Duerr Investor Relations presentation March 2018

INVESTOR RELATIONS PRESENTATION
Bietigheim-Bissingen, March 2018
www.durr.com
Corporate Communications & Investor Relations Dürr AG

2© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, March 2018
DISCLAIMER
This publication has been prepared independently by Dürr AG/Dürr Group (“Dürr”). It may contain statements which address such key issues as strategy, future financial results,
events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not
limited to those described in Dürr´s disclosures, in particular in the chapter “Risks” in Dürr´s annual report. Should one or more of these risks, uncertainties and other factors
materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of Dürr may vary materially from those
described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,”
“estimate,” “will,” “project” or words of similar meaning. Dürr neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of
developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external
agencies.
Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International
Financial Reporting Standards). Dürr´s net assets, financial position and results of operations should not be assessed solely on the basis of these alternative financial metrics.
Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The
calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial
metrics used at Dürr can be found in our financial glossary on the Dürr web page (http://www.durr.com/investor/service-faqs-glossar-contact/glossary/financial-glossary/).

3
AGENDA
1. Executive Summary
Our five divisions2.
Group strategy3.
Group financials, markets and outlook4.
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, March 2018

Worldwide leading supplier of efficient production
technologies with outstanding digital expertise. Major
customer groups: automotive, furniture and general
industry
Innovation leader driven by automation, digitization and
networked production
Highly cash generative; flexible production facilities with
pronounced focus on NWC; strong ROCE
Expanding service business with healthy margins and
further growth potential
Group structure with efficient processes; further growth via
acquisitions. HOMAG can be seen as a blueprint for
further acquisitions
4
1. EXECUTIVE SUMMARY

Market shares between 30 and 60% in different machinery
and engineering activities
Strong emerging markets presence with ca.
50% share of global incoming orders
Share of current incoming orders: 55% automotive
business, 45% general industry, e.g. furniture, machinery
Net exposure to combustion engine technology negligible
High entry barriers with limited number of competitors
Business drivers:
Greenfield: growing markets
Brownfield: replacement potential
Service: installed base
Automation, digitization & networking
5
1. EXECUTIVE SUMMARY
Dürr: global leader in strong competitive position
Fast factsCustomers

6
AGENDA
Group strategy3.

Paint and
Final Assembly
Systems
• Incoming orders
€ 1,210 m (1,094 m)
• Sales
€ 1,175 m (1,140 m)
• EBIT
€ 70 m (77 m)
• Operating EBIT
€ 70 m (82 m)
• EBIT margin
6.0% (6.8%)
• Operating EBIT margin
6.0% (7.2%)
Application
Technology
• Incoming orders
€ 602 m (583 m)
• Sales
€ 620 m (561 m)
• EBIT
€ 64 m (76 m)
• Operating EBIT
€ 64 m (59 m)
• EBIT margin
10.3% (13.6%)
10.4% (10.5%)
Clean Technology
Systems
• Incoming orders
€ 166 m (177 m)
• Sales
€ 185 m (167 m)
• EBIT
€ 3 m (6 m)
• Operating EBIT
€ 3 m (6 m)
• EBIT margin
1.8% (3.7%)
1.8% (3.7%)
Measuring
and Process
Systems
• Incoming orders1
€ 531 m (683 m)
• Sales1
€ 511 m (624 m)
• EBIT1
€ 65 m (80 m)
• Operating EBIT1
€ 66 m (80 m)
• EBIT margin
12.7% (12.8%)
12.9% (12.8%)
Woodworking
Machinery and
Systems
• Incoming orders
€ 1,366 m (1,165 m)
• Sales
€ 1,224 m (1,082 m)
• EBIT
€ 86 m (45 m)
• Operating EBIT
€ 94 m (71 m)
• EBIT margin
7.0% (4.1%)
7.7% (6.6%)
7
2. OUR FIVE DIVISIONS
Divisional breakdown 2017 (2016)
Dürr AG
1 decline due to sale of Ecoclean as of March 2017

8
2. MARKET SHARE DÜRR/COMPETITORS1
Paint Dürr 50%, Eisenmann 10-15%, Taikisha/Geico 20%
local competitors: AE, Giffin, Gallagher Kaiser, Trinity (Toyota)
Final Assembly Dürr, Rofa, Scivic, Siemens, Eisenmann
Paint and Final Assembly Systems
Dürr ~50%, ABB ~20%, Fanuc ~15%, Yaskawa ~10%; local competitor: DoolimApplication Technology
Dürr 40-50%2, John Zink/KEU 20%, CTP 10%Clean Technology Systems
Dürr 31%, Biesse 12%, scm group 11%, Schelling/IMA 7%; local competitors: Nanxing, KTD
Woodworking Machinery
and Systems
Balancing Dürr 46%, CEMB 16%, Kokusai 8%
Filling Dürr 48%, Fives 16%, SAT 8%
Testing Dürr 50%, Burke Porter Group 21%, Fori 10%
Measuring and
Process Systems
1 own estimates, average of last 3 years
2 market share relating to business with exhaust-gas purification systems for automotive paint shops

Turn-key paint shops for the automotive industry (OEMs, suppliers)
Final assembly systems (e.g. conveyor equipment, control systems)
Service and modernization of existing sites
9
2. PAINT AND FINAL ASSEMBLY SYSTEMS
Paint shops and final assembly systems
1 including extraordinary expenses in connection with the closure of a smaller plant in Austria (€ 4.9 m)
2 including extraordinary expenses of € 5-10 m due to the FOCUS 2.0 optimization program
in € m 2016 2017 2018e
Incoming orders 1,094 1,210 1,000-1,200
Sales revenues 1,140 1,175 1,100-1,200
EBIT 771 70 -
EBIT margin 6.8%1 6.0% 4.0-5.0%2
ROCE >100% >100% >100%

10
2. PAINT AND FINAL ASSEMBLY SYSTEMS: REFOCUSING
PROGRAM
Re-allocation of OEM spending to
new product developments 2015/2016
Continued cost pressure and unfavorable
pricing
Local competitors gaining
market shares in Asia Pacific
PRODUCT
COST
EFFICIENCY
BUSINESS
PORTFOLIO &
GROWTH ORGANIZATION
Action required for
Paint and Final
Assembly Systems

Product cost
Reduction product
costs
Plastic painting –
new setup
Efficiency
Capacity adjustment
Optimization
manufacturing footprint
Sales process
optimization
Business portfolio &
growth
Service growth
Digital Factory
China: increase of
local competencies
Final assembly
repositioning
Organization
Global structure of
System Center/
Business Center
Optimization Dürr
Systems Group: closer
cooperation within the
divisions
11
2. PAINT AND FINAL ASSEMBLY SYSTEMS
Optimization program FOCUS 2.0: 6-7% EBIT margin goal in 2020

High-tech systems and software for automated paint application, glueing
processes and seam sealing (e.g. robots, atomizers, color change
systems, quality assurance)
Interior painting  automation potential
Economic lifetime of paint robots: 12-14 years  replacement cycle just
beginning
Strong service potential (e.g. spare parts) due to increased installed base
12
2. APPLICATION TECHNOLOGY
Paint application, glueing and sealing technology
1including extraordinary income of € 17 m
in € m 2016 2017 2018e
Incoming orders 583 602 600-650
Sales revenues 561 620 600-650
EBIT 761 64 -
EBIT margin 13.6%1 10.3% 10.0-11.0%
ROCE 40.0%1 28.9% 27-32%

Application products: components & automated paint solutions
Complete range of application products for general industry (e.g.
plastics, wood, furniture, construction)
Pre-installed and ready2spray robot system, jointly developed by
Kuka and Dürr. Kuka will provide the compact robot and Dürr the
paint application technology.  integrated solution is unique to
the market.
Target: € 50 m revenue by 2020
13
2. APPLICATION TECHNOLOGY
Addressing new markets: General industry
31%
31%
23%
8%
7%
Nordson
Others
Graco
Finishing Brands
Iwata
Competition1
1 Market size ~ € 3 bn

14
2. PAINT BUSINESS1
BUSINESS DRIVERSTYPE
Expansion of capacity in new and existing locations
Replacement of old and non-productive plants
Increased quality requirements especially in the emerging markets
Efficiency enhancements: cost reductions (e.g. energy, material); cycle times
Flexibility: addition of new models/facelifts to existing painting lines
Automation: e.g. interior painting of vehicles
Environmental regulation: stricter emissions laws
Continuous demand: spare parts, upgrades, training
Wear & tear of aging installed base: smaller modernizations and upgrades
Greenfield
Brownfield
Service
1 Divisions Paint and Final Assembly Systems and Application Technology

Incoming orders increased by 90% within 9 years, mostly due to higher demand in brownfield & service business
15
2. PAINT BUSINESS1
Brownfield with growing importance
1 Divisions Paint and Final Assembly Systems and Application Technology
61%
15%
24%
48%
24%
28%
Greenfield Brownfield Service
35%
35%
30%
Incoming orders 2008: € 950 m Incoming orders 2017: € 1,812 m Incoming orders 2020e

Drivers: energy prices, regulation, environmental issues
Customer split: 25% automotive; 25% chemistry, petrochemistry,
pharmacy; 50% other industries
Streamlining at loss making energy efficiency technologies started
EBIT margin goal: 6-7% in 2020
16
2. CLEAN TECHNOLOGY SYSTEMS
Exhaust air purification systems & energy efficiency systems
in € m 2016 2017 2018e
EBIT 6 3 -
EBIT margin 3.7% 1.8% 3.0-4.0%
ROCE 13.6% 5.6% 15-20%

High market shares in all businesses
Positioned globally with a high degree of localization
Strong footprint in China with local production, R&D etc.
17
2. MEASURING AND PROCESS SYSTEMS
Highly profitable machinery niches with global presence
1 Due to sale of Ecoclean business as of March 31, 2017
(2016: business volume € ~ 200 m) not fully comparable
in € m 2016 2017 2018e
EBIT 80 65 -
EBIT margin 12.8% 12.7% 12.5-13.5%
ROCE 24.9% 24.9% 30-35%

Filling
Assembly & testing
Balancing
18
2. MEASURING AND PROCESS SYSTEMS
Three strongly performing machinery niche players
Balancing of rotating parts and components for
many manufacturing industries, service centers
Filling of appliances (refrigerators, air
conditioners and others)
Filling automotive – end of line
End of line assembly and testing equipment for
the automotive industry

Product range from stand-alone machines through to complete,
automated production lines for efficient woodworking
Major customers: Furniture industry, construction supplies and timber
home construction
Strong need for automation: Batch one production, fully digitized
process from order to delivery
31% market share, biggest customer: IKEA (~ 5% of sales)
19
2. WOODWORKING MACHINERY AND SYSTEMS
World market leader HOMAG Group acquired to capture automation trend in the industry
in € m 2016 2017 2018e
Incoming orders 1,165 1,366 1,350-1,500
Sales revenues 1,082 1,224 1,300-1,400
EBIT 45 86 -
EBIT margin 4.1% 7.0% 7.5-8.0%
ROCE 11.3% 22.5% 25-30%

Transformation for substantial value creation
"Fix the house"
2016/2017
Optimize portfolio
Standardization
Efficiency improvement in
functions and processes
Develop project business
ONE HOMAG
Sustainable
profitable growth
2018/2019
Profitable project business
Digitization (e.g. tapio)
Expansion of product range
(e.g. surface technology)
Service excellence
Innovation push
Internationalization
Standardization
2017/2018
Expansion China & USA
Innovation & product modularization
Localization of engineering &
development
ERP rollout
20

Project business: Clear margin improvement since 2014
Final acceptance
09/2015 - 08/2016
Final acceptance
02/2014 - 01/2015
Final acceptance
09/2016 - 08/2017
EBIT margin according to budget
AbsolutechangeofEBITmarginbetweenbudgetandFAC
21

China accounts for ca. 40% of world furniture production
HOMAG: China order share increased from 12% in 2014
to 16% in 2017
Tier-1 and tier-2 sales split will turn from dominant tier 1
contribution towards higher tier-2 share
Measures
Expansion of product range towards simpler and cheaper
solutions & standardization of machines
Expansion of manufacturing capacity to a production
volume of € ~150 m within the next years
Rollout of new sales concept with strong key account
management, also in China
Service capacity increase due to machinery sales growth
Increase local engineering & development capacity
Enabling HOMAG to tap market potential in China
HOMAG China order intake
65
82
108 113
146
216
0
50
100
150
200
250
2012 2013 2014 2015 2016 2017
in € m
22

23
AGENDA
Group strategy3.

24
3. DÜRR STRATEGY 2020
Dürr strategy 2020 targets: up to € 5bn sales, 8-10% EBIT margin, >30% ROCE

20%
8%
28%3%
41%
Invest Energy Personnel Service Material
25
3. STRATEGY
Innovation: R&D efforts focused on tangible customer value
Cost per unit in a paint shop
Ø cost per unit in a current paint shop
= € 3201
1 Compared to € 420 15 years ago
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
kWh/unit
Reduction of resource consumption/emissions in paint shops of a German OEM
0.0
0.5
1.0
1.5
2.0
m³/unit
0
0.5
1
1.5
2
2.5
3
3.5
kg/unit
0
1
2
3
4
5
6
l/unit
Energy Paint²Water VOC
-67% -71% -73%
-36%
2 In spray booth only

26
3. STRATEGY
Innovation: digital@DÜRR – 4 smart dimensions
• e.g. iTAC.MES.Suite,
ADAMOS IIoT platform,
digital market places LOXEO
and tapio
• e.g. predictive maintenance,
documentation/maintenance
via pad, internet, QR code
Smart
Products
Smart
Processes
Smart
Factories
Smart
Services
• e.g. on-demand energy supply
for ovens, smart pumps with
reduced maintenance efforts
• e.g. virtual commissioning,
virtual engineering, additive
manufacturing

Founding partners ADAMOS GmbH:
DMG Mori, Dürr, Software AG, Carl Zeiss, ASM
Establish ADAMOS as industry standard
On edge, on premise and in the cloud
Leading edge technologies
Large combined installed base
"White label" solution allows for
company-individual IIoT market places
ADAMOS App Factory develops new apps
27
3. STRATEGY
Innovation: Full line IIoT offering reinforces leading market position against pure software providers
ADAMOS: Adaptive Manufacturing Open Solutions
Next step: Scaling up ADAMOS by integrating additional partners from the machinery industry

LOXEO and tapio: market places for IIoT apps and digital services
Suppliers’ and competitors’ machines can also take part and contribute
information/data
No software vendor lock-in
Dürr Digital Factory: 70 specialists develop new apps
3. STRATEGY: DIGITAL SOLUTION PROVIDER FOR OUR
CUSTOMERS
Two digital market places as enablers for digital manufacturing
Customer benefit of LOXEO and tapio:
optimizing production, increasing system availability
28

29
3. STRATEGY
Globalization: High investments in network of locations – reinforcement of local activities
in € m 2013 2014 2015 2016 2017
Capex 51.2 54.9 102.3 81.9 88.0
Acquisitions 34.8 242.1 42.0 13.6 15.3
Total 86.0 297.0 144.3 95.5 103.3
Extension of global presence: Reinforcement of new markets
but also investments in established markets of North America
and Germany with good prospects
15 production, test and engineering centers: extended,
modernized or newly built
Campus concept transferred to key locations: more efficient
processes, open communication and sustainable energy
concept
Capex spending in 2018e: € 75-85 m
New Dürr Campus in Shanghai, China

30
3. STRATEGY
Acquisition course to be continued / HOMAG takeover as a blueprint for acquisitions
2017: Minor bolt-on acquisitions
Criteria for major „HOMAG II“ acquisition:
Target areas: mechanical engineering,
automation technology, measuring systems,
environmental
World market & innovation leadership
No restructuring cases but earnings
improvement and synergy potential
Making use of Dürr‘s excellent positioning
in global/emerging markets
Corporate culture should fit
Sales size up to € 1.5 billion
Valuation must be reasonable

31
3. STRATEGY
Service: Long-term target 30% of sales
2014 2015 2016 2017
Sales revenues (in € m) 634.1 884.9 981.9 945.9
In % of group sales 24.6 23.5 27.5 25.5
Strengthening service business and capacities in emerging
markets (e.g. China, India, Mexico) with disproportionately
high potential
Service pricing, dedicated offerings, complaint management
system, decentralized ware-housing, delivery speed
2017: Service sales +1% on a like-for-like basis, reaching
25.5% of total sales
CAGR since 2012: 13%

42%
40%
18%
Modifications and
upgrades
Spare parts and
repairs
Maintenance,
assessments,
seminars
32
3. STRATEGY
Service
Service type in % of revenues
0
2,000
4,000
6,000
8,000
10,000
12,000
Number of paint robots sold (cumulative figure)

Further globalization of Dürr processes
Global processes with full utilization of SAP/CAX/CRM/SharePoint
Global IT platforms, integrated systems, one single database, continuous capex spending
Expansion of sourcing offices and manufacturing in China, India, Mexico, Brazil
Rigorous localization of Dürr products in the emerging markets
Supplemental product portfolio with low-cost/low-end solutions; local added value
Reduction of specifications
Consistent portfolio optimization to improve profitability
Example: Sale Dürr Ecoclean 2017
Cash inflow € 108 m, book gain € 23 m
Low-margin business
Focus on conventional power train technology (internal combustion engine) with limited growth perspective
Further optimizations among others: Aircraft assembly technology sold in 2014; French production facility sold in 2014;
Austrian workshop closed in 2016; Energy efficiency streamlining started in H1 2017
33
3. STRATEGY
Efficiency: Global processes, localization & portfolio optimization

34
AGENDA
Group strategy3.

35
NET INCOME SURPASSED THE € 200 M MARK
in € m 2014 2015 2016 2017
Incoming orders 2,793.0 3,467.5 3,701.7 3,876.0
Orders on hand (end of period) 2,725.3 2,465.7 2,568.4 2,516.3
Sales 2,574.9 3,767.1 3,573.5 3,715.4
Gross profit on sales 591.1 828.0 858.3 858.3
Gross margin (%) 23.0 22.0 24.0 23.1
EBIT 220.9 267.8 271.4 289.6
EBIT before extraordinary effects 237.4 294.3 286.4 281.8
EBIT margin (%) 8.6 7.1 7.6 7.8
EBIT margin (%) before extraordinary
effects
9.2 7.8 8.0 7.6
Net income 150.3 166.6 187.8 201.5
1 Adjusted by FX and Ecoclean sale

36
4. CHANGED PREPAYMENT PATTERN
Free cash flow still positive in 2017
in € m 2014 2015 2016 2017
EBT 204.7 244.5 258.1 269.9
Other aggregated items of cash flow 12.3 66.3 2.9 21.3
Net working capital changes 74.3 -137.8 -33.6 -171.4
Cash flow from operating activities 291.2 173.0 227.4 119.8
Interest paid (net) -16.6 -10.4 -15.8 -17.9
Capex -53.6 -99.8 -81.6 -87.5
Free cash flow 221.1 62.8 129.9 14.3
NWC increase due to a changed payment pattern of customers (lower prepayments); no major change in 2018
Decline in cash flow due to increase in NWC, cash flow improvement in 2018 expected

37
4. SOLID FINANCIAL RATIOS
12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017
Equity in € m 511.4 725.8 714.4 831.0 903.7
Equity ratio in % 25.7 24.4 23.9 24.8 26.5
Net financial status in € m 280.5 167.8 129.4 176.5 191.5
Net working capital in € m -33.1 87.6 236.8 194.4 362.1
DWC (days working capital) -4.9 12.2 22.9 27.2 35.1
ROCE in % 76.2 38.7 45.3 41.11
39.51
Equity ratio increased to 26.5% in 2017; equity ratio of 30% as long-term goal
Net financial status expected to reach € 240-280 m at year end 2018
ROCE for FY 2018 should reach the upper end of 30-40% range
1 adjusted for the sale of Dürr Ecoclean

20.3 20.4 22.6
22.1 23.0
25.1
22.0 22.9
25.2
27.1 28.9
34.5
2.5
2.9
3.6
0.0
20.0
40.0
60.0
80.0
100.0
120.0
2017 2018 2022
Others China Asia (w/o China) Europe Americas
+3%
38
Growth drivers until 2022: China, India, South East Asia, Russia & Iran
1 Light vehicles production
Source: PwC, Autofacts
Last update: January 2018
Ʃ 94.0 Ʃ 98.1
Ʃ 111.0
+16%
+7%
+4%
+4%
+3%
+6%
+5%
+2%
+2%
+4%
CAGR
4. FURTHER GROWTH IN THE CAR MARKET
in m units1
0%

39
4. TRADITIONAL OEMS WITH HIGH INVESTMENTS1
IN 2017 AND 2018
Capex mix could shift towards e-mobility, self-driving, connected cars
in € bn 2012 2013 2014 2015 2016 2017e 2018e
BMW 5.0 6.6 6.0 5.8 5.7 6.3 6.9
Daimler 6.4 6.7 6.1 6.8 8.4 10.0 9.5
FCA 5.4 5.5 5.9 6.7 6.3 6.4 6.8
Ford 4.2 5.1 5.7 6.2 6.4 6.5 7.0
GM 6.2 6.2 5.4 6.7 8.7 8.3 7.4
Renault 1.9 2.5 2.4 2.7 2.0 3.3 3.5
PSA 1.9 2.2 2.2 2.8 3.3 3.9 4.9
VW 12.9 15.1 16.1 17.8 18.5 18.8 18.1
Total 43.9 49.9 49.8 55.5 59.3 63.5 64.1
1 Capex spending incl. capitalized R&D, Source: Deutsche Bank

40
Strong growth in markets for rest of decade
2,682
3,135
583
703285
390
0
1,000
2,000
3,000
4,000
5,000
2016 2020e
Machinery for
wooden houses
Machinery for doors,
windows, flooring
Furniture machinery
market
Sources: CSIL, Euroconstruct,
Holzbauverband, competitor data,
regional expert evaluation
Ʃ 3,550
Ʃ 4,229
CAGR +4%
4. WOODWORKING MACHINERY MARKETS
in € m
83% 14% 3%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
HOMAG Sales Share
+4%
+5%
+8%
39%
12%
5%
4%
4%
36%
Furniture production
breakdown
China
US
Germany
Italy
India
Other

Sales in € m
2,575
3,767
3,574
3,715
3,700-
3,900
2014 2015 2016 2017 2018e
41
4. OUTLOOK: FURTHER GROWTH IN SALES EXPECTED
8.6
7.1
7.6 7.8
7.0-
7.5
2014 2015 2016 2017 2018e
EBIT margin in %
2,793
3,467
3,702
3,876
3,600-
3,900
2014 2015 2016 2017 2018e
Order intake in € m
Declining EBIT margin due to swing in extraordinary effects (extraordinary effects 2018e: € 15-20 m, thereof € 5-10 m
for FOCUS 2.0 optimization program at Paint and Final Assembly Systems)
EBIT margin before extraordinary effects approx. stable
23.0 22.0
24.0 23.1 23.5
2014 2015 2016 2017 2018e
Gross margin in %

03/22/2018 Publication annual report 2017 (no conference call)
03/22/2018 MainFirst Corporate Conference, Copenhagen
04/18/2018 Lampe Conference, Baden-Baden
05/03/2018 Goldman Sachs Small & Midcap Symposium, London
05/09/2018 Annual General Meeting, Bietigheim-Bissingen
05/16/2018 Interim statement for the first quarter of 2018
06/08/2018 Societe Generale Nice Conference, Nice
08/09/2018 Interim financial report for the first half of 2018
42
4. FINANCIAL CALENDAR
Günter Dielmann
 guenter.dielmann@durr.com
 +49 7142 78-1785
Stefan Tobias Burkhardt
 stefantobias.burkhardt@durr.com
 +49 7142 78-3558
Mathias Christen
 mathias.christen@durr.com
 +49 7142 78-1381
Dürr Corporate Communications & Investor Relations Contact

Appendix

44
NEW MANAGEMENT BOARD STRUCTURE
Dr. Jochen Weyrauch
Member of the Board
 Paint and Final Assembly
Systems
 Measuring and Process
Systems
 Clean Technology Systems
 Information Technology
 Corporate Development
(including M&A)
Carlo Crosetto
CFO
 Finance / Controlling
 Investor Relations
 Risk Management
 Legal Affairs / Patents
 Global Sourcing
 Corporate Social
Responsibility
Ralf W. Dieter
CEO
 Application Technology
 Woodworking Machinery and
Systems
 Public Relations
 Human Resources (Employee
Affairs Director)
 Research and Development
 Quality
 Internal Auditing
 Corporate Compliance

45
KEY DATA OF THE SHARE
WKN / ISIN 556 520 / DE0005565204
Bloomberg / Reuters Due / dueg
Class of shares Common bearer shares
Index Category e.g. MDAX (Performance); CDAX (Performance); FAZ Index, Stoxx 600
Trading centers / stock exchange
Stuttgart (regulated market)
Frankfurt (regulated market)
Several open markets
Capital stock € 88.6 million
Number of shares 34,601,040
Market capitalization as of 2018/02/16 € 3,649 m

25.3%
3.5%
71.2%1
Heinz u. Heide Dürr Stiftung
46
SHAREHOLDER STRUCTURE/DIVIDEND POLICY
Free float at 71.2%1
Institutional and private investors
- Thereof AXA S.A. 5.1%2)
- Thereof The Goldman Sachs Group: 4.7%2)
- Thereof Deutsche Bank AG: 4.7%2)
- Thereof Morgan Stanley: 4.0%2)
- Thereof MainFirst: 3.2%2)
- Thereof Alecta Pensionsförsäkring: 3.2%2)
- Thereof members of the
Dürr Board of Management: 0.2%2)
- Thereof members of the
Dürr Supervisory Board: 0.1%2)
Heinz Dürr GmbH
1 Free float calculated according to Deutsche Börse AG
2 According to the relevant laws

47
SHARE PRICE DEVELOPMENT
Remarkable long-term
outperformance compared to
DAX & MDAX
Dürr highly benefited from China
boom due to its strong emerging
markets presence
HOMAG takeover in 2014 took
some time to be understood, but
then levered the Dürr share.
In 2015, China fears impacted the
stock markets and Dürr, too.
Skeptical view on Dürr in early
2016 changed with strong
quarterly results
Digitization as further value driver
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
2010 2011 2012 2013 2014 2015 2016 2017 2018
Dürr
indexiert
DAX
indexiert
MDAX
indexiert

48
DIVIDEND POLICY
Dividend policy: 30-40% payout ratio
0.00 €
0.15 €
0.60 €
1.13 €
1.45 €
1.65 €
1.85 €
2.10 €
2009 2010 2011 2012 2013 2014 2015 2016
in € 2009 2010 2011 2012 2013 2014 2015 2016 2017
Earnings
per
share
-0.78 0.19 1.79 3.10 4.05 4.33 4.67 5.26 5.62
Dividend
per
share
0.00 0.15 0.60 1.13 1.45 1.65 1.85 2.10 -1
Total
payout
0.0m 5.2m 20.8m 38.9m 50.2m 57.1m 64.0m 72.7m
-1
Payout
ratio
- 32% 32% 35% 38% 38% 38% 39%
-1
Consensus estimate for 2017 dividend at € 2.20e per share
1 not yet available

49
ANALYSTS’ VIEW ON DÜRR
23 equity research analysts cover Dürr
ø target price: 108.39 €
Target price range between 75 and 130 €
86% recommend to buy or hold the Dürr share
41%
45%
14%
Buy Hold Sell

50
FIXED INCOME
Key data Bond / Bonded loan („Schuldscheindarlehen”)
Bond Bonded loan („Schuldscheindarlehen”)
WKN / ISIN A1YC44 / XS1048589458 -
Issued volume EUR 300 million EUR 300 million
Coupon 2.875% 1.6% in average
Maturity /
Repayment
April 3, 20211
5, 7, 10 years (issued March 2016)
Nominal value EUR 1,000.00 -
Stock exchange /
listing
regulated market Luxembourg Stock Exchange, unofficial trading
German stock exchanges
-
Rating Since 2010 it does exist neither a company rating nor a bond rating -
Syndicated loan held by Dürr AG: € 465 million
Bilateral credit facilities of a smaller volume and liabilities from finance leases

51
EQUITY STORY
Good reasons to be invested in Dürr
World market leadership: In ~95% of its product portfolio with market shares between 30 and 60%  high entry barriers
Service potential: Increased installed base is starting point for a growing and profitable service business.
Market positioning: About 40-50% of the business volume from emerging markets. Best positioned in competition.
Growth: Organic growth expected at ~3% p.a.. Further acquisitions should contribute to the expansion.
Technology leader: Dürr enables customers to reduce costs per units and thus to increase production efficiency.
Industry 4.0 / smart factory: Leading due to intelligent solutions (e.g. ADAMOS, MES)
Value creation: ROCE exceeds cost of capital significantly – ROCE 2017 at 39.5 %, cost of capital 2017 at 7.9%.
Continuity: Continuous improvement of earnings since 2010; 7th consecutive record year with steady increase of dividend.

52
VALUE MANAGEMENT
The most important performance indicators at Dürr
Incoming orders
Sales
EBIT
ROCE (EBIT/Capital employed).
Cash flow from operating activities
Free cash flow
Economic Value Added (EVA)
Also non-financial performance indicators tracked, e.g.
Employee and customer satisfaction
Training/education
Ecology/sustainability
R&D/innovation
Key figures
FY
2012
FY
2013
FY
2014
FY
2015
FY
2016
FY
2017
Incoming
orders
2,596.8 2,387.1 2,793.0 3,467.5 3,701.7 3,876.0
Sales
revenues
2,399.8 2,406.9 2,574.9 3,767.1 3,573.5 3,715.4
EBIT 176.9 203.0 220.9 267.8 271.4 289.6
Operating
cash flow
117.6 329.1 291.3 173.0 227.4 119.8
Free cash
flow
65.9 261.9 221.1 62.8 129.9 14.3
ROCE 47.4 76.2 38.7 45.3 41.1 39.5
EVA 99.3 124.3 121.6 146.2 142.5 145.5

Duerr Investor Relations presentation March 2018

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Duerr Investor Relations presentation March 2018

Notes de l'éditeur