# EDGAR Filing Document

**Accession Number:** 0001720635
**File Stem:** 0001628280-25-032856
**Filing Date:** 2025-6
**Character Count:** 49029
**Document Hash:** b5e164a426de6405ab8702502445cb53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-032856.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001628280-25-032856

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** nVent Electric plc
- **CENTRAL INDEX KEY:** 0001720635
- **STANDARD INDUSTRIAL CLASSIFICATION:** SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY) [3550]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 981391970
- **STATE OF INCORPORATION:** L2
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38265
- **FILM NUMBER:** 251069737

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** THE MILLE
- **STREET 2:** 1000  GREAT WEST ROAD, 8TH FLOOR (EAST)
- **CITY:** LONDON
- **PROVINCE COUNTRY:** L2
- **BUSINESS PHONE:** 763-204-7700

**MAIL ADDRESS:**
- **STREET 1:** C/O NVENT MANAGEMENT COMPANY
- **STREET 2:** 1665 UTICA AVE., SUITE 700
- **CITY:** ST. LOUIS PARK
- **STATE:** MN
- **ZIP:** 55416

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 11-K**

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|:---|:---|
| 🗹 | **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |

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**For the fiscal year ended December 31, 2024**

**OR**

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| | |
|:---|:---|
| ◻ | **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |

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**Commission file number 001-38265**

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

**nVent Management Company Retirement Savings and Investment Plan**

**nVent Management Company**

**1665 Utica Avenue South, Suite 700**

**St. Louis Park, Minnesota 55416**

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

**nVent Electric plc**

**The Mille, 1000 Great West Road, 8th Floor (East)**

**London, TW8 9DW**

**United Kingdom**

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**NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN**

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | **Page** |
| <u>[REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#i57cbce4449fb46b8a57ec40621964c45_7)</u> | <u>[1](#i57cbce4449fb46b8a57ec40621964c45_7)</u> |
| <u>[FINANCIAL STATEMENTS:](#i57cbce4449fb46b8a57ec40621964c45_10)</u> | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Statements of Net Assets Available for Benefits](#i57cbce4449fb46b8a57ec40621964c45_13)</u> | <u>[2](#i57cbce4449fb46b8a57ec40621964c45_13)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Statement of Changes in Net Assets Available for Benefits](#i57cbce4449fb46b8a57ec40621964c45_16)</u> | <u>[3](#i57cbce4449fb46b8a57ec40621964c45_16)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Notes to Financial Statements](#i57cbce4449fb46b8a57ec40621964c45_19)</u> | <u>[4](#i57cbce4449fb46b8a57ec40621964c45_19)</u> |
| <u>[SUPPLEMENTAL SCHEDULE FURNISHED PURSUANT TO THE REQUIREMENTS OF FORM 5500 —](#i57cbce4449fb46b8a57ec40621964c45_46)</u> | <u>[10](#i57cbce4449fb46b8a57ec40621964c45_46)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year) as of December 31, 2024](#i57cbce4449fb46b8a57ec40621964c45_49)</u> | <u>[11](#i57cbce4449fb46b8a57ec40621964c45_49)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTE: All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable. | |

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**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Plan Participants and Plan Administrator of

nVent Management Company Retirement Savings and Investment Plan

**Opinion on the Financial Statements**

We have audited the accompanying statements of net assets available for benefits of nVent Management Company Retirement Savings and Investment Plan (the "Plan") as of December 31, 2024 and 2023, the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Emphasis of Matter**

As discussed in Note 1 to the financial statements, effective January 1, 2024, the ECM Industries, LLC 401(k) Plan and ILSCO 401(k) Plan were merged into the Plan. Also, effective December 31, 2024, the Trachte, LLC 401(k) Plan, the Parkline, Inc. Delaney Road Facility 401(k) Plan and the Parkline, Inc. 401(k) Plan were merged into the Plan. The assets and liabilities of the respective plans were merged into the Plan as of the respective merger dates. Our opinion is not modified with respect to this matter.

**Report on Supplemental Schedule** 

The supplemental schedule of assets (held at end of year) as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in compliance with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, such schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ DELOITTE & TOUCHE LLP

Minneapolis, Minnesota<br>June 24, 2025

We have served as the auditor of the Plan since 2020.

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**NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN**

**STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS**

**AS OF DECEMBER 31, 2024 and 2023**

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| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| ASSETS: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participant-directed investments — at fair value | $721636255 | $569004123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes receivable from participants | 7304058 | 5647450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee contributions | 7656 | 715123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer contributions | 5257 | 357909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total receivables | 7316971 | 6720482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 728953226 | 575724605 |
| NET ASSETS AVAILABLE FOR BENEFITS | $728953226 | $575724605 |

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*See accompanying notes to financial statements.*

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**NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN**

**STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS**

**FOR THE YEAR ENDED DECEMBER 31, 2024** 

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| | |
|:---|:---|
| CONTRIBUTIONS: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Employee | $30511138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Employer | 15379042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollover | 6486057 |
| &nbsp;&nbsp;Total contributions | 52376237 |
| INVESTMENT INCOME: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest and dividend income | 4879295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net appreciation in the fair value of investments | 100737505 |
| &nbsp;&nbsp;Total investment income | 105616800 |
| DEDUCTIONS: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions to participants | 85435975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative expenses | 143479 |
| &nbsp;&nbsp;Total deductions | 85579454 |
| CHANGE IN NET ASSETS BEFORE PLAN TRANSFERS | 72413583 |
| PLAN TRANSFERS (Note 1) | 80815038 |
| CHANGE IN NET ASSETS | 153228621 |
| NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year | 575724605 |
| NET ASSETS AVAILABLE FOR BENEFITS — End of year | $728953226 |

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*See accompanying notes to financial statements.*

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***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

**1. DESCRIPTION OF THE PLAN**

The following description of the nVent Management Company Retirement Savings and Investment Plan (the "Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan.

**General Information** — The Plan was established on January 1, 2019, was restated effective November 1, 2022 to incorporate all historical plan amendments and has been subsequently amended and restated effective December 31, 2024. The Plan is a defined contribution plan with a cash or deferred arrangement described in Internal Revenue Code ("IRC") Section 401(k). With certain exceptions, the Plan covers employees of U.S. subsidiaries of nVent Electric plc ("nVent" or the "Company") who have attained age 18, although such employees must have one year of service before becoming vested in employer matching contributions. nVent Management Company is a subsidiary of the Company, and is the Plan sponsor as well as Plan administrator. Fidelity Management Trust Company ("Fidelity") is recordkeeper and trustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended.

Effective January 1, 2024, the ECM Industries, LLC 401(k) Plan (the "ECM Plan") and ILSCO 401(k) Plan for Collectively Bargained Employees (the "ILSCO Plan") were merged into the Plan. Participants of the ECM Plan and the ILSCO Plan were 100% vested in their account balance. In 2024, the combined related participants and plan assets of $54,498,178 were transferred to the Plan and are reflected in the Statement of Changes in Net Assets Available for Benefits as Plan transfers. Effective January 1, 2024, ECM Industries, LLC and ILSCO LLC became participating employers in the Plan and their employees were eligible to participate in the Plan. Principal Trust Company was the trustee of the ECM Plan and ILSCO Plan for the period from January 1, 2024 through February 21, 2024.

Effective December 31, 2024, the Trachte, LLC 401(k) Plan (the "Trachte Plan"), the Parkline, Inc. Delaney Road Facility 401(k) Plan and the Parkline, Inc. 401(k) Plan (collectively the "Parkline Plans") were merged into the Plan with the participants 100% vested. In 2024, the combined related participants and plan assets of $26,316,860 were transferred to the Plan and are reflected in the Statement of Changes in Net Assets Available for Benefits as Plan transfers. Empower Trust Company LLC and Alerus Financial, N.A. were the trustees of the Trachte Plan and the Parkline Plans, respectively, as of and for the year ended December 31, 2024.

**Participation** — Participation for regular full-time employees may commence effective with the date of hire, provided that the employee is at least age 18. Participation for regular part-time employees may commence effective the first day of the month coinciding with or next following six months after the date of hire, provided that the employee is at least age 18. Participation for collectively bargained employees of ILSCO LLC and its affiliates may commence effective the first day of the month coinciding with or next following two months after date of hire, provided that the employee is at least age 18. Participant contributions are subject to a maximum of 50% of pre-tax compensation and 15% of after-tax compensation for a combined limit of 65% of compensation. Employee contributions are also subject to the IRC Section 402(g) limitation of $23,000 for 2024. Employees who will be age 50 or older are permitted to make additional catch up contributions to the Plan up to the IRC limitation of $7,500 for 2024.

The Plan has an automatic enrollment feature for new employees at a rate of 5% of eligible compensation with an automatic annual increase of 1% per year until the participant reaches a deferral rate of 10%. Employees can opt-out of automatic enrollment and automatic annual increase at any time. As of January 1, 2024, pursuant to the applicable collective bargaining agreement, the automatic enrollment feature does not apply to employees of ILSCO LLC who are covered by a collective bargaining agreement.

Employee contributions are matched at the rate of 100% of the first 5% of eligible compensation that is contributed to the Plan by a participant on a pre-tax basis. As of January 1, 2024, pursuant to the applicable collective bargaining agreement, employees of ILSCO LLC who are covered by a collective bargaining agreement are not eligible for matching contributions.

**Participant Accounts** — Individual accounts are maintained for each Plan participant. Each participant's account is credited with the participant's contributions, the Company's matching contributions and Plan earnings, and charged with withdrawals and allocations of Plan losses and administrative expenses. The benefit to which a participant is entitled under the Plan is the value of the participant's vested account.

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***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

**Investments** — Participants direct the investment of their account into various investment options offered by the Plan and may change investments and transfer amounts daily. The Plan currently offers various investment alternatives to Plan participants, consisting of corporate stock, mutual funds, common/collective trusts and stable value funds. Participants may also direct their investments through a trustee sponsored brokerage account, which offers the option to invest in a variety of individual stocks and mutual funds. Participants cannot allocate more than 25% of their contributions into the Company's ordinary shares. Investment management fees are charged against 401(k) trust earnings before such earnings are allocated to participant accounts.

**Notes receivable from participants** — Loans for any reason are allowed under the Plan. The interest rate charged is prime rate plus 1% at the time funds are borrowed. The maximum maturity of the loans is five years (15 years for loans to purchase a primary residence). The minimum loan amount is $1,000, and the maximum is the lesser of 50% of the vested account balance or $50,000. Due to transfers of notes receivable from participants related to plan transfers, certain loans outstanding as of December 31, 2024 and 2023 may bear interest at rates higher than the prime rate plus 1% and have an original maturity greater than 15 years. As of January 1, 2024, pursuant to the applicable collective bargaining agreement, an employee of ILSCO LLC who is covered by a collective bargaining agreement is not eligible to take a loan from his or her participant account.

**Vesting** — Participants are vested immediately in all elective deferral, after-tax, rollover, and discretionary contributions, plus actual earnings thereon. All matching contributions are 100% vested upon completion of one year of service.

**Administrative Expenses** — Administrative expenses of the Plan are paid in part by the Plan sponsor and the participants as provided in the Plan document.

The Plan has a revenue-sharing agreement whereby certain investment managers return a portion of the investment fees to the recordkeeper to offset the Plan's administrative expenses. Future Plan expenses can be paid from any excess remaining revenue sharing amounts. During 2024, there were no Plan administrative expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $136,564 and $52,832 at December 31, 2024 and 2023, respectively.

**Payment of Benefits** — Upon severance from service for any reason, a participant may elect to receive a lump-sum amount equal to the value of the participant's vested account balance. Some participants can also elect annual installments over a term-certain period.

**Hardship Withdrawals** — Hardship withdrawals are available for immediate and heavy financial need up to the amount of pre-tax contributions and earnings thereon. Hardship withdrawals can occur any time with a maximum of two per calendar year.

**Forfeitures** — When certain terminations of participation in the Plan occur, the nonvested portion of the participant's account, as defined by the Plan, represents a forfeiture. The plan document permits the use of forfeitures to either reduce future employer contributions or to pay plan administrative expenses for the plan year. As of December 31, 2024 and 2023, forfeited nonvested accounts totaled $20,108 and $34,587, respectively. During the year ended December 31, 2024, employer contributions were reduced by $455,352 as a result of the forfeited nonvested accounts.

**Subsequent Events** — Effective January 1, 2025, current employees of Trachte, LLC and Parkline, Inc. became covered by the Plan.

Effective January 1, 2025, the Plan was amended and restated to allow for Roth deposits and contributions, including Roth contributions made to a prior plan that have been transferred to this Plan.

Effective January 30, 2025 (the "Closing Date"), nVent completed the sale of its Thermal Management business, including nVent Thermal LLC ("Thermal"), to BCP VI Summit Holdings LP. Effective immediately following the Closing Date and pursuant to a transition services agreement ("TSA"), Thermal will be a participating employer in the Plan and Thermal employees will remain participants or be eligible to participate in the Plan. All accounts of Thermal employees will be transferred, in a trustee-to-trustee transfer, to a qualified defined contribution plan designed by the acquirer upon (or as soon as practicable after) the expiration of the TSA period.

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***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

**2. SIGNIFICANT ACCOUNTING POLICIES**

***Basis of accounting***

The financial statements of the Plan have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America ("GAAP").

***Use of estimates***

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

***Risks and uncertainties***

The Plan provides various investment options to its participants, including corporate stock, mutual funds, common/collective trusts and stable value funds. Participants may also direct their investments through a trustee sponsored brokerage account, which offers the option to invest in a variety of individual stocks and mutual funds, etc. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Market risks include global events which could impact the value of investment securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the value of the participants' account balances and the amounts reported in the financial statements.

***Concentration of investments***

At December 31, 2024 and 2023 the Plan's investment in the Fidelity Growth Company Commingled Pool was $157,592,045 and $121,200,347, respectively and represented 21.8% and 21.3%, respectively of the Plan's total investments at fair value.

***Investment valuation and income recognition***

The Plan's investments are stated at fair value. Accounting guidance related to fair value measurements, which establishes a single authoritative definition of fair value, sets a framework for measuring fair value, and requires additional disclosures about fair value measurements (see note 3). Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation and depreciation in the fair value of investments includes gains and losses in investments sold during the year as well as appreciation and depreciation of the investments held at year end.

***Notes receivable from participants***

Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.

***Contributions***

Contributions to the Plan from participants, and when applicable, from the Company are recorded in the period that payroll deductions are withheld from Plan participants.

***Excess Contributions Payable***

The Plan is required to return contributions received during the Plan year in excess of the IRC limits. There were no excess contributions due to participants as of December 31, 2024 and 2023.

***Payment of benefits***

Benefit payments to participants are recorded upon distribution. There were no participants, who elected to withdraw from the Plan, but had not yet been paid at December 31, 2024.

**3. FAIR VALUE MEASUREMENTS**

The Plan's estimates of fair value for financial assets are based on the framework established in the fair value accounting guidance. Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date in the Plan's principal or most advantageous market for the asset or liability. Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of unobservable inputs. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and gives the

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***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

lowest priority to unobservable inputs (Level 3 measurements). The three levels of inputs within the fair value hierarchy are defined as follows:

*Level 1*: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Plan has the ability to access.

*Level 2*: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

*Level 3*: Significant unobservable inputs that reflect the Plan's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

In some cases, a valuation technique used to measure fair value may include inputs from multiple levels of the fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

Certain investments are measured at fair value on a recurring basis in the statements of net assets available for benefits. The following methods and assumptions were used to estimate the fair values:

**Mutual funds, ordinary shares and other investments** — These investments are classified as Level 1 and consist of various publicly-traded money market funds, mutual funds, ordinary shares and other investments. Ordinary shares are valued at the closing price reporting on the active market on which the securities are traded on the last business day of the Plan year. Shares of registered investment companies, consisting of mutual funds, are valued at quoted market prices and are actively traded.

**Self-directed brokerage account** — Consists primarily of the following investments: (1) mutual funds, which are valued at quoted market prices and are actively traded; (2) a variety of ordinary shares, which are valued at the closing price reporting on the active market on which the securities are traded on the last business day of the Plan year; and (3) cash and cash equivalents, which approximate fair value due to their short term nature.

**Common/collective trusts** — These investments consist of various other collective investment trust funds. The underlying investments in these collective investment trust funds primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are valued at net asset value ("NAV"), which is based on the fair value of the underlying securities owned by the fund and divided by the number of shares outstanding. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. There are no unfunded commitments within these trusts, and participant-directed withdrawals may be made at any time without penalty, regardless of their frequency or amount.

**Stable value fund** — A collective trust fund that is composed primarily of fully benefit-responsive investment contracts that is valued at the NAV of units of the bank collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different from the reported NAV. Participant transactions (purchases and sales) may occur daily. If the Plan initiates a full redemption of the collective trust, the issuer reserves the right to require 12 months' notification in order to confirm that securities liquidations will be carried out in an orderly business manner.

In accordance with GAAP, investments measured at NAV as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the following tables are intended to permit reconciliation to the amount presented in the statements of net assets available for benefits.

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***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

The fair values of the Plan's investments measured at fair value on a recurring basis and their respective level within the fair value hierarchy was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Quoted Prices<br>in Active<br>Markets for<br>Identical Assets<br>(Level 1)** | **Significant<br>Other<br>Observable<br>Inputs<br>(Level 2)** | **Significant<br>Unobservable<br>Inputs<br>(Level 3)** | **Total** |
| nVent Electric plc ordinary shares | $25843927 | $— | $— | $25843927 |
| Interest-bearing cash | 6857330 |  |  | 6857330 |
| Mutual funds | 89267540 |  |  | 89267540 |
| Self-directed brokerage accounts | 12226496 |  |  | 12226496 |
| Net investments in fair value hierarchy | 134195293 |  |  | 134195293 |
| Investments valued at NAV- &nbsp;&nbsp;&nbsp;&nbsp;common/collective trusts |  |  |  | 559302092 |
| Investments valued at NAV- stable value fund |  |  |  | 28138870 |
| Total investments at fair value | $134195293 | $— | $— | $721636255 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2023** | **December 31, 2023** | **December 31, 2023** | **December 31, 2023** |
| | **Quoted Prices<br>in Active<br>Markets for<br>Identical Assets<br>(Level 1)** | **Significant<br>Other<br>Observable<br>Inputs<br>(Level 2)** | **Significant<br>Unobservable<br>Inputs<br>(Level 3)** | **Total** |
| nVent Electric plc ordinary shares | $23730765 | $— | $— | $23730765 |
| Interest-bearing cash | 7441519 |  |  | 7441519 |
| Mutual funds | 61540115 |  |  | 61540115 |
| Self-directed brokerage accounts | 6744517 |  |  | 6744517 |
| Net investments in fair value hierarchy | 99456916 |  |  | 99456916 |
| Investments valued at NAV- &nbsp;&nbsp;&nbsp;&nbsp;common/collective trusts |  |  |  | 436163741 |
| Investments valued at NAV- stable value fund |  |  |  | 33383466 |
| Total investments at fair value | $99456916 | $— | $— | $569004123 |

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**4. FEDERAL INCOME TAX STATUS**

The Internal Revenue Service ("IRS") has determined and informed the Company by a letter dated April 24, 2024, that the Plan and related trust were designed in accordance with the applicable regulations of the IRC. In 2024, it was identified that certain operational issues occurred in the Plan. In order to prevent the Plan from incurring a qualification defect, the Plan's sponsor has taken the necessary corrective steps in accordance with the acceptable correction methods of the Employee Plans Compliance Resolution System ("EPCRS"). The Plan sponsor believes the Plan has maintained its tax-exempt status. Therefore, no provision for income taxes has been included in the Plan's financial statements.

**5. EXEMPT PARTY-IN-INTEREST TRANSACTIONS**

Certain Plan investments are stable value funds and shares of mutual funds managed by Fidelity. Fidelity is the trustee and recordkeeper as defined by the Plan. These transactions qualify as exempt party-in-interest transactions. Fees paid by the Plan for investment management services were included as a reduction of the return earned on each fund. Administrative revenues arise when investment managers return a portion of the investment fees to Fidelity to offset the administrative expenses. Any excess resulting from this revenue sharing remains in an unallocated account from which future Plan expenses can be paid. During 2024, there were no Plan administrative expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $136,564 and $52,832 at December 31, 2024 and 2023, respectively.

At December 31, 2024 and 2023, the Plan held 379,117 and 401,557 ordinary shares of nVent, the parent of the sponsoring employer, with a cost basis of $6,380,017 and $6,076,340, respectively. During the year ended December 31, 2024, purchases of shares by the Plan totaled $5,007,522 and sales of shares by the Plan totaled $2,894,884, respectively. During the year ended December 31, 2024, the Plan recorded dividend income of $251,260 with respect to the ordinary shares of nVent.

------

***Notes to financial statements***

***As of December 31, 2024 and 2023 and for the year ended December 31, 2024***

Participant loans also qualify as party-in-interest transactions and amounted to $7,304,058 and $5,647,450 at December 31, 2024 and 2023, respectively.

**6. PLAN TERMINATION**

Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, participants would become 100% vested in their accounts.

**7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500**

As of December 31, 2024 and 2023, reconciliation of net assets available for benefits per the financial statements to the Form 5500 was as follows:

---

| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Net assets available for benefits per the financial statements | $728953226 | $575724605 |
| Less: Cumulative deemed distributions of participant loans | (347005) | (338190) |
| Net assets available for benefits per Form 5500 | $728606221 | $575386415 |

---

As of December 31, 2024 and 2023, reconciliation of notes receivable from participants per the financial statements to the Form 5500 was as follows:

---

| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Notes receivable from participants per the financial statements | $7304058 | $5647450 |
| Less: Cumulative deemed distributions of participant loans | (347005) | (338190) |
| Notes receivable from participants per Form 5500 | $6957053 | $5309260 |

---

For the year ended December 31, 2024, reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 was as follows:

---

| | |
|:---|:---|
| | **2024** |
| Change in net assets available for benefits per the financial statements | $72413583 |
| Less: Change in cumulative deemed distributions of participant loans | (8815) |
| Change in net assets available for benefits per Form 5500 | $72404768 |

---

For the year ended December 31, 2024, reconciliation of net investment income per the financial statements to the Form 5500 was as follows:

---

| | |
|:---|:---|
| | **2024** |
| Net investment income per the financial statements | $105616800 |
| Less: Interest on deemed distributions of participant loans | (25226) |
| Net investment income per Form 5500 | $105591574 |

---

For the year ended December 31, 2024, reconciliation of distributions to participants per the financial statements to the Form 5500 was as follows:

---

| | |
|:---|:---|
| | **2024** |
| Distributions to participants per the financial statements | $85435975 |
| Less: Deemed distributions of participant loans | (16411) |
| Distributions to participants per Form 5500 | $85419564 |

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\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*

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**SUPPLEMENTAL SCHEDULE FURNISHED PURSUANT TO THE**

**REQUIREMENTS OF FORM 5500**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INCENTIVE PLAN** | **NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INCENTIVE PLAN** | **NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INCENTIVE PLAN** | **(EIN: 82-3123161)** | **(EIN: 82-3123161)** |
| | | | **(Plan #001)** | **(Plan #001)** |
| **FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)**<br>**AS OF DECEMBER 31, 2024** | **FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)**<br>**AS OF DECEMBER 31, 2024** | **FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)**<br>**AS OF DECEMBER 31, 2024** | **FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)**<br>**AS OF DECEMBER 31, 2024** | **FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)**<br>**AS OF DECEMBER 31, 2024** |
| **Identity of issuer, borrower, lessor or similar party** | **Description of investment, including maturity date, rate of interest, collateral, par or maturity value** | **Description** | **Cost** | **Current value** |
| Vanguard Fiduciary Trust | Target Retirement Income Trust II | Common/collective trust | \* | $5508059 |
| Vanguard Fiduciary Trust | Target Retirement 2020 Fund Trust II | Common/collective trust | \* | 14840744 |
| Vanguard Fiduciary Trust | Target Retirement 2025 Fund Trust II | Common/collective trust | \* | 39750654 |
| Vanguard Fiduciary Trust | Target Retirement 2030 Fund Trust II | Common/collective trust | \* | 68123065 |
| Vanguard Fiduciary Trust | Target Retirement 2035 Fund Trust II | Common/collective trust | \* | 49357695 |
| Vanguard Fiduciary Trust | Target Retirement 2040 Fund Trust II | Common/collective trust | \* | 34025775 |
| Vanguard Fiduciary Trust | Target Retirement 2045 Fund Trust II | Common/collective trust | \* | 38637168 |
| Vanguard Fiduciary Trust | Target Retirement 2050 Fund Trust II | Common/collective trust | \* | 37316990 |
| Vanguard Fiduciary Trust | Target Retirement 2055 Fund Trust II | Common/collective trust | \* | 22618854 |
| Vanguard Fiduciary Trust | Target Retirement 2060 Fund Trust II | Common/collective trust | \* | 11654542 |
| Vanguard Fiduciary Trust | Target Retirement 2065 Fund Trust II | Common/collective trust | \* | 3466896 |
| Vanguard Fiduciary Trust | Target Retirement 2070 Fund Trust II | Common/collective trust | \* | 391431 |
| Fidelity Management Trust Company<sup>(1)</sup> | Growth Company Commingled Pool A | Common/collective trust | \* | 157592045 |
| Reliance Trust Company | Legal & General Russell 3000 Fund | Common/collective trust | \* | 51492726 |
| Reliance Trust Company | Legal & General MSCI EAFE Fund | Common/collective trust | \* | 2472373 |
| BlackRock Institutional Trust Co NA | Total Return Bond Fund L | Common/collective trust | \* | 6842746 |
| Great Gray | Core Plus Bond Fund II Fee Class R1 | Common/collective trust | \* | 5539 |
| Great Gray | Emerging Markets Fund Class R1 | Common/collective trust | \* | 7890 |
| Great Gray | Large Cap Growth Fund II Fee Class R1 | Common/collective trust | \* | 211793 |
| Great Gray | Large Cap Value Fund Class R1 | Common/collective trust | \* | 185639 |
| Great Gray | Mid Cap Value Fee Class R1 | Common/collective trust | \* | 19034 |
| Great Gray | Small Cap Value Fund II Fee Class R1 | Common/collective trust | \* | 111342 |
| Federated Hermes | Capital Preservation Fund | Common/collective trust | \* | 209439 |
| Loomis Sayles Trust Company, LLC | Small Cap Growth Fund Class C | Common/collective trust | \* | 14459653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total common/collective trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total common/collective trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total common/collective trusts |  | 559302092 |
| Oakmark | Fund Investor Class | Registered investment company | \* | 35187333 |
| Dodge & Cox | International Stock Fund | Registered investment company | \* | 8742315 |
| Fidelity Investments Institutional Operations Company, LLC<sup>(1)</sup> | US Bond Index Fund | Registered investment company | \* | 4062200 |
| Victory Capital | Integrity Small Cap Value Fund Class R6 | Registered investment company | \* | 9076678 |
| American Funds | New Perspective Class R6 | Registered investment company | \* | 216153 |
| American Funds | American Balanced Fund® Class R6 | Registered investment company | \* | 95253 |
| American Funds | Fundamental Investors® Class R6 | Registered investment company | \* | 21967 |
| American Funds | EuroPacific Growth Fund Class R6 | Registered investment company | \* | 4881 |
| Blackrock | Lifepath Index 2030 Class K | Registered investment company | \* | 1827362 |
| Blackrock | Lifepath Index 2035 Class K | Registered investment company | \* | 2989282 |
| Blackrock | Lifepath Index 2040 Class K | Registered investment company | \* | 2040148 |
| Blackrock | Lifepath Index 2045 Class K | Registered investment company | \* | 2562987 |
| Blackrock | Lifepath Index 2050 Class K | Registered investment company | \* | 1444115 |
| Blackrock | Lifepath Index 2055 Class K | Registered investment company | \* | 1876561 |
| Blackrock | Lifepath Index 2060 Class K | Registered investment company | \* | 1024032 |
| Blackrock | Lifepath Index 2065 Class K | Registered investment company | \* | 364451 |
| Blackrock | Lifepath Index Retirement Class K | Registered investment company | \* | 1101391 |
| Carillon Eagle | Mid Cap Growth Class R6 | Registered investment company | \* | 4253 |
| Cohen & Steers | Real Estate Securities Class Z | Registered investment company | \* | 23052 |
| Fidelity Investments<sup>(1)</sup> | 500 Index | Registered investment company | \* | 585704 |
| Fidelity Investments<sup>(1)</sup> | Mid Cap Index | Registered investment company | \* | 163858 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Fidelity Investments<sup>(1)</sup> | Small Cap Index | Registered investment company | \* | 160525 |
| Fidelity Investments<sup>(1)</sup> | Contrafund® | Registered investment company | \* | 366879 |
| Guggenheim | Total Return Bond Class R6 | Registered investment company | \* | 43518 |
| The Goldman Sachs Group, Inc. | Bond Institutional Fund | Registered investment company | \* | 14248 |
| Hartford Schroders | Intl Multi-Cap Value SDR | Registered investment company | \* | 147719 |
| Janus Henderson Investors | Multi-Sector Income Class N | Registered investment company | \* | 11380 |
| Janus Henderson Investors | Triton Fund Class N | Registered investment company | \* | 88264 |
| JPMorgan Investment Management Inc. | Small Cap Growth Class R6 | Registered investment company | \* | 40229 |
| JPMorgan Investment Management Inc. | Mid Cap Growth Fund Class R6 | Registered investment company | \* | 217590 |
| Massachusetts Financial Services Co | Intl Diversification Class R6 | Registered investment company | \* | 181571 |
| Pacific Investment Management Company LLC | Income Fund Institutional Class | Registered investment company | \* | 21053 |
| Pacific Investment Management Company LLC | All Asset International Fund | Registered investment company | \* | 18468 |
| T. Rowe Price Investment Services Inc. | Equity Income Fund Investor Class | Registered investment company | \* | 23446 |
| T. Rowe Price Investment Services Inc. | Spectrum Mod Growth Alloc | Registered investment company | \* | 105566 |
| The Vanguard Group, Inc. | 500 Index Fund Admiral Shares | Registered investment company | \* | 519556 |
| The Vanguard Group, Inc. | Inflation-Protected Securities Fund Admiral Shares | Registered investment company | \* | 1450 |
| The Vanguard Group, Inc. | LifeStrategy Income Fund | Registered investment company | \* | 24842 |
| The Vanguard Group, Inc. | LifeStrategy Growth Fund | Registered investment company | \* | 29196 |
| The Vanguard Group, Inc. | LifeStrategy Moderate Growth Fund | Registered investment company | \* | 145311 |
| The Vanguard Group, Inc. | Mid-Cap Index Fund Admiral Shares | Registered investment company | \* | 281277 |
| The Vanguard Group, Inc. | Real Estate Index Fund Admiral Shares | Registered investment company | \* | 96554 |
| The Vanguard Group, Inc. | Small Cap Index Fund Admiral Shares | Registered investment company | \* | 191178 |
| The Vanguard Group, Inc. | Target Retirement Income Fund | Registered investment company | \* | 8637 |
| The Vanguard Group, Inc. | Target Retirement Income 2020 Fund | Registered investment company | \* | 39957 |
| The Vanguard Group, Inc. | Target Retirement Income 2025 Fund | Registered investment company | \* | 87677 |
| The Vanguard Group, Inc. | Target Retirement Income 2030 Fund | Registered investment company | \* | 1000597 |
| The Vanguard Group, Inc. | Target Retirement Income 2035 Fund | Registered investment company | \* | 1469267 |
| The Vanguard Group, Inc. | Target Retirement Income 2040 Fund | Registered investment company | \* | 1179941 |
| The Vanguard Group, Inc. | Target Retirement Income 2045 Fund | Registered investment company | \* | 1044136 |
| The Vanguard Group, Inc. | Target Retirement Income 2050 Fund | Registered investment company | \* | 425685 |
| The Vanguard Group, Inc. | Target Retirement Income 2055 Fund | Registered investment company | \* | 744084 |
| The Vanguard Group, Inc. | Target Retirement Income 2060 Fund | Registered investment company | \* | 125274 |
| The Vanguard Group, Inc. | Target Retirement Income 2065 Fund | Registered investment company | \* | 8960 |
| The Vanguard Group, Inc. | Total International Stock Index Fund Admiral Shares | Registered investment company | \* | 14167 |
| The Vanguard Group, Inc. | International Growth Fund Admiral Shares | Registered investment company | \* | 6975362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total registered investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total registered investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total registered investment companies |  | 89267540 |
| Putnam Investments | Stable Value Fund | Stable value fund | \* | 120756 |
| Fidelity Management Trust Company<sup>(1)</sup> | Managed Income Portfolio II, Class 1 | Stable value fund | \* | 28018114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stable value funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stable value funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stable value funds |  | 28138870 |
| Vanguard | Federal Money Market | Interest-bearing cash | \* | 6857330 |
| nVent Electric plc<sup>(1)</sup> | Ordinary shares | Common stock | \* | 25843927 |
| Fidelity Brokerage Link<sup>(1)</sup> | Various investments including common stocks, mutual funds, and money market funds | Self-directed brokerage account | \* | 12226496 |
| NOTES RECEIVABLE FROM PARTICIPANTS, NET OF $347,005 IN DEEMED DISTRIBUTIONS <sup>(1)</sup> | Interest rates range from 3.25% to 9.50%. Maturity dates range from 2025 to 2040 | Participant loan funds | \* | 6957053 |
| TOTAL | TOTAL | TOTAL |  | $728593308 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)Party-in-interest.

\*&nbsp;&nbsp;&nbsp;&nbsp;Cost information is not required for participant-directed investments and, therefore, is not included.

------

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| <u>[23.1](fy202411-knventrsipex231co.htm)</u> | Consent of Independent Registered Public Accounting Firm |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, nVent Management Company, who administers the nVent Management Company Retirement Savings and Investment Plan has duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized, on June 24, 2025.

---

| | |
|:---|:---|
| nVent Management Company Retirement Savings and Investment Plan | nVent Management Company Retirement Savings and Investment Plan |
| By nVent Management Company | By nVent Management Company |
| By | /s/ Randolph A. Wacker |
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Randolph A. Wacker |
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Treasurer |

---

## Exhibit 23.1

**EXHIBIT 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in Registration Statement No. 333-224555 on Form S-8 of our report dated June 24, 2025, relating to the financial statements of nVent Management Company Retirement Savings and Investment Plan appearing in this Annual Report on Form 11-K for the year ended December 31, 2024.

/s/ DELOITTE & TOUCHE LLP

Minneapolis, Minnesota

June 24, 2025

<br>