Slides
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Baird 2025 Global Industrial Conference November 11, 2025
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2 Forward Looking Statements & Non-GAAP Financial Measures Certain statements included in this presentation and the oral remarks made in connection herewith are “forward-looking statements” within the meaning of the U.S. federal securities laws. All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: anticipated financial results, outlook or guidance, assumptions underlying such outlook or guidance (including the effects of tariffs and our ability to offset them and the effects of seasonality); cash flows, the Company’s liquidity position or other financial measures; management’s plans and strategies for future operations and growth, including statements relating to anticipated operating performance, cost reductions and savings initiatives, restructuring activities, new product and service developments, customer demand, competitive strengths or market position, acquisitions, divestitures, strategic opportunities, shareholder value creation, capital allocation priorities, stock repurchases and dividends; the effects of the separation from Fortive on the Company; growth, declines and other trends in markets the Company sells into, including the expected impact of trade and tariff policies; changes in government contracting requirements and reductions in federal spending; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; tax rates, tax provisions, and the impact of changes to tax laws; general economic and capital markets conditions, including expected impact of inflation or interest rate changes; impact of geopolitical events and other hostilities; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that the Company intends or believes will or may occur in the future. Terminology such as “believe”, “expect”, “anticipate”, “forecast”, “positioned”, “intend”, “plan”, “project”, “estimate”, “grow”, “will”, “should”, “could”, “would”, “may”, “strategy”, “opportunity”, “possible”, “potential”, “outlook”, “assumptions”, “target”, and “guidance” and similar references to future periods are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Forward-looking statements are based on assumptions and assessments made by management of the Company in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the risks and uncertainties set forth under “Cautionary Statement Concerning Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Information Statement filed as an exhibit to the Company’s Form 10-12B/A with the U.S. Securities and Exchange Commission (the “SEC”) on May 28, 2025, and under “Information Relating to Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Quarterly Reports on Form 10-Q filed with the SEC on August 11, 2025, and filed on November 6, 2025. Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by the Company’s forward- looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Forward-looking statements speak only as of the date of the document or other communication in which they are made (or such earlier date as may be specified in such statement). Ralliant assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise. This presentation contains references to financial measures not presented in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company has not reconciled the forward- looking statements regarding non-GAAP measures for "adjusted EBITDA margin" (including segment adjusted EBITDA margin), "free cash flow," "free cash flow conversion," or "Net Leverage" because we are unable to do so without unreasonable efforts or to reasonably estimate the projected outcome of certain significant items, including currency impacts, impacts of acquisitions and divestitures and similar adjustments. Non-GAAP Financial Measures
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2025 INVESTOR DAY TAMI NEWCOMBE President and Chief Executive Officer
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4 Our Precision Technologies Create Confidence… ALT OPTION What we do We deliver instruments, sensors & safety systems for applications where accuracy, reliability, and safety matter. Why it matters Precision creates confidence for the innovators, scientists, and engineers we empower. Who we serve We serve customers designing mission critical systems in demanding environments like utilities, aerospace, defense, electronics, and industrial manufacturing. What sets us apart Our people-first culture, precision expertise and the Ralliant Business System together drive growth and productivity.
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BY THE NUMBERS1 ~7K Team Members 21 Manufacturing Sites ~90K Customers FLAGSHIPS BRANDS REVENUES BY SEGMENT AND END MARKET1 5 19% Industrial Manufacturing 16% Defense & Space 13% Utilities 9% Other2 9% Semiconductor 13% Communications 22% Diversified Electronics3 Ralliant Portfolio1 THROUGH-CYCLE FINANCIAL TARGETS2 ~2.2K Active Patents Test & Measurement Segment ~40% We are Ralliant: A Premier Player in Precision Technologies Sensors & Safety Systems ~60% $2B+ Revenue Low to Mid-20s Adj. EBITDA Margin 95%+ FCF Conversion 3-5% Revenue Growth 1.5X – 2.0x Net Leverage3 1.2024 as reported financials. 2. The Company has not reconciled the forward-looking statements regarding non-GAAP measures because we are unable to do so without unreasonable efforts or to reasonably estimate the projected outcome of certain significant items, including currency impacts, impacts of acquisitions and divestitures and similar adjustments; 3. Net debt to TTM Adj. EBITDA as defined by the Company’s credit facility
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9% Other2 13% Utilities 16% Defense & Space SENSORS & SAFETY SYSTEMS 1. 2024 as reported financials. Percentages may not foot due to rounding. 2. Other includes Food and Beverage, Healthcare, and HVAC. 3. Diversified Electronics includes Industrial, Consumer, Automotive, Medical, Education, and General Purpose. 22% Diversified Electronics3 13% Communications Our advanced sensors deliver actionable data and insights that proactively monitor performance and anticipate issues across critical systems maximizing uptime, efficient operations, and safety. Our safety technologies deliver uncompromising timing and accuracy for equipment and systems in mission-critical environments safeguarding lives and billions of dollars of investment. Made by engineers, for engineers, our precision instruments, software, and services measure, monitor, and analyze system performance, ensuring reliability and safety TEST & MEASUREMENT 100+ Years of Innovation: Ralliant Business Segments Overview 6 9% Semiconductor ~60% of revenue1 ~40% of revenue1 19% Industrial Manufacturing
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7 01 RBS Everywhere 02 Stronghold Positions 03 Winning Growth Vectors Continue the operating discipline across our portfolio to drive scale, efficiency, and profitability Provide ongoing roadmap of precision technologies solutions for our loyal customers Expand portfolio aligned to secular growth drivers ▪ Defense technologies ▪ Grid modernization ▪ Electrification Our Growth Strategy
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Winning Growth Vectors Expand portfolio aligned to secular growth vectors ▪ Defense technologies ▪ Grid modernization ▪ Electrification Growth Vector: Defense Technologies Delivering mission-critical safety systems and solutions for Defense & Space KEY APPLICATIONS ▪ Ground Safety ▪ Launch Safety ▪ Flight Safety OUR CUSTOMERS ▪ Defense Primes ▪ Space Exploration Programs ▪ DOD Agencies ▪ Commercial Aviation Players SPACE ADVANCEMENTS AND COMMUNICATIONS GEOPOLITICAL ENVIRONMENT DEFENSE MODERNIZATION
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Winning Growth Vectors Expand portfolio aligned to secular growth vectors ▪ Defense technologies ▪ Grid modernization ▪ Electrification Growth Vector: Grid Modernization Delivering essential and reliable grid solutions for Utilities KEY APPLICATIONS Monitoring of: ▪ Generation ▪ Transmission ▪ Distribution OUR CUSTOMERS ▪ Utility Providers ▪ OEMs AGING GRID INFRASTRUCTURE INCREASING POWER DEMAND NEW ENERGY SOURCES
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Winning Growth Vectors Expand portfolio aligned to secular growth vectors ▪ Defense technologies ▪ Grid modernization ▪ Electrification Growth Vector: Electrification Delivering measurement insights to engineers innovating in advanced electronics KEY APPLICATIONS ▪ Semiconductor ▪ Communication ▪ Power Electronics OUR CUSTOMERS ▪ Automotive ▪ Consumer Electronics ▪ Education & Research ▪ Semi ▪ Industrial & Utilities ▪ Medical ▪ Aerospace & Defense ▪ Data Center & Network INTELLIGENT EDGE ENERGY RESILIENCE INTELLIGENCE INFRASTRUCTURE
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11 Clear Financial Priorities to Drive Value Creation CONSISTENT EARNINGS GROWTH AND SHAREHOLDER RETURNS R E T U R N S Return capital to shareholders and invest in growth vectors Disciplined Capital Allocation F R E E C A S H F L O W Generate >$1B of cumulative FCF through 20281 Strong and Durable Free Cash Flow P R O F I TA B I L I T Y Through cycle Adj. EBITDA margin: Ralliant1: Low-to-Mid-20s S&SS Segment: High-20s T&M Segment: Mid-Teens to Low-20s Adj. EBITDA Growth Faster than Revenue 3-5% G R O W T H through cycle revenue growth LT GROWTH TARGETS Revenue Growth Extension 1. The Company has not reconciled the forward-looking statements regarding non-GAAP measures because we are unable to do so without unreasonable efforts or to reasonably estimate the projected outcome of certain significant items, including currency impacts, impacts of acquisitions and divestitures and similar adjustments
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Built for Precision