M tron Industries : May 2026 Investor Day Presentation

Published: 2026-05-13 09:10:25 ET MPTI

Published on 05/13/2026 at 09:10 am EDT

Investor Day

May 12, 2026

Mtron Overview

Mtron (NYSE AM: MPTI) is a NYSE American publicly traded corporation

Formed in 1965

Aerospace and Defense Focused Since 2004 Acquisition

Listed NYSEAM in October 2022 via Spin Off at ~$13 ( $10.85-$85.95 Range)

4.3 mm Shares Outstanding1, No Debt, and Free Cash Flow Generation

Raised $70 mm over past six months and has approx. $94 mm1 of cash on the B/S

Broad employee ownership to align interest with shareholders

Mtron Profile

American Defense Contractor in High Growth Niche Markets

Specialist in Robust Engineered Microwave & RF Applications

One of the few vertically integrated RF companies in the US

Positioned to access long term value creation opportunities

Platform for Growth Through Mergers and Acquisitions

1 After close of the Rights Offering on 4/27/2026.

Investment Highlights

Strong revenue growth and cash generation

Attractive end markets with long-term contracts and loyal customers

Unique capability to manufacture in U.S. for mission critical supply chains

Compelling financials with organic and inorganic growth strategy

Have production capacity and management team to support continued growth

Mtron At A Glance

Vertically Integrated RF Solutions

Highly-engineered, high reliability precision components and solutions including Filters, Oscillators, Resonators, and Innovative RF Solutions

Blue-Chip Customer Base

Diverse global customer base including industry leaders in the Aerospace & Defense, Avionics, Space, and Industrials sectors

Strong Market Performance

Delivering strong returns to shareholders of 561% since spin-off on October 7, 2022, indicative of our unique strategy and strong execution

Source: Company data

Management Team and Board

Tenured Management Team and Board Provides Mtron with Decades of Experience and Leadership

Senior Management Team

Cameron Pforr

Chief Executive Officer & Chief Financial Officer

Linda Biles

Executive Vice President, Finance

William Drafts

President

Non-Executive Board Members

Bel Lazar

Co-Chairman

Marc Gabelli

Co-Chairman

Chief Executive Officer

Gabelli Securities International Ltd

Director

SVP & Portfolio Manager, Gabelli Funds

Director Managing Partner Aston Capital

John Mega

Lead Independent Director

Former SVP and President L3's Communication Systems

David Goldman

Director

General Counsel

GAMCO Asset Management, Inc.

Ivan Arteaga

Director

Chief Investment Officer Arteaga Capital Management

A History of Leadership and Innovation

For Over 60 Years, Mtron Has Been a Leader in Supporting Advanced Electronics

2024

Mtron launches its first space -borne IMA

2022

Mtron launches Planar Filter Product Line and High frequency, low noise OCXO family

2017

Mtron introduces its first electronical vibration compensated OCXO

2002

Mtron purchases assets of Champion Technologies (formerly Motorola) adding VCXO, TCXO and timing solutions

1973

PTI supplies the first monolithic filters used in space

2022

Mtron completes separation from The LGL Group, Inc., becoming an independent,

publicly traded company

2020

Mtron launches Integrated Microwave

Assembly (IMA)

2004

Mtron acquires PTI

1976

Lynch Corporation (predecessor to The LGL Group, Inc.) acquires Mtron

1965

Mtron and Piezo Technology (PTI) are organized separately

Mtron At A Glance

Filters (LC, Cavity, Planar, Crystal)

Oscillators (XO, TCXO, VCXO, OCXO)

Crystal Resonators and Solutions

8.1%

4.0%

22.7%

65.2%

FY2025:

Aerospace & Defense Avionics

Space Industrials

7.0%

27.5%

65.5%

FY2025:

Filters Oscillators

Resonators & Solutions

Strategically Targeting Larger Opportunities

Strong Customer Relationships for Robust Solutions

Tailored New Products 25-30% Sales 3

Number of Products >$500k Annually Increased 50%

79% Increase in Program Business Since 2021

Trailing 12 months ended and as of March 31, 2026

Management Estimated Ranges based on historical averages; Five year Revenue CAGR was 12.6% from 2020-2025; Adjusted EBITDA Range before Non Cash charges and one time expenses

Revenue from products introduced in the last 4 years was 30.4% 8

Source: Company data

s56.4mm 44.9%

Sales1 Gross Margin1

s76.8mm Backlog1

12.6% 19-23%

Revenue CAGR2 Adj EBITDA Margins2

60-80%

FCF Conversion2

Unique Product Portfolio...

Applications within Avionics, Space, Communications, Electronic Warfare, Instrumentation, and Radars

Vertically integrated into crystal filters and oscillators

Resonators

Applications within Avionics, Space, Communications, Electronic Warfare, Instrumentation, and Radar

Products include Crystal, LC, Cavity, Planar, Waveguide, Ceramic, Duplexer, Multiplexer and Switched Filters

Filters

FY'25 Revenue Split by Product

Filters

Oscillators

Other

7.0%

27.5%

65.5%

Spanning frequencies from 10MHz to 50GHz, multiple components integrated into SWaP-C assemblies

Innovative RF Solutions

Applications within Avionics, Communications, Electronic Warfare, Instrumentation, and Radar

Products include XO, TCXO, VCXO, OCXO, e-VibeTM OCXO

Oscillators

Source: Company data

Why are Mtron's oscillators selected?

Low drift enhances faster and error-free transmission

Ultra-low phase noise enables clearer, more reliable data transmission

Best In-Class Phase Noise

Communication and Data Transmission Systems

Low drift improves accuracy of radar measurements

Reduced phase noise improves radar detection of slower and smaller objects

World's Best Performance Vibration ImmuneOCXO

Radar

Low drift maximizes synchronization of multiple components within a communication system

World Class Drift Performance

Control Systems

Smallest Hi-Frequency OCXO Available

High stability improves jamming, deception, and intelligence gathering

Electronic Warfare (EW) Systems

Ultra-low phase noise, low drift oscillators in various product families (XO, TCXO, VCXO, TCVCXO, OCXO) allow customers to design superior performance products

Why are Mtron's filters important?

Communication and Data Transmission Systems

Electronic Warfare (EW) Systems

Radar

Higher frequency enhances faster and

error-free transmission

High selectivity improves jamming,

deception, and intelligence gathering

High selectivity improves accuracy of

radar measurements

Low insertion loss enables clearer, more

reliable data transmission

Reduced insertion loss improves radar

detection of slower and smaller objects

Low insertion loss, high frequency, low profile, highly selective filters in various product families (Crystal, Waveguide, Ceramic, LC, Cavity, Planar, Switched) allow customers to design superior products

Why customers are requesting Mtron provide solutions?

Mtronuses the same circuit, electromagnetic, mechanical, thermal, and stress analysis modeling tools as our customers, which is effortlessly integrated into the customer's system synthesis

Design collaboration acts an extension of the customer'sdesign team and allows our customer's resources to focus on their areas of expertise

Utilizesseveral in-house rapid prototyping methods to speed development with a fast-fail approach

The result of having Mtronfocus on the design concept, prototypedevelopment, and transition to full rate production is ashortened design cycle and a fastertime to market

Custom integration offersadditional benefits of enhanced system performance, fewer interfaces, compact mechanical packaging, less individual components, and reduced test and integrationtimes

New Product Development

Increased R&D and Capex Spend Drive Organic Topline Growth in the Near-Term

Constant Innovation with Strategic Targeting of Larger Opportunities

~30% of FY'25 Revenue comes from products introduced since 2021

New product development is a key component of strategy with development tailored to deepen customer relationships

Number of products >$500k annually increased ~50%

35.2% increase in ASP since 2021

New Product Revenue ($M)

$110.58

$113.73

$54.4

$92.19

$49.0

$84.11

$73.54

$41.2

$31.8

$26.7

$9.5

(~36%)

$9.0

(~28%)

$11.4

(~28%)

$14.9

(~30%)

$16.5

(~30%)

$9.5

$9.0

$11.4

$14.9

$16.5

FY'21A FY'22A FY'23A FY'24A FY'25A

Precision-Guided Munitions

Radar

Electronic Warfare

Commercial Aerospace

UAV / Drones

Space & SATCOM

U.S. DoW Rewriting Procurement Rules

Modern Conflicts Are Driving Increased Demand for Advanced Weapons Systems

Modern warfare based on sensors, ai, control of electromagnetic spectrum, autonomous systems and precision munitions

Missile and precision weapon usage has exceeded years of historical production capacity

Manufacturing infrastructure designed for lower peacetime procurement volumes

U.S. and allied forces focusing on stockpile replenishment and expansion

Increasing importance of networked battlefield systems and integrated

targeting capabilities

Technology Driving Rapid Change

Contracting long-term agreements to dramatically expand production capacity for precision-guided weapons

Accelerating industrial base expansion

DoW supporting development of more nimble suppliers

Increasing investment in networked communications and targeting systems

U.S. DoW Response

Defense contractors may benefit from:

Higher production volumes

Longer production contracts

Sustained investment in advanced defense technologies

Greater DoW support for innovative small to mid-tier players

Implications for Defense Suppliers

Structural increase in defense production capacity is expected to drive demand across the defense supply chain.

Munitions Depletion is Real

CSIS study on Munitions Depletion Highlights Pressure on US Stockpile

Iran conflict has cost US dearly in several critical munitions

CSIS team and others tracking usage of critical munitions and estimating time required to replenish

US Defense Industrial Base not currently capable of producing in volumes required for

Under Secretary Feinberg's 7-year missile contracts moving in right direction to stimulate investment required

Mtron is key supplier to many of these programs and should benefit long-term from this renewed focus

Source: CSIS Study "Last Rounds? Status of Key Munitions at the Iran War Ceasefire," April 2026

Pinpoint Missile Accuracy with Superior Electronic Technology

Defense agencies are focusing on high-performance, precision strike weapons that have farther standoff, multi-mode seekers, robust guidance systems, and less time for target selection with less collateral damage

MPTI has several design wins for clocks, oscillators, and filters within various Missile Defense Programs

Radar Guided

OCXO, TCXO and LC Filter

Missile Data Links

LC Filter and Crystal Filter

Laser and Electro-Optically Guided

Clock Oscillator and TCXO

Some Missile Programs average approximately s10,000 of Mtron content per missile

Source: Company data

Precision Surveillance Technology to Ensure Security

Hypersonic missiles and drones require highly advanced radars which drive the need for high-performing filters and oscillators

Both commercial and military aircraft utilize Mtron components on their on- board radars

Transmitter

LC Filter, Cavity Filter, Waveguide Filter

Receiver

LC Filter and Crystal Filter

Signal Processing

TCXO, OCXO and Crystal Resonator

Pathto Antenna

Duplexer, Diplexer, Multiplexer, Cavity Filter, Waveguide Filter, LC Filter

Master Clock

LC Filter and Crystal Filter

Radar systems use between s700 and s9,000 of Mtron content per system.

Product Applications: Electronic Warfare

High Reliability Timing, Spectrum & Frequency Control

Current Electronic Warfare systems face the challenge of operating in a more congested RF environment, requiring rugged and precise devices and solutions

The DoD requested $842B in its FY'24 budget to support hundreds of Electronic Warfare programs, all of which can utilize MPTI's precise resonators, clocks, oscillators, and filters

Pathto Antenna

Duplexer, Diplexer, Multiplexer, Cavity Filter, Waveguide Filter, LC Filter

Transmitter

LC Filter, Cavity Filter, Waveguide Filter, Power Amplifier

Receiver

LC Filter and Crystal Filter

Signal Processing

TCXO, OCXO and Crystal Resonator

Master Clock

OCXO/TCXO

Product Applications: Commercial Aerospace

Platform Flexibility with Multiple Touchpoints

~16 design slots on nearly every Boeing and Airbus commercial airplane

Provides rugged, proven, reliable oscillators, clocks, and filters in numerous applications, from flight control to navigation

Serves multiple end-markets including smaller regional and business jet markets

Flight Control (Fly-by-wire)

Clock Oscillator

Emergency Beacon System

OCXO

InFlight Connectivity

Clock Oscillator

Pilot Communications

TCXO, LC Filter, Crystal Filter

Instrument Landing Systems (ILS)

Clock Oscillator

Navigation Radar

TCXO and LC Filter

Engine Control

Clock Oscillator

Radio Altimeter

Cavity Filter, LC Filter, Ceramic Filter and TCXO

Traffic Collision Avoidance System (TCAS)

Clock Oscillator, TCXO, OCXO, LC Filter

Average Mtron content per airplane - approximately s7,000

Disclaimer

M-Tron Industries Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 13:09 UTC.