Slide 1: Fourth Quarter / Full Year Results 2025
Fourth Quarter / Full Year Results 2025 Analyst presentation Investor Relations 26.02.2026
Slide 2: Disclaimer
2 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Disclaimer This presentation contains certain statements that are the Company’s ability to continue to receive adequate neither reported financial results nor other historical products from its vendors on acceptable terms, or a
Slide 3: FY 2025 Group performance
FY 2025 Group performance
Slide 4: Continued progress on purpose-led growth strategy
4 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Continued progress on purpose-led growth strategy “Greater chemistry – between people and planet” 1 2 3 4 Customer Innovative Leading in People focus chemistry sustainability engagement Innovation sales Scope 1 & 2 eNPS cNPS [
Slide 5: Highlights FY 2025 Key messages
5 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Highlights FY 2025 Key messages Flat Sales of CHF 3 915 m – flat local currencies’ sales growth in challenging macroeconomic environment 42 % stable vs. 2024 vs. 32 % in 2024 180 bps EBITDA b.e.i.1 margin improvement driven by
Slide 6: FY 2025 sales: flat LC growth with strong price management
6 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 FY 2025 sales:1 flat LC growth with strong price management across the Group in slightly deflationary environment 0% -6% 4 152 4 145 0% -1% 1% -1% - 5% 3 915 Care Chemicals flat Care Chemicals - 1 % Lucas Meyer Net impact on Ma
Slide 7: FY EBITDA b.e.i.: margin increase of 180 bps
7 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 FY EBITDA b.e.i.:1 increase of margin by 180 bps, driven by performance improvement programs and cost productivity across entire organization Margin + 180 bps 697 + 20 bps + 30 bps 17.8 % + 70 bps 663 + 60 bps Slightly lower vo
Slide 8: FY 2025 cash conversion: achieving 2027 targets
8 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 FY 2025 cash conversion: achieving 2027 targets, driven by disciplined Capex management and stable operating cash flow + 31 % 273 76 - 75 63 209 Free cash flow1 conversion2 ✓ Disciplined Capex Effective cost Elevated working ma
Slide 9: Performance improvement program set to deliver CHF 80 m by 2027
9 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Performance improvement program (Investor Day 2024) set to deliver CHF 80 m by 2027 Q1: CHF 3 m Run-rate savings of CHF 80 m through BU Program Q2: CHF 9 m and Corporate actions by 2027 with 63 % contribution already achieved i
Slide 10: Q4 2025 Business performance
Q4 2025 Business performance
Slide 11: Q4 sales: Catalysts and Care Chemicals driving volume growth
11 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Q4 sales:1 Catalysts and Care Chemicals driving volume growth – strong pricing management in deflationary environment +1% -7% 1 091 1 103 0% 1% 0% -1% - 6% 1 028 Care Chemicals - 1 %, Care Chemicals + 2 % No impact Net impact
Slide 12: Q4 EBITDA b.e.i.: 240 bps margin improvement
12 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Q4 EBITDA b.e.i.:1 240 bps margin improvement driven by Catalysts and Care Chemicals Margin + 240 bps 176 + 0 bps + 10 bps + 120 bps 17.1 % + 110 bps 160 14.7 % Slightly higher Higher volume, Slightly lower volume volume, posi
Slide 13: Fourth Quarter 2025 Care Chemicals
13 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Fourth Quarter 2025 Slight growth with strong margin Care Chemicals improvement Sales1 (in CHF m) +1% -6% – Price: Slightly down due to formula-based pricing in 560 565 industrial segments Base Chemicals and Industrial - 1% 2%
Slide 14: Fourth Quarter 2025 Catalysts
14 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Fourth Quarter 2025 Strong volume increase and Catalysts margin improvement Sales1 (in CHF m) +5% -2% – Refill cycle provided expected strong exit in Q4 271 285 0% 5% 0% - 7% 265 – Price: overall flat with slightly positive pr
Slide 15: Fourth Quarter 2025 Adsorbents & Additives
15 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Fourth Quarter 2025 Softer top-line with stable margin Adsorbents & Additives Sales (in CHF m) -3% -8% – Price: Slightly up with Coatings & Adhesives and 260 0% 253 Adsorbents Americas offsetting slightly lower pricing in the
Slide 16: Group Outlook
LARIANT Greater chemistry -
Slide 17: Outlook 2026: ongoing self-help margin improvement and limited growth
17 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Outlook 2026: ongoing self-help margin improvement and limited growth in a prolonged challenging macroeconomic environment 2025 actual External factors Internal factors 2026 guidance – Macroeconomic challenges, – Portfolio pru
Slide 18: Appendix
- CLARIANT™ :
Slide 19: Stable regular distribution of CHF 0.42 per share proposed
19 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Stable regular distribution of CHF 0.42 per share proposed based on operational 2025 performance Distribution in CHF per share / year of payout 3.001 – The Board of Directors (BoD) recommends a regular distribution of CHF 0.42
Slide 20: Modeling guidance FY 2026 versus FY 2025
20 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Modeling guidance FY 2026 versus FY 2025 • Divestments and closures create a negative top-line impact of 1 % (Group) and Portfolio pruning 2 % (Care Chemicals) to 2026 sales • Slight underlying growth in Care Chemicals (catchi
Slide 21: Fourth Quarter 2025 – Overview
21 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Fourth Quarter 2025 – Overview Group Care Chemicals in CHF m Q4 2025 Q4 2024 % CHF % LC1 in CHF m Q4 2025 Q4 2024 % CHF % LC1 Sales 1 028 1 091 -6 1 Sales 525 560 -6 1 EBITDA 193 179 8 EBITDA 109 90 21 EBITDA margin 18.8 % 16.
Slide 22: Full Year 2025 – Overview
22 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 – Overview Group Care Chemicals in CHF m FY 2025 FY 2024 % CHF % LC1 in CHF m FY 2025 FY 2024 % CHF % LC1 Sales 3 915 4 152 -6 0 Sales 2 112 2 242 -6 0 EBITDA 643 657 -2 EBITDA 386 403 -4 EBITDA margin 16.4 % 15
Slide 23: Full Year 2025 – Consolidated Income Statement Highlights
23 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 – Highlights Consolidated Income Statement CHF m 2025 2024 – Gross margin stable around 30 %, lower volume and CHF m % CHF m % Sales 3 915 100.0 4 152 100.0 higher energy vs. lower raw materials Costs of goods s
Slide 24: Full Year 2025 – Cash Flow Statement Highlights
24 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 – Highlights Cash Flow Statement CHF m 2025 2024 Net income / loss - 41 280 Adjustment for: Depreciation and amortization 252 247 – Net cash generated from operating activities around prior Impairment and revers
Slide 25: Full Year 2025 – Balance Sheet
25 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 – Balance Sheet 31.12.2025 31.12.2024 31.12.2025 31.12.2024 ASSETS CHF m % CHF m % EQUITY AND LIABILITIES CHF m % CHF m % Non-current assets Equity Property, plant, and equipment 1 357 1 524 Share capital 445 58
Slide 26: Geographic split
26 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Geographic split Q4 sales CHF 1 028 m FY sales CHF 3 915 m in CHF m, % in local currency1 in CHF m, % in local currency1 Asia-Pacific Asia-Pacific 1 135 / - 1 % 329 / + 3 % China 403 / - 14 % China 112 / - 23 % BU2 Q4 sales BU
Slide 27: EBITDA / EBIT Bridge Full Year 2025
27 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 EBITDA / EBIT Bridge Full Year 2025 Group (CHF m) Care Chemicals (CHF m) EBITDA Exceptional Exceptional EBITDA Exceptional Exceptional bei items EBITDA D&I1 EBITA Amortization EBIT items EBIT bei bei items EBITDA D&I1 EBITA Am
Slide 28: ROIC vs. cost of capital
28 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 ROIC vs. cost of capital Future improvement drivers ROIC1 in % 3 10.6 % 9.9 % 4 Cost of 9.5 % 9.2 % 7.7 % 2 capital: − Organic growth 7.4 % ~ 8.5 % 6.9 % − Increasing operating margin 6.6 % − Reducing non operating cost (repor
Slide 29: Cost dynamics – pricing and volumes stable
29 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Cost dynamics – year on year and Pricing and volumes stable sequentially mixed around the flat line − Raw materials in Q4 down 2 % yoy (sequential down 1 %) − Low-growth economic environment maintained in Q4 2024 − Energy in Q
Slide 30: Exposure to attractive consumer markets of close to 50 %
30 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Exposure to attractive consumer markets of close to 50 %... …with accelerating demand for sustainable products Sales by end market 2021 (Total Group) Sales by end market FY 2025 Chemical Chemical Process Process Consumer (Cata
Slide 31: ESG – Clariant’s sustainability transformation commitment
31 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 ESG – Clariant’s sustainability transformation commitment Sustainability priorities Investment in operations and portfolio Fighting climate change Increasing circularity Sustainable operations Reducing our own carbon Products
Slide 32: Clariant’s leading sustainability ratings and rankings
32 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Clariant’s leading sustainability ratings and rankings Status as of February 2025 Index / Ranking / Clariant Score / Percentile First year of Status / Comments Rating Rank or Range inclusion 29 % 21 % 13 % 15 % 10 % AA / Range
Slide 33: Disciplined Capex underpins continued growth and cash conversion
33 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Disciplined Capex underpins continued growth and cash conversion1 − Capex includes investments in property, plant, and equipment as well as investments in intangible assets − Growth investment phase until 2021, followed by dis
Slide 34: Debt maturity profile as of 31 December 2025
34 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Debt maturity profile as of 31 December 2025 Broad and balanced funding mix Smooth maturity profile with no significant towers Ample set of refinancing tools available Liquidity2 Financial debt (interest bearing) maturities in
Slide 35: Full Year 2025 Top 20 chemicals in percentage of raw material cost
35 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 Top 20 chemicals in percentage of total raw material cost TOP 5 CHEMICALS TOP 6 - 20 CHEMICALS 1 Ethylene 6 Bentonite 2 Ethylene Oxide 7 Aluminium Oxide 3 Propane-1,2-diol 8 Phosphinic Acid, sodium salt, hydrate
Slide 36: Significant improvement of non-financial KPIs
36 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Significant improvement of non-financial KPIs – fully on track to deliver updated 2030 greenhouse gas (GHG) targets Reducing corporate GHG emissions New operating model driving customer satisfaction and 46.9 % reduction employ
Slide 37: Full Year 2025 – Sales and cost structure (indicative)
37 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Full Year 2025 – Sales and cost structure (indicative) Global sales distribution * Global cost distribution ** in % in % Other 10 % JPY Other JPY 4% 15 % 2% BRL EUR 4% 35 % BRL 5% EUR 28 % INR INR 5% 6% CNY 8% CNY 8% USD USD 3
Slide 38: Calendar of upcoming corporate events
38 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 Calendar of upcoming corporate events 27 February 2026 8 May 2026 3 November 2026 Integrated Report First Quarter Third Quarter / 2026 Reporting Nine Month 2026 Reporting 26 February 2026 1 April 2026 31 July 2026 Fourth Quart
Slide 39: The Executive Leadership Team
39 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 The Executive Leadership Team Conrad Keijzer Chief Executive Officer Executive Leadership Team Executive Steering Committee Christian Vang Marcelo Lu Jens Cuntze Angela Cackovich Oliver Rittgen Priya Thaman Judith Bischof Rich
Slide 40: IR contacts
40 Fourth Quarter / Full Year Results 2025 Investor Relations, 26.02.2026 IR contacts ANDREAS SCHWARZWÄLDER Head of Investor Relations Phone: +41 61 469 63 73 Email: investor-relations@clariant.com THIJS BOUWENS Investor Relations Officer Phone: +41 61 469 63 73 Email: investor-relations@clariant.co
Slide 41: Thank you
Thank you We place great value on understanding the current views of our investment community. Therefore, we would greatly appreciate your input and feedback via www.clariant.com/Investors/Feedback. Your information will be collected via the secure platform of QuantiFire, who manages this process on