Metair Investments Limited · JSE:MTA
Metair Investments — Investor Presentation (April 2026)
27 slides from Metair Investments's investor presentation, Apr 16, 2026
Slide 1: Unlock the Stock
Unlock the Stock 16 April 2026
Slide 2: Agenda
Agenda 01 THE SA AUTOMOTIVE INDUSTRY 02 ABOUT METAIR 03 LATEST FINANCIAL RESULTS 04 OUTLOOK AND PROSPECTS 05 Q&A 2
Slide 3: The SA Automotive Industry
01 THE SA AUTOMOTIVE INDUSTRY
Slide 4: Automotive is an important contributor to the SA economy and employment
Automotive is an important contributor to the SA economy and employment Automotive is an important contributor to the SA economy and employment 5.2% Contribution to GDP 115 014 [3.2% Manufacturing; 2.0% Retailing] 33 154 [naamsa]; 81 860 [NAACAM] GDP Employment Contribution 14.7% Export Export 155 [
Slide 5: SA Auto Component sector: a driver of economic value added
SA Auto Component sector: a driver of economic value added SA Auto Component sector: a driver of economic value added Sector statistics Strong export performance, largely in line with targets, however, high reliance on EU market Component exports facing recent decline 80% = tier 1s, supplying OEMs &
Slide 6: Local manufacturing facing challenges
Local manufacturing facing challenges ❑ SA automotive industry is the country’s largest manufacturing sector, at 23% of output ❑ Displacement of locally manufactured vehicles and declining local content due to accelerating import penetration ❑ Intervention required by the government and all automoti
Slide 7: Vehicle volumes in 2025
Vehicle volumes in 2025 SA passenger car and light commercial vehicle production (‘000) 700 649 593 602 600 541 503 500 417 400 300 • New vehicle sales up 16%, but 200 skewed towards imported brands 100 0 • Local vehicle production in 2025 2020 2021 2022 2023 2024 2025 increased by only 1.5% • Volum
Slide 8: About Metair
02 ABOUT METAIR
Slide 9: Metair at a glance
Metair at a glance Automotive Component Manufacturing (OEM) - 66% of revenue Aftermarket Parts and Retail (AFM) – 34% of revenue Original equipment components used in the assembly of new vehicles Components used in the fast-growing aftermarket spare parts market Key products: wiring harnesses, headl
Slide 10: World-class auto manufacturing
World-class auto manufacturing 10
Slide 11: Two distinct segments serve OEM and Aftermarket customers
Two distinct segments serve OEM and Aftermarket customers AUTOMOTIVE COMPONENTS MANUFACTURING AFTERMARKET PARTS AND RETAIL Products Wiring harnesses, instrument cluster / combination Group revenue contribution 10% meters, moulded parts Group revenue contribution 27% Products Group revenue contributi
Slide 12: FY2025: Stabilising Metair & laying the foundation for sustainable growth
FY2025: Stabilising Metair & laying the foundation for sustainable growth Operating Conditions Strategic Interventions Capital structure Foundations for Growth •WeNew determine… vehicle sales grew •WeSimplified determine…structure •WeSustainable determine… debt structure •WeNew determine… Aftermarke
Slide 13: Metair's delivery against priorities
Metair’s delivery against priorities (vs 24 months ago) ✓ Stabilise leadership • Increased HQ strategic control ✓ - Complete • Hold MDs accountable for agreed KPIs • Appoint new executives (CFO, Legal, MAPR) ✓ - In Progress EU Competition Commission ✓ • Fine imposed on European battery producers ✓ A
Slide 14: Metair's growth strategy
Metair’s growth strategy AUTOMOTIVE COMPONENT MANUFACTURING • Drive manufacturing excellence to improve efficiency, quality and cost competitiveness • Continue to strengthen agility and resilience under varying demand-side conditions • Deliver predictable EBITDA and free cash flow • Reduce product c
Slide 15: The Aftermarket opportunity
The Aftermarket opportunity THE AFTERMARKET OPPORTUNITY There are over 13 million registered vehicles in South Africa* …and an estimated 30 million vehicles in the rest of sub-Saharan Africa* The vehicles are aging, requiring more regular replacement of parts AutoZone has 213 retail branches, stocki
Slide 16: New Aftermarket Parts and Retail Division
New Aftermarket Parts and Retail Division Aligned to Group’s strategic focus on diversification through dedicated business divisions • Aftermarket Parts and Retail Division includes five verticals: › AutoZone, MOVE, ATE, First Battery Retail and QSV. • Identified as a sizeable, fragmented market wit
Slide 17: Latest Financial Results
03 LATEST FINANCIAL RESULTS
Slide 18: Significantly improved financial results
Significantly improved financial results REVENUE EBITDA# EBIT# increased 57% to increased 99% to increased 99% to R17.9bn R1 696m R1 087m (F24: R11.4bn) (F24: R852m) (F24: R546m) GROUP NET DEBT HEPS (ex Fine) # ROIC increased to from continuing operations Increased to R3.9bn increased by 86 cents to
Slide 19: Strong underlying operational performance
Strong underlying operational performance AUTOMOTIVE COMPONENTS MANUFACTURING AFTERMARKET PARTS AND RETAIL Products Wiring harnesses, instrument cluster / combination REVENUE REVENUE meters, moulded parts R5.9bn(1) up 8% R4.3bn up 2% Products Automotive batteries, solar EBIT systems, back up systems
Slide 20: Rombat fine fully provided for, and legal remedies being pursued
Rombat fine fully provided for, and legal remedies being pursued €20.2m (~R413m) fine imposed in Dec 2025 on Rombat by the European Commission › Relates to historic industry-wide conduct (2004 – 2017) › Conduct predates Metair’s acquisition of Rombat (2012) › Metair and Rombat actively evaluating le
Slide 21: Improved cash flow
Improved cash flow 207 ( 578) 45 R’ million ( 173) 1 676 ( 588) 22 ( 179) ( 28) 1 212 808 Net Cash Cash generated Working Interest paid Tax paid Dividends Investing Financing Hesto cash Exchange gain Net Cash Dec 2024 before working capital from associates activities activities acquired on cash and
Slide 22: Sustainable debt structure with improved repayment profile
Sustainable debt structure with improved repayment profile Debt is housed within 3 separate, ringfenced structures: • SA Obligor (comprising all SA based companies, excl Hesto) • Hesto (as a standalone obligor) • Rombat SA Obligor (R'm) Hesto (R'm) As at 31 Dec 2025 Type Facilities Maturity As at 31
Slide 23: Disciplined capital allocation
Disciplined capital allocation Capital expenditure Return on invested capital (ROIC) 13(1) 598 569 16 91 11 8 14 13.4 342 313 465 12 11.1 245 248 OEM AFM Managed 10 FY'24 FY'25 associate Maintenance Expansion Health, safety, & Environmental 8 7.1 (1) Capex of R13m relates to Hesto capex as a managed
Slide 24: Outlook and Prospects
04 OUTLOOK AND PROSPECTS Paul O’Flaherty
Slide 25: Outlook
Outlook Positioning our businesses on a growth path Automotive Operating environment Good progress in Focus on areas within manufacturing sector We determine… remains We challenging determine… turnaround We strategy determine… Group’s control We determine… at a crossroads • Strategic government • A
Slide 26: Q&A
05 Q&A
Slide 27: SAAM35 Review | Policy Certainty
SAAM35 REVIEW | POLICY CERTAINTY S A A M 3 5 R E V I E W |P O L I C Y C E R T A I N T Y Externalities Macro-Economic Variables Support The dtic policy support Logistic Infrastructure Cost Stability APDP Economies Labour of scale Competition Costs AIS BBSDP landscape SEZ Free Trade Agreements STRENGT
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