Slides
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Albemarle ( R ) Q2 2026 Earnings August 6 , 2026 8:00 am ET
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Forward-Looking Statements This presentation, conference call and discussions that follow contain 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 “ambition,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “may,” “out look,” “scenario,” “should,” “would,” and “will.” Forward-looking statements may include statements regarding: our 2026 company and segment outlooks, includi ng expected market pricing of lithium carbonate equivalent and spodumene; plans and expectations regarding customer demand and sales; production impacts; financial flexibility and optionality; expected or actual market pricing of lithium, spodumene, bromine, and lithium specialties (“Company Products”); supply and demand for Company Products; consumption of Company products; drivers of long-term demand and growth; the impact of geopolitical events on our supply chain and operations; other underlying assumptions and outlook considerations; expected capital allocation and expendi ture amounts and the corresponding impact on cash flow; expected impact of tariffs and other trade restrictions; long-term targets for operating cash flow conversion and other financial metrics; plans and expectations regarding other mining interests, resources, reserves, projects and activities, compou nd annual growth rate, cost reductions, conversion network optimization, margin improvement, accounting charges, and all other information relating to ma tters 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; changes in trade policies and tariffs; and the financial and operating performan ce of customers; timing and magnitude of customer orders; fluctuations in market pricing of lithium carbonate equivalent and spodumene; potential product ion volume shortfalls; increased competition and pressure to renegotiate contract terms; changes in product or conversion demand; availability and c ost of raw materials and energy; technological change and development; fluctuations in foreign currencies; changes in laws and government regulation; reg ulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; risks related to the integration of artificial intelligence technologies into our operations; geopolitical conflicts and political unrest affecting global trade, including conflict in the Middle East; the global economy and clean energy initiatives; our ability to retain key personnel and attract new skilled personnel; chang es in inflation or interest rates; volatility and uncertainties 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 Report on 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 of this presentation. Albemarle assumes no obligation to provide any revisions to any fo rward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws. 2
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Non-GAAP 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 effective income tax rates, EBITDA, adjusted EBITDA (on a consolidated basis), EBITDA margin and adjusted EBITDA margin, operating cash flow conversion, and free cash flow 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, and reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found in the appendix of this presentation, 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. 3
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Strong Start to 2026 Continues 1See appendix for non-GAAP reconciliations Focus on Operational Excellence Enables Solid Earnings & Cash Flow STRONG OPERATIONAL EXECUTION, DEMONSTRATED BY Q2 2026 RESULTS: Net sales of $1.7B (+31% Y/Y); higher pricing in Energy Storage and increased pricing and volumes in Specialties Adj. EBITDA1 of $858M (+155% Y/Y); driven by higher net sales in Energy Storage and Specialties and cost and productivity improvements Cash from ops. of $710M; Free cash flow1 of $638M Delivered ~$100M cost and productivity improvement run-rate in H1 2026; on track to reach the high end of $100-150M FY target STRONG END MARKET DEMAND: Energy Storage Systems (ESS) GWh production up 98% Y/Y in H1 Electric Vehicle (EV) GWh sales up 10% Y/Y in H1; larger battery sizes, strong European sales and increased Chinese exports offset lower domestic Chinese sales Global lithium consumption up 45% Y/Y through May, above our forecasted range of +15-40% growth IMPROVING FY 2026 OUTLOOK CONSIDERATIONS: Increasing Specialties net sales outlook to $1.4B-1.6B and raising adj. EBITDA outlook to $275M-325M to reflect higher pricing and volumes Reducing capital expenditures outlook to approximately $500M as a result of cost and productivity improvements DIVERSE PORTFOLIO OF WORLD CLASS RESOURCES PROVIDES OPTIONALITY AND GROWTH: Leveraging our decades of experience and existing infrastructure to support future growth at the Salar de Atacama through DLE Wodgina outperforming due to better-than-planned ore availability and recoveries, Greenbushes CGP3 remediation well underway restarted August 1 4
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Q2 2026 Q2 2025 Variance Net Sales $1,743 $1,330 +31% Net Income Attributable to Albemarle Corporation $480 $23 +1,996% Adjusted EBITDA1 $858 $336 +155% Adjusted EBITDA Margin1 49% 25% +2,390 bps Diluted Earnings (Loss) per Share Attributable to Common Shareholders2 $3.52 ($0.16) NM3 Non-recurring and Other Unusual Items $0.22 $0.27 Adjusted Diluted Earnings per Share Attributable to Common Shareholders1, 2 $3.75 $0.11 NM Q2 2026 Financial Summary 1See appendix for non-GAAP reconciliations. 2Includes the dilutive impact of mandatory convertible preferred stock 3Not meaningful (NM) 5 In millions, except per share amounts
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Q2 Adjusted EBITDA1 Bridges ($ in millions) Note: Numbers may not reconcile due to rounding. 1See appendix for non-GAAP reconciliations. 6 Q2 2026 vs 2025 Higher pricing in both segments; higher volumes in Specialties Y/Y – BY DRIVER Y/Y – BY SEGMENT $504 $45 ($27) $336 $858 Q2 2025 Energy Storage Specialties Corporate and All Other Q2 2026 $2 $561 ($152) $122 $15 $12 ($38) $336 $858 Q2 2025 Volume Price COGS Pre-tax Equity Income FX SG&A and R&D Other Q2 2026 Higher COGS Y/Y primarily reflects higher spodumene pricing and increased Chilean royalty payments, offset by higher equity income and cost and productivity improvements Energy Storage Adj EBITDA up Y/Y (+229%) on higher lithium pricing Specialties Adj. EBITDA up Y/Y (+61%) on higher pricing, product mix, and cost and productivity improvements Corporate and All Other reflects reduction in Adj. EBITDA due to the Ketjen refining solutions divestiture, partially offset by favorable FX impacts
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Maintaining Total Company 2026E Outlook Considerations1 1As of August 5, 2026. 2Lithium Carbonate Equivalent (LCE) price represents a blend of relevant market pricing including spot and regional indices for the periods referenced. 3The company does not provide the GAAP measures of net income, gross margin, or diluted earnings per share on a forward-looking basis, or a reconciliation of adjusted EBITDA or adjusted diluted earnings per share to such measure, respectively, because it is unable to estimate significant non-recurring or unusual items without unreasonable effort. See “Non-GAAP Measures” for more information. 7 OBSERVED LITHIUM MARKET PRICE SCENARIOS: (US$/kg LCE)2 Increasing Specialties outlook due to higher pricing and volume Maintaining total company outlook as productivity and other improvements are expected to offset higher raw material and supply chain costs Ranges include an estimated ~$70M-$90M unmitigated, full-year impact of supply chain disruptions related to the situation in the Middle East NET SALES ADJ. EBITDA3 ADJ. EBITDA MARGIN3 FY 2025A FY 2025 avg. $10 $5.1B $1.1B 21% FY 2025 avg. $10 FY 2026E $4.1B - $4.3B $0.9B - $1.0B Low-20% Q1 2026 avg. $20 FY 2026E $5.7B - $6.0B $2.4B - $2.6B Low-40% $7.5B - $7.8B $4.2B - $4.4B Mid-50% 2021-25 avg. $30 FY 2026E
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Q2 2026 Y/Y Net Sales $424 +20% Adj. EBITDA $118 +61% Adj. EBITDA Margin 28% +700 bps Specialties Overview Adjusted EBITDA Adjusted EBITDA Margin Q2 2026 Performance In Millions FY 2026 Outlook Considerations FY 2026 Net Sales $1.4B – $1.6B Adj. EBITDA $275M – $325M Adj. EBITDA Margin High-teens % 8 QUARTERLY PERFORMANCE DRIVERS Q2 net sales up 20% Y/Y due to higher pricing and volume; adj. EBITDA up 61%, due to higher pricing, product mix and cost and productivity improvements Q3 2026 net sales and EBITDA expected to be lower sequentially due to bromine price stabilization from its peak in April Jordan Bromine Company (JBC) operating in line with expectations as it navigates geopolitical tensions in the region FY 2026 OUTLOOK Increasing net sales and adj. EBITDA outlook based on strong year- to-date performance, driven by volume growth in bromine specialties; cost and productivity actions help offset Middle East-related supply chain disruptions H2 2026 outlook assumes stabilization of bromine market and continued uncertainties including the situation in the Middle East DRIVERS/SENSITIVITIES Electronics & semiconductors, building & construction, oil & gas, and pharmaceuticals remain key market segments served by the platform Geographic diversity complements the platform’s end-market diversity and adds resilience against regional volatility Bromine price exposure and Asia supply-demand balance – approximately ~15-20% of our sales track spot pricing in China Historical Trend (TTM) $261M $280M $276M $293M $338M 19% 21% 20% 21% 23% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
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Energy Storage Overview QUARTERLY PERFORMANCE DRIVERS Q2 2026 sales volumes of 65kt LCE, at $20/kg LCE average realized price Q2 net sales up 78% Y/Y due to higher pricing; adj. EBITDA up 229% due to higher net sales Q3 2026 net sales and adj. EBITDA expected to decrease sequentially due to lower pricing and volumes Margins are expected to decrease sequentially due to timing of spodumene inventory changes FY 2026 OUTLOOK FY 2026 sales volumes are now expected to be in the range of 225 to 235 kT LCE, as a delay to the CGP3 ramp following a fire on June 9, are partially offset by better-than-planned production at Wodgina Outlook ranges include expected impact of supply chain disruptions related to the situation in the Middle East CONTRACT PORTFOLIO ~40% of 2026E salts, or about 1/3 of total, volumes sold on long- term agreements (LTAs) LTAs are index referenced, variable priced contracts; 2-5 years duration at inception, 3-month price lag, all with floors, some with ceilings, specifics vary by contract Adjusted EBITDA Adjusted EBITDA Margin Q2 2026 Performance In Millions Q2 2026 Y/Y Net Sales $1,277 +78% Adj. EBITDA $724 +229% Adj. EBITDA Margin 57% +2,610 bps FY 2026 Outlook Scenarios FY 2026 Li Market Price Scenario ~$10 ~$20 ~$30 Net Sales $2.5B - $2.6B $4.0B - $4.2B $5.9B - $6.1B Adj. EBITDA $0.7B - $0.8B $2.1B - $2.3B $3.9B - $4.1B Adj. EBITDA Margin Low-30% Mid-50% Mid-60% Historical Trend (TTM) $0.7B $0.7B $0.7B $1.1B $1.6B 26% 26% 26% 35% 43% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 9
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% Ongoing Actions to Optimize Cash Conversion 1Defined as Operating Cash Flow divided by Adj. EBITDA, which is a non-GAAP measure. See Non-GAAP Reconciliations for further details *Excluding one-time $350M customer prepayment, 117% as reported Operating Cash Flow Conversion1 Trending Towards Long-Term Target Range Long-term target 60-70% 38% 50% 37% 60% 85%* 69% FY '21 FY '22 FY '23 FY '24 FY '25* H1 '26 FY 2026 operating cash flow considerations: Increased Talison dividends y/y Non-recurring working capital reductions driven by favorable inventory and A/R $87.5M deferred revenue related to FY 2025 customer prepayment ~$100M costs related to idling Kemerton Train 1, ~$32M of which occurred in H1 2026 10 First-half operating cash flow conversion at the high end of our long-term target range
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% ~30% ~30% ~40% Continued Focus on Cost and Productivity Improvements Enables Long-term Competitiveness Achieved ~$100M run-rate year to date, primarily related to manufacturing and supply chain Building a pipeline of improvement projects across manufacturing, supply chain and back office Examples include debottlenecking projects at La Negra, JBC, and our lithium conversion facilities in China Costs and productivity improvements help offset inflation and supply chain disruptions related to the situation in the Middle East Year-to-Date Cost and Productivity Improvements 11 Incremental Volume / Yield Supply Chain & Back Office On track to reach the high end of $100-150M target cost and productivity improvements Manufacturing Costs
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Globally Diverse Key End Markets Remain Resilient 12 Electronics & Semiconductors ~10-15% 2025 Net Sales APAC: Strong demand for DRAM and semi-conductors driven by AI investments Europe: Equipment and materials outperforming on AI capex US: AI continues to drive strong investment China: EV sales recovering (+4% y/y in Q2) due to increased battery sizes and commercial vehicle demand Europe: EV sales continue to perform strongly due to increased incentives China: market continues to experience strong y/y growth driven by policies that improve project returns (e.g., capacity pricing) Europe: demand driven by high costs for conventional energy sources Electric Vehicles ~35-40% 2025 Net Sales Stationary Storage ~15-20% 2025 Net Sales US: EV sales down following the removal of 30D tax incentives (Sep 2025) US: Below-global-average demand driven by tariff increases APAC: Consumer electronics price inflation due to DRAM cost escalation Global: Supply chain disruptions creating demand upside for Albemarle’s globally diversified network Building & Construction ~5-10% 2025 Net Sales Oil & Gas <5% 2025 Net Sales Global: Middle East demand remains stable, geopolitical uncertainty is incentivizing new drilling activities in Americas and North Sea, creating new growth opportunities US: Residential market remains soft on affordability challenges TAILWINDS HEADWINDS Global: Geopolitical tensions and oil price volatility may temper demand growth and moderate drilling activity
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10-15% CAGR 10-20% CAGR Trending towards the higher end of 2026 lithium demand range (+45% Y/Y)2 through May due to YTD ESS demand strength Increasing 2026 and 2030 Stationary Storage Forecast Ranges Due to Continued Strong Demand 1. ICCSino, LIRA and Albemarle Analysis, only includes lithium-ion battery chemistries 2. Albemarle analysis, EV includes Battery, Range Extended, and Plug- in Hybrid Electric Vehicles 13 Market Penetration2 EV 640 2,000 1,500 (+300) 1,100 (+100) 2025 2030E2026E 900 (+100) Stationary Storage Li-Ion Battery Production1 (GWh) by Application2 (MMT LCE) Lithium Demand 1.6 3.6 2.9 (+0.1) 1.8 2.2 Lithium demand diversifying in both application and geography as stationary storage gains market share Exited Q2 with lithium and spodumene inventory days near lowest levels since 2023 Lithium demand exceeding expectations, growing faster than supply 26% 38% 52% 29% 34% 20-30% CAGR 2025 2030E2026E 2025 2030E2026E Increasing 2026 and 2030 forecast ranges Grid EV Consumer Electronics Other (Mobility, Industrial, Inventory) Forecast Range Long-term growth driven by stationary storage and EV; lithium demand expected +15-40% Y/Y in 2026
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0 200 400 600 800 1,000 1,200 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 ESS Demand Continues Strong Growth Trajectory, Raising 2026 Forecast Range 1ICCSino and LIRA ESS battery production data as of August 3, 2026 14 Global Energy Storage Systems (ESS) Production1 (GWh) +98% YTD Y/Y Global ESS demand doubled Y/Y in H1, driven by higher electricity demand, grid reliability and energy security ESS demand driven by project economics and policy support in regions including China, Europe, and Australia US stationary storage supports growing energy demand due to AI and datacenters. Auto OEMs repurposing EV battery lines to produce ESS batteries Increasing 2026 ESS forecast range by 11% to 900-1,100 GWh due to strong YTD growth 49% 19% 7% 25% China Europe North America Rest of World 510GWh YTD Global ESS Production
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0 200 400 600 800 1,000 1,200 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 European EV sales remain strong, (+31% Y/Y YTD), supported by various member state policies and growing market for low cost EVs Growing EV exports (+63% Y/Y YTD) and larger battery sizes (+18%) offset weaker domestic EV sales in China Rest of World was the fastest growing sector in H1 (+90% Y/Y), driven by Brazil, Australia, India, and South Korea, supported by exports and localized manufacturing from Chinese OEMS Positive Inflection in Global EV Sales; Q2 2026 up 16% vs. Q2 2025 1EV Volumes registrations data as of August 3, 2026; Albemarle Analysis 15 Global Electric Vehicle (EV) Sales1 (GWh) +10% YTD Y/Y 48% 28% 10% 14% China Europe North America Rest of World 510GWh YTD Global EV Sales
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Australian JVs: Wodgina Outperformance Expected to Partially Offset CGP3 Delay 16 LATEST UPDATES CGP3 restarted August 1, expected to ramp to full production in Q1 2027 Value optimization studies are progressing well Productivity programs driving lower fuel consumption that help offset current fuel price increases Greenbushes | 49% Albemarle Wodgina | 50% Albemarle LATEST UPDATES Operating well; increased utilization of three full trains Better-than-planned ore availability and recoveries Ore quality expected to continue to improve FY 2026 sales volumes expected to be 225 to 235 kT LCE; Wodgina outperformance offsets CGP3 delay
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17 50+ years of Experience Extracting and Processing Brine 2014 - 2024 Progressive Pilot Validation Atacama Brine Piloting 2025 - 2026 Integrated Pilot Validation Atacama Integrated Pilot Plant March 2026 Submitted Environmental Assessment Permit for Salar de Atacama DLE DLE Journey 2014 - 2017 Scientific Foundation Lab-scale research Magnolia, AR 50+ years Silver Peak, NV 50+ years Salar de Atacama & La Negra, Chile 40+ years JBC, Jordan 25+ years
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Solar Evaporation Ponds La Negra Carbonate Plant Brine Extraction Wells DLE Innovation Builds on Existing Infrastructure to Support Future Growth & Sustainability 18 DLE Product: Li Rich Concentrate Salar de Atacama, Chile Salar de Atacama, Chile Antofagasta, Chile Proposed Phased approach starting with 1 DLE train, seeking permitting for up to 6 trains DLE Process Plant Salar de Atacama Brine ~0.2% Li ~6% Li Final Product: Lithium Carbonate Option to reinject lithium-depleted brine No solvent extraction used in DLE process
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Capitalizing on Our Brine Mining & Process Chemistry Expertise to Deliver Lithium with Less Impact Early DLE Pilot Plant Results Highlight Preliminary Success Capitalizing on our brine extraction & process chemistry expertise to deliver lithium with less impact >90% recovery demonstrated at pilot plant ~85% process water recycled at pilot plant >10 years of research >3,000 hours of pilot plant operations Higher Lithium Recovery with DLE From Lab to Integrated Pilot Scale Minimizing Water Footprint 19
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Strong Start to 2026 Continues 1See appendix for non-GAAP reconciliations Focus on Operational Excellence Enables Solid Earnings & Cash Flow STRONG OPERATIONAL EXECUTION, DEMONSTRATED BY Q2 2026 RESULTS: Net sales of $1.7B; higher volume and price in all segments; adj. EBITDA1 of $858M up 155% Y/Y; cash from ops. of $710M; free cash flow1 of $638M ENHANCED FY 2026 OUTLOOK CONSIDERATIONS: Increasing Specialties outlook on higher pricing and volumes; reducing FY 2026 capital expenditures outlook to ~$500M; on track to reach the high end of $100-150M cost and productivity target CAPITALIZING ON LONG-TERM SECULAR GROWTH OPPORTUNITIES: Supporting the energy transition and energy resilience including strong global grid storage and investments in data centers and AI FOCUSING ON EXECUTION TO GROW RATABLY THROUGH THE CYCLE; Durable competitive strengths, including world-class assets and process chemistry expertise FOCUSING ON EXECUTION AND DISCIPLINED CAPITAL ALLOCATION TO GROW THROUGH THE CYCLE: Durable competitive strengths, leveraging world-class resources and process chemistry expertise 20
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21 Q3 2026 Investor Relations Events Meredith Bandy, CFA VP, Investor Relations & Sustainability meredith.bandy@albemarle.com +1 980.999.5168 Isaac Price Senior Manager, Investor Relations isaac.price@albemarle.com +1 980.308.6194 August 12 Mizuho Industrials and Chemicals Conference September 16-17 Asia NDR September 10 UBS Global Materials Conference September 9 Jefferies Global Industrials Conference
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APPENDIX 23
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Energy Storage Quarterly Sales Metrics 1Represents average of China (ex-VAT) and Asia, Hydroxide and Carbonate, spot market indices 2Includes consolidated lithium salts and spodumene sales 3Any variance with historically disclosed sales volumes is due to rounding and conversion from spodumene to LCE 4Realized price calculated as Energy Storage net sales divided by Energy Storage sales volume 24 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Average Lithium Market Price1 ($/kg LCE) $11.74 $10.24 $9.85 $8.82 $9.42 $11.19 $20.24 $22.80 Energy Storage Net Sales ($M) $767 $617 $525 $718 $709 $759 $891 $1,277 Energy Storage Sales Volume2,3 (kT LCE, consolidates salts & spod) 60 49 44 59 69 63 53 65 Average Realized Price4 ($/kg LCE contained) $12.78 $12.59 $11.93 $12.17 $10.28 $12.05 $16.89 $19.53
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Energy Storage 2026E Outlook Considerations and Market Price Scenarios1 1As of August 5, 2026 2Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. 3Calculated as net sales divided by 2026E Energy Storage sales volumes of 225kt-235kt LCE, includes salts and spodumene sales 4The company does not provide the GAAP measures of net income, gross margin, or diluted earnings per share on a forward-looking basis, or a reconciliation of adjusted EBITDA or adjusted diluted earnings per share to such measure, respectively, because it is unable to estimate significant non-recurring or unusual items without unreasonable effort. See “Non-GAAP Measures” for more information. 5Equity in net income of unconsolidated investments (net of tax), included in adjusted EBITDA on a pre-tax basis. 25 Average realized price below market price due to mix impact of spodumene sales FY 2026E ASSUMPTIONS: Energy Storage sales volumes projected to be in the range of 225-235kt LCE Market price scenarios flowing through current Energy Storage contract book1; ~40% of salts (1/3 of total) volume on LTAs with floors Spodumene market price averages 10% of LCE price Includes idling Kemerton Train 1, accretive to adj. EBITDA beginning in Q2 2026 OBSERVED LITHIUM MARKET PRICE SCENARIOS: (US$/kg LCE)2 NET SALES AVERAGE REALIZED PRICE3 ($/kg LCE contained, salts & spodumene) ADJ. EBITDA4 EQUITY INCOME (net of tax)5 ADJ. EBITDA MARGIN4 FY 2025A FY 2025 avg. $10 $2.7B $11.50 $0.7B $0.2B 25% FY 2025 avg. $10 FY 2026E $2.5B - $2.6B $10.5 - $11 $0.7B - $0.8B $0.2B - $0.3B Low-30% Q1 2026 avg. $20 FY 2026E $4.0B - $4.2B $17 - $18 $2.1B - $2.3B $0.6B - $0.7B Mid-50% 2021-25 avg. $30 FY 2026E $5.9B - $6.1B $25 - $26 $3.9B - $4.1B $1.0B - $1.1B Mid-60%
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Specialties, Ketjen, and Corporate FY 2026E Outlook Considerations 1Adjusted effective tax rate dependent on lithium market prices and geographic income mix, see slide 25 2FY 2025A corporate costs includes $28M benefit related to FX; FY 2026E outlook assumes no FX impact 3Excluding one-time gain or loss on early extinguishment of debt 4Diluted weighted-average common shares outstanding amount assumes the conversion of preferred stock and the net income attributable to common shareholders will not be reduced by mandatory convertible preferred stock dividends. If the reduction of mandatory convertible preferred stock dividends results in a more dilutive earnings per share, the diluted weighted- average common shares outstanding will not assume conversion of the preferred stock. 26 FY 2026E as of August 5, 2026 FY 2025A Segments Specialties Net Sales $1.4B $1.4B – $1.6B Specialties Adj. EBITDA $276M $275M – $325M Other Corporate Capital Expenditures $590M ~$500M Depreciation and Amortization $659M $660M – $680M Adjusted Effective Tax Rate1 (131%) (50%) – 30% Corporate Included in Adj. EBITDA (Incl. FX, Ketjen & PCS)2 $125M ($20M) – $20M Interest and Financing Expenses3 $200M $120M – $140M Weighted-Average Common Shares Outstanding (Diluted) 4 118M 136M
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2026 Outlook Market Price Scenario values represent midpoint of ranges (in millions, except per share amounts) ~$10 (2025 avg.) ~$30 (2021-25 avg.) Adjusted EBITDA1 $950 $4,300 - Pre-Tax Equity Income $360 Assuming 30% AU tax rate $1,500 Assuming 30% AU tax rate - Interest Expenses $130 $130 - Depreciation and Amortization $670 $670 Pre-Tax Income (loss) Before Equity Income ($210) $2,000 - Tax $120 Expect to pay taxes, even with net loss, due to geographic income mix $400 At higher net income, expect ETR closer to statutory rate, ~20% After-Tax Income Before Equity Income ($330) $1,600 + Equity Income $250 $1,050 Net (Loss) Income Attributable to ALB ($80) $2,650 - Preferred Stock Dividends $170 More dilutive to subtract preferred dividends — More dilutive to include converted preferred ÷ Weighted-Avg. Shares (Diluted) 119M Common shares 136M Common + converted preferred at minimum conversion Adj. Diluted EPS ~($2.00) ~$19.50 Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios 1The company does not provide the GAAP measures of net income, gross margin, or diluted earnings per share on a forward-looking basis, or a reconciliation of adjusted EBITDA or adjusted diluted earnings per share to such measure, respectively, because it is unable to estimate significant non-recurring or unusual items without unreasonable effort. See “Non-GAAP Measures” for more information 27
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Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Common Shareholders Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non- operating pension and OPEB. Adjusted Diluted EPS Attributable to Common Shareholders 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. Operating Cash Flow Conversion Operating Cash Flow divided by Adj. EBITDA. 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. Free Cash Flow Operating cash flow minus capital expenditures. 28
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Adjusted Net Income See above for a reconciliation of adjusted net income, the non-GAAP financial measure, to Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with GAAP. (a) Calculation of adjusted diluted income (loss) per share attributable to common shareholders for the three months ended June 30, 2026 excludes the mandatory convertible preferred stock dividends and includes the assumed conversion of preferred stock into the diluted shares outstanding, as this results in the more dilutive per share result. 29 Three Months Ended June 30, 20252026($ in thousands) $ 22,897$ 479,959Net income attributable to Albemarle Corporation Add back: 169626Non-operating pension and OPEB items (net of tax) 31,70830,555Non-recurring and other unusual items (net of tax) 54,774511,140Adjusted net income attributable to Albemarle Corporation (41,687)—Mandatory convertible preferred stock dividends(a) $ 13,087$ 511,140Adjusted net income attributable to Albemarle Corporation common shareholders $ 0.11$ 3.75 Adjusted diluted income per share attributable to Albemarle Corporation common shareholders 117,691136,212Adjusted weighted-average common shares outstanding – diluted(a)
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Year EndedSix Months EndedThree Months Ended December 31,June 30,June 30, 20252025202620252026 % of net sales$ % of net sales$ % of net sales$ % of net sales$ % of net sales$($ in thousands) (9.9)%$ (510,628)2.7 %$ 64,24525.2 %$ 799,0501.7 %$ 22,89727.5 %$ 479,959Net income (loss) attributable to Albemarle Corporation Add back: 4.0 %207,6514.1 %98,9162.0 %64,0453.8 %49,9391.8 %30,924Interest and financing expenses 3.1 %156,8811.3 %30,1163.6 %115,5132.6 %34,0945.4 %94,002Income tax expense 12.8 %658,67813.7 %330,4859.9 %313,60612.7 %168,7318.9 %155,801Depreciation and amortization 10.0 %512,58221.8 %523,76240.7 %1,292,21420.7 %275,66143.6 %760,686EBITDA 1.8 %94,5492.4 %58,4763.5 %112,3002.5 %33,1504.1 %70,766 Proportionate share of Windfield Holdings income tax expense 0.3 %17,710— %6110.1 %2,201— %336— %854Non-operating pension and OPEB items 9.2 %473,1520.9 %20,7703.6 %115,1962.1 %27,3281.5 %25,791Non-recurring and other unusual items 21.4 %$ 1,097,99325.1 %$ 603,61948.0 %$ 1,521,91125.3 %$ 336,47549.2 %$ 858,097Adjusted EBITDA $ 5,142,733$ 2,406,873$ 3,172,044$ 1,329,992$ 1,743,313Net sales $ 1,282,267$ 1,056,241$ 709,997Net cash provided by operating activities 350,000——Less: Customer prepayment $ 932,267$ 1,056,241$ 709,997 Net cash provided by operating activities excluding customer prepayment 84.9 %69.4 %82.7 %Operating cash flow conversion(a) (589,801)(170,407)(71,731)Less: Capital expenditures $ 692,466$ 885,834$ 638,266Free cash flow EBITDA and Adjusted EBITDA (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. 30
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Twelve Months Ended Three Months Ended($ in thousands) Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026Jun 30, 2026 $ 225,630$ 268,744$ 663,814$ 858,097$ 2,016,285Adjusted EBITDA (8,257)(2,469)(3,001)14,271544Equity in net income of non- Windfield Holdings unconsolidated investments (net of tax) 5,1134,691——9,804Dividends received from non-Windfield Holdings unconsolidated investments $ 222,486$ 270,966$ 660,813$ 872,368$ 2,026,633Consolidated Windfield-Adjusted EBITDA $ 1,876,784Total ALB Long Term Debt (as reported) 718,07949% Windfield Holdings debt 95,200Off balance sheet obligations and other $ 2,690,063Consolidated Windfield-Adjusted Funded Debt 1,631,688Less Cash 62,249Less 49% Windfield Holdings cash $ 996,126Consolidated Windfield-Adjusted Funded Net Debt 0.5Consolidated Leverage Ratio Adjusted EBITDA supplemental1 1This supplemental is for net-debt-to-adjusted EBITDA ratio based on the bank covenant definition. 31
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Three Months Ended June 30, 20252026 $ (0.16)$ 3.52Diluted income (loss) per share attributable to Albemarle Corporation common shareholders Add back: ——Non-operating pension and OPEB items (net of tax) Non-recurring and other unusual items (net of tax) 0.020.05Restructuring charges and asset write-offs 0.010.01Acquisition and integration related costs —(0.05)(Gain) loss in fair value of public equity securities 0.130.17Other 0.110.04Tax related items 0.270.22Total non-recurring and other unusual items $ 0.11$ 3.75Adjusted diluted income per share attributable to common shareholders1 117,691136,212Adjusted weighted-average common shares outstanding - diluted Diluted EPS 1Totals may not add due to rounding. 32
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Effective income tax rateIncome tax expense Income (loss) before income taxes and equity in net income of unconsolidated investments($ in thousands) Three months ended June 30, 2026 21.3 %$ 94,002$ 441,649As reported (4,490)26,691Non-recurring, other unusual and non-operating pension and OPEB items 19.1 %$ 89,512$ 468,340As adjusted Three months ended June 30, 2025 (380.1)%$ 34,094$ (8,971)As reported (4,213)27,664Non-recurring, other unusual and non-operating pension and OPEB items 159.9 %$ 29,881$ 18,693As adjusted Effective Tax Rate See above for a reconciliation of the adjusted effective income tax rate, the non-GAAP financial measure, to the effective income tax rate, the most directly comparable financial measure calculated and reporting in accordance with GAAP. 33
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Equity Income and Noncontrolling Interest Note: Corporate equity income relates to foreign exchange gains or losses of our Windfield Holdings joint venture. 34 Three Months Ended June 30, 20252026 Noncontrolling InterestEquity Income Noncontrolling InterestEquity Income($ in thousands) $ —$ 53,851$ —$ 156,250Energy Storage (12,296)—(19,252)—Specialties —24,407—(4,686)Corporate and All Other $ (12,296)$ 78,258$ (19,252)$ 151,564Total Company
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