Slides
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APTIV November 3, 2026 Third Quarter 2026 Earnings Call
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Forward Looking Statements This presentation, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; global inflationary pressures; uncertainties created by the conflict between Ukraine and Russia, and its impacts to the European and global economies and our operations in each country; uncertainties created by the conflicts in the Middle East, including the Iran war, and their impacts on global economies; fluctuations in interest rates and foreign currency exchange rates; the cyclical nature of global automotive sales and production; the potential disruptions in the supply of and changes in the competitive environment for raw material and other components integral to the Company’s products, including the ongoing semiconductor supply shortage; the Company’s ability to maintain contracts that are critical to its operations; potential changes to beneficial free trade laws and regulations, such as the United States-Mexico-Canada Agreement; the effects of significant increases in trade tariffs, import quotas and other trade restrictions or actions, including retaliatory responses to such actions; changes to tax laws; future significant public health crises; the ability of the Company to integrate and realize the expected benefits of recent transactions; the ability of the Company to attract, motivate and/or retain key executives; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers; and the ability of the Company to attract and retain customers. Additional factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. Aptiv disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law. Unless otherwise indicated, all revenue growth rates referenced in this presentation are adjusted, excluding impact of foreign exchange and commodities. Additionally, year-over-year comparisons are based on Q3 2025 Pro Forma New Aptiv results and not Q3 2025 Continuing Operations results, as reported in the 10-Q. See appendix for detail and reconciliation to US GAAP. 2 Q3-2026 Earnings | November 3, 2026 | Aptiv
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Note: 1. Adjusted revenue growth excludes impact of foreign exchange and commodities. 2. Represents global vehicle production weighted to the geographic regions in which the Company generates its revenue. PRODUCT PORTFOLIOCAPITAL ALLOCATIONFINANCIALS New awards across regions, diversifying into high-growth end markets Solid Q3 results; FY-2026 revenue & earnings guidance maintained Delivering on commitment to share repurchases 3 Q3-2026 Earnings | November 3, 2026 | Aptiv • ~$4B in new commercial awards • $1.6B Intelligent Systems • $2.3B Engineered Components • >20% of YTD China bookings on export programs • YTD Non-Auto bookings more than doubled YoY • Revenue growth of +2%1 • Auto (1%)1, in line vehicle production2 growth • Non-Auto +11%1, driven by Other Industrials • Maintained FY-2026 income statement guidance, supported by strength in Q3 • Repurchased $233M of shares in Q3, bringing YTD total to $558M • Committed to return at least $650 million through repurchases in FY-26 Q3-2026 Financial and Operational Highlights
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AWARDS • ADAS System: L2 ADAS system, including software features, powered by local SoC3 for leading Chinese OEM • Next-Gen Radar: Advanced radar for leading China OEM L2++ ADAS system • High-Performance Cable Mgmt.: Conquest win with major Japanese OEM • Modular Connectors: Award for multiple carlines for next-gen platform of major European OEM • Integrated Cockpit Controllers: Central compute solutions for Chinese OEM EU and global market export programs LAUNCHES • Next-Gen ADAS1 Smart Camera: Mass production for EU-market program with leading China OEM • High-Speed Components and Assemblies: Major launches for NA and Korean OEM flagship platforms • Advanced Radar: Multiple launches across Korean and Japanese OEM platforms • Zone Controller: Compute for next-gen architecture for Chinese OEM • HV2 Interconnect: Multiple launches for next-gen EV platforms across global OEMs Automotive Market Highlights FOCUSED EXECUTION TO DRIVE SUSTAINED GROWTH Notes: Launches and awards are selective and illustrative, not exhaustive. 1. ADAS = Advanced Driver Assistance Systems. 2. HV = High-Voltage. 3. SoC = System-on-Chip. 4 Q3-2026 Earnings | November 3, 2026 | Aptiv
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AWARDS • Drones: First award with leading drone manufacturer, providing high- performance perception and compute systems, incl. interconnects • Robotics: High-performance compute and interconnects for a Chinese OEM • Data Center / Energy Storage: High-performance interconnects and assemblies for next-gen AI compute infrastructure • Medical Device: Multi-year high-performance cable assembly award • Telecom: Software for leading telecom provider networking infrastructure LAUNCHES Strategic Partnerships: • Physical AI with NVIDIA: Expanded to include Jetson Orin Nano 2 support, accelerating production-ready systems deployment • AI-RAN1: Wind River Cloud Platform supporting Samsung’s AI-RAN for Korea’s national program Program Launches: • Optimized Power Distribution: High- and low- voltage launches for next-gen global CV platforms • Radar: First NA launch with major CV OEM, enabling next-gen capabilities Non-Automotive Market Highlights EXPANDING ACROSS DIVERSE END MARKETS Notes: Launches and awards are selective and illustrative, not exhaustive. 1. AI-RAN = Artificial Intelligence Radio Access Network. 5 Q3-2026 Earnings | November 3, 2026 | Aptiv
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Looking Ahead: Macro Backdrop CAUTIOUS VIEW OF 2027 BASED ON DYNAMIC ENVIRONMENT 6 Q3-2026 Earnings | November 3, 2026 | Aptiv OPPORTUNITIES & CATALYSTS CHALLENGES & UNCERTAINTIES • Significant material cost inflation in semiconductors and other key materials • Consumer affordability challenges from increased MSRPs1 and higher lease rates • Dynamic trade and tariff landscape • Auto challenges reinforce need for flexible, modular, and cost-optimized solutions backed by resilient supply chain • Auto portfolio provides foundation for growth in newer end markets • Global development, industrialization, and manufacturing footprint enabling regionalized solutions for customers 1. MSRP = Manufacturer’s Suggested Retail Price.
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• Adj. revenue growth / vehicle production growth: • NA: +5% / (4%) • Europe: (5%) / +1% • APAC: +5% / (1%) • China: +1% / (6%) Q3-2026 vs. Q3-2025 REVENUE ADJUSTED GROWTH1 EBITDA2 EBITDA MARGIN EARNINGS PER SHARE2 FREE CASH FLOW Q3-2026 Fav / (Unfav) – vs. Pro Forma COMMENTARY • Product mix with lower software revenue • 40bps YoY headwind from FX and commodities • Investments supporting organic growth initiatives • Lower operating income of ($0.16) • Lower tax impact of +$0.02 • Lower share count benefit of +$0.07 $3,199 $65 2% ($ Millions, except per share amounts) $567 17.7% ($31) (140) BPS $1.42 ($0.06) $194 N/A Notes: 1. Adjusted revenue growth excludes impact of foreign exchange and commodities. 2. EBITDA and EPS adjusted for restructuring and other special items. See Appendix for detail and reconciliation to US GAAP. RECORD THIRD QUARTER REVENUES DROVE RESULTS IN LINE WITH GUIDANCE 7 Q3-2026 Earnings | November 3, 2026 | Aptiv
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ENGINEERED COMPONENTS Q3-2026 Consolidated and Segment Recap Notes: 1. Revenue growth excludes impact of foreign exchange and commodities. 2. Adjusted for restructuring and other special items. See Appendix for detail and reconciliation to US GAAP. INTELLIGENT SYSTEMS REVENUE GROWTH DRIVEN BY NON-AUTO; EBITDA MARGIN DRIVERS IN LINE WITH EXPECTATIONS CONSOLIDATED APTIV $ Millions % of Sales $ Millions % of Sales $ Millions % of Sales REVENUE EBITDA2 $219 15.2% $180 12.8% 3Q 25 3Q 26 $1,442 $1,402 3Q 25 3Q 26 • Auto (4%); Non-Auto +3% • Decline in Europe, partially offset by growth in North America and Asia Pacific • Margin decline driven by lower revenue, and timing of engineering credits, partially offset by performance (3%)1 REVENUE EBITDA2 REVENUE EBITDA2 $1,714 $1,835 3Q 25 3Q 26 • Auto +2%; Non-Auto +16% • Growth in North America, Europe, and Asia Pacific • Margin decline driven by commodity headwind, partially offset by flow- through on volume 6%1 $379 22.1% $387 21.1% 3Q 25 3Q 26 $3,134 $3,199 3Q 25 3Q 26 $598 19.1% $567 17.7% 3Q 25 3Q 26 2%1 (5%) (18%) 2% 8 Q3-2026 Earnings | November 3, 2026 | Aptiv
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REVENUE ADJUSTED GROWTH1 EBITDA2 EBITDA MARGIN EARNINGS PER SHARE2 FREE CASH FLOW $3,110 – $3,210 3% $12,650 – $12,750 2% ($ Millions, except per share amounts) $582 – $642 19.4% $2,310 – $2,370 18.4% $1.35 – $1.55 $5.60 – $5.80 (~18% tax rate) $625 – $675 Q4-2026 FULL YEAR 2026 PRO FORMA Notes: 1. Adjusted revenue growth at midpoint of guidance; excludes impact of foreign exchange and commodities. FY-2026 FX and Commodity assumptions as follows: Copper = 6.40, USD/MXN = 17.25, EUR/USD = 1.16, USD/CNY = 6.75. 2. EBITDA and EPS adjusted for restructuring and other special items. See appendix for detail and reconciliation to US GAAP. FY-2026 and Q4-2026 Financial Guidance MAINTAINING 2026 INCOME STATEMENT GUIDE; LOWERING FREE CASH FLOW TO REFLECT MATERIAL INFLATION 9 Q3-2026 Earnings | November 3, 2026 | Aptiv
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REVENUE AND ADJUSTED GROWTH1 RANGE Early Outlook for 2027 INCREMENTAL CONSERVATISM EMBEDDED GIVEN AUTOMOTIVE ENVIRONMENT $12.7 ~$13.2 ~$13.5 2026E 2027E Adj. growth: ~6% / GVP2 0% ADJUSTED EBITDA3 MARGIN RANGE 10 Q3-2026 Earnings | November 3, 2026 | Aptiv ($ Billions) Notes: 1. Adjusted Revenue Growth at Midpoint of Guidance; excludes impact of foreign exchange and commodities. 2. GVP = Global vehicle production weighted to the geographic regions in which the Company generates its revenue 3. EBITDA and EPS adjusted for restructuring and other special items. See appendix for detail and reconciliation to US GAAP. 18.4% ~17.2% (1.0%) ~17.5% 2026E 2027E • Material cost inflation recoveries: $0.7B related to Semiconductors--principally Memory • Impact of EU headwind: ($0.3B) related to net program roll-off and lower exports from EU to China Adj. growth: ~4% / GVP2 (2%) Dilution from recoveries related to material inflation • Incremental margin of 26-27% on revenue growth ex. recoveries • Net headwind from FX and commodities of ~30bps
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Execution to Deliver Shareholder Value Leveraging our differentiated portfolio to deliver performance and cost benefits while adapting to macro environment Evaluating business and product portfolio in light of changing market environment Further diversifying our revenue mix through penetration of target OEMs and growth in Non-Auto markets Delivering on commitment to shareholders by planning to return 100% of free cash flow through YE-27 11 Driving strong operating performance through our best-in-class operating model Q3-2026 Earnings | November 3, 2026 | Aptiv
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12 Q3-2026 Earnings | November 3, 2026 | Aptiv
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YoY Revenue Growth Metrics 13 Q3 2026 Reported net sales % change 2% Less: foreign currency exchange and commodities -% Adjusted revenue growth 2% Q3 2026 Reported Revenue Growth 2% Engineered Components Reported Revenue Growth 7% Intelligent Systems Reported Revenue Growth (3)% Adjusted Revenue Growth 2% Engineered Components Adjusted Revenue Growth (a) 6% Intelligent Systems Adjusted Revenue Growth (a) (3)% a) Adjusted revenue growth excludes impact of foreign exchange and commodities. Q3-2026 Earnings | November 3, 2026 | Aptiv
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Non-US GAAP Financial Metrics: Adjusted EBITDA 14 ($ millions) Q3 2026 Pro Forma Q3 2025 Net income (loss) attributable to Aptiv 194 (355) (Loss) income from discontinued operations, net of tax - 133 Income from continuing operations 194 (488) Interest expense 59 88 Income tax expense 36 59 Net loss attributable to redeemable noncontrolling interest - - Depreciation and amortization (a) 247 193 EBITDA 536 (148) Other income, net (5) (21) Net gain on equity method transactions (19) - Equity loss, net of tax 16 9 Restructuring 8 39 Separation costs 10 2 Other acquisition and portfolio project costs 6 12 Compensation expense related to acquisitions 1 4 Goodwill impairment - 648 Operating lease asset impairment 14 - EDS spin-off (b) - 53 Adjusted EBITDA 567 598 (a) Includes fixed asset and intangible asset impairments. (b) Represents costs that were allocated to and reported within the EDS segment in historical periods that are not included in income from discontinued operations, net of tax. Q3-2026 Earnings | November 3, 2026 | Aptiv
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Non-US GAAP Financial Metrics: Adj. NI Per Share 15 ($ millions, except per share amounts) Q3 2026 Pro Forma Q3 2025 Net income (loss) attributable to Aptiv 194 (355) (Loss) income from discontinued operations, net of tax - 133 Income from continuing operations 194 (488) Adjusting items: Amortization 107 52 Restructuring 8 39 Separation costs 10 2 Other acquisition and portfolio project costs 6 12 Asset impairments 14 - Compensation expense related to acquisitions 1 4 Goodwill impairment - 648 Gain on extinguishment of debt - (3) Gain on change in fair value of publicly traded equity securities - (1) Net gain on equity method transactions (19) - Tax impact of adjusting items (a) (29) (25) Interest expense reduction (b) - 28 EDS spin-off (c) - 53 Adjusted net income attributable to Aptiv 292 321 Weighted average number of diluted shares outstanding 206.29 217.41 Diluted net income (loss) per share attributable to Aptiv 0.94 (2.24) Adjusted net income per share 1.42 1.48 (a) Represents the income tax impacts of the adjustments made for amortization, restructuring and other special items by calculating the income tax impact of these items using the appropriate tax rate for the jurisdiction where the charges were incurred. (b) In connection with the spin-off of EDS, the Company repaid approximately $2.1 billion in principal amount of debt in 2026. Reflects the reduction in interest expense in prior periods as if the debt repayment had occurred as of the first day of the respective period. (c) Represents costs that were allocated to and reported within the EDS segment in historical periods that are not included in income from discontinued operations, net of tax. Q3-2026 Earnings | November 3, 2026 | Aptiv
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Non-US GAAP Financial Metrics - Including Guidance: Free Cash Flow 16 ($ millions) Q3 2026 Net cash provided by operating activities 320 Less: capital expenditures (126) Free Cash Flow 194 ($ millions) FY 20261 Net cash provided by operating activities 1,179 Less: capital expenditures (575) Success fees paid related to spin-off (45) Cash interest reduction (a) 46 EDS spin-off (b) 45 Free Cash Flow 650 1. Prepared at the estimated mid-point of the Company's financial guidance range. FY 2026 on a New Aptiv pro forma basis. (a) In connection with the spin-off of EDS, the Company repaid approximately $2.1 billion in principal amount of debt in 2026. Reflects the reduction in cash interest paid in prior periods as if the debt repayment had occurred as of the first day of the respective period. (b) Represents cash outflows associated with costs previously allocated to and reported within the EDS segment in periods prior to the spin off that are not included in Net cash (used in) provided by operating activities from discontinued operations. Q3-2026 Earnings | November 3, 2026 | Aptiv
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Non-US GAAP Financial Guidance Metrics: Adjusted EBITDA 17 ($ millions) 4Q 20261 FY 20261 Net income attributable to Aptiv 217 845 Interest expense 65 245 Income tax expense 55 205 Net loss attributable to noncontrolling interest (a) - - Depreciation and amortization 200 830 EBITDA 537 2,125 Other income, net - (60) Net gain on equity method transactions - (25) Equity loss, net of tax 20 75 Restructuring 25 75 Other acquisition and portfolio project costs, including separation costs 30 80 Operating lease asset impairment - 15 EDS spin-off (b) - 55 Adjusted EBITDA 612 2,340 1. Prepared at the estimated mid-point of the Company's financial guidance range. FY 2026 on a New Aptiv pro forma basis. (a) Includes portion attributable to redeemable noncontrolling interest. (b) Represents costs that were allocated to and reported within the EDS segment in historical periods that are not included in income from discontinued operations, net of tax. Q3-2026 Earnings | November 3, 2026 | Aptiv
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Non-US GAAP Financial Guidance Metrics: Adjusted NI Per Share 18 ($ millions, except per share amounts) 4Q 20261 FY 20261 Net income attributable to Aptiv 217 845 Adjusting items: Amortization 55 265 Restructuring 25 75 Other acquisition and portfolio project costs, including separation costs 30 80 Asset impairments - 20 Net gain on equity method transactions - (25) Gain on extinguishment of debt - (45) Tax impact of adjusting items (27) (100) Interest expense reduction (a) - 25 EDS spin-off (b) - 55 Adjusted net income attributable to Aptiv 300 1,195 Weighted average number of diluted shares outstanding 206.00 209.00 Diluted net income per share attributable to Aptiv 1.05 4.05 Adjusted net income per share 1.45 5.70 1. Prepared at the estimated mid-point of the Company's financial guidance range. FY 2026 on a New Aptiv pro forma basis. (a) In connection with the spin-off of EDS, the Company repaid approximately $2.1 billion in principal amount of debt in 2026. Reflects the reduction in interest expense in prior periods as if the debt repayment had occurred as of the first day of the respective period. (b) Represents costs that were allocated to and reported within the EDS segment in historical periods that are not included in income from discontinued operations, net of tax. Q3-2026 Earnings | November 3, 2026 | Aptiv