Slide 1: First Quarter 2026 Earnings Presentation
FIRST QUARTER 2026 EARNINGS PRESENTATION May 6, 2026
Slide 2: Use of non-GAAP financial measures and forward-looking statements
Use of non-GAAP financial measures: This presentation includes certain non‐GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non‐GAAP financial measures to GAAP financial measures are provided within the Appendix to this presentation. In
Slide 3: Agenda
AGENDA 1 Recent Highlights 2 Consolidated Financial Results 3 Segment Performance 4 Outlook 5 Q&A 3
Slide 4: Recent Highlights
Keeping these bullets strategic for RECENT HIGHLIGHTS Dave’s opening; Added sub-tag line Continued execution of portfolio strategy and operational excellence Completed sale of Road Markings (Ozark) in April, crossing another milestone towards ‘New Ingevity’ Completed sale of the North Charleston ref
Slide 5: First Quarter (Q1) Consolidated Financial Performance
FIRST QUARTER (Q1) CONSOLIDATED FINANCIAL PERFORMANCE Q1 Financials (1) Performance Highlights Q1 Q1 vs PY $ in millions except percentage and per share data Net sales increase driven by annual pricing actions in Performance Materials 2026 2025 ∆% and Performance Chemicals Pavement Technologies prod
Slide 6: Q1 2026 Financial Metrics and Highlights
Q1 2026 FINANCIAL METRICS AND HIGHLIGHTS Net Debt Ratio(1) and Trailing Twelve Months (TTM) Total Adj. Free Cash Flow(1) EBITDA(1) $ in millions Return to typical cadence from seasonality in Pavement Technologies; Net Debt Ratio TTM Total Company Adj. EBITDA inventory build in Performance 15 Materia
Slide 7: Performance Materials
PERFORMANCE MATERIALS $ % $ IN MILLIONS Q1 2026 Q1 2025 VS. PRIOR VS. PRIOR Performance Highlights YEAR YEAR Net Sales 155.4 146.8 8.6 5.8% Sales grew across most regions driven by annual pricing actions and Segment EBITDA 92.0 83.5 8.5 10.2% favorable mix as consumer preferences continued to shift
Slide 8: Performance Chemicals
PERFORMANCE CHEMICALS Q1 Q1 $ % Performance Highlights(2) $ IN MILLIONS VS. PRIOR VS. PRIOR 2026 2025 YEAR YEAR Net Sales 58.3 58.9 (0.6) (1.0)% Sales were similar to the prior year; Pavement Technologies sales were Pavement Technologies 49.7 49.4 0.3 0.6% flat, as gains in price and mix were offset
Slide 9: Advanced Polymer Technologies
ADVANCED POLYMER TECHNOLOGIES $ IN MILLIONS Q1 2026 Q1 2025 $ VS. PRIOR % VS. PRIOR Performance Highlights YEAR YEAR Net Sales 44.3 42.2 2.1 5.0% Sales increased as favorable foreign exchange and higher volume more than Segment EBITDA 7.6 13.6 (6.0) (44.1)% offset declines in price due to unfavorabl
Slide 10: 2026 Full Year Outlook
2026 FULL YEAR OUTLOOK Ingevity reaffirms guidance; adjusts for sale of Road Markings 2026 Current Outlook vs. Prior Feb-26 Current Financial Metric Full Year Outlook Full Year Outlook Updates(3) to Assumptions Adj. EPS(1) $4.80 – 5.20 $4.70 – 5.20 Excludes divested Road Markings product line begi
Slide 11: Key Takeaways
KEY TAKEAWAYS Continued execution of portfolio strategy Positive momentum in the core businesses Resilient business model delivers consistently strong profitability despite uncertain macroeconomic environment Disciplined capital allocation with share repurchases ahead of plan 11
Slide 12: Thank you for your interest in Ingevity
FOR MORE INFORMATION Investors Mickey Walsh (843) 740 - 2002 Media Caroline Monahan (843) 740 - 2068 Thank you for your interest in Ingevity. 12
Slide 13: Appendix
APPENDIX 13
Slide 14: Prior Guidance and Outlook
PRIOR GUIDANCE AND OUTLOOK For Reference: 2026 FY Guidance and Considerations Provided in February 2026 Outlook Considerations Full Year Outlook Includes a full year of APT and Road Markings operating results; excludes divested Industrial Specialties Financial Metric Full Year Outlook Excludes p
Slide 15: Non-GAAP financial measures definitions
Ingevity has presented certain financial measures, defined below, which have not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and has provided a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP on the follo
Slide 16: Adjusted Earnings and Diluted Adjusted EPS Reconciliation
Adjusted Earnings and Diluted Adjusted Earnings per Share Reconciliation (GAAP to Non-GAAP) Three Months Ended March 31, In millions, except per data (unaudited) 2026 2025 Net income (loss) from continuing operations (GAAP) $ 23.4 $ 29.1 Restructuring and other (income) charges (1) 0.5 1.9 Litigatio
Slide 17: Restructuring and other (income) charges
Restructuring and other (income) charges Three Months Ended March 31, In millions 2026 2025 Work force reductions and other $ (0.3) $ 1.2 Performance Chemicals repositioning 0.8 0.7 Restructuring charges (1) $ 0.5 $ 1.9 Other (income) charges, net (1) $ — $ — Restructuring and other (income) charges
Slide 18: Adjusted EBITDA Reconciliation (GAAP to Non-GAAP)
Adjusted EBITDA Reconciliation (GAAP to Non-GAAP) Three Months Ended March 31, In millions, except percentages (unaudited) 2026 2025 Net income (loss) from continuing operations (GAAP) $ 23.4 $ 29.1 Provision (benefit) for income taxes 6.8 8.5 Interest expense, net 15.9 19.4 Depreciation and amortiz
Slide 19: Adjusted Gross Profit Reconciliation (GAAP to Non-GAAP)
Adjusted Gross Profit Reconciliation (GAAP to Non-GAAP) Three Months Ended March 31, In millions, except percentages (unaudited) 2026 2025 Gross Profit (GAAP) $ 116.4 $ 111.9 Plus: Depreciation and amortization 15.3 14.9 Adjusted gross profit (Non-GAAP) $ 131.7 $ 126.8 Net Sales (Non-GAAP) $ 258.0 $
Slide 20: Adjusted SG&A Reconciliations (GAAP to Non-GAAP)
Adjusted SG&A Reconciliations (GAAP to Non-GAAP) Three Months Ended March 31, In millions, except percentages (unaudited) 2026 2025 SG&A (GAAP) $ 40.7 $ 41.9 Research and technical expenses (GAAP) 6.7 7.0 Total SG&A (GAAP) 47.4 48.9 Less: Depreciation and amortization 7.4 9.6 Adjusted SG&A (Non-GAAP
Slide 21: Adjusted Other (income) expense, net Reconciliations
Adjusted Other (income) expense, net Reconciliations (GAAP to Non-GAAP) Three Months Ended March 31, In millions, except percentages (unaudited) 2026 2025 Other (income) expense, net (GAAP) $ 22.4 $ 4.1 Less: Impairment of license agreement 2.8 — Litigation charge 16.2 — Proxy contest charges — 7.9
Slide 22: Free Cash Flow Calculation (GAAP to Non-GAAP)
Free Cash Flow Calculation (GAAP to Non-GAAP) Three Months Ended March 31, In millions (unaudited) 2026 2025 Cash Flow from Operations (GAAP) $ (2.0) $ 25.4 Less: Capital Expenditures (GAAP) 10.3 10.0 Free Cash Flow (Non-GAAP) $ (12.3) $ 15.4 Historical Free Cash Flow Calculations (GAAP to Non-GAAP)
Slide 23: Net Debt to Adjusted EBITDA Ratio Calculation
Net Debt to Adjusted EBITDA Ratio Calculation (Non-GAAP) In millions, except ratios (unaudited) March 31, 2026 Notes payable and current maturities of long-term debt $ 121.9 Long-term debt including finance lease obligations 1,082.4 Debt issuance costs 2.8 Total Debt $ 1,207.1 Less: Cash and cash eq
Slide 24: Net Sales Comparison
Net Sales Comparison Ingevity Continuing Operations Change vs prior year In millions Prior year Net sales Volume Price/Mix Currency effect Current year Net sales Three months ended March 31, 2026 vs. 2025 $ 247.9 0.4 6.5 3.2 $ 258.0 Performance Materials Change vs prior year In millions Prior year N