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1 nVent Third Quarter 2026Earnings PresentationOctober 30, 2026
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2Q3 ’26 Earnings Presentation Forward-Looking Statement and Key DefinitionsCaution Concerning Forward-Looking StatementsThis presentation contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “could,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this presentation are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these factors are adverse effects on our business operations or financial results, including the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the Maverick Power acquisition; competition and pricing pressures in the markets we serve; the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses; risks associated with or arising from military conflicts; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this presentation. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.Key Definitions and NotesExcept as otherwise noted, all references to 2026 and 2025 represent our results for the period indicated, presented on an adjusted basis. “Organic Sales” refers to GAAP revenue excluding (1) the impact of currency translation and (2) the impact of revenue from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales attributable to divested product lines not considered discontinued operations. Reportable segment income (“segment income”) represents operating income of each reportable segment exclusive of intangible amortization, acquisition related expenses, costs of restructuring activities, impairments and other unusual non-operating items. Adjusted operating income represents consolidated operating income exclusive of intangible amortization, acquisition related expenses, costs of restructuring activities, impairments and other unusual non-operating items. Return on sales (“ROS”) equals segment income divided by segment net sales or, on a consolidated basis, adjusted operating income divided by total net sales.Continuing OperationsAll results referenced throughout this presentation are on a continuing operations basis unless otherwise stated.
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3 Delivered record quarterly sales of $1.5B, up 44%, and adjusted EPS of $1.52, up 67%; well ahead of guidanceRaising full-year sales and EPS guidanceRecord orders, grew low double digits; backlog grew sequentially to $2.6BBroad-based growth across all verticals and geographiesCompleted acquisition of Maverick Power, a new power distribution platform Record YTD performance and well-positioned for continued strong growthQ3 ’26 Earnings Presentation Key Messages
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4On track for another record yearQ3 ’26 Earnings Presentation Q3 SummaryRecord quarterly sales of $1.5 billion, up 44% both reported and organicallyAdjusted operating income of $335 million, up 57%; ROS of 22.1%, up 190 bps year-over-yearAdjusted EPS of $1.52, up 67% Free cash flow generation of $268 million, up 6% Q3 2026Electrification, sustainability and digitalization secular trends expected to drive demand Infrastructure vertical expected to lead with strong growth in data centers and power utilitiesMore focused, higher growth electrical company driven by high-growth verticals and new productsDouble digit organic growth in all verticals, led by InfrastructureDouble digit organic growth in all geographies, led by AmericasLow double digit organic orders growth; $2.6 billion in backlog, up sequentiallyNew products contributed ~30 points to sales growth Q3Highlights 2026Trends
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5Strong financial performance with broad-based growthQ3 ’26 Earnings Presentation Q3 2026 nVent PerformanceSales up 44%-FX flatAdjusted operating income up 57%-ROS of 22.1%, up 190 bps YoY-Price and productivity offset inflation-Continued investments for growth Sales ($M)Adjusted Operating Income ($M)Financial Highlights (YoY)Q3 2025 Q3 2026$1,054$1,515Free cash flow of $268M, up 6%Other items-Adjusted tax rate of ~22%-Adjusted net interest expense of $15M-Shares of ~164M Adjusted EPSQ3 2025 Q3 2026$213$335Q3 2025 Q3 2026$0.91$1.52+44%Organic
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6Broad-based growth across all verticals and geographiesQ3 ’26 Earnings Presentation Q3 2026 Segment PerformanceDouble digit organic growth in all verticals, led by InfrastructureStrong sales growth in data centersOrganic sales growth in all geographies, led by AmericasROS expansion from strong executionDouble digit organic growth in all verticals, led by InfrastructureStrong sales growth in data centers and power utilitiesOrganic sales growth in all geographies, led by AmericasROS impacted by inflation and investments, sequential ROS improvement Systems ProtectionElectrical Connections ($M)$1,098Up 53%Up 54% organic$253Up 73%ROS 23.0% (+260 bps)$417Up 23%Up 23% organic$118Up 16%ROS 28.2% (-180 bps)Sales Segment IncomeCommentary+++++++–+
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7 Balance Sheet and Cash FlowCash balance of $1,122MQ3 2026 D&A of $54M$600M available on revolverYTD2026Q32026558$202$Net Income11836Amortization676$238$Subtotal5218Depreciation(95)(37)Capital Expenditures(186)34 Working Capital4215Other489$268$Free Cash FlowYTD2026Q320261,568$1,500$Beginning Debt(489)(268)Used (Generated) Cash10050Share Repurchases10234Dividends628 699Debt Borrowings (Repayments)288182Change in Cash / Other2,197$2,197$Ending Debt Cash Flow ($M)Debt Rollforward ($M)Q3 ’26 Earnings PresentationDebt and cash balances are as of September 30, 2026, and do not reflect the closing of the Maverick Power transaction on October 1, 2026, including $850M in additional debt. $2,100$97Q3 ’26$2,197Weighted Average Rate ~5%4% Variable96% Fixed$500 @ 2028$300 @ 2031$500 @ 2033$800 @ 2036Maturity2030Note: Does not include $1,122 of cash on hand at quarter-end and $15 of unamortized debt issuance costsDebt Summary ($M) Maverick Power acquisition closed on October 1st
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8Full-year capex of ~$140 million, up ~50%Investing for growth and supply chain resiliencyLaunched 49 new products YTDTarget of 2.0X to 2.5X net debt to adj. EBITDAMaintain investment grade metricsStrong liquidity positionReinvest in the business Q3 ’26 Earnings Presentation Capital Allocation UpdateAcquisitions a top priorityTarget ROIC > WACC within 3 yearsClosed Maverick Power acquisition October 1stReturned $202 million in cash to shareholders YTDRepurchased $100 million of shares YTDIncreased dividend YoY; $102 million YTDManage LeverageM&AReturn Cash to Shareholders Disciplined capital allocation focused on growth and returning cash to shareholders
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9Significantly raising full-year guidance, expecting another record yearQ3 ’26 Earnings Presentation*This updated guidance does not include amortization related to the acquisition of Maverick Power 2026 nVent Outlook Sales Adjusted EPS Cash Other ItemsUp 37% to 39% reportedUp 32% to 34% organic$5.00 to $5.10Up 49% to 52%90-95% of adj. net incomeNet interest expense: ~$65MTax rate: ~22%Shares: ~164MSecular tailwinds in electrification, sustainability and digitalizationPrice and productivity offsetting inflation, including tariffsStrong backlogs in data centers and power utilitiesInvestments in new products, capacity and digitalAcquisitions add ~10% to sales growth; FX flatCorporate costs ~$145M vs. ~$140M previouslyIncremental tariff impact ~$105M vs. ~$100M previouslyCapex ~$140M vs. ~$130M previouslyDepreciation and amortization ~$230M*Previous GuidancenVent Expected DriversModeling AssumptionsUpdated GuidanceUp 48% to 49% reportedUp 38% to 39% organic$5.36 to $5.39Up 60% to 61%No changeAdj. net interest expense: ~$88MTax rate: ~22%Shares: ~164M
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10Expecting a strong Q4Q3 ’26 Earnings Presentation Q4 2026 nVent Outlook Acquisitions to add ~19 points to sales growth; FX flatPrice and productivity offsetting inflation, including tariffsContinued investments in data centers and power utilities for growth$1,067MUp 45% to 48%Reported sales24%Up 26% to 29%Organic sales$0.71$1.13 to $1.16EPS (reported)$0.90$1.30 to $1.33EPS (adjusted)~22%Tax Rate~$39MNet interest expense~164MSharesQ4 ’26 Q4 ’25 Other ItemsExpected Drivers
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11 nVent Portfolio Transformation Total opportunity expanded from ~$60B to >$150BYTD 2026 Vertical MixInfrastructure: 58%Industrial: 24%Comm/Resi: 18% Data CentersData CentersIndustrial Commercial & InfrastructureIndustrial 20192020202120242023Renewables2025Power Utilities, Data Centers, RenewablesThermal ManagementDivestitureElectrical Products GroupStrong, consistent track record of M&A and value creationPower Utilities, Data Centers, Renewables Q3 ’26 Earnings2025 Industrial includes 2 percentage points from Energy verticalOpportunity analysis is based on nVent internal estimates26%Commercial/ResiIndustrial46%12%16%InfrastructureEnergy$2BAt-Spin Sales32%IndustrialInfrastructure45%23%Commercial/Resi$4B2025 Sales2026 Data Centers
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12nVent’s total data center opportunity expands to ~$2M / MW with Maverick Power Maverick Power AcquisitionBroadens nVent’s exposure to the high-growth Infrastructure vertical, particularly data centersPortfolio complements nVent’s current data center offeringExpands nVent’s offerings for new power architectures, including 800 VDC, and system level solutions and services for data centersStrategic Fit Q3 ’26 Earnings Presentation*Estimated full-year 2026. Opportunity analysis is based on nVent internal estimates Company OverviewMaverick Power is a leading manufacturer of engineered power distribution and infrastructure solutions for data centers1,000+ employees, with key sites in Texas and ArizonaAnnual revenue*: ~$700MManufacturing footprint: ~1.5M sq. ft.Product Offering Low-voltage switchgear and switchboardsMedium-voltage switchgearIntegrated modular solutionsServices
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13 SummaryRecord sales, orders and adjusted EPS in Q3Broad-based growth with Infrastructure leading the wayExpecting continued strong growth in Q4 Well-positioned with electrification, sustainability and digitalization trendsQ3 ’26 Earnings Presentation
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14 14 Appendix andGAAP to Non-GAAP Measurements & Reconciliations
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15Q3 ’26 Earnings Presentation Reported to Adjusted 2026 ReconciliationIn millions, except per-share dataFirst Quarter Second Quarter Third QuarterFourth Quarter Full YearNet sales 1,242.0$ 1,471.3$ 1,514.9$ Net income from continuing operations 140.4 215.8 202.4 Provision for income taxes 36.5 66.2 57.7 Income before income taxes 176.9 282.0 260.1 Other expense 1.3 1.3 1.2 Net interest expense17.5 17.4 21.0 Operating income 195.7$ 300.7$ 282.3$ % of net sales 15.8% 20.4% 18.6%Adjustments:Restructuring and other 8.9$ 2.0$ 3.1$ Acquisition transaction and integration costs 2.8 4.7 10.1 Intangible amortization 41.1 41.1 36.3 IEEPA tariffs - (25.8) 3.6 Adjusted operating income (non-GAAP measure) 248.5$ 322.7$ 335.4$ Adjusted return on sales (non-GAAP measure)20.0%21.9%22.1%Adjusted operating income (non-GAAP measure) 248.5$ 322.7$ 335.4$ Depreciation 16.8 17.4 17.9 Adjusted EBITDA (non-GAAP measure) 265.3$ 340.1$ 353.3$ Adjusted EBITDA Margin (non-GAAP measure) 21.4% 23.1% 23.3%Net income from continuing operations 140.4$ 215.8$ 202.4$ 188$ 747$ Adjustments to operating income 52.8 22.0 53.1 36 164 Amortization of bridge financing debt issuance costs - - 6.0 - 6 (14.0) (0.6) (12.5) (8) (35) Adjusted net income from continuing operations (non-GAAP measure)179.2$ 237.2$ 249.0$ 216$ 882$ Diluted earnings per ordinary shareDiluted earnings per ordinary share 0.86$ 1.32$ 1.23$ $1.13 - $1.16 $4.54 - $4.57Adjustments 0.23 0.13 0.29 0.17 0.82 Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure)1.09$ 1.45$ 1.52$ $1.30 - $1.33 $5.36 - $5.39 nVent Electric plcReconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ending December 31, 2026excluding the effect of adjustments (Unaudited)Income tax adjustments(1) Forecast information represents an approximation Forecast (1) Actual
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16Q3 ’26 Earnings Presentation Reported to Adjusted 2025 ReconciliationIn millions, except per-share dataFirst QuarterSecond Quarter Third Quarter Fourth Quarter Full YearNet sales 809.3$ 963.1$ 1,054.0$ 1,066.7$ 3,893.1$ Net income from continuing operations 87.0 106.7 119.0 115.8 428.5 Provision for income taxes 24.5 31.3 25.2 40.5 121.5 Income before income taxes 111.5 138.0 144.2 156.3 550.0 Other expense 1.1 1.1 1.2 (11.6) (8.2) Net interest expense17.4 17.6 20.9 19.1 75.0 Operating income 130.0 156.7 166.3 163.8 616.8 % of net sales 16.1% 16.3% 15.8% 15.4% 15.8%Adjustments:Restructuring and other 0.9$ 3.1$ 2.7$ 0.8$ 7.5$ Acquisition transaction and integration costs 3.1 4.3 2.4 4.6 14.4 Intangible amortization 28.2 35.9 41.9 41.1 147.1 Adjusted operating income (non-GAAP measure) 162.2$ 200.0$ 213.3$ 210.3$ 785.8$ Adjusted return on sales (non-GAAP measure) 20.0% 20.8% 20.2% 19.7% 20.2%Adjusted operating income (non-GAAP measure) 162.2$ 200.0$ 213.3$ 210.3$ 785.8$ Depreciation 13.8 14.4 16.8 15.7 60.7 Adjusted EBITDA (non-GAAP measure) 176.0$ 214.4$ 230.1$ 226.0$ 846.5$ Adjusted EBITDA Margin (non-GAAP measure) 21.7% 22.3% 21.8% 21.2% 21.7%Net income from continuing operations 87.0$ 106.7$ 119.0$ 115.8$ 428.5$ Adjustments to operating income 32.2 43.3 47.0 46.5 169.0 Pension and other post-retirement mark-to-market gain - - - (12.9) (12.9) (7.1) (9.4) (16.8) (1.3) (33.8) Adjusted net income from continuing operations (non-GAAP measure) 112.1$ 140.6$ 149.2$ 1.2$ 550.8$ Diluted earnings per ordinary shareDiluted earnings per ordinary share 0.52$ 0.65$ 0.73$ 0.71$ 2.60$ Adjustments 0.15 0.21 0.18 0.19 0.75 Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure)0.67$ 0.86$ 0.91$ 0.01$ 3.35$ nVent Electric plcReconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ended December 31, 2025excluding the effect of adjustments (Unaudited)Income tax adjustments
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17Q3 ’26 Earnings Presentation Organic Sales Growth and Free Cash Flow ReconciliationOrganic CurrencyAcq./Div.TotalnVent 43.9% (0.2%) —% 43.7%Systems Protection 53.7% (0.3%) —% 53.4%Electrical Connections 23.2% —% —% 23.2%Organic CurrencyAcq./Div.Total Organic CurrencyAcq./Div.TotalnVent 26 - 29%—%19% 45 - 48% 38 - 39%—%10% 48 - 49%In millionsNet cash provided by (used for) operating activities of continuing operationsCapital expendituresProceeds from sale of property and equipmentFree cash flow (non-GAAP measure)(1) Forecast information represents an approximationReconciliation of Net Sales Growth (GAAP measure) to Organic Net Sales Growth (non-GAAP measure) for the quarter and year ending December 31, 2026 (Unaudited)Forecast (1)Nine months endednVent Electric plcReconciliation of Net Sales Growth (GAAP measure) to Organic Net Sales Growth (non-GAAP measure) by Segmentfor the quarter ended September 30, 2026 (Unaudited)Q4 Net Sales Growth Full Year Net Sales GrowthQ3 Net Sales Growth1.7 1.7 489.0$ 371.7$ Reconciliation of cash from operating activities to free cash flow (Unaudited)September 30, 2026 September 30, 2025581.9$ 426.6$ (94.6) (56.6) Three months endedSeptember 30, 2026 September 30, 2025303.2$ 271.7$ (37.0) (18.6) 1.7 0.1 267.9$ 253.2$