May 6, 2020  1Q20 Earnings Presentation 

 Safe Harbor  The information contained in this presentation and discussion contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the future performance of the Company, including statements about the effects on the Company from (i) restructuring initiatives, (ii) changes in the business segments (iii) the effect of changes in backlog (iv) the potential sale of the Enid (GEFCO) business, (iii) increases in international demand, (iv) domestic and international product demand in North America , and (v) the impacts of the coronavirus (COVID-19) on the Company’s financial condition and business operations. These forward-looking statements reflect management’s expectations and are based upon currently available information, and the Company undertakes no obligation to update or revise such statements. These statements are not guarantees of performance and are inherently subject to risks and uncertainties, many of which cannot be predicted or anticipated. Future events and actual results, financial or otherwise, could differ materially from those expressed in or implied by the forward-looking statements. Important factors that could cause future events or actual results to differ materially include: general uncertainty in the economy, oil, gas and liquid asphalt prices, rising steel prices, decreased funding for highway projects, the relative strength/weakness of the dollar to foreign currencies, production capacity, general business conditions in the industry, demand for the Company’s products, seasonality and cyclicality in operating results, seasonality of sales volumes or lower than expected sales volumes, lower than expected margins on custom equipment orders, competitive activity, tax rates and the impact of future legislation thereon, and those other factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including but not limited to the Company’s annual report on Form 10-K for the year ended December 31, 2019. 

 Astec Overview & 1Q20 Highlights  Barry Ruffalo | President & CEO 

 Today’s Key Messages    Actions taken in 2019 and progress of transformation plan has fueled solid 1Q20 performance      01  Changed reporting from 3 segment structure to two segment structure: Infrastructure Solutions and Materials Solutions to align with how the business is managed      02  Strong balance sheet and liquidity with net cash position to execute through challenging market conditions; our products are essential for building infrastructure      03  Actively preparing for upside and downside scenarios due to COVID-19 pandemic; with our Simplify, Focus, and Grow strategic pillars, we have had a head start on cost savings initiatives      04 

 Simplification of Our Business Segments   Infrastructure Solutions: 65%  Materials Solutions: 35%  Key Products Roadbuilding • Paving • Forestry • Recycling • Asphalt Plants • Concrete Plants • Burners and Heaters • Silos and Storage TanksLeading Brands  Key ProductsCrushing and Screening • Washing and Classifying • Material Handling • Rock Breaker Technology • Plants and SystemsLeading Brands  Note: Percentages are a % of total company revenue for full year 2019. 

 In early March 2020, formed a COVID-19 task force, which continually monitors information from our sites, government agencies and other sourcesContinue to manufacture, sell and service our products with appropriate precautionsReinforced good hygiene practices at all facilities including frequent handwashing, social distancing and regular cleaning of surfaces, in accordance with U.S. Center of Disease Control and Prevention (CDC) and World Health Organization (WHO) guidelines to reduce health risksEnacted policies to keep our employees, customers and suppliers safe by greatly reducing travel and utilizing technology to meet virtually as business permitsIntroduced health screening procedures for on-site, essential employees and visitors, including temperature screeningsCOVID-19 playbook in place with senior leaders sharing best practices, processes and tools across organization  COVID-19 Preparedness Update  New Organizational Structure Has Enhanced Company-wide Communication 

 Actively running scenario analysEs to ensure we are prepared for changes in demand  Business Dynamics and Observations  Bipartisan support for U.S. infrastructure constructionCustomers are still working and need our solutions; some have discussed postponing capex decisions and delaying shipments to future quartersVast majority of factories are open; temporary closures of two Materials Solutions sites due to preemptive government mandates in South Africa (reopened on May 4, 2020) and Northern Ireland (scheduled to reopen in mid-May, 2020)Limited impact in 1Q and situation remains fluid for the remainder of 2020  Current transformation to Simplify, Focus, and Grow strategy has reduced organizational structure complexity and enabled more efficient COVID-19 response and sharing of best practices 

 Total Company & Segment Results  Becky Weyenberg | Chief Financial Officer 

 1Q20 Financial Results ($M, except per share data)  Equipment sales decreased $39.2M or 18.2%Parts sales decreased $3.9M or 4.2%Domestic sales decreased $28.9M or 11.0%International sales decreased $8.0M or 12.7%Excluding FX impact, sales decreased 10.5%$8.8M revenue delayed due to COVID-19 delivery restrictions   Infrastructure Solutions backlog increased $25.4M or 19.1%Materials Solutions backlog declined $16.5M or 15.9%  Adjusted EBITDA decreased due to sales volume drops in both segments partially offset by favorable mix and improvements in Mfg. performanceAdj. EBITDA margin of 8.4% increased 60 bpsSGA&E decreased 3.4% driven by reductions in consulting fees, travel and employee expenses; offsetting ConExpo expenses of $4.2M  Adjusted EPS excludes $0.09 impact from $1.1M of restructuring charge and $1.6M of goodwill impairment in 1Q20Use of CARES Act Net Operating Loss (NOL) carryback for a $9.5M tax reduction, or $0.42 impact; excluding reduction, our effective tax rate was 28% in 1Q20Solid results with limited COVID-19 interruptions  1 See Appendix for GAAP to Non-GAAP reconciliation table.  (4.7%)  (11.3%)  3.8%  NOL TaxBenefit  53.8% 

 Infrastructure Solutions | 1Q20 Financial Performance ($M)  1Q PERFORMANCE DRIVERSStrong order intake and backlog, not fully realized in 1Q sales (2Q production)Strong performance overall from good parts sales and associated margins, particularly in plant equipmentMoved a portion of plant sales to 2Q due to COVID-19-related customer delaysAdditional cost savings achieved by reduced T&E and limited trade show participationRealized savings from manufacturing labor and indirect spend   1 See Appendix for GAAP to Non-GAAP reconciliation table.  3.1%  (7.6%)  5.1% 

 Materials Solutions | 1Q20 Financial Performance ($M)  1Q PERFORMANCE DRIVERSInitiatives taken in 2019 and 2020 to restructure operations to current market demand; improving margin despite declining revenueHeadcount reductions and cost control measures put in place at end of 2019  (19.1%)  (17.6%)  (25.0%)  1 See Appendix for GAAP to Non-GAAP reconciliation table. 

 Focused on Maintaining a Strong Balance Sheet  Flexible Balance Sheet with Ample Liquidity  SUMMARY BALANCE SHEET  COMMENTARYGross inventory decreased $124M; Net inventory decreased $72M both from 1Q19$26M in cash expected from income tax refund due to CARES Act  ($M)  3/31/20  Cash and Cash Equivalents  $ 44  Total Current Assets  $ 534  Total Assets  $ 805  Total Current Liabilities  $ 169  Total Debt  $ 1  Total Liabilities and Equity  $ 805  ($M)  3/31/20  Cash and Cash Equivalents  $ 44  Available Credit  $ 142  Total Available Liquidity  $ 186 

   Continually evaluate strategy to ensure a balanced approach  Disciplined Capital Deployment Framework  Use of Cash Over Last 3 Years~$150M      Adjustments Given Current Environment  Plant, Property & Equipment  Internal investments meeting return objectives of >14% ROIC  Continue to target > 14% ROIC for new investments  Acquisitions  Future acquisitions to align with growth strategy and meet financial criteria   Continue to focus on strategic alignment and financial discipline  Returns to Shareholders  Dividend of $0.11 per share$150M repurchase program authorizedRepurchased $24M in 2018  No buybacks expected in near term   

 Downturn Playbook with Additional Levers to Pull     Status Commentary  Self-AdjustingMetrics-based incentive plan  Revised annual and long-term incentive plans  DiscretionaryProfessional services / consultingTradeshows / marketing4-day work weeksDelayed / freeze hiring Suspend merit increases / other compensation benefits  Accelerating centralization effortsImplemented travel restrictions; reduced number of exhibits and promotional itemsStandardizing commission / pay structures  InvestmentsInvestment reprioritization, deferralsProduct line rationalization  Focused investments on transformation activities including centralized corporate functions Accelerated Strategic Procurement / Operational Excellence projects  Cash PreservationHeadcount reductionStandardization of payment terms  Improve inventory turnsFocused on cash managementContinued focus on centralizing business processes  In-Process  Activated  Additional Levers, If Needed 

   New CEO, CFO and CIO in placeExecutive Leadership Team actively engaged – monthly dashboard review processInvestment in resources (Finance and IT Leadership Teams) – leading process reviewsEngaged with Big Four accounting firm to assist with Sox 404 remediation efforts, project management and risk assessmentInvestment in additional resources for internal controls refresh and testingComprehensive monitoring and accountability for all sitesComprehensive testing started in April, 2020 over 1Q20 transactionsFocus on IT functionSystem functionality and system limitations System accessIT change management: tool, procedures and educationMonitoring mechanisms implemented (general ledger updates, segregation of duties)Enhanced backup and recovery procedures and documentation  Material Weakness Remediation Plan | What’s Different                                 

 Our Profitable Growth Strategy Remains Consistent                FOCUS  SIMPLIFY  GROW              Leverage global footprint and scale while maintaining strong customer relationships Reduce organizational structure complexityConsolidate and rationalize footprint and product portfolioOptimize supply chain by leveraging size and scale of business  Strengthen customer-centric approach by providing a holistic set of solutionsDrive commercial excellence Embrace and streamline operational excellence processes Enhance accountability through a performance-based culture with aligned KPIs and incentives  Reinvigorate innovation with a new product development approachLeverage technology and digital connectivity to enhance customer experienceCapitalize on global growth opportunitiesAllocate capital effectively to drive greatest shareholder value  

 Update on Our Transformation Progress  Changed from subsidiary structure to align by product groupsRefreshed executive leadership team and board membersExecuted Astec Strategic Procurement initiative consolidating supply chain1Q20 re-segmentation to two segment reporting structureWithin Infrastructure Solutions, integrating five service teams into a unified service and construction team; one support call center  SIMPLIFY  Hired SVP of Operational Excellence and Chief Information OfficerAligned financial metrics to management incentivesImplementing Enterprise Data Analytic Platform system to consolidate reportingFurther drive operational excellence across organizationOptimize product portfolio with ongoing rationalizationImprove working capital turns – clear action plan in place  FOCUS  Hired SVP of InnovationEnhance customer engagement Global expansionProfitable GrowthMargin Improvement  GROW  2020 - 2021+  2019 - 2021  2019 - 2020  Completed  In-Process 

 Key Investment Highlights  Leadership positions within attractive niche markets in industries benefitting from long-term secular trends including population growth, urbanization and aging infrastructure    Industry-leading reputation for innovation, high-quality products and superior customer service    Recurring, high-margin aftermarket revenue driven by a large global installed base    Financial strength to execute our strategic priorities to improve productivity and drive long-term earnings growth    Refreshed Board members supporting new experienced leadership team to drive long-term shareholder value creation              1  2  3  4  5 

 Q&A 

 Contact Information    STEVE ANDERSONSVP of Administration & Investor RelationsPhone: 423-553-5934Email: sanderson@astecindustries.com  

 Appendix 

 Income Statement 

 Segment Revenues and Profits  (In thousands; unaudited) 

 Balance Sheet 

 Cash Flow Statement 

 1Q GAAP to Non-GAAP Reconciliation Table  In its earnings release, Astec refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures. These non-GAAP measures may not be comparable to similarly titled measures being disclosed by other companies. Non-GAAP financial measures should be considered in addition to, and not in lieu of, GAAP financial measures. Nonetheless, this non-GAAP information can be useful in understanding the Company's operating results and the performance of its core businesses.The amounts described above are unaudited, reported in thousands of U.S. Dollars (Except Share data), and as of or for the periods indicated. 

 GAAP vs Non-GAAP Adj. EPS Reconciliation  (In thousands, except share and per share amounts; unaudited)