#1Willkommen | Welcome Annual Results Conference 2022 Mercedes-Benz Group AG Stuttgart, February 17, 2023#2Recap: Our strategic priorities for 2022 Scale electric vehicles Accelerate car software Grow luxury business Alleviate supply constraints VISION EQXX Mercedes-Benz Focus relentlessly on costs 2#3Mercedes-Benz Group: Key figures* Revenue in billion euros +12% 150.0 133.9 EBIT in billion euros EBIT adj. in billion euros 16.0 +28% 20.5 17.2 +20% 20.7 2021 2022 2021 2022 2021 2022 Free Cash Flow (IB) in billion euros Net Industrial Liquidity in billion euros +27% +3% 21.0 8.1 7.9 2021 2022 * 2021 figures continuing operations only; all figures preliminary and unaudited 26.6 2021 2022 3#4Mercedes-Benz Cars: Key messages Performance: Resilience in challenging environment, vigilance towards macroeconomics & geopolitics Profitability: Improvement of revenue quality, cost efficiency & pricing power compensating inflation Products: world premiere of GLC, EQS SUV & EQE SUV .S.EQ 2962E Technology: EQXX with new efficiency record, L3 system available in S-Class & EQS Transformation: Global production and powertrain network realigned towards electric vehicles 4#5Mercedes-Benz Cars: Top-End and electric vehicle unit sales In thousand units +5% 2,041 1,944 +8% 328 Top-End 305 +23% 333 328* 305* LB MA 6002 39 G 272 41 23 Maybach 17 149 BEV Core 1,029 1,117 90 138 AMG 135 S EQS 182 184 PHEV 177 Entry ** 610 153 GLS 596 EQS SUV 2021 2022 2021 2022 2021 Total MBC Top-End Share in % of volume 16% 16% 14% 2022 Electric vehicles 16% w/o double counting (e.g. G63, S-Class, Maybach) ** incl. smart 5#6Mercedes-Benz Vans: Key messages Performance: Global sales significantly increased despite geopolitical challenges & supply constraints Profitability: Solid margin reflects healthy mix & pricing Products: Sales start of new T-Class & world premiere of all-electric EQT Transformation: Reorganization of global production network for electric vans decided Strategy: Focus on lead in electrification sharpened 6#7Mercedes-Benz Vans: Electric vehicle unit sales In thousand units 386 +8% 415 2021 2022 Total MB Vans thereof 14 +9% 15 2021 2022 Battery electric vehicles Share in % of volume 4% 4% 7#8Mercedes-Benz Group: Cars and Private Vans Internal data confirms CO, compliance 2022 in Europe* 115g 115g Actuals 2021** Prognosis 2022*** Regulatory Target ~127g Average CO2 emissions of the total fleet of newly registered Mercedes-Benz cars in Europe (European Union, Norway and Iceland) in the reporting year as measured on the basis of the WLTP, i.e. including vans that are registered as passenger cars. Based on provisional European Environment Agency data (incl. Eco-Innovation) ***Based on internal Data (incl. Eco-Innovation) 8#9Mercedes-Benz Cars: Financials Sales in million units 1.94 Revenue in billion euros EBIT adj. in billion euros CFBIT adj. in billion euros +5% 2.04 +15% 111.6 +28% 96.7 12.7 16.2 10.7 +7% 11.4 Mercedes-Benz 2021 2022 2021 2022 2021 2022 2021 2022 * ASP in thousand euros excl. Smart, BBAC sales and pbp revenues 9#10Mercedes-Benz Cars: FY EBIT & ROS In million euros 12,487 202 12,689 ROS: 12.9% Restructuring -436 Legal proceedings -274 M&A Transactions +508 Gross Profit +3,938 8,318 368 a 2 1 216 16,245 95 16,340 -4,748 -274 -54 -271 Strongly improved net pricing Favourable product mix ROS: 13.1% Slightly increased unit sales Discounting of non-current provisions Higher raw material prices and one-time commodity charges Higher inflation and supply chain related costs Higher investments in future technologies and vehicles ROS: 14.6% • Russia -658 Legal proceedings -110 M&A transactions +863 ROS: 14.6% EBIT Adjustments 2021 EBIT adjusted 2021 Volume / structure / Net pricing Foreign exchange rates Industrial performance Selling expenses General administrative expenses Research & non-capitalized development costs Others EBIT adjusted 2022 Adjustments EBIT 2022 10#11Mercedes-Benz Cars: Indicators of Change Average Sales Price* in thousand euros 51.0 +43% +9% 72.9 67.1 Active Workforce in thousand FTE** Fixed Costs in billion euros R&D in billion euros +7% -5% 139.2 -13% 7.5 8.0 132.4 2019 2021 2022 2019 2022 2019 2022 2019 Investment in pp&e in billion euros 5.6 -42% 3.3 2022 2019 2022 *ASP excl. smart, BBAC sales and pbp revenues **FTE Full time equivalent 11#12Mercedes-Benz Cars: EBIT to CFBIT In million euros 16,340 16,340 -2,936 t/o • New vehicle stock - 3,758 Unfinished products + 427 208 5,943 -6,715 Net investments EBIT Change in working 2022 capital Net financial investments in pp&e and intangible assets Depreciation and amortization/ impairments t/o -2,122 • BBAC Dividend + 1,431 ⚫ Result at-Equity BBAC -1,711 • Retail outlet sale 478 • MB Grand Prix 358 695 11,413 10,718 CCR: 0.7 ⚫ Legal proceedings + 549 Restructuring + 321 • M&A transactions - 175 CCR: 0.7 Other CFBIT 2022 Adjustments CFBIT adjusted 2022 12#13Mercedes-Benz Vans: Financials Sales in thousand units 386.2 +8% Revenue in billion euros 415.3 +17% 14.7 EBIT adj. in billion euros CFBIT adj. in billion euros 17.2 +57% 1.9 1.2 1.6 +29% 2.0 2021 2022 2021 2022 2021 2022 2021 2022 13#14Mercedes-Benz Vans: FY EBIT & ROS In million euros 86 1,229 1,143 ROS: 7.8% 1,565 Gross Profit +618 33 153 1,927 1,897 23 -980 -30 -77 -20 ROS: 8.3% +27 Strongly improved net pricing Significantly increased unit sales Favourable product mix Higher raw material prices and one-time commodity charges Higher inflation and supply chain related costs Restructuring Legal proceedings + 59 ROS: 11.2% Russia - 51 Legal proceedings - 15 M&A transactions +36 ROS: 11.0% EBIT Adjustments 2021 EBIT adjusted 2021 Volume/ structure / Net pricing Foreign exchange rates Industrial performance Selling expenses General administrative expenses Research & non-capitalized development costs Others EBIT adjusted 2022 Adjustments EBIT 2022 14#15Mercedes-Benz Vans: EBIT to CFBIT In million euros 1,897 -167 54 t/o • New vehicle stock - 170 -364 452 Net investments EBIT Change in working Net financial 2022 capital investments in pp&e and intangible assets Depreciation and amortization/ impairments -141 1,731 t/o ⚫ FBAC 122 Other CCR: 0.9 CFBIT 2022 SMB4133 309 2,040 Legal proceedings + 335 Restructuring +17 • M&A transactions - 43 Adjustments CCR: 1.1 CFBIT adjusted 2022 15#16Mercedes-Benz Mobility: Key messages Performance: High portfolio quality results in low credit losses despite challenging environment Profitability: Solid margins despite headwinds from higher interest rates and increase in cost of credit risk Fleet Management: Improved business performance Strategy: Strong partner to Mercedes-Benz Cars and Vans supporting electrification strategy Transformation: Truck Spin-off project successfully completed 16#17Mercedes-Benz Mobility: Financials New Business in billion euros Contract Volume in billion euros EBIT adj. in billion euros 63.6 -9% 133.7 58.0 -1% 132.4 3.4 -30% 2.4 2021 2022 2021 2022 2021 2022 71 17#18Mercedes-Benz Mobility: FY EBIT & ROE In million euros 3,493 165 3,449 -44 RoE: 22.3% RoE: 22.0% Restructuring +45 • VIA - 89 -448 -832 Favourable FX development 138 2,428 2,428 -36 Improved business performance at fleet management Lower volume due to Daimler Truck spin-off and lower penetration Increase in cost of credit risk reflecting weaker macroeconomic outlook Interest margin with headwinds from increasing interest rates RoE: 16.8% RoE: 16.8% EBIT 2021 Adjustments EBIT adjusted 2021 Foreign exchange rates Cost of risk* Volume/ Margin* Selling expenses* General administrative expenses* Other* EBIT adjusted 2022 Adjustments EBIT 2022 * excluding FX effects 18#19Mercedes-Benz Group: Group EBIT In million euros SG 3537 698 3,556 264 20,655 20,458 -1,021 -197 1,130 17,158 16,028 ⚫ Legal proceedings + 334 . Restructuring + 549 • M&A transactions +247 t/o At-equity Daimler Truck +227 • Legal proceedings - 119 • M&A transactions • Russia +631 - 709 EBIT Adjustments EBIT adjusted 2021 Mercedes-Benz Cars Mercedes-Benz Vans Mercedes-Benz Mobility Reconciliation 2021 EBIT adjusted 2022 EBIT Adjustments 2022 19#20Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow* In million euros ww 10,718 1,731 1,166 9,294 320 8,128 -4,137 -255 -249 Mercedes-Benz Cars Mercedes-Benz Vans Income taxes Interest received paid* Effects from Pensions Other reconciling item Free cash flow (industrial business) • Legal proceedings Restructuring + 878 +374 • M&A transactions Adjustments 86 Free cash flow (industrial business) adjusted * includes internal tax prepayments from Mercedes-Benz Mobility to the industrial business 20 0#21Mercedes-Benz Group: Net Industrial Liquidity* In billion euros AFFALTERBACH 21.0 Net Industrial Liquidity 12/31/2021 11.4 -3.2 6.4 0.3 -6.8 Free cash flow industrial business FY 2022: € 8.1 billion Earnings and other cash flow impact Working capital impact Depreciation and amortizations/ impairments Additions to property, plant, equipment and intangible assets -5.3 AMG 2.9 26.6 Investments in and disposals of shareholdings Dividend payment Other* MBG * Mainly exchange rate effects, dividends from MBM and capital decreases at MBM Net Industrial Liquidity 12/31/2022 21#22Mercedes-Benz Group: Dividend Net profit in billion euros Earnings per share in euros Dividend proposed in euros 14.2* +4% 14.8 12.89* +5% 13.55 5.0 € 0.7 DT&B +4% 4.3 5.2 2021 2022 2021 2022 2021 2022 * 2021 figures excl. deconsolidation result 22 22#23Mercedes-Benz Group: Share buyback Strategic course set Excess cash generation after addressing strategic priorities Honouring dividend policy Optimizing capital structure post spin-off up to € 4 Billion 2 years starting max. March 2023 Buybacks funded by MBG's prevailing strong free cash flows and compatible with our strategic investment priorities 23 23#24EQ Outlook 2023 24 24#25Mercedes-Benz Divisional Guidance 2023 ASSUMPTION The global economic conditions continue to be characterized by an exceptional degree of uncertainty. In addition to unexpected macroeconomic developments, uncertainties for the global economy and the business development of the Mercedes-Benz Group may arise in particular from geopolitical events and trade policy. Besides Russia's war in Ukraine, examples of this include a further exacerbation of tensions between the United States and China and a further deterioration of political relations between the European Union and China. In addition, as in the previous year, the further course of the Covid-19 pandemic, particularly in China, may lead to disruptions in global supply chains. Other availability bottlenecks, in particular those affecting semiconductors, remain a large source of uncertainty. Volatile energy and commodity prices, persistently high or repeatedly rising inflation rates, sharply rising interest rates and an even more pronounced slowdown in economic growth may also have an impact on the risks and opportunities described in the individual categories. Unit Sales Mercedes-Benz Cars Mercedes-Benz Vans Mercedes-Benz Cars Return on Sales (adjusted*) Mercedes-Benz Vans Mercedes-Benz Mobility (ROE) At prior-year level At prior-year level 12 to 14% 9 to 11 % 12 to 14% Mercedes-Benz Cars Cash Conversion Rate** (adjusted) Mercedes-Benz Vans Mercedes-Benz Cars Investment in pp&e Mercedes-Benz Vans Mercedes-Benz Cars R&D expenditure Mercedes-Benz Vans 0.8 to 1.0 0.5 to 0.7 Significantly above Significantly above Slightly above Significantly above LB EQ542E 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. Adjusted Cash Flow before Interest and Taxes (CFBIT) divided by adjusted EBIT. 25 25#26Mercedes-Benz Group Guidance 2023 ASSUMPTION The global economic conditions continue to be characterized by an exceptional degree of uncertainty. In addition to unexpected macroeconomic developments, uncertainties for the global economy and the business development of the Mercedes-Benz Group may arise in particular from geopolitical events and trade policy. Besides Russia's war in Ukraine, examples of this include a further exacerbation of tensions between the United States and China and a further deterioration of political relations between the European Union and China. In addition, as in the previous year, the further course of the Covid-19 pandemic, particularly in China, may lead to disruptions in global supply chains. Other availability bottlenecks, in particular those affecting semiconductors, remain a large source of uncertainty. Volatile energy and commodity prices, persistently high or repeatedly rising inflation rates, sharply rising interest rates and an even more pronounced slowdown in economic growth may also have an impact on the risks and opportunities described in the individual categories. Revenue EBIT At prior-year level Slightly below Free Cash Flow (Industrial Business) At prior-year level CO2 emission (g/km)* Significantly below Average CO2 emissions of the total fleet of newly registered Mercedes-Benz cars in Europe (European Union, Norway and Iceland) in the reporting year as measured on the basis of the WLTP, i.e. including vans that are registered as passenger cars. 26 6#27Strategic priorities for this year Safeguard our operating optimum 5 Continue scaling BEVS Future-proof supply chains Further upgrade customer experience Maintain cost discipline 27 7#28VISION AMG Appendix AMG AMS AMB AMG SEX 400 MENE SETAY 28#29Mercedes-Benz Group/Divisional Guidance Ranges Specification/ KPI Revenue/ Unit Sales Significantly below Slightly below At prior-year level Slightly above Significantly above Above -7.5% -7.5% to -2% -2% to +2% +2% to +7.5% Above +7.5% EBIT (Group) Above -15% -15% to -5% -5% to +5% +5% to +15% Above +15% FCF IB Above -25% -25% to -10% -10% to +10% +10% to +25% Above +25% Investments Above -10% -10% to -2.5% -2.5% to +2.5% +2.5% to 10% Above +10% S EQ 2952E R&D Above -10% -10% to -2.5% -2.5% to +2.5% +2.5% to 10% Above +10% CO2 emission* Above -5% -5% to -2.5% -2.5% to +2.5% +2.5% to +5% Above +5% Europe (European Union, Norway, Island) S. EQ 134E 29 9#30Mercedes-Benz Mobility: Net credit losses* 0.68% 0.61% 0.50% 2004 2005 2006 * As percentage of portfolio, subject to credit risk. Mercedes-Benz 0.36% 0.51% 0.89% 0.83% 0.43% 0.37% 0.34% 0.33% .0.31% 0.31% 0.26% 0.24% 0.26%. 0.21% 0.21% 0.2% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 30#31Disclaimer 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 utilise our production capacities; price increases for fuel, raw materials or energy; disruption of production due to shortages of materials or energy, labour strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimisation 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 this Annual Report. If any of these risks and uncertainties materialises, 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. Mercedes-Benz 31 1