Slide 1: Q4'25 & FY'25 Earnings
Q4’25 & FY’25 Earnings M AY 2 1 , 2 0 2 5 May 2025 © 2025 EnerSys. All Rights Reserved. 1
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: Q4'25 & FY'25 Overview
Q4’25 & FY’25 Overview D AV E S H A F F E R CHIEF EXECUTIVE OFFICER May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 4: Q4'25 & FY'25 Performance
Q4’25 & FY’25 Performance R E C O R D Q 4 ’ 2 5 & F Y ’ 2 5 A D J E P S 1,2,3 E X 4 5 X Net Adj Op Adj Adj Free Cash Sales Earnings1,2 EBITDA1,2 EPS1,2 Flow1 $975M $152M $167M $2.97 $105M Q4’25 +7% Y/Y +40% Y/Y +34% Y/Y +43% Y/Y ($4M) Y/Y +48% Y/Y ex 45X +39% Y/Y ex 45X +56% Y/Y ex 45X $3.6B $528M $
Slide 5: Segment Performance and Operations
Segment Performance and Operations S H AW N O ’ C O N N E L L PRESIDENT AND COO May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 6: New CEO Strategic Priorities
New CEO Strategic Priorities BUILD UPON ENERSYS’ STRENGTHS F O C U S AR E AS • Deep customer relationships • Near-term: Execution and managing through evolving macro challenges • Leading positions in diverse end markets • Finalizing strategy roadmap, with updates to • Solutions that help customers a
Slide 7: Tariff Landscape & Mitigation
Tariff Landscape & Mitigation TAR I F F E X P O S U R E 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 • Actioning supply chain and pricing • ~92M current direct tariff exposure mitigations 19% • Proactively assessing and mitigat
Slide 8: Recession Playbook
Recession Playbook I M PA C T & A C T I O N S T O M I T I G AT E S L O W D O W N LoB Resilience Key Takeaways: All • ENS has unique pockets of exposure and opportunities 1. Slowdown not fully evident yet but being proactive against early indicators • Comms more elastic w/ interest rates than GDP; cu
Slide 9: Q4'25 Business Segment Performance
Q4’25 Business Segment Performance ENERGY SYSTEMS MOTIVE POWER SPECIALTY • Significant Q4 margin expansion • Record Q4 AOE margin • Significant Q4 margin expansion • AI-driven data demand fueling • Driving price/mix advantage • Robust A&D markets strengthened early project work and network with main
Slide 10: Operational & Strategic Execution
Operational & Strategic Execution S E T T I N G T H E F O U N D AT I O N F O R W H AT ’ S N E X T Increasing Higher Value Solutions • SynovaTM Sync charger - delivers high efficiency, IoT compatibility for remote monitoring, and over-the-air firmware updates. • BESS for warehouse and distribution ce
Slide 11: Q4'25 & FY'25 Financial Results, Q1'26 Outlook
Q4’25 & FY’25 Financial Results ANDI FUNK Q1’26 Outlook EVP AND CFO May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 12: Q4'25 and FY'25 Results
Q4’25 and FY’25 Results ($M, except EPS) N E T S AL E S AD J O P E R AT I N G E AR N I N G S 1 & M AR G I N $3,582 $3,618 $528 $450 $911 $975 $152 Y/Y Change Y/Y Change 14.6% $109 12.6% +4% volume Flat volume 15.6% +1% price Flat price 12.0% +4% acquisition +2% acquisition (2%) FX (1%) FX Q4'24 Q4'2
Slide 13: Energy Systems Segment Highlights
Energy Systems Segment Highlights Q4’25 ($M) Y/Y change Net Sales $399 +8% Adj Op Earnings1 $34.7 +99% Adj OE Margin1 8.7% +400 bps Continued recovery in end markets, particularly in U.S. Communications, paced by macro uncertainty • Net Sales +8% Y/Y ‒ +8% volume, +2% price / mix, (2%) FX ‒ Data Cen
Slide 14: Motive Power Segment Highlights
Motive Power Segment Highlights Q4’25 ($M) Y/Y change Net Sales $392 (0.6%) Adj Op Earnings1 $66.5 +14% Adj OE Margin1 17.0% +230 bps Customers recalibrating with global macro uncertainty • Net Sales flat Y/Y ‒ +1% price/mix, flat volume, (2%) FX ‒ Maintenance-free products increased to record 29% o
Slide 15: Specialty Segment Highlights
Specialty Segment Highlights Q4’25 ($M) Y/Y change Net Sales $178 +21% Adj Op Earnings1 $15.1 +79% Adj OE Margin1 8.5% +270 bps A&D demand remains robust; Transportation recovery delayed by tariff and macro uncertainty • Net Sales +21% Y/Y and +15% QoQ ‒ +22% acquisition, (2%) price/mix, +1% volume,
Slide 16: Balance Sheet, Cash Flow and Leverage
Balance Sheet, Cash Flow and Leverage S E L E C T E D B AL AN C E S H E E T M E T R I C S 1 S E L E C T E D C AS H F L O W M E T R I C S 2 ($M) Q4’24 Q4’25 ($M) Q4’24 Q4’25 FY’24 FY’25 Cash and Cash Equivalents $333 $463 Cash Flow from Operations $137 $135 $457 $260 Net Debt3 $511 $781 CapEx ($27) (
Slide 17: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Priorities Q4’25 Future Priorities • Continue TPPL capacity investments & end-to-end solutions Invest in Organic Growth $30M • Optimize EOS to drive additional operational efficiencies (CapEx) • Accelerate domestic-sourced lithium strategy • Focused on opportu
Slide 18: Looking Ahead: Q1'26 Guidance
Looking Ahead: Q1’26 Guidance PA U S I N G 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 AS S U M P T I O N S Q1’26 • ES: strong Data Center market and continued cautious Q 1 ’ 2 6 G U I D AN C E 1 Communications market recovery • MP: seasonality exacerbated by tariff disruptions, continued Ne
Slide 19: Progress Toward FY'27 Targets
Progress Toward FY’27 Targets E P S A N D O P E R AT I O N A L G O A L S R E M A I N A C H I E VA B L E FY’25 Actual FY’23 FY’27 Actual Targets $3.6B P E R F O R M AN C E V S ~(1%) CAGR2 8% – 10% Net Sales $3.7B I N V E S T O R D AY TAR G E T S CAGR3 + Maintenance-free conversion Adj. Operating 8.7%
Slide 20: Q&A
Q&A May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 21: Appendix
Appendix May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 22: Non-GAAP Reconciliations
Non-GAAP Reconciliations May 2025 © 2025 EnerSys. All Rights Reserved.
Slide 23: 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 May 2025 © 2025 EnerSys. All Rights Reserved. 23
Slide 24: Non-GAAP Reconciliation: Full Year Adjusted Operating Earnings
Non-GAAP Reconciliation F U L L Y E A R A D J U S T E D O P E R AT I N G E A R N I N G S May 2025 © 2025 EnerSys. All Rights Reserved. 24
Slide 25: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation ADJUSTED EBITDA May 2025 © 2025 EnerSys. All Rights Reserved. 25
Slide 26: 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 May 2025 © 2025 EnerSys. All Rights Reserved. 26
Slide 27: Non-GAAP Reconciliation: Quarterly 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 28: Non-GAAP Reconciliation: Full Year Adjusted Diluted EPS
Non-GAAP Reconciliation FULL YEAR ADJUSTED DILUTED EPS May 2025 © 2025 EnerSys. All Rights Reserved. 28
Slide 29: Non-GAAP Reconciliation: Full Year Adjusted Diluted EPS Continued
Non-GAAP Reconciliation FULL YEAR ADJUSTED DILUTED EPS CONTINUED 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: May 2025 © 2025 EnerSys. All
Slide 30: 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 $85.8 million adjustment to EBITDA in the last twelve months ending March 31, 2024 primarily related to $30.6 million of non-cash stock compensation, $40.7 million of restructuring and other exit charges, impairment of indefinite-l
Slide 31: 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 $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 indefin
Slide 32: Non-GAAP Reconciliation: Free Cash Flow
Non-GAAP Reconciliation FREE CASH FLOW May 2025 © 2025 EnerSys. All Rights Reserved. 32
Slide 33: Non-GAAP Reconciliation: Adjusted Gross Profit and Gross Margin
Non-GAAP Reconciliation ADJUSTED GROSS PROFIT AND GROSS MARGIN May 2025 © 2025 EnerSys. All Rights Reserved. 33
Slide 34: 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 35: Thank you.
Thank you. For more information visit us at www.enersys.com May 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. 35