Albemarle Corporation · NYSE:ALB
Albemarle — Q1 2026 Earnings Presentation
33 slides from Albemarle's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Earnings
Q1 2026 Earnings May 7, 2026 8:00am ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations and beliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o
Slide 3: Non-GAAP Measures
Non-GAAP Measures It should be noted that adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted (loss) earnings per share attributable to common shareholders, non-operating pension and
Slide 4: Strong start to 2026; Maintaining focus on operational excellence
Strong operational execution, demonstrated by Q1 2026 results: Net sales of $1.4B (+33% Y/Y); higher pricing and volume in Energy Storage and Specialties Adj. EBITDA1 of $664M (+148% Y/Y); driven by higher pricing and volume in both Energy Storage and Specialties, as well as cost and productivit
Slide 5: Q1 2026 Financial Summary
Q1 2026 Financial Summary (in millions, except per share amounts) Q1 2026 Q1 2025 Variance Net Sales $1,429 $1,077 +33% Net Income Attributable to Albemarle Corporation $319 $41 +672% Adjusted EBITDA1 $664 $267 +148% Adjusted EBITDA Margin1 46% 25% +2170 bps Diluted Earnings (Loss) per Share Attribu
Slide 6: Q1 Y/Y Adjusted EBITDA Bridges
Q1 Y/Y Adjusted EBITDA1 Bridges ($ in millions) $700 $44 $43 Q1 2026 vs 2025 Y/Y – by Driver $600 $272 $22 ($5) $664 $500 Higher pricing and volumes in both segments $400 $300 $20 COGS benefit due to cost and $267 productivity improvements $200 partially offset by increased $100 Chilean commissi
Slide 7: Maintaining Total Company 2026E Outlook Considerations
Maintaining Total Company 2026E Outlook Considerations1 Increasing Specialties outlook due to higher pricing and volume Observed Lithium FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-2025 avg. Market Price Scenarios: (US$/kg LCE)2 $10 $10 $20 $30 Maintaining total company outlook as productivity and o
Slide 8: Specialties Overview
Specialties Overview Q1 2026 Performance Quarterly Performance Drivers (in millions) Q1 2026 Y/Y Net Sales 358 +12% • Q1 net sales up 12% Y/Y due to higher pricing and volume for bromine Adj. EBITDA 76 30% specialties; adj. EBITDA up 30%, due to product mix and cost and productivity improvements Adj
Slide 9: Energy Storage Segment Overview
Energy Storage Segment Overview Q1 2026 Performance (in millions) Q1 2026 Y/Y Quarterly Performance Drivers Net Sales 891 +70% • Q1 2026 sales volumes of 53kt LCE, at $17/LCE average realized price Adj. EBITDA 551 +196% • Q1 net sales up 70% Y/Y due to higher pricing and volumes; adj. EBITDA up Adj.
Slide 10: Ongoing Cost and Productivity and Cash Conversion Actions
Ongoing Cost and Productivity Operating Cash Flow Conversion1 and Cash Conversion Actions Trending Towards Long-Term Target Range On track to deliver FY 2026 cost and productivity improvements of $100-150M ‒ $40M achieved year-to-date primarily related to manufacturing and supply chain 85%* ‒ Exam
Slide 11: Recent Deleveraging Further Improves Balance Sheet and Reduces Quarterly Interest Expense
Recent Deleveraging Further Improves Balance Sheet and Reduces Quarterly Interest Expense Long-Term Debt Profile Following $1.3B Debt Repayment Ended Q1 2026 at Net Debt to EBITDA Ratio of 1.0x Weighted Average Interest Rate Decreased to 3.1% from 3.9% Recent Deleveraging Actions 4Q25: €0.4M Eurobon
Slide 12: Performance of Key End Markets Remains Strong
Performance of Key End Markets Remains Strong Electric Vehicles YTD Performance of Key Market • Sales in Americas down YoY, as expected following the removal of 30D tax incentives. Segments vs. Expectations • Europe performing strongly due to increased consumer incentives to support emissions target
Slide 13: Maintaining Lithium Demand Forecast, YTD 2026 Trending Within Forecasted Range
Maintaining Lithium Demand Forecast, YTD 2026 Trending Within Forecasted Range Stationary Storage EV Lithium Demand Li-Ion Battery Production1 Market Penetration2 by Application2 (GWh) (MMT LCE) Expect to be within forecast ranges 2025-2030 2025-2030 CAGR: 10-15% 2025-2030 for 2026 even after impact
Slide 14: Strong Start to 2026 as Accelerating ESS Demand More Than Offsets Weaker EV Sales
Strong Start to 2026 as Accelerating ESS Demand More Than Offsets Weaker EV Sales Global Energy Storage Systems Global Electric Vehicle (EV) Sales2 (ESS) Production1 (GWh) 1,200 (GWh) 1,200 Global ESS demand continues to accelerate, driven by higher electricity demand, grid reliability 1,000 1,000 a
Slide 15: On Track to Achieve 5-year CAGR of ~15% for Energy Storage Sales Volumes
On Track to Achieve 5-year (2022-27) CAGR of ~15% for Energy Storage Sales Volumes Positioned for Growth kT LCE 300 Growth rate moderates in 2026-27 growth requires minimal 2025-27 as large projects additional capex: complete ramp-up 240-260 250 25% CAGR (2022-25) Greenbushes CGP3 ramp up and 235
Slide 16: Solid Performance at Australian JV Operations
Solid Performance at Australian JV Operations; In-line With Our Expectations Wodgina (50% Albemarle) Greenbushes (49% Albemarle) Latest Updates Latest Updates Operating well with line of sight to full three-train operation CGP3 investment is ramping to our expectations Ore quality expected to
Slide 17: Disciplined Organic Growth Capital to Fuel Early-Stage Resource Projects
Disciplined Organic Growth Capital to Fuel Early-Stage Resource Projects Salar de Atacama Direct Lithium Extraction (DLE) Kings Mountain Mine Latest Updates Latest Updates Initiated permitting process for commercial DLE Received federal mining permits, progressing state La Negra DLE pilot plan
Slide 18: Strong start to 2026; Maintaining focus on operational excellence
Strong operational execution, demonstrated by Q1 2026 results: net sales of $1.4B; higher volume and price in all segments; adj. EBITDA1 of $664M up 148% Y/Y; cash from ops. of $346M; free cash flow1 of $248M Enhanced FY 2026 outlook considerations: increasing Specialties outlook on Strong start to
Slide 19: Q2 2026 Investor Relations Events
Q2 2026 Investor Relations Events May 21 New York City NDR Meredith Bandy, CFA VP, Investor Relations & Sustainability May 26-28 EU NDR meredith.bandy@albemarle.com +1 980.999.5168 Jun 9 Wells Fargo Industrials & Materials Conference Isaac Price Senior Manager, Investor Relations isaac.price@albemar
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Slide 21: Appendix
\ Albemarle* Appendix
Slide 22: Energy Storage Quarterly Sales Metrics
Energy Storage Quarterly Sales Metrics Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Average Lithium Market Price1 ($/kg LCE) $14.51 $11.74 $10.24 $9.85 $8.82 $9.42 $11.19 $20.24 Energy Storage Net Sales ($M) $830 $767 $617 $525 $718 $709 $759 $891 Energy Storage Sales Volume2,3 (k
Slide 23: Energy Storage 2026E Outlook Considerations and Market Price Scenarios
Energy Storage Albemarle does not provide forecasts of lithium price 2026E Outlook Considerations and Market Price Scenarios1 Scenarios based on observed lithium market pricing Observed Lithium FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-25 avg. Average realized price below Market Price Scenarios: (
Slide 24: Specialties, Ketjen, and Corporate FY 2026E Outlook Considerations
Specialties, Ketjen, and Corporate FY 2026E Outlook Considerations FY 2026E Segments FY 2025A as of May 6, 2026 Specialties Net Sales $1.4B $1.3B – $1.5B Specialties Adj. EBITDA $276M $225M – $275M Other Corporate Capital Expenditures $590M $550M – $600M Depreciation and Amortization $659M $660M – $
Slide 25: Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios
Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios 2026 Outlook Market Price Scenario values represent midpoint of ranges (in millions, except per share amounts) ~$10 (2025 avg.) ~$30 (2021-25 avg.) Adjusted EBITDA1 $900 $4,300 - Pre-Tax Equity Income $360 Assuming 30% AU
Slide 26: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non-operating pension and OPEB. Common Shareholders Adjusted Diluted EPS Attributable to Diluted
Slide 27: Adjusted Net Income
Adjusted Net Income Three Months Ended March 31, ($ in thousands) 2026 2025 Net income attributable to Albemarle Corporation $ 319,091 $ 41,348 Add back: Non-operating pension and OPEB items (net of tax) 971 125 Non-recurring and other unusual items (net of tax) 81,390 (21,200) Adjusted net income a
Slide 28: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Three Months Ended Year Ended March 31, December 31, 2026 2025 2025 % of net % of net % of net ($ in thousands) $ sales $ sales $ sales Net income attributable to Albemarle Corporation $ 319,091 22.3 % $ 41,348 3.8 % $ (510,628) (9.9)% Add back: Interest and financing expe
Slide 29: Adjusted EBITDA supplemental
Adjusted EBITDA supplemental1 Twelve Months ($ in thousands) Ended Three Months Ended Mar 31, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Adjusted EBITDA $ 1,494,663 $ 663,814 $ 268,744 $ 225,630 $ 336,475 Equity in net income of non- Windfield Holdings unconsolidated investments (net o
Slide 30: Diluted EPS
Diluted EPS Three Months Ended March 31, 2026 2025 Diluted income (loss) per share attributable to Albemarle Corporation common shareholders $ 2.34 $ (0.00) Add back: Non-operating pension and OPEB items (net of tax) 0.01 — Non-recurring and other unusual items (net of tax) Restructuring charges and
Slide 31: Effective Tax Rate
Effective Tax Rate Income (loss) before income taxes and equity in net income of unconsolidated Income tax expense Effective income tax ($ in thousands) investments (benefit) rate Three months ended March 31, 2026 As reported $ 254,195 $ 21,511 8.5 % Non-recurring, other unusual and non-operating pe
Slide 32: Equity Income and Noncontrolling Interest
Equity Income and Noncontrolling Interest Three Months Ended March 31, 2026 2025 Noncontrolling Noncontrolling ($ in thousands) Equity Income Interest Equity Income Interest Energy Storage $ 82,967 $ — $ 50,845 $ — Specialties — (9,886) — (7,950) Corporate and All Other 13,326 — 13,441 — Total Compa
Slide 33: www.albemarle.com
NYSE www.albemarle.com \ Albemarle”