Slide 1: Q2 2025 Earnings Call
Q2 2025 Earnings Call JULY 31, 2025 1
Slide 2: Forward-looking statements
Forward-looking statements Safe Harbor Statement Statements included in this presentation that are not a description of historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 193
Slide 3: Non-GAAP and Additional Information
Non-GAAP and Additional Information Non-GAAP Information This presentation includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”): (1) Adjusted operating expenses, which the Company defines
Slide 4: Key Messages For The Quarter
Key Messages For The Quarter • Rogers has strong capabilities and employee talent Core Strengths Intact • Focused on improving speed of execution Adapting to Market • Taking action in response to market changes that are affecting the AES 2 Dynamics curamik® business • Sales, gross margin and adjuste
Slide 5: Rogers Core Strengths Remain Intact
Rogers Core Strengths Remain Intact Deep Strong Employee Global Customer Technical Talent Reach Relationships Capabilities Ro ge rs H as th e Te c h n o logy an d Cap ab i l i ties To Su c c e ed Fo c u s ed o n Improvi ng A gi l i ty an d Sp e e d o f Exe c u tio n 5
Slide 6: The Electric Vehicle (EV) Market is Evolving Rapidly
The Electric Vehicle (EV) Market is Evolving Rapidly Multiple factors leading to a lower outlook for curamik® EV growth Market Evolution U.S. and European market growth well below expectations as China has met or exceeded BEV Production Forecast for 2025 11.1 11.3 11.1 BEV Production By Year 11.1 (
Slide 7: Response to the EV Market Evolution
Response to the EV Market Evolution Right sizing curamik® operations in response to market conditions Cost $13 million of expected annual run rate savings Improvements Approximately 1 year payback on restructuring actions New curamik® facility in China scheduled to ramp production in the coming mont
Slide 8: Q2 2025 Financial Summary
Q2 2025 Financial Summary (in millions, except for EPS) Q2 2025 Q1 2025 Commentary Commentary Net sales $202.8 $190.5 • Sales, gross margin and adjusted EPS improved sequentially and within Q2 guidance range Gross margin $64.0 $57.0 • AES sales increased by 4.6% from improved Gross margin % 31.6% 29
Slide 9: Q2 2025 Sales By End Market
Q2 2025 Sales By End Market Market % of Sales 1 Comments versus Q1’25 results Sales improved at double digit rate, with growth in both AES (factory automation) Industrial 28% and EMS general industrial N. America and European defense remained strong as commercial aerospace A&D 16% demand improved in
Slide 10: Q2 2025 Gross Margin and Adjusted EBITDA
Q2 2025 Gross Margin and Adjusted EBITDA* Gross Margin Adjusted EBITDA* ($ in millions) ($ in millions) $23.9 $64.0 $57.0 $19.5 29.9% 31.6% 10.2% 11.8% Q1'25 Q2'25 Q1'25 Q2'25 • Gross margin improved due to higher volume and • Adjusted EBITDA improved due to higher gross margin, favorable product mi
Slide 11: Q2 2025 Cash Utilization
Q2 2025 Cash Utilization Net Cash Provided By Operating Activities $ 13.7 Net Cash Provided By Investing Activities $ (7.3) ($ in millions) Net Cash Used In Financing Activities $ (28.0) Effect Of Exchange Rate Fluctuations $ 3.2 Net Increase (Decrease) In Cash $ (18.4) $23.9 $8.1 $4.1 $3.7 $5.7 $28
Slide 12: Q3 2025 Guidance
Q3 2025 Guidance Guidance Q3 2025 Net Sales $200M to $215M Gross Margin 31.5% to 33.5% Earnings Per Diluted Share1 $0.00 to $0.40 Adjusted Earnings Per Diluted Share2 $0.50 to $0.90 • Guidance for the third quarter is based on global tariff policies in place as of July 31, 2025. • Rogers has impleme
Slide 13: Key Priorities
Key Priorities • A more simplified operating model Agile Org Structure • Improved accountability • Empower employees Speed of Execution 2 • Faster decision making • Enhanced agility Improve Growth • Strong customer focus • New product introductions Ro ge rs H as th e Te c h n o logy an d Cap ab i l
Slide 14: Appendix
\ Appendix ROGERS CORPORATION 14
Slide 15: Q2 2025: Adjusted Operating Expenses Reconciliation
Q2 2025: Adjusted Operating Expenses Reconciliation* ($ in millions) Q2 2025 Q2 2025 Q1 2025 Q1 2025 GAAP Operating Expenses and Margin $131.5 64.8% $57.3 30.1% Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - - - - Dispositions - - - - Intangible Amortization
Slide 16: Q2 2025: Adjusted Earnings Per Diluted Share Reconciliation
Q2 2025: Adjusted Earnings Per Diluted Share Reconciliation Q2 2025 Q1 2025 GAAP Earnings (Loss) Per Diluted Share ($4.00) ($0.08) Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - - Dispositions - - Intangible Amortization $0.15 $0.15 (Gain) Loss on Sale or Di
Slide 17: Q2 2025: Adjusted EBITDA and Margin Reconciliation
Q2 2025: Adjusted EBITDA and Margin Reconciliation ($ in millions) Q2 2025 Q1 2025 GAAP Net Income (Loss) ($73.6) ($1.4) Acquisitions and Divestiture Related Costs: Acquisition and Related Integration Costs - - Dispositions - - Intangible Amortization $2.7 $2.7 (Gain) Loss on Sale or Disposal of PPE
Slide 18: Q2 2025: Free Cash Flow Reconciliation
Q2 2025: Free Cash Flow Reconciliation ($ in millions) Q2 2025 Q1 2025 Net Cash Provided By Operating Activities $13.7 $11.7 Non-Acquisition Capital Expenditures ($8.1) ($9.6) Free Cash Flow $5.6 $2.1 Note: dollars may not add due to rounding. 18 *Free cash flow defined as net cash provided by opera
Slide 19: Q3 2025: Guidance Reconciliation
Q3 2025: Guidance Reconciliation Q3 2025 GAAP Earnings Per Diluted Share $0.00 to $0.40 Intangible Amortization $0.11 Other Adjustments* $0.39 Adjusted Earnings Per Diluted Share $0.50 to $0.90 *Other Adjustments is mainly comprised of expected executive severance costs and restructuring charges for