Mayville Engineering Company, Inc. (NYSE:MEC) Q1 2020 Earnings Conference Call May 6, 2020 10:00 AM ET Company Participants Nathan Elwell – Investor Relations Bob Kamphuis – Chairman, President and Chief Executive Officer Todd Butz – Chief Financial Officer Ryan Raber – EVP-Strategy, Sales and Marketing Conference Call Participants Joe Grabowski – R.W. Baird Stephen Volkmann – Jefferies Jon Braatz – Kansas City Capital James Maxwell – Tocqueville Operator Good day, and welcome to Mayville Engineering Compan ...

Financial Performance - Net sales for the three months ended March 31, 2020, were $108,605, a decrease of $35,127 or 24.4% compared to $143,732 for the same period in 2019, primarily due to market demand changes and COVID-19 related plant shutdowns [119] - EBITDA for the three months ended March 31, 2020, was $9,847, a decline of $3,863 or 28.2% from $13,710 in the same period of 2019 [119] - Adjusted EBITDA was $11,429 for the three months ended March 31, 2020, down $5,359 or 31.9% from $16,788 in the prior year [119] - The company experienced a net income of $50 for the three months ended March 31, 2020, a significant decrease of $2,409 or 98.0% from $2,459 in the prior year [119] - Net income and comprehensive income fell to $50 for the three months ended March 31, 2020, down $2,409 from $2,459 for the same period in 2019 [131] Margins and Expenses - Manufacturing margins decreased to $11,843 for the three months ended March 31, 2020, down $7,736 or 39.5% from $19,579 in the prior year, driven by lower sales volumes and approximately $900 of inventory obsolescence related to COVID-19 [120] - Manufacturing margin percentage was 10.9% for the three months ended March 31, 2020, a decline of 270 basis points from 13.6% in the same period of 2019 [122] - Other selling, general and administrative expenses decreased to $5,599 for the three months ended March 31, 2020, down $1,124 or 16.7% from $6,723 in the prior year [127] - Profit sharing, bonuses, and deferred compensation expenses were $1,325 for the three months ended March 31, 2020, a decrease of $425 or 24.3% compared to $1,750 in the same period of 2019 [124] - Employee stock ownership plan expense was $675 for the three months ended March 31, 2020, down $825 or 55.0% from $1,500 in the prior year, primarily due to a decrease in headcount [126] Cash Flow and Financing - Cash provided by operating activities increased by $4,133, or 275.5%, to $2,633 for the three months ended March 31, 2020, compared to cash used in operating activities of $1,500 for the same period in 2019 [134] - Cash used in investing activities decreased by $5,870, or 72.1%, to $2,272 for the three months ended March 31, 2020, compared to $8,142 for the same period in 2019 [135] - Cash provided by financing activities increased by $6,059, or 92.1%, to $12,639 for the three months ended March 31, 2020, compared to $6,580 for the same period in 2019 [136] - As of March 31, 2020, the company had $112.2 million available under the Revolving Loan and an additional $100,000 through an accordion feature under the A&R Credit Agreement [147] Capital Expenditures and Ratios - Capital expenditures for the full year 2020 are expected to be approximately $12,000 to $15,000, with a greater adverse impact from COVID-19 expected to push the company closer to the lower end of this range [146] - The company maintained an interest coverage ratio of 9.21 to 1.00 and a consolidated total leverage ratio of 1.84 to 1.00 as of March 31, 2020 [142] Interest Expense - Interest expense decreased to $826 for the three months ended March 31, 2020, down $2,006 or 70.8% from $2,832 in the same period of 2019 [119] - Interest expense decreased by $2,006, or 70.8%, to $826 for the three months ended March 31, 2020, compared to $2,832 for the same period in 2019 [129]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38894 Mayville Engineering Company, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule ...

Mayville Engineering Company, Inc. (NYSE:MEC) Q4 2019 Earnings Conference Call February 27, 2020 10:00 AM ET Company Participants Nathan Elwell - Lincoln Churchill Advisors, Investor Relations Bob Kamphuis - Chairman, President and Chief Executive Officer Todd Butz - Chief Financial Officer Ryan Raber - Executive Vice President of Strategy, Sales and Marketing Conference Call Participants Stephen Volkmann - Jefferies Mig Dobre - Baird Andrew Kaplowitz - Citi Larry De Maria - William Blair Steven Fisher - UB ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38894 Mayville Engineering Company, Inc. (Exact Name of Registrant as Specified in its Charter) Wisconsin 39-0944729 ( State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38894 Mayville Engineering Company, Inc. (Exact Name of Registrant as Specified in its Charter) Wisconsin 39-094 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-38894 Mayville Engineering Company, Inc. (Exact Name of Registrant as Specified in its ...