Olin Corporation · NYSE:OLN
Olin — Q3 2026 Earnings Presentation
19 slides from Olin's earnings presentation, Oct 30, 2026
Slide 1: Third Quarter 2026 Earnings Call
Third Quarter 2026 Earnings Call October 30, 2026
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by management, forec
Slide 3: Key 3Q26 Highlights
Key 3Q26 Highlights 1 Stable domestic ECU values; lower export caustic soda and EDC values 2 VCM assets returned to normal operations 3 Epoxy business benefited from improved cost structure and growth in Formulated Solutions 4 Improved demand Winchester commercial pricing and 5 Overwhelming sharehol
Slide 4: OlinHuntsman Merger of Equals – Transaction Update
OlinHuntsman Merger of Equals – Transaction Update Merger now expected to close first quarter 20271 Key Milestones • Overwhelming shareholder support Jun 16: Merger agreement announced • Merger clearances already received from the U.S. and Jul 9: Shareholder record date Brazil, all other required re
Slide 5: Chlor Alkali Products & Vinyls Segment Performance
Chlor Alkali Products & Vinyls Segment Performance Sales ($M) Adjusted EBITDA ($M) $237 $924 Actions $820 $851 • Continuing our value-based $162 $152 commercial approach • Delivering Beyond250 savings Looking Ahead • Heightened 4Q seasonality 3Q25 2Q26 3Q26 3Q25 2Q26 3Q26 • Elevated 4Q turnaround sp
Slide 6: Epoxy Segment Performance
Epoxy Segment Performance Sales ($M) Adjusted EBITDA ($M) Actions $422 $412 $28 • Price initiatives to offset rising $350 hydrocarbon costs $12 • Supporting EU Safeguards initiative Looking Ahead • Higher 4Q turnaround costs $(19) • Continued weak global demand 3Q25 2Q26 3Q26 3Q25 2Q26 3Q26 • Rising
Slide 7: Winchester Segment Performance
Winchester Segment Performance Sales ($M) Adjusted EBITDA ($M) $500 $485 $43 Actions $440 $37 • Continued price actions to offset cost escalations $27 • Accelerating Beyond250 savings Looking Ahead • YTD 2026 NICS1 background checks up YoY 3Q25 2Q26 3Q26 3Q25 2Q26 3Q26 • Tariffs continue to limit U.
Slide 8: Financial Highlights
Financial Highlights Bond Maturity Profile1 ($M) Highlights • Expect YE26 net debt to increase over YE25, due to legacy litigation payments and acquisition-related costs $669 $683 • Cash taxes ~$10 million $515 • On track to deliver $110-120 million Beyond250 savings Cash Positions (as of 9/30/26) •
Slide 9: 4Q26 Outlook
4Q26 Outlook • Caustic export market tightening with sequential price momentum CAPV • EDC pricing finding support from high global feedstocks • Higher planned maintenance turnaround costs • Significantly higher planned maintenance turnaround costs Epoxy • European demand remains weak; US demand slow
Slide 10: Q&A
Q&A Oli : ESSENTIAL wil SOLUTIONS 3026 EARNINGS @)* \
Slide 11: Appendix
Appendix sli © | ESSENTIAL QZEEM sciutions
Slide 12: 3Q26 vs. 2Q26 Adjusted EBITDA Bridge ($M)
3Q26 vs. 2Q26 Adjusted EBITDA Bridge ($M) $11 $191 $6 $191 $(1) $(16) + Higher caustic + Higher Formulated + Improved Comparable soda and water Solutions volume commercial treatment volume pricing and - Lower aromatics volume + Higher VCM and Epi pricing operating rates - Higher raw - Higher raw mat
Slide 13: Beyond250 Driving Sustainable Operational Excellence
Beyond250 Driving Sustainable Operational Excellence Projected Beyond250 Investor Day Annual Added Savings Actions Underway Targets $250+ $50-60 • Realtime visual KPI control room dashboards driving improved yield performance CAPV $60-80 • Expanding preventative maintenance and asset-criticality ~$1
Slide 14: Outlook: Full Year 2026 Modeling Assumptions
Outlook: Full Year 2026 Modeling Assumptions Line Item Forecast ($M) Key Elements Capital Spending ~$200 Expected to be lower than 2025 levels Depreciation & Amortization ~$470 Expected to be lower than 2025 levels Non-Operating Pension Income $10 to $15 Expected to be lower than 2025 income levels
Slide 15: Delivering on Our Value Strategy
Delivering on Our Value Strategy 3Q26 Profit Contribution Index (ECU PCI) Sequential Olin Pricing Comparison 100 = Q1 2020 3Q26 vs. 2Q26 294 Chlorine 287 262 261 Caustic Soda 257 255 238 EDC 222 211 207 Bleach Index 192 191 187 186 180 HCl 172 169 168 167 157 153 153 148 Chlorinated Organics Aromati
Slide 16: Maintenance Turnaround Expenses
Maintenance Turnaround Expenses1 Chlor Alkali Products & Vinyls ($M) Epoxy ($M) Actual 2025 Actual 2026 Forecast 2026 Actual 2025 Actual 2026 Forecast 2026 $164 $141 $47 $47 $50 $39 $42 $41 $42 $34 $25 $27 $14 $14 $9 $2 $1 $3 $2 $4 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year • CAPV – Freeport, TX et
Slide 17: Non-GAAP Financial Measures – Adjusted EBITDA
Non-GAAP Financial Measures – Adjusted EBITDA1 Olin's definition of Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is net income (loss) plus an add-back for depreciation and amortization, interest expense (income), income tax provision (benefit), other expense (inc
Slide 18: Non-GAAP Quarterly Financial Measures by Segment
Non-GAAP Quarterly Financial Measures by Segment1 Three Months Ended Three Months Ended Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Income Income Income (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted ($ in mil
Slide 19: Non-GAAP YTD Financial Measures by Segment
Non-GAAP YTD Financial Measures by Segment1 Nine Months Ended Nine Months Ended September 30, 2026 September 30, 2025 Income (Loss) Reconciling Depr and Adjusted Income (Loss) Reconciling Depr and Adjusted ($ in millions) before Taxes Items Amort EBITDA before Taxes Items Amort EBITDA Chlor Alkali P