Rayonier Advanced Materials Inc. · NYSE:RYAM
Rayonier Advanced Materials — 2025 East Coast IDEAS Investor Conference
22 slides from Rayonier Advanced Materials's conference presentation, Jun 11, 2025
Slide 1: Investor Presentation: Second Quarter Equity Conferences
Investor Presentation Second Quarter Equity Conferences June 2025
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to future events, developments or financial or operational performan
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This earnings release and the accompanying schedules contain certain non-GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted free cash flows, adjusted income from continuing operations, adjusted net debt, and net secured debt. The Company believes these n
Slide 4: Who is RYAM
Who is RYAM Cellulose Cellulose ⎔ For nearly 100 years, RYAM has developed a platform that Specialties Commodities Biomaterials Paperboard High-Yield Pulp produces natural cellulose fibers that create value in a • Kallima® brand • Mechanical o Acetate o Fluff o Biofuels • Packaging Hardwood diverse
Slide 5: RYAM History
RYAM History A RICH HISTORY OF INNOVATION Rainier Pulp Rayonier's team Rayonier Rayonier innovates Rayonier supplies Rayonier develops Rayonier Advanced RYAM completes develops sustainable discovers wood introduces cold fluff pulp for consumer cellulose for film/LCD thinner LCD films and Materials r
Slide 6: Overview
Overview Employees U.S., Canada, France, Research Facilities 2,350 2 GLOBAL FOOTPRINT United Kingdom, China U.S. and France and Japan Sales Offices Manufacturing Facilities U.S., Canada, France, 4 7 U.S., Canada and France United Kingdom, China and Japan 6
Slide 7: RYAM Is Everywhere
RYAM Is Everywhere Food Personal Fluff Hygiene Ethers Pharmaceuticals Industrial Viscose/Lyocell Textiles Filter Lignin Biomaterials Bioethanol Acetate Plastic LCD/Film Bioenergy Tire Cord Packaging Casings Lottery Paperboard Filtration Commercial Other CS Nitrocellulose Print Microcrystalline Cellu
Slide 8: Business Overview
Business Overview ENTERPRISE REVENUES AND EBITDA Revenue ($ Billions) Q1 2025 Revenue by Product Cellulose $1.7 Specialties $1.6 $1.6 7% $1.5- Fluff $1.4 $1.4 $1.6 14% $1.3 Down from Non-Fluff 2% 15% in 2023 Commodities 5% 56% Biomaterials 16% Paperboard High-Yield Pulp 2019 2020 2021 2022 2023 2024
Slide 9: Why Invest in RYAM?
Why Invest in RYAM? 1 Industry Leader in Tightening Cellulose Specialties Market 2 Clear Path to Margin Expansion Through Cost Optimization Initiatives 3 Significant Upside in Biomaterials Expansions 4 Credible Financial Plan to Fund Growth 9
Slide 10: Yesterday, Today, & Tomorrow
Yesterday, Today, & Tomorrow INVESTOR DAY 2023 PLAN → EXECUTED ACHIEVEMENTS (2023–2025) Progress to Date (2023–2025) Temiscaming HPC Indefinite Suspension Executed ⎔ Reduced commodity exposure from 15% to 5% of sales in 2024 ⎔ Loss impact: ~($60M) in 2023 reduced to ~($5M) in 2025 France Bioethanol
Slide 11: Future CS Supply and Demand Dynamic
Future CS Supply and Demand Dynamic MARKET DYNAMICS TIGHTEN AMID CAPACITY RATIONALIZATION Reflects ~10% reduction in CS industry capacity Shipment to Capacity 85% 81% 82% 83% 80% 87% 90% 92% 91% Ratio(1) 1.6 1.4 MILLIONS OF TONNES (2) 0.2 0.3 0.2 0.1 0.3 0.1 0.1 1.2 0.3 0.2 1.0 0.8 0.6 1.2 1.2 1.2 1
Slide 12: High-Return Strategic CapEx Opportunities
High-Return Strategic CapEx Opportunities STRICT HURDLE RATE: MINIMUM >30% ROE WITH <2-YEAR PAYBACK C ($ Millions) 2025 Strategic 2025 Ext. 2025 Strategic 0Total Strategic Total Ext. Total Strategic CapEx oFull Production EBITDA Benefit (1) Project Aera 0 CapEx Financing CapEx, net 2 CapEx Financing
Slide 13: RYAM's Compelling Biofuture
RYAM’s Compelling Biofuture 1 RYAM has access to feedstock from its existing CS process 2 Economies of scale and variable contribution economics 3 Established technologies & markets demanding products 4 Substantial incremental EBITDA with compelling margins and investment returns 13
Slide 14: Biomaterial Products
Biomaterial Products ESTABLISHED TECHNOLOGIES WITH EXISTING MARKETS BIOETHANOL CRUDE TALL OIL PREBIOTICS (CTO) SUSTAINABLE PRE- AVIATION FUEL LIGNOSULPHONATE HYDROLYZED LIQUOR (SAF) (LIQUID + POWDER) (PHL) 14
Slide 15: RYAM's Compelling Proposition
RYAM’s Compelling Proposition STABLE CORE BUSINESS AND BIOMATERIALS DRIVE RUN RATE EBITDA TO $325M IN 2027 Key Drivers 12.5x 18.0% ⎔ Stable Core CS Business with favorable 17% supply and demand dynamics 16.0% – Recent capacity rationalization has 10.0x 15% significantly tightened the CS market 10.0x
Slide 16: Appendix
Appendix
Slide 17: Understanding the Value Chain
Understanding the Value Chain INPUT PROCESSING PRODUCTS END MARKETS Food CUSTOMIZED PER CUSTOMER APPLICATION FINISHING Ethers* Pharmaceuticals Industrial Filter Acetate* Plastic LCD/Film Hardwood & Kraft CUSTOMER END USES Softwood Tire Cord Casings Other CS* Filtration Pulping Bleaching Nitrocellulo
Slide 18: Q1'25 Financial Highlights
Q1’25 Financial Highlights Revenue by Segment/Product ⎔ Revenue of $356 million; -$32 million from Q1’24 ⎔ Operating Loss of $15 million; -$32 million from Q1’24 ⎔ Adjusted Free Cash Flow generation of $10 million; +$26 million from Q1’24 ⎔ Adjusted EBITDA of $17 million; -$35 million from Q1’24 – C
Slide 19: Capital Structure & Liquidity
Total Liquidity Capital Structure & Liquidity Cash $131 $272 $130 Factoring (France) Million ABL (North America) ⎔ Adjusted Net Debt of $653 million, $90 million reduction from Q1’24 $11 – Net Secured debt of $624 million, $97 million reduction from Q1’24 Amount ⎔ $272 million of liquidity, includin
Slide 20: 2025 Guidance
2025 Guidance EBITDA: $175-$185M | ADJUSTED FREE CASH FLOW: $5-$15M ($ Millions) $175-185 Capital allocation $(93) decision to repay debt or invest in high return strategic capital projects $5 $10 $5-15 $(5) $(2) $(85) Adjusted EBITDA Cash Interest (1) Maintenance Enviro/Tax/ Working Capital (2) Fra
Slide 21: Navigating 2025: Strategic Initiatives Amid Tariff Challenges
Navigating 2025: Strategic Initiatives Amid Tariff Challenges Immediate Focus: Sustained Commitment: Tariff Mitigation 2025 Strategic Initiatives – Customer Advocacy: – Debt Reduction: – Continuing strategic dialogues and leveraging relationships to mitigate – Gross debt reduced by $15M year-over-ye
Slide 22: Tariffs: Impact & Mitigation Summary
Tariffs: Impact & Mitigation Summary Cellulose Specialties Cellulose Commodities Paperboard Exposed Market ⎔ China/European Union ⎔ China/European Union ⎔ US Coated Paperboard ⎔ Retaliatory tariff from China/EU ⎔ Retaliatory tariff from China/EU ⎔ US tariff implementation Revenue Exposed ⎔ China: ~$
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