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PROPRIETARY & CONFIDENTIAL This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal and/or civil liability. Q3 2026 EARNINGS UPDATE October 29, 2026
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 2 This presentation contains certain items, such as earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA, Adjusted EBITDA Margins, Free Cash Flow and net debt, as well certain income and expense items on a per share basis, that could be considered ‘non-GAAP’ financial measures under SEC rules. We think such items provide useful information to investors regarding the Company’s operational performance. This presentation also may contain statements, estimates, or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections as expressed or implied by the forward-looking statements in this presentation. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance or achievements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Viewers are cautioned not to place undue reliance on these forward-looking statements. Forward- looking statements speak only as of the date they are made, and we undertake no obligation to update them publicly in light of new information or future events. Certain additional disclosures regarding our use of “non-GAAP” items (including reconciliations to GAAP measures) and forward-looking statements are set forth in our SEC filings, including our most recent annual and quarterly reports. Please refer the appendix of this presentation or the earnings release found on the investor relations section of our website at ALBINT.com for the concise reconciliation of our non-GAAP measures. Our use of such items in this presentation is subject to those additional disclosures, which we urge you to read. SAFE HARBOR STATEMENT
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PROPRIETARY & CONFIDENTIAL A Differentiated Materials Science Company Applying Advanced Industrial and 3D Weaving Technologies to Critical Aerospace, Defense, Paper and Industrial Applications. 3
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 4 STRATEGIC OVERVIEW Two unique end markets from one shared expertise in weaving technology Global leader in paper machine fabrics and process belts Leading position in engineered fabrics supporting a range of industrial applications Proprietary technology for complex applications Long-term stability trending with GDP Strong free cash flow generator Long-term growth engine Born organically from weaving and composites manufacturing capabilities Industrialized and Proprietary 3D weaving technology - LEAP and GE9X Beyond 3D weaving, our differentiated capabilities include; braiding, winding, and resin transfer molding for end markets that include engines, space, missiles, ceramic matrix composites, and titanium replacements M A C H I N E C L O T H I N G E N G I N E E R E D C O M P O S I T E S
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 5 MACHINE CLOTHING END MARKETS G E O G R A P H Y P A P E R G R A D E AMERICAS MODERATING Continued moderation tied to customer facility closures and consolidation EUROPE STABLE Market stabilized, demand consistent ASIA STABLE Overall demand has been stabilizing but near-term visibility is limited TISSUE Bright spot globally with planned new investments supporting growing demand PACKAGING Long-term secular trends remain stable; near-term industry consolidation negatively impacting demand PUBLICATION Declining trend continues across all regions PULP Some softness in pulp reflecting geopolitical conditions ENGINEERED FABRICS Remains stable with some softness in Asia albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential Long-term stability driven by growing middle class, continued growth in e-commerce, sustainability and renewable paper products
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 6 ENGINEERED COMPOSITES END MARKETS Broad portfolio performing; portfolio reshaping to enhance profitability C O M M E R C I A L D E F E N S E AEROSPACE STABLE F-35 program at rate New Product Introduction in work following recent key program wins CONVENTIONAL MISSILES GROWING JASSM/LRASM increasing production to support Department of War Technology breadth and new CMC capabilities generating solid rocket motor case & nozzle opportunities HYPERSONIC MISSILES EMERGING Continuing development on capabilities for hypersonic thermal protection systems with key partnerships and facility expansion in work. IBAS (Industrial Base Analysis and Sustainment )award of $21.2M to advance carbon-carbon composite TPS for hypersonic vehicles and solid rocket motors AEROSPACE GROWING 787 One Piece Frame production rate remains strong Strategic collaboration with A&P Technology for Advanced Braided Composite Solutions to strengthen AEC’s technology offerings and increase market position ENGINES GROWING LEAP deliveries increasing in-line with the OEM SPACE EMERGING Leveraging CMC capabilities developed for defense hypersonics and solid rocket motor applications to commercial space opportunities albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 7 ENGINEERED COMPOSITES GROWTH Significant expansion of opportunities for our portfolio of Advanced Composite Technology Solutions ▪ Continuing with rapid development of our high-temperature composite capabilities utilizing our advanced 3D woven and infusion technologies in support of solid rocket motors and hypersonic missile applications. Industrial Base Analysis and Sustainment, or IBAS, award of $21.2M, to complement our investment in Ceramics Matrix composites. ▪ Signed a Teaming agreement with Lockheed Martin to Drive Scalable Production for U.S. Hypersonic Programs. ▪ Contract extension with Boeing 787 -Continues to manufacture ~300 unique composite fuselage frames for the Boeing 787 Dreamliner, including Sections 41, 43, and 47, building on Albany's long-standing role producing frames for Sections 41 and 43 since the original program award in 2014. ▪ Partner on the UK Aerospace Technology Institute’s Aviation_2 Project led by Airbus, expanding development opportunities for next-generation aircraft technologies Photo: Northrop GrummanPhoto: Pratt & Whitney
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 8 Q3 CONSOLIDATED FINANCIALS (Millions USD, except per share data) Q3 2026 Q3 2025 Total Revenue* $349.5 $261.4 Adjusted** EBITDA $100.1 $(91.1) Adjusted** EBITDA Margin 28.6% (34.8)% Adjusted** Diluted Earnings Per Share $1.68 $(3.29) ** For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release dated September 29, 2026.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 9 AMELIA EARHART DRIVE ADJUSTMENTS (Thousands USD, except per share data) Q3 2026 Contribution Q3 2025 Reduction Revenue $11,637 $(46,007) Gross Margin1 $33,393 $(147,269) EBITDA $44,407 $(147,269) Diluted Earnings Per Share2 $0.88 $(4.00) ** For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release dated September 29, 2026. Summary of adjustments related to the renegotiation of the CH-53K contract in the third quarter of 2026 and the conclusion of the Amelia Earhart Drive Strategic Review, and the CH-53K loss reserve adjustment recorded in the third quarter of 2025. 1 Q3 2026 includes CH-53K impact of $44.4 million offset by catch-up of depreciation and amortization of $(11.0) million 2 Q3 2026 Diluted EPS impact includes a tax effect of $8.3 million
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 10 Q3 MACHINE CLOTHING FINANCIALS ON A CONSTANT CURRENCY BASIS (Millions USD) Q3 2026 Q3 2025 Revenue* $169.7 $175.0 Adjusted* EBITDA $46.7 $54.2 Adjusted* EBITDA Margin 27.5% 31.0% * For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release dated October 28, 2026.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 11 Q3 ENGINEERED COMPOSITES FINANCIALS ON A CONSTANT CURRENCY BASIS (Millions USD) Q3 2026 Q3 2025 Revenue $179.7 $86.5 Adjusted*EBITDA $65.6 ($134.5) Adjusted* EBITDA Margin 36.5% (155.5%) • For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release dated October 28, 2026.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 12 Q3 CASH FLOW AND BALANCE SHEET (Millions USD) Q3 2026 Q3 2025 Free Cash Flow* $36.5 $25.7 R&D Spend $12.2 $11.5 Capex $12.2 $18.3 * For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release October 28, 2026.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 13 FINANCIAL SNAPSHOT Strong balance sheet and cash flow supports disciplined capital allocation Balanced capital allocation strategy directed toward organic growth through CAPEX and consistent R&D investment, along with return of cash to shareholders. Complementary business segments optimize capital generation and investment: • Steady, predictable high-cash generation in Machine Clothing • High growth opportunities with 3D woven and advanced composites technologies in AEC $457M Liquidity Available as of 3Q26 1.68X Net Leverage Ratio as of 3Q26 $36.5M *Free Cash Flow $12.2M CAPEX Spend $12.2M R&D Spend $8.0M Dividends to Shareholders For the third-quarter ended September 30, 2026 *For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release dated October 28, 2026.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page | Proprietary & Confidential 14 GUIDANCE Underlying trends persist into Q4 Machine Clothing • Americas moderating, seeing some softness related to paper industry capacity rationalization • Stabilization in Europe • Stabilization in China, with limited visibility for the balance of the year Engineered Composites • LEAP continues to be a solid program with expected double digit growth over the next couple of years • In Defense markets, momentum around ramp up for missile demand is strong Q4 2026 broadly consistent with recent trends Outlook for the Fourth Quarter of 2026: • Consolidated revenue between $325 million and $335 million • Machine Clothing revenue between $170 million and $175 million • Engineered Composite revenue between $155 million and $160 million • Adjusted EPS between $0.65 and $0.75 • Fourth quarter effective tax rate of 29.5% Focused on positioning for stronger long-term growth
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PROPRIETARY & CONFIDENTIAL This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal and/or civil liability. QUESTION AND ANSWER 15
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PROPRIETARY & CONFIDENTIAL This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal and/or civil liability. APPENDIX 16
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 17 APPENDIX GAAP to non-GAAP reconciliation Reconciliation of Net income/(loss) (GAAP) to Adjusted EBITDA (non-GAAP) for the current-year and comparable prior-year periods have been calculated as follows.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 18 APPENDIX GAAP to non-GAAP reconciliation Reconciliation of Net income/(loss) (GAAP) to Adjusted EBITDA (non-GAAP) for the current-year and comparable prior-year periods have been calculated as follows.
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 19 APPENDIX GAAP to non-GAAP reconciliation The following table presents the reconciliation of Net revenues to net revenues excluding the effect of changes in currency translation rates, a non-GAAP measure:
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 20 APPENDIX GAAP to non-GAAP reconciliation The following table presents the reconciliation of Machine Clothing's Adjusted EBITDA Margin to Adjusted EBITDA Margin excluding the effect of changes in currency translation rates, a non-GAAP measure:
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 21 APPENDIX GAAP to non-GAAP reconciliation Per share impact of the adjustments to earnings per share are as follows:
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 22 APPENDIX GAAP to non-GAAP reconciliation The following table provides a reconciliation of Earnings per share attributable to the Company shareholders - Diluted (GAAP) to Adjusted earnings per share attributable to the Company shareholders - Diluted (non-GAAP):
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 23 APPENDIX GAAP to non-GAAP reconciliation The calculations of net debt are as follows:
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albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 24 APPENDIX GAAP to non-GAAP reconciliation Free cash flow is defined as GAAP "Net cash provided by operating activities" in a period less "Purchases of property, plant and equipment" and "Purchased software" in the same period. Management believes free cash flow provides an important perspective on our ability to generate cash from our business operations and, as such, that it is an important financial measure for use in evaluating the Company's financial performance. Management uses free cash flow internally to assess overall liquidity. The following table illustrates the calculation of free cash flow: