RATIONAL (RAA) investor relations material

Company overview and strategy

• Focuses exclusively on commercial kitchens, providing intelligent, multifunctional cooking systems for 50 years.

• Main customer segments are restaurants with service and community catering, each accounting for about 40% of sales.

• Adapts to industry trends like digitization, automation, and sustainability, helping customers save costs and improve efficiency.

• Addresses labor shortages with intelligent systems that reduce the need for skilled personnel.

• Product portfolio centers on iCombi Pro, iVario Pro, and the newly launched iHexagon, all emphasizing speed, energy efficiency, and food quality.

Product innovation and technology

• iCombi Pro combines steam and dry heat for healthy, efficient cooking, usable by untrained staff.

• iVario Pro offers direct contact heat, is up to 4x faster than competitors, and saves up to 40% energy.

• iHexagon, launched in March, integrates microwave technology for even faster cooking, targeting high-volume, high-speed environments.

• ConnectedCooking cloud platform enables remote control, monitoring, and software updates, with both free and subscription-based services.

• After-sales business, including accessories and services, makes up 30% of sales.

Market position and growth outlook

• Holds about 50% global market share in combi steamers; significant untapped potential remains, especially for iVario.

• Achieved 8-9% CAGR over the past decade, aiming to return to mid to high single-digit growth as sales organizations expand.

• Growth expected mainly from overseas markets with low penetration, while Europe remains stable.

• iVario segment is growing faster due to lower market penetration.

• Margin target is 25-26%, with recovery from COVID-related dips and guidance for 2025 at the lower end of this range.