Npk International Inc. · NYSE:NPKI
Npk International — Q2 2026 Earnings Presentation
33 slides from Npk International's earnings presentation, Jul 30, 2026
Slide 1: July 2026 Investor Presentation
July 2026 Investor Presentation INVESTOR RELATIONS
Slide 2: Safe Harbor: Forward Looking Statements
Safe Harbor DISCLAIMERS CONFIDENTIAL 2 Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical facts are forward-looking statements. W
Slide 3: Business Overview
Business Overview CONFIDENTIAL 3
Slide 4: NPK: A Specialty Rental & Services Company Providing Worksite Access Solutions
4 NPK: A Specialty Rental & Services Company Providing Worksite Access Solutions To Power & Infrastructure Markets ABOUT NPK We are a worksite access solutions company that manufactures, sells, and rents recyclable composite matting products, along with a full suite of services, including planning,
Slide 5: The Original Composite Mat: DURA-BASE
5 The Original Composite Mat DURA-BASE® ADVANCED-COMPOSITE MAT SYSTEM Our flagship product, DURA-BASE®, solution made from 100% recyclable high-density polyethylene, was introduced in 1998 as the market’s first engineered thermoplastic worksite access matting. Today, with the largest composite fleet
Slide 6: Vertically Integrated Model Supports Specialty End-Markets
6 Vertically Integrated Model Supports Specialty End-Markets Products & Services • Introduced DURA-BASE® to the world over 25 years ago as the first 100% recyclable composite matting solution • Committed R&D, Project Technical Support team with industry-leading experience • Focus on reducing lifecyc
Slide 7: End-market Revenue Concentration
End-market Revenue Concentration Power Transmission Oil & Gas Other Power Transmission • Need for significant sustained investment driven by aging infrastructure, transmission congestion, grid hardening efforts, and renewable interconnect • Substantial electricity demand growth (U.S. manufacturing g
Slide 8: Significant Opportunity within Power Transmission Market
Significant Opportunity within Power Transmission Market Macroeconomic Tailwinds Driving Significant Investment in Transmission Grid Source: EEI Business Analytics Group (based on U.S. Investor-Owned Electric Utilities Investment proportions applied to 2016-2024 actual Capex and 2025-2028 projection
Slide 9: Material Conversion Opportunity
9 Material Conversion Opportunity Compelling Benefits vs Wood Products and Large Wood Market Share Provide Long-term Tailwind WoodComposite 2,200 – 2,800 ~1,000Weight (lbs) NoYes Designed to alleviate contaminant transport from job to job NoYesRecyclable No - broken boards, loose nails, flat tires Y
Slide 10: Our Specialty Rental Asset Generates ~35% IRR
10 Our Specialty Rental Asset Generates ~35% IRR Recyclable Comp osit e Mat ting Provid es For Long Useful R aw Mat eria l Life & Superior IRR -$2,000 $0 $2,000 $4,000 $6,000 $8,000 $10,000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 NPK Rental Mat Economic Case ~ 35% IRR Annual r
Slide 11: Recent Performance
Recent Performance CONFIDENTIAL 11
Slide 12: 2Q26 Performance Summary, 2026 Outlook
12 2Q26 Performance Summary, 2026 Outlook 2Q Reflects Disciplined Execution; Delivered 20% Revenue and 37% Adjusted EBITDA* Growth YoY Second Quarter 2026 Performance Summary Business Outlook (As of July 30, 2026) Strong customer demand for rental and related services 2Q26 revenues from specialty re
Slide 13: Performance Bridges 2Q25 vs. 2Q26 Adjusted EBITDA
CONFIDENTIAL 13 Performance Bridges 2Q25 vs. 2Q26 Adjusted EBITDA from Continuing Operations* $ in millions * Represents a non-GAAP financial measure. See reconciliation to the most comparable GAAP measure in “Non-GAAP Financial Measures” slides within this presentation. $19 $26
Slide 14: Strategic Focus: Fleet Optimization, Price Discipline, & Cost Controls
14 Strategic Focus: Fleet Optimization, Price Discipline, & Cost Controls Year-Over-Year Performance Revenue $ in millions Adjusted EBITDA* $ in millions Adjusted EBITDA Margin* Adjusted EBITDA as % of total revenue* * Represents a non-GAAP financial measure. See reconciliation to the most comparabl
Slide 15: Growth Rate Accelerated in 2025
15 Growth Rate Accelerated in 2025 Utilities sector primarily driving elevated grow th in both Rent al and Product Sales Services Revenue $ in millions Product Sale Revenue $ in millions Rental revenue accelerated in 2025, driven primarily by utilities sector Strategic shift toward longer-term renta
Slide 16: Full Year 2026 Financial Guidance
For the Full Year 2026, NPK Currently Anticipates the Following: Financial Guidance Current as of July 30, 2026 Consolidated Revenues in a range of Consolidated Adjusted EBITDA in a range of Net Capital Expenditures* in a range of $313-$323 million $97-$103 million $65-$80 million 16 * Includes $35-
Slide 17: Value Creation Roadmap
Value Creation Roadmap CONFIDENTIAL 17
Slide 18: Organic Growth Priorities and Acquisition Criteria
18 ✓ Geographic network expansion to service new growth territories ✓ Rental fleet growth to match growing customer demand ✓ Increasing revenue density and customer relevance in served markets Pursuing the highest-return, value-enhancing projects Our Organic Growth Priorities ✓ Expanding scale in si
Slide 19: Recent and Ongoing Operational Improvements
19 ✓ Divestitures of under-performing business units began in 2022 and culminated with sale of remaining Fluids Systems segment in 3Q24 ✓ Significant actions in 2023-2025 to streamline operational support, remove layers of management and simplify business support activities following Fluids Systems
Slide 20: Capital Allocation Priorities
20 ✓ Maintain modest leverage ✓ Organic investment to expand rental fleet, along with associated equipment ✓ Continually evaluate accretive inorganic growth opportunities to accelerate growth ✓ Return of capital via programmatic share repurchases; remaining authorization of $89 million at June 30, 2
Slide 21: Driving value creation through organic growth and margin expansion
21 Driving value creation through organic growth and margin expansion Delivered consistent growth in revenue and EBITDA from 2022-2Q26. Midpoint of forecasted FY2026 projection reflects 15% revenue and 32% Adjusted EBITDA* growth vs 2025. NPK’s long history provides identifiable competitive moats in
Slide 22: Appendix
Appendix CONFIDENTIAL 22
Slide 23: Management Biography
7/30/2026 23 Matthew joined NPK in April 2016 as President, Newpark Industrial Solutions, and was appointed as our Chief Executive Officer in March 2022. • From April 2014 to June 2015, Mr. Lanigan served as a Managing Director of Custom Fleet Services in Australia for GE Capital Corporation, a fina
Slide 24: Consolidated Statements of Operations (unaudited)
Consolidated Statements of Operations (unaudited) APPENDIX CONFIDENTIAL 24
Slide 25: Consolidated Balance Sheets (unaudited)
Consolidated Balance Sheets (unaudited) APPENDIX CONFIDENTIAL 25
Slide 26: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) APPENDIX CONFIDENTIAL 26
Slide 27: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 27
Slide 28: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 28
Slide 29: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 29
Slide 30: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 30
Slide 31: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 31 Consolidated (In thousands) 2023 2024 2025 2026 Income from continuing operations (GAAP) 14,149$ 35,599$ 35,945$ 39,133$ Gain on insurance recovery - (67) - - Gain on legal settlement - (550) - - Acquisition-related transaction costs -
Slide 32: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 32 Consolidated (In thousands) 2023 2024 2025 2026 Revenues 207,648$ 217,489$ 277,043$ 300,688$ Operating income from continuing operations (GAAP) 22,940$ 32,351$ 46,779$ 52,135$ Income from continuing operations (GAAP) 14,149$ 35,599$ 35
Slide 33: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 33 Consolidated (In thousands) 2023 2024 2025 2026 Net cash provided by (used in) operating activities (GAAP) 100,001$ 38,169$ 72,988$ 85,747$ Capital expenditures (29,232) (43,531) (46,671) (58,181) Proceeds from sale of property, plant