Itron Investor Presentation

OUTCOMES SEGMENT: FY'22 Revenue, gross margin and operating margin $ in millions, actual currency $244 $238 39.0% 41.4% 20.8% 19.5% YTD 2022 Gross Margin Operating Margin YTD 2021 Revenue Itron ©2023 ITRON PROPRIETARY Revenue down 3% and flat in constant currency >> Decline in consulting business and EMEA prepay business >> Offset by an increase in Managed Services and Grid Operations Gross margin up 240 bps » Favorable mix » Increased operational efficiencies Operating margin down 130 bps >> Higher research & development investment ITRI Itron Investor Presentation - February 2023 | 26

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