SPX Technologies : Investor Day Presentation

2024

Investor Day

MARCH 26, 2024

Safe Harbor Statement

Certain statements contained in this presentation that are not historical facts, including any statements as to future market conditions, results of operations, products introductions, and financial projections, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to safe harbor created thereby. These forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future express or implied results. Although SPX Technologies believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are based on the company's existing operations and complement of businesses, which are subject to change.

These risks, uncertainties and other factors include the following: cyclical changes and specific industry events in the company's markets; changes in anticipated capital investment and maintenance expenditures by customers; availability, limitations or cost increases of raw materials and/or commodities that cannot be recovered in product pricing; the impact of competition on profit margins and the company's ability to maintain or increase market share; inadequate performance by third-party suppliers and subcontractors for outsourced products, components and services and other supply-chain risks; the uncertainty of claims resolution with respect to, environmental and other contingent liabilities; the impact of climate change and any legal or regulatory actions taken in response thereto; cyber-security risks; risks with respect to the protection of intellectual property, including with respect to the company's digitalization initiatives; the impact of overruns, inflation and the incurrence of delays with respect to long-term fixed-price contracts; defects or errors in current or planned products; the impact of pandemics and governmental and other actions taken in response; domestic economic, political, legal, accounting and business developments adversely affecting the company's business, including regulatory changes; changes in worldwide economic conditions, including as a result of geopolitical conflicts; uncertainties with respect to SPX Technologies' ability to identify acceptable acquisition targets; uncertainties surrounding timing and successful completion of acquisition or disposition transactions, including with respect to integrating acquisitions and achieving cost savings or other benefits from acquisitions; the impact of retained liabilities of disposed businesses; potential labor disputes; and extreme weather conditions and natural and other disasters. More information regarding such risks can be found in SPX Technologies' most recent Annual Report on Form 10-K, and other SEC filings.

Statements in this presentation are only as of the time made, and SPX Technologies disclaims any responsibility to update or revise such statements except as required by law.

This presentation includes non-GAAP financial measures. Reconciliations of historical non-GAAP financial measures with the most comparable measures calculated and presented in accordance with GAAP are available in the appendix to this presentation. We believe that these non-GAAP measures are useful to investors in evaluating our operating performance and our management of business from period to period.

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Speaker Biography

• ▪ President and CEO since 2015

• ▪ Joined SPX in 2008 - multiple leadership roles

• ▪ Led pre-spin Thermal segment

• ▪ Background: Milliken, Bain & Company, and Lazard Technology Partners

• ▪ B.S. Virginia Tech; MBA Dartmouth

Company Overview

• ▪ Headquartered in Charlotte, NC

• ▪ Focused, market-leading segments: » HVAC » Detection & Measurement

• ▪ $1.74B Revenue1

• ▪ 4,000+ employees

• ▪ NYSE Ticker: SPXC

2023 Revenue by Geography

(Destination)

12%

8%

1 2023 revenue

The SPX Technologies Leadership Team

TODAY'S PRESENTERS

President & Chief Executive Officer

President, HVAC Segment

President, Detection & Measurement Segment

Chief Financial Officer & Treasurer

President,

Global Operations

VP, Strategy & Business Development

VP, Investor Relations and Communications

ADDITIONAL TEAM MEMBERS

Chief Information

Officer

General Manager CommTech & Transportation

General Manager Engineered Air Movement

Chief Human Resources

Officer

General Manager

Weil-McLain

General Counsel & Secretary

General Manager Radiodetection

General Manager Aids to Navigation

General Manager

Inspection

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The SPX Technologies Board of Directors

StrategicIndependentExperienced

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SPX Transformation

2015-2021 ransformation

• ▪ Divested Power businesses

• ▪ Focus on HVAC and D&M growth

2021-2022 Transition

• ▪ Redeployed capital through M&A

• ▪ Commenced compounder strategy

2023+ Acceleration

• ▪ Driving continued MSD3 organic growth

• ▪ Significant inorganic opportunities

$1.7B

~$2.0B

$1.7B

$1.2B

2021A

2023A

2024E 2

• 1 SPX CAGR excludes Power segment from base year 2015, as the businesses making up the segment were largely divested during the next several years. The Power Segment is shown excluding South Africa project revenue. Process Cooling is currently reported within HVAC. It was reported as part of the Power segment in 2015, and is excluded from the CAGR calculations for comparison purposes.

• 2 2024 figures reflect midpoint of guidance range

• 3 MSD = Mid Single Digit %

2024 INVESTOR DAY | COPYRIGHT © 2024 SPX TECHNOLOGIES

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Disclaimer

SPX Technologies Inc. published this content on 26 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2024 13:09:37 UTC.