Acquisition of ECM Industries
Reconciliation of Non-GAAP Financial Measures
Reconciliation of Earnings Before Income Taxes to Adjusted EBITDA of nVent Electric plc
For the Twelve-month Period Ended December 31, 2022 (Unaudited)
In millions
Net sales
Income before income taxes
Other expense (income)
Net interest expense
Operating income
Adjustments:
Restructuring and other
Acquisition transaction and integration costs
Intangible amortization
Depreciation
Adjusted EBITDA
$
10
$
2,909.0
472.6
(63.4)
31.2
440.4
11.7
0.8
70.7
43.4
567.0
The estimate of 2.8x initial pro-forma net leverage ratio is calculated based on approximately $1.9 billion of
expected total net debt (long-term and short-term debt, less cash and cash equivalents) immediately after the
transaction, divided by estimated combined Adjusted EBITDA of $671 million, including nVent Electric plc's
Adjusted EBITDA of $567 million for the twelve-month period ended December 31, 2022, plus ECM Adjusted
EBITDA of $104 million for the twelve-month period ended February 28, 2023.
Confidential For Internal Use Only
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