Stabilus SE

Investor Presentation • Dec 2, 2014

Full-year results 2014

Disclaimer

Stabilus S.A. (the "Company", later "Stabilus") has prepared this presentation solely for your information. It should not be treated as giving investment advice. Neither the Company, nor any of its directors, officers, employees, direct or indirect shareholders and advisors nor any other person shall have any liability whatsoever for any direct or indirect losses arising from any use of this presentation.

While the Company has taken all reasonable care to ensure that the facts stated in this presentation are accurate and that the opinions contained in it are fair and reasonable, this presentation is selective in nature. Any opinions expressed in this presentation are subject to change without notice and neither the Company nor any other person is under any obligation to update or keep current the information contained in this presentation. Where this presentation quotes any information or statistics from any external source, you should not interpret that the Company has adopted or endorsed such information or statistics as being accurate. This presentation contains forward-looking statements, which involve risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. These statements reflect the Company's current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "intend", "plan", "project" and "target". No obligation is assumed to update any such statement.

Stabilus participants

1.	FY2014 highlights
2.	Business by geography
3.	Business by market
4.	Outlook
5.	Appendix

Full-year results 2014

1. FY2014 highlights 1.

Highlights FY2014

Fiscal year-end September

Revenue	• Revenue up by 10.3% to €507.3mm (+€47.2mm vs. FY13) • Growth in all regions with NAFTA (+12.0%), Europe (+9.3%), Asia / RoW (+9.7%) − China standalone up by ~22% to €33.6mm • Powerise up by ~55% to €85.8mm
Adj. EBITDA	• Adj. EBITDA up by 6.2% to €92.5mm (+€5.4mm vs. FY13) • Adj. EBITDA margin of 18.2%
Adj. EBIT	• Adj. EBIT up by 10.2% to €65.1mm (+€6.0mm vs. FY13) • Adj. EBIT margin of 12.8%
Net debt	• Net financial debt at €229mm • Net debt/EBITDA of 2.46x
Outlook	• €550–560mm revenue • EBITDA and EBIT margins in line with historic results • Refinancing of senior secured notes in June 2015 expected to deliver annualized cash interest savings of ~€13mm − Signed commitment letter with agreed term sheet

Operational achievements in FY2014

• Penetration of mass market platforms in Europe (e.g. VW Passat and Ford Mondeo) Powerise • 29 active models, thereof 12 launches in 2014 and 20 contracted launches for 2015 (10 in Europe and 10 in NAFTA respectively) • Key business wins of major platforms from key customers worldwide • Capacity expanded to 15mm gas springs (+6mm vs FY13) • China Industrial sales force expansion, setting up of local Industrial business application R&D team • Dedicated facility for Industrial Gas Springs and Powerise under construction • NAFTA: Footprint reorganization finalized • Production Europe: Continuous optimization including shift of 60 production jobs from Germany to Romania • Powerise: Ongoing ramp-up in Romania; supplying key brands like Audi, BMW, Ford, Porsche and VW • Further cascade of refined strategies and targets for the overall organization		• Revenue up by €31mm to €86mm
	STAR	• Select STAR strategies for business units and regional improvements
• New product innovations prove first results

Stabilus strong operating performance in FY2014 (y-o-y)

Note: Stabilus fiscal year-end is September;

¹ Adj. EBIT/ EBITDA represents EBIT/ EBITDA, as adjusted by management primarily in relation to advisory fees, IPO related costs, restructuring / ramp-up costs and pension interest and excluding PPA

²Simplified definition of FCF differs to more detailed presentation in annual results

Revenue and adj. EBITDA growth – by region (y-o-y)

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

¹ Billed-from view

² Adj. EBITDA represents EBITDA, as adjusted by management primarily in relation to advisory fees, IPO related costs, restructuring / ramp-up costs and pension interest

Review of revenue performance by quarter

Note: Stabilus fiscal year-end is September; Financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

Review of adj. EBITDA development by quarter

Note: Stabilus fiscal year-end is September; Financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers ¹ Adj. EBITDA represents EBITDA, as adjusted by management primarily in relation to advisory fees, IPO related costs, restructuring / ramp-up costs and pension interest

Review of adj. EBIT development by quarter

Note: Stabilus fiscal year-end is September; Financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers ¹ Adj. EBIT represents EBIT, as adjusted by management primarily in relation to advisory fees, IPO related costs, restructuring / ramp-up costs and pension interest and excluding PPA

3.

1.

4.

5.

Full-year results 2014

2. Business by geography

NAFTA – Revenue growth (y-o-y)

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

Asia/RoW – Revenue growth (y-o-y)

• Strong revenue growth of +9.7% in FY14 driven by automotive Gas Springs
• − China growth of +21.7% to €33.6mm revenue
• − Brazil negative growth of -22.4% (€2.3mm reduction)
• Contract wins with local Chinese OEMs confirm growth potential and increasing market share
• Ongoing expansion of local production capabilities
• − Rental agreement for new Powerise and Industrial production facility signed and building under construction
• − Asia FY14 capex of €6.0mm (9.5% of revenue)
• − China Gas Spring capacity increased from 9mm p.a. to 15mm p.a.
• − Korean powder paint equipment recently commissioned; planned to be operational in mid FY15

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

China Gas spring production expansion – Construction of new building for Powerise and Industrial in China

Europe – Revenue growth (y-o-y)

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

Full-year results 2014

Revenue growth – by business (y-o-y)

based on actual numbers; ¹Industrial including Swivel Chair revenue

Revenue growth – Automotive business (y-o-y)

Source: Company information

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

¹ Based on 12 months ending September 2014 vs. September 2013

Revenue growth – Industrial business (y-o-y)

Source: Global Insight, company information

Note: Stabilus fiscal year-end is September; Detailed segmental financials reflected in the FY14 report have been rounded for presentational reasons; Growth rates based on actual numbers

¹ y-o-y real GDP 2014 annual forecast

New product launches

Drop gate damper improves quality appearance Dampening of solar panel movements

Supporting comfort needs Height adjustable mattress eases service in hotels

Full-year results 2014

Strategic priorities for FY 2015

Asia	• Further implement and expand Asia growth plan • Fully establish and expand local production and sales force capabilities • Expand local business in Powerise and Industrial
Powerise	• Further capitalize on extremely strong end-market momentum • Winning key platforms and driving market share • Production footprint optimization towards mass production
Industrial	• Focus on product and application innovation • Transfer of Powerise solutions into industrial applications

Potential refinancing of senior secured notes

Description of senior secured notes and impacts from refinancing

• Refinancing of senior secured notes
• Today's total outstanding, pre interest, of €257mm
• Interest rate of 7.75% fixed until June 2018
• Early redemption fee from June 2015 to June 2016 of 3.875%
• New Financing opportunity
• Euribor +2.5% margin (initial)
• 5 + 1 year duration
• Annualized cash interest savings of ~€13mm starting June 2015
• Bank fee, implementation and early redemption cost on current financing of ~€15mm
• Status quo

Status quo

Refinancing

• Signed commitment letter with agreed term sheet

24

Q&A

Financial calendar

December 15, 2014	• Publication of full year results for fiscal year 2014 (Annual Report 2014)
February 18, 2015	• Annual General Meeting for fiscal year 2014

Investor Relations Andreas Schröder Phone: +352 286 770 21 E-Mail: investors@stabilus.com

For further information please visit: www.stabilus.de/investor-relations

Full-year results 2014

P&L overview

P&L (€mm)
				2013 Actual
Revenue				460
COGS				(350)
Gross Profit				110
R&D				(18)
S&M				(39)
G&A				(21)
Other income/expenses				3
Adjustments				24
Adj. EBIT				59
Depreciation & amortization (exc. PPA)				28
Adj. EBITDA				87
Advisory1	6	18
Restructuring / Ramp-up	4	2
Pension interest add-back	1	1
PPA adjustments	13	13
Total Adjustments	24	34

1 Includes IPO, legal bond issuance, tax audit and reorganization related advisory expenses

Balance sheet overview

Balance sheet (€mm)
	2013 Actual	2014 Actual
Property, plant and equipment	116	120
Goodwill	51	51
Other intangible assets	176	171
Inventories	46	50
Trade receivables	68	56
Other assets1	110	39
Cash	22	33
Total assets	589	520
Equity incl. minorities	80	76
Debt (incl. accrued interest)	319	262
EUSIs2	3	0
Pension plans and similar obligations	39	48
Deferred tax liabilities	58	44
Trade accounts payable	45	54
Other liabilities	44	36
Total equity and liabilities	589	520
Net financial debt3	298	229
Net financial debt / adj. EBITDA LTM	3.41x	2.46x

1 Includes a €80mm face value upstream shareholder loan, extinguished as part of the IPO reorganization

²EUSIs were extinguished during the reorganization prior to the IPO and are no longer recognized on the company's balance sheet

³ Excluding EUSIs of €3.3mm as of September 2013

Cash flow statement overview

Cash flow statement (€mm)
	2013 Actual	2014 Actual
Adj. EBITDA1	87	93
Capital expenditures	(34)	(36)
Change in working capital	(3)	17
Change in other assets and liabilities, provisions etc.	(6)	7
Adjusted operating cash flow before tax	44	81
Net payments for redemption of financial liabilities	(71)	(62)
Cash interest incl. make whole premium on June 2014 repayment	(9)	(30)
Cash taxes	(6)	(7)
Others (incl. restricted cash1)	34	51
Adjustments to EBITDA2	(11)	(21)
Free cash flow	(19)	11

¹ Restricted cash in 2014 at €0.0mm

2 Includes IPO, legal, bond issuance, tax audit and reorganization related advisory expenses

Review of revenue performance by quarter

NAFTA – Review of revenue performance by quarter

Asia/RoW – Review of revenue performance by quarter

Europe – Review of revenue performance by quarter