Earnings release
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Nemak reports EBITDA of US$174 M in 3Q26 A 21% y-o-y increase, supported by the recent acquisition Monterrey, Mexico, October 20, 2026. Nemak, S.A.B. de C.V. (BMV: NEMAK) (“Nemak” or the “Company”) announced today its operating and financial results for the third quarter of 2026 (“3Q26”). The following is a summary of the key figures for the period: Message from the CEO During the third quarter, revenue increased 22% year-over-year (“y-o-y”), reflecting the benefits of our expanded global platform following the recent acquisition, together with continued demand in North America. In turn, EBITDA rose 21% y-o-y to US$174 million. This performance reaffirms the value of our strategy, which is built on two complementary pillars: the scale and resilience of our ICE Powertrain business, and the long-term growth potential of e-mobility, structure, and chassis (“EV/SC”) applications. This balance enables us to support our customers across propulsion technologies as the industry continues to evolve. The integration of our recently acquired operations remains a key priority and continues to progress according to plan, with encouraging results across operations, commercial, finance, and technology. Beyond its strategic rationale, the combination has broadened our technological capabilities, customer relationships, and geographic reach, and is already translating into a stronger order book and a growing pipeline of opportunities. We are particularly encouraged by the cultural fit across the organization, as our teams increasingly work as one, combining their strengths and expertise to better serve customers. We also took an important step to strengthen our capital structure by completing the refinancing of our 2028 senior notes. This transaction extended our debt maturity profile, diversified our funding sources, and enhanced our financial flexibility, reflecting our ongoing commitment to disciplined execution and a prudent financial profile. With an expanded platform, a balanced portfolio, a solid financial foundation, and dedicated teams around the world, we believe Nemak is well positioned to strengthen its competitive position and create sustainable long-term value for our shareholders. 2026 2025 2026 2025 D% Revenues 1,501 1,227 4,403 3,708 18.7 EBITDA1 174 143 472 474 (0.5) CAPEX 100 70 323 206 56.8 US$ M illions (1 ) EBITDA = Operating Income + Depreciation, Amortization & other Non-Operating Items (2) NA = Not applicable Third Quarter Nine months
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Recent Developments • During 3Q26, the Company completed the refinancing of its €500 million senior notes due 2028 through a combination of local bond issuances and bank financing, extending debt maturities and enhancing financial flexibility. • Year-to-date, Nemak has secured new business awards representing ~US$620 million of annual revenue, with EV/SC applications representing ~30%, and the remainder corresponding to ICE Powertrain. • During the quarter , the Company started production of sever al EV/SC applications across Europe, North America , and China, including programs with leading Chinese OEMs , further expanding its portfolio of lightweight solutions. • Nemak’s operations received customer recognition in Asia, including a Quality Excellence Award from Beijing Benz Automotive in Chongqing, China, and a Supplier Sustainability Award from Tata Motors in Chennai, India. Automotive Industry In 3Q26, U.S. light-vehicle SAAR sales were ~16.4 million units, remaining stable y-o-y, reflecting steady consumer demand. Light-vehicle production in North America declined 3.8% y-o-y to ~3.8 million units during the quarter, as OEMs maintained a disciplined approach to production and inventory management. In Europe, light-vehicle SAAR sales increased 5.1% y-o-y to ~17.4 million units, supported by a broader range of available models, which contributed to improved affordability, as well as continued demand for electric vehicles. Light-vehicle production in the region decreased 1.1% y-o-y to ~3.5 million units, reflecting higher imports into the region and softer export activity. 2026 2025 % Var 2026 2025 % Var US Vehicle Sales SAAR⁽¹⁾⁽²⁾ 16.4 16.4 (0.5) 16.0 16.4 (2.5) North America Vehicle Production⁽²⁾ 3.8 4.0 (3.8) 11.5 11.7 (1.5) North America Nemak Customer Production⁽²⁾ 2.5 2.7 (6.2) 7.6 7.7 (1.7) Europe Vehicle Sales SAAR⁽¹⁾⁽²⁾ 17.4 16.6 5.1 16.7 16.4 1.6 Europe Vehicle Production⁽²⁾ 3.5 3.5 (1.1) 11.5 11.6 (1.0) Europe Nemak Customer Production⁽²⁾ 3.1 3.1 (1.5) 7.7 7.8 (0.8) Millions of Units Millions of Units Third Quarter Nine Months (1) SAAR = Seasonally Adjusted Annual Rate (2) Source: Industry Analyst and Nemak estimates
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Financial Results Summary Revenue in 3Q26 increased 22% y-o-y to US$1.5 billion, reflecting resilient underlying demand, the contribution from the recently acquired operations, and higher aluminum prices. The EV/SC segment represented 14% of total revenue. EBITDA for 3Q26 totaled US$174 million, increasing 21% y-o-y, reflecting the contribution from the acquisition, favorable product mix, and commercial negotiations. Operating Income totaled US$25 million in 3Q26, compared to US$26 million in 3Q25, as higher EBITDA was offset by asset impairments of US$24 million related to footprint optimization initiatives. In 3Q26, Net Income was approximately break-even. The result was primarily driven by the aforementioned asset impairments and higher financial expenses; partly offset by an income tax benefit. This compares to US$25 million in 3Q25. Capital expenditures in 3Q26 amounted to US$100 million, 43% higher than 3Q25, due mainly to investments in the Georgia, U.S. facility, with start of production scheduled during 4Q26. As of September 30, 2026, Nemak’s Net Debt stood at US$1.76 billion, at the same level as the previous quarter. During 3Q26, the Company also successfully completed the refinancing of its 2028 euro-denominated notes. On a pro forma basis, Net Debt to LTM EBITDA was 2.8 times and interest coverage was 4.9 times, compared to 2.5 times and 4.9 times, respectively, at the end of 3Q25. 2026 2025 D% 2026 2025 D% Revenues 1,501 1,227 22.3 4,403 3,708 18.7 ICE Powertrain 1,287 1,130 13.9 3,803 3,381 12.5 E-mobility, Structure & Chassis 214 97 NA2 600 327 83.5 Operating Income 25 26 (3.8) 92 153 (39.9) EBITDA1 174 143 21.3 472 474 (0.5) Net Income 0 25 NA2 8 (16) NA2 CAPEX 100 70 42.9 323 206 56.8 Net Debt3 1,756 1,592 10.3 US$ M illions (1 ) EBITDA = Operating Income + Depreciation, Amortization & other Non-Operating Items (2) NA = Not applicable (3) Net Debt = Total Debt - Total Cash Third Quarter Nine months
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Regional Results North America In 3Q26, North America revenue increased ~15% y-o-y to US$7 47 million, mainly related to higher aluminum prices and favorable product mix. EBITDA was US$73 million, 9% above 3Q25, due mainly to product mix and commercial negotiations, which offset the effect from the appreciation of the Mexican peso against the US dollar. Europe In Europe, revenue increased ~30% y-o-y to US$522 million, supported by the recent acquisition and higher aluminum prices . EBITDA amounted to US$ 66 million, up ~32% y-o-y, mainly due to the contribution from the acquired business. Rest of the World Revenue in the Rest of the World increased ~32% y-o-y to US$231 million, mostly reflecting the recent acquisition. EBITDA was US$35 million, up ~34% y-o-y, following revenue dynamics and sustained operating performance.
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Methodology for presentation of results The report presents unaudited financial information. Figures are in US dollars, and financial ratios are calculated in the same currency. Due to rounding, minor differences may occur when calculating percentage changes from one period to another. Earnings webcast information Nemak’s 3Q26 Earnings Webcast will be held on Wednesday, October 21, 2026, 1:00 p.m. Eastern Time (11:00 a.m. Mexico City Time). To participate, please join the live webcast. If you are unable to participate, the transcript and audio recording of the event will be available on Nemak’s website. For more information, please visit https://www.nemak.com/investors Forward-looking statements This report may contain certain “forward -looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to risks, uncertainty, and changes in circumstances, which may cause actual results, performance , or achievements to differ materially from anticipated results, performance, or achievements. All statements contained herein that are not clearly historical in nature are forward -looking and the words “anticipate ,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intend ed to identify forward-looking statements. Nemak is under no obligation (and expressly disclaims any such obligation) to update or alter its forward -looking statements whether as a result of new information, future events, or otherwise. About Nemak Nemak is a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of multi-material components for e-mobility, structure & chassis, and ICE powertrain applications. In 202 5, it generated revenue of US$ 4.9 billion. For more information about Nemak, please visit nemak.com.
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2026 2025 % Var. 2026 2025 % Var. Total revenues 1,501 1,227 22.3 4,403 3,708 18.7 Gross profit 165 120 37.5 453 414 9.4 Sales & administrative expenses (112) (80) 40.0 (333) (240) 38.8 Other income (expenses) net (29) (13) NA2 (28) (21) NA2 Operating Income 25 26 (3.8) 92 153 (39.9) Interest Expenses (42) (29) 45.0 (109) (88) 23.9 Interest Income 7 3 NA2 11 7 NA2 Foreign exchange gain (loss) 5 (4) NA2 5 (102) NA2 Financing expenses net (30) (30) 1.0 (93) (183) (49.2) Participation in associates results (1) 0 NA2 1 1 0.0 Income Tax 6 28 NA2 7 13 (46.2) Net Income 0 25 NA2 8 (16) NA2 2026 2025 % Var. 2026 2025 % Var. Operating Income 25 26 (3.8) 92 153 (39.9) Depreciation, Amortization & Other Non-Operating items 149 117 27.4 381 321 18.7 EBITDA1 174 143 21.3 472 474 (0.5) CAPEX 100 70 42.9 323 206 56.8 (1) EBITDA = Operating Income + Depreciation, Amortization & other Non-Operating items (2) Not applicable Nemak Income Statement Millions of Dollars For the third quarter of: For the nine months of: 19.1685 20.664 Assets Sep-26 Dec-25 % Var Cash and cash equivalents 320 517 (38.1) Accounts receivable 823 622 32.3 Inventories 1,020 819 24.5 Other current assets 65 59 10.4 Total current assets 2,228 2,017 10.5 Investments in shares 46 30 53.3 Property, plant and equipment, net 3,256 2,795 16.5 Other assets 716 707 1.3 Total assets 6,260 5,550 12.8 Liabilities & stockholders' equity Sep-26 Dec-25 % Var Bank loans 124 53 NA1 Current maturities of long-term debt 34 41 (16.2) Interest payable 10 7 42.9 Operating liabilities 2,177 1,772 22.9 Total current liabilities 2,345 1,873 25.2 Long-term debt 1,905 1,816 4.9 Labor liabilities 122 99 23.2 Other long term-liabilities 223 92 NA1 Total liabilities 4,595 3,880 18.4 Total stockholders’ equity 1,665 1,669 (0.2) Total liabilities & stockholders' equity 6,260 5,550 12.8 (1) Not applicable Nemak Balance Sheet Millions of Dollars
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Total Revenues by Segment* 2026 2025 % Var. 2026 2025 % Var. North America 747 651 14.8 2,127 1,978 7.5 Europe 522 401 30.2 1,617 1,225 32.0 Rest of World 231 175 32.3 660 504 30.8 Total 1,501 1,227 22.3 4,403 3,708 18.7 EBITDA ¹ 2026 2025 % Var. 2026 2025 % Var. North America 73 67 8.6 187 224 (16.5) Europe 66 50 31.7 195 178 9.8 Rest of World 35 26 34.2 89 72 24.5 Total 174 143 21.3 472 474 (0.5) EBITDA ¹ Margin in % 2026 2025 % Var. 2026 2025 % Var. North America 10% 10% (5.4) 9% 11% (22.3) Europe 13% 12% 1.2 12% 15% (16.8) Rest of World 15% 15% 1.4 14% 14% (4.9) Total 12% 12% (0.8) 11% 13% (16.2) (1) EBITDA = Operating Income + Depreciation, Amortization & other Non-Operating items (2) NA2 = Not aplicable * To external customers Nemak Regional Results Millions of Dollars For the third quarter of: For the nine months of: