Part II - Other Information • exposure to product liability, construction defect and warranty claims and other litigation and legal proceedings; The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. | --- | --- | --- | --- | --- | |--------|--------|--------|--------|----------------------| | | | | | | | | | | | Additional Paid In | | Shares | Amount | Shares | Amount | Capital | Shareholder Ownership 3) REVENUE | --- | --- | --- | |--------------------- ...

Fiscal 2023 First Quarter Results JUNE 6, 2023 This presentation and accompanying discussion may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, all statements other than statements of historical or current facts relating to our intentions, beliefs, assumptions or current expectations concerning, among other things, our future results of operations and financial position, business strateg ...

Core & Main, Inc. (NYSE:CNM) Q1 2023 Earnings Conference Call June 6, 2023 8:30 AM ET Company Participants Robyn Bradbury - Vice President, Finance, and Investor Relations Steve LeClair - Chief Executive Officer Mark Witkowski - Chief Financial Officer Conference Call Participants Kathryn Thompson - Thompson Research Group Michael Dahl - RBC Capital Market Joe Ritchie - Goldman Sachs Asher Sohnen - Citigroup David Ridley-Lane - Bank of America Operator Good morning everyone and welcome to the Core & Main Fi ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Core & Main, Inc. (Exact name of registrant as specified in its charter) Delaware 86-3149194 CD&R af iliates UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40650 (State or other j ...

Core & Main, Inc. (NYSE:CNM) Q4 2022 Earnings Conference Call March 28, 2023 8:30 AM ET Company Participants Robyn Bradbury - Vice President, Finance, and Investor Relations Steve LeClair - Chief Executive Officer Mark Witkowski - Chief Financial Officer Conference Call Participants Jamie Cook - Credit Suisse Kathryn Thompson - Thompson Research Mike Dahl - RBC Capital Markets Dave Manthey - Baird Nigel Coe - Wolfe Research Vivek Srivastava - Goldman Sachs Asher Sohnen - Citi Elizabeth Langan - Barclays Pat ...

8 Attractive financial profile with efficient operating model © Core & Main All Rights Reserved. Confidential and Proprietary Information. 18 OUR APPROACH TO M&A | --- | --- | --- | --- | --- | --- | --- | --- | |-------------|-------------|--------------|---------------|-----------------------------------------|------------|------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Market Overview - Core & Main estimates its addressable market for water, wastewater, storm drainage, and fire protection products in the U.S. to be approximately $40 billion in annual sales for fiscal 2022[55]. - The company estimates that its net sales represented approximately 17% of the $40 billion addressable market in fiscal 2022[83]. - Approximately 39% of the company's net sales in fiscal 2022 were related to the municipal market, highlighting its dependence on municipal infrastructure spending[131]. Sales Breakdown - For fiscal 2022, approximately 39% of net sales were derived from the municipal construction sector, 39% from non-residential construction, and 22% from residential construction[1]. - Approximately 22% and 39% of the company's net sales in fiscal 2022 were directly related to the U.S. residential and non-residential construction markets, respectively[97]. - The company estimates that around 39% of its net sales in fiscal 2022 were linked to clean water and wastewater infrastructure, storm drainage, and fire protection systems supporting U.S. non-residential construction activity[102]. Product Categories - Pipes, valves, and fittings accounted for approximately 68% of net sales in fiscal 2022[79]. - Storm drainage products accounted for approximately 14% of net sales, while fire protection products accounted for about 11% of net sales in fiscal 2022[110][111]. - The company’s products include smart meter systems and fusible HDPE piping solutions, enhancing its offerings in the infrastructure sector[246]. Growth Strategy - The company plans to replicate successful expansion in underpenetrated geographies to drive future growth[58]. - Core & Main's strategic accounts program, which focuses on large-scale projects, represented less than 5% of fiscal 2022 net sales, indicating potential for growth in this area[76]. - The company utilizes its geographic footprint and customer relationships to introduce new products and technology, targeting underpenetrated product categories for growth[107]. Operational Efficiency - The company aims to enhance margins through pricing analytics and optimization of system-wide pricing, which could lead to long-term margin expansion[60]. - Gross margin improved by approximately 290 basis points from fiscal 2020 to fiscal 2022, driven by private label product expansion and category management optimization[105]. - The company is expanding its direct sourcing and distribution capabilities to drive further margin expansion in the future[105]. Customer Base - The company has a fragmented customer base of approximately 60,000 customers, with the top 50 customers representing about 12% of net sales in fiscal 2022[113]. - The company has a branch network that connects large suppliers with smaller volume customers, with each branch carrying approximately 4,500 SKUs on average[118]. Workforce - As of January 29, 2023, the company employed approximately 4,500 associates, including 1,700 in sales positions and 250 in branch management[121]. - The sales force includes approximately 550 field sales representatives with an average of over 13 years of experience in relevant industries[120]. - The company focuses on attracting and retaining talent through competitive compensation and training programs, contributing to low turnover rates[122]. Financial Risks - The company is subject to inventory management risks, which can impact sales opportunities and gross margins[133]. - The company faces competitive pressures in a fragmented market, with only one major national competitor and various regional and local competitors[134]. - Approximately 98% of the company's net sales volume in fiscal 2022 was facilitated through credit sales to customers whose ability to pay is dependent on economic strength[138]. Supply Chain and Regulatory Challenges - Supply chain constraints have led to increased pressure on the company's operations, resulting in significant inflation throughout fiscal 2022[141]. - Regulatory changes could increase the company's costs and impact its operations, particularly in relation to environmental and safety regulations[143]. - The company is dependent on third-party freight carriers, and a shortage of qualified drivers could impact product delivery and operational efficiency[170]. Debt and Financing - As of January 29, 2023, total consolidated indebtedness was $1,478 million, with $198 million in outstanding lease commitments[188]. - The company had the ability to borrow $1,238 million under the Senior ABL Credit Facility, subject to borrowing base availability[188]. - A one percentage point increase in interest rates would result in an approximately $27 million increase in annual interest expense on the Senior ABL Credit Facility and the Senior Term Loan Facility[190]. Corporate Governance and Ownership - CD&R Investors beneficially own approximately 65.4% of the combined voting power of the company's common stock, allowing them to control significant corporate actions[203]. - The company is classified as a "controlled company," with CD&R Investors holding a majority of the voting power, which allows it to rely on exemptions from certain corporate governance requirements[237]. - The company’s Certificate of Incorporation includes anti-takeover provisions that may discourage changes in management or control, potentially affecting the market price of its Class A common stock[235]. Stock and Market Performance - The market price of Class A common stock may be volatile and could decline, affecting liquidity and trading[228]. - Future sales of shares by the company or existing stockholders could lead to a decline in stock price[230]. - The company currently does not have an approved plan to pay dividends on its Class A common stock, intending to use future earnings for debt repayment and business development[206].

Core & Main, Inc. (NYSE:CNM) Q3 2022 Earnings Conference Call December 13, 2022 8:30 AM ET Company Participants Robyn Bradbury - Vice President, Finance and Investor Relations Steve LeClair - Chief Executive Officer Mark Witkowski - Chief Financial Officer Conference Call Participants Matthew Bouley - Barclays David Manthey - Baird Kathryn Thompson - Thompson Research Group Mike Dahl - RBC Capital Markets Keith Hughes - Truist Securities Vivek Srivastava - Goldman Sachs Patrick Baumann - JPMorgan David Ridl ...

Fiscal 2022 Third Quarter Results DECEMBER 13, 2022 CAUTIONARY STATEMENTS Cautionary Note Regarding Forward-Looking Statements This presentation and accompanying discussion may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, all statements other than statements of historical facts contained in our accompanying Quarterly Report on Form 10-Q, including statements relating to our intentions, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40650 Core & Main, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...