PTC Inc.

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (UNAUDITED)

(in thousands)

Three Months Ended

Nine Months Ended

June 30,

June 30,

June 30,

June 30,

2023

2022

2023

2022

Cash provided by operating activities ⁽¹⁾

$

169,223

$

116,766

$

561,092

$

396,827

Capital expenditures

(5,085)

(4,470)

(18,035)

(9,979)

Free cash flow ⁽¹⁾

$

164,138

$

112,296

$

543,057

$

386,848

(1) In the three and nine months ended June 30, 2023, we made $2.8 million and $9.3 million of acquisition and transaction-related payments, respectively, and $0.0 million and $1.4 million of restructuring payments, respectively. In the three and nine months ended June 30, 2022, we made $9.7 million and $10.1 million acquisition and transaction-related payments, respectively, and $10.2 million and $38.5 million of restructuring payments, respectively. These payments are included within cash provided by operating activities and free cash flow.