Vitesco Technologies Group AG

Investor Presentation • Nov 14, 2022

VITESCO TECHNOLOGIES

Q3 2022 RESULTS

Regensburg, November 14, 2022

Public

DISCLAIMER

This presentation may contain forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of Vitesco Technologies Group AG. These forward-looking statements can be recognized by terms such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words with similar meaning. Vitesco Technologies Group AG has made such forward-looking statements on the basis of the information available to it and assumptions it believes to be reasonable. The forward-looking statements and information may involve risks and uncertainties, and actual results may differ materially from those forecasts. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this presentation. Vitesco Technologies Group AG does not assume any obligation to update such forward-looking statements and to adapt them to future events or developments.

This presentation includes certain financial measures such as EBIT, adjusted EBIT, adjusted EBITDA, order intake or net debt, which are not defined by International Financial Reporting Standards (IFRS). These alternative performance measures should be considered in addition, but not as a substitute for the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or other generally accepted accounting principles. Other companies that report similarly titled alternative performance measures may calculate them differently. An explanation of the alternative performance measures can be found in the annual report of Vitesco Technologies Group AG. Rounding differences may occur.

This presentation is for information purposes only. It is not intended to constitute investment advice or an offer to sell, or a solicitation to buy, any securities.

AGENDA OF THE CONFERENCE CALL ON THE Q3 2022 RESULTS

• | HIGHLIGHTS FOR Q3 2022
• | KEY FIGURES Andreas Wolf
• | MARKET DEVELOPMENT
• | SALES AND ADJUSTED EBIT DEVELOPMENT
• | CASH FLOW PROFILE
• | LIQUIDITY PROFILE Werner Volz
• | BALANCE SHEET STRUCTURE
• | OUTLOOK FOR FY 2022

WE CONTINUED OUR STRONG ELECTRIFICATION ORDER INTAKE MOMENTUM ALSO IN Q3 2022

2,300 € million sales in Q3 2022 – driven by stable demand and increases in worldwide light vehicle production

²³⁰ 3.2

€ million total electrification sales during Q3 2022

We received €600 mn order intake in electrification from a global German OEM for our battery management system

400V and 800V BEV architecture

adjusted EBIT – still highly influenced by increased input costs

€ million free cash flow – driven by increasing net working capital

€ billion electrification order intake during Q3 2022; total order intake at 4.3 € billion

WE SIGNIFICANTLY INCREASED OUR SALES DUE TO GRADUAL IMPROVEMENTS IN SEMICONDUCTOR AVAILABILITY

Vitesco Technologies Group (€ mn)

	Q3 2021	Q3 2022	Delta
Sales	1,913.8	2,300.1	386.3
% growth	-	+20.2%
Adj. EBIT	24.5	47.9	23.4
% margin	1.3%	2.1%	0.8pp
EBIT	-51.9	2.4	54.3
% margin	-2.7%	0.1%	2.8pp
Capex1	118.2	88.9	-29.3
% of sales	6.2%	3.9%	-2.3pp
Free Cash Flow	-213.2	-16.3	196.9
% margin	-11.1%	-0.7%	10.4pp
Equity Ratio	37.1%	40.7%	3.6pp

HIGHLIGHTS AND RECENT DEVELOPMENTS

Sales

• Impact from FX: +7.4%
• €230 mn electrification sales

Adjusted EBIT

Profitability step-up from higher sales volume still burdened by higher input costs

Capex

Capex below prior year's level due to cautious spending behavior amid market uncertainties

Free Cash Flow

Q3 2022 cash outflow mainly driven by seasonal increases in working capital and inventory build-up

DESPITE OUR STRONG SALES MOMENTUM, BASE EFFECTS IN THE PAST YEAR LED TO UNDERPERFORMANCE IN Q3 2022

0

5

10

15

20

25

30

Light vehicle production¹(mn units) Year-on-year growth rates (in %)

6

	Q3 Production	Q3 ∆ YoY
Europe	3.5	20.8%
North America	3.7	23.8%
China	7.3	31.4%
Rest of World	6.7	29.2%
Worldwide	21.2	27.5%

• Strong recovery of global light vehicle production after significant drop due to semiconductor shortage in prior year
• VT sales in Q3 2021 with delayed effect from semiconductor shortage – the respective base effects contribute to underperformance on group and core levels

HIGHLIGHTS AND COMMENTS HIGHLIGHTS AND COMMENTS

• Core technologies development mainly driven by sales recovery in Electronic Controls BU
• Strong growth in Germany and North America was offset by lower growth rates in Asia and Europe w/o Germany

WE SIGNIFICANTLY IMPROVED OUR PROFITABILITY ON THE BACK OF A STRONG CORE TECHNOLOGIES PERFORMANCE

7

business unit of 5.5%

SALES MOMENTUM IN ELECTRIFICATION TECHNOLOGY BU STILL IMPACTED BY GLOBAL SEMICONDUCTOR SHORTAGE

RECOVERY OF ELECTRONIC CONTROLS BU DRIVEN BY CORE TECHNOLOGIES PERFORMANCE

9

mn) and 8.1% adj. EBIT margin (PY: 4.3%)

SENSING & ACTUATION BU CONTINUES TO DELIVER RESILIENT SALES AND PROFITABILITY

CONTRACT MANUFACTURING BU MARGIN DECLINED AS ANTICIPATED DUE TO BILATERAL PRODUCTIVITY

Continental

INCREASING NET WORKING CAPITAL INTENSITY LED TO SLIGHTLY NEGATIVE FREE CASH FLOW IN Q3 2022

VAT: Value added tax. NWC: Net working capital. Free cash flow defined as operating cash flow plus investing cash flow.

CONTINUOUS COMFORTABLE LIQUIDITY SITUATION DUE TO AVAILABLE CASH POSITION AND UNDRAWN RCF

EQUITY RATIO AND NET DEBT DEMONSTRATE OUR STRONG AND SOLID BALANCE SHEET

Comprehensive Income from pension revaluation

• Increase in accounts receivable due to seasonally strong sales in September
• LTM: Last twelve months. Adj. EBITDA before consolidation and special effects.

WE UPDATE AND FURTHER SPECIFY OUR GROUP GUIDANCE AS WELL AS OUR MARKET OUTLOOK FOR FY 2022

2021 2022E Sales 8,348 9,000 to 9,200 Prev: 8,600 to 9,100 Adj. EBIT Margin 1.8% 2.3% to 2.5% Prev: 2.2% to 2.7% Special Effects ¹⁰⁹ 50 to 100 Prev: 100 to 150 Capex¹ Ratio 5.3% around 5% Prev: around 6% Free Cash Flow ¹¹³ >75 Prev: > 50 Vitesco Technologies Group (€ mn)

Light Vehicle Production Forecast for changes of FY 2022 production compared to FY 2021. Adj. EBIT before amortization of intangibles from PPA, consolidation and special effects. Free cash flow defined as operating cash flow plus investing cash flow. ¹ Capex excluding right of use assets (IFRS 16).

Q&A

HOW TO REACH OUR INVESTOR RELATIONS TEAM

Heiko Eber - Head of Investor Relations Phone: +49 941 2031-72348 Email: heiko.eber@vitesco.com

Jens von Seckendorff - Senior Investor Relations Manager Phone: +49 941 2031-6381 Email: jens.von.seckendorff@vitesco.com

Max Westmeyer - Senior Investor Relations Manager Phone: +49 941 2031-8823 Email: max.westmeyer@vitesco.com

Gagan Sehgal - Investor Relations Manager Phone: +49 941 2031-3099 Email: garish.gagan.sehgal@vitesco.com

UPCOMING EVENTS

FINANCIAL CALENDAR

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Quarterly Statement Q3 2022 November 14, 2022

	িন্তু

Preliminary FY 2022 Results February 2023

ਿੰਗ ਵਿੱਚ ਹੋ ਗੁ

Annual Report FY 2022 March 2023

i

Quarterly Statement Q1 2023 May 2023

	T
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Annual General Meeting 2023 May 2023

Corporate events Roadshows and conferences

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

BNP Paribas MidCap CEO Conference (Paris) November 16, 2022

ਿੰਗ ਵਿੱਚ ਹੋ ਗ

DZ Bank Equity Conference (Frankfurt) November 23, 2022

• Roadshow Scandinavia November 29/30, 2022
• Goldman Sachs Autos Conference (London) December 9, 2022

Roadshow BeNeLux December 13/14, 2022

THANK YOU