Rheinmetall Group Corporate Presentation

May 2021 Rheinmetall Group Mobility and security form the DNA of the business model RHEINMETALL GROUP INTEGRATED TECHNOLOGY GROUP FOR SECURITY AND MOBILITY

Automotive Our heart beats for your engine Defence Force protection is our mission  Tier 1 supplier  System house for land based operations

 High-tech products for global markets  Leading provider of innovative solutions model Business  Gaining powertrain neutrality  Internationalization focused on home markets

 Megatrend mobility  Increasing demand for security  Growing demand for clean mobility  Geostrategical powershifts

 Global LV production with growth  Constantly changing conflict situations driver Market Market  Increased regulation  Rising defence/security budgets

Rheinmetall AG - Corporate Presentation May 2021 2 Rheinmetall Group Highlights

Group performance indicator Strategy roadmap Grow sales ~8% op. Organic International around 8% margin RHEINMETALL growth expansion Targeted 2-4% 30-35% GROUP Leading by Targeted Cash on sales payout ratio innovations acquisitions

AUTOMOTIVE Our heart beats for your engine 2020 DEFENCE Force protection is our mission Op. margin €2,151m 37% Sales 63% €3,723m Op. margin 1.5% €33m Oper. Result €414m 11.1% *€426m Order backlog €12,924m 10,613 47% Headcount** 53% 12,344

* Short-term; **Headcount at capacities;

Rheinmetall AG - Corporate Presentation May 2021 3 Rheinmetall Group Financial overview - Growth in all relevant KPI Sales, operating result and operating margin Operating FCF and operating FCF to Sales In €m In €m / in % 4,7% 5,0% 6.500 6.255 12 400 5 6.148 314 3,7% 10 4 6.000 5.896 5.875 300 276 2-4% 5.602 8 217 3 OFCF 200 161 5.500 5.183 8,0% 8,1% TARGET 7,3% 6 2,9% 2 6,3% 6,8% 100 4 29 1 5,5% 491 505 426 500 287 353 400 0 2 0,6% 0 -0,6% 0 0 -100 -35 -1 2015 2016 2017 2018 2019 2020 Op. Margin Sales Op. Result 2015 2016 2017 2018 2019 2020 oFCF oFCF/Sales Earnings and dividend per share Net financial debt In € / in % In €m 12 32,4% 34,2% 40 Cash 30,9% 29,6% 30,9% Payout Ratio 10 28,4% 30-35% 300 7,77 30 of EPS 8 7,10 200 5,88 6 4,69 5,24 20 230 3,88 100 4 2,40 1,45 1,70 2,10 2,00 10 0 19 4 2 1,10 -81 -30 -52 0 0 -100 2015 2016 2017 2018 2019 2020 Debt 2015 2016 2017 2018 2019 2020 Payout Ratio underlying EPS DPS Net debt Rheinmetall AG - Corporate Presentation May 2021 4 Rheinmetall Automotive Products per division

MECHATRONICS HARDPARTS AFTERMARKET

PUMP TECHNOLOGY SMALL BORE PISTONS HARDPARTS

AUTOMOTOVE EMISSION SYSTEMS BEARINGS MECHATRONICS

SOLENOID VALVES LARGE BORE PISTONS COMMERCIAL DIESEL SYSTEMS CASTINGS

ACTUATORS

Rheinmetall AG - Corporate Presentation May 2021 5 Rheinmetall Defence Products per division

WEAPON AND ELECTRONIC VEHICLE AMMUNITION SOLUTIONS SYSTEMS HX-FAMILY

MID & LARGE CALIBER AMMO INTEGRATED ELECTRONIC SYSTEMS TACTICAL VEHICLES

MID & LARGE CALIBER WEAPONS AIR DEFENCE & RADAR SYSTEMS LOGISTIC VEHICLES Medium wheeled PROTECTION SYSTEMS TECHNICAL PUBLICATIONS Medium tracked - ACTIVE Heavy tracked - PASSIVE - SOFTKILL

Rheinmetall AG - Corporate Presentation May 2021 6 One Rheinmetall Realization of growth in changing market conditions

 Positioning as integrated technology group for Mobility and Security ONE  Realization of growth potentials in changing market environments  Leveraging strengths by bundling and channeling our expertise and RHEINMETALL competencies, e.g. different technologies  Change perception and increase attractiveness as an employer

One Rheinmetall One Rheinmetall One Rheinmetall Phase I Phase II Phase III Initiatives addressing culture Focus on technologies Commercialization and cooperation 2016-2018 2018 ff. starting 2021

Rheinmetall AG - Corporate Presentation May 2021 7 STRATEGY UPDATE Taking Rheinmetall to the next level

Rheinmetall AG - Corporate Presentation May 2021 8 Strategy update Management sets clear strategic objectives

1 Reduce Automotive exposure

2 Minimum profitability level requirement

3 Continuous portfolio management

Rheinmetall AG - Corporate Presentation May 2021 9 Strategy update Transformation process initiated

Realignment Integration of of existing business Automotive holding

• Disposal process of the piston business • Right-size the structure to support the business • Regrouping of business activities • Eliminate redundant functions on • Focused approach with five divisions Group and Automotive holding level

Rheinmetall AG - Corporate Presentation May 2021 10 Strategy update The new corporate structure 2020 2021

Rheinmetall Group RheinmetallRheinmetall Group Group Holding Holding

Automotive Weapon and Electronic Vehicle Sensors and Materials Defence Pistons Holding Ammunition Solutions Systems Actuators and Trade

Non-core business

Weapon & Ammunition Mechatronics Sensors and Actuators Materials and Trade • Pumps • Aftermarket Electronic Solutions Hardparts • Actuators • Bearings • Air Emission Systems Vehicle Systems Aftermarket • Solenoid Valves • Castings • Commercial Diesel (50:50 Joint Venture) Systems

Rheinmetall AG - Corporate Presentation May 2021 11 Strategy update Strong measures to improve the Automotive situation Pistons decided non-core Realignment of the core business Superb engineering and business production capabilities form our innovation culture

Find a better owner for Right-sizing the organization Leveraging of technologies the piston business to new applications

Divestment process Preparation for Accelerate transformation started transformation

Rheinmetall AG - Corporate Presentation May 2021 12 Strategy update Sensors and Actuators: Focus on profitable growth

IHS Sensors and Historic performance (2015-2019) LV production* Actuators In million units Sales In € billion • Sales growth of 1.3% CAGR vs. flat global LV volumes growth* • +5.4% CAGR +10% CAGR 9.3% average operating margin

95 ~2.0 Regulation drives the business…

73 23 0.7 95g CO 6 ~1.2 • Tighter thresholds 2 0.1 • New emission regulation EU 7 67 72 1.1 1.3 • Expansion to new regions Asia

2020 2025FC 2020e 2025p …but technology offers opportunities beyond automotive ICE Alternative Propulsion

*IHS 12/2020 Rheinmetall AG - Corporate Presentation May 2021 13 Strategy update Sensors and Actuators: Three pillars of growth Innovative solutions for Growth in alternative Diversify into clean mobility powertrains (AP) new applications

Tighter Regulation of fuel fumes Electrified Mobility Sustainability and Performance

Electronic Vapor Pump (EVAP) Thermal Management Thermal Management  Server cooling  5G Base station & antenna

COOLANT COOLANT PROPORTIONAL- PUMP VALVE COOLANT VALVE Air Management  Air sanification equipment Fuel Tank Isolation Valve (FTIV) H2 Products

H2 Applications H2 Recirculation FUEL-CELL CONTROL ELECTRICAL  Stationary fuel cell Blower VALVE CATHODE VALVE Sales potential in 2025 Up to € 300 m Up to € 500 m Up to € 200 m

Illustrative Rheinmetall AG - Corporate Presentation May 2021 14 Strategy update Sensors and Actuators: China JV clearly outperfom market

IHS LV production* China JV (100% pro forma sales ) In million units; CAGR 2020-25 In € million; CAGR 2020-25 Strong profitable growth of at equity BEV Hybrid consolidated sales ICE +4.7% 29.4 ~400 • Introduction of fuel fume regulation in +20% 18% China 23.4 5% 3% 13% • Tightening truck regulation in India and China ~160 92% 69% • Electrification of the powertrain

2020 2025 2020e 2025p

*IHS 12/2020 Rheinmetall AG - Corporate Presentation May 2021 15 Strategy update Materials and Trade: Well positioned to capture opportunities

Aftermarket Bearings Castings (Joint Ventures)

Solid profitability Shift to non-ICE applications Technology leadership

5% CAGR 7% CAGR 7% CAGR

~440 ~300 ~1,100 ~340 ~200 ~800

2020e 2025p 2020e 2025p 2020e 2025p . Flexible casting technology . Regional expansion . Accelerate diversification . Benefit from global lightweight . Increase truck exposure . Focus on industrials trend . Sustainable margin >9% (100% pro forma sales) Rheinmetall AG - Corporate Presentation May 2021 16 Strategy update 2021 2022 Defence budgets demonstrate robustness despite Covid 2023

Germany Australia UK* Hungary USA

Stable Growing Growing Growing Stable

Threat scenario • Russia and China defence Tender • Large vehicle programmes with persists spending increased at 10% ongoing temporary delays, but no cancellations CAGR** during the last decade • Modernization programmes remain key • European defence emancipation priority becomes more popular • Positive outlook for tender pipeline

All data public defence budgets for the years 2021-2023, Hungary based on Jane’s data Rheinmetall AG - Corporate Presentation May 2021 17 *UK Budget 2020 increased by € 19 bn over 4 years modeled to internal assumptions **Sipri: Defence budgets 2009 to 2019 Strategy update Competitive vehicles portfolio offers huge potential

Infantry Main Wheeled Trucks fighting vehicles battle tanks vehicles

• Puma • Leopard • 4x4 HU JV • HX-Family • Lynx • Challenger • 6x6 New Fox • Future trucks • MGCS • 8x8 Boxer ~€15 ̶ 40 bn ~€5 bn ~€5 ̶ 6 bn ~€7 ̶ 8 bn

10 years‘ order potential of ~€ 30 to ~€ 60 bn

Rheinmetall AG - Corporate Presentation May 2021 18 Strategy update Hungary is a catalyst for our Lynx pipeline

USA US Army Bradley  Eastern replacement Europe ~4000 vehicles Australia ~ € 40 bn Slovakia and Tender: 2021-2023 Slovenia Czech Land 400 Phase III Potential start of ~450 vehicles Start of Tender: production: 2028 2024/25 ~200 vehicles ~ € 4-5 bn Strong team with Hungary Combined value: Raytheon and Textron ~ € 2 bn Decision 2022 ~ € 1.5-2 bn Decision H1 2021 ~220 Lynx KF41 ~ € 3.1 bn Order intake Q4’20

Rheinmetall AG - Corporate Presentation May 2021 19 Strategy update Vehicle Systems main driver for mid-term growth 2020e Sales 2025 Targeted Sales ~€ 5.5 bn

27 % ~€ 3.7 bn Weapon & Ammunition

22 % 30 % Electronic Solutions

23 % Vehicle Systems 51 % 47 %

% share based on unconsolidated sales distribution Rheinmetall AG - Corporate Presentation May 2021 20 Strategy update Stronger focus on Defence with ICE exposure below 20% 2020e Sales 2025 Targeted Sales

~30% ICE exposure ~37% Non ICE

~9% ~15-20%

~28% ~€8.5 bn ~€5.9 bn ~10-15% Non ICE ICE and new applications

~63% ~70% Defence exposure Defence exposure

ICE = Internal Combustion Engine Rheinmetall AG - Corporate Presentation May 2021 21 Strategy update Commitment to our technological leadership ONE Rheinmetall Passion for technology

Re-organization to Leverage our core Focus on growth better fit our needs technological strengths business areas

• Divest non-core business • Further integrate technologies • Continue our successful Defence development • Reorganize the way we do • Capitalize our state-of-the-art • Diversify into high growth our business technology markets using our technological off the shelf solutions Sustainability

Rheinmetall AG - Corporate Presentation May 2021 22 Strategy update Upgrading our financial targets for 2025

Attractive growth profile Higher profitability Focus on free cash flow

Sales target Margin target Cash to sales target* ~ € 8.5 bn ≥ 10% ~ 3-5%

Passion for Performance

*OFCF to sales ratio Rheinmetall AG - Corporate Presentation May 2021 23 AUTOMOTIVE A changing world

Rheinmetall AG - Corporate Presentation May 2021 24 Automotive Leading technology and market positions

Key Figures 2020 Sales by division* Sales by region Sales Total Management View RoW Sales: €2.2bn Aftermarket Hardparts Asia 5% China JV-Sales 15% in €bn 31% 18% 0.9 Op. result: €33m USMCA 17% Europe 54% w/o 2.2 Op. margin: 1.5% Mechatronics 18% Germany Consolidated Germany Sales Op. FCF: €18m Operating result by division* Sales by customer Global set up

In €m 33 Other >10% Ford, R&D: €162m VW 20 Aftermarket 22% 12 27 5-10% 12 Capex: €95m 2-5% 47% 3 36 Mechatronics Daimler, 17% Renault/ DAF, Volvo, Nissan, 4 PSA, BMW, 14% GM, FCA -13 Hardparts Headcount:10,631 CAT/Perkins Sites per continent *unconsolidated

Rheinmetall AG - Corporate Presentation May 2021 25 Automotive Leading technology and market positions

Sales driver Segment Structure Key Competitor Differentiator

Hardparts Hardparts . Strong brand . Megatrend mobility . Pistons Mahle, Nemak, GGB, . Growing demand for . Castings Tenneco (Federal . Global footprint . Bearings Mogul), Dong Yang clean mobility . Strong partnerships Mechatronics Mechatronics . . Global LV production . Pump Technology Magna, Bosch, Denso, (Hasco, Shriram, Riken, ZYNP) with further growth . Auto. Emission Systems Valeo, Schaeffler . Wide technology portfolio . Commercial Diesel Systems . . Increased regulation . Solenoid Valves Extensive product Know-How . Actuators Aftermarket Aftermarket . Hardparts Tenneco (Federal . Mechatronics Mogul), Mahle, Bosch, Valeo

Rheinmetall AG - Corporate Presentation May 2021 26 Automotive overview Product portfolio by division and engine type

THERMAL MECHATRONICS FUEL TANK ISOLATION VACUUM PUMPS EXHAUST CONTROL VALVE MANAGEMENT HRB eCATHODE VALVE VALVE GEN. 3

ELECTRICAL COOLANT GASOLINE EGR HIGH-VOLTAGE E-MOTOR COOLING EGR MODULE SC AIR SYSTEM eWastegate PUMP COOLANT PUMP eCC Actuator

TURBO ACTUATOR VTG EVAP ELEC. BYPASS VALVE MULTI PURPOSE VALVE ELECTRICAL OIL PUMPS CONTACTORS THERMO MODULE FUEL CELL CONTROL VALVE

25% Share Carbon TT ALU PISTONS NON-ENGINE E-Motor HOUSING POLYMER BEARINGS STRUCTURAL PARTS

ENGINE BLOCKS BATTERY BOXES HARDPARTS ICE EV / FUEL CELL

Rheinmetall AG - Corporate Presentation May 2021 27 Drivers for growth Rising global fleet and regulatory restrictions are supporting our growth

 LV production forecast*  Further regulatory pressure***  Automotive sales distribution [mUnits] +7% by engine type** +29% 102 CO NOx -17% 2 95 in g/km in mg/km 89 20% Core Diesel 2% 13% 4% -24% -56% Others 74 8% 12% -37% Fuel independent 15% 125 180 25% 3% products 5% 95 15%

59 80 13% 94% Truck 75% 2% 92% 65% 2015 2020 2030 EU5 EU6 36% Large-Bore . Next regulation deadline approaching Gasoline Pistons in 2020 . Real driving emission(RDE) testing will create further pressure to reduce 2019 2020 2025 2030 emissions by hardware installation . First city ban for diesel engines EV Hybrid ICE announced in Germany

* IHS 12/2020 and company estimates ** Rheinmetall Automotive sales FY 2020 *** 95g = 4.1l Gasoline or 3.6l Diesel, 2030 estimates based on Regulation (EU) 2019/631 Rheinmetall AG - Corporate Presentation May 2021 28 Automotive Market trends The growth drivers remain strong

NT

3+ Efficiency Emission Electrification Outside (Reduction) E (CO2 Reduction) powertrain

The innovation pipeline is packed!

Rheinmetall AG - Corporate Presentation May 2021 29 Efficiency CO2 - reduction with Automotive products – gasoline engine vehicle 130 g 95 g

CO2/km CO2/km 2015 2021 -1 g -3 g -3 g -7 g -2 g -2 g

CO2/km CO2/km CO2/km CO2/km CO2/km CO2/km

Variable Tribology Electr. control Variable Electr. Lightweight oil pump system valve and variable valve train EGR system design parts coolant pump *Reference: 1.4L 4-cylinder. TC DI gasoline engine (115kW), approx. 138 g CO2/km in NEDC

Rheinmetall AG - Corporate Presentation May 2021 30 Electrification Rheinmetall Automotive products

Rheinmetall AG - Corporate Presentation May 2021 31 Micro Mobility Starting with competitive product into a booming market

High growth market Unique selling proposition

. European market with 10% CAGR between 2018 and . Smooth phasing of engine support 2030 . Excellent freewheeling . High market concentration with Bosch representing . Low weight and compact build almost 50% of market share . Low noise emission . E-bike market price averaged at €3.000 last 3 years . High thermic stability . Interesting connectivity features . Speedy service concept 9,0 Development 8,5 Start of 8,0 cost of € ~30m Production 7,4 6,9 until 2022 6,4 5,9 5,4 4,9 4,4 3,8 3,3 2,9

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 European e-Bike sales forecast [mUnits] Rheinmetall AG - Corporate Presentation May 2021 32 Diversification Increasing portfolio for non-LV applications

Trucks Large bore pistons Bearings & Aftermarket continuous casting

Diverse portfolio for E.g. ship and locomotive truck applications pistons Sanitary application Global supply of spare parts

Rheinmetall AG - Corporate Presentation May 2021 33 Trucks

Diverse portfolio for truck applications Permaglide bearings for truck compressors and truck hydraulics Main coolant pumps Aluminum pistons Auxiliary coolant pumps Steel pistons Electrical oil pumps Piston rings Cooperation with Riken Bushings for injection pumps Main-bearings Sales Connecting rod bearings Coolant in €m Bearings for seat adjustments and doors valves 600 436 386 404 351 338 EGR cooler modules Variable valve Control 400 290 and mixer modules 200

Exhaust gas flaps 0 Dual poppet valves 2015 2016 2017 2018 2019 2020 EGR reed valves Hydraulicvalves Electrical Pressure High Cylinder bypass regulating performance bore coating valves valves actuators

Rheinmetall AG - Corporate Presentation May 2021 34 Automotive China China growth story

 Sales China Highlights in €m CAGR +13% . Partner of local big players SAIC and HASCO (50/50 1,149 972 1,003 1,051 WFOEs joint ventures) 871 934 681 . Biggest casting capacities in China – technology leader 528 401 . Regulation (China 6) – provides substantial growth JVs (100%) potential for mechatronics division . Strong demand for NEV products 2012 2013 2014 2015 2016 2017 2018 2019 2020 . China Story on track: product pipeline supports growth ambitions . Demand for Mechatronics products key driver  EBIT China 76 79 76 WFOEs in €m 71 51 53 53 37 30 JVs (100%)

2012 2013 2014 2015 2016 2017 2018 2019 2020

Rheinmetall AG - Corporate Presentation May 2021 35 DEFENCE Managing the “super cycle”

Rheinmetall AG - Corporate Presentation May 2021 36 Defence Leading supplier with an increasing international presence

Key Figures 2020 Sales by division* Sales by region Order backlog by region Row Row Sales: €3.7bn Weapon and Asia / ME Asia / ME Germany 5% 1% Ammunition 16% North America 18% 30% North America 2% 13% Op. result: €414m Vehicle 4% Systems 46% 11% Australia / NZ 19% 44% Germany Electronic Australia / NZ Op. margin: 11.1% 24% Europe (w/o G) 20% 47% Solutions Europe (w/o G)

Op. FCF: €174m Operating result by division* Order backlog by division Global set up Weapon and Vehicle Weapon and R&D: €89m 19% Ammunition Systems Ammunition 35% 80 1 43% 9 Capex: €201m 16% 5 65% 10 Vehicle Electronic 5 22% Systems Headcount: 12,344 Electronic Solutions Solutions Sites per continent *unconsolidated

Rheinmetall AG - Corporate Presentation May 2021 37 Defence Leading technology and market position

Sales driver Structure of Corporate Segments Key Competitor Differentiator . Increasing demand Vehicle Systems Vehicle Systems . Reputation as trustful and for security . Tactical Vehicles General Dynamics, reliable company . Logistic Vehicles BAE, KNDS, Scania, . . International footprint Geostrategic power Iveco, Hanwha shifts . Broad product portfolio Weapon and Ammunition Weapon and . Constantly changing . Weapon and Munition Ammunition . International presence . conflict situations Protection Systems Nammo, Northrop . System integrator . Propulsion Systems Grumman, Plasan, . Rising defence/ Eurenco, GD, Kongsberg . Modular and open architecture security budgets Electronic Solutions Electronic Solutions . Weapon and sensor . Integrated Electronic Solutions R&S, CAE, Saab, platforms . Air Defence and Radar Systems Thales, Rafael, Elbit . Excellent engineering . Technical Publications Systems, Safran, Know-How & capabilities Hensoldt

Rheinmetall AG - Corporate Presentation May 2021 38 Defence Managing the super cycle

Demand for next generation 1990 Upscaling of systems forces and Downscaling modernization Inflection Return to treaty of forces and point and territorial armament Out of area NATO defence 2% target missions 2014 Annexation committment Crimea

Rheinmetall AG - Corporate Presentation May 2021 39 Defence super cycle Successful internationalization provides diverse sources of growth

Our home markets

Germany Australia United Eastern Kingdom Europe

. Largest customer . Established „home . JV with BAE serves . Modernization to . Budget increase: market“ „home market“ NATO standards Commitment to . Land 400 program . MIV and . VJTF participation 1.5% in 2024 as demand driver Challenger LEP . IFV tender pipeline . 100% Equipment . Ammunition program level framework . Ammunition . More personnel contract framework contract

Rheinmetall AG - Corporate Presentation May 2021 40 Defence tender overview High demand could lead to promising super cycle

UK Eastern Europe MIV Boxer Lithuania: Boxer Challenger Poland: Leopard II Hungary: Leopard, Howitzer, France Lynx, Trucks IFV(wheeled) MGCS Czech Rep: IFV (tracked) Germany Slovakia: IFV USA Trucks Bulgaria: IFV (wheeled) Ammunition IDZ Romania: IFV (wheeled) Fuzes VJTF Puma Slovenia: APC (wheeled) OMFV Load Handling System Leopards Heavy transport helicopter 2. Puma lot 2. IDZ lot International Customers Boxer variants Australia MENA Ammunition Land 17 1 C.2 Ammo South-East Asia Fox Land 121 3a, 5b Trucks Algeria TEN (D-LBO) Land 400 II Boxer CRV Indirect fire Land 400 III Lynx Green: booked business / black: potential MGCS Simulation M1

Rheinmetall AG - Corporate Presentation May 2021 41 German defence NATO commitment key driver for German demand

Lead role in Very High Readiness Joint Task Force ( VJTF) Bundeswehr ‘19 ‘23 ‘27 ‘31 ’32+ 2016 White paper 04/2018 VJTF´23 1x Division 3x Division 3x Division Concept VJTF´19 (1 Brigade) (3x Brigade) (8x Brigade) (10x Brigade) Bundeswehr 09/2018 ~2.200 ~9.000 ~30.000 Capability vehicles vehicles vehicles profile 100% equipment and digitization

Rheinmetall AG - Corporate Presentation May 2021 42 German defence budget Investment expenses and Rheinmetall-share - budgets become sizeable in €m 9253 8908 8263 Drivers for budget increase: . More personnel, return to ~200.000 soldiers 5894 6063 . More equipment (100% equipment 5327 5323 4890 level) . More finance, investive share increased by 14% from 2019 to 2020 Rheinmetall . Even with shrinking GDP due to corona avg. 20%-25% share the defence budget remains stable Rheinmetall avg. 10%-15% share NATO and VJTF commitment as strong drivers! 2014 2015 2016 2017 2018 2019 2020 2021 2022* 2023* 2024*

*based on BMWi defence budget forecast Sep.20; assumption 20% investive share of German defence budget

Rheinmetall AG - Corporate Presentation May 2021 43 German Defence Additional structural demand of German armed forces

Vehicles Fox Boxer Trucks Puma Leopard 2

(>500 vehicles) (~150 vehicles) (>10.000 vehicles) (~250 vehicles) (>200 vehicles)

Programs and ammunition NNBS TLVS/Next Gen. Patriot DLBO TEN Ammunition Military Camps

(Short range air defence) (Tactical air defence) (former MoTaKo) Long term doubling potential Build, operate and rebuild

Rheinmetall AG - Corporate Presentation May 2021 44 Australia Successful establishment of a new “home market” 2020 MilVehCoE Military Vehicle 2018 Center of Excellence Land 17: 155mm Munition Framework Contract: 2017 EUR 60m p.a. Supashock 2018-2023  49% Rheinmetall  „Brain-Trust“ 2022T /2023 2017  LYNX 2018 JV Rheinmetall NIOA Land 400 Phase 3 BOXER Munition  2019 Down selected Land 400 Phase 2 51% Rheinmetall Delivery exp. 2023-2032 Delivery 2019 - 2026 EUR 5.6bn  EUR 2.1bn 2013 (SOP Australia 2021) TRUCKS LAND 121 Phase 3B / 5B 1st & 2nd order  Delivery 2016-2024, €2bn & 0.4bn Trucks Boxer

2013 Rheinmetall AG - Corporate Presentation May 2021 45 United Kingdom - Joint Venture with BAE Creating a new “home market” and strengthening our position

LEGACY BUSINESS EXPANSION OF PRODUCT PORTFOLIO

. BAE UK business Future . Armoured engineering vehicles and . Boxer Mechanized Infantry Vehicle (MIV) bridge-laying tanks - 500 vehicles @ € 1.4bn . AS 90 self-propelled artillery system . Challenger 2 Life Extension Programme . Force protection components - potential order size 148 MBT @ € 0.8-1.2bn . Services . Next generation of battle tanks - 7.500 MAN vehicles under service +

Rheinmetall AG - Corporate Presentation May 2021 46 System house for land based operations Integrating components to systems

VJTF System-of-Systems

System house Systems Armored Infantryman

Puma Gladius Platforms

Key Components Lance turret Protection Ammunition Laser opto-sensoric

Rheinmetall AG - Corporate Presentation May 2021 47 FINANCIALS

Rheinmetall AG - Corporate Presentation May 2021 48 Q1 2021 Group Highlights Sales recovery and continued cost discipline drove profitability

. Strong recovery of LV markets led by Asia Macro . Supply chain issues on price and availability emerged

. Sales increased to €1.405m (reported +3.5%, FX adjusted +5.1%) . Operating Result rose by €53m to €87m Financials . OFCF improved by €129m to -€59m . EPS climbs to €1.14 after €0.30 last year

. Piston disposal process continues to next stage Restructuring . Implementation of restructuring measures on schedule . Cost saving measures remain in place

Rheinmetall AG - Corporate Presentation May 2021 49 Q1 2021 Group Highlights

Rheinmetall joined forces with Environmentally friendly Electromotor housings for L3Harris in the US technology for plug-in hybrids international automaker in China . L3Harris Technologies joined . Innovative fuel tank isolation . Double-digit sized order value of “Team LYNX” together with valve for hybrid vehicles with first leading international automaker Textron, Raytheon and American commercial success with . Electromotor housings made of Rheinmetall Vehicles international customer aluminum to be used in the . “Team LYNX” participates in . Technology is triggered by tighter customer‘s entire fleet in the upcoming Bradley replacement regulation next 5 years tender process in the US

Lynx IFV Fuel tank isolation valve Product sample for E-motor housing

Rheinmetall AG - Corporate Presentation May 2021 50 Q1 2021 Group Highlights: Order profile Increased backlog and higher share of alternative powertrain business

Order Intake 1 Order Backlog Profile 1 Booked Business 2

in €m in €bn in €m Backlog Alternative powertrain share in % Shadow backlog3 +28.7% +41.5% ~3,500 890 +3.5% 25% 1,172 1,213 ~2,000 629 22% 13,258 7.8 10,305

3.0 2.4

Q1 2020 Q1 2021 31.03. 2020 31.03. 2021 2021e 2022e 2023e ff. Q1 2020 Q1 2021

1 Order intake and order backlog for all divisions 2 Booked business for Divisions Sensors + Actuators, Materials + Trade and Pistons reported on the basis of signed nomination letter 3 Additional „Shadow backlog“ of ~€3.5bn including truck and ammunition framework agreements for the years 2021-28 Rheinmetall AG - Corporate Presentation May 2021 51 Q1 2021 Group Highlights: Key financial data Earnings per share soar due to strong operational performance

Sales Operating result and margin Earnings per share

in €m in €m in €

+3.5% +157.0% 280.0% 1,405 87 1,358 70 -23 -2

+5.1% -1.7% 55 6.2% 1.14 34 +162.4% -5.4%

2.5% 0.30

Q1 Operational FX Q1 Q1 Operational FX Q1 Q1 Q1 2020 2021 2020 2021 2020 2021

Rheinmetall AG - Corporate Presentation May 2021 52 Q1 2021 Group Highlights: Key financial data Cash flow rose on earnings growth and working capital improvement

Operating Free Cash flow Highlights / Comments in €m

+131

-57 . Strong earnings improvement

5 . Lower D&A includes mid-single digit effect from 15 impairment -188 . Lower CTA funding in Q1 2021 69 . Net working capital benefited from -1 prepayments -14 17 40

Q1 EAT D&A CTA ΔPension ΔNWC other Capex Q1 2020 funding 2021

Rheinmetall AG - Corporate Presentation May 2021 53 Q1 2021 Group Highlights Equity ratio is approaching target range

Equity and Equity ratio Gross debt and maturity profile in €m and % In €m Equity ratio Total equity Ʃ 1,010 252 Leasing & Other 30.3 29.7 28.2 106 Bank loans 2021 2022 2023 2024 2025 2026ff. Promissory 402 28 45 2,241 2,053 2,221 notes 73 122 136 250 EIB loan 250 31.03.2020 31.12.2020 31.03.2021 31.03.2021 Net financial position Highlights / Comments In €m Net debt . Equity ratio of 29.7% approaching 30-35% target range 4 -77 . High cash position of €934m . Undrawn credit lines of €0.9 bn per end of Q1 -249 . Low net debt position underlines financial strength . Moody’s confirmed “Baa3 stable” Feb 2021 31.03.2020 31.12.2020 31.03.2021 Rheinmetall AG - Corporate Presentation May 2021 54 Q1 2021 Division Highlights Project ramp-down impacted performance as expected Q1 In €m 2020 2021 ∆ Order intake 136 178 +30.4% Sales 446 409 -8.4% Operating result 35 25 -29.2% Operating margin 7.9% 6.1% -1.8pp EBIT 35 25 -29.2% Operating FCF -21 79 100 Sales Operating Margin

12 . Order intake on solid level 10 . Normalized project settlement level especially due to project ramp 8 down of tactical vehicles 507 6 446 457 436 409 . Strong operating FCF including prepayment 4

2 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 55 Q1 2021 Division Highlights Best starting quarter ever Q1 In €m 2020 2021 ∆ Order intake 328 228 -30.4% Sales 167 221 +32.1% Operating result -16 18 +33 Operating margin -9.3% 8.0% +17.3pp EBIT -16 18 +33 Operating FCF -72 -56 +21.7% Sales Operating Margin

30 . Order intake without larger individual projects 20 . Strong sales start . 10 529 Operating result jumped on higher sales volumes and favorable product mix 0 278 225 167 221 . OFCF improved on better financial performance -10 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 56 Q1 2021 Division Highlights Solid first quarter Q1 In €m 2020 2021 ∆ Order intake 324 218 -32.6% Sales 174 167 -4.0% Operating result 10 10 -1% Operating margin 6.0% 6.2% +0.2pp EBIT 10 10 -1% Operating FCF -43 -90 -106.7% Sales Operating Margin

12 . Order intake Q1 2020 included large air defence order 10 . Sales and result remained on a solid level 8 . 6 327 OFCF includes first time CTA funding of €15m and working capital build-up 4 224 206 174 167 2 0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 57 Q1 2021 Division Highlights Sales and margin recovery continues Q1 In €m 2020 2021 ∆ Booked Business 471 656 +39.2% Sales 348 372 +7.1% Operating result 9 28 +194.2% Operating margin 2.7% 7.5% +4.8pp EBIT 9 28 +194.2% Operating FCF -33 -38 -16.9% Sales Operating Margin

10 . Booked business successful with alternative powertrain products accounting for 33% (PY: 30%) 5 0 . Operational sales growth of 9.5% due to strong China business and net- 364 372 positive ramp up effect; chip shortage left no mark in Q1 -5 348 318 . Improved operating leverage and continued cost discipline -10 172 -15 . OFCF declined due to business related increase of working capital Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 58 Q1 2021 Division Highlights Demand driven recovery Q1 In €m 2020 2021 ∆ Booked Business 137 173 +26.6% Sales 140 160 +14.1% Operating result 7 14 +103.9% Operating margin 4.9% 8.8% +3.9pp EBIT 7 14 +103.9% Operating FCF -1 -9 -8

Sales Operating Margin

10 . Booked business increase underpins improved business outlook . General demand recovery across all markets drove operational sales 5 improvement of 18% 160 140 144 149 . Operating result improvement mostly volume driven and continued 0 103 cost discipline

-5 . Business related working capital increase Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 59 Q1 2021 Division Highlights Sales growth held back by adverse FX effects Q1 In €m 2020 2021 ∆ Booked Business 21 60 +191.8% Sales 149 140 -6.4% Operating result -6 3 +143.9% Operating margin -4.1% 1.9% +6.1pp EBIT -6 3 +143.9% Operating FCF -11 2 +13

Sales Operating Margin

10 . Booked business increase underpins improved business outlook . Sales held back by €11m adverse FX-effect 0 . Continued cost saving measures, lower D&A and improved at equity -10 149 123 126 140 contribution supported the operating result -20 81 . OFCF improved due to improved earnings and lower capex -30 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Rheinmetall AG - Corporate Presentation May 2021 60 Q1 2021 Key end market developments Strong recovery of the truck and aftermarket business LV / Non-LV sales split Sales by key end markets

in €m in €m Delta +4.6% +19.0% absolut in % 647 249 Diesel -3 -2.2% 618 Otto -13 -5.9% 148 210 +6 +19.0% 152 Other LV 103 LV: LV Geschäft -11 -2.7% LV: 397 82 408 214 227 15 16 Truck +21 +26.1% 35 Large Bore -1 -5.8% 29 99 Aftermarket +16 +19.4% 83 other 249 +3 +13.8% 210 29 33 Non-LV +40 +19.0% Q1 2020 Q1 2021 Q1 2020 Q1 2021

Rheinmetall AG - Corporate Presentation May 2021 61 Q1 2021 China JV China back on track Sales* EBIT*

in €m in €m +60.1% 264 -4 Joint Venture 41 Wholly owned foreign enterprise 103 +€21m 165 16 21 0 1

223

145 15 21

1 -6

-5 Q1 Operational FX Q1 Q1 Operational FX Q1 2020 2021 2020 2021

* JV sales and EBIT presented at 100% Rheinmetall AG - Corporate Presentation May 2021 62 Market update

Defence budget update IHS Forecast LV production volumes

. Latest budget updates for 2022 in 2020 . Strong annual recovery, but downward revision of Q2 2021 key home markets all favorable 2022 due to chip shortage

+11.9% Quarter Annual -6.1%

74.6 84.7 84.6 84.1 83.5

12.6 21.2 21.1 20.6 19.9

Q2 2020 Q2 2021 (Jan)* Q2 2021 (Feb)* Q2 2021 (Mar)* Q2 2021 (Apr)* Tender update Supply situation  German engineering vehicle (PiPz) approved  Semiconductor shortage is becoming more of a concern  Challenger expected to be booked imminently  Raw material price increase, but pass through and  Puma upgrade decision scheduled for June 2021 hedging in place  East European IFV contract expected for H2 2021  Transportation capacities under pressure  Italy indicated interest for IFV “Dardo” successor *IHS monthly publication 2021

Rheinmetall AG - Corporate Presentation May 2021 63 Outlook Application of IFRS 5 as of Q2 2021

. The status of the disposal process for the piston business has progressed sufficiently in order to qualify the business in accordance with IFRS 5 as discontinued operations . Application as of Q2 2021 . Presentation of Pistons as discontinued operations triggers the following effects:

FY 2020 reported Piston IFRS 5 adjusted IFRS 5 adjusted Sales €5,875m €469m €5,406m

Operating €426m -€26m €452m result Operating 7.3% -5.5% margin 8.4%

Rheinmetall AG - Corporate Presentation May 2021 64 OUTLOOK 2021

Rheinmetall AG - Corporate Presentation May 2021 65 Outlook Favorable business environment for 2021

+6% • Global economies return to growth mode Global GDP Growth1

+13% • LV production volume recovery Global LV volumes2

+6% • Growing defence budgets in our Home markets budget Home markets growth3 1 OECD, March interim Economic Outlook Forecasts March 2021 2 IHS Markit, March 2021 3 Jane‘s January 2021 for Australia, Canada, Germany, Hungary, UK Rheinmetall AG - Corporate Presentation May 2021 66 Outlook Major programs start contributing from 2022 onwards

1. Lot Puma (Ger)

Challenger (UK)

MIV (UK)

Lynx (HU)

Ammunition (HU)

Puma S1 upgrade (Ger)

L400 Ph2 (AU)

2019 2020 2021 2022 2023 2024 2025

Under contract Order potential Rheinmetall AG - Corporate Presentation May 2021 67 Outlook FY Guidance unchanged, updated for IFRS 5 accounting! . Large vehicle orders from the UK and Germany expected Q2 trading . Recovery of global LV markets supportive, but still uncertainties due to supply issues update . Group sales significantly above PY level . Operating margin expansion to 7-8% FY 2021 Guidance Operational sales growth 7-9% (2020 IFRS 5 adjusted: €5,406m)

Operating margin 9-10% (2020 IFRS 5 adjusted: 8.4%)

Guidance update reflects application of IFRS 5 starting in Q2 2021. This scenario is based on the assumption that potential production losses resulting from electronic component shortages in the first half of the year will be limited and excludes severe effects from additional Covid lockdowns. Rheinmetall AG - Corporate Presentation May 2021 68 Outlook Rheinmetall Guidance 2021 by division in the new reporting structure

2020 Outlook 2021e 1,2 Proforma Vehicles Systems Sales €1,846m Slightly improved sales Margin 8.1% On previous year margin level Weapon and Sales €1,199m Notably improved sales Ammunition Margin 15.4% Slightly above previous year level Electronic Solutions Sales €931m Slightly improved sales Margin 9.8% On previous year margin level Sensors and Actuators Sales €1,202m Significantly improved sales Margin 3.0% Significantly higher margin level Materials and Trade Sales €536m Notably improved sales Margin 6.1% Notably higher margin level Pistons (DCO) Sales €479m Significantly improved sales Margin -4.5% Significantly higher margin level

IHS global LV production growth for 2021 expected to be around 13.4%; applies to Pistons and Sensors and Actuators markets 1 For sales, “slightly” indicates a change of up to +/- 5%, “notably” indicates a change of +/- 5-10% while a change of more than +/- 10% is referred to as “significantly”. 2 For margin figures, “slightly” indicates a change of up to +/- 10bp, “notably” of +/- 10 to 30bp while a change of more than +/- 30bp is deemed “significantly“.

Rheinmetall AG - Corporate Presentation May 2021 69 Select key data: Outlook 2021

Rheinmetall Group 2020 2021

Holding cost (new) -€21m (-€43m) €50m-€60m Tax rate Adjusted 26% Comparable level Interest result -€33m ~-€40m

Capex (excl. IFRS 16) 5.4% (3.7%) around 6% D&A (excl. impairment) 9.5% (4.6%) 4% - 5% R&D (self-funded) 6.3% (5.1%) Comparable level

Rheinmetall AG - Corporate Presentation May 2021 70 Appendix

Rheinmetall AG - Corporate Presentation May 2021 71 Sustainability 2023 Path to CO2 neutrality already started Report according to 2040 Carbon Disclosure CO² neutral Project Standards 2020 - 2040 2021 Milestone plan Reporting CO neutrality 2020 2 analogous to 3 years Report according to UN Global increments Global Reporting Compact Initiative 2022 2017 TCFD (Task Force on Climate- First CSR ratings selection related Financial Disclosures) MSCI: BBB 2020 ISS-oekom: D Report on contribution to Sustainalytics: 51 2014 2017 Sustainable Development Goals Global First CSR 2009 compliance Report 2020 Statement on organisation Updated CSR ratings selection cluster munition 2018 MSCI: AA (confirmed) and anti-personnel Statement on ISS-oekom: C (improving two levels) landmines white Sustainalytics: 32 (22nd out of 87 peer group) 2015 phosphorous First non ammunition financial data

Rheinmetall AG - Corporate Presentation May 2021 72 FY 2020 Group: ESG ESG forms part of our corporate strategy

Environment Social Governance

* 2035: CO² neutral Responsible corporate Strict compliance citizen organization • Over next 2 years reduction of • Employee health & safety • Robust governance with strict water consumption use by 10% • Transparency in the supply chain compliance organization and zero- tolerance policy regarding • Consistent energy management • Employer of choice system established; energy saving unethical behavior goals and use of renewable • Introduction of new KPI for • Continuous improvement of sources employee safety in 2021 transparency & ESG ratings • 2020 with improved resource • Zero controversial weapons efficiency • Comprehensive export control and trade compliance organization . ESG targets part of new LTI compensation for top and middle management: 20% from 2022 onwards . Application to the UN Global Compact submitted in March 2021

* CO² neutrality aligned with Paris Agreement and determined in line with the ScienceRheinmetall Based Target AGInitiative - Corporate Presentation May 2021 73 Our capital allocation policy is geared towards further growth

Funding of growth (organic and M&A)

9.4% Dividend to shareholders (Payoutlevel ‘19 Q3 ratio 30-35%)

(target level Improvement of pension funding via CTA 50-60%)

Rheinmetall AG - Corporate Presentation May 2021 74 Group 2016 – 2020: Key figures (as reported) in €m 2016 2017 2018 2019 2020 Balance Sheet Total assets 6.150 6.101 6.759 7.415 7.267 Shareholder's equity 1.781 1.870 2.173 2.272 2.053 Equity ratio (in %) 29,0 30,7 32,1 30,6 28,2 Pension liabilities 1.186 1.080 972 1.169 1.177 Net financial debt 19 230 -30 -52 4 Net financial debt / EBITDA -0,03 -0,37 0,04 0,07 -0,01 Net gearing (in %) -1,1 -12,3 1,4 2,3 -0,2 Income Sales 5.602 5.896 6.148 6.255 5.875 statement Operating result 353 400 491 505 426 Operating margin (in %) 6,3 6,8 8,0 8,1 7,3 EBITDA 581 626 836 792 647 EBIT 353 385 518 512 89 EBIT margin (in %) 6,3 6,5 8,4 8,2 1,5 EBT 299 346 485 477 57 Net income 215 252 354 354 1 Earnings per share (in EUR) 4,69 5,24 7,10 7,77 -0,62

Dividend per share (in EUR) * 1,45 1,70 2,10 2,40 2,00 ROCE (in %) 10,6 12,3 13,8 17,1 2,7 CF statement Free cashflow from operations 161 276 -35 314 217 Headcount Employees (Dec. 31) according to capacity 20993 21610 22899 23780 23268

* Dividend proposal to the AGM Rheinmetall AG - Corporate Presentation May 2021 75 Segments 2016 – 2020: Key figures

Automotive Defence

2016 2017 2018 2019 2020 in €m 2016 2017 2018 2019 2020 2.670 2.922 2.888 2.705 2.130 Order intake 3.050 2.963 5.565 5.186 6.387 458 520 478 447 426 Order backlog (Dec. 31) 6.656 6.416 8.577 10.399 12.942 2.656 2.861 2.930 2.736 2.151 Sales 2.946 3.036 3.221 3.522 3.723 223 249 262 184 33 Operating result 147 174 254 343 414 8,4 8,7 8,9 6,7 1,5 Operating margin (in %) 5,0 5,7 7,9 9,8 11,1 356 367 421 348 122 EBITDA 239 268 403 450 538 223 227 266 186 -307 EBIT 147 172 247 341 417 8,4 7,9 9,1 6,8 -14,3 EBIT margin (in %) 5,0 5,7 7,7 9,7 11,2 149 154 161 143 95 Capex 95 89 101 166 201 105 106 26 73 18 OFCF 103 238 -29 266 174 10.820 11.166 11.710 11.405 10.631 Employees (Dec. 31) according to capacity 10.002 10.251 10.948 12.100 12.344 1.499 1.621 1.664 1.525 1.202 Sales 1.111 1.175 1.056 1.018 1.196 Weapon & 140 176 171 118 36 Mechatronics Operating Result 108 117 121 123 185 Ammunition 9,3% 10,9% 10,3% 7,7% 3,0% Margin 9,7% 10,0% 11,5% 12,1% 15,5% 921 968 988 937 688 Sales 745 691 839 948 931 Electronic 62 60 65 28 -13 Hardparts Operating Result 25 20 46 75 93 Solutions 6,7% 6,2% 6,5% 3,0% -1,9% Margin 3,4% 2,9% 5,5% 7,9% 10,0% 319 358 367 361 345 Sales 1.392 1.480 1.568 1.787 1.823 Vehicle 29 33 36 35 20 Aftermarket Operating Result 29 53 108 150 150 Systems 9,1% 9,2% 9,7% 9,8% 5,8% Margin 2,1% 3,6% 6,9% 8,4% 8,2%

Rheinmetall AG - Corporate Presentation May 2021 76 Continuing ROCE improvement

 ROCE in %

25 22,2 20,2 19,6 20 19,0 18,8 18,7 16,7 17,1 15,9 15,4 15 13,4 13,1 12,3 11,8 10,7 10,6 9,8 10 10% 6,1 Group 4,7 3,9 5 2,7 0,3 0

-4,6 -25 -23,1 2013 2014 2015 2016 2017 2018 2019 2020

Group Defence Automotive

Rheinmetall AG - Corporate Presentation May 2021 77 Next events and IR contacts Next Events IR Contacts

Goldman Sachs, European Small and Mid Cap Conference 07 May 2021 Dirk Winkels UBS, Pan European Small and Mid Cap Conference 12 May 2021 Head of Investor Relations Tel: +49-211 473-4749 Berenberg, US Conference All investor 20 May 2021 Email: [email protected] UBS, Best of Europe meetings will be 27 May 2021 virtual UBS, Global Industrials and Transportation 08 June 2021 René Weinberg M.M. Warburg, Warburg Highlights 09 June 2021 Senior Investor Relations Manager Tel: +49-211 473-4759 DB, dbAccess Berlin Conference 16-17 June 2021 Email: [email protected] Rosalinde Schulte Investor Relations Assistant Annual General Meeting Rheinmetall AG 11 May 2021 Tel: +49-211 473-4718 Q2 2021 Earnings call 05 August 2021 Email: [email protected] Q3 2021 Earnings call 05 November 2021 Quick link to documents Corporate Presentation Interim Reports Annual Reports

Rheinmetall AG - Corporate Presentation May 2021 78 Disclaimer

This presentation contains “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995 with respect to Rheinmetall’s financial condition, results of operations and businesses and certain of Rheinmetall’s plans and objectives. These forward-looking statements reflect the current views of Rheinmetall’s management with respect to future events. In particular, such forward-looking statements include the financial guidance contained in the outlook for 2020.

Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as “will”, “anticipates”, “aims”, “could”, “may”, “should”, “expects”, “believes”, “intends”, “plans” or “targets”. By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. In particular, such factors may have a material adverse effect on the costs and revenue development of Rheinmetall. Further, the economic downturn in Rheinmetall’s markets, and changes in interest and currency exchange rates, may also have an impact on Rheinmetall’s business development and the availability of financing on favorable conditions. The factors that could affect Rheinmetall’s future financial results are discussed more fully in Rheinmetall’s most recent annual and quarterly reports which can be found on its website at www.rheinmetall.com.

All written or oral forward-looking statements attributable to Rheinmetall or any group company of Rheinmetall or any persons acting on their behalf contained in or made in connection with this presentation are expressly qualified in their entirety by factors of the kind referred to above. No assurances can be given that the forward-looking statements in this presentation will be realized. Except as otherwise stated herein and as may be required to comply with applicable law and regulations, Rheinmetall does not intend to update these forward-looking statements and does not undertake any obligation to do so. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in Rheinmetall AG or any of its direct or indirect subsidiaries.

Rheinmetall AG and its affiliates are neither associated with nor provide any support to American Depository Receipts programmes (ADR) or comparable offerings or investment schemes related to shares in Rheinmetall AG in the United States of America or any other jurisdiction. Therefore, neither Rheinmetall AG nor any of its affiliates has and or will accept any responsibility or liability whatsoever in relation to such ADR programmes or comparable investment schemes.

Please note that all figures in this presentation have been rounded on a standalone basis. This can result in minor differences when adding figures together or calculating % shares.

Rheinmetall AG - Corporate Presentation May 2021 79