Slide 1: Second-Quarter Earnings Conference Call
2025 Second-Quarter Earnings Conference Call August 5, 2025 Value Others | Inspire Innovation | Grow Responsibly | Win Together
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements and projections contained in this presentation are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections
Slide 3: Agenda
Agenda © 2025 Dana Craig Barber R. Bruce McDonald Timothy Kraus Senior Director, Investor Chairman and Senior Vice President and Relations and Corporate Chief Executive Officer Chief Financial Officer Communications Introduction Business Review Financial Review 3
Slide 4: Second-Quarter Highlights
Second-Quarter Highlights Announced definitive agreement to sell off-highway business $2.7 billon purchase price; $2.4 billion net cash proceeds Expected to close late in the fourth quarter of 2025 Announced $1 billion capital return authorization and $2 billion debt reduction plan Increasing
Slide 5: New Dana: Focused Markets and Technologies
New Dana: Focused Markets and Technologies ~$7.7B 65 26 6 ~28,000 5,000+ PRODUCTS 2024 sales1 major manufacturing countries with continents employees globally customers in facilities Dana presence 120 countries O E M & A f t e r m a r k e t SEGMENTS LIGHT VEHICLE COMMERCIAL VEHICLE 70% 30% TECHNOLOG
Slide 6: 2025 Full-Year Financial Guide
2025 Full-Year Financial Guide 2025 Revised Guidance Midpoints ($ in millions) Continuing Discontinued Total Ops Ops Dana Prior Sales Guidance ~$7,150 ~$2,625 ~$9,775 YTD Guidance Update $250 $(125) $125 New Sales Guidance ~$7,400 ~$2,500 ~$9,900 Prior Adj EBITDA Guidance ~$600 ~$375 ~$975 Guidance
Slide 7: Financial Review
Financial Review © 2025 Dana 7
Slide 8: Q2 Financial Results
2025 Q2 Financial Results Changes from Prior Year Reduced sales YoY largely driven by continued lower demand in all end markets Continuing Ops Discontinued Ops ($ in millions, except EPS) Efficiency improvements and Q2 ‘25 Q2 ‘24 Change Q2 ‘25 Q2 ‘24 Change cost savings actions offsetting some m
Slide 9: Q2 Sales and Profit Changes
2025 Q2 Sales and Profit Changes Results are presented Sales excluding the Off-Highway $2,738M business which is now considered discontinued operations $2,047M $26M $10M $2M $1,935M $29M ($691M) ($7M) $0M Reduced sales YoY largely ($172M) driven by continued lower demand in all end markets Ope
Slide 10: Q2 Free Cash Flow
2025 Q2 Free Cash Flow Free cash flow includes cash generated from both continuing Changes from Prior Year and discontinued operations, to ($ in millions) align with deal structure One-time costs increased due 2025 2024 Change to restructuring and strategic transactions Adjusted EBITDA Cont Ops
Slide 11: 2025 Full-Year Financial Guide: Revised Guidance Ranges
2025 Full-Year Financial Guide 2025 Revised Guidance Ranges Current sales and adjusted EBITDA guidance excludes the discontinued Off-Highway Continuing Operations Midpoint of Prior operations for the full year Guidance Guidance Method¹ Tariff assumption includes recovery of majority of gross imp
Slide 12: Full-Year Sales and Profit Changes
2025 Full-Year Sales and Profit Changes Results are presented Sales excluding the Off-Highway $10,284M business which is now considered discontinued $7,733M ~$80M ~$150M ~$10M ~$7,400M operations ($2,551M) ~($100M) ~($425M) ~$0M ~($45M) Profit impact of volume declines more than offset by pricin
Slide 13: Full-Year Free Cash Flow
2025 Full-Year Free Cash Flow Higher profit, improved working capital efficiency, and lower Changes from Prior Year capital investment ($ in millions) requirements driving improvement over last year 2025 2024 Change Increase in net interest payments due to higher rates Adjusted EBITDA Cont Ops $
Slide 14: Balance Sheet and Capital Allocation
Balance Sheet and Capital Allocation Liquidity & Debt Capital Capital Allocation Priorities Cash Balance1 $486M Organic Growth Allocate capital internally to highest-return opportunities Drive profitable organic growth Revolver Capacity2 $865B Debt Repayment Liquidity2 ~$1.35B Achieve ~1x net
Slide 15: New Dana: Outlook 2026 and Beyond
New Dana: Outlook 2026 and Beyond $310M cost savings plan on track for 2026 Anticipate that in 2026, New Dana will have: Adjusted EBITDA margins of 10%-10.5% Cost savings plan: +100 bps Accretive new business: +60 bps Eliminated stranded costs: +50 bps Additional operational performance: +
Slide 16: Appendix
© 2025 Dana 16 Appendix
Slide 17: Q2 Sales and Profit Change by Segment
2025 Q2 Sales and Profit Change by Segment $1,401M $24M $11M $2M $1,335M $6M $0M ($109M) Sales Light Vehicle Systems $22M $1M $8M $112M $90M $29M ($8M) Adjusted EBITDA ($30M) 6.4% 5.9% 8.4% 2024 Vol/Mix Performance Cost Savings Tariff Currency Commodities 2025 $646M $23M $2M $600M $0M $0M ($70M) ($1
Slide 18: Segment Profiles: Customer and Regional Sales
Segment Profiles Light Vehicle Commercial Vehicle Systems Systems Year to Date 6/30/2025 Year to Date 6/30/2025 Other Paccar CUSTOMER SALES 22% 17% Ford 44% Renault / Traton Nissan 12% 5% Other 53% Tata 5% Volvo Toyota 10% 8% Daimler Stellantis* Ford 5% 16% 3% * Includes sales to systems integration
Slide 19: Segment Data
Segment Data DANA INCORPORATED DANA INCORPORATED Segment Sales and Adjusted EBITDA (Unaudited) Segment Sales and Adjusted EBITDA (Unaudited) For the Three Months Ended June 30, 2025 and 2024 For the Six Months Ended June 30, 2025 and 2024 Three Months Ended Six Months Ended (In millions) June 30, (I
Slide 20: Segment Data Continued
Segment Data Continued DANA INCORPORATED DANA INCORPORATED Reconciliation of Loss from Continuing Operations before Income Taxes Reconciliation of Loss from Continuing Operations before Income Taxes to Adjusted EBITDA (Unaudited) to Adjusted EBITDA (Unaudited) For the Three Months Ended June 30, 202
Slide 21: Segment Data Continued
Segment Data Continued DANA INCORPORATED DANA INCORPORATED Reconciliation of Earnings from Discontinued Operations before Income Taxes Reconciliation of Earnings from Discontinued Operations before Income Taxes to Adjusted EBITDA (Unaudited) to Adjusted EBITDA (Unaudited) For the Three Months Ended
Slide 22: Non-GAAP Financial Information
Non-GAAP Financial Information Adjusted EBITDA is a non-GAAP financial measure which we have defined as net income (loss) before interest, income taxes, depreciation, amortization, equity grant expense, restructuring expense, non-service cost components of pension and other postretirement benefit co
Slide 23: Value Others | Inspire Innovation | Grow Responsibly | Win Together
Value Others | Inspire Innovation | Grow Responsibly | Win Together