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Q2 2026 EARNINGS PRESENTATION August 2026 AMERICAN VANGUARD ™
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CAUTIONARY STATEMENT 2 Safe Harbor Statement The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this presentation the matters set forth in this presentation include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” These forward-looking statements are based on the current expectations and estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include risks detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release. The company disclaims any intent or obligation to update these forward-looking statements. Other Disclaimers In addition to the financial metrics presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this presentation includes the following non-GAAP metrics: Adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA). Adjusted EBITDA is not a financial measure calculated and presented in accordance with U.S. generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), operating income (loss) or any other financial measure so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. The items excluded from adjusted EBITDA are detailed in the reconciliation attached to this presentation. Other companies (including the Company’s competitors) may define adjusted EBITDA differently. We present non-GAAP measures when we believe that the additional information is useful and meaningful to investors. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. We urge you not to rely on any single financial measure to evaluate our business.
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3 Solid First Half Performance – • Outperforming in U.S. markets despite ongoing headwinds • Business plan execution starting to deliver on operating leverage opportunities – more to come • Investing in new product development to drive future growth Self-Help Actions To Benefit 2H’26 - • L.A. rationalization and HQ relocation savings flow into 2H • 1H cost actions will benefit the third and fourth quarters • Pricing actions to catch up with elevated freight costs Controlling What We Can Control – • Executing the strategic business improvement plan, not waiting on the Ag cycle • Customers order on an as-needed basis, deferring purchases month to month • Farmer liquidity keeps distributors reluctant to restock EXECUTIVE SUMMARY – KEY MESSAGES Reaffirming Full-Year Guidance – • Full-year revenue and Adj. EBITDA outlook unchanged • Confidence anchored in cost actions already completed and U.S. market momentum, and opportunities Foundation for Long-Term Value – • Term loan structure in place, net debt reduction over the next two years to position for refinancing • Targeting $600M+ run-rate revenue by 2028 • 50 new product launches over five years, driving $100M in revenue by 2030
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4 Outperforming vs Peers in the U.S. Market Business Plan Delivering Operating Leverage Investment in Innovation KEY TAKEAWAYS
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$14 $17 6% 7% H1 2025 H1 2026 $71 $73 29% 30% H1 2025 H1 2026 $245 $240 H1 2025 H1 2026 5 Revenue Gross Profit Adj. EBITDA Adj. EBITDA Margin (%) Gross Profit Margin (%) Net Sales Maintaining Full-Year Guidance for Revenue & EBITDA Clearly Defined Goals for Growth, Profitability and Debt Reduction • Achieve more than $600 million in annualized run-rate revenue by the back half of 2028. • Move EBITDA margins into the double- digit range as soon as possible. • Launch 50 new products over the next five years. • Generate solid free cash flow and lower net working capital to reduce net debt over the next two years. Net Sales: $530M - $550M Adj. EBITDA: $44M - $48M ESTABLISHING A CLEAR PATH TO GROWTH AND RESETTING THE NARRATIVE Source: Company materials Figures in US$ million, unless otherwise noted. Figures as reported in company annual reports. FY’26E Figures reflect midpoint of current guidance estimates; Gross Profit ex cluded, as it is not included in Company guidance Figures prior to 2024 exclude divestment of Dachtal products $73 $54 $39 $39 $46 12% 9% 7% 8% 9% FY'22 FY'23 FY'24 FY'25 FY'26E $192 $179 $120 $148 32% 31% 22% 29% FY'22 FY'23 FY'24 FY'25 $610 $579 $547 $515 $540 FY'22 FY'23 FY'24 FY'25 FY'26EFY’26E FY’26E FY’26E
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6 Innovation Strengthening the product engine to drive higher-value growth over time New Product Launches 50+ new products over 5 years, driving $100M+ in incremental annualized revenue by 2030 Diversified Revenue Across the Ag Cycle New product program designed to generate revenue across macro and Ag cycles Focused R&D R&D aimed at higher output, lower cost, and customer needs Extended Reach Accelerated product launches and broader international registrations extend each investment PIPELINE TO PERFORMANCE
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7 • Net Sales – Solid 1H’26 U.S. Performance – Strong performance from U.S. Specialty business across first half of year led all segments, with total U.S. business up 6% in 1H’26. Weaker international markets this year held back results in both periods. Weather driven effects from El Niño drove planting delays across Latin America, and input cost inflation affected markets outside U.S. to a greater degree. • 1H’26 Gross Margin Up, Despite Headwinds – GPM’s increased by 100 basis points despite modestly lower overall revenue and higher freight costs across both quarters, which added close to $2 million in unrecovered (yet) costs. This strong performance was offset by slightly weaker overall factory efficiencies. • Manufacturing and Corporate Cost Reduction Actions Will Kick- In Across 2H’26 – Operating expenses of $35.4M down from $36.5M, with SG&A down 7% while R&D investment rose 11%. L.A. rationalization expected to deliver at least $4M annualized savings, with added second - half benefit from the headquarters relocation. • Strengthening Our Balance Sheet Is The Focus – Net debt and net trade working capital rose year over year. Debt growth stemmed from new term loans; working capital growth reflected 2025 customer prepayments, program simplification initiatives, and specific product demand, generating higher net AR by June 2026. We have cut back reliance on supplier financing by 50% and reduced inventories. Our 2027–2028 plan is to pay down debt to position the Company for refinancing the term loans. Metric (in millions) Q2’26 Q2’25 Δ% 1H’26 1H’25 Δ% Net Sales $116.8 $129.3 (10%) $240.3 $245.1 (2%) Gross Profit Margin 30% 31% -100bps 30% 29% 100bps Adj. EBITDA $6.6 $11.0 (39%) $17.0 $14.0 21% Net Debt1 $223.7 $175.0 28% $223.7 $175.0 28% Inv. Turns 1.63x 1.68x (0.05x) 1.63x 1.68x (0.05x) Net Trade Working Capital2 $206.5 $179.5 15.0% $388.2 $332.5 17% KEY FINANCIAL METRICS – YEAR/YEAR CHANGE 1 Net debt is calculated as total outstanding indebtedness less cash 2 Net Trade Working Capital is excluding Cash
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Q2’26 - U.S. Portfolio Resilience Mostly Offsets Global Market Headwinds • U.S. Crop sales declined 9% on cotton portfolio timing shifting into the third quarter as customers buy closer to time of use • U.S. Specialty sales increased 11%, partially offsetting 3% decline in total U.S. sales for the quarter • International sales fell 18% as El Niño-driven dry conditions delayed and suspended planting across Central America. Generic competition pressured Mexico herbicides, and raw material cost-led pricing softened Brazil demand • Soil and insecticide declines were partly offset by continued herbicide and fungicide momentum, with soil fumigants stable 8 Segment (in millions) Q2’26 Q2’25 Δ% 1H’26 1H’25 Δ% U.S. Crop $48.0 $52.7 (9%) $115.2 $110.2 5% U.S. Specialty $21.8 $19.6 11% $38.2 $34.8 10% Total U.S. $69.8 $72.3 (3%) $153.4 $145.0 6% International $46.9 $57.1 (18%) $87.0 $100.1 (13%) Total Net Sales $116.8 $129.3 (10%) $240.3 $245.1 (2%) 1H’26 U.S. Specialty growth of 10% and U.S. Crop growth of 5% offset by 13% international decline REVENUE CONTRIBUTION BREAKDOWN – YEAR/YEAR
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Target Net Leverage Ratio1 Net Leverage Ratio1 4.6x 3.0x Top-Line Growth • New product launches • Focused on Volume Growth Higher Gross Profit Margin • Revenue growth drives GPM expansion • Higher manufacturing utilization Higher Operating Margin • Operating Expenses declining as a % of sales • Overhead efficiency gains Reduce Working Capital • SIOP process optimization • People & Systems Investment 9 Net leverage target ratios are defined as net debt to EBITDA 1 Path to Revenue Growth Target • Focused on Volume Growth, Supported by New Product Launches • Normalization of Order Patterns $600M+ -Annualized Revenue- Double Digit EBITDA Margin Margin and Cost Targets • Gross Profit Margin in low-to-mid 30s • Operating Expenses at ~23% of sales Target 3.0x Net Leverage - Net Debt to EBITDA - Net Working Capital Target & Refinance Objective • Achieve net working capital of approximately 30% of sales • Refinance the First Lien at a Materially Lower Rate by 2028 2028 FINANCIAL TARGETS & PRIORITIES
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10 Outperforming vs Peers in the U.S. Market Business Plan Delivering Operating Leverage Investment in Innovation KEY TAKEAWAYS
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THANK YOU Q&A