19 May 2020ZEISS Group, Half-Year Press Conference 2019/20

Carl Zeiss AGHalf-Year Press ConferenceWeb Call19 May 2020 | 10 a.m.

Dr. Karl LamprechtPresident & CEO

Dr. Christian MüllerChief Financial Officer

All documents available for download:www.zeiss.com/pressconference

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 2

As of 31 March 2020All figures in euros.*Like-for-like

Revenue

3,213M+6% (+3%*)

Incoming orders

3,601M+14% (+10%*)

Consolidated profit

297M+16M

EVA

222M-32M

EBIT

455M+12M

Employees

31,906+5%

ZEISS Group First half of the fiscal year at a glance

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 3

EMEA

938M-3%*

Americas

652M+1%*

APAC

801M-4%*

Collaborations

822M+16%*

of which Germany

321M-8%*

ZEISS Group Global revenue distribution

Revenue trendDirect business in RDEs

682

1st six monthsof 2019/20

1st six monthsof 2018/19

673M-4%*

1st six months of 2019/20

Around 90 percent of revenue generated outside Germany

*Like-for-like compared to prior yearDirect-to-market business without collaborations (except for collaborations)

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 4

Sustained high demand in EUV and in DUV lithography systems

No significant impact due to the COVID-19 pandemic

1,634

2nd HY

1st HY

904M+18% (+17%*)

Revenue

Semiconductor Manufacturing Technology

1st six months of 2019/20

865

769

2019/202018/19

*Like-for-like

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 5

Metrology is experiencing a considerable impact due to the COVID-19 pandemic resulting from weak developments in the automobile industry

GOM leads to growth inoptical metrology

Microscopy business is stable

1,742

2nd HY

1st HY

922

820

865M+5% (-7%*)

Revenue

Industrial Quality & Research

1st six months of 2019/20

2019/202018/19

*Like-for-like

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 6

Ophthalmology and neurosurgery contribute to growth

Impact of the COVID-19 pandemic lead to a distinct weakening in Q2

1,760

2nd HY

1st HY

959

801

2019/20

834M+4% (+3%*)

Revenue

Medical Technology

1st six months of 2019/20

2018/19Not identical to Carl Zeiss Meditec AG.*Like-for-like

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 7

In the Consumer Markets segment, the Vision Care saw stable development in the first six months

Impact of the COVID-19 pandemic can already be felt strongly

1,211

2nd HY

1st HY

576M-3% (-3%*)

Revenue

Consumer Markets

1st six months of 2019/20

618

593

2019/202018/19

*Like-for-like

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 8

R&D expenditure totaled 12 percent of revenue to strengthen innovation power

705

2nd HY

1st HY

398M+76M

R&D expenditure

ZEISS Group

1st six months of 2019/20

383

322

2019/202018/19

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 9

Investments increased – sustainability becoming even more important437

2nd HY

1st HY

2018/19 2019/20

215M+82M

Investments in property, plant and equipment

ZEISS Group

1st six months of 2019/20

304

133

234

129

105

215

123

Investmentsin property, plant and equipment

Depreciationson property, plant and equipment

ZEISS Innovation Hub @ KIT

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 10

1,063

2nd HY

1st HY

2018/19 2019/20

455M+12M

Free cash flow

ZEISS Group

620

443

1,382

2nd HY

1st HY

2018/19

619M+33M

EBIT

796

586

2019/20

EBITDA

2018/19

180M-161M

2019/20

8062nd HY

1st HY

465

341

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20

1st six months of 2019/20

Consistent cost management as part of the resilience measures

Outlook

11

Liquidity situation remains stable1,740

30 September 2019

31 March2020

1,362M-186M

Gross and net liquidity

ZEISS Group

Gross liquidity

Net liquidity

1,548

1,3621,489

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 12

Equity ratio at 47 percent3,990

30 September 2019

31 March 2020

4,179M+5%

Equity

ZEISS Group

1st six months of 2019/20

4,179

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 13

Good development overall in first six months

Semiconductor Manufacturing Technology and Medical Technology segments in particular contribute to growth

Positive key performance indicators

Increased investment in R&D and digitalization

ZEISS Group Summary of first half of fiscal year

ImpactCOVID-19 pandemic

Drop in business across almost all areas

Semiconductor Manufacturing Technology segment still on track for growth

Resilience program launched early on proves effective

Safety, Continuity, Stability, Recovery

Portfolio servesmegatrends

Future-proof portfolio makes ZEISS strong and resilient

Acquisition of highly innovative units that can unlock their potential in the ZEISS portfolio

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20

Opportunities

Strong market position

Balanced portfolio driven by megatrends

Further opportunities through digital solutions and remote services

Increasing research expenditure globally in life sciences

Forecast

Difficult to form outlook

Impact of the COVID-19 pandemic leads to expectation for drop in revenue and EBIT

Economy

Global economy expected to face considerable challenges due to the COVID-19 pandemic

Economic uncertainty due to possible recession, changes to value chain, etc.

Measures

Focus on stability

Continuation of resilience measures

Safety, Continuity, Stability, Recovery

Maintaining innovative power

ZEISS Group Outlook for second half of fiscal year

14

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20 15

If you have any questions, please do not hesitate to contact us.

Jörg NitschkeZEISS GroupHead of Corporate Brand and CommunicationsPhone: +49 (0)7364 20-3242Email: joerg.nitschke@zeiss.com

All documents available for download:www.zeiss.com/pressconference

19 May 2020ZEISS Group, Half-Year Press Conference 2019/20