Trinseo PLC · OTC:TSEOQ
Trinseo — Q3 2025 Earnings Presentation
15 slides from Trinseo's earnings presentation, Nov 6, 2025
Slide 1: Third Quarter 2025 Financial Results & Fourth Quarter Outlook
Third Quarter 2025 Financial Results & Fourth Quarter Outlook November 6, 2025 ™Trademark of Trinseo PLC or its affiliates 1
Slide 2: Introductions & Disclosure Rules
Introductions & Disclosure Rules Introductions • Frank Bozich, President & CEO • David Stasse, Executive Vice President & CFO • Bee van Kessel, Senior Vice President, Corporate Finance & Investor Relations Disclosure Rules This presentation may contain forward-looking statements including, without l
Slide 3: Summary
Summary • Net loss of $110 million and EPS of negative $3.05 • Adjusted EBITDA* of $30 million was inclusive of $9 million of unfavorable net timing and negative Q3 2025 Results equity income from Americas Styrenics • Continuation of Q2 supply/demand dynamics with Q3 volumes similar to Q2 volumes •
Slide 4: Significant Industry Trade Flow Changes (ABS & PMMA)
Significant Industry Trade Flow Changes (ABS & PMMA) US Imports and Exports Europe Imports and Exports 55 75 ABS Q2 YoY: ABS Q2 YoY: Imports +9% 65 Imports +20% 45 Exports (3)% Exports (22)% 55 Volume (KT) Volume (KT) ABS ABS Imports 45 Imports 35 ABS ABS Exports 35 Exports PMMA PMMA 25 Imports 25 I
Slide 5: Q3 2025 Sales and Volume Summary
Q3 2025 Sales and Volume Summary Q3 Net sales in $millions Q3 Volume variances exclude styrene-related sales Third Quarter Volume Drivers: Rest of World $33 Europe Sales Volume • Lower year over year volumes in Latex Binders paper YoY: (0)% & board and textile due to mill closures and Asia-Pacific c
Slide 6: Trinseo Q3 2025 Financial Results
Trinseo Q3 2025 Financial Results Net Sales & Net Loss EPS ($) Adjusted EBITDA* ($MM) ($MM) Q3'25 Q3'24 $66 Q3'25 Q3'24 $868 ($3.05) ($2.47) $743 $30 ($58) ($110) ($87) ($87) Net Sales Net Loss Adjusted Net Loss Diluted EPS Q3'25 Q3'24 Net Sales Vol Price FX Total (7%) (9%) 2% (14%) • Adjusted EBITD
Slide 7: Engineered Materials
Engineered Materials Net Sales ($MM) Adjusted EBITDA ($MM) Volume (kt) $294 $273 $34 $34 74 70 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Vol Price FX Total (8%) (1%) 1% (7%) • Adjusted EBITDA was flat versus prior year, with lower medical volumes offsetting higher building and cons
Slide 8: Latex Binders
Latex Binders Net Sales ($MM) Adjusted EBITDA ($MM) Volume (kt) $242 $26 106 $198 97 $17 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Vol Price FX Total (8%) (12%) 2% (18%) • Adjusted EBITDA was $9 million below prior year mainly due to lower volumes and margins, primarily in paper an
Slide 9: Polymer Solutions
Polymer Solutions Net Sales ($MM) Adjusted EBITDA ($MM) Volume* (kt) $331 166 167 $271 $23 $4 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Qtr3 2025 Qtr3 2024 Vol Price FX Total (6%) (15%) 3% (18%) • Adjusted EBITDA of $4 million was $19 million below prior year, primarily from $9 million of unfavorable
Slide 10: Debt and Liquidity (Q3 2025)
Debt and Liquidity (Q3 2025) Cash and Borrowing Debt Maturity Schedule ($ millions) Facilities ($ millions) Revolving Credit Facility* $237 $1,956 $7 AR Securitization** $102 Cash*** $443 $346MM Combined Cash and Availability under 2025 2026 2027 2028 Term Loans 2029 2L Senior Committed Facilities S
Slide 11: 2025 Profitability and Cash Generation Outlook
2025 Profitability and Cash Generation Outlook • Q4 net loss of $170 million to $180 million and Adjusted EBITDA* of $30 million to $40 million • FY net loss of $408 million to $418 million and Adjusted EBITDA* of $167 million to $177 million • FY cash used in operations of approximately $90 million
Slide 12: Appendix
Appendix 12
Slide 13: Segment Information
Segment Information (in $millions, unless noted) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 2023 2024 Engineered Materials 73 77 73 76 78 88 74 71 72 76 70 300 310 Latex Binders 112 117 112 106 119 111 106 97 98 92 97 447 434 Polymer Solutions 210 200 192 177 204 174 167 172 1
Slide 14: US GAAP to Non-GAAP Reconciliation
US GAAP to Non-GAAP Reconciliation Full Year 2023 2024 (in $millions, unless noted) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Net Loss (48.9) (349.0) (38.4) (265.0) (75.5) (67.8) (87.3) (117.9) (79.0) (105.5) (109.7) (701.3) (348.5) Interest expense, net 38.3 40.2 46.6 63.3 6
Slide 15: US GAAP to Non-GAAP Reconciliation
US GAAP to Non-GAAP Reconciliation Profitability Outlook Cash Flow Outlook NOTE: For definitions of non-GAAP measures as well as descriptions of current period reconciling items from Net Income (Loss) to Adjusted EBITDA and to Adjusted Net Income (Loss), refer to the accompanying press release furni