Mayville Engineering Company to Introduce Strategy Update & Multi-Year Financial Targets at 2023 Investor Day

Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, will host an Investor Day at its Hazel Park, Michigan facility today, September 14, 2023, beginning at 9:00 a.m. ET.

At the Investor Day event, MEC will provide a progress update on its MEC Business Excellence (MBX) value creation framework, including a focus on targeted commercial growth, best-in-class operational execution and its capital allocation priorities. Within its presentation, MEC will also introduce new, three-year performance targets, as outlined below.

“Today, we are introducing three-year performance targets that highlight the significant value creation potential of our business,” stated Jag Reddy, President and CEO of MEC. “Multi-year secular trends toward reshoring and outsourcing, together with growing demand for integrated supply chain solutions across both existing and underserved adjacent markets, create a compelling opportunity for MEC in the years ahead. We will seek to further optimize recent investments in world-class engineering, design and manufacturing capabilities, while deploying efficient, standardized processes that enhance both our value proposition with customers and the long-term profitability of our business. We are excited by the outlook for our business and look forward to continuing to build a leading platform of scale across our diverse end-markets.”

STRATEGIC PRIORITIES UPDATE

In 2022, MEC launched MBX, a holistic, strategic framework designed to drive profitable growth through targeted commercial expansion within higher-value adjacent markets; the implementation of more efficient business processes; improved asset optimization and productivity; and further standardization across the enterprise. MBX positions MEC to provide a solutions-based platform equipped to scale with the unique requirements of existing customers, while capitalizing on underserved demand within emerging growth sectors, including energy transition. In combination, MEC believes the MBX framework will contribute to ratable growth in sustained revenue, margin realization and profitability.