TechPrecision Corporation (NASDAQ:TPCS) Q3 2022 Earnings Conference Call February 17, 2022 4:30 PM ET Company Participants Alex Shen – Chief Executive Officer Tom Sammons – Chief Financial Officer Brett Maas – Hayden Investor Rlations Conference Call Participants Ross Taylor – ARS Investment Partners Aaron Warwick – Breakout Investors Operator Good afternoon, ladies and gentlemen, and welcome to TechPrecision Corporation Fiscal 2022 Third Quarter Financial Results. At this time, all participants have been p ...

Table of Contents 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 December 31, 2021 ☐ 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: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | | 51-0539 ...

Table of Contents 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 September 30, 2021 ☐ 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: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) Indicate by check mar ...

Financial Data and Key Metrics Changes - Preliminary net sales for Q2 FY2022 were $4.8 million, a slight increase from $4.7 million in the same quarter last year [9] - Gross profit margin decreased to 19.4% from 23.9% year-over-year, primarily due to higher labor and overhead costs [9] - The company recorded a net loss of $220,000 in Q2 FY2022 compared to a net income of $271,000 in the same quarter last year [11] - Total debt increased to $7.2 million, up $3.4 million from March 31, 2021 [14] - Cash balance decreased to $281,000 from $2.1 million at March 31, 2021 [15] Business Line Data and Key Metrics Changes - The sales order backlog totaled $26.4 million as of September 30, 2021, including STADCO backlog [7] - The company booked over $13 million in new orders since the end of Q2 [8] Market Data and Key Metrics Changes - The company is focusing on the defense and aerospace industries, with STADCO being a key supplier for major OEMs and prime contractors [17] - STADCO has a long history of supplying critical parts for various military and commercial aircraft programs, including the Sikorsky CH-53 helicopter [19] Company Strategy and Development Direction - The company is in the process of integrating STADCO and expects continued revenue growth from this acquisition [8] - Management emphasized the importance of focusing on existing customers and opportunities rather than diversifying into new segments at this time [82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business prospects post-acquisition and highlighted the strong order backlog as a positive indicator [8][17] - The company is closely monitoring regulatory changes related to COVID-19 vaccination mandates and their potential impact on staffing and production [60][62] Other Important Information - The results presented are preliminary and subject to revision until the company files its Quarterly Report on Form 10-Q [24] Q&A Session Summary Question: Clarification on backlog composition - Management stated they will not break down the backlog between Ranor and STADCO at this time [27] Question: Refinancing of long-term debt - Management confirmed that the current portion of long-term debt has not been refinanced since September 30, and they are looking to refinance [32][34] Question: Impact of Israeli government approval on CH-53K orders - Management did not have access to specific timing information regarding the Israeli government's approval for additional CH-53K helicopters [38] Question: Production ramp-up at Sikorsky - Management indicated that production at Sikorsky is expected to increase to as many as 24 CH-53K helicopters per year [40] Question: Concerns about STADCO's operational issues - Management acknowledged the acquisition is a turnaround and emphasized careful management of the integration process [53] Question: Vaccination mandates and staffing - Management is encouraging vaccination among employees and monitoring regulatory changes closely [60][62] Question: Future growth opportunities outside current programs - Management believes there are significant opportunities with existing customers and will consider new customers opportunistically [82]

Financial Data and Key Metrics Changes - Gross profit increased by 20% to $833,000 compared to the same quarter one year ago, with gross margin improving to 24.4% [5][9] - Net sales were $3.4 million, a 4% increase from the same quarter a year ago [5][6] - Net income for the first quarter was $1.4 million, including a $1.3 million gain from the forgiveness of the PPP loan, compared to a net loss of $116,000 in the prior year [11] - Operating income increased to $100,000 from an operating loss of $96,000 in the same quarter a year ago [10] Business Line Data and Key Metrics Changes - Revenue in the precision industrial markets increased, offsetting slightly lower defense revenue [6] - The defense backlog remains strong, with four key defense customers accounting for about 80% of the $17.6 million net backlog [7] Market Data and Key Metrics Changes - The company generated $137,000 of cash from operating activities compared to a cash outflow of $369,000 in the prior year quarter [12] - Total debt was $2.5 million, down $1.3 million from March 31, 2021, due to the PPP loan forgiveness [13] Company Strategy and Development Direction - The company is focused on serving the United States defense industry, particularly in naval submarine manufacturing through its Ranor subsidiary, with meaningful opportunities expected in the nuclear submarine business [14] - The acquisition of STADCO is anticipated to close during the week of August 15, 2021, although no assurances can be given regarding the timing [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the COVID pandemic has impacted the United States Navy Virginia class submarine shipbuilding, causing delays that have affected the supply chain [15] - The shipbuilders are getting back on track, which is expected to increase opportunities for the Ranor subsidiary [15] Other Important Information - The company expects to spend approximately $1.1 million to purchase new fixed assets during fiscal 2022 [12] Q&A Session Summary Question: Comments on COVID and bottlenecks - A participant expressed appreciation for the clarity regarding COVID-related bottlenecks and looks forward to updates on the acquisition deal [22] Response: Acknowledgment - Management thanked the participant for their comments [23]

Table of Contents 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 June 30, 2021 ☐ 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: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | 51-0539828 | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2021 ¨ 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: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 ¨ 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: 000-51378 TechPrecision Corporation Indicate by check mark whether the registrant (1) has fil ...

TechPrecision Corporation (NASDAQ:TPCS) Q2 2021 Results Conference Call November 12, 2020 4:30 PM ET Company Participants Jeff Stanlis - Hayden IR Alex Shen - CEO Tom Sammons - CFO Conference Call Participants Ross Taylor - ARS Investment Operator Good afternoon, everyone and welcome to today’s TechPrecision Second Quarter 2021 Earnings Call and Webcast. At this time, all participants are in a listen-only mode. Later, you will have an opportunity to ask questions during the question-and-answer session. [Ope ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ¨ 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: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | ...