Driving Growth and Transformation in Agriculture Technology
Built Exceptionally Strong, Flexible Balance Sheet
with Ample Liquidity
April 1, 2023
Total Debt ($M) and
Total Debt to Adj. EBITDA¹
Cash
$173 M
Total Long-Term Debt
$986 M
$1,025
$965
$878
Shareholders' Equity
$1,598 M
$787
$766
Total Debt to
1.7x
Adj. EBITDA¹
Liquidity
2.4x
2.2x
2.1x
1.7x
1.5x
Available Credit under
$544 M
Revolving Credit Facility2
Total Available Liquidity
$717 M
2019
2020
2021
2022
Q1'233
C+
Well-Positioned for
Future Growth
Long-term debt mostly fixed-rate,
with long-dated maturities to 2044
and 2054; Investment grade credit
rating from Fitch, Moody's, and
S&P
Total Debt to Adjusted EBITDA
remains within our desired range
of 1.5 to 2.5 times
Capital allocation strategy
focused on strategically supporting
business growth
CONSERVING RESOURCES. IMPROVING LIFE: Valmont
1 See appendix for calculation of Adjusted EBITDA and Leverage Ratio. 2 $800M Total Revolver less borrowings and Standby LC's of $256M. 3 Includes unamortized discount costs and debt issuance costs
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