Exhibit C

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)

Nine Months Ended

June 29, 2019

June 30, 2018

Pre-Tax

Tax

Net

Pre-Tax

Tax

Net

Net income

$

44,463

$

6,217

$

38,246

$

29,691

$

(20,877)

$

50,568

Restructuring expenses ¹

130

33

97

1,343

340

1,003

Acquisition-related expenses ²

1,133

238

895

—

—

—

Acquisition inventory fair value adjustment ¹

1,141

172

969

—

—

—

Adjusted net income ³

$

46,867

$

6,660

$

40,207

$

31,034

$

(20,537)

$

51,571

Weighted average diluted common shares outstanding

19,436

19,269

Diluted earnings per share

$

2.29

$

0.32

$

1.97

$

1.54

$

(1.08)

$

2.62

Impact of restructuring expenses

—

—

—

0.07

0.01

0.06

Impact of acquisition-related expenses

0.06

0.01

0.05

—

—

—

Impact of acquisition inventory fair value adjustment

0.06

0.01

0.05

—

—

—

Adjusted diluted earnings per share ³

$

2.41

$

0.34

$

2.07

$

1.61

$

(1.07)

$

2.68

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.