Modine Manufacturing Company to Invest $7 Million to Expand Manufacturing of Data Center Cooling Solutions   Richmond, VA (April 30, 2021) - Governor Ralph Northam today announced that Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, will invest $7 million to establish a manufacturing facility in Rockbridge County. The company will convert its former warehouse located at 360 Collierstown Road into an operation producing highly engineered data center cooling solutions. Virginia successfully competed with several other states for the project, which will create 60 new jobs after full ramp-up. “Virginia boasts the largest data center market in the country, and this growing industry requires state-of-the-art cooling systems manufactured by leaders like Modine,” said Governor Northam. “We are grateful that this longtime Virginia employer has decided to deepen its roots in our Commonwealth, creating 21st-century jobs and producing a high-demand, world-class product right here in the Shenandoah Valley.” Founded in 1916 and headquartered in Racine, Wisconsin, Modine Manufacturing Company specializes in thermal management systems and components, bringing highly engineered heating and cooling components and original equipment products and systems to diversified global markets. With 2020 revenues of $2 billion, Modine has operations in North America, South America, Europe, and Asia. The company has operated a manufacturing facility in Buena Vista, Virginia since 1963, employing more than 260 people. “A global company of Modine’s caliber expanding its manufacturing operations in Virginia is a testament to our business-friendly environment and our skilled workforce, and it reinforces our commitment to creating high-quality manufacturing jobs,” said Secretary of Commerce and Trade Brian Ball. “The Shenandoah Valley will provide a sustainable talent pipeline to support the company’s growth and development and we look forward to its continued success in the Commonwealth.” “For 58 years, we have partnered with Rockbridge County to become a leading supplier of HVAC solutions for a variety of markets and end users, and this investment signals a continued commitment to that mission,” said Neil Brinker, CEO of Modine Manufacturing Company. “This site was selected as a result of the capabilities of the workforce, both hourly and salaried, and our confidence in their ability to quickly and safely begin producing high-quality HVAC solutions for our data center customers. We are excited to work with the Commonwealth of Virginia and Rockbridge County to begin hiring and equipping these new employees to meet the needs of our customers.” The Virginia Economic Development Partnership (VEDP) worked with Rockbridge County, the Shenandoah Valley Partnership, and The Port of Virginia to secure the project for Virginia. Governor Northam approved a $194,000 grant from the Commonwealth’s Opportunity Fund to assist Rockbridge County with the project. Support for Modine Manufacturing Company’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners, with funding support from the Northam Administration and the Virginia General Assembly. Launched in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation. “The conversion of Modine’s warehousing facility in Rockbridge County to a manufacturing facility is a significant win for our region,” said Dan Lyons, Chairman of the Rockbridge County Board of Supervisors. “Modine’s financial investment in this facility and the creation of new jobs are vital to economic growth and prosperity. Modine has been a staple in our region for many years, and we look forward to the company’s continued success in Rockbridge.” “It is extremely gratifying when an existing company chooses to expand locally,” said Jay A. Langston, PhD, Executive Director of the Shenandoah Valley Partnership. “We strive to provide the best work climate, necessary workforce skills training, and business infrastructure possible in the Shenandoah Valley to help our business community thrive and flourish. Our gratitude goes out to Modine for the continued investment and jobs.” “The Port of Virginia applauds Modine Manufacturing’s decision to build its production facility in Virginia,” said Virginia Port Authority CEO and Executive Director Stephen A. Edwards. “Modine is an innovator and its products are in demand worldwide, so quick access to world markets and consistency in its logistics supply chain are critical to the company’s future. The investments we’ve made in our terminals will help provide the international access Modine needs for success. We look forward to a long, collaborative partnership with Modine.” “Modine has been an important part of the economic landscape in the Rockbridge area for more than 20 years, and with this investment, the company clearly signals that Rockbridge County and Virginia are a good investment” said Senator Creigh Deeds. “I am delighted that the Governor’s office was able to assist in securing this project to make sure that we can build a 21st-century economy in Rockbridge County and Virginia. I could not be more excited that even in this time of pandemic, we are able to deliver good economic news to the people of Rockbridge County.”

* * * * *