#1GOODYEAR FORWARD RAISING THE BAR AND DRIVING SHAREHOLDER VALUE INVESTOR PRESENTATION NOVEMBER 15, 2023 GOOD YEAR#2IMPORTANT DISCLOSURES Forward-Looking Statements Certain information contained in this presentation constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our cost reduction and rationalization actions and other strategic initiatives, including any initiatives resulting from the strategic and operational review of our business that are discussed in this presentation or may be announced in the future; a prolonged economic downturn or period of economic uncertainty; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; changes in tariffs, trade agreements or trade restrictions; actions and initiatives taken by both current and potential competitors; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. Reconciliation of Non-GAAP Financial Measures See "Use of Historical and Forward-Looking Non-GAAP Financial Measures" for further explanation and reconciliation tables for Total Segment Operating Income and Margin; Free Cash Flow; Adjusted Free Cash Flow; Adjusted EBITDA and Margin; and Net Leverage. 2#3AGENDA FOR TODAY'S CALL 1 Strategic & Operational Review Overview of Process and Scope 2 Our Plan: Goodyear Forward Raising the Bar and Driving Shareholder Value 3 Summary Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile 3#4STRATEGIC & OPERATIONAL REVIEW PROCESS COMMITTEE TOOK A COMPREHENSIVE APPROACH TO EVALUATING STRATEGIC, OPERATIONAL AND FINANCIAL ALTERNATIVES AND OPPORTUNITIES TO MAXIMIZE SHAREHOLDER VALUE CREATION Formed Strategic & Operational Review Committee Assessed All Potential Pathways to Value Creation Full Board Involvement and Support Committed to Overseeing Execution of Plan • Committee composed of five Directors, including two new independent Directors ⚫ Mission to rigorously evaluate all strategic and operational alternatives to maximize sustainable shareholder value creation Comprehensive process conducted over a 16-week period ⚫ Explored all portfolio optimization and asset monetization opportunities • Worked closely with multiple advisors and consultants ⚫ Committee engaged with the Board to present a detailed recommendation for streamlining the business, improving competitive positioning and driving growth ⚫ Full Board approved the Committee's plan Dedicated execution team assigned with plans to achieve milestones • Projects integrated into Annual Operating Plans with clear accountability ⚫ Full Board governance and oversight of the execution of the plan with regular progress updates to investors Strategic and Operational Review Committee James Firestone Former EVP & President, Corporate Strategy & Asia Ops. at Xerox ✓ Business Model Transformation ✓ International ✓ Extensive knowledge of Goodyear business Richard Kramer Chairman, President & CEO of Goodyear ✓ Automotive/Auto Supply Chain ✓ Financial Expert/M&A/Capital Markets ✓ Extensive knowledge of Goodyear business Max Mitchell President & CEO of Crane ✓ Public Company CEO ✓ Financial Expert/M&A/Capital Markets ✓ Business Model Transformation Thomas Williams Joined Board in July 2023 Executive Chairman and Former CEO of Parker-Hannifin ✓ Public Company CEO Automotive / Auto Supply Chain ✓ Business Model Transformation Roger Wood Former CEO of Tenneco ✓ Public Company CEO ✓ Automotive / Auto Supply Chain Financial Expert/M&A/Capital Markets Joined Board in July 2023 4#5COMPREHENSIVE WORKSTREAMS TO IDENTIFY VALUE CREATION OPPORTUNITIES LEVERAGING INDUSTRY-LEADING ADVISORS TO ENSURE A FULL ASSESSMENT OF ALL POTENTIAL PATHS FORWARD Identify and Action Portfolio Optimization ⚫ Comprehensive lists of principles and assessment criteria were developed All assets reviewed for strategic fit, competitive position, profitability, value creation opportunity, and importance to the long-term success of the company Identify and Capture Cost Out Opportunities • All areas of cost were reviewed: • Manufacturing footprint and efficiency programs ⚫ Procurement • SAG • R&D • Supply Chain Capture Market Growth and Refine Go-To-Market Strategy ⚫ Detailed analysis of market opportunities in North America Consumer Replacement: • • Price-Mix SKU Rationalization ⚫ U.S. Retail ⚫ Detailed analysis of EMEA and select markets in Asia Pacific 5#66 Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile LEVERAGING OUR STRENGTHS TO MEET OUR GOALS Unmatched Brand Cutting Edge Tire Technology Competitively Advantaged in Premium Tire Profit Pools Operational Excellence & Capabilities ✓ Strengthening competitive position as #1 North American tire manufacturer ✓ SOI margin on par with other leading tire companies ✓ Enhanced efficiency to drive robust cash flow generation ✓ Balance sheet leverage on par with other auto suppliers ✓ Positioned for growth in traditional markets and new mobility opportunities IMPLEMENTED A DETAILED PROCESS AND PLAN TO MEET MILESTONES AND REACH THESE GOALS#7Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile OUR PLAN: GOODYEAR FORWARD RAISING THE BAR AND DRIVING SHAREHOLDER VALUE Portfolio Optimization Sharpening our Focus Three Major Assets Selected for Strategic Review Margin Expansion Creating Fuel for Growth SOI Margin Chemical DUNLOP -5% BRAND Off-the-Road¹ Targeting gross proceeds in excess of $2.0B 2023E 10% Addressing Net Leverage Strengthening our Profile Net Debt/Adjusted EBITDA -4.0x 04 2025E 2023E 2.0x-2.5x 2025E Driven by $1.3B of margin improvement projects² Gross debt reduction of -$1.5B 7 1 Off-the-Road equipment tire business provides specialized tires for the mining and construction industries. 2 Enabled by -$1.1B of restructuring inclusive of -$400 million of previously announced rationalization programs.#8Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile PORTFOLIO OPTIMIZATION: SHARPENING OUR FOCUS WITH THE SUPPORT OF OUR FINANCIAL ADVISORS AND THIRD-PARTY CONSULTANTS, THE BOARD AND REVIEW COMMITTEE CONDUCTED A COMPREHENSIVE ASSESSMENT OF ALL GOODYEAR ASSETS 8 Guiding Principles Focus on value creation Assessment Criteria Strategic and Competitive Position Saleability and Valuation Potential Deliver in short-term and build for long-term Future Optionality • Prioritize sustainable competitive positioning Internal Synergies Evaluate and mitigate risk Uphold company brand and values Financial Profile Separability Announcing Strategic Reviews of Chemical DUNLOP BRAND Off-the-Road#9Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile PORTFOLIO OPTIMIZATION: SHARPENING OUR FOCUS (CONT'D) Today We Announce Strategic Reviews for These Assets Chemical DUNLOP BRAND Annual revenue of Off-the-Road Annual revenue of ~$1.0B¹ Primary SOI Impact Americas ~$0.7B Primary SOI Impact Europe Annual revenue of ~$0.7B Primary SOI Impact Asia Pacific TARGETING VALUE-ACCRETIVE GROSS PROCEEDS IN EXCESS OF $2.0B 1 Revenue includes internal sales to Goodyear (approximately 50% internal use / 50% external customers). 6#10Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile U.S. RETAIL PROVIDES STRATEGIC BENEFITS AND PROFITABILITY UPSIDE RETAIL'S NATIONWIDE FOOTPRINT AND STRONG BRAND AWARENESS ENHANCE OUR U.S. CONSUMER REPLACEMENT BUSINESS AND POSITION GOODYEAR TO CAPTURE ADDITIONAL VALUE CREATION OPPORTUNITIES Benefits Today ✓ Outlet for premium Goodyear tires driving volume and incremental profit to Goodyear enterprise ✓ Generates marketing visibility for Goodyear brand ✓ Outlet for Goodyear fleet services ✓ Outlet for Goodyear B2C e-commerce installation ✓ Provides footprint from which to test and expand the mobile van solution Positioned for Growth Tomorrow ✓ Significant growth expected through last-mile fleet Industry revenue in last mile services expected to grow at 10% CAGR from 2023-2032 (20% for ride sharing) Rapidly scaling retail services with branded mega-fleet customers in last-mile and automotive segments ✓ Fleet services provides opportunity to win tire business and gain significant synergies with core consumer and commercial business 10#11Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile MARGIN EXPANSION: INITIATIVES FOR ~$300M ANNUAL INCREMENTAL SOI CLEAR PATH TO CAPTURE SIGNIFICANT MARGIN OPPORTUNITIES PRIMARILY VIA PRICE-MIX IN NORTH AMERICA Optimize Brand Portfolio • Pricing • SKU Rationalization • Optimize brand/tier positioning (Goodyear premium, Cooper mid-tier) Capitalize on product strengths to drive premium pricing Rationalize lower-tier SKU portfolio 11 Address Low Margin Business • Fix or Exit • Reduce exposure to lower-tier products and low-margin customers • Use price and/or mix to increase customer/channel profitability Exit product lines where margin potential is structurally limited Expand Premium Volume Capture Market Opportunities • Enhance market coverage in Goodyear premium product lines Build on leadership position in All Terrain Capture disproportionate share of growth in high-value premium segments (>=18"; All-Season, UHP, SUV, and EV)#12Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile MARGIN EXPANSION: $1B COST REDUCTION WORKSTREAMS WITH CLEAR LINE-OF-SIGHT TO 100% OF THE COST SAVINGS BY 2025 ENABLED BY -$1.1 BILLION OF RESTRUCTURING TO ACHIEVE THE COST REDUCTION Footprint Actions and Plant Optimization • Initiatives driving component simplification, increased product standardization and fewer changeovers, enhanced predictive maintenance, labor productivity and ongoing footprint actions ⚫ SKU rationalization to reduce complexity and enable increased plant efficiency Purchasing • Reduction in raw materials costs via "clean sheet" approach to identify and negotiate best-in-class prices • Vendor + spend consolidation ⚫ Rigorous data-driven negotiations ⚫ Material substitution and consolidation SAG • Growth in low cost/off- shore shared service centers ⚫ Lean / best-in-class organizational structure for lower cost and increased efficiency • Increased automation of transactions via IT / AI • Refined marketing and other non-FTE spend Supply Chain and R&D ⚫ Digital inventory and logistics planning, virtual R&D prototyping and increased efficiency • Optimize logistics to reduce less-than- truckload shipments • Establish offshore product development centers 12 40% 35% 20% 5%#13Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile MARGIN EXPANSION: CREATING FUEL FOR GROWTH FOCUSED ON ACCOUNTABILITY WITH DETAILED ACTIONS AND CLEAR TIMELINE TO ACHIEVE 10% SOI MARGIN AND OPTIMIZE GOODYEAR'S STRATEGIC AND COMPETITIVE POSITIONING 2.5% 1.5% 12.5% (2.5%) 5.0% 10.0% +$0.3B SOI ($0.2B) Sales ($0.5B) SOI² -7.0% (1.0%) 6.5% ($0.3B) SOI ($1.9B) Sales +$1.0B SOI H12023A 03 2023A Q4 2023E Potential Divestiture Impact Cost Reduction Volume/ Price/ Pro Forma SOI Margin Mix Non-Raw Material Inflation 04 2025E Run Rate Target 1 Enabled by -$1.1B of restructuring inclusive of -$400M of previously announced rationalization programs. 2 Assumes -3% non-raw material inflation per year before any potential benefit of pricing. 13#14Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile ADDRESSING LEVERAGE: STRENGTHENING OUR PROFILE THE COMBINATION OF DEBT REDUCTION AND EBITDA GROWTH WILL BRING OUR NET LEVERAGE IN-LINE WITH U.S. AUTO SUPPLIERS -4.0x Goodyear Net Leverage 2.0x - 2.5x net leverage by 2025, in-line with leverage profile of publicly listed U.S. auto suppliers Debt Reduction 2.0x-2.5x EBITDA Growth -$1.5B reduction in debt by 2025; targeting investment grade balance sheet 2023E 2025E 1 -$1.5B debt reduction is net of -$1.1B for restructuring (inclusive of -$400M of previously announced programs). -$200M for taxes and transaction costs on sale proceeds and -$100M for fees/other costs impacting Corporate Other. 14#15Portfolio Optimization: Sharpening our Focus Margin Expansion: Creating Fuel for Growth Addressing Leverage: Strengthening our Profile GOODYEAR FORWARD: PAVING THE WAY Leveraging Our Existing Strengths... Rich legacy of trusted products and services Industry-leading technology bolstered by two world-class innovation centers Largest tire company in North America ✓ Expansive network of distribution partners ...To Position Ourselves as a Leader for Future Growth... Ability to capitalize on emerging industry megatrends ✓ #1 position in the most attractive U.S. consumer replacement market ...With Higher Profitability and Greater Financial Flexibility ✓ Streamlined organization and portfolio ✓ Substantially increased profitability ✓ Focused on high-margin profit pools ✓ Increased balance sheet flexibility MORE FOCUSED PORTFOLIO OF LEADING BRANDS, MORE PROFITABLE WITH GREATER FINANCIAL FLEXIBILITY ElectricDrive GOOD YEAR MAN 301500 15#161 GOODYEAR FORWARD: KEY FINANCIALS SUMMARY 2023E1 Annualized 04 2025 2 %-Volume Growth -(5%) Low single-digit growth Segment Operating Income $0.9B ~$1.9B % - Margin -5% Adjusted EBITDA %-Margin -$1.8B -9% Adjusted Free Cash Flow 3 -$100M Net Leverage Estimates based on street consensus as of Nov. 10, 2023. ~4.0x -10% -$2.7B -14% $600-$700M 2.0x-2.5x4 2 Run rate financials pro forma for expected sale of announced divestiture candidates and based on 04 2025 annualized profitability levels, assuming normal industry conditions. 3 Adjusted Free Cash Flow is the company's Cash Flows from Operating Activities as determined in accordance with U.S. GAAP, with rationalization payments added back, less capital expenditures. 4 Reflects net leverage target for year-end 2025. 16#17GOODYEAR FORWARD: DRIVING SHAREHOLDER VALUE THE INITIATIVES ANNOUNCED TODAY ARE A KEY MILESTONE ON OUR JOURNEY TO DRIVE MEANINGFUL VALUE CREATION 17 Streamlined portfolio, resulting in incremental value unlock ✓ Executing strategic review for selected assets, targeting gross proceeds in excess of $2.0B Doubling our current operating margins to 10% by the end of 2025 ✓ $1.3B benefits from cost-reduction and top-line actions Net leverage target of 2.0x - 2.5x by 2025 driven by debt reduction and margin expansion ✓ Aligned with U.S. auto suppliers Increased financial flexibility and sustainable free cash flow generation ✓ Positioned for profitable growth in traditional markets and new mobility opportunities#18APPENDIX GOOD YEAR#19USE OF HISTORICAL AND FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES This presentation includes non-GAAP financial measures, including Total Segment Operating Income and Margin, Free Cash Flow, Adjusted Free Cash Flow, Adjusted EBITDA and Margin, and Net Leverage, which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP. Total Segment Operating Income is the sum of the individual strategic business units' (SBUS') Segment Operating Income as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income and Margin are useful because they represent the aggregate value of income created by the company's SBUS and exclude items not directly related to the SBUS for performance evaluation purposes. The most directly comparable U.S. GAAP financial measures to Total Segment Operating Income and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is calculated by dividing Goodyear Net Income (Loss) by Net Sales). Free Cash Flow is the company's Cash Flows from Operating Activities as determined in accordance with U.S. GAAP, less capital expenditures. Management believes that Free Cash Flow is useful because it represents the cash generating capability of the company's ongoing operations, after taking into consideration capital expenditures necessary to maintain its business and pursue growth opportunities. Adjusted Free Cash Flow is the company's Cash Flows from Operating Activities as determined in accordance with U.S. GAAP, with rationalization payments added back, less capital expenditures. Management believes that Adjusted Free Cash Flow is useful because it represents the cash generating capability of the company's ongoing operations, before cash payments related to rationalization activities and after taking into consideration capital expenditures necessary to maintain its business and pursue growth opportunities. The most directly comparable U.S. GAAP financial measure for Free Cash Flow and Adjusted Free Cash flow is Cash Flows from Operating Activities. Adjusted EBITDA is Net Income (Loss), as determined in accordance with U.S. GAAP (the most directly comparable U.S. GAAP financial measure to Adjusted EBITDA), before interest expense, income tax expense, depreciation and amortization expense, rationalization charges, and other (income) and expense. Adjusted EBITDA Margin is Adjusted EBITDA divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Adjusted EBITDA and Margin is widely used by investors as a means of evaluating the company's operating performance. Net Leverage is the company's total debt less cash and cash equivalents as determined in accordance with U.S. GAAP divided by Adjusted EBITDA. Management believes that the ratio of net debt to Adjusted EBITDA, or similar ratios, are widely used by investors as a means of evaluating the company's leverage. It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly-titled measures reported by other companies. We are unable to present a quantitative reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures because management cannot reliably predict all of the necessary components of those U.S. GAAP financial measures without unreasonable effort. Those forward-looking non-GAAP financial measures, or components thereof, would be reconciled to Net Income (Loss). which includes several significant items that are not included in the comparable non-GAAP financial measures, such as rationalization charges, other (income) and expense, pension curtailments and settlements, and income taxes. The decisions and events that typically lead to the recognition of these and other similar non-GAAP adjustments, such as a decision to exit part of our business, acquisitions and dispositions, capital expenditures, foreign currency exchange gains and losses, financing fees, actions taken to manage our pension liabilities, and the recording or release of tax valuation allowances, are inherently unpredictable as to if or when they may occur. The inability to provide a reconciliation is due to that unpredictability and the related difficulty in assessing the potential financial impact of the non-GAAP adjustments. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to our future financial results. 19#20RECONCILIATION OF SEGMENT OPERATING INCOME & MARGIN (in millions) Total Segment Operating Income Less: Rationalizations Interest Expense Three Months Ended March 31, June 30, September 30, 2023 2023 2023 $ 125 $ 124 $ 336 Six Months Ended June 30, 2023 S $ 249 32 72 12 198 104 127 138 138 265 Other (Income) Expense 25 36 21 61 Asset Write-Offs and Accelerated Depreciation, Net 2 11 8 13 Corporate Incentive Compensation Plans 20 20 21 21 2 41 Retained Expenses of Divested Operations 4 4 2 8 Other 15 52 26 67 Income (Loss) before Income Taxes $ (100) $ (210) $ (59) $ (310) United States and Foreign Tax Expense (Benefit) (1) (2) 25 25 (3) Less: Minority Shareholders' Net Income 2 - 5 2 Goodyear Net Income (Loss) $ (101) $ (208) $ (89) $ (309) Net Sales Return on Net Sales Total Segment Operating Margin ss 4,941 $ 4,867 $ 5,142 S $ 9,808 -2.0% -4.3% -1.7% -3.2% 2.5% 2.5% 6.5% 2.5% 20 20#21GOOD YEAR