Slide 1: Q3 2025 Earnings
Q3 2025 Earnings November 6, 2025 8:00am ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations and beliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o
Slide 3: Non-GAAP Measures
Non-GAAP Measures It should be noted that adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted (loss) earnings per share attributable to common shareholders, non-operating pension and
Slide 4: Maintaining Long-term Competitiveness
Strong operational execution, demonstrated by Q3 2025 results: ▪ Net sales of $1.3B; volume growth in Energy Storage (+8%) and Ketjen (+8%) ▪ Adj. EBITDA1 of $226M up Y/Y; cost and efficiency improvements offset lower lithium pricing ▪ Q3 cash from ops. of $356M, up 57% Y/Y; YTD cash from ops. of $8
Slide 5: Recent Portfolio Management Actions
Recent Portfolio Management Actions ▪ On October 25, Albemarle entered into a definitive agreement with KPS Capital Partners to sell a controlling stake (51%) in Ketjen’s refining catalyst solutions business ▪ Separately, Albemarle has agreed to sell Ketjen’s interest in the Eurecat JV to its partne
Slide 6: Q3 2025 Financial Summary
Q3 2025 Financial Summary (in millions, except per share amounts) Q3 2025 Q3 2024 Variance Net Sales $1,308 $1,355 -4% Net Loss Attributable to Albemarle Corporation $(161) ($1,069) +85% Adjusted EBITDA1 $226 $212 +7% Adjusted EBITDA Margin1 17% 16% +150 bps Diluted Loss per Share Attributable to Co
Slide 7: Q3 Y/Y Adjusted EBITDA Bridges
Q3 Y/Y Adjusted EBITDA1 Bridges ($ in millions) $500 Y/Y – by Driver $450 $246 $400 $350 $93 $300 $250 $32 $22 Q3 2025 vs 2024 $200 $211 ($9) $226 ▪ Higher volumes in Energy $150 ($132) ($239) Storage and Ketjen and on- $100 $50 going cost and productivity $0 improvements offset lower Q3 2024 Volume
Slide 8: FY 2025 Results Expected to be Towards the Higher End of $9/kg Scenario
FY 2025 Results Expected to be Towards the Higher End of $9/kg Scenario1 Enhancing total company 2025E outlook considerations: ▪ Successful execution of cost H1 2025 avg. H1 2024 range Q4 2023 avg. and productivity Observed Lithium Market improvements Price Scenarios: ~$9 $12-15 $20 (US$/kg LCE)2 ▪
Slide 9: 2025 Commentary by Segment
2025 Commentary by Segment1 ENERGY STORAGE ▪ Q3 2025 sales volumes of 67 kT LCE2, YTD sales volumes of 169 kT LCE; YTD record production from integrated conversion network ▪ Sales volume growth expected to be ≥10% Y/Y, above previous expectations due to record integrated production, strong spodumene
Slide 10: Expect to Achieve Positive FY 2025 Free Cash Flow
Expect to Achieve Positive FY 2025 Free Cash Flow Operating Cash Flow ▪ FY 2025E operating cash conversion expected to be >80%, Conversion1 well above historical average1, driven by: 1. $350M customer prepayment in Energy Storage secured in January 108% 2. On-going working capital improvements, incl
Slide 11: Disciplined Near-Term Capital Allocation Priorities
Disciplined Near-Term Capital Allocation Priorities Estimates ~$2.0B Near-Term Priorities $1.9B • Financial Flexibility − Evaluating additional deleveraging and liability management ~($440M) opportunities for 2026 ~($100M) ~$660M ~$1.4B Cash • Common & Preferred Dividends Potential (final pref. divi
Slide 12: YTD Global EV Demand Growth Remains Strong +30% Y/Y
YTD Global EV Demand Growth Remains Strong +30% Y/Y, Led by China and Europe Global EV Sales1 China EV Sales1 Europe EV Sales1 North America EV Sales1 20 (in millions) 20 20 20 60% 20% 10% 15 15 15 15 of Global of Global of Global 10 10 10 10 +30% 2025 Y/Y +30% 5 5 2025 Y/Y 5 5 +31% 12% 2025 Y/Y 202
Slide 13: Lithium Demand for Stationary Storage to Increase ~2.5x by 2030
Lithium Demand for Stationary Storage to Increase ~2.5x by 2030 to Support Energy Availability and Resilience Data center electricity demand ESS supports peak-demand, regulates grid Global Li-ion battery demand for stationary storage +105% Y/Y YTD expected to more than double by 2030 frequency and v
Slide 14: Broad Set of Actions Underway to Maintain our Long-term Competitive Position
Broad Set of Actions Underway to Maintain our Long-term Competitive Position Optimizing Improving Reducing Enhancing Conversion Network Costs and Efficiency Capital Expenditures Financial Flexibility Actions • Significantly reduced footprint at • Delivered proactive measures to re- • Re-phased capex
Slide 15: Actions to Reduce Costs, Generate Cash Are Driving Positive Results
Actions to Reduce Costs, Generate Cash Are Driving Positive Results Delivering Non-manufacturing Cost & Productivity Savings in Sharp Improvement in Cash Flow Generation; Expect to FY 2025; Demonstrated in Quarterly Results Generate $300-400M FCF in 2025 $0.1B SG&A & R&D Costs1 Free Cash Flow1 Trail
Slide 16: Maintaining Long-term Competitiveness
Strong operational execution, demonstrated by Q3 2025 results; Net sales of $1.3B; Adj. EBITDA1 of $226M up Y/Y as cost and efficiency improvements offset lower lithium pricing Enhancing outlook considerations; FY 2025 trending towards higher-end of previous range; expect to achieve positive free ca
Slide 17: Q4 2025 Investor Relations Events
Q4 2025 Investor Relations Events Nov 11 Morgan Stanley Global Chemicals Conference Meredith Bandy, CFA Nov 12 East Coast NDR VP, Investor Relations & Sustainability meredith.bandy@albemarle.com +1 980.999.5168 Nov 20 Deutsche Bank Lithium Conference (Virtual) Isaac Price Manager, Investor Relations
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Slide 19: Appendix
\ Albemarle* Appendix
Slide 20: FY 2025E Energy Storage Market Price Scenarios
FY 2025E Energy Storage Market Price Scenarios1 FY2025 results expected to be towards the high-end of the Observed Lithium FY 2024A Q2 2025 avg. H1 2024 range Q4 2023 avg. $9/kg scenario due to: Market Price Scenarios: (US$/kg LCE)2 $12 ~$9 $12-15 $20 ▪ Successful execution of cost and productivity
Slide 21: Specialties, Ketjen, and Corporate FY 2025E Outlook Considerations
Specialties, Ketjen, and Corporate FY 2025E Outlook Considerations FY 2025E Segments FY 2024A as of November 5, 2025 Specialties Net Sales $1.3B $1.3B – $1.5B Specialties Adj. EBITDA $229M $210M – $280M Ketjen Net Sales $1.0B $1.0B – $1.1B Ketjen Adj. EBITDA $131M $120M – $150M Other Corporate Capit
Slide 22: Illustrative Calculation of FY 2025E Adj. EPS at ~$9/kg Scenario
Illustrative Calculation of FY 2025E Adj. EPS at ~$9/kg Scenario Q2 2025 avg. ~$9/kg Scenario (in millions, except per share amounts) Low High Adjusted EBITDA1 $800 $1,000 - Pre-Tax Equity Income $290 $430 Assuming 30% AU tax rate - Interest Expenses $180 $210 - Depreciation and Amortization $630 $6
Slide 23: Our Actions Have Enhanced Financial Flexibility
Our Actions Have Enhanced Financial Flexibility1 Strong Liquidity Position Nov. 2025 Ample Flexibility to Repay or Extend Debt Maturities Eurobonds expected to be Long-term debt has weighted average repaid with cash interest rate of 3.6% (100% fixed) $1,932 on hand Cash & Cash $650 $600 Equivalents
Slide 24: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non-operating pension and OPEB. Common Shareholders Adjusted Diluted EPS Attributable to Diluted
Slide 25: Adjusted Net Income
Adjusted Net Income 0 0 0 Net loss attributable to Albemarle Corporation (1 0, 9 ) (1,0 ,99 ) Add back: Non operating pension and OPEB items (net of tax) 1 9 ( ) Non recurring and other unusual items (net of tax) 1 0,0 5 9 , 1 Adjusted net income (loss) attributable to Albemarle Corporation 19,5 0 (
Slide 26: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA 0 0 0 0 0 0 % % % % Net loss attributable to Albemarle Corporation (1 0, 9 ) (1 . )% (1,0 ,99 ) ( .9)% (9 , 9) ( . )% (1, 5 , ) ( 0. )% Add back: nterest and financing expenses 50,959 .9 % , 0 .5 % 1 9, 5 .0 % 1 0,91 .9 % ncome tax (benefit) expense ( 0,5 5) ( . )% 110, 5
Slide 27: Adjusted EBITDA supplemental
Adjusted EBITDA supplemental1 0 0 0 0 0 0 1 0 1 0 10 0 1 0 E uity in net income of non indfield oldings unconsolidated investments (net of tax) ( 9,0 5) ( , 5 ) ( , 9 ) (9, 00) ( ,9 ) ividends received from non indfield oldings unconsolidated investments 9,55 5,11 , 9 , 10,5 10 0 0 0 9% indfield old
Slide 28: Diluted EPS
Diluted EPS 0 0 0 iluted loss per share attributable to Albemarle Corporation common shareholders (1. ) (9. 5) Add back: Non operating pension and OPEB items (net of tax) Non recurring and other unusual items (net of tax) Restructuring charges and asset write offs 0.0 .91 Goodwill impairment charges
Slide 29: Effective Tax Rate
Effective Tax Rate 0 0 As reported ( 9,1 ) ( 0,5 5) 1 . % Non recurring, other unusual and non operating pension and OPEB items 1 1, 1, 10 As adjusted (5 , ) ( 9, 55) 50.9 % 0 0 As reported (1,1 , ) 110, 5 (9. )% Non recurring, other unusual and non operating pension and OPEB items 5 , 5 ( 9,5 5) As
Slide 30: Equity Income and Noncontrolling Interest
Equity Income and Noncontrolling Interest 0 0 0 Energy Storage , 9 1 , 9 Specialties (1 , 5 ) ( , 1) Ketjen ,05 1, 9 Corporate 5,0 1 ,5 1 0 Total Company 0, 0 (1 , 5 ) 9,05 ( , 51) Note: Corporate equity income relates to foreign exchange gains or losses of our Windfield Holdings joint venture. 30
Slide 31: LTM SG&A & R&D Costs and LTM Free Cash Flow
LTM SG&A & R&D Costs and LTM Free Cash Flow 1 0 0 1 1 0 0 0 0 0 0 0 0 0 LTM Selling, general and administrative expenses ( SG A ) 950, 0 05, ,00 1 ,0 5 0,1 5 , 0 5 0,5 LTM Research and development expenses , ,1 9, 5 , 0 , ,9 1 59, Less: LTM SG A non recurring and other unusual items ( 5, 1 ) ( , 5)
Slide 32: www.albemarle.com
NYSE www.albemarle.com \ Albemarle®