Slide 1: Q4 2024 Quarterly Results and Outlook Conference Call
Q4 2024 Quarterly Results and Outlook Conference Call February 20, 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 • Met Q4 Adjusted EBITDA guidance despite ongoing market and operational headwinds in Harsco Environmental and Harsco Rail ◦ Harsco Rail performance improved sequentially; remain focused on addressing operational challenges and minimizing risks on certain contracts ◦ Clean Earth achi
Slide 4: Shift in Business Mix
SHIFT IN BUSINESS MIX (1) 2025 figures based on guidance mid-point. See tables at end of presentation for GAAP to non-GAAP reconciliations. © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 4
Slide 5: Q4 2024 Financial Summary
Q4 2024 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations • Revenues change YoY due to foreign Q4 2024 Q4 2023 CHANGE exchange translation and business Revenues, as reported 559 599 (7)% divestitures • Adjusted EBITDA change reflects $11M Income (loss) from
Slide 6: Q4 2024 Harsco Environmental
Q4 2024 HARSCO ENVIRONMENTAL • Revenues change SUMMARY RESULTS ($ MILLIONS) Q4 2024 Q4 2023 % driven by FX Revenues, as reported 240 292 (18)% translation, Operating Income – GAAP (41) 25 nmf divestitures and 1 Adjusted EBITDA - Non GAAP 41 56 (27)% 1 Adjusted EBITDA Margin - Non service levels GAAP
Slide 7: Q4 2024 Clean Earth
Q4 2024 CLEAN EARTH • Revenue increase YoY SUMMARY RESULTS ($ MILLIONS) Q4 2024 Q4 2023 % resulted from higher Revenues, as reported 241 237 2% services pricing Operating Income – GAAP 21 16 31% • Adjusted EBITDA 1 Adjusted EBITDA - Non GAAP 36 29 26% 1 Adjusted EBITDA Margin - Non increase YoY refl
Slide 8: Q4 2024 Harsco Rail
Q4 2024 HARSCO RAIL • Revenue increase YoY SUMMARY RESULTS ($ MILLIONS) Q4 2024 Q4 2023 % reflects higher Revenues, as reported 77 71 10% equipment and Operating Income – GAAP (32) (42) 24% technology volumes as Adjusted EBITDA - Non GAAP 1 2 3 (33)% well as PY contract Adjusted EBITDA Margin - Non
Slide 9: Rail Base vs. ETO Financials
1 RAIL BASE VS. ETO FINANCIALS • Demand strong within Base business for 2024 standard equipment, aftermarket parts, and Revenues contracted services Base 255 • Base Margins stable with attractive FCF ETOs 36 conversion Total 291 2 Adjusted EBITDA • ETO losses include an estimated allocation Base 30
Slide 10: 2025 Outlook – Consolidated
2025 OUTLOOK – CONSOLIDATED 2025 Outlook 2024 Actuals GAAP LOSS FROM CONTINUING $(36) - $(17) million $(119) OPERATIONS 1 ADJUSTED EBITDA $305 - $325 million $319 million GAAP DILUTED EARNINGS (LOSS) PER $(0.49) - $(0.26) $(1.55) SHARE FROM CONTINUING OPERATIONS ADJUSTED DILUTED EARNINGS (LOSS) PER
Slide 11: 2025 Segment Outlook
2025 SEGMENT OUTLOOK Down LSD (low single digits) % YoY excluding FX & divestitures; down REVENUES LDD (low double digits) % as reported 1 ADJUSTED EBITDA Down ~10% at mid-point, including FX translation & divestitures impacts DRIVERS + New contracts / sites, improvement initiatives, product volumes
Slide 12: Q1 2025 Outlook
Q1 2025 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA below prior-year quarter due to FX, $57 - 63 million divestitures, and contract exits; partially offset by improvements Adjusted diluted earnings per share 1 from continuing operations is
Slide 13: Q&A
Q&A © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 13
Slide 14: Appendix
APPENDIX © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 14
Slide 15: 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 16: 2024 Financial Summary
2024 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations 2024 2023 CHANGE • Revenues modestly higher YoY on organic basis (+3%) Revenues, as reported 2,343 2,366 (1)% • Adjusted EBITDA increased 11% on Income (loss) from Continuing (119) (84) (41)% organic ba
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended Twelve Months Ended December 31 December 31 2024 2023 202
Slide 18: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) (Continued from Previous Slide) (a) Certain strategic costs incurred at Corp
Slide 19: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS (Unaudited) Projected Projected Three Months Ending Twelve Months Ending March 31 December
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 Three Months Ended December 31, 2024: Operatin
Slide 21: 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 December 31, 2023: Operatin
Slide 22: 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 Twelve Months Ended December 31, 2024: Operati
Slide 23: 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 Twelve Months Ended December 31, 2023: Operating
Slide 24: 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 Twelve Months Ended December 31, 2021: Operati
Slide 25: 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 December 31 (In thousands) 2024 2023 Consolidated income (loss) from continuing operations $ (81,6
Slide 26: 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) Twelve Months Ended December 31 (In thousands) 2024 2023 Consolidated income (loss) from continuing operations $ (118
Slide 27: 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 Projected Three Months Ending Twelve Months Ending March 31 December 31 2025 2025 (In millions) Low High L
Slide 28: 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 Twelve Months Ended December 31 December 31 (In thousands) 2024 2023 2024 2023 Net cash provided (used) by operating act
Slide 29: 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 $ 156
Slide 30: 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, BY SEGMENT (Unaudited) Three Months Ended December 31, 2024 Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals
Slide 31: 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, BY SEGMENT (Unaudited) Twelve Months Ended December 31, 2024 Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals
Slide 32: 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) Twelve Months Ended (in millions) Organic Other Total Total revenues - December 31, 2023 $ 2,366.0 Effects on revenues: Price/volume change
Slide 33: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CHANGES IN ADJUSTED EBITDA FROM ORGANIC GROWTH (Unaudited) Three Twelve Months Months (in millions) Ended Ended Consolidated adjusted EBITDA - December 31, 2024 $ 70.2 $ 318.9 Consolidated adjusted EBITDA - December 31, 2023 77
Slide 34: © 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.