Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Debt Investor Presentation (2025)
95 slides from Mercedes-benz's debt investor presentation, 2025
Slide 1: Fixed Income Presentation Q3 2025
FIXED INCOME PRESENTATION MERCEDES-BENZ GROUP AG — MERCEDES-BENZ — Q3 2025
Slide 2: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 3: Mercedes-Benz Cars: Five Reasons for Confidence
MERCEDES-BENZ CARS: FIVE REASONS FOR CONFIDENCE FIVE REASONS FOR CONFIDENCE . MERCEDES -BENZ IS DETERMINED TO DELIVER — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Biggest product Next Taking Increasing Attractive launch generation performance resilience & reshaping shareholder programme o
Slide 4: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 5: Biggest Product Launch Program in Our History
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY M E R C E D E S - B EN Z – T H E O R I G I N A L A N D M O S T V A L U A B L E L U X U R Y CAR BRAND Heritage: Formula 1: — FIXED INCOME PRESENTATION Q3 2025 — Mercedes-Benz is built on constant reinvention The power of F1 for our brand 97 mn — MERCEDES-
Slide 6: What Makes a Car a Mercedes-Benz?
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY WHAT MAKES A CAR A MERCEDES-BENZ? THE PERFECT COMBINATION OF EXTRAORDINARY DETAILS — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Safety Quality Comfort Intelligence Design Trustworthy Engineering Effortless Hyper-personalized Sensual responsibi
Slide 7: Biggest-Ever Product Launch Program: >40 Launches Until End of 2027
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY OUR BIGGEST -EVER PRODUCT LAUNCH PROGRAM: >40 PRODUCT LAUNCHES UNTIL THE END OF 2027 2025 2026 2027 — FIXED INCOME PRESENTATION Q3 2025 — ICE Top-End BEV — MERCEDES-BENZ — ICE Core BEV ICE Entry BEV 7 For illustrative purposes – not exhaustive
Slide 8: Mastering Transition Years and Preparing for Product Launches
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY MASTERING TRANSITION YEARS AND PREPARING FOR UNPRECEDENTED PRODUCT LAUNCHES GLOBAL SALES* — FIXED INCOME PRESENTATION Q3 2025 — 1,983 1,299 — MERCEDES-BENZ — Volume 684 China Cautious outlook on China. 2024 2025 2026 2027 Preparing product offensive to g
Slide 9: Refocused Entry Segment
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY WE’VE REFOCUSED OUR ENTRY SEGMENT TO THE MOST S T A N D O U T M O D E L S . T H E Y ’ RE M O V I N G T E C H N O L O G I C A L BOUNDARIES IN THIS CLASS. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — CLA SUVs Premiere of CLA & Debut of GLB & CLA
Slide 10: As a Tech Frontrunner, the CLA Elevates the Game
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY AS A TECH FRONTRUNNER, THE CLA ELEVATES THE GAME — FIXED INCOME PRESENTATION Q3 2025 — 792 km electric range (WLTP), 866 km electric range (CLTC) — MERCEDES-BENZ — Energy consumption of 14.1-12.2 kWh/100 kilometres (WLTP) Up to 325 km charge within 10 mi
Slide 11: Core Segment Remains the Backbone of Our Business
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY THE CORE SEGMENT REMAINS THE BACKBONE OF OUR BUSINESS. WE’LL COMPLETE OUR PORTFOLIO ACROSS ALL POWERTRAINS. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — GLC C-Class E-Class Continuing success 800 kilometres Next level story in electric era of
Slide 12: The All-New Mercedes-Benz GLC
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY THE ALL -NEW MERCEDES -BENZ GLC: EFFORTLESSLY UNCOMPROMISING WITH WELCOME HOME FEELING — —F I UX B First Mercedes-Benz with > 700 km range (WLTP) SKY CONTROL panoramic roof ESD FI N redesigned brand-defining with ambient light L AC G illuminated and chro
Slide 13: Structurally Higher Top-End Share
BIGGEST PRODUCT LAUNCH PROGRAM IN OUR HISTORY WE’VE ACHIEVED A STRUCTURALLY HIGHER TOP -END SHARE. IN THE NEXT YEARS, WE’LL MASSIVELY STRENGTHEN THE UPPER END OF OUR PORTFOLIO. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — AMG Maybach G-Class S-Class Redefining BEV/ Evolving brand, Expansi
Slide 14: Adventurous Luxury
— FIXED INCOME PRESENTATION Q3 2025 — ADVENTUROUS LUXURY 14 — MERCEDES-BENZ —
Slide 15: A Unique Success Story: G-Class
A UNIQUE SUCCESS STORY DRIVEN BY SPECIAL MODELS AND EDITIONS — FIXED INCOME PRESENTATION Q3 2025 — 42.3k CAGR 2014–2024: +11.2% — MERCEDES-BENZ — Growth fueled by strong, sustained demand and the success of special models and limited editions, while 14.7k carefully managed to preserve the exceptiona
Slide 16: Maybach: Sophisticated Luxury
MAYBACH — FIXED INCOME PRESENTATION Q3 2025 — S O P H I S T I C AT E D L U X U R Y — MERCEDES-BENZ — MAYBACH REPRESENTS THE PINNACLE OF PERFECTION AND SOPHISTICATED DESIGN, PAIRED WITH TECHNICAL INNOVATION AND OUTSTANDING CRAFTMANSHIP 16
Slide 17: Maybach: Growing the Brand
MAYBACH GROWING THE BRAND SALES 2015 – 2024 FAST GROWTH TO STRONG POSITION — FIXED INCOME PRESENTATION Q3 2025 — MAYBACH & LUXURY COMPETITORS Maybach has experienced strong growth (Source: company resources) in recent years, outpacing its competitors. Even in a recently more challenging business env
Slide 18: AMG: Performance Luxury
AMG — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — PERFORMANCE LUXURY OUR AMBITION : MAKING AMG THE MOST SUCCESSFUL PERFORMANCE BRAND 18
Slide 19: AMG Sales: Strong Growth
AMG AMG SALES: STRONG GROWTH DRIVEN BY A HIGHLY DESIRABLE PORTFOLIO CAGR 2014-2024: 11.3% — FIXED INCOME PRESENTATION Q3 2025 — Unit sales 150,000 Strategically optimized portfolio: — MERCEDES-BENZ — 100,000 Capitalised on untapped market potential by closing key gaps in the lineup with targeted new
Slide 20: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 21: Desirable HEV and BEV Line-up from Entry to Top-End
NEXT GENERATION OF MB TECH WE OFFER BOTH DESIRABLE HEV AND BEV IN AN UNCOMPROMISING LINE-UP FROM ENTRY TO TOP -END — FIXED INCOME PRESENTATION Q3 2025 — BATTERY ELECTRIC … ELECTRIFIED DRIVETRAIN & … COMBUSTION ENGINE — MERCEDES-BENZ — TOP-END TOP-END & CORE Uncompromising through dedication to batte
Slide 22: MMA – Uncompromising Drivetrain Flexibility
NEXT GENERATION OF MB TECH MMA – UNCOMPROMISING DRIVETRAIN FLEXIBILITY IN THE ENTRY SEGMENT — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Drivetrain-flexible with no compromise High-tech electrified M252 Interior space matches four-cylinder petrol engine with Electric Drive Unit 2.0 with a
Slide 23: Concept AMG GT XX: The Legacy Continues
NEXT GENERATION OF MB TECH CONCEPT AMG GT XX: THE LEGACY CONTINUES AMG NEVER RESTING. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — DURATION OF THE RUNNING DISTANCE RECORDS RECORD DRIVE SPEED COVERED BROKEN 7 d, 13 h, 24 min, 7 sec 300 km/h 40,075 km 25 23
Slide 24: Every New Mercedes-Benz Will Be Software-Defined
NEXT GENERATION OF MB TECH EVERY NEW MERCEDES -BENZ WILL BE SOFTWARE -DEFINED. IT’S THE FOUNDATION TO ELEVATE THE DIGITAL CUSTOMER EXPERIENCE. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Chip-to-Cloud User Experience ADAS Own architecture with Integration of local leverage fleet data to
Slide 25: MB.OS Brings Our SDV Architecture to the Portfolio
NEXT GENERATION OF MB TECH MB.OS BRINGS OUR SDV ARCHITECTURE TO THE ENTIRE MERCEDES -BENZ PORTFOLIO — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — All powertrains – BEV, PHEV, ICE Full vehicle updateable Mercedes-Benz Cars and Vans, Maybach and AMG 25
Slide 26: Software-Defined Vehicles Offer Exceptional Digital Experience
NEXT GENERATION OF MB TECH OUR SOFTWARE -DEFINED VEHICLES WILL OFFER AN EXCEPTIONAL DIGITAL EXPERIENCE — FIXED INCOME PRESENTATION Q3 2025 — Architects of MB.OS Scalable to fit every segment Combining in-house expertise with a selection — MERCEDES-BENZ — of world-class technology partners Full contr
Slide 27: MB.OS: The AI-Enhanced Superbrain
NEXT GENERATION OF MB TECH MB.OS: THE AI -ENHANCED SUPERBRAIN OUR SDV ARCHITECTURE WITH FUNCTIONAL ZONES — —F I UX B AD & MBUX Vehicle & Drive Controller ES High-performance as service providers D FI N computing with state of the L AC G for functional zones — MERCEDES-BENZ — O SMHEI PP RGEESREMNATNA
Slide 28: Transformation Through AI
NEXT GENERATION OF MB TECH TRANSFORMATION THROUGH AI. INTELLIGENT MB PRODUCTS AND COST -EFFICIENT BUSINESS — FIXED INCOME PRESENTATION Q3 2025 — CONVERSATIONAL AI BEHAVIOURAL AI AGENTIC AI INTELLIGENCE — MERCEDES-BENZ — New natural conversations Proactive UI experience Hyper-personalised user experi
Slide 29: Advancing Automated Driving Technology
NEXT GENERATION OF MB TECH WE ADVANCE AUTOMATED DRIVING TECHNOLOGY TO EXPAND OUR LEADING ROLE LEVEL 2+ POINT-TO-POINT LEVEL 3 LEVEL 4 — FIXED INCOME PRESENTATION Q3 2025 — PARTIAL AUTOMATION ASSISTED DRIVING CONDITIONAL AUTOMATION HIGH-LEVEL AUTOMATION PARTIAL AUTOMATION — MERCEDES-BENZ — INTELLIGEN
Slide 30: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 31: Intensifying Efforts to Reduce Costs and Prioritise Funding
TAKING PERFORMANCE TO THE NEXT LEVEL WE’RE INTENSIFYING OUR EFFORTS TO FUNDAMENTALLY REDUCE COSTS AND PRIORITISE FUNDING. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Production cost Material cost Fixed costs Investments >10% reduction >8% reduction >10% reduction >10% reduction until 202
Slide 32: Tackling Our Material Costs
TAKING PERFORMANCE TO THE NEXT LEVEL WE TACKLE OUR MATERIAL COSTS — FIXED INCOME PRESENTATION Q3 2025 — Beat 2026: design-to-cost, strict standardization of MATERIAL COST REDUCTION — MERCEDES-BENZ — components and modules, low-cost country sourcing. > -8% Battery costs: -30% €/kWh reduced for MMA vs
Slide 33: Allocating Capital to the Most Promising Segments
TAKING PERFORMANCE TO THE NEXT LEVEL WE CONTINUE TO ALLOCATE OUR CAPITAL TO THE MOST PROMISING SEGMENTS — FIXED INCOME PRESENTATION Q3 2025 — 2019 – 2024 CAPEX AND R&D INVESTMENTS* Capex share of investments significantly down. Investment peak in 2025 > -10% — MERCEDES-BENZ — driven by unprecedented
Slide 34: Continued Fundamental Fixed Cost Savings
TAKING PERFORMANCE TO THE NEXT LEVEL CONTINUED FUNDAMENTAL FIXED COST SAVINGS ADDITIONAL >10% UNTIL 2027 FIXED COST REDUCTION — FIXED INCOME PRESENTATION Q3 2025 — (NET OF INFLATION)* — MERCEDES-BENZ — Headcount reduction using all levers -19% such as attrition, no replacements, voluntary redundancy
Slide 35: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 36: Streamlining Our Operations in Europe
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT WE’RE STREAMLINING OUR OPERATIONS IN EUROPE. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Shifting capacity Making German footprint Started sale of own towards east more weatherproof retail in Germany 36
Slide 37: Building on Our Regional Setup in the U.S.
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT WE’RE BUILDING ON OUR REGIONAL SETUP IN THE U.S. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Grow sales & Elevate customer Strengthen contribution experience local team 37
Slide 38: Taking On the Competition in China
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT WE’RE TAKING ON THE COMPETITION IN CHINA. — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — China-fit Competitive Trusted Relevance products cost positioning brand & resilience 38
Slide 39: Substantially Optimizing Production Costs
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT SUBSTANTIALLY OPTIMIZING PRODUCTION COSTS — FIXED INCOME PRESENTATION Q3 2025 — DOUBLING THE LOW-COST PRODUCTION COSTS COUNTRY SHARE IN EU 15% to 30% -10% > -10% — MERCEDES-BENZ — from Act 2024 vs. 2027 Act 2024 vs. Act 2022 2027 vs. Act 2024 Fact
Slide 40: Geopolitical Hedge: Local-for-Local Production
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT GEOPOLITICAL HEDGE: INCREASING SHARE OF LOCAL - FOR-LOCAL PRODUCTION FROM 60% TO 70% — FIXED INCOME PRESENTATION Q3 2025 — FUTURE GLOBAL PRODUCTION NETWORK** USA our “Home of SUVs” Imported and exported vehicles in balance (ca. 200k). — MERCEDES-B
Slide 41: Industrial Base Tailored to Market Demand
INCREASING RESILIENCE AND RESHAPING GLOBAL FOOTPRINT INDUSTRIAL BASE TAILORED TO MARKET DEMAND GLOBAL PRODUCTION CAPACITY 2024* RIGHTSIZING PRODUCTION FOOTPRINT* — FIXED INCOME PRESENTATION Q3 2025 — EUROPE/ AMERICA ASIA Sale of Hambach Rightsizing Germany REST OF WORLD and small volume plants in Op
Slide 42: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 43: Margins Back to Double-Digit
ATTRACTIVE SHAREHOLDER RETURNS M ARGI NS BACK TO DOUBLE -DI GI T BE CAUSE I T‘S M E RCE DE S -BE NZ — FIXED INCOME PRESENTATION Q3 2025 — RoS in % MB CARS MARGIN CORRIDOR** Pre-Tariff ≥ 10% — MERCEDES-BENZ — 10 MASTERING TRANSFORMATION Prudent macro and market perspective. 6-8% Product momentum mate
Slide 44: Much Better Financial Shape
ATTRACTIVE SHAREHOLDER RETURNS WE’VE PUT OURSELVES IN A MUCH BETTER FINANCIAL SHAPE Group Free Cash Flow Group Net Industrial — FIXED INCOME PRESENTATION Q3 2025 — in billion euros Liquidity in billion euros — MERCEDES-BENZ — 31.4 9.2 share buyback volume 11 & paid dividend in 2024 1.4 2019 2024 201
Slide 45: Benchmark Shareholder Return Continues
ATTRACTIVE SHAREHOLDER RETURNS B E N C H M A R K S H A R E H O L D ER R E T U R N C O N T I N U E S BACKED BY STRONG CASH GENERATION Generated Free Cash Flow Dividend YTD25 9M paid out in May 2025 — MERCEDES-BENZ — 5.6 bn New Share Buyback up to 2bn EUR 4.1 bn Planned start November 3, 2025 with a d
Slide 46: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 47: Our Sustainable Business Strategy
SUSTAINABILITY OUR SUSTAINABLE BUSINESS STRATEGY — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Mercedes-Benz Sustainable Business Strategy 47
Slide 48: Committed to Our Ambition 2039
SUSTAINABILITY WE ARE COMMITTED TO OUR AMBITION 2039 — FIXED INCOME PRESENTATION Q3 2025 — Reducing CO2 emissions Aiming for a net-carbon neutral* MB new vehicle — MERCEDES-BENZ — fleet along entire value chain & over entire life cycle by 2039 Accelerating the energy transition Aiming to further inc
Slide 49: All-New Products Making Great Leaps Forward
SUSTAINABILITY WITH OUR ALL-NEW PRODUCTS, WE ARE MAKING GREAT LEAPS FORWARD — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — minus two-thirds minus 40% carbon footprint reduction across the carbon footprint reduction along the entire lifecycle compared to the entire value chain with new CLA v
Slide 50: On the Road to Zero Carbon Emissions
SUSTAINABILITY ON THE ROAD TO ZERO CARBON EMISSIONS — FIXED INCOME PRESENTATION Q3 2025 — CO 2 EMISSIONS Merced es - B en z Cars O peration s — MERCEDES-BENZ — scope 1 an d scope 2 compar e d to 2018 DECARBONISATION OF HEAT PUMPS ELECTRIFICATION DISTRICT HEATING OF PAINT SHOPS 50
Slide 51: Renewable Energy Expansion
SUSTAINABILITY RENEWABLE ENERGY EXPANSION — FIXED INCOME PRESENTATION Q3 2025 — MERCEDES-BENZ CARS O peration s — MERCEDES-BENZ — SOLAR WINDPARK ENERGY PAPENBURG CONSTRUCTION STARTED WINDPARK WINDANKER INSTALLATIONS IN PROGRESS APPROVAL RECEIVED 51
Slide 52: Energy Efficiency
SUSTAINABILITY ENERGY EFFICIENCY REDUCTION UNTIL 2030 CONSUMPTION 2030 — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — compared to 2024 HEAT RECOVERY DIGITALISATION TECHNOLOGY 52
Slide 53: Decarbonisation in Logistics
SUSTAINABILITY DECARBONISATION IN LOGISTICS TARGET | CO2 EMISSION REDUCTIONS — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — compared to 2021 AVOIDANCE REDUCTION BY LOCALISATION, OPTIMISATION & EFFICIENCY BY TECHNOLOGY = E-TRUCKS, BIO-FUEL, SAF 53
Slide 54: Batteries in a Closed Loop
SUSTAINABILITY BATTERIES IN A CLOSED LOOP BATTERY PRODUCTION — FIXED INCOME PRESENTATION Q3 2025 — CELL PRODUCTION EV PRODUCTION — MERCEDES-BENZ — CATHODE PRODUCTION LIFESPAN OF EV SECONDARY MATERIALS REUSE IN THE VEHICLE PRIMARY MATERIALS RECYCLING + REUSE IN SECOND LIFE 54
Slide 55: Water Management
SUSTAINABILITY WATER MANAGEMENT TARGET 2030 | AMBITION 2039 MULTI-REUSE WATER — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Water reduction Drinking water in in production production processes processes compared to 2023 55
Slide 56: Cost Efficiency
SUSTAINABILITY COST EFFICIENCY CUTTING — FIXED INCOME PRESENTATION Q3 2025 — ENERGY, WATER, WASTE — MERCEDES-BENZ — IN PRO DUCTION CO S TS 56
Slide 57: Financing Our Transformation in a Sustainable Manner
SUSTAINABILITY WE FINANCE OUR TRANSFORMATION IN A SUSTAINABLE MANNER GREEN FINANCE FRAMEWORK GREEN FINANCE INVESTOR REPORT — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Since 2020, updated in 2023 and in line with Ambition 2039 Transparency on use of proceeds and environmental impact Princ
Slide 58: Mercedes-Benz Group ESG Ratings Performance
SUSTAINABILITY MERCEDES-BENZ GROUP ESG RATINGS PERFORMANCE — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — MSCI Leader among OEMs at Sustainalytics SUSTAINALYTICS Robust track record despite challenging framework condition ISS ESG Maintained high level within sector across leading ESG Rating
Slide 59: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 60: Our Funding Strategy Is Built on Strict Principles
FUNDING OUR FUNDING STRATEGY IS BUILT ON STRICT PRINCIPLES Targeting Financial Maximizing Financial Stringent Global — FIXED INCOME PRESENTATION Q3 2025 — Independence Flexibility Funding Policy — MERCEDES-BENZ — No dependence from single Keeping prudent amount of Liquidity matched funding markets,
Slide 61: Portfolio at Mercedes-Benz Mobility Decreased Slightly
FUNDING P O R T F O L I O A T M E R C E D ES - B E NZ M O B I L I T Y D E C R E A S E D S L I G H T L Y C O M P A R E D T O 2024 M A I N L Y D U E T O F X E F F E C T S Wholesale — FIXED INCOME PRESENTATION Q3 2025 — 163 154 151 Loan — MERCEDES-BENZ — 140 138 133 134 132 135 128 117 Lease Portfolio
Slide 62: Mobility Business with Stringent Credit Management
FUNDING M E R C E D E S - B EN Z M O B I L I T Y B U S I N E S S W I T H S T R I N G E N T C R E D I T MANAGEMENT AND SOLID REFINANCING — FIXED INCOME PRESENTATION Q3 2025 — Net credit losses as a percentage of portfolio, subject to credit risk Global net credit losses remain on an elevated 0.41 0.4
Slide 63: Well Balanced Bond Maturity Profile
FUNDING WELL BALANCED BOND MATURITY PROFILE in billions of EUR as of September 30th,2025 — FIXED INCOME PRESENTATION Q3 2025 — Issued in 2025 14.5 Maturities 0.1 12.9 — MERCEDES-BENZ — 1.7 14.4 6.6 11.2 4.7 5.0 5.0 2.8 0.1 0.8 0.5 3.2 4.6 4.2 4.5 1.6 1.5 1.4 3.8 0.9 0.1 0.3 1.3 0.3 2025 2026 2027 20
Slide 64: Financing Liabilities Show a Diversified Funding Mix
FUNDING FINANCING LIABILITIES SHOW A DIVERSIFIED FUNDING MIX in billions of EUR Lease Liabilities Acc. Deposits — FIXED INCOME PRESENTATION Q3 2025 — Other (ex Lease Liab.) Bank Loans Com. Paper Bonds 126 ABS 2% 112 113 2% — MERCEDES-BENZ — 1% 2% 15% 109 2% 1% 0% 1% 1% 1% 102 2% 2% 1% 15% 3% 16% 11%
Slide 65: Balanced Mix of Funding Instruments
FUNDING TO ENSURE SUSTAINABLE PORTFOLIO GROWTH WE MITIGATE RISK AND VOLATILITY THROUGH A BALANCED MIX OF FUNDING INSTRUMENTS — FIXED INCOME PRESENTATION Q3 2025 — Other Lease Liabilities — MERCEDES-BENZ — 1% 2% Bank loans Strengthen our global footprint and use 21% 22% Bonds & CPs market opportuniti
Slide 66: Diversified Global Funding Base
FUNDING DIVERSIFIED GLOBAL FUNDING BASE: CONTINUOUSLY MATCHED WITH MBM REQUIREMENTS Canada EMTN Domestic Bonds — FIXED INCOME PRESENTATION Q3 2025 — CP Prog. Europe ABS EMTN Program Japan Domestic CP Prog. EUR CP Program USA Italy & Hungary: China EMTN ABS 144a / RegS PP - Domestic Bonds Turkey Dome
Slide 67: Financial KPIs Set to Support a Strong Rating
FUNDING M E R C E D E S - B EN Z G R O U P ’ S F I N A N C I A L K P I S S E T T O S U P P O R T A STRONG RATING — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Agency Long-term Outlook Short-term S&P: A negative A-1 Current Moody's: A2 stable P-1 Credit Ratings DBRS: A stable R-1 (low) 67
Slide 68: Funded Ratio of Pension Obligations at Approx. 109%
FUNDING FUNDED RATIO OF PENSION OBLIGATIONS AT APPROX. 109% Daimler Group Mercedes-Benz Group (excl. Truck) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3-2025 — FIXED INCOME PRESENTATION Q3 2025 — 3.7 1.9 2.4 1.9 0.5 0.5 0.6 0.5 1.5 0.9 Solid capital 0.1 0.1 0.1 0.1 0.0 structure: on a net —
Slide 69: Agenda
AGENDA I. Mercedes-Benz Cars: Five reasons for confidence — FIXED INCOME PRESENTATION Q3 2025 — 1. Biggest product launch program in our history — MERCEDES-BENZ — 2. Next generation of MB Tech 3. Taking performance to the next level 4. Increasing resilience and reshaping global footprint 5. Attracti
Slide 70: Executive Summary Q3 2025
RESULTS Q3 2025 EXECUTIVE SUMMARY Q3 2025 1. Strategy Execution • Product offensive started with CLA, our first software-defined vehicle on the road, now also available with LFP battery. • Product offensive continues: GLC world premiere at IAA with fantastic feedback, competitively priced and order
Slide 71: Kicked Off Our Biggest-Ever Product Launch Programme
RESULTS Q3 2025 WE’VE KICKED OFF OUR BIGGEST -EVER PRODUCT LAUNCH PROGRAMME — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Energy consumption combined: 18,9 – 14,9 kWh/100 km | CO₂ emissions combined: 0 g/km | CO₂ class: A CLA CLA Shooting Brake GLC VLE / VLS Class of its own More room for
Slide 72: Pushing the Boundaries of Technology for Customers
RESULTS Q3 2025 WE’RE PUSHING THE BOUNDARIES OF TECHNOLOGY FOR OUR CUSTOMERS — FIXED INCOME PRESENTATION Q3 2025 — — MERCEDES-BENZ — Electric drive Software Automated Driving New era of performance Launch, roll-out & Premiere of Point-to- with AMG GT XX evolution of MB.OS Point assisted driving 72
Slide 73: Mercedes-Benz Group: Key Figures
MERCEDES-BENZ GROUP: KEY FIGURES Q 3 U N D E R L Y I NG P E R F O R M A N C E I N L I N E W I T H E X P E C T A T I O N S , CASH GENERATION CONTINUED — FIXED INCOME PRESENTATION Q3 2025 — Revenue EBIT / EBIT adj. Earnings per share Free Cash Flow (IB) Net Industrial Liquidity in billion euros in bil
Slide 74: Mercedes-Benz Group: EBIT
MERCEDES-BENZ GROUP: EBIT RESTRUCTURING COSTS AND LEGAL PROCEEDINGS IMPACTED EBIT In million euros — FIXED INCOME PRESENTATION Q3 2025 — 235 2,099 — MERCEDES-BENZ — 313 412 1,139 750 -1,349 • Legal proceedings -427 t/o • Restructuring -876 • At-equity Daimler Truck +153 • M&A transactions -46 EBIT M
Slide 75: Reconciliation from CFBIT to Free Cash Flow
MERCEDES-BENZ GROUP: RECONCILIATION FROM CFBIT TO FREE CASH FLOW HEALTHY DIVISIONAL CASH GENERATION L E D T O F R E E C A S H F L O W O F E U R 1. 4 B N In million euros — FIXED INCOME PRESENTATION Q3 2025 — 273 218 1,585 — MERCEDES-BENZ — 1,356 120 1,367 46 -316 -112 • Legal proceedings +41 • Restr
Slide 76: Net Industrial Liquidity
MERCEDES-BENZ GROUP: NET INDUSTRIAL LIQUIDITY CASH GENERATION SUPPORTED HEALTHY BALANCE SHEET In billion euros — FIXED INCOME PRESENTATION Q3 2025 — 1.8 1.1 0.8 0.1 0.1 32.3 — MERCEDES-BENZ — 30.8 -2.4 Free cash flow industrial business Q3 2025: € 1.4 billion Additions to Net Industrial Earnings and
Slide 77: Mercedes-Benz Group: Gross Liquidity
MERCEDES-BENZ GROUP FINANCIALS MERCEDES-BENZ GROUP: GROSS LIQUIDITY MBM In billion euros Industrial Business — FIXED INCOME PRESENTATION Q3 2025 — 3.8 -0.7 -5.4 4.8 -10.0 5.6 0.7 23.1 22.2 -4.3 6.5 — MERCEDES-BENZ — 2.7 3.8 0.0 20.4 18.4 Liquidity Dividend Share IB MBM Other ABS New Bond New FX + Ot
Slide 78: Financial Flexibility Over a 12-Month Period
MERCEDES-BENZ GROUP FINANCIALS M E R C E D E S - B ENZ G R O U P : F I N A N C I A L F L E X I B I L I T Y OVER A 12-MONTH PERIOD – Q3 2025 in billions of EUR 50 — FIXED INCOME PRESENTATION Q3 2025 — ABS potential — MERCEDES-BENZ — Daimler Truck Other incl. stake 32 Fin. Lease Gross industrial liqui
Slide 79: Mercedes-Benz Cars: Top-End and Electric Vehicle Unit Sales
MERCEDES-BENZ CARS: TOP-END AND ELECTRIC VEHICLE UNIT SALES TOP-END SALES INCREASED, ELECTRIC VEHICLES SUPPORTED BY NEW CLA In thousand units -12% 504 +10% +10% Top-End 62 441 68* 96 — MERCEDES-BENZ — 68 62* 87 12 G 9 5 Maybach 5 43 BEV** Core 301 43 250 34 AMG 32 54 PHEV S, EQS, 45 Entry** 141 26 2
Slide 80: Mercedes-Benz Cars: Financials
MERCEDES-BENZ CARS: FINANCIALS IN A DYNAMIC ENVIRONMENT FINANCIALS SHOW RESILIENCE Sales Revenue EBIT adj. CFBIT adj. — FIXED INCOME PRESENTATION Q3 2025 — in thousand units in billion euros in billion euros in billion euros -12% -7% -37% — MERCEDES-BENZ — 504 25.6 2.4 23.7 441 1.5 -6% 1.2 1.1 66.8
Slide 81: Mercedes-Benz Cars: EBIT & RoS
MERCEDES-BENZ CARS: EBIT & ROS NEXT LEVEL PERFORMANCE AND COST EFFICIENCY MEASURES AT WORK In million euros Gross Profit -465 — FIXED INCOME PRESENTATION Q3 2025 — 1,207 287 1,139 — MERCEDES-BENZ — -50 56 104 629 RoS: Material cost savings and efficiencies in production RoS: 4.7% -634 Lower SG&A
Slide 82: Mercedes-Benz Cars: EBIT to CFBIT
MERCEDES-BENZ CARS: EBIT TO CFBIT CONTINUED EMPHASIS ON CASH FLOW STEERING SUPPORTED STRONG CFBIT ADJUSTED In million euros — FIXED INCOME PRESENTATION Q3 2025 — 173 1,529 — MERCEDES-BENZ — 530 1,356 464 18 1,659 CCR: CCR: 1.3 430 3.2 • Legal proceedings +23 t/o • Restructuring +147 • Result at-Equi
Slide 83: Mercedes-Benz Vans: Financials
MERCEDES-BENZ VANS: FINANCIALS V A N S C O N T I N U E D T O D E L I V E R D O U B L E - DI G I T R E T U R N W H I L E INVESTING IN NEW ARCHITECTURE Sales Revenue EBIT adj. CFBIT adj. — FIXED INCOME PRESENTATION Q3 2025 — in thousand units in billion euros in million euros in million euros -8% -13%
Slide 84: Mercedes-Benz Vans: EBIT & RoS
MERCEDES-BENZ VANS: FINANCIALS M E R C E D E S - B ENZ V A N S : E B I T & R O S In In million million euros euros Gross Profit -248 — FIXED INCOME PRESENTATION Q3 2025 — Positive effects from industrial performance incl. one-timers 628 – Significantly lower unit sales and negative net pricing – P
Slide 85: Mercedes-Benz Vans: EBIT to CFBIT
MERCEDES-BENZ VANS: FINANCIALS MERCEDES-BENZ VANS: EBIT TO CFBIT In million euros — FIXED INCOME PRESENTATION Q3 2025 — 46 277 — MERCEDES-BENZ — 358 24 297 80 273 124 t/o CCR: CCR: • Inventories +265 0.8 • Legal proceedings +17 0.7 • Trade receivables -79 • Restructuring +8 • Trade payables +91 • M&
Slide 86: Mercedes-Benz Mobility: Financials
MERCEDES-BENZ MOBILITY: FINANCIALS IMPROVED PORTFOLIO MARGIN AND EFFICIENCIES D R O V E F A V O R A B L E E B I T D E V E L O P ME NT New Business Contract Volume EBIT adj. — FIXED INCOME PRESENTATION Q3 2025 — in billion euros in billion euros in million euros -1% +10% -4% — MERCEDES-BENZ — 14.2 12
Slide 87: Mercedes-Benz Mobility: EBIT & RoE
MERCEDES-BENZ MOBILITY: FINANCIALS MERCEDES-BENZ MOBILITY: EBIT & ROE In million euros • Legal proceedings -422 — FIXED INCOME PRESENTATION Q3 2025 — • Restructuring -71 40 313 285 25 -6 21 — MERCEDES-BENZ — -7 -45 RoE: RoE: Ongoing efficiency measures leading to further cost improvements 9.6% 8.9
Slide 88: Mercedes-Benz Mobility: Net Credit Losses
MERCEDES-BENZ MOBILITY: FINANCIALS MERCEDES-BENZ MOBILITY: NET CREDIT LOSSES* — FIXED INCOME PRESENTATION Q3 2025 — 0.89% 0.83% — MERCEDES-BENZ — 0.43% 0.37% 0.34% 0.42% 0.33% 0.31% 0.31% 0.40% 0.24% 0.26% 0.26% 0.21% 0.21% 0.29% 0.20% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 89: Mercedes-Benz Divisional Guidance 2025
MERCEDES-BENZ DIVISIONAL GUIDANCE 2025 MERCEDES-BENZ DIVISIONAL GUIDANCE 2025 Actuals Actuals Guidance FY 2024 YTD 9M 2025 FY 2025 — FIXED INCOME PRESENTATION Q3 2025 — Unit Sales 1,983k units 1,341k units Significantly below xEV share 19% 21% 20 to 22% Return on Sales (adj.*) 8.1% 5.7% 4 to 6% — ME
Slide 90: Mercedes-Benz Group Guidance 2025
MERCEDES-BENZ GROUP GUIDANCE 2025 MERCEDES-BENZ GROUP GUIDANCE 2025 Actuals Actuals Guidance FY 2024 YTD 9M 2025 FY 2025 — FIXED INCOME PRESENTATION Q3 2025 — Revenue EUR 145.6 bn. EUR 98.5 bn. Significantly below — MERCEDES-BENZ — EBIT EUR 13.6 bn. EUR 4.3 bn. Significantly below Free Cash Flow EUR
Slide 91: Appendix
— FIXED INCOME PRESENTATION Q3 2025 — APPENDIX 91 — MERCEDES-BENZ —
Slide 92: BBAC (Beijing Benz Automotive Cooperation) Joint Venture
BBAC (BEIJING BENZ AUTOMOTIVE COOPERATION) JOINT VENTURE — FIXED INCOME PRESENTATION Q3 2025 — Key Facts − BBAC is based on a trustful partnership with our long-term partner BAIC. — MERCEDES-BENZ — − BBAC is the largest Mercedes-Benz production facility in the world, featuring local R&D BBAC figures
Slide 93: Divisional Guidance Ranges
M E R C E D E S - B ENZ G R O U P / DIVISIONAL GUIDANCE RANGES* Specification/ Significantly Slightly below At prior-year Slightly above Significantly KPI below level above — MERCEDES-BENZ — Revenue/ X < -7.5% -7.5% ≤ X < -2% -2% ≤ X ≤ +2% +2% < X ≤ +7.5% X > +7.5% Unit Sales EBIT (Group) X < -15% -
Slide 94: Contacts – Investor Relations
CONTACTS – INVESTOR RELATIONS — FIXED INCOME PRESENTATION Q3 2025 — Visit our Investor Relations Website: Click here — MERCEDES-BENZ — Alexander Jasperneite Analysts, Creditor and Equity Relations Email: alexander.jasperneite@mercedes-benz.com Stephanie Dumke Capital Market Communication ESG Email:
Slide 95: Disclaimer
DISCLAIMER This document contains forward-looking statements that reflect our current views about future events. The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “can”, “could”, “plan”, “project”, “should” and similar expressions are used to identify forward- looki
Mercedes-Benz Group — Debt Investor Presentation (2025) on 6ix