Slide 1: 4Q24 Earnings Summary
4Q24 Earnings Summary February 17, 2025 1
Slide 2: Earnings Summary Conference Call
4th Quarter 2024 Earnings Summary Conference Call Tuesday, February 18, 2025 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=Hmr0Y2Vu Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201) 378-4913 2
Slide 3: General Disclosure: Forward-Looking Statements
General Disclosure Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward- looking statements include statements concerning our plans, obj
Slide 4: Highlights
4Q24 Earnings Summary Highlights ($ in millions, except per share amounts) 4Q24 4Q23 2024 2023 Revenues $ 1,452 $ 1,403 $6,036 $ 6,111 Net (loss) income attributable to Huntsman Corporation $ (141) $ (71) $ (189) $ 101 Adjusted net (loss) income $ (43) $ (36) $ (13) $ 67 Diluted (loss) income per sh
Slide 5: Polyurethanes
4Q24 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 2024 Adjusted EBITDA Margin $3.9B Sales Revenue $970 $50 $895 $245M Adj. EBITDA 5% $13 6% Adj. EBITDA Margin 1% 4Q24 4Q23 4Q24 4Q23 Highlights 1Q25 Outlook 4Q24 Y/Y Change Volumes increased 9% year-over-year First quarter 2025 adjusted
Slide 6: Performance Products
4Q24 Earnings Summary Performance Products Revenues Adjusted EBITDA 2024 $400 Adjusted EBITDA Margin $1.1B Sales Revenue $350 $260 $28 $239 $153M $300 $250 $23 Adj. EBITDA $200 11% 14% $150 $100 Adj. EBITDA Margin $50 10% $0 4Q24 4Q23 4Q24 4Q23 Highlights 1Q25 Outlook 4Q24 Y/Y Change Volumes decre
Slide 7: Advanced Materials
4Q24 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 2024 $400 $37 $38 Adjusted EBITDA Margin $1.1B Sales Revenue $350 $254 $251 $179M $300 $250 Adj. EBITDA 15% 15% $200 17% $150 $100 Adj. EBITDA Margin $50 $0 4Q24 4Q23 4Q24 4Q23 Highlights 1Q25 Outlook 4Q24 Y/Y Change Volumes increas
Slide 8: Revenue Bridge
4Q24 Earnings Summary Revenue Bridge Year / Year Quarter / Quarter $64 $6 $1 ($67) ($21) ($22) $1,540 $1,452 $1,452 $1,403 (1) (2) (2) (1) (2) (2) 4Q23 Revenue Volume Price & Mix FX 4Q24 Revenue 3Q24 Revenue Volume Price & Mix FX 4Q24 Revenue (1) Excludes sales volumes of byproducts and raw material
Slide 9: Adjusted EBITDA Bridge – By Division
4Q24 Earnings Summary Adjusted EBITDA Bridge – By Division Year / Year Quarter / Quarter $37 ($5) ($1) ($4) ($26) ($19) $131 ($10) ($5) $71 $44 $71 4Q23 Adjusted Polyurethanes Performance Advanced Corporate and 4Q24 Adjusted 3Q24 Adjusted Polyurethanes Performance Advanced Corporate and 4Q24 Adjuste
Slide 10: Cash Flow and Liquidity Considerations
4Q24 Earnings Summary Cash Flow and Liquidity Considerations 4Q24 Commentary Earnings and Cash Flow 4Q23 4Q24 2023 2024 Adjusted EBITDA $44 $71 $472 $414 Investment grade balance sheet with $1.7 billion of liquidity at the close Cash Flow From Operations $166 $159 $251 $285 of the quarter Capital
Slide 11: 2025 Action Priorities and Key Initiatives
4Q24 Earnings Summary 2025 Action Priorities and Key Initiatives 1 2 3 4 Growth Europe Rightsize Cash Management Cost Management Complete and Deliver on Supply Chain Financing Performance Products Continued Restructuring Polyurethanes Restructuring Program Capital Investments Deliver Further on US M
Slide 12: 1Q25 Outlook Summary
4Q24 Earnings Summary 1Q25 Outlook Summary 1Q25 Adjusted EBITDA Polyurethanes $45M – $60M Performance Products $25M – $35M Advanced Materials $40M – $45M Corporate ~($40M) Total ~$70M – $100M Underlying 1Q25 Guidance Assumptions Stable but low level of global construction and industrial activity,
Slide 13: 2025 Additional Modeling Considerations
4Q24 Earnings Summary 2025 Additional Modeling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$165M Dividends from Equity Affiliates ~$75M Headwind YoY Cost Savings Program Benefit ~$60M(1) Pension Contributions Similar to 2024 Interest Expense ~$10M Headwind
Slide 14: Financials and Reconciliation
4Q24 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 Segment Revenues: Polyurethanes $ 1,386 $ 1,353 $ 1,257 $ 1,071 $ 5,067 $ 991 $ 1,012 $ 967 $ 895 $ 3,865 $ 926 $ 1,001 $ 1,003 $ 970 $ 3,900 Performance Pro
Slide 15: Financials and Reconciliation
4Q24 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 Net income (loss) $ 240 $ 242 $ 115 $ (74) $ 523 $ 166 $ 31 $ 15 $ (59) $ 153 $ (23) $ 38 $ (17) $ (125) $ (127) Net income attributable to noncontrolling in