Slide 1: Perimeter Solutions Q3 2025 Earnings
Perimeter Solutions, Inc. Q3 2025 Earnings October 30, 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 (“we,” “us,” “our” or the “Company”) expectations, intentions and projections regar
Slide 3: Three Elements Achieves Purpose
Three Elements Achieves Purpose Exceptional Value Creation Our Decentralization Product Lines Strategy Purpose Fire Safety / Operational Value Drivers Operating Autonomy Fulfill Mission Specialty Products ▪ Profitable New Business ▪ Mission Critical ▪ Productivity & Budget Accountability Deliver pri
Slide 4: Operational Developments: Fire Safety
Operational Developments Fire Safety 4
Slide 5: USFS Aggressive Initial Attack
USFS Aggressive Initial Attack Fire seasons have been trending longer with more extreme fire behavior, coupled with unprecedented demand for personnel and resources, which has required us to adapt over the past several years. With that in mind, we will continue to focus on safe, aggressive initial a
Slide 6: USFS Contract
USFS Contract ▪ Delivers excellent taxpayer value, including first year price decrease ▪ Expands Perimeter footprint to new full-service airbases ▪ Streamlines logistics by switching all bases to powder-based product ▪ Increases fixed service revenue, decreasing fire season variability ▪ Institutes
Slide 7: Operational Developments: Specialty Products
Operational Developments Specialty Products 7
Slide 8: Q3 2025 Financial Summary
Q3 2025 Financial Summary on Perimeter souutions Quaity Products. Exceptional Response ($000) Q3'24 Q3'25 wy YTD'24 YTD'25 wy Fire Safety Revenue 251,845 273,384 9% 375,538 430,831 15% Adjusted EBITDA 157,479 177,210 13% 212,877 264,954 24% Adjusted EBITDA Margin 63% 65% 57% 61% Specialty Products R
Slide 9: Long-Term Assumptions
Long-Term Assumptions Item Forward-Looking Assumption Interest Expense ~$40M annually Tax-deductible D&A and other ~$20-25M annually Cash Tax Rate (1) ~20-25% Capital Expenditures ~$15-30M annually Annual Change In Working Capital ~10% of revenue growth Current Basic Shares Outstanding ~147.9M (2) (
Slide 10: Capital Allocation Priorities
Capital Allocation Priorities Priority Q3 ‘25 ▪ Support our customers’ mission Capex ▪ $5.0M ▪ Drives Profitable New Business and Productivity M&A ▪ Acquiror advantage from Value Drivers implementation ▪ $12.0M Share ▪ Repurchase shares when compelling opportunities arise ▪ None Buybacks Special ▪ 1
Slide 11: Attractive Debt Profile, Ample Liquidity
Attractive Debt Profile, Ample Liquidity Maturity Schedule $800M $700M $675M Debt $600M 5% fixed rate $500M Senior Secured Notes $400M $300M $200M $100M $0M $0M $0M $0M $0M 2025 2026 2027 2028 2029 • NO financial maintenance covenants • 1.0x net debt to LTM Adjusted EBITDA of $328.6M $ • $340.6M cas
Slide 12: Appendix
Appendix
Slide 13: Incentive Alignment
Incentive Alignment Stock Options • Approximately 15.6M stock options granted to management, employees, and directors are outstanding as of September 30, 2025 • Vest over five years based on intrinsic share price growth Founders Advisory Agreement (pertaining to the EverArc Founders) • Fixed Annual
Slide 14: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted EBITDA & Adjusted EBITDA Margin The computation of Adjusted EBITDA is defined as income (loss) before income taxes plus net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recu
Slide 15: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) (1) For the three months ended September 30, 2024, $1.7 million was related to the Redomiciliation of the Company from Luxembourg to Delaware (the “Redomiciliation Transaction”) and other non-recurring Luxembourg related costs, and $0.1 million was related t
Slide 16: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Net Income and Adjusted Earnings Per Share The computation of Adjusted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income (loss) divided by adjusted diluted shares. Adjusted Net Income is defined as net income (loss) plus amortiza
Slide 17: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share - QTD (1) For the three months ended September 30, 2025, $0.6 million was related to restructuring and other non-recurring costs. For the three months ended September 30, 2024, $1.7 million was related to the Redomiciliation Trans
Slide 18: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share - YTD (1) For the nine months ended September 30, 2025, $0.4 million was related to the Redomiciliation Transaction and $1.1 million was related to restructuring and other non-recurring costs. For the nine months ended September 3
Slide 19: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Last Twelve Months (“LTM”) Adjusted EBITDA Net Debt to LTM Adjusted EBITDA 19
Slide 20: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Free Cash Flow 20
Slide 21: 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