Tecnoglass : November 2024 General Investor Presentation

TGLS

Tecnoglass (NYSE: TGLS) Investor Presentation

November 2024

www.tecnoglass.com

Disclaimer

Disclaimer

This presentation (including any information which has been or may be supplied in writing or orally in connection herewith or in connection with any further inquiries, this "Presentation") contains information regarding Tecnoglass Inc. and its subsidiaries, as applicable, where it holds a direct or indirect interest (together "Tecnoglass" or the "Company") that is confidential and proprietary to the Company. We have prepared this document solely for informational purposes. You should not definitively rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. By participating in this Presentation, each participant agrees to the terms hereof, as follows: Each participant will and will cause its directors, officers, employees, affiliates, agents, advisors and representatives to use the information contained in this Presentation only to evaluate the proposed transaction in respect of the Company and may not communicate, reproduce, distribute or disclose it to any other person, or refer to it publicly, in whole or in part at any time except with our prior written consent. If you are not the intended recipient of this document, please delete and destroy all copies immediately.

Neither the Company nor any of its representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this Presentation, and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. Only those representations and warranties that are made in a definitive written agreement relating to a transaction in respect of the Company, when and if executed, and subject to any limitations and restrictions as may be specified in such definitive agreement, shall have any legal effect.

This Presentation does not purport to contain all of the information that may be required to evaluate a potential transaction in respect of the Company, and any person participating in this Presentation should conduct its own independent investigation and analysis.

Forward Looking Statements

This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. including statements regarding future financial performance. future growth and future acquisitions. These statements are based on Tecnoglass' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic. business. competitive and/or regulatory factors. and other risks and uncertainties affecting the operation of Tecnoglass' business. These risks. uncertainties and contingencies are indicated from time to time in Tecnoglass' filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further. investors should keep in mind that Tecnoglass' financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to. and expressly disclaims any obligation to. update or alter its forward-looking statements. whether as a result of new information. future events. changes in assumptions or otherwise.

Financial Presentation

Certain of the financial information contained herein is unaudited and does not conform to SEC Regulation S-X. Furthermore. it includes EBITDA (earnings before interest. taxes depreciation and amortization) which is a non-GAAP financial measure as defined by Regulation G promulgated by the SEC under the Securities Act of 1933. as amended. Accordingly, such information may be materially different when presented in Tecnoglass' filings with the Securities and Exchange Commission. Tecnoglass believes that the presentation of this non-GAAP financial measure provides information that is useful to investors as it indicates more clearly the ability of Tecnoglass to meet capital expenditures and working capital requirements and otherwise meet its obligations as they become due. EBITDA was derived by taking earnings before interest. taxes. depreciation and amortization as adjusted for certain one-time non-recurring items and exclusions.

No offer or solicitation

This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction. nor shall there be any sale. issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. as amended.

Investor Presentation | November 2024

2

Tecnoglass at a Glance

Key Stats

Miami, FL

~9,000

$3.2 B

Global Headquarter

Employees

Market Cap

at Q3'24

$845 MM

~17%

$1.04 B

LTM Q3'24 Revenue

2012 - LTM Q3'24

Backlog

Revenue CAGR

$259 MM

~31%

~24%

LTM Q3'24 Adj.

LTM Q3'24

2012 - LTM Q3'24

EBITDA(1)

Adjusted

Adjusted EBITDA(1)

EBITDA(1) Margin

CAGR

Leading Position in U.S. Market

U.S. End Market Mix

U.S. LatAm/Other

SF Residential

Multi-Family/ Commercial

5%

Total

Total U.S.

42%

Revenues

58%

Revenues

LTM Q3'24

LTM Q3'24

95%

Attractive Portfolio of Well-Positioned Brands

Tecnoglass is a leading architectural glass manufacturer with vertically integrated operations under one roof

Notes:

1. Adjusted EBITDA excludes non-recurring and non-cash expenses mainly associated with non-cash foreign exchange transaction gains or losses, non-recurring professional fees and other non-core items, and include the proportional contribution of the Company's joint venture with Saint-Gobain.

Investor Presentation | November 2024

3

Global Leader in Architectural Windows and Glass

Supplying Architectural Glass Products to Landmark Properties in the U.S. and Latin America

Leading global manufacturer, distributor and installer of high-spec architectural windows and glass for residential and multi-family / commercial applications with leadership position in the U.S. market

40-year track record of product innovation and high-quality standards

Broad portfolio serving a well-diversified base of nearly 1,000 customers

Vertically integrated, state-of‐the‐art manufacturing complex with significant recent capital investments

Strategic, cost-efficient business model provides a significant structural competitive advantage and high barriers to entry

Highly skilled, dedicated employee base led by an experienced management team

Double-digit organic growth CAGR over past decade with industry-leading margins

Over 85% of revenues considered green revenues, contributing to reducing global emissions and mitigating climate change effects

TGLS Successful Geographic Expansion in the U.S.

Operational Showrooms

Expected 2025 Openings

Significant presence

Developing Presence

Emerging Presence

Investor Presentation | November 2024

4

Built-to-Suit Innovative Products Pacing Ahead of Evolving Industry Trends

Tecnoglass' High-Quality Products and Exceptional Customer Service Allow it to Better Serve Customers and Support Organic Growth in Each of Our End Markets

Multi-Family / Commercial Markets:

Curtain Walls and Other Architectural Systems such as windows, doors, window walls, storefronts, railings, louvers and new vinyl product line

Aluminum products for architectural glass settings: bars, plates, profiles, rods, and tubes

Single-Family Residential Specialty Brands:

High performance energy-efficient Low-E and impact-resistant aluminum and vinyl Windows and Doors meeting demanding security, strength, and durability standards

Glass Technology

Features:

Low-emissivity

Tempered

glass (Low-E)

Glass

Blast Resistant

Laminated

Insulated Glass

Hurricane Resistant

Glass

Thermally Broken

Digital Print

Silkscreen glass

Glass

The Prestige residential line offers meticulously crafted luxury windows and doors with superior quality and style

E-Line offers homeowners comfort, high design, and superior thermal performance

Multimax product line specifically targeting large scale homebuilders, legacy and new dealers in Florida

Investor Presentation | November 2024

5

Evolution of Revenue & Adjusted EBITDA

Key Milestones

900.0

800.0

700.0

Revenue & Adj. EBITDA

400.0

Delivering Double-Digit Organic CAGR

833.3

350.0

716.6

2013

2015

2017

2019

Became public

Investment in top-class manufacturing facility to produce high-spec insulated glass

Entered into the single-family residential market in the U.S., now accounting for 43% of total U.S. sales

Entered into JV agreement with Saint Gobain for secure float glass supply

600.0

500.0

Revenue CAGR '13 - '23: 16.3%

Adj. EBITDA CAGR '13 - '23: 23.4%

300.0

304.1

265.7

250.0

496.8

2020

Investments in automation began, $25 mm of Capex invested during 2019

Automation investments became operational

COVID-19 Pandemic

400.0

300.0

200.0

100.0

0.0

430.9200.0

371.0

376.6

314.5

150.3

150.0

305.0

242.2

197.5

97.5

183.3

100.0

80.8

92.4

72.0

57.162.0

50.0

37.3 37.2

0.0

2021

2022

2023

Introduction of Multimax products oriented towards production homebuilders

Sales reps in expanding geographies building relationships with targeted general contractors, developers, architects & glazers

Opening of new showrooms in expanding geographies (NYC, Charleston, Houston now operational)

Revenue increase of 44% YoY at the higher end of guidance; gross margin up ~790 bps

Installed capacity reaches approx. $1.2 B

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Revenues

Adjusted EBITDA

Entered into vinyl windows market, more than doubling addressable market Relocated Global Headquarters from Colombia to Miami, Florida Completed nearly half of $50 mm Buyback Program

2024 Record backlog of $1.04 B, up ~25% YoY

Investor Presentation | November 2024

6

Seven Oaks East|

Austin, Texas

Investor Presentation | November 2024

Why Invest in Tecnoglass

Key Investment Highlights

5 | Committed to ESG Principles

7

Impressive Track Record of Organic Revenue Growth in the U.S. Multi-Family / Commercial and Residential Markets

TGLS Revenue by Country

Total Sales

• U.S. revenues continue to represent the majority of sales, contributing ~96% and

94% of total revenues and total backlog as of Q3'24

900

845

• The Company has ~1,000 customers, mostly located in North America, without any

one customer exceeding 10% of revenues

800

717

700

600

497

500

431

377

314

371

400

305

300

197

242

183

200

100

0

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

LTM

Q3'24

Other

Colombia

United States

Vast Market Opportunity1

Single-Family Residential Contributing to Strong Revenues

845

850.0

750.0

717

650.0

498

489

550.0

497

410

431

450.0

371

377

350.0

314

319

250.0

365

305

334

356

335

150.0

307

306

177

50.0

66

71

16%

$40 B

20% 2022

64%

US Market Size: $40bn

TGLS U.S. Share : Top-5

Windows

Architectural

Glass

Windows

Installation

7

37

(50.0)

2017

2018

2019

2020

2021

2022

2023

LTM Q3'24

SF Residential

Multi-Family/Commercial

Continued growth into the single-family residential market through showroom

openings across expanding geographic footprint (NYC and Charleston, SC and

Houston, TX now operational), with two more showrooms planned by the end of

2024, along with the introduction of new and innovative products

Long term strategy continues to be supported by an expanding dealer base in

underpenetrated geographies and geographic expansion within the Southeast

and Southcentral U.S.

Notes:

1. External sources include IBISWorld, Fenestration and Glazing Industry Alliance (FGIA), Insight Partners and Arizton Advisory and Intelligence

Investor Presentation | November 2024

8

Effectively Positioned to Further Penetrate the Attractive U.S. Market With Demonstrated History of Converting Backlog to Revenue

Backlog by End Market

3% 3%

Multifamily /

Residential Related

13%

Commercial

38%

62%

$1.04 bn

Backlog primarily

Q3'24

19%

62%

consists of

residential related

projects which were

less impacted by

COVID-19

Backlog to Revenue Conversion

106%

108%

104%

98%

100%

106%

114%

110%

111%

107%

105%

102%

100%

95%

92%

90%

87%

88%

88%

89%

93%

86%

75%

millions

69%

70%

73%

72%

71%

66%

60%

70%

73%

69%

64%

63%

64%

64%

61%

63%

58%

56%

59%

60%

58%

55%

57%

1,021

1,041

$

836

870

916

776

797

697

725

651

668

552

559

576

585

501

497

506

515

518

525

532

542

546

550

536

545

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Q4'20

Q1'21

Q2'21

Q3'21

Q4'21

Q1'22

Q2'22

Q3'22

Q4'22

Q1'23

Q2'23

Q3'23

Q4'23

Q1'24

Q2'24

Q3'24

Total Backlog

Multi-Family / Commercial Revenue Next 12M as % of Backlog

Multi-Family / Commercial Revenue Next 18M as % of Backlog

Note: Excludes Single-family Residential

Historically, ~65% of multi- family and commercial revenue in backlog rolls off within 12 months and ~99% of the backlog rolls off within 18 months. This dynamic provides strong backing to support double digit revenue growth in 2024

Investor Presentation | November 2024

9

Recent Strategic Entry into Vinyl Windows More than Doubles Addressable Market

Significant Addressable Market Potential1

Operational Update

3%

2%

20%

Vinyl

~$26 B

Wood

Aluminum

U.S. Architectural

Windows Market

Fiberglass

12%

63%

Other

Current vinyl window operating capacity

represents an

estimated $300 million in annual revenues over time

• Strong quoting activity YTD, leveraging the network of approximately 60 legacy dealers in central and northern Florida which already carried both aluminum & vinyl products, providing a faster ramp-up opportunity vs. the legacy aluminum line with new distributors signed in northern Florida in 2024

Notes:

10

1.

External sources include IBISWorld, Fenestration and Glazing Industry Alliance (FGIA), Insight Partners and Arizton Advisory and Intelligence

Disclaimer

Tecnoglass Inc. published this content on November 11, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 11, 2024 at 03:42:02.979.