Materion Corporation · NYSE:MTRN

Materion — Q4 2025 Earnings Presentation

29 slides from Materion's earnings presentation, Feb 12, 2026

  1. Slide 1: Materion Corporation 4Q 2025 Earnings Presentation

    Materion Corporation 4Q 2025 Earnings Presentation February 12, 2026 © 2026 Materion Corporation

  2. 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

  3. 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

  4. Slide 4: Opening Remarks & Business Update

    Opening Remarks & Business Update Jugal Vijayvargiya President and Chief Executive Officer © 2026 Materion Corporation 4

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. Slide 12: Financial Review

    Financial Review Shelly Chadwick Vice President and Chief Financial Officer © 2026 Materion Corporation 12

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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 –

  21. 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

  22. Slide 22: Appendix

    Appendix © 2026 Materion Corporation 22

  23. 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

  24. 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

  25. 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

  26. 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

  27. 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

  28. 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

  29. 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

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