HB2021

Key Figures 1st Half 2021 Net Sales in CHF million 384.7 9 8 2 7 1 0 2 5 2 3 8 1 0 2 5 5 3 9 1 0 2 5 3 3 0 2 0 2 5 8 3 1 2 0 2 Net Income in CHF million 63.7 8 3 7 1 0 2 8 4 8 1 0 2 3 5 9 1 0 2 1 4 0 2 0 2 4 6 1 2 0 2 Operating Cash Flow in CHF million 64.6 EBIT in CHF million 75.6 in % of net sales 19.7 Earnings per Share (EPS)¹) in CHF 5.2 1 . 3 7 1 0 2 9 . 3 8 1 0 2 3 . 4 9 1 0 2 4 . 3 0 2 0 2 2 . 5 1 2 0 2 Net Sales per Employee in CHF 1 000 210.2 5 3 7 1 0 2 7 5 8 1 0 2 3 5 9 1 0 2 1 5 0 2 0 2 5 6 1 2 0 2 9 9 1 7 1 0 2 9 0 2 8 1 0 2 4 1 2 9 1 0 2 5 8 1 0 2 0 2 0 1 2 1 2 0 2 ¹) A twenty-for-one share split was conducted in April 2021. The EPS-values for prior periods have been adjusted in the interests of comparability.

Management Report Economic Recovery Fuels Growth Dear Shareholders, With a faster-than-expected rebound in con- struction activity, Belimo has seen a rapid return to above-average sales growth in the first half of 2021. Overall, net sales grew by 16.9 percent in local currencies as compared to the first half of 2020. In Swiss francs, net sales increased by 14.7 percent to CHF 384.7 million, and Belimo logged several all-time output records. Overview On a year-to-year comparison, the Asia Pacific market region has shown the best performance, growing at 18.8 percent in local currencies and 17.6 percent in Swiss Francs. The Americas market region followed, with 16.8 percent in lo- cal currencies (9.9 percent in Swiss Francs), and Europe recorded a net sales plus of 16.6 per- cent in local currencies (17.7 percent in Swiss Francs). As the safety measures of the pandem- ic have impacted the second quarter of 2020 significantly, a comparison with the strong first half of 2019 also shows solid net sales growth (in Swiss Francs) of 8.3 percent. A vigorous and unexpected increase in demand from industries such as automotive, comput- ing, communications, and consumer electron- ics has resulted in a near-term supply shock, triggering an unprecedented global shortage in semi-conductors and many other raw ma- terials. Despite the pressure on these supply chains, Belimo successfully maintained sup- plier and warehouse management, resulting in high product availability and thus once more proving the Company’s Operational Excellence. These circumstances have also led to inflation- ary pressures in raw material prices and in the Americas especially in wages. In terms of profitability, the Group reported earnings before interest and taxes (EBIT) of CHF 75.6 million (HY1 2020: CHF 55.4 million). The EBIT margin rose to 19.7 percent (16.5 per- cent) due to operational leverage and continued Net Sales by Market Regions in CHF 1 000 Europe Americas Asia Pacific Group 1st half 2021 195 392 143 319 46 015 384 727 Growth in local currencies in % 16.6 16.8 18.8 16.9 % 51 37 12 100 1st half 2020 166 026 130 353 39 116 335 495 Belimo Semiannual Report 2021 % 49 39 12 100 1

Management Report reduced expenditures for travel, marketing and training, among other factors contributing to the margin increase. Belimo achieved a net in- come of CHF 63.7 million (CHF 41.2 million) and earnings per share of CHF 5.18 (CHF 3.36 1) ). The Group generated a free cash flow of CHF 52.1 million (CHF 38.8 million). Net liquid- ity at the end of June 2021 was CHF 110.6 mil- lion, and the equity ratio was 79.0 percent. Europe In the Europe market region, solid demand in the construction industry led to a record half- year. At the same time, inflationary pressures were felt throughout the European construc- tion market, with shortages and price hikes in construction materials challenging customers. ¹) A twenty-for-one share split was conducted in April 2021. The EPS for the prior period has been adjusted in the interests of comparability. Labor shortages also became a more promi- nent issue, limiting contractor growth and their ability to accept new projects. Nevertheless, the contracting business has de- veloped exceptionally well, as did also the origi- nal equipment manufacturer (OEM) business, which experienced a solid first half-year. Water applications in particular ended the first half- year with a high growth rate, although air ap- plications also enjoyed above-average growth rates. The sensor business that is included in both air and water applications grew very strong. Due to pent-up demand, the replace- ment business showed more vigorous growth overall than did new construction. The largest market in the European market region, Germany, showed double-digit sales growth. A particular focus during this time was on retrofit jobs in the education and public sec- tor that included upgrading air handling units to Net Sales 1st Half in CHF million 5 8 3 5 5 3 5 3 3 5 2 3 9 8 2 EBIT/Net Income 1st Half in CHF million 7 6 3 5 0 6 8 4 5 5 1 4 9 4 8 3 EBIT 6 7 4 6 Net income 7 1 0 2 8 1 0 2 9 1 0 2 0 2 0 2 1 2 0 2 7 1 0 2 8 1 0 2 9 1 0 2 0 2 0 2 1 2 0 2 Belimo Semiannual Report 2021 2

Management Report comply with more stringent indoor air quality requirements. Energy-efficiency improvements have also been a driver for non-residential reno- vation projects in the context of the EU Climate Target Plan. The replacement of heating boilers with heat pumps, to give one example, led to a higher number of Belimo products being in- stalled. As construction markets in Spain and France had suffered the most due to the total lock- downs implemented a year ago, they unsur- prisingly showed the most robust comeback with a more significant number of small to medium-sized jobs. Similarly, the Italian mar- ket developed well, with broad-based growth development in both contracting and OEM applications. Americas Predominantly in the US, the availability of vaccines has allowed economic activity in the Americas market region to resume with great speed and has fostered a much more robust business climate in comparison with a year ago. A combination of pent-up demand from projects on hold in 2020 and new demand driv- en by the need for better indoor air quality in existing buildings led to double-digit growth in the market region. Additional factors included the lifting of contractor access restrictions to facilities and domestic travel restrictions. Strong demand continued from the data center vertical in the US and Canada, followed by the education and healthcare sectors. As a result of robust data center demand and heightened awareness of indoor air quality, sales of ac- tuators and sensors for air applications have grown significantly in comparison with 2020. Field devices for water applications have also shown positive results, with solid contributions from pressure-independent product lines. Con- tracting business was also positive, with higher order volumes from distributors and key ac- counts. All countries in the market region showed good development. The acquisition of Opera Elec- tronics Inc. in December 2020 was a further source of share gain for Belimo Canada. Asia Pacific Most of the Asia Pacific market region enjoyed a healthy start into 2021 at levels above those of 2020 and 2019, supported by the ongoing economic recovery. The contracting business in markets such as China, India, and Malaysia performed strongly because it had been af- fected the most by last year’s lockdowns. OEM business, on the other hand, remained stable. Like in 2020, the speed of recovery across the market region was depending on the contain- ment of the virus and corresponding restric- tions. As China had already overcome the pan- demic in the spring of last year, the country’s heating, ventilation and air-conditioning (HVAC) market felt barely any negative impact in 2021. Meanwhile, India and several South-East Asian countries continued to struggle with recurring waves of the pandemic and slow vaccine roll- outs, although to a lesser degree than in 2020, as lockdowns have been more targeted and less harmful to the overall economy. The Chinese HVAC market showed very high growth rates in the first half of 2021, due to strict lockdowns and a slow contracting busi- ness in early 2020, with many projects on the market. The most positively performing verticals in China were data centers, health- care, and infrastructure. In the medical and hospital markets, Belimo has acquired several significant projects which have increased its market share. Particularly worth mentioning is the Wuhan Changfu Hospital, a large hospital complex of 236 000 square meters (2.5 million Belimo Semiannual Report 2021 3

Management Report square feet) and the first of its kind in China, focusing on combined epidemic prevention and control. The infectious disease building is equipped with 100 beds, while an additional 900 regular beds can be converted into infec- tious disease beds in accordance with emer- gency needs for epidemic prevention. More than 300 Belimo Energy Valves™ and 2 200 Belimo ZoneEase™ Variable Air Volume (VAV) zone actuators ensure that the HVAC system controls conditions in both standard and epi- demic situations. In India, the HVAC market grew at a much slower pace than expected earlier this year due to the severe second COVID-19-wave, which peaked at the end of April. As infection numbers in India have slowly decreased in the meantime, the country’s high growth rate has surpassed even that of China, as the Indian economy had ground to a halt in the first half of last year. The water market share has grad- ually increased, thanks to gratifying electronic pressure independent valve and Belimo Energy Valve™ sales. Across the Asia Pacific market region, the growth rate for water applications has been considerably higher than that of air applica- tions. Growth Strategy and Innovation Grow Existing Business In its first growth initiative, “Grow Existing Busi- ness with Actuators and Valves,” Belimo suc- cessfully launched the smallest damper actua- tor, the UM/UH actuator. It is the perfect answer to increased indoor air quality requirements in zone applications in schools, hotels, and resi- dential buildings. The air distribution systems in these buildings require compact, quiet, and reliable actuators for controlling air diffusers in individual zones to achieve air pattern optimi- zation. Another innovation was the launch of the BKN-BACnet UL solution that enables remote damper testing and BACnet bus communication for the North American fire and safety product range. Remote testing of fire and smoke damp- ers offers building owners the considerable ad- vantage of not having to inspect every safety actuator manually, thus increasing safety and decreasing maintenance costs. A further highlight is the VRU Universal VAV controller for variable air volume control (VAV) that was introduced last year. The timing of the introduction has proven to be perfect: the importance of these applications in sensitive areas such as laboratories or hospitals has increased noticeably due to stricter indoor air quality standards. Customer acceptance has been excellent, as shown by more than a thou- sand applications in laboratories at one of the large Swiss pharma companies. Furthermore, the Design-to-Order process (DTO) offering of the service and logistics center in Großröhrs- dorf (Germany) became ready just in time. It is bound to benefit from the increased demand for retrofit solutions requiring highly flexible mechanical, electrical, and software configura- tions/bundles. Enter Sensor Business With respect to sensors, the second stra- tegic initiative of Belimo, sales showed robust growth rates in the reporting period, especially in China and the Americas. Particularly CO2 sensors that measure indoor air quality in rooms or ducts have seen an uptick in de- mand. Customized sensors and customer-spe- cific labeling, which the Großröhrsdorf site has been offering since mid-2020, have also suc- cessfully been introduced in the Asia Pacific market regions and in the Americas. During the period under review, Belimo Sensors Inc., Montreal (the last year acquired Opera Electronics Inc.), began shipping a new line of specialty air quality and gas detection sensors Belimo Semiannual Report 2021 4

Management Report and initiated the UL approval process in prepa- ration for US market introduction in 2022. Another highlight in the sensor business was the introduction of the Duct Sensor Assistant App that allows sensor configuration and verifi- cation via smartphone. Offer Selected Performance Devices The performance device offering, a combina- tion of sensor, actuator, and valve technology and embedded logic, has seen a significant ad- vancement with the market launch of the fourth generation of the Belimo Energy Valve™ and Thermal Energy Meters announced in a major online event in June (watch it herehere). This new product lineup will be phased in over the next six months. The Belimo Energy Valve™ 4 provides certified thermal energy metering (bill- ing grade) among many new functions, while also featuring all of the advantages of the cur- rent Belimo Energy Valve™ 3 versions, such as controlling power and optimizing Delta T. In the field of digital collaborations, the Compa- ny registered enthusiastic interest from various metering, analytics, and building IoT companies such as SkyBill, PassiveLogic, or BuildingsIoT regarding connection with the Belimo Core Cloud. These third-party applications, which form the “Belimo Digital Ecosystem Collabo- rators,” elaborate and aggregate the data ac- quired by Belimo field devices and transform it into a holistic building context for advanced building models. Grow Asia Pacific The fourth Belimo growth strategy, “Grow Asia Pacific,” looks back at a solid first half of 2021. China has shown firm growth rates. Belimo opened the eleventh sales office in the Xi’an metro area as planned and invest- ed further in the development of its Chinese employees and in a strong company culture. Another focus in China was online training activities with many successful sessions and the resumption of trade show activities. Also to be mentioned here is the impressive dis- play Belimo featured at the China Refrigera- tion exhibition in Shanghai, which drew more than 1 500 visitors. In India, the year started out very promising, de- spite a heavy second wave of COVID-19. After a delay of several months, our new India head- quarters in Navi Mumbai is now scheduled for opening in January 2022. The new building will host an Experience Center for customer train- ing, logistics, customization, technical support, and other services. The building is designed to achieve the Indian Green Building Council (IGBC) Platinum rating and includes some of the most innovative technologies, such as a Belimo motorized sun shading system. Outlook Belimo remains confident about all three of its market regions for the second half of 2021. The demand for both new buildings and the refur- bishment of existing buildings is expected to remain strong. For the HVAC industry, this de- mand is further accelerated by the underlying drivers of indoor air quality and energy efficien- cy. Shortages in the building material supply chain and subsequent price spikes may how- ever cause delays for certain projects. Anoth- er hampering factor is the shortage of skilled labor in the field of building technology profes- sionals. Consequently, Belimo expects sales revenue growth to slow slightly over the year, also due to a comparatively solid base in the second half of 2020, and expects to complete the year with an annual sales growth rate ahead of its five-year average. The risks of adverse impacts due to COVID-19 containment measures remain, as do exchange rate fluctuations, and these may weigh nega- tively on profitability in 2021. Additionally, high- Belimo Semiannual Report 2021 5

Management Report er freight and material costs and the resump- tion of traveling, marketing, training, and other activities are expected. Finally, Belimo contin- ues to allocate significant resources to its long- term strategic initiatives and to the hiring of skilled personnel. Acknowledgment Customer Value, Operational Excellence, Solu- tion Leadership, and Credibility Culture are the basis for the solid company culture of Belimo. Thanks to living these values and a concen- trated organic growth strategy, we succeed in contributing to the comfort, energy efficiency, safety, installation, and maintenance in build- ings. In the first half of 2021, our employees contin- ued to work in a challenging environment under the strictest of safety restrictions. We therefore say thank you and congratulate on an outstand- ing performance. As a shareholder of Belimo, you can create enduring, sustainable value for all our stake- holders, with a long-term impact on society, the environment, and the performance of the business. We appreciate your trust in Belimo. BELIMO Holding AG Patrick Burkhalter Chairman of the Board of Directors Lars van der Haegen CEO Belimo Semiannual Report 2021 6

Financial Summary in CHF million Net sales Material expenses incl. changes in inventories in % of net sales Operating income (EBITDA) in % of net sales Operating income (EBIT) in % of net sales Net income in % of net sales Cash effective investments in property, plant and equipment and intangible assets Cash flow from operating activities in % of net sales Free cash flow in % of net sales 1st half 2021 1st half 2020 Change 384.7 152.5 39.6% 91.8 23.9% 75.6 19.7% 63.7 16.6% 12.5 64.6 16.8% 52.1 13.5% 335.5 134.9 40.2% 71.0 21.2% 55.4 16.5% 41.2 12.3% 12.1 50.8 15.1% 38.8 11.6% 14.7% 13.0% 29.4% 36.4% 54.6% 3.4% 27.2% 34.3% Earnings per share (EPS), in CHF 1) 5.18 3.36 54.5% Number of employees (FTEs) as at June 30 1 848 1 830 1.0% 1) In April 2021, a twenty-for-one share split has been conducted. EPS for the previous year has been adjusted for reasons of comparability. Alternative performance measures that are not defined or specified in IFRS, are described under the following link: www.belimo.com/financial-summary www.belimo.com/financial-summary Belimo Semiannual Report 2021 7

Consolidated Financial Statements Consolidated Income Statement in CHF 1 000 Net sales Material expenses Changes in inventories Personnel expenses Other operating income/expenses EBITDA 3) Depreciation and amortization Earnings before interest and taxes (EBIT) Financial income Financial expenses Foreign exchange gain/loss Financial result Note 1st half 2021 % 1) 3 3 384 727 – 155 301 2 793 – 102 108 – 38 269 91 842 – 16 227 75 615 133 – 883 2 135 1 385 100.0 – 40.4 0.7 – 26.5 – 9.9 23.9 – 4.2 19.7 – – 0.2 0.6 0.4 1st half 2020 restated 2) 335 495 – 140 951 6 026 – 97 215 – 32 386 70 969 – 15 552 55 417 83 – 838 – 4 476 – 5 231 % 1) 100.0 – 42.0 1.8 – 29.0 – 9.7 21.2 – 4.6 16.5 – – 0.2 – 1.3 – 1.6 Earnings before taxes (EBT) 77 000 20.0 50 186 15.0 Income taxes – 13 321 – 3.5 – 8 983 – 2.7 Net income Attributable to shareholders of BELIMO Holding AG Attributable to non-controlling interests 63 679 16.6 41 203 12.3 63 761 – 82 16.6 – 41 269 – 66 12.3 – Earnings per share, in CHF 4) 5.18 3.36 There are no options or other instruments that could have a dilutive effect. 1) in % of net sales 2) see note 1.3 3) Alternative performance measures are described under the following link: www.belimo.com/financial-summary www.belimo.com/financial-summary. 4) In April 2021, a twenty-for-one share split has been conducted. EPS for the previous year has been adjusted for reasons of comparability. Belimo Semiannual Report 2021 8

Consolidated Financial Statements Consolidated Statement of Comprehensive Income in CHF 1 000 Net income Currency translation adjustment Tax effect Items that are or may be reclassified subsequently to the income statement Remeasurements of post-employment benefits Tax effect Items that will not be reclassified subsequently to the income statement Other comprehensive income, net of tax Total comprehensive income Attributable to shareholders of BELIMO Holding AG Attributable to non-controlling interests 1) see note 1.3 1st half 2021 1st half 2020 restated 1) 63 679 41 203 5 992 – 186 5 807 – 2 615 511 – 4 040 93 – 3 947 – 10 639 2 188 – 2 105 – 8 451 3 702 – 12 398 67 381 67 464 – 83 28 805 28 872 – 67 Belimo Semiannual Report 2021 9

Consolidated Financial Statements Consolidated Balance Sheet in CHF 1 000 Cash and cash equivalents Trade receivables Inventories Other assets Current tax assets Current assets Property, plant and equipment Intangible assets Non-current financial assets Non-current employee benefit assets Deferred tax assets Non-current assets Assets Trade payables Other liabilities Current financial liabilities Current provisions Current tax liabilities Current liabilities Non-current financial liabilities Non-current provisions Non-current employee benefit liabilities Deferred tax liabilities Non-current liabilities Liabilities Equity attributable to shareholders of BELIMO Holding AG Equity attributable to non-controlling interests Shareholders’ equity Liabilities and shareholders’ equity Note June 30, 2021 December 31, 2020 3 4 5 5 123 965 117 891 112 701 9 358 3 032 164 942 81 269 105 461 9 361 283 366 947 361 316 187 473 186 671 17 852 2 985 – 17 571 2 861 2 550 12 236 12 490 220 546 222 142 587 493 583 458 25 360 63 248 4 620 8 044 4 143 18 831 45 228 4 565 4 297 5 444 105 416 78 364 8 741 3 555 5 218 266 9 375 1 098 3 874 1 485 17 781 15 831 123 197 94 195 464 399 – 103 489 283 – 20 464 297 489 263 587 493 583 458 Belimo Semiannual Report 2021 10

Consolidated Financial Statements Consolidated Statement of Changes in Equity Share capital Treasury shares Capital reserves Currency translation adjustment Retained earnings Attributable to share- holders of BELIMO Holding AG Attribut- able to non- controlling interests Total share- holders’ equity 615 – 67 23 814 – 7 101 – 1 161 490 028 507 289 55 507 344 1 161 – – 615 – 67 23 814 – 8 262 491 189 507 289 55 507 344 – 3 946 32 817 – 92 241 28 872 – 92 241 – 67 28 805 – 92 241 615 – 67 23 814 – 12 208 431 765 443 919 – 12 443 907 615 – 224 24 110 – 16 675 – 1 161 481 457 489 283 – 20 489 263 1 161 – – 615 – 224 24 110 – 17 836 482 618 489 283 – 20 489 263 5 807 61 657 67 464 – 83 67 381 –104 – 92 243 –104 – 92 243 –104 – 92 243 in CHF 1 000 As at January 1, 2020 Restatement 1) As at January 1, 2020, restated 1) Total comprehensive income Dividends As at June 30, 2020, restated 1) As at January 1, 2021 Restatement 1) As at January 1, 2021, restated 1) Total comprehensive income Purchase of treasury shares Dividends As at June 30, 2021 615 – 328 24 110 – 12 028 452 031 464 399 – 103 464 297 1) see note 1.3 Belimo Semiannual Report 2021 11

Consolidated Financial Statements Consolidated Statement of Cash Flows in CHF 1 000 Net income Income taxes Interest result Depreciation of property, plant and equipment Amortization of intangible assets Gain on sale of property, plant and equipment Non-cash items non-current employee benefits Other non-cash items Change in net working capital Change in other current receivables and assets Change in other current payables and liabilities Change in provisions Income taxes paid Cash flow from operating activities Investments in property, plant and equipment Investments in intangible assets Purchase of financial assets Sale of property, plant and equipment Interest received Acquisition of companies minus acquired cash and cash equivalents Cash flow used in investing activities Purchase of treasury shares Dividends paid Interest paid Repayment of lease liabilities Cash flow used in financing activities Currency translation adjustment Change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 1) see note 1.3 Note 1st half 2021 1st half 2020 restated 1) 4 5 2 6 63 679 13 321 353 12 969 3 257 – 103 1 254 342 – 33 442 – 1 789 16 685 6 200 – 18 138 64 588 – 9 261 – 3 232 – 122 140 132 – 136 – 12 479 – 104 – 92 243 – 446 – 2 050 – 94 843 41 203 8 983 375 12 635 2 917 – 126 816 – 214 – 8 357 – 1 797 9 011 – 38 – 14 628 50 780 – 9 376 – 2 706 – 91 142 58 – – 11 974 – – 92 241 – 456 – 1 848 – 94 546 1 757 – 1 302 – 40 977 – 57 041 164 942 123 965 172 563 115 522 Belimo Semiannual Report 2021 12

Notes to the Consolidated Financial Statements 1 General 1.1 Corporate Information The Belimo Group (hereinafter referred to as “Belimo” or “the Group”) is a leading global manufac- turer of innovative electrical actuator solutions, valve systems, and sensors for heating, ventilation, and air conditioning (HVAC) systems. The shares of BELIMO Holding AG have been traded on the SIX Swiss Exchange since 1995 (BEAN). The registered office is in Hinwil (Switzerland). The busi- ness activities of Belimo are not subject to any significant seasonal fluctuations. 1.2 Basis of Preparation These unaudited consolidated interim financial statements 2021 have been prepared in accor- dance with accounting standard IAS 34 Interim Financial Reporting, and should be read in con- junction with the consolidated annual financial statements 2020. In general, the same estimates and assumptions as in the consolidated annual financial statements 2020 were applied. However, income taxes were calculated using the expected tax rate for the 2021 financial year. The defined benefit obligation for post-employment benefits has been remeasured applying BVG 2020 genera- tion tables for the demographic assumptions and introducing the Continuous Mortality Investiga- tion Model (CMI) for the life-expectancy assumptions. Selected explanatory notes are included to explain significant transactions and events, which occurred in the first half-year. The COVID-19-pandemic had no material impact on the significant accounting estimates and as- sumptions. In addition, no impairment loss or government subsidies were recognized as a result of the pandemic situation in the reporting period (previous year COVID-19 related subsidies of CHF 0.6 million). The consolidated financial statements are presented in Swiss francs (CHF), rounded to the nearest thousand. Due to rounding, amounts presented throughout this report may not add up precisely to the totals provided. All ratios and variances were calculated using the underlying amount rather than the presented rounded amount. 1.3 Change in Presentation/Restatement 2020 In line with the consolidated annual financial statements 2020, Belimo adapted the presentation of its interim financial statements. In the consolidated income statement, other operating income and expenses are shown as one line item, with the split presented in the corresponding note. In the consolidated statement of comprehensive income, the group decided to separately disclose the tax effect on currency translation adjustments. In the consolidated statement of cash flows, non-cash items of non-current employee benefits are now reported as separate line item. Furthermore, in the segment reporting, the split of trade receivables to group companies and to third parties is newly shown. During 2021, the Group discovered that certain transactions related to equity had been erroneously recorded in its consolidated financial statements in some years. The errors have been corrected by restating the currency translation adjustment and retained earnings by CHF 1.2 million (i.e. reallo- cating) within the consolidated statement of changes in equity. Belimo Semiannual Report 2021 13

Notes to the Consolidated Financial Statements 1.4 Changes to Accounting Policies The applied accounting policies are the same as those applied in the consolidated annual financial statements 2020. The revised standards applied for the first time in the consolidated interim finan- cial statements had no impact. Changes to the Scope of Consolidation 2 On June 8, 2021, the distribution company BELIMO Belgium BV was founded. In December 2020, the Group acquired all shares of Opera Electronics Inc., a specialist in air quality and gas sensors. The acquisition had no material impact on these consolidated interim financial statements. Segment Reporting 3 Belimo has four reportable operating segments, which performed as follows: Europe Americas Asia Pacific Shared Services Elimi– nation Total in CHF 1 000 1st half 2021 Income statement Net sales – Third parties Other operating income Operating expenses Depreciation and amortization Segment profit Unallocated changes in inventories Unallocated other operating income Unallocated material expenses Unallocated financial result Income before taxes (EBT) 195 392 143 319 46 015 – – 384 727 – – 23 089 – 1 609 – – 19 218 – 2 336 170 694 121 765 – – 9 218 – 965 500 – 97 557 – 11 316 35 832 – 108 373 – 500 7 266 – 141 817 – 16 227 – 7 266 227 183 2 793 940 – 155 301 1 385 77 000 Cash effective investments in property, plant and equipment and intangible assets 602 654 1 922 9 316 – 12 493 Balance sheet as at June 30, 2021 Trade receivables – Third parties Trade receivables – Group companies Property, plant and equipment and intangible assets Unallocated assets Total assets 57 091 45 118 15 682 25 950 – 80 – – – – 26 030 117 891 – 10 863 42 757 10 324 141 381 – 205 325 264 277 587 493 14 Belimo Semiannual Report 2021

Notes to the Consolidated Financial Statements in CHF 1 000 1st half 2020 Income statement Net sales to third parties Other operating income Operating expenses Depreciation and amortization Segment profit Unallocated changes in inventories Unallocated other operating income Unallocated material expenses Unallocated financial result Income before taxes (EBT) Europe Americas Asia Pacific Shared Services Elimi- nation Total 166 026 130 353 39 116 – – 335 495 – – 23 034 – 1 896 – – 19 176 – 2 169 – – 7 974 – 1 044 141 097 109 008 30 098 358 – 86 371 – 10 443 – 96 457 – 358 6 284 – 130 271 – 15 552 – 6 284 190 030 6 026 312 – 140 951 – 5 231 50 186 Cash effective investments in property, plant and equipment and intangible assets 542 650 869 10 020 – 12 082 Balance sheet as at December 31, 2020, restated 1) Trade receivables – Third parties 1) Trade receivables – Group companies 1) Property, plant and equipment and intangible assets Unallocated assets Total assets 1) see note 1.3 34 311 31 412 15 546 26 017 – 89 – – – – 26 106 81 269 – 11 241 42 083 8 521 142 397 – 204 241 297 948 583 458 Belimo Semiannual Report 2021 15

Notes to the Consolidated Financial Statements Sales development compared to the previous year in the market regions was as follows: 1st half 2021 Growth in CHF Growth in local currencies Net Sales % 1) 1st half 2020 Growth in CHF Growth in local currencies Net Sales % 1) Europe Americas Asia Pacific 195 392 143 319 46 015 51% 37% 12% Total 384 727 100% 17.7% 9.9% 17.6% 14.7% 16.6% 166 026 16.8% 130 353 18.8% 39 116 49% 39% 12% 16.9% 335 495 100% – 2.5% – 8.3% – 8.7% – 5.6% 2.3% – 5.1% – 3.5% – 1.4% 1) Contribution to total net sales The net sales by application were as follows: 1st half 2021 Growth in CHF Growth in local currencies Net Sales % 1) 1st half 2020 Growth in CHF Growth in local currencies Net Sales % 1) Air Water Total 213 837 170 890 56% 44% 384 727 100% 14.2% 15.2% 14.7% 16.0% 187 184 18.0% 148 311 56% 44% 16.9% 335 495 100% – 5.0% – 6.2% – 5.6% – 0.8% – 2.1% – 1.4% 1) Contribution to total net sales Overall, movements in exchange rates had an effect of –2.2 percentage points on net sales (com- parison period 2020: –4.2 percentage points). Belimo Semiannual Report 2021 16

Notes to the Consolidated Financial Statements 4 Post-Employment Benefits With the publication of the new generation table, Belimo changed the basic probabilities used within the demographic assumptions to BVG 2020 for the Swiss pension plan (previous year BVG 2015). Life-expectancy assumptions are arrived at through a projection of future mortality im- provements in accordance with the Continuous Mortality Investigation Model CMI (previous year Menthonnex Model). The computations are made with a future long-term mortality improvement rate of 1.25 percent. The following principal actuarial assumptions were applied: Discount rate Interest rate used in projecting retirement benefits Expected salary increases Mortality tables Long-term mortality improvement rate Life expectancy as at age of 65 in years: Active employees (female/male) Pensioners (female/male) June 30, 2021 December 31, 2020 0.35% 1.00% 1.50% BVG 2020 GT–CMI 1.25% 0.10% 1.00% 2.00% BVG 2015 – 24.07/22.13 23.42/21.70 26.58/24.55 24.86/22.83 Reconciliation of the amout recognized in the statement of financial position: in CHF 1 000 Defined benefit obligation Fair value of plan assets Deficit/(Surplus) Adjustment to asset ceiling Net defined benefit liability/(asset) June 30, 2021 December 31, 2020 315 574 345 263 – 29 689 29 689 – 325 220 327 770 – 2 550 – – 2 550 In the reporting period, the return on plan assets of positive CHF 10.8 million, an actuarial gain on the defined benefit obligation of CHF 16.3 million as well as other movements of CHF 0.1 million led to a surplus of CHF 29.7 million. The asset ceiling, being the present value of any economic benefits available in the form of reductions in future contributions to the Swiss pension plan, did not exceed the surplus. Consequently, the surplus was not recognized as non-current asset as at June 30, 2021. Belimo Semiannual Report 2021 17

Notes to the Consolidated Financial Statements The actuarial movements were as follows: in CHF 1 000 Change of the financial assumptions Change of the demographic assumptions Experience adjustments Actuarial (gain)/loss 5 Provisions in CHF 1 000 As at January 1 Increase Utilization Reversals Changes in scope of consolidation Translation differences As at June 30/December 31 of which current provisions of which non-current provisions Warranties Others 4 561 4 306 – 1 393 – 338 – – 7 136 4 600 2 536 833 4 244 – 619 – – 5 4 463 3 444 1 019 1st half 2021 – 7 941 – 13 346 4 977 – 16 310 1st half 2021 5 395 8 550 – 2 012 – 338 – 5 11 600 8 044 3 555 2020 8 444 2 901 8 000 19 345 2020 5 071 3 324 – 2 605 – 412 18 – 1 5 395 4 297 1 098 Provisions for warranties were calculated considering experienced returns in the past as well as current sales developments. They generally cover product and replacement costs for a warranty period of five years. Product liability incidents with property, plant and equipment damages were considered separately on a case by case basis. Other provisions mainly include expected costs for legal litigations and for non-income tax risks. The majority of these provisions are expected to be used over the next two years. 6 Share Capital/Dividend As per the resolution of the Annual General Meeting of BELIMO Holding AG held on March 29, 2021, a dividend of CHF 150.00 per registered share was paid out on April 6, 2021 and a twenty- for-one share split was conducted a day later, on April 7, 2021. After the share split, the number of Belimo Semiannual Report 2021 18

Notes to the Consolidated Financial Statements registered shares amounts to 12.3 million. For comparability reasons, earnings per share for the previous year has been adjusted accordingly. 7 Foreign Exchange Rates The consolidated financial statements are based on the following closing and average exchange rates (rounded) for the main currencies: Closing Rates Average Rates June 30, 2021 December 31, 2020 Change 1st half 2021 1st half 2020 Change 0.75 0.14 1.10 0.24 0.92 0.69 0.13 1.08 0.24 0.88 7.9% 6.3% 1.6% 2.5% 5.0% 0.72 0.14 1.09 0.24 0.90 0.72 0.14 1.07 0.24 0.97 0.4% 0.7% 2.3% – 1.2% – 6.9% in CHF CAD CNY EUR PLN USD 8 Events after the Reporting Date On July 20, 2021, the Board of Directors of BELIMO Holding AG approved the present consolidated interim financial statements for release. As of this date, no material events after the reporting date have occurred. Belimo Semiannual Report 2021 19

This report contains comments relating to future developments which are based on assumptions and estimates of BELIMO Holding AG. Although the company assumes the expectations of these prospective comments to be realistic, they contain risks. These can lead to the actual results being significantly different from the prospective comments. Among the fac- tors which can cause such differences are changes in the economic and business environment, exchange rate and interest rate changes, the introduc- tion of competing products, inadequate acceptance of new products or ser- vices and changes in the business strategy. BELIMO Holding AG neither plans nor commits itself to keep these prospec- tive comments up to date. Credits Concept/Editing: BELIMO Holding AG, Hinwil (Switzerland) Design/Realization: Greuter Stähli Grafik, Zurich (Switzerland) This Semiannual Report 2021 has been published on July 22, 2021, in German and English. The English version is binding.