Q22013

Investor / Analyst Meeting

1 1

Agenda
Financial Highlights
Q213 Financial Highlights Group Profit & Loss and Balance Sheet

Mansfield Manufacturing Company Limited

MSF Financial Highlights MSF Revenue & Profit Analysis MSF Product Mix & Customers

Outlook for Q313 and FY13

Q213 Financial Highlights

Q213 Continuing Operations (CO) revenue of S$58.3M was S$12.7M lower than Q212 Impacted by slower manufacturing activities and growth in China; political tension between Japan and China Higher demand for automotive products mainly from non-Japanese customers in Q213 partially offset the impact of the slower growth CO GP Margin reduced to 13.6% vs 14.1% in Q212 due to lower revenue and higher operating costs, particularly wages Lower G&A expenses to S$7.9M (Q212 S$11.3M); due to restructuring exercise completed in Q113 and streamlining of operations in 1H13 Achieved breakeven at S$32K profit (Q212 S$2.2M loss); EPS 0.01c (Q212 -0.99c) Mansfield achieved CO net profit of S$0.1M (S$1.5M loss in Q212 excluding loss from disposal of MICL in Q212) Corporate loss was S$0.1M, unchanged from Q212
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Profit and Loss Highlights Q213 vs Q212

June 30 Turnover
Precision Components and Tooling Precision Sub-assembly 53.3 5.0 59.4 11.6 (6.1) (6.6) (10.3) (56.9)

Q2'13 S$'M

Q2'12 S$'M

Q2'13 vs Q2'13 vs Q2'12 Q2'12 S$'M %

Group Turnover (MSF) Net Profit after tax & MI

MSF MSF - loss on disposal of MICL in Apr'12 Subtotal - M SF Group Corporate

58.3
0.1 0.1 (0.1)

71.0
(1.5) (0.6) (2.1) (0.1)

(12.7)
1.6 0.6 2.2 -

(17.9)
NM NM NM NM

Group (Loss) / Profit Basic EPS (cents) Group EPS

"NM" denotes Not meaningful

0.01

(2.2) (0.99)

2.2 1.00

NM NM

Balance Sheet Highlights

30/06/13 S$M 31/12/12 S$M Change %

Total Assets
Total Borrowings * Cash & bank balances ** Shareholders Funds Net Cash Position

246.2
7.9 25.8 159.4 18.0

246.3
16.1 35.8 156.7 19.7

(0.0)
(50.9) 27.9) 1.7 (8.6)

Net Asset Value / share (cents)

71.2

70.0

1.7

* **

Reduced mainly due to repayment of Bank loans (S$5.3M) and overdraft (S$2.0M) Reduced mainly due to repayment of borrowings (S$8.2M), acquisition of investment securities held for sale under portfolio management (S$5.2M), dividend payment to shareholders in May13 (S$2.2M) offset by proceeds from sale of SMW1 (S$2.6M), 5% deposit for sale of HK premise (S$0.8M) and receipt in Mar13 of second tranche settlement for disposal of MICL (S$1.4M)

Shareholder Value
Dividends and EPS
S cents

35 30 25 20

15
10

Special Dividend

Final Dividend

5
0 -5 -10 2007 2008 2009 2010 2011 2012

EPS

The Group is committed to enhancing shareholder value and distribute dividends after taking into consideration cash needed for strategic planning and expansion. In May 2013, the Group paid FY12 dividend of S$2.2 million despite operational loss. Proceeds from FY12 Sabana dividends and from the sale of MICL received in March 2013 were used to fund the payout. 6

Mansfield Manufacturing Company (MSF)

MSF Highlights
Diversified base of end-customers

Integrated manufacturing process with sheet metal processing,

Robotic welding, Surface finishing, heat treatment & project engineering

Steady growth business with compounded annual revenue

growth exceeding 30% before the financial crisis in 2008 Over 37 years of stamping and tooling experience since 1975

Over 21 years of experience operating in China since 1991

MSF Continuing Operations Financial Highlights Q213

Below are analysis of significant variance for Q213 compared to Q212 : Q213 vs Q212 S$M MSF Lower G&A expense Lower salaries and benefits due to lower headcount Lower depreciation with the retirement and sales of old PPE from the shutdown of 2 factories in FY12 Lower business tax Higher interest/other income mainly gain from disposal of SMW1 in Apr13 Lower selling & distribution expense Lower interest expense Higher exchange loss Higher tax Provision for doubtful debt in Q213 vs reversal in Q212 Lower GP margin mainly due to lower revenue Lower loss Q213 vs Q213 (before one-time loss on MICL disposal in Q212) Loss on disposal of MICL in Q212 not repeated in Q213 Lower loss - Q213 vs Q212 3.3

0.4 0.2 0.1 (0.1) (0.1) (0.2) (2.0) 1.6 0.6 2.2
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Q213 Revenue of S$58.3m

MSF Q213 vs Q212 Revenue (Business Units)

Q212 Revenue of S$71.0m

Q213
S$m Stamping Assembly 48.7 5.0 % 83 8

Q212
S$m 56.2 11.6 % 79 16 Note (a) (b)
(a) Lower revenue for OA customers like Ricoh, Konica and Canon offset by higher sales to automotive customers Faurecia, Kiekert and TRW (b) Reduction in TV stand and Panasonic TV frame partially offset by sales to new customer (Sony) in Q213 (c) Increased sales to Dexter, Feurecia , Minth, TPV and Dura

Tooling
Total Revenue

4.6
58.3

9
100

3.2
71.0

5
100

(c)

Q213 Revenue of S$58.3m

MSF Q213 vs Q212 (End Products Analysis)

Q212 Revenue of S$71.0m

Q213 Revenue of S$58.3m

MSF Q213 vs Q212 (Customer Analysis)

Q212 Revenue of S$71.0m

Q2'13 "Others" Breakdown S/N

1 2 3 4 5 6

Customers
TRW CONTINENTAL MINTH TPV DURA Others ( incl scrap sale)

%
3 3 2 2 1 15

Non-Japanese

Subtotal Japanese Toshiba Other Japanese Total

26
1

9 36.0

MSF Business Units Product Mix & Customers

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Major Customers
Business Division
(Continuing Operations)

Stamping

Tooling

Assembly

**

** Cold-forging/ CNC Machining and Electro Mechanical Assembly

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Key Products/Components
Business Division
(Continuing Operations) Stamping
Notebook computer metal Photocopier Metal Frame parts LCD TV Chassis Frame Automotive parts
32 x 27 57

Tooling
Metal Die and Toolings for Automotives parts Faceta Panel in SOLUCAR Solar System

Assembly for 50 TV stand

Assembly for 32/37/42 TV Cabinet

Cold Forging tablet cover

Assembly

**

** Cold-forging/ CNC Machining and Electro Mechanical Assembly

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Products by Business Segments

(Continuing Operations (CO) Only) Metal Stamping 83% of Q213 CO revenue
Audio/Video Flat TV 7% Others Office Automation 0% 5% 55% Home Appliances 2% Automotives 31%

Assembly 8% of Q213 CO revenue

Flat TV 86%

Others 10%
Office Automation 4%

Tooling 9% of Q213 CO revenue

Automotives 100%

Office Automation 0%

Others 0%
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Outlook for Q313 & 2H13

Slower manufacturing activities and growth in China continue to impact Groups business outlook Continued challenges of high operating cost, particularly rising minimum wages in China and competition from local companies with lower cost structures Anti-Japanese sentiment led many Japanese customers to relocate production facilities to SEA and other regions Groups Japanese customers continue to face fierce competition from producers of other countries, especially South Korea

Demand for automotive components remains strong while outlook for other industry sub-sectors TV and Office Automation components remain uncertain
Despite improved Q213 performance, the Directors remain cautious about the Groups outlook for Q312 and 2H13 Will continue to streamline operations to achieve further cost efficiencies

Thank You
Q&A

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Dividends, Share Buyback, REIT Investment

Since disposal of MPT in 2007, InnoTek has paid 35c dividend per share 20c FY07; 5c FY08, 5c FY09, 5c FY10, 5c FY11 and 1c FY12 Total dividend payment so far amounts to S$84.3M Second enhancement strategy share buybacks. Since disposal of MPT has been buying back. Holds 22.7M shares or 10.1% of net issued capital as at 31 December 2012. In March 2008 Company had re-issued 15.8M treasury shares to buy remaining 16.7% stake in MSF On 29 November 2010, announced investment of S$15.7M in 15M shares in SGX-listed Sabana REIT. Fair value of the Reits was S$17.1M as at 31 December 2012

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Mansfield Group Overview

Mansfield Group specializes in Cold Forging/CNC Machining, Precision Components Stamping, Tool & Die fabrication & ElectroMechanical Assembly for : Consumer, Computer & Communication industries
Flat Panel TV, Tablet, Mobile Phone

Office Automation industry

Copier

Automotive industry

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Business Division
E - Export ; D - Domestic

Mansfield Group
Stamping

In China

Sun Mansfield (SMW) , D/E

Dongguan Mansfield (DGM) , D/E

Wuhan Mansfield (WHM) , D/E

Suzhou Mansfield (SZM) , D/E

Tooling In China Cold-forging/ CNC Machining Electro - Mechanical Assembly In China

Feng Chuan Tooling (Dongguan) (FTD) , D/E

Magix WOFE (MXD) , D/E

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Manufacturing Locations
As at 30 June 2013

Mansfield Group
Southern China
Sun Mansfield * 71,230 M2 2,578 Headcount Magix WOFE 19,200 M2 667 Headcount Dongguan Mansfield 31,000 M2 556 Headcount Feng Chuan Tooling 18,000 M2 315 Headcount

Eastern China

Suzhou Mansfield 71,000 M2 1,256 Headcount

Total MSF Group 223,230 M2 Factory Space 5,359 Headcount

South Central China

Wuhan Mansfield 12,800 M2 87 Headcount

* Sun Mansfields area & headcount are including HK office (HKM)

Precision Metal Components and Subassembly

Location Map

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Quick Recap of Recent Corp Activities

Acquired 75% stake in Exerion in January 2007.

Disposed of MPT (storage business) for US$133 million and changed name to InnoTek in November 2007
Acquired remaining 16.67% Stake in Mansfield in April 2008 (owns 100% now) Mansfield is core business precision metal component manufacturing, metal stamping, tool and die fabrication and frame manufacturing, sub-assembly, etc Mansfield acquired an additional 16.67% equity interest in Exerion Precision Technology Holding B.V. from its minority shareholder on 9 February 2010. Disposed of 42.7% equity interest in Exerion on 20 February 2012 with the balance of 49% signed under an Option Agreement, exerisable up to and including 31 March 2014 Signed an agreement to dispose of its 55% shareholding in Mansfield Industrial Co. Ltd (MICL) , the holding company of Mansfield Dalian on 20 February 2012. The sales was approved at the EGM by Shareholders on the 27 April 2012.
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MSF Operational Structure

Mansfield Manufacturing Company Limited (MSF)

Mansfield
Stamping

Feng Chuan
Tooling Yian Tian, Dongguan China

Magix
Cold-forging/CNC Machining, Electro-mechanical Assembly Magix WOFE Yian Tian, Dongguan China

Sun Mansfield Tangxia, Dongguan China Dongguan Mansfield Tangxia, Dongguan China Suzhou Mansfield Suzhou China Wuhan Mansfield Wuhan China

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Corporate Structure
InnoTek Limited (InnoTek)

100%

Mansfield Manufacturing Company Limited

(MSF)

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Mansfield Group Wide Resources (1)

Facilities 223,230 M2 6 Locations World Wide 5,459 Headcount Capabilities Cold-forging (SUS / Aluminum) Product CNC Machining (SUS / Aluminum) Precision Components Stamping Panasonic Robotic Laser Welding MGX Hitachi FSW (Friction Welding) - MGX Tool & Die Fabrication Mechanical/Electronics Assembly Resources 72 Cold-forging presses
(66 - 500T) (6 - 1000T)

132 CNC Machining Centre 740 Metal Stamping presses (25T 1100T) 74 Wirecut Machines 15 CMM Equipment 28 EDM Machines 15 CNC Lathes 12 Plastic Injection Molding Machines (75T 700T) 1 High-speed Laser Cut Machine Multi-function Assembly Lines Cleaning Lines Design Software AutoCAD, Solidworks, CATIA, Dynaform, PRO/E,

Unigraphics, Deform,
MasterCAM and Powermill

Mansfield Group Wide Resources (2)

Other Services Sub-zero Heat treatment Project engineering service Prototype / Engineering development Robot electrical arc welding with gas shield & laser welding Threads tapping to stamped parts Cold and hot riveting

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Metal Stamping Presses by Plants

ON TO TO TO TO 60 0-1 10 0T 25 -99 T ON N N N N 40 0-5 99

10 0-1 99

20 0-2 99

PLANTS Sun Mansfiled Dongguan Mansfield Suzhou Mansfield Wuhan Mansfield Feng Chuan Tooling Magix Mechatronics TOTAL 115 11 65 2 3 24 220

30 0-3 99

TOTAL 351 95 208 29 21 36 740

135 36 60 10 7 12 260

60 28 35 10 6 0 139

34 12 30 2 2 0 80

4 6 14 2 1 0 27

3 2 4 3 2 0 14

June 2013