A global leader in modular machines for e-mobility

0

Company presentation, 27 February 2017

Rolf Beckhoff

Chief Executive Officer

Sales and Administration

13 years at Aumann

Engineering and management degree

Ludger Martinschledde

Chief Executive Officer

Operations and R&D 25 years at Aumann Engineering degree

Sebastian Roll

Chief Financial Officer

Finance and Controlling

17 years at Aumann

Business administration degree

Constantin Mang

Executive Vice President

Strategy and Business Development

2 years at Aumann Business and law degree

Source: Company information 1

Global production of electric vehicles ("EVs")1)

in million vehicles

32

CAGR +39%

13

2

Recent quotes

CARS 2025: CHANGE IN THE FAST LANE

The global automobile industry is entering a disruptive new era

Electro-mobility - a technological revolution in full force Electric cars will be here sooner than you think New sources of disruption ahead for the global auto industry A watershed moment for the automotive industry Full electrification finally eliminates the business case of diesels

2015

2020e

2025e

Global Automotive Executive Survey

The countdown for disruption has already started

Source: Company information based on IHS data

1) defined as hybrid Vehicles (full and mild) and pure electric vehicles incl. range extender and fuel cell; rounded figures 2

Energy storage E-motor

E-drivetrain

Source: Pictures Tesla, Continental

Rotor

Stator

Rotor/ Stator winding

Automation for mass production

3

Right business Right capabilities Strong growth

Fully automated e-drivetrain production lines …

80 years of winding experience 30 years partner of automotive OEMs 6751) highly skilled professionals

Revenue2)

in million

CAGR +27%

156

EBIT-Margin

…based on modular machines and unique motor winding technology…

5 locations in Germany, China and USA 32,000 sqm of shop floor

96

2014A

122

2015A/

as-if

42

114

2016A

E-mobility Classic

17%

9%

..leveraging know-how from special machinery of Aumann's Classic segment

Select customers

Order intake

in million

CAGR +51%

141

190

51

E-mobility

83

2014A

2015A

139

2016A

Classic

Source: Company information based on IHS data,

  1. headcount incl. trainees and temporary workers as of 2016 year end 2) incl. an acquisition with first consolidation in Nov. 2015; 2015 therefore shown as reported and as-if the acquired entities had been part of the group for the full year 4

    1. Strongly growing with e-mobility revolution benefitting very early on

    2. Unique winding technology leading to highly efficient e-motors enabling OEMs to scale up to automated mass production

    3. Longstanding relationship with automotive OEMs and track record of jointly developing landmark e-drivetrain platforms

    4. Growth model with high visibility supported by expanding margins and strong cash flow generation

    5. Expansion strategy driven by highly experienced

    6. and successful management

      5

      The e-mobility revolution is driven by strong forces

      Technology Push

      Cost decrease

      EV range increase

      Charging infrastructure densification

      Daimler will spend € 10bn on EV development

      Regulation Push

      Emission reduction

      Tax benefits and incentives

      Consumer Pull

      Coolness factor

      Smart cars (autonomous driving)

      Environmental sustainability

      Tesla received around 400k paid reservations for model 3

      Chinese legislation strengthens e-mobility with required share of EV's starting 2018

      Source: Company information; Reuters.com; Süddeutsche Zeitung 6

      Aumann's machines will be needed by all contestants of the e-mobility revolution

      OEMs and Tier 1 EV Specialists Digital Challengers

      "No matter who will prevail in the mobility revolution, they will want Aumann's machines for e-drivetrain manufacturing"

      Source: Company information 7

      The manufacturing process is core to the e-mobility revolution with machinery

      investments two years ahead of the production of EVs

      The importance of machinery

      Machinery orders two years ahead

      Elon Musk, EV pioneer

      "Where the greatest potential is - is

      building the machines that make the machine."

      "[…] they will ultimately deserve

      an order of magnitude more attention in engineering than what they produce."

      Source: Tesla Shareholder Meeting 2016 and press release; company information; pictures: Volkswagen I.D.

      EV concept development

      Design freeze

      Order of production machinery

      Manufacturing of

      production machinery Pilot production

      EV Start of serial production

      R&D involvement

      ~2 years

      8

      Aumann's core markets and customers expected to grow significantly faster than the

      overall EV market

      Aumann's core regions growing faster

      Production of EVs by regions (in million units)

      Aumann's core customers gaining EV market share

      E-drivetrain production of selected OEMs/Tier-1s (in million units)

      Total EV market

      CAGR +29%

      Total EV market

      CAGR +29%

      Core markets

      CAGR +41%

      Core Customers

      CAGR +52%

      32.1 32.1

      Japan/Korea

      2.5

      36%

      2015

      83%

      2025e

      EMEA

      Americas

      Greater China

      South Asia

      2.5

      9%

      2015

      Further potential

      44%

      2025e

      VW

      Continental Valeo Bosch BMW

      Daimler Magna

      Source: Company information based on IHS data 9

      The number of traction motors and the number of sensors/actuators per car is

      expected to increase

      Increasing number of traction motors per car

      in million units

      Increasing number of sensors and actuators per car

      128

      x 4 motors

      Today's car:

      ~30 sensors

      Tomorrow's car

      >100 sensors

      ~ 200 motors/ actuators

      2

      2015

      52

      39

      26

      13

      2020e

      96

      64

      32

      2025e

      x 3 motors

      x 2 motors

      Estimated average

      Electric vehicles

      Example: Active damper for suspension

      Source: Company information based on IHS data and interenational research study on the Global 48V Power-net Market; picture: Audi 10

      Aumann direct winding technology improves e-motor performance, weight and quality

      Direct winding technology

      Conventional

      Indirect winding technology

      Less material / lower weight1)

      Less copper wire

      Less electrical sheet metal

      Less space1)

      Reduction of winding head

      Higher energy conversion

      Increased battery reach

      More efficient heat dissipation

      - 50%

      - 30%

      - 20%

      "Our technology increases the performance per kilo of motor weight"

      1) Material, weight and space savings specific to the pump motor shown on the left

      Source: Company information, Fleischer et al. "Quo Vadis Winding Technology?" (2017) 11

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