Slide 1: Investor Presentation July 10, 2025
Investor Presentation • July 10, 2025 (NYSE: AZZ)
Slide 2: Disclaimers
2 INVESTOR PRESENTATION Disclaimers Cautionary Statements Regarding Forward Looking Statements — Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform A
Slide 3: Why Invest in AZZ?
3 INVESTOR PRESENTATION Why Invest in AZZ? Differentiated, high value-add metal coatings provider with scale, expertise and customer centric technology uniquely positioned to serve the growing North American steel and aluminum markets Strong business foundation capable of growing sales and margins a
Slide 4: AZZ Snapshot
4 INVESTOR PRESENTATION 46% 54%57% 43% Segment Sales3 Segment Adj. EBITDA3 AZZ is North America’s leading independent post- fabrication hot-dip galvanizing & coil coating solutions company with #1 positions in both markets AZZ Precoat MetalsAZZ Metal Coatings (1) 42 galvanizing locations and 4 surfa
Slide 5: AZZ's Strategic Journey
5 INVESTOR PRESENTATION AZZ’s Strategic Journey 2 2013-2018 Optimized Legacy Footprint • Improved capabilities and profitability of Metal Coatings • Combined Electrical and Industrial assets into one operating segment (infrastructure Solutions) 2019-2022 Strategic Transformation – Positioning for th
Slide 6: Achievements Against Stated Commitments
6 INVESTOR PRESENTATION Achievements Against Stated Commitments 2 ✓ Commitments Achievements to Date • Maintain net leverage target range of 1.5X -2.5X • Total net leverage of 1.7x1 • Preliminary FY26E Adj. EBITDA2 guidance of $360-400 million • Adj. EBITDA Margin of 22.6% at mid-point of guidance2
Slide 7: Mission-Driven, Experienced Management Team
7 INVESTOR PRESENTATION Tom Ferguson President and Chief Executive Officer David Nark Chief Marketing, Communications and Investor Relations Officer Tara Mackey Chief Legal Officer Chris Bacius Vice President Business Development Jeff Vellines President & COO Precoat Metals Bryan Stovall President &
Slide 8: End Markets & Drivers
8 INVESTOR PRESENTATION 8 End Markets1 & Drivers 55% 9% 7% 9% 11% (1) Based on AZZ Q1 FY2026 results ended May 31, 2025
Slide 9: Uniquely Positioned to Capitalize on Generational Infrastructure Investment in U.S.
9 INVESTOR PRESENTATION 9 Uniquely Positioned to Capitalize on Generational Infrastructure Investment in U.S. Source: American Infrastructure Investment and Jobs Act
Slide 10: Operating Segments Overview
10 INVESTOR PRESENTATION Operating Segment Production Route Value-Added Capabilities Market Size and Share2 Historical Adjusted EBITDA Performance3 ($ in millions) Metal Coatings Precoat Metals Batch Processing Continuous Processing Hot-Dip Galvanizing Spin Galvanizing Powder Coating Plating Anodizi
Slide 11: Strategic Value Proposition Built on Common Business Models
11 INVESTOR PRESENTATION Strategic Value Proposition Built on Common Business Models Standout Market Leaders with Best-in-Class Financial Profiles Proprietary Systems Driving Efficiencies in Operations, Procurement, Supply Chain, IT and Back Office Tolling Based Businesses with Minimal Commodity and
Slide 12: Metal Coatings Value Proposition
12 INVESTOR PRESENTATION Technology: Digital Galvanizing System (DGS) provides customers with near real-time updates and operational efficiencies Metal Coatings Value Proposition Key Value Propositions ✓ Embracing Complexity: Quick turns on special projects to meet demanding customer schedules✓ Valu
Slide 13: Metal Coatings Footprint
13 INVESTOR PRESENTATION Metal Coatings Footprint Well-Positioned to Serve Key End-Markets Superior Capabilities Enable Leading Position Across All End-Markets2 North America’s leading post-fabrication hot-dip galvanizer with unmatched competitive moat Spin GalvanizingHot-Dip Galvanizing Powder Coat
Slide 14: Metal Coatings Historical Financials
14 INVESTOR PRESENTATION Metal Coatings Historical Financials $458 $519 $637 $656 $665 $676 FY21 FY22 FY23 FY24 FY25 TTM $126 $157 $189 $197 $205 $212 27.6% 30.3% 29.7% 30.0% 30.7% 31.4% FY21 FY22 FY23 FY24 FY25 TTM 1 Sales Historical Performance ($ in millions) 11 Adjusted EBITDA2 % Margin (1) TTM
Slide 15: Precoat Metals Value Proposition
15 INVESTOR PRESENTATION Precoat Metals Value Proposition Key Value Propositions Technology: Coilzone provides customers with near real-time access to inventory, production and shipping information generating operational efficiencies ✓ Embracing Complexity: Quickly accommodate customer needs by offe
Slide 16: Precoat Metals Footprint
16 INVESTOR PRESENTATION Precoat Metals Footprint Well-Positioned to Serve Key End-Markets Critical Service Provider to Diverse End-Markets2 Construction (79%) Appliance (6%) Transportation (3%)Container (4%)HVAC (3%) Industry leader with entrenched advantages as a unique independent toll coater Sta
Slide 17: Precoat Metals Historical Financials
17 INVESTOR PRESENTATION Precoat Metals Historical Financials $605 $710 $882 $881 $913 $911 FY21 FY22 FY23 FY24 FY25 TTM5 $115 $155 $165 $168 $179 $180 18.9% 21.8% 18.7% 19.0% 19.6% 19.8% FY21 FY22 FY23 FY24 FY25 TTM Sales Adjusted EBITDA3 ($ in millions) Historical Performance 13 % Margin Note: FY
Slide 18: Investing in Future Growth: New Aluminum Coil Coating Line
18 INVESTOR PRESENTATION Enables AZZ to benefit from secular shift to aluminum cans Run-rate contracted sales of $50+ million exiting FY 2026 at an EBITDA margin above Precoat overall margin ROIC well in excess of cost of capital Long-term contractual customer commitment for 75% of the new capacity
Slide 19: Technology Transformation – A Key Differentiator
19 INVESTOR PRESENTATION Digital Galvanizing System (DGS) is a distinct competitive advantage - Near elimination of paper with proprietary, state-of-the-art tool linked to Oracle ERP system - Fully integrated; Allows real-time decisions and enhanced customer experience - Provides real-time order sta
Slide 20: Investing in Future Growth: Sustainability
20 INVESTOR PRESENTATION 20 Investing in Future Growth Sustai ability • Sustainability is intrinsic to our products as both hot-dip galvanized steel and coil coated steel and aluminum are 100% recyclable • Hot-dip galvanized steel is an infinitely renewable building material and used in renewable en
Slide 21: Consistent Top-Line Growth and Profitability
21 INVESTOR PRESENTATION $126 $157 $189 $197 $205 $212 $115 $155 $165 $168 $179 $180 22.7% 25.4% 23.3% 23.7% 24.4% 24.7% FY21 FY22 FY23 FY24 FY25 TTM Precoat MetalsMetal Coatings ($ in millions) COVID Year COVID Year $458 $519 $637 $656 $665 $676 $605 $710 $882 $881 $913 $911 FY21 FY22 FY23 FY24 FY2
Slide 22: AZZ's Attractive Financial Metrics Relative to Related Industrial Companies
22INVESTOR PRESENTATION 10.2% 11.2% 12.5% 18.1% 15.1% AZZ Coatings Building Products Service Centers Steel Mills 4.4% 1.0% 0.9% (2.3%) (2.7%) AZZ Coatings Building Products Service Centers Steel Mills AZZ’s Attractive Financial Metrics Relative to Related Industrial Companies CY23A – CY25E Revenue G
Slide 23: Impactful Deleveraging Post Transformational Acquisition
23 INVESTOR PRESENTATION Q2 FY23 Q2 FY24 Impactful Deleveraging Post Transformational Acquisition Net Leverage Since Precoat Metals Acquisition1 Note: Financials exclude AIS in which AZZ divested 60% into a joint venture in September 2022 (1) Reflects net leverage inclusive of credit agreement-relat
Slide 24: AZZ - Proven Resilience Through Prior Cycles
INVESTOR PRESENTATION 24 AZZ - Proven Resilience Through Prior Cycles 17 Metal Coatings EBITDA Precoat Metals EBITDA $51 $81 $85 $85 $98 $51 $59 $42 $57 $71 $102 $140 $127 $142 $169 CY 2007 CY 2008 CY 2009 CY 2010 CY 2011 Modest Decline (9%) Strong Recovery +15% CAGR ($ in millions)Limited exposure
Slide 25: Our Capital Allocation Priorities
25 INVESTOR PRESENTATION Our Capital Allocation Priorities Return Capital Committed to sustaining dividends Manage Leverage(1) Net Leverage target range of 1.5x – 2.5x High ROIC Investments Organic growth, Strategic customer partnerships & Productivity Improvements Strategic M&A Bolt-on acquisitions
Slide 26: FY 2026 Updated Guidance
26 INVESTOR PRESENTATION FY 2026 Updated Guidance(1) Sales $1.625 - $1.725 billion Adjusted EBITDA(2) $360 - $400 million EPS Range $5.75 - $6.25 (1) FY2026 Guidance Assumptions: The newly built Washington, Missouri plant is expected to be operational in the first half of FY2026, and accretive to ea
Slide 27: Why Invest in AZZ?
27 INVESTOR PRESENTATION Why Invest in AZZ? Differentiated, high value add metal coatings provider with scale, expertise and customer centric technology uniquely positioned to serve the growing North American steel and aluminum markets Strong business foundation capable of growing sales and margins
Slide 28: Appendix
Appendix
Slide 29: Reg "G" Tables
Reg “G” Tables
Slide 30: Net Leverage Calculations
30 INVESTOR PRESENTATION Net Leverage Calculations The table presented above is an excerpt from the Company’s Q1 FY2026 financial results found in the Company’s 10Q filed 07/09/2025. Please see page 34 of this presentation for footnotes. Debt Leverage Ratio Reconciliation
Slide 31: Non-GAAP Disclosure of Adjusted EBITDA
Non-GAAP Disclosure of Adjusted EBITDA 31 The table presented above is an excerpt from the Company’s Q1 FY2026 results found in the Company’s 10Q filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes.
Slide 32: Non-GAAP Disclosure of Adjusted Net Income and Adjusted EPS
Non-GAAP Disclosure of Adjusted Net Income and Adjusted EPS 32 The table presented above is an excerpt from the Company’s Q1 FY2026 results found in the Company’s 10Q filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes.
Slide 33: Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals)
Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals) 33 The tables presented above are an excerpt from the Company’s FY2025 results found in the Company’s 10K filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes.
Slide 34: Notes for Non-GAAP Disclosure Slides
Notes for Non-GAAP Disclosure Slides 34
Slide 35: Slide 35