Npk International Inc. · NYSE:NPKI
Npk International — Q2 2025 Earnings Presentation
32 slides from Npk International's earnings presentation, Aug 6, 2025
Slide 1: Investor Presentation August 2025
INVESTOR REL ATIONS August 2025 Investor Presentation © 2025 NPK International Inc.
Slide 2: Agenda
Agenda Business Overview Recent Performance Value Creation Roadmap Appendix 2
Slide 3: Safe Harbor
Safe Harbor DISCLAIMERS Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical facts are forward-looking statements. Words such as “w
Slide 4: Business Overview
Business Overview 4
Slide 5: We Are a Pure-Play Specialty Rental & Services Company
We Are a Pure-Play Specialty Rental & Services Company PROVIDING WOR KSIT E ACCESS SOLUT IONS TO POWER & INFR ASTRUCTURE MARKETS Financial Highlights ABOUT NPK TTM Q2 2025 Revenue Revenue Adj. EBITDA* Adj. EPS* We are a temporary worksite access $235 $63 $0.31 solutions company that 30% $217 $49 $55
Slide 6: The Original Composite Mat
The Original Composite Mat Flexible Model Accommodates Varying Customer Needs DURA-BASE® ADVANCED-COMPOSIT E MAT SYSTEM We provide both rental and purchase options for our customers. Reasons Customers ✓ Capital preservation/optionality Our flagship product, DURA-BASE®, solution made from ✓ Project-b
Slide 7: Vertically Integrated Model Supports Specialty End-Markets
Vertically Integrated Model Supports Specialty End-Markets PRODUCTS AND SER VICES We combine industry-leading IP and deep manufacturing expertise with on-demand logistics support and installation. Engineering & Design Precision Manufacturing Logistics Planning & Installation Specialty Rental, Produc
Slide 8: We Own and Operate the Largest U.S. Composite Matting Fleet
We Own and Operate the Largest U.S. Composite Matting Fleet SCAL E TO CAPITALIZE ON MULTI-YEAR INVEST MENT CYCL ES ACROSS MULTIPL E END-MAR KETS Revenue Macro End-market Segment Demand Drivers Concentration Outlook Power Transmission • Need for significant sustained investment driven by aging infras
Slide 9: Significant Opportunity within Power Transmission Market
Significant Opportunity within Power Transmission Market SIGNIFICANT DEMAND DRIVER S DRIVING GROWING INVESTMENTS IN TR ANSMISSION GR ID % of Total Estimated Transmission Capex and Power Demand Driver Rationale CapEx $45 4,500 Rapid energy demand growth in the U.S. is Aging Grid Infrastructure threat
Slide 10: Our Specialty Rental Asset Generates ~35% IRR
Our Specialty Rental Asset Generates ~35% IRR RECYCL ABL E COMPOSITE MAT TING PROVIDES FOR LONG USEFUL R AW MATER IAL L IFE AND SUPERIOR IRR NPK Rental Mat Economic Case Material can be $10,000 recycled multiple times Annual Rental Revenue generation $8,000 revenue ~50% of cost remains consistent Mi
Slide 11: Recent Performance
Recent Performance 11
Slide 12: 2Q25 Performance Summary, 2025 Outlook
2Q25 Performance Summary, 2025 Outlook MOMENTUM CONTINUED THROUGH 2Q25, DRIVING STRONG YEAR-OVER-YEAR GROWTH Second Quarter 2025 Business Outlook Performance Summary (As of August 6, 2025) Strong customer demand for rental and related services Increased full-year 2025 guidance 2Q25 revenues from spe
Slide 13: 2Q24 vs. 2Q25 Performance Bridge
2Q24 vs. 2Q25 Performance Bridge 2Q24 vs. 2Q25 Adjusted EBITDA from Continuing Operations* $ in millions $19 $18 * Represents a non-GAAP financial measure. See reconciliation to the most comparable GAAP measure in “Non-GAAP Financial Measures” slides within this presentation. 13
Slide 14: Strategic Focus on Fleet Optimization, Price Discipline, Cost Controls
Strategic Focus on Fleet Optimization, Price Discipline, Cost Controls RECENT PERFORMANCE Revenue Adjusted EBITDA* Adjusted EBITDA Margin* $ in millions $ in millions Adjusted EBITDA as % of total revenue +8% +2% +15% +5% +160 bps +80 bps * Represents a non-GAAP financial measure. See reconciliation
Slide 15: Rental Growth Rate Accelerating in 2025
Rental Growth Rate Accelerating in 2025 FIVE YEAR PERFORMANCE Rental Revenue Services Revenue Product Sales Revenue $ in millions $ in millions $ in millions Rental revenue accelerated in 4Q24 and 1H25, Strategic shift away from lower margin service work Product sales fluctuate quarter-to-quarter, d
Slide 16: Financial Guidance
Financial Guidance CURRENT AS OF AUGUST 6, 2025 For the Full Year 2025, NPK Currently Anticipates the Following: Consolidated Adjusted Consolidated Revenues Net Capital Expenditures EBITDA in a range of in a range of in a range of $250-$260 $68-$74 $35-$40 million million million 16
Slide 17: Value Creation Roadmap
Value Creation Roadmap 17
Slide 18: Organic and Inorganic Growth
Organic and Inorganic Growth ~ $175 million of cash and bank facility availability exiting 2Q 2025 provides meaningful flexibility to support growth plans COMMERCIAL GROW TH PR IORITIES Net Debt (Cash)* Our Organic Growth Priorities Pursuing the highest-return, value-enhancing projects ✓ Geographic
Slide 19: Driving Asset and Cost Optimization
Driving Asset and Cost Optimization Strong Cash Flow Conversion ~65% of 1H25 Adjusted EBITDA* available to support organic OPERAT IONAL EXCELL ENCE INITIATIVES growth investments and return of capital Cash used to fund working capital and other operating activities Recent Operational Improvements Bu
Slide 20: Seek to Enhance Return on Capital Employed
Seek to Enhance Return on Capital Employed CAPITAL ALLOCAT ION PRIOR ITIES Solid Return on Net Assets following 2024 Divestiture 1H25 Annualized Return on Net Assets * Capital Allocation Priorities ✓ Maintain modest leverage ✓ Organic investment to expand rental fleet, along with associated 12.4% eq
Slide 21: Investment Conclusion
Investment Conclusion VALUE CREATION ROADMAP We are a pure-play worksite access solutions business NPK has become a leading, pure-play specialty rental and services company serving the global worksite access and critical infrastructure markets, delivering 13% cumulative annual growth in rental reven
Slide 22: Appendix
Appendix 8/6/2025 22
Slide 23: Experienced Executive Leadership Team
Experienced Executive Leadership Team APPENDIX Matthew S. Lanigan Gregg S. Piontek Lori Briggs Celeste Frugé President & Chief Executive Officer Chief Financial Officer Executive Vice President, Vice President, General Counsel, Business Operations Chief Compliance Officer & Corporate Secretary Matth
Slide 24: Consolidated Statements of Operations (unaudited)
Consolidated Statements of Operations (unaudited) APPENDIX 24
Slide 25: Consolidated Balance Sheets (unaudited)
Consolidated Balance Sheets (unaudited) APPENDIX
Slide 26: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) APPENDIX The amounts above for 2024 include our former Fluids Systems segment, as we elected not to adjust the consolidated statements of cash flows to separately present cash flows attributable to discontinued operations.
Slide 27: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX
Slide 28: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX
Slide 29: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX
Slide 30: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX Adjusted Income (Loss) from Continuing Operations and Adjusted Income (Loss) from Continuing Operations Per Common Share TTM Consolidated June 30, (In thousands) 2022 2023 2024 2025 Income from continuing operations (GAAP) $ 822 $ 14,149 $ 35,599 $ 42
Slide 31: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX
Slide 32: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX The following table reconciles the Company’s net cash provided by (used in) operating activities calculated in accordance with GAAP to the non- GAAP financial measure of Free Cash Flow: TTM Consolidated June 30, (In thousands) 2022 2023 2024 2025 Net