Slides
Page 1
Third Quarter 2026 Earnings Conference Call October 28, 2026
Page 2
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 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. Cautionary Statement 2
Page 3
IDEX 3Q26 Highlights 3 Advantaged markets in HST continue to power our growth Third quarter results exceeded our expectations, led by HST and FMT revenue and profitability Seeing a broadening of industrial strength across rapid- replenishment businesses All three segments expanded margins on volume leverage, productivity, and 8020 Raising our FY26 outlook based on 3Q strength, momentum in advantaged markets and industrial businesses, and solid execution
Page 4
Advantaged market focus driving higher growth 4 Represent over 1/3 of HST and ~20% of IDEX overall Reallocating Resources Space & Defense Water Wafer positioning, instrument thermal management, gas purification, and 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/assessment DIFFERENTIATED 8020 OPERATING MODEL Maximizing Go-to-market Synergies Leveraging Adjacent Technologies Delivering Operational Efficiencies SemiconductorData Center
Page 5
Tuning Capabilities with Speed & Agility Boosts Organic Growth 5 Core Capability Existing Application Tuned to New High-Growth Application (80) MOTT Advanced metal filtration Impurity Removal (Energy) Designed filters to withstand harsh environmental conditions Impurity Removal (Semiconductor) Tuned porosity control ensuring sub- nano meter impurities are removed from fluid streams MUON Electroforming, i.e., growing small parts with precise dimensions & mechanical properties Drug Delivery (Medical Devices) Hundreds of micro-holes break fluid down to atomic levels for drug delivery Optical Circuit Switching (Data Centers) Micro-precision, mechanical components enable fast, accurate and repeatable fiber alignment MUON Micro-machining of ceramics & glass Implantables (Medical Devices) Laser etching creates microchannels inside glass bodies Radio-Frequency Antennas (Space) Tuned capabilities to create precise beam shapers, optimizing performance Unique core capabilities + deep application knowledge enable tunability 8020 informs focus areas + drives efficient reallocation of resources without adding complexity
Page 6
Industrial Growth Broadening; IDEX Weathering Inflationary Pressures 6 FMT: DEMAND BROADENING IDEX: MANAGING INFLATION +4% 3Q26 organic sales growth* Positive price/cost on a dollar basis again in 3Q26 Ahead of the original plan Orders and sales tracking ahead of initial forecasts for relatively flat revenue y/y Strength extending beyond Water Industrial demand is broadening Pressured areas (e.g., Ag, Energy) stabilizing Value supports pricing High criticality of the solutions we provide is valued by our customers Productivity and 8020 support margins Continuous improvement and 8020 enabling margin expansion as teams diligently work to absorb higher costs Broadening demand and disciplined execution support growth and margin expansion *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings.
Page 7
3Q26 Financial Performance ($ in millions excl. EPS) Sales +8% Organic* *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. Adj. EBITDA Margin* +50 bps Adj. EPS* +15% Free Cash Flow* +14% Quarter and YTD financial performance consistent with long-term value creation targets $879 $952 27.3% 27.8% $2.03 $2.33 $189 $214 3Q25 *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 3Q26 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 7 YTD +6% YTD +12%YTD +14%YTD +50 bps
Page 8
3Q26: Health & Science Technologies ($ in millions) Performance Highlights • Advantaged market strength continues • Adj EBITDA margin expansion driven primarily by volume leverage and positive mix • 8020 driving both growth and margin trajectory Orders +21% Organic* Sales +13% Organic* Adj. EBITDA Margin +110 bps y/y $390 $468 $381 $434 27.7% 28.8% 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Organic* FX M&A Y/Y Sales Growth 13% -% 1% 14% Data center, semiconductor and space & defense demand remains robust *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 8
Page 9
3Q26: Fluid & Metering Technologies ($ in millions) Performance Highlights • Order strength is broadening • Organic sales stronger in both advantaged markets and base industrial businesses • Solid incremental margin on productivity gains and volume leverage Orders +11% Organic* Sales +4% Organic* Adj. EBITDA Margin +20 bps y/y $315 $349 $317 $328 33.7% 33.9% 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Diversified set of industrial exposures collectively showing early signs of sustainable organic growth *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. Organic* FX M&A Y/Y Organic* FX M&A Y/Y Sales Growth 4% (1%) -% 3% 9
Page 10
3Q26: Fire & Safety / Diversified Products ($ in millions) Performance Highlights • 3Q organic orders subdued mostly due to timing • Organic sales growth driven by aerospace demand • Adj EBITDA margin increased on volume leverage, productivity gains and mix, partially offset by price/cost Orders +1% Organic* Sales +6% Organic* Adj. EBITDA Margin +140 bps y/y $176 $176 $182 $192 27.1% 28.5% 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Organic* FX M&A Y/Y Sales Growth 6% (1%) —% 5% Diversified industrial end markets net to slight overall growth YTD *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 10
Page 11
• Maintain investment grade credit rating • Gross leverage target < 2.0x Gross Leverage* Capital Deployment (YTD’25 vs. YTD’26) 2.1x 1.8x 3Q25 3Q26 * Gross Leverage defined as Total Debt / TTM Adj. EBITDA • 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 Capital Deployment Maintaining a balanced and returns-oriented approach $455 $455 YTD’25 YTD’26 Capex IDEX Capital Deployment Framework Maintain flexible balance sheet Organic growth investment Opportunistic M&A Return capital to shareholders Dividends Share Repurchases $175 $159 $44 $228 $161 $66 $77 M&A 11
Page 12
2026 Guidance Summary *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (a) – Current guidance based on 9/30/2026 FX Rate; Current earnings per share estimates exclude all future acquisitions *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. 12 Capital Expenditures ~$110M ~$110M FCF Conversion* 100%+ 100%+ Net Interest Expense ~$62M ~$63-65M Tax Rate ~24% ~24% Corporate / Unallocated Costs ~$108-110M ~$108-110M Depreciation ~$80M ~$80M FX Impact on Sales (a) ~0.5% ~0.5% Acquisition / Divestiture Impact on Sales ~0.5% ~0.5% Adjusted EPS* $8.91 - $8.96 $8.70 - $8.85 Other Modeling Items: Organic* Sales Growth y/y 6.5% - 6.8% 5% - 6% Adjusted EBITDA Margin* 27.1% - 27.3% 27.0% - 27.3% FY26 FY26 Current Previous
Page 13
IDEX Value Drivers *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. Advancing IDEX through strong execution and disciplined capital deployment Differentiated 8020 operating model drives full business potential through simplification, focused resourcing and streamlined execution 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 Focused on delivering above-market organic growth and margins, amplified by strategic M&A to drive sustainable value creation 13
Page 14
Non-GAAP Reconciliations *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 14
Page 15
Table 1: Reconciliations of the Change in Net Sales to Change in Organic Sales *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. HST FMT FSDP IDEX Three Months Ended September 30, 2026 Change in net sales 14% 3% 5% 8% Less: Net impact from acquisitions/divestitures(1) 1% —% —% —% Impact from foreign currency(2) —% (1%) (1%) —% Change in organic sales 13% 4% 6% 8% Nine Months Ended September 30, 2026 Change in net sales 15% 3% 2% 8% Less: Net impact from acquisitions/divestitures(1) 2% —% —% 1% Impact from foreign currency(2) 1% 1% 1% 1% Change in organic sales 12% 2% 1% 6% (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. 15
Page 16
Table 2: Reconciliations of Reported-to-Adjusted Gross Profit and Gross Margin *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (1) Restructuring-related charges represent costs incurred related to the anticipated closure of a facility in the HST segment, including accelerated depreciation of $0.7 million and $1.2 million during the three and nine months ended September 30, 2026, respectively. (dollars in millions) 16 Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Gross profit $429.5 $390.6 $1,254.4 $1,151.7 Fair value inventory step-up charges — 0.6 — 0.6 Restructuring-related charges(1) 0.8 — 1.3 — Adjusted gross profit $430.3 $391.2 $1,255.7 $1,152.3 Net sales $951.7 $878.7 $2,759.2 $2,558.4 Gross margin 45.1% 44.5% 45.5% 45.0% Adjusted gross margin 45.2% 44.5% 45.5% 45.0%
Page 17
Table 3: Reconciliations of Reported-to-Adjusted Net Income Attributable to IDEX and Diluted EPS Attributable to IDEX *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (in millions, except per share amounts) 17
Page 18
Footnote to Table 3 *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (1) Restructuring expenses and asset impairments and other restructuring-related charges consist of the following: 18 (a) Restructuring expenses and asset impairments recorded during the nine months ended September 30, 2025 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 costs incurred related to the anticipated closure of a facility in the HST segment, including accelerated depreciation of $0.7 million and $1.2 million during the three and nine months ended September 30, 2026, respectively. (2) Legal settlements and contingencies include legal settlement funds received, net of associated legal costs incurred. Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Restructuring expenses and asset impairments $3.4 $0.1 $13.6 $18.3 Less: Restructuring and asset impairments attributable to noncontrolling interest(a) — — — (0.3) Other restructuring-related charges(b) 0.8 — 1.3 — Restructuring expenses and asset impairments and other restructuring-related charges $4.2 $0.1 $14.9 $18.0
Page 19
Table 4: Reconciliations of Net Income to Adjusted EBITDA *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (1) Accelerated depreciation of $0.7 million and $1.2 million for the three and nine months ended September 30, 2026, respectively, related to the anticipated closure of a facility in the HST segment, was included in Depreciation in Table 4, 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 include legal settlement funds received, net of associated legal costs incurred. (dollars in millions) 19
Page 20
Table 5: Reconciliations of Cash Flows from Operating Activities to Free Cash Flow *This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. (dollars in millions) 20
Page 21
Thank you. 21