# EDGAR Filing Document

**Accession Number:** 0001043337
**File Stem:** 0001043337-23-000010
**Filing Date:** 2023-3
**Character Count:** 97449
**Document Hash:** 406103ff7812c3a787d73cfb4ae8b73d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001043337-23-000010.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001043337-23-000010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 54

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STONERIDGE INC
- **CENTRAL INDEX KEY:** 0001043337
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 341598949
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13337
- **FILM NUMBER:** 23694441

**BUSINESS ADDRESS:**
- **STREET 1:** 39675 MACKENZIE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** NOVI
- **STATE:** MI
- **ZIP:** 48377
- **BUSINESS PHONE:** 2484899300

**MAIL ADDRESS:**
- **STREET 1:** 39675 MACKENZIE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** NOVI
- **STATE:** MI
- **ZIP:** 48377

?xml version="1.0" ? sri-20230301

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): March 1, 2023

**<u>STONERIDGE, INC.</u>**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **<u>Ohio</u>** | **<u>001-13337</u>** | **<u>34-1598949</u>** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission<br>File Number) | (I.R.S. Employer<br>Identification No.) |

---

**<u>39675 MacKenzie Drive, Suite 400, Novi, Michigan 48377</u>**

(Address of principal executive offices, and Zip Code)

**<u>(248) 489-9300</u>**

Registrant's Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Common Shares, without par value** | **SRI** | **New York Stock Exchange** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**ITEM 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On March 1, 2023, Stoneridge, Inc. (the "Company") issued a press release announcing its results for the fourth quarter and full-year ended December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1. On March 2, 2023, members of the Company's management will hold a full-year and fourth quarter 2022 earnings conference call to discuss the Company's financial results and the presentation attached hereto as Exhibit 99.2, will accompany management's comments.

The press release and earnings conference call presentation contain certain non-GAAP financial measures, including Adjusted Sales, Adjusted Gross Profit and Margin, Adjusted Operating Income (Loss) and Margin, Adjusted Income (Loss) Before Tax, Adjusted Net Income (Loss), Adjusted Earnings (Loss) per Share ("Adjusted EPS"), Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Income Tax Expense and Adjusted Tax Rate (collectively, the "Non-GAAP Financial Measures"). Management believes that the presentation of the Non-GAAP Financial Measures used in the press release and earnings conference call presentation are useful to both management and investors in their analysis of the Company's financial position, results of operations and expected results of operations because the Non-GAAP Financial Measures facilitate a period to period comparison of operating results by excluding significant unusual, non-recurring items in 2022 and 2021. For 2022, these items relate to the sales from spot purchase recoveries, after-tax and pre-tax Brazilian indirect tax credits, net, after-tax and pre-tax business realignment costs, after-tax write-off of deferred financing fees and reclassified non-operating net gain related to net investment hedge. For 2021, these items relate to sales from spot purchase recoveries, the pre-tax gain from disposal of Soot Sensor Business, pre-tax sale of Soot Sensor product inventory, pre-tax environmental remediation costs, sales from disposed Soot Sensor Business, pre-tax operating income from disposed Soot Sensor Business, pre-tax operating gain from disposed Soot Sensor Business, EPS attributable to disposed Soot Sensor Business, per-tax gain on sale of Canton facility, pre-tax Brazilian indirect tax credits, net, pre-tax change in fair value of the earn-out consideration related to the acquisition of the remaining 26% minority interest in Stoneridge Brazil, pre-tax Stoneridge Brazil TSA and monetary correction, pre-tax gain from disposal of MSIL joint venture, after-tax and pre-tax business realignment costs and pre-tax restructuring costs. These non-GAAP financial measures, however, should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. Investors are cautioned that non-GAAP financial measures used by the Company may not be comparable to non-GAAP financial measures used by other companies. Adjusted Sales, Adjusted Gross Profit and Margin, Adjusted Operating Income (Loss) and Margin, Adjusted Income (Loss) Before Tax, Adjusted Net Income (Loss), Adjusted EPS, EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Income Tax Expense and Adjusted Tax Rate should not be considered a substitute for Sales, Gross Profit, Operating Income (Loss), Income (Loss) Before Tax, Net Income (Loss), Earnings (Loss) per Share, Income Tax Expense or Tax Rate prepared in accordance with GAAP.

**ITEM 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

The information set forth in Item 2.02 above is hereby incorporated herein by reference.

The information in this report, including the press release and the earnings conference call presentation furnished as Exhibits 99.1 and 99.2 hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. In addition, the exhibits furnished herewith contain statements intended as "forward-looking statements" that are subject to the cautionary statements about forward-looking statements set forth in such exhibits.

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**ITEM 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| <u>[99.1](sri-20230301xexx991earning.htm)</u> | <u>[Press release dated March 1, 2023, announcing results for the fourth quarter and full-year ended December 31, 2022](sri-20230301xexx991earning.htm)</u> |
| <u>[99.2](q42022earningspresentati.htm)</u> | <u>[Full-year and fourth quarter 2022 results earnings conference call presentation materials, dated March 1, 2023](q42022earningspresentati.htm)</u> |
| 104 | Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| | **Stoneridge, Inc.** |
| Date: March 1, 2023 | /s/ Matthew R. Horvath |
| | Matthew R. Horvath<br>Chief Financial Officer and Treasurer<br>(Principal Financial Officer) |

---

## Exhibit 99.1

**<br>Exhibit 99.1**

![tm2229541d1_ex99-1img01a.jpg](tm2229541d1_ex99-1img01a.jpg)

FOR IMMEDIATE RELEASE

**Stoneridge Reports Fourth Quarter and Full-Year 2022 Results**

***ESTABLISHES 2023 MIDPOINT REVENUE GUIDANCE OF $975 MILLION (15.9% GROWTH VS. 2022) AND MIDPOINT EBITDA MARGIN EXPANSION OF 210 BASIS POINTS OVER 2022***

**ESTABLISHES 2027 REVENUE TARGET OF $1.3 - $1.5 BILLION**

 **AND EBITDA MARGIN TARGET OF 11.5% - 13.5%**

**<u>2022 Fourth Quarter Results</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Sales of $231.2 million**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Adjusted sales of $225.2 million (5.2% growth over Q3 2022)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Gross profit of $45.5 million (19.7% of sales, 20.2% of adjusted sales)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Operating income of $6.0 million (2.6% of sales, 2.7% of adjusted sales)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **EBITDA of $11.1 million (4.9% of adjusted sales)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Earnings per diluted share ("EPS") of $0.01**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Results include $3.7 million ($0.10 EPS) non-operating income correction related to prior quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ EPS of $0.11 excluding non-operating prior quarter correction**

**<u>2023 Guidance</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted EPS of $(0.10) - $0.10 (break-even midpoint)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted sales of $960.0 - $990.0 million** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted gross margin of 20.5% - 21.25%** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted operating margin of 1.5% - 2.25%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Adjusted EBITDA margin of 5.3% - 5.9% ($50.9 - $58.4 million)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Tax expense of $4.5 to $5.5 million**

**<u>2027 Targets</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Sales target of $1.3 - $1.5 billion**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**◦ Backlog growth of 6% year-over-year from $3.4 billion to $3.6 billion**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• EBITDA margin target of 11.5% - 13.5% ($175.0 million at the midpoint of targets)** 

NOVI, Mich. – March 1, 2023 – Stoneridge, Inc. (NYSE: SRI) today announced financial results for the fourth quarter and full-year ended December 31, 2022, with fourth quarter sales of $231.2 million and earnings per share of $0.01 and full-year sales of $899.9 million with loss per share of $(0.52). Adjusted sales for the fourth quarter and full-year were $225.2 million and $841.5 million, respectively.

Fourth quarter results included a $3.7 million, or ($0.10) earnings per share, adjustment to non-operating income related to a prior quarter correction. As reported in the second quarter of 2022, the Company unwound two net investment hedges driven by favorable foreign currency movements and recognized a net gain to other non-operating income of approximately $3.7 million, or earnings per share of $0.10. In the fourth quarter, the Company determined the gain had been incorrectly recognized as other non-operating income and reclassified

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the gain to other comprehensive loss. The Company received $3.8 million in cash in the second-quarter as part of the settlement, which was properly accounted for on the balance sheet and statement of cash flows.

Sales were adjusted to normalize the impact of electronic component spot buys recovered from customers of $6.0 million for the fourth quarter of 2022 and $58.4 million for the full-year 2022. The exhibits attached hereto provide reconciliation detail on this and all other normalizing adjustments of Non-GAAP financial measures used in this press release.

For the fourth quarter of 2022, Stoneridge reported gross profit of $45.5 million (19.7% of sales, 20.2% of adjusted sales). Operating income was $6.0 million (2.6% of sales and 2.7% of adjusted sales). EBITDA was $11.1 million (4.9% of adjusted sales). Excluding the impact of the prior quarter correction, EBITDA was $14.8 million (6.6% of adjusted sales), a $3.7 million and 100 basis point improvement over the third quarter.

For the full year of 2022, Stoneridge reported gross profit of $174.9 million (19.4% of sales, 20.8% of adjusted sales). Operating income was $2.9 million (0.3% of sales) and adjusted operating income was $2.7 million (0.3% of adjusted sales), a 190 basis point improvement over 2021. Adjusted EBITDA was $29.8 million (3.5% of adjusted sales), a 30 basis point improvement over 2021.

Jim Zizelman, president and chief executive officer, commented, "During the fourth quarter we continued to experience volatility in several of our primary end-markets. Rising COVID-19 infections in China and continued production volatility with our North American passenger car customers led to reduced fourth quarter production. We also had material constraints that reduced sales in our off-highway business that limited our ability to meet our expectations for reducing short-term backlog as quickly as we had previously expected. That said, these issues appear to be easing as we move into 2023, and we are beginning to recoup some of the production losses we saw in the fourth quarter."

Zizelman continued, "Despite continued macroeconomic challenges in 2022, we believe we successfully managed the volatility and set ourselves up for stronger performance in 2023. We negotiated significant price increases with our customers to offset material and labor cost headwinds we continued our focus on cost management and operational efficiencies that will contribute to improved operating performance in 2023."

**<u>Fourth Quarter in Review</u>**

Control Devices sales totaled $85.9 million, an increase of 7.6% relative to adjusted sales excluding the impact of the divested business in the fourth quarter of 2021. This was primarily due to customer price increases and incremental revenue from new programs, as well as higher sales volumes in the North America commercial vehicle end-market. This growth was partially offset by reductions in customer production volumes in the North America passenger vehicle end-market and demand reductions resulting from COVID-19 related shutdowns in China impacting the fourth quarter of 2022. Fourth quarter operating margin was 6.4%, a 140 basis point improvement relative to adjusted operating margin, excluding the divested soot sensor business, in the fourth quarter of 2021, primarily due to lower SG&A costs.

Control Devices sales decreased by 3.9% compared to the third quarter of 2022, primarily due to lower sales in the North America passenger vehicle end-market and China passenger vehicle end-market. This decline was partially offset by incremental revenue from actuation programs and incremental pricing. Fourth quarter operating margin decreased by 200 basis points relative to the third quarter of 2022, primarily due to higher material costs driven by an unfavorable sales mix.

Electronics adjusted sales totaled $134.8 million, an increase of 39.7% relative to sales in the fourth quarter of 2021. This was driven by higher sales volumes in the European and North American commercial vehicle and off-highway end-markets, customer price increases and the ramp-up of new program launches. This growth was partially offset by an unfavorable foreign currency translation impact of $7.9 million. Fourth quarter operating margin was 3.7%, an improvement of 860 basis points relative to the fourth quarter of 2021 primarily due

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increased contribution margin from higher sales and incremental pricing as well as lower SG&A and D&D spend, offset by an increase in material costs due to supply chain constraints.

Relative to the third quarter of 2022, Electronics adjusted sales increased 15.0%, primarily due to higher sales volumes in the European commercial vehicle and off-highway end-markets, expansion of recently launched programs and pricing actions. This growth was partially offset by an unfavorable foreign currency impact of $1.5 million. Fourth quarter operating margin decreased 90 basis points relative to the third quarter of 2022, primarily due to higher material and labor costs partially offset by the favorable foreign currency impact of approximately $1.2 million, reduced SG&A spend and fixed cost leverage on incremental sales.

Stoneridge Brazil sales were $13.1 million, a decrease of 6.7% relative to sales in the fourth quarter of 2021, primarily due to lower sales in most product lines offset by favorable foreign currency translation of $0.9 million. Fourth quarter adjusted operating margin was 6.0%, an improvement of 350 basis points, primarily due to favorable product mix.

Relative to the third quarter of 2022, Stoneridge Brazil sales decreased by $0.8 million. Stoneridge Brazil adjusted operating margin decreased by 100 basis points relative to the third quarter of 2022 primarily due to recognizing indirect tax credits in the third quarter.

**<u>Cash and Debt Balances</u>**

As of December 31, 2022, Stoneridge had cash and cash equivalents balances totaling $54.8 million. Total debt as of December 31, 2022 was $169.3 million. Net debt was reduced by $21.7 million in the fourth quarter to $114.5 million as of December 31, 2022.

On March 1, 2023, the Company entered into Amendment No. 4 to our credit facility that provides for certain financial covenant relief for the first and second quarters of 2023. This amendment to the credit facility modified the covenant ratios for the first and second quarter of 2023 to include a maximum 4.75x and 4.25x leverage ratio respectively. This amendment also modified the minimum interest coverage covenant for the first two quarters of 2023 to 3.0x.

The Company continues to focus on operating performance and working capital improvement to drive cash performance. As a result, the Company expects that the net debt to EBITDA ratio will return to a more normalized level by the end of 2023 and is targeting a long-term net debt to EBITDA leverage ratio under 2.5x.

**<u>2023 and Future Outlook</u>**

Zizelman commented, "MirrorEye has continued to accelerate and will start to deliver significant results for the Company during 2023. Despite a continued challenging macroeconomic environment, over the past several years we invested tens of millions of dollars to develop MirrorEye, a truly industry-changing technology. Our first OEM MirrorEye program continues to outperform original expectations with a take-rate of approximately 40% compared to the original customer communicated take-rate of 16%. Our next MirrorEye program launches in North America in the second quarter of this year and based on the momentum we are seeing for the first OEM program, we believe there is upside to the take-rate assumption in 2023. Our second European OEM partner, with a program launching in 2024, recently increased their forecasted take-rate from 25% to approximately 45% based on expected market demand. We are also seeing continued growth in our retrofit market for MirrorEye in North America. As an example, earlier this week, we announced a partnership with KLLM Transport and Frozen Food Express, outlining their intent to include MirrorEye on 1,000 of their new and existing vehicles. This is just one example of the many fleets Stoneridge continues to work with to expand MirrorEye in North America. We have a number of reasons why we believe that our MirrorEye technology will expand much further in the industry. For instance, we also just announced a partnership with Grote Industries to bring our innovative

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camera technology to the commercial vehicle trailer market. This expansion not only builds on our existing MirrorEye platform, but also drives our overall cabin digitization strategy."

Zizelman added, "In Control Devices we continue to focus on growing our core product portfolio, particularly in our global actuation business, to align with industry megatrends supporting our target of being 90%+ drivetrain agnostic in the next five years over our entire product portfolio."

The Company announced 2023 adjusted sales guidance of $960.0 million to $990.0 million. Further, the Company announced 2023 adjusted gross margin guidance of 20.5% to 21.25%, adjusted operating margin guidance of 1.5% to 2.25% and adjusted EBITDA of $50.9 million to $58.4 million or 5.3% - 5.9% of adjusted sales.

Matt Horvath, chief financial officer, commented, "Our midpoint revenue guidance of $975.0 million resulting in approximately 16% growth relative to 2022 or approximately 13x the weighted average growth of our end-markets. We expect a gross margin of between 20.5% and 21.25%. As is typical, we expect our gross margin profile to continue to improve as newly launched programs mature. Driven primarily by our significant expected revenue growth and continued focus on cost control, we expect EBITDA margin expansion of 180 to 240 basis points relative to 2022."

The Company also announced adjusted earnings per share guidance of $(0.10) to $0.10 and an expected tax expense of $4.5 million - $5.5 million.

Horvath continued, "With respect to adjusted earnings per share, we are expecting incremental contribution on revenue growth inline with our historical average of 25% - 30%. Partially offsetting the benefit of the Company's growth in 2023 is meaningfully higher labor costs. We are expecting annual inflationary labor adjustment above historical levels creating a significant headwind to expected earnings performance this year. Finally, we expect incremental interest expense of approximately $5.5 million, or approximately ($0.15) of adjusted EPS, due to higher interest rates and somewhat higher average debt outstanding as compared to 2022. This results in adjusted EPS guidance of $(0.10) to $0.10 for 2023."

Horvath concluded, "Moving forward, we expect the impact of new program launches and expansion of existing programs to drive significant growth. We have updated our long-term revenue target to $1.3 billion to $1.5 billion by 2027 which reflects a midpoint compound annual growth rate of approximately 9.5%. This is supported by a $3.6 billion backlog which grew 6% relative to 2021. Driven by incremental contribution margins, continued margin recovery actions, favorable mix related to our aftermarket products and continued leverage on our existing cost structure, we are targeting an EBITDA margin of 11.5% to 13.5% by 2027. Stoneridge remains well positioned to significantly outperform our underlying markets and drive significant margin expansion resulting in long-term shareholder value creation."

**<u>Conference Call on the Web</u>**

A live Internet broadcast of Stoneridge's conference call regarding 2022 fourth quarter and full-year results can be accessed at 9:00 a.m. Eastern Time on Thursday, March 2, 2023, at <u>www.stoneridge.com</u>, which will also offer a webcast replay.

**<u>About Stoneridge, Inc.</u>**

Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at <u>www.stoneridge.com</u>.

**<u>Forward-Looking Statements</u>**

Statements in this press release contain "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this report and may include statements

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regarding the intent, belief or current expectations of the Company, with respect to, among other things, our (i) future product and facility expansion, (ii) acquisition strategy, (iii) investments and new product development, (iv) growth opportunities related to awarded business, and (v) operational expectations. Forward-looking statements may be identified by the words "will," "may," "should," "designed to," "believes," "plans," "projects," "intends," "expects," "estimates," "anticipates," "continue," and similar words and expressions. The forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by the statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among other factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our suppliers to supply us with parts and components at competitive prices on a timely basis, including the impact of potential tariffs and trade considerations on their operations and output;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in the cost and availability of key materials (including semiconductors, printed circuit boards, resin, aluminum, steel and copper) and components and our ability to offset cost increases through negotiated price increases with our customers or other cost reduction actions, as necessary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• global economic trends, competition and geopolitical risks, including impacts from the ongoing conflict between Russia and Ukraine and the related sanctions and other measures, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of COVID-19, or other future pandemics, on the global economy, and on our customers, suppliers, employees, business and cash flows;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the reduced purchases, loss or bankruptcy of a major customer or supplier;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the costs and timing of business realignment, facility closures or similar actions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a significant change in automotive, commercial, off-highway or agricultural vehicle production;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competitive market conditions and resulting effects on sales and pricing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• foreign currency fluctuations and our ability to manage those impacts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• customer acceptance of new products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to successfully launch/produce products for awarded business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse changes in laws, government regulations or market conditions, including tariffs, affecting our products or our customers' products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to protect our intellectual property and successfully defend against assertions made against us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• labor disruptions at our facilities or at any of our significant customers or suppliers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• business disruptions due to natural disasters or other disasters outside of our control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount of our indebtedness and the restrictive covenants contained in the agreements governing our indebtedness, including our revolving Credit Facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• capital availability or costs, including changes in interest rates or market perceptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the failure to achieve the successful integration of any acquired company or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks related to a failure of our information technology systems and networks, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber-attack and other similar disruptions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the items described in Part I, Item IA ("Risk Factors") of our 10-K filed with the SEC.

The forward-looking statements contained herein represent our estimates only as of the date of this release and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements or otherwise.

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**<u>Use of Non-GAAP Financial Information</u>**

This press release contains information about the Company's financial results that is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this press release. The provision of these non-GAAP financial measures for 2022 and 2021 is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non-GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this press release and the adjustments that management can reasonably predict.

Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company's financial position and results of operations. In particular, management believes that adjusted sales, adjusted gross income and margin, adjusted operating income (loss) and margin, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA, adjusted EBITDA margin, adjusted income before tax, adjusted income tax expense and adjusted tax rate are useful measures in assessing the Company's financial performance by excluding certain items that are not indicative of the Company's core operating performance or that may obscure trends useful in evaluating the Company's continuing operating activities. Management also believes that these measures are useful to both management and investors in their analysis of the Company's results of operations and provide improved comparability between fiscal periods.

Adjusted sales, adjusted gross income and margin, adjusted operating income (loss) and margin, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA, adjusted EBITDA margin, adjusted income before tax and adjusted tax rate should not be considered in isolation or as a substitute for sales, gross profit, operating income (loss), net income (loss), earnings per share, income before tax, income tax expense, tax rate, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP.

For more information, contact Kelly K. Harvey, Director Investor Relations (<u>Kelly.Harvey@Stoneridge.com</u>).

------

**CONDENSED CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
| **December 31, (in thousands)** | **2022** | **2021** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $**54798** | $85547 |
| &nbsp;&nbsp;Accounts receivable, less reserves of $962 and $1,443, respectively | **158155** | 150388 |
| &nbsp;&nbsp;Inventories, net | **152580** | 138115 |
| &nbsp;&nbsp;Prepaid expenses and other current assets | **44018** | 36774 |
| Total current assets | **409551** | 410824 |
| Long-term assets: |  |  |
| &nbsp;&nbsp;Property, plant and equipment, net | **104643** | 107901 |
| &nbsp;&nbsp;Intangible assets, net | **45508** | 49863 |
| &nbsp;&nbsp;Goodwill | **34225** | 36387 |
| &nbsp;&nbsp;Operating lease right-of-use asset | **13762** | 18343 |
| &nbsp;&nbsp;Investments and other long-term assets, net | **44416** | 42081 |
| Total long-term assets | **242554** | 254575 |
| Total assets | $**652105** | $665399 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;Current portion of debt | $**1450** | $5248 |
| &nbsp;&nbsp;Accounts payable | **110202** | 97679 |
| &nbsp;&nbsp;Accrued expenses and other current liabilities | **66040** | 70139 |
| Total current liabilities | **177692** | 173066 |
| Long-term liabilities: |  |  |
| &nbsp;&nbsp;Revolving credit facility | **167802** | 163957 |
| &nbsp;&nbsp;Deferred income taxes | **8498** | 10706 |
| &nbsp;&nbsp;Operating lease long-term liability | **10594** | 14912 |
| &nbsp;&nbsp;Other long-term liabilities | **6577** | 6808 |
| Total long-term liabilities | **193471** | 196383 |
| Shareholders' equity: |  |  |
| &nbsp;&nbsp;Preferred Shares, without par value, 5,000 shares authorized, none issued | **-** | - |
| &nbsp;&nbsp;Common Shares, without par value, 60,000 shares authorized, 28,966 and 28,966 shares issued and 27,341 and 27,191 shares outstanding at December 31, 2022 and December 31, 2021, respectively, with no stated value | **-** | - |
| &nbsp;&nbsp;Additional paid-in capital | **232758** | 232490 |
| &nbsp;&nbsp;Common Shares held in treasury, 1,625 and 1,775 shares at December 31, 2022 and December 31, 2021, respectively, at cost | **(50366)** | (55264) |
| &nbsp;&nbsp;Retained earnings | **201692** | 215748 |
| &nbsp;&nbsp;Accumulated other comprehensive loss | **(103142)** | (97024) |
| Total shareholders' equity | **280942** | 295950 |
| Total liabilities and shareholders' equity | $**652105** | $665399 |

---

------

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

---

| | | | |
|:---|:---|:---|:---|
| **Year ended December 31, (in thousands, except per share data)** | **2022** | **2021** | **2020** |
| Net sales | $**899923** | $770462 | $648006 |
| Costs and expenses: |  |  |  |
| &nbsp;&nbsp;Cost of goods sold | **724997** | 603604 | 493810 |
| &nbsp;&nbsp;Selling, general and administrative | **106695** | 116000 | 112474 |
| &nbsp;&nbsp;Gain on sale of Canton Facility, net | **—** | (30718) |  |
| &nbsp;&nbsp;Design and development | **65296** | 66165 | 49386 |
| Operating income (loss) | **2935** | 15411 | (7664) |
| &nbsp;&nbsp;Interest expense, net | **7097** | 5189 | 6124 |
| &nbsp;&nbsp;Equity in loss (earnings) of investee | **823** | (3658) | (1536) |
| &nbsp;&nbsp;Other expense (income), net | **5711** | 1444 | (1528) |
| (Loss) income before income taxes | **(10696)** | 12436 | (10724) |
| Provision (benefit) for income taxes | **3360** | 9030 | (2774) |
| Net (loss) income | $**(14056)** | $3406 | $(7950) |
| (Loss) earnings per share: |  |  |  |
| &nbsp;&nbsp;Basic | $**(0.52)** | $0.13 | $(0.29) |
| &nbsp;&nbsp;Diluted | $**(0.52)** | $0.12 | $(0.29) |
| Weighted-average shares outstanding: |  |  |  |
| &nbsp;&nbsp;Basic | **27258** | 27114 | 27025 |
| &nbsp;&nbsp;Diluted | **27258** | 27416 | 27025 |

---

------

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

---

| | | | |
|:---|:---|:---|:---|
| **Year ended December 31, (in thousands)** | **2022** | **2021** | **2020** |
| **OPERATING ACTIVITIES:** |  |  |  |
| Net (loss) income | $**(14056)** | $3406 | $(7950) |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | **26687** | 27823 | 27309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization, including accretion and write-off of deferred financing costs | **8055** | 6648 | 5926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | **(5110)** | (511) | (7953) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (earnings) of equity method investee | **823** | (3658) | (1536) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on sale of fixed assets | **(241)** | (165) | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | **5942** | 5960 | 5888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Excess tax deficiency (benefit) related to share-based compensation expense | **543** | (563) | (46) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of Canton Facility, net | **—** | (30718) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposal of business and joint venture, net | **—** | (2942) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment impairment charge | **33** |  | 2349 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of earn-out contingent consideration | **—** | 2065 | (3196) |
| Changes in operating assets and liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | **(13161)** | (17019) | 4164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | **(20127)** | (51270) | 4000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | **(5159)** | (5116) | 1342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | **18489** | 16515 | 3642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | **4088** | 13297 | (5483) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used for) operating activities | **6806** | (36248) | 28641 |
| **INVESTING ACTIVITIES:** |  |  |  |
| Capital expenditures, including intangibles | **(31609)** | (27031) | (32462) |
| Proceeds from sale of fixed assets | **158** | 268 | 127 |
| Proceeds from settlement of net investment hedges | **3820** | - |  |
| Proceeds from disposal of business, net | **—** | 1837 |  |
| Proceeds from disposal of joint venture, net | **—** | 20999 |  |
| Proceeds from sale of Canton Facility, net | **—** | 35167 |  |
| Investment in venture capital fund, net | **(950)** | (3199) | (1550) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used for) provided by investing activities | **(28581)** | 28041 | (33885) |
| **FINANCING ACTIVITIES:** |  |  |  |
| Revolving credit facility borrowings | **21562** | 91913 | 71500 |
| Revolving credit facility payments | **(18000)** | (64000) | (61500) |
| Proceeds from issuance of debt | **38940** | 45753 | 41104 |
| Repayments of debt | **(42732)** | (48125) | (37823) |
| Earn-out consideration cash payment | **(6276)** |  |  |
| Common Share repurchase program | **—** |  | (4995) |
| Repurchase of Common Shares to satisfy employee tax withholding | **(791)** | (2665) | (1773) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used for) provided by financing activities | **(7297)** | 22876 | 6513 |
| Effect of exchange rate changes on cash and cash equivalents | **(1677)** | (3041) | 3247 |
| Net change in cash and cash equivalents | **(30749)** | 11628 | 4516 |
| Cash and cash equivalents at beginning of period | **85547** | 73919 | 69403 |
| Cash and cash equivalents at end of period | $**54798** | $85547 | $73919 |
| Supplemental disclosure of cash flow information: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest | $**7293** | $6055 | $5620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes, net | $**6178** | $11267 | $(254) |
| Supplemental disclosure of non-cash activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Adoption of ASU 2019-12 (Note 2) | $**—** | $— | $13750 |

---

------

**Regulation G Non-GAAP Financial Measure Reconciliations**

**Reconciliation to US GAAP**

**<u>Exhibit 1 - Adjusted EPS</u>**

**Reconciliation of 2022 Adjusted EPS**

---

| | | |
|:---|:---|:---|
| *(USD in millions)* | **2022** | **2022 EPS** |
| **Net Loss** | $**(14.1)** | $**(0.52)** |
| Add: After-Tax Write-off of Deferred Financing Fees | 0.4 | 0.01 |
| Add: After-Tax Brazilian Indirect Tax Credits, net | (0.6) | (0.02) |
| Add: After-Tax Business Realignment Costs | 0.2 | 0.01 |
| **Adjusted Net Loss** | $**(14.1)** | $**(0.52)** |

---

**<u>Exhibit 2 – Reconciliation of Adjusted EBITDA</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q1 2022** | **Q2 2022** | **Q3 2022** | **Q4 2022** | **2022** |
| **Income (Loss) Before Tax** | $**(3.9)** | $**12.4** | $**(6.2)** | $**(6.9)** | $**1.7** | $**0.7** | $**(10.7)** |
| Interest expense, net | 0.1 | 5.2 | 1.8 | 1.2 | 1.8 | 2.2 | 7.1 |
| Depreciation and amortization | 8.7 | 33.9 | 8.7 | 8.5 | 8.3 | 8.2 | 33.7 |
| **EBITDA** | $**5.0** | $**51.5** | $**4.3** | $**2.8** | $**11.8** | $**11.1** | $**30.1** |
| Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) | 0.6 | 2.1 |  |  |  |  |  |
| Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) | (1.1) | (1.1) |  |  |  |  |  |
| Less: Pre-Tax Gain from Disposal of MSIL Joint Venture | (1.8) | (1.8) |  |  |  |  |  |
| Add: Pre-Tax Restructuring Costs | 0.1 | 2.5 |  |  |  |  |  |
| Less: Pre-Tax Gain on Sale of Canton Facility |  | (30.7) |  |  |  |  |  |
| Add: Pre-Tax Business Realignment Costs | 0.0 | 1.4 | 0.0 |  | 0.3 |  | 0.3 |
| Add: Pre-Tax Brazilian Indirect Tax Credits, Net |  | 0.6 |  | (0.6) |  |  | (0.6) |
| Less: Pre-Tax Gain from Disposal of Soot Sensor Business | (0.4) | (1.1) |  |  |  |  |  |
| Less: Pre-Tax Sale of Soot Sensor Product Inventory | 0.1 | 0.0 |  |  |  |  |  |
| Add: Pre-Tax Environmental Remediation Costs |  | 0.4 |  |  |  |  |  |
| **Adjusted EBITDA** | $**2.4** | $**23.7** | $**4.3** | $**2.3** | $**12.1** | $**11.1** | $**29.8** |

---

------

**<u>Exhibit 3 – Adjusted Gross Profit</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Gross Profit** | $**41.9** | $**166.9** | $**49.4** | $**45.5** | $**174.9** |
| Add: Pre-Tax Restructuring Costs | 0.1 | 1.6 |  |  |  |
| Less: Pre-Tax Sale of Soot Sensor Product Inventory |  | (0.1) |  |  |  |
| **Adjusted Gross Profit** | $**42.0** | $**168.4** | $**49.4** | $**45.5** | $**174.9** |

---

**<u>Exhibit 4 - Adjusted Operating Income</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Operating Income (Loss)** | $**(4.4)** | $**15.4** | $**5.9** | $**6.0** | $**2.9** |
| Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) | 0.6 | 2.1 |  |  |  |
| Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) | (1.1) | (1.1) |  |  |  |
| Less: Pre-Tax Gain from Disposal of MSIL Joint Venture | (1.8) | (1.8) |  |  |  |
| Add: Pre-Tax Restructuring Costs | 0.1 | 2.7 |  |  |  |
| Less: Pre-Tax Gain on Sale of Canton Facility |  | (30.7) |  |  |  |
| Add: Pre-Tax Business Realignment Costs | 0.0 | 1.4 | 0.3 |  | 0.3 |
| Add: Pre-Tax Brazilian Indirect Tax Credits, Net |  | 0.6 |  |  | (0.6) |
| Less: Pre-Tax Gain from Disposal of Soot Sensor Business | (0.4) | (1.1) |  |  |  |
| Add: Pre-Tax Sale of Soot Sensor Product Inventory | 0.1 | 0.0 |  |  |  |
| Add: Pre-Tax Environmental Remediation Costs |  | 0.4 |  |  |  |
| **Adjusted Operating Income (Loss)** | $**(7.0)** | $**(12.2)** | $**6.1** | $**6.0** | $**2.7** |

---

------

**<u>Exhibit 5 – Segment Adjusted Operating Income</u>**

**<u>Reconciliation of Control Devices Adjusted Operating Income</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Control Devices Operating Income** | $**4.8** | $**54.9** | $**7.5** | $**5.5** | $**23.9** |
| Add: Pre-Tax Restructuring Costs | 0.1 | 2.3 |  |  |  |
| Less: Pre-Tax Gain on Sale of Canton Facility |  | (30.7) |  |  |  |
| Less: Pre-Tax Gain from Disposal of Soot Sensor Business | (0.4) | (1.1) |  |  |  |
| Add: Pre-Tax Business Realignment Costs |  | 0.2 |  |  |  |
| Less: Pre-Tax Sale of Soot Sensor Product Inventory | 0.1 | 0.0 |  |  |  |
| Add: Pre-Tax Environmental Remediation Costs |  | 0.4 |  |  |  |
| **Control Devices Adjusted Operating Income** | $**4.5** | $**26.0** | $**7.5** | $**5.5** | $**23.9** |

---

**<u>Reconciliation of Electronics Adjusted Operating Income (Loss)</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Electronics Operating Income (Loss)** | $**(4.7)** | $**(12.5)** | $**5.4** | $**4.9** | $**5.1** |
| Add: Pre-Tax Restructuring Costs |  | 0.3 |  |  |  |
| Add: Pre-Tax Business Realignment Costs |  | 0.0 |  |  |  |
| **Electronics Adjusted Operating Income (Loss)** | $**(4.7)** | $**(12.2)** | $**5.4** | $**4.9** | $**5.1** |

---

**<u>Reconciliation of Stoneridge Brazil Adjusted Operating Income</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Stoneridge Brazil Operating Income (Loss)** | $**0.9** | $**1.0** | $**0.9** | $**0.8** | $**3.1** |
| Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) | 0.6 | 2.1 |  |  |  |
| Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) | (1.1) | (1.1) |  |  |  |
| Add: Pre-Tax Business Realignment Costs |  | 0.1 | 0.1 |  | 0.1 |
| Add: Pre-Tax Brazilian Indirect Tax Credits, Net |  | 0.6 |  |  | (0.6) |
| **Stoneridge Brazil Adjusted Operating Income** | $**0.3** | $**2.6** | $**1.0** | $**0.8** | $**2.7** |

---

------

**<u>Exhibit 6 – Reconciliation of Adjusted Sales</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Sales** | $**203.7** | $**770.5** | $**226.8** | $**231.2** | $**899.9** |
| Less: Pre-Tax Sale of Soot Sensor Product Inventory | (1.3) | (2.3) |  |  |  |
| Less: Sales from Spot Purchase Recoveries | $(17.6) | $(17.6) | $(12.8) | $(6.0) | $(58.4) |
| **Adjusted Sales** | $**184.7** | $**750.5** | $**214.0** | $**225.2** | $**841.5** |

---

**<u>Exhibit 7 – Reconciliation of Control Devices Adjusted Sales Excluding Disposed Soot Sensor Business</u>**

**<u>Reconciliation of Control Devices Adjusted Sales</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Control Devices Sales** | $**82.9** | $**359.3** | $**89.4** | $**85.9** | $**345.3** |
| Less: Pre-Tax Sale of Soot Sensor Product Inventory | (1.3) | (2.3) |  |  |  |
| **Control Devices Adjusted Sales** | $**81.6** | $**357.0** | $**89.4** | $**85.9** | $**345.3** |

---

**<u>Reconciliation of Control Devices Adjusted Sales Excluding Disposed Soot Sensor Business</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Control Devices Sales** | $**81.6** | $**357.0** | $**89.4** | $**85.9** | $**345.3** |
| Less: Sales from Disposed Soot Sensor Business | (1.8) | (10.3) |  |  |  |
| **Control Devices Adjusted Sales Excluding Disposed Soot Sensor Business** | $**79.9** | $**346.7** | $**89.4** | $**85.9** | $**345.3** |

---

**<u>Exhibit 8 – Control Devices Adjusted Operating Income Excluding Disposed Soot Sensor Business</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Control Devices Adjusted Operating Income** | $**4.5** | $**26.0** | $**7.5** | $**5.5** | $**23.9** |
| Less: Pre-Tax Operating Gain from Disposed Soot Sensor Business | (0.5) | (2.1) |  |  |  |
| **Control Devices Adjusted Operating Income Excluding Disposed Soot Sensor Business** | $**4.0** | $**23.9** | $**7.5** | $**5.5** | $**23.9** |

---

------

**<u>Exhibit 9 – Reconciliation of Electronics Adjusted Sales</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(USD in millions)* | **Q4 2021** | **2021** | **Q3 2022** | **Q4 2022** | **2022** |
| **Electronics Sales** | $**114.1** | $**384.1** | $**130.0** | $**140.7** | $**533.8** |
| Less: Sales from Spot Purchase Recoveries | (17.6) | (17.6) | (12.8) | (6.0) | (58.4) |
| **Electronics Adjusted Sales** | $**96.5** | $**366.5** | $**117.2** | $**134.8** | $**475.4** |

---

**<u>Exhibit 10 – Adjusted Tax Rate</u>**

**<u>Reconciliation of 2022 Adjusted Tax Rate</u>**

---

| | | |
|:---|:---|:---|
| *(USD in millions)* | **2022** | **Tax Rate** |
| **Loss Before Tax** | $**(10.7)** |  |
| Add: Pre-Tax Write-off of Deferred Financing Fees | 0.4 |  |
| Add: Pre-Tax Brazilian Indirect Tax Credits, net | (0.8) |  |
| Add: Pre-Tax Business Realignment Costs | 0.3 |  |
| **Adjusted Loss Before Tax** | $**(10.8)** |  |
| **Income Tax Expense** | **3.4** | **(31.4)%** |
| Add: Tax Impact from Pre-Tax Adjustments | (0.1) |  |
| **Adjusted Income Tax Expense** | $**3.3** | **(30.8)%** |

---

**<u>Exhibit 11 – Adjusted Results Excluding Prior Quarter Correction</u>**

**<u>Reconciliation of Adjusted EPS Excluding Prior Quarter Correction</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q1 2022** | **Q2 2022** | **Q3 2022** | **Q4 2022** | **2022** |
| **Adjusted EPS** | $**(0.27)** | $**(0.29)** | $**0.03** | $**0.01** | $**(0.52)** |
| Add: Reclassified non-operating net gain related to net investment hedge |  | (0.10) |  | 0.10 |  |
| **Adjusted EPS Ex. Prior Quarter Correction** | $**(0.27)** | $**(0.39)** | $**0.03** | $**0.11** | $**(0.52)** |

---

------

**<u>Reconciliation of Adjusted EBITDA Excluding Prior Quarter Correction</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q1 2022** | **Q2 2022** | **Q3 2022** | **Q4 2022** | **2022** |
| **Adjusted EBITDA** | $**4.3** | $**2.3** | $**12.1** | $**11.1** | $**29.8** |
| Add: Reclassified non-operating net gain related to net investment hedge |  | (3.7) |  | 3.7 |  |
| **Adjusted EBITDA Ex. Prior Quarter Correction** | $**4.3** | $**(1.4)** | $**12.1** | $**14.8** | $**29.8** |

---

## Exhibit 99.2

![](q42022earningspresentati001.jpg)

Full-Year and Q4 2022 Results March 2, 2023 Exhibit 99.1

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![](q42022earningspresentati002.jpg)

2 Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the impact of COVID-19, or other future pandemics, on the global economy, and on our customers, suppliers, employees, business and cash flows; the reduced purchases, loss or bankruptcy of a major customer or supplier; the costs and timing of facility closures, business realignment or similar actions; a significant change in automotive, commercial, off-highway and agricultural vehicle production; competitive market conditions and resulting effects on sales and pricing; our ability to successfully launch/produce products for awarded business; adverse changes in laws, government regulations or market conditions, including tariffs, affecting our products or customers products; labor disruptions at Stoneridge's facilities or at any of Stoneridge's significant customers or suppliers; the ability of suppliers to supply Stoneridge with parts and components at competitive prices on a timely basis; the amount of Stoneridge's indebtedness and the restrictive covenants contained in the agreements governing its indebtedness, including its revolving credit facility; customer acceptance of new products; capital availability or costs, including changes in interest rates or market perceptions; the failure to achieve successful integration of any acquired company or business; the occurrence or non-occurrence of circumstances beyond Stoneridge's control; and the items described in "Risk Factors" and other uncertainties or risks discussed in Stoneridge's periodic and current reports filed with the Securities and Exchange Commission. Important factors that could cause the performance of the commercial vehicle and automotive industry to differ materially from those in the forward-looking statements include factors such as (1) the ability of our suppliers to supply us with parts and components at competitive prices on a timely basis, including the impact of potential tariffs and trade considerations on their operations and output, (2) our ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions, (3) the impact of COVID-19, or other future pandemics, on the global economy, and on our customers, suppliers, employees, business and cash flows, (4) continued economic instability or poor economic conditions in the United States and global markets, (5) changes in economic conditions, housing prices, foreign currency exchange rates, commodity prices, including shortages of and increases or volatility in the price of oil, (6) changes in laws and regulations, (7) the state of the credit markets, (8) political stability, (9) international conflicts and (10) the occurrence of force majeure events. These factors should not be construed as exhaustive and should be considered with the other cautionary statements in Stoneridge's filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance; Stoneridge's actual results of operations, financial condition and liquidity, and the development of the industry in which Stoneridge operates may differ materially from those described in or suggested by the forward-looking statements contained in this presentation. In addition, even if Stoneridge's results of operations, financial condition and liquidity, and the development of the industry in which Stoneridge operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. This presentation contains time-sensitive information that reflects management's best analysis only as of the date of this presentation. Any forward-looking statements in this presentation speak only as of the date of this presentation, and Stoneridge undertakes no obligation to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. Stoneridge does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Rounding Disclosure: There may be slight immaterial differences between figures represented in our public filings compared to what is shown in this presentation. The differences are the result of rounding due to the representation of values in millions rather than thousands in public filings.

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3 Leadership Announcement Jim Zizelman appointed President and Chief Executive Officer ▸ Jim Zizelman was appointed President and Chief Executive Officer and member of the Stoneridge Board of Directors, effective January 30th ▸ Jim joined Stoneridge as President of the Control Devices division in April 2020 and has played an integral role in developing and executing the Company's strategic priorities, product development and technical vision for both Control Devices and Stoneridge more broadly ▸ Prior to joining Stoneridge, Jim was the Vice President of Engineering and Program Management for Aptiv, where he had overarching responsibility for the engineering function and supported the company's transition from Delphi. He spent more than 20 years leading a variety of technical and business teams for the Powertrain and Electronics divisions driving innovation, development and execution of all active safety, automated driving, and infotainment programs.

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4 Leadership Announcement Rajaey Kased appointed President of Control Devices ▸ Rajaey Kased was appointed as President of the Control Devices division effective January 30th ▸ Most recently, Rajaey was the Vice President of Sales and Product Line Management for the Control Devices division. During his three-year tenure with Stoneridge, he has helped establish and advance the division's strategies and priorities. ▸ Rajaey was responsible for overseeing a number of divestures of non-core business while shaping the Control Devices portfolio to capitalize on electrification growth ▸ Rajaey brings 18 years of Tier 1 automotive business acumen and experience in engineering, strategy, and sales ▸ Rajaey is responsible for leading the Control Devices driving flawless execution, product development, and the innovation growth strategy for Control Devices

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5 Overview of Achievements Q4 2022 Key Accomplishments and 2023 Expectations Q4 2022 Financial Performance 2022 Financial Performance and 2023 Guidance 2022 Reported 2022 Adjusted 2023 Guidance $899.9 million $841.5 million $960.0 million – $990.0 million (+$133.5m) $174.9 million 19.4% $174.9 million 20.8% 20.5% - 21.25% $2.9 million 0.3% $2.7 million 0.3% 1.5% - 2.25% (~+160 bps) $3.4 million (31.4%) $3.3 million (30.8%) $4.5 million - $5.5 million ($0.52) ($0.52) ($0.10) – $0.10 $30.1 million 3.3% $29.8 million 3.5% $50.9 million - $58.4 million (~+$28.5m) 5.3% - 5.9% (~+210 bps) Reported Adjusted Sales $231.2 million $225.2 million Gross Profit Margin $45.5 million 19.7% $45.5 million 20.2% Operating Income Margin $6.0 million 2.6% $6.0 million 2.7% Tax Expense Rate $0.5 million 67.2% $0.5 million 67.2% EPS $0.01 ($0.11 excluding prior quarter correction\*) $0.01 ($0.11 excluding prior quarter correction\*) EBITDA Margin $11.1 million 4.8% $11.1 million 4.9%  Excluding non-operating, FX related prior quarter correction of $0.10 – Q4 adjusted EPS of $0.11 increased by $0.08 vs. Q3  Midpoint 2023 revenue guidance of $975 million (15.9% growth vs. 2022) and EBITDA margin expansion of ~210 basis points  MirrorEye OEM take rates continue to be strong (at ~40%), second OEM program launching in North America in early Q2  Increasing take rate assumptions for 2nd European OEM award to ~45% based on updated customer forecasts – launching in 2024  Announced partnership with KLLM Transport Services / Frozen Food Express with intent to equip MirrorEye on 1,000 vehicles  Announced partnership with Grote Industries to introduce industry's first wired, rear-view trailer camera expanding vision platform to trailer  5-Year awarded business backlog increased 6% from $3.4 billion to $3.6 billion in 2022  Updated 5-year revenue target to $1.3 - $1.5 billion (~9.5% 5-year CAGR\*\*) and targeted EBITDA margin of 11.5% - 13.5% by 2027 \*Excluding prior quarter correction related to non-operating gain for the net investment hedge of $3.7 million ($0.10) \*\*Based on midpoint of 2023 revenue guidance and five-year long-term revenue target

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6 2022 Quarterly Comparison 2021\* vs. 2022 vs. 2023 Guidance Adjusted Sales Adjusted Gross Profit Adjusted Operating Income Adjusted EBITDA\*\* Expecting revenue growth to significantly outperform our underlying markets in 2023 Expecting EBITDA margin expansion of ~210 bps in 2023 $'s in USD Millions \*Excluding divested soot sensor products lines for comparison purposes \*\*Excluding non-operating net gain related to net investment hedge of $3.7 million that was originally recorded in Q2 and corrected in Q4 (net neutral full-year impact) Financial Summary $196.6 $205.7 $214.0 $225.2 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $4.3 $(1.4) $12.1 $14.8 2.2% -0.7% 5.6% 6.6% -3% 2% 7% 12% -5 5 15 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $740.2 $841.5 $975.00 FY 2021 FY 2022 2023 Guidance (Midpoint) $167.1 $174.9 $203.6 22.6% 20.8% 20.9% 19% 29% 100 150 200 250 FY 2021 FY 2022 2023 Guidance (Midpoint) $(14.3) $2.7 $18.3 -1.9% 0.3% 1.9% -3% -1% 1% 3% -20 0 20 FY 2021 FY 2022 2023 Guidance (Midpoint) $21.6 $29.8 $54.6 2.9% 3.5% 5.6% 1% 6% 0 20 40 60 FY 2021 FY 2022 2023 Guidance (Midpoint) $41.4 $38.6 $49.4 $45.5 21.1% 18.7% 23.1% 20.2% 13% 23% 33% 0 20 40 60 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $(3.0) $(6.5) $6.1 $6.0 -1.6% -3.2% 2.9% 2.7% -12% -2% 8% -10 -5 0 5 10 Q1 2022 Q2 2022 Q3 2022 Q4 2022

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7 MirrorEye Update MirrorEye investment starting to generate meaningful performance in 2023 as OEM outlooks continue to improve and retrofit applications continue to expand OEM Update ▸ First OEM program demand continues to be strong – current takes rates at ~40% ▸ First OEM program launching in North America in the second quarter of 2023 ▸ Based on updated customer forecasts, next OEM program launch in Europe expecting ~45% take rate (previously 25%) ▸ Expecting ~$40 million in MirrorEye OEM program revenue in 2023 vs. ~$25 million in 2022 Retrofit Update ▸ Continued ramp-up of MirrorEye retrofit activity with North American fleets ▸ Announced partnership with KLLM Transport Services / Frozen Food Express (~3,500 vehicles on the road) with intent to equip MirrorEye on 1,000 existing and new vehicles ▸ Expecting $20 million+ in MirrorEye retrofit and bus program revenue in 2023 vs. ~$9 million in 2022 ▸ Announcing partnership with Grote Industries to introduce industry's first wired, rear-view trailer camera Note: Take-rate = customer quoted volumes as a percent of total forecasted class 8 production volumes by customer. \*Based on customer quoted take rates at the time of the award. \*\*Peak annual revenue based on quoted pricing at the time of the award OEM Program Update OEM Program Expected Launch Timing Estimated Take Rate Estimated Peak Annual Revenue Program 1 Launched (EU) ~40% $42M+ Program 2 Q2 2023 (NA) ~10%\* $14M\*\* Program 3 H1 2024 (EU) Q1 2025 (NA) ~45% (EU) ~5-10% (NA)\* $60M $7M\*\* Program 4 Q1 2025 (NA) <5%\* $4M\*\*

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8 ▸ 5-year Backlog growth of 6% from prior year • Increased take-rate for first MirrorEye OEM program in Europe from ~16% to ~40% based on current production • Increased take-rate for next MirrorEye launch in Europe from ~25% to ~45% based on current customer forecasts • Continued ramp-up and expansion of digital driver information system programs in Europe and Brazil • Continued ramp-up and expansion of actuation programs globally, including park-by-wire programs on hybrid and fully electric vehicles • Expanding connectivity products, including SMART2 tachograph launch in Europe in 2023 Backlog grew by 6% in 2022 driven by increased MirrorEye take-rates, expansion of existing programs and new business awards Based on December 2022 IHS LVP and Q4 2022 IHS MCVP; Company Data and Management estimates Based on Management estimates and pricing agreements as of 12/31/22 on awarded programs Backlog Awarded Business: 2023 - 2027 $'s in USD Millions $3,000 ($63M) ($173M) $3,370M $3,190M ($690) $1,153M $3,596M

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9 Long-term Targets Targeting $1.3 to $1.5 billion in revenue and a 11.5% - 13.5% EBITDA margin by 2027 5-Year CAGR of ~9.5% expected to outpace underlying market growth by ~2.7x Long-Term Revenue Target Long-Term EBITDA Target ▸ Contribution margin on incremental revenue expected to be 25% - 30% ▸ Focused on expanding gross margin through strong execution and ongoing material cost recovery strategies ▸ Targeting increased engineering capacity and capability through continued transformation of global engineering footprint and more cost-efficient structure ▸ Focused on leveraging existing cost structure to improve operating margin with growth ▸ Awarded OEM business and aftermarket opportunities expected to drive ~9.5% CAGR\* based on midpoint of targeted $1.3 billion to $1.5 billion revenue in 2027 (~2.7x\* market growth) ▸ Backlog supports target of 90%+ drivetrain agnostic revenue by 2027 5.3% - 5.9% $50.9M - $58.4M ~$150M - $200M 11.5% - 13.5% $1.3B - $1.5B $960M -$990M \*Based on midpoint of 2023 revenue guidance and five-year long-term revenue target

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10 2023 Key to Success – Stoneridge Strategy ▸ Grow core product portfolio aligned with industry trends Control Devices ▸ Drive advanced technology development ▸ Execute on program launches ▸ Expand MirrorEye® opportunities Electronics Stoneridge Brazil ▸ Grow local OEM business ▸ Expand cost-efficient engineering capabilities to support the global business Flawless program launches to ensure quality, consistency and financial performance Focused structural cost control to optimize capabilities and operating performance Strict, process-driven execution to optimize gross margin Execution Cost ControlProgram Launches Stoneridge Priorities Drive Sustainable Performance… ~9.5% Sales CAGR 2023 – 2027\* 11.5% – 13.5% EBITDA Margin by 2027 …and Support Long-Term Targets \*Based on midpoint of 2023 revenue guidance and five-year long-term revenue target

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11 Summary 2022 Summary  Consistent revenue growth and EBITDA margin expansion throughout the year despite challenging macroeconomic conditions  Successfully passed through a significant portion of incremental material costs – cost recovery actions expected to continue as material costs and manufacturing costs remain elevated  MirrorEye momentum continues to accelerate – OEM take-rates increasing and retrofit applications expanding  Current production program take-rate ~40%  Launching 1st North American program in Q2 2023  2nd European program launch take-rate increased from 25% to 45% based on updated customer forecasts  Expanding vision and safety platform with Grote Industries partnership to introduce industry's first wired, rear-view trailer camera Forward Outlook  Targeting $1.3 to $1.5 billion by 2027  Backlog growth of 6% year-over-year continues to support strong medium and long-term growth targets  Targeting 11.5% - 13.5% EBITDA margin by 2027  ~$175 million of EBITDA at midpoint of long-term targets by 2027 Continuing to execute on well-defined long-term strategy focused on sustainable, profitable growth

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12 Financial Update

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13 2022 Fourth Quarter Results Adjusted sales of $225.2 million, an increase of 5.2% over Q3 2022 • Control Devices sales of $85.9 million, a decrease of 3.9% from Q3 2022 • Electronics adjusted sales of $134.8 million, an increase of 15.0% over Q3 2022 • Stoneridge Brazil sales of $13.1 million, a decrease of 5.5% from Q3 2022 Adjusted operating income of $6.0 million, 2.7% adjusted operating margin, a decrease of 20 bps over Q3 2022 • Control Devices operating income of $5.5 million, 6.4% adjusted operating margin, a decrease of 200 bps from Q3 2022 • Electronics operating income of $4.9 million, 3.7% adjusted operating margin, a decrease of 90 bps from Q3 2022 • Stoneridge Brazil operating income of $0.8 million, 6.0% adjusted operating margin, a decrease of 110 bps from Q3 2022 2022 Adjusted Results and 2023 Guidance 2022 Summary 2022 Reported 2022 Adjusted 2023 Guidance Sales $899.9 million $841.5 million $960.0 million – $990.0 million (+$133.5m) Gross Profit Margin $174.9 million 19.4% $174.9 million 20.8% 20.5% - 21.25% Operating Income Margin $2.9 million 0.3% $2.7 million 0.3% 1.5% - 2.25% (~+160 bps) Tax Expense Rate $3.4 million (31.4%) $3.3 million (30.8%) $4.5 million - $5.5 million EPS ($0.52) ($0.52) ($0.10) – $0.10 EBITDA Margin $30.1 million 3.3% $29.8 million 3.5% $50.9 million - $58.4 million (~+$28.5m) 5.3% - 5.9% (~+210 bps)

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14 Q4 2022 Performance Drivers vs. Prior Expectations ▸ Reduced volume vs. prior expectations drove revenue underperformance of approximately $14 million based on prior midpoint guidance • China (COVID related demand reductions) • North American Passenger Car (Customer production reductions) • Off-Highway aftermarket (Material constraints) • Material availability / production constraints limited ability to reduce short-term backlog as planned ▸ Continued material cost headwinds and unfavorable manufacturing costs versus prior expectations ▸ Favorable net operating expenses vs. prior expectations including reduced incentive compensation Q4 performance primarily impacted by reduced volume and incremental manufacturing and material costs partially offset by reduced operating expenses \*Excluding prior quarter correction related to non-operating gain for the net investment hedge of ~$3.7 million (~$0.10)

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15 Control Devices Financial Performance Expecting sales growth to outperform weighted average end-markets in 2023 Focus on strong execution and offsetting continued material and labor cost inflation Control Devices 2023 Expectations ▸ Expecting program ramp-ups and exposure to high-demand vehicle programs will continue to drive above market revenue growth in 2023 ▸ Continue to drive execution in 2023. Efficiently adjust variable cost structure to align with customer production schedules, as necessary. ▸ Focus on continued supply chain improvements through design changes, sourcing opportunities and continued price negotiations with strategic customers ▸ Continue to invest in and grow current capabilities targeted to electrified platforms and drivetrain architectures 2022 Quarterly Performance 2021\* vs 2022 Adjusted Sales Adjusted Operating Income $'s in USD Millions \*Excluding divested soot sensor products lines in 2021 results for comparison purposes Control Devices Summary Full-year 2022 sales and adjusted operating income were approximately in-line with 2021\* Fourth quarter sales declined by 3.9% compared to Q3 2022 primarily due to reduced OEM production volumes in North America and China Q4 operating income decreased by 200 basis points vs. Q3 primarily due to higher material costs as a result of unfavorable sales mix $346.7 $345.3 2021 2022 $85.0 $85.0 $89.4 $85.9 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $6.8 $4.1 $7.5 $5.5 8.0% 4.8% 8.4% 6.4% 2% 7% 12% 17% 0 2 4 6 8 10 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $23.9 $23.9 6.9% 6.9% 2% 7% 12% 17% 15 17 19 21 23 25 2021 2022

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16 Electronics Financial Performance Electronics 2023 Expectations ▸ Strong revenue growth expected to drive continued margin expansion in 2023 ▸ Execute on new program launches and ramp-up of recently launched programs ▸ Focus on price negotiations to offset continued material and labor cost inflation ▸ Focus on efficient use of engineering resources to ensure strong program launches and continued advanced development activities while reducing overall cost structure 2022 Quarterly Performance 2021 vs 2022 Adjusted Sales Adjusted Operating Income $'s in USD Millions Electronics Summary Q4 Adjusted sales growth of 15.0% vs. Q3 2022 Full-year 2022 adjusted sales growth of 23.8% vs. 2021 Q4 adjusted operating income declined by 90 basis points vs. Q3 2022 driven primarily by material and labor cost inflation Full-year adjusted operating margin improved by 430 basis points vs. 2021 primarily due to strong contribution margin from incremental revenue Expecting significant year-over-year growth and continued margin expansion $108.3 $115.1 $117.2 $134.8 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $384.1 $475.4 FY 2021 FY 2022 $(2.7) $(2.5) $5.4 $4.9 -2.5% -2.2% 4.6% 3.7% -8% -3% 2% 7% 12% -4 -2 0 2 4 6 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $(12.2) $5.1 -3.3% 1.1% -5% -3% -1% 1% 3% -15 -10 -5 0 5 10 FY 2021 FY 2022

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17 Stoneridge Brazil Financial Performance OEM business continues to expand as engineering footprint aligns with global strategy Stoneridge Brazil 2023 Expectations Revenue and operating margin expected to remain approximately flat in 2023 New business award for infotainment systems to one of the OEM commercial vehicle market leaders in Brazil, expecting to launch in 2024, with a peak annual revenue of ~$4 million (7.6% of 2022 sales) Focus remains on utilizing engineering resources to support global Electronics business 2022 Quarterly Performance 2021 vs 2022 Sales Adjusted Operating Income $'s in USD Millions Stoneridge Brazil Summary Full-year sales decreased by $4.5 million vs. 2021 Full-year adjusted operating income increased by 50 basis points vs. 2021 $12.0 $13.3 $13.8 $13.1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $56.8 $52.3 2021 2022 $2.6 $2.7 4.6% 5.1% 4% 5% 6% 7% 2.55 2.6 2.65 2.7 2021 2022 $0.5 $0.4 $1.0 $0.8 4.4% 3.0% 7.0% 6.0% 0 0.5 1 1.5 Q1 2022 Q2 2022 Q3 2022 Q4 2022

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18 Targeted leverage ratio of less than 2.5x Net Debt / EBITDA Q4 2022 Summary and 2023 Expectations ▸ Net debt decreased by approximately $21.7 million in Q4 ▸ Entered Amendment No. 4 to Credit Facility on February 28, 2023 ▸ Q1 2023 leverage ratio requirement of 4.75x ▸ Q2 2023 leverage ratio requirement of 4.25x ▸ Net debt / trailing-twelve-month EBITDA expected to continue to improve driven by earnings growth and net working capital performance ▸ Targeted leverage ratio <2.5x Net Debt / Adjusted EBITDA\* Net Debt and Leverage Ratio $'s in USD Millions Net Debt <2.5x Waiver Period \*Calculation for compliance purposes may differ 3.8x $32.3 $54.8 $136.2 $114.5 - 50.0 100.0 150.0 200.0 Q3 2022 Q4 2022 Target Leverage Ratio Cash Net Debt

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19 700 750 800 850 900 950 1,000 2022 Adjusted Sales IHS Production Forecast Stoneridge Specific Growth and Price Recoveries 2023 Sales Guidance 2023 Sales Guidance ▸ Midpoint revenue guidance implies ~16% revenue growth vs. weighted average end-market growth of ~1.2% in 2023 (~13x market growth) ▸ New program launches and ramp-up of recently launched programs will continue to drive above-market top line growth • MirrorEye OEM programs including ramp-up of first OEM program at higher annualized take-rates and launch of second program in Q2 2022 (~$40 million total revenue in 2023 vs. ~$25 million in 2022) • Expecting strong growth in MirrorEye retrofit and bus market ($20+ million total revenue in 2023 vs. ~$9 million in 2022) • Annualization of digital instrument cluster programs launched in 2022 and increased customer production of new truck models • Actuation programs on electrified platforms with increasing production expectations • SMART2 tachograph launching in mid-2023 – aftermarket and OEM applications Expecting revenue growth of ~16% and market outperformance of ~13x driven primarily by key new program launches in 2023 and continued ramp-up of recently launched programs $842m $10m $960m-$990m $108m - $138m Stoneridge specific growth expected to drive ~12x to ~14x underlying market growth

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20 2023 Adjusted EPS Guidance 2023 Adjusted EPS guidance of approximately break-even based on strong contribution margins on revenue growth and operating improvement partially offset by incremental labor costs and interest ($0.10) - $0.10 ▸ Expecting contribution margin aligned with historical averages (25% - 30%) ▸ Operating improvement driven by improved production visibility as supply chains stabilize and leverage on fixed costs ▸ Expecting significant incremental expense related to labor driven by inflationary wage adjustments above historical averages and normalization of incentive compensation expenses in 2023 relative to prior year ▸ Expecting incremental interest expense of ~$5.5 million vs. 2022 driven by increased interest rates and incremental average debt balances vs. 2022 ▸ Expecting slightly positive impact of foreign currency despite continued headwinds on Peso exposure ▸ Midpoint adjusted EPS guidance growth of $0.52 vs. 2022

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21 2023 Outlook ▸ Control Devices – Stable sales in 2023 as incremental revenue from program ramp-ups were offset by supply chain volatility and material availability impacting production ▸ Electronics – Continued strong demand and ramp-up in recently launched programs led to sales growth of 15% in 2023. Strong contribution margin on incremental sales and cost recovery actions led to improved margin. ▸ Stoneridge Brazil – Focus remains on supporting global engineering initiatives and growth in OEM business to support global customers locally 2023 Guidance ▸ Adjusted sales guidance of $960.0 million - $990.0million (midpoint of $975.0 million) • Midpoint revenue suggests ~13x market growth and ~16% growth vs. 2022 ▸ Adjusted gross margin guidance of 20.5% - 21.25% (midpoint of ~20.9%) ▸ Adjusted operating margin guidance of 1.5% - 2.25% (midpoint of ~1.9%) ▸ Adjusted EPS guidance of ($0.10) - $0.10 (Break-even midpoint) ▸ Adjusted EBITDA guidance of $50.9 million - $58.4 million (midpoint of $54.6 million) • Adjusted EBITDA margin guidance of 5.3% - 5.9% (midpoint of 5.6%) Driving shareholder value through strong financial performance and a well-defined long-term strategy Summary

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22 Appendix

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23 Weighted OEM end-markets expected to increase 1.2% in 2023 \*Regional adjusted sales based on manufactured location and estimated end-market exposure \*\*Adjusted sales direct to customers. Total customer exposure may differ due to sales to suppliers that sell to end customers \*\*\*Excluding Stoneridge Brazil Adjusted Sales by End Market (2022)\* 2023 Passenger Car End-Market Forecasts SOURCE: Feb 2023 LVP IHS; Q1 2023 MHCV IHS 2023 Commercial Vehicle End-Market Forecasts\*\*\* Total Passenger Car / Light Truck / SUV / CUV 36% Adjusted Sales Direct to Customer (2022)\*\* 2023 Full Year Volume Outlook (Units in Millions) Stoneridge 2022 Sales 2022 2023E 2023 B/(W) 2022 Weighted 2023 Sales Impact North America 32.5% 14.3 15.1 5.4% 1.8% Asia 3.6% 26.2 26.4 0.9% 0.0% Total 36.1% 40.5 41.5 2.5% 1.8% Global Vehicle Production (Units in Millions) Stoneridge 2022 Sales 2022 2023E 2023 B/(W) 2022 Weighted 2023 Sales Impact Europe 25.8% 0.5 0.5 -1.9% -0.5% North America 16.1% 0.5 0.5 -3.6% -0.6% Asia 2.2% 0.7 0.9 22.9% 0.5% Total 44.1% 1.7 1.9 8.2% -0.6% Global Vehicle Production Light Truck / SUV / CUV, 33% Traditional Passenger Car, 3% Commerical Vehicle, 44% Aftermarket / Non-OE / Other, 20% PACCAR, 15.1% AB Volvo, 11.0% VW Group, 8.9% Ford, 7.0% Daimler AG, 6.8% American Axle, 4.9% General Motors, 2.9% Navistar, 2.6% All Others 41.0%

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24 Primary Stoneridge Foreign Currency Sensitivities SRI Currency Exposures 2023 Assumption Rates If 5% Weaker vs. USD Net Annual EBITDA \* Transaction Impact Translation Impact Euro 1.00 Mexican Peso 19.47 N/A Chinese Yuan 6.90 Swedish Krona 10.80 Brazilian Real 5.29 \*Before impact of hedging programs, approximate USD in millions $1.2 $3.0 $2.1 $0.6 $0.0 $0.4 $0.1 $0.1 $1.0

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25 Balance Sheet

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26 Consolidated Statement of Operations

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27 Consolidated Statement of Cash Flows CONSOLIDATED STATEMENTS OF CASH FLOWS Year ended December 31, (in thousands) 2022 2021 2020 OPERATING ACTIVITIES: Net (loss) income $(14,056) $3,406 $(7,950) Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation 26,687 27,823 27,309 Amortization, including accretion and write-off of deferred financing costs 8,055 6,648 5,926 Deferred income taxes (5,110) (511) (7,953) Loss (earnings) of equity method investee 823 (3,658) (1,536) (Gain) loss on sale of fixed assets (241) (165) 185 Share-based compensation expense 5,942 5,960 5,888 Excess tax deficiency (benefit) related to share-based compensation expense 543 (563) (46) Gain on sale of Canton Facility, net — (30,718) — Gain on disposal of business and joint venture, net — (2,942) — Property, plant and equipment impairment charge 33 — 2,349 Change in fair value of earn-out contingent consideration — 2,065 (3,196) Changes in operating assets and liabilities: Accounts receivable, net (13,161) (17,019) 4,164 Inventories, net (20,127) (51,270) 4,000 Prepaid expenses and other assets (5,159) (5,116) 1,342 Accounts payable 18,489 16,515 3,642 Accrued expenses and other liabilities 4,088 13,297 (5,483) Net cash provided by (used for) operating activities 6,806 (36,248) 28,641 INVESTING ACTIVITIES: Capital expenditures, including intangibles (31,609) (27,031) (32,462) Proceeds from sale of fixed assets 158 268 127 Proceeds from settlement of net investment hedges 3,820 — — Proceeds from disposal of business, net — 1,837 — Proceeds from disposal of joint venture, net — 20,999 — Proceeds from sale of Canton Facility, net — 35,167 — Investment in venture capital fund, net (950) (3,199) (1,550) Net cash (used for) provided by investing activities (28,581) 28,041 (33,885)

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28 Consolidated Statement of Cash Flows (continued) FINANCING ACTIVITIES: Revolving credit facility borrowings 21,562 91,913 71,500 Revolving credit facility payments (18,000) (64,000) (61,500) Proceeds from issuance of debt 38,940 45,753 41,104 Repayments of debt (42,732) (48,125) (37,823) Earn-out consideration cash payment (6,276) — — Common Share repurchase program — — (4,995) Repurchase of Common Shares to satisfy employee tax withholding (791) (2,665) (1,773) Net cash (used for) provided by financing activities (7,297) 22,876 6,513 Effect of exchange rate changes on cash and cash equivalents (1,677) (3,041) 3,247 Net change in cash and cash equivalents (30,749) 11,628 4,516 Cash and cash equivalents at beginning of period 85,547 73,919 69,403 Cash and cash equivalents at end of period $54,798 $85,547 $73,919 Supplemental disclosure of cash flow information: Cash paid for interest $7,293 $6,055 $5,620 Cash paid for income taxes, net $6,178 $11,267 $(254) Supplemental disclosure of non-cash activities: Adoption of ASU 2019-12 (Note 2) $— $— $13,750

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29 Segment Reporting SEGMENT REPORTING December 31, 2022 2021 2020 Net Sales: Control Devices $342,596 $355,775 $342,576 Inter-segment sales 2,719 3,502 5,475 Control Devices net sales 345,315 359,276 348,051 Electronics 505,097 357,910 257,767 Inter-segment sales 28,709 26,192 24,027 Electronics net sales 533,806 384,103 281,794 Stoneridge Brazil 52,230 56,777 47,663 Inter-segment sales 32 — — Stoneridge Brazil net sales 52,262 56,777 47,663 Eliminations (31,460) (29,694) (29,502) Total net sales $899,923 $770,462 $648,006 Operating Income (Loss): Control Devices $23,917 $54,933 $22,072 Electronics 5,128 (12,502) (3,672) Stoneridge Brazil 3,150 995 3,766 Unallocated Corporate (A) (29,260) (28,015) (29,830) Total operating income (loss) $2,935 $15,411 $(7,664) Depreciation and Amortization: Control Devices $13,521 $15,351 $15,377 Electronics 13,913 12,487 10,501 Stoneridge Brazil 3,939 3,856 4,766 Unallocated Corporate 2,318 2,134 2,086 Total depreciation and amortization (B) $33,691 $33,828 $32,730 Interest Expense (Income), net: Control Devices $93 $132 $173 Electronics 1,009 462 320 Stoneridge Brazil (1,282) (1,353) (4) Unallocated Corporate 7,277 5,948 5,635 Total interest expense, net $7,097 $5,189 $6,124 Capital Expenditures: Control Devices $12,620 $9,154 $11,760 Electronics 10,479 9,735 11,617 Stoneridge Brazil 3,480 2,918 2,839 Unallocated Corporate(C) 653 1,142 1,444 Total capital expenditures $27,232 $22,949 $27,660 _____________________________ (A) Unallocated Corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation. (B) These amounts represent depreciation and amortization on property, plant and equipment and certain intangible assets. (C) Assets located at Corporate consist primarily of cash, intercompany receivables, fixed and leased assets for the headquarter building, information technology assets, equity investments and investments in subsidiaries.

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30 Reconciliations to US GAAP

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31 This document contains information about Stoneridge's financial results which is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures in the appendix of this document. The provision of these non- GAAP financial measures is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non-GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this document and the adjustments that management can reasonably predict. Reconciliations to US GAAP

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32 Reconciliations to US GAAP (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Sales 193.8$191.3$181.7$203.7$770.5$221.1$220.9$226.8$231.2$899.9$ Less: Pre-Tax Sale of Soot Sensor Product Inventory (1.0) - - (1.3) (2.3) - - - - - Less: Sales from Spot Purchase Recoveries - - - (17.6) (17.6) (24.4) (15.3) (12.8) (6.0) (58.4) Adjusted Sales 192.8$191.3$181.7$184.7$750.5$196.6$205.7$214.0$225.2$841.5$ Reconciliation of Adjusted Gross Profit (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Gross Profit 46.1$42.8$36.0$41.9$166.9$41.4$38.6$49.4$45.5$174.9$ Add: Pre-Tax Restructuring Costs 0.6 0.3 0.6 0.1 1.6 - - - - - Less: Pre-Tax Sale of Soot Sensor Product Inventory (0.1) - - - (0.1) - - - - - Add: Pre-Tax Business Realignment Costs - 0.0 0.0 0.0 0.0 - - - - - Adjusted Gross Profit 46.7$43.1$36.6$42.0$168.4$41.4$38.6$49.4$45.5$174.9$ Reconciliation of Adjusted Operating Income (Loss) (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Operating Income (Loss) 2.1$26.7$(8.9)$(4.4)$15.4$(3.0)$(5.9)$5.9$6.0$2.9$ Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) 0.1 1.1 0.2 0.6 2.1 - - - - - Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) - - - (1.1) (1.1) - - - - - Less: Pre-Tax Gain from Disposal of MSIL Joint Venture - - - (1.8) (1.8) - - - - - Add: Pre-Tax Restructuring Costs 1.6 0.3 0.7 0.1 2.7 - - - - - Less: Pre-Tax Gain on Sale of Canton Facility - (30.7) - - (30.7) - - - - - Add: Pre-Tax Business Realignment Costs 0.2 0.1 1.1 0.0 1.4 - - 0.3 - 0.3 Add: Pre-Tax Brazilian Indirect Tax Credits, Net - 0.6 - - 0.6 - (0.6) - - (0.6) Less: Pre-Tax Gain from Disposal of Soot Sensor Business (0.7) - - (0.4) (1.1) - - - - - Add: Pre-Tax Sale of Soot Sensor Product Inventory (0.1) - - 0.1 (0.0) - - - - - Add: Pre-Tax Environmental Remediation Costs 0.4 - - - 0.4 - - - - - Adjusted Operating Income (Loss) 3.6$(1.9)$(6.9)$(7.0)$(12.2)$(3.0)$(6.5)$6.1$6.0$2.7$ Reconciliation of Adjusted Sales

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33 Reconciliations to US GAAP Reconciliation of Adjusted EBITDA (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Income (Loss) Before Tax 0.5$25.6$(9.8)$(3.9)$12.4$(6.2)$(6.9)$1.7$0.7$(10.7)$ Interest expense, net 1.8 1.9 1.4 0.1 5.2 1.8 1.2 1.8 2.2 7.1 Depreciation and amortization 8.4 8.5 8.2 8.7 33.9 8.7 8.5 8.3 8.2 33.7 EBITDA 10.8$36.0$(0.2)$5.0$51.5$4.3$2.8$11.8$11.1$30.1$ Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) 0.1 1.1 0.2 0.6 2.1 - - - - - Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) - - - (1.1) (1.1) - - - - - Less: Pre-Tax Gain from Disposal of MSIL Joint Venture - - - (1.8) (1.8) - - - - - Add: Pre-Tax Restructuring Costs 1.4 0.3 0.7 0.1 2.5 - - - - - Less: Pre-Tax Gain on Sale of Canton Facility - (30.7) - - (30.7) - - - - - Add: Pre-Tax Business Realignment Costs 0.2 0.1 1.1 0.0 1.4 0.0 - 0.3 - 0.3 Add: Pre-Tax Brazilian Indirect Tax Credits, Net 0.6 - - 0.6 - (0.6) - - (0.6) Less: Pre-Tax Gain from Disposal of Soot Sensor Business (0.7) - - (0.4) (1.1) - - - - - Less: Pre-Tax Sale of Soot Sensor Product Inventory (0.1) - - 0.1 (0.0) - - - - - Add: Pre-Tax Environmental Remediation Costs 0.4 - - - 0.4 - - - - - Adjusted EBITDA 12.1$7.4$1.8$2.4$23.7$4.3$2.3$12.1$11.1$29.8$

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34 Reconciliations to US GAAP Reconciliation of Control Devices Adjusted Sales (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Control Devices Sales 101.6$86.7$88.0$82.9$359.3$85.0$85.0$89.4$85.9$345.3$ Less: Pre-Tax Sale of Soot Sensor Product Inventory (1.0) - (1.3) (2.3) - - - - - Control Devices Adjusted Sales 100.6$86.7$88.0$81.6$357.0$85.0$85.0$89.4$85.9$345.3$ Reconciliation of Control Devices Adjusted Operating Income (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Control Devices Operating Income 10.2$37.1$2.9$4.8$54.9$6.8$4.1$7.5$5.5$23.9$ Add: Pre-Tax Restructuring Costs 1.4 0.3 0.6 0.1 2.3 - - - - - Less: Pre-Tax Gain on Sale of Canton Facility - (30.7) - - (30.7) - - - - - Less: Pre-Tax Gain from Disposal of Soot Sensor Business (0.7) - - (0.4) (1.1) - - - - - Add: Pre-Tax Business Realignment Costs 0.2 - - - 0.2 - - - - - Less: Pre-Tax Sale of Soot Sensor Product Inventory (0.1) - - 0.1 (0.0) - - - - - Add: Pre-Tax Environmental Remediation Costs 0.4 - - - 0.4 - - - - - Control Devices Adjusted Operating Income 11.3$6.6$3.5$4.5$26.0$6.8$4.1$7.5$5.5$23.9$ Reconciliation of Control Devices Adjusted Sales Excluding Disposed Soot Sensor Business (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Control Devices Sales 100.6$86.7$88.0$81.6$357.0$85.0$85.0$89.4$85.9$345.3$ Less: Sales from Disposed Soot Sensor Business (3.0) (2.3) (3.2) (1.8) (10.3) - - - - - Control Devices Adjusted Sales Excluding Disposed Soot Sensor Business 97.6$84.4$84.8$79.9$346.7$85.0$85.0$89.4$85.9$345.3$ Reconciliation of Control Devices Adjusted Operating Income Excluding Disposed Soot Sensor Business (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Control Devices Adjusted Operating Income 11.3$6.6$3.5$4.5$26.0$6.8$4.1$7.5$5.5$23.9$ Less: Pre-Tax Operating Gain from Disposed Soot Sensor Business (0.4) (0.7) (0.5) (0.5) (2.1) - - - - - Control Devices Adjusted Operating Income Excluding Disposed Soot Sensor Business 10.9$6.0$3.0$4.0$23.9$6.8$4.1$7.5$5.5$23.9$

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35 Reconciliations to US GAAP Reconciliation of Electronics Adjusted Sales (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Electronics Sales 88.7$97.3$83.9$114.1$384.1$132.7$130.4$130.0$140.7$533.8$ Less: Sales from Spot Purchase Recoveries - - - (17.6) (17.6) (24.4) (15.3) (12.8) (6.0) (58.4) Electronics Adjusted Sales 88.7$97.3$83.9$96.5$366.5$108.3$115.1$117.2$134.8$475.4$ Reconciliation of Electronics Adjusted Operating Income (Loss) (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Electronics Operating Income (Loss) (0.9)$(1.8)$(5.1)$(4.7)$(12.5)$(2.7)$(2.5)$5.4$4.9$5.1$ Add: Pre-Tax Restructuring Costs 0.2 0.0 0.1 - 0.3 - - - - - Add: Pre-Tax Business Realignment Costs - (0.0) (0.0) - (0.0) - - - - - Electronics Adjusted Operating Income (Loss) (0.7)$(1.8)$(5.0)$(4.7)$(12.2)$(2.7)$(2.5)$5.4$4.9$5.1$ Reconciliation of Stoneridge Brazil Adjusted Operating Income (USD in millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Stoneridge Brazil Operating Income (Loss) (0.0)$(0.7)$0.9$0.9$1.0$0.5$1.0$0.9$0.8$3.1$ Add: Pre-Tax Change in Fair Value of Earn-Out (Stoneridge Brazil) 0.1 1.1 0.2 0.6 2.1 - - - - - Less: Pre-Tax TSA and Monetary Correction (Stoneridge Brazil) - - - (1.1) (1.1) - - - - - Add: Pre-Tax Business Realignment Costs - 0.1 - - 0.1 - - 0.1 - 0.1 Add: Pre-Tax Brazilian Indirect Tax Credits, Net 0.6 - - 0.6 - (0.6) - - (0.6) Stoneridge Brazil Adjusted Operating Income 0.0$1.1$1.1$0.3$2.6$0.5$0.4$1.0$0.8$2.7$

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36 Reconciliations to US GAAP Reconciliation of Adjusted Sales Excluding Disposed Soot Sensor Business (USD in millions) 2021 2022 Adjusted Sales 750.5$841.5$ Less: Pre-Tax Sales from Disposed Soot Sensor Business (10.3) - Adjusted Sales Excluding Disposed Soot Sensor Business 740.2$841.5$ Reconciliation of Gross Profit Excluding Disposed Soot Sensor Business (USD in millions) 2021 2022 Adjusted Gross Profit 168.4$174.9$ Less: Pre-Tax Gain from Disposed Soot Sensor Business (1.4) - Adjusted Gross Profit Excluding Disposed Soot Sensor Business 167.1$174.9$ Reconciliation of Adjusted Operating Income (Loss) Excluding Disposed Soot Sensor Business (USD in millions) 2021 2022 Adjusted Operating Income (Loss) (12.2)$2.7$ Less: Pre-Tax Gain from Disposed Soot Sensor Business (2.1) - Adjusted Operating Income (Loss) Excluding Disposed Soot Sensor Business (14.3)$2.7$ Reconciliation of Adjusted EBITDA Excluding Disposed Soot Sensor Business (USD in millions) 2021 2022 Adjusted EBITDA 23.7$29.8$ Less: Pre-Tax Operating Income from Disposed Soot Sensor Business (2.1) - Adjusted EBITDA Excluding Disposed Soot Sensor Business 21.6$29.8$ Reconciliation of Adjusted EPS Excluding Disposed Soot Sensor Business (USD in millions) 2021 2022 Adjusted EPS (0.59)$(0.52)$ Less: EPS attributable to Disposed Soot Sensor Business (0.06)$-$ Adjusted EPS Excluding Disposed Soot Sensor Business (0.64)$(0.52)$

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37 Reconciliations to US GAAP (USD in millions) 2022 2022 EPS Net Loss (14.1)$(0.52)$ Add: After-Tax Write-off of Deferred Financing Fees 0.4 0.01 Add: After-Tax Brazilian Indirect Tax Credit (0.6) (0.02) Add: After-Tax Business Realignment Costs 0.2 0.01 Adjusted Net Loss (14.1)$(0.52)$ Reconciliation of 2022 Adjusted EPS

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38 Reconciliations to US GAAP (USD in millions) 2022 Tax Rate Loss Before Tax (10.7)$ Add: Pre-Tax Write-off of Deferred Financing Fees 0.4 Add: Pre-Tax Brazilian Indirect Tax Credit (0.8) Add: Pre-Tax Business Realignment Costs 0.3 Adjusted Loss Before Tax (10.8)$ Income Tax Expense 3.4 -31.4% Add: Tax Impact from Pre-Tax Adjustments (0.1) Adjusted Income Tax Expense 3.3$-30.8% Reconciliation of 2022 Adjusted Tax Rate

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39 Reconciliations to US GAAP Reconciliation of Adjusted EBITDA Excluding Prior Quarter Correction (USD in millions) Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Adjusted EBITDA 4.3$2.3$12.1$11.1$29.8$ Add: Reclassified non-operating net gain related to net investment hedge - (3.7) - 3.7 - Adjusted EBITDA Ex. Prior Quarter Correction 4.3$(1.4)$12.1$14.8$29.8$ Reconciliation of Adjusted EPS Excluding Prior Quarter Correction Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Adjusted EPS (0.27)$(0.29)$0.03$0.01$(0.52)$ Add: Reclassified non-operating net gain related to net Investment hedge - (0.10) - 0.10 - Adjusted EPS Ex. Prior Quarter Correction (0.27)$(0.39)$0.03$0.11$(0.52)$

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