Full Year 2019 Results Presentation22 April 2020

Disclaimer

This information has been prepared solely for the purpose of assisting the recipient (the “Recipient”) in starting to conduct its own independent evaluation and analysis of Grupo Antolín-Irausa, S.A. and its subsidiaries (the “Group”). No representation or warranty (whether express or implied) is given in respect of any information in this presentation or that this presentationis suitable for the Recipient’s purposes.

The information herein is not all-inclusive nor does it contain all information that may be desirable or required in order to properly evaluate the Group. Neither the Group nor any of itsofficers, directors, employees, affiliates or advisors will have any liability with respect to any use of, or reliance upon, any of the information herein. The Recipient acknowledges andagrees that it is responsible for making an independent judgment in relation to information contained herein and for obtaining all necessary financial, legal, accounting, regulatory, tax,investment and other advice that it deems necessary or appropriate. Neither the Group nor any of its officers, directors, employees, affiliates or advisors is responsible as a fiduciary and isnot acting as an advisor (as to financial, legal, accounting, regulatory, tax, investment or any other matters) to the Recipient. The Group has no obligation whatsoever to update any of theinformation or the conclusions contained herein or to correct any inaccuracies which may become apparent subsequent to the date hereof.This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of any entity of the

Group, in the United States of America or in any other jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, shouldform the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. Any decision to invest in any securities of the Group or otherwiseparticipate in any financing of the Group should not be based on information contained in this presentation. This presentation is only for persons having professional experience inmatters relating to investments and must not be acted or relied on by any persons. Solicitations resulting from this presentation will only be responded to if the person concerned is aperson having professional experience in matters relating to investments. This presentation does not constitute a recommendation regarding the securities of the Group.

This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of the Group (“forward looking statements”), which reflectvarious assumptions concerning anticipated results taken from the current business plan of the Group or from public sources which may or may not prove to be correct. These forwardlooking statements contain the works “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar meaning. Such forward-looking statements reflect current expectationsbased on the current business plan and various other assumptions and involve significant risks and uncertainties, and should not be read as guarantees of future performance or resultsand will not necessarily be accurate indications of whether or not such results will be achieved. The Group is not under any obligation to update or revise such forward-looking statementsto reflect new events or circumstances.

Certain financial data included in this presentation consists of “non-GAAP financial measures.” These non-GAAP financial measures may not be comparable to similarly titled measurespresented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with International Financial Reporting Standards.Although the Group believes these non-GAAP financial measures provide useful information to users in measuring the financial performance and condition of its business, users arecautioned not to place undue reliance on any non-GAAP financial measures and ratios included in this presentation. Market and competitive position data in this presentation hasgenerally been obtained from studies conducted by third-party sources. There are limitations with respect to the availability, accuracy, completeness and comparability of such data. TheGroup has not independently verified such data and can provide no assurance of its accuracy or completeness. Certain statements in this presentation regarding the market andcompetitive position data are based on the internal analyses of the Group, which involves certain assumptions and estimates. These internal analyses have not been verified by anyindependent sources and there can be no assurance that the assumptions or estimates are accurate.

1

Participants

Jesús Pascual - Chief Executive Officer

Cristina Blanco - Chief Financial Officer

Carlos Garcia-Mendoza - Capital Markets and IR

2

413Live projects

in Dec ‘19

100Cars models

That came to Market in 2019

10 out of 10Global best-selling cars

in 2019

120 New projects

in 2019

2019 Highlights

Grupo Antolin has been present in…

10 out of 10Best-selling cars

in Europe in 2019

10 out of 10 Best-selling cars

in USA in 2019

Vs 429in ‘18

Vs 112in ‘18

Vs 80in ‘18

Vs 9 of 10in ‘18

3

Leading transformational change

Leading the transformation of the automotive industry from inside the vehicle

Developing a sustainable business model that creates value for all our stakeholders (customers, employees, investors, suppliers and society in general)

Enhancing our position as a global provider of automotive interior technology solutions

Consolidating Antolin as key partner for manufacturers in the development of their future vehicles

Despite challenging environment, Antolin continued its transformation, focusing on four main goals:

4

Strategic progress

Smart Integrator: Developing more complex and integrated systemswith added value through technology, electronics, decorativesurfaces and lighting solutions. Leading new mobility transformation

Partnering with key technology providers

Increasing our electronic capabilities

New Electronic System Business Unit (May 2020): Improve the customers recognition of Antolin’s electronics capabilities (technical

and commercial) through a global internal team and strategic partnerships Develop electronics capabilities in lighting, smart surfaces and integration in

selected components Support the other BUs in developing integrated components featuring

electronics, as well as directly developing and marketing purely electronicsystems: ECU-Electronic Control Units (Ambient Lighting, Doors, WR...)

Bamberg facility: Grupo Antolin ’s lead center for lighting electronics The latest and most advanced technology and processes It produces over 2,500 different items for the main premium carmakers

5

Partnering with key technology providers

Eyesight partnership focused on driver and occupancy monitoring

Driver sense: distraction, drowsiness, personalization, demographics, driver intention

Cabin sense: occupancy, personalization, posture, objects

Hi-Rain, a leading Chinese automotive electronics provider

To develop innovative lighting solutions for OEMs in the Chinese market

A key partner to strengthen Grupo Antolin’s growth in China

One year and a half of successful cooperation

All the surfaces inside a vehicle can benefit from Walter Pack know-how and Grupo Antolin expertise in integration to become aesthetically pleasing surfaces

Walter Pack, a leader in decorativetechnical surfaces and parts

6

2019 Highlights

Total revenue of € 5.2bn, down 3.9%

Component sales of € 4.9bn, down 3.2%, versus -5.6%* industry production decline

Tooling sales of € 358m, down 12.4%

EBITDA of € 435m, up 22.2%, margin of 8.3%

EBITDA excluding IFRS 16 of € 362m, up 1.7%, margin of 6.9% (vs. 6.6% in 2018)

EBIT of € 140m down 12.7%, margin of 2.7% (vs. 3.0% in 2018)

Efficiency program on track to achieve c. € 50m net savings in 2021 pre Covid19. Reviewing in light of production uncertainties

*Source: LMC Global Automotive Production. March 2020

7

2019 Sales Breakdown

Doors offsetting sales declines in other Business Units

Headliners growth in US and Mexico mitigated lower sales in UK,Germany and Hungary, as well as German closure.

Doors sales growth in the USA and Czech Republic partially offset byMexican slowdown.

Cockpits reflects slowdown in China, USA and UK, partially offset bygrowth in Czech Republic and Germany.

Lighting reflects decreased sales in China and France.

Overall, strong performance in USA (Shelby - Dodge,Alabama – Daimler) and Czech Republic (German OEMs)helped to partially compensate declines in China (JLR,Geely/Volvo, VW), Mexico (FCA) and UK (JLR).

China yearly sales down 26%, reflecting the sale of Tianjin.Effects felt principally in the Cockpits Business Unit.

20182019

20611921

18861976

349 334

1126 975

Headliners Doors Lighting Cockpits Others

5,425 5,214

EURm

- 7%

- 3.9%

+ 5%

- 4%

- 13%

20182019

27342642

19461960

618 47890 88

Europe NAFTA APAC Mercosur Africa

EURm

- 2%

- 3%

- 23%

+ 1%

8

2019 EBITDA Breakdown

Headliners decline principally due to effects of Spartanburg, UK and Hungary despite improvements inAlabama and Kentucky

Doors impacted by Mexico and Spartanburg, despite growth in Shelby

Lighting reflects successful project launches in Germany and China

Cockpits reflects successful German launches and sale of Tianjin, offsetting declines in the USA

2018

2019PF ex IFRS 162019 IFRS 16

10394

120

204198 222

6282 86

8990 105

(102)(103)

(98)

Headliners Doors Lighting Cockpits Non Industrial

356 362

EURm

Margin overTotal Revenues

-3%

+3%

+1.7%

-9%

+32%

+2%

435

2018

2019PF exIFRS 162019 IFRS 16

103104 146

179150

172

6586

920 14

148 8

9

Europe NAFTA APAC Mercosur Africa

-16%

+1%

n.a.+32%

-3%

6.6% 6.9% 8.3%

9

-12,0

-10,0

-8,0

-6,0

-4,0

-2,0

0,0

2,0

4,0

Spartanburg Alabama

EBITDA €m

Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019

2019 Adjusted EBITDA

Adjustment excludes Spartanburg to better reflectCompany’s overall underlying performance

Increased sales and efficiency driving quarterly EBITDAimprovement.

Spartanburg (-€36m in ‘19, -€23m in ‘18) reflects advances in productionrestructuring (Headliner production moved to other Antolin USAfacilities; Trunk trim and Plastics activities discontinued) and clientagreements partially implemented, partially offset by Decemberinventory adjustments of c. $2m.

Alabama (-€6m in ‘19, -€10m in ‘18) is benefitting from completedproduction restructuring (Headliner production moved to other AntolinUSA facilities) and client agreements.

0

10

20

30

40

50

60Spartanburg Alabama

Sales €m

Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019

$ 2m inventory adj.

2018 Adj

2019PF exIFRS 16Adj 2019 IFRS 16 Adj

109108

134

220220 244

62 8286

89 90105

-102-105

(101)

Headliners Doors Lighting Cockpits Non Industrial

379 398

EURm

Reported Margin

0%

+3%

+5.2%

-1%

+32%

+1%

Adj. Margin

471

+€14m vs reported

+€22m vs reported

+€6m vs reported

+€16m vs reported

6.6% 6.9% 8.3%

7.1% 7.9% 9.3%

10

2019 Financial Highlights

€ 104m in net debt reduction in 2019: € 72m non-recourse factoring € 15m 2024 SSNs € 17m SFA

No factoring as of 31 December 2019

Cash available of € 274m

Available revolving credit facilities of € 250m

EBITDA of € 362m (excluding IFRS 16) and Net Debt to EBITDA of 2.46x

Net debt average maturity of 4.3 years

Cash and long term undrawn committed credit lines of €524m vs short term maturities of € 47m (€ 19.5m in credit lines, renewed to 2021 as of 15/4/20)

Purchase and cancellation of 2024 SSNs : € 9.6m in April € 5.0m in June Additionally, shareholders and management purchased € 2.8m in April

11

20202021

20222023

20242025

20262027

2028Term Loan Soft loans EIB Leasings SSN 26 Other loans ST Credit & Interests SSN 24

Balanced, long term capital structure

Net debt 31 December 2019€907m

Covenants

Gross debt 31 December 2019€1,180m

€635m senior secured notes

€394m senior financing

€100m EIB facility

€4m soft loans with cost; €16m soft loans with no cost

€27m other facilities, of which €20m are credit lines

€5m accrued interests

Cash available of €274m

For covenant purposes, Net debt totaled € 890 million (excludessoft loans without financial cost, includes cash using 12-monthFX average).

€200m undrawn syndicated revolving credit facility, and €50mundrawn local credit lines

2.46x Net Debt/ EBITDA 12.2x EBITDA/Financial expenses Covenant: under 3.50x Covenant: over 4.00x

€ 362mDec 2019 EBITDA 47

403

15

157

170227 265

31

12

2018

2019

918796

749758

-1135-1025

Payables

Receivables

Inventories ▼ 110

▼3

▼122

▲9

532528

Free Cash Flow

Net working capital improved € 3.5m in 2019: Tooling working capital decreased by € 42m

Tooling working capital as % of LTM sales improved to 3.7% from 4.4%

Operating working capital increased by € 38m

Operating working capital as % of LTM sales was stable

If we add-back € 72m of December 2018 Non-recourse factoring, net workingcapital improved by € 76m in 2019

1 significant greenfield facility launching in 2020: Cuautitlán,Doors and Instrument Panels facility for Ford

Remarks

Free cash flow

EBITDA Capex Taxes ΔWC Factoring FCF

Q1-19 85 (59) 25 (78) (72) (99)

Q2-19 109 (63) (17) 62 - 91

Q3-19 63 (80) (6) 22 - (1)

Q4-19 105 (99) (9) 70 - 67

Total 362 (301) (7) 76 (72) 58

Working capital

Capex (€m)

20182019

185160

135141

Intangible

Tangible

% of Total Revenues

320301-6%

-14%

+5%

5.9% 5.8%

% of Total Revenues 9.8% 10.1%

13

Preliminary Q1 2020 trading

Sales in the first 2 months of 2020 have been in line with budget

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

March reflects Covid-19 impact

31 March 2020E Net Debt/ EBITDA = 2.65x compared to 2.89x in March 2019 and 3.50x Covenant

2020IFRS 16

January February March Q1 2020E Q1 2019 % Chg.

Revenue €376m €401m €277m €1,054m €1,269m -17,0%

% Monthly Chg. - 6.6% -31.0% - -

EBITDA €24m €39m €14m €77m € 100m -23.3%

% Monthly Chg. - 62.1% -64.6% - -

EBITDAMgn. 6.4% 9.7% 5.0% 7.3% 7.9%

14

Covid19 Update

Global LV production Q1 2020E down 6.1% YTD (41.9% in March)*

Antolin production footprint April ‘20 C. 100% of China facilities open, ramping up production

C. 36% of European facilities open with limited production

C. 4% of NAFTA facilities open with limited production

Business continuity at Antolin: Increased focus on employee health and safety

Daily Covid19 taskforce meetings, chaired by CEO, ensuring coordination across the organization

Coordination with customers and suppliers to ensure supply chain logistics

Preserving financial strength and liquidity

C. 600 employees working remotely

Social commitment at Antolin: Producing 40,000 protective gowns for public hospitals in Spain

Current situationTotal cash as of 31 March 2020 of € 380m

Includes € 100m drawdown of RCF in March 2020

Restricted cash of € 67m, principally at Chinese JVs

Available and undrawn credit lines of € 151m as of 31 March 2020

€ 100m of available RCF due June 2023 subject to covenants

€ 51.5m of bilateral credit lines renewed annually, €45m in China renewed to 2021 as of 15/4/2020

Available non-recourse factoring lines of c. € 100m

FY 2020 maturities of € 47m: € 16.8m of senior financing (€8.4m in June and December). Syndicate of 13

banks

€ 19.5m in short term credit lines in Chinese JVs, renewed to 2021 as of 15/4/2020

€ 3.9m in soft loans to Spanish government agencies

€ 2.6m in other loans to Spanish entities

€ 3.7m interest payments

€ 0.7m leasing

Solid financial position

*Source: LMC Global Automotive Production. 16 April 2020

March ‘20 YTD March ‘20Europe ▼39.8% ▼4.4%NAFTA ▼33.3% ▼4.5%China ▼61.4% ▼10.4%

15

Covid19 Operational Response

16

Management Daily taskforce meetings Weekly updated rolling 13-week liquidity planner Contractual obligations to suppliers and customers under review

Health & Safety

Prevention protocol to resume production while guaranteeing the health and safety of employees and avoid the spread of Covid-19

Mandatory for all Antolin employees Workplace norms and daily life considerations: visitor restrictions, safety distance,

videoconferencing, cleaning, disinfection and ventilation, protective equipment

Cost measures

Unanimous voluntary temporary salary cuts across all senior management Excluding managers, all other staff furloughed Other initiatives: travel and discretionary expenses banned, marketing budget cut,

subcontracting eliminated Efficiency improvement ongoing and to be enhanced once situation normalizes

Covid19 Liquidity Response

17

Financing

€ 200m revolving credit facility drawn by 50%, remaining € 100m remains fully available € 50m other credit lines already extended until April 2021 C. € 100m non-recourse factoring committed and available Evaluating eligibility for governmental aid programs across all geographies Dividend payments in 2020 cancelled by shareholders

Working capital Cash collection monitoring, situation normal to date Inventory minimized but will ensure continuity at ramp-up Supplies paused except those critical for business continuity

Capex C 20% of total capex planned for Q1 2020 postponed Temporary measures to postpone Q2 and Q3 2020 investments C. 16% of 2020 R&D investments postponed due to adjusted customer schedules

Outlook Given uncertainty, 2020 outlook postponed

Q&A

*Source: LMC Global Automotive Production. March 2020

18

IFRS 16

As of December 31, 2019 the application of IFRS 16 has meant a €72.8m increase in EBITDA and anincrease of € 328.9m in leasing-related debt

IFRS 16 & 15 Not Applied2019 2018 Change

4,856.0 5,015.8 -3.2%

362.0 355.9 1.7%

7.5% 7.1% -

135.9 160.9 -15.5%

2.9% 3.2% -

IFRS 16 IFRS 16 Not Applied2019 2019 2018 Change

Revenue 5,214.2 5,214.2 5,424.6 -3.9%

EBITDA 434.9 362.0 355.9 1.7%

EBITDA margin 8.3% 6.9% 6.6% -

EBIT 140.4 135.9 160.9 -15.5%

EBIT margin 2.7% 2.6% 3.0% -

19

www.grupoantolin.com

investor.relations@grupoantolin.com

+34 947 47 77 00