Slide 1: Q2 FY’26 Earnings
Q2 FY’26 Earnings NOVEMBER 5, 2025 November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 2: Forward Looking Statements
Forward Looking Statements As a reminder, we will be presenting certain forward-looking statements on this call that are based on Management’s current expectations and views regarding future events and operating performance and are subject to uncertainties and changes in circumstances. Our actual re
Slide 3: Q2 FY’26 Overview
Q2 FY’26 Overview S H AW N O ' C O N N E L L PRESIDENT AND CHIEF EXECUTIVE OFFICER November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 4: Q2’26 Call Highlights
Q2’26 Call Highlights Record Q2 net sales +8% Y/Y and +7% Q/Q Record Q2 adjusted EPS1 ex 45X benefits +15% Y/Y and +37% Q/Q Realizing early EnerGize achievements Positive demand trends in the majority of our end markets, with some timing variability Returned $78M to shareholders through buybacks and
Slide 5: Q2’26 Performance
Q2’26 Performance ADJUSTED EPS1 EX 45X $1.51 UP +15% Y/Y $951M $130M $146M $2.56 $197M Net Adj Op Adj Adj Free Cash Sales Earnings1,2 EBITDA1,2 EPS1,2 Flow1 +8% Y/Y +13% Y/Y +13% Y/Y +21% Y/Y +$194M Y/Y +10% Y/Y ex 45X +11% Y/Y ex 45X +15% Y/Y ex 45X Adj Gross Margin1,2 of 29.1% +40bps Y/Y; ex 45X A
Slide 6: EnerGize Progress Update
EnerGize Progress Update OPTIMIZE • Realizing Early Cost Savings | Reduction in force actions largely complete; Our Core expect to realize $30M - $35M of net savings FY’26 • Delivering for our Customers | Power Electronics CoE cut validation time on new components, enabling faster delivery with larg
Slide 7: Tariff Landscape & Mitigation
Tariff Landscape & Mitigation TAR I F F E X P O S U R E 1 M I T I G AT I O N & AC T I O N S • Dedicated Tariff Task Force in place O R I G I N O F U S S U P P LY S O U R C E S • Proactively assessing and mitigating: ~$70M Current Annualized Tariff Exposure ‒ Direct tariff and inflation pressures • ~
Slide 8: Demand Trends
Demand Trends O R D E R PAT T E R N S F L U C T U AT I N G O N M I X E D M A R K E T D Y N A M I C S Orders1 Book to Bill1 Backlog1 0.97 0.90 984 862 851 900 Book to Bill1 0.88 Total Company 0.95 1.06 0.91 0.97 0.91 0.87 0.90 0.85 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 MP ES SP Total MP ES SP Total MP
Slide 9: Sustainability Report Highlights
Sustainability Report Highlights IMPROVING EFFICIENCY AND REDUCING COSTS Energy Efficiency • Reduced energy intensity 19% per kWh produced since FY’21 Gains Cost-Saving • Advanced HVAC controls at Warrensburg, MO plant Facility • Reduced annual energy costs by $250k Upgrades • Avoids 1,900 metric to
Slide 10: 2026 Investor Day June 11, 2026
SAVE THE DATE 2026 INVESTOR DAY JUNE 11, 2026 NEW YORK CITY November 2025 © 2025 EnerSys. All Rights Reserved. 10
Slide 11: Q2’26 Financial Results Q3’26 Outlook
Q2’26 Financial Results Q3’26 Outlook ANDI FUNK EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 12: Q2’26 Results
Q2’26 Results N E T S AL E S AD J O P E AR N I N G S 1 & M AR G I N $130 $951 $115 13.6% $884 13.0% Y/Y %Δ Volume +3% Price/mix +3% Acquisition +1% $82 $90 FX +1% ex 45X ex 45X Total +8% 9.3% 9.5% Q2'25 Q2'26 Q2'25 Q2'26 AD J E B I T D A 1 & M AR G I N AD J D I L U T E D E P S 1 $146 $2.56 $129 15.3
Slide 13: Q2’26 Business Segment Financials
Q2’26 Business Segment Financials Adj Op Adj OE Energy Systems Net Sales ($M and Y/Y %) Earnings1 Margin1 • Continued Data Center growth and ongoing recovery in U.S. Communications Energy $435 Volume +10% $33.6 7.7% • Realizing cost optimization benefits supporting Price/mix +3% Systems +14% FX +1%
Slide 14: Balance Sheet, Cash Flow and Leverage
Balance Sheet, Cash Flow and Leverage S E L E C T E D B AL AN C E S H E E T M E T R I C S 1 S E L E C T E D C AS H F L O W M E T R I C S 2 ($M) Q4’25 Q2’26 ($M) Q2’25 Q2’26 Cash and Cash Equivalents $343 $389 Cash Flow from Operations $34 $218 Net Debt3 $781 $842 CapEx ($30) ($21) Net Leverage Ratio
Slide 15: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Priorities Q2’26 Future Priorities • Enhance disciplined ROIC thresholds Invest in Organic Growth $21M • Drive incremental operational efficiencies (CapEx) • Progress domestic-sourced lithium strategy • Focused on opportunities to: ➢ Strengthen customer intima
Slide 16: Looking Ahead: Q3’26 Guidance
Looking Ahead: Q3’26 Guidance Q U A N T I F I E D F U L L Y E A R G U I D A N C E PA U S E D AS S U M P T I O N S Y/Y CHANGE Q 3 ’ 2 6 G U I D AN C E 1 (AT M IDPOINT OF Q3’26 GUIDANCE) • ES: Strong Data Center demand and steady Communications Net Sales $920M – $960M +4% market recovery tempered by Q
Slide 17: Q&A
Q&A November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 18: Appendix
Appendix November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations November 2025 © 2025 EnerSys. All Rights Reserved.
Slide 20: Non-GAAP Reconciliation: Quarterly Adjusted Operating Earnings
Non-GAAP Reconciliation Q U A R T E R LY A D J U S T E D O P E R AT I N G E A R N I N G S November 2025 © 2025 EnerSys. All Rights Reserved. 20
Slide 21: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation ADJUSTED EBITDA November 2025 © 2025 EnerSys. All Rights Reserved. 21
Slide 22: Non-GAAP Reconciliation: Quarterly Adjusted Diluted EPS
Non-GAAP Reconciliation Q U A R T E R LY A D J U S T E D D I L U T E D E P S November 2025 © 2025 EnerSys. All Rights Reserved. 22
Slide 23: Non-GAAP Reconciliation: Adjusted Diluted EPS Continued
Non-GAAP Reconciliation Q U A R T E R LY A D J U S T E D D I L U T E D E P S C O N T I N U E D The following table provides the line of business allocation of the non-GAAP adjustments of items relating to operating earnings (that are allocated to lines of business) shown in the reconciliation prior:
Slide 24: Non-GAAP Reconciliation: Leverage Ratio by Year
Non-GAAP Reconciliation L E V E R A G E R AT I O B Y Y E A R (1) The $56.2 million adjustment to EBITDA in the last twelve months ending March 31, 2025 primarily related to $27.8 million of non-cash stock compensation, $22.0 million of restructuring and other exit charges, impairment of indefinite-l
Slide 25: Non-GAAP Reconciliation: Leverage Ratio by Quarter
Non-GAAP Reconciliation L E V E R A G E R AT I O B Y Q U A R T E R 1. The $84.3 million adjustment to EBITDA in the last twelve months ending September 28, 2025 primarily related to $38.4 million of non-cash stock compensation, $22.7 million of restructuring and other exit charges, impairment of ind
Slide 26: Non-GAAP Reconciliation: Free Cash Flow
Non-GAAP Reconciliation FREE CASH FLOW November 2025 © 2025 EnerSys. All Rights Reserved. 26
Slide 27: Non-GAAP Reconciliation: Gross Profit and Gross Margin ex 45X
Non-GAAP Reconciliation GROSS PROFIT AND GROSS MARGIN EX 45X November 2025 © 2025 EnerSys. All Rights Reserved. 27
Slide 28: Non-GAAP Reconciliation: Adjusted Gross Profit and Gross Margin
Non-GAAP Reconciliation ADJUSTED GROSS PROFIT AND GROSS MARGIN November 2025 © 2025 EnerSys. All Rights Reserved. 28
Slide 29: Key Performance Indicator: Primary Operating Capital
Key Performance Indicator P R I M A R Y O P E R AT I N G C A P I TA L As part of managing the performance of our business, we monitor the level of primary operating capital, and its ratio to net sales. We define primary operating capital as accounts receivable, plus inventories, minus accounts payab
Slide 30: Thank you.
Thank you. For more information visit us at www.enersys.com November 2025 © 2025 EnerSys. All Rights Reserved. Trademarks and logos are property of EnerSys and its affiliates unless otherwise noted. Subject to revisions without prior notice. E.&O.E.