Dana Incorporated · NYSE:DAN
Dana — Q3 2026 Earnings Presentation
25 slides from Dana's earnings presentation, Oct 28, 2026
Slide 1: 2026 Third-Quarter Conference Call
October 28, 2026 2026 Third-Quarter Conference Call
Slide 2: Disclaimers: Cautionary Notes on Forward-Looking Statements
Disclaimers Cautionary Notes on Forward-Looking Statements 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 Act”), and Section 21E of the Securities Exchange Ac
Slide 3: Agenda and presenters
Craig Barber Senior Director, Investor Relations and Corporate Communications Timothy Kraus Executive Vice President and Chief Financial Officer Agenda Byron Foster Chief Executive Officer
Slide 4: Solid third-quarter results driven by productivity gains and commercial actions
Solid third-quarter results driven by productivity gains and commercial actions Business Overview Eaton Mobility Transaction on Track and Pre-Closing Share Repurchases Increased See "Disclaimers" for comments regarding the presentation of non-GAAP measures Operating performance $2B Sales +$121M vs.
Slide 5: Eaton Mobility Transaction Update
Eaton Mobility Transaction Update Highly strategic combination Brings together two companies with complementary product portfolios Creates a focused, scaled powertrain leader, accelerating the Dana 2030 plan Combination to be structured as a split-off and Reverse Morris Trust transaction Intended to
Slide 6: Estimated Timeline to Close Transaction
Estimated Timeline to Close Transaction ~ End of Q1 2027 Target for transaction close Mobility On Track to Execute a Transaction that Drives Significant Value Above Dana’s Standalone Trajectory Expected special shareholder meeting date Today December 7 Continued strong execution in the business Q4 /
Slide 7: Combination Enhances and Accelerates Dana 2030 Objectives
Combination Enhances and Accelerates Dana 2030 Objectives Objectives Mobility Traditional Product Growth Broader Scope of Products, e.g., Complete Drivetrain System Aftermarket Growth Accelerated Aftermarket Expansion and Increased Breadth Applied Technologies Growth Further Market Expansion with Co
Slide 8: Dana 2030: Automation Initial Phase
Dana 2030: Automation Initial Phase 11 Plants executing automation projects 38 Automation units deployed, including robots, cobots, and AMRs $20M Run-rate cost savings in 2027 56 Additional automation units in progress Robot Cobot Autonomous Mobile Robot (AMR)
Slide 9: Business Combination Growth Opportunities
Business Combination Growth Opportunities Complementary Products, Channels, and Capabilities Create Incremental Growth Opportunities Beyond the $250M of identified cost synergies, we see significant revenue synergy opportunities incremental to Dana 2030 growth targets Aftermarket: Leverage Dana’s No
Slide 10: Commercial Vehicle Market Outlook
Commercial Vehicle Market Outlook Source: ACT Research, S&P, Company Forecasts North American Class 8 Production Volume North American Class 5-7 and Bus Production Volume Market Snapshot Improving freight economics and replacement demand support recovery Elevated backlogs provide visibility as produ
Slide 11: Financial Review
Financial Review
Slide 12: Higher sales driven by stronger commercial vehicle demand
Higher sales driven by stronger commercial vehicle demand, backlog conversion, and commercial and cost-recovery actions Operational efficiencies, favorable mix, material cost savings, cost-recovery actions, and structural cost actions drove higher adjusted EBITDA Net interest expense declined $28 mi
Slide 13: Strong profit conversion on organic growth
Strong profit conversion on organic growth, driven by favorable commercial vehicle mix and backlog conversion Operational performance and commercial and cost-recovery actions drove significant margin improvement Annualization of cost-saving actions continues to benefit margin Timing of tariff recove
Slide 14: 2026 Q3 Adjusted Free Cash Flow
2026 Q3 Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from both continuing and discontinued operations, to align with Off-Highway deal structure One-time costs were lower due to completion of most cost reduction programs Lower net interest due to the timing of inter
Slide 15: 2026 Financial Guidance
2026 Financial Guidance Sales outlook increased $50 million at the midpoint, reflecting stronger commercial vehicle demand and higher commodity recoveries Adjusted EBITDA midpoint maintained at ~$825 million Adjusted free cash flow consistent with last year, as benefits of the Off-Highway divestitur
Slide 16: 2026 Full-Year Sales and Profit Changes
Organic sales growth supported by backlog conversion, commercial vehicle aftermarket growth, and favorable mix Higher-margin backlog and aftermarket growth expected to drive strong profit conversion Operating efficiency, commercial actions, and execution of cost-reduction initiatives driving signifi
Slide 17: 2026 Full-Year Adjusted Free Cash Flow
2026 Full-Year Adjusted Free Cash Flow Adjusted free cash flow in 2025 includes cash generated from both continuing and discontinued operations, to align with Off-Highway deal structure Lower one-time costs, net interest, taxes, and working capital offset nearly all the loss of profit from the dives
Slide 18: Creating Value Through Execution and Strategic Transformation
Creating Value Through Execution and Strategic Transformation Combination Positions Dana as a Leading Global Powertrain Systems Provider Transaction on Track Delivered profitable growth and expanded margins Operational execution driving higher earnings and cash generation Delivered strong free cash
Slide 19: Q3 Earnings Appendix
Q3 Earnings Appendix @
Slide 20: 2026 Q3 Sales and Profit Change by Segment
* Sales Adjusted EBITDA 9.3% 2026 Q3 Sales and Profit Change by Segment Light Vehicle Systems * Sales Adjusted EBITDA 3.2% Commercial Vehicle Systems 9.0% 11.0% 10.3% See "Disclaimers" for comments regarding the presentation of non-GAAP measures *Corporate cost savings of $9M are allocated to the pr
Slide 21: Segment Sales Profiles
Segment Sales Profiles Customers Regions Regions Light Vehicle Systems YTD 9/30/2026 Commercial Vehicle Systems YTD 9/30/2026 AB Volvo Customers
Slide 22: Diluted Adjusted EPS
Diluted Adjusted EPS DANAINCORPORATED DANAINCORPORATED t (Loss) Adjusted Net Income Attributable to the Parent Company and Diluted Adjusted EPS (Unaudited) For the Thr {tn millions, except per share amounts) ‘Not income attributable to the parent company Items impacting income before income taxes: ‘
Slide 23: Segment Data
Segment Data DANAINCORPORATED ‘Segment Sales and Adjusted EBITDA (Unaudited) For the Three Months Ended September 30, 2026 and 2025 (in millions) Sales Light Vehicle Commercial Vehicle Total Sales Adjusted EBITDA Light Vehicle Commercial Vehicle Corporate expense and other items, net Adjusted EBITDA
Slide 24: Segment Data Continued
Segment Data Continued DANA INCORPORATED Before Earnings i Income Taxes to Adjusted EBITDA (Unaudited) For the Three Months Ended September 30, 2026 and 2025 (tn millions) Eamings from continuing operations before income taxes ‘Adjustments related to continuing operations Loss on exinguishmentoof de
Slide 25: Cash Flow
Cash Flow DANA INCORPORATED "paused Free Cash Flow (Unaudited) (ia millions) Net cash provided by operating activities, Purchases of property, plant and equipment - Continuing operations, Purchases of property, plant and equipment - Discontinued operations Proceeds from n of Net Cash Provided By (Us