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Making every drive better™ 1First Quarter 2021 Financial Results May 7, 2021 Ray Scott, President and CEO Jason Cardew, Senior Vice President and CFO
Making every drive better™
Ray Scott, President and CEO
Jason Cardew, Senior Vice President and CFOLear Proprietary: The information contained herein is the property of Lear Corporation. Safe Harbor Statement
UT AutomotiveForward -Looking Statements
This presentation contains forward -looking statements within themeaning ofthePrivate Securities Litigation Reform Actof1995 ,including statements regarding
anticipated financial results and liquidity .The words “will,” “may,” “designed to,”“outlook,” “believes,” “should,” “anticipates,” “plans,” “expects,” “intends,” “estimates,”
“forecasts” andsimilar expressions identify certain ofthese forward -looking statements .TheCompany also may provide forward -looking statements inoralstatements or
other written materials released tothepublic .Allstatements contained orincorporated inthispresentation orinanyother public statements that address operating
performance, events ordevelopments thattheCompany expects oranticipates may occur inthefuture areforward -looking statements .Factors thatcould cause actual
results todiffer materially from these forward -looking statements arediscussed intheCompany’s Annual Report onForm 10-Kfortheyear ended December 31,2020 ,and
itsother Securities andExchange Commission filings .Future operating results willbebased onvarious factors, including theimpact ofCOVID -19onourbusiness andthe
global economy, actual industry production volumes, commodity prices, theimpact ofrestructuring actions and theCompany’s success inimplementing itsoperating
Information inthispresentation relies onassumptions intheCompany’s sales backlog .TheCompany’s sales backlog reflects anticipated netsales from formally awarded
new programs less lostanddiscontinued programs .The Company enters intocontracts with itscustomers toprovide production parts generally atthebeginning ofa
vehicle’s lifecycle .Typically, these contracts donotprovide foraspecified quantity ofproduction, andmany ofthese contracts may beterminated bytheCompany’s
customers atanytime.Therefore, these contracts donotrepresent firmorders .Further, thecalculation ofthesales backlog does notreflect customer price reductions on
existing ornewly awarded programs .Thesales backlog may beimpacted byvarious assumptions embedded inthecalculation, including vehicle production levels onnew
programs, foreign exchange rates andthetiming ofmajor program launches .
Theforward -looking statements inthispresentation aremade asofthedate hereof, andtheCompany does notassume anyobligation toupdate, amend orclarify them to
reflect events, new information orcircumstances occurring after thedate hereof .
Non-GAAP Financial Information
This presentation also contains non -GAAP financial information. For additional information regarding the Company’s use of non -GAAP financial information, as well as
reconciliations of non -GAAP financial measures to the most directly comparable financial measures calculated and presented in ac cordance with accounting principles
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