Slide 1: Elementis plc 2025 Interim Results and Strategy Update
Elementis plc 2025 Interim Results and Strategy Update Unique chemistry, sustainable solutions 31 July 2025
Slide 2: Cautionary statement
Cautionary statement This presentation, the presentation materials and discussion The Company is the holding company for a number of operationally may contain certain forecasts, projections and forward-looking distinct and autonomous subsidiaries that conduct the day-to-day statements—that is, state
Slide 3: Agenda
Agenda 01 Introduction and highlights Luc van Ravenstein 02 Group financials and segmental performance Ralph Hewins 03 Elevate Elementis Luc van Ravenstein Unique 04 Lucchemistry, Q&A sustainable solutions van Ravenstein and Ralph Hewins 3
Slide 4: New Elementis, positioned for growth
New Elementis, positioned for growth Strong H1 performance in soft New Elevate Sale of Talc CMD targets for Elementis strategy market conditions successfully 2026 delivered and medium-term On-track to deliver completed targets FY expectations Unique chemistry, sustainable solutions Unique chemistry,
Slide 5: Strong H1 performance
Strong H1 performance $m H1 24 H1 24 H1 25 % change (unless stated otherwise) (reported) (continuing) (continuing) (continuing) Revenue 383 314 308 (2%) Adjusted operating profit 65 62 65 6% Adjusted operating margin 17.0% 19.6% 21.2% 160 bps Adjusted diluted EPS (cents) 6.1 5.7 6.8 19% Net debt 196
Slide 6: Disposal of Talc
Disposal of Talc Sale to IMI Fabi in May 2025 for EV $121m 1 Clean break, simultaneous signing and completion $50m Net cash proceeds of $55m 1 share buyback commenced Unique chemistry, sustainable solutions Notes: 1. Enterprise value of €107m, Cash proceeds net of transaction costs €48m; converted a
Slide 7: 2026 financial targets achieved early
2026 financial targets achieved early ROCE 1,4 Adjusted operating Operating cash margin1 conversion 3 30% 28% 94% 21% 20% 90% >90% 23%2 19%+ 17%2 >20% 15% 77% 15% Unique chemistry, sustainable solutions 2023 2024 H1 25 2026 Target 2023 2024 H1 25 2026 Target 2023 2024 LTM June 2025 2026 Target Note:
Slide 8: Group financials and segmental performance
Group financials and segmental performance Ralph Hewins, CFO Unique chemistry, sustainable solutions 8
Slide 9: H1 sustainability highlights
H1 25 sustainability highlights 8 Environment People Safety Recordable Injuries Elementis Total Recordable Injury Rate (TRIR) Injuries TRIR • Carbon intensity reduction of 70%1 • Fit for the Future restructuring 7 6 post Chromium and Talc sale completed 6 2 5 4 • Science-based target (SBT) validated
Slide 10: Group revenue ($m)
Group revenue ($m) (2) (2) 5 (7) 314 308 (6) (2) 4 Coatings Personal Care Unique chemistry, sustainable solutions H1 24 FX Volume Price Mix H1 25 10
Slide 11: Group operating profit ($m)
Group operating profit ($m) Growth supported by self-help actions (1) 8 0 (4) 65 62 738 713 (3) 5 (6) Unique chemistry, sustainable solutions H1 24 FX Volume Price / Mix1 Savings H1 25 Note: 1. Price / Mix is shown net of inflation. 11
Slide 12: Personal Care performance
Personal Care performance Record margin delivery $m H1 25 H1 24 Change • Revenue growth in both cosmetics and (constant currency) AP Actives Revenue 116 115 2% • Profit and margin improvement reflects improved volumes and price, alongside Operating profit1 40 34 19% cost savings Unique chemistry, Op
Slide 13: Personal Care highlights
Personal Care highlights • Launched two new hectorite products, part of the successful BENTONE® ULTIMATE series Colour • Soft demand in Asia in H1 cosmetics • Growing demand for natural products and skinification • BENTONE HYDROCLAY rheology modifier range with hectorite driving sales, up 40% • Film
Slide 14: Coatings performance
Coatings performance Resilient margin performance $m H1 25 H1 24 Change • Revenue impacted by soft demand in (constant currency) all regions Revenue 192 200 (4%) • Improving capacity utilisation at key sites Operating profit1 35 39 (8%) Unique chemistry, Operating margin 18.2% sustainable 19.3% solu
Slide 15: Coatings highlights
Coatings highlights • Launched RHEOLATE® HX 6030 (ultra-low VOC coatings) Architectural • Biobased and powdered NiSAT1 gaining traction Coatings • Planned H2 launch of additives to mitigate viscosity loss post tinting • Marine and protective demand strong, automotive demand remains challenging Indus
Slide 16: Positive cash flow momentum
Positive cash flow momentum $m H1 25 H1 24 EBITDA 77 74 • Working capital outflow Change in working capital (30) (20) driven by normal Capital expenditure (5) (7) seasonality and modest Operating Cash Flow 42 47 Pensions (1) 1 inventory build Interest (9) (14) • Capex on track for $20m Tax related p
Slide 17: Strong balance sheet
Strong balance sheet Net debt to EBITDA evolution ($m)1 2018 2019 2020 2021 2022 2023 2024 LTM June 2025 (125) (157) (202) (367) (408) (401) (454) (498) Net Debt / EBITDA Unique 2.5x chemistry, 2.7x sustainable 3.2x 2.6x solutions 2.2x 1.4x 1.1x 0.9x Note: 1. Excluding finance leases on a pre IFRS 1
Slide 18: $30m aggregate cost savings on-track
$30m aggregate cost savings on-track 2024 2025 Global Supply November Chain and $12m $18m Procurement 2023 CMD Current $18m $12m Fit for the future organisational restructuring Unique chemistry, sustainable solutions Additional $10m saving for 2025/2026 delivery identified 18
Slide 19: Capital allocation
Capital allocation Balanced approach that prioritises growth, with progressive dividend and scope for additional returns Investing Progressive Additional for growth dividend returns • Capex c.3-4% of sales—focus on • Maintain policy at ~30% payout • Potential for further buybacks while growth and pr
Slide 20: Luc van Ravenstein, CEO
Luc van Ravenstein, CEO Unique chemistry, sustainable solutions 20
Slide 21: The new Elementis – high-quality speciality additives business
The new Elementis – high-quality speciality additives business Elementis strongly positioned: Serving large and growing markets for speciality additives 2023 2025 Additives: small part of formulation, critical to performance Personal Care Elementis’ winning differentiators: Chromium Talc • Unique He
Slide 22: Elevate Elementis
Significant value Elevate Elementis creation potential: Three strategic priorities: Revenue Growth1 MSD 2 Accelerate sustainable growth through the cycle Adjusted operation margin1: First choice for customers 23%+ Simpler, leaner Elementis Cash conversion1 >90% Unique chemistry, sustainable solution
Slide 23: Leveraging our winning differentiators
Leveraging our winning differentiators Category Hectorite Rheology Formulation Solutions • Natural white clay • The science of flow—what makes • Our Expertise to optimise What is it? ingredients work together formulations for end product • Unique to Elementis • Superior Rheology performance • Critic
Slide 24: Hectorite: a unique source of value creation
Hectorite: a unique source of value creation Consumer Double-digit growth through the cycle Customer Formulation Plant Hectorite Only commercial high-grade Hectorite modification and Inclusion of functional ingredients Versatile across Personal • Easy application resource in the world activation: wa
Slide 25: Leverage global rheology leadership
Leverage global rheology leadership 01 Leverage global footprint Manufacturing Laboratory Hectorite Mine 02 Expand into adjacent markets Current rheology market for Personal Care and Coatings $4bn Hectorite Mine, California $8bn $4bn Unique chemistry, sustainable solutions New rheology markets e.g.
Slide 26: Formulation Solutions – partner of choice for our customers
Formulation Solutions – partner of choice for our customers Scale-up R&D Bolt-on M&A Customer intimacy • R&D spend from ~2% to ~3% of sales • Complementary to core, e.g.: • Increase direct account coverage – New customer application labs – Add-ons to Hectorite • New warehouses and technical support
Slide 27: First choice for customers
First choice for customers Our path to become the industry’s most reliable partner On-Time-In-Full Leveraging our footprint Customer First (OTIF) improvement to increase output Enhancing service levels Improve capacity utilisation at key site Focus of every Elementis employee OTIF ST LOUIS +20% OPPO
Slide 28: Simpler, leaner Elementis
Simpler, leaner Elementis $10m New additional savings Drive simplification - 2025 & 2026 delivery, net of higher R&D spend and agility - Underpinning delivery in challenging demand environment Overhead Simplification & Agility • Simpler & more efficient structure • Fewer internal meetings ` stranded
Slide 29: New Elementis, positioned for growth
New Elementis, positioned for growth Strong H1 performance in soft New Elevate Sale of Talc CMD targets for 2026 Elementis strategy market conditions successfully delivered and medium-term On-track to deliver completed targets FY expectations Unique chemistry, sustainable solutions Unique chemistry,
Slide 30: Q&A
Q&A Luc van Ravenstein, CEO and Ralph Hewins, CFO Unique chemistry, sustainable solutions 30
Slide 31: Appendix
Appendix Unique chemistry, sustainable solutions 31
Slide 32: Talc sale transaction details
Talc sale transaction details A clean break, with concurrent signing and closing €m $m1 Enterprise Value 107 121 Rehabilitation and Closure Costs (35) (40) Other debt and debt-like items (15) (17) Transaction Costs (8) (9) Unique chemistry, sustainable Net Cash Proceeds 48 solutions 55 Notes: 1. Con
Slide 33: Talc sale transaction details: pro-forma impact
Talc sale transaction details High-quality portfolio focused on high-value specialty additives in the Coatings and Personal Care markets Pro-forma impact of Talc sale Full Year 2024 Elementis Talc Elementis $m 2024 2024 2024 Pro-Forma1 Sales 738 135 604 Adj. Operating Profit 129 8 1202 Adj. Operatin
Slide 34: Tax charge and 2025 technical guidance
Tax charge and 2025 technical guidance P&L – 2025 guidance $m H1 25 H1 24 • Depreciation reduced post Talc sale ~$23m Adjusted tax charge 14 14 • Amortisation of c.$8m (of which majority is amortisation of acquired intangibles) • Net finance costs of ~$25m Tax charge: adjusting items 2 1 • Adjusted
Slide 35: Adjusting items
Adjusting items $m Expense/(Income) H1 25 H1 24 • H1 2025 cash component of adjusting items of c.$8m (2024: $12m) Amortisation of intangibles 4 4 arising on acquisition • Environmental provisions increase due Environmental provisions - (1) to change in discount rates Business 4 4 transformation/othe
Slide 36: Net debt IFRS reconciliation
Net debt IFRS 16 reconciliation LTM H1 25 Pre-IFRS 16 Basis Post-IFRS 16 Basis Bank loans and overdraft (187) (187) Lease liabilities - (22) Cash and cash equivalents 62 62 Net Debt 125 147 Adjusted operating profit 123 123 Add: Depreciation and amortisation 30 30 Less: Amortisation in adjusting ite
Slide 37: Ambition to improve growth and returns
Ambition to improve growth and returns Revenue Growth Operating Margin Operating Cash Conversion4 Return on Capital Employed5 MSD 23%+ >90% >30% Mid-single digit growth 111% 23%+ 30% >30% 21% 94% 28%3 20%3 90% >90% 87% 2.6% CAGR 77% 23%2 17%2 601 604 603 15% 577 14% 559 12% 15% 14% 13% Unique chemis
Slide 38: For more details please contact
Unique chemistry, sustainable solutions For more details North America Europe Asia United Kingdom please contact: Elementis Elementis Portugal, Duechem (Shanghai) Elementis PLC 469 Old Trenton Road Unipessoal LDA Chemical Co, LTD. The Bindery 5th Floor elementis.com East Windsor Rua de Santos Pousad