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81 10 lochpe - Maxion 2Q26 Earnings MAXION August 06 , 2026 MYPK ISE B3 B3 LISTED NM IDIVERSA B3 ICO2 B3 ADR : IOCJY
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2Q26 Executive Overview 2 • Resilient performance − Disciplined execution of cost savings − North America recovery supported by improving CV demand and strong aluminum wheel performance • Financial discipline and shareholder focus − Solid liquidity and lower net debt reinforce financial flexibility and mid/long-term shareholder value creation • Key growth drivers − India remains a key growth engine, in all segments, fueled by volume expansion and new launches − Brazil LV is strong, NA truck trending upwards LV: light vehicles CV: commercial vehicles
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Market – Global Vehicle Production 93 91 92 93 95 97 98 2026 2027 2028 2029 2030 20312025 -2% +1% +1% +2% +2% +1% Light Vehicles¹ (Unit in millions) Global production ex-China - var. Source: ¹ S&P Global – July2026 ² Global Data 2Q26 3 +1%-2% +2% +2% +2%+1% 3.464 3.608 3.709 3.982 4.137 4.061 4.060 2026 2027 2028 2029 2030 20312025 +4% +3% +7% +4% -2% 0% Commercial Vehicles² (Unit in thousands) 0%+4% +8% +7% +2%-6%+1% 0%
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2Q26 Highlights ¹ Net debt/EBITDA for the last 12 months Leverage¹ 2.49x in 1Q26 2.38x in 2Q25 2.52x compared to 4 EBITDA 10.4% with a margin of R$ 417.5 million Net Revenue R$ 4.0 billion Gross Profit 12.1% with a margin of R$ 485.5 million Sustained revenue levels despite FX headwinds and softer CV demand in Brazil, supported by LV strength in South America and Asia. Resilient profitability despite gross margin pressure, supported by disciplined cost and expense control. Solid margin but still some lower fixed-cost absorption (North America) and temporary raw material pass-through timing effects. Net debt decreased quarter-over-quarter, while leverage remained broadly stable at 2.52x, supported by solid liquidity and disciplined financial management. LV: light vehicles CV: commercial vehicles
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Revenue by Product 5 34% 36% 33% 36% 20% 20% 20% 20% 25% 24% 25% 24% 18% 17% 19% 17% 3% 2Q25 3% 2Q26 Structural Components LV Structural Components CV Steel Wheels LV Steel Wheels CV Aluminum Wheels LV 1H25 1H26 3% 3% LV: light vehicles CV: commercial vehicles Growth in LV products and aluminum wheels helped offset (still) softer CV demand, reinforcing the resilience of Maxion's diversified portfolio.
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6 Revenue by Customer 12.2% 10.0% 10.1% 8.7% 9.9% 8.4% 9.6% 10.0% 9.3% 9.9% 8.5% 4.0% 5.6% 4.5% 4.9% 4.6% 4.5% 3.9% 3.3% 11.7% 2.6% 2.7% 2.1% 1.8% 1.7% 1.3% 1.7% 1.6% 1.5% 1.3% 1.2% 1.0% 1.1% 0.9% 1.1% 2.6% 1.0% 8.3% 8.2% 2.6% 2Q25 2Q26 Customer 2Q25 2Q26 Top 1 12% 12% Top 5 49% 51% Top 10 76% 78% LV demand remained strong, while early signs of recovery in CV contributed to a more balanced revenue mix. Aftermarket Trailers Others LV: light vehicles CV: commercial vehicles
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7 Brazilian Market Performance¹ – Vehicles Produced (in thousands) 2Q25 2Q26 Var. Light vehicles 620 699 12.7% Commercial vehicles 43 39 -8.6% Share of Consolidated Net Operating Revenue – (%) 2Q25 AmericaOperational Performance South America ¹ Source: ANFAVEA and company estimates. Note: Financial information reported in Brazilian Reais (R$). + 8.8% Light vehicles - 15.5% Commercial vehicles Net Operating Revenue 2Q26 Strong LV demand supported revenue growth despite weaker CV markets in Brazil. R$ 1.1 billion 2Q26 4.6% vs 2Q25 LV: light vehicles CV: commercial vehicles
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8 Market Performance¹ – Vehicles Produced (in thousands) 2Q25 2Q26 Var. Light vehicles 3,955 3,948 -0.2% Commercial vehicles 126 119 -5.0% Share of Consolidated Net Operating Revenue – (%) 2Q25 AmericaOperational Performance North America ¹ Source: July 2026- S&P Global light vehicles, 2Q26 - Global Data commercial vehicles and company estimates. Note: Financial information reported in Brazilian Reais (R$). 2Q26 Net Operating Revenue - 1.8% light vehicles + 1.2% commercial vehicles Aluminum wheel performance and improving CV activity support profitability improvement. R$ 1.0 billion 2Q26 0.6% vs 2Q25 CV: commercial vehicles
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Market Performance² – Vehicles Produced (in thousands) 2Q25 2Q26 Var. Light vehicles 4,112 3,975 -3.3% Commercial vehicles 127 125 -1.6% Share of Consolidated Net Operating Revenue – (%) 2Q25 AmericaOperational Performance EMEA¹ 2Q26 - 8.8% light vehicles + 2.0% commercial vehicles Net Operating Revenue 9 CV gains offset softer European vehicle production environment. R$ 1.4 billion 2Q26 6.2% vs 2Q25 ¹ Europe, Middle East and Africa. ² Considers EU27 + UK + Türkiye. Source: July 2026- S&P Global light vehicles, 2Q26 - Global Data commercial vehicles and company estimates. Note: Financial information reported in Brazilian Reais (R$). CV: commercial vehicles
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Market Performance² – Vehicles Produced (in thousands) Share of Consolidated Net Operating Revenue – (%) 2Q25 AmericaOperational Performance Asia LV: light vehicles CV: commercial vehicles ² Source: July 2026- S&P Global light vehicles, 2Q26 - Global Data commercial vehicles and company estimates. Note: Financial information reported in Brazilian Reais (R$). 2Q26 2Q25 2Q26 Var. India – LV 1,414 1,643 16.2% India – CV 124 126 2.3% Thailand – LV 385 336 -12.8% Net Operating Revenue + 27.0% light vehicles + 11.7% commercial vehicles 10 India remains Maxion's key growth engine, supported by new launches and increasing markets. R$ 353 million 2Q26 22.3% vs 2Q25
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Gross Profit and Gross Margin (%) 11 535 486 978 927 13.0% 2Q25 12.1% 2Q26 12.2% 1H25 11.9% 1H26 -9.2% -5.2% Note: Financial information reported in Brazilian Reais (R$) millions. Margins impacted by lower CV volumes in in Americas CV: commercial vehicles
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EBITDA and EBITDA Margin (%) 12 450 418 805 775 11.0% 2Q25 10.4% 2Q26 10.0% 1H25 9.9% 1H26 -7.3% -3.8% Note: Restructuring costs amounted to R$ 5.3 million in 2Q26 compared to R$ 7.0 million in 2Q25, and an Impairment of R$ 3.3 million Financial information reported in Brazilian Reais (R$) millions. Disciplined cost management helped mitigate gross margin pressure and preserve profitability.
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Net Income 13 2.1% 2Q25 2.2% 2Q26 1.2% 1H25 1.2% 1H26 86,822 86,869 97,714 90,789 Note: Financial information reported in Brazilian Reais (R$) thousands.
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Investments 14 143 81 244 193 2Q25 2Q26 1H25 1H26 -43.4% -20.9% Capex in line with full year targets. Managing timing between 1H and 2H. Note: Financial information reported in Brazilian Reais (R$) millions.
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2.93 2.39 2.34 2.38 2.55 2.65 2.49 2.52 Leverage – Net Debt¹/ EBITDA 2023 2024 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26³ 3,675 1,253 3,637 1,524 3,661 1,562 3,867 1,679 3,932 1,625 3,959 1,493 3,719 1,496 3,685 1,459 Net Debt EBITDA LTM² Net Debt/ EBITDA ¹ Considers net debt + derivative financial instruments ² LTM : last 12 months ³ Includes approximately R$40 million of net debt related to Polimetal, which was not included in the consolidated balance in 4Q25 and 1Q26 15Note: Financial information reported in Brazilian Reais (R$) millions.
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Gross Debt 16 Composition 21% 46% 32% 6.3% 93.7% 2Q262Q25 1.868 191 424 3.299 807 665 168 760 Cash 2026 2027 2028 2029 2030 2.628 Maturity¹ (in millions) ¹Includes financial instruments ²The Company successfully completed the liability management initiatives Undrawn credit lines Dollar Reais Euro Other currencies Short term Long term 1% 95.3% 4.7% Term Note: Financial information reported in Brazilian Reais (R$) millions. 2031 to 2040 Average Debt Maturity: 3.1 years Average Debt Maturity: 4.0 years Maturity¹ Pro forma² (in millions) 1.961 212 424 1.313 807 2.723 168 760 Cash 2026 2027 2028 2029 2030 2.721 Undrawn credit lines 2031 to 2040
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Expansion strengthens our ability to meet the growing demand and better support our customers, while creating room for new business. Automation boosts competitiveness across the value chain, improving our cost position while supporting our customers' recoveries in the market. 17 NA Commercial Vehicles Production Forecast – CLASS 8 2026 2027 2028 2029 2030 20312025 +9,1% +9,7% +12,6% +4,8% -11,6% +5,9% Source: July 2026-ACT commercial vehicles and company estimates. Castaños, Mexico, Components Ready for North America truck growth
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Cruzeiro Structural Components Co-develop for new business ● Automation for increasing competitiveness ● Execution 2027-2028 New business and automation 18
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India Truck Capacity expansion to address already sold additional volume ● Execution in 2H26-1H27 Growing at the existing location in Pune 19
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India Light Vehicle Aluminum Capacity expansion to address already realized new business wins ● Growing shares in premium LV ● Execution in 2H26 – 1H27 Further expanding the new factory LV: light vehicles 20
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South Africa Light Vehicle Aluminum Many new product launches planned for next 18 months, capacity is in place ● Energy efficient heat treatment ● Solar energy for sustainability and stability New business and solar energy 21
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2Q26 Business Summary Disciplined execution, cost competitiveness and operational flexibility enabled Maxion to navigate dynamic market conditions GLOBAL RESILIENCE + DISCIPLINE REGIONAL MOMENTUM North America coming back, Maxion very well positioned South America LV strong and truck stabilizing, Maxion has momentum with LV customers Europe market challenging, Maxion Europe competitive Asia growing, Maxion Asia grows more VALUE CREATION Keeping strong liquidity, keeping cost discipline, targeting decent cash generation and lower net debt 22LV: light vehicles