Suncrete, Inc. · NASDAQ:RMIX
Suncrete — SPAC Merger (January 2026)
36 slides from Suncrete's SPAC merger presentation, Jan 14, 2026
Slide 1: Suncrete: A Pure-Play Ready-Mix Concrete Platform
Yr, Suncrete A Pure-Play Ready-Mix Concrete Platform Supplying the High Growth U.S. Sunbelt ‘Analyst Day Presentation January 2026
Slide 2: Disclaimer
Disclaimer ‘Tis presentation ncucng any accompanying oa presentation, this “Presentation fs being furnished soley to recipient that ar “qualified intiutonal bers” as defined in Rule 144A ofthe Secures Act of 1933, as amended (the “Secures Act’). ‘or insttutional “acted investors" (as defined in Rule
Slide 3: Disclaimer (Cont'd)
Disclaimer (Cont’d) ‘Compary could incur material costs and losses asa result of claims thatthe Company's products do not met regulatoy requirements o¢corvactal specifications) environmental aus and regulations and any changes to, or abies arising under ‘sich lave and ogulations could have material
Slide 4: Disclaimer (Cont'd)
Disclaimer (Cont’d) Nother Haymaker north Company makes ary representation or waranty, expresso implied, aso the accuracy or comploteness of this Presentation or anyother information (whether written or oral) that has been or wl be provided to you. Nothing contained herein or in anyother orl or weto
Slide 5: Today's Speakers
Today’s Speakers SW, Burs Laiy Hovmoter Acquistion Randall Edgar Tommy Wentroth Mark Jones Ned Fleming Mark Matteson Calvin Bocanegra Rick Black Christopher Bradley Andrew Heyer et Ecieve oer etna Oar Peer = age Ret Funan anne Fan Per ‘ezine Team restr Resters Home Acqtiton Cup. 4 Hymake Acqtion Cop
Slide 6: Table of Contents
Table of Contents Introduction & Key Investment Highlights Financial Overview Valuation Overview Appendix aia Suncrete
Slide 7: Slide 7
Slide 8: What Has Years of Investing Taught Us?
>, Suncrete What Has 40 Years of Investing Taught Us? Sy: Lessons Suncrete Led by a team of industry veterans and an experienced Sponsor with significant public construction Partner with Great Operators ‘materials experience that will be deeply involved in strategy and execution Concrete can only be
Slide 9: Executive Summary
Executive Summary >, Suncrete + Suncrete is excited to introduce an attractive opportunity to build a growing, high-performing business in an industry that ‘often misunderstood > 50 plants, 335 mixer trucks and including the acquisition of Schwarz, an estimated 1.7M cubic yards sold in 2025, provide
Slide 10: About Suncrete
$675M 2026E PF Revenue") ~26% 2026E Adj. EBITDA Margin) (vs. ~5-20% industry avg.) $39M - = PF Adj. EBITDA Currently Under Non-Binding LO! a ~ 11% Higher Truck Utilization Than 0) Industry = $60M+ 2; PF EBITDA in M&A Pipeline i under Active Discussion‘) —— $130M 2026E PF Adj. EBITDA) ~87% 2026E Free
Slide 11: Experienced Sponsor Applying a Proven Playbook
~ Experienced Sponsor Applying a Proven Playbook z Execution Strategy Developed over 20+ Years of Investment & Leadership in an Adjacent Sector with Construction Partners (NASDAQ: ROA Established Leadership in Fragmented Sunbelt Markets through Thoughtful M&A Track Record of Organic Growth across Ne
Slide 12: Key Investment Highlights
Key Investment Highlights Fragmented Market Characteristics Drive in an Adjacent Market, Cultivated over 20+ Years of ROAD Investment Scalable Platform with Strong Operations & Infrastructure, Management and with Differentiated Value Proposition to Suppliers and Customers Anchored in Large and Growi
Slide 13: Growing U.S. Sunbelt Market Supported by Strong Tailwinds
Growing U.S. Sunbelt Market Supported by Strong Tailwinds >>) Suncrete Powerful Market Tailwinds > _Significant Population Growth and Migration Population Growth and Migration Favorable Economic Growth ‘and Business Environment Critical Undersupply of Southern Housing Units‘ (0005) south Population
Slide 14: Attractive Market Characteristics Drive Compelling Opportunity
~ Attractive Market Characteristics Drive Compelling Opportunity. Suntrete Relative Market Share Business Model Highly-Fragmented Competitive Landscape Compelling Advantages Over Typical Competitors v ¥ Highly fragmented market characterized by local v and limiting competition to local geography pla
Slide 15: Suncrete Well-Positioned to Drive Strategic Consolidation
with Suncrete Well-Positioned to Drive Strategic Consolidation >, Suncrete Uniquely Positioned Through Relationships, Track Record and Value Proposition Limited Competition for Acquisition Targets: - —]_—_Secerteanty overookedy Prien Ey Ready.ix concrete histoncaly overlooked by an range Trusted acq
Slide 16: Led by Proven Industry Veterans and Entrepreneurial Culture
..Led by Proven Industry Veterans and Entrepreneurial Culture... Executive Leadership Deep Bench of Operational Talent Randall Edgar Chief Executive Officer Seco Car KPMG ee ‘Sunerete’s Culture is Built on a Foundation of Respect, Integrity and ‘a People-First Approach Which Has Contributed to Their
Slide 17: Scalable Current Platform with Strong Operations & Infrastructure
Dn, Scalable Current Platform with Strong Operations & Infrastructure... Sines ‘Scaled, Strategically Located Footprint Well-Invested, Efficient Asset Base ok rn ectoe Office Locations: AR Headquarters Tulse, OK) am il j ~1.8M CY #1 or #2 3 ~617 3.0-3.5 Production Faciities, Annual RMC Production) P
Slide 18: Driving Significant Advantages over Typical Competitors
Driving Significant Advantages over Typical Competitors >>) Suncrete Company Scale & Market Leadership ‘Supplier Relationships Customer Value Proposition Growth Strategy Operational Infrastructure Margin Profile SW, Suncrete #1 or #2 player in current markets with repeatable strategy to drive relati
Slide 19: Differentiated Value Proposition to Suppliers and Customers
Dy Differentiated Value Proposition to Suppliers and Customers suncréte Value Proposition to Customers 1e Proposition to Suppliers Dependable Quality Offers a comprehensive suite of fully customizable ‘solutions with robust quality control Consistent Demand Predictable demand fosters growth alongsid
Slide 20: Acquiror of Choice with Deep, Actionable Pipeline
Acquiror of Choice with Deep, Actionable Pipeline >, Suncrete ‘Thoughtful Strategic Criteria Drives Highly Actionable Pipeline zs 71 Talented operational L_ managementteam a) Growing Sunbelt market, | with strong demand outlook > 7 By Size | Im $754 Revenue 5756151000 Revenue Im $1000+ Revere Tani C
Slide 21: Well-Defined Value Creation Levers Post-Acquisition
Well-Defined Value Creation Levers Post-Acquisition. >>) Suncrete Well fined Value Creation Levers Utilization & Pricing > Optimize dispatch and fleet utilization to support volume increases driven by demand aggregation within local market > Disciplined pricing procedures and controls Operating Leve
Slide 22: Organized into a Detailed and Effective Integration Framework
Organized into a Detailed and Effective Integration Framework Back Office Integration Integration playbook enables Suncrete to deliver significant backend support and efficiencies though ‘scaled corporate infrastructure allowing platform companies to focus on commercial opportunities Consolidate car
Slide 23: Executing a Structured Integration for Measurable Results
| Executing a Structured Integration for Measurable Results Robust Integration Playbook Pre-Deal Assessment Locational footprint ana routing ‘compettve landscape panning Assessment of personne! ‘and talent Sales and input pricing relate to market ‘systems and processes ‘Suncrete’s Design and Executi
Slide 24: Financial Overview
<r Suncrete Financial Overview
Slide 25: Visibility to $130 Million PF Adj. EBITDA in 2026
Visibility to $130 Million PF Adj. EBITDA in 2026 ‘trong Organi Growth Engine Supported by Significant, Actionable M&A Opportunity. » ‘Strong Current Platform eee =a : ‘cicrmmemenmlvenaromeuernewareto. “| @ $190 eet ars ah et we oe . (3) $41 selling price increases ame e Financials fr al targets are
Slide 26: Suncrete / Haymaker Business Combination - Transaction Overview
Suncrete / Haymaker Business Combination - Transaction Overview >, Suncrete Estimated Sources ($M) Pro Forma Valuation at Closing ($M, except per share data) HYAC Cash in Trust at Closing”) $170.0 Assumed Share Price $11.376) PIPE I 82.5 Pro Forma Shares Outstanding 68.3 Incremental Debt Financing*)
Slide 27: Performance Update & Key Financial Assumptions
Performance Update & Key Financial Assumptions Current Platform reflects businesses owned by Suncrete today, and is inclusive of both the base business as well as the target acquired in October of 2025 2025€ reflects latest estimate for year-end performance for the current platform, which inciudes t
Slide 28: Suncrete has a Compelling Financial Profile and Industry-Leading Profitability
Suncrete has a Compelling Financial Profile and Industry-Leading Profitability (Sin Milions) Current Platform’ Il Targets Under Non-BindingLO| lll Go-Get Revenue & Growth?) $242 20230F ‘Suen Pato Organic Gaowtn [14.9% em] Cas Gross Profit & Margin) on se gat $04 $98 20230F 2028PF 20256 2026 Margin [
Slide 29: Summary of Capital Expenditures
> Summary of Capital Expenditures Suncrete Historical & Projected CapEx (S in Mitions) I Org. Maintenance I Org. Growth ‘Acq. Maintenance Wi, Wea, Growth Main. Capéxas % of Sales il 2% 2% 3% FCF Conv.) 28% 91% 289% 27% Commentary ‘Strong, consistent cash flow generation with exceptional free cash fl
Slide 30: Slide 30
Slide 31: Selected Public Companies Benchmarking
=~ Selected Public Companies Benchmarking Suncréte sevazuSA. SiteOne ex Select canaries Suncrete CRQYAUANTA Efex... Av. Vulcan Pure-play ready-mix concrete provider feline on ciowtn is the Sabet rege Market-leading industry consolidators U.S. heavy materials providers Similar products, end-markets&
Slide 32: Appendix
Appendix
Slide 33: Reconciliation of 2023A - 2025E Adjusted EBITDA
Reconciliation of 2023A - 2025E Adjusted EBITI >, Suncrete Target Acquired in October '25 20234 PF Consolidated 20234 Target Acquired in October '25 20248 PF Consolidated | PF Consolidated 20240 2025E Net income $270 $15.6 $425 $245 $132 (+) merest 09 09 64 (4) Taxes : 14 (+) Daa 6a 48 109 116 53 16
Slide 34: Risk Factors
Risk Factors Ricks Related to Sunrete's Business and Industry ‘ui business depends on activity within the constuction industyand the economic strength of Our principal markets and is subject to econamse oes. Tho success of ur business depends, signticanty. on ou ably to execute on our acquston svate
Slide 35: Risk Factors (Cont'd)
Risk Factors (Cont'd) Riche Related to Government Spending Legis and Re ‘Our operations are subject to changes in legal requirements and govermental poles, ‘Government contacts general are subject to ava of regulators, requements and states, the violation or alleged violation of which could have a m
Slide 36: Risk Factors (Cont'd)
Risk Factors (Cont'd) ‘You wi ot have any rigor intrest in funds from the trust account. except undor certain ited circumstances to liquidate your invostment. therefore you may be frcod to sel your Haymakor las A ordinary shares potently tals. Haymnaker may not be able to complat ts intial Proposed