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Garrett Motion Inc.: Garrett Motion Successfully Completes Chapter 11 Restructuring With New Capital and Strong Balance Sheet Reduces Funded Debt to $1.25 Billion Equivalent Term Loan and $300 Million Revolving Credit Facility Eliminates Asbestos Indemnity and Settles All Litigation with Honeywell Bolsters Resources and Flexibility to Accelerate Technology Development Trading of New Common Stock Expected to Commence on Nasdaq on May 3, 2021 Garrett Motion Inc. ( Garrett ) today announced it has emerged from its pending Chapter 11 cases, successfully completing the restructuring process and implementing the Plan of Reorganization ( Plan ) that was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on April 23, 2021. With the support of a significant majority of its stakeholders, led by funds managed by Centerbridge Partners, L.P. ( Centerbridge ) and funds managed by Oaktree Capital Management, L.P. ( Oaktree ), Garrett will remain a publicly traded

Michael ciminiOlivier rabillerQuinn emanuel urquhart sullivanUs bankruptcy courtGarrett motion incTechnology developmentExchange commissionEquity committeeSullivan cromwellSecurities exchangeCreditors committeeMorgan stanley coNew equityExisting stockholdersFunded debtEquivalent term loan