Slides
Page 1
Visteon Q3 2026 Earnings October 22, 2026
Page 2
2 EXECUTED ON CAPITAL ALLOCATION PRIORITIES Completed $200M Accelerated Share Repurchase program $970 Million Sales +10% Growth-over-Market(1) ($1) Million Adj. FCF $136 Million Net Cash $46 Million Adj. EBITDA Includes $77 Million of Exceptional Warranty Charges Q3 2026 in Review Delivered robust growth-over-market driven by strong launch execution HPC = High Performance Compute (1) Visteon Y/Y sales growth (ex. net pricing & F/X) compared to production for Visteon customers weighted on Visteon sales contribution. STRONG DEMAND DRIVING ROBUST GOM Double-digit GoM in Europe and Rest of Asia Launched HPC with Chery enabling AI in the cockpit INDUSTRY -FIRST HPC LAUNCH MOMENTUM FOR NEXT - GENERATION PRODUCTS SmartCore and display products driving YTD NBWs
Page 3
Q3 2026 Visteon Sales by Region (Dollars in millions) Regional Drivers Q3 2026 Sales Highlights Double-digit outperformance in Europe and Rest of Asia drove strong y/y sales growth 3 • Robust growth in India more than offset legacy roll-offs with Mazda and FX headwinds • Ramp up of launches with Mahindra, Toyota, and two-wheeler OEMs Rest of Asia Europe • Double-digit sales growth driven by strong launch performance and higher customer production • Continued ramp up of programs with Audi, Renault, and Mercedes Americas • Decline driven by lower GM battery management system sales • Multi-display program with Nissan partially offset continued headwinds from Ford and GM China • Lower sales in-line with customer vehicle production decline • Sales increased with premium brands of Chery and Geely driven by new product launches Q3 2025 Q3 2026 $348 $288 $199 $82 $332 $343 $227 $68 Americas Europe RoA China (3%) +16% +14% (2%) Growth-over-Market
Page 4
Q3 2026 New Product Launches Launch cadence setting the stage for strong sales performance Key Q3 2026 Model Launches BMW i3 Cockpit Domain Controller Chery Freelander 8 High Performance Compute Launch Highlights 21 Launches 14 Customers In the Spotlight Launched industry-first High Performance Compute cockpit domain controller in China Integrated AI Capabilities 10+ ECUs Consolidated into Single Domain System Attributes Powered by Qualcomm Snapdragon Chip Audi A3 Multi-Display & Cluster Module Lexus TZ Driver Display Royal Enfield Interceptor Digital Cluster 4
Page 5
39% 30% 24%7% Q3 2026 New Business Wins Continued momentum with key growth customers driven by display and SmartCore wins 1) SmartCore & Infotainment group includes High Performance Compute, Cockpit Domain Controller, and Infotainment. New Business Win HighlightsYTD New Business Wins SmartCore & Infotainment(1) Displays Clusters Electrification & Other $3.9B Total Lifetime Revenue Display & Infotainment Center display and infotainment system for multiple vehicle models with Indian OEM Driver Displays Multiple driver display awards with luxury Japanese OEM brand for Japan and China markets Center Display Center information display for multiple vehicle models with Indian OEM Commercial Vehicle Display Center information display for CV market in Europe with North American OEM 5
Page 6
Q4 2026 Outlook Expecting robust outperformance while navigating supply constraints Entered into strategic supply agreements with key memory and PCB suppliers to set foundation for 2027 supply Supply Agreements Sourced four new suppliers to broaden the supply base and address memory shortages Alternative Suppliers Actively redesigning current product architecture to reduce reliance on supply-constrained memory Product Redesigns Additional HPC and cluster launches offset program roll-offs and support strong Q4 market outperformance Q4 Launch Cadence Key Considerations for Rest of Year Supply of memory and other semiconductors tightening, limiting further upside to sales performance Memory and Other Component Supply Demand for Visteon digital cockpit products remains strong in Q4, building on momentum from Q3 Strong Demand for Visteon Products Key Initiatives to Address Supply Constraints 6
Page 7
Q3 2026 Summary Commercial and Operational Discipline Significant progress on memory-related recovery agreements continued in the quarter Double-Digit Market Outperformance Delivered 10% growth-over-market driven by ramp up of product launches Prioritized Shareholder Returns Completed $200 million ASR and paid $9 million quarterly dividend Robust Launch Cadence 21 new product launches, including launches with Toyota and in China, India, and CV/2W markets 7ASR = Accelerated Share Repurchase Supplier Inflation on Purchased Components Inflation and supply constraints extending to new commodities with negotiations underway
Page 8
Visteon Q3 Financial Results October 22, 2026
Page 9
Sales Drivers $970 Million Sales Robust sales growth in Europe and India offset sales declines in Americas and China Capital Deployed Capital Allocation $209 Million Demonstrated commitment to shareholder returns through execution of ASR and quarterly dividend Margin Performance 4.7% Margin Adj. EBITDA EBITDA performance improved sequentially when excluding exceptional warranty charges Cash Flow Generation ($1) Million Adj. FCF Cash performance impacted mostly by continued strategic inventory build Q3 2026 Financial Review Delivered double-digit growth-over-market while returning significant capital to shareholders 9 Balance Sheet $136 Million Net Cash Strong balance sheet provides flexibility to continue returning capital to shareholders
Page 10
$917 $970 Q3 2025 Q3 2026 (Dollars in millions) Key Performance Drivers Growth-Over-Market Delivered double-digit GoM driven by outperformance in Europe and Rest of Asia Customer Production Customer-weighted production declined 5%, with most notable decline in China Q3 2026 Sales & EBITDA Performance Strong sales growth and margin performance excluding exceptional warranty charges Commercial Recoveries Continued progress on customer recoveries partially offset inflation on memory and other components Underlying EBITDA Performance Delivered strong EBITDA margins excluding the exceptional warranty charges, reflecting continued strength in underlying operations 10 Adj. EBITDA ($73) Sales +$53 (5%) GoM +10% GoM Exceptional Warranty Charges $46 $119 Q3 2025 Q3 2026 $77 13.0% margin 4.7% margin Recoveries
Page 11
(Dollars in millions) YTD 2025 YTD 2026 Adj. EBITDA $382 $266 Trade Working Capital 36 (99) Cash Taxes (70) (84) Interest Payments Received 8 2 Other Changes (53) 14 Capital Expenditures (88) (103) Adj. Free Cash Flow $215 ($4) YTD 2026 Cash Flow Cash generation impacted by lower EBITDA and working capital headwinds 11 Y/Y Key Drivers Discrete Items H1 cash generation negatively impacted by tax and incentive compensation payments Working Capital Performance Inventory build driven by strategic additions to safety stocks Lower EBITDA Impacted by exceptional warranty charges in Q3, timing of recoveries, and non-recurring items Capital Expenditures Higher capex supporting sales growth and product costing improvements
Page 12
Full Year 2026 Outlook Raising sales guidance while lowering Adj. EBITDA guidance due to exceptional warranty charges Sales $3.80B - $3.85B Adj. EBITDA $370M - $410M Adj. FCF $90M - $130M 12 MSD Growth-over-Market 10.2% Margin ~28% Conversion (1) Current midpoint versus trend of $3.8 billion indicated during Q2 earnings call. Includes $77 Million of Exceptional Warranty Charges • Strong YTD performance while key Q4 launches remain on track • Ramp up of launches more than offset lower customer production • Benefit from higher sales partially offset additional supplier inflation • Margin impact of ~200 bps for the full year from exceptional warranty charges • Deliberate inventory build in place for supply chain resilience • Capital expenditures for the full year remain at ~$150 million • Raising sales guidance by $25 million(1) • Midpoint excl. exceptional warranty charges slightly reduced for cost leakage • Guidance midpoint reduced to account for inventory build
Page 13
Investment Thesis Visteon continues to be a compelling long-term investment opportunity Innovative Product Portfolio Competitive Cost Structure Digital Cockpit Electronics Leader Industry leader in AI-enabled cockpit solutions Portfolio of advanced displays supported by vertical integration Integrated hardware and software platform capabilities Optimizing spend through platform-based approach Leveraging industry-leading engineering footprint Ongoing commercial and operational discipline Leader in digital cockpit across vehicle end markets Enabling the transition to software-defined vehicles Nimble and adaptable to changing environment Strong cash generation supports flexibility and future growth No material near-term debt maturities Capital allocation across capex, M&A, and shareholder returns Balanced Capital Allocation Industry leader for SDV and AI-enabled cockpit solutions with best-in-class cost structure 13
Page 14
Earnings Q&A October 22, 2026
Page 15
Appendix October 22, 2026
Page 16
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 and prolonged shortages of, or unrecoverable price increases in, critical components, including but not limited to semiconductors such as DRAM, particularly where such components are sourced from sole or primary suppliers; • 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 our 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 Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2026. 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. Forward-Looking Statements 16
Page 17
• 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. Use of Non-GAAP Financial Information 17
Page 18
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. 2025 2026 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Gross margin $138 $141 $131 $122 $532 $113 $118 $47 $278 Less: Non-cash, stock-based compensation expense 5 5 4 4 18 5 5 4 14 Intangibles amortization — 1 1 2 4 1 1 2 4 Subtotal $5 $6 $5 $6 $22 $6 $6 $6 $18 Adjusted gross margin $143 $147 $136 $128 $554 $119 $124 $53 $296 2025 2026 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD SG&A $47 $48 $53 $54 $202 $54 $46 $46 $146 Less: Non-cash, stock-based compensation expense (6) (7) (7) (7) (27) (7) (7) (7) (21) Intangibles amortization (1) — (1) (1) (3) (1) (1) — (2) Subtotal ($7) ($7) ($8) ($8) ($30) ($8) ($8) ($7) ($23) Adjusted SG&A $40 $41 $45 $46 $172 $46 $38 $39 $123 18
Page 19
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. 2025 2026 (Dollars and shares in millions, except per share data) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Net income / (loss) attributable to Visteon* $67 $71 ($11) $74 $201 $31 $49 $5 $85 Average shares outstanding, diluted 27.5 27.6 27.3 27.7 27.6 27.3 27.2 26.0 26.8 Earnings / (loss) per share $ 2.44 $ 2.57 $ (0.40) $ 2.67 $ 7.28 $ 1.14 $ 1.80 $ 0.19 $ 3.17 Net income / (loss) attributable to Visteon* $67 $71 ($11) $74 $201 $31 $49 $5 $85 Restructuring, net — 1 3 4 8 18 (1) — 17 Non-operating costs, net 1 1 — 7 9 — 5 — 5 Tax effect of adjustments — (1) — (3) (4) (4) (1) — (5) Subtotal $1 $1 $3 $8 $13 $14 $3 $— $17 Adjusted net income / (loss) $68 $72 ($8) $82 $214 $45 $52 $5 $102 Average shares outstanding, diluted 27.5 27.6 27.3 27.7 27.6 27.3 27.2 26.0 26.8 Adjusted earnings / (loss) per share $ 2.47 $ 2.61 $ (0.29) $ 2.96 $ 7.75 $ 1.65 $ 1.91 $ 0.19 $ 3.81 *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. 19
Page 20
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. 2025 2026 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD FY 2026 Guidance Midpoint Net income / (loss) attributable to Visteon* $67 $71 ($11) $74 $201 $31 $49 $5 $85 $140 Depreciation and amortization 25 27 28 29 109 29 29 31 89 120 Restructuring, net — 1 3 4 8 18 (1) — 17 20 Provision for (benefit from) income taxes* 26 22 90 (13) 125 16 26 1 43 65 Non-cash, stock-based compensation expense 11 12 11 11 45 12 12 11 35 50 Interest (income) expense, net (1) (2) (3) (3) (9) (2) (3) 1 (4) (5) Net income (loss) attributable to non-controlling interests 2 4 2 4 12 2 1 1 4 5 Equity in net loss (income) of non-consolidated affiliates (2) (2) (1) (3) (8) (2) (2) (4) (8) (10) Other, net 1 1 — 7 9 — 5 — 5 5 Subtotal $62 $63 $130 $36 $291 $73 $67 $41 $181 $250 Adjusted EBITDA $129 $134 $119 $110 $492 $104 $116 $46 $266 $390 *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. 20
Page 21
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. 21 2025 2026 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD FY 2026 Guidance Cash flow from (for) operating activities $70 $95 $127 $118 $410 $6 $37 $38 $81 $240 Less: Capital expenditures, including intangibles (35) (31) (22) (45) (133) (36) (25) (42) ($103) (150) Free cash flow $35 $64 $105 $73 $277 ($30) $12 ($4) ($22) $90 Exclude: Restructuring-related payments 3 3 5 4 15 7 8 3 18 20 Adjusted free cash flow $38 $67 $110 $77 $292 ($23) $20 ($1) ($4) $110
Page 22
Adjusted EBITDA Build-up Reconciliation of Non-GAAP Financial Information (cont’d) (Dollars in millions) 2025 2026 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Sales $934 $969 $917 $948 $3,768 $954 $960 $970 $2,884 Gross margin $138 $141 $131 $122 $532 $113 $118 $47 $278 Intangibles amortization — 1 1 2 4 1 1 2 4 Stock-based compensation expense 5 5 4 4 18 5 5 4 14 Adjusted gross margin $143 $147 $136 $128 $554 $119 $124 $53 $296 % of sales 15.3% 15.2% 14.8% 13.5% 14.7% 12.5% 12.9% 5.5% 10.3% SG&A ($47) ($48) ($53) ($54) ($202) ($54) ($46) ($46) ($146) Intangibles amortization 1 — 1 1 3 1 1 — 2 Stock-based compensation expense 6 7 7 7 27 7 7 7 21 Adjusted SG&A ($40) ($41) ($45) ($46) ($172) ($46) ($38) ($39) ($123) Adjusted EBITDA Adjusted gross margin $143 $147 $136 $128 $554 $119 $124 $53 $296 Adjusted SG&A (40) (41) (45) (46) (172) (46) (38) (39) ($123) D&A 24 26 26 26 102 27 27 29 $83 Other income, net 2 2 2 2 8 4 3 3 10 Adjusted EBITDA $129 $134 $119 $110 $492 $104 $116 $46 $266 % of sales 13.8% 13.8% 13.0% 11.6% 13.1% 10.9% 12.1% 4.7% 9.2% Equity income (loss) in affiliates $2 $2 $1 $3 $8 $2 $2 $4 $8 Noncontrolling interests ($2) ($4) ($2) ($4) ($12) ($2) ($1) ($1) ($4) 22
Page 23
Net Engineering 2025 2026 (Dollars in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Engineering costs, gross (80) (88) (90) (106) (364) (94) (97) (83) (274) Recoveries 28 36 32 48 144 37 35 28 100 Engineering costs, net ($52) ($52) ($58) ($58) ($220) ($57) ($62) ($55) ($174) 23
Page 24
Financial Results – U.S. GAAP 2025 2026 (Dollars in millions, except per share data) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Income Statement Sales $934 $969 $917 $948 $3,768 $954 $960 $970 $2,884 Gross margin $138 $141 $131 $122 $532 $113 $118 $47 $278 SG&A $47 $48 $53 $54 $202 $54 $46 $46 $146 Net income / (loss) attributable to Visteon* $67 $71 ($11) $74 $201 $31 $49 $5 $85 Earnings / (loss) per share, diluted $2.44 $2.57 ($0.40) $2.67 $7.28 $1.14 $1.80 $0.19 $3.17 Cash Flow Statement Cash flow from (for) operating activities $70 $95 $127 $118 $410 $6 $37 $38 $81 Capital expenditures, including intangibles $35 $31 $22 $45 $133 $36 $25 $42 $103 *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. 24