Rheinmetall : H1/2022, Telefonkonferenz

05/08/2022

Conference Call Q2 2022

Disclaimer

This presentation contains "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995 with respect to Rheinmetall's financial condition, results of operations and businesses and certain of Rheinmetall's plans and objectives. These forward-looking statements reflect the current views of Rheinmetall's management with respect to future events.

In particular, such forward-looking statements include the financial guidance contained in the outlook.

Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as "will", "anticipates", "aims", "could", "may", "should",

"expects", "believes", "intends", "plans" or "targets". By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. In particular, such factors may have a material adverse effect on the costs and revenue development of Rheinmetall. Further, the economic downturn in Rheinmetall's markets, and changes in interest and currency exchange rates, may also have an impact on Rheinmetall's business development and the availability of financing on favorable conditions. The factors that could affect Rheinmetall's future financial results are discussed more fully in Rheinmetall's most recent annual and quarterly reports which can be found on its website at www.rheinmetall.com.

All written or oral forward-looking statements attributable to Rheinmetall or any group company of Rheinmetall or any persons acting on their behalf contained in or made in connection with this presentation are expressly qualified in their entirety by factors of the kind referred to above. No assurances can be given that the forward-looking statements in this presentation will be realized. Except as otherwise stated herein and as may be required to comply with applicable law and regulations, Rheinmetall does not intend to update these forward-looking statements and does not undertake any obligation to do so.

This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in Rheinmetall AG or any of its direct or indirect subsidiaries.

Rheinmetall AG and its affiliates are neither associated with nor provide any support to American Depository Receipts programs (ADR) or comparable offerings or investment schemes related to shares in Rheinmetall AG in the United States of America or any other jurisdiction. Therefore, neither Rheinmetall AG nor any of its affiliates has and or will accept any responsibility or liability whatsoever in relation to such ADR programs or comparable investment schemes.

Please note that all figures in this presentation have been rounded on a standalone basis. This can result in minor differences when adding figures together or calculating % shares.

© Rheinmetall AG I August, 5 2022

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Conference Call Q2 2022

Q2 2022 Group Highlights

Second quarter in line with expectations

• Group sales growth of 7.1% to 1.408 €m
• Operating profit rose by 7€m to 114€m
• Stable operating margin of 8.1%
• 1.427€m Rheinmetall order intake* including strong growth of the civil business of 34%
• OFCF marked by working capital build up
• Very successful "Eurosatory" participation
• Full-yearguidance 2022 refined

© Rheinmetall AG I August, 5 2022

*Due to differing contractual conditions and dependencies on external indices (e.g. production figures) in the nominations, the Rheinmetall order intake	3
indicator only shows an order intake size determined as of the reporting date, but not a fixed order intake.

Conference Call Q2 2022

Q2 2022 Group Highlights

Presentation of Panther KF51 at Eurosatory - A new tank for a new era

Highly effective weapon	Excellent protection	Fully digitized
130 mm Future Gun System developed	Integrated survival concept with 360	First main battle tank based on a fully digital
by Rheinmetall and the optimized sensor-	degrees active, reactive and passive	architecture. Connectivity tank to tank for
shooter network	protection technologies. Side and top	battle management system
	attack protection

© Rheinmetall AG I August, 5 2022

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Conference Call Q2 2022

Market update

Rheinmetall in the "sweet spot" of market growth within NATO

Shifts in the defence budget '21 / '30 (∅ EU27)

1,6%  2,2%

Defence budget share of GDP (∅ EU27)1

20%  30%

Investment share of defence budget2

25%  ~30%

Share of land systems in investment volume2

Rheinmetall positioned in the "sweet Spot" of growth

Defence market growth CAGR 2021-2030 by segment

Sea		Air		Land

Germany		~15%	~15%	>20%
Core markets Rh	~10%	~10%	~10%
(IT, HUN, UK, AUS)
Rest of Europe	~10%	~10%	~10%
Rest of NATO	2-5%	2-5%	2-5%

Source: 1) Publications of the individual governments, u.a. Source: Goldman Sachs,Portugal: PM Costa will increase defence spending to 1.89% of GDP with EU help | Macau Business

Hungary increases defence allocation (janes.com),Slovenia to boost defence spending to 2%/GDP by 2030 - minister (seenews.com),Slovakia's Defense Minister Says Military Spending at 2% Should Be Base, Not Target > U.S. Department of Defense > Defense Department News,Ireland's defence spending set to rise by at least 50%, says Coveney - The Irish Times,Croatia Met NATO Defence Budget Target In 2021(total-croatia-news.com).2) Janes

© Rheinmetall AG I August, 5 2022

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