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© 2025 Watts Water Technologies, Inc. WATTS WATER INVESTOR PRESENTATION November 2025
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© 2025 Watts Water Technologies, Inc. Forward Looking Statements Certain statements in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are related to forecasts of sales, margins, earnings, earnings per share, effective tax rate, capital expenditures, cash flow, water market growth, acquisition strategy and integration, construction outlook, inflation and management goals and objectives. Watts cautions investors that any such forward-looking statements made by Watts are not guarantees of future performance. All forward-looking statements are subject to known and unknown risks, uncertainties, and contingencies, many of which are beyond the control of Watts, which may cause actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Factors that might affect forward-looking statements include overall economic and business conditions, changes in tariff rates, competitive factors, changes in laws affecting Watts, future acquisitions of material assets or businesses by Watts, the demand for Watts’ products and services and other factors identified in “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and in subsequent reports filed with the SEC. 2
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© 2025 Watts Water Technologies, Inc. Key Messages Global water solutions leader in commercial, residential and light industrial end markets Industry leading brands aligned with long-term secular trends; large installed base provides strong repair and replacement footprint Driving profitable growth through innovation and smart & connected offerings Significant cash flow generation and flexible balance sheet to support balanced capital deployment 3 1 2 3 4
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© 2025 Watts Water Technologies, Inc. 60%24% 11% 5% Product Categories Residential & Comm. Flow Control HVAC & Gas Drainage & Water Re-use Water Quality 65% 35% Non-Residential Residential 60% 40% Repair & Replace New Construction Watts Water Snapshot (NYSE: WTS) Global Leader in Commercial, Residential and Light Industrial Water Solutions See Appendix for reconciliation of non-GAAP measures to their corresponding GAAP measures. 2024 Key Statistics With 5 Year Performance vs. 2019 $8.86 Adj. EPS +17% CAGR 17.7% Adj. Operating Margin +480 bps Expansion $1.72 Dividends +13% CAGR 19.8% ROIC (GAAP) +640 bps Expansion 106% 5-yr Avg Reinvestment Ratio 112% 5-yr Avg Free Cash Flow Conversion 74% 20% 6% Geography Americas Europe APMEA End Markets End Markets $2.3B Net Sales 7% CAGR 4 66% 11% 19% 4% Channels Wholesale OEM Specialty DIY
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© 2025 Watts Water Technologies, Inc. North Andover, MA Headquarters ~5,000 Employees 5 Continents 36 Principal Worldwide Locations Strong Global Footprint 5 Corporate Headquarters 1 Distribution Centers 4 Manufacturing Sites with Distribution 9 Manufacturing Sites 3 Region Count 17 Distribution Centers 2 Manufacturing Sites with Distribution 5 Manufacturing Sites 4 Region Count 11 Region Headquarters 1 Distribution Centers 4 Manufacturing Sites with Distribution 2 Manufacturing Sites 1 Region Count 8 Note: Shaded countries indicate principal locations.
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© 2025 Watts Water Technologies, Inc. Aligning the Business to Secular Growth Trends Secular Growth Trends 6 Competitive Advantages Position Watts to Leverage Long-term Secular Growth Trends Global Footprint Broad Product Portfolio Manufacturing Expertise Proven Track Record Technology and Innovation Diverse End Market Exposure Vertical integration keeps production near customers and reduces supply chain Code and specification driven; Extensive certification process Driving operational efficiencies with One Watts Performance System 150-year history with large installed base and deep customer relationships; Leadership in regulatory code development Investing in R&D; Expanding Smart and Connected portfolio to drive growth Diverse exposure to residential, non- residential and light industrial end markets Competitive Advantages ▪ Safety and regulation – high performing products to safeguard critical water systems ▪ Energy efficiency – engineered high efficiency heating and hot water products ▪ Water conservation – valves, drainage, washroom and leak detection capabilities to conserve water
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© 2025 Watts Water Technologies, Inc. Large and Diverse Addressable Markets 7 Balanced Portfolio Provides Springboard for Future Growth 1 Based on Company estimates of global market. Single-family Residential Institutional / Educational Light Industrial Multi-family Residential Hospitality – Hotel Hospitality – Food Service HealthcareData Centers / Mega Projects END MARKETS ~$20B Total Available Market Opportunity1
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© 2025 Watts Water Technologies, Inc. Broad Range of Industry-leading Products and Solutions 8 High Quality Products and Solutions for the Conveyance, Conservation, Control and Safe Use of Water Safeguarding water systems through backflow preventers, regulators, relief valves, thermostatic mixing valves, leak detection, commercial washroom and emergency safety solutions Advanced high-efficiency boilers, water heaters, under- floor heating solutions and controls designed to optimize energy efficiency Point-of-use and point-of- entry filtration, monitoring, conditioning and scale prevention systems High performance drainage systems and engineered rainwater harvesting solutions for commercial, industrial, marine and residential uses Residential and Commercial Flow Control Solutions Water Quality Solutions Drainage & Water Re-use Solutions Heating & Hot Water Solutions
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© 2025 Watts Water Technologies, Inc. Eyewash Systems • Full Body Systems • Handheld Showers • Shower Skids Commercial Offerings ~65% of Sales; More Complexity / Systems Boiler / Mechanical Room Water Safety / Fire Protection / Irrigation Backflow Preventers • Cross Connection Systems • Isolation Valves • Automatic Control Valves • Pressure Reducing Valves • Ball, Gate, & Butterfly Valves • Thermostatic Mixing Valves Driveway / Sidewalk Gas Connectors • Stainless Steel Drains • Point of Use Filtration Systems Commercial / Institutional Washroom Water Quality Drainage Leak Detection 9 Hand Washing Stations • Tapware • Fixtures • Shower Valves • Partitions • Locker Systems • Lavatory Carriers • Correctional Controllers Guestroom Shower Valves • Shower Drains • Underfloor Heating • Thermostats Cast Iron & Trench • Stainless Steel Drains & Pipe • Rainwater Harvesting • Roofs, Parking Garages, Bathrooms, Kitchens Hot Water Heaters / Boilers • Digital Thermostatic Mixing Stations • Boiler & Pump Controls • Temperature and Pressure Sensors Anti-Scale Systems • Ballast Water • Water Softeners • SmartStream UV System• Salt & Chemical Free Conditioners Wireless Leak Detection & Notification Commercial KitchensIndustrial Safety Electronic Temperature Controls • Snow Melt Hydronic Systems • Manifolds
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© 2025 Watts Water Technologies, Inc. Boiler / Mechanical Room T&P Relief Valves • Tempering Valves • Pressure Reducing Valves • Expansion Tanks • Temperature & Pressure Gauges • Air Separators • Anti-Scale Systems Living Room Control Panel / Thermostat • Radiant Underfloor Heating Water Quality Whole House Filtration Systems • Water Softeners • SmartStream UV Disinfection Systems • Anti-Scale Systems Driveway / Sidewalk Snow Melt Hydronic Systems • Electronic Temperature Controls • Manifolds • Quick Connect Fittings • Hydrocontrol Panels Residential Offerings ~35% of Sales; Comprehensive Product Range Irrigation Backflow Preventers • Pressure Reducing Valves • Flow Control Valves Laundry Room Gas Ball Valves & Connectors • SmartSense Excess Flow Valve & Thermal Shutoff • IntelliFlow Automatic Washing Machine Shutoff Valves Bathroom Tempering Valves • Electric Tile Warming • Stainless Steel Shower Drains • Hot Water on Demand Recirculation Kitchen Undersink Thermostatic Mixing Valves • Reverse Osmosis Water • Filtration Systems • Electric Tile Warming • SmartSense Excess Flow Valve & Thermal Shutoff Leak Detection Wireless Leak Detection 10 Water Safety Backflow Preventers • Pressure Reducing Valves
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© 2025 Watts Water Technologies, Inc. Driving Value Creation Through Sustainability Strategy Access Our Full 2024 Sustainability Report Here 11 RECOGNITIONS SUSTAINABILITY PILLARS AND 2024 PROGRESS EXAMPLES Footprint >80 M Liters of water reduced since 2014 ~950 MT Absolute CO2 reduction in 2024 Handprint ~93K MT Reduction in CO2 emissions for customers with AERCO, PVI and Lync heating solutions in 2024 30 Products with Environmental Product Declarations Social Responsibility Zero Recordable injuries at 18 operating sites; 50% improvement in TRIR since 2020 >8K Quick kaizens submitted by employees through our OWPS program Corporate Governance 100% New supplier conformance to Supplier ESG Standards 500 Supplier Quality Audits completed globally SOLVING CUSTOMERS’ CHALLENGES ACROSS OUR “TRIPLE PLAY” CHALLENGE SOLUTION Safety & Regulation Costly property damage from debris build up Smart Strainers: Monitoring system sends real-time alerts so strainer can be flushed proactively Water Conservation Monitoring and managing water usage in commercial buildings Nexa: Intelligent water management platform with advanced sensor tech to collect real-time system data Energy Efficiency Inefficient water heating with traditional thermostatic mixing valves Powers IntelliStation 2: Optimizes energy usage through tighter, programmable temperature control
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© 2025 Watts Water Technologies, Inc. Experienced Executive Leadership Team 12 The Right Leadership in Place to Lead Watts Forward Strong Management Team with Sound Execution Track Record ✓ Long-standing management team with an average tenure of ~10 years ✓ Significant industry knowledge and experience allowing to identify and solve critical water challenges through utilizing global team and best-in-class R&D capabilities ✓ Experienced finance and strategy-oriented team focused on maintaining a strong balance sheet and balanced capital deployment Monica Barry Chief Human Resource Officer Previously at Colfax Corporation Joined WTS: 2021 Bob Pagano CEO, President and Chairperson Previously at ITT Corporation Joined WTS: 2014 Elie Melhem President, Asia Pacific, The Middle East, Africa Previously at Ariston Thermo Group Joined WTS: 2011 Kenneth Lepage General Counsel Chief Sustainability Officer Secretary Joined WTS: 2003 Kim Trevisan Chief Information Officer Previously at Old Castle APG Joined WTS: 2025 Ram Ramakrishnan Executive Vice President, Strategy and Business Development Previously at Avery Dennison Corporation Joined WTS: 2013 Andre Dhawan Chief Operating Officer Previously at Vontier Corporation Joined WTS: 2022 James F. Dagley President of Watts Applied Solutions Previously at Johnson Controls Joined WTS: 2016 Diane McClintock Chief Financial Officer Previously at AutoImmune Inc. Joined WTS: 2010
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© 2025 Watts Water Technologies, Inc. Engaged and Accountable Board of Directors 13 Director Skillset and Attributes Support Long-term Strategy Board Skillsets and Attributes ✓ Operational & C-Suite Experience ✓ International Markets Exposure ✓ Public Company Board Experience ✓ Global Manufacturing ✓ Relevant End Market Exposure ✓ Business Ethics ✓ eCommerce / Digital ✓ Finance / M&A 61 Years Avg. Age 8 Years Avg. Tenure Bob Pagano CEO, President and Chairperson Joined WTS: 2014 Michael Dubose CEO, B2B Industrial Packaging Joined WTS: 2020 Joseph Noonan eCommerce Entrepreneur; Horne Family Member Joined WTS: 2013 Joseph Reitmeier Retired EVP, Lennox International Inc. Joined WTS: 2016 David Dunbar Lead Independent Director President and CEO, Standex International Corp. Joined WTS: 2017 Merilee Raines Retired CFO, IDEXX Laboratories, Inc. Joined WTS: 2011 Rebecca Boll Chief Customer Officer, Fortescue Zero Joined WTS: 2024 Kenneth Napolitano Retired President of Applied Water Systems, Xylem Inc. Joined WTS: 2024 Louise Goeser Retired President and CEO, Grupo Siemens S.A. de C.V. Joined WTS: 2018 Suzanne L. Stefany Senior Advisor, PJT Partners Joined WTS: 2025
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© 2025 Watts Water Technologies, Inc. 2025 I-CON Systems Leading provider of plumbing control solutions primarily for correctional facilities within the institutional end market Disciplined M&A Strategy Strategic Acquisition Criteria ▪ Core or complementary markets ▪ Brand name products, market leadership ▪ Access to new markets, channels and geographies ▪ Product offering expansion, including new / improved technology ▪ Increase in shelf space with existing customers 14 Financial Criteria ▪ ROIC > cost of capital within 3 – 5 years ▪ Accretive to EPS in year 1 ▪ Accretive to EBITDA margin within 3 – 5 years History of Successful Bolt-on Acquisitions 2024 Josam Company Leading provider and manufacturer of drainage and plumbing products offering customized products to commercial and multi-family end markets 2023 Enware Leading supplier for specialty plumbing and safety equipment used in Australian institutional and commercial end markets 2023 Bradley Corporation a comprehensive portfolio of plumbing fixtures, washroom accessories and emergency safety products to commercial and industrial end markets 2021 Sentinel Hydrosolutions Sentinel, now known as Leak Defense, specializes in leak detection products, primarily sold into the high- end residential end market Successful Acquisitions Contributing to Profitable Growth 2025 EasyWater Leading provider of innovative salt and chemical-free water treatment solutions for residential, commercial and industrial applications 2025 Haws Corporation Leading global brand providing emergency safety and hydration solutions for use in industrial, institutional and non-residential end markets
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© 2025 Watts Water Technologies, Inc. A New Chapter in Our Smart & Connected Strategy Driving Digital Innovation Through Our Evolution to Intelligent Water Management Solutions 2018 Launched Smart & Connected strategy ▪ Increased focus on building S&C pipeline ▪ Established a base portfolio of connected products ▪ Expanded internal capabilities 2024 Continued digital transformation ▪ R&D spend >3% of sales ▪ ~100 digital engineers, focused on S&C products and platform ▪ Continued investments in digital offerings 15 NOW Introduced Nexa, the intelligent water management solution ▪ Integrates hardware, software and extensive systems expertise to enable real-time monitoring and notifications in commercial buildings ▪ Expands digital / SaaS capabilities to improve data and enhance customer experience Nexa Addressing Commercial Customer Challenges Sustainability Increasing focus on water scarcity and efficiency standards make comprehensive water usage solutions critical Efficiency Shrinking pool of skilled plumbers and facility managers drives need for easy-to-install products and remotely monitorable systems Risk Mitigation Increasing water-related risks drive demand for intelligent water management solutions 25% Smart & Connected Revenues HSD% Smart & Connected Revenues
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© 2025 Watts Water Technologies, Inc. Continuous Improvement Through One Watts Performance System (OWPS) Benefits ▪ For customers: Consistency is the foundation of high-quality products and customer service ▪ For employees: well-implemented safety procedures support an engaged workplace ▪ For investors: sustainable best practices and efficiencies yield consistently strong results 16 STRATEGY How We Win CULTURE How We Act PROCESS How We Work CUSTOMER Creating Customer-Focused Culture to Drive Operational Excellence Tools and Processes ▪ Product road maps ▪ Product development stage gates ▪ 80 / 20 profitability analysis ▪ Integrated SIOP processes ▪ Kaizen and lean training ▪ Value stream mapping ▪ Job hazard analysis ▪ Talent / performance management ▪ Learning management system ▪ Monthly business operating reviews ▪ Disciplined M&A evaluation process ▪ Standard M&A integration process
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© 2025 Watts Water Technologies, Inc. Balanced Capital Deployment 17 Strong Cash Flow Generation Provides Flexibility 1 Yield as of November 5, 2025. $434 $145 $207 $147 Deployment History ($M) 2020 - 2024 ~60% Growth ~40% Returned to Shareholders 1 2 3 4 Strategic M&A ▪ Disciplined valuation / screening process Investing in High ROI Capex ▪ ~70% of capex invested in growth and productivity initiatives ▪ Reinvestment ratio >100% Competitive Dividend ▪ 13% 5-year CAGR through 2024 ▪ Increased dividend 21% effective June 2025 to annual dividend of $2.08/share, 0.7% yield1 Stable Share Buyback ▪ Offset stock dilution at minimum Priorities
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© 2025 Watts Water Technologies, Inc. Flexible Balance Sheet 18 $ in millions Sep. 28, 2025 Cash $458 Other Current Assets 856 Non-Current Assets 1,411 TOTAL ASSETS $2,725 Current Liabilities, Excluding Short-term Debt $464 Non-Current Liabilities 106 Debt 198 Equity 1,957 TOTAL LIABILITIES & EQUITY $2,725 Net Debt / Capitalization Ratio (15%) UNUSED AND AVAILABLE CREDIT CAPACITY ~ $588M Ample Firepower to Execute on Strategic Growth 1 Trailing Twelve Months $0 $0 $200 2025 2026 2029 Debt Maturity ($ in millions) No Debt Due Until 2029 $ in millions TTM1 Ended Sep. 28, 2025 Net cash provided by operations $387 Less: additions to property, plant, and equipment (43) FREE CASH FLOW $344 Net income $325 Cash conversion rate of free cash flow to net income 106%
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© 2025 Watts Water Technologies, Inc. Proven Track Record of Resilience 19 * See Appendix for reconciliation of non-GAAP measures to their corresponding GAAP measures Adj. EPS* FCF ($M)* & FCF Conversion (%) Adj. EBITDA ($M)* & Adj. EBITDA Margin (%)* Sales ($M) $1,601 $1,509 $1,809 $1,980 $2,056 $2,252 2019 2020 2021 2022 2023 2024 $4.07 $3.88 $5.52 $7.13 $8.27 $8.86 2019 2020 2021 2022 2023 2024 $165 $187 $159 $201 $281 $332 125% 164% 96% 80% 107% 114% 2019 2020 2021 2022 2023 2024 $253 $239 $304 $363 $408 $454 15.8% 15.9% 16.8% 18.3% 19.9% 20.1% 2019 2020 2021 2022 2023 2024 12% 5-Year CAGR 7% 5-Year CAGR 17% 5-Year CAGR 15% 5-Year CAGR Strong performance in a challenging market supported by: Alignment to secular growth trends Recognized leadership Proactive and nimble team One Watts Performance System Flexible balance sheet Commitment to long-term strategy 5-year performance versus 2019
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© 2025 Watts Water Technologies, Inc. Q4 and Full Year 2025 Outlook* Previous FY Outlook Updated FY Outlook Q4 Outlook Sales Growth Reported +2% to +5% Organic Flat to +3% Reported +7% to +8% Organic +4% to +5% Reported +9% to +13% Organic +4% to +8% Segment Organic Growth Americas: +2% to +5% Europe: -9% to -5% APMEA: +3% to +6% Acquired: Americas ~$30M FX: Sales ~+$12M; EPS ~+$0.04 Segment Organic Growth Americas: +7% to +8% Europe: -6% to -5% APMEA: +3% to +4% Acquired: Americas ~$43M FX: Sales ~+$16M; EPS ~+$0.05 Segment Organic Growth Americas: +6% to +10% Europe: -3% to +1% APMEA: Flat to +4% Acquired: Americas ~$20M FX: Sales ~+$10M; EPS ~+$0.03 Adj. EBITDA Margin 20.7% to 21.3% +60 bps to +120 bps 21.5% to 21.6% +140 bps to +150 bps 19.6% to 20.1% +30 bps to +80 bps Adj. Operating Margin 18.2% to 18.8% +50 bps to +110 bps 19.1% to 19.2% +140 bps to +150 bps 17.0% to 17.5% +20 bps to +70 bps Americas: +60 bps to +120 bps Europe: -30 bps to +30 bps APMEA: Flat to +60 bps Acquisition dilution: ~10 bps Americas: +150 bps to +160 bps Europe: +100 bps to +110 bps APMEA: Flat to +10 bps Acquisition dilution: ~-30 bps Watts, ~- 50 bps Americas Americas: -30 bps to +20 bps Europe: +250 bps to +300 bps APMEA: -20 bps to +30 bps Free Cash Flow ≥ 100% of Net Income ≥ 100% of Net Income Seasonally Strong 20 * Incorporates estimates as of November 5, 2025, including direct tariff cost estimate of ~$40M for 2025. See Appendix for other Outlook assumptions.
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© 2025 Watts Water Technologies, Inc. → M&A focused on strong market positions in core or complementary markets → Maintain extensive M&A pipeline → Expanding through cross-selling existing products into new regions → Targeted expansion into countries with well-established plumbing codes → Driving productivity through One Watts Performance System; both inside and outside the factory → Continuous focus on price/cost dynamic → Volume leverage → New product development, led by our smart & connected strategy → Leveraging Voice of Customer (VOC) to drive product innovation → Key account management and commercial excellence → Providing training in 10 state-of-the-art Watts Works Learning Centers Long-term Aspirations 21 Profitable Growth Through Innovation, Acquisitions and Commercial Excellence Organic Growth 1% Above Market Operating Margin Expansion 30 – 50 bps per Year Growth through M&A and Geographic Expansion How We Will Reach Our Goal…
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© 2025 Watts Water Technologies, Inc. APPENDIX
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© 2025 Watts Water Technologies, Inc. Other 2025 Outlook* Inputs 23 * As of November 5, 2025. See Appendix for reconciliation of non-GAAP measures to their corresponding GAAP measures. Previous Other FY Inputs Updated Other FY Inputs Other Q4 Inputs Corporate Costs ~$58M ~$61M ~$15M Net Interest Expense ~$2M - $3M ~$1M - $2M <$0.5M Stock-Based Compensation ~$20M ~$21M ~$6M Adj Effective Tax Rate ~25% 25% to 26% ~26% Share Count ~33.5M ~33.5M ~33.5M Capex ~$50M ~$45M ~$15M Depreciation & Amortization ~$58M ~$58M ~$15M FX Europe (FY Avg EUR @1.12) ~+$15M Americas (CAD) ~-$1M APMEA (RMB/AUD/NZD) ~-$2M Europe (FY Avg EUR @1.13) ~+$19M Americas (CAD) ~-$1M APMEA (RMB/AUD/NZD) ~-$2M Europe (EUR @1.17) ~+$10M Americas (CAD) ~Flat APMEA (RMB/AUD/NZD) ~Flat
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© 2025 Watts Water Technologies, Inc. Reconciliation of Long-term Debt (Including Current Portion) to Net Debt to Capitalization Ratio September 28, 2025 December 31, 2024 Current portion of long-term debt $ - $ - Plus: Long-term debt, net of current portion 197.5 197.0 Less: Cash and cash equivalents (457.7) (386.9) Net debt ($260.2) ($189.9) Net debt ($260.2) ($189.9) Plus: Total stockholders' equity 1,956.8 1,707.9 Capitalization $1,696.6 $1,518.0 Net debt to capitalization ratio (15%) (13%) (M) (Unaudited) 24
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© 2025 Watts Water Technologies, Inc. Reconciliation of GAAP to Non-GAAP Measures 25 $ in millions Year 2019 2020 2021 2022 2023 2024 Net sales $1,600.5 $1,508.6 $1,809.2 $1,979.5 $2,056.3 $2,252.2 Operating income $197.1 $181.1 $239.6 $315.0 $350.9 $390.4 Operating margin % 12.3% 12.0% 13.2% 15.9% 17.1% 17.3% Adjustments for special items: Restructuring and long-lived asset impairment charges $5.1 $11.3 $19.3 $10.6 $5.5 $7.2 Acquisition-related costs 0.9 1.3 - - 11.3 14.2 Pension settlement - - - - - (7.8) Contingent consideration - (1.5) - - (2.5) - (Gain) loss on sale of assets and other adjustments 3.1 1.7 - (1.8) - (4.4) Adjusted operating income $206.2 $193.9 $258.9 $323.8 $365.2 $399.6 Adjusted operating margin % 12.9% 12.9% 14.3% 16.4% 17.8% 17.7% Net income $131.5 $114.3 $165.7 $251.5 $262.1 $291.2 Adjustments for special items – tax effected: Restructuring and long-lived asset impairment charges $3.8 $8.4 $14.1 $7.9 $4.1 $5.4 Acquisition-related costs 0.7 1.0 - - 8.3 10.7 Pension settlement - - - - - (5.8) Contingent consideration - (1.5) - - (2.5) - (Gain) loss on sale of assets and other adjustments 3.1 0.1 - (1.4) - (4.5) Tax adjustment items - 9.7 7.2 (18.2) 5.3 - Adjusted net income $139.1 $132.0 $187.0 $239.8 $277.3 $297.0 Diluted earnings per share $3.85 $3.36 $4.88 $7.48 $7.82 $8.69 Adjustments for special items 0.22 0.52 0.64 (0.35) 0.45 0.17 Adjusted diluted earnings per share $4.07 $3.88 $5.52 $7.13 $8.27 $8.86
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© 2025 Watts Water Technologies, Inc. Reconciliation of Net Cash Provided by Operations to Free Cash Flow $ in millions Year 2019 2020 2021 2022 2023 2024 Net cash provided by operations $194.0 $228.8 $180.8 $224.0 $310.8 $361.1 Less: additions to property, plant, and equipment (29.2) (43.8) (26.7) (28.1) (29.7) (35.3) Plus: proceeds from the sale of property, plant, and equipment 0.1 2.2 5.1 5.2 - 5.9 Free cash flow $164.9 $187.2 $159.2 $201.1 $281.1 $331.7 Net income $131.5 $114.3 $165.7 $251.5 $262.1 $291.2 Cash conversion rate of free cash flow to net income 125% 164% 96% 80% 107% 114% 26
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© 2025 Watts Water Technologies, Inc. Reconciliation between GAAP and Non-GAAP Measures Included in 2025 Outlook* Fourth Quarter 2025 Full Year 2025 Net Sales Net sales growth +10% to +13% +7% to +8% Forecasted impact of acquisition / FX -5% -3% Organic net sales growth +5% to +8% +4% to +5% Operating Margin Operating margin range 16.5% to 17.0% 18.1% to 18.2% Forecasted restructuring / other costs 0.5% 1.0% Adjusted operating margin range 17.0% to 17.5% 19.1% to 19.2% * As of November 5 2025. 27
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© 2025 Watts Water Technologies, Inc. Calculation of EBITDA 28 $ in millions Year 2019 2020 2021 2022 2023 2024 Sales $1,600.5 $1,508.6 $1,809.2 $1,979.5 $2,056.3 $2,252.2 Net income $131.5 $114.3 $165.7 $251.5 $262.1 $291.2 Plus: Interest expense, net 13.7 13.3 6.2 6.4 1.0 5.8 Plus: Income taxes 52.4 52.7 68.4 56.1 87.4 94.8 Plus: Depreciation 31.0 31.3 31.4 27.6 30.1 34.6 Plus: Amortization 15.6 15.2 13.7 12.1 13.2 19.8 EBITDA - Earnings before interest, taxes, depreciation and amortization $244.2 $226.8 $285.4 $353.7 $393.8 $446.2 EBITDA Margin % 15.3% 15.0% 15.8% 17.9% 19.2% 19.8% Adjustments for special items 9.0 12.3 18.3 8.8 14.3 7.8 Adjusted EBITDA – Adjusted earnings before interest, taxes, depreciation and amortization $253.2 $239.1 $303.7 $362.5 $408.1 $453.7 Adjusted EBITDA Margin % 15.8% 15.9% 16.8% 18.3% 19.9% 20.1%