Slide 1: 3Q23 Earnings Summary
3Q23 Earnings Summary October 31, 2023 1
Slide 2: Earnings Summary Conference Call
3rd Quarter 2023 Earnings Summary Conference Call Wednesday, November 1, 2023 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=3CsNb818 Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201) 378-4913 2
Slide 3: General Disclosure
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
3Q23 Earnings Summary Highlights ($ in millions, except per share amounts) 3Q23 3Q22 Revenues $ 1,506 $ 2,011 Net income attributable to Huntsman Corporation $ - $ 100 Adjusted net income $ 27 $ 141 Diluted income per share $ - $ 0.50 Adjusted diluted income per share $ 0.15 $ 0.71 Adjusted EBITDA $
Slide 5: Polyurethanes
3Q23 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 3Q23 LTM Adjusted EBITDA Margin $4.0B Sales Revenue $1,257 $967 $272M Adj. EBITDA $138 $81 11% 7% Adj. EBITDA Margin 8% 3Q23 3Q22 3Q23 3Q22 Highlights 4Q23 Outlook 3Q23 Y/Y Change Volumes decreased 4% year over year, due to Fourth quar
Slide 6: Performance Products
3Q23 Earnings Summary Performance Products Revenues Adjusted EBITDA 3Q23 LTM $434 $110 Adjusted EBITDA Margin $1.2B Sales Revenue $277 $234M Adj. EBITDA $47 25% 19% Adj. EBITDA Margin 17% 3Q23 3Q22 3Q23 3Q22 Highlights 4Q23 Outlook 3Q23 Y/Y Change Volumes decreased 26% YoY due to weak Fourth qua
Slide 7: Advanced Materials
3Q23 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 3Q23 LTM Adjusted EBITDA Margin $1.1B Sales Revenue $58 $400 $350 $328 $49 $268 $189M $300 $250 Adj. EBITDA $200 18% 18% 17% $150 $100 Adj. EBITDA Margin $50 $0 3Q23 3Q22 3Q23 3Q22 Highlights 4Q23 Outlook 3Q23 Y/Y Change Volumes dec
Slide 8: Adjusted EBITDA Bridge
3Q23 Earnings Summary Adjusted EBITDA Bridge Year / Year – By Account Quarter / Quarter – By Account $3 $2 ($8) $3 ($17) ($102) $271 ($15) ($21) $156 $136 $136 3Q22 Adjusted Volume / Mix Gross Profit SG&A / R&D FX & Other (1) 3Q23 Adjusted 2Q23 Adjusted Volume / Mix Gross Profit SG&A / R&D FX & Othe
Slide 9: Cost Realignment & Synergy Plans on Track
3Q23 Earnings Summary Cost Realignment & Synergy Plans on Track Delivery of ~$280M Run Rate Benefits Targeted by End of 2023 Annualized Run Rate Expected $300 ~$280M Commentary Announced Initiatives Benefits Completion $280 M&A Synergies & 2020 ~$140M Q1 2023 $260 $240 ~$275M 3Q23 Annualized Run Rat
Slide 10: Cash Flow and Liquidity Considerations
3Q23 Earnings Summary Cash Flow and Liquidity Considerations 3Q23 Commentary Earnings and Cash Flow 3Q22 3Q23 2022 LTM Adjusted EBITDA $271 $136 $1,155 $515 Repurchased ~3.8 million shares for ~$101 million Cash Flow From Operations(1) $285 $167 $892 $382 YTD $300 million shares repurchased, exp
Slide 11: 4Q23 Outlook Summary
3Q23 Earnings Summary 4Q23 Outlook Summary 4Q23 Adjusted EBITDA Polyurethanes $40M – $50M Performance Products $25M – $35M Advanced Materials $40M – $45M Corporate ~($40M) Total ~$65M – $90M 11 11
Slide 12: 2023 Additional Modeling Considerations
3Q23 Earnings Summary 2023 Additional Modeling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$175M Dividends from Equity Affiliates ~$15M Headwind YoY In Year Cost Optimization Benefit ~$80M, excluding inflation Pension Contributions Similar to 2022 Pension
Slide 13: Financials and Reconciliation
3Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q21 2Q21 3Q21 4Q21 FY21 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 3Q23 LTM Segment Revenues: Polyurethanes $ 1,068 $ 1,155 $ 1,403 $ 1,393 $ 5,019 $ 1,386 $ 1,353 $ 1,257 $ 1,071 $ 5,067 $ 991 $ 1,012 $ 967 $ 4,041 Performance Produc
Slide 14: Financials and Reconciliation
3Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q21 2Q21 3Q21 4Q21 FY21 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 3Q23 LTM Net income (loss) $ 100 $ 172 $ 225 $ 607 $ 1,104 $ 240 $ 242 $ 115 $ (74) $ 523 $ 166 $ 31 $ 15 $ 138 Net income attributable to noncontrolling interests (17