Slide 1: Third Quarter 2024 Earnings Presentation
Third Quarter 2024 Earnings Presentation October 25, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements: This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by management, fore
Slide 3: 3Q24 Highlights
3Q24 Highlights • Hurricane Beryl: approximately $110 million 3Q24 impact • Chlor Alkali market fundamentals were as expected – Caustic soda prices around the world improved – Olin chlorine price declined slightly due to customer mix • Epoxy slowly recovering – Resin prices continue to improve – Dem
Slide 4: Chlor Alkali Products & Vinyls Performance
Chlor Alkali Products & Vinyls Performance Sales Adjusted EBITDA (in millions) (in millions) $920.3 $205.1 $871.6 Sequential: 3Q24 vs 2Q24 $151.8 – Sequential earnings improvement, excluding $76 million Hurricane Beryl impact – Lower operating costs – Benefit from tightening caustic export market 2Q
Slide 5: Epoxy Segment Performance
Epoxy Segment Performance Sales Adjusted EBITDA (in millions) (in millions) $317.7 $10.4 $285.1 Sequential: 3Q24 vs 2Q24 – 3Q24 had $33 million adjusted 2Q 2024 3Q 2024 EBITDA impact from Hurricane Beryl – Lower resin and Formulated Solutions demand -$29.1 – Epoxy resin margin improved 2Q 2024 3Q 20
Slide 6: Winchester Segment Performance
Winchester Segment Performance Sales Adjusted EBITDA (in millions) (in millions) $432.8 $78.6 $406.0 $61.9 Sequential: 3Q24 vs 2Q24 – Military sales grew 35% – Retailers destocking – Continued strength in White Flyer 2Q 2024 3Q 2024 2Q 2024 3Q 2024 +7% -21% Initiatives & Outlook – 4Q24 commercial vo
Slide 7: 4Q24 Outlook
4Q24 Outlook • Chlor Alkali seasonally lower – Global caustic soda supply/demand dynamics continue to improve – 4Q Hurricane Beryl impact expected to be approximately $25 million • Stabilizing operations at Freeport • Infrastructure repair costs • Epoxy demand expected to soften seasonally – Resin a
Slide 8: Investor Day: Save the Date
SAVE THE DATE INVESTOR DAY Thursday, December 12, 2024 New York Stock Exchange Join Ken Lane, President and CEO; Todd Slater, CFO; and other members of the leadership team to learn more about Olin, its core businesses and strategy 8
Slide 9: Appendix
Appendix
Slide 10: Delivering on Our Value Strategy (Chlorine)
Delivering on Our Value Strategy 3Q24 ECI Profit Contribution Index (ECU PCI) Parlay Volume Tracker 100 = Q1 2020 We purchase liquidity from the global market Quarterly Sales Volume1 25.0% % Parlay Tons / Total 294 287 22.4% 238 257 17.7% 222 261 255 262 16.1% 19.9% Index 211 19.0% 207 17.5% 191 12.
Slide 11: Outlook: Full Year 2024 Modeling Assumptions
Outlook: Full Year 2024 Modeling Assumptions ($ in millions) Line Item Forecast Key Elements Expected to be below 2023 levels, including Capital Spending ~$200 the $10 million required for Hurricane Beryl Depreciation & Amortization ~$525 Expected to be lower than 2023 levels Payments Under Long-ter
Slide 12: Non-GAAP Financial Measures – Adjusted EBITDA
Non-GAAP Financial Measures – Adjusted EBITDA (a) Olin's definition of Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is net income (loss) plus an add-back for depreciation and amortization, interest expense (income), income tax provision (benefit), other expense (
Slide 13: Non-GAAP Quarterly Financial Measures by Segment
Non-GAAP Quarterly Financial Measures by Segment (a) Three Months Ended Three Months Ended Three Months Ended September 30, 2024 June 30, 2024 September 30, 2023 Income (Loss) Reconciling Depr and Adjusted Income (Loss) Reconciling Depr and Adjusted Income (Loss) Reconciling Depr and Adjusted (In mi
Slide 14: Non-GAAP YTD Financial Measures by Segment
Non-GAAP YTD Financial Measures by Segment (a) Nine Months Ended Nine Months Ended September 30, 2024 September 30, 2023 Income (Loss) Reconciling Depr and Adjusted Income (Loss) Reconciling Depr and Adjusted (In millions) before Taxes Items Amort EBITDA before Taxes Items Amort EBITDA Chlor Alkali