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

Leadership transition and strategic vision

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

• Sees a strong fit with the company's growth stage, aiming to scale management processes while preserving innovation and entrepreneurial culture.

• Board and leadership aligned on transforming the company into 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 CANDU reactor heritage and involvement with multiple SMR designs.

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

Margin expansion and operational improvement

• Margin expansion is a top priority, targeting industry top quartile performance and aiming to reach and surpass a 15% Adjusted EBIT margin.

• Strategies include Lean execution, improved aftermarket mix, pricing optimization, and commercial acumen.

• Margin gains expected from both gross margin improvements and SG&A efficiencies, with a focus on segment-specific tools and project selection.

• Leadership team has strong Lean discipline, with new hires from Danaher and Honeywell backgrounds.