Driving Growth and Transformation in Agriculture Technology

Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures December 26, 2020 Operating Income Reconciliation Valmont Fifty-two weeks ended Fifty-two weeks ended December 28, 2019 Valmont Operating income - as reported 225,953 227,905 Prospera intangible asset amortization 16,638 Stock-based compensation - Prospera 25,871 Adjusted Operating Income S Net Sales - as reported 268,462 2,895,355 S 227,905 2,766,976 Operating Income as a % of Net Sales Adj. Operating Income as a % of Net Sales 7.8% 9.3% 8.2% 8.2% CONSERVING RESOURCES. IMPROVING LIFE. Valmont 106

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