Chart closes $300M sale of Roots to Ingersoll Rand; proceeds cut debt

CHART INDUSTRIES INC

Sale closed for $300M all-cash, low-teens adjusted EBITDA multiple.
Proceeds used for debt paydown; net leverage target 2.5-2.9X by mid-2024.
Roots moved to discontinued operations effective March 17, 2023.
Pro forma net leverage ratio 3.72X as of June 30 after divestiture and expected Cofimco cash.
Chart reaffirms year-one cost synergy target of $175M and commercial synergy target of $150M.

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