Gestamp Automocion S.A.

Investor Presentation • Jul 26, 2021

H1 2021 Results Presentation

G-LAB FAMILY FROM THE GESTAMP´S G-LAB PROGRAM

July 26th, 2021

This presentation has been prepared solely for use at this presentation of our results as of and for the first half ended June 30th , 2021. By attending the conference call meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations.

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Highlights for H1 2021

Financial Overview

Outlook and Remarks

Solid results in H1 despite a more complex volume momentum in Q2 due to the semiconductors shortage impact

Company fully focused on delivering on our targets

(1) Measured at constant FX for comparability reasons and based on IHS data as of July 2021 (2) Free Cash Flow excludes dividends, share repurchases as well as potential M&A items

Financial Performance in H1 2021

(In million Euros – excl. TP)	H1 2020	H1 2021
Total Revenue	3,045	4,076
EBITDA	216	498
EBITDA margin (%)	7.1%	12.2%
EBIT	-87	208
EBIT margin (%)	-2.9%	5.1%
Net Income	-120	83
Capex (excl. IFRS 16)	257	212
Net debt (excl. IFRS 16)	2,652	2,066
Operating Leases (IFRS 16)	386	414
H1 2021 Revenue increased by 40.3% at constant FX and

EBITDA improved by 143.4% at constant FX

Note: Reported Revenue increase of 33.8% and EBITDA increase of 130.7%

(In million Euros – excl. TP)	Q2 2020	Q2 2021
Total Revenue	1,034	1,967
EBITDA	23	240
EBITDA margin (%)	2.3%	12.2%
EBIT	-130	96
EBIT margin (%)	-12.6%	4.9%
Net Income	-134	32
Capex (excl. IFRS 16)	111	102

Q2 2021 Revenue increased by 95.9% at constant FX and EBITDA improved by 965.7% at constant FX

Note: Reported Revenue increase of 90.3% and EBITDA increase of 928.3%

Gestamp Revenue Growth at Constant FX vs. Market Production Growth in Gestamp Markets

Note: Gestamp's growth at constant FX used for comparability with production volumes. Market production volume growth is based on countries in Gestamp's production footprint (IHS data for H1 2021 as of July 2021). Western Europe data includes Morocco in line with our reporting. 1. Market and Gestamp weighted growth measured with H1 2020 geographical weights as a base

Quarterly forecast - Supply Chain Disruptions – Semiconductors

Global Light Vehicle production volumes in Q2 21 were -15.1% below those of Q2 19, but +48.6% above Q2 20, which was heavily impacted by the pandemic

IHS quantifies the volumes lost in -1.44 Mveh for Q1 and -2.59 Mveh for Q2, and forecasts -0.86 Mveh in Q3 due to the semiconductor shortages

Source: IHS Production as of July 2021. 2021 figures are susceptible to change / Semiconductor impact IHS version of July 16th

Outlook for the Auto Market in the Coming Quarters

Solid industry fundamentals – Low inventories and high demand driving price hikes

Source: 1) IHS as of July 2021 and 2) US Bureau of Labor Statistics

© Gestamp 2021 9

Transformation Plan – Execution on Track

Adjusting industrial and operational structure to the current market situation

Note: Gross Margin calculated as Revenues minus Raw Materials. 2020 levels affected by Covid-19 impact

Continuous Financial Performance Enhancement

EBITDA Margin Trend (%) Considerations

• Strong profitability track record and QoQ variation despite the lower volumes in Q2 21 vs. Q1 21 thanks to:
  • − Cost reduction measures from the Transformation Plan
  • − Operational stability achieved at our plants with less launches / no greenfields

Considerations

• Net income reaching €32m on the back of:
  • − Improved EBITDA
  • − Lower net financial expenses
  • − Positive forex differences

Note: EBITDA Margin and Net Income excluding Transformation Plan impact in Q2 2020

Key Highlights for H1 2021

Financial Overview

Outlook and Remarks

Consolidating Positive Performance Despite Tough Market Conditions

		Revenues (€m)	EBITDA (€m)	EBITDA Margin (%)
		H1 20 H1 21 Var. (%)	H1 20 H1 21 Var. (%)	H1 2020 H1 2021
	Western Europe	1,332 1,810 35.9 %	64 193 198.9 %	4.8% 10.6%
	Outperformance: +9.6 p.p. Performance at constant FX: +198.6 %
	Eastern Europe	478 640 33.8 %	64 105 65.1 %	13.3% 16.4%
		Outperformance: +14.7 p.p.	Performance at constant FX: +86.0 %
	NAFTA	665 890 33.9 %	44 105 136.6 %	6.7% 11.8%
		Outperformance: +8.8 p.p.	Performance at constant FX: +152.2 %
	Mercosur	143 221 55.2 %	-7 24 n.m.	-5.0% 10.8%
		Outperformance: +34.1 p.p.	Performance at constant FX: n.m.
	Asia	428 515 20.3 %	51 72 41.3 %
		Underperformance: -4.2 p.p.	Performance at constant FX: +44.4 %	11.8% 13.9%
		3,045 4,076 33.8 %	216 498 130.7 %
		Outperformance: +10.8 p.p.	Performance at constant FX: +143.4 %	7.1% 12.2%

Note: Gestamp's growth at constant FX used for comparability with production volumes. Market production volume growth based on countries in Gestamp's production footprint (IHS data as of July 2021). W. Europe data includes Morocco in line with our reporting. Outperformance calculated on a constant FX basis.

Capex Control Still Within Our Top Priorities

Capex moderation resulting in 5.2% of revenues in H1 2021

Note: Capex incl. IFRS 16 in H1 2021 amounted to €219m

(1) Growth capex defined as capital expenditure on greenfield property, plant & equipment, major plant expansions and new customer products/technologies

(In million Euros)

Free Cash Flow Generation of €19m in H1 2021, €91m at FY20 constant factoring levels

(1) Net cash capex investments

(2) Other non-cash items include change in provisions, grants related to income, gains and losses from asset disposals, unrealized exchange rate differences and other income and expenses

(3) Free Cash Flow excludes dividends, share repurchases as well as potential M&A items

(4) Free Cash Flow generation assuming FY 2020 factoring levels of €633m

Net debt (excl. IFRS16)

(In €m)

	H1 2020	FY 2020	H1 2021
Net Debt (excl. IFRS 16)	2,652	2,058	2,066
Operating Leases (IFRS 16)	386	427	414
Net Debt (incl. IFRS 16)	3,037	2,485	2,480
ND/EBITDA (excl. IFRS 16) (1)	3.9x	3.1x	2.2x

Considerations

• Net debt reached €2,066m (excl. IFRS 16) at H1 2021, remaining broadly stable vs. FY 2020
• Continued improvement of our leverage ratio to 2.17x (excl. IFRS 16)
• Solid liquidity level at €2.3bn

Note: Net Debt / EBITDA calculated by excluding the Transformation Plan at EBITDA level in 2020 (no impact in Q1) but including its cash impact at net debt (1) Excluding IFRS 16 and the impact of the Transformation Plan

Minorities Repurchase Strategy Started

3

1 Partial acquisition of minorities in China (Cofides)

2 Enhancing net profit Investment of €26m outlaid in Q2 2021

Further repurchases to be carried out

China key growth area within our strategy

Use of liquidity resources

Key Highlights for H1 2021

Financial Overview

Outlook and Remarks

	Former Guidance 2021	Revised Guidance 2021
Revenues	Mid-single digit outperformance to the market	Mid-single digit outperformance to the market
EBITDA margin	EBITDA margin >12%	EBITDA margin >12%
Capex (1)	~ 7% of revenues	< 6.5% of revenues
Net Debt (1) (2)	< €2 bn	> €100m reduction vs. FY 2020

Focus on increasing profitability and FCF generation as a key priority

Note: On a constant FX basis. Excluding the systemic effect of coronavirus. (1) Excluding IFRS 16. and (2) Net Debt excl. IFRS 16 as of FY 2020 of €2,058m

© Gestamp 2021 19

Gestamp continues to focus on the EV trend and leveraging projects around Next Gen EU funds in its commitment to the new challenges of a more sustainable mobility

Note: (1) On a constant FX basis

Investor Relations

© Gestamp 2021 21

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