Martinrea International Inc. · TSX:MRE
Martinrea International — Q1 2026 Earnings Presentation
29 slides from Martinrea International's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Results
Q1 2026 RESULTS ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com
Slide 2: Rob Wildeboer, Executive Chairman
ROB WILDEBOER Executive Chairman ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 3: 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 4: Agenda
Agenda Pat D’Eramo | Chief Executive Officer Fred Di Tosto| President Peter Cirulis| Chief Financial Officer Rob Wildeboer| Executive Chairman Q&A ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 5: Pat D'Eramo, Chief Executive Officer
PAT D’ERAMO Chief Executive Officer ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 6: We Are a Great Operator
WE ARE A GREAT OPERATOR Our Plants are World-Class Relentless Focus on Innovation • Margin profile at the upper end of our peer group. • Advanced Manufacturing Team (AMT) making progress with • Industry-leading safety record. machine learning installations. • Continued strong employee survey results
Slide 7: Q1 2026 Highlights
Q1 2026 HIGHLIGHTS $137.7M ADJUSTED EBITDA $1,125.4M $61.6M (12.2% MARGIN) TOTAL SALES ADJUSTED OPERATING INCOME (5.5% MARGIN) $1,082.2M PRODUCTION SALES 1.60x NET DEBT TO ADJUSTED EBITDA (Excluding IFRS-16 Lease Liabilities) ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIA
Slide 8: Fred Di Tosto, President
FRED DI TOSTO President ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 9: Status of Operations
STATUS OF OPERATIONS • Continued strong operational execution, driven by: – Operating improvements on the shop floor – Leveraging investments in AI/machine learning – Continued commercial settlements to recover costs from tariffs and EV volume shortfalls • North America continues to be the growth an
Slide 10: New Business Awards
NEW BUSINESS AWARDS LIGHTWEIGHT STRUCTURES $90M In Annualized Sales 2027 - 2028 SOP TOTAL AWARDS OVER LAST FOUR QUARTERS $370M In Annualized Sales ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 10
Slide 11: Recent Takeover Business Wins
RECENT TAKEOVER BUSINESS WINS ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 11
Slide 12: Sales by Customer
SALES BY CUSTOMER 2018 Actual Sales 2026 Budgeted Sales 19% 15% 4% 9% 11% 14% 71% 59% NA OEMS German OEMS Japan OEMS Other NA OEMS German OEMS Japan OEMS Other ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 12
Slide 13: Peter Cirulis, Chief Financial Officer
PETER CIRULIS Chief Financial Officer ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 14: Strong Cash Generation Fueling Capital Returns
STRONG CASH GENERATION FUELING CAPITAL RETURNS FREE CASH FLOW NET DEBT TO LTM ADJUSTED EBITDA Excluding IFRS-16 Lease Payments ($ Millions) 3.50 $225 3.00 3.11x $175 $195 $199 2.50 $184 $125 $125-175 2.00 2.11x 1.95x $115 1.50 $75 1.64x 1.60x 1.41x 1.40x 1.47x 1.50x 1.50x 1.00 1.35x $62 $25 $49 0.50
Slide 15: Year-over-Year Comparison
YEAR-OVER-YEAR COMPARISON Q1 2026 results were consistent year over year, as modestly lower production sales were offset by better margins. Q1 results improved quarter over quarter vs. Q4 2025. In Canadian Dollars Q1 2026 Q1 2025 Production sales were down 4% year over year, largely Production Sales
Slide 16: 2026 Outlook
2026 OUTLOOK 2026F 2025A FREE CASH FLOW $125-$175M $199.0M (before IFRS 16 lease payments) ($70-$120M after IFRS-16 lease payments) ($142.1 after IFRS-16 lease payments) CAPEX Approximately $300M $237.7M ADJUSTED OPERATING 5.5%-6.0% INCOME MARGIN 5.6% TOTAL SALES $4.5-$4.9B $4.822B Outlook excludes
Slide 17: Rob Wildeboer, Executive Chairman
ROB WILDEBOER Executive Chairman ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL
Slide 18: Martinrea – 2014 vs. Today
MARTINREA – 2014 VS. TODAY Martinrea 2014 Martinrea Today Grew sales over 30% and Adjusted Oeprating Income more than 80% since LTM Total Sales $3,598.6M $4,779.0MM 2014 LTM Adjusted Operating Income $147.7M $267.8M Adjusted Operating Income Margin 4.1% 5.6% Adjusted Operating Income Margin LTM Adju
Slide 19: Significant Embedded Value
SIGNIFICANT EMBEDDED VALUE EV/NTM EBITDA 7.0x EV/Next 12 Months EBITDA 6.0x Trading at a substantial discount vs. pre-pandemic average despite 5.0x significantly higher Free Cash Flow 4.0x Pre-Covid Average = 4.0x and lower debt Metrics. 3.0x 2.0x 3.50 3.00 3.11x 2.50 2.00 2.37x 2.16x 2.11x 1.89x 1.
Slide 20: 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 21: Free Cash Flow Deployment
FREE CASH FLOW DEPLOYMENT Over the last three years, we generated close to $600 million in Free Cash Flow, reduced net debt by over $200 million, and repurchased approximately $100 million of our shares, representing 12% of the Company’s equity. 3-Year Cumulative FCF Deployment (2023-2025) $600 $500
Slide 22: Trade and Tariffs
TRADE AND TARIFFS ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 22
Slide 23: Thank You / Q&A
THANK YOU Q&A ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com
Slide 24: Appendix
APPENDIX ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com
Slide 25: Q1 Sales
Q1 SALES • Total sales down 3.7% year over year: $1,200 – Production sales down 3.9% $1,000 -3.7% YoY – Tooling sales up 1.5% $800 • North American production sales were down 5.4%, reflecting: Sales ($ Millions) – Lost sales from the Ford Escape program, which ended production $600 $1,168.2 $1,125.4
Slide 26: Q1 Adjusted Operating Income Margin
Q1 ADJUSTED OPERATING INCOME MARGIN 6.0% • Adjusted Operating Income Margin increased 20bps year over year. Adjusted Operating Income Margin (%) • North American margin increased year over year, reflecting: − Productivity and efficiency improvements. 4.0% − Higher year-over-year favourable commercia
Slide 27: Q1 Adjusted Net Earnings per Share
Q1 ADJUSTED NET EARNINGS PER SHARE $0.50 • Adjusted Net Earnings per Share of $0.45 increased year over year, reflecting: Adjusted Net Earnings Per Share ($) $0.40 – The factors affecting sales and Adjusted Operating Income Margin explained $0.30 earlier. $0.45 – Lower finance expense owing to lower
Slide 28: Q1 Free Cash Flow
Q1 FREE CASH FLOW $0 • Free Cash Flow was negative in the first quarter of 2026 reflecting a normal seasonal build in non-cash Free Cash Flow ($ Millions) ($10) ($25.4) working capital, and was lower year ($35.2) over year, reflecting: ($20) – An increase in cash used in non- cash working capital. (
Slide 29: Stay Connected
STAY CONNECTED ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 29
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