Vertiv Holdings Co

Operating profit (loss) is the primary income measure used by the chief operating decision maker (“CODM”) to assess segment performance and make operating decisions. Segment performance is assessed exclusive of Corporate and other costs, foreign currency gain (loss), and amortization of intangibles. Corporate and other costs primarily include headquarter management costs, asset impairments and costs that support centralized global functions including Finance, Treasury, Risk Management, Strategy & Marketing, Legal, and global product platform development and offering management.

Beginning in 2024, the Company allocated centralized engineering, research and development, and information technology costs from Corporate to the respective business segment. These costs were previously included in Corporate and other in our reportable business segment disclosures. Prior year amounts have been reclassed to conform with the current year presentation. Refer to Exhibit 99.2 to Vertiv's current report on Form 8-K filed on February 21, 2024, for a summary of changes made to conform with the current year presentation of the operating profit (loss) for each reportable business segment.

The Company determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the CODM, which includes determining resource allocation methodologies used for reportable segments. During 2023, we reorganized our internal reporting and realigned our operating segment structure to how our CODM, our Chief Executive Officer, allocates resources and makes decisions. The changes resulted in the identification oftwo new operating segments, 1) India and 2) Asia, which previously were collectively reported as our legacy Australia & New Zealand, South East Asia and India operating segment. Given the similarities of economic characteristics and other qualitative factors, we aggregate these operating segments with Greater China and we report this as our Asia Pacific reportable segment.

In conjunction with the realignment, the Company concluded the new operating segments also comprised reporting units and the company tested goodwill for impairment for each reporting unit both immediately before and immediately after the business realignment. The Company allocated goodwill to thetwo new reporting units based on their relative fair value. The goodwill impairment tests under both the legacy and new reporting unit structures concluded thatno impairment existed as of the date of the change.

The segment performance measure excludes corporate and other costs, as described herein. Intersegment selling prices approximate market prices. Summarized information about the Company’s results of operations by reportable business segment and product and service offering follows:

Americas includes products and services sold for applications within the data center, communication networks and commercial and industrial markets in North America and Latin America. This segment’s principal product and service offerings include:

•Products includes AC and DC power management, thermal management, low/medium voltage switchgear, busbar, integrated modular solutions, racks, single phase UPS, rack power distribution, rack thermal systems, configurable integrated solutions, energy storage solutions, hardware, and software for managing I.T. equipment.

•Services & spares includes preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software.

Asia Pacific includes products and services sold for applications within the data center, communication networks and commercial and industrial markets throughout Greater China, Australia & New Zealand, South East Asia, and India. Products and services offered are similar to the Americas segment.

Europe, Middle East & Africa includes products and services sold for applications within the data center, communication networks and commercial and industrial markets in Europe, Middle East & Africa. Products and services offered are similar to the Americas segment.

Reportable Business Segments

(3) Comparative results for Americas, Asia Pacific, Europe, Middle East & Africa, Corporate and other have been adjusted by ($196.4), ($101.1), ($82.3) and $379.8, respectively, to allocate centralized engineering, research and development, and information technology costs from Corporate to the respective business segment.

(3) Comparative results for Americas, Asia Pacific, Europe, Middle East & Africa, Corporate and other have been adjusted by ($187.9), ($97.5), ($78.0), and $363.4, respectively, to allocate centralized engineering, research and development, and information technology costs from Corporate to the respective business segment.

Sales in China were $763.0, $682.9, and $746.3 for the years ended December 31, 2024, 2023, and 2022, respectively.