Investor Presentaiton

AAON® Historical Financial Performance Gross Margin 30.5% 30.3% 25.4% 25.8% 26.7% 23.9% 2017 2018 2019 2020 2021 2022 Net Sales ($M) and % Increase $888.8 $405.2 $434.0 $469.3 $514.6 $534.5 5.5% 7.1% 8.2% 9.6% 3.9% 66.3% 2017 2018 2019 2020 2021 2022 Three Distinguishable Periods Since 2017 2017 Pre-Leadership Transition - 30%+ gross margin Slow organic growth 2018-2020 Transition Improving from sub-par gross margin back to 30%+ Acceleration in sales Robust acceleration in bookings Large capex investments for capacity expansion 2021-2022 Pandemic and Post-Pandemic - Hyperinflation pressuring gross margin Acquisition of BASX Strategic changes in leadership 99 99

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