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2017 Q4 and Full Year Results February 21, 2018 Driven to make a difference 1

Earnings full year q4 2017 FINAL 21feb2018...Delphi(Technologies( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016 Net#income#attributableto#Delphi#Technologies $103 $48 $78 $56 $78

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Page 1: Earnings full year q4 2017 FINAL 21feb2018...Delphi(Technologies( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016 Net#income#attributableto#Delphi#Technologies $103 $48 $78 $56 $78

2017%Q4%and%Full%Year%ResultsFebruary%21,%2018

Driven'to'make'a'difference

1

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Forward'looking-statements

This%presentation,%as%well%as%other%statements%made%by%Delphi%Technologies%PLC%(the%“Company”),%contain%forward?looking%statements%that%reflect,%when%made,%the%Company’s%current%views%with%respect%to%current%events,%certain%investments%and%acquisitions%and%financial%performance.%Such%forward?looking%statements%are%subject%to%many%risks,%uncertainties%and%factors%relating%to%the%Company’s%operations%and%business%environment,%which%may%cause%the%actual%results%of%the%Company%to%be%materially%different%from%any%future%results.

All%statements%that%address%future%operating,%financial%or%business%performance%or%the%Company’s%strategies%or%expectations%are%forward?looking%statements.%Factors%that%could%cause%actual%results%to%differ%materially%from%these%forward?looking%statements%are%discussed%under%the%captions%“Risk%Factors”%and%“Management’s%Discussion%and%Analysis%of%Financial%Condition%and%Results%of%Operations”%in%the%Company’s%filings%with%the%Securities%and%Exchange%Commission.%New%risks%and%uncertainties%arise%from%time%to%time,%and%it%is%impossible%for%us%to%predict%these%events%or%how%they%may%affect%the%Company. It%should%be%remembered%that%the%price%of%the%ordinary%shares%and%any%income%from%them%can%go%down%as%well%as%up.%

The%Company%disclaims%any%intention%or%obligation%to%update%or%revise%any%forward?looking%statements,%whether%as%a%result%of%new%information,%future%events%and/or%otherwise,%except%as%may%be%required%by%law.%

2

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2017:&A&milestone&year

Revenue

$4.85&b(up$8.5%)

Operating&income1

$641&m(13.2%$up$180$bps$$)

Operating&cash&flow

$389&m

Delivered&on&commitments&to&stakeholders

Strengthened&business&while&establishing&new&company

Booked&record&$7.1&b&(up$10%$YOY)

Improved&cash&balance&&&liquidity&profile

Executed&spin&ahead&of&schedule

Accelerated&path&to&electrification

Enhanced&leading&cost&structure

1 Adjusted)for)restructuring)and)other)special)items;)see)appendix)for)detail)and)reconciliation)to)US)GAAP2 Results)reflect)spin>related)adjustments)for)calendar)year)2017;)see)appendix)for)detail3

2

2

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Spin%update

Operational! Seamless'separation! Closely'managing'roll1off'of'TSAs! Investing'in'standalone'functions

Team! Leadership'team'driving'performance! Fully'established'Board'of'Directors

Fully%operational%and%focused%on%meeting%our%commitments

4

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Record'bookings

$4.7

$6.1$6.7 $7.1

2014 2015 2016 2017

Adjusted(bookings1 ($(billions)

Disciplined'commercial'strategy'driving'long?term'value

Booked'program'lifetime'value Key'technologies

1 Bookings(represent(lifetime(gross(program(revenues(awarded,(based(upon(expected(volumes(and(pricing(adjusted(for(FX(and(commodities2 Bookings(for(Powertrain(Segment((OEM)(only

Power'Electronics

Commercial'Vehicle'Diesel

Gasoline'Direct'Injection

Electronics'&'Software

15%CAGR 2

5

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Our$vision

Driven'to'make'a'differenceOur$technologists$are$pioneers$in$propulsion$systems,$working$with$

customers$all$over$the$world$to$make$combustion,$hybrid$and$electric$

vehicles$more$efficient$and$better$to$drive.

A$sustainable$future$starts$today

6

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Strategy(overview

7

Portfolio

Software(&(Controls(

Value(creation

Balanced(growthCash(flow(generationCapital(allocation

Portfolio(leadership(in(vehicle(propulsion(systems(

Disciplined(execution

Launch(performanceFootprint(optimizationOperational(excellence

Technology(&(Innovation

Power(electronicsFuel(injectionSystem(solutions

Internal(combustion(engine Electrification

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Technology*and*innovation

Commercial*vehicleUltra&high*pressure&common&rail&diesel

Solving*our*customers’*propulsion*challenges

Gasoline*direct*injectionFirst*to*market&350*bar&GDi&solutionPower*electronics

Combined&Inverter&DC/DC&converter&(CIDD)&

8

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Disciplined*execution

Operational*Excellence! Leverage'Enterprise'Operating'System'(EOS)'

! Focus'on'cost'optimization

Launch! ~90'new'programs'launched'in'2017! 120+'launches'planned'for'2018

Footprint*optimization! LightFduty'diesel'rotation! CV'diesel'capacity'transfer'to'China! Electrification'capacity'China'expansion

Strong*foundation*of*operational*excellence

9

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Value&creation

Disciplined&approach&driving&long4term&shareholder&value

Capital&allocation! Investing)in)high+growth,)differentiated)technologies

! Value+enhancing)M&A

! Announced)first)dividend)payable)in)Q1

Balanced&growth! Growth)aligned)to)markets

! Balanced)customer)mix

! Flexible)product)portfolio

Cash&flow&generation! Strong)operating)performance

! Rolling)off)spin+off+related)inefficiencies

! Normalizing)capex)and)restructuring

10

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Summary

Successful,spin,ahead,of,schedule

Record,revenue,and,bookings

Regulatory,and,consumer,tailwinds

Well,positioned,for,long;term,value,creation

Driven'to'make'a'difference

11

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FinancialReview

12

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2017%vs%2016

13

Operating%income2Operating%margin%%2

$4,8498.5%

$4,8548.5%

$63713.1%

$64113.2%

$389 #

RevenueAdjusted%growth%%1

Operating%cash%flow

$4,486G

$51211.4%

$372

$4,7738.5%

$56911.9%

#

2017%(reported) 2016

$%millions

2017%(pro%forma3)

Full%year%comments

Strong%yearGonGyear%growth%over%market%Market*growth*of*~2%

180%bps%of*operating*margin*expansion! Strong*volume*flow#through! Benefits*of*prior*restructuring

Pro#forma*impact*on*FY*2017*adjusted:! Revenue:*$81*million

! Operating*income:*$72*million

Operating*cash*flow*in*line*with*expectationsYear*end*total*cash%balance%of%$338%m

1.*At*constant*foreign*exchange*rates,*and*excludes*impact*of*certain*aftermarket*revenue*retained*by*Former*Parent2.*Adjusted*for*restructuring*and*other*special*itemsP*see*appendix*for*detail*and*reconciliation*to*US*GAAP3.*See*appendix*for*reconciliation*

2017%(adjusted3)

Strong*finish*while*executing*spin*ahead*of*schedule

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S. America

N. AmericaEurope

China

Q4#2017#revenue#growth

14

1.$At$constant$foreign$exchange$rates,$and$excludes$impact$of$certain$aftermarket$revenue$retained$by$Former$Parent

3% Adj

6%$GoM5% Adj

(2)%$GoM 22% Adj

22%$GoM

16% Adj

1%$GoM

9%1

Revenue$$millions

Regional#growthAdjusted1 yearHonHyear$growth

Q4#2016

$1,146

Price

($4)

Volume

$96

FX

$51

Q4#2017#(reported)

SpinFrelatedimpact

$5

Q4#2017#(adjusted)

$1,294

$1,289

Growth$across$the$portfolio$and$in$all$regions,$with$strong$performance$in$China

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Q4#2017#operating#income#growth

15

Operating#Income1

1.$Adjusted$for$restructuring$and$other$special$items8$see$appendix$for$detail$and$reconciliation$to$US$GAAP

$$millions

Q4#2017Operating#Income#

(adjusted)

Q4#2017###Operating#Income#

(reported)

$164

$4

Spin@related#impact

D&A

($5)

FX/CommPerformance/GrowthPrice

($4)

Q4#2016#Operating#Income

$133

11.6%

$27

$13

12.7%

$168

13.0%

140bps

26%$yearHonHyear$growth$driven$by$strong$operating$performance

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Reportable*segmentsPowertrain*Systems

Helping(OEMs(solve(vehicle(propulsion(challenges

Aftermarket

Ensuring(the(driving(experience(is(maintained(throughout(the(life(of(the(vehicle

Portfolio! Fueling,)electronics,)engine)management)&)select)

maintenance)products)and)services! Diagnostics)&)test)equipment! OEM)service)and)independent)aftermarket)channels

Portfolio! Internal)Combustion)Engine)(ICE))systems)&)components! Software)and)control)electronics! Power)electronics)for)path)to)electrification! Passenger)car)and)commercial)vehicle)applications

16

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Powertrain*segment*highlights

17

Revenue

1.$At$constant$foreign$exchange$rates,$and$excludes$impact$of$certain$aftermarket$revenue$retained$by$Former$Parent2.$Adjusted$for$restructuring$and$other$special$itemsA$see$appendix$for$detail$and$reconciliation$to$US$GAAP3.$Includes$30$basis$points$of$operating$margin$benefit$from$intercompany$transfer$pricing$change$with$the$Aftermarket$segment$for$Q4$2017$and$FY$2017$$

$$millions

Q4*2016

$975

FY*2016

$3,837

FY*2017*

(adjusted)

$4,222

Q4$2016

11.0%

$107

Operating*Income2

$$millions

Q4*2017*

(adjusted)

13.1%3

$146

FY*2016

10.9%

$418

FY*2017**

(adjusted)

13.4%3

$565

Q4*2017*

(adjusted)

$1,115

10%1

250***bps

210**bps

10%1

Strong$revenue$growth$in$key$areas$of$the$portfolio$with$record$bookings

Performance*highlights

Q4*2017:*

Strong$yearRonRyear$revenue$growth$in$key$areas$of$the$portfolio

! ~40%*growth*for*GDi*and*CV

! ~20%*growth*for*Power*

Electronics

FY*2017:*

Margin$expansion$driven$by:$

! strong$material$and$manufacturing$performance

! benefits$of$prior$restructuring

Positioned$for$longOterm*growth

! Strong$bookings$performance

! Innovation$&$operational$excellence

! Leverage$cost$structure

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Aftermarket)segment)results

18

Revenue$$millions

Q4)2016

$238

FY)2016

$924

FY)2017)(adjusted))

$952

Operating)income2$$millions

Q4)2017)(adjusted)

$255

(120))bps

4%1

6%1

1.$At$constant$foreign$exchange$rates,$and$excludes$impact$of$certain$aftermarket$revenue$retained$by$Former$Parent2.$Adjusted$for$restructuring$and$other$special$itemsF$see$appendix$for$detail$and$reconciliation$to$US$GAAP3.$Adjusted$to$remove$impact$of$intercompany$transfer$pricing$change$with$Powertrain$segment$for$Q4$2017$and$FY$2017$

Strong$growth$in$2017,$focus$on$driving$margin$improvement$in$2018

Performance)highlights

Q4)2017:)

Revenue$growth$driven$by$OES)sales,$and$to$a$lesser$extent,$growth$in$IAM$sales.

FY)2017:)

6%$revenue$growth,$margin$impacted$by$change$in$transfer$pricing,$and$to$a$lesser$extent,$product$mix

Focus$in$2018$on$higher)margin)revenue$opportunities11.0%

$268.6%

$22

$3

Q4)2016 Q4)2017(adjusted)

10.2%

$948.0%

$76

$13

FY)2016 FY)2017(adjusted)

(90))bps

11.0% 9.8%3

10.2%9.3%3

impact$of$transfer$price$change

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2018%outlook

Revenue

Adjusted%growth1

Operating%income2

Operating%income%margin%

Earnings%per%share3

Cash%flow%from%operations

Capital%expenditures%(incl.%separation%Capex)

Adjusted%effective%tax%rate

2017%Pro%forma4 2018%Guidance

$4,773

8.5%

11.9%

$4,900%N $5,100

12.2%%N 12.4%

$4.50%N $4.80

$440%N $480

$280%N $300

16%%N 17%

Comments

Revenue%growth%assumes:! Market'up'~1%

! ~200'bps'headwind'from'LDD'decline

! Expected'lower'y/y'growth'in'

Aftermarket

! Robust'growth'in'CV'and'GDi

! 50%+'growth'in'Power'Electronics

Other%guidance%metrics! OneKtime'separation'costs'$75N$80M! Restructuring'charges'$95N$100M! Diluted'share'count'~89M! $/EUR'exchange'rate'1.15

1.'At'constant'foreign'exchange'rates,'and'excludes'impact'of'certain'aftermarket'revenue'retained'by'Former'Parent

2.'Adjusted'for'restructuring'and'other'special'itemsS'see'appendix'for'detail'and'reconciliation'to'US'GAAP

3.'Adjusted'for'restructuring'and'other'special'items

4.'See'appendix'for'reconciliation'

$"millions,"except"per"share"amounts

2%%N 6%

19

$569

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Returning)to)pre,spin)operating)margin)by)2020

20

Operating)Income)Margin1

1.%Adjusted%for%restructuring%and%other%special%items9%see%appendix%for%detail%and%reconciliation%to%US%GAAP2.%See%appendix%for%reconciliation

$%millions

2017)Actual))))))))))))))(pro)forma)2

11.9%

2018E)Outlook

12.2%), 12.4%

2020E

~13.3%

@ Roll%off%spin@related%inefficiencies@ Higher%penetration%of%advanced%technologies@ Improved%volume%flow@through

@ Continued%benefits%of%prior%restructuring@ Material%and%manufacturing%improvements@ Incremental%R&D%to%drive%long@term%growth

@ Completed%spin%in%December%@ Strong%revenue%growth%and%operating%performance

20182020

2017

30@50bps

~$700M)OCF

140)bps

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Q&A

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Appendix

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Q4#2017#vs#Q4#2016

23

1.%At%constant%foreign%exchange%rates,%and%excludes%impact%of%certain%aftermarket%revenue%retained%by%Former%Parent2.%Adjusted%for%restructuring%and%other%special%itemsA%see%appendix%for%detail%and%reconciliation%to%US%GAAP3.%See%appendix%for%reconciliation%

RevenueAdjusted#growth1

$1,1466.6%

Q4#2017#reported

Q4#2017#adjusted3 Q4#2016

CommentsMarket%growth%~1%Growth in%all#regions,%especially%ChinaStrong%growth%in%CV,#GDi#and#PE

Strong%operational#performance

Cash%flow%in%line%with%expectations$95 LOperating#cash#flow $68

Operating#Income2Operating#margin#%2

$13311.6%

$1,2898.7%

$16412.7%

$1,2948.7%

$16813.0%

$#millions#

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Pro$forma$financial$schedules

Delphi$Technologies$5 Revenue Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Revenue&Reported1 $1,168& $1,187& $1,205& $1,289& $4,849&Spin9Related&Adjustments2 N/A N/A N/A $5 $5Historical&Comparable3 $1,168& $1,187& $1,205& $1,294& $4,854&Pro9forma&Adjustments4 ($20) ($21) ($20) ($20) ($81)Revenue$Pro5forma $1,148$ $1,166$ $1,185$ $1,274$ $4,773$

Delphi$Technologies$5 Adjusted Operating$Income$ Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Adjusted Operating&Income1 $162& $164& $147& $164& $637&%"to"sales 13.9% 13.8% 12.2% 12.7% 13.1%

Spin9Related&Adjustments2 N/A N/A N/A $4 $4&Historical&Comparable3 $162& $164& $147& $168 $641&%"to"sales 13.9% 13.8% 12.2% 13.0% 13.2%

Pro9forma&Adjustments4 N/A& N/A& N/A& N/A& ($72)Adjusted$Operating$Income$Pro5forma N/A$ N/A$ N/A$ N/A$ $569$%"to"sales N/A N/A N/A N/A 11.9%

($&millions)

¹ Results for periods prior to December 4, 2017 prepared on a stand9alone combined basis derived from the Former Parent’s accounting records and results for periods subsequent to December 4, 2017 are presented on a consolidated basis.² Adjustments to present results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017. Adjustments include: (1) impact of the original equipment services business that remained with the FormerParent, (2) incremental costs and inefficiencies associated with being a stand9alone publicly9traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement enteredwith our Former Parent in connection with the separation.³ Represents results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017.⁴ Adjustments to present results for the year ended December 31, 2017 on a comparable basis to expected future period results. Financial information for periods prior to December 4, 2017 was prepared on a stand9alone combined basis derived from the Former Parent’saccounting records and is not necessarily indicative of results that will be achieved as a stand9alone publicly9traded company. Adjustments include: (1) impact of the original equipment services business that remained with the Former Parent, (2) incremental costs andinefficiencies associated with being a stand9alone publicly9traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement entered with our Former Parent inconnection with the separation.

24

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Pro$forma$financial$schedules

Powertrain$Segment$5 Revenue Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Revenue&Reported1 $1,023& $1,035& $1,049& $1,115& $4,222&Spin7Related&Adjustments2 N/A N/A N/A N/A N/AHistorical&Comparable3 $1,023& $1,035& $1,049& $1,115& $4,222&Pro7forma&Adjustments4 N/A N/A N/A N/A N/ARevenue$Pro5forma $1,023$ $1,035$ $1,049$ $1,115$ $4,222$

Powertrain$Segment$– Adjusted Operating$Income Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Adjusted&Operating&Income1 $150& $141& $128& $143& $562&%"to"sales 14.7% 13.6% 12.2% 12.8% 13.3%

Historical&Comparable3 N/A N/A N/A $3 $3&Powertrain&Segment&Comparable3 $150& $141& $128& $146 $565&%"to"sales 14.7% 13.6% 12.2% 13.1% 13.4%

Pro7forma&Adjustments4 N/A& N/A& N/A& N/A& ($53)Adjusted$Operating$Income$Pro5forma N/A$ N/A$ N/A$ N/A$ $512$%"to"sales N/A N/A N/A N/A 12.1%

($&millions)

¹ Results for periods prior to December 4, 2017 prepared on a stand7alone combined basis derived from the Former Parent’s accounting records and results for periods subsequent to December 4, 2017 are presented on a consolidated basis.² Adjustments to present results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017. Adjustments include: (1) impact of the original equipment services business that remained with the FormerParent, (2) incremental costs and inefficiencies associated with being a stand7alone publicly7traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement enteredwith our Former Parent in connection with the separation.³ Represents results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017.⁴ Adjustments to present results for the year ended December 31, 2017 on a comparable basis to expected future period results. Financial information for periods prior to December 4, 2017 was prepared on a stand7alone combined basis derived from the Former Parent’saccounting records and is not necessarily indicative of results that will be achieved as a stand7alone publicly7traded company. Adjustments include: (1) impact of the original equipment services business that remained with the Former Parent, (2) incremental costs andinefficiencies associated with being a stand7alone publicly7traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement entered with our Former Parent inconnection with the separation.

25

Page 26: Earnings full year q4 2017 FINAL 21feb2018...Delphi(Technologies( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016 Net#income#attributableto#Delphi#Technologies $103 $48 $78 $56 $78

Pro$forma$financial$schedules

Aftermarket$Segment$6 Revenue Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Revenue&Reported1 $222& $232 $243& $250& $947&

Spin7Related&Adjustments2 N/A N/A N/A $5 $5

Historical&Comparable3 $222& $232& $243& $255& $952&

Pro7forma&Adjustments4 ($20) ($21) ($20) ($20) ($81)

Revenue$Pro6forma $202 $212$ $224$ $235$ $871$

Aftermarket$Segment$– Adjusted$Operating$Income Q1$2017 Q2$2017 Q3$2017 Q4$2017 2017Adjusted&Operating&Income1 $12& $23& $19& $21& $75&

%"to"sales 5.4% 9.9% 7.8% 8.4% 7.9%

Spin7Related&Adjustments2 N/A N/A N/A $1 $1&

Historical&Comparable3 $12& $23& $19& $22& $76&

%"to"sales 5.4% 9.9% 7.8% 8.6% 8.0%

Pro7forma&Adjustments4 N/A& N/A& N/A& N/A& ($19)

Adjusted$Operating$Income$Pro6forma N/A$ N/A$ N/A$ N/A$ $57$%"to"sales N/A N/A N/A N/A 6.5%

($&millions)

¹ Results for periods prior to December 4, 2017 prepared on a stand7alone combined basis derived from the Former Parent’s accounting records and results for periods subsequent to December 4, 2017 are presented on a consolidated basis.

² Adjustments to present results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017. Adjustments include: (1) impact of the original equipment services business that remained with the FormerParent, (2) incremental costs and inefficiencies associated with being a stand7alone publicly7traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement enteredwith our Former Parent in connection with the separation.

³ Represents results for the year ended December 31, 2017 on a comparable basis to historical periods, as though the separation did not occur during 2017.⁴ Adjustments to present results for the year ended December 31, 2017 on a comparable basis to expected future period results. Financial information for periods prior to December 4, 2017 was prepared on a stand7alone combined basis derived from the Former Parent’s

accounting records and is not necessarily indicative of results that will be achieved as a stand7alone publicly7traded company. Adjustments include: (1) impact of the original equipment services business that remained with the Former Parent, (2) incremental costs andinefficiencies associated with being a stand7alone publicly7traded company for periods subsequent to December 4, 2017, and (3) costs associated with the Transition Services Agreement and Contract Manufacturing Services Agreement entered with our Former Parent inconnection with the separation.

26

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Non$GAAP(Reconciliation:(Adj(Operating(Income($#millions)

Adjusted Operating Income is presented as a supplemental measure of the Company's financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciledto the corresponding U.S. GAAP measure, provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and which mayobscure underlying business results and trends. Our management utilizes Adjusted Operating Income in its financial decision making process, to evaluate performance of the Company and for internal reporting, planning and forecastingpurposes. Management also utilizes Adjusted Operating Income as the key performance measure of segment income or loss and for planning and forecasting purposes to allocate resources to our segments, as management also believes thismeasure is most reflective of the operational profitability or loss of our operating segments. Adjusted Operating Income is defined as net income before interest expense, other income (expense), net, income tax expense, equity income (loss),net of tax, restructuring, separation costs, asset impairments and other acquisition and portfolio project costs. Not all companies use identical calculations of Adjusted Operating Income, therefore this presentation may not be comparable toother similarly titled measures of other companies. The Company's 2018 guidance was determined using a consistent manner and methodology.

27

Delphi(Technologies( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016Net#income#attributable to#Delphi#Technologies $103 $48 $78 $56 $78 $285 $236

Net#income#attributable#to#noncontrolling interest 8 8 9 9 10 34 32

Net income $111 $56( $87( $65( $88 $319 $268Equity#(income),#net#of#tax (1) 1 (2) (3) Z (5) Z

Income tax#expense 31 22 26 27 23 106 50

Other expense,#net 6 Z 1 4 1 11 1

Interest expense 1# Z 1 13 Z 15 1

Operating(income $148 $79( $113( $106( $112( $446 $320Restructuring 10 66 3 19 14 98 161

Separation#costs Z 15 31 35 Z 81 Z

Asset#impairments 4# 4# Z 4 7# 12 29

Other#acquisition and#portfolio#project#costs $ $ $ $ $ $ 2

Adjusted(operating(income $162 $164( $147( $164( $133( $637 $512

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Non$GAAP(Reconciliation:(Adj(Operating(Income($#millions)

28

Aftermarket Segment Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016Operating#income $6 $18 $16 $14# $22 $54 $81

Restructuring 6 2 (3) 1 3 6 10

Separation#costs > 3 6 6 > 15# >

Asset#impairments > > > > 1 > 1

Other#acquisition#and#portfolio#project#costs > > > > > > 2

Adjusted operating(income $12 $23( $19( $21( $26 $75( $94(

Powertrain(Segment( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016Operating#income $142# $61 $97 $92# $90 $392 $239

Restructuring 4 64 6 18 11 92 151

Separation#costs > 12 25 29 > 66# >

Asset#impairments 4# 4# > 4 6 12# 28#

Adjusted(operating(income $150 $141( $128( $143( $107 $562( $418(

Adjusted Operating Income is presented as a supplemental measure of the Company's financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciledto the corresponding U.S. GAAP measure, provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and which mayobscure underlying business results and trends. Our management utilizes Adjusted Operating Income in its financial decision making process, to evaluate performance of the Company and for internal reporting, planning and forecastingpurposes. Management also utilizes Adjusted Operating Income as the key performance measure of segment income or loss and for planning and forecasting purposes to allocate resources to our segments, as management also believes thismeasure is most reflective of the operational profitability or loss of our operating segments. Adjusted Operating Income is defined as net income before interest expense, other income (expense), net, income tax expense, equity income (loss),net of tax, restructuring, separation costs, asset impairments and other acquisition and portfolio project costs. Not all companies use identical calculations of Adjusted Operating Income, therefore this presentation may not be comparable toother similarly titled measures of other companies. The Company's 2018 guidance was determined using a consistent manner and methodology.

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Non$GAAP(Reconciliation:(Adj(Net(Income($#millions,#except#per#share#amounts)

1. Represents the income tax impacts of the adjustments made for restructuring and other special items by calculating the income tax impact of these items using the appropriate tax rate for the jurisdiction where the charges were incurred.

Adjusted Net Income and Adjusted Net Income Per Share, which are nonDGAAP measures, are presented as supplemental measures of the Company's financial performance which management believes are useful to investors in assessing theCompany’s ongoing financial performance that, when reconciled to the corresponding U.S. GAAP measure, provide improved comparability between periods through the exclusion of certain items that management believes are not indicative ofthe Company’s core operating performance and which may obscure underlying business results and trends. Management utilizes Adjusted Net Income and Adjusted Net Income Per Share in its financial decision making process, to evaluateperformance of the Company and for internal reporting, planning and forecasting purposes. Adjusted Net Income is defined as net income attributable to Delphi Technologies, restructuring and other special items, including the tax impactthereon. Adjusted Net Income Per Share is defined as Adjusted Net Income divided by the weighted average number of diluted shares outstanding for the period. Not all companies use identical calculations of Adjusted Net Income andAdjusted Net Income Per Share, therefore this presentation may not be comparable to other similarly titled measures of other companies. The Company's 2018 guidance was determined using a consistent manner and methodology.

29

Delphi(Technologies( Q1(2017 Q2(2017 Q3(2017 Q4(2017 Q4(2016 2017 2016Net#income#attributable to#Delphi#Technologies $103 $48 $78 $56 $78 $285 $236

Adjusting(items:Restructuring 10 66 3 19 14 98 161

Separation#costs D 15 31 35 D 81 D

Asset#impairments 4 4 D 4 7 12 29

Other#acquisition and#portfolio#project#costs D D D D D D 2

Tax#impact#of#adjusting#items1 (1) (13) (1) (4) (2) (19) (7)

Adjusted(net(income(attributable(to(Delphi(Technologies $116 $120 $111 $110( $97 $457 $421Weighted#average#number#of#diluted#shares#outstanding 88.61 88.61 88.61 88.79 88.61 88.66 88.61Diluted net#income#per#share#attributable#to#Delphi#Technologies $1.16 $0.54 $0.88 $0.63 $0.88 $3.21 $2.66

Adjusted(net(income(per(share $1.31 $1.35 $1.25 $1.24 $1.09 $5.15 $4.75

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