Perimeter Solutions, Sa · NYSE:PRM
Perimeter Solutions, Sa — Q4 2025 Earnings Presentation
23 slides from Perimeter Solutions, Sa's earnings presentation, Feb 26, 2026
Slide 1: Perimeter Solutions, Inc. Q4 2025 Earnings
Perimeter Solutions, Inc. Q4 2025 Earnings February 26, 2026
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation and discussion are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on Perimeter Solutions, Inc.’s (“we,” “us,” “our” or the “Company”) expectations, intentions and projections regar
Slide 3: Adjusted EBITDA History
Adjusted EBITDA History Adjusted EBITDA ($M) $350M $332 $300M $280 $250M $200M $136 $141 $150M $127 $114 $125 $85 $97 $100M $62 $50M $0M 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 US Acres ex-AK (M) 10M 9.1 10.1 8.2 8.2 6.9 5.0 4.4 4.0 5M 2.1 2.3 0M 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 4: Three Elements Achieves Purpose
Three Elements Achieves Purpose Our Exceptional Value Creation Purpose Decentralization Businesses Strategy Fulfill Mission Broad Industrials Focus Operational Value Drivers Operating Autonomy ▪ Mission Critical / Small Cost ▪ Profitable New Business Deliver private-equity ▪ Challenging Problems ▪ P
Slide 5: Operational Developments: Fire Safety
Operational Developments Fire Safety 5
Slide 6: Operational Developments: Specialty Products
Operational Developments Specialty Products 6
Slide 7: Medical Manufacturing Technologies, LLC
Medical Manufacturing Technologies, LLC • Perimeter Solutions acquired Medical Manufacturing Technologies, LLC (“MMT”) for $685 million in cash • MMT is a leading provider of precision machinery, and associated aftermarket consumables, parts, and services, used in the manufacturing of minimally inva
Slide 8: Q4 2025 Financial Summary
Q4 2025 Financial Summary ZZ Quaily Products. Except ($000) Q4'24 Q4'25 yy FY '24 FY '25 yy Consolidated Revenue 86,231 102,750 19% 560,968 652,862 16% Adjusted EBITDA 32,874 35,952 9% 280,294 331,690 18% Adjusted EBITDA Margin 38% 35% 50% 51% GAAP Eamings (Loss) Per Share (diluted) 0.90 (0.94) (0.0
Slide 9: Long-Term Assumptions
Long-Term Assumptions Item Forward-Looking Assumption Interest Expense ~$75M annually Tax-deductible D&A and other ~$60-65M annually Capital Expenditures ~$30-40M annually Annual Change In Working Capital ~10-15% of revenue growth (1) Cash Tax Rate 20% or lower 9 (1) Cash paid for taxes, over a mult
Slide 10: Capital Allocation Priorities
Capital Allocation Priorities Priority FY ‘25 Q4 ‘25 ▪ Support our customers’ mission Capex ▪ $26.5M (1) ▪ $7.0M ▪ Drives Profitable New Business and Productivity M&A ▪ Acquiror advantage from Value Drivers ▪ $82.0M (2) ▪ $40.0M (2) implementation Share Buybacks ▪ Repurchase shares when compelling ▪
Slide 11: Attractive Debt Profile, Ample Liquidity
Attractive Debt Profile, Ample Liquidity Maturity Schedule $800M $700M $675M $600M $550M (1) Debt 5% fixed rate 5% fixed rate $500M 6.25% fixed rate Senior Secured Notes $400M $300M $200M $100M $0M $0M $0M $0M $0M $0M $0M $0M 2026 2027 2028 2029 2030 2031 2032 2033 2034 • NO financial maintenance co
Slide 12: Appendix
We SNe Swe a? “Sy, ag Me a Solutions That Save.
Slide 13: Incentive Alignment
Incentive Alignment Stock Options • Approximately 14.2M stock options granted to management, employees, and directors are outstanding as of December 31, 2025 • Vest over five years based on intrinsic share price growth Founders Advisory Agreement (pertaining to the EverArc Founders) • Fixed Annual A
Slide 14: Non-GAAP Financial Metrics: Adjusted EBITDA & Margin
Non-GAAP Financial Metrics (Consolidated) Adjusted EBITDA & Adjusted EBITDA Margin The computation of Adjusted EBITDA is defined as income (loss) before income taxes plus net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recu
Slide 15: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) (1) For the three months ended December 31, 2024, $4.4 million was related to the Redomiciliation of the Company from Luxembourg to Delaware (the “Redomiciliation Transaction”) and other non-recurring Luxembourg related costs. For the three months ended Dece
Slide 16: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) 16
Slide 17: Adjusted Net Income and Adjusted Earnings Per Share
Non-GAAP Financial Metrics (Consolidated) Adjusted Net Income and Adjusted Earnings Per Share The computation of Adjusted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income (loss) divided by adjusted diluted shares. Adjusted Net Income is defined as net income (loss) plus amortiza
Slide 18: Adjusted Earnings Per Share - QTD
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share - QTD (1) For the three months ended December 31, 2025, $0.7 million was related to litigation costs arising from a contractual dispute regarding control of the P2S5 facility, which is currently operated by Flexsys Chemical Compan
Slide 19: Adjusted Earnings Per Share - YTD
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share - YTD (1) For the year ended December 31, 2025, $1.1 million was related to restructuring and other non-recurring costs, $0.7 million was related to litigation costs arising from a contractual dispute regarding control of the P2S5
Slide 20: Net Debt to LTM Adjusted EBITDA
Non-GAAP Financial Metrics (Consolidated) Net Debt to LTM Adjusted EBITDA Net Debt to LTM Adjusted EBITDA is defined as Net Debt divided by LTM Adjusted EBITDA. Net Debt is defined as total gross debt (Senior Notes) less cash and cash equivalents. Management believes Net Debt to LTM Adjusted EBITDA
Slide 21: Net Debt to LTM Adjusted EBITDA
Non-GAAP Financial Metrics (Consolidated) Net Debt to LTM Adjusted EBITDA 21
Slide 22: Pro-forma LTM Adjusted EBITDA and Net Debt Ratio
Non-GAAP Financial Metrics (Consolidated) Pro-forma LTM Adjusted EBITDA Pro-forma Net Debt to Pro-forma LTM Adjusted EBITDA (1) For the year ended December 31, 2025, $1.1 million was related to restructuring and other non-recurring costs, $0.7 million was related to litigation costs arising from a c
Slide 23: Thank You!
Thank You! NOTICE: Although the information and recommendations set forth herein (hereinafter “Information”) are presented in good faith and believed to be correct as of the date hereof, Perimeter Solutions/Solberg/Auxquimia (the “Company”) makes no representations or warranties as to the completene