Lear — Oct 31, 2025 release

Third Quarter 2025 Highlights • Delivered revenue of $5.7 billion in the third quarter, an increase of 2%, compared to $5.6 billion in the third quarter of 2024 • Net income of $108 million and adjusted net income of $150 million, compared to $136 million and $163 million, respectively, in the third quarter of 2024 • Core operating earnings of $241 million, compared to $257 million in the third quarter of 2024 • Earnings per share of $2.02 and adjusted earnings per share of $2.79, compared to $2.41 and $2.89, respectively, in the third quarter of 2024 • Net cash provided by operating activities of $444 million and free cash flow of $307 million, compared to $183 million and $51 million, respectively, in the third quarter of 2024 • Cash and cash equivalents of $1.0 billion and total liquidity of $3.0 billion at quarter end • Delivered positive operating performance in both segments, generating ≈50 basis points in Seating and ≈95 basis points in E-Systems • Generated the second-highest third-quarter operating cash flow in Lear’s history • Increased the midpoint of our full-year free cash flow outlook – on track to approach 80% conversion target • Repurchased $100 million of shares and paid $41 million in dividends • Launched the Lear fellowship program with Palantir, the first of its kind, to accelerate Lear’s digital and AI capabilities • Secured ≈$1.1 billion of E-Systems business awards year-to-date • Awarded several complete seat programs including with key Chinese domestic automakers BAIC, Dongfeng, Leapmotor, SAIC and Seres • Awarded four new ComfortFlexTM programs including a conquest award with Hyundai and awards with BMW, Leapmotor and Seres • Obtained operating control of a joint venture in China, which supports several Seres vehicles (more) • Awarded eight wire programs, including with key Chinese domestic automakers such as the Dongfeng Group • Achieved seven top-four finishes in the J.D. Power 2025 U.S. Seat Quality and Satisfaction StudySM — more than any other seating competitor for the third consecutive year • Customer recognition by Ferrari with their highly coveted Fearless Organization award and Nissan with the 2025 Global Quality Award in Interior, Exterior, and Climate • Released 2024 Sustainability Report, highlighting progress on IDEA by Lear, environmental stewardship, social res