Smith-midland Corporation · NASDAQ:SMID
Smith-midland — Investor Presentation (June 2026)
17 slides from Smith-midland's investor presentation, June 2026
Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: SMID JUNE 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement These slides and the accompanying oral presentation contain forward- looking statements. All statements other than statements of historical fact contained in this presentation, including statements regarding the future financial position of Smith- statements, including financia
Slide 3: Smith-Midland at a Glance
Smith-Midland at a Glance A Leader in Proprietary Precast Highway Barrier and Founded Infrastructure Products SMID 1960 JJ-Hook SlenderWall (Nasdaq) Headquartered in Highway Barriers Cladding System Midland, Virginia $29.91 ~$170M Share Price* Market Cap Easi-Set SoftSound * As of 6/5/26 Concrete Bu
Slide 4: "Golden Age" for Infrastructure
“Golden Age” for Infrastructure “By 2040, the global demand for new infrastructure investment is $68 trillion. To put that price tag in perspective, it’s roughly the equivalent of building the entire Interstate Highway System and the Transcontinental Railroad, start to finish, every six weeks—for th
Slide 5: Highly Customized Products
Highly Customized Products Decorative Security Military Training smithmidland.com | Investor Presentation June 2026 5
Slide 6: Strategically Located Manufacturing Plants
Strategically Located Manufacturing Plants VIRGINIA 45 acres, 59K sf (Midland) reaches NY to NC/WV NORTH 46 acres, 15K sf CAROLINA reaches NC to TN/KY (Reidsville) *New in 2020, double capacity from prior plant SOUTH 39 acres, 29K sf CAROLINA reaches NC to FL/AL (Columbia) smithmidland.com | Investo
Slide 7: Concrete Safety Barrier Rental Division
Concrete Safety Barrier Rental Division Construction, Highway, & Event Security 250K linear feet fleet Expansion to 575K linear feet Shift to barrier rentals vs sales Higher margins of 25-35% Recurring revenues Stability of earnings and income Improved cash-flow cycle smithmidland.com | Investor Pre
Slide 8: Expanded Geographic Reach through Licensing
Expanded Geographic Reach through Licensing 75 Licenses Award-Winning Products 6% Royalty smithmidland.com | Investor Presentation June 2026 8
Slide 9: Infrastructure Spend Tailwinds Benefit Smith-Midland
Infrastructure Spend Tailwinds Benefit Smith-Midland • New MASH TL3 standard - all U.S. highway barrier mandated replacement over the next 4-6 years • J-J Hooks approved in California– 2nd most highway miles in U.S. • Low-profile barrier offers lower cost and easier installation • Accelerated spend
Slide 10: Trends Favoring Off-Site Precast Modular Construction
Trends Favoring Off-Site Precast Modular Construction • Macro trend to off-site modular construction • Shortened lead times • Reduced subcontractors • Minimization of carrying costs • Increased quality • Speed of installation • Aging construction workforce • Developer saves Time & Money • Less labor
Slide 11: Annual Revenue, Backlog
Annual Revenue, Backlog REVENUE BACKLOG (in millions) (in millions) $100.0 $70.0 $93.4 $92.3 $60.8 $59.2 $60.0 $53.1 $90.0 $52.4 $48.1 $50.0 $78.5 $80.0 Millions Millions $40.0 $30.9 $29.0 $70.0 $30.0 $19.6 $59.6 $20.0 $60.0 $50.6 $50.1 $10.0 $50.0 $46.7 $43.9 $0.0 $40.0 2019 2020 2021 2022 2023 202
Slide 12: Earnings per Share & EBITDA
Earnings per Share & EBITDA Earnings per Share EBITDA $2.50 $2.36 (in millions) $24.0 $1.99 $20.0 $2.00 $20.0 $17.7 $1.45 $1.45 $16.0 $1.50 $11.9 $12.7 $12.0 $1.00 $8.0 $6.4 $0.51 $0.50 $0.38 $4.4 $4.1 $4.0 $4.0 $0.15 $0.15 $0.00 $0.0 2019 2020 2021 2022 2023 2024 2025 TTM 2019 2020 2021 2022 2023 2
Slide 13: 2026 Outlook
2026 Outlook • Soundwall, Easi-Set/Easi-Span and Utility sales expected higher than 2025 • SlenderWall and Architectural panels sales similar to prior year • Barrier sales expected to be lower than 2025 reflecting rental strategy • Barrier rental income (ex special projects) higher in 2026 • Royalty
Slide 14: Investment Highlights
Investment Highlights Most widely used highway safety barrier Leading precast concrete manufacturer connection in the U.S. Patented products include J-J Hooks and EASI-SET Approved in 42 states, mandated replacement in 2030 Growing licensee base expanding Strategic shift to barrier rental model geog
Slide 15: Appendix
APPENDIX 540-439-3266 investors@smithmidland.com www.SmithMidland.com
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation TTM 2019 2020 2021 2022 2023 2024 2025 3/31/2026 Net income $1,959 $2,665 $7,570 $800 $795 $7,675 $12,506 $10,518 Adjustments: Depreciation & amortization 1,793 2,412 2,671 2,881 2,399 2,664 2,887 3,199 Income taxes 549 1,127 1,524 145 528 2,143 4,520 3,922 Total interest exp
Slide 17: Balance Sheet
Balance Sheet March 31, December 31, ASSETS 2026 2025 Current assets Cash $ 13,218 $ 11,884 Other current assets 38,397 36,863 Total current assets 51,615 48,747 Property and equipment, net 39,975 38,478 Other assets 605 504 Total assets $ 92,195 $ 87,729 LIABILITIES AND STOCKHOLDERS’ EQUITY Current