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A leading European motorcycle group Investor presentation | March 2025
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This document is for information purposes only and shall not be treated as giving any investment advice and/or recommendation whatsoever. This presentation and any information (written or oral) provided to you does not constitute an offer of securities, nor a solicitation for an offer of securities, nor a prospectus or advertisement or a marketing or sales activity for such securities. This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. The shares of PIERER Mobility AG (the “Company”) have not been registered under the U.S. Securities Act of 1933 (the “Securities Act”) nor in Canada, U.K. or Japan. No securities may be offered or sold in the United States or in any other jurisdiction, which requires registration or qualification. These materials must not be copied or otherwise distributed to “U.S. persons” (according to the definition under Regulation S of the Securities Act as amended from time to time) or publications with general circulation in the United States. The circulation of this document may be restricted or prohibited in certain jurisdictions. For the United Kingdom: This presentation and related material (these “Materials”) are for distribution only to persons who are members of PIERER Mobility AG falling within Article 43(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”) or who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Promotion Order), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). These Materials are directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which these Materials relate is available only to relevant persons and will be engaged in only with relevant persons. Certain statements contained herein may be statements of future expectations and other forward-looking statements, which are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, words such as “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions typically identify forward-looking statements. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As such, no forward-looking statement can be guaranteed. Undue reliance should not be placed on these forward-looking statements. Many factors could cause our results of operations, financial condition, liquidity, and the development of the industries in which we compete, to differ materially from those expressed or implied by the forward-looking statements contained herein. Subject to applicable securities law requirements, we disclaim any intention or obligation to update or revise any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise. We have exercised utmost diligence in the preparation of this presentation. However, rounding, transmission, printing, and typographical errors cannot be ruled out. We are not responsible or liable for any omissions, errors or subsequent changes which have not been reflected herein and we accept no liability whatsoever for any loss or damage howsoever arising from any use of this document or its content or third-party data or otherwise arising in connection therewith. The contents of this presentation are confidential and may not be copied, distributed, published or reproduced in whole or in part, or disclosed or distributed by recipients to any other person. In receiving any information relating to the Company and its group, including information in this presentation, you will be deemed to have represented and agreed for the benefit of the Company (i) that you will only use such information for the purposes of discussions with the Company, (ii) to hold such information in strict confidence and not to disclose it (or any discussions with the Company) to any person, except as may be required by law, regulation or court order, (iii) not to reproduce or distribute, in whole or in part, (directly or indirectly) any information, (iv) that you are permitted, in accordance with all applicable laws, to receive such information, and (v) that you are solely responsible for your own assessment of the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own review of the potential future performance of the Company's business. In this presentation, stands for KTM AG, which, as the owner of the KTM brand, manufactures and/or distributes motorbikes and motorbike accessories under this brand. To be distinguished from this is KTM Fahrrad GmbH, which, as the exclusive licensee, manufactures and/or sells bicycles and bicycle accessories under the KTM brand. KTM AG and KTM Fahrrad GmbH are neither affiliated with each other under corporate law nor intertwined with each other in terms of capital or otherwise. Consequently, PIERER Mobility Group, does not produce or distribute bicycles and bicycle accessories under the KTM brand but under brands such as Husqvarna, GASGAS or Felt. INVESTOR PRESENTATION | March 2025 2
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INVESTOR PRESENTATION | March 2025 • A leading European motorcycle group • World leader in the offroad segment • Focus on the premium segment • > 510 World Champion titles and numerous racing successes • Main production site in Austria • Strong global partners: Bajaj Group (India), CFMOTO (China) 3 PIERER Mobility at a glance Automotive | Sports | Leisure Preliminary KPIs for the 2024 financial year € 1.9 billion (-29%) Revenue 292,497 (-21%) Motorcycles sold € -300 million EBITDA (before necessary allowances as part of the restructuring process; rounded number)
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Investor presentation | April 2024 4
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INVESTOR PRESENTATION | March 2025 Executive Board Gottfried Neumeister, CEO (1977) Appointed 09/2024 – 08/2026 Executive Board member at Pierer Industrie AG and at Niki Lauda Private Trust Areas of responsibility: Global sales, marketing, PG&A, customer service, brand management, finance & tax, risk management, corporate communication, investor relations, sustainability, legal, joint ventures 5 Stefan Pierer, Co-CEO (1956) Appointed 06/2015 – 12/2025, member of the KTM Executive Board since 1992 Supervisory Board member of Mercedes-Benz Group AG Sole shareholder and Chairman of the Executive Board of Pierer Industrie AG Areas of responsibility: Strategy, R&D, product management, operations, quality management, supply chain management, purchasing, IT, sustainability, human resources, real estate, motorsports, X-Bow
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INVESTOR PRESENTATION | March 2025 6 KTM AG agreed restructuring plan with creditors • KTM AG is the major subsidiary of PIERER Mobility. • With total liabilities > € 2 billion, KTM AG and two subsidiaries filed for “restructuring proceedings with self administration” on Nov 29, 2024. • On February 25, 2025, a mutually binding agreement was reached with the creditors in court: 30% cash quota, payable by May 23, 2025. Upon payment of this cash quota, all liabilities are fully settled.
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INVESTOR PRESENTATION | March 2025 Need to raise fresh capital 7 • Approx. € 800 million in fresh capital needed, in particular − for the cash quota − for the ramp up of the production (which was halted on December 13, 2024) − for the costs of the restructuring proceedings − for general business needs • Structure still to be defined: − Equity/debt/hybrid − At the level of PIERER Mobility AG or KTM AG level or at the level of a subsidiary • Citigroup appointed to support the process in a structured, transparent and efficient manner in the interest of all stakeholders • Interest of strategic and financial investors • Ongoing discussions with the investors who have submitted offers
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INVESTOR PRESENTATION | March 2025 Measures implemented 8 • Reduction of production volume and headcount in Austria − Production volume in Austria reduced by approx. ⅓ to around 150,000 motorcycles − Reduction of approx. 1,800 employees in 2024 and beginning of 2025 • Production halt to reduce stock levels (Dec 13, 2024 – March 17, 2025) − Ramp up will take up to 3 months − 4 production lines, one shift • Agreement to sell majority stake in MV Agusta − The transaction is expected to be finalized in the first half of 2025. • Decision to wind down the e-bicycle business − Production ceased, sale of stock of Husqvarna and GASGAS e-bicycles
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INVESTOR PRESENTATION | March 2025 Motorcycle brand positioning Racing brand Extreme performance Purity | Performance | Adventure | Extreme Pioneering brand Smart performance Smart | Progressive | Dynamic | Pure Design Vibrant playful brand Inviting performance Daring | Capable | Vibrant | Inviting 9 Luxury brand Exclusive performance package Exclusivity | Intensity | Craftmanship | Excellence To be sold in H1 2025
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INVESTOR PRESENTATION | March 2025 Motorcycle unit sales 10 Per brand KTM 73% Husqvarna 17% GASGAS 6% MV Agusta & CFMOTO 3% Europe 38% North America 24% Asia 25% Other 13%Regional split Europe 37% North America 26% Asia 24% Other 13% 2024 2023 KTM -23% Husqvarna -22% GASGAS -31% MV Agusta CFMOTO +130% Europe -19% North America -27% Asia -17% Other -25% 359,123 372,511 292,497 ,0 100,000 200,000 300,000 400,000 2022 2023 2024 KTM Husqvarna GASGAS MV Agusta & CFMOTO
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INVESTOR PRESENTATION | March 2025 Motorcycles unit sales Historical development (excl. Skutta and E-Balance Bikes) 11
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INVESTOR PRESENTATION | March 2025 Strong global partners Strategic partnership with Bajaj Group, India • Partnership since 2007 • Shareholder: Bajaj Auto/Pierer Industrie JV holds ~75% of PIERER Mobility shares • Supplier: − Joint developmentof entry-level (125 to 390cc) street motorcycles − Bajaj, as a supplier, produces KTM and Husqvarna motorcycles for the global market • Bajaj sells KTM and Husquvarna motorcycles in India & Indonesia, PIERER Mobility receives royalties (revenue line) 12
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INVESTOR PRESENTATION | March 2025 Strong global partners Joint venture with CFMOTO, China • JV established in 2018: 49% PIERER Mobility, 51% CFMOTO • Production hub for KTM middle-class models (790 to 950cc) for global distribution • Sole distributor for KTM in China • PIERER Mobility has taken-over the distribution for CFMOTO Motorcycles in Europe in H1 2023; setup of a dedicated dealer network in Europe in two steps starting with AT, DE, CH, ES, GB • Strengthening cooperation in the areas of product strategy, development as well as industrialization – incl. model planning and the joint development of engines and vehicles • The JV’s aliquot results are reported in “Earnings from at-equity holdings” 13
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INVESTOR PRESENTATION | March 2025 Global motorcycle production and assembly network Colombia Cartagena (CKD) Brazil Manaus (CKD) Argentina Buenos Aires (CKD) Philippines Laguna (JV – CBU/CKD) Austria, Mattighofen (HQ) ~150k units in 2024 Spain, Terrassa (GASGAS) ~6k units in 2024 China, Hangzhou (CFMOTO, JV) ~38k units in 2024 India, Pune (BAJAJ) ~120k units in 2024 Motorcycle production Motorcycle assembly: CBU/ CKD CBU - Completely Built Up CKD - Completely Knocked Down Own site JV 14 Italy, Varese (MV Agusta) ~3k units in 2024
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INVESTOR PRESENTATION | March 2025 96 69 143 171 76 6% 5% 7% 7% 3% 2019 2020 2021 2022 2023 Net margin EBITDA (€ million) Free cash flow (€ million) Revenue (€ million) 15 Result for the period (€ million) 241 234 332 381 324 16% 15% 16% 16% 12% 2019 2020 2021 2022 2023 EBITDA margin 71 90 68 -19 -369 92 166 172 -3 -413 2019 2020 2021 2022 2023 Increase (-)/decrease (+) net current assets Multi-year financial performance Special boom during Covid 1,520 1,530 2,042 2,437 2,661 2019 2020 2021 2022 2023
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INVESTOR PRESENTATION | March 2025 Shareholder structure (February 28, 2025) 16 Share characteristics • PIERER Mobility is an Austrian „Aktiengesellschaft“ (public listed company) • 33,796,535 bearer shares • No shares with special control rights • One share one vote >74.9% 50.1% 49.9% 100% 0.1% Free float <25.0% Pierer Industrie AG Pierer Bajaj AG Bajaj Auto International Holdings B.V. Pierer Konzerngesellschaft mbH Bajaj Auto Limited 100%
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INVESTOR PRESENTATION | March 2025 17 The share Share price development (last 12 months, indexed) 17 Ticker symbol ISIN Bloomberg Reuters PKTM AT0000KTMI02 PKTM SW / PKTM AV (Vienna) PKTM.S / PKTM.VI (Vienna) Pirmary listing SIX Swiss Exchange (since 11/2016) Additional listing Vienna Stock Exchange, prime market (since 03/2022) Research coverage (per Feb 28, 2025) Broker Recommendation Price target Jefferies Hold CHF 28 Research Partners Buy CHF 38 Dividend history Year DPS (paid) EPS (in reference year) Payout ratio 2024 €0.50 €2.37 21.1% 2023 €2.00 €5.03 39.8% 2022 €1.00 €3.34 29.9% 2021 €0.50 €1.56 32.1%
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INVESTOR PRESENTATION | March 2025 1934 THE BEGINNING Hans Trunkenpolz founds a metal and car workshop. 1953 START OF INDUSTIRAL PRODUCTION OF MOTORCYCLES Name: Kronreif – Trunkenpolz – Mattighofen 1992 A NEW START After the insolvency and split-up of KTM, Stefan Pierer and his “Cross Industries” take over the KTM motorcycles business. 1994 THE DUKE – TAKING IT TO THE STREETS Based on the Enduro model, KTM unleashes the 620 DUKE. 2001 FIRST DAKAR RALLY VICTORY KTM wins the rally from 2001-2019 and again in 2023 and 2025. GASGAS won in 2022. 2003 A NEW ADVENTURE – TRAVEL ENDURO Arrival of KTM’s first multi-cylinder contender, 950 ADVENTURE. 2007 COOPERATION WITH BAJAJ GROUP Focus on the joint development of entry-level street motorcycles. 18
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INVESTOR PRESENTATION | March 2025 2014 HUSQVARNA MOTORCYCLES Acquisition of the Husqvarna license and reunion with Husaberg. Relaunch as “Husqvarna Motorcycles”. 2015 KTM GOES ELECTRIC Release of the innovative KTM Freeride E-SX, E-XC, E-SM. 2016 MOTOGPTM DEBUT First presence at the Red Bull Ring in Spielberg. LISTING OF PIERER MOBILITY SHARES in CH Today, PIERER Mobility shares are also listed in the prime markets segment at the Vienna Stock Exchange. 2018 HUSQVARNA MOTORCYCLES GOES ELECTRIC Launch of the EE 5 electric mini MX racer. Husqvarna E-Bicycles launches its first portfolio. 2019 HUSQVARNA – A TOTAL OF 100 WORLD TITLES 59 years after the first world championship success, Husqvarna counts 58 rider and 42 manufacturer titles. 2020 STRENGTHENED COOPERATION WITH CFMOTO The new mid-class series are built in the new factory of the JV in Hangzhou. From there, the Chinese and global markets are catered. GASGAS GASGAS joins PIERER Mobility as the third brand in the offroad segment (trial segment). FIRST MOTO GPTM VICTORY FOR KTM Brad Binder wins the race in Brno, Czechia. 19
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Investor Relations Mr Hans Lang Ms Melinda Busáné Bellér ir@pierermobility.com +43 (1) 533 1 433 - 70 PIERER Mobility AG Edisonstrasse 1 4600 Wels Austria www.pierermobility.com +43 (1) 533 1 433 - 70