#1Investor Presentation November 2023 ENPRO#2Forward-Looking Statements ENPRO Statements in this presentation that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: economic conditions in the markets served by our businesses and the businesses of our customers, some of which are cyclical and experience periodic downturns; the impact of geopolitical activity on those markets, including instabilities associated with the armed conflicts in Ukraine and between Israel and Hamas, and any conflict or threat of conflict that may affect Taiwan; uncertainties with respect to the imposition of government embargoes, tariffs and trade protection measures, such as "anti-dumping” duties applicable to classes of products, and import or export licensing requirements, as well as the imposition of trade sanctions against a class of products imported from or sold and exported to, or the loss of "normal trade relations" status with, countries in which we conduct business, could significantly increase our cost of products or otherwise reduce our sales and harm our business; uncertainties with respect to prices and availability of raw materials, including as a result of instabilities from geopolitical conflicts; uncertainties with respect to our ability to achieve anticipated growth within the semiconductor, life sciences, and other technology-enabled markets, including uncertainties with respect to receipt of CHIPS Act support and the timing of completion of the new facility in Arizona; the impact of fluctuations in relevant foreign currency exchange rates or unanticipated increases in applicable interest rates; unanticipated delays or problems in introducing new products; the impact of any labor disputes; announcements by competitors of new products, services or technological innovations; changes in our pricing policies or the pricing policies of our competitors; risks related to the reliance of our Advanced Surface Technologies segment on a small number of significant customers; uncertainties with respect to our ability to identify and complete business acquisitions consistent with our strategy and to successfully integrate any businesses that we acquire; and uncertainties with respect to the amount of any payments required to satisfy contingent liabilities, including those related to discontinued operations, other divested businesses and discontinued operations of our predecessors, including liabilities for certain products, environmental matters, employee benefit and statutory severance obligations and other matters. Enpro's filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q reports, describe these and other risks and uncertainties in more detail. Enpro does not undertake to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based. Full-year guidance excludes changes in the number of shares outstanding, impacts from future and pending acquisitions, dispositions and related transaction costs, restructuring costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the third quarter, the impact of foreign exchange rate changes subsequent to the end of the third quarter, increases in interest rates beyond those assumed in the preparation of the guidance, impacts from pandemics or from geopolitical activity, including the outbreak (or threat of outbreak) of armed hostilities, and environmental and litigation charges. This presentation also contains certain non-GAAP financial measures (*) as defined by the Securities and Exchange Commission. A reconciliation of historical non-GAAP measures to the most directly comparable GAAP equivalents is included as an appendix to this presentation. Enpro Investor Presentation November 2023 2 ✰ ENPRO#3Positioned to Deliver Significant Shareholder Value 1 2 3 Transformed portfolio to accelerate growth in leading-edge, industrial technology-related businesses with high margins and strong cash flow Enhancing aftermarket exposure with critical applications, serving faster growth end markets Increasing cash flow return on investment through portfolio reshaping actions, a focus on high- margin top line growth and continuous improvement initiatives Enpro Investor Presentation November 2023 4 5 Maximizing long-term shareholder returns through a commitment to disciplined capital allocation, sustainability, diversity, and community involvement Empowering our colleagues with a mindful, collaborative culture that values safety, inclusion, authenticity and respect 3 ✰ ENPRO#4Enpro (NYSE: NPO) | Best-in Class Portfolio of Leading-Edge Businesses Company Overview 13 Headquarters Charlotte, Principal Manufacturing Global Employees NC and Service Facilities ~3,500 Financial Overview Market-Cap¹ LTM Q3 2023 Revenue LTM Q3 2023 Adj. EBITDA (Margin)2 FY 2023 Aftermarket Rev. % Dividend Yield¹ ENPRO Sales by Segment Sales by Channel September 2023 YTD Revenue Contribution Sales by Geography Sales by Market 47% 53% $2.4 $1.08B ■ Semiconductor 34% ■ Sealing Technologies 63% ■ North America 68% ■ General Industrial 25% ■ Aftermarket ■Commerical Vehicle 19% ■ Asia Pacific 17% $245M (22.6%) ■ OE ■ Food & Pharma 6% ■ Advanced Surface Technologies 37% ■ Europe 14% ■ ROW 1% 53% ■ Power Generation 6% ■ Aerospace 6% ■ Petrochemical 4% 1.0% Strong Aftermarket Position Across Both Segments with Critical Products and Solutions 1 As of 10/30/2023; 2 Refer to Non-GAAP reconciliation included in this appendix. Adjusted EBITDA margin for a period is calculated by dividing adjusted EBITDA for the period by revenue for the period. Enpro Investor Presentation November 2023 4 ✰ ENPRO#5A Strong Foundation for Our Future Strategic Actions Position Enpro Portfolio with Industry-Leading Profitability in Secular Growth Markets Divestitures Fairbanks Morse Heavy-Duty Truck Product Lines Closed 1Q20 Completed 3Q19 - 3Q20 2019 Lean Teq Co., Closed 3Q19 Ltd. Acquisitions The Aseptic Group Closed 3Q19 Bushing Block Closed 4Q20 Air Springs Closed 4Q20 Polymer Components Closed 3Q21 Compressor Products Int'l (CPI) Closed 4Q21 GGB Closed November 2022 GPT Closed January 2023 2020 Alluxa Closed 4Q20 2021 NxEdge Closed 4Q21 2022 2023 1 Focusing on high-growth, high-margin industrial technology-related businesses with strong cash flow Consistent Portfolio Reshaping and Optimization Priorities 2 Building on our portfolio of leading- edge, critical products and solutions, while maintaining a strong aftermarket exposure and a larger domestic presence 3 Leveraging our operating model to sustain and improve strong margins and cash flow return on investment 4 Maximizing shareholder returns through commitment to sustainability, diversity and disciplined capital allocation Enpro Investor Presentation November 2023 5 ✰ ENPRO#6Sealing Technologies Profile • Composed of Garlock, STEMCO, and Technetics divisions Select Products CARLOCK C . • Enduring, applied engineering expertise using leading-edge technologies and processes Strong aftermarket in critical applications that safeguard environments Extensive proprietary knowledge Deep, meaningful customer relationships Innovative critical process solutions complemented by value-added systems integration Sales & Adj. EBITDA Margin Metallic Seals Soft Gaskets Wheel-end Products Bearing Isolators September 2023 YTD Revenue Contribution By Geography +2.2% $157.9 $161.4 20% 29.7% 25.1% 10% 68% By Market 7% 7% 34% 10% 34% 10% 31% General Industrial ■Commercial Vehicle Q3 2022 Sales Q3 2023 Adjusted EBITDA Margin ■North America ■ Europe ■ Asia ■ROW Power Generation Food & Pharma ■Aerospace ■Petrochemical By Channel 66% ■ Aftermarket ■ ОЕМ Applied Engineering Expertise with Products and Solutions that Safeguard Critical Environments Enpro Investor Presentation November 2023 6 ✰ ENPRO#7Advanced Surface Technologies Profile Composed of our semiconductor - NxEdge - Technetics Semi - LeanTeq - and innovative optical filter - Alluxa businesses Utilizes proprietary technologies and processes with highly differentiated products and solutions Vertical integration strategy solves challenging applications for semiconductor production and process reliability with leading-edge technologies Sales* & Adj. EBITDA Margin By Geography 3% $122.5 -27.0% $89.4 28% 32.6% Q3 2022 Sales 21.3% 69% Solutions Precision-Engineered Tools Cleaning, Coating and Refurbishment Solutions Optical Filters September 2023 YTD Revenue Contribution By Market 89% 2% 9% 68% By Channel Q3 2023 ■North America ■ Asia ■Europe ■General Industrial ■Semiconductor -Adjusted EBITDA Margin ■Aerospace/Other ■ Aftermarket Precision Manufacturing, Cleaning, Coating & Refurbishment Solutions & Optical Filters Enpro Investor Presentation November 2023 7 32% ■ ОЕМ ✰ ENPRO#8Semiconductor Market Widely Expected to Double Over The Next Decade Semiconductor Industry Trends* Chip Architectures Evolving and Increasing in Complexity AST Semiconductor Strategy NxEdge - Technetics Semi - LeanTeq Technology Differentiation Advanced Processing Nodes Enable Artificial Intelligence and Data Storage while Accelerating Computing Power Fab Capacity Expansions Globally Drive Regionalization of Semiconductor Equipment Supply Chains Process Yield Efficiency and Contamination Control Driving Life Cycle Management of Critical Tools Internet of Things, Industrial and Automotive Electronics Increasing Chip Consumption * See Appendix for Select Semiconductor Industry Outlook Commentary Enpro Investor Presentation November 2023 8 -> - Vertical Integration Regional Expansion Building on a Foundation Developing New Technologies Infrastructure & Capacity Investments ✰ ENPRO#9Disciplined, Value-Enhancing Capital Allocation Strategy Strong Balance Sheet Supports Optionality Net debt to TTM adjusted EBITDA ratio reduced further to 1.4x in Q3 driven by strong operating cash flow Repaid $133.7 million Term Loan A-1 with available cash in late July. Significant remaining cash, short- term investments and nearly full availability under our $400 million revolving credit facility, provide ample financial flexibility to execute on long-term strategic growth initiatives Investing in Long-Term Organic Growth while Pursuing Strategic Acquisitions Investing in multiple sources of long-term organic growth across the company, while encouraging innovation and market development Pursuing businesses in secular growth markets with high cash flow return on operating capital and recurring revenue Concentrating on critical products and solutions with high barriers to entry, transferable intellectual property, high switching costs and stringent customer qualifications Disciplined and Balanced Capital Allocation Prudent allocation of capital for growth opportunities and selective acquisitions that fit our strategic and financial criteria 2023 increase in quarterly dividend marks the 8th consecutive year of dividend increases $50 million share repurchase authorization Enpro Investor Presentation November 2023 9 ✰ ENPRO#10Balance Sheet, Cash Flow & Capital Allocation $ in millions Net Leverage Commentary Reported September 30, 2023 Revolving Credit Facility $ - • Strong balance sheet with ample liquidity Term Loan (1,2) $ 301 Senior Notes (1) $ 350 Free cash flow* for the nine months ended September 30, 2023 was $134.1M, up from $101.4M in the prior year • Capital Lease Obligations $ 1 Paid $18.3M in dividends in the nine months ended September 30, 2023 A Debt Components $ 652 • Net leverage ratio of 1.4x at September 30, 20236 B Cash, Equivalents, and Short-Term Investments (3) $ 331 C Noncontrolling Interest(4) $ 18 D (A-B+C) Net Debt $ 339 ENPRO 1 Includes impact from unamortized debt issue costs 2 Includes one term loan facility, the Term Loan A-2 Facility, with outstanding balance at September 30, 2023 of $301.2 million. The Term Loan A-1 Facility was fully repaid on July 26, 2023. The Term Loan A-2 Facility amortizes on a quarterly basis in an annual amount equal to 2.5% of the original principal amount of the Term Loan A-2 Facility in each of years one through three, 5.0% of such original principal amount in year four and 1.25% of such original principal amount in each of the first three quarters of year five, with the remaining outstanding principal amount payable at maturity 3 Includes $0.8M of short-term time deposits maturing in 2023 classified outside of cash and equivalents on our consolidated balance sheet 4 Represents redeemable retained interest in Alluxa by previous ownership 5 The $390.0M available for borrowing under revolver is net of $10.0M in letters of credit 6 Net leverage is calculated by dividing net debt at September 30, 2023 by adjusted EBITDA for the 12 months ended September 30, 2023 * Non-GAAP measure; refer to appendix for reconciliation to GAAP. Enpro Investor Presentation November 2023 10 ✰ ENPRO#112023 Guidance Revenue Growth 2023 Guidance* (at October 31, 2023) Assumptions Flat ~$94-95M Depreciation and Amortization Adjusted EBITDA** - Toward Low End $248M $256M ~$30-31M Net Interest Expense Adjusted Diluted EPS** Toward Low End $6.70 - $7.10 25% Normalized Tax Rate (from 27% last year) * Full-year guidance is subject to risks and uncertainties discussed above and specifically excludes changes in the number of shares outstanding, impacts from future acquisitions, dispositions and related transaction costs, restructuring costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the third quarter, and the impact of foreign exchange rate changes subsequent to the end of the third quarter. ** Non-GAAP financial measure. Because of the forward-looking nature of guidance, it is impractical to provide a quantitative reconciliation of such measures to the comparable GAAP measures. Amortization of acquisition-related intangible assets of approximately $70 million excluded from the calculation of adjusted diluted EPS. Such measures are calculated in a manner consistent with the similarly titled historical measures included in the appendix. Enpro Investor Presentation November 2023 11 ENPRO ✰ ENPRO#12Appendix Enpro Investor Presentation November 2023 12#13Select Semiconductor Industry Outlook Commentary Semiconductor Industry Growing to $1 Trillion by 2030 1,200 1,000 2030 Semi forecast $1T 2022 Semi revenue $5738 Semiconductor Industry Demand Environment Long-Term Secular Drivers Demonstrate Strategic Value of Semiconductors Longer-term, the semiconductor industry is expected to grow due to new enabling technologies such as Generative Al, 5G, IoT, Cloud Computing, Automotive Electronics, and Advanced Packaging. Industry regionalization is also just beginning. These technologies and trends underpin the broader semiconductor industry view that Semiconductor revenue is on track to be $1 trillion by 2030, representing a compound annual growth rate (CAGR) of approximately 9% from 2023 forecasts. 800 600 2002- 400 1990 First Blackberry Smartphone Introduced Semi revenue=$170B Global PC sales surpass 25M units Semi revenue=$50B 200 1980 1985 2018- Machine generated data surpasses human generated data Semi revenue $4668 ERA 2: PC+ Internet 1990 ERAT Made M 1995 2000 2005 2010 ERA 3: Mobility Cloud ERA 4: loT+Al 2015 2020 2025F 2030F IoT + Al Era is the 4th and Biggest Age of Computing Source SA, Applied MM 2000 FTchings 127 May & Company $1.17 SEMI 1.37 SAME Digital transformation drives structural growth Megatrends driving the semiconductor market Industry 4.0 Smartphone Mega trends Autonomous vehicles & EV Smarthome ASMA Semiconductor revenue (US$ billion) 1,200 Doubling to US$1 trillion by 2030 1,000 2018 2021 2024 2027 Source: Techinsights July 2023 October 24, 2023 2030 800 600 400 200 0 2033 APPLIED 1 Customers Adjusting Near-Term Capex Plans in Response to Market Conditions Over the past several quarters semiconductor and semiconductor capital equipment industry demand has been impacted by the macro-driven slowdown in electronics markets and analysts continue to project semiconductor device revenues to decline low double digits percent in 2023. Customer R&D Investment Remains a Top Priority for Capex Investment We continue to monitor resulting adjustments to our customers' capacity, and while wafer fabrication equipment (WFE) investment is down in 2023, R&D investments continue to be prioritized by our largest customers. This is important for KLA as our portfolio of products are relied upon during the R&D process as well as the early ramp phase when faster time-to-yield is critical The strategic nature of semiconductors in the global economy drives long term secular growth KLA Non-Confidential | Unrestricted KLA+ 2 3 Megatrends, wafer demand and capacity plans to support future growth Key messages Global trends continue to fuel semiconductor growth This drives an increase in demand for wafers into the next decade While the current macro environment creates near-term uncertainties, we see longer- term wafer demand and capacity showing healthy growth Expanding application space and industry innovation are expected to continue to fuel growth across semiconductor markets This translates to semi end market annual growth rate of around 9% and a doubling of semiconductor revenue (2020-2030) Strong growth rates across markets, continued innovation, more foundry competition and technological sovereignty drive an increased demand at advanced and mature nodes, which requires wafer capacity additions of over 780 thousand wafer starts per month per year, or a CAGR of 6.5% (2020-2030) ASM proprietary information 20 3 ASML 1: Source: Applied Materials Q3 Fiscal 2023 Earnings Presentation, August 2023 2: Source: KLA Q1 Fiscal 2024 Earnings Presentation, October 2023 3: Source: ASM, Q3 2023 Earnings Presentation, Oct 2023 4: Source: ASML Investor Day 2022, November 2022 Enpro Investor Presentation November 2023 13 To meet that demand, ASML and its partners are adding capacity We plan to adjust our capacity to meet future demand, preparing for cyclicality while sharing risks and rewards fairly with all stakeholders We plan to increase our capacity to 90 Low-NA EUV and 600 DUV systems (2025-2026), while also ramping High-NA EUV capacity to 20 systems (2027-2028) November 11, 2022 4 ✰ ENPRO#14Reconciliation of LTM Results EnPro Industries, Inc. Adjusted ($ in millions) Revenue EBITDA Adjusted EBITDA Margin Nine Months Ended September 30, 2023 $ 810.2 $ 191.1 23.6% Plus: Year Ended December 31, 2022 1,099.2 257.4 23.4% Less: Nine Months Ended September 30, 2022 827.3 203.9 24.6% LTM Ended September 30, 2023 $ 1,082.1 $ 244.6 22.6% Enpro Investor Presentation November 2023 14 ENPRO ✰ ENPRO#15Consolidated Adjusted EBITDA (1/2) For the Year Ended December 31, 2022 (In Millions) Income from continuing operations attributable to EnPro Industries, Inc., net of tax Net income attributable to redeemable non-controlling interests Income from continuing operations 2022 $ 6.7 (2.8) 3.9 Adjustments to arrive at earnings before interest, income taxes, depreciation, amortization, and other selected items ("Adjusted EBITDA"): Interest expense, net Income tax expense Depreciation and amortization expense Restructuring and impairment expense 33.9 24.4 103.1 2.9 Environmental reserve adjustments 5.1 Costs associated with previously disposed businesses 0.3 Net loss on sale of business 0.6 Acquisition and divestiture expenses 1.2 Pension income (non-service cost) (3.6) Non-controlling interest compensation allocation¹ (0.6) Asbestos receivable adjustment 2.8 Amortization of the fair value adjustment to acquisition date inventory 13.3 Tax indemnification asset 2 Goodwill impairment 0.9 65.2 Foreign exchange losses related to divestiture of GGB 3 3.8 Other Adjusted EBITDA $ 0.2 257.4 Enpro Investor Presentation November 2023 15 INon-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that was and is subject to reduction for certain types of employment terminations of the LeanTeq and Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have occurred. The LeanTeq non-controlling interests were acquired by EnPro in December 2022. 2 In connection with the acquisition of Aseptic in 2019, we recognized a liability for uncertain tax positions and a related indemnification asset for the portion of that liability recoverable from the seller. We determined the statute of limitations expired on some of the uncertain tax positions in 2022 and 2021 and, accordingly, removed a portion of the liability and receivable. The release of the related liability was recorded as part of our tax expense for the year ended December 31, 2022 and 2021 and the reversal of the related receivable was recorded as an expense in other non-operating income (expense) on our consolidated statement of operations. 3 In connection with the sale of GGB, accounted for as a discontinued operation, in the fourth quarter of 2022, we issued an intercompany note between a domestic and foreign entity that was denominated in a foreign currency. As a result of this note, we recorded a loss due to the change in exchange rate during December 2022. In January 2023, we hedged the outstanding notes and expect future gains or losses to be minimal. ENPRO ✰ ENPRO#16Consolidated Adjusted EBITDA (2/2) For the Quarters and Nine Months Ended September 30, 2023 and 2022 (In Millions) Quarters Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income from continuing operations attributable to EnPro Industries, Inc. Net income (loss) attributable to redeemable non-controlling interests Income from continuing operations $ 8.3 $ 26.2 $ 15.7 $ 64.2 (0.1) 0.6 (4.3) 0.8 8.2 26.8 11.4 65.0 Adjustments to arrive at earnings before interest, income taxes, depreciation, amortization, and other selected items ("Adjusted EBITDA"): Interest expense, net 7.1 9.3 23.6 23.9 Income tax expense 14.7 9.1 17.0 19.8 Depreciation and amortization expense 23.6 25.7 71.1 77.9 Restructuring and impairment expense 2.2 0.1 3.2 2.2 Environmental reserve adjustments Costs associated with previously disposed businesses Acquisition and divestiture expenses Pension expense (income) (non-service cost) Non-controlling interest compensation allocation¹ Asbestos receivable adjustment Amortization of the fair value adjustment to acquisition date inventory 0.4 0.1 0.5 (0.2) 0.4 0.2 0.8 0.8 0.1 1.0 0.4 (0.7) 1.1 (2.1) (0.6) (0.3) (0.1) 2.8 1.0 12.3 Goodwill impairment Foreign exchange losses related to the divestiture of a discontinued operation Other Adjusted EBITDA 60.8 0.5 1.5 0.2 $ 57.7 $ 0.3 71.3 $ 0.3 191.1 $ 203.9 0.6 ENPRO I Non-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that is subject to reduction for certain types of employment terminations of the LeanTeq and Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have occurred. The LeanTeq non-controlling interests were acquired by Enpro in December 2022. Enpro Investor Presentation November 2023 16 ✰ ENPRO#17Segment Information (1/2) ENPRO For the Quarters and Nine Months Ended September 30, 2023 and 2022 (In Millions) Sales Reconciliation of Adjusted Segment EBITDA to Income from Continuing Operations Attributable to EnPro Industries, Inc. Nine Months Ended Quarters Ended September 30, September 30, Quarters Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income from continuing operations attributable to EnPro Industries, Inc. 8.3 26.2 15.7 64.2 2023 2022 2023 2022 Sealing Technologies Advanced Surface Technologies Less: intersegment sales $161.4 $ 157.9 $ 511.4 $ 467.4 Plus: net income (loss) attributable to redeeming non-controlling interests Income from continuing operations (0.1) 0.6 (4.3) 0.8 8.2 26.8 11.4 65.0 89.4 122.5 299.1 360.7 Income tax expense $ (14.7) $ (9.1) $ (17.0) $ (19.8) 250.8 280.4 810.5 828.1 Income from continuing operations before income taxes 22.9 35.9 28.4 84.8 (0.1) (0.3) (0.3) (0.8) Acquisition and divestiture expense 0.4 $ 250.7 $ 280.1 $ 810.2 $ 827.3 Non-controlling interest compensation allocation¹ (0.6) (0.3) (0.1) Amortization of the fair value adjustment to acquisition date inventory 1.0 12.3 Income from continuing operations attributable to EnPro Industries, Inc. Restructuring and impairment expense 2.0 0.1 2.6 1.2 $ 8.3 $ 26.2 $ 15.7 $ 64.2 Depreciation and amortization expense 23.5 25.7 70.9 77.7 Corporate expenses 9.4 9.1 35.1 31.4 Earnings before interest, income taxes, depreciation, Interest expense, net 7.1 9.3 23.6 23.9 amortization and other selected items (Adjusted Segment EBITDA) Goodwill impairment 2023 2022 2023 2022 Other income (expense), net Sealing Technologies $ 48.0 $ 39.7 $ 153.9 Advanced Surface Technologies 19.0 39.9 72.6 $ 118.1 112.6 Adjusted Segment EBITDA $ 67.0 $ 79.6 $ 226.5 $ 230.7 60.8 2.1 (0.9) 5.4 (0.9) $ 67.0 $ 79.6 $ 226.5 $ 230.7 Adjusted Segment EBITDA Margin Sealing Technologies Advanced Surface Technologies 2023 2022 2023 2022 29.7 % 25.1 % 30.1 % 25.3 % 21.3 % 32.6 % 24.3 % 26.7 % 28.4 % 28.0 % 31.2 % 27.9 % Adjusted Segment EBITDA is total segment revenue reduced by operating expenses and other costs identifiable with the segment, excluding acquisition and divestiture expenses, restructuring and impairment expense, non-controlling interest compensation, amortization of the fair value adjustment to acquisition date inventory, and depreciation and amortization. Corporate expenses include general corporate administrative costs. Expenses not directly attributable to the segments, corporate expenses, net interest expense, gains/losses related to the sale of assets, and income taxes are not included in the computation of Adjusted Segment EBITDA. The accounting policies of the reportable segments are the same as those for the Company. Adjusted segment EBITDA margin for a period is calculated by dividing adjusted segment EBITDA for the period by revenue for the period. 1 Non-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that is subject to reduction for certain types of employment terminations of the LeanTeq and Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have occurred. The LeanTeq non-controlling interests were acquired by Enpro in December 2022. The LeanTeq non-controlling interests were acquired by Enpro in December 2022. Enpro Investor Presentation November 2023 17 ENPRO#18Segment Information (2/2) For the Quarters and Nine Months Ended September 30, 2023 and 2022 (In Millions) Quarter Ended September 30, 2023 Advanced Surface Technologies Restructuring and impairment expense Depreciation and amortization expense Non-controlling interest compensation allocation1 Restructuring and impairment expense Depreciation and amortization expense ENPRO Sealing Technologies Total Segments Sealing Technologies Quarter Ended September 30, 2022 Advanced Surface Technologies Total Segments Non-controlling interest compensation allocation1 $ $ (0.6) $ (0.6) $ $ 1.6 $ 6.2 $ 0.4 $ 17.3 $ 2.0 23.5 Amortization of the fair value adjustment to acquisition date inventory Restructuring and impairment expense $ - $ 1.0 $ 1.0 $ 0.1 $ $ 0.1 Depreciation and amortization expense $ 6.3 $ 19.4 $ 25.7 Nine Months Ended September 30, 2023 Advanced Sealing Technologies Surface Technologies Total Segments Sealing Technologies Nine Months Ended September 30, 2022 Advanced Surface Technologies Total Segments $ $ $ $ 1.7 $ 18.9 $ (0.3) $ 0.9 $ 52.0 $ (0.3) Acquisition and divestiture expenses $ $ 0.4 $ 0.4 2.6 70.9 Non-controlling interest compensation allocation¹ $ $ (0.1) $ (0.1) Amortization of the fair value adjustment to acquisition date inventory Restructuring and impairment expense $ $ 12.3 $ 12.3 $ 0.6 $ 0.6 $ 1.2 Depreciation and amortization expense $ 19.9 $ 57.8 $ 77.7 INon-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that is subject to reduction for certain types of employment terminations of the LeanTeq and Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have occurred. The LeanTeq non-controlling interests were acquired by Enpro in December 2022. Enpro Investor Presentation November 2023 18 ✰ ENPRO#19Consolidated Adjusted Net Income (In Millions, Except Per Share Data) 2023 Quarters Ended September 30, (In Millions, Except Per Share Data) 2022 Average Average common shares common $ outstanding, diluted Per Share $ shared outstanding, diluted Per Share Income from continuing operations attributable to EnPro Industries, Inc. Net income (loss) from redeemable non-controlling interests Income tax expense $ 8.3 21.0 $ 0.39 $ 26.2 20.9 $ 1.26 (0.1) 0.6 14.7 9.1 Income from continuing operations before income taxes Adjustments from selling, general, and administrative: 22.9 35.9 Non-controlling interest compensation allocations¹ Amortization of acquisition-related intangible assets Adjustments from other operating expense and cost of sales: Restructuring and impairment expense (0.6) 17.1 18.7 2.2 0.1 Income from continuing operations attributable to EnPro Industries, Inc. Net income (loss) from redeemable non-controlling interests Income tax expense Income from continuing operations before income taxes Adjustments from selling, general, and administrative: Acquisition and divestiture expenses Non-controlling interest compensation allocations¹ Amortization of acquisition-related intangible assets Adjustments from other operating expense and cost of sales: 2023 Average $ common shares outstanding, diluted Per Share $ common shared outstanding, diluted Per Share $ 15.7 21.0 $ 0.75 $ 64.2 20.9 $ 3.08 (4.3) 0.8 17.0 19.8 28.4 84.8 ENPRO Nine Months Ended September 30, 2022 Average 0.1 1.0 (0.3) (0.2) 51.5 56.3 Amortization of the fair value adjustment to acquisition date inventory Restructuring and impairment expense 3.2 2.2 0.9 Adjustments from other non-operating expense: Amortization of the fair value adjustment to acquisition date inventory Adjustments from other non-operating expense: 12.1 Environmental reserve adjustment 0.4 0.1 Asbestos receivable adjustment 2.8 Costs associated with previously disposed businesses 0.4 0.2 Environmental reserve adjustment 0.5 Pension income (non-service cost) 0.4 (0.7) Costs associated with previously disposed businesses 0.8 Foreign exchange losses related to the divestiture of a discontinued operation² Pension income (non-service cost) 1.1 0.5 Goodwill impairment 56.6 Other adjustments: Other 0.2 Adjusted income from continuing operations before income Adjusted income tax expense Net loss (income) from redeemable non-controlling interests Adjusted income from continuing operations 44.1 (11.1) 0.1 0.2 54.8 Foreign exchange losses related to the divestiture of a discontinued operation² 1.5 །ྱསྐྱེ། | (0.2) 0.8 (2.1) Other adjustments: (14.8) (0.6) Other 0.3 0.6 3 3 $ 33.1 21.0 $ 1.58 $ 39.4 20.9 $ 1.89 Adjusted income from continuing operations before income taxes Adjusted income tax expense 143.7 158.1 (35.9) (42.7) Net loss (income) from redeemable non-controlling interests Adjusted income from continuing operations 4.3 (0.8) 3 $112.1 21.0 $ 5.35 $114.6 20.9 3 $ 5.49 Management of the Company believes that it would be helpful to the readers of the financial statements to understand the impact of certain selected items on the Company's reported income from continuing operations attributable to EnPro Industries, Inc., net of tax and diluted earnings per share from continuing operations attributable to EnPro Industries, Inc., including items that may recur from time to time. The items adjusted for in this schedule are those that are excluded by management in budgeting or projecting for performance in future periods, as they typically relate to events specific to the period in which they occur. This presentation enables readers to better compare EnPro Industries, Inc. to other diversified industrial manufacturing companies that do not incur the sporadic impact of restructuring activities, costs associated with previously disposed of businesses, acquisitions and divestitures, or other selected items. Management acknowledges that there are many items that impact a company's reported results and this list is not intended to present all items that may have impacted these results. Other adjustments are included in selling, general, and administrative, cost of sales, and other operating expenses on the consolidated statements of operations. The adjusted income tax expense presented above is calculated using a normalized company-wide effective tax rate excluding discrete items of 25.0% and 27.0% for 2023 and 2022, respectively. Per share amounts were calculated by dividing by the weighted-average shares of diluted common stock outstanding during the periods. 1 Non-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa that is subject to reduction for certain types of employment terminations of the LeanTeq and Alluxa sellers and is directly related to the terms of the respective acquisitions. This expense will continue to be recognized as compensation expense over the term of the put and call options associated with the acquisitions unless certain employment terminations have occurred. The LeanTeq non-controlling interests were acquired by Enpro in December 2022. 2 In connection with the sale of GGB, accounted for as a discontinued operation, in the fourth quarter of 2022, we issued an intercompany note between a domestic and foreign entity that was denominated in a foreign currency. As a result of this note, we recorded a loss due to the change in exchange rate in 2023. In January 2023, we hedged the outstanding notes in order to mitigate related gains or losses. 3 Adjusted diluted earnings per share. ENPRO Enpro Investor Presentation November 2023 19#20Free Cash Flow (In Millions) Free Cash Flow - Nine Months Ended September 30, 2023 Net cash provided by operating activities Purchases of property, plant, and equipment Free Cash Flow - Nine Months Ended September 30, 2022 Net cash provided by operating activities Purchases of property, plant, and equipment Enpro Investor Presentation November 2023 20 20 SA $ 154.8 (20.7) $ 134.1 GA 111.6 (10.2) 101.4 ENPRO ✰ ENPRO#21Enpro Investor Presentation November 2023 Thank you 21 21