Safe Harbor and Regulation G Disclosures Non-GAAP Measures: $2.40 Third Quarter 2023 Highlights: $1.03B Q3 2023 Earnings Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "intend," ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter) Ohi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. Ohio 34-1860551 (State or other jurisdiction of incorpora ...

Non-GAAP 4) Pension net gains primarily due to the final settlement associated with the termination of a pension plan and are included in Other income (expense). Measures April 27, 2023 LINCOLN ELECTRIC HOLDINGS, INC. Q1 2023 Earnings Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events ...

Financial Performance and Targets - Lincoln Electric aims for a high teens to low 20% adjusted EPS CAGR (Compound Annual Growth Rate) from 2020 to 2025[7] - The company targets an average adjusted operating income margin of 16% (+/- 150 bps) as part of its Higher Standard 2025 Strategy[39] - Lincoln Electric targets an average ROIC (Return on Invested Capital) of 18% to 20%, aiming for top quartile performance[7, 39] - The company is targeting 15% average operating working capital as part of the 2025 strategy[7, 43] Growth Strategy and Market Position - Lincoln Electric is the 1 leader in the growing arc welding & cutting industry[7] - The company's automation sales run rate is $850 million, growing at a high single-digit to low double-digit organic sales rate with a low double-digit operating income margin[52] - Approximately 57% of 2022 equipment sales came from new products, reflecting a focus on innovation[43, 74] - Lincoln Electric estimates that 10% to 15% of its revenue serves infrastructure, EV (Electric Vehicle), and renewable energy applications[14, 51] Capital Allocation and Cash Flow - Lincoln Electric targets 100+% cash conversion[7, 43] - The company has a consecutive 27-year dividend increase history with a 13% CAGR (2018-2022)[7] Sustainability and ESG - Lincoln Electric is targeting a 52% reduction in safety incidents by 2025 compared to 2018, with a 25% reduction achieved by 2022[84]

Financial Performance - Net sales for 2022 increased to $3,761,211, a 16.3% increase from $3,234,180 in 2021[109] - Gross profit for 2022 was $1,280,760, representing 34.1% of sales, up from 33.0% in 2021, with a $212,155 increase year-over-year[109] - Operating income rose to $612,336 in 2022, a 32.6% increase compared to $461,669 in 2021[109] - Net income for 2022 was $472,224, a significant increase of 70.7% from $276,580 in 2021[109] - Consolidated net income rose by 70.8% to $472,224 in 2022 compared to $276,466 in 2021[119] - Adjusted EBIT for the consolidated entity increased by 29.7% to $636,951 in 2022 from $491,268 in 2021[119] - Adjusted diluted earnings per share increased to $8.27 in 2022 from $6.22 in 2021[128] Tax and Debt - The effective tax rate for 2022 was 20.3%, up from 14.9% in 2021, primarily due to a change in the mix of earnings[115] - The effective tax rate as reported was 20.3% in 2022, compared to 14.9% in 2021[128] - The total amount of debt outstanding as of December 31, 2022, was $1,203,879, an increase from $769,819 in 2021[142] - The Company’s total weighted average effective interest rate is 3.3%, with a remaining weighted average term of 11.4 years[144] - The Company entered into a term loan of $400,000 on November 29, 2022, maturing on November 29, 2025[147] - As of December 31, 2022, the Company had $45,000 of outstanding borrowings under its revolving credit agreement[145] - The Company had $1,118,336 in long-term debt, including the current portion, as of December 31, 2022[153] - The Company was in compliance with all debt covenants as of December 31, 2022[145] Segment Performance - The Americas Welding segment reported net sales of $2,288,934, a 25.5% increase from the previous year, driven by higher demand and product pricing[116] - International Welding segment net sales were $954,281, reflecting a slight increase of 0.6% despite unfavorable foreign exchange impacts[116] - Americas Welding net sales increased by 25.5% to $2,288,934 in 2022 from $1,824,481 in 2021[119] Cash Flow and Investments - Cash provided by operating activities increased by $18,323 to $383,386 in 2022 from $365,063 in 2021[135] - Cash used by investing activities rose significantly by $299,335 to $(504,691) in 2022 from $(205,356) in 2021, primarily due to acquisitions[135] - The company anticipates capital expenditures of $80,000 to $100,000 in 2023 to enhance capacity and operational effectiveness[137] Working Capital and Dividends - Average operating working capital to net sales increased to 20.9% in 2022 from 16.3% in 2021[139] - The company paid cash dividends of $130,724 in 2022, reflecting a 14.3% increase in the dividend payout rate[136] Investments and Expenses - The Company continues to invest in research and development to maintain its market-leading position in arc welding products[97] - The total stock-based compensation expense recognized in 2022 was $25,276, compared to $23,787 in 2021[158] - The Company's defined benefit plan expense was $(2,280) million in 2022, a significant decrease from $124,929 million in 2021, while defined contribution plan expense increased to $29,569 million in 2022 from $26,281 million in 2021[177] - The Company expects total 2023 expense related to retirement plans to increase by approximately $500 million to $1,500 million, excluding settlement charges[177] Financial Risk Management - The Company manages financial market risks, including currency exchange rates, commodity prices, and interest rates, using derivative financial instruments[194] - The gross notional dollar amount of foreign exchange contracts at December 31, 2022, was $66,296 million, with a hypothetical 10% change in the U.S. dollar potentially affecting accumulated other comprehensive income (loss) by $284 million[197] - The notional amount of commodity hedging contracts was 875,000 pounds at December 31, 2022, with a hypothetical 10% price change resulting in a value change of $319 million[200] - The gross notional dollar value of interest rate forward starting swap agreements was $100,000 million at December 31, 2022, with a hypothetical 100 basis point increase in effective interest rates potentially changing accumulated other comprehensive income (loss) by $7,584 million[201] Other Financial Metrics - The adjusted return on invested capital (ROIC) for 2022 was 22.7%, down from 23.9% in 2021[151] - The Company’s invested capital as of December 31, 2022, was $2,237,920, up from $1,633,728 in 2021[151] - The accumulated other comprehensive loss, excluding tax effects, decreased to $3,759 million as of December 31, 2022, down from $16,173 million as of December 31, 2021[178] - The excess of current cost over LIFO cost was $133,909 million at December 31, 2022, compared to $114,176 million at December 31, 2021[180] Revenue Recognition - The Company recognizes revenue primarily when control of the product is transferred to the customer, with less than 10% of net sales recognized over time[191]

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q4 2022 Earnings Conference Call February 21, 2023 10:00 AM ET Company Participants Amanda Butler - Vice President of Investor Relations and Communications Chris Mapes - Chairman, President and Chief Executive Officer Steve Hedland - Chief Operating Officer Gabe Bruno - Chief Financial Officer Conference Call Participants Saree Boroditsky - Jefferies Bryan Blair - Oppenheimer Mig Dobre - Baird Adam Farley - Stifel Dillon Cumming - Morgan Stanley Steve Barger - K ...

Financial Performance Highlights - Full Year 2022 adjusted Return on Invested Capital (ROIC) was 22.7%[9] - Record 2022 adjusted Earnings Per Share (EPS) increased by 33% compared to the prior year[9] - Record 2022 sales increased by 16% compared to the prior year, with organic sales up by 20%[16] - Returned $312 million to shareholders through dividends and share repurchases[16] - Q4 organic sales increased 14%[10] Q4 2022 Income Statement Analysis - Net sales increased by 10.3% year-over-year, reaching $930.9 million[17] - Adjusted operating income increased by 20.2% year-over-year, reaching $146.8 million[17] - Net income increased by 46.6% year-over-year, reaching $109.1 million[17] - Adjusted diluted EPS increased by 20.5% year-over-year, reaching $1.94[17] Segment Performance in Q4 2022 - Americas Welding segment net sales increased by 19.4% year-over-year, reaching $573.6 million[19] - International Welding segment net sales decreased by 1.0% year-over-year, reaching $243.1 million[21] - The Harris Products Group net sales decreased by 3.6% year-over-year, reaching $114.2 million[25] Cash Flow and Capital Allocation - Cash flow from operations increased by 5% compared to the prior year[9] - Capital expenditure was $820 million[40] - Return to shareholders totaled $57 million in Q4[40] - The company has total debt of $1.2 billion and net debt of $1.0 billion[44]

October 27, 2022 Lincoln Electric Holdings, Inc. Overview Virtual Nondeal Roadshow May 3, 2021 Gabe Bruno EVP & Chief Financial Officer LINCOLN ELECTRIC HOLDINGS, INC. Q3 2022 Earnings Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those express ...