Itron Investor Presentation

GAAP TO NON-GAAP RECONCILIATIONS Itron ©2023 ITRON PROPRIETARY ITRON, INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES (Unaudited, in thousands, except per share data) TOTAL COMPANY RECONCILIATIONS NON-GAAP OPERATING EXPENSES GAAP operating expenses Amortization of intangible assets Restructuring Loss on sale of business Acquisition and integration Non-GAAP operating expenses NON-GAAP OPERATING INCOME GAAP operating income (loss) Amortization of intangible assets Restructurina Loss on sale of business Acquisition and integration 2023 Three Months Ended March 31, 2022 $ 166,761 $ (5,048) 128,405 (6,553) (36,609) 6,366 (18) (2,221) (45) (62) S 125,041 $ 125,935 $ (10,393) $ 6,819 5.048 6.553 36.609 (6.366) 18 2.221 45 62 $ 31,327 S 9,289 Non-GAAP operating income NON-GAAP NET INCOME & DILUTED EPS GAAP net income (loss) attributable to Itron, Inc. $ (11,836) $ 906 Amortization of intangible assets Amortization of debt placement fees Restructuring 5.048 845 36,609 6.553 796 (6,366) Loss on sale of business Acquisition and integration Income tax effect of non-GAAP adjustments Non-GAAP net income attributable to Itron, Inc. Non-GAAP diluted EPS Non-GAAP weighted average common shares outstanding - Diluted 18 2.221 45 62 (8,347) 999 S 22,382 $ 5,171 $ 0.49 $ 0.11 45,572 45,240 ITRI Itron Investor Presentation - May 2023 | 29

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