Full Year 2018 Results Presentation4 April 2019

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estimates are accurate.

2

Participants

Jesús Pascual, Chief Executive Officer

Cristina Blanco, Chief Financial Officer

Carlos Garcia-Mendoza, Capital Markets and IR

3

2018 Highlights

80car models

that came to market in 2018

Grupo Antolin has been present in…

9 out of 10 best-selling cars

that came to market in 2018

429projectsin total

112 new projects

in 2018

Issuance of €250 million in Senior Secured Notes with an 8-year maturity

and yearly fixed coupon of 3.375% - April

Amendment and restatement of €378 million Senior Facility Agreement including €50 million of additional borrowing - April

€100 million Senior Facility Agreement entered into with the EIB - June

Redemption of €400 million 5.125% Senior Secured Notes due 2022 - June

Application of IFRS 15

4

IFRS 15 Applied IFRS 15 Not Applied

2018 2017 Change 2018 2017 Change

Revenue 5,424.6 5,391.4 0.6% 5,015.8 5,036.7 -0.4%

EBITDA 355.9 465.7 -23.6% 355.9 465.7 -23.6%

EBITDA margin 6.6% 8.6% - 7.1% 9.2% -

EBIT 160.9 291.0 -44.7% 160.9 291.0 -44.7%

EBIT margin 3.0% 5.4% - 3.2% 5.8% -

2018 Highlights (cont’d)

The application of IFRS 15 as of January 1 2018 has meant a €409m increase in Revenue as a result of

including Tooling revenue. This has not had any impact on EBITDA or EBIT. Prior to IFRS 15, the result

of Tooling sales minus Tooling costs was reflected under “Other operating income”

5

2018 Highlights (cont’d)

Sales of €5.4bn under IFRS 15, at constant currencies up 3.2% from 2017 and versus -0.5%* industry

production growth

− Including FX impact, sales increased 0.6%

− Not considering IFRS 15, sales of € 5.0bn, growth of 2.2% at constant currencies

EBITDA of €356m, at constant currencies down 19.6% from 2017, margin of 6.6%

− Including FX impact, EBITDA decreased 23.6%

− Not considering IFRS 15, margin of 7.1%

EBIT of €161m, down 44.7% from 2017, margin of 3.0%

− Not considering IFRS 15, margin of 3.2%

Year end cash of €311m and €252m of available revolving credit facilities, with year end net leverage ratio of

2.58x and interest coverage ratio of 9.28x*Source: LMC Global Automotive Production. Quarter 4, 2018

6

Sales Breakdown Doors, Cockpits and Lighting driving sales growth

Overheads impacted by plant closure in Germany and decreased activity in Germany,

UK and Michigan.

Doors benefits from launches in NAFTA and China

Lighting supported by growth in China

Cockpits launches in China and US offset declines in UK

FX impact represents c. € 138m of decreased sales

Strong performance in NAFTA and APAC helped compensate European weakness

European sales principally reflect ongoing German plant closure and sales declines in

Germany and UK

NAFTA sales reflect Dodge Ram launch and increased Mexican sales in Doors, US

strength in Cockpits, compensating Overheads sales declines

China sales up 31% vs market production down 3.5% in 2018**. Significant growth in

Cockpits

**Source: LMC Global Automotive Production. Quarter 4, 2018

2.128 2.061

1.828 1.886

324 349

1.108 1.126

2017* 2018

Overheads Doors Lighting Cockpits

5,391 5,425

EU

Rm

- 3%

+ 0.6%

+ 3%

+ 8%

+ 2%

2.950 2.734

1.809 1.946

511 61889 90

2017* 2018

Europe NAFTA APAC Mercosur Africa

EU

Rm

+ 2%

- 7%

+ 21%

+ 8%

*2017 data excludes Seating Business Unit7

EBITDA Breakdown

Growth across all Business Units except for Overheads

Overheads impacted by:

Trunk trim projects in Hungary, Spartanburg and Alabama

Continued underperformance in Kentucky and Slovakia

Ongoing German plant closure

Sales declines in Europe (Germany and UK)

European underperformance impacted Overheads across Central Europe due to trunk trim projects in Hungary, new product launches in Slovakia and lower sales in Germany. Doors impacted by UK sales declines.

Non-industrial results reflect consolidation effects and overhead expenses. 2017 was significantly affected by provision reversals

8.6%Margin 6.6%

*2017 under IFRS 15 and excluding Seating Business Unit

191103

201

204

58

62

77

89

(61) (102)

Overheads Doors Lighting Cockpits Non Industrial

466356

EU

Rm

+ 66%

- 23.6%

- 46%

+ 1%

+ 6%

187103

185

179

81

65

5

0

2017* 2018

Europe NAFTA APAC Mercosur Africa

EU

Rm

- 19%

- 45%

- 3%

- 97%

2017* 2018

+ 16%

8

3 4 8 5

-

466

356

13 14

11 8 6 10 1 0 7 6 8 1 10 3 5

8 19

-

50

100

150

200

250

300

350

400

450

500

FY

'17

Q1

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FX

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*Oth

ers

FY

'18

FY 2018 EBITDA Bridge

Q1 Impacts Q2 ImpactsE

UR

mQ3 Impacts

*Others includes provisions, consolidation adjustments, operating expenses and other minor launches, among others

Q4 Impacts

9

2018 Key Underperformers

Total negative EBITDA from these key facilities was € 58m in 2018

Agreement to sell Tianjin facility, expected to close in H1 2019

Significant management reinforcements in USA working to revert situation in 2019

Rastatt closure fully provisioned

Trunk trim operations in Spartanburg and Alabama being reconfigured

Overheadsfacilities

-30

-25

-20

-15

-10

-5

0

5Tianjin SPT D SPT A SPT H Kentucky Alabama Rastatt

EBITDA €m

2017 2018

0

50

100

150

200

250

300

Tianjin SPT D SPT A SPT H Kentucky Alabama Rastatt

Sales €m

2017 2018

10

2018 Financial Highlights

Cash available of EUR 311m

Available revolving credit facilities of EUR 252m

LTM EBITDA of EUR 356m and Net Debt to EBITDA of 2.58x

Net debt average maturity of 5.6 years

Cash and long term undrawn committed credit lines of EUR 563m vs short term maturities of EUR 78m

11

EBITDA Capex Taxes ΔWC FCF

Q1-18 84 (54) (8) (97) (76)

Q2-18 113 (78) (17) (31) (13)

Q3-18 57 (72) 5 20 9

Q4-18 102 (116) (2) 189 170

Total 356 (320) (22) 77 91

RemarksCash flow for WC* (€m)

Capex (€m) Free cash flow

Total net working capital decreased by €77m in 2018− Operating working capital increased by €17m− Tooling working capital declined by €94m

In December 2018 the Company carried out € 72m in non-recourse factoring− € 37m of operating receivables to compensate delayed collections

from Spanish tax authorities (received in January ‘19)− € 35m of tooling receivables to compensate delayed collections from

customers (received in February ‘19) Bamberg opening in 2019 + 1 significant greenfield facility launching in 2019 -

Cuautitlán for Doors and Instrument Panels for Ford with SOP in 2020

208 185

125135

2017 2018Tangible Intangible

(21)

77

2017 2018

* Under IFRS 15 sales of € 5.39bn

Free cash flow

% of sales 6.2%* 5.9%

12

2019 2020 2021 2022 2023 2024 2025 2026 2027Term Loan Soft loans EIB Leasings SSN 26 Other loans ST Credit & Interests SSN 24

Balanced, long term capital structure

Gross debt 31 December 2018€1,249m

Net debt 31 December 2018€938m

€650m senior secured notes

€411m senior financing

€100m EIB facility

€4m soft loans with cost; €19m soft loans with no cost

€62m other facilities, of which €50m are credit lines

€3m accrued interests

Cash available of €311m

For covenant purposes, Net debt totalled € 918 million (excludes soft

loans without financial cost, includes cash using 12 month FX average).

€200m undrawn syndicated revolving credit facility, and €52m undrawn

local credit lines

Covenants

2.58x Net Debt/EBITDA 9.28x EBITDA/Financial expenses

Covenant: under 3.50x Covenant: over 4.00x

€ 356mDec 2018 EBITDA

78

227

417

265

1531

170

1524

13

2019 Outlook

Component revenue growth ≈ flat

Non-IFRS 15 EBITDA margin c. 8%

Capex c. 5.5-6% of revenue

Working Capital stable as a percentage of LTM revenue

Leverage is expected to end the year at c. 2.5x

Dividend of € 14m (≈ pay out ratio of 30% of Net Income)

We may from time to time and depending on our liquidity position, market conditions and other factors,

repurchase our debt, including the 2024 Notes and the 2026 Notes

14

Current trading

IFRS 15 YTD February 2019 YTD February 2018 % change

Revenue €803.72m €819.75m (2.0)%

EBITDA €48.55m €47.51m 2.2%

EBITDA Mgn. 6.0% 5.8%

Sales in the first months of 2019 have been in line with budget and weaker than 2018 given industry-wide slowdowns

EBITDA margin has shown some recovery on the back of Company’s restructuring efforts

15

Q&A

www.grupoantolin.com

investor.relations@grupoantolin.com

+34 947 47 77 00