Slide 1: Earnings Presentation Fiscal Year and Fourth Quarter 2024
Earnings Presentation Fiscal Year and Fourth Quarter 2024 March 2025 Delivering Sustainable Infrastructure Solutions
Slide 2: Disclaimer
Disclaimer This presentation is being delivered on behalf of Shimmick Corporation (the “Company”). The sole purpose of this presentation is to provide information in connection with a review of the Company’s operations and/or financial status. This presentation does not purport to be all-inclusive o
Slide 3: Why Shimmick?
Why Shimmick? Strong Market Reputation Leading Technical Talent Turnkey Self-Performing Capabilities Significant Market Opportunities 3
Slide 4: Addressable Market over $100B
Addressable Market over $100B Renewed Focus on Four Major End Markets 1 Water Resources 2 Climate Resilience 3 Energy Transition & Technology 4 Sustainable Transportation Expanded Client Base Public and Private Municipal Governments Vertical General Contractors Regional Agencies Hyper Scale Technolo
Slide 5: Shimmick Experience in Target Market Segments
SHIMMICK Experience in Target Market Segments Water Resources Climate Resilience Treatment, storage, and conveyance Flood defense and sea-level rise infrastructure North City Pure Water Facility Chickamauga Lock Replacement Foster City Levee Improvement Rapid Disaster Infrastructure Repair San Diego
Slide 6: Looking to the Future: Our Growth Strategy
Looking to the Future: Our Growth Strategy 1 Pipeline and bidding expansion Sustainable, Risk Balanced Collaborative delivery transition Backlog and Book of Work Electrical and high-tech construction market expansion 2 Operational Excellence Cost and schedule controls/technology use standardization
Slide 7: Fourth Quarter 2024 and Recent Highlights
Fourth Quarter 2024 and Recent Highlights Financial Projects and Operations Reported Q4 2024 revenue of $104 million, which includes $80 Wins in the City of Santa Cruz, California, Murray Street million of Shimmick Projects(1) revenue, $480 million for the year Bridge, WWTP Headworks Rehabilitation
Slide 8: Fourth Quarter Revenue and Gross Margin Results
Fourth Quarter Revenue and Gross Margin Results ($ in millions) Observations Shimmick Project revenue and margin decline was primarily driven by lower activity due to weather and delays due to changes on active projects Legacy Project Revenue decline was primarily driven by jobs winding down The Leg
Slide 9: Shimmick Backlog
Shimmick(1) Backlog Our backlog is USA-based, predominantly publicly-funded and fixed-price. Backlog Expected Backlog Drivers in 2025 Our expansive market view – scopes and geographies – increases available projects to bid Growth in the specialty electrical market allows access to pipeline of work i
Slide 10: 2025 Guidance
2025 Guidance Shimmick Projects Revenue Shimmick Projects Gross Margin For the full fiscal year ending $392M - $410M 9% - 12% January 2, 2026, we expect: Shimmick Projects revenue to increase 10%- $356M 15% and to achieve overall gross margin 3% between 9% and 12% as we replace revenues from 2024 di
Slide 11: Closing
Closing SHIMMICK is looking at 2025 with optimism based on: strong liquidity, a more risk balanced backlog, favorable market conditions, and a new strategy for growth. In 2025, we expect to: increase and further de-risk our backlog, start implementing our sustainable growth strategy, i
Slide 12: Appendix
Appendix
Slide 13: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (in thousands) Three Months Ended Fiscal Year Ended January 3, 2025 December 29, 2023 January 3, 2025 December 29, 2023 Net loss attributable to Shimmick Corporation $(38,462) $(17,476) $(124,748) $(2,546) Transformation costs(1) 2,535 - 7,067 - Stock-based compensat
Slide 14: Non-GAAP Financial Measures Explanatory Notes
Non-GAAP Financial Measures Explanatory Notes Adjusted Net Loss Adjusted EBITDA Adjusted net loss represents Net loss attributable to Shimmick Corporation adjusted to eliminate stock-based Adjusted EBITDA represents our Net loss attributable to Shimmick Corporation before interest expense, income ta
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet January 3, December 29, (in thousands) 2025 2023 Assets Cash and Cash Equivalents 33,730 62,939 Total Current Assets 141,000 257,458 Total Assets 233,864 426,652 Liabilities Total Current Liabilities 230,264 271,253 Total Liabilities 268,538 356,162 Equity Total Stockholde
Slide 16: Growth Fueled by Enhanced Pipeline of Projects and Opportunities
Growth Fueled by Enhanced Pipeline of Projects and Opportunities Pipeline and Bid Volume Collaborative Delivery Electrical and Hyper-Scale Expansion Transition Market Expansion Broader market focus, addressing Develop industry relationships to increase Expansion of the Electrical Division Sustainabl
Slide 17: New Project Award Highlights
New Project Award Highlights (as of February 2025) NORTH HOLLYWOOD TO PASADENA BUS WASTEWATER TREATMENT FACILITY MURRAY STREET BRIDGE PROJECT RAPID TRANSIT PALISADE FIRE CLEAN UP PROJECT HEADWORKS REHABILITATION Location: SANTA CRUZ, CALIFORNIA Location: LOS ANGELES, CALIFORNIA Location: LOS ANGELES
Slide 18: SHIMMICK: A Tradition of Technical Excellence and Entrepreneurial Spirit
SHIMMICK: A Tradition of Technical Excellence and Entrepreneurial Spirit 20y URS 1912 2025 2025 Today’s Shimmick is ready to address today's infrastructure challenges with over a century of engineering excellence, ingenuity and strong results. 18
Slide 19: Investor Contact
Investor Contact IR@shimmick.com 1-949-704-2350 investors.shimmick.com Delivering Sustainable Infrastructure Solutions