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3Q 2020 Financial Performance Overview

Revised 2020 Financial Outlook • Full Year Sales Adjusted EBITDA as disclosed on October 30, 2020 Revised 2020 Financial Targets Adjusted Free Cash Flow ≈ $4.6 billion $665 $680 million - $220 - $235 million AAM's updated 2020 full year financial targets are based on current customer schedules and assume that there are no significant impacts to our expected production or costs related to COVID-19 or the recent fire at our Malvern Manufacturing Facility through the remainder of 2020 • AAM expects restructuring and acquisition-related cash payments to be between $55 and $70 million For definitions of Adjusted EBITDA and Adjusted Free Cash Flow and Non-GAAP reconciliations, please see the attached appendix AAM (®) 15

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