Mayville Engineering Company, Inc. · NYSE:MEC
Mayville Engineering — Q3 2026 Earnings Presentation
18 slides from Mayville Engineering's earnings presentation, Nov 3, 2026
Slide 1: Mayville Engineering Company 3Q26 Results Presentation
MAYVILLE ENGINEERING COMPANY 3Q26 RESULTS PRESENTATION NOVEMBER 3, 2026
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT 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
Slide 3: 3Q26 Financial Performance
3Q26 FINANCIAL PERFORMANCE DCP, COMMERCIAL VEHICLE AND CONSTRUCTION & ACCESS DRIVE REVENUE GROWTH Growth across multiple end markets, led by the Datacenter & 3Q26 Performance Highlights Critical Power (DCP) market and recovering Commercial Vehicle & Construction & Access markets, shows the strength
Slide 4: Third Quarter Financial Performance
THIRD QUARTER FINANCIAL PERFORMANCE Net Sales Adj. EBITDA & Margin Adjusted Diluted EPS Free Cash Flow ($MM) ($MM & % of Net Sales) ($/share) ($MM) $170.4 $17.0 $144.3 $0.15 $14.1 $0.10 10.0% 9.8% ($1.1) ($3.3) 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 See the appendix for reconciliations of Adjusted
Slide 5: Near-Term End Market Outlook
NEAR-TERM END MARKET OUTLOOK PRELIMINARY VIEW: DATACENTER DRIVES 2027 GROWTH; REMAINING MARKETS MIXED Commercial Vehicle Datacenter & Critical Power Construction & Access (~30% of TTM Revenue1) (~18% of TTM Revenue1) (~14% of TTM Revenue1) MEC Mid-to-high single-digit growth MEC 50%+ growth MEC Mid
Slide 6: Near-Term End Market Outlook
NEAR-TERM END MARKET OUTLOOK PRELIMINARY VIEW: DATACENTER DRIVES 2027 GROWTH; REMAINING MARKETS MIXED Powersports Agriculture Military Other (~13% of TTM Revenue1) (~6% of TTM Revenue1) (~4% of TTM Revenue1) (~15% of TTM Revenue1) Mid single-digit MEC Down 10% to 20% MEC Down 5% to 15% MEC MEC Flat
Slide 7: 3Q Net Sales & Adj. EBITDA Highlights
3Q NET SALES & ADJ. EBITDA HIGHLIGHTS KEY END MARKETS DRIVE REVENUE GROWTH; VOLUME LIFTS MARGINS DESPITE ONGOING COST PRESSURE DCP and legacy markets drive growth 3Q Net Sales Reconciliation ($s in Millions) DCP net sales grew 64.9% y/y to $37.2 million, adding $14.6 million and rising to 22% of net
Slide 8: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES BALANCED CAPITAL ALLOCATION: GROWTH INVESTMENT, DELEVERAGING, AND BOLT-ON M&A Balanced approach to capital Capital Expenditures allocation ($MM) Targeted growth investments $59 • Demand from Datacenter & Critical Power exceeds current capacity $40 - $50 • Generate high-
Slide 9: Disciplined Capital Management
DISCIPLINED CAPITAL MANAGEMENT IMPROVING LIQUIDITY PROFILE TO SUPPORT LONG TERM GROWTH $143 Total Cash & Available Liquidity1 $30 ($MM) $18 $205 $147 Net Debt $82 ($MM) 3.7x 2.9x Net Leverage 1.3x Ratio2 $54 $74 $48 Net Working Capital3 2024 2025 3Q26 1) Assumes continued compliance with covenants a
Slide 10: 2026 Financial Guidance
2026 FINANCIAL GUIDANCE AS OF NOVEMBER 3, 2026 Business Outlook Financial Assumptions Datacenter & Critical Power acceleration, Commercial Vehicle 2026 projected year-over-year revenue change by end market: recovery and steady Construction & Access demand, offset by softer • Commercial Vehicle: high
Slide 11: Datacenter & Critical Power Opportunity
DATACENTER & CRITICAL POWER OPPORTUNITY DATACENTER & CRITICAL POWER PIPELINE SIGNALS NEAR-TERM TRANSFORMATIONAL OPPORTUNITY Datacenter & Critical Power pipeline exceeds $200MM Historical DCP Programs Awarded ($s in Millions) Pipeline of qualified opportunities continues to remain ~$45 strong, drivin
Slide 12: Investment Thesis
INVESTMENT THESIS DIVERSIFIED PLATFORM POSITIONED FOR CYCLICAL RECOVERY AND DATACENTER-LED GROWTH Strategic Repositioning for Higher-Value Growth Proven framework of operational excellence High cash conversion potential (>50% of Adj. supports improved capacity utilization and EBITDA) to enable de-le
Slide 13: Appendix
APPENDIX
Slide 14: Historical Net Sales by End Market
HISTORICAL NET SALES BY END MARKET ($s in Millions) 1Q 2Q 3Q Commercial Vehicle $ 38.8 $ 50.8 $ 52.8 Datacenter & Critical Power 23.6 29.0 37.2 2026 Construction & Access Powersports 20.1 23.3 23.1 18.5 24.2 16.8 Year-to-Date Agriculture 10.3 9.0 7.3 Military 5.8 6.5 7.2 Other 22.8 26.1 24.8 Total $
Slide 15: Historical Material Price Pass-Through
HISTORICAL MATERIAL PRICE PASS-THROUGH Material Price Pass-Throughs (Y-o-Y Change in $MMs) 1Q 2Q 3Q 4Q Full Year 2024 $ — $ (1.1) $ (0.7) $ (0.2) $ (2.0) 2025 $ (1.9) $ 0.5 $ 1.4 $ 2.5 $ 2.5 2026 $ 2.5 $ 3.1 $ 1.4 $ 7.0 ONE MEC. ONE MISSION. 15
Slide 16: Non-GAAP Reconciliation of Adjusted EBITDA
NON-GAAP RECONCILIATION OF ADJUSTED EBITDA Q3 ($MM) 2026 2025 Net income (loss) and comprehensive income (loss) $ 0.4 $ (2.7) Interest expense 3.0 3.4 Provision (benefit) for income taxes 1.0 (0.7) Depreciation and amortization 11.2 11.1 EBITDA $ 15.6 $ 11.2 Stock-based compensation expense 1.5 0.8
Slide 17: Non-GAAP Reconciliation of Adjusted Net Income & Diluted EPS
NON-GAAP RECONCILIATION OF ADJUSTED NET INCOME & DILUTED EPS Q3 ($MM, except share amounts and per share values) 2026 2025 Net income (loss) and comprehensive income (loss) $ 0.4 $ (2.7) Stock-based compensation expense 1.5 0.8 Natural disaster costs (0.3) 0.0 Acquisition related costs 0.2 0.9 Costs
Slide 18: Non-GAAP Reconciliation of Free Cash Flow
NON-GAAP RECONCILIATION OF FREE CASH FLOW Q3 ($MM) 2026 2025 Net cash provided by operating $ 4.3 $ 1.9 activities Purchase of property, plant and (7.7) (3.0) equipment Free cash flow $ (3.3) $ (1.1) Note: Totals may not sum due to rounding. ONE MEC. ONE MISSION. 18
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