Slides
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Third Quarter Earnings November 5, 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, forecasted financial performance, economic, business and industry outlook, infrastructure spending, operating improvements, 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. The Company also provided detailed explanations and reconciliations of these non- GAAP measures in the Company's earnings release included in its Fork 8-K filed with the Securities and Exchange Commission on November 5, 2026. Safe Harbor 2
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Third Quarter Highlights 3 Jaco van der Merwe CEO and President
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Third Quarter $352.4M Net sales $18.9M Adjusted EBITDA1 5.4% Adjusted EBITDA Margin1 Q3 Net sales of $352.4M increased 0.7% Positive free cash flow driven by sound working capital management Infrastructure Solutions — Overall, the market remains resilient with solid demand for asphalt and concrete equipment despite the delayed renewal of the federal highway bill. Select asphalt plant orders shifted to Q4’26 and Q1’27 deliveries and inflation impacted margins. Materials Solutions — Steady demand for aggregate crushing and screening equipment and aftermarket parts and service. Macroeconomic headwinds and inflation impacted margins and the timing of anticipated benefits of the TSG business acquired in July 2025. Infrastructure spending and construction of data centers are expected to drive multi-year demand for aggregates. Healthy demand evidenced by Backlog increase of 49.2% to $670.5 million with solid contributions by both segments 1 See appendix for the reconciliation of GAAP to Non-GAAP measures $1,557.4M Net sales $136.6M Adjusted EBITDA1 TTM2 Highlights Parts and Service sales of $125.8 million increased 0.3%. As a percentage of net sales Parts and Service reached 35.7% and 35.2% for the quarter and YTD, respectively Full Year 2026 Adjusted EBITDA Guidance Range $140 Million to $150 Million 2 TTM is trailing twelve months as of 9/30/26 Quarterly comparisons are versus same period prior year Adjusted EBITDA of $18.9M decreased 30.3% , adjusted EBITDA margin of 5.4% primarily due to a pause in asphalt plant orders earlier in the year and inflation in materials, labor and overhead impacted margins. 4 8.8% Adjusted EBITDA Margin1
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Current State of the Market Profitable Strategic alignment of profitability and capital Key Factors Impact Diesel Fuel Prices Per Gallon 2026 Monthly Liquid Asphalt Cement Prices Global Mill Hot Rolled Coil (HRC) 2025 2026 Jan March June Sept 20 40 60 80 100 2024 2025 2026 Health of U.S. Economy (S&P 500 +15% yoy, DJIA + 11% yoy) Inflation Inflation: See Charts Federal Highway Bill renewal Public Work Private Work Residential Data Centers Industrial Megaprojects = Positive = Mixed = Negative
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Federal Highway Bill Renewal and State D.O.T. Funding 6State D.O. T. Budget Authority Remains at Healthy Levels • Expired September 30, 2026 • Continuing Resolution extendedthe current Bill through December 11, 2026 o Reduced short-term uncertainty o Gave lawmakers time to address long-term reauthorization or extend into 2027 Source: American Road & Transportation Builders Association – Transportation Builder July -August 2026 State DOT New Budget Authority $0 $50 $100 $150 $200 $250 Billions of Dollars $134.1 FY 2017 $142.8 FY 2018 $146.3 FY 2019 $158.4 FY 2020 $162.5 FY 2021 $173.2 FY 2022 $194.1 FY 2023 $217.6 FY 2024 $212.0 FY 2025 $224.5 FY 2026 $221.3 FY 2027 (Prelim.) $78 .2 $82 .4 $86 .1 $95 .0 $94 .8 $10 2.9 $11 7.1 $13 2.7 $12 7.0 $13 7.2 $13 5.1 Total New DOT Budget Authority New Highway and Bridge Capital Budget Authority
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Implied orders are calculated by taking current period backlog minus prior period backlog plus current period sales 3Q 26 Implied Orders Book to Bill Ratio is Implied Orders for the period divided by Sales $419 $465 $431 $460 $422 120% 116% 109% 113% 120% 390 400 410 420 430 440 450 460 470 102% 104% 106% 108% 110% 112% 114% 116% 118% 120% 122% 3Q25 4Q25 1Q26 2Q26 3Q26 Implied Orders ($M) INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONSCONSOLIDATED -8.3% Q/Q Book to Bill Ratio $197 $258 $255 $204 $282 102% 115% 108% 90% 149% 0 50 100 150 200 250 300 0% 20% 40% 60% 80% 100% 120% 140% 160% 3Q25 4Q25 1Q26 2Q26 3Q26 Implied Orders ($M) +38.2% Q/Q Book to Bill Ratio $222 $207 $176 $256 $140 141% 117% 110% 142% 86% 0 50 100 150 200 250 300 0% 20% 40% 60% 80% 100% 120% 140% 160% 3Q25 4Q25 1Q26 2Q26 3Q26 Implied Orders ($M) -45.3% Q/Q Book to Bill Ratio Orders prior to Q1 26 exclude impacts from the CWMF acquisition 7
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Historical Backlog Backlog prior to Q1 26 exclude impacts from the CWMF acquisition $260 $294 $313 $289 $382 3Q25 4Q25 1Q26 2Q26 3Q26 $450 $514 $549 $601 $671 3Q25 4Q25 1Q26 2Q26 3Q26 Backlog ($M) Backlog ($M) Backlog ($M) INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONSCONSOLIDATED $190 $220 $236 $312 $289 3Q25 4Q25 1Q26 2Q26 3Q26 8
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Third Quarter Financial Results Brian Harris Chief Financial Officer 9
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7.7% 5.4% 10.5% 8.8% 3Q 2025 3Q 2026 TTM 2025 TTM 2026 NET SALES ADJ. EBITDA1 ADJ. EBITDA MARGIN1 ADJ. EPS1 ($M, except per share and percentage data) $350.1 $352.4 $1,368.8 $1,557.4 3Q 2025 3Q 2026 TTM 2025 TTM 2026 +0.7% $27.1 $18.9 $144.0 $136.6 3Q 2025 3Q 2026 TTM 2025 TTM 2026 (-30.3%) 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. +13.8% (-5.1%) $0.47 -$0.01 $3.50 $2.53 3Q 2025 3Q 2026 TTM 2025 TTM 2026 (-102.1%) (-27.7%) (-230 bps) 3Q26 Financial Results (-170 bps) TTM is trailing twelve months as of 9/30 for each respective year 10
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12.4% 8.1% 17.2% 13.5% 3Q 2025 3Q 2026 TTM 2025 TTM 2026 NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN $193.2 $189.0 $882.6 $877.9 3Q 2025 3Q 2026 TTM 2025 TTM 2026 $23.9 $15.3 $152.1 $118.5 3Q 2025 3Q 2026 TTM 2025 TTM 2026 (-2.2%) (-36.0%) 3Q26 Financial Performance ($M, except percentage data) (-430 bps) (-22.1%) (-370 bps) (-0.5%) Infrastructure Solutions TTM is trailing twelve months as of 9/30 for each respective year 11
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9.8% 8.5% 8.7% 9.6% 3Q 2025 3Q 2026 TTM 2025 TTM 2026 NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN $156.9 $163.4 $486.2 $679.5 3Q 2025 3Q 2026 TTM 2025 TTM 2026 $15.4 $13.9 $42.1 $65.5 3Q 2025 3Q 2026 TTM 2025 TTM 2026 +4.1% (-9.7%) 0 bps +39.8% +55.6% +90 bps Materials Solutions 3Q26 Financial Performance ($M, except percentage data) TTM is trailing twelve months as of 9/30 for each respective year (-130 bps) 12
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Maintain Strong, Flexible Balance Sheet with Ample Liquidity ($M) 9/30/26 Cash and Cash Equivalents $63.2 Available Credit $204.0 T otal Available Liquidity $267.2 Net Debt/Adjusted EBITDA within target range of 1.5x to 2.5x COMMENTARY • Operating activities were a $17.4M source of cash for Q3 2026 • $250M revolving credit facility • In compliance with all covenants • Net Debt/TTM Adjusted EBITDA1 ~ 2.3x LIQUIDITYTOTAL LIQUIDITY ($M) 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. $312 $315 $268 $266 $267 3Q25 4Q25 1Q26 2Q26 3Q26 TTM is trailing twelve months as of 9/30/26 13
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Trusted source — High-quality solutions and strong global brand recognition Strong Backlog – Year-over-year increase of $221.0 million, or 49.2% driven by increases in both the Infrastructure Solutions and Materials Solutions segments Path to 2030 Growth Drivers— • New Products: Excitement and momentum in our innovation pipeline • Recurring Parts and Service Revenue: Growing aftermarket parts business consistently represents 33% to 35% of total revenue. • History of Stable Funding : Encouraged by increased federal and state highway funding • Digital: Unified connectivity suites provide valuable customer solutions • Industry Megatrends: Data centers, reindustrialization, rare earth minerals, etc. • Strong Balance Sheet o Inorganic Growth: Demonstrated process, discipline and focus on strategic acquisitions o International: Expansion opportunities in current and future markets Investment Highlights 14
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QUESTIONS AND ANSWERS Steve Anderson SVP of Administration & Investor Relations Phone: 423-553-5934 Email: sanderson@astecindustries.com 15
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Appendix 16
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GAAP vs Non-GAAP Adjusted EPS Reconciliations (in millions, except per share amounts; unaudited) 17
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EBITDA and Adjusted EBITDA Reconciliations (in millions, except percentage data; unaudited) 18
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Free Cash Flow Reconciliations (in millions, except percentage data; unaudited) 19