Slides
Page 1
Second Quarter 2026 Earnings Conference Call July 29, 2026
Page 2
Click Here to Edit TitleCautionary Statement Cautionary Statement Under the Private Securities Litigation Reform Act; Non-GAAP Measures This presentation contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other things, the Company’s third quarter 2026 and full year 2026 outlook including expected organic sales and expected adjusted earnings per share and the assumptions underlying these expectations, capital return strategy, anticipated future acquisition behavior and the anticipated benefits and performance of the Company’s recent or future acquisitions, resource and capital deployment and focus and organic and inorganic growth, the Company’s ability to adapt to macroeconomic challenges, anticipated impacts of tariffs and global trade policies and changes in law, anticipated trends in end markets, including expectations regarding future order volumes and order patterns, anticipated growth initiatives and expansions and execution of those growth initiatives and are indicated by words or phrases such as “anticipates,” “estimates,” “plans,” “guidance,” “expects,” “projects,” “forecasts,” “should,” “could,” “will,” “likely to be,” “management believes,” “the Company believes,” “the Company intends” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this presentation. The risks and uncertainties include, but are not limited to, the following: levels of industrial activity and economic conditions in the U.S. and other countries around the world, including uncertainties in the financial markets; pricing pressures, including inflation and rising interest rates, and other competitive factors and levels of capital spending in certain industries; the impact of severe weather events, natural disasters and public health threats; economic and political consequences resulting from terrorist attacks, wars and global conflicts; the Company’s ability to make acquisitions and to integrate and operate acquired businesses on a profitable basis; cybersecurity incidents; the continued growth of artificial intelligence (“AI”) and any related changes to demand in AI-driven markets served by the Company’s customers; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in countries in which the Company operates; developments with respect to trade policy and existing, new or increased tariffs or other similar measures; changes to applicable laws and regulations, including tax laws; interest rates; capacity utilization and the effect this has on costs; labor markets; supply chain conditions; market conditions and material costs; risks related to environmental, social and corporate governance issues, including those related to climate change and sustainability; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in the Company’s most recent annual report on Form 10-K and the Company’s subsequent quarterly reports filed with the United States Securities and Exchange Commission (“SEC”) and the other risks discussed in the Company’s filings with the SEC. The forward-looking statements included here are only made as of the date of this presentation, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here. This presentation contains non-GAAP financial information. Reconciliations of non-GAAP measures to their GAAP equivalents are included in this presentation and our earnings release which is available on our website. 2
Page 3
Click Here to Edit TitleIDEX 2Q26 Highlights 3 Delivered better than expected results, driven by strength in data center, semiconductor, and space & defense markets Record orders of over $1 billion driven primarily by HST segment Industrial businesses increasingly signaling incremental strength - with greatest visibility in Water, Mining and Aerospace Strong EBITDA margin flow-through in HST segment driven by execution on increased volumes Raising FY26 outlook balancing strong 2Q results and momentum in HST markets Airtech Valves 3
Page 4
Represent over 33% of HST and ~20% of IDEX overall Advantaged market focus driving growth acceleration Space and Defense Water Wafer positioning, instrument thermal management, gas purification, critical sealing Optical and propulsion elements for satellite communications, earth observation, and guidance Power generation thermal management solutions and chip cooling Advanced solutions for water infrastructure condition and performance monitoring DIFFERENTIATED 8020 OPERATING MODEL Reallocating Resources Maximizing Go-to-market Synergies Leveraging Adjacent Technologies Delivering Operational Efficiencies Semiconductor Data Centers 4
Page 5
Click Here to Edit TitleQ2 2026 Financial Performance ($ in millions excl. EPS) Sales +5% Organic* *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. Adj. EBITDA Margin* +70 bps Adj. EPS* +12% Free Cash Flow* +20% Better than expected 2Q26 results across IDEX Expected customer rebates related to IEEPA refunds were a 2% headwind to organic growth Net IEEPA refunds were a 130 bps benefit to adj. EBITDA margin Net IEEPA refunds were an $0.08 benefit to adj. EPS 5 IEEPA refunds received were $21 million
Page 6
Click Here to Edit TitleQ2 2026: Health & Science Technologies ($ in millions) Sales +12% Organic* Adj. EBITDA Margin +270 bps y/y Record orders reflect continued momentum in advantaged markets (e.g., Data Center, Semiconductor, Space & Defense) Orders +47% Organic* Organic* FX M&A Y/Y ∆ Sales Growth 12% —% 2% 14% Performance Highlights • Momentum continues to build in advantaged markets; backlog increasing visibility into 2027 • Adj EBITDA% expanded driven mostly by positive volume leverage • 8020 application towards highest-yielding areas underway *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. IEEPA tariff impact: b • Expected customer rebates related to IEEPA refunds were a 2% headwind to organic growth • Net IEEPA refunds were a 90 bps benefit to adj. EBITDA marginbates were a (2%) headwind to organic grow • IEEPA refunds were a to adj. EBITDA margin 6
Page 7
Click Here to Edit TitleQ2 2026: Fluid & Metering Technologies ($ in millions) Sales +1% Organic* Adj. EBITDA Margin (20) bps y/y Diversified set of industrial exposures collectively showing early signs of sustainable organic growth Orders +11% Organic* Organic* FX M&A Y/Y ∆ Sales Growth 1% 1% —% 2% Performance Highlights • Order strength concentrated in longer lead-time areas • Organic sales strength in muni water, mining and semicon offset by energy, ag and chemical market softness • Tough y/y comparison inAdj EBITDA% *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 7 IEEPA tariff impact: b • Expected customer rebates related to IEEPA refunds were a 2% headwind to organic growth • Net IEEPA refunds were a 180 bps benefit to adj. EBITDA marginates were a (2%) headwind to organic grow • IEEPA refunds were a 90 bps benefit to adj. EBITDA margin
Page 8
Click Here to Edit TitleQ2 2026: Fire & Safety / Diversified Products ($ in millions) Sales (1%) Organic* Adj. EBITDA Margin (50) bps y/y Diversified industrial end markets netting to slight overall growth YTD Orders +19% Organic* Organic* FX M&A Y/Y ∆ Sales Growth (1%) —% —% (1%) Performance Highlights • Organic order strength largely due to BAND-IT blanket orders and NA Fire OEM demand • Growth in BAND-IT more than offset by difficult comps in F&S and Dispensing • Adj EBITDA% declined as productivity gains and the net benefit of tariff refunds were more than offset by mix and volume deleverage *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and our SEC filings. 8 IEEPA tariff impact: b • Expected customer rebates related to IEEPA refunds were a 1% headwind to organic growth • Net IEEPA refunds were a 120 bps benefit to adj. EBITDA margin ates were a (2%) headwind to organic grow • IEEPA refunds were a 90 bps benefit to adj. EBITDA margin
Page 9
Click Here to Edit TitleCapital Deployment Maintaining a balanced and returns-oriented approach Gross Leverage* 9 Capital Deployment (’25 vs. ’26) IDEX Capital Deployment Framework Maintain flexible balance sheet Organic growth investment Opportunistic M&A Return capital to shareholders • Maintain investment grade credit rating • Gross leverage target < 2.0x • 80s focus areas • Highest ROI opportunities • Integrating newly acquired businesses • Near-term focus on tuck-ins • Dividends and share repurchases • Flex depending on leverage and M&A actionability ($ in millions) *Gross Leverage defined as Total Debt / TTM Adj. EBITDA 1.9x 2.1x $301 $235
Page 10
Click Here to Edit Title (a) – Current guidance based on 6/30/2026 FX Rate; Current earnings per share estimates exclude all future acquisitions 2026 Guidance Summary 10 *Guidance provided on an adjusted basis. Reconciliations of forward-looking non-GAAP measures to the most directly comparable GAAP financial measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts necessary for such reconciliations. FY26 FY26 3Q26 Current Previous Organic* Sales Growth y/y 5% - 7% 5% - 6% 3% - 4% Adjusted EBITDA Margin* 27.0% - 27.5% 27.0% - 27.3% 26.5% - 27.0% Adjusted EPS* $2.20 - $2.25 $8.70 - $8.85 $8.35 - $8.55 Other Modeling Items: FX Impact on Sales (a) ~(1)% ~0.5% ~0.5% Acquisition / Divestiture Impact on Sales ~0.5% ~0.5% ~0.5% Corporate / Unallocated Costs ~$26M ~$108-110M $103-107M Depreciation ~$20M ~$80M ~$84M Net Interest Expense ~$16M $63-65M $65-67M Tax Rate ~25% ~24% ~24% Capital Expenditures ~$110M ~$90M FCF Conversion* 100%+ 100%+
Page 11
Click Here to Edit Title Advancing IDEX through strong execution and disciplined capital deployment Focused on delivering above-market organic growth and margins, amplified by strategic M&A to drive sustainable value creation 11 IDEX Value Drivers Focused on continuously evolving our portfolio toward high-growth, advantaged markets with secular tailwinds Balanced allocator of capital with strong deployable cash flow that supports M&A, dividends and share repurchases Differentiated 8020 operating model drives full business potential through simplification, focused resourcing and streamlined execution
Page 12
Click Here to Edit Title Appendix
Page 13
Click Here to Edit Title Appendix - IEEPA Tariff Impacts Consolidated IDEX (Dollars in millions, except per share amounts) Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 IEEPA Tariff Impacts: Net sales ($14.7) ($14.7) Organic sales* (2%) (1%) Cost of sales ($22.0) ($22.0) Gross profit $7.3 $7.3 Gross margin 150 bps 70 bps Adjusted gross margin* 150 bps 80 bps Adjusted EBITDA* $7.3 $7.3 Adjusted EBITDA margin* 130 bps 60 bps Adjusted diluted EPS attributable to IDEX* $0.08 $0.08 HST FMT FSDP (Dollars in millions) Three Months Ended June 30, 2026 IEEPA Tariff Impacts: Net sales ($9.3) ($3.2) $(2.2) Organic sales* (2%) (2%) (1%) Cost of sales ($10.5) ($7.7) ($3.8) Adjusted EBITDA $1.2 $4.5 $1.6 Adjusted EBITDA margin 90 bps 180 bps 120 bps Six Months Ended June 30, 2026 IEEPA Tariff Impacts: Net sales ($9.3) ($3.2) ($2.2) Organic sales* (2%) —% (1%) Cost of sales ($10.5) ($7.7) ($3.8) Adjusted EBITDA $1.2 $4.5 $1.6 Adjusted EBITDA margin 50 bps 90 bps 60 bps Below is a summary of the impacts of the IEEPA tariff refunds and the related expected customer rebates discussed within this presentation: *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and our SEC filings.
Page 14
Click Here to Edit Title Non-GAAP Reconciliations
Page 15
Click Here to Edit Title Table 1: Reconciliations of the Change in Net Sales to Change in Organic Sales HST FMT FSDP IDEX Three Months Ended June 30, 2026 Change in net sales 14% 2% (1%) 6% Less: Net impact from acquisitions/divestitures(1) 2% —% —% 1% Impact from foreign currency(2) —% 1% —% —% Change in organic sales 12% 1% (1%) 5% Six Months Ended June 30, 2026 Change in net sales 15% 3% 1% 8% Less: Net impact from acquisitions/divestitures(1) 2% —% —% 1% Impact from foreign currency(2) 2% 1% 2% 2% Change in organic sales 11% 2% (1%) 5% (1) Represents the sales from acquired or divested businesses during the first 12 months of ownership or prior to divestiture. (2) The portion of sales attributable to foreign currency translation is calculated as the difference between (a) the period-to-period change in organic sales, and (b) the period-to-period change in organic sales after applying prior period foreign exchange rates to the current year period.
Page 16
Click Here to Edit Title Table 2: Reconciliations of Reported-to-Adjusted Gross Profit and Gross Margin (dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Gross profit $426.8 $392.2 $824.9 $761.1 Restructuring-related charges(1) $0.5 $— $0.5 $— Adjusted gross profit $427.3 $392.2 $825.4 $761.1 Net sales $920.6 $865.4 $1,807.5 $1,679.7 Gross margin 46.3% 45.3% 45.6% 45.3% Adjusted gross margin 46.4% 45.3% 45.7% 45.3% (1) Restructuring-related charges represent accelerated depreciation related to the anticipated closure of a facility in the HST segment.
Page 17
Click Here to Edit Title Table 3: Reconciliations of Reported-to-Adjusted Net Income Attributable to IDEX and Diluted EPS Attributable to IDEX (in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Reported net income attributable to IDEX $143.4 $131.6 $263.4 $227.1 Restructuring expenses and asset impairments and other restructuring-related charges(1) 3.3 0.4 10.7 17.9 Tax impact on restructuring expenses and asset impairments and other restructuring-related charges (0.8) (0.2) (2.5) (4.3) Legal settlements and contingencies(2) 0.9 — (2.8) — Tax impact on legal settlements and contingencies 0.3 — 1.1 — Acquisition-related intangible asset amortization 33.2 32.0 67.0 63.5 Tax impact on acquisition-related intangible asset amortization (7.9) (7.3) (15.9) (14.7) Adjusted net income attributable to IDEX $172.4 $156.5 $321.0 $289.5 Reported diluted EPS attributable to IDEX $1.93 $1.74 $3.54 $3.00 Restructuring expenses and asset impairments and other restructuring-related charges(1) 0.05 0.01 0.15 0.24 Tax impact on restructuring expenses and asset impairments and other restructuring-related charges (0.01) — (0.03) (0.06) Legal settlements and contingencies(2) 0.01 — (0.04) — Tax impact on legal settlements and contingencies — — 0.01 — Acquisition-related intangible asset amortization 0.45 0.42 0.90 0.83 Tax impact on acquisition-related intangible asset amortization (0.11) (0.10) (0.21) (0.19) Adjusted diluted EPS attributable to IDEX $2.32 $2.07 $4.32 $3.82 Diluted weighted average shares outstanding 74.2 75.5 74.3 75.7 See footnotes on subsequent slide.
Page 18
Click Here to Edit Title (1) Restructuring expenses and asset impairments and other restructuring-related charges consist of the following: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Restructuring expenses and asset impairments $2.8 $0.7 $10.2 $18.2 Less: restructuring and asset impairments attributable to noncontrolling interest(a) — (0.3) — (0.3) Other restructuring-related charges(b) 0.5 — 0.5 — Restructuring expenses and asset impairments and other restructuring-related charges $3.3 $0.4 $10.7 $17.9 (a) Restructuring expenses and asset impairments recorded during the three and six months ended June 30, 2025, respectively, included charges of $0.6 million recognized by the Company’s joint venture, $0.3 million of which was attributable to noncontrolling interest. (b) Other restructuring-related charges represent accelerated depreciation related to the anticipated closure of a facility in the HST segment. (2) Legal settlements and contingencies represent settlement funds received in excess of legal costs incurred related to a patent infringement lawsuit within the FMT segment and a class action lawsuit at Corporate, net of estimated settlement costs related to certain legal matters within the HST segment. Footnote to Table 3
Page 19
Click Here to Edit Title Table 4: Reconciliations of Net Income to Adjusted EBITDA (dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Reported net income $143.4 $131.1 $263.3 $226.5 Provision for income taxes 42.7 38.8 79.8 67.9 Interest expense - net 15.1 15.6 31.1 31.7 Depreciation(1) 20.2 19.0 40.1 37.4 Amortization 33.2 32.0 67.0 63.5 Restructuring expenses and asset impairments 2.8 0.7 10.2 18.2 Legal settlements and contingencies(2) 0.9 — (2.8) — Adjusted EBITDA $258.3 $237.2 $488.7 $445.2 Adjusted EBITDA Components: HST 119.3 95.0 225.3 182.4 FMT 110.3 108.7 209.0 204.0 FSDP 54.9 56.4 110.7 110.6 Corporate and other (26.2) (22.9) (56.3) (51.8) Total Adjusted EBITDA $258.3 $237.2 488.7 $445.2 Net sales 920.6 865.4 1,807.5 1,679.7 Net income margin 15.6% 15.1% 14.6% 13.5% Adjusted EBITDA margin 28.1% 27.4% 27.0% 26.5% (1) Depreciation includes accelerated depreciation related to the anticipated closure of a facility in the HST segment, which was included in Restructuring-related charges in Table 2 and in Restructuring expenses and asset impairments and other restructuring-related charges in Table 3. (2) Legal settlements and contingencies represent settlement funds received in excess of legal costs incurred related to a patent infringement lawsuit within the FMT segment and a class action lawsuit at Corporate, net of estimated settlement costs related to certain legal matters within the HST segment
Page 20
Click Here to Edit Title Table 5: Reconciliations of Cash Flows from Operating Activities to Free Cash Flow (dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cash flows from operating activities $200.0 $161.7 $303.7 $267.4 Less: Capital expenditures 23.0 14.8 40.7 29.1 Free cash flow $177.0 $146.9 $263.0 $238.3 Reported net income attributable to IDEX $143.4 $131.6 $263.4 $227.1 Adjusted net income attributable to IDEX 172.4 156.5 321.0 289.5 Operating cash flow conversion 140% 123% 115% 118% Free cash flow conversion 103% 94% 82% 82%