AAON Q1 sales $496.9M record, EPS $0.48 +37%, backlog $2.13B, raises FY guidance

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

The Company reported net sales of $1.560 billion for the first quarter of 2026, an increase of 15% compared to net sales of $1.353 billion for the first quarter of 2025 and above the previously communicated guidance range of $1.490 billion to $1.525 billion. Total comparable sales for the first quarter of 2026 increased 13%. The Company reported operating income for the first quarter of 2026 of $76 million compared to operating income of $20 million in the first quarter of 2025. Net income was $48 million, or $0.56 per diluted share, for the first quarter of 2026 compared to net loss of $2 million, or $0.02 per diluted share, for the first quarter of 2025.

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

gross margin, and non-GAAP diluted net EPS, as well as its highest-ever free cash flow generation for a second quarter. Second Quarter Fiscal 2026 Financial Results • Revenue : $10.7 billion, up 40% from the prior-year period • Gross margins : ◦ GAAP of 36.5%, up 810 basis points from the prior-year period and up 60 basis points sequentially ◦ Non-GAAP (1) of 36.9%,

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

Commission this morning. ​ Details on First Quarter 2026 Results ​ ​ First Quarter Results (1) ​ ($ in millions, except per share data) ​ ​ ​ 1Q26 ​ ​ ​ 1Q25 Net Revenue ​ $ 627.8 ​ $ 673.9 ​ ​ ​ ​ ​ ​ ​ Loss from continuing operations, net of tax, GAAP ​ $ (6.5) ​ $ (3.8) Adj. net (loss) income from continuing operations, Non-GAAP ​ $ (3.1) ​ $ 23.2 ​ ​ ​

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

First Quarter 2026 Financial Results YUTREPIA sales led to the company’s third consecutive quarter of profitability with net income of $52.9 million and positive non-GAAP adjusted EBITDA of $71.2 million in the first quarter of 2026. Cash and cash equivalents totaled $222.8 million as of March 31, 2026, compared to $190.7 million as of December 31, 2025. Product sales, net, were $129.9 million for the three months ended March 31, 2026.

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

Earnings (Loss) per share of ($1.57), compared to Earnings (Loss) per share of ($0.41) for the quarter ended December 31, 2025

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

First Quarter 2026 Highlights Income Statement and Balance Sheet ● Total revenue increased materially to $12.1 million in Q1 2026, compared to $0.7 million for the three months ended March 31, 2025. The increase was primarily driven by the continued success of Sharplink’s actively managed ETH treasury strategy, which was launched on June 2, 2025. ● SG&A expenses were $9.9 million for the three months ended March 31, 2026, compared to $1.1 million in the prior year’s first quarter. The increase was primarily due to expenditures for investments in infrastructure, talent and systems required to scale and actively manage Sharplink’s institutional-grade ETH treasury platform. ● Net loss was $685.6 million in Q1 2026, compared to $1.0 million for the three months ended March 31, 2025.

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

GAAP Net Income of $4.49 per share and Adjusted (non-GAAP) Operating Earnings of $2.74 per share for the first quarter of 2026 • Affirming full year 2026 Adjusted Operating Earnings guidance of $11.00 - $12.00 per share

This filing

unless otherwise noted) • Delivered record sales and accelerated earnings growth on strong demand and expanding production throughput ◦ Net sales grew 54.3% to a record $496.9 million ◦ Operating margins reflected early benefits from improving utilization, with margin improvement expected to build as capacity absorption improves ◦ GAAP diluted EPS increased

Comparable filing

USDC in circulation of $77.0 billion at quarter end grew 28%; USDC onchain transaction volume in Q1’26 of $21.5 trillion grew 263% ● Total revenue and reserve income in Q1’26 of $694 million grew 20% ● Net income from continuing operations in Q1’26 of $55 million decreased 15% ● Adjusted EBITDA in Q1’26 of $151 million grew 24% Business Highlights ● ARC Token: $222M