Slide 1: Clearfield Investor Presentation
NASDAQ:CLFD Clearfield Investor Presentation August 2026 1
Slide 2: Important Cautions Regarding Forward-Looking Statements
Important Cautions Regarding Forward-Looking Statements NASDAQ:CLFD Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “
Slide 3: Our Mission / What We Do
Our Mission NASDAQ:CLFD Enabling the lifestyle better broadband provides What We Do Clearfield provides fiber protection, fiber management and fiber delivery solutions that enable rapid and cost- effective fiber-fed deployment in communications networks and data centers 3
Slide 4: Why We Win
Why We Win NASDAQ:CLFD • Attractive Total Cost of Ownership through Reduced Installation Cost and Maintenance Time • Customer Testing Shows Clearfield’s FastPassTM Approach Cuts Install Time Required for Homes Passed by 50% • Singularly Focused on Serving the Fiber Market • Delivery of a Comprehensi
Slide 5: Product and Technology Across Markets
Product NASDAQ:CLFD and Technology Across Markets 5
Slide 6: Broadband Wireless Data Center
NASDAQ:CLFD Broadband Wireless Data Center
Slide 7: Our Scalable, Uniform & Cost-Effective Product Platform
Our Scalable, Uniform & Cost-Effective Product Platform NASDAQ:CLFD Fiber Management Fiber Protection & Delivery FieldSmart® Passive Architecture FieldSmart® Active Architecture Clearview® FieldShield® & YOURx® Passive panels, frames, cabinets, Fiber pathway and protection wall boxes, and pedestals
Slide 8: Modular and Scalable Products
Modular and Scalable Products NASDAQ:CLFD FieldSmart® CraftSmart® CraftSmart® Fiber CraftSmart® TetherSmart® Clearview® FiberFlex Active FiberFirst Pedestal Protection Vault Deploy Reel TAP Terminal and Cassette Cabinets Box Hardened Connectors 8
Slide 9: Clearfield NOVA High Density Panel
Clearfield NOVATM High Density Panel NASDAQ:CLFD • NOVATM makes fiber infrastructure simpler, smarter, and ready for tomorrow; whether building hyperscale data center, a co-location edge, or a high- demand enterprise network • Building on the legacy cassette, NOVATM Cassette is a modular, field-frie
Slide 10: Three Pillar Growth Strategy
Three Pillar Growth Strategy NASDAQ:CLFD Clearfield Will Use its Position as a Leading Provider of Fiber Distribution and Management Equipment in the Tier 2 and Tier 3 U.S. Broadband Service Provider Market for Continued Growth 10
Slide 11: Broadband Connectivity for Residential and Commercial Networks
Broadband Connectivity for Residential and Commercial Networks NASDAQ:CLFD • Clearfield’s field-proven platform delivers faster installs, lower labor costs, and predictable performance across residential and commercial broadband networks. • Trusted by municipalities, cooperatives, ISPs, Tribal Natio
Slide 12: Market Update - Broadband: 2025 Sets a New Record for Annual FTTH Growth
MARKET UPDATE - BROADBAND NASDAQ:CLFD 2025 Sets A New Record For The Highest Annual FTTH Growth Annual Homes-Marketed (All Years Ending Q3) 2025 FBA/RVA Provider Study 11.8M 98.3M Homes Passed by Cumulative Homes Network Operators Passed by Network in the Twelve Operators Year-To- Months Ending Date
Slide 13: Market Update: Broadband – Rural, Our Sweet Spot
MARKET UPDATE: BROADBAND – RURAL, OUR SWEET SPOT NASDAQ:CLFD Estimated Rural TAM of $6 Billion Over Ten Years Estimated Number of Passings by Household Category in Millions • Projected $50/HH passed (29.2 Million HHs) • Projected $250/HH connected 7.3 (40% take-rate) 8.8 • Estimated 8.8mn/HH with at
Slide 14: Broadband Connectivity: Customer Profile Hawaiian Telcom
Broadband Connectivity Customer Profile: Hawaii Telcom NASDAQ:CLFD • Our long-standing relationship with Hawaiian Telcom demonstrates Clearfield’s commitment to protecting and strengthening our core broadband market. • Hawaiian Telcom is working to make Hawaii the first fully fiber-enabled state, su
Slide 15: Fiber Connectivity Solutions for Next-Gen Wireless Networks
Fiber Connectivity Solutions for Next-Gen Wireless Networks NASDAQ:CLFD • Clearfield enables rapid, repeatable, and cost- effective deployments across 5G, Fixed Wireless Access (FWA), C-RAN, and O-RAN environments. • Our portfolio supports every segment of the wireless network from Metro Core to Cel
Slide 16: Market Update – Wireless
MARKET UPDATE – WIRELESS Infrastructure Investment Momentum Driving the Next Phase of 5G Growth U.S. Wireless Network Infrastructure Growth Forecast 2025-2030 $20B $13B 90 80 ~9% 70 U.S. Backhaul market U.S. Small Cell market by 2030 – 5G by 2030 – urban 60 densification drives densification and US$
Slide 17: Connectivity for Wireless Backhaul: Customer Profile Ziply Fiber
Connectivity for Wireless Backhaul NASDAQ:CLFD Customer Profile: Ziply Fiber • The modularity, scalability, and reliability that define our broadband leadership now enable us to connect data-intensive applications closer to the user. • Our powered cabinets and fiber-management platforms let service
Slide 18: Hyperscaler Capex Converts Into a ~$18B Fiber Related Market in 2026
Hyperscaler Capex Converts Into a ~$18B Fiber Related Market in 2026 NASDAQ:CLFD WHERE THE SPEND LANDS FIBER-RELATED SPEND SPLIT (2026E) Fiber Pathway / Raceway $0.5B $800B Total 2026E capex Termination, Splicing & Closures $1.3B $125K/MW of Clearfield Content Racks $2.2B on $22M Order Announced on
Slide 19: Multi-Year Revenue Runway to a 200+ GW AI Build-Out
Multi-Year Revenue Runway to a 200+ GW AI Build-Out NASDAQ:CLFD 2027 2028 2029 2030 2031 AI Training ~20 GW ~80 GW 200+ GW Hyperscaler Campus 1 GW+ Campus Initial Ramp Acceleration Peak Build-Out Inference Deployments Begin AI Inference Edge Infrastructure Pre-deployment Early Rollout Rapid Scale Ma
Slide 20: Financial Performance
Financial NASDAQ:CLFD Performance 20
Slide 21: Revenue and Gross Profit Trends
FINANCIAL PERFORMANCE NASDAQ:CLFD Revenue and Gross Profit Trends $ in millions 50 40% 45 $43.9 $41.1 $38.8 38% 40 35 $34.3 $34.4 35% 30 25 33% 20 30% 15 10 28% 5 0 25% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net Sales Gross Margin 21
Slide 22: Net Sales Comparison by Market
Net Sales Comparison by Market NASDAQ:CLFD Quarterly Net Sales1 FQ3 25 FQ3 26 $21 $19 $11 $9 $7 $8 $3 $2 $1 $1 International National Carrier Large Regional MSO/Cable TV Community Broadband All dollar figures in millions 1Based on net sales of $43.9 million for Clearfield and Point of Sales (POS) re
Slide 23: Q3 FY26 Net Sales Composition
Q3 FY26 Net Sales Composition Ended 6/30/261 NASDAQ:CLFD International (Europe, Canada, Mexico, Community and Caribbean Markets) National Carrier Broadband (Tier 1 Wireline and all Wireless (Tier 2&3, utilities, Markets) municipalities, and 2% 8% alternative carriers) 48% 25% Large Regional Service
Slide 24: Operating Expenses
FINANCIAL PERFORMANCE NASDAQ:CLFD Operating Expenses $ in millions Quarterly Operating Expenses 14.0 $13.3 $13.2 $13.2 45% $12.1 40% 12.0 $11.4 35% 10.0 30% 8.0 25% 6.0 20% 15% 4.0 10% 2.0 5% 0.0 0% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Operating Expenses $ Operating Expenses as a % of Net Sales 24
Slide 25: Net Income
FINANCIAL PERFORMANCE NASDAQ:CLFD Net Income $ in millions Quarterly Net Income (Loss) 3.5 $3.0 3 2.5 $2.3 2 $1.8 1.5 1 0.5 0 -0.5 $(0.3) $(0.5) -1 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26
Slide 26: Balance Sheet at June 30, 2026
FINANCIAL PERFORMANCE NASDAQ:CLFD Balance Sheet at June 30, 2026 • The Company’s balance sheet remains a significant competitive strength with $155.1 million in cash, short-term and long-term investments, and no debt. • The Company repurchased 31,000 shares for $897,000 during the 3-month period end
Slide 27: Third Quarter Fiscal Year 2026 Highlights
Third Quarter Fiscal Year 2026 Highlights NASDAQ:CLFD o Net sales from continuing operations of $43.9 million and net income per share from continuing operations of $0.22. o Received first significant order for $22 million to support a hyperscale data center project after the close of the quarter; e
Slide 28: Fiscal 2026 Financial Outlook
Fiscal 2026 Financial Outlook NASDAQ:CLFD Quarterly Net Sales Net Income (Loss) Per Share ($ in millions) ($) $38 to $42 $380 - $393 $41 $44 $0.22 $34 $34 $0.13 $0.00 to $0.07 $(0.02) $(0.04) Q4 25 Q1 26 Q2 26 Q4 25 Q1 26 Q3 26 Q4 26 Q2 26 Q3 26 Q4 Actual Actual Actual Actual Actual Actual Forecast
Slide 29: Executive Management Team
Executive Management Team NASDAQ:CLFD Cheri Beranek Daniel Herzog Johnny Hill Anis Khemakhem President & Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Commercial Officer • Co-founded Clearfield in 2008 • CFO of Clearfield since 2011 • Co-founded Clearfield in • CMO of
Slide 30: Company Contact / Investor Relations
NASDAQ:CLFD COMPANY CONTACT: Cheri Beranek President & CEO Clearfield, Inc. IR@seeclearfield.com INVESTOR RELATIONS: The Blueshirt Group Greg McNiff T: 773-485-7191 clearfield@blueshirtgroup.com 30