Garrett Motion Enters Into Definitive Transaction Agreement and Initiates Voluntary Reorganization in Chapter 11 to Remedy Capital Structure and Support Growth

Garrett Motion Inc. (“Garrett” or the “Company”) (NYSE: GTX) today announced that it has entered into an agreement with KPS Capital Partners, LP (“KPS”) with respect to a potential purchase of its
business and commenced voluntary Chapter 11 cases with the United States Bankruptcy Court for the Southern District of New York in order to implement the purchase.

In connection with its