1 Wabtec Investor Presentation 2025

This communication contains “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including statements regarding Wabtec’s plans, objectives, expectations and intentions; Wabtec’s expectations about future sales, earnings and cash conversion; Wabtec’s projected expenses and cost savings associated with its Integration 3.0 initiatives and its portfolio optimization plans; Wabtec’s 5-year outlook (established in February 2025); Wabtec’s expectations for evolving global industry, market and macro-economic conditions and their impact on Wabtec’s business; anticipated drivers of growth and margin expansion; planned capital deployment priorities; synergies and other expected benefits from Wabtec’s acquisitions; Wabtec’s expectations for production and demand conditions; and any assumptions underlying any of the foregoing, are forward looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) changes in general economic and/or industry specific conditions, including the impacts of tax and tariff programs, inflation, supply chain disruptions, foreign currency exchange, and industry consolidation; (2) changes in the financial condition or operating strategies of Wabtec's customers; (3) unexpected costs, charges or expenses resulting from acquisitions and potential failure to realize synergies and other anticipated benefits of acquisitions, including as a result of integrating acquired targets into Wabtec; (4) ability to retain and hire key personnel; (5) evolving legal, regulatory and tax regimes; (6) changes in the expected timing of projects; (7) a decrease in freight or passenger rail traffic; (8) an increase in manufacturing costs; (9) actions by third parties, including government agencies; (10) the impacts of epidemics, pandemics, or similar public health crises on the global economy and, in particular, our customers, suppliers and end-markets, (11) potential disruptions, instability, and volatility in global markets as a result of global military action, acts of terrorism or armed conflict, including Russia’s invasion of Ukraine; (12) cybersecurity and data protection risks and (13) other risk factors as detailed from time to time in Wabtec’s reports filed with the SEC, including Wabtec’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Any forward-looking statements speak only as of the date of this communication. Wabtec does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements. This presentation mentions certain non-GAAP financial performance measures, including adjusted gross profit, adjusted operating expenses, adjusted income from operations, adjusted interest and other expense, adjusted net income, adjusted operating margin, adjusted gross margin, adjusted income tax expense, adjusted effective tax rate, adjusted earnings per diluted share, EBITDA and adjusted EBITDA, net debt and operating cash flow conversion rate. Wabtec defines EBITDA as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is further adjusted for restructuring costs. Wabtec defines operating cash flow conversion as net cash provided by operating activities divided by net income plus depreciation and amortization including deferred debt cost amortization. While Wabtec believes these are useful supplemental measures for investors, they are not presented in accordance with GAAP. Investors should not consider non-GAAP measures in isolation or as a substitute for net income, cash flows from operations, or any other items calculated in accordance with GAAP. In addition, the non-GAAP financial measures included in this presentation have inherent material limitations as performance measures because they add back certain expenses incurred by the Company to GAAP financial measures, resulting in those expenses not being taken into account in the applicable non-GAAP financial measure. Because not all companies use identical calculations, Wabtec’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. Included in this presentation are reconciliation tables that provide details about how adjusted results relate to GAAP results. Wabtec is not presenting a quantitative reconciliation of its forecasted GAAP earnings per diluted share to forecasted adjusted earnings per diluted share in reliance on the unreasonable efforts exemption for such reconciliation of forward-looking information. Wabtec is unable to predict with reasonable certainty and without unreasonable effort the impact and timing of restructuring-related and other charges, including acquisition-related expenses and the outcome of regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to Wabtec’s consolidated statements of earnings. Forward Looking Statements & Non-GAAP Financial Information 2

Table of Contents 3 4 Why Wabtec 10 Company profile & key growth drivers 15 Value creation framework 25 Drive fuel efficiencies thru emerging technologies 32 Strategies to drive profitable growth 43 Disciplined value creation 49 Long-term guidance 53 Appendix

4 4 Why Wabtec

5 Wabtec Has Been A Partner In Rail Innovation For Over 150 Years Freight segment Transit segment ~20% Of the world’s railfreight is moved by a Wabteclocomotive Equipment ~ 8M Messages monitoreddaily on Wabteclocomotives services ~20% Of global freight carshave Wabtec productson them components >500M Digital INTELLIGENCE transit >85% Provide equipment tonearly every major transitsystem in the world Gallons of fuel saved with Trip Optimizer… reducing carbon emissions by up to 500K tons per year

Wabtec’s Financial Performance 6 $10.4B SALES 18.9% ADJUSTED OPERATING MARGIN 117% CASH FROM OPS CONVERSION (1) 7.3% YOY 190 bps YOY 27.7% YOY 52.7% YOY Increase in Cash from Ops $ 2024 KEY HIGHLIGHTS 9.9% 300 bps 21.1% 99% Mid Single Digit ORGANIC SALES CAGR Double Digit ADJ. EPS CAGR >90% CASH FROM OPS CONVERSION 250 - 300 bps ADJUSTED OPERATING MARGIN EXPANSION 5-YEAR PLAN 2021 thru 2025 PERFORMANCE 2021 thru 2024 SALES CAGR ADJUSTED OPERATING MARGIN EXPANSION ADJ. EPS CAGR AVERAGE CASH FROM OPS CONVERSION Strong ANNUAL results … ACHIEVED FIVE Year Plan within Three Years Note: Adjusted numbers represent non-GAAP financial measures. See Appendix for additional details and reconciliations; (1) Cash from Operations conversion % is defined as GAAP Cash from Operations divided by GAAP net income plus depreciation and amortization including deferred debt cost amortization 15.5% GAAP OPERATING MARGIN $7.56 ADJUSTED EPS $6.04 GAAP EPS ADJUSTED OPERATING MARGIN ADJUSTED EPS

Resilient Portfolio Through The Cycle 7 Strong 12-month backlog provides resiliency and visibility despite macro uncertainty Significant recurringrevenue base drives~60% of profit ROBUST BACKLOG & RECURRING REVENUE DEMONSTRATED EXECUTION solid outlook supported by resilient earnings 4Q20 4Q23 $7.5B $6.8B Expanded margins over the last 5 years despite significant headwinds Aggressively managing costs, accelerating lean actions, and executing on Integration 2.0 45%* recurring revenue 15.9% OPERATING MARGIN 17.0% 16.2% 4Q21 4Q22 $6.3B $5.5B *based on 2024 sales 13.1% 12.1% 11.2% GAAP Adjusted 9.9% 15.1% +9% CAGR 4Q24 $7.7B 15.5% 18.9% Note: Adjusted numbers represent non-GAAP financial measures. See Appendix for additional details and reconciliations; (1) Cash from Operations conversion % is defined as GAAP Cash from Operations divided by GAAP net income plus depreciation and amortization including deferred debt cost amortization STRONG CASH GENERATION $0.8B $1.1B $1.0B $1.2B 2020 2021 2022 2023 2024 $1.8B CASH FROM OPERATIONS Average cash conversion of 98% from 2020 to 2024 despite significant business growth and supply chain disruptions Executing on working capital improvements with a focus on inventory turns and account receivable collections 89% 102% 93% 89% 117% Cash Conv(1) %

Driving Continuous Operational Improvement 8 2021 2022 2023 2021 2022 2023 Fixed Asset Productivity ROIC (1) CAPITAL EFFICIENCY METRICS Total net sales/property, plant, and equipment, net (1) Represents a non-GAAP financial measure. See Appendix for details and reconciliation 2024 2024

Disciplined Capital Deployment 9 Returning capital to shareholders … >50% returned thru Dividends and share repurchases 2020 – 2024 Capital allocation $5.9B Cash from Operations 1 2 3 4 5 Maintain Strong Balance SheetMaintain investment-grade rating Invest In Sustainable GrowthR&D and CapEx Increase Dividends Target dividend payout ratio of 10-15% of adj. NI Supplement Organic Growth with M&APortfolio optimization; accretive investments Repurchase SharesReturn excess cash through repurchases Capital Deployment Priorities Share repurchases 42% Acquisitions / Divestitures 17% CapEx 14% Dividends 9% Debt paid / Other 18%

10 10 Company Profile & Key Growth Drivers

Wabtec Operates Its Business In Two Segments 11 50+ Countries ~30K Employees GLOBAL LEADER IN FREIGHT AND TRANSIT RAIL TECHNOLOGIES Freight: 72% Transit: 28% 33% Services $10.4B portfolio 2024 revenues 20% Equipment 28% Transit 11% Components 8% Digital Intelligence

12 Attractive Revenue Profile *2024 FY results STRONG GLOBAL INDUSTRIAL PORTFOLIO WITH TRACK RECORD OF INNOVATION AND SIGNIFICANT RECURRING REVENUE 55% 47% 53% 45% Attractiveend markets Robust aftermarket portfolio Broad scale in global markets Strong mix of recurring revenues Freight Transit All Other (Industrial and Mining) 30% 15% OE Aftermarket 56% 18% 14% Non-Recurring Recurring 55% North America (47% in U.S.) Europe APAC CIS, MENA, SSA South America 8% 4%

15-20% SG&A 13 Sales Growth(1) Expected To Drive Incremental Margins Of ~30% Based On Wabtec’s Fixed-Cost Structure 80-85% 67% of 2024 Revenue 15-20% FIXED MANUFACTURING 80-85% FIXED SG&A ~30% INCREMENTAL MARGIN COST OF GOODS SOLD 12% of 2024 Revenue Variable Costs Variable Costs 15-20% 80-85% Fixed Costs Fixed Costs (1) Long-term guidance as of February 12, 2025; excludes Inspection Technologies acquisition (expected 1H2025)

14 Mix Dynamics Changing As Industry Renews Aging Locomotive Fleet EQUIPMENT TO GROW FASTER THAN AVERAGE ACROSS WABTEC PORTFOLIO PRODUCT MIX Digital Intelligence Services Components Equipment Transit Margin Drivers Sensitivity to the cycle Equipment High Components High Services Medium Digital Intelligence Low Transit Low Margin accretion 5-year GROWTH expectations(1) (1) Long-term guidance as of February 12, 2025

15 15 Value Creation Framework

Growth Drivers 16 DIVERSE PORTFOLIO WITH UNIQUE STRATEGIES TO DRIVE GROWTH 1 2 3 4 5 VALUE CREATION FRAMEWORK FOR DELIVERING THE FUTURE OF RAIL Extending our position as a leader in rail technology around the world Drive fuel efficiencies thru emerging technologies Lead the industry in innovative, fuel efficient technologies and transformative solutions Grow and refresh expansive global installed base Increase share across asset lifecycle (Locos, Mining, Freight Cars & Transit) Expand high-margin recurring revenue streams Increase revenues and expand margins while reducing exposure to economic cycles Accelerate innovation of scalable technologies Build high-margin, innovative and scalable products to increase customer productivity, automation, utilization, and capacity Drive continuous operational improvement Accelerate Lean; drive cost competitiveness; deploy capital efficiently; build a stronger, better Wabtec

17 Growth Driver #1 … Accelerate Innovation of Scalable Technologies ~6-7% target annual organic investment in technology as % of sales ENHANCE EXISTING PRODUCTS INVENT, TEST AND SCALE FUTURE technologies TECHNOLOGY

Growth Driver #2 … Grow And Refresh Expansive Global Installed Base Opportunity for pantograph High-margin friction products transit Pull-through content of up to $250K per new loco Recurring software services DigitalIntelligence 120+ service events over loco life >2,000 Mod units in operation Strong position with Class I customers Freightservices ~ $7K+ content on freight car Opportunity to pull through new deliveries, manufacturing & aftermarket sales Freight Car Components IB Avg Age (years) 2025-2029 NORTH AMERICA 30K 23 APAC 20K 21 CIS/EU 26K 26 LATAM 3K 23 SUB-SAHARAN AFRICA 5K 20 LOCOMOTIVE market (Includes Parked Locos) Customers projected to spend ~1-1.6X the original price of loco on service alone DIGITAL COMPONENTS MODS MAINTENANCE 18 GROW AND REFRESH EXPANSIVE GLOBAL INSTALLED BASE Source: SCI and Wabtec

Growth Driver #2 … North America Fleet Replenishment 19 Current active main-line locomotive fleet size Wabtec North America Locomotives New & Modernizations deliveries ~ 525 units per year ~ 400 units per year 2008 2017 2025 - 2027 ~15K ~25 years ~600 locos North America long-term locomotive fleet renewal Expected life of locomotive Expected industry average annual replacement rate

1ST WAVE OF MODS - FDL POTENTIAL MODS - EVO Growth Driver #2 … North America Fleet Renewal Opportunity 20 CONTINUE TO INVEST / GROW THE CORE LOComotive Wabtec’s fleet by emission T1 T4 T2+ WABTEC’s fleet by TRACTION DC AC Customer outcomes Reliability 3 Fuel efficiency 2 Productivity 1 fleet profile Best-In-Class Failure Rate New technology Engine improvements Digital solutions AC traction Reliability 3 2 1 Strategy in action Enable & support alternative fuels Continue to invest in fuel efficiency improvement technologies Hybrid battery upgrade for additional fuel & GHG reduction Enabling locomotive automation with Modular control architecture Navigate regulation & pursue subsidies T3 ~15K North American Active Fleet

Key markets & Growth drivers Growth Driver #2 … International Fleet Growth 21 Resilient Growth in the International INSTALLED BASE 4.6% SSA Mining new projects & volume growth Expand service & repair Digital Mining, PTC 2.0 Australia / APAC Continued growth in Freight rail Fleet renewal, aging fleets & fuel efficiency Urban transit infrastructure investment Digital Mining, PTC 2.0 SOUTH AMERICA Transition fleet (FDL to EVO) Alternative fuels & hybrid Automation technologies, PTC 2.0 Digital Mining, Inspection Technologies INDIA Transit components & services Fleet services expansion Freight car components Growing Wabtec installed base CIS & MENA Loco fleet expansion & services Alternative fuel flexibility Onboard Technologies Inspection Technologies

22 2x Global demand for transport growing fast…freight and passenger activity projected to grow more than double by 2050 GROWING DEMAND today 22x fewer deaths and injuries per year than trucking SAFER 75% reduction in carbon emissions per ton-mile versus trucking CARBON REDUCTION 3-4x more fuel efficientthan trucking MORE EFFICIENT Sources: AAR sustainability Fact Sheet, Wabtec internal data Growth Driver #3 … Driving Fuel Efficiency Improvements Environmental BENEFIT ~300M TONS ENABLE ANNUAL CO2 REDUCTION GLOBALLY Source: ITF Transport Outlook (1) Estimated annual benefit by 2050 (1)

Growth Driver #4 … Expand High-Margin Recurring Revenue Streams 23 ~60% OF COMPANY PROFIT IN 2024 DRIVEN BY RECURRING REVENUES Driven by expansive installed base of locomotives and significant content on transit / freight cars Includes such items as service businesses, replacement parts, software licenses, digital services and consumables 45% 55% Recurring Revenues 2024 FY results

Manufacturing excellence Lean/continuous improvement and industry 4.0, 90% On Time Delivery, Rooftop reductions, make vs. buy, local production, Working capital cycle improvement Material cost reduction ~145 manufacturing sites. . . Drive best cost footprint >25% sites in best-cost-countries >35% of engineers in best-cost-countries Should-cost analysis, total landed cost, low-cost country Supplier cost reduction ideas, long-term contracts with shared benefits Connected production cycle (quote to delivery) Rigorous planning and evaluation connected to sales through delivery 3-D model-based engineering designs, connected systems to enable change management Value-add process enablement System and tools to eliminate/automate transactional work Growth Driver #5 … Drive Continuous Operational Improvement 24 PROVEN TRACK RECORD OF MARGIN EXPANSION THROUGH PROGRAMMATIC COST REDUCTION AND EFFICIENT EXECUTION 3-5% Historical average mfg cost productivity / year since 2019 ~60% of COGS covered by LEAN 2-3% Historical average material cost deflation / year since 2019 (excl. commodities) 30% Rooftop reduction since 2019 WHAT HOW Cost competitiveness

25 25 Drive Fuel Efficiencies Through Emerging Technologies

We’re Committed To Creating A More Sustainable Future SUSTAINABILITY PRINCIPLES INNOVATING WITH PURPOSE DRIVING RESPONSIBLE OPERATIONS EMPOWERING PEOPLE AND COMMUNITIES We are committed to developing responsible and sustainable products that minimize the impact on the planet We are committed to providing safe work environments and products that enable productive and efficient use of resources We are committed to driving an inclusive culture grounded in integrity and investing in the communities where our teams live and work

Customer Science-Based Targets For CO2 Reduction 27 TECHNOLOGY CO2 BENEFIT COST BENEFIT DC to AC Locomotives + + Trip Optimizer + +++ Engine Advantage + +++ Biodiesel 20% + + Renewable Diesel ++ - FLXdrive Consist ++ ++ Hydrogen +++ -/+ TECHNOLOGY BENEFIT FOR CUSTOMERS UPGRADE OPERATIONAL NEW ASSET TARGETS CLASS I CUSTOMERS 2024-To-Date Achievement Remaining to Target Source: Company Reports

Up to 60% CO2 Up to 80% CO2 Wabtec’s Path To Zero Emissions Locomotives 28 DEVELOP BEST-IN-CLASS ZERO EMISSIONS TeCHNOLOGY FDL FLEET EVO FLEET Wabtec Advantage: Fleet replacement with Tier 4 locomotives & mods improves fuel efficiency by up to 18%. Wabtec locomotives are up to 6% more fuel efficient versus competitors (excluding digital benefits) Wabtec Strategy: Provide best-in-class heavy haul locomotives and railyard switchers Development of Battery-Electric Locomotives: Introduced the World’s 1st Zero Emissions Heavy Haul Battery Electric Loco Shipping Wabtec’s 1st Battery-Hybrid Locomotive Development of Fuel Cell Locomotives: Pacing Wabtec investment with market adoption CURRENT TARGETED BIODIESEL (All) 11% 20% RENEWABLE (All) 50% 100% ICE HYDROGEN (T3/T4) 0% 50% Step 1 - Fleet Renewal through Tier 4 & Mods Battery Electric (FLEXDRIVE) Hydrogen Fuel Cell (1) ICE (Internal Combustion Engine) Hydrogen specific to EVO Engines (2) 100% Biofuel for High HP Locomotives in N.A. by 2026; Low HP Mods 100% biofuel by 2027; 100% biofuel globally by 2030 (2) 100% Reduction in CO2 Emissions H2 FUEL CELLS Wabtec Strategy: Enabling Wabtec’s installed base to utilize alternative fuels providing customers a secure energy transition with reversibility back to diesel. Wabtec’s 4-stroke engine architecture allows for ICE hydrogen & increased engine efficiency Step 2 – Enable Wabtec Engines for Alternative Fuels ENABLE TRANSITION TOWARD NEAR ZERO Emissions (1)

Locomotive Technology Road Map For Sustainability 29 Diesel engine Battery (Mainline HYBRID CONSIST) hydrogen digital 2016 2023 2026 2030+ Potential Co2 reduction Our technologies, such as Trip OptimizerTM and LOCOTROL® enhance the rail industry’s sustainable journey Tier 4 FDL Advantage EVO Advantage Demo FLX drive 2.0 FLX drive 3.0 Demo HHP/tender Launch Switcher & Local Main line locomotive Fuel cell/engine Modernizations FLXswitch 8% 8% 30% 100% 30% T4 High Efficiency 100% Battery (Switcher & Local) Demo Advancing the adoption of biofuel BIOFUELS >60%

30 Digital Technical Solutions impact Up to ~30% reduction in emissions and fuel utilization 22% efficiencies today … 18% EPA certified products Integrated FUEL Optimization Movement Planner system Locotrol distributed power Trip Optimizer Platform 30% UP TO Total savings* CAPABILITY EVOLUTION Fuel savings across the enterprise network 3%  4% Fuel savings on distributed power trains 4%  6% Fuel savings per locomotive 15%  22% MOVEMENT PLANNER DISPATCH SYSTEM Optimizes the use of slack time to reduce overall fuel consumption LOCOTROL DISTRIBUTED POWER SYSTEM Optimizes the distribution of power to reduce total horsepower required TRIP OPTIMIZER ENERGY MANAGEMENT SYSTEMPlans the most fuelefficient way to arriveon time * Non-EPA certified reductions reflect current estimates

Transit – Government Funding, Decarbonizing Passenger Transport 31 UNIQUELY POSITIONED TO CAPTURE GROWTH ACROSS VAST PORTFOLIO AND GEOGRAPHICAL REACH TAILWIND TO TRANSIT SYSTEMS PORTFOLIO U.S. $180B in 2022 -2032 for passenger EUROPEAN UNION $83B in 2021-2027 for rail INDIA $150B in 2024-2029 for rail GERMANY $109B in 2020-2030 for rail PASSENGER RAIL (28 CO2/PKM) ROAD (102 CO2/PKM) AIR (244 CO2/PKM) Grams of CO2 PKM

32 32 Strategies To Drive Profitable Growth

33 Equipment – Primary Growth Drivers 1 2 3 4 SURFACE MINING TRUCK ELECTRIFICATION & FLEET RENEWAL Continued shift from mechanical drives to electric drives Maintain strong position in Ultra Class segment with Power Agnostic platform Sustained copper & iron ore production growth NORTH AMERICA FLEET UPGRADE Intermodal growth Aging fleet Higher haulage and efficiency needs INTERNATIONAL LOCOMOTIVE GROWTH Commodities, regional development, and global trade Emphasis on shifting to freight for sustainability & productivity Leverage local partnerships TECHNOLOGY ADVANCEMENTS Alternative fuels, high fuel efficiency technologies Fleet performance – availability and reliability of assets

Equipment 34 REVENUE BY END MARKET REVENUE BY GEOGRAPHY AFTERMARKET REVENUE RECURRING REVENUE $2.1B 2024 Revenue Key customers Diversified global base to drive growth 1% 55% 45% Locomotive Mining, Marine, Drilling, Other 50% 21% North America Europe APAC 88% 12% 84% 16% OE Aftermarket Non-Recurring Recurring CIS, MENA, SSA South America 21% 7%

35 Services – Primary Growth Drivers GLOBAL REMANUFACTURING 20+ global remanufacturing locations for critical components including engines & traction motors MAINTENANCE TECHNOLOGIES Asset management, material management, remote monitoring and technical advisory capabilities INTERNATIONAL EXPANSION Accelerating portfolio footprint and product penetration PERFORMANCE UPGRADES Leveraging technology to deliver on fuel & emissions efficiency and reliability MODERNIZATIONS Fleet transformation (haulage, reliability, fuel & emissions) through modernizations to help customers achieve operational outcomes MAINTENANCE OF WAY Diverse portfolio of maintenance equipment and material movers to support the rail industry

Services 36 REVENUE BY END MARKET REVENUE BY GEOGRAPHY AFTERMARKET REVENUE RECURRING REVENUE $3.4B 2024 Revenue Key customers ACCELERATING GROWTH ACROSS THE PORTFOLIO 82% 74% 20% Services / Maintenance Modernizations 6% 8% 69% 31% 80% 20% OE Aftermarket Non-Recurring Recurring Maintenance of Way 6% 4% North America Europe APAC CIS, MENA, SSA South America

37 Components –Primary Growth Drivers INTERNATIONAL EXPANSION USING ONE WABTEC NETWORK Freight and loco opportunities in LATAM, APAC, India, and EMEA Industrial expansion and global partnerships to support ESG Scaling and developing new products for energy solutions, carbon reduction, and renewable energy DRIVE INNOVATION INTO NEW PRODUCTS & SOLUTIONS Sensing/digitalization to improve product performance Health monitoring to reduce maintenance cycles Apply advanced material technology to engine cooling STRENGTHEN OUR CORE IN NORTH AMERICA Market freight car product offerings with car builders Consolidate industrial go-to-market approach CONTINUOUS OPERATIONAL IMPROVEMENT Leverage best-cost country sources Rationalize and simplify structure to drive profitability Footprint consolidation to drive out duplication Increasing railcar build over time + Strong product position + Operating leverage REVENUE GROWTH AND MARGIN ACCRETION

Components 38 REVENUE BY END MARKET REVENUE BY GEOGRAPHY AFTERMARKET REVENUE RECURRING REVENUE $1.2B 2024 Revenue Key customers Diversified PORTFOLIO BRINGS NEW growth 70% 51% 49% Freight Industrial 12% 13% 70% 30% 58% 42% OE Aftermarket Non-Recurring Recurring Nationalsteel car North America Europe APAC CIS, MENA, SSA South America 3% 2%

39 Digital Intelligence – Primary Growth Drivers NEXT-GEN NETWORK SOLUTIONS Precision Dispatch 2.0, migrate to Cloud, Pacing & Service Design INTERNATIONAL MARKETS Expand Train Automation, PTC 2.0, KinetiX and Digital Mining across Latin America, Europe, and Asia Pacific EVOLVE LOCOTROL PLATFORM Locotrol Expanded Architecture (LXA); Road Remote Control Locomotive (Road RCL) system; Teleoperations EXPAND TRIP OPTIMIZER SUITE Zero-to-Zero, TO Innovation for higher availability of auto-miles using AI Launching I-ETMS Protect PTC 2.0, precision reference, moving block, vital stand-alone technology AI DRIVEN ASSET MANAGEMENT KinetiX, Telematics and Inspection Technologies for condition monitoring & analytics (1) I-ETMS = Interoperable Electronic Train Management System (1)

Digital Intelligence 40 REVENUE BY END MARKET REVENUE BY GEOGRAPHY RECURRING REVENUE $0.8B 2024 Revenue WELL POSITIONED FOR GROWTH 71% 48% 31% Onboard Optimization / KinetiX 14% 1% 70% 30% Non-Recurring Recurring Signaling 21% 5% Key customers North America Europe APAC CIS, MENA, SSA South America 9%

41 Transit – Primary Growth Drivers 1 2 3 4 GOVERNMENT FUNDING / SHIFTING TO GREEN TECHNOLOGY Investments in decarbonization and reduction of congestion, aligns with suite of energy management, electrification, and carbon reduction products OPERATIONAL EXCELLENCE AND PORTFOLIO MANAGEMENTDrive global footprint optimization, scale cost structure, and deliver best-in-class project management … while evaluating and evolve total portfolio INNOVATION AND SCALABLE TECHOLOGIES Enhancing train performance; maintenance optimization through digitization for transit operators SERVICES Leveraging a significant installed base and wide geographic footprint to help transit operators gain efficiencies, reliability, and productivity

Transit 42 REVENUE BY END MARKET REVENUE BY GEOGRAPHY AFTERMARKET REVENUE RECURRING REVENUE $2.9B 2024 Revenue Key customers SAFETY, EFFICIENCY & PASSENGER COMFORT 56% 19% 42% 21% 18% 48% 52% 45% 55% OE Aftermarket Non-Recurring Recurring Rolling Stock Components Transit Services Brakes & Couplers 23% Power & Mobility 16% North America Europe APAC CIS, MENA, SSA South America 3% 2%

43 43 Disciplined Value Creation

Path To The Future …Maximize Shareholder Value 44 INVEST INTHE BUSINESS Driving long-term profitable growth DRIVERS Deploy proven strategies / accelerate growth drivers Execute on increasing backlog Mix headwinds driven by fleet renewal Invest in innovative technologies that drive profitable growth Best-in-class productivity & integration INVEST IN THE FUTURE Through M&A with strategic fit& accretive returns RETURN VALUE TO SHAREHOLDERS Through disciplined capital allocation M&A as core competency Strategic markets… bolt-ons, adjacencies Attractive assets / end markets that drive growth Valuations that are accretive to earnings and ROIC Capital allocation priorities Increasing asset productivity Improving ROIC Robust cash generation and cash flow

Capital Allocation Priorities 45 Net leverage ratio is defined as net debt divided by trailing 12-month adjusted EBITDA. Net debt is defined as total debt minus cash, restricted cash and cash equivalents; represents a non-GAAP financial measure. See Appendix for additional details and reconciliation 1 2 3 4 5 PRIORITIES OBJECTIVES ACTIONS Maintain strong balance sheet to manage through economic cycles & world crises Net leverage (1) ratio of 2.0 to 2.5x. Maintain investment-grade ratings Net leverage ratio of 1.5x (1) at end of 4Q24 Appropriately invest in the business for revenue & profit growth CAPEX ~2% of sales Working capital ~20% of sales Tech spend ~6-7% of sales Execute 2025-2029 plan Increase dividends Target dividend payout ratio of 10-15% of adjusted net income Grow dividends in-line with earnings over time Increased Q1 ‘25 dividend 25% to $0.25/share … $1.00 annually Supplement organic growth with M&A Optimize portfolio through bolt-ons and adjacencies, as well as improving/exiting non-strategic, low margin product lines Execute accretive M&A… manage pipeline of opportunities; purchased Fanox, Kompozitum, Bloom Engineering, & Tehnika; and the recently announced acquisition of Evident’s Inspection Technologies Division in 2024 Return excess FCF after dividends and M&A through share repurchases Offset incentive plan dilution and supplement EPS growth Increased existing share repurchase plan by $1Bin Q4 ‘24

Invest In The Future Through Strategic M&A 46 FOCUSED ON ACQUISITIONS THAT ARE A STRATEGIC FIT AND DRIVE ATTRACTIVE RETURNS STRATEGIC MARKETS COMPELLING VALUATIONS ATTRACTIVE ASSETS Bolt-ons / adjacencies focused on: Highly engineered products Rail & industrial services Digital technologies & solutions Secular growth profile/sustainable end-markets Geographic reach High aftermarket & recurring revenue streams Complementary customer base & technologies Accretive earnings within 2 years ROIC enhancing (ROIC > WACC) Above-average synergies (as % of revenue) Similar capital intensity / workingcapital requirements to core business Complements Wabtec’s strategic plan Revenue growth and/or margin enhancement Highly competitive market position Product leadership Technology & engineering leadership Leading market shares Operating cash conversion strength and/or opportunities

Disciplined Capital Deployment - 2024 47 Accretive Earnings → Strong Cash Flow Conversion → Reinvest & Return Capital Deployment Priorities Maintain Strong Balance SheetMaintain investment-grade rating Invest In Sustainable GrowthR&D and CapEx Increase Dividends $0.05 quarterly dividend increase in Q1 ’25 (up 25%) Supplement Organic Growth with M&APortfolio optimization; accretive investments Repurchase SharesReturn excess cash through repurchases Disciplined capital allocation $1,834M Dividends Cash from Ops $1,097M Full Year 2024 Capex Debt /Other $241M $207M Share repurchases $149M Acquisitions/Divestitures $140M

48 Key Investment Highlights 1 2 3 4 Continued momentum across the portfolio and strong order pipeline and backlog … internationally and in North America Positive productivity driven by continuous cost improvement combined with realization of Integration 2.0 & 3.0 savings Wabtec is well-positioned to drive higher returns and create top quartile long-term value for shareholders over time Strong revenue growth, margin expansion, increased earnings and improved cash flow

49 49 Long-Term Guidance

50 The Next Five Years – Long Term Guidance 50 BASE YEAR 2024 5-YEAR OUTLOOK (1) $10.4B REVENUE 18.9% ADJUSTED OPERATING MARGIN $7.56 ADJUSTED EPS 117% CASH FROM OPS CONVERSION Mid Single Digit ORGANIC SALES CAGR Double Digit ADJUSTED EPS CAGR >90%(2) CASH FROM OPS CONVERSION 350+ bps ADJUSTED OPERATING MARGIN EXPANSION (1) Long-term guidance as of February 12, 2025; 5-Year outlook excludes Inspection Technologies acquisition (expected 1H2025); (2) Cash conversion to average >90% thru 2029 Drive fuel efficiencies thru emerging technologies Lead the industry in innovative, fuel efficient technologies and transformative solutions Grow and refresh expansive global installed base Increase share across asset lifecycle (Locos/Mining, Freight Cars & Transit) Expand high-margin recurring revenue streams Increase revenues and expand margins while reducing exposure to economic cycles Accelerate innovation of scalable technologies Build high-margin, innovative and scalable products to increase customer productivity, automation, utilization, and capacity Drive continuous operational improvement Accelerate Lean; drive cost competitiveness; deploy capital efficiently; build a stronger, better Wabtec 1 2 3 4 5 CONTINUING Value Creation Framework

Future Revenue Growth & Margin Expansion 51 +2.0 - 3.0% + 1.0% 1.0-2.0% + Innovation-Led Drivers 225 BPS + 85 BPS + 40 BPS ANNUAL REVENUE GROWTH EXPECTATIONS 2025 – 2029: MID-SINGLE DIGITS ADJUSTED MARGIN IMPROVEMENT EXPECTATIONS 2025 – 2029: 350+ BPS ACCELERATED GROWTH Technology-driven growth Pricing for value Portfolio optimization headwinds Transit selectivity headwinds N.A. LOCO FLEET RENEWAL / INTL GROWTH New Locomotives (Tier 4 in U.S.) Mods (FDL Advantage, EVO Advantage) Alternative fuels Next Generation technologies UNDERLYING RAIL INDUSTRY GROWTH TRENDS Freight carloads Railcar build Passenger ridership Economic fundamentals (GDP) CAPITAL & TECHNOLOGY INVESTMENT IRR capital projects Technology/Innovation REVENUE GROWTH MSD growth CAGR Pricing for value Mix headwinds due to faster Mod/Loco growth COST IMPROVEMENT Continuous improvement, lean Integration 2.0 of ~$10M / 3.0 savings of $100M - $125M Manufacturing fixed cost absorption SG&A leverage (SG&A growth < revenue growth) Portfolio optimization tailwinds Note: 5-Year long-term guidance as of February 12, 2025; excludes Inspection Technologies acquisition (expected 1H2025)

INTEGRATION 3.0 (2025 – 2027) Introducing Integration 3.0 & 2025 Portfolio Optimization 52 Consolidate footprint / REDUCE COMPLEXITY Value chain improvement Office/facility rationalization Streamline operation to reduce mfg. complexity Manufacturing, ENGINEERING & PROCUREMENT EXCELLENCE Global supply base sourcing & consolidation (Re)-Design to cost/value Best-cost-country capacity expansion Automation/should-cost modeling STREAMLINE ADMIN & COMMERCIAL ACTIVITIES Resource redundancy Simplify through systems enablement/AI efficiencies Lean corporate / Indirect Procurement Segmentation/Optimize pricing/demand PORTFOLIO OPTIMIZATION (2025) Wabtec PLANS to exit various low margin product lines Pruning will improve focus and profitability while reducing manufacturing complexity Divestitures/business exits to be initiated in 2025 represent approximately $100M low margin revenues Roughly 2/3 / 1/3 split between Freight and Transit segments Expect net exit charges of ~$40M in predominantly non-cash asset write downs $125-155M ANTICIPATED EXPENSE(1) $100-125M ON-GOING BENEFIT TARGETED THRU 2028 Of the total anticipated expense, restructuring expense and restructuring related one-time charges are estimated at $80-$100 million

53 53 Appendix

Cash Conversion Reconciliation 54

Operating Margin Reconciliation 55

Return On Invested Capital Reconciliation 56

Net Leverage Ratio 57

Earnings Per Share Reconciliation (1 of 2) 58

Earnings Per Share Reconciliation (2of 2) 59