UBSI Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	6.19B EUR	6.28B EUR	5.73B EUR	5.37B EUR
Enterprise Value	4.93B EUR	4.83B EUR	4.06B EUR	3.46B EUR
Valuation Multiples
Trailing P/E	12.39x	12.18x	11.37x	14.12x
Forward P/E	11.76x	--	--	--
Price to Sales	4.95x	4.9x	4.54x	5.68x
Price to Book	1.13x	1.14x	1.04x	0.98x
EV/Revenue	3.94x	3.77x	3.21x	3.65x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	11.75x	11x	14.71x
EV/FCF	--	9.04x	7.78x	9.47x
FCF Yield	--	8.51%	9.09%	6.8%