Calumet, Inc · NASDAQ:CLMT

Calumet — Calumet Specialty Products Partners — Corporate Update (April 2021)

6 slides from Calumet's corporate update, Apr 26, 2021

  1. Slide 1: External Reporting Adjustments April 2021

    External Reporting Adjustments April 2021

  2. Slide 2: Segment Reporting Change

    © 2021 Calumet Specialty Products Partners, L.P. 2 • Historically, the Partnership reported its results in the following three segments: • Specialty products • Fuel products • Corporate • During the first quarter of 2021, as a result of a change in how the Partnership’s chief operating decision make

  3. Slide 3: Reporting Adjusted EBITDA

    © 2021 Calumet Specialty Products Partners, L.P. 3 • Segment Adjusted EBITDA and consolidated Adjusted EBITDA will exclude mark-to-market (MTM) changes of Renewable Identification Numbers (RINs) • MTM of RINs is a non-cash accrual and is calculated as change in price at end of period multiplied by p

  4. Slide 4: Transportation Costs and Adjusted Gross Profit Reporting Changes

    © 2021 Calumet Specialty Products Partners, L.P. 4 • Transportation Costs moved from Operating expense to Cost of Sales • Enhances understanding of profitability by including both revenue from billed freight and the associated transportation expense in Adjusted Gross Profit • Historically, billed tr

  5. Slide 5: Reconciliation of Gross Profit (Loss) to Adjusted Gross Profit

    © 2021 Calumet Specialty Products Partners, L.P. 5 Reconciliation of Gross Profit (Loss) to Adjusted Gross Profit ($ in millions) FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Consolidated Gross profit as previously reported1 $ 451.7 $ 54.3 $ 89.3 $ 44.6 $ 21.9 $ 210.1 Transportation Expense (122.

  6. Slide 6: Calculation of Specialty Product and Solutions Material Margin

    © 2021 Calumet Specialty Products Partners, L.P. 6 Calculation of Specialty Product and Solutions Material Margin ($ in millions) FY 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 FY 2020 Segment gross profit (loss) as recast $ 203.6 $ (5.9) $ 32.2 $ 0.5 $ (8.1) $ 18.7 LCM (gain) loss (18.2) 53.9 (23.2) 0.5 (

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