Slide 1: Investor Presentation March 2023
March 2023 Investor Presentation 1 Investor Presentation March 2023
Slide 2: Forward Looking Statements
March 2023 Investor Presentation 2 FORWARD LOOKING STATEMENTS This presentation contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigat
Slide 3: FY '22 Highlights: Patrick at a Glance
March 2023 Investor Presentation 3 FY ’22 Highlights Team members 11,000 Years of Success 64 Facilities 250+ FY ’22 Revenue $4.9B Pro Forma Adjusted EBITDA $674M2 Free Cash Flow $332M2 Pro Forma Liquidity $538M3 Total Net Leverage 1.9x4 Strong portfolio unifies historically fragmented landscape Inve
Slide 4: Leadership with Deep Industry Experience
March 2023 Investor Presentation 4 LEADERSHIP WITH DEEP INDUSTRY EXPERIENCE Andy Nemeth CEO Jeff Rodino President Jake Petkovich CFO Kip Ellis COO 31 years Industry experience 29 years Industry experience 27 years Industry experience 26 years Industry experience 100+ years of industry experience s
Slide 5: Fulfilling customers' visions of home interiors & exteriors
March 2023 Investor Presentation 5 Fulfilling customers’ visions of home interiors & exteriors Nationwide manufacturing and distribution footprint allows Patrick to provide products across our customers domestic operations more efficiently than many competitors Aligned with long-term secular g
Slide 6: Our Story
March 2023 Investor Presentation 6 $308 $437 $595 $736 $920 $1,222 $1,636 $2,263 $2,337 $2,487 $4,078 $4,882 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 LTM $8 $28 $24 $31 $42 $56 $86 $120 $90 $97 $225 $328 $21 $37 $53 $71 $106 $122 $200 $280 $250 $326 $531 $674 $0.37 $1.17 $0.99 $1.27 $1
Slide 7: Net Sales Grew by $3.3 Billion in Five Years
March 2023 Investor Presentation 7 53% 21% 15% 11% RV Marine MH Industrial$4.9B Net Sales Grew by $3.3 Billion in Five Years $1.6B Evolution of PATK Portfolio Broadening our Portfolio (Net Sales Composition as %) FY 2022 Growing Marine Market Penetration Impressive Net Sales and Margin Growth (2017-
Slide 8: Nimble Model with Strategies for Any Economic Environment
March 2023 Investor Presentation 8 NIMBLE MODEL WITH STRATEGIES FOR ANY ECONOMIC ENVIRONMENT Patrick’s Flexible Business Model Highly variable cost structure Flexible manufacturing processes Demonstrated ability to adjust output and cost structure in real-time to changes in demand Successful
Slide 9: Marine
March 2023 Investor Presentation 9 MARINE TTM Marine Net Sales ($M) TTM Content Per Unit MARINE arket Insights Supply chain relief improving depleted dealer inventories headed into spring selling season Growing aftermarket presence Key Customers Prioritization Building relationships and product
Slide 10: RV
March 2023 Investor Presentation 10 MARINE RV arket Insights Key Customers Prioritization Future Outlook Young and Diverse groups purchasing RVs Expecting a return to normal seasonal patterns Disciplined OEM production provides long-term market health Providing consistent and innovative compon
Slide 11: Marine and RV Industry Shipments
March 2023 Investor Presentation 11 493,300 Leisure Lifestyle Retail Wholesale 237,700 FY 2020 163,700 1 National Marine Manufacturers Association/ Statistical Surveys Inc. (SSI)/Company Estimates 2 RV Industry Association/SSI/Company Estimates FY 2021 Marine Industry Shipments1 RV Industry Shipment
Slide 12: Housing & Industrial: Key Highlights
March 2023 Investor Presentation 12 Key Highlights Limited housing inventory supports long-term growth of our housing-related businesses Rising interest rates tempering demand for single-family housing Capital deployment to support capacity expansion and new product development to enhance orga
Slide 13: Manufactured Housing
March 2023 Investor Presentation 13 MARINE Manufactured Housing arket Insights Key Customers Prioritization Future Outlook TTM MH Net Sales ($M) MH offers an alternative solution to our country’s affordable housing shortage MH pricing continues to be attractive relative to elevated traditional h
Slide 14: Industrial
March 2023 Investor Presentation 14 MARINE Industrial arket Insights Key Customers Prioritization Future Outlook TTM Industrial Net Sales ($M) DIY and home remodels continue, with heightened interest in remodels for indoor/outdoor spaces Housing inventory supports long-term demand for residentia
Slide 15: Strong Liquidity Profile
March 2023 Investor Presentation 15 STRONG LIQUIDITY PROFILE Pro Forma Liquidity3 ($M) Total Revolver Credit Capacity $775.0 Less: Total Revolver Used3 (including outstanding letters of credit) (259.9) Unused Credit Capacity 515.1 Add: Cash on Hand4 22.8 Total Available Liquidity $537.9 Highlights4
Slide 16: Historical Capital Allocation
March 2023 Investor Presentation 16 Historical Capital Allocation $ in millionsDeploy strong cash flows to highest value projects Maintain a disciplined leverage position Utilize capital resources to grow and reinvest Dividend growth and opportunistic share buybacks $252 $343 $56 $306 $508 $249 $0 $
Slide 17: M&A Criteria and Filters for Successful Strategic Investments
March 2023 Investor Presentation 17 Strong Leadership Team and Cultural Fit Executable Revenue Synergies Geographic / Market Expansion Market Leadership EPS Accretion in First Full Year ROIC > Cost of Capital Accretive to Profit Margins Strategic Criteria Key Market Category Financial Filters Strong
Slide 18: Growth Engine
March 2023 Investor Presentation 18 Cross-pollinate sales across customers and market sectors Leading market position in key product categories Favorable demographics support long-term growth across all end markets Improves our ability to support customers with regionally diverse operations New prod
Slide 19: ESG: We Hit Major Milestones in 2022
March 2023 Investor Presentation 19 ESG: WE HIT MAJOR MILESTONES IN 2022 Published our inaugural 2022 Responsibility and Sustainability Report Governance Environmental Social We are developing our data collection and reporting framework for Patrick’s operations and sustainable practices with transpa
Slide 20: Appendix
March 2023 Investor Presentation 20 Appendix
Slide 21: Non-GAAP Reconciliations
March 2023 Investor Presentation 21 NON-GAAP RECONCILIATIONS Reconciliation of Net Income to Pro Forma Adj. EBITDA Net Sales $1,636 $2,263 $2,337 $2,487 $4,078 $4,882 Proforma Adj. EBITDA Margin (%) 12.2% 12.4% 10.7% 13.1% 13.0% 13.8% Fiscal Year Ended December 31, 2017 2018 2019 2020 2021 2022 Net
Slide 22: End Market Categories
March 2023 Investor Presentation 22 END MARKET CATEGORIES Single-Section Homes Multi-Section Homes ASP: $72,600 | 42% of Market ASP: $132,000 | 58% of Market TOWABLE Shipments: 91% Wholesale | 68% Retail Value MOTORIZED Shipments: 9% Wholesale | 32% Retail Value Travel Trailer | ASP: $28,300 Fifth W
Slide 23: Key Product Categories
March 2023 Investor Presentation 23 KEY PRODUCT CATEGORIES Fiberglass and Plastic Thermoformed Helm Systems Wiring and Wire Harnesses Electrical Systems and Components Fabricated Aluminum and Steel Components Boat Covers, Towers, Tops and Frames Anchoring, Docking and Boarding Vinyl and Paper Lamina
Slide 24: Patrick Product Lines: RV Exterior
March 2023 Investor Presentation 24 PATRICK PRODUCT LINES: RV EXTERIOR Additional Supplied Products Softwoods Full Body Paint Aluminum Gauges Steel Gauges Mill Finish & Pre-painted Aluminum and Steel Slit & Embossed Steel FRP Coil & Sheet Trim Panels Fuel Systems Metal Extrusions
Slide 25: Patrick Product Lines: RV Interior
March 2023 Investor Presentation 25 PATRICK PRODUCT LINES: RV INTERIOR Additional Supplied Products Exit Lighting Power Cords & Inlets RV Tank Heater Pads Fire Extinguishers Electric Fireplaces Wiring, Electrical & Plumbing Inverters Tire Pressure Monitors Electrical Switches, Rece
Slide 26: Patrick Product Lines: Marine
March 2023 Investor Presentation 26 PATRICK PRODUCT LINES: MARINE Additional Supplied Products Softwoods Full Body Paint Aluminum Gauges Steel Gauges Mill Finish & Pre-painted Aluminum and Steel Slit & Embossed Steel FRP Coil & Sheet Trim Panels Fuel Systems Metal Extrusions Alum
Slide 27: Patrick Product Lines: Manufactured Housing
March 2023 Investor Presentation 27 PATRICK PRODUCT LINES: MANUFACTURED HOUSING Additional Supplied Products Softwoods Full Body Paint Aluminum Gauges Steel Gauges Mill Finish & Pre-painted Aluminum and Steel Slit & Embossed Steel FRP Coil & Sheet Trim Panels Fuel Systems Metal E
Slide 28: www.patrickind.com
March 2023 Investor Presentation 28 www.patrickind.com