Martinrea International Inc. · TSX:MRE
Martinrea International — Q4 2025 Earnings Presentation
27 slides from Martinrea International's earnings presentation, March 2026
Slide 1: Q4 2025 Results
Q4 2025 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 www.martinrea.com | 2
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 www.martinrea.com | 4
Slide 5: Pat D'Eramo, Chief Executive Officer
PAT D’ERAMO CHIEF EXECUTIVE OFFICER ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 5
Slide 6: 2025 Highlights
2025 HIGHLIGHTS Safety continues to be world Generated $199.0M in Free Continued to invest in the class – Total Recordable Injury Cash Flow, a new record for business - ~$238 million in Frequency (TRIF) of 0.71 the Company capital expenditures Maintained a strong balance Resumed share buybacks Adjus
Slide 7: Total Recordable Injury Frequency
TOTAL RECORDABLE INJURY FREQUENCY Martinrea's Company-Wide Safety Performance 9.0 (# OF RECORDABLE INJURIES PER MONTH X 200,000 / TOTAL TOTAL RECORDABLE INJURY FREQUENCY (TRIF) 8.0 8.48 7.0 HOURS WORKED IN EACH MONTH) 6.0 6.36 5.0 4.0 4.57 3.0 3.50 2.88 2.0 2.20 1.0 1.56 1.37 1.21 1.10 0.99 0.71 0.0
Slide 8: 2025 Highlights
2025 HIGHLIGHTS Won multiple supplier awards: Advanced Manufacturing Acquired shares (10% equity Team making progress with stake) in Polyalgorithm machine learning installations Machine Learning Inc. across our plant network (PolyML), a provider of AI machine learning solutions used by Martinrea for
Slide 9: Q4 2025 Highlights
Q4 2025 HIGHLIGHTS $136.0M ADJUSTED EBITDA $1,187.3M $55.1M (11.5% MARGIN) TOTAL SALES ADJUSTED OPERATING INCOME (4.6% MARGIN) $1,126.7M PRODUCTION SALES 1.35x NET DEBT TO ADJUSTED EBITDA (Excluding IFRS-16 Lease Liabilities) ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIA
Slide 10: Fred Di Tosto, President
FRED DI TOSTO PRESIDENT ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 10
Slide 11: Status of Operations
STATUS OF OPERATIONS • We are executing well, driving results through: – Operating improvements on the shop floor – Leveraging investments in AI/machine learning – Recovery of costs related to tariffs and EV volume shortfalls through commercial settlements • Continued strong results in North America
Slide 12: New Business Awards
NEW BUSINESS AWARDS LIGHTWEIGHT STRUCTURES PROPULSION SYSTEMS FLEXIBLE MANUFACTURING GROUP $180M In Annualized Sales $20M In Annualized Sales $10M In Annualized Sales 2027 - 2028 SOP 2026 - 2028 SOP 2025 - 2027 SOP TOTAL AWARDS OVER LAST FOUR QUARTERS $340M In Annualized Sales ©2025 Martinrea Intern
Slide 13: Peter Cirulis, Chief Financial Officer
PETER CIRULIS CHIEF FINANCIAL OFFICER ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 13
Slide 14: Year-Over-Year Comparison
YEAR-OVER-YEAR COMPARISON Q4 2025 results were up year over year on better sales and margins; Q4 2024 impacted by North American OEM inventory shortage In Canadian Dollars Q4 2025 Q4 2024 Production sales were up 7% year over year, or 6% Production Sales $1,126.7M $1,048.6M organically, excluding th
Slide 15: Balance Sheet
BALANCE SHEET NET DEBT - Excluding IFRS-16 ($ Millions) $1,000.0 $900.0 Q4 2025 net debt (excluding IFRS-16 lease liabilities) decreased by approximately $73 $800.0 $955.9 $937.4 million compared to Q3 2025, reflecting the $857.7 $908.7 $889.2 $856.5 $852.1 $820.1 $813.5 $864.9 strong Free Cash Flow
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: 2028 Outlook
2028 OUTLOOK TOTAL SALES $5.3-$5.5B ADJUSTED OPERATING INCOME MARGIN 6.5%-7.0% ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 17
Slide 18: Rob Wildeboer, Executive Chairman
ROB WILDEBOER EXECUTIVE CHAIRMAN ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 18
Slide 19: Trade and Tariffs
TRADE AND TARIFFS ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 19
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: Thank You
THANK YOU Q&A ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com
Slide 22: Appendix
APPENDIX ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com
Slide 23: Q4 Sales
Q4 SALES $1,400 • Total sales up 3.2% year over year: $1,200 – Production sales up 7.4% $1,000 +3.2% YoY – Tooling sales down 40.7% Sales ($ Millions) $800 • North American production sales were up 7.7%, reflecting: $600 $1,150.9 $1,187.3 – Sales contribution from the acquisition of Lyseon North Ame
Slide 24: Q4 Adjusted Operating Income Margin
Q4 ADJUSTED OPERATING INCOME MARGIN 5.0% • Adjusted Operating Income Margin increased 110bps year over year. Adjusted Operating Income Margin (%) 4.0% • North American margin increased year over year, reflecting: − Incremental margins on higher year-over-year production sales. 3.0% − A decrease in t
Slide 25: Q4 Adjusted Net Earnings Per Share
Q4 ADJUSTED NET EARNINGS PER SHARE $0.80 • Adjusted Net Earnings per Share of $0.67 increased year over year, reflecting: Adjusted Net Earnings Per Share ($) $0.60 $0.40 – The factors affecting sales and Adjusted $0.67 Operating Income Margin explained $0.20 earlier. – Lower year-over-year finance e
Slide 26: Q4 Free Cash Flow
Q4 FREE CASH FLOW $120 • Free Cash Flow increased year over $100 year, reflecting: Free Cash Flow ($ Millions) – lower capex. $80 – Higher EBITDA. $60 – Lower cash interest paid. $108.0 – Lower cash taxes paid. $40 $76.4 $20 $0 Q4 2024 Q4 2025 ©2025 Martinrea International Inc. | Do Not Copy or Dist
Slide 27: Stay Connected
STAY CONNECTED ©2025 Martinrea International Inc. | Do Not Copy or Distribute CONFIDENTIAL www.martinrea.com | 27
Martinrea International — Q4 2025 Earnings Presentation on 6ix