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Our Mission & Vision

INVESTORPRESENTATIONMarch 22, 2018


Cautionary Statement RegardingForward-Looking Statements

2

Certain statements and information in this presentation may constitute forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. The words “believe,” “anticipate,” “plan,” “intend,” “foresee,” “guidance,” “potential,” “expect,”“should,” “will” “continue,” “could,” “estimate,” “forecast,” “goal,” “may,” “objective,” “predict,” “projection,” or similar expressions areintended to identify forward-looking statements (including those contained in certain visual depictions) in this presentation. These forward-looking statements reflect the Company's current expectations and/or beliefs concerning future events. The Company believes theinformation, estimates, forecasts and assumptions on which these statements are based are current, reasonable and complete. Ourexpectations with respect to the second quarter of fiscal 2018 and the full year fiscal 2018 that are contained in this presentation areforward looking statements based on management’s best estimates, as of the date of this presentation. These estimates are unaudited, andreflect management’s current views with respect to future results. However, the forward-looking statements in this presentation aresubject to a number of risks and uncertainties that may cause the Company's actual performance to differ materially from that projected insuch statements. Among the factors that could cause actual results to differ materially include, but are not limited to, industry cyclicality andseasonality and adverse weather conditions; challenging economic conditions affecting the nonresidential construction industry; volatility inthe U.S. economy and abroad, generally, and in the credit markets; changes in U.S. legislation following the 2016 Presidential election,including potential tax reform; substantial indebtedness and our ability to incur substantially more indebtedness; our ability to generatesignificant cash flow required to service or refinance our existing debt, including the Term Loan due in 2025; our ability to comply with thefinancial tests and covenants in our existing and future debt obligations; operational limitations or restrictions in connection with our debt;increases in interest rates; recognition of asset impairment charges; commodity price increases and/or limited availability of raw materials,including steel; costs relative to maintenance or replacement of our enterprise resource planning technologies; our ability to make strategicacquisitions accretive to earnings; retention and replacement of key personnel; our ability to carry out our restructuring plans and to fullyrealize the expected cost savings; enforcement and obsolescence of intellectual property rights; fluctuations in customer demand; costsrelated to environmental clean-ups and liabilities; competitive activity and pricing pressure; increases in energy prices; volatility of theCompany's stock price; potential future sales of the Company's common stock held by our sponsor; substantial governance and other rightsheld by our sponsor; breaches of our information system security measures and damage to our major information management systems;hazards that may cause personal injury or property damage, thereby subjecting us to liabilities and possible losses, which may not becovered by insurance; changes in laws or regulations, including the Dodd–Frank Act; and costs and other effects of legal and administrativeproceedings, settlements, investigations, claims and other matters; timing and amount of any future stock repurchases. In addition to thesefactors, we encourage you to review the “Risk Factors” set forth in the Company's Annual Report on Form 10-K for the fiscal year endedOctober 29, 2017, and the other risks and uncertainties described in documents we file from time to time with the SEC, which identify otherimportant factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in theforward-looking statements contained in this presentation. The Company expressly disclaims any obligation to release publicly any updatesor revisions to these forward-looking statements, whether as a result of new information, future events, or otherwise.


3http://www.ncibuildingsystems.com/NCI-Advantage.html

Our Mission & VisionNCI Building Systems at a Glance

4

Metal ComponentsMetal Coil Coating Engineered Building SystemsInsulated Metal Panels

Leading manufacturer of building products for the low-rise nonresidential construction industry

Four vertically integrated market segments

• Metal Coil Coatings• Insulated Metal Panels (‘IMP’)• Metal Components• Engineered Building Systems

Prominent market positions in each business segment

Large end-markets provide broad customer diversification

• Commercial and Industrial• Institutional• Agricultural

Diverse manufacturing footprint strategically located to serve key markets

Headquartered in Houston, TX with ~ 5,300 employees

Our Mission & VisionBusiness Segments

5

Key Segments Focus Key products End Markets (1) Third PartyRevenue FY2017

Metal Coil Coating

Cleans, treats and paints flat rolled metal coil substrates for use by

manufacturers of metal components and other products such as water

heaters, lighting fixtures, ceiling grids, HVAC and appliances.

$193 million

Insulated Metal Panels

Used in three key end-markets cold storage, ICI and architectural, IMP

provides a combination of aesthetics, performance, sustainability and value

for a large variety of end-market uses.

$372 million

Metal Components

Distributes and manufactures metal roof and wall systems, metal

partitions, and metal roll-up doorsand related trim used in new

construction and retrofit applications.

$545 million

Engineered Building Systems

Manufactures and distributes custom designed and engineered building systems to meet specific building codes and end-user requirements

and are shipped ready for assembly

$660 million

35%

11%22%

15%

6%11%

Commercial

Agricultural

OtherInstitutional

Industrial

Residential

(1) Source: Management estimates; internal order data as of October 2017

Industrial

9%

56%16%

13%4%

2%

Commercial

Agricultural

Institutional

Other Residential

48%

14%

17%

8%

12%1%

Commercial

Institutional

Agricultural

Industrial

ResidentialOther

Industrial 60%

12%

22%5% 1%

Commercial

Institutional

OtherResidential


6

The NCI Platform

Our Mission & Vision1

Platform for profitable growth and value creation

7

2

3

4

5

6

Taking market share in a fundamentally attractive industry

Strategic insulated metal panel platform

Ongoing cyclical recovery

Significantly improved business

Opportunities in Cost Reduction and Growth

Structurally advantaged platform


8

NCI is one of North America’s largest integrated manufacturers and marketers of metal products for the nonresidential construction industry

Third-party customers

49%EXTERNAL

Structurally advantaged platformVertically integrated business model1

88%EXTERNAL

82%EXTERNAL

92%EXTERNAL

Engineered Building Systems (“Buildings”)

Builder network General contractors Developers Custom fabricators

Small, medium and large contractors

Specialty roofers Engineered building

fabricators Distributors/lumberyards End users

Architects Builders Small, medium and large

contractors Dealer network Specialized distribution

Manufacturers of painted steel products: Metal buildings Appliances Garage and entry doors Light fixtures and HVAC

Metal Coil Coating


Metal Components

Note: Percentages are primarily based on fiscal year 2017 volume measured in tons. For Insulated Metal Panels, the percentage is based on sales revenues.


NCI22%

Bluescope22% Nucor

26%

NCI40%

NCI14%

PrecoatMetals ~40%

NCI48%

Kingspan45%

Structurally advantaged platformLeading market positions

9

Metal Components

Light gauge coil coating

Heavy gauge hot rolled steel coating

Top 4 heavy gauge participants control approximately 85% of market

Advantaged through internal consumption and vertical integration

High-end specialty coating capabilities enhanced through CENTRIA acquisition

Fast-growing, high-margin products

CENTRIA acquisition enhances IMP leadership position

Engineered Building Systems(1)

Highly consolidated industry with top 3 players representing ~70% of the market(1)

Well-respected brands marketed through a broad network of builders and distributors

1

Market share(2)

#1

#2

#1

#2

#1

NCI8%


Metal Components market is highly fragmented

Significant breadth of geography, end-market applications, and customers

Note: Market position and market share based on management estimates.(1) Represents the portion of the market served by the Metal Building Manufacturers Association (“MBMA”) based on shipment tons.(2) Heavy gauge, light gauge and Engineered Building Systems market shares are based on tons shipped. Metal Components and Insulated metal panels market shares are based on revenue.


10

Network of ~3,200 affiliated builders ~1,000 dealers/partners associated with IMP product line Relationship with ~5,500 architects who influence end users through specification of our products

1 Structurally advantaged platformSupported by powerful sales channel

Buildings Group Builders

IMP Top 200 Dealers-Customers

Metal Components Top 500 Customers


11

Businesssegment

% of steel purchasing

Typical sales cycle length

Steel price trajectory

Near- termmargin impact

Varying length of sales cycles across our business segments combined with opposing margin impacts from changes in steel prices creates a natural hedge for the overall company

As a result, changes in steel prices have historically had a minimal effect on overall gross margins

Commentary

1 Structurally advantaged platformOverview of steel price impact and integrated natural hedge

Note: % of steel purchasing measured as shipped product volume (tons).

Metal Coil Coating ~5% Immediate

(1 – 14 days)

Raise prices immediately if steel prices increase

Attempt to lower prices slower if steel prices decline

Metal Components ~44% Immediate

(1 – 14 days)

Raise prices immediately if steel prices increase

Attempt to lower prices slower if steel prices decline

Engineered Building Systems

~51% 90 – 120 days

Ability to renegotiate higher price if steel prices increase


12Note: Data shown based on NCI fiscal year-end. NCI steel inventory is managed using FIFO.

1,036 976

599 598 599

689 767 812 900

1,006 988 974

24.8% 24.9% 22.4%

19.6% 21.0% 22.2% 21.0% 21.3%

23.8% 25.4%

23.5% 23.6%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18 TTM

NCI volume (thousands of tons) NCI gross margin

Historical NCI volume vs. NCI gross margin

148

236

152 156 182 165 171 177

127 149

170 178

24.8% 24.9% 22.4%

19.6% 21.0%

22.2% 21.0% 21.3% 23.8% 25.4%

23.5% 23.6%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18 TTM

CRU Steel Price Index NCI gross margin

Correlation = 0.04

Historical CRU Steel Price Index vs. NCI gross margin

Correlation = 0.85

1 Structurally advantaged platformGross margin is more correlated to volume changes than to steel price changes

High correlationto volume

Low correlation to steel prices


1 Structurally advantaged platformLarge End Markets Provide Broad Diversification

A wide range of industry segments, with no single customer accounting for more than 2% of sales

Institutional

Hangars

Schools

Hospitals

Commercial/Industrial

Offices

Warehouses

Banks

Hotels

Manufacturing

Agricultural

Arenas

Farms

Equestrian Centers Religious

13


20% 13%

5%

14% 8% 5%

9% 10% 14%

6% 7% 1%

2012 2013 2014 2015 2016 2017

NCI revenue Low-rise nonresidential construction (sq. ft.) (1)

1.06

1.15

1.00 1.05 1.10 1.15 1.20 1.25 1.30 1.35 1.40

2007 2017

Taking market share in a fundamentally attractive industry

14Source: Dodge Data and Analytics; Metal Building Manufacturers Association.Note: Data shown based on NCI fiscal year-end.(1) Dodge nonresidential starts data for prior 18 months is subject to upward revision.

MBMA tons shipped / low-rise nonres. construction starts(1)

Tons / 1,000 sq. ft.

3-ye

ar ro

lling

ave

rage

Metal building industry has gained share in thelow-rise nonresidential construction market Increased cost-efficiency and lower

maintenance

Architecturally pleasing structures

Sustainability / recycled materials / LEED

Technological advancements

2

+96 bps+783 bps–912 bps+308 bps+1,154 bps

Y-o-Y % growth – NCI revenue vs. low-rise nonresidential construction (sq. ft.) growth(1)

Metal building key drivers

NCI revenue vs. low-rise nonres. (sq. ft.)

+363 bps


Strategic insulated metal panel platform Features and Benefits

15

3

Performance and Durability

Superior air, vapor, water and thermal barriers for interior/exterior wall structures

Wide range of market applications

Minimal maintenance

Lightweight yet strong

Design Flexibility

Metl-Span CENTRIA

Major Market Focus Cold Storage and ICI Architectural

Minor Market Focus Architectural ICI

Thickness 2" to 6" 2" to 4"

Industrial Widths Std. 30", 36",42" and 45" Std. 30" and 36"

Architectural Widths 12" to 36", some variability 10" to 40", unlimited variability

Panel lengths 8’ to 53’ 6’ to 40’

Standard Colors 70 80

Custom Colors Available, may exclude dark colors Unlimited

Energy Efficiency

02468

IMP ISO BoardStock

ExtrudedPolystyrene

(XPS)

Mineral Wool ExpandedPolystyrene

(XPS)

FiberglassBatts

Comparative R Values (per inch)

Ease of Installation and Lower Labor Cost

Traditional multi-component build up

IMP factory assembled design saves time

Lower Cost of Total Ownership Better R Value = Lower Monthly Costs

Wide Range of Customizable Solutions Saves Time / Money by Reducing Trades

Focused strategy to expand high growth, high-margin IMP product line

Foam Insulation2

Exterior Metal Skin1

InteriorMetal Skin

3


16

Strategic insulated metal panel platformAn Integrated Business – The Complete Building Solution3

Pingree School Athletics Facility

A custom-engineered metal building representing the regional demand foraesthetic, functional, green buildings

Metallic supplied the project’s complete primary and secondary framing

Metl-Span helped the school achieve optimal levels of energy efficiency by integrating multiple green attributes including IMP panels

“The use of Mesa panels at the gymnasium portion of the building helped reduce the project costs while meeting the required R-value for the wall assembly.”

Lino Mancini, AIA, LEED AP Olson Lewis + Architects

Metallic : Pingree School Athletics Facility : S. Hamilton, MA

Insulated Metal PanelsMetl-Span Mesa Wall Panel

Roof PanelSuperLok®

Primary FramingGable Symmetrical

Roof PanelSuperLok®

“Metl-Span products integrate very well with Metallic buildings. Metallic Building Company supplied its metal building system, with clear-span metal framing and metal roofing panels for the facility. Metl-Span Mesa 42-inch wall panels were installed because the inside portion of the panel possesses a profiled finish acting as the interior wall, and to provide energy efficiency for the facility”

Barnes Buildings and Management GroupSouth Hamilton, Mass.


Significantly improved businessCommercial and operational execution driving performance

17

4

Note: Data shown based on NCI fiscal year-end. Adjusted EBITDA is a non-GAAP measure. EBITDA Margin measured as a percentage of Total Revenue. See Appendix for reconciliation.

Product penetration through adjacency• Leveraging the advantaged builder and components sales

channels to drive additional sales in complimentary products such as IMP and doors

• Investments in IMP, growing faster than the other nonresidential markets

• Provide a repeatable model for other complimentary product opportunities

Brand Strengths• Use of eCommerce to enhance the customer’s experience

through a proven software platform • Portfolio of brands with multi-generational customer

relationships • Diverse customer base enables brands to pivot to end-

markets experiencing highest growth

Manufacturing• Automation and lean manufacturing processes• Ability to manufacture products across different facilities• Improved fixed-cost footprint through facility realignment and

consolidation Supply chain / procurement

• Streamlined supply chain and back office functions• Improved steel buying• Leveraged volume to drive efficiencies throughout the cost

structure

Commercial execution to drive profitable growth

Manufacturing and supply chain optimization

5% 8%

2014 Q1-18 TTM

$76

$174

2014 Q1-18 TTM

Adj. EBITDA marginAdj. EBITDA

+332 bps

+131%

Consolidated Results


Ongoing cyclical recoverySignificant upside remains in our core markets

18

5

Source: Dodge Data and Analytics.

New nonresidential starts – low-rise (5 stories or less)(1)

(Sq. ft. in millions)(Sq. ft. in millions)

Note: Data shown based on calendar year-end.(1) Dodge nonresidential starts data for prior 18 months is subject to upward revision.(*) 2017 reflects starts reported to Dodge to date, subject to historical upward revisions. The Company expects 4-7% growth for low-rise nonresidential starts

for fiscal 2017, once fully revised.

600

800

1,000

1,200

1,400

1,600

1,800

2,000

'67 '72 '77 '82 '87 '92 '97 '02 '07 '12 '17

Avg. 1967 – 2016

Avg. trough1967 – 2016 (excl. 2010)

Avg. peak 1967 – 2016

*

Sq. ft. Percentage

Low-rise nonresidential starts(1) Sq. ft. 2017 difference difference

Average trough 1967 – 2017 (ex. 2010) 995 965 30 3% Average 1967 – 2017 1,144 965 179 19% Average peak 1967 – 2017 1,414 965 450 47%


Ongoing cyclical recoveryKey leading indicators are positive

19

5

Source: American Institute of Architects and Dodge Data and Analytics.Note: Data shown based on calendar year.

0

40

80

120

160

200

240

280

2010 2011 2012 2013 2014 2015 2016 2017 201835

40

45

50

55

60

2010 2011 2012 2013 2014 2015 2016 2017 2018

80

90

100

110

120

130

2010 2011 2012 2013 2014 2015 2016 2017 2018

LEI continues to show growth in index of economic predictors

Single family residential activity has shown y-o-y growth in 23 of the last 24 months

ABI Mixed Practice Index has indicated growth in 19 of the last 24 months

(Sq. ft. in millions)

Bill

ings

inde

x (g

reat

er th

an 5

0 =

expa

nsio

n)

500

700

900

1,100

1,300

1,500

1,700

1,900

2,1006.0%

8.0%

10.0%

12.0%

14.0%

16.0%2000 2003 2006 2009 2012 2015 2018

Vacancy rates have improved significantly over the past several years

(Sq. ft. in millions)

Data updated as of March 2018

CBRE Vacancy Rate (inverted) Dodge Data nores. (sq.ft.)

Architectural activity (ABI Mixed Practice Index) Single family residential square footage

Conference Board Leading Economic Index Industrial vacancy rates


20Source: Management estimates.Note: Analysis is illustrative. Actual results may vary. Adjusted EBITDA is a non-GAAP measure. See Appendix for reconciliation.

NCI FY 2016Adjusted EBITDA

Illustrative marketrecovery to 50-year average

Mid-cycle AdjustedEBITDA

opportunityBEFORE growthand productivity

initiatives

Incrementalopportunity from

growth andproductivity

intiatives

Mid-cycle AdjustedEBITDA

opportunity WITHgrowth andproductivityinitiatives

Cost and Margin Improvement

Business process excellence – continue to build a culture of eliminating waste

Advanced manufacturing – utilize ‘best-in-class’ automation to improve productivity and quality

Back office consolidation of Engineering and Drafting resources in North America while leveraging lower cost off-shore resources

Growth

Product Adjacencies – cross-selling of IMP and door products, and building envelope through advantaged builder and components networks

Advanced Pricing – standardization and centralization of pricing strategy and processes

eCommerce – opening new sales channels enhancing the customer experience

BusinessSegment

Future marginexpansion potential

MetalComponents

Metal CoilCoating

EngineeredBuilding Systems

Strong operating leverage as low-rise nonresidential starts return to historical averages

NCI illustrative Adjusted EBITDA growth opportunity Potential upside from key initiatives

FY2017Adjusted EBITDA

Incremental opportunity from

growth and productivity initiatives

Mid-cycle Adjusted EBITDA

opportunity WITH growth and productivity initiatives

Illustrative market recovery to 50-year

average

Mid-cycle Adjusted EBITDA

opportunity BEFORE growth and productivity

initiatives


Opportunity to drive meaningful long-term Adjusted EBITDA improvementThrough Cost and Growth Initiatives6


Growth Initiatives

Key Cost/Efficiency and Growth InitiativesDriving $40 - $50 million in incremental profitability through 2020

21

6

Advanced Manufacturing

Take advantage of ‘Best-in-Class’ automation technology to improve variable labor costs, material costs

and improve product quality

Business Process Excellence

Driving waste out of processes throughout the organization by

utilizing “black belts” to train “green belts”, holding project selection

events, and empowering a culture of continuous improvement

Adjacency

Adjacency is about offering an envelope solution, driving adjacent complimentary products through our advantaged sales channels

Advanced Pricing

Standardizing and centralizing pricing strategy and processes in order to improve real time pricing

decisions as well as the evaluation of pricing execution over time

Cost and Efficiency Initiatives


22

Ability to deliver growth and margin expansion in a slow growth economy as a result of advanced manufacturing and continuous improvement initiatives

Diverse customer base that leverages local knowledge and accesses growing end markets

Broad manufacturing footprint, strategically located near active local markets

Significant organic growth opportunities in Insulated metal panels Doors Legacy businesses Other adjacency products

Impressive financial momentum and flexible capital structure

CENTRIA : IMP : Pittsburgh, PA

Metl-Span : IMP : Detroit, MI

MBCI : SuperLok : Fort Pierce, FL TX

NCI Investment Highlights


23

Financial Overview

Our Mission & VisionHistorical financial performance (fiscal year)

24Note: Data shown based on NCI fiscal year-end. Adjusted EBITDA is a non-GAAP measure. See Appendix for reconciliation.(1) Acquisitions included from the date of acquisition. Metl-Span and CENTRIA were acquired in FY2012 and FY2015, respectively.(2) Excludes unusual items as presented on the face of the consolidated statements of operations.

External sales(1) Gross profit(1)(2)

ESG&A(1)(2) Adjusted EBITDA(1)

($ in millions) ($ in millions)

($ in millions) ($ in millions)

$1,763

$965 $871

$960 $1,154 $1,308

$1,371 $1,564 $1,685

$1,770 $1,800

9%

(45)%

(10)%10%

20%13%

5%

14%8% 5%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18TTM

External sales % growth

$440

$216 $171

$202

$256 $276 $292

$372

$428 $416 $424

25%22%

20% 21%22% 21% 21%

24% 25%24% 24%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18TTM

Volume % margin

$281

$211$191 $202

$219$253 $258

$287$303 $293 $299

16%

22% 22% 21%

19% 19% 19% 18% 18%

17% 17%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18TTM

ESG&A % of external sales

$201

$45

$16

$36

$77 $71 $76

$130

$166 $167 $174

11%

5% 2% 4%7% 5% 6%

8% 10% 9% 10%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18TTM

Adjusted EBITDA % margin

Our Mission & VisionStrong cash flow and balance sheet to support future growth

25

$48 $47 $58

$109

$145 $145 $148

63% 66% 76%

84% 87%

87% 85%

2012 2013 2014 2015 2016 2017 Q1-18TTM

Free cash flow FCF conversion rate

($ in millions)

Note: Data shown based on NCI fiscal year-end. Adjusted EBITDA is a non-GAAP measure. See Appendix for reconciliation.(1) Free cash flow defined as Adjusted EBITDA less capex.(2) FCF conversion rate defined as Adjusted EBITDA less capex divided by Adjusted EBITDA.(3) Senior Notes and Term Loan were redeemed in February 2018 and replaced with a single $415M Term Loan due 2025.

Flexible balance sheetStrong unlevered pre-tax free cash flow generation(1)

Commentary

Operating leverage continues to drive improved free cash flow and increasing conversion rate

Business process improvement, advanced manufacturing and back office consolidation of Engineering and Drafting resources to drive additional savings

Minimal maintenance capex as a % of sales

Ample liquidity to support future investments(M&A and capital projects with attractive returns)

Demonstrated commitment to debt reduction

History of returning cash to investors

(1) (2)

Cash $12

Revolver ($150mm) 10Senior secured term loan (4.00%) 144 Jun-22Total secured debt $154

Senior unsecured notes (8.25%) 250 Jan-23Total debt $404Net debt $392

LTM 1/28/18 Adjusted EBITDA $174

Net debt / LTM Adjusted EBITDA 2.25x

(3)


26

Appendix

Our Mission & VisionHistorical EBITDA and Dodge Low-Rise Construction Starts

27

Adj

uste

d EB

ITD

A (i

n m

illio

ns)

Dod

ge D

ata

and

Ana

lyti

cs F

Y Lo

w-R

ise

Star

ts(in

mill

ions

)

$176

$201

$45

$16 $36

$77 $71 $75

$130

$166 $167 $174

1,499

1,283

767 617 621

675 744

848 901

962 976

-

200

400

600

800

1,000

1,200

1,400

1,600

$0

$50

$100

$150

$200

$250

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18TTM

1H EBITDA 2H EBITDA Dodge Data and Analytics FY Low-Rise Starts

Note: Data shown based on NCI fiscal year-end. Adjusted EBITDA is a non-GAAP measure. See Appendix for reconciliation.


28

Reconciliation of Adjusted EBITDA

Consolidated

(1) Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit) and depreciation and amortization, adjusted for items broadly consisting of selected items which management does not consider representative of ongoing operations and certain non-cash items of the Company, including charges for goodwill and other asset impairment and stock compensation. As such, the historical information is presented above in accordance with this definition. The Company discloses Adjusted EBITDA, which is a non-GAAP measure, because it is used by management and provided to investors to provide comparability of underlying operational results.

Note: Data shown based on NCI fiscal year-end.

($ in millions)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1-18 TTMNet income (loss) $58.6 $73.3 ($750.8) ($26.9) ($10.0) $4.9 ($12.9) $11.2 $17.8 $51.0 $54.7 $57.9

Income taxes 37.9 48.0 (56.9) (13.3) (6.4) 4.1 (8.9) 1.5 9.0 27.9 28.4 28.3Interest expense, net 36.5 31.5 28.9 17.8 15.6 16.7 20.9 12.3 28.4 30.9 28.7 29.2Depreciation & amortization 34.7 34.8 32.0 29.8 28.4 29.6 36.0 35.9 51.4 41.9 41.3 41.4Stock-based compensation 8.6 9.5 4.8 5.0 6.9 9.3 14.9 10.2 9.4 10.9 10.2 9.5Goodwill & other intangible asset impairment – – 622.6 – – – – – – – 6.6 6.0Restructuring and impairment charges – 1.2 15.3 4.6 0.8 (0.0) – – 11.4 4.3 4.7 5.6Transaction costs – – 108.7 (0.1) – 6.4 – – – – – –Lower of cost or market adjustment – 2.7 40.0 – – – – – – – – –Executive retirement – – – – – 0.5 – – – – – –Debt extinguishment costs, net – – – – – – 21.5 – – – – –(Gain) on insurance recovery – – – – – – (1.0) (1.3) – – – (9.7)Secondary offering costs – – – – – – – 0.8 – – – –Strategic development and acquisition related costs – – – – – 5.0 – 5.0 4.2 2.7 2.0 6.9Unreimbursed business interruption costs – – – – – – 0.5 – – – 0.5 0.5Embedded derivative – – – (0.9) (0.0) (0.0) (0.1) – – – – –Pre-acquisition contingency adjustment – – – 0.2 0.3 – – – – – – –Fair value adjustment of acquired inventory – – – – – – – – 2.4 – – –(Gain) from legal settlements – – – – – – – – (3.8) – – –(Gain) on bargain purchase – – – – – – – – – (1.9) – –(Gain) loss on sale of assets and asset recovery – – – – – – – – – (1.6) 0.1 (1.3)(Gain) on insurance recovery – – – – – – – – – – (9.7) –

Adjusted EBITDA(1) $176.2 $201.0 $44.6 $16.1 $35.6 $76.5 $70.9 $75.5 $130.1 $166.1 $167.5 $174.2


29

Reconciliation of Adjusted EBITDA (quarterly)

Consolidated

(1) Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit) and depreciation and amortization, adjusted for items broadly consisting of selected items which management does not consider representative of ongoing operations and certain non-cash items of the Company, including charges for goodwill and other asset impairment and stock compensation. As such, the historical information is presented above in accordance with this definition. The Company discloses Adjusted EBITDA, which is a non-GAAP measure, because it is used by management and provided to investors to provide comparability of underlying operational results.

Note: Data shown based on NCI fiscal year-end.

($ in millions)

Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18Net income (loss) ($0.3) ($7.5) $7.2 $18.4 $5.9 $2.4 $23.7 $19.0 $2.0 $17.0 $18.2 $17.5 $5.2

Income taxes (0.5) (4.1) 3.5 10.0 2.5 1.2 11.6 12.6 1.3 8.6 9.8 8.7 1.1Interest expense, net 4.0 8.3 8.1 8.0 7.8 7.8 7.7 7.5 6.9 7.3 7.4 7.1 7.5Depreciation & amortization 9.7 13.8 14.5 13.4 10.7 10.8 10.6 9.8 10.3 10.1 10.3 10.7 10.4Stock-based compensation 2.9 2.2 2.6 1.7 2.6 2.5 2.7 3.2 3.0 2.8 2.3 2.1 2.3Restructuring and impairment charges 1.5 1.8 0.5 7.6 1.5 1.1 0.8 0.8 2.3 0.3 1.0 1.7 2.5(Gain) on insurance recovery – – – – – – – – – (9.6) (0.1) – –Goodwill impairment – – – – – – – – – – – 6.0 –Strategic development and acquisition related costs 1.7 0.6 0.7 1.1 0.7 0.6 0.8 0.6 0.4 0.1 1.3 0.2 5.3Fair value adjustment of acquired inventory 0.6 0.8 1.0 – – – – – – – – – –(Gain) from legal settlements – – – (3.8) – – – – – – – – –(Gain) on bargain purchase – – – – (1.9) – – – – – – – –(Gain) Loss on sale of assets and asset recovery – – – – (0.7) (0.9) (0.1) 0.1 – 0.1 – – (1.4)Unreimbursed business interruption costs – – – – – – – – – 0.2 0.2 0.0 –

Adjusted EBITDA(1) $19.6 $15.8 $38.2 $56.4 $29.1 $25.5 $57.8 $53.7 $26.2 $37.0 $50.4 $53.9 $32.9


K. DARCEY MATTHEWSVice President, Investor Relations

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