© 2009 Dana Limited. This presentation contains copyrighted and confidential information of Dana Holding Corporation and/or its subsidiaries. Those having access to this work may not copy it, use it, or disclose the information contained within it without written authorization of Dana Holding Corporation. Unauthorized use may result in prosecution.

Dana Holding CorporationBarclays Capital Industrial Select Conference

February 10, 2009

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Safe Harbor StatementSafe Harbor Statement

Certain statements and projections contained in this presentation are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management’s beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,”“plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,”“could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Dana’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss important risk factors that could affect our business, results of operations and financial condition. The forward-looking statements in this presentation speak only as of this date. Dana does not undertake any obligation to revise or update publicly any forward-looking statement for any reason.

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AgendaAgenda

Actions, Overview Jim Yostand Key Priorities Chief Financial Officer

Q&A Session

© 2009 Dana Limited. This presentation contains copyrighted and confidential information of Dana Holding Corporation and/or its subsidiaries. Those having access to this work may not copy it, use it, or disclose the information contained within it without written authorization of Dana Holding Corporation. Unauthorized use may result in prosecution.

Actions, Overview and Key Priorities

Jim Yost

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Key Priorities – 2008 Key Priorities – 2008

Rebuild the team

Jump-start operations

Address strategic issues

Financial performance and plans

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Rebuild the Team – Actions Rebuild the Team – Actions

Experienced and involved Board of DirectorsGary Convis: leading operational improvement effort globallyKey additions:

Chief Financial OfficerChief Administrative OfficerSVP of Strategy and Business DevelopmentPresident of Global OperationsPresident of Light Vehicle DrivelineChief Purchasing OfficerPresident of Asia Pacific Operations

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Jump-Start Operations –Actions Jump-Start Operations –Actions

Operational Excellence – quality, cost, productivityCommon metrics, Dana Operating System, revitalized manufacturing teamGlobal implementation – expecting big benefits in 2009-10

Rapid manpower reductions to align with declining industry volumesFootprint – extensive realignment of operations and 4 plant closures in 2008, up to10 closures planned for 2009-10Combined Light Axle and Driveshaft businesses into single global Driveline business

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Strategic Issues – Update Strategic Issues – Update

Identified Thermal, Sealing, and Structures operations for strategic evaluationDecisions expected 1Q 2009Focus on fixing the North American businessesNew growth opportunities in Asia Pacific

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Financial Performance and Plans – Actions Financial Performance and Plans – Actions

Loan covenant relief in a very difficult marketSignificant cost reductions in place – more to come in 2009New approach to business development with focus on margins – significant pricing achieved in 2008, despite market turmoilMaintained strong liquidity and a solid balance sheet, financial flexibility

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2008 Cost Reduction Actions2008 Cost Reduction ActionsRapid reduction of manufacturing capacity to align with lower industry volumes

North American hourly headcount down 33%Global hourly headcount down 22%

Corresponding salaried headcount reductionsNorth American headcount down 25%Global headcount down 16%Management structure down as well

Good start in improving plant and staff costs (Operational Excellence) and manufacturing footprint changes

Major benefits in 2009 and 2010Supply chain actions mixed

Major steel cost increases for most of 2008 – recent Q4 dropLimited success with other supplier costsGood progress on non-product and logistic costs

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Pricing ActionsPricing Actions

Aggressive negotiations to improve margins and fixing “upside-down” business in all marketsSteel commodity recovery process now in place with more than 80% of customer contractsResolved major pricing dispute with ChryslerRevised business development process in place for new businessPricing actions of more than $200 million taken in 2008 (primary impact in 2009)

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Business Overview –Diverse Markets Business Overview –Diverse Markets AutomotivePassenger cars and light trucks, including pick-up trucks, sport utility vehicles (SUVs), vans, and crossover utility vehicles (CUVs).

57% of Sales12 months ended December 31

Commercial VehicleMedium- and heavy-duty trucks, buses, and other commercial vehicles.

22% of Sales

Off-HighwayAgricultural and construction machinery; mining, forestry, material handling and outdoor power equipment; as well as non-vehicular, industrial applications.

21% of Sales

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Dana Revenues by Region –Geographic Diversity Dana Revenues by Region –Geographic Diversity

30%

14%8%

48%

North America

Europe

Asia-Pacific

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South America

2008

15%5%

3%

77%

2000

Asia-Pacific South America

Europe

North America

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Dana Revenues by Product/Business Line Dana Revenues by Product/Business Line

3%9%

11%

27%

14%

21%

SealingThermal

Structures

Light AxleOff-Highway

CommercialVehicle

Driveshaft(50% Commercial

Vehicle)

Non-light vehicle = 42% of sales

15%

AutomotivePassenger cars and light trucks, including pick-up trucks, sport utility vehicles (SUVs), vans, and crossover utility vehicles (CUVs).

Commercial VehicleMedium- and heavy-duty trucks, buses, and other commercial vehicles.

Off-HighwayAgricultural and construction machinery; mining, forestry, material handling and outdoor power equipment; as well as non-vehicular, industrial applications.

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Dana Revenues by CustomerDana Revenues by Customer

3%3% 3%

48%

18%

6%

5%

5%

3%3%

3%

Ford

GM

Toyota

Paccar

Nissan

Navistar

VolvoChrysler Fiat

Daimler

All Other

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2009 Global Vehicle ProductionDana Forecasts (Units in 000s)2009 Global Vehicle ProductionDana Forecasts (Units in 000s)

2008E 2009P 2009FNorth AmericaLight Vehicle 12,650 11,300 10,000Medium Truck 155 150 135Heavy Truck 196 200 161

Europe (including E. Europe)Light Vehicle 21,260 21,290 16,300 Medium/Heavy Truck 749 710 584

South AmericaLight Vehicle 3,800 3,500 3,117Medium/Heavy Truck 173 146 140

Asia PacificLight Vehicle 28,700 30,585 21,100Medium/Heavy Truck 1,350 1,565 1,280

Off-Highway – GlobalAgricultural Equipment -3% -20%Construction Equipment -17% -40%

SOURCE: IHS Global Insight, CSM Worldwide, Dana Estimates, ACT (2/6/09)

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Debt Maturity Profile ($ Millions) Debt Maturity Profile ($ Millions)

$0

$300

$600

$900

$1,200

2009 2010 2011 2012 2013 2014 2015

Other Debt Term Loan

No Significant NearNo Significant Near--term Maturitiesterm MaturitiesNote: Reflects $150 M term loan payment in 2008

902

300

Year 2009 2010 2011 2012 2013 2014 2015

Term Loan 13 13 13 13 13 902 300

Other Debt 4 3 3 2 1 2 0

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Pension Management IssuesPension Management IssuesDana’s U.S. pension liabilities frozen for both salaried/hourly employeesAsset allocation at 12/31/08:

Dana’s U.S. pension portfolio return was -4.4% for 2008Substantial portion of Canadian pension obligations annuitized at favorable terms in 2008

U.S. Equities 7%International Equities 10%Absolute Return 9%Long-duration U.S. Treasuries 57%Cash 17%

100%

© 2009 Dana Limited. This presentation contains copyrighted and confidential information of Dana Holding Corporation and/or its subsidiaries. Those having access to this work may not copy it, use it, or disclose the information contained within it without written authorization of Dana Holding Corporation. Unauthorized use may result in prosecution.

Q&A Session