Slide 1: Elementis plc 2025 Full year results
Elementis plc 2025 Full year results 5 March 2026 Unique chemistry, sustainable solutions Unique chemistry, sustainable solutions
Slide 2: Cautionary statement
Cautionary statement This presentation, the presentation materials and discussion The Company is the holding company for a number of operationally may contain certain forecasts, projections and forward-looking distinct and autonomous subsidiaries that conduct the day-to-day statements—that is, state
Slide 3: Agenda
Agenda 01 Introduction and highlights Luc van Ravenstein 02 Financial performance Kath Kearney-Croft 03 Elevating Elementis Luc van Ravenstein 04 Lucchemistry, Unique Q&A sustainable van Ravenstein and Kath Kearney-Croft solutions 3
Slide 4: Key highlights
Key highlights 2025 Resilient Pure-play premium Progressing performance; specialty Innovation sales up Zero lost time Elevate Elementis strong profit and chemicals to 16.4%1 accidents growth strategy margin delivery business Unique chemistry, sustainable solutions Note: 1. Continuing operations basi
Slide 5: The new Elementis: pure-play specialty portfolio
The new Elementis: pure-play specialty portfolio High-quality specialty chemicals business Elementis strongly positioned: Alchemy acquired Now pure-play specialties Pharmaceutical Chromium Talc manufacturing sold sold signed Personal Care Additives: small part of formulation, critical to performance
Slide 6: Agreed sale of pharmaceutical manufacturing business
Agreed sale of pharmaceutical manufacturing business Margin enhancing non-core disposal Enterprise value 1 c.$40m Sharpens focus on core areas Revenue c.$35m2 Closing expected Q2 Operating margin uplift subject to regulatory Unique chemistry, Capital intensity reduced sustainable solutions approvals
Slide 7: 2026 targets delivered early - new targets set
2026 targets1 delivered early - new targets set Revenue Growth2 Operating Margin2 Operating Cash Conversion2,3 Return on Capital Employed2,4 MSD5 23%+ >90% >30% Mid-single digit growth 23%+ 21% 97% 30% >30% 1.8% CAGR 20%3 88% >90% 29% 29% 604 598 77% 577 15% Unique chemistry, sustainable solutions 2
Slide 8: Significant progress in all areas of sustainability
Significant progress in all areas of sustainability 8 8 Zero lost time accidents in 2025 Reduced carbon footprint High engagement levels Injuries / TRIR lost time accidents Elementis Total Recordable Recordable Injuries 7 Injury Rate (TRIR) Lost-Time Accidents 2 • Carbon intensity reduction of 77%1
Slide 9: Financial performance
Financial performance Kath Kearney-Croft, CFO Unique chemistry, sustainable solutions
Slide 10: Strong profit growth and further margin expansion
Strong profit growth and further margin expansion FY 25 FY 24 Change3 Revenue1 ($m) 597.5 603.8 (1.9%) Adjusted operating profit1 ($m) 126.7 119.2 4.6% Adjusted operating margin1 ($m) 21.2% 19.7% 150 bps Adjusted diluted EPS (cents)1 13.7 12.0 14.2% Net debt ($m) 185.4 157.2 17.8% Net debt to EBITDA
Slide 11: Group revenue ($m)
Group revenue ($m) Resilient performance in challenging market conditions 5.2 (5.6) 7.8 (13.7) 603.8 597.5 ( (4.3) (14.1) (43) 8.5 (3.3) (2.3) Coatings Personal Care Unique chemistry, sustainable solutions 2024 FX Volume Price Mix 2025 11
Slide 12: Group Adjusted operating profit ($m)
Group Adjusted operating profit ($m) Strong profit and margin growth supported by self-help actions (1.9) 18.0 1.9 (10.5) 126.7 119.2 (3) 5 (6) Unique chemistry, sustainable solutions 2024 FX Volume Price/Mix1 Savings 2025 19.7% 21.2% AOP2 margin Notes: 1. Price / Mix is shown net of inflation. 12 2
Slide 13: Personal Care performance
Personal Care performance Strong revenue, profit and margin delivery $m FY 25 FY 24 Change • Strong growth in skin care and cosmetics offsets (constant currency) slight decline in AP actives. Higher revenues in EMEA and Americas Revenue 224.5 217.4 2.4% • Profit and margin improvement reflects impro
Slide 14: Coatings performance
Coatings performance Resilient margin performance $m FY 25 FY 24 Change (constant currency) • Revenue impacted by soft demand for industrial and architectural coatings across all regions Revenue 373.0 386.4 (4.3%) • Resilient margin performance reflects benefit of higher pricing and self-help action
Slide 15: Proven track record of cost savings delivery
Proven track record of cost savings delivery 2024-2025 2025-2026 Target $30m $10m • 2023 CMD $30m cost savings target for 2025 delivery achieved Unique chemistry, sustainable solutions • Additional $10m savings announced in July. $6m achieved Status Delivered On-track in 2025 15
Slide 16: Strong free cash flow generation
Strong free cash flow generation $m 2025 2024 • Working capital outflow driven by Adjusted EBITDA 149.0 141.7 higher receivables due to lower year end debt factoring and Change in working capital (21.6) (1.6) strategic inventory build Capital expenditure (22.7) (16.9) Adjusted operating cash flow 10
Slide 17: Robust balance sheet gives capital allocation optionality
Robust balance sheet gives capital allocation optionality Net debt to EBITDA ratio broadly flat 1 Net debt 2024 Free cash flow Talc disposal Share buyback Dividends Eaglescliffe Alchemy acquisition FX Net debt 2025 (52.5) (3) 41.0 (53.8) 157.2 (25.3) Unique chemistry, sustainable solutions (11.1) (2
Slide 18: Capital allocation
Capital allocation Balanced approach that prioritises growth, with progressive dividend and scope for additional returns. Investing Progressive Additional for growth dividend returns • Capex —focus on growth and • Maintain policy at ~30% payout • Look to maintain leverage over time productivity • Fi
Slide 19: 2026 technical guidance
2026 technical guidance P&L Cash flow • Depreciation and amortisation reduced post Talc • Capex ~4-5% of revenue sale ~$23m • Interest ~$15m • Net finance costs of ~$20m Unique chemistry, sustainable solutions • Adjusted effective tax rate of ~25% 19
Slide 20: Elevating Elementis
Elevating Elementis Luc van Ravenstein, CEO Unique chemistry, sustainable solutions
Slide 21: Three strategic priorities
Three strategic priorities Accelerate First choice Simpler, leaner sustainable growth for customers Elementis Objectives +20% OTIF improvement Mid-single digit Increased efficiency and agility 30% capacity utilisation revenue growth Cost savings improvement at St. Louis Focus on winning differentiat
Slide 22: Leveraging our winning differentiators..
Leveraging our winning differentiators.. Category Hectorite Rheology Formulation Solutions Our special asset Our leading capability How we work with customers • Natural white clay, natural, highly efficient • The science of flow—what makes • Our Expertise to optimise formulations What is it? ingredi
Slide 23: ..to grow in large and attractive end markets
..to grow in large and attractive end markets Total addressable market Focus on selected high-value niches • Skin care – hectorite replacing synthetics & imparting premium textures >$1.5bn • Colour cosmetics – pre-formulated hectorite gels Existing Personal • Antiperspirants – high-efficacy actives
Slide 24: Progressing towards our MSD growth target
Progressing towards our MSD1 growth target Growth levers 2025 in action High-quality, high-impact innovation DEOLUXE SC: Increase R&D • Record 16.4%2 revenue from innovation biodegradable non-metal investment by 50% • >1,500 innovation samples to customers antiperspirant BENTONE® ULTIMATE: Increase
Slide 25: Acquisition of Alchemy
Acquisition of Alchemy Delivering growth through complementary M&A Right in our sweet spot: • Experts in luxurious textures for skin care and cosmetics • Premium, natural rheology ingredients • Proven track record of revenue and profit growth Complementary and synergistic: • Developing formulations
Slide 26: First choice for customers
First choice for customers Our path to becoming the industry’s most reliable partner On-Time-In-Full Leveraging our footprint Customer (OTIF) improvement to increase output First Enhancing Improve capacity >50% reduction in service levels utilisation customer response times OTIF ST. LOUIS OPPORTUNIT
Slide 27: Simpler, leaner Elementis
Simpler, leaner Elementis 2025 • Streamlined organisation & leadership team delivered • Talc stranded costs eliminated • Reduced office space • Renegotiated tolling arrangements • >50 new vendors: significant procurement savings • Deliver next phase of procurement savings 2026 • Efficiency through A
Slide 28: Looking ahead
Looking ahead 2026 priorities – advancing our Elevate Elementis strategy Organic growth Deliver best-in-class Drive operational Confidence in through R&D and customer service efficiency and deliver delivering further customer intimacy levels cost savings progress Unique chemistry, sustainable soluti
Slide 29: Q&A
Q&A Luc van Ravenstein, CEO Kath Kearney-Croft, CFO Unique chemistry, sustainable solutions
Slide 30: Appendix
Appendix Unique chemistry, sustainable solutions
Slide 31: Hectorite: a unique source of value creation
Hectorite: a unique source of value creation Consumer Double-digit growth through the cycle Customer Formulation Plant Hectorite One of the largest commercial Hectorite modification and Inclusion of functional ingredients Versatile across Personal • Easy application high-grade mines in the world act
Slide 32: A global business with a local-for-local model
A global business with a local-for-local model Manufacturing R&D centre Hectorite Mine Hectorite Mine, California 12 Manufacturing sites 8 R&D centres Unique 4 chemistry, sustainable solutions Continents 32
Slide 33: Formulation Solutions
Formulation Solutions Partner of choice for our customers Scale-up R&D Bolt-on M&A Customer intimacy • R&D spend from ~2% to ~3% of sales • Complementary to core, e.g.: • Increase direct account coverage – New customer application labs – Add-ons to Hectorite • New warehouses and technical support –
Slide 34: Personal Care
Personal Care Innovation pipeline well positioned to capture new and emerging trends Trends Innovation • Launched BENTONE® ULTIMATE series used in makeup (lipstick) • Growing demand for natural • Breakthrough, patent-pending hectorite technology Colour products and skinification • >90% natural cosme
Slide 35: Coatings
Coatings Innovation pipeline well positioned to capture new and emerging trends Trends Innovation • Launched Elementis Opacity Toolbox: enabling our customers to achieve superior coverage with less paint • Increased demand for • Powdered and biobased premium rheology (NiSATs1): +45% sustainable ingr
Slide 36: Net debt IFRS reconciliation
Net debt IFRS 16 reconciliation 2025 Pre-IFRS 16 Basis Post-IFRS 16 Basis Bank loans and overdraft (240.0) (240.0) Lease liabilities - (20.4) Cash and cash equivalents 54.6 54.6 Net Debt 185.4 205.8 Adjusted operating profit 126.7 126.7 Add: Depreciation and amortisation 30.5 30.5 Less: Amortisation
Slide 37: Talc sale transaction details
Talc sale transaction details A clean break, with concurrent signing and closing €m $m1 Enterprise Value 107 121 Rehabilitation and Closure Costs (35) (40) Other debt and debt-like items (15) (17) Transaction Costs (8) (9) Unique chemistry, Net Cash Proceeds after sustainable 48 solutions 55 transac
Slide 38: For more details please contact
Unique chemistry, sustainable solutions For more details United Kingdom Europe North America Asia please contact: Elementis PLC Elementis Portugal, Elementis Duechem (Shanghai) The Bindery 5th Floor Unipessoal LDA 469 Old Trenton Road Chemical Co, LTD. elementis.com 51-53 Hatton Garden Rua de Santos