Slide 1: 2026 First-Quarter Conference Call
2026 First-Quarter Conference Call April 29, 2026
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 Craig Barber R. Bruce McDonald Byron Foster Timothy Kraus Senior Director, Investor Chairman and Incoming Chief Executive Senior Vice President and Relations and Corporate Chief Executive Officer Officer Chief Financial Officer Communications © 2026 Dana 3
Slide 4: Business Overview
Business Overview First-quarter results in-line with expectations Adj. EBITDA margin of 9.2%; 400 basis points higher than Q1 2025 Share repurchases Q1: 4.4 million shares, $125 million; on track for ~$300 million target in 2026 Program to-date: $775 million; on track for ~$2 billion target th
Slide 5: 2026 Capital Markets Day
2026 Capital Markets Day Traditional Product Growth Aftermarket Growth Applied Technologies 2030 Financial Targets Driving Multiple Expansion Growth Sales Adj. EBITDA Margin Adj. FCF Margin ~$10 14%-15% ~6% © 2026 Dana Manufacturing Excellence billion ~33% ~400 bps ~200 bps vs. midpoint of 2026 Guid
Slide 6: New Business Award: Stellantis RAM Dakota Program
New Business Award: Stellantis RAM Dakota Program BREAKING NEWS: N E W LY ~$250M AWA R D E D Annual Sales Early 2028 Start of Dana Production Dana Value Proposition © 2026 Dana Strong customer relationship Customer desire for speed to market – leveraged Jeep New Gladiator rear axle Vehicle Uti
Slide 7: Market Outlook and Backlog
2026 Market Outlook and Backlog U P D AT E D 2026 Market Outlook 3-Year Net New Sales Backlog: $750M $950M ($ in millions) Light Trucks 2026 $200 $200 Flat 2027 $200 $300 $500 Commercial 2028 $500 $450 $950 Vehicle © 2026 Dana Flat 7 Early Signs of Market Improvement; Incremental New Business Win St
Slide 8: The New Dana
The New Dana Prior Dana Dana 2030 Diversified powertrain supplier Focused on light and commercial vehicles supporting on- and off-highway customers Lean cost structure Improving business performance 2026 adjusted EBITDA margin of ~10.6% driven by cost reduction initiatives Growth focused
Slide 9: Financial Review
Financial Review © 2026 Dana 9
Slide 10: Q1 Sales and Profit Changes
2026 Q1 Sales and Profit Changes Lower end-market demand Sales drove lower volume /mix $64M $6M $1,868M Improved product mix, cost performance, and operating $48M efficiency efforts drove $1,781M significant margin expansion $2M $0M ($33M) Tariff benefit due to timing of recoveries benefited s
Slide 11: Q1 Adjusted Free Cash Flow
2026 Q1 Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from Changes from Prior Year both continuing and ($ in millions) discontinued operations, to align with Off-Highway deal structure 2026 2025 Change One-time costs were Adjusted EBITDA Cont. Ops $ 171 $ 93 $ 7
Slide 12: 2026 Financial Guide
2026 Financial Guide 2026 Guidance Ranges Sales expected to be higher than last year, as increased backlog and recoveries and Full-Year currency offset lower market Guidance Outlook demand and product mix Adjusted EBITDA expected to increase by $200 million, driven Sales ~$7.5B ±$200M by cost sa
Slide 13: Full-Year Sales and Profit Changes
2026 Full-Year Sales and Profit Changes Favorable mix on slightly lower Sales volumes driven by sales backlog yielding better $7,500M ~$15M ~$7,500M ~$60M decremental margins ~$50M Operating efficiency actions expected to deliver additional (~$95M) ~$0M margin growth (~$30M) Remaining cost sav
Slide 14: Full-Year Adjusted Free Cash Flow
2026 Full-Year Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from Changes from Prior Year both continuing and ($ in millions) discontinued operations, to align with deal structure 2026 2025 Change Lower one-time costs, net interest, taxes, and working Adjusted E
Slide 15: Organic Sales Growth of $2.5 Billion: Update
Organic Sales Growth of $2.5 Billion: Update 2025 to 2030 Sales Growth New business win for Dakota small pick-up secured $200 million in 2028 backlog and ~$50 million in additional backlog +6% CAGR ~$400M ~$10,000M Delivering ~$2.5 billion of ~$200M organic sales growth by 2030, ~$400M a ~6% CAG
Slide 16: The Five Elements of Dana 2030
The Five Elements of Dana 2030 Will Drive: Above-market growth supported by new business wins – Sales: 6% CAGR Traditional – Adj. EBITDA: 17% CAGR Product Growth – FCF: 11% CAGR Fundamental improvements in operations for top-quartile margins Aftermarket Accelerated free cash flow generation Gr
Slide 17: Appendix
© 2026 Dana 17 Appendix
Slide 18: Q1 Sales and Profit Change by Segment
2026 Q1 Sales and Profit Change by Segment $29M $4M $1,269M $36M $1,213M Sales ($9M) ($4M) $0M Light Vehicle Systems $31M $9M $5M $0M $1M $112M ($2M) Adjusted $68M EBITDA 5.6% 8.8/% 2025 Vol/Mix Performance* Cost Savings Tariff Currency Commodities 2026 $35M $2M $599M $568M $12M Sales $6M $0M ($24M)
Slide 19: Segment Sales Profiles
Segment Sales Profiles Light Vehicle Systems Commercial Vehicle Systems YTD 3/31/2026 YTD 3/31/2026 13% 15% 9% 19% 3% 20% 37% 41% 12% 6% Customers 16% Regions Customers Regions 6% 53% 68% 11% 8% 6% 20% 3% 34% Ford North America PACCAR North America © 2026 Dana Stellantis N.V. Europe Volkswagen (Trat
Slide 20: 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