RENK Group AG

Investor Presentation • Aug 13, 2025

TRUSTED PARTNER.

H1 2025 Analyst Presentation

Dr. Alexander Sagel, CEO Anja Mänz-Siebje, CFO 13 August 2025

Continued growth and strategy execution, defense as main driver

Highlights

• Strong H1 2025 order intake of €921m (H1 2024: €628m) with book-to-bill at 1.5x (H1 2024: 1.2x)
• Total order backlog marks new all-time high of €5.9bn (Dec 2024: €5.0bn)
• Defense business (land and sea) with +46% (order intake) and +32% (revenue) as main growth driver in H1 2025
• PMI process of Cincinnati Gearing Systems (RAMI) fully on track
• Main strategic activities initiated regarding future product portfolio (ARX, NextGen MBT transmission)

Key order intakes H1 2025

THOR III / transmissions ~ €170m

~ €130m International customer / transmissions + engines

Various international customers / transmissions

~ €90m

VTA spare parts (MBT/IFV/APC / transmissions) ~ €60m

Latvia / Asian customer #52 transmissions

RENK Group with a strong order momentum & on a profitable growth path

• Order intake Record level for a H1
• Revenues growth clearly exceeding our mid-term growth guidance of 15%
• Adj. EBIT growth outpacing revenue growth
• Adj. EBIT margin solid margin improvement

Defense business is driving the Group performance

Vehicle Mobility Solutions

• Order intake momentum on a solid level
• Continued strong performance of VTA and RAM; RAM with new monthly record output of 91 transmissions in June
• Further increased aftermarket activities by various European customers

H1 2023 H2 2023 H1 2024 H2 2024 H1 2025

Marine & Industry

• Good segment performance despite GDP related headwinds for industry sector
• Q2 (over)compensated for Q1 in terms of revenue growth
• Navy as main driver for order intake and revenues

H1 2023 H2 2023 H1 2024 H2 2024 H1 2025

Slide Bearings

• Overall, a robust segment performance despite economic headwinds for the industry segment
• E-bearings segment remains backbone of slide bearing business

H1 2023 H2 2023 H1 2024 H2 2024 H1 2025

Ongoing strong market momentum lifting total order backlog to all-time high despite well performing revenue conversion

Financial Summary TRUSTED PARTNER.

Anja Mänz-Siebje, CFO

Top-line development clearly reflects the successful execution of growth strategy

RENK Group AG | H1 2025 Conference Call

YoY growth Book-to-bill ratio(1)

Margin expansion driven by operational efficiency

VMS: Strong top-line momentum converted into substantial adj. EBIT growth

Segment financials, €m

M&I: Solid top-line expansion driving margin improvement

Segment financials, €m

YoY growth Adj. EBIT margin

Slide Bearings: Profitability remains above group level with resilient revenue

Segment financials, €m

YoY growth Adj. EBIT margin

Adjustments largely driven by Purchase Price Allocation

For the period, €m

	H1-24	H1-25
Operating profit	35.6	59.3
1 PPA depreciation and amortization as well as income / losses from PPA asset disposals	22.1	22.2
Operating profit before PPA depreciation and amortization as well as income / losses from PPA asset disposals	57.7	81.5
2 Adjustments	11.2	7.8
Adj. EBIT	69.0	89.2
Depreciation, amortization and impairment losses (excluding PPA depreciation and amortization)	15.7	15.6
Adj. EBITDA	84.6	104.8

FINANCIAL SUMMARY

NWC increase mainly up due to inventory build-up from customer demand

Strong positive Free Cash Flow in H1-25 despite tactical NWC build up

OUTLOOK TRUSTED PARTNER.

Dr. Alexander Sagel, CEO

2025 Guidance confirmed based on first half-year performance

18

Definition of 2030 mid-term targets

• RENK well positioned to participate in upcoming GER/EU programs
• Higher visibility of additional orders expected towards the end of 2025
• Presentation of new 2030 mid-term targets on upcoming CMD (20 November 2025)

Overview Key Order Intake Programs

20

German Procurement Process: First order intakes for RENK expected during H1 2026, revenue conversion depending on contracting condition

(1) As of today; volumes to be further validated until RENK CMD (20 November 2025)

21

Clear focus on H2 2025 priorities

Key technology initiatives initiated to secure RENK's future growth

Strategic Cooperation with ARX Robotics

NextGen MBT Transmission

• Strategic partnership for software-defined defense mobility for platforms between 0.5 to 60 tons
• Autonomous capabilities of existing RENK Group mobility portfolio
• Developing new concepts for multipurpose UGV platforms (5-20 tons)
• Joint market exploration

• 1,400kw performance
• Fully digital drive train/drive-by-wire
• Modular configuration concept
• Media round table 20 August 2025

Key takeaways

1

RENK delivered a strong H1 performance, improved on a record total order backlog level of ~EUR6bn and confirmed the FY 2025 guidance

3

Well prepared to absorb the near and mid term increase in German and EU defense spending on back of our well invested asset base and defined production strategy

Key product portfolio activities launched to secure leading technological position (Autonomy/UGV, NextGen MBT transmission)

Financial Calendar H2 2025

TRUSTED PARTNER.

Q&A Session

RENK Group / Company presentation / March 2023

TRUSTED PARTNER.

Your contact

Investor Relations:

Julia Brand, Senior IR Manager Phone: +49 821 5700 735 E-Mail: investors@renk.com

Maximilian König, Senior IR Manager Phone: +49 821 5700 9302 E-Mail: investors@renk.com

Christian Weiß, Senior IR Manager Phone: +49 821 5700 9279 E-Mail: investors@renk.com

RENK Group / Company presentation / March 2023

RENK Group AG

Goegginger Straße 73 D-86159 Augsburg Germany www.renk.com

Management Board: Dr. Alexander Sagel (Chairman), Anja Mänz-Siebje, Dr. Emmerich Schiller Supervisory Board: Claus von Hermann (Chairman) Registration Court: District court of Augsburg, HRB 39189 VAT ID number: DE 363351811

Disclaimer

By accessing this presentation, you agree to be bound by the following limitations.

This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed as, an offer of, a solicitation of an offer to buy, or an invitation to subscribe for, underwrite or otherwise acquire, any securities of RENK Group AG (the "Company", and together with its subsidiaries, the "Group"), nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or with any other contract, commitment or investment decision whatsoever.

Certain financial data included in this presentation consists of non-IFRS financial measures. These non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures included herein. Past events or performances should not be taken as a guarantee or indication of future events or performance. Financial information presented in parentheses denotes the negative of such number presented. Any assumptions, views or opinions (including statements, projections, forecasts or other for-ward-looking statements) contained in this presentation represent the assumptions, views or opinions of the Company as of the date indicated and are subject to change without notice. All information not separately sourced is from Company data and estimates. To the extent available and unless denoted otherwise, the industry and market data contained in this presentation has been derived from Company estimates as well as official or third-party sources. Market and market share data has been derived from Company estimates as well as official or third-party sources. Market and market share data are based on company internal estimates derived from continuous analysis and aggregation of local management feedback on market share and ongoing market development. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein. In addition, certain of the industry and market data, if not labelled otherwise, contained in this presentation are derived from the Company's internal research and estimates based on the knowledge and experience of its management in the markets in which it operates. The Company believes that such research and estimates are reasonable and reliable, but their underlying methodology and assumptions have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this presentation. Information contained in this presentation related to past performance is not an indication of future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto.

Certain Information included in this Presentation is taken or derived from third-party market studies or reports. Market studies are usually based on certain assumptions and expectations that may not be accurate or appropriate, and their methodology is by nature predictive and speculative and therefore subject to uncertainties. The data reflected in market studies is typically based on other industry publications as well as market research, which itself is based on sampling and subjective judgments by both the researchers and the respondents, including judgments about what types of products and transactions should be included in the relevant market. Accordingly, market studies generally state that the information contained therein is believed to be accurate but that no representation or warranty is given by the market study provider as to the accuracy or completeness of such information and that the opinions and analyses provided in the relevant market study are not representations of fact. The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made by the Company nor its affiliates, advisers, connected persons or any other person as to the fairness, accuracy, completeness or correctness of the information contained herein, and no reliance should be placed on it. Neither the Company nor its affiliates, advisers, connected persons, and/or any third-party provider of industry and market data referred to in this Presentation (including Roland Berger) or any other person accepts any liability for any loss howsoever arising (in negligence or other-wise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. This shall not, however, restrict or exclude or limit any duty or liability to a person under any applicable law or regulation of any jurisdiction which may not lawfully be disclaimed (including in relation to fraudulent misrepresentation). This presentation includes "forward-looking statements". These statements contain the words "anticipate", "believe", "intend", "estimate", "expect" or words of similar meaning. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including cost savings and productivity improvement plans) are forward-looking statements. By their nature,such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the market environment in which the Company will operate in the future. These forward-looking statements speak only as of the date of this presentation. Each of the Company, the relevant subsidiaries and their respective agents, employees and advisers, expressly disclaims any obligation or undertaking to update any forward-looking statements contained herein. You are urged to consider these factors carefully in evaluating the forward-looking statements in this presentation and not to place undue reliance on such statements.

Trusted Partner

The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice. For further details, please refer to the footnotes section at the end of the presentation.

Income statement

For the period, €m

	H1 2024	H1 2025
Revenue	510 3	620 2
Cost of sales	(395 6)	(474 0)
Gross profit	114 7	146 1
Distribution expenses	(30 4)	(34 2)
General and administrative expenses	(48 7)	(50 5)
Net allowances on financial assets	0 5	0 2
Other income	3 4	11 4
Other expenses	(4 0)	(13 8)
Operating profit	35 6	59 3
Interest expense	(23 2)	(17 4)
Other financial result	7 8	(10 9)
Financial result	(15 4)	(28 3)
Profit / before loss tax	20 2	31 0
Income taxes	(12 7)	0 2
Profit / loss after tax	7 5	31 2

Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition

Balance sheet – Total assets

As of, €m

	Dec 31 2024 ,	Jun 30 2025 ,
Intangible assets	360 5	332 4
Property , plant and equipment	320 7	330 7
Other and financial investments	0 8	0 8
Deferred tax assets	22 4	28 5
Other financial non-current assets	0 1	0 3
Other receivables non-current	12 7	15 3
Non-current assets	717 2	708 1
Inventories	391 2	446 2
Trade receivables	163 6	190 7
Contract assets	114 9	128 9
Current income tax receivables	12 0	17 9
Other current financial assets	6 9	7 5
Other current receivables	19 0	29 8
Cash and cash equivalents	164 3	95 0
Currents assets	872 0	916 0
Total	1 589 2 ,	1 624 0 ,

Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition

Balance sheet – Total equity and liabilities

As of, €m

31

31

	Dec 31 2024 ,	Jun 30 2025 ,
Share capital (subscribed capital in previous year)	100 0	100 0
Capital reserves	172 7	173 1
Retained earnings	134 9	124 0
Cumulative other comprehensive income	33 3	12 2
Equity attributable shareholders of RENK Group AG to	440 9	409 3
Equity attributable non-controlling interests to	8 5	4 6
of which non-controlling interests in consolidated income for the net year	1 4	0 2
Equity	446 7	413 8
Non-current financial liabilities	527 2	527 1
Pension provisions	2 7	2 8
Deferred tax liabilities	77 2	73 1
Contract liabilities , non-current	39 0	106 7
Other non-current provisions	12 1	12 2
Other financial liabilities non-current	5 7	8 5
Other liabilities non-current	0 0	0 6
Non-current liabilities and provisions	663 9	728 2
Current financial liabilities	6 4	6 3
Income tax liabilities	30 8	35 9
Trade payables	117 0	138 0
Contract liabilities , current	231 4	198 4
Other current provisions	40 0	44 6
Other financial current liabilities	2 0	3 7
Other liabilities current	51 1	1 55
Current liabilities and provisions	478 6	482 1
Total	1 589 2 ,	1 624 0 ,

Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition

Cash flow statement

For the period, €m

	H1 2024	H1 2025
Cash and cash equivalents at beginning of period	102.2	164.3
Profit / loss before (including income attributable non-controlling interests) tax to	20.2	31.0
Income taxes paid	(9.8)	(11.0)
Depreciation, amortization and impairment losses on intangible assets and property, plant and equipment	37.8	38.4
Change in provisions for pension obligations	(0.1)	4.0
from Result asset disposals	(0.0)	–
Other non-cash expenses and income	0.7	(0.4)
Change in inventories	(33.8)	(47.6)
Change in other assets	(4.0)	(61.8)
Change in liabilities	18.0	49.8
Change in other provisions	(5.4)	5.0
Financial Result	15.4	28.3
Change in other provisions	(5.4)	5.0
Payment to acquire property, plant and equipment and intangible assets	(12.9)	(10.7)
Proceeds from asset disposals	0.1	0.4
for of Payments the acquisition subsidiaries or other business units less acquired cash and cash equivalents	–	(29.7)
Cash flows from restricted cash	4.1	(2.2)
Interest received	1.0	0.9
Cash flow from investing activities	(7.7)	(41.5)
from of Payment the redemption bonds	(520.0)	–
Proceeds from the raising of loan liabilities	514.8	–
Payment of dividends shareholders of RENK Group AG to	–	(42.0)
of Payment dividends to non-controlling companies	–	(0.7)
Equity contributions	2.8	–
Change in cash-pool liabilities	(2.6)	–
Lease payments	(1.4)	(1.5)
Interest payments	(34.6)	(14.4)
Cash flows from financing activities	(41.0)	(58.6)
Effect of exchange changes on cash and cash equivalents rate	0.3	(5.0)
Change scope of in cash and cash equivalents due to changes in the consolidation	1.0	–
Change in cash and cash equivalents	(8.4)	(69.3)
Cash and cash equivalents end of period at	93.8	95.0
Restricted cash	2.3	3.4
Gross liquidity at end of period	96.1	98.5
Financial liabilities (net of cash-pool liabilities)	(536.3)	(533.4)
of Net liquidity at end period	(440.1)	(434.9)

Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition

32

Adjustments

For the period, €m

	H1 2024	H1 2025
Operating profit	35.6	59.3
1 PPA depreciation and amortization as well as income / losses from PPA asset disposals	22.1	22.2
Operating profit before PPA depreciation and amortization as well as income / losses from PPA asset disposals	57.7	81.5
M&A activity related costs 2	0.5	1.3
Capital market readiness costs	1.6	0.0
Costs for implementing efficiency programs	5.7	0.0
Implementation new tax compliance	0.4	0.2
Other adjustments	0.9	2.5
Adj. EBIT	69.0	89.2
Depreciation, amortization and impairment losses (excluding PPA depreciation and amortization)	15.7	15.6
Adj. EBITDA	84.6	104.8

Endnotes (1/2)

p.7

(1) Defined as total order backlog as of June-25 / LTM revenue for the period ended June 30, 2025. Total order backlog comprised of fixed order backlog, frame order backlog and soft order backlog

(2) Fixed order backlog represents with respect to binding customer contracts and purchase orders concluded and/or received the portion of the associated transaction price for which the amount of revenue has not yet been recognized in accordance with IFRS

(3) Frame order backlog includes signed frame contracts with fixed annual volumes or volume estimates based on customer information or historical call offs over the entire contract duration, booked for the period of the frame contract term. The numbers as of June 30 include a contract with the character of a binding follow-up contract with the amount of €0.5bn

(4) Soft order backlog includes estimated volumes of sole source projects and successor business until 2029 based on public information and customer information for the period July 2025 to June 2029

p.9

(1) Book-to-bill ratio defined as order intake / revenue

(2) Fixed order backlog represents with respect to binding customer contracts and purchase orders concluded and/or received the portion of the associated transaction price for which the amount of revenue has not yet been recognized in accordance with IFRS

p.10

(1) Adjusted gross profit is defined as gross profit before PPA depreciation and certain items which management considers to be exceptional or non-recurring in nature. Adj. Gross Profit margin is defined as adjusted gross profit divided by revenue.

(2) Adj. EBIT is defined as operating profit before the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. Adj. EBIT margin is defined as adj. EBIT divided by revenue.

(3) Net debt is defined as the sum of bank debt (previous year: senior secured notes) and lease liabilities less cash and cash equivalents based on the carrying amounts in the IFRS financial statements

(4) LTM Adj. EBITDA is defined as operating profit before depreciation, amortization and impairment losses on intangible assets and property, plant and equipment, the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. For a detailed breakdown of adjustments, please refer to the page "Adjustments" in the appendix.

p.11-13

(1) Adj. EBIT is defined as operating profit before the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. Adj. EBIT margin is defined as adj. EBIT divided by revenue. For a detailed breakdown of adjustments, please refer to the page "Adjustments" in the appendix.

p.15

(1) Comprises contract assets and trade receivables excluding customer prepayment receivables

(2) Comprises contract liabilities excluding liabilities from customer prepayment receivables

Endnotes (2/2)

p.16

(1) Adj. EBITDA is defined as operating profit before depreciation, amortization and impairment losses on intangible assets and property, plant and equipment, the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature

(2) For a detailed breakdown of adjustments, please refer to the page "Adjustments" in the appendix.

(3) Includes change in inventories, customer receivables, trade payables and prepayments received.

(4) Capex defined as payments to acquire property, plant and equipment and intangible assets

(5) Other reconciliation items include changes in provisions, other receivables and liabilities, unless as these are not attributable to the NWC, as well as other cash and non-cash expenses and income of minor importance.

P.18

(1) Adj. EBIT is defined as operating profit before the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. Adj. EBIT margin is defined as adj. EBIT divided by revenue. For a detailed breakdown of adjustments, please refer to the page "Adjustments" in the appendix.

p. 20

(1) As of today; volumes to be further validated until RENK CMD (20 November 2025)