Global Auto Industry Conference

June 2020

Forward-Looking Statements

Certain information contained in this presentation constitutes forward-looking statements for purposes of the safe

harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which

are beyond our control, that affect our operations, performance, business strategy and results and could cause our

actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any

forward-looking statements. These factors include, but are not limited to: the impact on us of the COVID-19 pandemic;

our ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and potential

competitors; increases in the prices paid for raw materials and energy; a labor strike, work stoppage or other similar

event; foreign currency translation and transaction risks; deteriorating economic conditions or an inability to access

capital markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the adequacy

of our capital expenditures; our failure to comply with a material covenant in our debt obligations; potential adverse

consequences of litigation involving the company; as well as the effects of more general factors such as changes in

general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are

discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K,

quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent

our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date.

While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any

obligation to do so, even if our estimates change.

2

Of

4

• Largest tire

company in North

America

• $14.7B in revenue

• 155M units

• 46 manufacturing

facilities in 21

countries(b)

• 63K employees

worldwide

Company Overview

(a) Based on 2019 results; (b) As of May 2020; (c) Based on internal estimates

Global leader built on more than 120 years of experience

• 2 world-class

innovation

centers

• Innovation lab in

San Francisco

• 7 tire proving

grounds

• 5,200 patents

• 1,400 patents

pending

Innovation(a)Portfolio of

Brands

Pervasive

Distribution

• Over 13,000

retail touch points(c)

• Concentrated

network of value-

added third-party

distribution

partners

• ~200 corporate-

owned warehouse

distribution facilities

• Leading B2C

E-commerce

platform

Diverse

End Markets (a)

74%26%

Replacement OE

60%

20%

4%3%

13%

Consumer CommercialRetail ChemicalOther

Industry

Leader(a)

54%

32%

14%

Americas EMEA AP

Sales

Units

4

Positives

• U.S. consumer replacement business performed

well (4% unit growth)

• Global commercial truck tire shipments

outpaced industry

• Price versus raw materials positive in 2H19 (first

time in 3 years)

• Strong cash flow generation

• Commenced restructuring actions to lower

manufacturing costs in Germany & the U.S.

• OE fitment wins continuing to outperform; EV

and hybrid platforms accounted for 25% of wins

Reflecting on 2019 Results

Negatives

• Weak global light vehicle production

• Higher raw material costs, including non-

feedstock costs

• Recessionary consumer replacement demand

and distribution challenges in Europe

• Volatility in emerging markets, including China &

Brazil

• Transactional foreign exchange / strong U.S.

dollar

5

Making progress in a challenging environment

6

Product Vitality: U.S. Consumer Replacement

Industry leading product offering helped drive

U.S. consumer replacement volume to a multi-year high in 2019 6

Be

st-

in-C

lass P

rod

uct

Po

rtfo

lio

Assurance ComfortDrive

WinterCommand Ultra

• Positions Goodyear to win in winter category

• Delivers premium ice and snow performance

• Offered in over 50 sizes

• Premium line for all-important commuter

touring category

• Exceptional comfort and noise cancellation

• Superior performance on wet pavement

➢Launched 10 new major

product lines during

the past 3 years

➢Setting the industry

standard for product

performance & design

➢2020 launches set to drive

further improvements in

product mix

Technology Creates Profit Pools

7

Industry leading products allow us to focus on growing, high-margin segments

(a) All percentages are approximate

Goodyear Consumer ≥17” Sales Volume

Full-Year 2019(a) OE Replacement Total

Americas 75% 50% 55%

EMEA 45% 30% 35%

Asia Pacific 40% 30% 35%

Total Company 55% 40% 45%

+5% YOY

+5% YOY

+5% YOY

+5% YOY

+10% YOY

+5% YOY

8

Goodyear recently named preferred tire supplier by Ryder System

9

Goodyear Fleet Services

➢ Industry-Leading Products

✓ Premium OE / replacement tires and retreads

➢ Innovative Technology & Solutions

✓ Real-time, data-driven information and

connected tools and systems to maximize uptime

✓ Reducing cost of ownership

➢ Advantaged Network

✓ Goodyear Commercial Tire & Service Network

provides complete geographic coverage

(2,300 locations in U.S. and Canada)

✓ Expanded retread footprint

✓ Consistent experience, pricing and billing

European Aligned Distribution

(a) Western Europe

(b) Business-to-consumer distribution

(c) Business-to-business distribution10

Car

Dealer

4M

Un

its

Other

Wholesale

Distributor

Full-Service

Distributor

Consumer Replacement(a)

Direct Distribution(b)

(~21M Units)

Wholesale Distribution(c)

(~12M Units)

Traditional

Retail

Large Retail

&

Other On-Line

5M

Un

itsAligned

E-Commerce

~1.5M units

of disruption

in 2020

Decreased emphasis on

channel going forward Margin opportunity of

$2 - $4 per tire from

enhanced focus on brand

COVID-19 Update &

Outlook

12

Q2 Cost Reductions

− Salaried payroll ($65 million)

− Marketing and other SAG ($75 million)

Cash & Liquidity Actions (2020 Impact)

− Capex ($100 million)

− Dividend suspension ($110 million)

− Tax deferrals ($60 million U.S., International TBD)

− Expanded U.S. ABL “borrowing base” (~$350 million)

− Issued $800 million of senior unsecured notes due May 2025

Structural Cost Savings (versus 2019 baseline)

− German restructuring remains on track (2022 savings of $60-70 million)

− Agreement to close Gadsden, AL (2021 savings of $130 million)

COVID-19 Update Financial Review Summary

(a) Source: LMC forecast; includes OE and replacement demand 13

Volume recovery underway

Q4 2020Q4 2019

Containment

Full

Recovery

Improving

Demand

Expected Volume Recovery Curve(a) Improving Environment

• Goodyear-Pulandian is operating with

100% of its workforce

• Major OEMs have resumed production

• All key distributors are up and running

• 99%+ of retail channel reopened

• OE nomination process returning to

pre-COVID-19 levels

COVID-19 Update China Business Conditions

COVID-19 Update Tire Production: Status Update as of April 30th

(a) Includes a manufacturing facility in Gadsden, Alabama, which has been permanently closed subsequent to April 30th

Nearly all tire manufacturing facilities are operating

14

≥ 70% Capacity 0 plants

< 70% Capacity 1 plants

Idle(a) 12 plants

EMEA

Asia Pacific

≥ 70% Capacity 0 plants

< 70% Capacity 10 plants

Idle 3 plants ≥ 70% Capacity 2 plants

< 70% Capacity 0 plants

Idle 5 plants

Americas

14

5

4

6

0

3

0

May 31st

Agreement reached to

permanently close Gadsden;

$130M of savings in 2021

4

7

4

15

2020 Outlook as shown on April 30, 2020

• Limited visibility into full-year industry outlook; assume largest

volume decline in Q2 (~50%)

• Production volume forecasted down ~25 million units in Q2

(unabsorbed overhead recognized immediately)

• COVID-19 impacting retail, chemical and aviation businesses

(-$150 million in Q2)

• Raw material prices are trending favorably, with potential

benefit in 2H

• Anticipate working capital to be a use of cash in Q2 given

expected lower accounts payable; source of cash for FY

(a) See Working Capital and Free Cash Flow reconciliation in Appendix on page 38 16

Historical Cash Flow Seasonality: Strong 2H Inflows(a)

Terms: US$ millions

➢ Seasonal swings in working capital

drive consistent patterns in free

cash flow

➢ Build-up of accounts receivable

and inventory in the first half of the

year are typically reversed in the

second half

➢ Working capital tends to serve

as a source of cash in a downturn

➢ Consistently generate free cash

flow during the second half of the

year, including in 2009 during the

Great Recession $(1,000)

$(500)

$-

$500

$1,000

$1,500

1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1Q

Working capital Free cash flow

2015 2016 2017 2018 2019

1H 2H 1Q1H 2H 1H 2H 1H 2H 1H 2H

2020

Working capital expected to

be a source of funds in 2020

Pricing relative to raws resilient in economic downturn; favorable trends in feedstock prices likely to benefit 2H results

Price vs Raw Materials During the Great Recession

(a) Price changes are versus prior year; excludes the benefits of mix. Raw materials changes are versus prior year and exclude raw material cost savings 17

$(400)

$(200)

$-

$200

$400

Ma

rgin

Im

pa

ct

($ M

illio

ns)

Price and Raw Materials(a)

Raw Materials

PriceQ1

2009Q2

2010

($162)

$24

$280

$354

$258

($20)

($400)

($200)

$0

$200

$400

Ma

rgin

Im

pa

ct

($ M

illio

ns)

Net Price vs Raw Materials(a)

Q1

2009Q2

2010

Q1 Financial Review

First Quarter 2020

Segment Operating Results

(a) Price/mix excludes the impact of equity interest in TireHub ($2 million headwind year over year)

(b) Raw materials variance of $13 million excludes raw material cost saving measures of $17 million, which are included in cost savings

(c) Estimated impact of inflation (wages, utilities, energy, transportation and other)

(d) Includes the impacts of other tire-related businesses, advertising, R&D and equity interest in TireHub ($2 million headwind year over year)

19

Terms: US$ millions

Q1

2019

SOI

Q1

2020

SOI

Volume

Unabsorbed

Fixed Cost

Raw

Materials(b)Price/Mix (a)

Cost

SavingsInflation(c) Currency

Other(d)

Total Volume Impact

($190)

Net P/M vs Raws

$13

Net Cost Savings

$0

$190

$0$13

$38

($120)

($70)

($38)

($3) ($57)

($47)

$50M

of period

charges

Other Includes

($15M) WIP write-off

($10M) Gadsden production costs

($8M) Other tire-related businesses

First Quarter 2020

Segment Results

Note: US$ in millions. Units in millions. 20

• Americas’ operating income ahead of prior

year through February

• U.S. consumer volume significantly affected

by lower industry demand

• U.S. commercial replacement shipments

increased 5%

• Price vs. raw material costs continue to

recover

• SOI also negatively impacted by costs

associated with suspending production in

March (~$30 million)

• European consumer volume significantly

affected by lower industry demand

• Commercial replacement volume slightly

positive

• Price vs. raw material costs continue to

recover

• Emerging markets volume stable vs. prior

year

• SOI also negatively impacted by costs

associated with suspending production in

March (~$20 million)

• Strong consumer replacement performance

excluding China through February

• Consumer volume significantly affected

by lower industry demand in China and India

• SOI continued to be affected by unfavorable

OE pricing conditions

Americas2020 2019 Change

Units 14.5 16.7 (13.4)%

Net Sales $1,673 $1,876 (10.8)%

Operating

Income

(Loss)

-- $89 (100.0)%

Margin -- 4.7%

EMEA2020 2019 Change

Units 11.6 14.4 (19.6)%

Net Sales $995 $1,221 (18.5)%

Operating

Income

(Loss)

$(53) $54 (198.1)%

Margin (5.3)% 4.4%

Asia Pacific2020 2019 Change

Units 5.2 6.9 (23.9)%

Net Sales $388 $501 (22.6)%

Operating

Income$6 $47 (87.2)%

Margin 1.5% 9.4%

First Quarter 2020

Income Statement

(a) See Segment Operating Income (Loss) and Margin reconciliation in Appendix on page 33

(b) See Adjusted Diluted Earnings (Loss) Per Share reconciliation in Appendix on pages 34 and 35 21

Terms: US$ millions

(except EPS)March 31, March 31,

2020 2019 Change

Units 31.3 38.0 (18)%

Net Sales 3,056$ 3,598$ (15)%

Gross Margin 16.5% 20.0% (3.5) pts

SAG 581$ 547$ 6%

Segment Operating Income (Loss)(a) (47)$ 190$ (125)%

Segment Operating Margin(a) -1.5% 5.3% (6.8) pts

Goodyear Net Income (Loss) (619)$ (61)$

Goodyear Net Income (Loss) Per Share

Weighted Average Shares Outstanding 234 232

Basic (2.65)$ (0.26)$

Weighted Average Shares Outstanding - Diluted 234 232

Diluted (2.65)$ (0.26)$

Cash Dividends Declared Per Common Share 0.16$ 0.16$

Adjusted Diluted Earnings (Loss) Per Share (b) (0.60)$ 0.19$

Three Months Ended

First Quarter 2020

Balance Sheet

(a) Working capital represents accounts receivable and inventories, less accounts payable – trade

(b) See Total Debt and Net Debt reconciliation in Appendix on page 36

(c) See reconciliation for Total Debt to EBITDA, as adjusted in Appendix on page 37

22

Terms: US$ millions

March 31, December 31, March 31,

2020 2019 2019

Cash and cash equivalents 971$ 908$ 860$

Accounts receivable 2,025$ 1,941$ 2,446$

Inventories 2,919 2,851 2,940

Accounts payable - trade (2,645) (2,908) (2,737)

Working capital(a)

2,299$ 1,884$ 2,649$

Total debt(b)

6,524$ 5,663$ 6,506$

Net debt(b)

5,553$ 4,755$ 5,646$

Memo:

Total debt / EBITDA, as adjusted(c)

4.8x 3.5x 3.5x

First Quarter 2020

Free Cash Flow

(a) Other includes goodwill impairment, amortization and write-off of debt issuance costs, net pension curtailments and settlements, net rationalization charges, net (gains) losses on asset sales, operating lease

expense and payments, compensation and benefits less pension expense, other current liabilities, and other assets and liabilities 23

Terms: US$ millions

Includes $182M non-cash

impairment charge

Trailing Twelve Months

Ended

2020 2019 March 31, 2020

Net Income (Loss) (617)$ (44)$ (870)$

Depreciation and Amortization 196 193 798

Change in Working Capital (482) (589) 189

Pension Expense 30 34 128

Pension Contributions and Direct Payments (19) (18) (80)

Provision for Deferred Income Taxes 235 (23) 581

Rationalization Payments (73) (18) (114)

Other(a)

169 101 378

Cash Flow from Operating Activities (GAAP) (561)$ (364)$ 1,010$

Capital Expenditures (211) (221) (760)

Free Cash Flow (non-GAAP) (772)$ (585)$ 250$

Cash Flow from Investing Activities (GAAP) (257)$ (244)$ (813)$

Cash Flow from Financing Activities (GAAP) 939$ 645$ (13)$

Three Months Ended

March 31,

First Quarter 2020

Liquidity Profile (Pro Forma for U.S. ABL Refi)

(a) Total liquidity is comprised of $971 million of cash and cash equivalents, as well as $2,627 million of unused availability under various credit agreements, pro forma for the refinancing of the $2.0 billion

U.S. revolving credit facility

(b) First quarter liquidity dating back through 2014 and excluding prior note refinancings 24

Cash &

Equivalents

$3.6(a)

Terms: US$ billions

Available

Credit Lines

• Strongest ending Q1 Cash &

Available Liquidity position in

recent history(b)

• Liquidity and balance sheet

remain top priorities

Net proceeds from

$800M Senior Unsecured Note

offering enhances our financial flexibility

Appendix

2020 Outlook – Other Financial Assumptions

(a) Excludes one-time charges and benefits from pension settlements and curtailments

(b) Excludes one-time items 26

Current Assumption

Raw Materials $50 - $100 million benefit, excluding transactional foreign currency

Interest Expense $350 - $375 million

Other (Income) ExpenseFinancing fees: ~$40 million

Global pension related (excluded from SOI)(a): $75 - $95 million

Income Tax Cash: ~$60 million(b) (~$30 million for the remainder of the year)

Depreciation & Amortization ~$775 million

Global Pension Cash Contributions $25 - $50 million

Working Capital Positive

Capital Expenditures No more than ~$700 million

Restructuring Payments $175 -$200 million

Corporate Other $90 - $115 million

As shown on April 30, 2020

Terms: US$ millions

Raw Material Overview

(a) Impact to cost of goods sold versus prior period, excluding the impact of raw material cost saving measures

Full Year = $725 Full Year = $266 Full Year = $278

27

Outlook

• 2020 raw material costs $50 - $100

million benefit, excluding

transactional foreign currency

• Turkish Lira and Brazilian Real

drivers of unfavorable

transactional foreign currency

As shown on April 30, 2020

Raw Materials

✓ Raw materials are ~44% of tire COGS

✓ ~68% of raw materials are influenced by oil

prices

- P&L impact lags spot rates by 1-2 quarters

depending on commodity

✓ ~63% of raw materials are purchased in USD

✓ Customer agreements indexed to raw

materials

- OE customers

- Certain large commercial fleets

- OTR customers

28

Global Raw Material Spend

Feedstock ~65% of raw material spend

FY 2019 ($4.4 Billion)

*Petrochemical based

Modeling Assumptions

Note: Volume, pricing and raw materials modeling assumptions based on Goodyear's public disclosures. Currency, cost inflation, profit margin and overhead absorption figures based on internal estimates.29

• 1% Δ in U.S. Consumer OE Industry ~102 • 1% Δ in U.S. Consumer Replacement ~$29M'' • +/- 0.01 Δ USD/BRL (e.g. R$3.79 to R$3.78 is favorable by 0.01) +/-$0.3M

• 1% Δ in U.S. Consumer Replacement Industry ~368 • 1% Δ in U.S. Commercial Replacement ~$10M'' • +/- 0.01 Δ USD/CNY (e.g. ¥6.75 to ¥6.74 is favorable by 0.01) +/-$0.2M

• 1% Δ in U.S. Commercial OE Industry ~8 • 1% Δ in European Consumer Replacement ~$22M'' • +/- 0.01 Δ USD/EUR (e.g. €0.87 from €0.86 is favorable by 0.01) +/-$1.5M

• 1% Δ in U.S. Commercial Replacement Industry ~30 • 1% Δ in European Commercial Replacement ~$7M'' • +/- 0.01 Δ USD/TRY (e.g. ₺5.42 from ₺5.41 is favorable by 0.01) +/-$0.1M

• 1% Δ in European Consumer OE Industry ~117

• 1% Δ in European Consumer Replacement Industry ~358

• 1% Δ in European Commercial OE Industry ~10

• 1% Δ in European Commercial Replacement Industry ~30

• Consumer OE ≥17" ~$15 • 1% Δ in Synthetic Rubber Prices (3 to 4 month lag) ~$7M'' • +/- 0.01 Δ USD/BRL (e.g. R$3.79 to R$3.78 is favorable by a 0.01) +/- $0.9M

• Consumer Replacement ≥17" ~$28 • 1% Δ in Natural Rubber Prices (4 to 6 month lag) ~$5M'' • +/- 0.01 Δ USD/CNY (e.g. ¥6.75 to ¥6.74 is favorable by a 0.01) +/- $0.2M

• Consumer OE <17" ~$5 • 1% Δ in Pigment, Chemical, & Oil Prices (3 to 4 month lag) ~$5M'' • +/- 0.01 Δ USD/EUR (e.g. €0.87 from €0.86 is favorable by a 0.01) +/- $3.2M

• Consumer Replacement <17" $7 - $9 • 1% Δ in Wire/Other Prices (3 to 4 month lag) ~$4M'' • +/- 0.01 Δ USD/TRY (e.g. ₺5.42 from ₺5.41 is favorable by a 0.01) +/- $0.2M

• Commercial - U.S. and Europe $50 - $60 • 1% Δ in Carbon Black (3 to 4 month lag) ~$4M'' • +/- 0.01 Δ EUR/TRY (e.g. ₺6.25 from ₺6.24 is favorable by a 0.01) +/- $0.2M

• 1% Δ in Fabric Prices (3 to 4 month lag) ~$3M''

• Americas Consumer $10 -$15 • 1% Δ in Global Inflation ~$55M

• Americas Commercial $50 - $60 • 1% Δ in Americas Inflation ~$26M

• EMEA Consumer $8 - $12 • 1% Δ in EMEA Inflation ~$24M

• EMEA Commercial $30 - $35

Volume Sensitivities(Impact on Goodyear's Annual Units in 000's)

Approximate Profit Margin Per Tire (Industry Estimate)

Pricing(Annual Impact of Effective Pricing Yield)

Tire Raw Material Spend(Annual Impact)

Translational Foreign Currency(Annual Impact on FX portion of SOI Walk)

Transactional Foreign Currency(Annual Impact on Raw Material portion of SOI Walk)

Cost Inflation(Annual Impact)

Approximate OH Absorption Per Tire(1 Quarter Lag)

3030(a) See Segment Operating Income and Margin reconciliation in Appendix on page 33

Cycle-to-Cycle Performance

Generating stronger earnings throughout the earnings cycle

0%

2%

4%

6%

8%

10%

12%

14%

$-

$.5

$1.0

$1.5

$2.0

$2.5

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

(in

bil

lio

ns)

Segment Operating Income(a)

Americas EMEA Asia Pacific SOI Margin

$1.7 $1.6 $1.5$1.1 $1.0 $0.8 $0.9

$1.7$2.6 $2.7

$3.0 $3.2$3.2

$3.6

December 31, 2008 December 31, 2009 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019

Historical Liquidity Profile

(a) Excludes $162M of cash in Venezuela

(b) Excludes $370M of cash in Venezuela31

Terms: US$ billions

Available

Credit Lines

Cash &

Equivalents

$4.1 $4.2$4.0

$4.5

Great Recession

$4.1(b)

$3.4(a)

$4.2

Exited 2019 with

strong liquidity

Use of Non-GAAP Financial Measures

This presentation contains historical non-GAAP financial measures, including Total Segment Operating Income (Loss) and Margin, Adjusted EBITDA, Free Cash Flow,

Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share (EPS), which are important financial measures for the company but are not financial

measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP.

Total Segment Operating Income (Loss) is the sum of the individual strategic business units’ (SBUs’) Segment Operating Income (Loss) as determined in accordance

with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income (Loss) divided by Net Sales as determined in accordance with U.S. GAAP.

Management believes that Total Segment Operating Income (Loss) and Margin are useful because they represent the aggregate value of income (loss) created by the

company’s SBUs and exclude items not directly related to the SBUs for performance evaluation purposes. The most directly comparable U.S. GAAP financial

measures to Total Segment Operating Income (Loss) and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is calculated by dividing Goodyear

Net Income (Loss) by Net Sales).

EBITDA, as adjusted, represents Goodyear Net Income (Loss), as determined in accordance with U.S. GAAP (the most directly comparable U.S. GAAP financial

measure to EBITDA), before interest expense, income tax expense, depreciation and amortization expense, rationalization charges, goodwill impairment charges and

other (income) and expense. Management believes that Adjusted EBITDA is widely used by investors as a means of evaluating the company’s operating profitability.

Free Cash Flow is the company’s Cash Flows from Operating Activities as determined in accordance with U.S. GAAP, less capital expenditures. Management believes

that Free Cash Flow is useful because it represents the cash generating capability of the company’s ongoing operations, after taking into consideration capital

expenditures necessary to maintain its business and pursue growth opportunities. The most directly comparable U.S. GAAP financial measure is Cash Flows from

Operating Activities.

Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted

Earnings (Loss) Per Share (EPS) is the company’s Adjusted Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance

with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share (EPS) are useful because they represent how

management reviews the operating results of the company excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, asset sales and

certain other significant items.

It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may

not be comparable to such similarly-titled measures reported by other companies.

32

Reconciliation for Segment Operating Income (Loss) /Margin(a)

33

Terms: US$ millions

(a) 2010 – 2015 have been restated for the new guidance on the presentation of debt issuance and amortization costs effective in 2016, 2003 – 2009 have not been restated. 2016 – 2017 have been restated in alignment with the

new pension accounting standard adopted in 2018, 2003 – 2015 have not been restated. 2003 - 2012 have not been restated for the Americas consolidation. In July 2007, the Engineered Products business was sold; in 2005 -

2007 results from Engineered Products have been included in discontinued operations, 2003 - 2004 includes income from Engineered Products in income from continuing operations. 2014 and prior includes results from

Venezuela. Venezuela was deconsolidated in 2015

2020 2019 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003

Total Segment Operating Income (Loss) (47)$ 190$ 945$ 1,274$ 1,556$ 1,996$ 2,020$ 1,706$ 1,577$ 1,248$ 1,368$ 917$ 372$ 804$ 1,230$ 710$ 1,060$ 946$ 419$

Goodwill impairment (182) - - - - - - - - - - - - - - - - - -

Rationalizations (9) (103) (205) (44) (135) (210) (114) (95) (58) (175) (103) (240) (227) (184) (49) (311) (7) (56) (291)

Interest expense (73) (85) (340) (321) (335) (372) (438) (444) (407) (385) (350) (335) (311) (320) (468) (447) (408) (369) (296)

Other Income (expense) (27) (22) (98) 174 (70) (25) 141 (286) (82) (111) (53) (167) (40) (59) (9) 77 (62) (23) (317)

Asset write-offs and accelerated depreciation (4) - (15) (4) (40) (20) (8) (7) (23) (20) (50) (15) (43) (28) (37) (88) (4) (10) (133)

Pension curtailments/settlements - - - - - - (137) (33) - 1 (15) - - (9) (64) - - - -

Loss on deconsolidation of Venezuelan subsidiary - - - - - - (646) - - - - - - - - - - - -

Retained expenses of divested operations (2) (3) (10) (9) (13) (18) (14) (16) (24) (14) (29) (20) (17) - (17) (48) (52) (12) -

Other (24) (15) (100) (59) (85) (144) (196) (138) (170) (104) (150) (132) (91) (18) (141) (95) (75) (95) (39)

Income (Loss) from Continuing Operations

before Income Taxes(368)$ (38)$ 177$ 1,011$ 878$ 1,207$ 608$ 687$ 813$ 440$ 618$ 8$ (357)$ 186$ 445$ (202)$ 452$ 381$ (657)$

United States and Foreign Tax Expense (Benefit) 249 6 474 303 513 (77) 232 (1,834) 138 203 201 172 7 209 255 60 233 208 117

Less: Minority Shareholders Net Income 2 17 14 15 19 20 69 69 46 25 74 52 11 54 70 111 95 58 33

Income (Loss) from Continuing Operations (619)$ (61)$ (311)$ 693$ 346$ 1,264$ 307$ 2,452$ 629$ 212$ 343$ (216)$ (375)$ (77)$ 120$ (373)$ 124$ 115$ (807)$

Discontinued operations - - - - - - - - - - - - - - 463 43 115 - -

Cumulative effect of account change - - - - - - - - - - - - - - - - (11) - -

Goodyear Net Income (Loss) (619)$ (61)$ (311)$ 693$ 346$ 1,264$ 307$ 2,452$ 629$ 212$ 343$ (216)$ (375)$ (77)$ 583$ (330)$ 228$ 115$ (807)$

Net Sales (as reported) $3,056 $3,598 $14,745 $15,475 $15,377 $15,158 $16,443 $18,138 $19,540 $20,992 $22,767 $18,832 $16,301 $19,488 $19,644 $18,751 $18,098 $18,353 $15,102

Return on Net Sales (as reported) (20.3)% (1.7)% (2.1)% 4.5% 2.3% 8.3% 1.9% 13.5% 3.2% 1.0% 1.5% (1.1)% (2.3)% (0.4)% 3.0% (1.8)% 1.3% 0.6% (5.3)%

Total Segment Operating Margin (1.5)% 5.3% 6.4% 8.2% 10.1% 13.2% 12.3% 9.4% 8.1% 5.9% 6.0% 4.9% 2.3% 4.1% 6.3% 3.8% 5.9% 5.2% 2.8%

Three Months Ended

March 31, December 31,

Twelve Months Ended

First Quarter 2020 Significant Items(After Tax and Minority Interest)

34

Terms: US$ millions, (except EPS)

As

Reported

Discrete Tax

Items Asset Sales

Insurance

Recovery

Transaction

Costs Hurricane Effect

Brazil

Transportation

Strike

Pension

Settlement As Adjusted

Net Sales 3,841$ -$ -$ -$ -$ -$ -$ -$ 3,841$

Cost of Goods Sold 2,949 - - - - - (7) - 2,942

Gross Margin 892 - - - - - 7 - 899

SAG 588 - - - - - - - 588

Rationalizations (2) - - - - - - - (2)

Interest Expense 78 - - - - - - - 78

Other (Income) Expense 45 - 2 2 (11) (8) - (3) 27

Pre-tax Income 183 - (2) (2) 11 8 7 3 208

Taxes 19 28 (1) (1) 3 - 2 1 51

Minority Interest 7 - - - - - - - 7

Goodyear Net Income 157$ (28)$ (1)$ (1)$ 8$ 8$ 5$ 2$ 150$

EPS 0.65$ (0.10)$ (0.01)$ (0.01)$ 0.03$ 0.03$ 0.02$ 0.01$ 0.62$

Terms: US$ millions

(except EPS) The Goodyear Tire & Rubber Company

Q1 2020 Significant Items

As

Reported

Discrete

Tax Items

Goodwill

Impairment

Rationalizations,

Asset Write-offs,

and Accelerated

Depreciation

As

Adjusted

Net Sales 3,056$ -$ -$ -$ 3,056$

Cost of Goods Sold 2,552 - - (4) 2,548

Gross Margin 504 - - 4 508

SAG 581 - - - 581

Goodwill Impairment 182 - (182) - -

Rationalizations 9 - - (9) -

Interest Expense 73 - - - 73

Other (Income) Expense 27 - - - 27

Pre-tax Income (Loss) (368) - 182 13 (173)

Taxes 249 (290) 4 2 (35)

Minority Interest 2 - - - 2

Goodyear Net Income (Loss) (619)$ 290$ 178$ 11$ (140)$

EPS (2.65)$ 1.24$ 0.76$ 0.05$ (0.60)$

First Quarter 2019 Significant Items(After Tax and Minority Interest)

35

Terms: US$ millions, (except EPS)

As

Reported

Discrete Tax

Items Asset Sales

Insurance

Recovery

Transaction

Costs Hurricane Effect

Brazil

Transportation

Strike

Pension

Settlement As Adjusted

Net Sales 3,841$ -$ -$ -$ -$ -$ -$ -$ 3,841$

Cost of Goods Sold 2,949 - - - - - (7) - 2,942

Gross Margin 892 - - - - - 7 - 899

SAG 588 - - - - - - - 588

Rationalizations (2) - - - - - - - (2)

Interest Expense 78 - - - - - - - 78

Other (Income) Expense 45 - 2 2 (11) (8) - (3) 27

Pre-tax Income 183 - (2) (2) 11 8 7 3 208

Taxes 19 28 (1) (1) 3 - 2 1 51

Minority Interest 7 - - - - - - - 7

Goodyear Net Income 157$ (28)$ (1)$ (1)$ 8$ 8$ 5$ 2$ 150$

EPS 0.65$ (0.10)$ (0.01)$ (0.01)$ 0.03$ 0.03$ 0.02$ 0.01$ 0.62$

Terms: US$ millions (except EPS)

As

Reported

Rationalizations,

Asset Write-offs,

and Accelerated

Depreciation

Indirect Tax

Settlements and

Discrete Tax

Items

Legal Claims

Related to

Discontinued

Operations

Asset Sales

Net Insurance

Recovery from

Hurricanes

As

Adjusted

Net Sales 3,598$ -$ -$ -$ -$ -$ 3,598$

Cost of Goods Sold 2,879 - - - - - 2,879

Gross Margin 719 - - - - - 719

SAG 547 - - - - - 547

Goodwill Impairment - - - - - - -

Rationalizations 103 (103) - - - - -

Interest Expense 85 - - - - - 85

Other (Income) Expense 22 - - (5) 5 3 25

Pre-tax Income (Loss) (38) 103 - 5 (5) (3) 62

Taxes 6 18 (7) 1 (1) (1) 16

Minority Interest 17 - (16) - - - 1

Goodyear Net Income (Loss) (61)$ 85$ 23$ 4$ (4)$ (2)$ 45$

EPS (0.26)$ 0.36$ 0.10$ 0.02$ (0.02)$ (0.01)$ 0.19$

Reconciliation for Total Debt and Net Debt

36

Terms: US$ millions

March 31, December 31, March 31,

2020 2019 2019

Long-Term Debt and Finance Leases 5,212$ 4,753$ 5,545$

Notes Payable and Overdrafts 691 348 495

Long-Term Debt and Finance Leases Due Within One Year 621 562 466

Total Debt 6,524$ 5,663$ 6,506$

Less: Cash and Cash Equivalents 971 908 860

Net Debt 5,553$ 4,755$ 5,646$

Reconciliation for Total Debt to EBITDA, as adjusted

37

Terms: US$ millions

(a) Other includes rationalization charges, goodwill impairment charges, and other (income) expense

2020 2019 2019

Net Income (Loss) ($870) $584 ($297)

Interest Expense 328 330 340

Income Tax Expense 717 276 474

Depreciation and Amortization 798 772 795

Other(a)

396 (79) 303

EBITDA, as adjusted 1,369$ 1,883$ 1,615$

March 31, March 31, December 31,

2020 2019 2019

Long-Term Debt and Finance Leases 5,212$ 5,545$ 4,753$

Notes Payable and Overdrafts 691 495 348

Long-Term Debt and Finance Leases Due Within One Year 621 466 562

Total Debt 6,524$ 6,506$ 5,663$

Total Debt / EBITDA, as adjusted 4.8x 3.5x 3.5x

Trailing Twelve Months

Ended March 31,

Trailing Twelve Months

Ended December 31,

Working Capital andFree Cash Flow Reconciliation

38

Terms: US$ millions

Six months

ended

June 30, 2015

Six months

ended

December 31, 2015

Six months

ended

June 30, 2016

Six months

ended

December 31, 2016

Six months

ended

June 30, 2017

Six months

ended

December 31, 2017

Six months

ended

June 30, 2018

Six months

ended

December 31, 2018

Six months

ended

June 30, 2019

Six months

ended

December 31, 2019

Three months

ended

March 31, 2020

Accounts Receivable (439)$ 408$ (417)$ 628$ (470)$ 323$ (475)$ 303$ (445)$ 516$ (206)$

Inventories (13) (76) (176) 4 (482) 438 (222) 51 (233) 239 (170)

Accounts Payable - Trade (25) 103 (93) (63) 190 (105) 253 (30) (55) 60 (106)

Working Capital (477)$ 435$ (686)$ 569$ (762)$ 656$ (444)$ 324$ (733)$ 815$ (482)$

Total Cash Flows from Operating Activities 274$ 1,413$ (67)$ 1,624$ (185)$ 1,343$ (84)$ 1,000$ (291)$ 1,498$ (561)$

Capital Expneditures (448) (535) (466) (530) (497) (384) (442) (369) (401) (369) (211)

Free Cash Flow (174)$ 878$ (533)$ 1,094$ (682)$ 959$ (526)$ 631$ (692)$ 1,129$ (772)$

Total Cash Flows from Investing Activities (469)$ (793)$ (476)$ (503)$ (498)$ (381)$ (470)$ (397)$ (419)$ (381)$ (257)$

Total Cash Flows from Financing Activites (267)$ (718)$ 172$ (1,048)$ 426$ (841)$ 519$ (762)$ 811$ (1,118)$ 939$