Third Quarter Fiscal 2023

NON-GAAP RECONCILIATIONS Free cash flow (unaudited) (In millions) Net cash provided by operating activities Expenditures for property, plant and equipment Free cash flow Net debt (unaudited) (In millions) Debt due within one year Long-term debt Total debt Less: cash and cash equivalents Net debt $ $ $ Three months ended December 31, 2022 2021 11.8 $ (12.2) (0.4) December 31, 2022 30.9 358.9 389.8 82.2 307.6 $ $ $ 26.4 (10.3) 16.1 September 30, 2022 36.2 334.4 370.6 70.1 300.5 $ $ $ Nine months ended December 31, 2022 2021 March 31, 2022 67.9 $ (35.2) 32.7 29.4 348.4 377.8 45.2 332.6 $ MODINE Engineering a Cleaner, Healthier World 7.4 (30.7) (23.3) 16

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