On this page of StockholderLetter.com we present the latest annual shareholder letter from Atmus Filtration Technologies Inc. — ticker symbol ATMU. Reading current and past ATMU letters to shareholders can bring important insights into the investment thesis.
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Invitation to 2026 Annual Meeting of Stockholders Dear Fellow Stockholder: We are pleased to invite you to join us, our Board of Directors, executive officers, associates and other stockholders at Atmus' 2026 Annual Meeting of Stockholders. The attached notice of our 2026 Annual Meeting of Stockholders and Proxy Statement, which we are providing to stockholders beginning on March 30, 2026, contain details of the stockholder business to be conducted at the meeting. A Year of Strong Performance and Momentum at Atmus 2025 was a defining year for Atmus. We delivered strong performance in the face of challenging global markets, while completing our transition to full operational independence and advancing the strategy we set as a newly public company. These results are a direct reflection of our people their expertise, dedication and relentless commitment to delivering premium, trusted filtration solutions to our customers every day. What did we accomplish in 2025? Delivered strong financial results and executed our growth strategy Delivered 5.7% organic growth in 2025, building on the momentum we created in our first full year as an independent public company, with the benefits of pricing actions and share gains more than offsetting market headwinds. Disciplined execution led to reporting $353.5 million of Adjusted EBITDA, growth of 7.3% compared to prior year. This result reflects growth from our customer focus, cost reductions through the continued execution of our supply chain transformation and effective mitigation of tariffs by our team. Delivered value to shareholders through a consistent and deliberate approach to capital allocation. We invested in growth, both organic and inorganic, as our priority. We returned $78 million to shareholders through dividends of $17 million and share repurchases of $61 million. Expansion into Industrial Filtration Announced the definitive agreement to acquire Koch Filter in December 2025 and closed the acquisition in early January 2026. As part of this acquisition, we entered into an Amended and Restated $1.5 billion Credit Agreement. This acquisition marks a significant milestone for Atmus by establishing its industrial air filtration platform and providing access to an existing customer base across attractive and growing end markets, including commercial and industrial HVAC, data centers and power generation. Completed our separation and transformed our supply chain Completed our multi-year separation from Cummins and achieved operational independence, gaining direct control of our systems, processes and global distribution network so we can serve customers with greater speed, reliability and consistency. Continued our supply chain transformation, operating Atmus controlled distribution centers around the world that bring us closer to customers, improve product availability and reduce backorders. These steps deliver on the third pillar of our strategy transforming our supply chain and strengthen our ability to deliver with excellence in any market environment. 2
Invested in our people, culture and purpose In 2025, we continued to embed The Atmus Way how we live and lead at Atmus bringing our purpose, values and behaviors to life through the everyday actions of our people. Achieved the milestone of two years without a serious injury and reduced recordable injuries by 35% to achieve a total recordable incident rate of 0.67, reflecting our Safety Motivated mindset and our value to show caring for one another. This achievement also reinforces just how much safety is embedded in our company culture. Expanded leadership development through programs such as our Executive Development Program and Leadership Foundations and continued to build an inclusive culture and workplace for our employees around the world. Published our first Sustainability Report highlighting the many ways our teams are creating a better future by protecting what is important for our people, our customers and our communities. Our culture is anchored in our values Build Trust. Be Inclusive. Have Courage. Show Caring. We believe this people-first mindset is essential to unlocking our full potential. Together, these achievements reflect disciplined execution of our strategy: growing share in first fit in our core markets, accelerating profitable growth in the aftermarket, transforming our supply chain and expanding into industrial filtration markets. We believe this clear strategy, combined with our strong culture and purpose, positions Atmus well for the years ahead. Our commitment to governance and shareholder engagement As we enter the first full year operating under our enhanced governance framework, we are demonstrating that shareholder input meaningfully shapes our direction. In our first year as an independent public company, investors expressed clear views regarding certain governance provisions. We took that feedback seriously and implemented thoughtful changes in year two to strengthen alignment and accountability. This year begins the transition to a fully declassified Board by 2028. We remain committed to evolving our governance practices in line with shareholder expectations and recognized best practices, reinforcing our focus on transparency, oversight and long-term value creation. On behalf of the Board of Directors and the entire Atmus leadership team, thank you for your continued investment in and support of Atmus. We are proud of what we accomplished together in 2025 and are energized by the opportunities ahead to continue creating a better future by protecting what is important. Steph Disher Chief Executive Officer Steve Macadam Chair of the Board *For a reconciliation of non-GAAP performance measures to the most directly comparable financial measures calculated in accordance with U.S. GAAP, see Appendix A. 3
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ATMU Shareholder/Stockholder Letter Transcript:

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Invitation to 2026 Annual Meeting of Stockholders
Dear Fellow Stockholder:
We are pleased to invite you to join us, our Board of Directors, executive officers, associates and other stockholders at Atmus' 2026
Annual Meeting of Stockholders. The attached notice of our 2026 Annual Meeting of Stockholders and Proxy Statement, which we
are providing to stockholders beginning on March 30, 2026, contain details of the stockholder business to be conducted at the
meeting.
A Year of Strong Performance and Momentum at Atmus
2025 was a defining year for Atmus. We delivered strong performance in the face of challenging global markets, while completing
our transition to full operational independence and advancing the strategy we set as a newly public company. These results are a
direct reflection of our people     their expertise, dedication and relentless commitment to delivering premium, trusted filtration
solutions to our customers every day.
What did we accomplish in 2025?
Delivered strong financial results and executed our growth strategy
   Delivered 5.7% organic growth in 2025, building on the momentum we created in our first full year as an independent public
company, with the benefits of pricing actions and share gains more than offsetting market headwinds.
   Disciplined execution led to reporting $353.5 million of Adjusted EBITDA, growth of 7.3% compared to prior year. This result
reflects growth from our customer focus, cost reductions through the continued execution of our supply chain transformation and
effective mitigation of tariffs by our team.
   Delivered value to shareholders through a consistent and deliberate approach to capital allocation. We invested in growth, both
organic and inorganic, as our priority. We returned $78 million to shareholders through dividends of $17 million and share
repurchases of $61 million.
Expansion into Industrial Filtration
   Announced the definitive agreement to acquire Koch Filter in December 2025 and closed the acquisition in early January 2026. As
part of this acquisition, we entered into an Amended and Restated $1.5 billion Credit Agreement. This acquisition marks a
significant milestone for Atmus by establishing its industrial air filtration platform and providing access to an existing customer base
across attractive and growing end markets, including commercial and industrial HVAC, data centers and power generation.
Completed our separation and transformed our supply chain
   Completed our multi-year separation from Cummins and achieved operational independence, gaining direct control of our
systems, processes and global distribution network so we can serve customers with greater speed, reliability and consistency.
   Continued our supply chain transformation, operating Atmus controlled distribution centers around the world that bring us closer to
customers, improve product availability and reduce backorders.
   These steps deliver on the third pillar of our strategy     transforming our supply chain     and strengthen our ability to deliver with
excellence in any market environment.
2

Invested in our people, culture and purpose
   In 2025, we continued to embed    The Atmus Way        how we live and lead at Atmus     bringing our purpose, values and behaviors
to life through the everyday actions of our people.
   Achieved the milestone of two years without a serious injury and reduced recordable injuries by 35% to achieve a total recordable
incident rate of 0.67, reflecting our Safety Motivated mindset and our value to show caring for one another. This achievement also
reinforces just how much safety is embedded in our company culture.
   Expanded leadership development through programs such as our Executive Development Program and Leadership Foundations
and continued to build an inclusive culture and workplace for our employees around the world.
   Published our first Sustainability Report highlighting the many ways our teams are creating a better future by protecting what is
important for our people, our customers and our communities.
   Our culture is anchored in our values     Build Trust. Be Inclusive. Have Courage. Show Caring. We believe this people-first
mindset is essential to unlocking our full potential.
Together, these achievements reflect disciplined execution of our strategy: growing share in first fit in our core markets, accelerating
profitable growth in the aftermarket, transforming our supply chain and expanding into industrial filtration markets. We believe this
clear strategy, combined with our strong culture and purpose, positions Atmus well for the years ahead.
Our commitment to governance and shareholder engagement
As we enter the first full year operating under our enhanced governance framework, we are demonstrating that shareholder input
meaningfully shapes our direction. In our first year as an independent public company, investors expressed clear views regarding
certain governance provisions. We took that feedback seriously and implemented thoughtful changes in year two to strengthen
alignment and accountability. This year begins the transition to a fully declassified Board by 2028. We remain committed to evolving
our governance practices in line with shareholder expectations and recognized best practices, reinforcing our focus on
transparency, oversight and long-term value creation.
On behalf of the Board of Directors and the entire Atmus leadership team, thank you for your continued investment in and support
of Atmus. We are proud of what we accomplished together in 2025 and are energized by the opportunities ahead to continue
creating a better future by protecting what is important.
Steph Disher
Chief Executive Officer
Steve Macadam
Chair of the Board
*For a reconciliation of non-GAAP performance measures to the most directly comparable financial measures calculated in
accordance with U.S. GAAP, see Appendix A.
3


shareholder letter icon 3/30/2026 Letter Continued (Full PDF)
 

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