Rayonier Advanced Materials Inc. · NYSE:RYAM
Rayonier Advanced Materials — Third Quarter Equity Conferences 2025
15 slides from Rayonier Advanced Materials's conference presentation, Aug 27, 2025
Slide 1: Investor Presentation: Third Quarter Equity Conferences
Investor Presentation Third Quarter Equity Conferences August 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 Is Everywhere
RYAM Is Everywhere Food Personal Fluff Hygiene Ethers Pharmaceuticals Industrial Viscose/Lyocell Textiles Filter Lignin Acetate Plastic Biomaterials Bioethanol LCD/Film Bioenergy Tire Cord Packaging Casings Lottery Paperboard Filtration Commercial Other CS Nitrocellulose Print Microcrystalline Cellu
Slide 6: 2025 Challenges
2025 Challenges CLEAR PATH TO STRONG EBITDA AND CASH FLOW GROWTH IN 2026 AND BEYOND ($ Millions) 15 $215-235 14 12 $200 18 7 8 $150-160 2025 EBITDA Tariff FX Extraordinary Environmental 2025 Normalized Tariff PBD/HYP 2025 Original Guidance Impacts Operational (Non-cash) EBITDA (Indirect Weakness EBI
Slide 7: Plan To Strongly Grow Core EBITDA Over Next 2 Years
Plan To Strongly Grow Core EBITDA Over Next 2 Years ($ Millions) 30 $338 39 $308 89 30 30 $200 (80) 2025 Normalized CS Price Cost Cost Commodity Exposure Biomaterials 2027 Run-Rate AGE Project 2028 Run-Rate Core Business Increases Inflation Reduction Reduction Growth EBITDA (Core Business) EBITDA (C
Slide 8: Compelling Industry Dynamics & Competitive Advantage
Compelling Industry Dynamics & Competitive Advantage RYAM is the leading global producer of Cellulose Specialties ⎔ Highly specialized, non-commodity products ⎔ Long customer qualification periods with high and risky switching costs ⎔ RYAM known for achieving industry leading purity and product func
Slide 9: Structural Cost Reductions
Structural Cost Reductions ⎔ Cost Reductions – Areas of Focus ($ Millions) – Automation Increased labor productivity by leveraging technology throughout manufacturing & business processes RYAM 2026 Cost Reduction Targets EBITDA – Efficiency Lower material usage and improve yield; capture waste h
Slide 10: Capture Cellulose Specialties Market Growth
Capture Cellulose Specialties Market Growth RYAM owns most of the Cellulose Specialties excess capacity Analysts forecast Cellulose Specialties market growth of 45,000 MT in 2026 and 35,000 MT in 2027 RYAM is conservatively forecasting approximately $30 million of cumulative incremental EBITDA by 20
Slide 11: High Return Growth Opportunities in Biomaterials
High Return Growth Opportunities in Biomaterials Anatomy of a tree: ⎔ 50% of a tree is dry solids, made up of ~40% cellulose and ~60% other chemical compounds ⎔ RYAM’s biomaterials strategy focuses on monetizing the “other 60%”: – Biofuels/Bioelectricity – Lignosulfonates – SAF – Crude Tall Oil (CTO
Slide 12: High Return Growth Opportunities in Biomaterials
High Return Growth Opportunities in Biomaterials FUTURE BIOMATERIALS PROJECTS EXPECTED TO HAVE SIMILARLY ATTRACTIVE ECONOMICS RYAM, through its BioNova Joint Venture with SWEN Capital, is advancing four projects to Final Investment Decision in 2025-2026 (Portfolio 1) ⎔ Fernandina: Bioethanol ⎔ Jesup
Slide 13: Ability to Recycle Capital at Attractive ROI
Ability to Recycle Capital at Attractive ROI ⎔ RYAM opportunity to generate strong ROI is driven by its ability to leverage its extensive and unique asset base – Illustratively, RYAM’s Jesup plant alone has an estimated replacement cost of over $4 billion ⎔ Biomaterials initiatives are commercially
Slide 14: Solid Balance Sheet and Liquidity
Solid Balance Sheet and Liquidity Total Liquidity ⎔ RYAM maintains a balance sheet sufficient to fund key ($ Millions) growth initiatives without shareholder dilution Cash – $202 million of global liquidity including $71 million of cash $71 – Net secured leverage ratio of 3.8x covenant EBITDA, well
Slide 15: RYAM's Compelling Investment Thesis
RYAM’s Compelling Investment Thesis WE BELIEVE RYAM’S CURRENT STOCK PRICE DOES NOT FULLY REFLECT THE INTRINSIC VALUE OF ITS ASSETS OR THE EARNINGS POTENTIAL FROM ITS GROWTH STRATEGY The short term, isolated issues that impacted RYAM are largely behind us: ⎔ Tariffs (direct impacts) ⎔ Extraordinary,
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