Third Quarter Fiscal 2023

PERFORMANCE TECHNOLOGIES ge Simplification Efficiency 囧 Focused Growth E Segmentation Value Creation Strategy Alignment Performance Culture Performance Technologies ▪ Launched 80/20 in the latter half of 2022 ▪ Well along in training the workforce ■ Leadership team in place and working on segmentation ▪ Focused on pricing to offset inflationary pressures Negotiated cost recovery with key customers Improved EBITDA margins incrementally for past two quarters Building order book in Advanced Solutions/EV Systems Implementing 80/20 throughout the organization Improving commercial terms where possible Rationalizing product lines ■ ■ MODINE Engineering a Cleaner, Healthier World - Improving cost structure through supply chain optimization Sharpening quoting filters for new programs Expect to see incremental benefits from 80/20 actions in FY24 5

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