Engineering a Cleaner, Healthier World - Financial Overview

Disciplined Capital Allocation Prioritization ا Capital Spending × Restructuring Mandatory and Optional Debt Repayment Strategic Acquisitions Share Repurchase MODINE Engineering a Cleaner, Healthier World Reallocate capital to growth businesses Target capital spending at ~3% of sales ~$20-30M cash spend next year ~$10-15M cash spend annually in years 2 through 4 Fully fund through operating cash flow, lower capital spending, cost reductions, and improved pricing Manageable mandatory debt repayments. Plenty of debt capacity and covenant flexibility to execute on strategic M&A transactions Anti-dilutive share repurchase plan Will evaluate additional repurchases based on cash flow, economic climate, and competing cash needs 20 20

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