Slide 1: Fiscal 2026 Second Quarter Results
Fiscal 2026 Second Quarter Results September 9, 2026
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Cautionary Note Regarding Forward-Looking Statements This presentation and accompanying discussion may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, all st
Slide 3: Management in Attendance
MANAGEMENT IN ATTENDANCE Mark Witkowski Brad Cowles Robyn Bradbury Landon Althoff Chief Executive Officer President Chief Financial Officer Vice President, Investor Relations © Core & Main All Rights Reserved. Confidential and Proprietary Information. 3
Slide 4: Business Update
Business Update MARK WITKOWSKI
Slide 5: Q2 2026 Business Update
Q2 2026 BUSINESS UPDATE Building Momentum Through Municipal Strength, Growth Initiatives and Capital Deployment ▪ Delivered Q2'26 net sales of $2.1B, Adjusted EBITDA(1) of $274M and Adjusted Diluted EPS(1) of $0.94 ▪ Expanded Adjusted EBITDA margin +10 bps vs. prior year, while driving meaningful SG
Slide 6: Financial Results
Financial Results ROBYN BRADBURY
Slide 7: Q2 2026 Financial Results
Q2 2026 FINANCIAL RESULTS ($ in Millions, Except Per Share Amounts) Net Sales Gross Profit Net Income $2,145 $573 $150 $2,093 +2.5% $560 +2.3% $141 +6.4% % of % of 26.8% (10 bps) 26.7% 6.7% +30 bps 7.0% Sales Sales Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Adjusted EBITDA(1) Diluted EPS Adjusted Diluted E
Slide 8: Cash Flow & Balance Sheet
CASH FLOW & BALANCE SHEET ($ in Millions) Operating Cash Flow Capital Structure Facility Maturity Current Interest Rate As of 8/2/26 $274 ($197) Senior ABL Credit Facility 4/9/31 S + 125(3) $ — Senior Term Loan due 2031 2/9/31 S + 175 928 ($14) Senior Term Loan due 2033 7/1/33 S + 175 800 ($11) $10
Slide 9: Fiscal 2026 Outlook
FISCAL 2026 OUTLOOK Guidance Reaffirmed ($ in Millions) FY25 FY26 Outlook Net Sales $7,647 $7,800 - $7,900 Adjusted EBITDA(1) $931 $950 - $980 Adjusted EBITDA Margin(1) 12.2% 12.2% - 12.4% Operating Cash Flow Conversion(2) 70% 60% - 70% (1) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP fin
Slide 10: Appendix
Appendix
Slide 11: Core & Main Snapshot
CORE & MAIN SNAPSHOT (1) (3) Key Stats Market Reach $8.4B $7.7B $479M $941M 370+ ~5,600 60K+ 5,000+ 225K+ Market Cap LTM Net Sales LTM Net Income LTM Adjusted EBITDA(2) Branches Associates Customers Suppliers Products U.S. Market Share (3) Total Market Share(3) $39B $44B TAM(4) TAM (4)(5) New Constr
Slide 12: Product & Service Offering
PRODUCT & SERVICE OFFERING Smart Utility Solutions © Core & Main All Rights Reserved. Confidential and Proprietary Information. 12
Slide 13: Sales Initiatives Driving Market Share Gains
SALES INITIATIVES DRIVING MARKET SHARE GAINS Smart Utility Treatment Plant Solutions Fusible HDPE Geosynthetics Strategic Accounts Geographic Expansion Industry-Leading Capabilities Drive Consistent Above Market Growth © Core & Main All Rights Reserved. Confidential and Proprietary Information. 13
Slide 14: Consistent Record of M&A
CONSISTENT RECORD OF M&A Cumulative Deals Closed 43 Deals 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 YTD Acquired Sales: ~$50M ~$20M ~$200M ~$220M ~$150M ~$160M ~$330M ~$620M ~$95M 3 Branches 4 Branches 27 Branches 15 Branches 18 Branches 14 Branches 20 Branches 40 Branches 5 Branches 2 Branc
Slide 15: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK Significant Cash Generation with a Focus on Fueling Growth & Shareholder Returns Organic Growth & ▪ Expect future capital expenditures to Operating Cash Flow Operational Initiatives average ~0.7% – 0.8% of net sales Target ~60% – 70% of Adjusted EBITDA Priority Uses ▪ Ma
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ($ in Millions) Adjusted EBITDA & Adjusted EBITDA Margin Three Months Ended Six Months Ended Twelve Months Ended August 2, 2026 August 3, 2025 August 2, 2026 August 3, 2025 August 2, 2026 Net income attributable to Core & Main, Inc. $ 144 $ 134 $ 252 $ 234 $ 459 P
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES Adjusted Diluted EPS Three Months Ended Six Months Ended Fiscal Years Ended August 2, 2026 August 3, 2025 August 2, 2026 August 3, 2025 February 1, 2026 February 2, 2025 January 28, 2024 Diluted earnings per share $ 0.77 $ 0.70 $ 1.34 $ 1.22 $ 2.31 $ 2.13 $ 2.15 A
Slide 18: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ($ in Millions, Except Share and Per Share Amounts) Free Cash Flow & Free Cash Flow Yield Twelve Months Ended Three Months Ended August 2, 2026 August 2, 2026 May 3, 2026 February 1, 2026 November 2, 2025 Operating Cash Flow $ 683 $ 62 $ 82 $ 268 $ 271 Less: Capit
Slide 19: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ($ in Millions) Net Debt As of August 2, 2026 August 3, 2025 Senior ABL Credit Facility due April 2031 $ — $ 100 Senior Term Loan due July 2028 — 1,241 Senior Term Loan due February 2031 928 937 Senior Term Loan due July 2033 800 — Senior Notes due July 2034 750 —