Third Quarter 2023 Earnings Conference Call

ITW 7 Q3'23 Segment Performance CONSTRUCTION PRODUCTS $527M (1)% $522M 25.7% SPECIALTY PRODUCTS +420 bps 29.9% $438M (6)% +10 bps $414M 27.8% 27.7% Q3'22 Q3'23 Q3'22 Q3'23 Q3'22 Total Revenue Operating Margin Q3'23 Total Revenue • Organic revenue (2)% North America 2% • Europe (8)% • Australia/New Zealand (4)% Q3'22 Q3'23 Operating Margin • Organic revenue (6) %, divestiture impact (2)% • North America (9) % • International 1% Never stronger. Never better positioned for the future.

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