FGI Industries : Investor Presentation

Investor Presentation

September 2023

Disclaimer

Certain matters discussed in this presentation contains forward-looking statements concerning our business, operations and financial performance and conditions, as well as our plans, objectives and expectations for our business operations and financial performance and condition. These statements may be preceded by, followed by or include the words "may," "expect," "will," "will likely result," "should," "estimate," "plan" and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are inherently subject to risks and uncertainties, many of which

are beyond our control. Risks and uncertainties that could cause our actual results to differ from those expressed in, or implied by, our forward-looking

statements include, but are not limited to, the levels of residential repair and remodel activity, and to a lesser extent, new home construction; the effects of inflationary pressures and interest rates on demand for our products, our costs and our ability to access capital; our ability to maintain our strong brands and reputation and to develop innovative products; our ability to maintain our competitive position in our industries; our reliance on key suppliers and customers; the length and severity of the ongoing COVID-19 pandemic, including its impact on domestic and international economic activity, consumer confidence, our production capabilities, our employees and our supply chain; the cost and availability of materials and the imposition of tariffs; risks associated with our

international operations and global strategies; our ability to achieve the anticipated benefits of our strategic initiatives; our ability to successfully execute our

acquisition strategy and integrate businesses that we may acquire; risks associated with our reliance on information systems and technology, and our ability to achieve the anticipated benefits from our investments in new technology; our ability to attract, develop and retain talented and diverse personnel; our ability to obtain additional capital to finance our planned operations; regulatory developments in the United States and Internationally; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing the intellectual property rights of others; and other risks and uncertainties, including those listed under the caption "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022, as well as subsequent reports we file from time to time with the U.S. Securities and Exchange Commission (available at

www.sec.gov).

These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management's beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. In light of the significant uncertainties in these forward- looking statements, you should not rely upon forward-looking statements as predictions of future events. Any forward-looking statements and projections

made by third parties included in this presentation are not adopted by our company, and we are not responsible for these third-party statements and

projections. Although we believe the expectations reflected in the forward-looking statements are reasonable, the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements may not be achieved or occur at all. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise..

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FGI Industries at a Glance

Leading global B2B supplier of Kitchen and Bath Products

FGI is a leading global B2B supplier of Kitchen and Bath products with a reputation of Innovation, Quality and Service developed over 30 years in conjunction with our parent company, Foremost Groups Ltd.

Founded in		IPO in January
1988		2022

Strong Growth Opportunity

• BPC strategy offers meaningful growth potential

Favorable Market Trends

• Repair and Remodel market generates stable, predictable growth; limited exposure to new construction

Attractive Operating Model

• Outsourced manufacturing model and strong partner relationships provide flexibility and downside protection

Capital Efficient Model

• Capital-litemodel drives strong free cash flow conversion

Strong Balance Sheet

• Low net debt(1) relative to earnings, attractive liquidity

Recent Performance	$160MM+ Revenue	+ 980 bps 2Q23 gross
Business	margin expansion

(1) See attached appendix for reconciliation of GAAP and non-GAAP financial measures

New

Construction

20%

Repair/Remodel

80%

EU

Canada 10%

25%

USA

64%

Owned

Brands

40%

	Private
	Label
	60%
E-Commerce	Specialty
21%	2%

	Mass
Wholesale/Commercial	Retail
40%
37%
$22.6MM of cash and	$1MM Net Debt
liquidity at 6/30/23	Position at 6/30/23(1)

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Company Overview

Diverse Business Mix Provides Stability

	Sanitaryware	Bath Furniture	Shower Systems		Other
										(Kitchen Cabinetry, etc.)
 $105MM in 2022 Sales (65% of sales)	 $30MM in 2022 Sales (18% of sales)	 $22MM in 2022 Sales (14% of sales)	 $6MM in 2022 Sales (4% of sales)
 $12.5Bn market opportunity	 $22Bn market opportunity	 $12Bn market opportunity	 $18Bn market opportunity
Sanitaryware segment markets and	Bath Furniture segment markets and	Shower systems segment markets	Other segment consists primarily of
sells toilets, sinks, pedestals, and toilet	sells vanities, mirrors, and cabinets	and sells shower walls, shower doors,	our custom kitchen cabinetry
seats.				and shower basins	business

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Company Overview

Global Operational Footprint and Customer Base

United States & Canada	Europe	Asia-Pacific
• EAST HANOVER, NEW JERSEY	• DUSSELDORF, GERMANY	• TANGSHAN, CHINA
US Operations & Warehouse	European Operations	Product Purchasing & Development Center
• HOBART, INDIANA	• CHRISTCHURCH, ENGLAND	• TAIPEI
Shower Door Production Center	UK Operations	Global Support Center
Warehouse & Distribution
• WOODLAND, CALIFORNIA		• CAMBODIA
	Kitchen Production Center
Warehouse
• TORONTO, CANADA		• SYDNEY, AUSTRALIA
	Australasia Operations
Canada Operations & Warehouse

United States & Canada

Europe

E-Commerce

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