Mayville Engineering : Investor Day 2023

MAYVILLE ENGINEERING COMPANY

2023 Investor Day

Safe Harbor/Non-GAAP Measures

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act

of 1995: This presentation contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this presentation should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments

or otherwise.

The financial target information provided in this presentation includes the forward-looking financial measures calculated in a manner other than in accordance with U.S. generally accepted accounting principles (GAAP). The non-GAAP measures used in this presentation are adjusted net income (loss) before interest, taxes, depreciation and amortization (Adjusted EBITDA), Adjusted EBITDA as a percentage of net sales (Adjusted EBITDA margin) and free cash flow, which management uses as key performance indicators, and we believe they are measures frequently used by securities analysts, investors and other parties to evaluate companies in our industry. These metrics are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures should not be considered as an alternative to net income or cash provided by operating activities, or any other performance measure derived in accordance with GAAP as an indicator of our operating performance.

Welcome & Agenda

Opening Remarks	Jag Reddy (President & CEO)
Three Year Strategy Overview	Jag Reddy (President & CEO)
Commercial Excellence & Expansion	Ryan Raber (EVP: Strategy, Sales & Marketing)
Operational Excellence	Rand Stille (Chief Operating Officer)

Financial Growth & Shareholder Value Creation

Todd Butz (Chief Financial Officer)

Q&A Session

Closing Remarks

Plant Tour

Jag Reddy (President & CEO)

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	Corporate Strategy		Commercial Excellence		Operational Excellence		Financial Growth

Presenting Team

Seasoned management team with deep industry experience

	Jag A. Reddy		Todd M. Butz		Rand P. Stille	Ryan F. Raber
	President & CEO		Chief Financial Officer		Chief Operating Officer	EVP, Strategy, Sales & Marketing
•	W.R Grace	•	Mercury Marine	•	Universal Logistics Holdings	• Morton Metalcraft Co.
•	Pentair		(a Brunswick Company)	•	Shape Corp.
•	ITT/Xylem	•	Schenck Business Solutions	•	Johnson Controls

• United Technologies
• Danaher Corporation
• Denso Corporation

1+ yr

At MEC

25+ yrs	15 yrs
Industry	At MEC
Experience

25+ yrs	4 yrs
Industry	At MEC
Experience

25+ yrs	14 yrs
Industry	At MEC
Experience

15+ yrs

Industry

Experience

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Key Messages for Today

MBX Framework

Guiding value creation across the enterprise

Commercial Excellence

Expansion within higher-value adjacent end- markets

Operational Excellence

Improve asset optimization, reduce costs and create capacity for growth

High Performance Culture

Standardized approach to strategic execution and commitment to excellence

Measurable Shareholder Value Creation

2026 Targeted Net Sales of $750-$850M

2026 Targeted Adj. EBITDA of $105-$135M 2026 Targeted Adj. EBITDA Margin of 14%-16% 2026 Targeted Free Cash Flow of $65 - $75M

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