Item 2.05 Costs Associated with Exit or Disposal Activities.

On June 6, 2023, Sensata Technologies Holding plc (the "Company") made the decision to exit Spear Power System's ("Spear's") marine energy storage business (the "Business"). The Company acquired Spear in August 2021 to advance its electrification portfolio and strategy in new clean energy markets. The decision to exit the Business will enable Sensata to focus more resources on Spear's aerospace & defense energy storage business and other promising areas of Electrification.

Exiting the Business will result in the elimination of approximately 60 positions, primarily in Kansas City, Missouri, and the closure of Spear's operations in Belgium. In connection with the plan to exit the Business, the Company is expected to incur total pre-tax charges in the range of approximately $40 to $50 million in the second quarter, including approximately $14 million of intangible asset impairments, $13 million of tangible assets impairments, and $2 million of restructuring costs. Closing the Business will lead to approximately $10 to $12 million in annualized cost savings.


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