NORDSON CORP

Liquidity and Capital Resources

Cash and cash equivalents decreased $6,425 during the six months ended April 30, 2026. Approximately 71 percent of our consolidated cash and cash equivalents were held at various foreign subsidiaries as of April 30, 2026.

A comparison of cash flow changes for the six months ended April 30, 2026 to the six months ended April 30, 2025 is as follows:

The increase in operating assets and liabilities was principally driven by an increase in inventory, partially offset by an increase in cash provided by accounts receivable collections. During the six months ended April 30, 2026, the Company was able to utilize its strong cashflow generation to repay $107 million of debt, repurchase $129 million in common shares, pay $92 million in dividends, and fund capital projects to drive organic growth.

We have a $1,200,000 Revolving Credit Facility that matures in January 2031. At April 30, 2026, we had $295,000 outstanding under the Revolving Credit Facility.

Our operating performance, balance sheet position and financial ratios for the six months ended April 30, 2026 remained strong. We were in compliance with all covenants in the agreements governing our debt as of April 30, 2026. We believe the Company is well-positioned to manage liquidity needs that arise from working capital requirements, capital expenditures, contributions related to pension and postretirement obligations, principal and interest payments on our outstanding debt, dividends, and share repurchases. Our primary sources of capital to meet these needs, as well as other opportunistic investments, are a combination of cash on hand, which was $102,017 as of April 30, 2026, cash provided by operations, which was $321,101 for the six months ended April 30, 2026, and available borrowings under our loan agreements and unused bank lines of credit, which totaled $1,050,604 as of April 30, 2026. Cash from operations, which when combined with our available borrowing capacity and ready access to capital markets, is expected to be more than adequate to fund our liquidity needs over the twelve months and the foreseeable future thereafter. The Company believes it has the ability to generate and obtain adequate amounts of cash to meet its short-term and long-term needs for cash. However, the impact of international conflicts, changes in trade policies, tariffs, and other import/export regulations of the United States and other nations could negatively impact our cash flow from operations and liquidity in future periods.

Safe Harbor Statements Under the Private Securities Litigation Reform Act of 1995

This Quarterly Report on Form 10-Q, particularly “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, income, earnings, cash flows, changes in operations, operating improvements, businesses in which we operate and the United States and global economies. Statements in this quarterly report that are not historical are hereby identified as “forward-looking statements” and may be indicated by words or phrases such as “anticipates,” “supports,” “plans,” “projects,” “expects,” “believes,” “should,” “would,” “could,” “hope,” “forecast,” “management is of the opinion,” use of the future tense and similar words or phrases. These forward-looking statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic and political conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions and the Company’s ability to complete and successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements, including changes in tariffs by the United States or other nations; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflicts in Europe and the Middle East, acts of terror, natural disasters and pandemics.

In light of these risks and uncertainties, actual events and results may vary significantly from those included in or contemplated or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Factors that could cause our actual results to differ materially from the expected results are discussed in Part I, Item 1A, Risk Factors in our 2025 Form 10-K and Part II, Item 1A, Risk Factors in the Quarterly Report on Form 10-Q.