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POSCO FUTURE M 3Q 2026 Earnings Release
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DISCLAIMER This presentation was prepared and circulated to release the information regarding the company’s business performance to shareholders and investors prior to the completion of auditing for the period of the 3rd quarter, 2026. As figures in this presentation are based on unaudited financial statements, certain contents may be subject to modification in the course of auditing process. All financial information contained in this document is prepared under K-IFRS. This presentation contains certain forward-looking statements relating to the business, financial performance and results of the company and/or the industry in which it operates. The forward-looking statements set forth herein concern future circumstances and results and other statements that not historical facts, and are solely opinions and forecasts which are uncertain and subject to risks. Therefore, the recipients of this presentation shall be aware of that the forward-looking statements set forth herein may not correspond to the actual business performance of the company due to changes and risks in business environments and conditions. The sole purpose of this presentation is to assist persons in deciding whether they wish to proceed with certain investments to the company. The company does not make any representation or warranty, expressly or impliedly, as to the accuracy and completeness of this presentation or of the information contained herein and shall not have any liability for the information contained in this presentation.
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Table of Contents I. 3Q 2026 Consolidated Business Result ▪ Consolidated Business Results ▪ Consolidated Financial Results ▪ Business Performance by Division II. Appendix ▪ Energy Materials Capacity Status ▪ Mid-Term Business Strategy ▪ Key Cathode Materials Trend ▪ Consolidated P&L by Division
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Consolidated Business Results Summary Income Statement Total Sales : KRW 835 bn Operating Profit : KRW 82 bn OPM : 9.8 % Sales : KRW 460 bn Operating profit : KRW 52 bn (KRW bn) 3Q25 2Q26 3Q26 QoQ YoY Sales 875 680 835 +155 △40 Energy Materials 533 328 460 +132 △73 Base Materials 342 352 375 +22 +33 COGS 750 589 715 +126 △35 Gross Profit 125 91 120 +29 △5 Operating Profit 67 27 82 +55 +15 (OPM) 7.6% 3.9% 9.8% +5.9%p +2.2%p Non-Operating Profit △9 △1 △22 △21 △13 Equity method P&L* △5 2 2 - +7 Net Profit 46 25 46 +21 - (NPM) 5.3% 3.6% 5.6% +2.0%p +0.3%p EBITDA 119 80 136 +56 +17 Financial Appendix Energy Materials Sales : KRW 375 bn Operating Profit : KRW 30 bn Base Materials POSCO Future M Earnings Release |Nov. 2, 2026
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Summary Balance Sheet Financial Appendix Consolidated Financial Results (KRW bn) 3Q25 2Q26 3Q26 QoQ YoY Assets 9,124 9,608 9,082 △526 △42 Cash & Cash Equivalents 837 637 573 △64 △264 Account Receivables 685 573 518 △55 △167 Inventories 847 743 645 △98 △202 Tangible Assets 5,902 6,743 6,547 △196 +65 Liabilities 4,650 4,894 4,640 △254 △10 Account Payable 268 250 186 △64 △82 Interest Bearing Debts 3,818 4,076 4,028 △48 +210 Equity 4,474 4,714 4,442 △272 △32 Common Stock 45 45 45 - - Additional Paid-in- Capital 2,556 2,556 2,556 - - Hybrid Bond 599 599 599 - - Assumulated Other Comprehensive income 60 245 △22 △267 △82 Retained Earnings 798 768 805 +37 +7 Net Borrowing 2,981 3,439 3,455 +16 +474 Net Working Capital 1,264 1,066 905 △161 △359 (Unit : KRW bn) (Unit : KRW bn) Equity D/E Ratio(%) D/E Ratio Net debt Net debt Ratio(%) Net debt ratio POSCO Future M Earnings Release |Nov. 2, 2026 4,474 4,714 4,442 25 3Q 26 2Q 26 3Q 104 104 104 2,981 3,439 3,455 25 3Q 26 2Q 26 3Q 67 73 78
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48 △61 △1 3 52 Energy Materials ▪ Cathode : Recovery in sales volume to existing customers and higher selling price ▪ Anode : Sales volume increase to overseas customers despite downward pricing pressure in China Sales P&L ▪ Cathode : Increase in sales volume and recognition of compensation from customers for non-fullfillment ▪ Anode : Profit decline due to recognition of inventory valuation losses Financial AppendixBusiness Performance by Division POSCO Future M Earnings Release |Nov. 2, 2026 508 198 419 300 433 25 22 15 28 27 533 220 434 328 460 25 3Q 25 4Q 26 1Q 26 2Q 26 3Q Cathode Anode 25 3Q 25 4Q 26 1Q 26 2Q 26 3Q 8.9% △27.9% △0.3% 0.8% 11.3%(Unit : KRW bn) (Unit : KRW bn) Sales Operating Profit
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Base Materials ▪ Refractories/Plant : Selling price decline for refractories and Decrese in sales volume ▪ Lime Chemicals : Higher selling price for oil-linked chemical products and Increased lime sales volume Sales P&L Financial AppendixBusiness Performance by Division ▪ Refractories/Plant : Profit increase driven by the absence of one-off expenses recognized in the previous quarter ▪ Lime Chemicals : Reduction in fixed cost per unit driven by higher lime production volume POSCO Future M Earnings Release |Nov. 2, 2026 212 216 211 237 274 130 122 113 115 101 342 338 324 352 375 25 3Q 25 4Q 26 1Q 26 2Q 26 3Q Lime Chemicals Refractories/Plant 25 3Q 25 4Q 26 1Q 26 2Q 26 3Q 19 9 19 24 30 5.7% 2.8% 5.8% 6.9 % 8.1% Sales (Unit : KRW bn) Operating Profit (Unit : KRW bn)
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LFP 전환 진행 중 Financial Appendix Precursor 45kt China Zhejiang POSCO- HUAYOU(Cathode) 25kt Zhejiang HUAYOU- POSCO(Precursor) 30kt Canada 33kt Vietnam 90kt 55kt Pohang 60kt 45kt Overseas SitesDomestic Sites Sejong Natural Graphite 74kt Pohang Artificial Graphite 13kt Energy Materials Capacity Status Building out Domestic and Overseas production sites and Proceeding with Cathode Material Line Conversion from NCM/NCA to LFP Global Automaker Long - term Contract (Oct.2025, KRW 0.7tn) Establishment of Non - PFE Supply Chain 37kt Saemangeum Spherical Graphite * Under Construction Global Automaker Long - term Contract (Mar.2026, KRW 1.0tn) Artificial Graphite Undisclosed * Under Construction Ultium Cam(Cathode) * Under Construction G M Joint Venture Cathode Material Plant(Phase 1) Cathode Material Plant(Phase 2) * Under Construction Ongoing Conversion to LFP Cathode Projected at 105kt · Secured off-take volumes of CNP New Materials Technology (‘27.4Q~) · Additional Line conversion will be implemented to meet incremental LFP orders Kwang yang Kwang yang Cathode Material Plant(Phase 1&2) Cathode Material Plant(Phase 3) * Under Construction
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Leap to Irreplaceable Battery Materials Company through China-free Supply Chain and Technological Leadership Signed Agreement to adopt Palantir AI Platform ( Development Duration↓ / Productivity↑ / Inventory↓/ Leading Manufacturing Standardization) Securing Early Supply at Pohang plant Artificial Graphite Anode Expanding Investment in Vietnam Subsidiary Leading the North American Artificial Graphite Anode Market Natural Gas based Low-cost/High-density Natural Graphite Artificial Graphite: Commercialization of Continuous Graphitization Process (Power Consumption-80%, Processing Cost-40%) Early martket entry through Domestic Line Conversion LFP Cathode Developing High-density LFP Cathode Leading the Non-PFELFP Cathode Market Securing Cost Leadership (Commercialization of Precursor-free Process) R&D Capabilities Preparing Mass Production of No.1 Cathode Materials for ASSB Process Innovation and Early positioning for Next-Gen products AI-Driven Business Transformation Financial AppendixMid-Term Business Strategy Timely Market Entry through Development of SIB Cathode and Anode Materials
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Key Raw Materials trend * Average of KOR, CN, JP Lithium Carbonate 99.5% (FastMarkets) AppendixFinancial POSCO Future M Earnings Release |Nov. 2, 2026 8 21 18 18 16 22 20 58 55 - 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 ' 21. 3 6 9 12 ' 22. 3 6 9 12 ' 23. 3 6 9 12 ' 24. 3 6 9 12 ' 25. 3 6 9 12 ' 26. 3 6 9 Lithium Carbonate(FastMarkets) Nickel(LME) Cobalt(FastMarkets) 43 (단위:$/kg) 82 81 38 57 7 18 38
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Consolidated P&L by Division (KRW bn, %) FY2022 FY2023 FY2024 FY2025 FY2026 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Sales 3,302 4,760 1,138 916 923 723 3,700 845 661 875 558 2,939 758 680 835 Energy Materials 1,938 3,362 782 593 583 382 2,340 506 315 533 220 1,574 434 328 460 Cathode 1,722 3,140 732 543 558 352 2,186 467 273 508 198 1,446 419 300 433 Anode 216 222 49 50 25 30 154 39 42 25 22 128 15 28 27 Base Materials 1,364 1,398 357 322 340 341 1,360 339 346 342 338 1,365 324 352 375 Operating Profit 166 36 38 3 1 △41 1 17 1 67 △52 33 18 27 82 5.0% 0.8% 3.3% 0.3% 0.2% △5.7% 0.0% 2.0% 0.1% 7.6% △9.3% 1.1% 2.3% 3.9% 9.8% Energy Materials 151 △12 25 1 △16 △47 △37 2 △26 48 △61 △37 △1 3 52 7.8% △0.3% 3.2% 0.2% △2.7% △12.4% △1.6% 0.5% △8.1% 8.9% △27.9% △2.3% △0.3% 0.8% 11.3% Base Materials 15 48 13 2 17 6 38 15 27 19 9 70 19 24 30 1.1% 3.4% 3.6% 0.4% 5.1% 1.8% 2.8% 4.4% 7.6% 5.7% 2.8% 5.1% 5.8% 6.9% 8.1% Net Profit 122 4 57 △11 △1 △276 △231 49 △35 46 △23 37 6 25 46 3.7% 0.1% 5.0% △1.2% △0.1% △38.1% △6.3% 5.8% △5.4% 5.3% △4.2% 1.2% 0.8% 3.6% 5.6% Financial Appendix POSCO Future M Earnings Release |Nov. 2, 2026