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1 Key Performance Indicators & Non- GAAP Measures a variety Management performance indicators including revenue, segment operating income and margins, earnings per share, order of reviews key we cash and free some of which are non- GAAP. In addition, flow, consider certain measures to be useful to management and adjusted growth, backlog, evaluating our operating performance for the periods presented. These measures provide a tool for evaluating our ongoing operations and investors when of from period to period. This information can assist investors assets assessing our financial performance and measures our ability to management in capital for deployment among competing strategic alternatives and initiatives, including, but not limited to, acquisitions, dividends and share generate accounting . These are not measures of financial performance under however, principles generally accepted in the United States of metrics, repurchases (GAAP) and should not be considered a substitute for measures determined in accordance with GAAP. We consider the following non- GAAP America to which not be comparable to similarly titled measures reported by other companies, may be key performance indicators measures, purposes of our for reconciliation tables . Organic Revenue and Organic Orders are defined as revenue and orders, excluding the impacts of foreign currency fluctuations, acquisitions and divestitures . Divestitures sales of portions of our business that did not meet the criteria for presentation as a discontinued operation. The period- include -period a fixed resulting from foreign currency fluctuations is estimated using over exchange rate for both the current and prior periods . change information believes reporting organic revenue and organic orders provides useful that to investors by helping identify underlying trends in Management our business and facilitating easier comparisons of our revenue performance with prior and future periods and to our peers . Margin, Adjusted Adjusted Segment Operating Income, Adjusted Operating Income, and Adjusted Segment Operating Margin are Operating defined as total operating income and segment operating income, adjusted to exclude special items that include, but are not limited to, asbestos -related and costs, costs, realignment costs, certain acquisitions -related expenses, restructuring unusual or infrequent operating items . Special items represent and significant charges or credits that impact the current results, which management views as unrelated to the Company's ongoing operations segment operating operating segment performance. Adjusted operating margin and adjusted adjusted margin are defined as adjusted operating income or income divided total revenue. We believe that adjusted operating income and segment operating income are useful to investors and other users of our by operating statements operating profitability, as well as in evaluating ongoing performance in relation to our competitors . financial in evaluating Income from Continuing Operations, Adjusted EPS and Adjusted EPS Guidance are defined as Adjusted from continuing operations income attributable ITT Inc . and income from continuing operations attributable to ITT to . per diluted share, adjusted to exclude special items that include, but Inc are not limited to, asbestos -related costs, restructuring costs, realignment costs, certain acquisition- related expenses, income tax settlements or charges adjustments, and infrequent non -operating items . Special items represent significant unusual or credits, on an after -tax basis, that impact and current results, which management views as unrelated to the Company's ongoing operations and performance. The after -tax basis of each special item is benefit determined the jurisdictional tax rate of where the expense or using occurred. We believe that adjusted income from continuing operations is useful and to investors of other users our financial statements in evaluating ongoing operating profitability, as well as in evaluating operating performance in relation to our . competitors less Free is defined as net cash provided by operating activities Flow capital expenditures, adjusted for cash payments for restructuring Adjusted Cash realignment actions, net asbestos cash flows and other significant items costs, impact current results which management views as unrelated to the that Company's operations and performance. Due to other financial obligations ongoing commitments, including asbestos, the entire free cash flow may and not be available for discretionary purposes . We believe that adjusted free cash flow provides useful information to investors as it provides insight into the cash cash used by management to monitor and evaluate metric flows generated by our operations . flow Working Capital is defined as the sum of net receivables, net inventory and current contract assets less accounts payable and current contract liabilities . it also We that working capital provides useful information to investors as believe provides insight into the cash flow metric used by management to operations . our monitor and evaluate cash flows generated by – All Results are Unaudited Q1 2019 Earnings 13 www.itt.com/investors GAAP reconciliations, refer to appendix and For non-

2 ITT Inc. Non-GAAP Reconciliation Reported vs. Organic Revenue / Order Growth First Quarter 2019 & 2018 (In Millions) (As Adjusted - Organic) (As Reported - GAAP) (B) (D) (E) (F) = A-D-E (G) =C-D-E (H) = G / B (C) (A) Acquisition / Divestitures Revenue / Orders FX Impact Change % Change % Change Change 3M 2019 3M 2018 2019 vs. 2018 2019 vs. 2018 3M 2019 3M 2019 Adj. 2019 vs. 2018 Adj. 2019 vs. 2018 3M 2019 Revenue ITT Inc. 695.5 $ 689.3 $ 6.2 $ 0.9% - (28.6) $ 724.1 $ 34.8 $ 5.0% (1.3%) 315.2 342.2 (27.0) (7.9%) - (22.5) 337.7 (4.5) Motion Technologies - Industrial Process 189.8 25.9 13.6% 215.7 (3.8) 219.5 29.7 15.6% 6.0% Connect & Control Technologies 165.0 157.9 7.1 4.5% - (2.4) 167.4 9.5 Orders 1.4% 738.9 $ 761.2 $ (22.3) $ (2.9%) - (33.0) $ 771.9 $ 10.7 $ ITT Inc. - Motion Technologies 369.9 (38.4) (10.4%) 331.5 (25.5) 357.0 (12.9) (3.5%) Industrial Process 219.0 210.1 8.9 4.2% - (4.7) 223.7 13.6 6.5% Connect & Control Technologies 181.8 7.3 4.0% - 189.1 (2.8) 191.9 10.1 5.6% Note: Excludes intercompany eliminations Immaterial differences due to rounding 14 Earnings – All Results are Unaudited Q1 2019 2 www.itt.com/investors GAAP reconciliations, refer to appendix and For non-

3 ITT Inc. Non-GAAP Reconciliation Reported vs Adjusted Segment Operating Income & Operating Margin First Quarter 2019 & 2018 (In Mi lli ons) 3M 2019 3M 2018 3M 2018 % Change % Change 3M 2018 3M 2019 3M 2019 Special As Reported As Adjusted Special As Reported Items As Adjusted Items As Adjusted As Reported 2019 vs. 2018 2019 vs. 2018 Revenue: $ 315.2 315.2 $ Motion Technologies $ 342.2 $ (7.9%) (7.9%) 342.2 Industrial Process 215.7 215.7 189.8 189.8 13.6% 13.6% Connect & Control Technologies 165.0 157.9 157.9 4.5% 4.5% 165.0 (0.4) (0.4) (0.6) (0.6) Intersegment eliminations Total Revenue 695.5 $ 695.5 $ 689.3 $ 689.3 $ 0.9% 0.9% Operating Margin: BP 19.3% 20 BP 19.5% 18.1% 30 Motion Technologies BP 18.4% 120 BP 110 BP BP 170 Industrial Process 10.3% 40 BP 10.7% 8.9% 10 140 BP 9.0% BP Connect & Control Technologies BP 16.8% 14.6% 20 20 14.8% 200 BP 200 BP 16.6% Total Operating Segments 15.9% 30 BP 16.2% 14.8% 20 BP 15.0% 110 BP 120 BP Income (loss): 61.6 (1.6%) 61.9 (2.1%) Motion Technologies 60.9 $ 0.7 $ $ $ 1.0 62.9 16.9 35.3% 0.8 23.0 22.2 0.1 17.0 31.4% Industrial Process 23.0 Connect & Control Technologies 27.4 0.4 27.8 0.4 23.4 19.1% 18.8% $ 8.8% 8.5% Total Segment Operating Income 110.5 $ 1.9 $ 112.4 $ 101.8 $ 1.5 103.3 Note: Immaterial differences due to rounding. Special items include, but are not limited to, restructuring and realignment costs, certain asset impairment charges, acquisition-related expenses, and other unusual or infrequent operating items including certain legal matters. Earnings – All Results are Unaudited 15 Q1 2019 3 For non- GAAP reconciliations, refer to appendix and www.itt.com/investors

4 ITT Inc. Non-GAAP Reconciliation Reported vs. Adjusted Income from Continuing Operations & Adjusted EPS First Quarter 2019 & 2018 (In Millions, except per share amounts) Percent Change Q1 2019 Q1 2019 Q1 2018 Non-GAAP Q1 2018 2019 vs. 2018 2019 vs. 2018 Non-GAAP Adjustments As Adjusted As Reported Adjustments As Adjusted As Adjusted As Adjusted As Reported #A 112.4 #A 103.3 101.8 $ $ 1.5 $ $ $ $ 110.5 1.9 Segment Operating Income (11.1) #B (19.9) #B (7.6) 8.8 (19.9) Corporate (Expense) 12.3 110.6 90.6 14.2 Operating Income 104.8 (18.4) 92.2 Interest Income (Expense) 1.1 - 1.1 (0.7) - (0.7) Other Income (Expense) - (0.6) (0.6) (1.1) - (1.1) 90.4 Income from Continuing Operations before Tax (18.4) 91.1 14.2 105.3 108.8 (7.6) (21.5) #C #C (24.2) (13.9) (4.5) (19.7) Income Tax (Expense) Income from Continuing Operations 71.4 9.7 81.1 101.2 (32.3) 68.9 0.1 Less: Non Controlling Interest 0.1 - 0.1 0.1 $ Income from Continuing Operations - ITT Inc. 71.3 $ 9.7 $ 81.0 $ 101.1 $ (32.3) $ 68.8 EPS from Continuing Operations $ $ 0.11 $ 0.91 $ 1.14 $ (0.37) $ 0.77 0.80 0.14 18.2% Note: Amounts may not calculate due to rounding. #A - 2019 includes restructuring and realignment ($1.6M) and a legal accrual ($0.3M). #A - 2018 includes restructuring costs ($0.9M) and acquisition related costs ($0.6M). #B - 2019 includes asbestos related expense ($12.6M) and other income primarily from the sale of excess property ($0.3M). #B - 2018 includes asbestos related benefit ($19.7M) and certain income associated primarily with the sale of excess property ($0.2M). Note: ($19.7M) net asbestos related benefit includes a favorable settlement agreement ($32.1M) offset by asbestos related expense to maintain 10 year accrual ($12.4M). #C - 2019 includes various tax-related special items including tax benefit for valuation allowance change ($1.9M), tax benefit for tax law changes ($0.9M), tax expense on future distribution of foreign earnings ($2.8M), and the tax impact of other operating special items. #C - 2018 includes various tax-related special items including tax benefit for valuation allowance change ($22.1M), tax expense for tax law changes ($0.5M), tax expense on future distribution of foreign earnings ($3.7M), and the tax impact of other operating special items. – All Results are Unaudited 16 Earnings Q1 2019 4 www.itt.com/investors GAAP reconciliations, refer to appendix and For non-

5 ITT Inc. Non-GAAP Reconciliation Net Cash - Operating Activities vs. Adjusted Free Cash Flow Conversion First Quarter 2019 & 2018 (In Mi lli ons) 3M 2019 3M 2018 42.1 $ 42.4 $ Ne t Ca sh - Ope ra ting Activitie s Capital expenditures 29.2 28.7 Free Cash Flow 13.7 12.9 Insurance settlement agreement - (19.0) Asbestos cash payments, net 9.9 12.8 1.8 2.4 Restructuring cash payments - (0.2) Acquisition / Realignment-related cash payments Adjusted Free Cash Flow 24.6 9.7 Income from Continuing Operations - ITT Inc. 71.3 101.1 (32.3) 9.7 Special Items, net of tax Income from Continuing Operations - ITT Inc., Excluding Special Items 81.0 $ 68.8 $ 14.1% Adjusted Free Cash Flow Conversion 30.4% Earnings 17 – All Results are Unaudited Q1 2019 5 www.itt.com/investors GAAP reconciliations, refer to appendix and For non-

6 ITT Inc. Non-GAAP Reconciliation GAAP vs. Adjusted EPS Guidance Full Year 2019 2019 Full-Year Guidance Low High 2.78 EPS from Continuing Operations - GAAP $ $ 3.06 Estimated Asbestos Related Costs, Net of Tax 0.47 0.39 $ 3.45 $ 3.25 Estimated Restructuring, Realignment and Other Costs, Net of Tax 0.26 0.22 (0.01) (0.01) Other Special Tax Items $ 3.66 EPS from Continuing Operations - Adjusted 3.50 $ 18 – All Results are Unaudited Earnings Q1 2019 6 GAAP reconciliations, refer to appendix and www.itt.com/investors For non-

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