Slide 1: Fiscal 2021 Third Quarter Financial Results
Fiscal 2021 Third Quarter Financial Results DECEMBER 7, 2021
Slide 2: Cautionary Statements
© Core & Main All Rights Reserved. Confidential and Proprietary Information. CAUTIONARY STATEMENTS 2 Cautionary Note Regarding Forward-Looking Statements This presentation and accompanying discussion may include “forward-looking statements” within the meaning of the Private Securities Litigation Ref
Slide 3: Today's Presenters
© Core & Main All Rights Reserved. Confidential and Proprietary Information. TODAY’S PRESENTERS 3 000 Steve LeClair Chief Executive Officer Mark Witkowski Chief Financial Officer Robyn Bradbury VP, Investor Relations and FP&A
Slide 4: Agenda
© Core & Main All Rights Reserved. Confidential and Proprietary Information. 4 1 Company Overview & Business Update 2 Financial Highlights 3 Q&A and Closing Remarks
Slide 5: Company Overview
© Core & Main All Rights Reserved. Confidential and Proprietary Information. 45% 37% 18% Municipal Construction Non-Residential Construction Residential Construction 55% 45% Repair & Replace New Construction COMPANY OVERVIEW 5 Key Business Highlights(1) Branch Footprint(3) End Markets(1) ▪ A leading
Slide 6: Third Quarter Execution Highlights
© Core & Main All Rights Reserved. Confidential and Proprietary Information. THIRD QUARTER EXECUTION HIGHLIGHTS 6 ✓ Delivered record net sales of over $1.4 billion, representing 39% growth compared with the prior year period ✓ Net income increased 406% compared with the prior year period to $109 mil
Slide 7: Infrastructure Investment and Jobs Act
© Core & Main All Rights Reserved. Confidential and Proprietary Information. INFRASTRUCTURE INVESTMENT AND JOBS ACT 7 On November 15, 2021, the “Infrastructure Investment and Jobs Act” was signed into law, a once-in-a-generation infrastructure bill that makes transformational investments in U.S. inf
Slide 8: Agenda
© Core & Main All Rights Reserved. Confidential and Proprietary Information. 8 1 Company Overview & Business Update 2 Financial Highlights 3 Q&A and Closing Remarks
Slide 9: Third Quarter Operating Results
© Core & Main All Rights Reserved. Confidential and Proprietary Information. $21 $105 Q3'20 Q3'21 $103 $189 Q3'20 Q3'21 $1,013 $1,405 Q3'20 Q3'21 THIRD QUARTER OPERATING RESULTS 9 Net Sales Gross Profit Adjusted Net Income(1) Adjusted EBITDA(1) (1) Adjusted Net Income, Adjusted EBITDA and Adjusted E
Slide 10: Net Debt Leverage & Liquidity
© Core & Main All Rights Reserved. Confidential and Proprietary Information. Liquidity(2)Net Debt & Net Debt Leverage(1) NET DEBT LEVERAGE & LIQUIDITY 10 (1) Net debt leverage represents gross consolidated debt net of cash & cash equivalents divided by Adjusted EBITDA for the last twelve months, whi
Slide 11: FY21 Outlook
© Core & Main All Rights Reserved. Confidential and Proprietary Information. FY21 OUTLOOK 11 ✓ Volume and pricing trends expected to remain strong in the fourth quarter – End market demand continues to grow, supported by healthy backlog and bidding activity – Supplier capacity and product availabili
Slide 12: Agenda
© Core & Main All Rights Reserved. Confidential and Proprietary Information. 12 1 Company Overview & Business Update 2 Financial Highlights 3 Q&A and Closing Remarks
Slide 13: Why Core & Main
© Core & Main All Rights Reserved. Confidential and Proprietary Information. WHY CORE & MAIN 13
Slide 14: Appendix
© Core & Main All Rights Reserved. Confidential and Proprietary Information. APPENDIX 14
Slide 15: Product & Service Offering
© Core & Main All Rights Reserved. Confidential and Proprietary Information. PRODUCT & SERVICE OFFERING 15
Slide 16: Multiple Growth Drivers
© Core & Main All Rights Reserved. Confidential and Proprietary Information. MULTIPLE GROWTH DRIVERS 16 Multiple Levers To Drive Profitable Growth And Generate Shareholder Value ✓ Strong underlying market fundamentals ✓ Grow share locally ✓ Underpenetrated markets and product categories ✓ Accelerate
Slide 17: Track Record of Acquisitions
© Core & Main All Rights Reserved. Confidential and Proprietary Information. TRACK RECORD OF ACQUISITIONS 17 Organic Growth Why We Succeed Acquisition Focus Acquirer of Choice ✓ Reputation in the industry ✓ Entrepreneurial culture ✓ Investment in our people ✓ Consolidate existing market positions ✓
Slide 18: Reconciliation of Non-GAAP Measures: Adjusted EBITDA
© Core & Main All Rights Reserved. Confidential and Proprietary Information. Q3'21 Q3'20 Q3'21 Q3'20 Q3'21 Q2'21 Q1'21 Net income attributable to Core & Main, Inc. $64.4 $118.3 $119.1 $76.3 Plus: net income (loss) attributable to non-controlling interests 44.9 27.9 27.9 (17.0) Net income $109.3 $21.
Slide 19: Reconciliation of Non-GAAP Measures: Adjusted Net Income
© Core & Main All Rights Reserved. Confidential and Proprietary Information. Q3'21 Q3'20 Q3'21 Q3'20 Net income attributable to Core & Main, Inc. $64.4 $118.3 Plus: net income (loss) attributable to non-controlling interests 44.9 27.9 Net Income 109.3 $21.6 146.2 $36.5 Pro forma income tax provision
Slide 20: Reconciliation of Non-GAAP Measures: Net Debt Leverage
© Core & Main All Rights Reserved. Confidential and Proprietary Information. RECONCILIATION OF NON-GAAP MEASURES 20 Net Debt Leverage Q3'21 Q2'21 Q1'21 Senior Term Loan due August 2024 - - 1,257.8 Senior Notes due September 2024 - - 300.0 Senior Notes due August 2025 - - 750.0 ABL Credit Facility du