Matthews International Corporation · NASDAQ:MATW

Matthews International — Investor Presentation (February 2024)

43 slides from Matthews International's investor presentation, Feb 8, 2024

1. Slide 1: Corporate Presentation September 30, 2023

   www.matw.com | Nasdaq: MATW © 2023 Matthews International Corporation. All Rights Reserved. CORPORATE PRESENTATION September 30, 2023

2. Slide 2: Disclaimer

   © 2023 Matthews International Corporation. All Rights Reserved. DISCLAIMER 2 Any forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are

3. Slide 3: A History of Innovating and Creating

   © 2023 Matthews International Corporation. All Rights Reserved. A HISTORY OF INNOVATING AND CREATING Matthews today builds on its legacy with development of new technologies that provide a platform for continued evolution and growth. 3 The SGK Brand Solutions segment is a leading provider of packagi

4. Slide 4: Matthews Historical Revenue and Adjusted EBITDA

   © 2023 Matthews International Corporation. All Rights Reserved. 4 * The Segment results do not include Corporate and Non-Operating Expense of $64,227 for FY21, $58,323 for FY22, and $61,583 for FY23. Total Adjusted EBITDA as defined by the company as earnings before interest, income taxes, depreciat

5. Slide 5: Key Figures - FY23

   © 2023 Matthews International Corporation. All Rights Reserved. KEY FIGURES - FY23 5 173 YEARS IN BUSINESS $1.88 BILLION Consolidated Revenue 6 CONTINENTS 30+ COUNTRIES Total Sales by Region Total Sales by Segment ~12,000+ EMPLOYEES 28% 27% 45% Europe 30% Asia & Pacific 5% Americas 65%

6. Slide 6: Industrial Technologies

   © 2023 Matthews International Corporation. All Rights Reserved. INDUSTRIAL TECHNOLOGIES

7. Slide 7: Matthews Industrial Technologies Our Businesses

   © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES OUR BUSINESSES 7 MATTHEWS ENGINEERING WAREHOUSE AUTOMATION PRODUCT IDENTIFICATION Principal Product Lines Competitive Advantages • IP protected platform supporting advanced calendering processes • A lead

8. Slide 8: Matthews Engineering: Who We Are

   © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES MATTHEWS ENGINEERING WHO WE ARE 8 Creators of world-leading energy and converting technologies Matthews Engineering is a global team that turn ideas into powerful technologies Over 70 years of experience

9. Slide 9: Energy Solutions

   © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES ENERGY SOLUTIONS 9 Advanced calendering system enables patented lithium-ion dry-battery electrode (DBE) manufacturing and embossing cylinders used in hydrogen fuel cells and electrolyzers by automotive a

10. Slide 10: Lithium-Ion Battery Cell Design

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES LITHIUM-ION BATTERY CELL DESIGN PRISMATIC CYLINDRICAL POUCH MATTHEWS IS AGNOSTIC TO WHICH CELL CHEMISTRY 10 Lithium-ion battery structure Where Matthews delivers value Matthews’ engineering division deve

11. Slide 11: Dry vs Wet Coated Electrodes

    © 2023 Matthews International Corporation. All Rights Reserved. SOLVENT RECOVERY+ 11 MIXING CALENDERING & LAMINATING EL EC TR O D E PR O D U C TI O N DRY COATED ELECTRODES WET COATED ELECTRODES MATTHEWS INDUSTRIAL TECHNOLOGIES 75% Reduction in Utilities Eliminates Toxic Solvents & Improves Battery P

12. Slide 12: Energy Solutions Growth

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES 12 Note: All figures reflect fiscal years ended September 30th. ENERGY SOLUTIONS GROWTH Energy Storage Solutions Sales ($mm)* Growing demand for fuel efficient and low emissions vehicles Increasing gover

13. Slide 13: Matthews Industrial Automation: Who We Are

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES Creators of premier industrial automation applications. Designs manufacturing technologies and solutions for industrial automation applications that mark, identify, track, control and pick products at th

14. Slide 14: Warehouse Automation

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES Delivers industry-leading technologies that integrate dynamic material handling applications, increasing productivity in ecommerce, omnichannel fulfillment centers, and manufacturing facilities Our Produ

15. Slide 15: Warehouse Automation Market and Megatrends

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES 15 WAREHOUSE AUTOMATION Global Warehouse Automation Market Size ($bn) Key Megatrends Driving Growth Speed of shipping Growth of e-commerce Labor shortages in warehouse ◦ Consumers expect faster delivery

16. Slide 16: Warehouse Automation - Leading WES

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES 16 WAREHOUSE AUTOMATION – LEADING WES Software and Integration for Warehouse Execution Software Leading WES Matthews designs and implements proprietary warehouse execution software in custom applications

17. Slide 17: Market Opportunity - Product Identification

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES 17 MARKET OPPORTUNITY PRODUCT IDENTIFICATION Market Opportunity - ~ $4B Source: Technavio Report 2022 New Product xpands Opportunity • Organically developed to address Continuous Ink Jet market - nearly

18. Slide 18: Strong Reputation with MPERIA Controller and Inks

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS INDUSTRIAL TECHNOLOGIES C O N F I D E N T I A L STRONG REPUTATION WITH MPERIA CONTROLLER AND INKS 18 • Recurring consumables – Printing products require Matthews proprietary ink building a recurring revenue stream ◦ Dedicated i

19. Slide 19: Matthews Memorialization

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS MEMORIALIZATION

20. Slide 20: Matthews Memorialization: Who We Are

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS MEMORIALIZATION Helping families move from grieving to remembrance for nearly 100 years Leading provider of products, business solutions and technology services to cemeteries, funeral homes, and monument dealers. MATTHEWS MEMOR

21. Slide 21: Products & Solutions

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS MEMORIALIZATION 21 PRODUCTS & SOLUTIONS CEMETERY PRODUCTS FUNERAL HOME SOLUTIONS CREMATION & INCINERATION EQUIPMENT MARKET POSITION CORE GEOGRAPHIES North America, Italy, Australia United States Global Bronze Memorials - #1 Gra

22. Slide 22: Memorialization Competitive Advantage

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS MEMORIALIZATION 22 MEMORIALIZATION COMPETITIVE ADVANTAGE OPERATOR OF SCALE • Leadership position and barriers to entry create strong margins and stable cash flow generation STRONG BRAND & REPUTATION • Respected and growing mark

23. Slide 23: Stable Demand with Growth Potential

    © 2023 Matthews International Corporation. All Rights Reserved. MATTHEWS MEMORIALIZATION 23 STABLE DEMAND WITH GROWTH POTENTIAL Casketed Deaths vs. Non-casketed Deaths1 Sales of Cremation Products ($m)2 Relatively stable demand driven by predictable trends: increased deaths and rising cremation rate

24. Slide 24: SGK Brand Solutions

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS

25. Slide 25: SGK Brand Solutions: Who We Are

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS Creators of experiences and solutions, we simplify marketing and amplify brands SGK Brand Solutions connects many of the largest global consumer products companies through every step of the packaging continuum – from

26. Slide 26: SGK Brand Solutions Packaging Continuum

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS SGK BRAND SOLUTIONS PACKAGING CONTINUUM 26 Brand Development Assemb le TeamStrategy / Creative Adaptive Merchandising Pre-Media Tooling PrinterCPG Brand Deployment Brand Delivery

27. Slide 27: Core Packaging

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS SGK BRAND SOLUTIONS 27 CORE PACKAGING

28. Slide 28: Diverse Client Base

    © 2023 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS SGK Brand solutions 28 DIVERSE CLIENT BASE FOOD/ BEVERAGE CLIENTS GLOBAL PHARMA/ HEALTHCARE CLIENTS GLOBAL RETAILER CLIENTS OTHER LEADING BRANDS

29. Slide 29: Investment Highlights and Financial Overview

    © 2023 Matthews International Corporation. All Rights Reserved. 29 INVESTMENT HIGHLIGHTS AND FINANCIAL OVERVIEW

30. Slide 30: Key Investment Highlights

    © 2023 Matthews International Corporation. All Rights Reserved. 30 GROWTH OPPORTUNITIES SUPPORTED BY STABLE CORE BUSINESSES 1 FAVORABLE COMPETITIVE POSITIONS IN ATTRACTIVE ADDRESSABLE MARKETS 2 DISCIPLINED TRACK RECORD OF ACQUISITIONS AND INTEGRATION4 STRONG AND EXPERIENCED MANAGEMENT TEAM 5 3 KEY I

31. Slide 31: Financial Overview

    © 2023 Matthews International Corporation. All Rights Reserved. 31 Financial Overview

32. Slide 32: Capital Allocation Support Long-Term Growth

    © 2023 Matthews International Corporation. All Rights Reserved. Note: See Disclaimer (Page 2) for Management’s assessment of supplemental information related to non-GAAP net debt leverage ratio. (1) Non-GAAP net debt leverage ratio is defined as outstanding debt (net of cash) relative to adjusted EB

33. Slide 33: Financial Summary

    © 2023 Matthews International Corporation. All Rights Reserved. 33 FINANCIAL SUMMARY (Unaudited) (Dollars in thousands) Fiscal Year Ended September 30, 2021 2022 2023 Sales: Memorialization $ 769,016 $ 840,124 $ 842,997 Industrial Technologies 284,495 335,523 505,751 SGK Brand Solutions 617,519 586,

34. Slide 34: ESG Overview

    © 2023 Matthews International Corporation. All Rights Reserved. 34 ESG Overview

35. Slide 35: Business Solutions to Drive Efficiency and Environmental Performance

    © 2023 Matthews International Corporation. All Rights Reserved. 35 Business Solutions to Drive Efficiency and Environmental Performance ◦ Provider of Energy storage solutions including battery production technology for electric vehicles ◦ Waste-to-Energy solutions with projects in UK and Europe ◦ Cr

36. Slide 36: Appendix

    © 2023 Matthews International Corporation. All Rights Reserved. 36 Appendix

37. Slide 37: Our Executive Team

    © 2023 Matthews International Corporation. All Rights Reserved. Steven F. Nicola Chief Financial Officer & Secretary ◦ 2003: Named Chief Financial Officer ◦ 2001: Vice President, Accounting and Finance ◦ 1995: Corporate Controller ◦ 1992: Joined Matthews ◦ Prior to Matthews: Steve worked at Coopers

38. Slide 38: Non-GAAP Reconciliation: Adjusted EBITDA

    © 2023 Matthews International Corporation. All Rights Reserved. NON-GAAP RECONCILIATION (Unaudited) 38 APPENDIX B T T L ADJUSTED EBITDA Fiscal Year Ended September 30, 2021 2022 2023 Net (loss) income $ 2,858 $ (99,828) $ 39,136 Income tax (benefit) provision 6,375 (4,391) 1,774 income (loss) before

39. Slide 39: Adjusted Net Income & Earnings Per Share Reconciliation

    © 2023 Matthews International Corporation. All Rights Reserved. 39 APPENDIX C ADJUSTED NET INCOME & EARNINGS PER SHARE NON-GAAP RECONCILIATION (Unaudited) Fiscal Year Ended September 30, 2021 2022 2023 per share per share per share Net (loss) income attributable to Matthews $ 2,910 $ 0.09 $ (99,774)

40. Slide 40: Constant Currency Sales and Adjusted EBITDA

    © 2023 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to constant currency sales. 40 CONSTANT CURRENCY SALES AND ADJUSTED EBITDA NON-GAAP RECONCILIATION (Unaudited) (In thousands) Memorialization Indu

41. Slide 41: Net Debt & Net Debt Leverage Ratio

    © 2023 Matthews International Corporation. All Rights Reserved. 41 APPENDIX E NET DEBT & NET DEBT LEVERAGE RATIO NON-GAAP RECONCILIATION (Unaudited) (Dollars in thousands) Fiscal Year Ended September 30, 2021 2022 2023 Long-term debt, current maturities $ 4,624 $ 3,277 $ 3,696 Long-term debt 759,086

42. Slide 42: Free Cash Flow Reconciliation

    © 2023 Matthews International Corporation. All Rights Reserved. 42 APPENDIX F FREE CASH FLOW NON-GAAP RECONCILIATION (Unaudited) (Dollars in thousands) Fiscal Year Ended September 30, 2021 2022 2023 Cash Provided from Operating Activities $ 162,811 $ 126,860 $ 79,524 Less: Capital Expenditures (34,3

43. Slide 43: Robust Cash Flow History

    © 2023 Matthews International Corporation. All Rights Reserved. 43 Note: All figures reflect fiscal years ended September 30th; Historical FY1994 – FY2020 reflect amounts as reported in the Company's 10-K filings for those fiscal years. See Disclaimer (Page 2) for Management’s assessment of suppleme

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