Ralliant Corporation · NYSE:RAL
Ralliant — Investor Day (June 2025)
106 slides from Ralliant's investor day presentation, Jun 10, 2025
Slide 1: Ralliant Investor Day
Ralliant Investor Day JUNE 10, 2025 2025 INVESTOR DAY
Slide 2: Welcome and Opening Remarks
Welcome and Opening Remarks NATHAN MCCURREN Vice President, Investor Relations 2025 INVESTOR DAY
Slide 3: Forward-Looking Statements
Forward-Looking Statements Certain statements included in this presentation and the oral remarks made in connection herewith are “forward-looking statements” within the meaning of the U.S. federal securities laws. All statements other than historical factual information are forward-looking statement
Slide 4: Basis of Presentation Non-GAAP Financial Measures
Basis of Presentation The financial information accompanying these materials presents certain results of Ralliant Corporation (the “Company”, “Ralliant”, “we”, “us”, or “our”) for fiscal years 2019 through 2024 and is derived from Fortive Corporation’s historical audited financial statements, presen
Slide 5: Today's Agenda
Today’s Agenda 10:05 am Welcome and Opening Remarks 11:35 am Financial Overview Nathan McCurren | VP, Investor Relations Neill Reynolds | CFO Introduction and Strategic Overview Tami Newcombe | CEO 11:55 am Q&A Session Spotlight Segments 12:25 pm Closing Remarks Test and Measurement Segment Tami New
Slide 6: We are Ralliant
We are Ralliant Ralliant OUR PURPOSE Our precision technologies create the confidence Inspired by ‘rally’ and ‘valiant’ to break through — every day. capturing how we come together TOGETHER WE: to push boundaries, drive innovation, and shape Win as what’s next. Solve Learn Unlock Own one team proble
Slide 7: Introduction and Strategic Overview
Introduction and Strategic Overview TAMI NEWCOMBE Chief Executive Officer 2025 INVESTOR DAY
Slide 8: Key Messages
Key Messages 1 2 3 4 5 Separation Energized Premier player Top-tier Adjusted Clear growth Disciplined capital from Fortive leadership and in precision EBITDA growth vectors; well- allocation strategy expected to be high-performance technologies; and durable free positioned to win to maximize culture
Slide 9: Excited to Introduce the Ralliant Leadership Team
Today’s speakers Excited to Introduce the Ralliant Leadership Team Tami Newcombe Neill Reynolds Karen Bick Jeb Boatman Amir Kazmi Chief Executive Officer Chief Financial Officer Chief People Officer Chief Legal Officer Chief Technology and Growth Officer ~30 years experience: ~30 years experience: ~
Slide 10: Strategic Oversight with Seasoned Board Nominees
Strategic Oversight with Seasoned Board Nominees Ganesh Moorthy Kevin Bryant Kate Mitchell Luis Müller Tami Newcombe Independent Board Chair EVP, External Affairs and Partner and President and President and Nominee, Chief Executive Chief Strategy Officer, Co-founder, Chief Executive Officer, Chief E
Slide 11: Strategic Evolution and Scaling Over Past 5 Years
Strategic Evolution and Scaling Over Past 5 Years… 2024 Sharpened Growth Strategy; Prepared to Go Public Increased Focus 2019 on Innovation & ✓ Clarified profitable growth strategy Precision Efficiency ✓ Bolstered executive leadership team Technologies ✓ Simplified the Ralliant Business System Forme
Slide 12: ...Has Delivered Results
…Has Delivered Results 2024 2019 Flat Revenue Growth LSD+ Low 20s Adj. EBITDA Margin Mid 20s ~$12B Serviceable Addressable Market (SAM)1 ~$16B Strong Employee 81% 82% 71% Culture : 2 Leader Effectiveness Inclusion & Belonging Internal Fill Rate Way Paved for Continued Momentum as Standalone Company
Slide 13: We Are Ralliant
We Are Ralliant 2024 FINANCIAL SNAPSHOT1 W. Europe Test and $2.2B 3.5% 15% Measurement Revenue Revenue CAGR 44% 25% 3.2% Reoccurring Revenue2 Organic Revenue CAGR China 2024 SALES 15% 2024 SALES BY REGIONS BY SEGMENT 25.7% 8.7% Adj. EBITDA Margin Adj. EBITDA CAGR N. America RoW Sensors and ~$2.0B ~2
Slide 14: Segment Overview
Segment Overview RALLIANT PORTFOLIO 1 19% 16% 13% 9% 22% 13% 9% Industrial Defense & Utilities Other2 Diversified Communications Semiconductor Manufacturing Space Electronics3 56% of revenue1 Sensors and Safety Systems 44% of revenue1 Test and Measurement Power grid monitoring solutions, defense and
Slide 15: Premier player in precision technologies
Why We’re Built to Outperform: Premier player in precision technologies 2025 INVESTOR DAY 15
Slide 16: Serving Innovation Leaders on the Edge of Technology
Serving Innovation Leaders on the Edge of Technology… OUR CUSTOMERS ARE LEADERS ACROSS: • Hyperscalers / • Utilities 90K 14M+ Customers Installed specialty Datacenter globally sensors and grid • Power Grid Digitization monitoring solutions1 • Semiconductor Design and Fabrication • Defense Primes • E
Slide 17: Powering Mission Critical Systems in the Most Demanding Environments
…Powering Mission Critical Systems in the Most Demanding Environments… Testing hydrogen fuel cell Monitoring health of a Ensuring safety at launch, technology… power transformer 24/7… ascent, and beyond… Where Reliability and Precision …using our high-power …with our high precision …with our high vo
Slide 18: Supported by 100+ Years of Innovation
…Supported by 100+ Years of Innovation… 15 Global R&D Differentiated Capabilities Centers • Proprietary engineering and manufacturing • Culture that attracts top engineers, scientists, 2,200+ and technicians Active Patents • Custom-designed integrated circuits enabled by robust supply chain • Valuab
Slide 19: And a Strategically Positioned Global Network
…And a Strategically Positioned Global Network EMEA 6 Manufacturing Locations 1,500 EMEA Team 4,100 1,300 Americas U.S.-East Asia Team Team U.S.-West 9 Asia 3 Manufacturing Locations 2 Manufacturing Manufacturing Locations Locations New Headquarters – Raleigh, NC South America Countries with Direct
Slide 20: Proven execution
Why We’re Built to Outperform: Proven execution 2025 INVESTOR DAY 20
Slide 21: Our Culture Powers How We Show Up, Work, and Win Together
Our Culture Powers How We Show Up, Work, and Win Together • Engrained in a legacy of tackling tough challenges • Problem-solving DNA will always be part of our story • Relentless focus on continuous improvement Ralliant • Evolving into a new chapter Leadership Shapes while honoring from where Leader
Slide 22: We Are Impact Makers
We Are Impact Makers Empowered with the OUR PURPOSE tools and opportunities Our precision technologies create the confidence to break through every day to make an impact every day O U R P EO P LE Team players with the curiosity, ownership, and grit to achieve excellence together 2025 INVESTOR DAY 22
Slide 23: Ralliant Business System (RBS)
Ralliant Business System (RBS) STRATEGY EXECUTION What it is It’s how we turn our strategy into execution through Business Culture & common language, cadence, Cadence People proven tools, and a continuous improvement mindset How it helps us win Every employee has the tools and opportunities to Lean
Slide 24: Unlocking Growth and Driving Operational Breakthroughs
Unlocking Growth and Driving Operational Breakthroughs Growth & Innovation Operational Improvement New Products Productivity Gains Capital Efficiency Enterprise Scale 2x new product ~15% increase in Net working capital 500+ people driving introductions (NPI) this revenue per <10% of revenue growth a
Slide 25: Through-Cycle Execution
Through-Cycle Execution $433M Resilient free cash flow $420M with consistent 95%+ conversion through Free Cash $361M customer investment Flow 119% cycle despite growth 104% deceleration FCF 97% Conversion YOY Revenue 10.2% Growth 3.2% 0.0% 2022 2023 2024 RBS Powered Durable Free Cash Flow through th
Slide 26: Our Downcycle Playbook
Our Downcycle Playbook • Disciplined operating accountability SHORT-TERM • Operating expense, headcount, and working LEVERS HOW WE DO IT: capital informed by monthly orders trends Illustrative down-year based on last 5 years • Channel motivation programs • Supply chain savings targets New Channel Re
Slide 27: Well-positioned for profitable growth
Why We’re Built to Outperform: Well-positioned for profitable growth 2025 INVESTOR DAY 27
Slide 28: Introducing Our Profitable Growth Strategy
Introducing Our Profitable Growth Strategy 1 2 3 RBS Stronghold Winning Growth Everywhere Positions Vectors Continue the operating Provide ongoing Expand portfolio aligned discipline across our roadmap of precision to secular growth drivers portfolio to drive scale, technologies solutions efficiency
Slide 29: Profitable Growth Strategy: RBS Everywhere
Profitable Growth Strategy 1 RBS • SG&A: Augmenting RBS toolkit with AI and digital / automation Everywhere technologies to enhance productivity • R&D: Continuing customer-centric innovation and platform approach to drive velocity and engineering efficiency • Operations: Optimizing manufacturing cap
Slide 30: Profitable Growth Strategy: Stronghold Positions
Profitable Growth Strategy 2 Stronghold • Refresh the Installed Base: Upgrade legacy systems to Positions maintain customer relevance and unlock upsell opportunities • Leverage Global Channels: Utilize our established global network to scale efficiently and penetrate new markets • Expand Lifecycle S
Slide 31: Profitable Growth Strategy: Winning Growth Vectors
Profitable Growth Strategy 3 • Innovation and R&D: Invest in new products that address Winning Growth evolving market needs Vectors • Value-Add Solutions: Deliver integrated solutions that enhance customer outcomes and strengthen competitive positioning • Ecosystem Partnerships: Collaborate with str
Slide 32: Seize Growth: Advancing Growth Vectors
Seize Growth: Advancing Growth Vectors SERVICEABLE ADDRESSABLE MARKET(SAM)1 ~$16B EXPECTED SAM GROWTH2 ~3% Expected SAM Growth Rate2 ~0-2% ~5-7% ~5-7% ~3-5% ~2-4% ~2-4% Industrial Defense Diversified Communications Semiconductor Manufacturing Utilities & Space Electronics Grid Defense Power Proven R
Slide 33: Implementing Our Growth Vector Strategy: EA Elektro-Automatik Acquisition
Implementing Our Growth Vector Strategy: EA Elektro-Automatik Acquisition Acquired January 2024 STRONG STRATEGIC FIT PATH FORWARD • Premier precision technology player • Integration progress: expanded sales • Scaled go-to-market in test and measurement reach, accelerated product roadmap, added lifec
Slide 34: Disciplined Capital Allocation Approach
Disciplined Capital Allocation Approach Incremental Reinvestment 01 Organically invest in high growth markets aligned to long-term secular growth drivers Capital Returns 02 Expect to return cash to shareholders through dividend and authorized buyback Focused Acquisitions 03 Selective, strategic tuck
Slide 35: Disciplined Approach to M&A
Disciplined Approach to M&A Strategic Aligned to Differentiated Cultural Growth Vectors Products and Services Fit Filters Revenue Growth Path to Margin Financial Acceleration Accretion Criteria Double-Digit Year 3 Return on Asset Light Model Invested Capital Selective, Strategic Tuck-In Acquisitions
Slide 36: Well-Positioned for Value Creation
Well-Positioned for Value Creation GROWTH P R O F I TA B I L I T Y FREE CASH FLOW RETURNS Revenue Growth Adj. EBITDA Growth Faster Strong and Durable Disciplined Capital Extension than Revenue Free Cash Flow Allocation CONSISTENT EARNINGS GROWTH AND SHAREHOLDER RETURNS 2025 INVESTOR DAY 36
Slide 37: Test and Measurement Segment
Test and Measurement Segment Growth Vector Spotlight: Power Electronics CHRIS BOHN President, Tektronix 2025 INVESTOR DAY
Slide 38: Key Messages
Key Messages 1 2 3 Accelerate margin Empower electronics Leverage strong recovery through new innovation and capture competitive advantages products, price, and growth driven by the through application strong expense electrification of expertise, platform- management everything driven innovation, an
Slide 39: Test and Measurement Segment at a Glance
Test and Measurement Segment at a Glance We are the measurements 2024 SEGMENT SALES SNAPSHOT insights company END MARKET We empower engineers to W. Europe Communications BREAKOUTS create what’s next in advanced N. America 19% Diversified 29% Diversified Electronics electronics with greater ease, 37%
Slide 40: Business Evolution Over the Last 5 Years
Business Evolution Over the Last 5 Years 2019 – 2024 Improved Profitability Powered Innovation-Driven Growth Refined Strategic Focus • Portfolio optimization • Platform innovation approach • Power focus led to SAM expansion • R&D productivity • Share gain in Power through EA acquisition • Cost & wor
Slide 41: Compelling Market Opportunity within Power Electronics
Compelling Market Opportunity within Power Electronics GROWTH DRIVERS Industry New Energy & Data 4.0 Renewables Center RISE OF $5B+ SAM1 POWER ELECTRONICS Robotics Power Edge Semiconductor Computing Advantaged Application Coverage E-Mobility IoT Consumer Millions of instruments, Application expertis
Slide 42: Where We Play
Where We Play Product / Application Coverage Radio Frequency Signal WIRELESS 5G / 6G Threat Simulation IoT Analysis & Generation None COMMUNICATIONS WIRED High Speed I/O & Compliance Networking / Ethernet Optical / Silicon Photonics Device Power Management Automated Test Equipment Full Wafer Paramet
Slide 43: Positions of Advantage in Power
Positions of Advantage in Power Next-Gen Power Semi Research and Characterization Device Power Management and Reliability SMUs1 Parametric Test Systems Oscilloscopes Probes Enabling up to 40% energy savings in Data Centers Enabling Edge Computing and IoT expansion in smaller device footprints Invert
Slide 44: Shifting to Platform Approach for Product Innovation
Shifting to Platform Approach for Product Innovation Shifting from single product development… From: 1 Oscilloscope Product 1 Product 2 Product 3 Product 4 every 2-3 yrs …to modular, platform-driven innovation approach To: 1 Oscilloscope per year PLATFORM PLATFORM PLATFORM PLATFORM PLATFORM Probes S
Slide 45: Accelerating Innovation Outcomes across Core Platforms
Accelerating Innovation Outcomes across Core Platforms New Approach Driving JOURNEY PROGRESS Breakthrough PROVEN RESULTS EARLY INNINGS EXPANDING TO Results WITH OSCILLOSCOPES IN PROBES INSTRUMENTATION SIGNIFICANT IMPROVEMENT IN SPEED TO MARKET 5x Increase in innovation funnel 2x Expected cadence NPI
Slide 46: 2025 New Products Expanding Served Markets
2025 New Products Expanding Served Markets R&D Labs Validation and Production Labs Performance Isolated Advanced Modular Test Battery Battery Oscilloscope Current Probe Measurement Platform Impedance Tester Analytics Meter R E F R E S H I N G I N STA L L E D BA S E E X PA N D I N G S E R V E D M A R
Slide 47: Strategic Priorities
Strategic Priorities Grow Value-Add Services • Attach more service offerings to new products • Improve mix of OEM services vs. non-OEM Drive New Product Growth • Drive volume with new products • Capture price with differentiated solutions 2 2 Enhance Manufacturing Agility • Leverage 3rd party manufa
Slide 48: Near-Term Actions to Accelerate Margin Recovery
Near-Term Actions to Accelerate Margin Recovery Protecting …while proactively long-term growth… managing costs ✓ Continue NPI investments ✓ Drive workforce optimization ✓ Optimize commercial ✓ Conduct productivity Kaizens levers to maximize ✓ Minimize variable spend revenue potential ✓ Rationalize c
Slide 49: Key Takeaways
Key Takeaways 1 2 3 Accelerate Empower Leverage strong margin electronics application recovery with innovation expertise, proven down- driven by platforms, and cycle playbook electrification RBS 2025 INVESTOR DAY 49
Slide 50: Sensors and Safety Systems Segment
Sensors and Safety Systems Segment Growth Vector Spotlight: Defense Technologies COREY CHRISTMANN President, PacSci EMC 2025 INVESTOR DAY
Slide 51: Sensors and Safety Systems Segment at a Glance
Sensors and Safety Systems Segment at a Glance 2024 SEGMENT SALES SNAPSHOT High-precision sensors and W. Europe safety systems for demanding 11% environments where uptime, Industrial Defense & China Manufacturing Space precision, and reliability are 9% 33% 28% non-negotiable BY RoW BY 75+ Years of l
Slide 52: Growth Vectors: Defense Technologies and Grid Modernization
Growth Vectors: Defense Technologies and Grid Modernization End Defense & Space Utilities Markets Growth Defense Technologies Grid Modernization Vectors 2025 INVESTOR DAY 52
Slide 53: Key Messages
Key Messages 1 2 3 Delivering mission- Operating as embedded Driving rapid, proprietary critical safety systems partner in long-term innovation to support and solutions for programs defense modernization Defense & Space 2025 INVESTOR DAY 53
Slide 54: Defense & Space Deep Dive
Defense & Space Deep Dive Precision energetics and high voltage safety systems 2024 SNAPSHOT KEY APPLICATIONS SALES BY BOOKINGS BY Ground Safety Launch Safety PROGRAM TENURE TYPE 75+ Years of legacy and installed base New Funded Flight Safety Development 15% 50+ Long-term production programs 20% 30+
Slide 55: Where We Play: Critical Safety Solutions for All Phases of Flight
Where We Play: Critical Safety Solutions for All Phases of Flight Provide safe and reliable ignition sequencing Protect pilots and Protect personnel passengers from during ground operations in-flight emergencies Provide safe and reliable sequencing, stage separation and landing during launch Safegua
Slide 56: Our Products Ensure Success when Commanded
Our Products Ensure Success when Commanded Altitude Control Motor Ignitors Thermally Initiated Venting System Electronic Ignition Safety Device Exploding Foil Initiator Protecting Personnel During Ground Operations… GROUND SAFETY LAUNCH SAFETY FLIGHT SAFETY 2025 INVESTOR DAY 56
Slide 57: Our Products Ensure Success in Launch Safety Solutions
Our Products Ensure Success in Launch Safety Solutions Flight Termination • Safe and Arms Lift-off / Boost Phase • Electro Explosive Devices • Electro Explosive Device • Hold-down Release System Payload Separation • Hold-down System Separation • Satellite Universal Standard Initiators • Ignition Saf
Slide 58: Our Products Protect Pilots and Passengers from In-Flight Emergencies
Our Products Protect Pilots and Passengers from In-Flight Emergencies Emergency Egress Systems Fire • Underwater Emergency Escape Suppression System Systems • Window Cutting Assembly • Arm Fire Initiator • Expanding Tube Assembly • Flexible Confined Detonating Ignition Safety • Shielded Mild Detonat
Slide 59: Where We Play: From Deep Sea to Deep Space
Where We Play: From Deep Sea to Deep Space Voyager 1 Mars Rover EKV Sounding Strategic Standard Rocket Deterrent Missiles Cube Through SPACE Small Sats Hypersonics Satellites Trident THAAD Griffin Cruise Missiles MALD Space Shuttle High-Altitude JSOW Balloons Fighter Jets Helicopters AIR Air-to-Grou
Slide 60: Well-Positioned to Capture Market Growth
Well-Positioned to Capture Market Growth 2019 – 2024 Lean Manufacturing Strategic Investments Automation & Digital Innovation Growth • RBS lean tools • Strategic supplier • Equipment automation • Customer-led initiatives to • Manufacturing and supply development • Digital / AI engineering accelerate
Slide 61: Case Study: Customer-Led Innovation
Case Study: Customer-Led Innovation 1 2 3 OPPORTUNITY RBS IN ACTION IMPACT • Geopolitical tensions drove urgent • Deployed RBS tool (Voice of Customer) need for development of to deepen customer insights 50% Hypersonic defense platforms • Built on our core competency in Growth with Prime customer se
Slide 62: Well-Positioned for Long-Term Secular Drivers
Well-Positioned for Long-Term Secular Drivers… SPACE ADVANCEMENTS GEOPOLITICAL DEFENSE AND COMMUNICATIONS ENVIRONMENT MODERNIZATION • ~200% increase in orbital space • Global rearmament spend at $1.8T • $100B U.S. next generation launches since 2017 in 2024; 20% increase from 2021 investments over n
Slide 63: Through Our Sustainable Competitive Advantages
…through Our Sustainable Competitive Advantages + + = FLAWLESS PATENTED, MODULAR EMBEDDED PREFERRED MISSION RECORD PLATFORMS TECHNOLOGY PARTNER STATUS • Zero safety-related • Strong IP position • Integrated Electronics • Leading position on failures • Rapid, low-cost and Energetic Materials majority
Slide 64: Strategic Priorities
Strategic Priorities Accelerate Time to Market • Reduce new product development lead time • Strengthen partnerships, mission clarity • Drive quick responsiveness Strengthen Operational Adaptability • Enhance supply chain • Expand production capacity 2 2 • Automation and digitization Differentiate wi
Slide 65: Key Takeaways
Key Takeaways 1 2 3 Trusted leader Positioned for Clear strategy and partner for growth with with proprietary mission-critical strong secular innovation safety systems drivers poised for continued growth 2025 INVESTOR DAY 65
Slide 66: Sensors and Safety Systems Segment: Grid Modernization
Sensors and Safety Systems Segment Growth Vector Spotlight: Grid Modernization ANDREW MCCAULEY President, Sensor Systems 2025 INVESTOR DAY
Slide 67: Key Messages
Key Messages 1 2 3 Defining reliability as Well-positioned in Driving strong, a trusted leader for utilities, benefiting from above-market growth 80+ years, delivering long-term secular in utilities through clear essential and reliable trends driven by grid strategic priorities grid solutions modern
Slide 68: Utilities Deep Dive
Utilities Deep Dive Leader in health monitoring of critical equipments in a power grid 2024 SNAPSHOT W. Europe 80+ Years of legacy and installed base N. America 13% ~45% 40% Utility China Customer 4M+ Installed devices 10% SALES BY HSD Revenue CAGR 2019-2024 GEOGRAPHY ~55% Specified by Major RoW OEM
Slide 69: Where We Play
Where We Play High-Voltage Overhead Medium-Voltage Overhead Transmission Lines Transmission Lines Power Generation Distribution Plant Gas-Insulated Lines Substation Transmission Substation Distribution Substation Generation Transmission Distribution Leading Capabilities Significant Growth Runway ~ 5
Slide 70: Leadership Position in Transformer Monitoring
Leadership Position in Transformer Monitoring Shifting from product to solution selling Critical safety sensors Advanced health monitoring devices CRITICAL ASSET C U STO M E R B E N E F I T S • Typical transmission • Reduces implementation time transformer costs $5-15M; from 6 months to 6 weeks typi
Slide 71: Our Monitoring Product Line: Powering Every Stage of the Grid
Our Monitoring Product Line: Powering Every Stage of the Grid Driving Greater Grid Uptime and GENERATION TRANSFORMER & SUB-STATION DISTRIBUTION Lower Cost for MONITORING MONITORING MONITORING Customers • Enabling shift from time-based to condition-based maintenance • Extending the life of critical a
Slide 72: From Strong Foundations to Strategic Expansion
From Strong Foundations to Strategic Expansion 2019 – 2024 Innovation & Market Strategic Operational Solution Leadership Go-to-Market Shift Execution Selling Accelerated new product Pivoted from regional to Embedded RBS principles to Transition from product development and innovation Utility and OEM
Slide 73: Case Study: Unlocking Growth
Case Study: Unlocking Growth 1 2 3 OPPORTUNITY RBS IN ACTION IMPACT Last 3 Years • In 2022, global market experienced • Deployed the RBS toolkit a step-change in demand • Executed 60+ Kaizens; initial ~50% Increase in production throughput • On-time delivery rates declined, event focused on 3 produc
Slide 74: Well-Positioned to Capture Growth from Key Secular Trends
Well-Positioned to Capture Growth from Key Secular Trends… AGING GRID AI NEW ENERGY INFRASTRUCTURE DATA CENTER SOURCES • Over 70% of U.S. power • AI data centers are projected to triple • Renewables projected to account transformers are >25 years old consumption of electricity use for >50% of global
Slide 75: Through Our Sustainable Competitive Advantages
…through Our Sustainable Competitive Advantages WORLD-RENOWNED EXPERTS COMPREHENSIVE PORTFOLIO OF ICONIC AND TRUSTED BRAND POSITIONED AS EXTENSION OF HEALTH MONITORING PRODUCTS KNOWN FOR ACCURACY AND CUSTOMERS’ ENGINEERING TEAMS PRECISION • Decades of domain expertise • Positioning as one-stop-shop
Slide 76: Strategic Priorities
Strategic Priorities Extend Operational Capability • Expand manufacturing capacity • Optimize strategic sourcing Accelerate Innovation • Drive efficiency through platform approach to engineering • Enable higher quality products faster 2 2 Maximize Market Opportunity • Enhance solution sales for full
Slide 77: Key Takeaways
Key Takeaways 1 2 3 Trusted leader in Positioned for Clear strategic high precision growth amid priorities for reliable grid secular tailwinds continued market solutions leadership and profitable growth 2025 INVESTOR DAY 77
Slide 78: Financial Overview
Financial Overview Neill Reynolds Chief Financial Officer 2025 INVESTOR DAY
Slide 79: Key Messages
Key Messages 1 2 3 Building on a Executing on clear Maintaining strong demonstrated track financial priorities to balance sheet and capital record of high margins deliver organic revenue allocation priority of and consistent free growth through returning capital to cash flow through reinvestment sha
Slide 80: Track Record of Delivering Strong Results
Track Record of Delivering Strong Results REVENUE ($M) ADJ. EBITDA ($M) ADJ. EBITDA MARGIN $2,155 $553 25.7% $507 23.5% 20.1% $365 $1,815 3.5% 8.7% +560 CAGR CAGR BPS 2019 2024 2019 2024 Stand- 2024 2019 2024 Stand- 2024 Reported alone Pro Reported alone Pro 1 Costs Forma 1 Costs Forma Strong EBITDA
Slide 81: Strong Adj. EBITDA Growth
Strong Adj. EBITDA Growth ~18% Top-tier Adj. EBITDA 2019 – 2024 Adj. EBITDA CAGR 1 growth driven by ~15% continuous improvement culture and RBS Everywhere ~9% ~6% ~5% ~5% ~5% ~2% Ralliant Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 ~-1% HSD Adj. EBITDA Growth Over Last Five Years
Slide 82: Update on 2025
Update on 2025 Well-Positioned for Mixed End Market Navigating the Improvement in Growth Demand Current Environment and Profitability Strong demand in Utilities and Proven downcycle playbook to Focused on winning positions in Defense & Space driven by electric offset tariff headwinds and end end mar
Slide 83: Outlook Driven by Clear Financial Priorities
Outlook Driven by Clear Financial Priorities PROFITABILITY FREE CASH FLOW Grow adjusted EBITDA Deploy through-cycle playbook to faster than revenue maintain consistent free cash flow and balance sheet strength GROWTH Extend LSD+ revenue growth with focused RETURNS investments in winning Bolster shar
Slide 84: Building on Track Record of Revenue Growth
Building on Track Record of Revenue Growth Plan to extend track record of Through-Cycle Revenue Growth Expectations organic revenue growth while fueling upside through M&A 3-5% ~1% Annual Growth • Test and Measurement growth driven by power electronics and data center investment ~3% • Sensors and Sa
Slide 85: Expect High-Margin Business through the Cycle
Expect High-Margin Business through the Cycle Continued Operating Rigor Expected Adj. EBITDA Margin Driving Strong Margins Ranges Through the Cycle • Growth-enabled operating leverage Sensors and High-20s Safety Systems • Value engineering to improve product function + and cost structure Test and Mi
Slide 86: Expect Durable Cash Generation across Market Cycles
Expect Durable Cash Generation across Market Cycles Continuation of Strong FCF Drivers Net Working Capital Targeting FCF Adj. EBITDA Margin Capex ~2% Low-to-Mid-20s below 10% of Revenue conversion of Revenue 95%+ GREATER THAN $1B OF CUMULATIVE FCF THROUGH 2028 High-Margin, Capex-Light Business Model
Slide 87: Strong Balance Sheet and Liquidity
Strong Balance Sheet and Liquidity Expected Capital Balance Sheet and Debt Structure Structure at Spin $1.15B 1.9x TERM LOANS UNDRAWN DEBT CAPACITY $750M Gross Debt Net Leverage1 $620M $530M ~$150M $900M $150M Cash and Investments Undrawn Debt Capacity ~$1.0B 18 Months 36 Months Term Loans Revolver
Slide 88: Disciplined Capital Allocation Approach
Disciplined Capital Allocation Approach Incremental Reinvestment 01 Organically invest in high growth markets aligned to long-term secular growth drivers Capital Returns 02 Expect to return cash to shareholders through dividend and authorized buyback Focused Acquisitions 03 Selective, strategic tuck
Slide 89: Well-Positioned to Drive Value Creation
Well-Positioned to Drive Value Creation GROWTH P R O F I TA B I L I T Y FREE CASH FLOW RETURNS Revenue Growth Adj. EBITDA Growth Faster Strong and Durable Disciplined Capital Extension than Revenue Free Cash Flow Allocation 3-5% Through cycle Generate >$1B Return capital to EXPECTED through cycle Ad
Slide 90: Q&A
Q&A 2025 INVESTOR DAY
Slide 91: Closing Remarks
Closing Remarks TAMI NEWCOMBE Chief Executive Officer 2025 INVESTOR DAY
Slide 92: Ralliant: Invest with Us
Ralliant: Invest with Us Strong 01 Evolved Purpose and Culture • Focused Ralliant Business System Foundation • Amplified growth culture • Focused portfolio • Operating rigor 02 Clarified Growth Strategy • RBS Everywhere • Financial discipline • Stronghold positions in winning growth • Seasoned busin
Slide 93: Appendix
Appendix 2025 INVESTOR DAY
Slide 94: Leadership Bios
Leadership Bios 2025 INVESTOR DAY
Slide 95: Tami Newcombe | Chief Executive Officer
TAMI NEWCOMBE | Chief Executive Officer Tami leads Ralliant with strategic vision and hands-on operational expertise, setting the company’s direction as a global leader in precision technologies. Her leadership approach combines deep industry knowledge with customer focus to drive growth in rapidly
Slide 96: Neill Reynolds | Chief Financial Officer
NEILL REYNOLDS | Chief Financial Officer Neill drives financial strategy and operational excellence at Ralliant, drawing on more than 25 years of leadership experience at global technology companies. His comprehensive expertise spans finance, M&A, investor relations, business development, IT, supply
Slide 97: Karen Bick | Chief People Officer
KAREN BICK | Chief People Officer Karen leads Ralliant’s people strategy, leveraging more than 25 years of experience building high- performance cultures in complex global organizations. Her approach combines systematic thinking, strategic insight, and a genuine passion for developing talent to crea
Slide 98: Jeb Boatman | Chief Legal Officer
JEB BOATMAN | Chief Legal Officer Jeb leads Ralliant’s legal strategy, addressing enterprise risks and ensuring global regulatory compliance. He brings extensive expertise in litigation, intellectual property, regulatory matters, and public policy developed through leadership roles at major global c
Slide 99: Amir Kazmi | Chief Technology and Growth Officer
AMIR KAZMI | Chief Technology and Growth Officer Amir leads Ralliant’s enterprise-wide technology strategy, driving digital innovation and customer value delivery initiatives that support the Company’s growth. He brings over two decades of technology leadership experience from Fortune 500 corporatio
Slide 100: Chris Bohn | President, Tektronix
CHRIS BOHN | President, Tektronix Chris drives growth and innovation at Tektronix, bringing over two decades of expertise in product management, marketing, and business operations to deliver cutting-edge test and measurement solutions. As President of Tektronix, Chris focuses on accelerating innovat
Slide 101: Andrew McCauley | President, Sensor Systems
ANDREW MCCAULEY | President, Sensor Systems Andrew leads Ralliant’s Sensing Technology business, bringing unmatched global operational and marketing expertise developed over nearly three decades spanning the company’s evolution from Danaher and Fortive (NYSE: FTV) to Ralliant. At Fortive, Andrew bui
Slide 102: Corey Christmann | President, PacSci EMC
COREY CHRISTMANN | President, PacSci EMC Corey is currently the President for PacSci EMC. He has 30 years of experience in business leadership and continuous improvement, supported by a strong foundation in operations and supply chain. His leadership and strategic vision have been instrumental in th
Slide 103: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”). However, it presents certain non-GAAP measures, which are not recognized financial measures under GAAP, because management believes they assist
Slide 104: Organic Revenue Growth
Organic Revenue Growth Year Ended December 31, 2020 2021 2022 2023 2024 Total Revenue Growth (GAAP) (7.0) % 12.3 % 10.2 % 3.2 % — % Excluding impact of: Acquisitions and divestitures 0.1 % (0.2) % 0.7 % 0.9 % (4.5) % Currency exchange rates (0.2) % (1.6) % 2.9 % 0.4 % 0.4 % Organic Revenue Growth (N
Slide 105: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin (in millions) Year Ended December 31, 2019 2024 Revenue (GAAP) $ 1,815.4 $ 2,154.7 Net Earnings (GAAP) $ 241.0 $ 354.6 Interest (income) expense, net — — Income taxes 52.9 78.0 Depreciation 27.2 29.0 Amortization 20.3 84.0 EBITDA (Non-GAAP) 341.4 545.6 Acqu
Slide 106: Free Cash Flow
Free Cash Flow (in millions) Year Ended December 31, 2022 2023 2024 Net Cash Provided By Operating Activities (GAAP) $ 391.7 $ 461.8 $ 454.5 Less: Capital expenditures (GAAP) (30.8) (29.2) (34.3) Free Cash Flow (Non-GAAP) $ 360.9 $ 432.6 $ 420.2 2025 INVESTOR DAY 106