PHINIA spin-off effective July 3, 2023; 1 share for every 5 BorgWarner shares

PHINIA INC.

Registration statement declared effective by SEC on June 13, 2023.
Distribution date: July 3, 2023 at 5:00 PM Eastern; record date June 23, 2023.
BorgWarner holders to receive 1 PHINIA share per 5 BorgWarner shares held.
PHINIA common stock expected to begin regular-way trading on NYSE under PHIN on July 5, 2023.
Information statement attached as Exhibit 99.1 detailing the spin-off and company business.

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