MAHLE Metal Leve S A : Dados Econômico-Financeiros

MAHLE Metal Leve S.A.

Quarterly information (ITR)

on September 30, 2022

Mogi Guaçu, São Paulo, November 11, 2022 - MAHLE Metal Leve S.A. (B3: LEVE3), a Brazilian automotive parts supplier of internal combustion engine components and filtration systems for the automotive industry, today announced its financial results for the third quarter of 2022 (3Q22). Unless otherwise noted, the financial and operating information included in this release is provided on a consolidated basis and in Brazilian real (BRL), and was prepared in accordance with the Brazilian Corporation Law.

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Third Quarter 2022

Financial Results Video

Conference Call

Date: November 16, 2022

Time

12 noon - Brasília 3:00 p.m. - London 10:00 a.m. - New York

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FINANCIAL HIGHLIGHTS

Net Sales Revenue: R$ 1,198.8 million in 3Q22, which represents an increase of 26.3% compared with the third quarter of 2021 (3Q21). Net sales revenue for the first nine months of 2022 (9M22) was 16.3% higher than in the first nine months of 2021 (9M21).

Company's performance by market:	3Q22 x 3Q21	9M22 x 9M21
Aftermarket - Domestic Market	47.3%	31.6%
Original Equipment - Domestic Market	28.2%	22.3%
Original Equipment - Export Market	12.2%	1.1%

• Portuguese (original audio), or
• simultaneous translation into English.

MAHLE's Investor Relations website: https://ri.mahle.com.br

Aftermarket - Export Market	7.0%	18.5%
Total change in revenue:	26.3%	16.3%

Further details of changes are provided in items 4.1, 4.2and 4.3below.

GPTW Ranking: In September 2022, the Company was named by GPTW Brazil as one of the 100 Best Companies to Work for in the state of São Paulo.

Key Indicators

	(in millions of R$)			3Q22		2Q22		3Q21		(a/b)		(a/c)			9M22		9M21		(d/e)
			(a)		(b)		(c)					(d)		(e)
	Net sales revenue			1,198.8		1,019.4		949.5		17.6%		26.3%			3,108.2		2,673.6		16.3%
	EBITDA			285.0		181.5		196.4		57.0%		45.1%			645.0		658.5		-2.1%
	Adjusted EBITDA ¹			283.0		181.5		185.9		55.9%		52.3%			643.0		559.2		15.0%
	EBITDA margin			23.8%		17.8%		20.7%		6 p.p.		3.1 p.p.			20.8%		24.6%		-3.8 p.p.
	Adjusted EBITDA margin ¹			23.6%		17.8%		19.6%		5.8 p.p.		4 p.p.			20.7%		20.9%		-0.2 p.p.
	Net profit			204.3		114.9		139.9		77.8%		46.0%			442.2		436.1		1.4%
	Adjusted net profit ²			201.8		114.9		132.4		75.6%		52.4%			439.7		364.8		20.5%
	Net margin			17.0%		11.3%		14.7%		5.7 p.p.		2.3 p.p.			14.2%		16.3%		-2.1 p.p.
	Adjusted net margin ²			16.8%		11.3%		13.9%		5.5 p.p.		2.9 p.p.			14.1%		13.6%		0.5 p.p.

• Adjusted EBITDA: Details of the adjustments are provided in items 4.9and 4.10in this document. ² Adjusted net profit: Details of the adjustments are provided in item 4.13in this document.
  Net profit and net margin shown in the above table refers to "Profit attributable to owners of the Company" in item 4in this document.

MAHLE Metal Leve S.A. | Third Quarter 2022 Financial Results Release

CONTENTS

1. Management Commentary

2. About MAHLE Metal Leve Page | 2

3. Development of the Automotive Industry

1. Development of the Brazilian and Argentine markets
2. Vehicle production in the major export markets

4. Company's Financial and Economic Performance

4.1 Net sales revenue and net revenue by market

4.2 Sales in the Original Equipment (OE) market

4.3 Sales in the Aftermarket

4.4 Consolidated export by region

4.5 Net revenue by segment and by product

4.6 Gross margin

4.7 Selling, general and administrative expenses

4.8 Research and development (R&D) expenses

4.9 Other operating income (expenses), net

4.10 Operating result measured by EBITDA

4.11 Net finance income (costs)

4.12 Income tax and social contribution

4.13 Net profit and adjusted net profit

4.14 Capital expenditures

4.15 Net cash (debt)

4.16 Distribution of dividends and interest on capital to shareholders

5. Investor Relations and Capital Market

5.1 Stock performance and free float

5.2 Shareholder structure

6. Independent Auditors

7. Executive Board's Declaration

8. Acknowledgements

MAHLE Metal Leve S.A. | Third Quarter 2022 Financial Results Release

1.Management Commentary

The close of the third quarter of 2022 was another important step towards the recovery of the automotive industry in Brazil after a sluggish first quarter because of electronic components shortage; some improvement began in the second quarter.

According to the Brazilian Association of Automotive Vehicle Manufacturers (ANFAVEA), vehicle production in the third quarter of 2022 was up 11.6% and vehicle sales rose 14.3% compared with the prior quarter. Anfavea's monthly analysis Page | 3 showed that the September figures were lower than the record high levels set in August, mainly because of two fewer working days. A highlight is the continued improvement in average daily sales since January, reaching 9.2 thousand new

car registrations per business day, the strongest result in the year. Year-to-date auto production from January to September increased by 6.3%, exports rose 31.2%, while new car registrations declined by 4.7%. The truck segment remained at roughly the same level as 2021 when it saw growth driven by demand from agribusiness and delivery market.

The global market still faces challenges as there is the possibility of new lockdowns in major Chinese cities due to COVID- 19, with supply chains (especially semiconductors) facing more disruption risk; the Russia-Ukraine war has affected commodity prices and the global logistics market; global inflation; and slowing global GDP growth.

The Company seeks to achieve a balance between the Original Equipment and Aftermarket segments in both domestic and export markets, so as to offset oscillations across the segments and stabilize its profit margin over time.

The Company's 3Q22 net revenue increased 26.3%	The chart below shows the Company's revenue by
compared with the same period in 2021, driven by an	business segment in 9M22 and 9M21:
increase in sales in the Aftermarket (+37.4%), domestic OE
market (+28.2%), and export OE market (+12.2%). Net
revenue for the first nine months of 2022 increased 16.3%
compared with the first nine months of 2021, driven by an
increase in sales in the Aftermarket (+28.7%), domestic OE
market (+22.3%), partially offset by a decline in the export
OE market (-1.1%).

Adjusted EBITDA margin in 3Q22 was 23.6% (R$ 283.0 million) versus 19.6% (R$ 185.9 million with adjustment) in 3Q21. Adjusted EBITDA margin in 9M22 was 20.7% (R$ 643.0 million) versus 20.9% (R$ 559.2 million with adjustment) in 9M21. More information about changes in EBITDA and adjusted EBITDA for 2021 is provided in item 4.10below.

The Company continues to monitor the global COVID-19 situation and maintains a crisis committee to monitor the evolving situation at all its plants to mitigate the risk of contamination of employees and service providers. The Company continues to allow employees who can work remotely (for example, administrative staff) to work from home on a full time or hybrid basis.

MAHLE Metal Leve was named by ¹GPTW Brazil as one of the 100 Best Companies to Work for in the state of São Paulo. In its first year of entering the process, MAHLE Metal Leve S.A. (and MAHLE Group Brazil) earned this certification based on a survey of employee satisfaction and an analysis of organizational culture that reflects strategic values such as leadership, innovation, trust and development of people inside an organization. We celebrate this award as a tribute to our employees who make Mahle a great place to work.

• Great Place To Work (GPTW) is a global consulting firm that recognizes the Best Workplaces in 109 countries around the world, based on an organizational climate survey where employees provide feedback on their workplace, leadership, relationships and company culture.

MAHLE Metal Leve S.A. | Third Quarter 2022 Financial Results Release

2.About MAHLE Metal Leve

We are a Brazilian automotive parts company that manufactures and sells components for internal combustion engines and automotive filters. We manufacture the highest quality products using cutting-edge technology, and we are constantly investing in research and development of new products and production processes.

We have been operating in Brazil since the 1950's and have a large portfolio of products and integrated solutions, including Page | 4 customized products developed in close collaboration with our principal customers. In the original equipment industry, MAHLE supplies automotive manufacturers and the Aftermarket business segment supplies large auto parts distributors

and engine repair shops.

Our products are manufactured and sold in Brazil and Argentina and exported to more than 60 countries, including USA, Germany, Mexico, Portugal and Spain, to a large customer base that includes General Motors, Volkswagen, Fiat, Ford, Daimler MBB, Opel, International, Cummins, Volvo, PSA Peugeot, John Deere, Renault, Scania, Caterpillar, Honda, Hyundai, Toyota, among others.

We own five production plants, four of which are located in Brazil, in the cities of Mogi Guaçu (two units) and São Bernardo do Campo, in the State of São Paulo, and in Itajubá, State of Minas Gerais. Our fifth plant is located in the city of Rafaela, Argentina. We have two distribution centers: one in the city of Limeira, State of São Paulo, and one in Buenos Aires, Argentina. We have a technology center in the city of Jundiaí, State of São Paulo, which we believe is one of the largest and most well-equipped technology centers in Latin America for the development of components and solution packages for internal combustion engines. This center allows us to serve and deliver value to our customers in a customized and efficient manner, and develop innovative new product technologies and processes.

As part of the globally active MAHLE Group, we are able to exchange knowledge, provide and have constant access to the latest technologies and develop products in close collaboration with customers, which we believe are key factors to the high level of market penetration and customer loyalty that we have achieved.

3.Development of the Automotive Industry

3.1 Development of the Brazilian and Argentine markets

MAHLE Metal Leve S.A. | Third Quarter 2022 Financial Results Release