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Investor Presentaiton

Appendix V: Non-GAAP Measures (Adjusted EBITDA cont.) ($ in millions) Net income Add (less): Interest expense 2016 39.4 2017 2018 2019 2020 2021 2022 $ 60.5 $ 93.7 $ 108.4 $ 96.1 $ 100.6 $ 120.4 $ TTM Q2 2023 134.1 1.9 7.3 9.3 7.9 5.7 4.5 10.3 17.4 Pension settlement charges 6.1 10.3 Hearing loss settlement charges 1.5 0.4 Acquisition and integration-related expenses (benefits) 1.4 2.7 1.5 2.5 2.1 (2.1) (0.5) 2.2 Coronavirus-related expenses 2.3 1.2 Restructuring 1.7 0.6 Executive severance costs 0.7 90 1.3 Debt settlement charges Purchase accounting effects (a) Other (income) expense, net Income tax expense Depreciation and amortization Deferred gain recognition (b) Adjusted EBITDA Net Sales Adjusted EBITDA Margin 0.1 0.1 3.6 4.4 0.7 0.2 0.3 0.3 1.8 (0.8) 0.6 0.6 1.1 (1.7) (0.5) 1.4 17.4 0.5 17.9 30.2 28.5 17.0 30.5 32.0 19.1 30.0 36.4 41.5 44.8 50.4 54.7 57.4 (1.9) (2.0) (1.9) $ 84.7 $ 111.5 $ 158.6 $ 191.3 182.2 $ 180.5 $ 215.0 $ 244.6 $ 707.9 12.0% $ 898.5 $ 1,089.5 $ 1,221.3 12.4% 14.6% 15.7% $ 1,130.8 16.1% 14.9% $ 1,213.2 $ 1,434.8 $ 1,565.8 15.0% 15.6% (a) Excludes purchase accounting effects reflected in depreciation and amortization of $0.3 M, $0.4 M, $0.5 M, $0.6 M, $0.4 M and $0.4 M for 2016, 2017, 2018, 2019, 2020 and 2021, respectively. (b) Adjustment to exclude recognition of deferred gain associated with historical sale lease-back transactions. Effective 2019, the Company no longer recognizes the gain due to the adoption of new lease accounting standard. n 28
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