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Linamar Overview Presentation March 2017

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Linamar Overview Presentation March 2017 GENSETS – Working with a Manufacturer Ryan Kemmet March 12, 2018 GENSETS . Linamar Overview . Technology (Technology Readiness) . Transaction . Market (Customers) . Additional funding / Payment . Company & Future . Manufacturing . Process © Linamar Corporation 2 Key Facts Ownership: Public (Listed on the TSX: LNR) Founded: August 17, 1966 Headquarters: Guelph, Ontario, Canada Manufacturing: 60 Facilities Worldwide Key people: ▪ Frank Hasenfratz, Chairman of the Board ▪ Linda Hasenfratz, CEO ▪ Jim Jarrell, President and COO ▪ Dale Schneider, CFO Employees: 28,600+ 2017 Sales: $6.5 Billion (CAD) Profile: Linamar Corporation is a world-class designer and diversified manufacturer of precision metallic powertrain components and systems for the automotive, Linda Hasenfratz, CEO industrial, off-highway and energy markets. Linamar’s Skyjack and MacDon “We’ve completed our 50th year in business! Our companies are noted for their innovative, high quality mobile industrial and harvesting team is now over 24,500 strong. We continually equipment, notably class-leading aerial work platforms, telehandlers, draper headers search for the best, most lean and innovative and self-propelled windrowers. ways to serve customers in diverse markets around the world.” Website: www.Linamar.com © Linamar Corporation 3 Core Capabilities MACHINING & ASSEMBLY FORGING LIGHT METAL CASTING METAL FORMING • CNC Expertise • Hatebur High Speed Hot • Gravity & Low Pressure • Metal Forming • Complex Assemblies Horizontal Forging Aluminum Die Casting • Stamping • Advanced Automation • Conventional Vertical Forging • High Pressure Aluminum & • Painting & Robotics • Cold Forming Magnesium Die Casting • Robotic Welding • Hydroforming • Ring Rolling • Heat Treatment • Radial Forging © Linamar Corporation 4 Product Capabilities Body & Structural Engine . Cross Members . Cylinder blocks, heads and covers . Reinforcement Side Member . Camshaft & Module Systems . Tank Cover Frame . Connecting Rods . Cargo Door Replacement . Balance Shaft Modules . B-Pillars . Fuel System Components . Shock Towers . Turbo Charger Housings . Center Consoles & IP Beams . Niche Engine Assembly . Battery Housings Driveline Systems . Full PTU Assemblies . Full RDU/RDM Transmission Assemblies . Differential Assemblies . Engineered Gears . Clutch Modules . E-Drive . Shaft and Shells Chassis & Wheels . Forged Gears & Ring Gears . Forged Wheel Spindles . Axle Shafts & Rear Differential Carriers . Forged Inner & Outer Rings . Transmission Cases . Steering Knuckles . Niche Transmission Assembly . Control Arms & Structural Components © Linamar Corporation 5 Global Customer Base Light & Commercial Vehicle Off-Highway, Industrial & Energy Aerial Work Platform Agricultural & Recreational © Linamar Corporation 6 Engine Dyno Testing Driveline Systems Testing Transmission System Testing Advanced Gear Lab The Engineering Division of Linamar The combined expertise of a lean manufacturing company with the advanced capabilities of an engineering development house provides OEMs a full service supplier partner capable to jointly develop advanced powertrain solutions.. The McLaren Engineering is a state of the art facility that houses an Advanced Gear Lab, Rapid Rapid Prototyping Teardown Warranty & Analysis Prototype Manufacturing Cell, & Production Scale Manufacturing Simulation Cell. McLaren's capabilities offer a full complement of services that can take any one of these 3 forms: . Fully owned product with black box design responsibilities . Collaborative grey box design, development, prototyping and testing . Contract testing, prototyping, build and fabrication services © Linamar Corporation 7 GENSETS – Technology Readiness . Technology . How developed is the technology? . TRL level . Finalized BOM – Everything is based around the BOM . What prototypes are available to test? . Testing – what has been done / would be useful to use our testing facility . DFM / DFA – Design for Manufacture / Design for Assembly . What can be modified to make the product easier to manufacture / lower cost . Internal manufacturing engineering can and will assist in all manufacturing opportunities . Need to understand form and function and reasoning for current form / function for best DFM/DFA results . Materials, joining, off-the-shelf alternatives, existing / known / alternative manufacturing technologies . Do we need to bring in another CM with a specific skill-set to make a component? © Linamar Corporation 8 GENSETS – Transaction . What does CM want? . Global Supply / Manufacturing Exclusivity . Expected profit from manufacturing . Target for CM is revenue growth, need new products to achieve growth . What does CM offer? . Capitalizing (paying for) scaling of manufacturing* . *some tooling costs are expected to be covered by Customer or Customer’s Customer . Covering majority of working capital . Typically this means the large round manufacturing round investment is not required . Some type of competitiveness clause on pricing . Open Book, Pre-arrange profit, independent verification, rationality limitations, first right of refusal © Linamar Corporation 9 GENSETS – Market . Market . What is the value proposition to the market? . Verified by actual customers . Support business development to find and confirm market . Utilities . Fleets . Large scale users . Where will the future volumes be? (only way to get costs down) © Linamar Corporation 10 GENSETS – Market – 1kW Generator . Markets . All markets are price sensitive . Biggest thing to attack, but working with a CM can help to reduce cost or provide a good idea of what future price can be . Simplicity and materials choices . Typically: . In Automotive / Retail – the initial price is primary driver . In Power – the cost of power (efficiency) is primary driver . Fuel Type Organizations . Most of these can be natural gas powered . Utilities and Energy companies want to sell more gas and have trade groups and innovation funds . Transportation . Military / Aerospace – Weight and Efficiency – this is where can make the higher cost product . Automotive – Cost (size, weight, everything) . Heavy Duty – Cost © Linamar Corporation 11 GENSETS – Market – 1kW Generator . Remote Power Generation . Remote Oil and Gas –Not as sensitive to efficiency (fuel is there) or cleanliness - Not as sensitive to cost if around the price of alternatives – goal of low maintenance . Industrial Remote – telecom tower backup – low maintenance required – clean burning very important - priced less or competitive with alternatives . Private / civilian – very cost sensitive, maintenance must be easy . Military use – weight / size sensitive, efficiency sensitive, minimal cost sensitivity © Linamar Corporation 12 GENSETS – Market – 1kW Generator . Any customer interaction is good and should be fostered regardless of market . Even if you don’t hit that customers targets for any specific metric . It is mostly about how you network, who you know, who you get in front of, that determines if the technology will be accepted . How much better will your change be than baseline or alternative technologies? If only a few percent better, don’t do that and target cost or reliability instead . Make sure it works © Linamar Corporation 13 GENSETS – Payment . How is this going to be paid? . Customer orders for early prototypes? . Private equity / venture funding? . CM to provide funding through note (non-dilutive) or equity investment? . Development on the CM’s dime requires significant market pull and disruption © Linamar Corporation 14 GENSETS – Company & Future . What is the expectation for the company? . Stay as independent entity and create a business? . Sell off IP and move on? . Be acquired / folded into larger company? . Who is developing and identifying the customers? . Who are you? . Why are you doing this? . How are you to work with? . Honesty in all phases of process is very important . Irritable founders do not last long © Linamar Corporation 15 GENSETS – Manufacturing . Manufacture . BOM cost at volume on input . Completed cost at volume . Final price . 20% Return on Amortized Invested Capital / Internal Rate of Return . Inputs (from outside Suppliers) . Burden (cost of facility (sqft & utilities), people to run/inspect/maintain/manage line) . All outside inputs competitively quoted . Multiple suppliers of machining / assembly line surveyed and quoted © Linamar Corporation 16 GENSETS – Manufacturing . Cost estimations . Typical high volume automotive costs are a function of: . Raw Material Cost (Biggest contributor typically) . Processing of that material . Pre-processing – Casting, Forging, Billet, Sheet . Cost determined by operation, Priced per lb typically . Machining / Fabrication . Cost determined by time, machine capital depreciation, and wear / use items . Assembling materials . Cost determined by time, machine capital depreciation . Testing assembly . Cost determined by time, machine capital depreciation, additional testing inputs . Inspection . Anywhere during process where inspection required add costs of some kind © Linamar Corporation 17 GENSETS – Process . Everything looks good – how do we proceed? . LOI – letter of intent . Formal Definitive Agreement . BOM Review . Determine manufacturing group / groups . DFM/DFA . Prototypes . Validation . Prototypes (Attempt to get customers to be purchasers / users of early phase prototypes) . Validation (repeat until pass) . Production © Linamar Corporation 18 @linamarcorp @linamarcorp Thank You Linamar Corporation www.linamar.com Linamar Corporation.
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