Albany International Investor Presentation — October 2022

• Selling, Technical, General, and Research (STG&R) expenses were $46.8 million, compared to $47.4 million in the

same period of 2021. The decrease was driven by the favorable effect of the revaluation of foreign currency in the

Machine Clothing segment.

• Operating income was $53.6 million, compared to $44.5 million in the prior year, an increase of 20.6%.

• Certain pension plan liabilities were settled for a plan in the U.S., leading to charges totaling $49.1 million and reducing

GAAP earnings per share by $1.20.

• Effective tax rate for the quarter was -41.9%, driven by the release of residual taxes as a result of the pension

settlement; excluding the ef fect of the pension settlement and related adjustments, the effective tax rate for the quarter

was 24.6% or 250 basis points lower than that for the third quarter of 2021, mainly due to favorable discrete tax

adjustments in the third quarter of 2022.

• Net income attributable to the Company was $10.7 million ($0.34 per share), compared to $30.9 million ($0.95 per

share) in the third quarter of 2021. Adjusted earnings per share (or Adjusted EPS, a non-GAAP measure) was $1.15

per share in the third quarter of 2022, compared to $0.83 in the same period of last year.

• Adjusted EBITDA (a non-GAAP measure) was $68.1 million, compared to $60.2 million in the third quarter of 2021, an

Please see the tables below for a reconciliation of non-GAAP measures to their comparable GAAP measures.

Outlook for Full-Year 2022

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