Valmont Industries, Inc. · NYSE:VMI
Valmont Industries — Investor Day (June 2026)
117 slides from Valmont Industries's investor day presentation, Jun 16, 2026
Slide 1: 2026 Investor Day
2026 INVESTOR DAY Tuesday, June 16, 2026
Slide 2: Welcome and Opening Remarks
Welcome and Opening Remarks Renee Campbell SVP, Capital Markets & Risk / Treasurer 2
Slide 3: Disclosure Regarding Forward-Looking Statements
Disclosure Regarding Forward-Looking Statements These slides (and the accompanying oral discussion) contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions made by management, considering its experience
Slide 4: Today's Agenda
Today’s Agenda 8:30 AM Welcome and Opening Remarks Renee Campbell | SVP, Capital Markets & Risk / Treasurer Turning Market Leadership Into Profitable Growth Avner Applbaum | President & Chief Executive Officer North America Utility Deep Dive Chris Colwell | President, Infrastructure Fireside Chat: U
Slide 5: Valmont
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Slide 6: Turning Market Leadership Into Profitable Growth
Turning Market Leadership Into Profitable Growth Avner Applbaum President & Chief Executive Officer 6
Slide 7: Resilient Utility Market Through 2030 Expected to Drive Growth
Resilient Utility Market Through 2030 Expected to Drive Growth Utility Industry Valmont North America Utility CapEx → SAM → Pipeline → Net Sales $1.4T $53B $6.7B $2.5B Cumulative CapEx Cumulative Highly Visible 2029E Net Sales Forecast1 Valmont TD&S 2026-2029E Valmont Market Opportunity Specific Pip
Slide 8: Stronger Foundation Primed for Growth: What You Will Hear Today
Stronger Foundation Primed for Growth 1 Built a more robust, efficient foundation through strategic investments, positioning us for accelerated growth WHAT Clearly Defined Utility Growth Strategy Expect YOU 2 Capturing above-market growth through market leadership, differentiated customer engagement
Slide 9: Valmont At-A-Glance
Valmont At-A-Glance | Trusted Partner for Global Infrastructure and Agriculture Markets 2025 Net Sales Omaha, NE $10B+ 5% South Headquarters Market Cap1 11% America APAC 25% Agriculture $538M | 13.1% 10% 74% EMEA By Geography North By Segment $4.1B 2025 Adjusted2 America 2025 Net Sales Operating Inc
Slide 10: Invested in Our Organization to Build a Stronger Foundation for Growth
Invested in Our Organization to Build a Stronger Foundation for Growth Better Mix, Higher Profitability, and Adjusted1 Operating Adjusted1 Diluted EPS Improved Throughput Cost Absorption Income ($M) & Margin +180 bps ~13% CAGR Refined and refocused portfolio $538 to maximize performance where we hav
Slide 11: Strong Financials Translated Into Outperformance for Shareholders
Strong Financials Translated Into Outperformance for Shareholders Total Shareholder Return1 154% VMI 93% 69% 72% S&P 500 66% 23% 1 Year 3 Years 5 Years 1 July 12, 2021 – June 12, 2026; Source: FactSet. 11
Slide 12: The Right Leadership Team in Place to Accelerate Growth
The Right Leadership Team in Place to Accelerate Growth… Avner John Chris Applbaum Schwietz Colwell President Chief Financial President, & CEO Officer Infrastructure Darryl Greg Jennifer Matthews Turi Paisley Group President, President, Chief People Agriculture Infrastructure Officer Sobha Eric Rene
Slide 13: Supported by an Experienced Board
…Supported by an Experienced Board with Relevant Industry Expertise Mogens Bay Richard Lanoha Chairman, Valmont Industries President & CEO, Kiewit Corporation Board Skills Human Resources Committee Board Leadership Catherine Paglia Paul Maass Industrial / Manufacturing Vice Chair of the Board and Le
Slide 14: Delivering Industry-Leading Solutions in Critical Markets
Delivering Industry-Leading Solutions in Critical Markets 2025 Net Sales in Millions INFRASTRUCTURE AGRICULTURE NA LIGHTING & IRRIGATION & NA UTILITY NA COATINGS NA TELECOM INTERNATIONAL TRANSPORTATION AG TECH $1,471 $236 $509 $293 $590 $1,021 Transmission, Finishing services, Lighting, Components,
Slide 15: Solving Some of the World's Greatest Challenges
Solving Some of the World’s Greatest Challenges Solving Some of the World’s Greatest Challenges INDUSTRY Rising Energy & Aging Infrastructure Productivity & CHALLENGE Connectivity Demand & Resilience Resource Efficiency VALMONT Infrastructure that expands Engineered solutions for Technology-enhanced
Slide 16: Positioned to Win Through Expertise and Reliability
Positioned to Win Through Expertise and Reliability Commercial Leadership in Industry-Leading Resilient Operational Durable Markets Engineering Foundation Deep industry & technical expertise 40+ years of utility structures High-value, integrated manufacturing and long-standing customer engineering e
Slide 17: Driving Long-Term Profitable Growth Through Key Value Drivers
Driving Long-Term Profitable Growth Through Key Value Drivers CAPTURE STRENGTHEN ENABLE Accelerate Unlock Deploy above-market efficiency & capital and growth in performance resources with Utility discipline 17
Slide 18: Proactively Capturing Significant, Multi-Year Opportunities in Utility
Proactively Capturing Significant, Multi-Year Opportunities in Utility STRATEGIC INITIATIVES CAPTURE Deepen Strategic Utility Partnerships to Accelerate Above-Market Revenue Growth Accelerate above market growth in Deploy Advanced Engineering to Solve Utility Complex Customer Challenges Expand Capac
Slide 19: Generating Greater Value From Our Strong Foundation
Generating Greater Value From Our Strong Foundation STRATEGIC INITIATIVES STRENGTHEN Advance Commercial Excellence Across Infrastructure Portfolio Unlock efficiency & performance Expand Agriculture Value Through Aftermarket, Ag Tech, and Emerging Markets Strengthen Engineering and Operational Capabi
Slide 20: Focused on Disciplined Allocation of Resources
Focused on Disciplined Allocation of Resources Aligned With Core Business Needs STRATEGIC INITIATIVES ENABLE Prioritize Capital Toward Highest-Return Growth Opportunities Deploy capital and resources with Utilize Strong Cash Flows and Liquidity to discipline Enhance Returns and Return Capital Align
Slide 21: Value Drivers: Delivering Long-Term Profitable Growth
Value Drivers: Delivering Long-Term Profitable Growth 2025 – 2029E Approximate Incremental Contribution Sales Adjusted1 Diluted EPS Capture Utility partnerships with key market 2029E Financial Above -Market leaders $1B $10 Outlook Growth in Utility Capacity and throughput expansions $5.4B Strengthen
Slide 22: A System Built to Convert Durable Demand Into Shareholder Value
A System Built to Convert Durable Demand Into Shareholder Value x = WHY WE WIN VALUE DRIVERS DURABLE Market Leadership & Capture Above-Market SHAREHOLDER Embedded Customer Growth in Utility VALUE Relationships Expect Strengthen to Unlock Industry-Leading Efficiency & to Achieve Engineering Performan
Slide 23: North America Utility Deep Dive
North America Utility Deep Dive Chris Colwell President, Infrastructure 23
Slide 24: North America Utility Driving Valmont's Next Chapter of Profitable Growth
North America Utility Driving Valmont’s Next Chapter of Profitable Growth Uniquely Positioned for Durable, Multi -Year Growth Multiple strong market drivers represent unprecedented climate of growth Differentiated Capabilities Enable Outperformance Driving outperformance in a growing market through
Slide 25: Capturing Growth in North America Utility and Coatings
Capturing Growth in North America Utility and Coatings 2025 Net Sales in Millions NA Utility Sales1 12% 13% Distribution Substation INFRASTRUCTURE NA LIGHTING & NA UTILITY NA COATINGS TRANSPORTATION NA TELECOM INTERNATIONAL By Product $1,471 $236 $509 $293 $590 Transmission, Finishing Lighting, Comp
Slide 26: Market Strength
Market Strength Unprecedented Climate of Growth 26
Slide 27: We Are at the Center of the North American Utility Ecosystem
We Are at the Center of the North American Utility Ecosystem WHERE WE PLAY TODAY Power Businesses, Generation Transmission Substations Distribution Homes, etc. ~40% Market Share1 ~30% Market Share1 <5% Market Share1 High & extra-high voltage Steel structures, Steel, concrete, & steel structures pack
Slide 28: Rising Load and Grid Resiliency Needs Driving Investment
Rising Load and Grid Resiliency Needs Are Driving Long-Term Transmission and Infrastructure Investment LOAD GROWTH & GRID HARDENING & SUSTAINED UTILITY EXPANSION RESILIENCY CAPITAL INVESTMENT Data Centers Replacement Utilities are AI-driven demand increasing Grid optimization and baseload requiremen
Slide 29: Fireside Chat: Utility Market Drivers
Fireside Chat Utility Market Drivers Joe Ulrich Jean Rollins VP / GM, Senior Advisor, North America Utility Power Insights 29
Slide 30: Growing Electricity Demand Requires Significant Transmission Expansion
Growing Electricity Demand Requires Significant Transmission Expansion Load Growth Capacity Needs Line Miles Needed Demand Growth1 Installed Capacity TWh GW Load growth & generation capacity Data centers Solar / wind will be supported by Transmission & Traditional electrification Rest Substation bui
Slide 31: Announced Transmission Projects Indicate Sustained Infrastructure Buildout
Announced Transmission Projects Indicate Sustained Infrastructure Buildout Announced Transmission Line Miles1 Transmission Expansion Aligns With Valmont’s Core Market 16 14 Significant announced transmission 12 project activity through 2030 Thousands 10 8 Majority of planned line miles 6 fall at or
Slide 32: Utilities Expected to Invest ~$1.4T in Grid Infrastructure Through 2030
Utilities Are Expected to Invest ~$1.4T in Grid Infrastructure Through 20301 Estimated CapEx Investment1 ($Bn) Factors Extending the Spend Cycle Generation TD&S Other +5% Critical Equipment Availability p.a. Long lead-time equipment remains 400 supply constrained Thousands +6% p.a. Labor Availabilit
Slide 33: Utility Investment Is Expanding Valmont's Addressable Market
Utility Investment Is Expanding Valmont’s Addressable Market Cumulative Utility CapEx & Valmont SAM 2026 – 2030 Other Labor Transmission 2026 – 2030 Distribution ~$1.4T ~$644B 8% ~$53B $8B - $13B TD&S Total Utility Total Utility TD&S Poles Total Valmont Infrastructure TD&S SAM2 CapEx1 Yearly SAM 46%
Slide 34: Strong Utility Relationships Provide Meaningful Demand Visibility
Strong Utility Relationships Provide Meaningful Demand Visibility $6.7B Highly Visible 2026-2029E Valmont Specific Pipeline → Long-Term Alliance Siting & Utility Capital Regional Planning + Partnerships + Engineering + Deployment High-level grid Strong alliance Work closely Understanding planning an
Slide 35: Resilient Market Through 2030 Expected to Drive Valmont Growth
Resilient Market Through 2030 Expected to Drive Valmont Growth Market Drivers → Utility Investment → Valmont Opportunity 10% Valmont Transmission, Load growth, resiliency, Distribution, & 300+ GW 65k Substation and expansion Generation Incremental SAM Growth growth line miles Demand Cumulative Valmo
Slide 36: Valmont Competitive Advantages and Strategy
Valmont Competitive Advantages and Strategy Our Unique Right to Win 36
Slide 37: Sustainable Competitive Advantages – Industry-Leading Capabilities
Sustainable Competitive Advantages – Industry-Leading Capabilities Trusted partner long history of demonstrated performance and quality Diversified North Strong engineering American manufacturing and technical capabilities and footprint capabilities at scale Experienced Commercial Breadth of product
Slide 38: Driving Long-Term Profitable Growth: Capture
Driving Long-Term Profitable Growth Through Key Value Drivers CAPTURE Accelerate above-market growth in Utility 38
Slide 39: Differentiated Utility Customer Model
Differentiated Utility Customer Model Driving Profitability and Capacity Efficiency Through Long-standing relationships built Customer Partnerships on quality, reliability, and delivery ALLIANCE CONTRACTS PROVIDE BASELOAD VOLUME Top 20 IOUs account Trusted partner to for 40% of Industry industry -le
Slide 40: Drive Innovation to Solve Customers' Complex Needs
Drive Innovation to Solve Customers’ Complex Needs ST RA T EG IC INIT IA T IVES K EY OUT COMES & G OA LS Aligning portfolio Partnering with customers Market Alignment with evolving to develop high-impact market demands solutions Customer Impact Developing scalable Accelerating innovation Scalable Gr
Slide 41: Solving Complex Customer Problems | OPPD
Solving Complex Customer Problems | OPPD 41
Slide 42: Scaling Profitably: Increasing System Throughput
Scaling Profitably Increasing System Throughput 42
Slide 43: Investing in the Utility System to Capture $1B of Incremental Revenue
Investing in the Utility System to Capture $1B of Incremental Utility Revenue by 2029E Investing in the Utility System to Capture $1B of Incremental Utility Revenue by 2029E FRONT END BACK END OUTCOMES Engineering Materials Planning Footprint Strong ROI on utilization & brownfield flexibility projec
Slide 44: Fireside Chat: Innovation & Operational Excellence
Fireside Chat Innovation & Operational Excellence Shannon Eggert Amit Blesser SVP Operations, Chief AI & Digital North America Transformation Infrastructure 44
Slide 45: Flexible Manufacturing to Meet Our Customers' Needs
Flexible Manufacturing to Meet Our Customers’ Needs ST RA T EG IC F OOT PR INT EXECUT ION Leveraging scale and flexibility across 16 Utility manufacturing facilities in North America Adding capacity and throughput into our operations Operational network allows us to support a diverse and variable pr
Slide 46: Disciplined Operating System Built to Capture Market Demand
Disciplined Operating System Built to Capture Market Demand Engineering Sales & Operations Supply Chain Engaged Advanced Enhanced Processes Planning Execution Workforce & Manufacturing Capital Deployment → → → → → Discipline Strong Culture Technology Process Reliable and Deliver reliable Build resil
Slide 47: Master Scheduling with AI
Master Scheduling with AI Implementation progressing Unlocking Throughput Across Our Manufacturing Footprint in multiple Utility facilities Up to 5% TRADITIONAL SCHEDULING AI SCHEDULING directional throughput potential without additional labor or equipment Fixed Planning Logic Dynamic Scheduling Pla
Slide 48: Accelerating Engineering Productivity at Scale
Accelerating Engineering Productivity at Scale Leveraging Decades of Proprietary Engineering Knowledge Estimated Document Design Quality 15% Intelligence Search Validation Engineering Productivity Highlight Build on Automate Improvement Potential relevant existing engineering requirements designs re
Slide 49: Optimizing Supply Chain Performance
Optimizing Supply Chain Performance Aligning Materials, Inventory, and Production Through AI INVENTORY SMARTER CONNECTED OPTIMIZATION PROCUREMENT OPERATIONS Driving Inventory Efficiency, Better Purchasing Decisions, and Operational Responsiveness 49
Slide 50: Optimizing the Operating System with AI
Optimizing the Operating System with AI Engineering Sales & Supply Chain Engaged Advanced Enhanced Processes Operations Execution Workforce & Manufacturing Capital Planning Strong Culture Technology Deployment Discipline Process → More More More Scalable Responsive Capital Efficient Building a More
Slide 51: Capacity Expansion Through Optimizing Factory Flow
Capacity Expansion Through Optimizing Factory Flow S T R A T EG IC INIT IA T IVE | Removing bottlenecks, improving material handling, reflow fit and weld, and increasing equipment utilization Utilizing advanced manufacturing technology Predicting and proactively addressing constraints Enhancing fact
Slide 52: Capacity Expansion Through High-Return Brownfield Opportunities
Capacity Expansion Through High-Return Brownfield Opportunities S T R A T EG IC INIT IA T IVE | Fully utilizing high-value assets and deploying advanced manufacturing Adding roofline and/or new facilities on existing land Leveraging experienced site leadership and workforce Existing customer approva
Slide 53: Driving Innovation in Manufacturing | Brenham, TX
Driving Innovation in Manufacturing | Brenham, TX Driving Innovation in Manufacturing | Brenham, TX 53
Slide 54: Path to Success: Value Creation Flow
Path to Success Value Creation Flow 54
Slide 55: Value-Creation Bridge: How $1B Revenue Becomes $10 EPS
Value-Creation Bridge: How $1B Revenue Becomes $10 EPS Value-Creation Bridge: How $1B Revenue Becomes $10 EPS Turning Market Leadership Into Value Through Disciplined Capacity Deployment And Margin Execution 2025 – 2029E ~$1B ~$10 Incremental Utility Sales EPS Contribution1 1 2 3 4 DEMAND CAPACITY
Slide 56: North America Utility Outlook
North America Utility Driving Valmont’s Next North America Utility Outlook Chapter of Profitable Growth 2025 – 2029E ~$2.5B Uniquely Positioned for Multi -Year Growth 13%+ CAGR 2029E Sales Differentiated Capabilities Enable Outperformance $6.7B Highly Visible Trusted Partnerships and Innovation Crea
Slide 57: Driving Continuous Improvement Across Infrastructure Portfolio
Driving Continuous Improvement Across Infrastructure Portfolio Greg Turi President, Infrastructure 57
Slide 58: Scaling Proven Infrastructure Operating Model
Scaling Proven Infrastructure Operating Model Critical Infrastructure Markets Support Consistent Growth Diversified portfolio supporting connectivity, resiliency, safety, and energy create long-term market opportunities Strong Foundation of Premium Market Positions Market leadership, customer relati
Slide 59: Driving Efficiency Across Diverse Infrastructure Portfolio
Driving Efficiency Across Diverse Infrastructure Portfolio 2025 Net Sales in Millions Global Infrastructure Leader Sustainable demand driven by infrastructure replacement, transportation safety, connectivity, and resiliency INFRASTRUCTURE Earned premium positions NA UTILITY NA COATINGS NA LIGHTING &
Slide 60: Competitive Advantages Translate Into Higher-Quality Growth and Returns
Competitive Advantages Translate Into Higher-Quality Growth and Returns Premium market leadership positions Technical expertise and Customer -centric problem innovative products solving and solutions Global manufacturing, Reliable supply chain, and operations, execution, sourcing scale and speed-to-
Slide 61: Driving Long-Term Profitable Growth: Strengthen
Driving Long-Term Profitable Growth Through Key Value Drivers STRENGTHEN Unlock efficiency & performance 61
Slide 62: Disciplined Execution Across a Diverse Infrastructure Portfolio
Disciplined Execution Across a Diverse Infrastructure Portfolio Success Metrics Commercial Focus resources on where returns Product line Excellence are highest management Building a Scalable, 1 Optimize mix and value-based pricing model, deployed Strengthen product across the Higher-Return line mana
Slide 63: Case Study | Telecom Components
Case Study | Telecom Components Implementation of Operating Model in 2024 Has Delivered Customer Benefits & Operational Efficiency Commercial Focused on driving customer specification position and pushing Excellence voice of customer to launch innovative premium products Industry -Leading Industry-l
Slide 64: Value-Creation Bridge: How Infrastructure Portfolio Contributes $3 EPS
Value-Creation Bridge: How Infrastructure Portfolio Contributes $3 EPS Value-Creation Bridge: How Infrastructure Portfolio Contributes $3 EPS Durable Demand, Combined with Disciplined Focus on Customer Value and Resource Allocation, Drives Operating Leverage 1 DEMAND Growing at low-to-mid single d
Slide 65: Well-Positioned to Win in Infrastructure
Well-Positioned to Win in Infrastructure Infrastructure Outlook 2025 – 2029E Critical Infrastructure Markets Support Consistent Growth ~$200M Incremental Sales Strong Foundation of Premium Market Positions Applying a Proven Operating Model Expands Margins and Returns ~$3 Incremental EPS1 Unlocking t
Slide 66: Q&A
Q&A 66
Slide 67: Break
Break 67
Slide 68: Enabling Enhanced Productivity With Leading Agriculture Solutions
Enabling Enhanced Productivity With Leading Agriculture Solutions Darryl Matthews Group President, Agriculture 68
Slide 69: Agriculture Driving Long-Term Value Creation
Agriculture Driving Long-Term Value Creation Structural Tailwinds Support Long -Term Growth Global food demand and resource constraints drive sustained need for higher agricultural productivity Leader in Irrigation, Positioned to Win Market-leading irrigation platform and best-in-class dealer networ
Slide 70: Agriculture Overview
Agriculture Overview 2025 Agriculture Sales Mix 2025 Adjusted1 Operating Income ($M) & Margin 50% International $138 $1012 14.8% $1.0B Q1’26 Operating Margin 25% of Valmont Sales 12.8% 9.9% 50% North America 2024 2025 Leveraging Unique Position in Global Agriculture Market to Deliver Leading Irrigat
Slide 71: Agriculture Portfolio Overview
Agriculture Portfolio Overview Products 2025 Agriculture Sales Irrigation Equipment Center pivot, linear, and corner machines 26% 74% Aftermarket Parts & Irrigation International sales and large-scale projects Technology Services Equipment Turnkey design and project management Tubular products After
Slide 72: Well-Positioned to Capture Long-Term Secular Growth Drivers
Well-Positioned to Capture Long-Term Secular Growth Drivers Largest Irrigation Installed Base Growing population and increased $2.5B SAM Global Market protein consumption are driving Over 130 million tons food and feed growth globally of additional feed production Other Regional by 2034 to supply in
Slide 73: Pivot Irrigation as a Scalable, High-Efficiency Solution
Pivot Irrigation as a Scalable, High-Efficiency Solution Delivering optimal balance of efficiency, scalability, and return on investment for agriculture PIVOT IRRIGATION ADVANTAGES Higher water-use efficiency Reduced labor intensity 38 % vs. other types of irrigation Improved yield consistency and o
Slide 74: Global Valmont Agriculture Market Opportunity
Global Valmont Agriculture Market Opportunity Valley® North American Center Pivot North America International “Replacement” Sales as a Percentage of Total Sales NEAR Current pivot demand is near a Credit headwinds persist in TERM historical floor, a level reached Brazil, but long-term growth only fi
Slide 75: Sustainable Competitive Advantages – Industry-Leading Capabilities
Sustainable Competitive Advantages – Industry-Leading Capabilities Unmatched dealer network with over 600 dealer locations around the world Differentiated, high Driving innovation and increasing quality technology farmer productivity through water products optimization, uptime, and operating time Le
Slide 76: Driving Long-Term Profitable Growth: Strengthen
Driving Long-Term Profitable Growth Through Key Value Drivers STRENGTHEN Unlock efficiency & performance 76
Slide 77: Installed Base of >250k Pivots Drives Aftermarket and Technology Growth
Installed Base of >250k Pivots Globally Drives Aftermarket and Technology Growth ST RA T EG IC INIT IA T IVES K EY OUT COMES & G OA LS Technology | Drive Growth Globally Double-digit growth in annual Leverage strong market position with 40% global connected recurring revenue penetration Capture gro
Slide 78: Proactive Machine Diagnostics Drives Technology & Aftermarket
Proactive Machine Diagnostics Drives Technology & Aftermarket 78
Slide 79: Case Study | Proactive Machine Diagnostics
WIP: Update content as needed Case Study | Proactive Machine Diagnostics Providing Our Customers With Greater Insights to Maximize Productivity and Lower Costs BACKGROUND / INDUSTRY NEED UNIQUE VALMONT SOLUTION Difficult to detect mechanical issues Valley® Machine Diagnostics, integrated costing tim
Slide 80: Case Study | Irrigation Scheduling
Case Study | Irrigation Scheduling BACKGROUND / INDUSTRY NEED UNIQUE VALMONT SOLUTION Rising energy costs and ongoing Implemented advanced Valley® drought conditions across Brazil Irrigation Scheduling and precision management across 23 pivots Large-scale operation 5,000-acre Terra Roxa farm relying
Slide 81: Capitalize on Increasing Emerging Market-Growth Opportunities
Capitalize on Increasing Emerging Market-Growth Opportunities CAPTURING DEMAND DRIVERS IN KEY MARKETS WITH OPPORTUNITY FOR BROADER GLOBAL EXPANSION STRATEGIC INITIATIVES Expanding irrigation projects in Brazil 6X emerging markets Largest long-term market Market potential, as given low penetration Br
Slide 82: Value-Creation Bridge: How Ag Contributes $2 EPS
Value-Creation Bridge: How Ag Contributes $2 EPS Value-Creation Bridge: How Ag Contributes $2 EPS Sustainable Demand, Recurring Revenue Opportunities, and Technology Adoption Drive Earnings 1 DEMAND Pivot replacement cycle 2025 – 2029E Recurring aftermarket parts 2 INSTALLED BASE on 250k+ Valley® pi
Slide 83: Agriculture Outlook
Agriculture Driving Long-Term Value Creation Agriculture Outlook 2025 – 2029E Mid-Teens Structural Tailwinds Support Long -Term Growth Operating Margin Baseline Scenario (High-Teens Mid-Cycle Potential) Leader in Irrigation, Positioned to Win ~$2 Incremental EPS1 Margin -Accretive Growth From Afterm
Slide 84: Generating Lasting Shareholder Value
Generating Lasting Shareholder Value John Schwietz Chief Financial Officer 84
Slide 85: Clear Path to Deliver $35 EPS
Clear Path to Deliver $35 EPS Building on a Strong Foundation for Continued Profitable Growth Optimized platform enabling durable, high-quality earnings growth Driving Organic Revenue Growth Capturing strong utility market demand with strategic investments and commercial excellence Expanding Stru
Slide 86: Optimized Platform Driving Higher-Quality Growth and Earnings Power
Optimized Platform Driving Higher-Quality Growth and Earnings Power Net Sales ($M) Adjusted1 Operating Income ($M) Adjusted1 Diluted EPS and Margin $633 $4,300 $22.50 $4,175 $4,104 $4,075 $525 $538 $19.09 $17.19 $473 $14.98 11.3% 12.9% 13.1% 14.7% 2023 2024 2025 2026 2023 2024 2025 2026 2023 2024 20
Slide 87: Robust Operating Cash Flow Generation
Robust Operating Cash Flow Generation Operating Cash Flow ($M) Continuing to Drive $700 Cash Generation $600 $573 Commercial and $456 operational excellence driving margin expansion $500 $307 $400 Focused on cash conversion cycle through $300 $200 working capital $100 optimization $- Disciplined app
Slide 88: Exceptional Balance Sheet Creates Substantial Strategic Flexibility
Exceptional Balance Sheet Creates Substantial Strategic Flexibility As of March 28, 2026 Debt Maturity Profile Debt and Capitalization ($M) Well-positioned for future growth Available Credit Under Revolving Facility through strong liquidity Drawn Revolving Credit Facility Interest-Bearing Debt $8
Slide 89: Disciplined Capital Allocation Strategy Aligned With Core Business Needs
Disciplined Capital Allocation Strategy Aligned With Core Business Needs 2025 OPERATING CASH FLOW ALLOCATION CAPITAL ALLOCATION PRIORITIES Operating capital investment to support organic 1 10% growth, primarily for Utility 30% 50% 50% Programmatic share repurchases strategy to 2 enhance long term sh
Slide 90: Value Drivers: Delivering Long-Term Profitable Growth
Value Drivers: Delivering Long-Term Profitable Growth 2025 – 2029E Approximate Incremental Contribution Sales Adjusted1 Diluted EPS Capture Utility partnerships with key 2029E Financial market leaders Above -Market Capacity and throughput $1B $10 Outlook Growth in Utility expansions Drive strategic
Slide 91: Opportunities for Growth Beyond $35 EPS
Opportunities for Growth Beyond $35 EPS Actions Driving Incremental Opportunity Full Stack 2029E to Full Stack 2029 Financial Outlook Adjusted Diluted EPS Outlook Capture Additional Utility growth Above -Market $35+ Growth in Utility Throughput actions outperform $35 Strengthen to Mid-cycle growth i
Slide 92: 2026-2029 Cash Flow and Balance Sheet Flexibility Supports Capital Deployment
2026-2029 Cash Flow and Balance Sheet Flexibility Supports Capital Deployment Capacity $ in Billions $1.2 $2.7 Key Capital Allocation $2.5 $1.0 Highlights Revolver Maintenance Flex Up Strong earnings supports meaningful cash flow generation Growth Revolver CapEx $1.5 Balance sheet strength provides
Slide 93: Financial Outlook Summary
Financial Outlook Summary Net Sales ($B) Operating Margin KEY ASSUMPTIONS +7.1% +390 $5.4 17.0% $4.1 CAGR 13.1% bps Utility market growth Continued softness in agriculture markets 2025 2029E 2025 Adj.1 2029E ~26% tax rate Diluted EPS ROIC Does not include M&A +16.4% $35.00 +340 21.0% or balance shee
Slide 94: Closing Remarks
Closing Remarks Avner Applbaum President & Chief Executive Officer 94
Slide 95: A System Built to Convert Durable Demand Into Shareholder Value
A System Built to Convert Durable Demand Into Shareholder Value x = WHY WE WIN VALUE DRIVERS DURABLE Market Leadership & Capture Above-Market SHAREHOLDER Embedded Customer Growth in Utility VALUE Relationships Expect Strengthen to Unlock Industry-Leading Efficiency & to Achieve Engineering Performan
Slide 96: Valmont
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Slide 97: Q&A
Q&A 97
Slide 98: Appendix
Appendix 98
Slide 99: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures Management utilizes non-GAAP financial measures to assess the Company’s historical and prospective financial performance, evaluate operational profitability on a consistent basis, factor into executive compensation decision
Slide 100: Full-Year 2026 Financial Outlook
Full-Year 2026 Financial Outlook April 21, 2026 Outlook ~Y/Y Key Assumptions Net Sales $4.2B to $4.4B 2.5% to 7% • Capital Expenditures to be between $170 to $200 million Infrastructure $3.3B to $3.45B 7% to 12% Net Sales • Effective tax rate to be ~26.0% Agriculture • Steel cost assumptions are a
Slide 101: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands, Except Per-Share Amounts 1 Earnings per share includes rounding. 2 The tax effect of adjustments is calculated based on the income tax rate in each applicable jurisdiction. 101
Slide 102: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands 102
Slide 103: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands 103
Slide 104: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands 104
Slide 105: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands 105
Slide 106: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In Thousands 106
Slide 107: Leadership Bios
Leadership Bios 107
Slide 108: Avner Applbaum
Avner Applbaum President & Chief Executive Officer Avner Applbaum is the President and Chief Executive Officer of Valmont, leading a team of 11,000 employees working in more than 20 countries. Under his leadership, Valmont delivers engineered structures that support critical infrastructure globally,
Slide 109: Chris Colwell
Chris Colwell President, Infrastructure Chris Colwell is President of Infrastructure at Valmont, leading the company’s North America Utility, Lighting & Transportation, and Coatings businesses, driving the strategic direction for product development, manufacturing and market expansion. Chris brings
Slide 110: Joe Ulrich
Joe Ulrich VP/GM North America Utility Joe Ulrich is Valmont's Vice President and General Manager of North America Utility, accountable for driving the strategic direction for product management, demand generation, and project execution for our valued customers. Joe brings deep market expertise and
Slide 111: Jean Rollins
Jean Rollins Senior Advisor, Power Insights Jean Rollins is a recognized leader in utility infrastructure forecasting and power sector strategy, with more than three decades of experience advising utilities, energy infrastructure companies, investors, and industrial manufacturers across North Americ
Slide 112: Shannon Eggert
Shannon Eggert SVP Operations, North America Infrastructure Shannon Eggert is Senior Vice President of North America Operations for Valmont, with responsibility for approximately 4,900 employees supporting $2.0 billion in annual revenue across the company's North American infrastructure manufacturin
Slide 113: Amit Blesser
Amit Blesser Chief AI & Digital Transformation Amit Blesser is Valmont's Chief AI and Digital Transformation, responsible for advancing the company's artificial intelligence strategy and accelerating digital transformation initiatives across the enterprise. He partners with business and technology l
Slide 114: Greg Turi
Greg Turi President, Infrastructure Greg Turi is President of Infrastructure at Valmont, leading the company’s Telecom and international infrastructure businesses. He brings a strong background in engineering and commercial leadership to the role, guiding teams that leverage deep market and industry
Slide 115: Darryl Matthews
Darryl Matthews Group President, Agriculture Darryl Matthews is Group President of Agriculture at Valmont, leading the strategic direction of the company’s Agriculture segment. He is responsible for advancing the Valley® Irrigation brand, strong dealer and customer partnerships and technology integr
Slide 116: John Schwietz
John Schwietz Chief Financial Officer John Schwietz is Valmont's Chief Financial Officer, accountable for the company’s global financial strategy and core finance functions. As a member of the executive leadership team, he works closely with leaders across the organization to support disciplined cap
Slide 117: Renee Campbell
Renee Campbell SVP, Capital Markets & Risk / Treasurer Renee Campbell is Senior Vice President, Capital Markets & Risk / Treasurer at Valmont. She supports the company’s long-term growth strategy, leading the investor relations function, overseeing capital structure and treasury operations, and driv