UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38265 nVent Electric plc (Exact name of Registrant as specified in its charter) Ireland 98-1391970 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

Barclays 2023 Global 1 Industrial Conference Beth Wozniak, Chief Executive Officer Forward-Looking Statement and Key Definitions Caution Concerning Forward-Looking Statements This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the word ...

Financial Data and Key Metrics Changes - Full year sales grew 18% with adjusted EPS up 22% [5][12] - Fourth quarter sales were $742 million, up 11% year-over-year, or 15% organically [27][40] - Segment income for Q4 was $144 million, up 31% year-over-year, with a return on sales of 19.4%, an increase of 290 basis points [28][36] - Free cash flow for Q4 was $180 million, up 77% year-over-year [12][29] Business Line Data and Key Metrics Changes - Enclosures sales increased 17% organically, with segment income up 67% and return on sales at 19.2% [31][32] - Electrical and fastening sales grew 16% organically, with segment income up 18% and return on sales at 27.5% [33][34] - Thermal management sales grew 9% organically, with segment income up 1% and return on sales at 25.7% [35][36] Market Data and Key Metrics Changes - North America saw strong double-digit growth, while Europe grew in all segments at high single digits [14][31] - Developing regions experienced a decline primarily due to COVID-related impacts in China [14] - Orders in Q4 were flat year-over-year, following a 37% growth in the previous year [15] Company Strategy and Development Direction - The company focuses on high growth verticals, new products, global expansion, and acquisitions [11][17] - Infrastructure is now approaching 25% of sales, with significant growth in data solutions and power utilities [17][18] - The company aims to continue investing in electrification, sustainability, and digitalization trends [21][24] Management's Comments on Operating Environment and Future Outlook - Management expects continued strong growth in industrials and infrastructure due to investments in automation and electrification [21][22] - Supply chain challenges are anticipated to gradually improve, with an inflationary environment expected to persist [24] - The company is confident in its ability to manage price-cost dynamics effectively [24][41] Other Important Information - The company launched 59 new products in 2022, contributing approximately three points to sales growth [16][18] - The balance sheet remains strong with $298 million in cash and $600 million available on the revolver [38][39] - The company plans to return $183 million to shareholders, including dividends and share repurchases [39] Q&A Session Summary Question: Can you elaborate on the pricing strategy for 2023? - Management indicated that price plus productivity is expected to offset inflation, with a gradual improvement in productivity throughout the year [58][59] Question: What is the health of the distribution channel? - Management noted that while there was some seasonal destocking, strong demand and sell-through from distribution partners remain [60][61] Question: How do you view the sustainability of enclosure margins? - Management expects a return to a more normal margin profile for enclosures, with strong year-over-year margin expansion anticipated [68][69] Question: What is the outlook for data center solutions? - The company sees strong demand for liquid cooling solutions and power distribution units, driven by technology shifts in data centers [99][102] Question: Can you provide insights on R&D spending? - R&D spending has increased significantly, focusing on collaborative projects that meet market needs and reduce cycle times [126][128]

Earnings Presentation This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "forecasts," "should," "would," ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38265 nVent Electric plc | (Exact name of Registrant as specified in its charter) | | | --- | --- | | Ireland | 98-1391970 | | (State or other jurisdiction of incorporat ...

nVent Third Quarter 2022 1 Earnings Presentation October 28, 2022 Forward-Looking Statement and Key Definitions Caution Concerning Forward-Looking Statements This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "pla ...

Financial Data and Key Metrics Changes - Sales in Q3 2022 were $745 million, up 16% year-over-year or 20% organically, marking a record performance for the company [11][18] - Adjusted EPS increased by 25% year-over-year to $0.66, with segment income rising 22% to $144 million [11][20] - Free cash flow reached $126 million, up 17%, reflecting strong cash management amidst supply chain challenges [11][20] Business Line Data and Key Metrics Changes - Enclosures segment sales increased 20% organically to $388 million, with segment income up 27% to $72 million [21][23] - Electrical & Fastening segment sales grew 28% organically to $209 million, with segment income rising 26% to $61 million [24][25] - Thermal Management segment sales grew 13% organically to $148 million, with segment income up 14% to $36 million [26][27] Market Data and Key Metrics Changes - North America saw organic sales growth of 28%, while Europe experienced double-digit growth across all segments [15][18] - Developing regions, particularly China, faced a decline due to COVID-related lockdowns, impacting overall performance [15][72] Company Strategy and Development Direction - The company is focused on high growth verticals, new product launches, global expansion, and acquisitions, positioning itself well for the electrification trend [9][36] - Investments in sustainability and electrification are prioritized, with expectations that over 90% of new products will positively impact sustainability by 2025 [39][41] - The company aims to leverage its strong balance sheet for potential acquisitions that align with electrification trends [50][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong demand driven by infrastructure investments and energy transition trends [52][41] - The company anticipates an inflationary environment in 2023 but believes it can manage price/cost effectively [42][99] - There is optimism regarding the backlog and order growth, which supports expectations for Q4 and beyond [12][33] Other Important Information - The company raised its full-year sales guidance to a range of 18% to 19% organic growth, with adjusted EPS expected between $2.30 and $2.32 [31][30] - The company is actively managing working capital and expects cash flow momentum to continue into Q4 [20][28] Q&A Session Summary Question: Concerns about recent acquisition and leverage - Management confirmed a robust M&A pipeline and emphasized a disciplined approach to acquisitions, supported by a strong balance sheet [48][50] Question: Outlook for end markets in 2023 - Management expects strong performance in infrastructure and industrial sectors, with a cautious view on commercial and residential markets [51][54] Question: Fourth quarter revenue guidance and sequential sales - Management noted potential distributor destocking and FX headwinds as factors influencing Q4 guidance [61][63] Question: Impact of supply chain on free cash flow - Management indicated that higher working capital demands are affecting free cash flow guidance, but improvements in supply chain conditions are expected [73][74] Question: Labor challenges and productivity outlook - Management acknowledged labor challenges but expressed optimism about improving productivity through investments and training [84][96] Question: Performance in Europe and China - Management reported strong performance in Europe, with some challenges in China due to COVID lockdowns, but expects recovery [71][72] Question: Strength in chemicals sector - Management attributed strength in the chemicals sector to increased maintenance needs related to clean fuels and biofuels [113] Question: Commercial market activity in a higher rate environment - Management anticipates a slowdown in commercial activity but believes their diverse offerings will continue to drive growth [120][121] Question: New product introduction pace - Management confirmed a strong focus on new product introductions, with expectations to maintain or increase the pace despite potential economic slowdowns [129][130]

PART I FINANCIAL INFORMATION This section presents the unaudited condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations [ITEM 1. Financial Statements (unaudited)](index=3&type=section&id=ITEM%201.%20Financial%20Statements%20%28unaudited%29) This section presents unaudited condensed consolidated financial statements, including income, balance sheets, cash flows, and equity changes, with detailed notes [Condensed Consolidated Statements of Income and Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) This section presents the condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2022 and 2021 **Three Months Ended June 30, 2022 vs 2021:** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :-------------------------------- | :-------------- | :-------------- | :---------- | :--------- | | Net sales | $727.5 | $601.3 | $126.2 | 21.0% | | Gross profit | $267.8 | $235.2 | $32.6 | 13.9% | | Operating income | $104.7 | $88.3 | $16.4 | 18.6% | | Net income | $79.9 | $66.2 | $13.7 | 20.7% | | Basic EPS (USD) | $0.48 | $0.39 | $0.09 | 23.1% | | Diluted EPS (USD) | $0.48 | $0.39 | $0.09 | 23.1% | | Comprehensive income | $74.4 | $59.7 | $14.7 | 24.6% | **Six Months Ended June 30, 2022 vs 2021:** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :-------------------------------- | :-------------- | :-------------- | :---------- | :--------- | | Net sales | $1,422.2 | $1,150.2 | $272.0 | 23.6% | | Gross profit | $515.1 | $444.2 | $70.9 | 16.0% | | Operating income | $194.8 | $168.7 | $26.1 | 15.5% | | Net income | $147.7 | $131.6 | $16.1 | 12.2% | | Basic EPS (USD) | $0.89 | $0.78 | $0.11 | 14.1% | | Diluted EPS (USD) | $0.88 | $0.78 | $0.10 | 12.8% | | Comprehensive income | $141.5 | $147.4 | $(5.9) | -4.0% | [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the condensed consolidated balance sheets as of June 30, 2022, and December 31, 2021 **As of June 30, 2022 vs December 31, 2021:** | Metric | June 30, 2022 (Millions USD) | December 31, 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :----------------------------------- | :----------------------- | :--------------------------- | :---------- | :--------- | | Total current assets | $1,068.3 | $911.5 | $156.8 | 17.2% | | Total assets | $4,765.6 | $4,674.2 | $91.4 | 2.0% | | Total current liabilities | $612.1 | $636.3 | $(24.2) | -3.8% | | Total liabilities | $2,179.6 | $2,178.1 | $1.5 | 0.1% | | Total equity | $2,586.0 | $2,496.1 | $89.9 | 3.6% | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section presents the condensed consolidated statements of cash flows for the six months ended June 30, 2022 and 2021 **Six Months Ended June 30, 2022 vs 2021:** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (Millions USD) | | :------------------------------------------ | :-------------- | :-------------- | :---------- | | Net cash provided by (used for) operating activities | $63.9 | $143.3 | $(79.4) | | Net cash provided by (used for) investing activities | $(27.4) | $(250.4) | $223.0 | | Net cash provided by (used for) financing activities | $(19.7) | $86.1 | $(105.8) | | Change in cash and cash equivalents | $6.3 | $(20.7) | $27.0 | | Cash and cash equivalents, end of period | $55.8 | $101.8 | $(46.0) | [Condensed Consolidated Statements of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) This section presents the condensed consolidated statements of changes in equity for the six months ended June 30, 2022 and 2021 **Equity Changes for Six Months Ended June 30, 2022:** | Item | Amount (Millions USD) | | :------------------------------------ | :---------------- | | Net income | $147.7 | | Other comprehensive income (loss), net of tax | $(6.2) | | Dividends declared | $(58.3) | | Share repurchases | $(3.9) | | Exercise of options, net of shares tendered | $3.4 | | Shares surrendered by employees to pay taxes | $(4.7) | | Share-based compensation | $11.9 | | **Total Equity (June 30, 2022)** | **$2,586.0** | **Equity Changes for Six Months Ended June 30, 2021:** | Item | Amount (Millions USD) | | :------------------------------------ | :---------------- | | Net income | $131.6 | | Other comprehensive income (loss), net of tax | $15.8 | | Dividends declared | $(60.0) | | Share repurchases | $(20.0) | | Exercise of options, net of shares tendered | $11.6 | | Shares surrendered by employees to pay taxes | $(2.2) | | Share-based compensation | $6.2 | | **Total Equity (June 30, 2021)** | **$2,492.8** | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements, covering accounting policies, revenue, restructuring, EPS, acquisitions, assets, liabilities, debt, taxes, equity, segments, and contingencies [1. Basis of Presentation and Responsibility for Interim Financial Statements](index=7&type=section&id=1.%20Basis%20of%20Presentation%20and%20Responsibility%20for%20Interim%20Financial%20Statements) nVent Electric plc, a global provider of electrical connection and protection solutions, presents unaudited interim financial statements, acknowledging COVID-19's uncertain impacts - nVent Electric plc is a leading global provider of electrical connection and protection solutions, with three reporting segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management[22](index=22&type=chunk) - The COVID-19 pandemic has had and may continue to have an unfavorable impact on the business, with uncertain broader implications on results of operations and financial performance, potentially leading to changes in customer demand or constrained supply[27](index=27&type=chunk) [2. Revenue](index=7&type=section&id=2.%20Revenue) Revenue is disaggregated by geographic location and vertical for three segments, with Q2 2022 net sales of **$727.5 million** and increases in contract assets and liabilities **Net Sales by Geographic Location (Three Months Ended June 30, 2022):** | Segment | U.S. and Canada (Millions USD) | Developed Europe (Millions USD) | Developing (Millions USD) | Other Developed (Millions USD) | Total (Millions USD) | | :-------------------------- | :------------------- | :-------------------- | :-------------- | :------------------- | :--------- | | Enclosures | $252.2 | $81.1 | $43.0 | $4.5 | $380.8 | | Electrical & Fastening Solutions | $152.0 | $33.7 | $9.9 | $5.3 | $200.9 | | Thermal Management | $87.7 | $30.7 | $23.5 | $3.9 | $145.8 | | **Total** | **$491.9** | **$145.5** | **$76.4** | **$13.7** | **$727.5** | **Net Sales by Vertical (Three Months Ended June 30, 2022):** | Segment | Industrial (Millions USD) | Commercial & Residential (Millions USD) | Infrastructure (Millions USD) | Energy (Millions USD) | Total (Millions USD) | | :-------------------------- | :-------------- | :---------------------------- | :------------------ | :---------- | :--------- | | Enclosures | $210.6 | $51.3 | $90.7 | $28.2 | $380.8 | | Electrical & Fastening Solutions | $19.7 | $103.3 | $69.8 | $8.1 | $200.9 | | Thermal Management | $68.9 | $48.6 | $5.8 | $22.5 | $145.8 | | **Total** | **$299.2** | **$203.2** | **$166.3** | **$58.8** | **$727.5** | **Contract Balances (June 30, 2022 vs December 31, 2021):** | Metric | June 30, 2022 (Millions USD) | December 31, 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :---------------- | :----------------------- | :--------------------------- | :---------- | :--------- | | Contract assets | $57.4 | $48.9 | $8.5 | 17.4% | | Contract liabilities | $20.6 | $17.8 | $2.8 | 15.7% | | Net contract assets | $36.8 | $31.1 | $5.7 | 18.3% | - The majority of contract liabilities at December 31, 2021, were recognized in revenue during the six months ended June 30, 2022[32](index=32&type=chunk) - Remaining performance obligations for contracts with an original expected length of one year or more totaled **$40.3 million** as of June 30, 2022, with most expected to be recognized within the next 12 to 18 months[33](index=33&type=chunk) [3. Restructuring](index=10&type=section&id=3.%20Restructuring) Restructuring initiatives continued to reduce fixed costs, with total costs of **$4.3 million** for H1 2022, primarily from severance **Restructuring Costs (Six Months Ended June 30):** | Cost Type | 2022 (Millions USD) | 2021 (Millions USD) | | :---------------------- | :-------------- | :-------------- | | Severance and related costs | $3.7 | $2.7 | | Other | $0.6 | $2.4 | | **Total restructuring costs** | **$4.3** | **$5.1** | **Restructuring Costs by Segment (Six Months Ended June 30):** | Segment | 2022 (Millions USD) | 2021 (Millions USD) | | :-------------------------- | :-------------- | :-------------- | | Enclosures | $2.3 | $3.2 | | Electrical & Fastening Solutions | $0.0 | $0.6 | | Thermal Management | $0.1 | $1.3 | | Other | $1.9 | $0.0 | | **Total** | **$4.3** | **$5.1** | **Accrued Severance and Related Costs (Six Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | | :------------------ | :-------------- | :-------------- | | Beginning balance | $2.4 | $6.6 | | Costs incurred | $3.7 | $2.7 | | Cash payments and other | $(3.8) | $(5.4) | | Ending balance | $2.3 | $3.9 | [4. Earnings Per Share](index=11&type=section&id=4.%20Earnings%20Per%20Share) Basic and diluted earnings per share increased for both three and six months ended June 30, 2022, driven by higher net income **Earnings Per Ordinary Share (Three Months Ended June 30):** | Metric | 2022 (USD) | 2021 (USD) | | :-------------------------- | :--- | :--- | | Basic EPS | $0.48 | $0.39 | | Diluted EPS | $0.48 | $0.39 | **Earnings Per Ordinary Share (Six Months Ended June 30):** | Metric | 2022 (USD) | 2021 (USD) | | :-------------------------- | :--- | :--- | | Basic EPS | $0.89 | $0.78 | | Diluted EPS | $0.88 | $0.78 | **Weighted Average Ordinary Shares Outstanding (Millions, Six Months Ended June 30):** | Metric | 2022 | 2021 | | :-------------------------- | :--- | :--- | | Basic | 166.3 | 167.8 | | Diluted | 168.2 | 169.2 | [5. Acquisitions](index=11&type=section&id=5.%20Acquisitions) In 2021, nVent acquired Vynckier Enclosure Systems for **$27.0 million** and CIS Global for **$202.4 million**, integrating both into the Enclosures segment - Acquired Vynckier Enclosure Systems, Inc. on April 1, 2021, for approximately **$27.0 million** in cash, adding non-metallic enclosures to the Enclosures segment[38](index=38&type=chunk) - Acquired CIS Global LLC on June 30, 2021, for approximately **$202.4 million** in cash, enhancing intelligent rack power distribution and server slides products within the Enclosures segment[40](index=40&type=chunk) - The Vynckier acquisition resulted in **$13.5 million** in goodwill and **$6.1 million** in definite-lived customer relationships[39](index=39&type=chunk) - The CIS Global acquisition resulted in **$83.5 million** in goodwill, **$78.0 million** in customer relationships, and **$24.5 million** in developed technology[41](index=41&type=chunk) [6. Goodwill and Other Identifiable Intangible Assets](index=11&type=section&id=6.%20Goodwill%20and%20Other%20Identifiable%20Intangible%20Assets) Total goodwill decreased slightly to **$2,178.6 million** due to foreign currency translation, while identifiable intangible assets totaled **$1,103.8 million** **Goodwill by Reportable Segment (Millions USD):** | Segment | December 31, 2021 | Acquisitions/Divestitures | Foreign Currency Translation/Other | June 30, 2022 | | :-------------------------- | :------------------ | :------------------------ | :------------------------------- | :------------ | | Enclosures | $420.4 | $0.2 | $(8.0) | $412.6 | | Electrical & Fastening Solutions | $1,052.0 | — | — | $1,052.0 | | Thermal Management | $714.3 | — | $(0.3) | $714.0 | | **Total goodwill** | **$2,186.7** | **$0.2** | **$(8.3)** | **$2,178.6** | **Identifiable Intangible Assets (Millions USD, June 30, 2022):** | Asset Type | Cost (Millions USD) | Accumulated Amortization (Millions USD) | Net (Millions USD) | | :------------------------------ | :----- | :----------------------- | :---- | | Customer relationships | $1,290.7 | $(486.8) | $803.9 | | Proprietary technology and patents | $40.2 | $(13.4) | $26.8 | | **Total definite-life intangibles** | **$1,330.9** | **$(500.2)** | **$830.7** | | Trade names (indefinite-life) | $273.1 | — | $273.1 | | **Total intangibles** | **$1,604.0** | **$(500.2)** | **$1,103.8** | **Estimated Future Amortization Expense (Millions USD):** | Period | Estimated Amortization Expense (Millions USD) | | :-------------------- | :----------------------------- | | Q3-Q4 2022 | $35.4 | | 2023 | $70.5 | | 2024 | $69.9 | | 2025 | $69.9 | | 2026 | $69.9 | | 2027 | $69.9 | [7. Supplemental Balance Sheet Information](index=13&type=section&id=7.%20Supplemental%20Balance%20Sheet%20Information) This section details various balance sheet accounts, including inventories, current and non-current assets, and liabilities, as of June 30, 2022, and December 31, 2021 **Inventories (Millions USD):** | Category | June 30, 2022 | December 31, 2021 | | :---------------------- | :-------------- | :---------------- | | Raw materials and supplies | $127.5 | $104.5 | | Work-in-process | $37.6 | $33.3 | | Finished goods | $210.3 | $184.1 | | **Total inventories** | **$375.4** | **$321.9** | **Other Current Assets (Millions USD):** | Category | June 30, 2022 | December 31, 2021 | | :---------------------- | :-------------- | :---------------- | | Contract assets | $57.4 | $48.9 | | Prepaid expenses | $62.2 | $49.6 | | Prepaid income taxes | $11.2 | $2.2 | | Cross currency swap assets | $22.1 | — | | Other current assets | $2.7 | $1.3 | | **Total other current assets** | **$155.6** | **$102.0** | **Property, Plant and Equipment, Net (Millions USD):** | Category | June 30, 2022 | December 31, 2021 | | :-------------------------------- | :-------------- | :---------------- | | Land and land improvements | $38.1 | $39.8 | | Buildings and leasehold improvements | $178.6 | $184.5 | | Machinery and equipment | $495.3 | $488.5 | | Construction in progress | $21.2 | $25.5 | | **Total property, plant and equipment** | **$733.2** | **$738.3** | | Accumulated depreciation and amortization | $454.0 | $447.2 | | **Total property, plant and equipment, net** | **$279.2** | **$291.1** | [8. Derivatives and Financial Instruments](index=14&type=section&id=8.%20Derivatives%20and%20Financial%20Instruments) nVent uses derivative financial instruments, including foreign currency contracts and cross currency swaps, to manage market risk, with fair value changes recorded in earnings - The company uses foreign currency contracts to mitigate foreign currency exposure for certain assets and liabilities, with most having a maturity of less than one year and changes in fair value recorded in current period earnings[49](index=49&type=chunk) - Outstanding foreign currency derivative contracts had gross notional U.S. dollar equivalent amounts of **$163.1 million** at June 30, 2022, down from **$180.1 million** at December 31, 2021[50](index=50&type=chunk) - Cross currency swap agreements totaled **$342.1 million** notional amount at June 30, 2022, used as cash flow hedges for intercompany debt and net investment hedges for Euro-U.S. Dollar exchange rate exposure, with deferred foreign currency gains of **$16.3 million** in Accumulated other comprehensive loss[51](index=51&type=chunk) **Fair Value of Financial Instruments (Millions USD):** | Metric | June 30, 2022 (Recorded Amount) | June 30, 2022 (Fair Value) | December 31, 2021 (Recorded Amount) | December 31, 2021 (Fair Value) | | :---------------- | :------------------------------ | :------------------------- | :---------------------------------- | :----------------------------- | | Variable rate debt | $254.2 | $254.2 | $205.5 | $205.5 | | Fixed rate debt | $800.0 | $745.0 | $800.0 | $866.8 | | **Total debt** | **$1,054.2** | **$999.2** | **$1,005.5** | **$1,072.3** | **Recurring Fair Value Measurements (Millions USD, June 30, 2022):** | Instrument | Level 1 (Millions USD) | Level 2 (Millions USD) | Level 3 (Millions USD) | NAV (Millions USD) | Total (Millions USD) | | :-------------------------- | :------ | :------ | :------ | :---- | :---- | | Cross currency swap assets | — | $29.7 | — | — | $29.7 | | Foreign currency contract liabilities | — | $(1.6) | — | — | $(1.6) | | Foreign currency contract assets | — | $0.7 | — | — | $0.7 | | Deferred compensation plan assets | $11.7 | — | — | $4.7 | $16.4 | | **Total** | **$11.7** | **$28.8** | **—** | **$4.7** | **$45.2** | [9. Debt](index=16&type=section&id=9.%20Debt) Total debt increased to **$1,048.2 million** due to increased borrowings, with the company remaining in compliance with all financial covenants **Debt Outstanding (Millions USD):** | Debt Type | Average Interest Rate (%) (June 30, 2022) | Maturity Year | June 30, 2022 | December 31, 2021 | | :-------------------------- | :------------------------------------ | :------------ | :-------------- | :---------------- | | Revolving credit facility | 2.608% | 2026 | $157.9 | $106.7 | | Senior notes - fixed rate | 2.750% | 2031 | $300.0 | $300.0 | | Senior notes - fixed rate | 4.550% | 2028 | $500.0 | $500.0 | | Term loan facility | 2.874% | 2026 | $96.3 | $98.8 | | Unamortized debt issuance costs and discounts | N/A | N/A | $(6.0) | $(6.3) | | **Total debt** | | | **$1,048.2** | **$999.2** | | Less: Current maturities and short-term borrowings | | | $(5.0) | $(5.0) | | **Long-term debt** | | | **$1,043.2** | **$994.2** | - In November 2021, nVent Finance issued **$300.0 million** of **2.750%** senior notes due 2031 and redeemed **$300.0 million** of **3.950%** senior notes due 2023[57](index=57&type=chunk) - As of June 30, 2022, borrowing capacity under the Term Loan Facility was **$200.0 million**, and under the Revolving Credit Facility was **$442.1 million**[64](index=64&type=chunk) - The company was in compliance with all financial covenants in its debt agreements as of June 30, 2022, with no material uncertainty about its ongoing ability to meet those covenants[65](index=65&type=chunk) **Contractual Debt Obligation Maturities (Millions USD, as of June 30, 2022):** | Period | Amount (Millions USD) | | :----------- | :----- | | Q3-Q4 2022 | $2.5 | | 2023 | $5.0 | | 2024 | $5.6 | | 2025 | $7.5 | | 2026 | $233.6 | | 2027 | — | | Thereafter | $800.0 | | **Total** | **$1,054.2** | [10. Income Taxes](index=17&type=section&id=10.%20Income%20Taxes) The effective income tax rate increased to **17.2%** for H1 2022 from **13.0%** in 2021, primarily due to a prior-year one-time tax benefit **Effective Income Tax Rate (Six Months Ended June 30):** | Year | Effective Tax Rate (%) | | :--- | :----------------- | | 2022 | 17.2% | | 2021 | 13.0% | - The increase in the effective tax rate was primarily due to a **$5.2 million** discrete tax benefit related to a foreign subsidiary recorded in the first half of 2021[68](index=68&type=chunk) **Liability for Uncertain Tax Positions (Millions USD):** | Date | Amount (Millions USD) | | :---------------- | :----- | | June 30, 2022 | $13.4 | | December 31, 2021 | $15.6 | [11. Shareholders' Equity](index=17&type=section&id=11.%20Shareholders%27%20Equity) The Board authorized a **$300.0 million** share repurchase program, with **$200.0 million** remaining available, and declared quarterly cash dividends - A **$300.0 million** share repurchase authorization (2021 Authorization) began on July 23, 2021, and expires on July 22, 2024[71](index=71&type=chunk) **Share Repurchases (Six Months Ended June 30):** | Year | Shares Repurchased (Millions) | Value (Millions USD) | | :--- | :---------------------------- | :--------------- | | 2022 | 0.1 | $3.9 | | 2021 | 0.9 | $20.0 | - As of June 30, 2022, **$200.0 million** remained available for share repurchases under the 2021 Authorization[73](index=73&type=chunk) - A quarterly cash dividend of **$0.175** per ordinary share was declared on May 13, 2022, payable on August 5, 2022[74](index=74&type=chunk) [12. Segment Information](index=19&type=section&id=12.%20Segment%20Information) Segment performance is evaluated by net sales and segment income, with all three segments showing increased sales and income for Q2 2022 **Net Sales by Reportable Segment (Millions USD, Three Months Ended June 30):** | Segment | 2022 | 2021 | Change (Millions USD) | Change (%) | | :-------------------------- | :--- | :--- | :---------- | :--------- | | Enclosures | $380.8 | $300.4 | $80.4 | 26.8% | | Electrical & Fastening Solutions | $200.9 | $169.2 | $31.7 | 18.7% | | Thermal Management | $145.8 | $131.7 | $14.1 | 10.7% | | **Total** | **$727.5** | **$601.3** | **$126.2** | **21.0%** | **Segment Income (Loss) by Reportable Segment (Millions USD, Three Months Ended June 30):** | Segment | 2022 | 2021 | Change (Millions USD) | Change (%) | | :-------------------------- | :--- | :--- | :---------- | :--------- | | Enclosures | $61.5 | $53.7 | $7.8 | 14.5% | | Electrical & Fastening Solutions | $58.8 | $48.9 | $9.9 | 20.3% | | Thermal Management | $28.3 | $24.9 | $3.4 | 13.7% | | Other | $(23.4) | $(17.3) | $(6.1) | -35.3% | | **Total** | **$125.2** | **$110.2** | **$15.0** | **13.6%** | **Reconciliation of Segment Income to Income Before Income Taxes (Millions USD, Three Months Ended June 30):** | Item | 2022 | 2021 | | :------------------------------------ | :--- | :--- | | Segment income | $125.2 | $110.2 | | Intangible amortization | $(17.7) | $(16.0) | | Restructuring and other | $(2.3) | $(4.3) | | Acquisition transaction and integration costs | $(0.5) | $(1.6) | | Net interest expense | $(7.5) | $(8.1) | | Other expense | $(1.2) | $(0.6) | | **Income before income taxes** | **$96.0** | **$79.6** | [13. Commitments and Contingencies](index=19&type=section&id=13.%20Commitments%20and%20Contingencies) The company provides product warranties and indemnifications, with historically immaterial payments, and had **$38.5 million** in outstanding financial guarantees - The company provides service and warranty policies on its products, with liability based on historical claim experience, and the liability for service and product warranties was not material as of June 30, 2022[80](index=80&type=chunk) **Outstanding Value of Bonds, Letters of Credit, and Bank Guarantees (Millions USD):** | Date | Amount (Millions USD) | | :---------------- | :----- | | June 30, 2022 | $38.5 | | December 31, 2021 | $38.2 | [ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and results, covering business overview, recent events, key trends, consolidated and segment performance, liquidity, and critical accounting estimates [Forward-looking Statements](index=21&type=section&id=Forward-looking%20Statements) This report contains forward-looking statements subject to various risks and uncertainties, including global economic conditions, supply chain issues, and regulatory changes - The report contains forward-looking statements subject to risks and uncertainties, including the impact of COVID-19, global economic conditions, restructuring, acquisitions, competition, currency volatility, supply chain issues, and regulatory changes[83](index=83&type=chunk) [Overview](index=21&type=section&id=Overview) nVent is a global provider of electrical connection and protection solutions, operating in three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management - nVent is a global provider of electrical connection and protection solutions, operating in three segments: Enclosures (**52%** of H1 2022 revenues), Electrical & Fastening Solutions (**27%**), and Thermal Management (**21%**)[84](index=84&type=chunk)[85](index=85&type=chunk) - The Enclosures segment provides solutions for critical control systems, electronics, data, and electrical equipment across various verticals[86](index=86&type=chunk) - The Electrical & Fastening Solutions segment offers engineered electrical and fastening products for commercial, industrial, infrastructure, and energy verticals[86](index=86&type=chunk) - The Thermal Management segment provides electric thermal solutions, including heat tracing and floor heating, for industrial, commercial & residential, energy, and infrastructure verticals[86](index=86&type=chunk) - In 2021, nVent acquired Vynckier Enclosure Systems, Inc. for **$27.0 million** and CIS Global LLC for **$202.4 million**, both integrated into the Enclosures segment[87](index=87&type=chunk)[88](index=88&type=chunk) [Recent Events Updates](index=22&type=section&id=Recent%20Events%20Updates) The COVID-19 pandemic continues to cause economic disruption and supply chain challenges, while the company suspended new business activities in Russia - The COVID-19 pandemic continues to cause economic disruption, leading to supply chain challenges, increased lead times, and inflation of raw materials, logistics, and labor costs in 2021 and H1 2022[89](index=89&type=chunk)[90](index=90&type=chunk) - In response to the Russia-Ukraine conflict, nVent suspended new business activities in Russia, noting that its business activity in Russia is not material to operations but an escalation could have an adverse effect[92](index=92&type=chunk)[93](index=93&type=chunk) [Key Trends and Uncertainties Regarding our Existing Business](index=22&type=section&id=Key%20Trends%20and%20Uncertainties%20Regarding%20our%20Existing%20Business) Ongoing uncertainties include the COVID-19 pandemic's impact, supply chain challenges, inflationary costs, and the company's 2022 operating objectives - Ongoing uncertainties include the duration and severity of the COVID-19 pandemic, its impact on demand and supply chains, and governmental regulations[94](index=94&type=chunk) - Supply chain challenges and inflationary cost increases for raw materials, logistics, and labor are expected to continue throughout 2022, potentially impacting results despite pricing actions and productivity improvements[94](index=94&type=chunk) - The company's 2022 operating objectives include executing ESG strategy, enhancing employee engagement, achieving differentiated revenue growth through innovation, optimizing technological capabilities, driving operational excellence, optimizing working capital, and deploying capital strategically[96](index=96&type=chunk) [CONSOLIDATED RESULTS OF OPERATIONS](index=24&type=section&id=CONSOLIDATED%20RESULTS%20OF%20OPERATIONS) Consolidated net sales increased by **21.0%** for Q2 2022 and **23.6%** for H1 2022, driven by organic growth and acquisitions, despite gross profit margin declines **Consolidated Results of Operations (Three Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :-------------------------------- | :-------------- | :-------------- | :---------- | :--------- | | Net sales | $727.5 | $601.3 | $126.2 | 21.0% | | Gross profit | $267.8 | $235.2 | $32.6 | 13.9% | | Gross profit % of net sales | 36.8% | 39.1% | | (2.3 pts) | | Operating income | $104.7 | $88.3 | $16.4 | 18.6% | | Operating income % of net sales | 14.4% | 14.7% | | (0.3 pts) | | Net income | $79.9 | $66.2 | $13.7 | 20.7% | **Consolidated Results of Operations (Six Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (Millions USD) | Change (%) | | :-------------------------------- | :-------------- | :-------------- | :---------- | :--------- | | Net sales | $1,422.2 | $1,150.2 | $272.0 | 23.6% | | Gross profit | $515.1 | $444.2 | $70.9 | 16.0% | | Gross profit % of net sales | 36.2% | 38.6% | | (2.4 pts) | | Operating income | $194.8 | $168.7 | $26.1 | 15.5% | | Operating income % of net sales | 13.7% | 14.7% | | (1.0 pts) | | Net income | $147.7 | $131.6 | $16.1 | 12.2% | **Components of Change in Consolidated Net Sales (YoY):** | Component | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :---------------- | :------------------------------- | :----------------------------- | | Volume | 8.7% | 10.8% | | Price | 12.3% | 11.9% | | Organic growth | 21.0% | 22.7% | | Acquisition | 3.8% | 4.1% | | Currency | (3.8%) | (3.2%) | | **Total** | **21.0%** | **23.6%** | - Net sales increases were driven by organic sales growth across industrial, commercial & residential, and infrastructure businesses, including selling price increases, and contributions from the Vynckier and CIS Global acquisitions, partially offset by unfavorable foreign currency effects[99](index=99&type=chunk)[100](index=100&type=chunk) - Gross profit as a percentage of net sales decreased by **2.3** and **2.4 percentage points** for the three and six months, respectively, primarily due to supply chain challenges, increased lead times, and inflationary increases in raw materials, logistics, and labor costs[101](index=101&type=chunk) - Selling, general and administrative (SG&A) expense as a percentage of net sales decreased by **2.1** and **1.5 percentage points** for the three and six months, respectively, due to increased sales volume leveraging fixed operating expenses and savings from restructuring, partially offset by inflationary increases in labor and professional fees[101](index=101&type=chunk) - The effective tax rate for the first half of 2022 increased to **17.2%** from **13.0%** in 2021, primarily due to a **$5.2 million** one-time tax benefit recorded in 2021[102](index=102&type=chunk) [SEGMENT RESULTS OF OPERATIONS](index=26&type=section&id=SEGMENT%20RESULTS%20OF%20OPERATIONS) This section details the financial performance of nVent's three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management, highlighting sales and income changes [Enclosures](index=26&type=section&id=Enclosures) The Enclosures segment saw significant net sales growth for Q2 and H1 2022, driven by organic growth and acquisitions, despite a decline in segment income margin **Enclosures Segment Performance (Three Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $380.8 | $300.4 | 26.8% | | Segment income | $61.5 | $53.7 | 14.5% | | Segment income % of net sales | 16.2% | 17.9% | (1.7 pts) | **Enclosures Segment Performance (Six Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $740.2 | $577.4 | 28.2% | | Segment income | $111.8 | $102.5 | 9.1% | | Segment income % of net sales | 15.1% | 17.8% | (2.7 pts) | **Components of Change in Enclosures Net Sales (YoY):** | Component | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :---------------- | :------------------------------- | :----------------------------- | | Volume | 13.7% | 13.2% | | Price | 9.2% | 9.9% | | Organic growth | 22.9% | 23.1% | | Acquisition | 7.7% | 8.2% | | Currency | (3.8%) | (3.1%) | | **Total** | **26.8%** | **28.2%** | - Net sales increases were driven by organic growth in industrial, infrastructure, and commercial & residential businesses, including selling price increases, and contributions from the Vynckier and CIS Global acquisitions, partially offset by unfavorable foreign currency effects[108](index=108&type=chunk) - The decrease in segment income as a percentage of net sales was primarily due to supply chain challenges and inflationary increases in raw materials, logistics, and labor costs, partially offset by increases in selling prices and higher sales volume[107](index=107&type=chunk)[109](index=109&type=chunk) [Electrical & Fastening Solutions](index=28&type=section&id=Electrical%20%26%20Fastening%20Solutions) Electrical & Fastening Solutions reported net sales increases for Q2 and H1 2022, driven by organic growth and price increases, with mixed segment income margin performance **Electrical & Fastening Solutions Segment Performance (Three Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $200.9 | $169.2 | 18.7% | | Segment income | $58.8 | $48.9 | 20.3% | | Segment income % of net sales | 29.3% | 28.9% | 0.4 pts | **Electrical & Fastening Solutions Segment Performance (Six Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $388.5 | $317.1 | 22.5% | | Segment income | $105.9 | $88.1 | 20.2% | | Segment income % of net sales | 27.3% | 27.8% | (0.5 pts) | **Components of Change in Electrical & Fastening Solutions Net Sales (YoY):** | Component | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :---------------- | :------------------------------- | :----------------------------- | | Volume | (1.1%) | 3.9% | | Price | 23.0% | 21.3% | | Organic growth | 21.9% | 25.2% | | Currency | (3.2%) | (2.7%) | | **Total** | **18.7%** | **22.5%** | - Net sales increases were primarily driven by organic sales growth in commercial & residential and infrastructure businesses, including selective increases in selling prices, partially offset by unfavorable foreign currency effects[111](index=111&type=chunk) - The **0.4 percentage point** increase in segment income as a percentage of net sales for Q2 2022 was primarily due to increases in selling prices to mitigate inflationary cost increases, partially offset by supply chain challenges and inflationary costs[112](index=112&type=chunk) - The **0.5 percentage point** decrease in segment income as a percentage of net sales for H1 2022 was primarily due to supply chain challenges and inflationary increases in raw materials, logistics, and labor costs, partially offset by increases in selling prices and higher sales volume[113](index=113&type=chunk)[115](index=115&type=chunk) [Thermal Management](index=29&type=section&id=Thermal%20Management) Thermal Management achieved net sales growth for Q2 and H1 2022, driven by organic growth and price increases, with improved segment income margins despite cost pressures **Thermal Management Segment Performance (Three Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $145.8 | $131.7 | 10.7% | | Segment income | $28.3 | $24.9 | 13.7% | | Segment income % of net sales | 19.4% | 18.9% | 0.5 pts | **Thermal Management Segment Performance (Six Months Ended June 30):** | Metric | 2022 (Millions USD) | 2021 (Millions USD) | Change (%) | | :-------------------------- | :-------------- | :-------------- | :--------- | | Net sales | $293.5 | $255.7 | 14.8% | | Segment income | $60.7 | $45.9 | 32.2% | | Segment income % of net sales | 20.7% | 18.0% | 2.7 pts | **Components of Change in Thermal Management Net Sales (YoY):** | Component | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :---------------- | :------------------------------- | :----------------------------- | | Volume | 10.1% | 14.0% | | Price | 5.3% | 4.6% | | Organic growth | 15.4% | 18.6% | | Currency | (4.7%) | (3.8%) | | **Total** | **10.7%** | **14.8%** | - Net sales increases were primarily driven by organic sales growth in industrial and commercial & residential businesses, including selective increases in selling prices, partially offset by unfavorable foreign currency effects and a slowdown in capital spending in the energy business[114](index=114&type=chunk)[116](index=116&type=chunk) - The increase in segment income as a percentage of net sales was primarily due to higher sales volume and increases in selling prices to mitigate inflationary cost increases, partially offset by ongoing supply chain challenges and inflationary costs[117](index=117&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk) [LIQUIDITY AND CAPITAL RESOURCES](index=31&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) Liquidity is primarily from operations, with cash flows used for working capital, capital expenditures, debt service, and dividends, while maintaining investment-grade metrics - The primary source of liquidity is cash flows from operations, with expected cash requirements for working capital, capital expenditures, debt service, and dividends[120](index=120&type=chunk) - Net cash provided by operating activities decreased to **$63.9 million** in H1 2022 from **$143.3 million** in H1 2021, primarily due to a **$153.4 million** increase in working capital[122](index=122&type=chunk) - Net cash used for investing activities was **$27.4 million** in H1 2022, mainly for capital expenditures of **$20.8 million**, a significant decrease from **$250.4 million** in H1 2021 which included **$228.7 million** for acquisitions[123](index=123&type=chunk) - Net cash used for financing activities was **$19.7 million** in H1 2022, primarily due to **$58.4 million** in dividends paid and **$8.5 million** in share repurchases, partially offset by **$51.2 million** in net receipts from the revolving credit facility[124](index=124&type=chunk) **Free Cash Flow (Millions USD, Six Months Ended June 30):** | Metric | 2022 | 2021 | | :------------------------------------------ | :--- | :--- | | Net cash provided by (used for) operating activities | $63.9 | $143.3 | | Capital expenditures | $(20.8) | $(17.9) | | Proceeds from sale of property and equipment | $2.0 | $0.1 | | **Free cash flow** | **$45.1** | **$125.5** | [CRITICAL ACCOUNTING ESTIMATES](index=33&type=section&id=CRITICAL%20ACCOUNTING%20ESTIMATES) No material changes have occurred to the critical accounting policies and estimates previously disclosed in the 2021 Annual Report on Form 10-K - There have been no material changes to the critical accounting policies and estimates previously disclosed in the 2021 Annual Report on Form 10-K[144](index=144&type=chunk) [ITEM 3. Quantitative and Qualitative Disclosures about Market Risk](index=33&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in the company's market risk occurred during the quarter ended June 30, 2022 - No material changes in market risk occurred during the quarter ended June 30, 2022[145](index=145&type=chunk) [ITEM 4. Controls and Procedures](index=34&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes in internal control over financial reporting - Disclosure controls and procedures were evaluated and deemed effective at the reasonable assurance level as of June 30, 2022[147](index=147&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended June 30, 2022[148](index=148&type=chunk) PART II OTHER INFORMATION This section covers other information including legal proceedings, risk factors, equity sales, exhibits, and signatures [ITEM 1. Legal Proceedings](index=35&type=section&id=ITEM%201.%20Legal%20Proceedings) No material developments in legal proceedings have occurred since the 2021 Annual Report on Form 10-K - No material developments in legal proceedings since the 2021 Annual Report on Form 10-K[151](index=151&type=chunk) [ITEM 1A. Risk Factors](index=35&type=section&id=ITEM%201A.%20Risk%20Factors) No additional material changes to risk factors have occurred since the 2021 Annual Report on Form 10-K - No additional material changes to risk factors since the 2021 Annual Report on Form 10-K[152](index=152&type=chunk) [ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the company repurchased 9,846 ordinary shares, with **$200.0 million** remaining available under the 2021 share repurchase authorization **Share Repurchase Activity (Second Quarter 2022):** | Period | Total Shares Purchased | Average Price Paid Per Share (USD) | | :----------------------- | :--------------------- | :--------------------------- | | April 1 - April 30, 2022 | — | — | | May 1 - May 28, 2022 | 6,835 | $34.47 | | May 29 - June 30, 2022 | 3,011 | $32.03 | | **Total** | **9,846** | **—** | - As of June 30, 2022, **$200.0 million** remained available for share repurchases under the 2021 Authorization, which expires on July 22, 2024[155](index=155&type=chunk) [ITEM 6. Exhibits](index=36&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the Quarterly Report on Form 10-Q, including CEO/CFO certifications and iXBRL-formatted financial statements - Exhibits include certifications (31.1, 31.2, 32.1, 32.2) and financial statements formatted in iXBRL (101, 104)[158](index=158&type=chunk) [Signatures](index=37&type=section&id=Signatures) The report was signed on July 29, 2022, by the Executive Vice President and CFO, and the Senior Vice President, Chief Accounting Officer and Treasurer - The report was signed by Sara E. Zawoyski, Executive Vice President and Chief Financial Officer, and Randolph A. Wacker, Senior Vice President, Chief Accounting Officer and Treasurer, on July 29, 2022[160](index=160&type=chunk)[161](index=161&type=chunk)

nVent Electric plc (NYSE:NVT) Q2 2022 Earnings Conference Call July 29, 2022 8:30 AM ET Company Participants Tony Riter - Vice President, Investor Relations Beth Wozniak - Chief Executive Officer Sara Zawoyski - Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Nigel Coe - Wolfe Research Jeff Sprague - Vertical Research Jeff Hammond - KeyBanc Capital Markets Deane Dray - RBC Capital Markets Joe Ritchie - Goldman Sachs Operator Welcome to the nVent Electric Second Quarter 2022 E ...

nVent Second Quarter 2022 1 Earnings Presentation July 29, 2022 Forward-Looking Statement and Key Definitions Caution Concerning Forward-Looking Statements This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans ...