Automotive Electronics and Semiconductors Bi-Weekly Industry Events & M&A Update — September 14–28, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

CONSUMER DISCRETIONARY › AUTOMOBILES AND COMPONENTS › AUTOMOTIVE ELECTRONICS AND SEMICONDUCTORS

Capability Signals Move Stocks While Buyers Stay on the Sidelines

This update covers the movers, company announcements and transaction record across September 14–28, 2026.

September 14–28, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28

Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice

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1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   CONSUMER DISCRETIONARY › AUTOMOBILES AND COMPONENTS › AUTOMOTIVE ELECTRONICS AND SEMICONDUCTORS

   Cover slide introducing the bi-weekly Automotive Electronics and Semiconductors industry events and M&A update for September 14–28, 2026.

   We open this bi-weekly update on Automotive Electronics and Semiconductors, covering the two weeks of September 14–28, 2026. In the pages that follow, we walk through what changed, who moved and why, what transacted, and what it means for the market.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE CONSUMER DISCRETIONARY › AUTOMOBILES AND COMPONENTS › AUTOMOTIVE ELECTRONICS AND SEMICONDUCTORS Capability Signals Move Stocks While Buyers Stay on the Sidelines This update covers the movers, company announcements and transaction record across September 14–28, 2026. September 14–28, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28 Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Company News Set the Direction; The Deal Record Stayed Quiet

   This slide summarizes the two-week period across 13 covered names, showing that company news set the market direction while the deal record stayed quiet.

   Across the 13 names we track, this was a period defined by company-specific proof points rather than transaction headlines. Innoviz Technologies Ltd. (INVZ) led the group with a +24.3% two-week gain on sensing-capability news, while Holley Inc. (HLLY) fell -11.0% despite announcing further debt prepayment and reaffirming its 3.0x leverage target. The covered set leaned lower overall against a firmer index, and no new sector transactions were announced in the window. So what: capital allocation and capability credentials, not deal flow, are what moved this group over the two weeks.

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   THE BI-WEEKLY BOTTOM LINE Company News Set the Direction; The Deal Record Stayed Quiet The two-week period in one page · 13 covered names, close-to-close · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 2 1 The Covered Set Leaned Lower While the Index Held Up 7 of 13 covered names fell; the median move was -1.1%, against +0.8% for the S&P 500 over the two-week period. 2 Sensing Credentials Produced the Period's Largest Gain Innoviz Technologies Ltd. (INVZ) rose +24.3% across the two-week period, including +16.6% on Sep 23, its biggest single day. 3 Balance-Sheet Progress Did Not Buy a Higher Share Price Holley Inc. (HLLY) fell -11.0% over the two-week period, with -7.1% on Sep 23, the day it announced a further debt prepayment and restated its goal of 3.0x leverage or below. 4 With No New Transactions, the Standing Valuation Lens Is the Reference No material sector transactions were announced during the period. NeuraCap's standing view still carries a CY2027E EV / EBITDA median of 7.0x, with the Premium tier at 10.0x and the Discount tier at 6.1x. +24.3% Best mover — Innoviz Technologies Ltd. (INVZ) worst: VC -13.1% · 6 up / 7 down of 13 covered -1.1% Sector median two-week return vs S&P 500 +0.8%

3. 03
   PUBLIC MARKET MOVERS

   Proof Points on One Side, Leverage and Drift on the Other

   This slide details the public market movers of the period, contrasting names with capability proof points against those facing leverage or drift-related pressure.

   We size each move against the sector median of -1.1% and the S&P 500's +0.8%, using a materiality bar of ±4.8% to separate signal from noise. Innoviz Technologies Ltd. (INVZ) stands out with a +24.3% two-week move, including a +16.6% single-day gain on September 23. Holley Inc. (HLLY), by contrast, dropped -11.0% over the period, with a -7.1% single-day move on the same date tied to debt-reduction news. So what: the dispersion tells us the market is pricing capability and balance-sheet execution very differently within the same sector.

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   PUBLIC MARKET MOVERS Proof Points on One Side, Leverage and Drift on the Other Bi-Weekly moves, close-to-close · September 14–28, 2026 · sector median -1.1% · S&P 500 +0.8% · materiality bar ±4.8% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median -1.1% Innoviz Technologies Ltd. (INVZ) +24.3% Shares moved following the September 17 announcement that Innoviz's LiDAR was recognised as suitable for defense applications, citing its maturity, robustness and scalability. The move appears to reflect that credential. Defense demand is becoming a second route to volume for sensing suppliers waiting on automotive start of production. COMPANY-SPECIFIC Kimball Electronics, Inc. (KE) +14.9% No notable in-window news was identified that clearly explains the move. The Core-tier gain of +14.9% compares with the covered set's median of -1.1%. Investors continue to differentiate sharply inside the Core tier of the comparable set. UNEXPLAINED Visteon Corporation (VC) -13.1% No notable in-window news was identified that clearly explains the move. The -13.1% two-week move compares with the covered set's median of -1.1%. Discount-tier cockpit names leave little cushion when the comparable set drifts lower. UNEXPLAINED Holley Inc. (HLLY) -11.0% Shares moved following the September 23 announcement of a further debt prepayment, which the company framed as continuing its deleveraging and reinforcing its long-term goal of 3.0x leverage or below. Discount-tier aftermarket names are still judged on cash conversion first, capability second. COMPANY-SPECIFIC

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   Companies Spent the Period Proving Capability and Capital Discipline

   This slide lists the period's highest-impact company news and industry catalysts, each linked to its underlying source.

   We track the events that carried real weight in the period — filings and announcements that moved the record, not just headlines. Each item on this page links back to its underlying filing or article, and every "why it matters" line is our read of that recorded evidence. So what: this is the fastest way to see which capability and capital-structure announcements are worth following into the next period.

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   MAJOR NEWS & INDUSTRY CATALYSTS Companies Spent the Period Proving Capability and Capital Discipline The two-week period's highest-impact events · titles link to the underlying filing or article · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 23 · NEWS · PRNewsWire Stoneridge appoints Uwe Brandenburg as global vice president, engineering and innovation Engineering leadership is where design win cadence and launch execution are decided. The appointment lands in the same period as the company's new controller platform. Engineering capacity, not order intake alone, sets how fast nominations become revenue. Sep 23 · NEWS · GlobeNewsWire Holley prepays more debt, holding to its path toward 3.0x leverage or below Continued debt reduction is the lever an aftermarket operator controls when the unit cycle does not cooperate. NeuraCap reads it as management prioritising capital structure ahead of new spending. In the Discount tier, capital allocation discipline is the story buyers test first. Sep 17 · NEWS · PRNewsWire ECARX passes a global vehicle deployment milestone across its OEM and brand base Deployment breadth across many OEMs, brands and markets is the diversification that reduces single-platform dependence. For cockpit software, installed base is the evidence that nominations converted. Breadth of customer base is becoming as much a value driver as any single platform award. Sep 17 · NEWS · PRNewsWire Innoviz's LiDAR recognised as suitable for defense applications Qualification outside the vehicle programme cycle gives a pre-profit sensing company a demand path that does not wait on start of production. Sensing companies can build booked business in adjacent markets while automotive nominations mature. Sep 14 · NEWS · PRNewsWire Stoneridge debuts its EVO ECU platform for commercial vehicles, buses and off-highway A centralised controller platform is a direct bid to own the socket as distributed control units consolidate into domain architectures. It carries ADAS, diagnostics and later software content on the same hardware. Whoever owns the controller owns the content per vehicle that follows it. Sep 16 · NEWS · GlobeNewsWire Methode Electronics' board declares a quarterly dividend Maintaining a cash return signals that a Premium-tier supplier sees its earnings base as steady enough to fund both programmes and shareholders. Dividend continuity remains a marker of the cash-generative end of this comparable set.

5. 05
   M&A & STRATEGIC ACTIVITY

   No New Prints, so the Existing Transaction Record Still Sets the Reference

   This slide confirms that no new M&A transactions were announced in the period, leaving the existing 22-deal precedent record as the valuation reference.

   No new transactions printed in this window, so the trailing record of 22 recorded deals continues to set the reference for how this sector is priced. Our standing view still carries a CY2027E EV/EBITDA median of 7.0x, with a Premium tier at 10.0x and a Discount tier at 6.1x. So what: acquirers and targets should keep using this multiple framework until a new print resets it.

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   M&A & STRATEGIC ACTIVITY No New Prints, so the Existing Transaction Record Still Sets the Reference September 14–28, 2026 · precedent transactions: 22 recorded deals Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. The trailing record still carries 22 precedent transactions, and the period's company news was concentrated in capability proof points and balance-sheet actions rather than ownership change. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 22 Recorded precedent transactions the reference set buyers and sellers price against

6. 06
   WHAT IT MEANS

   What the Period Changes for Operators, Buyers and Advisors

   This slide translates the period's events into implications for owners and operators, acquirers, and advisors.

   For owners and operators, the period rewarded both capability evidence and cash discipline in the market's reaction. For acquirers, the reference set is unchanged — the 22-deal precedent record and the 7.0x CY2027E EV/EBITDA median still apply — even as the capability evidence underneath it keeps shifting. For advisors, the signal is to lead conversations with the socket, the qualification status and the customer base behind a name, not the headline stock move. So what: each audience has a distinct, actionable read on the same two weeks of evidence.

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   WHAT IT MEANS What the Period Changes for Operators, Buyers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-28 EV / EBITDA (CY2027E) median 7.0x 14 companies in the study 3 valuation tiers Standing thesis: Automotive Electronics and Semiconductors: Aftermarket Names in the Majority, Control Hardware Prices Higher FOR OWNERS & OPERATORS Capability Evidence and Cash Discipline Both Got Airtime Companies in the space traded in both directions, and the announcements that carried weight were about content and capital structure. FOR ACQUIRERS The Reference Set Is Unchanged; The Capability Evidence Is Not With no transactions announced in the window, the trailing record of 22 precedent transactions remains the pricing reference, alongside a standing CY2027E EV / EBITDA median of 7.0x. FOR ADVISORS Lead with the Socket and the Backlog, Not the Headline Move The period's theme is proof of capability: who owns the controller socket, whose sensing is qualified, and whose customer base is broad enough to survive one platform.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   This slide explains the sources and methodology behind the update, including how figures are sourced and verified.

   Every figure in this update links to the record it was taken from, and the publishers and filings drawn on for the period are listed for reference. We hold driver attributions and multiples to calibrated, evidence-based language rather than asserted causation. So what: this page is where you or your team can trace any number in the deck back to its source before acting on it.

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   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 14–28, 2026 · market data through 2026-09-28 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Automotive Electronics and Semiconductors Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 1 name below the floor was excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260929T094307Z_436_prod (market data as of 2026-09-28) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: prnewswire.com · globenewswire.com

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