UNO Minda Limited — Investor Presentation 2021

Dec 10, 2021

==> picture [303 x 168] intentionally omitted <==

Transaction Updates December 10, 2021

Transforming The Present, Reimagining The Future

Safe Harbor

==> picture [87 x 38] intentionally omitted <==

==> picture [960 x 24] intentionally omitted <==

This presentation and the accompanying slides (the “ Presentation”), has been prepared by Minda Industries Limited (the “ Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the auto ancillary industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

2/17

==> picture [218 x 540] intentionally omitted <==

Content

==> picture [23 x 18] intentionally omitted <==

Joint Venture with FRIWO Group

==> picture [17 x 14] intentionally omitted <==

FRIWO Group – Overview

==> picture [17 x 14] intentionally omitted <==

Transaction Overview

==> picture [17 x 13] intentionally omitted <==

Transaction Rationale

==> picture [17 x 14] intentionally omitted <==

EV product portfolio

==> picture [23 x 18] intentionally omitted <==

Technical License Agreement

==> picture [17 x 14] intentionally omitted <==

Temperature Controlled Seats: Dhama Innovations

==> picture [23 x 18] intentionally omitted <==

Alloy Wheel Capacity Enhancement

==> picture [17 x 13] intentionally omitted <==

4 Wheeler Alloy Wheels

==> picture [17 x 14] intentionally omitted <==

• 2 Wheeler Alloy Wheels

==> picture [87 x 38] intentionally omitted <==

3/17

==> picture [142 x 61] intentionally omitted <==

Joint Venture with FRIWO Forging New Alliances

FRIWO Group – Overview

==> picture [87 x 38] intentionally omitted <==

==> picture [960 x 24] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

FRIWO was founded in 1971 in Ostbevern, Germany and has been developing and producing digitally controllable power supply units and drive solutions ever since.

==> picture [17 x 13] intentionally omitted <==

==> picture [17 x 13] intentionally omitted <==

FRIWOs product portfolio includes smart components for electric drives as well as premium technological chargers, battery packs, power packs, and LED drivers. FRIWO has a sales of € ~100 MM and market cap of € ~270 MM. FRIWO has been serving customers through its product offerings across following four different business lines: a. E-mobility; c. Medical b. Industrial d. Tools

==> picture [17 x 14] intentionally omitted <==

FRIWO is present in all of the world’s key markets. They employ more than 2,500 people at our locations around the world.

==> picture [17 x 14] intentionally omitted <==

FRIWO have been certified to DIN ISO 9001 (Quality Management), DIN ISO 14001 (Environmental Management), and DIN ISO 13485 (Quality management for medical devices)

5/17

FRIWO Group – Global Footprint

==> picture [87 x 38] intentionally omitted <==

==> picture [906 x 421] intentionally omitted <==

6/17

Joint Venture with FRIWO: Transaction Overview

==> picture [87 x 38] intentionally omitted <==

==> picture [960 x 24] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

Minda Industries Ltd enters into a JV with FRIWO to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components for two and three wheelers in Indian Subcontinent. Minda Industries Ltd (“MIL”) will hold a majority stake of 50.1% in the joint venture entity.

==> picture [17 x 13] intentionally omitted <==

==> picture [17 x 13] intentionally omitted <==

JV Entity plans to incur capex ~ Rs 390 Crore over next 6 years for growth and expansion of business, the outlay in or more initial two years would be around Rs 160 Crore. MIL plans to invest Rs 71 Crores in one tranches as equity investment to partly fund the above expenditure. The remaining funding requirement will be funded through mix of internal accruals, equity and debt.

==> picture [17 x 13] intentionally omitted <==

As part of the transaction, The Board has also approved to invest Euro 15 Mn in FRIWO AG via a capital increase in order to strengthen the industrial partnership between the two groups. The proposed investment is subject to the regulatory approvals including Reserve Bank of India.

==> picture [17 x 14] intentionally omitted <==

Additionally the JV entity also plans to enter into a master contract manufacturing agreement with FRIWO to manufacture the agreed products not only for Indian markets, but for ASEAN and European markets as well.

7/17

Joint Venture Synergies

==> picture [87 x 38] intentionally omitted <==

EV Products

Products	UNO MINDA	FRIWO	UNO MINDA+ FRIWO
Battery Management System (BMS)			
DC-DC converter			
Acoustic Vehicle Alert System			
On Board Chargers			
Off Board Chargers			
Smart plug with RCD Cable			
Body Control Module (BCM)			
Motor Controllers			
Battery Packs			

==> picture [17 x 13] intentionally omitted <==

FRIWO has anchor customers in India for BMS and Off-board Chargers and same will be transferred in JV Entity

==> picture [17 x 13] intentionally omitted <==

UNO Minda will also transfer its existing business and orders for the above products in JV entity.

==> picture [17 x 13] intentionally omitted <==

The combined entity will offer full line e-drive solutions for electrical two-and three wheelers in the Indian subcontinent market, combining extremely robust hardware and an outstanding software architecture.

8/17

Transaction Rationale

==> picture [87 x 38] intentionally omitted <==

==> picture [960 x 24] intentionally omitted <==

==> picture [20 x 15] intentionally omitted <==

Strengthen EV product portfolio: Adding Battery Pack and off Board Chargers.

==> picture [20 x 15] intentionally omitted <==

Accelerate time to market : Accelerating the product development for Motor Controller

==> picture [20 x 15] intentionally omitted <==

Leverage the proven technology in power supply solutions of FRIWO

==> picture [20 x 15] intentionally omitted <==

FRIWO’s existing business from Indian OEMs brought into JV further validates technology and quality of their products

==> picture [20 x 15] intentionally omitted <==

Creating manufacturing hub with contract manufacturing of products for FRIWO to supply in European markets

==> picture [20 x 16] intentionally omitted <==

Access to Global Markets with contract manufacturing in India.

9/17

Uno Minda’s EV PRODUCT PORTFOLIO (2W & 3 W)

==> picture [109 x 90] intentionally omitted <==

Low Voltage EV Products (48V to 72V )

Smart Plug

==> picture [73 x 12] intentionally omitted <==

----- Start of picture text -----

RCD Cable
----- End of picture text -----

Body Control Module (BCM)

Battery Management System

==> picture [150 x 66] intentionally omitted <==

==> picture [110 x 74] intentionally omitted <==

Battery Pack

==> picture [65 x 106] intentionally omitted <==

Acoustic Vehicle Alert System

Off Board Charger

==> picture [87 x 38] intentionally omitted <==

On-Board Charger

==> picture [91 x 76] intentionally omitted <==

DC-DC Converter

==> picture [116 x 87] intentionally omitted <==

==> picture [83 x 13] intentionally omitted <==

----- Start of picture text -----

Telematics
----- End of picture text -----

==> picture [110 x 11] intentionally omitted <==

----- Start of picture text -----

Motor Controller
----- End of picture text -----

10/17

POTENTIAL EV KIT VALUE (2W)

==> picture [87 x 38] intentionally omitted <==

Values in INR

==> picture [651 x 284] intentionally omitted <==

----- Start of picture text -----

Existing
Positive
Product Product Product
Impact on Additional EV Kit Value
which can under Under
LED Lamps Products Potential
be fitted in Production Development
& Sensors
EV
----- End of picture text -----

Potential Kit value increased by Rs 28,000 with additional Products

11/17

==> picture [142 x 61] intentionally omitted <==

Technology Agreements Another Step towards Technological Leadership

Technology License Agreement (TLA) – Dhama Innovations

==> picture [87 x 38] intentionally omitted <==

==> picture [960 x 24] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

Dhama Innovations is pioneer in developing Temperature controlled solutions designed to address the problems of thermal stress. Dhama has numerous patents granted globally for its Temperature Controlled Solutions and has built range of products for sports, automotive, women healthcare, industrial and defence industries.

==> picture [17 x 13] intentionally omitted <==

Minda Industries Ltd (“MIL”) has entered into a TLA with Dhama Innovations for its Temperature Controlled Automotive Seats. Under this agreement, Dhama and MIL will launch series of Heating and Cooling seats for the Automobile Industry.

==> picture [17 x 14] intentionally omitted <==

While Dhama will leverage its globally patented ClimaCon technology (that can control temperature between 0[0] C to 60[0] C), Minda will leverage its recently acquired Seatings Business (Harita), strong OEM relationships and after-market reach to maximise the benefits from this agreement.

==> picture [17 x 14] intentionally omitted <==

This technology is targeted towards improving driver and passenger comfort, improve mental alertness while driving and improve driver health.

==> picture [17 x 13] intentionally omitted <==

Positively engaged with leading OEMS for supply this Temperature Controlled Automotive Seats

13/17

==> picture [142 x 61] intentionally omitted <==

Capacity Enhancement in Alloy Wheel

Continued Organic Growth…………

Capacity Enhancement – 4W Alloy Wheels (Minda Kosei)

==> picture [87 x 38] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

==> picture [17 x 13] intentionally omitted <==

The Board approved a capacity enhancement by 30,000 Wheels per month at Gujarat plant. Total capacity will get enhanced to 120,000 Wheels per month at Gujarat post project completion.

The wheels will be produced with Gravity Die Casting (GDC) process.

Expansion Project Snapshot

Particulars	Description
Addition in Capacity	30,000 Wheels per month
Capex to be incurred	Rs. 74 Cr
Debt-Equity Mix	50:50
Location	Gujarat Plant
SOP Date	Q1 FY24

==> picture [17 x 13] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

Rationale for expansion

==> picture [17 x 14] intentionally omitted <==

To serve additional demand from leading OEMs in vicinity 4W Alloy wheel penetration still low at around 35% providing ample opportunity for growth.

==> picture [17 x 14] intentionally omitted <==

This will be in addition to the ongoing capex of 60,000 wheels per month at Bawal Plant. Total capacity post ongoing capex will get enhanced to 180,000 wheels per month at Bawal, Haryana.

4W Alloy Wheel Capacity per month (In ‘000)

==> picture [345 x 187] intentionally omitted <==

----- Start of picture text -----

330
300
240
210
180 180
120
----- End of picture text -----

FY18A FY19A FY20A FY21A FY22E FY23E FY24E

15/17

Capacity Enhancement – 2W Alloy Wheels (AW2W)

==> picture [87 x 38] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

==> picture [17 x 13] intentionally omitted <==

==> picture [17 x 13] intentionally omitted <==

The Board approved a capacity enhancement project by 2.0 Mn wheels per annum

The at the current in is almost ongoing capex plant Supa complete with the completion of trial run of 4[th] (last) line and is expected to be operational by fourth quarter of FY22.

Post proposed expansion capacity will get enhanced to 5.6 Mn wheels per annum depending on weight of wheels.

Expansion Project Snapshot

Particulars	Description
Addition in Capacity	2.0 Mn Wheels p.a.
Capex to be incurred	Rs. 190 Cr
Debt-Equity Mix	50:50
Location	Supa, Maharashtra
SOP Date	Q4 FY23

==> picture [17 x 14] intentionally omitted <==

Rationale for expansion

==> picture [17 x 14] intentionally omitted <==

==> picture [17 x 14] intentionally omitted <==

To serve additional demand from leading OEMs in vicinity 2W Alloy wheel imports ~ 55%-60% provides opportunity for localisation

==> picture [17 x 14] intentionally omitted <==

Opportunity from rapidly growing Electric two wheelers which is primarily offering alloy wheels

16/17

17

For Further Information, please contact :

Thank You

Corporate Office

Address: Village Nawada Fatehpur, P.O. Sikanderpur Badda, Manesar, Gurgaon – 122004, India. Website: www.unominda.com Email ID : amodi@mindagroup.com

Company :

Minda Industries Ltd. Mr. Ankur Modi Head Treasury and Investor Relation amodi@mindagroup.com

Investor Relations Advisors :

Strategic Growth Advisors Pvt. Ltd.

Mr. Jigar Kavaiya Jigar.kavaiya@sgapl.net www.sgapl.net

Follow us on social media. Links below