Itron Investor Presentation

CAPITAL ALLOCATION PRIORITIES NEAR-TERM CAPITAL DEPLOYMENT FRAMEWORK ORGANIC INVESTMENT » Continuing shift to asset-light business model » Technology innovation fueled by investment in R&D >> Investing in strategic component supply STRATEGIC OPPORTUNITIES » Disciplined approach to M&A >> Focus on expanding Outcomes » Targeting complementary value- add solutions that will scale with our existing offerings CREATING VALUE >> Focus on long-term shareholder value creation >> Maintain flexibility in capital structure to capture value Itron ©2023 ITRON PROPRIETARY ITRI Itron Investor Presentation - February 2023 | 18

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