nVent Announces Results of Exchange Offer for 3.950% Senior Notes Due 2023 and 4.550% Senior Notes Due 2028

LONDON–(BUSINESS WIRE)–nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical
connection and protection solutions, today announced the results of the
exchange offer by nVent Finance S.à r.l., a wholly-owned subsidiary of
nVent (the “Issuer”), to exchange all of its outstanding, unregistered
3.950% Senior Notes due 2023 (the “Original 2023 Notes”) and all of its
outstanding, unregistered 4.550% Senior Notes due 2028 (the “Original
2028 Notes” and with the Original 2023 Notes, the “Original Notes”) for
new, registered 3.950% Senior Notes due 2023 and 4.550% Senior Notes due
2028, respectively (collectively, the “New Notes”). The New Notes will
be fully and unconditionally guaranteed as to the due and punctual
payment of the principal of, premium, if any, and interest and
additional amounts, if any, on the New Notes by nVent.

nVent has been advised by U.S. Bank National Association, the exchange
agent for the exchange offer, that, as of 5:00 p.m., New York City time,
October 16, 2018, holders of 100.00% of the $300,000,000 aggregate
principal amount of Original 2023 Notes and holders of 99.96% of the
$500,000,000 aggregate principal amount of Original 2028 Notes
(excluding Original 2028 Notes tendered by guaranteed delivery) had
validly tendered pursuant to the terms of the exchange offer. The
settlement date for the exchange offer is expected to occur on October
22, 2018.

The terms of the New Notes to be issued in the exchange offer are
substantially identical to those of the Original Notes, except that the
New Notes will not have securities law transfer restrictions, and the
registration rights relating to the Original Notes and the New Notes
will not provide for the payment of additional interest under
circumstances relating to the timing of the exchange offer.

About nVent

nVent is a leading global provider of electrical connection and
protection solutions. We believe our inventive electrical solutions
enable safer systems and ensure a more secure world. We design,
manufacture, market, install and service high performance products and
solutions that connect and protect some of the world’s most sensitive
equipment, buildings and critical processes. We offer a comprehensive
range of enclosures, electrical connections and fastening and thermal
management solutions across industry-leading brands that are recognized
globally for quality, reliability and innovation. Our principal office
is in London, United Kingdom and our management office in the United
States is in Minneapolis, Minnesota. Our robust portfolio of leading
electrical product brands dates back more than 100 years and includes
nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks
owned or licensed by nVent Services GmbH or its affiliates.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that we believe to be
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other than
statements of historical fact are forward-looking statements. Without
limitation, any statements preceded or followed by or that include the
words “targets,” “plans,” “believes,” “expects,” “intends,” “will,”
“likely,” “may,” “anticipates,” “estimates,” “projects,” “should,”
“would,” “positioned,” “strategy,” “future” or words, phrases or terms
of similar substance or the negative thereof, are forward-looking
statements. All projections in this press release are also
forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to risks,
uncertainties, assumptions and other factors, some of which are beyond
our control, which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. These
factors include the ability to realize the anticipated benefits from our
separation from Pentair (the “Separation”); adverse effects on our
business operations or financial results as a result of the consummation
of the Separation; the ability of our business to operate independently
following the Separation; overall global economic and business
conditions impacting our business; the ability to achieve the benefits
of our restructuring plans; the ability to successfully identify,
finance, complete and integrate acquisitions; competition and pricing
pressures in the markets we serve, including the impacts of tariffs; the
strength of housing and related markets; volatility in currency exchange
rates and commodity prices; inability to generate savings from
excellence in operations initiatives consisting of lean enterprise,
supply management and cash flow practices; increased risks associated
with operating foreign businesses; the ability to deliver backlog and
win future project work; failure of markets to accept new product
introductions and enhancements; the impact of changes in laws and
regulations, including those that limit U.S. tax benefits; the outcome
of litigation and governmental proceedings; and the ability to achieve
our long-term strategic operating goals. Additional information
concerning these and other factors is contained in our filings with the
Securities and Exchange Commission, including nVent’s Registration
Statement on Form S-4. All forward-looking statements speak only as of
the date of this press release. nVent assumes no obligation, and
disclaims any obligation, to update the information contained in this
press release.

Contacts

nVent Electric plc
Investor Contact
J.C.
Weigelt, 763-204-7750
Vice President, Investor Relations
JC.Weigelt@nVent.com
or
Media
Contact

Jill Saletta, 763-204-7771
Vice President,
Communications
Jill.Saletta@nVent.com

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