Slide 1: Investor Presentation
JUNE 2025 INVESTOR PRESENTATION Confidential | Copyrights © 2023 2022 2025 Garrett Motion Inc.
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation, as well as statements incorporated by reference herein and related comments by our management, contain for ward-looking statements within the meaning of the U.S. federal securities laws. All statements other than statements of historical fact, including,
Slide 3: Garrett: Global Leader and Innovation Powerhouse
Garrett: Global Leader and Innovation Powerhouse Key Statistics 2024 Revenue Breakdown Technologies Offering By Geography Commercial Vehicle & Industrial Global #1 >50% 2% Turbo Player Win Rate of New 20% Business1 47% Large Free-Float Double Axle VNT Wastegate Emission Reduction $3.5B ~$2B 31% Ligh
Slide 4: Global footprint, local player
Global footprint, local player CORPORATE HEADQUARTERS CORPORATE ROLLE HEADQUARTERS CHEADLE SW ITZERLAND UK PRAGUE CZECH REPUBLIC PLYMOUTH USA BRNO CZECH REPUBLIC SEOUL ANSAN KOREA KOREA TORRANCE WATERFORD IRELAND USA INDIANAPOLIS PRESOV USA SLOVAKIA WUHAN CHINA KODAMA MEXICALI JAPAN THERMAL STUTTGAR
Slide 5: Attractive Aftermarket, CV and Industrial Business, Accounting for >30% of Sales
Attractive Aftermarket, CV and Industrial Business, Accounting for >30% of Sales and Even More on Profitability Revenue by Segment (2024) Non-PV Exposure in Focus Provides parts & services ✓ Stable predominantly for Aftermarket commercial vehicle Earnings customers Stream Industrial ✓ Long Lifespan
Slide 6: Leader in Turbo, a More Resilient Industry than ICE
Leader in Turbo, a More Resilient Industry than ICE Turbo tech: longer tail than ICE Garrett leadership expansion Long term visibility on booked sales Light Vehicles turbo penetration on Internal Combustion Engines (%)1 • #1 Turbo2 Industry Leader • >80% cumulative OEM sales already awarded 55.4% 56
Slide 7: Continuing to Expand Our Turbo Portfolio
Continuing to Expand Our Turbo Portfolio Strong demand for our largest turbocharger for 4X Large Turbochargers Additional wins across Passenger and Commercial Vehicle marine & auxiliary power applications: • Delivered first marine prototype, start of production Continuing to win new business for in
Slide 8: Strong Interest Across Portfolio Driving Momentum
Strong Interest Across Portfolio Driving Momentum Fuel Cell Compressor High Speed E-Powertrain E-Cooling Compressor First Generation launched in 2016, on the Honda Clarity x5-20+ x1-3 x2-3 ASP multiplier vs. Turbo Light ASP multiplier vs. Turbo Light ASP multiplier vs. Turbo Light Vehicle/Commercial
Slide 9: Garrett's Robust & Differentiated Zero Emission Pipeline
Garrett’s Robust & Differentiated Zero Emission Pipeline Garrett Technology Advantage… … Delivering High Customer Value Fuel Cell ✓ Reducing total cost of ownership • Unique high-speed motor & controls electronics Compressor ✓ Increasing vehicle range • Best in class aerodynamics, including turbine
Slide 10: Successful Innovation Shift to Electrification Technologies
Successful Innovation Shift to Electrification Technologies Turbomachines for Air High precision design & assembly, high speed Compression Working at temperatures up to 1,050°C balancing, and ability to operate in harsh environments across multiple use cases Operating with clearances ~microns High-S
Slide 11: Strong Financial Framework and Cash Flow Powers Shareholder Returns
Strong Financial Framework and Cash Flow Powers Shareholder Returns and Supports De-Levering Our Target Financial Framework Delivering Value to Shareholders Prudent Debt Management Adj. EBIT Margin1 > 13% Targeting distribution of at least 75% De-levered materially since conversion of Series A Prefe
Slide 12: Track Record of Attractive Profitability and Cash Flow Generation
Track Record of Attractive Profitability and Cash Flow Generation Garrett financial framework Leading to solid profitability and cash flow resilience across cycles Adj. EBIT1 $M Adj. EBIT1 Adj. EBIT margin 1 High product profitability driven by sustainable $531 technology differentiation $508 $475 $
Slide 13: We Remain Focused on Value Creation
We Remain Focused on Value Creation Industry Continue to be #1 Turbo player1 and leader in a technology-driven industry; still investing Leadership in new Turbo technologies especially for hybrids; expanding into industrial applications Proven performance through business cycles with target of ~60%
Slide 14: Appendix
rrett 2ab ADVANCING MOTION
Slide 15: Reconciliation of Net Income to Adjusted EBIT, Adjusted EBITDA and Consolidated EBITDA
Reconciliation of Net Income to Adjusted EBIT, Adjusted EBITDA and Consolidated EBITDA ($ in millions) Q1 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Net income $62 $282 $261 $390 $495 $80 Interest expense, net of interest income 29 153 152 6 82 76 Tax expense 23 61 86 106 43 39 Repositioning costs
Slide 16: Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow
Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow and Related Ratios ($ in millions) Q1 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Net cash provided by (used for) operating activities $56 $408 $465 $375 ($310) $25 Expenditures for property, plant and equipment (26) (91) (83) (
Slide 17: Reconciliation of Long-Term Debt to Net Debt and Related Ratios
Reconciliation of Long-Term Debt to Net Debt and Related Ratios ($ in millions) Q1 2025 FY 2024 Cash and cash equivalents $130 $125 Undrawn revolver credit facility $630 570 Total liquidity $760 $695 Long-term term debt $1,462 $1,464 Short-term term debt 7 7 Deferred financing costs 25 22 Bank overd
Slide 18: Reconciliation of Constant Currency Sales % Change
Reconciliation of Constant Currency Sales % Change Q1 2025 Q1 2024 Reported sales % change (4%) (6%) Foreign currency translation (2%) (1%) Constant currency sales % change (2%) (5%) We define constant currency sales growth as the year-over-year change in reported sales relative to the comparable pe
Slide 19: Metrics vs. peers – EBIT, EBITDA & EV / Adj. EBIT
Metrics vs. peers – EBIT, EBITDA & EV / Adj. EBIT 2024A Adj. EBIT Margin 2024A Adj. EBITDA Margin EV / 2024A Adj. EBIT 14.6% 17.2% 18.2x 15.4% 12.2% 14.4% 14.0% 13.3% 10.1% 11.3x 7.8% 8.0% 8.9x 8.1x 6.7x Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy
Slide 20: Metrics vs. peers – EBIT and EBITDA conversion; FCF yield
Metrics vs. peers – EBIT and EBITDA conversion; FCF yield 2024A FCF / EBITDA 2024A FCF / EBIT 2024A FCF Yield 63.6% 74.7% 16% 53% 62% 60.8% 62.5% 11.5% 35.2% 35.2% 10.8% 40.7% 17.6% 4.8% 4.1% Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy focused focu
Slide 21: Metrics vs. peers – EBIT and EBITDA leverage
Metrics vs. peers – EBIT and EBITDA leverage Gross leverage (EBITDA) Net leverage (EBITDA) FCF / Net leverage 42.3 2.7x 2.1x 2.2x 2.4x 2.1x 2.1x 1.5x 23% 22.1% 22.1% 1.2x 1.4x 0.2x 6.9% Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy Garrett PV - CV - Broader Proxy focused focused In
Slide 22: Industry Transition Driving Greater Content & Higher ASP
Industry Transition Driving Greater Content & Higher ASP Core Tech Advanced Turbo Technologies New Zero Emission Technologies Waste Gate (WG) Variable Nozzle E-Turbo E-Cooling Fuel Cell E-Powertrain technology Technology (VNT) Compressor Compressor Light Vehicles $100-400 x1.2-1.3 x2 (LV) Average Se
Slide 23: High Speed E-Powertrain: Higher Power, Smaller Package
High Speed E-Powertrain: Higher Power, Smaller Package Designed to re-set the benchmark… …via Best-in-Class Power Density Existing IPM Motor E-Powertrain True high-speed Technology Leading 35krpm US BEV player Gearbox Gear ratio Space freed up 24:1 by Garrett Inverter 800V >15kHz Garrett High 250kW
Slide 24: E-Cooling Compressor: Step Change in Cooling & Heating Power
E-Cooling Compressor: Step Change in Cooling & Heating Power A new refrigerant compressor technology… … bringing breakthrough in performance Cooling / Heating Power (kW) Industry standard 30 25 GTX compressor 30 mm wheel dia 20 +70% Similar size & +160% weight (6kg) 15 Scroll compressor Volumetric s
Slide 25: Fuel Cell Compressor (FCC): Efficient and Durable
Fuel Cell Compressor (FCC): Efficient and Durable High-Speed Air Compressor System... …Bringing Best-in-Class Efficiency and Durability Foil Bearing 400V/800V To drive 100 km a Fuel Cell Electric Vehicle consumes Stator …1kg of Hydrogen …60 m of air Rotor Bearing Cooling 3 Bearing Housing Controller
Slide 26: Founded on Unique Set of Capabilities & IP Difficult to Acquire
Founded on Unique Set of Capabilities & IP Difficult to Acquire And more: 65y exp. with Unique ultra High switching Unique high- High speed air compression high-speed freq. power speed sensor- and oil-less turbomachine electric motor electronics less controls bearings Industry status Why so difficul
Slide 27: Investors Media
Investors Media Cyril Grandjean Amanda Jones +1 734 392 55 04 +41 79 601 07 87 InvestorRelations@garrettmotion.com Amanda.Jones@garrettmotion.com Confidential | Copyrights © 2023 2022 2025 Garrett Motion Inc.