Slide 1: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation July 31, 2026 MSA Safety | Second Quarter 2026 Earnings Presentation 1
Slide 2: Introduction
Tyler Herzing Senior Manager, Investor Relations Introduction Industrial Safety Technology Company Driven by Our Mission: That men and women may work in safety and that they, their families, and their communities may live in health throughout the world. MSA Safety | Second Quarter 2026 Earnings Pres
Slide 3: Cautionary Statements Regarding Forward-looking Statements
Cautionary Statements Regarding Forward-looking Statements This presentation may contain (and verbal statements made by MSA® Safety Incorporated (“MSA Safety”) may contain) “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relat
Slide 4: Non-GAAP Financials
Non-GAAP Financials To supplement our Consolidated Financial Statements presented in accordance with generally accepted accounting principles (“GAAP”), we use, and this presentation includes, certain non-GAAP financial measures. These financial measures include organic sales change, adjusted operati
Slide 5: Business Update
Steve Blanco President and Chief Executive Officer Business Update Industrial Safety Technology Company Driven by Our Mission: That men and women may work in safety and that they, their families, and their communities may live in health throughout the world. MSA Safety | Second Quarter 2026 Earnings
Slide 6: 2Q 2026 Financial Performance
2Q 2026 Financial Performance Delivered Profitable Growth and Strong Free Cash Flow Key Metrics(1) 2Q 2026 Net Sales $503MM +6% Adjusted Operating Income $121MM +19% Adjusted Operating Margin 24.1% +270 bps Adjusted EPS $2.40 +24% Free Cash Flow $83MM +118% See appendix for definitions of non-GAAP m
Slide 7: 2Q 2026 Executive Summary
2Q 2026 Executive Summary Wait for QBU Progressing Our Strategic Objectives Accelerate Strategy Update Continued Leadership in Premium Safety Solutions Evident by Ongoing Market Adoption of V-Gard H2 Safety Helmet Targeted Growth Accelerator: Ongoing Momentum in MSA+ Connected Solutions Including th
Slide 8: Financial Performance and 2026 Outlook
Julie Beck Senior Vice President and Chief Financial Officer Financial Performance and 2026 Outlook Industrial Safety Technology Company Driven by Our Mission: That men and women may work in safety and that they, their families, and their communities may live in health throughout the world. MSA Safe
Slide 9: 2Q 2026 Financial Summary
2Q 2026 Financial Summary Double Digit Adjusted EPS Growth Driven by Increased Sales and Robust Margin Expansion Net Sales Adjusted Operating Adjusted EPS Income and Margin $503MM $2.40 $121MM $474MM $101MM 24.1% $1.93 21.4% 2Q 2025 2Q 2026 2Q 2025 2Q 2026 2Q 2025 2Q 2026 +6% REPORTED NET SALES GROW
Slide 10: 2Q 2026 Free Cash Flow and Financial Leverage
2Q 2026 Free Cash Flow and Financial Leverage Strong Free Cash Flow; Balance Sheet Remains Positioned to Fund Strategic Growth Investments Free Cash Flow Net Leverage $83MM 1.8x 1.1x 1.0x Pro Forma (1) $38MM 0.8x Actual 2Q 2025 2Q 2026 6/30/2025 6/30/2026 DISCIPLINED CAPITAL ALLOCATION AND CASH FLOW
Slide 11: 2026 Outlook
2026 Outlook Low-Double-Digit Total Revenue Growth Supported by Mid-Single-Digit Organic Growth, a Mid-Single-Digit Contribution from Acquisitions and a Low-Single-Digit Tailwind from FX % NET SALES(1) DIVERSE END MARKETS OPERATING ENVIRONMENT UPDATE DETECTION • Energy & chemical TAILWINDS • Fixed g
Slide 12: Closing Remarks
Steve Blanco President and Chief Executive Officer Closing Remarks Industrial Safety Technology Company Driven by Our Mission: That men and women may work in safety and that they, their families, and their communities may live in health throughout the world. MSA Safety | Second Quarter 2026 Earnings
Slide 13: 2Q 2026 Key Takeaways
2Q 2026 Key Takeaways Executing Accelerate Strategy to Create Stakeholder Value Delivered profitable sales growth, robust margin 1 expansion, double-digit adjusted EPS growth and strong free cash flow generation Strong financial profile provides balanced capital 2 deployment optionality, including g
Slide 14: Q&A
Q&A MSA Safety | Second Quarter 2026 Earnings Presentation 14
Slide 15: Appendix
Appendix MSA Safety | Second Quarter 2026 Earnings Presentation 15
Slide 16: Trailing Twelve-Month Snapshot
MSA Safety (NYSE: MSA) | Trailing Twelve-Month Snapshot $1.9B Net Sales (1) Net Sales by Net Sales by Segment(1) Product Category(1,3) 4.3% R&D Investment (1,2) 32% 40% 34% International Detection Fire Service 47.6% Gross Profit Margin (1) 23.0% Adj. Operating Margin (1) 0.8x Net Leverage (1) 56 Con
Slide 17: Accelerate Strategy
MSA Safety | Accelerate Strategy CONTINUE TO BE THE IMPLEMENT APPLY MSA BUSINESS ALLOCATE LEADER IN PREMIUM TARGETED GROWTH SYSTEM TO ENABLE CAPITAL SAFETY SOLUTIONS ACCELERATORS EXCELLENCE EFFECTIVELY • Leverage scale, market leadership, • Continue to evolve from hardware • Drive excellence in pric
Slide 18: Business System (MBS)
MSA Safety | Business System (MBS) BEHAVIORS The way we act and react to changes and challenges • Relentless focus on improving our performance on new product development, SG&A, project management, and global business service PROCESSES How we work with others and apply tools • Working Capital: SIOP(
Slide 19: 2028 Financial Targets
MSA Safety | 2028 Financial Targets MISSION-DRIVEN REINVESTMENT • 3 – 5% organic revenue growth Resilient Organic • Market growth, customer-centric innovation, and commercial + Revenue Growth $2.1B – $2.3B excellence • Macro secular safety trends • Target 30 – 50 bps annually Operating Margin(1) + E
Slide 20: Autronica: Transaction Summary
Autronica: Transaction Summary Accelerates Detection Growth; Adds Scaled Fire and Gas Systems Capabilities • Transaction valued at ~$555 million Valuation • ~17x 2025 adjusted EBITDA multiple, ~13x with run-rate synergies + • 2025 sales of ~$160 million, ~20% adjusted EBITDA margin Financial Strateg
Slide 21: Autronica: A Leader in Fire & Gas Detection & Alarm Systems
Autronica: A Leader in Fire & Gas Detection & Alarm Systems Highly Complementary Portfolio Fit, Strategically Aligned with MSA’s Mission, Vision and Values Business Overview Life Safety • Established fire and gas safety solutions provider founded in 1957, High reliability, low false-alarm rates and
Slide 22: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures MSA Safety | Second Quarter 2026 Earnings Presentation 22
Slide 23: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Organic Sales Change (Unaudited) Consolidated Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 Detection(a) Fire Service(b) Industrial PPE Net Sales Detection(a) Fire Service(b) Industrial PPE Net Sales and Other(c) and Other(c) GAAP repor
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Gross Profit and Margin (Unaudited) Three Months Ended June 30, 2026 Gross profit 249,291 Acquisition related amortization 3,377 Adjusted gross profit 252,668 Net sales 503,327 Gross profit margin 49.5 % Acquisition related amortization as a per
Slide 25: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Operating Income and Adjusted EBITDA (Unaudited) Trailing Twelve Months Twelve Months Ended (In Thousands) Three Months Ended June 30, Six months ended June 30, Ended June 30 December 31, 2026 2025 2026 2025 2026 2025 Adjusted EBITDA from report
Slide 26: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Free Cash Flow (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cash flow from operating activities 95,376 67,218 171,063 129,051 Capital expenditures (12,673) (29,334) (23,260) (40,118) Free cash flow 82,703 37,884 1
Slide 27: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Earnings and Adjusted Earnings per Diluted Share (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 % Change 2026 2025 % Change Net income $ 86,194 $ 62,773 37% $ 157,463 $ 122,378 29% Currency exchange losses, net 1,896
Slide 28: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Debt to Adjusted EBITDA and Net Debt to Adjusted EBITDA (Unaudited) Twelve Months Ended June 30, 2026 Pro Forma Adjustment (b) 6/30/2026 Pro Forma Operating income $ 413,168 $ 413,168 Depreciation and amortization 59,738 59,738 Currency exchange losses,
Slide 29: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures R&D Investment (Unaudited) Trailing Twelve Months Twelve Months Ended Six Months Ended June 30, Ended June 30, December 31, 2026 2025 2026 2025 Research and development expense $ 35,509 $ 32,665 $ 68,187 $ 65,343 Capitalized software development costs 7,
Slide 30: MSA Safety | Second Quarter 2026 Earnings Presentation
MSA Safety | Second Quarter 2026 Earnings Presentation 30