Gentex — Oct 25, 2024 release

2024 Annual Guidance Guidance as of July 26, 2024 As of October 25, 2024 Revenue $2.40 - $2.50 billion $2.35 - $2.40 billion Gross Margin 34% - 34.5% 33.5% - 34.0% Operating Expenses $295 -$305 million $295 -$305 million Tax Rate 15% - 16% 15% - 15.5% Capital Expenditures $175 - $200 million $150 - $175 million Depreciation & Amortization $95 - $100 million $90 - $95 million Additionally, based on the Company’s updated forecast for light vehicle production for calendar year 2025 as well as year to date actual results for the first nine months of 2024, the Company is updating calendar year 2025 revenue estimates to approximately $2.45 - $2.55 billion. Exhibit 99.1 "The Company continues to be on pace for record revenue in 2024 and 2025, despite significant changes in the light vehicle production environment, vehicle mix and regional mix that have impacted the production landscape. Obviously, the actual and forecasted light vehicle production deterioration has impacted our total revenue estimates for 2024 and 2025, but our 12% outperformance versus the underlying vehicle production numbers in our primary markets during the third quarter gives us renewed confidence in our ability to continue to outperform the market. While the teams have done a phenomenal job creating and executing our margin recovery plan, industry conditions have created a slower growth environment that we intend to address with increased cost focus, expense control and lower capital expenditures that more closely align with our updated revenue expectations. As we have indicated, the timeline to achieve our targeted gross margin of 35 - 36% will likely push into the 2025 calendar year, but we remain confident in our ability to accomplish our stated goal despite the industry headwinds,” concluded Downing. Safe Harbor for Forward-Looking Statements     This news