Xylem : 2024 Investor Day Investor Day Presentation

Investor Day

May 30, 2024

Welcome to Reservoir Center for Water Solutions

Reservoir Mission

50+ Affiliate Partners Including

To advance the shared interests of the water sector through collaboration and constructive dialogue to make progress towards overcoming global water challenges

Convene

Create a shared space for collaboration and innovation

Ideate and Drive Action

Host programs that drive action in the water sector

Educate and Elevate

Facilitate community outreach and water sector education

2 Investor Day 2024

Our Agenda

11:00

12:00

1:00

1:30

Company Overview and Strategic Update

Driving Profitable Growth

Segment Presentations - MCS and WI Break

Segment Presentations - AW and WSS Financial Update

Break

Q&A and Closing Remarks

Lunch and Product Demonstrations

3 Investor Day 2024

Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, the words "anticipate," "estimate," "expect," "project," "intend," "plan," "contemplate," "predict," "forecast," "likely," "believe," "target," "will," "could," "would," "should," "potential," "may" and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements. By their nature, forward-looking statements address uncertain matters and include any statements that: are not historical, such as statements about our strategy, financial plans, outlook, objectives, plans, intentions or goals (including those related to our social, environmental and other sustainability goals); or address possible or future results of operations or financial performance, including statements relating to orders, revenues, operating margins and earnings per share growth.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward- looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include, among others, the following: the impact of overall industry and general economic conditions, including industrial, governmental, and public and private sector spending, interest rates, inflation and related monetary policy by governments in response to inflation, and the strength of the residential and commercial real estate markets, on economic activity and our operations; geopolitical events, including the ongoing and possible escalation of the conflicts involving Russia and Ukraine, and the Middle East, as well as regulatory, economic and other risks associated with our global sales and operations, including those related to domestic content requirements applicable to projects receiving governmental funding; manufacturing and operating cost increases due to macroeconomic conditions, including inflation, energy supply, supply chain shortages, logistics challenges, tight labor markets, prevailing price changes, tariffs and other factors; demand for our products, disruption, competition or pricing pressures in the markets we serve; cybersecurity incidents or other disruptions of information technology systems on which we rely, or involving our connected products and services; lack of availability or delays in receiving parts and raw materials from our supply chain, including electronic components (in particular, semiconductors); disruptions in operations at our facilities or that of third parties upon which we rely; uncertainty related to the realization of the benefits and synergies from our acquisition of Evoqua Water Technologies Corp.; safe and compliant treatment and handling of water, wastewater and hazardous materials; failure to successfully execute large projects, including with respect to meeting performance guarantees and customers' budgets, timelines and safety requirements; our ability to retain and attract leadership and other diverse and key talent, as well as competition for overall talent and labor; defects, security, warranty and liability claims, and recalls related to our products; uncertainty around restructuring and realignment actions and related costs and savings; our ability to execute strategic investments for growth, including related to acquisitions and divestitures; availability, regulation or interference with radio spectrum used by certain of our products; volatility in served markets or impacts on our business and operations due to weather conditions, including the effects of climate change; risks related to our sustainability commitments and related disclosures; fluctuations in foreign currency exchange rates; difficulty predicting our financial results; risk of future impairments to goodwill and other intangible assets; changes in our effective tax rates or tax expenses; financial market risks related to our pension and other defined benefit plans; failure to comply with, or changes in, laws or regulations, including those pertaining to our business conduct, operations, products and services, including anti-corruption, data privacy and security, trade, competition, the environment, climate change and health and safety; legal, governmental or regulatory claims, investigations or proceedings and associated contingent liabilities; matters related to intellectual property infringement or expiration of rights; and other factors set forth under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 ("2023 Annual Report") and in subsequent filings we make with the Securities and Exchange Commission ("SEC").

Forward-looking and other statements in this presentation regarding our environmental and other sustainability plans and goals are not an indication that these statements are necessarily material to investors, to our business, operating results, financial condition, outlook, or strategy, to our impacts on sustainability matters or other parties, or are required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking social, environmental and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. All forward-looking statements made herein are based on information currently available to us as of the date of this presentation. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

4 Investor Day 2024

Key Notes for Today's Presentation

• All references to financial performance metrics are on a non-GAAP basis. See appendix for non- GAAP definitions and reconciliations to GAAP results
• All 2024 references represent our 2024 full-year guidance
• All 2027 references represent our longer-term targets
• All segment financial metrics reflect the resegmentation as of January 1, 2024 in which the new
  Water Solutions and Services segment was created combining legacy Evoqua's Integrated Solutions and Services business, legacy Xylem's dewatering business from Water Infrastructure, and legacy Xylem's assessment services business from Measurement and Control Solutions
• Unless otherwise noted, all market size, market share and growth estimates are based on our internal analysis and assumptions

5 Investor Day 2024

Overview

1

2

3

4

Matthew Pine	5

President and Chief Executive Officer

6

6 Investor Day 2024

Company Overview and Strategic Update

Driving Profitable Growth

Segment Presentations

Financial Update

Q&A and Closing Remarks

Lunch and Product Demonstrations

Key Messages

Platform, culture and team to empower transition to a water-secure world

Drive resilient above-market growth, accelerated by Evoqua synergies

Committed to accelerate margin expansion through simplification

Compound earnings with disciplined capital allocation

Uniquely positioned to drive value creation and sustainability leadership

7 Investor Day 2024

Solving Water Challenges Has Never Been More Urgent

Intensifying Megatrends

Scarcity

Resilience

Quality

Compounded by Constraints

Management Capacity

Affordability

Our Purpose

To empower our customers and communities to build a more

water-secure world

8 Investor Day 2024

Accelerating Our Purpose With an Intentional Culture Shift

High-Impact Culture

Inspired to	Empowered	Accountable
Innovate	to Lead	to Deliver

Driving a high-impact culture to deliver performance with purpose

9 Investor Day 2024

Experienced Global Leadership Team

Presenters

Matthew Pine

President and CEO

Joined: 2020

United Technologies, Vestas, Lennox, Trane

Bill Grogan

Chief Financial Officer

Joined: 2023

IDEX, Walgreens, Crane, Sears

Additional Senior Leaders Present Today

Rodney Aulick	Franz Cerwinka	Snehal Desai	Dorothy Capers	Al Cho	Shuping Lu
President,	President, Applied	Chief Growth and	General Counsel	Chief Strategy and	President,
Water Solutions	Water and Business	Innovation Officer	Joined: 2022	External Affairs Officer	China and Asia
and Services	Transformation	Joined: 2018	National Express	Joined: 2013	Joined: 1995
Joined: 2001	Joined: 2020	Evoqua, Dow, Cargill	Group, US Foods	US Department of State,	JinBei Automobile
Evoqua, Siemens	Johnson Controls			Cisco, McKinsey, UN

Mike McGann	Hayati Yarkadas	Thomas Pettit	Claudia Toussaint	Naji Skaf
President, Measurement	President, Water	Chief Operations and	Chief People and	President, Middle East,
and Control Solutions	Infrastructure and Europe	Supply Chain Officer	Sustainability Officer	India, Africa and
and Americas	Joined: 2020	Joined: 2022	Joined: 2014	Australia
Joined: 2009	Trinseo, Tate and Lyle,	Generac, Pentair, GE	Barnes Group,	Joined: 2021
Sensus, Nortel, GE	DuPont	McKinsey, U.S. Army	Embarq, Sprint	Air Products, Air Liquide

The right team to lead the next stage of Xylem's evolution

10 Investor Day 2024