|                                          |        |                     |
|------------------------------------------|--------|---------------------|
| DELAWARE                                 |   | 38-3161171          |
| (State or other jurisdiction of          |   | (I.R.S. Employer    |
| incorporation or organization)           |   | Identification No.) |
|                                     |   |                |
| ONE DAUCH DRIVE, DETROIT, MICHIGAN       |   | 48211-1198          |
| (Address of principal executive offices) |   | (Zip Code)          |

|                                                            |        |                                           |
|------------------------------------------------------------|--------|-------------------------------------------|
| Title of Each Class                                        |   | Name of Each Exchange on Which Registered |
| COMMON STOCK, PAR VALUE $0.01 PER SHARE                    |   | NEW YORK STOCK EXCHANGE                   |
| PREFERRED SHARE PURCHASE RIGHTS, PAR VALUE $0.01 PER SHARE |   | NEW YORK STOCK EXCHANGE                   |

----

|              |         |                                                                                                                                                                                |             |
|--------------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|
|         |    |                                                                                                                                                                           | Page Number |
|         |    |                                                                                                                                                                           |        |
| Part I       | Item 1  | Business                                                                                                                                                                       | 1           |
|         | Item 1A | Risk Factors                                                                                                                                                                   | 11          |
|         | Item 1B | Unresolved Staff Comments                                                                                                                                                      | 15          |
|         | Item 2  | Properties                                                                                                                                                                     | 16          |
|         | Item 3  | Legal Proceedings                                                                                                                                                              | 17          |
|         | Item 4  | (Removed and Reserved)                                                                                                                                                         | 17          |
|         |    |                                                                                                                                                                           |        |
| Part II      | Item 5  | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities                                                                   | 17          |
|         | Item 6  | Selected Financial Data                                                                                                                                                        | 18          |
|         | Item 7  | Management's Discussion and Analysis of Financial Condition and Results of Operations                                                                                          | 19          |
|         | Item 7A | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                     | 35          |
|         | Item 8  | Financial Statements and Supplementary Data                                                                                                                                    | 36          |
|         | Item 9  | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                                                                                           | 81          |
|         | Item 9A | Controls and Procedures                                                                                                                                                        | 81          |
|         | Item 9B | Other Information                                                                                                                                                              | 81          |
|         |    |                                                                                                                                                                           |        |
| Part III     | Item 10 | Directors, Executive Officers and Corporate Governance                                                                                                                         | 82          |
|         | Item 11 | Executive Compensation                                                                                                                                                         | 82          |
|         | Item 12 | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                                                                                 | 82          |
|         | Item 13 | Certain Relationships and Related Transactions, and Director Independence                                                                                                      | 82          |
|         | Item 14 | Principal Accounting Fees and Services                                                                                                                                         | 82          |
|         |    |                                                                                                                                                                           |        |
| Part IV      | Item 15 | Exhibits and Financial Statement Schedules                                                                                                                                     | 83          |
|         |    |                                                                                                                                                                           |        |
| Exhibit 12   |    | Computation of Ratio of Earnings to Fixed Charges                                                                                                                              |        |
| Exhibit 21   |    | Subsidiaries of the Registrant                                                                                                                                                 |        |
| Exhibit 23   |    | Consent of Independent Registered Public Accounting Firm                                                                                                                       |        |
| Exhibit 31.1 |    | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act                                                                             |        |
| Exhibit 31.2 |    | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act                                                                             |        |
| Exhibit 32   |    | Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |        |

----

|        |
|--------|
| Part I |

|                                 |          |
|---------------------------------|----------|
| Item 1.     | Business |

|                             |                                 |
|-----------------------------|---------------------------------|
| (a)     | General Development of Business |

|                             |                                      |
|-----------------------------|--------------------------------------|
| (b)     | Financial Information About Segments |

|                             |                                   |
|-----------------------------|-----------------------------------|
| (c)     | Narrative Description of Business |

----

|                                                  |                         |        |        |        |      |        |     |   |
|--------------------------------------------------|-------------------------|--------|--------|--------|------|--------|-----|---|
|                                             | Year ended December 31, |
|                                             | 2010                    |   | 2009   |   | 2008 |
| Axles and driveshafts                            | 81                      | %      |   | 75     | %    |   | 79  | % |
| Drivetrain components, forged products and other | 19                      | %      |   | 25     | %    |   | 21  | % |
|      Total              | 100                     | %      |   | 100    | %    |   | 100 | % |

|                                |                                                                                                                                                                                                                                                                                                      |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | We have invested over $910 million in research and development since 1994, resulting in the development of products with industry leading technology for driveline and drivetrain systems and related components for light trucks, SUVs, passenger cars, crossover vehicles and commercial vehicles. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | We have accelerated the development and launch of products for passenger cars and crossover vehicles and the global light truck and commercial vehicle markets.  As of December 31, 2010, we had approximately $850 million of new business backlog launching from 2011 to 2013, of which approximately 70% relates to AWD and RWD applications for passenger cars, crossover vehicles and driveline applications for the commercial vehicle market. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | In 2010, we entered into a joint venture with Saab Automobile AB (Saab).  The new company, e-AAM Driveline Systems AB (e-AAM), will launch electric all-wheel-drive (eAWD) systems designed to improve fuel efficiency up to 30 percent, reduce CO2 emissions and provide all-wheel-drive capability.  e-AAM engineers and develops eAWD hybrid driveline systems to be commercialized for passenger cars and crossover vehicles that can be easily integrated into existing platforms, minimizing vehicle architecture changes.  This new system will be featured in the next generation of Saab vehicles beginning in 2012. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | AAM also won an industry-first order for its EcoTracTM disconnecting AWD technology.  AAM's EcoTracTM AWD system is a fuel-efficient and environmentally friendly driveline system that further enhances AAM's technology leadership position by providing OEMs the option of an all-wheel-drive system that disconnects when not needed to improve the fuel efficiency and reduce CO2 emissions compared to conventional AWD systems.  AAM's EcoTracTM AWD system will be featured on major global passenger car and crossover vehicle programs beginning in 2012.  The EcoTracTM brand includes an AWD fuel economy optimization system, eAWD systems and a full range of high-efficiency axles. |

|                                |                                                                                                                                                         |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | We have focused on generating profitable growth with new and existing global OEM customers, as well as commercial vehicle, off-road and emerging market |

----

|                                |                                                                                                                                                                                                                                                                                                                                                |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | As of December 31, 2010, over 50% of our $850 million of new business backlog launching from 2011 to 2013 is for customers other than GM.  In addition, we are quoting on approximately $950 million in new business opportunities to continue the diversification and expansion of our customer base, product portfolio and global footprint. |

|                                |                                                                                                                                                                                                                                                                                                                        |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Over the past few years, we have more than doubled our global installed capacity to support current and future opportunities.  Specific actions include expanding facilities in Mexico, Brazil and Poland, increasing our investment in our China joint venture and constructing new facilities in India and Thailand. |

|                                |                                                                                                                                                                                                                                                            |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | As of December 31, 2010, approximately 65% of our $850 million of new business backlog launching from 2011 to 2013 is for end use markets outside of North America and approximately 90% has been sourced to our manufacturing facilities outside the U.S. |

|                                |                                                                                                                                                                                                     |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Our focus on cost management has led to sustainable structural cost reductions in AAM's fixed cost structure and reduced our operating breakeven to a U.S. Seasonally Adjusted Annual Rate of sales |

|                                |                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | We successfully extended our stand alone UAW agreement that covers hourly associates at our Three Rivers Manufacturing Facility to ensure market competitiveness at AAM's largest U.S. facility through 2017.  We also successfully negotiated a collective bargaining agreement that covers our hourly associates at our Colfor Manufacturing subsidiary through 2014. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Outstanding long-term daily track records on quality, reliability, delivery and launch performance - We reduced our discrepant parts per million (“PPM”) performance, as measured by our largest customer, from 13,441 PPM in 1994 to approximately 4 PPM as of December 31, 2010.  We also have a strong track record of successfully supporting new product, process and facility launches. |

|                                |                                                                                                                                                                                                                                                                                         |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Demonstrated ability to achieve cost savings - We reduced fixed operating costs by more than 50% through our multi-year Restructuring, Resizing and Profit Recovery plan.  This has reduced our operating breakeven to a U.S. SAAR equivalent of approximately 10 million vehicle units |

----

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Cost competitive, operationally flexible global manufacturing, engineering and sourcing footprint - We have re-aligned our global installed capacity to increase our presence in global growth markets, support global product development initiatives and establish regional cost competitiveness.  This includes having manufacturing facilities in the U.S., Mexico, Brazil, China, India, Scotland, Thailand and Poland. |

|                                |                                                                                                                                                                                                                                                                                                                                                                      |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | In 2010, we idled our Salem Manufacturing Facility (part of our Colfor Manufacturing operations) and consolidated its operations within our two remaining facilities in Ohio.  We also idled and consolidated certain administrative and engineering facilities in Michigan.  In 2010, we idled and decided to close our Spurrier Manufacturing Facility in England. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Ability to drive home the benefits of market cost competitiveness and productivity initiatives - Our Three Rivers Manufacturing Facility was named one of the 10 best plants in North America by Industry Week Magazine in 2010, which recognizes North American manufacturing facilities that foster productive and competitive work environments and optimize customer satisfaction.  The AAM Manufacturing System and associate involvement were noted as key enablers for the plant to be awarded new business. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Recognition for demonstrating outstanding achievements in manufacturing processes, quality enhancements, productivity improvement and customer satisfaction - In 2010, our Guanajuato Manufacturing Complex was awarded the "Shingo Prize" for Manufacturing Excellence, which focuses on lean manufacturing techniques and promotes world-class business performance through continuous improvements in core manufacturing and business processes. |

----

----

|                                                           |        |     |        |                                                                  |
|-----------------------------------------------------------|--------|-----|--------|------------------------------------------------------------------|
| Name                                                      |   | Age |   | Position                                                         |
| Richard E. Dauch ....................................     |   | 68  |   | Co-Founder, Chairman of the Board & Chief Executive Officer  |
| David C. Dauch .......................................    |   | 46  |   | President & Chief Operating Officer                          |
| John J. Bellanti ........................................ |   | 56  |   | Executive Vice President - Worldwide Operations                  |
| Michael K. Simonte ................................       |   | 47  |   | Executive Vice President - Finance & Chief Financial Officer |
| Mark S. Barrett ........................................  |   | 50  |   | Vice President - Engineering & Product Development           |
| David A. Culton ......................................    |   | 45  |   | President - AAM Europe, Vice President - AAM Corporate           |
| John E. Jerge ........................................... |   | 49  |   | President - AAM Americas, Vice President - AAM Corporate         |
| Allan R. Monich.......................................    |   | 57  |   | Vice President - Quality, Warranty & Customer Satisfaction   |
| Inacio N. Moriguchi.................................      |   | 51  |   | Vice President - Operations - AAM - Americas                     |
| Steven J. Proctor .....................................   |   | 54  |   | President - AAM Asia, Vice President - AAM Corporate             |
| Alberto L. Satine .....................................   |   | 54  |   | Vice President - Strategic & Business Development            |
| Kevin M. Smith........................................    |   | 49  |   | Vice President - Program Management & Launch                 |
| John S. Sofia ........................................... |   | 50  |   | Vice President - Commercial Vehicle Business                     |
| Thomas J. Szymanski..............................         |   | 49  |   | Vice President - Global Manufacturing Services                   |
| Norman Willemse ...................................       |   | 54  |   | Vice President - Global Metal Formed Product Business Unit       |

----

----

----

----

|                             |                                              |
|-----------------------------|----------------------------------------------|
| (d)     | Financial Information About Geographic Areas |

|                         |               |         |        |        |        |         |        |        |   |         |        |
|-------------------------|---------------|---------|--------|--------|--------|---------|--------|--------|---|---------|--------|
|                    | December 31,  |
|                    | 2010          |    | 2009   |   | 2008   |
|                    | (in millions) |
| Net sales               |          |    |   |   |   |
| United States           | $             | 1,396.7 |   |   | $      | 979.7   |   |   | $ | 1,306.5 |   |
| Canada                  | 50.1          |    |   | 66.5   |   |    | 166.2  |   |
| Mexico                  | 638.0         |    |   | 371.6  |   |    | 469.2  |   |
| South America           | 99.5          |    |   | 34.9   |   |    | 51.0   |   |
| Other                   | 98.7          |    |   | 68.9   |   |    | 116.3  |   |
| Total net sales         | $             | 2,283.0 |   |   | $      | 1,521.6 |   |   | $ | 2,109.2 |   |
|                    |          |    |   |   |   |
| Long-lived assets       |          |    |   |   |   |
| United States           | $             | 816.2   |   |   | $      | 818.0   |   |   | $ | 939.1   |   |
| Mexico                  | 381.8         |    |   | 410.3  |   |    | 432.3  |   |
| South America           | 124.4         |    |   | 112.0  |   |    | 75.2   |   |
| Other                   | 151.6         |    |   | 102.2  |   |    | 85.2   |   |
| Total long-lived assets | $             | 1,474.0 |   |   | $      | 1,442.5 |   |   | $ | 1,531.8 |   |

----

|                                  |              |
|----------------------------------|--------------|
| Item 1A.     | Risk Factors |

----

----

----

----

|                                  |                           |
|----------------------------------|---------------------------|
| Item 1B.     | Unresolved Staff Comments |

----

|                                 |            |
|---------------------------------|------------|
| Item 2.     | Properties |

|                                                                                                   |        |                  |        |                                                                                                                                            |
|---------------------------------------------------------------------------------------------------|--------|------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|
| Name                                                                                              |   | Type ofInterest  |   | Function                                                                                                                                   |
| Detroit Manufacturing ComplexDetroit, MI                                                          |   | Owned            |   | Rear and front axles and steering linkages                                                                                                 |
| Three Rivers Manufacturing FacilityThree Rivers, MI                                               |   | Owned            |   | Rear axles and driveshafts, front auxiliary driveshafts, universal joints and driveheads                                                   |
| Cheektowaga Manufacturing FacilityCheektowaga, NY                                                 |   | Owned            |   | Forged and machined products                                                                                                               |
| Colfor Manufacturing, Inc.Malvern, OHMinerva, OH                                                  |   |  OwnedOwned |   | Forged productsForged and machined products and rear axles                                                                                 |
| MSP IndustriesOxford, MI                                                                          |   | Leased           |   | Forged and machined products                                                                                                               |
| Oxford ForgeOxford, MI                                                                            |   | Owned            |   | Forged products                                                                                                                            |
| DieTronik       Auburn Hills, MI                               |   | Owned            |   | Tool & die manufacturer                                                                                                                |
| AccuGear, Inc.        Fort Wayne, IN                           |   | Owned            |   | Forged and machined products                                                                                                               |
| Lancaster Manufacturing Facility       Lancaster, Pennsylvania |   | Leased           |   | Assembly of axles for commercial vehicles                                                                                                  |
| Guanajuato Manufacturing Complex Guanajuato, Mexico                                               |   | Owned            |   | Rear axles and driveshafts, front axles, front auxiliary driveshafts, forging products, rear differential modules and power transfer units |
| Araucária Manufacturing FacilityAraucária, Brazil                                   |   | Owned            |   | Front and rear axles, machining of forged and cast products, and constant velocity joints                                                  |
| Albion AutomotiveGlasgow, Scotland                                                                |   | Leased           |   | Front and rear axles for medium and heavy-duty trucks and buses                                                                            |
| Swidnica Manufacturing Facility        Swidnica, Poland        |   | Owned            |   | Transmission differentials                                                                                                                 |
| Changshu Manufacturing FacilityChangshu, China                                                    |   | Owned            |   | Rear axles, gear sets and machined cases                                                                                                   |
| Pantnagar Manufacturing Facility      Pantnagar, India              |   | Owned            |   | Rear axles                                                                                                                                 |
| Pune Manufacturing Facility      Pune, India                        |   | Owned            |   | Driveheads                                                                                                                                 |
| World HeadquartersDetroit, MI                                                                     |   | Owned            |   | Executive and administrative offices                                                                                                       |
| Technical Center       Rochester Hills, MI                          |   | Owned            |   | R&D, design engineering, metallurgy, testing and validation                                                                            |

----

|                                 |                   |
|---------------------------------|-------------------|
| Item 3.     | Legal Proceedings |

|         |
|---------|
| Part II |

|        |                        |        |                        |        |                        |        |                   |        |           |   |       |        |        |   |       |        |        |   |       |        |
|--------|------------------------|--------|------------------------|--------|------------------------|--------|-------------------|--------|-----------|---|-------|--------|--------|---|-------|--------|--------|---|-------|--------|
| 2010   | 1st  Quarter |   | 2nd  Quarter |   | 3rd  Quarter |   | 4th  Quarter |   | Full Year |
|   | High                   | $      | 11.28                  |   |                   | $      | 11.79             |   |      | $ | 10.37 |   |   | $ | 13.27 |   |   | $ | 13.27 |   |
|   | Low                    | $      | 8.42                   |   |                   | $      | 7.33              |   |      | $ | 6.96  |   |   | $ | 8.58  |   |   | $ | 6.96  |   |
| 2009   |                   |   |                   |   |                   |   |              |   |      |
|   | High                   | $      | 2.83                   |   |                   | $      | 4.50              |   |      | $ | 8.13  |   |   | $ | 8.41  |   |   | $ | 8.41  |   |
|   | Low                    | $      | 0.29                   |   |                   | $      | 1.00              |   |      | $ | 1.13  |   |   | $ | 5.63  |   |   | $ | 0.29  |   |

----

|                                                                   |                                      |         |        |         |        |              |          |        |           |         |        |              |         |         |              |        |   |         |        |        |
|-------------------------------------------------------------------|--------------------------------------|---------|--------|---------|--------|--------------|----------|--------|-----------|---------|--------|--------------|---------|---------|--------------|--------|---|---------|--------|--------|
|                                                              | 2010                                 |    | 2009   |    | 2008   |         | 2007     |   | 2006      |    |
|                                                              | (in millions, except per share data) |    |
| Statement of operations data                                      |                                 |    |   |    |   |         |     |   |      |    |
| Net sales                                                         | $                                    | 2,283.0 |   |    | $      | 1,521.6      |     |   | $         | 2,109.2 |   |         | $       | 3,248.2 |         |   | $ | 3,191.7 |   |   |
| Gross profit (loss)                                               | 401.7                                |    |   | (31.1   | )      |         | (865.2   | )      |      | 278.4   |   |         | (129.4  | )       |         |
| Selling, general and                                              |                                 |    |   |    |   |         |     |   |      |    |
|    administrative expenses                         | 197.6                                |    |   | 172.7   |   |         | 185.4    |   |      | 202.8   |   |         | 197.4   |    |         |
| Operating income (loss)                                           | 204.1                                |    |   | (203.8  | )      |         | (1,050.6 | )      |      | 75.6    |   |         | (326.8  | )       |         |
| Net interest expense                                              | (85.2                                | )       |   | (82.5   | )      |         | (67.9    | )      |      | (52.3   | )      |         | (38.8   | )       |         |
| Net income (loss)                                                 | 114.5                                |    |   | (253.3  | )      | (a)(b)  | (1,224.6 | )      | (a)  | 37.0    |   | (a)(b)  | (223.0  | )       | (a)(b)  |
| Net income (loss) attributable to AAM                             | 115.4                                |    |   | (253.1  | )      | (a)(b)  | (1,224.3 | )      | (a)  | 37.0    |   | (a)(b)  | (223.0  | )       | (a)(b)  |
| Diluted earnings (loss) per share                                 | $                                    | 1.55    |   |    | $      | (4.81        | )        |   | $         | (23.73  | )      |         | $       | 0.69    |         |   | $ | (4.43   | )      |   |
| Diluted shares outstanding                                        | 74.5                                 |    |   | 52.6    |   |         | 51.6     |   |      | 53.8    |   |         | 50.4    |    |         |
|                                                              |                                 |    |   |    |   |         |     |   |      |    |
| Balance sheet data                                                |                                 |    |   |    |   |         |     |   |      |    |
| Cash and cash equivalents                                         | $                                    | 244.6   |   |    | $      | 178.1        |     |   | $         | 198.8   |   |         | $       | 343.6   |         |   | $ | 13.5    |   |   |
| Total assets                                                      | 2,114.7                              |    |   | 1,986.8 |   |         | 2,247.7  |   |      | 3,135.9 |   |         | 2,793.6 |    |         |
| Total long-term debt                                              | 1,010.0                              |    |   | 1,071.4 |   |         | 1,139.9  |   |      | 858.1   |   |         | 672.2   |    |         |
| Total AAM stockholders' equity (deficit)                          | (479.5                               | )       |   | (560.2  | )      |         | (435.7   | )      |      | 899.4   |   |         | 822.5   |    |         |
| Dividends declared per share                                      | —                              |    |   | — |   |         | 0.34     |   |      | 0.60    |   |         | 0.60    |    |         |
|                                                              |                                 |    |   |    |   |         |     |   |      |    |
| Statement of cash flows data                                      |                                 |    |   |    |   |         |     |   |      |    |
| Cash provided by (used in) operating    activities | $                                    | 240.3   |   |    | $      | 15.9         |     |   | $         | (163.1  | )      |         | $       | 367.9   |         |   | $ | 185.7   |   |   |
| Cash used in investing activities                                 | (107.0                               | )       |   | (74.6   | )      |         | (231.7   | )      |      | (186.5  | )      |         | (323.6  | )       |         |
| Cash provided by (used in) financing    activities | (66.4                                | )       |   | 32.1    |   |         | 254.5    |   |      | 148.3   |   |         | 147.3   |    |         |
| Dividends paid                                                    | —                              |    |   | — |   |         | (18.3    | )      |      | (31.8   | )      |         | (31.0   | )       |         |
|                                                              |                                 |    |   |    |   |         |     |   |      |    |
| Other data                                                        |                                 |    |   |    |   |         |     |   |      |    |
| Depreciation and amortization                                     | $                                    | 131.6   |   |    | $      | 134.7        |     |   | $         | 199.5   |   |         | $       | 229.4   |         |   | $ | 206.0   |   |   |
| Capital expenditures                                              | 108.3                                |    |   | 137.7   |   |         | 147.3    |   |      | 186.5   |   |         | 286.6   |    |         |
| Purchase buyouts of leased equipment                              | 7.8                                  |    |   | — |   |         | —  |   |      | — |   |         | 71.8    |    |         |

|                             |                                                                                                                                                                                                                                            |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a)     | Includes special charges, asset impairments, and other non-recurring costs and tax refunds of $120.5 million in 2009, $985.4 million in 2008, $58.7 million in 2007 and $248.2 million in 2006 primarily related to restructuring actions. |

|                             |                                                                                                                                                        |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)     | Includes charges of $7.7 million in 2009, $3.5 million in 2007 and $1.8 million in 2006, net of tax, related to debt refinancing and redemption costs. |

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|                                         |         |         |        |        |        |        |         |         |
|-----------------------------------------|---------|---------|--------|--------|--------|--------|---------|---------|
|                                    | 2010    |    | 2009   |   | 2008   |
| Federal statutory                       | 35.0    |  % |   | 35.0   | %      |   | 35.0    |  % |
| Foreign income taxes                    | (42.9   | )       |   | 11.6   |   |   | 2.2     |    |
| State and local                         | 1.6     |    |   | 0.1    |   |   | — |    |
| Valuation allowance                     | (39.3   | )       |   | (10.2  | )      |   | (44.8   | )       |
| U.S. tax on unremitted foreign earnings | 49.6    |    |   | (33.2  | )      |   | — |    |
| NOL carryback refund                    | — |    |   | 16.4   |   |   | — |    |
| Other                                   | (0.4    | )       |   | (5.0   | )      |   | (1.6    | )       |
| Effective income tax rate               | 3.6     |  % |   | 14.7   | %      |   | (9.2    | )%      |

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|                            |                         |                             |                               |         |
|----------------------------|-------------------------|-----------------------------|-------------------------------|---------|
|                       | Corporate Family Rating | Senior Secured Notes Rating | Senior Unsecured Notes Rating | Outlook |
| Standard & Poor's      | B+                      | BB-                         | B-                            | Stable  |
| Moody's Investors Services | B2                      | Ba2                         | B3                            | Stable  |
| Fitch Ratings              | B                       | BB-                         | CCC                           | Stable  |

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|                                      |                        |         |                     |        |                                       |        |                                 |        |                                   |         |        |        |         |        |        |        |   |         |        |
|--------------------------------------|------------------------|---------|---------------------|--------|---------------------------------------|--------|---------------------------------|--------|-----------------------------------|---------|--------|--------|---------|--------|--------|--------|---|---------|--------|
|                                 | Payments due by period |
|                                 | Total                  |    |   <1yr |   |      1-3 yrs |   |     3-5 yrs |   |     >5 yrs |
|                                 | (in millions)          |
| Long-term debt                       | $                      | 1,003.2 |                |   | $                                     | 25.6   |                            |   | $                                 | 5.8     |   |   | $       | 251.5  |   |   | $ | 720.3   |   |
| Interest obligations                 | 470.2                  |    |                | 80.5   |                                  |   | 155.5                           |   |                              | 133.3   |   |   | 100.9   |   |
| Capital lease obligations            | 6.8                    |    |                | 0.7    |                                  |   | 0.8                             |   |                              | 0.8     |   |   | 4.5     |   |
| Operating leases (1)                 | 27.8                   |    |                | 13.6   |                                  |   | 13.2                            |   |                              | 1.0     |   |   | — |   |
| Purchase obligations (2)   | 94.4                   |    |                | 85.0   |                                  |   | 9.4                             |   |                              | — |   |   | — |   |
| Other long-term liabilities (3) | 758.2                  |    |                | 79.2   |                                  |   | 147.1                           |   |                              | 147.4   |   |   | 384.5   |   |
| Total                                | $                      | 2,360.6 |                |   | $                                     | 284.6  |                            |   | $                                 | 331.8   |   |   | $       | 534.0  |   |   | $ | 1,210.2 |   |

|                             |                                                                                                                                                                                                                   |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | Operating leases include all lease payments through the end of the contractual lease terms, including elections for  repurchase options, and exclude any non-exercised purchase options on such leased equipment. |

|                             |                                                                                                                         |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------|
| (2)     | Purchase obligations represent our obligated purchase commitments for capital expenditures and related project expense. |

|                             |                                                                                                                                                                                                          |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)     | Other long-term liabilities represent our estimated pension and other postretirement benefit obligations that were actuarially determined through 2020, as well as our unrecognized income tax benefits. |

----

----

|                          |               |        |           |        |     |        |        |
|--------------------------|---------------|--------|-----------|--------|-----|--------|--------|
|                     |          |   | Expected  |
|                     | Discount      |   | Return on |
|                     | Rate          |   | Assets    |
|                     | (in millions) |
| Decline in funded status | $             | 45.9   |      |   | N/A |   |
| Increase in 2010 expense | $             | 1.7    |      |   | $   | 2.1    |   |

----

|                                |                                                                                                                      |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------|
| •     | An assessment as to whether an adverse event or circumstance has triggered the need for an impairment review;   |

|                                |                                                                                                                            |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------|
| •     | Determination of asset groups, the primary asset within each group, and the primary asset's average estimated useful life; |

|                                |                                                             |
|--------------------------------|-------------------------------------------------------------|
| •     | Undiscounted future cash flows generated by the assets; and |

|                                |                                                                                                                                                                                                                                                                                                                               |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Determination of fair value when an impairment is deemed to exist, which may require assumptions related to future general economic conditions, future expected production volumes, product pricing and cost estimates, working capital and capital investment requirements, discount rates and estimated liquidation values. |

----

----

|                            |
|----------------------------|
| Forward-Looking Statements |

|                                |                                   |
|--------------------------------|-----------------------------------|
| •     | global economic conditions;  |

|                                |                                                                                                                          |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------|
| •     | our ability to comply with the definitive terms and conditions of various commercial and financing arrangements with GM; |

|                                |                                                                       |
|--------------------------------|-----------------------------------------------------------------------|
| •     | reduced purchases of our products by GM, Chrysler or other customers; |

|                                |                                                                                                              |
|--------------------------------|--------------------------------------------------------------------------------------------------------------|
| •     | reduced demand for our customers' products (particularly light trucks and SUVs produced by GM and Chrysler); |

|                                |                                                                                                                                                                             |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | availability of financing for working capital, capital expenditures, R&D or other general corporate purposes, including our ability to comply with financial covenants; |

|                                |                                                                                                                                                 |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | our customers' and suppliers' availability of financing for working capital, capital expenditures, R&D or other general corporate purposes; |

|                                |                                                                               |
|--------------------------------|-------------------------------------------------------------------------------|
| •     | our ability to achieve cost reductions through ongoing restructuring actions; |

|                                |                                                                                                      |
|--------------------------------|------------------------------------------------------------------------------------------------------|
| •     | our ability to achieve the level of cost reductions required to sustain global cost competitiveness; |

|                                |                                                                                       |
|--------------------------------|---------------------------------------------------------------------------------------|
| •     | our ability to maintain satisfactory labor relations and avoid future work stoppages; |

|                                |                                                                                                                                |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------|
| •     | our suppliers', our customers' and their suppliers' ability to maintain satisfactory labor relations and avoid work stoppages; |

|                                |                                                  |
|--------------------------------|--------------------------------------------------|
| •     | additional restructuring actions that may occur; |

|                                |                                                                                     |
|--------------------------------|-------------------------------------------------------------------------------------|
| •     | our ability to continue to implement improvements in our U.S. labor cost structure; |

|                                |                                                                                              |
|--------------------------------|----------------------------------------------------------------------------------------------|
| •     | supply shortages or price increases in raw materials, utilities or other operating supplies; |

|                                |                                                                          |
|--------------------------------|--------------------------------------------------------------------------|
| •     | our ability to consummate and integrate acquisitions and joint ventures; |

|                                |                                                                                                                     |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------|
| •     | our ability or our customers' and suppliers' ability to successfully launch new product programs on a timely basis; |

|                                |                                                                                             |
|--------------------------------|---------------------------------------------------------------------------------------------|
| •     | our ability to realize the expected revenues from our new and incremental business backlog; |

|                                |                                                                     |
|--------------------------------|---------------------------------------------------------------------|
| •     | our ability to attract new customers and programs for new products; |

|                                |                                                                             |
|--------------------------------|-----------------------------------------------------------------------------|
| •     | our ability to develop and produce new products that reflect market demand; |

|                                |                                                                       |
|--------------------------------|-----------------------------------------------------------------------|
| •     | lower-than-anticipated market acceptance of new or existing products; |

|                                |                                                                                              |
|--------------------------------|----------------------------------------------------------------------------------------------|
| •     | our ability to respond to changes in technology, increased competition or pricing pressures; |

|                                |                                                        |
|--------------------------------|--------------------------------------------------------|
| •     | price volatility in, or reduced availability of, fuel; |

|                                |                                                                                                                                                                                                       |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | adverse changes in laws, government regulations or market conditions affecting our products or our customers' products (such as the Corporate Average Fuel Economy (“CAFE”) regulations); |

|                                |                                                                                                                                                                                                                |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | risks inherent in our international operations (including adverse changes in political stability, taxes and other law changes, potential disruption of production and supply, and currency rate fluctuations); |

|                                |                                                                                                                                          |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|
| •     | liabilities arising from warranty claims, product recall, product liability and legal proceedings to which we are or may become a party; |

|                                |                                                                                           |
|--------------------------------|-------------------------------------------------------------------------------------------|
| •     | changes in liabilities arising from pension and other postretirement benefit obligations; |

|                                |                                                                                                                                                 |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | risks of noncompliance with environmental regulations or risks of environmental issues that could result in unforeseen costs at our facilities; |

|                                |                                                   |
|--------------------------------|---------------------------------------------------|
| •     | our ability to attract and retain key associates; |

|                                |                                                                                   |
|--------------------------------|-----------------------------------------------------------------------------------|
| •     | other unanticipated events and conditions that may hinder our ability to compete. |

----

----

|                                                                           |                                      |         |        |         |        |         |          |        |   |          |        |
|---------------------------------------------------------------------------|--------------------------------------|---------|--------|---------|--------|---------|----------|--------|---|----------|--------|
|                                                                      | 2010                                 |    | 2009   |    | 2008   |
|                                                                      | (in millions, except per share data) |
|                                                                      |                                 |    |   |    |   |
| Net sales                                                                 | $                                    | 2,283.0 |   |    | $      | 1,521.6 |     |   | $ | 2,109.2  |   |
|                                                                      |                                 |    |   |    |   |
| Cost of goods sold                                                        | 1,881.3                              |    |   | 1,552.7 |   |    | 2,974.4  |   |
|                                                                      |                                 |    |   |    |   |
| Gross profit (loss)                                                       | 401.7                                |    |   | (31.1   | )      |    | (865.2   | )      |
|                                                                      |                                 |    |   |    |   |
| Selling, general and administrative expenses                              | 197.6                                |    |   | 172.7   |   |    | 185.4    |   |
|                                                                      |                                 |    |   |    |   |
| Operating income (loss)                                                   | 204.1                                |    |   | (203.8  | )      |    | (1,050.6 | )      |
|                                                                      |                                 |    |   |    |   |
| Interest expense                                                          | (89.0                                | )       |   | (84.5   | )      |    | (70.4    | )      |
|                                                                      |                                 |    |   |    |   |
| Investment income                                                         | 3.8                                  |    |   | 2.0     |   |    | 2.5      |   |
|                                                                      |                                 |    |   |    |   |
| Other expense                                                             |                                 |    |   |    |   |
| Debt refinancing and redemption costs                                     | —                              |    |   | (7.7    | )      |    | —  |   |
| Other, net                                                                | (0.1                                 | )       |   | (3.1    | )      |    | (2.8     | )      |
|                                                                      |                                 |    |   |    |   |
| Income (loss) before income taxes                                         | 118.8                                |    |   | (297.1  | )      |    | (1,121.3 | )      |
|                                                                      |                                 |    |   |    |   |
| Income tax expense (benefit)                                              | 4.3                                  |    |   | (43.8   | )      |    | 103.3    |   |
|                                                                      |                                 |    |   |    |   |
| Net income (loss)                                                         | $                                    | 114.5   |   |    | $      | (253.3  | )        |   | $ | (1,224.6 | )      |
|                                                                      |                                 |    |   |    |   |
|     Net loss attributable to noncontrolling interests | 0.9                                  |    |   | 0.2     |   |    | 0.3      |   |
|                                                                      |                                 |    |   |    |   |
| Net income (loss) attributable to AAM                                     | $                                    | 115.4   |   |    | $      | (253.1  | )        |   | $ | (1,224.3 | )      |
|                                                                      |                                 |    |   |    |   |
| Basic earnings (loss) per share                                           | $                                    | 1.61    |   |    | $      | (4.81   | )        |   | $ | (23.73   | )      |
|                                                                      |                                 |    |   |    |   |
| Diluted earnings (loss) per share                                         | $                                    | 1.55    |   |    | $      | (4.81   | )        |   | $ | (23.73   | )      |
|                                                                      |                                 |    |   |    |   |

----

|                                                                                               |                                      |         |        |         |        |         |        |
|-----------------------------------------------------------------------------------------------|--------------------------------------|---------|--------|---------|--------|---------|--------|
|                                                                                          | 2010                                 |    | 2009   |
| Assets                                                                                        | (in millions, except per share data) |
| Current assets                                                                                |                                 |    |   |
|    Cash and cash equivalents                                                   | $                                    | 244.6   |   |    | $      | 178.1   |   |
|    Short-term investments                                                      | —                              |    |   | 4.2     |   |
|    Accounts receivable, net                                                    | 146.6                                |    |   | 129.7   |   |
|    Inventories, net                                                            | 130.3                                |    |   | 90.6    |   |
|    Deferred income taxes                                                       | 8.0                                  |    |   | 5.9     |   |
|    Prepaid expenses and other                                                  | 72.6                                 |    |   | 108.1   |   |
| Total current assets                                                                          | 602.1                                |    |   | 516.6   |   |
|                                                                                          |                                 |    |   |
| Property, plant and equipment, net                                                            | 936.3                                |    |   | 946.7   |   |
| Deferred income taxes                                                                         | 38.6                                 |    |   | 27.7    |   |
| Goodwill                                                                                      | 155.8                                |    |   | 147.8   |   |
| GM postretirement cost sharing asset                                                          | 244.4                                |    |   | 219.9   |   |
| Other assets and deferred charges                                                             | 137.5                                |    |   | 128.1   |   |
| Total assets                                                                                  | $                                    | 2,114.7 |   |    | $      | 1,986.8 |   |
|                                                                                          |                                 |    |   |
| Liabilities and Stockholders' Deficit                                                         |                                 |    |   |
| Current liabilities                                                                           |                                 |    |   |
|    Accounts payable                                                            | $                                    | 283.6   |   |    | $      | 200.9   |   |
|    Accrued compensation and benefits                                           | 115.1                                |    |   | 98.9    |   |
|    Deferred revenue                                                            | 79.9                                 |    |   | 76.1    |   |
|    Deferred income taxes                                                       | 8.9                                  |    |   | 4.4     |   |
|    Other accrued expenses                                                      | 81.6                                 |    |   | 65.2    |   |
| Total current liabilities                                                                     | 569.1                                |    |   | 445.5   |   |
|                                                                                          |                                 |    |   |
| Long-term debt                                                                                | 1,010.0                              |    |   | 1,071.4 |   |
| Deferred income taxes                                                                         | 6.6                                  |    |   | 5.6     |   |
| Deferred revenue                                                                              | 116.0                                |    |   | 189.7   |   |
| Postretirement benefits and other long-term liabilities                                       | 881.1                                |    |   | 834.5   |   |
| Total liabilities                                                                             | 2,582.8                              |    |   | 2,546.7 |   |
|                                                                                          |                                 |    |   |
| Stockholders' deficit                                                                         |                                 |    |   |
| Series A junior participating preferred stock, par value $0.01 per share;                     |                                 |    |   |
| 0.1 million shares authorized; no shares outstanding in 2010 or 2009                          | —                              |    |   | — |   |
| Preferred stock, par value $0.01 per share; 10.0 million shares                               |                                 |    |   |
| authorized; no shares outstanding in 2010 or 2009                                             | —                              |    |   | — |   |
| Common stock, par value $0.01 per share; 150.0 million shares authorized;                     |                                 |    |   |
| 74.3 million and 73.7 million shares issued and outstanding in 2010 and 2009, respectively    | 0.8                                  |    |   | 0.8     |   |
| Series common stock, par value $0.01 per share; 40.0 million                                  |                                 |    |   |
| shares authorized; no shares outstanding in 2010 or 2009                                      | —                              |    |   | — |   |
| Paid-in capital                                                                               | 588.1                                |    |   | 579.9   |   |
| Accumulated deficit                                                                           | (786.3                               | )       |   | (901.7  | )      |
|   Treasury stock at cost, 5.5 million shares in 2010 and 5.4 million shares in 2009 | (176.1                               | )       |   | (174.8  | )      |
| Accumulated other comprehensive income (loss), net of tax                                     |                                 |    |   |
|      Defined benefit plans                                           | (152.1                               | )       |   | (101.8  | )      |
|      Foreign currency translation adjustments                        | 44.8                                 |    |   | 37.4    |   |
|      Unrecognized gain on derivatives                                | 1.3                                  |    |   | — |   |
| Total AAM stockholders' deficit                                                               | (479.5                               | )       |   | (560.2  | )      |
|      Noncontrolling interests in subsidiaries                        | 11.4                                 |    |   | 0.3     |   |
| Total stockholders' deficit                                                                   | (468.1                               | )       |   | (559.9  | )      |
| Total liabilities and stockholders' deficit                                                   | $                                    | 2,114.7 |   |    | $      | 1,986.8 |   |

----

|                                                                                                   |         |        |               |         |        |        |         |        |   |          |        |
|---------------------------------------------------------------------------------------------------|---------|--------|---------------|---------|--------|--------|---------|--------|---|----------|--------|
|                                                                                              | 2010    |   | 2009          |    | 2008   |
|                                                                                              |    |   | (in millions) |    |   |
| Operating Activities                                                                              |    |   |          |    |   |
| Net income (loss)                                                                                 | $       | 114.5  |          |    | $      | (253.3 | )       |   | $ | (1,224.6 | )      |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |    |   |          |    |   |
| Asset impairments and related indirect inventory obsolescence                                     | 8.7     |   |          | 151.7   |   |   | 599.0   |   |
| Depreciation and amortization                                                                     | 131.6   |   |          | 134.7   |   |   | 199.5   |   |
| Deferred income taxes                                                                             | (8.0    | )      |          | (18.9   | )      |   | 82.5    |   |
| Stock-based compensation                                                                          | 9.4     |   |          | 13.6    |   |   | 9.9     |   |
| Pensions and other postretirement benefits, net of contributions                                  | (28.8   | )      |          | (83.4   | )      |   | 3.6     |   |
| Loss on retirement of equipment and held-for-sale assets, net                                     | 2.9     |   |          | 0.7     |   |   | 4.0     |   |
| Debt refinancing and redemption costs                                                             | — |   |          | 7.7     |   |   | — |   |
| Changes in operating assets and liabilities                                                       |    |   |          |    |   |
| Accounts receivable                                                                               | (14.8   | )      |          | 118.9   |   |   | 71.9    |   |
| Inventories                                                                                       | (38.9   | )      |          | 19.6    |   |   | 52.6    |   |
| Accounts payable and accrued expenses                                                             | 112.0   |   |          | (50.7   | )      |   | (77.1   | )      |
| Deferred revenue                                                                                  | (70.1   | )      |          | 20.9    |   |   | 69.9    |   |
| Other assets and liabilities                                                                      | 21.8    |   |          | (45.6   | )      |   | 45.7    |   |
| Net cash provided by (used in) operating activities                                               | 240.3   |   |          | 15.9    |   |   | (163.1  | )      |
|                                                                                              |    |   |          |    |   |
| Investing activities                                                                              |    |   |          |    |   |
| Purchases of property, plant and equipment                                                        | (108.3  | )      |          | (137.7  | )      |   | (147.3  | )      |
| Proceeds from sale of property, plant and equipment                                               | 4.9     |   |          | 1.7     |   |   | 3.4     |   |
| Purchase buyouts of leased equipment                                                              | (7.8    | )      |          | — |   |   | — |   |
| Acquisition, net                                                                                  | (2.2    | )      |          | (10.2   | )      |   | (10.7   | )      |
| Redemption of short-term investments                                                              | 6.4     |   |          | 71.6    |   |   | 40.1    |   |
| Reclassification of cash equivalents to short-term investments                                    | — |   |          | — |   |   | (117.2  | )      |
| Net cash used in investing activities                                                             | (107.0  | )      |          | (74.6   | )      |   | (231.7  | )      |
|                                                                                              |    |   |          |    |   |
| Financing activities                                                                              |    |   |          |    |   |
| Net short-term borrowings (repayments) under credit facilities                                    | (60.0   | )      |          | (163.1  | )      |   | 290.3   |   |
| Proceeds from issuance of long-term debt                                                          | 6.2     |   |          | 854.8   |   |   | 8.9     |   |
| Conversion of 2.00% Notes                                                                         | — |   |          | — |   |   | (2.3    | )      |
| Payment of Term Loan                                                                              | — |   |          | (250.0  | )      |   | — |   |
| Payments of other long-term debt and capital lease obligations                                    | (8.1    | )      |          | (516.8  | )      |   | (11.5   | )      |
| Debt issuance costs                                                                               | (2.2    | )      |          | (32.9   | )      |   | (13.4   | )      |
| Purchase of noncontrolling interest                                                               | (2.1    | )      |          | — |   |   | — |   |
| Proceeds from issuance of common stock, net                                                       | — |   |          | 109.7   |   |   | — |   |
| Proceeds from issuance of warrants to GM                                                          | — |   |          | 30.3    |   |   | — |   |
| Employee stock option exercises, including tax benefit                                            | 1.1     |   |          | 1.0     |   |   | 0.9     |   |
| Dividends paid                                                                                    | — |   |          | — |   |   | (18.3   | )      |
| Purchase of treasury stock                                                                        | (1.3    | )      |          | (0.9    | )      |   | (0.1    | )      |
| Net cash provided by (used in) financing activities                                               | (66.4   | )      |          | 32.1    |   |   | 254.5   |   |
|                                                                                              |    |   |          |    |   |
| Effect of exchange rate changes on cash                                                           | (0.4    | )      |          | 5.9     |   |   | (4.5    | )      |
|                                                                                              |    |   |          |    |   |
| Net increase (decrease) in cash and cash equivalents                                              | 66.5    |   |          | (20.7   | )      |   | (144.8  | )      |
|                                                                                              |    |   |          |    |   |
| Cash and cash equivalents at beginning of year                                                    | 178.1   |   |          | 198.8   |   |   | 343.6   |   |
|                                                                                              |    |   |          |    |   |
| Cash and cash equivalents at end of year                                                          | $       | 244.6  |          |    | $      | 178.1  |    |   | $ | 198.8    |   |
|                                                                                              |    |   |          |    |   |
| Supplemental cash flow information                                                                |    |   |          |    |   |
| Interest paid                                                                                     | $       | 61.6   |          |    | $      | 80.0   |    |   | $ | 75.9     |   |
| Income taxes paid (refunds received)                                                              | $       | (43.1  | )             |    | $      | 3.8    |    |   | $ | 4.8      |   |

----

|                                                           |               |        |         |          |               |                     |                     |              |               |         |        |        |        |          |          |        |        |        |   |         |        |        |  |  |  |  |
|-----------------------------------------------------------|---------------|--------|---------|----------|---------------|---------------------|---------------------|--------------|---------------|---------|--------|--------|--------|----------|----------|--------|--------|--------|---|---------|--------|--------|--|--|--|--|
|                                                      |          |   |    |     |          | Accumulated Other   |                |         |          |
|                                                      | Common Stock  |   |    |     | Comprehensive | Comprehensive       | Noncontrolling      |         |
|                                                      | Shares        | Par    | Paid-in | Retained | Treasury      | Income (Loss)       | Income (Loss)       | Interest in  | Comprehensive |
|                                                      | Outstanding   | Value  | Capital | Earnings | Stock         | Attributable to AAM | Attributable to AAM | Subsidiaries | Income (Loss) |
|                                                      | (in millions) |
|                                                      |          |   |    |     |          |                |                |         |          |
| Balance at January 1, 2008                                | 51.6          |   | $       | 0.6      |          | $                   | 416.3               |         | $             | 591.9   |   | $      | (173.8 | )        | $        | 64.4   |   |   | $ | — |   |   |
|                                                      |          |   |    |     |          |                |                |         |          |
| Net loss                                                  |          |   |    | (1,224.3 | )             |                |                | $            | (1,224.3      | )       | $      | (0.3   | )      | $        | (1,224.6 | )      |
| Change in derivatives, net                                |          |   |    |     |          | (8.1                | )                   | (8.1         | )             |    | (8.1   | )      |
| Foreign currency translation, net                         |          |   |    |     |          | (34.0               | )                   | (34.0        | )             | — |   | (34.0  | )      |
| Defined benefit plans, net                                |          |   |    |     |          | (62.8               | )                   | (62.8        | )             |    | (62.8  | )      |
| Total comprehensive income (loss)                         |          |   |    |     |          |                | $                   | (1,329.2     | )             | $       | (0.3   | )      | $      | (1,329.5 | )        |
| Change in noncontrolling interest ownership               |          |   |    |     |          |                |                | 0.5          |          |    |
| Exercise of stock options and vesting of                  |          |   |    |     |          |                |                |         |          |
|    restricted stock, including tax benefit | 0.1           |   |    | 0.9      |          |                |                |         |          |    |   |
| Dividends paid                                            |          |   | (2.1    | )        | (16.2         | )                   |                |         |          |    |   |
| Stock-based compensation                                  |          |   | 11.6    |     |          |                |                |         |          |    |
| Purchase of treasury stock                                |          |   |    |     | (0.1          | )                   |                |         |          |    |
| Balance at December 31, 2008                              | 51.7          |   | $       | 0.6      |          | $                   | 426.7               |         | $             | (648.6  | )      | $      | (173.9 | )        | $        | (40.5  | )      |   | $ | 0.2     |   |   |
|                                                      |          |   |    |     |          |                |                |         |          |
| Net loss                                                  |          |   |    | (253.1   | )             |                |                | $            | (253.1        | )       | $      | (0.2   | )      | $        | (253.3   | )      |
| Change in derivatives, net                                |          |   |    |     |          | 11.4                |                | 11.4         |          |    | 11.4   |   |
| Foreign currency translation, net                         |          |   |    |     |          | 37.2                |                | 37.2         |          | 0.4     |   | 37.6   |   |
| Defined benefit plans, net                                |          |   |    |     |          | (72.5               | )                   | (72.5        | )             |    | (72.5  | )      |
| Total comprehensive income (loss)                         |          |   |    |     |          |                | $                   | (277.0       | )             | $       | 0.2    |   | $      | (276.8   | )        |
| Proceeds from issuance of common stock, net               | 16.1          |   | 0.2     |     | 109.5         |                |                |         |          |    |   |   |
| Proceeds from issuance of warrants to GM                  |          |   | 30.3    |     |          |                |                |         |          |    |
| Change in noncontrolling interest ownership               |          |   |    |     |          |                |                | (0.1         | )             |    |
| Exercise of stock options and vesting of restricted stock | 0.6           |   |    | 1.0      |          |                |                |         |          |    |   |
| Stock-based compensation                                  |          |   | 12.4    |     |          |                |                |         |          |    |
| Purchase of treasury stock                                |          |   |    |     | (0.9          | )                   |                |         |          |    |
| Balance at December 31, 2009                              | 68.4          |   | $       | 0.8      |          | $                   | 579.9               |         | $             | (901.7  | )      | $      | (174.8 | )        | $        | (64.4  | )      |   | $ | 0.3     |   |   |
|                                                      |          |   |    |     |          |                |                |         |          |
| Net income (loss)                                         |          |   |    | 115.4    |          |                |                | $            | 115.4         |    | $      | (0.9   | )      | $        | 114.5    |   |
| Change in derivatives, net                                |          |   |    |     |          | 1.3                 |                | 1.3          |          |    | 1.3    |   |
| Foreign currency translation, net                         |          |   |    |     |          | 7.4                 |                | 7.4          |          | (0.1    | )      | 7.3    |   |
| Defined benefit plans, net                                |          |   |    |     |          | (50.3               | )                   | (50.3        | )             |    | (50.3  | )      |
| Total comprehensive income (loss)                         |          |   |    |     |          |                | $                   | 73.8         |          | $       | (1.0   | )      | $      | 72.8     |     |
| Issuance of noncontrolling interest in e-AAM              |          |   |    |     |          |                |                | 12.0         |          |    |
| Acquisition of noncontrolling interest                    |          |   | (2.1    | )        |          |                |                |         | 0.1           |    |   |
| Exercise of stock options and vesting of restricted stock | 0.5           |   |    | 1.1      |          |                |                |         |          |    |   |
| Stock-based compensation                                  |          |   | 9.2     |     |          |                |                |         |          |    |
| Purchase of treasury stock                                | (0.1          | )      |    |     |          | (1.3                | )                   |         |          |    |   |
| Balance at December 31, 2010                              | 68.8          |   | $       | 0.8      |          | $                   | 588.1               |         | $             | (786.3  | )      | $      | (176.1 | )        | $        | (106.0 | )      |   | $ | 11.4    |   |   |
|                                                      |          |   |    |     |          |                |                |         |          |

----

|                            |                                                             |
|----------------------------|-------------------------------------------------------------|
| 1.     | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

----

----

|                                    |               |        |        |        |        |       |        |
|------------------------------------|---------------|--------|--------|--------|--------|-------|--------|
|                               | December 31,  |
|                               | 2010          |   | 2009   |
|                               | (in millions) |
| Raw materials and work-in-progress | $             | 137.7  |   |   | $      | 101.3 |   |
| Finished goods                     | 20.3          |   |   | 23.0   |   |
| Gross inventories                  | 158.0         |   |   | 124.3  |   |
| Inventory valuation reserves       | (27.7         | )      |   | (33.7  | )      |
| Inventories, net                   | $             | 130.3  |   |   | $      | 90.6  |   |

|                                           |              |        |               |        |        |         |        |       |        |
|-------------------------------------------|--------------|--------|---------------|--------|--------|---------|--------|-------|--------|
|                                      | Estimated    |   | December 31,  |
|                                      | Useful Lives |   | 2010          |   | 2009   |
|                                      | (years)      |   | (in millions) |
| Land                                      |         |   | $             | 28.2   |   |    | $      | 28.3  |   |
| Land improvements                         | 10-15        |   | 15.6          |   |   | 16.6    |   |
| Buildings and building improvements       |  15-40  |   | 261.0         |   |   | 257.0   |   |
| Machinery and equipment                   |  3-12   |   | 1,320.4       |   |   | 1,284.5 |   |
| Construction in progress                  |         |   | 107.4         |   |   | 67.8    |   |
|                                      |         |   | 1,732.6       |   |   | 1,654.2 |   |
| Accumulated depreciation and amortization |         |   | (796.3        | )      |   | (707.5  | )      |
| Property, plant and equipment, net        |         |   | $             | 936.3  |   |    | $      | 946.7 |   |

----

----

|                            |                       |
|----------------------------|-----------------------|
| 2.     | RESTRUCTURING ACTIONS |

|                                 |                               |                          |                                 |                              |                        |                             |         |         |         |        |         |        |        |        |        |   |         |        |   |      |        |
|---------------------------------|-------------------------------|--------------------------|---------------------------------|------------------------------|------------------------|-----------------------------|---------|---------|---------|--------|---------|--------|--------|--------|--------|---|---------|--------|---|------|--------|
|                            | One-time Termination Benefits | Asset Impairment Charges | Indirect Inventory Obsolescence | Asset Retirement Obligations | Contract Related Costs | Other Restructuring Actions | Total   |
|                            | (in millions)                 |
| Accrual as of January 1, 2009   | $                             | 42.1                     |                            | $                            | —                |                        | $       | — |    | $      | 0.4     |   | $      | 5.3    |   | $ | — |   | $ | 47.8 |   |
| Charges                         | 8.9                           |                     | 147.8                           |                         | 3.9                    |                        | 1.0     |    | 21.1    |   | 10.3    |   | 193.0  |   |
| Cash utilization                | (44.3                         | )                        | —                         |                         | —                |                        | (0.1    | )       | (5.1    | )      | (10.3   | )      | (59.8  | )      |
| Non-cash utilization            | —                       |                     | (147.8                          | )                            | (3.9                   | )                           | — |    | — |   | — |   | (151.7 | )      |
| Accrual adjustments             | 1.3                           |                     | —                         |                         | —                |                        | — |    | — |   | — |   | 1.3    |   |
| Accrual as of December 31, 2009 | $                             | 8.0                      |                            | $                            | —                |                        | $       | — |    | $      | 1.3     |   | $      | 21.3   |   | $ | — |   | $ | 30.6 |   |
| Charges                         | —                       |                     | 8.4                             |                         | 0.3                    |                        | 0.1     |    | — |   | 0.2     |   | 9.0    |   |
| Cash utilization                | (6.0                          | )                        | —                         |                         | —                |                        | — |    | (6.8    | )      | (0.2    | )      | (13.0  | )      |
| Non-cash utilization            | —                       |                     | (8.4                            | )                            | (0.3                   | )                           | — |    | — |   | — |   | (8.7   | )      |
| Accrual adjustments             | (0.8                          | )                        | —                         |                         | —                |                        | — |    | (2.3    | )      | — |   | (3.1   | )      |
| Accrual as of December 31, 2010 | $                             | 1.2                      |                            | $                            | —                |                        | $       | — |    | $      | 1.4     |   | $      | 12.2   |   | $ | — |   | $ | 14.8 |   |

----

|                            |                                    |
|----------------------------|------------------------------------|
| 3.     | SUPPLEMENTAL UNEMPLOYMENT BENEFITS |

|                            |                                      |
|----------------------------|--------------------------------------|
| 4.     | LONG-TERM DEBT AND LEASE OBLIGATIONS |

|                              |               |         |        |        |        |         |        |
|------------------------------|---------------|---------|--------|--------|--------|---------|--------|
|                         | December 31,  |
|                         | 2010          |    | 2009   |
|                         | (in millions) |
|                         |          |    |   |
| Revolving credit facility    | $             | — |   |   | $      | 60.0    |   |
| 9.25% Notes, net of discount | 420.3         |    |   | 419.6  |   |
| 7.875% Notes                 | 300.0         |    |   | 300.0  |   |
| 5.25% Notes, net of discount | 249.9         |    |   | 249.9  |   |
| 2.00% Convertible Notes      | 0.4           |    |   | 0.4    |   |
| Foreign credit facilities    | 32.6          |    |   | 34.1   |   |
| Capital lease obligations    | 6.8           |    |   | 7.4    |   |
| Long-term debt               | $             | 1,010.0 |   |   | $      | 1,071.4 |   |

----

----

|            |       |         |        |
|------------|-------|---------|--------|
| 2011       | $     | 26.2    |   |
| 2012       | 3.6   |    |
| 2013       | 3.0   |    |
| 2014       | 251.9 |    |
| 2015       | 0.4   |    |
| Thereafter | 724.9 |    |
| Total      | $     | 1,010.0 |   |

----

|                            |                                 |
|----------------------------|---------------------------------|
| 5.     | DERIVATIVES AND RISK MANAGEMENT |

|                            |                                                             |        |                                                                      |        |                                                                   |        |   |        |         |        |   |     |        |
|----------------------------|-------------------------------------------------------------|--------|----------------------------------------------------------------------|--------|-------------------------------------------------------------------|--------|---|--------|---------|--------|---|-----|--------|
|                       | Location of Gain (Loss) Reclassified into Net Income (Loss) |   | Gain (Loss) Reclassified During the Twelve Months Ended December 31, |   | Gain (Loss) Expected to be Reclassified During the Next 12 Months |
|                       | 2010                                                        |   | 2009                                                                 |   |
|                       |                                                        |   | (in millions)                                                        |
| Currency forward contracts | Cost of Goods Sold                                          |   | $                                                                    | 0.8    |                                                              |   | $ | (7.5   | )       |   | $ | 1.3 |   |
| Interest rate hedges       | Interest Expense                                            |   | —                                                              |   |                                                              | (4.1   | ) |   | — |   |

----

|                            |            |
|----------------------------|------------|
| 6.     | FAIR VALUE |

|                                |                                                                                     |
|--------------------------------|-------------------------------------------------------------------------------------|
| •     | Level 1:  Observable inputs such as quoted prices in active markets; |

|                                |                                                                                                                                          |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and |

|                                |                                                                                                                                                             |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 3:  Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. |

|                                                    |                   |        |                   |         |                 |        |            |        |        |         |        |        |         |      |        |        |         |
|----------------------------------------------------|-------------------|--------|-------------------|---------|-----------------|--------|------------|--------|--------|---------|--------|--------|---------|------|--------|--------|---------|
|                                               | December 31, 2010 |   | December 31, 2009 |    |            |
|                                               | Carrying Amount   |   | Fair Value        |    | Carrying Amount |   | Fair Value |   | Input  |
|                                               | (in millions)     |   | (in millions)     |    |            |
| Balance Sheet Classification                       |              |   |              |    |            |   |       |   |   |
| Cash equivalents                                   | $                 | 152.5  |              |    | $               | 152.5  |       |   | $      | 77.0    |   |   | $       | 77.0 |   |   | Level 1 |
| Short-term investments                             | —           |   |              | — |            |   | 4.2        |   |   | 4.2     |   |   | Level 2 |
| Prepaid expenses and other current assets          |              |   |              |    |            |   |       |   |   |
|     Currency forward contracts | 1.3               |   |              | 1.3     |            |   | —    |   |   | — |   |   | Level 2 |

|                           |                   |         |                   |        |                 |         |            |        |        |       |        |        |         |      |        |        |         |
|---------------------------|-------------------|---------|-------------------|--------|-----------------|---------|------------|--------|--------|-------|--------|--------|---------|------|--------|--------|---------|
|                      | December 31, 2010 |    | December 31, 2009 |   |            |
|                      | Carrying Amount   |    | Fair Value        |   | Carrying Amount |    | Fair Value |   | Input  |
|                      | (in millions)     |    | (in millions)     |   |            |
|                      |              |    |              |   |            |    |       |   |   |
| Revolving Credit Facility | $                 | — |              |   | $               | — |       |   | $      | 60.0  |   |   | $       | 57.0 |   |   | Level 2 |
| 9.25% Notes               | 420.3             |    |              | 473.9  |            |    | 419.6      |   |   | 433.5 |   |   | Level 2 |
| 7.875% Notes              | 300.0             |    |              | 306.0  |            |    | 300.0      |   |   | 258.0 |   |   | Level 2 |
| 5.25% Notes               | 249.9             |    |              | 245.0  |            |    | 249.9      |   |   | 212.5 |   |   | Level 2 |

----

|                                    |        |                                              |         |                                                                    |        |                                              |        |                                                                    |        |        |      |        |        |   |      |        |
|------------------------------------|--------|----------------------------------------------|---------|--------------------------------------------------------------------|--------|----------------------------------------------|--------|--------------------------------------------------------------------|--------|--------|------|--------|--------|---|------|--------|
| Balance Sheet Classification       |   | Fair Value Measurements using Level 3 Inputs |    | Asset Impairment Recorded in Twelve Months ended December 31, 2010 |   | Fair Value Measurements using Level 3 Inputs |   | Asset Impairment Recorded in Twelve Months ended December 31, 2009 |
|                               |   | (in millions)                                |
| Property, plant and equipment, net |   | $                                            | — |                                                               |   | $                                            | 7.6    |                                                               |   | $      | 34.1 |   |   | $ | 72.6 |   |
| Other assets and deferred charges  |   | —                                      |    |                                                               | 0.8    |                                         |   | 1.5                                                                |   |   | 3.3  |   |

|                                   |        |                                              |        |                                                                         |        |   |     |        |
|-----------------------------------|--------|----------------------------------------------|--------|-------------------------------------------------------------------------|--------|---|-----|--------|
| Balance Sheet Classification      |   | Fair Value Measurements using Level 3 Inputs |   | Loss on Remeasurement Recorded in Twelve Months ended December 31, 2010 |
|                              |   | (in millions)                                |
| Other assets and deferred charges |   | $                                            | 1.1    |                                                                    |   | $ | 5.1 |   |

----

|                            |                              |
|----------------------------|------------------------------|
| 7.     | INVESTMENT IN JOINT VENTURES |

|                            |                         |
|----------------------------|-------------------------|
| 8.     | STOCKHOLDER RIGHTS PLAN |

----

|                            |                        |
|----------------------------|------------------------|
| 9.     | EMPLOYEE BENEFIT PLANS |

|                                |                  |        |        |        |      |        |      |        |        |        |      |        |        |        |        |        |        |        |      |        |        |      |        |        |      |        |
|--------------------------------|------------------|--------|--------|--------|------|--------|------|--------|--------|--------|------|--------|--------|--------|--------|--------|--------|--------|------|--------|--------|------|--------|--------|------|--------|
|                           | Pension Benefits |   | OPEB   |
|                           | 2010             |   | 2009   |   | 2008 |   | 2010 |   | 2009   |   | 2008 |
|                           | U.S.             |   | U.K    |   | U.S. |   | U.K  |   | U.S.   |   | U.K. |   |   |   |   |   |   |
| Discount rate                  | 5.70             | %      |   | 5.35   | %    |   | 6.10 | %      |   | 5.70   | %    |   | 6.50   | %      |   | 5.90   | %      |   | 5.70 | %      |   | 6.00 | %      |   | 6.50 | %      |
| Expected return on plan assets | 8.00             | %      |   | 6.00   | %    |   | 8.00 | %      |   | 6.25   | %    |   | 8.00   | %      |   | 5.90   | %      |   | N/A  |   |   | N/A  |   |   | N/A  |   |
| Rate of compensation increase  | 3.75             | %      |   | 3.65   | %    |   | 3.75 | %      |   | 3.75   | %    |   | 3.75   | %      |   | 3.30   | %      |   | 3.75 | %      |   | 3.75 | %      |   | 3.75 | %      |

----

|                                                |                  |        |               |         |        |        |         |        |        |         |        |        |   |         |        |
|------------------------------------------------|------------------|--------|---------------|---------|--------|--------|---------|--------|--------|---------|--------|--------|---|---------|--------|
|                                           | Pension Benefits |   | OPEB          |
|                                           | December 31,     |   | December 31,  |
|                                           | 2010             |   | 2009          |    | 2010   |   | 2009    |
|                                           | (in millions)    |   | (in millions) |
| Change in benefit obligation                   |             |   |          |    |   |   |    |
| Benefit obligation at beginning of year        | $                | 619.6  |          |    | $      | 565.2  |    |   | $      | 507.1   |   |   | $ | 514.9   |   |
| Service cost                                   | 4.9              |   |          | 5.2     |   |   | 1.0     |   |   | 2.3     |   |
| Interest cost                                  | 36.8             |   |          | 36.1    |   |   | 16.1    |   |   | 17.8    |   |
| Plan amendments                                | 4.4              |   |          | — |   |   | — |   |   | (6.6    | )      |
| Actuarial loss                                 | 35.3             |   |          | 42.2    |   |   | 25.4    |   |   | 8.6     |   |
| Change in GM portion of OPEB obligation        | —          |   |          | — |   |   | 25.1    |   |   | 8.2     |   |
| Participant contributions                      | 0.7              |   |          | 0.7     |   |   | — |   |   | — |   |
| Special and contractual termination benefits   | —          |   |          | 2.5     |   |   | — |   |   | (0.7    | )      |
| Curtailments                                   | 0.1              |   |          | (0.6    | )      |   | — |   |   | (21.3   | )      |
| Benefit payments                               | (33.6            | )      |          | (39.3   | )      |   | (10.4   | )      |   | (16.1   | )      |
| Currency fluctuations                          | (2.8             | )      |          | 7.6     |   |   | — |   |   | — |   |
| Net change                                     | 45.8             |   |          | 54.4    |   |   | 57.2    |   |   | (7.8    | )      |
| Benefit obligation at end of year              | $                | 665.4  |          |    | $      | 619.6  |    |   | $      | 564.3   |   |   | $ | 507.1   |   |
|                                           |             |   |          |    |   |   |    |
| Change in plan assets                          |             |   |          |    |   |   |    |
| Fair value of plan assets at beginning of year | $                | 358.7  |          |    | $      | 310.7  |    |   | $      | — |   |   | $ | — |   |
| Actual return on plan assets                   | 44.7             |   |          | 55.5    |   |   | — |   |   | — |   |
| Employer contributions                         | 44.0             |   |          | 24.9    |   |   | 10.4    |   |   | 16.1    |   |
| Participant contributions                      | 0.7              |   |          | 0.7     |   |   | — |   |   | — |   |
| Benefit payments                               | (33.6            | )      |          | (39.3   | )      |   | (10.4   | )      |   | (16.1   | )      |
| Currency fluctuations                          | (2.1             | )      |          | 6.2     |   |   | — |   |   | — |   |
| Net change                                     | 53.7             |   |          | 48.0    |   |   | — |   |   | — |   |
| Fair value of plan assets at end of year       | $                | 412.4  |          |    | $      | 358.7  |    |   | $      | — |   |   | $ | — |   |

|                        |                  |        |               |        |      |        |        |        |        |        |   |        |   |        |   |
|------------------------|------------------|--------|---------------|--------|------|--------|--------|--------|--------|--------|---|--------|---|--------|---|
|                   | Pension Benefits |   | OPEB          |
|                   | December 31,     |   | December 31,  |
|                   | 2010             |   | 2009          |   | 2010 |   | 2009   |
|                   | (in millions)    |   | (in millions) |
| Current liabilities    | $                | (1.2   | )             |   | $    | (0.8   | )      |   | $      | (28.8  | ) |   | $ | (26.9  | ) |
| Noncurrent liabilities | (251.8           | )      |          | (260.1 | )    |   | (535.5 | )      |   | (480.2 | ) |
| Net liability          | $                | (253.0 | )             |   | $    | (260.9 | )      |   | $      | (564.3 | ) |   | $ | (507.1 | ) |

----

|                           |                  |        |               |        |        |        |      |        |        |      |        |        |   |      |        |
|---------------------------|------------------|--------|---------------|--------|--------|--------|------|--------|--------|------|--------|--------|---|------|--------|
|                      | Pension Benefits |   | OPEB          |
|                      | December 31,     |   | December 31,  |
|                      | 2010             |   | 2009          |   | 2010   |   | 2009 |
|                      | (in millions)    |   | (in millions) |
| Net actuarial gain (loss) | $                | (171.2 | )             |   | $      | (152.1 | )    |   | $      | 9.2  |   |   | $ | 35.9 |   |
| Net prior service credit  | 1.0              |   |          | 1.0    |   |   | 28.8 |   |   | 31.9 |   |
| Total amounts recorded    | $                | (170.2 | )             |   | $      | (151.1 | )    |   | $      | 38.0 |   |   | $ | 67.8 |   |

|                                                    |                  |        |               |        |        |        |         |        |        |         |        |        |         |        |        |         |        |       |        |        |   |       |        |
|----------------------------------------------------|------------------|--------|---------------|--------|--------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|---------|--------|-------|--------|--------|---|-------|--------|
|                                               | Pension Benefits |   | OPEB          |
|                                               | 2010             |   | 2009          |   | 2008   |   | 2010    |   | 2009   |    | 2008   |
|                                               | (in millions)    |   | (in millions) |
| Service cost                                       | $                | 4.9    |          |   | $      | 5.2    |    |   | $      | 13.0    |   |   | $       | 1.0    |   |    | $      | 2.3   |   |   | $ | 14.4  |   |
| Interest cost                                      | 36.8             |   |          | 36.1   |   |   | 37.2    |   |   | 16.1    |   |   | 17.8    |   |   | 22.9    |   |
| Expected asset return                              | (31.8            | )      |          | (30.4  | )      |   | (38.6   | )      |   | — |   |   | — |   |   | — |   |
| Amortized actuarial loss (gain)                    | 2.5              |   |          | 1.3    |   |   | 0.2     |   |   | (1.4    | )      |   | (1.7    | )      |   | — |   |
| Amortized prior service cost (credit)              | —          |   |          | (0.1   | )      |   | 0.8     |   |   | (3.1    | )      |   | (5.4    | )      |   | (8.3    | )      |
| Special and contractual                            |             |   |          |   |   |   |    |   |   |    |   |
|      termination benefits | —          |   |          | 2.5    |   |   | 53.4    |   |   | — |   |   | (0.7    | )      |   | 11.0    |   |
| Curtailments                                       | 0.2              |   |          | (1.5   | )      |   | (1.0    | )      |   | — |   |   | (68.0   | )      |   | (75.0   | )      |
| Settlement                                         | —          |   |          | 0.4    |   |   | — |   |   | — |   |   | — |   |   | (9.4    | )      |
| Net periodic benefit cost (credit)                 | $                | 12.6   |          |   | $      | 13.5   |    |   | $      | 65.0    |   |   | $       | 12.6   |   |    | $      | (55.7 | )      |   | $ | (44.4 | )      |

----

|                         |        |        |        |        |            |        |           |        |         |        |            |         |        |        |           |
|-------------------------|--------|--------|--------|--------|------------|--------|-----------|--------|---------|--------|------------|---------|--------|--------|-----------|
|                    | U.S.   |   | U.K.   |
|                    |   |   | Target |   |       |   | Target    |
|                    | 2010   |   | 2009   |   | Allocation |   | 2010      |   | 2009    |   | Allocation |
| Equity securities       | 51.6   | %      |   | 50.5   | %          |   | 50% - 70% |   | 50.5    | %      |       | 51.7    | %      |   | 45% - 55% |
| Fixed income securities | 32.8   |   |   | 33.7   |       |   | 30% - 35% |   | 44.3    |   |       | 47.1    |   |   | 45% - 55% |
| Hedge funds             | 11.0   |   |   | 12.4   |       |   | 0% - 15%  |   | — |   |       | — |   |   | 0%        |
| Cash                    | 4.6    |   |   | 3.4    |       |   | 0% - 5%   |   | 5.2     |   |       | 1.2     |   |   | 0% - 5%   |
| Total                   | 100.0  | %      |   | 100.0  | %          |   |      |   | 100.0   | %      |       | 100.0   | %      |   |      |

----

|                                                                |        |               |        |         |         |         |         |         |        |        |         |        |        |   |       |        |
|----------------------------------------------------------------|--------|---------------|--------|---------|---------|---------|---------|---------|--------|--------|---------|--------|--------|---|-------|--------|
| December 31, 2010                                              |   |          |   |    |    |    |    |    |
| Asset Categories                                               |   | Level 1       |   | Level 2 |    | Level 3 |    | Total   |
|                                                           |   | (in millions) |
| Cash & Cash Equivalents                                    |   | $             | 19.5   |    |    | $       | — |    |   | $      | — |   |   | $ | 19.5  |   |
| Equity                                                         |   |          |   |    |    |    |    |    |
|     U.S. Large Cap                         |   | 68.2          |   |    | 2.6     |    |    | — |   |   | 70.8    |   |
|     U.S. Small/Mid Cap                     |   | 45.0          |   |    | 4.3     |    |    | — |   |   | 49.3    |   |
|     World Equity                           |   | 54.6          |   |    | 37.2    |    |    | — |   |   | 91.8    |   |
| Fixed Income Securities                                        |   |          |   |    |    |    |    |    |
|     Government & Agencies              |   | 44.1          |   |    | — |    |    | — |   |   | 44.1    |   |
|     Corporate Bonds - Investment Grade     |   | 59.8          |   |    | — |    |    | — |   |   | 59.8    |   |
|     Corporate Bonds - Non-investment Grade |   | 28.5          |   |    | — |    |    | — |   |   | 28.5    |   |
|     Emerging Market Debt                   |   | 9.0           |   |    | — |    |    | — |   |   | 9.0     |   |
|     Other                                  |   | 3.9           |   |    | — |    |    | — |   |   | 3.9     |   |
| Hedge Funds                                                    |   |          |   |    |    |    |    |    |
|     Multi Strategy Hedge Fund              |   | —       |   |    | — |    |    | 35.7    |   |   | 35.7    |   |
| Total Plan Assets                                              |   | $             | 332.6  |    |    | $       | 44.1    |    |   | $      | 35.7    |   |   | $ | 412.4 |   |
|                                                           |   |          |   |    |    |    |    |    |
| December 31, 2009                                              |   |          |   |    |    |    |    |    |
| Asset Categories                                               |   | Level 1       |   | Level 2 |    | Level 3 |    | Total   |
|                                                           |   | (in millions) |
| Cash & Cash Equivalents                                    |   | $             | 10.8   |    |    | $       | — |    |   | $      | — |   |   | $ | 10.8  |   |
| Equity                                                         |   |          |   |    |    |    |    |    |
|     U.S. Large Cap                         |   | 85.6          |   |    | 2.8     |    |    | — |   |   | 88.4    |   |
|     U.S. Small/Mid Cap                     |   | 23.5          |   |    | 3.5     |    |    | — |   |   | 27.0    |   |
|     World Equity                           |   | 34.0          |   |    | 32.5    |    |    | — |   |   | 66.5    |   |
| Fixed Income Securities                                        |   |          |   |    |    |    |    |    |
|     Government & Agencies              |   | 40.7          |   |    | — |    |    | — |   |   | 40.7    |   |
|     Corporate Bonds - Investment Grade     |   | 52.2          |   |    | — |    |    | — |   |   | 52.2    |   |
|     Corporate Bonds - Non-investment Grade |   | 18.7          |   |    | — |    |    | — |   |   | 18.7    |   |
|     Emerging Market Debt                   |   | 17.3          |   |    | — |    |    | — |   |   | 17.3    |   |
|     Other                                  |   | 1.8           |   |    | — |    |    | — |   |   | 1.8     |   |
| Hedge Funds                                                    |   |          |   |    |    |    |    |    |
|     Multi Strategy Hedge Fund              |   | —       |   |    | — |    |    | 35.3    |   |   | 35.3    |   |
| Total Plan Assets                                              |   | $             | 284.6  |    |    | $       | 38.8    |    |   | $      | 35.3    |   |   | $ | 358.7 |   |

----

|                                                     |               |        |        |        |        |      |        |
|-----------------------------------------------------|---------------|--------|--------|--------|--------|------|--------|
|                                                | December 31,  |
|                                                | 2010          |   | 2009   |
|                                                | (in millions) |
| Beginning balance                                   | $             | 35.3   |   |   | $      | 13.5 |   |
| Actual return on plan assets:                       |          |   |   |
| Relating to assets still held at the reporting date | 0.4           |   |   | 1.4    |   |
| Purchases, sales and settlements, net               | —       |   |   | 20.4   |   |
| Ending balance                                      | $             | 35.7   |   |   | $      | 35.3 |   |

----

|                             |                          |
|-----------------------------|--------------------------|
| 10.     | STOCK-BASED COMPENSATION |

|                                  |                                      |        |                        |         |        |        |
|----------------------------------|--------------------------------------|--------|------------------------|---------|--------|--------|
|                             |                                 |   |  Weighted-        |
|                             | Number of                            |   |  Average Exercise |
|                             | Shares                               |   | Price Per Share        |
|                             | (in millions, except per share data) |
| Outstanding at January 1, 2008   | 6.1                                  |   |                   | $       | 24.16  |   |
| Options granted                  | 0.3                                  |   |                   | 10.08   |   |
| Options exercised                | (0.1                                 | )      |                   | 11.47   |   |
| Options canceled                 | (0.3                                 | )      |                   | 23.45   |   |
| Outstanding at December 31, 2008 | 6.0                                  |   |                   | $       | 23.57  |   |
| Options granted                  | 0.1                                  |   |                   | 2.81    |   |
| Options exercised                | (0.2                                 | )      |                   | 4.26    |   |
| Options canceled                 | (0.3                                 | )      |                   | 22.84   |   |
| Outstanding at December 31, 2009 | 5.6                                  |   |                   | $       | 23.96  |   |
| Options granted                  | —                              |   |                   | — |   |
| Options exercised                | (0.2                                 | )      |                   | 6.94    |   |
| Options canceled                 | (0.4                                 | )      |                   | 17.37   |   |
| Outstanding at December 31, 2010 | 5.0                                  |   |                   | $       | 25.01  |   |
|                             |                                 |   |                   |
| Exercisable at December 31, 2008 | 5.4                                  |   |                   | $       | 24.42  |   |
| Exercisable at December 31, 2009 | 5.1                                  |   |                   | $       | 25.05  |   |
| Exercisable at December 31, 2010 | 4.8                                  |   |                   | $       | 25.75  |   |

----

|                 |        |                                      |        |                  |            |                  |                                      |               |        |                  |        |         |        |        |        |         |        |
|-----------------|--------|--------------------------------------|--------|------------------|------------|------------------|--------------------------------------|---------------|--------|------------------|--------|---------|--------|--------|--------|---------|--------|
|            |   |                                 |   | Weighted-        |       |             |                                 |          |   | Weighted-        |
| Range of        |   | Stock Options                        |   | Average Exercise |       | Weighted-Average |                                 | Stock Options |   | Average Exercise |
| Exercise Prices |   | Outstanding                          |   | Price Per Share  |       | Contractual Life |                                 | Exercisable   |   | Price Per Share  |
|            |   | (in millions, except per share data) |   |             | (in years) |             | (in millions, except per share data) |
| $2.81           |   | 0.1                                  |   |             | $          | 2.81             |                                 |          | 8.0    |             |   | — |   |   | $      | — |   |
| $8.85           |   | 0.3                                  |   |             | 8.85       |             |                                 | 0.3           |   |             | 0.3    |    |   | 8.85   |   |
| $10.08 - $15.58 |   | 0.7                                  |   |             | 13.22      |             |                                 | 5.7           |   |             | 0.6    |    |   | 13.70  |   |
| $19.54 - $23.73 |   | 1.1                                  |   |             | 23.66      |             |                                 | 2.1           |   |             | 1.1    |    |   | 23.66  |   |
| $24.15 - $27.00 |   | 1.6                                  |   |             | 25.01      |             |                                 | 2.7           |   |             | 1.6    |    |   | 25.01  |   |
| $32.13 - $40.83 |   | 1.2                                  |   |             | 38.56      |             |                                 | 3.1           |   |             | 1.2    |    |   | 38.56  |   |
|            |   | 5.0                                  |   |             | $          | 25.01            |                                 |          | 3.0    |             |   | 4.8     |   |   | $      | 25.75   |   |

|                                        |         |        |        |         |        |      |        |
|----------------------------------------|---------|--------|--------|---------|--------|------|--------|
|                                   | 2009    |   | 2008   |
| Expected volatility                    | 64.32   | %      |   | 46.10   | %      |
| Risk-free interest rate                | 2.07    | %      |   | 3.78    | %      |
| Dividend yield                         | 2.85    | %      |   | 6.20    | %      |
| Expected life of options               | 8 years |   |   | 8 years |   |
| Weighted-average grant-date fair value | $       | 1.40   |   |    | $      | 2.67 |   |

----

|                                   |                                      |        |                      |         |        |        |
|-----------------------------------|--------------------------------------|--------|----------------------|---------|--------|--------|
|                              |                                 |   | Weighted Average     |
|                              | Number of                            |   | Grant Date Fair      |
|                              | Shares/Units                         |   | Value per Share/Unit |
|                              | (in millions, except per share data) |
| Outstanding at January 1, 2008    | 2.3                                  |   |                 | $       | 22.33  |   |
|     Granted   | 1.0                                  |   |                 | 18.87   |   |
|     Vested    | (0.2                                 | )      |                 | 22.59   |   |
|     Cancelled | (0.2                                 | )      |                 | 21.87   |   |
| Outstanding at December 31, 2008  | 2.9                                  |   |                 | $       | 21.17  |   |
|     Granted   | 1.3                                  |   |                 | 2.81    |   |
|     Vested    | (0.7                                 | )      |                 | 18.36   |   |
|     Cancelled | (0.2                                 | )      |                 | 19.78   |   |
| Outstanding at December 31, 2009  | 3.3                                  |   |                 | $       | 14.77  |   |
|     Granted   | —                              |   |                 | — |   |
|     Vested    | (0.4                                 | )      |                 | 23.42   |   |
|     Cancelled | (0.1                                 | )      |                 | 14.54   |   |
| Outstanding at December 31, 2010  | 2.8                                  |   |                 | $       | 13.48  |   |

----

|                             |              |
|-----------------------------|--------------|
| 11.     | INCOME TAXES |

|                                         |               |        |        |        |        |        |      |        |   |          |   |
|-----------------------------------------|---------------|--------|--------|--------|--------|--------|------|--------|---|----------|---|
|                                    | 2010          |   | 2009   |   | 2008   |
|                                    | (in millions) |
| U.S. loss                               | $             | (13.4  | )      |   | $      | (364.0 | )    |   | $ | (1,168.4 | ) |
| Non - U.S. income                       | 132.2         |   |   | 66.9   |   |   | 47.1 |   |
| Total income (loss) before income taxes | $             | 118.8  |   |   | $      | (297.1 | )    |   | $ | (1,121.3 | ) |

|                                    |               |        |        |        |        |        |        |        |   |       |        |
|------------------------------------|---------------|--------|--------|--------|--------|--------|--------|--------|---|-------|--------|
|                               | 2010          |   | 2009   |   | 2008   |
|                               | (in millions) |
| Current                            |          |   |   |   |   |
| Federal                            | $             | 6.0    |   |   | $      | 6.0    |   |   | $ | 6.0   |   |
| Other state and local              | 1.4           |   |   | 0.5    |   |   | 1.4    |   |
| Foreign                            | 5.5           |   |   | 17.3   |   |   | 7.7    |   |
| Total current                      | $             | 12.9   |   |   | $      | 23.8   |   |   | $ | 15.1  |   |
|                               |          |   |   |   |   |
| Deferred                           |          |   |   |   |   |
| Federal                            | $             | (6.0   | )      |   | $      | (64.7  | )      |   | $ | 74.7  |   |
| Other state and local              | 0.5           |   |   | (0.6   | )      |   | 3.8    |   |
| Foreign                            | (3.1          | )      |   | (2.3   | )      |   | 9.7    |   |
| Total deferred                     | (8.6          | )      |   | (67.6  | )      |   | 88.2   |   |
| Total income tax expense (benefit) | $             | 4.3    |   |   | $      | (43.8  | )      |   | $ | 103.3 |   |

|                                         |         |         |        |        |        |        |         |         |
|-----------------------------------------|---------|---------|--------|--------|--------|--------|---------|---------|
|                                    | 2010    |    | 2009   |   | 2008   |
| Federal statutory                       | 35.0    |  % |   | 35.0   | %      |   | 35.0    |  % |
| Foreign income taxes                    | (42.9   | )       |   | 11.6   |   |   | 2.2     |    |
| State and local                         | 1.6     |    |   | 0.1    |   |   | — |    |
| Valuation allowance                     | (39.3   | )       |   | (10.2  | )      |   | (44.8   | )       |
| U.S. tax on unremitted foreign earnings | 49.6    |    |   | (33.2  | )      |   | — |    |
| NOL carryback refund                    | — |    |   | 16.4   |   |   | — |    |
| Other                                   | (0.4    | )       |   | (5.0   | )      |   | (1.6    | )       |
| Effective income tax rate               | 3.6     |  % |   | 14.7   | %      |   | (9.2    | )%      |

----

|                                             |               |        |        |        |        |      |        |
|---------------------------------------------|---------------|--------|--------|--------|--------|------|--------|
|                                        | December 31,  |
|                                        | 2010          |   | 2009   |
|                                        | (in millions) |
| Current deferred tax assets                 |          |   |   |
| Employee benefits                           | $             | 14.8   |   |   | $      | 12.9 |   |
| Inventory                                   | 7.7           |   |   | 6.6    |   |
| Deferred revenue                            | 22.7          |   |   | 21.7   |   |
| Prepaid taxes and other                     | 6.4           |   |   | 6.8    |   |
| Valuation allowance                         | (41.2         | )      |   | (42.1  | )      |
| Total current deferred tax assets           | $             | 10.4   |   |   | $      | 5.9  |   |
|                                        |          |   |   |
| Current deferred tax liabilities            |          |   |   |
| Unrealized foreign exchange gain and other  | (11.3         | )      |   | (4.4   | )      |
| Current deferred tax asset (liability), net | $             | (0.9   | )      |   | $      | 1.5  |   |

|                                                   |               |         |        |        |        |         |        |
|---------------------------------------------------|---------------|---------|--------|--------|--------|---------|--------|
|                                              | December 31,  |
|                                              | 2010          |    | 2009   |
|                                              | (in millions) |
|                                              |          |    |   |
| U.S. federal and state deferred tax asset, net    | $             | — |   |   | $      | — |   |
| Other foreign deferred tax asset (liability), net | (0.9          | )       |   | 1.5    |   |
| Current deferred tax asset (liability), net       | $             | (0.9    | )      |   | $      | 1.5     |   |

----

|                                         |               |        |        |        |        |       |        |
|-----------------------------------------|---------------|--------|--------|--------|--------|-------|--------|
|                                    | December 31,  |
|                                    | 2010          |   | 2009   |
|                                    | (in millions) |
| Noncurrent deferred tax assets          |          |   |   |
| Employee benefits                       | $             | 235.1  |   |   | $      | 249.6 |   |
| NOL carryforwards                       | 152.1         |   |   | 164.6  |   |
| Tax credit carryforwards                | 101.9         |   |   | 99.9   |   |
| Capital allowance carryforwards         | 22.7          |   |   | 24.6   |   |
| Fixed assets                            | 30.5          |   |   | 33.1   |   |
| Deferred revenue                        | 34.8          |   |   | 59.2   |   |
| Capitalized expenditures                | 62.8          |   |   | 75.1   |   |
| Other                                   | 9.4           |   |   | 4.4    |   |
| Valuation allowances                    | (519.7        | )      |   | (517.6 | )      |
| Noncurrent deferred tax assets          | 129.6         |   |   | 192.9  |   |
| Noncurrent deferred tax liabilities     |          |   |   |
| U.S. tax on unremitted foreign earnings | (91.0         | )      |   | (118.8 | )      |
| Fixed assets and other                  | (6.6          | )      |   | (52.0  | )      |
| Noncurrent deferred tax asset, net      | $             | 32.0   |   |   | $      | 22.1  |   |

|                                                   |               |        |        |        |   |      |        |
|---------------------------------------------------|---------------|--------|--------|--------|---|------|--------|
|                                              | December 31,  |
|                                              | 2010          |   | 2009   |
|                                              | (in millions) |
| U.S. federal and state deferred tax asset, net    | $             | 27.7   |   |   | $ | 22.2 |   |
| Other foreign deferred tax asset (liability), net | 4.3           |   |   | (0.1   | ) |
| Noncurrent deferred tax asset, net                | $             | 32.0   |   |   | $ | 22.1 |   |

----

|                                        |                         |        |              |         |        |      |        |
|----------------------------------------|-------------------------|--------|--------------|---------|--------|------|--------|
|                                   | Unrecognized Income Tax |   | Interest and |
|                                   | Benefits                |   | Penalties    |
|                                   | (in millions)           |
| Balance at January 1, 2008             | $                       | 31.2   |         |    | $      | 1.8  |   |
| Increase in prior year tax positions   | 7.0                     |   |         | 3.6     |   |
| Decrease in prior year tax positions   | (1.7                    | )      |         | (0.2    | )      |
| Increase in current year tax positions | 4.4                     |   |         | — |   |
| Settlement                             | (0.3                    | )      |         | — |   |
| Balance at December 31, 2008           | $                       | 40.6   |         |    | $      | 5.2  |   |
| Increase in prior year tax positions   | 0.5                     |   |         | 4.1     |   |
| Decrease in prior year tax positions   | (1.2                    | )      |         | — |   |
| Increase in current year tax positions | 0.7                     |   |         | 6.0     |   |
| Balance at December 31, 2009           | $                       | 40.6   |         |    | $      | 15.3 |   |
| Increase in prior year tax positions   | 6.2                     |   |         | 6.1     |   |
| Decrease in prior year tax positions   | (0.2                    | )      |         | — |   |
| Increase in current year tax positions | 1.0                     |   |         | 0.3     |   |
| Settlement                             | —                 |   |         | (0.3    | )      |
| Balance at December 31, 2010           | $                       | 47.6   |         |    | $      | 21.4 |   |

----

|                             |                                 |
|-----------------------------|---------------------------------|
| 12.     | EARNINGS (LOSS) PER SHARE (EPS) |

|                                                            |                                      |        |        |         |        |        |         |        |   |          |   |
|------------------------------------------------------------|--------------------------------------|--------|--------|---------|--------|--------|---------|--------|---|----------|---|
|                                                       | 2010                                 |   | 2009   |    | 2008   |
|                                                       | (in millions, except per share data) |
| Numerator                                                  |                                 |   |   |    |   |
| Net income (loss) attributable to AAM                      | $                                    | 115.4  |   |    | $      | (253.1 | )       |   | $ | (1,224.3 | ) |
|                                                       |                                 |   |   |    |   |
| Denominators                                               |                                 |   |   |    |   |
| Basic shares outstanding -                                 |                                 |   |   |    |   |
| Weighted-average shares outstanding                        | 71.5                                 |   |   | 52.6    |   |   | 51.6    |   |
|                                                       |                                 |   |   |    |   |
| Effect of dilutive securities -                            |                                 |   |   |    |   |
| Dilutive stock options                                     | 0.1                                  |   |   | — |   |   | — |   |
| Dilutive warrants                                          | 2.9                                  |   |   | — |   |   | — |   |
|                                                       |                                 |   |   |    |   |
| Diluted shares outstanding -                               |                                 |   |   |    |   |
| Adjusted weighted-average shares after assumed conversions | 74.5                                 |   |   | 52.6    |   |   | 51.6    |   |
|                                                       |                                 |   |   |    |   |
| Basic EPS                                                  | $                                    | 1.61   |   |    | $      | (4.81  | )       |   | $ | (23.73   | ) |
|                                                       |                                 |   |   |    |   |
| Diluted EPS                                                | $                                    | 1.55   |   |    | $      | (4.81  | )       |   | $ | (23.73   | ) |

----

|                                        |               |        |        |        |        |     |        |
|----------------------------------------|---------------|--------|--------|--------|--------|-----|--------|
|                                   | December 31,  |
|                                   | 2010          |   | 2009   |
|                                   | (in millions) |
| Beginning balance                      | $             | 2.1    |   |   | $      | 2.6 |   |
| Accruals                               | 1.2           |   |   | 0.5    |   |
| Settlements                            | (0.5          | )      |   | (0.4   | )      |
| Adjustments to prior period accruals   | (0.4          | )      |   | (0.8   | )      |
| Foreign currency translation and other | (0.1          | )      |   | 0.2    |   |
| Ending balance                         | $             | 2.3    |   |   | $      | 2.1 |   |

----

|                         |               |         |        |        |        |         |        |        |   |         |        |
|-------------------------|---------------|---------|--------|--------|--------|---------|--------|--------|---|---------|--------|
|                    | December 31,  |
|                    | 2010          |    | 2009   |   | 2008   |
|                    | (in millions) |
| Net sales               |          |    |   |   |   |
| United States           | $             | 1,396.7 |   |   | $      | 979.7   |   |   | $ | 1,306.5 |   |
| Canada                  | 50.1          |    |   | 66.5   |   |    | 166.2  |   |
| Mexico                  | 638.0         |    |   | 371.6  |   |    | 469.2  |   |
| South America           | 99.5          |    |   | 34.9   |   |    | 51.0   |   |
| Other                   | 98.7          |    |   | 68.9   |   |    | 116.3  |   |
| Total net sales         | $             | 2,283.0 |   |   | $      | 1,521.6 |   |   | $ | 2,109.2 |   |
|                    |          |    |   |   |   |
| Long-lived assets       |          |    |   |   |   |
| United States           | $             | 816.2   |   |   | $      | 818.0   |   |   | $ | 939.1   |   |
| Mexico                  | 381.8         |    |   | 410.3  |   |    | 432.3  |   |
| South America           | 124.4         |    |   | 112.0  |   |    | 75.2   |   |
| Other                   | 151.6         |    |   | 102.2  |   |    | 85.2   |   |
| Total long-lived assets | $             | 1,474.0 |   |   | $      | 1,442.5 |   |   | $ | 1,531.8 |   |

----

|                                           |                                      |        |         |        |              |        |             |        |        |       |        |        |   |       |        |
|-------------------------------------------|--------------------------------------|--------|---------|--------|--------------|--------|-------------|--------|--------|-------|--------|--------|---|-------|--------|
|                                      | Three Months Ended,                  |
|                                      | March 31                             |   | June 30 |   | September 30 |   | December 31 |
|                                      | (in millions, except per share data) |
| 2010                                      |                                 |   |    |   |         |   |        |
| Net sales                                 | $                                    | 521.9  |    |   | $            | 559.6  |        |   | $      | 618.2 |   |   | $ | 583.3 |   |
| Gross profit                              | 87.3                                 |   |    | 98.9   |         |   | 113.9       |   |   | 101.6 |   |
| Net income                                | 16.2                                 |   |    | 25.3   |         |   | 38.7        |   |   | 34.3  |   |
| Net income attributable to AAM            | 16.3                                 |   |    | 25.4   |         |   | 38.8        |   |   | 34.9  |   |
| Basic EPS (2)                             | $                                    | 0.23   |    |   | $            | 0.36   |        |   | $      | 0.54  |   |   | $ | 0.49  |   |
| Diluted EPS (2)                           | $                                    | 0.22   |    |   | $            | 0.34   |        |   | $      | 0.52  |   |   | $ | 0.47  |   |
|                                      |                                 |   |    |   |         |   |        |
| 2009                                      |                                 |   |    |   |         |   |        |
| Net sales                                 | $                                    | 402.4  |    |   | $            | 245.6  |        |   | $      | 409.6 |   |   | $ | 464.0 |   |
| Gross profit (loss)                       | 27.1                                 |   |    | (215.1 | )            |   | 88.5        |   |   | 68.4  |   |
| Net income (loss)  (1)               | (32.7                                | )      |    | (288.7 | )            |   | 19.6        |   |   | 48.5  |   |
| Net income (loss) attributable to AAM (1) | (32.7                                | )      |    | (288.6 | )            |   | 19.6        |   |   | 48.6  |   |
| Basic EPS (2)                             | $                                    | (0.59  | )       |   | $            | (5.20  | )           |   | $      | 0.35  |   |   | $ | 0.83  |   |
| Diluted EPS (2)                           | $                                    | (0.59  | )       |   | $            | (5.20  | )           |   | $      | 0.35  |   |   | $ | 0.80  |   |

|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)    | Net loss and net loss attributable to AAM in the second quarter of 2009 included $172.8 million of charges related to asset impairments, indirect inventory obsolescence and idled leased assets and a $22.5 million charge related to acceleration of BDP expense.  Net income and net income attributable to AAM in the third quarter of 2009 included a $42.3 million gain related to the curtailment of certain pension and other postretirement benefits.  Net income and net income attributable to AAM in the fourth quarter of 2009 included a $48.8 million income tax benefit for a tax refund claim related to a special 5-year NOL carryback election. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (2)    | Full year basic and diluted EPS will not necessarily agree to the sum of the four quarters because each quarter is a separate calculation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

----

|                                                                           |               |         |          |         |            |        |         |        |              |         |        |        |         |         |        |        |   |         |        |
|---------------------------------------------------------------------------|---------------|---------|----------|---------|------------|--------|---------|--------|--------------|---------|--------|--------|---------|---------|--------|--------|---|---------|--------|
| Condensed Consolidating Statements of Operations                          |          |    |     |    |       |   |    |   |
|                                                                      |          |    |     |    |       |   |    |   |         |
| 2010                                                                      | Holdings      |    | AAM Inc. |    | All Others |   | Elims   |   | Consolidated |
|                                                                      | (in millions) |
| Net sales                                                                 |          |    |     |    |       |   |    |   |         |
|     External                                          | $             | — |     |    | $          | 623.6  |    |   | $            | 1,659.4 |   |   | $       | — |   |   | $ | 2,283.0 |   |
|     Intercompany                                      | —       |    |     | 26.0    |       |   | 175.7   |   |         | (201.7  | )      |   | — |    |
| Total net sales                                                           | —       |    |     | 649.6   |       |   | 1,835.1 |   |         | (201.7  | )      |   | 2,283.0 |    |
| Cost of goods sold                                                        | —       |    |     | 601.1   |       |   | 1,481.9 |   |         | (201.7  | )      |   | 1,881.3 |    |
| Gross profit                                                              | —       |    |     | 48.5    |       |   | 353.2   |   |         | — |   |   | 401.7   |    |
| Selling, general and administrative expenses                              | —       |    |     | 177.8   |       |   | 19.8    |   |         | — |   |   | 197.6   |    |
| Operating income (loss)                                                   | —       |    |     | (129.3  | )          |   | 333.4   |   |         | — |   |   | 204.1   |    |
| Non-operating income (expense), net                                       | —       |    |     | (88.6   | )          |   | 3.3     |   |         | — |   |   | (85.3   | )       |
| Income (loss) before income taxes                                         | —       |    |     | (217.9  | )          |   | 336.7   |   |         | — |   |   | 118.8   |    |
| Income tax expense                                                        | —       |    |     | 1.5     |       |   | 2.8     |   |         | — |   |   | 4.3     |    |
| Earnings from equity in subsidiaries                                      | 115.4         |    |     | 152.5   |       |   | — |   |         | (267.9  | )      |   | — |    |
| Net income (loss) before royalties and dividends                          | 115.4         |    |     | (66.9   | )          |   | 333.9   |   |         | (267.9  | )      |   | 114.5   |    |
| Royalties and dividends                                                   | —       |    |     | 182.3   |       |   | (182.3  | )      |         | — |   |   | — |    |
| Net income after royalties and dividends                                  | 115.4         |    |     | 115.4   |       |   | 151.6   |   |         | (267.9  | )      |   | 114.5   |    |
|     Net loss attributable to noncontrolling interests | —       |    |     | — |       |   | 0.9     |   |         | — |   |   | 0.9     |    |
| Net income attributable to AAM                                            | $             | 115.4   |     |    | $          | 115.4  |    |   | $            | 152.5   |   |   | $       | (267.9  | )      |   | $ | 115.4   |   |

----

|                                                                           |          |          |          |          |            |          |         |        |              |         |        |        |          |         |        |        |   |          |        |
|---------------------------------------------------------------------------|----------|----------|----------|----------|------------|----------|---------|--------|--------------|---------|--------|--------|----------|---------|--------|--------|---|----------|--------|
|                                                                      |     |     |     |     |       |     |    |   |         |
| 2009                                                                      | Holdings |     | AAM Inc. |     | All Others |     | Elims   |   | Consolidated |
| Net sales                                                                 |     |     |     |     |       |     |    |   |         |
| External                                                                  | $        | —  |     |     | $          | 514.5    |    |   | $            | 1,007.1 |   |   | $        | — |   |   | $ | 1,521.6  |   |
| Intercompany                                                              | —  |     |     | 25.4     |       |     | 105.2   |   |         | (130.6  | )      |   | —  |    |
| Total net sales                                                           | —  |     |     | 539.9    |       |     | 1,112.3 |   |         | (130.6  | )      |   | 1,521.6  |    |
| Cost of goods sold                                                        | —  |     |     | 656.7    |       |     | 1,026.6 |   |         | (130.6  | )      |   | 1,552.7  |    |
| Gross profit (loss)                                                       | —  |     |     | (116.8   | )          |     | 85.7    |   |         | — |   |   | (31.1    | )       |
| Selling, general and administrative expenses                              | —  |     |     | 163.0    |       |     | 9.7     |   |         | — |   |   | 172.7    |    |
| Operating income (loss)                                                   | —  |     |     | (279.8   | )          |     | 76.0    |   |         | — |   |   | (203.8   | )       |
| Non-operating income (expense), net                                       | —  |     |     | (95.5    | )          |     | 2.2     |   |         | — |   |   | (93.3    | )       |
| Income (loss) before income taxes                                         | —  |     |     | (375.3   | )          |     | 78.2    |   |         | — |   |   | (297.1   | )       |
| Income tax expense (benefit)                                              | —  |     |     | (59.5    | )          |     | 15.7    |   |         | — |   |   | (43.8    | )       |
| Earnings (loss) from equity in subsidiaries                               | (253.1   | )        |     | 17.5     |       |     | — |   |         | 235.6   |   |   | —  |    |
| Net income (loss) before royalties and dividends                          | (253.1   | )        |     | (298.3   | )          |     | 62.5    |   |         | 235.6   |   |   | (253.3   | )       |
| Royalties and dividends                                                   | —  |     |     | 45.2     |       |     | (45.2   | )      |         | — |   |   | —  |    |
| Net loss after royalties and dividends                                    | (253.1   | )        |     | (253.1   | )          |     | 17.3    |   |         | 235.6   |   |   | (253.3   | )       |
| Net loss attributable to noncontrolling interests                         | —  |     |     | —  |       |     | 0.2     |   |         | — |   |   | 0.2      |    |
| Net income (loss) attributable to AAM                                     | $        | (253.1   | )        |     | $          | (253.1   | )       |   | $            | 17.5    |   |   | $        | 235.6   |   |   | $ | (253.1   | )      |
|                                                                      |     |     |     |     |       |     |    |   |         |
| 2008                                                                      | Holdings |     | AAM Inc. |     | All Others |     | Elims   |   | Consolidated |
| Net sales                                                                 |     |     |     |     |       |     |    |   |         |
| External                                                                  | $        | —  |     |     | $          | 952.6    |    |   | $            | 1,156.6 |   |   | $        | — |   |   | $ | 2,109.2  |   |
| Intercompany                                                              | —  |     |     | 43.1     |       |     | 72.5    |   |         | (115.6  | )      |   | —  |    |
| Total net sales                                                           | —  |     |     | 995.7    |       |     | 1,229.1 |   |         | (115.6  | )      |   | 2,109.2  |    |
| Cost of goods sold                                                        | —  |     |     | 1,896.4  |       |     | 1,193.6 |   |         | (115.6  | )      |   | 2,974.4  |    |
| Gross profit (loss)                                                       | —  |     |     | (900.7   | )          |     | 35.5    |   |         | — |   |   | (865.2   | )       |
| Selling, general and administrative expenses                              | —  |     |     | 181.3    |       |     | 4.1     |   |         | — |   |   | 185.4    |    |
| Operating income (loss)                                                   | —  |     |     | (1,082.0 | )          |     | 31.4    |   |         | — |   |   | (1,050.6 | )       |
| Non-operating expense, net                                                | —  |     |     | (65.8    | )          |     | (4.9    | )      |         | — |   |   | (70.7    | )       |
| Income (loss) before income taxes                                         | —  |     |     | (1,147.8 | )          |     | 26.5    |   |         | — |   |   | (1,121.3 | )       |
| Income tax expense (benefit)                                              | —  |     |     | 107.3    |       |     | (4.0    | )      |         | — |   |   | 103.3    |    |
| Loss from equity in subsidiaries                                          | (1,224.3 | )        |     | (19.2    | )          |     | — |   |         | 1,243.5 |   |   | —  |    |
| Net income (loss) before royalties and dividends                          | (1,224.3 | )        |     | (1,274.3 | )          |     | 30.5    |   |         | 1,243.5 |   |   | (1,224.6 | )       |
| Royalties and dividends                                                   | —  |     |     | 50.0     |       |     | (50.0   | )      |         | — |   |   | —  |    |
| Net loss after royalties and dividends                                    | (1,224.3 | )        |     | (1,224.3 | )          |     | (19.5   | )      |         | 1,243.5 |   |   | (1,224.6 | )       |
|     Net loss attributable to noncontrolling interests | —  |     |     | —  |       |     | 0.3     |   |         | — |   |   | 0.3      |    |
| Net loss attributable to AAM                                              | $        | (1,224.3 | )        |     | $          | (1,224.3 | )       |   | $            | (19.2   | )      |   | $        | 1,243.5 |   |   | $ | (1,224.3 | )      |

----

|                                                      |               |         |          |         |            |         |         |        |              |         |        |        |         |         |        |        |   |         |        |
|------------------------------------------------------|---------------|---------|----------|---------|------------|---------|---------|--------|--------------|---------|--------|--------|---------|---------|--------|--------|---|---------|--------|
| Condensed Consolidating Balance Sheets               |          |    |     |    |       |    |    |   |         |
| 2010                                                 | Holdings      |    | AAM Inc. |    | All Others |    | Elims   |   | Consolidated |
| Assets                                               | (in millions) |
| Current assets                                       |          |    |     |    |       |    |    |   |         |
| Cash and cash equivalents                            | $             | — |     |    | $          | 67.6    |    |   | $            | 177.0   |   |   | $       | — |   |   | $ | 244.6   |   |
| Accounts receivable, net                             | —       |    |     | 18.4    |       |    | 128.2   |   |         | — |   |   | 146.6   |    |
| Inventories, net                                     | —       |    |     | 34.8    |       |    | 95.5    |   |         | — |   |   | 130.3   |    |
| Other current assets                                 | —       |    |     | 35.6    |       |    | 45.0    |   |         | — |   |   | 80.6    |    |
| Total current assets                                 | —       |    |     | 156.4   |       |    | 445.7   |   |         | — |   |   | 602.1   |    |
| Property, plant and equipment, net                   | —       |    |     | 259.6   |       |    | 676.7   |   |         | — |   |   | 936.3   |    |
| Goodwill                                             | —       |    |     | — |       |    | 155.8   |   |         | — |   |   | 155.8   |    |
| Other assets and deferred charges                    | —       |    |     | 329.8   |       |    | 90.7    |   |         | — |   |   | 420.5   |    |
| Investment in subsidiaries                           | —       |    |     | 887.7   |       |    | — |   |         | (887.7  | )      |   | — |    |
| Total assets                                         | $             | — |     |    | $          | 1,633.5 |    |   | $            | 1,368.9 |   |   | $       | (887.7  | )      |   | $ | 2,114.7 |   |
| Liabilities and stockholders' equity (deficit)       |          |    |     |    |       |    |    |   |         |
| Current liabilities                                  |          |    |     |    |       |    |    |   |         |
| Accounts payable                                     | $             | — |     |    | $          | 76.4    |    |   | $            | 207.2   |   |   | $       | — |   |   | $ | 283.6   |   |
| Other current liabilities                            | —       |    |     | 209.9   |       |    | 75.6    |   |         | — |   |   | 285.5   |    |
| Total current liabilities                            | —       |    |     | 286.3   |       |    | 282.8   |   |         | — |   |   | 569.1   |    |
| Intercompany payable (receivable)                    | 320.1         |    |     | (395.3  | )          |    | 75.2    |   |         | — |   |   | — |    |
| Long-term debt                                       | 0.4           |    |     | 970.2   |       |    | 39.4    |   |         | — |   |   | 1,010.0 |    |
| Investment in subsidiaries obligation                | 159.0         |    |     | — |       |    | — |   |         | (159.0  | )      |   | — |    |
| Other long-term liabilities                          | —       |    |     | 931.3   |       |    | 72.4    |   |         | — |   |   | 1,003.7 |    |
| Total liabilities                                    | 479.5         |    |     | 1,792.5 |       |    | 469.8   |   |         | (159.0  | )      |   | 2,582.8 |    |
| Total AAM Stockholders' equity (deficit)             | (479.5        | )       |     | (159.0  | )          |    | 887.7   |   |         | (728.7  | )      |   | (479.5  | )       |
| Noncontrolling interests in subsidiaries             | —       |    |     | — |       |    | 11.4    |   |         | — |   |   | 11.4    |    |
| Total stockholders' equity (deficit)                 | (479.5        | )       |     | (159.0  | )          |    | 899.1   |   |         | (728.7  | )      |   | (468.1  | )       |
| Total liabilities and stockholders' equity (deficit) | $             | — |     |    | $          | 1,633.5 |    |   | $            | 1,368.9 |   |   | $       | (887.7  | )      |   | $ | 2,114.7 |   |
|                                                 |          |    |     |    |       |    |    |   |         |
| 2009                                                 | Holdings      |    | AAM Inc. |    | All Others |    | Elims   |   | Consolidated |
| Assets                                               |          |    |     |    |       |    |    |   |         |
| Current assets                                       |          |    |     |    |       |    |    |   |         |
|   Cash and cash equivalents                | $             | — |     |    | $          | 80.6    |    |   | $            | 97.5    |   |   | $       | — |   |   | $ | 178.1   |   |
|   Short-term investments                   | —       |    |     | 1.4     |       |    | 2.8     |   |         | — |   |   | 4.2     |    |
|   Accounts receivable, net                 | —       |    |     | 10.9    |       |    | 118.8   |   |         | — |   |   | 129.7   |    |
|   Inventories, net                         | —       |    |     | 22.8    |       |    | 67.8    |   |         | — |   |   | 90.6    |    |
|   Other current assets                     | —       |    |     | 86.4    |       |    | 27.6    |   |         | — |   |   | 114.0   |    |
| Total current assets                                 | —       |    |     | 202.1   |       |    | 314.5   |   |         | — |   |   | 516.6   |    |
| Property, plant and equipment, net                   | —       |    |     | 272.8   |       |    | 673.9   |   |         | — |   |   | 946.7   |    |
| Goodwill                                             | —       |    |     | — |       |    | 147.8   |   |         | — |   |   | 147.8   |    |
| Other assets and deferred charges                    | —       |    |     | 304.8   |       |    | 70.9    |   |         | — |   |   | 375.7   |    |
| Investment in subsidiaries                           | —       |    |     | 725.9   |       |    | — |   |         | (725.9  | )      |   | — |    |
| Total assets                                         | $             | — |     |    | $          | 1,505.6 |    |   | $            | 1,207.1 |   |   | $       | (725.9  | )      |   | $ | 1,986.8 |   |
| Liabilities and stockholders' equity (deficit)       |          |    |     |    |       |    |    |   |         |
| Current liabilities                                  |          |    |     |    |       |    |    |   |         |
| Accounts payable                                     | $             | — |     |    | $          | 59.4    |    |   | $            | 141.5   |   |   | $       | — |   |   | $ | 200.9   |   |
| Other current liabilities                            | —       |    |     | 185.1   |       |    | 59.5    |   |         | — |   |   | 244.6   |    |
| Total current liabilities                            | —       |    |     | 244.5   |       |    | 201.0   |   |         | — |   |   | 445.5   |    |
| Intercompany payable (receivable)                    | 318.8         |    |     | (470.1  | )          |    | 151.3   |   |         | — |   |   | — |    |
| Long-term debt                                       | 0.4           |    |     | 1,029.4 |       |    | 41.6    |   |         | — |   |   | 1,071.4 |    |
| Investment in subsidiaries obligation                | 241.0         |    |     | — |       |    | — |   |         | (241.0  | )      |   | — |    |
| Other long-term liabilities                          | —       |    |     | 942.8   |       |    | 87.0    |   |         | — |   |   | 1,029.8 |    |
| Total liabilities                                    | 560.2         |    |     | 1,746.6 |       |    | 480.9   |   |         | (241.0  | )      |   | 2,546.7 |    |
| Total AAM Stockholders' equity (deficit)             | (560.2        | )       |     | (241.0  | )          |    | 725.9   |   |         | (484.9  | )      |   | (560.2  | )       |
| Noncontrolling interests in subsidiaries             | —       |    |     | — |       |    | 0.3     |   |         | — |   |   | 0.3     |    |
| Total stockholders' equity (deficit)                 | (560.2        | )       |     | (241.0  | )          |    | 726.2   |   |         | (484.9  | )      |   | (559.9  | )       |
| Total liabilities and stockholders' equity (deficit) | $             | — |     |    | $          | 1,505.6 |    |   | $            | 1,207.1 |   |   | $       | (725.9  | )      |   | $ | 1,986.8 |   |

----

|                                                         |               |         |          |         |            |        |         |        |              |         |        |        |         |         |        |        |   |       |        |
|---------------------------------------------------------|---------------|---------|----------|---------|------------|--------|---------|--------|--------------|---------|--------|--------|---------|---------|--------|--------|---|-------|--------|
| Condensed Consolidating Statements of Cash Flows        |          |    |     |    |       |   |    |   |         |
| 2010                                                    | Holdings      |    | AAM Inc. |    | All Others |   | Elims   |   | Consolidated |    |
|                                                    | (in millions) |
| Net cash provided by (used in) operating activities     | $             | — |     |    | $          | (5.9   | )       |   | $            | 246.2   |   |   | $       | — |   |   | $ | 240.3 |   |
| Investing activities                                    |          |    |     |    |       |   |    |   |         |
| Purchases of property, plant and equipment              | —       |    |     | (30.8   | )          |   | (77.5   | )      |         | — |   |   | (108.3  | )       |
| Proceeds from sale of equipment                         | —       |    |     | 1.7     |       |   | 3.2     |   |         | — |   |   | 4.9     |    |
| Redemption of short-term investments                    | —       |    |     | 1.6     |       |   | 4.8     |   |         | — |   |   | 6.4     |    |
| Purchase buyouts of leased equipment                    | —       |    |     | (7.8    | )          |   | — |   |         | — |   |   | (7.8    | )       |
| Acquisition, net                                        | —       |    |     | — |       |   | (2.2    | )      |         | — |   |   | (2.2    | )       |
| Net cash used in investing activities                   | —       |    |     | (35.3   | )          |   | (71.7   | )      |         | — |   |   | (107.0  | )       |
| Financing activities                                    |          |    |     |    |       |   |    |   |         |
| Net debt activity                                       | —       |    |     | (59.2   | )          |   | (2.7    | )      |         | — |   |   | (61.9   | )       |
| Intercompany activity                                   | 1.3           |    |     | 88.5    |       |   | (89.8   | )      |         | — |   |   | — |    |
| Debt issuance costs                                     | —       |    |     | (2.2    | )          |   | — |   |         | — |   |   | (2.2    | )       |
| Employee stock option exercises                         | —       |    |     | 1.1     |       |   | — |   |         | — |   |   | 1.1     |    |
| Purchase of treasury stock                              | (1.3          | )       |     | — |       |   | — |   |         | — |   |   | (1.3    | )       |
| Purchase of noncontrolling interest                     | —       |    |     | — |       |   | (2.1    | )      |         | — |   |   | (2.1    | )       |
| Net cash provided by (used in) financing activities     | —       |    |     | 28.2    |       |   | (94.6   | )      |         | — |   |   | (66.4   | )       |
| Effect of exchange rate changes on cash                 | —       |    |     | — |       |   | (0.4    | )      |         | — |   |   | (0.4    | )       |
| Net increase (decrease) in cash and cash equivalents    | —       |    |     | (13.0   | )          |   | 79.5    |   |         | — |   |   | 66.5    |    |
| Cash and cash equivalents at beginning of period        | —       |    |     | 80.6    |       |   | 97.5    |   |         |    |   | 178.1  |    |
| Cash and cash equivalents at end of period              | $             | — |     |    | $          | 67.6   |    |   | $            | 177.0   |   |   | $       | — |   |   | $ | 244.6 |   |
|                                                    |          |    |     |    |       |   |    |   |         |
| 2009                                                    | Holdings      |    | AAM Inc. |    | All Others |   | Elims   |   | Consolidated |    |
|                                                    |          |    |     |    |       |   |    |   |         |
| Net cash provided by (used in) operating activities     | $             | — |     |    | $          | (160.1 | )       |   | $            | 176.0   |   |   | $       | — |   |   | $ | 15.9  |   |
| Investing activities                                    |          |    |     |    |       |   |    |   |         |
| Purchases of property, plant and equipment              | —       |    |     | (55.3   | )          |   | (82.4   | )      |         | — |   |   | (137.7  | )       |
| Proceeds from the sale of property, plant and equipment | —       |    |     | 1.4     |       |   | 0.3     |   |         | — |   |   | 1.7     |    |
| Redemption of short-term investments                    | —       |    |     | 7.9     |       |   | 63.7    |   |         | — |   |   | 71.6    |    |
| Investment in joint venture                             | —       |    |     | — |       |   | (10.2   | )      |         | — |   |   | (10.2   | )       |
| Net cash used in investing activities                   | —       |    |     | (46.0   | )          |   | (28.6   | )      |         | — |   |   | (74.6   | )       |
| Financing activities                                    |          |    |     |    |       |   |    |   |         |
| Net debt activity                                       | —       |    |     | (65.4   | )          |   | (9.7    | )      |         | — |   |   | (75.1   | )       |
| Intercompany activity                                   | (139.1        | )       |     | 329.4   |       |   | (190.3  | )      |         | — |   |   | — |    |
| Debt issuance costs                                     | —       |    |     | (32.9   | )          |   | — |   |         | — |   |   | (32.9   | )       |
| Proceeds from issuance of common stock                  | 109.7         |    |     | — |       |   | — |   |         | — |   |   | 109.7   |    |
| Proceeds from issuance of warrants to GM                | 30.3          |    |     | — |       |   | — |   |         | — |   |   | 30.3    |    |
| Employee stock option exercises                         | —       |    |     | 1.0     |       |   | — |   |         | — |   |   | 1.0     |    |
| Purchase of treasury stock                              | (0.9          | )       |     | — |       |   | — |   |         | — |   |   | (0.9    | )       |
| Net cash provided by (used in) financing activities     | —       |    |     | 232.1   |       |   | (200.0  | )      |         | — |   |   | 32.1    |    |
| Effect of exchange rate changes on cash                 | —       |    |     | — |       |   | 5.9     |   |         | — |   |   | 5.9     |    |
| Net increase (decrease) in cash and cash equivalents    | —       |    |     | 26.0    |       |   | (46.7   | )      |         | — |   |   | (20.7   | )       |
| Cash and cash equivalents at beginning of period        | —       |    |     | 54.6    |       |   | 144.2   |   |         | — |   |   | 198.8   |    |
| Cash and cash equivalents at end of period              | $             | — |     |    | $          | 80.6   |    |   | $            | 97.5    |   |   | $       | — |   |   | $ | 178.1 |   |

----

|                                                      |          |         |          |         |            |        |         |        |              |         |        |        |         |         |        |        |   |        |        |
|------------------------------------------------------|----------|---------|----------|---------|------------|--------|---------|--------|--------------|---------|--------|--------|---------|---------|--------|--------|---|--------|--------|
| 2008                                                 | Holdings |    | AAM Inc. |    | All Others |   | Elims   |   | Consolidated |    |
|                                                 |     |    |     |    |       |   |    |   |         |
| Net cash provided by (used in) operating activities  | $        | — |     |    | $          | (329.7 | )       |   | $            | 166.6   |   |   | $       | — |   |   | $ | (163.1 | )      |
| Investing activities                                 |     |    |     |    |       |   |    |   |         |
| Purchases of property, plant and equipment           | —  |    |     | (54.5   | )          |   | (85.7   | )      |         | — |   |   | (140.2  | )       |
| Change in short-term investments                     | —  |    |     | (10.6   | )          |   | (66.5   | )      |         | — |   |   | (77.1   | )       |
| Proceeds from sale of property, plant and equipment  | —  |    |     | 2.1     |       |   | 1.3     |   |         | — |   |   | 3.4     |    |
| Other investing activities                           | —  |    |     | (10.7   | )          |   | (7.1    | )      |         | — |   |   | (17.8   | )       |
| Net cash used in investing activities                | —  |    |     | (73.7   | )          |   | (158.0  | )      |         | — |   |   | (231.7  | )       |
| Financing activities                                 |     |    |     |    |       |   |    |   |         |
| Net debt activity                                    | (2.3     | )       |     | 295.0   |       |   | (7.3    | )      |         | — |   |   | 285.4   |    |
| Intercompany activity                                | 20.7     |    |     | (48.0   | )          |   | 27.3    |   |         | — |   |   | — |    |
| Debt issuance costs                                  | —  |    |     | (13.4   | )          |   | — |   |         | — |   |   | (13.4   | )       |
| Payment of dividends                                 | (18.3    | )       |     | — |       |   | — |   |         | — |   |   | (18.3   | )       |
| Employee stock option exercises,                     |     |    |     |    |       |   |    |   |         |
| including tax benefit                                | —  |    |     | 0.9     |       |   | — |   |         | — |   |   | 0.9     |    |
| Purchase of treasury stock                           | (0.1     | )       |     | — |       |   | — |   |         | — |   |   | (0.1    | )       |
| Net cash provided by financing activities            | —  |    |     | 234.5   |       |   | 20.0    |   |         | — |   |   | 254.5   |    |
| Effect of exchange rate changes on cash              | —  |    |     | — |       |   | (4.5    | )      |         | — |   |   | (4.5    | )       |
| Net increase (decrease) in cash and cash equivalents | —  |    |     | (168.9  | )          |   | 24.1    |   |         | — |   |   | (144.8  | )       |
| Cash and cash equivalents at beginning of period     | —  |    |     | 223.5   |       |   | 120.1   |   |         | — |   |   | 343.6   |    |
| Cash and cash equivalents at end of period           | $        | — |     |    | $          | 54.6   |    |   | $            | 144.2   |   |   | $       | — |   |   | $ | 198.8  |   |

----

|                                                                           |               |         |          |         |                        |        |                            |        |        |         |              |        |         |         |        |         |        |         |        |        |   |         |        |
|---------------------------------------------------------------------------|---------------|---------|----------|---------|------------------------|--------|----------------------------|--------|--------|---------|--------------|--------|---------|---------|--------|---------|--------|---------|--------|--------|---|---------|--------|
| Condensed Consolidating Statements of Operations                          |          |    |     |    |                   |   |                       |   |   |    |
|                                                                      |          |    |     |    |                   |   |                       |   |   |    |         |
| 2010                                                                      | Holdings      |    | AAM Inc. |    | Guarantor Subsidiaries |   | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
|                                                                      | (in millions) |
| Net sales                                                                 |          |    |     |    |                   |   |                       |   |   |    |         |
|     External                                          | $             | — |     |    | $                      | 623.6  |                       |   | $      | 186.7   |         |   | $       | 1,472.7 |   |    | $      | — |   |   | $ | 2,283.0 |   |
|     Intercompany                                      | —       |    |     | 26.0    |                   |   | 160.9                      |   |   | 14.8    |         |   | (201.7  | )       |   | — |   |
| Total net sales                                                           | —       |    |     | 649.6   |                   |   | 347.6                      |   |   | 1,487.5 |         |   | (201.7  | )       |   | 2,283.0 |   |
| Cost of goods sold                                                        | —       |    |     | 601.1   |                   |   | 323.9                      |   |   | 1,158.0 |         |   | (201.7  | )       |   | 1,881.3 |   |
| Gross profit                                                              | —       |    |     | 48.5    |                   |   | 23.7                       |   |   | 329.5   |         |   | — |    |   | 401.7   |   |
| Selling, general and administrative expenses                              | —       |    |     | 177.8   |                   |   | —                    |   |   | 19.8    |         |   | — |    |   | 197.6   |   |
| Operating income (loss)                                                   | —       |    |     | (129.3  | )                      |   | 23.7                       |   |   | 309.7   |         |   | — |    |   | 204.1   |   |
| Non-operating income (expense), net                                       | —       |    |     | (88.6   | )                      |   | 0.3                        |   |   | 3.0     |         |   | — |    |   | (85.3   | )      |
| Income (loss) before income taxes                                         | —       |    |     | (217.9  | )                      |   | 24.0                       |   |   | 312.7   |         |   | — |    |   | 118.8   |   |
| Income tax expense                                                        | —       |    |     | 1.5     |                   |   | 0.3                        |   |   | 2.5     |         |   | — |    |   | 4.3     |   |
| Earnings (loss) from equity in subsidiaries                               | 115.4         |    |     | 152.5   |                   |   | (26.8                      | )      |   | — |         |   | (241.1  | )       |   | — |   |
| Net income (loss) before royalties and dividends                          | 115.4         |    |     | (66.9   | )                      |   | (3.1                       | )      |   | 310.2   |         |   | (241.1  | )       |   | 114.5   |   |
| Royalties and dividends                                                   | —       |    |     | 182.3   |                   |   | —                    |   |   | (182.3  | )            |   | — |    |   | — |   |
| Net income (loss) after royalties and dividends                           | 115.4         |    |     | 115.4   |                   |   | (3.1                       | )      |   | 127.9   |         |   | (241.1  | )       |   | 114.5   |   |
|     Net loss attributable to noncontrolling interests | —       |    |     | — |                   |   | —                    |   |   | 0.9     |         |   | — |    |   | 0.9     |   |
| Net income (loss) attributable to AAM                                     | $             | 115.4   |     |    | $                      | 115.4  |                       |   | $      | (3.1    | )            |   | $       | 128.8   |   |    | $      | (241.1  | )      |   | $ | 115.4   |   |

----

|                                                                           |          |          |          |          |                        |          |                            |        |        |         |              |        |         |         |        |          |        |         |        |        |   |          |        |
|---------------------------------------------------------------------------|----------|----------|----------|----------|------------------------|----------|----------------------------|--------|--------|---------|--------------|--------|---------|---------|--------|----------|--------|---------|--------|--------|---|----------|--------|
|                                                                      |     |     |     |     |                   |     |                       |   |   |    |         |
| 2009                                                                      | Holdings |     | AAM Inc. |     | Guarantor Subsidiaries |     | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
| Net sales                                                                 |     |     |     |     |                   |     |                       |   |   |    |         |
|     External                                          | $        | —  |     |     | $                      | 514.5    |                       |   | $      | 142.3   |         |   | $       | 864.8   |   |     | $      | — |   |   | $ | 1,521.6  |   |
|     Intercompany                                      | —  |     |     | 25.4     |                   |     | 92.9                       |   |   | 12.3    |         |   | (130.6  | )       |   | —  |   |
| Total net sales                                                           | —  |     |     | 539.9    |                   |     | 235.2                      |   |   | 877.1   |         |   | (130.6  | )       |   | 1,521.6  |   |
| Cost of goods sold                                                        | —  |     |     | 656.7    |                   |     | 271.8                      |   |   | 754.8   |         |   | (130.6  | )       |   | 1,552.7  |   |
| Gross profit (loss)                                                       | —  |     |     | (116.8   | )                      |     | (36.6                      | )      |   | 122.3   |         |   | — |    |   | (31.1    | )      |
| Selling, general and administrative expenses                              | —  |     |     | 163.0    |                   |     | —                    |   |   | 9.7     |         |   | — |    |   | 172.7    |   |
| Operating income (loss)                                                   | —  |     |     | (279.8   | )                      |     | (36.6                      | )      |   | 112.6   |         |   | — |    |   | (203.8   | )      |
| Non-operating income (expense), net                                       | —  |     |     | (95.5    | )                      |     | 2.9                        |   |   | (0.7    | )            |   | — |    |   | (93.3    | )      |
| Income (loss) before income taxes                                         | —  |     |     | (375.3   | )                      |     | (33.7                      | )      |   | 111.9   |         |   | — |    |   | (297.1   | )      |
| Income tax expense (benefit)                                              | —  |     |     | (59.5    | )                      |     | 0.2                        |   |   | 15.5    |         |   | — |    |   | (43.8    | )      |
| Earnings (loss) from equity in subsidiaries                               | (253.1   | )        |     | 17.5     |                   |     | (49.9                      | )      |   | — |         |   | 285.5   |    |   | —  |   |
| Net income (loss) before royalties and dividends                          | (253.1   | )        |     | (298.3   | )                      |     | (83.8                      | )      |   | 96.4    |         |   | 285.5   |    |   | (253.3   | )      |
| Royalties and dividends                                                   | —  |     |     | 45.2     |                   |     | —                    |   |   | (45.2   | )            |   | — |    |   | —  |   |
| Net income (loss) after royalties and dividends                           | (253.1   | )        |     | (253.1   | )                      |     | (83.8                      | )      |   | 51.2    |         |   | 285.5   |    |   | (253.3   | )      |
|     Net loss attributable to noncontrolling interests | —  |     |     | —  |                   |     | —                    |   |   | 0.2     |         |   | — |    |   | 0.2      |   |
| Net income (loss) attributable to AAM                                     | $        | (253.1   | )        |     | $                      | (253.1   | )                          |   | $      | (83.8   | )            |   | $       | 51.4    |   |     | $      | 285.5   |   |   | $ | (253.1   | )      |
|                                                                      |     |     |     |     |                   |     |                       |   |   |    |         |
| 2008                                                                      | Holdings |     | AAM Inc. |     | Guarantor Subsidiaries |     | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
| Net sales                                                                 |     |     |     |     |                   |     |                       |   |   |    |         |
| External                                                                  | $        | —  |     |     | $                      | 952.6    |                       |   | $      | 148.6   |         |   | $       | 1,008.0 |   |     | $      | — |   |   | $ | 2,109.2  |   |
| Intercompany                                                              | —  |     |     | 43.1     |                   |     | 64.8                       |   |   | 7.7     |         |   | (115.6  | )       |   | —  |   |
| Total net sales                                                           | —  |     |     | 995.7    |                   |     | 213.4                      |   |   | 1,015.7 |         |   | (115.6  | )       |   | 2,109.2  |   |
| Cost of goods sold                                                        | —  |     |     | 1,896.4  |                   |     | 292.6                      |   |   | 901.0   |         |   | (115.6  | )       |   | 2,974.4  |   |
| Gross profit (loss)                                                       | —  |     |     | (900.7   | )                      |     | (79.2                      | )      |   | 114.7   |         |   | — |    |   | (865.2   | )      |
| Selling, general and administrative expenses                              | —  |     |     | 181.3    |                   |     | —                    |   |   | 4.1     |         |   | — |    |   | 185.4    |   |
| Operating income (loss)                                                   | —  |     |     | (1,082.0 | )                      |     | (79.2                      | )      |   | 110.6   |         |   | — |    |   | (1,050.6 | )      |
| Non-operating expense, net                                                | —  |     |     | (65.8    | )                      |     | (0.4                       | )      |   | (4.5    | )            |   | — |    |   | (70.7    | )      |
| Income (loss) before income taxes                                         | —  |     |     | (1,147.8 | )                      |     | (79.6                      | )      |   | 106.1   |         |   | — |    |   | (1,121.3 | )      |
| Income tax expense (benefit)                                              | —  |     |     | 107.3    |                   |     | (21.5                      | )      |   | 17.5    |         |   | — |    |   | 103.3    |   |
| Loss from equity in subsidiaries                                          | (1,224.3 | )        |     | (19.2    | )                      |     | (48.7                      | )      |   | — |         |   | 1,292.2 |    |   | —  |   |
| Net income (loss) before royalties and dividends                          | (1,224.3 | )        |     | (1,274.3 | )                      |     | (106.8                     | )      |   | 88.6    |         |   | 1,292.2 |    |   | (1,224.6 | )      |
| Royalties and dividends                                                   | —  |     |     | 50.0     |                   |     | —                    |   |   | (50.0   | )            |   | — |    |   | —  |   |
| Net loss after royalties and dividends                                    | (1,224.3 | )        |     | (1,224.3 | )                      |     | (106.8                     | )      |   | 38.6    |         |   | 1,292.2 |    |   | (1,224.6 | )      |
| Net loss attributable to noncontrolling interests                         | —  |     |     | —  |                   |     | —                    |   |   | 0.3     |         |   | — |    |   | 0.3      |   |
| Net loss attributable to AAM                                              | $        | (1,224.3 | )        |     | $                      | (1,224.3 | )                          |   | $      | (106.8  | )            |   | $       | 38.9    |   |     | $      | 1,292.2 |   |   | $ | (1,224.3 | )      |

----

|                                                                        |               |         |          |         |                        |         |                            |        |        |         |              |        |         |         |         |         |        |         |        |        |   |         |        |
|------------------------------------------------------------------------|---------------|---------|----------|---------|------------------------|---------|----------------------------|--------|--------|---------|--------------|--------|---------|---------|---------|---------|--------|---------|--------|--------|---|---------|--------|
| Condensed Consolidating Balance Sheets                                 |          |    |     |    |                   |    |                       |   |   |    |         |
| 2010                                                                   | Holdings      |    | AAM Inc. |    | Guarantor Subsidiaries |    | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
| Assets                                                                 | (in millions) |
| Current assets                                                         |          |    |     |    |                   |    |                       |   |   |    |         |
|     Cash and cash equivalents                      | $             | — |     |    | $                      | 67.6    |                       |   | $      | — |         |   | $       | 177.0   |    |    | $      | — |   |   | $ | 244.6   |   |
|     Accounts receivable, net                       | —       |    |     | 18.4    |                   |    | 24.5                       |   |   | 103.7   |         |   | — |    |    | 146.6   |   |
|     Inventories, net                               | —       |    |     | 34.8    |                   |    | 27.0                       |   |   | 68.5    |         |   | — |    |    | 130.3   |   |
|     Other current assets                           | —       |    |     | 35.6    |                   |    | 0.2                        |   |   | 44.8    |         |   | — |    |    | 80.6    |   |
| Total current assets                                                   | —       |    |     | 156.4   |                   |    | 51.7                       |   |   | 394.0   |         |   | — |    |    | 602.1   |   |
| Property, plant and equipment, net                                     | —       |    |     | 259.6   |                   |    | 91.0                       |   |   | 585.7   |         |   | — |    |    | 936.3   |   |
| Goodwill                                                               | —       |    |     | — |                   |    | 147.8                      |   |   | 8.0     |         |   | — |    |    | 155.8   |   |
| Other assets and deferred charges                                      | —       |    |     | 329.8   |                   |    | 17.2                       |   |   | 73.5    |         |   | — |    |    | 420.5   |   |
| Investment in subsidiaries                                             | —       |    |     | 887.7   |                   |    | 41.0                       |   |   | — |         |   | (928.7  | )       |    | — |   |
| Total assets                                                           | $             | — |     |    | $                      | 1,633.5 |                       |   | $      | 348.7   |         |   | $       | 1,061.2 |    |    | $      | (928.7  | )      |   | $ | 2,114.7 |   |
| Liabilities and stockholders' equity (deficit)                         |          |    |     |    |                   |    |                       |   |   |    |         |
| Current liabilities                                                    |          |    |     |    |                   |    |                       |   |   |    |         |
|     Accounts payable                               | $             | — |     |    | $                      | 76.4    |                       |   | $      | 35.7    |         |   | $       | 171.5   |    |    | $      | — |   |   | $ | 283.6   |   |
|     Other current liabilities                      | —       |    |     | 209.9   |                   |    | 4.1                        |   |   | 71.5    |         |   | — |    |    | 285.5   |   |
| Total current liabilities                                              | —       |    |     | 286.3   |                   |    | 39.8                       |   |   | 243.0   |         |   | — |    |    | 569.1   |   |
| Intercompany payable (receivable)                                      | 320.1         |    |     | (395.3  | )                      |    | 272.5                      |   |   | (197.3  | )            |   | — |    |    | — |   |
| Long-term debt                                                         | 0.4           |    |     | 970.2   |                   |    | 6.1                        |   |   | 33.3    |         |   | — |    |    | 1,010.0 |   |
| Investment in subsidiaries obligation                                  | 159.0         |    |     | — |                   |    | —                    |   |   | — |         |   | (159.0  | )       |    | — |   |
| Other long-term liabilities                                            | —       |    |     | 931.3   |                   |    | 1.2                        |   |   | 71.2    |         |   | — |    |    | 1,003.7 |   |
| Total liabilities                                                      | 479.5         |    |     | 1,792.5 |                   |    | 319.6                      |   |   | 150.2   |         |   | (159.0  | )       |    | 2,582.8 |   |
| Total AAM Stockholders' equity (deficit)                               | (479.5        | )       |     | (159.0  | )                      |    | 29.1                       |   |   | 899.6   |         |   | (769.7  | )       |    | (479.5  | )      |
|      Noncontrolling interests in subsidiaries | —       |    |     | — |                   |    | —                    |   |   | 11.4    |         |   | — |    |    | 11.4    |   |
| Total stockholders' equity (deficit)                                   | (479.5        | )       |     | (159.0  | )                      |    | 29.1                       |   |   | 911.0   |         |   | (769.7  | )       |    | (468.1  | )      |
| Total liabilities and stockholders' equity (deficit)                   | $             | — |     |    | $                      | 1,633.5 |                       |   | $      | 348.7   |         |   | $       | 1,061.2 |    |    | $      | (928.7  | )      |   | $ | 2,114.7 |   |
|                                                                   |          |    |     |    |                   |    |                       |   |   |    |         |
| 2009                                                                   | Holdings      |    | AAM Inc. |    | Guarantor Subsidiaries |    | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
| Assets                                                                 |          |    |     |    |                   |    |                       |   |   |    |         |
| Current assets                                                         |          |    |     |    |                   |    |                       |   |   |    |         |
|     Cash and cash equivalents                      | $             | — |     |    | $                      | 80.6    |                       |   | $      | 1.9     |         |   | $       | 95.6    |    |    | $      | — |   |   | $ | 178.1   |   |
|     Short-term investments                         | —       |    |     | 1.4     |                   |    | —                    |   |   | 2.8     |         |   | — |    |    | 4.2     |   |
|     Accounts receivable, net                       | —       |    |     | 10.9    |                   |    | 27.5                       |   |   | 91.3    |         |   | — |    |    | 129.7   |   |
|     Inventories, net                               | —       |    |     | 22.8    |                   |    | 16.8                       |   |   | 51.0    |         |   | — |    |    | 90.6    |   |
|     Other current assets                           | —       |    |     | 86.4    |                   |    | 1.4                        |   |   | 26.2    |         |   | — |    |    | 114.0   |   |
| Total current assets                                                   | —       |    |     | 202.1   |                   |    | 47.6                       |   |   | 266.9   |         |   | — |    |    | 516.6   |   |
| Property, plant and equipment, net                                     | —       |    |     | 272.8   |                   |    | 101.2                      |   |   | 572.7   |         |   | — |    |    | 946.7   |   |
| Goodwill                                                               | —       |    |     | — |                   |    | 147.8                      |   |   | — |         |   | — |    |    | 147.8   |   |
| Other assets and deferred charges                                      | —       |    |     | 304.8   |                   |    | 14.5                       |   |   | 56.4    |         |   | — |    |    | 375.7   |   |
| Investment in subsidiaries                                             | —       |    |     | 725.9   |                   |    | 13.4                       |   |   | — |         |   | (739.3  | )       |    | — |   |
| Total assets                                                           | $             | — |     |    | $                      | 1,505.6 |                       |   | $      | 324.5   |         |   | $       | 896.0   |    |    | $      | (739.3  | )      |   | $ | 1,986.8 |   |
| Liabilities and stockholders' equity (deficit)                         |          |    |     |    |                   |    |                       |   |   |    |         |
| Current liabilities                                                    |          |    |     |    |                   |    |                       |   |   |    |         |
|     Accounts payable                               | $             | — |     |    | $                      | 59.4    |                       |   | $      | 26.0    |         |   | $       | 115.5   |    |    | $      | — |   |   | $ | 200.9   |   |
|     Other current liabilities                      | —       |    |     | 185.1   |                   |    | 3.7                        |   |   | 55.8    |         |   | — |    |    | 244.6   |   |
| Total current liabilities                                              | —       |    |     | 244.5   |                   |    | 29.7                       |   |   | 171.3   |         |   | — |    |    | 445.5   |   |
| Intercompany payable (receivable)                                      | 318.8         |    |     | (470.1  | )                      |    | 262.7                      |   |   | (111.4  | )            |   | — |    |    | — |   |
| Long-term debt                                                         | 0.4           |    |     | 1,029.4 |                   |    | 6.3                        |   |   | 35.3    |         |   | — |    |    | 1,071.4 |   |
| Investment in subsidiaries obligation                                  | 241.0         |    |     | — |                   |    | —                    |   |   |    |         | (241.0 | )       |    | — |    |
| Other long-term liabilities                                            | —       |    |     | 942.8   |                   |    | 0.7                        |   |   | 86.3    |         |   | — |    |    | 1,029.8 |   |
| Total liabilities                                                      | 560.2         |    |     | 1,746.6 |                   |    | 299.4                      |   |   | 181.5   |         |   | (241.0  | )       |    | 2,546.7 |   |
| Total AAM Stockholders' equity (deficit)                               | (560.2        | )       |     | (241.0  | )                      |    | 25.1                       |   |   | 714.2   |         |   | (498.3  | )       |    | (560.2  | )      |
|      Noncontrolling interests in subsidiaries | —       |    |     | — |                   |    | —                    |   |   | 0.3     |         |   | — |    |    | 0.3     |   |
| Total stockholders' equity (deficit)                                   | (560.2        | )       |     | (241.0  | )                      |    | 25.1                       |   |   | 714.5   |         |   | (498.3  | )       |    | (559.9  | )      |
| Total liabilities and stockholders' equity (deficit)                   | $             | — |     |    | $                      | 1,505.6 |                       |   | $      | 324.5   |         |   | $       | 896.0   |    |    | $      | (739.3  | )      |   | $ | 1,986.8 |   |

----

|                                                        |               |         |          |         |                        |        |                            |        |        |         |              |        |         |        |        |         |        |         |        |        |   |       |        |
|--------------------------------------------------------|---------------|---------|----------|---------|------------------------|--------|----------------------------|--------|--------|---------|--------------|--------|---------|--------|--------|---------|--------|---------|--------|--------|---|-------|--------|
| Condensed Consolidating Statements of Cash Flows       |          |    |     |    |                   |   |                       |   |   |    |
|                                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| 2010                                                   | Holdings      |    | AAM Inc. |    | Guarantor Subsidiaries |   | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
|                                                   | (in millions) |
| Net cash provided by (used in) operating activities    | $             | — |     |    | $                      | (5.9   | )                          |   | $      | 40.3    |         |   | $       | 205.9  |   |    | $      | — |   |   | $ | 240.3 |   |
| Investing activities                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| Purchases of property, plant and equipment             | —       |    |     | (30.8   | )                      |   | (6.2                       | )      |   | (71.3   | )            |   | — |   |   | (108.3  | )      |
| Proceeds from sale of property, plant and equipment    | —       |    |     | 1.7     |                   |   | —                    |   |   | 3.2     |         |   | — |   |   | 4.9     |   |
| Redemption of short-term investments                   | —       |    |     | 1.6     |                   |   | —                    |   |   | 4.8     |         |   | — |   |   | 6.4     |   |
| Puchase buyouts of leased equipment                    | —       |    |     | (7.8    | )                      |   | —                    |   |   | — |         |   | — |   |   | (7.8    | )      |
| Acquisition, net                                       | —       |    |     | — |                   |   | —                    |   |   | (2.2    | )            |   | — |   |   | (2.2    | )      |
| Net cash used in investing activities                  | —       |    |     | (35.3   | )                      |   | (6.2                       | )      |   | (65.5   | )            |   | — |   |   | (107.0  | )      |
| Financing activities                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| Net debt activity                                      | —       |    |     | (59.2   | )                      |   | (0.2                       | )      |   | (2.5    | )            |   | — |   |   | (61.9   | )      |
| Intercompany activity                                  | 1.3           |    |     | 88.5    |                   |   | (33.7                      | )      |   | (56.1   | )            |   | — |   |   | — |   |
| Debt issuance costs                                    | —       |    |     | (2.2    | )                      |   | —                    |   |   | — |         |   | — |   |   | (2.2    | )      |
| Employee stock option exercises                        | —       |    |     | 1.1     |                   |   | —                    |   |   | — |         |   | — |   |   | 1.1     |   |
| Purchase of treasury stock                             | (1.3          | )       |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | (1.3    | )      |
| Purchase of noncontrolling interest                    | —       |    |     | — |                   |   | (2.1                       | )      |   | — |         |   | — |   |   | (2.1    | )      |
| Net cash provided by (used in) financing activities    | —       |    |     | 28.2    |                   |   | (36.0                      | )      |   | (58.6   | )            |   | — |   |   | (66.4   | )      |
| Effect of exchange rate changes on cash                | —       |    |     | — |                   |   | —                    |   |   | (0.4    | )            |   | — |   |   | (0.4    | )      |
| Net increase (decrease) in cash and cash equivalents   | —       |    |     | (13.0   | )                      |   | (1.9                       | )      |   | 81.4    |         |   | — |   |   | 66.5    |   |
| Cash and cash equivalents at beginning of period       | —       |    |     | 80.6    |                   |   | 1.9                        |   |   | 95.6    |         |   | — |   |   | 178.1   |   |
| Cash and cash equivalents at end of period             | $             | — |     |    | $                      | 67.6   |                       |   | $      | — |         |   | $       | 177.0  |   |    | $      | — |   |   | $ | 244.6 |   |
|                                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| 2009                                                   | Holdings      |    | AAM Inc. |    | Guarantor Subsidiaries |   | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
| Net cash provided by (used in) operating activities    | $             | — |     |    | $                      | (160.1 | )                          |   | $      | 15.6    |         |   | $       | 160.4  |   |    | $      | — |   |   | $ | 15.9  |   |
| Investing activities                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| Purchases of property, plant and equipment             | —       |    |     | (54.7   | )                      |   | (26.3                      | )      |   | (60.5   | )            |   | — |   |   | (141.5  | )      |
| Redemption of short-term investments                   | —       |    |     | 7.9     |                   |   | —                    |   |   | 63.7    |         |   | — |   |   | 71.6    |   |
| Investment in joint venture                            | —       |    |     | — |                   |   | (10.2                      | )      |   | — |         |   | — |   |   | (10.2   | )      |
| Other investing activities                             | —       |    |     | 0.8     |                   |   | 0.3                        |   |   | 4.4     |         |   | — |   |   | 5.5     |   |
| Net cash provided by (used in) investing activities    | —       |    |     | (46.0   | )                      |   | (36.2                      | )      |   | 7.6     |         |   | — |   |   | (74.6   | )      |
| Financing activities                                   |          |    |     |    |                   |   |                       |   |   |    |         |
| Net debt activity                                      | —       |    |     | (65.4   | )                      |   | (0.2                       | )      |   | (9.5    | )            |   | — |   |   | (75.1   | )      |
| Intercompany activity                                  | (139.1        | )       |     | 329.4   |                   |   | 22.7                       |   |   | (213.0  | )            |   | — |   |   | — |   |
| Debt issuance costs                                    | —       |    |     | (32.9   | )                      |   | —                    |   |   | — |         |   | — |   |   | (32.9   | )      |
| Proceeds from issuance of common stock                 | 109.7         |    |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | 109.7   |   |
| Proceeds from issuance of warrants to GM               | 30.3          |    |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | 30.3    |   |
| Employee stock option exercises, including tax benefit | —       |    |     | 1.0     |                   |   | —                    |   |   | — |         |   | — |   |   | 1.0     |   |
| Purchase of treasury stock                             | (0.9          | )       |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | (0.9    | )      |
| Net cash provided by (used in) financing activities    | —       |    |     | 232.1   |                   |   | 22.5                       |   |   | (222.5  | )            |   | — |   |   | 32.1    |   |
| Effect of exchange rate changes on cash                | —       |    |     | — |                   |   | —                    |   |   | 5.9     |         |   | — |   |   | 5.9     |   |
| Net increase (decrease) in cash and cash equivalents   | —       |    |     | 26.0    |                   |   | 1.9                        |   |   | (48.6   | )            |   | — |   |   | (20.7   | )      |
| Cash and cash equivalents at beginning of period       | —       |    |     | 54.6    |                   |   | —                    |   |   | 144.2   |         |   | — |   |   | 198.8   |   |
| Cash and cash equivalents at end of period             | $             | — |     |    | $                      | 80.6   |                       |   | $      | 1.9     |         |   | $       | 95.6   |   |    | $      | — |   |   | $ | 178.1 |   |

----

|                                                           |          |         |          |         |                        |        |                            |        |        |         |              |        |         |        |        |         |        |         |        |        |   |        |        |
|-----------------------------------------------------------|----------|---------|----------|---------|------------------------|--------|----------------------------|--------|--------|---------|--------------|--------|---------|--------|--------|---------|--------|---------|--------|--------|---|--------|--------|
| 2008                                                      | Holdings |    | AAM Inc. |    | Guarantor Subsidiaries |   | Non-Guarantor Subsidiaries |   | Elims  |    | Consolidated |
|                                                      |     |    |     |    |                   |   |                       |   |   |    |         |
| Net cash provided by (used in) operating activities       | $        | — |     |    | $                      | (329.7 | )                          |   | $      | 25.3    |         |   | $       | 141.3  |   |    | $      | — |   |   | $ | (163.1 | )      |
| Investing activities                                      |     |    |     |    |                   |   |                       |   |   |    |         |
| Purchases of property, plant and equipment                | —  |    |     | (54.5   | )                      |   | (1.0                       | )      |   | (84.7   | )            |   | — |   |   | (140.2  | )      |
| Change in short-term investments                          | —  |    |     | (10.6   | )                      |   | —                    |   |   | (66.5   | )            |   | — |   |   | (77.1   | )      |
| Proceeds from sale of property, plant and  equipment | —  |    |     | 2.1     |                   |   | —                    |   |   | 1.3     |         |   | — |   |   | 3.4     |   |
| Other investing activities                                | —  |    |     | (10.7   | )                      |   | —                    |   |   | (7.1    | )            |   | — |   |   | (17.8   | )      |
| Net cash used in investing activities                     | —  |    |     | (73.7   | )                      |   | (1.0                       | )      |   | (157.0  | )            |   | — |   |   | (231.7  | )      |
| Financing activities                                      |     |    |     |    |                   |   |                       |   |   |    |         |
| Net debt activity                                         | (2.3     | )       |     | 295.0   |                   |   | (0.2                       | )      |   | (7.1    | )            |   | — |   |   | 285.4   |   |
| Intercompany activity                                     | 20.7     |    |     | (48.0   | )                      |   | (24.1                      | )      |   | 51.4    |         |   | — |   |   | — |   |
| Debt issuance costs                                       | —  |    |     | (13.4   | )                      |   | —                    |   |   | — |         |   | — |   |   | (13.4   | )      |
| Payment of dividends                                      | (18.3    | )       |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | (18.3   | )      |
| Employee stock option exercises, including tax benefit    | —  |    |     | 0.9     |                   |   | —                    |   |   | — |         |   | — |   |   | 0.9     |   |
| Purchase of treasury stock                                | (0.1     | )       |     | — |                   |   | —                    |   |   | — |         |   | — |   |   | (0.1    | )      |
| Net cash provided by (used in) financing activities       | —  |    |     | 234.5   |                   |   | (24.3                      | )      |   | 44.3    |         |   | — |   |   | 254.5   |   |
| Effect of exchange rate changes on cash                   | —  |    |     | — |                   |   | —                    |   |   | (4.5    | )            |   | — |   |   | (4.5    | )      |
| Net increase (decrease) in cash and cash equivalents      | —  |    |     | (168.9  | )                      |   | —                    |   |   | 24.1    |         |   | — |   |   | (144.8  | )      |
| Cash and cash equivalents at beginning of period          | —  |    |     | 223.5   |                   |   | —                    |   |   | 120.1   |         |   | — |   |   | 343.6   |   |
| Cash and cash equivalents at end of period                | $        | — |     |    | $                      | 54.6   |                       |   | $      | — |         |   | $       | 144.2  |   |    | $      | — |   |   | $ | 198.8  |   |

----

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|          |
|----------|
| Part III |

----

|         |
|---------|
| Part IV |

|                            |                          |
|----------------------------|--------------------------|
| 1.     | All Financial Statements |

|                            |                               |
|----------------------------|-------------------------------|
| 2.     | Financial Statement Schedules |

|                            |          |
|----------------------------|----------|
| 3.     | Exhibits |

|        |        |                                                                                                                                                                                               |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number |   | Description of Exhibit                                                                                                                                                                        |
|   |   |                                                                                                                                                                                          |
| 3.01   |   | Amended and Restated Certificate of Incorporation                                                                                                                                             |
|   |   | (Incorporated by reference to Exhibit 3.01 filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                       |
|   |   |                                                                                                                                                                                          |
| 3.02   |   | Amended and Restated Bylaws of American Axle & Manufacturing Inc.                                                                                                                         |
|   |   |                                                                                                                                                                                          |
| 4.01   |   | Specimen Certificate for shares of the Company's Common Stock                                                                                                                            |
|   |   | (Incorporated by reference to Exhibit 4.01 filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                       |
|   |   |                                                                                                                                                                                          |
| 4.02   |   | 5.25% Senior Notes due 2014, Indenture, dated as of February 11, 2004, among AAM, Inc., as issuer, the Company, as guarantor, and BNY Midwest Trust Company, as trustee                  |
|   |   | (Incorporated by reference to Exhibit 4.02 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2003)                                        |
|   |   |                                                                                                                                                                                          |
| 4.03   |   | Senior Convertible Notes due 2024, Indenture, dated as of February 11, 2004, among the Company, as issuer, AAM, Inc., as guarantor, and BNY Midwest Trust Company, as trustee            |
|   |   | (Incorporated by reference to Exhibit 4.03 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2003)                                        |
|   |   |                                                                                                                                                                                          |
| 4.04   |   | 7.875% Senior Notes due 2017, Indenture, dated as of February 27, 2007, between AAM, Inc., as issuer, the Company, as guarantor, and Bank of New York Trust Company, N.A., as trustee.   |
|   |   | (Incorporated by reference to Exhibit 4.04 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2007)                                        |

----

|               |        |                                                                                                                                                                                                                              |
|---------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number        |   |  Description of Exhibit                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                         |
| 4.05          |   | Warrant Agreement dated as of September 16, 2009, among American Axle & Manufacturing, Inc., American Axle & Manufacturing Holdings, Inc. and General Motors Company                                                 |
|          |   | (Incorporated by reference to Exhibit 4.01 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended September 30, 2009)                                                          |
|          |   |                                                                                                                                                                                                                         |
| 4.06          |   | Indenture, dated as of December 18, 2009, among American Axle & Manufacturing, Inc., the Guarantors and U.S. Bank National Association, as trustee (including the form of the 9.25% Senior Secured Note due 2017).  |
|          |   | (Incorporated by reference to Exhibit 4.01 of Current Report on Form 8-K dated December 21, 2009.)                                                                                                                           |
|          |   |                                                                                                                                                                                                                         |
| 4.07          |   | Amended and Restated Rights Agreement, dated as of October 30, 2009, between American Axle & Manufacturing Holdings, Inc. and Computershare Trust Company, N.A., as Rights Agent.                                   |
|          |   | (Incorporated by reference to Exhibit 4.01 of Current Report on Form 8-K dated November 2, 2009.)                                                                                                                            |
|          |   |                                                                                                                                                                                                                         |
| 4.08          |   | Second Amended and Restated Rights Agreement, dated as of February 8, 2011, between American Axle & Manufacturing Holdings, Inc. and Computershare Trust Company, N.A., as Rights Agent.                            |
|          |   | (Incorporated by reference to Exhibit 4.01 of Current Report on Form 8-K dated February 8, 2011.)                                                                                                                            |
|          |   |                                                                                                                                                                                                                         |
| 10.01         |   | Asset Purchase Agreement, dated February 18, 1994, between AAM, Inc. and GM, and all amendments thereto                                                                                                                 |
|          |   | (Incorporated by reference to Exhibit 10.01 filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                                                     |
|          |   |                                                                                                                                                                                                                         |
| 10.02         |   | The Amended and Restated American Axle & Manufacturing of Michigan, Inc. Management Stock Option Plan                                                                                                               |
|          |   | (Incorporated by reference to Exhibit 10.08 filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                                                     |
|          |   |                                                                                                                                                                                                                         |
| ‡10.03 |   | Employment Agreement, dated November 6, 1997, by and between the Company and Richard E. Dauch                                                                                                                           |
|          |   | (Incorporated by reference to Exhibit 10.11 filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                                                     |
|          |   |                                                                                                                                                                                                                         |
| 10.04         |   | Disposition Agreement, dated as of December 10, 1998, between American Axle & Manufacturing of Michigan, Inc. and Richard E. Dauch                                                                                  |
|          |   | (Incorporated by reference to Exhibit 10.13(a) filed with American Axle & Manufacturing Holdings, Inc. Registration Statement on Form S-1 (Registration No. 333-53491))                                                  |
|          |   |                                                                                                                                                                                                                         |
| ‡10.05 |   | Amendment dated December 20, 2000 to Employment Agreement dated as of November 6, 1997 by and between the Company and Richard E. Dauch                                                                                  |
|          |   | (Incorporated by reference to Exhibit 10.07 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2000)                                                                      |
|          |   |                                                                                                                                                                                                                         |
| ‡10.06 |   | Second Amendment, dated as of December 10, 2001, to the Employment Agreement, dated as of November 6, 1997, by and between the Company and Richard E. Dauch                                                             |
|          |   | (Incorporated by reference to Exhibit 10.49 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 30, 2001)                                                                      |
|          |   |                                                                                                                                                                                                                         |
| 10.07         |   | Lifetime Program Contract for GMT-900 Products, between GM and AAM, Inc.                                                                                                                                                     |
|          |   | (Incorporated by reference to Exhibit 10.51 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended June 30, 2003)                                                              |

----

|                                       |        |                                                                                                                                                                      |
|---------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number                           |   | Description of Exhibit                                                                                                                                          |
|                                  |   |                                                                                                                                                                 |
| ++10.08                               |   | Letter Agreement dated April 22, 2004 by and between DaimlerChrysler Corporation and AAM, Inc.                                                                       |
|                                  |   | (Incorporated by reference to Exhibit 10.43 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended June 30, 2004)      |
|                                  |   |                                                                                                                                                                 |
| ‡10.09                         |   | Forms of Restricted Stock and Restricted Stock Unit Agreements under 1999 Stock Incentive Plan                                                                  |
|                                  |   | (Incorporated by reference to Exhibit 10.45 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended September 30, 2004) |
|                                  |   |                                                                                                                                                                 |
| ‡10.10                         |   | Form of 2002 Stock Option Agreement                                                                                                                             |
|                                  |   | (Incorporated by reference to Exhibit 10.2 of Current Report on Form 8-K dated October 26, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.11                         |   |  Form of 2003 Stock Option Agreement                                                                                                                       |
|                                  |   | (Incorporated by reference to Exhibit 10.2 of Current Report on Form 8-K dated October 26, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.12     |   |  Form of 2004 Stock Option Agreement                                                                                                                       |
|                                  |   | (Incorporated by reference to Exhibit 10.3 of Current Report on Form 8-K dated October 26, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.13                         |   | Form of 2005 Stock Option Agreement                                                                                                                             |
|                                  |   | (Incorporated by reference to Exhibit 10.4 of Current Report on Form 8-K dated October 26, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.14                         |   |  Form of Nonqualified Stock Option Agreement                                                                                                               |
|                                  |   | (Incorporated by reference to Exhibit 10.5 of Current Report on Form 8-K dated October 26, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.15                         |   | Employment Agreement Extension between American Axle & Manufacturing Holdings, Inc. and Richard E. Dauch dated November 3, 2005                             |
|                                  |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated November 3, 2005.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.16                         |   | Restated 1999 American Axle & Manufacturing Holdings, Inc. Stock Incentive Compensation Plan                                                                |
|                                  |   | (Incorporated by reference to Exhibit 10.51 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2005)              |
|                                  |   |                                                                                                                                                                 |
| ‡10.17                         |   | Form of Restricted Stock Unit Award Agreement for Non-Employee Directors                                                                                        |
|                                  |   | (Incorporated by reference to Exhibit 10.52 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended March 31, 2006)     |
|                                  |   |                                                                                                                                                                 |
| ‡10.18                         |   | Amended and Restated American Axle & Manufacturing Holdings, Inc. Incentive Compensation Plan for Executive Officers                    |
|                                  |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated February 1, 2007.)                                                                    |
|                                  |   |                                                                                                                                                                 |
| ‡10.19                         |   | Employment Agreement Amendment between American Axle & Manufacturing Holdings, Inc. and Richard E. Dauch dated November 15, 2006                                 |
|                                  |   | (Incorporated by reference to Exhibit 10.45 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2006.)             |

----

|               |        |                                                                                                                                                                                                                                                                                       |
|---------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number   |   | Description of Exhibit                                                                                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.20 |   | Amended and Restated American Axle & Manufacturing, Inc. Supplemental Executive Retirement Program dated as December 22, 2006                                                                                                                                                     |
|          |   | (Incorporated by reference to Exhibit 10.46 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2006.)                                                                                                                              |
|          |   |                                                                                                                                                                                                                                                                                  |
| ++10.21       |   | Letter Agreement between General Motors Corporation and American Axle & Manufacturing, Inc. dated June 29, 2007                                                                                                                                                              |
|          |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated June 29, 2007)                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.22 |   | Amendment No. 1 dated as of July 25, 2007 to the Restricted Stock Unit Award Agreements dated as of March 15, 2005, March 15, 2006 and March 14, 2007 between Richard E. Dauch and American Axle & Manufacturing Holdings, Inc.                                              |
|          |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated July 25, 2007)                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.23 |   | Form of Restricted Stock Unit Award Agreement for Non-Employee Directors of American Axle & Manufacturing Holdings, Inc.                                                                                                                                 |
|          |   | (Incorporated by reference to Exhibit 10.1 of Current Report on Form 8-K dated February 1, 2008)                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.24 |   | Amendment, dated January 31, 2008, to Employment Agreement, dated November 6, 1997, between American Axle & Manufacturing Holdings, Inc. and Richard E. Dauch.                                                                                                               |
|          |   | (Incorporated by reference to Exhibit 10.2 of Current Report on Form 8-K dated February 1, 2008)                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.25 |   | Form of 2008 Stock Option Award Agreement for executive officers of American Axle & Manufacturing Holdings, Inc.                                                                                                                                                                  |
|          |   | (Incorporated by reference to Exhibit 10.52 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2007)                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.26 |   | Form of 2008 Restricted Stock Award Agreement for certain executive officers of American Axle & Manufacturing Holdings, Inc. (Ratable Vesting)                                                                                                                               |
|          |   | (Incorporated by reference to Exhibit 10.53 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2007)                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.27 |   | Form of 2008 Restricted Stock Award Agreement for certain executive officers of American Axle & Manufacturing Holdings, Inc. (Cliff Vesting)                                                                                                                                 |
|          |   | (Incorporated by reference to Exhibit 10.54 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2007)                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.28 |   | Form of 2008 Performance Award Agreement for certain executive officers of American Axle & Manufacturing Holdings, Inc.                                                                                                                                                      |
|          |   | (Incorporated by reference to Exhibit 10.55 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2007)                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                  |
| 10.29         |   | Agreement between General Motors Corporation and American Axle & Manufacturing, Inc. dated May 3, 2008, as amended May 16, 2008.                          |
|          |   | (Incorporated by reference to Exhibit 10.1 of Current Report on Form 8-K dated May 23, 2008)                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                  |
| ‡10.30 |   | Form of 2009 Deferred Compensation Unit Award Agreement                                                                                                                                                                                                                               |
|          |   | (Incorporated by reference to Exhibit 10.60 filed with American Axle & Manufacturing Holdings, Inc. Form 10-K for the year ended December 31, 2008)                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                  |

----

|              |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number  |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.31        |   | Amended and Restated AAM 2009 Long-Term Incentive Plan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|         |   | (Incorporated by reference to Exhibit 10.61 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarter ended June 30, 2009)                                                                                                                                                                                                                                                                                                                                                                                   |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.32        |   | Waiver and Amendment dated as of June 30, 2009 among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., the banks and other financial institutions identified therein as lenders party thereto, and JP Morgan Chase Bank, N.A., as Administrative Agent.                                                                                                                                                                                                                                    |
|         |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated July 7, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.33        |   | Intercreditor Agreement dated as of September 16, 2009 among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., General Motors Company and JPMorgan Chase Bank, N.A., as Collateral Agent.                                                                                                                                                                                                                                                                                                  |
|         |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.34        |   | Revolving Credit Restatement Agreement dated as of September 16, 2009 among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., the banks and other financial institutions identified therein as lenders party thereto, and JP Morgan Chase Bank, N.A., as Administrative Agent.                                                                                                                                                                                                             |
|         |   | (Incorporated by reference to Exhibit 99.2 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.35        |   | Amended and Restated Revolving Credit Agreement dated as of January 9, 2004, as amended and restated as of September 16, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., the banks and other financial institutions identified therein as lenders party thereto, and JP Morgan Chase Bank, N.A., as Administrative Agent for the lenders party thereto, and J.P. Morgan Securities Inc. and Banc of America Securities LLC, as Joint Lead Arrangers and Joint Bookrunners.   |
|         |   | (Incorporated by reference to Exhibit 99.3 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.36        |   | Term Loan Restatement Agreement dated as of September 16, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., the banks and other financial institutions identified therein as lenders party thereto, and JP Morgan Chase Bank, N.A., as Administrative Agent.                                                                                                                                                                                                                   |
|         |   | (Incorporated by reference to Exhibit 99.4 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.37        |   | Amended and Restated Term Loan Agreement dated as of June 14, 2007, as amended and restated as of September 16, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., JPMorgan Chase Bank, N.A. as Administrative Agent for the lenders party thereto, and J.P. Morgan Securities Inc. and Banc of America Securities LLC, as Joint Lead Arrangers and Joint Bookrunners.                                                                                                          |
|         |   | (Incorporated by reference to Exhibit 99.5 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.38        |   | Collateral Agreement dated as of November 7, 2008, as amended and restated as of September 16, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., certain subsidiaries of American Axle & Manufacturing, Inc. identified therein and JPMorgan Chase Bank, N.A., as Collateral Agent.                                                                                                                                                                                        |
|         |   | (Incorporated by reference to Exhibit 99.6 of Current Report on Form 8-K dated September 17, 2009.)                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

|               |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number   |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ++10.39       |   | Settlement and Commercial Agreement, dated as of September 16, 2009, among General Motors Company, American Axle & Manufacturing Holdings, Inc. and American Axle & Manufacturing, Inc.                                                                                                                                                                                                                                                  |
|          |   | (Incorporated by reference to Exhibit 10.62 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended September 30, 2009)                                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.40         |   | Second Lien Term Credit Agreement dated as of September 16, 2009, between American Axle & Manufacturing, Inc. and General Motors Company, as lender.  Second Lien Collateral Agreement dated as of September 16, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., certain subsidiaries of American Axle & Manufacturing, Inc. identified therein and General Motors Company.  |
|          |   | (Incorporated by reference to Exhibit 10.63 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended September 30, 2009)                                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.41         |   | Access and Security Agreement, dated as of September 16, 2009, between American Axle & Manufacturing, Inc. and General Motors Company.                                                                                                                                                                                                                                                                                                       |
|          |   | (Incorporated by reference to Exhibit 99.1 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended September 30, 2009)                                                                                                                                                                                                                                                                                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.42         |   | Letter Amendment, dated December 4, 2009, to the Credit Agreement, dated as of September 16, 2009, by and among American Axle & Manufacturing, Inc., American Axle & Manufacturing Holdings, Inc. and General Motors Company.                                                                                                                                                                                                            |
|          |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated December 7, 2009.)                                                                                                                                                                                                                                                                                                                                                     |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.43         |   | Amended and Restated Credit Agreement dated as of January 9, 2004, as amended and restated as of December 18, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., JPMorgan Chase Bank, N.A. as Administrative Agent for the lenders party thereto, and J.P. Morgan Securities Inc. and Banc of America Securities LLC, as Joint Lead Arrangers and Joint Bookrunners.                         |
|          |   | (Incorporated by reference to Exhibit 10.1 of Current Report on Form 8-K dated December 21, 2009.)                                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.44         |   | First Lien Intercreditor Agreement dated as of December 18, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., certain domestic subsidiaries of the Company, JPMorgan Chase Bank, N.A., U.S. Bank National Association and any additional authorized representative from time to time party hereto.                                                                                          |
|          |   | (Incorporated by reference to Exhibit 99.1 of Current Report on Form 8-K dated December 21, 2009.)                                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.45         |   | Collateral Agreement dated as of November 7, 2008, as amended and restated as of December 18, 2009, among American Axle & Manufacturing Holdings, Inc., American Axle & Manufacturing, Inc., certain subsidiaries of American Axle & Manufacturing, Inc. identified therein and JPMorgan Chase Bank, N.A., as Collateral Agent.                                                                                                      |
|          |   | (Incorporated by reference to Exhibit 99.2 of Current Report on Form 8-K dated December 21, 2009.)                                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ‡10.46 |   | Amendment, dated as of December 22, 2009, to the Employment Agreement, dated as of November 6, 1997, by and between American Axle & Manufacturing Holdings, Inc. and Richard E. Dauch.                                                                                                                                                                                                                                                  |
|          |   | (Incorporated by reference to Exhibit 10.1 of Current Report on Form 8-K dated December 29, 2009.)                                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ‡10.47 |   | Special Incentive Award Agreement dated March 15, 2010 between American Axle & Manufacturing Holdings, Inc. and David C. Dauch.                                                                                                                                                                                                                                                                                                              |
|          |   | (Incorporated by reference to Exhibit 10.47 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended March 31, 2010.)                                                                                                                                                                                                                                                                                     |

----

|               |        |                                                                                                                                                                                |
|---------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number        |   | Description of Exhibit                                                                                                                                                    |
|          |   |                                                                                                                                                                           |
| ‡10.48 |   | Special Incentive Award Agreement dated March 15, 2010 between American Axle & Manufacturing Holdings, Inc. and Michael K. Simonte.                                   |
|          |   | (Incorporated by reference to Exhibit 10.48 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended March 31, 2010.)              |
|          |   |                                                                                                                                                                           |
| ‡10.49 |   | Special Incentive Award Agreement dated March 15, 2010 between American Axle & Manufacturing Holdings, Inc. and John J. Bellanti.                                     |
|          |   | (Incorporated by reference to Exhibit 10.49 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended March 31, 2010.)              |
|          |   |                                                                                                                                                                           |
| ‡10.50 |   | Retirement Incentive Award Agreement dated March 15, 2010 between American Axle & Manufacturing Holdings, Inc. and Patrick S. Lancaster                               |
|          |   | (Incorporated by reference to Exhibit 10.50 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended March 31, 2010.)              |
|          |   |                                                                                                                                                                           |
| 10.51         |   | Confidential Settlement Agreement and General Release dated July 2, 2010 between American Axle & Manufacturing, Inc. and Patrick S. Lancaster                         |
|          |   | (Incorporated by reference to Exhibit 10.51 filed with American Axle & Manufacturing Holdings, Inc. Form 10-Q for the quarterly period ended June 30, 2010.)               |
|          |   |                                                                                                                                                                           |
| *12           |   | Computation of Ratio of Earnings to Fixed Charges                                                                                                                              |
|          |   |                                                                                                                                                                           |
| *21           |   | Subsidiaries of the Registrant                                                                                                                                                 |
|          |   |                                                                                                                                                                           |
| *23           |   | Consent of Independent Registered Public Accounting Firm                                                                                                                       |
|          |   |                                                                                                                                                                           |
| *31.1         |   | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act                                                                             |
|          |   |                                                                                                                                                                           |
| *31.2         |   | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act                                                                             |
|          |   |                                                                                                                                                                           |
| *32           |   | Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|          |   |                                                                                                                                                                           |
|          |   | (All other exhibits are not applicable.)                                                                                                                                       |

----

|                                 |               |        |             |        |              |        |        |        |           |           |        |        |           |        |   |     |        |
|---------------------------------|---------------|--------|-------------|--------|--------------|--------|--------|--------|-----------|-----------|--------|--------|-----------|--------|---|-----|--------|
|                            |          |   | Additions - |   |         |   |   |   |      |
|                            | Balance at    |   | Charged to  |   | Deductions - |   |   |   | Balance   |
|                            | Beginning of  |   | Costs and   |   | See Notes    |   |   |   | At End of |
|                            | Period        |   | Expenses    |   | Below        |   |   |   | Period    |
|                            | (in millions) |
| Year Ended December 31, 2008:   |          |   |        |   |         |   |   |   |      |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for doubtful accounts | $             | 2.2    |        |   | $            | 1.9    |   |   | $         | 0.8       |   |   | (1)  |   | $ | 3.3 |   |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for deferred taxes    | 42.3          |   |        | 551.9  |         |   | 12.4   |   |      | (2)  |   | 581.8  |      |
|                            |          |   |        |   |         |   |   |   |      |
| Inventory valuation allowance   | 40.3          |   |        | 58.9   |         |   | 70.9   |   |      | (4)  |   | 28.3   |      |
|                            |          |   |        |   |         |   |   |   |      |
| Year Ended December 31, 2009:   |          |   |        |   |         |   |   |   |      |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for doubtful accounts | 3.3           |   |        | 8.2    |         |   | 3.2    |   |      | (1)  |   | 8.3    |      |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for deferred taxes    | 581.8         |   |        | 268.3  |         |   | 290.4  |   |      | (5)  |   | 559.7  |      |
|                            |          |   |        |   |         |   |   |   |      |
| Inventory valuation allowance   | 28.3          |   |        | 17.3   |         |   | 11.9   |   |      | (3)  |   | 33.7   |      |
|                            |          |   |        |   |         |   |   |   |      |
| Year Ended December 31, 2010:   |          |   |        |   |         |   |   |   |      |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for doubtful accounts | 8.3           |   |        | 3.1    |         |   | 5.2    |   |      | (1)  |   | 6.2    |      |
|                            |          |   |        |   |         |   |   |   |      |
| Allowance for deferred taxes    | 559.7         |   |        | 50.9   |         |   | 49.7   |   |      | (6)  |   | 560.9  |      |
|                            |          |   |        |   |         |   |   |   |      |
| Inventory valuation allowance   | 33.7          |   |        | 7.7    |         |   | 13.7   |   |      | (3)  |   | 27.7   |      |
|                            |          |   |        |   |         |   |   |   |      |

|                             |                                                       |
|-----------------------------|-------------------------------------------------------|
| (1)     | Uncollectible accounts charged off net of recoveries. |

|                             |                                                                                                                                              |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------|
| (2)     | Adjustments associated with our assessment of the uncertainty of realizing the full benefit of deferred tax assets and currency translation. |

|                             |                                                                                                                                   |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------|
| (3)     | Primarily relates to inventory adjustments for physical quantity discrepancies and write-offs of excess and obsolete inventories. |

|                             |                                                                                                                                                                                            |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4)     | Primarily relates to write-offs of excess and obsolete inventories and the classification of certain indirect inventories, and related valuation allowances, as noncurrent assets in 2008. |

|                             |                                                                                                                                                                                                                                                                                                                                                            |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)     | Primarily relates to special legislation that was passed in 2009 that allowed us to extend the carryback period of our 2008 net operating loss and the decrease in the net deferred tax assets due to a deferred tax liability that was recorded in 2009 for the estimated tax impact of undistributed earnings of certain foreign subsidiaries. |

|                             |                                                                                                                                                                                                           |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)     | Primarily relates to the utilization of some of the 2009 NOL carryover and an adjustment of the deferred tax liability for the U.S. tax impact of undistributed earnings of certain foreign subsidiaries. |

----

|                                                  |
|--------------------------------------------------|
| AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. |
| (Registrant)                                     |
|                                             |
| /s/  Michael K. Simonte                          |
| Michael K. Simonte                               |
| Executive Vice President - Finance               |
| & Chief Financial Officer                    |
| (Chief Accounting Officer)                       |

|                                |        |                                          |        |                       |
|--------------------------------|--------|------------------------------------------|--------|-----------------------|
| Signature                      |   | Title                                    |   | Date                  |
|                           |   |                                     |   |                  |
| /s/ Richard E. Dauch           |   | Co-Founder, Chairman of the Board &  |   | February 9, 2011 |
|  Richard E. Dauch         |   | Chief Executive Officer                  |   |                  |
|                           |   |                                     |   |                  |
| /s/ Michael K. Simonte         |   | Executive Vice President - Finance & |   | February 9, 2011 |
|  Michael K. Simonte       |   | Chief Financial Officer                  |   |                  |
|                           |   |                                     |   |                  |
| /s/ Salvatore J. Bonanno Sr.   |   | Director                                 |   | February 9, 2011 |
|  Salvatore J. Bonanno Sr. |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Elizabeth A. Chappell      |   | Director                                 |   | February 9, 2011 |
|  Elizabeth A. Chappell    |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ David C. Dauch             |   | Director                                 |   | February 9, 2011 |
|  David C. Dauch           |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Forest J. Farmer           |   | Director                                 |   | February 9, 2011 |
|  Forest J. Farmer         |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Richard C. Lappin          |   | Director                                 |   | February 9, 2011 |
|  Richard C. Lappin        |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ James A. McCaslin          |   | Director                                 |   | February 9, 2011 |
| James A. McCaslin              |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ William P. Miller II       |   | Director                                 |   | February 9, 2011 |
|  William P. Miller II     |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Larry K. Switzer           |   | Director                                 |   | February 9, 2011 |
|  Larry K. Switzer         |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Thomas K. Walker           |   | Director                                 |   | February 9, 2011 |
| Thomas K. Walker               |   |                                     |   |                  |
|                           |   |                                     |   |                  |
| /s/ Dr. Henry T. Yang          |   | Director                                 |   | February 9, 2011 |
|  Dr. Henry T. Yang        |   |                                     |   |                  |