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© 2025 Garrett Motion Inc. © 2025 Garrett Motion Inc. © 2026 Garrett Motion Inc. Q4 AND FULL YEAR 2025 FINANCIAL RESULTS FEBRUARY 19, 2026
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Forward Looking Statements This communication and related comments by management may include “forward -looking statements” within the meaning of the U.S. fe deral securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should, ” “target,” “will,” and similar expressions. Forward -looking statements represent our current judgment about possible future activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. In making these statement, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factor s we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future per formance, events, or results, and actual performance, events, or results may differ materially from those envisaged by our forward -looking statements due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10 -K and our other filings with the U.S. Securities and Exchange Commission, including risks related to the automotive industry, the competitive landscape and our ability to compete , and macroeconomic and geopolitical conditions, among others. You are cautioned not to place undue reliance on forward -looking statements, which speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward -looking statements, whethe r as a result of new information, future events, or other factors that affect the subject of these statement, except where we are expressly requir ed to do so by law. Non-GAAP Financial Measures This communication includes the following non -GAAP financial measures, which are not calculated in accordance with generally acc epted accounting principles in the United States (“GAAP”): constant currency sales growth, Adjusted EBITDA, Adjusted EBITDA margin, Consolidat ed EBITDA, Adjusted EBIT, Adjusted EBIT margin, Adjusted free cash flow, and Adjusted free cash flow conversion. We believe these measures are us eful to investors and management in understanding our ongoing operations and analysis of ongoing operating trends and are important indicators of o perating performance because they exclude the effects of certain non -operating items, therefore making them more closely reflect our operational perf ormance. Our calculation of these non-GAAP measures, including a reconciliation of such measures to the most closely related GAAP measure, ar e set forth in the Appendix to this presentation. These non -GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non -GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. For additional information regardin g our non-GAAP financial measures, see our most recent Annual Report on Form 10 -K and our other filings with the U.S. Securities and Exchange Commission.
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Key business highlights 1 Reconciliations of Non-GAAP financial measures are included in Appendix Net Sales of $891M in Q4, $3,584M for FY 2025 • +6% reported vs. Q4 2024, FY +3% reported vs. 2024 • Light vehicle gasoline grew 4% in 2025, outperforming the industry, driven by share of demand gains Adj. EBIT1 of $122M in Q4, $510M for FY 2025 • Achieved 13.7% margin1 in Q4, 14.2% margin1 for FY Adj. Free Cash Flow1 of $139M in Q4, $403M in 2025 • 79% full year Adjusted FCF1 conversion Continuing to return capital to shareholders • $250M share repurchase authorization for 2026 • Declared Q1 26 dividend of $0.08/ share on Feb 19, 2026 FY outlook midpoint • Net sales of $3.7B on share of demand gains • Adj. EBIT margin1 expansion to 14.7% (+50bps vs. 2025) • $405M Adj. Free Cash Flow1 | 74% Adj. FCF1 conversion Strong execution in 2025 Continuing to win in 2026 Broadening product portfolio • Expanding hybrid, commercial vehicle and industrial turbo offerings • Leveraging differentiated and proven auto technologies in new industrial non-automotive applications Returned $260M to shareholders in 2025 • Repurchased shares for $72M in Q4 and $208M in 2025 • Initiated and paid dividends of $52M for full year
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© 2026 Garrett Motion Inc. Continued success across differentiated technologies • Secured new light-vehicle turbo awards in key geographies, including in Diesel for light commercial vehicles and hybrid Gasoline applications Turbo and Hybrid Technologies Zero Emission Technologies Fuel Cell CompressorE-Cooling Compressor3-in-1 E-Powertrain Industrial Turbo Commercial Vehicle TurboLight Vehicle Turbo • Announced roll-out of full portfolio of industrial HVAC compressors leveraging breakthrough oil-free high-speed centrifugal technology • Won first 2 MEG series production awards for marine applications and expanded MEG Aftermarket offerings • Received first series-production award for a disruptive E-cooling compressor from a leading bus and truck HVAC producer in China, SOP in 2027 • Interest continues to grow for our high-speed E-Powertrain, as we prepare for the start of production of our first electric trucks program in January 2027 • Secured 15 commercial vehicle and industrial awards, further expanding presence in power generation and marine
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© 2026 Garrett Motion Inc. • Superior energy efficiency leading to better TCO1 • Ready for today’s & next generation low GWP2 refrigerants • Less noise • Smaller & lighter Leveraging our technology differentiation, scale and quality from automotive: Key benefits: Battery Energy Storage System Rooftop/Unitary HVAC • High-speed e-motor • Oil-free foil bearing technology • In-house controls software & electronics Computer (In-)Room Air Conditioner (CRAC) Comfort Cooling Chillers Breakthrough oil-free centrifugal compressor technology Large Chillers (e.g., for hyperscale data centers) 1 Total Cost of Ownership 2 Global Warming Potential
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. $124 $131 $124 $133 $122 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Reported Net Sales ($M) Adjusted FCF1 ($M) Quarterly financial trends: Q4 2024 – Q4 2025 Adjusted EBIT1 ($M) $157 $36 $121 $107 $139 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 • Stable Net Sales with gasoline share of demand gains, slow recovery of commercial vehicles and continued Aftermarket and diesel softness • Adj. EBIT 1 down sequentially in Q4 as operational productivity and favorable FX was more than offset by unfavorable product mix and one -time headwinds • Strong Adj. Free Cash Flow 1 from working capital recovery and delayed capital expenditures in the quarter 43% 20% 34% Q4 2024 49% 20% 29% Q1 2025 50% 20% 27% Q2 2025 48% 19% 29% Q3 2025 48% 19% 31% Q4 2025 $844 $878 $913 $902 $891 Europe North America Asia Others 14.7% 127% Adj. EBIT% 1 Adj. FCF Conv.%1 14.9% 27% 14.7% 80% 13.6% 98% 13.7% 114% 1 Reconciliations of Non-GAAP financial measures are included in Appendix
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. • Net Sales up $ 47M or 6% on a reported basis, 1% at constant currency 1 • Growth in global diesel and commercial vehicles verticals • Gasoline decline in Asia due to lower volumes partially offset by gains in Europe • Tariff recoveries of $10M in the quarter 2 ($M) Net Sales bridge: Q4 and FY 2025 1 Reconciliations of Non-GAAP financial measures are included in Appendix 2 Tariff amounts included in each vertical 34 Q4 2024 Net Sales (10) Gasoline 12 Diesel 10 Commercial Vehicles 0 Aftermarket 1 Others FX Q4 2025 Net Sales $844 $891 63 62 2024 Net Sales Gasoline (14) Diesel 19 Commercial Vehicles (28) Aftermarket 7 Others FX 2025 Net Sales $3,475 $3,584 % change1 (3)% 6% 7% 0% 2% 1% % of Reported Q4’25 Net Sales 43% 24% 18% 13% 2% % change1 4% (2)% 3% (6)% 12% 1% % of Reported 2025 Net Sales 45% 23% 18% 12% 2% • Net Sales up $ 109M or 3% on reported basis , 1% at constant currency 1 • Gasoline growth from new launches & ramp - ups; CV off-hwy recovery across regions • Diesel down as Europe industry declines, partially offset by North America growth • Aftermarket decline from lower demand for off-hwy applications in North America • Tariff recoveries of $40M for the year 2
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Adjusted EBIT 1 bridge: Q4 and FY 2025 ($M) (15) 14.7% Adj EBIT Q4 2024 1 7 Volume (10) Product Mix Price net of Inflation Passthrough 4 Commodity, Transportation and Energy Inflation (3) Productivity, SG&A - net 5 RD&E 10 FX 13.7% Adj EBIT Q4 2025 1 $124 $122 $(9)M operating performance decline year-over-year +$43M operating performance improvement year-over-year (70) 14.0% Adj EBIT 2024 1 29 Volume Product Mix (30) Price net of Inflation Passthrough 24 Commodity, Transportation and Energy Inflation 29 Productivity, SG&A - net 20 RD&E 23 FX 14.2% Adj EBIT 2025 1 $485 $510 • Adjusted EBIT 1 of $122M, down $2M | Margin 1 of 13.7%, down 100bps net of tariffs • Volume growth with unfavorable product mix • One-time headwinds offsetting benefit from continued operational performance gains • Adjusted EBIT 1 of $510M, up $25M | Margin 1 of 14.2%, up 20bps net of tariffs • Volume gains more than offset by unfavorable product mix • Strong operating performance through variable and sustained fixed cost productivity driving +120bps of margin expansion 1 Reconciliations of Non-GAAP financial measures are included in Appendix
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. $510 $403 99 21 Adjusted EBIT 2 Change in Working Capital (62) Cash Taxes (72) Capital Expenditures Depr. & Amort. (95) Cash Interest Other Adjusted Free Cash Flow2 1 1 • Strong full year Adjusted Free Cash Flow1 conversion of 79% • Lower capital expenditures versus expectation due to timing • Cash taxes and interest in line with expectations • Other includes cross-currency swaps and stock-based compensation ($M) 2025 Adjusted EBIT 1 to Adjusted Free Cash Flow 1 bridge 1 Reconciliations of Non-GAAP financial measures are included in Appendix 2 Change in Working Capital excludes the impact of $7M Factoring and p-notes
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. 1 Excluding Restricted Cash of $3M in Q3 2025 and $2M in Q4 2025 2 Reconciliations of Non-GAAP financial measures are included in Appendix • Term Loan and Unsecured Notes maturing in 2032 • Net leverage ratio2 at 1.92x • $50M voluntary early Term Loan repayment on Oct. 23, 2025 • Strong financial flexibility with ~$807M total liquidity with no significant maturities until 2032 Q3 2025 Q4 2025 Unrestricted Cash1 230 177 Undrawn Revolver Credit Facility 630 630 Total Liquidity 860 807 2032 7Y Term Loan 688 637 2032 8Y Senior Unsecured Notes 800 800 Other 2 2 Gross Debt2 1,490 1,439 Net Debt2 (Gross Debt – Unrestricted Cash) 1,260 1,262 Liquidity and Net Debt2 Liquidity, Net Debt and Leverage ratio ($M)
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Targeting to return 75% 1 of Adj. FCF2 to shareholders over time • Repurchased $72M of common stock in Q4, for a total of $208M in 2025 • ~191 million shares outstanding as of December 31, 2025, down 43% since Jan 2023 • Declared Q1 2026 dividend of $0.08 per share on Feb 19, 2026 • Share repurchase authorization of $250M for 2026 1 Actual amount and pace of repurchases will vary over time and will depend on various factors including macro-economic and industry conditions 2 Reconciliations of Non-GAAP financial measures are included in Appendix 3 Includes Preferred A shares on an as-converted basis for periods prior to conversion Shareholder Returns ($M) Continuous Share Count Reduction3 $213 $296 $52 $208 $570 2023 2024 2025 Preferred A shares buy back Common shares buy back Common shares dividends 333 264 243 238 227 221 215 206 204 202 195 191 Q1-23 Q2 Q3 Q4 Q1-24 Q2 Q3 Q4 Q1-25 Q2 Q3 Q4 -43% Million shares outstanding Full Year Highlights
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Net Sales $3.6B to $3.8B Net Sales Growth at Constant Currency 1 -2% to +2% Net Income $295M to $335M Adjusted EBIT 1 $520M to $570M Net Cash Provided By Operating Activities $407M to $502M Adjusted Free Cash Flow 1 $355M to $455M • Light vehicle industry down vs. 2025 ( -1% to -3%) • Average light vehicle BEV penetration of 19% • Commercial vehicle industry up vs. 2025 (+1% to +2%) • RD&E investment at 4.2% of Sales, ~50% on zero emission technologies • Capital expenditures at 2.5% of Sales, ~25% on zero emission technologies • Euro/USD currency rate of 1.17 vs. 1.13 in 2025 • Outlook range does not consider potential impact of changes in tariff policies or other trade actions Planning Assumptions 2026 outlook 1 Reconciliations of Non-GAAP financial measures are included in Appendix
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. 30 96 14.2% Adj EBIT 2025 Volume (35) Product Mix (62) Price net of inflation Passthrough 0 Commodity, Transportation and Energy Inflation Productivity, SG&A - net (2) RD&E 8 FX 14.7% Adj EBIT 2026 outlook $510 $545 11 Adjusted EBIT 1 outlook of $545M, 14.7% margin 1 up 50bps year -over-year: • Share of demand gains offset by unfavorable product mix • Driving strong margin expansion through continued operating performance improvement 2026 midpoint outlook Adjusted EBIT 1 bridge +$32M operating performance improvement year-over-year ($M) 1 Reconciliations of Non-GAAP financial measures are included in Appendix EUR / USD 1.17 (1.13 in 2025)
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Continue to be #1 Turbo player1 and leader in a technology-driven industry; investing in new Turbo technologies, especially for hybrids; expanding into industrial applications Industry Leadership Proven performance through business cycles with target of 75% Adjusted Free Cash Flow conversion2 while funding RD&E and aiming to return 75% of Adj. FCF 2 to shareholders over time through dividends and share repurchases Cash Generation Focused investments on differentiated technology solutions for our E-Powertrain, E-Cooling Compressor, and Fuel Cell Compressor Focused Zero Emission3 Strategy New zero-emission offerings, addressing unmet customer needs; sustaining high margins through differentiated technology that is difficult for competitors to replicate Tech Differentiation Experienced team, proven performance, strong culture of innovation centered on creating and delivering breakthrough technology at scale Talent & Culture We remain focused on value creation 1 Turbo ranking based on 2025 results, as per management estimates 2 Reconciliations of Non-GAAP financial measures are included in Appendix 3 Zero Emission includes Battery Electric and Fuel Cell Vehicles
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Delivering results and advancing the transformation Delivered strong 2025 financial performance, with Adjusted EBIT 1 of $510M, 14.2% Adjusted EBIT Margin1 and $403M of Adjusted Free Cash Flow 1 Winning in turbo, including multiple hybrid, REEV and E -boosting applications Strong momentum in Zero Emission Technologies with first awards in E -Powertrain & E-Cooling Winning industrial turbo applications and rolled out our industrial E -Cooling compressor portfolio Returning capital to shareholders while strengthening an already solid balance sheet 2026 outlook reflects share of demand gains and continued margin expansion driven by strong operational performance 1 Reconciliations of Non-GAAP financial measures are included in Appendix
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APPENDICES
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Income Statement ($ in millions) Q4 2025 Q4 2024 FY 2025 FY 2024 Net sales $891 $844 $3,584 $3,475 Cost of goods sold 706 662 2853 2770 Gross profit 185 182 731 705 Selling, general and administrative expenses 65 62 240 240 Other expense, net 1 1 10 6 Interest expense 25 26 108 156 Gain on sale of equity investment 0 0 0 (27) Non-operating income (9) (6) (19) (13) Income before taxes $103 $99 $392 $343 Tax expense (loss) 19 (1) 82 61 Net income $84 $100 $310 $282
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Balance Sheet Summary ($ in millions) Assets December 31, 2025 December 31, 2024 Cash and cash equivalents $177 $125 Restricted cash 2 1 Other 1,140 1,067 Total current assets 1,319 1,193 Property, plant and equipment-net 462 449 Deferred income taxes 210 207 Other 376 427 Total assets $2,367 $2,276 Liabilities Total current liabilities 1,363 1,278 Long-term debt 1,411 1,464 Other 395 207 Total liabilities $3,169 $2,949 Equity (deficit) Common stock, par value 0 0 Additional paid-in capital 1,240 1,213 Retained deficit (1,384) (1,653) Treasury Stock (520) (306) Accumulated other comprehensive income (loss) (138) 73 Total deficit (802) (673) Total liabilities and deficit $2,367 $2,276
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Summary of Cash Flows ($ in millions) Q4 2025 Q4 2024 FY 2025 FY 2024 Net income $84 $100 $310 $282 Net cash provided by operating activities 99 131 413 408 Net cash used for investing activities (14) ($15) (41) ($14) Net cash used for financing activities (139) (81) (326) ($520) Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 1 (6) 7 (8) Net (decrease) / increase in cash, cash equivalents and restricted cash (53) 29 53 (134) Cash, cash equivalents and restricted cash at beginning of the period 232 97 126 260 Cash, cash equivalents and restricted cash at the end of the period $179 $126 $179 $126
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Reconciliation of Constant Currency Sales % Change We define constant currency sales growth as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation. This is the same definition we previously used for “organic sales growth”. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Garrett Q4 2025 Q4 2024 FY 2025 FY 2024 Reported sales % change 6% (11%) 3% (11%) Less: Foreign currency translation 5% (1%) 2% (1%) Constant Currency sales % change 1% (10%) 1% (10%) Gasoline Reported sales % change 1% (9%) 6% (13%) Less: Foreign currency translation 4% (1%) 2% (1%) Constant Currency sales % change (3%) (8%) 4% (12%) Diesel Reported sales % change 13% (23%) 1% (17%) Less: Foreign currency translation 7% (1%) 3% (1%) Constant Currency sales % change 6% (22%) (2%) (16%) Commercial vehicles Reported sales % change 9% 2% 4% (4%) Less: Foreign currency translation 2% (1%) 1% (1%) Constant Currency sales % change 7% 3% 3% (3%) Aftermarket Reported sales % change 4% (4%) (5%) 1% Less: Foreign currency translation 4% (1%) 1% 0% Constant Currency sales % change 0% (3%) (6%) 1% Other Sales Reported sales % change 7% (25%) 15% (11%) Less: Foreign currency translation 5% (1%) 3% (1%) Constant Currency sales % change 2% (24%) 12% (10%)
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow and Adjusted Free Cash Flow Conversion ($ in millions) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Net cash provided by operating activities $99 $100 $158 $56 $131 $67 $126 $84 Expenditures for property, plant and equipment (21) (10) (15) (26) (22) (20) (17) (32) Net cash provided by operating activities less expenditures for property, plant and equipment $78 $90 $143 $30 $109 $47 $109 $52 Capital structure transformation costs 1 0 0 0 0 0 0 1 Acquisition and divestiture expenses 0 1 4 1 0 0 1 0 Cash payments for repositioning 8 4 3 3 3 2 4 9 Cash proceeds from cross currency swap 2 6 11 4 6 3 4 4 Debt refinancing costs 0 1 0 6 0 0 0 0 Factoring and P-notes 50 5 (40) (8) 39 19 (56) 2 Adjusted free cash flow $139 $107 $121 $36 $157 $71 $62 $68 Net income 84 77 87 62 100 52 64 66 Adjusted EBITDA 159 164 154 159 153 144 150 151 Operating cash flow conversion % 118% 130% 182% 90% 131% 129% 197% 127% Adjusted free cash flow Conversion % 87% 65% 79% 23% 103% 49% 41% 45% Adjusted EBIT 122 133 124 131 124 117 123 121 Adjusted free cash flow Conversion % 114% 80% 98% 27% 127% 61% 50% 56%
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Reconciliation of Net Income to Adjusted EBIT, Adjusted EBITDA and Consolidated EBITDA 1 1 As defined in our credit agreement. 2 Relates to qualifying expenses such as costs of public company registration, listing and compliance, facility start-up and transition costs and other non-recurring expenses as defined under our credit agreement. ($ in millions) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 LTM Q3 2025 FY 2025 Net income - GAAP $84 $77 $87 $62 $100 $326 $310 Interest expense, net of interest income 24 28 23 29 26 106 104 Tax expense (benefit) 19 25 15 23 (1) 62 82 Repositioning costs 4 3 (2) 7 5 13 12 Foreign exchange gain on debt, net of related hedging gain 0 0 (1) 1 0 0 0 Discounting costs on factoring 1 0 1 1 1 3 3 Gain on sale of equity investment 0 0 0 0 0 0 0 Other non-operating income (10) (1) (2) (1) (8) (12) (14) Acquisition and divestiture expenses 0 0 3 3 1 7 6 Capital structure transformation costs 0 0 0 0 0 0 0 Debt refinancing and redemption costs 0 1 0 6 0 7 7 Adjusted EBIT 122 133 124 131 124 512 510 Depreciation 29 25 23 22 23 93 99 Stock compensation expense 8 6 7 6 6 25 27 Adjusted EBITDA $159 $164 $154 $159 $153 $630 $636 Unrealized Foreign exchange gain 0 (6) 5 10 (8) 1 9 Interest Income 1 2 0 0 0 2 3 Other expenses2 6 3 0 0 7 10 9 Consolidated EBITDA1 $166 $163 $159 $169 $152 $643 $657 Net Sales $891 $902 $913 $878 $844 $3,537 $3,584 Net income margin 9.4% 8.5% 9.5% 7.1% 11.8% 9.2% 8.6% Adjusted EBIT margin 13.7% 14.7% 13.6% 14.9% 14.7% 14.5% 14.2% Adjusted EBITDA margin 17.8% 18.2% 16.9% 18.1% 18.1% 17.8% 17.7%
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Reconciliation of Long -Term Debt to Net Debt and Related Ratios 1 Net leverage ratio defined as Net Debt divided by Consolidated EBITDA ($ in millions) Q4 2025 Q3 2025 Q4 2024 Long-term term debt $1,411 $1,460 $1,464 Short-term term debt $7 $7 $7 Bank overdraft $0 $0 $0 Deferred finance costs $21 $23 $22 Gross Debt $1,439 $1,490 $1,493 Cash and cash equivalents $177 $230 $125 Net Debt $1,262 $1,260 $1,368 Consolidated EBITDA LTM (Non-GAAP) $657 $643 $618 Gross Debt to Consolidated EBITDA LTM 2.19x 2.32x 2.42x Net Debt to Consolidated EBITDA LTM 1.92x 1.96x 2.21x
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Full Year 2026 Outlook Reconciliation of Net Sales Growth to Net Sales Growth at Constant Currency 2026 Full Year Low End 2026 Full Year High End Net sales (% change) 1% 5% Foreign currency translation 3% 3% Full Year 2025 outlook Net Sales Growth at Constant Currency (2%) 2%
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Full Year 2026 Outlook Reconciliation of Net Income to Adjusted EBIT to Adjusted EBITDA * Excludes the effects of marked-to-market fluctuations from our interest rate swap contracts ($ in millions) 2026 Full Year Low End 2026 Full Year High End Net income - GAAP $295 $335 Interest expense, net of interest income 101 101 Tax expense 100 110 Repositioning costs 23 23 Factoring and notes receivables discount fees 1 1 Full Year 2025 Outlook Adjusted EBIT (Non-GAAP) $520 $570 Depreciation 100 100 Stock compensation expense 27 27 Full Year 2025 Outlook Adjusted EBITDA (Non-GAAP) $647 $697
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Full Year 2026 Outlook Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow 2026 Full Year Low End 2026 Full Year High End ($ in millions) Net cash provided by operating activities (GAAP) $407 $502 Expenditures for property, plant and equipment ($90) ($90) Net cash provided by operating activities less expenditures for property, plant and equipment (Non-GAAP) $317 $412 Cash payments for restructuring $25 $25 Cash proceeds from cross currency swaps $13 $18 Full year 2025 outlook Adjusted Free Cash Flow (Non-GAAP) $355 $455
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© 2025 Garrett Motion Inc. CONFIDENTIAL © 2025 Garrett Motion Inc. CONFIDENTIAL © 2026 Garrett Motion Inc. Investors Cyril Grandjean +1 (734) 392-5504 InvestorRelations@garrettmotion.com Media Fabrice Spenninck MediaRelations@garrettmotion.com