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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com Q2 2025 RESULTS
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 2 ROB WILDEBOER EXECUTIVE CHAIRMAN
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 3 This presentation contains forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”), including, but not limited to, statements relating to the Company’s beliefs or views or expectations of, improvements in, expansion of and/or guidance or outlook as to: future revenue, sales, production sales, margin, gross margin, earnings, earnings per share, adjusted earnings per share, adjusted net earnings per share, operating income margins, operating margins, adjusted operating income margins, cash flo w, free cash flow, debt leverage, launch costs, operational improvements, capex, including outlook for 2025, and factors affecting the outlook and volumes; tariff and trade issues and any impact on the Company and industry; the Company’s strategy; as well as other forward-looking statements. The words “continue”, “expect”, “anticipate”, “estimate”, “may”, “will”, “intend”, “believe”, “plan” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Martinrea in light of its experience and its perception of historical trends, current conditions and expected future developments, as w ell as other factors that Martinrea believes are appropriate in the circumstances, such as expected sales and industry production estimates, current foreign exchan ge rates (FX), timing of product launches and operational improvements during the period and current Board approved budgets. These forward- looking statements are subject to risks, uncertainties and assumptions that may cause actual results, performance or achievements to differ materially from those expected or implied by the forward-looking statements. Factors that may cause such differences include, but are not limited to, the impact the North American and global economic and political conditions, including any impact as a result of government policy or actions, trade issues or agreements and tariffs, inflation; the highly cyclical nature of the automotive industry and the industry’s dependence on consumer spending and general economic conditions; Martinrea’s dependence on a limited number of significant customers; Martinrea’s reliance on critical suppliers for components and the risk that suppliers will not be able to supply components on a timely basis or in sufficient quantities; competition; the factors discussed under the headings “Industry Highlights” and “Trends and Risks and Uncertainties” in Martinrea’s most recent Management Discussion and Analysis and Annual Information Form filed with applicable securities commissions, as well as other risk factors identified therein, and other filed documents available at www.sedarplus.ca, and the documents incorporated by reference into such docum ents. These factors should be considered carefully, and readers should not place undue reliance on Martinrea’s forward-looking statements. If any of such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. We provide forward-looking statements solely for the purpose of providing information about management's current expectations and plans relating to the future. You are cautioned that such information may not be appropriate for other purposes. Except as re quired by law, we do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, assumptions or circumstances on which any such statement is based. The Company prepares its financial statements in accordance with IFRS Accounting Standards. However, the Com pany considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Company. These measures, which the Company believes a re widely used by investors, securities analysts and other interested parties in evaluating the Company's performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as alternatives to financial measures determined in accordance with IFRS. Non-IFRS measures, some of which are referenced in this presentation, include “Adjusted Net Income”, “Adjusted Net Earnings per Share” (on a basic and diluted basis), “Adjusted Operating Income”, “Adjusted Operating Income Mar gin”, “Adjusted EBITDA”, “Adjusted EBITDA Margin”, “Adjusted EPS”, “Adjusted Earnings Per Share”, “Free Cash Flow”, “Free Cash Flow (after IFRS 16 lease payments)”, and “Net Debt”. Please refer to the Company’s previously filed annual and interim management discussion and analyses of operating results and financial position for a full reconciliation of IFRS to non-IFRS measures. FORWARD-LOOKING STATEMENTS
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 4 PAT D’ERAMO CHIEF EXECUTIVE OFFICER FRED DI TOSTO PRESIDENT Q&A PETER CIRULIS CHIEF FINANCIAL OFFICER AGENDA ROB WILDEBOER EXECUTIVE CHAIRMAN
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 5 PAT D’ERAMO CHIEF EXECUTIVE OFFICER
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 6 $1,275.5M 1.50x $165.4M $1,199.2M $86.1M PRODUCTION SALES ADJUSTED OPERATING INCOME (6.8% MARGIN) TOTAL SALES ADJUSTED EBITDA (13.0% MARGIN) Q2 2025 HIGHLIGHTS NET DEBT TO ADJUSTED EBITDA (Excluding IFRS-16 Lease Liabilities)
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 7 MACHINE LEARNING AND AI
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 8 FRED DI TOSTO PRESIDENT
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 9 • We are executing very well, driving results through: – Operating improvements and efficiencies – Cost reductions – Investments in machine learning and other innovations • Solid results in North America with strong margins. • Operating profit in Europe, with results much improved from losses in Q1 and in particular Q4. • Operating profit in Rest of World segment. STATUS OF OPERATIONS
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 10 LIGHTWEIGHT STRUCTURES $18M In Annualized Sales 2026 - 2027 Start of Production FLEXIBLE MANUFACTURING GROUP $22M In Annualized Sales 2027 - 2028 Start of Production TOTAL AWARDS OVER LAST FOUR QUARTERS $175M In Annualized Sales NEW BUSINESS AWARDS
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 11 PETER CIRULIS CHIEF FINANCIAL OFFICER
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 12 In Canadian Dollars Q2 2025 Q2 2024 Production Sales $1,199.2M $1,263.7M Tooling Sales $76.3M $38.1M Total Sales $1,275.5M $1,301.8M Adjusted Operating Income $86.1M $81.6M Adjusted Operating Income % 6.8% 6.3% Adjusted EBITDA $165.4M $166.1M Adjusted EBITDA % 13.0% 12.8% Free Cash Flow $72.0M $51.7M Free Cash Flow (After IFRS-16 Lease Payments) $57.9M $38.3M Production sales were down approximately 5% year over year on lower vehicle production volumes. Adjusted Operating Income Margin was up 50 basis points year over year, reflecting operating improvements, lower SG&A, and lower depreciation. Free Cash Flow was strong and up year over year, largely reflecting a positive year-over-year change in non-cash working capital. YEAR-OVER-YEAR COMPARISON
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 13 1.41x 2.11x 3.11x 3.31x 3.21x 2.43x 1.95x 1.90x 1.71x 1.56x 1.40x 1.51x 1.49x 1.46x 1.47x 1.64x 1.50x 0.00x 0.50x 1.00x 1.50x 2.00x 2.50x 3.00x 3.50x 2019 2020 2021 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 $662.6 $682.4 $857.7 $908.7 $955.9 $937.4 $889.2 $782.4 $856.5 $852.1 $820.1 $813.5 $864.9 $792.4 $600.0 $700.0 $800.0 $900.0 $1,000.0 2019 2020 2021 2022 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 NET DEBT TO LTM ADJUSTED EBITDA NET DEBT - Excluding IFRS-16 ($ Millions) Q2 2025 net debt (excluding IFRS-16 lease liabilities) decreased by approximately $73 million compared to Q1 2025, reflecting strong Free Cash Flow generation during the quarter. Our Net Debt to Adjusted EBITDA ratio ended the quarter at 1.50x, down from 1.64x at the end of Q1 2025, and at our target of 1.50x or better. Decline reflects higher Adjusted EBITDA generation and lower net debt BALANCE SHEET
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 14 TOTAL SALES ADJUSTED OPERATING INCOME MARGIN FREE CASH FLOW (before IFRS 16 lease payments) 2025F 2024A $125-$175M ($75-$125M including IFRS-16 lease payments) 5.3%-5.8% Approximately $300M 5.3% $275.5MCAPEX $4.8-$5.1B $5.014B $183.8M ($131.5 including IFRS-16 lease payments) 2025 OUTLOOK Outlook excludes impacts of tariffs and other government policy changes, and cash restructuring costs anticipated to be approximately $55M in 2025 (2024A - $22.6M)
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 15 ROB WILDEBOER EXECUTIVE CHAIRMAN
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 16 TRADE AND TARIFFS
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 17 FIVE POINT PLAN Free trade in autos and parts between the U.S., Canada, and Mexico Higher North American content in vehicles produced in North America Higher penalties for non- compliance with Rules of Origin Measures to incentivize non-North American companies to build more vehicles in North America Direct Chinese investment in North American auto or auto parts companies should not be supported
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CAPITAL ALLOCATION FRAMEWORK • Targeted Net Debt/Adjusted EBITDA ratio of ~1.5x or better • Maintain flexibility to invest for growth Maintain Strong Balance Sheet • Organic opportunities • Invest in R&D and new products • Acquisitions that fit product strategy • Priorities dictated by strict ROIC/IRR focus Invest to Maintain and Grow Our Business • Repurchase shares with excess liquidity (at the appropriate times) • Maintain dividend Return Capital to Shareholders www.martinrea.com | 18
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com THANK YOU Q&A
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com APPENDIX
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 21 $1,301.8 $1,275.5 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Q2 2024 Q2 2025 Sales ($ Millions) • Total sales down 2.0% year over year: – Production sales down 5.1% – Tooling sales up 100.3% • North American production sales were down 5.4%, reflecting: – Lower year-over-year production volumes on certain vehicle platforms including the Jeep Grand Cherokee and Wagoneer, Ford Escape and Maverick, and Nissan Pathfinder and Rogue, and. – Programs that ended production during or subsequent to Q2 2024, including the Chevrolet Malibu, an aluminum engine block for Stellantis, and the Ford Edge. • Partially offset by: – Higher OEM volumes on the Ford Mustang Mach-E, General Motors (GM) Equinox/Terrain, GM large pickup truck and SUV platform, Mercedes EVA2 platform, ZF transmission, and the Lucid Air. – The launch and ramp up of new programs, including GMs new EV platform (BEV3/BET) and the Toyota Tacoma. • European production sales were down 3.2%, reflecting lower year-over-year OEM production volumes, and programs that ended production during or subsequent to Q2 2024, partially offset by the launch and ramp up of new programs. • Rest of World production sales were down 11.3% , mainly reflecting lower Jaguar Land Rover volumes in China. -2.0% YoY Q2 SALES $1,263.7 $1,199.2 $38.1 $76.3 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Q2 2024 Q2 2025 Sales ($ Millions) Production Tooling
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 22 6.3% 6.8% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Q2 2024 Q2 2025 Adjusted Operating Income Margin (%) • Adjusted Operating Income Margin increased 50bps year over year. • North American margin increased year over year, reflecting: − Productivity and efficiency improvements. − Higher year-over-year favourable commercial settlements. • Partially offset by: − Decremental margins on lower year-over-year production sales. − An increase in tooling sales, which typically earn low margins for the Company. • Europe margin decreased year over year, reflecting: − Lower commercial settlements. − Decremental margins on lower year-over-year production sales. • Rest of World margin decreased, reflecting decremental margins on lower year-over-year production sales, and lower commercial settlements. Q2 ADJUSTED OPERATING INCOME MARGIN
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 23 $0.58 $0.66 $0.00 $0.20 $0.40 $0.60 $0.80 Q2 2024 Q2 2025 Adjusted Net Earnings Per Share ($) • Adjusted Net Earnings per Share of $0.66 increased year over year, reflecting: – The factors affecting sales and Adjusted Operating Income Margin explained earlier. – Lower year-over-year finance expense owing to lower debt levels and interest rates. – A lower effective tax rate (28.8% for Q2 2025 vs. 29.4% for Q2 2024). • Partially offset by: – A net foreign exchange loss of $1.7 million in Q2 2025 compared to a gain of $1.9 million in Q2 2024. Q2 ADJUSTED NET EARNINGS PER SHARE
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 24 $51.7 $72.0 $0 $20 $40 $60 $80 Q2 2024 Q2 2025 Free Cash Flow ($ Millions) • Free Cash Flow increased year over year, reflecting: – A positive year-over-year change in non-cash working capital. – Lower interest paid. – Partially offset by higher capex and higher income taxes paid. Q2 FREE CASH FLOW
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©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 25 STAY CONNECTED