Slide 1: 2024 Fourth-Quarter & Full-Year Earnings Conference Call
2024 Fourth-Quarter & Full-Year Earnings Conference Call February 20, 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 Relations Director, and Corporate Investor Chairman and Senior Chief Financial Vice President Officerand Chief Executive Officer Communications Introduction Business Review Financial Review
Slide 4: 2024 Financial Results
2024 Financial Results Full-Year Financial Results Key Highlights sales End-Market ? Lower demand for EVs and $271 million Demand ICE vehicle programs from prior year? Weak off-highway equipment demand in 2nd half adjusted EBITDA $40 million from prior year Efficiency and ? Conversion on organic sal
Slide 5: Strategy for New Dana
Strategy for New Dana Dana Strategy Financial Commitments Focus on efficiency and generate value 1 Total 2026 cost-reduction target of $300M 1 Focus on core on-highway end markets ? Revised EV commercial strategy ? Divest Off-Highway business overhead Expect signing in early Q2; closing ? Downsizing
Slide 6: 2025 Market Outlook and Backlog
2025 Market Outlook and Backlog 2025 Market Outlook 3-Year Net New Sales Backlog: $650M ($ in millions) Light Vehicle Flat 2025 $150 $150 Commercial 2026 $150 $300 $450 Vehicle <(5%) 2027 $450 $200 $650 Off-Highway © <(5%) 2025 Market ‘25 Backlog Total Dana ~$435M ~$150M ~$285M Sales Impact 6 Weaker
Slide 7: Financial Review
Financial Review
Slide 8: 2024 Q4 and Full-Year Financial Results
2024 Q4 and Full-Year Financial Results ? Lower sales driven by Changes from Prior Year weakening market demand for electric vehicles, commercial ($ in millions, except EPS) Q4 ‘24 Q4 ‘23 Change FY ‘24 FY ‘23 Change trucks, off-highway equipment, and certain light-truck Sales $ 2,335 $ 2,494 $ (159)
Slide 9: 2024 Q4 Sales and Profit Changes
2024 Q4 Sales and Profit Changes Lower organic sales driven by Sales reduced demand in heavy- $2,494M vehicle markets $2,335M $0M ($135M) ($1M) ($15M) ($8M) Efficiency gains drove profit improvement despite organic sales headwinds Cost recoveries for delayed EV programs of ~$15 million Cost savings
Slide 10: 2024 Full-Year Sales and Profit Changes
2024 Full-Year Sales and Profit Changes ? Organic growth impacted by Sales lower end-market demand in $10,555M 2nd half $0M $10,284M ($164M) ($5M) ($49M) ($53M)? Margin benefiting from improved efficiencies and cost savings actions? Translation of foreign currency was a slight headwind to sales? Low
Slide 11: 2024 Full-Year Free Cash Flow
2024 Full-Year Free Cash Flow One-time costs increase due to Changes from Prior Year restructuring and strategic transaction ($ in millions) Higher cash taxes due to timing of payments and 2024 2023 Change jurisdictional mix Adjusted EBITDA $ 885 $ 845 $ 40 Reduced capital spending 1 required to sup
Slide 12: 2025 Full-Year Financial Guide
2025 Full-Year Financial Guide Guidance Ranges ? Guidance includes Off-Highway business for the full year and Change from does not include new tariffs Prior Year ~$9,775M ? Lower sales driven by lower -$510M end-market demand and Sales ±$250M ~1% currency translation ~$975M ? Efficiency improvements
Slide 13: 2025 Full-Year Sales and Profit Changes
2025 Full-Year Sales and Profit Changes Lower end-market demand in Sales all end markets $10,284M Decremental margin benefiting ~$0M ~$9,775M from improved efficiencies ~($285M) ~($195M) ~($30M) Significant cost savings actions driving margin improvement Translation of foreign currency expected to b
Slide 14: 2025 Full-Year Free Cash Flow
2025 Full-Year Free Cash Flow Higher profit, improved working Changes from Prior Year capital efficiency, and lower capital investment ($ in millions) requirements driving improvement over last year 2025 2024 Change Increase in net interest payments due to higher rates Adjusted EBITDA $ ~975 $ 885 $
Slide 15: 2025 Quarterly Phasing
2025 Quarterly Phasing 2025 Sales Q1 Impact on Dana ($ in millions)? Sales down ~$500M ? Cost reductions benefit of $35-$40M? Adjusted EBITDA margin: ~8.0% Full-Year Guidance Q1 Q2 Q3 Q4 2024 2025 ? Sales: ~$9,775M (±$250M) ? Q1 2024: Light Vehicle UAW strike recovery © ? Q3-4 2024: Impact of heavy-
Slide 16: Appendix
© 2025 Dana 16 Appendix
Slide 17: 2024 FY Sales and Profit Change by Segment
2024 FY Sales and Profit Change by Segment Light Vehicle Systems Off-Highway Drive and Motion Systems $4,035M $197M $4,224M $3,185M $2,767M ($6M) ($2M) ($365M) ($5M) ($4M) ($44M) Sales Sales 2023 Organic Cost Savings Currency Commodities 2024 2023 Organic Innorganic Currency Commodities 2024 $99M $5
Slide 18: Segment Profiles
Segment Profiles Light Systems Vehicle Commercial Systems Vehicle Drive and Off Motion Highway Systems Technologies Power Year to Date 12/31/2024 Year to Date 12/31/2024 Year to Date 12/31/2024 Year to Date 12/31/2024 Deere Other 9% 13% PACCAR GM Oshkosh 22% 20% 7% Renault / Nissan AGCO 6% Ford 6% S
Slide 19: Diluted Adjusted EPS
Diluted Adjusted EPS DANA INCORPORATED DANA INCORPORATED Reconciliation of Net Income (Loss) Attributable to the Parent Company to Reconciliation of Net Loss Attributable to the Parent Company to Adjusted Net Income Attributable to the Parent Company and Adjusted Net Income (Loss) Attributable to th
Slide 20: Segment Data
Segment Data DANA INCORPORATED DANA INCORPORATED Segment Sales and Segment EBITDA (Unaudited) Segment Sales and Segment EBITDA For the Three Months Ended December 31, 2024 and 2023 For the Year Ended December 31, 2024 and 2023 Three Months Ended Year Ended (In millions) December 31, (In millions) De
Slide 21: Segment Data Continued
Segment Data Continued DANA INCORPORATED DANA INCORPORATED Reconciliation of Segment and Adjusted EBITDA to Earnings (Loss) Reconciliation of Segment and Adjusted EBITDA to Earnings Before Income Taxes (Unaudited) Before Income Taxes For the Three Months Ended December 31, 2024 and 2023 For the Year
Slide 22: Cash Flow
Cash Flow DANA INCORPORATED Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow (Unaudited) Three Months Ended (In millions) December 31, 2024 2023 Net cash provided by operating activities $ 302 $ 278 Purchases of property, plant and equipment (153) (142) Free cash flow $
Slide 23: 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 24: Value Others | Inspire Innovation | Grow Responsibly | Win Together
Value Others | Inspire Innovation | Grow Responsibly | Win Together