Strictly private and confidential 0 Highly experienced management - - PowerPoint PPT Presentation

A global leader in modular machines for e-mobility

December 2016

Strictly private and confidential

1

Source: Company information

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 24 years at Aumann Engineering degree Sebastian Roll Executive Vice President Finance 17 years at Aumann Business administration degree Constantin Mang Executive Vice President Strategy and Business Development 2 years at Aumann Business and law degree

Highly experienced management team with decades of industry experience

2

“To be the global leader in production machines for e-mobility providers, growing extraordinarily in the light of this revolution in the automotive industry.”

Source: Company information based on IHS data 1) defined as Hybrid Vehicles (HEVs) and fully Electric Vehicles (EVs)

Global production of electric vehicles1)

in million vehicles

Aumann’s mission statement

An e-mobility revolution is underway

3 13 2020 2025 2016 31

3

Aumann‘s focus is at the heart of e-mobility

Source: Pictures Tesla, Continental

E-drivetrain Energy storage E-motor

Rotor Stator Rotor/ Stator winding Automation for mass production

4

Right capabilities Right business Strong growth

Fully automated e-drivetrain production lines … Revenue3)

in million €

Order intake YTD

in million €

Select customers …based on modular machines and unique motor winding technology

+60 %

2015A 2016E

~25%

>150 94 180

Source: Company information based on IHS data, 1) patent number also includes registrations 2) headcount as of Oct. 2016 3) including an acquisition with first consolidation in Nov. 2015

Aumann at a glance

80 years of winding experience 30 years partner of automotive OEMs 41 patents1) proving R&D excellence 5692) highly skilled professionals in 5 locations in Germany, China and USA

~30,000 sqm of shop floor

E-mobility Classic

21 Nov 2016 ..leveraging know-how from special machinery for Aumann’s classic segment

E-mobility Classic

5

1968 Foundation 1936 Foundation 2016 Aumann AG 2015 Becomes part of MBB group 2006 Acquisition of ATS Berlin 2012 First cooperation

▸ E-mobility focus ▸ E-mobility references ▸ Winding technology ▸ Automation know-how and

production scalability

▸ E-mobility experience and

process excellence

▸ OEM relationships

2009 First e-drivetrain project 2011 First e-drivetrain project

Well positioned to become e-mobility champion

Source: Company information

2012 Becomes part

• f MBB group

2013 Set up of presence in China

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Key highlights Strongly growing with e-mobility revolution benefitting very early on Unique winding technology leading to highly efficient e-motors enabling OEMs to scale up to automated mass production Longstanding relationship with automotive OEMs and track record

• f jointly developing landmark e-drivetrain platforms

Growth model with high visibility supported by expanding margins and strong cash flow generation Expansion strategy driven by highly experienced and successful management

1 2 3 4 5

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E-mobility revolution is on its way

Regulation Push Technology Push Consumer Pull

▸ Environmental sustainability ▸ „Cool“ factor

Tesla received around 400k paid reservations for model 3

▸ Emission reduction ▸ Tax benefits and incentives

German Bundesrat wants to abolish ICE production by 2030

MARKET

1

Sources: Company information; http://www.reuters.com/article/us-daimler-usa-diesel-idUSKBN13K1MG; Protocol of the 948th Plenary Session of the German Bundesrat at 23 September 2016; http://fortune.com/2016/04/21/tesla-elon-musk-model-3-orders/

▸ EV range increase ▸ Cost decrease ▸ Charging infrastructure densification

Daimler will spend 10bn € on EV development

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

OEMs and Tier 1 EV Specialists Digital Challengers

MARKET

1

Source: Company information

1

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

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OEMs expand CAPEX into EV component production to meet multiplied e-motor demand

Traction e-motors per produced vehicle

in million

Automotive automation and machinery capex

x4 motors x3 motors x2 motors Electric vehicles

Source: Alix Partners, company information based on IHS data, 2016: one e-motor per vehicle assumed

MARKET

1 1

62 55 26 40 2015 88 2022 95

Electric Diesel/Gasoline

€ 21bn

Drivetrain plants and capex in Europe

2025 126 94 52 63 2016 26 31 3 39 2020 13 +14

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OEM start of development Distributed needle winding Continuous Hairpin

Aumann R&D centre ensures early customer lock-in

Linear winding Flyer winding Concentrated needle winding

Joint optimization with customers on end-product and automated production set-up Machine modules available in R&D centre

Joint

• ptimization

~1 Year

Order intake 1-2 Years OEM start of serial production

Source: Company information

2 TECHNOLOGY

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Aumann direct winding technology improves e-motor efficiency

Less material / lower weight* Less copper wire Less electrical sheet metal Less space* Reduction of winding head Higher energy conversion Increased battery reach More efficient heat dissipation Direct winding technology Conventional Indirect winding technology

• 50 %
• 30 %
• 20 %

* Material, weight and space savings specific to the pump motor shown on the left Source: Company information

2 TECHNOLOGY

“Our technology increases the performance per kilo of motor weight”

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Comparison of processes relates to comparable motors. Source: Company information, Youtube video “Volkswagen e-Up Electric Motor Production”; https://www.youtube.com/watch?v=QgqtT85tMBA; Min 02.53

Direct winding technology is critical to enable fully automated mass production

2 TECHNOLOGY

Wire stress Scrap rate Degree of automation Process flexibility Direct winding technology Conventional Indirect winding technology

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Time Units p.a.

Aumann enabling transformation to industrial scale production

Leaf - 48k Outlander – 20k S - 56k Volt – 34k I3 - 26k

EV/HEV 2.1m Examples of EV or Plug-In HEV production in 2016

Source: Company information based on IHS data

Indirect winding technology for small scale production

Production estimates for 2025 Production estimates for 2020 (example of VW-Group) VW-Group DQe platform – 0.3m

2 TECHNOLOGY E-Up – 5k Qin – 40k

Direct winding technology for mass production

VW/Audi DLe platform – 0.2m Total EV and HEV – 0.9m EV/HEV 5.2m EV/HEV 2.6m EV/HEV 1.9m

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Unique combination of winding and automation capabilities with e-drivetrain experience

Automation experience Winding focus

2 TECHNOLOGY

Source: Company information Select competitors, size of the bubble represents most recently available revenues data. Size is not representative of sales that are above EUR1bn

• Wind. 6
• Wind. 8
• Wind. 3
• Wind. 2
• Wind. 4
• Wind. 5
• Wind. 7

Not ordered within cluster

• Auto. C
• Auto. B

Competitors Known e-drivetrain experience

Direct Indirect none

Aumann

• Auto. D
• Auto. A

low high

Competitive landscape (schematic)

• Auto. E
• Wind. 1

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Close partnership with blue chip customers enabling Aumann’s e-mobility growth

Relationship since 1990 Relationship since 1985 Relationship since 1986 Relationship since 1999

Select longstanding relationships

> € 100 million cumulative revenue each

Participation in landmark e-mobility projects

OEMs Hybrid power trains Driving module and laboratory machines E-motors Pilot series of e-motors in try-out centre Tier-1 Suppliers E-motor E-bike motor manufacturing Other Battery module manufacturing

C B A

3 CUSTOMERS

Source: Company information

Case study Case study Case study

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Case Study: How to become a market leader in built camshafts

3

CUSTOMERS

A

Aumann as provider of innovative technology …with joint development towards new applications …leveraging ICE technology for e-mobility application

Source: Company information

time

schematic market share of

20xx Introduction of active cylinder deactivation 1999 Joint development and first order for camshaft machine 2001 Start of production on first Aumann lines 2005 Machine improvement for variable valve control components 2015 First automation for cylinder deactivation systems 2013 Rotor shaft production (e-mobility application) 2011 Joint development and first order of assembly line for camshaft modules

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Case Study: How to become a market leader in e-bike motors

▸ Longstanding Aumann customer for winding machinery ▸ Motor manufacturing solely conducted on Aumann winding machines ▸ Due to machine complexity, service agreements signed with Aumann ▸ Even as late comer, Bosch has become the market leader in the e-bike premium segment

3

CUSTOMERS

B

Sources: Company information, http://www.bosch-presse.de/pressportal/de/de/rueckenwind-fuer-den-ebike-markt-79296.html

Aumann technology as enabler for market leadership Aumann supplies Bosch as number one e-bike motor producer

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Case Study: How to become a market leader in e-drivetrain production machines

E-drivetrain platform (current) E-drivetrain platform (new)

3

CUSTOMERS

C

▸ Stator production lines ▸ Hybrid module production lines ▸ Fully automated process ▸ Joint R&D with OEM ▸ Patented new winding technology ▸ Stator production lines Pure EV drivetrain platform

Source: Company information

E-drivetrain platforms (future)

Next generation of plug-in hybrid drivetrain platform Mild hybrid drivetrain platform

Aumann as valued R&D partner providing winding and automation for mass production of e-drivetrains

Total volume: approx. € 40m over 3 years

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Increased focus on e-mobility leads to high growth

EBIT Margin

4 FINANCIALS

>10 % ▸ Asset light business model ▸ High cash conversion ▸ Net cash position as of Q3/2016 ▸ Equity of € 40m (32%) as of Q3/2016

Financial highlights

Source: Company information Note: EBIT margin not published but derived from MBB’s segment reporting and Delignit AG’s annual report (slight consolidation deviations could occur) 1) Including an acquisition with first consolidation in Nov. 2015

Revenue1)

in million €

94

~25 %

2015A >150 2016E +60 % Classic E-mobility

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Accelerating order intake supports future sales growth

Order intake YTD

in million €

Hybrid e-motor stator Mild hybrid motor for hybridization of fleet Battery module and cluster production Pure EV e-motor rotor / stator Pure EV e-motor stator Hybrid gearbox manufacturing Battery bay for electric car Automated coil winding production lines Fully automated manufacturing of component Automotive OEM A Automotive OEM A Automotive OEM B Automotive OEM B Automotive OEM C Automotive Tier-1 X Automotive Tier-1 Y Silicon Valley company German household appliance manufacturer

Order Pipeline (selection)

4 FINANCIALS

E-mobility Classic

Source: Company information

YTD 21 Nov 2016 180

E-mobility Classic

– € € – € €

21

Build capacity

Construction of new plants Strategic M&A (capacity, acqui-hire, technology, service)

Source: Company information

To be the global leader in e-mobility production machinery, key initiatives are targeted

Attract talent

Attracting more talent Increasing R&D activity

Expand globally

Rapid build up of USA/NAFTA activities Expand facility in China Service hubs

Strategic priorities and key initiatives

5 STRATEGY

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Experienced management team and committed shareholder with excellent track record

Rolf Beckhoff Ludger Martinschledde Industry holding consisting of six portfolio companies

Top management Shareholder

5 STRATEGY

Chief Executive Officer – Sales and Administration ▸ 13 years with Aumann ▸ Engineering and management degree ▸ Various other technical/sales positions within the automotive equipment supplier industry Chief Executive Officer – Operations and R&D ▸ 24 years with Aumann ▸ Engineering degree ▸ Co-inventor of various technical machine concepts (e.g. built camshaft, camshaft module, active cylinder deactivation, hairpin 2.0) ▸ Founded in 1995 ▸ Listed since 2006 (prime standard) ▸ 71 % ownership by founders M&A track record ▸ 20 years M&A experience ▸ More than 20 transactions ECM track record ▸ IPO of MBB SE ▸ IPO of Delignit AG (majority shareholder since 2003)

Source: Company information

23

Key highlights Strongly growing with e-mobility revolution benefitting very early on Unique winding technology leading to highly efficient e-motors enabling OEMs to scale up to automated mass production Longstanding relationship with automotive OEMs and track record

• f jointly developing landmark e-drivetrain platforms

Growth model with high visibility supported by expanding margins and strong cash flow generation Expansion strategy driven by highly experienced and successful management

1 2 3 4 5

24

Appendix

25

Source: Company information

Global capabilities and client locations

Fort Wayne Changzhou

Espelkamp Berlin-Hennigsdorf Changzhou (China) Fort Wayne (USA) Beelen Installed lines ▸ 160 employees ▸ 6k sqm shop floor ▸ 1.5k sqm office space ▸ 40 employees ▸ 2k sqm shop floor ▸ 1k sqm office space ▸ 27 employees ▸ 3k sqm shop floor ▸ 0.8k sqm office ▸ 2 employees ▸ Sales and Service ▸ 340 employees ▸ 19k sqm shop floor ▸ 2k sqm office space

Espelkamp Beelen Berlin – Henningsdorf

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Leading position in classic drivetrain as basis for accelerating e-mobility segment

Drivetrain technologies and exemplary components addressed by Aumann (illustrative according to Aumann’s segment definition)

Pure EV ▸ Rotor/stator (based on distributed direct winding, continuous hairpin, conventional Hairpin) ▸ Battery structures, clusters and modules ▸ Built rotor shaft Hybrid ▸ Rotor/stator (based on concentrated direct winding, continuous hairpin) ▸ Hybrid modules ▸ Battery structures, clusters and modules Emission improved ICE ▸ Built camshafts ▸ Camshaft modules ▸ Lightweight structural parts ▸ Cylinder deactivation systems ▸ Valve control systems

Source: Company information

time

Hybrid E-mobility Pure EV ICE (Classic) ICE Emission- improved ICE

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Disclaimer

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