Schaeffler : Report by the CEO Klaus Rosenfeld

Annual General Meeting of Schaeffler AG on April 25, 2024

Report by CEO Klaus Rosenfeld

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Disclaimer

This presentation contains forward-looking statements, particularly statements that refer to future transactions or developments or to the future business activities of the Schaeffler Group. Words such as "anticipate", "assume", "believe", "estimate", "expect", "intend", "may", "plan", "project", "should", and similar expressions are used to identify forward-looking statements. Forward-looking statements are not historical facts; they include statements about the Schaeffler Group's beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates, and projections as they are currently available to the management of Schaeffler AG. Forward-looking statements therefore speak only as of the date they are made, and the Schaeffler Group undertakes no obligation to update any of them in the light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. These statements are based on Schaeffler AG management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, but not limited to, future global economic conditions, changed market conditions affecting the automotive industry or other industries relevant to the Schaeffler Group, more intense competition on the markets on which we operate, and costs for compliance with applicable laws, regulations, and standards, diverse political, legal, economic, and other conditions affecting our markets, and other factors beyond our control).

This presentation is intended to provide a general overview of the Schaeffler Group's business and does not purport to deal with all aspects and details regarding the Schaeffler Group. Accordingly, neither the Schaeffler Group nor any of its directors, officers, employees, or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in the presentation or of the views given or implied therein, and in which therefore no absolute reliance can be placed. Neither the Schaeffler Group nor any of its directors, officers, employees, or advisors nor any other person shall have any liability whatsoever for any errors or omissions or any damages whatsoever arising, directly or indirectly, from any use of this information or its contents or otherwise arising in connection therewith.

The material contained in this presentation reflects current legislation and the business and financial affairs of the Schaeffler Group, which are subject to change and review.

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Slide 1

Dear Shareholders,

Mrs. Schaeffler-Thumann,

Mr. Schaeffler,

Members of the Supervisory Board,

Ladies and Gentlemen,

On behalf of the Board of Managing Directors I would like to welcome you to the ninth Annual General Meeting of Schaeffler AG.

2023 was an important, remarkable year in the history of the Schaeffler Group. It was a year of major changes. A year in which we realigned and repositioned ourselves. A year in which we launched a groundbreaking strategic transaction. And a year which saw us define our ambition for the next few years to come: to become the leading Motion Technology Company with Vitesco. This ambition will take us into a new chapter in

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the Schaeffler Group's corporate history and demonstrates our intention to look to the future with a sense of confidence and optimism, firm in our belief that this merger will offer us excellent opportunities for the future.

Dear ladies and gentlemen, this year too I am going to split my report into three parts. In the first part, I will address our company's performance in the 2023 financial year and explain our dividend proposal. In the second part, I will outline how we started off in 2024 and give you a brief outlook on the development of the environment we are operating in.

In the process, I will also talk about the most important guiding principles that inspired, and continue to inspire, the merger with Vitesco. In the third part of my speech I would like to show what the new positioning of the Schaeffler Group announced at the beginning of August 2023 looks like, and how we are progressing with the integration of Vitesco.

This brings me to the first part of my report.

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Slide 2

2023 was a year in which the world and the environment in which we operate became more turbulent and volatile. You are all familiar with the issues that worried us in 2023 and continue to concern us. The war in Ukraine, for which no solution is in sight. The situation in the Middle East. Ongoing tensions between the USA and China that are causing lasting damage to world trade and the global economy. Natural catastrophes like the recent earthquake in Taiwan and the increasingly obvious consequences of climate change. All this is exacerbated by persistently high interest rates alongside flattening inflation rates, limited growth prospects in important regions of the world, and a variety of unresolved problems. Especially in Germany, our home market.

It would be beyond the scope of this speech if I were to analyze the exact effects of these developments. I would therefore like to limit myself to one essential message: Your Schaeffler Group has performed well in this environment, including in comparison with our competitors, and has

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demonstrated its strength and solidity. Despite all tribulations, the Schaeffler Group generated more than 16.3 billion euros in revenue in fiscal 2023, with a year-on-yearcurrency-adjusted growth of 5.8 percent. All our divisions and regions contributed to this growth. At the same time, the operating result amounted to 1.2 billion euros before special items. I will return to these figures in more detail in a moment. Before I do, please allow me to thank those who made 2023 a success.

Slide 3

We owe our success in 2023 first and foremost to our many customers, but also to our suppliers and business partners, whom I would like to thank for their outstanding trust and collaboration on all levels. Working with them, we were able to master the challenges of 2023 in a true spirit of partnership.

The complex underlying conditions, combined with the unprecedented speed at which technologies are evolving in our times and ever-

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increasing competitive pressure, make ongoing collaboration based on partnership and trust an issue of paramount importance. This applies particularly to the automotive industry, where the tensions between manufacturers and suppliers continued to be discernible. This should not dissuade us from seeking to balance the different interests and from taking a long-term perspective and thinking in wider contexts. This includes the firm belief that nowadays, collaboration takes place in what are termed ecosystems, where customers, suppliers, start-ups, associations and academic establishments all work together. We can combine our resources and our knowledge so that everyone can achieve their own goals, but without losing sight of the interests of everyone else and the system as a whole. In the course of 2023, the Schaeffler Group increased its presence in several such ecosystems, as we will now illustrate with several examples. In this context, we are and will continue to be a supplier. Once a supplier always a supplier, our founders said. This also means that we focus on the customer. And we aim to continue to do so in the future.

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Slide 4

My second thank you goes to my colleagues on the Board of Managing Directors and the entire management team of the Schaeffler Group. It is a strong team that worked extremely well together last year even under the most difficult conditions and in tune with our leadership principles of transparency, trust and teamwork.

Ladies and gentlemen, you already know that last year the Schaeffler Group announced several changes in its Executive Board. For the sake of completeness, please allow me to briefly explain what the future composition of the Schaeffler Group Board will look like when the planned integration of Vitesco has been completed.

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Slide 5

Ms. Corinna Schittenhelm, who already announced last spring that she would not be extending her contract with Schaeffler and who left the Schaeffler Group on January 1, 2024, has been succeeded by Dr. Astrid Fontaine as new Chief Human Resources Officer of the Schaeffler Group.

Dear Dr. Fontaine: A warm welcome to Schaeffler!

On behalf of the whole Board and the entire company, I wish you every success in your new role. We are confident that thanks to your great experience in the domestic and international automotive industry you will take us a major step forwards, and not just in terms of human resources! But especially when it comes to improving our position as an attractive employer for talented recruits, in particular from the younger generation, in all regions of the world in which we operate.

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Next week there will another important change in our Board. Dr. Stefan Spindler will leave the Schaeffler Group on April 30, 2024. This marks the end of a small era. Without Dr. Spindler, we wouldn't be where we are today.

Dear Stefan, your contribution to the strategic development of our company in recent years was and continues to be extremely important. Your passion for the industrial business has been the glue that held us together as a Group, as an automotive and industrial supplier. And your leadership qualities, that not only we as your colleagues on the Board but also our employees in the Industrial division have come to appreciate, have created a strong foundation on which we can and will build the success stories of tomorrow and beyond, regardless of all the cyclical fluctuations of the business.

Dear Dr. Spindler, dear Stefan: On behalf of all colleagues on the Board I would like to thank you most sincerely for nine years of outstanding collaboration that was always characterized by trust, transparency and teamwork. And I'd also like to thank you for inspiring talented individuals to take on responsibility.

One of these individuals is without doubt Mr. Sascha Zaps, who was recruited in 2019 by Dr. Spindler as CFO of our Industrial division and who has successfully led our Europe region in the last three years as Regional CEO. As already announced, Mr. Zaps will be the new CEO of our Industrial division - which we recently renamed "Bearings and Industrial Solutions" - from May 1, 2024, i.e., next Wednesday. In this new role, Mr. Zaps will be responsible for continuing to develop the bearing business, which now also includes bearings for the automotive

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