Automotive   |   Mercedes-Benz Group AG
Roadshow Presentation  
FY 2021  
Mercedes-Benz Group AG  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
2
Mercedes-Benz Group: Achievements 2021  
Increased financial robustness managing through  
the pandemic & semiconductor shortages  
Accelerated strategy implementation,  
especially electric vehicles & automated driving  
Established new company structure successfully  
Roadshow Presentation FY 2021  
3
Q4/FY reporting changes due to Spin-off Daimler Trucks & Buses  
Group P&L (Financial Statements)1  
Segment P&L  
Q4/FY  
Until Q3 2021  
Continued Operations (CO)  
Mercedes-  
Benz  
Cars & Vans  
Daimler  
Daimler  
Trucks &  
Reconciliation  
Mainly: Mercedes-Benz Cars & Vans,  
Mercedes-Benz Mobility², Reconciliation  
Mobility  
Buses  
Presented as usual line item  
Since Q4 2021  
Discontinued Operations (DO)  
Mercedes-  
Mercedes-  
Benz  
Reconciliation  
(incl. Daimler  
Trucks & Buses)  
Mainly: IB Daimler Trucks & Buses  
Benz  
Cars & Vans  
Mobility  
Presented as separate single line  
item ”Discontinued operations”,  
covering EBIT, interest and taxes  
Internal and external reporting of Q4 2021 changes to reflect Group structure post spin-off  
Presented 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.  
1
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 Daimler’s 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-Benz’s financial statements. More detailed information is provided in the annual report.  
²
Roadshow Presentation FY 2021  
4
Mercedes-Benz Group: Key figures*  
Revenue  
in billion euros  
EBIT  
in billion euros  
EBIT adj.**  
in billion euros  
Free Cash Flow (IB)  
in billion euros  
Net Industrial Liquidity  
in billion euros  
+
9%  
+340%  
+123%  
+18%  
21.0  
1
68.0  
29.1  
19.2  
.1  
2
1
1
54.3  
1
7.9  
3
4.1  
3
2.5  
1
3.0  
+
4%  
8
0
.6  
.7  
8
.3  
8
0
.6  
.7  
1
7.2  
21.8  
133.9  
2021  
6
0
.6  
.5  
16.0  
7
.9  
8
.0  
6
.1  
2
020  
2020  
2021  
2020  
2021  
2020  
2021  
2020  
2021  
continued operations  
discontinued operations  
* Including former Daimler Trucks & Buses segment until the date of deconsolidation  
*
* excl. deconsolidation result  
Roadshow Presentation FY 2021  
5
Daimler Internal  
Mercedes-Benz Cars & Vans: Key messages  
Strong market demand for top end vehicles:  
record sales for Maybach, AMG and G-Class  
Acceleration of EVs: 4 new BEVs introduced,  
strong EQS demand; Van EV deliveries doubled  
Automated driving: next milestone with  
industry-first Level 3 approval in Germany  
Resilience increased: revenue quality and cost  
efficiency improved; break even further reduced  
Restructuring: significant progress in ICE plant  
transformation  
Roadshow Presentation FY 2021  
6
Daimler Internal  
Mercedes-Benz Cars:  
Top-end and electric vehicle unit sales  
In thousand units  
-
7%  
2
,087  
+
30%  
1
,944  
3
05*  
+
64%  
G
4
1
1
7
Maybach  
272  
2
36*  
3
4
1
0
1
1
35 AMG  
1
66  
19  
182 PHEV  
1
21  
1
S
53 EQS  
GLS  
thereof  
1
01  
9
0
BEV  
4
7
2
020  
Total MBC  
2021  
2020  
2021  
2020 2021  
Electric vehicles  
Top-end vehicles  
*
w/o double counting (e.g. G63, S-Class Maybach)  
Share in % of volume  
10%  
16%  
8%  
14%  
Roadshow Presentation FY 2021  
7
Mercedes-Benz Vans: Electric vehicle unit sales  
In thousand units  
+
3%  
+
119%  
3
86  
1
4
3
75  
ereof  
6
thereof  
2
020  
2021  
2020  
2021  
Total MB Vans  
Battery electric  
vehicles  
Share in % of volume  
2%  
4%  
Roadshow Presentation FY 2021  
8
Mercedes-Benz Cars & Vans:  
Internal data confirms CO compliance 2021 in Europe  
2
Target ~125g*  
115g  
NEDC WLTP  
WLTP  
Preliminary actuals 2020  
excluding regulatory factors**  
* Estimated target level Mercedes-Benz Group 2021ff new car fleet’s 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 2021  
9
Mercedes-Benz Cars & Vans: Financials  
Sales  
Revenue  
EBIT adj.  
CFBIT adj.  
in million units  
in billion euros  
in billion euros  
in billion euros  
-
5%  
+11%  
+105%  
13.9  
2
.46  
1
09.6  
2
.33  
+
55%  
1
2.3  
9
8.6  
7
.9  
6
.8  
2
020  
2021  
2020  
2021  
2020  
2021  
2020  
2021  
Roadshow Presentation FY 2021  
10  
Mercedes-Benz Cars & Vans: FY EBIT & RoS  
In million euros  
Gross Profit +7,627  
9
,123  
-
235  
5
33  
13,914  
1
3,626  
-
1,261  
-
170  
-
197  
-
288  
-
680  
Strongly improved net pricing  
Favourable product mix  
1
,630  
6,802  
RoS:  
RoS:  
Positive development of used cars business  
1
2.7%  
1
2.4%  
5
,172  
Income from BBAC at-equity, participations and discounting of non-current provisions  
Lower unit sales due to worldwide shortage of semiconductor components  
Disruption in production network due to shortage of semiconductor components  
Higher raw material prices  
RoS:  
RoS:  
.2%  
6
.9%  
Restructuring  
-463  
5
Restructuring  
+1,476  
Legal proceedings -333  
M&A transactions +508  
Higher investment in future technologies and vehicles  
Legal proceedings +154  
Research &  
EBIT  
adjusted  
Volume /  
structure /  
Net pricing  
Foreign  
exchange  
rates  
General  
administrative  
expenses  
EBIT  
adjusted  
2021  
EBIT  
020  
Industrial  
performance  
Selling  
expenses  
non-capitalized  
development  
costs  
EBIT  
2021  
Adjustments  
Others  
Adjustments  
2
2020  
Roadshow Presentation FY 2021  
11  
Mercedes-Benz Cars & Vans: Indicators of Change  
Mercedes-Benz Cars  
Revenue per unit  
in thousand euros  
Active Workforce  
in thousand FTE*  
Fixed Costs  
in billion euros  
R&D  
in billion euros  
Investment in pp&e  
in billion euros  
+
26%  
-
3%  
-5%  
4
9.8  
159.8  
-16%  
8.1  
-
35%  
5
.9  
1
54.9  
3
9.4  
7
.7  
3
.8  
2
019  
2021  
2019  
2021  
2019  
2021  
2019  
2021  
2019  
2021  
*
FTE = Full time equivalent  
Roadshow Presentation FY 2021  
12  
Daimler Internal  
Mercedes-Benz Cars & Vans: EBIT to CFBIT  
In million euros  
1
3,626  
6
,176  
2
,125  
12,295  
-
702  
-
118  
1
0,170  
-
2,718  
CCR:  
0.9  
-
6,095  
CCR:  
.7  
0
t/o  
t/o  
BBAC Dividend  
Result at-Equity BBAC -1,553  
Cellcentric -604  
+1,523  
Legal proceedings +1,658  
New vehicle stock  
+671  
Restructuring  
+557  
-90  
Unfinished products -1,845  
M&A transactions  
Net investments  
in pp&e and  
intangible assets  
Depreciation and  
amortization/  
impairments  
CFBIT  
adjusted  
2021  
EBIT  
Change in working  
capital  
Net financial  
investments  
CFBIT  
2021  
Other  
Adjustments  
2021  
Roadshow Presentation FY 2021  
13  
Mercedes-Benz Mobility: Key messages  
Spin-off of truck business successfully  
completed (Phase 1 2021)  
New business impacted by semiconductor  
shortage and lower penetration rate  
Reduced portfolio due to truck spin-off and  
lower dealer stock  
Net credit losses on low level due to high  
portfolio quality  
Continuous support for EV sales  
Strategy refocused on core business  
Roadshow Presentation FY 2021  
14  
Mercedes-Benz Mobility: Financials  
New Business  
in billion euros  
Contract Volume  
in billion euros  
EBIT adj.  
in billion euros  
-
11%*  
+116%  
-
6%  
6
7.8  
150.6  
3.4  
6
3.6  
1
33.7  
1
.6  
2
020  
2021  
2020  
2021  
2020  
2021  
*
t/o - 16.8bn EUR Focus effect  
Roadshow Presentation FY 2021  
15  
Daimler Internal  
Mercedes-Benz Mobility: FY EBIT* & RoE  
In million euros  
Lower credit risk reserve due to timely response to Covid-19 pandemic  
in 2020  
Margin benefiting from lower refinancing costs  
Improved operative business performance at mobility services and  
fleet management  
1
,044  
44  
3,493  
8
6
3,449  
Higher expenses due to increased project costs  
-
14  
-
140  
8
90  
RoE:  
22.0%  
RoE:  
22.3%  
1
59  
1,595  
1
,436  
-
12  
RoE:  
RoE:  
.8%  
1
0.9%  
9
Restructuring +67  
YourNow +92  
Restructuring -45  
VIA  
+89  
EBIT  
adjusted  
Foreign  
exchange  
rates  
General  
administrative  
expenses**  
EBIT  
adjusted  
2021  
EBIT  
020  
Cost of  
risk**  
Volume/  
Margin**  
Selling  
expenses**  
Other**  
EBIT  
2021  
Adjustments  
Adjustments  
2
2020  
*
Including former Daimler Trucks & Buses segment until the date of deconsolidation  
** excluding FX effects  
Roadshow Presentation FY 2021  
16  
Daimler Internal  
Mercedes-Benz Group: FY EBIT*  
In billion euros  
9
.8  
29.1  
1.6  
19.2  
1.9  
1
6.0  
7.1  
-
13.0  
2.0  
8.6  
0
.5  
6.6  
6
.1  
Legal proceedings -0.3  
Restructuring -0.7  
M&A transactions +10.9  
t/o Deconsolidation result  
t/o  
EBIT of DO  
+1.4  
(DT + MBM)  
+9.2  
EBIT  
adjusted  
Mercedes-  
Benz  
Cars & Vans  
Mercedes-  
Benz  
Mobility  
EBIT  
adjusted  
2021  
EBIT 2020  
CO)  
EBIT 2020  
(CO & DO)  
EBIT 2021  
(CO & DO)  
EBIT 2021  
(CO)  
DO  
Adjustments  
Reconciliation  
Adjustments  
DO  
(
2020  
*
Including former Daimler Trucks & Buses segment until the date of deconsolidation  
Roadshow Presentation FY 2021  
17  
Mercedes-Benz Group:  
Reconciliation from CFBIT to Free Cash Flow*  
In billion euros  
2
.3  
10.9  
1
0.2  
0.5  
8.6  
-
1.9  
-
0.2  
-0.1  
Legal proceedings  
Restructuring  
+1.7  
+0.8  
-0.2  
t/o  
FCF DO  
+0.7  
M&A transactions  
Free cash flow  
(industrial  
business)  
Free cash flow  
(industrial  
business)  
Mercedes-Benz  
Cars & Vans  
Income taxes  
paid**  
Effects from  
Pensions  
Other reconciling  
item  
Interest paid  
Adjustments  
adjusted  
*
Including former Daimler Trucks & Buses segment until the date of deconsolidation  
* includes internal tax prepayments from Mercedes-Benz Mobility to the industrial business  
*
Roadshow Presentation FY 2021  
18  
Daimler Internal  
Mercedes-Benz Group: Net Industrial Liquidity*  
In billion euros  
6.8  
10.4  
0.0  
-
1.4  
-
7.2  
-
1.4  
Free cash flow industrial business  
FY 2021: € 8.6 billion  
Additions to  
Dividend  
Payment  
Mercedes-Benz  
Group AG  
Net Industrial  
Liquidity  
Depreciation and  
amortizations/  
impairments  
Investments in  
and disposals of  
shareholdings  
Net liquidity  
of the former  
DT&B segment  
Net Industrial  
Liquidity  
12/31/2021  
Earnings and other  
cash flow impact  
Working capital  
impact  
property, plant,  
equipment and  
intangible assets  
Other  
12/31/2020  
*
2
Including former Daimler Trucks & Buses segment until the date of deconsolidation, Net Industrial Liquidity as of Dec. 31,  
021 without NIL of former DT&B segment.  
Roadshow Presentation FY 2021  
19  
Mercedes-Benz Group: Dividend*  
Net profit  
Earnings per share  
(excl. decons. result)  
in euros  
Dividend  
proposed in euros  
(
excl. decons. result)  
in billion euros  
+
254%  
+
280%  
1
4.2  
1
2.89  
+
270%  
5
.0  
0.7  
DT&B  
4
.0  
3
.39  
4.3  
1
.4  
2
020  
2021  
2020  
2021  
2020  
2021  
*
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 result  
Roadshow Presentation FY 2021  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
21  
2021 Segment and Group KPIs as guidance base for reference  
The base for the comparative guidance are the respective continued operations KPIs of 2021.  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Mobility (RoE)  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
1,944 thousand  
386 thousand  
13.1 %  
Unit Sales  
Return on Sales  
8.3 %  
(adjusted*)  
22.0 %  
0.8  
Cash Conversion  
Rate** (adjusted)  
1.3  
€ 3.6 billion  
€ 0.2 billion  
€ 7.2 billion  
€ 0.5 billion  
Investment in pp&e  
R&D expenditure  
Revenue  
Mercedes-Benz Group  
Mercedes-Benz Group  
Mercedes-Benz Group  
€ 133.9 billion  
€ 16.0 billion  
€ 7.9 billion  
EBIT  
Free Cash Flow  
(Industrial Business)  
*
*
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.  
*
Roadshow Presentation FY 2021  
22  
Daimler Internal  
Mercedes-Benz Divisional Guidance 2022  
ASSUMPTION  
The macroeconomic conditions will continue to be comparatively favourable for the global demand for  
cars in 2022. However, it currently looks as if the semiconductor-related supply bottlenecks will continue  
to impact the market. Therefore we assume, we will initially continue to face strained supply chains and  
bottlenecks for key upstream products for automobile production. The further geopolitical as well as the  
covid-19 pandemic development also harbour uncertainties.  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Mobility (RoE)  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Mercedes-Benz Cars  
Mercedes-Benz Vans  
Slightly above  
Slightly above  
11.5 to 13 %  
8 to 10 %  
Unit Sales  
Return on Sales  
(adjusted*)  
16 to 18 %  
0.8 to 1.0  
Cash Conversion  
Rate** (adjusted)  
0.6 to 0.8  
Slightly above  
Significantly above  
Slightly above  
Significantly above  
Investment in pp&e  
R&D expenditure  
*
*
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.  
*
Roadshow Presentation FY 2021  
23  
Mercedes-Benz Group Guidance 2022  
ASSUMPTION  
The macroeconomic conditions will continue to be comparatively favourable for the global demand for  
cars in 2022. However, it currently looks as if the semiconductor-related supply bottlenecks will continue  
to impact the market. Therefore we assume, we will initially continue to face strained supply chains and  
bottlenecks for key upstream products for automobile production. The further geopolitical as well as the  
covid-19 pandemic development also harbour uncertainties.  
The base for the comparative guidance are the respective continued operations KPIs of 2021.  
Revenue  
Slightly above  
At prior-year level  
Slightly below  
EBIT  
Free Cash Flow (Industrial Business)  
CO emission (g/km)*  
At prior-year level  
2
*
New car fleet’s average CO2 emissions in Europe (European Union, Norway, Iceland)  
Roadshow Presentation FY 2021  
24  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
25  
Strategic priorities for this year  
Scale  
electric  
vehicles  
Accelerate  
car  
software  
Grow  
luxury  
business  
Alleviate  
supply  
constraints  
Focus  
relentlessly  
on costs  
Roadshow Presentation FY 2021  
26  
Daimler Internal  
Three levers to sustainably improve our cash flow  
Improve  
Establish  
Free up cash”  
cash flow steering”  
cash flow culture”  
Reduction of working capital:  
from purchase to production  
to sales  
Creating more  
Cash flow as part of the  
Daimler DNA: from  
transparency and  
visibility  
management to employees  
Joint optimization of  
inventories along the value  
chain  
Integration of cash flow  
as an established part  
of our management and  
decision-making  
Demonstrating how  
everyone can positively  
influence the cash flow in  
their day-to-day work  
Target: generate as much  
cash inflow as possible as  
early as possible and as little  
cash out as possible as late  
as possible  
processes  
Establishing cash flow  
orientation as the basis for  
responsible management  
of the scarce resource  
money”  
Roadshow Presentation FY 2021  
27  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
28  
Mercedes-Benz Cars Strategy  
Our goal: We will build the world’s most desirable cars  
Driven by a highly qualified and motivated team  
Sustainability, integrity, and diversity as our foundation  
Roadshow Presentation FY 2021  
29  
We will provide the luxury experience across all touchpoints  
We will focus on profitable growth  
Roadshow Presentation FY 2021  
31  
Clear growth plan  
Time  
Roadshow Presentation FY 2021  
32  
It‘s about owning the customer relationship and leveraging our car park  
and customer base  
Embrace customers  
Grow recurrent revenues  
Luxury experience,  
greater concentration  
Significant  
acceleration  
Personalized  
relationships  
Still significant profit  
growth ahead  
OTA  
upgrades  
Roadshow Presentation FY 2021  
33  
Daimler Internal  
Roadshow Presentation FY 2021  
34  
Daimler Internal  
Our electric product rollout is running at full speed  
EQS order intake is strong even though sales only started in  
August  
In the first three quarters of the year, sales of hybrid and electric  
vehicles surged to a record 184,369 units (+143%)  
EQA  
EQS  
2021  
61,652 plug-in hybrids and all-electric cars were sold in Q3  
(
+34%) of which 19,298 were electric-only vehicles (+38%).  
EQE  
In 2021 alone, we are introducing four new battery electric  
vehicles  
Next year we will present SUV versions of our EQS and EQE  
2
022  
By 2022, we will have battery electric options in all segments we  
serve  
Electrified  
T-Class  
EQE SUV  
EQS SUV  
Roadshow Presentation FY 2021  
35  
Daimler Internal  
Electrifying our brands: leveraging their full potential  
Launch of a sophisticated luxury electric  
Mercedes-Maybach SUV in 2023  
Launch of the fully electric G-Class in 2024  
AMG will go electric: Three BEV models in 2022 a
and redefining high performance with a completely new  
electric architecture  
Roadshow Presentation FY 2021  
36  
Daimler Internal  
At the end of the decade, our focus will be on BEV only  
By 2025, our customers will be able to choose an  
all-electric alternative for every model we make  
It’s our ambition to drive the plug-in hybrid & BEV share  
up to 50% in 2025. By the end of the decade, we will be
to go all-electric where market conditions allow  
We will use our unique brand position to grow economi
-
-
-
-
enhance product mix and pricing  
focus on most profitable models and regions  
drive loyalty and grow recurring revenues  
increase revenue per unit  
Roadshow Presentation FY 2021  
37  
Daimler Internal  
We will launch three EV-only architectures in 2025  
MB.EA  
Following the launch of MMA, the compact “electric first” architecture in  
024, all new Mercedes-Benz vehicle architectures will be electric only  
2
MB.EA: will cover all medium and large size cars.  
Scalable modular system as electric backbone for our EV portfolio  
AMG.EA: dedicated performance electric vehicle architecture  
VAN.EA  
VAN.EA: ushers in a new era for purpose made electric  
vans and Light Commercial Vehicles  
Roadshow Presentation FY 2021  
38  
Daimler Internal  
Together with our partners, we will expand our activities in battery cells  
and systems  
Needed battery volume for all car lines  
Our targets:  
200 Gwh  
Capacity of more than 200 Gigawatt hours  
8
new cell factories around the world:  
one in the U.S., four in Europe  
with our partners  
2019  
2030  
Roadshow Presentation FY 2021  
39  
Daimler Internal  
By joining ACC, we build a European battery champion  
We take a one third stake in Automotive Cells  
Company (ACC).  
Our goal: Joint development and production  
of cells and modules in Europe.  
ACC will reach a capacity of at least 120  
Gigawatt hours in Europe by the end of the  
decade.  
ACC will supply Mercedes-Benz with high-  
performance battery technologies from its  
production locations from mid of the decade.  
Roadshow Presentation FY 2021  
40  
Daimler Internal  
Our batteries will be highly standardized  
Differentiating factors  
More than 90% of all future Mercedes-Benz  
vehicles will be based on a common battery platform  
Chemistry  
We are aiming for a modular battery system that  
consists of uniformly designed components and  
standard interfaces to the entire vehicle  
Only two differentiating characteristics will create  
the necessary variance in terms of range, charging  
and life performance: cell chemistry and size  
Size  
Roadshow Presentation FY 2021  
41  
Daimler Internal  
Developing the next generation battery cell technology  
High-Silicon Anode: increasing energy density  
by using silicon-carbon composite in the anode  
Expected energy density  
Solid-State: pushing energy density beyond limits  
of conventional lithium-ion cell, doubling energy capacity and  
reducing weight in same packaging space, enduring more  
charging cycles over lifetime  
Solid-State  
battery  
High-Silicon  
Anode  
Li-Ion state  
of the art  
Several cooperations with existing and new partners  
to accelerate development of both technologies  
Continuously integrating most advanced cell technology in our  
production cars, increasing  
range during lifecycle  
today  
Mid-  
2028  
decade  
Roadshow Presentation FY 2021  
42  
Daimler Internal  
In-house electric motors are a key part of our strategy  
Ultra-high performance axial motors for our forthcoming  
AMGs. Axial flux technology allows for unmatched  
power density, performance, acceleration  
Electric motor and power electronics company YASA Ltd.  
will be a fully owned subsidiary of Mercedes-Benz.  
Acquisition will take our electric drive tech to a new level  
eATS 2.0: In-house developed and built electric  
drive unit with radial motor: Outstanding  
performance for majority of key products.  
Roadshow Presentation FY 2021  
43  
Daimler Internal  
We are establishing a green and CO2 neutral supply chain  
Raw  
In the future, raw materials for battery  
components only from IRMA-certified mines  
materials  
Processed  
materials &  
components  
Intention to partner with lithium producer Albemarle for  
future lithium supply, lithium recycling and reduction of CO2  
in lithium production  
Recycling  
Battery  
lifecycle  
2nd life  
Cell  
Direct sourcing of battery raw materials  
like nickel and cobalt under consideration  
Vehicle  
Module  
Pack  
2
020: Big River Steel reduced CO emissions by >70% 2021:  
2
Salzgitter AG reduces CO emissions by >60%  
2
2
2
025: CO free steel from H2 Green Steel  
2
026: CO free steel from SSAB  
2
Roadshow Presentation FY 2021  
44  
Daimler Internal  
We want to provide a premium charging experience  
Mercedes me Charge currently comprising more than 690,000 AC and  
DC charging points worldwide. We will expand and enhance our  
charging network with partners like Ionity and ChargePoint  
Mercedes-Benz customers will get enhanced access to the Shell  
Recharge network consisting of over 30,000 charging points by 2025 in  
Europe, China, and North America  including over 10,000 high-power  
chargers globally  
Plug & Charge: no authentication required, automatic payment. Service  
introduced with EQS market launch last year  
Green charging: facilitating charging with clean electricity at all public  
charging points in the Mercedes me Charge network in  
Europe and North America. Further markets being evaluated soon  
Roadshow Presentation FY 2021  
45  
Daimler Internal  
VISION EQXX taking electric range and efficiency to an entirely new  
level  
Efficiency means achieving more from less. The VISION EQXX is packed with  
efficiency improvements that push the envelope with a mixture of advanced  
technology and talented teamwork.  
The outcome is a research prototype that delivers more range from less energy and  
it will prove it on the road. Furthermore, it offers more tangiable luxury and  
convenience with less impact on nature, and more electric mobility with less waste.  
VISION EQXX: key technical data at a glance1  
Battery energy content, usable  
Max. system voltage  
kWh  
<100  
>900  
Volts  
Energy consumption  
kWh/100 km  
<10  
(>6)  
(
miles/kWh)  
cd value  
0.172  
~150  
280  
Max. power output  
Wheelbase  
kW  
cm  
kg  
Gross vehicle weight  
~1,750  
1
2
Range figures preliminary and based on digital simulations in real-life traffic conditions. The VISION EQXX has not undergone type approval or homologation.  
cd figure measured in the Daimler aero-acoustic wind tunnel at a wind speed of 140 km/h  
Roadshow Presentation FY 2021  
46  
Daimler Internal  
We are ready to accelerate EV production  
Bremen  
Kamenz  
Jawor  
Kecskemét  
Ready to scale up: our largest plants in Beijing, Bremen,  
Kecskemét, Rastatt, Sindelfingen, and Tuscaloosa are all  
capable of building EVs and are currently assembling 6  
different BEVs  
Stuttgart  
Sindelfingen  
Rastatt  
2
022: 8 EVs will be produced on 3 continents  
with batteries from our worldwide network  
Tuscaloosa  
Beijing  
Bangkok  
Factory 56: blueprint for our worldwide network in  
terms of flexibility, efficiency, digitalization, and green  
production  
Stuttgart-Untertürkheim & Berlin-Marienfelde:  
two of our major powertrain plants are already  
accelerating their transformation toward a zero-  
emissions future  
EV production  
Battery production  
Roadshow Presentation FY 2021  
47  
Daimler Internal  
Closing the loop: from value chain to value cycle  
2
022: Carbon-neutral production at all Mercedes-  
Benz AG passenger car and battery assembly sites  
Establishing remanufacturing processes and  
repurpose of key components, e.g. batteries can be  
reused to help balance electricity grid  
Planned battery recycling factory in Kuppenheim,  
Germany. Start of operations in 2023, depending on  
promising discussions with public authorities  
Roadshow Presentation FY 2021  
48  
Daimler Internal  
The transformation of our workforce  
Re-shape  
Streamlining  
our organization in a  
responsible way  
Re-charge  
Meeting the  
Mercedes-Benz  
standard  
Re-skill  
Developing  
future-oriented  
qualifications  
as an employer  
Continue effective process of cost reduction working  
together with employee representatives  
Ensuople  
remshift  
New technologies require a new  
area of expertise  
Focus on staff fluctuation and fair solutions  
Intenings  
Create 3,000 new jobs for software  
engineers  
Mercedes-Benz Drive Systems unit enables and  
supports the transformation of our plants  
Emprom  
conv
Attractive contractual framework  
offering innovative employment conditions  
Roadshow Presentation FY 2021  
49  
Daimler Internal  
Our transition plan to go BEV-only  
What we told you  
2
025 BEV  
Ready to go all-electric  
by end of decade  
Faster ramp down  
of Iles  
PHEV transition  
tey  
alternative for every  
What we are going to do  
New BEV architecture  
MB.EA, AMG.EA,  
New battery cell  
New BEV models  
New cooperations  
How we steer our financials  
Net  
revenue  
Contribution  
Margin  
Variable  
costs  
R&D/CAPEX  
Fixed costs Return on sales Cash Flow  
Roadshow Presentation FY 2021  
50  
Daimler Internal  
Revenue quality rising driven by mix and pricing  
Net revenue per unit*  
Key levers  
Net pricing performance  
Positive mix from high end electric vehicles  
Digital services revenue  
Direct sales model  
*
schematic graph  
Roadshow Presentation FY 2021  
51  
Daimler Internal  
BEV cost reduction focus  
Key levers  
Variable costs per unit*  
Material and manufacturing cost reduction of  
1% until 2025  
Further cost reduction on electric drive train  
from 2025 to 2030  
Decreasing cell costs and common battery  
platforms  
Scalable modular electric only architectures  
*
schematic and before mix change  
Roadshow Presentation FY 2021  
52  
Daimler Internal  
Radical shift in capital allocation from EV-first to EV-only  
Key levers  
CAPEX and R&D investments*  
Additional investments for new BEV  
architecture MB.EA, AMG.EA, VAN.EA and  
intensified battery footprint  
Radically reduced non-BEV investments  
Capex share of investments decreasing  
>
20% investment reduction until 2025 and  
further decreases afterwards  
Roadshow Presentation FY 2021  
53  
Daimler Internal  
Fixed cost reduction targets stepped up  
Key levers  
Fixed cost development*  
Covid 2020: significant fixed cost reduction  
2
021: temporary effects replaced by permanent  
measures  
>
2
20% fixed cost reduction until 2025 vs. 2019  
025ff: digitization of all business areas  
2019  
2025  
2030  
After 2025 further net reductions  
Roadshow Presentation FY 2021  
54  
Transformation moves with high speed  
Q3 Results  
Transfer of compact and mid size  
transmissions activities to Magna  
Partnership with Luminar to enhance  
pioneering work in next-generation  
automated driving systems  
MB Strategy Update: ‘electric drive’  
Acquisition of British electric  
motors specialist YASA Ltd.  
New transformation milestone at  
the Berlin plant (assembly of YASA  
axial-flux electric motors)  
2
021  
2022  
Q1  
Q3  
Q4  
Sep 24  
Oct 29  
Nov 18  
Nov 30  
July 22  
Jan 20 Jan 27  
Technology partnership with  
solid state battery specialist  
Factorial Energy  
MB Update on Battery Strategy  
Acquisition of 33%-equity  
stake in battery cell JV ACC  
Partnership with ProLogium to develop  
next-generation solid-state battery cells  
for electric vehicles  
Roadshow Presentation FY 2021  
55  
Daimler Internal  
Our financial ambitions for MB AG 2025  
On track towards double digit RoS despite supply constraints  
Market environment/revenues  
Roadshow Presentation FY 2021  
56  
Daimler Internal  
BBAC (Beijing Benz Automotive Cooperation) Joint Venture  
BBAC is based on a trustful partnership with our long-term partner BAIC  
BBAC is the largest Mercedes-Benz production facility in the world with  
local R&D for passenger cars.  
Product ranges from Compact, Midsize, and Large-mid Segment (E-Class)  
as well as PHEVs and fully electric vehicles such as EQA, EQB and EQC.  
Local production of EQE will start 2022.  
2
019  
67  
20,177  
,702  
2020  
611  
2021*  
561  
Sales Volume  
in thousand units)  
5
(
Engines as well as batteries are also produced locally  
Revenue  
21,774  
2,900  
21,288  
3,205  
The production is strongly integrated in the worldwide Mercedes-Benz  
network with a highly flexible production set up and shift models  
throughout the locations BBAC-Yishuang (BDA) and BBAC-Shunyi.  
BBAC-Shunyi is the new local production facility as of 2018 and part of the  
jointly invested expansion program of above 11.9 Bn RMB.  
Both partner (BAIC and Mercedes-Benz) sharing the investments for new  
products.  
Profit from continuing  
operations after taxes  
2
BBAC Equity Result MB  
1,295  
1,137  
1,335  
1,718  
1,553  
1,523  
BBAC Dividend MB  
*Preliminary and unaudited  
CEO and CFO are appointed by Mercedes-Benz.  
MB contribution by locally produced cars are generated via (i) supplies, (ii)  
royalties, and (iii) at equity results (see right chart).  
Roadshow Presentation FY 2021  
57  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
58  
Daimler Internal  
Mercedes-Benz Vans Strategy  
Our Goal: We exceed customers’ expectations with the most desirable vans and services  
Lead  
Target Focus  
Embrace Lower  
in electric  
drive and digital  
solutions  
premium  
segments  
on  
profitable  
growth  
customers and  
grow recurrent  
revenues  
total  
cost base  
Guided by economic, environmental and social sustainability  
Accelerated by digitalization and data-driven business  
Driven by a highly qualified, performance-minded and motivated team  
Roadshow Presentation FY 2021  
59  
Daimler Internal  
Mercedes-Benz Vans Ambition 2039  
The ambition of Mercedes-Benz Vans is to make our fleet of new private and commercial Vans  
1
CO-neutral over the entire lifecycle by 2039.  
PRODUCTION  
Cradle-to-gate  
USE PHASE  
END OF LIFE  
Recycling  
Well-to-wheel  
Supply chain/ In- & outbound Mercedes-Benz  
Fuel  
production  
Electricity  
production  
Vehicle  
emissions  
raw materials  
logistic  
production  
1
This includes vehicles that are sold by Mercedes-Benz AG or that are sold by Mercedes-Benz AG as general contractor, including upfitter solutions.  
Roadshow Presentation FY 2021  
60  
Daimler Internal  
Mercedes-Benz Vans SUSTAINEER  
Solar Panel  
Digital  
Interior Mirror  
Daylight+  
Sustainable  
Materials  
Heated  
Seat Belt  
Innovative  
Breaks  
Optimized  
Tires  
Vegan Heated  
Steering Wheel  
Front Module Filter  
(fine particulate air  
filter)  
Electric  
Drive  
Sidewalk  
Monitor  
Underbody Filter (fine  
particulate air filter)  
Speed  
Delivery Door  
Mirror  
Cams  
Roadshow Presentation FY 2021  
61  
Daimler Internal  
Strategy priority: Electrifying MB Vans  
Mercedes-Benz Vans is fully committed and dedicated to electrification  
Holistic Approach: From small over mid-size to large, we electrify every van segment  
eCitan  
VAN.EA  
eVito  
eSprinter  
EQV  
Next Generation  
Electrified T-Class  
1st generation EV  
3rd generation EV  
Roadshow Presentation FY 2021  
62  
Daimler Internal  
Th
An intelligent, modular solution with three core elements  
Front module for  
high-voltage  
Rear module with  
electrically driven rear axle  
components  
Choice of  
2 wheel bases  
3 battery capacity levels  
Large | Medium | Small  
Underfloor module for  
high-voltage battery  
Roadshow Presentation FY 2021  
63  
AGENDA  
I. RESULTS FY 2021  
II. OUTLOOK FY 2022  
III. STRATEGY  
1
2
3
. MERCEDES-BENZ CARS  
. MERCEDES-BENZ VANS  
. MERCEDES-BENZ MOBILITY  
Roadshow Presentation FY 2021  
64  
Daimler Mobility Strategy  
Roadshow Presentation FY 2021  
65  
Mercedes-Benz Mobility Role & Contribution  
As an integral part of Mercedes-Benz, we  
secure the company’s position as a global  
leader by leveraging customer data and  
insights generated through our numerous  
touchpoints with our clients. We retain them  
in the Mercedes-Benz ecosystem and offer  
services that are in great demand to create  
additional income and to drive recurring  
revenues.  
Roadshow Presentation FY 2021  
66  
Daimler Internal  
Mercedes-Benz Mobility Product Range  
SERVICES  
CREDIT  
LEASING  
FLEET  
SUBSCRIPTION  
RENT  
INSURANCE  
CHARGING, PAYMENT, ETC.  
As integral part of the Mercedes-Benz customer journey  
Roadshow Presentation FY 2021  
67  
Daimler Internal  
Disclaimer  
This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,”  
assume,” “believe,” “estimate,” “expect,” “intend,” “may,” ”can,” “could,” “plan,” “project,” “should” and similar expressions are  
used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse  
development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of  
our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics,  
acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or  
financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer  
preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our  
ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of  
production due to shortages of materials, labour strikes or supplier insolvencies; a decline in resale prices of used vehicles; the  
effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which  
we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws,  
regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of  
pending governmental investigations or of investigations requested by governments and the outcome of pending or threatened  
future legal proceedings; and other risks and uncertainties, some of which are described under the heading “Risk and Opportunity  
Report” in the current Annual Report or in the current Interim Report. If any of these risks and uncertainties materializes or if the  
assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially  
different from those we express or imply by such statements. We do not intend or assume any obligation to update these  
forward-looking statements since they are based solely on the circumstances at the date of publication.  
Roadshow Presentation FY 2021  
68  


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