Itron Investor Presentation

NETWORKED SOLUTIONS SEGMENT: Q4'22 Revenue, gross margin and operating margin $ in millions, actual currency $301 $265 30.2% 32.8% 23.4% 18.6% Q4'21 Q4'22 Revenue Gross Margin Operating Margin Itron ©2023 ITRON PROPRIETARY Revenue up 14% and 15% in constant currency >> Ramp of new and existing deployments Gross margin up 260 bps >> Favorable mix >> Partially offset by elevated component costs Operating margin up 480 bps >> Fall through of higher gross profit >> Lower opex ITRI Itron Investor Presentation - February 2023 | 23

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