Belden Inc.

RECONCILIATION OF NON-GAAP MEASURES (Unaudited) We define free cash flow, which is a non-GAAP financial measure, as net cash from operating activities adjusted for capital expenditures net of the proceeds from the disposal of assets.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

We believe free cash flow provides useful information to investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments, service of debt principal, dividends and share repurchases.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

In addition, our actual results are likely to be impacted by other additional events for which information is not available, such as asset impairments, adjustments related to acquisitions and divestitures, severance, restructuring, and acquisition integration costs, gains (losses) recognized on the disposal of assets, gains (losses) on debt extinguishment, discontinued operations, and other gains (losses) related to events or conditions that are not yet known.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

Forward-looking statements also include any statements regarding future financial performance (including revenues, growth, expenses, earnings, margins, cash flows, dividends, capital expenditures and financial condition), plans and objectives, and related assumptions.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

As a result, we utilize the incremental borrowing rate to determine the present value of the lease payments, which is unique to each leased asset, and is based upon the term of the lease, commencement date of the lease, local currency of the leased asset, and the credit rating of the legal entity leasing the asset.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

The borrowing base under the Revolver includes eligible accounts receivable; inventory; and property, plant and equipment of certain of our subsidiaries in the United States, Belgium, Canada, Germany, the Netherlands, and United Kingdom.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

We are focused on execution, integration, and capturing the opportunity ahead of us.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

Effective January 1, 2026, we realigned our organizational structure, moving to a unified functional operating model designed to accelerate our solutions-first strategy, enhance operational agility, and capitalize on the increasing convergence of IT and OT.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Our long-term business goals are to: Achieve mid-single-digit annual revenue growth; Deliver incremental Adjusted EBITDA margins between 25% to 30%; Generate free cash flow margin approaching 10%; Execute a disciplined capital allocation strategy; and Realize annual Adjusted EPS growth of 10% to 12%.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

We closely monitor the global trade landscape and take appropriate measures in our supply chain and pricing strategies to mitigate the impact of increased tariffs.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Our strategic goal is to transition to a solutions provider and target faster growing geographies, applications, and trends within our end markets, in order to achieve growth that is higher than the general market growth rate.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

During the second quarter of 2026, the Company recognized a net EPS benefit of approximately $0.25 related to the expected recovery of International Emergency Economic Powers Act ( IEEPA ) tariffs, partially offset by the introduction of new tariffs.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

We are, from time to time, subject to routine litigation incidental to our business.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Historically, these lawsuits have primarily involved claims for damages arising out of the use of our products, allegations of patent or trademark infringement, and litigation and administrative proceedings involving employment matters and commercial disputes.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Global Trade Volatility During periods of significant volatility in global trade agreements, sharp and sudden increases in tariff rates have the potential to increase the input costs for our products and impact our ability to compete in certain jurisdictions.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

We closely monitor the global trade landscape and take appropriate measures in our supply chain and pricing strategies to mitigate the impact of increased tariffs.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Tariffs In February 2026, the U.

SEC original ↗Belden Inc. — 10-Q Quarterly report10-QJul 30, 2026

Record revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

Revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026

Net income — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Belden Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2026