MSA Safety Incorporated : Q1 2022 Non-GAAP

Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)

Consolidated

Three Months Ended March 31, 2022

Breathing ApparatusFirefighter Helmets and Protective ApparelIndustrialPortable

Head Protection

Gas DetectionFixed Gas and Flame Detection*

Fall

Non-Core

Protection Core Sales

SalesNet SalesGAAP reported sales change

• 1 %

  • 5 %

    • 9% (2)%

      Plus: Currency translation effects

• 2 %

• 2 %

• 1% 1%

38 % 2%

(6)%

2%

• 10 % 1%

  (12)%

  • 7 %

    3%

  • 2 %

    Constant currency sales change

    3 %

    7 %

    10 %

    (1)%

    40 %

    (4)%

• 11 %

(9)%

• 9 %

  Less: Acquisitions Organic constant currency sales change

  - %

  - %

  - %

  - %

  28 %

  - %

  • 6% - %

• 5 %

  3 %

  7 %

  10 %

  (1)%

  12 %

  (4)%

  • 5% (9)%

• 4 %

*Fixed Gas and Flame Detection includes the impact of the Bacharach acquisition completed on July 1, 2021.

Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)

Americas Segment

Three Months Ended March 31, 2022

Breathing ApparatusFirefighter Helmets and Protective ApparelIndustrialPortable

Head Protection

Gas DetectionFixed Gas and Flame Detection*

Fall ProtectionCore Sales

Non-Core

SalesNet SalesGAAP reported sales change

• 5 % (4)%

  Plus: Currency translation effects

• 1 % - %

11 % - %

• - % 47 %

  • 3% 11 %

    (19)%

    • 8 %

• - % - %

• 1% 1%

- %

• 1 %

  Constant currency sales change

  6 %

  (4)%

  11 %

  • - %

    47 %

    4%

    12 %

    (19)%

• 9 %

  Less: Acquisitions Organic constant currency sales change

  - %

  - %

  - %

  • - %

    33 %

    - %

    • 7% - %

• 6 %

  6 %

  (4)%

  11 %

  • - %

  14 %

  4%

  • 5% (19)%

• 3 %

*Fixed Gas and Flame Detection includes the impact of the Bacharach acquisition completed on July 1, 2021.

Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Constant currency revenue growth (Unaudited)

International Segment

Three Months Ended March 31, 2022

Breathing ApparatusFirefighter Helmets and Protective ApparelIndustrialPortable

Head Protection

Gas DetectionFixed Gas and Flame Detection*

Fall

Non-Core

Protection Core Sales

SalesNet SalesGAAP reported sales change

(8)%

Plus: Currency translation effects

5 %

35 % 9 %

• 4% (7)%

• 4% 5%

24 % 3%

(20)%

• 6% - %

• 5 %

  3%

  5%

  6%

• 5 %

Constant currency sales change

(3)%

44 %

8%

(2)%

27 %

(17)%

11 %

• 6% 10 %

Less: Acquisitions Organic constant currency sales change

- %

- %

- %

- %

19 %

- %

• 6% - %

  • 5 %

    (3)%

    44 %

    8%

    (2)%

    8%

    (17)%

• 5% 6%

• 5 %

*Fixed Gas and Flame Detection includes the impact of the Bacharach acquisition completed on July 1, 2021.

Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures

Constant currency revenue growth (Unaudited)

Consolidated

Three Months Ended March 31, 2022

Fixed Gas

Firefighter

Safetyand Flame Detection*Industrial

Non-Core

Core PPE Core Sales

SalesNet SalesGAAP reported sales change

• 3 % 38 %

  • 1% 10 %

    (12)% 7%

    Plus: Currency translation effects Constant currency sales change

• 2 % 2%

• 1% 1%

3% 2%

5 %

40 %

2%

11 %

(9)% 9%

Less: Acquisitions Organic constant currency sales change

- %

28 %

- %

6%

- % 5%

5 %

12 %

2%

5%

(9)% 4%

*Fixed Gas and Flame Detection includes the impact of the Bacharach acquisition completed on July 1, 2021.

MSA Safety Incorporated Segment Information (Unaudited)

(In thousands, except percentage amounts)

AmericasInternationalCorporateConsolidatedThree Months Ended March 31, 2022 Sales to external customers Operating income Operating margin %

$ 225,648

$ 105,044

$

-

$ 330,692 42,668

12.9 %Restructuring charges 2,189

Currency exchange losses, net 3,271

Product liability expense 2,772

Acquisition related costs (a) 2,943

Adjusted operating income (loss) Adjusted operating margin %

52,435 23.2 %

• 9,024 (7,616) 53,843

  8.6 %

  16.3 %Depreciation and amortization (b) 11,829

  Adjusted EBITDA

  Adjusted EBITDA margin %

  60,796 26.9 %

• 12,362 (7,486) 65,672

11.8 %

19.9 %

Three Months Ended March 31, 2021 Sales to external customers Operating income Operating margin %

$ 208,340

$ 100,088

$

-

Restructuring charges

$ 308,428 44,083 14.3 % 1,308

Currency exchange gains, net (2,099)

Product liability expense 2,796

Acquisition related costs (a) 1,373

Adjusted operating income (loss) Adjusted operating margin %

45,195 21.7 %

• 8,792 (6,526) 47,461

  8.8 %

  15.4 %Depreciation and amortization 10,504

  Adjusted EBITDA

  Adjusted EBITDA margin %

  52,229 25.1 %

• 12,165 (6,429) 57,965

12.2 %

18.8 %

*Prior period has been adjusted to reflect the change in inventory accounting method, as described in the Company's fiscal 2021 Annual Report on Form 10-K. Adjustments were made to Americas and International.

(a) Acquisition related costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during due diligence and integration. These costs are included in selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income. Acquisition related costs also include the acquisition related amortization, which is included in cost of products sold in the unaudited Condensed Consolidated Statements of Income.

(b) Excludes acquisition related amortization, which is included in acquisition related costs above.