Pentair Prices $400 Million Senior Notes Offering

LONDON–(BUSINESS WIRE)–Pentair plc (NYSE: PNR) announced today that Pentair Finance S.à r.l., a
wholly-owned subsidiary of Pentair plc, priced a public offering of $400
million of 4.500% senior notes due 2029. The notes will be fully and
unconditionally guaranteed as to payment of principal and interest by
Pentair plc and Pentair Investments Switzerland GmbH, a wholly-owned
subsidiary of Pentair plc. The offering is expected to close on June 21,
2019, subject to customary closing conditions. Pentair intends to use
the net proceeds of the offering to repay outstanding commercial paper
issued by Pentair Finance S.à r.l. and for general corporate purposes.

J.P. Morgan Securities LLC, BofA Securities, Inc. and Citigroup Global
Markets Inc. are the joint lead active book-running managers for the
offering.

The offering is being made only by means of a prospectus supplement and
accompanying prospectus, which are part of an effective shelf
registration statement that Pentair plc, Pentair Finance S.à r.l. and
Pentair Investments Switzerland GmbH filed with the Securities and
Exchange Commission, copies of which may be obtained by calling J.P.
Morgan Securities LLC collect at (212) 834-4533, calling BofA
Securities, Inc. toll-free at (800) 294-1322 or emailing at [email protected]
or calling Citigroup Global Markets Inc. toll-free at (800) 831-9146 or
e-mailing at [email protected].
An electronic copy of the prospectus supplement and accompanying
prospectus is available from the Securities and Exchange Commission’s
website at www.sec.gov.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.

ABOUT PENTAIR PLC
At Pentair, we believe the health of our
world depends on reliable access to clean water. We deliver a
comprehensive range of smart, sustainable water solutions to homes,
business and industry around the world. Our industry leading and proven
portfolio of solutions enables our customers to access clean, safe
water. Whether it’s improving, moving or enjoying water, we help manage
the world’s most precious resource. Smart, Sustainable, Water Solutions.
For Life.

Pentair had revenue in 2018 of $3 billion, and trades under the ticker
symbol PNR. With approximately 110 locations in 30 countries and 10,000
employees, we believe that the future of water depends on us.

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. 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 overall global
economic and business conditions impacting our business, including the
strength of housing and related markets; demand, competition and pricing
pressures in the markets we serve; volatility in currency exchange
rates; failure of markets to accept new product introductions and
enhancements; the ability to successfully identify, finance, complete
and integrate acquisitions; the ability to successfully integrate the
Aquion, Inc. and Pelican Water Systems acquisitions; the ability to
achieve the benefits of our restructuring plans and cost reduction
initiatives; risks associated with operating foreign businesses; the
impact of material cost and other inflation; the impact of seasonality
of sales and weather conditions; our ability to comply with laws and
regulations; the impact of changes in laws, regulations and
administrative policy, including those that limit U.S. tax benefits or
impact trade agreements and tariffs; the outcome of litigation and
governmental proceedings; the ability to realize the anticipated
benefits from the separation of our Electrical business from the rest of
Pentair; 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 U.S. Securities and Exchange
Commission, including in our 2018 Annual Report on Form 10-K. All
forward-looking statements speak only as of the date of this press
release. We assume no obligation, and disclaim any obligation, to update
the information contained in this press release.

Contacts

PENTAIR CONTACTS:
Jim Lucas
Senior Vice President,
Investor Relations and Treasurer
Direct: 763-656-5575
Email: [email protected]

Rebecca Osborn
Senior Manager, External Communications
Direct:
763-656-5589
Email: [email protected]

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