Third Quarter Fiscal 2023

CLIMATE SOLUTIONS (In millions) $227.3 Q3 FY22 $23.9 Net Sales 10.5% 9% Adjusted EBITDA & EBITDA Margin* $35.4 $248.6 48% Q3 FY23 14.2% Q3 FY22 Q3 FY23 * See appendix for the full GAAP income statement and Non-GAAP reconciliations 68% Data Centers ■ 3% HVAC&R ■ MODINE Engineering a Cleaner, Healthier World Strong demand in chillers including NA expansion Higher sales to school and commercial refrigeration markets, partially offset by 80/20 product rationalization 2% Heat Transfer Products ▪ Modest growth across global markets, with some softness in residential markets ▪ Excellent earning conversion on the higher sales ▪ 370 bps margin improvement driven by higher revenues in our key markets and 80/20 initiatives ▪ Lower SG&A as a percentage of sales, reduced 50 bps ▪ Data centers and HVAC&R markets remain strong Anticipating further weakness in Q4 across residential heating and HVAC markets 6

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