Slide 1: Investor Presentation
INVESTOR PRESENTATION www.nwpx.com JULY 2024 August 2025
Slide 2: Legal Statements: Forward Looking Statements, Non-GAAP Measures
INVESTOR PRESENTATION | 2 LEGAL STATEMENTS FORWARD LOOKING STATEMENTS Statements in this presentation contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on
Slide 3: About NWPX
INVESTOR PRESENTATION | 3 Widely-recognized reputation for quality, service, and ABOUT Founded in manufacturing capabilities NWPX 1966 13 locations: strategically Headquartered in placed manufacturing facilities Vancouver, WA with 12 in the U.S. and one in Mexico Positioned to meet North America's g
Slide 4: Re-brand to NWPX Infrastructure, Inc.
INVESTOR PRESENTATION | 4 RE-BRAND TO NWPX INFRASTRUCTURE, INC. • New name highlights significant growth potential in water infrastructure and removes geographic and product boundaries • Honors the Northwest Pipe Company legacy while reinforcing dedication to enhancing shareholder value by using our
Slide 5: Strategic Footprint with Customer Access Across the U.S.
INVESTOR PRESENTATION | 5 STRATEGIC FOOTPRINT WITH CUSTOMER ACCESS ACROSS THE U.S. CORPORATE HEADQUARTERS WATER TRANSMISSION SYSTEMS PLANTS PRECAST INFRASTRUCTURE AND ENGINEERED SYSTEMS PLANTS
Slide 6: Wide-Ranging Product Capabilities
INVESTOR PRESENTATION | 6 WHAT WE DO WIDE-RANGING PRODUCT CAPABILITIES PRECAST CONCRETE ENVIRONMENTAL & RCP PIPE SOLUTIONS & UTILITIES TRENCHLESS PIPE ENGINEERED STEEL PIPE WATER TRANSMISSION SYSTEMS PRECAST INFRASTRUCTURE & ENGINEERED SYSTEMS
Slide 7: Water Infrastructure for Thriving Communities
WATER INFRASTRUCTURE INVESTOR PRESENTATION | 7 FOR THRIVING COMMUNITIES Note: See following slide for a more comprehensive description of our featured products.
Slide 8: Featured Products
INVESTOR PRESENTATION | 8 FEATURED PRODUCTS A. Elevator Sump System | ParkUSA K. Solids Interceptor | ParkUSA Oil-water separator, and control panel with alarm. Captures solid waste before entering sewer or B. Water Meters | ParkUSA stormwater systems Measures and safeguards the flow of water in L.
Slide 9: Demand Drivers
INVESTOR PRESENTATION | 9 WHY WE DO WHAT WE DO DEMAND DRIVERS Aging water and wastewater systems Increasingly stringent regulatory policies • Existing infrastructure needs upgrades, repairs, and replacements • Increased public awareness of problems with the quality of drinking • Underinvestment in p
Slide 10: Large Addressable Market Opportunity
INVESTOR PRESENTATION | 10 LARGE WATER TRANSMISSION SYSTEMS ADDRESSABLE Addressable Market NWPX’s Share: MARKET NWPX's Share $338 M (~52%) OPPORTUNITY TOTAL ADDRESSABLE MARKET $450 - $650 M PRECAST INFRASTRUCTURE and ENGINEERED SYSTEMS NWPX’s Share: Addressable Market NWPX's Share $155 M (~1%) TOTAL
Slide 11: Water Transmission Systems
INVESTOR PRESENTATION | 11 WATER TRANSMISSION • Manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which SYSTEMS are primarily related to drinking water systems • Products also used for hydroelectric power systems, WELL-POISED INDUSTRY LEA
Slide 12: Favorable WTS Market Dynamics
INVESTOR PRESENTATION | 12 FAVORABLE WTS MARKET DYNAMICS US $43.6 B APPROPRIATIONS: Congressionally authorized and approved spending for specific purposes, such as the federal capitalization grants to the SRF programs. US $23.2 B ALLOTMENTS: Portion of appropriated IIJA SRF funding that the EPA divi
Slide 13: Precast Infrastructure & Engineered Systems Segment
INVESTOR PRESENTATION | 13 PRECAST High-quality precast and reinforced concrete products INFRASTRUCTURE & typically used in non-pressure conveyance as well as wastewater pretreatment, stormwater quality, and water ENGINEERED SYSTEMS distribution and management. SEGMENT Precast Infrastructure and Eng
Slide 14: Leader of Innovation in Water Infrastructure
INVESTOR PRESENTATION | 14 RADIAL BENDING JOINT COMPOSITE FRP PANELS A first of its kind for the industry, this patent- Made for maintenance-free corrosion pending Permalok® joint enables steel pipe to protection, these panels can be made be installed along a curved radius in in any size and extend
Slide 15: Growth Strategy
INVESTOR PRESENTATION | 15 Create transformational growth and GROWTH profitability to drive shareholder value STRATEGY through organic growth “Product Spread” and acquisitions PRECAST INFRASTRUCTURE & ENGINEERED ACQUISITION STRATEGY: SYSTEMS PRODUCT SPREAD STRATEGY: Produce and ship ParkUSA products
Slide 16: Capital Allocation Strategy
INVESTOR PRESENTATION | 16 CAPITAL ALLOCATION STRATEGY Use of Cash Priorities ORGANIC GROWTH ACCRETIVE ACQUISITIONS • Evaluating potential M&A in the precast-related market • Prioritizing organic growth through Product Spread strategy with the goal of Precast becoming the same size as the for ParkUS
Slide 17: Demand Drives Strong Performance
INVESTOR PRESENTATION | 17 DEMAND DRIVES STRONG PERFORMANCE Backlog1 and Order Book2 Maintained strong WTS Revenue Grew WTS revenues by over 2.5x since ($ Millions) backlog and Precast order ($ Millions) 2017 and more than tripled the size of the book in 2024 Company with the addition of Precast $37
Slide 18: Q2 2025 Highlights
INVESTOR PRESENTATION | 18 Q2 2025 HIGHLIGHTS Backlog including confirmed orders1 of $348 million Strong order book2 of $56 million for the Precast for the Water Transmission Systems segment Infrastructure and Engineered Systems segment Net Sales by Segment Gross Profit by Segment ($ Millions) WTS R
Slide 19: Corporate Responsibility
INVESTOR PRESENTATION | 19 HEALTH & SAFETY HUMAN CAPITAL MANAGEMENT CORPORATE RESPONSIBILITY ENVIRONMENTAL STEWARDSHIP Environmental, Social, and Governance Focus
Slide 20: Health & Safety
INVESTOR PRESENTATION | 20 CORPORATE RESPONSIBILITY HEALTH & SAFETY • Continued to improve on our industry-leading safety performance from 20231 with metrics significantly below the national and comparable industry average2 • 2024 total recordable incident rate: 1.25 • 2024 days away rate: 0.14 • Co
Slide 21: Human Capital Management
INVESTOR PRESENTATION | 21 CORPORATE RESPONSIBILITY HUMAN CAPITAL MANAGEMENT • Approach centered on fairness, professional development, and competitive and equitable compensation • Committed to fostering a workplace where all individuals have the opportunity to grow, contribute and succeed • Focus o
Slide 22: Environmental Stewardship
INVESTOR PRESENTATION | 22 CORPORATE RESPONSIBILITY ENVIRONMENTAL STEWARDSHIP • Prioritizing continuous improvement in reducing environmental impact • Minimizing air pollution from operational facilities with emissions control devices and reduction programs beyond complying with local air permitting
Slide 23: Strategic and Operational Initiatives
INVESTOR PRESENTATION | 23 STRATEGIC AND OPERATIONAL INITIATIVES Maintain a safe Improve performance Intensify our focus on workplace where through a persistent strategic opportunities to employees are proud focus on margin over grow the Company to work volume through expansion or acquisitions Conti
Slide 24: Investment Highlights
INVESTOR PRESENTATION | 24 INVESTMENT HIGHLIGHTS Large addressable market provides opportunities for further expansion Strong balance sheet Diversification strategy helps reduce impacts from market cyclicality and improve free cash flow generation Experienced management team with over 100 years of c
Slide 25: Appendix
INVESTOR PRESENTATION | 25 APPENDIX
Slide 26: Geneva Pipe and Precast
INVESTOR PRESENTATION | 26 STRATEGIC ACQUISITION: GENEVA PIPE • Completed the acquisition of Geneva Pipe and Precast on AND PRECAST January 31, 2020 for $49.4 million (~7.5x EBITDA) • Three reinforced concrete pipe, utilities, and precast products plants located in Utah • Products used for conveyanc
Slide 27: ParkUSA
INVESTOR PRESENTATION | 27 STRATEGIC ACQUISITION: PARKUSA • Completed the acquisition of ParkUSA on October 5, 2021 for $90.2 million (~6.2x EBITDA) • Technology leader in water infrastructure with strong brand reputation and customer relationships • Manufacture both precast concrete and steel fabri
Slide 28: Favorable WTS Market Dynamics
INVESTOR PRESENTATION | 28 FAVORABLE WTS MARKET DYNAMICS • U.S. water consumption equal to 82 gallons per person per day • Substantial non-revenue water loss: • 2.1 trillion gallons of treated drinking water lost annually due to water main breaks (250,000 – 300,000 per year in the US) • 6 billion ga
Slide 29: U.S. Water Infrastructure Needs
INVESTOR PRESENTATION | 29 U.S. WATER Total 20-year State Need by Water INFRASTRUCTURE Infrastructure Project Category1 NEEDS 9% 4% 3% TOTAL STATE NEED: • The 20-year national water infrastructure need across the U.S. is estimated by the 7th Drinking $625 Billion 17% Water Infrastructure Needs Surve
Slide 30: Eastern Water Transmission Projects
INVESTOR PRESENTATION | 30 WATER TRANSMISSION PROJECTS EASTERN WATER TRANSMISSION PROJECTS
Slide 31: Eastern Market Update
INVESTOR PRESENTATION | 31 WATER TRANSMISSION PROJECTS EASTERN MARKET UPDATE Houston – Surface Water Program Dallas and Tarrant Regional Water District • Bid 3,300 tons of pipe in 2024 and 500 additional tons • Continues construction on their Integrated Pipeline in 2025 across multiple projects to s
Slide 32: Eastern Market Update
INVESTOR PRESENTATION | 32 WATER TRANSMISSION PROJECTS EASTERN MARKET UPDATE North Dakota – Red River Valley North Carolina Water Supply Project • 140-mile 87,000-ton project • Seeing increased pipeline construction due to population • The States biennium legislative session concluded, growth and in
Slide 33: Eastern Market Update
INVESTOR PRESENTATION | 33 WATER TRANSMISSION PROJECTS EASTERN MARKET UPDATE Florida • Seeing increased bidding activity due to population growth • Additional 1,000 tons of pipe expected to bid in 2025 to expand water supply in the northern portion of the state Illinois – DuPage Water Commission Wat
Slide 34: Western Water Transmission Projects
INVESTOR PRESENTATION | 34 WATER TRANSMISSION PROJECTS WESTERN WATER TRANSMISSION PROJECTS
Slide 35: Western Market Update
INVESTOR PRESENTATION | 35 WATER TRANSMISSION PROJECTS WESTERN MARKET UPDATE California – Prop 1 $7.5 B Bond California Water Reuse Programs for Water Infrastructure • The Sites Reservoir – water storage project with nearly • MWD & LA Sanitation District Regional Reuse Pilot Project – 40,000 tons of
Slide 36: Western Market Update
INVESTOR PRESENTATION | 36 WATER TRANSMISSION PROJECTS WESTERN MARKET UPDATE Southern Nevada – Water Authority New Mexico • Awarded three CMGC contracts for the Horizon Pipeline • U.S. Bureau of Reclamation’s Navajo-Gallup Supply Program – Program and associated facilities to expand the final major