Ralliant (RAL) Morgan Stanley’s 13th Annual Laguna Conference summary

Leadership and Strategic Focus

• Leadership team was handpicked for diversity and expertise, emphasizing a people-centric, one-team culture.

• Strategic focus post-spin centers on portfolio rationalization, stronghold positions, and operational rigor.

• The company is committed to building a lasting organization with disciplined execution and value creation.

• Strategic execution is driven by the Ralliant Business System, focusing on lean productivity, innovation, and continuous improvement.

• Presented at the Morgan Stanley 13th Annual Laguna Conference on September 10, 2025, led by the President and CEO.

Business Segments and Market Positioning

• Operates in two main segments: sensors and safety systems, and test and measurement, serving critical industries like utilities, defense, and manufacturing.

• 2024 revenue split: 56% from Sensors & Safety Systems, 44% from Test & Measurement.

• Holds stronghold positions in a $16 billion addressable market, embedded in customer workflows with differentiated precision and reliability.

• Serves 90,000 global customers across industrial, defense, utilities, electronics, communications, and semiconductor sectors.

• Operates 21 manufacturing locations and 15 R&D centers, with $2B+ revenue and ~7,000 employees.

Growth Vectors and Innovation

• Three primary growth vectors: grid modernization, defense technologies, and electrification.

• Grid modernization benefits from aging infrastructure and rising power demand, with over 4 million devices deployed globally.

• Positioned to benefit from trends in aging grid infrastructure, defense modernization, and electronics innovation.

• Ongoing investments in innovation, including new product introductions in test and measurement and expansion into software and automated testing.

• Defense segment is supported by long-term programs and strong demand signals.