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Roadshow PresentationFY 2021Mercedes-Benz Group AGDaimler InternalI.I.RESULTS RESULTS FY FY 20212021II.OUTLOOK FY 2022III.STRATEGY1.MERCEDES-BENZ CARS2.MERCEDES-BENZ VANS3.MERCEDES-BENZ MOBILITY2AGENDARoadshow Presentation FY 2021Daimler Internal3Mercedes-Benz Group:Achievements 2021Accelerated strategy implementation,especially electric vehicles&automated drivingEstablished new company structure successfullyIncreased financial robustness managing through the pandemic&semiconductor shortagesRoadshow Presentation FY 2021Daimler InternalQ4/FY reporting changes due to Spin-off Daimler Trucks&Buses1 In Consolidated Balance Sheet IB Daimler Trucks and Buses including MBM spin off is deconsolidated as of 9 December 2021.Further assets and liabilities of Daimlers commercial vehicle business that will be transferred in 2022 are presented as assets and liabilities held for sale.MBM incl.Trucks Disclaimer:This page is for illustration purposes only.It shows schematically the upcoming structural changes within Mercedes-Benzs financial statements.More detailed information is provided in the annual report.4Q4/FYMainly:IB Daimler Trucks&BusesPresented as separate single line item”Discontinued operations”,covering EBIT,interest and taxesMainly:Mercedes-Benz Cars&Vans,Mercedes-Benz Mobility,ReconciliationPresented as usual line itemDiscontinued Operations(DO)Continued Operations(CO)Group P&L(Financial Statements)Group P&L(Financial Statements)1 1Until Q3 2021Mercedes-BenzCars&VansDaimler Trucks&BusesDaimler MobilityReconciliationSegment Segment P&LP&LSince Q4 2021Since Q4 2021Mercedes-BenzMobilityInternal and external reporting of Q4 2021 changes to reflect Group structure post spin-offReconciliation(incl.Daimler Trucks&Buses)Mercedes-Benz Cars&VansPresented figures of Mercedes-Benz Group AG include information for 11 months and 9 days of Daimler Trucks&Buses.These figures are not 1:1 comparable to the upcoming year-end disclosure 2021 of Daimler Truck Group,mainly due to different reporting period and Trucks financial services.The consolidated statement of income shows continued operations.As our outlook for 2021 was given for the sum of continued and discontinued operations,we show the key figures including the former Daimler Trucks&Buses segment until the date of deconsolidation.All figures are preliminary,unaudited and may not add up due to rounding.Roadshow Presentation FY 2021Daimler InternalMercedes-Benz Group:Key figures*RevenueRevenuein billion eurosEBITEBITin billion eurosEBIT adjEBIT adj.*.*in billion eurosFree Cash Flow(IB)Free Cash Flow(IB)in billion eurosNet Industrial LiquidityNet Industrial Liquidityin billion euros6.16.113.013.0202020200.50.52021202116.016.06.66.629.129.1+340%+340%8.08.017.217.22.12.10.70.720202020202120218.68.619.219.2+123%+123%7.97.920202020202120210.70.78.38.38.68.6+4%+4%17.917.921.021.02020202020212021+18%+18%32.532.534.134.1121.8121.820202020133.9133.920212021154.3154.3168.0168.0+9%+9%continued operationsdiscontinued operations5*Including former Daimler Trucks&Buses segment until the date of deconsolidation*excl.deconsolidation resultRoadshow Presentation FY 2021Daimler InternalMercedes-Benz Cars&Vans:Key messages6Acceleration of EVs:4 new BEVs introduced,strong EQS demand;Van EV deliveries doubledResilience increased:revenue quality and cost efficiency improved;break even further reducedRestructuring:significant progress in ICE plant transformationStrong market demand for top end vehicles:record sales for Maybach,AMG and G-ClassAutomated driving:next milestone with industry-first Level 3 approval in GermanyRoadshow Presentation FY 2021Daimler InternalMercedes-Benz Cars:Top-end and electric vehicle unit salesIn thousand units14%8%16%10%*w/o double counting(e.g.G63,S-Class Maybach)1011531211351034412020AMG236*Maybach17G2021SEQSGLS305*+30%+30%202120202,0871,944-7%7%479011918220202021PHEVBEV166272+64%+64%thereofShare in%of volumeTotal MBCElectric vehiclesTop-end vehicles7Roadshow Presentation FY 2021Daimler InternalMercedes-Benz Vans:Electric vehicle unit salesthereofIn thousand units4%2%Share in%of volume61420202021+119%+119%Battery electricvehiclesthereof820212020375386+3%+3%Total MB VansRoadshow Presentation FY 2021Daimler Internal115g2021 2021 PrognosisPrognosisMercedes-Benz Cars&Vans:Internal dataconfirmsCO2compliance2021 in Europe9Preliminary actuals 2020Preliminary actuals 2020excluding regulatory factorsexcluding regulatory factors*WLTPWLTPTarget 125g*NEDCNEDCWLTPWLTP*Estimated target level Mercedes-Benz Group 2021ff new car fleets average CO2 emissions in Europe(European Union,Norway,Iceland)pending final approval by EU-Commission*excl.Super Credits,Phase-In,Eco-Innovations(pending final approval by EU-Commission)Roadshow Presentation FY 2021Daimler InternalMercedes-Benz Cars&Vans:FinancialsEBIT adj.EBIT adj.in billion eurosCFBIT adj.CFBIT adj.in billion eurosRevenueRevenuein billion euros202120202.462.33-5%5%2020202198.6109.6+11%+11%2020202113.96.8+105%+105%2020202112.37.9+55%+55%SalesSalesin million units10Roadshow Presentation FY 2021Daimler Internal1,6309,123533RoS:12.4%RoS:5.2%RoS:6.9%RoS:12.7%-2355,1726,802-1,261-170-197-68013,914-28813,626Mercedes-Benz Cars&Vans:FY EBIT&RoSIn million eurosGross Profit +7,627EBIT2020AdjustmentsEBITadjusted 2020Volume/structure/Net pricingForeign exchange ratesIndustrial performanceEBITadjusted 2021Selling expensesGeneral administrative expensesResearch&non-capitalized development costsOthersAdjustments11EBIT2021Strongly improved net pricingFavourable product mixPositive development of used cars businessIncome from BBAC at-equity,participations and discounting of non-current provisions Lower unit sales due to worldwide shortage of semiconductor componentsDisruption in production network due to shortage of semiconductor componentsHigher raw material pricesHigher investment in future technologies and vehiclesRestructuring-463Legal proceedings-333M&A transactions +508Restructuring+1,476Legal proceedings+154Roadshow Presentation FY 2021Daimler InternalMercedes-Benz Cars&Vans:IndicatorsofChangeActive Workforce Active Workforce in thousand FTE*Fixed CostsFixed Costsin billion eurosR&DR&Din billion eurosInvestment in Investment in pp&epp&ein billion euros20192021159.8154.9-3%3%20212019-16%16%202120198.17.7-5%5%5.93.820192021-35%35%1239.449.820212019+26%+26%MercedesMercedes-Benz Cars Benz Cars Revenue per unitRevenue per unitin thousand euros*FTE=Full time equivalentRoadshow Presentation FY 2021Daimler InternalMercedes-Benz Cars&Vans:EBIT to CFBITIn million eurosNet investmentsin pp&e and intangible assetsEBIT2021AdjustmentsCFBIT2021Depreciation andamortization/impairmentsChange in working capitalNet financial investmentsOther1313,6266,1762,125CCR:0.9CCR:0.7-6,095-702-11812,295-2,71810,170CFBITadjusted2021t/oNew vehicle stock+671Unfinished products-1,845Legal proceedings+1,658Restructuring+557M&A transactions -90t/oBBAC Dividend+1,523Result at-Equity BBAC-1,553Cellcentric-604Roadshow Presentation FY 2021Daimler InternalMercedes-Benz Mobility:Key messagesReduced portfolio due to truck spin-off and lower dealer stockContinuous support for EV salesSpin-off of truck business successfully completed(Phase 1 2021)14New business impacted by semiconductor shortage and lower penetration rateNet credit losses on low level due to high portfolio qualityStrategy refocused on core businessRoadshow Presentation FY 2021Daimler InternalMercedes-Benz Mobility:FinancialsEBIT adj.EBIT adj.in billion euros202020213.41.6+116%+116%Contract VolumeContract Volumein billion euros2020202167.863.6-6%6%New BusinessNew Businessin billion euros20202021150.6133.7-11%11%*15*t/o-16.8bn EUR Focus effectRoadshow Presentation FY 2021Daimler Internal1598901,0448644RoE:10.9%RoE:9.8%RoE:22.0%RoE:22.3%1,4361,595-12-14-1403,4493,493Mercedes-Benz Mobility:FY EBIT*&RoE*excluding FX effectsIn million eurosForeign exchange ratesGeneral administrative expenses*Selling expenses*EBIT adjusted 2021AdjustmentsOther*Volume/Margin*AdjustmentsEBIT adjusted 2020Cost of risk*EBIT202016EBIT2021*Including former Daimler Trucks&Buses segment until the date of deconsolidationRestructuring-45VIA+89Restructuring+67YourNow+92Lower credit risk reserve due to timely response to Covid-19 pandemic in 2020Margin benefiting from lower refinancing costsImproved operative business performance at mobility services and fleet managementHigher expenses due to increased project costsRoadshow Presentation FY 2021Daimler InternalEBIT 2021(CO)DOEBIT 2021(CO&DO)AdjustmentsEBIT adjusted 2021ReconciliationMercedes-Benz MobilityMercedes-Benz Cars&VansEBIT adjusted2020AdjustmentsEBIT 2020(CO&DO)DOEBIT 2020(CO)Mercedes-Benz Group:FY EBIT*7.16.619.26.10.52.08.61.91.69.829.1-13.016.0*Including former Daimler Trucks&Buses segment until the date of deconsolidation17Legal proceedings-0.3Restructuring-0.7M&A transactions+10.9t/o Deconsolidation result (DT+MBM)+9.2t/oEBIT of DO +1.4In billion eurosRoadshow Presentation FY 2021Daimler Internal8.610.2-1.9-0.20.5-0.12.310.9Mercedes-Benz Group:Reconciliation from CFBIT to Free Cash Flow*In billion eurosMercedes-BenzCars&VansIncome taxes paid*Interest paidEffects from PensionsOther reconciling itemFree cash flow(industrial business)AdjustmentsFree cash flow(industrial business)adjusted18*Including former Daimler Trucks&Buses segment until the date of deconsolidation*includes internal tax prepayments from Mercedes-Benz Mobility to the industrial businesst/oFCF DO+0.7Legal proceedings+1.7Restructuring+0.8M&A transactions-0.2Roadshow Presentation FY 2021Daimler Internal17.910.46.81.8-7.2-1.40.0-1.4-5.921.0Mercedes-Benz Group:Net Industrial Liquidity*Free cash flow industrial businessFY 2021:8.6 billionEarnings and other cash flow impactWorking capital impactDepreciation and amortizations/impairmentsAdditions to property,plant,equipment and intangible assetsInvestments in and disposals of shareholdingsOther19*Including former Daimler Trucks&Buses segment until the date of deconsolidation,Net Industrial Liquidity as of Dec.31,2021 without NIL of former DT&B segment.Dividend PaymentMercedes-Benz Group AGNet Industrial Liquidity 12/31/2020Net Industrial Liquidity 12/31/2021Net liquidityof the former DT&B segmentIn billion eurosRoadshow Presentation FY 2021Daimler InternalMercedes-Benz Group:Dividend*20Earnings Earnings per shareper share(excl.excl.deconsdecons.result.result)in eurosNet Net profitprofit(excl.(excl.deconsdecons.r result)esult)in billion euros4.014.220202021+254%+254%3.3912.8920202021+280%+280%DividendDividendproposed in euros4.32020 0.7 DT&B20211.45.0+270%+270%*Including former Daimler Trucks&Buses segment until the date of deconsolidation,earnings per share and dividend proposal based on net profit,which is excluding deconsolidation resultRoadshow Presentation FY 2021Daimler InternalI.RESULTS FY 2021II.II.OUTLOOK FY OUTLOOK FY 20222022III.STRATEGY1.MERCEDES-BENZ CARS2.MERCEDES-BENZ VANS3.MERCEDES-BENZ MOBILITY21AGENDARoadshow Presentation FY 2021Daimler Internal2021 Segment and Group KPIs as guidance base for reference*The adjustments include material adjustments if they lead to significant effects in a reporting period.These material adjustments relate in particular to legal proceedings and related measures,restructuring measures and M&A transactions(e.g.Spin-off).*Adjusted Cash Flow before Interest and Taxes(CFBIT)divided by adjusted EBIT.22Unit SalesMercedes-Benz Cars1,944 thousandMercedes-Benz Vans386 thousandReturn on Sales(adjusted*)Mercedes-Benz Cars13.1%Mercedes-Benz Vans8.3%Mercedes-Benz Mobility(RoE)22.0%Cash Conversion Rate*(adjusted)Mercedes-Benz Cars0.8Mercedes-Benz Vans1.3Investment in pp&eMercedes-Benz Cars 3.6 billionMercedes-Benz Vans 0.2 billionR&D expenditureMercedes-Benz Cars 7.2 billionMercedes-Benz Vans 0.5 billionRevenueMercedes-Benz Group 133.9 billionEBITMercedes-Benz Group 16.0 billionFree Cash Flow(Industrial Business)Mercedes-Benz Group 7.9 billionThe base for the comparative guidance are the respective continued operations KPIs of 2021.Roadshow Presentation FY 2021Daimler InternalMercedes-Benz DivisionalGuidance2022Unit SalesMercedes-Benz CarsSlightly aboveMercedes-Benz VansSlightly aboveReturn on Sales(adjusted*)Mercedes-Benz Cars11.5 to 13%Mercedes-Benz Vans8 to 10%Mercedes-Benz Mobility(RoE)16 to 18%Cash Conversion Rate*(adjusted)Mercedes-Benz Cars0.8 to 1.0Mercedes-Benz Vans0.6 to 0.8Investment in pp&eMercedes-Benz CarsSlightly aboveMercedes-Benz VansSignificantly aboveR&D expenditureMercedes-Benz CarsSlightly aboveMercedes-Benz VansSignificantly aboveASSUMPTIONThe macroeconomic conditions will continue to be comparatively favourable for the global demand forcars in 2022.However,it currently looks as if the semiconductor-related supply bottlenecks will continueto impact the market.Therefore we assume,we will initially continue to face strained supply chains andbottlenecks for key upstream products for automobile production.The further geopolitical as well as thecovid-19 pandemicdevelopmentalso harbour uncertainties.*The adjustments include material adjustments if they lead to significant effects in a reporting period.These material adjustments relate in particular to legal proceedings and related measures,restructuring measures and M&A transactions(e.g.Spin-off).*Adjusted Cash Flow before Interest and Taxes(CFBIT)divided by adjusted EBIT.23Roadshow Presentation FY 2021Daimler InternalASSUMPTIONThe macroeconomic conditions will continue to be comparatively favourable for the global demand forcars in 2022.However,it currently looks as if the semiconductor-related supply bottlenecks will continueto impact the market.Therefore we assume,we will initially continue to face strained supply chains andbottlenecks for key upstream products for automobile production.The further geopolitical as well as thecovid-19 pandemicdevelopmentalso harbour uncertainties.The base for the comparativeguidance are the respectivecontinuedoperations KPIsof 2021.Mercedes-Benz Group Guidance202224RevenueSlightly aboveEBITAt prior-year levelFree Cash Flow(Industrial Business)Slightly belowCO2emission(g/km)*At prior-year level*New car fleets average CO2 emissions in Europe(European Union,Norway,Iceland)Roadshow Presentation FY 2021Daimler InternalI.RESULTS FY 2021II.OUTLOOK FY 2022III.STRATEGYSTRATEGY1.MERCEDES-BENZ CARS2.MERCEDES-BENZ VANS3.MERCEDES-BENZ MOBILITY25AGENDARoadshow Presentation FY 2021Daimler InternalStrategic priorities for this year26Alleviate supply constraintsGrow luxury businessAcceleratecar softwareScale electric vehiclesFocus relentlessly on costsRoadshow Presentation FY 2021Daimler InternalThree levers to sustainably improve our cash flow27Roadshow Presentation FY 2021“Free up cash”“Free up cash”“Improve“Improve cash flow steering”cash flow steering”“Establish“Establishcash flow culture”cash flow culture”Reduction of working capitalReduction of working capital:from purchase to production to sales Joint optimization of Joint optimization of inventories inventories alo