#1Q1 2023 Earnings Presentation R Ingersoll Rand. VALUES We foster inspired teams Deploy Talent STRATEGIC FOCUS. We are bold in our r aspirations while moving forward with humility & integrity Accelerate Growth INGERSOLL RAND IRX EXECUTION EXCELLENCE Lead Sustainably Wcustomers smaking EXECUTION our Expand Margins successful Allocate Capital Effectively We think and act like owners#22 Forward Looking Statements This presentation by Ingersoll Rand Inc. (the "Company" or "Ingersoll Rand") contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related the Company's expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "on track to" "will continue," "will likely result," "guidance" or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements. These forward-looking statements are based on Ingersoll Rand's current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) the impact on the Company's business, suppliers and customers and global economic conditions of the COVID-19 pandemic, including business disruptions caused by government restrictions; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; (11) adverse impact on our operations and financial performance due to natural disaster, catastrophe, pandemic, geopolitical tensions or other events outside of our control; (12) the timing, manner and volume of repurchases of common stock pursuant to our share repurchase program; and (13) other risk factors detailed in Ingersoll Rand's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC"), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC's website at http://www.sec.gov. The foregoing list of important factors is not exclusive. Any forward-looking statements speak only as of the date of this presentation. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Non-GAAP Financial Measures Included in this presentation are certain non-GAAP financial measures designed to supplement, and not substitute, the financial information provided in accordance with generally accepted accounting principles ("GAAP") in the United States of America because management believes such measures are useful to investors. The reconciliation of those measures to the most comparable GAAP measures for historical periods is set forth in the appendix to this presentation. Reconciliations of non-GAAP measures related to full-year 2023 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations due to the high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations, including net income (loss) and adjustments that could be made for acquisitions-related expenses, restructuring and other business transformation costs, gains or losses on foreign currency exchange and the timing and magnitude of other amounts in the reconciliation of historic numbers. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results. R) Ingersoll Rand#3We are a Premier industrial company with iconic brands and market-leading positions 3 1 Non-GAAP measure (definitions and/or reconciliations in appendix) 1 2 3 Leveraging IRX for Continued Execution IRX enabling double-digit Adjusted EBITDA1 and Adjusted EPS1 growth, as well as strong free cash flow generation in 2023 Compounding Annual Results Delivering on Investor Day commitments by aligning to megatrends and high-growth, sustainable end markets Raising 2023 Guidance Strong Q1 results creating full year momentum IR Ingersoll Rand#4Our Economic Growth Engine Continues to Deliver Compounding Annual Results 4 Megatrends Sustainability Digitization Quality of Life Organic Growth Enablers Target: Mid-Single Digits Inorganic Growth Enablers Target: Mid-Single Digits: Quality of Earnings Target: ~100 bps/yr. Product Demand Generation lloT and Service Innovation × Product and Service M&A Technology Investments Aftermarket ... Price i2V High Performance Execution Process Premier Growth Compounder Ownership Mindset INGERSOLL RAND IRX EXECUTION EXCELLENCE II Double Digit Earnings Growth Our Competitive Differentiator High Teens Free Cash Flow Margin R Ingersoll Rand#55 Global Megatrends Driving Growth Through Demand Generation Excellence (DGX) Six DGX Examples, Out of Hundreds of Initiatives Launched During the First Quarter of 2023 Mega Trends Where and How We Win Our Achievements Sustainability Digitization Hydrogen Fuel Cell Carbon Capture • lloT • e-Commerce • Pharmaceuticals Quality of Life Agriculture Account-based marketing campaigns + SEO SEA2 targeting fuel cell developers Multi-channel integrated digital campaigns targeting carbon capture system builders and integrators • $125K+ OPPORTUNITY won from a fuel cell landing page within first month of launch for claw vacuum pumps and high-pressure compressors Global supply AGREEMENT SIGNED with key carbon capture player $200M+ CONSOLIDATED FUNNEL VALUE generated from core technologies; no New Product Development requirement Machine alerts triggering email notifications to customers and IR service contacts 3 new programs launched across globe Web- and mobile-based platforms • 3% of target audience BOOKED preventative maintenance service in <4 HOURS of customer contact ORDERS INCREASED 21% YoY Target database of 32K contacts with email campaigns and 20 webinars in 6 languages $4M OF FUNNEL ADDITIONS in <8 months for CompAir compression in EMEIA Launched social media campaigns for small farms and agriculture MQLS 3 INCREASED 96% YoY for Dosatron dosing pumps 1 SEO defined as Search Engine Optimized. 2 SEA defined as Search Engine Advertising 3 MQL defined as Marketing Qualified Lead. (IR) Ingersoll Rand#66 Leveraging IRX to Enable Successful M&A Integration Example: SEEPEX - Accelerating Margin Expansion while Leveraging Technology Across Multiple Dimensions to Drive Organic Growth SEEPEX Adj. EBITDA Margin Expansion • $480M purchase price acquisition • >1,000 bps Adj. EBITDA margin expansion in less than 15 months since acquisition1 - still opportunities for improvement Adj. EBITDA Margin expansion split relatively evenly between gross margin expansion (pricing, i2V) and cost synergies within SG&A SEEPEX Adj. EBITDA Margin Progression ...While Accelerating Organic Growth Across 3 Levers lever 1: Scaling Existing SEEPEX IoT technology across PST Segment, Now Moving to ITS SCAN ARO SERVICE POINT APP Shop Mid-Teens 2021 Actual Low 20s Low 30s 2022 Actual 2023 Outlook 1 Comparing Seepex Q4 2021 results to Q4 2022 results lever 2: Leveraging DGX + Existing SEEPEX Pump Technology to Drive Growth in New End Markets $250M+ Addressable Market lever 3: Integrating SEEPEX Pump Technology + IR Compressor Technology to Accelerate Differentiation ➤ Patented technology ➤Up to 72% energy savings (IR) Ingersoll Rand#7On Track to Deliver Our Inorganic Growth Commitment Trace Analytics • Closed M&A Description: Leading provider of lab-based testing and sampling for compressed air technologies Annual Revenue: ~$5M • Signed M&A Anhui Gaopeng Vacuum Equipment Co., LTD Description: Well-established dry screw vacuum pump manufacturer with exposure to sustainable end markets • Annual Revenue: ~$6M Funnel Update >5x Weighted funnel size vs Q2 2020 . Headquarters: Austin, TX • Close: May 1, 2023 TRACE AnalyticsIIC Headquarters: Chuzhou, China GP 5 • Close: Q3 2023 • Segment: ITS VACUUM Additional transactions at LOI stage¹ . Rationale: Recurring revenue stream in air purity/quality across attractive end markets such as food/beverage and pharmaceutical; highly complementary to Lawrence Factor acquisition (completed in Q4 2021) Segment: ITS • Rationale: Expands product portfolio into attractive and growing APAC oil free dry screw vacuum pump market -90% Deals internally sourced 7 1 As of May 1, 2023 Oil Free Vacuum Pump Microbial Air/Gas Sampler $200M $300M (400bps 500bps) Reaffirming our annualized inorganic revenue target for acquisitions in 2023 IR Ingersoll Rand#8Transformed Portfolio for Resiliency ...with Large Recurring and Highly Profitable Aftermarket -35% Aftermarket as a % of Total Revenue ~$2B Invested in assets that focus on high-growth, sustainable end markets since the Merger 1,2 ⚫ Portfolio better aligned to high-growth, ...with Proven Ability to be Agile and Drive Performance 2020: Global Pandemic • • sustainable end markets ensuring durable, stable performance • • Differentiated, longer cycle, better balanced geographic portfolio Expanded Adj. EBITDA Margins 190 bps YoY³ Deployed Merger-related synergy initiatives and increased savings target to $300M within first year of Merger 2019: Industrial Correction Expanded GDI Industrials Segment Adj. EBITDA Margins by 70 bps YoY Grew Adj. EBITDA 3% YoY, despite revenue declining ~3% organically • . ...and Still Have Multiple Levers to Outpace Market DGX: Continue to find Growth Ingersoll Rand has an addressable market of >$45B, with plenty of room to take market share Adj. EPS Growth: Multiple Levers ~$50M Additional Merger-related synergy funnel Continued synergies from bolt-on M&A ⚫ i2V • • Footprint • Effective tax rate . Capital structure 8 1 On February 29, 2020, Gardner Denver Holdings, Inc. closed on the acquisition of Ingersoll-Rand plc's Industrial segment (the "Merger") and changed its name to Ingersoll Rand Inc. 2 Includes closed and announced acquisitions 3 Comparison to 2019 is based on Supplemental Adjusted Revenue and Supplemental Adjusted EBITDA, which are non-GAAP metrics described in the appendix. (IR) Ingersoll Rand#9Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA STRATEGIC FOCUS integrity moving forward with humility as whil 2020/2021 Sustainalytics: Medium Risk DJSI: Unranked MSCI: BBB Current Sustainalytics: Low Risk DJSI: #1 in IEQ Machinery and Electrical Industry in NA and #4 globally MSCI: AA Accelerated our Sustainability Efforts By leveraging IRX, we achieved: ✓ Placement on DJSI World and DJSI North America Indices (Q4 2022) ✓ An upgrade to MSCI AA rating (Q3 2022) New: ✓ Low Risk rating by Morningstar Sustainalytics (Q1 2023) EXECUTION VALUES We foster inspired teams Expand Margin Deploy Talent INGERSOLL RAND IRX EXECUTION EXCELLENCE Lead Sustainably We think and act like owners 9 1 As of April 2023, Ingersoll Rand received an ESG Risk Rating of 12.8 from Morningstar Sustainalytics and was assessed to be at Low Risk of experiencing material financial impacts from ESG factors. In no event the ESG Risk Rating shall be construed as investment advice or expert opinion as defined by the applicable legislation.#1010 IRX is our Competitive Differentiator Q1 2023 Highlights¹ Orders/Revenue Adj. EBITDA² Adj. EPS² Continued momentum Organic orders: Up 8% YoY Organic revenue2: Up 20% YoY Q1'23 ending backlog up -15% YoY and -10% QoQ Book to Bill of 1.09x $400M with margin of 24.6% Up $97M YOY, an increase of 32% 190 bps improvement YoY Adjusted EPS of $0.65 +33% vs prior year YoY growth includes ($0.05) in interest expense headwinds $148M Operating Cash Flow: $170M Capex: ($22M) $2.2B 1.1x $1.1B cash on hand at end of Q1; down $0.5B vs prior quarter, primarily driven by SPX Flow Air Treatment acquisition Amended, extended and upsized revolving credit facility to $2B, increasing liquidity by $0.9B Improved 0.1x vs prior year Increased 0.3x vs prior quarter; largely due to timing of SPX Flow Air Treatment acquisition Free Cash Flow2 • Liquidity Net Leverage² 1 All figures as shown and associated comparisons based on continuing operations. 2 Non-GAAP measure (definitions and/or reconciliations in appendix). VALUES We foster inspired teams Deploy Talent INGERSOLL RAND IRX EXECUTION EXCELLENCE EXECUTION We are committed to making our customers successful Expand Margins Allocate Capital Effectively STRATEGIC FOCUS moving forward with humility & integrity We are bold in our aspirations while Accelerate Growth Lead Sustainably We think and act like owners (IR) Ingersoll Rand#1111 Q1 2023 vs. Q1 2022 Financial Performance ($M, Excluding EPS) Orders Revenue Up 9%; Up 13% ex-FX Up 22%; Up 26% ex-FX Adj. EBITDA & Margin¹ Up 32% Adj. Diluted EPS2 Up $0.16 $1,777 $0.65 $1,630 Q1 2022 Q1 2023 $1,337 $400 $1,629 $304 24.6% $0.49 22.7% Q1 2022 Q1 2023 Adj. EBITDA Margin Expansion ITS 240 bps PST 170 bps Total IR 190 bps Q1 2022 Q1 2023 Adj. EBITDA includes $15M of FX headwinds as compared to prior year Book to Bill of 1.09x Backlog up -15% YoY and ~10% QoQ 1 Non-GAAP measure (definitions and/or reconciliations in appendix). 2 Adjusted Diluted EPS defined as (Adjusted Net Income attributable to Ingersoll Rand) / (Diluted Average Shares Outstanding). • Q1 2022 Q1 2023 Adj. Diluted EPS 1,2 growth of 33% (ÍR) Ingersoll Rand#12Q1 2023 Financial Performance ($M, Excluding Leverage) Free Cash Flow¹ Cash Flows from Operations less Capex $170 Op. Cash Flow ($22) Capex $148 Leverage (Net Debt/ LTM Adjusted EBITDA) 1.9x 1.2x 1.1x Free Cash Flow Q1 2021 Q1 2022 Q1 2023 Free Cash Flow¹ up 359% YoY 12 1 Non-GAAP measure (definitions and/or reconciliations in appendix). Liquidity & Leverage . Upgraded by S&P to investment grade rating of BBB- and affirmed a positive outlook indicating potential future upgrades • Total available liquidity of $2.2B including: • • • • Cash and cash equivalents: $1.1B Available Revolving Credit Facility (RCF) Balance: $1.1B (as of Q1 '23 end) RCF amended, extended and upsized to $2.0B to support the company's growth strategy Leverage improvement of 0.1x vs prior year Q1 Cash outflows primarily driven by: • $566M deployed to M&A (includes -$520M of cash which was deployed for SPX Flow Air Treatment acquisition on Jan. 3, 2023) Returned $85M to shareholders through share repurchases ($77M) and dividend issuance ($8M) (IR) Ingersoll Rand#13Industrial Technologies and Services Broad Range of Compressor, Vacuum and Blower Solutions as well as Industrial Technologies Including Power Tools and Lifting Equipment Q1 2023 vs. Q1 2022 ($M) Current Year Prior Year YoY A Ex-FX YOY A Q1 2023 vs. Q1 2022 Revenue/Orders Bridge Organic FX M&A ΥΟΥ Δ Revenue $1,317.2 $1,039.6 26.7% 31.2% Orders Growth 10.0% (3.9)% 6.1% 12.2% Adj. EBITDA $345.6 247.4 39.7% Revenue Growth 24.5% (4.5)% 6.7% 26.7% Adj. EBITDA Margin 26.2% 23.8% 240 bps Highlights 1,2 Innovation in Action • Book to Bill of 1.10x; 35% YoY incremental margins Product³ Annualized Segment Mix Orders (YoY) Revenue (YoY) Compressors -65% ↑ Low 20's ↑ Low 30's Industrial Vacuum & Blowers -20% Low Single Digits ↑ High 20's Power Tools & Lifting -10% ↑ High Single Digits ↑ Low Double Digits Other -5% ↑ High Single Digits ↑ Low 50's Regional Split for Compressors Orders (YoY) Revenue (YoY) Americas ↑ High 20's ↑ Mid 30's EMEIA ↑ Mid-Teens ↑ Mid 30's APAC Combining Technologies Across Portfolio to Provide Differentiated Solutions Side-Channel Blower Claw Vacuum Pumps Gas Compressor Elmo Rietschle + Elmo Rietschle Reavell Differentiated Carbon Capture Solution • Partnered with a clean tech innovator based in Oslo, Norway to develop novel system for industrial point-source CO2 capture using patented membrane technology • Pilot system includes four IR products on each module: side-channel blower, two vacuum pumps and one gas compressor; full-scale system design includes larger power variants of these product technologies • First commercial unit commissioned and being monitored in Arkansas, USA 13 ↑ Low Double Digits ↑ Low 20's 1 Excludes the impact of Foreign Exchange. 2 Excludes the impact of the acquisition of SPX Flow Air Treatment business 3 Compressors include oil lubricated, oil free, reciprocating and centrifugal offerings; Industrial Vacuum & Blowers include all blower/vacuum offerings and Nash/Garo products; Other includes Emco Wheaton Fuel Systems and Loading Arms as well as OEM, portable and other offerings. (IR) Ingersoll Rand#14Precision and Science Technologies Highly Specialized Fluid Management Solutions Including Precision Liquid and Gas Pumps and Niche Compression Technologies Q1 2023 vs. Q1 2022 ($M) Current Year Prior Year YOY A Ex-FX YOY A Q1 2023 vs. Q1 2022 Revenue/Orders Bridge Organic FX M&A ΥΟΥ Δ Revenue $312.1 $297.4 4.9% 8.4% Orders Growth (1.7)% (3.2)% 1.8% (3.1)% Adj. EBITDA $94.5 $85.1 11.0% Revenue Growth 6.0% Adj. EBITDA Margin 30.3% 28.6% 170 bps (3.5)% 2.4% 4.9% Highlights • • Book to Bill of 1.05x; 64% YoY incremental margins Organic orders were up in all businesses except for the oxygen concentration business, which declined -$25M primarily due to longer cycle frame orders received in Q1 2022 that did not repeat in Q1 2023 • Continued improvement in Adjusted EBITDA margins both YoY and QoQ; primarily driven by using IRX across multiple areas such as price/cost, structural cost improvements on M&A, etc. Innovation in Action SEEPEX Battery Fluid (BF) Pump • Combined IR's channel knowledge and access to lithium-ion battery customers with SEEPEX technology to rapidly prototype and bring to market a mission-critical product in a high-growth, sustainable end market (Electric Vehicle Battery Production) • Unique progressive cavity design ensures zero contamination which is vital to precise, high-purity coatings $250M+ Addressable Market 14 1 Management assessment based on product maintenance costs as compared to current product offering. < 9 months From Concept to Execution 30% - 40% Reduced Maintenance Cost¹ (ÍR) Ingersoll Rand#15Raising 2023 Guidance¹ Revenue Total Ingersoll Rand Initial Guidance as of 2/21/23 7-9% Key Metrics 2 Revised Guidance as of 5/4/23 Change at Midpoint Full Year 2023 Assumptions 10-12% +300 bps • 2023 incremental margins of 35-40% . Ingersoll Rand (Organic)³ 3-5% 6-8% +300 bps Interest Expense: ~$165M • Adj. Tax Rate: -23% Industrial Technologies 3-5% 6-8% +300 bps . and Services (Organic) Capex: 2% of revenue Precision and Science 4-6% 5-7% +100 bps Technologies (Organic) ⚫ FCF³ to Adj. Net Income Conversion: ~100% Share count: ~409M FX Impact4 (~1%) ~Flat +100 bps M&A5 ~$270M ~$270M Corporate Costs (~$140M) (~$160M) +$20M Adjusted EBITDA³ $1,570M Adjusted EPS³ $1,630M (+9% +14% YoY) $2.48 $2.58 (+5% +9% YoY) $1,660M $1,710M (+16% +19% YoY) $2.64 (+11% +16% YoY) - +5% $2.74 +6% 15 15 1 Reconciliations of non-GAAP measures related to full-year 2023 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations due to the high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations, including net income (loss) and adjustments that could be made for acquisitions-related expenses, restructuring and other business transformation costs, gains or losses on foreign currency exchange and the timing and magnitude of other amounts in the reconciliation of historic numbers. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results. 2 All revenue outlook commentary expressed in percentages and based on growth as compared to 2022. 3 Non-GAAP measure (definitions and/or reconciliations in appendix). 4 Based on March 2023 FX rates; does not include impact of FX on M&A. 5 Reflects all completed and closed M&A as of May 1, 2023. IR Ingersoll Rand#1616 Key Takeaways Investing with Ingersoll Rand 01 Continued robust performance in Q1 2023 • • Delivering record results while navigating ongoing macro challenges Ongoing backlog momentum provides confidence in updated guidance Prepared and nimble in the event of a downturn Continuing to differentiate Ingersoll Rand as an investment: . 02 • Impactful innovation targeted at high-growth sustainable markets Sustainability as a growth enabler and an operational imperative Delivering organic and inorganic growth to drive improved profitability 03 04 05 IRX is our backbone and continues to enable outperformance in every facet of the Company Executing on strategic opportunities supported by ample liquidity and strong balance sheet Disciplined, comprehensive and reaffirmed capital allocation strategy to compound earnings and deliver continued value creation for shareholders (IR) Ingersoll Rand#17Appendix R Ingersoll Rand. VALUES We foster inspired teams Deploy Talent STRATEGIC FOCUS. We are bold in our r aspirations while moving forward with humility & integrity Accelerate Growth INGERSOLL RAND IRX EXECUTION EXCELLENCE Lead Sustainably Wcustomers smaking EXECUTION our Expand Margins successful Allocate Capital Effectively We think and act like owners#1818 Non-U.S. GAAP Measures of Financial Performance In addition to consolidated GAAP financial measures, Ingersoll Rand reviews various non-GAAP financial measures, including "Organic Revenue Growth," "Adjusted EBITDA," "Adjusted Net Income," "Adjusted Diluted EPS" and "Free Cash Flow." Ingersoll Rand believes Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted EPS are helpful supplemental measures to assist management and investors in evaluating the Company's operating results as they exclude certain items that are unusual in nature or whose fluctuation from period to period do not necessarily correspond to changes in the operations of Ingersoll Rand's business. Ingersoll Rand believes Organic Revenue Growth is a helpful supplemental measure to assist management and investors in evaluating the Company's operating results as it excludes the impact of foreign currency and acquisitions on revenue growth. Adjusted EBITDA represents net income before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and other adjustment items. Adjusted Net Income is defined as net income including interest, depreciation and amortization of non-acquisition related intangible assets and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions. Organic Revenue Growth is defined as As Reported Revenue growth less the impacts of Foreign Currency and Acquisitions. Ingersoll Rand believes that the adjustments applied in presenting Adjusted EBITDA and Adjusted Net Income are appropriate to provide additional information to investors about certain material non-cash items and about non-recurring items that the Company does not expect to continue at the same level in the future. Adjusted Diluted EPS is defined as Adjusted Net Income divided by Adjusted Diluted Average Shares Outstanding. Incrementals/Decrementals are defined as the change in Adjusted EBITDA versus the prior year period divided by the change in revenue versus the prior year period. Ingersoll Rand uses Free Cash Flow to review the liquidity of its operations. Ingersoll Rand measures Free Cash Flow as cash flows from operating activities less capital expenditures. Ingersoll Rand believes Free Cash Flow is a useful supplemental financial measures for management and investors in assessing the Company's ability to pursue business opportunities and investments and to service its debt. Free Cash Flow is not a measure of our liquidity under GAAP and should not be considered as an alternative to cash flows from operating activities. (IR) Ingersoll Rand#19Q1 2023 Financial Performance - As Reported ($M, excl. EPS) $104 Net Income¹ Up 55% $161 $0.25 EPS² Up $0.14 $0.39 Q1 2022 Q1 2023 Q1 2022 Q1 2023 19 1 Net Income as reported defined as Net Income Attributable to Ingersoll Rand Inc. 2 Diluted EPS defined as (Net Income Attributable to Ingersoll Rand Inc.)/ (Diluted Average Shares Outstanding). (IR) Ingersoll Rand#2020 Adjusted Financial Information (Unaudited; in millions) Revenues Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Income Adjusted Net Income Margin For the Three Month Period Ended March 31, 2023 2022 $ 1.629.3 $ 1,337.0 $ 400.1 $ 303.6 24.6 % 22.7 % 267.0 $ 201.2 16.4 % 15.0 % (IR) Ingersoll Rand#2121 Reconciliation of Net Income to Adjusted Net Income (Unaudited; in millions) For the Three Month Period Ended March 31, Net Income Less: Loss from discontinued operations Less: Income tax benefit from discontinued operations Income from Continuing Operations 2023 2022 $ 163.2 $ 104.5 (1.8) 0.4 163.2 105.9 Plus: Provision for income taxes 48.1 32.4 Amortization of acquisition related intangible assets 89.8 82.6 Restructuring and related business transformation costs 4.3 14.2 Acquisition and other transaction related expenses and non-cash charges 18.0 9.5 Stock-based compensation 12.1 19.8 Foreign currency transaction losses (gains), net 1.0 (3.8) Loss (income) on equity method investments (0.3) 4.3 Adjustments to LIFO inventories Other adjustments Minus: 7.8 (6.1) (5.2) Income tax provision, as adjusted 75.6 58.5 Interest income on cash and cash equivalents (4.7) Adjusted Net Income $ 267.0 $ 201.2 R) Ingersoll Rand#22Reconciliation of Diluted Net Income Per Share to Adjusted Diluted Net Income Per Share from Continuing Operations (Unaudited; in millions, except per share amounts) For the Three Month Period Ended March 31, 222 22 2023 2022 Diluted Net Income Per Share (As Reported)¹ $ 0.39 $ 0.25 Less: Diluted Net Income Per Share from Discontinued Operations (As Reported)¹ Diluted Net Income Per Share from Continuing Operations (As Reported)¹ Plus: 0.39 0.25 Provision for income taxes 0.12 0.08 Amortization of acquisition related intangible assets 0.22 0.20 Restructuring and related business transformation costs 0.01 0.04 Acquisition and other transaction related expenses and non-cash charges 0.04 0.02 Stock-based compensation 0.03 0.05 Foreign currency transaction losses (gains), net (0.01) Loss (income) on equity method investments 0.01 Adjustments to LIFO inventories Other adjustments Minus: Income tax provision, as adjusted 0.02 (0.01) (0.01) 0.18 0.14 Interest income on cash and cash equivalents (0.01) Adjusted Diluted Net Income Per Share from Continuing Operations² $ 0.65 $ 0.49 Average shares outstanding: Basic, as reported Diluted, as reported Adjusted diluted² 405.0 407.6 409.2 413.1 409.2 413.1 1 Basic and diluted earnings (loss) per share (as reported) are calculated by dividing net income (loss) attributable to Ingersoll Rand Inc. by the basic and diluted average shares outstanding for the respective periods. 2 Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to average shares outstanding. (IR) Ingersoll Rand#23Reconciliation of Net Income to Adjusted Earnings per Share (Unaudited; in millions, except per share amounts) For the Three Month Period Ended March 31, 23 23 Net Income Less: Loss from discontinued operations Less: Income tax benefit from discontinued operations Income from Continuing Operations 2023 2022 $ 163.2 $ 104.5 (1.8) 0.4 163.2 105.9 Plus: Provision for income taxes 48.1 32.4 Amortization of acquisition related intangible assets 89.8 82.6 Restructuring and related business transformation costs 4.3 14.2 Acquisition and other transaction related expenses and non-cash charges 18.0 9.5 Stock-based compensation 12.1 19.8 Foreign currency transaction losses (gains), net 1.0 (3.8) Loss (income) on equity method investments (0.3) 4.3 Adjustments to LIFO inventories Other adjustments Minus: 7.8 (6.1) (5.2) Income tax provision, as adjusted 75.6 58.5 Interest income on cash and cash equivalents (4.7) Adjusted Net Income $ 267.0 $ 201.2 Adjusted Basic Earnings Per Share¹ $ 0.66 $ 0.49 Adjusted Diluted Earnings Per Share² $ 0.65 $ 0.49 Average shares outstanding: Basic, as reported Diluted, as reported Adjusted diluted² 405.0 407.6 409.2 413.1 409.2 413.1 1 Adjusted basic and diluted (loss) earnings per share are calculated by dividing adjusted net income by the basic and diluted average shares outstanding for the respective periods. 2 Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to average shares outstanding. (IR) Ingersoll Rand#2424 Reconciliation of Net Income to Adjusted EBITDA and Adjusted Income from Continuing Operations, Net of Tax and Cash Flows from Operating Activities from Continuing Operations to Free Cash Flow (Unaudited; in millions) Net Income Less: Loss from discontinued operations Less: Income tax benefit from discontinued operations Income from Continuing Operations, Net of Tax Plus: Interest expense For the Three Month Period Ended March 31, 2023 2022 $ 163.2 $ 104.5 (1.8) 0.4 163.2 105.9 38.9 19.0 Provision for income taxes 48.1 32.4 Depreciation expense 20.7 21.3 Amortization expense 92.4 86.2 Restructuring and related business transformation costs 4.3 14.2 Acquisition and other transaction related expenses and non-cash charges 18.0 9.5 Stock-based compensation 12.1 19.8 Foreign currency transaction losses (gains), net 1.0 (3.8) Loss (income) on equity method investments (0.3) 4.3 Adjustments to LIFO inventories Other adjustments Adjusted EBITDA Minus: Interest expense 7.8 (6.1) (5.2) $ 400.1 $ 303.6 38.9 19.0 Income tax provision, as adjusted 75.6 58.5 Depreciation expense 20.7 21.3 Amortization of non-acquisition related intangible assets 2.6 3.6 Interest income on cash and cash equivalents $ (4.7) $ Adjusted Income from Continuing Operations, Net of Tax S 267.0 $ 201.2 Free Cash Flow from Continuing Operations: Cash flows from operating activities from continuing operations Minus: Capital expenditures Free Cash Flow from Continuing Operations 170.3 50.1 S 22.4 147.9 $ 17.9 32.2 (IR) Ingersoll Rand#25Orders & Revenue by Segment and Reconciliation of Segment Adjusted EBITDA to Net Income 25 25 (Unaudited; in millions) For the Three Month Period Ended March 31, 2023 2022 Orders Industrial Technologies and Services $ Precision and Science Technologies Total Orders $ 1,450.3 $ 326.5 1,776.8 $ 1,292.8 337.1 1,629.9 Revenue Industrial Technologies and Services $ 1,317.2 $ Precision and Science Technologies 312.1 Total Revenue $ 1.629.3 $ 1,039.6 297.4 1,337.0 Segment Adjusted EBITDA Industrial Technologies and Services $ 345.6 S Precision and Science Technologies 94.5 Total Segment Adjusted EBITDA $ 440.1 $ 247.4 85.1 332.5 Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes: Corporate expenses not allocated to segments $ Interest expense 40.0 S 38.9 28.9 19.0 Depreciation and amortization expense 113.1 107.5 Restructuring and related business transformation costs 4.3 14.2 Acquisition and other transaction related expenses and non-cash charges 18.0 9.5 Stock-based compensation 12.1 19.8 Foreign currency transaction losses (gains), net 1.0 (3.8) Adjustments to LIFO inventories 7.8 Other adjustments (6.1) (5.2) Income from Continuing Operations Before Income Taxes 211.0 142.6 Provision for income taxes 48.1 32.4 Income (loss) on equity method investments 0.3 (4.3) Income from Continuing Operations 163.2 105.9 Loss from discontinued operations, net of tax Net Income $ 163.2 $ (1.4) 104.5 (IR) Ingersoll Rand#2626 Orders and Revenue Growth by Segment¹ (Unaudited) For the Three Month Period Ended March 31, 2023 Orders Revenue Ingersoll Rand Organic growth Impact of foreign currency Impact of acquisitions Total orders and revenue growth 7.6% 20.4% (3.8%) (4.3%) 5.2% 5.8% 9.0% 21.9% Industrial Technologies & Services Organic growth 10.0% 24.5% Impact of foreign currency (3.9%) (4.5%) Impact of acquisitions 6.1% 6.7% Total orders and revenue growth 12.2% 26.7% Precision & Science Technologies Organic growth (decline) Impact of foreign currency Total orders and revenue growth (decline) Impact of acquisitions (1.7%) 6.0% (3.2%) (3.5%) 1.8% 2.4% (3.1%) 4.9% 1 Organic growth/(decline), impact of foreign currency, and impact of acquisitions are non-GAAP adjustments. References to "impact of acquisitions" refer to GAAP sales from acquired businesses recorded prior to the first anniversary of the acquisition. The portion of GAAP revenue attributable to currency translation is calculated as the difference between (a) the period-to-period change in revenue (excluding acquisition sales) and (b) the period-to-period change in revenue (excluding acquisition sales) after applying prior year foreign exchange rates to the current year period. (IR) Ingersoll Rand#27Supplemental Combined Financial Information by Segment 27 27 Ingersoll Rand Supplemental Adjusted Orders Supplemental Adjusted Revenue (non-GAAP) Supplemental Adjusted EBITDA (non-GAAP) Supplemental Adjusted EBITDA Margin (non-GAAP) Industrial Technologies & Services Supplemental Adjusted Orders Supplemental Adjusted Revenue (non-GAAP) Precision & Science Technologies For the Twelve Months Ended December 31, 2020 2019 4,410.4 $ 4,829.9 4,344.4 4,907.8 933.9 960.2 21.5% 19.6% $ 3,576.2 $ 3,983.0 3,540.0 4,057.5 Supplemental Adjusted Orders $ 834.2 $ Supplemental Adjusted Revenue (non-GAAP) 804.4 846.9 850.3 (IR) Ingersoll Rand#2828 Reconciliation of GAAP Revenue to Supplemental Adjusted Revenue and Adjusted EBITDA to Supplemental Adjusted EBITDA by Segment and for the Company Segment For the Twelve Month Period Ended December 31, 2020 For the Twelve Month Period Ended December 31, 2019 GAAP Revenue Adjustments (1) Supplemental Adjusted Revenue GAAP Revenue Adjustments (2) Supplemental Adjusted Revenue Industrial Technologies & Services Precision & Science Technologies $3,248.2 $ 725.0 Total Company $ 3,973.2 $ 291.8 $ 79.4 371.2 $ 3,540.0 804.4 4,344.4 $ 1,700.9 316.6 $ 2,356.6 $ 4,057.5 $ 2,017.5 $ 533.7 2,890.3 $ 850.3 4,907.8 Adjusted Adjustments EBITDA (1) Supplemental Adjusted EBITDA Adjusted Adjustments EBITDA (1) Supplemental Adjusted EBITDA Segment Industrial Technologies & Services $ 759.8 $ Precision & Science Technologies Total Segments 220.2 40.3 $ 20.4 $ 980.0 $ 60.7 $ 800.1 $ 391.4 240.6 95.8 1,040.7 $ 487.2 $ 424.7 $ 140.1 816.1 235.9 $ 564.8 $ 1,052.0 1. 2. For the year ended December 31, 2020, the "Adjustments" column represents the impact of two months (January and February of 2020) of standalone legacy Ingersoll Rand Industrial Segment activity. As it relates to adjustments to Segment Adjusted EBITDA, these amounts are impacted by the merged Company's corporate costs, a portion of which is allocated to the business segments. For the year ended December 31, 2019, the "Adjustments" column represents the impact of one full year of 2019 standalone legacy Ingersoll Rand Industrial Segment activity. As it relates to adjustments to Segment Adjusted EBITDA, these amounts are impacted by the newly merged Company's corporate costs, a portion of which is allocated to the business segments. (IR) Ingersoll Rand#29Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA and Supplemental Adjusted EBITDA 29 29 Net Income (Loss) (GAAP) Less: Income from discontinued operations Less: Income tax provision from discontinued operations Income (loss) from continuing operations, net of tax Plus (1): Interest expense For the Twelve Months Ended December 31, 2020 2019 $ (32.4) S 159.1 26.0 80.7 (1.6) (18.9) (56.8) 97.3 111.1 88.4 Provision for income taxes 11.4 12.9 Depreciation expense 75.3 41.2 Amortization expense 335.1 105.3 Impairment of intangible assets 19.9 Restructuring and related business transformation costs 88.0 19.6 Acquisition related expenses and non-cash charges 181.5 54.6 Stock-based compensation 47.0 20.2 Foreign currency transaction losses, net 18.6 7.3 Loss on extinguishment of debt Shareholder litigation settlement recoveries Adjustments to LIFO inventories Other adjustments Adjusted EBITDA (1) 2.0 0.2 (6.0) 39.8 0.2 5.2 0.4 878.1 441.6 Additional Segment Adjusted EBITDA Adjustments (2): Industrial Technologies & Services Precision & Science Technologies Incremental corporate expenses not allocated to segments Supplemental Adjusted EBITDA $ 40.3 20.4 S 424.8 140.2 (4.9) (46.4) 933.9 960.2 1 These amounts are reported in accordance with US GAAP and have not been adjusted to reflect the pro forma impact of a full quarter of the combined Ingersoll Rand. 2. These "Additional Segment Adjusted EBITDA Adjustments" represent the impact of two months (January and February of 2020) of standalone legacy Ingersoll Rand Industrial Segment activity in the twelve month period ended December 31, 2020 and a full year of standalone legacy Ingersoll Rand Industrial Segment activity in the twelve month period ended December 31, 2019. The incremental corporate expenses not allocated to segments represent additional corporate expenses incurred by the Company to operate the combined Ingersoll Rand. (IR) Ingersoll Rand#3030 GDI Industrials Segment Results For the Twelve Months Ended December 31. For the Percent Change 2019 Segment Revenues $ 1,301.3 $ Segment Adjusted EBITDA Segment Margin $ 296.6 2018 1.303.3 288.2 2019 vs. 2018 (0.2)% 2.9 % 22.8 % 22.1 % 70 bps (IR) Ingersoll Rand