Itron Investor Presentation

GAAP TO NON-GAAP RECONCILIATIONS 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 Itron ©2023 ITRON PROPRIETARY Three Months Ended December 31, 2022 2021 2022 Twelve Months Ended December 31, 2021 NON-GAAP OPERATING EXPENSES GAAP operating expenses S Amortization of intangible assets 128,417 S (6,266) 228,757 (8,887) S 529,628 S 652,468 (25,717) (35,801) Restructuring 2,528 (55,453) 13,625 (54,623) Loss on sale of businesses (323) (36,015) (3,505) (64,289) Strategic initiative (675) Software project impairment (8,719) (8,719) Russian currency translation write-off (1,885) Goodwill impairment (38,480) Acquisition and integration Non-GAAP operating expenses S (136) 115,501 $ (519) 127,883 $ (506) 463,766 S (151) 497,604 NON-GAAP OPERATING INCOME (LOSS) GAAP operating income (loss) S Amortization of intangible assets 12,381 $ 6,266 (107,470) $ (7,439) $ (79,299) 8,887 Restructuring (2,528) 55,453 25,717 (13,625) 35,801 54,623 Loss on sale of businesses 323 36,015 3,505 64.289 Strategic initiative 675 Software project impairment 8,719 8,719 Russian currency translation write-off 1,885 Goodwill impairment 38,480 Acquisition and integration 136 Non-GAAP operating income (loss) S 25,297 $ 519 (6,596) $ 506 58,423 S 151 75,565 ITRI Itron Investor Presentation - February 2023 | 39

View entire presentation