Eaton — Jan 31, 2025 release

The Company's first quarter and full year net income per ordinary share and adjusted earnings per ordinary share guidance for 2025 is as follows: Three months ended  March 31, 2025 Year ended December 31, 2025 Net income per share attributable to Eaton ordinary shareholders - diluted $2.30 - $2.40 $10.60 - $11.00 Excluding per share impact of acquisition and divestiture charges, after tax 0.01  0.04  Excluding per share impact of restructuring program charges, after tax 0.13  0.32  Excluding per share impact of intangible asset amortization expense, after tax 0.21  0.84  Adjusted earnings per ordinary share $2.65 - $2.75 $11.80 - $12.20 Reconciliations of operating cash flow to free cash flow are as follows:      Three months ended December 31 (In millions) 2024 2023 Operating cash flow $ 1,597  $ 1,298  Capital expenditures for property, plant and equipment (255) (243) Free cash flow $ 1,342  $ 1,055  Year ended December 31 (In millions) 2024 2023 Operating cash flow $ 4,327  $ 3,624  Capital expenditures for property, plant and equipment (808) (757) Free cash flow $ 3,518  $ 2,867  Note 2. ACQUISITIONS AND DIVESTITURE OF BUSINESSES Acquisition of a 49% stake in NordicEPOD AS On May 31, 2024, Eaton acquired a 49 percent stake in NordicEPOD AS, which designs and assembles standardized power modules for data centers in the Nordic region. Eaton accounts for this investment on the equity method of accounting and it is reported within the Electrical Global business segment. Acquisition of Exertherm On May 20, 2024, Eaton acquired Exertherm, a U.K.-based provider of thermal monitoring solutions for electrical equipment. Exertherm is reported within the Electrical Americas business segment. Acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd. On April 23, 2023, Eaton acquired a 49 percent stake in Jiangsu Rya