Allison Transmission Announces a 9% Increase to the Quarterly Dividend and the Annual Stockholders Meeting and Record Date

Allison Transmission Holdings Inc. (NYSE: ALSN), a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, announced today that its Board of Directors has approved an increase in the Company’s quarterly dividend from $0.23 to $0.25 per share on the Company’s common stock and has declared a cash dividend of $0.25 per share on the Company’s common stock for the first quarter of 2024. Payment will be made on March 15, to stockholders of record at the close of business on March 4.

“For the fifth consecutive year, Allison’s Board of Directors has approved an increase to the quarterly dividend, demonstrating once again our unwavering commitment to prudent balance sheet management and capital allocation,” said Fred Bohley, Senior Vice President, Chief Financial Officer and Treasurer at Allison. “The consistent return of capital to shareholders, while simultaneously investing across the organization, is supported by Allison’s strong financial performance, as well as our disciplined and well-defined approach to the capital structure.”

The payment of any future dividends will be at the discretion of the Board of Directors and will be dependent upon Allison Transmission’s financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board of Directors.

The Company also announced today that its 2024 annual meeting of stockholders will be held on May 8. The record date for the meeting will be March 11.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.