Slide 1: Materion Corporation 1Q 2026 Earnings Presentation
Materion Corporation 1Q 2026 Earnings Presentation April 29, 2026 © 2026 Materion Corporation
Slide 2: Agenda
Agenda Introduction Kyle Kelleher – Director, Investor Relations and Corporate FP&A Opening Remarks & Jugal Vijayvargiya – President and Chief Executive Officer Business Update Financial Shelly Chadwick – Vice President and Chief Financial Officer Review Q&A Question and Answer Session © 2026 Materi
Slide 3: Forward-looking Statements and Non-GAAP Financial Information
Forward-looking Statements and Non-GAAP Financial Information These slides contain (and the accompanying oral discussion will contain, where applicable) “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown
Slide 4: Opening Remarks & Business Update
Opening Remarks & Business Update Jugal Vijayvargiya President and Chief Executive Officer © 2026 Materion Corporation 4
Slide 5: Q1 2026 Highlights
Q1 2026 Highlights Order Book Acceleration Continues; Exceptional Profitability Improvement in Electronic Materials and Precision Optics Value-added (VA) sales of $261.8 million, up 10% YoY excluding precision clad strip ▪ Up 1% YoY driven by growth across most end markets ▪ Electronic Materials up
Slide 6: End Market Performance
End Market Performance Q1 2026 Market VA Sales vs. Q1 2025 Comments ▪ Capturing outsized growth from proliferation of AI and new business wins Semiconductor $79.5 16% ▪ Strongest Q1 since 2023, third consecutive quarter of YoY growth Aerospace & ▪ Increase driven by continued growth in space and def
Slide 7: 2026 Sales Outlook Improving; Now Expecting Double-Digit YoY Growth
2026 Sales Outlook Improving; Now Expecting Double- Digit YoY Growth ▪ Q1 ‘26 value-added sales up 10% YoY excluding precision clad strip ▪ Record backlog up 20%+ YoY and ~15% since the beginning of the year ▪ Continued momentum in defense with incoming orders of ~$60M in Q1 and $300M+ in open RFQs
Slide 8: Materion Enabling the Proliferation of AI
Materion Enabling the Proliferation of AI Data Centers Connectivity Energy Space Semiconductor Vast portfolio of Be materials and other Materials for rocket materials for high deposition materials for alloys serving nuclear launch components performance semiconductor chips reactor technology Broad p
Slide 9: Key Takeaways
Key Takeaways ▪ Momentum building as new business initiatives and market strength set the stage for record year ▪ Q1 ’26 adjusted EBITDA margin of 20.2%, 140 bps margin expansion ▪ Electronic Materials delivered highest quarterly EBITDA and margin ▪ Precision Optics delivered a 4th consecutive quart
Slide 10: Financial Review
Financial Review Shelly Chadwick Vice President and Chief Financial Officer © 2026 Materion Corporation 10
Slide 11: Q1 2026 Operating Performance
Q1 2026 Operating Performance Value-added Sales ($M) Adj. EBITDA ($M) Adj. EPS $52.9 $1.27 $261.8 $259.3 $48.7 +12% +1% +9% $1.13 20.2% 18.8% Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Value-added sales were $261.8 million, up 1% YoY Adjusted EBITDA at $52.9 million, margin of 20.2% Adjusted EP
Slide 12: Q1 2026 Financial Comparison
Q1 2026 Financial Comparison Adjusted EBITDA of $52.9 million, or 20.2% of VA Sales ▪ Increase driven by higher volume and favorable price/mix ▪ Strong performance within Electronic Materials and Precision Optics ▪ FX/Other includes and increase in consignment fees due to higher precious metals pric
Slide 13: Performance Materials Segment
Performance Materials Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $139.5 million ▪ Decrease driven primarily by lower precision clad strip volume $40.9 $160.0 ▪ Remainder of business flat YoY; strength in -13% $139.5 aerospace & defense and telecom & data center, -32% offset
Slide 14: Electronic Materials Segment
Electronic Materials Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $91.6 million, up 18% YoY ▪ Increase driven primarily by strength in $91.6 $25.9 semiconductor ▪ Growth supported by proliferation of AI, fueling $77.8 high-performance memory demand and new +18% +95% business
Slide 15: Precision Optics Segment
Precision Optics Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $30.7 million, up 43% YoY $5.5 ▪ Increase led by market improvement and new business opportunities across each end market $30.7 ▪ 4th consecutive quarter of top-line improvement, highest quarterly sales since 2021
Slide 16: Cash, Debt and Liquidity
Cash, Debt and Liquidity Leverage slightly below midpoint of target range ($M) Q1 2025 Q1 2026 of 1.5x – 3x Short-term Debt $52.6 $23.1 Approximately $192 million available on revolving credit facility Long-term Debt $398.7 $466.9 ▪ Adequate liquidity remains to support growth Total Debt $451.3 $490
Slide 17: Full Year 2026 Guidance
Full Year 2026 Guidance Adj. EPS Guidance $6.00 - $6.50 $5.44 +15-20% 2026 Guidance ▪ Full year adjusted EPS guidance of $6.00 - $6.50 ▪ Increased optimism in achieving upper end of the range ▪ Expect sequential improvement throughout the year 2025 2026E 2026 Modeling Assumptions Capital Expenditure
Slide 18: Invest in Materion as We Advance Our Strategy
Invest in Materion as We Advance Our Strategy Becoming a global leader in high-performing advanced materials serving diverse and attractive markets well aligned with megatrends Building robust pipeline with investments in R&D as we focus on developing innovative solutions for our customers Leveragin
Slide 19: Appendix
Appendix © 2026 Materion Corporation 19
Slide 20: Reconciliation for Value-added Sales
Reconciliation for Value-added Sales The cost of gold, silver, platinum, palladium, copper, ruthenium, iridium, rhodium, rhenium, and osmium is passed through to customers and, therefore, the trends and comparisons of net sales are affected by movements in the market price of these metals. The use o
Slide 21: Reconciliation for Non-GAAP Measures
Reconciliation for Non-GAAP Measures We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environmental rem
Slide 22: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 23: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 24: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 25: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 26: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) ($ in millions) Q1 2026 Q1 2025 Q1 2026 TTM Q1 2025 TTM GAAP as Reported Net income $ 19.4 $ 17.7 $ 76.5 $ 10.2 Income tax expense (benefit) 1.5 3.3 5.0 11.2 Interest expense 7.6 6.9 31.5 33.3 Depreciation, depletion, and amortization 18.4 16.5 70.9 68.9
Slide 27: Materion enables what's next
Materion enables what’s next Materion Corporation +1 216.486.4200 http://www.materion.com Connect With Us © 2025 Materion Corporation