Itron Investor Presentation

NETWORKED SOLUTIONS SEGMENT: FY'22 Revenue, gross margin and operating margin $ in millions, actual currency $1,119 $1,093 34.7% 32.3% 23.3% 22.2% YTD 2021 YTD 2022 Revenue Gross Margin Operating Margin Itron ©2023 ITRON PROPRIETARY Revenue up 2% and 3% in constant currency » Ramp of new and existing deployments >> Partially offset by constrained revenue due to component shortages Gross margin down 240 bps >> Inflationary pressures >> Unfavorable product mix >> Inefficiencies related to component shortages Operating margin down 110 bps >> Fall through of lower gross profit >> Partially offset by lower opex ITRI Itron Investor Presentation - February 2023 | 24

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