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1 © 2025 by Albemarle Corporation. All Rights Reserved. | 1 Albemarle Investor Presentation March 2025
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2 Forward-Looking Statements This presentation contains 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 of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as “anticipate,” “believe,” “estimate,” “expect,” “guidance,” “intend,” “may,” “outlook,” “scenario,” “should,” “would,” and “will”. Forward-looking statements may include statements regarding: our 2025 company and segment outlooks, including expected market pricing of lithium and spodumene and other underlying assumptions and outlook considerations; expected capital expenditure amounts and the corresponding impact on cash flow; actual market pricing of lithium carbonate equivalent and spodumene; plans and expectations regarding other projects and activities, cost reductions and accounting charges, and all other information relating to matters that are not historical facts. Factors that could cause Albemarle’s actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; timing and magnitude of customer orders; fluctuations in market pricing of lithium carbonate equivalent and spodumene; production volume shortfalls; increased competition and pressure to renegotiate contract terms; changes in product demand; availability and cost of raw materials and energy; technological change and development; fluctuations in foreign currencies; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest affecting global trade, the global economy and clean energy initiatives; changes in inflation or interest rates; volatility in the debt and equity markets; acquisition and divestiture transactions; timing and success of projects; expected benefits and expenses from new operating structure and asset optimization activities; performance of Albemarle’s partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under “Risk Factors” in Albemarle’s most recent Annual Reporton Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle’s website (investors.albemarle.com) and on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date ofthis press release. Albemarle assumes no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
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3 Non-GAAP Financial 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 other post- employment benefit (“OPEB”) items per diluted share, non-recurring and other unusual items per diluted share, adjusted effectiveincome tax rates, EBITDA, adjusted EBITDA (on a consolidated basis), EBITDA margin and adjusted EBITDA margin, and operating cash flow conversion are financial measures that are not required by, or presented in accordance with, accounting principles generally accepted in the United States, or GAAP . These non- GAAP measures should not be considered as alternatives to Net income (loss) attributable to Albemarle Corporation (“earnings”) or other comparable measures calculated and reported in accordance with GAAP . These measures are presented here to provide additional useful measurements to review the company’s operations, provide transparency to investors and enable period-to-period comparability of financial performance. The company’s chief operating decision maker uses these measures to assess the ongoing performance of the company and its segments, as well as for business and enterprise planning purposes. A description of other non-GAAP financial measures that Albemarle uses to evaluate its operations and financial performance, andreconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found on the following pages of this press release, which is also is available on Albemarle’s website at https://investors.albemarle.com. The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP , as the company is unable to estimate significant non-recurring or unusual items without unreasonable effort. The amounts and timing of these items are uncertain and could be material to the company's results calculated in accordance with GAAP .
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4 Leading the World in Transforming Essential Resources Albemarle Energy Storage 56% Albemarle Specialties 25% Ketjen 19% FY 2024 Net Sales ▪ A global leader with durable competitive strengths, including world-class assets, process chemistry expertise, deep innovation capabilities, a customer-centric market approach and responsible stewardship ▪ On track to deliver 15% volumetric growth — 15% CAGR Energy Storage volumes (2022-2027) ▪ Capitalizing on growth opportunities in electric vehicles and beyond — mobility, energy, connectivity, health ▪ Taking proactive steps to preserve long-term growth and maintain competitive position through cycle Albemarle by the Numbers1 Employees2 ~8,300 Customers ~1,900 Countries ~70 Active Patents >1,600 FY 2024 Net Sales $5.4B FY 2024 Adj. EBITDA Margin3 ~21% Production & R&D Facilities +25 Total Assets $17B 1 As of December 31, 2024, unless otherwise stated 2 Includes employees of consolidated JVs 3 See appendix for non-GAAP reconciliations
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5 Albemarle’s Strategic Framework Defining Our Performance Ambition Resilient Competitive Strengths to Navigate Market Conditions Providing Essential Elements to Critical Impact Areas High-Impact Innovation World-Class Resources Leading Process Chemistry People & Planet Steward Customer- Centricity Mobility Lead with Impact Purpose-Driven Growth Partner of Choice Stakeholder Value Energy Connectivity Health Albemarle leads the world in transforming essential resources into the critical ingredients for modern livingwith people and planet in mind.
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6 Advancing the future of movement by being a leading provider of materials that make mobility better and cleaner. Powering the energy transition to meet the rising needs so we can ensure the world has critical resources for years to come. Improving quality of life by making health safer and more attainable today, so the planet and future generations can continue to thrive. MOBILITY ENERGY CONNECTIVITY HEALTH Enabling an always-on world to make technology more consistent and reliable, so we can continue to innovate more efficiently. A Leading Provider of Lithium, Bromine and Other Essential Elements
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7 Harnessing Our Resilient Competitive Strengths to Navigate Market Conditions World-Class Resources ▪ Diverse global portfolio of world-class resources, with vertical integration ▪ Access to multiple large-scale, high-grade lithium and bromine resources Leading Process Chemistry High-Impact Innovation Customer-Centricity People & Planet Steward ▪ Deep technical and operational know-how to transform essential resources ▪ Key to achieving productivity improvements – safely and sustainably ▪ Advanced solutions tailored to customer and market needs ▪ Research, testing and piloting facilities in US and EU ▪ Reliable and trusted partner with global expertise and local experience ▪ Partnerships to facilitate innovation and mutual growth ▪ Responsible corporate citizen focused on sustainability, community engagement, and industry-leading best practices
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8 0 50 100 150 200 250 300 350 400 450 500 2015 2020 2025 2030 17% learning rate Observed prices 1 Source: EV Volumes registrations data as of February 11, 2025 2 Source: ICC ESS battery production data through December 31, 2024 3 Source: BloombergNEF (“BNEF”) “Lithium-Ion Batteries: State of the Industry 2024” November 14, 2024 Near-Term Market Is Dynamic, Long-Term Lithium Demand Drivers Intact Will provide updated long-term supply and demand views with Q1 2025 results, incorporating our views of recent market developments Demand ▪ Lithium remains critical to the energy transition ▪ EV registrations up 25% Y/Y in 20241; strong growth in China partly offset by slower expansion in W. Europe ▪ Battery costs below $100/kWh pack average, supporting EV affordability ▪ Grid demand outperforming, up 49% Y/Y in 20242, driven by installations in US and China Supply ▪ Recent additional supply curtailments both upstream and downstream ▪ Non-integrated hard rock conversion unprofitable, integrated producers likely under pressure ▪ ~25% of global resource cost curve estimated to be unprofitable, with costs above current market prices Lithium-ion Battery Pack Price3 ($/kilowatt-hour, real 2023) 2015-2030 Global avg. on track for cost-parity with ICE ($100/kWh) 2025-2026
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9 Our Strategic Framework is Unchanged; Adapting Execution Customer-Centric Innovation ▪ Developing next-generation polymeric flame retardants ▪ Optimizing conversion facilities to meet changing market needs at minimal capital expense Preserve Resource Advantage ▪ Salar Yield Improvement Project achieved 50% operating rate milestone, ramping to nameplate capacity ▪ JBC’s Project NEBO – incremental CapEx spend that recycles an existing waste stream to improve sales, costs, and sustainability ▪ Greenbushes CGP3 1st ore expected in Q4 2025 Improve Cost Competitiveness ▪ Leveraging continuous improvement and lean manufacturing principles to reduce waste and increase productivity ▪ Phased, multi-year investment at JBC to improve our bromine cost position Reduce Capital Intensity ▪ Estimated FY 2025E capex of $700M to $800M, a >50% reduction Y/Y; prioritizing HSE, continuity, and cost reduction projects ▪ Ramp existing expansions at La Negra, Kemerton, Meishan, Qinzhou; continue to leverage tolling network Adjusting cost structure to generate higher returns over time 9
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10 1 Defined as Operating Cash Flow divided by Adj. EBITDA, which is a non-GAAP measure; 2025E target includes customer prepayment Broad Set of Actions Underway to Maintain our Long-term Competitive Position Optimizing Conversion Network Improving Costs and Efficiency Reducing Capital Expenditures Enhancing Financial Flexibility Actions Taken in 2024 • Significantly reduced footprint at Kemerton (Trains 2, 3, 4) • Meishan ramp progressing ahead of schedule • Announced proactive measures to re-phase growth investments, optimize cost structure, unlock cash flow • Streamlined org. structure, reducing management layers and non-manufacturing roles • Re-phased capex to maintain growth while preserving cash • Reduced sustaining capex • FY 2024 capex decrease of >$450M Y/Y • $2.3B preferred stock offering to fortify balance sheet • Proactively amended credit agreement and extended waiver to navigate near-term dynamics • Established A/R factoring program 2025 Actions ▪ Kemerton 1 continuing ramp and qualification ▪ Salar Yield Improvement Project continues to ramp to nameplate ▪ Chengdu into care and maintenance + Qinzhou mix shift ▪ On track to achieve 100% run rate of cost and productivity improvements of $300M to $400M by YE 2025 ▪ Reduced sustaining capex; continue safety and critical maintenance projects ▪ Estimated FY 2025E capex spend of $700M to $800M; down >50% Y/Y • Targeting FY 2025E op. cash conversion of >80%1 • Line of sight to breakeven 2025 FCF Potential Upside or Mitigation Actions ▪ Maximize value of world-class resources ▪ Flexibly adjust product mix through conversion network ▪ Faster ramp of new assets ▪ Accelerate existing productivity programs ▪ Further reduce capital intensity ▪ High return, fast payback projects to debottleneck and/or lower costs ▪ Ongoing working capital reductions
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11 Optimizing our Global Network Project Developments Shifting market underscores need for globally diversified conversion with product flexibility Preserving and maximizing the value of our advantaged, low-cost resources Salar Yield Improvement Project achieved 50% operating rate milestone, ramping to nameplate capacity Greenbushes CGP3 1st ore expected in Q4 2025; technical studies to optimize mine operations underway Phased, multi-year investment at JBC to improve our bromine cost position Leveraging High Quality Resource Base Optimizing Conversion Footprint Flexible Global Portfolio of Conversion Assets Record production at La Negra in FY 2024 Meishan achieved first commercial sales, ahead of schedule Placing Chengdu into care and maintenance by mid-year 2025 Shifting a portion of Qinzhou production from hydroxide to carbonate Kemerton 1 first BG commercial sales commenced in Q1 2025 Extensive tolling network provides additional flexibility in terms of both operations and product mix Greater ability to pivot across both carbonate and hydroxide products as market develops and matures Globally diverse portfolio with access to all major markets
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12 On Track to Realize $300-400M of Cost & Productivity Benefits Manufacturing Cost Opportunity $150- 250M $150M ~$150M $150- 250M Non-Manufacturing Cost Opportunity Cost reduction Energy efficiency Waste reduction Contractor optimization Maintenance savings Increased volume Plant ramps Debottlenecking Yield improvements Availability gains Org efficiency Optimize management layers and spans of control Operating structure Fully functional model, designed to consolidate activities and reduce duplicative work Back-office services Shift more activities into our established hubs Leverage technology One-instance ERP platform, digitalization, automation Key leversKey levers Establishing culture of continuous cost and productivity focus Robust Benchmarking of Non-Manufacturing Cost Benchmarked vs. peers in lithium, specialty chemicals and integrated extraction industries Ended 2024 at >50% run-rate, on track to achieve 100% run- rate by YE 2025 12
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13 Lowering capital-intensity levels while maintaining long-term competitive position and optionality Driving Capital Expenditures Down >$800M Y/Y $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 2023 2024 2025E¹ Other Growth Conversion Growth Resources Sustaining and Productivity $2.1B $700M - $800M 1 As of February 12, 2025 $1.7B Disciplined Capital Allocation to Maintain Core, Industry-Leading Assets & Resources Target sustaining capex of 4-6% of net sales on a normalized basis Reducing >50% Y/Y ▪ Further optimization of FY 2025E capital expenditures after detailed project review ▪ Prioritizing HSE, continuity, and cost reduction projects ▪ Phased approach to maintaining world-class resource base ▪ Pursuing high-return, short-payback brownfield expansions and productivity improvements 13
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14 Disciplined operating model to scale and innovate, accelerate profitable organic growth, and advance sustainability A global leader with durable competitive strengths, including world-class assets, process chemistry expertise, deep innovation capabilities, a customer- centric market approach and responsible stewardship Taking proactive steps to preserve long-term growth and maintain competitive position through cycle Capitalizing on long-term secular growth opportunities supporting the clean energy transition and enhanced mobility, connectivity, and health Strengthening our competitive position, enhancing our financial flexibility , and positioning us for the market today and tomorrow
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Albemarle leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. We are committed to building a more resilient world. 16
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17 Our Values Albemarle’s six core values help us achieve our corporate purpose to enable a more resilient world. Care We improve the safety and support the well- being and resilience of our communities, employees and environment. Humility We share the credit and value the ideas of others to achieve goals together. Curiosity We continuously learn and are comfortable taking informed risks to innovate. Collaboration We work together, value each other and encourage diverse thought to drive better outcomes. Accountability We act with courage to take ownership for what matters and responsibly deliver results. Integrity We do what we say with honesty and transparency for the benefit of all.
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18 Xinyu, China Wodgina, Australia Kemerton, Australia Greenbushes, Australia La Negra, Chile JV 1 Map is representative of Albemarle’s global reach; not inclusive of all the company’s sites Meishan, China Qinzhou, China JV Salar de Atacama, Chile Antofalla, Argentina Safi, Jordan Twinsburg, OH, U.S. Kings Mountain, NC, U.S.New Johnsonville, TN, U.S. Silver Peak, NV, U.S. Langelsheim, Germany Taichung, Taiwan R P JV R P R P P P P P P P P P P R R R P R P Magnolia, AR, U.S. R P Baton Rouge, LA, U.S. P P P = Proposed = Specialties = Energy Storage = Ketjen JV = Joint Venture = Hard Rock = Brine R = Resource P = Production Expanding Global Footprint – Strong Presence in Major Markets1
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19 Kent Masters Chairman and Chief Executive Officer New Operating Structure Drives Agility, Cost-Out & Long-Term Competitiveness Melissa Anderson Chief People and Transformation Officer Stacy Grant General Counsel, Corporate Secretary and Chief Compliance Officer Netha Johnson Chief Operations Officer Cynthia Lima Chief External Affairs and Communications Officer Mark Mummert Chief Capital, Resources and Integrated Supply Chain Officer Eric Norris Chief Commercial Officer Neal Sheorey Chief Financial Officer Reflects oversight of people, strategy and transformation Adds oversight responsibility for product stewardship Oversees enterprise product management, sales and commercial excellence Adds oversight for information technology, global business services and real estate Leads global manufacturing, research and technology, capital projects and process chemistry execution Expands responsibility for resources, joint venture management, customer service and operational excellence Oversees legal, enterprise risk management and compliance
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20 Laurie Brlas Former EVP & CFO, Newmont Mining Glenda Minor Former SVP & CFO, EvrazNorth America Jim O’Brien Former Chairman & CEO, Ashland Dean Seavers Former President, National Grid U.S. Diarmuid O’Connell Former VP, Corp & Business Development, Tesla Motors Holly Van Deursen Former Group VP, Petrochemicals, BP Jerry Steiner Former EVP, Sustainability & CorporateAffairs, Monsanto Kent Masters Chairman & CEO, Albemarle Alex Wolff Former U.S. Ambassador to Chile Hispanic 10% Black 20% White 70% Female 30%Male 70% Average Tenure 6+ years Ralf Cramer Former President and CEO, Continental China Engaged, Diverse, and Accountable Board of Directors C C C C C Racial Diversity1 Gender Diversity1 Audit & Finance Committee Executive Compensation & Talent Development Committee Nominating & Governance Committee Capital Investment Committee Sustainability, Safety & Public Policy Committee Committee Chairperson C 1 Statistics are based on each director's self-identified characteristics. Updated from Proxy
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21 Our Financial and Operational Actions Have Provided the Flexibility toNavigateDynamicBusiness Conditions $1,190 $10,200 $3,520 $1,190 $1,500 $100 Revolver Other Credit Lines Cash & Cash Equivalents Total Equity 1 As of December 31, 2024 2 As defined in amended credit agreement, dated October 2024, see Appendix Capital Structure1 Total Liquidity: $2.8B1 ▪ ~$1.2B of cash & cash equivalents1 ▪ Full commercial paper capacity available for liquidity ($1.5B) ▪ Q4 2024 net debt to adjusted EBITDA was 2.6x2, well below covenant limit of 4.0x ▪ Amended financial covenants in revolving credit facility in Oct; covenant limit rises to 5.75x in Q2 2025, normalizing to 3.5x in 2H 2026 ▪ Long-term debt has weighted average interest rate of 3.6% (100% fixed); no major maturities due until late-2025 Cash & Cash Equivalents Total Debt
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22 38% 50% 37% 62% >80% FY '21 FY '22 FY '23 FY '24 FY '25E Operating Cash Flow Conversion1 1 Defined as Operating Cash Flow divided by Adj. EBITDA; historical average represents the average operating cash flow conversion over 2021-2024; for comparability, 2023 figures presented under adjusted EBITDA definition adopted by the company beginning in 2024; 2025E target includes customer prepayment Strong Focus on Cash Improvements Yielding Results ▪ FY 2025E operating cash conversion expected to be >80%, well above historical average1, driven by: 1. $350M customer prepayment in Energy Storage secured in January 2. Ongoing working capital improvements, including inventory management ▪ Talison JV cash dividends will be highly constrained in 2025 due to growth capital spending and lower spodumene prices ▪ Cost and productivity actions improve long-term cash conversion despite short-term implementation cash costs ▪ Enhancing cash conversion by optimizing capacity, managing inventory, and opportunistic bidding events and spodumene sales ▪ Line of sight to breakeven FCF in 2025 at current prices assuming execution of cost and productivity improvements, continued cash conversion improvements, and reduced CapEx spend Long-term target 60-70% 22
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23 All the Elements for a Better World As a purpose-driven and values-led organization, sustainability is core to who we are and how we operate, and this report is a demonstration of our ongoing commitment to creating a more resilient world.” Kent Masters Chairman and CEO Looking ahead: decarbonization roadmap Expanding our life cycle assessments (LCAs) Updates on DEI strategy and progress Continued progress on environmental goals New double materiality assessment
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24 Double Materiality Assessment In 2023, we undertook a double materiality1 assessment, at the consolidated level, to identify the sustainability issues that matter most to our business and stakeholders. 1 For purposes of our sustainability reporting, the concept of “material” topics identified through “materiality assessments” generally refers to ESG reporting guidance such as GRI and SASB and does not correspond to the concept of materiality used in the securities laws and disclosures required by the US Securities and Exchange Commission (SEC). With respect to the term “material,” individual companies are best suited to determine which information is material under the long-standing U.S. Supreme Court definition of that term, and whether to disclose this information in SEC filings. New and updated topics identified through this assessment include: Environmental Social Governance Energy, Greenhouse Gas (GHG) Emissions and Climate Responsible Water Management Pollution Management Waste and Circularity Health and Safety Human Rights and Labor Practice Local Community Engagement Talent and Culture Ethics and Compliance Innovation Responsible Sourcing How sustainability issues impact our business and how our business impacts the world around us
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25 Our Focus on Sustainability Has Earned Recognition ▪ In 2023, Albemarle received 10 ACC Responsible Care® Awards for health, safety and environmental areas of focus. ▪ 4th consecutive inclusion in the Bloomberg Gender-Equality Index. ▪ MercLok P-640, Albemarle’s mercury remediation solution, was named an R&D 100 winner by the Business Intelligence Group. This award recognizes leading edge products and technologies that can contribute to a better world. ▪ In February 2024, Albemarle was named to the 2024 list of America’s Most JUST Companies (JUST 100) by JUST Capital and CNBC. The JUST 100 rankings measure how the nation’s largest corporations are performing on business issues that matter most to Americans, including protecting customer privacy, minimizing pollution, supporting employee training and more. ▪ Albemarle’s Environmental Management Information System (EMIS) was awarded the Verdantix 2023 EHS Innovation Excellence Award in the compliance digitization category. 73/100
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26 Lithium 0.4 Cathode 2 Battery 4 Vehicle 11 Lithium’s Contribution to Reduced Automotive Life Cycle Emissions1 EV life cycle emissions are significantly less than ICE emissions and…. …lithium production represents <4% of EV GHG production emissions Life Cycle Avoided GHG Emissions (Avg EV Sedan, Based on 2023 Global Electric Grid) Lithium’s Contribution to GHG Emissions from EV Production (CO2e tonnes) 1 Source: Albemarle Analysis, MIT Trancik Lab, GREET 2023 34k km breakeven point Lifecycle
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27 Current Public Environmental Targets: GHG, Water, Air Quality C U R R E N T G O A L S T A T U S GHG Grow our Energy Storage business in a scope 1 + 2 carbon-intensity neutral manner through 2030 (vs 2019) Ahead Reduce scope 1 + 2 carbon-intensity of Specialties by 35% by 2030 (vs 2019) in alignment with science-based targets On track on an absolute basis; behind on an intensity basis Reduce scope 1 + 2 carbon-intensity of Ketjen by 35% by 2030 (vs 2019) in alignment with science-based targets On track on an absolute basis; behind on an intensity basis Engage with suppliers to collect primary data for 75% (by 2023) and 90% (by 2024) of our raw material carbon footprint in preparation for a scope 3 reduction target On track Water Reduce the intensity of freshwater usage by 25% by 2030 (vs 2019) in Chile and Jordan On track
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28 Energy Storage One of the world’s largest producers of lithium for battery applications – including electric vehicles ▪ World-class resources ▪ Long-term agreements with strategic partners ▪ Innovating mine-to-market; differentiating technology in extraction and conversion Specialties Diverse portfolio of highly specialized lithium and bromine solutions ▪ World-class resources ▪ Diverse end-market demand ▪ Strong track record of capital project execution ▪ New product innovations offer added growth opportunities Ketjen A leader in refining and petrochemical catalysts ▪ Global portfolio of best-in-class assets ▪ Extensive product application and technical know-how ▪ Sustainable solutions to improve resource efficiency (FCC) and reduce emissions (CFT) ▪ Strong, long-term relationships with customers, partners, and licensors 1 As of 2024, adjusted EBITDA definition includes Albemarle’s share of the pre-tax earnings of the Talison joint venture; previous years are presented under this updated adjusted EBITDA definition for comparative purposes. $1.1 $4.7 $7.1 $3.0 2021A 2022A 2023A 2024A $0.4 $3.4 $3.2 $0.8 2021A 2022A 2023A 2024A Net sales ($B) Adj. EBITDA1 ($B) / % margin1 38% 72% 45% $1.4 $1.8 $1.5 $1.3 2021A 2022A 2023A 2024A $0.5 $0.5 $0.3 $0.2 2021A 2022A 2023A 2024A $0.8 $0.9 $1.1 $1.0 2021A 2022A 2023A 2024A $0.1 $0.0 $0.1 $0.1 2021A 2022A 2023A 2024A 33% 30% 20% Net sales ($B) Adj. EBITDA ($B) / % margin 14% 3% 10% Net sales ($B) Adj. EBITDA ($B) / % margin Attractive Diversification Across the Portfolio 28 25% 17% 13%
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29 Leader in Lithium Processes Continuous improvement through optimization, efficiency, technology advancements Brine Ponds 6% Li Concentrate0.01- 0.30% Li Hard Rock Battery and Technical Grade Lithium Carbonate Mines 6% Li2O Concentrate 0.5- 2.5% Li2O Greenbushes, Wodgina, Kings Mountain* Xinyu, Qinzhou, Kemerton, Meishan Salar de Atacama, Silver Peak, Antofalla*, Magnolia* La Negra, Silver Peak *Not currently in operation Resource Extraction Lithium ProductsLithium Conversion Battery and Technical Grade Lithium Hydroxide Battery Grade Metal Battery and Technical Grade Lithium Hydroxide Kings Mountain Option to convert to Hydroxide or Carbonate via 3rd party tolling Optional further processing to produce hydroxide
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30 Industry-Leading Technology Innovations from Mine to Market Resource and Conversion ▪ Maximizing recovery at the wellhead, pond, and conversion stage, +>70 ktpa potential ▪ Improving existing resources and accessing non- conventional with Direct Lithium Extraction (DLE) ▪ More sustainable resource management with lower energy, water, and GHG Battery Materials ▪ Developing differentiated lithium for safer, higher performance applications, with 2-3x higher contribution margin ▪ Maximizing use of Li through more efficient battery technology: lithium metal anode, prelithiation, lithium sulfide Customer Alignment ▪ Breakthrough OEM opportunities for >50% more EV range with battery material innovation ▪ Close collaborations and co- development partnerships for tailored materials and faster time-to-market 30
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31 Bromine Concentration2 Industrial Cost Curve for Elemental Bromine2 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 Seawater China India Concentrate Arkansas Dead Sea Concentrate 2021 Estimated Capacity (kT) 0 100 200 300 400 500 600 700 Dead Sea Arkansas, U.S. India China & Japan (ppm) Relative Production Cost 800 Djibouti Albemarle operates from two world-class bromine resources: Arkansas, U.S. Highly integrated and specialty focused - drives product flexibility and profitability Dead Sea, Jordan Jordan Bromine Company1 (JBC) - operated and marketed by Albemarle 31 Access to Highly Concentrated Bromine 1 Joint Venture with Arab Potash Company (APC). 2 Based on management estimates.
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32 Competitive Capabilities: Research & Technology New Product Innovation ▪ Market research driven ▪ Strong IP positions ▪ World-class collaborators ▪ Platform approach ▪ Expanded applications capabilities in targeted areas Diverse and Healthy New Product Pipeline SA YTEX ALERO ▪ Polymeric flame retardant (stable, large molecule) ▪ Excellent stability improves recyclability of flame-retardant plastic ▪ Superior environmental profile ▪ Broad and growing target end markets including electronics, appliances, automotive ▪ Initial customer qualifications complete MercLok ▪ Remediates mercury in contaminated soils and sediments ▪ Large market opportunity (~$200M in the US alone) ▪ Multiple field pilots completed ▪ Commercially launched in US market December 2022 ▪ Potential platform for additional environmental remediation products Lithium Specialties integration expected to bring new synergistic programs
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Appendix: Non-GAAP Reconciliations
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34 Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Net income attributable to Albemarle Corporation before non-recurring, other unusual and non-operating pension and OPEB. Adjusted Diluted EPS Diluted EPS before non-recurring, other unusual and non-operating pension and OPEB. EBITDA Net income attributable to Albemarle Corporation before interest and financing expenses, income taxes, and depreciation and amortization. Adjusted EBITDA EBITDA before non-recurring, other unusual and non-operating pension and OPEB. Adjusted Effective Income Tax Rate Reported effective income tax rate before the tax impact of non-recurring, other unusual and non-operating pension and OPEB items.
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35 (a) Operating cash flow conversion is defined as Net cash provided by operating activities divided by adjusted EBITDA. See above for a reconciliation of EBITDA and adjusted EBITDA, the non-GAAP financial measures, to Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with GAAP. EBITDA and Adjusted EBITDA ear Ended hree onths Ended December December 4 4 1,5 ,4 6 (1,1 9,449) (61 ,6 0) 5,29 Net income (loss) attributable to Albemarle Corporation Add back: 116,0 2165,619 4, 644, 0 Interest and financing expenses 4 0,2 ,0 511 , 10,61 Income tax expense 429,9445 ,6 144,14 16 ,106Depreciation and amorti ation 2,549, 69( ,10 )( 20,2 )29 , 15EBI DA 9, 0 299,19 1 0,05 6,201Proportionate share of Windfield income tax expense ( ,9 1)(11, 5)(9, 04)(10, 42)Non operating pension and OPEB items 224,4 1,190,02 15,090( , 90)Non recurring and other unusual items ,545,9 1,1 9, (1 4,9 0) 250,6 4Ad usted EBI DA 9,61 ,20 5, ,526 2, 56,165 1,2 1, 1 et sales 26.5 (6. ) (1 .6) 2 . EBITDA margin 6.9 21.2 (5. ) 20.4 Adjusted EBITDA margin 1, 25, 21 02,06 Net cash provided by operating activities .4 61.6 Operating cash flow conversion(a)
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36 1 This supplemental is for net-debt-to-adjusted EBITDA ratio based on the bank covenant definition. welve onths Ended hree onths Ended ar 4 un 4Sep 4Dec 4Dec 4 4 4 Ad usted EBI DA ( , 21)( , )(1, 92)(4,9 2)(22,46 )E uity in net income of unconsolidated investments (net of tax) 1, 569,4 02,46210,5 624,264Dividends received from non Windfield oldings unconsolidated investments 4 4 4Consolidated indfield Ad usted EBI DA otal ALB Long erm Debt as reported 61 , 2149 Windfield oldings debt 115, 00Off balance sheet obligations and other 4 4 Consolidated indfield Ad usted Funded Debt 1,192,2 0Less ALB Cash 119,19 Less 49 Windfield oldings cash 4 Consolidated indfield Ad usted Funded et Debt . Consolidated Leverage Ratio Adjusted EBITDA supplemental1
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37 www.albemarle.com