Shawcor : Q1 2022 Earnings Release Presentation

Q1 2022

Earnings Release Presentation

Q1 2022 Forward-Looking Information

This presentation contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. Additional information on the risks and uncertainties on the Company's business can be found in the Company's current Annual Information Form, annual and quarterly reports and in other reports and filings made with the securities regulatory authorities and available at www.sedar.com and www.shawcor.com. The forward-looking information is provided as of the date of this presentation and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law. The complete text of Shawcor's statement on forward looking information is included at the outset of the Company's First Quarter 2022 Management Discussion and Analysis (MD&A) report, which is available on SEDAR and on the Company's website at shawcor.com.

Q1'22 EARNINGS RELEASE PRESENTATION - 2

Q1 2022 Highlights

Q1 Adjusted EBITDA above expectations

Year-over-Year growth in Composite and Automotive and Industrial segments

Revenue contribution from businesses serving

infrastructure & industrial end markets reached 49% in Q1

19% growth in backlog with new record backlogs in Composite and A&I segments

Continuing to execute on energy efficiency opportunities throughout organization

LESS VOLATILE INFRASTRUCTURE & INDUSTRIAL

REVENUE EXPANDING

Revenue

100%

80%

60%

40%

20%

0%

2019	2020	2021	Q1-2022
		Infrastructure & Industrials			Oil & Gas

Q1'22 EARNINGS RELEASE PRESENTATION - 3

Bookings exceed sales to deliver new

Q1 2022 Composite Systems

50% increase in revenue vs. Q1-2021 to $106 million

Rising demand for FlexPipe products in North America Strong order growth for larger diameter FlexPipe Continued robust tank demand with stabilizing resin supply

record backlog

Q1'22 EARNINGS RELEASE PRESENTATION - 4

Q1 2022 Automotive and Industrial

Revenue of $78 million marks a 23% increase vs. Q1-2021 and new

segment record

70% of revenue from industrial sources, with the remaining 30% coming from automotive end markets

Industrial demand offsetting automotive production

impacts from supply chain shortages, COVID-19lock-downs in China and Russia/Ukraine conflict

Bookings exceed sales to deliver new record backlog

Q1'22 EARNINGS RELEASE PRESENTATION - 5