NYSE: RAL

On June 28, 2025, the first day of the Company’s third fiscal quarter, Ralliant completed the Separation. The Separation was completed on such date in the form of a pro rata distribution to Fortive shareholders of record as of the close of business on June 16, 2025 (the “Record Date”) of all of the issued and outstanding shares of Ralliant common stock held by Fortive. Each Fortive shareholder as of the Record Date received one share of Ralliant common stock for every three shares of Fortive common stock held on the Record Date. Ralliant’s common stock began “regular way” trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “RAL” on June 30, 2025.

Ralliant is a Delaware corporation and was incorporated in 2024 in connection with the Separation.

Ralliant Business System

The Ralliant Business System (“RBS”) is the engine that drives the Company’s growth culture, combining an integrated toolkit of best practices, a continuous improvement mindset, and a disciplined operating cadence to deliver sustainable results. RBS creates a competitive advantage for Ralliant. Across the Company, RBS is a shared language that connects teams around the world and meaningfully empowers them to bring precision technologies to market faster.

RBS consists of a comprehensive set of processes and tools, across three pillars: Lean Operational Excellence, Innovation & Commercial Excellence, and Leadership. All pillars work individually and together to deliver upon the shared goal of driving sustained profitable growth while creating value for Ralliant’s people, customers, and shareholders.

RBS was originally developed by Danaher Corporation and further evolved and applied by the Former Parent, to continuously improve business performance in the areas of quality, delivery, cost, growth, and innovation. Ralliant continues to evolve RBS including the infusion of AI-powered approaches to accelerate its business performance, ways of working, and impact. Ralliant’s operating companies leverage RBS to identify and eliminate inefficiencies and to promote sustainable improvements in product development, sales and marketing, supply chain management, and manufacturing efficiency.

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RBS is the foundation of the Company’s culture of innovation, relentless execution, problem solving, and continuous improvement promoting discipline, speed, focus, and efficiency in delivering solutions to customers.

Business and Industry Overview

Ralliant has decades of domain expertise in delivering high precision innovative solutions, extensive proprietary assets that include a portfolio of approximately 2,200 active patents, and the trust of its diverse customers. The Company’s customers include engineers at industry leading companies, research institutions, and governments, across semiconductor, datacenter, consumer electronics, automotive, energy storage, defense and space, utilities, industrial manufacturing, and other industries. The team of over 1,300 engineers across the globe enables the Company’s unique ‘engineer to engineer’ approach, which allows the Company to build enduring trust, credibility, and partnerships with customers across both Fortune 1000 companies and next generation start-up enterprises.

The Company primarily operates in the following end markets: semiconductor, diversified electronics, communications, utilities, defense and space, industrial manufacturing, and other.

These end markets are large, diverse and are experiencing tailwinds in electrification and digitization. The Company’s focus on continuous innovation and its extensive product portfolio will position the Company as an enabler of technologies necessary to drive electrification and digitization. With key application expertise and solutions for engineers to enable advancements, the Company is positioned to benefit from these secular tailwinds. The following key trends and drivers of the Company’s primary end markets underlie favorable secular growth trends the Company expects to benefit from are:

Semiconductor:

•Next generation semiconductor technologies with higher power density, efficiency, and high-performance computing capability are required to support electrification and digitization across a wide range of end markets, which provides demand for Ralliant’s power test and measurement solutions as well as high-performance communications interface test and measurement solutions.

Diversified Electronics:

•Power electronics within factories, connected homes, smart buildings, digital health, AI data centers, and mobility is creating a need for high performance electronics, which has resulted in stable demand for Ralliant’s electronic test and measurement solutions in order to ensure the performance, reliability and safety of these electronic components and systems.

Communications:

•Exponential growth in data from next generation computing and networking technologies (AI/Machine Learning, Quantum Computing, Edge Computing, Silicon Photonics) creates the need for the Company’s communications test and measurement solutions to ensure compliance with new communications protocols.

Utilities:

•The growing need for power and efficient energy management in diverse industries (AI data centers and electrification of everything), increasing adoption of renewables (wind, solar, and hydrogen), bi-directional flow of power in the grid and distributed energy resource management are driving grid complexity and capacity expansion. This has created demand for the Company’s grid monitoring solutions, which monitor critical assets that are deployed in the grid, including transformers, switch gears, solar and wind farms, and nuclear reactors.

Defense and Space:

•Continued super-cycle of investments in defense technologies, as well as the rise of electric propulsion systems for satellites and spacecrafts, have increased demand for the Company’s precise safety ignition systems and energetic materials.

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Industrial Manufacturing and Other:

•The rise of industrial automation and the increasing digitization of manufacturing workflows are accelerating global investment in precision sensing technologies.

•Safety and regulatory needs are becoming increasingly complex, and the cost of failure is rising rapidly for critical environments monitoring such as food and beverage as well as healthcare.

Competitive Strengths

The Company’s differentiation is rooted in enduring trust and long-standing relationships with innovation leaders. Engineers depend on the Company’s deep expertise in precision as well as its reliability to advance next-generation technologies and safeguard mission-critical applications. Some of the Company’s competitive strengths include:

•Long-standing global reputation as a trusted innovation partner to engineers. The Company is a team of passionate engineers serving engineers. Its ability to understand and address unique challenges faced by engineers positions the Company as a trusted ally and preferred innovation partner. The Company operates as a global company with diverse channels, regional manufacturing footprints, and product development teams designed to best meet local needs, with the scale advantage and credibility of a global solutions provider. A wide range of customers trust the Company’s precision technology expertise.

•World-class precision technology expertise and intellectual property. The Company believes its ability to harness decades of domain expertise and customer application know-how uniquely positions it to deliver precision, accuracy, and reliability for cutting edge technologies and mission critical applications. This leadership is shown through the Company’s prominent positions in power electronics testing, high-performance data communications interface testing, energy storage systems testing, transmission transformer health monitoring, electronic ignition safety systems, and sensing solutions for monitoring critical environments.

•The Ralliant Business System. The Company’s team has been united by RBS, which has been consistently and rigorously applied across the Company’s businesses, leveraging Lean Operational Excellence, Innovation & Commercial Excellence, and Leadership principles. Through the application of RBS, the Company expects to drive continuous improvement, measured by metrics such as quality, delivery, cost, growth, and innovation.

•Industry leading partner ecosystem. The Company’s people are its key strategic advantage. Through decades of cultivation, the Company has built an extensive eco-system of loyal partners that enable its scale and reach and accelerate expansion to new markets. These partners are deeply engaged and committed to the Company’s high performance culture and are empowered to deliver customer value.

Purpose and Guiding Principles

Ralliant’s shared purpose and Guiding Principles define the Company’s culture and guide how teams show up, work together, and create value for customers and shareholders. Ralliant’s purpose is rooted in the success of its customers and their use of the Company’s precision technologies to create confidence that innovators, scientists, and engineers need to achieve breakthrough advancements across critical industries. The Guiding Principles provide a framework for behaviors expected of employees.

Ralliant’s Five Guiding Principles are:

•Win as One Team: We seek to understand diverse perspectives, build trust and collaborate across teams, and rally around shared goals to win together.

•Solve Problems: We tackle problems head-on with urgency and resilience, using data and customer insights to get to the root cause and solve what matters most.

•Learn by Doing: We actively experiment and pivot in real time, quickly learning from our experiences and growing through reflection, feedback, and shared learning.

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•Unlock Growth: We listen intently, stay curious and challenge our assumptions to spark bold ideas that generate value and deliver lasting impact for our customers.

•Own Our Future: We dream big, prioritize through focus and foresight, and hold ourselves accountable to create the future we want.

Reportable Segments

The Company operates and reports its results in two segments, Test and Measurement and Sensors and Safety Systems, each of which is further described below.

Test and Measurement

The Test and Measurement segment provides precision test and measurement instruments, systems, software, and services. Through its portfolio of industry leading solutions, including oscilloscopes, probes, source measuring units, semiconductor test systems, high-power bi-directional power supplies, and measurement analysis software packages, the Test and Measurement segment empowers scientists, engineers, and technicians to create and realize technological advances with greater efficiency, speed, and accuracy. Customers for these products and services include, among others, semiconductor design companies, foundries, integrated device manufacturers, hyperscalers, manufacturers of networking components and systems, defense technology and space program providers, consumer electronics design and manufacturing companies, electric mobility companies, designers and manufacturers of renewable energy systems, manufacturers of industrial electronics, and universities and advanced research laboratories.

Products and services within the Company’s Test and Measurement segment are marketed under a variety of leading brands, including TEKTRONIX, KEITHLEY INSTRUMENTS, SONIX, and EA ELECTRO-AUTOMATIK.

Sensors and Safety Systems

The Sensors and Safety Systems segment provides leading power grid monitoring solutions, safety systems for mission critical defense and space applications, and sensing solutions for critical environments where uptime, precision, and reliability are essential. This includes advanced monitoring, protection, and diagnostic solutions for high-voltage electrical assets in power generation, transmission, and distribution. Sensors and Safety Systems’ energetic materials, ignition safety systems, and precision pyrotechnic devices are used in mission-critical applications such as satellite deployment, rocket propulsion initiation, aerial vehicle safety systems, and military defense systems. The Sensors and Safety Systems segment also provides premium sensing products encompassing liquid level, flow, and pressure sensors, motion sensors and components, and hygienic sensors. Customers for these products and services include, among others, designers and manufacturers of critical power grid assets, power utilities, federal defense agencies, space agencies, defense suppliers, commercial aerospace and aviation companies, food and beverage processors, industrial manufacturers, hyperscalers, data center infrastructure providers, building automation and HVAC providers, healthcare providers, and semiconductor capital equipment providers.

Products and services in the Company’s Sensors and Safety Systems segment are marketed under a variety of brands, including QUALITROL, GEMS SENSORS, SETRA SYSTEMS, HENGSTLER DYNAPAR, ANDERSON-NEGELE, DOVER MOTION, SPECIALTY PRODUCT TECHNOLOGIES, and PACIFIC SCIENTIFIC ENERGETIC MATERIALS COMPANY.

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The following discussion includes information common to all of the Company’s segments.

Materials

Ralliant’s manufacturing operations employ a wide variety of raw materials, including electronic components, steel, plastics and other petroleum-based products, aluminum, and copper. Prices of oil and gas affect the Company’s costs for freight and utilities. The Company purchases raw materials from a large number of independent sources around the world. Tariffs affect the Company’s costs for impacted materials or components it imports into the United States and other countries. Based on the annual spend among the Company’s various suppliers, no single supplier is considered material. However, some components that require particular specifications or qualifications are dependent on a single supplier or a limited number of suppliers that can readily provide such components. The Company utilizes a number of techniques to address potential disruption in and other risks relating to the Company’s supply chain, including in certain cases the use of safety stock, alternative materials that meet the quality and regulatory requirements, and qualification of multiple supply sources. While external events such as natural disasters, geopolitical events, and hostilities have raised material and shipping costs in certain markets, the Company’s supply chain has been responsive to these dynamics, as the Company has implemented solutions to effectively support its operations and to help countermeasure production material shortages and distribution limitations. For further discussion of risks related to the materials and components required for the Company’s operations, please refer to “