Slide 1: Fourth Quarter and Full Year 2025 Earnings Presentation
Fourth Quarter and Full Year 2025 Earnings Presentation February 26, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, invol
Slide 3: Opening Remarks
Opening Remarks 2025…A Transitional Year for TriMas New Leadership, Sharper Focus Appointed a new CEO in June and CFO in December, bringing refreshed leadership and strategic focus Clarified roles and accountability, enabling faster decision-making and enhanced execution Operational & Commercial
Slide 4: Creating a Focused, Streamlined Company
Creating a Focused, Streamlined Company Update on Important Actions TriMas Aerospace Disciplined Capital Organizational Realignment & Sale Status Deployment Cost-out Initiatives Sale of TriMas Aerospace previously Capital allocation remains focused on Implemented a company-wide realignment to
Slide 5: Fourth Quarter and Full Year 2025 Results – Total Company
Fourth Quarter and Full Year 2025 Results – Total Company(1) Q4 Net Sales Q4 Adj. Segment Q4 Adj. Earnings Q4 2025 Results (in millions) Operating Profit (2) Per Share(3) Sales growth in Packaging and Aerospace more (in millions) $256.5 than offset the loss of sales related to the Arrow +12.5% Eng
Slide 6: Balance Sheet & Capitalization
Balance Sheet & Capitalization Low-Interest Rate Senior Notes Do Not Mature Until 2029 Total Company Solid balance sheet, supported by low-interest, December 31, 2025 December 31, 2024 long-term debt with no maturities until 2029 Key Credit Statistics Total Debt* $469.2 $398.1 Net leverage(1) in
Slide 7: Segment Overview: Packaging
Segment Overview: Packaging Adjusted for Special Items Q4 2025 Q4 2024 Change FY 2025 Net Sales $129.3 $123.1 5.0% $535.5 Operating Profit $15.0 $15.7 -4.9% $71.4 Operating Margin 11.6% 12.8% -120 b ps 13.3% (1) Adjusted EBITDA $21.5 $25.0 -14.0% $105.0 Adjusted EBITDA Margin 16.6% 20.3% -370 b ps 1
Slide 8: Segment Overview: Specialty Products
Segment Overview: Specialty Products Adjusted for Special Items Q4 2025 Q4 2024 Change FY 2025 Net Sales $26.2 $26.6 -1.4% $110.2 Operating Profit $1.7 $0.8 125.0% $5.4 Operating Margin 6.5% 2.9% 360 b ps 4.9% (1) Adjusted EBITDA $2.4 $1.7 39.0% $8.5 Adjusted EBITDA Margin 9.1% 6.5% 260 b ps 7.7% Ta
Slide 9: Segment Overview: Aerospace
Segment Overview: Aerospace (Reported as Discontinued Operations) Adjusted for Special Items Q4 2025 Q4 2024 Change FY 2025 Net Sales $101.0 $78.3 28.9% $396.4 Operating Profit $16.2 $10.6 52.4% $72.3 Operating Margin 16.0% 13.6% 240 b ps 18.2% Adjusted EBITDA(1) $21.3 $15.4 38.4% $92.0 Adjusted EBI
Slide 10: Level-Setting RemainCo (Continuing Operations)
Level-Setting RemainCo (Continuing Operations) Full Year 2025 Basis ($ in millions, except per share amount) Packaging $ % of Sales Packaging 2026 Focus Areas Net Sales $535.5 • Streamline commercial and operational functions to reduce complexity and cost, unify brands, and further integrate prior a
Slide 11: Outlook
Outlook
Slide 12: Forward Expectations (from Continuing Operations)
Forward Expectations (from Continuing Operations) As of February 26, 2026 Full Year 2026 Outlook SALES GROWTH ADJUSTED OPERATING PROFIT 3% to 6% MARGIN IMPROVEMENT (2025: $645.7M) 300+ BPS (2025: 5.3%) 2026 Assumptions We plan on providing full year EPS guidance on the Q1 2026 earnings call Whil
Slide 13: The New TriMas
The New TriMas Enhanced Focus. Stronger Foundation. New Opportunity. Who We Are: Global provider of high-value dispensing, closure and life science solutions Deep technical expertise with long-standing customer partnerships Diversified end-market exposure that supports resilient demand Flexi
Slide 14: What's Next: Multiple Levers for Growth
What’s Next: Multiple Levers for Growth Revitalized Organization Focused on Driving Meaningful Shareholder Value Acquisition Growth New Product Innovation • Target strategic acquisitions aligned with high-growth, high- margin packaging and life sciences platforms • Accelerate customer-driven innovat
Slide 15: Q&A
Q&A
Slide 16: Appendix
— Appendix
Slide 17: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet December 31, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 30,020 $ 23,070 Receivables, net 111,270 115,590 Inventories 108,720 110,440 Prepaid expenses and other current assets 36,380 27,260 Current assets, held for sale 176,280 150,2
Slide 18: Consolidated Statement of Income
Consolidated Statement of Income Three months ended Twelve months ended December 31, December 31, 2025 2024 2025 2024 Net sales $ 155,490 $ 149,730 $ 645,720 $ 630,800 Cost of sales (122,580) (127,270) (507,560) (501,260) Gross profit 32,910 22,460 138,160 129,540 Selling, general and administrative
Slide 19: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Twelve months ended December 31, 2025 2024 Cash Flows from Operating Activities: Income (loss) from continuing operations 72,310 (1,950) Income from discontinued operations 47,830 26,200 Net income 120,140 24,250 Adjustments to reconcile net income to net cash pr
Slide 20: Company and Segment Financial Information
Company and Segment Financial Information Three months ended Twelve months ended December 31, December 31, 2025 2024 2025 2024 Adjusted operating profit, Total Company $ 20,170 $ 23,180 $ 106,690 $ 82,840 Three months ended Twelve months ended December 31, December 31, Corporate operating expenses (
Slide 21: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Reported GAAP Financial Measures – Total Company Three months ended Twelve months ended December 31, December 31, 2025 2024 2025 2024 Net Income, Total Company $ 81,700 $ 5,640 $ 120,140 $ 24,250 Special Items to consider in evaluating quality of net incom
Slide 22: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Reported GAAP Financial Measures - Continuing Operations Three months ended Twelve months ended December 31, December 31, 2025 2024 2025 2024 Income (loss) from continuing operations, as reported $ 72,850 $ (3,520) $ 72,310 $ (1,950) Special Items to consi
Slide 23: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Reported GAAP Financial Measures - Discontinued Operations Three months ended Twelve months ended December 31, December 31, 2025 2024 2025 2024 Income from discontinued operations, net of taxes $ 8,850 $ 9,160 $ 47,830 $ 26,200 Special Items to consider in
Slide 24: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended December 31, Total Company 2025 2024 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by operating activities $ 41,520 $ 6,520 $ 48,040 $ 27,080 $ 4,650 $ 31,730 Less: Capital expenditures (4,
Slide 25: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended December 31, December 31, Total Company 2025 2024 2025 2024 Net income, as reported $ 81,700 $ 5,640 $ 120,140 $ 24,250 Depreciation expense 9,940 18,180 39,710 48,120 Amortization expense 4,380 4,160 17,320 16,800 In