DONALDSON acquisition history

Facet provides fuel and fluid filtration solutions for mission-critical applications, primarily in aerospace and defense and power generation. A pioneer in the jet fuel filtration market, its products are used at multiple stages of the fuel supply chain from refinery to end fueling point. Headquartered in Tulsa, OK, with 236 employees across the US and Europe and key manufacturing in Oklahoma and Spain. Acquired from Filtration Group at approximately 20.0x calendar-year-2025 EBITDA (16.6x adjusted for the present value of expected tax benefits and cost synergies). approximately $820 million.

Facet is a valuable, strategic addition to our Industrial Solutions business, increasing our exposure to attractive, durable end markets which require high-performance filtration solutions. This acquisition strengthens and diversifies our core product portfolio with new capabilities in fuel and fluid filtration including jet fuel filtration where Facet is a global pioneer.Tod Carpenter — Chairman, President and CEO, Donaldson Company

UTEC is a global producer of innovative biomanufacturing solutions for cell and gene therapy research, development and commercial manufacturing. Its offering includes the scale-X single-use structured fixed-bed bioreactor for intensified production of viruses used in cell and gene therapy and viral vaccines, and the automated NevoLine Upstream platform that integrates industry-standard filtration for up- and mid-stream processing in a single unit. EUR 134.2 million / $146.9 million (net of cash acquired).

On June 29, 2023, the Company acquired UTEC, headquartered in Nivelles, Belgium, for cash consideration of EUR 134.2 million, or $146.9 million, net of cash acquired. UTEC is a global producer of innovative biomanufacturing solutions for cell and gene therapy research, development and commercial manufacturing.Donaldson FY2023 10-K — Note 2 Acquisitions

Isolere is an early-stage biotechnology company that developed novel, proprietary IsoTag reagents and accompanying filtration processes used for the purification and streamlined manufacturing of biopharmaceuticals. Aimed initially at the purification of viral vectors used for cell and gene therapies, IsoTag reagents are designed to substantially improve product quality and purity with faster timelines compared to competing solutions. $62.3 million (net of cash acquired).

On February 17, 2023, the Company acquired Isolere, headquartered in Durham, North Carolina, for cash consideration of $62.3 million, net of cash acquired. Isolere develops reagents and accompanying filtration processes used for the purification and streamlined manufacturing of biopharmaceuticals.Donaldson FY2023 10-K — Note 2 Acquisitions

Purilogics is an early-stage biotechnology company that developed proprietary Purexa membrane chromatography products for the purification and streamlined manufacturing of biopharmaceuticals. Aimed initially at the purification of pDNA, mRNA and mAbs, the Purexa membrane platform offers competitive advantages over traditional resin and monolith technologies, enabling improved productivity, speed and production costs. approximately $19.9 million (net of cash acquired); up to $29.0 million additional contingent consideration.

On June 13, 2022, the Company acquired Purilogics, headquartered in Greenville, South Carolina, for cash consideration of approximately $19.9 million, net of cash acquired. The transaction included a maximum payout of $29.0 million in contingent consideration related to developing manufacturing capabilities, creating future technologies and attaining certain business performance results.Donaldson FY2022 10-K — Note 2 Acquisitions

Solaris designs and manufactures bioprocessing equipment, including bioreactors, fermenters and tangential flow filtration systems for use in pharma, food and beverage, biotechnology and other life sciences markets. Headquartered in Porto Mantovano, Italy, with U.S. operations based in Berkeley, California. approximately EUR 41 million / $45.7 million (net of cash acquired).

On November 22, 2021, the Company acquired Solaris, headquartered in Porto Mantovano, Italy, with U.S. operations based in Berkeley, California, for cash consideration of approximately EUR 41 million, or $45.7 million, net of cash acquired. Solaris designs and manufactures bioprocessing equipment, including bioreactors, fermenters and tangential flow filtration systems.Donaldson FY2022 10-K — Note 2 Acquisitions

PAIS provides equipment, parts and services for dust, mist and fume collection systems, industrial fans and compressed air systems. Headquartered in the U.S. approximately $3.3 million (net of cash acquired).

On November 1, 2021, the Company acquired PAIS, headquartered in the U.S., for cash consideration of approximately $3.3 million, net of cash acquired. PAIS provides equipment, parts and services for dust, mist and fume collection systems, industrial fans and compressed air systems.Donaldson FY2022 10-K — Note 2 Acquisitions

BOFA designs, develops and manufactures fume extraction systems across a wide range of industrial air filtration applications. Headquartered in the United Kingdom. Donaldson announced the agreement to acquire 88% of BOFA's shares on September 11, 2018, closed the initial purchase on October 18, 2018, increased ownership to 91% by Q4 fiscal 2019, and acquired the remaining 9% in fiscal 2021 for $8.0 million. $98.2 million for initial 88% (FY2019); stepped up to 91% with an additional ~3%, then remaining 9% for $8.0 million (FY2021); ~$101.3 million for 91% net of $2.2M cash.

On October 18, 2018, the Company acquired 88% of the shares of BOFA International LTD (BOFA), headquartered in the United Kingdom, for cash consideration of $98.2 million less cash acquired of $2.2 million. In the fourth quarter of 2019, the Company acquired an additional 3% of the shares, increasing its ownership to 91%. BOFA designs, develops and manufactures fume extraction systems across a wide range of industrial air filtration applications.Donaldson FY2019 10-K — Note 2 Acquisitions

Hy-Pro designs and manufactures filtration systems and replacement filters for stationary hydraulic and industrial lubrication applications, with manufacturing locations in Anderson, Indiana and Vancouver, Washington. $21.9 million total consideration (after a working-capital adjustment).

On May 1, 2017, the Company acquired 100% of the shares of Hy-Pro Corporation (Hy-Pro). Hy-Pro designs and manufactures filtration systems and replacement filters for stationary hydraulic and industrial lubrication applications. Total consideration for the transaction was $21.9 million after recording a working capital adjustment in accordance with the purchase agreement.Donaldson FY2018 10-K — Note 2 Acquisitions

Partmo is a leading manufacturer of replacement air, lube and fuel filters in Colombia for medium and heavy duty engines. Donaldson acquired the net assets of the business. $12.1 million total consideration.

On August 31, 2016, the Company acquired the net assets of Industrias Partmo S.A. (Partmo) in Colombia. Partmo is a leading manufacturer of replacement air, lube and fuel filters in Colombia for medium and heavy duty engines. The total consideration for the transaction was $12.1 million.Donaldson FY2018 10-K — Note 2 Acquisitions