Slides
Page 1
THIRD QUARTER 2026 RESULTS NOVEMBER 5, 2026 MIKE RADOSSICH CHIEF EXECUTIVE OFFICER CHRISTOPHER DAVIS CHIEF FINANCIAL OFFICER
Page 2
This presentation contains forward-looking statements and forward-looking information, including statements regarding the Company’s expectations, plans, strategies, objectives, future events, and future financial performance. These statements are based on current expectations, estimates, assumptions and projections as of the date of this presentation and are not guarantees of future performance. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those expressed or implied. These factors include, among others, general economic, political and market conditions; inflation, interest rate and foreign exchange rate fluctuations; changes in demand and competitive conditions; raw material, energy and supply chain developments; product development and innovation risks; regulatory and approval processes; litigation and compliance matters; acquisitions, divestitures and restructurings; product withdrawals; and other risks described in the Company’s public filings and reports. Accordingly, undue reliance should not be placed on forward-looking statements. Should one or more risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This presentation does not constitute an offer to sell, or the solicitation of an offer to subscribe for or buy, any securities. DISCLAIMER 2
Page 3
Q3 2026 REVIEW AGENDA Q3 2026 FINANCIAL REVIEW 1 2 3 3 LOOKING AHEAD
Page 4
MIKE RADOSSICH CHIEF EXECUTIVE OFFICER 1 4 THIRD QUARTER 2026 REVIEW
Page 5
Net sales increased 9% YoY[1], led by 13% growth in Materials Record YoY net sales growth of 27% in Composite Materials; Specialty Polymers YoY[1] growth accelerated to 6%, led by volume growth in Electronics & Batteries 2% YoY[1] net sales growth in Performance & Care, led by 4% growth in Technology Solutions; return to YoY[1] growth in Novecare Gross profit increased 7% YoY, primarily driven by Materials Underlying EBITDA increased 3% QoQ driven by Specialty Polymers and Novecare Full year Operating Cash Flow outlook updated to at least €700mn; Capital Expenditures to less than €450mn[2] THIRD QUARTER 2026 HIGHLIGHTS €1.59bn +7% YoY volumes +2% YoY pricing NET SALES €320mn 20.1% marginEBITDA €502mn 31.6% marginGROSS PROFIT €284mn 5 OPERATING CASH FLOW [1] On an organic basis [2] Includes approximately €25 million of capital expenditures related to the new ERP implementation
Page 6
6 ACCELERATING EXECUTION EXECUTION EXCELLENCE New battery binder qualifications in Europe & US Market share gains in Automotive Diofan® Super B sales up +30% YoY in Pharmaceutical packaging POWERHOUSE INNOVATION Next gen Tecnoflon® FFKM for Semiconductors DISCIPLINED CAPITAL DEPLOYMENT Addressing bottlenecks in high demand product lines (e.g. semiconductors, aerospace) Selective investments in Composite Materials (US expansion) TRANSPARENCY Strategic Review of Performance & Care Novecare Technology Solutions Award-winning Ryton PPS for DC fast-charging busbars
Page 7
7 2 CHRISTOPHER DAVIS CHIEF FINANCIAL OFFICER THIRD QUARTER 2026 FINANCIAL REVIEW
Page 8
THIRD QUARTER 2026 FINANCIAL RESULTS 8 Underlying (€ million) Q3 2026 Net sales 1,590 Gross profit 502 Q3 2025 Q2 2026 YoY change YoY organic QoQ change 9M 2026 9M 2025 YoY change YoY organic 1,554 8.9% 4,544 4.0% 528 - 1,474 - Gross profit margin 31.6% 34.0% - 32.4% - Underlying EBITDA 320 311 -1.4% 882 -6.7% Underlying EBITDA margin 20.1% 20.0% -210 bps 19.4% -220 bps Operating cash flow 284 331 131 -14.2% - 116.8% 497 527 -5.7% - ROCE (LTM) 5.3% 6.4% 5.5% - 5.3% 6.4% - - 1,427 11.4% 2.3% 4,433 2.5% 471 6.6% -4.9% 1,459 1.0% 33.0% -140 bps -240 bps 32.9% -50 bps 320 -0.1% 2.9% 952 -7.4% 22.4% -230 bps 10 bps 21.5% -210 bps -120 bps -20 bps -120 bps
Page 9
Materials Performance & Care Other Solutions 9 € million THIRD QUARTER 2026 PERFORMANCE BY SEGMENT 960 Q2 2026 865 Q3 2025 994 Q3 2026 515 Q2 2026 496 Q3 2025 521 Q3 2026 79 Q2 2026 67 Q3 2025 75 Q3 2026 266 267 275 28% Q2 2026 31% Q3 2025 28% Q3 2026 92 90 100 18% Q2 2026 18% Q3 2025 19% Q3 2026 8 5 0 11% Q2 2026 7% Q3 2025 -1% Q3 2026 EBITDA & Margin (%)EBITDA & Margin (%)EBITDA & Margin (%) Net Sales Net Sales Net Sales
Page 10
Q3 2026 EBITDA (€ million) Year-on-Year THIRD QUARTER 2026 UNDERLYING EBITDA [1] Performance & Care [2] Corporate & Business Services10 Q3 2026 EBITDA (€ million) Sequential Q2 2026 Materials P&C Other Solutions Corporate Q3 2026 320 324 3200 5 4 7 -10 Q3 2025 Scope FX Materials P&C Other Solutions Corporate Q3 2026Q3 2025 (constant scope FX) 311 9 9 320 -9 -6 0 [1] [1][2] [2]
Page 11
Growth capex[2] Sustenance capex[3] [1] Including Capex for the new ERP Implementation [2] Growth capex includes investments in growth platforms and new capacities [3] Sustenance capex includes investments in maintenance, leasing, One Planet and digital transformation [4] Includes investments for the ERP implementation Corporate Performance & Care Materials Other Solutions 11 CAPITAL EXPENDITURE DISCIPLINE[1] (€ million) Growth capital invested in: ■ Expansion in non-fluorosurfactant perfluoroelastomer portfolio (Tecnoflon) ■ Fluorinated fluids (GaldenⓇ PFPE) for Electronics ■ Expansion in Havre de Grace (US) of high- performance structural adhesives for aerospace market Sustenance capital invested in: ■ Maintenance, safety & regulatory compliance across our industrial and corporate offices ERP capex[4] 80 63 57 37 7 5 85 62 24 21 30 22 3 2 Q3 2025 Q3 2026Q3 2025 Q3 2026
Page 12
LOOKING AHEAD 3 12 MIKE RADOSSICH CHIEF EXECUTIVE OFFICER
Page 13
FY 2026 OUTLOOK[1] UNDERLYING EBITDA (UNCHANGED) ■ Low to mid-single digit FY volume growth ■ Continue to expect Q1 2026 EBITDA[2] to be lowest quarter of the year ■ Strong YoY volume growth expected in Q4, driven by Specialty Polymers €1.1 bn AT LEAST [1] Assumes €/US$ @1.20 [2] Underlying [3] Includes approximately €25 million of capital expenditures related to the new ERP implementation OPERATING CASH FLOW (UPDATED) ■ Working capital inflow expected in Q4 ■ Includes €39m of insurance proceeds received in Q3 €700 mn AT LEAST CAPITAL EXPENDITURE (UPDATED) ■ Continued focus on capital discipline ■ Driven by timing of spend from 2026 to 2027 €450 mn [3] LESS THAN
Page 14
Q&A 14
Page 15
INVESTOR RELATIONS IMPORTANT DATES ■ Feb 25, 2027: FY 2026 results ■ April 29, 2027: Q1 2027 results ■ July 29, 2027: Q2 2027 results ■ Nov 4, 2027: Q3 2027 results INVESTOR CONFERENCES & ROADSHOWS ■ Nov 10, 2026: Morgan Stanley Global Chemicals & Agriculture Conference ■ Nov 25, 2026: Bernstein 2nd Annual Industrials & Infrastructure Conference Sherief Bakr +44 7920 575 989 Robbin Moore-Randolph +1 470 493 2433 Loïc Flament +32 478 69 74 20 Eva Behaeghe +32 474 49 23 50 investor.relations@syensqo.com 15 THANK YOU
Page 16
SUPPLEMENTARY INFORMATION 16
Page 17
THIRD QUARTER & YTD 2026 KEY FIGURES IFRS Underlying (in € million) Q3 2026 Q3 2025 % YoY Q3 2026 Q3 2025 % YoY YoY organic Net sales 1,590 1,427 11.4% 1,590 1,427 11.4% 8.9% EBITDA 307 293 4.8% 320 320 -0.1% -1.4% EBITDA margin 19.3% 20.5% -120 bps 20.1% 22.4% -230 bps -210 bps EBIT 116 133 -13.2% 184 190 -3.3% - Net financial charges -23 -39 -39.9% -37 -39 -4.6% - Income tax expenses -22 -56 -60.9% -38 -42 -11.1% - Profit / (loss) attributable to Syensqo shareholders 70 39 78.9% 109 110 -1.5% - Basic earnings per share (in €) 0.68 0.38 78.4% 1.07 1.08 -1.2% - (in € million) 9M 2026 9M 2025 % yoy 9M 2026 9M 2025 % yoy YoY organic Net sales 4,544 4,433 2.5% 4,544 4,433 2.5% 4.0% EBITDA 811 758 7.0% 882 952 -7.4% -6.7% EBITDA margin 17.9% 17.1% 80 bps 19.4% 21.5% -210 bps -220 bps EBIT 307 288 6.3% 489 575 -15.1% - Net financial charges -90 -103 -12.7% -104 -109 -4.0% - Income tax expenses -87 -108 -19.2% -101 -126 -19.4% - Profit / (loss) attributable to Syensqo shareholders 156 86 80.3% 282 350 -19.5% - Basic earnings per share (in €) 1.53 0.84 81.5% 2.77 3.41 -18.9% -
Page 18
-33 -21 -10 320 29 284 THIRD QUARTER & YTD 2026 OCF BRIDGES Q3 2026 Operating Cash Flow Bridge (€ million) 18 YTD 2026 Operating Cash Flow Bridge (€ million) Change in working Capital Underlying EBITDA Operating Cash flow Change in provisions Taxes & Others ERP project -90 -116 -94 -38 -47 882 497 Change in working Capital Underlying EBITDA Operating Cash flow Change in provisions Taxes & Others ERP project Separation costs
Page 19
Q3 2026 HIGHLIGHTS Specialty Polymers net sales increased 6% organically year-on-year. Higher Automotive and Electronics volumes led the growth, with semiconductor customers driving the increase in Electronics demand. Building and Food Packaging also contributed higher volumes EBITDA margin of 27.6% decreased 310 basis points on an organic basis year-on-year. This reflected a lower year-on-year underlying EBITDA margin in Specialty Polymers and an unfavorable segment mix, due to stronger growth in Composite Materials relative to Specialty Polymers SEGMENT PERFORMANCE Materials 19 Q3 2026 Net Sales (€ million) Year-on-YearNet sales increased 13% organically year-on-year, driven by record net sales growth in Composite Materials, as well as strong net sales growth in Specialty Polymers Composite Materials net sales up 27% organically year-on-year, driven by strong demand in Civil Aerospace, reflecting the continued ramp-up of programs across customers supported by the recently renewed multi-year agreements with Airbus and Boeing. Space and Defense applications also delivered strong year-on- year growth 865 0 16 880 100 14 994 Underlying (€ million) Q3 2026 Q3 2025 Q2 2026 YoY change YoY organic QoQ change 9M 2026 9M 2025 YoY change YoY organic Net sales 994 865 960 15.0% 12.9% 3.6% 2,779 2,670 4.1% 6.1% Specialty Polymers 634 587 626 7.9% 6.2% 1.2% 1,790 1,788 0.1% 1.8% Composite Materials 361 277 334 30.1% 27.1% 7.9% 989 882 12.1% 15.0% EBITDA 275 267 266 2.8% 1.6% 3.4% 755 790 -4.4% -2.9% EBITDA margin 27.6% 30.9% 27.7% -330 bps -310 bps 0 bps 27.2% 29.6% -240 bps -250 bps Q3 2025 Scope FX Volume & mix Price Q3 2026Q3 2025 (constant scope & FX)
Page 20
Q3 2026 HIGHLIGHTS Technology Solutions net sales increased 4% organically, reflecting higher volumes driven by strong demand for phosphorus derivatives used in the Industrials & Chemicals end market SEGMENT PERFORMANCE Performance & Care 20 Q3 2026 Net Sales (€ million) Year-on-YearNet sales increased by 2% organically year-on-year, reflecting slightly higher pricing while volumes remained broadly stable Novecare net sales increased 1% on an organic basis, as higher pricing more than offset slightly lower volumes. Volume growth in Industrials & Chemicals and Home & Personal Care provided a partial offset to lower Agro demand EBITDA margin of 19.3% increased by approximately 100 basis points organically, driven by higher underlying EBITDA margin in Novecare, which offset a slightly lower margin in Technology Solutions 496 0 15 511 13 521 Q3 2025 Scope FX Volume & mix Price Q3 2026Q3 2025 (constant scope & FX) -3Underlying (€ million) Q3 2026 Q3 2025 Q2 2026 YoY change YoY organic QoQ change 9M 2026 9M 2025 YoY change YoY organic Net sales 521 496 515 5.0% 1.9% 1.2% 1,538 1,547 -0.6% 0.2% Novecare 341 327 344 4.2% 0.9% -0.9% 1,022 1,045 -2.1% -1.3% Technology Solutions 180 169 171 6.5% 3.8% 5.3% 515 502 2.6% 3.3% EBITDA 100 90 92 11.3% 7.2% 9.4% 274 284 -3.5% -2.1% EBITDA margin 19.3% 18.2% 17.8% 110 bps 100 bps 140 bps 17.8% 18.4% -50 bps -40 bps
Page 21
SEGMENT PERFORMANCE Other Solutions Q3 2026 HIGHLIGHTS Aroma Performance net sales increased by 10% organically year-on-year, driven by higher volumes EBITDA margin of -0.6% declined in the third quarter of 2026 on an organic basis, compared to the third quarter of 2025, primarily reflecting higher input costs 21 Q3 2026 Net Sales (€ million) Year-on-Year 67 0 2 68 8 1 75 Underlying (€ million) Q3 2026 Q3 2025 Q2 2026 YoY change YoY organic QoQ change 9M 2026 9M 2025 YoY change YoY organic Net sales 75 67 79 12.3% 9.6% -5.4% 227 216 5.0% 6.2% Aroma Performance 75 67 79 12.3% 9.6% -5.4% 227 216 5.0% 6.2% EBITDA 0 5 8 -109.5% -108.9% -105.5% 11 19 -42.7% -44.3% EBITDA margin -0.6% 7.2% 10.5% -790 bps -820 bps -1110 bps 4.7% 8.6% -390 bps -430 bps Scope FX Price Q3 2025 Volume & mix Q3 2026Q3 2025 (constant scope & FX) Net sales increased by 10% organically year-on-year, driven by higher volumes
Page 22
€0.6 bn cash[1] €1.9 bn Underlying Net Debt €2.2bn Total cash & undrawn committed facilities [1] Total cash = cash & cash equivalents + other current & non current financial instruments [2] Gearing ratio: Underlying net debt / (underlying net debt + equity) [3] Net financial debt: Non-current financial debt + current financial debt – cash & cash equivalents – other financial instruments. STRONG FINANCIAL POSITION BBB S&P Stable outlook 1.7X NET DEBT leverage ratio[3] Strong Investment grade rating 24% GEARING[2] Baa1 MOODY’S Stable outlook 22 €1.6 bn undrawn committed facilities
Page 23
In € or $ million or in % €5 00 2026 2027 2028 Jun 2029 2030 2031 2032 2033 Jun 2034 $600 $600 €2.26bn[1] @4.65% Jun 2035 €600 €600 [1] The face value of USD-denominated bonds was converted to EUR using the EUR/USD exchange rate as of the end of September 2026(~1.14) BALANCED DEBT MATURITY PROFILE 5.85% 4.00% 3.38% 5.65% $ Senior note $ Senior note € Senior Note € Senior Note 23
Page 24
THIRD QUARTER 2026 REGIONAL SALES MIX AMERICAS ASIA-PACIFIC & REST OF THE WORLD EUROPE 1 3 41% industrial sites major R&I centers 29 4 net sales YoY 34% +4.1% industrial sites major R&I centers 11 3 net sales YoY 25% industrial sites major R&I centers5 14 net sales YoY 2 [1] [1] [1] [1] Net sales growth on an organic basis24 +10.7%+12.1%
Page 25
GLOSSARY ■ Cash flow from operating activities, or Operating cash flow are those generated from/(used by) the principal revenue-producing activities of the Group and other activities that are not investing or financing activities ■ EPS is earnings per share ■ ERP Rebuild Project Costs: This significant multi-year project aims at the harmonization of the ERPs used by the Syensqo Group and at implementing new technologies that will position the Group for sustained growth and efficiency. It will generate costs and capital expenditures over the next 4-5 years ■ Gearing ratio: Underlying net debt / (underlying net debt + Equity - Hybrid bonds in equity) ■ LTM: Last Twelve Months ■ Net financial debt: Non-current financial debt + current financial debt – cash & cash equivalents – other financial instruments. Underlying net debt reclassified as debt 100% of the hybrid perpetual bonds, considered as equity under IFRS. It is a key measure of the strength of the Group’s financial position and is widely used by credit rating agencies ■ Organic growth: growth excluding scope changes and forex conversion effects. The calculation is made by rebasing the prior period at the business scope and forex conversion rate of the current period ■ Return on Capital Employed (ROCE): the ratio between underlying EBIT (before adjustment for the amortization of Purchase Price Allocation - PPA) and capital employed. Capital employed consists of net working capital, tangible and intangible assets, goodwill, rights-of-use assets, investments in associates & joint ventures and other investments ■ Underlying figures adjust IFRS figures for the non-cash Purchase Price Allocation (PPA) accounting impacts related to acquisitions, for the coupons of perpetual hybrid bonds classified as equity under IFRS but treated as debt in the underlying statements, and for other elements to generate a measure that avoids distortion and facilitates the appreciation of performance and comparability of results over time ■ Underlying net financial charges include the coupons on perpetual hybrid bonds (accounted as dividends under IFRS, and thereby excluded from the income statement) ■ Underlying leverage ratio: the ratio between Underlying Net debt and Underlying EBITDA of the last 12 months