FRANKLIN ELECTRIC CO Business Summary

Franklin Electric Co., Inc. (FELE) is a global leader in the design, manufacture, and distribution of systems and components for the movement and protection of water, fuel, and electricity. The company generates revenue through three primary business segments: Water Systems, Energy Systems, and Distribution. The Water Systems segment provides submersible motors, pumps, drives, and controls for residential, agricultural, and industrial applications, while the Energy Systems segment (formerly Fueling Systems) focuses on specialized hardware and electronic monitoring for fueling infrastructure and critical power. The Distribution segment, operating largely through the Headwater Companies brand, provides a vertically integrated channel for groundwater professionals. Franklin Electric maintains a dominant market position in submersible motor technology and competes directly with Xylem Inc., Pentair plc, and Dover Corporation. Its competitive advantage is rooted in its niche specialization in groundwater pumping and its extensive proprietary distribution network, which ensures high customer proximity and service reliability. Founded in 1944 by Edward J. Schaefer and T. Wayne Kehoe, Franklin Electric is currently led by Chief Executive Officer Joe Ruzynski, who assumed the role in July 2024 after serving as a senior executive at nVent and Pentair. The executive leadership team includes Jennifer Wolfenbarger, who was appointed Vice President and Chief Financial Officer in July 2025 following senior financial roles at Owens Corning and Stryker, and Jonathan M. Grandon, the Chief Administrative Officer and General Counsel. The company’s strategic direction is overseen by Chairperson Jennifer L. Sherman, who also serves as the CEO of Federal Signal Corporation. Notable board members include Mark A. Carano, CFO of SPX Technologies, reflecting a board with deep industrial and financial expertise. The company maintains strong institutional backing from major investors such as BlackRock, Vanguard, and T. Rowe Price, supporting its long-term strategy of organic innovation and disciplined inorganic growth through strategic acquisitions.