Slide 1: Second Quarter 2026 Earnings Call
Second Quarter 2026 Earnings Call July 31, 2026
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by management, forec
Slide 3: Key 2Q26 Highlights
Key 2Q26 Highlights Olin and Huntsman announced a transformative 1 merger of equals, targeted to close in 1H27 2 Initial Iran conflict supply disruptions and price premiums diminished as the quarter progressed 3 Chlor Alkali performance improved sequentially from higher caustic soda and EDC pricing
Slide 4: Olin-Huntsman Merger of Equals – Transaction Update
OlinHuntsman Merger of Equals – Transaction Update Background and Strategic Rationale Key Milestones • All stock merger of equals Jun 16, 2026: Merger agreement announced • Creates a vertically-integrated, low-cost, North American Jul 8, 2026: HSR filed with FTC/DOJ leader with complementary EU & As
Slide 5: Chlor Alkali Products & Vinyls Segment Performance
Chlor Alkali Products & Vinyls Segment Performance Sales ($M) Adjusted EBITDA ($M) Actions $171 • Continuing our value-first $980 $152 commercial approach $820 • On pace to deliver 2026 Beyond250 $757 cost savings $85 Looking Ahead • Seasonally stronger 3Q demand • Domestic caustic soda price moment
Slide 6: Epoxy Segment Performance
Epoxy Segment Performance Sales ($M) Adjusted EBITDA ($M) $28 Actions $422 • Leverage advantaged US and EU $356 cost positions $331 $9 • US and EU price initiatives Looking Ahead • Continued weak global demand $(11) • Lower US hydrocarbon costs 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 • 4Q Freeport, TX turnaro
Slide 7: Winchester Segment Performance
Winchester Segment Performance Sales ($M) Adjusted EBITDA ($M) Actions $500 $37 $471 • Maintaining working capital $448 $33 discipline $24 • Q2 and Q3 commercial price increases offset higher metals costs Looking Ahead • Seasonal commercial demand 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 strength in 3Q Sequent
Slide 8: Financial Highlights
Financial Highlights Bond Maturity Profile1 ($M) Highlights • Working capital expected to be flat year-over-year2 • Cash-free tax year, plus or minus ~$20 million $669 $683 • On track to deliver $100-120M Beyond250 savings $515 Cash Positions • Cash on hand (6/30/2026): $177.4M • Available liquidity
Slide 9: 3Q26 Outlook
3Q26 Outlook • Higher caustic, EDC and water treatment volumes CAPV • Continued weak EDC pricing • Improved domestic caustic pricing offset by lower export pricing • Stable volume, weak seasonal demand Epoxy • Improved margins driven by mix • Absence of 2Q FIFO benefit • Stronger seasonal commercial
Slide 10: Q&A
Q&A Oli y SOLUNIONS 2026 EARNINGS @)* \
Slide 11: Appendix
Appendix Sli ° ESSENTIAL FEET sctutions
Slide 12: 2Q26 vs. 1Q26 Adjusted EBITDA Bridge ($M)
2Q26 vs. 1Q26 Adjusted EBITDA Bridge ($M) $6 $191 $13 $19 + Lower costs + Improved from mark-to- $67 commercial market on stock- + Higher Epi volume pricing and based and pricing volume compensation + Higher pricing, + Higher partially offset by International higher raw Military sales $86 material c
Slide 13: Beyond250 Drives Meaningful Structural Cost Savings
Beyond250 Drives Meaningful Structural Cost Savings Projected Beyond250 Investor Day Annual Added Savings Actions Underway Targets $250+ $50-60 • AI-enabled, real-time visual KPI control room dashboards driving improved yield performance CAPV $60-80 • Winchester Beyond250 kick-off of Lake City pilot
Slide 14: Outlook: Full Year 2026 Modeling Assumptions
Outlook: Full Year 2026 Modeling Assumptions Line Item Forecast ($M) Key Elements Capital Spending ~$200 Expected to be lower than 2025 levels Depreciation & Amortization ~$475 Expected to be lower than 2025 levels Non-Operating Pension Income $10 to $15 Expected to be lower than 2025 income levels
Slide 15: Delivering on Our Value Strategy
Delivering on Our Value Strategy 2Q26 Profit Contribution Index (ECU PCI) Sequential Olin Pricing Comparison 100 = Q1 2020 2Q26 vs. 1Q26 294 287 Chlorine 262 261 257 255 Caustic Soda 238 EDC 222 211 207 Index Bleach 192 191 187 186 180 172 HCl 168 167 157 153 153 148 Chlorinated Organics Aromatics 1
Slide 16: Maintenance Turnaround Expenses
Maintenance Turnaround Expenses1 Chlor Alkali Products & Vinyls ($M) Epoxy ($M) Actual 2025 Actual 2026 Forecast 2026 Actual 2025 Actual 2026 Forecast 2026 $164 $141 $47 $47 $42 $41 $40 $43 $39 $35 $34 $27 $14 $14 $9 $2 $3 $2 $5 $1 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year • CAPV – Freeport, TX et
Slide 17: Non-GAAP Financial Measures – Adjusted EBITDA
Non-GAAP Financial Measures – Adjusted EBITDA1 Olin's definition of Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is net income (loss) plus an add-back for depreciation and amortization, interest expense (income), income tax provision (benefit), other expense (inc
Slide 18: Non-GAAP Quarterly Financial Measures by Segment
Non-GAAP Quarterly Financial Measures by Segment1 Three Months Ended Three Months Ended Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 Income Income Income (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted ($ in millions) be
Slide 19: Non-GAAP YTD Financial Measures by Segment
Non-GAAP YTD Financial Measures by Segment1 Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Income (Loss) Reconciling Depr and Adjusted Income (Loss) Reconciling Depr and Adjusted ($ in millions) before Taxes Items Amort EBITDA before Taxes Items Amort EBITDA Chlor Alkali Products & Vi