Martinrea International Inc. · TSX:MRE
Martinrea International — Investor Presentation (November 2025)
61 slides from Martinrea International's investor presentation, November 2025
Slide 1: Investor Presentation November 2025
INVESTOR PRESENTATION NOVEMBER 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS 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
Slide 3: Why Invest in Martinrea?
WHY INVEST IN MARTINREA? Our financial metrics Our approach to capital are among the best in Our stock is Our innovative allocation adds value our industry. undervalued based on approach to process, and is shareholder standard valuation products, and investing friendly. metrics. is leading edge. • A
Slide 4: Industry Overview
INDUSTRY OVERVIEW www.martinrea.com | 4
Slide 5: US Light Vehicle Sales (SAAR)
US LIGHT VEHICLE SALES (SAAR) U.S. auto sales declined in October, following some pre-buying of EVs ahead of the expiry of the U.S. EV tax credit on September 30, 2025 20 U.S. Light Vehicle Sales (SAAR) 16.3M UNITS Q3 2025 average Millions of Units 15 10 5 15.3M UNITS Jan-2017 Jan-2018 Jan-2019 Jan-
Slide 6: Business Overview
BUSINESS OVERVIEW www.martinrea.com | 6
Slide 7: About Our Company
ABOUT OUR COMPANY • Leading Tier One automotive supplier in lightweight structures and propulsion systems • One of the fastest growing automotive parts suppliers since 2001 • Operating in 57 locations (including sales and engineering centers) in 10 countries: Canada, United States, Mexico, Brazil, G
Slide 8: Vision, Mission & Principles
VISION, MISSION & PRINCIPLES Vision 10 Guiding Principles Making lives better by being the best supplier we can be in Our success will be based on the execution of our the products we make and the services we provide. guiding principles, applied with integrity, in all that we do: Mission We make peo
Slide 9: Our Culture Is a Competitive Advantage
OUR CULTURE IS A COMPETITIVE ADVANTAGE www.martinrea.com | 9
Slide 10: Global Presence
GLOBAL PRESENCE Our footprint is global, though heavily weighted to North America (~75% of sales), which is a positive in the current geopolitical environment. www.martinrea.com | 10
Slide 11: Company Journey
COMPANY JOURNEY Royal Laser Acquires plant Acquires SKD Acquires Acquisition of structural Acquires assets from Oxford Automotive majority of components for of Lyseon North Automotive Honsel passenger cars buisness America Inc. of Metalsa S.A. de C.V. Acquires Rea Acquires Depco Acquires Investments
Slide 12: Our Products and Capabilities
OUR PRODUCTS AND CAPABILITIES Assembly Body-in-White and Chassis Powertrain Fluids Industrial www.martinrea.com | 12
Slide 13: Competitive Landscape
COMPETITIVE LANDSCAPE FLUID MANAGEMENT STEEL METAL FORMING SYSTEMS ALUMINUM COMPONENTS PRIMARY OTHER www.martinrea.com | 13
Slide 14: Our Financial Metrics Are Among the Best in Our Industry
OUR FINANCIAL METRICS ARE AMONG THE BEST IN OUR INDUSTRY LTM Adjusted Operating Income / Adjusted EBIT LTM Free Cash Flow (as a % of Sales) as of Q3 Margin as of Q3 2025 2025 8.0% 7.1% 12.0% 10.6% 10.0% 6.0% 5.4% 5.3% 5.0% 4.8% 4.8% 8.0% 4.3% 4.0% 3.5% 6.0% 3.8% 3.7% 3.5% 4.0% 3.2% 2.0% 1.7% 2.0% 1.
Slide 15: www.martinrea.com | 15
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Slide 16: Martinrea 2.0
Martinrea 2.0 is the framework to be a great company… diverse people and groups working together toward a single vision. • Fostering principles-based leadership • Promoting positive behaviours • Creating a strong lean culture COMPANY • Implementing best practices BUSINESS UNIT Deployment High Financ
Slide 17: Martinrea Operating System
MARTINREA OPERATING SYSTEM Martinrea Operating System initiatives enabled us to double our Adjusted Operating Income Margin over a five-year period from 2014 to 2019 The way we think Pride kills continuous improvement Develop our people - Learn to unlearn – Pride for our people, not for our practice
Slide 18: Process Innovation
PROCESS INNOVATION www.martinrea.com | 18
Slide 19: The Way We Produce
THE WAY WE PRODUCE Past New Typical Material Flow High Frequency Delivery Inefficient Material Flow Efficient Material Flow: Requiring: • Eliminates waste • Higher headcount • Minimizes logistics: • More floor space • Requires 18% less headcount • More WIP • 20% Less floor space www.martinrea.com |
Slide 20: Martinrea Flexible Build Process
MARTINREA FLEXIBLE BUILD PROCESS Demand up 40% Less Capital 18% Less Labour 20% Less Space Demand down Flex Labour with Volume: No Flex labour with Volume: Yes Lifespan: 6 Years Lifespan: 12+ Years Tooling change-over: 4 weeks Tooling change-over: 30 Minutes Service part Capability: None Service par
Slide 21: Product Innovation
PRODUCT INNOVATION www.martinrea.com | 21
Slide 22: Project Breakthrough
Launched in 2019, Project Breakthrough target was to: • Grow revenue and margins by providing engineered products with higher value-added content to our customers o More multi-material content to further lightweight o Create reliable product engineering source to our customers • Create long-term dee
Slide 23: Martinrea's Portfolio
MARTINREA’S PORTFOLIO LIGHTWEIGHT STRUCTURES PROPULSION SYSTEMS FLEXIBLE MANUFACTURING www.martinrea.com | 23
Slide 24: Our Breakthrough Progress
OUR BREAKTHROUGH PROGRESS FRONT AND REAR SUB-FRAMES FRONT RAIL ASSEMBLY • Fully responsible for design, development and validation • Hydro-formed upper tail • Multi-material front subframe • Aluminum high-pressure die cast shock • Low-pressure die cast hollow aluminum rear tower • Structured for opt
Slide 25: Brake Lines with GrapheneGuard
BRAKE LINES WITH GRAPHENEGUARD® Named 2022 Automotive News PACE Award winner • High-performance brake line coating with graphene • Industry leading abrasion protection • Provides up to 25% weight savings • Improved chemical resistance and high temperature performance www.martinrea.com | 25
Slide 26: Recent Awards
‘25 Newsweek Canada’s Most Responsible Company RECENT AWARDS ‘24 APEX Award for Publication Excellence ‘24 Nissan Supplier Diversity Award ’23/24 Toyota Quality Certificate (2023 and 2024) ‘23 Ford Supplier Quality Award Diversity Award ‘23 Nissan Supplier Diversity Award ‘23 Zeekr Excellent Supply
Slide 27: 2025 Awards
2025 AWARDS AWAF Change Champion Award MEMA Workplace Excellence Award MichAuto Volunteer of the Year Reuters Automotive D.R.I.V.E Awards: DEI eMaintenance Company of the Year INA Awards: Tier One Supplier of the Year INA Awards: Executive of the Year Automotive News Canada: 2025 All Stars Automotiv
Slide 28: Innovation Is Core to Our Culture
INNOVATION IS CORE TO OUR CULTURE IDEA RESEARCH Martinrea Technical Center DEVELOP TESTING ANALYSIS INTRO www.martinrea.com | 28
Slide 29: Whatever the Future Holds, Martinrea Will Be a Leader
WHATEVER THE FUTURE HOLDS, MARTINREA WILL BE A LEADER ELECTRIFIED CONNECTED SHARED AUTONOMOUS www.martinrea.com | 29
Slide 30: A Closer Look at EV Transition
A CLOSER LOOK AT EV TRANSITION www.martinrea.com | 30
Slide 31: Addressable Content per Vehicle
ADDRESSABLE CONTENT PER VEHICLE Martinrea is well-positioned for any mix of vehicles and propulsion types www.martinrea.com | 31
Slide 32: Martinrea Innovation Development (MiND)
MARTINREA INNOVATION DEVELOPMENT (MiND) •Incubate, develop and fund innovative PURPOSE technologies that are strategic to Martinrea’s portfolio • Manufacturing support PARTNERS • Product development • Supply chain management • Other functional disciplines MiND • NanoXplore – 22.5% equity interest IN
Slide 33: Effenco
Effenco® designs, manufactures and markets ultracapacitor systems, • The Effenco® Hybrid electric system is focused on which reduces: the heavy-duty vocational truck market. • Effenco® is a Global Cleantech 100 company and a global technology leader in the innovative use of Greenhouse Gas Emissions
Slide 34: Effenco Hybrid, Hybrid S and E-ZEV
Developed Hybrid-S version of the Effenco system utilizing Superbatteries, offering a step change in emission reductions Effenco’s answer to the industry is an evolution of its current product to create a Zero Emission Vehicle perfectly tailored for the heavy-duty vocational market Hybrid Hybrid S E
Slide 35: MiNDCAN
• MiNDCAN provides specialized software that meets the unique needs of complex organizations. • The flagship product is Profit+, an enterprise-wide collaborative platform for cost optimization. • Other modules cover program management, sustainability reporting, and customer relationship management.
Slide 36: Equispheres
Private company developing Equispheres’ powder enables Equispheres’ high-performance technologies for the production printing speeds up to nine times powders have the potential to of advanced materials, including faster than industry standards. enhance design flexibility, high-performance aluminum i
Slide 37: Sustainability
SUSTAINABILITY www.martinrea.com | 37
Slide 38: What Sustainability Means to Martinrea
WHAT SUSTAINABILITY MEANS TO MARTINREA Providing superior long- term investment returns to our stakeholders to Delivering outstanding ensure the future of the quality products and services company that contribute to the safety, Being positive contributors lightweighting, and responsible to our commu
Slide 39: Our Sustainability Journey
OUR SUSTAINABILITY JOURNEY Protecting the Environment Environmental Energy Carbon Renewable Zero Landfill Management Efficiency Emissions Energy Initiative Systems 23% 17% 40% 83% 100% Energy intensity Absolute carbon of electricity of Martinrea facilities All Martinrea’s has reduced by emissions ha
Slide 40: Our Sustainability Journey
OUR SUSTAINABILITY JOURNEY Download the 2024 Sustainability Report at www.martinrea.com www.martinrea.com | 40
Slide 41: Total Recordable Injury Frequency (TRIF)
OUR SUSTAINABILITY JOURNEY Safety Martinrea achieved a Total Recordable Injury Frequency (TRIF) of 0.99 in 2024, well below the industry average Martinrea's Company-Wide Safety Performance (# OF RECORDABLE INJURIES PER MONTH X 200,000 / TOTAL 9.0 TOTAL RECORDABLE INJURY FREQUENCY (TRIF) 8.0 8.48 7.0
Slide 42: Diversity, Equity and Inclusion
OUR SUSTAINABILITY JOURNEY Diversity, Equity and Inclusion • Women comprise 27% of Martinrea’s workforce and 20% of management and above positions • 33% of our Board of Directors is female • Employee Resource Groups (ERGs): MindsMatter is an Employee Young Professionals (YoPro) is Women at Martinrea
Slide 43: Community Involvement
OUR SUSTAINABILITY JOURNEY Community Involvement • Sponsorship of University co-op programs and STEM programs such as First Robotics • Partnership with Givesome to support global outreach through volunteer time, service, and donations www.martinrea.com | 43
Slide 44: Financials
FINANCIALS www.martinrea.com | 44
Slide 45: Sales
SALES 5,500 Assembly business changed to a Driven by 5,340 purchased component consignment model resulting in decrease in 2017 COVID-19 pandemic 430 5,014 4,800-5,100 5,000 and related supply despite same level of production 4,758 277 shortages 302 4,500 In Millions (CAD) 3,968 4,000 3,867 3,864 3,7
Slide 46: Top North American Platforms
TOP 10 NORTH AMERICAN PLATFORMS General Motors T1XX Toyota GA-F Silverado/HD, Sierra/HD, Tahoe, Tacoma, Tundra, Sequoia Yukon/XL, Suburban, Escalade Ford T3 Ford C2/GE1 F-150, F-150 Lightning, F-250/350, Escape, Maverick, Bronco Sport, Navigator, Expedition Mach-E Stellantis DS/DJ Stellantis WL Jeep
Slide 47: Recent New Business Awards
RECENT NEW BUSINESS AWARDS APPROX. ANNUALIZED SOP RANGE APPROX. ANNUALIZED SOP RANGE SALES AT PEAK VOLUME SALES AT PEAK VOLUME $585 M 2021 – 2027 $80 M 2021 $355 M 2021 – 2025 $55 M 2021 - 2024 $295 M 2021 – 2027 $50 M 2021 – 2023 $295 M 2021 – 2025 $45 M 2022 – 2025 $125 M 2022 – 2027 $45 M 2025 –
Slide 48: Adjusted Operating Income Margin
ADJUSTED OPERATING INCOME MARGIN Decrease due to the impact of 9% the UAW-GM strike and higher tooling sales 8% 7.8% 7.5% Recovery of inflationary cost impact ADJUSTED OPERATING INCOME MARGIN % 7% Driven by COVID-19 through commercial activity, pandemic and offset by EV volume weakness. 6.4% 6% rela
Slide 49: Adjusted Net Earnings per Share
ADJUSTED NET EARNINGS PER SHARE EPS supported by share Decrease due to the impact 250 of the UAW-GM strike $2.50 repurchases in 2018, 2019, 2023, and 2024 $2.27 $2.22 $2.22 Driven by slower- Driven by than-expected ramp- $1.91 COVID-19 up of EVs and OEM 200 $2.00 pandemic, inventory correction 193 $
Slide 50: Cash Flow
CASH FLOW OPERATING CASH FLOW - BEFORE CHANGES IN WORKING CAPITAL ($ MILLIONS) Decrease driven by COVID- 19 pandemic and related $800 supply shortages $600 $608 FREE CASH FLOW ($ MILLIONS) $400 $508 $524 $250 $461 $433 $406 $348 $358 $321 $200 $308 $259 $200 $195 $184 $0 $150 2014 2015 2016 2017 201
Slide 51: Q3 2025 Update
Q3 2025 UPDATE www.martinrea.com | 51
Slide 52: Status of Operations
STATUS OF OPERATIONS • We are executing well, driving results through: – Operating improvements on the shop floor – Cost savings through SG&A reduction • Continued strong results in North America with healthy margins. • Break even Adjusted Operating Income in Europe. • Positive Adjusted Operating In
Slide 53: Year-over-Year Comparison
YEAR-OVER-YEAR COMPARISON Q3 2025 results were consistent year over year In Canadian Dollars Q3 2025 Q3 2024 Production Sales $1,159.2M $1,167.3M Production sales were consistent year over year. Tooling Sales $31.6M $70.2M Total Sales $1,190.8M $1,237.5M Adjusted Operating Income $65.0M $65.9M Adjus
Slide 54: Year-to-Date Financial Highlights
YEAR-TO-DATE FINANCIAL HIGHLIGHTS 2025 year-to-date results declined on lower sales volumes, though margins were consistent, reflecting operating improvements and cost reductions from lower SG&A and restructuring benefits. YTD TOTAL SALES YTD ADJ. OPERATING INCOME YTD FREE CASH FLOW $4,000 MARGIN (E
Slide 55: Balance Sheet
BALANCE SHEET NET DEBT - Excluding IFRS-16 ($ Millions) $1,000.0 $900.0 $800.0 Q3 2025 net debt (excluding IFRS-16 lease $955.9 $857.7 $908.7 $937.4 $889.2 $856.5 $852.1 $864.9 liabilities) decreased by approximately $24 $700.0 $820.1 $813.5 $682.4 $782.4 $792.4 $768.1 million compared to Q2 2025, r
Slide 56: 2025 Outlook
2025 OUTLOOK 2025F 2024A FREE CASH FLOW $125-$175M $183.8M (before IFRS 16 lease payments) ($75-$125M including IFRS-16 lease ($131.5 including IFRS-16 lease payments) payments) CAPEX Approximately $300M $275.5M TOTAL SALES $4.8-$5.1B $5.014B ADJUSTED OPERATING 5.3%-5.8% 5.3% INCOME MARGIN Outlook e
Slide 57: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK Invest to Maintain and Maintain Strong Return Capital to Grow Our Business Balance Sheet Shareholders • Organic opportunities • Targeted Net Debt/Adjusted • Repurchase shares with • Invest in R&D and new products EBITDA ratio of ~1.5x or better excess liquidity (at the •
Slide 58: Biographies
BIOGRAPHIES Pat D’Eramo joined Martinrea International Inc. as President and Chief Executive Officer in November 2014 and was elected to the Board of Directors in June 2015. D’Eramo has a long and successful career in the automotive business, with extensive metalforming and parts manufacturing exper
Slide 59: Biographies
BIOGRAPHIES Rob Wildeboer is the Executive Chairman and co-founder of Martinrea International Inc. He brings a deep and intricate knowledge of the Company’s culture, key personnel, strategy, history and development, and relationships with key constituencies such as capital providers and governments,
Slide 60: Biographies
BIOGRAPHIES Fred Di Tosto joined Martinrea International Inc. as Vice President of Finance in June of 2010 and then became the Company’s Chief Financial Officer (CFO) in March of 2011. As of January 2024, Di Tosto took on the role of President. Effective July 1st, 2024, Di Tosto transitioned from Pr
Slide 61: Biographies
BIOGRAPHIES Peter Cirulis was appointed on July 1, 2024, as Chief Financial Officer of Martinrea, reporting to Pat D’Eramo, Chief Executive Officer and to the Company’s Board of Directors. In this position, Peter brings nearly 30 years of international automotive experience in finance, strategy, ope
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