Trading Update

12 May 2026

Good first quarter performance

On track to deliver a sixth consecutive year of mid-single-digit organic revenue growth

Full year guidance reconfirmed

IMI plc ("IMI"), a global leader in fluid and motion control, issues the following trading update which covers results for the first quarter from 1 January to 31 March 2026.

Roy Twite, Chief Executive, commented:

"We have made a good start to the year, delivering organic growth across IMI in the first quarter. Our performance reflects the strength of the One IMI operating model and the benefits of our strategic focus on three megatrends - Energy, Automation and Healthcare - which are creating sustained demand across our markets and underpinning our long-term growth.

We are pleased to be reconfirming our full‑year guidance and remain on track to deliver our sixth consecutive year of mid‑single-digit organic revenue growth in 2026.

We are actively monitoring the situation in the Middle East, where the safety of our people remains our top priority. The region represented 6% of IMI's revenue in 2025, principally within Process Automation.

IMI remains well positioned, with a unique market-led approach to innovation, significant recurring high-margin aftermarket exposure and strong pricing power. Our strong balance sheet and significant cash generation continue to support investment, shareholder returns and strategic flexibility."

First quarter performance

First quarter organic revenue was 5% higher year on year. Statutory revenue in the quarter was 6% higher than last year, reflecting foreign currency movements in the period.

Automation

Automation (65% of 2025 sales) delivered organic revenue growth of 6% in the quarter.

· Process Automation (44% of 2025 sales) organic revenue was up 6% in the period. As expected, total orders were down 2% organically year-on-year, against a strong comparator. Aftermarket orders declined by 1%, reflecting several large nuclear Aftermarket orders won in the first quarter of last year as previously highlighted. Whilst the conflict in the Middle East did lead to some disruption in the region during the first quarter, the effect on orders and sales was not significant. We continue to see a strong pipeline of global opportunities, driven by the rapidly increasing demand for energy from data centres and widespread electrification.

· Industrial Automation (21% of 2025 sales) organic revenue increased by 6% year on year, benefiting from an easier comparator following the cyber incident in the first quarter of 2025. Industrial Automation is expected to be modestly higher organically in 2026.

Life Technology

Life Technology (35% of 2025 sales) organic revenue increased by 4% in the first quarter.

· Climate Control (18% of 2025 sales) organic revenue grew by 4% compared to the same period last year. Demand for energy‑efficient solutions remained supportive, including continued strength in the data centre direct liquid cooling market.

· Life Science and Fluid Control (10% of 2025 sales) organic revenue increased by 1% in the first quarter. Growth in Life Science was supported by resilient healthcare demand and further signs of stabilisation in the global life science device market. This was partially offset by the impact of mixed market conditions in Fluid Control.

· Transport (7% of 2025 sales) organic revenue was 9% higher year on year, in line with the heavy‑duty truck market. The strategic review of Transport is progressing; we are delivering significant operational improvements and continue to assess all strategic options.

Exchange rates

If exchange rates as at 1 May 2026 of US$1.36 and €1.16 remain constant for the remainder of the year, it would have no material impact on revenue and adjusted operating profit in the full year when compared to 2025.

Full year guidance reconfirmed

Following the good first quarter performance, we are reconfirming our full year guidance and remain on track to deliver our sixth consecutive year of mid-single-digit organic revenue growth in 2026. We continue to expect that full year adjusted basic earnings per share will be between 136p and 142p.

Our guidance assumes that conditions allow for planned shipments to the Middle East to be delivered by the end of the financial year. Whilst we remain alert to the potential indirect impact of the conflict, we expect to manage any inflationary pressures through price increases where necessary.

Half-year results

IMI will present its half-year results for the period ending 30 June 2026 on 31 July 2026.

A conference call for analysts and investors will be held at 08:00 BST today to discuss this statement. To access the call, please register using the link:

https://www.netroadshow.com/events/login/1PeTHmohVhEQqO7QvJPq5Kz1eqlYHIsGbuaVE

Notes

IMI plc is a global leader in fluid and motion control. Its innovative solutions, built around valves and actuators, enable vital sectors to become safer, more productive and more energy efficient. IMI combines world-class applications engineering expertise with a continued focus on commercial excellence, market-led innovation and continuous improvement to solve its customers' most acute engineering problems. IMI employs approximately 10,000 people, has manufacturing facilities in 18 countries and operates a global service network. IMI is a member of the FTSE 100 and is listed on the London Stock Exchange. Further information is available at www.imiplc.com.

References to adjusted figures reflect figures as reported to management and do not include the impact of adjusting items. References to organic changes are on a constant currency basis and exclude disposals and acquisitions.

IMI plc is registered in England No. 714275. Its legal entity identifier ('LEI') number is 2138002W9Q21PF751R30.

Brand materials can be found here.