BorgWarner Inc. announced that as of 5:00 p.m., New York City time, on October 1, 2020, approximately $776.3 million in aggregate principal amount of outstanding 5.000% Senior Notes due 2025 of Delphi Technologies PLC, representing approximately 97.04% of the $800 million total outstanding principal amount of the DT Notes, were validly tendered and not validly withdrawn in connection with the previously announced private exchange offer and related consent solicitation made by BorgWarner on behalf of Delphi Technologies with respect to the DT Notes. BorgWarner previously announced it had received the requisite number of consents to adopt certain proposed amendments to the DT Notes and the related indenture under which they were issued and entered into a supplemental indenture to the DT Indenture implementing the Amendments. The supplemental indenture became effective upon its execution and delivery, and the Amendments will become operative upon settlement of the Exchange Offer, which is expected to occur on or about October 5, 2020. The Exchange Offer and Consent Solicitation were commenced in connection with BorgWarner's previously announced proposed acquisition of Delphi Technologies in an all-stock transaction, were made upon the terms and conditions set forth in an offer to exchange and consent solicitation statement dated September 2, 2020 and were conditioned upon the closing of the Transaction, which was completed on October 1, 2020. As of the Expiration Date, all conditions to the Exchange Offer and Consent Solicitation were satisfied. Eligible holders who validly tendered and did not validly withdraw their tendered DT Notes by 5:00 p.m., New York City time, on September 16, 2020 are eligible to receive, subject to the terms and conditions set forth in the Offering Memorandum, newly-issued notes of BorgWarner in the same principal amount as the DT Notes tendered therefor, plus cash consideration of $1.00 per $1,000 principal amount of DT Notes tendered. Eligible holders who validly tendered their DT Notes after the Early Tender Deadline but on or prior to the Expiration Date are eligible to receive $970 principal amount of the BorgWarner Notes per $1,000 principal amount of DT Notes validly tendered, but not the Cash Consideration. The BorgWarner Notes will be general unsecured unsubordinated obligations of BorgWarner and will rank equally in right of payment with all of BorgWarner's other existing and future unsecured unsubordinated obligations and will have the same interest payment and maturity dates and interest rate and redemption provisions as the DT Notes. Interest on the BorgWarner Notes will accrue from October 1, 2020, the last interest payment date on which interest was paid on the DT Notes, and, accordingly, no accrued interest will be paid on the Settlement Date in respect of DT Notes accepted for exchange, except as set forth in the Offering Memorandum with respect to cash paid in lieu of BorgWarner Notes not delivered. The Exchange Offer and Consent Solicitation are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offer and Consent Solicitation will be distributed only to holders who confirm that they are within the categories of eligible participants in the Exchange Offer. None of BorgWarner, Delphi Technologies, their respective directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustee for the BorgWarner Notes or the DT Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their DT Notes in the Exchange Offer.