Materion Corporation · NYSE:MTRN
Materion — Q4 2025 Earnings Presentation
29 slides from Materion's earnings presentation, Feb 12, 2026
Slide 1: Materion Corporation 4Q 2025 Earnings Presentation
Materion Corporation 4Q 2025 Earnings Presentation February 12, 2026 © 2026 Materion Corporation
Slide 2: Agenda
Agenda Introduction Kyle Kelleher – Director, Investor Relations and Corporate FP&A Opening Remarks & Jugal Vijayvargiya – President and Chief Executive Officer Business Update Financial Shelly Chadwick – Vice President and Chief Financial Officer Review Q&A Question and Answer Session © 2026 Materi
Slide 3: Forward-looking Statements and Non-GAAP Financial Information
Forward-looking Statements and Non-GAAP Financial Information These slides contain (and the accompanying oral discussion will contain, where applicable) “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown
Slide 4: Opening Remarks & Business Update
Opening Remarks & Business Update Jugal Vijayvargiya President and Chief Executive Officer © 2026 Materion Corporation 4
Slide 5: Q4 2025 Highlights
Q4 2025 Highlights Accelerating Top-Line Growth and Performance Delivered Strong Results in Electronic Materials and Precision Optics Value-added (VA) sales of $253.9 million, up 7% organic* excluding precision clad strip ▪ Down 14% YoY organic* driven by lower precision clad strip sales related to
Slide 6: End Market Performance
End Market Performance Q4 2025 FY 2025 Market VA Sales vs. Q4 2024 Q4 Comments VA Sales vs. 2024 ▪ Driven by acceleration in AI applications and outgrowth with our Semiconductor $83.6 22% comprehensive portfolio $281.5 7% ▪ Strongest quarter since Q1 ‘23 Aerospace & ▪ Decrease driven by shipment tim
Slide 7: 2025 Financial Highlights
2025 Financial Highlights Operational Improvements and Accelerating Top-Line in Electronic Materials and Precision Optics Delivered Strong Results VA sales of $1.05 billion, up 4% organic* excluding precision clad strip ▪ Down 4% organic* driven by lower precision clad strip, partially offset by sem
Slide 8: 2025 Growth Highlights
2025 Growth Highlights New Business Wins and Improved Markets Leading to Strong Backlog Heading into 2026 Backlog at year-end up 7% vs 2024; 2nd half backlog up 12% vs 1st half ▪ Record new defense orders of ~$140M Defense ▪ Secured $65M customer investment from major defense prime to expand berylli
Slide 9: Global Defense Demand Drives Strong Growth Outlook
Global Defense Demand Drives Strong Growth Outlook Defense Market Trends Materion Impact ▪ Global defense spend hitting record levels in 2025 with over ▪ Surpassed $100M of defense sales in 2025 100 countries increasing budgets ▪ 10%+ CAGR since 2020 ▪ Continued increase in US defense spending; expe
Slide 10: 2026 End-Market Growth Outlook
2026 End-Market Growth Outlook Contraction (<0%) Low Single-Digit (0-3%) Mid/High Single-Digit (>3%) Automotive Industrial Aerospace Life Sciences Defense Consumer Electronics Semiconductor Energy Expect to outgrow underlying market projections © 2026 Materion Corporation 10
Slide 11: Looking Ahead to 2026
Looking Ahead to 2026 Expect to Build on 2025 Momentum and Deliver 15% Earnings Growth on Mid-Single Digit+ Sales Increase ▪ Continued improvement to incoming order rates and backlog expansion, supporting mid-single digit+ top-line growth ▪ Meaningful sales growth across several markets in Performan
Slide 12: Financial Review
Financial Review Shelly Chadwick Vice President and Chief Financial Officer © 2026 Materion Corporation 12
Slide 13: Q4 2025 Operating Performance
Q4 2025 Operating Performance Value-added Sales ($M) Adj. EBITDA ($M) Adj. EPS $296.1 $61.5 $1.55 $1.53 $253.9 $57.0 -14% -7% -1% 22.5% 20.8% Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Value-added sales were $253.9 million Adjusted EBITDA at $57.0 million, margin of 22.5% Adjusted EPS of $1.53
Slide 14: Q4 2025 Financial Comparison
Q4 2025 Financial Comparison Adjusted EBITDA of $57.0 million, or 22.5% of VA Sales ▪ Decrease driven by lower volume from precision clad strip ▪ Partially offset by higher volume, strong price/mix and performance in Electronic Materials and Precision Optics © 2026 Materion Corporation 14 See append
Slide 15: Performance Materials Segment
Performance Materials Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $132.4 million ▪ Decrease driven largely by lower precision clad strip $195.8 $53.6 volume and shipment timing ▪ Partially offset by strength in energy and telecom & -32% data center -33% $132.4 $35.8 Adjusted
Slide 16: Electronic Materials Segment
Electronic Materials Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $94.1 million, up 20% YoY $94.1 ▪ Driven by significant strength in Semiconductor, $22.0 strongest quarter since Q1 ’23 ▪ Increase driven largely by proliferation of AI with $78.6 continued growth in high-perfo
Slide 17: Precision Optics Segment
Precision Optics Segment Value-added Sales ($M) Adj. EBITDA ($M) Value-added sales of $27.4 million, up 26% YoY ▪ Third consecutive quarter of top-line improvement; strongest quarter since Q4 ‘22 $27.4 $4.3 ▪ Increase led by new business opportunities across $21.7 end markets +26% ++% 15.7% Adjusted
Slide 18: Full Year Operating Performance
Full Year Operating Performance Value-added Sales ($M) Adj. EBITDA ($M) Adj. EPS $1,097.6 $5.44 $1,046.2 $221.2 $217.0 $5.34 -5% -2% +2% 20.7% 20.2% 2024 2025 2024 2025 2024 2025 Value-added sales were $1.05 billion Adjusted EBITDA at $217.0 million, margin of 20.7% Adjusted EPS of $5.44 ▪ Excluding
Slide 19: Cash, Debt and Liquidity
Cash, Debt and Liquidity Leverage slightly below midpoint of target range ($M) Q4 2024 Q4 2025 of 1.5x – 3x Short-term Debt $34.3 $22.4 Approximately $224 million available on existing revolving credit facility Long-term Debt $407.7 $436.3 ▪ Adequate liquidity remains to support growth Total Debt $4
Slide 20: Full Year 2026 Guidance
Full Year 2026 Guidance Adj. EPS Guidance $6.00 - $6.50 $5.44 +15% 2026 Guidance ▪ Introducing full year adjusted EPS guidance of $6.00 - $6.50 ▪ Expect sequential improvement throughout the year 2025 2026E 2026 Modeling Assumptions Capital Expenditures $75M Interest Expense $28M Mine Development –
Slide 21: Invest in Materion as We Advance Our Strategy
Invest in Materion as We Advance Our Strategy Becoming a global leader in high-performing advanced materials serving diverse and attractive markets well aligned with megatrends Building robust pipeline with investments in R&D as we focus on developing innovative solutions for our customers Leveragin
Slide 22: Appendix
Appendix © 2026 Materion Corporation 22
Slide 23: Reconciliation for Value-added Sales
Reconciliation for Value-added Sales The cost of gold, silver, platinum, palladium, copper, ruthenium, iridium, rhodium, rhenium, and osmium is passed through to customers and, therefore, the trends and comparisons of net sales are affected by movements in the market price of these metals. The use o
Slide 24: Reconciliation for Non-GAAP Measures
Reconciliation for Non-GAAP Measures We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environmental rem
Slide 25: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 26: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 27: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 28: Reconciliation for Non-GAAP Measures (Cont.)
Reconciliation for Non-GAAP Measures (Cont.) We have adjusted the results for certain special items such as restructuring and cost reduction initiatives (including costs associated with temporarily idled facilities), Electronic Materials inventory adjustment, business transformation costs, environme
Slide 29: Materion enables what's next
Materion enables what’s next Materion Corporation +1 216.486.4200 http://www.materion.com Connect With Us © 2025 Materion Corporation