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Third Quarter 2026 Earnings Presentation October 29, 2026
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2 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-looking statements may be identified by the use of words such as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, the following: the concentration of our business on the aerospace and defense industries; the unique business risks of supplying products to companies contracting with the U.S. government; the significant competition that we face; our industry’s rapid change; any decline or lower-than-anticipated growth of the markets into which we sell our products and services; cost overruns; the availability and pricing of certain components and raw materials from suppliers; inflation; our products may not operate as intended; our decentralized organizational structure; our indebtedness and the restrictive covenants under the agreements governing our indebtedness; our ability to comply with the extensive governmental regulation to which we are subject; our ability to maintain our government or industry approvals; product liability lawsuits and product recalls; and our ability to obtain, maintain, protect and enforce our intellectual property and proprietary rights on which our business depends. Investors should not rely on these forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this Presentation, and Arxis, Inc. (the “Company”) does not undertake any obligation to update or revise any forward-looking statements, except as required by law. Additional information regarding these and other risks and uncertainties that could cause actual results to differ materially from the Company’s expectations is included in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. This presentation is a high-level summary of our fiscal Q3 financial results. For more information, refer to our press release dated October 28, 2026, and filings with the SEC. Non-GAAP Financial Measures Disclosure This presentation, and today’s conference call remarks, contain non-Generally Accepted Accounting Principles (GAAP) financial measures (as defined by SEC Regulation G), such as “Adjusted EBITDA,” “Adjusted EBITDA margin,” and “Free Cash Flow” which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures. For reconciliations of the non-GAAP measures included herein to the most directly comparable GAAP measures, see the Appendix to this Presentation. While management believes that these non-GAAP financial measures may be useful in evaluating the financial performance of Arxis, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. Management recognizes that these non-GAAP financial measures have limitations, including that they may be calculated differently by other companies or may be used under different circumstances or for different purposes, thereby affecting their comparability from company to company. To compensate for these and the other limitations discussed below, management does not consider these measures in isolation from or as alternatives to the comparable financial measures determined in accordance with U.S. GAAP. Readers should review the reconciliations below and should not rely on any single financial measure to evaluate our business. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable U.S. GAAP financial measures follow. Unless otherwise noted, tables are presented in U.S. dollars in thousands. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented in this report are calculated from the underlying numbers in thousands.
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33 Arxis Performance Update (1) Additional detail on non-GAAP financial measures, including reconciliations, is provided in the appendix. (2) Arxis has not reconciled its full year 2026 guidance related to Adjusted EBITDA and Adjusted EBITDA margins to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP measure without unreasonable effort or expense. Revenue $564M 36% YoY Reported Growth Adjusted EBITDA(1) $256M 67% YoY Growth Adjusted EBITDA Margin (1) Margin(1_ 45.4% 840 bps YoY Growth Q3 2026 Financial Highlights CY 2026 Guidance Increasing Guidance Revenue $2,050M - $2,070M Adjusted EBITDA(2) $855M - $865M +90M Vs. prior midpoint +65M Vs. prior midpoint 29% YoY Organic Growth Introducing 2027 Guidance
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4 Ramp Capture Builds a Larger Base That Compounds Illustrative “Layer Cake” Revenue Model (1) Key programs such as Patriot, F-35, 737, and industrial platforms ramping simultaneously, driving growth above long-term algorithm M&A adds new layers to the base, executed in partnership with Arcline Arxis EDGE wins new content every year, adding new layers that grow strongly as platform production rates ramp Recent wins at early stage of ramp Existing platforms ramping to higher production rates, then leveling off at a larger base Prior wins from earlier cohorts are continuing to expand 2021 2022 2023 2024 2025 2026E 2027E 2028E (1) Bars do not represent actual revenue or company guidance. Darker layers are earlier wins; dashed bars are illustrative
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5 Continued Execution of Our M&A Strategy • Access to 70+ person team • Capabilities in M&A sourcing, due diligence, and execution • Deep expertise in engineered components business model • Disciplined capital allocation framework • Long-term alignment of incentives Mechanical Components Closed Jan 2026 Electronic Components Closed Jun 2026 Mechanical Components Closed Jul 2026 Electronic Components Closed Aug 2026 Electronic Components Closed Sep 2026 Mechanical Components Closed Sep 2026 Growing the business through M&A in partnership with Arcline Recently closed acquisitions Arcline Strategic Partnership
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6 Outsized Value-to-Cost Ratio Cutting-Edge Performance at the Extreme Design Into Mission- Critical Applications Premier Supplier of Proprietary Engineered Components Common Business Model Attributes Across Arxis Custom, Highly- Engineered Solutions End Market Mix(1) Segment Breakdown(1) Product IP(1), (2) Proprietary 90% Other 10% Mechanical Components 56% Electronic Components 44% (1) As a percentage of Revenue for the fiscal year ended December 31, 2025. (2) Proprietary defined as products that are uniquely designed, developed, and owned by Arxis, often protected by patents, trade secrets, or exclusive manufacturing processes. Defense & Space 47% Commercial Aero & Business Jet 23% Industrial Technology 30%
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7 A Differentiated Model for Long-Term Growth Tailwinds Differentiation Arxis EDGE World-Class Engineering and R&D Capabilities Unified Decentralized Org Structure Repeatable M&A Engine High Growth and Diverse End Markets New Business Machine
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8 Our Long-Term Growth Algorithm HSD+ Organic Revenue Growth % LDD+ Organic EBITDA Growth % M&A 50% Incremental Margin Note: HSD is High Single Digit and LDD is Low Double Digit
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9 $69M $150M Q3 2025 Q3 2026 $153M $256M Q3 2025 Q3 2026 $415M $564M Q3 2025 Q3 2026 9 Revenue Q3 2026 Financial Results +36% YoY +117% YoY • Revenue increased +36% YoY • 29% organic growth • 7% contribution from acquisitions • Double digit growth across all three end markets Continued operating momentum delivering strong profitability and cash conversion • Strong operating leverage and favorable pricing • Continued improvements in operational performance • 69% incremental EBITDA conversion • Earnings growth and working capital improvement • Disciplined cash management and conversion (1) Additional detail on non-GAAP financial measures, including reconciliations, is provided in the appendix. (2) Basis point changes are calculated using unrounded Adjusted EBITDA margin percentages and may not reconcile to displayed percentages due to rounding. Adjusted EBITDA(1) Free Cash Flow(1) +67% YoY 37.0% 45.4%
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1010 Capital Structure Update Financial flexibility to support disciplined M&A and growth • Paid down $946M Term Loan B in April with portion of IPO proceeds • $1.1 billion total available liquidity ($494M cash, $396M undrawn revolver, and $201M available delayed draw term loan) • Strong free cash flow generation further enhances acquisition capacity 4.2x 4.0x 1.8x 1.6x Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Leverage(1) (Net Debt / Adj. EBITDA(1)) (1) Additional detail on non-GAAP financial measures, including reconciliations, is provided in the appendix.
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1111 Full Year 2026 Guidance (1) Arxis has not reconciled its full year 2026 guidance related to Adjusted EBITDA and Adjusted EBITDA margins to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP measure without unreasonable effort or expense. (2) Management’s organic revenue growth estimate includes industry volume, new business volume and price realization. (3) Change compared to prior guidance midpoint. (4) Incremental contribution from Omnetics, Schatz and StratEdge, which closed after the company’s Q2 2026 earnings release on July 29, 2026. Revenue $2,050M-$2,070M ~29% - 30% reported YoY growth ~21% - 22% organic(2) YoY growth Adj. EBITDA(1) $790M - $800M ~40.4% margin ~38% - 40% reported YoY growth Current Guidance $1,960M - $1,980M ~23% - 24% reported YoY growth ~20% - 21% organic(2) YoY growth Prior Guidance $855M-$865M ~41.7% margin ~50% - 51% reported YoY growth +$90M 5% increase +$65M +130 bps margin Vs. Prior Guidance(3) (+$60M from M&A4) (+$20M from M&A4) (Includes 30 - 40 bps dilution from M&A completed in 2026)
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1212 Full Year 2026 End Market Assumptions (1) Management organic revenue growth estimate includes industry volume, new business volume and price realization. (2) For the fiscal year ended December 31, 2025. 2026 Arxis Assumed Growth by End Market(1) Defense & Space Commercial Aerospace & Business Jet Low to mid 20% organic(1) growth Industrial Technology 47% of revenue(2) 23% of revenue(2) 30% of revenue (2) ~20% organic(1) growth Low to mid 20% organic(1) growth
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1313 Full Year 2027 Guidance (1) Arxis has not reconciled its full year 2027 guidance related to Adjusted EBITDA and Adjusted EBITDA margins to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP measure without unreasonable effort or expense. (2) Management organic revenue growth estimate includes industry volume, new business volume and price realization. (3) 2027 Adj. EBITDA Margin includes 20 - 30 basis points of dilution from acquisitions completed in 2026. (4) 2027 revenue and Adjusted EBITDA growth are compared with the midpoints of 2026 guidance issued October 28, 2026. Revenue $2,400M - $2,500M ~17% - 21% reported YoY growth ~10% - 15% organic(2) YoY growth Adj. EBITDA(1) 2027 Outlook(4) $1,010M - $1,060M ~17% - 23% reported YoY growth 42.1% - 42.4% Margin(3)
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Appendix
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15 Additional 2026 Inputs (1) As of September 30, 2026; does not include potentially dilutive shares for the Company’s convertible common stock and outstanding restricted stock units (RSUs) (2) Includes 13.4M shares issued as part of Omnetics transaction Capital Expenditures $63M Interest Expense $130M Effective Tax Rate 29.0% - 30.0% Depreciation & Amortization $226M Share-Based Compensation $153M Tax Receivable Agreement (TRA) Expense $13M Convertible Common Stock Compensation Expense $18M Common Shares Outstanding 431M shares(1,2) 2026
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1616 Non-GAAP reconciliations Adjusted EBITDA and Adjusted EBITDA Margin % (non-GAAP) Adjusted EBITDA is defined as net income (loss), adjusted to exclude interest expense, net, income tax expense (benefit), depreciation and amortization, acquisition and integration costs, restructuring costs, transaction and other deal related expenses, share-based compensation expense and related employer payroll taxes, and other items that management does not consider indicative of the Company’s core operating performance. Management defines Adjusted EBITDA Margin as Adjusted EBITDA divided by Revenue. We believe that Adjusted EBITDA and Adjusted EBITDA margin are important metrics for management and investors as they remove the impact of items that we do not believe are indicative of our core operating results or the overall health of our company and allow for consistent comparison of our operating results over time and relative to our peers. Free Cash Flow (non-GAAP) Free Cash Flow is defined as net cash provided by (used in) operating activities less capital expenditures. We believe this measure allows management and investors to evaluate the capacity of our operations to generate cash that is available to service debt and make strategic investments and acquisitions. Net Leverage (non-GAAP) Net Leverage is defined as net debt divided by Adjusted EBITDA for the trailing twelve-month period. Net debt is calculated as total debt, less cash and cash equivalents. We believe this measure allows us to evaluate our capital structure, indebtedness, and ability to service debt.
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1717 Adjusted EBITDA and Margin Reconciliation Y ear E nded December 31, (in thousands, except percentages) 2026 2025 2026 2025 2025 Net income (loss) 83,713$ (10,097)$ 132,113$ (43,677)$ 45,989$ Interest ex pense, net 17,888 48,259 101,273 173,875 220,316 Income tax ex pense (benefit) 36,021 54,900 55,219 110,740 16,325 Depreciation and amortization 57,445 50,527 161,001 148,620 200,111 Acquisition and integration costs (1) 5,594 287 7,031 20,250 23,313 Restructuring costs (2) — 1,772 270 4,247 3,772 Transaction and other deal related ex penses (3) 11,256 3,035 20,300 7,990 12,695 Share-based com pensation ex pense(4) 31,182 4,789 140,773 9,325 27,259 Other non-recurring adjustm ents(5) 12,842 — 24,654 9,901 21,524 Adjusted EBITDA 255,941$ 153,472$ 642,634$ 441,271$ 571,304$ Revenue 563,979$ 414,827$ 1,523,565$ 1,195,350$ 1,591,020$ Adjusted EBITDA Margin 45.4% 37.0% 42.2% 36.9% 35.9% (5) Represents other incom e and ex pense adjustm ents that are non-recurring, non-operational, or not reflective of core perform ance, such as loss on disposal of assets, com m ercial com m itm ents or legal settlem ents, incom e from transition services agreem ents and non-operational pension im pacts. Includes $13.3 m illion of ex pense related to the Convertible-Related Tax Receivable Agreem ent for the nine m onths ended Septem ber 30, 2026, and $12.0 m illion of ex pense related to the Jacksonville Business m atter for the three and nine m onths ended Septem ber 30, 2026. Three Months E nded September 30, (1) Represents costs incurred to integrate acquired businesses and product lines into our operations, facility relocation costs, rebranding, system im plem entation costs and em ployee ex penses related to acquisitions. This also includes am ortization ex penses of inventory step-up recorded in connection with purchase accounting of acquired busi nesses. (2) Represents severance, facility consolidation/closure costs and other charges associated with restructuring program s. (3) Represents third-party transaction-related costs for acquisitions com prising deal fees, legal, financial and tax due diligence ex penses and valuation costs that are required to be ex pensed as incurred. (4) Represents the com pensation ex pense under our share-based plans and deferred com pensation plans. Includes $7.5 m illion for em ployer tax es related to vested RSUs for the nine m onths ended Septem ber 30, 2026. Nine Months E nded September 30,
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1818 Free Cash Flow Reconciliation (in thousands) 2026 2025 2026 2025 Net cash provided by operating activities 169,142$ 77,667$ 343,496$ 146,272$ L ess: Capital ex penditures (19,547) (8,846) (41,837) (30,241) Free Cash Flow 149,595$ 68,821$ 301,659$ 116,031$ Nine Months E nded September 30,Three Months E nded September 30,
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1919 Net Leverage Reconciliation (in thousands, except multiples) Sep temb er 30, 2026 June 30, 2026 M arch 31, 2026 December 31, 2025 Total debt 1,718,688$ 1,718,137$ 2,652,495$ 2,633,312$ Add: Unam ortized deferred financing costs 14,942 15,523 27,225 28,159 Less: Cash and cash equivalents (493,679) (494,693) (238,918) (250,303) Total net debt 1,239,951$ 1,238,967$ 2,440,802$ 2,411,168$ Net income(1) 221,779 127,969 103,622 45,989 Adjusted EBITDA(2) 772,667 670,198 612,374 571,304 Total debt to net incom e 7.7x 13.4x 25.6x 57.3x Net Lev erage 1.6x 1.8x 4.0x 4.2x (2) Represents Adjusted EBITDA for the trailing twelve-m onth period. Adjusted EBITDA for the trailing twelve-m onth period ended Septem ber 30, 2026, is calculated as Adjusted EBITDA for the year ended Decem ber 31, 2025, less Adjusted EBITDA for the nine m onths ended Septem ber 30, 2025, plus Adjusted EBITDA for the nine m onths ended Septem ber 30, 2026. (1) Represents Net incom e for the trailing twelve-m onth period. Net incom e for the trailing twelve-m onth period ended Septem ber 30, 2026, is calculated as Net income for the year ended December 31, 2025, less Net income (loss) for the nine months ended September 30, 2025, plus Net incom e for the nine m onths ended Septem ber 30, 2026.