Itron Investor Presentation

OUTCOMES SEGMENT: Q4'22 Revenue, gross margin and operating margin $ in millions, actual currency $64 $66 46.5% 42.6% 25.1% 26.4% Q4'21 Q4'22 Revenue Gross Margin Operating Margin Itron ©2023 ITRON PROPRIETARY Revenue up 4% and 7% in constant currency >> Higher software license and product sales >> Partially offset by decline in EMEA prepay business Gross margin up 390 bps » Favorable mix » Increased operational efficiencies Operating margin up 130 bps >> Fall through of higher gross profit >> Partially offset by higher research & development investment ITRI Itron Investor Presentation - February 2023 | 25

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