March 12, 2007

1st Quarter Conference Call 10:00 AM CDT

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Safe Harbor StatementSPARTECH: FORWARD-LOOKING STATEMENTS

This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 relate to future events and expectations, include statements containing such words as “anticipates,” “believes,” “estimates,” “expects,” “would,” “should,” “will,” “will likely result,” “forecast,” “outlook,” “projects,” and similar expressions. Forward-looking statements are based on management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which management is unable to predict or control, that may cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. Important factors which have impacted and could impact our operations and results include: (a) adverse changes in economic or industry conditions generally, including global supply and demand conditions and prices for products of the types we produce; (b) the ability to compete effectively on product performance, quality, price, availability, product development, and customer service, (c) material adverse changes in the markets we serve, including the transportation, packaging, building and construction, recreation and leisure, and other markets, some of which tend to be cyclical;

-continued-

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SPARTECH: FORWARD-LOOKING STATEMENTS, continued

(d) our inability to achieve the level of cost savings, productivity improvements, synergies, growth or other benefits anticipated from acquired businesses and their integration; (e) volatility of prices and availability of supply of energy and of the raw materials that are critical to the manufacture of our products, particularly plastic resins derived from oil and natural gas, including future effects of natural disasters; (f) our inability to manage or pass through an adequate level of increases to customers in the costs of materials, freight, utilities, or other conversion costs; (g) our inability to predict accurately the costs to be incurred, time taken to complete, or savings to be achieved in connection with announced production plant restructurings; (h) adverse findings in significant legal or environmental proceedings or our inability to comply with applicable environmental laws and regulations; (i) adverse developments with work stoppages or labor disruptions, particularly in the automotive industry; (j) our inability to achieve operational efficiency goals or cost reduction initiatives; (k) our inability to develop and launch new products successfully; (l) restrictions imposed on us by instruments governing our indebtedness, and the possible inability to comply with requirements of those instruments; (m) possible weaknesses in internal controls; and (n) our ability to successfully complete the implementation of a new enterprise resource planning computer system. We assume no duty to update our forward-looking statements.

Safe Harbor Statement

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1st Quarter 2007 Performance

Operating Highlights

Details on Operating Results

2007 Guidance and Outlook

1st Quarter Conference Call…Presentation Content

Note: These slides should be read in conjunction with our 1st Quarter Earnings Release issued March 12, 2007.

Abbreviations: M = amounts in millions

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Operating Results

Volumes were lower when taking into account the extra week due to particularly weak November … growth in some key markets helped mitigate weakness in Heavy Truck, Manufactured Housing and RV

Material Margin/lb continued to be solid at 35 cents per pound… stable with Q4 and Q1 last year

Conversion costs/lb down from Q1 2006…Q1 ’07=24.1 cents, down from 25.1 cents in Q1 ’07, lower labor, freight, & utilities

Net Earnings increased to $8.1 million from $5.7 million last year… EPS up to $0.25 from $0.18

Cash flow continued to be strong…setting a record for a first quarter at $17.2 million, up 16% from the previous record set last year

Spartech Corporation… 1st Quarter Performance Highlights

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1st Quarter Performance Highlights

Custom Sheet and Rollstock Earnings up to $16.0 million from $12.7 million Comparable sales volume weak at -3%

Hard comparable with last year’s post Katrina surge Packaging and material handling were very strong

Material margin and conversion cost both improved

Color and Specialty Compounds Earnings down from $4.5 million to $4.0 million Comparable sales volume weak at -4%

Automotive weak, Film packaging weak, Roofing strong Poor mix (less color due to year-end inventory de-stockings)

drove lower material margins—partially compensated for with better conversion costs

Engineered Products Earnings up to $1.6 million from $1.0 million

Benefited by improved conversion costs on sales down 2%

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Material Margin Trends

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00Price/Ib

Sales Price

Material Costs

Material Margin

2004 2005 2006 2007

1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st

Sales Price 0.792 0.795 0.821 0.834 0.896 0.973 0.954 0.967 1.024 1.013 1.014 1.019 1.001

Material Costs 0.461 0.464 0.488 0.511 0.566 0.633 0.616 0.627 0.672 0.655 0.662 0.665 0.648

Material Margin 0.331 0.331 0.333 0.323 0.330 0.340 0.338 0.340 0.352 0.358 0.352 0.354 0.353

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Plant Restructurings…We have sold all idle facilities resulting from the 2005 and 2006 plant restructurings (last sale closing March ’07).

Planned Capital…We have made solid progress on three key initiatives: Greenville Consolidation Ramos Mexico Expansion Oracle ERP

Green Products Growth…Sales of 22.3M pounds in 1st Qtr of 2007 compared to 19.1M in 2006, up 17%

Working Capital Performance: DSO improved 2.7 days from 1st qtr ‘06, 52.8 to 50.1 days Inventory turns were 8.9x, down slightly from 2006 1st qtr of 9.4x Net working capital represents 10.7% of Sales versus 12.9% at 1st qtr ‘06

Debt Position: Despite higher capital expenditures ($10.2 versus $4.0) and repurchase of

shares of $10.4M, only borrowed $3.8M in qtr Debt outstanding of $299M, represents .68 to 1 (Debt/Equity) Availability totaling $241M

Other Highlights

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Revised guidance of $1.55 to $1.62 Without special items Compares to $1.44 per diluted share in 2006 Weaker demand environment than 2006 (Auto, Housing,

Heavy Truck) Benefits from 2006 cost reduction efforts and improved

freight and utilities Some negatives from Greenville consolidation in advance

of 2008 benefits

Growth & Improvement Initiatives Green Products Initiative Greenville Consolidation Mexico Plant Expansion and Growth TPO heavy truck initiative

2007 Initiatives and Outlook

Supplemental Data

11Customer End Markets – 1st Quarter of 2007

Company Overview… Diversity of Markets

PackagingFood

Consumer Medical

Material HandlingTransportation

AutomobileHeavy TruckAerospace

Building & ConstructionRoofing

SanitarywareWindows & Doors

Recreation & LeisurePool & Spa

RVPower Sports

MarineAppliances & Electronics

RefrigerationMedical EquipmentSign & Advertising

Outdoor SignPOP DisplayGraphic Arts

Lawn & GardenLawnmower Wheels

Agricultural Implement

Building &Construction

Recreation & Leisure

Other

Sign & Advertising

Appliance & Electronics

Lawn & Garden Packaging & Material Handling

25%

10%

16%

21%

Transportation

4%

7%

7%

SPARTECHSPARTECH

10%

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2007 Market Expectations…

High Growth

Packaging & Material Handling

Material Handling

Aerospace

TPO Roofing

FoodConsumer

Medical

Automotive

Sanitaryware

Power Sports

POP DisplaysGraphic Arts

Agricultural Implements

Medical EquipmentRefrigeration

Automotive

Heavy Truck

Windows & Doors

RV Pool & Spa

Marine

Outdoor Sign

Lawnmower Wheels

Refrigeration

Medium GrowthWeak

Recreation & Leisure

Transportation

Building & Construction

Lawn & Garden

Appliances & Electronics

Sign & Advertising

Grey Names = General Market expectations compared to Spartech.

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Material/Gross/Operating MarginsResults Per Pound Sold

Quarterly Results:Year 1st Q Year 4th Q 3rd Q 2nd Q 1st Q Year 4th Q 3rd Q 2nd Q 1st Q

Per Pound SoldSales 1.001 1.001 1.017 1.019 1.014 1.013 1.024 0.949 0.967 0.954 0.973 0.896 Material Cost 0.648 0.649 0.663 0.665 0.662 0.655 0.672 0.612 0.627 0.616 0.633 0.566

Material Margin 0.353 0.352 0.354 0.354 0.352 0.358 0.352 0.337 0.340 0.338 0.340 0.330 Conversion Cost 0.241 0.240 0.233 0.229 0.222 0.233 0.250 0.233 0.235 0.229 0.223 0.245

Gross Profit 0.112 0.112 0.121 0.125 0.130 0.125 0.102 0.104 0.105 0.109 0.117 0.085 SG&A 0.057 0.057 0.050 0.053 0.050 0.045 0.051 0.048 0.047 0.046 0.049 0.049 Amortization 0.003 0.003 0.003 0.003 0.003 0.002 0.003 0.003 0.003 0.003 0.004 0.004 Special Charges/Option Expense 0.003 0.003 0.005 0.012 0.003 0.003 0.003 0.014 0.006 0.023 0.024 -

Operating Earnings 0.049 0.049 0.063 0.057 0.074 0.075 0.045 0.039 0.049 0.037 0.040 0.032 Depreciation and Amortization 0.030 0.030 0.028 0.028 0.028 0.026 0.030 0.027 0.026 0.027 0.026 0.029

EBITDA (A) 0.079 0.079 0.091 0.085 0.102 0.101 0.075 0.066 0.075 0.064 0.066 0.061

(A) We believe that EBITDA is a meaningful gauge of financial strength from continuing operations before financing costs, taxes on income, and depreciation and amortization. However, it should be viewed as supplemental data, rather than as a substitute or alternative to GAAP performancemeasures.

200520062007

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Cash Flow TrendsFrom Operations and Free Cash Flow

Quarterly Results (In 000's): 20071st Q Year 4th Q 3rd Q 2nd Q 1st Q Year 4th Q 3rd Q 2nd Q 1st Q

Cash Flow Data (in 000's)Net Income 8,065 38,798 8,619 10,614 13,909 5,656 18,263 5,164 4,289 5,680 3,130 Depreciation and Amortization 10,387 40,698 10,269 10,261 10,119 10,049 39,380 9,753 9,894 9,940 9,793 Change in Working Capital (3,824) 31,551 16,090 19,474 (278) (3,735) 25,163 19,347 31,013 (2,329) (22,868) Other Operating Cash flows 2,535 16,496 3,901 7,389 2,360 2,846 22,212 6,080 5,749 9,203 1,180

Cash Flows from Operations 17,163 127,543 38,879 47,738 26,110 14,816 105,018 40,344 50,945 22,494 (8,765) Capital Expenditures (10,240) (23,966) (9,581) (4,997) (5,376) (4,012) (39,265) (7,998) (8,034) (9,759) (13,474)

Free Cash Flow (A) 6,923 103,577 29,298 42,741 20,734 10,804 65,753 32,346 42,911 12,735 (22,239)

(A) We believe that free cash flow, a non-GAAP measure, is an important indicator of the Company's ability to generate excess cash above levelsrequired for capital investment to support future growth. However, it should be viewed as supplemental data, rather than as a substitute oralternative to any GAAP performance measure.

20052006

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Non-GAAP MeasuresGAAP to Non-GAAP Reconciliation

We believe that operating earnings, net earnings, and earnings per share excluding special items, which are non-GAAP measurements, are meaningful to investors because they provide a view of the Company’s comparable operating results. Special items (restructuring and exit costs) represent significant charges that we believe are important to an understanding of the Company’s overall operating results in the periods presented. Such non-GAAP measurements are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance. The following reconciles GAAP to non-GAAP measures for operating earnings, net income, and earnings per share excluding special items used within this release. Amounts are unaudited and in thousands, except per share data.

Three Months Ended

February 3, January 28, 2007 2006

Operating Earnings (GAAP) $ 17,428 $ 14,871 Restructuring and Exit Costs, net 238 466 Operating Earnings Excluding Special Item (Non-GAAP) $ 17,666 $ 15,337

Net Earnings (GAAP) $ 8,065 $ 5,656 Restructuring and Exit Costs, net 148 289 Net Earnings Excluding Special Items (Non-GAAP) $ 8,213 $ 5,945 Earnings Per Diluted Share (GAAP) $ .25 $ .18 Special Items (Restructuring and Exit Costs) - . .01 Earnings Per Diluted Share Excluding Special Items (Non-GAAP) $ .25 $ .19