Crane Holdings files Form 10 for spin-off; on track for April 3, 2023 completion

Crane NXT, Co.

Crane Company (Aero & Electronics, Process Flow, Engineered Materials) expects ~$1.9B sales, 18.5% pre-corporate EBITDA margin.
Crane NXT (Payment & Merchandising Tech) expects ~$1.4B sales, ~30% pre-corporate EBITDA margin; to trade as 'CXT'.
Spin-off via tax-free distribution; shareholder approval not required; completion subject to Form 10 effectiveness and board approval.
Investor conferences for both companies scheduled for March 9, 2023 in New York City.
Max Mitchell to lead Crane Company as CEO; Aaron Saak to lead Crane NXT.

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