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BorgWarner Joins Clean Energy Buyers Alliance (CEBA)

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- BorgWarner becomes CEBA member to further extend its environmental sustainability journey

- Joins mobility industry leaders

- Membership includes numerous renewable clean industry resources and events

AUBURN HILLS, Mich., Nov. 30, 2021 /PRNewswire/ -- BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market, has joined the Clean Energy Buyers Alliance (CEBA) as a "large energy buyer" member to support its commitment to environmental sustainability and vision of a clean, energy-efficient world. The alliance of large clean energy buyers, developers and service providers seeks to unlock the marketplace for energy consumers to lead a rapid transition to a cleaner, prosperous and zero-carbon energy future.

BorgWarner Logo (PRNewsfoto/BorgWarner)
BorgWarner Logo (PRNewsfoto/BorgWarner)

"BorgWarner is proud to join CEBA, the largest group of clean energy buyers in the United States," said Dr. Volker Weng, Vice President of BorgWarner Inc. and President and General Manager, Drivetrain Systems and Sustainability Steering Committee Champion. "The expansive knowledge base of the CEBA network will be a great asset to tap into as we explore the array of existing clean energy options and actively work to become carbon-neutral in our operations by 2035."

The CEBA community leverages peer-to-peer expertise and knowledge share, policy and regulatory advocacy, and foundational educational resources to accelerate renewable energy procurement. It includes more than 270 companies, 77 of which are featured on the Fortune 500 list. With BorgWarner's membership, it joins industry leaders in demonstrating their commitment to collectively realize a cleaner energy future.

By becoming a member of the alliance, BorgWarner gains admission to numerous assets to support its environmental sustainability journey including education materials for all members of the company, collaboration on innovative solutions, exclusive events, network building with fellow industry experts and the opportunity to share and amplify the company's market leadership across the industry.

"One of the best things about CEBA is the community of environmentally conscious people and companies that are coming together in an open forum to talk through the future and how we can collectively make a difference in the outlook of clean energy," continued Weng. "We're looking forward to collaborating with peers, learning from others and sharing best practices to reduce carbon emissions and create a net-zero economy."

BorgWarner officially became a member of CEBA on Oct. 1, 2021.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 23 countries, the company employs approximately 50,000 people worldwide. For more information, please visit borgwarner.com.

About CEBA
Clean Energy Buyers Alliance (CEBA) is a national association for large-scale energy buyers seeking to procure clean energy across the U.S. With more than 270 members from across the commercial and industrial sectors, nonprofit organizations, as well as energy providers and service providers, CEBA is working towards the creation of a resilient, zero-carbon energy system. CEBA's members represent over $6 trillion in annual revenues and over 14 million U.S. employees. CEBA's goal is to catalyze 60 gigawatts of new renewable energy projects by 2025 and to unlock the energy market for all large-scale energy buyers by creating viable pathways to procurement.

Forward-Looking Statements: This presentation may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this presentation that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2020 ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: supply disruptions impacting the us or our customers, such as the current shortage of semiconductor chips that has impacted original equipment manufacturer ("OEM") customers and their suppliers, including us; commodities availability and pricing; competitive challenges from existing and new competitors including OEM customers; the challenges associated with rapidly-changing technologies, particularly as relates to electric vehicles, and our ability to innovate in response; uncertainties regarding the extent and duration of impacts of matters associated with the COVID-19 pandemic including additional production disruptions; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that we completed on October 1, 2020; the failure to realize the expected benefits of the acquisition of AKASOL or a delay in the ability to realize those benefits; the failure to successfully execute on a timely basis our taking private strategy with respect to AKASOL; the difficulty in forecasting demand for electric vehicles and our electric vehicles revenue growth to 2030; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions; the ability to identify appropriate combustion portfolio businesses for disposition and consummate planned dispositions on acceptable terms; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to acquired businesses; our dependence on automotive and truck production, both of which are highly cyclical and subject to disruptions; our reliance on major OEM customers; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; impacts from any potential future acquisition or divestiture transactions; and the other risks, including, by way of example, pandemics and quarantines, noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this presentation to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

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Cision

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SOURCE BorgWarner