Atmus Filtration Technologies Announces Launch of Initial Public Offering

Atmus Filtration Technologies Inc. (Atmus), the Filtration business unit of Cummins Inc. (Cummins; NYSE: CMI), today announced that it has launched a roadshow for its proposed initial public offering (IPO).

The IPO is for 14,124,409 shares of the common stock of Atmus currently owned by Cummins. The underwriters will also be granted a 30-day option to purchase up to an additional 2,118,661 shares at the IPO price, less underwriting discounts and commissions.

The IPO price is currently expected to be between $18 and $21 per share. Atmus has applied to list its common stock on the New York Stock Exchange (NYSE) under the symbol “ATMU.” Upon completion of the IPO, Cummins is expected to hold approximately 83.0% of Atmus’ outstanding shares, or 80.5% if the underwriters' option to purchase additional shares is exercised in full.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). This announcement is being issued in accordance with Rule 134 under the Securities Act.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will act as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Baird, BofA Securities, Wells Fargo Securities and HSBC will also act as joint book-running managers. PNC Capital Markets LLC, BTIG, ING, KeyBanc Capital Markets, Loop Capital Markets and Siebert Williams Shank will act as co-managers. The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained for free from (i) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: [phone], or via email: [e-mail]; (ii) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at [phone], or via e-mail at [e-mail].