Tronox Holdings Plc · NYSE:TROX
Tronox — Investor Presentation (August 2026)
36 slides from Tronox's investor presentation, August 2026
Slide 1: Tronox Holdings plc Company Overview
Tronox Holdings plc Company Overview Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 Published: August 2026
Slide 2: Safe Harbor Statement and Non-U.S. GAAP Financial Terms
Safe Harbor Statement and Non-U.S. GAAP Financial Terms Cautionary Statement about Forward-Looking Statements Statements in this presentation that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking
Slide 3: Tronox Overview
Tronox Overview Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 3
Slide 4: Tronox – Strong Foundation, Promising Future
Tronox – Strong Foundation, Promising Future Vertically Integrated Positioned for a Driving Operational Leveraging Global TiO2 Leader Structurally and Cost Strategic Critical Evolving TiO2 Improvement Minerals and Market Co-Products Value Integrated across mining, Capacity reductions, plant Cost ini
Slide 5: A Diversified, Vertically Integrated Titanium Industry Leader
A Diversified, Vertically Integrated Titanium Industry Leader TROX $2.9B $336M ~5,700 ~1,200 NYSE 2025 Revenue 2025 Adj. EBITDA Global Employees Customers • Vertically integrated mining and inorganic TiO2 SALES VOLUME SALES REVENUE REVENUE FROM DISTRIBUTION BY DISTRIBUTION BY chemical company PRODUC
Slide 6: Tronox's Competitive Position: Most Integrated TiO2 Producer
Tronox’s Competitive Position: Most Integrated TiO2 Producer ~$200-$400 per ton advantage on feedstock1 versus non-integrated peers TRONOX INTEGRATED OPERATIONS • Most pigment ore needs are met internally at full mining and Mining Operations upgrading capacity Namakwa Fairbreeze Cooljarloo Wonnerup
Slide 7: Diverse, Well-Balanced Global Footprint
Sites Diverse, Well-Balanced Global Footprint 6 Continents 5 Mineral Sand Mines 7 TiO2 Pigment Plants1 5 Upgrading Facilities TiO2 Capacity1 Tronox Corporate 850kt Chloride Pigment Chloride Sulfate Pigment Mineral Sands 92kt Operational Offices Sulfate 942kt Total 1) Excludes Botlek and Fuzhou. Botl
Slide 8: Value-Enhancing Benefits from Zircon & TiCl4
Value-Enhancing Benefits from Zircon & TiCl4 Tronox is the 2nd largest producer of zircon and the largest merchant supplier of Titanium Chemicals (TiCl4 & derivatives) Zircon • 2nd largest zircon supplier with ~200,000 tons of zircon produced annually – Largest production capacity of our portfolio a
Slide 9: We Remain On Track for Our Sustainability Targets
We Remain On Track for Our Sustainability Targets Split of embedded carbon in titanium dioxide Tronox perimeter 67% of emissions ACHIEVE NET ZERO REDUCE SCOPE 3 ZERO WASTE TO EXTERNAL ACHIEVE ZERO HARM BY SCOPE 1 & 2 BY 2050 EMISSIONS IN OUR DEDICATED LANDFILLS BUILDING CAPACITY IN SUPPLY CHAIN 32%
Slide 10: Changing Market Environment
Changing Market Environment Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 10
Slide 11: The Evolving TiO2 Market Landscape
The Evolving TiO2 Market Landscape Shifting structural dynamics • Historically driven by stocking and destocking cycles • Capacity reductions tightening global supply • COVID demand surge followed by multi-year downturn • Anti-dumping duties reducing Chinese exports into key, protected markets • Mar
Slide 12: TiO2 Market: Long-Term Growth Highly Correlated with GDP
TiO2 Market: Long-Term Growth Highly Correlated with GDP • Long-term TiO2 demand has historically been correlated with GDP growth, though recent correlation has been impacted by several short-term market impacts (COVID, tariffs, $120,000 9,000 R2: 98% conflicts in Eastern Europe and the Middle East,
Slide 13: TiO2 Facility Shutdowns Support Supply/Demand Balances
TiO2 Facility Shutdowns Support Supply/Demand Balances Since 2023, nearly 1 million tons of global TiO2 supply has permanently shut down Announced Annual TiO2 Curtailments Since 2023 Global Supply Shifts Driven by Ongoing Market Dynamics Thousand Metric Tons Per Annum • As a result of the current ma
Slide 14: Anti-Dumping Measures Supporting Market Rebalancing
Anti-Dumping Measures Supporting Market Rebalancing Chinese exports declining across key protected • Anti-dumping duties were implemented across four key markets following implementation of duties import markets in 2025 (EU, India, Brazil, Saudi) EU India1 Brazil Saudi — India duties were temporaril
Slide 15: China Operating at a Loss since Mid-2024
China Operating at a Loss since Mid-2024 • Chinese producers operating at cyclical low China Sulfate Rutile TiO2 Losses at Historical Highs profitability, with average losses of ~$520 per 21,000 3,000 ton across the sulfate industry • Sulfur costs have risen significantly (>300% 18,000 2,000 since e
Slide 16: Driving Earnings Improvement Through the Cycle
Driving Earnings Improvement Through the Cycle Commercial Approach Cost Structure Cash Generation • TiO2 and zircon 1H price increases • Sustainable cost improvement • Maintain disciplined capital allocation achieved; additional pricing actions program expected to achieve high approach underway for
Slide 17: Disciplined Cash and Earnings Management
Disciplined Cash and Earnings Management Actions taken in 2025 through 2026 • Launched and executing on $125-$175M Sustainable Cost Improvement Program • Closed Botlek and Fuzhou pigment plants given cost challenges • Pulled forward maintenance and temporarily idled select mining and upgrading asset
Slide 18: 2026 Capital Allocation Priorities
2026 Capital Allocation Priorities Prioritizing cash to ensure financial flexibility Investing to maintain our assets, vertical integration advantage, and projects critical to furthering our strategy Preserving liquidity Maintaining dividend aligned with current macroenvironment As the market recove
Slide 19: Rare Earths
Rare Earths Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 19
Slide 20: Rare Earths Opportunity: Tronox Has a Rare Mix of Skill Sets
Rare Earths Opportunity: Tronox Has a Rare Mix of Skill Sets Uniquely positioned as a global leader in the mining and chemical industry with established technical and operational expertise invaluable across the Rare Earths chain Hydro- and pyrometallurgy Tronox operates in both disciplines and count
Slide 21: Tronox Rare Earths Strategy & Key Developments
Tronox Rare Earths Strategy & Key Developments Rare Earths Value Chain: End-use applications: Hydromet Light & Heavy • Consumer electronics Mining & Metals & • Auto/EVs (Cracking & Rare Earth Magnets Concentration Alloys • Robotics Leaching) Separation • Offshore wind • Defense Tronox’s areas of foc
Slide 22: Appendix
Appendix Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 22
Slide 23: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Reconciliation of Net Income to EBITDA and Adjusted EBITDA (NON-U.S. GAAP) RECONCILIATION RECONCILIATION OF NET LOSS TO EBITDA AND ADJUSTED EBITDA, TRONOX HOLDINGS PLC OF NET LOSS TOEBITDA ADJUSTED EBITDAAS ADJUSTED EBITDA (NON-U.S. GAAP) (UNAUDITED) AND A%ADJUSTED EBITDA, OF NET SALES TRONOX HOLDIN
Slide 24: Operations & Asset Details
Operations & Asset Details Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 24
Slide 25: Tronox's Vertical Integration: From Mine to TiO2
Tronox’s Vertical Integration: From Mine to TiO2 Tronox mines the ore, separates the ilmenite that we upgrade to feedstock for use in our pigment plants Ore Ilmenite Feedstock Ore in ground Mining/Separation Upgrading Chloride Process Monazite Ilmenite Leucoxene / Rutile Zircon (Rare Earth Minerals)
Slide 26: Feedstock Supply Chain
Feedstock Supply Chain Mined Ilmenite Leucoxene Rutile products Upgraded feedstocks SP Slag Plant UGS Plant CP Slag Plant SR Plant Sulfate (SP) Sulfate (SP) Chloride (CP) Upgrade Slag Chloride (CP) RTCS Synthetic Rutile Chloride (CP) Leucoxene Natural Rutile ilmenite Slag Fines (UGS) Slag Slag (SR)
Slide 27: Established Mining Operations
Established Mining Operations Namakwa, South Africa KZN, South Africa Australia • Largest Heavy Mineral Concentrate • Fairbreeze Mine produced ~718kt • ~841kt of HMC produced across our (HMC) production of Tronox’s portfolio: HMC in 2025 three Australian sites in 2025 ~2,500kt in 2025 • 471kt Ilmeni
Slide 28: Upgrading Ilmenite to Produce High-Grade TiO2 Feedstock Material for our Pigment Plants
Upgrading Ilmenite to Produce High-Grade TiO2 Feedstock Material for our Pigment Plants Namakwa, KZN, South Africa Chandala, Australia South Africa • Two smelting furnaces that produce Ti • Metallurgical site which includes a kiln Slag that produces Synthetic Rutile • Titanium slag is produced by sm
Slide 29: Seven Pigment Plants Across Five Continents
Seven Pigment Plants Across Five Continents North America Europe Australia Tronox’s largest pigment plant is located in • Stallingborough, UK plant: Production • Kwinana, Western Australia plant (~40km Hamilton, Mississippi and has a production capacity of 165kt (chloride process) from Perth): Produ
Slide 30: Values, Safety, and Sustainability
Values, Safety, and Sustainability Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 30
Slide 31: We Lead With Safety
We Lead With Safety An uncompromising focus on operating safe, reliable and responsible facilities is our highest priority By operating safely, we assure our employees and local communities that we provide safe and decent work, and demonstrate to customers that we have reliable operations that can c
Slide 32: Our Values Guide Us
Our Values Guide Us Have an uncompromising focus Honor our responsibility to Treat others with respect and on operating safe, reliable create value for act with personal and and responsible facilities stakeholders organizational integrity Build our organization with Are Are trustworthy and reliable,
Slide 33: Tronox's Strategy
Tronox’s Strategy BY LIVING OUR VALUES, WE WILL: Purpose Be the best at Grow our what we do. future. Why we exist Foster a high-performance culture in Build on our current offering by We responsibly transform the earth’s resources into which we strive for zero harm and strategically aligning with ma
Slide 34: Leadership and Governance
Leadership and Governance Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2026 34
Slide 35: An Experienced Executive Team Committed to Delivering
An Experienced Executive Team Committed to Delivering John Romano John Srivisal Jeff Engle Amy Webb Chief Executive SVP, Chief Chief Commercial VP, Chief Human Officer Financial Officer Officer Resources Officer Jimmy Killebrew Mpho Mothoa Machiel Keegel Jennifer Guenther VP, Operations – VP, Operat
Slide 36: An Engaged Board of Directors
An Engaged Board of Directors Ilan Kaufthal CG* John Romano JF Turgeon Peter Johnston A, HRCC Chairman, Tronox (2020) CEO, Tronox Former Co-CEO, Tronox Former Global Head of Eastwind Advisors 2021 2021 Nickel Assets, Glencore Elected to Board: 2011 2012 Ginger Jones A*, CG Sipho Nkosi CG, HRCC Moazz
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