Hillman : Investor Presentation - May 2024

Investor Presentation

Q1 2024

Forward Looking Statements

This presentation contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. All forward-looking statements are made in good faith by the company and are intended to qualify for the safe harbor from liability established by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.You should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "target", "goal", "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) unfavorable economic conditions that may affect operations, financial condition and cash flows including spending on home renovation or construction projects, inflation, recessions, instability in the financial markets or credit markets; (2) increased supply chain costs, including raw materials, sourcing, transportation and energy; (3) the highly competitive nature of the markets that we serve; (4) the ability to continue to innovate with new products and services; (5) direct and indirect costs associated with the May 2023 ransomware attack, and our receipt of expected insurance receivables associated with that cyber security incident; (6) seasonality; (7) large customer concentration; (8) the ability to recruit and retain qualified employees; (9) the outcome of any legal proceedings that may be instituted against the Company; (10) adverse changes in currency exchange rates; or (11) regulatory changes and potential legislation that could adversely impact financial results. The foregoing list of factors is not exclusive, and readers should also refer to those risks that are included in the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended December 30, 2023. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward looking statements.

Except as required by applicable law, the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this communication to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Presentation of Non-GAAP Financial Measures

In addition to the results provided in accordance with U.S. generally accepted accounting principles ("GAAP") throughout this presentation the company has provided non-GAAP financial measures, which present results on a basis adjusted for certain items. The company uses these non-GAAP financial measures for business planning purposes and in measuring its performance relative to that of its competitors. The company believes that these non-GAAP financial measures are useful financial metrics to assess its operating performance from period-to-period by excluding certain items that the company believes are not representative of its core business. These non-GAAP financial measures are not intended to replace, and should not be considered superior to, the presentation of the company's financial results in accordance with GAAP. The use of the non-GAAP financial measures terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. These non-GAAP financial measures are reconciled from the respective measures under GAAP in the appendix below.

The company is not able to provide a reconciliation of the company's non-GAAP financial guidance to the corresponding GAAP measures without unreasonable effort because of the inherent difficulty in forecasting and quantifying certain amounts necessary for such a reconciliation such as certain non-cash, nonrecurring or other items that are included in net income and EBITDA as well as the related tax impacts of these items and asset dispositions / acquisitions and changes in foreign currency exchange rates that are included in cash flow, due to the uncertainty and variability of the nature and amount of these future charges and costs.

Investor Presentation - May 2024

Key Stats: Q1 2024

HILLMAN SOLUTIONS CORP. - NASDAQ: HLMN

Share Price (May 10, 2024 - Closing Price)	$9.58
52-Week Low / High	$6.02 / $10.85
Total Shares Outstanding / Diluted*	196.0 / 197.7 million
Equity Market Capitalization*	$1.9 billion
Net Debt	$747.5 million
Total Enterprise Value*	$2.6 billion
Net Debt / Adj. EBITDA (ttm)	3.2x
Net Sales (ttm)	$1.5 billion
Adj. EBITDA (ttm)	$231.5 million
First Day of Trading: Nasdaq	July 15, 2021
Employees (12/30/2023)	~3,800

Total shares outstanding as of May 6, 2024. Diluted share count represents the weighted average diluted shares outstanding during the most recent quarter. Stats as of May 10, 2024, using Q1 2024 data unless otherwise indicated.

Adjusted EBITDA and Net Debt are non-GAAP measures. Please see appendix for reconciliations to GAAP metrics.

Investor Presentation - May 2024

Hillman Overview

WHO WE ARE

We are a leading North American provider of hardware products and solutions, including;

1. Hardware and home improvement products
2. Protective and job site gear - including work gloves and job site storage
3. Robotic kiosk technologies ("RDS"): Key duplication, engraving & knife sharpening

Our differentiated service model provides direct to-store shipping, in-store service, and category management solutions

We have long-standing strategic partnerships with leading retailers across North America:

• Home Depot, Lowes, Walmart, Tractor Supply, and ACE Hardware

Founded in 1964; HQ in Cincinnati, Ohio

*Management estimates. Adjusted EBITDA is a non-GAAP measure. Please see Appendix for a reconciliation of Adjusted EBITDA to Net Income.

BY THE NUMBERS

~20 billion	~245 million	+115 million
Fasteners	Pairs of Work	Keys
Sold	Gloves Sold	Duplicated
~114,000	~46,000	~31,000
SKUs	Direct Ship	RDS Machines in
Managed	Locations	Retail Locations
#1	8.0%+	60-Year
Position Across
Sales CAGR over	Track Record of
Primary	past 10 years	Success
Categories*
$1.5 billion	9.4% CAGR	14.9%
2018 - 2023 Adj.	2023 Adj.
2023 Net Sales	EBITDA Growth	EBITDA Margin

Investor Presentation - May 2024

Our Differentiated Service Model

WHY WE WIN - WE MANAGE COMPLEXITY FOR CUSTOMERS

Direct-to-Store

Shipping

Over 75% of the revenue from our 114,000 SKUs are shipped directly to our customers' retail stores.

Our products primarily flow through Hillman's hub-and- spoke distribution network (not through our customer's distribution centers).

Field Sales and

Service Team

Our 1,100-member team works in our customers' stores regularly and has for the past 28 years.

Hillman's role varies by

customer and ranges from managing the aisle, organizing and cleaning displays, managing inventory, and ordering products.

Innovative Hillman-

Owned Brands

Over 90% of revenue comes from Hillman-owned brands.

Leading consumer brands with strong recognition

Research driven innovation provides differentiation with IP protection (130+ issued patents).

Enables Hillman to implement feedback from the DIYer, pro, and retailer customers.

Investor Presentation - May 2024

Our Competitive Advantages

Direct-to-StoreShipping Field Sales & Service Team	Hillman-Owned Brands

• Over 75% of Hillman's 114,000 SKUs are shipped store-direct or store- specific
• Products flow through Hillman's 22 distribution centers ("DCs") to
  46,000 locations across North America
• Products shipped direct-to-storedo notflow through customer DCs
• Daily POS + Direct Store Delivery + Our Team in the store = fill rates of 94% during YTD 2024

Hillman's 22

distribution centers

ship to 46,000

locations

• Enables customers to utilize just- in-time inventory management
• Increases product-to-shelf speed and reduces retailer shipping and handing costs (freeing up capacity in their DCs)

Investor Presentation - May 2024

Our Competitive Advantages

Direct-to-StoreShipping Field Sales & Service Team

Hillman-Owned Brands

• Hillman's 1,100 team members are in customers' stores on a regular basis
• Spend $90 million annually on this team which serves as the key differentiator vs. competition
• In a challenging labor market, Hillman's customers can rely on its long-tenured (avg. 11+ years) sales and service team, which experiences low turnover
• Hillman's team manages the aisle, organizes and cleans displays, manages inventory, writes orders (traditional hardware), and services RDS kiosks
• Team consists of four groups: traditional hardware, big box retail, Canadian retail, and RDS techs
• Our team has been in the stores of our customers for the past 28 years
• Consistently awarded Vendor of the Year Awards by top customers for delivering value & growth (2023: Tractor Supply and Mid States)

Investor Presentation - May 2024

Our Competitive Advantages

Direct-to-Store Shipping Field Sales & Service Team

Hillman-Owned Brands

• Over 90% of revenue comes from Hillman- owned brands

Hillman's Top 10 Brands

• Hillman's brands recognized by the consumer (DIYer and pro) and are often sought out by and preferred by the pro
• Able to differentiate offerings based on specific retailer strategies
• Capable of implementing feedback (from retailer, DIYer, or pro) to improve products to meet evolving customer needs
• Create products that align with our customer's strategy
• Develop innovative and differentiated products through R&D, enhancing brand equity

Investor Presentation - May 2024

History of Strong Performance

LONG-TERM TRACK RECORD OF TOP-LINE GROWTH

• Our products are used for home Repair, Remodel and Maintenance
• The end user of Hillman products are the "Pick Up Truck Pro" and the "DIYer"
• Not tied to new housing construction as we do not ship to job sites
• Highly attractive ~$6 billion1 market with strong tailwinds: aging inventory of U.S. housing, millennials buying homes, aging in place, etc.

Total Annual Net Sales since 2000

In 2009, Adj. EBITDA was up 10% while the top line was down 5%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

End User of Hillman Products1:	In 2024, Hillman
Professional: 25%	celebrates its
60th anniversary
DIYer: 75%

1. Company Estimate

Investor Presentation - May 2024

Customer and Product Details

NET SALES BY CUSTOMER

Ace Hardware*
13%	Walmart
	6%
Home Depot	Home
U.S.	Depot CA
19%	4%
	Tractor
Lowe's	Supply
20%	3%
	True Value*
	3%
All Other	Do It Best*
26%	3%

Canadian Tire	Petsmart
1%
1%

NET SALES BY PRODUCT TYPE

		Specialty Fasteners
Keys		7%
Gloves
12%	Builders
10%
	Hardware
Traditional		6%
Fasteners
15%		Anchors
		5%
Construction		Rods, Shapes
Fasteners		& Sheets
25%		4%
	Other	Work Gear
	10%	3%
		Engraving
		3%

ON AVERAGE HILLMAN HAS BEEN SELLING ITS TOP CUSTOMERS FOR 25 YEARS:

2023 Results

*Net sales include corporate (where applicable) and independent franchisees.

Investor Presentation - May 2024