Azz Inc. · NYSE:AZZ
Azz — Investor Presentation (July 2025)
35 slides from Azz's investor presentation, Jul 10, 2025
Slide 1: Investor Presentation
Investor Presentation • July 10, 2025 (NYSE: AZZ)
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 Invest in AZZ?
Why Invest in AZZ? Differentiated, high value-add metal coatings provider with scale, expertise and customer centric technology uniquely positioned to serve the growing North American steel and aluminum markets Strong business foundation capable of growing sales and margins at or above market levels
Slide 4: AZZ Snapshot
AZZ Snapshot (NYSE: AZZ) AZZ is North America’s FORT WORTH, TEXAS 3,684 Metal Coatings 46 Coil Coating 14 Headquarters: Employees: locations1: Locations2: leading independent post- fabrication hot-dip galvanizing & coil coating Segment Sales3 Segment Adj. EBITDA3 solutions company with #1 positions
Slide 5: AZZ’s Strategic Journey
AZZ’s Strategic Journey $571 $810 $903 $1,538 $2,0001 Sales, in millions 2025 -2028 Strengthen the Core; 2023 -2024 Invest in the Future Focused Metal Coatings • Commitment to continuous process 2019-2022 improvement initiatives across the segments Company • Capture opportunities associated with lon
Slide 6: Achievements Against Stated Commitments
Achievements Against Stated Commitments Commitments Achievements to Date Target Leverage • Maintain net leverage target range of 1.5X -2.5X • Total net leverage of 1.7x1 • TTM Adjusted EBITDA2 of $360.2 million for the • Preliminary FY26E Adj. EBITDA2 guidance of $360-400 million Cash Flow Gener
Slide 7: Mission-Driven, Experienced Management Team
Mission-Driven, Experienced Management Team Our Mission Create superior value in a culture where people can grow and TRAITS matter. We are diverse, collaborative, and service-minded, operating in a culture of TRAITS…Trust, Respect, Accountability, Integrity, Teamwork, and Safety Leadership Highlight
Slide 8: End Markets & Drivers
End Markets & Drivers 1 55% 9% 7% 9% 11% (1) Based on AZZ Q1 FY2026 results ended May 31, 2025 INVESTOR PRESENTATION 8 8
Slide 9: Uniquely Positioned to Capitalize on Generational Infrastructure Investment in U.S.
Uniquely Positioned to Capitalize on Generational Infrastructure Investment in U.S. Source: American Infrastructure Investment and Jobs Act INVESTOR PRESENTATION 9 9
Slide 10: Our Leading Segments
Our Leading Segments Operating Production Production Value-Added Market Size and Historical Adjusted Segment Input Route Capabilities Share2 EBITDA Performance3 ($ in millions) Hot-Dip Galvanizing $2.5B Metal Coatings Batch Spin Galvanizing $157 $189 $197 $205 212 $126 Sales $675.6 million1 Processi
Slide 11: Strategic Value Proposition Built on Common Business Models
Strategic Value Proposition Built on Common Business Models Standout Market Leaders with Best-in-Class Financial Profiles Metal Coatings Tolling Based Businesses with Minimal Commodity and Inventory Risk Proprietary Systems Driving Efficiencies in Operations, Procurement, Supply Chain, IT and Back O
Slide 12: Metal Coatings Value Proposition
Metal Coatings Value Proposition Key Value Propositions Technology: Digital Galvanizing System (DGS) provides customers with near real-time updates and operational efficiencies Embracing Complexity: Quick turns on special projects to meet demanding customer schedules Value-Added Services: Over 3
Slide 13: Metal Coatings Footprint Well-Positioned to Serve Key End-Markets
Metal Coatings Footprint Well-Positioned to Serve Key End-Markets State-of-the-Art Facilities Across North America1 Superior Capabilities Enable Leading Position Across All End-Markets2 Other 18% Construction 26% Electrical 20% Industrial 20% Transportation 16% Key Technologies Hot-Dip Galvanizing S
Slide 14: Metal Coatings Historical Financials
Metal Coatings Historical Financials ($ in millions) Historical Performance Sales $637 $656 $665 $676 $458 $519 1 FY21 FY22 FY23 FY24 FY25 TTM % Margin 27.6% 30.3% 29.7% 30.0% 30.7% 31.4% Adjusted $189 $197 $205 $212 EBITDA2 $126 $157 1 FY21 FY22 FY23 FY24 FY25 TTM (1) TTM sales and Adjusted EBITDA
Slide 15: Precoat Metals Value Proposition
Precoat Metals Value Proposition Key Value Propositions Technology: Coilzone provides customers with near real-time access to inventory, production and shipping information generating operational efficiencies Embracing Complexity: Quickly accommodate customer needs by offering quick turns on spe
Slide 16: Precoat Metals Footprint Well-Positioned to Serve Key End-Markets
Precoat Metals Footprint Well-Positioned to Serve Key End-Markets State-of-the-Art Facilities Across North America1 Critical Service Provider to Diverse End-Markets2 Construction (79%) Appliance (6%) HVAC (3%) Container (4%) Transportation (3%) Key Technologies Existing Facility New Facility Coil Co
Slide 17: Precoat Metals Historical Financials
Precoat Metals Historical Financials ($ in millions) Historical Performance $882 $881 $913 $911 Sales $710 $605 FY21 1 FY22 1 FY23 1 FY242 FY25 TTM 5 % Margin 18.9% 21.8% 18.7% 19.0% 19.6% 19.8% $165 $168 $179 $180 Adjusted $115 $155 EBITDA3 FY214 FY22 4 FY23 4 FY24 2 FY25 TTM 5 Note: FY based on Fe
Slide 18: Investing in Future Growth
Investing in Future Growth New aluminum coil coating line in Washington, Missouri Compelling Strategic and Financial Investment Enables AZZ to benefit from secular shift to aluminum cans Run-rate contracted sales of $50+ million exiting FY 2026 at an EBITDA margin above Precoat overall margin ROIC w
Slide 19: Technology Transformation – A Key Differentiator
Technology Transformation – A Key Differentiator Digital Galvanizing System (DGS) is a distinct competitive advantage - Near elimination of paper with proprietary, state-of-the-art tool linked to Oracle ERP system - Fully integrated; Allows real-time decisions and enhanced customer experience - Prov
Slide 20: Investing in Future Growth: Sustainability
Investing in Future Growth Sustainability We are essential and We are committed to sustainability We recognize that diversity is environmentally friendly initiatives and reporting key to sustainability • Sustainability is intrinsic to our products as • Tracking and Reporting on Scope 1 and • We embr
Slide 21: Consistent Top-Line Growth and Profitability
Consistent Top-Line Growth and Profitability ($ in millions) $1,538 $1,578 $1,587 $1,519 $1,229 $1,062 1 $913 $911 $882 $881 1 $710 Sales $605 1 $519 $637 $656 $665 $676 $458 2 5 FY21 FY22 FY23 FY24 FY25 TTM COVID Year % Margin 22.7% 25.4% 23.3% 23.7% 24.4% 24.7% Segment $312 $354 $364 $384 $392 Adj
Slide 22: AZZ’s Attractive Financial Metrics Relative to Related Industrial Companies
AZZ’s Attractive Financial Metrics Relative to Related Industrial Companies CY23A – CY25E Revenue Growth 4.4% 1.0% 0.9% (2.3%) (2.7%) 4 AZZ Coatings Building Products Service Centers Steel Mills (FY24 – FY26)1 CY25E EBITDA Margin2 22.7% 20.9% 18.2% 13.2% 7.8% 4 AZZ Coatings Building Products Service
Slide 23: Impactful Deleveraging Post Transformational Acquisition
Impactful Deleveraging Post Transformational Acquisition Net Leverage Since Precoat Metals Acquisition1 • Strong free cash flow Net Debt / generation(2) Adjusted EBITDA 4.3x (incl. preferred) (2.6x) • $285M debt reduction in Q1 2026 3.6x 1.7x Net Debt / • Fully Redeemed Series Adjusted EBITDA (excl.
Slide 24: AZZ - Proven Resilience Through Prior Cycles
AZZ - Proven Resilience Through Prior Cycles Limited exposure to metal prices ($ in millions) Strong Recovery Modest Decline +15% CAGR $169 (9%) $140 $142 Value-added pricing model $127 $71 $59 $57 $102 $42 $51 Highly variable cost structure with flexible operating model $98 $81 $85 $85 $51 Consiste
Slide 25: Our Capital Allocation Priorities
Our Capital Allocation Priorities Strategic M&A High ROIC Investments Bolt-on acquisitions, and/or strategic M&A that Organic growth, Strategic customer partnerships & aligns with our business segments Productivity Improvements Manage Leverage(1) Return Capital Net Leverage target range of 1.5x – 2.
Slide 26: FY 2026 Updated Guidance
FY 2026 Updated Guidance(1) Sales Adjusted EBITDA (2) EPS Range $1.625 - $1.725 billion $360 - $400 million $5.75 - $6.25 (1) FY2026 Guidance Assumptions: The newly built Washington, Missouri plant is expected to be operational in the first half of FY2026, and accretive to earnings in the second hal
Slide 27: Why Invest in AZZ?
Why Invest in AZZ? Differentiated, high value add metal coatings provider with scale, expertise and customer centric technology uniquely positioned to serve the growing North American steel and aluminum markets Strong business foundation capable of growing sales and margins at or above market levels
Slide 28: Appendix
Appendix azz
Slide 29: Reg “G” Tables
Reg “G” Tables
Slide 30: Net Leverage Calculations Debt Leverage Ratio Reconciliation
Net Leverage Calculations Debt Leverage Ratio Reconciliation The table presented above is an excerpt from the Company’s Q1 FY2026 financial results found in the Company’s 10Q filed 07/09/2025. Please see page 34 of this presentation for footnotes. INVESTOR PRESENTATION 30
Slide 31: Non-GAAP Disclosure of Adjusted EBITDA
Non-GAAP Disclosure of Adjusted EBITDA The table presented above is an excerpt from the Company’s Q1 FY2026 results found in the Company’s 10Q filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes. 31
Slide 32: Non-GAAP Disclosure of Adjusted Net Income and Adjusted EPS
Non-GAAP Disclosure of Adjusted Net Income and Adjusted EPS The table presented above is an excerpt from the Company’s Q1 FY2026 results found in the Company’s 10Q filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes. 32
Slide 33: Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals)
Non-GAAP Segment Disclosure (Metal Coatings and Precoat Metals) The tables presented above are an excerpt from the Company’s FY2025 results found in the Company’s 10K filed with the SEC on 07/09/2025. Please see page 34 of this presentation for footnotes. 33
Slide 34: Notes for Non-GAAP Disclosure Slides
Notes for Non-GAAP Disclosure Slides 34
Slide 35: azz
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