Slide 1: Innovation + Leadership + Excellence
<i _ = ai ly ' INNOVATION + LEADERSHIP + EXCELLENCE
Slide 2: Forward Looking Statements and Non-GAAP Measures
re MNerecies Forward Looking Statements VV\f and Non-GAAP Measures v 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 n
Slide 3: Chief Executive Officer
INNOVATION - LEADERSHIP » EXCELLENCE CHIEF EXECUTIVE OFFICER
Slide 4: 2020 Highlights
2020 Highlights re MNerecies VV\f Ww Navigated Challenging Environment EH&S * COVID-19 Response + Lowest Recordable Injury Rate + Advancing Sustainability Agility & Resilience * Quickly Adapted to Challenges * Consumer-Oriented Strength * Strong Start and Finish to Year * Geographic and End Market D
Slide 5: Fourth Quarter 2020 Highlights
Fourth Quarter 2020 Highlights Vv Demand Continued to Improve Across Major End Markets * Sales +11% Sequentially; 2% Lower YoY YoY Growth in Several Product Lines + Metalcasting +6%; China +29% * Household, Personal Care & Specialty +6% * SPCC +23% * Ground Calcium Carbonate +8% $61M * Talc +13% OPE
Slide 6: Chief Financial Officer
INNOVATION - LEADERSHIP » EXCELLENCE CHIEF FINANCIAL OFFICER
Slide 7: Fourth Quarter Financial Highlights
re MNerecies VV\4 Ww Fourth Quarter Financial Highlights a) Mas Q419 @Q4’20 Change 440.2 23 4425 —_— B _ we tT 4318 ; i m_(124) a Sales ($M) 440.2) 431.8) (2%) Q419 FX AdjustedVol/ Mix Price Q4’20 Baseline Gross Margin (%) 24.5 25.8 | +130bp Operating Income*, $M SG8A* (%) 12.4] 11.6] (80bp) wh oe e
Slide 8: Full Year Financial Highlights
re MNerecies VV\4 Ww Full Year Financial Highlights Sales, $M FY19 FY20 Change 1,791.0 1,774.7 | rs . 10.8 1,594.8 (16.3) BZ. mm 108 1 Sales ($M) 1,791.0} 1,594.8] (11%) _—s (190.7) 2019 FX Adjusted Vol/ Mix Price 2020 Baseline Gross Margin (%) 24.6 25.4] +80bp Operating Income*, $M SG&A* (%) TLS 42
Slide 9: Performance Materials
Performance Materials Sales, $M Q419 Q320 420 Operating Income*, $M Q419 Q3'20 420 Margin*| 11.5% | 14.8% | 15.0% Metalcasting Sales +17% Sequentially; +6% vs. Prior Year Solid Consumer-Oriented Sales Growth + Pet Care, Personal Care, and Edible Oil Purification Up Double-Digits YoY Slower Recovery
Slide 10: Specialty Minerals
Specialty Minerals Sales, $M 141.8 138.9 125.1 Q419 Q3'20 Q420 Operating Income”, $M lil Q419 = Q3'20 = Q4'20 Margin*| 13.7% | 14.3% | 15.8% PCC Sales +12% Sequentially and 6% Below Prior Year + Paper +12%, Specialty +13% Sequentially Processed Minerals Increased 8% Sequentially and 10% Above Prior
Slide 11: Refractories
Refractories Fourth arter Results Sales, $M Operating Income”, $M a Sj 73.4 73.9 10.4 11.1 59.3 73 Q419 Q3'20 420 [Margin’] 14.2% | 12.3% | 15.0% Q419 Q320 Q4'20 Sales Highlights Operating Highlights Steel Utilization Rates Continued to Improved Cost Position Gradually Improve + Q4'20 Utilization ~7
Slide 12: Energy Services
Energy Services Sales, $M Operating Income”, $M 23.6 25 16.8 13.3 0.6 0.0 Q419 Q3'20 420 Margin*| 10.6% | 0% 3.6% Q419 =Q3'20 =Q4'20 Higher Activity Sequentially; Sales +26% Maintaining Cost Discipline Weather Impacted Q4 Scheduling in US Leveraged Incremental Sales Gulf of Mexico; COVID Restriction
Slide 13: Cash Flow and Liquidity Highlights
Cash Flow and Liquidity Highlights re MNerecies Hl Cash From Operations, $M @ Capital Expenditure, $M (-]Free Cash Flow Cash Flow and Capital Deployment Q419 240.6 238.3 (416%) 173.3 1745 79.8 92.2 65.0 66.1 13.2 66.6 | ae 71.9 Q4'20 2019 2020 Q4'20 Debt Payment $80M FY ‘20 Debt Payment $140M Q4'20
Slide 14: First Quarter Outlook
First Quarter Outlook re MNerecies Similar Market Conditions to Q4 Performance Materials Products * Metalcasting Remaining Strong Improve in Q2 Specialty Minerals * Continued Strength in Consumer-Oriented * Sequential PCC Growth Driven by New Satellite Ramping Up in China * Solid Demand for SPCC & P
Slide 15: 2021 Perspective
2021 Perspective re MNerecies VV\4 Ww Markets = / COVID-19 & End-Market Volatility Persists Strong Consumer, Transportation & Residential Construction Demand Paper & Steel Demand Continues to Improve Expect Project-Oriented Businesses to Improve in Q2 Growth New Product and Process Development Conti
Slide 16: Innovation + Leadership + Excellence
<i _ = ai ly ' INNOVATION + LEADERSHIP + EXCELLENCE