Amg Critical Materials N.v. · EURONEXT:AMG
Amg Critical Materials — Q2 2026 Earnings Presentation
27 slides from Amg Critical Materials's earnings presentation, Jul 30, 2026
Slide 1: The Technology of Energy Saving – Investor Presentation Q2 2026
THE TECHNOLOGY OF ENERGY SAVING Investor Presentation | Second Quarter 2026 AMG CRITICAL MATERIALS N.V. Lithium Hydroxide battery-grade refinery – Bitterfeld, Germany 1
Slide 2: Table of Contents
TABLE OF CONTENTS Strategic Update 3 Financial Performance 4 Operational Highlights 13 Appendix 16 Appendix: Lithium Market Update 21 AMG Engineering – Hanau, Germany 2
Slide 3: Growth Strategy Snapshot
GROWTH STRATEGY SNAPSHOT Proactive Portfolio Management: • The transaction initially announced on October 10, 2025 to sell Graphit Kropfmühl GmbH to Asbury Advanced Materials has been successfully completed as of July 28, 2026 in accordance with the announced terms. AMG received total proceeds of $6
Slide 4: Quarterly Financial Highlights
QUARTERLY FINANCIAL HIGHLIGHTS REVENUE (IN MILLIONS OF US DOLLARS) ADJUSTED EBITDA (IN MILLIONS OF US DOLLARS) $91.7 $522.7 $439.0 $434.7 $446.6 $446.1 $70.8 $63.6 $44.2 19% $42.9 30% YoY YoY Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 NET INCOME (LOSS) ATTRIBUTABLE TO KEY
Slide 5: Quarterly Revenue Drivers
QUARTERLY REVENUE DRIVERS LITHIUM SEGMENT RESULTS KEY DRIVERS Q2 2026 Q2 2025 Price Volume Revenue $114.3 $37.0 Lithium Gross Profit $37.6 ($1.7) Tantalum VANADIUM SEGMENT RESULTS KEY DRIVERS Price Volume Q2 2026 Q2 2025 Vanadium Revenue $218.3 $161.0 Titanium Alloys Gross Profit $39.6 $21.9 Chrome
Slide 6: Financial Performance, Leverage & Valuation Dashboard
FINANCIAL PERFORMANCE, LEVERAGE & VALUATION DASHBOARD • In July 2026, AMG refinanced its 5-year METRIC Q2 2026 FY 2025 $200 million revolving credit facility and issued Return on Assets 0.4% -0.6% a new 7-year $500 million Term Loan B to Return on Capital Employed 14.1% 13.2% refinance the existing
Slide 7: AMG Lithium Financial Highlights
AMG LITHIUM FINANCIAL HIGHLIGHTS REVENUE & ADJUSTED EBITDA (IN MILLIONS OF US DOLLARS) ADJUSTED GROSS PROFIT (IN MILLIONS OF US DOLLARS) $114.3 26.2% $31.4 $61.4 $60.6 Revenue Adjusted more than gross profit 11.8% $30.0 increased $26 $37.0 $32.7 tripled vs. 10.2% 8.8% million vs. Q2 ‘25 $2.8 $2.9 $4
Slide 8: AMG Vanadium Financial Highlights
AMG VANADIUM FINANCIAL HIGHLIGHTS REVENUE & ADJUSTED EBITDA (IN MILLIONS OF US DOLLARS) ADJUSTED GROSS PROFIT (IN MILLIONS OF US DOLLARS) $218.3 $40.2 $181.1 $161.0 $154.0 $156.5 $32.8 Adjusted $25.5 $25.5 $22.4 Adjusted EBITDA $20.9 more than gross profit $19.5 16.6% $15.4 18.4% increased $15.4 dou
Slide 9: AMG Technologies Financial Highlights
AMG TECHNOLOGIES FINANCIAL HIGHLIGHTS REVENUE & ADJUSTED EBITDA (IN MILLIONS OF US DOLLARS) ADJUSTED GROSS PROFIT (IN MILLIONS OF US DOLLARS) $241.0 $248.0 $71.1 $228.6 $204.5 $58.6 $190.1 $50.5 $52.5 $46.0 Revenue $37.8 Q2 ’26 $41.2 was 21% sustained $30.7 $27.4 lower than 29.5% 23.6% 22.1% 24.2% s
Slide 10: Key Corporate Income Statement Items
KEY CORPORATE INCOME STATEMENT ITEMS SG&A EXPENSES (IN MILLIONS OF US DOLLARS) NET FINANCE COST (IN MILLIONS OF US DOLLARS) $57.8 $58.8 $57.6 $55.8 $15.4 $51.2 $14.4 $14.8 $12.0 $13.3 $12.7 $13.2 $13.5 $13.6 $8.7 SG&A Net $20.4 $17.8 $19.3 expenses $17.4 $17.1 finance were in cost was in line with l
Slide 11: Cash Flow and Working Capital
CASH FLOW AND WORKING CAPITAL CASH (USED IN) FROM OPERATING ACTIVITIES NET DEBT (IN MILLIONS OF US DOLLARS) (IN MILLIONS OF US DOLLARS) $80.7 $580.8 $543.7 $54.6 $502.3 $509.1 $440.2 $62M $61M YoY YoY ($6.3) ($6.9) ($31.3) Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 ANNUALI
Slide 12: Outlook
OUTLOOK • AMG projects capital expenditures to be approximately $70 to CAPITAL $90 million for full year 2026, primarily driven by the targeted EXPENDITURES growth investments in the Vanadium and Lithium segments. • Prices for many of our materials strengthened in H1 2026 and the backlog in our Engi
Slide 13: Operational Highlights
OPERATIONAL HIGHLIGHTS Thermal Barrier Coating for aerospace turbine blades. ALD Vacuum Technologies GmbH (Hanau, Germany) 13
Slide 14: Operational Highlights
OPERATIONAL HIGHLIGHTS AMG is effectively progressing in its strategic expansions and joint ventures, maintaining strong momentum across its lithium and vanadium operations while advancing key projects aimed at enhancing global resource recovery and market reach. LITHIUM EXPANSION NEW CHROME METAL S
Slide 15: Health and Safety Focus
HEALTH AND SAFETY FOCUS Safety Indicators AMG compares itself to the industry average for Primary Metal Manufacturing (NAICS 331). The most recent data provided in 2024 by the United States Bureau of Labor Statistics reports that the Primary Metal Manufacturing industry’s total recordable case rate
Slide 16: Appendix
APPENDIX AMG Vanadium – Zanesville, Ohio, USA 16
Slide 17: AMG Provides Critical Materials and Related Process Technologies
AMG PROVIDES CRITICAL MATERIALS AND RELATED PROCESS TECHNOLOGIES TO ADVANCE A LESS CARBON-INTENSIVE WORLD A GLOBAL IMPERATIVE AMG’S ENABLED CO2 EMISSION REDUCTIONS FOR THE 21ST CENTURY (Million MT) AMG: 2025 128.2 ENABLING TECHNOLOGIES 2024 113.6 Products and processes saving 2023 110.3 CO2 emission
Slide 18: Critical Materials — Average Quarterly Market Prices
CRITICAL MATERIALS — AVERAGE QUARTERLY MARKET PRICES Q2 Q2 JULY 21, 2026 Q2 ‘26 VS. Q2 SPOT VS. Q2 MATERIALS 2026 2025 SPOT ‘25 % CHANGE ‘26 % CHANGE Ferrovanadium ($/lb) $21.65 $14.86 $17.00 46% (21%) CRU Molybdenum ($/lb) $29.34 $20.72 $32.18 42% 10% S&P Global Platts Nickel ($/MT) $18,126 $15,165
Slide 19: Critical Materials — Full Year and Current Spot Prices
CRITICAL MATERIALS — FULL YEAR AND CURRENT SPOT PRICES AVG AVG JULY 21, 2026 AVG ‘25 VS. AVG SPOT VS. AVG MATERIALS 2025 2024 SPOT ‘24 % CHANGE ‘25 % CHANGE Ferrovanadium ($/lb) $14.15 $13.13 $17.00 8% 20% CRU Molybdenum ($/lb) $22.14 $21.30 $32.18 4% 45% S&P Global Platts Nickel ($/MT) $15,155 $16,
Slide 20: Profit for the Period to Adjusted EBITDA Reconciliation
PROFIT FOR THE PERIOD TO ADJUSTED EBITDA RECONCILIATION (000’s USD) Q2 2026 Q2 2025 Profit for the period $30,126 $12,455 Income tax expense 18,965 6,866 Net finance cost 13,519 13,201 Equity-settled share-based payment transactions 2,052 2,692 Restructuring (benefit) expense (1,019) 482 Brazil's SP
Slide 21: Appendix: Lithium Market Update
APPENDIX: LITHIUM MARKET UPDATE Lithium Hydroxide battery-grade refinery - Bitterfeld, Germany 21
Slide 22: Global Q2 2026 EV Sales at +6% YoY
GLOBAL Q2 2026 EV SALES AT +6% YOY: AVERAGE PACK SIZE INCREASED BY +10% Quarterly electric car sales by region in GWh, 2021-2026 350 300 * 250 200 150 100 50 0 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 2021 2022 2023 2024 2025 2026
Slide 23: EV Market Development 2021-2026: China
EV MARKET DEVELOPMENT 2021-2026: CHINA New Electric Vehicle NEV / BEV / PHEV market New Electric Vehicle Sales in China (incl. Exports) 10,000 penetration (incl. Exports) NEV 60% 200 180 50% 160 40% 140 120 30% 100 20% 80 60 10% 40 0% 20 Oct Oct Oct Oct Oct Apr Apr Apr Apr Apr Apr Jan Jul Jan Jul Ja
Slide 24: Battery Market Development 2022-2026: China
BATTERY MARKET DEVELOPMENT 2022-2026: CHINA Battery Production China per Quarter (GWh) Battery Sold + Exported China per Quarter (GWh) 700 600 57% 600 41% 500 500 400 400 300 300 200 200 100 100 - 0 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Source: CAA
Slide 25: BESS with Another Strong Year
BESS WITH ANOTHER STRONG YEAR – 2026 INSTALLATIONS EXPECTED TO GROW AGAIN 30-45% BESS cell shipments and installations in GWh 600 +76% 500 400 +53% +44% 300 200 +55% 100 0 2023 2024 2025 cell shipments installations 20% 2020 10% 2022 2025 7% Source: Benchmark Minerals / RhoMotion 25
Slide 26: Cautionary Note
CAUTIONARY NOTE This document contains proprietary information and is being provided solely for information purposes by AMG Critical Materials N.V. (The “Company”) and may not be reproduced in any form or further distributed to any other person or published, in whole or in part, for any purpose, exc
Slide 27: Everything that can be recycled will be recycled
LITHIUM HYDROXIDE – BITTERFELD, GERMANY LIVA BATTERY LITHIUM LAB MINAS GERAIS – BRAZIL LITHIUM TAILINGS This announcement appears as a matter of record. ENGINEERING – HANAU, GERMANY AMG’s LAW: “Everything that can be recycled will be recycled.” MELTSHOP – ZANESVILLE, OHIO AMG Critical Materials N.V.
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