May 2026 Investor Day Presentation

INVESTOR PRESENTATION

Investor Day

May 12, 2026

Mtron (NYSE AM: MPTI) is a NYSE American publicly traded corporation

• Formed in 1965

• Aerospace and Defense Focused Since 2004 Acquisition

• Listed NYSEAM in October 2022 via Spin Off at ~$13 ( $10.85-$85.95 Range)

• 4.3 mm Shares Outstanding1, No Debt, and Free Cash Flow Generation

• Raised $70 mm over past six months and has approx. $94 mm1 of cash on the B/S

• Broad employee ownership to align interest with shareholders

  Mtron Profile

• American Defense Contractor in High Growth Niche Markets

• Specialist in Robust Engineered Microwave & RF Applications

• One of the few vertically integrated RF companies in the US

• Positioned to access long term value creation opportunities

• Platform for Growth Through Mergers and Acquisitions

  1 After close of the Rights Offering on 4/27/2026.

  3

  
  
  

  Investment Highlights

4

Vertically Integrated RF Solutions

Highly-engineered, high reliability precision components and solutions including Filters, Oscillators, Resonators, and Innovative RF Solutions

Blue-Chip Customer Base

Diverse global customer base including industry leaders in the Aerospace & Defense, Avionics, Space, and Industrials sectors

Strong Market Performance

Delivering strong returns to shareholders of 561% since spin-off on October 7, 2022, indicative of our unique strategy and strong execution

Source: Company data

5

Senior Management Team

Cameron Pforr

Chief Executive Officer & Chief Financial Officer

Linda Biles

Executive Vice President, Finance

William Drafts

President

Non-Executive Board Members

Bel Lazar

Co-Chairman

COO and Board Member Efficient Power Conversion CEO of EPC Space

Marc Gabelli

Co-Chairman

Chief Executive Officer

Gabelli Securities International Ltd

Hendi Susanto

Director

SVP & Portfolio Manager, Gabelli Funds

Robert LaPenta Jr.

Director Managing Partner Aston Capital

John Mega

Lead Independent Director

Former SVP and President L3's Communication Systems

David Goldman

Director

General Counsel

GAMCO Asset Management, Inc.

Ivan Arteaga

Director

Chief Investment Officer Arteaga Capital Management

6

2024

Mtron launches its first space -borne IMA

2022

Mtron launches Planar Filter Product Line and High frequency, low noise OCXO family

2017

Mtron introduces its first electronical vibration compensated OCXO

2002

Mtron purchases assets of Champion Technologies (formerly Motorola) adding VCXO, TCXO and timing solutions

1973

PTI supplies the first monolithic filters used in space

2022

Mtron completes separation from The LGL Group, Inc., becoming an independent,

publicly traded company

2020

Mtron launches Integrated Microwave

Assembly (IMA)

2004

Mtron acquires PTI

1976

Lynch Corporation (predecessor to The LGL Group, Inc.) acquires Mtron

1965

Mtron and Piezo Technology (PTI) are organized separately

7

Robust Engineered RF Components and Solutions since 1965

8.1%

4.0%

22.7%

65.2%

FY2025:

Aerospace & Defense Avionics

Space Industrials

7.0%

27.5%

65.5%

FY2025:

Filters Oscillators

Resonators & Solutions

Strategically Targeting Larger Opportunities

• Strong Customer Relationships for Robust Solutions

• Tailored New Products 25-30% Sales 3

• Number of Products >$500k Annually Increased 50%

• 79% Increase in Program Business Since 2021

  1. Trailing 12 months ended and as of March 31, 2026

  2. Management Estimated Ranges based on historical averages; Five year Revenue CAGR was 12.6% from 2020-2025; Adjusted EBITDA Range before Non Cash charges and one time expenses

  3. Revenue from products introduced in the last 4 years was 30.4% 8

Source: Company data

s56.4mm 44.9%

Sales1 Gross Margin1

s76.8mm Backlog1

12.6% 19-23%

Revenue CAGR2 Adj EBITDA Margins2

60-80%

FCF Conversion2

• Applications within Avionics, Space, Communications, Electronic Warfare, Instrumentation, and Radars

• Vertically integrated into crystal filters and oscillators

• Applications within Avionics, Space, Communications, Electronic Warfare, Instrumentation, and Radar

• Products include Crystal, LC, Cavity, Planar, Waveguide, Ceramic, Duplexer, Multiplexer and Switched Filters

FY'25 Revenue Split by Product

Filters

Oscillators

Other

7.0%

27.5%

65.5%

• Spanning frequencies from 10MHz to 50GHz, multiple components integrated into SWaP-C assemblies

• Applications within Avionics, Communications, Electronic Warfare, Instrumentation, and Radar

• Products include XO, TCXO, VCXO, OCXO, e-VibeTM OCXO

Source: Company data

9

• Low drift enhances faster and error-free transmission

• Ultra-low phase noise enables clearer, more reliable data transmission

Best In-Class Phase Noise

• Low drift improves accuracy of radar measurements

• Reduced phase noise improves radar detection of slower and smaller objects

World's Best Performance Vibration ImmuneOCXO

10

• Low drift maximizes synchronization of multiple components within a communication system

World Class Drift Performance

Smallest Hi-Frequency OCXO Available

• High stability improves jamming, deception, and intelligence gathering

• Higher frequency enhances faster and

error-free transmission

• High selectivity improves jamming,

deception, and intelligence gathering

• High selectivity improves accuracy of

radar measurements

• Low insertion loss enables clearer, more

reliable data transmission

• Reduced insertion loss improves radar

detection of slower and smaller objects

Wide Range of Frequencies Available Best In-Class Selectivity World Class Insertion Loss

11

• Mtronuses the same circuit, electromagnetic, mechanical, thermal, and stress analysis modeling tools as our customers, which is effortlessly integrated into the customer's system synthesis

• Design collaboration acts an extension of the customer'sdesign team and allows our customer's resources to focus on their areas of expertise

• Utilizesseveral in-house rapid prototyping methods to speed development with a fast-fail approach

  
  
  

• The result of having Mtronfocus on the design concept, prototypedevelopment, and transition to full rate production is ashortened design cycle and a fastertime to market

• Custom integration offersadditional benefits of enhanced system performance, fewer interfaces, compact mechanical packaging, less individual components, and reduced test and integrationtimes

12

Constant Innovation with Strategic Targeting of Larger Opportunities

• ~30% of FY'25 Revenue comes from products introduced since 2021

• New product development is a key component of strategy with development tailored to deepen customer relationships

• Number of products >$500k annually increased ~50%

• 35.2% increase in ASP since 2021

New Product Revenue ($M)

Total Revenue ($) ASP

$110.58

$113.73

$54.4

$92.19

$49.0

$84.11

$73.54

$41.2

$31.8

$26.7

$9.5

(~36%)

$9.0

(~28%)

$11.4

(~28%)

$14.9

(~30%)

$16.5

(~30%)

$9.5

$9.0

$11.4

$14.9

$16.5

FY'21A FY'22A FY'23A FY'24A FY'25A

13

Servicing High Growth Market Applications

Precision-Guided Munitions

Radar

Commercial Aerospace

Space & SATCOM

14

Modern warfare based on sensors, ai, control of electromagnetic spectrum, autonomous systems and precision munitions

• Missile and precision weapon usage has exceeded years of historical production capacity

• Manufacturing infrastructure designed for lower peacetime procurement volumes

• U.S. and allied forces focusing on stockpile replenishment and expansion

• Increasing importance of networked battlefield systems and integrated

targeting capabilities

• Contracting long-term agreements to dramatically expand production capacity for precision-guided weapons

• Accelerating industrial base expansion

• DoW supporting development of more nimble suppliers

• Increasing investment in networked communications and targeting systems

Defense contractors may benefit from:

• Higher production volumes

• Longer production contracts

• Sustained investment in advanced defense technologies

• Greater DoW support for innovative small to mid-tier players

15

CSIS study on Munitions Depletion Highlights Pressure on US Stockpile

• Iran conflict has cost US dearly in several critical munitions

• CSIS team and others tracking usage of critical munitions and estimating time required to replenish

• US Defense Industrial Base not currently capable of producing in volumes required for

• Under Secretary Feinberg's 7-year missile contracts moving in right direction to stimulate investment required

• Mtron is key supplier to many of these programs and should benefit long-term from this renewed focus

  Source: CSIS Study "Last Rounds? Status of Key Munitions at the Iran War Ceasefire," April 2026

  16

  
  
  Product Applications: Precision-Guided Munitions

  Pinpoint Missile Accuracy with Superior Electronic Technology

  • Defense agencies are focusing on high-performance, precision strike weapons that have farther standoff, multi-mode seekers, robust guidance systems, and less time for target selection with less collateral damage

  • MPTI has several design wins for clocks, oscillators, and filters within various Missile Defense Programs

  Radar Guided

  • OCXO, TCXO and LC Filter

    Missile Data Links

    • LC Filter and Crystal Filter

Laser and Electro-Optically Guided

• Clock Oscillator and TCXO

  Some Missile Programs average approximately s10,000 of Mtron content per missile

  Source: Company data

  17

  
  
  
  
  Product Applications: Radar

  Precision Surveillance Technology to Ensure Security

  • Hypersonic missiles and drones require highly advanced radars which drive the need for high-performing filters and oscillators

  • Both commercial and military aircraft utilize Mtron components on their on- board radars

  
  
  

  Transmitter

  • LC Filter, Cavity Filter, Waveguide Filter

Receiver

• LC Filter and Crystal Filter

  Signal Processing

• TCXO, OCXO and Crystal Resonator

  Pathto Antenna

• Duplexer, Diplexer, Multiplexer, Cavity Filter, Waveguide Filter, LC Filter

  Master Clock

  • LC Filter and Crystal Filter

Radar systems use between s700 and s9,000 of Mtron content per system.

18

High Reliability Timing, Spectrum & Frequency Control

• Current Electronic Warfare systems face the challenge of operating in a more congested RF environment, requiring rugged and precise devices and solutions

• The DoD requested $842B in its FY'24 budget to support hundreds of Electronic Warfare programs, all of which can utilize MPTI's precise resonators, clocks, oscillators, and filters

Pathto Antenna

• Duplexer, Diplexer, Multiplexer, Cavity Filter, Waveguide Filter, LC Filter

  Transmitter

• LC Filter, Cavity Filter, Waveguide Filter, Power Amplifier

  Receiver

• LC Filter and Crystal Filter

  Signal Processing

  • TCXO, OCXO and Crystal Resonator

    Master Clock

  • OCXO/TCXO

19

Platform Flexibility with Multiple Touchpoints

• ~16 design slots on nearly every Boeing and Airbus commercial airplane

• Provides rugged, proven, reliable oscillators, clocks, and filters in numerous applications, from flight control to navigation

• Serves multiple end-markets including smaller regional and business jet markets

Flight Control (Fly-by-wire)

• Clock Oscillator

  Emergency Beacon System

• OCXO

  InFlight Connectivity

  
  
  

• Clock Oscillator

  Pilot Communications

  • TCXO, LC Filter, Crystal Filter

    Instrument Landing Systems (ILS)

    • Clock Oscillator

      Navigation Radar

      • TCXO and LC Filter

        Engine Control

        • Clock Oscillator

          Radio Altimeter

  • Cavity Filter, LC Filter, Ceramic Filter and TCXO

Traffic Collision Avoidance System (TCAS)

• Clock Oscillator, TCXO, OCXO, LC Filter

Average Mtron content per airplane - approximately s7,000

20