Slide 1: Q4 2025 Earnings Presentation
Q4 2025 Earnings Presentation February 5, 2026 Q4 2025 Earnings Presentation FMC CORPORATION 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this presentation are forward- looking statements that are based on our current views and assumptions regarding future events, future business conditions and the outlook
Slide 3: CEO Key Messages
CEO Key Messages • Subdued 2025 crop protection market due to excess industry capacity and weak grower margins • Ag conditions expected to remain challenging in 2026 Overview • FMC portfolio largely off-patent; expected to change in the next three years as new active ingredients scale up through lau
Slide 4: 2026 Priorities
2026 Priorities Strengthen Balance Improve Continue Post-Patent Grow Sales of New Sheet: Targeting $1B of Competitiveness of Rynaxypyr® Strategy Active Ingredients Debt Paydown Core Portfolio Lower manufacturing costs Offer advanced mixtures and Complete sale of India Sales expected to reach of non-
Slide 5: FY 2026 Financial Outlook
FY 2026 Financial Outlook FY 2026 Guidance REVENUE excl. India1 REVENUE (excl. India)1 DRIVERS • Price down mid-single digits mainly due to Rynaxypyr® $3.60 billion – • Excluding India, volume is modestly higher $3.80 billion • India represents a 2 percent headwind (5)% YoY3 • FX neutral ADJ. EBITDA
Slide 6: 2026 Full Year Adjusted EBITDA Bridge
2026 Full Year Adjusted EBITDA1 Bridge Lower volume and pricing Expected lower partner sales with branded earnings flat Includes $20M tariff Strong contribution headwind from fluindypyr and Isoflex® $843M *No impact from India removal $700M 1 2 2025A FY EBITDA Legacy Core Rynaxypyr ® 2 All Other Inc
Slide 7: Q1 2026 Financial Outlook
Q1 2026 Financial Outlook Q1 2026 Guidance REVENUE excl. India1 Q1 REVENUE (excl. India)1 DRIVERS • Price down mid-single digits $725 million – • Volume up slightly with modest growth in most regions $775 million • India represents a 5 percent headwind (5)% YoY3 • Low-single digit FX tailwind Q1 ADJ
Slide 8: 2026 Cash Flow Guidance
2026 Cash Flow Guidance $0M $(165)M 1 1 2 1 2025 FCF Adj. EBITDA Capex Working Capital, Other Cash from Ops 2026 FCF FY ’26 ’26 midpoint In Millions FY ’25 actual guidance vs. ’25 actual Adjusted EBITDA1 $670 - 730 $843 $(143) Cash from Operations (GAAP) $90 - $260 $(6) $181 Capital Additions & Othe
Slide 9: Looking Ahead: Strength of Active Ingredient Pipeline Key to Sales Growth
Looking Ahead: Strength of Active Ingredient Pipeline Key to Sales Growth Expect at least $2B of base sales from new actives with additional upside from crop expansion Dodhylex® herbicide: Base Sales Expectations of Four New • First new mode of action herbicide in decades; Controls herbicide resista
Slide 10: Key Dynamics for 2027 & 2028
Key Dynamics for 2027 & 2028 Stabilize Core • Execute Rynaxypyr® post-patent strategy Portfolio • Return Legacy Core to growth following implementation of actions to improve competitiveness Advance Growth • Steady growth of Cyazypyr® and Plant Health Portfolio • Accelerating growth from new active i
Slide 11: Q4 2025 Earnings Presentation
Q4 2025 Earnings Presentation FMC CORPORATION 11
Slide 12: Q4 2025 Results
Q4 2025 Results Q4 2025 Q4 20242 2025 VS. 20243 GAAP Revenue $1,083 $1,224 (12)% Revenue ex. India1 $1,086 (11)% GAAP Net Income $(1,721) $(16) $(1,705) Adjusted EBITDA1 $280 $339 (17)% % Revenue (ex. ’25 India) 25.8% 27.7% (190) bps GAAP EPS $(13.74) $(0.13) $(13.61) Adjusted EPS1 $1.20 $1.79 (33)%
Slide 13: Q4 2025 Regional Revenue Drivers
Q4 2025 Regional Revenue Drivers Lower revenue ex. India driven by lower price REGIONAL REVENUE BRIDGE (Excluding India)1 North $351 million Latin $371 million (3% YOY, (-5% YOY, America 3% ex-FX) America -10% ex-FX) $1,224 • Higher volumes driven by herbicides • Branded price down high-single digit
Slide 14: Q4 2025 Adjusted EBITDA Drivers
Q4 2025 Adjusted EBITDA1 Drivers Adjusted EBITDA1 down 17% Adjusted EBITDA1 BRIDGE $339 $307 ($32) $34 $280 $56 ($41) ($76) Q4 ‘24 India India Q4 ‘24 ex. India Volume, Mix, Volume, Mix,… Price Cost Cost FX Q4 '25 Q4 ‘25 Launches Q4 '24 Q4 '24 ex. India Price FX Note: Amounts in millions of USD KEY D
Slide 15: FY 2025 Results
FY 2025 Results FY 2025 FY 2024 2025 VS. 20243 GAAP Revenue $3,467 $4,246 (18)% Revenue ex. H2 ’25 India1,2 $3,889 (8)% GAAP Net Income $(2,237) $342 $(2,579) Adjusted EBITDA1 $843 $903 (7)% % Revenue (ex. H2 ’25 India) 21.7% 21.3% 40 bps GAAP EPS $(17.88) $2.72 $(20.60) Adjusted EPS1 $2.96 $3.48 (1
Slide 16: FY 2025 Regional Revenue Drivers
FY 2025 Regional Revenue Drivers REGIONAL REVENUE BRIDGE (Excluding India)1 North $1,102 million Latin $1,351 million (-3% YOY, America (-6% YOY) America -3% ex-FX) $4,246 $4,104 • Volume growth led by new product • Volume growth driven by new product $36 $3,889 launches, primarily fluindapyr ($142)
Slide 17: FY 2025 Adjusted EBITDA Drivers
FY 2025 Adjusted EBITDA1 Drivers Adjusted EBITDA1 down 7%, mostly driven by India Adjusted EBITDA1 BRIDGE $903 $862 $287 $843 ($41) ($28) ($18) ($260) FY ‘24 India India FY ‘24 ex. India Volume, Mix, Volume, Mix,… Price Cost Cost FX FY '25 FY ‘25 Launches FY '24 FY '24 ex. India Price FX Note: Amoun
Slide 18: 2025 Cash From Operations and Free Cash Flow
1 2025 Cash From Operations and Free Cash Flow $613M $(165)M 1 1 2 2024 FCF Adj. EBITDA AR Inventory Payables Capex All Other CFO 2025 FCF 1 In Millions Q4 ‘25 FY ‘25 FY ‘243 Adjusted EBITDA1 $280 $843 $903 Cash from Operations (GAAP) $657 $(6) $737 Capital Additions & Other Investing Activities $(1
Slide 19: Adjusted EPS Variance
Adjusted EPS1 Variance $1.79 $(0.43) $(0.07) $(0.09) $0.00 $1.20 Q4 ’24 Adj. EBITDA1 TAXES INTEREST EXPENSE OTHER Q4 ’25 • EBITDA1 lower • Higher rate • Reflects higher • Minority debt, higher Interest, D&A rates $3.48 $(0.43) $(0.07) $(0.03) $0.01 $2.96 FY ’24 Adj. EBITDA1 TAXES INTEREST EXPENSE OT
Slide 20: Modeling Assumptions for 2026
Modeling Assumptions for 2026 Appendix $255 million – 16 – 18 $1 million – Revenue: ~$90 million EBITDA: $0 million $275 million percent $3 million INTEREST EXPENSE NON-CONTROLLING INTEREST 2026 EXPECTED INDIA LOSS OF ADJUSTED TAX RATE1 CONTRIBUTION ~125.7 $160 million – $(65) million – $90 – $110 m
Slide 21: Additional Disclaimers
Additional Disclaimers Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. No offer for sale, sale, or use of any such products is permitted prior to the issuance of t
Slide 22: Q4 2025 Earnings Presentation FMC CORPORATION
Copyright © 2026, FMC Corporation. All Rights Reserved. Q4 2025 Earnings Presentation FMC CORPORATION 22