L.b. Foster Company · NASDAQ:FSTR
L.b. Foster — Sidoti Small Cap Conference June 2026
30 slides from L.b. Foster's conference presentation, June 2026
Slide 1: L.B. Foster Company Sidoti Small Cap Conference
L.B. Foster Company Sidoti Small Cap Conference Nasdaq - FSTR June 2026
Slide 2: Safe Harbor Disclaimer
Safe Harbor Disclaimer Safe Harbor Statement Non-GAAP Financial Measures This investor presentation discloses the following non-GAAP measures: This presentation may contain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section
Slide 3: Company Overview
Company Overview "L.B. Foster Company has a rich history of innovation and customer service, and we are reinvigorated by the momentum building inside our business and the opportunity to grow shareholder value." Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 3 Ju
Slide 4: L.B. Foster Overview
L.B. Foster Overview Innovating to solve global infrastructure challenges 2026 Guidance3 Low High > Founded in 1902, headquartered in Pittsburgh, Pennsylvania Revenue $ 540 $ 580 > Locations throughout North America, South America, Europe, and Asia Adj. EBITDA1 $ 41 $ 46 Cap Ex as a % of sales 2.7%
Slide 5: Business Segments
Business Segments "With much of the portfolio transformation work complete, our strong financial position enables accelerated investments to drive sustainable organic growth" Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 5 June 2026
Slide 6: Business Segment Profile
Business Segment Profile TTM Q1 2026 Net Sales by Segment Rail, Technologies, and $600 Services Infrastructure Solutions $500 $237 $563 $400 Offering: Offering: $300 > Rail products / technology-based > Proprietary precast products to $326 solutions improving safety / efficiency support North Americ
Slide 7: Rail, Technologies, and Services - Overview
Rail, Technologies, and Services - Overview Offering Supports the Safety, Reliability, and Efficiency of Global Rail Markets TTM Q1 2026 Rail Sales Business Gross Margin Rail Products $400 Profiles > Returns platform business 40% > Products for rail track infrastructure $41 $326 $300 35% > Legacy L.
Slide 8: Addressable Market - Rail
Addressable Market - Rail FSTR 3-year CAGR v. Rail Products Long-Term Addressable Rail Products Market Growth > Returns platform L.B. Foster Market Share > Steady market demand Addressable Market $200, 44% > Driven by customer maintenance needs (4)% (2)% —% 2% 4% Total Addressable Market1 $450M Addr
Slide 9: Infrastructure Solutions Overview
Infrastructure Solutions Overview Deploying Advanced Technologies That Positively Impact the Built Environment Precast Concrete Products TTM Q1 2026 Business Gross Margin Infrastructure Sales Profile > Growth platform with multiple avenues available $250 40% > Turnkey concrete buildings, manufacture
Slide 10: Addressable Market - Precast Concrete
Addressable Market - Precast Concrete FSTR 3-year CAGR v. CXT Buildings Long-Term Addressable CXT Buildings > Growth platform L.B. Foster Market Share Market Growth > Solid market share in Addressable Market $86, 44% geographic regions > Market position expected to Total Addressable Market1 —% 5% 10
Slide 11: Growth & Returns Platforms Established
Growth & Returns Platforms Established Business Portfolio Purposefully Constructed to Fund and Drive Growth Growth Platforms Returns Platforms Platform for driving growth, profitability, and ROIC with improving demand Platform optimized for cash generation to fund organic and inorganic from infrastr
Slide 12: Growth & Returns Platform Profiles
Growth & Returns Platform Profiles Growth Platforms Returns Platforms Platform for driving growth, profitability, and ROIC with improving demand Platform to be optimized for cash generation to fund organic and inorganic from infrastructure spend, safety focus and fuel efficiency initiatives growth i
Slide 13: Financial Review
Financial Review "Our strategic transformation has strengthened our financial position, enabling funding of organic growth initiatives in our growth platforms." Sean Reilly SVP and Chief Financial Officer L.B. Foster Sidoti Small Cap Conference 13 June 2026
Slide 14: Executive Summary – Quarter Highlights
Executive Summary – Quarter Highlights What we’ve accomplished… Where we're going… Net income of $1.5M up 2026 Guidance Net sales of $121.1M up $3.6M YoY 23.9% YoY; Rail up 38.4%; New orders, net1 of Net Sales Infrastructure up 5.9% EBITDA1 of $5.2M up $142.1M down 4.7% YoY $540M - $580M 183.0% YoY
Slide 15: Strategic Transformation Complete
Strategic Transformation Complete Divestitures / Product Line Exits Acquisitions Lower Margin Profiles – Energy-Focused / Commoditized Businesses Higher Margin Profiles – Rail Technologies and Precast Concrete 2021 – Piling Products - Commoditized, working-capital intensive business 2022 – Skratch a
Slide 16: Key Metrics: 2021 – TTM Q1 2026
Key Metrics: 2021 – TTM Q1 2026 Structural Improvement in Business Portfolio Driving Gross / EBITDA Margin1 Expansion 1 1 1 Adjusted Sales Adjusted Gross Profit Adjusted EBITDA $575 24.0% $130 $45 10.0% $563 $42 22.1% $550 $546 22.0% $40 $39 $540 21.2% 21.3% 21.4% $120 $531 $120 8.0% 20.0% $35 $34 A
Slide 17: Net Debt, Leverage, and Cash Flow
Net Debt1, Leverage, and Cash Flow Net Debt1 and Gross Leverage Ratio1,2 Favorable YoY on Improved Operating Cash Flow / Profitability Net Debt1 and Gross Leverage Ratio1,2 > Net debt1 and Gross Leverage Ratio1,2 increased during Per Credit Agreement Q1 due to seasonal working capital needs; favorab
Slide 18: Capital Allocation Priorities
Capital Allocation Priorities Relentless Pursuit of Shareholder Returns with Prudent Capital Allocation Capital Allocation Investment for Growth Debt Reduction Growth Capital Expenditures > Target maintaining Gross Leverage Ratio1 between > Targeting ~2.7% of sales for maintenance, efficiency and ~1
Slide 19: Valuation and FCF Yield
Valuation and FCF Yield1 Improved Trading Volumes and Free Cash Flow Yield of 5% at the 2026 Guidance Mid-Point 2026 Guidance > Inclusion in the Russell 2000 Index in 2024 (As of May 4, 2026) Company Valuation 2025 Low Mid High > Improved trading volumes in 2026 Revenue $ 540.0 $ 540.0 $ 560.0 $ 580
Slide 20: Closing Remarks
Closing Remarks Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 20 June 2026
Slide 21: Market and Business Outlook
Market and Business Outlook Demand Outlook Supported by Stable Domestic Markets and Government Funding Programs Precast Concrete well Demand in North America positioned to benefit from Renewed interest in has recovered to normal Rail Technologies growth expansion of civil domestic energy levels afte
Slide 22: L.B. Foster Investment Thesis
L.B. Foster Investment Thesis Structural Improvement in Business portfolio transformation, organic growth and focused Profitability profitability initiatives manifesting in improved results Infrastructure pure play with a diverse set of avenues for Organic Growth Drivers in Place growth in multi-yea
Slide 23: Innovating to Solve Global Infrastructure Challenges
Innovating to Solve Global Infrastructure Challenges Investing in Growth Platforms to Drive Sales Growth and Profitability Expansion in 2026 and Beyond > Strategic Transformation Financial Results 2026 Financial Guidance commenced in 2021 2021 v. 2025 May 4, 2026 > Significant improvement in 2021 20
Slide 24: Thank you!
Thank you! L.B. Foster Company Investor Presentation Nasdaq - FSTR L.B. Foster Sidoti Small Cap Conference 24 June 2026
Slide 25: Appendix
Appendix L.B. Foster Sidoti Small Cap Conference 25 June 2026
Slide 26: Non-GAAP Measure: Adjusted EBITDA Margin
Non-GAAP Measure: Adjusted EBITDA Margin Twelve months ended: December 31, December 31, December 31, December 31, December 31, March 31, ($ in millions) 2021 2022 2023 2024 2025 2026 Net income, as reported $ 3.5 $ (45.7) $ 1.3 $ 42.8 $ 7.4 $ 11.0 Interest expense - net 3.0 3.3 5.5 5.0 4.9 4.6 Incom
Slide 27: Non-GAAP Measure: Adjusted Results
Non-GAAP Measure: Adjusted Results Trailing Twelve Twelve Months Ended Consolidated Adj. Results Months Ended December 31, December 31, December 31, December 31, March 31, ($ in millions) 2022 2023 2024 2025 2026 Net sales, as reported $ 497.5 $ 543.7 $ 530.8 $ 540.0 $ 563.4 Bridge grid deck exit im
Slide 28: Non-GAAP Measure: Net Debt and Free Cash Flow
Non-GAAP Measure: Net Debt1 and Free Cash Flow March 31, December 31, September 30, June 30, March 31, December 31, September 30, June 30, 2026 2025 2025 2025 2025 2024 2024 2024 ($ in millions) Total debt $ 59.7 $ 42.8 $ 58.7 $ 81.6 $ 82.5 $ 46.9 $ 68.5 $ 87.2 Less: cash and cash equivalents (4.0)
Slide 29: Non-GAAP Measure: Funding Capacity
Non-GAAP Measure: Funding Capacity March 31, 2026 ($ in millions) Cash and cash equivalents $ 4.0 Total availability under the credit facility 150.0 Outstanding borrowings on revolving credit facility and letters of credit (60.0) Net availability under the revolving credit facility1 $ 90.0 Total ava
Slide 30: Non-GAAP Measure: Enterprise Value & Free Cash Flow Yield
Non-GAAP Measure: Enterprise Value & Free Cash Flow Yield December 31, 2025 ($ in millions) Share price (as of 03/10/2026) $ 28.50 Shares outstanding (as of 02/27/2026) 10.3 Market Capitalization $ 294 Net debt (as of 12/31/2025) 38.4 Enterprise Value $ 332 December 31, 2026 ($ in millions) Share pr
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