Rheinmetall Ag · XETR:RHM

Rheinmetall — Investor Presentation (May 2023)

79 slides from Rheinmetall's investor presentation, May 2023

1. Slide 1: Investor Presentation May 2023

   PASSION FOR TECHNOLOGY Rheinmetall Investor Presentation May 2023 © Rheinmetall AG I May 2023 1

2. Slide 2: Agenda

   Investor Presentation Agenda Rheinmetall at a glance Market & Drivers Five divisions under one roof Financials Outlook Responsibility @ Rheinmetall Appendix © Rheinmetall AG I May 2023 2

3. Slide 3: Rheinmetall at a glance: Selected key business highlights

   Investor Presentation Rheinmetall at a glance Selected key business highlights Sales by division Result by division In €m In €m -8% -12% 12% 23% 9% Weapon and Ammunition 41% Weapon and Ammunition Electronic Solutions Electronic Solutions 13% 6.410 Vehicle Systems 754 Vehicle Systems 22% 17% Sensors

4. Slide 4: Five divisions under one roof

   Investor Presentation Rheinmetall at a glance Five divisions under one roof RHEINMETALL GROUP Holding Holding Weapon and Electronic Vehicles Sensors and Materials Ammunition Solutions Systems Actuators and Trade  Mid & Large  Integrated  Tactical Vehicles  Pump Technology  Aftermarket Caliber A

5. Slide 5: Our strategic vision is becoming a reality

   Investor Presentation Rheinmetall at a glance Our strategic vision is becoming a reality TRANSFORMATION GROWTH PORTFOLIO TECHNOLOGY SUSTAINABILITY DIVISIONAL STRUCTURE ACCELERATED GROWTH ACTIVE PORTFOLIO TECHNOLOGY FOCUS ESG INTEGRAL PART OF WELL IMPLEMENTED IN ALL END MARKETS MANAGEMENT DEFINED THE

6. Slide 6: Historic financial development

   Investor Presentation Rheinmetall at a glance Historic financial development Sales, operating result and operating margin Operating FCF and operating FCF to Sales In €m / in % 6,410 In €m / in % oFCF oFCF/Sales 11.8% 6,148 6,255 10.5% 7.4 5,896 8.3% 5,602 5,658 Op. Margin 4.7 5.0 5,405 4.0 Historic

7. Slide 7: Markets & Drivers

   Markets & Drivers © Rheinmetall AG I May 2023 7

8. Slide 8: Taking responsibility in a changing world

   Investor Presentation Taking responsibility in a changing world We develop technologies for the protection of people and a sustainable development “Peace cannot be taken for granted, it needs dialogue, but where necessary also deterrence and determination” Force protection is our President of the Fe

9. Slide 9: Rheinmetall has been a partner to support Ukraine

   Investor Presentation Taking responsibility in a changing world Rheinmetall has been a partner to support the Ukraine INDIRECT SUPPORT Ring Swap CZE: 14 Leo 2A4; 1 BPz Ring Swap SVK | 14 Leo 2A4; 1 BPz Ring Swap SVK | 40 x WLS Ring Swap GRC | 40 SPz Marder Büffel Büffel 5 Tanker Superstructures DIRE

10. Slide 10: Rheinmetall delivers and is ready to do more

    Investor Presentation Taking responsibility in a changing world Rheinmetall delivers and is ready to do more Leopard 1 Leopard 2 Marder  Access to ~ 100 Leopard 1  Access to ~ 50 Leopard 2  140-150 Marder on Stock WA  80-90 vehicles offered to Ukraine  29 in overhaul for Ring Swaps with  60 ve

11. Slide 11: Germany: Acceleration of defence spending more backend loaded

    Investor Presentation Markets & Drivers: Germany Acceleration of defence spending more backend loaded Total Defence expense 50.4 58.6 >70 Special fund NATO 2% goal: in €bn CONFIRMED  0.0 8.4 Backend loaded Olaf Scholz Defence Budget 50.5 50.1 50.1 50.1 50.1 German Federal Chancellor 46.9 45.6 43.2

12. Slide 12: Status quo on German potential

    Investor Presentation Markets & Drivers: Status quo on German potential All major projects included in special fund and annual budget €100bn special fund RHM Projects Defence base budget Apparel and  Ammo  Headsets with built-in hearing protection  Negotiation of framework personal €2 bn ~€2 bn 

13. Slide 13: German decisions expected to gain momentum

    Investor Presentation Markets & Drivers: Status quo on German potential German decisions expected to gain momentum Equipment Ammunition Digitization  Puma upgrade  Large caliber  Gladius Soldier System WA  105mm  2nd lot Puma (tracked)  First call-off  120mm  Marder Continuesuccessor (wheel

14. Slide 14: Transformation for growth: Preparing for the new growth cycle

    Investor Presentation Markets & Drivers: Transformation for growth Preparing for the new accelerated growth cycle Capacity growth M&A Innovations Plants and People Game changing acquisition  Main Battle Tanks of Spanish EXPAL Systems  Panther  Drones  Artillery Closing expected for  Infantry Fi

15. Slide 15: Defence projects with short-term implementation potential

    Investor Presentation Markets & Drivers: Start of a new era in German defence policy Defence projects with short-term implementation potential Lead time Sales period Ammunition 6-12 months ~10 years Trucks ~12 months ~10 years 8x8 and 6x6 12-18 months 6-7 years Puma 24 months 6-7 years Soldier Syste

16. Slide 16: Main challenges are addressed

    Investor Presentation Markets & Drivers: Start of a new era in German defence policy Main challenges are addressed Highest risk: availability of raw materials Personal / Recruiting  Enormous demand for raw materials e.g. steel,  ~1,500 – 3,000 additional people needed electronics  Rheinmetall has

17. Slide 17: Rheinmetall's global production capacities

    Investor Presentation Markets & Drivers: Start of a new era in German defence policy Rheinmetall‘s global production capacities Germany UK Vehicles • Kassel: Vehicles • Unterlüss: Vehicles, Ammunition Canada Electronics, Vehicles • Kiel: Vehicles, Electronics • Bremen: Soldier Systems, Electronics,

18. Slide 18: Participating in the defence super cycle

    Investor Presentation Markets & Drivers Participating in the defence super cycle 100bn fund 2022 Ukraine invasion Demand for 1990 next generation Upscaling of systems Downscaling forces and of forces Inflection Return to treaty modernization and point and territorial armament Out of NATO defence are

19. Slide 19: NATO spending has accelerated

    Investor Presentation Markets & Drivers: NATO NATO spending has accelerated NATO total expenditures in billion US-$ based on 2015 prices and exchange rates New members to join NATO +13.2% +2.1% 1,036 1,052 999 1,018 910 913 904 930 896 Recently announced defence budget increases previous value (1.41

20. Slide 20: Significant reduction in export risk due to high NATO order backlog

    Investor Presentation Markets & Drivers: NATO Significant reduction in export risk due to high NATO order backlog  NATO and related countries*  RoW FY 2022 FY 2021 FY 2018 FY 2015 13% 12% 27% 35% 87% 88% 65% 73% 5.8 €bn 8.6 €bn 13.9 €bn 15.1 €bn © Rheinmetall AG I May 2023 * includes 30 NATO membe

21. Slide 21: Home markets offer further potentials for growth

    Investor Presentation Markets & Drivers: Home Markets Home markets offer further potentials for growth OUR HOME MARKETS Germany Australia UK Hungary  Largest customer  Established „home market“  JV with BAE serves „home  Established „home market“ with  Commitment to 2% goal and  Land 400 progr

22. Slide 22: LYNX pipeline refilled with larger potential in Southern Europe, USA

    Investor Presentation Markets & Drivers LYNX pipeline refilled with even larger potential in Southern Europe  Italy Greece Tender expected in 2023 USA US Army Bradley replacement ~4.000 vehicles ~ € 40 bn Tender: 2021-2023 Australia Tender expected in 2023 Potential start of production: 2028 Hungar

23. Slide 23: US tenders pursued with a new market approach

    Investor Presentation Markets & Drivers: Creating additional markets US tenders pursued with a new market approach Next Generation Vehicle Platforms Next Generation Munitions Lynx – Optionally Manned Fighting Vehicle  Americanization of Lynx next-gen platform  Strong all American team  Next contr

24. Slide 24: Modernization of Southern Europe

    Investor Presentation Markets & Drivers: Creating additional markets Modernization of Southern Europe Italy Greece  10 year budget with up to €8bn for the  IFV Marder already participated in Greece renovation of the armored vehicle fleet Independence Parade MBT: Replacement of the Ariete total of

25. Slide 25: Platform sales are just the tip of the iceberg

    Investor Presentation Markets & Drivers: Product life cycle potential Platform sales are just the tip of the iceberg – success creates opportunities Security Civil ~+10% Rheinmetall creates +42% ~1,6 additional business 1,161 opportunities over the 1,005 ~550 820 473 entire life cycle of up 415 345

26. Slide 26: Unique opportunity to step up our aviation business

    Investor Presentation Markets & Drivers: New business Unique opportunity to step up our aviation business  F-35 assembly in order to create German value generation  LOI with Lockheed Martin / Northrop Grumman signed in February 2023  Long-term contract under negotiation to support European F-35 d

27. Slide 27: Key sales drivers of our business

    Investor Presentation Markets & Drivers: Key sales drivers of our business Weapon and Ammunition Vehicle Systems Electronic Solutions  Growth of German ammo budget  Start of prototype phase for OMFV  Digitization of the German Forces WAbn from €0.7 to €1.2 and CTT* VS  Gladius Soldier Systems 

28. Slide 28: European initiatives to strengthen defence autonomy

    Investor Presentation Markets & Drivers: New business European initiatives to strengthen defence autonomy Air Defence MBT Long Range Artillery Ammo Restocking AirESSI: Defense Establish and Main MGCSBattle Tank Long Range  Multiple Artillery interconnected Ammo  Short Restocking term supply to s

29. Slide 29: Acquisition of EXPAL positions Rheinmetall for high growth

    Investor Presentation Markets & Drivers: Lessons learned from war in Ukraine Acquisition of EXPAL positions Rheinmetall perfectly for high growth scenario NATO requires a Ukraine war puts Industry capacities minimum of 30 days of restocking at risk overwhelmed ammo inventory • Demand expected to sur

30. Slide 30: EXPAL Acquisition Summary

    Investor Presentation Markets & Drivers: EXPAL Acquisition Summary Strategic move to strengthen our core business Financial Transaction Rationale Timeline evaluation  Rheinmetall acquires  Readily available state-  Financial Data for FY  Signing on November 100% of privately of-the-art capacitie

31. Slide 31: EXPAL product portfolio

    Investor Presentation Markets & Drivers: EXPAL product portfolio Full offering of mission-critical products to expand our business Mortar & Air Fuzes and Mortar Combat Eng. Artillery Med Cal Grenades Armament missile Systems DEMIL et al propulsion 41%* 17%* 12%* 5%* 6%* 6%* 13%* Field Artillery Mort

32. Slide 32: EXPAL Key Investment Highlight: superior value proposition

    Investor Presentation Markets & Drivers: EXPAL Key investment Highlight A unique opportunity offering a superior value proposition Commercial Fit Portfolio Fit Sustainable Sales Growth Sustainable Profitability Scalable Mass Production Horizontal Diversification Continous market growth Lean cost str

33. Slide 33: Excess capacities allow flexible adjustment to demand expansion

    Investor Presentation Markets & Drivers: EXPAL Key investment Highlight Excess capacities allow for flexible adjustment to demand expansion Artillery Medium Calibre In rounds In rounds >250,000 >350,000 >1,000,000 >2,000,000 >1,000,000 >100,000 Rheinmetall Expal Combined Capacity Rheinmetall Expal C

34. Slide 34: Attractive financial profile with superior margins and cash conversion

    Investor Presentation Markets & Drivers: EXPAL Key investment Highlight Attractive financial profile with superior margins and cash conversion Strong backlog to turbo • Current backlog of ~€520m charge organic growth • Strong acceleration sparked by increasing demand Sales growth • Company’s total c

35. Slide 35: The civil market is changing, we are prepared!

    Investor Presentation Markets & Drivers: Civil business portfolio The civil market is changing, we are prepared! Innovative ICE Well equipped Diversify into new portfolio with Market disruptions Electrification applications started solutions for clean well managed Portfolio successfully mobility  S

36. Slide 36: Well prepared to address market potentials

    Investor Presentation Markets & Drivers: Civil business portfolio Well prepared to address market potentials Electrification Industrial Technology  Drive market penetration  Digital solutions for mobility and industry applications  Well equipped Electrification Portfolio  Technology leader in DC

37. Slide 37: Green ambitions as a clear global trend for cleaner mobility

    Investor Presentation Markets & Drivers: Clean Mobility Green ambitions as a clear global trend for cleaner mobility g CO2/km Europe USA China 162 Q4 Q1 130 2030: NEV 40% of total Sales ‘20 ‘21 but 121 117 Until 2060: Survival of ICE 108 95 100 93 81 89 70 73 59g (-37%) Trump Admin target Old target

38. Slide 38: Declining ICE volumes and accelerated growth for alternative powertrains

    Investor Presentation Markets & Drivers: LV growth Declining ICE volumes and accelerated growth for alternative powertrains IHS LV production forecast* In million units +4% 97 +3% +2.1% 88 91 85 BEV AP 82 23% Hybrid ICE 11% 14% 19% 45% ICE 19% 26% 32% 39% 9% 12% 14% 63% 15% 17% 81% 74% 81% 74% 68% 6

39. Slide 39: Mobility market trends: From combustion engine to alternative powertrain

    Investor Presentation Markets & Drivers: Mobility market trends From combustion engine to alternative powertrain Mechenical Coolant Pumps ICE Solenoid Valves Variable valve train Electronic throttle Electronic Coolant valve Engine Blocks Valves Heat pumps Exhaust Flaps Engine Bearings EGR Module Ele

40. Slide 40: Diverse portfolio for truck applications

    Investor Presentation Markets & Drivers: Trucks Diverse portfolio for truck applications Permaglide bearings for truck compressors and truck hydraulics Main coolant pumps Auxiliary coolant pumps Electrical oil pumps Bushings for Sales injection pumps in €m Main-bearings 600 ~386 ~436 ~404 Connecting

41. Slide 41: Sensors & Actuators: Prepared for future growth

    Investor Presentation Markets & Drivers: Sensors & Actuators Prepared for future growth Outperforming the Innovative solutions Growth in alternative Diversify into market for clean mobility powertrains (AP) new applications * Estimated sales development in €bn G r o w t h c a t a l y s t s +10% CAGR

42. Slide 42: Five Divisions under one roof

    Five Divisions under one roof © Rheinmetall AG I May 2023 42

43. Slide 43: Division Overview: Vehicle Systems

    Investor Presentation Five divisions under one roof Division Overview: Vehicle Systems Results In €m / in % Sales Operating Result OFCF 2,270 and Margin 1,883 11.4% 321 9.2% 258 81 174 2021 2022 2021 2022 2021 2022 Products Market profile Key Competitors Differentiators Market position TACTICAL VEHI

44. Slide 44: Division Overview: Weapon and Ammunition

    Investor Presentation Five divisions under one roof Division Overview: Weapon and Ammunition Results In €m / in % Sales Operating Result OFCF and Margin 1,470 1,233 132 20.8% 17.6% 218 306 -207 2021 2022 2021 2022 2021 2022 Products Market profile Key Competitors Differentiators Market position MID

45. Slide 45: Division Overview: Electronic Solutions

    Investor Presentation Five divisions under one roof Division Overview: Electronic Solutions Results In €m / in % Sales Operating Result OFCF and Margin 932 1.063 10.6% 11.1% 52 99 118 -52 2021 2022 2021 2022 2021 2022 Products Market profile Key Competitors Differentiators Market position  Integrat

46. Slide 46: Division Overview: Sensors and Actuators

    Investor Presentation Five divisions under one roof Division Overview: Sensors and Actuators Results In €m / in % Sales Operating Result OFCF and Margin 1,315 1,382 7.8% 6.9% 48 29 103 95 2021 2022 2021 2022 2021 2022 Products Market profile Key Competitors Differentiators Market position  Actuator

47. Slide 47: Division Overview: Materials and Trade

    Investor Presentation Five divisions under one roof Division Overview: Materials and Trade Results In €m / in % Sales Operating Result OFCF and Margin 651 743 9.1% 39 7.8% 24 51 68 2021 2022 2021 2022 2021 2022 Products Market profile Key Competitors Differentiators Market position AFTERMARKET  Dai

48. Slide 48: Financials

    FINANCIALS © Rheinmetall AG I May 2023 48

49. Slide 49: Q1 2023: Group Highlights

    Investor Presentation Q1 2023: Group Highlights Start into the year within company expectations Strong Q1 cashflow Seasonality pattern Operating result 2023 Guidance unchanged held back by at- confirmed equity effects  Sales €1,363m  2023 expected to be  At-equity with negative  Sales: €7.4 to 7

50. Slide 50: Q1 2023 Market Update Germany

    Investor Presentation Q1 2023: Market Update Germany Reorganization of military procurement and first orders ahead  New defense minister Pistorius in place since January 2023  Complete overhaul of MOD structure and processes initiated  Commitment to 2% defence spending and request for a budget in

51. Slide 51: Q1 2023 Market Update: Support of Ukraine

    Investor Presentation Q1 2023: Market Update Support of Ukraine remains a top priority  Order intake overview  20 Marder vehicles (already delivered in Q1)  Medium-caliber ammunition  Gepard: 300k rounds (delivery starts H2 2023)  Marder  Tank ammunition  Leopard 1 & 2  Artillery ammunition

52. Slide 52: Q1 2023: Key financial data

    Investor Presentation Q1 2023: Key financial data Q1 grows within expectations Sales 1) Operating result and margin in % 1) Earnings per share 1,2) in €m in €m in €m +97 98 (+7.6%) -19 0 (7.7%) (0.0%) 1,363 (-21.1) 92 -1 (-0.1%) 1 0 3 76 1,266 (-0.3%) (0.0%) 73 -20 +6% (-20.7%) 1.08 1.15 1.15 7.3% 5

53. Slide 53: Heavy backend loaded seasonality in 2023 expected

    Investor Presentation Q1 2023 Group Highlights Heavy backend loaded seasonality in 2023 expected ~44% ~56% ~27% ~73% Avg. H1 Sales Avg. H2 Sales Avg. H1 operating result Avg. H2 operating result >30% >50% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Sales avg 2020-22 2023 Operating Result © Rheinmetall AG I May 2023 53

54. Slide 54: At-equity with significant impact on operating result

    Investor Presentation Q1 2023: Key financial data At-equity with significant impact on operating result Operating result 1) Highlights / Comments in €m -20.4%  Q1 2022 with favorable at-equity 92 contribution in Weapon and Ammunition 73 17  Q1 2023 with negative at-equity effects  4iG with two ne

55. Slide 55: Q1 2023: Cash Flow

    Investor Presentation Q1 2023: Cash Flow Strong cash recovery in Q1 Operating Free Cash flow 1) Highlights / Comments  Q1 bridge (in €m) +357  Operating free cash flow improved by €357 m -105 -462 +39  Main drivers: +23 +304  High customer payments, including pre- -12 +2 -462 payments 03/31/ 202

56. Slide 56: Q1 2023: Balance Sheet

    Investor Presentation Q1 2023: Balance Sheet Successful placement of convertible reshapes balance sheet Gross debt and maturity profile 1) Highlights / Comments in €m Ʃ 2,028 Net financial position 2023 2024 2025 2026 2027 2028 2029ff 12  Convertible bonds issued in Q1 with a nominal value of 256 L

57. Slide 57: Q1 2023: Divisions

    Investor Presentation Q1 2023: Divisions At-equity left its mark on a good starting quarter In €m / in % Sales 1) Operating Result 1) Margin 1) OFCF 1) Q1 2022 Q1 2023 delta Q1 2022 Q1 2023 delta Q1 2022 Q1 2023 Q1 2022 Q1 2023 delta Vehicle Systems 400 462 15.5% 29 42 46.8% 7.2% 9.1% -125 -94 31 We

58. Slide 58: Q1 2023: Nomination and Backlog

    Investor Presentation Q1 2023: Nomination and Backlog Solid Rheinmetall Nomination development in the absence of large single orders Rheinmetall Nomination 1) Rheinmetall Backlog 2) In €m In €m -8% +8% 3,385 28,194 3,104 26,097 Booked Business 1,232 8,741 Nominated Backlog 7,236 1,230 Frame Frame Ba

59. Slide 59: Pick-up in demand becomes visible

    Investor Presentation Q1 2023: Nomination and Backlog Pick-up in demand becomes visible Rheinmetall Nomination * Rheinmetall Backlog** In €m In €m +15% +11% 9,156 26,572 7,968 23,932 8,056 3,521 Nominated Backlog 6,520 Booked Business 3,191 6 3,427 Frame Frame Backlog 3,459 101 Nomination 5,629 15,0

60. Slide 60: Outlook

    OUTLOOK © Rheinmetall AG I May 2023 60

61. Slide 61: Guidance 2023

    Investor Presentation Outlook Guidance 2023 2023e 2022 Sales Between €7.4 to 7.6 bn € 6.410 bn Operating Margin Around 12% 11.8% Operating free cash flow 4-6% OFCF to sales -€152 m Sales guidance includes FX effects and excludes contributions from acquisitions. Guidance will be updated after the EXP

62. Slide 62: Mid-term guidance: Security divisions

    Investor Presentation Mid-term guidance: Security divisions The supercycle 2.0 is happening Top potentials  Sales contribution share of total sales estimates in %  Ammunition Germany  Trucks Germany  Puma  Lynx Phase III  “Schwerer Waffentraeger” ~40%  Soldier Systems  Characal  Air defense

63. Slide 63: Mid-term guidance: Double digit growth

    Investor Presentation Mid-term guidance: Double digit growth over the next 5 years 10.5% 11.8% ~13% In €bn, operating margin in % ~10.0-11.0 >20% ~2.5 6.4 11-12% ~1.5-2.0 ~5.7 10-12% 4.0-5.0 ~10% ~2.0 >10% <1.0 2021 2022 2025 target M&T S&A VS ES WA Consolidation 63 © Rheinmetall AG I May 2023

64. Slide 64: Our Financial Targets 2025

    Investor Presentation Our Financial Targets 2025 are… ATTRACTIVE GROWTH PROFILE Sales target 2025 10-11 €bn HIGHER PROFITABILITY Operating margin target 2025 ~13% CASH GENERATION 4-6% Cashflow to sales target 2025 © Rheinmetall AG I May 2023 64

65. Slide 65: Sustainability is a central component of our corporate strategy

    Investor Presentation Rheinmetall at a glance Sustainability is a central component of our corporate strategy FRAME-WORKS & INITIATIVES CSR-DIA* GRI UN GC CDP SBTi TCFD SASB Since 2017 Since 2017 Joined in 2021 Applied in 2021 Commitment Q4 2021 2022 2022 ACTION ENVIRONMENT SOCIAL GOVERNANCE  Carb

66. Slide 66: Executive Board remuneration policy with 20% share ESG targets

    Investor Presentation Responsibility @ Rheinmetall Executive Board remuneration policy with 20% share ESG targets Short Term Incentive Long Term Incentive Overall payout cap: 250% Overall payout cap: 250% Target achievement per target (0% - 250%) Performance period (4 years forward looking) Overall

67. Slide 67: Appendix

    Appendix © Rheinmetall AG I May 2023 67

68. Slide 68: Clear capital allocation priorities

    Investor Presentation Financials Generating value for shareholders with clear capital allocation priorities Strategic priorities Funding of organic Strategic M&A  Sustainable financing of growth growth  Strong balance-sheet Return  Maintain investment grade of capital  Dividend to shareholders (

69. Slide 69: Successful placement of €1 billion convertible bonds

    Investor Presentation Financials Successful placement of € 1 billion convertible bonds Transaction Terms Highlights Execution Date 31-Jan-23 | Effective Date 07-Feb-23 Total Deal Size €1.0bn (split in 2 equally sized series) Underlying Shares 3.2m Shares / 7.4% Share Capital Tenor Series A: 5 Years

70. Slide 70: Growth needs to be organized

    Investor Presentation Financials Growth needs to be organized Sales Consolidation (in €m / in % of Sales) 5.7% 6.5% 8.1% >10% Increased consolidation driven by ~1.300 growing structures 309 365 500  Sales consolidation reflects new growth dynamics 2020 2021 2022 2025 target  Ongoing increase of in

71. Slide 71: Peak capex to support double digit growth

    Investor Presentation Financials Peak capex to support double digit growth Germany UK RBSL RHM Hungary Australia; MilVehCoe  IT structure and div.  Mainly modernization  New Lynx production  Production expansion Operational modernization  Capex 2022- 2025  Capex 2022- 2025  Capex 2022- 2025 

72. Slide 72: Milestones in acquisition strategy

    Investor Presentation Acquisitions Milestones in acquisition strategy Zeppelin Drone 4iG Mobile manufacturer Polycharge Systems EMT 25.1% Stake Closing 12/2021 Closing 01/2022 Closing 2022 Closing 03/2022  Positioning further in a  Digitization strategy  Electrification strategy  Digitization st

73. Slide 73: Key Figures

    Investor Presentation Key Figures 2022 2021 2020¹ 2019 2018² SALES/EARNINGS Sales € million 6,410 5,658 5,405 6,255 6,148 Of which generated abroad % 70.5 65.9 64.4 68.9 72.3 Operating result € million 754 594 446 505 491 Operating margin % 11.8 10.5 8.3 8.1 8.0 EBIT € million 731 608 398 512 518 EB

74. Slide 74: Balance Sheet

    Investor Presentation Balance Sheet € million 12/31/2022 12/31/2021 € million 12/31/2022 12/31/2021 Assets Equity and liabilities Goodwill 483 481 Share capital 112 112 Other intangible assets 338 287 Capital reserves 566 561 Right-of-use assets 209 214 Retained earnings 2.140 1.755 Property, plant

75. Slide 75: Income Statement

    Investor Presentation Income Statement Income statement of the Rheinmetall Group for fiscal 2022 € million 2022 2021 Sales 6.410 5.658 Changes in inventories and work performed by the enterprise and capitalized 153 117 Total operating performance 6.563 5.775 Other operating income 221 134 Cost of ma

76. Slide 76: Cashflow Statement

    Investments in property, plant and equipment, intangible assets and investment property (349) (271) Cash inflows from the disposal of property, plant and equipment, intangible assets 19 3 and investment property Investor Presentation Cash inflows from for the disinvestments in consolidated companies

77. Slide 77: Outlook: Group forecast business performance in 2023

    Investor Presentation Outlook Group - forecast business performance in 2023 2023 2022 Sales Group € million sales growth to €7.4 bn to €7.6 bn 6,410 Division Vehicle Systems € million sales growth 25% to 30% 2,270 Division Weapon and Amunition € million sales growth 25% to 30% 1,470 Division Electro

78. Slide 78: Next events and IR contacts

    Investor Presentation Next events and IR contacts Next Events IR Contacts Annual General Meeting 09 May Dirk Winkels Stifel, German Corporate Conference 12 May Head of Investor Relations UBS, Best of Europe Virtual 17 May Tel: +49-211 473-4749 Berenberg Conference USA 23 May Email: dirk.winkels@rhei

79. Slide 79: Disclaimer

    Investor Presentation Disclaimer This presentation contains “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995 with respect to Rheinmetall’s financial condition, results of operations and businesses and certain of Rheinmetall’s plans and object

Rheinmetall — Investor Presentation (May 2023) on 6ix