Equibles

8-K

CHART INDUSTRIES INC (GTLS)

8-K 2023-10-27 For: 2023-10-27
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Added on April 12, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_____________________________________

FORM 8-K

_____________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 27, 2023

____________________________________

CHART INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

_____________________________________

Delaware 001-11442 34-1712937
(State of other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

2200 Airport Industrial Drive, Suite 100, Ball Ground, Georgia 30107

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (770) 721-8800

NOT APPLICABLE

(Former name or former address, if changed since last report)

_____________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 GTLS New York Stock Exchange
Depositary shares, each representing 1/20th interest in a share of 6.75% Series B Mandatory Convertible Preferred Stock, par value $0.01 GTLS.PRB New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02    Results of Operations and Financial Condition.

On October 27, 2023, Chart Industries, Inc. (the “Company”) issued a news release announcing the Company’s financial results for the third quarter ended September 30, 2023, as well as supplemental information for the third quarter ended September 30, 2023. A copy of the news release is furnished with this Current Report on Form 8-K as Exhibit 99.1, and a copy of the supplemental information is furnished with this Current Report on Form 8-K as Exhibit 99.2. All information in the news release and the supplemental information is furnished and shall not be deemed “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Exchange Act, or otherwise be subject to the liability of that Section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent the Company specifically incorporated it by reference.

The news release and supplemental information furnished with this Current Report on Form 8-K include measures of which exclude certain items required to be presented under generally accepted accounting principles (“GAAP”). These measures are not recognized under GAAP and are referred to as “non-GAAP financial measures” in Regulation G under the Exchange Act. The Company believes these measures are of interest to investors and facilitate useful period-to-period comparisons of the Company’s financial results, and this information is used by the Company in evaluating internal performance. The non-GAAP measures are reconciled to the most directly comparable GAAP measure in tables at the end of the news release and in the supplemental information.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit No. Description
99.1 Chart Industries, Inc. News Release, dated October 27, 2023, announcing the Company's 2023 third quarter results.
99.2 Chart Industries, Inc. Supplemental Information for 2023 third quarter results.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Chart Industries, Inc.
Date: October 27, 2023
By: /s/ Jillian C. Evanko <br>Jillian C. Evanko<br><br>President and Chief Executive Officer

3

Document

Exhibit 99.1

Chart Industries Reports Record 2023 Third Quarter Financial Results and Completes Divestiture of American Fan for $111 million

Atlanta, Georgia – October 27, 2023 - Chart Industries, Inc. (NYSE: GTLS) today reported strong results for the third quarter ended September 30, 2023. Results shown are from continuing operations unless otherwise noted and exclude the Roots™ financial results for our ownership period of March 17, 2023 through the close of the divestiture on August 18, 2023. When referring to any 2022 comparative period, all metrics are proforma for the combined business of Chart and Howden.

The following are included in continuing operations for the third quarter 2023: (a) We signed a definitive agreement on July 26, 2023 to sell our Cofimco fans business to PX3 Partners for $80 million, and this transaction is anticipated to close on October 31, 2023 (earlier than originally anticipated). For the third quarter 2023 and year-to-date through September 30, 2023, Cofimco is treated as an asset held for sale; (b) We signed and closed on the divestiture of our American Fan business for $111 million all-cash to Arcline Investment Management, L.P. (“Arcline”) on October 26, 2023 and thus, the American Fan business is not included in our outlook as of yesterday; (c) We expect to close on the sale of Cryo Diffusion for 4.25 million euros next week, and as a result, Cryo Diffusion is no longer included in our outlook. Further details can be found in the supplemental presentation accompanying this release and published in the investor relations section of our website. Highlights include:

•Record backlog of $4.1 billion is an increase of 4.4% compared to second quarter 2023 backlog (prior record) and was driven by record backlog for Repair, Service and Leasing (“RSL”) and Specialty Products

•Record orders of $1.13 billion grew 6.0% (30.6% ex Big LNG orders) compared to second quarter 2023 and resulted in book-to-bill of 1.26 (including 1.22 for RSL)

•Achieved a total of $297.9 million commercial synergies related to the Howden acquisition, exceeding our year-one commercial synergy target of $150 million; achieved year-one cost synergies of $135.6 million putting us on track to meet or exceed our year-one target of $175 million

•Sales of $897.9 million increased 9.8% when compared to the third quarter of 2022

•Reported gross profit of $276.2 million and associated reported gross profit as a percent of sales of 30.8% brings year-to-date 2023 gross margin above 30% and when adjusted for one-time items, primarily Howden deal and integration-related costs, gross profit as a percent of sales was 31.8%

•Third quarter 2023 record reported operating income of $104.4 million increased 9.1% compared to the second quarter 2023 and was a record $161.4 million when adjusted for primarily Howden deal and integration related costs; adjusted operating margin of 18.0% was a record

•Record reported EBITDA of $169.3 million drove record EBITDA margin of 18.9%; when adjusted for one-time costs primarily related to Howden deal and integration costs, adjusted EBITDA was $195.0 million and 21.7% EBITDA margin, an increase of 440 bps compared to third quarter 2022 proforma EBITDA margin

•Third quarter 2023 adjusted net cash provided by continuing operations (non-GAAP) of $104.4 million less continuing operations capital expenditures (net of proceeds of capex sales) of $57.4 million results in free cash flow (“FCF”) from continuing operations (non-GAAP) of $47.0 million; when adjusted for Howden deal related cash costs, adjusted FCF from continuing operations (non-GAAP) was $84.8 million (and $128.8 million when excluding accelerated capital investment in our Theodore, Alabama expansion and stub period payment)

•Executed numerous deleveraging actions resulting in a net leverage ratio of 3.59 (proforma 9/30/2023 net leverage ratio of 3.47 adjusting for Cofimco, Cryo Diffusion and American Fan divestitures)

•Achieved approximately $500 million of divestiture proceeds from a subset of the originally communicated asset sale perimeter within seven months post-close of the Howden acquisition

•Updating our full year 2023 sales guidance to $3.45 billion to $3.50 billion (prior outlook of $3.66 billion to $3.80 billion) to remove sales associated with American Fan, Cryo Diffusion, and Cofimco due to the accelerated timeline of these divestitures versus our original forecast as well as revenue timing between quarters with associated adjusted EBITDA 2023 range of $745 million to $760 million (prior outlook range of $780 million to $810 million). Increased adjusted FCF full year 2023 outlook to $335 million to $350 million (above mid-point of our previous guidance of $300 million to $350 million). Our full year 2023 adjusted EPS range is $6.05 to $6.25 (in line with our prior outlook)

•We are reiterating our 2024 adjusted EBITDA forecast of approximately $1.3 billion on our outlook for 2024 sales of approximately $5.1 billion, adjusted EPS of $14.00 plus, and FCF guidance of $575 million to $625 million

Records for the third quarter 2023 include backlog, orders excluding Big LNG, operating income, adjusted operating income, reported EBITDA and reported and adjusted EBITDA margin.

We continue to see strong demand across our business, resulting in record backlog of $4.1 billion for the combined business as well as Chart and Howden standalone backlog records, driven by third quarter 2023 orders of $1.13 billion and exceeding our year-one commercial synergy goal by nearly 100% at the seven-month post-Howden acquisition mark. Third quarter 2023 orders did not include any Big LNG orders and increased 6.0% sequentially from the second quarter 2023 which included an approximately $200 million Big LNG order. Excluding Big LNG orders, third quarter 2023 orders increased ~30% when compared to the second

quarter 2023 orders and increased 1.5% when compared to third quarter 2022 (proforma). HTS orders, excluding Big LNG, grew ~72% compared to the second quarter 2023.

Orders, $000 Q3 2023 Q2 2023 Change vs. Q2 '23 Q3 2022 PF Change vs. Q3 '22
Chart consolidated $1,127.3 $1,063.1 6.0% $1,202.9 -6.3%
Chart ex Big LNG $1,127.3 ~863 ~30% $1,111.1 1.5%
Heat Transfer Systems $176.1 $302.2 -41.7%
Heat Transfer Systems ex Big LNG $176.1 ~102 ~72%
Cryo Tank Solutions $155.6 $155.0 0.4%
Repair, Service and Leasing $331.2 $319.7 3.6%
Specialty Products $469.1 $293.2 60.0%

Third quarter 2023 record EBITDA margin of 18.9% and adjusted EBITDA margin of 21.7% exceeded our second quarter 2023 and grew 440 basis points when compared to the third quarter 2022 (proforma). Additionally, the third quarter 2023 gross margin of 30.8% (adjusted 31.8%) reflects our ongoing cost synergy achievements, strong aftermarket, service repair margin, price/cost actions, improved supply chain costs and operational execution. Each quarter since the close of the Howden acquisition produced both reported and adjusted gross margin above 30% and adjusted EBITDA margin above 21.5%, and we expect this trend to continue. Repair, Service and Leasing (“RSL”) and Cryo Tank Solutions (“CTS”) reported gross margins increased over 200 bps compared to the second quarter 2023 with strong RSL mix and continued price/cost improvements in CTS. CTS and Specialty Products also had record reported gross profit. This contributed to third quarter 2023 record reported operating income of $104.4 million and $161.4 million when adjusted for one-time costs primarily associated with the Howden deal and integration. Specialty Products segment, brazed aluminum heat exchangers, engineered tanks and systems and mobile equipment all had record operating income. Additionally, Operating margin increased in 3 of the 4 segments sequentially when compared with the second quarter 2023, and when excluding Big LNG, increased in all four segments. Adjusted operating margin increased in the third quarter 2023 across all four segments when compared to the third quarter 2022 (proforma).

Reported earnings per share for the third quarter 2023 was $0.05 and when adjusted for one-time costs, adjusted EPS of $1.28.

Third quarter 2023 sales of $897.9 million grew 9.8% when compared to the third quarter of 2022 (proforma) and included record sales for CTS and Specialty Products (proforma). We had approximately $100 million of sales shift from the third quarter 2023 to fourth quarter 2023 or early 2024 due to supply chain delivery timing related to our percent of completion revenue recognition, customer design changes, and RSL field service outage revenue timing, none of which is atypical given the nature of our business. This is revenue recognition timing, not lost

revenue, as evidenced by our significantly below 1% order cancellation rate (of backlog) historically (combined and standalone). Since the Howden acquisition we have had only 0.19% of backlog cancelled.

We concluded the third quarter 2023 with a total recordable incident rate (“TRIR”) of 0.52 (improved from 0.57 at June 30, 2023), with our lowest lost time incident rate (“LTIR”) of 0.20, and 70% of our locations being accident-free for a year or more, demonstrating our OneChart™ global team members’ continued commitment to our top priority, safety.

Continued broad-based demand with no indicators of slowing ahead.

Third quarter 2023 backlog of $4.1 billion set a new record, following the prior historical high backlog of $3.96 billion as of the end of the second quarter 2023. This reflects strong demand across our business and end markets which we expect to continue throughout the remainder of 2023 and the coming years. Third quarter 2023 orders of $1.13 billion did not include any Big LNG orders and resulted in a book-to-bill ratio of 1.26. We continue to expect one additional Big LNG order around year-end 2023. We are also very proud to announce that during the third quarter 2023 our IPSMR® liquefaction technology was chosen for a major international Big LNG project (modular design) for which the order is expected to be booked in late 2024 or early 2025 and engineering is already underway. We also received another patent for our mixed refrigerant technology in August 2023.

The drivers of the third quarter 2023 orders included strong hydrogen, small-scale LNG, water treatment, traditional energy, clean mining and carbon capture (“CCUS”) order activity, with space exploration and carbon capture orders year-to-date through September 30, 2023 exceeding the full year 2022 orders for these end markets (proforma) and with Specialty Products and RSL achieving record orders. CCUS, space exploration, hydrogen/helium and water treatment orders in the third quarter 2023 were our highest in any quarter in our history and included multiple wins from global customers. Additionally, our year-to-date mining orders exceeded the original plan for the full year 2023 as of July 2023. Overall, we booked orders with 83 new customers in the third quarter 2023 and had 26 first-of-a-kind orders. Examples of these include an order from Day & Zimmerman for a water treatment system for treating trace amounts of TNT in wastewater as well as a blower system for Seaspan which will be used in ice breaking in marine ships.

We booked 139 orders that were each above $1 million, the second quarter in a row with this metric being over 100. We expect this trend to continue, as we have already booked multiple orders October month-to-date each over $1 million, including one for approximately $15 million for hydrogen compression, one for a cryogenic hydrogen separation system project for a petrochemical application for $13.8 million, and a Wind Tunnel job for Great Wall Motor of approximately $7 million to use our low-noise Howden axial fans.

We continue to see hydrogen demand expand globally, across the gaseous and liquid hydrogen value chain and across various geographies, with multiple hydrogen synergy orders booked in the third quarter 2023, including an order for hydrogen compression worth over $16 million for a Korean customer. Trends positively impacting our record hydrogen backlog include the increasing size of orders, growth of end-use solutions where we have developed new more integrated products such as fuel stations, the inclusion of Howden compressors, and the growth of the liquefaction and production market itself.

On October 13, 2023, the U.S. Department of Energy (“DOE”) announced the selection of seven Regional Hydrogen Hubs (“H2Hubs”). We are a partner in the HyVelocity Hub with Cummins and Hyundai, among others. It is important to note that each of the seven Hubs (approximately $1 billion each) is not a single project in a single location, but rather each hub will be a collection of projects across the hydrogen value chain. We have been in discussion with many of the potential projects that will now be down selected by the respective Regional Hub partners, and we anticipate multiple orders across the hubs. We will not be limited as a supplier to just one hub as every Hub will need the type of solutions, technology and equipment in our hydrogen portfolio, including compression, liquefaction, load-out systems, storage tanks, trailers as well as carbon capture, CO2 storage and transport and water treatment.

Our commercial pipeline across end markets continues to grow. We have over $20.3 billion of potential orders in our commercial pipeline, including over $1.3 billion that are potential commercial synergy orders resulting from the Chart and Howden combination. Our total commercial pipeline as well as our synergy pipeline is expected to keep growing in the quarters and years ahead. In just one quarter, even with orders of $1.13 billion, our pipeline increased from $20.0 billion to $20.3 billion. Similarly, our commercial synergy pipeline increased from approximately $800 million in May 2023 to approximately $1 billion in July 2023 to over $1.3 billion currently.

Exceptional commercial and cost synergy achievement seven month following the close of the Howden acquisition.

A very strong third quarter 2023 for synergy orders resulted in commercial synergy awards totaling $297.9 million, exceeding our year-one commercial synergy target by nearly 100%. The breadth of the commercial synergy awards ranges from hydrogen liquefaction to a LNG retrofit, to a Middle East oil and gas project to carbon capture. These commercial synergy awards are generated from Chart and Howden legacy customers and new customers.

To date, we have achieved $135.6 million of annualized cost synergies. More cost synergy potential has been identified as the teams work together and the annual cycle of many renewals occurs in January 2024. We reiterate our expectation that we will deliver or exceed our year-one cost synergy target of $175 million by March 2024.

“We are extremely pleased with our third quarter and year-to-date 2023 performance and execution, including record operating income, adjusted operating income growth, record backlog, and exceeding our year-one commercial synergy target by 100%, all of which set us up to deliver our 2024 outlook” stated Jill Evanko, Chart’s CEO and President. “What may be the most important factors for our success over the next decade is our continuing growth of our orders and commercial pipeline coupled with our achievement of record operating and EBITDA margins, all of which we expect to continue ahead, supporting our profitable growth strategy.”

Aftermarket, service and repair demand and execution has been exceptionally strong since the close of the Howden acquisition with third quarter 2023 RSL gross margins of 43.3%.

The RSL segment had another strong order and margin quarter as we continue to see global aftermarket demand. Our long-term service agreements (“LTSAs”) and Framework Agreements for multi-year service and repair capabilities have increased by 9.2% since the beginning of the year. Third quarter 2023 book-to-bill for RSL was 1.22, and RSL orders increased 22.1% when compared to RSL (proforma) third quarter 2022. Year-to-date September 30, 2023, RSL orders increased 15.7% when compared to the same period in 2022 (proforma) supporting record third quarter 2023 RSL backlog of $609.7 million, an increase of 36.7% compared to the third quarter 2022 (proforma for the combined business). RSL sales declined sequentially (by approximately $27.4 million) from the second quarter 2023 due to customer timing of outages and timing of field service repairs scheduled for fourth quarter customer capital spend. RSL sales increased 15.5% year-to-date third quarter 2023 when compared to the same period in 2022.

Multiple deleveraging actions drove September 30, 2023 net leverage ratio of 3.59 (proforma 9/30/2023 net leverage ratio for announced divestitures of 3.47).

We have achieved approximately $500 million of divestiture proceeds (approximately $411 million cash received to date and approximately $84.5 million expected this month) from our originally communicated asset sale perimeter. Additionally, we have one additional business that was considered in the original asset sale perimeter that has not been sold, and we are evaluating whether we will proceed with a divestiture or keep the business within our portfolio.

In addition to the above, we successfully repriced our Term Loan B and repatriated approximately $25 million cash from restricted jurisdictions (China, South Africa, India) – continuing to drive efficiency of cash balances globally. In the fourth quarter 2023, we anticipate closing on facility sales at two locations, generating approximately $4.75 million of additional cash.

We previously announced our facility expansion in Theodore, Alabama, and we’ve accelerated our investment timing to take advantage of market opportunities. These opportunities are

primarily in the space exploration, rail and marine market segments where multiple, high quality and longstanding customers are accelerating their activities and want deliveries as early as possible in 2024. We were able to work with our building contractors to accelerate the pouring of the very thick concrete floor (holds tanks up to 1 million pounds) and expedite the arrival and erection of the building steel. We originally had multi-phase capex optionality which was to be determined based on future demand. Given the rail car order activity, we also decided to accelerate what was originally “phase 2” scope, with the rail spur revamp and addition at the facility. We now expect occupancy and the beginning of operations earlier than originally anticipated. While expediting this schedule pulled forward related capital expenditure spend, it was instrumental in securing the $58 million of third quarter 2023 orders booked specifically for Teddy 2, bringing backlog for that specific facility to over $115 million, an incredibly high return on investment (“ROI”) project for us.

The technical presentation of net cash from operations on the statement of cash flows includes all activity related to Roots™ discontinued operations, Howden acquisition adjustments and Cofimco assets held for sale as well as continuing operations. Therefore, when removing the non-continuing operations activity in the quarter, our adjusted net cash provided by continuing operations (non-GAAP) was approximately $104.4 million. Capital expenditures from continuing operations in the third quarter 2023 (net of proceeds from sales of capex), was approximately $57.4 million, including the accelerated spend on our Theodore, Alabama facility of approximately $35 million. Therefore, FCF from continuing operations (non-GAAP), excluding any adjustments, was $47.0 million. When adjusted for deal and integration related activities (M&A advisor and other deal and integration related cash costs of $37.8 million), net cash from continuing operations (non-GAAP) was approximately $142.2 million, resulting in adjusted FCF from continuing operations (non-GAAP) of $84.8 million (excluding the additional Thoedore, Alabama capex spend and the stub period, not repeating interest payment, was normalized FCF from continuing operations (non-GAAP) was approximately $128.8 million).

In addition to the above, third quarter 2023 operational cash from continuing operations included the payment of our second half 2023 senior secured note interest in July 2023 of approximately $83 million (will not repeat in the fourth quarter 2023 and beginning in 2024 will be approximately $74 million semi-annually going forward).

In visual format, the following table walks from U.S. GAAP reported statement of cash flows , cash from operations (which includes both continuing and discontinued operations) to our adjusted FCF from continuing operations (non-GAAP) of $84.8 million, which is the metric we are using for guidance.

Q3 2023 6/30/2023 YTD
A Net cash (used in) provided by operating activities (US GAAP) (22.6) $59.5
B Impact of non-continuing operations of Cofimco and Roots 89.7
C Howden acquisition adjustments/FX/other 37.3
D Adjusted net cash provided by continuing operations (non-GAAP) 104.4

All values are in US Dollars.

E Capital Expenditures (63.6)
F Gain on sale of property 3.6
G Discontinued operations capital expenditures 2.6
H Free cash flow, from continuing operations (non-GAAP) 47.0
I M&A advisor and other Howden M&A related cash costs 37.8
J Adjusted FCF, from continuing operations (non-GAAP) 84.8
K Teddy2 capex acceleration for phase 2 35.0
L Non-repeating stub Sr. Secured Notes payment 9.0
M Normalized FCF, from continuing operations (non-GAAP) 128.8

All values are in US Dollars.

Updating 2023 Outlook and Providing 2024 Forecast.

We are updating our full year 2023 sales forecast to approximately $3.45 billion to $3.50 billion (prior 2023 full year sales forecast of $3.66 billion to $3.80 billion). This is driven by the removal of sales associated with American Fan, Cryo Diffusion, and Cofimco due to the accelerated closing as compared to the originally anticipated closing timing as well as our expectation of the timing of the delayed revenue recognition moving into 2024 primarily from supply chain delivery timing. Our full year adjusted EBITDA is anticipated to be in the range of $745 million to $760 million (prior 2023 full year forecast of $780 million to $810 million). In aggregate, we divested a total of approximately $225 million of annualized revenue at EBITDA multiples in-line with prior Chart transactions, as previously discussed. We expect to see a sequential step up in adjusted free cash flow in the fourth quarter 2023, resulting in a full year 2023 outlook for adjusted free cash flow of $335 million to $350 million, above the mid-point of our prior range of $300 million to $350 million. Our expected full year 2023 adjusted EPS is in the range of $6.05 to $6.25, narrowed from our prior outlook range of $5.70 to $6.70.

Our 2024 adjusted EBITDA forecast of approximately $1.3 billion remains unchanged from November 2022 despite the divestitures we announced year-to-date 2023. We are initiating a 2024 sales outlook of approximately $5.1 billion and an adjusted earnings per share estimate of $14.00 plus. In addition, we anticipate our full year 2024 free cash flow to be in the range of $575 million to $625 million. We look forward to sharing further 2024 metrics at our Investor Day at the New York Stock Exchange on November 28, 2023.

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s business plans, including statements regarding completed acquisitions, divestitures, and investments, cost and commercial synergies and efficiency savings, objectives, future orders, revenues, margins, segment sales mix, earnings or performance, liquidity and cash flow, inventory levels, capital expenditures, supply chain challenges, inflationary pressures including material cost and pricing increases, business trends, clean energy market opportunities including addressable markets, and governmental initiatives,

including executive orders and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as "may," "will," "should," "could," "expects," "anticipates," "believes," "projects," "forecasts," “outlook,” “guidance,” "continue," “target,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this press release or in other statements made by the Company are made based on management's expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control, that could cause the Company's actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include: the Company’s ability to successfully integrate the Howden acquisition and other recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions; the Company’s ability to successfully close on its identified divestitures and achieve the anticipated proceeds from these divestitures; slower than anticipated growth and market acceptance of new clean energy product offerings; inability to achieve expected pricing increases or continued supply chain challenges including volatility in raw materials and supply; risks relating to the outbreak and continued uncertainty associated with the coronavirus (COVID-19) and regional conflicts and unrest, including the recent turmoil in the Middle East and the conflict between Russia and Ukraine including potential energy shortages in Europe and elsewhere; and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.

USE OF NON-GAAP FINANCIAL INFORMATION

This press release contains non-GAAP financial information, including adjusted gross profit and gross profit as a percent of sales, adjusted net income, adjusted operating income, adjusted earnings per diluted share, net income attributable to Chart Industries, Inc. adjusted, free cash flow and adjusted free cash flow and EBITDA and adjusted EBITDA. For additional information regarding the Company's use of non-GAAP financial information, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), please see the reconciliation pages at the end of this news release and the slides titled "Third Quarter 2023 Adjusted EPS," “Third Quarter 2023 Free Cash Flow”, “Third Quarter 2023 Adjusted EBITDA” and “Third Quarter 2023 Adjusted Gross Margin” included in the supplemental slides accompanying this release.

The Company believes these non-GAAP measures are of interest to investors and facilitate useful period-to-period comparisons of the Company’s financial results, and this information is used by the Company in evaluating internal performance. With respect to the Company’s 2023

and 2024 full year earnings outlook, the Company is not able to provide a reconciliation of the adjusted EBITDA or adjusted free cash flow because certain items may have not yet occurred or are out of the Company’s control and/or cannot be reasonably predicted.

CONFERENCE CALL

As previously announced, the Company has scheduled a conference call for Friday, October 27, 2023 at 8:30 a.m. ET to discuss its third quarter 2023 financial results. Participants wishing to join the live Q&A session must dial-in with the following information:

PARTICIPANT INFORMATION: Toll-Free - North America: (+1) 888 259 6580 Toll North America and other locations: (+1) 416 764 8624 Conference ID: 83938216

A live webcast and replay will be available on the Company's investor relations website through the following link: Q3 2023 Webcast Registration.

About Chart Industries, Inc.

Chart Industries, Inc. is a leading independent global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handing for the Nexus of Clean™ - clean power, clean water, clean food, and clean industrials, regardless of molecule. The company’s unique product and solution portfolio across stationary and rotating equipment is used in every phase of the liquid gas supply chain, including engineering, service and repair from installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With 64 global manufacturing locations and over 50 service centers from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com

For more information, click here:

http://ir.chartindustries.com/

Chart Industries Investor Relations Contact:

John Walsh

VP, Investor Relations

1-770-721-8899

john.walsh@chartindustries.com

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Dollars and shares in millions, except per share amounts)

Three Months Ended Nine Months Ended
September 30, 2023 September 30, 2022 June 30, 2023 September 30, 2023 September 30, 2022
Sales $ 897.9 $ 412.1 $ 908.1 $ 2,337.5 $ 1,171.0
Cost of sales 621.7 307.5 627.5 1,631.4 887.9
Gross profit 276.2 104.6 280.6 706.1 283.1
Selling, general, and administrative expenses 122.8 52.3 140.7 356.4 159.3
Amortization expense 49.0 10.6 44.2 115.0 32.4
Operating expenses 171.8 62.9 184.9 471.4 191.7
Operating expense (income) (1) – (4) 104.4 41.7 95.7 234.7 91.4
Acquisition related finance fees — — — 26.1 —
Interest expense, net 85.7 5.7 79.5 190.7 13.3
Financing costs amortization 4.8 0.7 4.4 12.0 2.1
Unrealized loss (gain) on investments in equity securities 5.2 (1.3) 4.6 11.8 10.9
Realized gain on equity method investment — — — — (0.3)
Foreign currency gain (2.9) (2.5) (4.1) (8.1) (2.6)
Other expense (income) 1.1 (0.7) 0.8 2.7 (1.5)
Income (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates, net 10.5 39.8 10.5 (0.5) 69.5
Income tax expense (benefit) 0.1 (1.6) 2.4 (4.2) 4.0
Income from continuing operations before equity in earnings (loss) of unconsolidated affiliates, net 10.4 41.4 8.1 3.7 65.5
Equity in earnings (loss) of unconsolidated affiliates, net 1.3 0.2 1.5 2.4 (0.3)
Net income from continuing operations 11.7 41.6 9.6 6.1 65.2
(Loss) income from discontinued operations, net of tax (6.0) — 2.5 (2.6) —
Net income 5.7 41.6 12.1 3.5 65.2
Less: Income attributable to noncontrolling interests of continuing operations, net of taxes 2.3 0.4 3.0 6.0 0.8
Net income (loss) attributable to Chart Industries, Inc. $ 3.4 $ 41.2 $ 9.1 $ (2.5) $ 64.4
Amounts attributable to Chart common stockholders
--- --- --- --- --- --- --- --- --- --- ---
Income from continuing operations $ 9.4 $ 41.2 $ 6.6 $ 0.1 $ 64.4
Less: Mandatory convertible preferred stock dividend requirement 6.8 — 6.9 20.5 —
Income (loss) from continuing operations attributable to Chart 2.6 41.2 (0.3) (20.4) 64.4
(Loss) income from discontinued operations, net of tax (6.0) — 2.5 (2.6) —
Net (loss) income attributable to Chart common stockholders $ (3.4) $ 41.2 $ 2.2 $ (23.0) $ 64.4
Basic earnings per common share attributable to Chart Industries, Inc.
Income (loss) from continuing operations $ 0.06 $ 1.15 $ (0.01) $ (0.49) $ 1.80
(Loss) income from discontinued operations (0.14) — 0.06 (0.06) —
Net (loss) income attributable to Chart Industries, Inc. $ (0.08) $ 1.15 $ 0.05 $ (0.55) $ 1.80
Diluted earnings per common share attributable to Chart Industries, Inc.
Income (loss) from continuing operations $ 0.05 $ 0.98 $ (0.01) $ (0.49) $ 1.56
(Loss) income from discontinued operations (0.12) — 0.05 (0.06) —
Net (loss) income attributable to Chart Industries, Inc. $ (0.07) $ 0.98 $ 0.04 $ (0.55) $ 1.56
Weighted-average number of common shares outstanding:
Basic 41.98 35.87 41.97 41.96 35.85
Diluted (5) – (6) 47.61 41.86 46.45 41.96 41.40

_______________

(1)Includes depreciation expense of:

•$18.0, $9.6 and $18.7 for the three months ended September 30, 2023, September 30, 2022 and June 30, 2023, respectively, and

•$48.2 and $30.0 for the nine months ended September 30, 2023 and September 30, 2022, respectively.

(2)Includes restructuring charges (credits) of:

•$4.2, $(1.4), and $5.4 for the three months ended September 30, 2023, September 30, 2022 and June 30, 2023, respectively, and

•$11.2 and $(1.1) for the nine months ended September 30, 2023 and September 30, 2022, respectively.

(3)Includes acquisition-related contingent consideration (credits) charges in our Specialty Products segment of:

•$(2.3), $(1.7), and $1.1 for the three months ended September 30, 2023, September 30, 2022 and June 30, 2023, respectively, and

•$(8.8) and $(2.7) for the nine months ended September 30, 2023 and September 30, 2022, respectively.

(4)Includes deal-related and integration costs of:

•$5.9, for the three months ended September 30, 2023 and $6.7 and $11.3 for the three months ended September 30, 2022 and June 30, 2023, respectively, and

•$98.9 and $16.0 for the nine months ended September 30, 2023 and September 30, 2022, respectively.

(5)Includes an additional 5.39 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the three months ended September 30, 2023. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 2.86 for the three months ended September 30, 2023.

(6)Includes an additional 5.71 and 5.29 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the three and nine months ended September 30, 2022, respectively. The associated hedge, which helps offset this dilution, cannot be taken into account under GAAP. If the hedge could have been

considered, it would have reduced the additional shares by 3.01 and 2.82 for the three and nine months ended September 30, 2022, respectively.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in millions)

Three Months Ended Nine Months Ended
September 30, 2023 September 30, 2022 June 30, 2023 September 30, 2023 September 30, 2022
Net Cash (Used In) Provided By Operating Activities $ (22.6) $ 37.8 $ 91.6 $ 36.9 $ 50.3
Investing Activities
Acquisition of businesses, net of cash acquired 17.5 (0.5) — (4,322.3) (25.8)
Proceeds from sale of business 291.9 — — 291.9 —
Capital expenditures (63.6) (18.4) (23.0) (118.0) (48.2)
Investments (6.2) (1.0) (0.5) (8.8) (4.9)
Proceeds from sale of assets 3.6 — (0.1) 3.6 —
Cash received from settlement of cross-currency swap agreements — 5.8 — — 9.4
Government grants and other (0.3) (0.5) (0.4) (1.3) (0.8)
Net Cash Provided By (Used In) Investing Activities 242.9 (14.6) (24.0) (4,154.9) (70.3)
Financing Activities
Borrowings on credit facilities 611.5 70.0 88.0 1,334.3 503.3
Repayments on credit facilities (849.5) (150.0) (339.8) (1,234.3) (511.2)
Borrowings on term loan — — 250.0 1,747.2 —
Repayments on term loan (4.4) — (3.8) (8.2) —
Payments for debt issuance costs (0.1) — (11.9) (133.5) —
Payment of contingent consideration (2.7) — (1.7) (4.4) —
Proceeds from issuance of common stock, net — — — 11.7 —
Proceeds from exercise of stock options 0.7 0.5 0.1 0.9 1.9
Common stock repurchases from share-based compensation plans (0.3) (0.1) (0.1) (3.0) (3.4)
Dividend distribution to noncontrolling interest (3.8) — (8.4) (12.2) —
Dividends paid on mandatory convertible preferred stock (6.8) — (6.8) (20.5) —
Net Cash (Used In) Provided By Financing Activities (255.4) (79.6) (34.4) 1,678.0 (9.4)
Effect of exchange rate changes on cash (2.3) (3.8) (0.3) (0.4) (3.5)
Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents including cash classified within current assets held for sale (37.4) (60.2) 32.9 (2,440.4) (32.9)
Less: net increase in cash classified within current assets held for sale (5.0) — — (5.0) —
Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents (42.4) (60.2) 32.9 (2,445.4) (32.9)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period (1) 202.3 149.7 169.4 2,605.3 122.4
--- --- --- --- --- --- --- --- --- --- ---
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD (1) $ 159.9 $ 89.5 $ 202.3 $ 159.9 $ 89.5

_______________

(1)Includes restricted cash and restricted cash equivalents of $12.8, $12.5 and $1,941.7 as of September 30, 2023, June 30, 2023 and December 31, 2022, respectively and $0.2 as of both March 31, 2022 and December 31, 2021.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in millions)

September 30,<br>2023 December 31,<br>2022
ASSETS
Cash and cash equivalents $ 147.1 $ 663.6
Restricted cash 12.8 1,941.7
Accounts receivable, net 743.7 278.4
Inventories, net 613.3 357.9
Other current assets 662.1 449.3
Property, plant, and equipment, net 807.6 430.0
Goodwill 2,809.3 992.0
Identifiable intangible assets, net 2,812.2 535.3
Equity method investments 119.0 93.0
Investments in equity securities 90.6 96.5
Other assets 125.7 64.2
Assets held for sale 76.8 —
TOTAL ASSETS $ 9,020.2 $ 5,901.9
LIABILITIES AND EQUITY
Current liabilities $ 1,787.1 $ 1,081.6
Long-term debt 3,799.9 2,039.8
Other long-term liabilities 660.0 96.2
Liabilities held for sale 15.7 —
Equity 2,757.5 2,684.3
TOTAL LIABILITIES AND EQUITY $ 9,020.2 $ 5,901.9

CHART INDUSTRIES, INC. AND SUBSIDIARIES

OPERATING SEGMENTS (UNAUDITED)

(Dollars in millions)

Three Months Ended Nine Months Ended
September 30, 2023 September 30, 2022 June 30, 2023 September 30, 2023 September 30, 2022
Sales
Cryo Tank Solutions $ 159.0 $ 126.9 $ 152.7 $ 435.2 $ 377.9
Heat Transfer Systems 232.5 132.1 236.0 636.0 314.3
Specialty Products 240.0 108.1 236.7 602.9 330.9
Repair, Service & Leasing 271.3 49.7 298.7 688.5 154.4
Intersegment eliminations (4.9) (4.7) (16.0) (25.1) (6.5)
Consolidated $ 897.9 $ 412.1 $ 908.1 $ 2,337.5 $ 1,171.0
Gross Profit
Cryo Tank Solutions $ 35.2 $ 22.8 $ 28.8 $ 85.5 $ 69.8
Heat Transfer Systems 61.5 28.5 67.3 170.1 53.4
Specialty Products 62.0 34.2 61.0 158.9 106.2
Repair, Service & Leasing 117.5 19.1 123.5 291.6 53.7
Consolidated $ 276.2 $ 104.6 $ 280.6 $ 706.1 $ 283.1
Gross Profit Margin
Cryo Tank Solutions 22.1 % 18.0 % 18.9 % 19.6 % 18.5 %
Heat Transfer Systems 26.5 % 21.6 % 28.5 % 26.7 % 17.0 %
Specialty Products 25.8 % 31.6 % 25.8 % 26.4 % 32.1 %
Repair, Service & Leasing 43.3 % 38.4 % 41.3 % 42.4 % 34.8 %
Consolidated 30.8 % 25.4 % 30.9 % 30.2 % 24.2 %
Operating Income (Loss)
Cryo Tank Solutions $ 17.1 $ 12.2 $ 10.5 $ 31.9 $ 36.2
Heat Transfer Systems 43.4 18.3 49.8 120.5 23.8
Specialty Products 33.7 16.7 29.1 84.6 53.7
Repair, Service & Leasing 42.3 12.0 45.6 121.0 32.3
Corporate (32.1) (17.5) (39.3) (123.3) (54.6)
Consolidated (1) – (6) $ 104.4 $ 41.7 $ 95.7 $ 234.7 $ 91.4
Operating Margin (Loss)
Cryo Tank Solutions 10.8 % 9.6 % 6.9 % 7.3 % 9.6 %
Heat Transfer Systems 18.7 % 13.9 % 21.1 % 18.9 % 7.6 %
Specialty Products 14.0 % 15.4 % 12.3 % 14.0 % 16.2 %
Repair, Service & Leasing 15.6 % 24.1 % 15.3 % 17.6 % 20.9 %
Consolidated 11.6 % 10.1 % 10.5 % 10.0 % 7.8 %

_______________

(1)Restructuring costs (credits) for the three months ended:

•September 30, 2023 were $4.2 ($2.3 - Corporate, $0.9 - Repair, Service & Leasing, $0.5 - Heat Transfer Systems, $0.4 - Specialty Products and $0.1 - Cryo Tank Solutions).

•September 30, 2022 were $(1.4) ($(1.3) - Repair, Service & Leasing and $(0.1) - Specialty Products).

•June 30, 2023 were $5.4 ($3.7 - Corporate, $0.7 - Repair, Service & Leasing, $0.5 - Specialty Products, $0.3 - Cryo Tank Solutions and $0.2 - Heat Transfer Systems).

(2)Restructuring costs (credits) for the nine months ended:

•September 30, 2023 were $11.2 ($6.0 - Corporate, $2.4 Repair, Service and Leasing, $1.2 - Cryo Tank Solutions, $0.9 - Specialty Products and $0.7 - Heat Transfer Systems).

•September 30, 2022 were $(1.1) ($(1.3) - Repair, Service & Leasing, $0.1 - Cryo Tank Solutions and $0.1 - Heat Transfer Systems).

(3)Acquisition-related contingent consideration adjustments in our Specialty Products segment for the three months ended:

•September 30, 2023 were an decrease in fair value of $2.3.

•September 30, 2022 were a decrease in fair value of $1.7.

•June 30, 2023 were a decrease in fair value of $1.1.

(4)Acquisition-related contingent consideration adjustments in our Specialty Products segment for the nine months ended:

•September 30, 2023 were a decrease in fair value of $8.8.

•September 30, 2022 were a decrease in fair value of $2.7.

(5)Deal-related and integration costs for the three months ended:

•September 30, 2023 were $5.9.

•September 30, 2022 were $6.7.

•June 30, 2023 were $11.3.

(6)Deal-related and integration costs for the nine months ended:

•September 30, 2023 were $98.9.

•September 30, 2022 were $16.0.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

ORDERS AND BACKLOG (UNAUDITED)

(Dollars in millions)

Three Months Ended
September 30,<br>2023 September 30,<br>2022 June 30,<br>2023
Orders
Cryo Tank Solutions $ 155.6 $ 120.2 $ 155.0
Heat Transfer Systems 176.1 357.7 302.2
Specialty Products 469.1 202.9 293.2
Repair, Service & Leasing 331.2 61.7 319.7
Intersegment eliminations (4.7) (13.1) (7.0)
Consolidated $ 1,127.3 $ 729.4 $ 1,063.1 As of
--- --- --- --- --- --- ---
September 30,<br>2023 September 30,<br>2022 June 30,<br>2023
Backlog
Cryo Tank Solutions $ 449.4 $ 355.2 $ 452.7
Heat Transfer Systems 1,657.5 1,225.4 1,708.9
Specialty Products 1,460.7 666.1 1,259.6
Repair, Service & Leasing 609.7 41.6 580.7
Intersegment eliminations (36.6) (34.2) (37.0)
Consolidated $ 4,140.7 $ 2,254.1 $ 3,964.9

CHART INDUSTRIES, INC. AND SUBSIDIARIES

RECONCILIATION OF EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHART INDUSTRIES, INC.– CONTINUING OPERATIONS TO ADJUSTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHART INDUSTRIES, INC. (UNAUDITED)

(Dollars in millions, except per share amounts)

Q3 2023 Diluted EPS Q2 2023 Diluted EPS YTD September 2023 Diluted EPS
Amounts attributable to Chart common stockholders
Income (loss) from continuing operations $ 9.4 $ 6.6 $ 0.1
Less: Mandatory convertible preferred stock dividend requirement 6.8 6.9 20.5
Reported income (loss) from continuing operations attributable to Chart (U.S. GAAP) 2.6 (0.3) (20.4)
Earnings per common share attributable to Chart Industries, Inc. – continuing operations $ 0.05 $ (0.01) $ (0.49)
Investment equities mark-to-market (1) 0.11 0.10 0.26
Debt and financing costs — — 1.28
Mandatory convertible preferred stock dividend 0.15 0.15 0.49
Deal related and integration costs (2) 0.12 0.16 0.83
Howden amortization 1.00 0.99 2.25
Startup costs – organic — — 0.03
Restructuring & related costs (3) 0.10 0.13 0.26
Other one-time items — — 0.01
Tax effects (0.25) (0.33) (1.08)
Adjusted earnings per common share attributable to Chart Industries, Inc. (non-GAAP) $ 1.28 $ 1.19 $ 3.84
Share Count 47.61 46.45 41.96

_____________

(1) Includes the mark-to-market of our inorganic investments in McPhy, Stabilis and other minority investments.

(2) Includes third party support fees for both the three months ended September 30, 2023 and June 30, 2023.

(3) Includes restructuring-related costs of $4.7 and $5.4 for the three months ended September 30, 2023 and June 30, 2023, respectively.

_____________

Adjusted earnings per common share attributable to Chart Industries, Inc. is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to earnings per share in accordance with U.S. GAAP. Management believes that adjusted earnings per common share attributable to Chart Industries, Inc. facilitate useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of these non-GAAP measures may not be comparable to the calculations of similarly titled measures reported by other companies.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CHART INDUSTRIES, INC. TO NET INCOME, ADJUSTED (UNAUDITED)

(Dollars in millions)

Three Months Ended Nine Months Ended
September 30,<br>2023 September 30,<br>2022 September 30,<br>2023 September 30,<br>2022
Net income (loss) attributable to Chart Industries, Inc. (U.S. GAAP) $ 3.4 $ 41.2 $ (2.5) $ 64.4
Income attributable to noncontrolling interests of continuing operations, net of taxes (U.S. GAAP) 2.3 0.4 6.0 0.8
Net income (U.S. GAAP) 5.7 41.6 3.5 65.2
Financing costs amortization 4.8 0.7 12.0 2.1
Unrealized foreign currency transaction loss (gain) 1.3 0.1 0.5 (4.2)
Employee share-based compensation expense 2.6 2.3 9.2 7.9
Unrealized loss (gain) on investment in equity securities 5.2 (1.3) 11.8 10.9
Realized gain on equity method investment — — — (0.3)
Equity in (earnings) loss of unconsolidated affiliates, net (1.2) (0.3) (2.4) 0.3
Other non-cash operating activities (6.3) 2.3 (4.9) 3.4
Net income adjusted (non-GAAP) $ 12.1 $ 45.4 $ 29.7 $ 85.3

_______________

Net income adjusted is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that net income adjusted, facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies.

RECONCILIATION OF NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW AND ADJUSTED FREE CASH FLOW (UNAUDITED)

(Dollars in millions)

Three Months Ended Nine Months Ended
September 30,<br>2023 September 30,<br>2022 September 30,<br>2023 September 30,<br>2022
Net cash (used in) provided by operating activities – consolidated (U.S. GAAP) $ (22.6) $ 37.8 $ 36.9 $ 50.3
Capital expenditures – consolidated (63.6) (18.4) (118.0) (48.2)
Free cash flow – consolidated (non-GAAP) $ (86.2) $ 19.4 $ (81.1) $ 2.1 Three Months Ended Nine Months Ended
--- --- --- --- --- --- --- --- ---
September 30,<br>2023 September 30,<br>2022 September 30,<br>2023 September 30,<br>2022
Net cash provided by operating activities – discontinued operations (U.S. GAAP) $ 9.4 $ — $ 3.9 $ —
Capital expenditures – discontinued operations (0.5) — (2.6) —
Free cash flow – discontinued operations (non-GAAP) $ 8.9 $ — $ 1.3 $ —

_______________

Free cash flow is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash (used in) provided by operating activities in accordance with U.S. GAAP. Management believes that free cash flow facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

RECONCILIATIONS OF GROSS PROFIT TO ADJUSTED GROSS PROFIT AND OPERATING INCOME (LOSS) TO ADJUSTED OPERATING INCOME (LOSS) (UNAUDITED)

(Dollars in millions)

Three Months Ended September 30, 2023
Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate Consolidated
Sales $ 159.0 $ 232.5 $ 240.0 $ 271.3 $ (4.9) $ — $ 897.9
Gross profit as reported (U.S. GAAP) 35.2 61.5 62.0 117.5 — — 276.2
Restructuring, transaction-related and other one-time costs 1.9 0.8 1.8 4.8 — — 9.3
Adjusted gross profit (non-GAAP) $ 37.1 $ 62.3 $ 63.8 $ 122.3 $ — $ — $ 285.5
Adjusted gross profit margin (non-GAAP) 23.3 % 26.8 % 26.6 % 45.1 % — % — % 31.8 %
Operating income (loss) as reported (U.S. GAAP) $ 17.1 $ 43.4 $ 33.7 $ 42.3 $ — $ (32.1) 104.4
Restructuring, transaction-related and other one-time costs 3.0 2.3 5.9 39.7 — 6.1 57.0
Adjusted operating income (loss) (non-GAAP) $ 20.1 $ 45.7 $ 39.6 $ 82.0 $ — $ (26.0) $ 161.4
Adjusted operating margin (non-GAAP) 12.6 % 19.7 % 16.5 % 30.2 % — % — % 18.0 %
Three Months Ended September 30, 2022
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate Consolidated
Sales $ 126.9 $ 132.1 $ 108.1 $ 49.7 $ (4.7) $ — $ 412.1
Gross profit as reported (U.S. GAAP) 22.8 28.5 34.2 19.1 — — 104.6
Restructuring related, deal-related, integration and other one time costs 1.6 2.8 4.3 (0.7) — — 8.0
Adjusted gross profit (non-GAAP) $ 24.4 $ 31.3 $ 38.5 $ 18.4 $ — $ — $ 112.6
Adjusted gross profit margin (non-GAAP) 19.2 % 23.7 % 35.6 % 37.0 % — % — % 27.3 %
Operating income (loss) as reported (U.S. GAAP) $ 12.2 $ 18.3 $ 16.7 $ 12.0 $ — $ (17.5) 41.7
Restructuring related, deal-related, integration and other one time costs 1.6 3.0 4.6 (0.6) — 1.6 10.2
Adjusted operating income (loss) (non-GAAP) $ 13.8 $ 21.3 $ 21.3 $ 11.4 $ — $ (15.9) $ 51.9
Adjusted operating margin (non-GAAP) 10.9 % 16.1 % 19.7 % 22.9 % — % — % 12.6 %

CHART INDUSTRIES, INC. AND SUBSIDIARIES

RECONCILIATIONS OF GROSS PROFIT TO ADJUSTED GROSS PROFIT AND OPERATING INCOME (LOSS) TO ADJUSTED OPERATING INCOME (LOSS) (UNAUDITED) (CONTINUED)

(Dollars in millions)

Three Months Ended June 30, 2023
Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate Consolidated
Sales $ 152.7 $ 236.0 $ 236.7 $ 298.7 $ (16.0) $ — $ 908.1
Gross profit as reported (U.S. GAAP) 28.8 67.3 61.0 123.5 — — 280.6
Restructuring, transaction-related and other one-time costs 4.1 0.6 2.8 6.6 — — 14.1
Adjusted gross profit (non-GAAP) $ 32.9 $ 67.9 $ 63.8 $ 130.1 $ — $ — $ 294.7
Adjusted gross profit margin (non-GAAP) 21.5 % 28.8 % 27.0 % 43.6 % — % — % 32.5 %
Operating income (loss) as reported (U.S. GAAP) $ 10.5 $ 49.8 $ 29.1 $ 45.6 $ — $ (39.3) 95.7
Restructuring, transaction-related and other one-time costs 2.7 0.8 3.4 44.5 — 7.3 58.7
Adjusted operating income (loss) (non-GAAP) $ 13.2 $ 50.6 $ 32.5 $ 90.1 $ — $ (32.0) $ 154.4
Adjusted operating margin (non-GAAP) 8.6 % 21.4 % 13.7 % 30.2 % — % — % 17.0 %

_______________

Adjusted gross profit and adjusted operating income (loss) are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to gross profit and operating income (loss) in accordance with U.S. GAAP. Management believes that adjusted gross profit and adjusted operating income (loss) facilitate useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of these non-GAAP measures may not be comparable to the calculations of similarly titled measures reported by other companies.

23

earningsslides_09-30x202

Chart Industries, Inc. Third Quarter 2023 Earnings Call October 27, 2023

GTLS: GAS TO LIQUID SYSTEMS® Forward Looking Statements (1/2) CERTAIN STATEMENTS MADE IN THIS INVESTOR PRESENTATION ARE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING CHART’S BUSINESS PLANS, INCLUDING STATEMENTS REGARDING OBJECTIVES, FUTURE ORDERS, REVENUES, MARGINS, EARNINGS, PERFORMANCE OR OUTLOOK, BUSINESS OR INDUSTRY TRENDS AND OTHER INFORMATION THAT IS NOT HISTORICAL IN NATURE. FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY TERMINOLOGY SUCH AS “MAY,” “WILL,” “SHOULD,” “COULD,” “EXPECTS,” “ANTICIPATES,” “BELIEVES,” “PROJECTS,” “FORECASTS,” “INDICATORS”, “OUTLOOK,” “GUIDANCE,” “CONTINUE,” “TARGET,” OR THE NEGATIVE OF SUCH TERMS OR COMPARABLE TERMINOLOGY. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESENTATION OR IN OTHER STATEMENTS MADE BY CHART ARE MADE BASED ON MANAGEMENT’S EXPECTATIONS AND BELIEFS CONCERNING FUTURE EVENTS IMPACTING CHART AND ARE SUBJECT TO UNCERTAINTIES AND FACTORS RELATING TO CHART’S OPERATIONS AND BUSINESS ENVIRONMENT, ALL OF WHICH ARE DIFFICULT TO PREDICT AND MANY OF WHICH ARE BEYOND CHART’S CONTROL, THAT COULD CAUSE CHART’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE MATTERS EXPRESSED OR IMPLIED BY FORWARD-LOOKING STATEMENTS. FACTORS THAT COULD CAUSE CHART’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS INCLUDE: CHART MAY BE UNABLE TO ACHIEVE THE ANTICIPATED BENEFITS OF THE ACQUISITION OF HOWDEN (THE “ACQUISIT ION”) ( INCLUDING WITH RESPECT TO ESTIMATED FUTURE COST AND COMMERCIAL SYNERGIES); REVENUES FOLLOWING THE ACQUISIT ION MAY BE LOWER THAN EXPECTED; OPERATING COSTS, CUSTOMER LOSSES, AND BUSINESS DISRUPTION ( INCLUDING, WITHOUT LIMITATION, DIFFICULTIES IN MAINTAINING RELATIONSHIPS WITH EMPLOYEES, CUSTOMERS AND SUPPLIERS) RESULTING FROM THE ACQUISIT ION MAY BE GREATER THAN EXPECTED; OUR ABILITY TO SUCCESSFULLY CLOSE ON PLANNED DIVESTITURES AND ACHIEVE THE ANTICIPATED PROCEEDS FROM THOSE DIVESTITURES; SLOWER THAN ANTICIPATED GROWTH AND MARKET ACCEPTANCE OF NEW CLEAN ENERGY PRODUCT OFFERINGS; INABILITY TO ACHIEVE EXPECTED PRICING INCREASES OR CONTINUED SUPPLY CHAIN CHALLENGES INCLUDING VOLATILITY IN RAW MATERIALS AND SUPPLY; RISKS RELATING TO REGIONAL CONFLICTS AND UNREST, INCLUDING THE RECENT UNREST IN THE MIDDLE EAST AND THE CONFLICT BETWEEN RUSSIA AND UKRAINE, INCLUDING POTENTIAL ENERGY SHORTAGES IN EUROPE AND ELSEWHERE AND THE OTHER FACTORS DISCUSSED IN ITEM 1A (RISK FACTORS) IN CHART’S MOST RECENT ANNUAL REPORT ON FORM 10-K FILED WITH THE SEC, WHICH SHOULD BE REVIEWED CAREFULLY. CHART UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT. 2

GTLS: GAS TO LIQUID SYSTEMS® Forward Looking Statements (2/2) 3 THIS PRESENTATION CONTAINS NON-GAAP FINANCIAL INFORMATION, INCLUDING ADJUSTED NON-DILUTED EPS, NORMALIZED BASIC EPS, “NET INCOME, ADJUSTED”, FREE CASH FLOW, AD JUSTED FREE CASH FLOW, EBITDA, ADJUSTED EBITDA, ADJUSTED OPERATING INCOME, AND ADJUSTED OPERATING MARGIN . FOR ADDITIONAL INFORMATION REGARDING THE COMPANY'S USE OF NON-GAAP FINANCIAL INFORMATION, AS WELL AS RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES CALC ULATED AND PRESENTED IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STAT ES ("GAAP"), PLEASE SEE THE RECONCILIATION SLIDES TITLED “THIRD QUARTER 2023 EARNINGS PER SH ARE,” “THIRD QUARTER 2023 ADJUSTED EBITDA” AND “THIRD QUARTER 2023 FREE CASH FLOW” INCLUDED IN, OR IN TH E APPENDIX AT THE END OF, THIS PRESENTATION. PLEASE SEE THE RECONCILIATION TABLE AT THE END OF THE ACCOMPANYING EARNINGS RELEASE FOR THE “THIRD QUARTER ADJUSTED GROSS MARGIN,” “ADJUSTED GROSS PROFIT” AND “ADJUSTED OPERATING INCOME” RECONCILIATIONS, AS WELL AS A RECONCILIATION AND ADDITIONAL DETAILS ON ADJUSTED NON-DILUTED EPS AND ADJUSTED FREE CASH FLOW. WITH RESPECT TO THE COMPANY’S 2023 AND 2024 FULL YEAR EARNINGS OUTLOOK. THE COMPANY IS NOT ABLE TO PROVIDE A RECONCILIATION OF THE ADJUS TED EBITDA AND ADJUSTED FREE CASH FLOW OUTLOOKS BECAUSE CERTAIN ITEMS MAY HAVE NOT YET OCCURRED OR ARE OUT OF THE COMPANY’S CONTROL AND/OR CANNOT BE REASONABLY PREDICTED. CHART INDUSTRIES, INC. IS A LEADING INDEPENDENT GLOBAL LEADER IN THE DESIGN, ENGINEERING, AND MANUFACTURING OF PROCESS TECHNOLOGIES AND EQUIPMENT FOR GAS AND LIQUID MOLECULE HANDING FOR THE NEXUS OF CLEAN™ - CLEAN POWER, CLEAN WATER, CLEAN FOOD, AND CLEAN INDUSTRIALS, REGARDLESS OF MOLECULE. THE COMPANY’S UNIQUE PRODUCT AND SOLUTION PORTFOLIO ACROSS STATIONARY AND ROTATING EQUIPMENT IS USED IN EVERY PHASE OF THE LIQUID GAS SUPPLY CHAIN, INCLUDING ENGINEERING, SERVICE AND REPAIR FROM INSTALLATION TO PREVENTIVE MAINTENANCE AND DIGITAL MONITORING. CHART IS A LEADING PROVIDER OF TECHNOLOGY, EQUIPMENT AND SERVICES RELATED TO LIQUEFIED NATURAL GAS, HYDROGEN, BIOGAS AND CO2 CAPTURE AMONGST OTHER APPLICATIONS. CHART IS COMMITTED TO EXCELLENCE IN ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE (ESG) ISSUES BOTH FOR ITS COMPANY AS WELL AS ITS CUSTOMERS. WITH OVER 48 GLOBAL MANUFACTURING LOCATIONS AND 41 SERVICE CENTERS FROM THE UNITED STATES TO ASIA, AUSTRALIA, INDIA, EUROPE AND SOUTH AMERICA, THE COMPANY MAINTAINS ACCOUNTABILITY AND TRANSPARENCY TO ITS TEAM MEMBERS, SUPPLIERS, CUSTOMERS AND COMMUNITIES. TO LEARN MORE, VISIT WWW.CHARTINDUSTRIES.COM

GTLS: GAS TO LIQUID SYSTEMS® 4© 2023 Chart Industries, Inc. Confidential and Proprietary Agenda Howden Synergy Achievements Key Takeaways Record Q3 2023 Results & Continued Strong Demand Progress on Deleveraging 2023 and 2024 Outlook

GTLS: GAS TO LIQUID SYSTEMS® Q3 2023 Key Takeaways 5© 2023 Chart Industries, Inc. Confidential and Proprietary • Accelerating deleveraging actions including achieving ~$500 million in divestiture proceeds by October 31, 2023 • Signed / closed on the sale of American Fans to Arcline (October 26, 2023) for $111M all-cash (multiples in-line with prior Chart transactions) • Expect to close on the sale of Cofimco to PX3 Partners for $80M all-cash on October 31, 2023 (earlier than originally anticipated) • Net leverage ratio of 3.59; proforma 9/30/2023 of 3.47 adjusting for the Cofimco, Cryo Diffusion and American Fans divestitures • Expect to reach net leverage ratio of 2.5-2.9X by midyear 2024 (vs. originally anticipate year-end 2024 target) • Exceeded year-one commercial synergy target seven months into ownership; on-track to achieve or exceed cost synergies • Achieved $297.9 million in commercial synergy awards, exceeding our year-one target of $150 million • Achieved $135.6 million in cost synergies, on-track to achieve or exceed year-one cost synergy target of $175 million • Strong Q3 2023 operational results compared both sequentially to Q2 2023 and year-over-year Q3 2022 (proforma for combined) • Sales increased 9.8% (compared to Q3 2022 proforma for the combined business) • Reported gross margin of 30.8% and adjusted gross margin of 31.8%, our second sequential quarter above 30% (expected to continue) • Reported EBITDA of $169.3 million and adjusted EBITDA of $195.0 million (increase of 38.0% vs. Q3 2022 proforma) • Reported EBITDA margin of 18.9% (+130 bps vs. Q2 2023); adjusted EBITDA margin of 21.7% (+440 bps vs. proforma Q3 2022) • Record backlog of $4.1 billion supports our 2024 outlook; broad-based end market demand across all segments, geographies as well as new build and aftermarket, service and repair • Q3 2023 book-to-bill was 1.26 and RSL book-to-bill was 1.22 • Q3 2023 record orders of $1.13 billion and ending record backlog of $4.1 billion (with no Big LNG projects booked in Q3 2023) • No lost revenue (timing shifts due to supplier delivery and customer timing); 0.19% of backlog cancellation since the close of the Howden acquisition and significantly less than 1% historically in the combined and standalone businesses • 2023 and 2024 outlook • Updating 2023 guidance to reflect earlier than expected divestiture impact and supply chain delivery timing; EPS remains within the range • Reiterating 2024 adjusted EBITDA of ~$1.3 billion despite divestitures; initiating sales, adjusted EPS, and formal FCF guidance

GTLS: GAS TO LIQUID SYSTEMS® Executed to Date On-Schedule and to Targets (1/2) As previously shared 6 # Action What we said in November 2022 As of October 27, 2023 Status 1 Financing Did not expect to close into the bridge and would seek to limit amount of KPS Capital Partners (KPS) preferred stock Completed financing in December 2022; Closed without the bridge or any preferred issuance to KPS Completed, Oversubscribed No KPS preferred Options for balance sheet optimization 2 Weighted avg cost of debt 7% to 8.5% Actual well within the range Completed 3 Expected closing First half 2023 Q1 2023, actual Completed; One quarter early 4 Customer demand Strong demand in most end markets in both businesses Strong demand in most end markets in both businesses Unchanged from original 5 Backlog supporting 2023 More of next (2023) year’s forecasted revenue already booked than typical More of next (2023) year’s forecasted revenue already booked than typical Completed and unchanged from original 6 Balance sheet optimization We would optimize our balance sheet through various activities Multiple balance sheet and capital structure activities completed with ongoing evaluation of advantageous options Underway and progressing on schedule 7 Other cash to accelerate debt paydown N/A Real estate sales, insurance settlement, cash repatriation Properties sold, cash repatriated, w/cap settlement agreed and received

GTLS: GAS TO LIQUID SYSTEMS® Executed to Date On-Schedule and to Targets (2/2) Q3 2023 Updates 7 # Action What we said in November 2022 As of October 27, 2023 Status 9 Divestitures Working to complete shortly after the close of Howden with anticipated potential proceeds of ~$500 million Completed divestiture of Roots™ business to Ingersoll Rand for ~$300 million all-cash Executed definitive agreement to sell Cofimco business to PX3 for $80 million all-cash Signed and closed sale of American Fans to Arcline Investment Management • $300 million cash proceeds from Roots received in August 2023 • $111 million cash proceeds from American Fans sales received October 26, 2023 • Cryo Diffusion sale close and funding expected in October 2023 (4.25M euro) • ~$80 million proceeds from Cofimco sale expected October 31, 2023 • Total cash proceeds from divestitures executed of ~$496 million 10 Commercial synergies, year one $150 million $296.5 million achieved to date, with size, breadth of synergy projects and customer inbounds increasing • Exceed year-one commercial synergy target by ~100%, seven months into integration • Over $1.3 billion of synergy commercial opportunities in pipeline across energy, hydrogen, water treatment, CCUS, etc. 11 Balance sheet optimization We would optimize our balance sheet through various activities Have completed numerous balance sheet activities, including Term Loan B repricing in Sept. 2023, and other instruments for Letters of Credit that do not use Revolving Credit Facility (RCF) capacity • Looking ahead, we expect to close on the sale of two properties in the fourth quarter 2023, resulting in approximately $4.75 million of additional cash • We continue to evaluate and act on opportunities to optimize our cash and available liquidity

GTLS: GAS TO LIQUID SYSTEMS® 8© 2023 Chart Industries, Inc. Confidential and Proprietary Agenda Howden Synergy Achievements Key Takeaways Record Q3 2023 Results & Continued Strong Demand Progress on Deleveraging 2023 and 2024 Outlook

GTLS: GAS TO LIQUID SYSTEMS® All Figures Presented are Continuing Operations Unless otherwise noted 9 • Our third quarter 2023 results from continuing operations exclude the Roots™ financial results for our entire ownership period (Roots™ is in discontinued operations) • The Roots™ business was sold to Ingersoll Rand for $300 million, all cash (a low-teens EBITDA multiple) and closed on August 18, 2023 • We signed a definitive agreement on July 26, 2023 to sell our Cofimco fans business to PX3 Partners for an $80 million purchase price (multiples in-line with prior Chart transactions). The transaction is anticipated to close on October 31, 2023; for the third quarter 2023 and year-to-date through September 30, 2023, Cofimco is treated as an asset held for sale and is not included in our 2023 or 2024 outlook • We signed and closed on the divestiture of our American Fans business for $111 million all-cash to Arcline Investment Management, L.P. on October 26, 2023 (multiples in-line with prior Chart transactions). Effective as of October 26, 2023, the business is no longer part of Chart nor included in our 2023 or 2024 outlook • The sale of Cryo Diffusion for 4.25 million euros will close and fund on October 31, 2023, and the business is not included in our 2023 or 2024 outlook

GTLS: GAS TO LIQUID SYSTEMS® Third Quarter 2023 Results 10 Q3 2023 Comments • Record backlog • Record orders (ex BigLNG) • Book to bill of 1.26 • RSL book to bill of 1.22 • No lost sales; timing shifts support 2024 outlook • All quarters since we closed Howden acquisition have had reported and adjusted gross margin over 30% • All quarters since we closed Howden acquisition have had adjusted EBITDA margin over 21.5% • Over 99% of adjustments relate to Howden deal and integration related costs $ millions, except per share amounts Q3 2023 Q2 2023 Change Q3 2022 PF Change Continuing Operations 1 Orders 1,127.3 1,063.1 +6.0% 1,202.9 -6.3% excluding Big LNG1 ~30% ~2% 2 Book-to-Bill (Total) 1.26 1.17 1.47 3 Backlog 4,140.7 3,964.9 +4.4% 4 Sales 897.9 908.1 -1.1% 817.8 +9.8% 5 Reported GM % 30.8% 30.9% -10 bps 28.4% +240 bps 6 Adjusted GM% 31.8% 32.5% -70 bps 7 Reported EBITDA 169.3 158.8 +6.6% 125.9 +34.5% 8 Reported EBITDA % of Sales 18.9% 17.5% +130 bps 15.4% +350bps 9 Adjusted EBITDA 195.0 195.3 141.3 +38.0% 10 Adjusted EBITDA % of Sales 21.7% 21.5% +20 bps 17.3% +440 bps 11 Reported Diluted EPS $0.05 -$0.01 n/a 12 Adjusted Diluted EPS $1.28 $1.19 +7.6% n/a 13 Adjusted Free Cash Flow 86.3 86.6 n/a (1) Excludes Big LNG orders of approximately $200 million in Q2 2023 and approximately $90 million in Q3 2022. (2) Adjusted gross margin, EBITDA, Adjusted EBITDA, Free cash flow, Adjusted Free Cash Flow and Adjusted EPS are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income (in the case of EBITDA and Adjusted EBITDA) in accordance with U.S. GAAP. A reconciliation table for these measures in provided in the appendix under “Third Quarter 2023 Adjusted EBITDA” and in the tables accompanying the earnings release.

GTLS: GAS TO LIQUID SYSTEMS® © 2022 Chart Industries, Inc. Confidential and Proprietary 11 Q3 2023 Sales and Gross Margin Trends GTLS Standalone Metrics Chart + Howden ex Roots Metrics for ownership period Q3 2023 gross margin impact items not added back or adjusted totaled ~$3.7M • Theodore, AL expansion timing = $2.5M • FOAK equipment sold at lower GM% = $1.2M (1) Adjusted gross margin is not a measure of financial performance under U.S. GAAP. A reconciliation table is provided n the appendix under “Third Quarter 2023 Adjusted Gross Margin” and in the tables accompanying the earnings release. $312 $289 $322 $328 $379 $354 $405 $412 $441 $532 $908 $898 28.1% 29.1% 25.8% 22.8% 21.7% 23.6% 23.4% 25.4% 28.2% 28.1% 30.9% 30.8% 28.7% 29.9% 29.0% 26.5% 24.2% 26.1% 25.3% 27.3% 29.9% 28.5% 32.5% 31.8% Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Sales ($M) Gross Margin % Adj Gross Margin %

GTLS: GAS TO LIQUID SYSTEMS® Chart + Howden ex Roots Metrics for ownership period $289 $322 $328 $379 $354 $405 $412 $441 $532 $908 $898 17.1% 9.8% 13.6% 10.6% 10.4% 10.8% 16.2% 23.1% 12.4% 17.5% 18.9%19.0% 18.7% 15.3% 15.3% 15.5% 16.2% 18.9% 22.1% 18.9% 21.5% 21.7% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Sales ($M) EBITDA % Adj EBITDA % Q3 2023 Sales and EBITDA Trends 12 GTLS Standalone Metrics (1) EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that EBITDA and Adjusted EBITDA facilitate useful period-to-period comparisons of financial results and the information is used by us in evaluating our internal performance.

GTLS: GAS TO LIQUID SYSTEMS® Supply Chain Costs Close to “Back to Normal” Deliveries continue to be late with long lead times 13Sources: LME (Aluminum), MEPS (Carbon and Stainless Steel), Freightos

GTLS: GAS TO LIQUID SYSTEMS® Third Quarter 2023 Noteworthy Results 14 • Safety total recordable incident rate (TRIR) of 0.52 (September 30, 2023) improved from 0.57 (June 30, 2023) • Lost time incident rate (LTIR) of 0.20 is the lowest in our history • 70% of our sites are accident free for more than one year • Chart Changzhou, China has 3.26 million hours accident-free (benchmark is 1M hours for heavy industrial) • Two of our Chart China personnel have been appointed as safety experts at the Changzhou city level • Achieved and renewed over 25 global certifications across all of our geographies, including: • GOFA trailer site received approval from the German army for use of tank containers with hazardous goods as stationary tanks • Following successful re-certification by the British Standards Institute across all South Africa sites for ISO 9001, 14001 and 450001, for the first time achieved ISO 50001 certification (Energy Management System) • Chart China successfully completed the factory audit for KGS certificate with no findings • Chart China passed the supervision and audit certification EN15085 (welding system of bullet train system) • Howden Singapore certified ISO 14001 and 45001 for the first time

GTLS: GAS TO LIQUID SYSTEMS® Third Quarter 2023 RSL Noteworthy Results 15 • Q3 2023 RSL backlog is a record at $609.7M, an increase of 35%+ compared to Q3 2022 (proforma combined business) • RSL Q3 2023 book-to-bill of 1.22 • RSL orders increased more than 20% when compared to Q3 2022 (proforma) • YTD Q3 2023 RSL sales increased 15.5% for the same period comparison YTD Q3 2022 (proforma) • RSL gross profit as a percent of sales increased to 43.3%, a sequential increase of 200 bps compared to Q2 2023 • Over 50,000 Chart legacy installed base assets are now in the Howden digital aftermarket system • Increased our number of active LTSAs and Framework agreements by 9.2% since 12/31/2022 • Howden’s Digital Uptime is being applied to 51 active LNG refueling stations across 15 customers (from Chart legacy customers); 9 have already been connected across 4 sites, with remaining coming online in the coming months $millions Sequential Sales Q2 2023 Reported Sales (Repair, Service, Leasing) $298.7 Lower Q3 power market (USA) activity which will reverse in Q4 due to supplier delivery and customer outage timing (11.5) Less EU heater element pack timing with customer summer shutdown timings (13.8) S. Africa retrofit contract in backlog delivery timing moved to Q4 2023 (2.1) Q3 2023 Reported Sales (Repair, Service, Leasing) 271.3 Repair, Service and Leasing (RSL) continues to be strong and gain synergy momentum

GTLS: GAS TO LIQUID SYSTEMS® Third Quarter 2023 Noteworthy Results by Region 16 • America region delivered solid and consistent performance across sites • Broad end market demand remains very strong with a 70% sequential increase in non-BigLNG orders compared to Q2 2023 • EBITDA margin of 25%, an increase of 500 basis points from the beginning of the year • Delivered strong growth for Aftermarket sales with Q3 2023 Revenue up high teens compared to Q3 2022 and EBITDA up more than 30% • Europe region results demonstrate focused execution; order and sales growth expected to continue sequentially • Q3 2023 aftermarket, service and repair bookings increased mid-to-high single digits compared to Q3 2022 • Q3 2023 sales were up high teens compared to Q3 2022 • Increasing interest in LNG equipment (especially with winter season ahead) and field service synergy opportunities • Middle East and Africa region continues strong performance • Q3 2023 orders were greater than 150% higher than Q3 2022 • Q3 2023 year-to-date orders were greater than 100% higher than Q3 2022 year-to-date • Q3 2023 EBITDA increased more than 35% compared to Q3 2022 EBITDA • APAC and India delivered record bookings in the third quarter 2023 and continues with excellent cash conversion • Q3 2023 new build orders in Australia specifically were $38 million, +190% from Q3 2022 • Q3 2023 operating cash as a percentage of EBITDA for the region was greater than 200% • Increasingly leveraging our India resources, specifically engineering and manufacturing for regional support • China region EBITDA margin increased approximately 100 basis points from Q3 2022 • Anticipate China orders to increase 15% to 20% in the second half 2023 compared to the first half 2023 • Expect an increase for China orders in 2024 of ~20% • Increasing activity in the China region for hydrogen tanks from global customers

GTLS: GAS TO LIQUID SYSTEMS® Record Backlog and Orders in Q3 2023 17 Q3 2023: • Orders each over $1M: 139 • First of a Kinds (FOAKs): 26 • New Customers: 83 • New MOUs: 7 (total 50) CBRE in Europe with an LNG station retrofit for Shell Slovakia Minnesota DOT –St. Croix: GAC treatment system for PFAS Day & Zimmerman GAC Water Treatment system for treating trace amounts of TNT in wastewater $millions Orders Q3 2023 Q2 2023 % change Chart total orders $1,127 $1,063 +6% BigLNG 0 ~200 Chart orders ex BigLNG 1,127 ~863 ~30% Key Q3 2023 Bookings: • Hydrogen and helium liquefiers • Multiple jumbo tanks for space exploration • Oil and gas project for customer in M. East • Multiple railcars from IG customer • LNG export terminal fans retrofit • Water treatment in India • Steam turbine generating set for steam cycle system $millions Orders Q3 2023 Q2 2023 % change HTS total orders 176 302 (42%) BigLNG 0 ~200 HTS orders ex BigLNG 176 ~102 ~72% Blower system for ice breaking in ships reducing ice resistance and usable as a steering device

GTLS: GAS TO LIQUID SYSTEMS® © 2023 Chart Industries, Inc. Confidential and Proprietary 18 Chart’s End Market Opportunity Pipeline End Market Prior Quarter June 30, 2023* Current Quarter September 30, 2023* Big LNG • $7.6 billion • 27 projects • 9 intl projects for potential IPSMR® • $8.5 billion • 29 projects • 10 intl projects for potential IPSMR® • 1 intl project selected IPSMR® technology (PO not yet booked) ssLNG/FLNG • 386 potential projects in commercial pipeline • 441 potential projects in commercial pipeline Hydrogen • 1,170 customers & potential customers • 1,251 customers & potential customers • An increase of 59% from 12/31/2022 Carbon Capture • 818 customers & potential customers • $2.72 billion of approximate value of top 30 opportunities in CCUS commercial pipeline • 868 customers & potential customers • $2.72 billion of approximate value of top 30 opportunities in CCUS commercial pipeline Water Treatment • 778 customers & potential customers • 828 customers & potential customers • Q3 2023 = 15 orders with new water customers *Includes Chart and Howden figures Commercial opportunity pipeline of over $20.3 billion Includes over $1.3 billion of synergy order pipeline

GTLS: GAS TO LIQUID SYSTEMS® Four Aspects of LNG End Markets We Serve 19 • We have booked Big LNG orders in 2021, 2022, 2023 • YTD 9/30/2023, we have booked two Big LNG orders; anticipate another around year-end 2023 • We anticipate Big LNG orders in the coming years (supply/demand and move to modularity) • SsLNG and FLNG have gained traction globally • Continue to see projects move ahead with private financing • Large momentum for Southeast Asia and Africa ssLNG and FLNG projects in the pipeline • ISO containers continue in strong demand • LNG fueling stations expanding in EU and India • Over-the-road vehicle tanks for LNG heavy duty trucks slow in 2022, and 2023 YTD • Broader customer demand for LNG tanks in 2023 • Multiple FEED studies from US Gulf Coast operators for nitrogen rejection units • Upgrading, optimizing, and debottlenecking of existing LNG facilities to run more efficiently and increase output • Service and repair opportunities increasing Big LNG Small-scale and Floating LNG LNG Infrastructure Retrofit Service & Repair Synergy Orders already booked YTD Synergy orders already booked YTD Synergy orders already booked YTD

* * * * Potential for Chart & Howden Content Confirmed funding Oct.13 * * ** * * * Source: CHF & White House Announcement 10/13/2023 * * * * * * * * * * US DOE Hub Applications Status as of October 13, 2023 * * * *

GTLS: GAS TO LIQUID SYSTEMS® Hydrogen Momentum Across Applications and Geographies 21 • Q3 2023 notable hydrogen-related orders around the world • Awarded H2 and He liquefiers (synergy wins) • Received a H2 compressor order ($16M+) from a Korean customer • Orders from various geographies, including China, USA, Canada, Korea including our first order for LH2 tank in South Korea market • Q3 2023 hydrogen-related certifications and engineering accomplishments • Received full Korean code (KGS) approval for the LH2 trailers • Howden successful stage gate review for high pressure 700MPa oil free reciprocating compressor development. • Received Design Appraisal Document for the ASME version of our LH2 ISO container. • Q3 2023 significant hydrogen achievements with our customers • Hyzon Motor Company and Performance Food Group (PFG) completed deliveries to 8 PFG customers using our liquid hydrogen onboard tank (traveled 540+ miles, 16 hours continuous run-time, temperatures 100F+) • We completed and shipped three trailers from our Theodore, Alabama (USA) factory to a South Korean customer (October 4, 2023) that will be first to deliver liquid H2 to customers in country Global Chart Hydrogen Orders 2020-current Note: Countries can have multiple projects Total Orders Production & Liquefaction Storage & Transportation End Use H2 Orders 2020-2023 - Order Value 2023 is Annualized from YTD Q3 2020 2021 2022 Est. 2023 Annualized per YTD Q3

GTLS: GAS TO LIQUID SYSTEMS® 22© 2023 Chart Industries, Inc. Confidential and Proprietary Agenda Howden Synergy Achievements Key Takeaways Record Q3 2023 Results & Continued Strong Demand Progress on Deleveraging 2023 and 2024 Outlook ~30%

GTLS: GAS TO LIQUID SYSTEMS® 23 # Description Achieved as of October 26, 2023 Original annualized year-one target $ millions % of year-one synergies achieved to date % of year-one ownership as of 10/26/2023 1 Commercial synergies 297.9 150 ~199% ~60% 3 Cost synergies 135.6 175 ~78% ~60% Synergy Achievement (March 17, 2023 to October 26, 2023) • Exceeded year-one commercial synergy target with $297.9 million booked as of October 26, 2023 (year- one target of $150 million) • On-track to meet or exceed year-one cost synergy target with $135.6 million completed as of October 26, 2023 (year-one target of was $175 million)

GTLS: GAS TO LIQUID SYSTEMS® 24 Q3 2023 Example Commercial Synergy Wins Due to Howden’s field service capability and presence in Europe, Chart was able to book another Lifecycle Service Agreement for CNG refueling stations. It gives us a $200 million+ aftermarket opportunity for the installed base in Europe Booked a carbon capture FEED-study order for a large European cement manufacturer using Chart and Howden equipment and SES Cryogenic Carbon Capture technology Won a next generation Tuf-Lite fans order with a Chart legacy customer for a retrofit project which will utilize Howden’s Hengelo noise testing and wind tunnel capabilities to meet all field requirements Awarded a hydrogen liquefier project with a new customer which will include Chart and Howden equipment and technology Commercial synergy orders of $297.9 million have exceeded our year-one target of $150 million Chart customer using Howden service capabilities Howden customer using Chart’s CCUS capabilities Chart’s customer using Howden’s wind tunnel and noise testing New customer using Chart and Howden full solution

GTLS: GAS TO LIQUID SYSTEMS® OneChart™ Culture Drives Synergy Ideas and Attainment 25 Hello Jill, I wanted to say a big thanks to you, Camille & Parvesh for yesterday’s shout-out. This really has been a great example of a OneChart approach with many teams involved. Whilst it was really nice for me to get the mention personally, there are many others within HAX & HIN that have contributed to get us to where we are now. One final push to get the casings to Germany (error free) and then I think we can really celebrate ☺ That said, thanks to all for the recognition & to David for his guidance on maintaining our objectives with this project. I always think it is nice to know that we are making a difference & with the Rugby World Cup & Olympics eminent in Paris it is great to see these metro lines taking shape. A small piece of the bigger picture… One Chart | Thank You! Hi Robin, Since we will finish the 6 Sigma training tomorrow, I would like to share my great appreciation to the teacher Named Khubaib. He is a great teacher, and I have learned a lot from him. He helped me figure out a lot of concepts which is pretty helpful for my work in the near future. I was impressed with his expertise and humble character. Great teacher. @Catalano, Robin also thank you, Great Arrangement. Have a great day. 6 Sigma Training | Emerging Leaders Hi Jill – I hope you are well, and I am glad the APAC visit went well with the team. Regarding the below request for a procurement slide for Amers, Europe & China regions. I am working with my regional procurement directors (Taylor, Calum & Liu Yan) to put this together early next week and share with you, Earl, Fred & Sherry. I have a regular cadence process in place monitoring these KPI’s, so the data is available. FYI – we also have a H2 integration plan (update attached) to make the overall procurement governance process consistent across the combined organization. In addition, I thought I would share how we are tracking on synergy, as of today: The team continue to make great progress and the collaboration is really the best I have seen at this stage of an integration process. Awesome…. Awesome Collaboration Hi Jill, Good to be in touch with you. I am Procurement Director for Europe, working closely with Colin, Fred, David and the wider regional team. Further to recent discussions with Colin, please see attached update on EU procurement performance. In summary, we’re tracking well against Howden FY23 AOP plan, rapid negotiation program exceeded expectations, and engagement has been excellent throughout integration of our supply chain teams. Please let me know if you have any questions or would like additional info. Thanks Team Work | AOP“This really has been a great example of a OneChart approach with many teams involved!” “I would like to share my great appreciation to Named. He is a great teacher, and I have learned a lot from him.” “The team continue to make great progress and the collaboration is really the best I have seen at this st e of an in egration p ocess.” “…rapid negotiation program exceeded expectations, and engagement has been excellent throughout” Example QR

26 © 2023 Chart Industries, Inc. Confidential and Proprietary Aftermarket, service and repair is a key area of synergy opportunity Readiness to Serve Installed Base Mgt & Campaigning Customer Attachment Intelligent AFM (iAFM) Processes Optimize sales & service capabilities local to customers – provide a ‘One-Chart’ approach Improve processes to capture more business from the global installed base through targeted campaigns Enhance our systems and processes to improve response times, upsell our services and maximize our prices Expand our connected customer assets to provide enhanced reliability and long term service agreements • Combined service centre network in every region • Multi-skilled field service resources • Aftermarket academy • Spare Parts Pricing • Smart Records • Customer Service Desk • Inside Sales & Channel Partner Management • Installed Base data capture & management • Proactive Sales Campaigning • Tools to access installed base for each salesperson • Lifecycle contracts with connected assets (Uptime, LTSA, Frameworks) • Uptime enabled products

GTLS: GAS TO LIQUID SYSTEMS® 27© 2023 Chart Industries, Inc. Confidential and Proprietary Agenda Howden Synergy Achievements Key Takeaways Record Q3 2023 Results & Continued Strong Demand Progress on Deleveraging 2023 and 2024 Outlook

GTLS: GAS TO LIQUID SYSTEMS® Q3 2023 Act Midyear 2024 Fcst Net Leverage (bank EBITDA) Net Leverage (covenant ceiling) Accelerating Net Leverage Reduction 28 3.59X 2.5-2.9X 4.5X 6.0X Debt Covenant: Net Debt/ LTM Adjusted EBITDA(1) ▪ Reiterate our financial policy that until we are within our target net leverage ratio range of 2-2.5X, we will: ▪ Not do any additional material cash acquisitions ▪ Not do share repurchases ▪ Credit Ratings ▪ Moody’s LTR B1 Stable ▪ S&P LT Issuer Credit B+ Stable (1) Adjusted EBITDA is a non-GAAP measure and should not be consulted as an alternative to net income in accordance with U.S. GAAP ▪ Q2 2023 net leverage of 3.59X; pro forma of 3.47X adjusting for Cofimco, Cryo Diffusion and American Fans divestitures © 2023 Chart Industries, Inc. Confidential and Proprietary 3.47X proforma for announced divestitures

GTLS: GAS TO LIQUID SYSTEMS® Cash and Balance Sheet Activities in Q3 2023 29 1. Action completed (non-divestiture related) a) Received Howden acquisition working capital settlement ($17.5 million; cash received July 26, 2023) b) Completed additional ~$15.1 million cash repatriation from China (~$35 million YTD 2023), ~$7.5 million from South Africa, ~$2 million from Italy and ~$1.3 million from India c) Term Loan B repricing = 50 bps reduction to spread (~$9 million annual in interest savings on $1.8B balance); closed October 2, 2023 d) Closed our S. Africa property sale (cash received of ~$2.2 million on September 29, 2023) e) Additional non-RCF letter of credit capacity via bilateral line with HSBC Germany (25M euro) 2. Completed: Divestitures resulting in approximately $500 million of cash for debt paydown a) Closed on the Roots™ divestiture to Ingersoll Rand (NYSE: IR) for $300 million all-cash on August 18, 2023 b) Executed definitive agreement to sell Cofimco to PX3 for $80 million all-cash transaction (expected to close October 31, 2023) c) Completed sale of a French product line for 4.25M Euros (Q4 2023 cash) d) Signed and closed on the sale of American Fans to Arcline Investment Management for $111 million all-cash on October 26, 2023 e) Achieved original targeted cash proceeds from a subset of the original asset scope from divestitures of ~$496 million; one asset from the original scope remains within Chart currently 3. Underway: Other Balance Sheet Activities a) Sale of additional specific properties underway (two expected to close in fourth quarter 2023 totaling ~$4.75M) b) Consolidating or reducing other offices/sites (30+) c) Cash recovery process announced from Chart supplier (related to the divested Cryobio business) d) Cash repatriation throughout remainder of 2023 e) Replacement of US Insurance collateral SBLCs

Q3 2023 Accelerated Investment in Theodore, AL (USA) Jumbo Tank and Railcar Facility; High ROI, Over $115 million in backlog 30 • $58M of orders booked for facility in Q3 2023 • Shop built tanks up to 450k gallons, 1700m3 • Largest shop built cryogenic tanks in the world • Water, truck and rail shipping options • Schedule accelerated for earlier completion and first production, supporting our third quarter 2023 bookings • Rail spur revamp from Phase 2 also accelerated Customer Q3 2023 Orders Total Backlog* Space #1 $20M Space #2 $22M $31M Space #3 $17M $17M IG Railcars $19M $45M EPC $2M Totals $58M $115M *Backlog as of 9/30/2023 specifically for the Theodore, Alabama #2 facility Progress as of June 30, 2023 Only Low Bay had first concrete pour Current progress Including inside photo of High Bay

GTLS: GAS TO LIQUID SYSTEMS® Free Cash Flow Details 31 (1) $M Description Q3 2023 Actual Comments A Net cash (used in) operating activities as presented (Consolidated US GAAP) ($22.6) • Includes activity related to Roots discontinued operations, Howden acquisition adjustments and Cofimco assets held for sale B Impact of non-continuing operations of Cofimco & Roots 89.7 • Not repeating C Howden acquisition adjustments and FX/Other 37.3 • Not repeating D Adjusted net cash provided by continuing operations (non-GAAP) 104.4 E Capital Expenditures (63.6) • Q4 2023 expected to be more typical F Gain on sale of property 3.6 G Capital Expenditures Discontinued Operations 2.6 • Not repeating H Free Cash Flow (FCF), from Continuing Operations (non- GAAP) 47.0 I M&A Advisor and other Howden M&A related cash costs 37.8 J Adjusted FCF from Continuing Operations (non-GAAP) 84.8 • METRIC USED FOR GUIDANCE K Theodore, Alabama capital expenditure acceleration 35.0 • Teddy2 Q4 2023 expected to be in-line w/ fcst L Non-repeating stub Sr. Secured Notes payment 9.0 • Not repeating ever M Normalized FCF from Continuing Operations (non-GAAP) 128.8 1) Reference letters A through K match the table in the earnings release. 2) Free cash flow and adjusted free cash flow are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by (used in) operating activities in accordance with U.S. GAAP. The Company believes this figure is of interest to investors and facilities useful period-to-period comparisons of the Company’s operating results. See “Third Quarter 2023 Free Cash Flow” in appendix for a reconciliation.

GTLS: GAS TO LIQUID SYSTEMS® 32© 2023 Chart Industries, Inc. Confidential and Proprietary Agenda Howden Synergy Achievements Key Takeaways Record Q3 2023 Results & Continued Strong Demand Progress on Deleveraging 2023 and 2024 Outlook

GTLS: GAS TO LIQUID SYSTEMS® 33 Chart Industries Outlook Guidance Metrics as of October 27, 2023 1) EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that EBITDA and Adjusted EBITDA facilitate useful period-to-period comparisons of financial results and the information is used by us in evaluating our internal performance. 2) “Adjusted free cash flow” is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by (used in) operating activities in accordance with U.S. GAAP. The Company believes this figure is of interest to investors and facilities useful period-to-period comparisons of the Company’s operating results. 3) Adjusted diluted EPS (a non-GAAP measure) guidance excludes incremental intangible amortization related to Howden acquisition. Q4 2023 2023 Comments Revenue $1.1-$1.15B $3.45-$3.5B • Delivering on record backlog • Earlier than anticipated close on sales of American Fan & Cofimco • Timing shifts between quarters • Aftermarket/ book & ship accelerate from Q3 levels Adjusted EBITDA $255-$270M $745-$760M • Continued consistent EBITDA margin as prior two quarters • Benefits from Volume leverage & mix (Big LNG and RSL growth) • Benefit from cost synergies Adjusted Free Cash Flow $145-$160M $335-$350M • Non-repeat of Q3 cash interest payment in Q4 2023 • Benefits from working capital management • Lower incremental Teddy 2 capex compared to Q3 2023 Cash available for debt paydown in 2023 $340-$350M $675-685M • Updated for Q4 free cash flow • $80 million Cofimco cash anticipated in Q4 • $111 million American Fan cash received 10/26/2023 Adjusted diluted EPS $2.20-$2.40 $6.05-$6.25 • Making progress on tax rate through integration actions • Includes diluted share count of ~47 million

GTLS: GAS TO LIQUID SYSTEMS® 34 Chart Industries 2024 Outlook Guidance Metrics as of October 27, 2023 1) EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that EBITDA and Adjusted EBITDA facilitate useful period-to-period comparisons of financial results and the information is used by us in evaluating our internal performance. 2) Adjusted diluted EPS (a non-GAAP measure) guidance excludes incremental intangible amortization related to Howden acquisition. 2024 Comments Revenue ~$5.1B • Delivering on record backlog • Big LNG and Specialty backlog conversion • Inclusion of commercial synergies • Repair, Service & Leasing growth of 10%+ Adjusted EBITDA ~$1.3B • Benefits from Volume leverage • Benefits from Mix (Big LNG, hydrogen liquefaction, and RSL growth) • Benefit from cost synergies Free Cash Flow $575-$625M • Growth in net income • Lower cash interest and cash taxes • Benefits from working capital management Cash available for debt paydown in 2024 $575-$625M plus • Full year 2024 free cash flow • Additional cash planning actions including real estate sales and cash harvesting items Adjusted Earnings per Share ~$14 plus • Includes Q4 divestiture proceeds used for debt reduction as well as excess free cash flow generated through 2024 • Tailwind from expected lower effective tax rate

“-clean power, clean water, clean food, and clean industrials regardless of molecule.” 2023 ANALYST DAYSAVE THE DATE! November 28, 2023 8:00am – 12:00pm ET New York Stock Exchange, NY Register here: https://investorday.chartindustries.com Join Jill Evanko, President and CEO, Joe Brinkman, CFO, and the Chart Industries Leadership team for breakfast, presentations and Q&A

APPENDIX

GTLS: GAS TO LIQUID SYSTEMS® Commercial Pipeline Growth 37 Q2 2023 Q3 2023 ~ $20B ~ $20.3B Q1 2023 Q2 2023 Q3 2023 ~ $1.3B ~ $0.8B ~ $1B Our total commercial pipeline, inclusive of commercial synergies, is over $20.3B for the next 3 years and increased quarter-over-quarter despite converting ~$1.13B of pipeline into orders during the third quarter 2023 Total Chart Commercial Pipeline Chart’s Commercial Synergy Pipeline

GTLS: GAS TO LIQUID SYSTEMS® Recent Macro Activity Driving Chart Demand 38 # End Market Recent News 1 CCUS • UK strategy to meet net zero emissions includes combing biomass with carbon capture technology (aka BECCS) • Project Stratos, under construction in Texas, is planned to be the world’s largest carbon capture facility, removing 500,000 tons of CO2 from the atmosphere/year • Large international oil companies investing in CCUS projects, technologies and companies • Materialization of several CCUS projects in the cement industry, which comprises ~8% of worldwide carbon emission • Growing focus between Southeast Asia and Australia on pooling resources for CCUS hubs and projects 2 Hydrogen • US. Department of Energy announced 7 Hydrogen Hubs to receive ~$7 billion in funding on October 13, 2023 • EU member states approved the Renewable Energy Directive which will require 42% of H2 used by industry to be green by 2030 and 1% of all transport fuels to be green • Federal and local governments are investing 100M AUD into infrastructure in S. Australia’s first large-scale hydrogen export terminal 3 Water Treatment • The Department of Water Resources awarded $187 million to 32 groundwater subbasins through a grant program supporting groundwater monitoring, water use efficiency, groundwater recharge, recycled water and water quality • Flow of saltwater upriver from Gulf of Mexico is expected to cause water systems in Louisiana to need emergency bulk water supply • Abu Dhabi National Oil and Energy Company will finance a $2.2 billion project to provide sustainable water supply to ADNOC’s onshore operations 4 Electrification / Mining • Globally, lithium output is on track to triple over the next decade • A deposit of lithium recently discovered along the Nevada-Oregon border may be among the world’s largest • U.S. and EU countries are building their own abilities to mine, process and manufacture critical minerals 5 Space Exploration • Economic experts (Morgan Stanley, GlobalData) project the value of the space exploration economy to reach $1 trillion by 2040 • Multiple other countries are getting involved in space exploration including India, Taiwan Space Agency, and Pakistan 6 LNG • Sempra has received federal approval to double capacity at the Port Arthur LNG project in Texas • Roundhill Investments announced the launch of the world’s first dedicated LNG ETF • Saudi Aramco signed a deal to buy a minority stake in MidOcean Energy; its first investment in the international LNG market 7 Nuclear/SMR • Polish and U.S. officials signed an agreement Sept 27, 2023 to progress with the construction of Poland’s first nuclear power plant • UK Government launched GB Nuclear which will include deployment of SMR to industrial process and grid-based power generation • French SMR company submitted safety file to French Nuclear Regulator, a key step in preparing the licensing for SMR deployment

GTLS: GAS TO LIQUID SYSTEMS® Current Debt Maturity Profile 39© 2023 Chart Industries, Inc. Confidential and Proprietary 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2023 2024 2025 2026 2027 2028 2029 2030 2031 Bonds TLB RCF - Drawn RCF - Unused No significant maturities until 2030 $ million ▪ Mix of Term Loan B and Bonds provides prepayment flexibility, protection against interest rate fluctuations ▪ Significant capacity on RCF to address any near-term needs

GTLS: GAS TO LIQUID SYSTEMS® Third Quarter 2023 Adjusted EPS © 2023 Chart Industries, Inc. Confidential and Proprietary 40 (1) Tax effect reflects adjustment at normalized periodic rates (2) Adjusted Diluted EPS is a non-GAAP measure and is reported on a historical basis. EPS adjustment reconciliation table is provided in accompanying press release financial tables. $ millions, except per share amounts Q3 2023 Diluted EPSQ2 2023 Diluted EPS YTD Q3 2023 Diluted EPSContinuing Operations Net income attributable to Chart Industries, Inc. 9.4 6.6 0.1 Less: Mandatory convertible preferred stock dividend 6.8 6.9 20.5 Income (loss) from continuing operations attributable to Chart 2.6 (0.3) (20.4) Reported EPS $ 0.05 $ (0.01) $ (0.49) 1 Investment equities mark-to-market, net of FX 0.11 0.10 0.26 2 Debt and financing costs - - 1.28 3 Mandatory convertible preferred stock dividend 0.15 0.15 0.49 4 Deal related and integration costs 0.12 0.16 0.83 5 Howden amortization 1.00 0.99 2.25 6 Startup costs - organic - - 0.03 7 Restructuring & related costs 0.10 0.13 0.26 8 Other one-time Items - - 0.01 9 Tax effects (1) (0.25) (0.33) (1.08) Adjusted EPS (2) $1.28 $1.19 $3.84 Share Count (millions) 47.61 46.45 41.96

GTLS: GAS TO LIQUID SYSTEMS® 41 Third Quarter 2023 Adjusted EBITDA $ millions, except per share amounts Consolidated Q3 2023 Q3 2022 Change v. PY Q2 2023 Change v. PQ Net sales 897.9 412.1 485.8 908.1 (10.2) Net income from continuing operations $11.6 $41.6 ($30.0) $9.6 $2.0 Income tax expense (benefit), net 0.2 (1.6) 1.8 2.4 (2.2) Interest expense, net 90.5 6.4 84.1 83.9 6.6 Depreciation and amortization 67.0 20.2 46.8 62.9 4.1 EBITDA (1) $169.3 $66.6 $102.7 $158.8 $10.5 Non-recurring costs 18.0 (0.5) 18.5 29.3 (11.3) Share-based compensation 2.6 2.3 0.3 2.6 0.0 Investment equities mark-to-market 5.1 9.6 (4.5) 4.6 0.5 Adjusted EBITDA (1) $195.0 $78.0 $117.0 $195.3 ($0.3) % of Sales 21.7% 18.9% +280 bps 21.5% +20 bps (1) EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that EBITDA and Adjusted EBITDA facilitate useful period-to-period comparisons of financial results and the information is used by us in evaluating our internal performance.

GTLS: GAS TO LIQUID SYSTEMS® Q3 2023 Addback Detail © 2023 Chart Industries, Inc. Confidential and Proprietary 42 Main category Detailed Description Q3 2023 gross amount (+ added to / (-) reduced income) Impact to operating income 1 Mark-to-Market of inorganic investments • McPhy MTM • Stabilis MTM • Minority investments, other (Liberty and HTEC) 5.1 No, net income only 2 Howden deal, integration, restructuring and related expense • Integration costs • Third party support fees • Specific to org structure changes, movement of people between facilities, sign-on bonuses • Cost to achieve synergies 10.6 Yes, operating and net income 3 Amortization • Howden Q3 amortization • Inventory and PPE Step-up 47.6 Yes, operating and net income 4 Tax effect on all above adjustments • Tax effect on gross adjustments as shown above (11.8) No, net income only

GTLS: GAS TO LIQUID SYSTEMS® Sequential Segment Details - Reported 43 $ millions Sales Gross Profit Margin Operating Margin Commentary Q3 23 Q2 23 Q3 23 Q2 23 Q3 23 Q2 23 Cryo Tank Solutions $159.0 $152.7 22.1% 18.9% 10.8% 6.9% • Q3 sales benefited from Q2 revenue shift • Q/Q operating performance driven by improvement in price/cost +4.1% +320bps +390bps Heat Transfer Systems $232.5 $236.0 26.5% 28.5% 18.7% 21.1% • Sales driven by ssLNG and Q/Q improvement in traditional energy • Q/Q profit margin impacted by Big LNG having more revenue in Q2 driven by delivery timing of customer trains -1.5% -200bps -240bps Specialty Products $240.0 $236.7 25.8% 25.8% 14.0% 12.3% • Q3 was impacted by Teddy 2 expansion timing; adjusting for this Gross Profit Margin would have been 100bps higher • 2024 and beyond to benefit from accretive to Gross Profit Margin liquefication projects that are already in backlog+1.4% 0bps +170bps Repair, Service & Leasing $271.3 $298.7 43.3% 41.3% 15.6% 15.3% • Q/Q sales driven by new customer additions, continued strength in service and spares partially offset by timing as shown on slide 15 • Profit performance remains above ~42% Gross Profit Margin target -9.2% +200bps +30bps

GTLS: GAS TO LIQUID SYSTEMS® Sequential Segment Details - Adjusted 44 $ millions Sales Adj. Gross Profit Margin Adj. OP Margin Commentary Q3 23 Q2 23 Q3 23 Q2 23 Q3 23 Q2 23 Cryo Tank Solutions $159.0 $152.7 23.3% 21.5% 12.6% 8.6% • Q3 sales benefited from Q2 revenue shift • Q/Q operating performance driven by improvement in price/cost +4.1% +180bps +400bps Heat Transfer Systems $232.5 $236.0 26.8% 28.8% 19.7% 21.4% • Sales driven by ssLNG and Q/Q improvement in traditional energy • Q/Q profit margin impacted by Big LNG having more revenue in Q2 driven by delivery timing of customer trains -1.5% -200bps -170bps Specialty Products $240.0 $236.7 26.6% 27.0% 16.5% 13.7% • Q3 was impacted by Teddy 2 expansion timing; adjusting for this Gross Profit Margin would have been 100bps higher • 2024 and beyond to benefit from accretive to Gross Profit Margin liquefication projects that are already in backlog+1.4% -40bps +280bps Repair, Service & Leasing $271.3 $298.7 45.1% 43.6% 30.2% 30.2% • Q/Q sales driven by new customer additions, continued strength in service and spares partially offset by timing as shown on slide 15 • Profit performance remains above ~42% Gross Profit Margin target -9.2% +150bps 0bps

GTLS: GAS TO LIQUID SYSTEMS® 45 Third Quarter 2023 Net Income Bridge $ millions, except per share amounts Q3 2023, Reported Adjustments Q3 2023, AdjustedContinuing Operations Sales $897.9 - $897.9 Cost of sales 621.7 (9.1) 612.6 Gross profit 276.2 9.1 285.3 Selling, general, and administrative expenses 122.8 (9.0) 113.8 Amortization expense 49.0 (39.3) 9.7 Operating expenses 171.8 (48.3) 123.5 Operating income 104.4 57.4 161.8 Interest expense, net 85.7 - 85.7 Financing costs amortization 4.8 - 4.8 Unrealized loss (gain) on investments in equity securities 5.2 (5.2) - Foreign currency loss (2.9) - (2.9) Other income 1.1 (0.8) 0.3 Income tax expense 0.1 11.8 11.9 Income before equity in (loss) earnings of unconsolidated affiliates, net 10.4 51.6 62.0 Equity in (loss) earnings of unconsolidated affiliates, net 1.3 - 1.3 Net income 11.7 51.6 63.3 Less: Income attributable to noncontrolling interests, net of taxes 2.3 - 2.3 Net income attributable to Chart Industries, Inc. $9.4 $51.6 $61.0

GTLS: GAS TO LIQUID SYSTEMS® 46 Segment Sales and Operating Margin Information Sales ($M, except %) Q3 ‘23 Q2 ‘23 % Chg PQ Q3 '22 % Chg PY Specialty Products 240.0 236.7 +1.4% 108.1 +122% Cryo Tank Solutions 159.0 152.7 +4.1% 126.9 +25.3% Repair, Service, Leasing 271.3 298.7 -9.2% 49.7 +445.9% Heat Transfer Systems 232.5 236.0 -1.5% 132.1 +76% Reported Op Income ($M, except %) Q3 ‘23 Q2 ‘23 % Chg PQ Q3 '22 % Chg PY Specialty Products 33.7 29.1 +15.8% 16.7 +101.8% Cryo Tank Solutions 17.1 10.5 +62.9% 12.2 +40.2% Repair, Service, Leasing 42.3 45.6 -7.2% 12.0 +252.5% Heat Transfer Systems 43.4 49.8 -12.9% 18.3 +137.2% Adjusted Op Income ($M, except %) Q3 ‘23 Q2 ‘23 % Chg PQ Q3 '22 % Chg PY Specialty Products 39.6 32.5 +21.8% 21.3 +85.9% Cryo Tank Solutions 20.1 13.2 +52.3% 13.8 45.7% Repair, Service, Leasing 82.0 90.1 -9% 11.4 +619.3% Heat Transfer Systems 45.7 50.6 -9.7% 21.3 +114.6% Adjusted Op Margin ($M, except %) Q3 ‘23 Q2 ‘23 Bps Chg PQ Q3 '22 Bps Chg PY Specialty Products 16.5% 13.7% +280 bps 19.7% -320 bps Cryo Tank Solutions 12.6% 8.6% +400 bps 10.9% 170 bps Repair, Service, Leasing 30.2% 30.2% 10 bps 22.9% +730 bps Heat Transfer Systems 19.7% 21.4% -180 bps 16.1% +360 bps (1) Adjusted Operating Margin % is a non-GAAP measure. Please see reconciliation table at the end of the accompanying earnings release for a reconciliation to the relevant GAAP measure

GTLS: GAS TO LIQUID SYSTEMS® 47 Segment Sales and Gross Margin Information Sales ($M, except %) Q3 ‘23 Q2 ‘23 % Chg PQ Q3 '22 % Chg PY Specialty Products 240.0 236.7 +1.4% 108.1 +122% Cryo Tank Solutions 159.0 152.7 +4.1% 126.9 +25.3% Repair, Service, Leasing 271.3 298.7 -9.2% 49.7 +445.9% Heat Transfer Systems 232.5 236.0 -1.5% 132.1 +76% Reported GM % ($M, except %) Q3 ‘23 Q2 ‘23 % Chg PQ Q3 '22 % Chg PY Specialty Products 25.8% 25.8% 0 bps 31.6% -580 bps Cryo Tank Solutions 22.1% 18.9% +320 bps 18.0% +410 bps Repair, Service, Leasing 43.3% 41.3% 200 bps 38.4% +490 bps Heat Transfer Systems 26.5% 28.5% -200 bps 21.6% +490 bps Adjusted GM % ($M, except %) Q3 ‘23 Q2 ‘23 Bps Chg PQ Q3 '22 Bps Chg PY Specialty Products 26.6% 27.0% -40 bps 35.6% -900 bps Cryo Tank Solutions 23.3% 21.5% +180 bps 19.2% +410 bps Repair, Service, Leasing 45.1% 43.6% +150 bps 37.0% +810 bps Heat Transfer Systems 26.8% 28.8% -200 bps 23.7% +310 bps (1) Adjusted GM % is a non-GAAP measure. Please see reconciliation table at the end of the accompanying earnings release for a reconciliation to the relevant GAAP measure

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