Itron Investor Presentation

DEVICE SOLUTIONS SEGMENT: FY'22 Revenue, gross margin and operating margin $ in millions, actual currency $645 15.4% $439 14.1% 8.9% 6.1% YTD 2021 Revenue YTD 2022 Gross Margin Operating Margin Revenue down 32% and 23% in constant currency >> Sale of C&I gas business and other product pruning >> Foreign exchange rates » Constrained revenue due to component shortages Gross margin down 130 bps >> Inefficiencies related to component shortages >> Partially offset by favorable mix Operating margin down 280 bps >> Fall through of lower gross profit >> Partially offset by lower opex Itron ©2023 ITRON PROPRIETARY ITRI Itron Investor Presentation - February 2023 | 22

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