Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Investor Presentation (August 2026)
25 slides from Modine Manufacturing's investor presentation, August 2026
Slide 1: Investor Presentation August 2026
Investor Presentation August 2026
Slide 2: Forward-Looking Statements and RMT Disclaimer
Forward-Looking Statements and RMT Disclaimer No Offer or Solicitation benefits of the Proposed Transaction, including future financial and operating results, anticipated strategic benefits of the Proposed Transaction, the amount and This communication is not intended to and does not constitute an o
Slide 3: Our Vision, Purpose, Mission and Values
OUR OUR OUR OUR VISION PURPOSE MISSION VALUES Always evolving Engineering A Cleaner, Reduce Water & Energy Integrity our portfolio of Healthier World Consumption Committed products in pursuit of highly Lower Harmful People Centric engineered, Emissions mission-critical Technology Driven Enable Clean
Slide 4: Modine At-a-Glance
Modine At-a-Glance $3.2B FY2026 Sales $471M FY2026 Adjusted EBITDA 46 Manufacturing Facilities in 14 Countries1 Americas: 24 Europe: 14 Asia: 8 ~13,200 Employees Light Vehicle Chiller 11% 16% Commercial Vehicle 11% AHU Performance 8% Technologies Data Centers 35% 35% Indoor Heavy-Duty 6% 13% Commerc
Slide 5: Data Centers
Data Centers The Data Centers segments provides a complete suite of data center cooling solutions to our hyperscale, colocation and neocloud customers. This includes full systems solutions and customized products designed to deliver energy efficient solutions and superior service, including system d
Slide 6: Commercial HVAC
Commercial HVAC Commercial HVAC offers a diverse portfolio of energy-efficient, safe, climate-controlled solutions and components for a wide range of mission-critical applications in niche end markets Products and Solutions Key End Markets FY26 Sales by End Market Commercial & Residential Commercial
Slide 7: Performance Technologies
Performance Technologies Performance Technologies provides engineered products and solutions that enhance fuel economy, minimize harmful emissions and increase reliability in harsh environments FY26 Sales by End Market Products and Solutions Key End Markets $1,132M Agricultural Construction Stationa
Slide 8: Strategic Pillars Driving Value Creation
Strategic Pillars Driving Value Creation Capitalizing on our deep expertise in thermal management to deliver differentiated solutions and sustained market leadership Leveraging our portfolio of highly engineered, mission-critical thermal solutions to accelerate growth Entering a multi-year growth cy
Slide 9: Deep Expertise in Thermal Management
Deep Expertise in Thermal Management HIGHLY ENGINEERED, MISSION-CRITICAL thermal solutions to meet the needs of our customers Over a century of leadership in thermal management Strong relationships with leading companies across many diversified industries Patent-protected, fit-for-purpose innovation
Slide 10: 80/20 is Repetitive and Timeless
80/20 is Repetitive and Timeless Clea n Up & Simplify n Up & Simplify Clea Simplification Segmentation • Our 80/20 journey is a High Margin & High Growth 80/20 Fo cus e d G Strategy n Up & Simplify Simplification Segmentation Efficiency Value Alignment repetitive cycle Clea Creation S hift 80/20 • E
Slide 11: Evolving Portfolio Through Strategic Acquisitions and Divestitures
Evolving Portfolio Through Strategic Acquisitions and Divestitures Entry into DC market - Divestiture of Austrian (2021) Acquisitions of AbsolutAire Announced plan to spin-off Acquisition of Airedale and German (2023) automotive and L.B. White, adding Performance Technologies in the UK manufacturing
Slide 12: The New Modine – A Pure Play Climate Solutions Company
The New Modine – A Pure Play Climate Solutions Company Global market leader of innovative thermal management and pneumatic comfort technologies Performance Technologies Climate Solutions Global leader in engine and Global leader in data center powertrain cooling for internal cooling technologies and
Slide 13: Key Elements of Our Transaction with Gentherm
Key Elements of Our Transaction with Gentherm • Transaction structured as a Reverse Morris Trust which is tax-free to Modine and Modine shareholders • Transaction values Performance Technologies business at ~$1 billion (1) • Represents ~6.8x LTM 9/30/2025 Adjusted EBITDA • Modine receives $210 milli
Slide 14: A Complete Data Center Solution Provider
A Complete Data Center Solution Provider Fan Walls Chillers Our Right to Win in Global Data Centers Air Handling Units • We create, deliver, monitor and maintain CRAC / CRAH data center cooling systems for hyperscale, Dry Cooler colocation and neocloud customers globally • Our tailored systems solut
Slide 15: Leveraging Technology in Data Centers
Leveraging Technology in Data Centers Key Market Drivers Key Strategic Objectives • Exponential computing power needs Leverage industry expertise to expand product from high-density computing portfolio, capacity and geographic reach to meet applications drives need for new the data center cooling ne
Slide 16: Modine Services in Data Centers
Modine Services in Data Centers System Design Technology & Innovation • 50 years of cooling Product and System design • ACISTM building (BMS) & power systems (PMS) • Intelligent cooling systems design for high-density allows full monitoring and facilities management of environments the data center –
Slide 17: Financial Trends
Financial Trends (In millions) Revenue and YOY % Growth $700 Adjusted EBITDA and Adjusted EBITDA Margin • Impressive rate of earnings and 22.0% $600 20.0% revenue growth, resulting from Adj. EBITDA acquisitions and 80/20 driven $500 $471 18.0% mix shifts $392 Outlook: $3,181 $650M to $680M 16.0% Sal
Slide 18: Capital Allocation Priorities
Capital Allocation Priorities 1 Investment in Organic Growth • Allocate capital to growth businesses, particularly data center capacity expansion • Target capital spending of 3% to 5% of sales 2 Strategic Acquisitions • Adequate balance sheet flexibility to execute strategic M&A 3 Portfolio Transfor
Slide 19: Well-Positioned for Success
Well-Positioned for Success Delivering end-market diversification for business resiliency through economic cycles Providing strategic flexibility through strong free cash flow and balance sheet Furthering focus on organic and inorganic investment to achieve revenue and EBITDA growth 80 20 Leveraging
Slide 20: Appendix
Appendix
Slide 21: Transaction Summary
Transaction Summary – Modine to spin-off Modine Performance Technologies and simultaneously combine SpinCo (which will own Modine Performance Technologies) with a wholly-owned subsidiary of Gentherm in a Reverse Morris Trust transaction valued at ~$1.0 billion(1) and intended to be tax-free for Modi
Slide 22: Non-GAAP Reconciliations
Non-GAAP Reconciliations Modine Manufacturing Company Adjusted EBITDA (In millions) Twelve months ended March 31, 2026 2025 2024 2023 Net earnings $ 123.3 $ 185.5 $ 163.4 $ 153.6 Interest expense 31.6 26.4 24.1 20.7 Provision (benefit) from income taxes 63.2 68.5 51.2 (28.3) Depreciation and amortiz
Slide 23: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) Restructuring expenses primarily consist of employee severance expenses and equipment transfer costs. (b) During fiscal 2026, the Company recorded a $4.1 million non-cash asset impairment charge related to its technical service center and administrative support facility
Slide 24: Non-GAAP Reconciliations
Non-GAAP Reconciliations Free cash flow (In millions) Twelve months ended March 31, 2026 2025 2024 2023 Net cash provided by operating activities $ 248.7 $ 213.3 $ 214.6 $ 107.5 Expenditures for property, plant and equipment (143.3) (84.0) (87.7) (50.7) Free cash flow $ 105.4 $ 129.3 $ 126.9 $ 56.8
Slide 25: Forward-Looking Non-GAAP Financial Measures
Forward-Looking Non-GAAP Financial Measures The Company’s fiscal 2027 guidance includes adjusted EBITDA, adjusted EBITDA margin and free cash flow, which are non- GAAP financial measures. The fiscal 2027 guidance for adjusted EBITDA includes the Company’s estimates for interest expense of approximat
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