#1Investor Presentation April 2018 LEAR CORPORATION#2Safe 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 "will," "may," "designed to," "outlook,” “believes,” “should,” “anticipates,” “plans,” “expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. The Company also may provide forward-looking statements in oral statements or other written materials released to the public. All statements contained or incorporated in this presentation or in any other public statements that address operating performance, events or developments that the Company expects or anticipates may occur in the future are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and its other Securities and Exchange Commission filings. Future operating results will be based on various factors, including actual industry production volumes, commodity prices and the Company's success in implementing its operating strategy. Information in this presentation relies on assumptions in the Company's sales backlog. The Company's sales backlog reflects anticipated net sales from formally awarded new programs less lost and discontinued programs. The calculation of the sales backlog does not reflect customer price reductions on existing or newly awarded programs. The sales backlog may be impacted by various assumptions embedded in the calculation, including vehicle production levels on new programs, foreign exchange rates and the timing of major program launches. The forward-looking statements in this presentation are made as of the date hereof, and the Company does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date hereof. Non-GAAP Financial Information This presentation also contains non-GAAP financial information. For additional information regarding the Company's use of non-GAAP financial information, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), please see slides titled "Non-GAAP Financial Information" at the end of this presentation. LEAR CORPORATION 1#3Overview LEAR CORPORATION#4Two High-Performing Business Segments SEATING $15.9 billion sales Fastest-growing and most profitable automotive seating supplier Quality leader Product and process innovation E-SYSTEMS $4.6 billion sales Global leader in electrical architecture including high-power with wireless connectivity expertise LEAR CORPORATION Global capabilities and low-cost provider Segment leading margins and strong cash generation Return on invested capital well above cost of capital 3#5Strategic Acquisitions Have Strengthened Core Businesses and Added Product Capabilities SEATING 2017 GRUPO ANTOLIN · Grupo Antolin Seating Innovative reconfigurable seat structures Sales growth and diversification Eagle Ottawa • EAGLE OTTAWA PREMIUM LEATHER • 2012 to 2016 Guilford World's leader in automotive leather Seat cover design expertise Premium leather Sales growth and diversification Guilford Mills • • Performance textiles Sales growth and diversification TECHNOLOGIES E-SYSTEMS ARADA SYSTEMS EXO Technologies ● Industry-leading vehicle positioning - instant, accurate, anywhere Arada Systems Connectivity software engineers Connectivity hardware and software • Cyber security software • Industry-leading V2X infrastructure Autonet Mobile Autonet • mobile • . Connectivity software and devices Wireless connectivity expertise Over-the-air software reprogramming LEAR CORPORATION · Cyber security architecture 4#6Significant Profitable Growth Opportunities in Both Business Segments SEATING Fastest-growing and most profitable automotive seating supplier with the highest level of vertical integration, including unique leather, electronics and software capabilities · Growth Opportunities Increasing mix of high-content crossover, SUV and luxury vehicles Crafted by Lear™ • INTUTM Intelligent Seat Drop & Go™ seat reconfigurability • Growth in China Lear market share gains Continued Growth Mid Single Digit % Above Market LEAR CORPORATION E-SYSTEMS Global leader in electrical architecture technology, including high-power capabilities with wireless connectivity and cyber security expertise Growth Opportunities Increasing consumer demand for vehicle content requiring signal, data and power management Electrification Connectivity Growth in China Lear market share gains Accelerating Growth High Single Digit % Above Market 5#7Record 2018-2020 Sales Backlog (in millions, Euro at $1.18) $3.2 Billion Consolidated Sales Backlog % of Total $3,200 N.A. $1,050 (+Non-consol $75) Nearly $4 Billion Total Backlog Including Non-Consolidated Europe & Africa $1,000 E-SYSTEMS ≈40% $1,300 $1,400 $1,200 SEATING ≈60% $550 $1,900 $450 $600 $750 $850 $300 S.A. $100 $300 2018-20 2018 2019 2020 Asia $1,050 (+Non-consol $625) $400 Million Of E-Systems Backlog In Electrification And Connectivity Programs And 90% Of Seating Backlog On Crossover And SUV Programs LEAR CORPORATION 6#8Increasing Quoting Activity in Electrification and Connectivity Awarded Business =$200M LEAR CORPORATION +$400M Backlog Incremental 2018 Quoting Activity =$1.0B =$700M 2017 2018-2020 January Present 7#9Key 2018 Launches SEATING 55 Key Launches Including 43 on Crossovers, SUVs and Pickups E-SYSTEMS 160 Total Launches Including Industry's Most Sophisticated Connected Gateway Module Mercedes GLE JIT, Trim North America FOCUS BMW X3 Ford Focus JIT, Structures, Trim, Foam Asia Wire, Power Distribution, T&C Europe, Asia Audi (various models) Gateway/Connectivity Box Europe GMC Sierra Chevy Silverado JIT, Trim, Leather, Fabric, Foam, Recliners, Front Tracks North America LEAR CORPORATION Audi Q3 JIT, Fabric Europe FCA Ram / /Wrangler High Voltage Wire North America Land Rover Range Rover / Sport Wire Europe 8#10Seating L LEARⓇ CORPORATION#11Seating Core Product Portfolio Complete Seats Seat Covers LAND ROVER Structures & Mechanisms Foam Leather & Fabric 2018 Range Rover Autobiography Executive Class Rear Seating Integrated Features & Technology LEAR CORPORATION 10#12Future of Seating - Market Trends and Lear Innovation Craftsmanship and Design Sustainability Connectivity crafted™ by LEAR CORPORATION Autonomy and Safety Into by TM LEAR CORPORATION Mobility Configurability LEAR CORPORATION Drop & Go™ PERSONALIZED COMFORT Int TEMPERATURE MODE 11#13Intu™ Seat Delivers Increased Content Opportunities SoundZone™ Headrest with integrated speakers and microphone Rapid Repositioning Intu LEAR SoundZone™ Haptic speaker in seat back Intelligent electromechanical mechanism High-precision recliner BioBridge™ Signal/electrical distribution system Proprietary SoundZone TM software Audio Domain Controller (ADC) with Bluetooth® Dynamic Comfort BioBridge TM + Rapid Repositioning Intelligent Heat/Cool Next Generation Intelligent Seat Sensor unit - Heart Rate & Respiratory Monitoring Signal/electrical distribution system Biometric software with deterministic algorithms Dynamic Comfort Pneumatic bladder array Pulse with Modulation (PWM) controlled pump Signal/electrical distribution system Proprietary ProActive TM algorithms and software Intelligent pneumatic control module Signal/electrical distribution system Proprietary algorithms and software Smart signal control module Intelligent Heat/Cool Climate ribbon with thermoelectric devices Surface sensors Signal/electrical distribution system Proprietary thermogenic algorithms and software SEATING E-SYSTEMS Potential CPV Opportunity $250 - $750 LEAR CORPORATION 12#14E-Systems L LEARⓇ CORPORATION#15E-Systems Core Product Portfolio ELECTRICAL DISTRIBUTION Sh290ST Wire Harnesses Terminals & Connectors ELECTRONICS Wireless Body Domain Controllers Vehicle Access 48V & HV Wire Harnesses 48V & HV Terminals & Connectors Exterior Lighting Control Circuit Protection Electrical Centers LEAR CORPORATION AX Power Distribution Boxes HV Power Distribution LEAR Audio Domain Controllers Smart Junction Boxes BOOOOOOO Vehicle Network Controllers Connectivity Modules HV Power & Control Modules 14#16Emerging Trends Offer Significant E-Systems Value Creation Electrification 2027 Addressable Market: =$44 Billion Feature Plug-in Hybrid / Battery Electric HV EDS, T&Cs, traction inverter, DC/DC converter, battery monitoring system plus on-board charger, wireless charging systems 48V Mild Hybrid 48V electrical distribution, inverter, DC/DC converter, smart junction box Connectivity 2027 Addressable Market: $9 Billion Autonomous 2035 Addressable Market: =$50 Billion Incremental Incremental Feature Feature CPV CPV =$2,000 Communication Module with V2X $200 V2X hardware/software, safety algorithms Connectivity / Autonomous Data management / analytics, high precision positioning, advanced cybersecurity, Al / neural network =$300 Communication Module =$125 Seat Automation / Cellular, WiFi, OTA, car sharing, eCall Personalization Driver and passenger CPV opportunity of $300 to $2,000 LEAR CORPORATION CPV opportunity of $125 to $200 state monitoring Incremental CPV =$500 - $1,000 =$500 - $1,000 CPV opportunity of $500 to $2,000 15 Source: IHS Automotive for industry production#17Electrification - Lear Product Capabilities LEAR CORPORATION PHEV / BEV Standard Hybrid 48V Mild Hybrid 12V Start- Stop LEAR CLEAR 1541 • On-Board Battery Chargers Travel Cordsets Wireless Charging + All Standard Hybrid Products . HV DC/DC Converter HV Traction Inverter HV Electrical Distribution HV Terminals & Connectors HV Battery Management • 48V DC/DC Converter 48V Traction Inverter 48V Electrical Distribution 48V Terminals & Connectors Battery Diagnostic Sensor Voltage Quality Module Electrical Distribution 16#18Connectivity - Lear Product Capabilities LEAR CORPORATION Vehicle Networks Connected Car LEAR V2X Advanced Software CO M 500 LEAR Keychain App ° • Central Gateway Modules • Cyber Security High Speed Data Connection Systems Data Management Connectivity Boxes Connected Gateway Modules Cellular WiFi Bluetooth • On-Board Units ஞ் Calculated Position • Roadside Equipment Safety Algorithms High Precision Vehicle Positioning DSRC/ LTE-V Call OTA Software Virtual CarKey eCall Remote Commands Mobile and Web Applications 17#19China Opportunity L LEARⓇ CORPORATION#20Lear Has Complete Seating and E-Systems Engineering and Manufacturing Capabilities in China LEAR CORPORATION China Lear Capabilities 26K Employees 45 Manufacturing facilities. 5 Engineering and tech centers 13 Joint ventures (6 non-consolidated) 23 Cities 19#21China Will Continue to Be a Significant Growth Opportunity For Both Segments China Vehicle Production Forecast (units in millions) 17.0 30.6 26.3 26.5 Lear Revenue Forecast = (in billions includes non consolidated sales) Growth Drivers World's largest automotive market • =$7.5 SEATING E-SYSTEMS • Increasing population and vehicle density $2.2 • • =$4.6 $4.2 China OEMs seeking supplier expertise Increasing demand for luxury, crossovers and SUVs $1.1 $1.0 $5.3 • Consumer demand for added features $2.4 $3.5 $0.5 • $3.2 $1.9 Potential to become largest EV / Plug-in Hybrid market 2012 2017 2018 2022 2012 2017 2018E 2022E LEAR CORPORATION Continued Lear market share gains Source: IHS Automotive January 2018 Forecast, Lear estimates 20 20#22Financial Review L LEARⓇ CORPORATION#23Superior Financial Performance with Returns Well in Excess of Our Cost of Capital Sales (in billions) $14.6 7% CAGR (9% ex. FX) 2012 $20.5 2017 Core Operating Earnings (in millions) $1,719 18% CAGR $763 2012 2017 Adjusted Earnings Per Share Return on Invested Capital LEAR CORPORATION $5.49 25% CAGR $17.00 2012 2017 =9% Cost of Capital 17% 2017 ROIC Please see appendix for discussion of non-GAAP financial measures, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. 22 22#24Investment to Strengthen Global Capabilities and Improve Cost Structure Strong Global Capabilities 5,500 Total engineers globally with 40% in low-cost countries Low-Cost Footprint $1.0 B Invested to restructure global operations over last 10 years 600+ Software engineers $1.2 B Capital invested in low-cost country component facilities over last 5 years 20 Engineering centers globally, including 8 advanced product technical centers 80% facilities of component of related 95% employees LEAR CORPORATION based in low-cost countries Improving Adjusted Margins 5.2% 8.4% 2012 2017 Please see appendix for discussion of non-GAAP financial measures, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. 23#25Global Capabilities with Low-Cost Footprint 165,000 EMPLOYEES 257 IN 39 FACILITIES COUNTRIES LOW-COST FOOTPRINT ● 22 COUNTRIES ARGENTINA AUSTRALIA BELGIUM CANADA FRANCE GERMANY ISRAEL ITALY JAPAN NETHERLANDS PORTUGAL SINGAPORE SOUTH KOREA SPAIN SWEDEN UNITED KINGDOM UNITED STATES BRAZIL CHINA CZECH REPUBLIC DOMINICAN REPUBLIC HONDURAS HUNGARY INDIA INDONESIA MACEDONIA MALAYSIA MEXICO MOLDOVA MOROCCO PHILIPPINES POLAND More Than 80% Of Component Facilities And More Than 95% Of Related Employment Located In Low-Cost Countries ROMANIA RUSSIA SERBIA SLOVAK REPUBLIC SOUTH AFRICA THAILAND VIETNAM LEAR CORPORATION 24#26Balanced Capital Allocation Strategy $4.8 B invested in the business including seven completed acquisitions Capital Investment Acquisitions Guilford EAGLE OTTAWA PREMIUM LEATHER $0.5 B $4.0 B returned to shareholders Dividends $3.2 B 2011-2017 $3.5 B Share Repurchases 1 AccuMED GRUPO ANTOLIN TECHNOLOGIES $1.6 B ARADA SYSTEMS Autonet mobile LEAR CORPORATION . . . • Expanded product capabilities through capital investments and acquisitions Repurchased 42% of shares outstanding Increased dividend each year 68.1 million diluted shares outstanding at 12/31/2017 Since 2011; Reflective of announced acquisitions as of 12/31/17 25 25#27Record Cash Generation and Superior Shareholder Returns Free Cash Flow (in millions) $1,189 $1,091 Generated $4.3 Billion in Cumulative FCF $503 $367 $291 $831 2012 2013 2014 2015 2016 2017 LEAR CORPORATION 2017 Cash Flow Yield of 35% 11% Total Shareholder Returns 2017 2012-2017 297% 22% 108% Lear S&P 500 Lear S&P 500 Please see appendix for discussion of non-GAAP financial measures, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. 26#28Appendix L LEARⓇ CORPORATION#29Non-GAAP Information In addition to the results reported in accordance with GAAP included throughout this presentation, the Company has provided information regarding "pretax income before equity income, interest, other (income) expense, restructuring costs and other special items" (core operating earnings or adjusted earnings), "adjusted net income attributable to Lear" (adjusted net income), adjusted diluted net income per share available to Lear common stockholders (adjusted earnings per share) and "free cash flow" (each, a non-GAAP financial measure). Other (income) expense includes, among other things, non-income related taxes, foreign exchange gains and losses, gains and losses related to certain derivative instruments and hedging activities, losses on the extinguishment of debt and gains and losses on the disposal of fixed assets. Adjusted net income represents net income attributable to Lear adjusted for restructuring costs and other special items, including the tax effect thereon. Adjusted earnings per share represents diluted net income per share available to Lear common stockholders adjusted for the redeemable noncontrolling interest adjustment, restructuring costs and other special items, including the tax effect thereon. Free cash flow represents net cash provided by operating activities, excluding the settlement of accounts payable in conjunction with the acquisition of Eagle Ottawa, less adjusted capital expenditures. Adjusted capital expenditures represent capital expenditures, net of related insurance proceeds. Management believes the non-GAAP financial measures used in this presentation are useful to both management and investors in their analysis of the Company's financial position and results of operations. In particular, management believes that core operating earnings, adjusted net income and adjusted earnings per share are useful measures in assessing the Company's financial performance by excluding certain items that are not indicative of the Company's core operating performance or that may obscure trends useful in evaluating the Company's continuing operating activities. Management also believes that these measures are useful to both management and investors in their analysis of the Company's results of operations and provide improved comparability between fiscal periods. Management believes that free cash flow is useful to both management and investors in their analysis of the Company's ability to service and repay its debt. Further, management uses these non-GAAP financial measures for planning and forecasting future periods. Core operating earnings, adjusted net income, adjusted earnings per share and free cash flow should not be considered in isolation or as a substitute for net income attributable to Lear, diluted net income per share available to Lear common stockholders, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP or as a measure of profitability or liquidity. In addition, the calculation of free cash flow does not reflect cash used to service debt and, therefore, does not reflect funds available for investment or other discretionary uses. Also, these non-GAAP financial measures, as determined and presented by the Company, may not be comparable to related or similarly titled measures reported by other companies. Set forth on the following slides are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. LEAR CORPORATION 28#30Non-GAAP Financial Information Core Operating Earnings and Adjusted Margins (in millions) Net sales Net income attributable to Lear Full Year Interest expense Other (income) expense, net Income taxes Equity in net income of affiliates Net income attributable to noncontrolling interests 2012 2017 $ 14,567.0 $ 20,467.0 $ 1,282.8 $ 1,313.4 49.9 85.7 6.4 (4.1) (638.0) 197.5 (30.3) (51.7) 34.4 67.5 Pretax income before equity income, interest and other (income) expense $ 705.2 $ 1,608.3 Costs related to restructuring actions Acquisition and other related costs 55.7 6.2 75.4 3.8 Acquisition-related inventory fair value adjustment 5.0 Litigation 13.9 Insurance recoveries, net related to the destruction of assets Other Core operating earnings Adjusted margins (14.6) 10.1 12.6 $ 762.6 $ 1,719.0 5.2% 8.4% LEAR CORPORATION 29 29#31Non-GAAP Financial Information Adjusted Earnings Per Share (In millions, except per share amounts) Net income available to Lear common stockholders Redeemable noncontrolling interest Net income attributable to Lear Costs related to restructuring actions Acquisition and other related costs Acquisition-related inventory fair value adjustments Litigation Insurance recoveries, net related to the destruction of assets Loss on extinguishment of debt Gain related to affiliate Other U.S. transition tax on accumulated foreign earnings Deferred tax impact of U.S. corporate tax reform Foreign tax credits on repatriated earnings Tax impact of special items and other net tax adjustements Adjusted net income attributable to Lear Weighted average number of diluted shares outstanding LEAR CORPORATION Diluted net income per share available to Lear common stockholders Adjusted earnings per share 2012 Full Year $ 1,282.8 2017 $ 1,287.9 25.5 1,282.8 55.6 6.2 1,313.4 74.5 3.8 5.0 15.4 (41.1) 3.7 21.2 (5.1) (54.2) 10.1 13.5 131.0 42.5 (289.7) (764.4) (98.6) $ 547.8 $ 1,177.8 99.8 69.3 $ 12.85 $ 18.59 $ 5.49 $ 17.00 1 Reflects the tax effect of restructuring costs and other special items and several discrete tax items, including $739.3 million related to the reversal of a valuation allowance on our deferred tax assets in the United States in 2012 and $14.3 million related to an incentive tax credit in a foreign subsidiary, $29.9 million related to the reversal of valuation allowances on the deferred tax assets of certain foreign subsidiaries and $17.3 million related to the change in the accounting for share-based compensation in 2017. The identification of these tax items is judgmental in nature, and their calculation is based on various assumptions and estimates. 30 50#32Non-GAAP Financial Information LEAR CORPORATION Free Cash Flow (in millions) Full Year 2012 2013 2014 2015 2016 Net cash provided by operating activities $ 729.8 $ 820.1 $ 927.8 $ 1,271.1 $ 1,619.3 2017 $ 1,783.1 Settlement of accounts payable in conjunction with acquisition of Eagle Ottawa Adjusted capital expenditures 1 Free cash flow (439.1) (453.5) (424.7) 45.7 (485.8) $ 290.7 $ 366.6 $ 503.1 $ 831.0 $ 1,091.0 (528.3) (594.5) $ 1,188.6 1 Reflected net of related insurance proceeds of $19.2 million in 2012 and $7.1 million in 2013. 31