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Exhibit 99.1

Ingersoll Rand Reports Second-Quarter 2020 Results

Important note: On February 29, 2020, Gardner Denver Holdings, Inc. closed on the acquisition of Ingersoll-Rand plc’s Industrial segment (“the Transaction”) and assumed the name Ingersoll Rand Inc. “Reported results” reflect the respective contributions from each company based on the close of the Transaction. For comparative purposes, management has also presented herein Supplemental Financial Information as if the Transaction was completed on January 1, 2018. All comparisons provided are on a year-over-year basis unless otherwise noted.

DAVIDSON, N.C. – August 3, 2020 – Ingersoll Rand Inc. (NYSE: IR) reported second-quarter revenues of $1.3 billion up 101% versus prior year as reported revenues due primarily to the Transaction. Compared to supplemental adjusted revenues of $1.6 billion in 2019, reported revenues declined 21% or 19% excluding the impact of FX. Reported net loss attributable to Ingersoll Rand Inc. in the quarter was $178 million, or a loss of $0.43 per share, based on share count of 417 million, compared to prior year as reported net income attributable to Ingersoll Rand Inc. of $45 million, or $0.21 per share, based on share count of 209 million.  Adjusted Net Income was $130 million, or $0.31 per share, based on share count of 423 million, compared to prior year Supplemental Further Adjusted Net Income of $183 million, or $0.44 per share, based on share count of 420 million.  Adjusted EBITDA was $241 million, down 23% from prior year Supplemental Adjusted EBITDA of $313 million and Adjusted EBITDA as a percentage of revenues was 19.1%.

“We are very pleased with the outperformance in the second quarter. Our employees continued to go above and beyond to deliver for our customers, accelerate synergy actions and execute additional discretionary cost controls, despite the challenging market conditions and the unprecedented impacts of the global COVID-19 pandemic,” said Vicente Reynal, Chief Executive Officer. “Our second quarter results have helped fortify a solid foundation. Our strong free cash flow, along with our liquidity position, will allow us to pivot to our growth strategies for the second half of the year and beyond.”

Second-Quarter 2020 Segment Review

(All comparisons against the second quarter of 2019 unless otherwise noted.)

Industrial Technologies and Services Segment: broad range of compressor, vacuum and blower solutions as well as fluid transfer equipment, loading systems, power tools and lifting equipment

Precision and Science Technologies Segment: highly specialized gas, fluid management systems, liquid and precision syringe pumps and compressors

High Pressure Solutions Segment: diverse range of positive displacement pumps, integrated systems, consumables and associated aftermarket parts and services largely for use in the upstream oil and gas market

Integration Update

Driven by its Ingersoll Rand Execution Excellence process the company continued to drive a single culture through its Purpose and Values, talent, engagement and diversity and inclusion efforts, despite the challenges caused by social distancing during the COVID-19 global pandemic. In addition, the company built on its strategy of “Operating Sustainably” with a cadence of environmental, social, governance (ESG) activities including the publication of its first Sustainability Supplement and submission to the Dow Jones Sustainability Index.

The company remains on track to deliver $250 million of synergy-related cost savings by the third anniversary of the Transaction. To date, approximately $125 million of annualized cost actions have already been executed with expected in-year 2020 savings of approximately $95 million.³

² Prior year comparisons for Specialty Vehicle Technologies Segment not available on a reported basis

Balance Sheet and Cash Flow

The company remains in a strong financial position with ample liquidity of $2.2 billion which is an increase from prior quarter of $650 million. The major contributors were strong free cash flow where, on a reported basis, Ingersoll Rand generated $247 million of cash flow from operating activities and invested $17 million in capital expenditures, resulting in free cash flow of $230 million, compared to cash flow from operating activities of $61 million and free cash flow of $51 million in the year-ago period. Operating cash flows in the second-quarter of 2020 include outflows of approximately $43 million related to synergy delivery costs and stand-up related outflows. In addition, the company executed an opportunistic term loan B financing of $400 million as well as increased the capacity on its revolving credit facility by $100 million to further enhance its liquidity position. Second-quarter net debt to Supplemental Adjusted EBITDA leverage was 2.6x, flat to prior quarter.

2020 Outlook

Due to the uncertainty of current economic conditions associated with COVID-19 and its impact on end markets, Ingersoll Rand is not providing 2020 guidance at this time. The company will look to provide annual guidance at an appropriate time.

Conference Call

Ingersoll Rand will host a live earnings conference call to discuss the second-quarter results on Tuesday, August 4, 2020 at 10 a.m. (Eastern Time). To participate in the call, please dial 1-833-502-0496, domestically, or 1-778-560-2573, internationally, and use conference ID, 8796683, or ask to be joined into the Ingersoll Rand call. A real-time audio webcast of the presentation can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website (https://investors.irco.com), where related materials will be posted prior to the conference call. A replay of the webcast will be available after conclusion of the conference and can be accessed on the Ingersoll Rand Investor Relations website.

Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding the completed Transaction (the “Transaction”) between Ingersoll-Rand plc’s Industrial segment (“Ingersoll Rand Industrial”) and the Company (f/k/a Gardner Denver Holdings, Inc. or “Gardner Denver”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the expected benefits of the Transaction, including future financial and operating results and strategic benefits, the tax consequences of the Transaction, the combined company’s plans, objectives, expectations and intentions, legal, economic and regulatory conditions, the future impact of the coronavirus (COVID-19) pandemic on the Company’s business and any assumptions underlying any of the foregoing, are forward-looking statements.

These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) the impact on the Company’s business, suppliers and customers and global economic conditions of the COVID-19 pandemic (2) unexpected costs, charges or expenses resulting from the Transaction; (3) uncertainty of the expected financial performance of the combined company following completion of the Transaction; (4) failure to realize the anticipated benefits of the Transaction, including as a result of delay in integrating the businesses of Gardner Denver and Ingersoll Rand Industrial; (5) the ability of the combined company to implement its business strategy; (6) difficulties and delays in the combined company achieving revenue and cost synergies; (7) inability of the combined company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) adverse impact on our operations and financial performance due to natural disaster, catastrophe, pandemic or other event events outside of our control. Additional factors that could cause Ingersoll Rand’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, as such factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com. 

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Non-U.S. GAAP Measures of Financial Performance

In addition to consolidated GAAP financial measures, Ingersoll Rand reviews various non-GAAP financial measures, including “Adjusted EBITDA,” “Supplemental Adjusted EBITDA,” “Adjusted Net Income,” “Supplemental Further Adjusted Net Income,” “Supplemental Further Adjusted Diluted EPS,” “Adjusted Diluted EPS,” “Free Cash Flow,” “Supplemental Revenue” and “Incrementals/Decrementals.”

Ingersoll Rand believes Supplemental Revenue, Supplemental Further Adjusted Net Income, Supplemental Further Adjusted Diluted EPS and Supplemental Adjusted EBITDA are helpful supplemental measures to assist management and investors in evaluating the Company’s operating results as they provide supplemental information about the Company’s financial performance on a combined basis as if the Transaction had occurred on January 1, 2018. Ingersoll Rand believes Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted Net Income, Supplemental Further Adjusted Net Income, Supplemental Further Adjusted Diluted EPS, Adjusted Diluted EPS and Supplemental Revenue are helpful supplemental measures to assist management and investors in evaluating the Company’s operating results as they exclude certain items that are unusual in nature or whose fluctuation from period to period do not necessarily correspond to changes in the operations of Ingersoll Rand’s business. Adjusted EBITDA represents net income before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and other adjustment items. Supplemental Adjusted EBITDA represents Adjusted EBITDA as if the Transaction had occurred on January 1, 2018. Adjusted Net Income is defined as net income including interest, depreciation and amortization of non-acquisition related intangible assets and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions. Supplemental Further Adjusted Net Income represents Adjusted Net Income as if the Transaction had occurred on January 1, 2018. Ingersoll Rand believes that the adjustments applied in presenting Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted Net Income and Supplemental Further Adjusted Net Income are appropriate to provide additional information to investors about certain material non-cash items and about non-recurring items that the Company does not expect to continue at the same level in the future. Adjusted Diluted EPS is defined as Adjusted Net Income divided by Adjusted Diluted Average Shares Outstanding. Supplemental Further Adjusted Diluted EPS is defined as Supplemental Further Adjusted Net Income divided by Adjusted Diluted Average Shares Outstanding as if the Transaction had occurred on January 1, 2018. Supplemental Revenue represents revenue for the Company as if the Transaction had occurred on January 1, 2018. Incrementals/Decrementals are defined as the change in Adjusted EBITDA versus the prior year period divided by the change in revenue versus the prior year period.

Ingersoll Rand uses Free Cash Flow to review the liquidity of its operations. Ingersoll Rand measures Free Cash Flow as cash flows from operating activities less capital expenditures. Ingersoll Rand believes Free Cash Flow is a useful supplemental financial measure for management and investors in assessing the Company’s ability to pursue business opportunities and investments and to service its debt. Free Cash Flow is not a measure of our liquidity under GAAP and should not be considered as an alternative to cash flows from operating activities.

Management and Ingersoll Rand’s board of directors regularly use these measures as tools in evaluating the Company’s operating and financial performance and in establishing discretionary annual compensation. Such measures are provided in addition to, and should not be considered to be a substitute for, or superior to, the comparable measures under GAAP. In addition, Ingersoll Rand believes that Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Incrementals/Decrementals and Free Cash Flow are frequently used by investors and other interested parties in the evaluation of issuers, many of which also present Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow when reporting their results in an effort to facilitate an understanding of their operating and financial results and liquidity.

Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted Net Income, Supplemental Further Adjusted Net Income, Supplemental Further Adjusted Diluted EPS, Adjusted Diluted EPS, Incrementals/Decrementals, Free Cash Flow and Supplemental Revenue should not be considered as alternatives to net income, diluted earnings per share or any other performance measure derived in accordance with GAAP, or as alternatives to cash flow from operating activities as a measure of our liquidity. Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted Net Income, Supplemental Further Adjusted Net Income, Supplemental Further Adjusted Diluted EPS, Adjusted Diluted EPS, Free Cash Flow and Supplemental Revenue have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing Ingersoll Rand’s results as reported under GAAP.

Reconciliations of Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted Net Income, Supplemental Further Adjusted Net Income, Supplemental Further Adjusted Diluted EPS, Adjusted Diluted EPS, Free Cash Flow and Supplemental Revenue to their most comparable U.S. GAAP financial metrics for historical periods are presented in the tables below.

Contacts:
Media:	Investor Relations:
Misty Zelent	Vikram Kini
(704) 655-5324, [email protected]	(414) 212-4753, [email protected]

		For the Three Month Period Ended June 30,								For the Six Month Period Ended June 30,
		2020				2019				2020				2019
Revenues		$	1,264.4			$	629.1			$	2,064.3			$	1,249.4
Cost of sales			904.4				394.7				1,459.8				784.5
Gross Profit			360.0				234.4				604.5				464.9
Selling and administrative expenses			247.7				110.7				403.1				227.7
Amortization of intangible assets			114.6				30.9				169.8				62.3
Other operating expense, net			49.9				18.2				150.6				20.0
Operating (Loss) Income			(52.2	)			74.6				(119.0	)			154.9
Interest expense			30.8				22.4				57.9				44.8
Loss on extinguishment of debt			-				0.2				2.0				0.2
Other income, net			(2.3	)			(1.2	)			(2.5	)			(2.5	)
(Loss) Income Before Income Taxes			(80.7	)			53.2				(176.4	)			112.4
Provision for income taxes			95.8				8.3				37.0				20.3
Net (Loss) Income		$	(176.5	)		$	44.9			$	(213.4	)		$	92.1
Less: Net income attributable to noncontrolling interests			1.1				-				1.0				-
Net (Loss) Income Attributable to Ingersoll Rand Inc.		$	(177.6	)		$	44.9			$	(214.4	)		$	92.1
Basic (loss) earnings per share		$	(0.43	)		$	0.22			$	(0.62	)		$	0.45
Diluted (loss) earnings per share		$	(0.43	)		$	0.21			$	(0.62	)		$	0.44

		June 30,				December 31,
		2020				2019
Assets
Current assets:
Cash and cash equivalents		$	1,173.6			$	505.5
Accounts receivable, net of allowance for doubtful accounts of $65.6 and $18.4, respectively			922.2				459.1
Inventories			1,026.4				502.5
Other current assets			204.6				76.8
Total current assets			3,326.8				1,543.9
Property, plant and equipment, net of accumulated depreciation of $333.4 and $298.4, respectively			832.0				326.6
Goodwill			6,055.1				1,287.7
Other intangible assets, net			4,848.7				1,255.0
Deferred tax assets			13.7				3.0
Other assets			357.0				212.2
Total assets		$	15,433.3			$	4,628.4
Liabilities and Stockholders' Equity
Current liabilities:
Short-term borrowings and current maturities of long-term debt		$	39.8			$	7.6
Accounts payable			683.5				322.9
Accrued liabilities			754.9				244.1
Total current liabilities			1,478.2				574.6
Long-term debt, less current maturities			3,816.7				1,603.8
Pensions and other postretirement benefits			271.1				99.7
Deferred income taxes			913.3				251.0
Other liabilities			312.2				229.4
Total liabilities		$	6,791.5			$	2,758.5
Stockholders' equity:
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 418,592,336 and 206,767,529 shares issued at June 30, 2020 and December 31, 2019, respectively			4.2				2.1
Capital in excess of par value			9,256.5				2,302.0
Accumulated deficit			(356.8	)			(141.4	)
Accumulated other comprehensive loss			(293.2	)			(256.0	)
Treasury stock at cost; 1,633,875 and 1,701,785 shares at June 30, 2020 and December 31, 2019, respectively			(35.8	)			(36.8	)
Total Ingersoll Rand stockholders' equity		$	8,574.9			$	1,869.9
Noncontrolling interests			66.9				-
Total stockholders' equity		$	8,641.8			$	1,869.9
Total liabilities and stockholders' equity		$	15,433.3			$	4,628.4

INGERSOLL RAND INC. AND SUBSIDIARIES

		For the Six Month period ended
		June 31,
		2020				2019
Cash Flows From Operating Activities:
Net (loss) income		$	(213.4	)		$	92.1
Adjustments to reconcile net income to net cash
provided by operating activities:
Amortization of intangible assets			169.8				62.3
Depreciation in cost of sales			41.7				22.8
Depreciation in selling and administrative expenses			5.3				4.8
Stock-based compensation expense			16.2				13.6
Foreign currency transaction losses, net			7.8				3.7
Deferred income taxes			25.1				6.5
Non-cash adjustments to carrying value of LIFO inventories			45.9				-
Other non-cash adjustments			14.5				(0.1	)
Changes in assets and liabilities
Receivables			111.5				17.2
Inventories			(7.8	)			(35.0	)
Accounts payable			26.5				(0.8	)
Accrued liabilities			98.7				(0.9	)
Other assets and liabilities, net			(26.0	)			(56.1	)
Net cash provided by operating activities			315.8				130.1
Cash Flows From Investing Activities:
Capital expenditures			(25.4	)			(24.7	)
Net cash acquired (paid) in business combinations			41.3				(0.5	)
Disposals of property, plant and equipment			1.4				0.7
Net cash provided by (used in) investing activities			17.3				(24.5	)
Cash Flows From Financing Activities:
Principal payments on long-term debt			(1,599.6	)			(28.8	)
Proceeds from long-term debt			1,980.1				-
Purchases of treasury stock			(1.3	)			(17.1	)
Proceeds from stock option exercises			6.8				32.1
Payments of contingent consideration			(0.7	)			(2.0	)
Payments of debt issuance costs			(46.6	)			(0.3	)
Payments of costs incurred to issue shares for Ingersoll Rand Industrial acquisition			(1.0	)			-
Other financing			(0.8	)			-
Net cash provided by (used in) financing activities			336.9				(16.1	)
Effect of exchange rate changes on cash and cash equivalents			(1.9	)			6.8
Increase in cash and cash equivalents			668.1				96.3
Cash and cash equivalents, beginning of period			505.5				221.2
Cash and cash equivalents, end of period		$	1,173.6			$	317.5

		For the Three Month Period Ended June 30,								For the Six Month Period Ended June 30,
		2020				2019				2020				2019
Net (Loss) Income		$	(176.5	)		$	44.9			$	(213.4	)		$	92.1
Basic (Loss) Earnings Per Share (As Reported)1		$	(0.43	)		$	0.22			$	(0.62	)		$	0.45
Diluted (Loss) Earnings Per Share (As Reported)1		$	(0.43	)		$	0.21			$	(0.62	)		$	0.44
Plus:
Provision for income taxes			95.8				8.3				37.0				20.3
Amortization of acquisition related intangible assets			109.4				28.2				161.2				56.6
Restructuring and related business transformation costs			32.2				2.0				74.4				6.1
Acquisition related expenses and non-cash charges			95.9				17.1				192.1				18.7
Stock-based compensation			12.7				6.2				15.7				14.8
Foreign currency transaction losses, net			5.2				0.6				7.8				3.7
Loss on extinguishment of debt			-				0.2				2.0				0.2
Shareholder litigation settlement recoveries			-				-				-				(6.0	)
Other adjustments			2.1				0.2				1.4				0.7
Minus:
Income tax provision, as adjusted			46.9				19.2				73.2				40.5
Adjusted Net Income		$	129.9			$	88.5			$	205.0			$	166.7
Adjusted Basic Earnings Per Share		$	0.31			$	0.44			$	0.59			$	0.82
Adjusted Diluted Earnings Per Share2		$	0.31			$	0.42			$	0.58			$	0.80
Average shares outstanding:
Basic, as reported			417.0				203.4				347.2				202.5
Diluted, as reported3			417.0				208.9				347.2				208.4
Adjusted diluted2			423.0				208.9				351.3				208.4

		For the Three Month Period Ended June 30,								For the Six Month Period Ended June 30,
		2020				2019				2020				2019
Net (Loss) Income		$	(176.5	)		$	44.9			$	(213.4	)		$	92.1
Plus:
Interest expense			30.8				22.4				57.9				44.8
Provision for income taxes			95.8				8.3				37.0				20.3
Depreciation expense			28.4				13.5				44.3				27.6
Amortization expense			114.6				30.9				169.8				62.3
Restructuring and related business transformation costs			32.2				2.0				74.4				6.1
Acquisition related expenses and non-cash charges			95.9				17.1				192.1				18.7
Stock-based compensation			12.7				6.2				15.7				14.8
Foreign currency transaction losses, net			5.2				0.6				7.8				3.7
Loss on extinguishment of debt			-				0.2				2.0				0.2
Shareholder litigation settlement recoveries			-				-				-				(6.0	)
Other adjustments			2.1				0.2				1.4				0.7
Adjusted EBITDA		$	241.2			$	146.3			$	389.0			$	285.3
Minus:
Interest expense			30.8				22.4				57.9				44.8
Income tax provision, as adjusted			46.9				19.2				73.2				40.5
Depreciation expense			28.4				13.5				44.3				27.6
Amortization of non-acquisition related intangible assets			5.2				2.7				8.6				5.7
Adjusted Net Income		$	129.9			$	88.5			$	205.0			$	166.7
Free Cash Flow
Cash flows - operating activities			247.4				61.4				315.8				130.1
Minus:
Capital expenditures			17.1				10.6				25.4				24.7
Free Cash Flow		$	230.3			$	50.8			$	290.4			$	105.4

		For the Three Month Period Ended June 30,								For the Six Month Period Ended June 30,
		2020				2019				2020				2019
Orders
Industrial Technologies and Services		$	787.9			$	424.3			$	1,355.4			$	839.8
Precision and Science Technologies			201.2				84.7				332.1				170.5
Specialty Vehicle Technologies			208.2				-				270.6				-
High Pressure Solutions			12.8				97.7				96.3				210.3
Total Orders		$	1,210.1			$	606.7			$	2,054.4			$	1,220.6
Revenue
Industrial Technologies and Services		$	829.6			$	427.6			$	1,333.6			$	832.7
Precision and Science Technologies			195.8				82.0				308.6				161.3
Specialty Vehicle Technologies			217.5				-				304.3				-
High Pressure Solutions			21.5				119.5				117.8				255.4
Total Revenue		$	1,264.4			$	629.1			$	2,064.3			$	1,249.4
Segment Adjusted EBITDA
Industrial Technologies and Services		$	183.8			$	96.7			$	278.6			$	182.2
Precision and Science Technologies			59.3				24.6				92.2				47.8
Specialty Vehicle Technologies			41.0				-				55.1				-
High Pressure Solutions			(15.2	)			32.1				8.3				73.9
Total Segment Adjusted EBITDA		$	268.9			$	153.4			$	434.2			$	303.9
Less items to reconcile Segment Adjusted EBITDA to
(Loss) Income Before Income Taxes:
Corporate expenses not allocated to segments		$	27.7			$	7.1			$	45.2			$	18.6
Interest expense			30.8				22.4				57.9				44.8
Depreciation and amortization expense			143.0				44.4				214.1				89.9
Restructuring and related business transformation costs			32.2				2.0				74.4				6.1
Acquisition related expenses and non-cash charges			95.9				17.1				192.1				18.7
Stock-based compensation			12.7				6.2				15.7				14.8
Foreign currency transaction losses, net			5.2				0.6				7.8				3.7
Loss on extinguishment of debt			-				0.2				2.0				0.2
Shareholder litigation settlement recoveries			-				-				-				(6.0	)
Other adjustments			2.1				0.2				1.4				0.7
(Loss) Income Before Income Taxes		$	(80.7	)		$	53.2			$	(176.4	)		$	112.4

Ingersoll Rand is providing the below unaudited supplemental historical financial information of the Company on a non-GAAP adjusted basis for the quarterly period ended June 30, 2019 as well as select financial information for the periods ended March 31, 2019 and March 31, 2020 as if the Transaction was completed on January 1, 2018, to assist investors in assessing Ingersoll Rand’s historical performance on a basis that includes the combined results of operations of both Gardner Denver Holdings, Inc. and Ingersoll-Rand plc’s Industrial segment. Ingersoll Rand management believes this unaudited supplemental historical financial information helps investors understand the long-term profitability trends of its newly combined business giving effect to the Transaction and facilitates comparisons of our profitability to prior and future periods and to our peers. The supplemental historical financial information herein may not be comparable to similarly titled measures reported by other companies.

Table 1:  Unaudited Supplemental Adjusted Combined Financial Information by Segment

		For the Three Month Period Ended June 30, 2019
Ingersoll Rand
Supplemental Adjusted Orders		$	1,565.6
Supplemental Adjusted Revenue (non-GAAP)			1,595.5
Supplemental Adjusted EBITDA (non-GAAP)			313.1
Supplemental Adjusted EBITDA Margin (non-GAAP)			19.6	%
Supplemental Further Adjusted Net Income (non-GAAP)			183.3
Supplemental Further Adjusted Diluted EPS (non-GAAP)		$	0.44
Industrial Technologies & Services
Supplemental Adjusted Orders		$	1,051.6
Supplemental Adjusted Revenue (non-GAAP)			1,027.5
Supplemental Adjusted EBITDA (non-GAAP)			199.5
Supplemental Adjusted EBITDA Margin (non-GAAP)			19.4	%
Precision & Science Technologies
Supplemental Adjusted Orders		$	218.3
Supplemental Adjusted Revenue (non-GAAP)			215.5
Supplemental Adjusted EBITDA (non-GAAP)			63.4
Supplemental Adjusted EBITDA Margin (non-GAAP)			29.4	%
Specialty Vehicle Technologies
Supplemental Adjusted Orders		$	198.0
Supplemental Adjusted Revenue (non-GAAP)			233.0
Supplemental Adjusted EBITDA (non-GAAP)			37.6
Supplemental Adjusted EBITDA Margin (non-GAAP)			16.1	%
High Pressure Solutions
Supplemental Adjusted Orders		$	97.7
Supplemental Adjusted Revenue (non-GAAP)			119.5
Supplemental Adjusted EBITDA (non-GAAP)			32.6
Supplemental Adjusted EBITDA Margin (non-GAAP)			27.3	%

Table 1A:  Unaudited Supplemental Adjusted Combined Financial Information by Segment

		For the Three Month Period Ended March 31,
		2020				2019
Ingersoll Rand
Supplemental Adjusted Orders		$	1,404.5			$	1,530.8
Supplemental Adjusted Revenue (non-GAAP)			1,269.8				1,499.6
Supplemental Adjusted EBITDA (non-GAAP)			208.1				275.4
Supplemental Adjusted EBITDA Margin (non-GAAP)			16.4	%			18.4	%
Supplemental Further Adjusted Net Income (non-GAAP)			106.2				154.1
Supplemental Further Adjusted Diluted EPS (non-GAAP)		$	0.25			$	0.37
Industrial Technologies & Services
Supplemental Adjusted Orders		$	889.4			$	1,002.4
Supplemental Adjusted Revenue (non-GAAP)			795.8				976.2
Supplemental Adjusted EBITDA (non-GAAP)			135.1				180.8
Supplemental Adjusted EBITDA Margin (non-GAAP)			17.0	%			18.5	%
Precision & Science Technologies
Supplemental Adjusted Orders		$	218.3			$	218.2
Supplemental Adjusted Revenue (non-GAAP)			192.2				213.6
Supplemental Adjusted EBITDA (non-GAAP)			53.3				56.5
Supplemental Adjusted EBITDA Margin (non-GAAP)			27.7	%			26.5	%
Specialty Vehicle Technologies
Supplemental Adjusted Orders		$	213.3			$	197.6
Supplemental Adjusted Revenue (non-GAAP)			185.4				173.9
Supplemental Adjusted EBITDA (non-GAAP)			18.4				18.6
Supplemental Adjusted EBITDA Margin (non-GAAP)			9.9	%			10.7	%
High Pressure Solutions
Supplemental Adjusted Orders		$	83.5			$	112.6
Supplemental Adjusted Revenue (non-GAAP)			96.4				135.9
Supplemental Adjusted EBITDA (non-GAAP)			23.7				41.9
Supplemental Adjusted EBITDA Margin (non-GAAP)			24.6	%			30.8	%

Table 2: Unaudited Supplemental Adjusted Combined Revenue Growth/(Decline) and Orders Growth/(Decline) by Segment ⁽¹⁾

		For the Three Month
		Period Ended June 30, 2020
		Orders				Revenue
Ingersoll Rand
Organic decline (non-GAAP)			(20.9	%)			(19.3	%)
Impact of foreign currency (non-GAAP)			(1.9	%)			(1.6	%)
Impact of acquisitions (non-GAAP)			0.1	%			0.1	%
Total adjusted orders and revenue decline (non-GAAP)			(22.7	%)			(20.8	%)
Industrial Technologies & Services
Organic decline (non-GAAP)			(22.7	%)			(17.3	%)
Impact of foreign currency (non-GAAP)			(2.4	%)			(2.1	%)
Impact of acquisitions (non-GAAP)			0.1	%			0.1	%
Total adjusted orders and revenue decline (non-GAAP)			(25.0	%)			(19.3	%)
Precision & Science Technologies
Organic growth (decline) (non-GAAP)			(6.5	%)			(8.1	%)
Impact of foreign currency (non-GAAP)			(1.5	%)			(1.3	%)
Impact of acquisitions (non-GAAP)			0.2	%			0.3	%
Total adjusted orders and revenue decline (non-GAAP)			(7.8	%)			(9.1	%)
Specialty Vehicle Technologies
Organic growth (non-GAAP)			5.3	%			(6.5	%)
Impact of foreign currency (non-GAAP)			(0.1	%)			(0.1	%)
Impact of acquisitions (non-GAAP)			-	%			-	%
Total adjusted orders and revenue growth / (decline) (non-GAAP)			5.2	%			(6.6	%)
High Pressure Solutions
Organic decline (non-GAAP)			(86.8	%)			(81.9	%)
Impact of foreign currency (non-GAAP)			(0.1	%)			(0.1	%)
Impact of acquisitions (non-GAAP)			-	%			-	%
Total adjusted orders and revenue decline (non-GAAP)			(86.9	%)			(82.0	%)

Table 3:  Reconciliation of Unaudited Supplemental Adjusted Net Income and Supplemental Adjusted Diluted EPS to Unaudited Supplemental Further Adjusted Net Income and Supplemental Further Adjusted Diluted EPS

		For the Three Month Period Ended June 30, 2019
Supplemental Adjusted Net Income		$	93.6
Supplemental Adjusted Diluted Earnings Per Share		$	0.22
Plus:
Adjusted amortization of acquisition related intangible assets (a)		$	87.0
Adjusted acquisition related expenses and non-cash charges (b)			1.6
Adjusted restructuring and related business transformation costs (c)			15.1
Adjusted stock-based compensation (d)			9.1
Adjusted foreign currency transaction losses, net			1.6
Minus:
Adjusted Income tax provisions, as adjusted (e)			24.7
Supplemental Further Adjusted Net Income		$	183.3
Supplemental Further Adjusted Diluted Earnings Per Share		$	0.44
Supplemental Adjusted Diluted Shares Outstanding			420.2

Table 4:  Reconciliation of Unaudited Supplemental Adjusted Net Income to Unaudited Supplemental Adjusted EBITDA and Unaudited Supplemental Further Adjusted Net Income

		For the Three Month Period Ended June 30, 2019
Supplemental Adjusted Net Income		$	93.6
Plus:
Adjusted interest expense		$	39.3
Adjusted provision for income taxes			37.2
Adjusted depreciation expense			23.8
Adjusted amortization expense (a)			91.8
Adjusted acquisition related expenses and non-cash charges (b)			1.6
Adjusted restructuring and related business transformation costs (c)			15.1
Adjusted stock-based compensation (d)			9.1
Adjusted foreign currency transaction losses, net			1.6
Supplemental Adjusted EBITDA		$	313.1
Minus:
Adjusted interest expense		$	39.3
Adjusted income tax provision, as adjusted (e)			61.9
Adjusted depreciation expense			23.8
Adjusted amortization of non-acquisition related intangible assets (a)			4.8
Supplemental Further Adjusted Net Income		$	183.3

Table 5:  Unaudited Supplemental Adjusted Revenue by Segment and a Reconciliation of Unaudited Supplemental Segment Adjusted EBITDA to Supplemental Adjusted Income Before Income Taxes

		For the Three Month Period Ended June 30, 2019
Supplemental Adjusted Revenue
Industrial Technologies & Services		$	1,027.5
Precision & Science Technologies			215.5
Specialty Vehicle Technologies			233.0
High Pressure Solutions			119.5
Total Supplemental Adjusted Revenue		$	1,595.5
Supplemental Segment Adjusted EBITDA
Industrial Technologies & Services		$	199.5
Precision & Science Technologies			63.4
Specialty Vehicle Technologies			37.6
High Pressure Solutions			32.6
Total Supplemental Segment Adjusted EBITDA		$	333.1
Less items to reconcile Supplemental Segment Adjusted EBITDA to Supplemental Adjusted Income Before Income Taxes:
Adjusted corporate expenses not allocated to segments		$	20.0
Adjusted interest expense			39.3
Adjusted depreciation and amortization expense			115.6
Adjusted acquisition related expenses and non-cash charges (b)			1.6
Adjusted restructuring and related business transformation costs (c)			15.1
Adjusted stock-based compensation (d)			9.1
Adjusted foreign currency transaction losses, net			1.6
Supplemental Adjusted (Loss)/Income Before Income Taxes		$	130.8

Table 6:  Reconciliation of GAAP Revenue to Supplemental Adjusted Revenue by Segment and for the Company and Segment Adjusted EBITDA to Supplemental Segment Adjusted EBITDA

		For the Three Month Period Ended												For the Three Month Period Ended
		June 30, 2019												June 30, 2018
										Supplemental												Supplemental
		GAAP								Adjusted				GAAP								Adjusted
		Revenue				Adjustments (1)				Revenue				Revenue				Adjustments (2)				Revenue
Segment
Industrial Technologies & Services		$	427.6			$	599.9			$	1,027.5			$	436.4			$	632.7			$	1,069.1
Precision & Science Technologies			82.0				133.5				215.5				69.6				135.5				205.1
Specialty Vehicle Technologies			-				233.0				233.0				-				207.0				207.0
High Pressure Solutions			119.5				-				119.5				162.1				-				162.1
Total Company		$	629.1			$	966.4			$	1,595.5			$	668.1			$	975.2			$	1,643.3
										Supplemental
		Adjusted								Adjusted
		EBITDA				Adjustments (1)				EBITDA
Segment
Industrial Technologies & Services		$	96.7			$	102.8			$	199.5
Precision & Science Technologies			24.6				38.8				63.4
Specialty Vehicle Technologies			-				37.6				37.6
High Pressure Solutions			32.1				0.5				32.6
Total Segments		$	153.4			$	179.7			$	333.1

Table 7:  Reconciliation of GAAP Net (Loss) Income to Adjusted EBITDA and Supplemental Adjusted EBITDA and Supplemental Further Adjusted Net Income

		For the Three Month Period Ended
		June 30, 2019
Net Income (GAAP)		$	44.9
Plus (1):
Interest expense			22.4
Provision for income taxes			8.3
Depreciation expense			13.5
Amortization expense			30.9
Restructuring and related business transformation costs			2.0
Acquisition related expenses and non-cash charges			17.1
Stock-based compensation			6.2
Foreign currency transaction losses, net			0.6
Loss on extinguishment of debt			0.2
Other adjustments			0.2
Adjusted EBITDA (1)			146.3
Additional Segment Adjusted EBITDA Adjustments (2):
Industrial Technologies & Services		$	102.8
Precision & Science Technologies			38.8
Specialty Vehicle Technologies			37.6
High Pressure Solutions			0.5
Incremental corporate expenses not allocated to segments			(12.9	)
Supplemental Adjusted EBITDA			313.1
Minus:
Adjusted interest expense			39.3
Adjusted income tax provision, as adjusted			61.9
Adjusted depreciation expense			23.8
Adjusted amortization of non-acquisition related intangible assets			4.8
Supplemental Further Adjusted Net Income		$	183.3

Table 8:  Reconciliation of GAAP Diluted EPS to Supplemental Further Adjusted Diluted EPS

		For the Three Month
		Period Ended
		June 30, 2019
Diluted Earnings Per Share (GAAP)		$	0.21
Plus:
Effect of transaction (1)			(0.10	)
Legacy Ingersoll Rand Industrial Segment's earnings (2)			0.40
Interest expense			0.05
Provision for income taxes			0.02
Depreciation expense			0.03
Amortization expense			0.07
Restructuring and related business transformation costs			0.01
Acquisition related expenses and non-cash charges			0.04
Stock-based compensation			0.01
Minus:
Adjusted interest expense			0.09
Adjusted income tax provision, as adjusted			0.15
Adjusted depreciation expense			0.05
Adjusted amortization of non-acquisition related intangible assets			0.01
Supplemental Further Adjusted Diluted Earnings Per Share		$	0.44
Supplemental Adjusted Diluted Shares Outstanding			420.2

All supplemental financial information presented in this document represents the newly combined Ingersoll Rand giving effect to the Merger as if it happened on January 1, 2018.

(a)  Amortization expense consisted of the following:

		For the Three Month Period Ended June 30, 2019
Amortization of acquisition-related intangible assets		$	87.0
Amortization of non-acquisition related intangible assets			4.8
Total amortization expense		$	91.8

(b)  Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs (including certain incentive and non-incentive cash compensation costs), and non-cash charges and credits arising from fair value purchase accounting adjustments. The US GAAP amounts for the quarter ended June 30, 2020 include amounts related to the acquisition of IRI that were excluded from the supplemental financial information for the quarter ended June 30, 2019, the impact of which may affect comparability. A reconciliation of IRI acquisition related expenses is as follows:

		For the Three Month Period Ended June 30, 2020
Stand up costs for IRI acquisition		$	11.6
Non-cash fair value adjustments related to the purchase of IRI			82.9
Total IRI related acquisition expense		$	94.5
Non-IRI related acquisition expense			1.4
Total Acquisition related expenses and non-cash charges		$	95.9

c)  Restructuring and related business transformation costs consisted of the following:

		For the Three Month Period Ended June 30, 2019
Restructuring charges		$	13.9
Severance, sign-on, relocation and executive search costs			0.2
Facility reorganization, relocation and other costs			0.5
Information technology infrastructure transformation			0.4
Losses on asset and business disposals			(0.4	)
Consultant and other advisor fees			0.1
Other, net			0.4
Total restructuring and related business transformation costs		$	15.1

(d) Represents stock-based compensation expense recognized for stock options outstanding of $9.1 million for the quarter ended June 30, 2019.

(e)  Represents our income tax provision adjusted for the tax effect of pre-tax items excluded from Adjusted Net Income and the removal of applicable discrete tax items. The tax effect of pre-tax items excluded from Adjusted Net Income is computed using the statutory tax rate related to the jurisdiction that was impacted by the adjustment after taking into account the impact of permanent differences and valuation allowances. The income tax provision, as adjusted for each of the periods presented below consists of the following:

		For the Three Month Period Ended June 30, 2019
Provision for income taxes		$	37.2
Tax impact of pre-tax income adjustments			24.7
Income tax provision, as adjusted		$	61.9

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