Azz Inc. · NYSE:AZZ
Azz — Investor Presentation (July 2026)
24 slides from Azz's investor presentation, July 2026
Slide 1: North America's Leading Independent Metal Coatings Platform
NYSE: AZZ | INVESTOR PRESENTATION North America's Leading Independent Metal Coatings Platform A differentiated, high-margin galvanizing and coil coating company, compounding earnings through secular tailwinds, disciplined capital allocation, and a transformed balance sheet. #1 in galvanizing & coil
Slide 2: Disclaimers
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 Act of 1995. You can iden
Slide 3: Why Own AZZ
INVESTMENT THESIS Why Own AZZ Five structural reasons why AZZ can compound shareholder returns and outperform the market over a multi-year horizon. Unrivaled Above-Market Industry-Leading Durable Balance Toll-Coater Footprint Growth Margins(1) Sheet Resilience #1 market position in both Organic grow
Slide 4: A Focused Metal Coatings Leader
COMPANY SNAPSHOT A Focused Metal Coatings Leader Headquartered in Fort Worth, Texas, AZZ is the leading independent provider of hot- dip galvanizing and coil coating solutions in North America, with #1 market position in both segments. $1.65B $368M 22.3% TTM Sales(1) Adj. EBITDA(1) Adj. EBITDA Margi
Slide 5: Two Complementary Coatings Segments
BUSINESS MODEL Two Complementary Coatings Segments AZZ Metal Coatings AZZ Precoat Metals Hot-Dip Galvanizing & Surface Technologies Coil Coating of Steel & Aluminum $758.7M 31.0% +14.1% YoY $891.4M 19.8% -2.3% YoY FY26 Sales FY26 Sales FY26 Adj. EBITDA Margin FY26 Sales Growth FY26 Sales FY26 Adj. E
Slide 6: Unrivaled North American Footprint
BUSINESS MODEL Unrivaled North American Footprint AZZ Metal Coatings AZZ Precoat Metals Hot-Dip Galvanizing & Surface Technologies Coil Coating of Steel & Aluminum • North America’s leading post- • Industry leader with fabrication hot-dip galvanizer entrenched advantages as a with unmatched competit
Slide 7: End Market Diversification
SALES MIX End Market Diversification Coatings sales(1) are underpinned by construction and supported by six additional end markets, reducing cycle exposure 59% 13% 9% 6% 5% 3% 5% Construction Infrastructure Industrial Transportation HVAC & Container Other Appliance • Commercial • Bridge • Power • Tr
Slide 8: Positioned for Continued Growth
FINANCIAL PERFORMANCE Positioned for Continued Growth $1.65B FY 2026 Total Sales $368M FY 2026 Adj. EBITDA $6.19 FY 2026 Adj. Diluted EPS $525M FY 20206 Operating Cash Flow +4.6% YoY 22.3% margin +19.0% YoY Includes $273.2 million from AVAIL JV Consolidated Sales & Adjusted EBITDA Trend (FY2023–FY20
Slide 9: A Focused Industrial Compounder
BALANCE SHEET A Focused Industrial Compounder Aggressive debt paydown has reset net leverage to a level that funds growth and shareholder returns simultaneously. Net Leverage Ratio (x Adj EBITDA) Net leverage 3.6x 3.5x 1.4x down from 2.5x a year ago, and down from 3.6x four 2.9x years ago. 2.5x Debt
Slide 10: A Results-Driven Leadership Team With Demonstrated Execution Across Cycles
EXECUTIVE TEAM A Results-Driven Leadership Team With Demonstrated Execution Across Cycles Our Mission Create superior value in a culture where people can grow and TRAITS matter. We are diverse, collaborative, and service-minded, operating in a culture of Trust, Respect, Accountability, Integrity, Te
Slide 11: Investment Drives Competitive Advantage
TECHNOLOGY Investment Drives Competitive Advantage Proprietary digital systems and disciplined IT investment sharpen AZZ’s operating edge across its business, and create scalable platforms that accelerate integration, capture synergies, and support future M&A. Digital Galvanizing System Coil Zone IT
Slide 12: Multi-Year Demand Drivers
SECULAR TAILWINDS Multi-Year Demand Drivers Generational Infrastructure Federal spending on bridges, highways, and the power grid drives demand for galvanized steel content. Data Center Build-Out Hyperscale projects require heavy galvanized structures and co-located power — a structural tailwind. Re
Slide 13: Washington, Missouri
GROWTH CATALYST Washington, An Engine for Precoat Growth Missouri The ~$125M greenfield investment further expands AZZ into the aluminum coatings and beverage-can markets, with output protected by long-term contracts before the line is fully ramped. New greenfield aluminum coil coating facility — ac
Slide 14: Disciplined, Balanced, Return-Focused
CAPITAL ALLOCATION Disciplined, Balanced, Return-Focused High-ROIC Organic Disciplined M&A Growing Dividend Share Repurchases Growth Active, highly synergistic bolt-on Resumed dividend growth with two Metal Coating capacity additions and pipeline; acquired Canton Galvanizing increases since 2025, ba
Slide 15: FY2027 Guidance Signals Continued Growth
OUTLOOK FY2027 Guidance Signals Continued Growth Prior FY2027 FY2027 Revised Metric FY2026 Actual Guidance Guidance(1) FY2027 Guidance Assumptions • Washington, MO accretive to Total Sales $1.65B $1.725–$1.775B $1.80–$1.85B earnings in FY2027 • Capital Expenditures of $80-$100 Adj. EBITDA $367.6M $3
Slide 16: Re-Rating Underway, Runway Remains
VALUATION Re-Rating Underway, Runway Remains ~13x EV / EBITDA Buy Consensus Rating $164.00Avg. Price Target 26.6% Return on Equity(2) vs. peers(1) ~11–13x 6 Strong Buy / 4 Hold range $144–$200 high-return franchise . Adjusted Diluted EPS Trajectory ($) $6.95 Valuation Drivers $6.19 $5.20 • Strong Fr
Slide 17: Key Risks — and Why They Are Manageable
RISK FRAMEWORK Key Risks — and Why They Are Manageable RISK MITIGANT Construction & residential softness pressures Precoat volumes while Infrastructure, utility and data-center demand offset weakness; toll interest rates stay elevated. model protects margins. Value-based pricing, the toll-coater str
Slide 18: AZZ – Investment Summary
THE CASE FOR AZZ AZZ – Investment Summary #1, irreplaceable positions in two essential coatings markets 22%+ Adjusted EBITDA margins converting to record free cash flow Net leverage reset to 1.4x — optionality without trade-offs Secular demand from infrastructure, data centers and reshoring FY2027 E
Slide 19: Reg “G” Tables
Reg “G” Tables
Slide 20: Debt Leverage Ratio Reconciliation
Debt Leverage Ratio Reconciliation Please see page 21 of this presentation for footnotes. INVESTOR PRESENTAT 2020 ION
Slide 21: Non-GAAP Disclosure of Adjusted EBITDA
Non-GAAP Disclosure of Adjusted EBITDA Please see page 21 of this presentation for footnotes. INVESTOR PRESENTAT 2121 ION
Slide 22: Non-GAAP Disclosure of Adjusted Net Income
Non-GAAP Disclosure of Adjusted Net Income INVESTOR Please see page 21 of this presentation for footnotes. PRESENTAT 2222 ION
Slide 23: Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals)
Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals) Please see page 21 of this presentation for footnotes. INVESTOR PRESENTAT 2323 ION
Slide 24: Notes for Non-GAAP Disclosure Slides
Notes for Non-GAAP Disclosure Slides 24