Slide 1: 1Q25 Earnings Summary
1Q25 Earnings Summary May 1, 2025 1
Slide 2: Earnings Summary Conference Call
1st Quarter 2025 Earnings Summary Conference Call Friday, May 2, 2025 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=J4Z1igJk Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201) 378-4913 2
Slide 3: General Disclosure
General Disclosure Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward- looking statements include statements concerning our plans, obj
Slide 4: Highlights
1Q25 Earnings Summary Highlights ($ in millions, except per share amounts) 1Q25 1Q24 Revenues $ 1,410 $ 1,470 Net loss attributable to Huntsman Corporation $ (5) $ (37) Adjusted net loss $ (19) $ (11) Diluted loss per share $ (0.03) $ (0.22) Adjusted diluted loss per share $ (0.11) $ (0.06) Adjusted
Slide 5: Polyurethanes
1Q25 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 1Q 2025 LTM Adjusted EBITDA Margin $3.9B Sales Revenue $912 $926 $42 $39 $248M Adj. EBITDA 5% 4% 6% Adj. EBITDA Margin 1Q25 1Q24 1Q25 1Q24 Highlights 2Q25 Outlook 1Q25 Y/Y Change Volumes increased 3% year-over-year Second quarter 2025
Slide 6: Performance Products
1Q25 Earnings Summary Performance Products Revenues Adjusted EBITDA 1Q 2025 LTM $400 Adjusted EBITDA Margin $1.1B Sales Revenue $291 $350 $257 $42 $141M $300 Adj. EBITDA $30 $250 $200 14% 13% $150 Adj. EBITDA Margin 12% $100 $50 $0 1Q25 1Q24 1Q25 1Q24 Highlights 2Q25 Outlook 1Q25 Y/Y Change Volume
Slide 7: Advanced Materials
1Q25 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 1Q 2025 LTM Adjusted EBITDA Margin $1.0B Sales Revenue $400 $43 $36 $350 $261 $249 $172M $300 $250 Adj. EBITDA $200 14% 16% 16% $150 $100 Adj. EBITDA Margin $50 $0 1Q25 1Q24 1Q25 1Q24 Highlights 2Q25 Outlook 1Q25 Y/Y Change Volumes
Slide 8: Revenue Bridge
1Q25 Earnings Summary Revenue Bridge Year / Year Quarter / Quarter ($16) ($18) ($11) ($12) ($26) ($19) $1,470 $1,452 $1,410 $1,410 (1) (2) (2) (1) (2) (2) 1Q24 Revenue Volume Price & Mix FX 1Q25 Revenue 4Q24 Revenue Volume Price & Mix FX 1Q25 Revenue (1) Excludes sales volumes of byproducts and raw
Slide 9: Adjusted EBITDA Bridge – By Division
1Q25 Earnings Summary Adjusted EBITDA Bridge – By Division Year / Year Quarter / Quarter $3 $7 $7 $3 ($12) ($1) ($7) ($8) $81 $72 $71 $72 1Q24 Adjusted Polyurethanes Performance Advanced Corporate and 1Q25 Adjusted 4Q24 Adjusted Polyurethanes Performance Advanced Corporate and 1Q25 Adjusted EBITDA P
Slide 10: Cash Flow and Liquidity Considerations
1Q25 Earnings Summary Cash Flow and Liquidity Considerations 1Q25 Commentary Earnings and Cash Flow 1Q24 1Q25 2024 LTM Adjusted EBITDA $81 $72 $414 $405 Investment grade balance sheet with $1.3 billion of liquidity at the close Cash Flow From Operations ($63) ($71) $285 $277 of the quarter Capital
Slide 11: Tariff Considerations
1Q25 Earnings Summary Tariff Considerations Indirect Impact Potential far Greater than Direct Impact Direct Indirect Most of Huntsman’s production supplies customers Current order pattern highly uncertain across end markets: within the same region • Automotive • Construction Polyurethanes • Aerospac
Slide 12: 2025 Action Priorities and Key Initiatives
1Q25 Earnings Summary 2025 Action Priorities and Key Initiatives 1 2 3 4 Growth Europe Rightsize Cash Management Cost Management Complete and Deliver on Supply Chain Financing Performance Products Continued Restructuring Polyurethanes Restructuring Program Capital Investments Deliver Further on US M
Slide 13: 2Q25 Outlook Summary
1Q25 Earnings Summary 2Q25 Outlook Summary 2Q25 Adjusted EBITDA Polyurethanes $35M – $50M Performance Products $30M – $40M Advanced Materials $35M – $40M Corporate ~($40M) Total ~$60M – $90M Underlying 2Q25 Guidance Assumptions Uncertainty from tariff pronouncements continues throughout second qua
Slide 14: 2025 Additional Modeling Considerations
1Q25 Earnings Summary 2025 Additional Modeling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$160M Dividends from Equity Affiliates ~$75M Headwind YoY Cost Savings Program Benefit ~$60M(1) Pension Contributions Similar to 2024 Interest Expense ~$10M Headwind
Slide 15: Financials and Reconciliation
1Q25 Earnings Summary Financials and Reconciliation USD In millions 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 1Q25 LTM Segment Revenues: Polyurethanes $ 991 $ 1,012 $ 967 $ 895 $ 3,865 $ 926 $ 1,001 $ 1,003 $ 970 $ 3,900 $ 912 $ 3,886 Performance Products 334 307 277 260 1,178 291 299 2
Slide 16: Financials and Reconciliation
1Q25 Earnings Summary Financials and Reconciliation USD In millions 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 1Q25 LTM Net income (loss) $ 166 $ 31 $ 15 $ (59) $ 153 $ (23) $ 38 $ (17) $ (125) $ (127) $ 11 $ (93) Net income attributable to noncontrolling interests (13) (12) (15) (12) (5