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

June 29, 2019

June 30, 2018

Pre-Tax

Tax

Net

Pre-Tax

Tax

Net

Net income

$

16,190

$

2,605

$

13,585

$

10,045

$

1,066

$

8,979

Restructuring expenses ¹

—

—

—

735

186

549

Acquisition-related expenses ²

98

21

77

—

—

—

Acquisition inventory fair value adjustment ¹

157

24

133

—

—

—

Adjusted net income ³

$

16,445

$

2,650

$

13,795

$

10,780

$

1,252

$

9,528

Weighted average diluted common shares outstanding

19,520

19,305

Diluted earnings per share

$

0.84

$

0.14

$

0.70

$

0.52

$

0.05

$

0.47

Impact of restructuring expenses

—

—

—

0.04

0.02

0.02

Impact of acquisition-related expenses

—

—

—

—

—

—

Impact of acquisition inventory fair value adjustment

0.01

—

0.01

—

—

—

Adjusted diluted earnings per share ³

$

0.85

$

0.14

$

0.71

$

0.56

$

0.07

$

0.49

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.

³

Denotes non-GAAP financial measure.