BRINGING THE FUTURE AAM FASTER
Updated 2021 Financial Outlook
(as of November 5, 2021)
BRINGING THE FUTURE
AAM FASTER
Full Year Sales
Adjusted EBITDA
Adjusted Free Cash Flow
2021 Financial Targets
$5.15 to $5.25 billion
$830 to $850 million
~$400 million
Sales range includes approximately $300 million increase of metal market customer pass-throughs and
foreign currency versus last year
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Adjusted Free Cash Flow target assumes capital spending of less than 4.0% of sales
These targets are based on North American light vehicle production of approximately 13 million units,
current customer production and launch schedules and business environment
AAM expects restructuring and acquisition-related cash payments to be between $55 and $65 million
Note: For definitions of Adjusted EBITDA and Adjusted Free Cash Flow and Non-GAAP reconciliations, please see the attached appendix
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