Dana Incorporated · NYSE:DAN
Dana — Investor Presentation (January 2026)
21 slides from Dana's investor presentation, Jan 21, 2026
Slide 1: 2026 Market and Backlog
2026 Market and Backlog January 21, 2026
Slide 2: Safe Harbor Statement
© 2026 Dana 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
Slide 3: Agenda
© 2026 Dana Agenda Craig Barber R. Bruce McDonald Byron Foster Brian Pour Timothy Kraus Senior Director, Investor Chairman and Senior Vice President and Senior Vice President and Senior Vice President and Relations and Corporate President, Light Vehicle President, Commercial Chief Financial Officer
Slide 4: Dana Strategy Commitment Achieved
© 2026 Dana Dana Strategy Commitment Achieved January 2025 Commitment 2025 Achievements Total 2026 cost-reduction target of $325M Focus on efficiency and generate value § Revised EV commercial strategy Focus on core on-highway end markets § Downsizing corporate overhead structure § Divest Off-Highwa
Slide 5: Business Overview
© 2026 Dana Business Overview Sale of Off-Highway business completed § $2.7 billion in enterprise value Capital return accelerating § Repurchased 34 million shares in 2025, or 23% of shares outstanding § Returned $704 million to shareholders – $650 million share repurchases – $54 million in dividend
Slide 6: 2025 Preliminary Sales
© 2026 Dana 2025 Preliminary Sales 9% Region Segment 30% 11% North America Light Vehicle ~$7.5B ~$7.5B Europe Commercial Vehicle 20% 60% 70% Asia Pacific South America Customer Ford 12% 24% Stellantis Channel 32% Toyota Volkswagen 21% Light Vehicle OE PACCAR ~$7.5B ~$7.5B 2% Renault / Nissan Commerc
Slide 7: 2026 Market Outlook and Backlog
© 2026 Dana 2026 Market Outlook and Backlog 2026 Market Outlook 3-Year Net New Sales Backlog: $750M ($ in millions) Light Trucks 2026 $200 $200 Flat 2027 $200 $300 $500 Commercial 2028 $500 $250 $750 Vehicle Flat Market '26 Backlog Total Volume/Mix (~$275M) ~$200M (~$75M) 2026 Sales Impact 7 Weaker
Slide 8: 2026 Market Demand Outlook
© 2026 Dana 2026 Market Demand Outlook Legend: 9% 20% 11% 100% 60% YoY ∆ >+10% 3%-10% ~Flat (3%)-(10%) <(10%) SALES CORE NORTH EUROPE & SOUTH ASIA DANA MARKET DISTRIBUTION SEGMENTS AMERICA AFRICA AMERICA PACIFIC IMPACT Full-Frame 70% 3rd-Party Reference: Light Truck Medium Duty 30% 3rd-Party Referen
Slide 9: Light Vehicle Systems: 2025 Preliminary Sales
© 2026 Dana Light Vehicle Systems: 2025 Preliminary Sales Customer Region Product 3% 12% 14% 21% 4% 44% 4% 14% ~$5.2B ~$5.2B ~$5.2B 5% 8% 70% 83% 18% Ford North America Driveline Stellantis N.V. Europe Sealing / Thermal Toyota South America Other Renault/Nissan Asia Pacific Tata Other 9
Slide 10: Key Light Vehicle Systems Customers
© 2026 Dana Key Light Vehicle Systems Customers Driveline Products § Super Duty § Econoline§ Bronco Sport § Ranger § Everest § Transit§ Maverick § MD Chassis§ Bronco § SRT Ram § Wrangler§ Gladiator§ Ram 1500 § Rouge § Navara§ Murano § Frontier § Tundra§ Sequoia§ Tacoma§ Hilux § Defender§ Range Rover
Slide 11: 2026 Truck of the Year: Ford Maverick
© 2026 Dana 2026 Truck of the Year: Ford Maverick Lobo Disconnecting AWD Rear Drive Unit and Sealing Solutions 11
Slide 12: Light Vehicle Systems: New Business Backlog
© 2026 Dana Light Vehicle Systems: New Business Backlog Next Gen Platforms Expansion / Content Super-Duty Jeep Wrangler (MY ‘26) Bronco Sport New Global Programs W1 Jaguar Master Defender Sport New Sealing & Thermal Programs 12 HD Truck / Duramax Range Rover Sport Dodge/Ram Hellcat Next-Gen V8
Slide 13: Commercial Vehicle Systems: 2025 Preliminary Sales
© 2026 Dana Commercial Vehicle Systems: 2025 Preliminary Sales Customer Region North American Market 4% 8% 7% 10% 20% 39% 41% 43% ~$2.3B ~$2.3B ~$900M 51% 12% 16% 33% 16% PACCAR North America Heavy Duty Volkswagen (Traton) Europe Medium Duty Ab Volvo South America Aftermarket /Other Daimler Asia Pac
Slide 14: Commercial Vehicle Systems: New Business Backlog
© 2026 Dana Commercial Vehicle Systems: New Business Backlog Share Gains at Key Customers New Medium-Duty and Bus Programs Aftermarket 14
Slide 15: Financial Review
© 2026 Dana Financial Review 15
Slide 16: 2025 Preliminary Financial Results
© 2026 Dana 2025 Preliminary Financial Results Fourth-Quarter Preliminary Results Full-Year Preliminary Results sales sales High-End of guidance range adjusted EBITDA adjusted EBITDA High-End of guidance range margin margin High-End of guidance range adjusted free cash flow adjusted free cash flow H
Slide 17: 2026 Preliminary Financial Guide
© 2026 Dana 2026 Preliminary Financial Guide 2026 Preliminary Guidance Ranges § Sales expected to be consistent with last year as increased backlog and recoveries offset lower market demand Change From Guidance 2025 § Adjusted EBITDA expectations increased by $200 million, driven by cost savings, op
Slide 18: Strong Balance Sheet
© 2026 Dana Strong Balance Sheet 2025 Debt Capital Current Debt Capital ($ in millions) ($ in millions) $10 Less Than 1x Net Leverage through 2026 Reduced $164 $152 $489 $173 Debt $489 ~1.9 Billion $400 $400 $390 $218 $225 $218 $198 $198 $177 $177 2025 2026 2027 2028 2029 2030 2031 2032 2025 2026 20
Slide 19: Investment Highlights
© 2026 Dana Investment Highlights Delivering Commitments üRealization of aggressive cost reduction targets üSale of Off-Highway business § Shareholder value creation § Strengthen balance sheet § Significant capital return to shareholders New Dana positioned to win üStrong backlog supports top-line g
Slide 20: Save the Date: 2026 Capital Markets Day
© 2026 Dana SAVE THE DATE 2026 Capital Markets Day MARCH 25, 2026 NEW YORK CITY 20
Slide 21: Non-GAAP Financial Information
© 2026 Dana 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 postretiremen