Eaton — Nov 4, 2025 release

The Company's fourth quarter and full year net income per ordinary share and adjusted earnings per ordinary share guidance for 2025 is as follows: Three months ended  December 31, 2025 Year ended December 31, 2025 Net income per share attributable to Eaton ordinary shareholders - diluted $2.75 - $2.95 $10.29 - $10.49 Excluding per share impact of acquisition and divestiture charges, after tax 0.07  0.34  Excluding per share impact of restructuring program charges, after tax 0.15  0.34  Excluding per share impact of intangible asset amortization expense, after tax 0.26  1.00  Adjusted earnings per ordinary share $3.23 - $3.43 $11.97 - $12.17 A reconciliation of operating cash flow to free cash flow is as follows:      Three months ended September 30 (In millions) 2025 2024 Operating cash flow $ 1,350  $ 1,308  Capital expenditures for property, plant and equipment (178) (183) Free cash flow $ 1,172  $ 1,126  Note 2. ACQUISITIONS OF BUSINESSES 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 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 Fibrebond Corporation On April 1, 2025, Eaton acquired Fibrebond Corporation (Fibrebond) for $1.45 billion, net of cash acquired. Fibrebond is a U.S. based designer and builder of pre-integrated modular power enclosures for data center, industrial, utility and communications customers. Fibrebond had sales of appro