Slide 1: Q4 2024 Earnings Presentation
Q4 2024 Earnings Presentation February 4, 2025 Q4 2024 Earnings Presentation FMC CORPORATION 1
Slide 2: Safe Harbor Statement; Non-GAAP Financial Terms
Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this presentation are forward- looking statements that are based on our current views and assumptions regarding future events, future business conditions and the outlook
Slide 3: Refined View of FMC Product Portfolio
Refined View of FMC Product Portfolio Anticipates substantial growth through 2027 Core Portfolio Growth Portfolio Products with off-patent molecules including new Products under patent protection or providing new modes formulations & mixtures of action Remaining New Active Rynaxypyr® active Legacy P
Slide 4: Q4 2024 Results
Q4 2024 Results Q4 2024 Q4 2023 2024 VS. 2023 Revenue $1,224 $1,146 7% GAAP Net Income $(16) $1,096 (101)% Adjusted EBITDA1 $339 $254 33% % Revenue 27.7% 22.2% 550 bps GAAP EPS $(0.13) $8.77 (101)% Adjusted EPS1 $1.79 $1.07 67% Note: Amounts in millions of USD except for EPS Q4 2024 HIGHLIGHTS ❖ Fav
Slide 5: Q4 2024 Regional Revenue Drivers
Q4 2024 Regional Revenue Drivers Higher volume partially offset by FX headwinds and lower price REGIONAL REVENUE BRIDGE North $340 million Latin $390 million -10% YOY, America 23% YOY America 2% ex-FX 1500 $1,224 $1,146 $65 $28 $28 1000 ($42) • Strong volume growth • Modest volume growth 500 • Mid-s
Slide 6: Q4 2024 Adjusted EBITDA Drivers
Q4 2024 Adjusted EBITDA1 Drivers EBITDA1 increased 33% on volume recovery and favorable costs EBITDA1 BRIDGE $59 $91 $339 ($27) $254 ($38) ~$10M of lost EBITDA1 from GSS sale embedded in bridge components Q4 '23 Volume, Mix, Launches Price Cost FX Q4 '24 Note: Amounts in millions of USD KEY DRIVERS
Slide 7: FY 2024 Results
FY 2024 Results FY 2024 FY 2023 2024 VS. 2023 Revenue $4,246 $4,487 (5)% GAAP Net Income $342 $1,321 (74)% Adjusted EBITDA1 $903 $978 (8)% % Revenue 21.3% 21.8% (50) bps GAAP EPS $2.72 $10.53 (74)% Adjusted EPS1 $3.48 $3.78 (8)% Note: Amounts in millions of USD except for EPS FY 2024 HIGHLIGHTS ❖ Vo
Slide 8: FY 2025 Financial Outlook
FY 2025 Financial Outlook FY 2024 FY 2025 Guidance REVENUE DRIVERS • Higher volume as increase in growth portfolio • Low-to-mid-single digit price decline with the vast REVENUE $4.15 billion – offsets channel correction actions taken in many majority due to adjustments in certain “cost-plus” $4.25 $
Slide 9: Q1 2025 Financial Outlook
Q1 2025 Financial Outlook Q1 2024 Q1 2025 Guidance REVENUE DRIVERS REVENUE $750 million – • Lower volume as many countries prioritize • Mid-to-high-single digit price decline primarily due $918 $800 million reducing inventory to low levels to certain “cost-plus” contract adjustment for million • Vol
Slide 10: Successfully Completing Restructuring Program
Successfully Completing Restructuring Program KEY LEVERS TARGETS AND RESULTS ORIGINAL OBJECTIVE ACHIEVED Operating Model Changes TARGET 2024 Net P&L $50 to $75 million $165 million Spend Reduction Savings 2025 Savings Run- > $150 million > $225 million Divest Non-Core Assets Rate Restructuring essen
Slide 11: Balance Sheet and Leverage
Balance Sheet and Leverage 12/31/2024 12/31/2023 2024 vs. 2023 Gross Debt $3,365 million $3,958 million $(592) million Net Debt $3,008 million $3,655 million $(647) million TTM EBITDA1 $903 million $978 million $(75) million Gross Debt / EBITDA1 3.7x 4.0x 0.3x Net Debt / EBITDA1 3.3x 3.7x 0.4x Coven
Slide 12: Over $1 billion year-on-year improvement in 2024 Cash From Operations and Free Cash Flow
Over $1 billion year-on-year improvement in 2024 1 Cash From Operations and Free Cash Flow $614M $(524)M 1 1 2023 FCF Adj. EBITDA AP Inventory All Other CFO 2 Capex Disc. Ops. 2024 FCF 1 In Millions Q4 FY ‘24 FY ‘23 FY ’24 vs. FY ‘23 Drivers Adjusted EBITDA1 $339 $903 $978 Significant cash release f
Slide 13: 2025 Cash Flow Guidance
2025 Cash Flow Guidance $614M $300M 1 1 2 1 2024 FCF Adj. EBITDA Working Capital, Other CFO Capex Disc. Ops. 2025 FCF ’25 midpoint In Millions FY ‘25 FY ‘24 FY ’25 vs. FY ‘24 Drivers vs. ‘24 Adjusted EBITDA1 $870 - $950 $903 $7 Normalization of working capital after pronounced correction in 2024 wit
Slide 14: FMC Strategy Update
FMC Strategy Update Q4 2024 Earnings Presentation FMC CORPORATION 14
Slide 15: Building Blocks of FMC's Diamide Strategy
Building Blocks of FMC’s Diamide Strategy Access new markets Grow Growth • Launch next generation mixtures to expand pest spectrum Revenue • Penetrate new markets with improved cost position and Profit Expand treated area for lepidoptera Protect Defense • Launch solo formulations with enhanced conve
Slide 16: FMC's Diamides Portfolio
FMC’s Diamides Portfolio FMC’s diamide portfolio consists of two active ingredients with different pest spectrums and performance characteristics Primary Pests & Estimated Market Value (US$ million) Lepidoptera Whitefly Fruit Fly Leafminer Psyllid Thrips FMC Active Ingredient Positioning $4,970 $420
Slide 17: The Global Foliar Insecticide Market is Valued at $22 Billion with Diamides at ~$2 Billion
The Global Foliar Insecticide Market is Valued at $22 Billion with Diamides at ~$2 Billion Estimated Foliar Insecticide Market Size ($Bn) $9 $5 $2 $1 $5 6% 6% 5% 6% 10% Acaricide 3% 6% 7% 11% 5% Biological 6% 4% 2% 16% Carbamate 6% 7% 14% Diamide 5% 24% 1% 13% 18% Other lep 11% insecticides 4% 25% 1
Slide 18: Low-Cost Manufacturing Expected to Grow Diamide Market from ~$2 Billion to ~$5 Billion
Low-Cost Manufacturing Expected to Grow Diamide Market from ~$2 Billion to ~$5 Billion Lower priced CTPR likely to take share from older, cheaper insecticides, expanding the market Acaricide Biological Carbamate Diamide Other lep insecticides IGR Nematicide Neonic OP Other Pyrethroid Less than $10 $
Slide 19: Innovation Is Critical to Defend and Grow FMC's Diamides
Innovation Is Critical to Defend and Grow FMC’s Diamides Prioritizing innovation around four key concepts Concept FMC Benefit Grower Benefit Offer competitive pricing Less packaging, less washing, Reduce COGS through Optimize high dose formulations and positioning without less handling, preferable f
Slide 20: FMC Rynaxypyr Active Pipeline
FMC Rynaxypyr® Active Pipeline Defend and expand market through mixtures and novel solutions 2023 2024 2025 2026 2027 2028 2029 2030+ Project Concept + Bifenthrin - Premio® Star Optimize Seed Treatment Strengthen + Bifenthrin Solid Formulation Rynaxypyr® + Pheromones + Arc farm Broaden intelligence
Slide 21: FMC Cyazypyr Active Pipeline
FMC Cyazypyr® Active Pipeline Expand addressable market through optimizing cost and enhancing spectrum of control 2023 2024 2025 2026 2027 2028 2029 2030+ Project Concept New Formulation Optimize High Concentration Strengthen Cyazypyr® Fruit Fly Bait + Group 29 Insecticide Broaden + Group 4A Insecti
Slide 22: Strong Expected Growth in New Molecules from Additional Registrations, Increased Adoption
Strong Expected Growth in New Molecules from Additional Registrations, Increased Adoption Fluindapyr (fungicide) Isoflex active (herbicide) 2025 Selling: Brazil, Argentina, USA, 2025 Selling: Brazil, Argentina, India, Further Mexico, South Korea, Paraguay, Colombia, growth in ~$600M Australia, China
Slide 23: 2027 Financial Targets
2027 Financial Targets Improvement in 2027 sales and adjusted EBITDA1 expected to be driven by substantially higher sales in Growth portfolio with a solid foundation provided by Core portfolio Core Portfolio Growth Portfolio Products with off-patent molecules including new Products under patent prot
Slide 24: Appendix
Q4 2024 Earnings Presentation FMC CORPORATION 24
Slide 25: Modeling Assumptions for 2025
Modeling Assumptions for 2025 Appendix $210 million - 13 – 15 $1 million – $2 Revenue: ($110) million EBITDA1: ($25) million $230 million percent million INTEREST EXPENSE NON-CONTROLLING INTEREST 2025 EXPECTED GSS LOSS OF ADJUSTED TAX RATE1 CONTRIBUTION ~125.6 $175 million – $200 million - $105 – $1
Slide 26: Q4 2024 Adjusted EPS Variance
Q4 2024 Adjusted EPS1 Variance $1.07 $0.59 $0.11 $0.03 $(0.01) $1.79 Q4 ’23 Adj. EBITDA1 TAXES INTEREST EXPENSE OTHER Q4 ’24 • EBITDA1 higher • Lower rate • Reflects • Minority additional debt Interest, D&A $3.78 $(0.51) $0.14 $0.05 $0.02 $3.48 FY ’23 Adj. EBITDA1 TAXES D&A OTHER Q4 ’24 • Lower EBIT
Slide 27: FY 2024 Regional Revenue Drivers
FY 2024 Regional Revenue Drivers Revenue down 5%, down 3% organically1 REGIONAL REVENUE BRIDGE North $1,173 million Latin $1,390 million (-1% YOY, America (-3% YOY) America +5% ex-FX) $4,487 $4,246 ($32) ($11) ($133) ($64) • Strong volume growth following • Volume growth including in branded channel
Slide 28: FY 2024 Adjusted EBITDA Drivers
FY 2024 Adjusted EBITDA1 Drivers Lower costs and higher volume more than offset by lower price EBITDA1 BRIDGE $978 $11 $139 $22 $903 ($247) FY '23 Volume, Mix, Launches Price Cost FX FY '24 Note: Amounts in millions of USD KEY DRIVERS AT A GLANCE Volume, Mix, Launches Cost • Higher volume driven by
Slide 29: Additional Disclaimers
Additional Disclaimers Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. No offer for sale, sale, or use of any such products is permitted prior to the issuance of t
Slide 30: Q4 2024 Earnings Presentation FMC CORPORATION
Copyright © 2025, FMC Corporation. All Rights Reserved. Q4 2024 Earnings Presentation FMC CORPORATION 30