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Fixed Income Presentation Q1 2021 Daimler AG

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Fixed Income Presentation Q1 2021 Daimler AG Fixed Income Presentation Q1 2021 Daimler AG Daimler AG Fixed Income Presentation | Q1 2021 1 AGENDA I. DAIMLER AG REVIEW Q1 2021 II. DIVISIONAL REVIEW Q1 2021 III. OUTLOOK 2021 IV. PROJECT FOCUS V. FUNDING VI. SUSTAINABILITY Daimler AG Fixed Income Presentation | Q1 2021 2 Daimler: Key messages ▸ Q1 margin at Mercedes-Benz Cars & Vans demonstrates strength of portfolio and ability to lower break-even point ▸ Excellent Net Industrial Liquidity & effective Working Capital management ▸ Project Focus: spin-off and listing of Daimler Truck in preparation ▸ World premieres of EQS, EQA and EQB underline ambition to lead in electric drive and car software with high-tech luxury EVs Daimler AG Fixed Income Presentation | Q1 2021 3 Daimler: Key figures Free Cash Net Industrial Sales Revenue EBIT EBIT adj. in thousand units in billion euros in billion euros in billion euros Flow (IB) Liquidity in billion euros in billion euros 729 41.0 644 20.1 37.2 5.7 1.8 5.0 +13% +10% +832% +591% +4.1 9.3 117% 0.6 0.7 -2.3 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 3/31/2020 3/31/2021 For more details on financials please see Daimler Capital Market Presentation Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 4 Daimler Q1 2021 reconciliation from CFBIT to Free Cash Flow: On our way towards a cash flow oriented culture +1,022 2,832 in million euros +621 -355 -100 -126 1,968 -198 1,810 • Legal proceedings +1,063 • Restructuring measures +550 • M&A transactions -591 CFBIT CFBIT Income Interest Effects from Other Free cash flow Adjustments Free cash flow Mercedes-Benz Daimler taxes paid Pensions reconciling (industrial business) (industrial business) Cars & Vans Trucks & Buses paid* items adjusted * includes internal tax prepayments from Daimler Mobility to the industrial business Daimler AG Fixed Income Presentation | Q1 2021 5 Daimler Net Industrial Liquidity: Healthy Net Cash position leaves us with significant financial flexibility in billion euros +1.8 -1.9 +0.6 +0.5 +0.4 20.1 17.9 +0.8 Free cash flow industrial business Q1 2021: € 1,810 million Net industrial Earnings and Working Depreciation and Additions to Investments in Other Net industrial liquidity other cash capital impact amortization/ property, plant, and disposals of (mainly liquidity 12/31/2020 flow impact impairments equipment and shareholdings FX effects) 3/31/2021 intangible assets Daimler AG Fixed Income Presentation | Q1 2021 6 Daimler YTD Q1 2021 development of gross industrial liquidity Financial Services in billion euros Industrial Business 1.9 -0.7 -1.9 2.7 -5.4 1.8 4.5 -0.3 32.0 29.4 -0.1 4.2 3.6 25.8 27.9 Gross Dividend FCF FCF Other ABS New Bond New FX & Gross Liquidity Payment IB DMO Debt Maturities ABS Maturities Bonds Other Liquidity 31.12.2020 31.3.2021 Note: Figures may not be additive due to rounding. Daimler AG Fixed Income Presentation | Q1 2021 7 Daimler Q1 2021 financial flexibility over a 12-month period in billion euros 65.5 Other incl. ABS potential 52.0 Fin. Lease Net industrial liquidity at €20.1 billion improved significantly Commercial paper Gross industrial liquidity at €27.9 billion Bank loans Credit facility Financial flexibility supported by €11 billion revolving credit facility, Liquidity which is unutilized Daimler Mobility Bonds Liquidity industrial business Account deposits Available or Maturities accessible over next liquidity 12 months Daimler AG Fixed Income Presentation | Q1 2021 8 AGENDA I. DAIMLER AG REVIEW Q1 2021 II. DIVISIONAL REVIEW Q1 2021 III. OUTLOOK 2021 IV. PROJECT FOCUS V. FUNDING VI. SUSTAINABILITY Fixed Income Presentation | Q1 2021 9 Mercedes-Benz Cars: Highlights ▸ Positive trend from H2 2020 continued ▸ Favourable sales momentum with record sales in China ▸ Fascinating products and favourable mix drive pricing ▸ Global EV share of Mercedes-Benz Cars at about 10%, in Europe above 25% ▸ Improved industrial performance; significant fixed cost reduction ▸ Mercedes-Benz Drive System Campus gearing up for “Electric First” future Daimler AG Fixed Income Presentation | Q1 2021 10 Mercedes-Benz Cars: Business recovery in all core regions Group sales of Mercedes-Benz passenger cars per month in thousand units China Europe United States 80 90 40 70 80 35 60 70 30 60 50 25 50 40 20 40 30 15 30 20 20 10 10 10 5 0 0 0 Jan 20 Mar 21 Jan 20 Mar 21 Jan 20 Mar 21 Daimler AG Fixed Income Presentation | Q1 2021 11 Mercedes-Benz Cars & Vans financials: CFBIT adj. turned positive, demonstrating focus on cash flow Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros 26.9 627 3.8 23.2 547 3.1 +15% +16% +537% +4.4 0.6 -1.3 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 For more details on financials please see Daimler Capital Market Presentation Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 12 Mercedes-Benz Cars & Vans EBIT FY & RoS: Favourable sales momentum translated in a significant increase in volume, structure and pricing Higher unit sales (mainly in China), favourable mix Favourable net pricing in million euros Improved industrial performance; significant fixed cost reduction Higher at-equity contribution from Beijing Benz Automotive Co., Ltd. (BBAC) Gross profit +2,537 One-offs (IPO Chargepoint, Sale of property Ulm) Foreign exchange rates 4,078 +423 3,841 +237 +302 +97 -121 +2,311 -129 +355 RoS: • Legal RoS: 14.3% Proceedings -75 15.2% RoS: RoS: • Restructuring -292 • M&A transaction+604 2.2% 2.6% 510 +93 603 • Legal proceedings +93 EBIT Adjustments EBIT Volume/ Foreign Industrial Selling General Research & non- Others EBIT Adjustments EBIT Q1 2020 adjusted Structure/ exchange performance expenses administrative capitalized adjusted Q1 2021 Q1 2020 Net pricing rates expenses developm. costs Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 13 Mercedes-Benz Cars & Vans Reconciliation from EBIT to CFBIT: Controlled inventory management given the increased sales volume and richer model-mix in million euros +844 +186 -1,586 +1,498 -3,052 4,078 +1,161 3,129 1,968 t/o • US penalty payments -912 • Legal Proceedings +1,062 • Cellcentric -604 • Restructuring +409 • Result at-equity BBAC -483 • M&A transaction -310 • ChargePoint -179 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Adjustments CFBIT Q1 2021 working capital investments in pp&e and amortization/ Q1 2021 adjusted intangible assets impairments Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 14 MD Daimler Trucks & Buses: Highlights ▸ Increase in truck sales, mainly in Europe and North America due to improved market conditions and SoM gains ▸ Incoming truck orders in all regions significantly above prior-year’s quarter ▸ Further reduction of used vehicles stocks and favourable net pricing ▸ Global strategic partnership for medium-duty engine systems with Cummins Inc. signed ▸ Fuel-cell joint venture “cellcentric” with Volvo Group closing completed Daimler AG Fixed Income Presentation | Q1 2021 15 Daimler Trucks & Buses Financials: Strong improvement of EBIT adj. and CFBIT adj. Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros 101 8.7 8.7 98 518 435 +4% -1% 247+110% +520 -85 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 For more details on financials please see Daimler Capital Market Presentation Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 16 Daimler Trucks & Buses EBIT & RoS: Positive volume, structure and net pricing Higher truck unit sales mainly in EU30 and North America Positive contribution from used vehicle business and favourable development of net pricing Higher costs, mainly related to raw material, supply chain constraints and in million euros preventive health measures to avoid effects of COVID-19 +523 1,041 Gross profit +193 +280 -15 -72 +48 518 +9 -23 +44 247 • Restructuring RoS: RoS: RoS: measures -88 2.8 % 6.0 % • Fuel Cell JV +611 12.0% EBIT Volume/ Foreign Industrial Selling General Research & non- Others EBIT Adjustments EBIT Q1 2020 Structure/ exchange performance expenses administrative capitalized adjusted Q1 2021 Net pricing rates expenses developm. costs Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 17 Daimler Trucks & Buses reconciliation from EBIT to CFBIT: Underlining our focused investment approach in million euros +287 +314 -198 -664 1,041 -159 621 -186 435 t/o • Restructuring • cellcentric -622 measures +95 • Fuel Cell JV -281 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Adjustments CFBIT Q1 2021 working capital investments in pp&e and amortization/ Q1 2021 Q1 2021 intangible assets impairments adjusted Daimler AG Fixed Income Presentation | Q1 2021 18 Daimler Mobility: Highlights ▸ Strong loyalty and retention driving new business above Q1 2020, especially in China ▸ Stable credit reserve level with continuously low net credit losses ▸ Further improvements at mobility services: ▸ Ongoing optimization of its holdings ▸ PARK NOW - Announcement of intended acquisition by EasyPark ▸ CHARGE NOW - new additional partner and investor with bp ▸ YOUR NOW - continuous extension of business activities (e.g. Multi Mobility Services, SHARE NOW rewards) Daimler AG Fixed Income Presentation | Q1 2021 19 Daimler Mobility Financials: Significant increase in EBIT adj. New Contract EBIT adj. business volume in million euros in billion euros in billion euros 16.8 16.2 150.6 152.7 691 +4% +1% +633 58 Q1 2020 Q1 2021 12/31/2020 3/31/2021 Q1 2020 Q1 2021 For more details on financials please see Daimler Capital Market Presentation Q1 2021 Daimler AG Fixed Income Presentation | Q1 2021 20 Daimler Mobility EBIT & RoE: Main impact from lower credit risk provisions and higher interest margins Lower addition to credit risk reserve in million euros Favourable margin development OPEX improvement Gross profit* 638 +53 744 +102 +3 +25 0 691 +536 RoE: RoE: RoE: • Restructuring RoE: measures -36 1.6% 1.6% 18.7% 20.2% -33 • VIA +89 58 0 58 EBIT Adjustments EBIT Foreign Cost of risk Volume/* Selling* General* Others* EBIT Adjustments EBIT Q1 2020 adjusted exchange Margin expenses administrative adjusted Q1 2021 Q1 2020 rates expenses Q1 2021 * excluding FX effects Daimler AG Fixed Income Presentation | Q1 2021 21 AGENDA I.
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