Matthews International Corporation · NASDAQ:MATW

Matthews International — Q2 2023 Earnings Presentation

45 slides from Matthews International's earnings presentation, May 16, 2023

1. Slide 1: Investor Presentation Second Quarter Fiscal Year 2023

   INVESTOR PRESENTATION SECOND QUARTER FISCAL YEAR 2023 www.matw.com | Nasdaq: MATW

2. Slide 2: Disclaimer

   © 2023 Matthews International Corporation. All Rights Reserved. 2 DISCLAIMER Any forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and

3. Slide 3: © 2023 Matthews International Corporation. All Rights Reserved. 3

   © 2023 Matthews International Corporation. All Rights Reserved. 3

4. Slide 4: Matthews Evolution

   © 2023 Matthews International Corporation. All Rights Reserved. 4 MATTHEWS EVOLUTION

5. Slide 5: Matthews at a Glance

   © 2023 Matthews International Corporation. All Rights Reserved. 5 MATTHEWS AT A GLANCE - $1.76B FY2022 REVENUE 33% 48% 19% Europe 25% Asia & Pacific 5% Americas 70% TOTAL SALES BY SEGMENT TOTAL SALES BY REGION

6. Slide 6: Engineered Solutions: Product Identification, Warehouse Automation

   © 2023 Matthews International Corporation. All Rights Reserved.© 2023 Matthews International Corporation. All Rights Reserved. ENGINEERED SOLUTIONS PRODUCT IDENTIFICATION WAREHOUSE AUTOMATION

7. Slide 7: Industrial Technologies Products and Markets

   © 2023 Matthews International Corporation. All Rights Reserved. 7 INDUSTRIAL TECHNOLOGIES PRODUCTS AND MARKETS PRINCIPAL PRODUCT LINES COMPETITIVE ADVANTAGES

8. Slide 8: Energy Storage Solutions

   © 2023 Matthews International Corporation. All Rights Reserved. 8 ENERGY STORAGE SOLUTIONS • Matthews Saueressig subsidiary has been working to apply advanced calendering patented IP and knowledge to the manufacturing of lithium-ion and embossing plates used in fuel cells • Orders over $200M in fisc

9. Slide 9: Position Strengthened with Inflation Reduction Act

   © 2023 Matthews International Corporation. All Rights Reserved. 9 POSITION STRENGTHENED WITH INFLATION REDUCTION ACT • Projections on incremental Gigawatt hour (GWh) installed for U.S. by 2030 was over 600 GWh prior to the Inflation Reduction Act • Expect this number to be significantly higher based

10. Slide 10: Energy Opportunities Reach Beyond EV

    © 2023 Matthews International Corporation. All Rights Reserved. 10 ENERGY OPPORTUNITIES REACH BEYOND EV Source: Business Strategic Plan (Management Estimate)

11. Slide 11: Warehouse Automation

    © 2023 Matthews International Corporation. All Rights Reserved. 11 WAREHOUSE AUTOMATION • Warehouse Automation systems complement the tracking and distribution of a customer's products with automated order fulfillment technologies and controls for material handling systems • Material handling custom

12. Slide 12: Warehouse Automation Expansion Potential

    © 2023 Matthews International Corporation. All Rights Reserved. 12 WAREHOUSE AUTOMATION EXPANSION POTENTIAL • Expand configurability and web interface for information everywhere • Continued growth in e-commerce solutions • Warehouse automation market continues to grow in demand from both greenfield

13. Slide 13: Product Identification

    © 2023 Matthews International Corporation. All Rights Reserved. 13 PRODUCT IDENTIFICATION • Product identification dates back to Matthews’ original branding irons and hand stamps from the 1850s • Matthews identified a significant market opportunity to displace incumbent continuous inkjet (CIJ) techn

14. Slide 14: New Printhead Technology Drives Additional Demand

    © 2023 Matthews International Corporation. All Rights Reserved. 14 NEW PRINTHEAD TECHNOLOGY DRIVES ADDITIONAL DEMAND • Technology miniaturizes valves the same way a transistor miniaturized switches • Business development evaluating additional opportunities in adjacent markets • Reduces VOC emissions

15. Slide 15: Cemetery, Funeral Home, Cremation Products

    © 2023 Matthews International Corporation. All Rights Reserved.© 2022 Matthews International Corporation. All Rights Reserved. CEMETERY PRODUCTS FUNERAL HOME PRODUCTS CREMATION PRODUCTS AND EQUIPMENT 3 tt s I t r ti l r r ti . ll i ts s rv .

16. Slide 16: Market Leadership

    © 2023 Matthews International Corporation. All Rights Reserved. Cemetery Products Bronze Memorials - #1 Granite Memorials - #1 North America, Italy, Australia 16 Funeral Home Products Caskets - #2 United States Cremation and Incineration Equipment Cremation Equipment - #1 United States and Europe Ma

17. Slide 17: Leading Market Position

    © 2023 Matthews International Corporation. All Rights Reserved. LEADING MARKET POSITION 17 MEMORIALIZATION MARKET POSITION * Company estimates based on industry reports for fiscal year 2022 MARKET POSITIONS (U.S.) Bronze Memorials Granite Memorials Caskets Cremation Equipment COMPETITIVE ADVANTAGE

18. Slide 18: Stability in Memorialization with Growth Potential

    © 2023 Matthews International Corporation. All Rights Reserved. 18 Note: All financial figures reflect fiscal years ended September 30th. 1 Internal estimates based upon data compiled from CDC, US Census Bureau and Industry reports; 2 Includes incineration products CASKETED VS. NON-CASKETED DEATHS 1

19. Slide 19: Strategic Growth Opportunities

    © 2023 Matthews International Corporation. All Rights Reserved. 19 STABILITY IN MEMORIALIZATION WITH GROWTH POTENTIAL STRATEGIC GROWTH OPPORTUNITIES • Cremation products • Online solutions • Technology services – software as a service • Complimentary new products to funeral homes / cemeteries • 3D p

20. Slide 20: SGK Brand Solutions

    © 2023 Matthews International Corporation. All Rights Reserved.© 2023 Matthews International Corporation. All Rights Reserved.

21. Slide 21: Core Packaging Services

    © 2023 Matthews International Corporation. All Rights Reserved. 21 CORE PACKAGING SERVICES CORE PACKAGING SERVICES SGK’s packaging solutions can be purchased as an integrated, end to end solution or as stand-alone services.

22. Slide 22: Brand Experience Solutions

    © 2023 Matthews International Corporation. All Rights Reserved. 22 CORE PACKAGING SERVICES BRAND EXPERIENCE SOLUTIONS Tailored solutions for brand commerce and brand activation that deliver more connected and enriching experiences between brand and consumer

23. Slide 23: SGK Brand Solutions

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS FOOD/BEVERAGE CLIENTS GLOBAL PHARMA / HEALTHCARE CLIENTS GLOBAL RETAILER CLIENTS OTHER LEADING BRANDS 23 • Longstanding relationships with a large, blue chip customer base consisting of many Fortune 100 and Fortune 5

24. Slide 24: SGK's Strategic Initiatives Extend Revenue Opportunity

    © 2023 Matthews International Corporation. All Rights Reserved. SGK's STRATEGIC INITIATIVES 24 EXTEND REVENUE OPPORTUNITY WITHIN THE CORE PACKAGING BUSINESS • Improving focus and messaging in the marketplace • Redesigning, rebranding and bundling products and services • Continued focus on ESG throug

25. Slide 25: SGK Technology Continues to Drive Growth

    © 2023 Matthews International Corporation. All Rights Reserved. SGK TECHNOLOGY CONTINUES TO DRIVE GROWTH 25

26. Slide 26: Investment Thesis

    © 2023 Matthews International Corporation. All Rights Reserved. 26 INVESTMENT THESIS

27. Slide 27: Key Highlights

    © 2023 Matthews International Corporation. All Rights Reserved. 27 GROWTH OPPORTUNITIES SUPPORTED BY STABLE CORE BUSINESSES DISCIPLINED TRACK RECORD OF ACQUISITIONS AND INTEGRATION ROBUST CASH FLOW HISTORY FAVORABLE COMPETITIVE POSITIONS IN ATTRACTIVE ADDRESSABLE MARKETS STRONG AND EXPERIENCED MANAG

28. Slide 28: Attractive Markets and Growth Opportunities

    © 2023 Matthews International Corporation. All Rights Reserved. B CA Attractive markets and growth opportunities • Stable demand driven by increased deaths as a result of population growth • Strong presence and growing revenue in cremation products and equipment • Investment in innovations to drive

29. Slide 29: Stable Core Businesses Support Growth Opportunities

    © 2023 Matthews International Corporation. All Rights Reserved. 29 STABLE CORE BUSINESSES SUPPORT GROWTH OPPORTUNITIES STABLE CORE BUSINESSES GROWTH OPPORTUNITIES • Industrial Technologies • Core product line in product identification equipment and consumables • Memorialization – Demographic (death

30. Slide 30: Disciplined Track Record of Acquisitions and Integration

    © 2023 Matthews International Corporation. All Rights Reserved. 30 3 DISCIPLINED TRACK RECORD OF ACQUISITIONS AND INTEGRATION • Identify and integrate complementary businesses with an insistence on prudent capital deployment • Focus on complementary geographies, vertical integration or additional te

31. Slide 31: Robust Cash Flow History

    © 2023 Matthews International Corporation. All Rights Reserved. 31 Note: All figures reflect fiscal years ended September 30th; Historical FY1994 – FY2019 reflect amounts as reported in the Company's 10-K filings for those fiscal years. See Disclaimer (Page 2) for Management’s assessment of suppleme

32. Slide 32: Strong and Experienced Management Team

    © 2023 Matthews International Corporation. All Rights Reserved. 32 5 STRONG AND EXPERIENCED MANAGEMENT TEAM Joseph Bartolacci Chief Executive Officer and President Greg Babe Chief Technology Officer Lee Lane Group President of Industrial Automation and Environmental Solutions Steven Gackenbach Group

33. Slide 33: Financial Overview

    © 2023 Matthews International Corporation. All Rights Reserved. 33 FINANCIAL OVERVIEW

34. Slide 34: Debt Reduction and Growth

    © 2023 Matthews International Corporation. All Rights Reserved. 34 DEBT REDUCTION • Historically maintained a modest leverage profile • Publicly stated Net Debt Leverage Ratio (1) target of 3.0x or less • Continued emphasis on leverage, balanced growth and share repurchase • Settled the principal U.

35. Slide 35: Sales and Adjusted EBITDA by Segment

    © 2023 Matthews International Corporation. All Rights Reserved. 35 (Dollars in thousands) Fiscal Year Ended September 30, Year to Date March 31, 2020 2021 2022 2022 2023 Sales: Memorialization $ 656,035 $ 769,016 $ 840,124 $ 430,710 $ 429,391 Industrial Technologies 228,453 284,495 335,523 152,485 2

36. Slide 36: ESG Overview

    © 2023 Matthews International Corporation. All Rights Reserved. 36 ESG OVERVIEW

37. Slide 37: Business Solutions to Drive Efficiency and Environmental Performance

    © 2023 Matthews International Corporation. All Rights Reserved. 37 BUSINESS SOLUTIONS TO DRIVE EFFICIENCY AND ENVIRONMENTAL PERFORMANCE • Provider of Energy storage solutions including battery production technology for electric vehicles • Waste-to-Energy solutions with projects in UK and Europe • Cr

38. Slide 38: Appendix

    © 2023 Matthews International Corporation. All Rights Reserved. 38 APPENDIX

39. Slide 39: Total Adjusted EBITDA Non-GAAP Reconciliation

    © 2023 Matthews International Corporation. All Rights Reserved. TOTAL ADJUSTED EBITDA NON-GAAP RECONCILIATION (Unaudited) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted EBITDA. 39 (In thousands, except per share data) Fiscal Year Ended September

40. Slide 40: Adjusted Net Income and EPS Non-GAAP Reconciliation

    © 2023 Matthews International Corporation. All Rights Reserved. ADJUSTED NET INCOME AND EARNINGS PER SHARE NON-GAAP RECONCILIATION (Unaudited) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted net income and adjusted EPS. 40 (In thousands, except p

41. Slide 41: Constant Currency Sales and Adjusted EBITDA Reconciliation

    © 2023 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to constant currency sales and adjusted EBITDA. 41 CONSTANT CURRENCY SALES AND ADJUSTED EBITDA NON-GAAP RECONCILIATION (Unaudited) (In thousands)

42. Slide 42: Net Debt and Net Debt Leverage Ratio

    © 2023 Matthews International Corporation. All Rights Reserved. 42 (Dollars in thousands) Fiscal Year Ended September 30, March 31, (unaudited) 2020 2021 2022 2023 Long-term debt, current maturities $ 26,824 $ 4,624 $ 3,277 $ 2,825 Long-term debt 807,710 759,086 795,291 775,202 Total debt 834,534 76

43. Slide 43: Free Cash Flow

    © 2023 Matthews International Corporation. All Rights Reserved. 43 (Dollars in thousands) Fiscal Year Ended September 30, Six Months Ended March 31, 20232020 2021 2022 Cash Provided from Operating Activities $ 180,447 $ 162,811 $ 126,860 $ 44,711 Less: Capital Expenditures (34,849) (34,313) (61,321)

44. Slide 44: Institutional Shareholders

    © 2023 Matthews International Corporation. All Rights Reserved. 44 Shares March 31, 2023 BlackRock, Inc. 4,918,194 The Vanguard Group, Inc. 3,590,213 Phoenix Holdings Ltd. 1,796,225 Dimensional Fund Advisors, L.P. 1,441,607 State Street Corporation 1,141,929 Gamco Investors, Inc. et al 1,093,191 Ame

45. Slide 45: oration. All Rights Reserved.

    © 2022 Matthews International Corporation. All Rights Reserved.

Matthews International — Q2 2023 Earnings Presentation on 6ix