Solstice Advanced Materials Inc. · NASDAQ:SOLS
Solstice Advanced Materials — Q4 2025 Earnings Presentation
25 slides from Solstice Advanced Materials's earnings presentation, Feb 11, 2026
Slide 1: Fourth Quarter 2025 Financial Results
February 11, 2026 Fourth Quarter 2025 Financial Results © 2026 Solstice Advanced Materials Inc.
Slide 2: Forward-Looking Statements & Other Disclaimers
Forward-Looking Statements & Other Disclaimers This presentation contains “forward-looking statements” within the meaning of the federal securities laws made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve substant
Slide 3: Fourth Quarter 2025 Highlights
Fourth Quarter 2025 Highlights Successful spin-off completed on Oct. 30th with accelerating momentum as an independent public company Better-than-anticipated results, reflecting demand for Solstice’s differentiated product portfolio and strong execution Top-tier return profile and conservative lever
Slide 4: Solstice is Well-Aligned to Support U.S. Nuclear Renaissance
Solstice is Well-Aligned to Support U.S. Nuclear Renaissance Metropolis Works is the only uranium hexafluoride (UF6) conversion facility in the U.S. Expansion of Metropolis Conversion to 10+ kt/yr in 2026 • Anticipating ~20% higher production in 2026 vs. 2024 planned levels • Higher production outpu
Slide 5: Full Year 2025 Consolidated Results
Full Year 2025 Consolidated Results Consolidated Financial Highlights Key Takeaways ($ in millions) FY 2025 FY 2024 % Change Full year Net Sales growth of 6% excluding opportunistic Nuclear (AES) sales in 20242 Net Sales $3,886 $3,770 3% RAS Net Sales growth driven by 16% YoY increase in Refrigerant
Slide 6: Fourth Quarter 2025 Consolidated Results
Fourth Quarter 2025 Consolidated Results Consolidated Financial Highlights Key Takeaways ($ in millions) 4Q’25 4Q’24 % Change Strong YoY Net Sales growth driven by Nuclear (AES), Electronic Materials, and Refrigerants Net Sales $987 $913 8% RAS Net Sales growth driven by 39% YoY increase in Nuclear
Slide 7: Net Sales and Adjusted Standalone EBITDA Bridges
Net Sales and Adjusted Standalone EBITDA Bridges 1 1 Net Sales (Change in Net Sales) Adj. Standalone EBITDA (Change in Adj. EBITDA) ($ in millions and as a % of Net Sales) ($ in millions) • Organic Net Sales growth1 of 6% YoY • Transitory costs and downtime impacts largely consistent with 3Q earning
Slide 8: Fourth Quarter 2025 Refrigerants & Applied Solutions Results
Fourth Quarter 2025 Refrigerants & Applied Solutions Results Financial Results RAS Net Sales ($ in millions) ($ in million) 4Q’25 4Q’24 % Change Refrigerants $367 $307 20% 31 (9) (17) Nuclear (AES) 111 80 39% 60 710 Building Solutions & Intermediates 181 190 (5)% 646 Healthcare Packaging 52 69 (25)%
Slide 9: Fourth Quarter 2025 Electronic & Specialty Materials Results
Fourth Quarter 2025 Electronic & Specialty Materials Results Financial Results ESM Net Sales ($ in millions) ($ in million) 4Q’25 4Q’24 % Change Electronic Materials $112 $94 19% 18 (5) (4) 277 Safety & Defense Solutions 43 48 (10)% 267 Research & Performance 121 125 (3)% Chemicals Net Sales 277 267
Slide 10: Balance Sheet and Capital Management
Balance Sheet and Capital Management Cash Flow Highlights Capital Structure (Twelve Months Ended December 31, 2025) (As of December 31, 2025) • Capital Expenditures of $408 million Term Loan B • Adjusted Standalone EBITDA – Capex1 of $549 million $1 billion (SOFR + 175 bps) • Cash Conversion1 of 57%
Slide 11: Financial Guidance
Financial Guidance 1Q’26E 2026E Net Sales $935 - $985 Net Sales $3,900 - $4,100 ($ in millions) ($ in millions) Adjusted EBITDA1 $235 - $245 Adjusted EBITDA1 $975 - $1,025 ($ in millions) ($ in millions) ~25% Adj. EBITDA Margin Adjusted Diluted EPS1,2 $2.45 - $2.75 Capital Expenditures ($ in million
Slide 12: Key Takeaways
Key Takeaways Well-positioned to deliver on full-year 2026 guidance Implementing fit-for-purpose strategy to unlock full growth potential Well-aligned to strong secular trends areas such as nuclear, high-performance computing, data centers, and defense spending Investing in high-growth businesses su
Slide 13: Appendix
Appendix
Slide 14: Additional Full Year 2026 Modeling Considerations
Additional Full Year 2026 Modeling Considerations ($ in millions, unless otherwise noted) 2026E Other Considerations Depreciation and Amortization Expense $220 - $240 Strong demand expected to continue in Low-GWP Refrigerants, Electronic Materials, and Nuclear Net Interest Expense $140 - $145 Intere
Slide 15: Consolidated Statement of Operations
Consolidated Statement of Operations For The Three Months Ended For The Year Ended December 31, December 31, ($ in millions) 2025 2024 2025 2024 Product sales $900 $832 $3,587 $3,453 Service sales 87 81 299 317 Net sales 987 913 3,886 3,770 Costs, expenses and other Cost of products sold 674 540 2,4
Slide 16: 2025 Segment Financials
2025 Segment Financials For The Year Ended For The Three Months Ended, December 31, ($ in millions) March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 2025 Refrigerants & Applied Solutions Net Sales Refrigerants $326 $418 $400 $367 $1,511 Building Solutions and Intermediates 183 181 1
Slide 17: Reconciliation of Organic Sales Percentage
Reconciliation of Organic Sales Percentage For The Three Months Ended December 31, 2025 vs. 2024 Total % Change in Net Sales 8% Foreign Currency Translation (2)% Acquisitions, Divestitures and Other, Net - Organic Sales Percentage 6% 17
Slide 18: Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA
Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA For The Three Months Ended For The Year Ended December 31, December 31, ($ in millions) 2025 2024 2025 2024 Net (loss) income attributable to Solstice Advanced Materials $41 $133 $237 $594 Net income (loss) attributable to noncontrolling
Slide 19: Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA (Continued)
Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA (Continued) For The Three Months Ended, ($ in millions) March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 Net (loss) income attributable to Solstice Advanced Materials $136 $94 $(35) $41 Net income (loss) attributable to n
Slide 20: Reconciliation of Adjusted Standalone EBITDA
Reconciliation of Adjusted Standalone EBITDA For The Three Months Ended For The Year Ended December 31, December 31, ($ in millions) 2025 2024 2025 2024 Refrigerants & Applied Solutions (RAS) $710 $646 $2,789 $2,721 Electronic & Specialty Materials (ESM) 277 267 1,097 1,049 Total Net Sales 987 913 3
Slide 21: Reconciliation of Adjusted Standalone EBITDA – Capex and Calculation of Cash Conversion
Reconciliation of Adjusted Standalone EBITDA – Capex and Calculation of Cash Conversion For The Year Ended December 31, ($ in millions) 2025 2024 Adjusted Standalone EBITDA (Non-GAAP) $957 $995 Less: Total capital expenditures incurred 408 296 Adjusted Standalone EBITDA - Capex (Non-GAAP) 549 699 Ca
Slide 22: Capitalization Table
Capitalization Table ($ in millions) December 31, 2025 Debt Term Loan B due 2032 $986 Unsecured Senior Notes due 2033 986 Total Debt 1,972 Less: Cash and Cash Equivalents 534 Net Debt (Non-GAAP) 1,438 Adjusted Standalone EBITDA (Non-GAAP) 957 Total Leverage Ratio (Non-GAAP) 2.1 x Net Leverage Ratio
Slide 23: Return on Invested Capital
Return on Invested Capital For The Year Ended ($ in millions) December 31, Net Income (GAAP) $285 Income tax expense 362 Depreciation 191 Amortization 29 Other adjustments (41) Stock compensation expense 27 Interest and other financial charges 28 Transaction costs 117 Asset retirement obligation acc
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses non-GAAP financial measures to supplement the financial measures prepared in accordance with U.S. GAAP. These include (1) Organic sales percentage, (2) Adjusted EBITDA, (3) Adjusted EBITDA Margin, (4) Adjusted Standalone EBITDA, (5) Adjusted Standalone EB
Slide 25: © Solstice
© Solstice
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