Pentair : Q3 2023 Pentair plc Earnings Conference Call

Q3 2023 EARNINGS RELEASE

October 24, 2023

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 ESG goals.

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, 2022. 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	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Key Definitions

• Except as otherwise noted, our results represent continuing operations for the period indicated, presented on an adjusted basis
• "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
• See appendix for GAAP to non-GAAP reconciliations

3	Q3 2023 Earnings Release. @2023 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.

Industrial & Flow Technologies

Flow Businesses	Industrial Solutions
We help the world	We help the world
sustainably move water,	sustainably move and
life's most essential	improve life's most
resource.	essential resources.

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	To be the world's most valued sustainable water solutions company for our employees,
VISION:	customers and shareholders.
OUR IMPACT:	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	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Pentair at a Glance

We Help the World Sustainably Move, Improve and Enjoy Water,

Life's Most Essential Resource

Employees	Sales (2022)	Focus on Profitability (2022)
~11K	$4.1B	18.6% ROS
Strong Cash Flow	Large Installed Base	Dividend Aristocrat
and Solid Returns	47 YEARS
~75%+ Replacement
High Teens
~75K+ Trade Partners
ROIC		Annual Dividend Increase

DIVERSE	~50% Residential and ~50% Commercial, Industrial & Infrastructure
PORTFOLIO:

5	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Pentair Overview

A Leader in Helping the World Sustainably Move, Improve and Enjoy Water,

Life's Most Essential Resource

	Pentair
Smart, Sustainable, Water Solutions
	$4,122M
	$3,765M
$2,957M	$3,018M

Industrial & Flow Technologies

Move Water

$1,501M

$1,421M

Water Solutions

Improve Water

$987M

$770M

Pool

Enjoy Water

$1,572M $1,633M

18.6%

18.2%

17.5%

17.2%

$1,344M	$1,274M
								16.1%
										15.0%
	14.8%
						12.9%

$626M	$619M
16.8%
15.8%
					15.1%
						13.2%

$1,124M

$985M

28.6% 28.8%

27.8%

28.3%

2019	2020	2021	2022
			Long-Term Sales Growth Rate
				MSD
	We help the world sustainably
			move, improve and enjoy
			water, life's most essential
				resource
Sales		ROS %

2019

2020

2021

2022

Long-Term Sales Growth Rate

LSD

Delivering water where it's needed, when it's needed, more efficiently and transforming waste into value

2019	2020	2021	2022
Long-Term Sales Growth Rate
	MSD
Providing great tasting,
higher-quality water and ice
while helping people use
water more productively

2019

2020

2021

2022

Long-Term Sales Growth Rate

MSD+

Innovative, energy efficient pool solutions to help people more sustainably enjoy water

6	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Making Better Essential

Social Responsibility Highlights

Making Progress in our Operations	Innovating Solutions for a Better Planet
29% REDUCTION	100% of NEW PRODUCTS
in Scope 1 and 2 GHG emissions compared to a
2019 baseline - with a goal of 50% reduction by	evaluated using our new sustainability scorecard*
2030*

WATER WITHDRAWAL DECREASE	71% of Pentair solutions		83% of Pentair solutions
SUPPORT WATER		SUPPORT ENERGY
represents a 9.3% decreasecompared to 2021
EFFICIENCY helping to reduce,		EFFICIENCY by requiring less energy
and a 0.7% decrease to our 2019 baseline*
	reuse, or recover water, directly or		to operate* or by aiding broader systems to
Notes:	indirectly**		operate more efficiently***
*As of December 31, 2022

**This is based on total sales in 2022 of Pentair's brands meeting this definition, as a percentage of total sales

***Products subject to Department of Energy standards, effective July 2021, are not included if the model sold did not comply with the upcoming efficiency requirements. "Less" is defined as less than a prior version, less than a competitor (as known), or less than industry standard/norm

7	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Executive Summary

Diversified water portfolio driving margin expansion

Sales

• Q3'23 Performance:

Segment Income

ROS		Adjusted EPS

• Sales down 4%
• Segment income up 3%
• ROS expanded 140 bps
• Adjusted EPS decreased 5%

$1.06B
	$1.01B
	(4%)
	YoY
Q3'22	Q3'23

$207M	$212M
	3%
	YoY
Q3'22	Q3'23

	21.0%	$0.99
19.6%	140 bps		$0.94
	YoY
			(5%)
			YoY
Q3'22	Q3'23	Q3'22	Q3'23

• Sixth consecutive quarter of both sales over $1 billion and continued margin expansion
• Transformation initiatives drove significant margin expansion
• Strong free cash flow of over $450 million year-to-date, up more than 100% year-over-year
• Updating full year 2023 adjusted EPS guidance to $3.70-$3.75 (previously $3.65-$3.75)

8	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Strategic Focus

Enabling the right investments to drive growth, profitability and returns

Deliver the Core: Make Our

Commitments and Build a

Higher-Performing Culture

Profitable Revenue Growth ANDProductivity

Making Better Essential

Develop Our Talent and Build a Higher-Performing Culture

Build Our Future: Accelerate Performance through Transformation, Innovation and M&A

Transformation to

Fund our Growth

Innovation

M&A to Accelerate

Performance

9	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.

Transformation Update

Early stages of Transformation journey have delivered results

Sourcing				Operational
Excellence				Excellence

Pricing				Organizational
Excellence				Effectiveness

10	Q3 2023 Earnings Release. @2023 Pentair. All Rights Reserved.