#12 22 25 Investor Presentation Sidoti Virtual Investor Conference NN Inc. | January 17-18, 2024 A#2Forward Looking Statement & Disclosures Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will”, “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management's control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises, including the COVID-19 pandemic, on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, and the availability of labor; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers' information technology systems or business operations disruptions. The foregoing factors should be not be construed as exhaustive and should be read in conjunction with the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in the Company's filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements. With respect to any non-GAAP financial measures included in the following presentation, the accompanying information required by SEC Regulation G can be found at the back of this presentation or in the "Investor Relations" section of the Company's web site, www.nninc.com, under the heading "News & Events" and subheading "Presentations." NN Inc., Investor Presentation | January 2024 2#3Investment Highlights Make Critical High- Spec Parts for Attractive End Markets New Top Leadership Team Enterprise Transformation Underway, Showing Results New Approach to Winning Future Business, Showing Results Reduce Debt and Deleverage, Showing Results +! • • • Leading manufacturer of high-precision metal products Decades of proprietary engineering know-how Products are know- how and applicable to multiple desirable end markets/applications - auto, medical, power New top team focused on results and accountability, new 2nd tier talent Led by new CEO Harold Bevis, who is experienced in these end markets and has executed multiple successful corporate transformations Just beginning transformation - sales wins, culling portfolio, profits, and cash flow Fixing unprofitable areas with opportunity to improve margins through cost optimization and price clearing initiatives Adding experts Leveraging current footprint and capabilities to drive organic growth and more wins Recently upsized efforts in medical, connectors and electrification New approach to mass balancing cashflows, immediate results Looking forward to refinancing with market metrics and more favorable terms than today's structure Future opportunities to add to portfolio, not now 2023 Preliminary Results Consistent with Prior Outlook NN Inc., Investor Presentation | January 2024 3#4NN at a Glance • BEST-IN-CLASS maker of high-precision, complex metal products • Achieved company-record $62.6 million in new business wins in 2023 with momentum in steering systems, electrical connector components, electrical shielding, battery management, sensors. Many new customers landed in 2023 with revised approaches. TWO PRIMARY PRODUCT SEGMENTS - Power Solution products are primarily precision stamped and plated parts and assemblies. Mobile Solutions products are primarily machined parts and assemblies GLOBAL MANUFACTURING PLATFORM: 27 facilities in 6 countries, and 49% ownership in China machining JV with sales >$100 million and 700 employees, ~$400 million of installed equipment (insured value) and ~$600 million in total PP&E (insured value) STRATEGIC PARTNER to diversified and global customer base with long standing business relationships and long-running business streams REVENUE (1) Key Data Points $495M EMPLOYEES ~3,200 ADJ. EBITDA (1) $41M CUSTOMERS 1,150+ Revenue Breakdown (1) 39% Power Solutions 61% Mobile Solutions More details on products and capabilities in the Appendix NN Inc., Investor Presentation | January 2024 (1) Trailing Twelve Months as of 9/30/23 4#5Two Primary Business Segments: Mainly Along Product Lines of Stamping and Machining Power Solutions Mobile Solutions Provides: Customers with precision stamping and plating capabilities to help codesign and produce safe, durable, and high-quality mission-critical components across a flexible volume/mix platform End Markets: Electric grid, Industrial, Vehicles, Electronics, Medical (new), Connector Parts (new), Electric Shielding (new) Key Product Applications: Smart meters, circuit breakers, sensors, transformers, switchgears, defense, and surgical instruments Provides: Customers with precision machining and finishing capabilities to develop 6 sigma product designs with unmatched speed to market and advanced in- house precision engineering capabilities End Markets: Vehicles, (ICE/BEV/HEV), Industrial, medical (new) Key Product Applications: Electric power steering, electric braking, electric motors, gas and diesel fuel systems, emissions control for heavy duty (dosing), HVAC compressors Connector Shields Smart Meter Contact Assembly or "Blade" Precision Worm Medical Surgical Instruments Shafts (electric power steering) Inlet Fittings Electric Motor Shafts NN Inc., Investor Presentation | January 2024 5#6• • Globally Competitive Operational Footprint Close-to-customer engineering centers coupled with both local and low-cost footprint New approach to leveraging global collective strengths and procurement scale 49% owner in ~$100m China machining JV for China market APAC Europe North America South America 16% EMPLOYEES 3 344 POL 72% REVENUE (1) 9% REVENUE (1) 7% REVENUE (1) 12% REVENUE (1) 54% EMPLOYEES 20% EMPLOYEES 10% EMPLOYEES 18 FACILITIES 4 2 FACILITIES FACILITIES FACILITIES 1000 NN Inc., Investor Presentation | January 2024 *NN, Inc. logos represent employee concentration. (1) Trailing Twelve Months as of 9/30/23 6#7Participate in Growing & Attractive End Markets ↑ Global Automotive Parts / Passenger Vehicle Grid and Electrical, 20% Commercial Vehicle T Global heavy-duty truck market estimated at 3.1 million units in 2023 Heavy-duty commercial vehicle sector is expected to continue to expand annually, delivering a CAGR of 3.3%, reaching 3.7 million units by 2028 Engine advancements focused on emission reduction and enhanced vehicle functions Source: GlobalData • • Modest market growth expected in 2024, with the market improving from a constrained year in 2023 Growth expected to overcome weaker economic outlook (LV) output. China market rapidly evolving which historically prompts contractions in light vehicle More normalized supply-side & vehicle pricing strategy expected to provide further support to 2024 Auto Parts/ Passenger Vehicle Comm'l Vehicle, 10% 40% Source: GlobalData ↑ Medical Components • • Orthopedic sales expected to increase 3.4% for 2023 and 3.4%-3.7% year-over-year through 2026 Procedure volumes in most product segments and geographic regions have normalized since COVID-19 While there may be pockets of backlogged procedures that produce a market demand tailwind, this anticipated upside may be partially offset by staffing shortages Source: ORTHOWORLD NN Inc., Investor Presentation | January 2024 Medical, 4% General Industrial, 21% Grid and Electrical Investment Global power grid market expected to grow at a CAGR of 4.37% thru 2032 Growing energy needs from residential and industrial sectors, the ongoing shift towards renewable energy sources, and the adoption of new technologies are projected to drive the levels of market demand across the forecast period Source: Polaris Market Data 7#8Transformation Plan Recently Launched, Showing Immediate Results Global Program to Secure New Growth, Increase Profits, Generate Free Cash Flow, Increase Shareholder Value Status Goal 1. Strengthen Leadership & Accountability • 2. Address Unprofitable Business • ~30% Complete 4. Deliver Consistent Annual Free Cash Flow 2023 Sales, Adjusted EBITDA and Cash Flow results expected to be in-line with prior comments and outlook 3. Expand Margins 5. Increase New Business Wins • • • • • Progress and 2024 Actions Adding significant talent across Commercial and Ops teams - i.e. sales, procurement, and manufacturing Reducing headcount in underperforming areas and adding personnel in areas key to advancement Strengthening operational processes and ERP system backbone Addressing unprofitable business strips while utilizing open capacity to add new business at a faster pace Cost-out and asset management improvements at plant level, with established quarterly/monthly targets Global total cost productivity and procurement optimization program both just beginning More aggressively holding the line on pricing Targeting ≥100bps improvement in Adj EBITDA margin vs. FY'23 Significant improvement in free cash flow in 2023 - and plan to continue momentum in 2024 and beyond Targeting similar levels of free cash flow - driven primarily by base business results, reinvestment rates and high-cost cap structure Delivered record NBW in 2023 and expect similar pace of wins in 2024 FY'24 Sales expected to be flat-ish Y/Y as team addresses some unprofitable business areas Multiple initiatives in development and not yet started Launching first-ever SEO efforts for enhanced lead generation NN Inc., Investor Presentation | January 2024 8#92028 Financial Goal: Leverage Strengths to A Much Higher Outcome Sales CAGR* of 4-5% on organic business – net of ICE decline, planned losses Revenue > $650MM Secure New Business Wins $50m to $70m per Year • • • • . Higher CAGRs expected in strategic growth areas: Medical, Connectors, and Electrical Systems Strategic acquisitions to grow share and drive deeper market penetration, when the time is right - not now Organic growth via aggressive participation in new program opportunities, not share shifts Focused in strategic growth areas (Medical, Connectors, Electrical Systems, Power Train-Independent) Strengthened commercial organization with increased new business win objectives annually Invest growth capex to expand capabilities in key growth areas Free Cash Flow Conversion > 50% of Adjusted EBITDA • Maintain cash flow mass balance discipline under all circumstances Decrease interest expenses through refit to a more favorable structure Utilize domestic NOL assets to lessen cash taxes Increase Adjusted EBITDA Rate to 12-13% Resolve existing unprofitable facilities and businesses Achieve continuous results from contemporary Operational Leadership programs Optimize global footprint to increase competitiveness, profits, ROIC 2023 Preliminary Results Consistent with Prior Outlook NN Inc., Investor Presentation | January 2024 9#10Transformation Plan: Correcting High-Cost Capital Structure and High Leverage QZ'23 Leverage Have Made Immediate Progress, Multiple Organic Fixes Underway Q3'23 Leverage Refi Goal 2025 or sooner Steady State Goal 2026 or sooner How to Achieve? 3.9x New Management 3.4x 2.5x 2.0x Increase EBITDA Cost-out Resolve Dilutive Situations Grow Sales Generate Higher Free Cash Flow Restricting Spending Gradually Lower Cost of Capital In Q2'23 NN's new leadership team launches 'Transformation Plan', increasing organizational commitment to accelerate sales, optimize operational performance, and grow cash flows Selective Portfolio Optimization Address and Optimize ROIC Eliminate Preferred Equity NN Inc., Investor Presentation | January 2024 10#11Investment Highlights Make Critical High- Spec Parts for Attractive End Markets +! New Top Leadership Team Enterprise Transform ation Underway, Showing Results New Approach to Winning Future Business, Showing Results Reduce Debt and Deleverage, Showing Results • • • Leading manufacturer of high-precision metal products Decades of proprietary engineering know-how Products are know- how and applicable to multiple desirable end markets/applications - auto, medical, power New top team focused on results and accountability, new 2nd tier talent Led by new CEO Harold Bevis, who is experienced in these end markets and has executed multiple successful corporate transformations Just beginning transformation - sales wins, culling portfolio, profits, and cash flow Fixing unprofitable areas with opportunity to improve margins through cost optimization and price clearing initiatives Adding experts Leveraging current footprint and capabilities to drive organic growth and more wins Recently upsized efforts in medical, connectors and electrification New approach to mass balancing cashflows, immediate results Looking forward to refinancing with market metrics and more favorable terms than today's structure Future opportunities to add to portfolio, not now 2023 Preliminary Results Consistent with Prior Outlook NN Inc., Investor Presentation | January 2024 11#12W NN Inc., Investor Presentation | January 2024 Appendix 12#13NN's Strong Product and Capability Portfolio • • • Multifaceted Certifications: Automobile, Commercial Vehicle, Aerospace & Defense, Medical ISO-9001, ISO-13485, IATF-16949, NADCAP AC7108 AND AC7014, ITAR Leading-Edge Precision Stamping, Machining and Plating Capabilities Nanometer and single-micron specifications and tolerances Unique knowledge of metal grades/metallurgy, tool design, and inspection Swiss-style machines, screw machines, rotary transfer machines, robotic machines Worm milling, gear hobbing, micro milling, grinding Multi-station, progressive stamping for high- and low-voltage connectors, electrical contacts, contact assemblies, EMI shielding, busbars, collector plates Gold, silver, palladium, nickel and tin plating in-house Laser cutting in-house, tool design and build in-house Global Footprint, Global Procurement, Global Cost Structures and Lead Times North America, South America, Europe and China NN Inc., Investor Presentation | January 2024 13#14Non-GAAP Financial Measures Footnotes The Company discloses in this presentation the non-GAAP financial measures of adjusted income (loss) from operations, adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow and net debt. Each of these non-GAAP financial measures provides supplementary information about the impacts of acquisition, divestiture and integration related expenses, foreign-exchange impacts on inter-company loans, reorganizational and impairment charges. Over the past five years, we have completed several acquisitions, one of which was transformative for the Company, and sold two of our businesses. The costs we incurred in completing such acquisitions, including the amortization of intangibles and deferred financing costs, and these divestitures have been excluded from these measures because their size and inconsistent frequency are unrelated to our commercial performance during the period, which we believe are not indicative of our ongoing operating costs. We exclude the impact of currency translation from these measures because foreign exchange rates are not under management's control and are subject to volatility. Other non-operating charges are excluded, as the charges are not indicative of our ongoing operating cost. We believe the presentation of adjusted income (loss) from operations, adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow and net debt provides useful information in assessing our underlying business trends and facilitates comparison of our long-term performance over given periods. The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies may calculate such financial results differently. The Company's non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to actual income growth derived from income amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. (a) Non-GAAP adjusted EBITDA represents GAAP income (loss) from operations, adjusted to include income taxes, interest expense, write-off of unamortized debt issuance costs, interest rate swap payments and change in fair value, change in fair value of preferred stock derivatives and warrants, depreciation and amortization, charges related to acquisition and transition costs, non-cash stock compensation expense, foreign exchange gain (loss) on inter-company loans, restructuring and integration expense, costs related to divested businesses and litigation settlements, income from discontinued operations, and non-cash impairment charges, to the extent applicable. We believe this presentation is commonly used by investors and professional research analysts in the valuation, comparison, rating, and investment recommendations of companies in the industrial industry. We use this information for comparative purposes within the industry. Non-GAAP adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as a measure of liquidity or as an alternative to GAAP income (loss) from continuing operations. NN Inc., Investor Presentation | January 2024 14#15Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted EBITDA (in thousands) GAAP loss from operations Professional fees Personnel costs (1) Facility costs (2) Depreciation and amortization Other expense (income), net Non-cash foreign exchange (gain) on intercompany loans Change in fair value of preferred stock derivatives and warrants Share of net income from joint venture Non-cash stock compensation TTM Q3 2023 $ (24,902) 797 2,584 7,059 47,912 (1,125) (969) 1,235 5,744 2,575 $ 40,910 Non-GAAP adjusted EBITDA (a) (1) Personnel costs include recruitment, retention, relocation, and severance (2) Facilities costs include costs of opening/closing facilities and relocation/exit of manufacturing operations NN Inc., Investor Presentation | January 2024 15#16W Thank You NN Inc., Investor Presentation | January 2024 Investor & Media Contacts Joe Caminiti or Alec Steinberg, Investors Tim Peters, Media [email protected] 312-445-2870 16