Page 1

Albemarle Reports Second - Quarter Results ALBEMARLEⓇ Second Quarter 2021 Highlights ( Unless otherwise stated , all percent changes are based on year - over - year comparisons ) ● CHARLOTTE , N.C. - Aug. 4 , 2021 - Albemarle Corporation ( NYSE : ALB ) today announced its results for the second quarter ended June 30 , 2021 . ● Contact : David Burke 980.299.5533 Net income of $ 424.6 million , or $ 3.62 per diluted share , including a gain on the sale of Fine Chemistry Services ( FCS ) business Adjusted diluted EPS of $ 0.89 , an increase of 4 % Net sales of $ 773.9 million , an increase of 1 % ; Net sales increased 5 % excluding FCS Adjusted EBITDA of $ 194.6 million , an increase of 5 % ; Adjusted EBITDA increased 13 % excluding FCS Full year 2021 outlook revised to reflect better than expected Lithium performance , lower interest expense and tax rates , offset by higher Bromine raw material costs and supply chain disruptions ; guidance updated to reflect sale of FCS Completed the sale of FCS on June 1 , 2021 , in a cash and stock transaction valued at ~ $ 570 million La Negra III / IV commissioning stage in process , commercial production expected to begin in first half of 2022 Outlook " Albemarle delivered another strong quarter , generating $ 195 million in adjusted EBITDA , driven by continued strength in demand for our Lithium and Bromine products , " said Albemarle CEO Kent Masters . " We are focused on executing our accelerated growth strategy . We are in the final stages of two lithium projects which are expected to double our nameplate capacity to about 175,000 metric tons , including La Negra III / IV where construction is complete and commissioning is progressing . We are firmly focused on advancing all our lithium projects to meet customer demand and accelerate profitable growth . " 1 The company continues to expect a modest improvement in operating performance compared to full year 2020 , assuming continued global economic recovery . Full - year 2021 net sales guidance is improved compared to previous guidance primarily due to increased Lithium sales and improving Catalysts trends offset by reduced expectations for the Bromine business as a result of higher raw material costs and supply chain disruptions . Revised EBITDA reflects higher net sales offset by higher corporate costs , primarily related to incentive compensation expense and foreign exchange . Higher EPS and net cash from operations reflects lower interest expense and tax rates . Net cash from operations is also expected to benefit from timing of working capital changes . Capital expenditures are trending near the high - end of the range , due to tighter labor markets and COVID - related travel restrictions in Western Australia . Pro forma revised guidance has been updated to reflect the sale of Albemarle's Fine Chemistry Services ( FCS ) business to W. R. Grace , which closed on June 1 , 2021 .