Investor Presentation

Divestiture of AZZ Infrastructure Solutions ("AIS") Allows AZZ to focus purely on Metal Coatings Transaction Overview ■ Divested legacy AZZ Infrastructure Solutions Segment ("AIS") ■Sold to Fernweh Group LLC, a PE firm founded by McKinsey alums ■ AIS moved to Discontinued Operations FY2023 financials reflect as realized results Equity income under GAAP accounting [but to be excluded from go-forward guidance] Z Key Figures $300M TEV $228M 40% Stake Cash Proceeds ($72M Value at Close) 8.1x LTM EBITDA September 30, 2022 INVESTOR PRESENTATION 27

View entire presentation