Good morning. I'm Kathleen Powers, Vice President, Treasurer, Investor Relations at Modine. It is my pleasure to welcome you this morning to our Investor and Analyst Day, and I wanna thank everybody for taking the time to join us. It's an exciting time for Modine, and today is about outlining our strategy for transforming our company. Before we get started, I'd like to share a notice regarding forward-looking statements, which is located on slide two of our presentation. Our presentation today will include forward-looking statements that involve known and unknown risks and uncertainties- -and other factors. These may cause actual results to be materially different from any future results, performance targets, or achievements expressed or implied by these statements. For a description of these factors, please refer to the company's Form 10-K filed with the Securities and Exchange Commission. Additionally, this presentation contains non-GAAP financial measures. Reconciliation of GAAP to non-GAAP financial measures can be found in the appendix to the slide presentation posted on our website and filed with the Securities and Exchange Commission on Form 8-K this morning. On slide three is our agenda for the day. I'll be turning it over to Neil Brinker, our President and CEO, who will cover our strategy for unlocking sustainable value in Modine. Then Adrian Peace and Eric McGinnis will cover their respective segments, Performance Technologies and Climate Solutions. Mick Lucarelli, our CFO, will cover the financials, including presenting some longer term financial targets. Then Neil will wrap things up before moving on to your questions. We have a lot to cover, so I'm gonna turn things over to Neil. Thank you, Cathy, and thank you everyone for making the time to join us today. We certainly appreciate it. We know that everybody has competing priorities, and we value your time. We value the time of the folks that arrived today in person, as well as all the individuals that we have on the webcast today. You know, it was just a couple months back that we were vacillating back and forth on whether or not to do this in person or if we were gonna do this virtually, and it's just fantastic to be here today. Hopefully we're starting to see improvements not only in the economy, but in terms of how we communicate, and this is, in my opinion, one of the best ways to do it, in person, face-to-face. You know, Modine hasn't held an Investor Day in quite some time, if not ever before. Today, we're here to share our story. It's the story of our transformation, and we're unlocking value across the company, and while we unlock this potential, we're shaping the company for a sustainable future. Sustainable in many ways. Sustainable for our employees through their development and career advancements. Sustainable for our key accounts and our customers by creating long-term value. Sustainability for our shareholders and through our product development and the solutions that we have in the marketplace. Today we'll discuss in detail how we're unlocking the value in markets and products with our customers we've been serving for years, and I think that's key, right? This isn't a new strategy around new markets and new customers t his is in an area where we perform, we know it well, and we've been serving these markets for decades. We know the spaces, we know the technologies. We have the potential inside the business today. It's there. It needs to be unlocked. We're shifting our resources. We're focusing on our end markets with favorable trends that are driving for systems and value differentiation. This isn't a case of new markets or new customers i t's pivoting towards our best opportunities to unlock value. Let's start here, our purpose. Why we're here, what drives us, what motivates us, what brings us into the offices every day, what brings us into the factories every day. This is important, and it's foundational i t has to start here, our purpose. Engineering a cleaner, healthier world. We spent some time with this. You know, when I joined the company almost 18 months ago, I remember bringing together the existing leadership team as well as the new leadership team and going to an off-site, Kohler, Wisconsin. W e had the group facilitated by a colleague or former colleague of mine that works at the Aspen Institute, and we put our minds together to think about how we transform the company, how we shape the company, and it has to be driven by the why, which is our purpose. We think about this every day, and it drives our mission, and it drives our values. Our values on the right-hand side of the slide, integrity, people-centric, technology-driven, very important, results-oriented, it's a shift, team-focused, especially when you take an entrepreneurial model. Team focus is key. With our mission that's driven around our purpose, we're doing a lot of things through our systems and our components. Improving air quality with our niche applications in schools. Reducing water and energy consumption. It's a demand from some of our largest customers that we do this. We advance technology to help them meet their sustainability goals. We're lowering harmful emissions through the components and products that we have in our Performance Technologies business. We made a deliberate move to carve out our electric vehicle platform. We're enabling cleaner running vehicles because of this, because of the focus. We started that out as an incubator, you know, 12 months ago, and it's a clear growth vertical for us today. In our coils business and our coolers business, we're advancing technologies to use environmentally friendly refrigerants. The reason why we can do this is because we've been building on more than 100 years of excellence in thermal management. We provide these trusted solutions. We have probably 90 minutes of content today, and we're not going to wait till the end to give you the summary slide, right? This is it, the financials. That we all understand the why, and the why is clear, let's focus on the what t his is the what. We expect to move Modine through a transformation of unlocking the value. If we move left to right, fiscal year 2022, we spent a tremendous amount of time focusing the organization. We onboarded new leadership. We segmented the business and transformed the organizational structure. Most importantly, we adopted 80/20 as a key strategic tool. Our revenue was $2.1 billion and an EBITDA margin of 7.7%. Now, where we're going and our goals are aspirational in the green in 2025 through 2027, and then what we expect to deliver in fiscal year 2023 to 2024. Revenue of 6% to 8% and EBITDA margin of 10% to 12%. In the out years in our strategic planning horizon, EBITDA margins of 13% to 15%. This is the transformation. In the red, where we're pivoting to today as we move out of this focus portion of the business where we've spent some time over the last 18 months, this puts us at an EBITDA margin that we haven't been at Modine in over 15 years. As we aspire to move into the green at 13% to 15%, that puts us in an EBITDA margin that Modine hasn't been at in probably 25 years. They say doing the right thing isn't always easy, but that's how we make a difference. Because doing the right thing, it's as fundamental as the air we breathe. To us, heating and cooling is more than creating a comfortable environment. It's creating a better environment, one that's cleaner, greener, and healthier for the ones dreaming of tomorrow. That's why at Modine, we've spent more than 100 years evolving and innovating to live our purpose of engineering a cleaner, healthier world. From the humble beginnings of Arthur B. Modine to expanding markets and building teams across the globe, the way we do things, the right way, has always been our guiding principle. All around us, every day, Modine products are quietly, powerfully improving our lives, seamlessly delivering protection, comfort, and commerce, all while conserving our precious natural resources, providing fresh, clean air to keep growing minds exploring and empowering helpful hands to save lives. Our indoor air quality systems provide the precise temperature control and pristine air quality needed to keep air clean and inspire innovation. When it comes to heating, efficiently helping green things grow is just the beginning. Helping businesses of all sizes provide employees and customers with a warm welcome and a comfortable, productive work environment. Modine heaters even help turn those everyday parking spaces into useful and fun gathering places. From farm to cart to kitchen, keeping our food supply cool and safe is always a priority. That's why we're pioneering the development of technologies for the use of new, environmentally friendly refrigerants, so our coils and refrigeration coolers help minimize global warming potential, making your family's next meal a little greener. With data as the backbone of our digital world, keeping online information secure and accessible is critical. So is keeping that data flowing. Our intelligent cooling solutions provide energy and water-saving technologies that help data centers conserve valuable natural resources, supporting a data-rich future. When it's time to hit the road, our thermal systems and components help cool the engines, batteries, and power electronics driving the vehicles of tomorrow and creating a cleaner future. By supporting the development of zero-emission technology, we're helping our customers get the job done while equipping them to meet their own sustainability and environmental goals. We're not stopping there. Our eye is always on a brighter, greener future with our core values guiding us along the way, operating with respect, integrity, and accountability, working as a team, investing in new technologies, and always looking ahead. Sometimes this means taking the road less traveled, but it never means compromising the quality of what we do. Empowering our team members to explore, break molds, and challenge the status quo is what allows us to discover what's possible. Here at Modine, we've come a long way. We're proud of what we've accomplished, and we're committed every day to what we do, engineering a cleaner, healthier world. Well, I hope you enjoyed the video, and I hope that helped you connect a little bit with our products and our solutions and the impact that it has on us every day. You know, I love that video. You get real-time to see the size of the products, the variation of our products, and hopefully that gives you a flavor in terms of what we mean by the mix shift, right? As we think about the businesses where we have large macro trends, we think about the businesses that we know that we can unlock the value. There's a lot of great examples of that inside of this most recent video. With that, let's take a few minutes to explore Modine, our history, and our capabilities. In 1916, Arthur B. Modine founded the manufacturing company in Racine, Wisconsin. At the time, Art Modine was focused on improving thermal transfer characteristics in radiators for the heavy-duty equipment space. In 1928, the company goes public with two divisions. It went public with the radiator division, and it went public with the heating division. The heating division was spawned by necessity i t gets very cold in Racine, Wisconsin, in the winters of the 20's and 30's. In order to keep the employees warm in the radiator factories, you know, Art Modine invented the Modine gas-fired unit heater, which essentially is core to our product portfolio today. You know, I actually ran into an individual in the airport yesterday, and he saw my Modine shirt, and he says, "Hey, you work at Modine." I said, "I certainly do. Proud of it." He said, "I've been running greenhouses for decades, and we've always had Modine heaters in our greenhouses, and we just love them." It's been around for quite some time. Then in 1928, the company went public on the Chicago Stock Exchange. Then through the 1950s and 1960s and 1970s, there was a great expansion in primarily North America to support the growth in the auto industry. Then in 1984, the company pivoted to the Nasdaq, away from Chicago Stock Exchange, formerly Midwest Stock Exchange. Later, the company experienced great global expansion, and there was quite a few acquisitions in Germany and Mexico, Brazil, the EU, Latin America, across the globe. Then in 1988, it hit a pivotal moment i t reached $1 billion in sales. 2004, we listed on the New York Stock Exchange, and then the diversification strategy started to go into place with the acquisitions of Airedale and Luvata, which puts us here to 2021, 2022. I think what is really interesting about this slide is the staying power of Modine to be around for 100+ years, traded on multiple stock exchanges, going from a North America company, Midwest company, expanding throughout North America and then advancing globally to where we're at today. There's something about it, right, to have that kind of staying power to survive World War I, World War II, Vietnam, Gulf Wars, war in Afghanistan, Great Depression, Great Recession, financial crisis, dot-com bust, pandemics. We're still here, right? Right now, the management team and the board, have an enormous task to take it and set it up for success for the next 100 years, and that's why we're here. That's what motivates us and drives us. Over that 100 years, we've collected a lot of assets, and after expanding over a 100 years, we are working practically in every corner of the world. We're delivering solutions for our customers where they need them, when they need them. We're diversified with $2.1 billion in sales in fiscal 2022. We have 36 manufacturing facilities and 14 companies with 11,100 employees that are proudly working for Modine to deliver on our expectations and goals. We have a strong infrastructure in place to support the transformation going forward. Let's transition into that transformational story where we're going, how we'll focus, how we'll perform, and how we'll accelerate growth. If you think about that ribbon slide that I showed earlier that had the financial targets and the blue portion of it, which was 7.7% EBITDA on $2.1 billion. That's the blue circle there in the top left. Then that middle portion of the ribbon chart that showed us at 10% to 12% EBITDA is the perform and deliver. Then the aspirational goals and our strategic horizon at 13% to 15% is in the green, represented by accelerate profitable growth. This is the strategy to unlock value t his is the playbook. You know, in summary, the 24-month aspirational outlooks are very positive. As we think about this, where we focused, we spent the last 18 months, number one, making 80/20 a core part of our DNA. I've talked about this a lot in our earnings. I've talked about this a lot with the employee base. We have full alignment with the board. This is essentially core in terms of complexity reduction and driving simplification into the business. Last 18 months, under focused organization, we also built a high-performance organization. Very proud of the talent that we've brought into the organization to support the initiatives and goals that we've set forth with Modine. Talent from a set of diverse industries that are here because they see the value, and they want to be part of unlocking the value. We've simplified and segmented the business as recently as the most recent earnings announcement. We went through in great detail the new segment structure that we've put in place. On perform and deliver, we're launching the Modine business model as well as the cycle to drive this throughout the business. We've set up the businesses with where we're gonna maximize the share of our target markets, the focus areas that we wanna grow, and then the areas that we know that we need to make improvement, we need to get the structure put in place so that we can build upon it, when the time is right to grow. Under accelerate profitable growth, we're shifting away from just components into system solutions, system solutions that drive value, that drive differentiation. We're promoting geographic expansion y ou'll see this through some of the slides and points of importance that Eric will talk about. We're gonna pursue opportunities to come in and. There's some areas that we wanna shore up our flanks. We wanna make sure that we can continue to drive differentiation, and we wanna make sure that we can provide a very differentiated product and remain competitive in the markets that we play. Building on the focus, then moving to perform and deliver in the 12 to 24 month periods, and then in the 3 to 5-year strategic plan horizon around accelerating profitable growth, we will expand margin profile, and we'll build a growth engine. It's a mix shift. The values within the organization today, we're redeploying resources, we're redeploying capital, we're shifting mix. That's where we drive the margin improvement. On that first part, focus the organization, the first major step around that was 80/20 organizational structure and then setting us up into market verticals. Now, I've practiced 80/20 for over 10 years, and I've done it in industrial diversified, I've done it in semiconductor. I'm here in a, you know, heat transfer business that is doing it quite well, and I'm very proud of the adoption rate at Modine i t's one of the fastest that I've been a part of in my 10 years. We put together very early on, within the first 90 days, working with Mick and the team, a strategy on how we wanna deploy 80/20 across the organization. We first went out and found our best and brightest, our high-potential people, and we set them up into roles around subject matter experts to deploy 80/20 across the organization. We brought in some consultants to support us and help us to accelerate it. Great group of individuals that we're still working with today. We set up the organization so that we can drive 80/20, and then we started the training process, so it's starting to get ingrained within the organization. At its core, 80/20 is a pretty simple concept. It's the Pareto principle, and it's right here. You have 20% of your activity drives 80% of your results. 20% of your customers make up 80% of your revenue, or 20% of your inputs drive 80% of your outputs. For us at Modine, 80/20 will help us reallocate capital and resources to the businesses with the greatest potential, while most importantly reducing complexity by simplifying our product offerings and improving our operational efficiencies. This is one of the main reasons that drove me to Modine, as I looked at this opportunity, I looked at the great spaces that it plays in. I got to meet some fantastic people. Seeing this from the outside was a clear indicator for me. This is where, as a tool set, I can help the company and drive value. I think, you know, what's really been, I've been impressed with Modine and the leadership team is that very early on, they adopted the principle that this isn't a playbook. This isn't something that someone shows up and says, "Follow these rules of engagement." It's a mindset. It's not a set of tools. You know, the team has thought about this deliberately, and they think about it in terms of the intersection of their products and their customers, and they recognize this is a cultural shift for Modine, and it's not gonna be an easy one. We're not only managing 80/20, we're managing the cultural change and change management as well, and the team has adopted it fantastically. I also know that they recognized very early on it's not a collection of projects. It's truly a journey, and they're signing up for that journey because they're seeing the results. They're seeing the results in terms of their work-life balance t hey're seeing the results in terms of the focus t hey're seeing the results in the profitability. Makes it fun. The second portion of the focus, focusing the organization was around moving away from a functional organization. A functional organization has its place. A functional organization can drive synergies, but a functional organization is often bureaucratic and slow, and in a company of this size, bureaucracy is our enemy. We need to have the entrepreneurial spirit. After prescribing the 80/20 methodology, we went through and established the decentralized market-based vertical approach. We established a GM structure. We didn't have a GM structure before at Modine. This provided clear focus on our end markets and where we wanted to develop strategies based on our goals that we had around these verticals. We provided the GMs with the resources to run their business and their verticals, everything from sales to the shipping clerk. We aligned our teams around our purpose and values. On the left-hand side of the slide, you'll see what I'll call the skills matrix. As we went out and recruited and looked for individuals and GMs and commercial folks to build out the commercial acumen in the organization, we looked for industrial experience. 80/20 experience was key. We wanted to have people that understood where we were going, and they could help train the organization because the organization was willing to learn. The organization accepted it at a rate that I've never seen before, so we knew that we could accelerate. We needed individuals with business development, knowing that we wanted to grow the company not only organically, but inorganically, and then most importantly, commercial excellence. I think this was a piece that we're building on inside the organization that we haven't really had a core competency around in the past. Strong operations skills, strong supply chain skills, strong factory and automation skills, strong engineering skills, system integration skills w e had that. The commercial acumen piece was what made it a more well-rounded organization. Inside of this last 18 months, we've also moved towards the two-segment approach. In the past, we had four segments. We had Auto and HDE, we had CIS, and we had BHVAC. Bringing this together now with Performance Technologies that combines HDE and elements of the coatings business, which was an element of CIS, the EV business, as well as Auto, under one group, I think is absolutely paramount to their success. Under Climate Solutions, you know, bringing together the heat transfer products, HVAC, and data centers together is truly finalizing the integration of Luvata, right? It's bringing it under the HVAC group, where we have similar customers, similar products, and we can drive one approach and one strategy towards our key accounts. Under there are two segments, Performance Technologies and Climate Solutions, we've then simplified it with the three, what I call market-facing verticals. Those are the air-cooled applications, liquid-cooled applications, and advanced solutions. Now, you know, Adrian Peace's got some great slides to break this down and give you context around how we're thinking about those market verticals. Then under the Climate Solutions slides, Eric McGinnis will go into detail in terms of what we're thinking about with these businesses. There are several benefits about this approach. One is opportunity. As you have these segments, and we create these market segments, they're all different sizes in terms of revenue and EBITDA, which creates pathways for our employees, and it fulfills our strategy around employees, which is attract, retain, and develop. In order to drive an entrepreneurial organization and to deliver what we want to deliver on and meet these expectations, you have to be able to attract the best people w e got to retain them, and we must develop them. That must be part of who we are as a company. Simplification is key here w e have fewer business segments relative to total revenue. That makes a lot of sense for a company this size. For me, speed. It supports this with this decentralized management methodology with clear accountability, and we can get quicker decision-making. I saw that very early on when I joined Modine that we needed to introduce speed w e needed to break down, you know, the amount of decision-makers it would take in order to execute. Communication, ease in public reporting, general communication with employee base, it keeps it simple. You know, most importantly for me, outside of speed is strategic classification. Each one of these have the right strategy for their market verticals, whether it's grow, optimize, maintain, incubate, whichever strategy we come up with, it's fit for purpose. It's not a general, everybody needs to grow. That's not the case. Some need to grow, some need to perform, some need to optimize and earn the right to grow. The second portion, the next 12 to 24 months, is perform and deliver. Now that we have the segment structure in place, we're aligned around our strategic classification, we can shift towards this new model. A core tenet of this will be the Modine business model as well as the Modine business cycle. It creates across-the-company alignment, portability, and it's an operating discipline. You can see at the core, 80/20. From 80/20, we move into our strategic planning process, our talent management process to make sure that we have our best people aligned around our greatest opportunities or our best people that are aligned around the opportunities that are fit for their skill sets. We move into how we deploy the first year of strategic deployment. We sign up for it in our annual operating plan so we can set guidance and w e tie it back to goal setting, where each individual in the organization has their element that's tied back to the strat plan. It's systematic. This isn't revolutionary. A lot of companies do this, but it's new for Modine. This structure is new for Modine. You can see in the outer ring there, the customer focus powered by the entrepreneurial spirit. This is the GM methodology in terms of where they're gonna set the strategies for their organization t hey own it. They're closest to the impact. They're closest to the customer. You can see where our innovation is inspired by purpose w e talked about that at the beginning. We started with the why. I don't think a lot of people talk about the why. We can talk in great length and detail about the what and the how, but the why is truly what moves, motivates the organization. People development driven by our values. This is the cycle. It's very deliberate. There's a lot of detail behind this. We can package it up into this nice graphic, and I'd love to talk to you in great length about it, you know, offline, but this is where we're headed with the business cycle as well as the model. The classifications and how we think about these businesses, right? Each one of those market verticals are tasked with something a little bit differently. This is the grow organically in our targeted markets with our greatest macro trends. Adrian Peace and Eric McGinnis will talk about the macro trends in great detail today. You know, what we have here is these business market verticals are where we wanna maximize share. This is where we need to reach full entitlement. This is where we're in existing markets with existing customers, with existing products, with known channel. We know this space, and we're prioritizing these systems over components t hat's key. We're leveraging that massive footprint that I showed you in an earlier slide, retooling the footprint so that we can support the growth in these verticals. We're spending energy and capital in new product development. In data centers, you know, we've. When I started it with the company, we had one facility, 1.25 facilities that was focused on data centers. Eric's gonna give you an update on where we're at today. On the HVACR, inside of there is indoor air quality as well as our heating group, and those businesses are both tasked with growth, and Eric has an update in terms of where we're at i 've talked about that in some, to some extent in our earnings. Very excited about those businesses. In advanced solutions, we'll talk about coatings and EV, primarily EV. Adrian will bring some context around that. These businesses are truly how we shift the mix. This is the transformation, right? You saw the CAGRs that I showed in the financial slide, 6% to 8%, you know, 8% to 10% CAGR. Some could argue those are nominal CAGR rates for revenue. I would agree. Maybe that covers inflation. Inside of these businesses, they're gonna be tasked with growing at 10%, 50%, 100%, sometimes as much as 200%. Where you see on the other side of the business, we may see decline. So these things start to level out, and this is how you see the significant shift in EBITDA is through this mix. On the simplify and improve portions of the business where we've classified are the air cooling applications, liquid cooling applications, and heat transfer products, and I think you can see some of the results of that, most recently the work that we've done in the coils and heat transfer business. Now, Adrian has a lot of good information around this, but essentially, you know, we're not targeting revenue growth here. We're targeting margin expansion. You gotta clean it up, simplify it, reduce the SKUs, understand our customer count, make sure that we're aligned behind the best ones n ot every dollar is a good dollar here. That's an important philosophy. Over time, these businesses can grow, but having firm financial targets set within these businesses for profitable growth is how we continue to shift this. We'll have more detail behind this with Adrian Peace. This gets us into the final phase, which is accelerate profitable growth. Let's shift gears into these aspirational goals. Shift to system solutions versus components. We wanna climb this technology staircase. Today at Modine, we have varying degrees of components and system solutions across both segments within the market verticals. We have this in our data centers business. We have this in indoor air quality. We have this in EV w e have this in HVAC w e have this in coolers. We have systems businesses. We have businesses that are at the component level? and then we have them all the way up this, the technology curve, where we're designing systems like in indoor air quality that provides heat, provides ventilation, provides cooling, provides software solutions, provides humidity control. It is truly a system, and we're gonna continue to evolve and drive up that curve because we believe that's where we can drive maximum value. The great thing about that is the largest macro trends that we see, the mega trends that we're seeing, driven by policy, driven by customer behavior, are supporting the things that are around the systems, system solutions that we have. Eric will talk in detail about that. We're gonna promote geographic expansion. The growth over 100+ years and the factories that we have in place, the relationships that we have in place, the networks that we have in place, we're gonna leverage that. We're gonna start the retooling process so we can grow. We're seeing that today. We're seeing the rapid build-out and improvements that we've done in Mississippi and Virginia to support the data center growth. We're retooling factories. We're making those investments. This is what I mean when I talk about redeploying capital. We're gonna pursue M&A in our chosen growth markets, and then where we can focus on technology and products, geography, channel, those are the areas. We'll focus on it in technologies on the Performance Technologies side of the business because of our EV group. We'll lean towards system solutions and less towards components, so adjacencies, things that complement, things that are one or two degrees away, and we'll continue to climb that technology curve. In conclusion, we come back to the why. We're engineering a cleaner, healthier world. We're building on 100 years of excellence in thermal management. We have products and solutions that help improve our environment. We have a new leadership team that's meshed with our existing leadership team, that's fully aligned, because of the segmentation approach. The GMs have put the strategic plans in place t hey're excited for it t hey own it t hey understand the accountability model behind it. We have significant opportunity for margin improvement, and we're gonna do this through 80/20 and unlocking the value. I come back to this, the punchline, right? This was the third slide in the deck. This is what we aspire to do. Double EBITDA from fiscal 2022 throughout our strategic horizon in green. With that, I'd like to introduce you to Adrian Peace, President of Performance Technologies. Good morning. I'm Adrian Peace, the leader of Performance Technologies, and I'm excited to share with you our vision for this business. Let's just dive right in. Performance Technologies business is made up of three verticals. Our air-cooled applications are the beginning of every system and are used to transfer energy between ambient air and the working system. These products improve performance on critical systems in key end markets, such as generators and agricultural equipment. Our second vertical is called liquid-cooled applications. These products are the heart of most every system and are used to remove waste heat and enhance thermal control. Our product designs translate easily from internal combustion to electrification applications over time. Our final vertical and it is advanced solutions, which includes our EV systems, as Neil alluded to, and our components businesses, along with our coatings business. Our more than a century of heat transfer management expertise puts us in a unique position to understand and develop products and solutions to meet the latest industry trends. We understand how to create energy-efficient solutions. That ensure critical equipment lasts longer, facilitating a cleaner, healthier world. This is particularly important as we move towards electrification and other alternative energies. You know, as we stand here today. The makeup of this business is about 50% air-cooled applications, 40% liquid-cooled applications, and 10% advanced solutions. We envision a Performance Technologies business in the future where the split looks dramatically different. This is driven by the same key growth drivers that Neil alluded to earlier. Ultimately, what we do in Performance Technologies is we provide technologies and solutions to address many of the world's key challenges. We have continuously supported more efficient systems to meet new government regulations by developing our oil coolers and liquid charged air coolers to increase fuel economy. This allows vehicles to run further with less fuel, or simply put, to be more fuel efficient. We have tapped into the legacy of innovation in the development of our electrification solutions. Our battery plates and battery chillers have maintained battery temperatures since some of the first electric cars have hit the road. Now, our EV advantage or EVantage Battery Thermal Management systems are on urban buses, and they facilitate efficient mass transit in the ever-growing cities and also ensures the safety of passengers by monitoring the performance of the battery. These same products make it possible to do things like cleaning the streets after the big four of July parade that's gonna happen here in just a few weeks. In addition, our coating solutions protect systems from corrosion in some of the world's harshest environments, extending the life and saving space in our landfills across the globe. You know, in our pursuit to capitalize on these growth drivers, we need to focus and align the organization, as Neil alluded to earlier. We are creating a high-performance and empowered culture within the Performance Technologies segment. We have brought in key new leadership and promoted from within to develop this culture. We are also reducing complexity in this business using our 80/20 strategic lens. This will allow us to simplify our operations and focus resources on the right product offerings. An example of this is the segmentation work that we did recently with our EV systems. We split this business from the traditional components businesses and put a strong leader in charge to bring focus to it. We have dedicated capital and resources to maximize on the very high growth commensurate with our customers' expectations. This business started out with a handful of engineers, and in less than a year is a planned organization of 70+ dedicated employees. This is a key example of how we are redeploying resources within our organization and dedicating resources with the product and markets with the greatest growth drivers. We have clear expectations of what we will do to perform and deliver, and metrics in place to measure our progress. Commercial excellence will be a continued focus to capture our value. Our innovations will be focused on system solutions and the key products required to deliver these. In order for us to be successful, we must continue to step up the technology staircase into systems and solutions and less focus on heavy duty manufacturing. What does this mean for Performance Technologies? This means that each of our verticals has an important role in getting us to our EBITDA goals. This slide shows those different roles that each of them play. 55% of our business, primarily liquid-cooled applications, will focus on optimization and transition to electrification and fuel cell applications. Using 80/20, we will concentrate on the value pricing and quoting filters to ensure that we are taking business that fits into our strategic product lines and achieves the desired margins. We will also optimize the plant structure to meet these product roadmaps. 35% of our business, primarily air-cooled applications, will need to be rationalized, as these are legacy technologies with declining life cycles. These will be addressed through pricing and filters on new projects. We are going to also look strategically at other options for portions of this business that have value. Finally, 10% of our business today is our advanced solutions vertical, which is the fuel of our growth strategies. These businesses have the right to win in key growing markets. We will focus on the niche systems and solutions to solve these critical needs with the quality and innovation by which Modine has been known for a 100+ years. How are we gonna get there? The technology drives us there. This slide is important as it gives a visual of our building blocks throughout the technology transition journey that we're on. We employ a building block principle for these technologies. This allows us to build product for current internal combustion engine and hybrid applications while having the flexibility to support the transition to a predominant EV world. These same building blocks can be produced in the same plants and on the same equipment we use today. This supports our high profit, low capitalization model for future business. This diagram shows the legacy products on the left that we will not take on the journey to electrification. The middle section shows the products that currently support the internal combustion engines or ICE, but also support the transition to electric as the market changes. Finally, the section on the right are our niche products that we have developed to address our customers' thermal challenges on their electric applications. We have covered the Performance Technologies strategies, but let's take a deeper dive into the specific verticals that I've been talking about. We'll start with air-cooled applications and why do we do what we do in air-cooled? Modine uses world-class materials to provide lightweight integrated solutions with high durability that increase fuel economy, reduces emissions, and provides comfort cooling for the cabin. We play in many on-highway and off-highway markets to address vehicular, power, and agricultural needs. However, our long history in this area has created some complexity in this business. Our current portfolio includes legacy product lines late in their life cycle. Through 80/20, we are going to rationalize these product lines. The remaining product lines will be optimized through the same 80/20 lens with a focus on innovation only in areas of defined growth like systems solutions. We also will improve profitability and pricing while limiting new quotes to strategic products through filters. Simply put, the goal for the air vertical is to simplify the business, improve the margin profile, and focus on key technologies that support our systems solutions. Our second vertical is liquid-cooled applications. This vertical focuses on precision cooling with technologies that cross internal combustion, electric, and system applications. Our building blocks for these products support the electrification transformation and transition to fuel efficiency and also reduced emissions. This flexibility will support a low capitalization through the industry transition and supports a better profit model for Modine. A small portion of this portfolio is dedicated to heavy-duty engines with a long EV transition tail. We will optimize profitability and resources as we manage this tail using our technology roadmaps. The majority of the liquid portfolio is focused on the transition to electrification systems. Now, this brings us to our advanced solutions vertical. In this vertical, we will use the building blocks to move up that technology staircase that Neil alluded to earlier, and that I mentioned as well, into systems and solutions. In the advanced solutions vertical, we are focused on providing the precision thermal management control required for zero emission and energy efficient vehicles and solutions that provide world-class corrosion protection for better performance and longevity. Let's first concentrate on the corrosion protection. In our coating solutions, we see opportunities in other spaces to leverage our technology. While this has been a niche offering, we also see coatings playing a role in other adjacencies further targeting those macro trends relative to climate change. We not only see this business as one that can provide world-class corrosion protection, but we also see additional opportunities in zero emission technologies, the evolution of data centers, and new markets such as marine. As more advanced materials are used in heat exchanger applications to provide world-class performance, they become more susceptible to corrosion, contamination, failure, and eventual leakage. We're investing in this agent, this adjacency to provide solutions to protect these applications by providing enhanced performance and longevity. Now let me transition to electrification. As vehicles, both heavy duty equipment and automobiles, transition from internal combustion engines, otherwise known as ICE, to 100% battery power and fuel cell offerings, thermal management is a critical topic to keep batteries and power electronics on the vehicle at an optimal temperature for safety and to maximize range between charges and extend the lifetime of the vehicle. Our thermal management solutions include the heat exchangers needed for heat transfer as well as complete systems. We are stepping up the technology staircase as part of our transition as a company to zero emissions and offering systems with advanced fluid control to provide comprehensive thermal management. You likely know just a couple of weeks ago, we announced our EVantage line of thermal management systems for commercial vehicles, also our commercial electric vehicles. We've been working closely with our strategic customers over the last couple of years to design thermal management systems for the battery pack and power electronics on buses, freight trucks, delivery vans, fire trucks, street sweepers, locomotives, and really a wide range of heavy duty commercial vehicles. Today, we are in production or engaged on over 75 different vehicle platforms. The beauty of this is it has led to opportunities in air, marine, energy storage, power generation, and charging, and we expect to continue to evolve our product portfolio to address adjacent market needs in the future. Let me bring all of this back. You've seen this slide before, but I wanted to use it to highlight the products that we are bringing to serve this market. I've said that the transition can use our existing building blocks, and as the market evolves, our technology is migrating. What's driving this change? Government policies and green initiatives are driving the EV adoption rates and infrastructure changes. Modine has the products ready today to drive growth in the solutions applications required to meet these policies and initiatives. Modine also has a strong brand and proven performance record during the past emissions and policy requirements. We will leverage this to win business and to continue to innovate for new market requirements. We have the technology understanding to take advantage of these growth drivers and a proven track record of developing the right solutions. This expertise combined with the 80/20 mindset will allow us to focus on the right markets, products with an improved profitability profile. How do we take full advantage of these market tailwinds that I'm talking about? Clearly, the advanced solutions business has the right to win in these markets and is very important to Modine. It's critical to moving up the technology staircase, as I alluded to earlier. Not just on heat exchangers. It's critical for new product development on solutions to create stickiness with our customers, including selling technical services for customers that are new to the industry or just need additional support from our wide range of thermal expertise. Our key account management methodology will focus on excellent customer satisfaction and improved profitability for Modine, both delighting our customers and shareholders at the same time. I've given you the what, given you the how, I've also given you the why. Let me describe the win. When I say win, I mean W-I-N. As we accomplish these strategic priorities, you know, over the next five years, as we execute on these strategic initiatives, our revenue mix will shift toward our advanced solutions businesses. That's a good thing for Modine. We expect for the vertical to organically grow at a 30% to 35% CAGR during this period, while also being the focus area for acquisitions. This growth will be offset by the simplification discussed earlier, particularly on our air-cooled applications. Our liquid-cooled applications vertical will reduce slightly as it converts from internal combustion technologies to electrification, as you saw in the product evolution slide I showed earlier. This revenue shift is made up of different actions, and here you can see them. Revenue growth in the next two years is driven by volume and pricing. While we will see exponential growth in the advanced solutions business, the major driver in that time frame is the market recovery and also value-based pricing that we are establishing in both the liquid-cooled and air-cooled verticals. We have already begun the rationalization work discussed here, which will offset some of this growth. Beyond fiscal year 2024, we will continue to aggressively grow the advanced solutions businesses, both organically as well as inorganically. How does this translate to the bottom line? While our revenue growth is somewhat limited, volume growth and mix shift should provide approximately 200 basis points of margin improvement. We will emphasize better commercial acumen to ensure we get the value for the products we provide, which is expected to lead to about 200 basis points of pricing improvement. Finally, using our 80/20 mindset, we will focus on the right growth and rationalizations. This simplification of business will drive 100 basis points of productivity improvement net of inflation and allow us to build operational excellence throughout the business. We have metrics in place to measure this in all areas of the business. With all of the actions we are taking today, we expect to see significant margin improvement in the next 24 months and significant additional EBITDA margin improvement in the following three years. Our goal is to have the business earning in the 10% to 12% range over the next two years, and we anticipate in the 14% to 16% range by the end of fiscal year 2027. In summary, from a financial standpoint, we expect to hold the revenue relatively flat while building a more profitable business. While the landscape of the Performance Technologies business changes, we will also see the capital intensity shift. With our current capacity and focus on systems and solutions, we can continue to support the transition to electrification with a lower capital investment and significantly higher cash flow. To wrap this up, the key takeaways for Performance Technologies are these. We have the right people and the right mindset through 80/20 to make this happen. We have the right to win in advanced solutions, and we are. We will simplify and focus the business using our 80/20 strategic mindset, and we understand how to innovate and move our way up that technology staircase. You will continue to see improvement over the next 24 months, and we have a long-term strategy for success in the years beyond. Thank you w ith that, we're gonna take a 10-minute break, and after that break, we'll continue with Eric McGinnis. Thank you. Is that better? Okay, great. Trying to scoot over to the side. Great. Within the Climate Solutions segment, we have three verticals. Heat transfer products is our coils business with revenues of $480 million in fiscal year 2022. This business sells to OEMs in a wide variety of applications and end markets, including industrial, commercial, and residential HVACR. The next vertical is our HVACR-focused end market business, which had revenues of $330 million in fiscal year 2022. This vertical includes our heating business, which is the preferred heating solution in residential garages, commercial warehouses, and greenhouses. This vertical also includes our indoor air quality business, which includes products that sell primarily into schools. We offer unique solutions that provide the best method for eliminating cross-contamination from classroom to classroom while controlling the environment. Finally in this group is our coolers business, which sells large commercial and industrial refrigeration into power, process, and commercial refrigeration end markets. Our third vertical had approximately $100 million in revenue in fiscal year 2022 and serves the data center end market. We sell chillers, computer room air handlers, and fan walls to large data center customers, helping them efficiently cool their environments. We also have a large service team that performs startups, routine preventative maintenance, as well as a controls team that helps control the data center environments and can detect potential issues before they arise. These three verticals make up the Climate Solutions segment with a combined revenue of $910 million last year. Our segment is aligned with many of the growth drivers in the world today, which will help us organically exceed $1 billion in annual sales over the next two years. Our products combat resource scarcity by avoiding waste in the food chain. Our heaters help greenhouses grow food, while our coils and coolers help keep food cool and fresh throughout the entire farm-to-table process. We offer a wide range of energy-efficient products. We have the highest energy-efficient heaters for applications that operate with longer duty cycles. In data centers, we engineer a full line of chillers and coolers that allow our customers to meet their aggressive power usage and water usage sustainability goals. To support global health, our IAQ school products help teachers teach and students learn in a clean air, climatically controlled environment. To help combat climate change, our coolers and chillers leverage the use of low global warming refrigerants, helping our customers transition away from systems that damage the ozone layer. Lastly, in cloud technology, we help data centers keep up with the growing demand for data while cooling in the most efficient ways and using the least amount of water. This is a key competitive advantage we have today in the market. These are significant growth drivers that are providing market tailwinds for our products and solutions that will help us meet these revenue targets. We are well on our way of our goal of decentralizing the company into two segments and six verticals. Within the Climate Solutions segment, we have a strong management team with 80/20 backgrounds and proven execution track records. Data center and HVACR are well-positioned for double-digit organic growth this year, while heat transfer products is very focused on improving profitability. Overall, we anticipate this segment improving EBITDA from approximately 11% to 13% over the next two years. We are very focused on simplifying our business and reallocating our people and capital into businesses where we see a clear path for profitable growth. We are focusing on fewer customers and differentiating ourselves from the competition with service and technology. Over the next three years, we will shift from product focus to full solution provider for key customers. We are already doing this well in the U.K. with the data centers business with over 80 service personnel throughout the country. We will now be taking this expertise and transitioning it to the rest of Europe and in North America. We're also looking to expand our verticals geographically. We have a leading position in Europe in providing coolers with environmentally friendly refrigerants, and we are now bringing this technology to the U.S. as this market now has a greater focus on the environment. We are planning to expand our heaters business, which is predominantly in the U.S., into U.K. and Europe. In data center, two years ago, we were a U.K.-centric business with only one manufacturing facility in the U.K. Now we have five facilities in U.K., Spain, U.S. that are focused on this high-end growth market. To further fuel our growth, we will start ramping up M&A activities. We will start with our HVACR vertical, where we have solid margins and good technologies and are looking to expand geographically. Data center will come next as we fill our current plants and expand our reach. Now let's discuss our first vertical, heat transfer products, formerly known as our coils business. We design, manufacture, and test heat transfer product for a wide variety of applications and markets. We sell directly to OEMs, and our latest technology allows these OEMs to use a more sustainable refrigerant like CO2 for a cleaner and healthier world. We are the largest independent coil manufacturer in the world with a global footprint and now a refreshed management team. In this vertical, we're very focused on deploying 80/20 to simplify the business and improve profitability. As a result, we expect revenues to decline, potentially by as much as 10% this year, as we look at rationalizing the product or customer that does not meet our profitability objectives. At the bottom of this page are pictures of our products. We make coils utilizing aluminum and copper tubes and fans from the size of a microwave to the size of a bus. On the top are pictures of two key end markets where we are seeing strength and gaining market share. First in Europe is the heat pump end market for residential heating and cooling. As Europe moves away from gas towards electric, our products will support this transition with key OEMs. We have ramped up capacity in our Serbia facility to support this increased demand. The other end market is pool heaters here in North America. Along with seeing a pickup in the North America pool heater market, our team is gaining share due to our superior design and delivery performance. This vertical plays in a global heat exchanger market estimated at over $5 billion, excluding microchannel coils. The markets we serve are estimated to a total of $2 billion and are focused on commercial, residential, mobile AC, along with precision cooling applications. We serve these end markets through OEM relationships as well as some direct aftermarket support. Some of our larger customers make their own high volume coils, but within our target market, we estimate our share at approximately 25% to 30%. We believe that we're in a good position that after we simplify our product lines and customers based on profitability, this vertical will have the correct base to profitably grow again. We are using 80/20 to simplify our product lines, our supplier relationships, and our own organization. We will focus our teams and capital on favorable mix and improve our cost positions with Lean Kaizen focused on material and labor productivity. We're already seeing nice improvements with this strategy and the turnaround is well underway. The entire HTP team is focused on capturing the value for the products we provide to our customers. Now we'll discuss our second vertical, HVAC and refrigeration. We provide heaters, ventilation and cooling products, and refrigeration and industrial cooling solutions in North America, Europe, and to a small extent, in Asia. We offer a wide variety of products and solutions to specific end markets within HVACR. Modine is a market leader in gas-fired unit heaters in North America. Over the past 10 years, we've delivered organic sales growth with a compound annual growth rate in the high single digits. The growth has been driven by several factors. First, we're winning in the market with service and have been able to consistently increase our market share. Second, the overall market for unit heating solutions has been growing. Third, we're able to capture price both on an annual basis and to offset inflationary pressures on this business. For indoor air quality, our Airedale by Modine brand is a market leader selling into schools. We provide single packaged unit ventilators, which is the most preferred method for bringing clean air into the classrooms while eliminating cross-contamination between rooms. In the last five years, Modine has provided clean air to over 30,000 students and teachers across the country. We have some of the best sound packages and quietest in-classroom units in the market that allow teachers to teach and students to learn. We are continuing to rapidly expand capacity in our USA plants as we expect demand to continue to surge over the next few years while our core customer base leverages COVID federal funding to improve their school infrastructure. Over 40% of the more than 130,000 K-12 schools in North America require HVAC upgrades, and our products are great solutions for this retrofit space. Our ECO and Coiltech by Modine brands are cooling products with some of the most compact and highly efficient products in the market. With the clear mandate to shift away from fluorinated greenhouse refrigerants, some of our coolers use a CO2 gas air cooler solution which doesn't damage the ozone. We are a leading supplier in Europe and bringing this technology to North America. We play in a large $10 billion global market, while our strategic market we estimate at $1.8 billion, giving us approximately 18% share with plenty of room for growth. This market is estimated to grow at 6% annually as the demand for sustainable and energy-efficient products and solutions are increasing. The current resource scarcity is creating demand for greenhouses and vertical farming. We have a leading position in the greenhouse market with our high-efficiency heaters, which will help meet this demand. Also, the global focus on sustainability is increasing the demand for more energy-efficient products, and we're in a great position to meet these needs with our Effinity unit heaters, which operates at a thermal efficiency of up to 97%, which is best in class. For our school products, COVID government relief programs like the CARES Act and American Rescue Plan, ARP, have allocated over $200 billion in elementary and secondary schools, of which a large percentage is intended to be spent on improving HVAC infrastructure. Most of the funding must be spent by the end of 2026 and is creating a large demand across the country for clean air solutions. The demand for clean air products is outpacing current supply, which is allowing us to simplify our product offering and ramp up capacity. In addition to rapidly expanding our unit production capacity, we're very focused on growing our service business, which is providing high margin, reoccurring revenue for years beyond initial installation. As schools across the country continue to face labor shortages in their facilities and maintenance departments, we are able to leverage our large Modine service network to support their needs. Overall, Modine is a leader in some specific key end markets. Our trusted brands allow us to win in new construction applications as we leverage our strong installed base for replacement opportunities. Our focus teams are deploying 80/20 to reduce complexity, lean out our facilities, and drive profitable growth. We are driving growth with high-efficiency products, indoor air quality solutions, and cooling critical applications with clean refrigerants to prevent ozone damage. We continue to launch next generation products to meet our customer needs and stay ahead of the competition. We are expanding our service teams as our customers rely on us for uptime. Finally, we are starting to pursue inorganic opportunities to increase our market share, gain new technologies, and expand geographically. Our final vertical I'm excited to review with you today is data centers. We provide key sustainable cooling solutions for the growing data center market in Europe and North America. Just two years ago, this vertical was operating out of a single facility in Leeds, U.K. We now have five facilities, with two in the U.K., one in Spain, and two in the United States. We have opened a new North America chiller factory in Virginia, modeled after our Leeds, U.K. chiller facility, to service the North America market with the latest technology. We will ship our first chillers later this calendar year. Additionally, we have expanded our Grenada, Mississippi, Guadalajara, Spain, and Consett, U.K. facilities to manufacture the next generation of computer room air handling units and fan wall products. This is giving us enough capacity for future expansion as we continue to develop long-term relationships with some of the largest customers in hyperscale, colocation, and telecom markets. We have a full offering today with chillers, CRAHs, fan walls, field startups and service, and IoT controls. Our Airedale by Modine brand is well-recognized today in the UK and growing throughout Europe and North America. Our solutions use the latest in energy-efficient products, but what differentiates us from the competition is our responsiveness and our service. We respond before our competition, and our lead times allow us to get the products to the customer site when requested. We play in a large $11.4 billion global market, where we estimate our strategic market is more like $2.6 billion, giving us less than 4% market share. This is very exciting for us, as it's gonna allow us to have double-digit growth for many years to come, and we continue to take market share. The focus on sustainability with higher efficient products and using less water fits our current offering very well. We're also working with a few large end users on the next generation of sustainable products. We have over 80 service employees in the UK servicing this end market with startups, preventative maintenance, spare parts, and routine service calls. We are translating this success to the rest of Europe and North America now. Our IQity-branded software allows data centers to monitor their performance and keep the data center at the correct environment. It keeps their products running as efficiently as possible and utilizes artificial intelligence to provide a predictive maintenance and calling our service personnel well in advance of a failure. Our focus data center team is simplifying our product offering and going deeper with a select set of key global customers. We believe that providing these customers with the right solution and the best service in the market, we will become their most reliable partner. This trust will allow our business to grow geographically with fewer global partners. We are not looking to serve everyone, but the customers we do partner with will get the best service. That was a quick strategic review of the three Climate Solutions verticals, and now let's discuss the high-level financials. You can see that we anticipate having higher growth rates in HVACR and data center while we focus on improving profitability in heat transfer products. Large market tailwinds within data center, indoor air quality, along with gaining share with our focus on service to select customers gives us confidence in these numbers. We have been in these businesses a long time, but the difference is focus and resources. By establishing teams dedicated to these verticals, empowered to make decisions and held accountable for results, we're able to provide more resources to these businesses and improve our growth potential. In addition, we plan on complementing this organic growth by targeting acquisitions that improve our right to win in adjacent regions, technologies, and markets. In addition to volume, pricing is a big part of our revenue and profitability growth. Price did not fully cover inflation last year, mostly due to the timing of our increases, but we will make up for it this year. We wanna partner with customers that value our products and services that allow us to invest in future technology focused on sustainability. We will rationalize products and end customer relationships where this is not possible. This revenue growth will be somewhat offset by planned revenue declines in HTP, which I previously mentioned. In total, we expect a compound annual growth rate of 6% to 8% over the next two years. In three to five years, we expect further acceleration of growth from targeted acquisitions. Now let's look at our profitability. As we discussed on the previous two slides, we expect our business mix to change as data center and HVACR outpace the growth of our heat transfer products. This, in addition to our 80/20 and overall pricing actions, our EBITDA is expected to grow by 300 basis points over the next two years. While volume and price play a big part in our improvements, we are now focused more than ever on continuous improvement and plant productivity to get us to the profitability targets. We are performing Kaizen events in every plant, as well as in the offices from order entry to the shipping process. Beyond 2024, we are seeing continued opportunity to expand margins in this segment driven by volume, mix, price, and productivity. Overall, we expect this business to operate at EBITDA margins above 15% in the next three to five years. We believe that this segment will have revenue growth 6% to 8% over the next two years, with EBITDA margins between 13% and 15%. We have doubled the capital investment in this segment to leverage strong market tailwinds that will allow our verticals to gain market share. Each vertical plans to expand in both Europe and North America as we want to be a one-stop solution to our customers. In the following three years, we expect to see CAGRs in the 15% to 20% range, including both organic and inorganic growth, with EBITDA in the 15% to 17% range. Here are the key takeaways for Climate Solutions. We have decentralized the company and now have very focused verticals with high-performance leaders that are transforming their business using 80/20 methodology. We are growing our revenue in strong end markets like data centers and HVAC and refrigeration, while bringing technology to help solve sustainability challenges to our customers. We will shift from products to solution provider with a focus on new regions and new markets. Finally, as each vertical improves their profitability, we will look at acquisitions to add new technology and geographical expansion. From a personal perspective, I couldn't be happier to be at Modine and leading this segment. Now I turn it over to our CFO, Mick, for an update on the numbers. Thanks, Eric. Good morning, everybody. I'll take a moment and run through the financial highlights for you. Starting with the Modine revenue breakdown w ith approximately $2 billion in revenue, Modine has a very diversified business portfolio. The graph on the left depicts a revenue breakdown in our six market verticals. Again, our targeted growth areas are advanced solutions, HVAC&R, and data centers. The majority of the liquid-cooled products will be optimized and transitioned to electric vehicle, and a large portion of the air-cooled products will be rationalized over time. On the right, we show our revenue split by application. Within our growth verticals, applications include EV and specialty vehicle, heating, indoor air quality, data centers, coolers, and coatings. We'll protect our leadership position and increase margins in coils, which is also known as heat transfer products. In the light vehicle, commercial vehicle, and off-highway, we'll convert from internal combustion engine to electrification. Last, at the bottom, we have a fairly even split between the Americas and Europe, Asia. As Neil presented, we've begun a multi-phase transformation. The focus phase is mostly behind us. Over the past year, we've been focused on preparing the organization and building capabilities, especially around 80/20. Over the next 24 months, we'll begin to benefit from the key 80/20 elements: simplify the business, treat our businesses differently, reallocate both people and financial capital, and focus on margin improvement as we prepare for revenue growth. Through these actions, we're targeting a 10% to 12% EBITDA margin, which is a 200 to 400 basis point improvement within the next 24 months. Ultimately, our goal is to exceed Modine's previous high-water mark and outperform similar industrial companies. We'll become a stronger company, higher margins, improved cash flow, and ultimately a larger enterprise value. All this work will support the second phase of our transformation, which will have a heavier focus on growth and likely include more acquisitions along with some potential divestitures. Over the last several years, Modine has hovered around $2 billion in revenue and a mid to upper single-digit EBITDA margin company. 80/20 will lead our transformation in two ways. First, over the next 24 months, we'll have a heavy focus on margin improvement, moving in the 10% to 12% range. This will be achieved through a better business mix along with pricing, cost reduction, and rationalization. At the same time, we're reallocating resources to our growth verticals. During the next phase, in the three to five year window, there will be a larger focus on accelerating growth. Here we'll benefit from the growth in targeted verticals, including better margin and mix, plus additional growth from acquisitions. As Adrian and Eric highlighted, revenue over the next 24 months will benefit from a combination of higher volume and improved pricing, partially offset by some planned rationalization. During this period, we anticipate revenue growth across both Climate Solutions and Performance Technologies to be about the same. The rationalization efforts will be mostly focused on air-cooled products within Performance Technologies and heat transfer products within Climate Solutions. In the next phase or years three to five, we anticipate organic growth will be driven by rapid growth in our targeted verticals. Performance Technologies will be a similar size but with a healthier mix as the growth in advanced solutions offsets the product rationalization. Climate Solutions will grow organically with rapid growth in IAQ, heating, and data centers. Last, we'll supplement organic growth by being more aggressive with acquisitions. From a margin perspective, we're planning to meet or exceed Modine's previous high water marks, as Neil discussed. Between now and fiscal 2024, the main margin drivers will be volume and mix, along with improved pricing on low-margin products. Productivity includes lean initiatives and will offset inflationary assumptions for labor, material, overhead, and SG&A. We're targeting three to five year margin improvement of another 200 to 300 basis points. This will be driven by improved volume, scale, and mix. This also includes the benefit of rapid growth in our highest margin businesses. A key element of our successful transformation relies on a disciplined capital allocation strategy. Our current priorities are to reinvest in the business to transition and transform and support our acquisition plans. We'll manage to tight capital spending targets, and we're already reallocating to higher margin businesses. From a restructuring standpoint, we anticipate $20 to 30 million over each of the next two years. Most of that spending will be in Performance Technologies to support product rationalization. During the current fiscal year, most of the spending relates to the downsizing of salaried and hourly headcount in Germany. The following fiscal year will be mostly focused on plant consolidation in Europe. With regards to the other elements, I'll spend a little more time reviewing the balance sheet and cash flow on the following slides. Shifting to free cash flow, I'd like to highlight that our projections are net of any restructuring cash needs. Our objective is to generate higher and more consistent levels of free cash flow driven by a few key areas. First, improvements will result from higher EBITDA margins, which will ultimately lead to the higher operating cash flow margin. In addition, our growth verticals are less capital-intensive than the legacy businesses, helping to reduce capital spending. As part of the capital discipline, we'll manage to stable and consistent CapEx, well below historical levels that have averaged 4% to 6% of sales or more. Given the connection between return on invested capital and shareholder value, we've established cash flow return on capital goals as part of the five-year plan. In fact, the cash flow return on capital is a critical component of the executive management incentive plan. Management's incentives are consistent with these fiscal 2024 and fiscal 2027 targets. Ultimately, we project that return on capital will improve based on higher margins and improved free cash flow along with the lower capital spending. Our capital structure is well-positioned to support the transformation and future acquisitions. We have a very supportive bank group and plan to amend and extend this portion of the capital structure in the current fiscal year. We have a long-standing relationship with Prudential, our private placement lender, with maturities in fiscal 2026 and 2029. The top graph shows a very manageable debt repayment schedule. Looking at the lower graph, our bank covenants are quite flexible and support our acquisition plans. As we improve earnings and free cash flow, we'll further de-lever Modine while allowing significant flexibility and capacity to support future acquisitions. With regards to acquisitions, we're mostly focused on smaller bolt-on targets over the next two years. We anticipate total acquired revenue will be $100 million or less over the next 24 months. Beyond fiscal 2024, we'll be prepared to pursue large or more frequent acquisitions to accelerate growth and further the transformation. As covered earlier, the main focus areas will be to support growth strategies in indoor air quality, data centers, heating, and electrification. Modine has been disciplined in previous acquisition processes with regards to value and total value creation modeling. In addition, the new management team has significant acquisition and integration experience. Last, we believe that 80/20 is a significant competitive advantage with regards to acquisition strategies since it goes much deeper than traditional synergy analysis. As I summarize the financial targets, I wanna highlight that management has clear targets, with 80/20 guiding all decisions. Business leaders, general managers have their financial targets, and the entire management team is aligned from an incentive compensation standpoint. We anticipate modest revenue growth over the next two years, with a focus on creating a much stronger business portfolio. Revenue growth will accelerate in phase II as our reallocation strategies begin to show through, and we supplement growth through our acquisition strategy. We anticipate that EBITDA margins will improve 200 to 400 basis points in phase I and another 200 to 300 basis points in phase II. These improvements should result in higher levels of free cash flow and support our 13% to 15% return on capital goal. To wrap up and conclude, the financial targets are well aligned with our multi-phase plan to unlock value. Over the next 24 months, we will perform and deliver, then shift to accelerate profitable growth, and it's clear that the successful execution of this plan will drive significant shareholder value. With that, I'll turn it back to Neil to wrap up. All right. Thanks, Mick. Just a couple more slides. First of all, thanks for your patience. I hope this was exciting. It was exciting for me, and I knew what was in the deck. As we wrap this up, you know, we went into some great detail on where we focus the organization i think Eric and Adrian did a really good job in terms of the simplification process, 80/20 at our core, complexity reduction, how we're segmenting the business. We've done that. We're evolving it w e're at level 2, level 3 now so t he heavy lift is on its way, and we have the leadership team behind it united. We're really critically focused over the next 12 to 24 months on this perform and deliver piece. This is the piece that, you know, the work that we're doing, the setup that we put in place over the last 12 to 18 months, we really start to expect to see this translate. Now, this is in a tough environment with supply chain issues, logistics issues, inflationary issues, labor shortages, but we're not making excuses. We're still here to execute. Then that sets us up for a good position to where we can accelerate profitable growth. We can start to reposition the portfolio inorganically. We can start to complement the businesses that we wanna continue to invest in. As Adrian and Eric and Mick come up for Q&A, I'll just leave you with this. I started with this slide. I'm ending with this slide. We talked a lot about the what, the how, the when, but it comes back to the why, your purpose. If you get one of these stories without someone that cannot articulate the why, beware, because this is the thing that motivates you t his is the thing that drives the team. This is the thing that is important to all the stakeholders, and this is who we are. We're engineering a cleaner, healthier world. With that, let's go off script. I feel confined. Let's do some Q&A. All right. Thanks for the presentation, everyone. Steve Ferazani from SIDOTI & Company. The target you've set out for fiscal 2024 seems. Would you consider it aspirational, reasonable, given the concerns that we may be heading into a recessionary environment? Yeah, that's a great question, Steve. I'll let Mick follow up on it. These are our expectations. You know, as we put together our strategic plans, we developed our strategic plans last year for the first time by the market verticals, how we see the markets today, where we see the order book, where we see we've been able to command price through our commercial excellence program. These are, you know, our targets, and these are our expectations as a leadership team. Yeah. The only thing I'd add, Steve, is that, as Neil said, we've set the targets as a plan that we can commit to and deliver. As we look at the range on it, I think the range is really driven, the ultimate result will be kinda what you teed up. I think if we've got stability on the inflationary side, the economy, if there's a slowdown or a short slowdown, we have opportunity to hit the high end of our range there. Certainly on the lower end, we've factored in the major risks we see in front of us. If I could just follow up. Sure. In terms of you talked a lot about potential pricing, and I can see how you get it this year as you're catching up on inflation. Particularly on the more heavy-duty equipment Automotive segment, everyone's always trying to get pricing in those markets, and that's a very hard hill to climb. I'm just trying to think about how much business you're willing to walk away from. Yeah. No, that's a great question, Steve Ferazani w e traditionally don't wanna walk away from revenue t hat's typically the last thing that we wanna do. We wanna serve the customers w e wanna provide them with a solution, but we also wanna get paid for the value. So we go into the negotiations in terms of what that's gonna look like, whether that's on a current platform or that's the next generation platform. When we think about pricing in terms of that section of the business, I think that segment of the business, I think there's a couple areas t here's the material pass-through, right, that comes naturally through metals as metals adjust over time. Then there's, you know, commercial value pricing, right? That would be above and beyond maybe normal agreements because of the inflationary environment. I think, look, there's a lot of people in the supply chain i think there's a lot of folks that are servicing these large OEMs that you know we have a story to say w e have a story to tell. It's a case-by-case basis. We typically go in there you know with the intent to have a conversation to help provide a solution w e typically go in there with the best intentions of customer first, being customer-centric, but we're also very transparent. We're very transparent in terms of what is right for us, what is right for the strategic relationship, and what is right for the customer t hat's how we typically handle those conversations, and it's on a case by case. I'll let anyone elaborate on that if they'd like to. Yeah. Thank you and great question. These are difficult conversations, but we're truly working on building partnerships with our customer base and having very clear-cut conversations with them around kinda where we are, as Neil alluded to, the value-based pricing that we're looking at beyond sort of the metals adjustment that takes place. That's helping us facilitate these conversations, and we're starting to see a little bit of movement with respect to that, which is good. We just gotta continue those conversations and continue the clarity of thought between kind of what we're seeing from an inflationary standpoint. What's been good is that they're open to these conversations, whereas I would tell you that it probably wasn't that way in the past. I'd just add one thing, Steve a s you see the models and the numbers we've provided, those areas where we highlighted as rationalized, I think when we look at our portfolio from an 80/20 lens, that's where we're comfortable having a conversation with a customer if we either need to adjust the terms and conditions or help them to a better solution. It's not across the entire portfolio. Most of it would be what we've already identified as a rationalized category. Good questions. Hi. Brian Sponheimer. I'm with Gabelli Funds. Neil, before your time, Modine spent considerable amount of resources and money trying to sell the light vehicle business, ultimately ended up with a false start there. As you think about the next five years, you think about this portfolio, and you think about rationalization versus what grows going forward, just talk about where that light vehicle business stands and how you move from here. Yeah, no, it's a really good question. You know, thinking of it in terms of light vehicle, heavy vehicle, off-highway, on-highway, I think of it in terms of technology. I think of it in terms of internal combustion engine and EV and adoption rates. If there's customers that are on the adoption curve towards EV, and that's typically on the light side, we look to service that model as long as we see that there's an opportunity for accretive EBITDA percentage to the overall business. It's part of our marching up the technology curve, that stack, providing a solution where we can further integrate with the customer. As we think about that, it's in terms of technology, it's in terms of adoption rates, it's in terms of our system configuration and the improvements that we can make within our operations. It's not so much for me auto versus off-highway, on-highway, heavy-duty equipment, commercial vehicle i t's about the technology. And whether or not we can differentiate with the technology that we can command value. If we can, if it's on wheels, if it's not on wheels, doesn't matter. If it's accretive to the business, if it drives, you know, helps us evolve and innovate and drives us up the technology curve, ultimately, that's where we wanna go as a company. Do you see enough within that portfolio, which is primarily liquid-cooled now, that is on that technological highway? There is a large portion of the formerly known as automotive business on the liquid-cooled side t hat's right, Brian. It was that middle section of the slide that Adrian showed t here was, like, the two eccentric circles, and in that middle portion was the products that are moving towards and evolving towards the EV markets. We're gonna continue to service that. I mean, we have some nice technologies there. We drive value w ith value comes price, and it's overall accretive to the business. When we think about that, we're in a good position, Brian, because if the market were to slow down on the EV adoption rate, we're already on the ICE platforms. If the market were to move quicker in the EV space, we can quickly configure and change over the plants w e can be on those EV platforms with customers that we have relationships with.. You know, the, with known products and known customers. Whichever way the market goes, pending policy, pending gas prices, pending, you know, whatever event that drives it, we're in a good position 'cause we can service both technologies. Good question. Anything you guys would like to add to that or good? Okay. Thanks. This is Matt Summerville with D.A. Davidson. Two questions. First, how does Modine's battery thermal management technology differ or differentiate relative to peers? What's your platform win rate looked like? Can you talk about the number of wins you've had, maybe the value of those wins? Just put more, a little bit more of a finer point on that. Yeah. I have a follow-up. Yeah, good. I knew you'd have a follow-up, Matt y ou always do. That's a good question. Relative to the BTMS, where we're unique is that we provide the full solution. Not every customer requires the full solution. Some large companies, some large OEMs have the thermal management capability wherewithal or esoteric knowledge within their organization today. We provide it in a lot of the disruptors w e provide it with a lot of the startups w e provide it with a lot of the you know, smaller OEMs that don't have this massive infrastructure of engineering network. We can provide this system solution that's a drop-in, it fits, it's in place, some slight configuration depending on the model, but it's one stop shop. That's what's appealing to many of our OEMs because we can provide the solution and they can focus on other things as they try to stand up these complex platforms. We can serve the OEMs that have this technology as well. Sometimes we do a portion of it m aybe it's 70% of the BTMS or it's 75% of the BTMS. We still have the opportunity to win there. There's only a few players globally that can do this, that can provide the full system. We're one of just a handful of folks that can provide the full systems. The OEMs, you know, they have some of this to some extent vertically integrated, but often they do come to us. When they do come to us, we still have a model that we can charge with our non-recurring engineering revenue model, meaning we may not even get the production, but you pay for the services and the knowledge that we can provide. That's that was the first part of the question s econd part of the question, not the follow-up, but you had a second part. Yeah, the second part of the question was maybe just talk about, platform win rates, the number of wins you've had, maybe the revenue value of those wins. Yeah. How that ultimately scales? Yeah, no, it's good. We're actively engaged with 75 different, I'll call it logos. I would challenge you to find a company outside of anywhere other than China that we're not working with. And we're working with them all, everybody that you can think of. I'll defer to Adrian on the specifics, but I think we're on 12 platform wins that are actually going into production. We're on 35 to 40 different pilots that we would expect to be at some point a production phase, whether that's 12 or 36 months from now, we're in that position. The total revenue for that is gonna be $67 million, I believe, in the next, over the program wins that we have in place today, the 12 program wins, right? Again, we're engaged and we're negotiating on 75. When I started at Modine a year plus ago, it was one. You know, it's really accelerated under Adrian's leadership and Gina's leadership. They have really put together a team that's dedicated, focused, organized. They wake up every day thinking about EV. They're not buried in another part of the organization. This is why we're able to engage at the level that we're able to engage. Good question. Second part? I just wanted to ask about the data center business. How much is currently driven by the hyperscale versus colocation market? and how does that evolve over the 2024 and 2027 horizons? Thank you. Yeah. Really good question. As you've followed Modine for a while, that is a very important question, Matt. We are not as dependent as we once were on. As a matter of fact, we're not dependent at all on any single customer w e have diversified quite well, particularly in Europe through the colocation market. The speed, the access to customers, the ability to deliver solutions, you know, some of it bespoke, some of it is highly configurable. They've done an amazing job over with Airedale. The overwhelming majority of last year's data center revenue was diversified through colocations. Now, we have great relationships with large OEMs and key accounts. Those are more cyclical in terms of how they deploy CapEx, in terms of how they get their facilities and their data centers up online s ometimes there's a glut of data center capacity, and it takes, you know, three or four years to work through the system. Now, we have the ability, and we have the relationships, and we have the next generation wins on that i t's just a matter of when they pull from us. We do see some shift in mix. We're not dependent on any one single customer. We've got a great position in colocation in Europe w e're bringing that to North America. Those same relationships are coming to North America. We're standing up facilities in Virginia w e're retooling, and we're investing in Mississippi. We're making a tremendous effort to make sure that we can support that growth, and the order book is healthy. In addition to that, Matt, we're expanding our products in terms of our portfolio. It's not just the CRACs and the CRAHs. It's not just the, you know, moving of the, you know, fluid air inside of the data centers. We're actually, you know, increasing our portfolio with chiller products in North America, similar to what we do in the UK. We serve both markets well. One is more cyclical, one is more project-based t he other one is more of a steady run rate because there's many more customers. We're in position to win in both, and we're starting to see the shift towards colocation, and especially it will accelerate as we move that into the North America market. Anything? I think you said it well. I think our order book is strong. Our backlog is there. We're having less customers, less SKUs, and going deeper with those customers, which is exciting i t's repetitive, good quality, good service is what the strategy is. Hi, Scott Bruce with Paradigm Capital. What's driving the ability to run the business with a lower level of capital spending? or at least as a percentage of sales over the next couple of years? In terms of your free cash flow walk, any other items in there other than higher EBITDA margins and lower CapEx that get you to that point that we should be thinking about? Yeah. Yeah, from a CapEx standpoint, when Neil and I talked about the legacy Modine and those that have been with us a long time as we were back before the Luvata acquisition, and Neil walked through the beginning of the diversification strategy, the automotive side, the truck side, the traditional side of Modine, component-wise was a very capital intensive business. As we go forward, and now we have a better mix, a more balanced mix of building HVAC on the climate side, much lower ratios of capital spending. The capital stays for decades, versus the vehicular side, which each new platform typically required new capital and tooling. As we pivot to electrification and as we're putting a system together, out of that entire system, the heat exchanger components are a much smaller portion i t's the value add, the software, the full system solution. Not only can we leverage the existing assets we have, incremental capital on all the programs Neil talked about is much lower than we've seen. On the free cash flow, the major drivers we really see is the twofold, having higher EBITDA margins going back, you know, as Neil talked about 20 years ago. When I joined Modine, the company generated a tremendous amount of cash i t's a combination of the higher cash flow and less capital spending. Obviously, there's some modeling in there with interest and taxes, but those are the key drivers of it. Can I add a comment to that? You know, that's a great question a s I think about what we're doing from a CapEx perspective in the Performance Technologies business, just to kind of give you a visual. As you think about what we're doing from an advanced solutions perspective and from an EV standpoint in terms of building those BTMSs that you heard Neil talk about and I talked about as well, I could set up two BTMS lines, in this room right here, and we could be manufacturing product in probably two months. That's how easy th e long pole in the tent would probably be our inspection equipment, you know. To do that with heat exchangers, heavy duty equipment and that kind of thing in terms of the older model, as Mick alluded to from an automotive standpoint, that would take several months, probably almost a year to kind of set up a line. In terms of our speed to market, our speed to react to customers, it's much different. You think about the capital intensity in terms of what it takes to set up a BTMS line. You use some of the tables here in the room. It's not like that with some of the traditional heat exchangers and sort of the heavy-duty side of the business that we've had in the past. I'd tell you that's one of the bigger fundamental differences in why our capital mix shift takes place. Question from the WebEx. Can you give some examples of how 80/20 is improving your business, and where are you on the timeline from an inning standpoint? Yeah, yeah. Good question. Whether we're talking Climate Solutions or Performance Technologies, we're at different levels of the curve. We had launched this, started this inside of Climate Solutions deliberately. We picked data centers first, which is the furthest along, inning three, four. They're the furthest along because we started there, and we started there because we knew we had some of the greatest potential within the organization given the markets that they serve. I don't think there's any argument there. As we've rolled that out across the rest of the organization inside of Climate Solutions, they're an inning behind, right? They're two to three months on average behind because we spent so much time focusing on data centers. Then recently we've pivoted the enormous amount of resources and energy over into Adrian's group. Adrian is now organizing. He's setting up his group. He's thinking through the products h e's thinking through the mix h e's thinking through his OEMs and customers, and he's putting together those strategic decisions. He's very early on in the game. That's okay. I mean, it's not as if it will take as long, arguably, in Performance Technologies as it did in Climate Solutions because we've got a little bit of learning curve that we've been able to breach w e've gone through this w e've seen this show before. We spent six, eight, 12 months on it in other parts of the business. There is some muscle memory there, and I think we can accelerate that w e've hired a lot of people that come in from an 80/20 background that have this skill set that, you know, they can deploy this in a much, more rapid fashion. We're moving along s ome examples, big examples, we're at two segments. We're focused on the right verticals. We're focused on doing the right things w e put a GM and structure in place w e blew up a functional organization. We have a strategy in place based on the classifications of markets, whether you're grow or incubate or maintain or perform, whatever it is. We have established the right strategies through 80/20, through our 80/20 methodologies, and it's changed the organization i t's changed the organizational structure. It's changed where we focus our time. It's changed what's important to the organization. At very tactical examples, we've done some fantastic things inside of CIS, now part of Heat Transfer Products. Tactically, you can see some of the results that have come through in the income statement in the most recent earnings. They've done everything from not only aligning behind the right products and the right customers and simplifying, but they've taken it all the way down to the factory level floor. You can literally see the design of the factories that are set up based on velocity, driven by 80/20. That's an advanced stage, and that's because we have fantastic leader there that has a fantastic team that's been early adopters of it. You can start to see that translate over time throughout all the businesses. Anything you'd like to add? Perfect. I would just add on the pricing charts we showed and the bars, that's a combination of both, material recovery, and also 80/20. In some cases, fairly even split. In addition to everything Neil said, you know, financially, big elements of early pricing, and as Neil pointed out, CIS last quarter was an early adopter, doubling earnings Q4 year-over-year, record 14% EBITDA margins exceeding what we thought they could do. It is a good indicator of what we see the potential for 80/20 at Modine. Any other questions? Okay. If there's no further questions, I really appreciate your time t hanks everybody for coming out today. Thank you. Thank you.