
November 5, 2026
Strong organic sales growth and adjusted EBITDA margin expansion in our Security and Authentication Technologies segment
Generated robust free cash flow, supporting deleveraging and high-return growth investments
Raised the mid-point of full year adjusted EPS guidance and narrowed the range
Secured multiple long-term commercial wins across both segments, further strengthening future revenue visibility
3
Sales
+12%
+1% Organic1
(1%) FX
$497M
$445M
Q3 2025
Q3 2026
Continued momentum in SAT
Adj. EBITDA1
+4%
(190) bps
$127M
$122M
Q3 2025
Q3 2026
Margin expansion in SAT offset by expected dilution from Antares Vision in DTT
27.5%
25.6%
Flat
$1.28
$1.28
Q3 2025
Q3 2026
Strong operational performance offset by higher below the line items
Adj. EPS1
Adj. FCF1
+15%
$98M
$85M
Q3 2025
Q3 2026
FCF conversion of ~132%; On-track for full year conversion of ~90% to ~110%
1 Please see the appendix for Non-GAAP reconciliations and explanations. 4
SECURITY AND AUTHENTICATION TECHNOLOGIES (SAT) Q3 RESULTSSales
+6%
+7% Organic1
(1%) FX
$244M
$229M
Q3 2025
Q3 2026
Growth in Authentication and sustained demand for international Currency
Adj. EBITDA1
+9%
+60 bps
$71M
$65M
Q3 2025
Q3 2026
Authentication synergies, volume leverage, and favorable mix
drove margin expansion
28.6%
29.2%
+8%
$482M$448M
Q3 2025 Q3 2026
Currency backlog remains near record levels;
booking orders into 2H 2028
1 Please see the appendix for Non-GAAP reconciliations and explanations. 5
DETECTION AND TRACEABILITY TECHNOLOGIES (DTT) Q3 RESULTSSales
+17%
(5%) Organic1
(1%) FX
$254M
$216M
Q3 2025
Q3 2026
CPI Service growth partially offset softness in Vending and Hardware;
Antares Vision impacted by project timing
Adj. EBITDA1
+2%
(430) bps
$70M
$71M
Q3 2025
Q3 2026
Strong productivity helped mitigate lower organic volume; expected Antares Vision margin dilution
32.3%
28.0%
+115%
$234M$109M
Q3 2025 Q3 2026
Antares Vision adds ~$125M; CPI backlog remained stable
1 Please see the appendix for Non-GAAP reconciliations and explanations. 6
STRONG CASH GENERATION ENHANCES FINANCIAL FLEXIBILITY Net Leverage1Antares Vision Acquisition
Adjusted free cash flow conversion1 of ~132%
On track to achieve ~90-110% full year guidance
~2.3X
Strong FCF generation while accelerating investments in high-ROI capital projects
Net leverage estimated at ~2.3X by year end
No fixed-rate debt maturities until 2036
2.3X
2.5X
2.7X
2.9X
Dec. 2025 Mar. 2026 Jun. 2026 Sep. 2026 Dec. 2026F
Cash generation driving continued reduction in net leverage
1 Please see the appendix for Non-GAAP reconciliations and explanations. 7
DOLLARS IN MILLIONS
Crane NXT Sales Growth1 SAT segment sales growth DTT segment sales growth
Adjusted Segment EBITDA Margin2 Adjusted EBITDA Margin2
Adjusted EPS2
PREVIOUS GUIDANCE15% to 17%
~HSD to ~LDD Low 20's%
~27%
~24%
$4.22 to $4.42
UPDATED GUIDANCEGuidance update:
Raising the mid-point of full year adjusted EPS guidance
Continued strong demand across SAT
Market softness and project timing in DTT
Margin expectations on track
Improvement in non-operating expense from lower borrowing costs
~14%
~11%
High-Teens
~27%
~24%
$4.32 to $4.42
Other Information: Corporate Expense
Non-Operating Expense, Net Adj. Free Cash Flow Conversion2
~$58
~$80
~90% to ~110%
~$58
~$75-$80
~90% to ~110%
1 Represents growth over FY 2025.
2 Please see the appendix for Non-GAAP reconciliations and explanations. 8
Differentiated Technology
Proprietary technologies and large installed base create high switching costs and qualification barriers, reinforced by 150+ years serving governments and regulated industries
Attractive Financial Profile
Mid-20% adjusted EBITDA margin2 and ~100% free cash flow conversion, enabled by a culture of continuous improvement utilizing the Crane Business System
Disciplined Capital Allocation
Balanced capital allocation across high-ROI organic investments, programmatic M&A with ample capacity, opportunity for strategic share repurchases going forward, and consistent return of capital through dividends
Attractive and Growing End Markets
Approximately $13B1 addressable market supported by durable growth tailwinds from rising counterfeiting, tightening product-safety regulations and digitizing supply chains
1 Market size estimates from Kearney and internal company estimates.
2 Please see the appendix for Non-GAAP reconciliations and explanations. 9
APPENDIX 2026 SALES GROWTH GUIDANCEOrganic1
FX
Acquisitions
Total2
SAT
~5%
~1%
4% to 5%
~11%
DTT
(~5%)
~Flat
~22%
High-Teens
Total Crane NXT
~Flat
~1%
~14%
~14%
1 Please reference the Non-GAAP reconciliations and explanations in the appendix.
2 Figures presented represent approximations and do not sum due to rounding.
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Crane NXT reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Adjusted net income, Adjusted operating profit, free cash flow, and Adjusted free cash flow, Adjusted free cash flow conversion, net leverage ratio, and organic sales that are not prepared in accordance with GAAP. These non-GAAP measures are in addition, and not a substitute for or superior, to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP. The Company's management believes that these non-GAAP measures of financial results (including on a forward-looking or projected basis) provide useful supplemental information to investors about Crane NXT. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore the Company's non-GAAP measures may not be directly comparable to similarly titled measures of other companies.
"Special items" are items that are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Special items consist of:
Transaction related expenses including acquisition and divestiture related expenses such as incremental professional fees associated with transaction closing and integration of acquisitions.
Acquired intangible asset amortization.
Acquisition related adjustments primarily reflect purchase accounting adjustments arising from acquisitions, including fair value step-ups (such as the amortization of acquisition-related inventory). These adjustments include the fair value remeasurement of the Company's equity-method investment in Antares Vision as of the acquisition date, as well as stock-based compensation issued to Antares Vision senior management in connection with the acquisition, and debt extinguishment costs related to the early repayment of assumed debt.
Restructuring and related costs are predominantly related to severance charges associated with the integration of the DLR and OpSec businesses, and the alignment of DTT's cost structure with existing economic conditions. These costs include formal restructuring programs as well as other discrete actions. Certain costs included in this adjustment are not reported as restructuring charges in the GAAP results due to their immateriality.
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Reconciliations of certain forward-looking and projected non-GAAP measures, including Adjusted segment EBITDA margin and Adjusted EPS, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on Crane NXT's future GAAP results. Crane NXT calculates Adjusted segment EBITDA margin and Adjusted EPS as described below.
"Adjusted Segment EBITDA" excludes net interest expense, tax expense and depreciation and amortization expense from net income, as well as special items. "Adjusted segment EBITDA margin" is calculated as Adjusted segment EBITDA divided by sales.
"Adjusted EPS" is calculated as Adjusted net income divided by diluted shares. Adjusted net income is calculated as net income excluding special items, the tax effect of these adjustments and other discrete tax items.
The Company's management believes that each of the following non-GAAP measures provides useful information to investors regarding the Company's financial conditions and operations:
"Adjusted net income" and "Adjusted EPS" exclude special items, the tax effect of these adjustments and other discrete tax items which are outside of the Company's underlying business performance, some of which may or may not be non-recurring, and which management believes may complicate the presentation of the Company's underlying earnings and operational performance.
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"Free cash flow," "Adjusted free cash flow" and "Adjusted free cash flow conversion" provide supplemental information to assist management and investors in analyzing the Company's ability to generate liquidity from its operating activities. The measure of free cash flow does not take into consideration certain other non-discretionary cash requirements such as, for example, mandatory principal payments on the Company's long-term debt. Free cash flow is calculated as cash provided by operating activities less capital expenditures. Adjusted free cash flow is calculated as free cash flow adjusted for certain cash items which management believes may complicate the interpretation of the Company's underlying free cash flow performance such as certain transaction related cash flow items. Adjusted free cash flow conversion is calculated as Adjusted free cash flow divided by Adjusted net income. These items are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future cash flows that are complementary to GAAP metrics.
"Adjusted EBITDA" and "Adjusted EBITDA margin" exclude net interest expense, tax expense, depreciation and amortization expense and special items. "Adjusted operating profit (loss)" excludes special items described above that impact operating profit. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.
"Net leverage ratio" refers to Net debt divided by trailing twelve months (TTM) Adjusted EBITDA. "Net debt" represents total debt (excluding deferred financing costs), including acquired debt from Antares Vision acquisition, less cash and cash equivalents. The TTM Adjusted EBITDA includes the Antares Vision TTM Adjusted EBITDA for periods prior to the acquisition. Management believes that these non-GAAP financial measures provide useful information about our ability to satisfy our debt obligations.
References to "organic," such as "organic sales," exclude currency effects and, where applicable, the first-year impacts of acquisitions and divestitures. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in identifying underlying growth trends in our business and facilitate comparison of our sales performance, for example, with prior and future periods that are complementary to GAAP metrics.
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NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.15
Totals may not sum due to rounding. *Please see the Non-GAAP Financial Measures definitions in this presentation. 1 The $9.9 million acquisition related adjustment includes $11.1 million of operating expenses partially offset by $1.2 million of non-operating adjustments
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.Totals may not sum due to rounding. *Please see the Non-GAAP Financial Measures definitions in this presentation.
1 The $19.3 million acquisition related adjustment includes $25.4 million of operating expenses partially offset by $6.1 million of non-operating adjustments 16
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.*Please see the Non-GAAP Financial Measures definitions in this presentation.
1 Excludes depreciation and amortization associated with acquisition-related fair value step-ups. 17
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.18
*Please see the Non-GAAP Financial Measures definitions in this presentation.
1 Excludes depreciation and amortization associated with acquisition-related fair value step-ups.
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.1 Represents cash paid for transaction related expenses.
*Please see the Non-GAAP Financial Measures tables in this presentation.
*The TTM Adjusted EBITDA includes Antares Vision for periods prior to the acquisition on March 31, 2026. Please refer to the Non-GAAP Financial Measures tables in prior quarter releases and in this presentation.
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