Slide 1: Third-Quarter Earnings Conference Call
2025 Third-Quarter Earnings Conference Call October 29, 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 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 © 2025 Dana Introduction Business Review Financial Review 3
Slide 4: Third-Quarter Highlights
Third-Quarter Highlights Pending sale of Off-Highway business on track Expected to close late in the fourth quarter Capital return proceeding as planned Repurchased ~9.5 million shares in Q3, or ~7% of shares outstanding, returning $189 million to shareholders Expecting 2025 share repurchases
Slide 5: Financial Review
Financial Review © 2025 Dana 5
Slide 6: Q3 Financial Results
2025 Q3 Financial Results Results are presented excluding the Off-Highway Changes from Prior Year business, which is classified as ($ in millions) discontinued operations Sales benefited from pricing, recoveries and currency, Q3 ‘25 Q3 ‘24 Change partially offset by lower volumes Sales $ 1,917 $
Slide 7: Q3 Sales and Profit Changes
2025 Q3 Sales and Profit Changes Results are presented Sales excluding the Off-Highway $2,476M business, which is classified as discontinued operations $1,897M $49M $21M $8M $1,917M $8M ($579M) $0M Reduced YoY volumes largely ($66M) driven by lower demand in commercial-vehicle market Commercia
Slide 8: Q3 Free Cash Flow
2025 Q3 Free Cash Flow Free cash flow includes cash generated from both continuing Changes from Prior Year and discontinued operations, to ($ in millions) align with deal structure One-time costs increased due 2025 2024 Change to restructuring and strategic transactions Adjusted EBITDA Cont. Ops
Slide 9: Full-Year Financial Guide
2025 Full-Year Financial Guide 2025 Revised Guidance Ranges Sales and adjusted EBITDA guidance excludes the discontinued Off-Highway Continuing Operations Change From operations for the full year Guidance Prior Guidance Free cash flow includes cash generated from both continuing and discontinued
Slide 10: Full-Year Sales and Profit Changes
2025 Full-Year Sales and Profit Changes Sales and adjusted EBITDA Sales guidance excludes the $10,284M discontinued Off-Highway operations for the full year ~$7,733M ~$150M ~$25M ~$15M ~$7,400M ~$80M Profit impact of lower volume ~($2,551M) ~$0M ~($600M) expected to be more than offset by operat
Slide 11: Full-Year Free Cash Flow
2025 Full-Year Free Cash Flow Free cash flow includes cash generated from both continuing Changes from Prior Year and discontinued operations, to ($ in millions) align with deal structure Higher profit, improved working 2025 2024 Change capital efficiency, and lower capital investment Adjusted E
Slide 12: 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%, consistent with Q4 2025 exit margin Cost savings plan: +100 bps Accretive new business: +60 bps Eliminated stranded costs: +50 bps
Slide 13: Appendix
© 2025 Dana 13 Appendix
Slide 14: Q3 Sales and Profit Change by Segment
2025 Q3 Sales and Profit Change by Segment $1,285M $6M $6M $42M $8M $6M $1,353M $0M Sales Light Vehicle Systems $35M $1M $0M $1M $126M $26M $82M Adjusted EBITDA ($19M) 6.4% 5.9% 9.3% 2024 Vol/Mix Performance Cost Savings Tariff Currency Commodities 2025 $612M $2M $7M $13M $2M $564M $0M ($72M) Sales
Slide 15: Segment Profiles
Segment Profiles Light Vehicle Commercial Vehicle Drive Systems Drive and Motion Systems Year to Date 9/30/2025 Year to Date 9/30/2025 Other PACCAR CUSTOMER SALES 21% 16% Ford 45% Tata Traton 5% Other 12% Renault / 51% Nissan 5% Volvo Toyota 10% 7% Daimler Stellantis* Ford 7% 17% 4% * Includes sales
Slide 16: 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 September 30, 2025 and 2024 For the Nine Months Ended September 30, 2025 and 2024 Three Months Ended Nine Months Ended (In millions)
Slide 17: 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 Nine Months Ended September 30,
Slide 18: Cash Flow
Cash Flow DANA INCORPORATED Reconciliation of Net Cash Provided By Operating Activities to Adjusted Free Cash Flow (Unaudited) Three Months Ended (In millions) September 30, 2025 2024 Net cash provided by operating activities $ 111 $ 35 Purchases of property, plant and equipment - Continuing operati
Slide 19: 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 20: Value Others | Inspire Innovation | Grow Responsibly | Win Together
Value Others | Inspire Innovation | Grow Responsibly | Win Together