Engineering a Cleaner, Healthier World - Financial Overview
Non-GAAP Reconciliations
MODINE
Engineering a Cleaner, Healthier World
Forward-looking non-GAAP financial measures
This presentation includes forward-looking projections of non-GAAP financial measures, including adjusted
EBITDA and adjusted EBITDA margin, and free cash flow as a percentage of sales. The projections are based
on management's expectations of future financial results. For example, the Company's fiscal 2024 guidance
for adjusted EBITDA is based upon the Company's estimates for interest expense of approximately $23 to
$25 million, a provision for income taxes of approximately $38 to $45 million, and depreciation and
amortization expense of approximately $58 to $62 million. Adjusted EBITDA also excludes certain cash and
non-cash expenses or gains. These expenses and gains may be significant and include items such as
restructuring expenses (including severance costs and plant consolidation and relocation expenses),
impairment charges and certain other items. Estimates of these expenses and gains for fiscal 2024 and
beyond are not available due to the low visibility and unpredictability of these items.
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