Financial Analysis

"Acquisitions Electrical Products Group Acquisition On May 1, 2025, we completed the acquisition of the enclosures, switchgear and bus systems businesses of Avail Infrastructure Solutions (the ""Electrical Products Group"") for approximately $979.6 million in cash. The Electrical Products Group is a leading provider of infrastructure solutions, designed to help ensure safe and reliable electrical operations primarily in the infrastructure vertical, including power utilities and data centers. We operate the Electrical Products Group predominantly within our Systems Protection reporting segment. We funded the purchase price for the acquisition with available cash on hand. The purchase price has been allocated based on the estimated fair value of assets acquired and liabilities assumed at the date of the Electrical Products Group acquisition. The purchase price allocation was completed in the second quarter of 2026. The following table summarizes the final fair values of the assets acquired and liabilities assumed in the Electrical Products Group acquisition as previously reported as of December 31, 2025 and revised as of June 30, 2026: In millions As Previously Reported As Revised Accounts receivable $ 98.0 $ 97.7 Inventories 22.0 20.0 Other current assets 87.4 87.4 Property, plant and equipment 38.9 38.9 Identifiable intangible assets 433.8 433.8 Goodwill 439.3 441.6 Other assets 26.2 26.3 Current liabilities (146.0) (146.1) Other liabilities (20.0) (20.0) Purchase price $ 979 …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies Warranties and guarantees In connection with the disposition of our businesses or product lines, we may agree to indemnify purchasers for various potential liabilities relating to the sold business, such as pre-closing tax, product liability, warranty, environmental, or other obligations. The subject matter, amounts and duration of any such indemnification obligations vary for each type of liability indemnified and may vary widely from transaction to transaction. Generally, the maximum obligation under such indemnifications is not explicitly stated and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our financial position, results of operations or cash flows. We recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. We provide service and warranty policies on our products. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. Our liability for service and product warranties as of June 30, 2026 and December 31, 2025 was not material. Stand-by letters of credit, bank guarantees and bonds In the ordinar …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Debt Debt and the average interest rates on debt outstanding were as follows: In millions Average interest rate at June 30, 2026 Maturity Year June 30, 2026 December 31, 2025 Revolving credit facility N/A 2030 $ $ Term loan facility 4.903% 2030 200.0 268.2 Senior notes - fixed rate 4.550% 2028 500.0 500.0 Senior notes - fixed rate 2.750% 2031 300.0 300.0 Senior notes - fixed rate 5.650% 2033 500.0 500.0 Unamortized debt issuance costs and discounts N/A N/A (7.6) (8.4) Total debt 1,492.4 1,559.8 Less: Current maturities and short-term borrowings (13.8) (13.8) Long-term debt $ 1,478.6 $ 1,546.0 Senior notes In March 2018, nVent Finance S.a r.l. (nVent Finance), a 100-percent owned subsidiary of nVent, issued $500.0 million aggregate principal amount of 4.550% senior notes due 2028 (the ""2028 Notes""). In November 2021, nVent Finance issued $300.0 million aggregate principal amount of 2.750% senior notes due 2031 (the ""2031 Notes""). In May 2023, nVent Finance issued $500.0 million aggregate principal amount of 5.650% Senior Notes due 2033 (the ""2033 Notes"" and, collectively with the 2028 Notes and the 2031 Notes, the ""Notes""). Interest on the 2028 Notes is payable semi-annually in arrears on April 15 and October 15 of each year, and interest on the 2031 Notes and 2033 Notes is payable semi-annually in arrears on May 15 and November 15 of each year. In February 2026, we entered into a supplemental indenture to the indenture governing the Notes as a result of which nVent E …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Geographic net sales information, based on geographic destination of the sale, was as follows: Three months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Americas $ 917.0 $ 340.0 $ 1,257.0 Europe, the Middle East and Africa (""EMEA"") 111.2 43.5 154.7 Asia-Pacific 43.9 15.7 59.6 Total $ 1,072.1 $ 399.2 $ 1,471.3 Six months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Americas $ 1,672.6 $ 634.6 $ 2,307.2 EMEA 220.6 84.4 305.0 Asia-Pacific 73.7 27.4 101.1 Total $ 1,966.9 $ 746.4 $ 2,713.3 Three months ended June 30, 2025 In millions Systems Protection Electrical Connections Total Americas $ 495.5 $ 282.4 $ 777.9 EMEA 104.2 37.7 141.9 Asia-Pacific 32.3 11.0 43.3 Total $ 632.0 $ 331.1 $ 963.1 Six months ended June 30, 2025 In millions Systems Protection Electrical Connections Total Americas $ 874.4 $ 537.4 $ 1,411.8 EMEA 200.3 73.6 273.9 Asia-Pacific 65.5 21.2 86.7 Total $ 1,140.2 $ 632.2 $ 1,772.4 Vertical net sales information was as follows: Three months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Infrastructure $ 729.3 $ 153.2 $ 882.5 Industrial 269.8 60.4 330.2 Commercial & Residential 73.0 185.6 258.6 Total $ 1,072.1 $ 399.2 $ 1,471.3 Six months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Infrastructure $ 1,289.3 $ 286.6 $ 1,575.9 Industrial 534.0 113.5 647.5 Commercial & Residential 143.6 346.3 489.9 Total $ 1,966.9 $ 746.4 $ …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

"Share-Based Compensation Total share-based compensation expense for the three and six months ended June 30, 2026 and 2025, was as follows: Three months ended Six months ended In millions June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Restricted stock units $ 4.6 $ 5.4 $ 11.6 $ 9.3 Performance share units 0.9 4.0 6.8 6.8 Stock options 1.2 2.2 4.7 4.0 Total $ 6.7 $ 11.6 $ 23.1 $ 20.1 In the first quarter of 2026, we issued our annual share-based compensation grants under the 2018 Omnibus Incentive Plan to eligible employees. The total number of awards issued was approximately 0.4 million, of which 0.2 million were restricted stock units (""RSUs""), 0.1 million were performance share units (""PSUs"") and 0.1 million were stock options. The weighted-average grant date fair value of the RSUs, PSUs and stock options issued was $120.27, $170.18 and $49.76, respectively. Beginning in the first quarter of 2026, we incurred higher share-based expense as a result of substantive vesting at the grant date for certain retirement eligible employees. We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends, and using the following assumptions: 2026 Annual Grant Risk-free interest rate 3.73 % Expected dividend yield 0.77 % Expected share price volatility 39.8 % Expected term (years) 6.1 These estimates require us to make assumptions based on historical results, observ …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill by reportable segment were as follows: In millions December 31, 2025 Acquisitions/ divestitures Foreign currency translation/other June 30, 2026 Systems Protection $ 1,202.4 $ 1.3 $ (4.0) $ 1,199.7 Electrical Connections 1,475.6 1.0 1,476.6 Total goodwill $ 2,678.0 $ 2.3 $ (4.0) $ 2,676.3 Identifiable intangible assets consisted of the following: June 30, 2026 December 31, 2025 In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Definite-life intangibles Customer relationships $ 1,902.1 $ (599.0) $ 1,303.1 $ 1,904.0 $ (551.5) $ 1,352.5 Proprietary technologies and patents 112.1 (38.7) 73.4 111.8 (31.8) 80.0 Other definite-lived intangible assets 139.5 (90.3) 49.2 139.5 (63.1) 76.4 Total definite-life intangibles 2,153.7 (728.0) 1,425.7 2,155.3 (646.4) 1,508.9 Indefinite-life intangibles Trade names 367.6 367.6 367.6 367.6 Total intangibles $ 2,521.3 $ (728.0) $ 1,793.3 $ 2,522.9 $ (646.4) $ 1,876.5 Identifiable intangible asset amortization expense was $41.1 million and $35.9 million for the three months ended June 30, 2026 and 2025, respectively, and $82.2 million and $64.1 million for the six months ended June 30, 2026 and 2025, respectively. Estimated future amortization expense for identifiable intangible assets during the remainder of 2026 and the next five years is as follows: Q3-Q4 In millions 2026 2027 2028 2029 2030 2031 Estimated amortization …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes The effective income tax rate was 22.4% for both the six months ended June 30, 2026 and June 30, 2025. The liability for uncertain tax positions was $9.4 million and $10.3 million at June 30, 2026 and December 31, 2025, respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense , respectively, on the Condensed Consolidated Statements of Income and Comprehensive Income, which is consistent with our past practices.

IncomeTaxDisclosureTextBlock

Restructuring During the six months ended June 30, 2026 and the year ended December 31, 2025, we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Restructuring related costs included in Selling, general and administrative in the Condensed Consolidated Statements of Income and Comprehensive Income included costs for severance and other restructuring costs as follows: Three months ended Six months ended In millions June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Severance and related costs $ 0.6 $ 1.5 $ 2.9 $ 2.2 Other 0.7 1.6 1.4 1.8 Total restructuring costs $ 1.3 $ 3.1 $ 4.3 $ 4.0 Other restructuring costs primarily consist of asset impairment and various contract termination costs. Restructuring costs by reportable segment as well as Enterprise and other were as follows: Three months ended Six months ended In millions June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Systems Protection $ 0.9 $ 0.3 $ 2.3 $ 0.6 Electrical Connections 0.2 0.5 1.2 0.8 Enterprise and other 0.2 2.3 0.8 2.6 Total $ 1.3 $ 3.1 $ 4.3 $ 4.0 Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows: Six months ended In millions June 30, 2026 June 30, 2025 Beginning balance $ 2.8 $ 1.8 Costs incurred 2.9 2.2 Cash payments and other (3.5) (2.2) Ending balance $ 2.2 $ 1.8

RestructuringAndRelatedActivitiesDisclosureTextBlock

"Revenue Disaggregation of revenue We disaggregate our revenue from contracts with customers by geographic location and vertical, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Geographic net sales information, based on geographic destination of the sale, was as follows: Three months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Americas $ 917.0 $ 340.0 $ 1,257.0 Europe, the Middle East and Africa (""EMEA"") 111.2 43.5 154.7 Asia-Pacific 43.9 15.7 59.6 Total $ 1,072.1 $ 399.2 $ 1,471.3 Six months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Americas $ 1,672.6 $ 634.6 $ 2,307.2 EMEA 220.6 84.4 305.0 Asia-Pacific 73.7 27.4 101.1 Total $ 1,966.9 $ 746.4 $ 2,713.3 Three months ended June 30, 2025 In millions Systems Protection Electrical Connections Total Americas $ 495.5 $ 282.4 $ 777.9 EMEA 104.2 37.7 141.9 Asia-Pacific 32.3 11.0 43.3 Total $ 632.0 $ 331.1 $ 963.1 Six months ended June 30, 2025 In millions Systems Protection Electrical Connections Total Americas $ 874.4 $ 537.4 $ 1,411.8 EMEA 200.3 73.6 273.9 Asia-Pacific 65.5 21.2 86.7 Total $ 1,140.2 $ 632.2 $ 1,772.4 Vertical net sales information was as follows: Three months ended June 30, 2026 In millions Systems Protection Electrical Connections Total Infrastructure $ 729.3 $ 153.2 $ 882.5 Industrial 269.8 60.4 330.2 Commercial & Residential 73.0 185.6 258 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Segment Information Our continuing operations are comprised of two reporting segments: Systems Protection and Electrical Connections. ""Enterprise and other"" activity primarily consists of enterprise expenses not allocated to the segments, including certain executive office, board of directors, and centrally-managed enterprise functional or shared service costs related to finance, human resources, legal, supply chain, digital and corporate development. These activities do not meet the criteria for a stand-alone reporting segment under ASC 280. The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2025. The Company's primary measure of segment profitability is reportable segment income. Reportable segment income represents operating income, which includes certain corporate overhead allocations, and is exclusive of intangible amortization, acquisition related costs, costs of restructuring activities, reimbursements of tariffs previously remitted under the International Emergency Economic Powers Act (""IEEPA tariffs""), ""mark-to-market"" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items. nVent's chief operating decision maker (""CODM"") is our chief executive officer. This presentation is consistent with how the CODM evaluates the results of operations and makes strategic decision …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Shareholders' Equity Share repurchases On May 17, 2024, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $500.0 million (the ""2024 Authorization""). The 2024 Authorization began on July 23, 2024 and expires on July 22, 2027. During the six months ended June 30, 2026, we repurchased 0.4 million of our ordinary shares for $50.4 million under the 2024 Authorization. During the six months ended June 30, 2025, we repurchased 4.8 million of our ordinary shares for $253.1 million under the 2024 Authorization. As of June 30, 2026, we had $96.5 million available for share repurchases under the 2024 Authorization. On May 16, 2026, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $500.0 million (the ""2026 Authorization""). The 2026 Authorization began on July 23, 2026 and expires on July 22, 2029. Dividends payable On May 16, 2026, the Board of Directors declared a quarterly cash dividend of $0.21 per ordinary share payable on August 7, 2026, to shareholders of record at the close of business on July 24, 2026. The balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $34.3 million and $34.6 million at June 30, 2026 and December 31, 2025, respectively."

StockholdersEquityNoteDisclosureTextBlock