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TriMas Corporation
Supplemental Business Segment Financial Information - As Previously Reported
(Unaudited - dollars in thousands)
2025 quarterly periods ended
March 31June 30September 30
Packaging
Net sales$127,570 $143,010 $135,700 
Operating profit$17,240 $19,990 $16,290 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs580 440 1,900 
Adjusted operating profit$17,820 $20,430 $18,190 
Aerospace
Net sales$89,210 $103,010 $103,240 
Operating profit$15,070 $20,140 $20,200 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs— — 820 
Purchase accounting costs160 510 530 
Adjusted operating profit$15,230 $20,650 $21,550 
Specialty Products
Net sales$24,890 $28,740 $30,320 
Operating profit (loss)$(1,150)$1,260 $2,370 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs1,240 — — 
Adjusted operating profit$90 $1,260 $2,370 
Corporate Expenses
Operating loss$(9,380)$(14,260)$(22,270)
Special Items to consider in evaluating operating loss:
Asbestos-related costs— — 8,030 
M&A diligence and transaction costs300 30 60 
System implementation costs920 1,440 1,940 
Business restructuring and severance costs4,720 2,230 550 
Gain on sale of Arrow Engine(5,300)— (80)
Adjusted operating loss$(8,740)$(10,560)$(11,770)
Total Company
Net sales$241,670 $274,760 $269,260 
Operating profit$21,780 $27,130 $16,590 
Total Special Items to consider in evaluating operating profit2,620 4,650 13,750 
Adjusted operating profit$24,400 $31,780 $30,340 

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TriMas Corporation
Supplemental Business Segment Financial Information - Recast for Aerospace Discontinued Operations
(Unaudited - dollars in thousands)
2025 quarterly periods ended
March 31June 30September 30December 31Year ended December 31, 2025
Packaging
Net sales$127,570 $143,010 $135,700 $129,260 $535,540 
Operating profit$17,240 $19,990 $16,290 $14,620 $68,140 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs580 440 1,900 350 3,270 
Adjusted operating profit$17,820 $20,430 $18,190 $14,970 $71,410 
Specialty Products
Net sales$24,890 $28,740 $30,320 $26,230 $110,180 
Operating profit (loss)$(1,150)$1,260 $2,370 $1,710 $4,190 
Special Items to consider in evaluating operating profit:
Business restructuring and severance costs1,240 — — — 1,240 
Adjusted operating profit$90 $1,260 $2,370 $1,710 $5,430 
Corporate Expenses
Operating profit (loss)$(8,940)$(13,860)$(21,840)$13,610 $(31,030)
Special Items to consider in evaluating operating loss:
Asbestos-related costs— — 8,030 (35,800)(27,770)
Change in environmental liability— — — 6,500 6,500 
M&A diligence and transaction costs300 30 60 240 630 
System implementation costs920 1,440 1,940 1,980 6,280 
Business restructuring and severance costs4,720 2,230 550 780 8,280 
Gain on sale of Arrow Engine(5,300)— (80)— (5,380)
Adjusted operating loss$(8,300)$(10,160)$(11,340)$(12,690)$(42,490)
Total Company
Net sales$152,460 $171,750 $166,020 $155,490 $645,720 
Operating profit (loss)$7,150 $7,390 $(3,180)$29,940 $41,300 
Total Special Items to consider in evaluating operating profit2,460 4,140 12,400 (25,950)(6,950)
Adjusted operating profit$9,610 $11,530 $9,220 $3,990 $34,350 

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TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures - As Previously Reported
(Unaudited - dollars in thousands, except share and per share amounts)
2025 quarterly periods endedNine months ended September 30, 2025
March 31June 30September 30
Income from continuing operations, as previously reported$12,420 $16,720 $9,300 $38,440 
Special Items to consider in evaluating quality of income from continuing operations:
Asbestos-related costs— — 8,030 8,030 
Business restructuring and severance costs6,540 2,670 3,270 12,480 
Purchase accounting costs160 510 530 1,200 
M&A diligence and transaction costs300 30 60 390 
System implementation costs920 1,440 1,940 4,300 
Write-off of deferred financing fees100 — — 100 
Gain on sale of Arrow Engine(5,300)— (80)(5,380)
Amortization of acquisition-related intangible assets4,190 4,350 4,400 12,940 
Non-cash compensation expense1,490 2,010 3,300 6,800 
Income tax effect of net income adjustments(1)
(1,980)(2,660)(5,660)(10,300)
Adjusted income from continuing operations$18,840 $25,070 $25,090 $69,000 
2025 quarterly periods endedNine months ended September 30, 2025
March 31June 30September 30
Diluted earnings per share from continuing operations, as previously reported$0.30 $0.41 $0.23 $0.94 
Special Items to consider in evaluating quality of EPS from continuing operations:
Asbestos-related costs— — 0.19 0.19 
Business restructuring and severance costs0.16 0.06 0.08 0.30 
Purchase accounting costs0.01 0.01 0.01 0.03 
M&A diligence and transaction costs0.01 — — 0.01 
System implementation costs0.02 0.04 0.05 0.10 
Write-off of deferred financing fees— — — — 
Gain on sale of Arrow Engine(0.13)— — (0.13)
Amortization of acquisition-related intangible assets0.10 0.10 0.11 0.32 
Non-cash compensation expense0.04 0.05 0.08 0.17 
Income tax effect of net income adjustments(1)
(0.05)(0.06)(0.14)(0.25)
Adjusted diluted EPS from continuing operations$0.46 $0.61 $0.61 $1.68 
Weighted-average shares outstanding40,969,299 40,929,861 41,113,322 41,004,160 
(1) Income tax effect is calculated on an item-by-item basis, utilizing the statutory tax rate in the jurisdiction where the adjustments occurred. For the quarterly periods ended in 2025, the income tax effect of Special Items varied from the tax rate inherent in the Company's reported GAAP results, primarily as a result of certain discrete items that occurred during the period for GAAP reporting purposes.
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TriMas Corporation
Additional Information Regarding Special Items Impacting
Reported GAAP Financial Measures - Recast for Aerospace Discontinued Operations
(Unaudited - dollars in thousands, except share and per share amounts)
RecastAs reported
2025 quarterly periods endedYear ended December 31, 2025
March 31June 30September 30December 31
Income from continuing operations$1,940 $2,410 $(4,890)$72,850 $72,310 
Special Items to consider in evaluating quality of income from continuing operations:
Asbestos-related costs— — 8,030 (35,800)(27,770)
Business restructuring and severance costs6,540 2,670 2,450 1,130 12,790 
M&A diligence and transaction costs300 30 (960)(160)(790)
System implementation costs920 1,440 1,940 1,980 6,280 
Write-off of deferred financing fees100 — — — 100 
Change in environmental liability estimate— — — 6,500 6,500 
Currency translation adjustment— — — (1,540)(1,540)
Gain on sale of Arrow Engine(5,300)— (80)— (5,380)
Deferred tax gain on the sale of Aerospace— — — (53,900)(53,900)
Amortization of acquisition-related intangible assets1,590 1,680 1,710 1,700 6,680 
Non-cash compensation expense1,050 1,610 2,880 2,870 8,410 
Income tax effect of net income adjustments(1)
(1,200)(1,790)(4,270)5,990 (1,270)
Adjusted income from continuing operations$5,940 $8,050 $6,810 $1,620 $22,420 
RecastAs reported
2025 quarterly periods endedYear ended December 31, 2025
March 31June 30September 30December 31
Diluted earnings per share from continuing operations$0.05 $0.06 $(0.12)$1.81 $1.78 
Special Items to consider in evaluating quality of EPS from continuing operations:
Asbestos-related costs— — 0.20 (0.89)(0.68)
Business restructuring and severance costs0.16 0.06 0.06 0.03 0.31 
M&A diligence and transaction costs0.01 — (0.02)— (0.02)
System implementation costs0.02 0.04 0.05 0.05 0.15 
Write-off of deferred financing fees— — — — — 
Change in environmental liability estimate— — — 0.16 0.16 
Currency translation adjustment— — — (0.04)(0.04)
Gain on sale of Arrow Engine(0.13)— — — (0.13)
Deferred tax gain on the sale of Aerospace— — — (1.34)(1.32)
Amortization of acquisition-related intangible assets0.04 0.04 0.04 0.04 0.16 
Non-cash compensation expense0.03 0.04 0.07 0.07 0.21 
Income tax effect of net income adjustments(1)
(0.03)(0.04)(0.11)0.15 (0.03)
Adjusted diluted EPS from continuing operations$0.15 $0.20 $0.17 $0.04 $0.55 
Weighted-average shares outstanding40,969,299 40,929,861 41,113,322 40,148,066 40,790,137 
(1) Income tax effect is calculated on an item-by-item basis, utilizing the statutory tax rate in the jurisdiction where the adjustments occurred. For the quarterly periods ended in 2025, the income tax effect of Special Items varied from the tax rate inherent in the Company's reported GAAP results, primarily as a result of certain discrete items that occurred during the period for GAAP reporting purposes.
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