Slide 1: Earnings Conference Call Q4 2025
Earnings Conference Call Q4 2025 Key Financial Figures
Slide 2: Forward Looking Statement
Forward Looking Statement Certain statements in this presentation may be forward‐looking within the meaning of applicable securities laws. Such forward‐looking statements are based on a number of estimates and assumptions that the Company believes are reasonable when made, including that 5N+ will be
Slide 3: Financial Highlights
Financial Highlights ＞ Revenue in FY 2025 reached $391.1 million, compared to $289.3 million in FY 2024, with Q4 2025 increasing by 44% to $102.0 million, compared to $70.9 million in Q4 2024. The increase is primarily attributable to higher volumes under Specialty Semiconductors and higher bismuth-
Slide 4: Revenue
Revenue Quarter ended December 31, 2025 Revenue Revenue – Quarterly Comparison (IN MILLIONS OF USD) (IN MILLIONS OF USD) $104.9 $102.0 $95.3 $95,2 $88.9 $6.8 $70.9 $24.3 $102.0 $70.9 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2024 SPECIALTY PERFORMANCE Q4 2025 SEMICONDUCTORS MATERIALS Revenue in Q4
Slide 5: Adjusted EBITDA & EBITDA
Adjusted EBITDA & EBITDA Quarter ended December 31, 2025 Adjusted EBITDA (IN MILLIONS OF USD) Adjusted EBITDA in Q4 2025 increased by 48% $18.5 to $18.5 million, representing an Adjusted $12.5 EBITDA margin of 18.1%, compared to $12.5 million, or an Adjusted EBITDA margin1 of $9.0 17.6%, in Q4 2024.
Slide 6: Backlog
Backlog Quarter ended December 31, 2025 Backlog (IN NUMBER OF DAYS) Backlog on December 31, 2025, represented 353 days of annualized revenue, 42 days higher than the backlog on September 30, 353 2025. 326 311 297 Bookings1 for Specialty Semiconductors 268 decreased by 32 days from 149 days in Q3 202
Slide 7: Non-IFRS Measures
Non-IFRS Measures Quarter ended December 31, 2025 Adjusted EBITDA Adjusted EBITDA means operating earnings (loss) as defined before the (in thousands of U.S. dollars) Q4 2025 Q4 2024 FY 2025 FY 2024 $ $ $ $ effect of impairment of inventories, share-based compensation expense Revenues 101,968 70,854
Slide 8: Non-IFRS Measures
Non-IFRS Measures Quarter ended December 31, 2025 EBITDA EBITDA means net earnings (loss) before interest expenses, income tax Q4 2025 Q4 2024 FY 2025 FY 2024 (in thousands of U.S. dollars) $ $ $ $ expense (recovery), depreciation and amortization. 5N+ uses EBITDA Net earnings 7,590 1,006 50,566 14,
Slide 9: Non-IFRS Measures
Non-IFRS Measures Quarter ended December 31, 2025 Net debt Net debt is calculated as total debt less cash. Any introduced IFRS 16 As at As at (in thousands of U.S. dollars) December 31, 2025 December 31, 2024 reporting measures in reference to lease liabilities are excluded from the $ $ calculation.
Slide 10: Enabling Performance
5N-+ Enabling Performance