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BorgWarner's $380,000 Rolling Jackpot Up for Grabs by Next Back-to-Back Indianapolis 500 Winner

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- Prize money could be awarded to Takuma Sato if he wins the 2021 race

- BorgWarner adds $20,000 to rolling jackpot each year, current total is $380,000 (41,300,000 yen)

- Helio Castroneves is the only driver to have ever won this jackpot in 2002

INDIANAPOLIS, May 17, 2021 /PRNewswire/ -- BorgWarner is once again increasing the anticipation of the Indianapolis 500 outcome with its rolling jackpot, now sitting at $380,000 (¥41,300,000), at stake. The prize money payout will go to the next back-to-back Indianapolis 500 winner, with Takuma Sato in the driver's seat this year to claim the jackpot if he makes it to victory circle. Every year the company adds an additional $20,000 to the hefty prize money; if there is not a back-to-back victory for the winning driver, the funds get rolled over to the following year's race.

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

"The Indianapolis 500 is a cherished pastime for our company and the rolling jackpot, on top of the coveted Borg-Warner Trophy®, brings an added level of excitement to the race," said Frédéric Lissalde, President and CEO, BorgWarner Inc. "We are delighted to have accumulated this sizeable reward and eager to witness the next back-to-back victor claim the prize for their remarkable accomplishment."

This tradition was started in 1995 as a way for BorgWarner to add more excitement to this already highly anticipated motorsport classic. The back-to-back win is a rare feat in this legendary race, with only five drivers ever accomplishing it since the race's inception in 1911. The noteworthy drivers include Wilbur Shaw (1939-1940), Mauri Rose (1947-1948), Bill Vukovich (1953-1954), Al Unser (1970-1971) and most recently, Helio Castroneves (2001-2002). Castroneves' 2002 win is the only time a driver has ever received the jackpot payout.

If Sato, who has two Indy 500 wins (2017 and 2020) under his belt, clinches victory, the rolling jackpot will start over at $20,000 for the 2022 race. If Sato does not take the trophy, the $380,000 will carry over to next year with an additional $20,000 added by BorgWarner.

Beyond the possibility of winning $380,000, this year's winner will also have a sculpted replica of their face forever affixed to the iconic Borg-Warner Trophy®. In addition, the champion will receive a miniature version of the Borg-Warner Trophy, recognized as the BorgWarner Championship Driver's Trophy® or "Baby Borg" as their personal keepsake.

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 24 countries, the company employs approximately 50,000 worldwide. For more information, please visit borgwarner.com.

The Borg-Warner Trophy®, BorgWarner Championship Driver's Trophy®, and BorgWarner Championship Team Owner's Trophy® are trademarks of BorgWarner Inc.

Forward-Looking Statements: This press release 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 press release 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 in 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 press release. 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: uncertainties regarding the extent and duration of impacts of matters associated with COVID-19, including additional production disruptions; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that the Company completed on October 1, 2020; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; the possibility that the proposed transaction between the Company and AKASOL AG will not be consummated; failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the proposed transaction; failure to realize the expected benefits of the proposed transaction; our dependence on automotive and truck production, both of which are highly cyclical and subject to disruptions; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; 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 noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Form 10-K. 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 press release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

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SOURCE BorgWarner