Regal Beloit and Rexnord PMC Merger Update

Regal Beloit provided an update on its pending merger with Rexnord's Process & Motion Control (PMC) business. The closing is on track for the second half of 2021, all required regulatory approvals have been received, and a special shareholder meeting is scheduled for September 1, 2021. The combined entity's expected 2022 pro forma adjusted EBITDA was raised to greater than $1.0 billion.

“Update on Rexnord PMC Merger •Closing is On Track for the Second Half of 2021 •All Required Regulatory Approvals Received •Special Meeting of Shareholders Scheduled for September 1, 2021 •Raising Expected 2022 Pro Forma Adjusted EBITDA to Greater Than $1.0 Billion and Reiterating Adjusted EBITDA Margin of ~ 21%”

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