Slide 1: Investor Overview
PROTOLABS Manufacturing. Accelerated. Investor Overview May 2026
Slide 2: Forward-Looking Statements and Non-GAAP Measures
Forward-Looking Statements and Non-GAAP Measures • These slides may contain forward-looking • Other factors that could materially affect actual • Non-GAAP Financial Measures: Protolabs statements. These statements relate to future results, levels of activity, performance or management believes that
Slide 3: Company Overview: Quick Facts
Quick Facts Company Overview $533M revenue (2025) Founded 1999 Digital manufacturing pioneer; one of the largest and 45% non-GAAP gross most profitable in the industry margin* Four core services Injection molding, CNC machining, 3D printing, and $78M adjusted EBITDA* sheet metal fabrication $75M Cas
Slide 4: Wherever innovation is happening, Protolabs is there.
Wherever innovation is happening, Protolabs is there. Aero, Space & Robots Data Centers Rockets Drones Medical Devices Satellite Renewable Communication Energy 4
Slide 5: Investment Highlights
Investment Highlights Undisputed Industry Leader $100B+ Market at Digital Inflection • Pioneer of digital manufacturing (est. 1999); one of the • Digital transition still early-stage in a $2T global contract largest and most profitable globally manufacturing market • 48,000+ active customer contacts
Slide 6: Key Drivers in a $100B Market
Key Drivers in a 1 Manufacturing is a critical sector of the economy Our digital technology puts us at the forefront of a $100B Market: massive industry. 2 Future of manufacturing and supply chains are digital • Manufacturing 4.0, AI, Internet of Things, Labor Shortage • Digitization of manufacturin
Slide 7: Digital Manufacturing: Factory x Network
Digital Manufacturing: Factory x Network Custom prototype and production parts are manufactured via two fulfilment sources Global Digital Manufacturing Locations Digital Factory Digital Network ProDesk Network x Factory Parts Shipped The customer uploads files Parts are manufactured via to Customer
Slide 8: A complementary and synergistic hybrid manufacturing model
A complementary and synergistic hybrid manufacturing model Digital Factory Partner Network • Fastest, most reliable lead times in the • Significant expansion of manufacturing world for custom parts (as fast as 1 day) capabilities via global supplier network • Automated quoting and • Adherence to Pro
Slide 9: Factory Fulfilment
Factory Fulfilment Customer Value Prop: Digital Factory • Quick-turn source for prototype and low-volume production parts • Accelerate product development and speed to market • Stabilize supply chain disruptions 9
Slide 10: Network Fulfilment
Network Fulfilment Customer Value Prop: Manufacturing Partner Network • Cost-efficient pricing with flexible lead times • Access to global network of production suppliers • Comprehensive and complementary manufacturing capabilities 10
Slide 11: Global Digital Manufacturing Locations
Global Digital Manufacturing Locations Digital Factory Manufacturer in Digital Network 11
Slide 12: We Enable Global Change
We Enable Global Change •We work with the most innovative companies •We serve more than 85% of Fortune 500 in the world companies in our target industries •In 2025, we served more than 48,000 customer •Fast-growing sectors served: aerospace & contacts—one of the largest customer bases in defense, ro
Slide 13: Serving the most innovative companies across every major industry
Serving the most innovative companies across every major industry Aerospace and Industrial Machinery Defense 20–25% and Equipment 10–15% Medical and Automotive 5% Healthcare 15–20% Computer and Electronics 15–20% 13 Note: %s are approximate % of total revenue
Slide 14: Our Hybrid Model Drives Customer Retention
Our Hybrid Model Drives Customer Retention Single Resource for Complex Components • Manufacture all custom parts regardless of complexity • Simplified supply chain with one-stop-shop • Strategic innovation partner Manufacturing Solution Throughout Life Cycle • Rapid prototyping with iterative design
Slide 15: Strategic priorities: Customer Experience, Innovation, Production, Efficiency
Elevate Customer Accelerate Expand Drive Operational Experience Innovation Production Efficiency • Remove friction • Reaccelerate • Take a deliberate, • Expand Factory and across the customer innovation across core customer-led Network gross margins journey to deliver a manufacturing approach—priori
Slide 16: Financial Information
Financial Information 16
Slide 17: Long Track Record of Revenue Growth
Long Track Record of Revenue Growth $533M 2012–2025 CAGR: 12% $126M 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 17 (IPO)
Slide 18: Financial Results | FY 2025
Financial Results | FY 2025 FY 2025 FY 2024 YoY Change Revenue $533.1 $500.9 6.4% Non-GAAP 45.1% 45.2% (10) bps Gross Margin* Non-GAAP 8.8% 9.2% (40) bps Operating Margin* Non-GAAP $1.66 $1.63 1.5% Earnings Per Share* *Non-GAAP: adjusted for stock-based compensation expense, amortization expense, un
Slide 19: Cash Flow and Balance Sheet | FY 2025
Cash Flow and Balance Sheet | FY 2025 $M FY 2025 FY 2024 Operating Cash Flow $74.5 $77.8 Capital Expenditures $14.8 $9.2 Share Repurchases $43.0 $60.3 Cash and Investments* $142.4 $120.9 Debt* $0 $0 *Balance sheet items as of the end of the period. 19
Slide 20: Revenue by Service | FY 2025 YoY
Revenue by Service | FY 2025 YoY Injection Molding CNC Machining ($M) ($M) 17%* (2)%* $206.9 $243.3 $194.2 $191.5 FY 2024 FY 2025 FY 2024 FY 2025 3D Printing Sheet Metal ($M) ($M) (5)%* 12%* $83.8 $80.3 $15.3 $17.2 FY 2024 FY 2025 FY 2024 FY 2025 *YoY change reflected in constant currencies 20 See r
Slide 21: Capital Allocation
Capital 1 Reinvest in the Business • Manufacturing equipment and facilities for growth Allocation and scale • Research & development investment to expand and improve our digital manufacturing offer 2 Inorganic Growth • Maintain a pipeline of potential strategic acquisitions to further our strategy a
Slide 22: Thank you!
PROTOLABS Manufacturing. Accelerated. Thank you! 22
Slide 23: Appendix
Appendix 23
Slide 24: GAAP to Non-GAAP Reconciliation | Revenue by Region
GAAP to Non-GAAP Reconciliation | Revenue by Region Proto Labs, Inc. Comparison of GAAP to Non-GAAP Revenue Growth by Region (In thousands) (Unaudited) Three Months Ended Three Months Ended December 31, 2025 December 31, 2024 Foreign % % Change GAAP Currency1 Non-GAAP GAAP Change2 Organic3 Revenues
Slide 25: GAAP to Non-GAAP Reconciliation | Revenue by Service
GAAP to Non-GAAP Reconciliation | Revenue by Service Proto Labs, Inc. Comparison of GAAP to Non-GAAP Revenue Growth by Service Line (In thousands) (Unaudited) Three Months Ended Three Months Ended December 31, 2025 December 31, 2024 Foreign % % Change GAAP Currency1 Non-GAAP GAAP Change2 Organic3 Re
Slide 26: GAAP to Non-GAAP Reconciliation | Gross Margin
GAAP to Non-GAAP Reconciliation | Gross Margin Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Gross Margin (In thousands) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Revenue $ 136,493 $ 121,750 $ 533,127 $ 500,890 Gross profit 60,372 51,957 2
Slide 27: GAAP to Non-GAAP Reconciliation | Operating Margin
GAAP to Non-GAAP Reconciliation | Operating Margin Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Operating Margin (In thousands) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Revenue $ 136,493 $ 121,750 $ 533,127 $ 500,890 Income (loss) from o
Slide 28: GAAP to Non-GAAP Reconciliation | EBITDA
GAAP to Non-GAAP Reconciliation | EBITDA Proto Labs, Inc. Reconciliation of GAAP Net Income (Loss) to EBITDA and Adjusted EBITDA (In thousands) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Revenue $ 136,493 $ 121,750 $ 533,127 $ 500,890 GAAP net in
Slide 29: GAAP to Non-GAAP Reconciliation | EPS
GAAP to Non-GAAP Reconciliation | EPS Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Net Income (Loss) and Non-GAAP Net Income per Share (In thousands, except share and per share amounts) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Non-GAAP n
Slide 30: Copyright © Proto Labs, Inc. All rights reserved.
Copyright © Proto Labs, Inc. All rights reserved.