Minerals Technologies Inc. · NYSE:MTX

Minerals Technologies — Q3 2025 Earnings Presentation

18 slides from Minerals Technologies's earnings presentation, Oct 24, 2025

1. Slide 1: Third Quarter 2025 Earnings Conference Call

   THIRD QUARTER 2025 EARNINGS CONFERENCE CALL October 24, 2025 © 2025 Minerals Technologies Inc. All Rights Reserved.

2. Slide 2: Forward-Looking Statements and Non-GAAP Measures

   Forward-Looking Statements and Non-GAAP Measures This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations and forecasts of future events such as new products, revenue

3. Slide 3: Douglas T. Dietrich, Chairman and Chief Executive Officer

   Douglas T. Dietrich Chairman and Chief Executive Officer

4. Slide 4: Third Quarter 2025 Overview

   Third Quarter 2025 Overview $532M $78M 14.7% $1.55 Operating Operating Earnings Sales Income Margin Per Share +1% (1%) (20bps) +0% vs. Prior Quarter vs. Prior Quarter vs. Prior Quarter vs. Prior Quarter  Record third quarter earnings per share  Strong execution amid mixed market conditions  Stron

5. Slide 5: Current Market Conditions Overview

   Current Market Conditions Overview CONSUMER & SPECIALTIES  Flat N. America cat litter market; Asia strong Household & Personal Care  Strong demand for natural oil purification and animal health Specialty  Mixed market conditions in paper & packaging Additives  Residential construction relatively

6. Slide 6: Recent Organic Growth Investment Highlights

   Recent Organic Growth Investment Highlights MARKET DYNAMICS RECENT INVESTMENTS Cat litter market  Upgrading lowest-cost cat litter hubs in US and Canada long-term 3-4% 6-8%  Expanding capacity in rapidly growing market in Asia growth rates CAGR CAGR N. America Asia CONSUMER & SPECIALTIES Other  E

7. Slide 7: Erik C. Aldag, Chief Financial Officer

   Erik C. Aldag Senior Vice President, Finance and Treasury and Chief Financial Officer

8. Slide 8: Third Quarter Financial Summary

   Third Quarter Financial Summary Third Quarter versus Second Quarter ($M) Q3 ‘25 YoY Seq Sales +1% Sales ($M) 532 +1% +1% +2 +3 532 529 +1 (3) Gross Margin (%) 25.7 (10bps) (20bps) Q2 ’25 Household & Specialty High- Environmental Q3 ’25 Operating Income ($M) 78 (1%) (1%) Personal Care Additives Tempe

9. Slide 9: Consumer & Specialties Segment Financial Performance

   CONSUMER & SPECIALTIES SEGMENT Financial Performance Sales Third Quarter Summary Sales Performance $280M $278M $277M  Pet litter sales gaining momentum  Growth in natural oil purification and fabric care  Global paper & packaging volumes flat  Softening residential construction demand Q3 ’24 Q2

10. Slide 10: Engineered Solutions Segment Financial Performance

    ENGINEERED SOLUTIONS SEGMENT Financial Performance Sales Third Quarter Summary Sales Performance $244M $251M $255M  Mixed market conditions in High-Temperature Technologies  Several Minscan® equipment sales to steel customers  Improvement in Environmental & Infrastructure sales Q3 ’24 Q2 ’25 Q3 ’

11. Slide 11: Balance Sheet and Capital Deployment

    Balance Sheet and Capital Deployment Cash Flow and Capital Deployment Liquidity Q3 ’24 Q3 ’25 Q3 ‘24 Q3 ‘25 Cash, Cash Equivalents, $325M $328M and Short-Term Investments Available Revolver $231M $378M Cash Flow from Operations $60M $71M Total Liquidity $556M $706M Capital Expenditures $25M $27M Deb

12. Slide 12: Fourth Quarter Outlook

    Fourth Quarter Outlook $510M-$525M Sales Key Factors:  Continued traction with growth initiatives in Household & Personal Care  Seasonally slower period for construction & large-scale project activity $65M - $70M Operating Income  Softer market conditions for residential construction  N. America

13. Slide 13: © 2025 Minerals Technologies Inc. All Rights Reserved.

    © 2025 Minerals Technologies Inc. All Rights Reserved.

14. Slide 14: Appendix

    Appendix © 2024 Minerals Technologies Inc. All Rights Reserved.

15. Slide 15: Net Income and Diluted EPS Excluding Special Items

    Reconciliation Net Income and Diluted EPS Excluding Special Items The information set forth in the Analyst Presentation presents financial measures of the Company that exclude certain special items, and are therefore not in accordance with GAAP. The following is a presentation of the Company’s non-G

16. Slide 16: Segment Operating Income Excluding Special Items

    Reconciliation Segment Operating Income Excluding Special Items (millions of dollars) Quarter Ended Nine Months Ended Sep. 28, Jun.29, Sep. 29, Sep. 28, Sep. 29, 2025 2025 2024 2025 2024 Segment Operating Income (Loss) Consumer & Specialties Segment $ 37.4 $ 34.0 $ 41.7 $ 98.9 $ 127.6 Engineered Sol

17. Slide 17: Adjusted EBITDA Excluding Special Items

    Reconciliation Adjusted EBITDA Excluding Special Items (millions of dollars) Quarter Ended Nine Months Ended Sep. 28, Jun.29, Sep. 29, Sep. 28, Sep. 29, 2025 2025 2024 2025 2024 Net income (loss) attributable to MTI $ 43.0 $ 45.4 $ 46.7 $ (55.6) $ 113.1 Add back: Depreciation, depletion and amortiza

18. Slide 18: Free Cash Flow

    Reconciliation Free Cash Flow (millions of dollars) Quarter Ended Nine Months Ended Sep. 28, Jun.29, Sep. 29, Sep. 28, Sep. 29, 2025 2025 2024 2025 2024 Cash flow from operations $ 70.9 $ 62.9 $ 60.0 $ 129.4 $ 166.0 Capital expenditures 27.3 29.1 24.7 74.7 61.4 Free cash flow $ 43.6 $ 33.8 $ 35.3 $

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