Smith-midland Corporation · NASDAQ:SMID
Smith-midland — Investor Presentation (November 2023)
15 slides from Smith-midland's investor presentation, Nov 22, 2023
Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: SMID NOVEMBER 2023
Slide 2: Smith-Midland at a Glance
Smith-Midland at a Glance Founded SMID 1960 (Nasdaq) Headquartered in Midland, Virginia $24.50 $130M Share Price* Market Cap sasor vitae LEADER INNOVATIVE THREE $57.7M $6O.2M —irrasructureProwuctsconstuston Building ——Senvcing NY FL Revenue (TTM) Backlog Products ‘smithmidiand.com | Investor Present
Slide 3: Proprietary Products
Proprietary Products JJ-Hooks® Highway Barriers Easi-Set® Concrete Bull smithmidland,com | Investor Presentation _— SlenderWall® Cladding System SoftSound® Absorptive Noise Wall November 2023
Slide 4: Customized Products
Customized Products ‘smithmidiand.com | Investor Presentation, November 2023 6
Slide 5: Strategically Located Manufacturing Plants
Strategically Located Manufacturing Plants VIRGINIA (Midland) NORTH CAROLINA (Reidsville) SOUTH CAROLINA (Columbia) smithmidland,com | Investor Presentation 45 acres, 59K sf Teaches NY to NC/WV 46 acres, 15K sf reaches NC to TN/KY *New in 2020, double capacity from prior plant 39 acres, 29K sf Teach
Slide 6: Concrete Safety Barrier Rental Division
Concrete Safety Barrier Rental Division 520K linear feet fleet Expansion to 575K linear feet by end of 2023 Estimated cost $5 million ‘smithmidiand.com | Investor Presentation, Shift to vs sales Higher margins of revenues of earnings and income cash-flow cycle November 2023
Slide 7: Expanded Geographic Reach through Licensing
Expanded Geographic Reach through Licensing Pe maiperotics velo WH easser suis TE cone 70+ A " Licenses Belgium AP \ New Zealand Award-Winning Products 6% Royalty Trinidad & Tobago eo United states # Australia SMITH-MIDLAND ‘smithmidiand.com | Investor Presentation, November 2023
Slide 8: Infrastructure Spend Tailwinds Benefit Smith-Midland
Infrastructure Spend Tailwinds Benefit Smith-Midland * New MASH TL3 standard i] ° All U.S. highway barrier mandated . ’ 2 - replacement over the next 5-7 years « J-J Hooks® approved in California for the first time in Company history — 24 most highway miles in U.S. + Accelerated spend through Public
Slide 9: Trends Favoring Off-Site Precast Modular Construction
Trends Favoring Off-Site Precast Modular Construction * Macro trend to off-site modular construction * Shortened lead times » Reduced subcontractors ¢ Minimization of carrying costs «Increased quality * Speed of installation ¢ Aging construction workforce * Developer saves Time & Money ‘smithmidiand
Slide 10: Annual Revenue, Backlog
Annual Revenue, Backlog $58.0 $53.0 2 € $48.0 $43.0 $38.0 REVENUE (in millions) $57.7 $50.6 —¢504 $46.7 $43.9 2019 2020 2021 2022 TTM3023 ‘smithmidiand.com | Investor Presentation, $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 $30.9 2019 BACKLOG (in millions) $60.2 $52.4 $29.0 $196 | 2020 2021 2022
Slide 11: Investment Highlights
Investment Highlights Leading precast concrete manufacturer Patented products include J-J Hooks® and EASI-SET® Strategic shift to barrier rental model Higher margin, favorable cash flow model Macro-economic tallwind from increased Infrastructure spending Transportation and commercial construction ‘s
Slide 12: Contact
540-439-3266 investors@smithmidland.com www.SmithMidland.com
Slide 13: Earnings per Share & EBITDA
Earnings per Share & EBITDA Earnings per Share EBITDA 16 (in millions) $1.45, 14 14 11.9 12 a2 82. 1 10 8 08 $6.4 6 06 $0.51 $44 ayy 04 $0.38 4 $3.4 5 a = © 2019 2020 2021 2022 TTM 3Q23 2019 2020 2021 2022 TTM 3023 ‘smithmidiand.com | Investor Presentation, November 2023 45
Slide 14: Balance Sheet
Balance Sheet ‘September 30, Keer Ay December 31, (Unaudited) 2022 Current assets Cash $ 5,849 $ 6,726 Other current assets 24,044 22,214 Total current assets 29,893 28,940 Property and equipment, net 2A12 25,124 Other assets 349 249 Total assets $ 57,654 $ 54,313 LIABILITIES AND STOCKHOLDERS’ EQUIT
Slide 15: Income Statement
Income Statement — 2022 © 202120202019 Product sales $27,821 $28,500 $26,776 $32,228 Barrier rentals 6545 9.925 6.879 2.488 Royalty income 2498 2.216 = 1,688 1,672 Shipping and installation revenue 3267 10.001 8519 10.303 Total revenue 60,131 60,642 43,862 «46,691 Cost of goods sold 40,662 36.222 32
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