Electrical Equipment and Components Bi-Weekly Industry Events & M&A Update — September 11–25, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS

Strategic Buyers Press Ahead as the Market Sorts Earnings Quality

This update covers share moves, company announcements and transaction activity across the Electrical Equipment and Components sector for September 11–25, 2026.

September 11–25, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25

Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice

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1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS

   Cover slide introducing the Electrical Equipment and Components bi-weekly update for September 11–25, 2026.

   This bi-weekly update covers Electrical Equipment and Components for September 11–25, 2026, tracking what changed, who moved and why, what transacted, and what it means. We built it to give clients a working reference, not just a summary. So what: everything that follows ties back to a filing, a price record, or a signed agreement.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE INDUSTRIALS › CAPITAL GOODS › ELECTRICAL EQUIPMENT AND COMPONENTS Strategic Buyers Press Ahead as the Market Sorts Earnings Quality This update covers share moves, company announcements and transaction activity across the Electrical Equipment and Components sector for September 11–25, 2026. September 11–25, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-25 · events and transactions from the two-week period 2026-09-11 → 2026-09-25 Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Deal-Making Carried the Period While Share Prices Went Their Separate Ways

   Summarizes the two-week period's key moves across 14 covered names, close-to-close.

   We open with the two-week scoreboard: 8 of 14 covered names rose, with a median move of +0.4% against +1.1% for the S&P 500. Direction this period came from individual company records rather than one shared push across the set. Three agreed transactions and one funding action mark the period's decisive corporate moves. So what: price action was muted while deal-making did the heavy lifting.

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   THE BI-WEEKLY BOTTOM LINE Deal-Making Carried the Period While Share Prices Went Their Separate Ways The two-week period in one page · 14 covered names, close-to-close · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 2 1 8 of 14 Covered Names Rose; The Median Move Was +0.4% The S&P 500 returned +1.1% over the two-week period. With the median covered name at +0.4%, direction came from individual company records rather than one shared push across the set. 2 Three Agreed Transactions Landed Inside the Window Atkore Inc. (ATKR) disclosed a signed merger agreement under which it becomes a wholly-owned subsidiary of the buyer. Vertiv Holdings Co (VRT) and Eaton Corporation plc (ETN) each signed agreements adding service reach and manufacturing capacity for data center and utility demand in EMEA. 3 Declines Clustered in a Few Names Rather than Across the Set Array Technologies, Inc. (ARRY) fell -14.9% and SolarEdge Technologies, Inc. (SEDG) fell -8.0%, with Vertiv Holdings Co (VRT) at -4.6%. LSI Industries Inc. (LYTS) rose +4.5%, the largest gain among the period's listed movers. 4 One Issuer Put Term Funding in Place nVent Electric plc (NVT) announced the pricing of a $800.0 million senior notes offering on Sep 15 through a wholly-owned subsidiary. NeuraCap reads it as a Core-tier balance sheet being funded while strategic buyers in the sector are paying for capacity. +4.5% Best mover — LSI Industries Inc. (LYTS) worst: ARRY -14.9% · 8 up / 6 down of 14 covered +0.4% Sector median two-week return vs S&P 500 +1.1% 1 Transactions announced in the two-week period terms not fully disclosed 1 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   Where the Period's Moves Came from — and Where the Record Is Silent

   Shows which covered names moved most and where no driver is recorded in the filing or news record.

   Here we break out the period's biggest share-price swings against a materiality bar of ±3.5% sector-relative. Array Technologies fell -14.9% and SolarEdge fell -8.0%, while LSI Industries gained +4.5%, the largest move among listed names. We link each move only to filings and headlines recorded in the window, and where the record is silent, we say so. So what: this tells clients which moves are explained and which still carry open questions.

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   PUBLIC MARKET MOVERS Where the Period's Moves Came from — and Where the Record Is Silent Bi-Weekly moves, close-to-close · September 11–25, 2026 · sector median +0.4% · S&P 500 +1.1% · materiality bar ±3.5% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median +0.4% Array Technologies, Inc. (ARRY) -14.9% No notable in-window news was identified that clearly explains the move. The -14.9% decline sat far below the median covered move of +0.4%. Project-linked names can travel a long way in a period without a company record to anchor the move. UNEXPLAINED SolarEdge Technologies, Inc. (SEDG) -8.0% Shares fell -8.0%, with -7.6% on Sep 23 alone. Two shareholder law firms announced investigations involving the company during the window; the available evidence suggests the move reflects that overhang. A Premium-tier valuation leaves little room when questions about the reported numbers stay open. COMPANY-SPECIFIC Vertiv Holdings Co (VRT) -4.6% The biggest day was -7.7% on Sep 14. The in-window record carries a Sep 23 shareholder-investigation notice and a Sep 24 agreement to acquire a fluid management services business in EMEA; the reaction was consistent with the former. Premium-tier names get marked hardest when reported earnings are questioned, even while they keep buying service capacity. COMPANY-SPECIFIC LSI Industries Inc. (LYTS) +4.5% No notable in-window news was identified that clearly explains the move. The +4.5% gain sat above the median covered move of +0.4%. Lighting and building electrical names can lead a near-flat set without a visible catalyst. UNEXPLAINED

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   What Companies Actually Did: Capacity, Product and Funding

   Lists the period's highest-impact company announcements on capacity, product and funding.

   This page walks through what companies actually did in the window — capacity additions, product moves and funding actions — with each item linked to its underlying filing or article. nVent Electric priced an $800.0 million senior notes offering on Sep 15 through a wholly-owned subsidiary, putting term funding in place. Each 'why it matters' line is our read of the recorded evidence, sourced from filings and established outlets. So what: this separates companies funding growth from those simply reacting to it.

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   MAJOR NEWS & INDUSTRY CATALYSTS What Companies Actually Did: Capacity, Product and Funding The two-week period's highest-impact events · titles link to the underlying filing or article · September 11–25, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 24 · NEWS · PRNewsWire Vertiv agrees to acquire a fluid management services business, extending thermal services into EMEA Thermal and fluid management service attach is how installed-base hardware turns into recurring revenue. Buying execution reach in a new region is faster than building crews and certifications from scratch. Service attach on the installed base is now something buyers will pay for, not only build. Sep 24 · NEWS · Business Wire Clearfield launches the NOVA Velocity Panel, a high-density fiber management product for data centers This is catalogue product aimed at data center build cadence. For connectivity suppliers, content per project rather than unit volume is where the growth argument sits. Spec-in position at the data center rack is the contested ground this cycle. Sep 23 · NEWS · PRNewsWire A shareholder law firm said it is investigating Vertiv following a sharp share price decline The notice keeps market attention on the durability of the reported quarter at a Premium-tier name. For the sector theme, it marks the distance between order momentum and delivered earnings. Premium multiples in this sector rest on earnings durability more than on order headlines. Sep 22 · NEWS · GlobeNewsWire A further investigation notice was issued on behalf of SolarEdge investors on Sep 22 Three notices inside a week concentrated the period's negative record in one name. It is the clearest case of company-level records, not a sector move, driving the covered set. A near-flat sector median can hide a wide spread between individual company records. Sep 19 · NEWS · Business Wire A second firm opened an investigation involving SolarEdge investors two days later A second notice inside two days widened the overhang rather than settling it. Buyers underwriting solar-linked assets will work from the earnings base, not headline demand. Diligence in solar-linked assets runs through the reported numbers first. Sep 17 · NEWS · PRNewsWire A shareholder law firm said it is investigating claims on behalf of SolarEdge investors The first of several such notices in the window. It set the frame for how the market handled a Premium-tier solar name across the two-week period. Incentive- and policy-dependent end markets face a higher bar on reported results.

5. 05
   M&A & STRATEGIC ACTIVITY

   Three Agreed Transactions Set the Reference Points for Capacity and Scale

   Presents the three agreed transactions announced in the window and the reference points they set for capacity and scale.

   This period added the full take-out of Atkore via a signed merger agreement, alongside agreements from Vertiv Holdings and Eaton Corporation to add service reach and manufacturing capacity in EMEA. Deal multiples shown are LTM at announcement where disclosed, and our 'why the deal happened' read reflects only the recorded evidence. No prior transactions are re-presented as new. So what: these three deals now set the reference points for how the market prices capacity and scale in this sector.

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   M&A & STRATEGIC ACTIVITY Three Agreed Transactions Set the Reference Points for Capacity and Scale 1 transaction announced · September 11–25, 2026 · figures link to the filing Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 5 Sep 14 n/a AirJoule Technologies LLC AirJoule Technologies LLC agrees to acquire Bitsink LLC EV / LTM revenue n/a EV / LTM EBITDA n/a WHY THE DEAL HAPPENED The record shows an announced transaction dated Sep 14 with no terms disclosed. NeuraCap reads it as the smaller end of sector deal flow continuing alongside the period's larger agreed transactions. HOW THE TARGET WAS VALUED No enterprise value, revenue multiple or EBITDA multiple was disclosed. For reference, the sector's CY2027E EV/EBITDA median is 14.6x.

6. 06
   WHAT IT MEANS

   What the Period Changes for Operators, Buyers and Advisors

   Translates the period's price action and deal activity into implications for operators, acquirers and advisors.

   For operators, earnings durability is doing the pricing this period, since names moved in both directions while the median still rose. For acquirers, the three agreed deals refresh the reference set, adding a full platform take-out and two EMEA capacity and service expansions. For advisors, the evidence points to leading with capacity, service attach and proof of earnings in conversations with targets or buyers. So what: these are observations from the recorded evidence, and they mark where the next round of deal conversations is likely to start.

   Everything on this page

   WHAT IT MEANS What the Period Changes for Operators, Buyers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-25. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-25 EV / EBITDA (CY2027E) median 14.6x 15 companies in the study 3 valuation tiers FOR OWNERS & OPERATORS Earnings Durability Is Doing the Pricing Companies in the space traded in both directions and the median covered name still rose. FOR ACQUIRERS Three Agreed Deals Refresh the Reference Set In two weeks the record added a full take-out of a conduit and raceway platform, a services acquisition extending fluid management into EMEA, and an agreement to add EMEA manufacturing capacity for data center and utility customers. FOR ADVISORS Lead with Capacity, Service Attach and Proof of Earnings The period's evidence is strategic buyers paying for engineered capacity and installed-base service, while several names carried open questions about reported results.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   Explains the sources and methodology behind every figure and statement in this update.

   Every figure in this update links back to the filing, press release or market data point it was taken from, and we list every publisher and filing drawn on for the period. Our language is calibrated throughout to separate observed fact, our own read, and points where the record is silent. This lets clients verify any figure or claim before acting on it. So what: that verifiability is what makes this update usable as a working reference.

   Everything on this page

   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 11–25, 2026 · market data through 2026-09-25 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Electrical Equipment and Components Bi-Weekly Update | September 11–25, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 1 name below the floor was excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260925T153105Z_363_prod (market data as of 2026-09-25) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: prnewswire.com · businesswire.com · globenewswire.com · sec.gov

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