Lindsay : Third Quarter 2022 Earnings Slide Deck

3rd Quarter Fiscal 2022 Earnings Slide Deck

Safe-Harbor Statement

This presentation contains forward-looking statements that are subject to risks and uncertainties, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance, financial results and planned financing. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission.

Investors should understand that a number of factors (including but not limited to the lingering effects of the COVID-19 pandemic and related public health measures on plant operations, workforce availability, supply chain availability, and product demand) could cause future economic and industry conditions and the Company's actual financial condition and results of operations to differ materially from management's beliefs expressed in the forward- looking statements contained in this presentation. These factors include those outlined in the "Risk Factors" section of the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission, and investors are urged to review these factors when considering the forward-looking statements contained in this presentation.

For these statements, the Company claims the protection of the safe harbor for forward- looking statements contained in the Private Securities Litigation Reform Act of 1995.

For full financial statement information, please see the Company's earnings release dated June 30, 2022.

2

Third Quarter Summary

Amounts in millions, except per share amounts

Revenue	Operating Income	Diluted EPS
	(with operating margin)

+32%

+65%

+42%

• Revenues increased $52.3 million compared to prior year
• • Irrigation increased $48.5 million
  • Infrastructure increased $3.8 million
• Operating income increased $13.8 million compared to prior year
• • Irrigation increased $15.6 million
  • Infrastructure was $3.8 million and comparable to prior year
  • Corporate expense increased $1.8 million
  • • Primarily due to higher incentive compensation and travel expense compared to the prior year

3

Third Quarter and YTD Financial Summary

4

Current Market Factors

Irrigation

• May 2022 U.S. corn prices have increased 18 percent and soybean prices have increased 11 percent from a year ago. The sustained increases are due to constrained supply levels globally, coupled with higher demand. The continued conflict between Russia and Ukraine continues to put pressure on the availability of agricultural commodities, further increasing corn, wheat and soybean prices.
• As of February 2022, the USDA projected net farm income to be $113.7 billion, a decrease of 4.5 percent from 2021. A projected increase in cash receipts has been more than offset by a decrease in government support payments and higher cash expenses. If realized, projected 2022 net farm income would be at its second-highest level since 2013.
• Inflationary pressure on input and logistics costs are expected to continue, requiring further price increases.
• Supply chain and logistics challenges are expected to persist in the near term.

Infrastructure

• The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021 and marked the largest infusion of federal investment into infrastructure projects in more than a decade. It includes a five-year reauthorization of the Fixing America's Surface Transportation (FAST) Act.
• This legislation introduced $110 billion in incremental federal funding to repair roads, bridges, and support other transformational projects, which the Company anticipates will translate into higher demand for its transportation safety products.
• On March 10, 2022, the first allocations of the IIJA funds were approved with the signing of the 2022 omnibus appropriations bill.
• Cost inflation and constraints in availability of labor resources are impacting the timing and scope of certain construction projects.

5