Slides
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Investor Presentation Brady Corporation November 2025
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Forward-Looking Statements In this news release, statements that are not reported financial results or other historic information are “forward-looking statements.” These forward-looking statements relate to, among other things, the Company's future financial position, business strategy, targets, projected sales, costs, income, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations. The use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “plan” or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions, and other factors, some of which are beyond Brady’s control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For Brady, uncertainties arise from: increased cost of materials, labor, material shortages and supply chain disruptions, including as a result of tariffs or other impacts of the global trade environment; decreased demand for our products; our ability to compete effectively or to successfully execute our strategy; our ability to develop technologically advanced products that meet customer demands; Brady’s ability to identify, integrate, and grow acquired companies, and to manage contingent liabilities from divested businesses; difficulties in protecting our websites, networks and systems against security breaches; extensive regulations by U.S. and non-U.S. governmental and self- regulatory entities; risks associated with the loss of key employees; litigation, including product liability claims; global climate change and environmental regulations; foreign currency fluctuations; changes in tax legislation and tax rates; potential write- offs of goodwill and other intangible assets; differing interests of voting and non-voting shareholders and changes in the regulatory and business environment around dual-class voting structures; numerous other matters of national, regional and global scale, including major public health crises and government responses thereto and those of a political, economic, business, competitive, and regulatory nature contained from time to time in Brady’s U.S. Securities and Exchange Commission filings, including, but not limited to, those factors listed in the “Risk Factors” section within Item 1A of Part I of Brady’s Form 10-K for the year ended July 31, 2025. These uncertainties may cause Brady's actual future results to be materially different than those expressed in its forward- looking statements. Brady does not undertake to update its forward-looking statements except as required by law. 2
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Overview Leader in niche safety, identification, and compliance markets. Diversified customer base, products, and geographic footprint. 3 Global Leader with Innovative Solutions Focused on innovation , automation, digital, and geographic expansion. Expanding in faster-growing end markets with secular tailwinds. History of sustainable efficiency gains . Long-Term Sustainable Results History of strong and improving cash generation. Net cash position as of July 31, 2025. Strong Cash Generation Organic investments throughout the economic cycle. 40 consecutive years of annual dividend increases. Technology -based acquisitions that fit our strategies. Returned $96.4M to our shareholders in the form of dividends and share buybacks in F’25. Disciplined Capital Allocation Record EPS in F’25 – Adjusted EPS of $4.60 was up 9.0% over the prior year. 5th consecutive year of record Adjusted EPS results. Record Earnings per Share
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Brady’s Comprehensive Identification Solutions 4 Benchtop Systems Portable Systems Inkjet Systems High-performance materials Pre-printed offering RFID readers Optical scanners Gravotech, Mecco, Code and Nordic ID acquisitions enhance Brady’s core product offering. Direct part marking
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Brady’s Regional Divisions Overview : • 66% of total revenue. • 60% sold through distribution / 40% sold direct through field sales, internet, telesales and catalog. Primary Brands : • Brady, PDC, Code, Magicard, Gravotech, Mecco, Seton, and Emed. 5 Europe & Australia: Americas & Asia: Overview : • 34% of total revenue. • 40% sold through distribution / 60% sold direct through field sales, internet, telesales and catalog. Primary Brands : • Brady, Seton, Signals, Securimed, Gravotech and Magicard. Safety & Facility ID Wire Identification Product ID Healthcare ID People Identification
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AustraliaEurope, Middle East & AfricaChina Geographic Presence 6 Asia (excl. China) 52% 6% 5% 3% 30% 4% Rest of AmericasU.S.A. F’25 Sales by Geography (90 facilities in 35 countries) Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Italy, Netherlands, Norway, Poland, Qatar, Saudi Arabia, Slovakia, South Africa, Spain, Sweden, Switzerland, Turkey, UAE, U.K. Brazil, Canada, Mexico. India, Japan, Malaysia, Philippines, South Korea, Singapore, Thailand, Vietnam.
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Summary Focused on organic sales growth: • Innovation, automation, digital and geographic expansion. • Organic sales growth of 2.6% in F’25. Driving strong profit improvements and returning funds to our shareholders: • Record Adjusted EPS in F’25 with 9.0% growth over F’24. • Executing sustainable process improvements. • Returned $96.4M to our shareholders in F’25 through dividends and share buybacks. Ongoing investments in future growth and strong balance sheet positions us well: • Our on-going growth investments, strong balance sheet, and our focus on execution position us well for the future. 7
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Financial Overview
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Revenues 9 Revenues: Organic growth of 2.6% in F’25. Technology -focused acquisitions added 10.5% revenue growth in F’25; divestiture of a non-core business reduced sales by 0.3%. Annual Trends (Millions of USD) $1,121 $1,113 $1,174 $1,161 $1,081 $1,145 $1,302 $1,332 $1,341 $1,514 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 F'16 (0.7%) (3.7%) -- % F'17 0.5% (1.2%) -- % F'18 2.6% 3.0% (0.2%) F'19 2.8% (2.6%) (0.5%) F'20 (5.4%) (1.4%) -- % F'21 1.6% 3.2% 1.1% F'22 9.4% (2.6%) 6.9% F'23 5.5% (3.0%) (0.2%) F'24 2.6% 0.2% (2.1%) F'25 2.6% -- % 10.2% Organic Growth For. Currency Acquisitions (Divestitures)
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Gross Profit Margins 10 Gross Profit Margin: Focus on sustainable operational improvements and automation throughout our businesses. History of gross profit margins approximating 50%. Annual Trends (Millions of USD) $559 $558 $588 $579 $529 $561 $632 $657 $688 $761 49.9% 50.1% 50.1% 49.9% 48.9% 49.0% 48.5% 49.4% 51.3% 50.3% 0% 10% 20% 30% 40% 50% $400 $500 $600 $700 $800 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25
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Research & Development 11 R&D Expense: Increased investment in R&D to drive future organic sales growth. Continued development of an innovative new product pipeline. Acquired companies with significant R&D investments, continuing and expanding upon new product development pipelines. Annual Trends (Millions of USD) $36 $40 $45 $45 $41 $45 $59 $61 $68 $80 3.2% 3.6% 3.9% 3.9% 3.8% 3.9% 4.5% 4.6% 5.1% 5.3% 1.0% 2.0% 3.0% 4.0% 5.0% $20 $30 $40 $50 $60 $70 $80 $90 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25
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SG&A Expenses 12 SG&A Expense: Investing in sales and marketing activities to drive future organic sales growth. Increase in SG&A in F’25 primarily due to incremental amortization and SG&A from acquisitions. Annual Trends (Millions of USD) $405 $388 $390 $371 $336 $350 $380 $371 $377 $444 36.1% 34.8% 33.3% 32.0% 31.1% 30.6% 29.2% 27.8% 28.1% 29.4% 15% 20% 25% 30% 35% $300 $350 $400 $450 $500 $550 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25
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Income Before Income Taxes 13 Income Before Income Taxes: History of strong year -over-year pre-tax earnings growth both pre and post-pandemic. Decrease in income before income taxes in F’25 due to incremental amortization of $9.5M, facility closure and other reorganization costs of $18.5M and acquisition-related costs of $5.1M. Annual Trends (Millions of USD) $109 $127 $152 $165 $141 $171 $192 $226 $248 $237 $75 $100 $125 $150 $175 $200 $225 $250 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25 19.1% 15.8% 20.0% 8.3% (14.4%) 21.3% 12.3% 17.6% 9.8% (4.3%) Yr on Yr Growth (Decline)
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Adjusted Diluted EPS* 14 Diluted EPS: History of strong year -over-year EPS growth both pre and post-pandemic. F’25 GAAP EPS impacted by increased amortization from acquisitions as well as facility closure and other reorganization costs. Adjusted GAAP EPS was $4.60 in F’25 and $4.22 in F’24. Annual Trends (Millions of USD) $1.58 $1.84 $2.04 $2.46 $2.11 $2.75 $3.15 $3.64 $4.22 $4.60 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 F'16 F'17 F'18 ** F'19 F'20 F'21 F'22 F'23 F'24 F'25 24.4% 16.5% 10.9% 20.6% (14.2%) 30.3% 14.5% 15.6% 15.9% 9.0%Yr on Yr Growth (Decline) * Adjusted Diluted EPS is a non-GAAP measure. Refer to appendix for reconciliation. ** F’18 diluted EPS excludes an income tax charge of $0.40 resulting from the U.S. Tax Cuts and Jobs Act and a gain of $0.09 from the sale of a business.
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Cash Generation 15 Cash Generation: History of strong cash generation. Improved earnings and reduced inventory purchases led to the significant increase in cash flow from operating activities in F’23 and F’24. $139 $144 $143 $162 $141 $206 $118 $209 $255 $181 $50 $100 $150 $200 $250 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25 Cash from Op. Activities – Annual Trends (Millions of USD)
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Net Cash (millions of USD) 16 Strong Balance Sheet: July 31, 2025 cash = $174.3M and debt = $99.8M. In a net cash position following acquisitions totaling $144.5M in F’25. Balance sheet provides flexibility for future organic and inorganic investments. $91 $64 $26 $19 $15 $31 $84 $102 $123 $96 $97 $159 $29 $51 $49 $75 $- $50 $100 $150 $200 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25
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Americas & Asia 17 $218 $220 $223 $227 $222 $212 $225 $228 $245 $234 $254 $261 19% 18% 22% 22% 23% 21% 22% 23% 22% 20% 23% 20% 0% 5% 10% 15% 20% 25% $100 $150 $200 $250 $300 Q1 F'23 4.0% (1.4%) - Q2 F'23 6.9% (1.0%) - Q3 F'23 1.2% (0.8%) (0.3%) Q4 F'23 5.6% (0.2%) (1.0%) Q1 F'24 3.3% - (1.9%) Q2 F'24 1.2% 0.1% (5.1%) Q3 F'24 4.5% (0.1%) (3.5%) Q4 F'24 3.4% (0.8%) (2.2%) Q1 F'25 5.1% (0.2%) 5.8% Q2 F'25 4.3% (1.4%) 7.6% Q3 F'25 5.4% (1.1%) 8.6% Q4 F'25 4.3% - 9.8% SALES & SEGMENT PROFIT % (millions of USD) Organic Cur. Trans. Acq. / (Divest.) F’25 vs. F’24 (millions of USD) F’25 F’24 Change Sales $ 993.7 $ 886.5 12.1% Segment Profit 209.8 196.8 + 6.6% Segment Profit % 21.1% 22.2% (110) bps $861 $889 $887 $994 18% 20% 22% 21% 12% 14% 16% 18% 20% 22% $200 $450 $700 $950 $1,200 F'22 10.3% (0.1%) 6.9% F'23 4.4% (0.9%) (0.3%) F'24 3.1% (0.2%) (3.2%) F'25 4.8% (0.6%) 7.9% Organic Cur. Trans. Acq. / (Divest.) SALES & SEGMENT PROFIT % (millions of USD)
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Europe & Australia 18 F’25 vs. F’24 (millions of USD) $104 $106 $114 $118 $110 $111 $119 $115 $132 $123 $129 $136 16% 13% 15% 16% 15% 14% 16% 17% 10% 9% 14% 11% 0% 5% 10% 15% $50 $100 $150 $200 $250 Q1 F'23 12.8% (17.0%) - Q2 F'23 5.2% (8.9%) - Q3 F'23 3.4% (4.8%) - Q4 F'23 9.5% 2.0% - Q1 F'24 1.4% 4.6% - Q2 F'24 2.5% 2.0% - Q3 F'24 4.4% (0.6%) - Q4 F'24 (1.8%) (1.2%) - Q1 F'25 0.7% 3.6% 15.0% Q2 F'25 (0.8%) (3.6%) 15.1% Q3 F'25 (5.4%) (0.1%) 14.2% Q4 F'25 (1.3%) 5.7% 14.4% SALES & SEGMENT PROFIT % (millions of USD) F’25 F’24 Change Sales $ 519.9 $ 454.9 14.3% Segment Profit 56.9 70.6 (19.4%) Segment Profit % 11.0% 15.5% (450) bps Organic Cur. Trans. Acquisitions $441 $443 $455 $520 14% 15% 16% 11% 2% 4% 6% 8% 10% 12% 14% 16% $200 $250 $300 $350 $400 $450 $500 $550 F'22 7.9% (7.0%) 6.9% F'23 7.6% (7.1%) - F'24 1.6% 1.1% - F'25 (1.8%) 1.4% 14.7% Organic Cur. Trans. Acquisitions SALES & SEGMENT PROFIT % (millions of USD)
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Summary We are f inancially strong. Accelerated organic sales growth. Improved profitability. Returning funds to our shareholders. Enhanced new product pipeline, positive sales momentum, strategic acquisitions, organic growth investments, a strong balance sheet, and a focus on execution puts Brady in an excellent position for the future. 19
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Appendix Q4 F’25 Financial Review
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Q4 F’25 Highlights 21 * Adjusted Diluted EPS is a non-GAAP measure. See appendix. Organic sales growth of 2.4%. Total sales growth of 15.7% including acquisitions and Fx. Sales Growth GAAP EPS of $1.04 in Q4 F’25 vs. $1.15 in Q4 F’24. Adjusted Diluted EPS* increased 5.9% to $1.26 in Q4 F’25 from $1.19 in Q4 F’24. Record High Adjusted Diluted EPS* Americas & Asia organic sales growth of 4.3%. Europe & Australia organic sales decline of 1.3%. Regional Sales Results Purchased 733,360 shares in F’25 for $50.9M. Paid dividends of $45.5M and announced our 40 th consecutive year of dividend increases. Returned $96.4M to our Shareholders F’26 GAAP EPS guidance of $4.55 - $4.85 (increase of 15.5% to 23.1% vs. F’25). F’26 Adjusted Diluted EPS* guidance of $4.85 - $5.15 (increase of 5.4% to 12.0% vs. F’25). F’26 EPS Guidance GAAP EPS was $3.94 in F’25 vs. $4.07 in F’24. Adjusted Diluted EPS* was up 9.0% from $4.22 to an all-time high of $4.60. Record High Adjusted Diluted EPS* Full-Year F’25 Highlights
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Sales Overview 22 Q4 F’25 SALES: Total sales increased 15.7%. Organic sales increased 2.4%. • Americas & Asia – Organic sales increased 4.3%. • Europe & Australia – Organic sales declined 1.3%. Foreign currency translation increased sales 2.0%. Acquisitions increased sales 11.3%. $321 $318 $339 $324 $323 $326 $337 $346 $332 $323 $343 $343 $377 $357 $383 $397 $225 $250 $275 $300 $325 $350 $375 $400 $425 Q1 F'22 7.0% Q2 F'22 13.1% Q3 F'22 9.0% Q4 F'22 9.0% Q1 F'23 6.9% Q2 F'23 6.3% Q3 F'23 1.9% Q4 F'23 6.9% Q1 F'24 2.7% Q2 F'24 1.6% Q3 F'24 4.5% Q4 F'24 1.6% Q1 F'25 3.6% Q2 F'25 2.6% Q3 F'25 1.6% Q4 F'25 2.4%Organic Growth SALES (millions of USD) Q4 F’25 SALES COMMENTARY: Organic sales grew 3.3% in the Americas with growth in most major product lines. Asia organic sales grew 12.0% with growth throughout the region except for China. Organic sales declined 0.8% in Europe and declined 5.1% in Australia.
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Gross Profit Margin 23 $155 $149 $164 $163 $155 $156 $170 $176 $172 $162 $177 $177 $190 $176 $195 $20048.2% 47.0% 48.4% 50.4% 48.1% 48.0% 50.3% 50.8% 51.7% 50.2% 51.6% 51.6% 50.3% 49.3% 51.0% 50.4% 40% 42% 44% 46% 48% 50% 52% $100 $125 $150 $175 $200 $225 $250 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 GROSS PROFIT & GPM% (millions of USD) Q4 F’25 – GROSS PROFIT MARGIN: Gross profit margin of 50.4% compared to 51.6% in Q4 of F’24. The impact of facility closures and other reorganization costs reduced gross profit margin by approximately 50 basis points i n Q4 of F’25.
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SG&A Expense 24 Q4 F’25 – SG&A EXPENSE: SG&A expense increased as a percent of sales when compared to Q4 last year due to increased amortization and facility closure and other reorganization costs. Amortization expense was $4.8M in Q4 of F’25 and $2.3M in Q4 of F’24, and facility closure and other reorganization costs were $6.8M in Q4 of F’25. $97 $93 $96 $95 $90 $92 $91 $97 $96 $91 $96 $93 $112 $106 $109 $118 30.1% 29.1% 28.4% 29.2% 27.9% 28.3% 27.0% 28.2% 29.0% 28.3% 27.9% 27.2% 29.7% 29.7% 28.4% 29.7% 22% 24% 26% 28% 30% 32% $75 $90 $105 $120 $135 $150 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 SG&A EXPENSE AND SG&A EXPENSE AS A % OF SALES (millions of USD)
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R&D Expense 25 Q4 F’25 – R&D EXPENSE: Investments in R&D continue to drive long -term organic sales growth; F’25 acquisitions have a higher level of R&D as a percentage of sales. $13.9 $14.0 $14.9 $15.8 $13.9 $15.4 $15.7 $16.3 $15.7 $16.8 $17.7 $17.5 $18.9 $18.7 $19.2 $23.1 4.3% 4.4% 4.4% 4.9% 4.3% 4.7% 4.7% 4.7% 4.7% 5.2% 5.1% 5.1% 5.0% 5.2% 5.0% 5.8% 2.0% 3.0% 4.0% 5.0% 6.0% $10.0 $14.0 $18.0 $22.0 $26.0 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 R&D EXPENSE AND R&D EXPENSE AS A % OF SALES (millions of USD)
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Income Before Income Taxes 26 $44.7 $42.0 $51.3 $54.0 $50.3 $48.5 $63.0 $63.8 $59.4 $55.8 $64.4 $68.2 $58.8 $52.0 $65.7 $60.5 $10 $20 $30 $40 $50 $60 $70 Q1 F'22 5.8% Q2 F'22 6.7% Q3 F'22 7.3% Q4 F'22 29.7% Q1 F'23 12.6% Q2 F'23 15.4% Q3 F'23 23.0% Q4 F'23 18.2% Q1 F'24 18.0% Q2 F'24 15.1% Q3 F'24 2.2% Q4 F'24 6.9% Q1 F'25 (1.0%) Q2 F'25 (6.8%) Q3 F'25 2.1% Q4 F'25 (11.3%) * Adjusted Income Before Income Taxes is a non-GAAP measure. See appendix. (millions of USD)INCOME BEFORE INCOME TAXES (GAAP) Q4 F’25 – INCOME BEFORE INCOME TAXES: GAAP Income before income taxes decreased 11.3% to $60.5M in Q4 of F’25 compared to $68.2M in Q4 of F’24. Adjusted Income Before Income Taxes* increased 5.1% to $74.2M in Q4 of F’25 compared to $70.5M in Q4 of F’24. Year-on-Year Growth (Decline)
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Net Income & Diluted EPS 27 Q4 F’25 – NET INCOME & DILUTED EPS: GAAP Net Income was $49.9M in Q4 of F’25 compared to $55.5M in Q4 of F’24. • Adjusted Net Income* was $60.2M in Q4 of F’25 compared to $57.3M in Q4 of F’24 (increased 5.1%). GAAP Diluted EPS was $1.04 in Q4 of F’25 compared to $1.15 in Q4 of F’24. • Adjusted Diluted EPS* was $1.26 in Q4 of F’25 compared to $1.19 in Q4 of F’24 (increased 5.9%). * Adjusted Net Income and Adjusted Diluted EPS are non-GAAP measures. See appendix. $35.0 $33.8 $40.1 $41.1 $39.4 $38.0 $48.1 $49.4 $47.2 $43.6 $50.9 $55.5 $46.8 $40.3 $52.3 $49.9 $20 $30 $40 $50 $60 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 NET INCOME (GAAP) (millions of USD) $0.67 $0.65 $0.78 $0.81 $0.79 $0.76 $0.96 $1.00 $0.97 $0.90 $1.05 $1.15 $0.97 $0.83 $1.09 $1.04 $0.40 $0.60 $0.80 $1.00 $1.20 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 DILUTED EPS (GAAP)
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Cash Generation 28 CASH FLOW FROM OPERATING ACTIVITIES $27.5 ($3.2) $40.9 $53.2 $28.0 $29.4 $72.5 $79.3 $62.3 $36.1 $72.7 $84.0 $23.4 $39.6 $59.9 $58.3 -$5 $20 $45 $70 $95 Q1 F'22 78% Q2 F'22 (9%) Q3 F'22 102% Q4 F'22 130% Q1 F'23 71% Q2 F'23 77% Q3 F'23 151% Q4 F'23 161% Q1 F'24 132% Q2 F'24 83% Q3 F'24 143% Q4 F'24 151% Q1 F'25 50% Q2 F'25 98% Q3 F'25 115% Q4 F'25 117%% of Net Income CASH FLOWS IN Q4 OF F’25: Overview: Cash flow from operating activities was $58.3M in Q4 of F’25 vs. $84.0M in Q4 of F’24. Free cash flow* was $49.4M in Q4 of F’25 compared to $73.2M in Q4 of F’24. Returning Funds to our Shareholders: In F’25, we returned a total of $96.4M to our shareholders in the form of dividends and share buybacks. Dividends – Increased our annual dividend for the 40th consecutive year. Share Buybacks – Repurchased 733k shares in F’25 for $50.9M (average price of $69.32/share). * Free cash flow is calculated as Net Cash Provided by Operating Activities less Capital Expenditures. (millions of USD) (millions of USD) 3 Mos. Ended Jul. 31, 2025 3 Mos. Ended Jul. 31, 2024 12 Mos. Ended Jul. 31, 2025 12 Mos. Ended Jul. 31, 2024 Cash Balance - Beginning of Period 152.2$ 160.5$ 250.1$ 151.5$ Cash Flow from Operating Activities 58.3 84.0 181.2 255.1 Capital Expenditures (8.9) (10.7) (27.6) (79.9) Dividends (11.3) (11.2) (45.5) (45.1) Share Repurchases (17.6) - (50.9) (72.2) Business Acquisitions - - (144.5) - Net Debt (Repayments) Borrowings (3.1) 27.2 8.8 41.2 Effect of Exchange Rates on Cash 1.8 (2.1) (1.8) (4.9) Other 2.9 2.4 4.5 4.4 Cash Balance - End of Period 174.3$ 250.1$ 174.3$ 250.1$
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Net Cash 29 STRONG BALANCE SHEET: July 31, 2025 cash = $174.3M. July 31, 2025 debt = $99.8M. Balance sheet provides flexibility for future organic investments and strategic M&A. $91 $64 $26 $19 $15 $31 $84 $102 $123 $96 $97 $159 $29 $51 $49 $75 $0 $50 $100 $150 $200 $250 $300 $350 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Q3 F'25 Q4 F'25 NET CASH (millions of USD)
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Americas & Asia 30 • Revenues increased 14.1% in Q4 of F’25: • Organic growth = + 4.3%. • Acquisition = + 9.8%. • Organic sales grew 3.3% in the Americas with growth in most major product lines. • Organic sales grew 12.0% in Asia; growth throughout the region except for China. • Growth in segment profit due to organic sales growth in higher gross margin product lines, which was offset by increased amortization from acquisitions and facility closure and other reorganization costs. Excluding these increased costs, segment profit increased 3.7%. Q4 F’25 SUMMARY:Q4 F’25 vs. Q4 F’24 (millions of USD) $218 $220 $223 $227 $222 $212 $225 $228 $245 $234 $254 $261 19% 18% 22% 22% 23% 21% 22% 23% 22% 20% 23% 20% 0% 5% 10% 15% 20% 25% $100 $150 $200 $250 $300 $350 Q1 F'23 4.0% (1.4%) - Q2 F'23 6.9% (1.0%) - Q3 F'23 1.2% (0.8%) (0.3%) Q4 F'23 5.6% (0.2%) (1.0%) Q1 F'24 3.3% - (1.9%) Q2 F'24 1.2% 0.1% (5.1%) Q3 F'24 4.5% (0.1%) (3.5%) Q4 F'24 3.4% (0.8%) (2.2%) Q1 F'25 5.1% (0.2%) 5.8% Q2 F'25 4.3% (1.4%) 7.6% Q3 F'25 5.4% (1.1%) 8.6% Q4 F'25 4.3% - 9.8% SALES & SEGMENT PROFIT % (millions of USD) Q4 F’25 Q4 F’24 Change Sales $ 260.8 $ 228.5 14.1% Segment Profit 51.6 53.4 - 3.3% Segment Profit % 19.8% 23.3% - 360 bps • Low-single digit organic sales growth in F’26. • Growth in segment profit excluding amortization. OUTLOOK: Organic For. Curr. Acq. & Div.
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Europe & Australia 31 • Revenues increased 18.8% in Q4 of F’25: • Organic decline = (1.3%). • Fx increase = + 5.7%. • Acquisition = + 14.4% • Organic sales declined 0.8% in Europe and declined 5.1% in Australia. • Segment profit decreased primarily due to increased amortization and facility closure and other reorganization costs. Excluding these increased costs, segment profit increased 7.6%. Q4 F’25 SUMMARY:Q4 F’25 vs. Q4 F’24 (millions of USD) $104 $106 $114 $118 $110 $111 $119 $115 $132 $123 $129 $136 16% 13% 15% 16% 15% 14% 16% 17% 10% 9% 14% 11% 0% 5% 10% 15% 20% $50 $100 $150 $200 $250 Q1 F'23 12.8% (17.0%) - Q2 F'23 5.2% (8.9%) - Q3 F'23 3.4% (4.8%) - Q4 F'23 9.5% 2.0% - Q1 F'24 1.4% 4.6% - Q2 F'24 2.5% 2.0% - Q3 F'24 4.4% (0.6%) - Q4 F'24 (1.8%) (1.2%) - Q1 F'25 0.7% 3.6% 15.0% Q2 F'25 (0.8%) (3.6%) 15.1% Q3 F'25 (5.4%) (0.1%) 14.2% Q4 F'25 (1.3%) 5.7% 14.4% SALES & SEGMENT PROFIT % Q4 F’25 Q4 F’24 Change Sales $ 136.5 $ 114.9 + 18.8% Segment Profit 15.1 19.3 - 21.8% Segment Profit % 11.0% 16.8% - 580 bps Organic For. Curr. Acquisitions • Low-single digit organic sales growth in F’26. • Growth in segment profit excluding amortization. OUTLOOK: (millions of USD)
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Appendix GAAP to Non-GAAP Reconciliations
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Non-GAAP Reconciliations 33 2025 2024 2025 2024 60,505$ 68,208$ 237,097$ 247,841$ Amortization expense 4,778 2,337 18,916 9,421 Facility closure and other reorganization costs 8,890 - 18,474 - Non-recurring acquisitions-related costs and other expenses - - 5,059 - 74,173$ 70,545$ 279,546$ 257,262$ 2025 2024 2025 2024 10,629$ 12,752$ 47,841$ 50,626$ Amortization expense 1,148 540 4,550 2,182 Facility closure and other reorganization costs 2,222 - 4,618 - Non-recurring acquisitions-related costs and other expenses - - 1,265 - 13,999$ 13,292$ 58,274$ 52,808$ Year ended July 31, GAAP to NON-GAAP MEASURES (Unaudited; Dollars in Thousands, Except Per Share Amounts) In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconciliation to the most closely related GAAP measure. Adjusted Income Before Income Taxes: Brady is presenting the non-GAAP measure, "Adjusted Income Before Income Taxes." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this profit measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Income before income taxes to the non-GAAP measure of Adjusted Income Before Income Taxes: Three months ended July 31, Three months ended July 31, Adjusted Income Tax Expense (non-GAAP measure) Income before income taxes (GAAP measure) Adjusted Income Before Income Taxes (non-GAAP measure) Brady is presenting the non-GAAP measure, "Adjusted Income Tax Expense." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Income tax expense to the non-GAAP measure of Adjusted Income Tax Expense: Year ended July 31, Income tax expense (GAAP measure) Adjusted Income Tax Expense:
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Non-GAAP Reconciliations 34 2025 2024 2025 2024 49,876$ 55,456$ 189,256$ 197,215$ Amortization expense 3,630 1,797 14,366 7,239 Facility closure and other reorganization costs 6,668 - 13,856 - Non-recurring acquisitions-related costs and other expenses - - 3,794 - 60,174$ 57,253$ 221,272$ 204,454$ 2025 2024 2025 2024 $ 1.04 $ 1.15 $ 3.94 $ 4.07 Amortization expense 0.08 0.04 0.30 0.15 Facility closure and other reorganization costs 0.14 - 0.29 - Non-recurring acquisitions-related costs and other expenses - - 0.08 - 1.26$ 1.19$ 4.60$ 4.22$ Adjusted Diluted EPS Guidance: Low High Earnings per diluted Class A Common Share (GAAP measure) $ 4.55 $ 4.85 Amortization expense 0.30 0.30 Adjusted Diluted EPS (non-GAAP measure) 4.85$ 5.15$ Fiscal 2026 Expectations GAAP to NON-GAAP MEASURES (Unaudited; Dollars in Thousands, Except Per Share Amounts) In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconciliation to the most closely related GAAP measure. Adjusted Diluted EPS (non-GAAP measure) Three months ended July 31, Brady is presenting the non-GAAP measure, "Adjusted Net Income." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Net income to the non-GAAP measure of Adjusted Net Income: Year ended July 31, Net income (GAAP measure) Adjusted Net Income (non-GAAP measure) Adjusted Net Income: Three months ended July 31, Brady is presenting the non-GAAP measure, "Adjusted Diluted EPS." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Net income per Class A Nonvoting Common Share to the non-GAAP measure of Adjusted Diluted EPS (Note that certain amounts will not foot due to rounding): Year ended July 31, Net income per Class A Nonvoting Common Share (GAAP measure) Adjusted Diluted EPS:
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Non-GAAP Reconciliations 35 2021 2022 2023 2024 2025 $ 2.47 $ 2.90 $ 3.51 $ 4.07 $ 3.94 Amortization expense 0.10 0.22 0.18 0.15 0.30 Facility closure and other reorganization costs - - - - 0.29 Non-recurring acquisition-related costs and other expenses 0.06 0.03 - - 0.08 Acquisition-related tax charges 0.02 - - - - Gain on sale of business - - (0.05) - - Other-than-temporary impairment of unconsolidated affiliate 0.10 - - - - 2.75$ 3.15$ 3.64$ 4.22$ 4.60$ Net income per Class A Nonvoting Common Share (GAAP measure) Adjusted Diluted EPS (non-GAAP measure) Fiscal year ended July 31, Adjusted Diluted EPS: Brady is presenting the non-GAAP measure, "Adjusted Diluted EPS." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Net income per Class A Nonvoting Common Share to the non-GAAP measure of Adjusted Diluted EPS (Note that certain amounts will not foot due to rounding): GAAP to NON-GAAP MEASURES (Unaudited; Dollars in Thousands, Except Per Share Amounts) In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconciliation to the most closely related GAAP measure.