Slide 1: 2025 Full Year Results
For Nature with Nature 2025 FULL YEAR RESULTS 25 March 2026
Slide 2: Cautionary Statement and Disclaimer
Cautionary Statement and Disclaimer These slides have been prepared by Itaconix plc (the “Company”) solely for your information and for use as a presentation for the Company's own internal research and estimates based on the knowledge and experience of the Company's management the purpose of providi
Slide 3: Itaconix: John R Shaw, Chief Executive Officer
ITACONIX For Nature with Nature® JOHN R SHAW CHIEF EXECUTIVE OFFICER 2025 Full Year Results Presentation | 24 March 2026
Slide 4: Plant-Based Functional Ingredients for Everyday Products
For Nature with Nature® PLANT-BASED FUNCTIONAL INGREDIENTS FOR EVERYDAY PRODUCTS Itaconix Plant-Based Itaconic High-Value Use in Feedstock Acid Functional Everyday Products Polymers 2025 Full Year Results Presentation | 24 March 2026 4
Slide 5: Itaconix Ingredients Large Addressable Markets
For Nature with Nature® ITACONIX INGREDIENTS LARGE ADDRESSABLE MARKETS Current Addressable Market $2.3B First Revenue Stage Decades of Potential ITACONIX TECHNOLOGY PLATFORM Scale Odour Specialty ingredients from itaconic acid Paints & Water Inhibition Neutralisation Coatings Absorption Also hair st
Slide 6: Itaconix Ingredients: First Revenue Stage to Future Growth
For Nature with Nature® ITACONIX INGREDIENTS FIRST REVENUE STAGE TO FUTURE GROWTH Current Addressable Market $2.3B First Revenue Stage Decades of Potential ITACONIX TECHNOLOGY PLATFORM Specialty ingredients from itaconic acid Itaconix® Performance Ingredients Specialty Monomers & Binders SPARX Formu
Slide 7: Itaconix plc at a Glance
For Nature with Nature® ITACONIX PLC AT A GLANCE In 200+ 6 Ingredient 18 Patent Consumer Classes Families Products Global US Production 30+ Employees Regulatory since 2009 in US & EU Approvals 2025 Full Year Results Presentation | 24 March 2026 7
Slide 8: 2025 Highlights
2025 HIGHLIGHTS ltacdnix
Slide 9: Highlights: 2025 Financials
For Nature with Nature® HIGHLIGHTS 2025 FINANCIALS Record revenues Record gross profits Improved Adjusted EBITDA Strong cash position 2025 Full Year Results Presentation | 24 March 2026 9
Slide 10: Highlights: 2025 Key Performance Indicators
For Nature with Nature® HIGHLIGHTS 2025 KEY PERFORMANCE INDICATORS 1. Expanded EMEA scale inhibition revenues 2. Re-landed North American scale inhibition revenues 3. Landed & expanded North American odour neutralisation revenues 4. Initial BIO*Asterix traction 2025 Full Year Results Presentation |
Slide 11: Highlights: To Complete First Revenue Stage
For Nature with Nature® HIGHLIGHTS TO COMPLETE FIRST REVENUE STAGE » Major EMEA unit dose detergent accounts » North American dish detergent capsules » North American dish detergent tablets 2025 Full Year Results Presentation | 24 March 2026 11
Slide 12: 2025 Financials
2025 FINANCIALS LAURA DENNER CHIEF FINANCIAL OFFICER 2025 Full Year Results Presentation | 24 March 2026
Slide 13: Financial Performance Dashboard
Financial Review FINANCIAL PERFORMANCE DASHBOARD GROSS PROFIT ADJUSTED EBITDA SALES $10.5m $3.6m ($0.6m) Up 61% from 2024 Up 61% from 2024 Improved from ($1.8m) in 2024 NET CASH & INVESTMENTS GROSS PROFIT MARGIN WORKING CAPITAL $4.4m 35% $5.1m $6.7m at 31-Dec-24 In line with FY 24 94 days 2025 Full
Slide 14: Performance Ingredients Driving Revenues and Profits
Financial Review PERFORMANCE INGREDIENTS DRIVING REVENUES AND PROFITS Itaconix® SPARX BIO*Asterix® TOTAL Performance Formulated Building Ingredients Solutions Blocks Revenues $10.5m $7.6m $2.9m - 2024 +61% 2025 +60% +65% Gross profit margin % 35% 41% 17% 2025 Full Year Results Presentation | 24 Marc
Slide 15: Revenue Growth Led by Land & Expand Customers
Financial Review REVENUE GROWTH LED BY 4 “LAND & EXPAND” CUSTOMERS $10.5M NA contract tableter (13%) » “Land and expand” selling is working in both North America and EMEA NA contract formulator and blender (15%) » Sustained growth with three $6.5M customers expanded and new customer launch in H2 202
Slide 16: Diverse Revenue Base from CMOs and Work with Brands
Financial Review DIVERSE REVENUE BASE FROM CMO’S AND WORK WITH BRANDS $10.5M Brands » 76% of 2025 revenues came from Partners & contract manufacturers that Distributors $8.0M produce detergents for brands NA brand at CMO (15%) NA brand at multiple CMOs » Direct work with brands and (13%) contract ma
Slide 17: Adjusted EBITDA: Major Step Toward Profitability
Financial Review ADJUSTED EBITDA MAJOR STEP TOWARD PROFITABILITY ($1.8m) ($0.6m) $1.4m $(0.2m) » Made significant strides on reducing Adjusted EBITDA losses led by $1.4M increase in Gross Profit » Operating Expenses remained consistent with a modest increased of $0.2M from 2024 to 2025 as our operat
Slide 18: Cash and Investments Used on Working Capital & Capex
Financial Review CASH AND INVESTMENTS USED ON WORKING CAPITAL & CAPEX » Working capital increased for finished $6.7m ($0.6m) goods and raw material inventories for ($0.8m) growth and to mitigate international ($1.0m) trade risks – with days in working capital going only from 83 days to 94 days $0.1m
Slide 19: Fixed Asset Turnover from Capital-Efficient Production
Financial Review FIXED ASSET TURNOVER FROM CAPITAL-EFFICIENT PRODUCTION Fixed Asset 19.7x Turnover* » Net fixed assets were $1.1m, including capital asset additions of $0.6m » Fixed asset turnover* was 19.7x, showing the capital 11.1x efficiency of Itaconix’s production capacity Additions $0.6m » $0
Slide 20: Developing Attractive Specialty Ingredients Company
Financial Review DEVELOPING ATTRACTIVE SPECIALTY INGREDIENTS COMPANY “Land and expand” customers generating high reoccurring revenue growth Attractive gross profit margins from ingredient contribution to end-product values Efficient capital use: fixed assets, working capital Valuable intangi
Slide 21: Growth Path
GROWTH PATH ltacdnix
Slide 22: Itaconix Focus: First Revenue Stage and Next Potential
Growth Path ITACONIX FOCUS FIRST REVENUE STAGE AND NEXT POTENTIAL Scale Inhibition & Odour Neutralisation Paints & Coatings Itaconix® SPARX BIO*Asterix Performance Formulated Building Ingredients Solutions Blocks » Proprietary polymers » Formulations and other » Plant-based formulated into end- key
Slide 23: First Revenue Stage: Increase Share of Scale Inhibition
Growth Path FIRST REVENUE STAGE INCREASE SHARE OF SCALE INHIBITION MORE UNIT DOSE DISH DETERGENT VOLUMES » Keeping up with global brands • Better shine, fewer spots, less film • Better cleaning, remove tough soils » Safer ingredients • Do not persist in the environment • More plant-based content » L
Slide 24: First Revenue Stage: Shine in Unit Dose Dish Detergents
Growth Path FIRST REVENUE STAGE SHINE IN UNIT DOSE DISH DETERGENTS Multi-Functional Scale Inhibition for Excellent Shine Filming index Better Source: 30 cycle scaling test at TensioConsult 2025 Full Year Results Presentation | 24 March 2026 24
Slide 25: First Revenue Stage: Safety, Affordability, Sustainability
Growth Path FIRST REVENUE STAGE SAFETY, AFFORDABILITY, SUSTAINABILITY Dish Detergent Ingredients for Spotting and Filming Grams per dose Phosphonate Synthetic polymer No phosphonate High biogenic carbon Sodium citrate Itaconix® TSI 422 2025 Full Year Results Presentation | 24 March 2026 25
Slide 26: First Revenue Stage: New Patented Dish Detergent Capsule
Growth Path FIRST REVENUE STAGE NEW PATENTED DISH DETERGENT CAPSULE • Patented formula with new liquid chamber • Performance with 3.7 grams less per dose Soil removal index Source: Bureau Veritas testing for IKW soil removal method at 300 ppm water hardness 2025 Full Year Results Presentation | 24 M
Slide 27: First Revenue Stage: New Patented 8g Dish Detergent Tablet
Growth Path FIRST REVENUE STAGE NEW PATENTED 8G DISH DETERGENT TABLET • New formula with no fossil-based surfactant • Performance with 7.7 grams less per dose Soil removal index Source: Bureau Veritas IKW soil removal method with 300 ppm water hardness 2025 Full Year Results Presentation | 24 March
Slide 28: BIO*Asterix: Specialty Monomers & Binders
Growth Path BIO*ASTERIX® SPECIALTY MONOMERS & BINDERS bioasterix.com » Research quantities to raise awareness and availability of itaconate monomers and binders » Launched in July 2025 » 2025: 1.8k unique visitors, 2.6k sessions, 4.1k pageviews 2025 Full Year Results Presentation | 24 March 2026 28
Slide 29: BIO*Asterix: New Class of Paints
Growth Path BIO*ASTERIX® NEW CLASS OF PAINTS New class of paints distinct from acrylics » Product safety, comparable performance, and high plant- based content » Prototypes and field testing started in 2024 » Trademark filed for new class of paint in 2025 » Formulation patent filed in early 2026 » D
Slide 30: 2026 Outlook: Key Performance Indicators
Growth Path 2026 OUTLOOK KEY PERFORMANCE INDICATORS » Increase unit dose detergent market share • Scale inhibition in EMEA and North America • Odour neutralisation in North America • New marketing effort for formulated solutions » Advance BIO*Asterix consumer product » Positive Adjusted EBITDA » Red
Slide 31: 2026 Outlook: Management Expectations
Growth Path 2026 OUTLOOK MANAGEMENT EXPECTATIONS Revenues Adjusted EBITDA » Continued growth » Positive » In line with management » In line with management expectations* 2026 expectations* Outlook Gross profit Resources margins » Cash & equivalents in line with » Comparable margins by business manag
Slide 32: Itaconix: For Nature with Nature
ITACONIX FOR NATURE WITH NATURE® ENABLNG INGREDIENTS LOW CAPITAL FOR KEY MARKET NEEDS INTENSITY HIGH-QUALITY BROAD PROPRIETARY RE-OCCURING REVENUES TECHNOLOGY PLATFORM GROWTH PATH WITH PROGRESS ON FIRST REVENUE STAGE DECADES OF POTENTIAL 2025 Full Year Results Presentation | 24 March 2026 32
Slide 33: Science informs us that... Nature adapts
Science informs Nature adapts us that . . . Nature adapts and LifeLife finds finds a way a way
Slide 34: 2026 Outlook: Frequently Asked Questions
Growth Path 2026 OUTLOOK FREQUENTLY ASKED QUESTIONS » Middle East conflict? » Customer project pipeline? » Feedstock supply? » Production capacity? » Tableting in North America? » New collaborations? 2025 Full Year Results Presentation | 24 March 2026 34
Slide 35: Appendices
Itaconix | March 2026 | 2025 Annual Results presentation Appendices 2025 Full Year Results Presentation | 24 March 2026
Slide 36: Financials: Income Statement
Appendices FINANCIALS: INCOME STATEMENT For the year ended For the year ended 31 December 2025 31 December 2024 $’000 (Restated) $’000 Revenue 10,499 6,503 Cost of sales (6,857) (4,243) STABLE Gross profit 3,642 2,260 gross profit margin Administrative expenses (4,682) (4,445) Operating loss before
Slide 37: Financials: Balance Sheet
Appendices FINANCIALS: BALANCE SHEET 31 December 2025 31 December 2024 $’000 (Restated) $’000 Non-current assets 3,158 2,863 Intangible assets 237 244 Property, plant and equipment 1,067 584 LOW Right-of-use assets 1,854 2,035 CAPEX Current assets 9,799 10,327 Inventories 3,717 2,312 Trade and other
Slide 38: Financials: Cashflow
Appendices FINANCIALS: CASHFLOW For the year ended For the year ended 31 December 2025 31 December 2024 $’000 $’000 Net cash outflow from operating activities (1,222) (2,753) NET Interest received 27 330 WORKING Purchase of securities (768) - capital Deposit of securities - 6,204 Purchase of propert
Slide 39: Board of Directors
Appendices BOARD OF DIRECTORS PETER J. NIEUWENHUIZEN JONATHAN BROOKS CHAIR INDEPENDENT NON-EXECUTIVE DIRECTOR Former CTO, Corporate Director RD&I Former Equity Capital Markets Partner, Fieldfisher LLP & Sustainability, AkzoNobel Specialty Chemicals Former Partner and Head of Capital Markets, M
Slide 40: Board of Directors
Appendices BOARD OF DIRECTORS JOHN R. SHAW LAURA E. DENNER DIRECTOR DIRECTOR 35+ years growing technology businesses Previously Director of Finance & Operations SmithKline Beecham, McKinsey, Corning, Former Audit Manager, Feeley & Driscoll (BDO) Kensington Research Boston College, MS A
Slide 41: Contact Details
? Review (no change) Itaconix Corporation Email: Find Itaconix online: Stratham, New Hampshire, USA jshaw@itaconix.com Web: itaconix.com +1 (603) 775-4400 LinkedIn: @itaconix corporation X: @itaconixPLC Instagram: @itaconixPLC 2025 Full Year Results Presentation | 24 March 2026