Slide 1: Second Quarter 2025 Earnings Presentation
Second Quarter 2025 Earnings Presentation July 29, 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, invol
Slide 3: New CEO – Thomas Snyder
New CEO – Thomas Snyder Proven executive in the global packaging industry with over 30 years of industry experience – Most recently served as President of Silgan Containers, a multi-billion- dollar enterprise, for more than 17 years Demonstrated success in: – Implementing operational excellence
Slide 4: Opening Remarks – First 30+ Days
Opening Remarks – First 30+ Days Key Focus Areas Initial Observations of TriMas Visited 10 manufacturing sites around the world Talented and focused teams Engaged with business leadership teams on key Innovative, proprietary products and process “know-how” drivers for continued success Div
Slide 5: Opening Remarks
Opening Remarks All Segments Contribute to Q2 Performance Robust total TriMas sales growth of 14%+ with improvements in cash flow and earnings per share Aerospace Aerospace delivered record quarterly sales with 32.5% Packaging growth and expanded operating margins, while maintaining a strong backlog
Slide 6: Second Quarter 2025 Results
Second Quarter 2025 Results Net Sales Adjusted EBITDA (1) Adj. Earnings Per Share(2) (in millions) (in millions) $274.8 +14.2% $0.61 +41.9% $47.9 +31.0% $240.5 $36.6 Organic: +13.4% $0.43 Acquisitions: +2.8% Dispositions: -2.2% Currency: +0.2% 15.2% 17.4% +220 bps Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2
Slide 7: Balance Sheet & Capitalization
Balance Sheet & Capitalization Low-Interest Rate Senior Notes Do Not Mature Until 2029 Strong balance sheet, backed by low-interest, long- June 30, December 31, Key Credit Statistics 2025 2024 June 30, 2024 term debt with no maturities until 2029 Total Debt $424.5 $398.1 $427.4 Net debt lower th
Slide 8: Q2 2025 Segment Overview: Packaging
Q2 2025 Segment Overview: Packaging Adjusted for Special Items Q2 2025 Q2 2024 Change LTM Q2 2025 Net Sales $143.0 $131.9 8.4% $524.0 Operating Profit $20.4 $18.5 10.7% $73.0 Operating Margin 14.3% 14.0% 30 b ps 13.9% (1) Adjusted EBITDA $30.0 $26.7 12.2% $108.8 Adjusted EBITDA Margin 20.9% 20.2% 70
Slide 9: Q2 2025 Segment Overview: Aerospace
Q2 2025 Segment Overview: Aerospace Adjusted for Special Items Q2 2025 Q2 2024 Change LTM Q2 2025 Net Sales $103.0 $77.7 32.5% $341.4 Operating Profit $20.7 $10.5 97.4% $55.5 Operating Margin 20.0% 13.5% 650 b ps 16.3% Adjusted EBITDA(1) $24.9 $15.0 65.6% $73.2 Adjusted EBITDA Margin 24.2% 19.4% 480
Slide 10: Q2 2025 Segment Overview: Specialty Products
Q2 2025 Segment Overview: Specialty Products Adjusted for Special Items Q2 2025 Q2 2024 Change LTM Q2 2025 Net Sales $28.7 $30.9 -6.8% $108.5 Operating Profit $1.3 $0.6 117.2% $4.5 Operating Margin 4.4% 1.9% 250 b ps 4.2% (1) Adjusted EBITDA $2.1 $1.7 26.7% $8.2 Adjusted EBITDA Margin 7.3% 5.3% 200
Slide 11: Raising Total Company Sales and EPS Outlook
Raising Total Company Sales and EPS Outlook Outlook as of July 29, 2025 FY 2025 Outlook Total Company As of 2/27/25 As of 7/29/25 Sales Growth(1) 4% to 6% 8% to 10% Adjusted EPS(2) $1.70 to $1.85 $1.95 to $2.10 Strong first half with momentum in Aerospace and accelerated recovery within Specialty
Slide 12: Q&A
Q&A
Slide 13: Appendix
— Appendix
Slide 14: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet June 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 30,280 $ 23,070 Receivables, net 203,770 164,820 Inventories 216,900 209,190 Prepaid expenses and other current assets 38,180 29,560 Total current assets 489,130 426,640 Property a
Slide 15: Consolidated Statement of Income
Consolidated Statement of Income Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Net sales $ 274,760 $ 240,500 $ 516,430 $ 467,600 Cost of sales (205,040) (186,490) (389,680) (360,880) Gross profit 69,720 54,010 126,750 106,720 Selling, general and administrative expenses (
Slide 16: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Six months ended June 30, 2025 2024 Cash Flows from Operating Activities: Net income $ 29,140 $ 16,080 Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition impact: Gain on dispositions of assets (5,270) - Depreciati
Slide 17: Company and Segment Financial Information
Company and Segment Financial Information YOY Growth % Organic Acquisitions Divestitures Fx Total Three months ended Six months ended Q2 2025 vs. Q2 2024 June 30, June 30, 2025 2024 2025 2024 Consolidated TriMas 13.4% 2.8% -2.2% 0.2% 14.2% Packaging Packaging 7.9% 0.0% 0.0% 0.5% 8.4% Net sales $ 143
Slide 18: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Net income, as reported $ 16,720 $ 10,940 $ 29,140 $ 16,080 Special Items to consider in evaluating quality of net income: Business restructuring and severance costs 2,670 440 9,210
Slide 19: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended June 30, 2025 2024 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by operating activities $ 30,250 $ 3,650 $ 33,900 $ 18,360 $ 3,860 $ 22,220 Less: Capital expenditures (17,040) - (17,040) (
Slide 20: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended Six months ended June 30, June 30, June 30, 2025 2024 2025 2024 2025 2024 Net income, as reported $ 16,720 $ 10,940 $ 37,310 $ 40,510 $ 29,140 $ 16,080 Depreciation expense 10,010 10,020 47,770 38,870 19,650 20,000 Am
Slide 21: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures As of July 29, 2025 Full Year 2025 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended December 31, 2025 Low High Diluted earnings per share (GAAP) $ 1.31 $ 1.46 Pre-tax amortization of acquisition-related intangible assets(1) 0.42 0.42 Income