Slide 1: Wajax Corporation Financial Results Q3 2025
WAJAX CORPORATION FINANCIAL RESULTS Q3 2025 November 4, 2025 1 Together We Get More Done.
Slide 2: Cautionary Statement Regarding Forward-Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation contains certain forward-looking statements and forward-looking information, as defined in applicable securities laws (collectively, “forward-looking statements”). These forward-looking statements relate to future events or
Slide 3: Non-GAAP and Other Financial Measures
NON-GAAP AND OTHER FINANCIAL MEASURES This presentation contains certain non-GAAP and other financial measures that do not have a standardized meaning prescribed by generally accepted accounting principles ("GAAP"). Therefore, these financial measures may not be comparable to similar measures presen
Slide 4: Wajax At-A-Glance
WAJAX AT-A-GLANCE NATIONAL FOOTPRINT 167-year operating history 107 branches coast-to-coast A broad range of industrial products and services Diverse market and sector experience REVENUE SOURCES Q3 2025 REVENUE SOURCES YTD 2025 ($ millions) ($ millions) Industrial Parts Industrial Parts and Engineer
Slide 5: Purpose and Values
PURPOSE AND VALUES Empowering People to Build a Better Tomorrow We commit to safety and well-being; We develop potential and expertise; We deliver an exceptional experience together; We build lasting relationships; and We strive to continuously improve. Together We Get More Done. 5 Wajax Financial R
Slide 6: 2025 Strategic Priorities
2025 STRATEGIC PRIORITIES Continue to build a people-first company. Grow our existing business with a focus on parts, service and margin improvement. Unlock the potential of our enhanced direct relationship with Hitachi. Acquire and integrate Industrial Parts and ERS businesses. Improve our cost str
Slide 7: Highlights – Third Quarter
HIGHLIGHTS – THIRD QUARTER Wajax delivered steady performance in the third quarter of 2025, highlighted by gross profit margin growth, higher earnings and improved leverage 0.4% 160 bps GROSS 20% 69% -9% REVENUE ADJUSTED ADJUSTED YTD TRIF3 PROFIT $483.1 MARGIN1 EBITDA1 BASIC EPS1 million $44.8 $0.75
Slide 8: Revenue by Region
REVENUE BY REGION Third quarter growth in central Canada construction and forestry, industrial parts and ERS sales were partially offset by sales declines in eastern Canada Q3 2025 ($ millions) YTD 2025 ($ millions) 4% 3% (2)% (1)% 8% 0% Note: Totals may not add due to rounding. Together We Get More
Slide 9: Heavy Equipment and Product Support Revenue
HEAVY EQUIPMENT AND PRODUCT SUPPORT REVENUE Equipment YoY Change 4.5% 31.5% 74.2% (2.1)% (0.3)% • Decrease from Q2 2025 was due primarily to lower construction and forestry sales in western and eastern Canada and lower mining sales in western Canada. • Decrease from Q3 2024 was due to lower sales in
Slide 10: Industrial Parts and ERS Revenue
INDUSTRIAL PARTS AND ERS REVENUE Industrial Parts YoY Change (15.3)% (1.7)% (6.6)% (4.1)% —% • Decrease from Q2 2025 was due primarily to lower sales in western and eastern Canada offset partially by higher sales in central Canada. ERS YoY Change 1.9% (23.7)% (3.2)% (1.1)% 3.5% • Decrease from Q2 20
Slide 11: Revenue by Category
REVENUE BY CATEGORY Strong mining revenue and ERS sales offset by lower construction and forestry and material handling sales in the third quarter YTD* CATEGORY4 Q3 2025 Q3 2024 CHANGE YTD 2025 YTD 2024 CHANGE W C E HEAVY EQUIPMENT $ 265.9 $ 266.3 $ (0.4) $ 916.6 $ 845.7 $ 70.9 ↑ ↑ — Construction an
Slide 12: Backlog and Inventory
Backlog 2 1 BACKLOG1 1. Backlog decreased by $17.8 million (-3.4%) from Q2 2025 to $506.5 million 2. Backlog decreased by $81.6 million (-13.9%) compared to Q3 2024 Inventory 2 1 INVENTORY 1. Total inventory of $605.7 million increased $3.0 million compared to Q2 2025 2. Total inventory decreased $1
Slide 13: Cash Flow, Leverage and Balance Sheet
CASH FLOW, LEVERAGE1 AND BALANCE SHEET Cash Flow from Operating Activities Working Capital Efficiency1 Leverage1 Total committed credit facilities 2.78x 2.61x 2.53x 2.35x 2.28x Working capital efficiency has improved slightly from Q2 2025 due to lower trailing four quarter average working capital an
Slide 14: Outlook
OUTLOOK • Looking ahead to the balance of 2025, Wajax continues to see strong customer demand in the mining and energy sectors, with the former supported by a robust equipment backlog. • The broader end-market environment remains challenging, with macroeconomic softness and ongoing uncertainty relat
Slide 15: Appendix
APPENDIX 1 Together We Get More Done.
Slide 16: Endnotes
ENDNOTES 1. This measure does not have a standardized meaning prescribed by GAAP. Please see Wajax’s Management’s Discussion and Analysis for the three and nine months ended September 30, 2025 under the heading “Non-GAAP and Other Financial Measures”, which is available on SEDAR+ at www.sedarplus.ca
Slide 17: wajax.com
wajax.com Together We Get More Done.