DANA INC

Note1. Organization and Summary of Significant Accounting Policies

General

Dana Incorporated (Dana) is headquartered in Maumee, Ohio and was incorporated in Delaware in2007. Dana is a global provider of high technology driveline (axles, driveshafts and transmissions); sealing and thermal-management products; and motors, power inverters, and control systems for electric vehicles with a customer base that includes virtually every major vehicle manufacturer in the global light vehicle, medium/heavy vehicle and off-highway markets.

The terms "Dana," "we," "our" and "us," when used in this report, are references to Dana. These references include the subsidiaries of Dana unless otherwise indicated or the context requires otherwise.

Summary of significant accounting policies

Basis of presentation — Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information. These statements are unaudited, but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the results for the interim periods. The results reported in these consolidated financial statements shouldnot necessarily be taken as indicative of results that* maybe expected for the entire year. The financial information included herein should be read in conjunction with the consolidated financial statements in Item8* of our Annual Report on Form10-K for the year ended* December 31,* 2023 (the2023 Form10-K). Certain prior year amounts have been reclassified to conform to the current presentation.

Recently adopted accounting pronouncements

We didnot adopt any new accounting pronou ncements during thenine months ended* September 30, 2024*.

Recently issued accounting pronouncements

We donot expect any recently issued accounting pronouncements to have a material effect on our financial statements.

In* November 2023,the Financial Accounting Standards Board (FASB) issued ASU2023*-07, Segment Reporting (Topic280). The guidance enhances reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance becomes effective for fiscal years beginning after* December 15, 2023,and interim periods within fiscal years beginning after December 15, 2024,with early adoption permitted. Adoption of this update will haveno* impact on our financial statements. We will update our segment disclosure to conform with this update in our2024 Form10-K.

In* December 2023,the FASB issued ASU2023*-09, Improvements to Income Tax Disclosures. This guidance requires disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The guidance becomes effective for annual periods beginning after* December 15, 2024,*with early adoption permitted. We are currently evaluating the impact of the guidance on our financial statement disclosures.