Matthews International Corporation · NASDAQ:MATW

Matthews International — Q3 2022 Earnings Presentation

36 slides from Matthews International's earnings presentation, Aug 16, 2022

1. Slide 1: Investor Presentation Third Quarter Fiscal Year 2022

   INVESTOR PRESENTATION THIRD QUARTER FISCAL YEAR 2022 www.matw.com | Nasdaq: MATW

2. Slide 2: Disclaimer

   © 2022 Matthews International Corporation. All Rights Reserved. 2 DISCLAIMER Any forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and

3. Slide 3: © 2022 Matthews International Corporation. All Rights Reserved. 3

   © 2022 Matthews International Corporation. All Rights Reserved. 3

4. Slide 4: Matthews at a Glance

   © 2022 Matthews International Corporation. All Rights Reserved. 4 MATTHEWS AT A GLANCE - $1.7B FY2021 REVENUE 37% 17% 46% Europe 27% Asia & Pacific 4% Americas 69% Note: Effective in the first quarter of fiscal 2022, the Company transferred its surfaces and engineered products businesses from the SG

5. Slide 5: Engineered Solutions: Product Identification, Warehouse Automation

   © 2022 Matthews International Corporation. All Rights Reserved.© 2022 Matthews International Corporation. All Rights Reserved. ENGINEERED SOLUTIONS PRODUCT IDENTIFICATION WAREHOUSE AUTOMATION

6. Slide 6: Industrial Technologies Products and Markets

   © 2022 Matthews International Corporation. All Rights Reserved. 6 INDUSTRIAL TECHNOLOGIES PRODUCTS AND MARKETS PRINCIPAL PRODUCT LINES COMPETITIVE ADVANTAGES

7. Slide 7: Energy Storage Solutions

   © 2022 Matthews International Corporation. All Rights Reserved. 7 ENERGY STORAGE SOLUTIONS • In the first quarter of fiscal 2022, Matthews began reporting its energy storage solutions-related business in the Industrial Technologies segment (previously SGK) • Matthews’ exposure to electric vehicles c

8. Slide 8: Warehouse Automation

   © 2022 Matthews International Corporation. All Rights Reserved. 8 WAREHOUSE AUTOMATION • Warehouse Automation systems complement the tracking and distribution of a customer's products with automated order fulfillment technologies and controls for material handling systems • Material handling custome

9. Slide 9: Inkjet Organic Growth Opportunity

   © 2022 Matthews International Corporation. All Rights Reserved. 9 INKJET ORGANIC GROWTH OPPORTUNITY • Product identification dates back to Matthews’ original branding irons and hand stamps from the 1850s • Matthews identified a significant market opportunity to displace incumbent continuous inkjet (

10. Slide 10: Cemetery, Funeral Home, Cremation Products and Equipment

    © 2022 Matthews International Corporation. All Rights Reserved.© 2022 Matthews International Corporation. All Rights Reserved. CEMETERY PRODUCTS FUNERAL HOME PRODUCTS CREMATION PRODUCTS AND EQUIPMENT tt s I t r ti l r r ti . ll i ts s rv .

11. Slide 11: Market Leadership

    © 2022 Matthews International Corporation. All Rights Reserved. Cemetery Products Bronze Memorials - #1 Granite Memorials - #1 North America, Italy, Australia 11 Funeral Home Products Caskets - #2 United States Cremation and Incineration Equipment Cremation Equipment - #1 Global Market Position (U.S

12. Slide 12: Leading Market Position

    © 2022 Matthews International Corporation. All Rights Reserved. LEADING MARKET POSITION 12 MEMORIALIZATION MARKET POSITION 1 As of 2020 per FactSet 54.3% Total Market Size1 $1.2bn (2020) MARKET POSITIONS (U.S.) Bronze Memorials Granite Memorials Caskets Cremation Equipment COMPETITIVE ADVANTAGE

13. Slide 13: Stability in Memorialization with Growth Potential

    © 2022 Matthews International Corporation. All Rights Reserved. 13 * * Note: All financial figures reflect fiscal years ended September 30th. 1 Internal estimates based upon data compiled from CDC, US Census Bureau and Industry reports; 2 Includes incineration products CASKETED VS. NON-CASKETED DEAT

14. Slide 14: Reserved.

    © 2022 Matthews International Corporation. All Rights Reserved.© 2022 Matthews International Corporation. All Rights Reserved.

15. Slide 15: Core Packaging Services

    © 2022 Matthews International Corporation. All Rights Reserved. 15 PRINTED PACKAGING SKU’s BRAND CREATIVE & DESIGN BRAND ASSETS, CLIENT & LEGAL INPUTS PACKAGING LAYOUT, PRODUCTION ART & COLOR SEPARATION COLOR CONTROL & PRINT TOOLING CORE PACKAGING SERVICES CORE PACKAGING SERVICES

16. Slide 16: SGK Brand Solutions

    © 2022 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS FOOD/BEVERAGE CLIENTS GLOBAL PHARMA / HEALTHCARE CLIENTS GLOBAL RETAILER CLIENTS OTHER LEADING BRANDS 16 • Longstanding relationships with a large, blue chip customer base consisting of many Fortune 100 and Fortune 5

17. Slide 17: SGK's Strategic Initiatives Extend Revenue Opportunity

    © 2022 Matthews International Corporation. All Rights Reserved. SGK's STRATEGIC INITIATIVES 17 EXTEND REVENUE OPPORTUNITY WITHIN THE CORE PACK BUSINESS • Improving focus and messaging in the marketplace • Redesigning, rebranding and bundling products and services • Continued focus on ESG through sus

18. Slide 18: Investment Thesis

    © 2022 Matthews International Corporation. All Rights Reserved. 18 INVESTMENT THESIS

19. Slide 19: Key Highlights

    © 2022 Matthews International Corporation. All Rights Reserved. 19 FAVORABLE COMPETITIVE POSITIONS IN ATTRACTIVE ADDRESSABLE MARKETS DISCIPLINED TRACK RECORD OF ACQUISITIONS AND INTEGRATION ROBUST CASH FLOW AND LOW LEVERAGE SUPPORTING DISCIPLINED FINANCIAL POLICY STABLE CORE BUSINESSES SUPPORT GROWT

20. Slide 20: Attractive Markets and Growth Opportunities

    © 2022 Matthews International Corporation. All Rights Reserved. A B C Attractive markets and growth opportunities • Stable demand driven by increased deaths as a result of population growth • Strong presence and growing revenue in cremation products and equipment • Investment in innovations to drive

21. Slide 21: Stable Core Businesses Support Growth Opportunities

    © 2022 Matthews International Corporation. All Rights Reserved. 21 STABLE CORE BUSINESSES SUPPORT GROWTH OPPORTUNITIES STABLE CORE BUSINESSES GROWTH OPPORTUNITIES • Memorialization – Demographic (death rate) trends support long-term stable demand for core product lines – Strong market positions/cust

22. Slide 22: Disciplined Track Record of Acquisitions and Integration

    © 2022 Matthews International Corporation. All Rights Reserved. 22 3 DISCIPLINED TRACK RECORD OF ACQUISITIONS AND INTEGRATION • Identify and integrate complementary businesses with an insistence on prudent capital deployment • Focus on complementary geographies with minimal customer overlap • Immedi

23. Slide 23: Robust Cash Flow and Low Leverage

    © 2022 Matthews International Corporation. All Rights Reserved. 23 Note: All figures reflect fiscal years ended September 30th; Historical FY1994 – FY2018 reflect amounts as reported in the Company's 10-K filings for those fiscal years. See Disclaimer (Page 2) for Management’s assessment of suppleme

24. Slide 24: Strong and Experienced Management Team

    © 2022 Matthews International Corporation. All Rights Reserved. 24 5 STRONG AND EXPERIENCED MANAGEMENT TEAM Joseph Bartolacci Chief Executive Officer and President Greg Babe Chief Technology Officer Brian Dunn EVP, Strategy and Corporate Development Steven Gackenbach Group President of Memorializati

25. Slide 25: Financial Overview

    © 2022 Matthews International Corporation. All Rights Reserved. 25 FINANCIAL OVERVIEW

26. Slide 26: Debt Reduction and Growth

    © 2022 Matthews International Corporation. All Rights Reserved. 26 DEBT REDUCTION • Historically maintained a modest leverage profile • Publicly stated Net Debt Leverage Ratio (1) target of 3.0x or less • Continued debt reduction, balanced growth and share repurchase • Approximately $190mm of debt r

27. Slide 27: Sales and Adjusted EBITDA by Segment

    © 2022 Matthews International Corporation. All Rights Reserved. 27 (Dollars in thousands) Fiscal Year Ended September 30, Year to Date June 30, 2019 2020 2021 2021 2022 Sales: Memorialization $ 636,892 $ 656,035 $ 769,016 $ 573,068 $ 633,868 Industrial Technologies 239,238 228,453 284,495 200,538 23

28. Slide 28: ESG Overview

    © 2022 Matthews International Corporation. All Rights Reserved. 28 ESG OVERVIEW

29. Slide 29: Bringing Environmentally Responsible Solutions to the Marketplace

    © 2022 Matthews International Corporation. All Rights Reserved. 29 BRINGING ENVIRONMENTALLY RESPONSIBLE SOLUTIONS TO THE MARKETPLACE • Provider of Energy storage solutions including battery production technology for electric vehicles • Waste-to-Energy solutions with projects in UK and Europe SOCIALL

30. Slide 30: Appendix

    © 2022 Matthews International Corporation. All Rights Reserved. 30 APPENDIX

31. Slide 31: Total Adjusted EBITDA Non-GAAP Reconciliation

    © 2022 Matthews International Corporation. All Rights Reserved. TOTAL ADJUSTED EBITDA NON-GAAP RECONCILIATION (Unaudited) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted EBITDA. 31 (In thousands, except per share data) Fiscal Year Ended September

32. Slide 32: Adjusted Net Income and EPS Non-GAAP Reconciliation

    © 2022 Matthews International Corporation. All Rights Reserved. ADJUSTED NET INCOME AND EARNINGS PER SHARE NON-GAAP RECONCILIATION (Unaudited) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted net income and adjusted EPS. 32 (In thousands, except p

33. Slide 33: Net Debt and Net Debt Leverage Ratio

    © 2022 Matthews International Corporation. All Rights Reserved. 33 (Dollars in thousands) Fiscal Year Ended September 30, June 30, (unaudited) 2019 2020 2021 2022 Long-term debt, current maturities $ 42,503 $ 26,824 $ 4,624 $ 3,364 Long-term debt 898,194 807,710 759,086 772,673 Total debt 940,697 83

34. Slide 34: Free Cash Flow

    © 2022 Matthews International Corporation. All Rights Reserved. 34 (Dollars in thousands) Fiscal Year Ended September 30, Nine Months Ended June 30, 20222019 2020 2021 Cash Provided from Operating Activities $ 131,083 $ 180,447 $ 162,811 $ 84,367 Less: Capital Expenditures (37,688) (34,849) (34,313)

35. Slide 35: Institutional Shareholders

    © 2022 Matthews International Corporation. All Rights Reserved. 35 Shares June 30, 2022 BlackRock, Inc. 5,399,897 The Vanguard Group, Inc. 3,512,363 Phoenix Holdings Ltd. 1,814,248 Dimensional Fund Advisors, L.P. 1,482,001 Gamco Investors, Inc. et al 1,137,850 State Street Corporation 1,133,475 Amer

36. Slide 36: © 2022 Matthews International Corporation. All Rights Reserved.

    © 2022 Matthews International Corporation. All Rights Reserved.

Matthews International — Q3 2022 Earnings Presentation on 6ix