Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

In 2021, our operating objectives include following: Executing our social responsibility strategy focused on People, Products and Planet; Enhancing and supporting employee engagement and development; Achieving differentiated revenue growth through new products and solutions and expansion in higher growth verticals and key developing regions; Optimizing our technological capabilities to increasingly generate innovative new and connected products and advance digital transformation; Driving operating excellence through lean enterprise initiatives, with specific focus on sourcing and supply management, cash flow management and lean operations; Optimizing working capital through inventory reduction initiatives across business segments and focused actions to optimize customer and vendor payment terms; and Deploying capital strategically to drive growth and value creation.

26 Table of Contents Thermal Management The net sales, segment income and segment income as a percentage of net sales for Thermal Management were as follows: Net sales The components of the change in Thermal Management net sales from the prior period were as follows: The 2.9 percent increase in Thermal Management net sales in the first quarter of 2021 from 2020 was primarily the result of: organic sales growth contribution of approximately 2.0% from both our industrial and commercial & residential businesses, which includes selective increases in selling prices; and favorable foreign currency effects.