Slide 1: Shimmick Corporation Q3 2025 Earnings Presentation
SHIMMICK CORPORATION Q3 2025 Earnings Presentation November 13, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation is being delivered on behalf of Shimmick Corporation (the “Company”). The sole purpose of this presentation is to provide information in connection with a review of the Company’s operations and/or financial status. This presentation does not purport to be all-inclusive o
Slide 3: Q3 2025 Results & Recent Highlights
Q3 2025 RESULTS & RECENT HIGHLIGHTS • Revenue on core Shimmick • Reported revenue of $142 million, with $107 million from Shimmick Projects(1) • When excluding the one-time favorable GGB Project claim settlement revenue of $31 projects up 6% year over year million recorded during Q3 2024, revenue in
Slide 4: Q3 2025 Market and Pipeline Update
Q3 2025 MARKET AND PIPELINE UPDATE • Our pipeline supports monthly bidding activity of $600M-$1B per month • Recent and upcoming bids cover our strategic priorities and core markets, with concentration in water and electrical infrastructure in CA, WA & TX with a mix of: • Water Treatment Plants • Wa
Slide 5: Backlog Momentum
BACKLOG MOMENTUM • Awarded $191M in new Projects in Q3 2025 • Achieved $60M in new awards in Oct’25 • Announced as preferred bidder on $169M in Q4 2025 • Q3’25 Book-to-Burn Ratio >1 for the first time in two years • These wins show the results of our investment made earlier in 2025 to reorganize and
Slide 6: Q3 Revenue and Gross Margin
Q3 REVENUE AND GROSS MARGIN Shimmick Projects Revenue Shimmick Projects Gross Margin Quarter In Review $107M $101M $10M Shimmick Projects revenue and margin $6M increases were driven by new projects ramping up Non-Core Projects revenue decrease reflects Q3 2024 Q3 2025 Q3 2024 Q3 2025 Non-Core Proje
Slide 7: 2025 Full Year Guidance
2025 FULL YEAR GUIDANCE Shimmick Projects Revenue Shimmick Projects Gross Margin For fiscal year ending January 2, 2026, $405M - $415M 9% - 12% we reaffirm our guidance and expect: $356M Shimmick Projects revenue in the range of $405 million and $415 million, with gross margin between 3% 9% and 12%
Slide 8: Closing
CLOSING Our investments in strategic backlog growth are yielding results and will continue into Q4 and into 2026 with increased backlog and revenue, driven by growing contributions from our electrical business Margins on core work is showing consistency and stability. As the remaining revenue re
Slide 9: Appendix
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Slide 10: GAAP to Non-GAAP Reconciliations
GAPP TO NON-GAAP RECONCILIATIONS (1) Consists of transformation-related costs we have incurred including advisory costs in connection with settling outstanding claims in connection with exiting certain Non-Core Projects as part of the *Please refer to the following page for Company’s growth strategy
Slide 11: Non-GAAP Financial Measures Explanatory Notes
NON-GAAP FINANCIAL MEASURESEXPLANATORY NOTES Adjusted Net (Loss) Income Adjusted EBITDA Adjusted net (loss) income represents Net loss attributable to Shimmick Corporation adjusted to eliminate stock- Adjusted EBITDA represents our Net loss attributable to Shimmick Corporation before interest expens
Slide 12: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET ($ in 000’s) October 3, 2025 January 3, 2025 Assets Cash and Cash Equivalents $17,597 $33,730 Total Current Assets 162,321 141,000 Total Assets 218,489 233,864 Liabilities Total Current Liabilities 194,661 230,264 Total Liabilities 271,145 268,538 Stockholders’ Deficit Tot
Slide 13: Shimmick Experience in Target Market Segments
SHIMMICK EXPERIENCE IN TARGET MARKET SEGEMENTS Water Resources Climate Resilience Treatment, storage, and conveyance Flood defense and sea-level rise infrastructure North City Pure Water Facility Chickamauga Lock Replacement Foster City Levee Improvement Rapid Disaster Infrastructure Repair San Dieg
Slide 14: Recent Awards in Target Segments
RECENT AWARDS IN TARGET SEGMENTS City of Modesto Stockton East City of Santa Port of Seattle Palisades Fire River Trunk Pump Water District Monica Pier Bridge Terminal 18 Cleanup Station Project Bellota Weir Mods Replacement Shore Power $116M $51M $30M $30M $32M Modesto, CA Linden, CA Santa Monica,
Slide 15: Investor Contact
Investor Contact IR@shimmick.com 1-949-704-2350 investors.shimmick.com Delivering Sustainable Infrastructure Solutions