Third Quarter 2023 Earnings Conference Call

ITW 6 Q3'23 Segment Performance WELDING POLYMERS & FLUIDS +10 bps 31.5% 31.6% $477M $468M (2)% $473M $458M (3)% +280 bps 28.1% 25.3% Q3'22 Q3'23 Total Revenue Q3'22 Q3'23 Operating Margin Q3'22 Q3'23 Q3'22 Q3'23 Total Revenue Operating Margin Organic revenue (2)% Equipment (3)%, Consumables (1)% North America (3)% International flat • • Organic revenue 3%; divestiture impact (6)% Automotive Aftermarket 10% Polymers (1)% Fluids (4)% Never stronger. Never better positioned for the future.

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