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ZURICH, SWITZERLAND | JULY 18, 2024 | BJÖRN ROSENGREN, CEO; TIMO IHAMUOTILA, CFO

Q2 2024 results
Solid demand; record-high Operational EBITA margin
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Important notices

This presentation includes forward-looking There are numerous risks and uncertainties, many and reconciliations between these measures
information and statements including of which are beyond our control, that could cause and their US GAAP counterparts can be found
our actual results to differ materially from the in the “Supplemental Reconciliations and
statements concerning the outlook for our forward-looking information and statements made Definitions” section of the “Financial Information”
businesses. in this presentation and which could affect our ability booklet found under “Q2 2024” on our website at
to achieve any or all of our stated targets. global.abb/group/en/investors/quarterly-results.
These statements are based on current
The important factors that could cause such
expectations, estimates and projections differences include, among others:
about the factors that may affect our future • business risks associated with the volatile global
economic environment and political conditions
performance, including global economic
• costs associated with compliance activities
conditions, and the economic conditions
• market acceptance of new products and services
of the regions and industries that are major
• changes in governmental regulations and
markets for ABB Ltd. currency exchange rates.
These expectations, estimates and projections Although ABB Ltd believes that its expectations
are generally identifiable by statements reflected in any such forward-looking statement
are based upon reasonable assumptions, it can give
containing words such as “expects,” “believes,”
no assurance that those expectations will be
“estimates,” “targets,” “guidance”, “plans,” achieved.
“outlook,” “on track,” “framework” or similar This presentation contains alternative performance
measures. Definitions of these measures
expressions.

Slide 2
 01.
Financial performance
Orders flat1 yoy, Revenue +4%1; Op. EBITA +10% year-on-year;
Op. EBITA margin 19.0% +150 bps; to some extent supported by non-repeats
Free cash flow $918 mn, +$312 mn YoY

02.
Sustainability
ABB’s scope 1, 2 and 3 targets for 2030 and 2050 were approved by the Science Based
Target initiative (SBTi).

03.
Investing for the future
ABB launches OmniCore next-generation Robotics control platform;
allows robots to operate 25% faster and consume up to 20% less energy.
ABB to expand electrification portfolio with announced acquisition of Siemens’ Wiring

— Accessories business in China; annual revenues of more than $150 million in 2023.
ABB invests in Ndustrial to accelerate decarbonization through AI-powered energy
Q2 2024 highlights management technologies.
ABB invests in strategic partnership with GridBeyond.
Solid demand, record-high
Operational EBITA margin 04.
New Business Area leaders announced
Giampiero Frisio appointed the new President of the Electrification Business Area
and Brandon Spencer as the new President of the Motion Business Area.

1. YoY comparable
© 2024 ABB. All rights reserved. Slide 3
— Orders 0%1

Short-cycle order growth returns 8,807 8,667 8,435

Q2 2024 results
20

Notable orders developments (comparable % YoY, unless otherwise indicated) 2 0

Short-cycle
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Low-single digit growth driven by Electrification and Motion 22 22 22 23 23 23 23 24 24

Orders ($ mn) Orders growth (comparable % YoY)

Data centers
Very strong growth
Revenues +4%1
Discrete 8,239
8,163
Growth in consumer and general industry offset by weakness in 7,251
automotive and machine builder segments

Process
17
Strong underlying momentum with strength noted in power generation
and chemicals; weakness in pulp & paper, metals and mining
4
Transport & infrastructure 6
Positive in marine, ports and rail; buildings up year-on-year driven by
commercial in the US; residential remains weak Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24

Revenues ($ mn) Revenues growth (comparable % YoY)

Order backlog grew +4%1 to $22 bn

Slide 4 1. YoY comparable. Book-to-bill 1.02
—
Declining in Americas and Europe, growing in AMEA
Q2 2024 regional, country orders
The Americas -4%
USA
Impacted by timing of large orders in last
year period. Underlying strong. Steep -1%
growth in RA; strong growth in EL; decline
in PA; strong decline in MO
Canada +2%
Mexico -13%

Europe -4%
Germany
Steep growth in EL and PA; steep decline in -13%
MO and RA
Italy +11%
Netherlands +58%

AMEA +9%

China
Slight decline in EL and MO; steep decline -7%
in PA and RA

India +3%
Australia +105%

Slide 5 All data presented on a YoY comparable basis; all growth comments refer to comparable growth trends. Performance highlighted for largest 3 countries in $ mn terms in each region.
EL = Electrification. MO = Motion. PA = Process Automation. RA = Robotics & Discrete Automation.
—
Record-high Operational EBITA
margin of 19% reported
Profitability drivers Operational EBITA +10%
Gross Profit 1’564
1’425
+12%1
19.0
Gross profit as a % of revenues increased from 35.4% to 38.5%; 1’136
expansion in 3 out of 4 business areas 17.5

SG&A expenses
15.5
+4%1
SG&A expense as a % of revenues at 17.3%, up slightly from 17.0%;
driven primarily by higher sales expense across all business areas
supporting revenue growth
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24
Corporate and Other Operational EBITA
-$67 mn, of which: Op. EBITA ($ mn) Op. EBITA margin (%)

Corporate costs and Other +$20mn, including $75mn non-repeats

E-mobility -$87mn, including -$48mn of impairments
Operational EBITA margin +150 bps

Basic $0.59 Cash flow from +$1,067 mn

EPS +$0.10 YoY operating activities +$307 mn YoY

Slide 6 1. Constant currency.

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Record-high revenues, earnings and margin
Q2 2024 Electrification
4,500 35 4,500 25 900 26
23.2
17 21.1
11 22
7 9
3,500 3 10 3,500 7 10 450 17.6
18

2,500 -15 2,500 -5 0 14

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24

Orders ($ mn) Orders growth (comparable % YoY) Revenues ($ mn) Revenues growth (comparable % YoY) Op. EBITA ($ mn) Op. EBITA margin (%)

Orders $4,073 mn Revenues $3,809 mn Operational EBITA $887 mn, +13% YoY
Strong growth in short-cycle offset decline Growth driven mainly by volume with Margin +210 bps YoY
in long-cycle impacted by timing of large additional support from targeted pricing
orders in the prior year actions Margin improvement driven by higher
volumes improving cost absorption and
Strength in infrastructure and data centers; Execution of the order backlog combined continuous improvement measures; slight
buildings up, driven by commercial in the with higher demand in short-cycle positive price impact
US offsetting weakness in residential resulted in stable to positive development
in virtually all divisions Margins improved in virtually all divisions
Growth in all regions despite slight decline led by both Smart Power and Distribution
in China, which stabilized sequentially Book-to-bill 1.07x QTD Solutions
Backlog $7.5 bn (prior Q-end $7.4 bn)
Slide 7
—
Short-cycle order growth and strong profitability
Q2 2024 Motion
2,500 26 35 2,500 22 30 500 20.4 22
19.9
20
2,000 20 2,000
3 10 250 16.4 18
3
1,500 5 1,500 -1
-4 0

1,000 -10 1,000 -10 0 14

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24

Orders ($ mn) Orders growth (comparable % YoY) Revenues ($ mn) Revenues growth (comparable % YoY) Op. EBITA ($ mn) Op. EBITA margin (%)

Orders $2,014 mn Revenues $1,951 mn Operational EBITA $388 mn, -3% YoY
Growth in the short-cycle offset by declines Strong execution of the order backlog was Margin -50 bps YoY, but still at a high level
in the long-cycle businesses on the back of offset by declines in short-cycle of 19.9%
high comparables businesses where order improvement did
not yet convert to revenues Decrease driven by operational leverage
Strength in rail and power generation; HVAC on lower volumes in short-cycle
positive driven by commercial buildings; Higher pricing was more than offset by businesses, partially offset by improved
slowness noted in chemicals and metals; oil lower volumes in the short-cycle profitability in the long-cycle divisions
& gas down on high comparable base
Book-to-bill 1.03x QTD Positive price more than offset the
Backlog $5.7 bn (prior Q-end $5.6 bn) negative impacts from inflation

Slide 8 1. Oil & Gas

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Continued strong execution
Q2 2024 Process Automation
15.4 15.5
2’500 60 2’500 30 300 16
14.3
25 35 19
2’000 6 10 2’000 20
10 12 150 13
1’500 1’500 7 10
-15

1’000 -40 1’000 0 0 10

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24

Orders ($ mn) Orders growth (comparable % YoY) Revenues ($ mn) Revenues growth (comparable % YoY) Op. EBITA ($ mn) Op. EBITA margin (%)

Orders $1,802 mn Revenues $1,717 mn Operational EBITA $263 mn, +10% YoY
Markets remain buoyant with robust Strong growth driven by execution of the Margin +10 bps YoY
project pipeline intact; order growth high order backlog as well as service
supported by relatively easy comparable Supported by execution of the order
Revenue growth in 3 out of 4 divisions backlog with a higher gross margin,
Strength in marine, ports and chemicals; partially offset by slight increase in SG&A,
oil & gas stable; negative order Strong growth across all regions which declined as a percentage of revenues
development in pulp & paper, metals and Book-to-bill 1.05x QTD
mining
Backlog $7.4 bn (prior Q-end $7.3 bn)

Slide 9
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Robotics orders improving; machine automation under pressure
Q2 2024 Robotics & Discrete Automation
1’500 65 1’500 150 20
27 35
15.3
1’000 23 1’000 15
11.1
15 10 75
500 -17 500 -5 8.2 10
-22 -8

0 -35 0 -15 0 5
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24 22 22 22 23 23 23 23 24 24

Orders ($ mn) Orders growth (comparable % YoY) Revenues ($ mn) Revenues growth (comparable % YoY) Op. EBITA ($ mn) Op. EBITA margin (%)

Orders $688 mn Revenues $833 mn Operational EBITA $93 mn, -34% YoY
Robotics orders improved slightly, offset by Revenues declined in both divisions and Margin -420 bps YoY
a sharp decline in Machine Automation across all regions
Lower production volumes triggered
Robotics demand increased in general Positive order development in Robotics under absorption in both divisions, and
industries and service; partially offset by did not yet convert to revenues; Machine largest margin decline in Machine
declines in automotive and electronics Automation impacted by market Automation
slowdown
Machine Automation impacted by earlier Machine Automation initiated actions to
pre-buys and soft underlying market which Book-to-bill 0.83x QTD defend future profitability; benefits from
is expected to remain for the rest of the year these measures expected towards the end
of the year
Backlog $1.8 bn (prior Q-end $1.9 bn)
Slide 10
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Operational EBITA bridge
Operational EBITA
margin (%)
17.5% 19.0%

Accretion / dilution
+1.2 +0.1 +0.1 +0.1
(%)

-31 -10
15 1,564
-13

178

1,425

Operational performance
Operational EBITA $147 million
($ mn)
Q2 2023 Volume/price Operations Items FX Portfolio Q2 2024
impacting changes
Comparable revenues +4% comparability
growth
Slide 11 Operations include $58 mn related to a reduction in self-insurance liabilities
Items impacting comparability: Non-core business. Portfolio changes: Acquisition of Siemens NEMA motor, Divestment of Power Conversion businesses
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Strong cash delivery
Q2 2024 cash flow drivers Free cash flow
(+$918 mn, +$312 mn YoY)

($ mn)
3’667

Improved cash flow from operating activities in all

business areas driven by:
• Lower build up of Net working capital; all key

1’713
components of NWC improved versus the prior year
1’469
• Slight increase in operational performance

1’186

918
CAPEX stable versus prior year 653
768

551
471
262

645

162

606
Strong cash delivery at least similar to last year’s level -463

-725
2022 2023 2024

Q1 Q2 Q3 Q4 H1 FY
Slide 12
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Outlook

Q3 2024 FY 2024
Revenues Revenues
Sequentially higher growth Comparable revenue growth
rate in comparable to be about 5 percent;
revenues Book-to-bill above 1

Operational EBITA % Operational EBITA %

Operational EBITA margin Operational EBITA margin
around 18.5% or slightly to be about 18%
below

Slide 13
Q&A
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Appendix
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2024 framework

Q2 24 Q3 24 20241 6M 24 2024
$ mn unless otherwise stated framework framework framework

~(200) ~75
Corporate and Other Operational EBITA2 20 ~(75) Net finance expenses 53
from ~(300) from ~(50)

~24%4
Effective tax rate 24.5%
Non-operating items: from ~25%

PPA-related amortization (57) ~(45) ~(210)

Capital expenditure (366) ~(900)
~(250)
Restructuring and related3 (63) ~(70)
from ~(200)

ABB Way transformation (53) ~(60) ~(200)

1. Excludes one project estimated to a total of ~$100 million, that is ongoing in the non-core business. Exact exit timing is difficult to assess due to legal proceedings etc.
2. Excludes Operational EBITA from E-mobility business.
3. Includes restructuring and restructuring-related as well as separation and integration costs.
4. Excludes the impact of acquisitions or divestments or any significant non-operational items.

Slide 16