Slide 1: Chart Industries and Flowserve Corporation to Combine in Merger of Equals
INVESTOR PRESENTATION June 4, 2025 Chart Industries and Flowserve Corporation to Combine in Merger of Equals Chart Industries + Flowserve 1
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 Joe Brinkman Scott Rowe Amy B. Schwetz President, Chief Executive Officer Chief Financial Officer President, Chief Executive Officer Chief Financial Officer Chart Industries, Inc. Chart Industries, Inc. Flowserve Corporation Flowserve Corporation Chart Industries +
Slide 4: Enhancing Shareholder Value Through Creation of an Industrial Process Leader
Enhancing Shareholder Value Through Creation of an Industrial Process Leader Scaled industrial leader Diversified and attractive Significant cost Strong financial foundation with complementary process end market exposure to synergies with anticipated to support shareholder technologies, products, an
Slide 5: Creating a Differentiated Leader in Industrial Process Technologies
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
Slide 6: Transaction Overview
Transaction Structure • • All-stock merger of equals Total enterprise value of ~$19 billion a combined basis Overview • Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned Pro-Forma • 53.5% to be owned by Chart shareholders Ownership • 46
Slide 7: Scaled Industry Leader with Compelling Value Proposition
Scaled Industry Leader with Compelling Value Proposition Select Financial Metrics1 Enterprise Value Revenue ~$19B $8.8B Leader in Leader in thermal management Adjusted EBITDA EBITDA – Capex flow management $1.9B $1.8B Nexus of CleanTM 3D Strategy Clean Power, Clean Water, Clean Food, Diversify, Deca
Slide 8: Unprecedented Opportunities in Today's World
Chart and Flowserve Combination: The Right Time to Capture the Unprecedented Opportunities in Today’s World Electrification Global energy Clean water scarcity of everything access and reliability Global nuclear Datacenter expansion Global LNG capacity renaissance for AI revolution and utilization bu
Slide 9: Balanced Revenue Mix Provides Strong Base for Consistent Growth and Resiliency
Balanced Revenue Mix Provides Strong Base for Consistent Hydrogen, Nuclear & Helium 7% / LDD Growth Specialty Markets and Water 6% / LDD Growth Growth and Resiliency Power Generation 7% / LSD to MSD Growth End Market Mix / General Industrial LNG Growth 34% / MSD to HSD Growth 9% / LDD Growth Rate1 C
Slide 10: Aligned Strategies, Different End Market Focuses
Aligned Strategies, Different End Market Focuses… Significant Opportunity Aligned Strategies Clean Power Clean Water Clean Food Clean Industrials Diversify Decarbonize Digitize End Market Focus 3D Strategy Space Industrial General Power LNG Nuclear Water Process Chemical Gases Energy Industrial Gene
Slide 11: Digitally Integrated Solutions Across the Full Asset Lifecycle
Digitally Integrated Solutions Across the Full Asset Lifecycle Process Technology Products Systems Aftermarket Services Thermal and process Comprehensive and complementary Integrated systems solutions across Global service infrastructure engineering expertise to equipment portfolio critical industri
Slide 12: End-to-End Solutions
Combined Product Portfolio Pumps Valves Flow Actuation Control Valves Actuators Flow Systems Seals Complementary End-to-End Solutions Engineered Compressors Products Create a Pump Skid Seals Pumps Comprehensive Turboexpanders Solutions Portfolio Fans Thermal Air Cooled Heat Exchangers (ACHX) Compres
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 Nuclear System Configuration Compressors LNG Carrier Containment Pressurizer Structure Vapor Return Blower LNG Storage Safety Steam Turbine Tanks Valves Reactor High-Pressure Pressure Vessel Stea
Slide 14: Large Installed Base Driving Aftermarket Revenue Growth
Large Installed Base Driving Aftermarket Revenue Growth ~$3.7bn in Combined Aftermarket Revenue1 Key Aftermarket Benefits (Aftermarket revenue in billions) 42%2,3 51%2 Holistic technical Hardware-integrated $3.7 $3.4 33%2 $2.9 expertise digital platform $2.4 $2.2 $1.9 $1.4 $1.2 $1.0 Global installed
Slide 15: Substantial Synergy Opportunity Providing Value Creation Upside
Substantial Synergy Opportunity Providing Value Creation Upside Anticipated Synergies Areas of Synergies Breakdown of Cost Synergies ~$300M of expected annual cost synergies within SG&A three years following the transaction close Materials and procurement savings ~40% Expect to achieve >25% of cost
Slide 16: Scaled and Profitable Industrial Platform Positioned for Success
Scaled and Profitable Industrial Platform Positioned for Success 2025E Revenue ($ in billions) $17.8 $9.5 $8.1 $7.6 $7.5 $4.6 $3.8 $3.4 $3.1 $2.3 $2.2 $1.1 $0.7 2025E EBITDA Margin 28% 27% 25% 25% 23% 23%1 22% 22% 22% 21% 19% 18% 18% Source: Financial metrics for Chart and Flowserve are based on man
Slide 17: Strong Balance Sheet and Cash Flow Generation Creates Capital Allocation Opportunities
Strong Balance Sheet and Cash Flow Generation Creates Capital Allocation Opportunities Capital Deployment Framework Focused on Consistent Growth in Combined EBITDA – Capex1 ($ in billions) Value Creation Committed to Investment Grade Balance $1.5 Sheet Focus on debt repayment for investment grade ba
Slide 18: Creating a Brighter Future for our Associates and Customers
Creating a Brighter Future for our Associates and Customers Empowering Excellence: Our Commitment to Values, Safety, and Growth Associates • Unwavering commitment to company values • Ensuring the safety and well-being of our employees • Expanding career growth and opportunities Customers • Expanding
Slide 19: Enhancing Shareholder Value Through Creation of an Industrial Process Leader
Enhancing Shareholder Value Through Creation of an Industrial Process Leader Scaled industrial leader Diversified and attractive Significant cost Strong financial foundation with complementary process end market exposure to synergies with anticipated to support shareholder technologies, products, an
Slide 20: Appendix
Appendix Chart Industries + Flowserve 20
Slide 21: Introduction – Chart and Flowserve
Introduction – Chart and Flowserve Provider of critical equipment, Leader in flow control solutions process technology and services $4.2B $1.0B / 24% 11,700 33%1 $4.6B $0.6B / 14% 16,000+ 51%1 LTM Revenue LTM Adj. EBITDA / Employees LTM Aftermarket LTM Revenue LTM Adj. EBITDA / Employees LTM Afterma