#1ADIENT FY 2023 Second Quarter Earnings Call May 3, 2023#2Important Information ///// ADIENT ///////// Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's expectations for its deleveraging activities, the timing, benefits and outcomes of those activities, as well as its future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, market position, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient's control, that could cause Adient's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the Ukraine conflict and COVID lockdowns in China and their impact on regional and global economies and additional pressure on supply chains and vehicle production, the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties, the continued financial and operational impacts of and uncertainties relating to the COVID-19 pandemic on Adient and its customers, suppliers, joint venture partners and other parties, work stoppages, including due to supply chain disruptions and similar events, energy and commodity availability and prices, the company's ability and timing of customer recoveries for increased input costs, the availability of raw materials and component products (including components required by our customers for the manufacture of vehicles (i.e., semiconductors)), whether deleveraging activities may yield additional value for shareholders at all or on the same or different terms as those described herein, the ability of Adient to execute its turnaround plan, automotive vehicle production levels, mix and schedules, as well as our concentration of exposure to certain automotive manufacturers, the ability of Adient to effectively launch new business at forecast and profitable levels, the ability of Adient to meet debt service requirements, the terms of future financing, the impact of tax reform legislation, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, general economic and business conditions, the strength of the U.S. or other economies, shifts in market shares among vehicles, vehicle segments or away from vehicles on which Adient has significant content, changes in consumer demand, global climate change and related emphasis on ESG matters by various stakeholders, the ability of Adient to achieve its ESG-related goals, currency exchange rates and cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient's business is included in the section entitled "Risk Factors" in Adient's Annual Report on Form 10-K for the fiscal year ended September 30, 2022 filed with the U.S. Securities and Exchange Commission (the "SEC") on November 22, 2022, and in subsequent reports filed with or furnished to the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document. In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient's businesses. Such projections reflect various assumptions of Adient's management concerning the future performance of Adient's businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions, or the projections based thereon. This document also contains non-GAAP financial information because Adient's management believes it may assist investors in evaluating Adient's on-going operations. Adient believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Non-GAAP measures include Adjusted EBIT, Adjusted EBITDA, Adjusted net income, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted interest expense, Free cash flow and Net debt. For further detail and reconciliations to their closest GAAP equivalents, please see the appendix. Reconciliations of non-GAAP measures related to FY2023 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations. FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 2#3Agenda > Introduction Mark Oswald VP, Treasurer & Investor Relations > Business Update Doug Del Grosso President and CEO > Financial Review Jerome Dorlack Executive VP and CFO > Q&A FY2023 Second Quarter Earnings Call ADIENT May 3, 2023 3#4Executing Adient's FY23 plan /////////// // / // ///// ADIENT //// Remaining focused on delivering the company's commitments > Strong operational execution, positive commercial momentum and an extreme focus on containing costs continue to drive the business forward Adient delivered solid Q2FY23 financial results, building on the momentum established earlier in the year > The momentum is expected to continue in H2FY23; however, expectations are tempered due to soft vehicle demand in China and elevated steel prices in North America > FY23 plan on track In addition to Q2FY23's financial results, several other initiatives continue to be executed to ensure long-term sustained success for the company > > > > Opportunistically issued $1B of new USD senior notes - proceeds from the issuance plus cash on hand used to paydown ~$750M of EUR notes due 2024 and pre-pay $350M of Adient's TLB The company began to execute its previously announced enhanced capital allocation plan by repurchasing ~759,600 shares of its common stock using ~$30M of cash on hand (includes ~48,000 shares and ~$1.9M that settled subsequent to quarter end) Awarded business with new entrants and legacy OEMs, solidifying our market-leading position Selected "supplier of the year" by several customers -- further underscoring the company's unrelenting focus on delivering quality solutions. Recognition in the quarter included: GM Supplier of the Year, Renault Korea Motors Supplier of the Year, FAW-Toyota Excellent Quality Award, Volvo Car APAC Excellent Supplier Award, GAC-Trumpchi Excellent Supplier Award and seven J.D. Power awards for seat satisfaction for Adient's APAC region team FY2023 Second Quarter Earnings Call Adient PUBLIC Key Q2FY23 Financial Metrics Consolidated ~$3.9B Revenue (up 12% y-o-y) Adj. EBITDA Cash Balance Gross Debt and Net Debt $215M (up $56m y-o-y) $826M (at March 31, 2023) ~$2.5B and ~$1.7B, respectively May 3, 2023 4#5Driving forward with focus on sustainable solutions // Adient management recently met with investors to discuss Adient's sustainable seat solutions Creating a sustainable future together FY2023 Second Quarter Earnings Call Soft Back Panel: This lightweight technology offers estimated mass reduction of up to 2kg per car set, using 70% recycled materials while also offering an enhanced luxury feel and improved second row knee clearance Leather Alternatives: Virtually all OEMs are working to reduce or eliminate leather content to improve sustainability, increase quality, and reduce cost. We are working with customers on plant-based and recycled alternatives, and assessing their sustainability impact, cost and fit with customer requirements Shell Foam TM: Adient is ready to answer the call for slim and lightweight seating solutions used in micro cars and electric vehicles Adient - PUBLIC H2 Green Steel: The steel company will supply fossil-free steel with a low carbon footprint from 2026 on for use in Adient's metal products, driving emissions reduction in the material with the most significant CO₂e ADIENT /////// Ultra ThinTM: A new, unique seat construction of thermoplastic elastomer (TPE) panels that offers a high level of comfort and support, creating significant space savings, component consolidation and overall mass reductions May 3, 2023 5#6Strengthening our leading position and solidifying supplier of choice status > Underpinned by solid execution, Adient continues to win a strong mix of EV and ICE platforms across regions, including wins in the luxury, SUV, and mass market segments > Wins include replacement business, conquest wins, and brand-new platforms, > with an emphasis on vertical integration and profitability > New Toyota compact EV SUV won, to be produced in Tianjin Vehicle co-developed by Toyota and BYD Sourcing includes complete value chain with a strong partner on a brand-new EV program Kia New SUV Complete Seat Foam, Trim Mercedes EQC Complete Seat Foam, Trim, Metals Toyota Compact SUV Complete Seat Foam, Trim, Metals .00, Stellantis Grandland X Complete Seat ADIENT Observations from Shanghai China remains the world's largest auto market Despite short-term constraints (i.e., price war and consumers' "wait and see" mindset), the long-term growth story remains intact - especially for EVs Chinese OEMs are expanding their share significantly across all price segments > Vehicle exports from China are growing Adient's leading capabilities and strong market presence continue to underpin significant business wins On-track to achieve FY23 sourcing target of >$1B across China NEV start ups and global manufacturers -- including a significant amount of NEVS FY2023 Second Quarter Earnings Call Adient PUBLIC May 3, 2023 6#7In process and upcoming launches > Adient continues to execute at a high level on all aspects of launches -- safety, quality, on-time delivery, and financial targets -- while working through a heavy launch cadence in the quarter > Launches across the regions include a mix of complete seat, foam, trim, and metals, supporting increasing levels of vertical integration and improved profitability as balance in balance out progress continues Ford Mustang Americas Mercedes GLC APAC FY2023 Second Quarter Earnings Call GLC ADIENT /// Lincoln Nautilus APAC Mercedes AMG GT EMEA Adient - PUBLIC May 3, 2023 7#8FY2023 operating environment //// ////// > As expected entering 2023, the overall operating environment to date in FY23 has modestly improved vs. FY22 > The modest improvement in the operating environment is expected to continue in H2FY23; however, soft vehicle demand in China and increased steel prices in North America temper our second half expectations Positive Neutral Expected Influences H2 vs. H1 > Stability of customer production schedules (gradual, sequential improvement) > Self-help; increased efficiencies Vehicle production (improved in N. America, largely offset by modestly lower production in ROW) > Energy, freight, labor availability and cost Commercial settlements / recoveries > Balance in/balance out > Steel costs (potential risk in Q4) Cautionary > Consumer demand (potential softening) ADIENT ///////////// Regional Environments Americas • "Run rates" at customers trending in a positive direction Inventory rebuild combined with a likely increase in sales incentives should support vehicle build assumptions for FY23 Monitoring potential softening of consumer demand China • Auto demand in China remains "soft" despite unprecedented price cuts • Soft demand and rising inventories heighten concerns for downward revisions to production schedules in the coming quarters Europe Long-term vehicle production forecast not expected to return to pre-COVID levels Adient continues to identify actions to be implemented to improve financial performance (reducing SG&A, footprint, lower capital spending, etc.). See slides 9-10 for key trends driving the need for restructuring, Adient's response and a case study in effective, cost-efficient restructuring FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 8#9Macro and industry specific trends driving the need for restructuring /// ADIENT ////// Several external and industry specific trends are reshaping the automotive sector. It's imperative current and future business practices are aligned with these changes Key trends/influences > Light vehicle production > Adient's response Adjusting volume > > > > Uncertain and slow growth in Europe - forecasts do not expect production levels to return to pre-COVID levels in the short or longer term as economic downturn and e-mobility regulations remain as future challenges > > European production vs. new registrations Traditionally, production levels were above new registrations due to inventories and export (this trend reversed with COVID and chip shortages - inventories sold down) Forecasts show production levels will remain below demand as imports to Europe are expected to increase Chinese OEMs becoming the biggest exporters to Europe Traditional OEM reaction to the market -- reducing footprint and moving east to lower cost footprint Industry trend towards digital validation (reduces the need for physical testing facilities / workload) > > > > Shift elimination / line speed changes Footprint competitiveness > Lower wage footprint Organizational / structural design > Reduce SG&A > Customer driven decisions Customer plant closures -- seek compensation > Selective bidding on uncompetitive business Although restructuring is often expensive (especially in Europe), Adient is committed to being good stewards of capital when developing and executing necessary restructuring actions (see slide 10 for a case study in efficient, cost-effective restructuring) FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 9#10Bor: A case study in effective, cost-efficient restructuring ADIENT /// Adient continues to execute "efficient" restructuring across its operations. Actions are underpinned by the following mindset: Cost of restructuring is not "free"; Adient needs to be good stewards of capital Extreme focus on customer / program profitability Opportunities to improve balance in / balance out in future years January 2020 > As replacement business for the successor model of existing business came to sourcing, the customer's targets resulted in a projected negative FCF. > > This was not an acceptable outcome for Adient, leading to a decision to exit the JIT business, including giving back an awarded program. In addition, the team worked hard to reprice the business that was winding down. Adient explored innovative options to backfill the JIT business to improve the cash generation capabilities of the facility. Projected cash burn: $(20)M annually Headcount: 850 FY2023 Second Quarter Earnings Call December 2022 > > > The current model year business was successfully repriced as the business builds out. New business was quoted with alternative customers and won (wins are across multiple customers and include BEV and ICE platforms). Significant capex and restructuring spend was avoided and positive cash flow is projected following the launch phase of new business through the end of the decade. Positive cash flow forecast through 2030 Headcount: 500 Adient PUBLIC May 3, 2023 10#11Financial Review FY2023 Second Quarter#12Q2 FY2023 Key Financials As Reported As Adjusted $ millions, except per share data Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 B/(W) Consolidated $ 3,912 $ 3,506 $ 3,912 $ 3,506 12% Revenue EBIT $ es 96 $ 46 $ 134 $ 79 NM Margin 2.5% 1.3% 3.4% 2.3% EBITDA N/A N/A $ 215 $ 159 35% Margin 5.5% 4.5% Memo: Equity Income 1 $ 4 $ 7 St $ 12 $ 17 NM Tax Expense $ 25 $ 24 $ 27 $ 28 NM Net Income (Loss) $ (15) $ (81) $ 31 $ (12) NM EPS Diluted $ (0.16) $ (0.85) $ 0.32 $ (0.13) NM 1-Equity income included in EBIT and EBITDA NM-Measure not meaningful metric or comparison FY2023 Second Quarter Earnings Call Adient - PUBLIC ADIENT ///// May 3, 2023 12#13Q2 FY2023 Revenue: Consolidated and Unconsolidated Sales Consolidated sales $519 ///////////// Regional Performance (consolidated sales y-o-y growth (vs. Q2FY22) by region) 1, 2, 3 $3,506 $(113) ADIENT /////// Q2 Q2 S&P Production $3,912 Americas EMEA | 10.4% I I 9.8% 22.4% 23.6% Asia 15.4% 0.8% | Note: China 6.1% | -7.8% I I Note: Asia excl. China 22.4% 1 11.4% I Q2FY22 Volume / Pricing FX Q2FY23 1 - FX adjusted Unconsolidated sales 1 $860M $818M Year-over-year decrease of ~5% Q2FY22 Q2FY23 FY2023 Second Quarter Earnings Call consolidated unconsolidated > Americas and EMEA performed generally in line with the broader market as customer production schedules and production volumes continued to make modest improvements through the quarter > In China, Adient's customer mix outperformed the broader market and new programs that launched this year are running at rate > Asia outside China benefited from key programs running at rate and conquest business in Japan 2 Growth rates at constant foreign exchange 3- Excludes Russian market production > Unconsolidated sales were negatively impacted by the softer production environment following the Lunar New Year in China > Partially offsetting the negative influences were improved volumes at our unconsolidated joint ventures in the Americas and EMEA Adient - PUBLIC May 3, 2023 13#14Q2 FY23 Adjusted-EBITDA ///// //// ///// Q2FY23 adjusted EBITDA of $215M, up $56M y-o-y, was primarily driven by: > Volume and mix, which benefited the quarter by ~$84M as production improved > Improved business performance of ~$29M, driven by: > Improved net material margin of ~$56M, aided by commercial recoveries > Lower freight costs of ~$5M > These improvements were partially offset by ~$29M of labor and overhead headwinds primarily associated with elevated wage inflation and utility costs > Launch, ops waste and tooling negatively impacted the quarter by ~$3M in cost driven by a higher launch load (primarily in the Americas) > > > Commodities were a net headwind of ~$39M driven primarily by the timing of recoveries and nonrecurring favorable inventory valuation in FY22 due to higher commodity costs, while FX weighed on the quarter by ~$5M SG&A performance was a ~$9M headwind in the quarter, driven by the nonrecurrence of certain compensation related austerity measures taken in FY22, as well as timing of engineering spend in support of launches Equity income was lower by ~$4M y-o-y, driven by lower volumes at Adient's unconsolidated JV's (primarily in China) combined with the impact of our restructured pricing agreement within our Keiper joint venture FY2023 Second Quarter Earnings Call $ in millions ADIENT /////////////////////////////// | $159 I $29 $84 Q2FY22 Volume / Mix I $(44) $(9) $(4) $215 I I Business Performance Commodities FX/ SG&A Equity Income Q2FY23 $8 $215 $23 $26 $(1) $159 4.5% 5.5% Q2FY22 Americas EMEA Asia Corp Q2FY23 Note: Corporate includes central costs that are not allocated back to the operations, currently including executive offices, communications, finance, corporate development, and legal Adient PUBLIC May 3, 2023 14 ון#15Cash flow Free Cash Flow (in $ millions) Q2 FY23 YTD Q2 FY22 YTD Adjusted-EBITDA (Excl. Equity income) $ 203 $ 388 $ 142 $ 254 Dividend Restructuring Net Customer Tooling 1 $ 13 1 (10) (40) (13) (37) (23) (37) (23) (21) Trade Working Capital (Net AR/AP + Inventory) (14) 32 (24) 51 Accrued Compensation 38 10 14 14 (47) Interest Paid (64) (88) (70) (111) Taxes Paid (29) (49) (30) (38) Non-income Related Taxes (VAT) 27 8 17 53 Commercial Settlements 45 28 10 (44) Capitalized Engineering Prepaids Other Operating Cash flow (9) (34) 2 (1) (25) (23) (38) (36) (1) (25) ՄՌ $ 126 $ 170 $ 29 $ 15 (1) CapEx (56) (117) (57) (117) Free Cash flow $ 70 70 $ 53 $ (28) $ (102) 1 - CapEx by segment for the quarter: Americas $26M, EMEA $19M, Asia $11M FY2023 Second Quarter Earnings Call Adient PUBLIC ADIENT → Key drivers impacting FY23 FCF YTD: (+) Higher consolidated y-o-y earnings (driven by improved volumes and incrementally improving production environment) (+) Timing and level of commercial settlements (+) Lower level of total debt resulting in lower YTD interest paid (+) Lower level of accrued compensation driven by timing of payments and certain insurance related expenses (-) Typical month-to-month working capital movements (-) Timing of VAT deferred payments and refunds (-) Timing of tooling recoveries (-) Engineering in support of launch activities Memo: At Mar. 31, 2023, ~$206M of factored receivables (vs. ~$269M at Sep. 30, 2022). Adient uses various global factoring programs as a low-cost source of liquidity. May 3, 2023 15#16Debt and capital structure Net Debt ADIENT //// ($ in millions) Cash & Debt Profile Cash & Cash Equivalents ABL Revolver, incl. FILO due 2027 (1) Term Loan B due 2028 7.00% Secured Notes due 2028 Total Secured Debt 3.50% Notes (€123mm) due 2024 4.875% Notes due 2026 8.25% Notes due 2031 Other LT debt Other Bank Borrowings Deferred issuance costs Total Debt March 31 2023 September 30 2022 3/31/2023 Amount $ 826 (in $ millions) Cash $ 826 $ 947 635 (2) Total Debt 2,533 2,578 500 1,135 Net Debt 1,707 $ 1,631 134 795 > 500 2 1 > (34) > 2,533 (1) Subject to ABL borrowing base availability. As of March 31, 2023, there were no draws outstanding and approximately $973 million was available under the ABL Credit Agreement. Total liquidity of ~$1.8B at March 31, 2023 (cash on hand of ~$826M and ~$973M of undrawn capacity under the revolving line of credit) Adient's cash balance at March 31 reflects the impacts of: ~$28M of cash used to repurchase ~712,000 of its common shares, demonstrating the company's commitment to enhancing shareholder value 2 The use of $100M of cash plus the proceeds from a $1B new USD senior notes issuance to pay down about $750 million of its 3.5% EURO senior notes due 2024 and pre-pay $350 million of Adient's term loan B The opportunistic refinancing extended the average tenor of Adient's debt portfolio from ~3.4 to ~5 years 2- Subsequent to the quarter, repurchases of ~48,000 shares settled for ~$1.9M FY2023 Second Quarter Earnings Call Adient is successfully delivering on its commitment to maintain a strong balance sheet while executing its enhanced capital allocation plan Adient PUBLIC May 3, 2023 16#17FY23 Outlook - key financial metrics ADIENT Consolidated sales ~$15.0B No change Adj.-EBITDA Equity income Incl. in Adj.-EBITDA Interest expense ~$850M No change ~$70M No change ~$180M Prior: ~$160M ~$95M > Cash taxes Prior: ~$90M > CapEx Free cash flow ~$300M No change ~$215M > Prior ~$200M ///////// FY23 guidance updated to reflect Adient's YTD results through March 31, 2023 and current market conditions (including revised production forecast and current FX rates) Consolidated sales of $15.0B (up 8% vs. FY22 when adjusting for FX) Adj.-EBITDA reflects modest improvement in the overall operating environment partially offset by softer than expected demand in China (production forecast revised lower) and elevated steel prices in North America Interest expense forecast at ~$180M based on Q2's refinancing. and debt paydown and expected cash balances (cash interest expected at $145M) Cash taxes forecast at ~$95M Capital expenditures primarily driven by customer launch plans and intense focus on reusability where appropriate Free cash flow forecast at ~$215M given revised forecast for cash interest (currently ~$145M vs. prior ~$160M) and cash taxes The company remains on track to deliver its FY2023 commitments which include earnings, margin and FCF growth vs. FY2022 Reconciliations of non-GAAP measures related to FY2023 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations FY2023 Second Quarter Earnings Call Adient PUBLIC May 3, 2023 17#18Appendix and financial reconciliations FY 2023 Second Quarter#19Q2 FY23 Adjusted-EBITDA: Americas Q2FY23 of $72M, up $26M y-o-y, driven by: > > Improved volume and mix of ~$15M resulting from modestly improving customer production Improved business performance of ~$14M driven by: > Increased net material margin performance of ~$22M, aided by certain commercial recoveries Improved freight costs of ~$5M $ in millions > > > > Labor and overhead efficiencies were more $46 than offset by the negative impacts of increased labor costs, resulting in a net ~$7M headwind > Launch costs negatively impacted the quarter by ~$6M driven by the timing of launches 2.9% FX and commodities were a ~$3M benefit in the quarter Partially offsetting these benefits, SG&A weighed on the quarter by ~$6M, primarily driven by the nonrecurrence of certain compensation related austerity measures taken in FY22 FY2023 Second Quarter Earnings Call $15 $14 $3 ADIENT $(6) $72 4.1% Q2FY22 Volume / Mix Business Performance FX/ Commodities SG&A Q2FY23 Adient - PUBLIC May 3, 2023 19#20Q2 FY23 Adjusted-EBITDA: EMEA Q2FY23 of $53M, up $23M y-o-y, driven by: > > > Increased volume and mix of $52M resulting from improving customer production Improved business performance of ~$14M, driven by: ~$27M of net material margin improvement, aided by certain commercial recoveries $ in millions > Improved launch / ops waste / tooling performance of ~$4M > Labor and overhead efficiencies were more than offset by the negative impacts of $30 increased labor and utility costs, resulting in a net ~$14M headwind > 2.5% > > Increased freight costs of ~$3M Partially offsetting the improvements was a ~$46M headwind related to commodities, driven primarily by nonrecurring favorable inventory valuation in FY22 due to higher commodity costs, while FX benefited the quarter by ~$4M SG&A was a ~$3M negative impact due to the nonrecurrence of certain austerity measures FY2023 Second Quarter Earnings Call $14 $52 $2 Q2FY22 Volume / Mix Business Performance Equity Income Adient - PUBLIC $(42) $(3) FX / Commodities ADIENT $53 3.8% SG&A Q2FY23 May 3, 2023 20#21Q2 FY23 Adjusted-EBITDA: Asia Q2FY23 of $113M, up $8M y-o-y, driven by: > > Favorable volume and mix impact of ~$17M, driven primarily by the improved production environment in Asia outside of China Improved business performance of ~$7M, driven by: $ in millions ADIENT $7 $17 $113 > ~$7M of improved net material margin performance $105 $(6) $(5) > Lower freight costs of ~$3M $(5) > Offsets to these benefits were ~$2M of 13.6%* increased labor and overhead costs > Launch costs increased in the quarter by ~$1M 12.4%* > Equity income was down ~$6M y-o-y, due to lower volumes at our unconsolidated JVs as well as our restructured shareholder agreement impacting our Keiper joint venture (i.e., lower equity income approximately offset by higher consolidated income globally) > Q2FY22 Volume / Mix Business Performance Equity Income FX / Commodities SG&A Q2FY23 FX was an approximately ~$7M headwind and while commodities softened by ~$2M > SG&A was increased by ~$5M, driven by timing of engineering costs supporting roll on of new business FY2023 Second Quarter Earnings Call * Excluding equity income. Including equity income, margins of 14.5% and 14.6% for Q2FY22 and Q2FY23, respectively Adient - PUBLIC May 3, 2023 21#22Non-GAAP financial measurements and pro-forma reconciliations ADIENT Adjusted EBIT, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income attributable to Adient, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted interest expense, Free cash flow and Net debt as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. Management uses the identified non-GAAP measures to evaluate the operating performance of the Company and its business segments and to forecast future periods. Management believes these non-GAAP measures assist investors and other interested parties in evaluating Adient's on-going operations and provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Reconciliations of non-GAAP measures to their closest U.S. GAAP equivalent are presented below. Reconciliations of non-GAAP measures related to guidance for any future period have not been provided due to the unreasonable efforts it would take to provide such reconciliations. Adjusted EBIT is defined as income before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales. Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and stock based compensation. Certain corporate-related costs are not allocated to the business segments in determining Adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales. Adjusted EBITDA excluding adjusted equity income, each as defined herein, is also presented. Adjusted net income attributable to Adient is defined as net income attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits. Adjusted effective tax rate is defined as adjusted income tax provision as a percentage of adjusted income before income taxes. Adjusted earnings per share is defined as Adjusted net income attributable to Adient divided by diluted weighted average shares. Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or one-time items impacting equity income. Adjusted interest expense is defined as net financing charges excluding unusual or one-time items impacting interest expense. Free cash flow is defined as cash provided by operating activities less capital expenditures. Net debt is calculated as gross debt (short-term and long-term) less cash and cash equivalents. FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 22 22#23Non-GAAP Reconciliations - EBIT, Adj.-EBIT, Adj.-EBITDA, and Adj.-Equity Income FY2023 Second Quarter Earnings Call Three months ended March 31 2023 2022 (in $ millions) Net sales Cost of sales (1) GAAP Adj. Adjusted GAAP Adj. Adjusted $ 3,912 $ $ 3,912 $ 3,506 $ $ 3,506 3,662 3,662 3,328 3,328 Gross profit 250 250 178 178 Selling, general and administrative expenses Restructuring and impairment costs Equity income (loss) (4) (3) Earnings (loss) before interest and income taxes (EBIT) (2) 141 (13) 128 135 (19) 116 17 (17) 4 (4) 4 8 12 7 10 17 $ 96 38 $ 134 $ 46 33 $ 79 Ebit margin: 2.5% 3.4% 1.3% 2.3% Ebit margin excluding Equity Income: NM Not Meaningful 2.4% 3.1% 1.1% 1.8% Memo accounts: Depreciation Stock based compensation costs Adjusted EBITDA 71 10 $ 215 Adjusted EBITDA margin: Adjusted EBITDA margin excluding Equity Income: 5.5% 5.2% Three months ended March 31 2023 2022 Restructuring related charges $ Brazil indirect tax recoveries (1) 1 ՄԴ $ (2) 1 Insurance recoveries for Malaysia flooding 1 1 Cost of sales adjustment $ $ Purchase accounting amortization $ (13) $ (13) Transaction costs (1) (2) Restructuring related charges 1 Write off of accounts receivable associated with Russia (1) Loss on finalization of asset sale in Turkey (2) Selling, general and administrative adjustment $ (13) $ (19) Restructuring charges $ (17) $ (2) Impairment charge associated with Russian operations (2) 3 Restructuring and impairment costs $ (17) $ (4) Impairment of interests in nonconsolidated partially owned affiliates $ 7 $ 9 Restructuring related charges 1 Purchase accounting amortization 4 Equity income adjustment 1 $ 8 $ 10 Adient - PUBLIC 76 4 159 4.5% 4.1% ADIENT May 3, 2023 23#24Non-GAAP Reconciliations - Adjusted Net Income and Adjusted EPS Adjusted Net Income Three Months Ended Adjusted Diluted EPS ADIENT Three Mo Ma 2023 $ (0.16) 0.18 0.15 March 31 (in $ millions) 2023 2022 Net income (loss) attributable to Adient Restructuring and impairment costs $ (15) $ (81) Diluted earnings (loss) per share as reported 17 4 Restructuring and impairment costs (1) (1) Purchase accounting amortization 14 13 Purchase accounting amortization Restructuring related charges 3 Restructuring related charges Impairment of interests in nonconsolidated partially-owned affiliates (2) 7 9 Impairment of interests in nonconsolidated partially-owned affiliates (2) 0.07 Write off of deferred financing costs upon repurchase of debt Foreign exchange loss on intercompany loan in Russia (3) Premium paid on repurchase of debt (3) Other items (4) (3) 4 7 Write off of deferred financing costs upon repurchase of debt (3) 0.04 1 7 34 Foreign exchange loss on intercompany loan in Russia (3) Premium paid on repurchase of debt (3) 0.07 4 Other items (4) (5) Impact of adjustments on noncontrolling interests (1) (2) Impact of adjustments on noncontrolling interests (5) (0.01) (6) (6) Tax impact of above adjustments and other tax items Adjusted net income (loss) attributable to Adient (2) (4) $ 31 $ (12) Tax impact of above adjustments and other tax items Adjusted diluted earnings (loss) per share (0.02) 0.32 Three Months Ended March 31 2023 2022 1 Reflects amortization of intangible assets including those related to partially owned affiliates within equity income. Impairment of interests in nonconsolidated partially owned affiliates $ 7 $ 9 1 Restructuring related charges Purchase accounting amortization 2 Adjustments to equity income 1 $ 8 $ 10 Premium paid on repurchase of debt Foreign exchange loss on intercompany loan in Russia (7) (34) Write off of deferred financing costs upon repurchase of debt (4) (7) (1) Adjustments to net financing charges to calculate adjusted interest expense $ (11) $ (42) Transaction costs Brazil indirect tax recoveries (1) (3) 1 1 Loss on finalization of asset sale in Turkey (2) Insurance recoveries for Malaysia flooding 1 Allowance for doubtful accounts receivable associated with Russia (1) 4 Other items $ $ (4) 5 Reflects the impact of adjustments, primarily purchase accounting amortization on noncontrolling interests. Amortization Tax audit settlements (2) (1) སེཊུ (2) Tax rate change (4) Other reconciling items 1 2 6 Adjustments to income tax provision (benefit) $ (2) $ (4) FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 24#25Non-GAAP Reconciliations - Adjusted Income before Income Taxes and Effective Tax Rate ADIENT (in $ millions) Adjusted Income before Income Taxes Three Months Ended March 31 2023 2022 Income (loss) Income (loss) before Income Tax impact Effective before Income Tax impact Effective Taxes As reported $ 35 $ 25 tax rate 71.4% Taxes tax rate $ (36) $ 24 NM (1) Adjustments 49 2 4.1% 75 4 5.3% As adjusted $ 84 $ 27 32.1% $ 39 $ 28 71.8% Amortization Tax audit settlements Tax rate change Other reconciling items 1 Tax provision (benefit) adjustment FY2023 Second Quarter Earnings Call Adient - PUBLIC Three Months Ended March 31 2023 2022 $ (2) (1) $ (2) (4) 1 2 $ (2) $ (4) May 3, 2023 25#26Non-GAAP Reconciliations - Unconsolidated sales fiscal year 2022 reconciliations (in $ millions) Unconsolidated Sales (FX adjusted) Unconsolidated Net Sales Q1 Q2 Q3 Q4 FY2022 As reported $ 1,208 $ 926 $ 876 $ 1,056 $ 4,066 FX Impact FX Adjusted (138) (66) 1,070 860 FY2023 Second Quarter Earnings Call Adient - PUBLIC May 3, 2023 26#27Segment Performance ADIENT Q1 2022 Q1 2023 Americas EMEA AP Corporate/ Eliminations Corporate/ Consolidated Americas EMEA AP Consolidated Eliminations Net Sales 1,498 1,230 784 (32) 3,480 1,724 1,182 821 (28) 3,699 Adjusted EBITDA 9 43 114 (20) 146 69 28 138 (23) 212 Adjusted Equity Income (1) (1) 36 34 1 3 23 27 Depreciation 31 31 13 75 34 25 10 69 Capex 23 24 13 60 60 37 14 10 61 Q2 2022 Q2 2023 Corporate/ Americas EMEA AP Consolidated Americas EMEA AP Eliminations Corporate/ Eliminations Consolidated Net Sales 1,596 1,218 723 (31) 3,506 1,761 1,401 774 Adjusted EBITDA 46 30 105 (22) 159 72 53 113 (24) (23) 3,912 215 Adjusted Equity Income 1 16 17 1 3 8 12 Depreciation 32 31 13 76 32 27 12 71 Capex 27 18 12 57 26 19 11 56 YTD 2022 YTD 2023 Corporate/ Americas EMEA AP Consolidated Americas EMEA AP Eliminations Corporate/ Eliminations Consolidated Net Sales 3,094 2,448 1,507 Adjusted EBITDA 55 73 219 (63) (42) 6,986 3,485 2,583 1,595 (52) 7,611 305 141 81 251 (46) 427 Adjusted Equity Income (1) 52 51 2 6 31 39 Depreciation 63 62 26 151 66 52 22 140 Capex 50 42 25 117 63 33 21 117 FY2023 Second Quarter Earnings Call Adient PUBLIC May 3, 2023 27