Fuel Tech, Inc. · NASDAQ:FTEK
Fuel Tech — H.C. Wainwright 28th Annual Global Investment Conference 2026
20 slides from Fuel Tech's conference presentation, Sep 18, 2026
Slide 1: H.C. Wainwright 28th Annual Global Investment Conference
H.C. Wainwright 28th Annual Global Investment Conference ber 14", 2026
Slide 2: Safe Harbor
Safe Harbor rudlfece This presentation contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securties Litigation Reform Act of 1995 and reflect Fuel Tech’s current expe
Slide 3: Proven Industry Leader Appointed President & CEO
Proven Industry Leader Appointed President & CEO rudltecn (Effective August 10, 2026) 30+ years of global experience leading industrial companies across the power, industrial, water, and environmental sectors: CECO tyco AMETEK @ = xylem > PENTAIR | BW ies Expertise in commercial and operational exce
Slide 4: Company Overview
Company Overview FudlTecn Developing technologies that help control air pollution, support the generation of cleaner energy, and promote the efficiency of water and wastewater treatment processes. P=) Expect Total Revenues in Tay Ali Pottution contro! 2026 to Exceed 2025 ~$30 MM * Cash & Investments
Slide 5: Investment Thesis
Investment Thesis rudlfece @& Proprietary portfolio of environmental technologies that deliver measurable customer ROI. G])_Emberided supply chain relationships provide access to specialized capabilities, drive high customer satisfaction, and create a dependable channel for scalable capacity. ping S
Slide 6: Our History
Our History Four decades of innovation in air pollution control, chemical technologies and water treatment solutions. Powered by a talented team and a consultative approach that delivers meaningful value for customers, employees and shareholders. Ding innevaton na gota grown Del aetaretor patent ant
Slide 7: Capitalizing on Growing Segments
Slide 8: Air Pollution Control (APC) Segment
Air Pollution Control (APC) Segment Up to 90% emissions reduction across APC (NO,, SO;, and PM, ,) solutions portfol + State-of-the-art proprietary technologies that are focused on multi-pollutant control + Typical customers: fossil fuel-fired utilities and industrial boilers Pursuing $125 - $150+ M
Slide 9: The Rise of Data Centers
The Rise of Data Centers Data center locations grew from 418 to 5,381 (2018 - 2024)'” Data center power demand is surging to cater to increased processing demands associated with: |. Large language models (LLMs) II. Digital currencies. lll, Cloud hyperscalers Global energy demand rising, fueled by g
Slide 10: Emissions Compliance is Crucial
Emissions Compliance is Crucial rol TECH Fuel Tech’s Solutions Can Play a Critical Role in Reducing Data Center Emissions 56% of all electricity used by data centers came from fossil-ueled power plants compared to 24% from renewable sources and 20% from nuclear. ‘Our SCR solution targets NO, emissio
Slide 11: SCR Drivers for Data Centers
SCR Drivers for Data Centers Key factors affecting the need for SCR technology Site Location Is the site in an Attainment or a Non-attainment area for ozone? + NOxis a contributor to ozone which is regulated under NAAQS. + More stringent NOx requirements in Non-Attainment areas. What are the expecte
Slide 12: Chemical Technologies
Chemical Technologies rititecn Boiler Efficiency Improvements that Drive Operational, Financial, & Environmental Benefits + Program using proprietary formulation of magnesium hydroxide to improve the Officioncy of heat transfer ih a combustion envionment P Reduces slag and increases boiler efficienc
Slide 13: Water Technologies
Water Technologies Dissolved Gas Infusion APPLICATIONS INCLUDE: Precise delivery of dissolved oxygen, carbon dioxide or other a= gases for a wide range of applications across industries + Fastest kinetic reactions independent of basin depth & solids loading + Effective, flexible, low capital cost so
Slide 14: Strategic Focus for Profitable Growth
Strategic Focus for Profitable Growth & aft OF Strengthen the Core Deepen relationships with existing customers and Is + Monetize and expand the Installed base, Broaden OEM and channel partnerships + Improve pipeline visibility, ‘qualification and conversion Convert pilots and technology demonstrati
Slide 15: Leadership Team
Leadership Team Locpalppores cae saesieuniees resident & Chief Execute ice President, Chief Financial ron en siding Ci Serior Vice President, Sales 3b 4 Bradley Johnson Kevin Dougherty Bill Decker Charlie Mitel Vice President, General Counsel Vice President Business ‘Vice President, Water & Vice Pre
Slide 16: In Closing
In Closing. rudlfece + Actively pursuing a project pipeline of $125 - $150 MM with significant near-term booking opportunities » Al infrastructure build-out to continue increasing opportunities for APC * Continuing to strengthen our core business and deploy capital efficiently for both organic and M
Slide 17: Appendix
Appendix Fuel Tech, Inc. Financials ruil Tecw
Slide 18: Financial Overview
Financial Overview Statement of Operations Summary Q2 2026 1H 2026 1H 2025 rl eon (S in thousands) Total revenues Gross profit Selling, general and administrative expenses Operating loss Net loss Adjusted EBITDA (loss) $6,485 $2,675 $3,504 $(1,565) $(1,230) $(1,248) $12,565 $5,324 $87,310 $(3,161) $
Slide 19: Financial Highlights
Financial Highlights (¢ in mms, except book value per share) REVENUES $128 sig (@22028 022028 1H 2025 1H 2028 GROSS MARGIN as (922025 022028 1H 2025 1H 2026 ss 88 (022025 022026 1H 2025 14 2028, ‘CASH J EQUIVALENTS J INVESTMENTS. “arst/2024 12/31/2025 @n02026 BOOK VALUE PER SHARE ‘arst2024 12/31/202
Slide 20: The Equity Group
FoIEQUITY GROUP A Ruder Finn Company Devin Sullivan Managing Director 52 devin sullivan@theequitygroup.com Conor Rodriguez Associate © conor rodriguez@theequitygroup.com
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