Slide 1: Q1 2026 Financial Results
APRIL 30, 2026 Q1 2026 FINANCIAL RESULTS © 2026 2025 Garrett Motion Inc.
Slide 2: Forward Looking Statements and Non-GAAP Financial Measures
Forward Looking Statements This communication and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such
Slide 3: Key Business Highlights
Key Business Highlights Q1 2026 Financial Performance Industry and Business Trends Net Sales of $985M Continuing to deliver strong financial performance • +12% reported and +6% at constant currency1 vs. Q1 • Increasing 2026 outlook for stronger H1 volumes 2025, including tariff recoveries • Mitigati
Slide 4: Continued success across differentiated technologies
Continued success across differentiated technologies Turbo and Hybrid Technologies Zero Emission Technologies Light Vehicle Turbo Commercial Vehicle Turbo Industrial Turbo E-Powertrain E-Cooling Compressor Fuel Cell Compressor • Secured multiple VNT wins in light vehicle gasoline turbo, including se
Slide 5: Quarterly financial trends: Q1 2025 – Q1 2026
Quarterly financial trends: Q1 2025 – Q1 2026 Reported Net Sales ($M) Adjusted EBIT1 ($M) 985 878 913 902 891 51% 49% 50% 48% 48% 151 20% 20% 19% 19% 18% 131 124 133 122 29% 27% 29% 31% 28% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Adj. Europe North Asia Others
Slide 6: Net Sales Bridge: Q1 2026
Net Sales Bridge: Q1 2026 ($M) 985 58 10 0 878 20 13 6 Q1 2025 Net Sales Gasoline Diesel Commercial Aftermarket Others FX Q1 2026 Net Sales Vehicle/Industrial % change1 3% 3% 13% 10% - 6% % of Reported Q1’26 Net Sales 45% 24% 18% 12% 1% • Q1 2026 Net Sales of $985M, up $107M or 12% on a reported bas
Slide 7: Adjusted EBIT Bridge: Q1 2026
Adjusted EBIT1 Bridge: Q1 2026 ($M) ($M) 151 4 (11) 13 131 19 2 (14) 7 $(16)M operating performance year-over-year 15.3% 14.9% Q1 2025 Volume Product Mix Pricing net Commodity, Productivity, RD&E FX Q1 2026 Adjusted EBIT1 of Inflation Transportation SG&A - net Adjusted EBIT1 Passthrough and Energy I
Slide 8: Q1 2026 Adjusted EBIT to Adjusted Free Cash Flow Bridge
Q1 2026 Adjusted EBIT 1 to Adjusted Free Cash Flow 1 Bridge ($M) • Cash generation aligned with full year expectations (78) • Use of working capital in line with expectations, expected to be 151 recovered through the year (13) • Cash taxes, capital expenditures, (10) 3 (29) 25 depreciation and cash
Slide 9: Ample liquidity with no near-term debt maturities
Ample liquidity with no near-term debt maturities ($M) Liquidity and Net Debt2 Q4 2025 Q1 2026 Unrestricted Cash1 177 142 Q1 2026 Highlights Undrawn Revolver Credit Facility 630 630 • Term Loan and Unsecured Notes maturing in 2032 Total Liquidity 807 772 2032 7Y Term Loan 637 635 • Net leverage rati
Slide 10: Targeting to return 75% of Adj. FCF to shareholders over time
Targeting to return 75%1 of Adj. FCF2 to shareholders over time Shareholder Returns ($M) 570 Q1 2026 Highlights 296 208 213 • Repurchased $87M of common stock in Q1 2026 87 52 16 • ~188 million shares outstanding as of 2023 2024 2025 Q1 2026 YTD March 31, 2026, down 44% since January 2023 Preferred
Slide 11: Increasing 2026 outlook for stronger H1 volumes
Increasing 2026 outlook for stronger H1 volumes Outlook Prior Outlook Net Sales $3.6B to $3.9B $3.6B to $3.8B Net Sales Growth -2% to +6% -2% to +2% at Constant Currency 1 Net Income $300M to $360M $295M to $335M Adjusted EBIT1 $520M to $600M $520M to $570M Net Cash Provided $407M to $522M $407M to
Slide 12: 2026 Technology and Investor Day
2026 Technology and Investor Day May 20, 2026, at 9:00 am – 12:00 pm ET, New York City Program • Next phase of the company’s strategic evolution • Progress across Turbo, Zero-Emission Vehicle and Industrial technology portfolios • Long-term growth trajectory and financial priorities Presentations wi
Slide 13: Delivering strong results and advancing the transformation
Delivering strong results and advancing the transformation Strong start to 2026, with Q1 2026 Adjusted EBIT 1 of $151M, 15.3% Adjusted EBIT Margin 1 and $49M of Adjusted Free Cash Flow 1 Multiple wins in turbo in all product segments, including genset, hybrid, REEV applications Strong momentum in Ze
Slide 14: Appendices
APPENDICES
Slide 15: Income Statement
Income Statement ($ in millions) Q1 2026 Q1 2025 Net sales $985 $878 Cost of goods sold 789 699 Gross profit 196 179 Selling, general and administrative expenses 58 59 Other expense, net 1 7 Interest expense 27 29 Non-operating income (8) (1) Income before taxes $118 $85 Tax expense 23 23 Net income
Slide 16: Balance Sheet Summary
Balance Sheet Summary Assets March 31, 2026 December 31, 2025 Cash and cash equivalents $142 $177 Restricted cash 2 2 Other 1,231 1,140 Total current assets 1,375 1,319 Property, plant and equipment-net 437 462 Deferred income taxes 184 210 Other 377 376 Total assets $2,373 $2,367 Liabilities Total
Slide 17: Summary of Cash Flows
Summary of Cash Flows ($ in millions) Q1 2026 Q1 2025 Net income $95 $62 Net cash provided by operating activities $98 56 Net cash used for investing activities ($26) ($22) Net cash used for financing activities ($105) (31) Effect of foreign exchange rate changes on cash, cash equivalents and restri
Slide 18: Reconciliation of Constant Currency Sales % Change
Reconciliation of Constant Currency Sales % Change Garrett Q1 2026 Q1 2025 Reported sales % change 12% (4%) Less: Foreign currency translation 6% (2%) Constant Currency sales % change 6% (2%) Gasoline Reported sales % change 10% 4% Less: Foreign currency translation 7% (2%) Constant Currency sales %
Slide 19: Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow
Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow and Adjusted Free Cash Flow Conversion ($ in millions) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Net cash provided by operating activities $98 $99 $100 $158 $56 Expenditures for property, plant and equipment (29) (21) (10) (15) (26
Slide 20: Reconciliation of Net Income to Adjusted EBIT, Adjusted EBITDA and Consolidated EBITDA
Reconciliation of Net Income to Adjusted EBIT, Adjusted EBITDA and Consolidated EBITDA1 ($ in millions) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 LTM Q4 2025 LTM Q1 2026 Net income - GAAP $95 $84 $77 $87 $62 $310 $343 Interest expense, net of interest income 26 24 28 23 29 104 101 Tax expense (benefit
Slide 21: Reconciliation of Long-Term Debt to Net Debt and Related Ratios
Reconciliation of Long-Term Debt to Net Debt and Related Ratios ($ in millions) Q1 2026 Q4 2025 Long-term term debt $1,410 $1,411 Short-term term debt $7 $7 Deferred finance costs $20 $21 Gross Debt $1,437 $1,439 Cash and cash equivalents $142 $177 Net Debt $1,295 $1,262 Consolidated EBITDA LTM (Non
Slide 22: Full Year 2026 Outlook Reconciliation of Net Sales Growth to Constant Currency
Full Year 2026 Outlook Reconciliation of Net Sales Growth to Net Sales Growth at Constant Currency © 2026 Garrett Motion Inc.
Slide 23: Full Year 2026 Outlook Reconciliation of Net Income to Adjusted EBIT to Adjusted EBITDA
Full Year 2026 Outlook Reconciliation of Net Income to Adjusted EBIT to Adjusted EBITDA ($ in millions) 2026 Full Year Low End 2026 Full Year High End Net income - GAAP $300 $360 Interest expense, net of interest income 101 101 Tax expense 101 121 Repositioning costs 23 23 Factoring and notes receiv
Slide 24: Full Year 2026 Outlook Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow
Full Year 2026 Outlook Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow © 2026 Garrett Motion Inc.
Slide 25: Investors
Investors Cyril Grandjean +1 (734) 392-5504 investorrelations@garrettmotion.com © 2026 Garrett Motion Inc.