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Q2 2026 Earnings Presentation July 30, 2026
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2 This presentation contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Forward-looking statements include information with respect to financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, industry projections, growth opportunities, acquisitions, plans and objectives of management, markets for the common stock and other matters. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These risks and uncertainties include, in addition to other matters described in this presentation, and without limitation: adverse economic and business conditions, including cyclicality and seasonality in the industries we sell our products and inflationary pressures, challenges and risks associated with importing products, such as the imposition of price caps, or the imposition of trade restrictions or tariffs on any materials or products used in the operation of our business, the impacts of future pandemics, geopolitical tensions or natural disaster on the overall economy, our sales, customers, operations, team members and suppliers. Further information concerning the Company and its business, including risk factors that potentially could materially affect the Company’s financial results, are discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on February 19, 2026. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this presentation or to reflect any change in our expectations after the date of this presentation or any change in events, conditions or circumstances on which any statement is based. Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. These measures, the purposes for which management uses them, why management believes they are useful to investors, and a reconciliation to the most directly comparable GAAP financial measures can be found in the Appendix of this presentation. All references to profit measures and earnings per share on a comparable basis exclude items that affect comparability. Forward-Looking Statements
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Net Sales $1.04B 3 Q2 2026 Key Takeaways (9%) 7% 1% Net Sales Change (0.6%) $1.05B $1.04B Estimated Q2 Net Sales Growth Drivers2 Revenue growth across Marine, Powersports, and Housing predominantly offset a decline in RV revenue, demonstrating the value of Patrick’s strategic diversification Estimated organic growth of 7% Returned $106M to shareholders through dividends and share repurchases, including the repurchase of 980K shares in Q2 Key Metrics Adjusted Operating Margin1 7.5% Adjusted Net Income1 $44M Adjusted Diluted EPS1 $1.29 (0.6%) vs. Q2 2025 vs. Q2 2025 1 Non-GAAP metric: Refer to appendix for reconciliation to closest GAAP metric | 2 Figures may not sum due to rounding Organic Q2 2025 Net Sales Q2 2026 Net SalesIndustry Acquisitions (14%) vs. Q2 2025 Adjusted EBITDA & Margin1 $126M | 12.1% (14%) vs. Q2 2025 (80 bps)
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4 Q2 2026 Revenue Composition 39% Outdoor Enthusiast Markets RV Marine Powersports Housing 18% 12% 31% $407M (15%) 77,600 (16%) $5,303 +7% End Market Revenue Content Per Unit (TTM) Wholesale Shipments $191M +22% 38,800 ~FLAT $4,883 +22% $123M +28% $320M +2% 25,500 (8%) $6,673 ~FLAT % of Q2 Net Sales ✓ Increasing OEM attachment rates ✓ Utility-focused unit demand remains strong 1 Based on data from RV Industry Association (RVIA) | 2 Company estimate based on data from National Marine Manufacturers Association (NMMA) | 3 Company estimate based on data from Manufactured Housing Institute (MHI) Q2 2026 compared to Q2 2025 unless otherwise noted 1 1 2 2 3 3 *Manufactured housing (MH) content per unit *MH wholesale unit shipments
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5 Improved Earnings Power Despite Lower Shipments 1 RVIA | 2 Company estimate based on data from NMMA | 3 Non-GAAP metric: Refer to appendix for reconciliation to closest GAAP metric | 4 FY2019 reflects the impact of the three-for-two stock split paid in December 2024 | * In 2019, Powersports sales were included in Marine sales 2019 to Q2 2026 Comparison $ in millions, except per share data FY 2019 Q2 2026 TTM ∆ Wholesale RV Unit Shipments1 406,070 315,159 (22%) Wholesale Marine Unit Shipments2 189,945 135,588 (29%) Total Net Sales $2,337 $3,939 +69% Total RV Revenue $1,287 $1,671 +30% Total Marine Revenue $329 $662 +101% Total Powersports Revenue* - $433 NM Total Housing Revenue $721 $1,172 +63% Gross Margin 18.1% 23.1% +500 bps Adjusted Operating Margin 3 6.6% 6.8% +20 bps Adjusted Diluted EPS 3,4 $2.57 $4.23 +65% Adjusted EBITDA Margin 3 10.1% 11.6% +150 bps Strategic Diversification Long-term Secular Growth Trends Entrepreneurial Spirit Strong Financial Foundation Experienced Leadership Team Key Drivers Note: Figures may not sum due to rounding
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Q2 2025 Q2 2026 6 $ in millions, except per share data RV Marine Powersports Housing 1 Non-GAAP metric: Refer to appendix for reconciliation to closest GAAP metric 23.9% 23.8% Q2 2026 Financial Performance Net Sales & Gross Margin RV Marine Powersports Housing (15%) +22% +28% +2% 12.9% 12.1% Q2 2025 Q2 2026 8.3% 7.5% Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Adjusted Operating Margin1 Adjusted Diluted EPS1 Adjusted EBITDA Margin1 (80 bps) (14%) (80 bps) Adjusted diluted EPS included the dilutive impact of convertible notes and related warrants, or ~$0.07 per share in Q2 2026 and ~$0.03 per share in Q2 2025 $1.50 $1.29 Total Net Sales $1.05B $1.04B Adjusted EBITDA1 $135 $126 Revenue Growth Ranking By End Market (Year-Over-Year)
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7 Performance By End Market
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8 Revenue $407M (15%) vs. Q2 2025 % of Q2 2026 Net Sales Q2 2026 TTM Content Per Unit1 $5,303 +7% vs. Q2 2025 TTM Q2 2026 Shipments Q2 2025 Q2 2026 % Change Wholesale1 92,900 77,600 (16%) Retail2 113,300 99,200 (12%) Dealer Inventory Change (~21,600) units 39% $228 $479 $407 Q2 2016 Q2 2025 Q2 2026 $1,930 $4,952 $5,303 Q2 2016 TTM Q2 2025 TTM Q2 2026 TTM 10-Yr CAGR: +11% +7% 10-Yr CAGR: +6% (15%) 1 RVIA | 2 Company estimate based on data published by SSI Revenue Growth ($ in millions) Content Per Unit1 Growth
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9 Revenue $191M +22% vs. Q2 2025 % of Q2 2026 Net Sales Q2 2026 TTM Content Per Unit1 $4,883 +22% vs. Q2 2025 TTM Q2 2026 Shipments1 Q2 2025 Q2 2026 % Change Wholesale 38,700 38,800 ~FLAT Retail 61,200 57,800 (6%) Dealer Inventory Change (~19,000) units $7 $156 $191 Q2 2016 Q2 2025 Q2 2026 10-Yr CAGR: +39% +22% 18% $3,991 $4,883 Q2 2016 TTM Q2 2025 TTM Q2 2026 TTM 10-Yr CAGR: NM +22% 1 Company estimates based on data published by NMMA and SSI Content Per Unit1 Growth Revenue Growth ($ in millions)
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10 Revenue $123M +28% vs. Q2 2025 $36 $96 $123 Q2 2022 Q2 2025 Q2 2026 4-Yr CAGR: +36% +28% % of Q2 2026 Net Sales 12% Revenue Growth ($ in millions) Solidifying Industry Leading Powersports Platform • Utility-focused vehicles continue to drive demand growth, while recreation demand is showing early signs of recovery • Consumers continue to seek feature- rich vehicles with components like Sportech’s cab enclosures and highly- engineered audio and HVAC systems • Patrick’s innovative teams and engineers continue to collaborate with OEMs to deliver next-generation solutions
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11 Revenue $320M +2% vs. Q2 2025 % of Q2 2026 Net Sales Q2 2026 TTM Content Per Unit 1 $6,673 ~FLAT vs. Q2 2025 TTM Q2 2026 Shipments Q2 2025 Q2 2026 % Change MH Wholesale1 27,600 25,500 (8%) Housing Starts2 (in thousands) 375 372 (1%) $80 $315 $320 Q2 2016 Q2 2025 Q2 2026 10-Yr CAGR: +15% +2% 31% $1,827 $6,676 $6,673 Q2 2016 TTM Q2 2025 TTM Q2 2026 TTM 10-Yr CAGR: +14% ~FLAT MH Content Per Unit1 Growth 1 Company estimate based on data published by MHI | 2 Based on data published by the U.S. Census Bureau Revenue Growth ($ in millions)
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12 End Market Landscape RV Marine Powersports Housing ✓ OEM wholesale production management supporting continued dealer inventory discipline and lean field inventories ✓ Business is sized and scaled to support customers without compromising quality or service in a lower shipment environment ✓ New digital printing technology can print anything from cost-competitive finishes to premium textured surfaces on a variety of substrates ✓ Consumer demand for feature-rich units remains strong and more of Patrick’s utility- focused products are being adopted by OEMs ✓ Utility vehicles continue to perform well, leading demand in the industry, while recreational-focused units have begun to show early signs of improving demand ✓ Upcoming large-scale technology infrastructure projects are a possible demand tailwind within powersports ✓ Revenue growth continued despite flat estimated wholesale shipments, supported by Patrick’s content gains ✓ Upcoming model-year changeover and expanding electrical solutions expected to enable further growth and customer penetration ✓ Leaner dealer inventories and disciplined production position the market to respond more effectively as demand improves ✓ Pent-up demand for affordable housing constrained by elevated interest rates, affordability pressures, and low consumer confidence ✓ Patrick remains well positioned for a recovery, supported by favorable supply- demand fundamentals and potential regulatory tailwinds, including the ROAD to Housing Act, which became law in July 2026 Meaningful retail demand inflection likely depends on consumer confidence and interest rate improvement
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13 Financial Strength Supports Disciplined Capital Allocation Available Liquidity1 $691M Q2 2026 YTD Acquisitions Capex Share Repurchases Dividends 1 Non-GAAP metric: Refer to appendix for reconciliation to closest GAAP metric | 2 As defined by credit agreement Net Leverage1,2 3.0x Capital Allocation ✓ Ample liquidity provides flexibility to execute across market cycles ✓ Balanced capital allocation strategy enables reinvestment into long-term profitable growth initiatives and solid shareholder returns ✓ Returned $106M to shareholders in Q2 2026, including $15M in dividends and $91M to repurchase 980K shares in Q2 2026
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Full-Year 2026 Outlook 14 1 RVIA | 2 Company estimates based on data from NMMA, SSI and MHI | 3 Data not publicly available | 4 U.S. Census Bureau | 5 Non-GAAP metric: Refer to appendix for reconciliation to closest GAAP metric End Market Outlook FY 2025 FY 2026 Outlook Prior 2026 Outlook RV Wholesale Unit Shipments 342K1 285K to 300K 315K to 330K RV Retail Unit Shipments 349K2 Down LDD % Down LSD to MSD % Marine Wholesale Powerboat Unit Shipments 137K2 Up LSD % No Change Marine Retail Powerboat Unit Shipments 152K2 Flat to Down Slightly No Change Powersports Organic Content N/A3 Up LSD % No Change Powersports Wholesale Unit Shipments N/A3 Up LSD % No Change MH Wholesale Unit Shipments 103K2 Down LSD to MSD % No Change New Housing Starts 1.4M4 Down LSD to MSD % No Change Financial Outlook FY 2025 FY 2026 Estimate Prior 2026 Estimate Adjusted Operating Margin 7.0%5 Flat Up 30 to 50 bps Operating Cash Flows $329M $320M to $350M $370M to $390M Capital Expenditures $83M $70M to $80M No Change Free Cash Flow $246M5 ~$250M ~$300M Tax Rate ~24% 24% to 25% No Change
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15 Non-GAAP Reconciliations
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16 16 Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. • Earnings before interest, taxes, depreciation and amortization (“EBITDA”), pro forma adjusted EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating margin, adjusted net income, adjusted diluted earnings per common share, and net debt to pro forma adjusted EBITDA are non-GAAP financial measures. In addition to reporting financial results in accordance with accounting principles generally accepted in the United States, we provide non-GAAP operating results adjusted for certain items and other one- time items. • We adjust for the items listed above in all periods presented, unless the impact is clearly immaterial to our financial statements. • Content per unit metrics are generally calculated using our market sales divided by Company estimates based on third-party measures of industry volume. • We utilize the adjusted results to review our ongoing operations without the effect of these adjustments and for comparison to budgeted operating results. We believe the adjusted results are useful to investors because they help them compare our results to prior periods and provide important insights into underlying trends in the business and how management oversees our business operations on a day-to-day basis. • We calculate free cash flow by subtracting cash paid for purchases of property, plant and equipment from net cash provided by operating activities. • Figures may not sum due to rounding.
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17 ($ in millions) 2019 Q2 2025 Q2 2026 Q2 2026 TTM Net income $90 $32 $43 $147 + Depreciation & amortization 63 43 43 171 + Interest expense, net 37 19 19 74 + Income taxes 28 11 15 44 EBITDA $218 $105 $120 $436 + Stock-based compensation 15 6 6 20 + Acquisition related fair-value inventory step-up - - - 1 + Legal settlement - 24 - - + (Gain) Loss on sale of property, plant and equipment 2 - - (1) Adjusted EBITDA $235 $135 $126 $457 Net sales $2,337 $1,048 $1,042 $3,939 Adjusted EBITDA margin 10.1% 12.9% 12.1% 11.6% Non-GAAP Reconciliations Reconciliation of Net Income to EBITDA to Adjusted EBITDA and Adjusted EBITDA Margin ($ in millions) 2025 Net cash provided by operating activities $329 Less: purchases of property, plant and equipment (83) Free cash flow $246 Reconciliation of Free Cash Flow
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18 ($ in millions, except per share data) 2019 Q2 2025 Q2 2026 Q2 2026 TTM Net income $90 $32 $43 $147 + Acquisition related fair-value inventory step-up - - - 1 + Legal settlement - 24 - - - Tax impact of adjustments - (6) - - Adjusted net income $90 $51 $44 $148 Diluted earnings per common share $2.57 $0.96 $1.28 $4.20 Acquisition related fair-value inventory step-up, net of tax - - - 0.01 Merger-related costs, net of tax - - 0.01 0.01 Loss on sale of business unit, net of tax - - - 0.01 Legal settlement, net of tax - 0.54 - - Adjusted diluted earnings per common share $2.57 $1.50 $1.29 $4.23 Non-GAAP Reconciliations Reconciliation of Net Income to Adjusted Net Income to Adjusted Diluted Earnings Per Common Share 1 1 2019 reflects the impact of the three-for-two stock split paid in December 2024
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19 Non-GAAP Reconciliations ($ in millions) Q2 2026 TTM Net income $147 + Depreciation & amortization 171 + Interest expense, net 74 + Income taxes 44 EBITDA $436 + Stock-based compensation 20 + Acquisition pro forma, transaction-related expenses & other 13 Pro forma adjusted EBITDA $469 Reconciliation of Net Income to EBITDA to Pro Forma Adjusted EBITDA 2019 Q2 2025 2025 Q2 2026 Q2 2026 TTM Operating margin 6.6% 8.3% 7.0% 7.4% 6.7% Acquisition related fair-value inventory step-up - - - - 0.1% Merger-related costs - - - 0.1% - Adjusted operating margin 6.6% 8.3% 7.0% 7.5% 6.8% Reconciliation of Operating Margin to Adjusted Operating Margin
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20 Non-GAAP Reconciliations ($ in millions) Total Revolver Credit Capacity $875.0 Less: Total Revolver Used (including outstanding letters of credit) 213.6 Unused Credit Capacity $661.4 Add: Cash on Hand 29.2 Available Liquidity $690.6 Available Liquidity (as of Q2 2026) ($ in millions) Total Debt Outstanding $1,431.2 Less: Cash and Debt Paid as Defined by the Credit Agreement 37.3 Net Debt $1,393.9 Pro Forma Adj. EBITDA $468.7 Net Debt to Pro Forma Adj. EBITDA 3.0x Net Leverage (as of Q2 2026) Capital Structure • $125.0M Term Loan ($115.6M o/s), scheduled quarterly installments; balance due October 2029 • $875.0M ($205.0M o/s) Senior Secured Revolver, due October 2029 • $258.7M 1.750% Convertible Senior Notes, due December 2028 • $350.0M 4.750% Senior Notes, due May 2029 • $500.0M 6.375% Senior Notes, due November 2032