From the two points I've marked, there is the edge of a 90° bend in the alloy.
This part isn't fastened onto any steel box though, as you can see the rivets carry on up the side of the square box.
The panel is in 'free air' between these points.
Older Transformers (Hawks) don't have this detail.
I remember a green Hawk demo chassis that had the front splash panels glued on (no rivets at all).
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