Investor Presentaiton

Uses of Cash Purchases of Goods and Services The Company purchases goods and services in the normal course of business based on expected usage. For certain purchases, the Company enters into purchase obligations with various vendors, which include short-term and long-term commitments for purchases of raw materials, outstanding non-cancelable purchase orders, releases under blanket purchase orders, and commitments under ongoing service arrangements. As of December 31, 2022, the Company has purchase obligations to support the operation of its business similar to those included in historical cash flow trends. Capital Expenditures Capital expenditures were $598 million, $575 million, and $389 million in 2022, 2021 and 2020, respectively. Eaton expects approximately $630 million in capital expenditures in 2023. Dividends Cash dividend payments were $1,299 million, $1,219 million, and $1,175 million for 2022, 2021 and 2020, respectively. On February 23, 2023, Eaton's Board of Directors declared a quarterly dividend of $0.86 per ordinary share, a 6% increase over the dividend paid in the fourth quarter of 2022. The dividend is payable on March 24, 2023 to shareholders of record on March 6, 2023. Payment of quarterly dividends in the future depends upon the Company's ability to generate net income and operating cash flows, among other factors, and is subject to declaration by the Eaton Board of Directors. The Company intends to continue to pay quarterly dividends in 2023. Share Repurchases On February 27, 2019, the Board of Directors adopted a share repurchase program for share repurchases up to $5.0 billion of ordinary shares (2019 Program). On February 23, 2022, the Board renewed the 2019 Program by providing authority for up to $5.0 billion in repurchases to be made during the three-year period commencing on that date (2022 Program). Under the 2022 Program, the ordinary shares are expected to be repurchased over time, depending on market conditions, the market price of ordinary shares, capital levels, and other considerations. During 2022, 2.0 million ordinary shares were repurchased under the 2022 Program in the open market as a total cost of $286 million. During 2021, 0.9 million ordinary shares were repurchased under the 2019 Program in the open market at a total cost of $122 million. At December 31, 2022, there is $4,714 million still available for share repurchases under the 2022 Program. The Company will continue to pursue share repurchases in 2023 depending on market conditions and capital levels. Acquisition of Businesses The Company paid cash of $610 million, $4,500 million, and $200 million to acquire businesses in 2022, 2021 and 2020, respectively. The Company will continue to focus on deploying its capital toward businesses that provide opportunities for higher growth and strong returns, and align with secular trends and its power management strategies. Debt The Company manages a number of short-term and long-term debt instruments, including commercial paper. For additional information on financing transactions and debt, see Note 8. Leases See Note 7 for maturities of lease liabilities. Unrecognized Income Tax Benefits At December 31, 2022, the gross unrecognized income tax benefits totaled $1,235 million and interest and penalties were $137 million. Eaton cannot predict with reasonable certainty the timing of cash settlements with the respective taxing authorities. For additional information about income taxes see Note 11. 89

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