Slides
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3Q 2026 Earnings Investor Presentation November 4, 2026 © THE TIMKEN COMPANY
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Forward-Looking Statements Safe Harbor and Non-GAAP Financial Information Certain statements in this presentation (including statements regarding the Company’s forecasts, beliefs, estimates, plans an d expectations) that are not historical in nature are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to Timken’s plans, outlook, future financial performance, targets, projected sales, cash flows, liquidity, cost reduction measures and expectations regarding the future financial performance of the company, including the information under the head ings, “3Q 2026 Highlights”, “Progress on Our Strategic Priorities”, “2026 Outlook”, “Organic Growth Outlook – FY 2026 By Market/Sector”, “2026 Adj. EPS Outlook Bridge (vs. August Outlook)”, “Focused on Strategic Verticals to Deliver Strong Growth” and “Why Timken” are forward looking. The Company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the finalization of the Company’s financial statements for the third quarter of 2026; fluctuations in customer demand for the Company’s products or services; changes in customer preferences due to emergent technologies, evolving regulatory landscapes or other factors; unanticipated changes in business relationships with customers or their purchases from the Company; changes in the f inancial health of the Company’s customers, which may have an impact on the Company’s revenues, earnings and impairment charges; logistical issues associated with port closures, delays or increased costs; costs associated with inclement weather events; the impact of changes to the Company’s accounting methods; political risks associated with government instability; recent world events that have increased the risks posed by i nternational trade disputes, tariffs, sanctions and hostilities; strained geopolitical relations between countries in which we have significant operations; weakness in global or regional general economic conditions and cap ital markets (as a result of financial stress affecting the banking system or otherwise); changes in wages, shipping costs, raw material costs, energy and fuel prices, and other production costs; new technology, including artificial intelligence, that may impact the way the Company’s products are produced, sold or distributed; changes in customer demand or tariff rates and other costs associated with tariffs; the Company’s ability to satisfy its obligations under its debt agreements and renew or refinance borrowings on favorable terms; fluctuations in currency valuations or interest rates; changes in the expected costs associated with product warranty claims; the ability to achieve satisfactory operating results in the integration of acquired companies, including realizing any accretion, synergies, and expected cashflow generation within expected timeframes or at al l; the Company’s ability to effectively adjust prices for its products in response to changing dynamics; the impact on the Company’s pension obligations and assets due to changes in interest rates, investment performance and other tactics designed to reduce risk; the introduction of new disruptive technologies, including artificial intelligence; unplanned plant shutdowns; the effects of government -imposed restrictions, commercial requirements, and Company goals associated with climate change and emissions or other sustainability initiatives; unanticipated litigation, claims, investigations, remediation, or assessments; the rapidly evolvi ng global regulatory landscape and the corresponding heightened operational complexity and compliance risks; restrictions on the use of, or claims or remediation associated with, per- and polyfluoroalkyl substances or polytetrafluoroethylene; the Company’s ability to maintain positive relations with unions and works councils; the Company’s ability to compete for skilled labor and to attract, retain and develop management, other key employees, and skilled personnel; negative impacts to the Company’s operations or financial position as a result of pandemics, epidemics, or other public health concerns and associated governmental measures; and the C ompany’s ability to complete and achieve the benefits of announced plans, programs, initiatives, acquisitions, capital investments, and cost reduction actions. Additional factors are discussed in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2025, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. This presentation includes certain non-GAAP financial measures as defined by the rules and regulations of the Securities and Exc hange Commission. Reconciliation of those measures to the most directly comparable GAAP financial measures are provided in the Appendix to this presentation. 2
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3Q 2026 Highlights • Expanded sales, margins and EPS versus prior year • Results reflect higher pricing across both segments and higher volumes in the Industrial Motion segment • Positive price-cost performance despite inflationary pressures • Adj. EBITDA and Adj. EPS includes a net benefit for IEEPA tariff refunds ($0.13/share) • Portfolio 80/20: completed sale of the belts business • Raising 2026 Adj. EPS outlook to $6.35-$6.50, up ~20% YOY at the midpoint See appendix for reconciliations of organic revenue, adjusted EBITDA, adjusted EBITDA margins, free cash flow, adjusted EPS, net debt, and the ratio of net debt to adjusted EBITDA to their most directly comparable GAAP financial measures. Certain data contained in the table above has been rounded for presentation purposes. Free cash flow is defined as net cash provided by operating activities minus capital expenditures. $1.2B 18.5% $221M $1.65 1.7x Sales +4.7% YOY Reported +2.8% YOY Organic Adjusted EBITDA Margin +110 bps YOY Free Cash Flow Adjusted EPS +20% YOY Net Debt/ Adj. EBITDA 3 504K Shares repurchased during the quarter
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4 PILLAR 1 Optimize the Portfolio PILLAR 2 Focus Resources to Strategic Verticals PILLAR 3 Leverage Our Multinational Footprint Progress on Our Strategic Priorities • Completed divestiture of the belts business; expected to structurally increase margins of Industrial Motion beginning in 4Q-26 • 80/20: training across the enterprise largely complete; actions well underway • Automation & Robotics delivered double-digit organic growth YOY in 3Q-26 • Completed minority investment in early-stage manufacturer of electroadhesive technology to support growth in automation • One Timken operating model in place: COO and CCO roles established, business P&Ls and regional commercial structure aligned to verticals • One Timken commercial strategy driving early wins in precision drives systems and lubrication systems 1. Including Commercial Aerospace, Defense & Naval, Power Generation, Renewable Energy, Automation & Robotics, Food & Beverage, Construction, Mining , Marine and Rail • Exit non-strategic product or business lines with structurally lower margins • Reduce complexity through 80/20 actions • Streamline manufacturing and supply chain • Target >80% of incremental capital and resources to strategic verticals1 • Accelerate technology-led growth by focusing R&D on strategic verticals1 • Execute disciplined M&A deploying capital to strategic verticals1 • Operate as One Timken to best serve customers • Aggressive regional expansion by leveraging existing infrastructure • Deploy Timken Operating System globally 2026 Priorities: Transform the Core 3Q-26 Progress
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3Q 2026 Performance Highlights
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3Q 2026 Financial Overview See appendix for reconciliations of adjusted EBITDA, adjusted EBITDA margin, and adjusted EPS to their most directly comparable GAAP financial measures. Net Sales ($M) $1,157 $1,211 3Q-25 3Q-26 $202 $225 3Q-25 3Q-26 17.4% 18.5% $1.65 $1.34 $1.37 $0.99 REPORTED (GAAP) ADJUSTED 3Q-25 3Q-26 3Q-25 3Q-26 6 Adjusted EBITDA ($M) Earnings Per Share +4.7%
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3Q 2026 Financial Highlights — Sales 7 Certain data contained in the bar graph above has been rounded for presentation purposes. 3Q-26 vs. 3Q-25 Sales by Geography – ORGANIC $1,157 $1,211 $32 $21 $1 3Q-25 Organic Acquisitions Currency 3Q-26 (Excludes Acquisitions and Currency impact) -3% EMEA +6% Americas +3% Asia-Pacific +4.7%+1.8% +0.1% ($M) +2.8%
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3Q 2026 Financial Comparison – Adjusted EBITDA 8 *Includes a net benefit of ~$12M for IEEPA tariff refunds. **Includes fixed manufacturing cost absorption impact on the sales volume. Certain data contained in the bar graph above has been rounded for presentation purposes. See appendix for reconciliations of adjusted EBITDA and adjusted EBITDA margin to their most directly comparable GAAP financial measures. 3Q-25 EBITDA (adj.) Mix Price Tariffs* Volume** Material/ Logistics Manufacturing Costs SG&A/Other Acquisitions Currency 3Q-26 EBITDA (adj.) $202 $225 ($2) $14 $7 ($6)($2) 17.4% 18.5% $4($8) ($M) $12 $4
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3Q 2026 Segment Performance 9 Certain data presented above has been rounded for presentation purposes. Sales from currency added 0.2% from the same period last year; no acquisition impact. Organic sales up 0.5% YOY $766 $771 3Q-25 3Q-26 Net Sales ($M) Adjusted EBITDA ($M) $144 $156 3Q-25 3Q-26 Engineered Bearings 18.8% 20.2% Q3 Organic Sales by End-Market Sector +0.7% Aerospace & Defense Power & Electrification Automation & Industrial Solutions Infrastructure Industrial Transportation & Mobility
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$75 $87 3Q-25 3Q-26 $391 $440 3Q-25 3Q-26 3Q 2026 Segment Performance 10 Certain data presented above has been rounded for presentation purposes. Sales from acquisitions added 5.3% from the same period last year and currency was -0.2%. Organic sales up 7.3% YOY Net Sales ($M) Industrial Motion 19.0% 19.8% Adjusted EBITDA ($M) +12.4% Aerospace & Defense Power & Electrification Automation & Industrial Solutions Infrastructure Industrial Transportation & Mobility Q3 Organic Sales by End-Market Sector
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Cash Flow, Leverage & Capital Allocation 11 Free cash flow is defined as net cash provided by operating activities minus capital expenditures. See appendix for reconciliations of free cash flow, net debt, adjusted EBITDA and the ratio of net debt to adjusted EBITDA to their most directly comparable GAAP equivalents. 12/31/25 09/30/26 Cash $ 364 $ 410 Total Debt 1,922 1,935 Net Debt $1,558 $1,525 Adj. EBITDA (TTM) $ 796 $ 881 Net Debt/Adj. EBITDA 2.0x 1.7x Capital Structure ($M) Repurchased 504K shares in 3Q-26 (941K YTD) Paid 417th consecutive quarterly dividend in 3Q-26 ($0.36/share) Completed the sale of the belts business ($M) 3Q-25 3Q-26 Net Cash from Operations $201.1 $256.1 Capital Expenditures (37.3) (34.7) Free Cash Flow (FCF) $163.8 $221.4
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2026 Outlook
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2026 Outlook 13 See appendix for reconciliations of adjusted EPS, adjusted EBITDA margins and free cash flow to their most directly comparable GAAP financial measures. Free cash flow is defined as net cash provided by operating activities minus capital expenditures. Prior Outlook (Apr. 30, 2025) Sales of +5.5% at midpoint (organic: +3.5%; FX: +1.25%; M&A: +0.75%) Adj. EBITDA margins in the mid-18’s% range (vs. 17.4% in 2025) Adj. EPS range of $6.35-$6.50, up ~20% at midpoint (vs. $5.33 in 2025) Free cash flow of $375M-$400M Current Outlook: Full-Year 2026 vs. 2025 FY-26 modeling assumptions: • Adj. tax rate: 26.5% • Interest expense: ~$92M • Noncontrolling interest: ~$28M • CapEx: ~3.1% of sales • Diluted shares: ~70M Prior Outlook August 4, 2026 Current Outlook November 4, 2026 Net Sales +5% to +6% +5.5% Adjusted EPS $6.05 to $6.35 $6.35 to $6.50 Free Cash Flow $375M to $400M $375M to $400M
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Organic Growth Outlook – FY 2026 by Market/Sector 14 End-Market Sector 2026 Outlook % of 2025 Sales Aerospace & Defense Up MSD 12% Automation & Industrial Solutions Up HSD 27% Infrastructure Up MSD 23% Power & Electrification Down MSD* 9% Industrial Transportation & Mobility Flat to +/- LSD 16% Total Organic Sales +3.5% (unchanged) LSD = low-single digit percentage change MSD = mid-single digit percentage change HSD = high-single digit percentage change *The change in the Power & Electrification end-market sector outlook (vs. the previous outlook provided on August 4, 2026) is driven by lower wind energy sales in China End-Market Sector Placement Reflects Midpoint of Outlook and includes volumes and pricing. Note: End-market sector sales mix does not add up to 100% as ‘Other’ is not included for presentation purposes. Other primarily consists of automotive. See previous slide for reconciliation of organic revenue to its most directly comparable GAAP financial measure. Green = higher versus prior guide Red = lower versus prior guide
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2026 Adj. EPS Outlook Bridge (vs. August Outlook) 15 Prior 2026 Adj. EPS Outlook* Organic (net)** 3Q-26 net IEEPA Refunds Interest expense New 2026 Adj. EPS Outlook* $6.20 ~$0.02 Note: The implied 4Q-26 adj. EPS outlook does not include any potential net impact from IEEPA. * Based on midpoint of outlook range ** Organic (net) reflects the incremental net impact of organic volume, including manufacturing cost absorption impact, cost inflation and price/mix See appendix for reconciliations of adjusted EPS to its most directly comparable GAAP financial measure. ~$0.08 $6.43 Adj. EBITDA Margin*: low-18’s% Adj. EBITDA Margin*: mid-18’s% Based on Midpoint of Outlook Ranges ~$0.13
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Appendix: Backup Slides and GAAP Reconciliations
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17 75% 25% 45% 55% 75% 25% 80% 20%45% 55% 12% of Sales Attractive End-Market Sector Sales Mix Note: End-market sector and segment sales mix is based on actual sales for 2025. End-market sector sales mix does not add up to 100% as ‘Other’ is not included for presentation purposes. Other primarily consists of automotive. Certain data above has been rounded for presentation purposes. Power & Electrification Infrastructure Industrial Transportation & Mobility Automation & Industrial Solutions Aerospace & Defense Engineered Bearings Industrial Motion 9% of Sales 27% of Sales 23% of Sales 16% of Sales
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2022 2025 2028E > Commercial Aerospace > Defense & Naval Focused on Strategic Verticals to Deliver Strong Growth 1. Timken estimated sales CAGR % from 2025-28 for the strategic verticals: Commercial Aerospace, Defense & Naval, Power Generation, Renewable Energy, Automation & Robotics, Food & Beverage, Construction, Mining, Marine, Rail Denotes Timken sales outgrowth of the Strategic Verticals compared to the rest of the business during these periods / LSD = low-single digit percentage; HSD = high-single digit percentage Note: Strategic verticals growth outlook as originally presented on May 20, 2026, which has not been updated since. Power & Electrification Infrastructure Industrial Transportation & Mobility Automation & Industrial Solutions Aerospace & Defense > Power Generation > Renewable Energy > Automation & Robotics > Food & Beverage > Construction > Mining > Marine > Rail End-Market Sectors Strategic Verticals <50% ~50% ~55% Strategic Verticals Expected to Grow HSD CAGR % of Total Company Sales +500 bps above rest of business >500 bps above rest of business 1 18
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19 Why Timken 1. Over the 3-year period: 2026E-2028E Note: Financial targets as originally presented on May 20, 2026, which have not been updated since. Free cash flow is defined as net cash provided by operating activities minus capital expenditures. Leadership in mission-critical motion systems Attractive end-market sector exposure with high aftermarket mix Strong balance sheet and cash flow generation Strong Foundation to Build On Committed to Financial Targets 2028E $5.0-5.2B revenue 21–23% adj. EBITDA margin >55% adj. EPS growth ~$1.3B cumulative free cash flow1 Strategic Verticals Aligned with Megatrends Automation & Robotics AI-Driven Power Demand and Electrification Aerospace & Defense Spending Urban Infrastructure Buildout Elevate to Outperform Pillar 1: Optimize the Portfolio Pillar 2: Focus Resources to Strategic Verticals Pillar 3: Leverage Our Multinational Footprint
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Reconciliations of Adjusted Net Income to GAAP Net Income and Adjusted Earnings Per Share to GAAP Earnings Per Share: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes that the non-GAAP measures of adjusted net income and adjusted diluted earnings per share are important financial measures used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes that reporting adjusted net income and adjusted diluted earnings per share is useful to investors as these measures are representative of the Company's core operations. (Dollars in millions, except share data) Three Months Ended September 30, Nine Months Ended September 30, 2026 EPS 2025 EPS 2026 EPS 2025 EPS Net Income Attributable to The Timken Company $ 93.8 $ 1.34 $ 69.3 $ 0.99 $ 220.9 $ 3.15 $ 226.1 $ 3.22 Adjustments: (1) Acquisition intangible amortization $ 20.3 $ 20.2 $ 61.6 $ 59.1 Impairment, restructuring and reorganization charges (2) 6.7 4.8 20.6 13.0 Acquisition-related charges (3) 2.0 — 7.2 — Belts impairment, restructuring and reorganization charges (4) (4.0) — 90.4 — Gain on divestitures and the sale of certain assets (5) (0.6) (0.5) (0.6) (1.8) CEO transition expenses (6) — 6.7 — 18.5 Noncontrolling interest of above adjustments (7) (0.1) — 0.2 4.8 Provision for income taxes (8) (3.0) (4.3) (39.5) (25.6) Total Adjustments: 21.3 0.31 26.9 0.38 139.9 2.00 68.0 0.97 Adjusted Net Income Attributable to The Timken Company $ 115.1 $ 1.65 $ 96.2 $ 1.37 $ 360.8 $ 5.15 $ 294.1 $ 4.19 (1) Adjustments are pre-tax, with the net tax provision listed separately. (2) Impairment, restructuring and reorganization charges (including items recorded in cost of products sold) relate to: (i) plant closures; (ii) the rationalization of certain plants; (iii) severance related to cost reduction initiatives; (iv) impairment of assets; and (v) related depreciation and amortization. The Company re-assesses its operating footprint and cost structure periodically, and makes adjustments as needed that result in restructuring charges. However, management believes these actions are not representative of the Company’s core operations. (3) Acquisition-related charges represent deal-related expenses associated with completed transactions and any resulting inventory step-up impact. (4) On April 29, 2026, the Company entered into a definitive agreement to sell certain assets of its belts business to Gates Industrial Corporation Ltd. The transaction closed on September 28, 2026. In connection with the sale, the Company also announced the closure of its belts manufacturing facility in Springfield, Missouri. As a result, the Company recorded impairment, restructuring and reorganization charges of $90.4 million related to these activities during the nine months ended September 30, 2026. (5) Represents the net gain resulting from divestitures and the sale of certain assets. (6) On March 31, 2025, the Company announced that Tarak B. Mehta, President and Chief Executive Officer ("CEO") of the Company would be departing from the Company, effective immediately, and Richard G. Kyle would be serving as interim President and CEO. CEO transition expenses primarily relate to the cost of the settlement agreement with Mr. Mehta in connection with his departure, net of the impact for stock awards forfeited, and incremental stock compensation expense related to a deferred share award issued to Mr. Kyle. (7) Represents the noncontrolling interest impact of the adjustments listed above, as well as the reversal of uncertain tax positions related to Timken India Limited. (8) Provision for income taxes includes the net tax impact on pre-tax adjustments (listed above), the impact of discrete tax items recorded during the respective periods as well as other adjustments to reflect the use of one overall effective tax rate on adjusted pre-tax income in interim periods. GAAP Reconciliation: Net Income & EPS 20
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Reconciliations of Adjusted Net Income to GAAP Net Income and Adjusted Earnings Per Share to GAAP Earnings Per Share: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes that the non-GAAP measures of adjusted net income and adjusted diluted earnings per share are important financial measures used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes that reporting adjusted net income and adjusted diluted earnings per share is useful to investors as these measures are representative of the Company's core operations. (Dollars in millions, except share data) 2025 Net Income Attributable to The Timken Company $ 288.4 Adjustments: (1) Acquisition intangible amortization $ 79.1 Impairment, restructuring and reorganization charges (2) 21.8 Corporate pension and other postretirement benefit related expense (3) 10.8 Gain on sale of certain assets (4) (2.6) CEO transition expenses (5) 20.8 Noncontrolling interest of above adjustments (6) 4.9 Provision for income taxes (7) (48.7) Total Adjustments: 86.1 Adjusted Net Income Attributable to The Timken Company $ 374.5 Diluted Earnings per Share (EPS) $ 4.11 Adjusted EPS $ 5.33 Diluted Shares 70,231,706 (1) Adjustments are pre-tax, with the net tax provision listed separately. (2) Impairment, restructuring and reorganization charges (including items recorded in cost of products sold) relate to: (i) plant closures; (ii) the rationalization of certain plants; (iii) severance related to cost reduction initiatives; (iv) impairment of assets; and (v) related depreciation and amortization. The Company re -assesses its operating footprint and cost structure periodically, and makes adjustments as needed that result in restructuring charges. However, management believes these actions are not representative of the Company’s core operations. (3) Corporate pension and other postretirement benefit related expense represents actuarial losses that resulted from the remeasu rement of plan assets and obligations as a result of changes in assumptions or experience. The Company recognizes actuarial losses and gains in connection with the annual remeasurement in the fourth quart er, or if specific events trigger a remeasurement. Refer to the Retirement Benefit Plans and Other Postretirement Benefit Plans footnotes within the Company's annual reports on Form 10 -K and quarterly reports on Form 10-Q for additional discussion. (4) Represents the net gain resulting from the sale of certain assets. (5) On August 22, 2025, the Company announced the appointment of Lucian Boldea as President and Chief Executive Officer ("CEO"), effective September 1, 2025, and that Richard G. Kyle would retire from the role of interim President and CEO. On March 31, 2025, the Company announced that Tarak B. Mehta, President and CEO of the Company wou ld be departing from the Company, effective immediately, and Mr. Kyle would be serving as interim President and CEO. CEO transition expenses primarily relate to the cost of the settlement agreement with M r. Mehta in connection with his departure, net of the impact for stock awards forfeited, the acceleration of certain stock compensation awards issued to Mr. Kyle, and other one -time costs associated with the transition in 2025. (6) Represents the noncontrolling interest impact of the adjustments listed above, as well as the reversal of uncertain tax posit ions related to Timken India Limited. (7) Provision for income taxes includes the net tax impact on pre -tax adjustments (listed above), the impact of discrete tax items recorded during the respective periods as well as other adjustments to reflect the use of one overall effective tax rate on adjusted pre -tax income in interim periods. GAAP Reconciliation: 2025 Net Income & EPS 21
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GAAP Reconciliation: EBITDA and EBITDA, After Adjustments to GAAP Net Income Reconciliation of EBITDA to GAAP Net Income, EBITDA Margin to Net Income as a Percentage of Sales, and EBITDA Margin, After A djustments, to Net Income as a Percentage of Sales, and EBITDA, After Adjustments, to Net Income: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP measure that is useful to investors as it is representative of the Company's performance and that it is appropriate to compare GAAP net income to consolidated EBITDA. Management also believes that adjusted EBITDA, adjusted EBITDA margin and EBITDA margin are useful to investors as they are representative of the Company's core operations and are used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2026 Percentage to Net Sales 2025 Percentage to Net Sales 2026 Percentage to Net Sales 2025 Percentage to Net Sales Net Income $ 99.7 8.2 % $ 74.3 6.4 % $ 242.8 6.6 % $ 251.4 7.2 % Provision for income taxes 40.7 33.2 98.4 90.8 Interest expense 25.8 27.3 76.3 83.6 Interest income (2.9) (2.4) (7.1) (7.7) Depreciation and amortization 58.9 58.6 177.5 170.9 Consolidated EBITDA $ 222.2 18.3 % $ 191.0 16.5 % $ 587.9 15.9 % $ 589.0 17.0 % Adjustments: Impairment, restructuring and reorganization charges (1) $ 5.0 $ 4.5 $ 17.9 $ 12.3 Acquisition-related charges (2) 2.0 — 7.2 — Belts impairment, restructuring and reorganization charges (3) (4.0) — 90.4 — Gain on divestitures and the sale of certain assets (4) (0.6) (0.5) (0.6) (1.8) CEO transition expenses (5) — 6.7 — 18.5 Total Adjustments 2.4 0.2 % 10.7 0.9 % 114.9 3.1 % 29.0 0.8 % Adjusted EBITDA $ 224.6 18.5 % $ 201.7 17.4 % $ 702.8 19.0 % $ 618.0 17.8 % (1) Impairment, restructuring and reorganization charges (including items recorded in cost of products sold) relate to: (i) plant closures; (ii) the rationalization of certain plants; (iii) severance related to cost reduction initiatives; and (iv) impairment of assets. The Company re-assesses its operating footprint and cost structure periodically, and makes adjustments as needed that result in restructuring charges. However, management believes these actions are not representative of the Company’s core operations. (2) Acquisition-related charges represent deal-related expenses associated with completed transactions and any resulting inventory step-up impact. (3) On April 29, 2026, the Company entered into a definitive agreement to sell certain assets of its belts business to Gates Industrial Corporation Ltd. The transaction closed on September 28, 2026. In connection with the sale, the Company also announced the closure of its belts manufacturing facility in Springfield, Missouri. As a result, the Company recorded impairment, restructuring and reorganization charges of $90.4 million related to these activities during the nine months ended September 30, 2026. (4) Represents the net gain resulting from divestitures and the sale of certain assets. (5) On March 31, 2025, the Company announced that Tarak B. Mehta, President and CEO of the Company, would be departing from the Company, effective immediately, and Richard G. Kyle would be serving as interim President and CEO. CEO transition expenses primarily relate to the cost of the settlement agreement with Mr. Mehta in connection with his departure, net of the impact for stock awards forfeited, and incremental stock compensation expense related to a deferred share award issued to Mr. Kyle. 22
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Reconciliations of GAAP to Non-GAAP Measures: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP measure that is useful to investors as it is representative of the Company's performance and that it is appropriate to compare GAAP net income to consolidated EBITDA. Management also believes that non-GAAP measures adjusted EBITDA and adjusted EBITDA margin are useful to investors as they are representative of the Company's core operations and are used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Reconciliation of Adjusted EBITDA and Margin 2025 Net Sales $ 4,581.8 Net Income 317.3 Provision for income taxes 98.7 Interest expense, net 100.0 Depreciation and amortization 230.1 Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) $ 746.1 Adjustments: Impairment, restructuring and reorganization charges (1) $ 20.7 Corporate pension and other postretirement benefit related expense (2) 10.8 Gain on sale of certain assets (3) (2.6) CEO transition expenses (4) 20.8 Total Adjustments 49.7 Adjusted EBITDA $ 795.8 Adjusted EBITDA Margin (% of net Sales) 17.4 % (1) Impairment, restructuring and reorganization charges (including items recorded in cost of products sold) relate to: (i) plant closures; (ii) the rationalization of certain plants; (iii) severance related to cost reduction initiatives; and (iv) impairment of assets. The Company re-assesses its operating footprint and cost structure periodically, and makes adjustments as needed that result in restructuring charges. However, management believes these actions are not representative of the Company’s core operations. (2) Corporate pension and other postretirement benefit related expense represents actuarial losses that resulted from the remeasurement of plan assets and obligations as a result of changes in assumptions or experience. The Company recognizes actuarial losses and gains in connection with the annual remeasurement in the fourth quarter, or if specific events trigger a remeasurement. Refer to the Retirement Benefit Plans and Other Postretirement Benefit Plans footnotes within the Company's annual reports on Form 10-K and quarterly reports on Form 10-Q for additional discussion. (3) Represents the net gain resulting from the sale of certain assets. (4) On August 22, 2025, the Company announced the appointment of Lucian Boldea as President and CEO, effective September 1, 2025, and that Richard G. Kyle would retire from the role of interim President and CEO. On March 31, 2025, the Company announced that Tarak B. Mehta, President and CEO of the Company would be departing from the Company, effective immediately, and Mr. Kyle would be serving as interim President and CEO. CEO transition expenses primarily relate to the cost of the settlement agreement with Mr. Mehta in connection with his departure, net of the impact for stock awards forfeited, the acceleration of certain stock compensation awards issued to Mr. Kyle, and other one-time costs associated with the transition in 2025. GAAP Reconciliation: 2025 EBITDA, and EBITDA, After Adjustments to Net Income 23
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GAAP Reconciliation: Net Debt & Free Cash Flow Reconciliation of Total Debt to Net Debt, the Ratio of Net Debt to Capital, and the Ratio of Net Debt to Adjusted EBITDA: (Unaudited) These reconciliations are provided as additional relevant information about the Company's financial position deemed useful to investors. Capital, used for the ratio of net debt to capital, is a non-GAAP measure defined as total debt less cash and cash equivalents plus total shareholders' equity. Management believes Net Debt, the Ratio of Net Debt to Capital, Adjusted EBITDA (see next page of GAAP reconciliations), and the Ratio of Net Debt to Adjusted EBITDA are important measures of the Company's financial position, due to the amount of cash and cash equivalents on hand. The Company presents net debt to adjusted EBITDA because it believes it is more representative of the Company's financial position as it is reflective of the ability to cover its net debt obligations with results from its core operations. (Dollars in millions) September 30, 2026 December 31, 2025 Short-term debt, including current portion of long -term debt $ 189.5 $ 38.9 Long-term debt 1,745.2 1,883.1 Total Debt $ 1,934.7 $ 1,922.0 Less: Cash and cash equivalents (410.2) (364.4) Net Debt $ 1,524.5 $ 1,557.6 Total Equity $ 3,366.4 $ 3,345.7 Ratio of Net Debt to Capital 31.2 % 31.8 % Adjusted EBITDA for the Twelve Months Ended $ 880.6 $ 795.8 Ratio of Net Debt to Adjusted EBITDA 1.7 2.0 Reconciliation of Free Cash Flow to GAAP Net Cash Provided by Operating Activities: (Unaudited) Management believes that free cash flow is a non-GAAP measure that is useful to investors because it is a meaningful indicator of cash generated from operating activities available for the execution of its business strategy. (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net cash provided by operating activities $ 256.1 $ 201.1 $ 402.5 $ 371.0 Less: capital expenditures (34.7) (37.3) (100.1) (105.6) Free cash flow $ 221.4 $ 163.8 $ 302.4 $ 265.4 24
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GAAP Reconciliation: Consolidated EBITDA Reconciliation of EBITDA and EBITDA, After Adjustments, to GAAP Net Income: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP measure that is useful to investors as it is representative of the Company's performance and that it is appropriate to compare GAAP net income to consolidated EBITDA. Management also believes that the non-GAAP measure of adjusted EBITDA is useful to investors as it is representative of the Company's core operations and is used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. (Dollars in millions) Twelve Months Ended September 30, 2026 Twelve Months Ended December 31, 2025 Net Income $ 308.7 $ 317.3 Provision for income taxes 106.3 98.7 Interest expense 103.0 110.3 Interest income (9.7) (10.3) Depreciation and amortization 236.7 230.1 Consolidated EBITDA $ 745.0 $ 746.1 Adjustments: Impairment, restructuring and reorganization charges (1) $ 26.3 $ 20.7 Corporate pension and other postretirement benefit related expense (2) 10.8 10.8 Acquisition-related charges (3) 7.2 — Belts impairment, restructuring and reorganization charges (4) 90.4 — Gain on sale of certain assets (5) (1.4) (2.6) CEO transition expenses (6) 2.3 20.8 Total Adjustments 135.6 49.7 Adjusted EBITDA $ 880.6 $ 795.8 (1) Impairment, restructuring and reorganization charges (including items recorded in cost of products sold) relate to: (i) plant closures; (ii) the rationalization of certain plants; (iii) severance related to cost reduction initiatives; and (iv) impairment of assets. The Company re-assesses its operating footprint and cost structure periodically, and makes adjustments as needed that result in restructuring charges. However, management believes these actions are not representative of the Company’s core operations. (2) Corporate pension and other postretirement benefit related expense represents actuarial losses that resulted from the remeasurement of plan assets and obligations as a result of changes in assumptions or experience. The Company recognizes actuarial losses and gains in connection with the annual remeasurement in the fourth quarter, or if specific events trigger a remeasurement. (3) Acquisition-related charges represent deal-related expenses associated with completed transactions and any resulting inventory step-up impact. (4) On April 29, 2026, the Company entered into a definitive agreement to sell certain assets of its belts business to Gates Industrial Corporation Ltd. The transaction closed on September 28, 2026. In connection with the sale, the Company also announced the closure of its belts manufacturing facility in Springfield, Missouri. As a result, the Company recorded impairment, restructuring and reorganization charges of $90.4 million related to these activities during the nine months ended September 30, 2026. (5) Represents the net gain resulting from sale of certain assets. (6) On August 22, 2025, the Company announced the appointment of Lucian Boldea as President and CEO, effective September 1, 2025, and that Richard G. Kyle would retire from the role of interim President and CEO. On March 31, 2025, the Company announced that Tarak B. Mehta, President and CEO of the Company would be departing from the Company, effective immediately, and Mr. Kyle would be serving as interim President and CEO. CEO transition expenses for the twelve months ended December 31, 2025, primarily relate to the cost of the settlement agreement with Mr. Mehta in connection with his departure, net of the impact for stock awards forfeited, the acceleration of certain stock compensation awards issued to Mr. Kyle, and other one-time costs associated with the transition in 2025. 25
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Reconciliation of Adjusted Earnings per Share to GAAP Earnings per Share for Full Year 2026 Outlook: (Unaudited) The following reconciliation is provided as additional relevant information about the Company's outlook deemed useful to investors. Forecasted full year adjusted diluted earnings per share is an important financial measure that management believes is useful to investors as it is representative of the Company's expectation for the performance of its core business operations. Low End Earnings Per Share High End Earnings Per Share Forecasted full year GAAP diluted earnings per share $ 4.05 $ 4.20 Forecasted Adjustments: Impairment, restructuring and other special items, net (1) 1.45 1.45 Acquisition-related intangible amortization expense, net 0.85 0.85 Forecasted full year adjusted diluted earnings per share $ 6.35 $ 6.50 (1) Impairment, restructuring and other special items, net do not include the impact of any potential future mark-to-market pension and other postretirement remeasurement adjustments, because the amounts will not be known until incurred. Reconciliation of Free Cash Flow to GAAP Net Cash Provided by Operating Activities in Full Year 2026 Outlook: (Unaudited) Forecasted full year free cash flow is a non-GAAP measure that is useful to investors because it is representative of the Compan y's expectation of cash that will be generated from operating activities and available for the execution of its business strategy. Reconciliation of Free Cash Flow Low End Free Cash Flow Outlook High End Free Cash Flow Outlook Net cash provided from operating activities $ 525.0 $ 550.0 Less: capital expenditures 150.0 150.0 Free cash flow $ 375.0 $ 400.0 GAAP Reconciliation: Adjusted EPS and Free Cash Flow Outlook 26
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GAAP Reconciliation: Net Sales to Organic Sales Reconciliation of Net Sales to Organic Sales (Unaudited) The following reconciliation is provided as additional relevant information about the Company's performance deemed useful to investors. Management believes that net sales, excluding the impact of acquisitions and foreign currency exchange rate changes, allow investors and the Company to meaningfully evaluate the percentage change in net sales on a comparable basis from period to period. Total Company Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 $ Change % Change Net sales $ 1,211.4 $ 1,157.1 $ 54.3 4.7 % Less: Acquisitions 20.7 — 20.7 NM Currency 1.3 — 1.3 NM Net sales, excluding the impact of acquisitions and currency $ 1,189.4 $ 1,157.1 $ 32.3 2.8 % Engineered Bearings Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 $ Change % Change Net sales $ 771.4 $ 765.8 $ 5.6 0.7 % Less: Currency 2.0 — 2.0 NM Net sales, excluding the impact of currency $ 769.4 $ 765.8 $ 3.6 0.5 % Industrial Motion Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 $ Change % Change Net sales $ 440.0 $ 391.3 $ 48.7 12.4 % Less: Acquisitions 20.7 — 20.7 NM Currency (0.7) — (0.7) NM Net sales, excluding the impact of acquisitions and currency $ 420.0 $ 391.3 $ 28.7 7.3 % 27