Linamar Corporation · TSX:LNR
Linamar — Q4 2025 Earnings Presentation
41 slides from Linamar's earnings presentation, Mar 4, 2026
Slide 1: Q4 2025 Earnings Call
Q4 2025 Earnings Call March 4th, 2026 Linda Hasenfratz EXECUTIVE CHAIR Jim Jarrell CEO & PRESIDENT Dale Schneider CFO For Audio Only Dial In North America: (+1) 800 549-8228 International: (+1) 289 819-1520 Conference ID: 91232 © Linamar Corporation
Slide 2: Forward-looking Information, Risk, and Uncertainties
Forward-looking Information, Risk, and Uncertainties Certain information regarding Linamar set forth in this presentation and oral summary, including management’s assessment of the Company’s future plans and operations may constitute forward-looking statements. This information is based on current e
Slide 3: Agenda
Agenda Q4 & FY 2025 Highlights & Strategic Updates Linda Hasenfratz EXECUTIVE CHAIR Industry & Operations Update Jim Jarrell CHIEF EXECUTIVE OFFICER & PRESIDENT Financial Review & Outlook Dale Schneider CHIEF FINANCIAL OFFICER Q&A All © Linamar Corporation 3
Slide 4: Q4 & FY2025 Highlights & Strategic Updates
Q4 & FY2025 Highlights & Strategic Updates Linda Hasenfratz EXECUTIVE CHAIR © Linamar Corporation 4
Slide 5: Consistent, Long-term Performance
Consistent, Long-term Performance Consistent, Sustainable Flexibility to Growth Driving from Mitigate Risk Diversity Capital Asset Profile enables us to redeploy under-utilized equipment Diversified revenue streams, to changing market needs, broad product portfolio for a synergistic balanced busines
Slide 6: Highlights of 2025 Performance
Highlights of 2025 Performance Entrepreneurial, Another Year of Record Earnings Including 34% Growth in Mobility Segment Earnings Opportunistic, Technology Driven Growing Technology Portfolio and Growth Prospects Through Opportunistic Acquisition -- Delivering Great Growth for Today Almost $1 Billio
Slide 7: Q4 2025: Strong Earnings Growth & Cash Flow
Q4 2025: Strong Earnings Growth & Cash Flow Net Earnings & EPS Sales Margin1 Free Cash Flow1 (Normalized) 1 (Normalized) $2.5B $136.4M $2.28 $362.4M 5.4% 5.9% 22.0% 25.3% $128.4M vs. Q4 ‘24 vs. Q4 ‘24 vs. Q4 ‘24 vs. Q4 ‘24 1- Net Earnings (NE) – Normalized, Net Earnings (Loss) Per Share – Diluted –
Slide 8: FY 2025: Record Earnings For Second Consecutive Year
FY 2025: Record Earnings For Second Consecutive Year Net Earnings & EPS Sales Margin1 Free Cash Flow1 (Normalized) 1 (Normalized) $10.2B $622.1M $10.36 $937.2M 6.1% 3.3% 2.9% 5.6% $148.9M vs. FY ‘24 vs. FY ‘24 vs. FY ‘24 vs. FY ‘24 1- Net Earnings (NE) – Normalized, Net Earnings (Loss) Per Share – D
Slide 9: Tariffs – Manageable, Creating Opportunities
Tariffs – Manageable, Creating Opportunities 232 Foreign Steel Section 122 Section 122 & 301 & Aluminum & Foreign Built Tariffs Tariffs Derivatives Vehicles Auto Parts Canada/Mexico Outside NA Retaliatory Tariffs 50% Applied to Metals and Non- 25% 25% 10%-15% 10%-100% US Metal Content of >900 25% on
Slide 10: Opportunities for Linamar
Opportunities for Linamar Onshoring to USMCA Acquisition compliant Opportunities suppliers Already Discussing Supply Base Distress in US Opportunities with and Europe Extreme Customers ▪ NBW and quoting activity strong in all regions ▪ 2 Distressed Acquisitions Completed to Date ▪ Portfolio expansio
Slide 11: Culture – Defining Factor in Linamar's Success in Challenging Times
Culture – Defining Factor in Linamar’s Success in Challenging Times ENTREPRENEURIAL RESPONSIVE INNOVATIVE EXECUTE © Linamar Corporation 11
Slide 12: Industry & Operations Updates
Industry & Operations Updates Jim Jarrell CEO & PRESIDENT © Linamar Corporation 12
Slide 13: © Linamar Corporation
obey pi : ; ae RESILIENCES INTEGRITY TEAMWORK REVENUE INCOME | TEAM @ LINAMAR
Slide 14: Global Light Vehicle Production
Global Light Vehicle Production Industry LV Volumes Industry Outlook Commentary FY2025 FY2026 Actual Expectation North 2025 North American market ended year better than America -1.0% -2.2% expected, down 1.0%. 2026 expected to be down on increased pricing pressure. Europe -1.2% -0.4% Europe stronger
Slide 15: Strong CPV Growth Driven by North America
Strong CPV Growth Driven by North America Global CPV $90.00 Regional Content Per Vehicle Q4 ’24 Q4 ‘25 %∆ $80.00 North America $276.19 $329.35 +19.2% Europe $87.61 $92.82 +5.9% $70.00 Asia Pacific $10.39 $10.43 +0.4% $60.00 FY 2024 FY 2025 1 - Global CPV includes only the markets that Linamar serves
Slide 16: Takeover NBWs in Q4
Takeover NBWs in Q4 Cross Member & Crankcase Assembly • Takeover new business wins from competitors in China and Europe for structural components and crankcase assemblies. $1.5B in 2025 Mobility New New Programs With Asian OEMs Business Wins Camshafts & Balance Shaft Assembly • Accelerating growth w
Slide 17: Continued Growth in a Challenging Market Environment
Continued Growth in a Challenging Market Environment Skyjack Unit Performance Industry Access Volumes Skyjack Q4 Unit FY2026 Skyjack FY25Total Expectation Total Unit North 15.9% 12.1% America 1.4% VS VS Europe 1.0% Global Market Global FY25 Q4 Total Market -19.0% Asia -1.5% Pacific & ROW -5.3% Globa
Slide 18: Recognized Excellence and Strategic Product Expansion
Recognized Excellence and Strategic Product Expansion Skyjack – 2025 Supplier of The Year New Product Launch Recognized by United Rentals for earning the 2025 Launched the new SJ28 TE+ All Electric Telescopic Supplier of the Year Award, reflecting exceptional Boom in China and South-East Asia perfor
Slide 19: Market Share Growth Helping to Offset Weak Agriculture Market
Market Share Growth Helping to Offset Weak Agriculture Market Industry Large Ag Volumes Linamar Agriculture 2025 Market Share Performance FY2025 FY2026 Actuals Forecast North America 26.0% 17.5% Europe 5.0% 2.5% Combine Tillage Market Air Seeder Header Market share up in Rest of World 0% 0% share up
Slide 20: Award Winning Agriculture Innovation
Award Winning Agriculture Innovation Industry Recognition Linamar’s Agriculture Brands ALL received 2026 AE50 Awards for top innovative agricultural products released to the market in the past year: FD2 PLUS FlexDraper AB230CD Chassis-Mounted Air Boom Bourgault Intelligent Control–BiC Adds more than
Slide 21: Diversified Manufacturing Taken to Another Level
Diversified Manufacturing Taken to Another Level Mobility Access Advanced Manufacturing & Product Development Technologies that Power Vehicles, Motion, Work Agriculture and Lives for the future MedTech Power Water Robotics Defense © Linamar Corporation
Slide 22: Financial Update & Outlook
Financial Update & Outlook Dale Schneider CFO © Linamar Corporation 22
Slide 23: Continued Mobility Margin Expansion
Continued Mobility Margin Key Factors: Mobility Revenue Expansion +12.9% vs Q4 ‘24 • Increased sales related to the acquisition of Aludyne’s North American operations in Q4 2025 • Impact on sales from the changes in foreign exchange rates from Q4 2024; and • Increased sales related to launching prog
Slide 24: Headwinds in Industrial Markets
Key Factors: Industrial Headwinds in Industrial Markets Revenue -13.2% vs Q4 ‘24 • • Revenue Normalized Operating Earnings 1 (in Millions CAD) (in Millions CAD) • -19.4% Normalized OE 1 $3,093.6 -25.7% vs Q4 ‘24 $2,494.3 -30.4% • $516.2 • • $359.5 • -13.2% -25.7% Normalized OE Margin 1 $637.1 $553.1
Slide 25: Strong Liquidity and Balance Sheet
Strong Liquidity and Balance Sheet Net Debt to EBITDA1 Total Liquidity2 Current Positioning (in Millions CAD) Cash Position Net Debt to EBITDA 1 was 0.77x at the end of Peer FY25 Avg. 3 Available cash on credit facilities Q4 2.66x $2.1B Cash Position at the end of Q4 was $911 $1.8B million ▪ Down 14
Slide 26: Share Buyback Update
Status of Share Repurchases • 2025 NCIB program to date has retired about 462 thousand shares • To date, Linamar has returned nearly $39 million to shareholders as a result • Total cash returned since November 2024 near $139 million and ~2.2 million shares Share Current NCIB Program Details Buyback
Slide 27: Segmented Outlook Q1 2026 Guidance
Segmented Outlook Q1 2026 Guidance Q1 2026 Latest Mobility Outlook Sales Growth (%) Double-Digit Growth 1 Normalized OE Growth (%) Double-Digit Growth 1 Normalized Operating Margin (%) Expansion Normal Range 7.0-10.0% Within Normal Range Industrial Sales Growth (%) Decline 1 Normalized OE Growth (%)
Slide 28: Outlook FY 2026 Guidance
Outlook FY 2026 Guidance FY 2026 Outlook FY 2026 Outlook Assumptions: FY 2026 Latest Consolidated Outlook Provided on Nov 12, • Strong Mobility segment growth on 2025 launches and acquisitions Sales Growth (%) Growth Growth somewhat tempered by Industrial market declines 1 Normalized EPS Growth (%)
Slide 29: © Linamar Corporation
© Linamar Corporation 29
Slide 30: Outlook FY 2026 Guidance
Outlook FY 2026 Guidance FY 2026 Outlook FY 2026 Outlook Assumptions: FY 2026 Latest Consolidated Outlook Provided on Nov 12, • Strong Mobility segment growth on 2025 launches and acquisitions Sales Growth (%) Growth Growth somewhat tempered by Industrial market declines 1 Normalized EPS Growth (%)
Slide 31: Key Message
Key Message Entrepreneurial, Another Year of Record Earnings Including 34% Growth in Mobility Segment Earnings Opportunistic, Technology Driven Growing Technology Portfolio and Growth Prospects Through Opportunistic Acquisition -- Delivering Great Growth for Today Almost $1 Billion in Free Cash Flow
Slide 32: Kevin Hallahan
Kevin Hallahan Vice President, Investor Relations & Marketing Linamar Corporation kevin.hallahan@linamar.com 519-836-7550 https://www.linamar.com/investors/ © Linamar Corporation
Slide 33: Appendix
Appendix © Linamar Corporation
Slide 34: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses certain Non-GAAP and other financial measures to provide useful information to both management, investors, and other stakeholders in assessing the financial performance and financial condition of the Company. Certain expenses and income that must be recog
Slide 35: Industrial Sales, Earnings, and Margins
Industrial Sales, Earnings, and Margins (in Millions CAD) Q4 2025 Q4 2024 +/- +/- FY 2025 FY 2024 +/- +/ - $ $ $ % $ $ $ % Sales 553.1 637.1 (84.0) (13.2%) 2,494.3 3,093.6 (599.3) (19.4%) Operating Earnings 42.8 152.9 (110.1) (72.0%) 329.3 589.2 (259.9) (44.1%) Foreign Exchange1 25.1 (61.5) 86.6 30.
Slide 36: Mobility Sales, Earnings, and Margins
Mobility Sales, Earnings, and Margins (in Millions CAD) Q4 2025 Q4 2024 +/- +/- FY 2025 FY 2024 +/- +/- $ $ $ % $ $ $ % Sales 1,962.2 1,738.6 223.6 12.9% 7,737.5 7,488.4 249.1 3.3% Operating Earnings 125.9 (302.4) 428.3 - 562.8 22.1 540.7 2,446.6% Foreign Exchange1 6.2 9.0 (2.8) 11.6 22.5 (10.9) (Ga
Slide 37: Net Earnings (Loss) – Normalized
Net Earnings (Loss) – Normalized1 (in Millions CAD) Q4 2025 Q4 2024 +/- +/- FY 2025 FY 2024 +/- +/- $ $ $ % $ $ $ % Net Earnings (Loss) 110.7 (232.3) 343.0 - 584.5 258.3 326.2 126.3% Foreign Exchange2 31.3 (52.5) 83.8 41.8 (66.3) 108.1 (Gain)/Loss Foreign Exchange (Gain)/Loss on 0.1 - 0.1 0.1 1.0 (0
Slide 38: Net Earnings (Loss) per Share – Diluted – Normalized
Net Earnings (Loss) per Share – Diluted – Normalized1 Q4 2025 Q4 2024 +/- +/- FY 2025 FY 2024 +/- +/- $ $ $ % $ $ $ % Net Earnings (Loss) 1.85 (3.78) 5.63 - 9.73 4.19 5.54 132.2% per Share - Diluted Foreign Exchange2 0.52 (0.86) 1.38 0.70 (1.08) 1.78 (Gain)/Loss Foreign Exchange (Gain)/Loss on Debt
Slide 39: Free Cash Flow & Capital Investment
Free Cash Flow1 & Capital Investment (in Millions CAD) Q4 2025 Q4 2024 FY 2025 FY 2024 (in millions of dollars) $ $ $ $ Cash generated from (used in) operating activities 471.4 497.6 1,330.8 1,254.0 Payments for purchases of property, plant and (109.6) (66.3) (404.2) (532.6) equipment (CapEx) Procee
Slide 40: Linamar's Powerful Balanced & Diversified Business Model
Linamar’s Powerful Balanced & Diversified Business Model INDUSTRIAL SEGMENT focused on North America, Cash for Continued Brand generates cash and shares brand Investment Management management knowledge. Strong Profit Consistent Free Strong, Stable Sustainable MOBILITY SEGMENT Margins Cash Flow Balan
Slide 41: Kevin Hallahan
Kevin Hallahan VP, Investor Relations & Marketing Linamar Corporation kevin.hallahan@linamar.com 519-836-7550 https://www.linamar.com/investors/ © Linamar Corporation