Lear Half-Year Report 2023

Second Quarter 2023 Highlights

• Sales increased 18% to a record $6.0 billion, compared to $5.1 billion in the second quarter of 2022
• Sales outperformed global industry production, driven by growth over market in E-Systems of 11 percentage points
• Net income of $169 million and adjusted net income of $198 million, compared to $69 million and $107 million, respectively, in the second quarter of 2022
• Core operating earnings increased 61% to $302 million, compared to $187 million in the second quarter of 2022
• Earnings per share of $2.84 and adjusted earnings per share of $3.33, compared to $1.14 and $1.79, respectively, in the second quarter of 2022
• Net cash provided by operating activities of $311 million and free cash flow of $159 million, compared to $11 million and $(161) million, respectively, in the second quarter of 2022