Investor Presentation

Updated November 18, 2020 NYSE: TEN Safe Harbor Forward-Looking Statements

This communication contains forward-looking statements. These forward-looking statements include, but are not limited to, (i) all statements, other than statements of historical fact, included in this communication that address activities, events or developments that we expect or anticipate will or may occur in the future or that depend on future events and (ii) statements about our future business plans and strategy and other statements that describe Tenneco’s outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. These forward-looking statements are included in various sections of this communication and the words “may,” “will,” “believe,” “should,” “could,” “plan,” “expect,” “anticipate,” “estimate,” and similar expressions (and variations thereof) are intended to identify forward-looking statements. Forward-looking statements included in this communication concern, among other things, future performance improvement plans; future financial and operating results; and other statements that are not historical facts. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements, including the course of the COVID-19 pandemic and its impact on general economic, business and market conditions: our ability (or inability) to execute on our plans to respond to the COVID-19 pandemic and our previously announced Accelerate plan and to realize the anticipated benefits of these actions; our financial flexibility in addressing the impact of the COVID-19 pandemic; our ability to maintain compliance with the agreements governing our indebtedness and otherwise have sufficient liquidity through the COVID-19 pandemic; the possibility that Tenneco may not complete a separation of the Aftermarket & Ride Performance business from the Powertrain Technology business; the possibility that Tenneco will be unable to execute on its strategy and maintain compliance with the covenants in its Credit Agreement; the ability to retain and hire key personnel and maintain relationships with customers, suppliers or other business partners; as well as the risk factors and cautionary statements included in Tenneco's periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the SEC. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Unless otherwise indicated, the forward-looking statements in this presentation are made as of the date of this communication, and, except as required by law, Tenneco does not undertake any obligation, and disclaims any obligation, to publicly disclose revisions or updates to any forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its annual report on Form 10-K for the year ended December 31, 2019 and quarterly reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020.

In addition, please see Tenneco’s press release issued November 2, 2020 for factors that could cause Tenneco’s future performance to vary from the expectations expressed or implied by the forward-looking statements herein. Please see Tenneco’s press releases issued November 2, 2020 and March 2, 2020 for certain reconciliations of GAAP to non-GAAP results.

2 Tenneco Overview Scale and diversification in product lines, end markets and regions

CTOH, Industrial & Other 14% 40% Clean Air EMISSIONS/ Ride ENGINE Performance Product OE Light $2.7 Applications 54% Vehicle Aftermarket VA Revenue 32% $4.1 & OES 14% SUSPENSION/ Clean Air/ Operating TM CHASSIS Powertrain DRiV DIVISION DIVISION Segments VA Revenue $3.2

$4.4 Powertrain Motorparts 11% 43% North America

ROW 9% Regions 2019 Revenue VA Revenue

$17.5B Revenue

$14.4B Value-add (VA) Revenue 37% Europe 3 Global Manufacturing and Distribution Facilities 78,000 global team members

Manufacturing plants- 217

Distribution centers- 41

AMER EMEA APAC

Team members 32,500 30,500 15,000

Manufacturing plants 75 75 67

Distribution centers 16 21 4

Diversified profile – serving global and regional customers in all key markets

4 Tenneco Business Structure Globally scaled & focused operating groups

TENNECO

Clean Air/Powertrain DRiVTM

Clean Air Powertrain Motorparts Ride Performance

2019 VA Revenue $4.1B $4.4B $3.2B $2.7B % of TEN 28% 31% 22% 19%

• Advanced & conventional • Emission controls • Fuel economy • Chassis - suspension, steering Product & System & braking suspensions • Fuel economy • Emission reduction Solutions • Powertrain - sealing, engine, • NVH reduction • Acoustic performance • Durability emissions & maintenance • Braking

• Advanced product lines • N America & Europe • N America & Europe • Brand & category fortification − Global capability expansion − Business line & capacity • Supply chain excellence Strategic Focus − Priority customer/platform optimization • Conventional product lines growth • Omni channel support • Industrial growth − NA/EMEA capacity • APAC growth • Training & services optimization • APAC growth − APAC growth

Advanced Suspension Targeted Growth Technologies Large engine (CTOHI) solutions Top 3 regional markets Investments & NVH Performance Materials

See reconciliations of GAAP to non-GAAP financial metrics in Tenneco’s press release issued March 2, 2020. 5 Liquidity and Debt Position

Paid down revolver, reduced Addressing next significant Optimize cash performance net debt, increased liquidity debt maturity (April 2022)

• Paid down revolver by $1.1B in Q3; • Focused on reducing capital intensity • On November 13, 2020, announced balance drawn of $0.4B at quarter end ‒ Continue to expect 2020 capex pricing of new $500M 7.875% • Net debt of $5.1B; reduced by $429M ~$380M; significant reduction from Senior Secured Notes due 2029 in Q3 as we work to optimize cash $744M in 2019 • Redeeming FM €415M Senior performance • Flex trade working capital and execute Secured Notes due April 2022 on • Liquidity of $1.8B at quarter end cost actions December 14, 2020 ‒ Improved from $1.4B at 6/30/20 ‒ Net trade working capital • Remain fully compliant on all debt improvements despite production covenants, with significant cushion Q2’20: $5.5B COVID impact ramp through Q3 $5.2B H2 Target o Net trade working capital See Pro Forma debt maturity $5.1B efficiency improved ~250 bps YoY $5.0B schedule and more details ‒ Expect positive adjusted free cash flow in Q4 on next page Net Debt: Made significant progress in Q3 toward year end target of net debt even with or better than YE 2019

YE 2019 Q1 Q2 Q3 YE 2020

See reconciliations of GAAP to non-GAAP financial metrics in Tenneco’s press release issued November 2, 2020. 6 Pro Forma Debt Maturity Profile Debt maturities excluding subsidiary debt (Pro Forma for transaction): $ millions $1,800 New Notes Offering priced on $1,678 $1,598 November 13, 2020 $1,600 • Tenneco has agreed to issue $500 million of $1,400 7.875% Senior Secured Notes due January 2029 (the “Notes Offering”) with proceeds to $1,200 be used to redeem the existing Federal-Mogul $1,000 $987 Senior Secured Notes due 2022 (€415 million) at the current call price of 101.219 $800 • The Notes Offering is expected to be leverage $600 $500 $500 neutral, with bank covenant Pro Forma Net Secured Leverage and Net Leverage of 4.6x $400 and 5.5x, respectively $187 $145 $200 $102 • This opportunistic refinancing will extend the

$0 Company’s maturity profile, resulting in the 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 nearest term maturity of 2023

TLA due Oct. 2023 TLB due Oct. 2025 • The Offering is expected to close on Revolver Borrowings due Oct. 2023 4.875% Notes due Apr. 2022 (FM) November 30, 2020, subject to customary 4.875% FR Notes due Apr. 2024 (FM) 5% Notes due Jul. 2024 (FM) closing conditions. 5.375% Notes due Dec. 2024 (TEN) 5% Notes due Jul. 2026 (TEN) New Sec. Notes due Jan. 2029

7 Building a Stronger Tenneco Performance Focus - Margin Expansion & Cash Generation

Reduce Lower Capital Optimize Business Invest in Structural Cost Intensity Line Portfolio Growth Targets

• Execute Accelerate+ • Improve capex/revenue • Value Stream Simplification • Motorparts – top 3 markets program ratio - 80/20 value analytics • Advanced Suspension • Lean corporate & operating • Expand working capital • Align business lines to Technologies group structure turns portfolio positions • NVH Performance Materials – Inventory driven • Divest/discontinue non- • Large Engine Solutions core business lines (CTOHI)

Optimizing shareholder value creation through debt reduction focus and targeted growth investments

8 Clean Air & Powertrain Driving Progress Toward Cleaner, More Efficient Engines

9 Clean Air & Powertrain Overview Driving Progress Toward Cleaner, More Efficient Engines

$8.5B 50,000 161 21 2019 VA Revenue Global team Manufacturing Globally networked members sites worldwide engineering & technical centers

Global pure-play powertrain supplier, positioned to capture opportunities

10 Revenue and Business Mix Clean Air & Powertrain Division – 2019 VA Revenue $8.5 billion Top OE Platforms (Models)

CTOH, 8% MQB A/B (Golf, Octavia and Sagitar passenger cars) Industrial & Light Vehicle Other 3% Ford T3/P552 LD (LD F-150 truck) 19% 3% GM C1XX (Traverse, Enclave and Acadia SUVs) Other 19.0% 12.9% 2% Ford T3/P558 HD (HD Super Duty truck) Product OES 11% 70% Applications 2% GM Global Delta/D2XX (Monza passenger car and Equinox SUV)

2% Daimler MRA (E and C class passenger cars)

John Deere Ford Motors 2% GM K2XX / T1XX LD (LD Silverado and Sierra trucks) 2.2% 11.1% 2% BMW LU (X1 and Mini passenger cars) 2.3% 2% Daimler MFA (CLA and A-Class passenger cars and GLA SUV) Cummins 2.5% Top Customers 2% GM K2XX / T1XX HD (HD Silverado and Sierra trucks) 2.8% VA Rev North America PSA Peugeot VW Group 2% BMW LK/L7 (3 Series and Z4 passenger cars) Citroen 8.7% 39% 2.9% 1% RAM DS HD (Ram DS HD truck) Motor GM Global Epsilon/E2XX (Malibu and Regal passenger cars and 3.6% 1% XT4 SUV ) China Daimler AG Land Rover PLA-D7u (RR Sport, Discovery and Range Rover 14% FAW 3.6% 1% 8.3% SUVs) Regions SAIC 1% FCA EVO/CUSW (Jeep Cherokee truck) 3.7% FCA Motor BMW 8% 4.3% 7.8% ROW Caterpillar 4.3% Expected growth in CTOH & Industrial further diversifies the business profile // 39% Mitsubishi Europe

See reconciliations of GAAP to non-GAAP financial metrics in Tenneco’s press release issued March 2, 2020. 11 Clean Air Segment Key Drivers and Technologies Products and systems that support ICE, HEV and BEV

Products and Systems Emissions Control Fuel Economy Acoustic Performance

• Thermal management • Mass reduction • Passive and active noise • Criteria pollutant • Efficient use and recovery management reduction of engine exhaust energy

Selective Catalytic Reduction Gasoline & Diesel Particulate Filters

Cold Start Thermal Unit (Active Heating) High Efficiency Urea Mixing Fabricated Manifolds Close-Coupled Catalysts

Large Engine Aftertreatment + Dosing Full Exhaust Aftertreatment Systems

Exhaust Heat Recovery Systems

Lightweight Compact Systems

Smart Sound Active Electronic Valves High Performance Passive Valves

Cold End Systems

12 Powertrain Segment Key Drivers and Technologies Products and systems that support ICE, HEV and BEV

Products and Systems Emissions Fuel Economy Durability

• Friction • Thermal Management • Life (Wear, Fatigue) • Advanced Combustion • Seal (Oil) • Seal (Coolant, Gas, Oil) • Electrification/ Hybridization

Controlled Power Technologies

Heavy-Duty and Light Vehicle Steel Pistons Spark Plugs

Cylinder Liners Gaskets

Advanced Gasoline Pistons

Systems Protection

Piston Rings Bearings Shaft Seals

Valves Valve Seats and Valve Guides

13 Tightening Emissions Regulations Regulatory-driven growth expected to accelerate through the next decade

PROJECTED GROWTH OF POWERTRAINS UNDER • Commercial Truck REGULATION (millions) – 2020-21 / 2023 – China VIa/VIb** Regulated Off-Hwy – 2020 – BS VI (skipping BS V) 7.7 10% – 2023-2027 – CARB & EPA Low NOx** CT: Euro VI 6.1 • Off-Highway 10% Regulated – 2019 – EU Stage V Off-Hwy – 2020 – China 4R (equiv. EU Stage 3B + DPF) 5 – 2020/2024 – India BS IV/India BS V 4 Total 4.3 • Light Vehicle – 2017-2025 – US Tier 3 – 2017-2021 – Euro 6c/6d Real Driving Emissions 2.9 – 2020/2023 – China 6a/6b** – 2020 – India BS 6 (skipping BS 5) 12% CT: Euro VI 2.1 2.7

CHINA VI CONTENT GROWTH OPPORTUNITY 1.4 • 30% Increase in Light Vehicle VA CPV vs. 2018A • Commercial VA CPV Expansion Higher 2019 2022 2025 CAGR Source: PSR production forecast and Tenneco estimates, July 2019 CTOH market expands with increasing number of vehicles under regulation ** Tenneco estimates 14 Commercial Truck Regulatory Path

Heavy-Duty Vehicle emission standards EMEA expected to reduce average CO2 emissions by • Upcoming CO2 regulation (-15%/-30%) will lead to additional ATS requirements for NOx reduction and energy recovery • EuroVII regulation is not yet defined but will further strengthen NOx reduction and PEMS

At least -15% in 2015 -30% in 2030 North America • Cleaner truck initiative will be implemented in two steps (EPA Source: European Commission 2024 / 2027) with an expected significant reduction in NOx reduction and the introduction of a severe low load cycle

China • After a successful introduction of CNVI nationwide, authorities PRODUCTS/TECHNOLOGIES IN DEVELOPMENT start working on the definition of CNVII, which will most likely follow EUVII targets • New modular architectures for CN/IN, NA and EU • CTOH burner • E-heater integration South America • Next generation mixing • Introduction of EUVI for CT in 2022

15 Clean Air & Powertrain Overview Significant Growth Potential in CTOH

AMERICAS EMEA ASIA PACIFIC

2025 CTOH Production: 1.3M 2025 CTOH Production: 2.1M 2025 CTOH Production: 7.3M Regulated Diesel 2019: 64% Regulated Diesel 2019: 77% Regulated Diesel 2019: 30% Regulated Diesel 2025: 70% Regulated Diesel 2025: 77% Regulated Diesel 2025: 72%

Europe 560 888 335 477 Japan/Korea China 281 1,032 1,399 1,266 North America

441

India 1,052 Projected Regulated 2025 Units (thousands) 142

Commercial Truck South America Off-Highway Engines

Asia Pacific production is expected to be 2x the Americas and EMEA regions combined

CTOH regulated diesel volume expected to increase by nearly 3.5 million units by 2025, driven mainly by APAC * Source: PSR July 2019 & Tenneco forecasts, Fuel type = Diesel, NG/LPG, excluding emissions compliance = None 16 DRiV TM Driving Advancements for Every Vehicle, Every Ride, Every Race, Every Journey

17 DRiV™ Overview

$5.9B 28,000 56 41 2019 VA Revenue Global team Manufacturing Global distribution members sites worldwide centers

Capabilities with global scale to serve aftermarket and original equipment customers

18 DRiV™ Driving Advancements for Every Vehicle, Every Ride, Every Race, Every Journey

With global reach and scale, and a world-leading stable of automotive brands ranging from the highest level of performance to the broadest everyday use, DRiV is dedicated to helping drivers Upper control arm experience the perfect ride. Top mount As a global leader serving both aftermarket and OE Ball joint markets, DRiV is dedicated to helping its customers Spring assembly innovate the ride experience in an emerging age of advanced suspension, autonomous driving, shared Dampers

mobility and electrification. Hub assembly Inner and outer tie rods

SOLUTIONS PROVIDED FOR

Bushings

Brake rotors

Lower control arm Linkages

19 Serving Aftermarket and OE Customers Globally DRiV™ Division – 2019 VA Revenue $5.9 billion CTOH, Industrial & Other

6% Light Vehicle VW Group DIVERSIFIED BUSINESS PROFILE 33% 8.0% Advance • Strong aftermarket counterbalance to Auto Parts OE market cyclicality 5.4% Product Ford Applications 5.1% SEGMENT ADJUSTED EBITDA

GM 4.9% Aftermarket 61% 72% & OES Other O'Reilly Top Customers 3.6% 48.8% Auto Parts

North 3.2% America ATR China 49% 8% 3.0% NAPA

2.9% ROW 9% 2.9% Daimler AG 28% Regions 2.5% PEPBoys / 2.1% AutoPlus 2.0% FCA AM OE 1.9% 1.8% 1.9% The Group 34% ADI Motorparts Ride Performance Alliance Renault/Nissan/ Tata Europe Group Mitsubishi Motors

See reconciliations of GAAP to non-GAAP financial metrics in Tenneco’s press release issued March 2, 2020. 20 Motorparts Segment Leading Aftermarket Product Categories, Brands and Services

• Shock absorbers • Steering and suspension • Brake pads, shoes, linings • Gaskets PRODUCTS • Struts and strut assemblies • Wheelend • Rotors and drums • Seals

POSITION 1 #1 North America #1 Globally #1 North America #1 North America Top 3 EMEA

• Suspension links, bushings, • Brake pads • Emission control products • Ignition mounts, exhaust isolators PRODUCTS • Brake shoes, linings • Underhood service • Shocks and struts

2 1 Top 3 North America POSITION #1 Globally Top 3 EMEA #1 South America & EMEA

Global multi-category, multi-brand portfolio of products, services and solutions

1) Market position among branded competitive set. 2) For ignition products 21 Motorparts Segment Vehicles 6-13 years old (units, millions)

AFTERMARKET GROWTH OPPORTUNITIES in three priority markets NORTH AMERICA 138 134

128

123 122 North America 119 117 117 • Vehicles In Operation (VIO) tailwind – VIO aged 6 to 13 116 116 years growing 2.9% CAGR through 2025 • Opportunity to recapture previous years’ channel conflict business loss (~$300M)

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Europe CHINA 147 152 • Share capture opportunity – Europe business is ~40% 140 the size of our North America business with a larger VIO 128 112 99 86 73 61 China 51 • China market growth – poised to be the largest aftermarket in the world by 2025 with low double digit growth in VIO aged 6 to 13 years 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Note: based on IHS global LV VIO forecast. Data released 1/31/2020

22 Ride Performance Segment Elevating the OE Ride Experience

NVH Performance Materials Advanced Suspension Tech Ride Control Braking

Offers a suite of noise Dedicated to helping drivers Offers one of the broadest vibration and harshness experience the perfect ride A global leader in product portfolios of (NVH) solutions with and delivering advanced conventional suspension friction products in the solid coverage across LV suspension technologies solutions, DRiVTM sells market, including solutions and CT markets and that offer performance, more than 75 million OE for zero-copper friction electric vehicle comfort and the power to shocks and struts globally. materials. platforms differentiate vehicles.

= Technology Growth Optimize Performance Growth Engine = Selective Growth

23 Ride Performance Growth Engines

NVH Performance Materials Advanced Suspension Technologies

Product & Material Targeted Platform and Portfolio Expansion Product Portfolio

Leading Edge NVH Solutions Global Market Share for Emerging Mobility Market Expansion

Regional Expansion & Enhance System-level Penetration Capabilities

Engineered solutions provider in NVH isolation and advanced suspension technologies

24 Appendix

25 Commitment to Corporate Social Responsibility Driving Results 2019 Corporate Social Responsibility and Sustainability Report

Environmental Social Governance

2019 Performance Health and Safety Board and Leadership (as of September 2020) • Regular board and governance refreshment process • 90% of directors are independent 13% Lower Lost • 5 directors added since 2019 18.8% Reduction 11% Reduction in 8% Lower Day Case Rate in Energy Use Water Withdrawal Incident Rate • 30% of directors are female • 33% of our manufacturing sites are OHSAS • ~5 year average director tenure 18001 / ISO 45001 third party certified; Goal is 100% Ethical and Secure Practices • Code of Conduct and Supplier Code of Product Safety and Quality 2.6% Reduction 11.3% Reduction in GHG Conduct are compatible with the UN in Overall Waste Emission Intensity • 92% of locations certified to IATF 16949 Declaration of Human Rights and the UN vs. 2017 baseline and ISO 9001 Global Compact principles • 79% of global mfg. sites ISO 14001 certified Workforce Diversity • Comprehensive risk-based information • Product innovations driven by fuel security program based on industry best • 23% of US employees are ethnically diverse economy standards to reduce CO2 and practice frameworks for data security, such as criteria pollutant emissions • 24% of global team members are women NIST and ISO 27001 • 3% reduction targets set for energy, • 14.3% of leadership are women (VP & above) • Due diligence process to select vendors greenhouse gas emissions, water withdrawal, • 16,000 diversity partnerships through the sharing our values around human rights, and industrial waste for 2021 Local Job Network ethics and environmental responsibility

“As our company continues to evolve, true success can only be achieved by doing the right things the right way and constantly striving to make the communities where we work and live better – both environmentally and socially.” - Brian Kesseler, CEO

Motorparts and Powertrain business Groups 26 Appendix: Diversified Business Profile Combined Tenneco – 2019 VA Revenue $14.4 billion

TOP OE PLATFORMS (MODELS)

7% MQB A/B (Golf, Octavia and Sagitar passenger cars) General Motors 9.6% 2% Ford T3/P552 LD (LD F-150 truck) 2% GM K2XX / T1XX LD (LD Silverado and Sierra trucks) Ford Motors 8.6% 2% Ford T3/P558 HD (HD Super Duty truck) 2% GM C1XX (Traverse, Enclave and Acadia SUVs) 1% Daimler MRA (E and C class passenger cars) Other VW Group 38.3% 1% GM Global Delta/D2XX (Monza passenger car and Equinox SUV) Top Customers 8.4% 1% BMW LU (X1 and Mini passenger cars) VA revenue 1% Daimler MFA (CLA and A-Class passenger cars and GLA SUV)

Daimler AG 1% GM K2XX / T1XX HD (HD Silverado and Sierra trucks) 6.1% 1% BMW LK/L7 (3 Series and Z4 passenger cars) 1% GM Global Epsilon/E2XX (Malibu and Regal passenger cars and XT4 SUV ) FCA 5.6% 1% VW MQB A0 (Polo passenger car and T-Cross SUV) 1% RAM DS HD (Ram DS HD truck) 1.5% 3.2% 1.9% 3.1% O’Reilly Auto Parts 2.8% 1% Ford C1 (Focus passenger car; Escape and Kuga SUVs) 1.9% BMW 2.1% 2.5% Renault/ Nissan PSA Peugeot Citroen SAIC 2.2% 2.2% FAW Mitsubishi Toyota Tata Motors Advance Auto Parts Caterpillar

27 Appendix: Motorparts Segment Our Categories, Product Lines, Brands Create Depth and Scale

Categories Shocks & Steering & Braking Maintenance Struts Suspension Sealing Engine Emissions

Brands

Product lines Shock Absorbers Control Arms Shoes Head Gaskets Pistons Catalytic Converters Spark Plug

Strut Assemblies Ball Joints Pads Valve Cover Gaskets Piston Ring Set Exhaust Manifolds Air Filters

Bare Strut Tie Rod Ends Rotors Oil Seals Engine Bearings Exhaust Pipes Oil Filters

Coil Springs Wheel Bearings Drums Other Gaskets Valves Cabin Air Filter

Top Mounts Sway Bar Links Master Cylinders Valve-train Batteries

RC Accessories Hub Assembly Camshaft Headlamps

Universal Joints Valve Lifters Glow plug

Oil Pump Chemical

OE heritage brings strong culture of engineering, performance and quality 28 Appendix: Full Year 2019 Financial Results

($ millions, except percents and per share data) 2019 Adjusted Free Cash Flow(5) ($ millions) Revenue $17,450 2019

VA revenue 14,423 Cash from operations $444 Deferred proceeds from factored receivables(3) 250 Adjusted EBITDA 1,415 Cash payments for PP&E(4) (744) VA adjusted EBITDA margin 9.8% Adjusted Free Cash Flow $(50) Interest expense 322 (5) Adjusted Free Cash Flow represents cash flow from operations, plus the proceeds from factored receivables less the amount of cash payments for property, plant and equipment and software (including a non-cash adjustment for Adjusted noncontrolling interest expense 63 amounts not paid as of the end of the period). Adjusted Free Cash Flow is not a GAAP calculation and should not be considered as an alternative to operating cash flows as a measure of liquidity. Tenneco has presented Adjusted Free Cash Flow because it regularly reviews Adjusted Free Cash Flow a measure of the company's performance. In Adjusted EPS $2.98 addition, Tenneco believes its investors utilize and analyze the company's Adjusted Free Cash Flow for similar purposes. However, the Adjusted Free Cash Flow measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation. Adjusted D&A(1) 658

Capital expenditures(2) 713

(1) Difference between Adjusted EBITDA and Adjusted EBIT. (2) Additions to PP&E, excluding expenditures for software of $27M. (3) See Proceeds from deferred purchase price of factored receivables on the cash flow statement in the Investing section. Amount is reclassified from Change in receivables in the Cash from operations section. (4) Cash payments for PP&E includes capital expenditures for PP&E and software and includes a non-cash adjustment for amounts not paid as of the end of the period.

See reconciliations of GAAP to non-GAAP financial metrics in Tenneco’s press release issued March 2, 2020. 29 Appendix: Tenneco Projections

Tenneco’s outlook for the fourth quarter of 2020 is as of November 2, 2020. Outlook assumptions are based on projected customer production schedules, IHS Markit light vehicle production October 2020 forecasts, IHS Markit commercial truck August 2020 forecasts, Power Systems Research October 2020 forecasts and Tenneco estimates. Furthermore: • Projections are based on original equipment manufacturers’ programs that have been formally awarded to the company; programs where the company is highly confident that it will be awarded business based on informal customer indications consistent with past practices; and Tenneco's status as supplier for the existing programs and its relationship with customers. • Projections are based on the anticipated pricing of each program over its life. • Except as otherwise indicated, projections assume a fixed foreign currency value. This value is used to translate foreign business to the U.S. dollar. • Projections are subject to increase or decrease due to changes in customer requirements, customer and consumer preferences, the number of vehicles actually produced by our customers, and pricing.

In addition to the information set forth herein, Tenneco’s projections are based on the type of information set forth under “Order Fulfillment” in Item 1 – “Business” as set forth in Tenneco’s Annual Report on Form 10-K for the year ended December 31, 2019. Please see that disclosure for further information.

Certain elements of the restructuring and related expenses, legal settlements, substrate pricing, and other unusual charges we incur from time to time cannot be forecasted accurately. In this respect, we are not able to forecast corresponding GAAP measures without unreasonable efforts on account of these factors and other factors not in our control.

30