1st Quarter 2005 Conference Call

March 8, 2005

Presentation Content

Forward Looking Statements:Information presented contains certain forward-looking statements, defined in Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent our judgment relating to, among other things, future results of operations, growth plans, sales, capital requirements and general industry and business conditions applicable to us. They are based largely on our current expectations. Our actual results could differ materially from the information contained in the forward-looking statements due to a number of factors, including changes in the availability and cost of raw materials, changes in the economy or the plastics industry in general, other unanticipated events that may prevent us from competing successfully in existing or new markets, and our ability to manage our growth effectively. Investors are also directed to the discussion of risks and uncertainties associated with forward-looking statements contained in our Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Investment Highlights…1st Quarter 2005 Results

Investment Highlights

Market Leader in Sheet

Diversified Products & End-Use Markets

Solid Historical Performance…53 Consecutive Profitable Quarters

Accountability Based Culture of Innovation & Productivity with Experienced Management Team

Growth Strategy Combines New Product Developments with Domestic & Global Expansions

1st Quarter 2005 Results

Net Sales $305 mil.

…26% increase over ‘04

Op. Earnings $10.3 mil.

…3.4% of Sales or 3¢ per pound shipped

Diluted EPS $.09/sh.

…vs $.26/sh last yr

Quarterly Dividend … $.12/share

Sales Fluctuations (Last Five Quarters). . . Internal Volume/Acquisition/Price-Mix

1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr FY FY

2005 2004 2004 2004 2004 2004 2003

Int Vol 3% 11% 15% 9% 5% 9% 1%

Acq 10% 6% 3% 4% 4% 4% 3%

Prc/Mx 13% 3% 3% 2% 4% 4% 2%

Total 26% 20% 21% 15% 13% 17% 6%=========== ====== ============ ====== ======

Company Overview… Diversity of Products & Markets

Key Base Materials...

Comprehensive Product Portfolio

[Full Year Estimate]

Customer End Markets...

Packaging Largest Sector

[1st Qtr Actual]

2005 1st Quarter Sales of $305 Million and 340 Million Pounds

Packaging

23%

Transportation

23%

Rec. &

Leisure

11%Bldg. &

Const.

13%

Other

10%Lawn &

Garden

6%

Sign &

Advertising

8%

Appliances &

Electronics

6%

Polyethylene

25%

Polystyrene

20%Polypropylene

15%

ABS

10%

PVC

10%

Other--Specialty

20%

Sales Outlook… By “End Market” Application

* The following represents rough guidelines for the Outlook Ratings above:

Strong = +3% or higher growth; Flat = +/-2% change; Weak = -3% or more decline

Spartech Operating Results…Operating Earnings Per Pound Shipped

¢

Op

erat

ing

Ear

nin

gs P

er P

oun

d

First Quarter

¢ ¢

¢

¢

MISSION STATEMENT

INTEGRATED MANAGEMENT SYSTEM

Culture --- Philosophy --- Strategy…Mission -- To Generate Integrity-Based Shareholder Value

CULTURE PHILOSOPHY

TTQ ‘90

TOS ‘92

GEP ‘94

GTT ‘96

GFC ‘00

Four

Corners

tones Three

Pyramids

“Growth with Integrity” ‘02 “Accountable and Lean”‘03

Committed to Generating Value For…Customers, Shareholders, Employees

TCS ‘98

STRATEGY

“Investing in…P.P.T.G” ‘04

CPC ‘01

Outsourcing Acquisitions…Transactions Completed Last Two Years

Date Company Vol (Lbs) Business/Segment SEH Producing Location

Dec ‘01 MTD-Cleveland 5 Mil M & P…S-Industries Tupelo, MS

April ‘02 Whirlpool-Mexico 26 Mil S & R…S-Plastics Ramos-Arizpe, Mexico

July ’02 MAAX-Canada 7 Mil S & R…S-Plastics Granby, Can.

Jan ’03 G. Lakes-Ohio 22 Mil C & C…S-Polycom Arlington, TX

Sept ’03 TriEnda-Portage 40 Mil S & R…S-Plastics Portage, WI

Jan ‘04 QPS-Midwest 6 Mil S & R…S-Plastics Greenville, OH; Richmond, IN

April ‘04 BASF-FR & Antistat 15 Mil C & C…S Polycom Donchery, France

121Mil+

International Expansion Activities…Outlook for Next Two Years

Location Vol (Lbs) Business Segment Status...Future Potential

Mexico 55 Mil

France 65 Mil

China N/A*

Europe N/A

* Est Vol ~ 50Mil In 1st Yr

S & R…C & C

C & C...S & R

All Three Segments

S & R…C & C

Commenced Full Production

…April 2003

New Visteon Tank Contract

…16 Mil Lbs To Start 9/04

Made Week Long Visit In Oct, with another follow up visit scheduled for early Sept.

…Shanghai Area Likely Site

Have Held Few Discussions ....Southern Europe Potential

Focused Growth…Organic Growth Via Innovative New Products

Introduced New Class of Ten Alloy Plastics--April 2004

Introduced Volume II of Product Transformations Brochure--June 2003

Growth Thru Product Transformations … Recognizable PT’s Over Last 8 Years

Packaging

Appliance & Hardware

Recreation & Leisure

Transportation

Building & Construction

Business Partnership Enhancement Effort…New Centralized Product Development Center - ’04

A Spartech Centralized Product Development Center Located at Our Warsaw, Indiana Facility; Opened June 2004:

» Purpose – To Develop New Products In One Plant Alleviating Stress On Manufacturing Sites

To Double As Development Centers» Structure – Will House Two Sheet Lines, VEC Cell, &

Two Test Thermoformers To Allow For The Testing Of Various Materials

Benefits Of Centralized R & D Location Will Include:

» Improved Production Efficiencies…At Current Manufacturing Sites

» Centralized Knowledge Base…On New Product Development

» Further Integration…Of S & R And C & C Groups

» Accelerate New Products To Market…Both Potential PT’s & Samples

5458

35

28

128

0

20

40

60

80

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Focused Internal Growth from New Products…Alloy Plastics Drive Product Transformations

54 Alloy Plastics 471 Product Transformations

New Products = 16% of First Qtr ‘05 Sales of $305 Mil ($48Mil) vs.

17% of ‘04 Sales of $241 Mil ($41Mil)

5 5 5 5

7

8

910

0

5

10

1996 1997 1998 1999 2000 2001 2002 2003 2004

1996-2004 CAGR =36%

54

72

94

56

1Q05

Lean Business Enterprise… Strategy and Key Initiatives

SUPPLY CHAIN

MANAGEMENT

SHOP FLOOR

KAIZENS

6 SIGMA

QUALITY

ADVANCED PRODUCT

DEVELOPMENT & MANUFACTURING

SPARTECH LEAN

ENTERPRISE

Objectives: Reduce Change Over Time Yield Improvement Scrap Reduction Cycle Time Reduction Improved Mfg Flexibility Productivity Gains

Benefits: Lower Conversion Costs Increase of Current Capacity Higher Customer Satisfaction Improved Cash Flows Improved Lead Times

Objectives: Information Sharing Kanban Implementation Purchasing Leverage Reduction in Suppliers Corporate Purchasing Teams

Benefits: Reduced Supplier Lead Times Reduced Freight Costs Improved Material Costs Improved Material Availability Improved Material Quality Levels

Objectives: Formalized New Product Process Faster Time to Market Standardized Equipment Smart Automation

Benefits: Lower Conversion Costs Higher Customer Satisfaction Improved Sales Growth Improved Cash Flows

Objectives: Black & Green Belt Program

Improved Yields Standardized Processes Root Cause/Problem Solving Improved Specifications Total Productive Maintenance

Benefits: Lower Conversion Costs Higher Customer Satisfaction Improved Sales Growth Improved Cash Flows

Total Debt to Total Debt and Equity...Current 1.1 To 1.0 Ratio

$466$474

$384$393$443 $419$418

$217$291 $322

$0$100$200$300$400$500

2001 2002 2003 2004 2005

($'s

in M

illio

ns)

Total Debt Stockholders' Equity

Debt/Equity Ratio… 2.0 1.4 1.2 1.1 1.1

1st Qtr

Operating Results for 1st Qtr '05 Versus '04…Sales Up 26% and Net Earnings Down 63%

($’s In Millions, Except Per Share Data)

Sales (26%). . . . . . . . . . . . . . . . . . . .

Operating Earnings (45%) . . . . . . .

Operating Earnings Per # (52%) . .

Interest Costs (2%) . . . . . . . . . . . . .

Net Earnings (63%). . . . . . . . . . . . .

Diluted EPS (65%). . . . . . . . . . . . . .

2005

$304.5

$ 10.3

3.0¢

$ 6.5

$ 2.8

$.09/Sh

2004

$241.5

$ 18.8

6.2¢

$ 6.3

$ 7.7

$.26/Sh

Spartech Corporation: “Good to Great”…2005 Financial & Operating Goals

row…Global Sales – Both Internally And Thru Acquisitions – To Produce A 12-15% Sales Increase in 2005…1st Qtr ’05=13% (3% Internal/10% Acquisition)

esults …Target Is To Operating Earnings Per Pound Shipped by .5¢ and Increase Earnings Per Share by 15-20%...Not achieved in 1st Qtr ‘05

fficiently…Utilize Lean Concepts & ACT’s to Production Capacity by 5-10% And Reduce Debt As CapEx Principally Used To Fund New Technology…Improving & Seasonal

ccelerate…Efforts to Advance The Knowledge of our People & Expand Capabilities of our Information Technology System at a Faster Pace (Send Additional 30 People Thru MDT & Initiate Annual Sales Personnel Training)…In Process

echnology…Advancements To the Flow of Alloy Plastics & Product Transformations to Market Thru New Technology Developments at our Product Development Center (Complete 12 Successful Programs in 2005) …In Process

G

R

E

A

T

Key Operating Theme for 2005…Investing In “P-P-T-G” Strategy

MDT

MLB

PDC

AAE

Spartech Investment Highlights… Market Leader With Solid Growth Strategy

Leader In Custom Sheet Market – North American leader with more than 25% share of custom market

Diversified End-Use Markets – Largest is non-cyclical Packaging market ~ 23% of sales– Largest customer represents less than 5% of sales– Continuing to expand end markets and product offerings

Solid Historical Performance/Outlook– Nine consecutive years of improved earnings performance (1992-2000)– Solid performance in difficult economy (2001-2003)… positioned for future

New Outsourcing & International Opportunities– 1st Generation Outsourcing Trend Now Occurring – Vita’s Departure Opens Up International Opportunities

Solid Growth Story– New Products represent 17% of Sales For Fiscal 2004– 25 Acquisitions In Last 12 Years– Operating Management Bonuses Linked To 2005 Goals

1st Quarter 2005 Conference Call

March 8, 2005