Slide 1: FY26 Second Quarter Earnings Call
FY26 Second Quarter Earnings Call May 6, 2026
Slide 2: Important Information
Important Information Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within
Slide 3: Agenda
Agenda > Introduction Linda Conrad VP, FP&A and Investor Relations > Business Update Jerome Dorlack President and CEO > Financial Review Mark Oswald Executive VP and CFO > Q&A FY26 Second Quarter Earnings Call 3
Slide 4: Q2 results driven by continued operational excellence
Q2 results driven by continued operational excellence > Q2 in line with internal expectations reflecting: − Seasonality in China − Relatively stable production in Americas and EMEA; inefficient run Key Q2 FY26 rates with certain customers—manageable, but creating near-term Financial Metrics producti
Slide 5: Consistent performance amid macro volatility
Consistent performance amid macro volatility Macro & geopolitical Results & proof points Adient’s operating model headwinds Middle East conflict > World-class global footprint Positive business performance (length and duration uncertain) despite temporary disruptions > Commercial discipline Increa
Slide 6: Regional update
Regional update > GoM reflects the benefits of > Navigating a complex operating > Overall market uncertainty key program wins…specifically environment remains with COEMs > Focused on growth as > Team remains focused on > New program awards reflect onshoring and conquest strong program launch ~70% CO
Slide 7: Capitalizing on growth opportunities
Capitalizing on growth opportunities Adient Americas incremental vehicle volume vs. FY25* Americas: (Units in 000’s) 25 Onshoring & conquest wins driving step-up growth Direct - ~200k incremental vehicle volumes secured – onshoring ~700K Chevrolet Equinox U.S. onshoring and conquest win Conquest / 2
Slide 8: Strategic tuck-in acquisition strengthens Adient's vertical integration
Strategic tuck-in acquisition strengthens Adient’s vertical integration Transaction overview > Acquired Woodbridge-Romulus foam manufacturing operations supporting key North American OEM seating programs > Increases Americas foam plant network to 10 plants; 30 plants globally > Operational transitio
Slide 9: Key new business wins and launches
Key new business wins and launches New business wins Recent launches Volkswagen Xpeng Nissan Leapmotor Volkswagen Rivian Polo, Nivus and New Mona M03 Elgrand D19 Saga R2 Virtus JIT, Foam, Trim, Asia Asia JIT, Trim Americas JIT Front-row Frame Changan GM Porsche Nissan Stellantis Avatr Q152 Chevrolet
Slide 10: Adient continues to accelerate the commercialization of innovative seating solutions
Adient continues to accelerate the commercialization of innovative seating solutions ProForce Massage Flow solution StepJoy foot massage system > Following the mass production of ProForce Massage Focus, > Most recently achieved the successful launch of industry-first Adient continues to advance its
Slide 11: Disciplined execution delivering tangible results in Q2
Disciplined execution delivering tangible results in Q2 Q2 execution highlights: ADNT’s Operating > Successful launches executed as planned, Model including complex, higher-content programs > Supplier-of-choice recognition translating into conquest wins across Americas and Asia > Continued onshoring
Slide 12: Financial Review
Financial Review FY26 Second Quarter
Slide 13: Q2 FY26 key financials
Q2 FY26 key financials $ millions, except per share data As Reported As Adjusted 1 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 B/(W) Consolidated Sales $ 3,865 $ 3,611 $ 3,865 $ 3,611 7% EBIT $ 127 $ (216) $ 146 $ 161 (9%) Margin 3.3% -6.0% 3.8% 4.5% EBITDA N/A N/A $ 223 $ 233 (4%) Margin 5.8% 6.5% Memo: Equity
Slide 14: Q2 FY26 consolidated and unconsolidated sales
Q2 FY26 consolidated and unconsolidated sales $ in millions Consolidated sales Adient TTM consolidated growth vs market by region 1 $97 TTM growth $157 Adient S&P Revenue Volumes Americas 5% 0% $3,865 EMEA 2 -5% -1% $3,611 China 5% 3% Asia excl. China 0% 2% Global Total 1% 1% Q2 FY25 FX Volume/Price
Slide 15: Q2 FY26 Adjusted EBITDA
Q2 FY26 Adjusted EBITDA $ in millions Q2 FY26 Adjusted EBITDA of $223M, down $10M y-o-y, $15 driven by: $233 ($5) $223 > Volume/mix headwinds during the quarter primarily ($18) ($2) due to lower customer volumes in EMEA, unfavorable temporary customer mix in the Americas, and anticipated margin comp
Slide 16: Q2 FY26 cash flow
Q2 FY26 cash flow Free Cash Flow Q2 YTD Key drivers impacting YTD FCF: ‐ Favorable working capital fluctuations driven FY26 FY25 FY26 FY25 by typical working capital swings and $90 Adjusted EBITDA $223 $233 $430 $429 million of timing related items (customer Adjusted equity income (14) (18) (43) (39
Slide 17: Debt and capital structure
Debt and capital structure $ in millions Debt maturity profile $1,000 $1,122 $500 $795 $500 $622 2026 2027 2028 2029 2030 2031 2032 2033 7.0% Senior Secured Notes Term Loan B 8.25% Senior Unsecured Notes 7.5% Senior Unsecured Notes ABL Extension > Total liquidity of ~$1.8B at March 31, 2026 (cash on
Slide 18: H1 to H2 expectations
H1 to H2 expectations H1 FY2026 Strong business performance more than > Delivered solid business performance, in-line with offset volume/mix headwinds, excluding internal expectations, despite challenging operating timing of commercial negotiations and environment temporary customer-driven productio
Slide 19: FY26 Outlook update
FY26 Outlook update Consolidated ~$14.8B > Revised revenue guidance based on near-term revenue (up from ~$14.6B) customer production schedules and S&P Global Adj.-EBITDA ~$885M production volumes (up from ~$880M) Equity income ~$70M > Adj.-EBITDA guidance reflects: Current (no change) Incl. in Adj.-
Slide 20: Adjusted EBITDA guidance walk
Adjusted EBITDA guidance walk $ in millions $30 $880 $10 $885 ($25) ($10) Timing – recoveries expected in FY27 Prior Volume / Middle East Supplier Business Current Guidance Mix Impact Disruption Performance Guidance Favorable volume and business performance more than offset input cost headwinds FY26
Slide 21: Expected normalized free cash flow
Expected normalized free cash flow Expected FCF profile* $50 Calls for cash $20 CapEx expected to remain ~$300M $30 $230 Restructuring trending to more “normalized” levels $130 Interest expense easing FY25 pull Restructuring FY26 ahead actions Cash Normalized Cash taxes reverting to normal levels ou
Slide 22: Appendix and Financial Reconciliations
Appendix and Financial Reconciliations FY26 Second Quarter
Slide 23: Q2 FY26 Adjusted EBITDA: Americas
Q2 FY26 Adjusted EBITDA: Americas $ in millions YTD View $6 Q2 FY26 Adjusted EBITDA of $109M, up $19 ($1) $189 $179 $15M y-o-y, driven by: ($14) 5.4% 5.4% > Improved business performance of $10M due to favorable timing of commercial activities, partially offset by increased YTD Q2FY25 Business Perfo
Slide 24: Q2 FY26 Adjusted EBITDA: EMEA
Q2 FY26 Adjusted EBITDA: EMEA $ in millions Q2 FY26 Adjusted EBITDA of $45M, down YTD View $5M y-o-y, driven by: $10 $4 $1 $79 $72 ($8) > Volume/mix was unfavorable $13M y-o-y primarily due to lower customer volumes 3.1% 3.2% and planned strategic portfolio actions YTD Business FX Equity Volume / YT
Slide 25: Q2 FY26 Adjusted EBITDA: Asia
Q2 FY26 Adjusted EBITDA: Asia $ in millions YTD View $221 $7 $2 $207 Q2 FY26 Adjusted EBITDA of $92M, down ($7) ($16) $18M y-o-y, driven by: 14.9% 13.3% > Unfavorable business performance of $9M during the quarter due to timing of YTD FX Equity Volume / Business YTD commercial negotiations and incre
Slide 26: Non-GAAP financial measurements and pro-forma reconciliations
Non-GAAP financial measurements and pro-forma reconciliations Adjusted EBIT, adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to Adient, adjusted effective tax rate, adjusted earnings per share, adjusted equity income, adjusted interest expense, free ca
Slide 27: Non-GAAP reconciliations – EBIT, Adj.-EBIT, Adj.-EBITDA, and Adj.-net income
Non-GAAP reconciliations – EBIT, Adj.-EBIT, Adj.-EBITDA, and Adj.-net income FY26 Second Quarter Earnings Call May 6, 2026 27
Slide 28: Non-GAAP reconciliations – Adj. income tax expense and effective tax rate
Non-GAAP reconciliations – Adj. income tax expense and effective tax rate FY26 Second Quarter Earnings Call May 6, 2026 28
Slide 29: Non-GAAP reconciliations – Adj. EPS and Adj.-equity income
Non-GAAP reconciliations – Adj. EPS and Adj.-equity income FY26 Second Quarter Earnings Call May 6, 2026 29
Slide 30: Non-GAAP reconciliations – Adj. interest expense, free cash flow, net debt leverage ratio
Non-GAAP reconciliations – Adj. interest expense, free cash flow, net debt leverage ratio FY26 Second Quarter Earnings Call May 6, 2026 30
Slide 31: Non-GAAP reconciliations – consolidated & unconsolidated sales (FX adj.)
Non-GAAP reconciliations – consolidated & unconsolidated sales (FX adj.) (k) FX adj. sales Consolidated Sales (FX adjusted) (in $ millions) Consolidated Net Sales Q1 Q2 Q3 Q4 FY2025 As reported $ 3,495 $ 3,611 $ 7,106 FX Impact 98 157 $ 255 FX Adjusted 3,593 3,768 - - 7,361 Unconsolidated Sales (FX
Slide 32: Segment performance
Segment performance Q1 2025 Q1 2026 Corporate/ Corporate/ Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Eliminations Eliminations Net Sales 1,611 1,129 772 (17) 3,495 1,642 1,205 819 (22) 3,644 Adjusted EBITDA 85 22 111 (22) 196 80 34 115 (22) 207 Adjusted Equity Income - 5 16 - 21
Slide 33: Non-GAAP reconciliation – footnote addendum
Non-GAAP reconciliation – footnote addendum FY26 Second Quarter Earnings Call May 6, 2026 33