Slide 1: 1Q26 Earnings Call
1Q26 Earnings Call May 8, 2026
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by management, forec
Slide 3: Key 1Q26 Highlights
Key 1Q26 Highlights Iran conflict increased pricing for caustic soda 1 and EDC 2 Chlor Alkali turnaround schedule impacted both production rates and maintenance costs 3 Accelerating Beyond250 cost reductions 4 Epoxy business returns to profitability 5 Winchester commercial ammunition volume and pric
Slide 4: Chlor Alkali Products & Vinyls Segment Performance
Chlor Alkali Products & Vinyls Segment Performance Sales ($M) Adjusted EBITDA ($M) Actions $925 $186 • Capitalizing on export EDC/caustic $856 soda opportunities $757 • Focus on domestic and Brazilian caustic soda value improvement $86 $85 • Extending Beyond250 to regional sites Looking Ahead 1Q25 4
Slide 5: Epoxy Segment Performance
Epoxy Segment Performance Sales ($M) Adjusted EBITDA ($M) Actions • Raising product pricing to offset $359 $356 $9 rising feedstock and transportation $332 costs • Converting spot opportunities into longer-term relationships $(7) Looking Ahead • Continue to leverage our advantaged $(16) US and EU co
Slide 6: Winchester Segment Performance
Winchester Segment Performance Sales ($M) Adjusted EBITDA ($M) $471 $32 $449 Actions $388 $24 • Disciplined approach to improved commercial demand • Further 2Q price increases $10 announced Looking Ahead 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 • Higher commercial demand driving strong order backlogs Sequentia
Slide 7: Financial Highlights
Financial Highlights Highlights Bond Maturity Profile1 ($M) • 1Q26 amendment to credit facility provides covenant relief and preserves liquidity • Working capital builds seasonally in 1H26 $669 $683 • 1H26 cash flows reflect legacy litigation matters $515 • On track to deliver $100-120M Beyond250 sa
Slide 8: 2Q26 Outlook
2Q26 Outlook • Higher EDC volume & pricing CAPV • Increased caustic soda and bleach prices • Completion of VCM turnaround • Raising resin prices to more than offset rising feedstock costs Epoxy • Growing Formulated Solutions volumes • Improved structural cost • Improved commercial volume and pricing
Slide 9: Appendix
Appendix Oli ° | ESSENTIAL eZEEM sciutions
Slide 10: 1Q26 vs. 4Q25 Adjusted EBITDA Bridge ($M)
1Q26 vs. 4Q25 Adjusted EBITDA Bridge ($M) $14 $86 $16 $(11) + Improved + Lower commercial environmental $68 pricing and expense $(1) volume + Beyond250 lower - Higher costs + Beyond250 Stade Germany structural savings + Higher military from mark-to- structural costs project revenue market on stock-
Slide 11: Beyond250 Drives Meaningful Structural Cost Savings
Beyond250 Drives Meaningful Structural Cost Savings Projected Beyond250 Investor Day Annual Added Savings Actions Underway Targets $250+ $50-60 • More than 300 employee and contractor positions eliminated in 2H25; similar level expected for 2026 CAPV $60-80 • Implementation of Stade, Germany supply
Slide 12: Outlook: Full Year 2026 Modeling Assumptions
Outlook: Full Year 2026 Modeling Assumptions Line Item Forecast ($M) Key Elements Capital Spending ~$200 Expected to be lower than 2025 levels Depreciation & Amortization ~$475 Expected to be lower than 2025 levels Non-operating Pension Income $10 to $15 Expected to be lower than 2025 income levels
Slide 13: Full Year 2026 Outlook – Current Expectations vs 2025
Full Year 2026 Outlook – Current Expectations vs 2025 Area 2026 Tailwinds 2026 Headwinds CAPV • Expected caustic price benefit • Stranded cost of PO-related ECU closure • Beyond250 structural cost savings • Higher raw materials, including power costs • EDC pricing inflects 2Q26 • Higher turnaround e
Slide 14: Delivering on Our Value Strategy
Delivering on Our Value Strategy 1Q26 Profit Contribution Index (ECU PCI) Sequential Olin Pricing Comparison 100 = Q1 2020 1Q26 vs. 4Q25 294 287 Chlorine 262 261 257 255 Caustic Soda 238 EDC 222 211 207 Index Bleach 192 191 187 186 180 172 HCl 168 157 153 153 148 Chlorinated Organics Aromatics 106 T
Slide 15: Maintenance Turnarounds Expenses
Maintenance Turnarounds Expenses1 Chlor Alkali Products & Vinyls ($M) Epoxy ($M) Actual 2025 Actual 2026 Forecast 2026 Actual 2025 Actual 2026 Forecast 2026 $165 $141 $47 $47 $39 $42 $41 $40 $42 $35 $31 $27 $14 $14 $9 $2 $5 $2 $5 $1 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year • CAPV – Freeport, TX e
Slide 16: Non-GAAP Financial Measures – Adjusted EBITDA
Non-GAAP Financial Measures – Adjusted EBITDA1 Olin's definition of Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is net income (loss) plus an add-back for depreciation and amortization, interest expense (income), income tax provision (benefit), other expense (inc
Slide 17: Non-GAAP Quarterly Financial Measures by Segment
Non-GAAP Quarterly Financial Measures by Segment1 Three Months Ended Three Months Ended Three Months Ended March 31, 2026 December 31, 2025 March 31, 2025 Income Income Income (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted (Loss) Reconciling Depr and Adjusted ($ in million