DAN Q4 2025 Earnings Presentation

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February 18, 2026 2025 Fourth-Quarter & Full-Year Earnings Conference Call

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© 2026 Dana 2 Certain statements and projections contained in this presentation are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management’s beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Dana’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss important risk factors that could affect our business, results of operations and financial condition. The forward-looking statements in this presentation speak only as of this date. Dana does not undertake any obligation to revise or update publicly any forward-looking statement for any reason. Safe Harbor Statement

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© 2026 Dana 3 Craig Barber Senior Director, Investor Relations and Corporate Communications R. Bruce McDonald Chairman and Chief Executive Officer Timothy Kraus Senior Vice President and Chief Financial Officer Agenda Byron Foster Senior Vice President and President, Light Vehicle Systems

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© 2026 Dana 4 Business Overview 2025 actual results stronger than preliminary estimates  Fourth-quarter adj. EBITDA margin of 11.1%; 40 basis points higher  Full-year adj. FCF of $331 million; $16 million higher Sale of Off-Highway business completed Debt reduction on-track: nearly $2 billion in debt reduction to date Achieved $248 million cost savings in 2025  Additional ~$65 million to be realized in 2026 for a program total of ~$325 million  Expect to substantially offset ~$40 million of stranded costs in 2026 Strong new business growth of $750 million  ~$200 million in incremental new business in 2026 Capital return authorization increased Great Finish to 2025 and Strong Momentum into 2026

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© 2026 Dana 5 Shareholder Return Capital return authorization doubled to $2 billion  Repurchase authorization through 2030  Repurchased 34 million shares in 2025, or 23% of shares outstanding  Returned $704 million to shareholders in 2025  $650 million in share repurchases  $54 million in dividends  Repurchased $100 million in shares so far in 2026  Expecting 2026 share repurchases at high end of guidance range  Current shares outstanding: ~109 million Increased dividend by 20%  Quarterly dividend raised to $0.12 per share  Targeting ~$50 million in annual dividends Confidence in Long-Term Value Driving Increased Shareholder Return

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© 2026 Dana 6 3-Year Net New Sales Backlog: $750M 2026 Market Outlook and Backlog Strong New Business Backlog Primary third-party sources: S&P Global, ACT Research, Power Systems Research $500 $200 $250 $300 $200 $750 $500 $200 2028 2027 2026 Light Trucks Commercial Vehicle 2026 Market Outlook Flat Flat ($ in millions)

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© 2026 Dana 9  Lower full-year sales driven by weakening market demand across both light vehicle and commercial vehicle, partially offset by pricing actions, tariff recoveries, and currency  Increased production efficiency and company-wide cost improvement actions drove higher profitability ($ in millions) Q4 ‘25 Q4 ‘24 Change FY ‘25 FY ‘24 Change Sales $ 1,867 $ 1,774 $ 93 $ 7,500 $ 7,734 $ (234) Adjusted EBITDA 208 84 124 610 395 215 Margin 11.1% 4.7% 640 bps 8.1% 5.1% 300 bps EBIT (from cont. ops) 61 (117) 178 138 (176) 314 Interest Expense, Net 49 37 12 171 145 26 Operating Cash Flow 406 302 104 512 450 62 Changes from Prior Year 2025 Q4 and Full-Year Financial Results Margin Improvement in Challenging Demand Environment See appendix for comments regarding the presentation of non-GAAP measures

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© 2026 Dana 10 $2,335M $1,774M $1,867M$17M $27M $31M $16M 2024 As Reported ($561M) Disc Ops 2024 Cont Ops $2M Vol/Mix Performance $0M Cost Savings Tariff Currency Commodities 2025 Cont Ops $186M $84M $208M $33M $6M $74M $8M $3M 2024 As Reported ($102M) Disc Ops 2024 Cont Ops Vol/Mix Performance Cost Savings Tariff Currency $0M Commodities 2025 Cont Ops  Results are presented excluding the Off-Highway business, which is classified as discontinued operations  Year-over-year light-vehicle growth offset by weaker commercial-vehicle markets  Improved cost performance and operating efficiency efforts drove significant margin expansion  Modest tariff benefit due to timing of recoveries  Currency was a benefit largely driven by the euro Sales Adjusted EBITDA 11.1% Margin 2025 Q4 Sales and Profit Changes Continued Performance Execution and Cost Actions Driving Significant Margin Expansion See appendix for comments regarding the presentation of non-GAAP measures 4.7% Margin

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© 2026 Dana 11 $10,284M $7,734M $7,500M$81M $102M $28M $19M 2024 As Reported ($2,550M) Disc Ops 2024 Cont Ops Vol/Mix Performance $0M Cost Savings Tariff Currency Commodities 2025 Cont Ops ($464M) $885M $395M $610M $90M $248M $3M 2024 As Reported ($490M) Disc Ops 2024 Cont Ops ($112M) Vol/Mix Performance Cost Savings ($14M) Tariff Currency $0M Commodities 2025 Cont Ops  Results are presented excluding the Off-Highway business, which is classified as discontinued operations  Reduced year-over-year volumes largely driven by lower demand in all end markets  Commercial actions and operating efficiency efforts mitigated the margin impact of lower volume and unfavorable mix  Accelerated cost savings actions more than offset the margin gap from lower sales volume  Modest tariff impact due to timing of recoveries  Commodities impact was minimal give market stability and our customer recovery mechanisms Sales Adjusted EBITDA 8.1% Margin 2025 Full-Year Sales and Profit Changes Operational Efficiencies and Accelerated Cost Actions More Than Offset Volume and Tariff Impacts See appendix for comments regarding the presentation of non-GAAP measures 5.1% Margin

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© 2026 Dana 12 2025 Full-Year Adjusted Free Cash Flow  Adjusted free cash flow includes cash generated from both continuing and discontinued operations, to align with Off-Highway deal structure  Full-year adjusted free cash flow above prior year due to increased profit, working capital management, and significantly lower capital spending  One-time costs increased due to restructuring and strategic transactions  Higher interest due to increased borrowing that funded our capital return program in advance of Off- Highway sale proceeds  Capital spending driven by new program timing 1 Includes costs associated with business acquisitions and divestitures and restructuring. 2 Changes in working capital relating to interest, taxes, restructuring, and transaction costs are included in those respective categories. See appendix for comments regarding the presentation of non- GAAP measures. Changes from Prior Year ($ in millions) 2025 2024 Change Adjusted EBITDA Cont. Ops $ 610 $ 395 $ 215 Adjusted EBITDA Disc. Ops 404 490 (86) One-Time Costs1 (72) (42) (30) Interest, Net (165) (149) (16) Taxes (177) (174) (3) Working Capital / Other² (13) (70) 57 Capital Spending, Net (256) (369) 113 Adjusted Free Cash Flow $ 331 $ 81 $ 250 Higher Adj. FCF Driven by Higher Profit, Lower Capital Spend, and Working Capital Efficiency

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© 2026 Dana 13 2026 Financial Guide  Sales expected to be consistent with last year, as increased backlog and recoveries offset lower market demand and product mix  Adjusted EBITDA expected to increase by $200 million, driven by cost savings, operational improvements, and higher margin new business  Adjusted Free cash flow consistent with last year, as benefits of the Off-Highway divestiture offset the lower earnings  Diluted adj. EPS guidance is based on 108.7 million weighted average shares. Guidance does not assume future buybacks 2026 Guidance Ranges Increased Profit Driven by New Business, Operating Efficiencies, and Cost Savings Guidance Change From 2025 Sales ~$7.5B ±$200M Adjusted EBITDA ~$800M ±$50M Implied adjusted EBITDA margin ~10.0% to ~11.0% Diluted adjusted EPS ~$2.50 ±$0.50 Adjusted free cash flow ~$300M ±$50M ~$190M ~250 bps Consistent Consistent* *2025 included cash flow from discontinued operations 2026 Currency Assumptions  EUR: 1.16 USD/EUR  INR: 87.00/USD  BRL: 5.50/USD  MXN: 18.50/USD  THB: 32.28/USD Reinstated Guidance

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© 2026 Dana 14 ~$50M ~$60M ~$15M 2025 (~$95M) Vol/Mix (~$30M) Performance ~$0M Cost Savings Tariff Currency Commodities 2026 Target $7,500M ~$7,500M ~$20M ~$100M ~$65M ~$10M ~$5M 2025 Vol/Mix Performance Cost Savings Tariff Currency (~$15M) Commodities 2026 Target $610M ~$800M  Favorable mix on slightly lower volumes driven by sales backlog yielding better decremental margins  Operating efficiency actions expected to deliver additional margin growth  Remaining cost savings actions to provide further margin improvement  Modest tariff impact due to timing of recoveries  Commodity price increases driving slight margin headwinds due to timing of recoveries Sales Adjusted EBITDA ~10.6% Margin 2026 Full-Year Sales and Profit Changes Operational Efficiencies and Accelerated Cost Actions Drive Margin Expansion See appendix for comments regarding the presentation of non-GAAP measures 8.1% Margin Includes ~$40m of stranded cost elimination

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© 2026 Dana 15 2026 Full-Year Adjusted Free Cash Flow  Adjusted free cash flow in 2025 includes cash generated from both continuing and discontinued operations, to align with deal structure  Lower one-time costs, net interest, taxes, and working capital of New Dana offset nearly all of the loss of profit from the divested business  Higher capital spending driven by timing of new business launches and investments supporting operational improvements and automation 1 Includes costs associated with business acquisitions and divestitures and restructuring. 2 Changes in working capital relating to interest, taxes, restructuring, and transaction costs are included in those respective categories. See appendix for comments regarding the presentation of non- GAAP measures. Changes from Prior Year ($ in millions) 2026 2025 Change Adjusted EBITDA Cont. Ops $ ~800 $ 610 $ ~190 Adjusted EBITDA Disc. Ops 404 (400) One-Time Costs1 (30) (72) 40 Interest, Net (70) (165) 95 Taxes (100) (177) 75 Working Capital / Other² 25 (13) 40 Capital Spending, Net (325) (256) (70) Adjusted Free Cash Flow $ ~300 $ 331 $ ~(30) Maintained Cash Flow Post-Divestiture

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© 2026 Dana 16 Source: Dana ($ in millions) Strong Balance Sheet $218 $227 $489 $198 2025 2026 2027 2028 2029 2030 2031 2032 USD Debt EUR Debt Ample Liquidity and Further Actions Reduced Debt Capital Strengthened Balance Sheet Through Significant Debt Reduction Actions $400 $400 $218 $227 $489 $198 $164 $173 $10 $152 $390 2025 $225 2026 2027 2028 2029 2030 2031 2032 Term Loan USD Debt EUR Debt Drawn RCF Reduced Debt by ~$1.9 Billion Less Than 1x Net Leverage Through 2026  Cash balance of $659 million1 as of Jan. 31  Expect average cash balance of ~$400 million  Revolver capacity of $1.15 billion as of Jan. 31  Liquidity of $1.8 billion as of Jan. 31  Expect lower liquidity requirements this year  Balance sheet improvements under consideration  Right-size revolver capacity  Optimize real estate lease portfolio  Continue to evaluate / divest non-core operations  Debt ratings upgrades by Fitch and S&P Prior Current 1Available cash and cash equivalents

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© 2026 Dana 17 2030 Financial Targets 2030 Financial Targets Aftermarket Growth Manufacturing Excellence Traditional Product Growth Structural Cost Reduction Sales ~$10 billion ~33% Adj. EBITDA Margin 14%-15% ~400 bps Adj. FCF Margin ~6% ~200 bps Share Repurchase Target Through 2030 2025 $650 million 2026-2030 ~$1.35 billion Total ~$2.0 billion Completed Up to$300M in 2026 vs. mid 2026 Guide vs. mid 2026 Guide vs. mid 2026 Guide 20% Dividend Per Share Increase in 2026 See appendix for comments regarding the presentation of non-GAAP measures EV and Applied Technologies Growth

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© 2026 Dana 20 $53M $90M $22M $13M ($211M) $0M $5,250M $5,217M $334M $466M $87M $99M $1M 2024 ($49M) Vol/Mix Performance* Cost Savings ($6M) Tariff Currency $0M Commodities 2025 Sales Adjusted EBITDA 6.4% 2025 Full-Year Sales and Profit Change by Segment Light Vehicle Systems $28M $12M $6M $6M ($253M) $0M $2,484M $2,283M $134M $199M $81M $53M $2M 2024 ($63M) Vol/Mix Performance* Cost Savings ($8M) Tariff Currency $0M Commodities 2025 Sales Adjusted EBITDA 3.2% Commercial Vehicle Systems 5.9% 5.4% 8.9% 8.7% See appendix for comments regarding the presentation of non -GAAP measures *Corporate cost savings of $96M are allocated to the product groups in performance

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© 2026 Dana 21 Segment Sales Profiles 44% 18% 8% 5% 4% 21% Ford Stellantis N.V. Toyota Renault/Nissan Tata Other Customers 70% 14% 12% 4% North America Europe South America Asia Pacific Regions 39% 33% 20% 8% North America Europe South America Asia Pacific Regions Light Vehicle Systems YTD 12/31/2025 Commercial Vehicle Systems YTD 12/31/2025 16% 12% 10% 7% 51% 4% PACCAR Volkswagen (Traton) Ab Volvo Daimler Ford Other Customers

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© 2026 Dana 22 Segment Data DA NA INCORPORA TED Segment Sales and Adjusted EBITDA (Unaudited) For the Three Months Ended December 31, 2025 and 2024 (In millions) 2025 2024 Sales Light Vehicle 1,316$ 1,201$ Commercial Vehicle 551 573 Total Sales 1,867$ 1,774$ Adjusted EBITDA Light Vehicle 160$ 84$ Commercial Vehicle 60 17 Corporate expense and other items, net (12) (17) Adjusted EBITDA 208$ 84$ Three Months Ended December 31, DA NA INCORPORA TED Segment Sales and Adjusted EBITDA (Unaudited) For the Year December 31, 2025 and 2024 (In millions) 2025 2024 Sales Light Vehicle 5,217$ 5,250$ Commercial Vehicle 2,283 2,484 Total Sales 7,500$ 7,734$ Adjusted EBITDA Light Vehicle 466$ 334$ Commercial Vehicle 199 134 Corporate expense and other items, net (55) (73) Adjusted EBITDA 610$ 395$ Year Ended December 31,

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© 2026 Dana 23 Segment Data Continued DA NA INCORPORA TED Reconciliation of Loss From Continuing Operations Before Income Taxes to Adjusted EBITDA (Unaudited) For the Year December 31, 2025 and 2024 (In millions) 2025 2024 Income (loss) from continuing operations before income taxes 12$ (154)$ Adjustments related to continuing operations Interest income (2) (4) Interest expense 51 41 Depreciation 88 84 Amortization 3 3 Non-service cost components of pension and OPEB costs 4 5 Restructuring charges, net 6 34 Stock compensation expense 9 9 Strategic transaction expenses 1 Loss on sale of property, plant and equipment 1 Electric vehicle program termination charges 36 Supplier capacity charge adjustment 46 Loss on divestiture of ownership interests 2 Amounts attributable to previously closed/divested operations 9 Other items (1) 9 Adjusted EBITDA 208$ 84$ Three Months Ended December 31, DA NA INCORPORA TED Reconciliation of Loss From Continuing Operations Before Income Taxes to Adjusted EBITDA (Unaudited) For the Year December 31, 2025 and 2024 (In millions) 2025 2024 Loss from continuing operations before income taxes (33)$ (321)$ Adjustments related to continuing operations Interest income (10) (13) Interest expense 181 158 Depreciation 345 337 Amortization 12 13 Non-service cost components of pension and OPEB costs 11 17 Restructuring charges, net 23 70 Stock compensation expense 40 30 Strategic transaction expenses 12 3 Loss on sale of property, plant and equipment 1 Electric vehicle program termination charges 36 Supplier capacity charge adjustment (21) 46 Loss on divestiture of ownership interests 9 Loss on disposal group previously held for sale 26 Amounts attributable to previously closed/divested operations 9 Other items 5 19 Adjusted EBITDA 610$ 395$ Year Ended December 31,

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© 2026 Dana 24 Cash Flow DA NA INCORPORA TED Reconciliation of Net Cash Provided By Operating Activities to Adjusted Free Cash Flow (Unaudited) (In millions) 2025 2024 Net cash provided by operating activities 406$ 302$ Purchases of property, plant and equipment - Continuing operations (61) (114) Purchases of property, plant and equipment - Discontinued operations (23) (39) Proceeds from sale of property, plant and equipment - Continuing operations 1 4 Proceeds from sale of property, plant and equipment - Discontinued operations 1 - Cash paid for Off-Highway business divestiture related activities 14 - Adjusted free cash flow 324$ 153$ (In millions) 2025 2024 Net cash provided by operating activities 512$ 450$ Purchases of property, plant and equipment - Continuing operations (214) (312) Purchases of property, plant and equipment - Discontinued operations (56) (68) Proceeds from sale of property, plant and equipment - Continuing operations 13 7 Proceeds from sale of property, plant and equipment - Discontinued operations 1 4 Cash paid for Off-Highway business divestiture related activities 75 - Adjusted free cash flow 331$ 81$ Three Months Ended December 31, Year Ended December 31,

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© 2026 Dana 25 Adjusted EBITDA is a non-GAAP financial measure which we have defined as net income (loss) before interest, income taxes, depreciation, amortization, equity grant expense, restructuring expense, non-service cost components of pension and other postretirement benefit costs and other adjustments not related to our core operations (gain/loss on debt extinguishment, pension settlements, divestitures, impairment, etc.). Adjusted EBITDA is a measure of our ability to maintain and continue to invest in our operations and provide shareholder returns. We use adjusted EBITDA in assessing the effectiveness of our business strategies, evaluating and pricing potential acquisitions and as a factor in making incentive compensation decisions. In addition to its use by management, we also believe adjusted EBITDA is a measure widely used by securities analysts, investors and others to evaluate financial performance of our company relative to other Tier 1 automotive suppliers. Adjusted EBITDA should not be considered a substitute for earnings (loss) before income taxes, net income (loss) or other results reported in accordance with GAAP. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Adjusted net income (loss) attributable to the parent company is a non-GAAP financial measure which we have defined as net income (loss) attributable to the parent company, excluding any discrete income tax items, restructuring charges, amortization expense and other adjustments not related to our core operations (as used in adjusted EBITDA), net of any associated income tax effects. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to net income (loss) attributable to the parent company reported by other companies. Adjusted net income (loss) attributable to the parent company is neither intended to represent nor be an alternative measure to net income (loss) attributable to the parent company reported in accordance with GAAP. Diluted adjusted EPS is a non-GAAP financial measure which we have defined as adjusted net income (loss) attributable to the parent company divided by adjusted diluted shares. We define adjusted diluted shares as diluted shares as determined in accordance with GAAP based on adjusted net income (loss) attributable to the parent company. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to EPS reported by other companies. Diluted adjusted EPS is neither intended to represent nor be an alternative measure to diluted EPS reported in accordance with GAAP Adjusted free cash flow is a non-GAAP financial measure which we have defined as net cash provided by (used in) operating activities less purchases of property, plant and equipment plus proceeds from sale of property, plant and equipment plus cash paid for Off-Highway business divestiture related activities. We believe adjusted free cash flow is useful to investors in evaluating the operational cash flow of the company inclusive of the spending required to maintain the operations. Adjusted free cash flow is not intended to represent nor be an alternative to the measure of net cash provided by (used in) operating activities reported in accordance with GAAP. Adjusted free cash flow may not be comparable to similarly titled measures reported by other companies. The accompanying financial information provides reconciliations of adjusted EBITDA and adjusted free cash flow to the most directly comparable financial measures calculated and presented in accordance with GAAP. We have not provided a reconciliation of our adjusted EBITDA outlook to the most comparable GAAP measures of net income (loss). Providing net income (loss) guidance is potentially misleading and not practical given the difficulty of projecting event driven transactional and other non-core operating items that are included in net income (loss), including restructuring actions, asset impairments and certain income tax adjustments. The accompanying reconciliations of these non- GAAP measures with the most comparable GAAP measures for the historical periods presented are indicative of the reconciliations that will be prepared upon completion of the periods covered by the non-GAAP guidance. Non-GAAP Financial Information

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