BUSINESS YEAR 2023

Forbo Holding AG / Key word(s): Annual Results BUSINESS YEAR 2023 05-March-2024 / 06:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. MEDIA RELEASE AD HOC ANNOUNCEMENT PURSUANT TO ARTICLE 53 OF THE SIX EXCHANGE REGULATION LISTING RULES

Slight decline in net sales in local currencies – operating profit impacted by lower demand and adverse currency effects – double-digit EBIT margin – Group profit slightly higher than previous year – significantly increased free cash flow – dividend CHF 25 per share

The Forbo Group, a leading producer of floor coverings, building and construction adhesives, as well as belts for power transmission and lightweight conveyor technology, generated net sales of CHF 1,175.2 million in the 2023 business year. In local currencies, this represents a decline of 2.9% and corresponds to a decrease of 9.1% in the corporate currency, due to strongly adverse currency effects. Operating profit (EBIT) decreased by 2.0% to CHF 129.9 million (previous year: CHF 132.6 million). Group profit was at CHF 102.3 million, 0.9% higher than the previous year (CHF 101.4 million). Free cash flow more than doubled to CHF 115.9 million (previous year: CHF 50.5 million).

Baar, March 5, 2024

After the first glimmers of hope in a challenging market environment and a slight recovery in the first half of the year, the geopolitical and macroeconomic situation deteriorated increasingly from the third quarter onwards. As a result, Forbo also experienced a slowdown in market momentum and a resulting decline in demand, which intensified in the fourth quarter and was reflected in lower volumes. In addition, the year was characterized by significant adverse currency effects on net sales and earnings.

Forbo implemented targeted measures to improve profitability and efficiency and further operational improvements. Our operating structures were adapted to the lower volumes, inventories were reduced, and the necessary sales price increases were implemented. These measures compensated for the increased personnel cost due to inflation and the continuing high energy cost. Overall, Forbo achieved a significantly higher cash generation.