Slide 1: Q2 2025 Earnings
Q2 2025 Earnings July 31, 2025 8:00am ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations and beliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o
Slide 3: Non-GAAP Measures
Non-GAAP Measures It should be noted that adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted (loss) earnings per share attributable to common shareholders, non-operating pension and
Slide 4: Maintaining Long-term Competitiveness
Strong operational execution, demonstrated by Q2 2025 results: ▪ Net sales of $1.3B; volume growth in Energy Storage (+15%) and Specialties (+6%) ▪ Adj. EBITDA1 of $336M; up sequentially due to improved fixed cost absorption, on-going cost savings, and Energy Storage product mix ▪ Net debt to adjust
Slide 5: Q2 2025 Financial Summary
Q2 2025 Financial Summary (in millions, except per share amounts) Q2 2025 Q2 2024 Variance Net Sales $1,330 $1,430 -7% Net Income Attributable to Albemarle Corporation $23 ($188) +112% Adjusted EBITDA1 $336 $386 -13% Adjusted EBITDA Margin1 25% 27% -200 bps Diluted Loss per Share Attributable to Com
Slide 6: Q2 Y/Y Adjusted EBITDA Bridges
Q2 Y/Y Adjusted EBITDA1 Bridges ($ in millions) $700 $473 Q2 2025 vs 2024 Y/Y – by Driver $600 $500 ▪ Lower input costs and on- going cost and productivity $400 $31 $17 improvements mostly offset ($3) $300 $386 ($16) lower pricing and lower equity ($317) $336 earnings driven by on-going $200 soft ma
Slide 7: Maintaining Total Company 2025E Outlook Considerations
Maintaining Total Company 2025E Outlook Considerations1 The ~$9/kg scenario is expected to apply assuming current lithium prices persist for the balance of the Observed Lithium Market Q2 2025 avg. H1 2024 range Q4 2023 avg. year due to: Price Scenarios: ~$9 $12-15 $20 ▪ Successful execution of (US$/
Slide 8: 2025 Commentary by Segment
2025 Commentary by Segment1 ENERGY STORAGE ▪ Q2 2025 sales volumes of 58 kT LCE2 YTD record production from integrated conversion network ▪ Sales volume growth expected to be near the high end of 0%-10% Y/Y ▪ ~50% of 2025E salts volumes sold on long-term agreements (LTAs) ▪ LTAs are index referenced
Slide 9: Expect to Achieve Positive FY 2025 Free Cash Flow
Expect to Achieve Positive FY 2025 Free Cash Flow Operating Cash Flow ▪ FY 2025E operating cash conversion expected to be >80%, Conversion1 well above historical average1, driven by: 1. $350M customer prepayment in Energy Storage secured in January 2. On-going working capital improvements, including
Slide 10: Our Actions Have Enhanced Financial Flexibility
Our Actions Have Enhanced Financial Flexibility1 Strong Liquidity Position Nov. 2025 Ample Flexibility to Repay or Extend Debt Maturities Eurobonds expected to be Long-term debt has weighted average repaid with cash interest rate of 3.6% (100% fixed) $1,807 on hand Cash & Cash $650 $600 Equivalents
Slide 11: Leveraging Our Global Footprint to Navigate Macro Conditions
Leveraging Our Global Footprint to Navigate Macro Conditions Geographically diverse bromine assets and operational efficiency yielding strong results ▪ JBC achieved record production in Q2; operating NEBO to increase production yields while reducing water intensity ▪ Magnolia and JBC allow us to off
Slide 12: 2025 Global EV Demand Growth Off to a Strong Start
2025 Global EV Demand Growth Off to a Strong Start +35% Y/Y, Led by China Global EV Sales1 China EV Sales1 Europe EV Sales1 North America EV Sales1 (in millions) 20 20 20 20 60% 20% 10% 15 15 15 15 of Global of Global of Global 10 +35% 10 10 10 2025 Y/Y +41% 5 5 2025 Y/Y 5 5 +27% +5% 2025 Y/Y 2025 Y
Slide 13: Expected Lithium Demand Growth >2x (2024-2030)
Expected Lithium Demand Growth >2x (2024-2030) Stationary Storage EV Lithium Demand Installations1 Market Penetration2 by Application2 (GWh) 2024-2030 (MMT LCE) 2024-2030 CAGR: 15-20% 2024-2030 2025 lithium demand range CAGR: 20-30% CAGR: 15-20% includes assumed impact of 970 54% 3.3 tariffs announc
Slide 14: As Lower Pricing Persists, Demand is Expected to Outpace Supply
As Lower Pricing Persists, Demand is Expected to Outpace Supply 2024-30E lithium demand1 CAGR 15-20% Surplus peaks as early as 2025 2024-30E price-constrained2 Li Supply/Demand YE Balance1 (%) Lithium lithium supply1 Surplus Price CAGR 10-12% Balance Confidence Interval: < $9/kg LCE pricing does not
Slide 15: Broad Set of Actions Underway to Maintain Long-term Competitive Position
Broad Set of Actions Underway to Maintain our Long-term Competitive Position Optimizing Improving Reducing Enhancing Conversion Network Costs and Efficiency Capital Expenditures Financial Flexibility Actions • Significantly reduced footprint at • Announced proactive measures to • Re-phased capex to
Slide 16: Driving a Culture of Continuous Improvement and Productivity
Driving a Culture of Continuous Improvement and Productivity OPTIMIZING CONVERSION IMPROVING COSTS AND REDUCING CAPITAL ENHANCING FINANCIAL NETWORK EFFICIENCY EXPENDITURES FLEXIBILITY Initial Target (Q4 2024) Initial Target (Q4 2024) Initial Target (Q4 2024) Initial Target (Q4 2024) Target $300-$400
Slide 17: Maintaining Long-term Competitiveness
Strong operational execution, demonstrated by Q2 2025 results: Net sales of $1.3B; Adj. EBITDA1 of $336M; both up sequentially Maintaining FY 2025 total company outlook considerations and cash flow considerations; driving to positive free cash flow in 2025 Maintaining Long-term Continuing proactive
Slide 18: Q3 2025 Investor Relations Events
Q3 2025 Investor Relations Events Sep 3 UBS Global Materials Meredith Bandy, CFA VP, Investor Relations & Sustainability meredith.bandy@albemarle.com +1 980.999.5168 Sep 4 Jefferies Industrials Isaac Price Manager, Investor Relations Sep 22-25 Climate Week isaac.price@albemarle.com +1 980.308.6194 1
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Slide 20: Appendix
\ Albemarle* Appendix
Slide 21: Introducing FY 2025E Energy Storage Market Price Scenarios
Introducing FY 2025E Energy Storage Market Price Scenarios1 Albemarle does not provide forecasts of lithium price Observed Lithium FY 2024A Q2 2025 avg. H1 2024 range Q4 2023 avg. Market Price Scenarios: Scenarios based on recent (US$/kg LCE)2 $12 ~$9 $12-15 $20 observed lithium market pricing FY 20
Slide 22: Specialties, Ketjen, and Corporate FY 2025E Outlook Considerations
Specialties, Ketjen, and Corporate FY 2025E Outlook Considerations FY 2025E Segments FY 2024A as of July 30, 2025 Specialties Net Sales $1.3B $1.3B – $1.5B Specialties Adj. EBITDA $229M $210M – $280M Ketjen Net Sales $1.0B $1.0B – $1.1B Ketjen Adj. EBITDA $131M $120M – $150M Other Corporate Capital
Slide 23: Illustrative Calculation of FY 2025E Adj. EPS
Illustrative Calculation of FY 2025E Adj. EPS at ~$9/kg Scenario Q2 2025 avg. ~$9/kg Scenario (in millions, except per share amounts) Low High Adjusted EBITDA1 $800 $1,000 - Pre-Tax Equity Income $290 $430 Assuming 30% AU tax rate - Interest Expenses $180 $210 - Depreciation and Amortization $630 $6
Slide 24: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non-operating pension and OPEB. Common Shareholders Adjusted Diluted EPS Attributable to Diluted
Slide 25: Adjusted Net Income
Adjusted Net Income Net income (loss) attributable to Albemarle Corporation , 9 (1 ,19 ) Add back: Non operating pension and OPEB items (net of tax) 1 9 ( ) Non recurring and other unusual items (net of tax) 1, , 9 Adjusted net income attributable to Albemarle Corporation 5 , 5,9 Mandatory convertib
Slide 26: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Net income (loss) attributable to Albemarle Corporation , 9 1. (1 ,19 ) (1 . ) , 5 . (1 5, 5 ) ( . ) Add back: nterest and financing expenses 9,9 9 . 5,1 .5 9 ,91 .1 ,15 . ncome tax expense (benefit) , 9 . ( , ) ( .1) ,11 1. ( , 1) (1. ) epreciation and amorti ation 1 , 1
Slide 27: Adjusted EBITDA supplemental
Adjusted EBITDA supplemental1 E uity in net income of non indfield oldings unconsolidated investments (net of tax) ( ,5 ) ( , 9 ) (9, ) ( ,9 ) (1, 9 ) ividends received from non indfield oldings unconsolidated investments ,9 , 9 , 1 ,5 , 9 indfield oldings debt 1 ,9 Off balance sheet obligations and
Slide 28: Diluted EPS
Diluted EPS iluted loss per share attributable to Albemarle Corporation common shareholders ( .1 ) (1.95) Add back: Non operating pension and OPEB items (net of tax) Non recurring and other unusual items (net of tax) Restructuring charges and asset write offs . 1. Ac uisition and integration related
Slide 29: Effective Tax Rate
Effective Tax Rate As reported ( ,9 1) , 9 ( .1) Non recurring, other unusual and non operating pension and OPEB items , ( , 1 ) As adjusted 1 , 9 9, 1 159.9 As reported ( 9 ,1 ) ( , ) . Non recurring, other unusual and non operating pension and OPEB items 11,9 , 1 As adjusted (1 ,1 ) ,15 ( 5.9) See
Slide 30: Equity Income and Noncontrolling Interest
Equity Income and Noncontrolling Interest Energy Storage 5 , 51 , Specialties (1 , 9 ) (11, 9 ) etjen , 9 , Corporate 1 ,911 ,95 Total Company , 5 (1 , 9 ) , (11, ) Note: Corporate equity income relates to foreign exchange gains or losses of our Windfield Holdings joint venture. 30
Slide 31: www.albemarle.com
NYSE www.albemarle.com \ Albemarle®