Pentair : Investor Overview

PENTAIR INVESTOR OVERVIEW

APRIL 23, 2024

Forward-Looking Statements

This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "should," "would," "could," "positioned," "strategy," or "future" or words, phrases, or terms of similar substance or the negative thereof are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities; supply, demand, logistics, competition and pricing pressures related to and in the markets we serve; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and environmental, social and governance ("ESG") goals and targets.

Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q. All forward-looking statements, including all financial forecasts, speak only as of the date of this presentation. Pentair assumes no obligation, and disclaims any obligation, to update the information contained in this presentation.

2
@2024 Pentair. All Rights Reserved.

Key Definitions

Except as otherwise noted, our results represent continuing operations for the period indicated, presented on an adjusted basis.

2026T represents Pentair's targeted performance by 2026.

"Core sales" refers to GAAP net sales from continuing operations excluding: (1) the impact of currency translation and (2) the impact of net sales from acquired businesses recorded prior to the first anniversary of the acquisition, excluding the excess over prior year net sales of the acquired business less the amount of net sales attributable to divested product lines not considered discontinued operations.

Segment income represents equity income of unconsolidated subsidiaries and operating income from continuing operations exclusive of non-cash intangible amortization, certain acquisition related expenses, costs of transformation and restructuring activities, impairments, and other unusual non-operating items.

Return on sales ("ROS") equals segment income divided by net sales.

Due to rounding, in this presentation numbers may not add up precisely to the totals provided, percentages may not precisely reflect the absolute figures and percentage movements represented in basis points (bps) may not precisely reflect the absolute percentage figures.

See appendix for GAAP to non-GAAP reconciliations.

3
@2024 Pentair. All Rights Reserved.

Strategic Framework

OUR PURPOSE: To create a better world for people and the planet through smart, sustainable water solutions.

OUR MISSION: We help the world sustainably move, improve and enjoy water, life's most essential resource.

Flow

We help the world sustainably move water, life's most essential resource.

Water Solutions

We help the world sustainably improve water, life's most essential resource.

Pool

We help the world sustainably enjoy water, life's most essential resource.

OUR

VISION:

OUR IMPACT:

To be the world's most valued sustainable water solutions company for our employees, customers and shareholders.

Making Better Essential through our products and solutions, for people and our planet.

OUR WIN RIGHT VALUES: Customer First | Accountability for Performance | Innovation & Adaptability Positive Energy | Respect & Teamwork | Absolute Integrity

4
@2024 Pentair. All Rights Reserved.

Pentair Snapshot (NYSE: PNR)

Helping the World Sustainably Move, Improve and Enjoy Water - Life's Most Essential Resource

Focus on	Dividend Aristocrat
Profitability	48 YEARS
~21%
Annual Dividend
ROS	Increase
(2023)
Balanced,	Strong Cash Flow
Focused Businesses
~$1B of	and Solid Returns
Mid-Teens
1
EBITDA	ROIC
	(2023)

5

@2024 Pentair. All Rights Reserved.

1At 2024 Guidance midpoint.

2023 Sales: ~$4.1B

OEM /

Direct /

Other

25%

End

Markets

Trade / Channel

Partners

75%

ROW 30%

Geography

U.S.

70%

Continuing to Drive Strong Financial Performance

Double-Digit Segment Income and Adj EPS Growth

Sales ($B)

Segment Income ($M)

and ROS

$855

Adjusted EPS

$3.68

$3.75

Financial Highlights

9% Sales CAGR

$3.8

$3.0 $3.0

$4.1 $4.1

~9%

CAGR

	$686	$768
$516	$518			~13%
								CAGR
					20.8%
17.5%	18.2%	18.6%

		$3.40
$2.38	$2.50	~12%
		CAGR

+330 bps ROS expansion

12% Adjusted EPS CAGR $2.2B FCF

2019-2023

Mid-Teens

2023 ROIC

48 Years

2019 2020 2021 2022 2023

	17.2%
2019	2020	2021	2022	2023

2019

2020

2021

2022

2023

Annual Dividend Increase - Dividend Aristocrat

Established Track-Record of Delivering Strong Results

6 @2024 Pentair. All Rights Reserved.

Pentair 2019-2023 Sales and ROS by Segment

MOVE Water ($M)

		$1,421	$1,501	$1,582
$1,344
$1,274
			17.8%
			16.1%
14.8%		15.0%
			~4%
				CAGR
	12.9%
2019	2020	2021	2022	2023

IMPROVE Water ($M)

$1,177

									$987
						$770
$626							21.0%
$619
16.8%
15.8%							~17%
						15.1%
									CAGR
						13.2%
2019	2020	2021	2022	2023

ENJOY Water ($M)

					$1,572	$1,633
											$1,344
$1,123
$985									31.0%
					28.8%				~8%
		28.6%
		28.3%
					CAGR
27.8%

2019 2020 2021 2022 2023

Strong ROS Expansion Across All Three Segments

7 @2024 Pentair. All Rights Reserved.

Our Focused Strategy is Working

Grow the core	Pursue a "few"	Execute transformation	Strengthen balance
to drive consistent	targeted initiatives	playbooks to unlock	sheet to provide flexibility
value creation	to profitably	value and fund growth	and upside acceleration
	accelerate growth

Continuing to Drive Record Results

8
@2024 Pentair. All Rights Reserved.

Pentair 2024 to 2026 Financial Targets

Revenue CAGR		2026 ROS		Adj. EPS CAGR
MSD		24%		Low Double-Digit
		+300 bps vs. 2023
EBITDA CAGR		3-Year Free Cash Flow		2026 ROIC
~10%		~$2B		~High-Teens

% of Total Revenue by Segment (FY'26T)

~35%

~30%

~35%

Balanced Water Portfolio and Transformation Driving Strong Growth and Profitability

9	@2024 Pentair. All Rights Reserved.	Note: CAGR period is 2023-2026

Key Takeaways

1	2	3	4	5
Continuing our	Investing in	Generating strong	Delivering on our	Executing a
proven track	growth with a	free cash flow	long-term	disciplined
record of strong	focus on	and further	financial targets	capital allocation
operational and	transformation	strengthening		strategy to create
financial	and margin	our balance sheet		shareholder value
execution	expansion

10
@2024 Pentair. All Rights Reserved.