Slide 1: Q4 2025 Earnings
—PHINIA Q4 2025 EARNINGS Delphi = Mi netcoremy | @hartridge
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements are statements other than historical fact that provide current expectations or forecasts of future events based on certain assumptions and a
Slide 3: Vision for Long Term Value Creation
VISION FOR LONG TERM VALUE CREATION Product Stable Growth Financially Total Shareholder Leadership Strategy Disciplined Returns Technology Expert Pursue Attractive Sustainable, High-Quality Disciplined Investment for and Partner of Growth Opportunities in Margin and Cash Flow Growth and Competitive
Slide 4: Fourth Quarter 2025 Results
FOURTH QUARTER 2025 RESULTS 4th Quarter Strong Financial Performance Supported Return of $40M to Shareholders, Debt Reduction of $24M, and $10M Increase in Cash and Cash Equivalents Key Financial Metrics $889M $116M 13.0% $1.18 • 12.6% Total Segment Adj. Net Adjusted Adjusted Adjusted Operating Inco
Slide 5: Fuel Systems – Segment Wins
FUEL SYSTEMS – SEGMENT WINS Conquest Extension New Business A Post Combustion Fuel Valve Commercial Vehicle (CV) New Business Win in India with a Conquest Win with a Global Truck Contract Extensions with Leading OEM for Port Fuel Injectors Aerospace and Defense Contractor. Global CV OEMs. Reinforces
Slide 6: Aftermarket – Segment Wins
AFTERMARKET – SEGMENT WINS New Business Conquest Distributors Range Development New Vehicle Electronics New Gasoline Fueling Added New Distributors for In 2025, ~5,800 New SKUs Program With a Conquest Wins with Two Starters & Alternators in Were Added Across Our Major Aftermarket Major Distributors
Slide 7: Diversified Industrial
DIVERSIFIED INDUSTRIAL Sales By Region, Customer & End-Markets Served In 2025 Sales By Region Sales By Customer Sales By End Market • Americas - 43% • Top 5 - 37% • Service - 35% • LPV - 25% • Europe - 40% • Other - 63% • MD/HD CV - 15% • LCV - 19% • APAC - 17% • Off-Hwy / Ind. / Other – 6% Flexibil
Slide 8: Disciplined Capital Allocation
DISCIPLINED CAPITAL ALLOCATION Expect >$200M Adjusted Free Cash Flow(1) Per Year Average Through End Of Decade Strong Foundation – Competitive Investment (2) Balance Sheet Capital Return for Growth • Strong Balance Sheet • Expect to Maintain Competitive • Disciplined, ROIC-Focused Dividend Reinvestm
Slide 9: Accomplishments & Objectives
ACCOMPLISHMENTS & OBJECTIVES Shareholder Return Operations TSR of 140% based on PHINIA Disciplined Capital Allocation with Share Price and Dividends Continued Resilient & Consistent Paid (2024-2025) Operational Performance M&A Sales Completed First Organic Growth at High- Acquisition In August End 2
Slide 10: Expected Consistent Performance Through the Decade
EXPECTED CONSISTENT PERFORMANCE THROUGH THE DECADE Strong Modest Margins Leverage Target 2 - 4% 14 - 15% >40% ~1.5x Average Organic Adj. EBITDA Adj. Cash Flow Net Leverage(4) Revenue CAGR (1) Margin(2) Conversion(3) Global Scale Highly Cash with Growth Generative (1) Does not include Contract Manufa
Slide 11: Q4 2025 Net Sales
Q4 2025 NET SALES Volume/Mix Tariffs FX Other M&A Higher Sales in Customer Mainly Driven All Other Price Newly Acquired Asia and Recovery of by Adjustments SEM Business Americas, Tariffs Strengthening Partially Offset of EUR and by Lower Sales GBP in Europe $M 11
Slide 12: Q4 2025 Adjusted EBITDA
(1) Q4 2025 ADJUSTED EBITDA Volume/Mix Net Tariffs Pricing & COS Corporate & All M&A Unfavorable Net Tariff Supplier Other Newly Acquired Product Mix Pass-Through Savings and Primarily Driven SEM Business Across Asia and Overhead by R&D Savings Americas Cost Control Measures $M (1) Non-GAAP metric.
Slide 13: Full Year 2025 Adjusted Sales
(1) FULL YEAR 2025 ADJUSTED SALES Volume/Mix Tariffs FX Other M&A Higher Customer Mainly Driven All Other Price Newly Acquired Asia Sales, Recovery of by Adjustments SEM Business Offset by Lower Tariffs Strengthening Starters & of EUR and Alternators GBP Sales in Americas $M (1) Non-GAAP metric. See
Slide 14: Full Year 2025 Adjusted EBITDA
(1) FULL YEAR 2025 ADJUSTED EBITDA Volume/Mix Net Tariffs Pricing & COS Corporate & M&A Unfavorable Net Tariff Supplier All Other Newly Acquired Product Mix in Pass-Through Savings, Primarily SEM Business Asia and Localization Driven by an Europe, and Savings, and Increase in Decreased Overhead Empl
Slide 15: FY 2025 Adjusted Sales & Segment Adjusted Operating Income – Fuel Systems
FY 2025 ADJUSTED SALES(1) & SEGMENT ADJUSTED OPERATING INCOME (1) Fuel Systems Adj. Sales $2,108M $6M $13M $(3)M $33M $20M $2,177M Segment Adj. Operating Income & Margin Volume/MIX Volume/Mix Tariffs Pricing & COS FX & Other M&A Unfavorable Sales Sales & AOI Sales Sales Newly Acquired Product Mix in
Slide 16: FY 2025 Net Sales & Segment Adjusted Operating Income – Aftermarket
(1) FY 2025 NET SALES & SEGMENT ADJUSTED OPERATING INCOME Aftermarket Net Sales $1,272M $(8)M $25M $5M $12M $1,306M Segment Adj. Operating Income & Margin Volume/MIX Volume/Mix Tariffs Pricing & COS FX & Other Unfavorable Primarily driven Sales & AOI Sales & AOI Sales Product by Lower OEin Mix Net T
Slide 17: Industry Volume Assumptions
INDUSTRY VOLUME ASSUMPTIONS 2026 Versus 2025 (Expectation By Region) CV Up CV Up Mid to Upper-Single Digits % Mid-Single Digits % Americas EMEA APAC LV Flat to Up Flat to Low-Single Digits % LV Flat to Down Low-Single Digits % LV Down Low-Single Digits % CV Down Low-Single Digits % LV ICE Industry V
Slide 18: 2026 Full Year Outlook
2026 FULL YEAR OUTLOOK Net Sales Adj. Free Cash Flow (1) $3,515 - $3,715M $200 – $240M (1) Adj. EBITDA & Margin Adj. Effective Tax Rate(2) $485 - $525M 13.7% - 14.3% 30% - 34% (1) Forward-looking non-GAAP metric. See slide 2, Non-GAAP Financial Measures, and the Appendix for definition and further i
Slide 19: Appendix
—>PHINIA APPENDIX Delphi = Mi netcoremy | @hartridge
Slide 20: Q4 2025 Net Sales & Segment Adjusted Operating Income – Fuel Systems
(1) Q4 2025 NET SALES & SEGMENT ADJUSTED OPERATING INCOME Fuel Systems Net Sales $519M $11M $6M $(6)M $18M $12M $560M Segment Adj. Operating Income & Margin Volume/MIX Volume/Mix Tariffs Tariffs Pricing & COS FX & Other M&A Unfavorable Sales Sales Net Tariff & AOI Sales Sales Newly ProductSales High
Slide 21: Q4 2025 Net Sales & Segment Adjusted Operating Income – Aftermarket
(1) Q4 2025 NET SALES & SEGMENT ADJUSTED OPERATING INCOME Aftermarket Net Sales $314M $(3)M $9M $2M $7M $329M Segment Adj. Operating Income & Margin Volume/MIX Volume/Mix Tariffs Tariffs Pricing & COS FX & Other Unfavorable Primarily driven Sales Net Tariff & AOI Sales Sales Product by Lower OEin Mi
Slide 22: Historical Quarterly Financial Metrics
HISTORICAL QUARTERLY FINANCIAL METRICS(1) (2) 2025 2024 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Fuel Systems $ 490 $ 556 $ 571 $ 560 $ 2,177 $ 532 $ 545 $ 512 $ 519 $ 2,108 Aftermarket 306 334 337 329 1,306 314 318 326 314 1,272 Adjusted Sales $ 796 $ 890 $ 908 $ 889 $ 3 ,4 8 3 $ 846 $ 863 $ 838 $ 833 $ 3 ,3
Slide 23: Adjusted EBITDA and Margin Reconciliation to US GAAP
ADJUSTED EBITDA AND MARGIN RECONCILIATION TO US GAAP The Company defines adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) as net earnings less interest, taxes, depreciation and amortization, adjusted to exclude the impact of restructuring expense, separation-related c
Slide 24: Adjusted Operating Income and Margin Reconciliation to US GAAP
ADJUSTED OPERATING INCOME AND MARGIN RECONCILIATION TO US GAAP The Company defines adjusted operating income as operating income adjusted to exclude the impact of restructuring expense, separation-related costs, merger and acquisition expense, impairment charges, other net expenses, and other gains
Slide 25: Adjusted Sales Reconciliation to US GAAP
ADJUSTED SALES RECONCILIATION TO US GAAP (1) The Company defines adjusted sales as net sales adjusted to exclude certain agreements with our former parent that were entered into in connection with the spin-off. Management believes that adjusted sales is useful to investors, as it provides improved c
Slide 26: Adjusted Net Earnings Reconciliation to US GAAP
ADJUSTED NET EARNINGS RECONCILIATION TO US GAAP The Company defines adjusted net earnings and adjusted net earnings per diluted share as net earnings and net earnings per share adjusted to exclude: (i) the tax-effected impact of restructuring expense, separation-related costs, merger and acquisition
Slide 27: PHINIA
—>PHINIA Delphi HB neicoremy hartridge