Itron Investor Presentation

DEVICE SOLUTIONS SEGMENT: Q4'22 Revenue, gross margin and operating margin $ in millions, actual currency $157 $100 11.3% 9.0% 2.6% 2.2% Q4'21 Q4'22 Revenue Gross Margin Operating Margin Itron ©2023 ITRON PROPRIETARY Revenue down 36% and 27% in constant currency >> Sale of C&I gas business » Continued product pruning Gross margin up 230 bps >> Improving mix with discontinued lines of business » Partially offset by elevated component costs Operating margin up 40 bps >> Fall through of higher gross margin >> Partially offset by higher opex % ITRI Itron Investor Presentation - February 2023 | 21

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