Ecosynthetix Inc. · TSX:ECO
Ecosynthetix — Q1 2026 Earnings Presentation
18 slides from Ecosynthetix's earnings presentation, May 6, 2026
Slide 1: EcoSynthetix Q1 2026 Earnings Results
ECOSYNTHETIX INC Jeff MacDonald| CEO Rob Haire | CFO Q1 2026 Earnings Results May 6, 2026
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements contained in this presentation Certain statements contained in this MD&A constitute forward- a significant decrease in the market price of petroleum related feedstocks; inflationary pressures that may affect labor, raw looking statements. All statements
Slide 3: Short-term step back in H1 2026 compared to 2025 momentum
SHORT-TERM STEP BACK IN H1 2026 COMPARED TO THE MOMENTUM ESTABLISHED IN 2025 (USD millions) Net Sales Adj EBITDA (loss) Cash provided by operating activities $0.9 $4.0 $3.8 Q1 2025 Q1 2026 (7)% 32% 6X+ $(0.3) $0.1 $(0.5) Q1 2025 Q1 2026 Q1 2025 Q1 2026 MANAGEMENT EXPECTS RETURN TO GROWTH IN SECOND H
Slide 4: Strong commercial product line, blue chip customers and partners
STRONG BLUE CHIP COMMERCIAL CUSTOMERS PRODUCT LINE & PARTNERS COMMERCIALLY VIABLE GLOBAL PERSONAL LEADING SurfLock strength aids FULLY SCALED GLOBAL PULP MANUFACTURER INTERNATIONAL RETAILER, CARE FORMULATOR GLOBAL TISSUE / PAPERBOARD MANUFACTURER MANUFACTURERS DuraBind VERSATILE COST STABLE EcoSpher
Slide 5: Total addressable markets: one platform, three products
Coated paper & paperboard TOTAL ADDRESSABLE MARKETS market Urea formaldehyde today’s potential: $15B wood resin market ONE PLATFORM – THREE PRODUCTS SB/SA Latex & Strength Aids $1B+ paper, tissue, packaging and pulp markets Polyvinylpyrrolidone $460M hair fixative binder market ECOSYNTHETIX INC. 5
Slide 6: 70%+ of sales comprised of pulp, tissue, specialty & wood composites
70%+ OF SALES COMPRISED OF PULP, TISSUE, SPECIALTY & WOOD COMPOSITES STRATEGIC MARKETS SALES SALES EVOLUTION TOWARD STRATEGIC MARKETS (Percentage of Graphic Paper Sales vs. Strategic Markets Sales) IN 2023 PERMANENTLY Sales of Graphic Paper as a % of Total Sales Sales of Strategic Markets as a % of
Slide 7: Key feedstocks for urea formaldehyde under inflationary pricing pressure
KEY FEEDSTOCKS FOR UREA FORMALDEHYDE UNDER INFLATIONARY PRICING PRESSURE AS OIL PRICES RISE € 1,000 €850/MT Methanol € 900 – Apr 2026 € 800 59%↑ since Mar € 700 €809/MT Urea Formaldehyde € 600 – Apr 2026 18%↑ since Mar € 500 € 400 € 300 € 200 € 100 €0 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19
Slide 8: Strong demand from leading global pulp manufacturer
STRONG DEMAND FROM LEADING GLOBAL PULP MANUFACTURER Top 10 global pulp manufacturer commercial for just over a year with SurfLock SurfLock improves strength and delivers cost reductions Already a top 5 account for us through use of lower cost fibres Maintenance downtime on primary line SurfLock addr
Slide 9: Top global pulp companies
TOP 10 GLOBAL PULP COMPANIES (Market pulp capacity (tonnes millions)) 0 3 6 9 12 15 Turning pulp from a commodity into an Suzano innovation - delivering greater value to UPM customers through cost reductions Arauco APRIL + Symbol + Bracell Fibre-to-fibre innovation enabling improved CMPC substitutio
Slide 10: Building momentum in pulp-based end markets with strength aids
BUILDING MOMENTUM IN PULP-BASED END MARKETS Distribution partners generating WITH OUR STRENGTH AIDS significant trial activity Distribution partners investing in the introduction of SurfLock strength aids in their regional markets Healthy and robust trial pipeline includes: − Late-stage, long-durati
Slide 11: Wood composites progress: DuraBind
WOOD COMPOSITES PROGRESS: DuraBind the clear incumbent in the bio-based glue market Demand from first mill expected to be lower in Q2 2026 and into Q3, unrelated to performance of DuraBind Second line expanding usage modestly from small base New activity at third line with trials expected later this
Slide 12: International retailer's primary climate focus: halve GHG emissions by 2030
INTERNATIONAL RETAILER’S PRIMARY CLIMATE FOCUS: HALVE GHG EMISSIONS ACROSS VALUE CHAIN BY 2030 1 Source: https://www.ikea.com/global/en/our-business/sustainability/our-circular-agenda/ 12 1) From a base year of 2016
Slide 13: All-natural polymers in personal care
ALL-NATURAL POLYMERS IN PERSONAL CARE Clear commitment and belief from Dow in all-natural ingredients opportunity long-term Drew down on inventory in Q1 after building position in Q4 2025 Dow continues to grow and expand MaizeCare program ECOSYNTHETIX INC. 13
Slide 14: Q1 2026 Financial Summary
Q1 2026 FINANCIAL SUMMARY USD millions (except gross margin) Q1 2026 Q1 2025 Net Sales $3.8 $4.0 Gross Profit $0.9 $0.9 Gross Margin 24.6% 21.5% Gross Margin adjusted for manufacturing depreciation 30.6% 27.2% Adjusted EBITDA1 (loss) ($0.3) ($0.5) US$29.8 MILLION IN CASH AND SHORT-TERM INVESTMENTS (
Slide 15: Operating cost structure
OPERATING COST STRUCTURE Selling, General & Administrative Research & Development (USD, millions) (USD, millions) $2.0 $0.7 $1.8 $0.6 $1.6 $1.4 $0.5 $1.2 $0.4 $1.0 $0.3 $0.8 $0.6 $0.2 $0.4 $0.1 $0.2 $0.0 $- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2
Slide 16: Adj EBITDA impacted by lower demand
ADJ EBITDA IMPACTED BY LOWER DEMAND Quarterly Adj EBITDA Annual Cash Flows from (used in) Operations (USD millions) (USD millions) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 $0.6 YTD 2015 2016 2018 2019 2020 2021 2022 2023 2024 2025 2026 $2.
Slide 17: Long-term, durable relationships with blue-chip accounts
Long-term, durable relationships with blue-chip accounts Our biopolymers delivering value for customers Customers’ and partner’s commitment as strong as ever ECOSYNTHETIX INC. 17
Slide 18: Questions & Answers
SSYNTHETIX® QUESTIONS & ANSWERS