DONALDSON Co INC (NYSE: DCI)

Donaldson Company Inc. is a global leader in technology-led filtration products and solutions, serving a diverse range of industries and advanced markets. The company operates more than 150 locations across six continents, with 77 of these being manufacturing and/or distribution centers. Donaldson's skilled employees partner with customers, from small business owners to the world's largest original equipment manufacturers (OEMs), to solve complex filtration challenges. The company's solutions are chosen for their stringent technical and performance requirements, reliability, and value proposition.

Donaldson generates revenue through the sale of a wide array of filtration products and solutions. Key product lines include air and liquid filtration systems, emissions control systems, and various industrial filtration solutions. The company's primary products are organized into three main segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Mobile Solutions, which accounted for 62.1% of net sales in fiscal 2025, includes replacement filters for air and liquid filtration applications, as well as filtration housings for new equipment production and systems related to exhaust and emissions. Industrial Solutions, representing 29.9% of net sales, offers a broad range of products such as dust, fume, and mist collectors, compressed air and industrial gases purification systems, and hydraulic and lubricated rotating filtration applications. The Life Sciences segment, contributing 8.0% of net sales, provides micro-environment gas and liquid filtration for food and beverage and industrial processes, bioprocessing equipment, and specialized air and gas filtration systems for applications including hard disk drives, semiconductor manufacturing, sensors, battery systems, and powertrain components. Donaldson's customer base includes OEMs in various industries, independent distributors, and OEM dealer networks.

• Mobile Solutions: This segment is organized based on a combination of customers and products and consists of the Off-Road, On-Road, and Aftermarket business units. Products include replacement filters for both air and liquid filtration applications and filtration housings for new equipment production and systems related to exhaust and emissions. Applications include air filtration systems, fuel, lube, and hydraulic systems, emissions systems, and sensors, indicators, and monitoring systems. Mobile Solutions sells to original equipment manufacturers (OEMs) in the construction, mining, agriculture, and transportation end markets and to independent distributors and OEM dealer networks. Key products include PowerCore and Ultra-Web air filtration technologies, Synteq XP filtration technology for fuel and lube systems, and the Duramax filter for hydraulic systems.

• Industrial Solutions: This segment is organized based on product type and consists of Industrial Air Filtration, Industrial Gases, Industrial Hydraulics, Power Generation, and Aerospace and Defense products. These products are further organized by the Industrial Filtration Solutions and Aerospace and Defense business units. Industrial Air Filtration systems collect dust, fume, and mist within manufacturing facilities. Industrial Gases provides solutions for challenging industrial gas purification objectives with premium filtration, drying, and purification products. Industrial Hydraulics helps solve contamination challenges with premium filtration products for hydraulics and lubrication. Power Generation provides leading OEMs air inlet equipment systems that deliver filtration and air handling performance. Aerospace and Defense products are specifically designed to protect critical systems from contamination to ensure proper and efficient operation.

• Life Sciences: This segment is organized by end market and consists of the Food and Beverage, Disk Drive, Vehicle Electrification, Medical Device, Microelectronics, and Bioprocessing Equipment and Consumables markets. Products include micro-environment gas and liquid filtration for food and beverage and industrial processes, bioprocessing equipment, including bioreactors and fermenters, bioprocessing consumables including chromatography devices, reagents and filters, polytetrafluoroethylene membrane-based products, as well as specialized air and gas filtration systems for applications including hard disk drives, semiconductor manufacturing, sensors, battery systems, and powertrain components.

Donaldson holds a strong position within the filtration industry, with a reputation for market leadership in many of its product lines, particularly within its Off-Road and On-Road product lines for OEMs and in the Aftermarket business for replacement filters. The company's competitive advantages include its technology, innovation, product performance, service, price, and geographic coverage. Donaldson's principal methods of competition in the Mobile Solutions, Industrial Solutions, and Life Sciences segments are technology, innovation, product performance, service, price, and geographic coverage. The company participates in a number of highly competitive filtration markets in all segments and believes it is a market leader within many of its product lines.

Donaldson's customer base is diverse and includes OEMs in various industries, independent distributors, and OEM dealer networks. The company serves customers globally, with a significant presence in the U.S. and Canada, Europe, Middle East and Africa, Asia Pacific, and Latin America. Donaldson's solutions are chosen for their stringent technical and performance requirements, reliability, and value proposition, making the company a preferred partner for customers seeking to solve complex filtration challenges.