2025 Annual Report and Notice of Annual Meeting to Shareholders

Dear Fellow Shareholders,

2025 was another year of strong shareholder value creation for Hubbell, as we made significant progress on our long‑term strategy and effectively deployed record free cash flow⁽¹⁾ generation to high return investments.

We generated 4% sales growth, 80 basis points of adjusted operating margin⁽¹⁾ expansion and 10% growth in adjusted diluted earnings per share⁽¹⁾. While full year organic growth was challenged by headwinds in meters and AMI markets, we delivered strong performance in our largest, high margin businesses within our Utility Solutions and Electrical Solutions segments. Our 2025 financial results successfully compound on a strong multi‑year base of outperformance which demonstrates the quality of our business model and the effectiveness of our long‑term strategy.

Hubbell’s strategy is guided by our four strategic pillars of Serve our Customer, Grow the Enterprise, Operate with Discipline, and Develop our People, and we made further significant progress on these pillars in 2025. Most notably, our execution on our strategy to unify our Electrical Solutions segment to compete collectively drove above market growth in strategic vertical markets through our solutions‑oriented service model, while also driving business simplification and operational efficiencies resulting in continued margin expansion. In Utility Solutions, we capitalized on attractive trends in load growth and grid resiliency to deliver double digit growth in transmission and substation markets, while investing in capacity initiatives and new solutions to serve highly visible future demand. Operationally, our sales, procurement, business and trade teams came together to navigate a dynamic tariff and inflationary environment, maintaining strong service levels for customers and effectively mitigating the impacts to our businesses and supply chains.

Hubbell remains focused on driving operational excellence in our factories and warehouses, while ensuring the safety of our employees and delivering on key service metrics for customers. We made critical investments in 2025 to accelerate productivity and standardize our manufacturing systems, as well as in initiatives to make our customer experience more seamless, integrated and responsive. Most importantly, we continued to invest in our employees and remained committed to developing our talent.

On that front, in September 2025, Hubbell announced the retirement of CFO Bill Sperry effective December 31, 2025, after 17 years of distinguished service to the Company, including 14 years as CFO. Joe Capozzoli, the Vice President, Finance of Hubbell’s Electrical Solutions segment was appointed to succeed Bill as CFO effective on January 1, 2026. Joe joined Hubbell in 2013, serving in various senior finance, strategy, and operational roles prior to his HES segment finance role. We thank Bill for all of his contributions to Hubbell and welcome Joe to his new role. We also welcomed Ed Baine to Hubbell’s Board of Directors in August 2025. Ed brings valuable executive leadership and a deep utility and operations background to the Board and has joined the Board’s Compensation and Finance Committees. Hubbell’s Board remains committed to Board refreshment as Ed is the fifth new director Hubbell has added since 2020.

Record free cash flow⁽¹⁾ generation of $875 million enabled Hubbell to return value to shareholders while also deploying capital to high return investments in capital expenditures and acquisitions. We acquired three new businesses in 2025, including the acquisition of DMC Power, a high growth and margin business serving attractive utility substation markets. We invested $155 million in capital expenditures to drive future growth and productivity in our facilities. We also repurchased $225 million of Hubbell stock and increased our dividend by 8%, representing our eighteenth consecutive year of increase.

As I look ahead to 2026 and beyond, I am excited for the opportunities in front of us and confident in our ability to execute on them. Hubbell’s mission is to Electrify economies and Energize communities, and we are uniquely positioned at the intersection of accelerating megatrends in grid modernization and electrification. Our portfolio of best‑in‑class critical infrastructure solutions will serve the evolving needs of utility and electrical customers as they actively invest on both sides of the meter to connect more electrical infrastructure into an expanding and modernizing grid. Consistent execution across each of our strategic pillars will ensure that we continue to generate significant value for all of our customers, employees and shareholders.

On behalf of the Board and our management team, thank you for your continued support and investment in Hubbell.

Sincerely,

(1) Adjusted diluted earnings per share, adjusted operating margin and free cash flow are non‑GAAP financial measures. A reconciliation to the comparable GAAP financial measures can be found in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10‑K for the year ended December 31, 2025, filed with the SEC on February 12, 2026.