Fourth Quarter and Full Year 2025 Earnings Conference Call www.tecnoglass.com Disclaimer FORWARD LOOKING STATEMENTS February 26, 2026 – TECNOGLASS INC. (NYSE: TGLS) This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass' current expectations or beliefs and are subject to uncertainty and ...

Financial Performance - Total revenues increased by 93% year-over-year to a record of $2605 million in Q3 2025[12, 31] - Adjusted EBITDA was $791 million, representing 304% of revenues[12] - Net income reached $472 million, with an EPS of $101[12] Backlog and Orders - The company's backlog expanded by 214% year-over-year to a record $13 billion[12, 16] - Single-family residential revenues grew 34% year-over-year to a record $1135 million[12, 32] - U S backlog accounts for 97% of the total backlog[16] Cash Flow and Capital Allocation - Operating cash flow was strong at $40 million, resulting in free cash flow of $212 million for the quarter[12] - The company repurchased $30 million of shares during the quarter, and the board approved increasing the share repurchase program to $150 million[12, 41] - Increased Syndicate Facility to $500 million from $150 million[12] Market and Geographic Expansion - U S revenues constitute 95% of total revenues[11, 31] - Single-family residential revenues now account for 46% of U S revenues, compared to 3% in 2017[25]

Financial Performance - Total revenues reached a record $255.5 million in Q2 2025, a 16.3% year-over-year increase[9, 30] - Adjusted EBITDA increased 24.5% year-over-year to $79.8 million, with a margin of 31.2%[9, 10, 33] - Single-family residential revenues grew 14.5% year-over-year to $109.6 million in Q2 2025[10, 30] - Multi-family and commercial revenues increased 17.8% year-over-year to $145.9 million in Q2 2025[10] - Gross margin improved by 400 bps year-over-year to 44.7% in Q2 2025[10, 33] - Adjusted net income was $48.5 million, with adjusted EPS of $1.03[10] Backlog and Orders - Backlog reached a record $1.20 billion, a 17.2% year-over-year increase[9, 10, 14] - U S backlog represents 97% of total backlog[13, 14] - Single-family residential orders increased 29% sequentially in Q2 2025[10, 23] Outlook - The company anticipates full year 2025 revenue between $980 million and $1.02 billion[50] - The company anticipates full year 2025 Adjusted EBITDA between $310 million and $325 million[50]

Core Insights - Lowe's Companies, Inc. has increased its quarterly cash dividend to $1.20 per share, reflecting a 4% increase from the previous dividend of $1.15, demonstrating confidence in long-term prospects and commitment to shareholder returns [1][10] - The company has a strong history of dividend payments, having paid out cash dividends every quarter since going public in 1961, with over 25 consecutive years of annual increases [3][10] - Lowe's generated $2.9 billion in free cash flow in Q1 of fiscal 2025, which is sufficient to cover its $645 million dividend payment and support ongoing business expansion [6][10] Financial Strength and Growth Strategy - The dividend increase indicates Lowe's financial strength and commitment to delivering consistent value to shareholders despite macroeconomic challenges [2] - The company is pursuing growth opportunities, including a $1.325 billion acquisition of Artisan Design Group to enhance its presence in the Pro customer segment, financed through cash reserves [7] - Lowe's has a disciplined financial approach, with an adjusted debt-to-EBITDA ratio of 2.99X and a strong return on invested capital of 31%, allowing it to balance shareholder returns with growth investments [8] Growth Drivers - Lowe's is experiencing growth in its Pro segment, which delivered mid-single-digit comparable sales growth [11] - The company is advancing its digital transformation, with online sales rising 6% year over year in Q1, supported by the launch of the AI-powered MyLowe's adviser [12] - Lowe's is expanding its product marketplace through a partnership with Mirakl, enhancing offerings without increasing fulfillment costs or inventory [12]

Financial Data and Key Metrics Changes - Revenues increased by 15% year over year to a record $222.3 million in Q1 2025, driven by strong organic growth in both residential and multifamily commercial businesses [6][20] - Adjusted EBITDA for Q1 2025 was $70.2 million, representing a margin of 31.6%, compared to $51 million and a margin of 26.5% in the prior year [21] - Gross profit was $97.5 million with a gross margin of 43.9%, up from $74.7 million and a margin of 38.8% in the prior year [21] Business Line Data and Key Metrics Changes - Single-family residential revenues grew by 21.6% year over year to $88.9 million, reflecting strength in Florida operations and geographic expansion [6][13] - Multifamily and commercial revenues increased by 11.6% year over year to $133.4 million, supported by a growing backlog [7][15] - The company ended the quarter with a record backlog of $1.14 billion, approximately 2.2 times the last twelve months' multifamily and commercial revenues [15][16] Market Data and Key Metrics Changes - The company reported strong order traction and market share growth across various U.S. regions, including Florida, Texas, and California [11][64] - Residential orders were up 17% year over year, indicating continued demand in the market [65] Company Strategy and Development Direction - The acquisition of Continental Glass Systems enhances production capabilities in the U.S. and diversifies the company's manufacturing footprint [10][32] - The company plans to develop a fully automated and vertically integrated operation in the U.S. over the next five to seven years [25][61] - Strategic pricing adjustments and supply chain modifications are being implemented to mitigate tariff impacts [22][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025, despite macroeconomic uncertainties, citing strong performance and a robust project backlog [11][29] - The company anticipates that strategic actions will offset the projected $25 million tariff impact for the year [26][30] - Management highlighted the importance of geographic diversification in mitigating regional market risks [17] Other Important Information - The company achieved record cash of $157.3 million at the end of Q1 2025, reflecting strong cash generation and working capital management [11][27] - Total liquidity was approximately $330 million, providing financial flexibility for growth initiatives and shareholder returns [28] Q&A Session Summary Question: Insights on the architectural glass industry and imports - Management noted that U.S. manufacturers import a significant portion of raw materials, presenting opportunities for growth [36][37] Question: Breakdown of residential growth and vinyl expectations - The legacy Florida business grew by approximately 15%, with other regions starting to contribute more significantly [41] Question: Details on the Continental acquisition and its benefits - The acquisition provides manufacturing capabilities in the U.S. and access to the growing replacement market for condominiums [45][46] Question: Plans for U.S. manufacturing development - The company plans to establish a foundry and eventually a fully integrated facility in the U.S. to enhance production efficiency [60][61] Question: Trends in commercial orders and geographic diversification - Management reported booming business with increasing orders from various regions, indicating a diversified order pipeline [64][68]

Financial Data and Key Metrics Changes - Revenues increased by 15% year over year to a record $222.3 million in Q1 2025, driven by strong organic growth in both residential and multifamily commercial businesses [6][20] - Adjusted EBITDA for Q1 2025 was $70.2 million, representing an adjusted EBITDA margin of 31.6%, compared to $51 million or 26.5% margin in the prior year [21] - Gross profit was $97.5 million with a gross margin of 43.9%, up from $74.7 million and 38.8% gross margin in the prior year [21] Business Line Data and Key Metrics Changes - Single-family residential revenues grew 21.6% year over year to $88.9 million, reflecting strength in Florida operations and geographic expansion [6][13] - Multifamily and commercial revenues increased by 11.6% year over year to $133.4 million, supported by an expanding backlog [7][15] - The company ended the quarter with a record multiyear backlog of $1.14 billion, representing approximately 2.2 times the last twelve months (LTM) multifamily and commercial revenues [15][16] Market Data and Key Metrics Changes - The company reported strong order traction and ongoing market share growth in various U.S. regions, despite macroeconomic uncertainties [11][12] - The book-to-bill ratio remained healthy at 1.2 times, maintaining a track record above 1.1 times for seventeen consecutive quarters [16] Company Strategy and Development Direction - The acquisition of Continental Glass Systems enhances production capabilities in the U.S. and diversifies the company's manufacturing footprint [8][9] - The company plans to develop a fully automated and vertically integrated operation in the U.S. over the next five to seven years to improve logistics and lead time efficiencies [25][62] - Strategic pricing adjustments and supply chain modifications are being implemented to mitigate tariff impacts [22][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025, citing strong performance in single-family residential orders and a robust project backlog [11][30] - The company anticipates that strategic actions will offset the projected $25 million tariff impact for the year, assuming similar volumes to original projections [26][30] - Management remains optimistic about the ability to navigate macroeconomic challenges while maintaining industry-leading profitability [12][32] Other Important Information - The company generated operating cash flow of $51.2 million in Q1 2025, resulting in record quarterly free cash flow of $28.8 million [27][28] - Total liquidity at quarter end was approximately $330 million, providing financial flexibility for growth initiatives and shareholder returns [29] Q&A Session Summary Question: Understanding the architectural glass industry imports - Management noted that while they do not have specific import numbers, their raw materials are sourced from the U.S., providing a competitive advantage [37][38] Question: Residential growth breakdown - The legacy Florida business contributed approximately 15% growth, with the remainder coming from new markets [41] Question: Continental acquisition benefits - The acquisition provides manufacturing capabilities in the U.S. and access to the growing replacement market for condominiums [45][46] Question: Future U.S. manufacturing plans - The company plans to establish a foundry and eventually a fully integrated facility in the U.S. over the next five to seven years [54][62] Question: Order trends in commercial business - Management reported strong order trends and a growing backlog across various U.S. regions, indicating robust demand [65][68]

Financial Performance - Revenues increased by 15.4% year-over-year to a record $222.3 million in Q1 2025, driven by strong performance in key markets and market share gains[12, 32] - Single-family residential revenues grew 21.6% year-over-year to $88.9 million, supported by dealership growth and geographic expansion[12, 32] - Multi-family and commercial revenues increased 11.6% year-over-year to $133.4 million, reflecting consistent execution on the growing backlog[12] - Adjusted EBITDA increased 37.5% year-over-year to $70.2 million, with the Adjusted EBITDA margin improving to 31.6% of revenues[12, 35] - Operating cash flow was strong at $46.9 million, resulting in a record quarterly free cash flow of $28.8 million[12, 44] Backlog and Orders - Backlog grew 24.9% year-over-year to a record $1.14 billion, representing a book-to-build ratio of 1.2x[12, 16] - U S backlog represents 95% of the total backlog[16] - Single-family residential orders increased 16.6% year-over-year in Q1 2025[12, 32] Outlook and Strategy - The company anticipates full year 2025 revenue between $960 million and $1.02 billion, and Adjusted EBITDA between $305 million and $330 million[52, 53] - Vinyl revenues are projected to be approximately $25 million at the high end of the outlook[55] - The company is implementing mitigation actions to offset the potential $25 million impact of U S aluminum tariffs in 2025[36, 39]