Albemarle Corporation · NYSE:ALB
Albemarle — Q2 2026 Earnings Presentation
35 slides from Albemarle's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026 Earnings
Q2 2026 Earnings August 6, 2026 8:00am ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations and beliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o
Slide 3: Non-GAAP Measures
Non-GAAP Measures It should be noted that adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted (loss) earnings per share attributable to common shareholders, non-operating pension and
Slide 4: Strong Start to 2026 Continues
Strong Start to 2026 Continues Focus on Operational Excellence Enables Solid Earnings & Cash Flow STRONG OPERATIONAL EXECUTION, DEMONSTRATED BY Q2 2026 RESULTS: Net sales of $1.7B (+31% Y/Y); higher pricing in Energy Storage and increased pricing and volumes in Specialties Adj. EBITDA1 of $858M
Slide 5: Q2 2026 Financial Summary
Q2 2026 Financial Summary In millions, except per share amounts Q2 2026 Q2 2025 Variance Net Sales $1,743 $1,330 +31% Net Income Attributable to Albemarle Corporation $480 $23 +1,996% Adjusted EBITDA1 $858 $336 +155% Adjusted EBITDA Margin1 49% 25% +2,390 bps Diluted Earnings (Loss) per Share Attrib
Slide 6: Q2 Adjusted EBITDA Bridges Q2 2026 vs 2025
Q2 Adjusted EBITDA1 Bridges ($ in millions) Q2 2026 vs 2025 Y/Y – BY DRIVER Higher pricing in both segments; higher $561 $122 $15 $12 volumes in Specialties ($38) $858 ($152) Higher COGS Y/Y primarily reflects $2 higher spodumene pricing and increased $336 Chilean royalty payments, offset by higher
Slide 7: Maintaining Total Company 2026E Outlook Considerations
Maintaining Total Company 2026E Outlook Considerations1 OBSERVED LITHIUM MARKET PRICE SCENARIOS: (US$/kg LCE)2 FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-25 avg. $10 $10 $20 $30 Increasing Specialties outlook due to higher pricing and volume FY 2025A FY 2026E FY 2026E FY 2026E Maintaining total com
Slide 8: Specialties Overview
Specialties Overview QUARTERLY PERFORMANCE DRIVERS Q2 net sales up 20% Y/Y due to higher pricing and volume; adj. Q2 2026 Performance In Millions EBITDA up 61%, due to higher pricing, product mix and cost and Q2 2026 Y/Y productivity improvements Net Sales $424 +20% Q3 2026 net sales and EBITDA
Slide 9: Energy Storage Overview
Energy Storage Overview QUARTERLY PERFORMANCE DRIVERS Q2 2026 sales volumes of 65kt LCE, at $20/kg LCE average Q2 2026 Performance realized price In Millions Q2 2026 Y/Y Q2 net sales up 78% Y/Y due to higher pricing; adj. EBITDA up 229% due to higher net sales Net Sales $1,277 +78% Q3 2026 net
Slide 10: Ongoing Actions to Optimize Cash Conversion
Ongoing Actions to Optimize Cash Conversion First-half operating cash flow conversion at Operating Cash Flow Conversion1 the high end of our long-term target range Trending Towards Long-Term Target Range 85%* 69% FY 2026 operating cash flow considerations: Long-term target 60-70% Increased Talison
Slide 11: Continued Focus on Cost and Productivity Improvements Enables Long-term Competitiveness
Continued Focus on Cost and Productivity Improvements Enables Long-term Competitiveness On track to reach the high end of $100-150M Year-to-Date Cost and Productivity target cost and productivity improvements Improvements Supply Chain Incremental & Back Office Volume / Yield Achieved ~$100M run-ra
Slide 12: Globally Diverse Key End Markets Remain Resilient
Globally Diverse Key End Markets Remain Resilient TAILWINDS HEADWINDS China: EV sales recovering (+4% y/y in Q2) due to increased battery sizes and Electric Vehicles commercial vehicle demand US: EV sales down following the removal of ~35-40% 2025 Net Sales 30D tax incentives (Sep 2025) Europe: EV s
Slide 13: Increasing 2026 and 2030 Stationary Storage Forecast Ranges Due to Continued Strong Demand
Increasing 2026 and 2030 Stationary Storage Forecast Trending towards the higher end of 2026 lithium demand Ranges Due to Continued Strong Demand range (+45% Y/Y)2 through May due to YTD ESS demand strength Stationary Storage EV Lithium Demand Lithium demand diversifying Li-Ion Battery Productio
Slide 14: ESS Demand Continues Strong Growth Trajectory, Raising 2026 Forecast Range
ESS Demand Continues Strong Growth Trajectory, Raising 2026 Forecast Range Global ESS demand doubled Y/Y in H1, driven by higher electricity demand, Global Energy Storage Systems (ESS) Production1 grid reliability and energy security (GWh) 1,200 ESS demand driven by project 1,000 economics and polic
Slide 15: Positive Inflection in Global EV Sales; Q2 2026 up 16% vs. Q2 2025
Positive Inflection in Global EV Sales; Q2 2026 up 16% vs. Q2 2025 European EV sales remain strong, Global Electric Vehicle (EV) Sales1 (+31% Y/Y YTD), supported by (GWh) various member state policies and growing market for low cost EVs 1,200 1,000 14% Growing EV exports (+63% Y/Y YTD) 800 10% +10%
Slide 16: Australian JVs: Wodgina Outperformance Expected to Partially Offset CGP3 Delay
Australian JVs: Wodgina Outperformance Expected to Partially Offset CGP3 Delay Greenbushes | 49% Albemarle Wodgina | 50% Albemarle LATEST UPDATES LATEST UPDATES CGP3 restarted August 1, expected to ramp to full Operating well; increased utilization of three full trains production in Q1 2027 Value op
Slide 17: DLE Journey
50+ years DLE Journey of Experience 2014 - 2017 Scientific Foundation Extracting and Lab-scale research Processing Brine Progressive Pilot Validation 2014 - 2024 Atacama Brine Piloting Magnolia, AR 50+ years Silver Peak, NV 50+ years Integrated Pilot Validation 2025 - 2026 Atacama Integrated Pil
Slide 18: DLE Innovation Builds on Existing Infrastructure to Support Future Growth & Sustainability
DLE Innovation Builds on Existing Infrastructure to Support Future Growth & Sustainability Brine Solar La Negra Extraction Wells Evaporation Ponds Carbonate Plant Salar de Atacama, Chile Salar de Atacama, Chile Antofagasta, Chile DLE Process Plant ~6% Li Salar de Atacama Brine ~0.2% Li DLE Product:
Slide 19: Early DLE Pilot Plant Results Highlight Preliminary Success
Early DLE Pilot Plant Results Highlight Preliminary Success From Lab Capitalizing onto Integrated Our Brine Mining & ProcessHigher Lithium Chemistry Minimizing Expertise to Deliver Lithium withWater Less Impact Pilot Scale Recovery with DLE Footprint >10 years of research >90% recovery ~85% process
Slide 20: Strong Start to 2026 Continues
Strong Start to 2026 Continues Focus on Operational Excellence Enables Solid Earnings & Cash Flow STRONG OPERATIONAL EXECUTION, DEMONSTRATED BY Q2 2026 RESULTS: Net sales of $1.7B; higher volume and price in all segments; adj. EBITDA1 of $858M up 155% Y/Y; cash from ops. of $710M; free cash flow1 of
Slide 21: Q3 2026 Investor Relations Events
Q3 2026 Investor Relations Events Meredith Bandy, CFA Mizuho Industrials and August 12 VP, Investor Relations & Sustainability Chemicals Conference meredith.bandy@albemarle.com +1 980.999.5168 Jefferies Global September 9 Industrials Conference UBS Global Materials September 10 Conference Isaac Pric
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Slide 23: Appendix
APPENDIX \ Albemarle’ | 2
Slide 24: Energy Storage Quarterly Sales Metrics
Energy Storage Quarterly Sales Metrics Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Average Lithium Market Price1 ($/kg LCE) $11.74 $10.24 $9.85 $8.82 $9.42 $11.19 $20.24 $22.80 Energy Storage Net Sales ($M) $767 $617 $525 $718 $709 $759 $891 $1,277 Energy Storage Sales Volume2,3
Slide 25: Energy Storage 2026E Outlook Considerations and Market Price Scenarios
Energy Storage 2026E Outlook Considerations Average realized price below market price and Market Price Scenarios1 due to mix impact of spodumene sales OBSERVED LITHIUM FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-25 avg. MARKET PRICE $10 $10 $20 $30 FY 2026E ASSUMPTIONS: SCENARIOS: (US$/kg LCE)2 FY 2
Slide 26: Specialties, Ketjen, and Corporate FY 2026E Outlook Considerations
Specialties, Ketjen, and Corporate FY 2026E Outlook Considerations FY 2025A FY 2026E as of August 5, 2026 Segments Specialties Net Sales $1.4B $1.4B – $1.6B Specialties Adj. EBITDA $276M $275M – $325M Other Corporate Capital Expenditures $590M ~$500M Depreciation and Amortization $659M $660M – $680M
Slide 27: Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios
Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios 2026 Outlook Market Price Scenario values represent midpoint of ranges (in millions, except per share amounts) ~$10 (2025 avg.) ~$30 (2021-25 avg.) Adjusted EBITDA1 $950 $4,300 - Pre-Tax Equity Income $360 Assuming 30% AU
Slide 28: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Common Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non- Shareholders operating pension and OPEB. Adjusted Diluted EPS Attributable to Common
Slide 29: Adjusted Net Income
Adjusted Net Income Three Months Ended June 30, ($ in thousands) 2026 2025 Net income attributable to Albemarle Corporation $ 479,959 $ 22,897 Add back: Non-operating pension and OPEB items (net of tax) 626 169 Non-recurring and other unusual items (net of tax) 30,555 31,708 Adjusted net income attr
Slide 30: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Three Months Ended Six Months Ended Year Ended June 30, June 30, December 31, 2026 2025 2026 2025 2025 % of net % of net % of net % of net % of net ($ in thousands) $ sales $ sales $ sales $ sales $ sales Net income (loss) attributable to Albemarle Corporation $ 479,959 27
Slide 31: Adjusted EBITDA supplemental
Adjusted EBITDA supplemental1 Twelve Months ($ in thousands) Ended Three Months Ended Jun 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Adjusted EBITDA $ 2,016,285 $ 858,097 $ 663,814 $ 268,744 $ 225,630 Equity in net income of non- Windfield Holdings unconsolidated investments (net o
Slide 32: Diluted EPS
Diluted EPS Three Months Ended June 30, 2026 2025 Diluted income (loss) per share attributable to Albemarle Corporation common shareholders $ 3.52 $ (0.16) Add back: Non-operating pension and OPEB items (net of tax) — — Non-recurring and other unusual items (net of tax) Restructuring charges and ass
Slide 33: Effective Tax Rate
Effective Tax Rate Income (loss) before income taxes and equity in net income of unconsolidated Effective income tax ($ in thousands) investments Income tax expense rate Three months ended June 30, 2026 As reported $ 441,649 $ 94,002 21.3 % Non-recurring, other unusual and non-operating pension and
Slide 34: Equity Income and Noncontrolling Interest
Equity Income and Noncontrolling Interest Three Months Ended June 30, 2026 2025 Noncontrolling Noncontrolling ($ in thousands) Equity Income Interest Equity Income Interest Energy Storage $ 156,250 $ — $ 53,851 $ — Specialties — (19,252) — (12,296) Corporate and All Other (4,686) — 24,407 — Total Co
Slide 35: www.albemarle.com
NYSE www.albemarle.com \ Albemarle’ | 35