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University of Washington, NanoES – Seattle © Aaron Leitz Photography; courtesy of ZGF Fiscal 2027 Second Quarter Earnings Call October 2026 Apogee Enterprises, Inc. Nasdaq: APOG
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Non-GAAP Measures & Forward-Looking Statements Q2 FY2027 Earnings | October 2026 Apogee Enterprises, Inc. 2 This presentation contains measures of financial performance that are not defined by U.S. GAAP . We believe that these measures provide useful information and include these measures in other communications to investors. For each of these non-GAAP financial measures, we provide a reconciliation of the differences between the non-GAAP measure and the most directly comparable U.S. GAAP measure. These non-GAAP measures should be viewed in addition to, and not in lieu of, the comparable U.S. GAAP measure. This presentation contains certain statements that are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current views with respect to future events and financial performance. Forward-looking statements generally can be identified by the use of forward- looking terminology such as “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should,” "will," "continue" or similar words or expressions. All forecasts and projections in this presentation are “forward-looking statements,” and are based on management’s current expectations or beliefs of the Company's near-term results, based on current information available pertaining to the Company. From time to time, we may also provide oral and written forward-looking statements in other materials we release to the public, such as press releases, presentations to securities analysts or investors, or other communications by the Company. Any or all of our forward- looking statements in this presentation and in any public statements we make could be materially different from actual results. Accordingly, we wish to caution investors that any forward-looking statements made by or on behalf of the Company are subject to uncertainties and other factors that could cause actual results to differ materially from such statements. These uncertainties and other risk factors include, but are not limited to, the risks and uncertainties set forth under the “Risk Factors” section of our Annual Report on Form 10-K, and in subsequent filings with the U.S. Securities and Exchange Commission. We also wish to caution investors that other factors might in the future prove to be important in affecting the Company’s results of operations. New factors emerge from time to time; it is not possible for management to predict all such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Agenda 3 Brooklyn Health Center, New York Photo courtesy of Terry Wieckert Introductory remarks Don Nolan Chief Executive Officer Financial results and outlook Mark Augdahl Chief Financial Officer Q&A Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026
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• Q2 results exceeded our expectations • All segments grew revenue led by Glass, Services, and Performance Surfaces • Adjusted EBITDA* margin improved through disciplined pricing, productivity improvements, including net benefit from Project Fortify 2, and the accretive impact from the Kalwall acquisition • Returned ~$12 million to shareholders through share repurchases and dividends • Acquired Groglass, adding a differentiated business with strong brands while expanding opportunities for growth Net Sales $391.1M +9.2% YoY Adjusted EBITDA* $49.5M +11.7% YoY 12.7% +30 bps YoY $1.17 +19.4% YoY FY27 Second Quarter Highlights Adjusted diluted EPS* Adjusted EBITDA margin* *Non-GAAP financial measures, see reconciliation table 4Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026
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Q2 FY27 Consolidated Results 5 Commentary • Net Sales – Increase primarily due to contribution from the Kalwall acquisition, price, and favorable mix, partially offset by lower volume • Adjusted EBITDA Margin – Increase was driven by higher price, productivity improvements, benefits from cost savings of Fortify Phase 2, and the accretive impact of the Kalwall acquisition, partially offset by higher material and manufacturing costs and the impacts from lower volume • Adjusted Diluted EPS – Increase due to lower interest expense $ in millions, except EPS Q2 FY27 Q2 FY26 Change Net Sales $391.1 $358.2 +9.2% Adjusted EBITDA* $49.5 $44.4 +11.7% Adjusted EBITDA margin* 12.7% 12.4% +30 bps Adjusted diluted EPS* $1.17 $0.98 +19.4% Apogee Enterprises, Inc. *Non-GAAP financial measures, see reconciliation table Q2 FY2027 Earnings | October 2026
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Segment Results 6 • *Adjusted EBITDA margin is a non-GAAP metric, see reconciliation table • Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. • Intersegment net sales eliminations are presented separately to exclude these sales from our consolidated total. Apogee Enterprises, Inc. Segment Net Sales $M Adjusted EBITDA Margin* Architectural Metals Year-over-year change $143.5 +1.8% 15.4% +60 bps Architectural Services Year-over-year change $108.5 +7.9% 5.8% +80 bps Architectural Glass Year-over-year change $87.4 +21.1% 14.9% (120) bps Performance Surfaces Year-over-year change $55.3 +14.2% 22.5% (70) bps Second Quarter FY27 Q2 FY2027 Earnings | October 2026
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FY27 Cash Flow and Balance Sheet Apogee Enterprises, Inc. 7 Commentary • YTD returned ~$27 million to shareholders • Consolidated Leverage Ratio* of 1.7x (as defined in our credit agreement) • No near-term debt maturities and strong liquidity $ in millions Six Months Ended 08/29/26 Six Months Ended 08/30/25 Cash flow from operations $43.3 $37.3 Capital expenditures ($17.8) ($11.8) Free cash flow* $25.5 $25.5 Share repurchases $16.1 $0.0 Dividends $11.2 $11.0 $ in millions Aug 29, 2026 Feb 28, 2026 Total debt $335.5 $232.3 Cash & equivalents $36.5 $39.5 Net debt* $299.0 $192.8 *Consolidated Leverage Ratio, Free Cash Flow and Net Debt are Non-GAAP Financial Measures. See definitions at the end of this presentation. Note: Totals may not sum precisely due to rounding. Q2 FY2027 Earnings | October 2026
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Groglass Acquisition Apogee Enterprises, Inc. 8Q2 FY2027 Earnings | October 2026 • Leading European provider of high-performance glass, acrylic, and polycarbonate solutions • Adds a differentiated, value-added business with strong brands and expanded coatings capabilities • Enhances the Performance Surfaces portfolio through cross- selling opportunities and European manufacturing presence • Expected to contribute ~$30 million of revenue at ~25% adjusted EBITDA margin* in the first 12 months • Expected to deliver at least $4 million of annualized cost synergies within three years *Non-GAAP financial measures, see reconciliation table
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FY27 Outlook Apogee Enterprises, Inc. 9 Q2 FY2027 Earnings | October 2026
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Raising Full-Year Fiscal 27 Outlook Apogee Enterprises, Inc. 10 **Adjusted effective tax rate is a Non-GAAP Financial Measure. See definitions at the end of this presentation. Previous Guidance • Interest expense of approximately $10 million • Adjusted effective tax rate** of 26% to 27% • CapEx between $35 million to $40 million Adjusted diluted EPS* $2.70 to $3.25 Net sales $1.38B to $1.43B *Non-GAAP metric, see reconciliation table Current Guidance • Kalwall and Groglass modestly accretive to EPS • Interest expense of approximately $15 million • Adjusted effective tax rate** of approximately 26% • CapEx between $35 million to $40 million Adjusted diluted EPS* $3.00 to $3.40 Net sales $1.46B to $1.50B Outlook based on current macroeconomic conditions Q2 FY2027 Earnings | October 2026
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2H Directional Commentary Apogee Enterprises, Inc. 11 • Net sales and adjusted diluted EPS* to be relatively balanced across the third and fourth quarters • Operating cash flow generation strength to continue *Non-GAAP metric, see reconciliation table Q2 FY2027 Earnings | October 2026
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• Q2 results exceeded our expectations • Delivered revenue growth across all segments • Disciplined pricing and productivity drove margin expansion • Acquired Groglass, strengthening our portfolio and expanding our presence in attractive end markets • Raised fiscal 2027 guidance Summary 12 609 Main| Houston, TX Photo credit: Harmon, Inc. Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026
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Q&A Apogee Enterprises, Inc. 13 Q2 FY2027 Earnings | October 2026
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Non-GAAP Financial Measures • Adjusted net earnings, adjusted diluted EPS, and adjusted EBITDA are used by the Company to provide meaningful supplemental information about its operating performance by excluding amounts that are not considered part of core operating results to enhance comparability of results from period to period. • Adjusted EBITDA represents adjusted net earnings before interest, taxes, depreciation, and amortization. The Company believes adjusted EBITDA and adjusted EBITDA margin metrics provide useful information to investors and analysts about the Company’s core operating performance. • Free cash flow is defined as net cash provided by operating activities, minus capital expenditures. The Company considers this measure an indication of its financial strength. However, free cash flow does not fully reflect the Company’s ability to freely deploy generated cash, as it does not reflect, for example, required payments on indebtedness and other fixed obligations. • Net debt is a non-GAAP financial measure which the Company defines as total debt less cash and cash equivalents. • Consolidated Leverage Ratio is calculated as Consolidated Funded Indebtedness minus Unrestricted Cash at the end of the current period, divided by Consolidated EBITDA (calculated as EBITDA plus certain non-cash charges and allowed addbacks, less certain non-cash income, plus the pro forma effect of acquisitions and certain pro forma run-rate cost savings for acquisitions and dispositions, as applicable for the trailing twelve months ended as of the current period). All capitalized and undefined terms used in this bullet are defined in the Company’s credit agreement dated July 19, 2024. The Company is unable to present a quantitative reconciliation of forward-looking expected Consolidated Leverage Ratio to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all the necessary components of such GAAP financial measure without unreasonable effort or expense. In addition, the Company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors. • Adjusted effective tax rate is a non-GAAP financial measure that reflects the tax burden on income after considering all of the specific non-GAAP adjustments. It is defined as income tax expense, less tax on adjusting items, divided by the adjusted earnings before income taxes. • Backlog is defined as the dollar amount of signed contracts or firm orders, generally as a result of a competitive bidding process, which is expected to be recognized as revenue. Backlog is an operating measure used by management to assess future potential sales revenue. It is most meaningful for the Architectural Services segment, due to the longer- term nature of their projects. Backlog is not a term defined under U.S. GAAP and is not a measure of contract profitability. Backlog should not be used as the sole indicator of future revenue because the Company has a substantial number of projects with short lead times that book-and-bill within the same reporting period that are not included in backlog. 14Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026
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Reconciliation of Non-GAAP Financial Measures Apogee Enterprises, Inc. 15 Adjusted net earnings and adjusted diluted earnings per share (Unaudited) Note: Per share amounts are computed independently for each of the items presented so the sum of the items may not equal the total amount. Q2 FY2027 Earnings | October 2026
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16 Reconciliation of Non-GAAP Financial Measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin (Earnings before interest, taxes, depreciation, and amortization) (Unaudited) Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026
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17 Reconciliation of Non-GAAP Financial Measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin (Earnings before interest, taxes, depreciation, and amortization) (Unaudited) Apogee Enterprises, Inc.Q2 FY2027 Earnings | October 2026