First-Half Financial Report January to June 2026

Sartorius Stedim Biotech
First-Half Financial Report
January to June 2026

Key Figures for the First Half and Second Quarter of 2026

Balance Sheet | Financials

Sector Environment

The Sartorius Stedim Biotech Group serves customers mainly in the biopharmaceutical industry. Thus, the development of this sector provides important impetus to the Group’s business performance.

Biopharmaceutical Market

A detailed overview of developments in the biopharmaceutical and laboratory market is provided in the Universal Registration Document on pages 34-35.

Demand for biopharmaceuticals is generally driven by structural trends such as a growing and ageing global population as well as innovations. Increasing range of indications, market penetration and new therapeutic modalities (e.g. cell and gene therapies) provide additional growth opportunities. These developments continue to support demand in the bioprocessing market, the key market for Sartorius Stedim Biotech.

Leading suppliers in this segment recorded substantial growth rates in the first quarter of 2026. The main driver of this development was the continued robust momentum in the consumables business, while the equipment business remained subdued against the backdrop of restrained investment activity. However, several suppliers noted increasing signs of stabilization over the course of the year. In terms of regional developments, a number of companies also highlighted a noticeable recovery in demand in China during the first quarter.

Sources: Own analysis of company data.

Group Business Development

• Profitable growth continued in H1 2026, with all regions contributing positively
• High-margin consumables and services business remained the key growth driver; equipment and systems business stabilized as expected and returned to slight growth
• Underlying EBITDA increased; corresponding margin improved year over year
• Sartorius Stedim Biotech received refunds of unlawfully imposed U.S. tariffs, and intends customer compensation measures; non-operational effect impacted reported sales growth and margin
• Management confirms full year guidance 2026

The Sartorius Stedim Biotech Group continued its profitable growth trajectory in the first six months of fiscal 2026, generating sales revenue of €1,527.2 million. Operational business development in constant currencies, excluding the effect of the intended customer compensation related to tariff refunds received, amounted to 8.0%. Including this effect, sales revenue increased by 6.4% in constant currencies (reported: 2.5%). Growth was led by the high-margin consumables and services business for the biopharmaceutical industry. Following the subdued development in the prior year, the equipment and systems business stabilized as expected and returned to modest growth.

Explanation of the refund of unlawfully imposed U.S. tariffs

In February 2026, the U.S. Supreme Court ruled that certain U.S. tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful. The affected tariffs had originally been introduced in April 2025. Based on the court rulings and the related refund procedures initiated, Sartorius Stedim Biotech filed corresponding claims for refund.

Due to ongoing legal proceedings and administrative processes, uncertainties existed regarding both the amount and timing of potential refunds. Shortly before the end of the first half of 2026, Sartorius Stedim Biotech received a substantial portion of the refund claims filed for previously paid U.S. tariffs.

Sartorius Stedim Biotech intends to compensate customers for surcharges imposed in connection with these tariffs. As of June 30, 2026, the Group recognized current financial liabilities of around €23 million for the expected compensation measures. Accordingly, sales revenue and cost of sales for the first half of 2026 were reduced. The reduction in reported sales revenue and the resulting purely technical increase in reported margin metrics do not provide an indication of the underlying operational business performance.

Sales Revenue

All business regions contributed to revenue growth. In the EMEA region, which accounted for around 44% of revenue, sales rose by 7.7% to €672.4 million. Business in the Americas region was significantly impacted by the intended customer compensation related to tariff refunds received. Including this effect, sales revenue in the region, which accounted for around 34% of Group revenue, increased by 0.8% to €512.3 million in the reporting period. Excluding this effect, sales revenue in the Americas increased by 5.4%. The Asia| Pacific region recorded the strongest growth, with sales revenue rising by 12.5% to €342.5 million, benefiting significantly from a recovery in China. This region accounted for around 22% of total Group revenue. (All growth rates for regional development are in constant currencies unless otherwise stated.)

Underlying EBITDA

Sartorius Stedim Biotech uses earnings before interest, taxes, depreciation and amortization (EBITDA) as its key profitability measure. To provide a complete and transparent presentation of the Group’s profitability, the company reports earnings adjusted for extraordinary items (underlying EBITDA).

In the first half of 2026, underlying EBITDA increased by 3.7% to €478.9 million. The corresponding margin rose to 31.4% (H1 2025: 31.0%). Positive volume and scale effects more than offset the dampening effects from product mix. In addition, margin development was influenced by opposing technical effects related to U.S. tariffs, which largely balanced each other out during the first half of the year. The intended customer compensation related to tariff refunds received supported the margin, while the pass-through of tariffs to customers had an opposing effect.

Reconciliation between EBIT and underlying EBITDA

Extraordinary items

Gross profit amounted to €704.2 million in the first half of 2026 (H1 2025: €701.0 million). The gross profit margin amounted to 46.1% (prior year: 47.1%). Volume and scale effects contributed modestly to margin development, while currency effects and an unfavorable product mix had a dampening impact year over year. In addition, margin development was influenced by the previously described opposing technical effects related to U.S. tariffs that largely balanced each other out during the first half of the year.

Consolidated earnings before interest and taxes (EBIT) increased by 12.2% to €303.2 million (H1 2025: €270.2 million). In addition to depreciation and amortization, EBIT includes extraordinary items primarily from expenses for various corporate projects and efficiency measures or in connection with the latest acquisitions. At -€15.1 million, these expenses were significantly below the prior-year level of -€36.4 million. The reduction in extraordinary items, combined with positive currency effects from hedging activities and disciplined cost management, were key drivers of the earnings improvement. The EBIT margin rose to 19.9% (H1 2025: 18.1%).

The financial result amounted to -€57.5 million in the first half of 2026, compared with -€62.2 million in the same period of the previous year. The improvement was mainly due to lower interest expenses and positive foreign exchange and valuation effects in other financing components.

The net result attributable to shareholders of Sartorius Stedim Biotech S.A. increased by 17.6% to €181.1 million (H1 2025: €154.1 million). An effective tax rate of 26% expected for the full year was applied (H1 2025: 26%) for calculating interim tax expenses.

Underlying Net Result

The underlying net result after non-controlling interest rose by 3.1% to €235.0 million. This profit figure is calculated by adjusting for extraordinary items and eliminating amortization and is based on the normalized financial result and the normalized tax rate. Underlying earnings per share amounted to €2.42 (H1 2025: €2.34).

1 Financial result adjusted for valuation effects from the subsequent measurement of contingent purchase price liabilities as well as for effects of foreign currency translation and hedging.
2 Income tax considering the average expected Group tax rate, based on the underlying profit before tax.
3 Profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate.

Cash Flow

Cash flow from operating activities in the first six months of the current financial year increased by 39.4% to €341.2 million (H1 2025: €244.7 million). Key drivers were the positive earnings development, tariff refunds received, and lower tax payments. These effects were partly offset by the increase in working capital associated with business growth and the related cash outflows, which had a somewhat dampening effect on cash flow development.

Against the backdrop of sustained growth drivers in its end markets and its long-term growth ambitions, Sartorius Stedim Biotech continued to consistently execute its investment program. During the reporting period, for instance, the Group opened a new competence center in Freiburg, Germany, dedicated to the development and production of quality-critical materials for the cell and gene therapy market. Cash outflows from investing activities amounted to €142.4 million (H1 2025: €142.2 million), in line with expectations. As a result of the higher sales revenue base, the ratio of capital expenditures (CAPEX) to sales in the first half of 2026 was 9.3%, compared to 9.5% in the prior-year period.

Cash flow from financing activities amounted to -€423.8 million in the first six months of 2026 (prior year: - €78.9 million). It primarily reflected the repayment of financial liabilities, the acquisition of the remaining interests in Sartorius CellGenix GmbH, interest payments and the dividend distribution of €67.9 million for fiscal year 2025.

Capital expenditures

Consolidated Statement of Financial Position

The balance sheet total of the Sartorius Stedim Biotech Group stood at €7,917.5 million as of June 30, 2026, €66.5 million below the level reported as of December 31, 2025 (€7,984.0 million). Non-current assets increased slightly to €6,564.9 million (December 31, 2025: €6,542.8 million). Additions to property, plant and equipment resulting from the continued execution of the Group’s investment program more than offset scheduled depreciation and amortization, particularly on intangible assets. Current assets decreased by €88.6 million to €1,352.6 million. The decline was primarily attributable to the reduction in cash and cash equivalents following the repayment of financial liabilities. This effect was partially offset by the growth-related increase in working capital, which rose to €987.4 million as of June 30, 2026 (December 31, 2025: €883.7 million).

Equity amounted to €4,246.9 million at the end of the reporting period (December 31, 2025: €4,126.2 million). The equity ratio - defined as the quotient of equity to the total balance sheet – increased to 53.6% (December 31, 2025: 51.7%).

Gross debt, mainly consisting of loans from the parent company Sartorius AG and its affiliate Sartorius Finance B.V., and lease liabilities, decreased by €196.7 million to €2,402.6 million as of June 30, 2026 (December 31, 2025: €2,599.3 million). Net debt, defined as gross debt less cash and cash equivalents, amounted to €2,198.7 million as of June 30, 2026 (December 31, 2025: €2,173.1 million).

The ratio of net debt to underlying EBITDA was 2.36 as of June 30, 2026, compared with 2.38 at year-end 2025. This ratio is calculated as the quotient of net debt and underlying EBITDA over the past 12 months.

Ratio of net debt to underlying EBITDA

Slight increase in the number of employees

As of June 30, 2026, the number of employees increased slightly to 10,477, primarily driven by additional hiring in manufacturing. This was 212 employees higher than the year-end 2025 figure of 10,265. The number of employees in EMEA increased by 1.8% to 7,259 as of June 30, 2026, compared with year-end 2025. In the Americas, the workforce grew by 1.7% to 1,753 employees, while the Asia-Pacific region recorded an increase of 3.9% to 1,465 employees.

Risk Factors

The risk situation of Sartorius Stedim Biotech Group has not materially changed since the publication of its Universal Registration Document 2025, with the exception of the circumstances described below. For this reason, please refer to a detailed description of the risk factors as well as the risk management system on pages 51 et seq. of the Universal Registration Document 2025.

The ongoing conflicts between Russia and Ukraine or in the Middle East, currently in particular in connection with the situation in Iran, as well as the continued volatility resulting from trade policy tensions between the United States and several leading economies, continue to lead to increased uncertainties. With regard to the military conflicts mentioned, there have been no material changes for the Group since the 2025 consolidated financial statements. The Group is particularly affected by the indirect impacts, such as higher freight and energy costs. The current effects on the Group’s net assets, financial position, and operating results are insignificant.

In view of the additional tariffs introduced in 2025 by the United States under the International Emergency Economic Powers Act (IEEPA), the Group received refunds from the U.S. authorities in the reporting period following the Supreme Court ruling issued in February. Since the corresponding tariffs have been passed on to customers via tariff surcharges, Sartorius Stedim Biotech intends to implement compensation measures related to tariff refunds received. In addition to the tariffs described, which have been found to be unlawful, U.S. tariffs on deliveries from a large number of countries remain in place. The impact of these tariffs on the competitive and earnings situation is overall insignificant due to industry-wide regional diversification, the generally regulated market environment in biopharmaceuticals, and the globally integrated supply chains that are customary in the industry.

Forecast Report

Biopharmaceutical Industry

The trends described on pages 69 to 70 of the Universal Registration Document 2025, which influence the development of Sartorius Stedim Biotech, continue to apply overall.

In the field of bioprocessing, leading suppliers expect the positive market development to continue in 2026 and anticipate overall robust growth, which is expected to remain largely driven by continued strong demand for consumables. At the same time, the equipment business is expected to continue to develop below long‑ term structural growth rates. Following developments in the previous year, several suppliers nevertheless see signs of increasing stabilization.

Sources: Own evaluation of company data

Outlook for fiscal 2026

Based on business performance in the first half of 2026 and the continued positive development of the relevant end markets, management confirms its guidance for the full year.

Sartorius Stedim Biotech continues to expect sales revenue growth in constant currencies of around 6 percent to 10 percent.

Operational business excluding tariff effects is projected to develop positively and in line with initial expectations. Thus, the forecasted growth in operating sales revenue in constant currencies would be broadly around the midpoint of the guidance bandwidth.

The above-mentioned guidance range of 6 to 10 percent takes into account effects of changes in the tariff environment. The intended customer compensation for unlawfully imposed U.S. tariffs could reduce revenue by up to €35 million compared with our initial assumptions. Including this effect, sales revenue growth in constant currencies is expected to be in the lower half of the guidance range.

With regard to profitability, management continues to project the underlying EBITDA margin to increase to slightly above 31 percent.

The ratio of capital expenditure to sales revenue is still expected to remain at a level similar to 2025 (PY: 13.3 percent). The ratio of net debt to underlying EBITDA is expected to decrease to slightly above 2 (PY 2.38).

As in previous years, all forecast figures are based on constant currencies. Management notes that industry dynamics and volatility have increased significantly in recent years. In addition, uncertainties resulting from the changed geopolitical environment and related tariff measures continue to play an important role.

Consequently, forecasting business performance continues to be subject to a high degree of uncertainty.

Sartorius Stedim Biotech sets new mid-term targets

At its Capital Markets Day in March 2026, Sartorius Stedim Biotech presented its updated strategy and new mid-term targets. These targets envisage sustainable profitable growth above market levels.

Sartorius Stedim Biotech sets new mid-term targets

At its Capital Markets Day in March 2026, Sartorius Stedim Biotech presented its updated strategy and new mid-term targets. These targets envisage sustainable profitable growth above market levels.

Based on its assessment of future market development, Sartorius Stedim Biotech expects the bioprocessing market to expand at a rate of approximately 8 to 10 percent per year over the medium term.

Against this backdrop and building on its leading market position as well as its focused strategy, Sartorius Stedim Biotech introduced a new mid‑term ambition for the period from 2027 onwards. Management expects the company to consistently outgrow its addressable market by around 100 to 200 basis points per year, targeting organic sales revenue growth of 9 to 12 percent per year in constant currencies. At the same time, Sartorius Stedim Biotech is committed to further expanding its profitability: The underlying EBITDA margin is expected to increase by approximately 60 to 85 basis points per year, driven by operating leverage, operational improvements and a growing share of high-margin consumables.

Report on Subsequent Events

No material events occurred after June 30, 2026.

Statement of Consolidated Profit or Loss

Statement of Consolidated Other Comprehensive Income

Statement of Consolidated Financial Position

Statement of Consolidated Cash Flows

Statement of Changes in Equity

Notes to the Condensed Consolidated Interim Financial Statements

1. Reporting Entity

Sartorius Stedim Biotech is a leading international partner to the biopharmaceutical industry. As a provider of innovative solutions, the company helps its customers to manufacture biotech medications, such as cell and gene therapies, safely, rapidly, and sustainably. The company has a strong global reach with manufacturing and R&D sites as well as sales entities in Europe, North America, and Asia.

Headquartered in Aubagne, France, Sartorius Stedim Biotech S.A. is listed on Euronext Paris (ISIN code: FR 0013154002).

The condensed consolidated interim financial statements of the Sartorius Stedim Biotech Group for the period from January 1, 2026, to June 30, 2026, were authorized for issue by the Board of Directors on July 22, 2026.

2. Basis of Accounting

The condensed consolidated interim financial statements of the Sartorius Stedim Biotech Group for the period ended June 30, 2026, were prepared in accordance with IAS 34 “Interim Financial Reporting”. They do not include all the information required for a complete set of IFRS financial statements and must be read in conjunction with the consolidated annual financial statements of the Sartorius Stedim Biotech Group for the year ended December 31, 2025. However, selected explanatory notes are included to explain events and transactions that are significant for an understanding of the changes in the Group’s financial position and performance since the last annual consolidated financial statements for the year ended December 31, 2025.

The accounting principles retained for preparing the consolidated first-half statements are in compliance with the IFRS Accounting Standards and Interpretations as adopted by the European Union on June 30, 2026, and are available on the website: https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and￾auditing/company-reporting_en

The accounting principles applied are generally identical to those used to prepare the annual consolidated financial statements for the year ended December 31, 2025. Standards that were applied for the first time in the current reporting period are described in Section 3 below.

The Universal Registration Document 2025 provides a list of subsidiaries (see pages 282-283). The scope of consolidation remained unchanged as of June 30, 2026, with the following exceptions. In the interim reporting period, SIV Freiburg FH GmbH & Co. KG, Göttingen, Germany, was established and included in the interim consolidated financial statements. In addition, the subsidiary PolygenX 2 SAS, Illkirch-Graffenstaden, France, was merged into PolygenX A SAS, Illkirch-Graffenstaden, France.

As in the previous year, for the calculation of income tax expenses, the provisions of IAS 34.30c were adopted, i.e., management’s best estimate of the weighted average annual income tax rate expected for the full financial year (26.0%; same as previous half-year financial statements) was applied to the pre-tax income for the period.

3. Initial Application of New Standards

Initial Application of new IFRS Accounting Standards and Interpretations

The Group applied the following new accounting rules that were mandatory for the reporting period:

• Amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 – Annual Improvements to IFRS Accounting Standards, Volume 11 (issued on 18 July 2024)

The amendments to IFRS 1, First-time Adoption of International Financial Reporting Standards, relate to the accounting for hedging relationships by a first-time adopter of IFRS. The amendments to IFRS 7, Financial Instruments: Disclosures, as well as the accompanying implementation guidance, eliminate potential ambiguities, including those arising from inconsistencies in wording and outdated cross-references. The amendments to IFRS 9, Financial Instruments, likewise eliminate potential ambiguities arising from cross‑ references. The amendments to IFRS 10, Consolidated Financial Statements, resolve an ambiguity caused by inconsistencies within the standard in connection with the assessment of whether another party is acting on behalf of the investor (“de facto agents”). The amendments to IAS 7, Statement of Cash Flows, resolve a potential ambiguity arising from the use of the term “cost method”, which is no longer defined in IFRS Accounting Standards.

The application of the new rules described above did not have an impact on the condensed consolidated interim financial statements.

IFRS 18, Presentation and Disclosure in Financial Statements, to be applied for the first time in 2027

The new requirements of IFRS 18 regarding presentation and notes disclosures are presented in the 2025 consolidated financial statements. In February 2026, IFRS 18 was endorsed and adopted as EU law. The expected impact described in the 2025 consolidated financial statements remains unchanged as of 30 June 2026. In the current financial year, the Group continues to work on the implementation.

4. Use of Judgments and Estimates

In preparing these condensed consolidated interim financial statements, Group management has made judgments, estimates, and assumptions based on the circumstances and assessments as of the reporting date. The actual results may differ from these estimates. The material estimates and assumptions have remained broadly consistent with those applied in the consolidated financial statements as of December 31, 2025. The general uncertainty associated with accounting estimates and assumptions remains comparatively high, notably due to ongoing geopolitical developments such as the conflicts between Russia and Ukraine and in the Middle East, currently in particular in connection with the situation in Iran, as well as continued volatility resulting from trade policy tensions between the United States and several leading economies. With regard to the aforementioned military conflicts, there have been no changes of material significance for the Group since the 2025 consolidated financial statements. The Group continues to be affected in particular by the indirect consequences, such as increased freight and energy costs. The current impact on the Group’s net assets, financial position, and profitability is limited. Reference is made to the Group interim management report for information on the business performance of the Group in the first half of 2026.

US Customs Policy: Ruling of the US Supreme Court on Tariffs Based on the IEEPA

On February 20, 2026, the US Supreme Court ruled that the tariffs imposed by the US government on the basis of the International Emergency Economic Powers Act (IEEPA) are not in accordance with the US Constitution. Under the Constitution, the authority to levy these tariffs lies exclusively with Congress. The Group subsequently applied for the refund of US tariffs and received refunds just before the end of the first half of the year. Sartorius intends to compensate its customers for the surcharges levied in connection with these tariffs. For the expected compensation measures, the Group reports short-term financial liabilities of around €23 million as of June 30, 2026. The revenue recognized for the first half of 2026 was reduced by the same amount. The reduction in reported sales revenue and the resulting purely technical increase in reported margin metrics do not provide an indication of the underlying operational business performance. The tariff refunds received were recognized in cost of sales. Regardless of the inadmissible tariffs described above, U.S. customs duties on shipments from a wide range of countries are still in place.

5. Operating Segments

Internal control and reporting within Sartorius Stedim Biotech are based on the approach of operating as a “total solutions provider” for its customers. Accordingly, one reportable operating segment has been identified by Sartorius Stedim Biotech: Biopharm.

The key performance indicator of the operating segment of the Sartorius Stedim Biotech Group is “underlying EBITDA,” as the Board monitors this performance measure at a consolidated level and believes it is relevant for an understanding of the Group’s financial performance. EBITDA corresponds to earnings before interest, taxes, depreciation, and amortization; “underlying EBITDA” means EBITDA adjusted for extraordinary items. Extraordinary items are expenses and income in connection with efficiency measures, acquisitions, and other gains or losses that distort the sustainable profitability of the segment. Efficiency measures include mainly income and expenses related to restructuring activities, such as severance payments, and large Group projects, such as major IT projects. In the first half of 2026, most of the expenses related to efficiency measures were presented within general administrative expenses.

The accounting and measurement principles for the segment correspond to the general Group accounting principles.

Segment Information

Extraordinary Items

6. Disaggregation of Revenue

Revenue is recognized according to IFRS 15, Revenue from Contracts with Customers. The revenues from contracts with customers are disaggregated into geographical regions based on the customers’ location and according to the type of revenue (recurring or non-recurring). The Group defines recurring revenue as revenue from consumables and services, while non-recurring revenue is primarily defined as instrument revenue.

Sales revenue

7. Related Parties

The majority shareholder of Sartorius Stedim Biotech S.A. is Sartorius AG, Göttingen, Germany, which directly and indirectly holds a controlling interest in the company of 71.5% in equity capital and 83.0% of the voting rights. Shares in free float are approximately 28.5% of total equity capital.

The Sartorius AG Group itself is organized in two divisions: Bioprocess Solutions, which is mainly composed of the Sartorius Stedim Biotech Group, and Lab Products & Services, which is primarily operated by the other companies of the Sartorius AG Group. This structure explains why the Sartorius AG Group holds two subsidiaries in most of the countries in which it operates, and these companies partially share space, staff and other resources.

Furthermore, the German Group companies carry out various central functions and accordingly deliver services to the entities worldwide. Sartorius Corporate Administration GmbH, a wholly owned subsidiary of Sartorius AG, has departments that perform numerous functions for the Sartorius Group. These include, for example, Group Finance, HR, IT, Investor Relations, Legal and Central Marketing. The expenses for these services are further invoiced within the Sartorius Group and, to a significant extent, to Sartorius Stedim Biotech as well.

The structure described above has resulted in various relations and transactions with related parties. These include sales, purchases and commissions, management fees and shareholder costs, as well as loans, administrative services and shared costs. For further details, please refer to the Universal Registration Document 2025 (pp. 321-323). The methods and principles for the determination of the charges between the entities of Sartorius Stedim Biotech Group and other Sartorius AG Group entities have remained unchanged since December 31, 2025.

In May 2026, Sartorius AG Group repaid and refinanced the first tranche of the bonds issued in 2023. As the bonds were passed on to Sartorius Stedim Biotech, a refinancing was conducted in the reporting period at the level of the Sartorius Stedim Biotech Group as well (see Note 9 for further details).

8.Acquisition of non‑controlling interests in Sartorius CellGenix GmbH

In the current interim reporting period, the Group exercised its call option and acquired the remaining 24% interest in Sartorius CellGenix GmbH for a cash purchase price of approximately €71.8 million, so that the Group now holds 100% of the shares in the company. The corresponding cash outflow is reported in the cash flow from financing activities. The financial liability previously recognized for the put option of the non‑controlling shareholders in the amount of approximately €71.3 million (as of December 31, 2025) was reclassified to retained earnings. As a result of the acquisition of the shares, equity attributable to the shareholders of Sartorius Stedim Biotech S.A. increased by €25.7 million. In this context, non‑controlling interests decreased by €26.2 million.

9. Financial Instruments

Refinancing of loan maturing in September 2026

In September 2023, the Sartorius AG Group issued long term, unsecured, fixed interest bonds with an aggregate nominal amount of €3 billion. These bonds were subsequently passed on to the Sartorius Stedim Biotech Group. In May 2026, Sartorius AG Group refinanced and repaid the first tranche of the bond with a maturity date in September 2026. For this purpose, Sartorius Finance B.V., a wholly-owned subsidiary of Sartorius AG, issued a long term, unsecured, fixed interest bond with a nominal amount of €500 million and a coupon of 3.75%. In this context, the first tranche of the financing obtained by Sartorius Stedim Biotech in 2023 with an outstanding nominal amount of €520 million and a contractual maturity in September 2026, was refinanced and repaid as well in May 2026. Sartorius Stedim Biotech settled the maturing loan, including accrued interest, by a payment of €537.2 million. Approximately €297 million of the proceeds from the bond issuance in May 2026 were passed on to Sartorius Stedim Biotech, of which €295 million were provided as loans with coupons identical to the bond issuance, and approximately €2 million were provided via the short term credit line with Sartorius AG. Consequently, the net repayment for Sartorius Stedim Biotech amounted to approximately €240.2 million.

Hedging the fair value of parts of Group financing with interest rate derivatives

In the current interim reporting period, the Group entered into receiver interest rate swaps to hedge the fair value of a €470 million portion of the long-term financing obtained from Sartorius Finance B.V. and maturing in 2035 against interest rate risk. The derivatives are designated as hedging instruments in a fair value hedge relationship. Accordingly, the carrying amount of the hedged portion of the loan is adjusted for changes in fair value attributable to the hedged risk. Any hedge ineffectiveness, representing the difference between the fair value changes of the hedged item and the derivatives, is recognized in the Group’s interest expense. In the interim reporting period, the carrying amount of the loan decreased by €1.9 million as a result of hedge accounting. Income of €0.4 million was recognized in interest expense.

Carrying amounts and fair values of financial instruments

The following tables show the carrying amounts and fair values of financial assets and liabilities by category of financial instrument according to IFRS 9 as of June 30, 2026, and as of December 31, 2025.

* The amounts include the non-designated part of the contracts.

The fair values of the financial instruments were determined on the basis of the market information available on the reporting date and are to be allocated to one of the three levels of the fair value hierarchy in accordance with IFRS 13.

Level 1 financial instruments are measured on the basis of prices quoted on active markets for identical assets and liabilities. In Level 2, financial instruments are measured based on input factors which are derivable from observable market data or on the basis of market prices for similar instruments. Level 3 financial instruments are measured on the basis of input factors that cannot be derived from observable market data.

The financial instruments measured at fair value as of June 30, 2026, include in particular trade receivables that are part of a portfolio that is “held-to-collect-and-sell”, as well as derivatives in the form of forward contracts and interest rate swaps. These trade receivables are valued in the same way as trade receivables measured at amortized cost due to their short contractual maturities and immaterial credit risks. The derivatives were measured using exchange rates and market yield curves (Level 2).

The fair values to be disclosed for financial liabilities recognized at amortized cost, especially liabilities to Sartorius AG, Sartorius Finance B.V., and banks, were measured on the basis of the market interest rate, taking the current indicative credit spreads into account (Level 2). With regard to major loans of €2.0 billion in total taken out in 2023 and May 2026 (see above), the fair values are determined with reference to the underlying bonds of Sartorius Finance B.V. for which market values are available (Level 2). On the basis of the current market valuation, the interest rates would range between 3.2% and 4.1% for these bonds. The decrease in loans and borrowings mainly reflects the repayment and partial refinancing of a loan in May 2026 (see above).

The liability for the acquisition of non-controlling interests in Sartorius CellGenix GmbH reported under current financial liabilities with a carrying amount of €71.3 million as of December 31, 2025, was derecognized upon the acquisition of the shares in 2026 (see Note 8).

The fair values of the remaining financial assets and liabilities to be disclosed approximate their carrying amounts due to their predominantly short-term maturity. The maximum credit loss risk is reflected by the carrying amounts of the financial assets recognized in the statement of financial position.

The Group recognizes transfers between the levels of the fair value hierarchies at the end of the reporting period during which a change occurs. In the current reporting period, there were no transfers between the levels.

10. Material Events after the Reporting Date

No material events occurred after the reporting date.

11.Other Disclosures

Impairment Test

Impairment tests generally need to be performed annually for goodwill and other assets with indefinite useful lives. In addition, impairment tests need to be conducted when indicators are observed that non-current assets may be impaired. The Group’s analyses showed that no material impairments of assets in accordance with IAS 36 were to be recognized as of June 30, 2026.

Contingent Liabilities

The Group faces various legal matters in the ordinary course of business, including legal proceedings, quality claims, taxes and customs, as well as employee-related and other disputes. Group management does not expect that the ultimate costs required to settle these matters will have a material adverse impact on the Group’s consolidated financial position, statement of profit or loss, or cash flows. This also applies to the legal dispute in which the Slovenian Group company Sartorius BIA Separations d.o.o. is involved. Sartorius BIA Separations d.o.o. is the defendant in a dispute with the former parent company BIA Separations GmbH, Austria, in connection with the parent company’s insolvency proceedings commenced prior to the acquisition in 2020. In the event of a claim, the Group has contractual rights against the sellers of the acquired company.

Earnings Reporting

Sartorius Stedim Biotech uses the indicator “underlying EBITDA” as the key figure for measuring earnings. The key indicator “EBITDA” refers to earnings before interest, taxes, depreciation, and amortization. In addition, “underlying EBITDA” corresponds to “EBITDA” adjusted for extraordinary income and expenses recorded during the relevant period.

Dividend

In the reporting period, shareholders of Sartorius Stedim Biotech S.A. passed a resolution to pay a dividend of €0.69 per share for fiscal 2025. The total dividend distribution of €67.1 million was paid in the first half of 2026.

Audit

Level of procedures by independent auditors:

• December 31, 2025: audit of annual financial statements
• June 30, 2026: limited review of interim financial information
• Quarterly information: not audited, not reviewed

Statutory auditors’ review report on the 2026 interim financial information

For the period from January 1 to June 30, 2026

This is a free translation into English of the statutory auditors’ review report on the interim financial information issued in French and is provided solely for the convenience of English-speaking users. This report includes information relating to the specific verification of information given in the Group’s half-yearly management report. This report should be read in conjunction with, and construed in accordance with, French law and professional standards applicable in France.

To the Shareholders,
Sartorius Stedim Biotech
Zone Industrielle Les Paluds
Avenue De Jouques
13400 Aubagne

In compliance with the assignment entrusted to us by your Shareholders meeting and in accordance with the requirements of article L. 451-1-2 III of the French Monetary and Financial Code (“Code monétaire et financier”), we hereby report to you on:

• the review of the accompanying condensed interim consolidated financial statements of Sartorius Stedim Biotech S.A., for the period from January 1, 2026 to June 30, 2026;
• the verification of the information presented in the interim management report.

These condensed interim consolidated financial statements are the responsibility of the Board of Directors. Our role is to express a conclusion on these financial statements based on our review.

Conclusion on the financial statements

We conducted our review in accordance with professional standards applicable in France.

A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with professional standards applicable in France and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34- standard of the IFRSs as adopted by the European Union applicable to interim financial information.

Specific verification

We have also verified the information presented in the interim management report on the condensed interim consolidated financial statements subject to our review.

We have no matters to report as to its fair presentation and consistency with the condensed interim consolidated financial statements.

Marseille, July 22, 2026
The Statutory Auditors
French original signed by
PricewaterhouseCoopers Audit KPMG SA
Cédric Minarro Céline GIANNI DARNET François Assada

Information on the First-Half Financial Report

Declaration of Responsibility for the First-Half Financial Report

I certify, to the best of my knowledge, that the condensed financial statements for the first half ended June 30, 2026, have been prepared in accordance with the applicable accounting standards and give a fair view of the assets, the financial position and the results of the company and of the group of companies included in the consolidation, and that the first-half financial report on pages 2 to 24 presents a fair review of the important events that occurred during the first six months of the financial year, including their effects on the accounts, and of the major transactions be-tween the related parties, as well as of the description of the main risks and uncertainties for the remaining six months of the financial year.

Dr. René Fáber
CEO of the Sartorius Stedim Biotech Group

Financial Schedule

Publication of nine-month figures for 2026 October 22, 2026
Publication of preliminary results for fiscal 2026 February 2027
Publication of Universal Registration Document 2026 February 2027
Annual General Shareholders' Meeting| Aubagne, France April 2027
Publication of first-quarter figures for 2027 April 2027

Contacts

Sartorius Stedim Biotech S.A.
Z.I. Les Paluds
Avenue de Jouques
C.S. 91051
13781 Aubagne Cedex, France
Phone +33.442.84 56.00
Fax +33.442.84 56.19
www.sartorius-stedim.com

Sven Köpsel
Head of Corporate Communications & IR
Phone: +49.551.308.9429
sven.koepsel@sartorius.com

Petra Müller
Head of Investor Relations
Phone: +49.551.308.6035
petra.mueller2@sartorius.com

This is a translation of the original French-language first-half financial report "Rapport financier semestriel." Sartorius Stedim Biotech S.A. shall not assume any liability for the correctness of this translation. The original French interim report is the legally binding version. Furthermore, Sartorius Stedim Biotech S.A. reserves the right not to be responsible for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which is incomplete or incorrect, will therefore be rejected.

Forward-looking Statements Contain Risks

This Sartorius Stedim Biotech Group Interim Report for the period from the beginning of January 2026 to the end of June 2026 contains various statements concerning the Sartorius Group’s future performance. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actually apply. This is because our assumptions harbor risks and uncertainties that could lead to actual results diverging substantially from the expected ones. It is not planned to update our forward-looking statements. Throughout the entire report, differences may be apparent as a result of rounding during addition.

Notes

1. Constant currencies: Figures given in constant currencies eliminate the impact of changes in exchange rates by applying the same exchange rate for the current and the previous period.
2. Operational sales growth before customer compensation for tariff surcharges.
3. According to customers´ location.
4. Earnings before interest, taxes, depreciation, and amortization and adjusted for extraordinary items.
5. Profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate.
6. After non-controlling interest.
7. Cash flow from operating activities minus cash flow from investing activities.
8. Equity in relation to the balance sheet total.
9. Quotient of net debt and underlying EBITDA over the past 12 months.
10. Figures are not audited nor reviewed.
11. According to customers´ location.
12. Financial result adjusted for valuation effects from the subsequent measurement of contingent purchase price liabilities as well as for effects of foreign currency translation and hedging.
13. Income tax considering the average expected Group tax rate, based on the underlying profit before tax.
14. Profit for the period after non-controlling interest, adjusted for extraordinary items and amortization, as well as based on the normalized financial result and the normalized tax rate.