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Chip McClureChairman, CEO and President

January 30, 2009

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2

Forward-Looking Statements

This presentation contains statements relating to future results of the company (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,” “should,” “are likely to be,” “will” and similar expressions. There are risks and uncertainties relating to the planned disposition of ArvinMeritor’s LVS business, including the timing and certainty of completion and the terms of any transaction or transactions. In addition, actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to global economic and market cycles and conditions, including the recent global economic crisis; the demand for commercial, specialty and light vehicles for which the company supplies products; risks inherent in operating abroad (including foreign currency exchange rates and potential disruption of production and supply due to terrorist attacks or acts of aggression); whether our liquidity will be affected by declining vehicle production volumes; availability and sharply rising cost of raw materials, including steel and oil; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; reliance on major OEM customers; labor relations of the company, its suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of the company’s suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; successful integration of acquired or merged businesses; the ability to achieve the expected annual savings and synergies from past and future business combinations and the ability to achieve the expected benefits of restructuring actions; success and timing of potential divestitures; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of the company’s debt; the ability of the company to continue to comply with covenants in its financing agreements; the ability of the company to access capital markets; credit ratings of the company’s debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; the outcome of actual and potential product liability and warranty and recall claims; rising costs of pension and other post-retirement benefits and possible changes in pension and other accounting rules; as well as other risks and uncertainties, including but not limited to those detailed from time to time in filings of the company with the SEC. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.

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3

Agenda

2008 Highlights

2009 Challenges and Opportunities

Product Focus and Technology Innovation

2009 Priorities

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4

2008 Financial Highlights(1)

Measure Full Yr. Q4 Comment

Sales $7,167 $1,720

$0.38

$103

Up 11% for the year (4% at constant exchange rates)

EPS from Cont. Ops. Before Special Items(2)

$1.60 Met original and recent guidance

Free Cash Flow(1) $(9)

Exceeded recent guidance and within $10 million of original guidance

(1) See Appendix – “Non-GAAP Financial Information”(2) GAAP diluted loss per share from continuing operations was $(1.26) for FY 2008 and $(2.29) for Q4

($ in Millions, except EPS)

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5

We Did What We Said We Would Do

2008 Promise Achievement Result

Sales of $6,750 to $6,950 million $7,167 mil.EBITDA(1) of $385 to $405 million $413 mil.EPS(1) of $1.40 to $1.60 $1.60

$75 million cost reduction from Performance Plus $75 mil.

$30 million contribution from Performance Plus growth initiativesImprove manufacturing efficiencyStrengthen remanufacturingCustomer sharing of premium costsConstantly review portfolio of businesses for optimal mix

Positive Free Cash Flow $(9) mil. –

(1) EBITDA and EPS are from continuing operations before special items. See Appendix – “Non-GAAP Financial Information.” GAAP loss from continuing operations was $(81) million or $(1.26) per share.

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6

Planning Assumptions Uncertain

Withdrawing guidance for FY 2009 due to inability to forecast industry production in the second half of the year

North America Other Regions/MetricsU.S. GDP growth (0.4)% Europe GDP growth (0.1)%Class 8 truck production (000)

200 - 220 (flat)

Europe medium & heavy truck production (000)

400 - 450(-25%)

Class 5-7 truck production (000)

115 - 130(-8%) Europe trailer production 160 - 180

(flat)

Trailer production (000) 170 - 190 (flat)

Asia medium & heavy truck production (000) -15%

CV aftermarket industry growth rate ex. pricing Flat S. America M & H truck

production (millions) Flat

Steel price change Slightly lower

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EUR Med. & Heavy Truck Industry(1)

2009 B/(W) than 2008 at Mid-point

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

Oct 15 Nov 15 Dec 15 Jan 12

Source: Published forecasts of industry participants and investment banks

Build Expectations for Europe Continue to Decline

(1) Production levels represent external estimates only and are not intended to represent the Company’s production assumptions. The Company is unable to estimate full-year industry production at this time.

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8

22.7 22.7 22.5 22.0 22.0 21.720.3

17.8

1012141618202224

Apr May Jul Aug Sep Oct Nov Dec.

14.513.5 13.5 13.0

12.6 12.5 11.8

10.1

5

7

9

11

13

15

Apr May Jul Aug Sep Oct Nov Dec.

Expectation for 2009 North America production has fallen 32% since April

All other markets are deteriorating simultaneously

LVS will have a significant cash decrease in the fiscal first quarter

Source: CSM

Difficult Light Vehicle Markets(1)

2009 CY North America Light Vehicle Production Forecast(in millions)

(in millions)

2009 CY Europe Light Vehicle Production Forecast

(1) Production levels are provided for the purposes of this example only and are not intended to represent the Company’s production assumptions. The Company is unable to estimate full-year industry production at this time.

32%

(22)%

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Necessary Cost Reduction Actions

In addition to actions undertaken on 10/31/087% workforce reduction30% reduction in discretionary spendingTravel and expense restrictions (Coach class)

10% reduction in salary for all U.S. salaried executive-level 5% reduction in salary / U.S. salaried and non-production hourlySuspend merit increases for all U.S. employeesTemporary hold on U.S. 401-K matching programReduce company’s contribution to the charitable trust by 50%Significantly reduce discretionary spend

Addressing Market Conditions

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Light Vehicle Systems Update

Due to credit markets and volume weakness in the industry, cannot capture value for LVS by selling as a wholeNew LVS structure:

Body Systems – pursue sale separatelyChassis Systems – continue to explore and evaluate strategic alternatives for timely and orderly exit from this businessWheels – will retain this business

Remain firmly committed to our long-term strategyof focusing on the commercial vehicle on- and off-highway market segments for both OEMs

and aftermarket customers

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Key Growth Area – Military

ServiceOrders

2008 2009 2008 2009 2008 2009

FMTV MRAPFamily

FuturePrograms

Firm OrdersAnticipated Orders

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1212

Central Tire Inflation Systems

Aluminum Brake Calipers

Carbon Fiber Rotors

Magnesium Transfer Cases

Driving Independent Suspensions

Aluminum Control Arms

Adaptive Damping Shocks

Automatic Diff Lock ControlsTitanium

Knuckles

Suspension Height Control

Systems

Electronically Biasing

Differentials

Advanced Technology DevelopmentJLTV Program Innovations

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Xuzhou Joint Venture Facility

Construction - China JV >20% market share in axlesChina stimulus package

Includes infrastructureInvestment planned for off-highway business

Re-entering market segment (The Americas / Europe)

CustomersKalmarTerex

ProductsPlanetary AxlesDisc BrakesWheel Ends

Key Growth Area – Off-Highway

Crane Axle

Port Tractor Axle

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14

0

100

2006 2007 2008 2009

Up to 60% reduction

under example

scenarios

Inde

x (2

006

= 10

0)

North America Class 8 Production

ArvinMeritor N.A. Commercial Vehicle Aftermarket Sales

Key Growth Area – Aftermarket

Up25%Up

25%

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15

Key Growth Area – Aftermarket

EuropeRemanufacturingEmerging Markets

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Leading Drive Axle Technology

17X - Europe

14X – North America

Invest in Innovation and Technology

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17

Class 8 Hybrid Program

Invest in Innovation and Technology

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18

2009 Priorities

1. Accelerate restructuring and other cost reductions

2. Continue operational performance improvement

3. Execute Body and Chassis strategy4. Continue to grow high-margin segments5. Invest in innovation and technology

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19

100 Years of Forward Thinking