Chart Industries, Inc. · NYSE:GTLS
Chart Industries — Merger or Acquisition (June 2025)
21 slides from Chart Industries's merger presentation, Jun 4, 2025
Slide 1: Chart Industries and Flowserve Corporation to Combine in Merger of Equals
Chart Industries and Flowserve Corporation to Combine in Merger of Equals INVESTOR PRESENTATION June 4, 2025 Exhibit 99.2
Slide 2: Important Disclosures
Important Disclosures Important Information about the Transaction and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed merger transaction between Chart Industries, Inc. (“Chart”) and Flowserve Corporation (“Flowserve”). In connection therewith,
Slide 3: Today's Speakers
Today’s Speakers Jillian C. Evanko President, Chief Executive Officer Chart Industries, Inc. Amy B. Schwetz Chief Financial Officer Flowserve Corporation Scott Rowe President, Chief Executive Officer Flowserve Corporation Joe Brinkman Chief Financial Officer Chart Industries, Inc.
Slide 4: Enhancing Shareholder Value Through Creation of an Industrial Process Leader
Enhancing Shareholder Value Through Creation of an Industrial Process Leader Diversified and attractive end market exposure to increase resilience and drive differentiated growth Strong financial foundation to support shareholder returns and value creation Scaled industrial leader with complementary
Slide 5: Creating a Differentiated Leader in Industrial Process Technologies
Establishes a scaled industrial process technology business with a comprehensive suite of flow and thermal solutions Complementary products with diversified and attractive end market exposure and a global reach drives resilience and differentiated growth Expanded aftermarket franchise delivers recur
Slide 6: Transaction Structure, Ownership, Financial Profile and Synergies
Structure All-stock merger of equals Total enterprise value of ~$19 billion a combined basis Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned Pro-Forma Ownership (on a fully diluted basis) 53.5% to be owned by Chart shareholders 46.5%
Slide 7: Scaled Industry Leader with Compelling Value Proposition
Enterprise Value ~$19B Revenue $8.8B Adjusted EBITDA $1.9B EBITDA – Capex $1.8B Scaled Industry Leader with Compelling Value Proposition Leader in thermal management Nexus of CleanTM Clean Power, Clean Water, Clean Food, Clean Industrials Combining two complementary businesses Adjusted EBITDA Margin
Slide 8: The Right Time to Capture the Unprecedented Opportunities in Today's World
Chart and Flowserve Combination: The Right Time to Capture the Unprecedented Opportunities in Today’s World Electrification of everything Clean water scarcity Global energy access and reliability Global nuclear renaissance Datacenter expansion for AI revolution Global LNG capacity and utilization bu
Slide 9: Balanced Revenue Mix Provides Strong Base for Consistent Growth and Resiliency
Process Industries 25% / LSD to MSD Growth Balanced Revenue Mix Provides Strong Base for Consistent Growth and Resiliency Highly diverse, attractive end markets with broad geographic distribution Different positioning of products/solutions across the buying cycle contribute to reduced volatility Sig
Slide 10: Aligned Strategies, Different End Market Focuses… Significant Opportunity
Aligned Strategies, Different End Market Focuses… Significant Opportunity Clean Food Clean Water Decarbonize Diversify Digitize Creates significant cross-selling opportunities in new end markets Nuclear Power Process Industries Chemical Space Water General Industrial End Market Focus 3D Strategy Ali
Slide 11: Digitally Integrated Solutions Across the Full Asset Lifecycle
Digitally Integrated Solutions Across the Full Asset Lifecycle Combined digital platforms underpinning full suite of solutions Process Technology Products Systems Aftermarket Services Thermal and process engineering expertise to maximize throughput, improve efficiency, and meet performance demands C
Slide 12: Complementary Products Create a Comprehensive Solutions Portfolio
Complementary Products Create a Comprehensive Solutions Portfolio End-to-End Solutions Compressors Heat Exchangers Cryogenic Storage Mobile Equipment Fans Pumps Actuators Control Valves Seals Engineered Pump Skid Combined Product Portfolio Pumps Valves Actuation Flow Systems Seals Compressors Turboe
Slide 13: Combined Platform Delivers a System Approach to Address Full Customer Lifecycle
Combined Platform Delivers a System Approach to Address Full Customer Lifecycle LNG System Configuration LNG Storage Tanks LNG Carrier BOG Compressor Vapor Return Blower LNG Condenser High-Pressure Pumps Gas Heater LNG Transport Sea Water Pumps Vaporizers Compressors Steam Turbine Feedwater Pump Con
Slide 14: Large Installed Base Driving Aftermarket Revenue Growth
50+ Service Locations Globally 450K Installed Base Units 2,000+ Assets Covered by Service Agreements 150+ Service Centers Globally 5M+ Installed Base Units 2,000+ Assets Instrumented with RedRaven ~$3.7bn in Combined Aftermarket Revenue1 (Aftermarket revenue in billions) Key Aftermarket Benefits Flo
Slide 15: Substantial Synergy Opportunity Providing Value Creation Upside
Materials and procurement savings Roofline consolidation Organizational efficiencies Elimination of duplicate public company costs Substantial Synergy Opportunity Providing Value Creation Upside Expect to achieve >25% of cost synergies within one year following the transaction close Expect to delive
Slide 16: Scaled and Profitable Industrial Platform Positioned for Success
Scaled and Profitable Industrial Platform Positioned for Success Source: Financial metrics for Chart and Flowserve are based on management projections and are consistent with 2025E full year guidance as communicated during respective Q1 2025 earnings releases. Financials for remaining peers are base
Slide 17: Strong Balance Sheet and Cash Flow Generation Creates Capital Allocation Opportunities
Strong Balance Sheet and Cash Flow Generation Creates Capital Allocation Opportunities Capital Deployment Framework Focused on Value Creation Consistent Growth in Combined EBITDA – Capex1 ($ in billions) Figures shown inclusive of the impact of Chart’s acquisition of Howden. EBITDA shown post stock-
Slide 18: Creating a Brighter Future for our Associates and Customers
Creating a Brighter Future for our Associates and Customers Associates Unwavering commitment to company values Ensuring the safety and well-being of our employees Expanding career growth and opportunities Customers Expanding our global reach to enhance customer experience Innovating process designs
Slide 19: Enhancing Shareholder Value Through Creation of an Industrial Process Leader
Enhancing Shareholder Value Through Creation of an Industrial Process Leader Diversified and attractive end market exposure to increase resilience and drive differentiated growth Strong financial foundation to support shareholder returns and value creation Scaled industrial leader with complementary
Slide 20: Appendix
Appendix
Slide 21: Introduction – Chart and Flowserve
Introduction – Chart and Flowserve Note: EBITDA figures shown post stock-based compensation. Provider of critical equipment, process technology and services Leader in flow control solutions $4.2B LTM Revenue $1.0B / 24% LTM Adj. EBITDA / Margin 11,700 Employees 33%1 LTM Aftermarket Heat Exchangers C