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2025 INVESTOR DAY Ralliant Investor Day JUNE 10, 2025
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2025 INVESTOR DAY Welcome and Opening Remarks NATHAN MCCURREN Vice President, Investor Relations
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2025 INVESTOR DAY 3 Forward-Looking Statements 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: business outlook and priorities; future financial performance and results, including outlook and guidance; revenue growth; cash flows, our liquidity position or other financial measures; management’s plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions, divestitures, strategic opportunities, shareholder value creation, capital allocation, stock repurchases, dividends; the effects of the separation or the distribution, if consummated, on our business; growth, declines and other trends in markets we sell 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 we intend or believe 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”, “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 our management 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” within Ralliant’s Form 10 filed with the U.S. Securities and Exchange Commission (“SEC”) on May 5, 2025 (including the amendments thereto), and in other documents that we have filed with, or furnished to, the SEC. Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by our 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 they are made (or such earlier date as may be specified in such statement). Except to the extent required by applicable law, 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.
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2025 INVESTOR DAY 4 Basis of Presentation The financial information accompanying these materials presents certain results of Ralliant Corporation (the “Company” , “Ralliant” , “we” , “us” , or “our”) for fiscal years 2019 through 2024 and is derived from Fortive Corporation’s historical audited financial statements, presented on a carve out basis. Financial information pertaining to fiscal years 2022, 2023, and 2024 is audited and financial information pertaining to fiscal years prior to 2022 is unaudited. The unaudited financial information is included to provide investors with additional historical information. Carve out adjustments represent Fortive Corporation’s Precision Technology segment financial information adjusted for items that reflect Ralliant as a standalone company in accordance with generally accepted accounting principles in the United States ("GAAP"). Additionally, unless otherwise stated, the financial information contained herein does not include stand-alone public company costs, which are estimated to be approximately $46 million on a pre-tax, annualized basis. Non-GAAP Financial Measures This presentation and the oral remarks made in connection herewith contain financial information that is not presented in accordance with GAAP , including, but not limited to, “organic revenue growth” , “adjusted EBITDA , “adjusted EBITDA margin" , “free cash flow" , "free cash flow conversion, "free cash flow margin" , and “net leverage” . 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. Please refer to the Appendix of this presentation for reconciliations of such historical non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP .
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2025 INVESTOR DAY 5 Today’s Agenda 11:35 am Financial Overview Neill Reynolds | CFO 11:55 am Q&A Session 12:25 pm Closing Remarks Tami Newcombe | CEO 10:05 am Welcome and Opening Remarks Nathan McCurren | VP , Investor Relations Introduction and Strategic Overview Tami Newcombe | CEO Spotlight Segments Test and Measurement Segment Growth Vector Spotlight: Power Electronics Chris Bohn | President, Tektronix Sensors and Safety Systems Segment Growth Vector Spotlight: Defense Technologies Corey Christmann | President, PacSci EMC Growth Vector Spotlight: Grid Modernization Andrew McCauley | President, Sensor Systems 2025 INVESTOR DAY
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We are Ralliant Our precision technologies create the confidence to break through every day. O U R P U R P O S E T O G E T H E R W E : F O R O U R P E O P L E , C U S T O M E R S , A N D S H A R E H O L D E R S Win as one team Solve problems Learn by doing Unlock growth Own our future Ralliant Inspired by ‘rally’ and ‘valiant’ — capturing how we come together to push boundaries, drive innovation, and shape what’s next. www.ralliant.com NYSE: RAL 2025 INVESTOR DAY 6
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2025 INVESTOR DAY Introduction and Strategic Overview TAMI NEWCOMBE Chief Executive Officer
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2025 INVESTOR DAY Key Messages 8 Precision Technologies Leader. Attractive Markets. Long Runway. 2 Premier player in precision technologies; decades of customer trust and extensive installed base 3 Top-tier Adjusted EBITDA growth and durable free cash flow powered by our proven execution 5 Disciplined capital allocation strategy to maximize shareholder value 1 Energized leadership and high-performance culture connected by the Ralliant Business System 4 Clear growth vectors; well- positioned to win in key markets aligned to long-term secular trends Separation from Fortive expected to be completed on June 28, 2025
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2025 INVESTOR DAY Experienced, energized executive team • Mix of Fortive and new (63% / 37%) • Industrial plus technology, blue-chip, Fortune 500 experience 9 Excited to Introduce the Ralliant Leadership Team Today’s speakers 2025 INVESTOR DAY Tami Newcombe Chief Executive Officer ~30 years experience: Fortive (~9 years), Cisco, Analog Devices, IBM Neill Reynolds Chief Financial Officer ~30 years experience: Wolfspeed, NXP , AMD, General Electric Karen Bick Chief People Officer ~30 years experience: Fortive (~5 years), Stryker, Bristol-Myers Squibb, Popular Bank Jeb Boatman Chief Legal Officer ~20 years experience: Fortive (<1 year), Activision Blizzard, Boeing, U.S. Department of Justice Amir Kazmi Chief Technology and Growth Officer ~20 years experience: Fortive (<1 year), WestRock, Lockheed Martin, Kuprion Chris Bohn President | Tektronix ~25 years experience: Fortive (~9 years), Danaher Corey Christmann President | PacSci EMC ~30 years experience: Fortive (~9 years), Danaher, General Electric Andrew McCauley President | Sensor Systems ~30 years experience: Fortive (~9 years), Danaher, Pacific Scientific
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2025 INVESTOR DAY 10 Strategic Oversight with Seasoned Board Nominees 2025 INVESTOR DAY Neil Schrimsher President and Chief Executive Officer, Applied Industrial Technologies Anelise Sacks EVP , Chief Customer Officer, Analog Devices (Former) Brian Worrell Chief Financial Officer, Baker Hughes (Former) Alan Spoon Managing General Partner, Polaris Partners (Former) and President, The Washington Post (Former) Luis Müller President and Chief Executive Officer, Cohu Tami Newcombe President and Chief Executive Officer, Ralliant Ganesh Moorthy Independent Board Chair Nominee, Chief Executive Officer, Microchip Technology (Former) Kate Mitchell Partner and Co-founder, Scale Venture Partners Kevin Bryant EVP , External Affairs and Chief Strategy Officer, Southwest Power Pool Broad leadership experience • Technology, Semiconductor, Utilities, Industrials, and PE / VC markets • Public / private company experience globally across strategy, operations, customer experience, product, sales, and finance
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2025 INVESTOR DAY 11 Strategic Evolution and Scaling Over Past 5 Years… Precision Technologies Formed; Initial Focus on Profitability Sharpened Growth Strategy; Prepared to Go Public Increased Focus on Innovation & Efficiency ✓ Reshaped portfolio around precision T&M, sensors, and safety systems ✓ Refined price realization toolkit ✓ Reprioritized R&D spend; replenished innovation ✓ Hand selected leaders with growth mindset ✓ Created customer innovation framework ✓ Architected engineering product platforms ✓ Invested in dedicated AI / digital skills ✓ Clarified profitable growth strategy ✓ Bolstered executive leadership team ✓ Simplified the Ralliant Business System ✓ Redefined M&A strategy to focus on tuck-ins 2024 2019
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2025 INVESTOR DAY 12 …Has Delivered Results Way Paved for Continued Momentum as Standalone Company 82% Inclusion & Belonging 2024 81% Leader Effectiveness 2019 71% Internal Fill Rate Strong Employee Culture : Note: Revenue CAGR trailing 5 years; Adj. EBITDA Margin and SAM are as of the year shown. 1. Based on external market researc h and Company estimates. 2. Metrics based on most recent employee surveys. Flat Revenue Growth LSD+ Low 20s Adj. EBITDA Margin Mid 20s ~$12B Serviceable Addressable Market (SAM)1 ~$16B 2
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2025 INVESTOR DAY 13 We Are Ralliant 1. CAGRs and cumulative figures represent periods from 2019-2024; margin metrics calculated as a percentage of revenue. 2. Reocc urring revenue consists of services and long-term defense contracts. Diversified Global Technology Company $2.2B Revenue 3.5% Revenue CAGR 25.7% Adj. EBITDA Margin 8.7% Adj. EBITDA CAGR ~$2.0B Cumulative FCF 25% Reoccurring Revenue2 2024 FINANCIAL SNAPSHOT 1 2024 SALES BY SEGMENT Sensors and Safety Systems 56% Test and Measurement 44% ~20% FCF Margin 3.2% Organic Revenue CAGR 2024 SALES BY REGIONS N. America 53% W. Europe 15% RoW 17% China 15%
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2025 INVESTOR DAY 14 Segment Overview United by Precision Sensors, Safety Systems, and Test & Measurement RALLIANT PORTFOLIO 1 Sensors and Safety Systems 56% of revenue1 Defense & Space 16% Other2 9% Power grid monitoring solutions, defense and space technology, and industrial sensors for demanding environments where uptime, precision, and reliability are non-negotiable 9% Semiconductor Precision instruments, software, and services essential to the future of electronics, communications, and energy storage systems Test and Measurement 44% of revenue1 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. Industrial Manufacturing 19% Utilities 13% 22% Diversified Electronics3 13% Communications
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2025 INVESTOR DAY 15 Premier player in precision technologies Why We’re Built to Outperform:
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2025 INVESTOR DAY Trusted by Innovators — Global Enterprises to Start-Ups Serving Innovation Leaders on the Edge of Technology… 16 OUR CUSTOMERS ARE LEADERS ACROSS: • Hyperscalers / Datacenter • Semiconductor Design and Fabrication • E-mobility • Consumer Electronics • Universities / Research Labs • Utilities • Power Grid Digitization • Defense Primes • Industrial Automation • Process Industries • MedTech and Healthcare • Lifesciences 90K Customers globally 14M+ Installed specialty sensors and grid monitoring solutions1 1.5K+ Successful pilot emergency ejections 1.5M+ Active test and measurement instruments in labs1 1. Based on units sold in last 15 years. Actual working units in customers’ environments are likely higher.
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2025 INVESTOR DAY 17 …Powering Mission Critical Systems in the Most Demanding Environments… …using our high-power bi-directional power supplies and electric loads …with our high precision and reliable grid monitoring solutions …with our high voltage safety ignition systems Testing hydrogen fuel cell technology… Monitoring health of a power transformer 24/7… Ensuring safety at launch, ascent, and beyond… Where Reliability and Precision Matter
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2025 INVESTOR DAY …Supported by 100+ Years of Innovation… 18 Competitively Advantaged in Precision Technologies Differentiated Capabilities • Proprietary engineering and manufacturing • Culture that attracts top engineers, scientists, and technicians • Custom-designed integrated circuits enabled by robust supply chain • Valuable application expertise transferred through application and use case experts 15 Global R&D Centers 2,200+ Active Patents 1,400+ Engineers Globally
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2025 INVESTOR DAY 19 …And a Strategically Positioned Global Network Asia 2 Manufacturing Locations EMEA 6 Manufacturing Locations New Headquarters – Raleigh, NC U.S.-West 3 Manufacturing Locations U.S.-East 9 Manufacturing Locations 90K Customers Served 21 Manufacturing Locations Loyal channel partners and system integrators with long tenure of relationships Direct sales and technical support for customer partnership Local-for-local sales, service, R&D, and manufacturing Extensive customer installed base for expanding within existing footprints 1,300 Asia Team 1,500 EMEA Team 4,100 Americas Team Countries with Direct Operations Note: All figures as of May 31, 2025. 15 R&D Centers South America 1 Manufacturing Location
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2025 INVESTOR DAY 20 Proven execution Why We’re Built to Outperform:
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2025 INVESTOR DAY 21 Our Culture Powers How We Show Up, Work, and Win Together Our Culture is Evolving, Not by Chance But by Design • Engrained in a legacy of tackling tough challenges • Problem-solving DNA will always be part of our story • Relentless focus on continuous improvement • Evolving into a new chapter while honoring from where we came Ralliant Leadership Team Leadership Shapes Our Future
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2025 INVESTOR DAY We Are Impact Makers Empowered with the tools and opportunities to make an impact every day O U R P U R P O S E Our precision technologies create the confidence to break through every day O U R P EO P L E Team players with the curiosity, ownership, and grit to achieve excellence together 22
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2025 INVESTOR DAY 23 Ralliant Business System (RBS) RBS Delivers Sustainable Business Results What it is It’s how we turn our strategy into execution through common language, cadence, proven tools, and a continuous improvement mindset How it helps us win Every employee has the tools and opportunities to make an impact every day STRATEGY EXECUTION Culture & People Business Cadence Innovation & Commercial Lean & Productivity
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2025 INVESTOR DAY 24 Unlocking Growth and Driving Operational Breakthroughs RBS Driving Innovation and Productivity Operational ImprovementGrowth & Innovation New Products Productivity Gains 2x new product introductions (NPI) this year compared to historical average ~15% increase in revenue per employee through productivity focus across functions Capital Efficiency Enterprise Scale Net working capital <10% of revenue consistently for last 5 years 500+ people driving growth and productivity breakthroughs during President Kaizen week Note: Improvements correspond to 2019-2024 period.
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2025 INVESTOR DAY $361M $433M $420M 2022 2023 2024 25 Through-Cycle Execution RBS Powered Durable Free Cash Flow through the Cycle Resilient free cash flow with consistent 95%+ conversion through customer investment cycle despite growth deceleration Free Cash Flow FCF Conversion 97% 104% 119% YOY Revenue Growth 10.2% 3.2% 0.0%
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2025 INVESTOR DAY Our Downcycle Playbook 26 Navigating through Cycles with RBS HOW WE DO IT: New Products Channel ProgramsRevenue Illustrative down-year based on last 5 years • Disciplined operating accountability • Operating expense, headcount, and working capital informed by monthly orders trends • Channel motivation programs • Supply chain savings targets • Price leakage identification and reduction • Dynamic resource allocation • Performance-based incentives SHORT -TERM LEVERS • Continued automation and productivity • AI enabled R&D efficiency • Digital customer experience go-to-market • Price realization tied to customer value creation • Operating leverage (fixed vs. variable) LONG -TERM COMMITMENTS Adj. EBITDA Margins R&D Efficiency NPI R&D Sales Productivity G&A Leverage Free Cash Flow Capex ~2% NWC <10% percentage of revenue Supply Chain Savings Price RealizationGross Margins
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2025 INVESTOR DAY 27 Well-positioned for profitable growth Why We’re Built to Outperform:
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2025 INVESTOR DAY 28 Introducing Our Profitable Growth Strategy Continued Durable FCF and Enhanced Growth through the Cycle RBS Everywhere Continue the operating discipline across our portfolio to drive scale, efficiency, and profitability 1 Winning Growth Vectors Expand portfolio aligned to secular growth drivers 3 Stronghold Positions Provide ongoing roadmap of precision technologies solutions for our loyal customers 2
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2025 INVESTOR DAY 29 Profitable Growth Strategy Continue the operating discipline across our portfolio to drive scale, efficiency, and profitability 1 RBS Everywhere • SG&A: Augmenting RBS toolkit with AI and digital / automation technologies to enhance productivity • R&D: Continuing customer-centric innovation and platform approach to drive velocity and engineering efficiency • Operations: Optimizing manufacturing capability, supply chain resilience, and improving working capital
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2025 INVESTOR DAY 30 Profitable Growth Strategy • Refresh the Installed Base: Upgrade legacy systems to maintain customer relevance and unlock upsell opportunities • Leverage Global Channels: Utilize our established global network to scale efficiently and penetrate new markets • Expand Lifecycle Services: Increase service offerings to deepen customer relationships Provide ongoing roadmap of precision technologies solutions for our loyal customers 2 Stronghold Positions
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2025 INVESTOR DAY 31 Profitable Growth Strategy • Innovation and R&D: Invest in new products that address evolving market needs • Value-Add Solutions: Deliver integrated solutions that enhance customer outcomes and strengthen competitive positioning • Ecosystem Partnerships: Collaborate with strategic partners to expand market reach and co-create innovative offerings • Disciplined, Tuck-In Acquisitions: Pursue selective, strategic acquisitions to augment capabilities, enter adjacent markets, and enhance scale Winning Growth Vectors Expand portfolio aligned to secular growth drivers 3
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2025 INVESTOR DAY 32 Seize Growth: Advancing Growth Vectors 1. Based on external market research and Company estimates (2024). 2. 2025 -2030 period, based on external market research and Co mpany estimates. S E R V I C E A B L E A D D R E S S A B L E M A R K E T ( S A M ) 1 ~$16B E X P E C T E D S A M G R O W T H 2 ~3% Industrial Manufacturing ~0-2% Semiconductor ~2-4% Electrification & Digitization Utilities Grid Modernization ~5-7% Defense Technologies Defense & Space ~5-7% Power Electronics Diversified Electronics ~3-5% Proven Right To Win, Now Amplifying Communications ~2-4% Growth Vectors Expected SAM Growth Rate2
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2025 INVESTOR DAY 33 Acquired January 2024 Implementing Our Growth Vector Strategy: EA Elektro-Automatik Acquisition Long-Term Test & Measurement Value Creation Opportunity PATH FORWARD • Integration progress: expanded sales reach, accelerated product roadmap, added lifecycle services • Pause in EV battery and energy storage production build-out • Long-term value creation opportunity despite near-term end market headwinds STRONG STRATEGIC FIT • Premier precision technology player • Scaled go-to-market in test and measurement • Award-winning European manufacturing operations site • Aligned culture and highly skilled technical talent TECHNOLOGY DIFFERENTIATION • Competitively advantaged bi-directional DC power supply • Industry-leading power density and efficiency
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2025 INVESTOR DAY Disciplined Capital Allocation Approach 34 Focus on Returning Capital to Shareholders and Investing in Growth Vectors Note: Subject to Board of Directors approval. 01 02 03 Incremental Reinvestment Organically invest in high growth markets aligned to long-term secular growth drivers Capital Returns Expect to return cash to shareholders through dividend and authorized buyback Focused Acquisitions Selective, strategic tuck-ins with high returns profile and strong value creation runway
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2025 INVESTOR DAY Strategic Filters Aligned to Growth Vectors Differentiated Products and Services Cultural Fit 35 Disciplined Approach to M&A Selective, Strategic Tuck-In Acquisitions to Accelerate Growth and Enhance Shareholder Value Financial Criteria Revenue Growth Acceleration Path to Margin Accretion Asset Light Model Double-Digit Year 3 Return on Invested Capital
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2025 INVESTOR DAY CONSISTENT EARNINGS GROWTH AND SHAREHOLDER RETURNS 36 Well-Positioned for Value Creation Revenue Growth Extension Adj. EBITDA Growth Faster than Revenue Strong and Durable Free Cash Flow Disciplined Capital Allocation R E T U R N SF R E E C A S H F L O WG R O W T H P R O F I TA B I L I T Y
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2025 INVESTOR DAY Test and Measurement Segment Growth Vector Spotlight: Power Electronics CHRIS BOHN President, Tektronix
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2025 INVESTOR DAY Key Messages 38 1 Accelerate margin recovery through new products, price, and strong expense management 2 Empower electronics innovation and capture growth driven by the electrification of everything 3 Leverage strong competitive advantages through application expertise, platform- driven innovation, and RBS
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2025 INVESTOR DAY Test and Measurement Segment at a Glance 39 75+ Years of legacy and installed base 30K+ Customers ~2K Active patents 5 Global manufacturing locations We are the measurements insights company We empower engineers to create what’s next in advanced electronics with greater ease, speed, and accuracy 2024 SEGMENT SALES SNAPSHOT OUR BRANDS China 23% BY GEOGRAPHY N. America 37% W. Europe 19% RoW 21% END MARKET BREAKOUTS Diversified Electronics • Automotive • Consumer Electronics • Education & Research • Industrial & Utilities • Medical Communications • Aerospace & Defense • Data Center & Network BY END MARKET Semiconductor 20% Diversified Electronics 51% Communications 29% Powering the Future of Electronics with Decades of Legacy, Global Reach, and Trusted Brands BY WORKFLOW Services 22% Validation 16% R&D 48% Production 14%
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2025 INVESTOR DAY 40 Business Evolution Over the Last 5 Years 2025 INVESTOR DAY RESULTS OF THE JOURNEY RBS TOOLS DEPLOYED 2025 INVESTOR DAY 40 2019 – 2024 Improved Profitability Powered Innovation - Driven Growth Refined Strategic Focus • Portfolio optimization • R&D productivity • Cost & working capital efficiencies • Platform innovation approach • Share gain in Power • Commercial productivity • Power focus led to SAM expansion through EA acquisition • RBS growth tools • Services growth 1. Engineering spend on the ongoing maintenance of company’s existing product portfolio and R&D infrastructure. 2. Tektronix working capital turns. PRICE REALIZATION TOOLKIT KEY ACCOUNT & FUNNEL MANAGEMENT CUSTOMER INNOVATION FRAMEWORK Reduction in Sustaining Engineering Spend1 50% Revenue per Employee +30% Working Capital Turns2 13.6x
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2025 INVESTOR DAY 41 Compelling Market Opportunity within Power Electronics 1. 2024 estimate based on external market research and Company estimates. Power Applications Are in Every Electronics Device GROWTH DRIVERS Power SemiconductorRobotics E-Mobility New Energy & Renewables RISE OF POWER ELECTRONICS Industry 4.0 IoT $5B+ SAM1 Advantaged Application Coverage Edge Computing Data Center Consumer OUR ADVANTAGES Millions of instruments, installed base, and global footprint Application expertise, strong IP, and measurement algorithm library Lifecycle calibration and repair services
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2025 INVESTOR DAY PRODUCTIONVALIDATIONRESEARCH & DEVELOPMENT Next-Gen Power Semiconductor Device Power Management Battery / Energy StorageInverters / Motors / DrivesMaterials Research Automated Test Equipment Wafer Parametric Test WIRELESSRadio Frequency Signal Analysis & Generation 5G / 6G IoTThreat Simulation WIRED High Speed I/O & Compliance Networking / Ethernet Optical / Silicon Photonics Product / Application Coverage None Full Concentration 42 Where We Play Differentiated in Power Electronics with Strong Installed Base…Expanding into Validation and Production ELECTRONIC DEVICE WORKFLOW COMMUNICATIONS POWER
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2025 INVESTOR DAY Device Power Management and Reliability Battery Quality and New Energy Storage Next-Gen Power Semi Research and Characterization Inverter, Motor, and Drive Analysis 43 Positions of Advantage in Power 1. Source measurement units. Strong Application Leadership Enabling Breakthroughs in Power Electronics Parametric Test SystemsSMUs1 Oscilloscopes Probes Enabling up to 40% energy savings in Data Centers Enabling Edge Computing and IoT expansion in smaller device footprints Oscilloscopes & Probes Advanced Software Bi-Directional Power Supplies Enabling up to 99% efficiency in Solar Inverters Enabling improved battery range, safety, and longevity
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2025 INVESTOR DAY 44 Shifting to Platform Approach for Product Innovation Driving Faster, Smarter Innovation through Core Platform Leverage PLATFORM Probes PLATFORM Software PLATFORM Instruments PLATFORM EA 5 C O R E P L A T F O R M S PLATFORM Oscilloscopes …to modular, platform-driven innovation approach Shifting from single product development… Product 1 Product 2 Product 3 Product 4 From: 1 Oscilloscope every 2-3 yrs To: 1 Oscilloscope per year
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2025 INVESTOR DAY New Approach J O U R N E Y P R O G R E S S 45 Accelerating Innovation Outcomes across Core Platforms Driving Breakthrough Results S I G N I F I C A N T I M P R O V E M E N T I N S P E E D T O M A R K E T 5x Increase in innovation f unnel 2x Expected NPI cadence 8 NPIs planned for launch in 2025 PROVEN RESULTS WITH OSCILLOSCOPES EARLY INNINGS IN PROBES EXPANDING TO INSTRUMENTATION Inherited Strong History at EA2x Cadence Improvement
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2025 INVESTOR DAY 46 2025 New Products Expanding Served Markets Platform-Driven Innovation Enabling Higher NPI Cadence R&D Labs Validation and Production Labs Performance Oscilloscope Modular Test Platform Isolated Current Probe Advanced Measurement Analytics Battery Tester Battery Impedance Meter R E F R E S H I N G I N S T A L L E D B A S E E X P A N D I N G S E R V E D M A R K E T
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2025 INVESTOR DAY Strategic Priorities Drive Growth with New Products and Services Drive New Product Growth • Drive volume with new products • Capture price with differentiated solutions Grow Value-Add Services • Attach more service offerings to new products • Improve mix of OEM services vs. non-OEM 22 Enhance Manufacturing Agility • Leverage 3rd party manufacturer footprint • Complete supply chain diversification 47
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2025 INVESTOR DAY 48 Disciplined Approach to Driving Sustainable Business Results Protecting long-term growth… ✓ Continue NPI investments ✓ Optimize commercial levers to maximize revenue potential …while proactively managing costs ✓ Drive workforce optimization ✓ Conduct productivity Kaizens ✓ Minimize variable spend ✓ Rationalize company events ✓ Manage variable incentive pay Near-Term Actions to Accelerate Margin Recovery
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2025 INVESTOR DAY Key Takeaways 49 Accelerate margin recovery with proven down- cycle playbook Empower electronics innovation driven by electrification Leverage strong application expertise, platforms, and RBS 1 2 3
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2025 INVESTOR DAY COREY CHRISTMANN President, PacSci EMC Sensors and Safety Systems Segment Growth Vector Spotlight: Defense Technologies
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2025 INVESTOR DAY Sensors and Safety Systems Segment at a Glance 51 Precision Expertise for Demanding Environments across Diverse End Markets High-precision sensors and safety systems for demanding environments where uptime, precision, and reliability are non-negotiable 75+ Y ears of legacy ~70% Revenue from regulated / safety-critical industries 14M+ Installed devices Broad Stronghold Positions Drive Top-Tier Profitability 2024 SEGMENT SALES SNAPSHOT Note: Other includes Food and Beverage, Healthcare, and HVAC. Industrial Manufacturing includes diverse applications spanning Machine Tools, General Motion, Nuclear, Robotics, Steel, Mining, Packaging, Fueling, and General Industrial. W. Europe 11% China 9% RoW 14% N. America 66% BY GEOGRAPHY Defense & Space 28% Industrial Manufacturing 33% Other 16% Utilities 23% BY END MARKET OUR BRANDS
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2025 INVESTOR DAY 52 Growth Vectors: Defense Technologies and Grid Modernization Defense Technologies Defense & Space Grid Modernization Utilities Growth Vectors End Markets
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2025 INVESTOR DAY Key Messages 53 1 Delivering mission- critical safety systems and solutions for Defense & Space 2 Operating as embedded partner in long-term programs 3 Driving rapid, proprietary innovation to support defense modernization
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2025 INVESTOR DAY Defense & Space Deep Dive 54 PacSci EMC: Trusted Leader in Precision Energetics and Safety Systems Precision energetics and high voltage safety systems 2024 SNAPSHOT 75+ Years of legacy and installed base 50+ Long-term production programs 2+ Years booked backlog HSD Revenue CAGR 2019-2024 OUR CUSTOMERS Defense Primes DOD Agencies Space Exploration Programs Commercial Aviation Players REOCCURING REVENUE New Funded Development 15% In Production Programs 85% BOOKINGS BY TYPE SALES BY PROGRAM TENURE 10-20 Years 30+ Years 20-30 Years <10 Years 20% 30% 30% 20% KEY APPLICATIONS Ground Safety Launch Safety Flight Safety
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2025 INVESTOR DAY 55 Where We Play: Critical Safety Solutions for All Phases of Flight Protect pilots and passengers from in-flight emergencies Safeguard populated areas during launches Provide safe and reliable sequencing, stage separation and landing during launch FLIGHT SAFETYGROUND SAFETY LAUNCH SAFETY Provide safe and reliable ignition sequencing Protect personnel during ground operations
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2025 INVESTOR DAY 56 Our Products Ensure Success when Commanded Altitude Control Motor Ignitors Electronic Ignition Safety Device Exploding Foil Initiator Thermally Initiated Venting System FLIGHT SAFETYLAUNCH SAFETY GROUND SAFETY Protecting Personnel During Ground Operations…
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2025 INVESTOR DAY 57 Our Products Ensure Success in Launch Safety Solutions FLIGHT SAFETY LAUNCH SAFETYGROUND SAFETY Lift-off / Boost Phase • Electro Explosive Device • Hold-down Release System • Hold-down System Separation • Ignition Safe and Arm • Interrupter • Radially Outward Firing Initiators Solid Rocket Booster Jettison • Frangible Nut Booster Payload Separation • Satellite Universal Standard Initiators Booster Separation • Universal Standard Initiators Flight Termination • Safe and Arms • Electro Explosive Devices
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2025 INVESTOR DAY 58 Our Products Protect Pilots and Passengers from In-Flight Emergencies Note: Larger circle indicates high level of content. FLIGHT SAFETYLAUNCH SAFETYGROUND SAFETY Emergency Egress Systems • Underwater Emergency Escape System • Window Cutting Assembly • Arm Fire Initiator • Expanding Tube Assembly • Flexible Confined Detonating • Shielded Mild Detonating • Time Delay Fire Suppression Systems Ignition Safety • Sequencing • Separation Mechanism
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2025 INVESTOR DAY Where We Play: From Deep Sea to Deep Space 592025 INVESTOR DAY Mars Rover Voyager 1 EKV Sounding RocketStandard Missiles Submarines TridentSatellites THAAD Griffin Cube Through Small Sats High-Altitude Balloons MALD PAC-3 Helicopters Drones Joint Strike Missile Fighter Jets Commercial Launch Commercial Aircraft JSOW Tomahawk Hydra 70 Javelin Strategic Deterrent Space Shuttle O C E A N L A N D A I R S P A C E Space Launch System (SLS) Military Transport Cruise Missiles Air-to-Ground Munitions Surface-to- Surface Munitions Hypersonics Shoulder Launch Munitions CONTENT. EVERYWHERE.
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2025 INVESTOR DAY 60 Well-Positioned to Capture Market Growth 2025 INVESTOR DAY LEAN FOR CAPACITY AND EFFICIENCY RALLIANT MATERIAL SYSTEMS CUSTOMER INNOVATION FRAMEWORK ACCELERATED NEW PRODUCT DEVELOPMENT Lean Manufacturing Strategic Investments Automation & Digital Innovation Growth • RBS lean tools • Manufacturing and supply chain performance improvements • Capacity expansion • Strategic supplier development • Dual sourcing investments • Investments in our team and system automation • Equipment automation • Digital / AI engineering solutions • Enhanced 3 rd party engineering and test services • Customer - led initiatives to accelerate growth vectors • Doubled innovation funnel • Speed and agility to reduce time to market by >30% RESULTS OF THE JOURNEY RBS TOOLS DEPLOYED 2019 – 2024 Past Due Backlog Reduction ~50% Capacity Runway 2x Today’s Revenue New Program Growth +30% SAM Expansion
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2025 INVESTOR DAY 61 Enabling Customer Success to Drive Growth 1 3 Case Study: Customer-Led Innovation OPPORTUNITY • Geopolitical tensions drove urgent need for development of Hypersonic defense platforms • Requested a Launch safety system to support rapid prototype testing for new defense systems RBS IN ACTION • Deployed RBS tool (Voice of Customer) to deepen customer insights • Built on our core competency in Launch Safety regulatory compliance • Co-developed cutting edge customer solution for flight safety 2 IMPACT 50% Growth with Prime customer segment 30% Growth in international business 2 Completed new product introductions, leading to sole-source positions 3 New product introductions currently in development
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2025 INVESTOR DAY 62 Well-Positioned for Long-Term Secular Drivers… DEFENSE MODERNIZATION GEOPOLITICAL ENVIRONMENT SPACE ADVANCEMENTS AND COMMUNICATIONS • Global rearmament spend at $1.8T in 2024; 20% increase from 2021 • $100B U.S. next generation investments over next 5 years • Global defense spend $3T by 2030 • ~200% increase in orbital space launches since 2017 • 300 to 1800 annual satellite launches from 2017 to 2024
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2025 INVESTOR DAY …through Our Sustainable Competitive Advantages 63 Engineering Expertise. Enduring Customer Relationships. Performance Advantage. FLAWLESS MISSION RECORD EMBEDDED TECHNOLOGY PATENTED, MODULAR PLATFORMS PREFERRED PARTNER STATUS • Integrated Electronics and Energetic Materials • Regulatory and compliance advantaged • Strong IP position • Rapid, low-cost customization • Zero safety-related failures • 50+ years on critical programs • Leading position on majority of flagship programs + = +
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2025 INVESTOR DAY 64 Strategic Priorities Fueling Long-Term Growth Strengthen Operational Adaptability • Enhance supply chain • Expand production capacity • Automation and digitization Accelerate Time to Market • Reduce new product development lead time • Strengthen partnerships, mission clarity • Drive quick responsiveness 22 Differentiate with Technology • Drive innovation to reduce time to first flight • Expand foundation in modular and platform technologies for next generation solutions
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2025 INVESTOR DAY Key Takeaways 65 Trusted leader and partner for mission-critical safety systems Positioned for growth with strong secular drivers Clear strategy with proprietary innovation poised for continued growth 1 2 3
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2025 INVESTOR DAY Sensors and Safety Systems Segment Growth Vector Spotlight: Grid Modernization ANDREW MCCAULEY President, Sensor Systems
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2025 INVESTOR DAY Key Messages 67 1 Defining reliability as a trusted leader for 80+ years, delivering essential and reliable grid solutions 2 Well-positioned in utilities, benefiting from long-term secular trends driven by grid modernization and capacity expansion 3 Driving strong, above-market growth in utilities through clear strategic priorities powered by RBS
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2025 INVESTOR DAY Utilities Deep Dive 68 Enabling Delivery of Uninterrupted Power to Create a Safer, More Productive World 2024 SNAPSHOT Leader in health monitoring of critical equipments in a power grid ~45% Utility Customer ~55% OEM Customer SALES BY GEOGRAPHY W. Europe 13% China 10% N. America 40% 80+ Years of legacy and installed base 4M+ Installed devices HSD Revenue CAGR 2019-2024 Specified by Major N. America Utilities RoW 37%
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2025 INVESTOR DAY 69 Where We Play Enabling Resilience across the Power Grid DistributionTransmissionGeneration Power Generation Plant Gas-Insulated Substation High-Voltage Overhead Transmission Lines Transmission Substation Medium-Voltage Overhead Transmission Lines Distribution Substation Distribution Lines Leading Capabilities Significant Growth Runway ~ 50% Total Market High Value Assets – Precision and Reliability Critical SAM Expansion Opportunity
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2025 INVESTOR DAY • Typical transmission transformer costs $5-15M; typical sensor costs <1% of total transformer • Transformer failure can result in a power outage affecting 10M+ people C R I T I C A L A S S E T 70 Leadership Position in Transformer Monitoring Delivering Customers a Proven, Verified, and Validated Solution C U S T O M E R B E N E F I T S • Reduces implementation time from 6 months to 6 weeks • Eliminates technical and schedule risk of multi-vendor integration 3-5x Increase in avg. content value RALLIANT BENEFITS 50% Increase in close rate Value Capture Shifting from product to solution selling 6 19 Critical safety sensors Advanced health monitoring devices
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2025 INVESTOR DAY Our Monitoring Product Line: Powering Every Stage of the Grid 71 Purpose-Built Products Delivering Reliability, Efficiency, and Grid Intelligence GENERATION MONITORING TRANSFORMER & SUB -STATION MONITORING DISTRIBUTION MONITORING Driving Greater Grid Uptime and Lower Cost for Customers • Enabling shift from time-based to condition-based maintenance • Extending the life of critical assets • Maximizing grid availability and performance
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2025 INVESTOR DAY 72 From Strong Foundations to Strategic Expansion 2025 INVESTOR DAY Growth in Annual NPI Sales >6x Revenue Growth HSD Working Capital Improvement +3 Turns Innovation & Market Leadership Strategic Go - to - Market Shift Operational Execution Solution Selling Accelerated new product development and innovation initiatives Pivoted from regional to Utility and OEM - focused strategies to better align with customer needs Embedded RBS principles to unlock sales growth through operational execution Transition from product to solution sale for higher value capture and wallet share gain RESULTS OF THE JOURNEY RBS TOOLS DEPLOYED 2019 – 2024 VOICE OF CUSTOMER CUSTOMER INNOVATION FRAMEWORK ORGANIZATIONAL TALENT ASSESSMENT STANDARD WORK
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2025 INVESTOR DAY 73 Leveraging RBS to Drive Growth OPPORTUNITY • In 2022, global market experienced a step-change in demand • On-time delivery rates declined, driving up past-due backlog • Lead times extended from days to weeks, and sometimes even months RBS IN ACTION • Deployed the RBS toolkit • Executed 60+ Kaizens; initial event focused on 3 production lines representing ~35% of sales • Nearly doubled line capacity without adding headcount IMPACT Last 3 Years 1 2 3 Case Study: Unlocking Growth ~50% Increase in production throughput $0 Increase Working capital to support sales growth +20ppt On-time delivery improvement +17ppt Improvement in employee engagement
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2025 INVESTOR DAY 74 Well-Positioned to Capture Growth from Key Secular Trends… Sources: U.S. Department of Energy, U.S. Energy Information Administration, International Energy Agency. Expected Power Demand Growth Rate 6x vs. Prior 20-Year Average AGING GRID INFRASTRUCTURE AI DATA CENTER NEW ENERGY SOURCES • AI data centers are projected to triple consumption of electricity use by 2028 • U.S. data centers are forecast to increase electricity demand from 4% to 9%, or 250 TW hrs • Over 70% of U.S. power transformers are >25 years old • Number of major power outages in U.S. has increased by >60% since 2015 • Renewables projected to account for >50% of global electricity generation by 2030 • Global investment in grid modernization to support renewable integration is expected to exceed $300B annually by 2030
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2025 INVESTOR DAY …through Our Sustainable Competitive Advantages 75 High Precision, Breadth, and Domain Expertise Powering Sustainable Market Leadership WORLD -RENOWNED EXPERTS POSITIONED AS EXTENSION OF CUSTOMERS’ ENGINEERING TEAMS • Decades of domain expertise • Representation on global standard bodies COMPREHENSIVE PORTFOLIO OF HEALTH MONITORING PRODUCTS • Positioning as one-stop-shop enables cross-sell / up-sell for wallet share gain ICONIC AND TRUSTED BRAND KNOWN FOR ACCURACY AND PRECISION • Long-standing reputation drives customer loyalty and confidence
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2025 INVESTOR DAY Strategic Priorities 76 Extending Growth Runway Accelerate Innovation • Drive efficiency through platform approach to engineering • Enable higher quality products faster 22 Maximize Market Opportunity • Enhance solution sales for full asset monitoring • Drive share of wallet • Improve digital customer experience Extend Operational Capability • Expand manufacturing capacity • Optimize strategic sourcing
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2025 INVESTOR DAY Key Takeaways 77 Trusted leader in high precision reliable grid solutions Positioned for growth amid secular tailwinds Clear strategic priorities for continued market leadership and profitable growth 1 2 3
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2025 INVESTOR DAY Financial Overview Neill Reynolds Chief Financial Officer
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2025 INVESTOR DAY Key Messages 79 1 Building on a demonstrated track record of high margins and consistent free cash flow through customer cycles 2 Executing on clear financial priorities to deliver organic revenue growth through reinvestment 3 Maintaining strong balance sheet and capital allocation priority of returning capital to shareholders
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2025 INVESTOR DAY 20.1% 25.7% 23.5% 2019 2024 Reported Stand- alone Costs 2024 Pro Forma Track Record of Delivering Strong Results 80 Strong EBITDA Execution Resulting in ~$2B of Free Cash Flow Over Prior Five Years 1. Standalone Costs are inclusive of $1.2M pro forma adjustments and $45M of additional Company adjustments in FY 2024 as set forth in the Form 10 (Unaudited Pro Forma Combined Financial Statements). REVENUE ($M) ADJ. EBITDA ($M) ADJ. EBITDA MARGIN $1,815 $2,155 2019 2024 $365 $553 $507 2019 2024 Reported Stand- alone Costs 2024 Pro Forma 3.5% CAGR 8.7% CAGR +560 BPS 1 1
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2025 INVESTOR DAY 81 Strong Adj. EBITDA Growth 1. All Adj. EBITDA figures are adjusted for comparability (e.g., include applicable stock -based compensation, regardless of company definitions). Peers comprise: Amphenol, Ametek, Cognex, Dover Corporation, Emerson, Idex Corporation, Keysight Technologies, Teledyne Technologies, TE Connectivity. Includes impact of M&A or divestitures. HSD Adj. EBITDA Growth Over Last Five Years Peer 1 Peer 2 Ralliant Peer 4 Peer 5 Peer 6 Peer 7 ~18% ~15% Peer 3 ~6% ~5% ~5% ~5% ~2% ~-1% Top-tier Adj. EBITDA growth driven by continuous improvement culture and RBS Everywhere 2019 – 2024 Adj. EBITDA CAGR 1 ~9% Peer 9 Peer 8
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2025 INVESTOR DAY Update on 2025 82 Navigating Near-Term Challenges While Building Momentum for Profitable Growth Mixed End Market Demand Navigating the Current Environment Well-Positioned for Improvement in Growth and Profitability Strong demand in Utilities and Defense & Space driven by electric grid expansion and increased defense spending Signs of Industrial Manufacturing demand improving Test and Measurement order momentum slowed in 1H as customers delayed purchases due to macro uncertainty Proven downcycle playbook to offset tariff headwinds and end markets with softer macro Expect to fully offset the estimated tariff exposure by Q4 Full mitigation projected in 2026 through pricing and supply chain actions Focused on winning positions in end markets with secular growth drivers Several new product launches coming soon Track record of high flow-through and consistent cash generation Experienced leadership team focused on executing strategy
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2025 INVESTOR DAY Outlook Driven by Clear Financial Priorities 83 Creating Long-Term Shareholder Value FREE CASH FLOW Deploy through-cycle playbook to maintain consistent free cash flow and balance sheet strength RETURNS Bolster shareholder returns with disciplined capital allocation PROFITABILITY Grow adjusted EBITDA faster than revenue GROWTH Extend LSD+ revenue growth with focused investments in winning positions, augmented by tuck-in acquisitions
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2025 INVESTOR DAY Building on Track Record of Revenue Growth 84 Clear Path to Continued Organic Growth Supplemented by Tuck-In Acquisitions Plan to extend track record of organic revenue growth while fueling upside through M&A • Test and Measurement growth driven by power electronics and data center investment • Sensors and Safety Systems growth driven by defense technologies and power grid monitoring • Expect price realization and expanding higher-margin services revenue across both segments Organic Growth M&A Total Revenue Through-Cycle Revenue Growth Expectations ~3% ~1% 3-5% Annual Growth
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2025 INVESTOR DAY Expect High-Margin Business through the Cycle 85 Clear Levers in Place to Maintain Strong Margin Profile across Segments Expected Adj. EBITDA Margin Ranges Through the Cycle Sensors and Safety Systems High-20s Test and Measurement Mid-Teens to Low-20s Ralliant Low-to-Mid-20s Incremental Adj. EBITDA Margin of 30-35% • Growth-enabled operating leverage • Value engineering to improve product function and cost structure • Supply chain efficiencies through sourcing productivity and manufacturing optimization • Ongoing price realization • Efficiency in Sales & Marketing and R&D investment Continued Operating Rigor Driving Strong Margins + =
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2025 INVESTOR DAY Expect Durable Cash Generation across Market Cycles 86 High-Margin, Capex-Light Business Model Delivering Durable FCF Continuation of Strong FCF Drivers GREATER THAN $1B OF CUMULATIVE FCF THROUGH 2028 Targeting FCF conversion 95%+ Capex ~2% of Revenue Net Working Capital below 10% of Revenue Adj. EBITDA Margin Low-to-Mid-20s
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2025 INVESTOR DAY Strong Balance Sheet and Liquidity 87 Strong Financial Position as We Transition to a Public Company 1. Net debt to LTM Adj. EBITDA as defined by Company’s credit facility. Balance Sheet and Debt Structure Target Investment Grade Credit Ratings 18 Months 36 Months UNDRAWN DEBT CAPACITYTERM LOANS RevolverTerm Loans $620M $530M $750M $150M Expected Capital Structure at Spin $1.15B Gross Debt ~$150M Cash and Investments $900M Undrawn Debt Capacity 1.9x Net Leverage1 ~$1.0B Net Debt
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2025 INVESTOR DAY Disciplined Capital Allocation Approach 88 Focus on Returning Capital to Shareholders and Investing in Growth Vectors Note: Subject to Board of Director approval. 1. Net debt to LTM Adj. EBITDA as defined by Company’s credit facility. 01 02 03 Incremental Reinvestment Organically invest in high growth markets aligned to long-term secular growth drivers Capital Returns Expect to return cash to shareholders through dividend and authorized buyback Focused Acquisitions Selective, strategic tuck-ins with high returns profile and strong value creation runway T A R G E T I N V E S T M E N T G R A D E C R E D I T R A T I N G W I T H N E T L E V E R A G E 1 O F 1 . 5 - 2 . 0 x
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2025 INVESTOR DAY 89 Well-Positioned 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 2028 Strong and Durable Free Cash Flow P R O F I TA B I L I T Y Through cycle Adj. EBITDA margin: Low-to-Mid-20s Adj. EBITDA Growth Faster than Revenue 3-5% G R O W T H through cycle revenue growth EXPECTED RESULTS Revenue Growth Extension
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2025 INVESTOR DAY Q&A
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2025 INVESTOR DAY Closing Remarks TAMI NEWCOMBE Chief Executive Officer
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2025 INVESTOR DAY 92 Ralliant: Invest with Us Strong Foundation • Focused portfolio • Operating rigor • Financial discipline • Seasoned business leaders Evolved Purpose and Culture • Focused Ralliant Business System • Amplified growth culture Clarified Growth Strategy • RBS Everywhere • Stronghold positions in winning growth vectors Disciplined Capital Allocation • Strong cash flow generation • Focus on reinvesting in the business, returning capital to shareholders, and tuck-in acquisitions 01 02 03
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2025 INVESTOR DAY Appendix
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2025 INVESTOR DAY Leadership Bios
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2025 INVESTOR DAY 95 Tami leads Ralliant with strategic vision and hands-on operational expertise, setting the company’s direction as a global leader in precision technologies. Her leadership approach combines deep industry knowledge with customer focus to drive growth in rapidly evolving markets. Tami previously served as President of Fortive’s (NYSE: FTV) Precision Technologies segment, where she directed 11 operating companies, led 11,000 global employees, and managed $3.5 billion in operations while developing the strategic foundation critical for unlocking Ralliant’s full growth potential. Throughout her career, Tami has demonstrated an exceptional ability to transform market insights into winning strategies. She drove innovation and operational excellence during her six years at Tektronix, including more than three years as President. In previous executive roles at Fortune 500 companies including Cisco (NASDAQ: CSCO), she developed approaches to capture key market shifts, built scale through strategic channel partnerships, and consistently delivered customer value through technology adoption. Tami’s engineering background, with early roles at Analog Devices (NASDAQ: ADI) and IBM (NYSE: IBM), gives her unique perspective on Ralliant’s precision technologies and their real- world applications. A growth-minded leader, Tami advocates for continuous improvement and rapid innovation. She holds a B.S. in Electrical and Biomedical Engineering from Syracuse University, where she was an accomplished Division I athlete and team captain, and an MBA from Union College. TAMI NEWCOMBE | Chief Executive Officer Speaker
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2025 INVESTOR DAY 96 NEILL REYNOLDS | Chief Financial Officer Neill drives financial strategy and operational excellence at Ralliant, drawing on more than 25 years of leadership experience at global technology companies. His comprehensive expertise spans finance, M&A, investor relations, business development, IT, supply chain, and procurement. Before joining Ralliant, Neill served as Executive Vice President and Chief Financial Officer of Wolfspeed (NYSE: WOLF) from 2018 to 2025, where he strengthened the company’s financial foundation and supported its strategic transformation into a leading silicon carbide materials and power semiconductor supplier. His financial leadership was instrumental in positioning the company for sustainable growth in high-performance markets. At NXP Semiconductors (NASDAQ: NXPI), Neill led global teams as SVP of Finance, Strategy and Procurement from 2013 to 2018, developing and executing initiatives that drove profitable growth. He also directed operational integration following the company’s $40 billion merger with Freescale Semiconductor. Earlier, during his 15-year tenure at General Electric (NYSE: GE), he held multiple CFO positions, implementing growth strategies across global industrial and manufacturing businesses in diverse technology sectors. Neill holds a B.A. in Economics and English Literature from Boston College. Speaker
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2025 INVESTOR DAY 97 KAREN BICK | Chief People Officer Karen leads Ralliant’s people strategy, leveraging more than 25 years of experience building high- performance cultures in complex global organizations. Her approach combines systematic thinking, strategic insight, and a genuine passion for developing talent to create an environment where teams excel and innovation thrives. Before joining Ralliant, Karen served as VP of Human Resources at Fortive (NYSE: FTV) from 2024 to 2025, overseeing the Advanced Healthcare Solutions and Precision Technologies segments. In this role, she partnered with segment presidents to implement enterprise-wide talent programs and ensure HR systems supported strategic priorities. Previously, she led Fortive’s Healthcare HR from 2020 to 2024, driving organizational effectiveness through periods of significant transformation. Karen’s multifaceted expertise includes business partnering, talent management, learning and development, and organizational design. She previously served as VP of Human Resources for Stryker (NYSE: SYK), a global medical technology company, and held progressive leadership positions at Bristol-Myers Squibb (NYSE: BMY), where she aligned business strategy with talent initiatives. Karen began her HR career at Popular Bank (NASDAQ: BPOP), where she discovered the significant impact people strategy could have on business success. Karen holds a B.S. in Human Development and Family Studies from Cornell University and an MBA from Seton Hall University.
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2025 INVESTOR DAY 98 JEB BOATMAN | Chief Legal Officer Jeb leads Ralliant’s legal strategy, addressing enterprise risks and ensuring global regulatory compliance. He brings extensive expertise in litigation, intellectual property, regulatory matters, and public policy developed through leadership roles at major global corporations. Before joining Ralliant, Jeb served as SVP for Litigation, Regulatory, and Public Policy at Activision Blizzard (NASDAQ: ATVI) from 2021 to 2025. There, he led teams handling significant, high-profile legal issues including global litigation, intellectual property protection, risk management, competition law, trade controls, and federal and state public policy matters. Prior to Activision Blizzard, Jeb spent nearly a decade at The Boeing Company (NYSE: BA) in roles of increasing responsibility, including VP and Assistant General Counsel for Government Operations and Enterprise Operations, Finance & Strategy. He led Boeing’s regulatory and government law practice while also overseeing finance and governance legal teams, managing issues from global trade controls to corporate governance. Jeb’s career also includes public service as a prosecutor and Appellate Chief at the U.S. Attorney’s Office, private practice experience at national law firms, and a federal judicial clerkship. He holds a J.D., summa cum laude, from the University of Oklahoma College of Law and a B.A. from the University of Oklahoma.
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2025 INVESTOR DAY 99 AMIR KAZMI | Chief Technology and Growth Officer Amir leads Ralliant’s enterprise-wide technology strategy, driving digital innovation and customer value delivery initiatives that support the Company’s growth. He brings over two decades of technology leadership experience from Fortune 500 corporations, high-tech startups, and global industrial companies. Before joining Ralliant, Amir served as Chief Information and Digital Officer at WestRock Company (NYSE: WRK) from 2017 to 2024, where he developed and executed global information systems and cybersecurity strategies while leading the company’s digital transformation. At WestRock, he implemented advanced digital solutions that streamlined operations and strengthened customer relationships across the global paper and packaging business. Amir brings valuable entrepreneurial experience from his role as co-founder and CEO of Kuprion, a nano-copper technology company focused on advanced electronic materials innovation. From 2016 to 2017, he built the foundation for all aspects of the company’s operations, establishing technology systems and marketing initiatives critical for growth. Earlier in his career, Amir spent over a decade at Lockheed Martin Corporation (NYSE: LMT), a leading aerospace and defense company, serving in various technology leadership roles. Amir holds a B.S. in Computer Science from Mount St. Mary’s University and an M.S. in Systems Engineering from Johns Hopkins University.
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2025 INVESTOR DAY 100 CHRIS BOHN | President, Tektronix Chris drives growth and innovation at Tektronix, bringing over two decades of expertise in product management, marketing, and business operations to deliver cutting-edge test and measurement solutions. As President of Tektronix, Chris focuses on accelerating innovation and expanding market reach in high-growth areas aligned with Ralliant’s Power Electronics growth vector. He previously served as VP of Sales & Operations, where he integrated revenue functions and strengthened customer focus, creating the foundation for the company’s continued leadership in precision measurement. His proven track record includes serving as General Manager for Sonix and Keithley Portfolio Solutions from 2019 to 2021, where he delivered record double-digit profitable growth. From 2008 to 2019, Chris developed valuable global perspective as a P&L leader for high-growth markets in India, Southeast Asia, and Australia. As Business Unit Director and Global Product Manager for diagnostic tools and electrical products divisions, he developed product roadmaps and global marketing programs. Before his corporate career, Chris served as a Civil Engineering Officer in the United States Air Force, leading design, construction, and maintenance engineering teams at multiple locations. Chris holds a B.S. in Civil Engineering from the United States Air Force Academy and an MBA from the Kellogg School of Management at Northwestern University. Speaker
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2025 INVESTOR DAY 101 ANDREW MCCAULEY | President, Sensor Systems Andrew leads Ralliant’s Sensing Technology business, bringing unmatched global operational and marketing expertise developed over nearly three decades spanning the company’s evolution from Danaher and Fortive (NYSE: FTV) to Ralliant. At Fortive, Andrew built a strong track record overseeing go-to-market and development strategies for precision solutions as Group President of Sensing Technology (2023-2025), President of Qualitrol (2019-2023), and President of Specialty Product Technologies (2017-2019). Before Fortive’s separation from Danaher (NYSE: DHR) in 2016, Andrew served as VP of Marketing and Business Development and held leadership roles across multiple regional and business groups, developing deep expertise in growth opportunities and market entry strategies. He began his career as a Field Sales Engineer at Pacific Scientific, which was acquired by Danaher and is now part of Ralliant. Andrew holds a B.S. in Electrical Engineering from Virginia Tech and an MBA from UNC Kenan- Flagler Business School. Speaker
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2025 INVESTOR DAY 102 COREY CHRISTMANN | President, PacSci EMC Corey is currently the President for PacSci EMC. He has 30 years of experience in business leadership and continuous improvement, supported by a strong foundation in operations and supply chain. His leadership and strategic vision have been instrumental in the growth and development of new capabilities at PacSci EMC. Corey has progressed professionally through a series of key leadership roles at General Electric (NYSE: GE), Danaher (NYSE: DHR), Fortive (NYSE: FTV), and now Ralliant. Throughout his career at Fortive, Corey was instrumental in driving growth through strategic product innovation and business system implementations. Through pivotal roles at PacSci EMC, Tektronix, and Fluke, he built optimized global networks, streamlined service centers, product distribution channels, and operational and strategic sourcing infrastructures. His international experience includes leadership roles with responsibilities spanning Mexico, the Czech Republic, Germany, and the U.S. Corey holds a B.S. in Mechanical Engineering from North Dakota State University and an MBA from Wake Forest University. Speaker
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2025 INVESTOR DAY 103 Non-GAAP Financial Measures The Company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”). However, it presents certain non-GAAP measures, which are not recognized financial measures under GAAP, because management believes they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that they do not believe are indicative of ongoing operating performance. Management believes these measures are helpful in highlighting trends in our operating results, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure and allocation, the tax jurisdictions in which companies operate and capital investments and acquisitions. This presentation contains references to “organic revenue growth”, “adjusted EBITDA”, “adjusted EBITDA margin”, “free cash flow”, “free cash flow conversion”, “free cash flow margin”, and “net leverage” financial measures which are, in each case, not presented in accordance with GAAP. The non-GAAP financial measures are not intended to replace the presentation of the comparable measures under GAAP, should be read in conjunction with the most directly comparable GAAP financial measures, and may not be comparable to similarly titled measures reported by other companies. We define these non-GAAP financial measures as follows: • Organic revenue growth refers to revenue from operations growth calculated according to GAAP, but excluding (1) the impact from acquired and divested businesses and (2) the impact of currency translation. References to revenue attributable to acquisitions or acquired businesses refer to GAAP revenue from acquired businesses recorded prior to the first anniversary of the acquisition, less the amount of revenue attributable to certain businesses or product lines that, atthe time of reporting, have been divested or are pending divestiture, but are not, and will not be, considered discontinued operations prior to the first anniversary of the divestiture. The portion of revenue attributable to the impact of currency translation is calculated as the difference between (a) the period-to-period change in revenue (excluding revenue impact from acquired businesses) and (b) the period-to- period change in revenue (excluding the revenue impact from acquired businesses) after applying the current period foreign exchange rates to the prior year period. • EBITDA refers to net earnings calculated in accordance with GAAP, excluding, interest, taxes, depreciation, and amortization. ◦ Adjusted EBITDA refers to EBITDA adjusted to exclude acquisition and divestiture related adjustments and costs, gain on sale of property, loss from divestiture, and discrete restructuring charges. ◦ Adjusted EBITDA margin refers to adjusted EBITDA as a percentage of GAAP revenue. • Free cash flow refers to cash flow from operations calculated according to GAAP but excluding purchases of property, plant and equipment (“capital expenditures”). ◦ Free cash flow conversion refers to free cash flow divided by net earnings. ◦ Free cash flow margin refers to free cash flow as a percentage of GAAP revenue. • Net leverage refers to net debt according to GAAP divided by last twelve months adjusted EBITDA as defined by the Company's credit agreement, which is consistent with the Company’s adjusted EBITDA as defined above, adjusted for share-based compensation expense. The Company has not reconciled the forward-looking statements regarding “organic revenue growth”, “adjusted EBITDA”, “adjusted EBITDA margin”, “free cash flow”, “free cash flow conversion”, “free cash flow margin”, 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. These items are uncertain, depend on various factors out of our control and could have a material impact on the corresponding measures calculated in accordance with GAAP. Reconciliations of historical non-GAAP financial measures to the most directly comparable GAAP financial measure can be found attached to this presentation.
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2025 INVESTOR DAY Organic Revenue Growth 104 Year Ended December 31, 2020 2021 2022 2023 2024 Total Revenue Growth (GAAP) (7.0) % 12.3 % 10.2 % 3.2 % — % Excluding impact of: Acquisitions and divestitures 0.1 % (0.2) % 0.7 % 0.9 % (4.5) % Currency exchange rates (0.2) % (1.6) % 2.9 % 0.4 % 0.4 % Organic Revenue Growth (Non-GAAP) (7.1) % 10.5 % 13.8 % 4.5 % (4.1) %
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2025 INVESTOR DAY Adjusted EBITDA and Adjusted EBITDA Margin (in millions) 105 Year Ended December 31, 2019 2024 Revenue (GAAP) $ 1,815.4 $ 2,154.7 Net Earnings (GAAP) $ 241.0 $ 354.6 Interest (income) expense, net — — Income taxes 52.9 78.0 Depreciation 27.2 29.0 Amortization 20.3 84.0 EBITDA (Non-GAAP) 341.4 545.6 Acquisition and divestiture related adjustments and costs (a) 4.0 36.0 Gain on sale of property — (63.1) Loss from divestiture — 25.6 Discrete restructuring charges 19.5 9.1 Adjusted EBITDA (Non-GAAP) $ 364.9 $ 553.2 Net Earnings Margin (GAAP) 13.3 % 16.5 % Adjusted EBITDA Margin (Non-GAAP) 20.1 % 25.7 % (a) Includes pretax transaction costs, acquisition related fair value adjustments to inventory, integration costs, and corresponding restructuring charges related to acquisitions.
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2025 INVESTOR DAY Free Cash Flow (in millions) 106 Year Ended December 31, 2022 2023 2024 Net Cash Provided By Operating Activities (GAAP) $ 391.7 $ 461.8 $ 454.5 Less: Capital expenditures (GAAP) (30.8) (29.2) (34.3) Free Cash Flow (Non-GAAP) $ 360.9 $ 432.6 $ 420.2