Slide 1: Second Quarter 2026 Financial Results
Q@@ LEAR Second Quarter 2026 Financial Results Ray Scott, President and CEO Jason Cardew, Senior Vice President and CFO
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated financial results and liquidity. The words “may,” “designed to,” “outlook,” “b
Slide 3: Agenda
Agenda BUSINESS UPDATE Ray Scott, President and CEO FINANCIAL REVIEW Jason Cardew, Senior Vice President and CFO CONCLUDING REMARKS Ray Scott, President and CEO
Slide 4: Business Update
Business Update Ray Scott President and CEO
Slide 5: Financial Overview
FinanciahOverview Second Quarter 2026 CORE OPERATING EARNINGS ADJUSTED EARNINGS PER SHARE OPERATING CASH FLOW fo2 2026 | $6.2B $313M $4.28 $461M }Q22025 | $6.0B
Slide 6: Extending Seating global leadership
Extending Seating global leadership Expanding E-Systems margins through focused portfolio ¥ Secured %$2.9 billion of net business awards year-to-date across both Seating and E-Systems, based on average annual revenue ¥ Significant new and conquest awards with Audi for complete seats, ComfortFlex™ an
Slide 7: 2026 Key Growth and Margin Metrics Scorecard
2026 Key Growth ind Mars nt Metrics scffecard Growth Metric i Conquest Wins - JIT Conquest Wins - Wire Thermal Comfort / Modularity Awards Awards with Chinese Automakers Q2 Status Margin Improvement YTD Status 2026 Target Metric IDEA / Automation Significant awards with Audi in Europe Savings #$35 m
Slide 8: IDEA by Lear in Action
IDE. ar in Action: Advanced Manufacturing Integration Cc and rPlant Automation Pilot V fol ComfortFlex Automated Automated by:Lear™ and Wire B FlexAir® Seat ComfortMax Taping — Steneshield Finesse and Seat by Lear™ ou Beck Line aw Automated Surface ASI hemes Material Manufacturing Automated “oe 14GB
Slide 9: Financial Review
Financial Review Jason Cardew Senior Vice President and CFO
Slide 10: Global Vehicle Production and Currency
Global Vehicle Production and Currency Second Quarter 2026 INDUSTRY PRODUCTION (units in millions) GLOBAL NORTH AMERICA EUROPE AND AFRICA CHINA Q2 2025 22.6 4.0 4.6 7.5 Q2 2026 Standard FLAT YOY FLAT YOY DOWN 2% YOY DOWN 4% YOY Calendar Lear Sales-Weighted Basis DOWN <1% YOY KEY CURRENCIES Q2 2025 Q
Slide 11: Key Financials
Key Financials Second Quarter 2026 ($ in millions, except per share amounts) 2026 2025 YEAR-OVER-YEAR DRIVERS Commercial recoveries, changes in foreign exchange rates and Net Sales $6,209 $6,030 sales backlog, partially offset by lower volume on Lear platforms and the impact of tariff refunds and cr
Slide 12: Seating Sales and Margin Drivers
Seating Sales and Margin Drivers Second Quarter 2026 SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) $71 $4,624 $77 $107 40 bps 6.7% $4,474 $(22) 6.7% Stes $312 $(83) (40) bps cies 22025 Volume/ Mix Backlog FX Tarif Other «2.2026 @22025 —Volume/ Backlog FK Net Q2 2026 Recovery Mix
Slide 13: E-Systems Sales and Margin Drivers
E-Systems Sales and Margin Drivers Second Quarter 2026 SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) $104 $1,585 $1,557 155 bps 5.8% $29 tl] $(24) 4.9% $(25) $(25) 15) b $76 (15) bps (25) bps 0 bps (25) bps Q2 2025 = Volume/ Mix Backlog ‘Wind-Down 2g Tariff Commodities/ Q2 2026
Slide 14: Global Vehicle Production and Currency: 2026 Outlook
Global Vehicle Production and Currency 2026 Outlook INDUSTRY PRODUCTION (units in millions) NORTH AMERICA EUROPE AND AFRICA CHINA FY 2025 91.8 15.3 17.4 31.9 FY 2026 DOWN 2% YOY DOWN 1% YOY DOWN 1% YOY DOWN 5% YOY Prior Feb Outlook: Down <1% Prior Feb Outlook: Down 2% Prior Feb Outlook: Down <1% Pri
Slide 15: 2026 Full Year Outlook
2026 Full Year Outlook Net Sales $23,540 - $24,010 million Core Operating Earnings $1,080 - $1,200 million Adjusted EBITDA $1,700 - $1,820 million Interest Expense =$105 million Effective Tax Rate 19% - 21% Adjusted Net Income $675 - $775 million Restructuring Costs $175 million Operating Cash Flow
Slide 16: Total Company 2026 February Outlook to July Outlook
Total Company 2026 February Outlook to July Outlook - at Mid-Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) $95 $70 §i05) 740) 1988 $155 $23,775 soe $23,610 4.7% (OEE $(425) $1,115 February Volume/ Mac Backlog Wind-Down FX Commodities Tariff Other. «July February Outlook Vo
Slide 17: Total Company H1 2026 Actuals to H2 2026 Outlook
Total Company H1 2026 Actuals to H2 2026 Outlook - at Mid-Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) $12,032 $400 $(200) $(964) 12026 Volume/ Mix Backlog Wind-Down Actuals Business $239 $11,743 $191 $(55) x Tariff Other H2- 2026 Recovery Outook (Mid-Point) ($ in millions) 5.1% 55 bps (
Slide 18: Capital Allocation Strategy
Capital Allocation Strategy Strong Balance Sheet and Ample Liquidity + Low cost of bonds averaging less than 4% with a weighted average life of #11 years DEBT MATURITIES * Total available liquidity of +$3.0 billion, including $2.0 billion available ($ in millions) ; {iavailable Revolver J Bonds. X T
Slide 19: Concluding Remarks
Concluding Remarks Ray Scott President and CEO
Slide 20: Extending our global leadership
LEAR Extending our global leadership in Seating ary: The informati Expanding margins through our focused portfolio in E-Systems Growing our capabilities in operational excellence through IDEA by Lear™ Supporting our sustainable value creation with disciplined capital allocation strategy 20
Slide 21: Appendix
Appendix
Slide 22: Growth Over Market
Growth Over Market Second Quarter 2026 FLAT | NorTH AMERICA 5% EUROPE (6)% CHINA + Seating: Unfavorable platform mix, partially offset by backlog + Seating: Favorable + Seating: Favorable platform mix and backlog platform mix and backlog > Es Pe + E-Systems: Unfavorable + E-Systems: Unfavorable plat
Slide 23: Seating 2026 February Outlook to July Outlook
Seating 2026 February Outlook to July Outlook — at Mid-Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) 75 $170 “i $90 $17,925 — 10 bps 0 bps $17,750 “ acco $1,155 February Volume / Mox FX Tariff Recovery Other July February Outlook Volume / Mix Other July Outlook Outlook Out
Slide 24: E-Systems 2026 February Outlook to July Outlook
E-Systems 2026 February Outlook to July Outlook — at Mid- Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) (in millions) $70 sao $35—=—«$20 mie 15 bps $5,860 $25 $65 $5,850 5.0% $(265) $295 February Volume/ Mix Backlog Wind-Down Fx Commodities Tariff Other July February Outlook Volume / Mix
Slide 25: Seating H1 2026 to H2 2026 Outlook
Seating H1 2026 to H2 2026 Outlook —- at Mid-Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) $9,029 6.8% $124 $8,896 40 bps 6.4% $400 = $616 $(39) (80) bps $(703) 12026 Volume/Mx Backlog Fx Tariff Other H2 2026 H1 2026 Actuals Volume / Mix / Backlog Net Performance / H2 2026
Slide 26: E-Systems H1 2026 to H2 2026 Outlook
E-Systems H1 2026 to H2 2026 Outlook — at Mid-Point SALES ADJUSTED EARNINGS AND MARGIN ($ in millions) ($ in millions) $3,004 5.9% $106 $113 $2,846 $178 $(261) $(100) $(16) 65 bps 4.5% (205) bps H1 2026 Volume / Ma Wind-Down x Tarif Other H2 2026 H1 2026 Aduals Volume / Mix / Net Performance / H2 20
Slide 27: Non-GAAP
Non-GAAP In addition to the results reported in accordance with GAAP included throughout the presentation, the Company has provided information regarding “pretax income before equity income, interest, other expense, restructuring costs and other special items” (core operating earnings or adjusted se
Slide 28: Non-GAAP
Non-GAAP Qear Core Operating Earnings and Adjusted Margins ($ in millions) Net sales Net income attributable to Lear Interest expense Other expense, net Income taxes Equity in net income of affiliates Net income attributable to noncontrolling interests Restructuring costs and other special items - C
Slide 29: Non-GAAP
Non-GAAP Qear Lear Proprietary: The information con Adjusted Net Income and Earnings Per Share (In millions, except per share amounts) Net income attributable to Lear Costs related to restructuring actions Term loan refinancing Recoveries related to Fisker, Inc. Impairments (recoveries) related to R
Slide 30: Non-GAAP
Qear Lear Propristary: 7 Non-GAAP Adjusted Segment Earnings and Margins ($ in millions) Net sales Segment earnings Restructuring costs and other special items - Costs related to restructuring actions Recoveries related to Fisker, Inc. Impairments (recoveries) related to Russian operations, net Other
Slide 31: Non-GAAP
Non-GAAP Net cash provided by operating activities Capital expenditures Free cash flow Second Quarter 2025 $ 296.2 (125.4) $ 170.8 2026 $ 460.5 (172.7) $287.8
Slide 32: Non-GAAP
Non-GAAP (in millions, except per share amounts) Pretax Income Before Equity Income, Interest and Other Expense Equity Income Pretax Income Before Interest and Other Expense Interest Expense Other Expense, Net Income Before Taxes Income Taxes Net Income Noncontrolling Interests Net Income Attributab