Slide 1: Q2 2025 Quarterly Results and Outlook Conference Call
Q2 2025 Quarterly Results and Outlook Conference Call August 5, 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 • Environmental businesses performed well in second quarter ◦ Clean Earth growth and margins in-line with expectations ◦ Harsco Environmental results stable while end-markets remain soft • Harsco Rail performance impacted by weak demand for standard products and higher manufacturing
Slide 4: Q2 2025 Financial Summary
Q2 2025 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations Q2 2025 Q2 2024 CHANGE • Revenue and Adjusted EBITDA changes YoY reflect business divestitures and Revenues, as reported 562 610 (8)% site exits in Harsco Environmental and lower volumes in Harsco Ra
Slide 5: Q2 2025 Harsco Environmental
Q2 2025 HARSCO ENVIRONMENTAL SUMMARY RESULTS ($ MILLIONS) Q2 2025 Q2 2024 % • Revenue and Revenues, as reported 258 293 (12)% Adjusted EBITDA Operating Income – GAAP 4 20 (79)% change YoY reflect 1 Adjusted EBITDA - Non GAAP 40 49 (19)% 1 Adjusted EBITDA Margin - Non the impact of GAAP 15.5% 16.8% b
Slide 6: Q2 2025 Clean Earth
Q2 2025 CLEAN EARTH SUMMARY RESULTS ($ MILLIONS) Q2 2025 Q2 2024 % • Revenue increase Revenues, as reported 246 236 4% YoY resulted from Operating Income – GAAP 25 24 3% higher volumes and 1 Adjusted EBITDA - Non GAAP 40 38 5% pricing Adjusted EBITDA Margin - Non 1 16.3% 16.1% GAAP • Adjusted EBITDA
Slide 7: Q2 2025 Harsco Rail
Q2 2025 HARSCO RAIL • Revenue change YoY SUMMARY RESULTS ($ MILLIONS) Q2 2025 Q2 2024 % reflects lower Revenues, as reported 58 81 (28)% shipments of Operating Income – GAAP (20) (3) nmf equipment, 1 aftermarket parts, Adjusted EBITDA - Non GAAP Adjusted EBITDA Margin - Non 1 (3) 7 nmf and technolog
Slide 8: 2025 Outlook – Consolidated
2025 OUTLOOK – CONSOLIDATED 2025 Outlook Prior 2025 Outlook GAAP LOSS FROM CONTINUING $(74) - $(56) million $(36) - $(17) million OPERATIONS 1 ADJUSTED EBITDA $290 - $310 million $305 - $325 million GAAP DILUTED EARNINGS (LOSS) PER $(0.97) - $(0.75) $(0.50) - $(0.26) SHARE FROM CONTINUING OPERATIONS
Slide 9: Q3 2025 Outlook
Q3 2025 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA below $76 - 86 million prior-year quarter due to divestitures and contract exits Adjusted diluted earnings per share 1 from continuing operations is expected Adjusted EBITDA above to be be
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 LSD (low single digits) % YoY excluding FX & divestitures; down REVENUES HSD (high single digits) % as reported 1 ADJUSTED EBITDA Down ~10% at mid-point, including FX translation & divestitures impacts DRIVERS + New contracts / sites, improvement initiatives, product volume
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 Six Months Ended June 30 June 30 (in thousands, except per share amounts) 202
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 September 30 December 31 2025 2025 (a) (in milli
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 June 30, 2025: Operating in
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 June 30, 2024: Operating in
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 Six Months Ended June 30, 2025: Operating inco
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 Six Months Ended June 30, 2024: Operating inco
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 June 30 (In thousands) 2025 2024 Consolidated income (loss) from continuing operations $ (45,892)
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) Six Months Ended (In thousands) 2025 2024 Consolidated income (loss) from continuing operations $ (56,920) $ (25,964)
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 September 30 December 31 2025 2025 (a) (In millions) Low High Low
Slide 24: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CHANGES IN REVENUES FROM ORGANIC GROWTH TO CHANGES IN REVENUES, AS REPORTED (Unaudited) Three Months Ended (in millions) Organic Other Total Total revenues - June 30, 2024 $ 610.0 Effects on revenues: Price/volume changes (a) (
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION HARSCO ENVIRONMENTAL SEGMENT CHANGES IN TOTAL REVENUES, EXCLUDING DIVESTITURES (Unaudited) Three Months (in millions) Ended Harsco Environmental segment revenues - June 30, 2024 $ 292.9 Effects on revenues: (a) Price/volume changes (16.9) Foreig
Slide 26: 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 Six Months Ended June 30 June 30 (In thousands) 2025 2024 2025 2024 Net cash provided (used) by operating activities $ 2
Slide 27: 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 $ 141
Slide 28: © 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.