Mayville Engineering Company, Inc. · NYSE:MEC
Mayville Engineering — Q2 2026 Earnings Presentation
18 slides from Mayville Engineering's earnings presentation, Aug 4, 2026
Slide 1: Mayville Engineering Company 2Q26 Results Presentation
MAYVILLE ENGINEERING COMPANY 2Q26 RESULTS PRESENTATION AUGUST 4, 2026
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This presentation contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company’s expected results
Slide 3: 2Q26 Financial Performance
2Q26 FINANCIAL PERFORMANCE DCP AND IMPROVING LEGACY MARKETS DRIVE REVENUE GROWTH AND MARGIN EXPANSION Accelerating activity and improving utilization support margin realization; robust Datacenter & 2Q26 Performance Highlights Critical Power (DCP) demand and recovery in several key legacy markets und
Slide 4: Second Quarter Financial Performance
SECOND QUARTER FINANCIAL PERFORMANCE Net Sales Adj. EBITDA & Margin Adjusted Diluted EPS Free Cash Flow ($MM) ($MM & % of Net Sales) ($/share) ($MM) $163.0 $13.7 $12.5 $13.2 $0.16 $132.3 10.3% 8.1% $0.07 ($6.6) 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 See the appendix for reconciliations of Adjusted
Slide 5: FY26 End-Market Outlook
FY26 END-MARKET OUTLOOK DATACENTER & CRITICAL MOMENTUM BUILDS AND KEY LEGACY MARKETS START TO RECOVER Commercial Vehicle Datacenter & Critical Power Construction & Access MEC Net Sales % Change (~29% of TTM Revenue) (~16% of TTM Revenue) (~14% of TTM Revenue) Low- teens (Year-Over-Year) High 9.1% Mi
Slide 6: FY26 End-Market Outlook
FY26 END-MARKET OUTLOOK DATACENTER & CRITICAL MOMENTUM BUILDS AND KEY LEGACY MARKETS START TO RECOVER Powersports Agriculture Military Other (~15% of TTM Revenue) (~6% of TTM Revenue) (~4% of TTM Revenue) (~16% of TTM Revenue) MEC Net Sales % Change 14.8% 10.3% (Year-Over-Year) Low single- 7.0% digi
Slide 7: 2Q Net Sales & Adj. EBITDA Highlights
2Q NET SALES & ADJ. EBITDA HIGHLIGHTS ACCELERATING DCP DEMAND AND PROGRAM RAMPS POSITION MEC TO REALIZE IMPROVED OPERATING LEVERAGE Robust DCP demand is driving growth 2Q Net Sales Reconciliation ($s in Millions) DCP momentum accelerated, delivering 173% organic growth with the qualified opportunity
Slide 8: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES BALANCED CAPITAL ALLOCATION: GROWTH INVESTMENT, DELEVERAGING, AND BOLT-ON M&A Balanced approach to capital Capital Expenditures allocation ($MM) Targeted growth investments $59 • Demand from Datacenter & Critical Power exceeds current capacity $40 - $50 • Generate high-
Slide 9: Disciplined Capital Management
DISCIPLINED CAPITAL MANAGEMENT IMPROVING LIQUIDITY PROFILE TO SUPPORT LONG TERM GROWTH $143 Total Cash & $109 Available Liquidity1 ($MM) $18 $205 $135 Net Debt $82 ($MM) 3.7x 2.9x Net Leverage 1.3x Ratio2 $54 $66 $48 Net Working Capital3 2024 2025 2Q26 1) Assumes continued compliance with covenants
Slide 10: 3Q 2026 Financial Guidance & 2026 Outlook
3Q 2026 FINANCIAL GUIDANCE & 2026 OUTLOOK AS OF AUGUST 4, 2026 3Q 2026 Guidance Full Year Outlook Improving conditions across several key legacy end markets and Datacenter & Critical Power end market: continued Datacenter & Critical Power acceleration • Low-teens organic growth before cross-selling
Slide 11: Datacenter & Critical Power Opportunity
DATACENTER & CRITICAL POWER OPPORTUNITY DATACENTER & CRITICAL POWER PIPELINE SIGNALS NEAR-TERM TRANSFORMATIONAL OPPORTUNITY Datacenter & Critical Power pipeline exceeds $125MM Historical DCP Programs Awarded ($s in Millions) ~$40 Pipeline of qualified opportunities continues to remain strong, drivin
Slide 12: Investment Thesis
INVESTMENT THESIS DIVERSIFIED PLATFORM POSITIONED FOR CYCLICAL RECOVERY AND DATACENTER-LED GROWTH Strategic Repositioning for Higher-Value Growth Proven framework of operational excellence High cash conversion potential (>50% of Adj. supports improved capacity utilization and EBITDA) to enable de-le
Slide 13: Appendix
APPENDIX
Slide 14: Historical Net Sales by End Market
HISTORICAL NET SALES BY END MARKET ($s in Millions) 1Q 2Q Commercial Vehicle $ 38.8 $ 50.8 Datacenter & Critical Power 23.6 29.0 2026 Construction & Access Powersports 20.1 23.3 23.1 18.5 Year-to-Date Agriculture 10.3 9.0 Military 5.8 6.5 Other 22.8 26.1 Total $ 144.8 $ 163.0 ($s in Millions) 1Q 2Q
Slide 15: Historical Material Price Pass-Through
HISTORICAL MATERIAL PRICE PASS-THROUGH Material Price Pass-Throughs (Y-o-Y Change in $MMs) 1Q 2Q 3Q 4Q Full Year 2024 $ — $ (1.1) $ (0.7) $ (0.2) $ (2.0) 2025 $ (1.9) $ 0.5 $ 1.4 $ 2.5 $ 2.5 2026 $ 2.5 $ 3.1 $ 5.6 ONE MEC. ONE MISSION. 15
Slide 16: Non-GAAP Reconciliation of Adjusted EBITDA
NON-GAAP RECONCILIATION OF ADJUSTED EBITDA Q2 ($MM) 2026 2025 Net income (loss) and comprehensive income (loss) $ (2.1) $ (1.1) Interest expense 3.5 1.4 Provision (benefit) for income taxes (1.0) (0.2) Depreciation and amortization 11.2 9.6 EBITDA $ 11.6 $ 9.7 Stock-based compensation expense 1.5 1.
Slide 17: Non-GAAP Reconciliation of Adjusted Net Income & Diluted EPS
NON-GAAP RECONCILIATION OF ADJUSTED NET INCOME & DILUTED EPS Q2 ($MM, except share amounts and per share values) 2026 2025 Net income (loss) and comprehensive income (loss) $ (2.1) $ (1.1) Stock-based compensation expense 1.5 1.0 CFO transition costs — 1.1 Natural disaster costs — 0.3 Acquisition re
Slide 18: Non-GAAP Reconciliation of Free Cash Flow
NON-GAAP RECONCILIATION OF FREE CASH FLOW Q2 ($MM) 2026 2025 Net cash provided by operating $ 1.4 $ 15.0 activities Purchase of property, plant and (8.1) (2.4) equipment Free cash flow $ (6.6) $ 12.5 Note: Totals may not sum due to rounding. ONE MEC. ONE MISSION. 18
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