Dear shareholders,

<p>The year 2025 was characterized by heightened geopolitical tensions, increased economic uncertainty, and the rapid advance of disruptive technologies, particularly artificial intelligence (AI). In such a dynamic environment, it was more important than ever for companies to remain true to their purpose and values. At ABB, we have done just that by making the necessary tactical adjustments, while remaining firmly committed to our strategic course to create value for our stakeholders.<br> <br> Throughout the year, the trading environment proved robust. We saw strong demand for our solutions, especially in sectors such as data centers, marine, ports, utilities and infrastructure such as tunnels and airports. This shows that we are well-positioned at the center of key megatrends, such as the expansion of the energy system due to the growing demand for electricity as well as energy security and the energy transition.</p> <p>&nbsp;</p> <h3>Record year for orders and profits</h3> <p>Strong market demand for our solutions helped us achieve a record year for orders and revenues. We also increased profits despite challenges like tariffs and higher materials prices. This shows we are continuing to improve efficiency under our decentralized ABB Way operating model with its focus on accountability, transparency, and speed. In recognition of this excellent performance, and in line with our policy of delivering a rising and sustainable dividend over time, the Board of Directors will propose a dividend of CHF 0.94 per share at the upcoming Annual General Meeting.<br> <br> We continued to make strong progress towards our sustainability targets, and have already almost reached our 2030 target of an 80 percent reduction in our scope 1 and 2 emissions. I want to stress that ABB remains fully committed to our Sustainability Agenda. We will continue to support our customers in improving their performance while making their operations more productive, efficient, and sustainable. We will also fulfill our own sustainability targets and strategy in line with our purpose of enabling a more sustainable and resource-efficient future.</p> <p>&nbsp;</p> <h3>A broad-based Board of Directors</h3> <p>In 2025, our Board of Directors continued to evolve. We have a wide diversity of industry knowledge, skills and experience as well as a more equal gender balance on the Board. 40 percent of our Board members are women – above the 30 percent stipulated by the Swiss Code of Obligations. Our Board has a very good mix of broad general experience as well as in-depth expertise. Certain members serve in executive positions outside of ABB while others sit on further boards of directors, all contributing diverse perspectives and valuable experience.<br> <br> This diversity of perspectives is important because the Board not only supervises the company, but is also responsible for ensuring that ABB is strategically positioned to achieve our long-term targets. This requires greater consideration of geopolitical aspects and overall risk management than ever given the fast-changing and uncertain environment in which we are operating. We cannot and should not manage ABB in terms of “legislative periods” or “election cycles,” but must be oriented toward the long term.<br> <br> In 2025, we welcomed Claudia Nemat to our Board of Directors. As a former member of the management board of Deutsche Telekom, responsible for technology and innovation, and with previous board experience at Lanxess and Airbus, Claudia perfectly complements the competencies of our Board.</p> <p>&nbsp;</p> <h3>Confidence in ABB’s prospects</h3> <p>Our confidence in ABB’s prospects is reflected in the updated margin and return ambitions announced at our Capital Markets Day in November 2025. Our “local-for-local” strategy of designing and producing close to our customers makes us resilient and self-sufficient in our main markets.<br> <br> We continue to actively manage our portfolio to ensure that our divisions are aligned with our purpose, that they serve markets which are growing and profitable, and that they create more value by being part of ABB than they would under different ownership.<br> <br> In 2025, we decided to accept an offer from SoftBank Group to acquire our Robotics division rather than pursuing our original intention to spin off the division. Our decision took into account the long-term strengths of the division, the advantages of Robotics being part of a leading AI and software company, and the fact that the divestment will create immediate value for ABB shareholders. We will use the proceeds from the transaction in line with ABB’s established capital allocation principles.<br> <br> With the planned divestment of Robotics, we now have three business areas – Electrification, Motion and Automation (formerly Process Automation) – with strong shared sales and technology synergies that position ABB for higher growth and stronger earnings.</p> <p>On behalf of the Board of Directors, I would like to thank our employees for delivering such an excellent performance in 2025. I would also like to express gratitude to our customers, partners, and our valued shareholders for your continued trust and support. We are excited about the future and look forward to continuing this journey together with you.</p> <p>&nbsp;</p> <p>Best regards,</p> <h3>PETER VOSER<br> Chairman of the Board of Directors</h3>