Patrick Industries : Investor Presentation – June 2021

Investor

Presentation

June 2021

Forward-Looking Statements

This presentation contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These risks and uncertainties include, but are not limited to, the impact of the continuing financial and operations uncertainty due to the COVID-19 pandemic, including its impact on the overall economy, our sales, customers, operations, team members and suppliers. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission.

This presentation includes market and industry data, forecasts and valuations that have been obtained from independent consultant reports, publicly available information, various industry publications and other published industry sources. Although we believe these sources are reliable, we have not independently verified the information and cannot make any representation as to the accuracy or completeness of such information.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this presentation or to reflect any change in our expectations after the date of this presentation or any change in events, conditions or circumstances on which any statement is based.

Use Of Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures. These measures, the purposes for which management uses them, why management believes they are useful to investors, and a reconciliation to the most directly comparable GAAP financial measures can be found in the Appendix of this presentation. All references to profit measures and earnings per share on a comparable basis exclude items that affect comparability.

2

Company Snapshot

Market Leader with a Focus on Delivering High-Quality, Reliable Products and Solutions

1959

Founded

Q1'2021 LTM Highlights:

Net Sales	$2.7B
PF Adjusted EBITDA 2	$348MM
Operating Cash Flow	$197MM
Free Cash Flow 3	$159MM
Liquidity 4	$303MM
Net Leverage 5	2.30x

$2.0B		Elkhart, IN		~9,500
Market Cap 1		Headquarters		Team members

Operations in 23 U.S. States, Canada, and China

Key component manufacturer and supplier to the

Leisure Lifestyle and

Housing & Industrial

Markets

1 As of 6/8/2021 | 2 Includes pro forma acquisition adjustments | 3 Operating Cash Flow less Capex | 4 As of 3/28/21 I 5 As defined by credit agreement

3

3

Diversified Market Platform

Patrick is a leading player in the Leisure Lifestyle and Housing & Industrial markets, as well as Aftermarket services within the markets it serves

End Market Evolution 1

2015

Industrial

11%

Leisure Lifestyle

Housing & Industrial

RV

1. Segmented industry based on proximity to customer locations

1. Closest competitors have a fraction of Patrick's sales and are generally local or regional

MH

1. Multiple products across the value chain allow good, better and best offering

1. Leverage current product offering capabilities to grow content per unit

Marine

1. Ability to leverage Patrick business model to further grow market share

1. The Company has increased its focus in this market through recent acquisitions, particularly within the last 3 years

Industrial

1. Large opportunity for market share gain

1. Addressable market opportunities in residential (both single and multi- family), commercial high rise, big box retail, office furniture and hospitality/ schools

	MH
	14%
Marine
2%	RV
	73%

2015 Net Sales: $920MM / Adj. EBITDA (%): 9.9%

Improved Diversification

Q1'2021 LTM

Industrial 12%

MH

16%

RV 57%

Marine 15%

Q1'2021 LTM Net Sales: $2.7B / PF LTM Adj.

EBITDA (%): 12.7%

1 Based on FYE net sales by end market

4

Leisure Lifestyle (72% of Q1'21 LTM Sales)

End Market Statistics

$2.0 Billion		20%
of Q1'21 LTM Net Sales		FY 2015-2020CAGR

Highlights

Strategic Investment

End Market Product Categories:

RV Product Categories

Towable

Shipments: 89% Wholesale | 64% Retail Value

Travel Trailer | ASP: $25,300

Fifth Wheel | ASP: $55,200

Motorized

• New buyer traffic and activity remains strong
• Inventories at historic lows with retails sales outpacing wholesale shipments
• Increasing OEM backlogs
• Completed 12 marine acquisitions since 2018
• Completed 7 RV acquisitions since 2018

• $765 million invested towards strategic acquisitions since 2018
• Over $65 million invested in capacity expansion, cost reduction, and new product development to enhance organic growth since 2018

Shipments: 11% Wholesale | 36% Retail Value

Class A | ASP: $214,000	Class B & C | ASP: $95,800

Marine Product Categories

Pontoon		Ski & Wake
ASP: $44,300 | 27% of Market		ASP: $111,000 | 5% of Market

FiberglassAluminum

ASP: $81,300 | 39% of Market ASP: $26,500 | 29% of Market

5