Slide 1: 2026 First Quarter Results
2026 First Quarter Results April 23, 2026 Proprietary © Gentherm
Slide 2: Disclaimer
Disclaimer NO OFFER OR SOLICITATION This presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of secu
Slide 3: Business & Market Update
Business & Market Update Business Update • Strong first quarter demonstrates ability to execute in a dynamic environment • Initiated organization realignment to enhance agility, speed and accountability • Announced combination with Modine Performance Technologies resulting in a stronger enterprise w
Slide 4: First Quarter Highlights
First Quarter Highlights $395M $394M Progressed organic growth initiatives, including key announcements with KUKA Home and our new medical product ThermAffyx Automotive Product New Business Revenues Awards Record quarterly revenue driven by strong Automotive Climate and Comfort Solutions growth over
Slide 5: Fueling Gentherm's Organic Growth
Fueling Gentherm’s Organic Growth Delivered Home and Office Solutions to KUKA Home New Medical Product Launching in 2H26 Start of production and product launch in 1Q26 Meeting with Kuka Home Leadership Submitted FDA 510(k) in January 2026 ✓ Official product launch with global leader KUKA Home ✓ Laun
Slide 6: Strategic Combination Unlocks Growth and Margin Expansion
Strategic Combination Unlocks Growth and Margin Expansion Expands Gentherm’s product portfolio in thermal and precision flow management with industry leading, mission $3.5B+ critical products $2.6B Shifts revenue mix from primarily light vehicle into attractive, growing end markets (commercial, agri
Slide 7: Progressing on the Path to Transaction Closing
Progressing on the Path to Transaction Closing Performance Technologies Q1 Q2 & Q3 Q4 Announcement Execution of Sign-to-Close Deliverables Transaction Close ✓ Merger announced January 29 Audited carve out financials S4 / proxy filing Transaction expected to close in Q4 2026 ✓ Integration planning ki
Slide 8: First Quarter Financial Review
First Quarter Financial Review Revenue Adjusted EBITDA Operating Cash Flow $394M $49.3M $(5)M +7.2% ex-FX 12.5% margin +$8M vs. PY $394 $354 $49.3 $39.3 $(13) $(5) 11.1% 12.5% 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 • Automotive Climate and Comfort • Strong operating leverage and net material • Increased liqu
Slide 9: 2026 Guidance
2026 Guidance Remains unchanged As of Apr 2026 Comments Product • Expect ~3% growth (ex-fx) with industry light vehicle production declining $1.5B – $1.6B Revenues ~(2%), delivering mid-single digit growth over market for 2026 • Margin expansion of ~30 bps year-over-year; Footprint ~60 bps drag Adju
Slide 10: Why Gentherm?
Why Gentherm? Innovative leader uniquely positioned for Continuous improvement mindset to drive Strong financial position with ability profitable growth driven by scalable margin expansion and solid cash flow to efficiently deploy capital and drive technology platforms and broad market conversion sh
Slide 11: Appendix
Appendix Proprietary © Gentherm
Slide 12: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adju
Slide 13: Select Income Statement Data
Select Income Statement Data Three Months Ended March 31 (Dollars in thousands, except per share data) 2026 2025 Product Revenues $ 393,706 $ 353,854 Automotive 382,166 341,874 Medical 11,540 11,980 Gross Margin 97,227 86,465 Gross Margin % 24.7% 24.4% Operating Expenses 85,942 69,404 Operating Inco
Slide 14: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) March 31, 2026 December 31, 2025 Cash and Cash Equivalents $ 177,401 $ 160,833 Total Assets 1,430,294 1,396,429 Debt 219,036 189,073 Current 36 73 Non-Current 219,000 189,000 Revolving LOC Availability 278,120 307,935 Total Liquidity 455,521 468,768 P
Slide 15: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended March 31 (Dollars in thousands) 2026 2025 Net Income (Loss) $ 4,218 $ (128) Add Back: Depreciation and Amortization 14,073 12,788 Income Tax Expense 3,396 2,212 Interest Expense, net 2,633 3,555 Adjustments: Non-Cash Sto
Slide 16: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended March 31 2026 2025 Diluted EPS - As Reported $ 0.14 $ (0.00) Amortization of Acquisition Related Intangibles 0.05 0.05 Restructuring Expenses, net 0.22 0.15 Unrealized Currency Loss 0.03 0.31 Merger and Acquisition Expenses 0.48 –Leadership Transitio
Slide 17: Reconciliation of Financial Figures
Reconciliation of Financial Figures Modine Performance Technologies LTM September 30, (Dollars in millions) 2025 Reported Revenue $1,129 Less: Pro Forma Adjustments (21) Pro Forma Adjusted Revenue $1,108 Adjusted EBITDA as per Modine Reporting $152 Less: Pro Forma Adjustments (11) Less: Estimated In