Investor Presentaiton

3Q 2018 Year-Over-Year Adjusted EBITDA Walk (in millions) AAM $298 3Q 2017 Adjusted EBITDA $19 ($2) ($12) ($30) ($11) $13 $275 Backlog/Volume & Mix Metal Market & Fx Tariffs Material, Freight & Project and Launch- Related Costs Performance, Labor Costs & Other Synergies 3Q 2018 Adjusted EBITDA 36 * For definitions of terms and non-GAAP reconciliations, please see the attached appendix.

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