Atmus Filtration Technologies Announces Pricing of Initial Public Offering

Atmus Filtration Technologies Inc. (Atmus), the Filtration business unit of Cummins Inc. (Cummins; NYSE: CMI), today announced the pricing of its initial public offering (IPO) of 14,124,409 shares of its common stock owned by Cummins at a price to the public of $19.50 per share. The shares are expected to begin trading on the New York Stock Exchange (NYSE) on May 26, 2023 under the ticker symbol “ATMU.” Atmus is not selling any shares and will not receive any proceeds from the sale of shares in the offering. The offering is expected to close on May 30, 2023, subject to customary closing conditions.

The underwriters have been granted a 30-day option to purchase up to an additional 2,118,661 common shares at the IPO price, less underwriting discounts and commissions. Upon completion of the IPO, Cummins is expected to hold approximately 83.0% of Atmus, or 80.5% if the underwriters' option to purchase additional shares is exercised in full.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers and as representatives of the underwriters for the offering. Baird, BofA Securities, Wells Fargo Securities and HSBC are also acting as joint book-running managers. PNC Capital Markets LLC, BTIG, ING, KeyBanc Capital Markets, Loop Capital Markets and Siebert Williams Shank are acting as co-managers. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the 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].

A registration statement on Form S-1 relating to these securities was filed with the SEC and became effective on May 25, 2023. 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.