Landis+Gyr : FY 2023 Investor Presentation

Full Year 2023

Earnings Presentation

Werner Lieberherr | Chief Executive Officer

Elodie Carr Cingari | Chief Financial Officer

May 8, 2024

Disclaimer

Forward-looking Information

This presentation includes forward-looking information and statements, including statements concerning the outlook for Landis+Gyr Group AG and Landis+Gyr group ("Landis+Gyr"). These statements are based on current expectations, estimates and projections about the factors that may affect Landis+Gyrʼs future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for Landis+Gyr. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes",

"estimates", "targets", "plans", "outlook" "guidance" or similar expressions.

There are numerous risks, uncertainties and other factors, many of which are beyond Landis+Gyrʼs control, that could cause Landis+Gyrʼs actual results to differ materially from the forward-looking information and statements made in this presentation and which could affect Landis+Gyrʼs ability to achieve its stated targets. The important factors that could cause such differences include, among others: possible effects of pandemics, global shortage of energy or supplied components as well as increased freight rates, business risks associated with the volatile global economic environment and political conditions, including wars or military actions; market acceptance of new products and services; changes in governmental regulations and currency exchange rates; estimates of future warranty claims and expenses and sufficiency of accruals; and other such factors as may be discussed from time to time in Landis+Gyr Group AG filings with the SIX Swiss Exchange. Although Landis+Gyr Group AG believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

Alternative Performance Measures

This presentation may contain information regarding (a) preliminary, unaudited numbers that may be subject to change and (b) alternative performance measures such as reported EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Research and Development, Adjusted Sales, General and Administrative, and Adjusted Operating Expenses. Definitions of these measures and reconciliations between such measures and their USGAAP counterparts if not defined in the presentation may be found in the 'Supplemental Reconciliations and Definitions' section on pages 28 to 30 of the Landis+Gyr Half Year Report 2023 on the website at www.landisgyr.com/investors/results-center. Due to rounding, numbers presented may not add up to the totals provided.

2 | © Landis+Gyr 2024 | FY 2023 Results

Highlights FY 2023

Order intake

USD 1,978m

Book-to-bill 1.01

Net revenue

USD 1,963m

+15.6% in cc

Net debt

USD 131m

Order backlog

USD 3,769m

+0.5%

Adjusted EBITDA

USD 223.9m

11.4% margin

Free Cash Flow

(excl. M&A)

USD 91.1m

• Return to largely normalized market conditions and pre-Covid levels
• Sustained strong order intake / book-to-bill driven by Americas, resulting in a record USD 3.8b backlog
• Record net revenue driven by backlog execution and catch-up of pent-up demand
• Adjusted EBITDA and margin increase due to operating leverage and

steady recovery of supply chain cost

▪	Return to robust Free Cash Flow (excl. M&A)		Net Revenue Split
	EMEA
	generation of USD 91m	Americas
	USD 668m
▪		USD 1131m	34%
Shipped 20 million devices (up 19%), further

Devices shipped

20m

+19%

Distribution (DPS)

CHF 2.25

up 5 cents

▪

▪

expanding installed base for software revenues	58%
Dividend proposal of CHF 2.25 in line with policy

Strategic investments in SPAN, US, and Brusa Elektronik, CH

8%

Asia-Pacific

USD 163m

Strategic transformation positions Landis+Gyr in the sweet spot of the energy transition

3 | © Landis+Gyr 2024 | FY 2023 Results

Committed to the

Science Based

Target Initiative

2030

Carbon Neutral

2050

Net Zero

Targets approved in

2023

Reporting according to

GRI since 2020

ESG risk rating of 7.4

(Negligible Risk)

Adhering to TCFD since

2023 1)

Joined in

November 2019

ESG corporate rating

Prime status (top decile)

Top 5% of

sustainable companies

AA-rated

(top 15% in peer universe)

8.9

million tons CO2

Direct CO2 emissions avoided through installed Smart Metering base in FY 2023

	Avoided
	nearly 7x
	more CO2
8.9 m tons 2)	emissions in
	FY23 than
	produced
	1.3 m tons
CO2 emissions	CO2 emissions
avoided	produced

	1) In line with the Taskforce on Climate related Financial Disclosures (TCFD),
	Landis+Gyr has considered two scenarios as per the Intergovernmental Panel
4 | © Landis+Gyr 2024 | FY 2023 Results	on Climate Change (IPCC) to assess the climate resilience of its strategy

1. New methodology introduced in FY23 with the Carbon Trust

Americas - Winning with Leading Utility Partners

+

Smart Metering

Major Milestones at LG&E 700k+

endpoints & Ameren 1.2m

WINNING PARTNERSHIPS

Building on our long-term partnership with AMI refresh including metering, & software/ services

Delivering the most reliable solution for C&I applications

Providing supply chain relief with cellular metering solutions supporting key grid mod use cases

+

Grid Edge Intelligence

Large-scale Revelo Deployment

Milestone at National Grid (NY): over 118k deployed, via a Wi-SUN network

WINNING PARTNERSHIPS

Supporting grid modernization

• net zero goals for 530k customers, enabled by Revelo
• a Wi-SUN network

Smart grid technology with

Revelo and grid edge apps

Comprehensive AMI solution led by future-proofed Revelo platform

+

Smart Infrastructure

Delivering AMI 3.0 Benefits with full AMI System Upgrade at TEPCO, the World's Largest IoT Utility Network

WINNING PARTNERSHIPS

Contracted with Enerpro for 1,000 INCH PRO Level 2 chargers

Cutting-edgeRevelo-enabled

Wi-SUN pilot highlighting

Cisco interoperability

AMI water solution under the shared WE Energies network

Magno	Next Gen Grid	World leading G480	Global Analytics, Head End	EV Chargers,
& Flexibility Management
Cabinet Meter	Sensor Revelo	Ultrasonic Gas	Software & Mobile App
Platforms

5 | © Landis+Gyr 2024 | FY 2023 Results

Leading Revelo Adopters Across North America

The only grid edge platform available today with streaming high resolution waveform data on every device

Over 5m+ Revelo and multiple grid edge apps running on millions of sensors, contracted and in active deployment

6 | © Landis+Gyr 2024 | FY 2023 Results

EMEA - Winning with Leading Utility Partners

+

Smart Metering

Significant growth in core market revenues driven by partnerships with key players

WINNING PARTNERSHIPS

Regional win of 150k+ metering points with Oiken (CH)

Successful market expansion for

E660 win with E.ON (SE)

Secured contracts for 800k endpoints in the UK before end of 2026 with two of the largest UK energy suppliers

+

Grid Edge Intelligence

Accelerated deployment in the Nordics, Belgium, Austria and South Africa

WINNING PARTNERSHIPS

GridFlex Control solution for 50k endpoints with SES

Deployment of solutions and services package for 2.5m endpoints

Smart Grid Technology with residential meters and edge apps

+

Smart Infrastructure

Major wins in Europe with key e-mobility players in the market

WINNING PARTNERSHIPS

Awarded frame contract for deployment of INCH Pro Chargers in Portugal

Awarded frame contract for deployment of INCH Duo Chargers across EU

Porsche subsidiary awarded contract for deployment of INCH Pro and Duo Chargers in Europe

IoT Ready Grid Edge	World leading Ultrasonic	Global Analytics & Flexibility	EV Chargers,
Residential E360	Smart Water Meter	Management Platforms	Software & Mobile App

7 | © Landis+Gyr 2024 | FY 2023 Results

APAC - Winning with Leading Utility Partners

+

Smart Metering

Major achievement at CLP, Hong Kong

with 2m smart meters deployed

WINNING PARTNERSHIPS

Won 5-year smart metering contract in Western Australia

Won renewal of 3-year gas contract with leading gas utility in Victoria Australia

Won 80k units of smart metering and communications in Hong Kong

+

Grid Edge Intelligence

More than 700k E360 grid edge

meters deployed

WINNING PARTNERSHIPS

Won over 300k units of grid edge metering orders

Awarded 1.8m RF components from Indian joint venture with Esyasoft

+

Smart Infrastructure

Expanding service revenues with continued growth in SaaS services

WINNING PARTNERSHIPS

Won 3-year extension for SaaS

DML, Seamless connect Smart

Water

Placed an additional 11k smart meters

Won largest EV installations at

Auckland airport

Hong Kong: CLP won 3x IDC Future Enterprise Awards for its AMI system, which is also a recognition of Gridstream solution and smart meter offering and services to customer

EV charging partner for large commercial property

Grid Edge Ready	Smart Water	Global Analytics & Flexibility	EV Chargers,
E360	Ultrasonic NB-IoT	Management Platforms	Software & Mobile App

8 | © Landis+Gyr 2024 | FY 2023 Results	*Deployment started in 2023

Partnership Overview

Landis+Gyr and SPAN Announce Partnership to Unlock

Electrification and DER Flexibility at the Grid Edge

Landis+Gyr and SPAN form a strategic partnership to cost- effectively advance electrification, create grid flexibility, and build resilience. The collaboration brings together two energy industry leaders to help utilities increase electrification, unlock Distributed Energy Resource (DER) flexibility management, and enhance customer engagement.

SPAN Home Energy Management System paired with Landis+Gyr grid edge intelligence offers superior metering and control capabilities, redefining AMI 2.0 and enabling the cost effective grid management of the future

9 | © Landis+Gyr 2024 | FY 2023 Results

Partnership Overview

10 | © Landis+Gyr 2024 | FY 2023 Results