Summary of Crane NXT Conference Call Company Overview - **Company**: Crane NXT - **Recent Acquisition**: Antares Vision S.p.A. [2][6] Industry Insights - **Market Focus**: Life sciences and food and beverage sectors, particularly in inspection, detection, and track and trace technology [2][3] - **Total Addressable Market (TAM)**: The acquisition of Antares Vision S.p.A. adds approximately $2 billion to Crane NXT's TAM in these sectors [6] Key Points from the Call Acquisition of Antares Vision S.p.A. - **Strategic Rationale**: The acquisition aligns with Crane NXT's strategy to enhance its technology offerings in secure, detect, and authenticate platforms across multiple markets [2][4] - **Differentiation**: Antares Vision S.p.A. is unique as it provides both the equipment and software for tracking and tracing products, which is a core differentiation in the industry [4] Financial Performance and Projections - **EBITDA Margins**: Antares Vision S.p.A. is expected to grow from mid-teens EBITDA margins to low 20% over the next three to five years [8][12] - **Synergy Targets**: Crane NXT aims for around €12 million in synergy targets from the acquisition, focusing on operational efficiencies and commercial synergies [8][9] Authentication Business - **Market Segments**: The authentication business is divided into three segments: brand, government, and ID security, with a combined TAM of over $1 billion [13][17] - **Growth Drivers**: The brand authentication segment is expected to grow through share expansion and new customer acquisition, while government solutions focus on tax stamps and compliance [15][16] Currency Business - **Demand Trends**: The international currency business is experiencing high demand, with a backlog exceeding $400 million, driven by central banks' concerns over counterfeiting [50][52] - **Redesign Cycles**: The upcoming U.S. currency redesign is expected to influence international redesign efforts, as central banks look to enhance security features [53] Operational Insights - **CPI Business**: The CPI segment is characterized as a low single-digit growth business with high operating margins, driven by demand in gaming and financial services [61][62] - **Service Expansion**: Crane NXT is expanding its service offerings, particularly in providing maintenance and repair services for retail checkout systems, which is expected to grow at mid-single digits [66][69] Financial Strategy - **Leverage Profile**: Following the acquisition, Crane NXT's leverage is projected to approach 2.9 times, with plans to reduce it to the low twos by 2026 using free cash flow [71][74] - **Dividend Policy**: The company is committed to maintaining a competitive dividend while focusing on organic investments and strategic acquisitions [74] Additional Insights - **New Product Launch**: The JetScan Ultra was launched to enhance efficiency and speed for financial services customers, showcasing Crane NXT's commitment to innovation [70] - **Technological Advancements**: The company is focused on leading technology evolution in authentication and currency, with ongoing investments in advanced security features [25][51] This summary encapsulates the key points discussed during the Crane NXT conference call, highlighting the company's strategic direction, market opportunities, and financial outlook.

FIRST QUARTER 2025 FINANCIAL RESULTS May 8, 2025 FORWARD-LOOKING STATEMENTS – DISCLAIMER This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectations. Words such as "anticipate(s)," "expect(s)," "intend(s)," "believe(s)," "plan(s)," "may," "will," "would," "could," "should," "seek(s)," and similar expression ...