Engineering a Cleaner, Healthier World

Financial Transformation MODINE Engineering a Cleaner, Healthier World Launched 80/20 Initiative Simplified and segmented the business Treated businesses differently FY 2022 ☐ Achieve and maintain 10-12% EBITDA margins Reallocated people and capital Focused on margin improvement over top- line growth FY 2023 Create stronger financial profile with higher margins, cash flow, and enterprise value Move towards median diversified industrial performance Exceed Modine's historical high-water mark We Are Here FY 2024 Provide flexibility for acquisitions, divestitures and organic growth Target bolt-on and strategic acquisitions Add new technology and next generation products Enter new geographic regions FY 2025-27 Revenue $2.1 billion $2.3 billion 6-11% growth EBITDA 7.7% Margin FCF% of Sales 9.2% 11-12% (1.4%) 2.5% 3-5% See appendix for Non-GAAP reconciliations 8-10% CAGR 13-15% 6-8% 21

View entire presentation