Lsb Industries, Inc. · NYSE:LXU
Lsb Industries — Investor Presentation (September 2026)
23 slides from Lsb Industries's investor presentation, Sep 9, 2026
Slide 1: LSB Industries, Inc. September 2026 Investor Presentation
LSB Industries, Inc. September 2026 Investor Presentation Exhibit 99.1
Slide 2: Forward-Looking Statements
Statements in this presentation that are not historical or factual are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the safe harbor provisions of the U.S. Private
Slide 3: Investment Highlights
Investment Highlights 2 3 4 5 Advantaged U.S. Nitrogen Production Platform: Strategically located assets accessible to low-cost U.S. natural gas and regional industrial / agricultural demand centers Nitrogen Market Backdrop: Improving urea and urea ammonium nitrate (UAN) pricing supported by global
Slide 4: LSB Industries At a Glance
LSB Industries At a Glance A Diversified U.S. Nitrogen Chemicals Platform Producer of ammonia and a leading merchant marketer of nitric acid and ammonium nitrate (AN) in the U.S. Own and operate three strategically located multi-plant production facilities in El Dorado, AR; Cherokee, AL; and Pryor,
Slide 5: Balanced Product & End-Market Mix
Balanced Product & End-Market Mix Provides stability and optimization opportunities Nitric Acid Weak Nitric Acid Concentrated Nitric Acid Mixed Acids Semiconductor, nylon & polyurethane intermediates, ammonium nitrate, metals processing, defense / armaments Ammonia Refrigerant Grade Commercial Grade
Slide 6: Leverage, Safety & Operational Improvement
Leverage, Safety & Operational Improvement Net Leverage Ratio(1) Balance sheet transformed leverage cut from 11.3x to 1.1x and held at target Total Recordable Injury Rate (Rolling 12-Month) Greatly improved safety record few statistics are more emblematic of a culture of excellence Normalized Sales
Slide 7: Operating Strategy to Drive Value Creation
Converting available tons into higher-value earnings through reliability, downstream optimization and cost discipline Operating Strategy to Drive Value Creation Operational Execution Translating market opportunity into increased EBITDA and Free Cash Flow Improve Reliability / Onstream Rates Increase
Slide 8: Multiple Levers To Drive Additional Near and Long-Term Earnings Growth
Advantaged assets, improving performance and visible growth create meaningful upside Multiple Levers To Drive +50% Additional Near and Long-Term Earnings Growth COMPANY DRIVEN(1) '26–'27 EBITDA Run-Rate(2) Potential Future EBITDA Benefit (2) Operational Self-Help / Product Mix Optimization Operation
Slide 9: Global Nitrogen Backdrop
Global nitrogen markets remain sensitive to supply disruptions, trade flow instability and feedstock cost volatility Global Nitrogen Backdrop 1 2 3 4 5 1 3 2 4 5 North America Advantaged Structurally low-cost natural gas, integrated production and proximity to key agricultural and industrial demand
Slide 10: Well Positioned in the Nitrogen Cycle
Global supply / demand dynamics create favorable backdrop Well Positioned in the Nitrogen Cycle LSB Built to Perform in This Cycle Higher Reliability More onstream production to capture market opportunities Downstream Focus Greater conversion of ammonia to higher-value products Diversified Exposure
Slide 11: Positive Outlook on Industrial Markets
Demand for Ammonium Nitrate for explosives in mining is strong. Mining is undergoing a multi-decade structural expansion, particularly in copper, gold, and other critical minerals AN demand for quarrying/aggregate production continues to grow, driven by AI-related infrastructure, data centers, power
Slide 12: Increasing Industrial Business Decreases Earnings Volatility
Greater portion of industrial sales volumes increases ability to pass through natural gas costs to customers Increasing Industrial Business Decreases Earnings Volatility 19% 81% 2021 Pricing as % of Total Sales Volume 39% 61% Projected 2026E* Pricing as % of Total Sales Volume Tied to Gas (Cost-Plus
Slide 13: Industrial volumes are scaling fast – copper is the engine
Industrial volumes are scaling fast – copper is the engine Power Generation Tailwinds Support Growth Across the Industrial Business Note: Volume percentage excludes sulfuric acid and carbon dioxide. +97% total volume growth Copper volume expected to grow 6.6x Copper drives ~72% of all volume growth
Slide 14: Positive outlook for fertilizer
Positive outlook for fertilizer Sources: Green Markets® A Bloomberg Company Agricultural Market Ammonia prices currently reflect reduced ammonia supply from the Middle East and Trinidad due to production outages and natural gas supply constraints, higher costs of production in Europe, and reduced de
Slide 15: Financial Summary
Q2’26 TTM Adjusted EBITDA Margin(2) 30% +760bps vs. Q2’25 TTM Q2’26 TTM Net Sales $658M +22% vs. Q2’25 TTM Improved profitability supported by stronger production performance and commercial execution Financial Summary Q2’26 TTM Adjusted EBITDA(1) $199M +63% vs. Q2’25 TTM Net Sales increased 22% year
Slide 16: Balance Sheet & Capital Allocation
A strengthened balance sheet and robust liquidity provides flexibility to invest, reduce leverage and create shareholder returns Balance Sheet & Capital Allocation Reduced net leverage ratio from 11.3x as of 12/31/20 to 1.8x as of 12/31/25, and to 1.1x as of 6/30/26 Returned capital to shareholders
Slide 17: El Dorado CCS Project
Low-carbon ammonia project adds strategic and financial upside at El Dorado El Dorado CCS Project Overview Financial / Strategic Value Project Structure Carbon capture and sequestration project at LSB’s El Dorado facility Expected to capture and permanently sequester 400-500K MT of CO2 per year Prod
Slide 18: Appendix
Appendix 18
Slide 19: Experienced Management Team
Focused on Driving Shareholder Returns MARK BEHRMAN Chairman & Chief Executive Officer CHERYL MAGUIRE EVP, Chief Financial Officer SCOTT BEMIS EVP, Manufacturing DAMIEN RENWICK EVP, Chief Commercial Officer Experienced Management Team MICHAEL FOSTER EVP, General Counsel & Secretary KRISTY CARVER SVP
Slide 20: Manufacturing Flexibility
Yields a Broad Range of Products and Optimized Product Mix Manufacturing Flexibility Truck Rail Ammonia Pipeline (El Dorado) Barge (Cherokee) Ammonia Urea Nitric Acid AN Solution UAN LDAN Prill CO2 Note 1 Note 2 Note 1 Natural Gas (Pipeline) (1) Urea and UAN manufactured at Cherokee and Pryor (2) LD
Slide 21: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation (1) EBITDA is defined as net income (loss) plus interest expense and interest income net, plus loss (or less gain) on extinguishment of debt, plus depreciation and amortization (D&A) (which includes D&A of property, plant and equipment and amortization of in
Slide 22: Trailing Twelve Month EBITDA and Adjusted EBITDA
Trailing Twelve Month EBITDA and Adjusted EBITDA* (1 ) See definition of EBITDA on previous page (2) See definition of adjusted EBITDA on previous page *Columns and rows may not foot due to rounding TTM 6/30/26 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Net income (loss) $36.7 ($6.2) $19.7 $16.1 $7.1
Slide 23: 2019 – 2025 EBITDA and Adjusted EBITDA
2019 – 2025 EBITDA and Adjusted EBITDA* (1) EBITDA is defined as net income (loss) plus interest expense and interest income net, plus loss (or less gain) on extinguishment of debt, plus depreciation and amortization (D&A) (which includes D&A of property, plant and equipment and amortization of inta
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