Slide 1: Fiscal Quarter Ended September 30, 2021 Earnings Presentation
Fiscal Quarter Ended September 30, 2021 Earnings Presentation November 12, 2021
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation and the accompanying oral commentary contain contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate”, “expe
Slide 3: Message from Larry Kingsley
Message from Larry Kingsley WELL POSITIONED UPSIDE POTENTIAL COMPELLING RISK REWARD Great Position in Good Industries Significant Upside in Growth and Margins Multiple Levers to Create Value • A global leader in ionizing radiation • Solid short and long-term organic growth • Highly predictable and r
Slide 4: Recent Events
Recent Events Mirion completed Larry Kingsley, Reduced pro forma Mirion listed on the Fiscal year 20212 Completed Medical the business former CEO of Pall net leverage to NYSE under the pro forma adjusted acquisitions of combination on Corp. and IDEX ~4.0x after close. ticker symbol MIR revenue of $6
Slide 5: Fiscal Quarter Ended September 30, 2021 Summary
Fiscal Quarter Ended September 30, 2021 Summary Strong execution despite headwinds in supply chain and logistics Financial performance for quarter ended September 30, 2021 in line with key growth and margin targets • Adjusted Revenue of $148.0M and Adjusted EBITDA of $30.9M for the quarter • Organic
Slide 6: Fiscal Quarter Ended September 30, 2021 Performance Summary
Fiscal Quarter Ended September 30, 2021 Performance Summary Reported adjusted revenues up +29%, prior year organic growth comp of 8.5% Adjusted Revenue Adjusted EBITDA Adjusted Gross Margins $ millions $ millions +29% +28% +310 bps Organic (0.1%) Acquisitions +28.9% FX +0.3% 2Y Organic1 +8.4% $148.0
Slide 7: Performance Summary | Medical
Fiscal Quarter Ended September 30, 2021 Performance Summary | Medical Double digit organic growth, acquisitive mix at lower Adjusted EBITDA margins vs. legacy Medical business Adjusted Revenue Adjusted EBITDA MEDICAL SEGMENT $ millions $millions Nuclear Medicine +173% +102% Radiotherapy Organic +10.
Slide 8: Performance Summary | Industrial
Fiscal Quarter Ended September 30, 2021 Performance Summary | Industrial Performance in line with expectations despite comparable growth from prior year (+11.3% organic growth) Adjusted Revenue Adjusted EBITDA INDUSTRIAL SEGMENT $ millions $millions (2%) (5%) Nuclear Power Labs & Research Organic (2
Slide 9: Post-Close Debt Structure and Liquidity
Post-Close Debt Structure and Liquidity Debt Structure Liquidity • With paydown from SPAC and debt refinancing, reduced annual • Business combination with GSAH II on October 20th, 2021 cash interest from ~$40M+ to less than $27M • Post-close liquidity of ~$221M, ~$139M of cash2 – US dollar term loan
Slide 10: Guidance for the 12 months ending June 30, 2022
Guidance for the 12 months ending June 30, 20221 Reiterating guidance for Adjusted revenue and Adjusted EBITDA Prior Guidance What we are seeing and expectations Guidance • Strong underlying demand and order book Adjusted Revenue $723M $723M • Supply chain and logistics risks are driving “brush fire
Slide 11: Fiscal quarter ended September 30, 2021 Wrap Up
Fiscal quarter ended September 30, 2021 Wrap Up ║ Completion of business combination on October 20, 2021; Mirion Class A common stock listed under ticker NYSE: MIR on October 21, 2021 ║ Fiscal quarter ended September 30, 2021 financial performance in line with expectations • 2-year organic adjusted
Slide 12: Appendix
Appendix &
Slide 13: Mirion to Acquire CIRS
Mirion to Acquire CIRS Continued expansion into Medical leveraging Sun Nuclear platform • Mirion has entered into a definitive agreement to acquire Computerized Imaging Reference Systems, Inc. (“CIRS”); the acquisition is subject to customary closing conditions and is expected to close in the fourth
Slide 14: Backlog Trend | Q3 CY19 to Q3 CY21
Backlog Trend | Q3 CY19 to Q3 CY21 $ millions $766 $716 $703 $650 $652 $637 $621 $601 $491 Q3 CY19 Q4 CY19 Q1 CY20 Q2 CY20 Q3 CY20 Q4 CY20 Q1 CY21 Q2 CY21 Q3 CY21 Note: Backlog figures on an As Reported basis Backlog figures include acquisitions of Capintec after Jul-19, Premium Analyse after Sep-19
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Revenue, Income from Operations, Gross Profit & Adjusted EBITDA For the three months ended September 30th, 2021 & 2020 For the three months ended September 30th, 2021 & 2020 $ in millions $ in millions Reconciliation of Net Loss to Income from Operations Segmented R
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Revenue Growth & Pro forma Revenue and EBITDA For the twelve months ended June 30th, 2021 For the three months ended September 30th, 2021, 2020 & 2019 $ in millions $ in millions Δ% Sep-21 Sep-20 Total Organic Acquisitions FX Reconciliation of Pro forma Adjusted Rev
Slide 17: Footnote to Adjusted Free Cash Flow and Share Count
Footnote to Adjusted Free Cash Flow and Share Count Adjusted Free Cash Flow Free cash flow and Adjusted free cash flow are supplemental measures of our performance that are not required by, or presented in accordance with, U.S. GAAP. We believe that free cash flow and Adjusted free cash flow are imp
Slide 18: Mirion Technologies
m MIRION TECHNOLOGIES MIR LISTED NYSE