Slides
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Visteon Q4 & Full-Year 2025 Earnings February 19, 2026
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Full-Year 2025 in Review Strong performance despite various industry challenges 2 *GoM = Visteon y/y sales growth (ex. FX and net pricing) compared to production for Visteon customers weighted on Visteon sales contribution. $3,768 Million Net Sales $492 Million Adjusted EBITDA $292 Million Adjusted FCF +2% Growth-over-Market* 13.1% Margin $472 Million Net Cash DELIVERED ON CAPITAL ALLOCATION PRIORITIES STRONG MARGIN EXPANSION AND CASH GENERATION Record adjusted EBITDA and margin RECORD LEVEL OF NEW BUSINESS WINS $7.4 billion of new business wins Global GoM impacted by China and BMS STRONG SALES PERFORMANCE IN DISPLAY PRODUCTS Deployed >$120 million to M&A and shareholder returns
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2025 Strategic Update Building the next phase of growth through product innovation and market expansion 3 Artificial Intelligence Leading cockpit domain controller technology with AI capabilities High Performance Compute (HPC) CognitoAI Platform Foundation for edge AI in the cockpit ✓ Secured awards with Chery and Lynk & Co ✓ NBWs of ~$900M in past two years Proprietary in-house AI software ✓ Multimodal AI combining vision models and LLMs with growing customer engagement Displays Expanding market share through advanced OLED and large displays ✓ $3.6B of new displays business with 17 OEM customers ✓ Nearly 50% of new business wins in displays (surpassing 2024 record) ✓ Large OLED wins with European luxury OEMs ✓ Multiple conquest wins across display technologies Strategy Progression Update Expanding Market Opportunity Broader customer base and adjacent markets ✓ Targeted OEMs: Launched digital cockpit products with Toyota, Mahindra, Tata, and Maruti Suzuki ✓ Adjacent Markets: ~15% of new business wins from two-wheelers and commercial vehicles Cost Leadership and Capital Allocation Lower cost structure, disciplined investment ✓ Vertical Integration: Expanded display manufacturing and camera assembly ✓ Business Investments: ~$180M invested through Capex and M&A
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2025 Visteon Sales Performance Strength in underlying digital cockpit business offset by weakness in BMS and China 4 2025 Visteon Sales by Region (Dollars in millions) $1,344 $1,233 $839 $450 $1,321 $1,276 $832 $339 Americas Europe RoA China 2024 2025 Regional GoM Drivers Europe | +11% • Growth driven by display and digital cluster launches with Audi, Ford, and Renault • Contribution from engineering services acquisitions Americas | +5% • Strong growth in digital cockpit programs • Lower BMS volumes tied to the U.S. EV slowdown Rest of Asia | +3% • Outperformance driven by new launches in India and Southeast Asia across digital cockpit programs • Declines with Mazda and Nissan in Japan China | (27%) • Market share losses by global OEMs and vehicle mix with Geely • Sequential sales growth in Q4 driven by product launches
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2025 New Product Launches Launched 86 new products across 19 OEM customers 5 Key Q4 2025 Model Launches 2025 Launch Highlights Launches by Geography Ford F150 Hybrid Cluster Toyota Corolla Digital Cluster Tata Sierra Digital Cluster Mazda CX-5 Center Display Zeekr 7 SmartCore Electric Vehicle ICE & EV ICE & Hybrid 28 Displays & SmartCore Launches ~20% On Hybrid Powertrains ~15% On 2W and CV Platforms* 30% 34% 16% 20% China Americas Europe RoA ICE & Hybrid ICE & Hybrid Mahindra XUV7XO SmartCore & Multi Display Module ICE Vehicle *2W = Two-Wheelers; CV = Commercial Vehicles.
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2025 New Business Wins Exceeded $7 Billion Record new business wins driven by demand for display and SmartCore products 6 Q4 New Business Win HighlightsFY 2025 New Business Wins Displays Clusters Electrification & Other $6.1B $7.4B Center Information Display Display for heavy-duty trucks platform for North American OEM SmartCore HPC Cockpit domain controller with integrated edge AI for domestic Chinese OEM Driver Display Display-only cluster for entry-level sedan in China for Japanese OEM Display and Infotainment Center display and infotainment system for SUV and truck models for Japanese OEM FY 2024 FY 2025 43% 26% 17% 14% 48% 20% 4% SmartCore & Infotainment28%
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2026 Market and Sales Outlook Building blocks for next growth stage emerging in 2026 7 (Dollars in millions) (2%) (2%) +1% +2% +2% (2%) Temporary Headwinds Next Stage of Growth BMS Sales: Assuming ~50% reduction in volumes after EV tax credit expiration Discontinued Vehicles: Ford Focus, Escape, and Corsair production ending in 2025 with no successor program China Sales: SmartCore HPC launches offset market headwinds Strategic Initiatives: 25+ launches across Toyota, two-wheelers and commercial vehicles Traditional Customers: Recent and upcoming launches partially offset by program roll-offs Sustainable growth building in 2026Factors contained to 2026 $3,768 $3,625 – 3,825 2025 Sales BMS Sales Discontinued Vehicles Pricing, FX, & Other China Sales Strategic Initiatives Traditional Customers 2026 Sales(1) (2) (3) (1) Includes annual pricing, FX, changes in semiconductor recoveries, and nonrecurring commercial items. (2) Includes sales with Toyota, Honda, Hyundai, Mahindra, Tata, Maruti Suzuki, Two-Wheeler and Commercial Vehicle OEMs, and engineering services. (3) Sales excluding BMS products, discontinued vehicles, net pricing, FX & other, domestic China, and strategic initiatives defined above.
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Visteon Q4 & Full-Year 2025 Financial Results February 19, 2026
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2019–2025 Financial Performance Increased revenue, expanded margins, and generated significant cash in challenging environment 9 (Dollars in millions) Sales Adjusted EBITDA Adjusted Free Cash Flow Added ~$0.8B Expanded +520 bps Avg Conversion(1) ~42% Recoveries Delivered strong financial results through focused operational and commercial execution (1) Average represents the sum of Adjusted Free Cash Flow divided by the sum of Adjusted EBITDA from 2019 – 2025. $234 $192 $228 $348 $434 $474 $492 2019 2020 2021 2022 2023 2024 2025 7.5% margin 8.2% margin 9.3% margin 11.0% margin 12.3% margin 13.1% margin $56 $96 $22 $101 $150 $300 $292 2019 2020 2021 2022 2023 2024 2025 50% conv. 10% 29% conv. 35% conv. 63% conv. 59% conv. $2,945 $2,548 $2,773 $3,756 $3,954 $3,866 $3,768 2019 2020 2021 2022 2023 2024 2025 7.9% margin 24% conv.
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Q4 2025 Financial Review Strong margin performance and cash generation continued in Q4 10 Capital Allocation Returned capital to shareholders through share repurchases and quarterly dividend $57 Million Shareholder Returns Growth in displays partially offset by decline in BMS and temporary disruptions at Ford and JLR Balance Sheet Strong balance sheet provides flexibility to execute on capital allocation priorities $472 Million Net Cash Sales Drivers $948 Million Net Sales Margin Expansion Normalized margins in the mid-12% range after adjusting for one-timers 11.6% Margin Adj. EBITDA Cash Flow Generation Strong cash generation driven by robust EBITDA and capital discipline $77 Million Adj. FCF
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Full-Year 2025 Sales & EBITDA Performance Expanded margins by 80 bps while navigating various industry headwinds 11 Key Performance Drivers Nonrecurring Items Favorable net EBITDA impact of ~$30 million from nonrecurring commercial items Operational Performance and Cost Discipline Delivered on end-to-end product cost initiatives and engineering and SG&A productivity Customer Production and Currency Customer-weighted production declined 1% year- over-year and currency was neutral Sales Adjusted EBITDA +80 bps ($98) Recoveries $3,866 $3,768 FY 2024 FY 2025 $474 $492 FY 2024 FY 2025 12.3% margin 13.1% margin Growth-over-Market Performance GoM of 2% driven by cockpit electronics growth, partially offset by headwinds from BMS and China (Dollars in millions) Pricing and Customer Recoveries Annual price reductions of 2% and lower customer recoveries of 2% driven by lower semiconductor costs
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Full-Year 2025 Cash Flow and Capital Allocation Strong cash generation and balance sheet enabled balanced capital allocation strategy 12 (Dollars in millions) FY 2024 FY 2025 Adjusted EBITDA $474 $492 Trade Working Capital 30 32 Cash Taxes (73) (98) Interest Payments Received 4 11 Other Changes 2 (12) Capital Expenditures (137) (133) Adjusted FCF $300 $292 Delivering on capital allocation strategy with focus on investing in the business while returning excess cash to shareholders 2025 Capital Allocation Mergers & Acquisitions Share Repurchases Quarterly Dividend Debt Repayment ~$275M Capital deployed in 2025 Capital Expenditures $133 $50 $15 $18 $57
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Key Assumptions Full-Year 2026 Guidance 13 *At the midpoint of guidance Building the foundation for the next stage of growth Sales Adj. FCF Adj. EBITDA ▪ Growth with high-performance compute launches in China, progress on strategic growth initiatives, and new program launches contribute ~5% growth ▪ Lower BMS volumes and discontinued vehicles at Ford creating a temporary headwind of ~4% ▪ Pricing, recoveries, FX, and non-recurrence of prior-year one-time items represent a ~2% headwind ▪ Capex of ~$150 million for the full-year ▪ In line with long-term targeted conversion ratio of ~40% ▪ Lower one-timers included in 2026 guidance compared to 2025 results (approximately $20M year-over-year impact) ▪ Adjusted EBITDA margin of 12.8% at the midpoint, up 30 basis points versus 2025 normalized margin of 12.5% LSD Growth-over-Market* $3.625B – $3.825B $170M – $210M 40% Conversion* $455M – $495M 12.8% Margin*
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2026 Capital Allocation Priorities 14 Remain committed to driving shareholder value through balanced capital allocation priorities (Dollars in millions) $500M+ Available for Deployment 2026 Capital Allocation Organic Investments Investing $150M in capital expenditures to support program launches, product innovation, and vertical integration Dividend increased in Q1 to $0.375/share reflecting confidence in our cash generation Increasing Quarterly Dividend Prioritizing reinvesting in the business Strong cash generation supports organic growth initiatives, bolt-on M&A, and shareholder returns $150 $40 $18 Capital Expenditures Mergers & Acquisitions Quarterly Dividends Share Repurchases Debt Repayments Bolt-On Acquisitions Active on M&A with healthy pipeline of acquisition opportunities to bolster technology capabilities Committed to returning capital to shareholders through opportunistic share repurchases Share Repurchases
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15 Save the Date 2026 Investor Day June 25, 2026 Nasdaq MarketSite New York, NY investor@visteon.com
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Earnings Q&A February 19, 2026
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Appendix February 19, 2026
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Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to: • uncertainties in U.S. or foreign policy regarding trade agreements, tariffs or other international trade policies and any response to such actions by foreign countries; • continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions; • significant or prolonged shortage of critical components from our suppliers, including but not limited to semiconductors including DRAM, and particularly those who are our sole or primary sources; • failure of the Company’s joint venture partners to comply with contractual obligations or to exert influence or pressure in China; • conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest; • our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms; • our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis; • our ability to grow its business with Chinese domestic OEMs and to compete with Chinese domestic suppliers as they expand their market-share outside of China; • general economic conditions, currency exchange rates, interest rates, changes in foreign laws, regulations or trade policies, including export controls of certain parts or materials or political stability in foreign countries where Visteon procures materials, components, or supplies or where its products are manufactured, distributed, or sold; • disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters; • increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party; • changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, prohibit, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of Visteon's or its suppliers’ products or assets; and • those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated by our subsequent filings with the Securities and Exchange Commission). Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates. 18
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Use of Non-GAAP Financial Information • Because not all companies use identical calculations, Adjusted Gross Margin, Adjusted SG&A, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow and Adjusted Free Cash Flow used throughout this presentation may not be comparable to other similarly titled measures of other companies. • In order to provide the forward-looking non-GAAP financial measures for full-year 2026, the Company provides reconciliations to the most directly comparable GAAP financial measures on the subsequent slides. The provision of these comparable GAAP financial measures is not intended to indicate that the Company is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this press release and the adjustments that management can reasonably predict. 19
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Reconciliation of Non-GAAP Financial Information Adjusted Gross Margin The Company defines Adjusted Gross Margin as gross margin, adjusted to eliminate the impacts of stock-based compensation expense, intangibles amortization and other non-operating costs. Adjusted SG&A The Company defines Adjusted SG&A as SG&A, adjusted to eliminate the impacts of stock-based compensation expense, intangibles amortization and other non-operating costs. 2024 2025 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Gross margin $119 $147 $131 $134 $531 $138 $141 $131 $122 $532 Less: Non-cash, stock-based compensation expense 4 5 4 4 17 5 5 4 4 18 Intangibles amortization — — — 1 1 — 1 1 2 4 Other 1 — 1 — 2 — — — — — Subtotal $5 $5 $5 $5 $20 $5 $6 $5 $6 $22 Adjusted gross margin $124 $152 $136 $139 $551 $143 $147 $136 $128 $554 2024 2025 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year SG&A $52 $49 $51 $55 $207 $47 $48 $53 $54 $202 Less: Non-cash, stock-based compensation expense (6) (6) (6) (6) (24) (6) (7) (7) (7) (27) Intangibles amortization (1) (1) — (1) (3) (1) — (1) (1) (3) Other — — (1) — (1) — — — — — Subtotal ($7) ($7) ($7) ($7) ($28) ($7) ($7) ($8) ($8) ($30) Adjusted SG&A $45 $42 $44 $48 $179 $40 $41 $45 $46 $172 20
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Reconciliation of Non-GAAP Financial Information (cont’d) Adjusted Net Income and Adjusted EPS • The Company defines Adjusted Net Income as net income / (loss) attributable to Visteon adjusted to eliminate the impact of restructuring and impairment expense, and related tax effects and other gains and losses not reflective of the Company's ongoing operations. • The Company defines Adjusted Earnings Per Share as adjusted net income divided by average diluted shares outstanding. 2024 2025 (Dollars and shares in millions, except per share data) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Net income / (loss) attributable to Visteon* $48 $83 $40 $125 $296 $67 $71 ($11) $74 $201 Average shares outstanding, diluted 28.0 27.9 27.9 27.9 27.9 27.5 27.6 27.3 27.7 27.6 Earnings / (loss) per share $ 1.71 $ 2.97 $ 1.43 $ 4.48 $ 10.61 $ 2.44 $ 2.57 $ (0.40) $ 2.67 $ 7.28 Net income / (loss) attributable to Visteon* $48 $83 $40 $125 $296 $67 $71 ($11) $74 $201 Restructuring, net 2 1 28 1 32 — 1 3 4 8 Non-operating costs, net 1 — 2 3 6 1 1 — 7 9 Tax effect of adjustments — (1) (6) (2) (9) — (1) — (3) (4) Subtotal $3 $— $24 $2 $29 $1 $1 $3 $8 $13 Adjusted net income / (loss) $51 $83 $64 $127 $325 $68 $72 ($8) $82 $214 Average shares outstanding, diluted 28.0 27.9 27.9 27.9 27.9 27.5 27.6 27.3 27.7 27.6 Adjusted earnings / (loss) per share $ 1.82 $ 2.97 $ 2.29 $ 4.55 $ 11.65 $ 2.47 $ 2.61 $ (0.29) $ 2.96 $ 7.75 *Amounts shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets described in the Company's 2025 Form 10-K. 21
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Reconciliation of Non-GAAP Financial Information (cont’d) Adjusted EBITDA The Company defines Adjusted EBITDA as net income / (loss) attributable to the Company adjusted to eliminate the impact of depreciation and amortization, restructuring and impairment expense, net interest expense, equity in net (income) / loss of non-consolidated affiliates, provision for (benefit from) income taxes, net income / (loss) attributable to non-controlling interests, non-cash stock-based compensation expense, and other gains and losses not reflective of the Company's ongoing operations. 22 2024 2025 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year FY 2026 Guidance Midpoint Net income / (loss) attributable to Visteon* $48 $83 $40 $125 $296 $67 $71 ($11) $74 $201 $205 Depreciation and amortization 22 24 25 25 96 25 27 28 29 109 120 Restructuring, net 2 1 28 1 32 — 1 3 4 8 10 Provision for (benefit from) income taxes* 13 13 10 (44) (8) 26 22 90 (13) 125 90 Non-cash, stock-based compensation expense 10 11 10 10 41 11 12 11 11 45 50 Interest (income) expense, net — — — (2) (2) (1) (2) (3) (3) (9) (5) Net income (loss) attributable to non-controlling interests 2 4 1 3 10 2 4 2 4 12 10 Equity in net loss (income) of non-consolidated affiliates 4 — 3 (4) 3 (2) (2) (1) (3) (8) (10) Other 1 — 2 3 6 1 1 — 7 9 5 Subtotal $54 $53 $79 ($8) $178 $62 $63 $130 $36 $291 $270 Adjusted EBITDA $102 $136 $119 $117 $474 $129 $134 $119 $110 $492 $475 *Amounts shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets described in the Company's 2025 Form 10-K.
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Reconciliation of Non-GAAP Financial Information (cont’d) Free Cash Flow and Adjusted Free Cash Flow • The Company defines Free Cash Flow as cash flow from (for) operating activities less capital expenditures. • The Company defines Adjusted Free Cash Flow as cash flow from (for) operating activities less capital expenditures, as further adjusted for restructuring-related payments. 2024 2025 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year FY 2026 Guidance Midpoint Cash flow from (for) operating activities $69 $57 $98 $203 $427 $70 $95 $127 $118 $410 $320 Less: Capital expenditures, including intangibles (37) (31) (28) (41) (137) (35) (31) (22) (45) (133) (150) Free cash flow $32 $26 $70 $162 $290 $35 $64 $105 $73 $277 $170 Exclude: Restructuring-related payments 2 2 3 3 10 3 3 5 4 15 20 Adjusted free cash flow $34 $28 $73 $165 $300 $38 $67 $110 $77 $292 $190 23
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Adjusted EBITDA Build-up Reconciliation of Non-GAAP Financial Information (cont’d) (Dollars in millions) 2024 2025 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Sales $933 $1,014 $980 $939 $3,866 $934 $969 $917 948 $3,768 Gross margin $119 $147 $131 $134 $531 $138 $141 $131 $122 $532 Intangibles amortization — — — 1 1 — 1 1 2 4 Stock-based compensation expense 4 5 4 4 17 5 5 4 4 18 Other 1 — 1 — 2 — — — — — Adjusted gross margin $124 $152 $136 $139 $551 $143 $147 $136 $128 $554 % of sales 13.3% 15.0% 13.9% 14.8% 14.3% 15.3% 15.2% 14.8% 13.5% 14.7% SG&A ($52) ($49) ($51) ($55) ($207) ($47) ($48) ($53) ($54) ($202) Intangibles amortization 1 1 — 1 3 1 — 1 1 3 Stock-based compensation expense 6 6 6 6 24 6 7 7 7 27 Other — — 1 — 1 — — — — — Adjusted SG&A ($45) ($42) ($44) ($48) ($179) ($40) ($41) ($45) ($46) ($172) Adjusted EBITDA Adjusted gross margin $124 $152 $136 $139 $551 $143 $147 $136 $128 $554 Adjusted SG&A (45) (42) (44) (48) (179) (40) (41) (45) (46) (172) D&A 21 23 25 23 92 24 26 26 26 102 Other income, net 2 3 2 3 10 2 2 2 2 8 Adjusted EBITDA $102 $136 $119 $117 $474 $129 $134 $119 $110 $492 % of sales 10.9% 13.4% 12.1% 12.5% 12.3% 13.8% 13.8% 13.0% 11.6% 13.1% Equity income (loss) in affiliates ($4) $— ($3) $4 ($3) $2 $2 $1 $3 $8 Noncontrolling interests ($2) ($4) ($1) ($3) ($10) ($2) ($4) ($2) ($4) ($12) 24
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Net Engineering 2024 2025 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Engineering costs, gross (83) (81) (80) (90) (334) (80) (88) (90) (106) (364) Recoveries 23 31 33 56 143 28 36 32 48 144 Engineering costs, net ($60) ($50) ($47) ($34) ($191) ($52) ($52) ($58) ($58) ($220) 25
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Financial Results – U.S. GAAP 2024 2025 (Dollars in millions, except per share data) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Income Statement Sales $933 $1,014 $980 $939 $3,866 $934 $969 $917 $948 $3,768 Gross margin $119 $147 $131 $134 $531 $138 $141 $131 $122 $532 SG&A $52 $49 $51 $55 $207 $47 $48 $53 $54 $202 Net income / (loss) attributable to Visteon* $48 $83 $40 $125 $296 $67 $71 ($11) $74 $201 Earnings / (loss) per share, diluted $1.71 $2.97 $1.43 $4.48 $10.61 $2.44 $2.57 $(0.40) $2.67 $7.28 Cash Flow Statement Cash flow from (for) operating activities $69 $57 $98 $203 $427 $70 $95 $127 $118 $410 Capital expenditures, including intangibles $37 $31 $28 $41 $137 $35 $31 $22 $45 $133 *Amounts shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets described in the Company's 2025 Form 10-K. 26
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Condensed Statement of Operations - Tax Adjustments (Dollars in Millions) Before Change in Accounting Method 2023 2024 2025 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Income Statement Income (loss) before income taxes $257 $63 $100 $51 $84 $298 $95 $97 $81 $65 $338 Benefit from (provision for) income taxes $248 ($19) ($25) ($11) $41 ($14) ($28) ($28) ($22) ($20) ($98) Net income (loss) $505 $44 $75 $40 $125 $284 $67 $69 $59 $45 $240 Less: Net (income) loss attributable to non- controlling interests ($19) ($2) ($4) ($1) ($3) ($10) ($2) ($4) ($2) ($4) ($12) Net income (loss) attributable to Visteon Corporation $486 $42 $71 $39 $122 $274 $65 $65 $57 $41 $228 After Change in Accounting Method(1) 2023 2024 2025 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Income Statement Income (loss) before income taxes $257 $63 $100 $51 $84 $298 $95 $97 $81 $65 $338 Benefit from (provision for) income taxes $330 ($13) ($13) ($10) $44 $8 ($26) ($22) ($90) $13 ($125) Net income (loss) $587 $50 $87 $41 $128 $306 $69 $75 ($9) $78 $213 Less: Net (income) loss attributable to non- controlling interests ($19) ($2) ($4) ($1) ($3) ($10) ($2) ($4) ($2) ($4) ($12) Net income (loss) attributable to Visteon Corporation $568 $48 $83 $40 $125 $296 $67 $71 ($11) $74 $201 Income (loss) due to impact from the change in Accounting Principle $82 $6 $12 $1 $3 $22 $2 $6 ($68) $33 ($27) (1) The Company’s change in accounting methodology for assessing the realizability of its U.S. deferred tax assets and resulting valuation allowance from an incremental cash-tax-savings approach to the tax-law-ordering approach resulted in a cumulative $77 million income tax benefit over the three-year period ended December 31, 2025. 27
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Condensed Statement of Operations - Tax Adjustments Before Change in Accounting Method 2023 2024 2025 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Diluted net income per share $ 17.05 $ 1.50 $ 2.54 $ 1.40 $ 4.37 $ 9.82 $ 2.36 $ 2.36 $ 2.04 $ 1.48 $ 8.26 Diluted net income per share, as adjusted $ 17.68 $ 1.61 $ 2.54 $ 2.26 $ 4.44 $ 10.86 $ 2.40 $ 2.39 $ 2.15 $ 1.77 $ 8.73 After Change in Accounting Method(1) 2023 2024 2025 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Diluted net income (loss) per share due to impact from the change in Accounting Principle $ 19.93 $ 1.71 $ 2.97 $ 1.43 $ 4.48 $ 10.61 $ 2.44 $ 2.57 $ (0.40) $ 2.67 $ 7.28 Diluted net income (loss) per share due to impact from the change in Accounting Principle, as adjusted $ 20.56 $ 1.82 $ 2.97 $ 2.29 $ 4.55 $ 11.65 $ 2.47 $ 2.61 $ (0.29) $ 2.96 $ 7.75 (1) The Company’s change in accounting methodology for assessing the realizability of its U.S. deferred tax assets and resulting valuation allowance from an incremental cash-tax-savings approach to the tax-law-ordering approach resulted in a cumulative $77 million income tax benefit over the three-year period ended December 31, 2025. 28