Slide 1: Investor Presentation Fiscal 2025, Quarter 4
Nasdaq: HWKN Investor Presentation FISCAL 2025, QUARTER 4 Published: May 14, 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS The information contained in this presentation includes “forward-looking statements” which reflect management’s expectations or beliefs as of the date of this presentation. Hawkins, Inc. cautions that actual future results could differ materially from the forward-looking s
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS 1. Long track record of growth since our founding in 1938 2. Consistently paid out dividends since 1985 3. Critical products and services 4. Executing on growth strategy ©2025 Hawkins, Inc. ©2025 Hawkins, Inc. 3
Slide 4: Our Mission, Promise & Core Values
OUR MISSION, PROMISE & CORE VALUES To supply quality products and innovative solutions with exceptional service. We will respond quickly to changing customer needs with a focus on safety, technical expertise, and responsible care of the environment and of our community. Ry Cs Ce Ad Tk Rs RESPONSIBIL
Slide 5: Growth Strategy
GROWTH STRATEGY ▪ Grow earnings ACQUISITIONS ▪ Expand our specialty and value-added services ▪ Bolster and improve our extensive supplier base INVEST IN NEW CAPABILTIES ▪ Add new Water Treatment facilities annually ▪ Invest in capabilities for higher margin / growth products INTRODUCE NEW PRODUCTS ▪
Slide 6: Trailing Twelve Months Quarterly EPS
TRAILING TWELVE MONTHS QUARTERLY EPS 4.50 3.91 3.92 4.03 4.00 3.85 25% EPS 5-year CAGR 3.48 3.59 3.50 3.28 3.04 2.78 2.81 2.86 3.00 2.59 2.37 2.44 TTM EPS 2.50 2.17 2.26 1.93 2.00 1.72 1.56 1.43 1.50 1.00 0.50 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY21 FY22 FY23 FY24 FY25 ©20
Slide 7: Strong Track Record of Accretive Acquisitions
STRONG TRACK RECORD OF ACCRETIVE ACQUISITIONS 04/2025 WaterSurplus in Illinois (Water Treatment) 01/2025 Amerochem in North Carolina (Water Treatment) 10/2024 Water Guard in North Carolina (Water Treatment) 07/2024 Wofford Water Service in Mississippi (Water Treatment) 06/2024 Intercoastal Trading i
Slide 8: Consistent Return of Capital to Shareholders
CONSISTENT RETURN OF CAPITAL TO SHAREHOLDERS DIVIDENDS & SHARE REPURCHASES (IN MILLIONS) 40.0 Dividends Share Repurchases 35.0 0.7% 30.0 25.0 $20.7 DIVIDEND YIELD 20.0 $11.3 15.0 10.0 $5.9 $4.1 $8.5 $6.6 40 $11.1 $12.0 $13.2 $14.6 5.0 $9.8 $10.0 - CONSECUTIVE YEARS OF FY2020 FY2021 FY2021 FY2021 FY2
Slide 9: Stock Performance
STOCK PERFORMANCE 800 Hawkins, Inc. 600 400 200 0 2020 2021 2022 2023 2024 2025 Hawkins, Inc. Nasdaq Composite Index S&P Small Cap 600 Index Nasdaq Industrial Index Russell 2000 Index This graph compares the cumulative total shareholder return on our common shares with the cumulative total returns o
Slide 10: Capital Allocation
CAPITAL ALLOCATION OPERATING CASH FLOW (IN $ MILLIONS) - Invest in the business 180.0 - Pay dividends 160.0 140.0 - Manage debt 120.0 - Repurchase shares 100.0 to offset dilution 80.0 $159.5 60.0 - Opportunistic acquisitions $111.1 40.0 $77.4 $58.9 20.0 $43.8 $42.8 - FY2020 FY2021 FY2022 FY2023 FY20
Slide 11: Environmental, Social, and Governance
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ▪ Environmental - Products we sell generally can be neutralized to a safe pH balance, reducing their impact on the environment - Many of our products can be used to help our customers improve efficiencies and reduce emissions ▪ Social - Supply the products that
Slide 12: Company Snapshot
COMPANY SNAPSHOT Hawkins’ diversified market FISCAL 2025 REVENUE OF $974.4M segments provide multiple avenues for sustainable and profitable growth and create synergies among the $145.5M $105.1M 15% 19% different segments $382.5M 39% $275.2M $446.5M 51% $159.9M Three Business Segments: 46% 30% Water
Slide 13: Segment Growth Focus
SEGMENT GROWTH FOCUS ▪ Water Treatment - Grow all 51 water treatment facilities, while adding new locations through acquisitions or new greenfield expansion - Continued focus on superior service with local expertise ▪ Industrial - Grow pharmaceutical, food, and agricultural business through new prod
Slide 14: Locations
LOCATIONS 63 FACILITIES IN 28 STATES WITH ~1,000 EMPLOYEES ©2025 Hawkins, Inc. 14
Slide 15: People & Culture Matter
PEOPLE & CULTURE MATTER ▪ Strong Supplier Relationships ▪ Long-Term Customers - Strong partnerships with key - Strong, long-term relationships suppliers including caustic - Deliveries 365 days/year soda, hydrochloric acid, ▪ Local Community phosphates and specialty Involvement products - Products to
Slide 16: Infrastructure Differentiators
INFRASTRUCTURE DIFFERENTIATORS ▪ 63 locations to serve our customers ▪ Hawkins Fleet - 51 Water Treatment locations - 230+ Water Treatment Route Sales - 10 Manufacturing facilities Trucks to deliver the last mile to the customer - 2 main office locations - 35+ Tractors ▪ Facility Space - 100+ Traile
Slide 17: Financials
FINANCIALS
Slide 18: Fiscal 2020-2025 Financials
FISCAL 2020-2025 FINANCIALS (IN MILLIONS, EXCEPT PER SHARE DATA) SALES GROSS PROFIT NET INCOME 24% CAGR $84.3 13% CAGR 17% CAGR $75.4 $225.5 $193.6 $60.0 $165.1 $51.5 $935.1 $919.2 $974.4 $146.5 $41.0 $774.5 $123.8 $100.9 $28.4 $540.2 $596.9 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2020 FY
Slide 19: Fiscal 2025 Fourth Quarter Financials
FISCAL 2025 FOURTH QUARTER FINANCIALS REVENUE OPERATING INCOME 28th CONSECUTIVE QUARTER ($ Million) ($ Million) OF YEAR-OVER-YEAR OPERATING INCOME GROWTH $223.0 $245.3 $24.6 $20.1 - Record 4th quarter revenue of $245.3M, growth of Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 10% from the prior year - Record 4th
Slide 20: Fiscal 2025 Fourth Quarter Year-to-Date Financials
FISCAL 2025 FOURTH QUARTER YEAR-TO-DATE FINANCIALS DOUBLE-DIGIT YEAR-OVER-YEAR GROWTH IN KEY REVENUE OPERATING INCOME ($ Million) ($ Million) MEASURES, INCLUDING REVENUE, GROSS PROFIT, OPERATING INCOME, NET INCOME AND DILUTED EARNINGS PER SHARE (EPS) $974.4 $919.2 $104.0 $119.2 - Record full-year re
Slide 21: Reporting Segments
REPORTING SEGMENTS
Slide 22: Water Treatment Group overview
Our Water Treatment Group specializes in providing chemicals, equipment, and solutions for treatment of potable water, municipal and industrial wastewater, agricultural water, and industrial process water. Our salesperson/route driver is a trained technician who can deliver our products and diagnose
Slide 23: Focus Areas
FOCUS AREAS - Municipal Drinking Water - Breweries/Wineries - Municipal Wastewater - Agricultural Water Treatment - Municipal Swimming Pools o Poultry o Swine - Industrial Wastewater o Dairy - Industrial Process Water o Citrus Groves - Cooling Systems/Cooling o Farm Crops - Towers ©2025 Hawkins, Inc
Slide 24: Differentiators
DIFFERENTIATORS ▪ Large Geographic Territory - Locations in 51 Cities in 26 States ▪ Full Line Product Offering - Chemistries and Equipment ▪ Route Sales/Service Business Model - Technical Application Specialists ©2025 Hawkins, Inc. 24
Slide 25: Water Treatment Financials (in Millions)
WATER TREATMENT FINANCIALS (IN MILLIONS) SALES (23% CAGR) GROSS PROFIT (24% CAGR) $446.5 $121.6 $363.3 $304.9 $98.5 $228.1 $67.2 $159.9 $170.0 $46.8 $54.6 $41.9 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 SG&A (26% CAGR) OPERATING INCOME (22% CAGR)
Slide 26: Industrial Group overview
Our Industrial Group formulates, manufactures, and distributes specialty and industrial chemicals. Hawkins also provides custom toll blending and product development services for our customers.
Slide 27: Focus Areas
FOCUS AREAS • Pharmaceutical • Industrial/Manufacturing • Sugars • Mining and Oil Fields • Excipients • Metal Salts • Phosphates • Cleaners and Acids • Cleaners, Acid, Alkaline • Plating Additives • Food and Beverage • Agriculture • Preservatives • Fertilizers • Dairy Processing Aids • Crop Preserva
Slide 28: Differentiators
DIFFERENTIATORS ▪ Technical Knowledge ▪ Services Include: - 85+ Years of Experience - Contract Manufacturing and Packaging ▪ Geographic Distribution - Regulatory and Safety Assistance - Multiple Manufacturing Facilities with - Inventory Management Extensive Storage Capacity - Remote Tank Monitoring
Slide 29: Industrial Financials (in Millions)
INDUSTRIAL FINANCIALS (IN MILLIONS) GROSS PROFIT (13% CAGR) SALES (7% CAGR) $470.8 $72.6 $409.5 $68.1 $67.5 $386.9 $382.5 $59.6 $275.2 $273.4 $43.3 $38.9 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 SG&A (3% CAGR) OPERATING INCOME (25% CAGR) $28.1 $
Slide 30: Health & Nutrition Group overview
Our Health & Nutrition Group provides a broad spectrum of high-quality ingredients for use in dietary supplements, functional food and beverage, pharmaceutical and pet food products. Our Health & Nutrition Group has a team of professionals trained to sell all product categories, to fully support pro
Slide 31: Focus Areas
FOCUS AREAS - Energy, Immunity, and - Minerals Cognition Ingredients - Oils/Oil Powders - Amino Acids - Fibers - Antioxidants - Probiotics - Botanicals - Plant Proteins - Enzymes - Vitamins - Joint Products ©2025 Hawkins, Inc. 31
Slide 32: Differentiators
DIFFERENTIATORS Our Health & Nutrition group is positioned as a one-stop ingredient solution provider to its customers and is highly regarded as a leader in the health and nutrition industry - Robust product portfolio - Represents key brand manufacturers that offer science-based, clinically studied
Slide 33: Global Innovation Through Strategic Partnerships
GLOBAL INNOVATION THROUGH STRATEGIC PARTNERSHIPS ©2025 Hawkins, Inc. 33
Slide 34: Health and Nutrition Financials (in Millions)
HEALTH AND NUTRITION FINANCIALS (IN MILLIONS) SALES (7% CAGR) GROSS PROFIT (9% CAGR) $153.5 $159.5 $159.4 $146.4 $145.5 $33.6 $32.3 $31.3 $29.8 $27.6 $105.1 $20.1 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 OPERATING INCOME SG&A (2% CAGR) (25% CAGR
Slide 35: Summary
SUMMARY
Slide 36: Business Strategy
BUSINESS STRATEGY ▪ Expand our specialty and value-added services - Customer formulation - Technical and quality - Sales ▪ Add new Water Treatment facilities annually ▪ Bolster and improve our extensive supplier base ▪ Invest in higher margin/growth production capabilities ▪ Foster strong people cul
Slide 37: Appendix
APPENDIX
Slide 38: End Markets Served
END MARKETS SERVED ▪ Pharmaceutical ▪ Water Usage ▪ Health and Nutrition - Sugars - Wastewater - Vitamins - Excipients - Drinking Water - Amino Acids - Phosphates - Pools - Minerals - Cleaners, Acid, Alkaline - Bioaugmentation - Botanicals - Joint Products ▪ Food and Beverage ▪ Industrial/Manufactur
Slide 39: Significant Products
SIGNIFICANT PRODUCTS - Acetic Acid - Formic Acid - Flocculants - Ammonia and Aqua - Hydrochloric Acid - Coagulants Ammonia - Nitric Acid - Precipitants - Bleach - Phosphoric Acid - Antifoams - Calcium Chloride - Propionic Acid - Fluoridation - Caustic Potash (Potassium - Propylene Glycol - Equipment
Slide 40: Non-GAAP Measures
NON-GAAP MEASURES ADJUSTED EBITDA* Fiscal (in thousands) 2021 2022 2023 2024 2025 Net Income $40,980 $51,542 $60,041 $75,363 $84,345 Interest expense, net 1,467 1,404 5,234 4,282 5,432 Income tax expense 14,871 18,437 22,541 25,782 30,038 Amortization expense 5,839 6,462 6,924 8,539 12,764 Depreciat
Slide 41: Celebrating 85+ Years of Serving Our Customers
Celebrating 85+ Years of Serving Our Customers Questions/Comments Jeffrey P. Oldenkamp Executive Vice President and Chief Financial Officer call: 612.331.6910 Email (Investor Relations): ir@hawkinsinc.com