COMING UP…

Key Financials for the H1 2020

Thursday, August 13, 2020

at 10:00 a.m. (CEST)

presented by

Dr Thomas Kneip, Member of the Board

CENTROTEC SE

H1 results 2020

13.08.2020

§ Market Overview & Key Financials

§ Operational Highlights§ Outlook

AGENDA

Source: BDH monthly statistics

MARKET DEVELOPMENT

German heating market demonstrates stable growth in the first half of the year, but growth slowed down in the second half

4

Quarterly market growth rate of oil and gas heat generating units in Germany [in percent compared to same quarter of previous year]

3

8

6

-5

3

0

0

3

6

2

Q2/19Q1/18 Q3/19Q4/18 Q1/19Q2/18 Q3/18 Q4/19 Q1/20 Q2/20

Annual growth rate

plus 3%

Annual growth rate

plus 2%

• Slight, but visible decline in market dynamics in Q2 in Germany, after strong startinto the year

• Heavy impact on salesmarkets in Southern and Western Europe, as well asChina

• First sights of projectdelays and more intensecompetition in the AHU market

Market Impact ofCorona Pandemia

+ Continued groupwide growth in Germany and NL + Climate Systems with positive development in the

heat pump, domestic heating and ventilation market+ Acquisition of German roof product specialist IVT in

2019 with contribution to Gas Flue Systems saleso CHP business stabilized, but on low levelo Gas Flue Systems with a weaker 2nd quarter after

good start- China with a very weak first quarter and slow

recovery due to corona issue- Impact of corona crisis in several markets

(Southern Europe, UK) since March

* Organic Growth Rate: H1: 6.6%; Q2: 1.2%

REVENUE DEVELOPMENT

Sales growth in all segments; Corona crisis with a limited and regional impact until now

5

207.1

27.2

69.565.7

26.8

YtD H1 19

225.6

Med. Tech. & Eng. Plastics

YtD H1 20

Gas Flue Systems

Climate Systems

299.7322.3

7.6%*

by Segmentin EUR million

+8.9%

+5.7%

+1.3%

Drivers of Regional Sales+ Good development in Germany, Netherlands

and Eastern Europe- Weak development in Spain, Italy, France, UK

and China

Drivers of Revenue Development

Q2 156.0152.5 +2.3%

EBIT DEVELOPMENT

Strong revenue growth in Climate Systems segment drives groupwide earnings growth in the first six month of 2020

6

Med. Tech. & Eng. Plastics

2.8

1.2

YtD H1 19

4.1

16.80.9

10.2

5.8

YtD H1 20

Gas Flue Systems

Climate Systems

8.1

by Segment[in EUR million]

Drivers of EBIT Development

+<100%

+40%

-28%Climate Systems+ Scale effects from sales growth+ Successful implementation of profitability improvement

project in Air Handling Units- Negative contribution from some foreign group

companies due to corona crisis

Gas Flue Systems+ Further sales growth in the first quarter+ Strong German market- Weaker development in many foreign companies since

March with a little recovery at the end of the 2nd quarter

Med. Tech. & Eng. Plastics+ Sales growth in medical technologies - Engineering Plastics business is impacted by economic

slow-down and Corona-crisisQ2 7.74.1 +92%

EAT TRANSITION H1 2019 VS. H1 2020

EAT of the first six months burdened by negative financial result of the first quarter

7

[in EUR million]

8.3

Δ EBITDA

EAT H1 2019

10.4

6.9

Δ Depreciation 1.8

0.9

Δ Financial Result

Δ Tax

EAT H1 2020 6.3

Comments

• Depreciations higher than last years due to high investment levels (various production buildings upgraded, etc.)

• After good performance of financial investments in H1/2019 (+3.9 Mio. EUR) negative result in H1/2020 (- 4.6 Mio. EUR); Q2 result similar to previous year

• Tax and tax rate increase caused by lower taxation of negative impact from financial investments

92

94

96

98

100

102

104

106

108

12.2

8.20

18

1.28

.201

9

2.28

.201

9

3.31

.201

9

4.30

.201

9

5.31

.201

9

6.30

.201

9

7.31

.201

9

8.31

.201

9

9.30

.201

9

10.3

1.20

19

11.3

0.20

19

12.3

1.20

19

1.31

.202

0

2.29

.202

0

3.31

.202

0

4.30

.202

0

5.31

.202

0

6.30

.202

0

7.31

.202

0

Withdrawal of14 Mio. EUR

Impact of Corona Crisis

TOTAL RETURN OF CENTROTEC FINANCIAL INVESTMENTS FUND

Impact of corona crisis after positive development during the last year

31.12.19

Withdrawal of20.7 Mio. EUR

Withdrawal of3 Mio. EUR

Withdrawal of2.5 Mio. EUR

Withdrawal of5 Mio. EUR

minus5.6 Mio. EUR in

Q1/2020

August 12, 2020

Withdrawal of9.6 Mio. EURplus

1.1 Mio. EUR in

Q2/2020

KEY BALANCE SHEET AND CASH FLOW RATIOS

Overall stable key balance sheet ratios; positive operating cash flow trend

9

4/17

-0.36

2/202/17 1/18 3/183/17 2/18 1/204/18 1/19

-0.03

2/19 3/19 4/19

-0.04

0.050.01

-0.09

-0.16

-0.29

-0.14

-0.38

-0.23

-0.28-0.32

Net Financial Position / Equity

1/18 2/192/183/17 1/19

75.4

2/17 3/184/17 4/18 3/19 4/19 1/20

70.3

81.9 79.587.285.3 85.2

95.8

70.1

87.893.1

81.2

95.4

2/20

Net Working Capital[EUR million]

2/184/172/17 3/181/18

48.5

3/17 4/18 1/19 2/19

40.5

3/19

36.1

4/19 1/20

39.942.241.7

44.4 43.939.3 38.8 39.1 39.0

2/20

37.1

Equity Ratio[percent]

1/193/18 2/202/17 3/17 1/204/17 1/18 2/18 4/18 2/19

38.2

3/19 4/19

-2.2-2.8

5.2

31.6

-2.7

11.7

-10.3-6.1

-1.1

10.1

42.0

20.5

Operating Cash Flow (YTD)[EUR million]

INVESTMENTS BY SEGMENT

Key Investments temporarily under observation due to actual general economic situation

10YtD H1 19

6.6

23.3

YtD H1 20

3.0

13.711.6

1.5

8.9

Med. Tech. & Eng. Plastics

Gas Flue Systems

Climate Systems

22.0

-5%

-15%

+36%

-51%

Key Investments

Climate Systems:• Upgrade of two production halls at Wolf in Mainburg• IT infrastructure investments• Various product developments

Gas Flue Systems (including Holding):• Building of production plant in China; to be largely

completed in Q3• Introduction of HR IT solution for the group

Med. Tech. & Eng. Plastics• New production hall prepared for Moeller Medical in

Fulda

Investments (excl. M&A)[in EUR]

§ Market Overview & Key Financials

§ Operational Highlights

§ Outlook

AGENDA

NEW PRODUCTS

The new Heat Pump line has had an extraordinary good start – and new productshave been lined up

12

TGB-2 MULTI AIR SUPPLYCHA-MONOBLOCK HEAT PUMP

JIAXING FACTORY

The new CENTROTEC factory in Jiaxing has been almost completed

13

IMPLICATIONS OF CORONA PANDEMIA

The Corona crisis has had less impact than expected until now

14

Q1

•Hardly any impact until Mid March, except China

•Planned building projects were completed

•At the start of the quarter, spill-over effects from previous year, as subsidy scheme in Germany has been finalized

•Some inventory build-up at customers towards the end of the quarter

Q2

•Almost complete shut-down of markets in France, Spain, Italy and UK

•Stabilization in the German core market at good levels

•Break-down in public and commercial building activity will impact order intake more than revenues

H2 - insights

•Renovation business will remain on stable levels, but:

•New building activities (public, commercial and residential) is reduced

•Significantly positive impact from cost reductions of the due to cancelled trade fairs, business trips, marketing etc. impact will be much smaller in the second half of 2020

2021 - expectations

•Building activities, especially in commercial business will be reduced in the coming 12-18 months

•A second shut-down would hit the marketsvery hard

Corona impact on Earnings

Interruption of Supply

Chain

Interruption of Business Processes

State-ordered

productionstop

Interruption of Demand

IMPLICATIONS OF CORONA PANDEMIA ON CENTROTEC OUTLOOKSome of the risks from Corona have been mitigated, while others still prevail

15

Demand has not really recovered well in FR, ES, IT, UK, US yet. Other markets see less impact. In the long run, the dramatic drop in real estate investments will impact the AHU business towards the end of the year and in 2021.

Key components have been stocked up; currently no immediate risk

The risk of business interruption due to high infection rates has been mitigated through the implementation of a group wide hygiene and safety concept.

Unless there is a significant upsurge in infection rates, this risk is currently seen less likely to affect our business

UPDATE

Trend Indicator

§ Market Overview & Key Financials§ Operational Highlights

§ Outlook

AGENDA

EBIT [in million EUR]

OUTLOOK

Corona impact for the rest of the year remains difficult to predict. However, guidance seems well reachable by now

17

Revenue [in million EUR]

Med. Tech. & Eng. Plastics

457.4

54.0139.6

Gas Flue Systems

651.0

Climate Systems

670 to 690

3.233.1

Climate Systems

Med. Tech. & Eng. Plastics

10.1

19.8

Gas Flue Systems

2019

34 to 36

+ Strong H1 provides some buffer for potentially weaker development in the rest of the year

+ Careful cost management enhances earnings performance

o Stable market development in Germany may compensate for some of the heavily affected smaller markets in Europe & UK

- Public and commercial building activities are likely to significantly decline in H2 and 2021: This will affect our AHU business

Guidance should be achieved or slightly exceeded

Current Assessment

August 13 Publication of Q2/2020 / Half year

November 13 Publication of Q3/2020

November 16 - 18 Deutsches Eigenkapitalforum 2020 cancelled

FINANCIAL CALENDAR 2020

The Annual Shareholders‘ Meeting will be held online

18

CENTROTEC SE

Am Patbergschen Dorn 959929 Brilon/Germanywww.centrotec.de

Tel: +49 2961 96631-0Fax: +49 2961 96631-100ir@centrotec.de

WKN 540750ISIN DE 000 54 07506

Thank you!

This presentation contains forward-looking statements based on currentexpectations, assumptions and forecasts of the executive board and on currentlyavailable information. Various known and unknown risks, unpredictabledevelopments, changes in the economic and political environment and otherpresently not yet identifiable effects could result in the fact that the actual futureresults, financial situation or the outlook for the company differ from the estimatesgiven here. We are not obligated to update the forward-looking statements madein this presentation unless there is a legal obligation.