Slides
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1 September 24, 2026 D.A. Davidson 25th Annual Diversified Industrials & Services Conference
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2 Safe Harbor and Non-GAAP Disclosures Safe Harbor This presentation contains “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In addition, the accompanying conference call presentation may include, and officers and representatives of ITT may from time to time make and discuss, projections, goals, assumptions, and statements that constitute “forward-looking statements”. These forward-looking statements are not historical facts, but rather represent a belief regarding future events based on current expectations, estimates, assumptions and projections about our business, future financial results, the industry in which we operate, and other legal, regulatory and economic developments. These forward-looking statements include, but are not limited to, future strategic plans, statements regarding the impact of the acquisition of SPX FLOW, Inc. on ITT, including expected cost synergies and margin or earnings accretion, and other statements that describe the company’s business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future events and future operating or financial performance. We use words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “guidance,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would,” and other similar expressions to identify such forward-looking statements. Forward-looking statements are uncertain, and, by their nature, many are inherently unpredictable and outside of ITT’s control, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements. Where in any forward-looking statement we express an expectation or belief as to future results or events, such expectation or belief is based on current plans and expectations of our management, expressed in good faith and believed to have a reasonable basis. However, we cannot provide any assurance that the expectation or belief will occur or that anticipated results will be achieved or accomplished. More information on factors that could cause actual results or events to differ materially from those anticipated is included in the Risk Factors section of the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the Securities and Exchange Commission. The forward-looking statements included in this presentation speak only as of the date hereof. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statements, whether written or oral, as a result of new information, future events or otherwise. Non-GAAP Disclosures This presentation and the discussion on the accompanying conference call contain certain financial measures that are not prepared under U.S. generally accepted accounting principles (GAAP). These non-GAAP financial measures supplement our GAAP disclosures and are not meant to be considered in isolation or as a substitute for the most directly comparable measures that are prepared in accordance with GAAP. These measures may not be comparable to similarly titled measures disclosed by other companies. For a reconciliation of these non-GAAP financial measures to the most directly comparable measures disclosed under GAAP, refer to the supplemental data to this presentation or investors.itt.com.
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3 54% Flow Technologies 27% Motion Technologies 19% Connect & Control Technologies $5.3B Revenue ITT is a Leading Manufacturer of Critical Components for Harsh Environment Applications Businesses End Markets 16% Nutrition & Health 22% Automotive 35% General Industrial 14% Aero & Defense 32% Aftermarket 13% Energy Geography 35% EMEA 45% Americas 20% Asia Pacific 35+ countries of operation 3-year Performance Organic Revenue CAGR7% Adjusted EPS CAGR16% FCF Margin FY 202514% All results unaudited. Businesses, end markets and geography charts represent pro forma revenue and composition of pro forma revenue for 2025 including the SPX FLOW acquisition. 1. TSR for the period 12/31/2022 to 12/31/2025. Assumes dividends reinvested. 3
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4 M&A Organic growth and margin expansion 01 Compounding with M&A 02 Future Value Creation 2030 Portfolio 4
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5 2025 Operating Margin by Manufacturing Site underperforming sites to ITT operating margin ~500 bps with higher performing sites continuous improvement >150 bps Opportunityand Further Opportunities Remain Long-Term Margin Expansion Unprecedented Granularity Entrepreneurial Culture Lean, Automation, Technology and Machine Learning Operating Margin 19.4% 5
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6 M&A Performance Svanehøj 1 kSARIA 1 SPX FLOW closed March 2nd, 2026 13x 6x All results unaudited. For non-GAAP reconciliations, refer to appendix 1. Full-year 2026E compared to full-year 2024 including pre-acquisition Svanehøj and kSARIA results 2. Backlog growth since acquisition 3. Compared to 2025 pre-acquisition SPX FLOW results • +16% annual orders average growth • +32% annual revenue average growth • 3-year book-to-bill of 1.2x • +40% backlog growth2 • Energy transition market share gains Multiple 2024 acquisition Multiple 2026E 13x 11x • HSD orders growth YTD3 • HSD revenue growth YTD3 • 2026 YTD book-to-bill >1.0x • Integration ahead of plan • Cost synergies ahead of plan • +60% annual orders average growth • +12% annual revenue average growth • 2-year book-to-bill of 1.5x • +180% backlog growth2 • Prime defense platform growth 6 Multiple 2024 acquisition Multiple 2026E
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77 ITT Strong execution and clever innovation keep on differentiating ITT from competition Exceptional ITTers will keep on executing and deliver value in the short term and for the long term Sound strategy and common sense will keep on delivering long term value
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9 Key Performance Indicators & Non-GAAP Measures Management reviews a variety of key performance indicators including revenue, operating income and margin, earnings per share, order growth, and backlog. In addition, we consider certain measures to be useful to management and investors when evaluating our operating performance for the periods presented. These measures provide a tool for evaluating our ongoing operations and management of assets from period to period. This information can assist investors in assessing our financial performance and measuring our ability to generate capital for deployment among competing strategic alternatives and initiatives, including, but not limited to, acquisitions, dividends, and share repurchases. Some of these metrics, however, are not measures of financial performance under accounting principles generally accepted in the United States of America (GAAP) and should not be considered a substitute for measures determined in accordance with GAAP. We consider the following non-GAAP measures, which may not be comparable to similarly titled measures reported by other companies, to be key performance indicators for purposes of our reconciliation tables. Organic Revenue and Organic Orders are defined, respectively, as revenue and orders, excluding the impacts of foreign currency fluctuations, acquisitions, and divestitures that may or may not qualify as discontinued operations. Current year activity from acquisitions is excluded for twelve months following the closing date of acquisition. The period-over-period change resulting from foreign currency fluctuations is estimated using a fixed exchange rate for both the current and prior periods. Prior year revenue and orders are adjusted to exclude activity during the comparable period for twelve months post-closing date for divestitures that do not qualify as discontinued operations. We believe that reporting organic revenue and organic orders provides useful information to investors by helping identify underlying trends in our business and facilitating comparisons of our revenue performance with prior and future periods and to our peers. Adjusted Operating Income is defined as operating income adjusted to exclude special items that include, but are not limited to, restructuring, certain asset impairment charges, certain acquisition- and divestiture-related impacts, and unusual or infrequent operating items. Special items represent charges or credits that impact current results, which management views as unrelated to the Company's ongoing operations and performance. Adjusted Operating Margin is defined as adjusted operating income divided by revenue. We believe these financial measures are useful to investors and other users of our financial statements in evaluating ongoing operating profitability, as well as in evaluating operating performance in relation to our competitors. Adjusted Income from Continuing Operations is defined as income from continuing operations attributable to ITT Inc. adjusted to exclude special items that include, but are not limited to, restructuring, certain asset impairment charges, certain acquisition- and divestiture-related impacts, income tax settlements or adjustments, and unusual or infrequent items. Special items represent charges or credits, on an after-tax basis, that impact current results, which management views as unrelated to the Company’s ongoing operations and performance. The after-tax basis of each special item is determined using the jurisdictional tax rate of where the expense or benefit occurred and the tax deductibility under local tax rules. Adjusted Income from Continuing Operations per Diluted Share (Adjusted EPS) is defined as adjusted income from continuing operations divided by diluted weighted average common shares outstanding. We believe that adjusted income from continuing operations and adjusted EPS are useful to investors and other users of our financial statements in evaluating ongoing operating profitability, as well as in evaluating operating performance in relation to our competitors. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures net of capital-related government incentives. Free Cash Flow Margin is defined as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin provide useful information to investors as it provides insight into a primary cash flow metric used by management to monitor and evaluate cash flows generated by our operations.
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10 Reconciliation of Revenue to Organic Revenue MT IP CCT Elim Total ITT 2025 Revenue 1,428.2$ 1,496.2$ 1,017.0$ (2.9)$ 3,938.5$ Less: Acquisitions - 244.1 233.6 - 477.7 Less: Foreign currency translation 58.5 5.2 5.1 - 68.8 2025 Organic revenue 1,369.7$ 1,246.9$ 778.3$ (2.9)$ 3,392.0$ 2022 Revenue 1,374.0$ 971.0$ 645.6$ (2.9)$ 2,987.7$ Less: Divestitures 171.1 - 9.3 (0.1) 180.3 2022 Organic revenue 1,202.9$ 971.0$ 636.3$ (2.8)$ 2,807.4$ 3-Year CAGR Organic Revenue Growth - % 4.4% 8.7% 6.9% 6.5% 3-Year CAGR Reported Revenue Growth - % 1.3% 15.5% 16.4% 9.6% Note: Immaterial differences due to rounding. ITT Inc. Non-GAAP Reconciliation Statements (In millions; all amounts unaudited) Reconciliation of Revenue to Organic Revenue
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11 Reconciliations of Operating Income/Margin to Adjusted Operating Income/Margin Reconciliations of Operating Income/Margin to Adjusted Operating Income/Margin ITT Inc. Non-GAAP Reconciliation Statements (In millions; all amounts unaudited) FT MT CCT Corporate ITT Reported Operating Income 315.1$ 275.9$ 178.2$ (84.7)$ 684.5$ Intangible amortization [a] 18.9 1.0 27.5 (0.1) 47.3 Restructuring costs 8.2 9.4 3.7 - 21.3 Acquisition-related costs 0.8 - 0.9 9.5 11.2 Other special items 0.9 (0.1) (1.0) 0.3 0.1 Adjusted Operating Income 343.9$ 286.2$ 209.3$ (75.0)$ 764.4$ Reported Operating Margin 21.1% 19.3% 17.5% 17.4% Impact of special item adjustments 190 bps 70 bps 310 bps 200 bps Adjusted Operating Margin 23.0% 20.0% 20.6% 19.4% Note: Immaterial differences due to rounding. [a] Reconciliations of Operating Income/Margin to Adjusted Operating Income/Margin Full Year December 2025 Starting in the first quarter of 2026, we have updated our definition of adjusted operating income and margin to exclude intangible amortization expense. Accordingly, we have updated the previously reported prior year adjusted result to reflect the new definition.
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12 Reconciliation of Reported vs. Adjusted Income from Continuing Operations and Diluted EPS ITT Inc. Non-GAAP Reconciliation Statements (In millions, except earnings per share; all amounts unaudited) Reconciliation of Reported vs. Adjusted Income from Continuing Operations and Diluted EPS FY 2025 FY 2022[a] 3-Year CAGR % FY 2025 FY 2022[a] 3-Year CAGR % Reported 488.1$ 370.3$ 9.6% 6.11$ 4.42$ 11.4% Special Items Expense / (Income): Intangible amortization [b] 47.3 20.8 0.59 0.25 Restructuring costs 21.3 3.8 0.27 0.05 Acquisition-related costs [c] 13.3 3.7 0.17 0.04 Other pre-tax special items 2.1 (2.1) 0.02 (0.02) Net tax benefit of pre-tax special items (18.1) (4.3) (0.22) (0.05) Other tax-related special items [d][e] 20.1 (2.3) 0.25 (0.03) Adjusted 574.1$ 389.9$ 13.8% 7.19$ 4.66$ 15.6% Note: Amounts may not calculate due to rounding. Per share amounts are based on diluted weighted average common shares outstanding. [a] [b] [c] [d] [e] Income from Continuing Operations Diluted Earnings per Share The full year 2022 includes a change in accounting principle adjustment increasing the previously reported and adjusted income from continuing operations by $2.0 and adjusted diluted EPS by $0.02. Refer to the ITT Annual Report on Form 10-K for additional information pertaining to the change in accounting principle. The full year 2025 includes tax expense on distributions of non-U.S. income of $12.6, tax expense on undistributed foreign earnings of $4.9, tax expense from tax rate change impacts of $1.8, and other tax expense special items of $0.8. The full year 2022 tax-related special items include a benefit related to a change in deferred tax asset valuation allowance of $(1.2), a benefit related to a change in uncertain tax positions of $(0.7), a tax benefit on future distribution of foreign earnings of $(0.3), and other of $(0.1). Acquisition-related costs for 2025 primarily relate to fees incurred to effectuate the agreement to acquire SPX FLOW, including $2.1 of interest-related costs. Starting in the first quarter of 2026, we have updated our definition of adjusted operating income and margin to exclude intangible amortization expense. Accordingly, we have updated the previously reported prior year adjusted result to reflect the new definition.
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13 Reconciliation of Cash from Operating Activities to Free Cash Flow FY 2025 Net Cash - Operating Activities 668.8$ Capital expenditures 121.3 Proceeds from government incentives (7.9) Free Cash Flow 555.4$ Revenue 3,938.5$ Operating Cash Flow Margin 17.0% Free Cash Flow Margin 14.1% ITT Inc. Non-GAAP Reconciliation Statements (In millions, except earnings per share; all amounts unaudited) Reconciliation of Cash from Operating Activities to Free Cash Flow