ITG Midwest Industrials

August 2015

1

Safe Harbor Statements

This presentation contains “forward-looking” statements that involve risks, uncertainties and assumptions. If the risks or uncertainties evermaterialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-lookingstatements. Accordingly, we caution you not to place undue reliance on these statements. All statements other than statements of historical factcould be deemed forward-looking, including, but not limited to, any projections of financial information; any statements about historical results thatmay suggest trends for our business; any statements of the plans, strategies and objectives of management for future operations; any statementsof expectation or belief regarding future events, technology developments or enforceability of our intellectual property rights; and any statements ofassumptions underlying any of the foregoing.

These statements are based on estimates and information available to us at the time of this presentation and are not guarantees of futureperformance. Actual results could differ materially from our current expectations as a result of many factors, including but not limited to: the impactof our substantial indebtedness; the effect of local, national and international economic, credit and capital market conditions on the economy ingeneral, and on the industries in which we operate in particular; access to available and reasonable financing on a timely basis and the availabilityof financing for our customers; our competitive environment; dependence on independent distributors; general economic and business conditions,market factors and our dependence on customers in cyclical industries; the seasonality of our sales; impact of weather on the demand for ourproducts; changes in technology and manufacturing techniques; loss of key personnel; increases in cost of our raw materials and our possibleinability to increase product prices to offset such increases; the loss of any significant customer; inability to make necessary capital expenditures;risks associated with international operations, which have increased in size due to our recent acquisitions; the costs of environmental complianceand/or the imposition of liabilities under environmental, health and safety laws and regulations; the costs of asbestos claims; a potential impairmentof goodwill and intangible assets; changes in governmental laws and regulations, or the interpretation or enforcement thereof, including forenvironmental matters; viability of key suppliers; reliance on intellectual property; potential product liability claims; work stoppages by unionizedemployees; the costs related to strategic acquisitions or divestitures or the integration of recent and future acquisitions into our business;performance, and potential failure, of our information and data security systems; changes in pension funding requirements and costs of maintaininghealthcare insurance and benefits; and anti-takeover provisions in our charter documents. These and other risks and uncertainties associated withour business are described in our Annual Report on Form 10-K for the year ended March 31, 2015. We assume no obligation and do not intend toupdate these forward-looking statements.

In addition to U.S. GAAP financials, this presentation includes certain financial measures on a non-GAAP basis as defined in the Form 8-K filedwith the Securities and Exchange Commission on August 4, 2015. These historical and forward-looking non-GAAP measures are in addition to, nota substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Our SEC filings contain additionalinformation about these non-GAAP measures and why we use them.

2

Rexnord Overview

Note: Platform margins exclude corporate expenses.

FY15 Revenue: $2.05 billion

FY15 Adjusted EBITDA: $396 million

EBITDA Margin 20%

PROCESS & MOTION CONTROL

FY15 Revenue: $1.23 billion

EBITDA Margin 25%

Provide highly engineered mechanical

components used in complex systems

where reliability is critical and cost of

downtime is high

WATER MANAGEMENT

FY15 Revenue: $0.82 billion

EBITDA Margin 15%

Provide and enhance water quality,

safety, flow control and conservation in

specification-driven end markets

Rexnord Historical Summary

Consistent Focus on Value Creation

3

Valued by Carlyle Apollo IPO Trade*

source: Company reports, Capital IQ. * 52-w eek high.

Ent Value

($millions)

Adj EBITDA

($millions)

Key

AcquisitionsFalk Zurn GA VAG Precision Euroflex

$ 907

$ 1825

$ 3920

$ 4720

0

1,000

2,000

3,000

4,000

5,000

0

100

200

300

400

500

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Adj EBITDA

Enterprise Value

Rexnord Business Model

Focus. Execution. Value.

5

Rexnord Value Creation

5

Note: EBITDA adjusted to exclude certain non-recurring items per SEC filings.

CAGR calculated w ith consolidated EBITDA, including corporate expenses.

10-Year Revenue Growth ($mm)

10-Year Adjusted EBITDA Growth ($mm)

$811

$1,230

$820

0

500

1000

1500

2000

2500WM

PMC $2,050

$135

$307

$121

0

100

200

300

400

500

FY05 FY15

WM

PMC$396

Process & Motion Control Profile

Serves $13+B fragmented global market

Broad product portfolio of engineered products for

heavy-duty applications in process industries, aerospace

Reliability critical to avoid costly user downtime +

small share of user system cost =

80%+ like-for-like replacement

~50/50 OEM & End User / Aftermarket

6

Important Progress in FY15

Shift to vertical market organization

IT investments improve EODB, customer satisfaction

Focus resources on first-fit opportunities

Grow the installed base globally

Invest in new products & complementary acquisitions

Invest in faster-growing markets

Rationalize cost structure, supply chain

General Industrial

31%

Food & Beverage

15%

Aerospace14%

Bulk Material

Handling12%

Const

Materials & Eqpt

8%

Energy8%

Agri/Farm

5%

Paper &

Forest Products

4%

Transport

3%

FY15 Sales by End Market

US & Canada

63%

Europe16%

Latin

America

9%

ROW12%

FY15 Sales by Geography

Water Management Profile

7

Serves $5+B fragmented global market

Broadest offering for water safety, conservation, and flow

control in specification-driven applications in building

construction, water & wastewater treatment & supply

Small share of user project cost

but critical to system performance and reliability

~60/40 New Construction / Replacement & Retrofit

Leveraging Competitive Advantages

Leverage go-to-market scale

Focus resources on driving specification share with

owners, architects, engineers

Facilitate changing sourcing & construction practices

Invest in new products & complementary acquisitions

Expand presence, relevance in adjacent channels

Rationalize cost structure, supply chain

Residential12%

FY15 Sales by End Market

Water & Wastewater

Infrastructure37%

Nonresidential:Commercial & Industrial

29%

Nonresidential:Institutional

22%

US & Canada

71%

Europe13%Latin

America

2%

ROW14%

FY15 Sales by Geography

Supply Chain Optimization & Footprint Repositioning

8

Supply Chain Optimization & Footprint Repositioning Plan:Enable the long-term profitable growth of Strategic product lines

Structural COGS Reduction Sustainable & Profitable Growth

Operations Commercial

COGS Reduction Targets (from JOP)

PL #1 $4M PL #4 $3MPL #2 $5M PL #5 $10MPL #3 $3M Tax Benefit $5M

Growth Targets (from JOP)

Growth in Key Product Lines+$X.XM (GP)

$30 million savings exiting FY17

Relocation to LCR locations / increased variable manufacturing model

Access New Segments (General Purpose) / Channels (OEM)

Enable More Growth in Key Product Lines

Access New Segments,

Channels, Markets or Geographies

Product Repositioning / Market

Competitiveness

Structural COGS Reduction

Lower Cost Manufacturing

Strategy

Permanent Fixed Cost Reductions & Growth Enabler

Repositioning Future Global Footprint

9

Targeting 20+% Net Reduction of FY15 Footprint

North America FY155.5 million sq ft

Europe FY152.4 million sq ft

Rest of World FY151.0 million sq ft

North America FY18E~4 million sq ft

Europe FY18E~2 million sq ft

Rest of World FY18E~1 million sq ft

CU

RR

EN

T

FU

TU

RE

Strategic Acquisition Process

Process Characteristics

RBS-directed = rigorous & standardized

Integrated into strategic planning process

Proprietary funnel

Experienced internal teams

27

Scalable Capital Deployment

Target Characteristics

Accretive to core growth

Attractive margin, cash flow profile

Sustainable competitive advantages

ROIC > WACC within 12-36 months

Recent Acquisition Activity

Add Diversify Grow

Strengthen Adjacent End Non-NA

Acquisition Year Platfom Core Product Market Geography Comment

Euroflex FY15 PMC P P P P India manufacturing

Tollok FY15 PMC P P P P Product line extension

Green Turtle Technologies FY15 WM P P Leading product technology

Precision Gear Holdings FY14 PMC P P Aerospace & energy focus

LWG FY14 WM P P Australia distribution

Micro Precision FY14 PMC P P P Airframe diversification

Strategic Rationale

Focus on Cash

11

Calendar 2014 Amortization Expense as % of Earnings before Tax

0%

5%

10%

15%

20%

25%

30%

REX

NO

RD

AIM

C

AM

E

AO

S

ATU CFX C

R

CSL

DH

R

DO

V

EMR

ETN

FLS

GG

G

HO

N

IEX IR ITT

ITW

LEC

O

ND

SN PH

PN

R

RB

C

RO

K

RO

LL

SKFB

SPW

TKR

TYC

UTX

WTS

XYL

source: Capital IQ

Mean = 9.2%

Beginning with Fiscal 2016, Rexnord will report and guide to

Adjusted EPS excluding non-cash amortization.

More representative of underlying operating performance.

Provides investors with a better understanding of core operating results.

Improved alignment with cash flow generation.

Majority of annual non-cash amortization is related to the 2006 LBO.

Executive Summary

• Cautious view of global industrial

end-market growth prospects

• Capitalizing on core growth

opportunities in global

Water Management & Aerospace

• Implementing comprehensive

$30M cost savings initiative,

leveraged by supply chain

optimization to augment core

growth opportunities

• Increasing commercial efficiency in

PMC process industry markets

12

Aligned to Create Value for Shareholders

• Expanding capabilities to sustain

above-market core growth Acquisitions are incremental

• Leveraging go-to-market scale

advantages in customer-centric

organizational structure

• ~30% incremental EBITDA margins

• Superior free cash flow

• Rexnord Business System enables

enhanced financial returns &

shareholder value creation

Longer-Term PerspectiveNext 12-24 Months

13

Appendix

14

Non-GAAP Reconciliations

Note: During the fourth quarter of fiscal 2011, the Company voluntarily changed its method of accounting for actuarial gains and losses related to its pension and other postretirement benefit plans. Please refer to footnote 2 of the audited financial statements of the March 31, 2011 Form 10-K filed by the Company’s subsidiaries, RBS Global, Inc. and Rexnord LLC for further information.

(1) The loss on divestiture is the result of the Company's sale of a non-core subsidiary to a third party. (2) Represents restructuring costs comprised of work force reduction, lease termination, and other facility rationalization costs.(3) Last-in first-out (LIFO) inventory adjustments are excluded in calculating Adjusted EBITDA as permitted by Rexnord’s credit agreement.(4) Other (income) expense, net consists of management fees, loss on foreign currency transactions, loss on sale of property, plant and equipment, income in unconsolidated affiliates and other expenses.

FYE March 31, FQE June 30,

US$ in millions 2011 2012 2013 2014 2015 2015

Net (loss) income from continuing operations $(54.2) $30.6 $47.3 $25.0 $91.8 $21.2

Interest expense, net 180.8 176.2 153.3 109.1 87.9 21.6

(Benefit) provision for income taxes (10.6) 6.5 15.4 (10.0) 16.8 10.0

Depreciation and amortization 104.6 112.7 110.9 106.9 112.2 28.2

EBITDA $220.6 $326.0 $326.9 $231.0 $308.7 81.0

Adjustments to EBITDA:

Actuarial loss on pension and post retirement benefit

obligations— $9.1 $5.5 $2.7 $59.4 —

Loss on divestiture (1) — 6.4 — — — —

Loss on extinguishment of debt 100.8 10.7 24.0 133.2 — —

Restructuring and other similar costs(2) — 6.8 8.6 8.4 12.9 1.9

Stock-based compensation expense 5.6 3.7 7.1 7.0 6.4 1.9

Impact of inventory fair value adjustment — 4.2 — 1.7 3.2 —

LIFO expense (income) (3) 4.7 2.2 5.0 5.6 (1.7) —

Zurn PEX loss contingency — — 10.1 — — —

Other (income) expense, net(4) (1.1) 7.1 2.9 15.1 7.2 0.4

Subtotal of adjustments to EBITDA 110.0 50.2 63.2 173.7 87.4 4.2

Adjusted EBITDA $330.6 $376.2 $390.1 $404.7 $396.1 $85.2

Pro forma adjustment for acquisitions 11.3

Pro Forma Adjusted EBITDA $407.4

15

Non-GAAP Reconciliations (Continued)

Q1 FY 2016 Q1 FY 2015

US$ in millions,

(except per share amounts)

Operating

Income Net Income EPS

Operating

Income Net Income EPS

As reported, from continuing operations $53.2 $21.2 $0.20 $56.9 $11.6 $0.11

Amortization — 14.3 0.14 — 13.5 0.14

Stock Option Expense 1.9 — — 1.6 — —

Restructuring Expense 1.9 1.9 0.02 3.4 3.4 0.03

LIFO Expense (Income) — — — 0.2 — —

Inventory Fair Value Adjustment — — — 1.4 1.4 0.01

Non-Recurring Tax Items — — — — 10.1 0.10

All Other Non-Operating — 0.4 0.00 — 1.3 0.01

Tax Impacts on Adjustments — (6.0) (0.06) — (6.9) (0.07)

As Adjusted $57.0 $31.8 $0.30 $63.5 $34.4 $0.33

Note: Effective April 1, 2015, Management has modified the Adjusted Net Income and Adjusted Earnings per Share non-GAAP metric to include stock option expense and LIFO, while excluding amortization (all net of tax). We believe this modification will increase transparency to our stakeholders, as well as enhance comparability with our peer set.