Exhibit 99.1 Barclays Global Automotive Conference November 2019 Improving the experience of a world in motionExhibit 99.1 Barclays Global Automotive Conference November 2019 Improving the experience of a world in motion
Important information Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient’s future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient’s control, that could cause Adient’s actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the ability of Adient to effectively launch new business at forecasted and profitable levels, the ability of Adient to execute its turnaround plan, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, the impact of tax reform legislation through the Tax Cuts and Jobs Act, the ability of Adient to meet debt service requirements, terms of financing, general economic and business conditions, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, the cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient’s business is included in the section entitled “Risk Factors” in Adient’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018 filed with the SEC on November 29, 2018 and quarterly reports on Form 10-Q filed with the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document. In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient’s businesses. Such projections reflect various assumptions of Adient’s management concerning the future performance of Adient’s businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions or the projections based thereon. This document also contains non-GAAP financial information because Adient’s management believes it may assist investors in evaluating Adient’s on-going operations. Adient believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to Adient’s financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. A reconciliation of non-GAAP measures to their closest GAAP equivalent are included in the appendix. Reconciliations of non-GAAP measures related to FY2019 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations. Barclays Global Automotive Conference – November 2019 2 Adient – Improving the experience of a world in motionImportant information Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient’s future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient’s control, that could cause Adient’s actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the ability of Adient to effectively launch new business at forecasted and profitable levels, the ability of Adient to execute its turnaround plan, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, the impact of tax reform legislation through the Tax Cuts and Jobs Act, the ability of Adient to meet debt service requirements, terms of financing, general economic and business conditions, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, the cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient’s business is included in the section entitled “Risk Factors” in Adient’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018 filed with the SEC on November 29, 2018 and quarterly reports on Form 10-Q filed with the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document. In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient’s businesses. Such projections reflect various assumptions of Adient’s management concerning the future performance of Adient’s businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions or the projections based thereon. This document also contains non-GAAP financial information because Adient’s management believes it may assist investors in evaluating Adient’s on-going operations. Adient believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to Adient’s financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. A reconciliation of non-GAAP measures to their closest GAAP equivalent are included in the appendix. Reconciliations of non-GAAP measures related to FY2019 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations. Barclays Global Automotive Conference – November 2019 2 Adient – Improving the experience of a world in motion
Today’s agenda and presenters Jerome Dorlack Vice President Seating Americas > Americas overview Jeffrey Stafeil Executive Vice President and Chief Financial Officer > Financial overview Barclays Global Automotive Conference – November 2019 3 Adient – Improving the experience of a world in motionToday’s agenda and presenters Jerome Dorlack Vice President Seating Americas > Americas overview Jeffrey Stafeil Executive Vice President and Chief Financial Officer > Financial overview Barclays Global Automotive Conference – November 2019 3 Adient – Improving the experience of a world in motion
Executive summary Leading competitive position in a strong and vital market > Adient maintains one of the largest market shares (~33%) in a concentrated segment with few global competitors > Well diversified customer mix - no customer is greater than 12% of total consolidated sales > High barriers to entry; replacement business typically won at a high rate (>90%) as switching costs for customers are high Opportunity to materially increase earnings and free cash flow > Bridging the margin gap versus key competitors represents enormous opportunity > Right-sizing structures and mechanisms expected to have positive impact over the next several years > Earnings and cash flow improvement expected from “self-help” initiatives (not dependent on improving industry conditions) New team and plan being deployed > CEO and operating team aligned on turnaround plan > Back-to-basics approach implemented to simplify structure, enhance accountability and speed up decision making > Initiatives to improve profitabilty gaining momentum, as evidenced by Adient‘s H2FY19 financial results Joint venture structure a significant and underappreciated asset > Highly profitable network of JVs generating significant cash flow > Estimated 40% - 45% share of China’s passenger Seating market driven by strategic customer partnerships > Approximately 70% of annual equity income converts into cash dividends > Underlying balance sheets of Chinese JVs very strong (approximately $1.3B of net cash as December 31, 2018) Barclays Global Automotive Conference – November 2019 4 Adient – Improving the experience of a world in motionExecutive summary Leading competitive position in a strong and vital market > Adient maintains one of the largest market shares (~33%) in a concentrated segment with few global competitors > Well diversified customer mix - no customer is greater than 12% of total consolidated sales > High barriers to entry; replacement business typically won at a high rate (>90%) as switching costs for customers are high Opportunity to materially increase earnings and free cash flow > Bridging the margin gap versus key competitors represents enormous opportunity > Right-sizing structures and mechanisms expected to have positive impact over the next several years > Earnings and cash flow improvement expected from “self-help” initiatives (not dependent on improving industry conditions) New team and plan being deployed > CEO and operating team aligned on turnaround plan > Back-to-basics approach implemented to simplify structure, enhance accountability and speed up decision making > Initiatives to improve profitabilty gaining momentum, as evidenced by Adient‘s H2FY19 financial results Joint venture structure a significant and underappreciated asset > Highly profitable network of JVs generating significant cash flow > Estimated 40% - 45% share of China’s passenger Seating market driven by strategic customer partnerships > Approximately 70% of annual equity income converts into cash dividends > Underlying balance sheets of Chinese JVs very strong (approximately $1.3B of net cash as December 31, 2018) Barclays Global Automotive Conference – November 2019 4 Adient – Improving the experience of a world in motion
Adient Americas Region Today Adient is a critical supplier in automotive seating, supplying approximately one out of every three automotive seats worldwide Adient Americas Americas market share* FY19 Revenue Americas revenue by customer We supply Toyota ~$7.8B Ford Lear Adient ~ 33% 6.4M* 14% 16% Consolidated GM seat systems revenue 12% per year FCA 22% Magna 11% Faurecia Honda 8% 10% TS-Tech 7% Other Other Nissan VW *Source: External and management estimates. Barclays Global Automotive Conference – November 2019 5 Adient – Improving the experience of a world in motionAdient Americas Region Today Adient is a critical supplier in automotive seating, supplying approximately one out of every three automotive seats worldwide Adient Americas Americas market share* FY19 Revenue Americas revenue by customer We supply Toyota ~$7.8B Ford Lear Adient ~ 33% 6.4M* 14% 16% Consolidated GM seat systems revenue 12% per year FCA 22% Magna 11% Faurecia Honda 8% 10% TS-Tech 7% Other Other Nissan VW *Source: External and management estimates. Barclays Global Automotive Conference – November 2019 5 Adient – Improving the experience of a world in motion
Adient Americas Footprint United States Canada Canada ▪ Plymouth – Tech Center▪ Tillsonburg – Foam 1 ▪ Avanzar San Antonio – JIT/Components Mexico ▪ Bridgewater Detroit – JIT ▪ Acuna – Trim ▪ Bridgewater Warren – JIT ▪ Aguacalientes – JIT ▪ Bridgewater Estaboga – JIT ▪ Avanzar Apaseo el Grande – JIT ▪ Bridgewater Lansing – JIT ▪ Derramadero – JIT ▪ Columbia – JIT ▪ Ediasa 1 – Trim ▪ Del Rio – Warehouse ▪ Ediasa 3 – Trim ▪ El Paso – Warehouse ▪ Ediasa 4 – Trim ▪ Georgetown – JIT/Foam ▪ Ediasa 6 – Trim ▪ Greenfield – JIT/Foam 28 United States▪ Lerma Fabrics – Fabrics ▪ Madison Heights – Small Parts ▪ Lerma Sequencing Center – JIT/ Trim ▪ Murfreesboro – JIT ▪ Puebla – JIT/Trim ▪ Newark – JIT/Components ▪ Queretaro – Foam & Tech Center ▪ Northwood – JIT Mexico 19▪ Technotrim Monclova – Trim ▪ Princeton – Overheads ▪ Technotrim Saltillo – Foam/Trim ▪ Pulaski – Foam ▪ Matamoros Metals – SS&M ▪ Riverside – JIT ▪ Ramos Metals – SS&M ▪ Setex – JIT ▪ Ramos Stamping –SS&M ▪ Sycamore – JIT South America ▪ Tlaxcala – SS&M ▪ West Point – JIT ▪ Winchester – Service South America 7 ▪ Athens – SS&M 55 Facilities ▪ Sao Jose dos Pinhais – JIT ▪ Battle Creek – SS&M ▪ Gravatai AE Plant – JIT/Foam 5 Countries ▪ Clanton – SS&M ▪ Pouso Alegre – Trim ▪ Eldon – SS&M 36,500 Employees ▪ Quatro Barras Michel Thierry – Fabrics ▪ Lakewood – SS&M ▪ Rosario – JIT/Trim ▪ Lexington – SS&M ▪ Sao Bernado do Campo – JIT & Tech Ctr. Barclays Global Automotive Conference – November 2019 6 Adient – Improving the experience of a world in motionAdient Americas Footprint United States Canada Canada ▪ Plymouth – Tech Center▪ Tillsonburg – Foam 1 ▪ Avanzar San Antonio – JIT/Components Mexico ▪ Bridgewater Detroit – JIT ▪ Acuna – Trim ▪ Bridgewater Warren – JIT ▪ Aguacalientes – JIT ▪ Bridgewater Estaboga – JIT ▪ Avanzar Apaseo el Grande – JIT ▪ Bridgewater Lansing – JIT ▪ Derramadero – JIT ▪ Columbia – JIT ▪ Ediasa 1 – Trim ▪ Del Rio – Warehouse ▪ Ediasa 3 – Trim ▪ El Paso – Warehouse ▪ Ediasa 4 – Trim ▪ Georgetown – JIT/Foam ▪ Ediasa 6 – Trim ▪ Greenfield – JIT/Foam 28 United States▪ Lerma Fabrics – Fabrics ▪ Madison Heights – Small Parts ▪ Lerma Sequencing Center – JIT/ Trim ▪ Murfreesboro – JIT ▪ Puebla – JIT/Trim ▪ Newark – JIT/Components ▪ Queretaro – Foam & Tech Center ▪ Northwood – JIT Mexico 19▪ Technotrim Monclova – Trim ▪ Princeton – Overheads ▪ Technotrim Saltillo – Foam/Trim ▪ Pulaski – Foam ▪ Matamoros Metals – SS&M ▪ Riverside – JIT ▪ Ramos Metals – SS&M ▪ Setex – JIT ▪ Ramos Stamping –SS&M ▪ Sycamore – JIT South America ▪ Tlaxcala – SS&M ▪ West Point – JIT ▪ Winchester – Service South America 7 ▪ Athens – SS&M 55 Facilities ▪ Sao Jose dos Pinhais – JIT ▪ Battle Creek – SS&M ▪ Gravatai AE Plant – JIT/Foam 5 Countries ▪ Clanton – SS&M ▪ Pouso Alegre – Trim ▪ Eldon – SS&M 36,500 Employees ▪ Quatro Barras Michel Thierry – Fabrics ▪ Lakewood – SS&M ▪ Rosario – JIT/Trim ▪ Lexington – SS&M ▪ Sao Bernado do Campo – JIT & Tech Ctr. Barclays Global Automotive Conference – November 2019 6 Adient – Improving the experience of a world in motion
Adient Americas Leadership Team – Back-to-Basics Organization Established three fully integrated Regions with direct functional oversight > Key external hires to accelerate the turnaround > Seating and SS&M combined > Commercial and Program Management combined > Key functional leadership added as direct reports > Extremely positive customer feedback on providing single points of contact Barclays Global Automotive Conference – November 2019 7 Adient – Improving the experience of a world in motionAdient Americas Leadership Team – Back-to-Basics Organization Established three fully integrated Regions with direct functional oversight > Key external hires to accelerate the turnaround > Seating and SS&M combined > Commercial and Program Management combined > Key functional leadership added as direct reports > Extremely positive customer feedback on providing single points of contact Barclays Global Automotive Conference – November 2019 7 Adient – Improving the experience of a world in motion
Adient America’s Turnaround Plan is on Track Despite Challenges FY2019 Stabilization ➢ Renewed emphasis on discipline in fundamentals ➢ ➢ ➢ ➢ ➢ ➢ Barclays Global Automotive Conference – November 2019 8 Adient – Improving the experience of a world in motionAdient America’s Turnaround Plan is on Track Despite Challenges FY2019 Stabilization ➢ Renewed emphasis on discipline in fundamentals ➢ ➢ ➢ ➢ ➢ ➢ Barclays Global Automotive Conference – November 2019 8 Adient – Improving the experience of a world in motion
Stabilizing the Adient Americas Business › Laser focus on waste reduction via plant centered ideology → go and see → then FY19 Cost Improvement Trend $100 deploy world class resources to resolve ($M) $90 $80 › Cross-functional involvement in launches, $70 on the shop floor, yielding benefits in more $60 predictable and increasingly successful launch events $50 $40 $30 › Overall launch complexity continues to $20 trend down after high water mark in FY19: $10 Actual Forecast FY19 FY20 $0 Platinum 3 1 FY19 Operational Inefficiencies H1 H2 Gold 8 5 Barclays Global Automotive Conference – November 2019 9 Adient – Improving the experience of a world in motionStabilizing the Adient Americas Business › Laser focus on waste reduction via plant centered ideology → go and see → then FY19 Cost Improvement Trend $100 deploy world class resources to resolve ($M) $90 $80 › Cross-functional involvement in launches, $70 on the shop floor, yielding benefits in more $60 predictable and increasingly successful launch events $50 $40 $30 › Overall launch complexity continues to $20 trend down after high water mark in FY19: $10 Actual Forecast FY19 FY20 $0 Platinum 3 1 FY19 Operational Inefficiencies H1 H2 Gold 8 5 Barclays Global Automotive Conference – November 2019 9 Adient – Improving the experience of a world in motion
Americas Delivers Flawless Launch of the New Daimler GLB Back to basics approach is delivering strong results > The all-new Daimler Mercedes- Benz GLB completed a flawless seating launch in Q4 of FY19 > Achieved all Adient launch performance metrics through the measurement window > This vehicle continues to reinforce Adient’s strategy of increasing content through three row SUVs > Successfully executing this Gold launch demonstrates significant Y-O-Y improvement in the Americas region This highlights one of the Americas 48 flawless launches in FY19 Barclays Global Automotive Conference – November 2019 10 Adient – Improving the experience of a world in motionAmericas Delivers Flawless Launch of the New Daimler GLB Back to basics approach is delivering strong results > The all-new Daimler Mercedes- Benz GLB completed a flawless seating launch in Q4 of FY19 > Achieved all Adient launch performance metrics through the measurement window > This vehicle continues to reinforce Adient’s strategy of increasing content through three row SUVs > Successfully executing this Gold launch demonstrates significant Y-O-Y improvement in the Americas region This highlights one of the Americas 48 flawless launches in FY19 Barclays Global Automotive Conference – November 2019 10 Adient – Improving the experience of a world in motion
Transitioning to the Improvement Phase of the Americas Turnaround Operational Program Cost Management Customer Excellence Management Satisfaction ➢ Clear KPIs for ➢ Effective ➢ Strong VA/VE ➢ Customer each plant management discipline aligned cadence resources ➢ Compensation ➢ Effective aligned to ➢ Ownership Product Change ➢ Improve EBITDA mindset Management Problem Solving capabilities ➢ Increased asset ➢ Strong plant ➢ New Purchasing utilization and support Cost Tables and ➢ Improve improved OEE processes Customer Scorecards Barclays Global Automotive Conference – November 2019 11 Adient – Improving the experience of a world in motionTransitioning to the Improvement Phase of the Americas Turnaround Operational Program Cost Management Customer Excellence Management Satisfaction ➢ Clear KPIs for ➢ Effective ➢ Strong VA/VE ➢ Customer each plant management discipline aligned cadence resources ➢ Compensation ➢ Effective aligned to ➢ Ownership Product Change ➢ Improve EBITDA mindset Management Problem Solving capabilities ➢ Increased asset ➢ Strong plant ➢ New Purchasing utilization and support Cost Tables and ➢ Improve improved OEE processes Customer Scorecards Barclays Global Automotive Conference – November 2019 11 Adient – Improving the experience of a world in motion
Financial overview Barclays Global Automotive Conference – November 2019 12 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motionFinancial overview Barclays Global Automotive Conference – November 2019 12 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motion
1 FY 2019 key financials FY19 Q1 FY19 Q2 FY19 Q3 FY19 Q4 Sales ($ Millions) $4,158 $4,228 $4,219 $3,921 Third Adjusted EBITDA ($ Millions) 176 191 205 215 consecutive quarter of Margin 4.23% 4.52% 4.86% 5.48% sequential improvement Margin excl. Equity Income 2.24% 3.03% 3.29% 3.60% Improved operational performance in Americas and EMEA has driven sequential improvement in Adient’s financial results – more than offsetting weaker than expected market conditions in China and impact of GM strike 1 – On an adjusted basis, see appendix for detail and reconciliation to U.S. GAAP Barclays Global Automotive Conference – November 2019 13 Adient – Improving the experience of a world in motion1 FY 2019 key financials FY19 Q1 FY19 Q2 FY19 Q3 FY19 Q4 Sales ($ Millions) $4,158 $4,228 $4,219 $3,921 Third Adjusted EBITDA ($ Millions) 176 191 205 215 consecutive quarter of Margin 4.23% 4.52% 4.86% 5.48% sequential improvement Margin excl. Equity Income 2.24% 3.03% 3.29% 3.60% Improved operational performance in Americas and EMEA has driven sequential improvement in Adient’s financial results – more than offsetting weaker than expected market conditions in China and impact of GM strike 1 – On an adjusted basis, see appendix for detail and reconciliation to U.S. GAAP Barclays Global Automotive Conference – November 2019 13 Adient – Improving the experience of a world in motion
Americas and EMEA driving H2 improvement Adj.-EBITDA performance H2 vs H1 FY19 > Turnaround actions implemented in the Americas and EMEA throughout FY19 Americas Total Adient * gained traction and drove just under +$56M $77M 2.00% +$53M $100M in improved Adj.-EBITDA performance in H2 vs. H1 +138 bps +78 bps 3.38% $133M > Margins improved 138 bps and 129 $420M bps for Americas and EMEA, EMEA respectively, H2 vs. H1 > Worse than expected industry headwinds 1.78% $61M +$39M 5.16% in China partially offset the improved $367M +129 bps operating results within the Americas and 3.07% $100M EMEA 4.38% > The Asia region successfully flexed Asia headcount and fixed costs to limit ** 10.97% the negative impact of the $277M -$41M significant volume decline ** 9.74% -123 bps $236M * Includes corporate of $(48)M in H1 and $(49)M H2 H1 H2 ** Adj. – EBITDA margin excluding equity income Barclays Global Automotive Conference – November 2019 14 Adient – Improving the experience of a world in motionAmericas and EMEA driving H2 improvement Adj.-EBITDA performance H2 vs H1 FY19 > Turnaround actions implemented in the Americas and EMEA throughout FY19 Americas Total Adient * gained traction and drove just under +$56M $77M 2.00% +$53M $100M in improved Adj.-EBITDA performance in H2 vs. H1 +138 bps +78 bps 3.38% $133M > Margins improved 138 bps and 129 $420M bps for Americas and EMEA, EMEA respectively, H2 vs. H1 > Worse than expected industry headwinds 1.78% $61M +$39M 5.16% in China partially offset the improved $367M +129 bps operating results within the Americas and 3.07% $100M EMEA 4.38% > The Asia region successfully flexed Asia headcount and fixed costs to limit ** 10.97% the negative impact of the $277M -$41M significant volume decline ** 9.74% -123 bps $236M * Includes corporate of $(48)M in H1 and $(49)M H2 H1 H2 ** Adj. – EBITDA margin excluding equity income Barclays Global Automotive Conference – November 2019 14 Adient – Improving the experience of a world in motion
1 Cash flow & debt Free Cash Flow Debt > Cash and cash equivalents of $924M at September 30, 2019 FY19 FY18 (in $ millions) Q4 FY19 Full Year Q4 FY18 Full Year > No near-term maturities Adjusted-EBITDA $ 215 $ 787 $ 250 $ 1 ,196 > Adient will continue to monitor and assess its cash position (+/-) Net Equity in Earnings (53) (68) (77) (96) (deleveraging is a priority) Highly (-) Restructuring (18) (130) (35) ( 174) sensitive (-) Becoming ADNT - - (12) (50) to quarter end dates (+/-) Net Customer Tooling 30 73 51 31 (+/-) Past Due Receivables (14) (1) 20 18 Net Debt (+/-) Trade Working Capital (Net AR/AP + Inventory) (91) ( 179) 307 174 (+/-) Accrued Compensation (31) 17 (16) (135) September 30 September 30 (-) Interest paid (55) ( 137) (56) (143) (in $ millions) 2019 2018 (-) Taxes paid (24) (112) 6 (138) (+/-) Other 43 58 1 (4) Operating Cash flow $ 2 $ 308 $ 439 $ 679 Cash $ 924 $ 687 (2) (-) CapEx (118) ( 468) ( 132) ( 536) (3) Total Debt 3,738 3,430 Free Cash flow $ (116) $ (160) $ 307 $ 143 Net Debt $ 2,814 $ 2,743 1 – Free cash flow defined as operating cash flow less CapEx 2 - CapEx by segment for the quarter: Americas $51M, EMEA $56M, Asia $11M; CapEx by segment for the fiscal year: Americas $190M, EMEA $237M, Asia $41M 3 – FY18 Free cash flow excluding benefits associated with the expansion of an accounts receivable financing facility $1M Barclays Global Automotive Conference – November 2019 15 Adient – Improving the experience of a world in motion1 Cash flow & debt Free Cash Flow Debt > Cash and cash equivalents of $924M at September 30, 2019 FY19 FY18 (in $ millions) Q4 FY19 Full Year Q4 FY18 Full Year > No near-term maturities Adjusted-EBITDA $ 215 $ 787 $ 250 $ 1 ,196 > Adient will continue to monitor and assess its cash position (+/-) Net Equity in Earnings (53) (68) (77) (96) (deleveraging is a priority) Highly (-) Restructuring (18) (130) (35) ( 174) sensitive (-) Becoming ADNT - - (12) (50) to quarter end dates (+/-) Net Customer Tooling 30 73 51 31 (+/-) Past Due Receivables (14) (1) 20 18 Net Debt (+/-) Trade Working Capital (Net AR/AP + Inventory) (91) ( 179) 307 174 (+/-) Accrued Compensation (31) 17 (16) (135) September 30 September 30 (-) Interest paid (55) ( 137) (56) (143) (in $ millions) 2019 2018 (-) Taxes paid (24) (112) 6 (138) (+/-) Other 43 58 1 (4) Operating Cash flow $ 2 $ 308 $ 439 $ 679 Cash $ 924 $ 687 (2) (-) CapEx (118) ( 468) ( 132) ( 536) (3) Total Debt 3,738 3,430 Free Cash flow $ (116) $ (160) $ 307 $ 143 Net Debt $ 2,814 $ 2,743 1 – Free cash flow defined as operating cash flow less CapEx 2 - CapEx by segment for the quarter: Americas $51M, EMEA $56M, Asia $11M; CapEx by segment for the fiscal year: Americas $190M, EMEA $237M, Asia $41M 3 – FY18 Free cash flow excluding benefits associated with the expansion of an accounts receivable financing facility $1M Barclays Global Automotive Conference – November 2019 15 Adient – Improving the experience of a world in motion
Outlook – key drivers expected to influence FY20 Lower launch costs Softening end markets (lower volumes / negative mix) VAVE initiatives Commercial discipline Operational improvements (full year run rate of FY19 actions + FY20 actions) FX Reduced launch activity Adient’s self-help opportunities are expected to drive improved earnings and cash flow in FY20 despite increased macro headwinds Barclays Global Automotive Conference – November 2019 16 Adient – Improving the experience of a world in motionOutlook – key drivers expected to influence FY20 Lower launch costs Softening end markets (lower volumes / negative mix) VAVE initiatives Commercial discipline Operational improvements (full year run rate of FY19 actions + FY20 actions) FX Reduced launch activity Adient’s self-help opportunities are expected to drive improved earnings and cash flow in FY20 despite increased macro headwinds Barclays Global Automotive Conference – November 2019 16 Adient – Improving the experience of a world in motion
FY20 Outlook – key financial metrics * Consolidated sales > FY20 consolidated sales expected to range between $15.6B and $15.8B ~$15.6B - $15.8B > Key focus areas (operational improvements, launch management, cost containment and Adj.-EBITDA commercial discipline) expected to drive earnings growth in FY20 vs. FY19 ~$820M - $860M > Improved performance for the metals business is expected to be a key driver in Equity income earnings and margins growth in Americas and EMEA ~$265M - $275M > Improved operating results expected to be partially offset by certain macro (incl. in Adj. EBITDA; YFAI$45M) pressures such as lower volumes and FX Interest expense > Focused capital expenditures supporting customer launch plans; opportunity to further ~$200M reduce in out years > Increased operating profit, focus on capital expenditures and a decrease in cash Cash tax restructuring expected to drive improved FCF vs. FY19 ~$100M - $110M Memo: ETR: high 30% range Other modeling considerations > FY20 depreciation of ~$300M, up slightly vs FY19, driven primarily by SS&M asset CapEx impairment occurrences during FY19 ~$465M - $485M > Non-controlling interest expected to trend higher in FY20 vs FY19, driven primarily by Free cash flow the reduced ownership stake in Adient Aerospace (~$10-15M) Breakeven Reconciliations of non-GAAP measures related to FY2020 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations * FY2020 outlook was previously issued on November 7, 2019 (the date of Adient’s FY2019-Q4 earnings release) and is not being updated in this presentation Barclays Global Automotive Conference – November 2019 17 Adient – Improving the experience of a world in motionFY20 Outlook – key financial metrics * Consolidated sales > FY20 consolidated sales expected to range between $15.6B and $15.8B ~$15.6B - $15.8B > Key focus areas (operational improvements, launch management, cost containment and Adj.-EBITDA commercial discipline) expected to drive earnings growth in FY20 vs. FY19 ~$820M - $860M > Improved performance for the metals business is expected to be a key driver in Equity income earnings and margins growth in Americas and EMEA ~$265M - $275M > Improved operating results expected to be partially offset by certain macro (incl. in Adj. EBITDA; YFAI$45M) pressures such as lower volumes and FX Interest expense > Focused capital expenditures supporting customer launch plans; opportunity to further ~$200M reduce in out years > Increased operating profit, focus on capital expenditures and a decrease in cash Cash tax restructuring expected to drive improved FCF vs. FY19 ~$100M - $110M Memo: ETR: high 30% range Other modeling considerations > FY20 depreciation of ~$300M, up slightly vs FY19, driven primarily by SS&M asset CapEx impairment occurrences during FY19 ~$465M - $485M > Non-controlling interest expected to trend higher in FY20 vs FY19, driven primarily by Free cash flow the reduced ownership stake in Adient Aerospace (~$10-15M) Breakeven Reconciliations of non-GAAP measures related to FY2020 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations * FY2020 outlook was previously issued on November 7, 2019 (the date of Adient’s FY2019-Q4 earnings release) and is not being updated in this presentation Barclays Global Automotive Conference – November 2019 17 Adient – Improving the experience of a world in motion
Reasons to invest in Adient Leveraging our Increased Focused on the leading position shareholder core business in China value Critical supplier in the Unique and longstanding automotive seating business, position in China through our with a leading market position joint venture structure New management team in place executing a comprehensive Market leader turnaround plan Strong operating performance Significant opportunity to improve earnings and with significant and stable cash flow cash position Barclays Global Automotive Conference – November 2019 18 Adient – Improving the experience of a world in motionReasons to invest in Adient Leveraging our Increased Focused on the leading position shareholder core business in China value Critical supplier in the Unique and longstanding automotive seating business, position in China through our with a leading market position joint venture structure New management team in place executing a comprehensive Market leader turnaround plan Strong operating performance Significant opportunity to improve earnings and with significant and stable cash flow cash position Barclays Global Automotive Conference – November 2019 18 Adient – Improving the experience of a world in motion
APPENDIX - Company overview Barclays Global Automotive Conference – November 2019 19 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motionAPPENDIX - Company overview Barclays Global Automotive Conference – November 2019 19 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motion
Adient today Adient is a critical supplier in automotive seating, supplying approximately one out of every three automotive seats worldwide NYSE: ADNT FY19 Revenue Global market Revenue by share (2018 market ~$60B)* geography* ~$16.5B ~$7.9B Europe / Americas Consolidated Unconsolidated Lear Africa Adient revenue seating revenue 23M+ 33% 33% 27% seat systems ~$7.6B per year Strong and diversified revenue mix: Faurecia Unconsolidated 6% 34% Passenger car ~37% interiors revenue Asia / China Truck ~23% Other Pacific Toyota CUV / SUV ~40% Boshoku Magna *Adient share includes non-consolidated revenue. Revenue by geography based on FY2019 (consolidated and non-consolidated). Source: External and management estimates. Barclays Global Automotive Conference – November 2019 20 Adient – Improving the experience of a world in motionAdient today Adient is a critical supplier in automotive seating, supplying approximately one out of every three automotive seats worldwide NYSE: ADNT FY19 Revenue Global market Revenue by share (2018 market ~$60B)* geography* ~$16.5B ~$7.9B Europe / Americas Consolidated Unconsolidated Lear Africa Adient revenue seating revenue 23M+ 33% 33% 27% seat systems ~$7.6B per year Strong and diversified revenue mix: Faurecia Unconsolidated 6% 34% Passenger car ~37% interiors revenue Asia / China Truck ~23% Other Pacific Toyota CUV / SUV ~40% Boshoku Magna *Adient share includes non-consolidated revenue. Revenue by geography based on FY2019 (consolidated and non-consolidated). Source: External and management estimates. Barclays Global Automotive Conference – November 2019 20 Adient – Improving the experience of a world in motion
We are located where our customers need us most Global locations manufacturing facilities 220 countries 35 Global employees 83,000 Barclays Global Automotive Conference – November 2019 Adient – Improving the experience of a world in motion 21 Adient - Improving the experience of a world in motionWe are located where our customers need us most Global locations manufacturing facilities 220 countries 35 Global employees 83,000 Barclays Global Automotive Conference – November 2019 Adient – Improving the experience of a world in motion 21 Adient - Improving the experience of a world in motion
Strong customer diversification JLR 2% Others Ford 10% PSA 11% > Industry leading diversification 2% > By customer We work with the FCA 10% No customer is greater than 12% of BMW world’s largest total consolidated sales 5% N. American OEM's 27% automotive > By platform GM Volvo 6% European 6% No platform is greater than ~5% of OEM's manufacturers 36% total consolidated sales Asian OEM's Daimler across the globe Toyota 27% 7% 8% > Ability to leverage products across customers and regions Nissan VW 8% 12% > Scale provides leverage to optimize cost structure Hyundai/ Honda Kia 6% 4% Based on ADNT’s FY19 consolidated sales Barclays Global Automotive Conference – November 2019 22 Adient – Improving the experience of a world in motionStrong customer diversification JLR 2% Others Ford 10% PSA 11% > Industry leading diversification 2% > By customer We work with the FCA 10% No customer is greater than 12% of BMW world’s largest total consolidated sales 5% N. American OEM's 27% automotive > By platform GM Volvo 6% European 6% No platform is greater than ~5% of OEM's manufacturers 36% total consolidated sales Asian OEM's Daimler across the globe Toyota 27% 7% 8% > Ability to leverage products across customers and regions Nissan VW 8% 12% > Scale provides leverage to optimize cost structure Hyundai/ Honda Kia 6% 4% Based on ADNT’s FY19 consolidated sales Barclays Global Automotive Conference – November 2019 22 Adient – Improving the experience of a world in motion
Our Seating Joint Venture partnerships in China enable us to enjoy a clear leadership position in China We generated We have We have ~79 $7.4B 19 manufacturing * seating joint ventures sales revenue in FY2019 locations with We employ 4 global tech centers ~ 40% - 45% 31,000 combined share of the ** highly engaged employees passenger vehicle market in30 cities including >1,400 engineers Note: Sales revenue and all other data on slide exclude YFAI * Includes six consolidated JVs ** Based on FY19 mgmt. estimates Barclays Global Automotive Conference – November 2019 23 Adien Adient t – – Im Impr proving oving the the expe experienc rience e of of a a wo world rld in in motion motionOur Seating Joint Venture partnerships in China enable us to enjoy a clear leadership position in China We generated We have We have ~79 $7.4B 19 manufacturing * seating joint ventures sales revenue in FY2019 locations with We employ 4 global tech centers ~ 40% - 45% 31,000 combined share of the ** highly engaged employees passenger vehicle market in30 cities including >1,400 engineers Note: Sales revenue and all other data on slide exclude YFAI * Includes six consolidated JVs ** Based on FY19 mgmt. estimates Barclays Global Automotive Conference – November 2019 23 Adien Adient t – – Im Impr proving oving the the expe experienc rience e of of a a wo world rld in in motion motion
Adient delivers a diverse range of seating products and solutions We partner with OEMs to develop customized seating systems that excel in quality and craftsmanship We utilize lightweight, innovative materials to enhance fuel efficiency and vehicle differentiation STRUCTURES AND FOAM FABRICS TRIM MECHANISMS From front and rear structures Every year, we produce 300 Whether it’s the leather on a seat We deliver complete cut-and- to tracks, recliners, height million chemical pounds of and head restraint or the woven sew solutions for seats, armrests adjusters and locks, our products foam for automotive cushions, material over a door panel and and head restraint covers on a are based on standardized, backrests, head restraints and armrest, our fabrics create an just-in-time basis. Our state-of- modular designs, making them more. Our expertise delivers emotional appeal to consumers. the-art trim technology and compatible with a majority of high-quality, high-performance From embossing and embroidery employees’ craftsmanship vehicle makes and models. foam formulations that deliver to high-frequency welding and deliver customized, perfectly passenger comfort without inkjet printing, the design shaped seat covers. sacrificing safety. possibilities are endless. Barclays Global Automotive Conference – November 2019 24 Adient – Improving the experience of a world in motionAdient delivers a diverse range of seating products and solutions We partner with OEMs to develop customized seating systems that excel in quality and craftsmanship We utilize lightweight, innovative materials to enhance fuel efficiency and vehicle differentiation STRUCTURES AND FOAM FABRICS TRIM MECHANISMS From front and rear structures Every year, we produce 300 Whether it’s the leather on a seat We deliver complete cut-and- to tracks, recliners, height million chemical pounds of and head restraint or the woven sew solutions for seats, armrests adjusters and locks, our products foam for automotive cushions, material over a door panel and and head restraint covers on a are based on standardized, backrests, head restraints and armrest, our fabrics create an just-in-time basis. Our state-of- modular designs, making them more. Our expertise delivers emotional appeal to consumers. the-art trim technology and compatible with a majority of high-quality, high-performance From embossing and embroidery employees’ craftsmanship vehicle makes and models. foam formulations that deliver to high-frequency welding and deliver customized, perfectly passenger comfort without inkjet printing, the design shaped seat covers. sacrificing safety. possibilities are endless. Barclays Global Automotive Conference – November 2019 24 Adient – Improving the experience of a world in motion
Well positioned innovation and product portfolio Global Industry trends Implications for seating • Safety • Changes in vehicle architecture & power managment • Electrification • Light-weight • Slim & lightweight • Low block height • Connectivity • Smart, individualized heating & cooling • Urbanization • Changes in vehicle features • Shared ownership/ride • Passenger health & safety status sensor • Internet of Things • Pre-adjustment of seat for shared mobility • Smart materials • Autonomous driving • Changes in seating functionality & • Individualization safety • Multi-purpose swivel structure • New shapes • “Business-class” type comfort seats • New safety standards (crash requirements) Barclays Global Automotive Conference – November 2019 25 Adient – Improving the experience of a world in motionWell positioned innovation and product portfolio Global Industry trends Implications for seating • Safety • Changes in vehicle architecture & power managment • Electrification • Light-weight • Slim & lightweight • Low block height • Connectivity • Smart, individualized heating & cooling • Urbanization • Changes in vehicle features • Shared ownership/ride • Passenger health & safety status sensor • Internet of Things • Pre-adjustment of seat for shared mobility • Smart materials • Autonomous driving • Changes in seating functionality & • Individualization safety • Multi-purpose swivel structure • New shapes • “Business-class” type comfort seats • New safety standards (crash requirements) Barclays Global Automotive Conference – November 2019 25 Adient – Improving the experience of a world in motion
APPENDIX – Financial reconciliations Barclays Global Automotive Conference – November 2019 26 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motionAPPENDIX – Financial reconciliations Barclays Global Automotive Conference – November 2019 26 Adien Adien t –t Im – Im prov proving ing the the exexpe perienc rienc e of e of a wo a wo rld rld in in motion motion
Non-GAAP financial measurements > Adjusted EBIT, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income attributable to Adient, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted free cash flow, Net debt and Net leverage as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. > Adjusted EBIT, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income attributable to Adient, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted free cash flow, Net debt and Net leverage are measures used by management to evaluate the operating performance of the company and its business segments to forecast future periods. ‒ Adjusted EBIT is defined as income before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales. ‒ Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and stock based compensation. Certain corporate-related costs are not allocated to the business segments in determining Adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales. ‒ Adjusted net income attributable to Adient is defined as net income attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits. ‒ Adjusted effective tax rate is defined as adjusted income tax provision as a percentage of adjusted income before income taxes. ‒ Adjusted earnings per share is defined as Adjusted net income attributable to Adient divided by diluted weighted average shares. ‒ Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or one-time items impacting equity income. ‒ Free cash flow is defined as cash from operating activities less capital expenditures. ‒ Adjusted free cash flow is defined as free cash flow adjusted for cash transferred from the former Parent post separation. ‒ Net debt is calculated as gross debt less cash and cash equivalents. ‒ Management uses these measures to evaluate the performance of ongoing operations separate from items that may have a disproportionate impact on any particular period. These measures are also used by securities analysts, institutional investors and other interested parties in the evaluation of companies in our industry Barclays Global Automotive Conference – November 2019 27 Adient – Improving the experience of a world in motionNon-GAAP financial measurements > Adjusted EBIT, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income attributable to Adient, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted free cash flow, Net debt and Net leverage as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. > Adjusted EBIT, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income attributable to Adient, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted free cash flow, Net debt and Net leverage are measures used by management to evaluate the operating performance of the company and its business segments to forecast future periods. ‒ Adjusted EBIT is defined as income before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales. ‒ Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and stock based compensation. Certain corporate-related costs are not allocated to the business segments in determining Adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales. ‒ Adjusted net income attributable to Adient is defined as net income attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits. ‒ Adjusted effective tax rate is defined as adjusted income tax provision as a percentage of adjusted income before income taxes. ‒ Adjusted earnings per share is defined as Adjusted net income attributable to Adient divided by diluted weighted average shares. ‒ Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or one-time items impacting equity income. ‒ Free cash flow is defined as cash from operating activities less capital expenditures. ‒ Adjusted free cash flow is defined as free cash flow adjusted for cash transferred from the former Parent post separation. ‒ Net debt is calculated as gross debt less cash and cash equivalents. ‒ Management uses these measures to evaluate the performance of ongoing operations separate from items that may have a disproportionate impact on any particular period. These measures are also used by securities analysts, institutional investors and other interested parties in the evaluation of companies in our industry Barclays Global Automotive Conference – November 2019 27 Adient – Improving the experience of a world in motion
Non-GAAP reconciliations - EBIT, Adjusted EBIT, Adjusted EBITDA Three months ended September 30 Twelve months ended September 30 2019 2018 2019 2018 1 (in $ millions) GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted Net sales $ 3,921 $ - $ 3,921 $ 4,145 $ - $ 4,145 $ 16,526 $ - $ 16,526 $ 17,439 $ - $ 17,439 (2) Cost of sales 3,708 (4) 3,704 3,969 (25) 3,944 15,725 (33) 15,692 16,535 (128) 16,407 Gross profit 213 4 217 176 25 201 801 33 834 904 128 1,032 (3) Selling, general and administrative expenses 160 (7) 153 155 (13) 142 671 (40) 631 730 (79) 651 (4) Restructuring and impairment costs 17 (17) - 809 (809) - 176 (176) - 1,181 (1,181) - (5) Equity income (loss) 66 8 74 (281) 370 89 275 11 286 (13) 398 385 Earnings (loss) before interest and income taxes (EBIT) $ 102 $ 36 $ 138 $ (1,069) $ 1,217 $ 148 $ 229 $ 260 $ 489 $ (1,020) $ 1,786 $ 766 Ebit margin: 2.60% 3.52% * 3.57% 1.39% 2.96% * 4.39% Ebit margin excluding Equity Income: 0.92% 1.63% * 1.42% -0.28% 1.23% * 2.18% * Measure not meaningful Memo accounts: Depreciation 73 99 278 393 Stock based compensation costs 4 3 20 37 Adjusted EBITDA $ 215 $ 250 $ 787 $ 1,196 Adjusted EBITDA margin: 5.48% 6.03% 4.76% 6.86% Adjusted EBITDA margin excluding Equity Income: 3.60% 3.88% 3.03% 4.65% 1 The presentation of certain amounts have been revised from what was previously reported to retrospectively adopt Accounting Standard Update (ASU) 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost. See Note 4, Revisions to Previously Reported Amounts , for more information. Three months ended September 30 Twelve months ended September 30 2019 2018 2019 2018 Purchase accounting amortization $ 2 $ 1 $ 5 $ 1 Restructuring related charges 1 12 24 51 Futuris integration 1 3 4 18 Becoming Adient - 9 - 46 Prior period adjustments - - - 8 Other - - - 4 2 Cost of sales adjustment $ 4 $ 25 $ 33 $ 128 Purchase accounting amortization $ 7 $ 10 $ 35 $ 46 Becoming Adient - 3 - 16 Restructuring related charges - - 2 1 Transaction costs - - 3 1 Futuris integration - - - 4 SS&M non-recurring consulting fees - - - 11 3 Selling, general and administrative adjustment $ 7 $ 13 $ 40 $ 79 Restructuring charges $ 5 $ 25 $ 92 $ 46 Long-lived asset impairment - SS&M - 787 66 787 Held for sale asset adjustments * 12 (3) 18 49 Goodwill impairment - - - 299 4 Restructuring and impairment adjustment $ 17 $ 809 $ 176 $ 1,181 * Relates primarily to the India Tech Center for the three months ended September 30, 2019 and the Detroit properties and airplanes for fiscal year 2018 Purchase accounting amortization $ 3 $ 6 $ 4 $ 22 Restructuring related charges 3 6 5 10 Impairment of YFAI investment - 358 - 358 Tax adjustment at YFAI 2 - 2 8 5 Equity income adjustment $ 8 $ 370 $ 11 $ 398 Barclays Global Automotive Conference – November 2019 28Non-GAAP reconciliations - EBIT, Adjusted EBIT, Adjusted EBITDA Three months ended September 30 Twelve months ended September 30 2019 2018 2019 2018 1 (in $ millions) GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted Net sales $ 3,921 $ - $ 3,921 $ 4,145 $ - $ 4,145 $ 16,526 $ - $ 16,526 $ 17,439 $ - $ 17,439 (2) Cost of sales 3,708 (4) 3,704 3,969 (25) 3,944 15,725 (33) 15,692 16,535 (128) 16,407 Gross profit 213 4 217 176 25 201 801 33 834 904 128 1,032 (3) Selling, general and administrative expenses 160 (7) 153 155 (13) 142 671 (40) 631 730 (79) 651 (4) Restructuring and impairment costs 17 (17) - 809 (809) - 176 (176) - 1,181 (1,181) - (5) Equity income (loss) 66 8 74 (281) 370 89 275 11 286 (13) 398 385 Earnings (loss) before interest and income taxes (EBIT) $ 102 $ 36 $ 138 $ (1,069) $ 1,217 $ 148 $ 229 $ 260 $ 489 $ (1,020) $ 1,786 $ 766 Ebit margin: 2.60% 3.52% * 3.57% 1.39% 2.96% * 4.39% Ebit margin excluding Equity Income: 0.92% 1.63% * 1.42% -0.28% 1.23% * 2.18% * Measure not meaningful Memo accounts: Depreciation 73 99 278 393 Stock based compensation costs 4 3 20 37 Adjusted EBITDA $ 215 $ 250 $ 787 $ 1,196 Adjusted EBITDA margin: 5.48% 6.03% 4.76% 6.86% Adjusted EBITDA margin excluding Equity Income: 3.60% 3.88% 3.03% 4.65% 1 The presentation of certain amounts have been revised from what was previously reported to retrospectively adopt Accounting Standard Update (ASU) 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost. See Note 4, Revisions to Previously Reported Amounts , for more information. Three months ended September 30 Twelve months ended September 30 2019 2018 2019 2018 Purchase accounting amortization $ 2 $ 1 $ 5 $ 1 Restructuring related charges 1 12 24 51 Futuris integration 1 3 4 18 Becoming Adient - 9 - 46 Prior period adjustments - - - 8 Other - - - 4 2 Cost of sales adjustment $ 4 $ 25 $ 33 $ 128 Purchase accounting amortization $ 7 $ 10 $ 35 $ 46 Becoming Adient - 3 - 16 Restructuring related charges - - 2 1 Transaction costs - - 3 1 Futuris integration - - - 4 SS&M non-recurring consulting fees - - - 11 3 Selling, general and administrative adjustment $ 7 $ 13 $ 40 $ 79 Restructuring charges $ 5 $ 25 $ 92 $ 46 Long-lived asset impairment - SS&M - 787 66 787 Held for sale asset adjustments * 12 (3) 18 49 Goodwill impairment - - - 299 4 Restructuring and impairment adjustment $ 17 $ 809 $ 176 $ 1,181 * Relates primarily to the India Tech Center for the three months ended September 30, 2019 and the Detroit properties and airplanes for fiscal year 2018 Purchase accounting amortization $ 3 $ 6 $ 4 $ 22 Restructuring related charges 3 6 5 10 Impairment of YFAI investment - 358 - 358 Tax adjustment at YFAI 2 - 2 8 5 Equity income adjustment $ 8 $ 370 $ 11 $ 398 Barclays Global Automotive Conference – November 2019 28
Non-GAAP reconciliations - EBIT, Adjusted EBIT, Adjusted EBITDA Three months ended December 31 Three months ended March 31 Three months ended June 30 2018 2019 2019 (prior periods) (in $ millions) GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted Net sales $ 4,158 $ - $ 4,158 $ 4,228 $ - $ 4,228 $ 4,219 $ - $ 4,219 (1) Cost of sales 3,978 (10) 3,968 4,031 (14) 4,017 4,008 ( 6) 4,002 Gross profit 180 10 190 197 14 211 211 6 217 (2) Selling, general and administrative expenses 178 (10) 168 168 (11) 157 165 (11) 154 (3) Restructuring and impairment costs 31 (31) - 113 (113) - 15 (15) - (4) Equity income (loss) 83 - 83 62 1 63 64 2 66 Earnings (loss) before interest and income taxes (EBIT) $ 54 $ 51 $ 105 $ (22) $ 139 $ 117 $ 95 $ 34 $ 129 Ebit margin: 1.30% 2.53% * 2.77% 2.25% 3.06% Ebit margin excluding Equity Income: * 0.53% * 1.28% 0.73% 1.49% * Measure not meaningful Memo accounts: Depreciation 65 72 68 Stock based compensation costs 6 2 8 Adjusted EBITDA $ 176 $ 191 $ 205 Adjusted EBITDA margin: 4.23% 4.52% 4.86% Adjusted EBITDA margin excluding Equity Income: 2.24% 3.03% 3.29% Three months ended December 31 Three months ended March 31 Three months ended June 30 2018 2019 2019 Purchase accounting amortization $ - $ 1 $ 2 Restructuring related charges 9 11 3 Futuris integration 1 2 1 1 Cost of sales adjustment $ 10 $ 14 $ 6 Purchase accounting amortization $ 10 $ 9 $ 9 Restructuring related charges - 1 - Transaction costs - 1 2 2 Selling, general and administrative adjustment $ 10 $ 11 $ 11 Restructuring charges $ 25 $ 47 $ 15 Long-lived asset impairment - SS&M - 66 - Held for sale adjustments 6 - - 3 Restructuring and impairment adjustment $ 31 $ 113 $ 15 Purchase accounting ammortization $ - $ - $ - Restructuring related charges - 1 2 Tax adjustments at YFAI - - - 4 Equity income adjustment $ - $ 1 $ 2 Barclays Global Automotive Conference – November 2019 29Non-GAAP reconciliations - EBIT, Adjusted EBIT, Adjusted EBITDA Three months ended December 31 Three months ended March 31 Three months ended June 30 2018 2019 2019 (prior periods) (in $ millions) GAAP Adj. Adjusted GAAP Adj. Adjusted GAAP Adj. Adjusted Net sales $ 4,158 $ - $ 4,158 $ 4,228 $ - $ 4,228 $ 4,219 $ - $ 4,219 (1) Cost of sales 3,978 (10) 3,968 4,031 (14) 4,017 4,008 ( 6) 4,002 Gross profit 180 10 190 197 14 211 211 6 217 (2) Selling, general and administrative expenses 178 (10) 168 168 (11) 157 165 (11) 154 (3) Restructuring and impairment costs 31 (31) - 113 (113) - 15 (15) - (4) Equity income (loss) 83 - 83 62 1 63 64 2 66 Earnings (loss) before interest and income taxes (EBIT) $ 54 $ 51 $ 105 $ (22) $ 139 $ 117 $ 95 $ 34 $ 129 Ebit margin: 1.30% 2.53% * 2.77% 2.25% 3.06% Ebit margin excluding Equity Income: * 0.53% * 1.28% 0.73% 1.49% * Measure not meaningful Memo accounts: Depreciation 65 72 68 Stock based compensation costs 6 2 8 Adjusted EBITDA $ 176 $ 191 $ 205 Adjusted EBITDA margin: 4.23% 4.52% 4.86% Adjusted EBITDA margin excluding Equity Income: 2.24% 3.03% 3.29% Three months ended December 31 Three months ended March 31 Three months ended June 30 2018 2019 2019 Purchase accounting amortization $ - $ 1 $ 2 Restructuring related charges 9 11 3 Futuris integration 1 2 1 1 Cost of sales adjustment $ 10 $ 14 $ 6 Purchase accounting amortization $ 10 $ 9 $ 9 Restructuring related charges - 1 - Transaction costs - 1 2 2 Selling, general and administrative adjustment $ 10 $ 11 $ 11 Restructuring charges $ 25 $ 47 $ 15 Long-lived asset impairment - SS&M - 66 - Held for sale adjustments 6 - - 3 Restructuring and impairment adjustment $ 31 $ 113 $ 15 Purchase accounting ammortization $ - $ - $ - Restructuring related charges - 1 2 Tax adjustments at YFAI - - - 4 Equity income adjustment $ - $ 1 $ 2 Barclays Global Automotive Conference – November 2019 29
Segment Performance Q1 2018 Q1 2019 (in $ millions) Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,786 $ 1,853 $ 648 $ (83) $ 4,204 $ 1,935 $ 1,640 $ 650 $ (67) $ 4,158 Adjusted EBITDA 35 82 176 (27) 266 43 2 154 (23) 176 Adjusted EBITDA margin 2.0% 4.4% 27.2% N/A 6.3% 2.2% 0.1% 23.7% N/A 4.2% Adjusted Equity Income 1 3 105 - 109 1 2 80 - 83 Depreciation 34 48 11 3 96 24 29 12 - 65 Capex 62 80 1 - 143 48 84 12 - 144 Q2 2018 Q2 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,941 $ 2,056 $ 690 $ (91) $ 4,596 $ 1,915 $ 1,778 $ 599 $ (64) $ 4,228 Adjusted EBITDA 98 130 157 (23) 362 34 59 123 (25) 191 Adjusted EBITDA margin 5.0% 6.3% 22.8% N/A 7.9% 1.8% 3.3% 20.5% N/A 4.5% Adjusted Equity Income 2 3 88 - 93 - 3 60 - 63 Depreciation 36 51 11 3 101 27 34 11 - 72 Capex 42 67 14 - 123 52 46 10 - 108 Q3 2018 Q3 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,946 $ 1,945 $ 672 $ (69) $ 4,494 $ 2,010 $ 1,752 $ 530 $ (73) $ 4,219 Adjusted EBITDA 99 97 146 (24) 318 69 53 110 (27) 205 Adjusted EBITDA margin 5.1% 5.0% 21.7% N/A 7.1% 3.4% 3.0% 20.8% N/A 4.9% Adjusted Equity Income 6 4 84 - 94 1 4 61 - 66 Depreciation 35 52 12 4 103 27 31 10 - 68 Capex 60 69 9 - 138 39 51 8 - 98 Q4 2018 Q4 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,991 $ 1,582 $ 649 $ (77) $ 4,145 $ 1,925 $ 1,505 $ 558 $ (67) $ 3,921 Adjusted EBITDA 70 55 146 (21) 250 64 47 126 (22) 215 Adjusted EBITDA margin 3.5% 3.5% 22.5% N/A 6.0% 3.3% 3.1% 22.6% N/A 5.5% Adjusted Equity Income 1 2 86 - 89 1 4 69 - 74 Depreciation 36 53 11 - 100 31 32 10 - 73 Capex 69 51 12 - 132 51 56 11 - 118 Full Year FY18 Full Year FY19 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 7,664 $ 7,436 $ 2,659 $ (320) $ 17,439 $ 7,785 $ 6,675 $ 2,337 $ (271) $ 16,526 Adjusted EBITDA 302 364 625 (95) 1,196 210 161 513 (97) 787 Adjusted EBITDA margin 3.9% 4.9% 23.5% N/A 6.9% 2.7% 2.4% 22.0% N/A 4.8% Adjusted Equity Income 10 12 363 - 385 3 13 270 - 286 Depreciation 141 204 45 10 400 109 126 43 - 278 Capex 233 267 36 - 536 190 237 41 - 468 30 Barclays Global Automotive Conference – November 2019Segment Performance Q1 2018 Q1 2019 (in $ millions) Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,786 $ 1,853 $ 648 $ (83) $ 4,204 $ 1,935 $ 1,640 $ 650 $ (67) $ 4,158 Adjusted EBITDA 35 82 176 (27) 266 43 2 154 (23) 176 Adjusted EBITDA margin 2.0% 4.4% 27.2% N/A 6.3% 2.2% 0.1% 23.7% N/A 4.2% Adjusted Equity Income 1 3 105 - 109 1 2 80 - 83 Depreciation 34 48 11 3 96 24 29 12 - 65 Capex 62 80 1 - 143 48 84 12 - 144 Q2 2018 Q2 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,941 $ 2,056 $ 690 $ (91) $ 4,596 $ 1,915 $ 1,778 $ 599 $ (64) $ 4,228 Adjusted EBITDA 98 130 157 (23) 362 34 59 123 (25) 191 Adjusted EBITDA margin 5.0% 6.3% 22.8% N/A 7.9% 1.8% 3.3% 20.5% N/A 4.5% Adjusted Equity Income 2 3 88 - 93 - 3 60 - 63 Depreciation 36 51 11 3 101 27 34 11 - 72 Capex 42 67 14 - 123 52 46 10 - 108 Q3 2018 Q3 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,946 $ 1,945 $ 672 $ (69) $ 4,494 $ 2,010 $ 1,752 $ 530 $ (73) $ 4,219 Adjusted EBITDA 99 97 146 (24) 318 69 53 110 (27) 205 Adjusted EBITDA margin 5.1% 5.0% 21.7% N/A 7.1% 3.4% 3.0% 20.8% N/A 4.9% Adjusted Equity Income 6 4 84 - 94 1 4 61 - 66 Depreciation 35 52 12 4 103 27 31 10 - 68 Capex 60 69 9 - 138 39 51 8 - 98 Q4 2018 Q4 2019 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 1,991 $ 1,582 $ 649 $ (77) $ 4,145 $ 1,925 $ 1,505 $ 558 $ (67) $ 3,921 Adjusted EBITDA 70 55 146 (21) 250 64 47 126 (22) 215 Adjusted EBITDA margin 3.5% 3.5% 22.5% N/A 6.0% 3.3% 3.1% 22.6% N/A 5.5% Adjusted Equity Income 1 2 86 - 89 1 4 69 - 74 Depreciation 36 53 11 - 100 31 32 10 - 73 Capex 69 51 12 - 132 51 56 11 - 118 Full Year FY18 Full Year FY19 Corporate / Corporate / Americas EMEA Asia Consolidated Americas EMEA Asia Consolidated Recon Items Recon Items Net sales $ 7,664 $ 7,436 $ 2,659 $ (320) $ 17,439 $ 7,785 $ 6,675 $ 2,337 $ (271) $ 16,526 Adjusted EBITDA 302 364 625 (95) 1,196 210 161 513 (97) 787 Adjusted EBITDA margin 3.9% 4.9% 23.5% N/A 6.9% 2.7% 2.4% 22.0% N/A 4.8% Adjusted Equity Income 10 12 363 - 385 3 13 270 - 286 Depreciation 141 204 45 10 400 109 126 43 - 278 Capex 233 267 36 - 536 190 237 41 - 468 30 Barclays Global Automotive Conference – November 2019
Supplementary - Seat Structures & Mechanisms (SS&M) progression Memo: Seat Structures & Mechanisms Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Net sales $ 718 $ 797 $ 783 $ 705 $ 3,003 Adjusted EBITDA (82) (34) (18) (34) (168) Adjusted EBITDA margin -11.4% -4.3% -2.3% -4.8% -5.6% Adjusted Equity Income 12 9 8 15 44 Depreciation 41 45 46 47 179 Capex 71 65 63 56 255 Q1 2019 Q2 2019* Q3 2019* Q4 2019* FY 2019* Net sales $ 727 $ 770 $ 768 $ 706 $ 2,971 Adjusted EBITDA (72) (51) (38) (21) (182) Adjusted EBITDA margin -9.9% -6.6% -4.9% -3.0% -6.1% Adjusted Equity Income 9 9 10 11 39 Depreciation 12 14 12 14 52 Capex 71 46 54 51 222 * Note: Beginning Q2 2019 reportable segments realigned to Americas, EMEA, Asia. Performance of SS&M business shown for illustrative purposes. Adj EBITDA beginning Q2 FY19 assumes a constant corporate allocation with prior year period. Barclays Global Automotive Conference – November 2019 31Supplementary - Seat Structures & Mechanisms (SS&M) progression Memo: Seat Structures & Mechanisms Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Net sales $ 718 $ 797 $ 783 $ 705 $ 3,003 Adjusted EBITDA (82) (34) (18) (34) (168) Adjusted EBITDA margin -11.4% -4.3% -2.3% -4.8% -5.6% Adjusted Equity Income 12 9 8 15 44 Depreciation 41 45 46 47 179 Capex 71 65 63 56 255 Q1 2019 Q2 2019* Q3 2019* Q4 2019* FY 2019* Net sales $ 727 $ 770 $ 768 $ 706 $ 2,971 Adjusted EBITDA (72) (51) (38) (21) (182) Adjusted EBITDA margin -9.9% -6.6% -4.9% -3.0% -6.1% Adjusted Equity Income 9 9 10 11 39 Depreciation 12 14 12 14 52 Capex 71 46 54 51 222 * Note: Beginning Q2 2019 reportable segments realigned to Americas, EMEA, Asia. Performance of SS&M business shown for illustrative purposes. Adj EBITDA beginning Q2 FY19 assumes a constant corporate allocation with prior year period. Barclays Global Automotive Conference – November 2019 31