Gulf Island Fabrication (GIFI) Investor presentation summary

Strategic positioning and business overview

• Operates through two segments: Services (55% of 2024 revenue) and Fabrication (45%), serving oil & gas, LNG, renewables, and infrastructure markets.

• Services division offers maintenance, decommissioning, and environmental services, with contracts typically structured as time & materials or cost-reimbursable.

• Fabrication division produces complex steel structures for onshore and offshore clients, with contracts often fixed-price or hybrid.

• Strategic locations in Louisiana and Texas, with a skilled, non-union workforce and direct water access, support both segments.

• Loyal, diversified customer base includes major energy and industrial companies, enabling cross-selling and growth opportunities.

Financial performance and capital allocation

• Q1 2025 adjusted revenue was $40.3 million, with adjusted EBITDA of $4.5 million, and a cash balance of $67.5 million.

• Trailing twelve-month adjusted revenue was $156 million, and market capitalization was $109 million as of June 3, 2025.

• Services revenue and EBITDA declined year-over-year due to lower offshore activity and delayed project timing, while Fabrication saw higher revenue and EBITDA from small-scale projects.

• Maintains strong liquidity, with $67.5 million in cash and investments and $15.6 million in surety bonds at March 31, 2025.

• Share repurchase program authorized up to $10 million through December 2026, with $4.4 million repurchased by June 4, 2025.

Growth strategy and market outlook

• Focused on profitable growth by expanding services, increasing small-scale fabrication, and entering new end markets like LNG, renewables, and data centers.

• Acquisition of ENGlobal’s automation, engineering, and government services businesses in April 2025 to broaden offerings and diversify markets.

• Positioned to benefit from rising U.S. LNG export capacity, increased data center construction, and energy transition investments.

• Operational excellence initiatives target improved project execution, higher margins, and better facility utilization.

• Strong financial position supports organic growth, strategic acquisitions, and capital returns to shareholders.