Slide 1: Perimeter Solutions, Inc. Q4 2024 Earnings
Perimeter Solutions, Inc. Q4 2024 Earnings February 20, 2025
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation and discussion are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on Perimeter Solutions, Inc.’s (the “Company”) expectations, intentions and projections regarding the Company’s fu
Slide 3: Our Objective
Our Objective Exceptional Value Creation Our Businesses Strategy Goal Retardants/Suppressants/ Operational Value Drivers Fulfill our Mission Specialty Products Profitable New Business Mission Critical Function Productivity & Cost Improvement Deliver private-equity like Market Leadership Posi
Slide 4: Our Product Lines
Our Product Lines (1) (1) (1) Fire Retardants (63%) Fire Suppressants (15%) Specialty Products (22%) • Retardant slows, stops and prevents • Foam primarily used to fight flammable • P2S5 reduces wear / improves durability wildfire, typically applied via airtankers liquid fires (airports, refineries,
Slide 5: Adjusted EBITDA Growth Track-Record
Adjusted EBITDA Growth Track-Record Adjusted EBITDA ($M) $300M $280 $250M $200M $150M $136 $141 $127 $125 $114 $97 $100M $85 $70 $59 $57 $62 $43 $48 $50M $25 $0M 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 US Acres ex-AK (M) 8.9 9.1 10.1 10.0 8.4 8.2 8.2 6.9 4.9 5.0 4.
Slide 6: What It Takes: Los Angeles Wildfires Response
What It Takes: Los Angeles Wildfires Response Fox/Lancaster ATB Santa Maria ATB McClellan ATB (Sacramento) Perimeter Resources 6 airtanker bases 3 portable bases + local manufacturing facility Eaton MRB Agency Resources PRM Production 80+ air tankers & helicopters Facility San Bernadino ATB Channel
Slide 7: Capital Allocation Priorities
Capital Allocation Priorities Priority Support our customers’ mission Capex Drive Profitable New Business and Productivity through high-return projects M&A Acquiror advantage stems from Value Drivers implementation Share Repurchase shares when presented with compelling opportunities Buybacks
Slide 8: Q4 and FY 2024 Financial Summary
Q4 and FY 2024 Financial Summary 8
Slide 9: Normalized Fire Season Framework
Normalized Fire Season Framework US Acres Burned ex-Alaska 8,000,000 7,000,000 5 yr avg: 6.4M 10 yr avg: 6.1M 6,000,000 5,000,000 Low- to mid-single digit growth 4,000,000 6-7M acres normalized 3,000,000 2,000,000 1,000,000 0 5 Yr Rolling Avg Linear (5 Yr Rolling Avg) 9
Slide 10: Earnings Per Share
Earnings Per Share See Appendix for reconciliations between our GAAP and Non-GAAP Measures. The Company has provided Adjusted EPS information for all quarterly and year-to-date periods in 2024 in the Appendix and will begin presenting comparative periods in 2025. 10
Slide 11: Long-Term Assumptions
Long-Term Assumptions Item Forward-Looking Assumption Interest Expense ~$40M annually Depr, Amort and Other Tax Deductions ~$20-25M annually Cash Tax Rate (1) ~20-25% Capital Expenditures ~$15-20M annually Annual Change In Working Capital ~10% of revenue growth Current Basic Shares Outstanding ~147.
Slide 12: Attractive Debt Profile, Ample Liquidity
Attractive Debt Profile, Ample Liquidity $800M Maturity Schedule $700M $675M $600M Debt $500M 5% fixed rate Senior Secured Notes $400M $300M $200M $100M $0M $0M $0M $0M $0M $0M 2024 2025 2026 2027 2028 2029 • NO financial maintenance covenants • Ending 1.7x net debt to Adjusted EBITDA $ Liquidity •
Slide 13: Appendix
9 Sey “i ey é -/ 4 7 7 a Solutions That Save.
Slide 14: Incentive Alignment
Incentive Alignment Stock Options • Approximately 15.1M stock options granted to management, employees, and directors are outstanding as of December 31, 2024 • Vest over five years based on intrinsic share price growth Founders Advisory Agreement (pertaining to the EverArc Founders) • Fixed Annual A
Slide 15: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted EBITDA The computation of Adjusted EBITDA is defined as net income (loss) plus income tax expense, net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recurring, unusual or non
Slide 16: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) (1) For the three months ended December 31, 2024, $4.4 million was related to the Redomiciliation Transaction and other non-recurring Luxembourg related costs and $0.6 million was related to acquisition costs. For the three months ended December 31, 2023, $2
Slide 17: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share The computation of Adjusted Earnings Per Share ("Adjusted EPS") is defined as adjusted net income divided by adjusted diluted shares. Adjusted net income is defined as net income plus amortization, certain non-recurring, unusual o
Slide 18: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share 18
Slide 19: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share 19
Slide 20: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share 20
Slide 21: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share 21
Slide 22: Reconciliation of Non-GAAP Information
Reconciliation of Non-GAAP Information Non-GAAP Financial Metrics Adjusted EBITDA The computation of Adjusted EBITDA is defined as net income plus income tax expense, net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recurrin
Slide 23: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Net Debt to Adjusted EBITDA 23
Slide 24: Thank You!
Thank You! NOTICE: Although the information and recommendations set forth herein (hereinafter “Information”) are presented in good faith and believed to be correct as of the date hereof, Perimeter Solutions/Solberg/Auxquimia (the “Company”) makes no representations or warranties as to the completene