Slide 1: Q3 2025 Quarterly Results and Outlook Conference Call
Q3 2025 Quarterly Results and Outlook Conference Call November 10, 2025 © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 1
Slide 2: Administrative Items
ADMINISTRATIVE ITEMS Conference Call and Access to Information More information on Enviri's quarterly earnings, including the Company’s earnings press release issued today and this presentation, is available on the Investor Relations portion of Enviri’s website. Company management will discuss the C
Slide 3: CEO Perspective
CEO PERSPECTIVE • Clean Earth achieved record quarterly earnings • Harsco Environmental results highest for the year, although new-site delays and higher opex weighed on performance • Harsco Rail impacted by weak demand for standard products • Revised 2025 guidance reflects mixed performance • Busin
Slide 4: Q3 2025 Financial Summary
Q3 2025 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations1 • Revenues unchanged with higher Q3 2025 Q3 2024 CHANGE revenues in Clean Earth and Revenues, as reported 575 574 nmf Harsco Rail offset by Harsco Environmental Income (loss) from Continuing (20) (1
Slide 5: Q3 2025 Harsco Environmental Summary Results
Q3 2025 HARSCO ENVIRONMENTAL SUMMARY RESULTS ($ MILLIONS) Q3 2025 Q3 2024 % • Revenue and Revenues, as reported 261 279 (6)% Adjusted EBITDA Operating Income – GAAP 13 33 (60)% change YoY reflect Adjusted EBITDA1 - Non GAAP 44 53 (17)% Adjusted EBITDA1 Margin - Non the impact of GAAP 17.0% 19.0% bus
Slide 6: Q3 2025 Clean Earth Summary Results
Q3 2025 CLEAN EARTH • Revenue and SUMMARY RESULTS ($ MILLIONS) Q3 2025 Q3 2024 % Adjusted EBITDA Revenues, as reported 250 237 6% increase YoY due to Operating Income – GAAP 27 27 nmf higher volumes and Adjusted EBITDA1 - Non GAAP 43 42 4% services pricing Adjusted EBITDA1 Margin - Non 17.3% 17.5% G
Slide 7: Q3 2025 Harsco Rail Summary Results
Q3 2025 HARSCO RAIL • Revenue change YoY SUMMARY RESULTS ($ MILLIONS) Q3 2025 Q3 2024 % reflects higher aftermarket volumes Revenues, as reported 64 58 10% and PY contract Operating Income – GAAP (9) (14) 39% adjustments, partially Adjusted EBITDA1 - Non GAAP (4) (2) (48)% offset by lower Adjusted E
Slide 8: 2025 Outlook – Consolidated
2025 OUTLOOK – CONSOLIDATED Current 2025 Outlook Prior 2025 Outlook GAAP LOSS FROM CONTINUING $(103) - $(93) million $(74) - $(56) million OPERATIONS ADJUSTED EBITDA1 $268 - $278 million $290 - $310 million GAAP DILUTED EARNINGS (LOSS) PER $(1.32) - $(1.20) $(0.97) - $(0.75) SHARE FROM CONTINUING OP
Slide 9: Q4 2025 Outlook
Q4 2025 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: Adjusted EBITDA1 expected to be between Adjusted EBITDA $62 - 72 million modestly below prior- year quarter due to contract exits and product volumes Adjusted diluted earnings per share from continuing operations1 is expected Adjusted EBITDA abo
Slide 10: Q&A
Q&A © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 10
Slide 11: Appendix
APPENDIX © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 11
Slide 12: Non-GAAP Measures
NON-GAAP MEASURES Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-
Slide 13: 2025 Segment Outlook
2025 SEGMENT OUTLOOK Down MSD (mid single digits) % YoY excluding FX & divestitures; Down REVENUES HSD (high single digits) to LDD (low double digits) % YoY as reported Mid-teens % decrease YoY at mid-point, including FX translation & ADJUSTED EBITDA1 divestitures impacts DRIVERS + New contracts / s
Slide 14: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX, AS REPORTED (Unaudited) Three Months Ended Nine Months Ended September 30 September 30 (in thousands, except per share a
Slide 15: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX, AS REPORTED (Unaudited) (Continued from Previous Slide) (a) Classified in Total revenues and includes a $12.2 million in
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX (Unaudited) Projected Three Months Twelve Months Ending Ending December 31 December 31 2025 2025 (in millions,
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Three Months Ended September 30, 2025: Operati
Slide 18: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Three Months Ended September 30, 2024: Operati
Slide 19: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Nine Months Ended September 30, 2025: Operatin
Slide 20: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Nine Months Ended September 30, 2024: Operatin
Slide 21: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended September 30 (In thousands) 2025 2024 Consolidated income (loss) from continuing operations $ (20,
Slide 22: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Nine Months Ended (In thousands) 2025 2024 Consolidated income (loss) from continuing operations $ (77,098) $ (37,058
Slide 23: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED CONSOLIDATED ADJUSTED EBITDA TO PROJECTED CONSOLIDATED INCOME FROM CONTINUING OPERATIONS (Unaudited) Projected Three Months Ending Twelve Months Ending December 31 December 31 2025 2025 (In millions) (a) Low High Low
Slide 24: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CHANGES IN TOTAL REVENUES AS REPORTED, EXCLUDING DIVESTITURES (Unaudited) Three Months Ended (in millions) Organic Other Total Total revenues - September 30, 2024 $ 573.6 Effects on revenues: Price/volume changes (a) 5.9 — 5.9
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited) Three Months Ended Nine Months Ended September 30 September 30 (In thousands) 2025 2024 2025 2024 Net cash provided (used) by operating act
Slide 26: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited) Projected Twelve Months Ending December 31 2025 (In millions) Low High Net cash provided by operating activities $ 87 $
Slide 27: © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth
© 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. Any disclosure or copying of this document and its contents without the prior written approval of Enviri Corporation is prohibited. All Rights Reserved.