Koppers Holdings Inc. · NYSE:KOP
Koppers — Investor Presentation (July 2026)
46 slides from Koppers's investor presentation, July 2026
Slide 1: Investor Presentation May – July 2026
Investor Presentation May – July 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Kopp
Slide 3: Company Highlights
KOPPERS = Company Highlights
Slide 4: Investment Thesis
Investment Thesis Inflection point in strategy with major capital projects completed and expected to return significant improvement in the near-term with additional long-term upside potential Market leader in critical end markets positioned to 'Expand and Optimize’—through improving cost structure a
Slide 5: Leader in Providing Critical Infrastructure Products
Leader in Providing Critical Infrastructure Products Railroad Koppers Currently Supplies Largest Supplier of Crossties Products & to Class I Railroads in North America Services All 6 North American Utility & Class I Railroads Leading Supplier of Utility Poles in Industrial the U.S. and Australia Pro
Slide 6: Balanced Portfolio Generates Counter Cyclicality
Balanced Portfolio Generates Counter Cyclicality Sales by Sales by Sales by Adjusted EBITDA by RUPS | CMC | PC End Market Geography Segment Segment ~140M poles in existing, aging network; expected to replace 2M to 6% 10% 2.5M poles per year1 16% 29% 9% 29% 40% 2025 2025 2025 2025 42% 49% Adjusted Sa
Slide 7: Business Segment Overview
Business Segment Overview Leading provider of market applications Global leader in water- and oil-borne preservatives for treated wood Railroad and Utility Products and Services Performance Chemicals Carbon Materials and (RUPS) (PC) Chemicals (CMC) • Net Sales: $927 Million • Net Sales: $544 Million
Slide 8: Strategic Transformation Process: Catalyst
Strategic Transformation Process: Catalyst
Slide 9: Strategic Transformation | Catalyst
Strategic Transformation | Catalyst Koppers is in the final multi-year phase of our transformation process, Catalyst. Our Transformation Office has involved hundreds of individuals throughout the organization to identify, evaluate, scope, quantify, plan, and execute hundreds of Progress commercial a
Slide 10: CMC Facility at Stickney, Illinois: Discontinue Distillation and Chemical Manufacturing Operations
CMC Facility at Stickney, Illinois: Discontinue Distillation and Chemical Manufacturing Operations* Stickney, Illinois Nyborg, Denmark Final Production by December 31, 2026* Targeting Q4 2026 for shifting production to coal tar distillation facility located in Nyborg, Denmark Evaluating potentially
Slide 11: Commitment To Sustainability
Commitment To Sustainability
Slide 12: Enduring | Essential | Sustainable
Enduring | Essential | Sustainable Enduring Essential Sustainable Our vertically-integrated Our products and services Our connection to a broad business is time tested and compete in markets that are network of communities, has been shown to perform mission critical. Industries organizations and sta
Slide 13: People | Planet | Performance
People | Planet | Performance • Koppers 6th year earning a spot on the list. • Highlights 600 companies that are taking action each day to uphold their social responsibility. • Rankings are based on more than 30 KPIs in environmental, social and governance performance, financial results, and more. •
Slide 14: Appendix
Appendix ) N Ww KOPPER’
Slide 15: Q1 2026 Financials
KOPPERS = Q1 2026 Financials Ss
Slide 16: Key Takeaways: Q1 2026
Key Takeaways: Q1 2026 HIGHLIGHTS CATALYST TRANSFORMATION $49.3M Adjusted EBITDA • Currently in Organizational Design Phase of Catalyst Transformation 10.8% Adjusted EBITDA Margin Process $22.0M Operating Profit • Announced decision to discontinue distillation and chemical $0.57 Adjusted Earnings Pe
Slide 17: Q1 2026: Sales by Segment
Q1 2026: Sales by Segment (Unaudited) Sales vs. Prior Year $ in Millions $600 $500 -0.3% $400 $455 $457 $300 -6.4% $200 $235 17.5% $220 -7.4% $100 $142 $121 $93 $101 $0 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 RUPS PC CMC TOTAL Note: Segment amounts may not agree with consolid
Slide 18: Q1 2026: Adjusted EBITDA by Segment
Q1 2026: Adjusted EBITDA by Segment (Unaudited) Adjusted EBITDA $ and % vs. Prior Year $ in Millions $60 12.2% $50 10.8% $56 $49 $40 $30 10.9% 18.2% 10.3% $26 16.6% $20 $26 $23 $20 9.8% $10 1.0% $10 $0 $1 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 RUPS PC CMC TOTAL Note: Segment
Slide 19: Q1 2026 RUPS Segment
Q1 2026 RUPS Segment RAILROAD AND UTILITY PRODUCTS AND SERVICES Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $250 $30 Highlights Highlights $225 $235 • Decrease in sales driven by: $220 $25 • Profitability was lower due $200 ✓ Customer mix in Class I $26 primarily to: cr
Slide 20: Q1 2026 PC Segment
Q1 2026 PC Segment PERFORMANCE CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $150 Highlights Highlights $25 $26 $142 • Increase in sales was primarily • Profitability was higher due to: $125 due to: $121 $20 ✓ Higher sales volumes ✓ 15% volume increase along $20
Slide 21: Q1 2026 CMC Segment
Q1 2026 CMC Segment CARBON MATERIALS AND CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $110 Highlights Highlights $100 $10 $101 • Lower sales were primarily $10 • Profitability decreased due to: $90 $93 driven by: ✓ Lower sales prices $80 ✓ $13.9M in lower phtha
Slide 22: Capital Allocation
Capital Allocation
Slide 23: Uses of Cash: Balanced Approach
Uses of Cash: Balanced Approach Investing in Our Future Quarterly Dividend • $11.4M capital expenditures in Q1 2026 (net) • On May 7, Board of Directors declared • Expect $55M total capital expenditures quarterly dividend of $0.09 per share (gross) in 2026 Share Repurchase Reducing Leverage(1) • $29
Slide 24: Q1 2026 Capital Expenditures
Q1 2026 Capital Expenditures ($ in Millions) Growth & Year-to-Date CapEx by Business Unit Maintenance Zero Harm Productivity Total RUPS $4.9 $0.3 $0.2 $5.4 PC 0.4 2.1 0.3 2.8 CMC 1.8 1.0 0.2 3.0 Corporate 0.2 --- --- 0.2 Total $7.3 $3.4 $0.7 $11.4 Less: Cash proceeds from asset sales and insurance p
Slide 25: Declaring Quarterly Cash Dividend
Declaring Quarterly Cash Dividend May May June 5.7.26 5.29.26 6.15.26 Dividend Record Payment Declaration Date Date The Board of Directors approved a quarterly dividend of $0.09 per share of Koppers common stock. At this quarterly dividend rate, the annual dividend is $0.36 per share for 2026, a 12.
Slide 26: Business Sentiment
~- Business Sentiment « ery
Slide 27: State of the Business: PC Performance Chemicals
State of the Business PC: PERFORMANCE CHEMICALS 2026 Market Outlook (Prior): Current Market Outlook: • Market share capture in both residential and industrial • Volume increase of 15% compared to Q1 ’25 split between markets support an 11% expected increase in sales revenue market share growth (9%)
Slide 28: State of the Business: RUPS Utility and Industrial Products
State of the Business RUPS: UTILITY AND INDUSTRIAL PRODUCTS 2026 Market Outlook (Prior): Current Market Outlook: • Market sentiment remains bullish mainly due to increasing • Q1 demand for utility pole products 12% higher by volume electrical demand related to buildout of AI infrastructure (9% organ
Slide 29: State of the Business: RUPS Railroad Products and Services
State of the Business RUPS: RAILROAD PRODUCTS AND SERVICES 2026 Market Outlook (Prior): Current Market Outlook: • Industry consolidation continuing to impact market trends and • Q1 crosstie sales comparison to prior year impacted by resulting in reduced capital spend by railroads unfavorable mix and
Slide 30: State of the Business: CMC Carbon Materials and Chemicals
State of the Business CMC: CARBON MATERIALS AND CHEMICALS 2026 Market Outlook (Prior): Current Market Outlook: • Overall carbon markets remain in turmoil as evidenced by Q4 • Overall carbon markets remain in turmoil ‘25 financial results ✓ Middle East conflict pushing oil and tar prices higher, whil
Slide 31: 2026 Guidance
2026 Guidance (iil
Slide 32: 2026 Sales Forecast: $1.9B - $2.0B
2026 Sales Forecast: $1.9B - $2.0B Sales ($ in Millions) $2,100 ($35M)-$25M $1.9B-$2.0B $2,000 $50M-$65M $20M-$35M $1,900 $1.88B $1,800 $1,700 2025 RUPS PC CMC 2026 32
Slide 33: 2026 Adjusted EBITDA Forecast: $240M - $260M
2026 Adjusted EBITDA Forecast: $240M - $260M Adjusted EBITDA* ($ in Millions) $280 $9M-$16M $270 $0M-$5M $240M-$260M $260 $257M $250 ($26M)-($18M) $240 $230 $220 2025 RUPS PC CMC 2026 * Excluding special charges 33
Slide 34: 2026 Adjusted EPS Forecast: $3.80 - $4.60
2026 Adjusted EPS Forecast: $3.80 - $4.60 Adjusted EPS* $5.00 $0.17-($0.16) $4.75 $0.34-$0.40 $0.10 $3.80-$4.60 ($0.04)- $0.02 $4.50 ($0.84)-$0.17 $4.25 $4.07 $4.00 $3.75 $3.50 $3.25 $3.00 2025 Operations Interest Taxes D&A Other 2026 * Excluding special charges 34
Slide 35: 2026 Free Cash Flow Forecast
2026 Free Cash Flow Forecast $190 $41M $175M $170 ($7M) $150 $12M $7M $130 $123M $6M $120M ($55M) $110 ($7M) ($7M) $90 $58M-$78M $70 ($55M)-($35M) $50 $30 2025 OCF Operations Interest Restructuring Pension Working Taxes 2026 OCF CAPEX 2026 FCF Dividend Share FCF for Debt (midpoint) Settlement Capita
Slide 36: 2026 Capital Expenditures
2026 Capital Expenditures ($ in Millions) Growth & CapEx by Business Unit Maintenance Zero Harm Productivity Total RUPS $17.0 $1.6 $0.2 $18.8 PC 4.5 7.7 5.7 17.9 CMC 12.8 3.4 0.2 16.4 Corporate 1.9 --- --- 1.9 Total $36.2 $12.7 $6.1 $55.0 36
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations ) KOPPER Nn iu (
Slide 38: Non-GAAP Measures & Guidance
Non-GAAP Measures & Guidance This presentation includes unaudited “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934, including adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted EPS, net debt and net leverage ratio. Koppers believes tha
Slide 39: Unaudited Segment Information
Unaudited Segment Information Three Months Ended March 31, 2026 2025 (Dollars in millions) Net sales: Railroad and Utility Products and Services $ 220.0 $ 235.0 Performance Chemicals 142.1 120.9 Carbon Materials and Chemicals 93.2 100.6 Total $ 455.3 $ 456.5 Adjusted EBITDA: Railroad and Utility Pro
Slide 40: Unaudited Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin
Unaudited Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended March 31, Year Ended December 31, 2026 2025 2025 (Dollars in millions) Net income (loss) $ 7.1 $ (13.9) $ 56.0 Interest expense 15.0 16.6 66.1 Depreciation and amortization 19.4 18.0 73.6 Income t
Slide 41: Reconciliations of Net Income to Adjusted Net Income and Adjusted Earnings Per Share
Unaudited Reconciliations of Net Income Attributable to Koppers to Adjusted Net Income Attributable to Koppers and Diluted Earnings Per Share and Adjusted Earnings Per Share Three Months Ended March 31, Year Ended December 31, 2026 2025 2025 (Dollars in millions, except share and per share amounts)
Slide 42: Unaudited Reconciliation of Total Debt to Net Debt and Net Leverage Ratio
Unaudited Reconciliation of Total Debt to Net Debt and Net Leverage Ratio Twelve Months Ended March 31, 2026 (Dollars in millions) Total Debt $ 920.2 Less: Cash 42.8 Net Debt $ 877.4 Adjusted EBITDA $ 250.5 Net Leverage Ratio 3.5 42
Slide 43: Unaudited Reconciliation of Net Income to Adjusted EBITDA (LTM)
Unaudited Reconciliation of Net Income to Adjusted EBITDA (LTM) Twelve Months Ended March 31, 2026 (Dollars in millions) Net income $ 77.0 Interest expense 64.5 Depreciation and amortization 75.0 Income tax provision 29.3 Sub-total 245.8 Adjustments to arrive at adjusted EBITDA: Acquisition inventor
Slide 44: Reconciliation of Operating Cash Flow to Free Cash Flow
Unaudited Reconciliation of Net Cash Provided by (Used In) Operating Activities to Free Cash Flow Three Months Ended March 31, Twelve Months Ended March 31, 2026 2025 2026 2025 (Dollars in millions) Net cash provided by (used in) operating activities $ 46.3 $ (22.7) $ 191.5 $ 109.0 Less: capital exp
Slide 45: Koppers Holdings Inc. 436 Seventh Avenue Pittsburgh, PA 15219-1800
KOPPERS World Headquarters Pittsburgh, Pennsylvania, USA Koppers Holdings Inc. 436 Seventh Avenue Pittsburgh, PA 15219-1800 Koppers is an integrated global provider of essential treated wood products, wood preservation technologies and carbon compounds. Our team of approximately 1,850 employees crea
Slide 46: koppers.com
— KOPPER —— koppers.com Mugu! \