Slide 1: First Quarter 2026 Earnings Presentation
First Quarter 2026 Earnings Presentation May 28, 2026
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures This presentation (the “Presentation”) includes statements that are forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical facts are forward-looking statements. Forward-l
Slide 3: Arxis Update
Arxis Update Record Q1 2026 Results1 • Record sales of $459M, up 21% year-over-year • Adjusted EBITDA of $175M, up 31% year-over-year • Adjusted EBITDA margin expanded 290 bps to 38.2% Initiating FY2026 Guidance • 18% year-over-year revenue growth at midpoint • 27% year-over-year Adjusted EBITDA gro
Slide 4: Premier Supplier of Proprietary Engineered Components
Premier Supplier of Proprietary Engineered Components Common Business Model Attributes Across Arxis Custom, Highly- Design Into Mission- Outsized Value-to-Cost Cutting-Edge Performance Engineered Solutions Critical Applications Ratio at the Extreme Product IP1, 2 End Market Mix1 Segment Breakdown1 O
Slide 5: A Differentiated Model for Long-Term Growth
A Differentiated Model for Long-Term Growth World-Class High Growth Unified Engineering and New Business Repeatable M&A and Diverse Decentralized R&D Machine Engine End Markets Org Structure Capabilities Tailwinds Differentiation Arxis EDGE 5
Slide 6: The Arxis-Arcline Partnership
The Arxis-Arcline Partnership A Synergistic Combination of Operational and Capital Allocation Capabilities Operational Excellence Capital Allocation Capabilities ■ Leadership with decades of operating experience ■ Leadership with decades of private equity experience ■ Proprietary engineered products
Slide 7: Our Long-Term Growth Algorithm
Our Long-Term Growth Algorithm HSD+ 50% LDD+ M&A Organic Revenue Incremental Organic EBITDA Growth % Margin Growth % Note: HSD is High Single Digit and LDD is Low Double Digit 7
Slide 8: Q1 2026 Financial Results
Q1 2026 Financial Results Revenue Adjusted EBITDA1 Free Cash Flow1 38.2% $459M $175M $25M $380M 35.3% $134M $12M +21% YoY +31% YoY +107% YoY Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 • Revenue increased +21% year-over-year • Continued operational improvements • Record Q1 operating performance
Slide 9: Capital Structure Update
Capital Structure Update Net Leverage1 Strong balance sheet and liquidity to execute (Net Debt / Adj. EBITDA1) on M&A and growth initiatives: • $1.1 billion total available liquidity post-IPO - $514M cash on hand3 4.2x - $400M undrawn revolver (2030 maturity) 4.0x - $200M DDTL5 (2032 maturity) Net L
Slide 10: Full Year 2026 Guidance Framework
Full Year 2026 Guidance Framework 2026 Guidance 2026 Arxis Assumed Growth by End Market2 Defense & Commercial Industrial Revenue $1,860M to $1,880M Space Aerospace Technology 18% reported year-over-year growth at midpoint 15% organic2 year-over-year growth at midpoint Adjusted EBITDA1 $720M to $730M
Slide 11: Additional 2026 Inputs
Additional 2026 Inputs 2026 Guidance Capital Expenditures $63M Interest Expense1 $135M Effective Tax Rate 25.0% Depreciation & Amortization $206M Share-Based Compensation Expense $155M Convertible Common Stock Compensation Expense $18M TRA Expense $16M Common Shares Outstanding 410M shares2 (1) Inte
Slide 12: Appendix
Appendix
Slide 13: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA and Adjusted EBITDA Margin % (non-GAAP) Adjusted EBITDA is defined as net income (loss), adjusted for: (i) interest expense, net; (ii) income tax expense (benefit); (iii) depreciation and amortization; (iv) acquisition and integration costs; (v) restructuring
Slide 14: Adjusted EBITDA and Margin Reconciliation
Adjusted EBITDA and Margin Reconciliation Year Ended Three Months Ended March 31, December 31, (in thousands, except for percentages) 2026 2025 2025 Net income (loss) $ 53,309 $ (4,324) $ 45,989 Interest expense, net 43,958 68,260 220,316 Income tax expense (benefit) 15,703 (2,502) 16,325 Depreciati
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Three Months Ended March 31, (in thousands, except for percentages) 2026 2025 Net cash provided by (used in) operating activities $ 36,469 $ 20,762 Less: Capital expenditures (11,703) (8,795) Free Cash Flow $ 24,766 $ 11,967 15
Slide 16: Net Leverage Reconciliation
Net Leverage Reconciliation (in thousands, except for percentages) March 31, 2026 December 31, 2025 Total debt $ 2,652,495 $ 2,633,312 Add: Unamortized deferred financing costs 27,225 28,159 Less: Cash and cash equivalents (238,918) (250,303) Total net debt $ 2,440,802 $ 2,411,168 (1) Net income 103