This protective metal plate is an integral part of the belly pan and shields the front cross member and engine bay, while also serving to reinforce the front suspension and chassis. It attaches to the front axle support on all 2008, 2009, 2010, 2011, 2012 and 2013 model BMW M3, including the E90 M3 sedan, E92 M3 coupe, and E93 M3 convertible.
It's quite common for this metal belly pan to get damaged and managed in a crash or if hit by road debris. The best solution is to replace it with a new Genuine BMW reinforcement plate so that it's integrity is restored.
BMW Fitments:
3 Series
E90 / E91 / E92 / E93 (06-13) > M3