Caesarstone Ltd. (NASDAQ:CSTE) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET Company Participants Brad Cray - IR Yuval Dagim - CEO Nahum Trost - CFO Conference Call Participants Stanley Elliott - Stifel Reuben Garner - The Benchmark Company Operator Hello, and welcome to the Caesarstone Ltd. Third Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note, today's event is being recorded. I now would like to turn the call over to Brad Cray, Investor Relations. Mr. Cray, please ...

Caesarstone Third Quarter 2022 Financial Results [Management Commentary](index=1&type=section&id=Management%20Commentary) Record constant currency revenue growth was achieved, but strong U.S. dollar and softening markets led to cost and production adjustments - The company achieved its **7th consecutive quarter of double-digit revenue growth** on a constant currency basis, driven by its strategy to become a leading premium, multi-material countertop company[3](index=3&type=chunk) - Key challenges impacting performance include **significant foreign exchange headwinds** from a strong U.S. dollar and **softening volumes** due to a challenging macroeconomic environment, particularly in the U.S.[4](index=4&type=chunk) - In response to market conditions, the company is implementing **pricing actions** to mitigate cost inflation and taking measures to **align production and inventory levels** to reduce costs[3](index=3&type=chunk)[4](index=4&type=chunk) [Q3 2022 Financial Performance](index=1&type=section&id=Q3%202022%20Financial%20Performance) Caesarstone achieved record revenue of **$180.7 million**, up **10.6%** (14.9% constant currency), but gross margin declined to **23.0%** due to currency and higher costs, resulting in a **net loss of $0.5 million** [Key Financial Results](index=1&type=section&id=Key%20Financial%20Results) Q3 2022 vs Q3 2021 Key Financial Metrics | Metric | Q3 2022 | Q3 2021 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | $180.7M | $163.3M | +10.6% | | **Revenue (Constant Currency)** | - | - | +14.9% | | **Gross Margin** | 23.0% | 26.2% | -320 bps | | **Adjusted Gross Margin** | 23.1% | 26.3% | -320 bps | | **Operating Income** | $3.2M | $8.9M | -64.3% | | **Adjusted EBITDA** | $13.4M | $17.7M | -24.3% | | **Adjusted EBITDA Margin** | 7.4% | 10.8% | -340 bps | | **Net Loss Attributable to Controlling Interest** | ($0.5M) | $5.9M | - | | **Diluted EPS** | ($0.02) | $0.17 | - | | **Adjusted Diluted EPS** | $0.01 | $0.20 | -95.0% | [Geographic Revenue Analysis](index=10&type=section&id=Geographic%20Revenue%20Analysis) Q3 2022 Revenue by Region (USD in thousands) | Region | Q3 2022 Revenue | Q3 2021 Revenue | YoY Growth | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | USA | $87,623 | $79,065 | 10.8% | 10.8% | | Canada | $23,607 | $22,479 | 5.0% | 8.7% | | Australia | $31,204 | $29,215 | 6.8% | 14.6% | | EMEA | $17,004 | $14,106 | 20.5% | 41.1% | | Israel | $10,985 | $9,759 | 12.6% | 16.5% | | **Total** | **$180,727** | **$163,341** | **10.6%** | **14.9%** | [Balance Sheet & Liquidity](index=2&type=section&id=Balance%20Sheet%20%26%20Liquidity) As of September 30, 2022, the company maintained a solid liquidity position with **$66.2 million** in cash and equivalents against **$34.5 million** in total debt Key Balance Sheet Items (as of Sep 30, 2022) | Item | Amount (USD) | | :--- | :--- | | Cash, cash equivalents, and marketable securities | $66.2 million | | Total debt to financial institutions | $34.5 million | [Dividend](index=2&type=section&id=Dividend) No dividend will be paid for Q3 2022 due to the reported net loss, in accordance with the company's dividend policy - No dividend will be paid for **Q3 2022**[13](index=13&type=chunk) - The decision is based on the company's dividend policy and the reported **net loss attributable to controlling interest** for the quarter[13](index=13&type=chunk) [Outlook](index=2&type=section&id=Outlook) The company revised its full-year 2022 outlook downwards, projecting revenue between **$690 million** and **$700 million** and an Adjusted EBITDA margin of **8.0% to 8.5%**, due to currency and economic conditions Revised Full Year 2022 Guidance | Metric | Previous Guidance | Revised Guidance | | :--- | :--- | :--- | | **Revenue** | $710M - $725M | $690M - $700M | | **Adjusted EBITDA Margin** | Not specified (10.6% in 2021) | ~8.0% - 8.5% | - The guidance reduction is predominantly attributed to **unfavorable foreign currency exchange rates**, **moderated volume expectations** from softening economic conditions, and **higher shipping and logistics costs**[14](index=14&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Caesarstone Ltd. and its subsidiaries, including balance sheets, income statements, and cash flow statements [Condensed consolidated balance sheets](index=5&type=section&id=Condensed%20consolidated%20balance%20sheets) Balance Sheet Summary (USD in thousands) | Account | Sep 30, 2022 (Unaudited) | Dec 31, 2021 (Audited) | | :--- | :--- | :--- | | **Total Current Assets** | $435,027 | $408,526 | | **Total Assets** | $853,379 | $867,653 | | **Total Current Liabilities** | $191,843 | $183,294 | | **Total Liabilities** | $352,476 | $365,489 | | **Total Equity** | $492,925 | $494,295 | [Condensed consolidated statements of income](index=7&type=section&id=Condensed%20consolidated%20statements%20of%20income) Income Statement Summary - Three Months Ended Sep 30 (USD in thousands) | Account | 2022 (Unaudited) | 2021 | | :--- | :--- | :--- | | **Revenues** | $180,727 | $163,341 | | **Gross Profit** | $41,617 | $42,734 | | **Operating Income** | $3,155 | $8,876 | | **Net Income (Loss)** | ($364) | $5,870 | | **Net Income (Loss) Attributable to Controlling Interest** | ($463) | $5,948 | [Selected Condensed consolidated statements of cash flows](index=8&type=section&id=Selected%20Condensed%20consolidated%20statements%20of%20cash%20flows) Cash Flow Summary - Nine Months Ended Sep 30 (USD in thousands) | Account | 2022 (Unaudited) | 2021 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | ($24,292) | $21,445 | | **Net cash used in investing activities** | ($2,765) | ($30,840) | | **Net cash provided by (used in) financing activities** | $12,463 | ($19,311) | | **Decrease in cash and cash equivalents** | ($15,755) | ($29,198) | | **Cash and cash equivalents at end of period** | $58,560 | $85,050 | [Reconciliation of GAAP to Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) This section reconciles GAAP to non-GAAP financial measures, adjusting for non-recurring items to present Adjusted Gross Profit, Adjusted EBITDA, and Adjusted Net Income, reflecting core operating performance Q3 2022 Reconciliation of Net Income to Adjusted EBITDA (USD in thousands) | Line Item | Amount | | :--- | :--- | | Net loss | ($364) | | Finance expenses, net | $4,307 | | Taxes on income | ($788) | | Depreciation and amortization | $9,200 | | Legal settlements and loss contingencies, net | $602 | | Share-based compensation expense | $375 | | Other adjustments | $57 | | **Adjusted EBITDA (Non-GAAP)** | **$13,389** | Q3 2022 Reconciliation of Net Income to Adjusted Net Income (USD in thousands) | Line Item | Amount | | :--- | :--- | | Net loss attributable to controlling interest | ($463) | | Total adjustments after tax | $476 | | **Adjusted net income attributable to controlling interest (Non-GAAP)** | **$13** |

Caesarstone Ltd. (NASDAQ:CSTE) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET Company Participants Brad Cray - Investor Relations Yuval Dagim - Chief Executive Officer Nahum Trost - Chief Financial Officer Conference Call Participants Thomas Henry - The Benchmark Company Operator Greetings. Welcome to the Caesarstone Second Quarter 2022 Earnings Call. At this time, all participants are in listen-only mode. Brief question-and-answer session will follow the formal presentation. [Operator Instructi ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Caesarstone reported record Q2 revenue of **$180.3 million**, a **10.3% YoY increase**, with **$11.1 million** net income and **$0.20** adjusted EPS Q2 2022 Key Financial Metrics | Metric | Value | | :--- | :--- | | Revenue | $180.3 Million | | Revenue Growth (YoY) | 10.3% | | Revenue Growth (Constant Currency) | 13.7% | | Net Income (Controlling Interest) | $11.1 Million | | EPS | $0.32 | | Adjusted EPS | $0.20 | | Adjusted EBITDA | $17.1 Million | | Dividend per Share | $0.25 | - In July 2022, the company acquired a leading distributor in Sweden with annual revenues of approximately **$4 million**, establishing its first direct go-to-market presence in the E.U[2](index=2&type=chunk)[3](index=3&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) CEO highlighted **sixth consecutive quarter of double-digit revenue growth**, driven by US market strength and effective pricing strategies - Achieved the **6th consecutive quarter** of double-digit year-over-year revenue growth[3](index=3&type=chunk) - Implemented successful pricing actions to mitigate increasing costs of raw materials and shipping, leading to improved sequential margins[3](index=3&type=chunk) - The company's business in key markets is estimated to be **60% to 70%** tied to the historically resilient repair and remodel end market[3](index=3&type=chunk) [Detailed Financial Performance](index=1&type=section&id=Detailed%20Financial%20Performance) Record Q2 revenue of **$180.3 million** was achieved, though gross margin declined to **26.4%** due to costs, while net income rose to **$11.1 million** [Revenue Analysis](index=1&type=section&id=Revenue%20Analysis) Q2 revenue grew **10.3%** to **$180.3 million**, with strong **19.0%** growth in Americas, particularly the USA Q2 2022 Revenue Performance | Metric | Q2 2022 | Q2 2021 | YoY Growth | Constant Currency Growth | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $180.3M | $163.5M | 10.3% | 13.7% | Q2 2022 Revenue by Region (USD in thousands) | Region | Q2 2022 | Q2 2021 | YoY % Change | YoY % Change (CCB) | | :--- | :--- | :--- | :--- | :--- | | USA | $93,039 | $77,844 | 19.5% | 19.5% | | Canada | $25,363 | $21,946 | 15.6% | 20.0% | | Australia | $30,195 | $31,597 | -4.4% | 3.1% | | EMEA | $15,827 | $15,852 | -0.2% | 11.7% | | Israel | $6,419 | $8,112 | -20.9% | -19.6% | [Profitability Analysis](index=1&type=section&id=Profitability%20Analysis) Gross margin declined to **26.4%** due to costs, while operating income increased to **$6.4 million**, and net income surged to **$11.1 million** - Gross margin declined to **26.4%** from **28.0%** year-over-year, mainly due to higher shipping and raw material costs, partially offset by price increases and favorable product mix[5](index=5&type=chunk) Q2 Profitability Metrics (USD in millions) | Metric | Q2 2022 | Q2 2021 | | :--- | :--- | :--- | | Operating Income | $6.4 | $5.2 | | Adjusted EBITDA | $17.1 | $18.8 | | Adjusted EBITDA Margin | 9.5% | 11.5% | | Net Income (Controlling Interest) | $11.1 | $1.7 | | Adjusted Diluted EPS | $0.20 | $0.21 | - Finance income was **$6.4 million** in Q2 2022, compared to a finance expense of **$3.1 million** in Q2 2021, primarily due to favorable foreign currency exchange rate fluctuations[9](index=9&type=chunk) [Balance Sheet & Liquidity](index=2&type=section&id=Balance%20Sheet%20%26%20Liquidity) The company maintained a strong balance sheet with **$62.2 million** in cash and **$18.0 million** in total debt Liquidity Position as of June 30, 2022 | Item | Amount (USD in millions) | | :--- | :--- | | Cash, cash equivalents, and marketable securities | $62.2 | | Total debt to financial institutions | $18.0 | [Dividend](index=2&type=section&id=Dividend) A cash dividend of **$0.25 per share** was declared for Q2 2022, payable on September 7, 2022 - A cash dividend of **$0.25 per share** was declared for Q2 2022[12](index=12&type=chunk) - The dividend will be paid on September 7, 2022, to shareholders of record as of August 17, 2022[12](index=12&type=chunk) [Full Year 2022 Outlook](index=2&type=section&id=Full%20Year%202022%20Outlook) Full-year 2022 guidance projects revenue between **$710 million** and **$725 million**, with Adjusted EBITDA margin similar to 2021 Full Year 2022 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $710 million - $725 million | | Adjusted EBITDA as % of Sales | Similar to 2021 | - Revenue growth is expected to be driven by volume and price improvements[13](index=13&type=chunk) - The company anticipates higher sales and selling prices will offset increased costs for raw materials (like polyester) and shipping[13](index=13&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) Detailed financial statements present the company's position and performance, including balance sheet, income, and cash flow statements [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$872.8 million** driven by inventories, while total liabilities decreased and equity rose to **$507.2 million** Balance Sheet Summary (USD in thousands) | Account | June 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $53,483 | $74,315 | | Inventories | $252,112 | $204,725 | | Total Assets | $872,803 | $867,653 | | Total Current Liabilities | $190,646 | $183,294 | | Total Liabilities | $357,602 | $365,489 | | Total Equity | $507,218 | $494,295 | [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 revenues rose to **$180.3 million**, with operating income at **$6.4 million**, and net income surging to **$11.1 million** or **$0.32** diluted EPS Income Statement Summary - Three Months Ended June 30 (USD in thousands) | Account | 2022 | 2021 | | :--- | :--- | :--- | | Revenues | $180,272 | $163,462 | | Gross Profit | $47,525 | $45,784 | | Operating Income | $6,356 | $5,173 | | Net Income (Controlling Interest) | $11,147 | $1,705 | | Diluted EPS | $0.32 | $0.05 | [Selected Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Selected%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$27.8 million**, a shift from prior year, with cash and equivalents decreasing by **$20.8 million** Cash Flow Summary - Six Months Ended June 30 (USD in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash from operating activities | ($27,751) | $23,088 | | Net cash from investing activities | $2,331 | ($17,215) | | Net cash from financing activities | $5,104 | ($18,867) | | Decrease in cash and cash equivalents | ($20,832) | ($12,960) | [Non-GAAP Reconciliations](index=8&type=section&id=Non-GAAP%20Reconciliations) Non-GAAP reconciliations show Adjusted EBITDA of **$17.1 million** and Adjusted Net Income of **$6.8 million** or **$0.20** diluted EPS Reconciliation of Net Income to Adjusted EBITDA (Q2 2022, USD in thousands) | Description | Amount | | :--- | :--- | | Net income | $11,230 | | Finance income, net | ($6,445) | | Taxes on income | $1,571 | | Depreciation and amortization | $8,823 | | Legal settlements and loss contingencies, net | $1,334 | | Other adjustments | $560 | | **Adjusted EBITDA (Non-GAAP)** | **$17,073** | Reconciliation of Net Income to Adjusted Net Income (Q2 2022, USD in thousands) | Description | Amount | | :--- | :--- | | Net income attributable to controlling interest | $11,147 | | Adjustments (Legal, Share-based comp, etc.) | $1,894 | | Exchange rate differences on lease revaluation | ($7,478) | | Tax effect of adjustments | ($4,396) | | **Adjusted net income (Non-GAAP)** | **$6,751** | | **Adjusted diluted EPS (Non-GAAP)** | **$0.20** |

Bunnings LIFE IN STONE Caesarstone Investor Presentation 2022 May 2022 DISCLAIMER Information provided in this presentation may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to the Company's plans, objectives and expectations for future operations, including estimations relating to the impact of the C ...

Financial Data and Key Metrics Changes - The company achieved record first quarter revenue of $170 million, representing an 18.5% year-over-year increase on a constant currency basis [5][12] - Gross margin for the quarter was 25.3%, with adjusted gross margin at 25.4%, down from 30.1% in the prior year, primarily due to higher shipping and raw material costs [15][16] - Adjusted EBITDA was $15.7 million, with a margin of 9.2%, compared to $20.3 million or 13.9% in the prior year [17] Business Line Data and Key Metrics Changes - The Americas saw constant currency sales increase of 22.7%, with U.S. sales up 20.3% and Canadian sales up 33.5% year-over-year [13] - The APAC region experienced a 6.2% increase in constant currency sales, while the EMEA region grew by 26.4%, driven by strong performance in the UK [14] Market Data and Key Metrics Changes - Sales in Israel increased by 12.9% on a constant currency basis, reflecting solid core business performance [14] - The company reported strong sales recovery in the big box channel, particularly with IKEA, which saw sales more than doubling year-over-year in Canada [7][13] Company Strategy and Development Direction - The company is focused on transforming into a leading premium multi-material countertop company, with plans to introduce new multi-material product offerings in 2022 [5][8] - The strategic initiatives include expanding the digital platform CS Connect and capturing a growing share of demand in end markets [6][8] - The long-term goal is to become a $1 billion global countertop player by 2025, leveraging technological transformation and premium brand recognition [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand for products, expecting this trend to continue throughout the year [33] - The company is closely monitoring the volatile global supply chain environment and is implementing pricing actions to mitigate rising costs [10][22] - The outlook for 2022 revenue is reiterated at $710 million to $725 million, implying approximately 11% growth over 2021 [19] Other Important Information - The balance sheet as of March 31, 2022, showed cash and equivalents of $64.2 million, with a solid net cash position of $52.4 million [18] - The company plans to use cash primarily for growth initiatives and potential M&A opportunities [38][39] Q&A Session Summary Question: Magnitude of price increases in Q1 and Q2 - Management indicated that the revenue increase in Q1 was a combination of price increases and volume growth, approximately 50-50 [25][27] Question: Manufacturing footprint and cost comparisons - The company noted that its global manufacturing footprint is currently servicing well, with a focus on utilizing U.S. facilities more due to shipping costs [29] Question: Commentary on the big box channel - Management highlighted increased revenue and activity with IKEA and improved partnership with Lowe's, indicating successful execution of the big box strategy [30] Question: Volume outlook and cautious stance - Management reported strong demand for products and expects this to continue, particularly with new product launches [33] Question: Strategy in the U.S. market - The U.S. market is a key focus, with efforts to penetrate the remodeling sector and enhance the digital platform [36] Question: Share repurchases and cash usage - The primary use of cash is for growth and potential M&A, with no current plans for share repurchases [38][39]

Ocaesarstone® Exhibit 99.1 Caesarstone Reports First Quarter 2022 Financial Results – Record First Quarter Revenue up 16.7% to $170.4 Million; up 18.5% on a Constant Currency Basis – – Net Income attributable to Controlling Interest of $6.2 Million, or $0.18 Per Share – – Adjusted EPS of $0.14 – – Adjusted EBITDA of $15.7 Million – – Reiterates Full Year 2022 Outlook – MP MENASHE, Israel – May 11, 2022 - Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surface ...

Financial Performance and Costs - In 2021, 50.0% of the company's revenues were denominated in U.S. dollars, with significant portions in Australian dollars (18.4%) and Canadian dollars (13.1%) [21] - The average cost of quartz increased by 12.0% in 2021, following a 3.2% increase in 2020, impacting gross profit margins [26] - Polyester costs rose by approximately 54% in 2021, which could lead to a decrease of about 1% in gross profit margin if prices increase by 10% [27] - Raw materials accounted for approximately 29% of the cost of goods sold in 2021, with quartz making up about 33.8% of raw materials costs [26] - Rising costs of raw materials and shipping could materially and adversely affect the company's financial condition if these costs cannot be passed on to customers [22] - The company has significant intangible assets, with goodwill amounting to $45.8 million and other intangible assets totaling $9.6 million as of December 31, 2021 [29] - The company has approximately $3.8 million in unrecognized tax benefits as of December 31, 2021 [61] - The company is subject to various international operational risks, including fluctuations in exchange rates and compliance with foreign regulations [58] - The company is exposed to potential tax liabilities due to uncertainties in tax determinations and inter-company arrangements [61] Supply Chain and Operational Challenges - The company experienced disruptions in its supply chain during 2021, which are expected to continue into 2022, affecting the availability of essential raw materials [25] - The company faces challenges in managing its production and supply chain, which could lead to inefficiencies and hinder product availability [30] - The company’s operations are subject to disruptions from various factors, including COVID-19-related supply chain difficulties, which could adversely affect business performance [30] - Disruptions in the supply chain due to geopolitical tensions, such as those between Turkey and Israel, could adversely impact the company's ability to enforce supply contracts [37] - Labor disputes could result in work stoppages, impacting product output and contractual obligations, which may adversely affect financial results [87] Market and Competitive Landscape - The company faces intense competition from manufacturers of alternative surface materials, which could adversely impact its market share and financial results [28] - The company aims to expand its product offerings and grow its business in response to customer demands and competitive pressures, particularly through acquisitions like Lioli and Omicron [29] - The engineered quartz surfaces represented 20% of the total countertops by volume installed in the U.S. in 2020, indicating a significant market opportunity [33] - The company’s revenues are significantly concentrated geographically, with the four largest markets accounting for 85.1% of total revenues in 2021, specifically the U.S. (47.4%), Australia (18.4%), Canada (13.1%), and Israel (6.1%) [39] - The company faces potential legal exposure related to silicosis claims, with an estimated total net exposure of approximately $36.2 million after accounting for product liability insurance coverage [44] Regulatory and Compliance Issues - Increased media coverage regarding the hazards of exposure to respirable crystalline silica (RCS) may adversely affect consumer preferences and lead to a material decline in revenues [45] - Regulatory changes in Australia, including a new code of practice for managing RCS exposure, may disrupt the market and impose additional compliance costs on the company [46] - The Australian federal government established a national dust disease taskforce in July 2019, which may lead to further regulatory scrutiny and potential market disruptions [46] - The company faces compliance risks related to environmental and health regulations, which may result in increased costs and operational disruptions [49] - The company may incur additional expenses to comply with new regulations regarding RCS exposure, which could negatively impact financial results [47] Employee and Labor Dynamics - High turnover rates of key employees at acquired companies like Lioli could result in operational delays and negatively impact financial results [29] - The company has experienced a significant increase in employee turnover during 2021, complicating recruitment and retention efforts post-COVID-19 [96] - Labor shortages and increased turnover have led to higher employee-related costs, impacting profitability and operational efficiency [98] - The competitive market for qualified personnel has made it challenging for the company to attract and retain skilled employees, affecting business operations [97] - Increased labor costs due to shortages and turnover could materially affect the company's operations, results, liquidity, and cash flows [98] Strategic Initiatives and Growth Plans - The company is increasing its distribution network in the United States, particularly in the South, Southeast, and Ohio Valley markets, following the Omicron Acquisition [33] - The company is accelerating its strategy to acquire basic product models from third-party OEMs, primarily from China, Spain, and Italy, to optimize production capabilities [32] - The company has commenced manufacturing and sales of porcelain products, including porcelain slabs and countertops, following the Lioli Acquisition, which may face adverse tariffs impacting sales into the EEU [37] - Future acquisitions may require substantial cash usage or incur significant debt, impacting business operations and share price if perceived as overpayment [96] - Integration of acquired businesses may be difficult, costly, and time-consuming, potentially disrupting ongoing operations and management focus [96] Shareholder and Corporate Governance - As of March 11, 2022, Kibbutz Sdot-Yam and Tene beneficially owned 14,029,494 shares, constituting approximately 40.7% of the company's shares [65] - The concentration of share ownership may limit the ability of other shareholders to influence corporate matters, potentially affecting share price [77] - Future sales of ordinary shares by major shareholders could negatively impact the market price of the company’s shares [82] - The company cannot assure the amount or timing of future dividend payments and may decide not to pay dividends [73] - The company revised its dividend policy in February 2020 to provide for a quarterly cash dividend of up to 50% of reported net income attributable to controlling interest [73]

Caesarstone Investor Presentation 2021 February 2022 LIFE IN STONE DISCLAIMER 2 Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to the Company's plans, objectives and expectations for future operations, including estimations relating to the impact of the CO ...

Caesarstone Ltd. (NASDAQ:CSTE) Q4 2021 Earnings Conference Call February 9, 2022 8:30 AM ET Company Participants Yuval Dagim – Chief Executive Officer Brad Cray – Investor Relations Nahum Trost – Chief Financial Officer Conference Call Participants Thomas Henry – The Benchmark Company Stanley Elliott – Stifel Operator Greetings and welcome to Caesarstone Limited Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow t ...