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Ray Scott, President and CEO Jason Cardew, Senior Vice President and CFOSecond Quarter 2024 Financial ResultsJuly 25, 2024
Ray Scott, President and CEO
Jason Cardew, Senior Vice President and CFOSecond Quarter 2024
Financial ResultsJuly 25, 2024Lear Proprietary: The information contained herein is the property of Lear Corporation.
Safe Harbor Statement
2Forward-Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding
anticipated financial results and liquidity. 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. The Company also may provide forward-looking statements in
oral statements or other written materials released to the public. All statements contained or incorporated in this presentation or in any other public statements that
address operating performance, events or developments that the Company expects or anticipates may occur in the future are forward-looking statements. Factors
that could cause actual results to differ materially from these forward-looking statements are discussed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2023, and its other Securities and Exchange Commission filings. Future operating results will be based on various factors, including actual
industry production volumes, supply chain disruptions, labor disruptions, commodity prices, changes in foreign exchange rates, the impact of restructuring actions
and the Company's success in implementing its operating strategy.
Information in this presentation relies on assumptions in the Company’s core sales backlog. The Company’s core sales backlog reflects anticipated net sales from
formally awarded new programs less lost and discontinued programs and excludes the impact of non-core products winding down in our E-Systems business. The
Company enters into contracts with its customers to provide production parts generally at the beginning of a vehicle’s life cycle. Typically, these contracts do not
provide for a specified quantity of production, and many of these contracts may be terminated by the Company’s customers at any time. Therefore, these contracts
do not represent firm orders. Further, the calculation of the core sales backlog does not reflect customer price reductions on existing or newly awarded programs.
The core sales backlog may be impacted by various assumptions embedded in the calculation, including vehicle production levels on new programs, foreign
exchange rates and the timing of major program launches.
The forward-looking statements in this presentation are made as of the date hereof, and the Company does not assume any obligation to update, amend or clarify
them to reflect events, new information or circumstances occurring after the date hereof.
Non-GAAP Financial Information
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