Exhibit B

MTS SYSTEMS CORPORATION

Reconciliation of Earnings Per Share Excluding Restructuring, Acquisition-Related

and Acquisition Inventory Fair Value Adjustment Expenses

(unaudited - in thousands, except per share data)

Three Months Ended

March 30, 2019

March 31, 2018

Pre-Tax

Tax

Net

Pre-Tax

Tax

Net

Net income

$

17,076

$

2,916

$

14,160

$

10,176

$

1,738

$

8,438

Restructuring expenses ¹

—

—

—

362

92

270

Acquisition-related expenses ²

262

55

207

—

—

—

Acquisition inventory fair value adjustment ¹

539

81

458

—

—

—

Adjusted net income ³

$

17,877

$

3,052

$

14,825

$

10,538

$

1,830

$

8,708

Weighted average diluted common shares outstanding

19,441

19,273

Diluted earnings per share

$

0.88

$

0.15

$

0.73

$

0.53

$

0.09

$

0.44

Impact of restructuring expenses

—

—

—

0.02

0.01

0.01

Impact of acquisition-related expenses

0.01

—

0.01

—

—

—

Impact of acquisition inventory fair value adjustment

0.03

0.01

0.02

—

—

—

Adjusted diluted earnings per share ³

$

0.92

$

0.16

$

0.76

$

0.55

$

0.10

$

0.45

¹  In determining the tax impact of restructuring expenses and acquisition inventory fair value adjustment, we applied the statutory rate in effect for each jurisdiction where the expenses were incurred.

²   In determining the tax impact of acquisition-related expenses, we applied a U.S. effective income tax rate before discrete items to these expenses.

³   Denotes non-GAAP financial measure.