Vitesco Technologies Group AG

Investor Presentation • Mar 25, 2021

BUILDING AN ELECTRIFICATION POWERHOUSE CAPITAL MARKET DAY

Virtual Meeting, March 25, 2021 Vitesco Technologies

Public

DISCLAIMER

The presentation contains forward-looking statements and information on the business development of Continental AG's subsidiary group, Vitesco Technologies. These statements and information may be spoken or written and can be recognized by terms such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words w ith similar meaning. These statements and information are based on assumptions relating to the companies' business and operations and the development of the economies in the countries in which the company is active. Vitesco Technol ogies 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. If any of these or other risks or uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly d iffer from those expressed or implied by such forward looking statements and information. These forward-looking statements take into account the potential impact of the coronavirus on production volumes, as can be determined to date. The forward-looking statements do not include possible further disruptions to production and the supply chain as well as demand as a result of the continuing spread of the coronavirus or a resulting negative impact on economic fundamental s and consumer confidence. Such disruptions, their impact and/or the impact of a further economic downturn cannot be gauged at the current time. Neither Continental AG, nor Vitesco Technologies will update the following presentation , particularly not the forward-looking statements. The presentation is valid on the date of publication only.

The financial information and financial data included in this presentation are prepared in accordance with IFRS. It is anticipated that, following its spin-off from Continental AG, Vitesco Technologies will report its financial results using four segments, comprised of Electrification Technology, Electronic Controls, Sensing & Actuation and Contract Manufacturing. Past events or performance should not be taken as a guarantee or indication of future events or performance. This presentation contains certain supplemental financial or operative measures that are not calculated in accordance with IFRS or German GAAP (HGB) and are therefore considered as non-IFRS measures. Vitesco Technologies believes that such non-IFRS measures used, when considered in conjunction with (but not in lieu of) other measures that are computed in accord ance with IFRS, enhance the understanding of its business, results of operations, financial position or cash flows. There are, however, material limitations associated with the use of non-IFRS measures including (without limitation) the limitations inherent in the determination of relevant adjustments. The non-IFRS measures used by Vitesco Technologies may differ from, and not be comparable to, similarly-titled measures used by other companies, including Continental AG. Rounding differences may occur.

The term "vehicles" as used in this presentation refers to "light vehicles <6 metric tons", unless stated otherwise.

To the extent available and if so denoted, the industry and market data contained in this presentation has been derived from official or third-party sources. All information not separately sourced is derived from Vitesco Technologies' data and estimates, some of which are in turn derived from multiple sources such as internal surveys, customer feedback as well as a commissioned study from Roland Berger, "Powertrain Market" Study, 12/2020 and other third-party sources, including data from IHS Markit or market experts. The IHS Markit reports, data and information referenced herein (the "IHS Ma rkit Materials") are the copyrighted property of IHS Markit Ltd. and its subsidiaries ("IHS Markit") and represent data, research, opinions or viewpoints published by IHS Markit, and are not representations of fact. The IHS Markit Materials speak as of the original publication date thereof and not as of the date of this document. The information and opinions expressed in the IHS Markit Materials are subject to change without notice and IHS Markit has no duty or responsibil ity to update the IHS Markit Materials. Moreover, while the IHS Markit Materials reproduced herein are from sources considered reliable, the accuracy and completeness thereof are not warranted, nor are the opinions and analyses which are based upon it. IHS Markit is a trademark of IHS Markit. Other trademarks appearing in the IHS Markit Materials are the property of IHS Markit or their respective owners. Third party industry publications, studies and surveys g enerally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee, representation or warranty (either expressly or implied) of the accuracy or completeness of such data or cha nges to such data following publication thereof. While Continental AG and Vitesco Technologies believe that each of these publications, studies and surveys has been prepared by a reputable source, neither company has independently verified the data contained therein. In addition, certain of the industry and market data contained in this presentation are derived from Vitesco Technologies internal research and estimates based on the knowledge and experience of its management in the markets in which it operates. Continental AG and Vitesco Technologies believe that such research and estimates are reasonable and reliable, but their underlying methodology and assumptions have not been verified by any ind ependent source for accuracy or completeness and are subject to change without notice. Market data from third party sources speak as of their dates and may therefore not take into account the impact of disruptions to production a nd the supply chain as well as demand as a result of the continuing spread of the coronavirus or a resulting negative impact on economic fundamentals and consumer confidence. Beside the already experienced volatility in the automotive markets, such disruptions and their impact as well as the impact of a further economic downturn on cannot be gauged at the current time. Accordingly, undue reliance should not be placed on any of the industry or market data contain ed in this presentation.

This presentation has been prepared for information purposes only. It does not constitute or form part of any offer or invita tion to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Continental AG, Vitesco Technologies Group Aktiengesellschaft or any company of Continental Corporation, including Vitesco Technologies, in any jurisdiction. Neither this presentation, no r any part of it, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contractual commitment or investment decision in relation to the securities of Co ntinental AG, Vitesco Technologies Group Aktiengesellschaft or any company of Continental Corporation, including Vitesco Technologies, in any jurisdiction, nor does it constitute a recommendation regarding any such securities.

This document does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan, or the United States of America or in any jurisdiction to whom or in which such offer or solicitation is unlawful. Any securities referred to herein may not be offered or sold in the United States abs ent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, any secu rities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of any securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of securities in the United States of America.

AGENDA

TOPIC	PRESENTER	TIME (CET)
1 INTRODUCTION	H. EBER	01:00 PM
2 BUILDING AN ELECTRIFICATION POWERHOUSE	A. WOLF	01:05 PM
Q&A - CEO		01:35 PM
3 LEVERAGING OUR DNA TO SHAPE E-MOBILITY	W. BREUER, T. STIERLE, K. HAU	01:50 PM
SHORT BREAK		02:20 PM
4 TRANSFORMING INTO THE FUTURE	A. WOLF	02:30 PM
5 FINANCING OUR GROWTH	W. VOLZ	02:45 PM
Q&A - ALL		03:15 PM
6 CONCLUSION	A. WOLF	03:45 PM

BUILDING AN ELECTRIFICATION POWERHOUSE

CAPITAL MARKET DAY 2 – BUILDING AN ELECTRIFICATION POWERHOUSE

Virtual Meeting, March 25, 2021 Vitesco Technologies

Public

THE FUTURE IS ELECTRIC. AND IT HAS ALREADY STARTED.

20% OF VEHICLES SOLD IN CHINA SHALL BE NEW ENERGY VEHICLES BY 2025.

Source: Ministry of Industry and Information Technology of People's Republic of China, "Development Plan for the New Energy Vehicles Industry", 12/2020.

6

>320 LOW EMISSION ZONES ARE EXPECTED IN EUROPE BY 2025.

Source: Roland Berger, "Powertrain Market" Study, 12/2020. Notes: Only including already announced future LEZ (covering also "Zero Emission Zones"), LEZ defined as area where access for vehicles is restricted or deterred to improve air quality.

>\$300 BN INVESTMENT BY OEMS IN ELECTRIC MOBILITY BY 2030.

Source: Boston Consulting Group, "Who will drive electric cars to the tipping point?", 01/2020. Group, electric cars to the tipping

THE ELECTRIC FUTURE HAS ALREADY STARTED

Source: ¹ Roland Berger, "Powertrain Market" Study, 12/2020. Notes: Electrification share represents expected outlook on propulsion shares in global light vehicle production by units.

INCREASING AVAILABILITY OF MODELS MEETS A STRONGLY GROWING DEMAND

By 2025, available BEV and PHEV models will be slightly above par with ICE models.

Source: ¹Expected number of produced models in region Europe incl. UK based on IHS Markit Alternative Propulsion Forecast as of 02/2021. ²Vehicle registrations in EU+UK+EFTA based on ACEA New Passenger Car Registrations by Fuel Type as of 02/2020, 02/2021. Notes: Available models indicated by global nameplate. PV: Passenger Vehicle. BEV: Battery Electric Vehicle. PHEV: Plug-In Hybrid Electric Vehicle. ICE: Internal Combustion Engine (incl. Stop/Start and Micro Hybrids <48 V).

ELECTRIFICATION OFFERING INCREASINGLY MATCHES CONSUMER EXPECTATIONS

Sources/Notes: BEV: Battery Electric Vehicle. ICE: Internal Combustion Engine. ¹352km represents average range of BEV based on expert analysis in 2020, >50% of current BEV with range of 200-400km and >25% with range of >400km; Autobild, "E-Autos und deren Reichweite: Reichweitenangst, aufladen, liegenbleiben", 01/2021. ² Audi e-tron 55 quattro (illustrative example) has an average range of ~365km and completes charging process (~80-100% state of charge using a 150kW charging infrastructure) in 20-30 minutes; ADAC, "Elektroautos auf der Langstrecke: Wie kann das funktionieren?", 02/2020; ADAC, "Audi e-tron quattro: So gut ist der Elektro-SUV", 01/2021. ³Price for gasoline vehicle: Golf VIII 1.5 eTSI (110kW) (illustrative example, incl. 16% VAT) vs. price for BEV: e-Golf VII (100kW) (comparable electrified illustrative example, incl. 16% VAT), as of 07/2020 and prior to any subsidies. ⁴ ADAC, "Kostenvergleich Elektro, Benzin oder Diesel: Lohnt es sich umzusteigen?", 07/2020. ⁵ Total cost of ownership for Golf VIII 1.5 eTSI (110kW) (illustrative example) vs. e-Golf VII (100kW) (comparable electrified illustrative example), based on purchase price, average costs for repair, gasoline/electricity and tax as of 07/2020 and assuming ownership period of 5 years, 15,000km annual mileage.

11

EVERYBODY IS TALKING ABOUT ELECTRIFICATION. WE ARE MAKING IT HAPPEN.

OUR PORTFOLIO OFFERS SUPERIOR CONTENT PER VEHICLE OPPORTUNITIES IN ANY FUTURE SCENARIO

Source: ¹ Company estimate based on expert studies prepared in cooperation with Vitesco Technologies. Reflects the CPV opportunity for the portfolio offering in 2018. ² Roland Berger, "Powertrain Market" Study, 12/2020. Reflects the CPV opportunity for the current portfolio offering. Notes: ICE: Internal Combustion Engine. CPV: Content Per Vehicle.

WE HAVE LEADING SOLUTIONS FOR KEY ELECTRIFICATION ARCHITECTURES

Electrification key offering:

System supplier offering full range from battery management to drive

Integrated axle drive and components from battery management to charging and power electronics

Source: Company information. Notes: CO² savings relate to "tank to wheel" potential vs. pure combustion vehicle based on WLTP (World Harmonized Light-Duty Vehicles Test Procedure).

WE ARE THE FIRST SUPPLIER TO FULLY EMBRACE THE TRANSITION TOWARDS ELECTRIC MOBILITY

Source: Company information. Notes: "First" meaning first mass-market application and OEM independent supplier. BEV: Battery Electric Vehicle. ¹ Cumulative vehicles equipped since 2006.

OUR POWERTRAIN SOLUTIONS PROPEL OUR CUSTOMERS INTO THE ELECTRIFIED FUTURE

EXAMPLES:

Source: Company information. Notes: Depicted products represent product groups and do not represent individual customer variants of the product.

WE ARE PRESENT ON GLOBALLY LEADING PLATFORMS

Source: Company information. ¹ IHS Markit, Alternative Propulsion Forecast, 10/2020. Notes: Presence subject to OEM sourcing strategy (single or multiple sources) and vehicle configuration (e.g., motor variant).

WE ARE A YOUNG COMPANY.

WITH A STRONG UNDERLYING BUSINESS BASE.

OUR GROWTH IN ELECTRIFICATION IS FUNDED BY OUR STRONG UNDERLYING BUSINESS

UNDERLYING BUSINESS¹ ELECTRIFICATION TECHNOLOGY BUSINESS UNIT NEW ELECTRIFICATION PRODUCTS Electrified part of underlying business INCREASING ELECTRIFICATION SHARE Profitable core technologies of Electronic Controls and Sensing & Actuation business units Leading the transition towards electric mobility

VT core technologies sales 2020

VT core technologies sales mid-term target

Source: Company information. Notes: ¹Excluding non-core ICE technologies and Contract Manufacturing.

PROFITABLE UNDERLYING BUSINESS AND STRONG ORDER BACKLOG IN ELECTRIFICATION TECHNOLOGY

Source: Company information. Notes: BU: Business Unit. Sales, order backlog and adj. EBIT margin excluding non-core ICE technologies and Contract Manufacturing as per end of FY2020. Adj. EBIT margin before consolidation, amortization of intangibles from PPA and special effects. Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020.

SOME COMPANIES HAVE PARTS. WE HAVE ENTIRE SOLUTIONS.

WE UNDERSTAND ENTIRE SYSTEMS AND USE OUR KNOWLEDGE AS A PARTNER TO OUR CUSTOMERS

System and architecture understanding

Focus on electronics, mechatronics and differentiating technologies

Relevant to OEMs whether they look for entire systems or single components

Source: Company information.

OUR ELECTRIFICATION CONTENT IS SUBSTANTIAL AND GROWING ACROSS ALL BUSINESS UNITS

Source: Company information. Notes: Example of a Battery Electric Vehicle. Products are selected examples and do not reflect the entire offering.

WE DON'T JUST TALK ABOUT TRANSFORMATION. WE ARE THE TRANSFORMATION.

WE HAVE A CLEAR VIEW OF THE FUTURE AND A RESOLUTE PLAN OF HOW TO GET THERE

PHASE OUT OF NON-CORE ACTIVITIES

• Contract Manufacturing with Continental¹

• Priority setting on company level

• Non-core ICE technologies² Electrification across all business units

Contract Manufacturing & non-core ICE technologies sales

2020 mid-term long-term

target

target

target

Footprint rationalization and operational excellence

Sustainability at the core of what we do

Digitalization

best-cost production share carbon neutral³ scope 1 & 2

Source: Company information. Notes: ICE: Internal Combustion Engine. Phase-out timeline may vary depending on strategic decisions and customer demand. ¹ Substantial majority of CM phase-out planned to be completed by 2025. ² Around 1/3 of non-core ICE technologies phase-out planned to be completed mid-term. ³ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

target

OUR NEW MANAGEMENT TEAM HAS PROVEN VISION, DETERMINATION AND FAST EXECUTION

WE ARE WELL POSITIONED TO OUTGROW GLOBAL LIGHT VEHICLE PRODUCTION

HISTORIC OUTPERFORMANCE CLEAR ELECTRIFICATION STRATEGY AND STRONG CORE

Source: ¹ Company information. ² IHS Markit, Alternative Propulsion Forecast, 10/2020. Notes: ³Sales include non-light vehicle applications like commercial vehicles and two-wheelers. ⁴ Excluding non-core ICE technologies and Contract Manufacturing.

SUSTAINABILITY IS AT THE CORE OF OUR MISSION

POWERING CLEAN MOBILITY

We changed our business model in order to promote electrification solutions to reduce emissions of vehicles.

Example: Electrification share in order intake

SUSTAINABLE VALUE CHAIN

We strive to make our business sustainable all the way – along the whole value chain.

Example: CO² emissions (scope 1 & 2)

Source: Company information. Notes: Order intake as per end of FY2020. Notes: Order intake defined as sum of acquired lifetime sales within the respective fiscal year. ¹ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

WE HAVE DEFINED CONCRETE TARGETS TO DRIVE ESG ALONG THE VALUE CHAIN

Source: Company information. Notes: ¹ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development. ²Includes thermal recovery. ³The employee net promoter score measures the willingness to recommend a company as an employer to others on a scale from 0 to 10. The index ranges from -100 to 100.

VITESCO TECHNOLOGIES – BUILDING AN ELECTRIFICATION POWERHOUSE

Customer demand for Electric Vehicles is gaining momentum

First supplier to fully embrace the transition towards electric mobility

Profitable underlying business and strong order backlog in electrification across all business units

Driving sustainability is at the core of Vitesco Technologies' mission to power clean mobility

The future of mobility will be electrified ~60% of new light vehicles worldwide will be electrified by 2030¹

New BEV and PHEV registrations up by 144% in Europe 2020 vs. 2019²

Early entrant investing in electrification since 2006

Core technologies order backlog of €41 bn, >€13 bn electrification backlog across all business units

100% carbon neutral scope 1&2 target by 2030³

30 Source: Company information. ¹ Roland Berger, "Powertrain Market Industry Study", 12/2020; electrification share represents expected shares of 48 V-Mild Hybrid, Full-Hybrid, Plug-In-Hybrids and Battery Electric Vehicles in global light vehicle production by units. ²Vehicle registrations in EU+UK+EFTA based on ACEA New Passenger Car Registrations by Fuel Type as of 02/2020, 02/2021. Notes: BEV: Battery Electric Vehicle. PHEV: Plug-in Hybrid Vehicle. Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020. ³ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

BUILDING AN ELECTRIFICATION POWERHOUSE

CAPITAL MARKET DAY 3 – LEVERAGING OUR DNA TO SHAPE E-MOBILITY

Virtual Meeting, March 25, 2021 Vitesco Technologies

Public

WE POWER AHEAD IN ELECTRIFICATION

ELECTRIFICATION TECHNOLOGY

Electrification pioneer with >10 years of experience

Integrated electronic and software architectures

Smart solutions for precise measurement and control

ELECTRIFICATION POWERHOUSE

>€13 bn electrification order backlog across all business units¹

Strong electrification momentum Leading transition to e-mobility

>5x electrification sales increase targeted mid-term²

Future-proof skillset

~7,100 engineers, thereof ~5,300 electronics, software and systems³

Source: Company information. Notes: ¹Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020. ²Refers to core technologies sales across all business units with 2020 as base year. ³ Number of engineers as per end of FY2020.

OUR DNA PROPELS US INTO THE ELECTRIFIED FUTURE

Source: Company information.

ELECTRIFICATION REQUIRES MULTIPLE ARCHITECTURES

Source: ¹ Roland Berger, "Powertrain Market" Study, 12/2020; ² company information. Notes: Electrification share represents expected outlook on propulsion shares in global light vehicle production by units. Power (in kW) corresponds to typical peak electric drive power of the indicated propulsion types.

GLOBAL PARTNER FOR KEY ELECTRIFICATION ARCHITECTURES

	48 V MILD HYBRID	PLUG-IN HYBRID	BATTERY ELECTRIC VEHICLE
Extensive expertise in software development across all products
MASTER CONTROLLER
DC/AC INVERTER
DC/DC CONVERTER
BATTERY MANAGEMENT SYSTEM
ELECTRIC MACHINE		Not strategic focus
BATTERY PACK		Not strategic focus	Not strategic focus
ON-BOARD CHARGER	Not applicable
THERMAL MANAGEMENT

Included in Vitesco Technologies portfolio

Source: Company information. Notes: Electric machines for (P)HEV are mostly transmission-integrated solutions dedicated to (P)HEVs. Due to their limited scalability to BEVs they are out of Vitesco Technologies' strategic focus. High Voltage Battery Packs mostly assembled in-house by OEMs. AC: Alternating Current. DC: Direct Current.

ELECTRIFICATION TECHNOLOGY ELECTRONIC CONTROLS SENSING & ACTUATION

ELECTRIFICATION PIONEER WITH >10 YEARS OF EXPERIENCE

SETTING TECHNICAL BENCHMARKS

HIGH VOLTAGE INVERTER (3 48 V DRIVE (1 rd Generation) st Generation)

Highest maximum power¹ for efficient CO²

reduction 13 kW Highest volumetric power density² for easy integration 15 kW/liter

Source: Company information. Notes: Company estimates of benchmarking based on market research, relates to mass production competitors for 2015-2020. ¹For motor mode. Metric relates to electric power and performance of powertrain. ² Refers to volumetric power density in the 90-150 kW power class.

BEST IN CLASS ELECTRIC AXLE DRIVE SOLUTION

Source: Company information. Notes: Available models indicated by nameplates. ¹ Company estimates based on market research, relates to mass production competitors for 2015-2020.

ELECTRIFICATION TECHNOLOGY BUSINESS UNIT GAINS SCALE AND INCREASES PROFITABILITY

Source: Company information. Notes: All data refers to FY2020 unless stated otherwise. Order backlog defined as sum of cumulative order intake not yet booked as sales. ¹ Relates to change vs. prior financial year.

INTEGRATED ELECTRONIC AND SOFTWARE ARCHITECTURES

WE HAVE APPLIED OUR COMPETENCIES TO EXPAND THE PORTFOLIO FROM ICE TO ELECTRIFICATION SOLUTIONS

Source: Company information. ¹Roland Berger, "Powertrain Market Industry Study", 12/2020; electrification share represents expected shares of 48 V-Mild Hybrid, Full-Hybrid, Plug-In-Hybrids and Battery Electric Vehicles in global light vehicle production by units. Notes: Illustration displays selected products; Hybrid includes Plug-In Hybrids, Full Hybrids, and 48 V Mild Hybrid. BEV: Battery Electric Vehicle. ICE: Internal Combustion Engine.

WE CREATE A VARIETY OF CUSTOMIZED SOLUTIONS FROM MODULAR BUILDING BLOCKS

Source: Company information. ¹ Market positions based on Roland Berger "Powertrain Market" Study, 12/2020. Notes: ASIC: Application-Specific Integrated Circuit. ² Top 10 light vehicle OEMs based on number of control units supplied.

WE HAVE SUCCESSFULLY APPLIED OUR SYSTEM INTEGRATION DNA TO NEW HIGH VOLTAGE SOLUTIONS

Source: Company information. ¹ Roland Berger, "Powertrain Market" Study, 12/2020; Notes: Order intake defined as sum of acquired lifetime sales within the respective fiscal year.

SMART SOLUTIONS FOR PRECISE MEASUREMENT AND CONTROL

OUR HOLISTIC SENSING AND ACTUATION PORTFOLIO COVERS ALL POWERTRAIN SYSTEMS

STRONG COMPONENTS BUSINESS BASED ON BROAD SYSTEM COMPETENCE SCALE OF OPERATIONS

Source: Company information. Notes: ¹Number of units delivered externally in FY2020. ²Number of final customer groups in FY2020. ³ Based on company estimate of market positions. As per end of FY2020 based on core technologies in business unit Sensing & Actuation.

WE CONTINUOUSLY RE-DEPLOY OUR TECHNOLOGIES TO NEW APPLICATIONS

Source: Company information. Notes: Products on the timeline are sorted by implementation year of their start of production.

SMART THERMAL MANAGEMENT SOLUTIONS DRIVE OUR GROWTH IN ELECTRIFICATION

Source: Company information. ¹ Roland Berger, "Powertrain Market" Study, 12/2020. Notes: BEV: Battery Electric Vehicle. CPV: Content Per Vehicle Opportunity. ICE: Internal Combustion Engine. Order intake defined as sum of acquired lifetime sales within the respective fiscal year.

WE TEAM UP AND COMBINE OUR EXPERTISE TO CREATE VALUE FOR OUR CUSTOMERS

Source: Company information. Notes: Example of a Battery Electric Vehicle. Products are selected examples and do not reflect the entire offering.

VITESCO TECHNOLOGIES – BUILDING AN ELECTRIFICATION POWERHOUSE

Powering ahead in electrification across all business units >5x electrification sales

Electronics champion propelled by software and system expertise

Global leading position with outstanding technology and R&D platforms

Global partner for key electrification architectures

Combined expertise across business units to create solutions with clear value-added

increase targeted mid-term¹

~5,300 engineers dedicated to electronics, system & software²

>80% of EC and S&A core technologies are top 1 and 2³

>€13 bn electrification order backlog across all business units

Unified engineering organization for electrification⁴

Source: Company information. Notes: Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020. ¹Refers to core technologies sales across all business units with 2020 as base year. ² FY2020 engineering headcount across all business units. ³80% of core technologies sales of Electronic Controls and Sensing & Actuation business units as per YE2020 correspond to top 1 and 2 products. company estimate of market positions based on own research and management's assessment of expert studies including Roland Berger, "Powertrain Market" Study, 12/2020. ⁴Relates to business units

BUILDING AN ELECTRIFICATION POWERHOUSE

CAPITAL MARKET DAY 4 – TRANSFORMING INTO THE FUTURE

Virtual Meeting, March 25, 2021 Vitesco Technologies

Public

WE DON'T JUST TALK ABOUT TRANSFORMATION. WE ARE THE TRANSFORMATION.

WE HAVE A CLEAR VIEW OF THE FUTURE AND A RESOLUTE PLAN OF HOW TO GET THERE

VT core

PHASE OUT OF NON-CORE ACTIVITIES

• Contract Manufacturing with Continental¹

• Priority setting on company level

• Non-core ICE technologies² Electrification across all business units

Contract Manufacturing & non-core ICE technologies sales

2020 mid-term target long-term target

target

Footprint rationalization and operational excellence

Sustainability at the core of what we do

Digitalization

best-cost production share carbon neutral³ scope 1 & 2

Source: Company information. Notes: ICE: Internal Combustion Engine. Phase-out timeline may vary depending on strategic decisions and customer demand. ¹ Substantial majority of contract manufacturing phase-out planned to be completed by 2025. ² Around 1/3 of non-core ICE technologies phase-out planned to be completed mid-term; ³ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

target

PHASE OUT OF NON-CORE ACTIVITIES SCALE-UP OF ELECTRIFICATION COMPETITIVENESS AND SUSTAINABILITY

AND A RESOLUTE PLAN OF HOW TO GET THERE. A CLEAR VIEW ON THE FUTURE.

OUR PROACTIVE PORTFOLIO TRANSFORMATION TOWARDS ELECTRIFICATION WAS ALREADY INITIATED IN 2019

Exit/Phase-out of ICE technologies with limited market potential: fuel injection equipment, fuel delivery, turbocharger, selective catalytic reduction systems.

€2.0 billion sales with negative profitability.

NON-CORE ICE TECHNOLOGIES CONTRACT MANUFACTURING FOR CONTINENTAL

Contract Manufacturing structure implemented to ensure a time-efficient and cost-optimized exit of formerly shared production plants.

€1.1 billion sales to Continental AG and similar vice versa, profitability largely offset on group level.

Substantially completed by 2025

Source: Company information. Notes: ICE: Internal Combustion Engine. Sales as per end of FY2020. Phase-out timeline may vary depending on strategic decisions and customer demand.

COMPETITIVENESS AND SUSTAINABILITY

POWERING CLEAN MOBILITY.

AS ONE TEAM.

OUR PORTFOLIO FOLLOWS A STRICT PLATFORM APPROACH

CUSTOMER VALUE

PROFITABLE BUSINESS CASES

Multi-customer platforms

Economies of scale

Optimized investment

Source: Company information. Notes: ¹Gross margin improvement of Electrification Technology business unit from FY2018 to FY2020.

OUR ENTIRE ORGANIZATION IS ELECTRIFIED

PRIORITY SETTING ON COMPANY LEVEL

• Common prioritization of commercial opportunities across all business units
• Accountability to future executive board

>€13 bn electrification order backlog across all business units¹ :

€6.9 bn Electrification Technology BU

UNIFIED ENGINEERING ORGANIZATION FOCUSED TRAINING

Pool of ~6,000 engineers, including key qualifications for electrification

Accountability and direct reporting to CEO

Training hours (in thousand)

Source: Company information. Notes: 1 Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020.

59

FOR EVERYONE. CREATING SUSTAINABLE VALUE.

WE CONTINUOUSLY RATIONALIZE OUR FOOTPRINT AND IMPROVE OUR OPERATIONS

Source: Company information. Notes: BCC: Best-Cost Countries. HCC: High-Cost Countries. BCC share reflects sales value of VT products produced in best-cost countries vs total sales value of VT products (excluding Contract Manufacturing to Continental, including products produced by Continental for VT via Contract Manufacturing); one South Korean location was reclassified HCC in FY2019 vs BCC trough FY2018. Smart Glasses: Headset equipped with camera and software allowing remote support e.g., via voice, pointer, screenshots, documents and real-time sketches. ¹ Targeted by second quarter 2021.

WE COMMIT TO CARBON-NEUTRAL PRODUCTION BY 2030

Source: Company information. Notes: CO² emissions referring to scope 1 and 2 as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

VITESCO TECHNOLOGIES – BUILDING AN ELECTRIFICATION POWERHOUSE

Proactive transformation of entire organization on track

Portfolio strategically positioned for profitable business

Entire organization geared towards electrification

Technology transfer and competitiveness measures initiated

ESG framework guides all activities

Mid-term phase-out of non-core ICE technologies and Contract Manufacturing

>55 pp gross margin improvement in Electrification Technology BU 2020 vs 2018¹

Unified engineering organization, ~41,000 training hours conducted in 2020²

Footprint focused on electrification, >70% best-cost share targeted³

100% carbon neutral scope 1&2 target by 2030⁴

Source: Company information. Notes: best-cost referring to plants in best-cost countries. CM: Contract Manufacturing. ICE: Internal Combustion Engine. ¹ Gross margin improvement of Electrification Technology business unit from FY2018 to FY2020. ² Referring to focused training hours in the area of electrification and software. ³ BCC share reflects sales value of VT products produced in best-cost countries vs total sales value of VT products (excluding Contract Manufacturing to Continental, including products produced by Continental for VT via Contract Manufacturing); one South Korean location has been reclassified

62 HCC in FY2019 vs BCC until FY2018. Mid-term plan. ⁴ Referring to scope 1 and 2 CO² emissions as defined by the Greenhouse Gas Protocol, World Resources Institute (WRI), World Business Council for Sustainable Development.

BUILDING AN ELECTRIFICATION POWERHOUSE

CAPITAL MARKET DAY 5 – FINANCING OUR GROWTH

Virtual Meeting, March 25, 2021 Vitesco Technologies

Public

VITESCO TECHNOLOGIES – BUILDING AN ELECTRIFICATION POWERHOUSE

Track record of continuously outperforming worldwide light vehicle production

Profitable resilient underlying business with major improvements in Electrification Technology

Transformation program will significantly increase profitability and future cash flow

Shift of capital expenditures to boost electrification growth

Sustainable balance sheet to provide future financial flexibility

ADJUSTED EBIT OF €254 MN WITHOUT ELECTRIFICATION TECHNOLOGY DRIVEN BY OUR ROBUST RECOVERY IN H2 2020

VITESCO TECHNOLOGIES (€ MN)

		FY2019	H1-20	H2-20	FY2020
	Sales	9,093	3,409	4,619	8,028
	% growth	-0.6%	-26.3%	3.3%	-11.7%
	EBITDA	180	-3	256	253
	% margin	2.0%	-0.1%	5.5%	3.2%
	Adj. EBITDA1	536	26	374	400
	% margin	5.9%	0.8%	8.1%	5.0%
	EBIT	-635	-301	-24	-324
	% margin	-7.0%	-8.8%	-0.5%	-4.0%
	Adj. EBIT2	53	-218	126	-92
	% margin	0.6%	-6.4%	2.7%	-1.1%
	Capex3	596	162	267	428
	% margin	6.5%	4.7%	5.8%	5.3%

65

HIGHLIGHTS & COMMENTS

Cost cutting measures in FY2020 of ~€320 mn, Capex reduction of ~€170 mn

Source: Company information. ⁵Based on IHS Markit, Automotive Alternative Propulsion Forecast as of 02/2021. Notes: FX: Foreign Exchange Rates. Sales includes non-light vehicle applications like commercial vehicles and two-wheelers. Outperformance refers to sales growth over light vehicle production within the respective period. ¹Before consolidation and special effects. ²Before consolidation, amortization of intangibles from PPA and special effects. ³ Capex 2019 and 2020 excluding right of use assets (IFRS 16). ⁴ Before changes in the scope of consolidation and exchange-rate effects. ⁶ Operating leverage defined as delta adj. EBIT divided by delta sales. FY2020 operating leverage refers to development in FY2020 vs FY2019, H2 2020 refers to development vs. H1 2020.

WELL BALANCED GLOBAL FOOTPRINT ENABLING OUTPERFORMANCE IN ALL MAJOR MARKETS

66 Source: Company information. Light vehicle production based on IHS Markit, Automotive Alternative Propulsion Forecast as of 02/2021. Notes: Sales data refers to FY2020 if not stated differently. Sales by region according to the location of Vitesco Technologies companies. Rest of the world represents 0.3% of total sales (FY2018: €58 mn; FY2019: €57 mn; FY2020: €27 mn). CAGR: Compound Annual Growth Rate. Light vehicle production refers to CAGR of FY2018-FY2020 of light vehicle production. Sales includes non-light vehicle applications like commercial vehicles and two-wheelers. Outperformance refers to sales CAGR vs. CAGR of light vehicle production for FY2018 to FY2020. ¹ Including China (21% of total 2020 VT sales).

STRONG FINANCIAL IMPROVEMENTS BASED ON OUR TRANSFORMATION PROGRAM

VITESCO TECHNOLOGIES (€ MN) TRANSFORMING INTO AN ELECTRIFICATION POWERHOUSE

		FY2018	FY2019	FY2020
	Sales	9,143	9,093	8,028
	% growth	0.7%	-0.6%	-11.7%
	EBITDA	636	180	253
	% margin	7.0%	2.0%	3.2%
	Adj. EBITDA1	647	536	400
	% margin	7.1%	5.9%	5.0%
	EBIT	184	-635	-324
	% margin	2.0%	-7.0%	-4.0%
	Adj. EBIT2	225	53	-92
	% margin	2.5%	0.6%	-1.1%
	Capex3	684	596	428
	% margin	7.5%	6.5%	5.3%

Source: Company information. Notes: ICE: Internal Combustion Engine. Phase-out timeline may vary depending on strategic decisions and customer demand. ¹Before consolidation and special effects. ²Before consolidation, amortization of intangibles from PPA and special effects. ³ Capex 2019 and 2020 excluding right of use assets (IFRS 16). ⁴ Substantial majority of CM phase-out planned to be completed by 2025. ⁵ Around 1/3 of non-core ICE technologies phase-out planned to be completed mid-term. ⁶ Excluding non-core ICE technologies and Contract Manufacturing. ⁷ Electrified part of underlying business.

CLEAR PHASE-OUT PLAN FOR CONTRACT MANUFACTURING

				NON-CORE TECHNOLOGIES
				Contract
in € mn	FY2018	FY2019	FY2020	Manufacturing
Sales	9,143	9,093	8,028	1,099
% growth	0.7%	-0.6%	-11.7%
EBITDA	636	180	253	115
% margin	7.0%	2.0%	3.2%	10.5%
Adj. EBITDA1	647	536	400	115
% margin	7.1%	5.9%	5.0%	10.5%
EBIT	184	-635	-324	53
% margin	2.0%	-7.0%	-4.0%	4.8%
Adj. EBIT2	225	53	-92	54
% margin	2.5%	0.6%	-1.1%	4.9%
Capex3	684	596	428	19
% margin	7.5%	6.5%	5.3%	1.7%

EXIT OR PHASE-OUT OF NON-CORE ICE TECHNOLOGIES

					NON-CORE TECHNOLOGIES
					Contract	Non-core ICE
	in € mn	FY2018	FY2019	FY2020	Manufacturing	technologies
	Sales	9,143	9,093	8,028	1,099	1,996
	% growth	0.7%	-0.6%	-11.7%
	EBITDA	636	180	253	115	45
	% margin	7.0%	2.0%	3.2%	10.5%	2.3%
	Adj. EBITDA1	647	536	400	115	47
	% margin	7.1%	5.9%	5.0%	10.5%	2.3%
	EBIT	184	-635	-324	53	-143
	% margin	2.0%	-7.0%	-4.0%	4.8%	-7.2%
	Adj. EBIT2	225	53	-92	54	-132
	% margin	2.5%	0.6%	-1.1%	4.9%	-6.6%
	Capex3	684	596	428	19	67
	% margin	7.5%	6.5%	5.3%	1.7%	3.3%

OUR CORE TECHNOLOGIES CONSIST OF PROFITABLE UNDERLYING BUSINESS AND GROWING ET BU

				NON-CORE TECHNOLOGIES		CORE TECHNOLOGIES
					Contract	Non-core ICE
	in € mn	FY2018	FY2019	FY2020	Manufacturing	technologies	∑
	Sales	9,143	9,093	8,028	1,099	1,996	4,932
	% growth	0.7%	-0.6%	-11.7%
	EBITDA	636	180	253	115	45	92
	% margin	7.0%	2.0%	3.2%	10.5%	2.3%	1.9%
	Adj. EBITDA1	647	536	400	115	47	238
	% margin	7.1%	5.9%	5.0%	10.5%	2.3%	4.8%
	EBIT	184	-635	-324	53	-143	-234
	% margin	2.0%	-7.0%	-4.0%	4.8%	-7.2%	-4.7%
	Adj. EBIT2	225	53	-92	54	-132	-13
	% margin	2.5%	0.6%	-1.1%	4.9%	-6.6%	-0.3%
	Capex3	684	596	428	19	67	343
	% margin	7.5%	6.5%	5.3%	1.7%	3.3%	7.0%

STRONG CASH GENERATION IN OUR RESILIENT UNDERLYING BUSINESS

				NON-CORE TECHNOLOGIES CORE TECHNOLOGIES
					Contract	Non-core ICE		Underlying
in € mn	FY2018	FY2019	FY2020	Manufacturing	technologies	∑	business
	Sales	9,143	9,093	8,028	1,099	1,996	4,932	4,526
	% growth	0.7%	-0.6%	-11.7%
	EBITDA	636	180	253	115	45	92	419
	% margin	7.0%	2.0%	3.2%	10.5%	2.3%	1.9%	9.3%
	Adj. EBITDA1	647	536	400	115	47	238	561
	% margin	7.1%	5.9%	5.0%	10.5%	2.3%	4.8%	12.4%
	EBIT	184	-635	-324	53	-143	-234	167
	% margin	2.0%	-7.0%	-4.0%	4.8%	-7.2%	-4.7%	3.7%
	Adj. EBIT2	225	53	-92	54	-132	-13	332
	% margin	2.5%	0.6%	-1.1%	4.9%	-6.6%	-0.3%	7.3%
	Capex3	684	596	428	19	67	343	227
	% margin	7.5%	6.5%	5.3%	1.7%	3.3%	7.0%	5.0%

RAPIDLY GROWING ELECTRIFICATION TECHNOLOGY WITH MAJOR OPERATIONAL IMPROVEMENTS

				NON-CORE TECHNOLOGIES		CORE TECHNOLOGIES
in € mn				Contract	Non-core ICE	∑	Underlying	Electrification
	FY2018	FY2019	FY2020	Manufacturing	technologies		business	Technology
Sales	9,143	9,093	8,028	1,099	1,996	4,932	4,526	406
% growth	0.7%	-0.6%	-11.7%
EBITDA	636	180	253	115	45	92	419	-327
% margin	7.0%	2.0%	3.2%	10.5%	2.3%	1.9%	9.3%	-80.5%
Adj. EBITDA1	647	536	400	115	47	238	561	-323
% margin	7.1%	5.9%	5.0%	10.5%	2.3%	4.8%	12.4%	-79.6%
EBIT	184	-635	-324	53	-143	-234	167	-401
% margin	2.0%	-7.0%	-4.0%	4.8%	-7.2%	-4.7%	3.7%	-98.8%
Adj. EBIT2	225	53	-92	54	-132	-13	332	-346
% margin	2.5%	0.6%	-1.1%	4.9%	-6.6%	-0.3%	7.3%	-85.2%
Capex3	684	596	428	19	67	343	227	116
% margin	7.5%	6.5%	5.3%	1.7%	3.3%	7.0%	5.0%	28.5%

SALES PERFORMANCE IN CORE TECHNOLOGIES 6.0PP ABOVE VEHICLE PRODUCTION

Source: Company information. Light vehicle production according to IHS Markit Automotive Alternative Propulsion Forecast as of 02/2021 in mn units. Notes: CAGR: Compound Annual Growth Rate between FY2018 and FY2020. ¹Includes consolidation (FY2018: €-72 mn; FY2019: €-17 mn; FY2020: €-32 mn). Sales includes non-light vehicle applications like commercial vehicles and two-wheelers.

UNDERLYING BUSINESS WITH ABOVE-AVERAGE PROFITABILITY IS FUNDING RAMP-UP IN ELECTRIFICATION TECHNOLOGY

Source: Company information. Notes: Adj. EBIT before consolidation, amortization of intangibles from PPA and special effects. ¹Includes consolidation (FY2018: €2 mn; FY2019: €-0 mn; FY2020: €4 mn).

ET BU TO QUICKLY RAMP UP WITH SIGNIFICANTLY INCREASING PROFITABILITY AND BREAK-EVEN TARGETED IN 2024

ELECTRIFICATION TECHNOLOGY DEVELOPMENT COMMENTS

Source: Company information. Notes: Order backlog defined as sum of cumulative order intake not yet booked as sales as per end of FY2020. ¹Before consolidation, amortization of intangibles from PPA and special effects.

7.0% TO 9.0% ADJUSTED EBIT MARGIN TARGETED MID-TERM

^{678 605} 332 -358 -298 -346 -160 -321 -132 FY2018 FY2020 65 53 225 67 FY2019 54 -92 COMMENTS ON MID-TERM Electrification Technology with major operational improvements and new profitable business Double-digit adj. EBIT margins targeted in underlying business with normalization of markets and further cost discipline Phase-out of less profitable non-core ICE technologies and Contract Manufacturing MID-TERM TARGET 7.0-9.0% adj. EBIT margin on group level, driven by underlying business and ET BU turning profitable Vitesco Technologies mid-term target Non-core ICE technologies Electrification Technology Underlying business¹ Contract Manufacturing VITESCO TECHNOLOGIES ADJUSTED EBIT (€ MN)

Source: Company information. Notes: ICE: Internal Combustion Engine. Adj. EBIT before consolidation, amortization of intangibles from PPA and special effects. ¹Includes consolidation (FY2018: €2 mn; FY2019: €-0 mn; FY2020: €4 mn).

CAPITAL EXPENDITURES SHIFTS TOWARD CORE TECHNOLOGIES

Source: Company information. Notes: Capex 2019 and 2020 excluding right of use assets (IFRS 16). ¹Includes consolidation (FY2018: €0 mn; FY2019: €0 mn; FY2020: €0 mn).

CASH FLOW TO IMPROVE AT GROWING PROFITABILITY

KEY CASH FLOW ITEMS (€ MN) COMMENTS

	FY2018	FY2019	FY2020
EBITDA	636	180	253
Δ Net Working Capital (NWC)1	-81	151	-179
Other	125	362	-80
Operating cash flow	680	693	-6
Capex2	-684	-596	-428
Other	40	-42	-21
Investing cash flow	-644	-637	-450
Free cash flow3	36	55	-456

Negative other changes in FY2020 mainly due to one-off items including tax effects, warranty and restructuring (including carve-out effects) Additional NWC impact by early payments to support supplier liquidity in FY2020 NWC FY2019 and FY2020 still highly impacted by carve-out and spin-off effects. FY2018 NWC reflects the normalized NWC levels

MID-TERM TARGET

More than €400 mn free cash flow³

Source: Company information. Notes: ¹As part of the carve-out, assets-deal Trade A/R and Trade A/P were not transferred to VT, therefore part of the NWC change is not cash effective but resulted in a change of equity. ² Capex on PP&E, and software. ³Free cash flow calculated as operating cash flow + investing cash flow.

SOLID BALANCE SHEET AND EQUITY RATIO PROVIDE THE FINANCIAL FOUNDATION FOR OUR TRANSFORMATION

BALANCE SHEET AS PER END OF FY2020 (€ MN)

Source: Company information. Notes: ¹Equity divided by total equity and liabilities. ²Net debt as per end of FY2020 amounts to -€406 mn, which includes long- and short-term debt of €870 mn (incl. financing with Continental), receivables from financing with Continental of €1,021 mn and cash & cash equivalents of €255 mn. Mid-term target not considering inorganic growth. ³ Before consolidation and special effects.

COMMENTS

ORDER INTAKE SHIFT TO CORE TECHNOLOGIES

Source: Company information. Notes: Order intake defined as sum of acquired lifetime sales within the respective fiscal year. Order backlog defined as sum of cumulative order intake not yet booked as sales. Green shade in underlying business order backlog and order intake indicates share of electrified business within the underlying business as per end of FY2020. ¹Ratio of order intake over sales excluding Contract Manufacturing. ² Electrified part of underlying business. ³Underlying business excluding electrified part of underlying business.

OUR TARGETS UNDERLINE OUR AMBITION TO BUILD AN ELECTRIFICATION POWERHOUSE

MID-TERM TARGETS

	Group	3.0-5.0%			Sales CAGR1
Sales	Core Technologies				% growth	3.0-5.0%
CAGR1 % growth	Electrification Technology		More than €2 bn mid-term		Adj. EBIT2
	Electronic Controls		Non-core ICE		% of sales	7.0-9.0%
	Sensing & Actuation		technologies: Around 1/3 to be phased-out mid-term		Capex3	~6.0%
	Contract Manufacturing		Subst. phased-out 2025	Group	% of sales
	Group	7.0-9.0%				>€400 mn
Adj.	Core Technologies				Free cash flow
EBIT2 % of sales	Electrification Technology		Break-even targeted in 2024		Net debt5 /
	Electronic Controls				adj. EBITDA6	<1.0x
	Sensing & Actuation
	Contract Manufacturing		Subst. phased-out 2025		Dividend payout7	15-30%

Source: Company information. Notes: Phase-out timeline may vary depending on strategic decisions and customer demand. ¹Mid-term growth target as a CAGR based on FY2020. ²Before consolidation, amortization of intangibles from PPA and special effects. ³ Capex excluding right of use assets (IFRS 16). ⁴ FCF calculated as operating cash flow + investing cash flow. ⁵Net debt as per end of FY2020 amounts to -€406 mn,

81 which includes long- and short-term indebtedness of €870 mn (incl. financing with Continental), receivables from financing with Continental of €1,021 mn and cash & cash equivalents of €255 mn. Mid-term target not considering inorganic growth. ⁶ Before consolidation and special effects. ⁷ Dividend payout defined as dividend payment divided by net income attributable to common shareholders. Timing of dividend payments to be determined at a later stage.

VITESCO TECHNOLOGIES – BUILDING AN ELECTRIFICATION POWERHOUSE

Track record of continuously outperforming worldwide light vehicle production

Profitable resilient underlying business with major improvements in Electrification Technology

Transformation program will significantly increase profitability and future cash flow

Shift of capital expenditures to boost electrification growth

Sustainable balance sheet to provide future financial flexibility

82

Core technologies outperformance of 6.0pp¹ in FY2018- FY2020

ET gross margin improved by >55pp from FY2018 to FY2020 with high cash conversion in underlying business

Strong cash generation targeted mid-term with free cash flow³ above €400 mn

Boost in electrification while overall capex targeted to remain at ~6.0%² mid-term

Net cash position with a net debt⁴ / adj. EBITDA⁵ of -1.0x in FY2020 and strong equity ratio of 32.9%⁶

Source: Company information. Notes: ¹Based on IHS Markit, Automotive Alternative Propulsion Forecast, 16 February 2021. Outperformance refers to sales CAGR vs. CAGR of light vehicle production for FY2018 to FY2020. ² Capex excluding right of use assets (IFRS 16). ³Free cash flow calculated as operating cash flow + investing cash flow. ⁴Net debt amounts to -€406 mn, which includes long- and short-term indebtedness of €870 mn (incl. financing with Continental), receivables from financing with Continental of €1,021 mn and cash & cash equivalents of €255 mn. ⁵ Before consolidation and special effects. ⁶Equity divided by total equity and liabilities.

THANK YOU!

APPENDIX

ELECTRIFICATION: CORE TECHNOLOGIES FOR LIGHT VEHICLES

OUR SYSTEM COMPETENCES ENABLE PRODUCT AND COMPLETE SYSTEM OPTIMIZATION

85

Electrification Technology Business Unit

Electronic Controls Business Unit

Sensing & Actuation Business Unit

COMBUSTION: CORE TECHNOLOGIES FOR LIGHT VEHICLES

OUR SYSTEM COMPETENCES ENABLE PRODUCT AND COMPLETE SYSTEM OPTIMIZATION

Business Unit

Business Unit

Business Unit

NON-CORE COMBUSTION TECHNOLOGIES FOR LIGHT VEHICLES

WITH LIMITED LONG-TERM MARKET PERSPECTIVE

FINANCIAL GOVERNANCE – ELEMENTS OF REPORTING

Basis of preparation	Combined Financial Statements were prepared in accordance with IFRS as endorsed by the EU as per December 31, 2020, applying the predecessor accounting approach
	Using the extraction method, assets and liabilities included in Combined Financial Statements correspond to the historically reported amounts from the Consolidated Financial Statements of Continental Group
	Additional information provided by management per segment focusing on core technologies
	Vitesco Technologies' reporting currency is Euro (€)
	Order backlog and order intake are unaudited
	H1 FY2021 financials including comparable H1 FY2020 figures will be provided at a later stage
	Fully SAP based global reporting system
Reporting process	Budget planning with 1-year time horizon, strategic planning with additional 4-year time horizon
	Monthly review of P&L, Balance Sheet, Cash Flow Statement and important KPls by reporting entities
	EBIT adjustments include (goodwill) impairment, PPA amortization, restructuring as well as carve-out / spin-off
Adjustments	cost
	Warranty costs are not part of the adjustments

Source: Company information. Notes: Order backlog defined as sum of cumulative order intake not yet booked as sales. Order intake defined as sum of acquired lifetime sales within the respective fiscal year.

CONTRACT MANUFACTURING IMPACT ON THE FINANCIALS OF VITESCO TECHNOLOGIES IS LARGELY OFFSET

CONTINENTAL RELATIONSHIP: OVERVIEW HIGHLIGHTS & COMMENTS

Contract Manufacturing structure implemented to ensure a time-efficient and cost-optimized exit of formerly shared production plants

Phase-out planned to be substantially completed by 2025

• Purchasing from Continental shown as costs of goods sold for operational business units
• Profitability largely offset on VT level

Source: Company information. Notes: Phase-out timeline may vary depending on strategic decisions and customer demand.

OVERVIEW OF ADJUSTMENTS TO HISTORICAL OPERATING PROFIT FOR VITESCO TECHNOLOGIES

REPORTED EBIT TO ADJ. EBIT BRIDGE (€ MN) HIGHLIGHTS & COMMENTS

		FY2018	FY2019	FY2020
Reported EBIT		184	-635	-324
% margin in		0% 2	0% -7	0% -4
+ D&A		451	815	577
Reported EBITDA		636	180	253
margin in %		0% 7	2 0%	3 2%
Restructuring	A	14	362	87
Impairment portion of restructuring1		-3	-55	-7
Carve out / Spin-off costs	B	-	46	53
Cons		-	3	14
Adj. EBITDA2		647	536	400
% margin in		1% 7	9% 5	0% 5
included in D&A3 One-off impairment	C	30	332	86
- D&A w/o one-off		-422	-483	-491
Adj. EBIT4		225	53	-92
margin in %		2 5%	0 6%	-1 1%
Warranty costs included in adj. EBIT	D	-159	-193	-124
in % of sales		-1 7%	-2 1%	-1 5%

• Adjustments include (goodwill) impairment, PPA amortization, restructuring as well as carve-out / spin-off cost. Warranty costs are not part of the adjustments
• Restructuring expenses in FY2020 mainly related to Electronic Controls and phase-out of respective businesses A
• Carve-out / Spin-off costs include advisory and one-off costs related to spin-off and ongoing expenses due to transition away from shared plants with Continental B
• One-offs within D&A are mainly due to impairments and included a significant goodwill impairment in FY2019 C
• Warranty expenses are extraordinary, but are not adjusted for and therefore fully reflected in adj. EBITDA D

Source: Company information. Notes: D&A: Depreciation and Amortization. ¹ Already included in D&A. ²Before consolidation and special effects. ³Includes impairment, PPA amortization, goodwill impairment, rolling impairment of ET as well as impairment portion of restructuring expenses. ⁴Before consolidation, amortization of intangibles from PPA and special effects.

NET WORKING CAPITAL LEVELS IMPACTED BY CARVE-OUT

NET WORKING CAPITAL DEVELOPMENT (€ MN) KEY DEVELOPMENTS

	FY2018	FY2019	FY2020
Inventories1	621	621	562
(% of sales)	6.8%	6.8%	7.0%
Accounts receivable	1,553	1,475	1,984
(% of sales)	17.0%	16.2%	24.7%
Accounts payable	1,680	1,964	2,216
(% of sales)	18.4%	21.6%	27.6%
Net Working Capital (NWC)	493	132	330
(% of sales)	5.4%	1.5%	4.1%

• NWC FY2019 and FY2020 still highly impacted by carve-out and spin-off effects. FY2018 NWC reflects the normalized NWC levels
• FY2018 NWC assumed regular business relationships with OEMs
• Amongst others, Trade A/P are inflated by service agreements
• 2021 and following, contract manufacturing conditions with Continental will contribute to an increase in Trade A/P

CASH EFFECT

As part of the carve-out, assets-deal Trade A/R and Trade A/P were not transferred to Vitesco Technologies, therefore part of the NWC change is not cash effective but resulted in a change of equity

Source: Company information. Notes: Net Working Capital (NWC) is calculated as (Inventories + Accounts receivable – Accounts payable). ¹Inventories including work-in-progress R&D (FY2018: €22mn, FY2019: €55mn, FY2020: €56mn).