Smart Sand (SND) investor relations material

Strategic positioning and market trends

• Operates three major mines with over 450 million tons of high-quality fine mesh reserves, primarily Northern White Sand, meeting over 80% of current frac sand demand.

• Annual processing capacity of approximately 10 million tons, with direct access to four Class 1 rail lines for efficient logistics across North America.

• Wellsite storage and last mile logistics solutions enhance operational efficiency and reduce costs for customers.

• Diversification into industrial product solutions, with a 60% year-over-year volume increase and multi-year contracts in key markets.

• High insider ownership aligns management with investors, with significant capital returned through share buybacks and dividends since 2023.

Financial performance and capital structure

• Quarterly sales volumes grew from 1,424k tons in Q2'25 to 1,864k tons in Q2'26, with revenue rising from $92.8M to $115.1M in the same period.

• Contribution margin per ton fluctuated, peaking at $14.76 in Q3'25 and reaching $14.54 in Q2'26.

• Adjusted EBITDA increased significantly to $18.7M in Q2'26, reflecting improved operational performance.

• Maintains the lowest leverage in the proppant industry, supporting prudent capital management and resilience through cycles.

• Returned approximately $33.8M to shareholders and repurchased about 7 million shares since January 2023.

Operational excellence and logistics

• Efficient mining and processing at Oakdale, Ottawa, and Blair facilities, with centralized operations minimizing trucking and costs.

• Dual-served rail access and unit train capability at all sites reduce delivery times and costs, providing a competitive logistics advantage.

• In-basin terminals in key regions (ND, PA, OH) support rapid, sustainable delivery to major shale basins.

• SmartSystems wellsite storage offers direct-to-blender delivery, advanced automation, and the smallest industry footprint.

• Ongoing initiatives to further reduce mining and operating costs.