L.b. Foster Company · NASDAQ:FSTR
L.b. Foster — Sidoti Small Cap Conference (September 2026)
30 slides from L.b. Foster's conference presentation, September 2026
Slide 1: L.B. Foster Company Sidoti Small Cap Conference
L.B. Foster Company Sidoti Small Cap Conference Nasdaq - FSTR September 2026
Slide 2: Safe Harbor Disclaimer
Safe Harbor Disclaimer Safe Harbor Statement Non-GAAP Financial Measures This investor presentation discloses the following non-GAAP measures: This presentation may contain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section
Slide 3: Company Overview
Company Overview "L.B. Foster Company has a rich history of innovation and customer service, and we are reinvigorated by the momentum building inside our business and the opportunity to grow shareholder value." Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 3 Se
Slide 4: L.B. Foster Overview
L.B. Foster Overview Innovating to solve global infrastructure challenges 2026 Guidance3 Low High > Founded in 1902, headquartered in Pittsburgh, Pennsylvania Revenue $ 540 $ 580 > Locations throughout North America, South America, Europe, and Asia Adj. EBITDA1 $ 41 $ 46 Cap Ex as a % of sales 2.7%
Slide 5: Business Segments
Business Segments "With much of the portfolio transformation work complete, our strong financial position enables accelerated investments to drive sustainable organic growth" Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 5 September 2026
Slide 6: Business Segment Profile
Business Segment Profile TTM Q2 2026 Net Sales by Segment Rail, Technologies, and $600 Services Infrastructure Solutions $500 $236 $559 $400 Offering: Offering: $300 > Rail products / technology-based > Proprietary precast products to $323 support North American civil solutions improving safety / ef
Slide 7: Rail, Technologies, and Services - Overview
Rail, Technologies, and Services - Overview Offering Supports the Safety, Reliability, and Efficiency of Global Rail Markets TTM Q2 2026 Rail Sales Business Gross Margin Rail Products $350 Profiles > Returns platform business 60% $300 $47 $323 > Products for rail track infrastructure $250 $89 50% >
Slide 8: Addressable Market - Rail
Addressable Market - Rail FSTR 3-year CAGR v. Rail Products Long-Term Addressable Rail Products Market Growth > Approx. 42% market share L.B. Foster Market Share > Returns platform Addressable Market 42% > Market growth and Rail Products expected to track GDP (4)% (2)% —% 2% 4% > Temporary decline d
Slide 9: Infrastructure Solutions Overview
Infrastructure Solutions Overview Deploying Advanced Technologies That Positively Impact the Built Environment Precast Concrete Products TTM Q2 2026 Business Gross Margin Infrastructure Sales Profile > Growth platform with multiple avenues available $250 40% > Turnkey concrete buildings, manufacture
Slide 10: Addressable Market - Precast Concrete
Addressable Market - Precast Concrete FSTR 3-year CAGR v. CXT Buildings Long-Term Addressable CXT Buildings > Approx. 14% market share 14% Market Growth L.B. Foster Market Share > Growth platform Addressable Market > Strong market share in precast building market Total Addressable Market1,2 —% 5% 10
Slide 11: Growth & Returns Platforms Established
Growth & Returns Platforms Established Business Portfolio Purposefully Constructed to Fund and Drive Growth Growth Platforms Returns Platforms Platform for driving growth, profitability, and ROIC with improving demand Platform optimized for cash generation to fund organic and inorganic from infrastr
Slide 12: Growth & Returns Platform Profiles
Growth & Returns Platform Profiles Growth Platforms Returns Platforms Platform for driving growth, profitability, and ROIC with improving demand Platform to be optimized for cash generation to fund organic and inorganic from infrastructure spend, safety focus and fuel efficiency initiatives growth i
Slide 13: Financial Review
Financial Review Sean Reilly Senior Vice President and CFO L.B. Foster Sidoti Small Cap Conference 13 September 2026
Slide 14: Executive Summary - Highlights
Executive Summary - Highlights Q2 FY 26 Highlights YTD FY 26 Highlights $138.6M 22.3% 17.4% $3.1M $11.7M $259.7M 21.8% Sales Gross Margin SG&A % of Sales Net Income Adj EBITDA1 Sales Gross Margin (3.5)% YoY +80 bps YoY +180 bps YoY +$0.3M YoY (4.7)% YoY +7.6% YoY +60 bps YoY $17.9M $42.2M 1.0x $246.
Slide 15: Strategic Transformation Complete
Strategic Transformation Complete Divestitures / Product Line Exits Acquisitions Lower Margin Profiles – Energy-Focused / Commoditized Businesses Higher Margin Profiles – Rail Technologies and Precast Concrete 2021 – Piling Products - Commoditized, working-capital intensive business 2022 – Skratch a
Slide 16: Key Metrics: 2021 – TTM Q2 2026
Key Metrics: 2021 – TTM Q2 2026 Structural Improvement in Business Portfolio Driving Gross / EBITDA Margin1 Expansion 1 1 1 Adjusted Sales Adjusted Gross Profit Adjusted EBITDA $575 24.0% $130 $45 10.0% $559 $42 22.1% $546 21.7% $39 $550 22.0% 21.2% 21.3% $40 $540 $120 $531 $121 8.0% 20.0% $35 $34 A
Slide 17: Net Debt, Leverage, and Cash Flow
Net Debt1, Leverage, and Cash Flow Exceptional Operating Cash Flow Continued to Improve Net Debt1 and Gross Leverage Ratio1,2 YoY > Net debt1 and Gross Leverage Ratio1,2 decreased during Net Debt1 and Gross Leverage Ratio1,2 Q2 due to improved operating cash flow stemming Per Credit Agreement ($ in
Slide 18: Capital Allocation Priorities
Capital Allocation Priorities Relentless Pursuit of Shareholder Returns with Prudent Capital Allocation Capital Allocation Investment for Growth Debt Reduction Growth Capital Expenditures > Target maintaining Gross Leverage Ratio1 between > Targeting ~2.7% of sales for maintenance, efficiency and ~1
Slide 19: Closing Remarks
Closing Remarks Bill Thalman EVP and Chief Operating Officer L.B. Foster Sidoti Small Cap Conference 19 September 2026
Slide 20: Market and Business Outlook
Market and Business Outlook Demand Outlook Supported by Government Funding Programs and Domestic Project Opportunities Demand in North America Expansion of civil Federal funding available Continued demand for Renewed interest in remains healthy driven by construction projects in key for rail infrast
Slide 21: Government Investment in Domestic Rail Market
Government Investment in Domestic Rail Market Investments in Infrastructure and Safety Improvement Programs Expected to Drive Demand > Consolidated Rail Infrastructure and Safety CRISI Grant Funding Authorized & Obligated ($ in millions) Improvement ("CRISI") grants provide funding for $2,500 projec
Slide 22: Well Positioned for Growth - Infrastructure
Well Positioned for Growth - Infrastructure Portfolio Well Positioned to Benefit from Increase in Construction Project Starts Construction Spending IIJA Department of Transportation Funding Growth Drivers are in Place Seasonally Adjusted Annual Rate (billions of dollars) As of February 2026 (billion
Slide 23: L.B. Foster Investment Thesis
L.B. Foster Investment Thesis Structural Improvement in Business portfolio transformation, organic growth and focused Profitability profitability initiatives manifesting in improved results Infrastructure pure play with a diverse set of avenues for Organic Growth Drivers in Place growth in multi-yea
Slide 24: Innovating to Solve Global Infrastructure Challenges
Innovating to Solve Global Infrastructure Challenges Investing in Growth Platforms to Drive Sales Growth and Profitability Expansion in 2026 and Beyond > Strategic Transformation Financial Results 2026 Financial Guidance commenced in 2021 2021 v. 2025 March 3, 2026 > Significant improvement in 2021
Slide 25: Thank you!
Thank you! L.B. Foster Company Investor Presentation Nasdaq - FSTR L.B. Foster Sidoti Small Cap Conference 25 September 2026
Slide 26: Appendix
Appendix L.B. Foster Sidoti Small Cap Conference 26 September 2026
Slide 27: Non-GAAP Measure: Adjusted EBITDA Margin
Non-GAAP Measure: Adjusted EBITDA Margin Twelve months ended: December 31, December 31, December 31, December 31, December 31, June 30, ($ in millions) 2021 2022 2023 2024 2025 2026 Net income, as reported $ 3.5 $ (45.7) $ 1.3 $ 42.8 $ 7.4 $ 11.3 Interest expense - net 3.0 3.3 5.5 5.0 4.9 4.0 Income
Slide 28: Non-GAAP Measure: Adjusted Results
Non-GAAP Measure: Adjusted Results Trailing Twelve Twelve Months Ended Consolidated Adj. Results Months Ended December 31, December 31, December 31, December 31, June 30, ($ in millions) 2022 2023 2024 2025 2026 Net sales, as reported $ 497.5 $ 543.7 $ 530.8 $ 540.0 $ 558.4 Bridge grid deck exit imp
Slide 29: Non-GAAP Measure: Net Debt and Free Cash Flow
Non-GAAP Measure: Net Debt and Free Cash Flow June 30, March 31, December 31, September 30, June 30, March 31, December 31, September 30, 2026 2026 2025 2025 2025 2025 2024 2024 ($ in millions) Total debt $ 48.0 $ 59.7 $ 42.8 $ 58.7 $ 81.6 $ 82.5 $ 46.9 $ 68.5 Less: cash and cash equivalents (5.8) (
Slide 30: Non-GAAP Measure: Funding Capacity
Non-GAAP Measure: Funding Capacity1 June 30, 2026 ($ in millions) Cash and cash equivalents $ 5.8 Total availability under the credit facility 150.0 Outstanding borrowings on revolving credit facility and letters of credit (48.3) Net availability under the revolving credit facility1 101.7 Total avai
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