Investor Presentaiton

68 Adjusted EBITDA Reconciliation ($mm) Operating Income 2021 2022 PF 2022 $174 $318 $285 Operating Margin% 5.4% 9.5% 8.3% 1 (+) Merger, Acquisition and Divestiture Expense 7 31 31 1 2 (+) Restructuring Expense 55 59 11 11 3 (+) Asset Impairments, Write-offs 17 5 01 5 and Lease Modifications (+) Intangible Asset Amortization (+) Other Adjusted Operating Income 29 29 28 28 -- 2 2 $282 $395 $362 Adjusted Operating Margin% 8.7% 11.8% 10.5% (+) Depreciation 175 142 142 Adjusted EBITDA $457 $537 $504 Adjusted EBITDA Margin% 13.7% 15.6% 14.6% Key Adjustments 2 Add-back of non-recurring M&A expenses primarily related to professional fees associated with the Spin-Off and the Delphi acquisition Add-back of non-recurring restructuring expenses: ■ 2022 expenses primarily relate to equipment relocation and professional fees 2021 expenses relate to Delphi's legacy restructuring plan to reshape and realign its global technical center footprint and reduce salaried and contract staff 3 2021 relates to the impairment of an Aftermarket tradename and a right-of-use lease asset in China. 2022 relates to the impairment of intangible assets associated with the wind down of the Company's business in Russia PHINIA

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