Slide 1: 2026 Second-Quarter Conference Call
2026 Second-Quarter Conference Call August 6, 2026
Slide 2: Disclaimers
Disclaimers Cautionary Notes on Forward-Looking Statements Note Regarding Use of Non-GAAP Financial Measures This communication includes “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the “Securities In
Slide 3: Agenda
Agenda Craig Barber Byron Foster Timothy Kraus Senior Director, Investor Chief Executive Officer Executive Vice President Relations and Corporate and Chief Financial Officer Communications © 2026 Dana 3
Slide 4: Business Overview
Business Overview Strong second-quarter results driven by focused execution Sales of $2 billion Adj. EBITDA of $207 million yielding margin of 10.3%, 270 basis points higher than Q2 2025 Achieved $19 million cost savings in second quarter Year-to-date: $54 million of savings realized On trac
Slide 5: Customer Awards
Customer Awards DAIMLER TRUCK @) INTERNATIONAL MASTERS OF 2026 20260 y DIAMOND Supplier SUPPLIER of the Year TET ae AWARDS
Slide 6: Dana 2030: Aftermarket Growth Update
Dana 2030: Aftermarket Growth Update ~$200M ~$400M ~$10,000M ~$350M ~$400M ~$950M ~$200M $7,500M 2025 to 2030 Sales Growth 2025A 2028 Additional CV Market Backlog Backlog Traditional Aftermarket Applied Product Technologies Retail Distribution © 2026 Dana Multi-DC Expansion SKU Expansion New Busines
Slide 7: Secured Partnership with North America's Largest Heavy-Duty Truck Parts Program Group
Secured Partnership with North America’s Largest Heavy-Duty Truck Parts Program Group 875+ 430+ 17,350+ Across the United States, Canada, Mexico, and Parts / Service Part Locations Service Locations Latin America Professionals © 2026 Dana 7 VIPAR Agreement Executed: Expands Dana’s Distribution Reach
Slide 8: Dana 2030: Applied Technologies Growth Update
Dana 2030: Applied Technologies Growth Update ~$200M ~$400M ~$10,000M ~$350M ~$400M ~$950M ~$200M $7,500M 2025 to 2030 Sales Growth 2025A 2028 Additional CV Market Backlog Backlog Traditional Aftermarket Applied Product Technologies Defense © 2026 Dana Front and Rear Axles Central Tire Inflation Sys
Slide 9: Eaton Mobility Transaction Update
Eaton Mobility Transaction Update Announcing Important Transaction Enhancements 1. Dana will restart buybacks immediately; agreement with Eaton to return capital to shareholders until closing of the transaction – Expecting to repurchase additional ~$200M in shares before December 31, 2026 – Cash pay
Slide 10: Eaton Mobility Transaction Update: Key Transaction Elements
Eaton Mobility Transaction Update Key Transaction Elements Highly strategic combination – Brings together two companies with complementary product portfolios – Creates a focused, scaled powertrain leader, accelerating Dana 2030 plan Expect to achieve at least $250M of run-rate cost synergies wit
Slide 11: Logical Combination of Businesses with Deep Product Complementarity
Logical Combination of Businesses with Deep Product Complementarity Complementary Engine Components Complete Drivetrain System Offering © 2026 Dana 11
Slide 12: Accelerated Aftermarket Expansion
Accelerated Aftermarket Expansion 2026E Combined Aftermarket Sales Combination Benefits Offers a comprehensive range of Mobility Mobility genuine and "all-makes" parts Complete Aftermarket Offering Cross-sell opportunities leveraging combined sales channels and distribution partners Significan
Slide 13: Combination Enhances and Accelerates 2030 Objectives
Combination Enhances and Accelerates 2030 Objectives Objectives Mobility Broader Scope of Products, e.g., Traditional Product Growth Complete Drivetrain System Areas of particular Accelerated Aftermarket Expansion Aftermarket Growth and Increased Breadth Mobility strength Further Market Expansion wi
Slide 14: At Least $250 Million of Cost Synergies Identified
At Least $250 Million of Cost Synergies Identified Total Cost Synergies: Expected Timing $250M Key Opportunities 2027 2028 Duplicative corporate structure and functions IT integration (back-office consolidation, ERP) Corporate Consolidation and best-practice adoption Engineering system ratio
Slide 15: Estimated Timeline to Close Transaction
Estimated Timeline to Close Transaction Mobility T O D AY OCT NOV DEC Q1 2027 Q2 Target for Investor Target for Target for Transaction Public Filing of Presentation Special Transaction Update Merger and Roadshow Shareholder Close Registration Meeting Statement and © 2026 Dana Dana Special Meeting Pr
Slide 16: Financial Review
Financial Review © 2026 Dana 16
Slide 17: 2026 Q2 Financial Results
2026 Q2 Financial Results Higher sales primarily driven by Changes from Prior Year increased pricing, currency translation, backlog and higher ($ in millions, except EPS) Q2 ‘26 Q2 ‘25 Change demand in key markets Efficiency improvements, Sales $ 2,010 $ 1,935 $ 75 pricing, and cost-savings acti
Slide 18: 2026 Q2 Sales and Profit Changes
2026 Q2 Sales and Profit Changes Sales Strong profit conversion on organic growth due to product $12M $2,010M $24M mix $29M $4M Operating performance and $0M $1,935M $6M pricing initiatives drove margin expansion Annualization of cost savings actions drove further improvement Currency was a
Slide 19: 2026 Q2 Adjusted Free Cash Flow
2026 Q2 Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from Changes from Prior Year both continuing and ($ in millions) discontinued operations, to align with Off-Highway deal structure 2026 2025 Change One-time costs were lower due Adjusted EBITDA Cont. Ops $ 20
Slide 20: 2026 Financial Guide
2026 Financial Guide 2026 Guidance Ranges Sales guidance increased due to higher demand for commercial vehicles (CV) Full-Year Guidance Outlook Adjusted EBITDA guidance increased by $25 million, driven by higher sales in the CV OE end market Sales ~$7.75B ±$100M Increased $225M Diluted adj. EP
Slide 21: 2026 Full-Year Sales and Profit Changes
2026 Full-Year Sales and Profit Changes Sales Favorable mix on approximately flat volumes driven by sales ~$35M ~$7,750M ~$95M backlog yielding better margins, and improved aftermarket sales ~$80M ~$35M Operating efficiency and pricing $7,500M ~$5M ~$0M ~$0M actions expected to deliver additiona
Slide 22: 2026 Full-Year Adjusted Free Cash Flow
2026 Full-Year Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from Changes from Prior Year both continuing and ($ in millions) discontinued operations, to align with Off-Highway deal structure 2026 2025 Change Lower one-time costs, net Adjusted EBITDA Cont. Ops $
Slide 23: Creating Value Through Execution and Strategic Transformation
Creating Value Through Execution and Strategic Transformation Transaction on Track Continued Strong Execution Delivered profitable growth and expanded margins Mobility Operational execution driving higher earnings and Enhancements Combination Positions Dana cash generation as a Leading Global
Slide 24: Q2 Earnings Appendix
Q2 Earnings Appendix © 2026 Dana 24
Slide 25: 2026 Q2 Sales and Profit Change by Segment
2026 Q2 Sales and Profit Change by Segment $9M $1,379M $7M $7M $19M $0M $1,335M $2M Sales Light Vehicle Systems $19M $3M $0M $143M $14M ($3M) ($2M) $112M Adjusted EBITDA 8.4% 10.3% 2025 Vol/Mix Performance* Cost Savings Tariff Currency Commodities 2026 $3M $631M $17M $10M $0M Sales $600M $4M ($3M) C
Slide 26: Segment Sales Profiles
Segment Sales Profiles Light Vehicle Systems Commercial Vehicle Systems YTD 6/30/2026 YTD 6/30/2026 11% 16% 9% 21% 5% 42% 21% 39% 5% 12% Customers 15% Regions Customers Regions 51% 5% 8% 69% 12% 5% 31% 19% 4% Ford North America PACCAR North America © 2026 Dana Stellantis N.V. Europe Volkswagen (Trat
Slide 27: 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 June 30, 2026 and 2025 For the Six Months Ended June 30, 2026 and 2025 Three Months Ended Six Months Ended (In millions) June 30, (I
Slide 28: Segment Data Continued
Segment Data Continued DANA INCORPORATED DANA INCORPORATED Reconciliation of Earnings (Loss) From Continuing Operations Before Reconciliation of Earnings (Loss) From Continuing Operations Before Income Taxes to Adjusted EBITDA (Unaudited) Income Taxes to Adjusted EBITDA (Unaudited) For the Three Mon
Slide 29: Cash Flow
Cash Flow DANA INCORPORATED Reconciliation of Net Cash Provided by (Used In) Operating Activities to Adjusted Free Cash Flow (Unaudited) Three Months Ended (In millions) June 30, 2026 2025 Net cash provided by operating activities $ 109 $ 32 Purchases of property, plant and equipment - Continuing op
Slide 30: Supplemental Disclosure
Supplemental Disclosure © 2026 Dana 30
Slide 31: Pro Forma Financial Projections
Pro Forma Financial Projections Sales Adjusted EBITDA ($ in millions) ($ in millions) 18.5% ~$14,000 18.0% ~$13,225 16.2% ~$12,325 ~$11,625 ~$4,000 14.0% $10,609 ~$11,000 ~$3,825 13.1% ~$2,595 ~$3,525 ~$2,380 ~$3,250 ~$3,325 $3,109 10.1% ~$1,995 ~$845 ~$1,630 ~$780 ~$1,440 ~$675 ~$250 ~$250 $1,076 ~