Third Quarter Fiscal 2023

FISCAL 2023 OUTLOOK (In millions) 7 Adjusted EBITDA* ■ ■ Net sales Holding the Full Year Revenue and Adjusted EBITDA Outlook Holding guidance after a solid Q3; balancing earnings tailwinds with ongoing economic uncertainties ■ Guidance $2,170 to $2,300 $190 to $200 ■ Comments +6% to +12% +20% to +26% Slightly reduced outlook for HVAC&R due to weaknesses in products sold into the residential market Key Assumptions: ▪ Estimated interest expense of $20 - $21 million ▪ Estimated capex of $60 - $65 million Adjusted tax rate percentage in the mid 20s Depreciation and amortization expense of approximately $55 - $57 million * See appendix for the full GAAP income statement and Non-GAAP reconciliations Anticipating ongoing sequential Adjusted EBITDA and margin improvements in Q4 FY23 Global Sales Outlook Climate Solutions Data Centers HVAC & Refrigeration Heat Transfer Products Performance Technologies Advanced Solutions Liquid-Cooled Applications Air-Cooled Applications MODINE Engineering a Cleaner, Healthier World +50% - 60% +0% - 5% +0% - 5% +15% - 25% +5% - 10% +10% - 15% 10

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