Core & Main, Inc.

Company Performance

Fiscal 2025 was a year of disciplined execution for Core & Main. We delivered our 16th consecutive year of sales growth, a result that reflects the resilience of our business, the long-term strength of our end markets and the consistent performance by our teams across the country. Our team navigated a dynamic environment to deliver strong financial performance, including:

•Net sales of over $7.6 billion;

•Net income of $462 million;

•Adjusted EBITDA (Non-GAAP) of $931 million;

•Diluted earnings per share of $2.31;

•Adjusted Diluted Earnings Per Share (Non-GAAP) of $2.97;

•Operating cash flow of $650 million; and

•Deployment of approximately $155 million to repurchase and retire 3.2 million shares of our Class A common stock;

The consistency of our results is driven by our balanced business mix, the investments we have made to support and execute our growth strategy, and the expertise and dedication of our associates. We’ve proven that we can drive value for shareholders by executing our strategy to deliver growth through geographic expansion, product line expansion and local share gains, while also improving profitability, generating strong cash flow, and then complementing it all with strategic acquisitions.

In addition to providing results that are determined in accordance with the generally accepted accounting principles of the United States (“GAAP”), we present EBITDA, Adjusted EBITDA and Adjusted Diluted Earnings Per Share ("Adjusted Diluted EPS"), which are non-GAAP financial measures. Additional information regarding EBITDA, Adjusted EBITDA and Adjusted Diluted EPS, including a reconciliation to the most comparable GAAP measure, is included under the heading “Non-GAAP Reconciliation” beginning onpage 53 of this proxy statement and under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures” in our 2025 Form 10-K.

Corporate Governance Highlights