Gentex : Investor Overview

GROWTH OVER MARKET

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SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "future," "goal," "guidance," "hope," "intend," "may," "opinion," "optimistic," "plan," "poised," "predict," "project," "should," "strategy," "target," "will," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described.

These risks and uncertainties include, without limitation: changes in general industry or regional market conditions; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation including securities litigation relating to the conduct of our business; the length and severity of the COVID-19 (coronavirus) pandemic, including its impact across our business on demand, operations, and the global supply chain, and the Occupational Safety and Health Administration's (OSHA) Emergency Temporary Standard (ETS) (vaccine mandate) that would require employees to be either vaccinated or tested weekly if the employee is unvaccinated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties identified under the heading "Risk Factors" in the Company's latest Form 10-K and Form 10-Q filed with the SEC, which risks and uncertainties now include the impacts of COVID-19 (coronavirus) pandemic and supply chain constraints that have affected, and will continue to affect, general economic and industry conditions, customers, suppliers, and the regulatory environment in which the Company operates.

Includes content supplied by S&P Global Mobility Light Vehicle Production Forecast as of January 16, 2024 (gentex.com/forecast-disclaimer).

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2023 PERFORMANCE

$2.3B	$266.9M	$183.7M
Revenue	Operating Expenses	Capital Expenditures
33.2%	(E, R&D and S, G&A)	$93.6M
15.2%
Gross Margin	Depreciation &
Performance	Annual Tax Rate	Amortization

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	$2.45 - 2.55B	16 - 18%
	Revenue	Annual Tax Rate
2024	34 - 35%	$225 - 250M
GUIDANCE	Gross Margin	Capital Expenditures
$295 - 305M	$95 - 105M
Updated January 26, 2024
	Operating Expenses	Depreciation
	(E, R&D and S, G&A)	& Amortization

2025 GUIDANCE	$2.65 - $2.75B Revenue
Updated January 26, 2024

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BUSINESS ENVIRONMENT IN FLUX

• Today's business environment:

－Light vehicle production declines －Chip shortage

－Supply chain issues －Record inflation －Labor shortage

• Gentex is systematically tackling each of these issues through creative ideas
• Content growth through new features is the only natural offset for lower light vehicle production

Global Light Vehicle Volumes

Component +	Component +
Labor Shortages	Labor Shortages

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GROWTH THROUGH FEATURES AND VEHICLE CONTENT

Global LVP

2017 95M Vehicles $1.79B Revenue

2023 89.8M Vehicles $2.3B Revenue

2024

89.4M Vehicles $2.45-2.55B Revenue

Revenues

100,000,000		$3,000,000,000

90,000,000

$2,500,000,000

80,000,000

70,000,000

$2,000,000,000

60,000,000

50,000,000		$1,500,000,000

40,000,000

$1,000,000,000

30,000,000

20,000,000

$500,000,000

10,000,000

-																								$0
2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
										Light Vehicle Production	Revenue

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IEC AND OEC - DEVELOPING OUR MARKET

• IEC - Interior Electrochromic Mirrors - 31.8M units in 2023
• OEC - Outside Electrochromic Mirrors - 18.8M units in 2023

Mirror Volume

35,000,000

30,000,000

25,000,000

20,000,000

15,000,000

10,000,000

5,000,000

-

1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

IEC OEC

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MARKETSHARE OVER TIME

• GNTX has maintained a consistent market share in the automotive market while continuing to grow the total number of electrochromic mirrors
• • Quality and reliability
  • Product portfolio - advanced features help "pull" EC onto new vehicles
  • Profitability for our customers, preference from consumers
  • Scale and pricing
• Gentex continues to pick our new customers in emerging markets carefully, while expanding technology adoption at existing customers

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

Market share % of EC Mirror Market

0%

1995

1996

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2002

2003

2004

2005

2006

2007

2008

2009

2010

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2023

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FDM GAINS

• Shipping on 15 OEMs and more than 100 nameplates
• Growth in premium vehicles,
  mass market vehicles, and work vans
• Targeting +500k unit growth in 2024
• GNTX is positioned well for continued opportunities in new vehicles and to help OEMs develop new display strategies

FDM Volume

3000000

2500000

2000000

1500000

1000000

500000

0

2015

2016

2017

2018

2019

2020

2021

2022

2023

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CAPITAL ALLOCATION STRATEGY

• Utilizing Free Cash Flow

－Capital Expenditures

• $225-250M/year

－Dividends - $.48 per share annually

• $112M per year
• Dividend policy will remain at this level until we achieve record Net Income levels

－M&A

• Currently focused on new Tech based on valuation models and better returns

－Share Repurchases

• Approximately 15.9M shares available for repurchase under current plan (Dec 31, 2023)

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