Arcosa : First Quarter 2024 Earnings Call PRESENTATION

FIRST QUARTER 2024 EARNINGS CONFERENCE CALL

MOVING INFRASTRUCTURE FORWARD | MAY 3, 2024

FORWARD LOOKING STATEMENTS

Some statements in this presentation, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Arcosa's estimates, expectations, beliefs, intentions or strategies for the future. Arcosa uses the words "anticipates," "assumes," "believes," "estimates," "expects," "intends," "forecasts," "may," "will," "should," "guidance," "outlook," "strategy," "plans," and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Arcosa expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, except as required by federal securities laws. Forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to assumptions, risks and uncertainties regarding the impact of pandemics on Arcosa's business; failure to successfully integrate acquisitions, including Ameron, or divest any business, or failure to achieve the expected benefits of acquisitions or divestitures; market conditions and customer demand for Arcosa's business products and services; the cyclical nature of, and seasonal or weather impact on, the industries in which Arcosa competes; competition and other competitive factors; governmental and regulatory factors; changing technologies; availability of growth opportunities; market recovery; ability to improve margins; the impact of inflation and costs of materials; assumptions regarding achievements of the expected benefits from the Inflation Reduction Act; the delivery or satisfaction of any backlog or firm orders; and Arcosa's ability to execute its long-term strategy, and such forward-looking statements are not guarantees of future performance. For further discussion of such risks and uncertainties, see "Risk Factors" and the "Forward-Looking Statements" section of "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Arcosa's Form 10-K for the year-ended December 31, 2023 and as may be revised and updated by Arcosa's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

NON-GAAP FINANCIAL MEASURES

This presentation contains financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). Reconciliations of non- GAAP financial measures to the closest GAAP measure are provided in the Appendix.

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HOW TO FIND US

OUR WEBSITE

www.arcosa.com

HEADQUARTERS

Arcosa, Inc.

500 North Akard Street, Suite 400

Dallas, TX 75201

NYSE TICKER

ACA

INVESTOR CONTACT

[e-mail]

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FIRST QUARTER 2024 HIGHLIGHTS

• First quarter revenues up 9% and Adjusted EBITDA up 7%, normalizing for the $22 million land sale gain in the prior period
• Results were better than expected, recovering from broad-based weather impacts in January with double-digit Adjusted EBITDA growth and higher overall margin in the balance of the quarter on an organic basis
• Strong execution on ramping up our cyclical businesses, improving our operating performance, and integrating recent acquisitions
• Operating cash flow increased 195% year-over-year and supported significant investment in organic growth projects
• On April 9th, completed $180 million acquisition of Ameron Pole Products LLC ("Ameron"), a leading manufacturer of highly engineered concrete and steel poles for a broad range of infrastructure products, at an attractive valuation and accretive to overall margin
• Increased full year 2024 consolidated revenues and Adjusted EBITDA guidance to incorporate Ameron and solid first quarter results
• Anticipate 23% full year 2024 Adjusted EBITDA growth at the mid-point of updated guidance range, excluding the land sale gain in 2023

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ARCOSA'S VALUE PROPOSITION

LEADING	EXPERIENCED	HEALTHY BALANCE	DISCIPLINED CAPITAL	TRACK RECORD
businesses serving	management team	sheet and ample	allocation process to	of executing on
critical	with history of	liquidity to navigate	grow in attractive	strategic priorities as
infrastructure	managing through	cycles and pursue	markets and improve	an independent public
markets	economic cycles	strategic growth	returns on capital	company

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01

STRATEGIC UPDATE

ARCOSA'S LONG-TERM VISION

Grow in attractive markets	Reduce the complexity and	Improve long-term	Integrate Environmental,
where we can achieve	cyclicality of the overall	returns on invested capital	Social, and Governance (ESG)
sustainable competitive	business		initiatives into our long-term
advantages			strategy

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STRATEGIC TRANSFORMATION

Today Arcosa is a less cyclical and more resilient company

Construction Products has Increased to

Approximately 60% of Adjusted EBITDA

Adjusted EBITDA, excluding Corporate($M)

	408
	66 (16%)
	113
	(28%)
219
64
(29%)
82	229
(38%)	(56%)
73
(33%)
FY 2018	LTM 03/31/24

Transportation Products Engineered Structures Construction Products

Actionable Strategic Progress to Position Portfolio for

Long-Term Growth

• Completed $180 million acquisition of Ameron on April 9, 2024
• Divestiture of storage tanks business for $275 million in October 2022
• Invested ~$1.5 billion on 5 large acquisitions and multiple complementary bolt-onsto expand our Construction Products platform
• Grew natural aggregates operations beyond Texas, now serving 11 Top 50
  MSAs, up from 5 at the end of 2018
• Added recycled aggregates to complement natural aggregates platform, serving 5 Top 25 MSAs
• Expanded specialty materials platform with broader geographic presence and product diversity
• Added 4 adjacent infrastructure-related product lines of traffic, telecom, lighting and concrete structures
• Invested organically to leverage larger platforms
• Market leading positions in our cyclical businesses, including barge, wind towers, and steel components, position us well for recovery

$1T Infrastructure Bill and $370B Inflation Reduction Act Create Multi-

Year Tailwinds for Many Arcosa Businesses

See Adjusted Segment EBITDA reconciliations in the Appendix.

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APRIL 9, 2024 - COMPLETED ACQUISITION OF AMERON FOR $180 MILLION

Advances our strategy to effectively deploy capital into Arcosa's growth businesses by expanding our product offerings in Engineered Structures

BUSINESS PROFILE

Ameron is a leading supplier of highly engineered, premium concrete and

steel poles for a broad range of infrastructure applications

STRATEGIC RATIONALE

• Provides entry into the complementary steel and concrete lighting

pole market

4

MANUFACTURING

SITES

~$20M ANNUAL

ADJUSTED EBITDA

ACCRETIVE MARGIN

~250 EMPLOYEES

REVENUE BY

PRODUCT LINE

Lighting Poles		Telecom Poles		Other
Traffic Signals		Utility Distribution

• Expands product offerings in traffic and telecom structures

businesses

• Margin accretive to both Engineered Structures segment and Arcosa

overall

• Similar to our utility structures business, long-term growth driven by

increased infrastructure spending, replacement demand, energy

transition, and population growth

• Establishes geographic presence on the West Coast

• Transaction accelerates our growth at an attractive 9X multiple

Adjusted EBITDA for the Year Ended 12/31/2023; see Ameron Adjusted EBITDA reconciliation in Appendix.

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02

Q1 2024 RESULTS