ATS (ATS) 47th Annual Raymond James Institutional Investor Conference summary

Leadership background and strategic fit

• Incoming CEO brings extensive experience from diversified industrials, private equity, and multinational corporations, with a focus on industrial technology and building automation.

• CEO's background includes roles at Indicor, Honeywell, United Technologies, and Ingersoll Rand, with significant international exposure, especially in Asia.

• Sees a strong fit with the company's growth stage, aiming to balance scaling management processes with maintaining innovation and entrepreneurial culture.

• Joined after alignment with the board on the transformative opportunity to build a larger, more profitable industrial automation enterprise.

Growth opportunities and market focus

• Life sciences represent about half of the business, with strong positions in GLP-1 therapies, radiation oncology, and medical devices.

• Unique optionality in emerging nuclear markets, leveraging heritage in CANDU reactors and relationships with SMR players.

• Food technology remains a stable, long-term core segment.

Margin expansion and operational strategy

• Margin improvement is a top priority, focusing on Lean execution, aftermarket mix, and pricing strategies.

• New margin targets will be set after progress toward the 15% Adjusted EBIT goal, aiming for top quartile industry performance.

• Leadership team has strong Lean discipline, with new executives bringing best practices from Danaher and Honeywell.

• Margin gains expected from both gross margin improvements and SG&A efficiency, with gross margin seen as the largest opportunity.

• Portfolio management within segments will prioritize higher-margin opportunities, especially in life sciences.