Dana (DAN) 50th Annual Automotive Symposium summary

Third-quarter performance and outlook

• Q3 sales just over $2B, up $121M YoY; adjusted EBITDA $218M, up $56M, with a 10.7% margin, up 220 bps.

• Adjusted FCF was $66M; FY sales guidance rose to ~$7.8B while the adjusted EBITDA midpoint remained ~$825M.

Cost savings and operating efficiency

• Cost-savings target raised from $200M to $325M; $60M realized YTD and $320M achieved program-to-date, on track to reach the target by year-end.

• Continuing to offset ~$40M in stranded costs from the Off-Highway sale; transition service costs with Allison are being addressed, with stranded costs largely resolved.

• Automation projects at 11 plants, with 38 units deployed and 56 in progress; projects target $20M of run-rate savings in 2027.

Eaton Mobility transaction

• Reverse Morris Trust transaction is on track to close around the end of Q1 2027; pro forma 2026 sales projected at ~$11B and fully synergized adjusted EBITDA margin at 15%.

• $250M in annual run-rate synergies targeted within two years after closing, including corporate costs, engineering and tech-center resources, and purchasing scale.

• Eaton transmission products complement axle and prop-shaft offerings; combination expected to double aftermarket scale and lift it above 10% of combined revenue.

• Integration and synergy planning are underway; combination is intended to create a scaled powertrain systems provider and accelerate 2030 priorities.