Core Insights - Genus Power has achieved a significant milestone by surpassing 26 million smart meter deployments globally, reinforcing its leadership in advanced metering solutions [1] - The company has installed over 10 million smart meters in India's national grid modernization program, establishing itself as the leading AMI Service Provider [1] Company Overview - Genus Power is a leading provider of end-to-end energy measurement and advanced metering solutions with over three decades of experience [1] - The company offers an integrated portfolio that includes smart electricity, gas, and water meters, communication systems, Head End Systems (HES), Meter Data Management (MDM) platforms, and utility-grade mobile applications [1] Manufacturing and R&D - Genus Power operates six fully integrated production facilities across India with a combined annual manufacturing capacity exceeding 18 million meters [1] - The company has a strong R&D ecosystem recognized by the Government of India, supported by a team of over 550 R&D and software engineering professionals [1] International Expansion - Genus has established a growing international presence in regions such as Africa, the Middle East, Southeast Asia, the Pacific, and SAARC markets [1] - The company collaborates with utilities and system integrators to deliver scalable and standards-compliant AMI solutions tailored to various regulatory and climatic conditions [1] Innovation and Technology - Genus is embedding AI-led initiatives across its operations to enhance productivity, forecasting accuracy, and decision-making [1] - The company is developing advanced analytics platforms to support loss detection, billing efficiency, and asset performance management [1] Strategic Vision - The company aims to be a long-term technology partner for utilities transitioning to digital, data-driven grids, emphasizing reliable hardware and intelligent software [1] - Genus Power is well-positioned to support utilities in accelerating smart grid adoption through various business models, including Capex, Opex, and Totex [1]

Core Insights - Itron reported a revenue of $571.66 million for the quarter ended December 2025, reflecting a year-over-year decline of 6.7% while EPS increased to $2.46 from $1.35 in the same quarter last year, exceeding the Zacks Consensus Estimate for EPS by 12.55% [1] Revenue Performance - Revenue from Outcomes was $111.83 million, surpassing the four-analyst average estimate of $98.38 million, with a year-over-year increase of 22.6% [4] - Revenue from Device Solutions was $104.83 million, slightly above the average estimate of $95.82 million, but showed a year-over-year decline of 3.4% [4] - Revenue from Networked Solutions was $351.95 million, below the estimated $366.53 million, representing a year-over-year decrease of 14.8% [4] - Service revenues from Networked Solutions reached $29.09 million, exceeding the average estimate of $24.5 million, with a year-over-year increase of 13.1% [4] - Product revenues from Device Solutions were $104.18 million, above the average estimate of $96.46 million, but down 3% year over year [4] - Product revenues from Networked Solutions were $322.86 million, below the estimated $339.58 million, reflecting a year-over-year decline of 16.7% [4] - Total product revenues were $474.33 million, slightly below the average estimate of $480.12 million, with a year-over-year decrease of 10.9% [4] - Service revenues from Outcomes were $64.54 million, exceeding the average estimate of $60.15 million, with a year-over-year increase of 20.5% [4] - Service revenues from Device Solutions were $0.65 million, below the estimated $1.09 million, showing a significant year-over-year decline of 43.9% [4] - Total service revenues were $97.33 million, surpassing the average estimate of $85.75 million, with a year-over-year increase of 21% [4] - Product revenues from Outcomes were $47.29 million, exceeding the average estimate of $38.97 million, with a year-over-year increase of 25.8% [4] Stock Performance - Itron's shares have returned -10.7% over the past month, compared to a -1.4% change in the Zacks S&P 500 composite, indicating potential underperformance in the near term with a Zacks Rank of 4 (Sell) [3]

©2026 ITRON CONFIDENTIAL PROPRIETARY February 17, 2026 Fourth Quarter 2025 Earnings Conference Call Tom Deitrich – President and Chief Executive Officer Joan Hooper – Senior Vice President and Chief Financial Officer Paul Vincent – Vice President, Investor Relations Conference Call Agenda • CEO – Business and Operations Update • CFO – Financial Results and 2026 Outlook • Q&A Forward Looking Statements This presentation contains, and our officers and representatives may from time to time make, "forward-looki ...

Core Insights - The report "Smart Metering in North America - 7th Edition" highlights the growing deployment of smart metering as a foundation for future smart grids, with significant initiatives in both developed and developing countries [1] - North America is projected to see a compound annual growth rate of 2.9% in the installed base of smart electricity meters from 152.4 million in 2024 to 180.9 million by 2030 [3][5] Market Overview - Asia-Pacific is the largest market for smart metering, while North America ranks third after Europe, with both regions experiencing a surge in smart metering projects in the past decade [2] - The penetration rate of smart electricity meters in North America is expected to rise from 82% in 2024 to over 91% by 2030, primarily driven by large investor-owned utility projects [7] Regional Insights - The installed base of smart electricity meters in the US reached 136.9 million in 2024, while Canada had 15.5 million [3] - Canada currently has a higher penetration of smart electricity meters compared to the US, but this gap is expected to narrow by 2030, with projected rates of 97% for Canada and 91% for the US [4] Industry Dynamics - Major players in the North American smart metering market include Itron, Landis+Gyr, and Aclara, with Itron holding a 35% market share and Landis+Gyr at 32% [8] - The market is characterized by a shift towards wireless RF technologies, which dominate installations in both electricity and gas sectors [9] Technology Trends - The report discusses the evolution of communication technologies for smart metering, highlighting the preference for RF mesh networks, particularly Wi-SUN-based systems [10] - Cellular communications have seen limited adoption due to cost concerns, but interest in private cellular networks is growing, potentially enhancing their role in smart metering [12] Future Outlook - The second wave of smart metering deployments is anticipated, with early adopters expected to account for nearly 75% of annual shipment volumes by the end of the forecast period [7] - Increasing investments in distribution automation, electric vehicle charging infrastructure, and smart streetlighting are driving the need for further synergies in smart metering applications [14]