RSL2 Q2 2026 Earnings Presentation

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Q2 2026 EARNINGS CALL July 31, 2026 | Waldenburg | Tobias Popp 1

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© R. STAHL Results of Q2 2026 BUSINESS STABILISED – MARKETS REMAIN CHALLENGING 1) EBITDA pre-exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing of IT projects, M&A costs, gains and losses form deconsolidation processes as well as gains and losses from the disposal of assets no longer required for business operations Sales decreased to €72.2m (PY: €77.9m); Asia/Pacific region still strong but America and Central region remain weak EBITDA pre1) increased from €5.3m to €6.0m due to cost optimization measures; EBITDA pre margin at 8.3% (PY: 6.8%) Net profit still negative but stable at €-2.5m (PY: €-2.5m) Earnings per share at the same level as previous year at €-0.38 (PY: €-0.38) Order intake improved at a low level to €68.6m (PY: €67.0m); all regions except the Americas recorded growth Free cash flow improved significantly by €6.1m to €-3.0m (PY: €-9.1m) Q2 2026 Earnings Call – July 31, 2026 3

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© R. STAHL Sales Q2 2026 vs. Q2 2025 by region SALES DECLINED – ASIA/PACIFIC STILL STRONG 1) Central region: Africa and Europe excl. Germany 46% 22% 22% 10% Central region1) Germany Asia/ Pacific Americas Region, €m Q2 2026 Q2 2025 Change in % Germany 16.2 16.9 -3.9 Central region1) 33.0 39.0 -15.4 Americas 7.0 9.8 -28.7 Asia/Pacific 16.1 12.3 +30.8 Total 72.2 77.9 -7.3 Q2 2026: €72.2m Q2 2026 Earnings Call – July 31, 2026 5

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© R. STAHL Key data of income statement PROFITABILITY INCREASED DESPITE LOWER SALES DUE TO SIGNIFICANT COST REDUCTIONS AND DISCIPLINE 1) EBITDA pre-exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing of IT projects, M&A costs, gains and losses from deconsolidation processes as well as gains and losses from the disposal of assets no longer required for business operations €m Q2 2026 Q2 2025 Sales 72.2 77.9 Total operating performance 69.1 80.7 Cost of materials -20.6 -27.6 Personnel costs -33.1 -36.0 Other operating expenses -13.1 -16.2 EBIT 0.3 -0.6 Financial result -1.8 -1.6 EBT -1.5 -2.1 Taxes -1.0 -0.4 Net profit -2.5 -2.5 Earnings per share in € -0.38 -0.38 EBITDA 4.8 4.1 EBITDA pre1) 6.0 5.3 Comments •Cost of materials ratio fell sharply to 29.8% (PY: 34.2%) despite lower total operating performance (-14.4%) •Personnel costs decreased by 8.1% to €33.1m, primarily driven by work- force reductions at German locations •EBITDA pre increased despite lower sales because of cost reductions by €0.7m to €6.0m; EBITDA pre margin rose to 8.3% (PY: 6.8%) •Net profit still negative but stable at €-2.5m; this results in EPS of €-0.38 (PY: €-0.38) Q2 2026 Earnings Call – July 31, 2026 6

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© R. STAHL Key data of cash flow statement FREE CASH FLOW IMPROVED SIGNIFICANTLY 1) without pension provisions and without lease liabilities €m Q2 2026 Q2 2025 Net profit -2.5 -2.5 Depreciation and amortization 4.5 4.6 Other income and expenses without cash flow impact 0.2 0.7 Cash flow 2.0 2.1 Changes in working capital -3.1 -7.6 Cash flow from operating activities -1.1 -5.5 Cash flow from investing activities -1.9 -3.6 Free cash flow -3.0 -9.1 Cash flow from financing activities 4.2 10.8 Cash and cash equivalents (30 June) 14.2 12.4 Net debt1) (30 June / 31 December) 43.7 34.9 Comments Q2 2026 Earnings Call – July 31, 2026 7 •Cash flow nearly stable at €2.0m •Because of the lower build up of working capital by €3.1m (PY: €7.6m), cash flow from operating activities increased by €4.4m to €-1.1m (PY: €-5.5m) •Free cash flow rose even more sharply by €6.1m to €-3.0m due to decreased investments of €1.9m (PY: €3.6m) •Net debt increased compared to year- end 2025 from €34.9m to €43.7m

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© R. STAHL GUIDANCE FY 2026 CONFIRMED Sales forecast at €285m to €300m Free cash flow to be balanced Equity ratio slight decrease EBITDA pre1) between €22m to €27m 1) EBITDA pre exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing of IT projects, M&A costs, gains and losses form deconsolidation processes as well as gains and losses from the disposal of assets no longer required for business operations Geopolitical conflicts General economic development RISKS Q2 2026 Earnings Call – July 31, 2026 9

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© R. STAHL Consistently and sustainably designed THE R. STAHL STRATEGY PROCESS 10 R. STAHL 2020 EXcellence 2030 Q2 2026 Earnings Call – July 31, 2026 Building the foundation Addressing intital priorities Eliminating growth barriers

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© R. STAHL Project Details Germany's first commercial hydrogen cavern storage facility with a capacity of 38 million cubic meters of hydrogen Source: 1) https://www.rwe.com/forschung-und-entwicklung/wasserstoff-projekte/wasserstoff-projekt-get-h2/ Second order for this project Start of operation: mid-2027 HMIs for hydrogen storage in North-Western Germany TOP SUCCESS STORY OF Q2/2026 12 Industry: Customer: HMI OrcaSupplied Materials: Hydrogen storage Rösberg Engineering 1) 1) Q2 2026 Earnings Call – July 31, 2026

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© R. STAHL ISSUER, CONTACT AND FINANCIAL CALENDAR R. STAHL AG Am Bahnhof 30 74638 Waldenburg Germany www.r-stahl.com Investor Relations Judith Schäuble P +49 7942 943 1396 E investornews@r-stahl.com Issuer and contact Financial calendar 2026 November 10 Quarterly Statement Q3 2026 November 12 MKK – Munich Capital Market Conference Q2 2026 Earnings Call – July 31, 2026 14

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© R. STAHL DISCLAIMER Rounding differences and rates of change Percentages and figures may include rounding differences. The signs used to indicate rates of change are based on mathematic aspects: Rates of change >+100% are shown as >+100%, rates of change <-100% as “n/a” (not applicable). This presentation was prepared by R. STAHL AG and is solely for information purposes. It may not be reproduced, distributed or published without the prior consent of R. STAHL AG. This presentation contains forward-looking statements. Such forward-looking statements are based on certain assumptions and expectations at the time they are first made available. They are therefore connected with risks and uncertainties and the actual results may deviate significantly from those described in the future-oriented statements. A number of these risks and uncertainties are determined by factors outside of the realm of influence of R. STAHL AG and cannot be estimated with certainty as of today. These include future market conditions and economic developments, the conduct of other market participants, the achievement of unexpected synergy effects, as well as legal and political decisions. R. STAHL AG is also not obliged to publish corrections to these forward-looking statements in order to reflect results or circumstances arising after the publication date of these materials. It constitutes neither an offer to sell nor a solicitation to buy or subscribe to shares in any country, including the USA. This presentation does not include a public offer of shares; a sales prospectus is not being published. Q2 2026 Earnings Call – July 31, 2026 15

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© R. STAHL Sales 6M 2026 vs. 6M 2025 by region HALF YEAR SALES DECREASED SLIGHTLY 1) Central region: Africa and Europe excl. Germany 45%22% 23% 10% Central region1)Germany Asia/ Pacific Americas Region, €m 6M 2026 6M 2025 Change Germany 32.3 35.5 -9.0% Central region1) 65.3 74.9 -12.9% Americas 13.9 17.8 -22.3% Asia/Pacific 34.2 23.0 +48.8% Total 145.6 151.2 -3.7% 6M 2026: € 145.6m 18Q2 2026 Earnings Call – July 31, 2026

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© R. STAHL Key data of Income Statement SIGNIFICANT COST REDUCTIONS LEAD TO HIGHER PROFITABILITY €m 6M 2026 6M 2025 Sales 145.6 151.2 Total operating performance 146.5 160.8 Cost of materials -46.0 -55.0 Personnel cost -66.7 -73.3 Other operating expenses -27.8 -30.4 EBIT 2.1 -1.8 Financial result -3.5 -3.1 EBT -1.4 -4.9 Taxes -1.3 -0.1 Net profit -2.7 -5.0 Earnings per share in € -0.42 -0.77 EBITDA 11.2 7.5 EBITDA pre1) 12.7 8.9 Comments •Cost of materials ratio fell sharply to 31.4% (PY: 34.2%) •Personnel costs decreased by 8.9% to €66.7m, primarily driven by workforce reductions •EBITDA pre increased because of cost reductions by €3.8m to €12.7m; EBITDA pre margin rose to 8.7% (PY: 5.9%) •Net profit improved by €2.2m to €-2.7m; this results in EPS of €-0.42 (PY: €-0.77) 1) EBITDA pre: EBITDA pre exceptionals (exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for design and implementation of IT projects, M&A costs as well as profit and loss from the disposal of non-current assets no longer required for business operations) 19Q2 2026 Earnings Call – July 31, 2026

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© R. STAHL Key data of Cash Flow Statement FREE CASH FLOW IN FIRST HALF YEAR IMPROVED BY €6.1M €m 6M 2026 6M 2025 Net profit -2.7 -5.0 Depreciation and amortization 9.1 9.3 Other income and expenses without cash flow impact 0.9 1.1 Cash flow 6.6 3.7 Changes in working capital -9.9 -9.6 Cash flow from operating activities -3.3 -5.9 Cash flow from investing activities -3.7 -7.2 Free cash flow -6.9 -13.1 Cash flow from financing activities 8.1 9.8 Cash and cash equivalents (30 June) 14.2 12.4 Net debt1) (30 June / 31 Dec.) 43.7 34.9 Comments •Cash flow from operating activities rose by €2.6m to €-3.3m mainly due to improved net profit •Free cash flow rose even more sharply by €6.1m to €-6.9m due to lower investments of €3.7m (PY: €7.2m) •Net debt increased compared to year-end 2025 from €34.9m to €43.7m 20Q2 2026 Earnings Call – July 31, 2026 1) Cash and cash equivalents less interest-bearing debt

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© R. STAHL SHARE INFORMATION August 2025 – July 2026 Xetra Share information Shareholders structure R. STAHL Share price Number of shares 6,440,000 ISIN DE000A HBB5 WKN A1PHBB Deutsche Boerse RSL2 Bloomberg ticker RSL2 Reuters ticker RSL2.DE Listing •Frankfurt Stock Exchange •Prime Standard 36% 10% 14% 10% 10% 20% Founding families within a consortium Founding families outside the consortiumRAG foundation/ RSBG SE BWVA1) Norman Rentrop Freefloat 1) BWVA: Baden-Württembergische Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte Q2 2026 Earnings Call – July 31, 2026 21

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