Timken Releases 2022 Annual Report, Highlighting Record Performance and Strategy to Scale as a Diversified Industrial Leader

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20230321/1679384533171008.png" title="1679384533171008.png" alt="2.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The Timken Company (NYSE: TKR;&nbsp;www.timken.com), a global leader in engineered <a href="https://www.wswbearings.com/products/catalogue.html" target="_blank"><strong>bearings</strong></a> and industrial motion products, has issued its&nbsp;2022 Annual Report, which celebrates a century since the company was first listed on the New York Stock Exchange and details its strategy to continue to scale as a high-performing diversified industrial leader.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">&quot;Timken remains a strong investment and is performing at a high level because of our diversification, technical sales model and best-in-class customer service provided by our global team of problem solvers,&quot; said&nbsp;Richard G. Kyle, president and chief executive officer. &quot;Our company is poised to capitalize on new opportunities in a world that values the sustainable solutions delivered by our engineering expertise.&quot;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken&#39;s annual report summarizes the company&#39;s 2022 financial results and other recent accomplishments, including:</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Record sales of&nbsp;$4.5 billion, a 9 percent increase versus 2021.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Record earnings per share on a GAAP and adjusted basis.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Top-quartile performance from 2017 to 2021 when compared with its peer groupi, outperforming them across key financial metrics.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The acquisitions of Spinea and GGB Bearings, further scaling Timken&#39;s presence in attractive products and market sectors.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Approximately&nbsp;$300&nbsp;million&nbsp;of cash returned to shareholders through dividends and share repurchases.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The ninth consecutive year of higher annual dividends and 402 consecutive quarters of dividends paid.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">&quot;Going forward, we are focused on further scaling the enterprise, accelerating the execution of our profitable growth strategy and continuing to achieve strong financial performance,&quot; Kyle said. &quot;Our objective is to profitably outgrow the industries in which we participate today while continuing to shift to higher-growth market sectors and technologies of tomorrow.&quot;</span></p><p><br/></p>