This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains information about Crane NXT, Co., some of which includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical information or statements about our current condition. Investors can identify forward-looking statements by the use of terms such as “believes,” “contemplates,” “expects,” “may,” “could,” “should,” “would,” or “anticipates,” other similar phrases, or the negatives of these terms. We have based the forward-looking statements relating to our operations on our current expectations, estimates and projections about us and the markets we serve. We caution investors that these statements are not guarantees of future performance and are subject to risks, uncertainties and other important factors. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. There are a number of other factors that could cause actual results or outcomes to differ materially from those expressed or implied in the forward-looking statements. Such factors also include, among others: the impact of tariffs and other trade measures; changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations; demand for our products, which is variable and subject to factors beyond our control; risks associated with conducting a substantial portion of our business outside the U.S.; information systems and technology networks failures, breaches in data security, theft of personally identifiable and other information, and non-compliance with our contractual or other legal obligations regarding such information; being unable to identify or complete acquisitions, or to successfully integrate the businesses we acquire; fluctuation in the prices of, or disruption in our ability to source, components and raw materials, and delays in the distribution of our products; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow our business as planned; being unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position; governmental regulations and failure to comply with those regulations; the ability to protect our intellectual property; risks from litigation, claims and investigations, including those related to product liability and warranties, and employee, commercial, intellectual property and environmental matters; risks related to our ability to improve productivity, reduce costs and align manufacturing capacity with customer demand; significant competition in our markets; additional tax expenses or exposures; adverse impacts from intangible asset impairment charges; inadequate or ineffective internal controls; and risks related to the separation in 2023 from Crane Company, including not obtaining the intended tax treatment of the separation transaction, failure of Crane Company to perform under the various transaction agreements and actual or potential conflicts of interest with Crane Company; and other risks noted in reports that we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and this Quarterly Report, and subsequent reports and other documents filed with the Securities and Exchange Commission. We do not undertake any obligation to update or revise any forward-looking statements to reflect any future events or circumstances. References herein to “Crane NXT,” “the Company,” “we,” “us” and “our” refer to Crane NXT, Co. and its subsidiaries. References to "organic sales” exclude currency effects and, where applicable, the first-year impacts of acquisitions and divestitures. Amounts in the following discussion are presented in millions, except employee, share and per share data, or unless otherwise stated. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in identifying underlying growth trends in our business and facilitate comparison of our sales performance, for example, with prior and future periods that are complementary to GAAP metrics. 25 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Recent Transactions Antares Vision Acquisition On March 31, 2026, the Company completed its multi-phase acquisition of Antares Vision S.p.A. (“Antares Vision”), resulting in 100% ownership. Antares Vision is included with Crane Payment Innovations within the Detection and Traceability Technologies segment and enhances the Company's inspection, detection and track-and-trace capabilities serving life sciences and food and beverage customers. Credit Facilities In the six months ended June 30, 2026, we borrowed €317.9 million, or $366.9 million, under the Term Loan B to fund the acquisition of Antares Vision and assumed $123.5 million of Antares Vision debt, $115.1 million of which was subsequently repaid in the second quarter of 2026. We borrowed $159.4 million and repaid $101.0 million on our Revolving Facility to fund the settlement of Antares Vision debt and working capital requirements. In addition, we repaid $112.4 million of Term Loan A. Conflict in the Middle East The Company is closely monitoring the ongoing conflict in the Middle East. During the quarter we experienced related supply chain and cost pressures, including higher freight costs and extended lead times. Through proactive supply chain management and other mitigation actions, we maintained operational continuity and do not believe these impacts materially affected our consolidated financial results during the period. We will continue to monitor developments, as further escalation or prolonged disruption could adversely affect future operating results and cash flows. Basis of Presentation See Note 1, “Organization and Basis of Presentation” for more details on financial statement presentation basis. 26 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Results from Operations – Three Month Periods Ended June 30, The following information should be read in conjunction with our Unaudited Condensed Consolidated financial statements and related notes. All comparisons below refer to the second quarter 2026 versus the second quarter 2025, unless otherwise specified. Three Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales $ 493.2 $ 404.4 $ 88.8 22.0 % Cost of sales $ 284.6 $ 235.6 $ (49.0) (20.8) % as a percentage of sales 57.7 % 58.3 % Selling, general and administrative $ 136.3 $ 113.6 $ (22.7) (20.0) % as a percentage of sales 27.6 % 28.1 % Restructuring charges 3.4 7.3 3.9 53.4 % Operating profit $ 68.9 $ 47.9 $ 21.0 43.8 % Operating margin 14.0 % 11.8 % Other income (expense): Interest expense (21.0) (16.4) (4.6) (28.0) % Equity investment income 0.1 0.3 (0.2) NM Miscellaneous (expense) income, net (0.1) 1.0 (1.1) NM Total other expense, net (21.0) (15.1) (5.9) (39.1) % Income before income taxes 47.9 32.8 15.1 46.0 % Provision for income taxes 11.7 7.8 (3.9) (50.0) % Net income before allocation to noncontrolling interest $ 36.2 $ 25.0 $ 11.2 44.8 % Less: noncontrolling interest in subsidiaries’ earnings $ 0.8 $ 0.1 $ 0.7 NM Net income attributable to common shareholders $ 35.4 $ 24.9 $ 10.5 42.2 % Sales increased by $88.8 million, or 22.0%, to $493.2 million in 2026. The change in sales included: •the sales benefit from the Antares Vision and De La Rue acquisitions of $74.6 million, or 18.4%, •organic sales growth of $11.3 million, or 2.8%, driven by the Currency business, and •favorable foreign currency translation of $2.9 million, or 0.8%. Cost of sales increased by $49.0 million, or 20.8%, to $284.6 million in 2026. The increase was driven by the impact of the Antares Vision and De La Rue acquisitions of $34.8 million, or 14.8%, acquisition related amortization, and unfavorable mix, partially offset by productivity gains. Selling, general and administrative expenses increased by $22.7 million, or 20.0%, to $136.3 million in 2026. The increase was driven by the impact of acquisitions, partially offset by lower transaction related expenses and the impact of cost saving actions. Operating profit increased by $21.0 million, or 43.8%, to $68.9 million in 2026. The increase was driven by the SAT segment from the impact of higher sales volumes in the Currency business, productivity gains and cost saving actions in Crane Authentication, favorable pricing across both segments, the impact of cost saving actions in CPI and lower transaction related expenses of $8.0 million, or 16.7%. These favorable impacts were partially offset by acquisition related amortization in Antares Vision, the impact of lower volumes in CPI, and unfavorable mix across both segments. Our effective tax rate for the three months ended June 30, 2026 was higher than the prior year’s comparable period primarily due to the mix of non-U.S. earnings. 27 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Segment Results of Operations - Three Month Periods Ended June 30, Security and Authentication Technologies (“SAT”) Three Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales by product line: Banknotes and Security Products $ 165.5 $ 143.5 $ 22.0 15.3 % Authentication Products and Solutions 61.2 49.5 11.7 23.6 % Total net sales $ 226.7 $ 193.0 $ 33.7 17.5 % Cost of sales $ 141.9 $ 123.9 $ (18.0) (14.5) % as a percentage of sales 62.6 % 64.2 % Selling, general and administrative $ 45.0 $ 45.0 $ — 0.0 % as a percentage of sales 19.9 % 23.3 % Restructuring charges $ 0.8 $ 6.1 $ 5.3 NM Operating profit $ 39.0 $ 18.0 $ 21.0 NM Operating margin 17.2 % 9.3 % Sales increased by $33.7 million, or 17.5%, to $226.7 million in 2026, driven by organic sales growth of $18.5 million, or 9.6%, the sales benefit from the De La Rue acquisition of $10.9 million, or 5.6%, and favorable foreign exchange of $4.3 million or 2.2%. •Banknote and security product sales increased by $22.0 million, or 15.3%, to $165.5 million in 2026. The increase was driven by organic sales growth of $18.7 million, or 13.0%, reflecting higher volumes from international markets. Favorable foreign currency translation of $3.3 million, or 2.3%, reflects the strengthening of the Swedish krona and euro against the U.S. dollar. •Authentication products and solutions sales increased by $11.7 million, or 23.6% in 2026, mainly driven by the sales benefit from the De La Rue acquisition. Cost of sales increased by $18.0 million, or 14.5%, to $141.9 million in 2026, due to the impact of the De La Rue acquisition of $7.7 million, or 6.2%, acquisition related amortization, unfavorable mix and the impact of higher volumes in the Currency business, and unfavorable foreign currency translation, partially offset by productivity gains. Selling, general and administrative expense was flat compared with the prior year period, as cost savings actions offset the impact of the De La Rue acquisition. Operating profit increased by $21.0 million, to $39.0 million in 2026, driven by productivity gains of $18.4 million, primarily from cost saving actions in the Crane Authentication business, and the impact of higher volumes of $8.5 million, or 47.2%, in the Currency business, partially offset by unfavorable mix of $6.4 million, or 35.6%. 28 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Detection and Traceability Technologies (“DTT”) Three Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales by product line: Detection and Inspection Products and Solutions $ 215.3 $ 177.1 $ 38.2 21.6 % Services 51.2 34.3 16.9 49.3 % Total net sales $ 266.5 $ 211.4 $ 55.1 26.1 % Cost of sales $ 142.7 $ 111.7 $ (31.0) (27.8) % as a percentage of sales 53.5 % 52.8 % Selling, general and administrative $ 77.3 $ 49.5 $ (27.8) (56.2) % as a percentage of sales 29.0 % 23.4 % Restructuring charges $ 2.5 $ 1.2 $ (1.3) NM Operating profit $ 44.0 $ 49.0 $ (5.0) (10.2) % Operating margin 16.5 % 23.2 % Sales increased by $55.1 million, or 26.1%, to $266.5 million in 2026, driven by sales benefit from the Antares Vision acquisition of $63.7 million, or 30.1%, partially offset by lower organic sales of $7.2 million, or 3.4% and unfavorable foreign currency translation of $1.4 million, or 0.6%. •Sales of Detection and Inspection products and solutions increased by $38.2 million, or 21.6%, to $215.3 million in 2026. The increase was driven by sales benefit from the Antares Vision acquisition of $48.4 million, 27.3%, partially offset by organic sales decline of $8.8 million, or 5.0%, due to lower volumes in hardware and vending, and unfavorable foreign currency translation of $1.4 million, or 0.7%, reflecting the weakening of the Japanese yen against the U.S. dollar, partially offset by strengthening of the Australian dollar against the U.S. dollar. •Service revenue increased by $16.9 million, or 49.3%, to $51.2 million in 2026, driven by sales benefit from the Antares Vision acquisition of $15.3 million, or 44.6%, and favorable pricing. Cost of sales increased by $31.0 million, or 27.8%, to $142.7 million in 2026, driven by the impact of the Antares Vision acquisition of $27.1 million, or 24.3%, acquisition related amortization and unfavorable mix of $5.8 million, or 5.2%, partially offset by the impact of lower sales volumes. Selling, general and administrative expense increased by $27.8 million, or 56.2%, to $77.3 million in 2026. The increase was driven by the impact of the Antares Vision acquisition, partially offset by the impact of cost saving actions. Operating profit decreased by $5.0 million, or 10.2%, to $44.0 million in 2026. The decrease reflects acquisition related amortization as a result of Antares Vision acquisition, impact of lower volumes and unfavorable mix in CPI of $28.7 million, or 58.6%, partially offset by favorable pricing net of inflation and the impact of cost saving actions of $20.1 million, or 41%. 29 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Results from Operations – Six Month Periods Ended June 30, The following information should be read in conjunction with our Unaudited Condensed Consolidated Financial Statements and related notes. All comparisons below refer to the first six months of 2026 versus the first six months of 2025, unless otherwise specified. Six Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales $ 880.9 $ 734.7 $ 146.2 19.9 % Cost of sales $ 516.4 $ 425.7 $ (90.7) (21.3) % as a percentage of sales 58.6 % 57.9 % Selling, general and administrative $ 266.9 $ 216.5 $ (50.4) (23.3) % as a percentage of sales 30.3 % 29.5 % Restructuring charges $ 6.5 $ 7.3 $ 0.8 11.0 % Operating profit $ 91.1 $ 85.2 $ 5.9 6.9 % Operating margin 10.3 % 11.6 % Other income (expense): Interest expense (38.8) (27.9) (10.9) (39.1) % Equity investment income 4.8 0.4 4.4 NM Miscellaneous income, net — 3.2 (3.2) (100.0) % Total other expense, net (34.0) (24.3) (9.7) (39.9) % Income before income taxes 57.1 60.9 (3.8) (6.2) % Provision for income taxes 14.1 14.2 0.1 0.7 % Net income before allocation to noncontrolling interests 43.0 46.7 (3.7) (7.9) % Less: noncontrolling interest in subsidiaries’ earnings 1.2 0.1 1.1 NM Net income attributable to common shareholders $ 41.8 $ 46.6 $ (4.8) (10.3) % Sales increased by $146.2 million, or 19.9%, to $880.9 million in 2026. The change in sales included: •the sales benefit from the De La Rue and Antares Vision acquisitions of $101.1 million, or 13.8%, •organic sales growth of $29.6 million, or 4.0%, driven by the Currency business, and •favorable foreign currency translation of $15.5 million, or 2.1%. Cost of sales increased by $90.7 million, or 21.3%, to $516.4 million in 2026. The increase was driven by the impact of the De La Rue and Antares Vision acquisitions of $53.7 million, or 12.6%, acquisition related amortization and unfavorable mix, partially offset by productivity gains. Selling, general and administrative expenses increased by $50.4 million, or 23.3%, to $266.9 million in 2026. The increase was driven by the impact of the acquisitions, partially offset by cost saving actions. Operating profit increased by $5.9 million, or 6.9%, to $91.1 million in 2026. The increase was driven by the impact of higher volumes in SAT, favorable pricing net of inflation in DTT, and productivity gains including the benefit of cost saving actions across both segments. These increases were partially offset by acquisition related amortization in Antares Vision and unfavorable mix. Our effective tax rate for the six months ended June 30, 2026 was higher than the prior year’s comparable period primarily due to mix of non-U.S. earnings. 30 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Segment Results of Operations - Six Month Periods Ended June 30, Security and Authentication Technologies Six Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales by product line: Banknotes and Security Products $ 305.9 $ 236.9 $ 69.0 29.1 % Authentication Products and Solutions 113.6 83.5 30.1 36.0 % Total Net sales $ 419.5 $ 320.4 $ 99.1 30.9 % Cost of sales $ 271.0 $ 210.2 $ (60.8) (28.9) % as a percentage of sales 64.6 % 65.6 % Selling, general and administrative $ 91.4 $ 83.7 $ (7.7) (9.2) % as a percentage of sales 21.8 % 26.1 % Restructuring charges $ 3.1 $ 6.1 $ 3.0 49.2 % Operating profit $ 54.0 $ 20.4 $ 33.6 164.7 % Operating margin 12.9 % 6.4 % Sales increased by $99.1 million, or 30.9%, to $419.5 million in 2026, reflecting the sales benefit from the De La Rue acquisition of $37.4 million, or 11.7%, higher organic sales of $47.1 million, or 14.7% and favorable foreign currency translation of $14.6 million, or 4.6%. •Banknote and security product sales increased by $69.0 million, or 29.1%, to $305.9 million in 2026, reflecting higher organic sales growth in both the U.S. and international markets, and favorable foreign currency translation, as the Swedish Krona and euro strengthened against the U.S. dollar. •Authentication products and solutions sales increased by $30.1 million, or 36.0%, to $113.6 million in 2026, driven by the sales benefit from the De La Rue acquisition. Cost of sales increased by $60.8 million, or 28.9%, to $271.0 million in 2026, due to the impact of the De La Rue acquisition of $26.6 million, or 12.7%, acquisition related amortization, the impact of higher volumes in the Currency business, higher manufacturing expenses, unfavorable mix and foreign currency translation, partially offset by productivity gains. Selling, general and administrative expense increased by $7.7 million, or 9.2%, to $91.4 million in 2026, driven by the impact of the De La Rue acquisition, partially offset by cost saving actions. Operating profit increased by $33.6 million, or 164.7%, to $54.0 million in 2026, driven by the impact of higher volumes of $33.0 million in the Currency business. Productivity gains including the impact of cost saving actions were largely offset by acquisition related amortization and unfavorable mix. 31 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Detection and Traceability Technologies Six Months Ended June 30, Favorable/(Unfavorable) Change (in millions) 2026 2025 $ % Net sales by product line: Detection and Inspection Products and Solutions $ 375.4 $ 347.0 $ 28.4 8.2 % Services 86.0 67.3 18.7 27.8 % Total net sales $ 461.4 $ 414.3 $ 47.1 11.4 % Cost of sales $ 245.4 $ 215.5 $ (29.9) (13.9) % as a percentage of sales 53.2 % 52.0 % Selling, general and administrative $ 137.2 $ 98.9 $ (38.3) (38.7) % as a percentage of sales 29.7 % 23.9 % Restructuring charges $ 3.4 $ 1.2 $ (2.2) NM Operating profit $ 75.4 $ 98.7 $ (23.3) (23.6) % Operating margin 16.3 % 23.8 % Sales increased by $47.1 million, or 11.4%, to $461.4 million in 2026, driven by sales benefit from Antares Vision acquisition of $63.7 million, or 15.4%, and favorable foreign currency translation of $0.9 million, or 0.2%, partially offset by lower organic sales of $17.5 million, or 4.2%. •Sales of Detection and Inspection Products and Solutions increased by $28.4 million, or 8.2%, to $375.4 million in 2026. The increase was driven by the Antares Vision acquisition, which contributed $48.4 million, or 13.9%, and favorable foreign currency translation of $0.8 million, or 0.3%, reflecting the strengthening of the British pound and Australian dollar against the U.S. dollar, partially offset by the weakening of the Japanese yen against the U.S. dollar. This increase was partially offset by lower organic sales of $20.8 million, or 6.0%, as favorable pricing was more than offset by lower volumes in hardware and vending. •Service revenue increased by $18.7 million, or 27.8%, to $86.0 million in 2026, driven by sales benefit from Antares Vision acquisition of $15.3 million, or 22.7%, and favorable pricing. Cost of sales increased by $29.9 million, or 13.9%, to $245.4 million in 2026, driven by the impact of Antares Vision acquisition, and unfavorable mix, partially offset by impact of lower sales volumes. Selling, general and administrative expense increased by $38.3 million, or 38.7%, to $137.2 million in 2026, due to the impact of the Antares Vision acquisition, partially offset by cost saving actions. Operating profit decreased by $23.3 million, or 23.6%, to $75.4 million in 2026, due to incremental costs associated with the Antares Vision acquisition including amortization and stock-based compensation expense of $23.1 million, or 23.4%. Favorable pricing net of inflation and productivity gains, including the benefit of cost saving actions, of $24.2 million, or 24.5% were more than offset by lower volumes and unfavorable mix in CPI of $25.7 million, or 26.0%. 32 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Liquidity and Capital Resources Six Months Ended June 30, (in millions) 2026 2025 Net cash provided by (used for): Operating activities $ 72.7 $ 43.7 Investing activities (244.1) (412.6) Financing activities 170.3 344.8 Effect of exchange rates on cash, cash equivalents and restricted cash (4.0) 15.2 Decrease in cash, cash equivalents and restricted cash $ (5.1) $ (8.9) Our operating philosophy is to deploy cash provided from operating activities, when appropriate, to provide value to stockholders by reinvesting in existing businesses, by making acquisitions that will strengthen and complement our portfolio; by divesting businesses that are no longer strategic or aligned with our portfolio and where such divestitures can generate capacity for strategic investments and initiatives that further optimize our portfolio; by paying dividends, repurchasing shares and repaying prepayable debt. At any given time, and from time to time, we may be evaluating one or more of these opportunities, although we cannot assure you if or when we will consummate any such transactions. Our current cash balance, together with cash we expect to generate from future operations along with borrowings available under the Credit Agreement, is expected to be sufficient to finance our short- and long-term capital requirements. In the six months ended June 30, 2026, we performed the following debt related activity: •Borrowed €317.9 million, or $366.9 million, under the Term Loan B to fund the acquisition of Antares Vision. •Assumed $123.5 million of Antares Vision debt, of which $115.1 million was repaid during the second quarter of 2026. The remaining balance was repaid subsequent to the quarter-end. •Borrowed $159.4 million and repaid $101.0 million on our Revolving Facility to fund the repayment of Antares Vision debt and support working capital needs. •Repaid $112.4 million of borrowings under Term Loan A during the six month ended June 30, 2026. Operating Activities Cash provided by operating activities was $72.7 million in the first six months of 2026, compared with $43.7 million in the prior year period, reflecting higher sales partially offset by higher working capital usage. Investing Activities Cash used for investing activities primarily consists of cash used for capital expenditures and acquisitions. Capital expenditures are made primarily for increasing capacity, replacing equipment, supporting new product development, and improving information systems. Cash used for investing activities was $244.1 million in the first six months of 2026, compared with $412.6 million in the prior year period, due to lower acquisition related cash outflows in 2026 following the Antares Vision step acquisition initiated in the fourth quarter of 2025. Financing Activities Cash provided by (used for) financing activities consists primarily of dividend payments to shareholders, repayments of indebtedness, and proceeds from our credit facilities. Cash provided by financing activities was $170.3 million during the first six months of 2026, compared with $344.8 million in the prior year period, reflecting higher repayments of acquisition related debt, including debt assumed in connection with the Antares Vision acquisition. Recent Accounting Pronouncements Information regarding new accounting pronouncements is included in Note 1 to our Unaudited Condensed Consolidated Financial Statements. 33