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Fourth Quarter and Full Year Earnings February 25, 2026 Astec Industries
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Certain statements contained in this presentation contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, income, earnings, cash flows, changes in operations, operating improvements, businesses in which we operate and the United States and global economies. Statements in the presentation that are not historical are hereby identified as “forward-looking statements” and may be indicated by words or phrases such as “anticipates” , “supports” , “plans” , “projects” , “expects” , “believes” , “should” , “would” , “could” , “hope” , “forecast” , “management is of the opinion” , use of the future tense and similar words or phrases. These forward-looking statements are based largely on management’s expectations, which are subject to a number of known and unknown risks, uncertainties and other factors discussed and described in our most recent Annual Report on Form 10-K, including those risks described in Part I, Item 1A thereof, and in other reports subsequently filed by us with the Securities and Exchange Commission, which may cause actual results, financial or otherwise, to be materially different from those anticipated, expressed or implied by the forward-looking statements. All forward-looking statements included in this document are based on information available to us on the date hereof, and we assume no obligation to update any such forward-looking statements to reflect future events or circumstances, except as required by law. NON-GAAP MEASURES In an effort to provide investors with additional information regarding the Company’s results, the Company refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures which management believes provide useful information to investors. These non-GAAP measures have no standardized meaning prescribed by U.S. GAAP and therefore are unlikely to be comparable to the calculation of similar measures for other companies. Management of the Company does not intend these items to be considered in isolation or as a substitute for the related GAAP measures. Nonetheless, this non-GAAP information can be useful in understanding the Company’s operating results and the performance of its core business. Management of the Company uses both GAAP and non-GAAP financial measures to establish internal budgets and targets and to evaluate the Company’s financial performance against such budgets and targets. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included in the appendix. 2 Safe Harbor
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Fourth Quarter and Full Year Highlights 3 Jaco van der Merwe CEO and President
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Fourth Quarter $400.6M Net sales $44.7M Adjusted EBITDA1 $7.4M Free cash flow1 Record Q4 net sales. Full year net sales up 8.1% Solid Q4 adjusted EBITDA and 25.8% increase in full year adjusted EBITDA generating double digit adjusted EBITDA margin Positive free cash flow driven by continued focus on consistency, profitability and working capital management Infrastructure Solutions — The market remains strong with healthy demand for asphalt and concrete plant deliveries . This was partially offset by challenging markets for forestry and mobile paving equipment although backlog for these products has begun to slightly grow. Materials Solutions — Inorganic growth and the return of organic demand for Astec equipment. Federal infrastructure funding , healthy state and local budgets and construction of data centers are expected to drive multi-year demand Backlog increased 22.5% to $514.1 million as continued demand for asphalt and concrete plants was complimented by inorganic and organic growth for materials processing equipment 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. $1,410.4M Net sales $140.7M Adjusted EBITDA1 $20.7M Free cash flow1 Full Year Highlights Parts sales up 19.7% versus prior year quarter and 11.5% for the for the full year. Parts sales totaled 30.7% of total sales in 2025 2026 Adjusted EBITDA guidance range from $170 million to $190 million
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Over $200 Million of Annual Revenue Acquired CWMF closing dayTSG new branding
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6 State of the U.S. Industry Through November 30, 2025, states have committed $248 billion in highway and bridge formula funds to support over 111,000 new projects. Highway & Street Construction increased 2.3% from last year. $347.5 billion approved by Congress for five years beginning 2022 Infrastructure Solutions Materials Solutions The U.S. transportation construction market is expected to grow nearly three percent to a record $209.1 billion in 2026. Investments in highways, bridges, and street construction supported by IIJA funding and significant state commitments are expected to drive 2026 demand. Construction activity for Data Centers and infrastructure necessary to support them expected to be robust. CAGR of 3.41% anticipated for the U.S Aggregates Market through 2033. Sources: ARTBA.org, ARTBA 2026 Market Outlook, marketdataforecast.com
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Implied orders are calculated by taking current period backlog minus prior period backlog plus current period sales Q4 25 Implied Orders $303 $312 $308 $419 $465 84% 95% 93% 120% 116% 0 50 100 150 200 250 300 350 400 450 500 0% 20% 40% 60% 80% 100% 120% 140% 4Q24 1Q25 2Q25 3Q25 4Q25 Implied Orders ($M) INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONSCONSOLIDATED +11.0% Q/Q Book to Bill Ratio $203 $207 $183 $197 $258 82% 88% 90% 102% 115% 0 50 100 150 200 250 300 0% 20% 40% 60% 80% 100% 120% 140% 4Q24 1Q25 2Q25 3Q25 4Q25 Implied Orders ($M) +31.0% Q/Q Book to Bill Ratio $100 $106 $125 $222 $207 90% 113% 99% 141% 117% 0 50 100 150 200 250 0% 20% 40% 60% 80% 100% 120% 140% 160% 4Q24 1Q25 2Q25 3Q25 4Q25 Implied Orders ($M) -6.8% Q/Q Book to Bill Ratio Orders prior to Q3 25 exclude the impacts of the Terra Source acquisition Book to Bill Ratio is Implied Orders for the period divided by Sales
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Historical Backlog $306 $276 $256 $260 $294 4Q24 1Q25 2Q25 3Q25 4Q25 $420 $403 $381 $450 $514 4Q24 1Q25 2Q25 3Q25 4Q25 Backlog ($M) Backlog ($M) Backlog ($M) INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONSCONSOLIDATED $114 $126 $125 $190 $220 4Q24 1Q25 2Q25 3Q25 4Q25 Backlog prior to Q3 25 exclude the impacts of the Terra Source acquisition
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Fourth Quarter and Full Year Financial Results 9 Brian Harris Chief Financial Officer
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13.3% 11.2% 8.6% 10.0% 4Q 2024 4Q 2025 2024 2025 NET SALES ADJ. EBITDA1 ADJ. EBITDA MARGIN1 ADJ. EPS1 ($M, except per share and percentage data) $359.0 $400.6 $1,305.1 $1,410.4 4Q 2024 4Q 2025 2024 2025 +11.6% $47.9 $44.7 $111.8 $140.7 4Q 2024 4Q 2025 2024 2025 (-6.7%) 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. +8.1% +25.8% $1.22 $1.06 $2.59 $3.33 4Q 2024 4Q 2025 2024 2025 (-13.1%) +28.6% -210 bps 4Q25 Financial Results +140 bps
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21.3% 15.8% 14.5% 15.7% 4Q 2024 4Q 2025 2024 2025 NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN $248.8 $223.6 $837.4 $857.4 4Q 2024 4Q 2025 2024 2025 $53.1 $35.3 $121.5 $134.3 4Q 2024 4Q 2025 2024 2025 -10.1% -33.5% 4Q25 Financial Performance ($M, except percentage data) -550 bps +10.5% +120 bps +2.4% Infrastructure Solutions
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6.5% 11.8% 8.0% 10.1% 4Q 2024 4Q 2025 2024 2025 NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN $110.2 $177.0 $467.7 $553.0 4Q 2024 4Q 2025 2024 2025 $7.2 $20.8 $37.2 $55.6 4Q 2024 4Q 2025 2024 2025 +60.6% +188.9% +530 bps +18.2% +49.5% +210 bps Materials Solutions 4Q25 Financial Performance ($M, except percentage data)
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Maintain Strong, Flexible Balance Sheet with Ample Liquidity ($M) 12/31/25 Cash and Cash Equivalents $70.0 Available Credit $244.7 T otal Available Liquidity $314.7 Net Debt/Adjusted EBITDA within target range of 1.5x to 2.5x COMMENTARY • Operating activities were a $36.1M source of cash for Q4 2025 • Available credit from a $250M revolving credit facility • In compliance with all covenants • Net Debt/Adjusted EBITDA ~ 2.0x LIQUIDITYTOTAL LIQUIDITY ($M) 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. $228 $239 $248 $312 $315 4Q24 1Q25 2Q25 3Q25 4Q25
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Double Barrel 2.0 Phoenix Talon Burner CWMF Honey Badger Peterson 3710E Frontier SF-20 A60 Jaw Crusher Apex Centrifuge Signal (Digital platform) Con-E-Co 327 XR Experience CONEXPO-CON/AGG - New Products, Advanced Technology March 3-7, 2026 | Las Vegas Convention Center | Booth #C30236 and #SV2322
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Trusted source — High-quality solutions and strong global brand recognition Favorable Customer Sentiment — Cautious optimism expressed at recent World of Concrete and National Asphalt Pavement Association trade shows. Strong attendance at both a positive Growth Drivers — • New Products: Excitement and momentum in our innovation pipeline • Recurring Parts Revenue: Growing aftermarket parts business consistently represents 27% to 33% of total revenue • Stable Funding: Encouraged by increased federal and state highway funding • International: Expansion opportunities in current and future markets • Inorganic Growth: Demonstrated process, discipline and focus on strategic acquisitions Investment Highlights Operational Excellence — Manufacturing investments and procurement efforts driving efficiencies
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QUESTIONS AND ANSWERS Steve Anderson SVP of Administration & Investor Relations Phone: 423-553-5934 Email: sanderson@astecindustries.com
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Appendix 17
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GAAP vs Non-GAAP Adjusted EPS Reconciliations (in millions, except per share amounts; unaudited)
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EBITDA and Adjusted EBITDA Reconciliations (in millions, except percentage data; unaudited)
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Free Cash Flow Reconciliations (in millions, except percentage data; unaudited)