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November 7, 2025 3Q 2025 Earnings Presentation
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2 © 2025 AdvanSix Inc. All Rights Reserved. Forward Looking Statements This presentation contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, that address activities, events or developments that our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements may be identified by words such as "expect," "anticipate," "estimate," “outlook,” "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" and other variations or similar terminology and expressions. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and difficult to predict, which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: general economic and financial conditions in the U.S. and globally; the potential effects of inflationary pressures, tariffs or the imposition of new tariffs, trade wars, barriers or restrictions, or threats of such actions, changes in interest rates, labor market shortages and supply chain issues; instability or volatility in financial markets or other unfavorable economic or business conditions caused by geopolitical concerns, including as a result of new or proposed legislation or regulatory, trade or other policies in or impacting the U.S., the conflict between Russia and Ukraine, the conflicts in Israel, Gaza and Iran, and related uncertainty in the surrounding region, and the possible expansion of such conflicts; the effect of any of the foregoing on our customers’ demand for our products and our suppliers’ ability to manufacture and deliver our raw materials, including implications of reduced refinery utilization in the U.S.; our ability to sell and provide our goods and services; the ability of our customers to pay for our products; any closures of our and our customers’ offices and facilities; risks associated with increased phishing, compromised business emails and other cybersecurity attacks, data privacy incidents and disruptions to our technology infrastructure; risks associated with operating with a reduced workforce; risks associated with our indebtedness including compliance with financial and restrictive covenants, and our ability to access capital on reasonable terms, at a reasonable cost, or at all, due to economic conditions or otherwise; the impact of scheduled turnarounds and significant unplanned downtime and interruptions of production or logistics operations as a result of mechanical issues or other unanticipated events such as fires, severe weather conditions, natural disasters, pandemics, geopolitical conflicts and related events; price fluctuations, cost increases and supply of raw materials; our operations and growth projects requiring substantial capital; growth rates and cyclicality of the industries we serve including global changes in supply and demand; failure to develop and commercialize new products or technologies; loss of significant customer relationships; adverse trade and tax policies; extensive environmental, health and safety laws that apply to our operations; hazards associated with chemical manufacturing, storage and transportation; litigation associated with chemical manufacturing and our business operations generally; inability to acquire and integrate businesses, assets, products or technologies; protection of our intellectual property and proprietary information; prolonged work stoppages as a result of labor difficulties or otherwise; failure to maintain effective internal controls; our ability to declare and pay quarterly cash dividends and the amounts and timing of any future dividends; our ability to repurchase our common stock and the amount and timing of any future repurchases; disruptions in supply chain, transportation and logistics; potential for uncertainty regarding qualification for tax treatment of our spin-off; fluctuations in our stock price; and changes in laws or regulations applicable to our business. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those contemplated by such forward-looking statements as a result of a number of risks, uncertainties and other factors including those noted above and those identified in our filings with the Securities and Exchange Commission (SEC), including the risk factors in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, as updated in subsequent reports filed with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. We do not undertake to update or revise any of our forward-looking statements. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures intended to supplement, not to act as substitutes for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in this presentation, except with respect to forward-looking non-GAAP measures, where such reconciliation is not available without unreasonable effort as the Company is unable to predict with reasonable certainty the occurrence or amount of all adjustments or other potential adjustments that may arise, which can be dependent on future events. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. Non-GAAP measures in this presentation may be calculated in a way that is not comparable to similarly-titled measures reported by other companies.
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3 © 2025 AdvanSix Inc. All Rights Reserved. Overview Market Backdrop Remains Mixed, Focus on Controllable Levers to Support Through-Cycle Profitability ✓ 3Q25 results impacted by demand softness, lower pricing and moderated operating rates – 3Q25 Net Loss of ($3M), EPS of ($0.10), Cash Flow from Operations of $27M – Continued strength in Plant Nutrients: favorable pricing year-over-year and realized benefits of SUSTAIN growth program – Managing through demand headwinds in key nylon and chemical intermediate end markets ✓ Focused execution on controllables – Optimizing production output and sales volume mix in the areas that are most profitable – Managing inventory levels to navigate protracted nylon downturn, amid impact of unplanned Chesterfield electrical outage – Driving fixed cost reductions and productivity to support profitability and cash flow in 2026 and beyond – Expect reduction in cash tax rate supported by 45Q carbon capture tax credits and 100% bonus depreciation ✓ Q4 Hopewell planned plant turnaround successfully complete; $14M pre-tax income impact in 4Q25 at lower end of range ✓ 2025 Capex now expected to be $120M-$125M, reflecting $30M full year cash conservation through refined risk-based prioritization and execution ✓ Balance sheet remains healthy – executed one-year extension of revolving credit facility 3Q25 Sales $374M 3Q25 Adjusted EBITDA $25M See Appendix in this presentation for a reconciliation of Adjusted EBITDA and Adjusted EPS, which are non-GAAP measures 3Q25 Adjusted EPS $0.08
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4 © 2025 AdvanSix Inc. All Rights Reserved. 3Q 2025 Financial Summary See Appendix in this presentation for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP measures ($M) ➢ Typical ammonium sulfate seasonality (nearly $20M income impact) with start of new fertilizer year ➢ Managing inventory levels amid softer demand for Nylon Solutions and Chemical Intermediates QoQ Drivers ➢ Favorable Plant Nutrients volume/mix (+$9M income impact) as SUSTAIN growth program supports higher granular ammonium sulfate sales, more than offset by lower Chemical Intermediates and Nylon Solutions volume ➢ Acetone price – raws spreads are lower, as anticipated, but holding near cycle averages ➢ Nylon Solutions market pricing holding ~flat amid lower benzene input costs and softer demand environment ➢ Higher utilities costs primarily driven by increased natural gas prices YoY Drivers Sales $374M (6%) YoY Adjusted EBITDA $25M ($28M) YoY Adjusted EBITDA Margin 6.6% (680) bps YoY 3Q25 $398 $410 $374 3Q24 2Q25 3Q25 $53 $56 $25 3Q24 2Q25 3Q25 13.4% 13.6% 6.6% 3Q24 2Q25 3Q25 (6%) ($28M) (680) bps
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5 © 2025 AdvanSix Inc. All Rights Reserved. 114 157 139 3Q24 2Q25 3Q25 Plant Nutrients 3Q 2025 Sales By Product Line Sales Product Price (3%) Volume (3%) Nylon CPL PN CI YoY Sales (6%) QoQ Sales (9%) Price (5%) Volume (4%) ➢ Domestic Nylon market-based pricing holding steady while raw materials pass through pricing saw declines on lower benzene input ➢ Typical sequential ammonium sulfate seasonality; Strong fall fill program supporting higher ammonium sulfate pricing YoY ➢ Lower Chemical Intermediates pricing YoY as anticipated, as acetone pricing moderates from multi-year highs in 2024 ➢ Decline in volume primarily driven by softer demand in Chemical Intermediates and Nylon end markets, partially offset by favorable sales mix in Plant Nutrients supported by SUSTAIN program ($M) +22% YoY Raw Materials Pass Through (5%), Market-Based +2% QoQ Raw Materials Pass Through ~flat; Market-Based (5%) 115 107 84 3Q24 2Q25 3Q25 Chemical Intermediates (27%) 94 80 79 3Q24 2Q25 3Q25 Nylon (16%) 76 66 73 3Q24 2Q25 3Q25 Caprolactam (4%) % Formula / Index ~40% ~85% ~0% ~60%
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6 © 2025 AdvanSix Inc. All Rights Reserved. Diversified End Market Exposure Ag / Fertilizer Packaging Building & Construction Plastics Solvents End Market ASIX Exposure End Market Performance / Outlook - AIA forecasting ~2% commercial construction growth in 2026 - New builds / home sales yet to significantly recover in current interest rate environment - Continued drawdown in auto inventories impacting demand for engineering plastics - Softer demand for consumer durables and other industrial applications - Moderated growth in construction, pharmaceutical and electronics industries - Inflationary pressure and tariffs impacting demand for U.S. red meats +Sulfur nutrition demand growing 3-4% per year – growers seeking to maximize crop yields +Stock-to-use ratios globally supporting fertilizer demand; Caution around North American crop prices and farmer profitability + Positive Mixed Weak
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7 © 2025 AdvanSix Inc. All Rights Reserved. Cash Flow Generation and Use H e a l t h y B a l a n c e S h e e t a n d Prudent Leverage Ratios 64 11 21 27 34 34 28 27 4Q24 1Q25 2Q25 3Q25 Operating Cash Capex ($M) Targeting Positive Free Cash Flow for 2025; Expect Year-End Debt Leverage Near Low End of Target 1-2.5x Range Cash Flow Generation • Expect strong free cash flow in 4Q25 supported by working capital tailwinds, including ammonium sulfate pre-buy cash advances • Achieved ~$30M full year capital reduction versus plan through risk-based prioritization: 2025 Capex now expected to be $120M-$125M • 4Q25 Dividend declared at $0.16/share • Expect Capex of $125M-$135M in 2026 • Inventory management and cost reduction initiatives expected to bolster cash generation in 2026 • Expect cash tax rate to be below 10% over next few years supported by 45Q carbon capture tax credits and 100% bonus depreciation Leverage Ratio: 1.1x 1.0x 1.3x 1.5x Leverage ratio calculated in accordance with the terms of the Company’s revolving credit facility Operating Cash Linearity influenced by July – June Fertilizer Year
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8 © 2025 AdvanSix Inc. All Rights Reserved. Compelling Investment Thesis Value Drivers Supporting Through-Cycle Profitability and Sustainable Performance Durable Competitive Advantage Portfolio Resiliency Long-Term Positioning ✓ Leading global cost advantage in vertically integrated caprolactam production – unique combination of assets and business model core to our advantage ✓ Largely insulated from reciprocal tariff impacts with ~90% of sales in the U.S.; Anti-dumping duties in place for ammonium sulfate and acetone in the U.S. ✓ Industry actions now apparent with recent announced European capacity rationalization in phenol/ acetone and caprolactam/ ammonium sulfate ✓ Ammonia and Sulfuric Acid platform integration coupled with leading technology position underpins SUSTAIN Ammonium Sulfate granular growth ✓ Product mix and asset utilization agility enable navigation through multitude of cycles ✓ 45Q carbon capture tax credits and recent tax legislation meaningfully impact cash flow ✓ Healthy balance sheet provides optionality for further value creation
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APPENDIX
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10 © 2025 AdvanSix Inc. All Rights Reserved. 400 600 800 1000 1200 1400 800 1200 1600 2000 2400 2800 Corn Belt AS price - Left Axis Corn Belt Urea price - Right Axis Plant Nutrients Industry Pricing and KPI Update Typical Seasonal Decline; AS Price and Raw Materials Higher Year-over-Year 3Q25 YoY 3Q25 vs. 2Q25 8% (20%) 34% (10%) ($/ston N content basis) Industry Pricing Commentary • Strong fall fill program supported higher ammonium sulfate pricing year-over-year • Higher raw material prices (natural gas and sulfur) impacting fertilizer margins; Sulfur costs expected to remain elevated into 1H 2026 • SUSTAIN program to support achievement of ~72% granular conversion for AdvanSix by end of 2025 and ~74% by end of 2026 – driving improved volume and mix • Expect continued strong Plant Nutrients performance despite caution around North American crop prices and farmer profitability ➢ Growers seeking to maximize crop yields continue to recognize the sulfur value proposition ➢ Continued evidence that growers understand the trade off in investing for better yield while trying to manage cost structure • Anti-dumping duties in place in U.S. against imports of Chinese ammonium sulfate Source: Green Markets, A Bloomberg Company (1) Pricing as of 10/31 (2) Forecast as of 11/5 KPIs / Industry Metrics 3Q24 4Q24 3Q25 4Q25E AS Corn Belt Price ($/ST) ~$345 ~$390 ~$370 ~$370(1) NYMEX Natural Gas ($/MMBtu) $2.17 $2.79 $3.07 $3.48(2) Tampa Sulfur ($/LT) $76 $116 $252 $310
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11 © 2025 AdvanSix Inc. All Rights Reserved. 400 600 800 1000 1200 Global Composite CPL-BNZ Spread Asia CPL-BNZ Spread Asia Resin-BNZ Spread Nylon Solutions Industry Spreads and KPI Update Sources: Tecnon Orbichem, Wood Mackenzie ($/MT) Global Oversupply Conditions Persist 3Q25 YoY 3Q25 vs. 2Q25 (13%) (7%) (17%) (8%) (8%) (4%) Industry Spreads Commentary • Navigating an extended downturn in the cycle – global oversupply conditions holding industry pricing steady • AdvanSix price over raws spreads expanding year-over-year amid lower benzene costs but remain well below cycle averages • North American nylon demand mixed overall – Moderated fiber and filament demand into building and construction applications – Continued drawdown in auto inventories impacting demand for engineering plastics – Monitoring potential inflationary and tariff impacts on packaging demand • Recent announced rationalization of capacity in Europe • China operating rates stable as oversupply persists; Low-priced import offerings in other regions continue to create competitive intensity KPIs / Industry Metrics 3Q24 4Q24 3Q25 4Q25E NA Resin – BNZ ($/MT) ~$1,350 ~$1,350 ~$1,300 ~$1,300 Asia CPL – BNZ ($/MT) ~$670 ~$630 ~$560 ~$570 U.S. Benzene ($/MT) ~$1,050 ~$900 ~$800 ~$750
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12 © 2025 AdvanSix Inc. All Rights Reserved. 0 20 40 60 80 Acetone, Sm/Med Buyer Price Acetone, Large Buyer Price Refinery Grade Propylene Costs Chemical Intermediates Industry Pricing and KPI Update Source: Chemical Market Analytics (1) Weighted average margin assumes Large Buyer 2/3 share of market adjusted for discounts, Small / Medium 1/3 share of market (2) 3Q25 YTD Lower Global Operating Rates Persist; Spreads Near Cycle Averages (cents per pound) 3Q25 YoY 3Q25 vs. 2Q25 (26%) (7%) (19%) (6%) (1%) (7%) Industry Pricing Commentary • Phenol demand remains weak overall – lower global operating rates supporting more balanced acetone supply and demand dynamics • Anticipated moderation of acetone pricing, net of input costs, off 2024 multi-year highs • Acetone margins lower year-over-year but remain near cycle averages; Refinery grade propylene costs moderating from 1H25 highs • Anti-dumping duties in place in U.S. against imports of acetone from Belgium, Singapore, South Africa, South Korea, and Spain • Other Chemical Intermediates end market demand softened throughout the quarter; Cyclohexanone demand into semiconductor space down YoY in 3Q25 but anticipated to improve sequentially in 4Q25 • AdvanSix patent on the use of 2-PO as an anti-skinning additive for alkyd paints and coatings has been upheld by the Opposition Division at the European Patent Office KPIs / Industry Metrics 3Q24 4Q24 3Q25 4Q25E Acetone – Refinery Grade Propylene (c/lb) (1) ~$0.35 ~$0.33 ~$0.23 ~$0.24 KPIs / Industry Metrics 2020 2021 2022 2023 2024 2025(2) Acetone – Refinery Grade Propylene (c/lb) (1) ~$0.22 ~$0.32 ~$0.21 ~$0.26 ~$0.36 ~$0.24
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13 © 2025 AdvanSix Inc. All Rights Reserved. Capital Expenditures • $500M revolver provides ample liquidity to execute our capital investment pipeline to support our integrated value chain and position the company for growth • Continuing to return cash to shareholders via opportunistic repurchases and increasing dividends • Leverage expected to remain comfortably within our target range of 1.0-2.5x H e a l t h y B a l a n c e S h e e t a n d Prudent Leverage Ratios Deployment by Year**Capex Framework Maintenance + HSE* Capex • Supporting safe, stable and sustainable operations • Sustaining maintenance on average $75-$90M per year • Prioritization based on compliance requirements, risk assessments, reliability control plans and efficiency improvements High-Return Growth and Cost Savings Capex • Projects focused on improving rate, yield, quality and cost • SUSTAIN growth program largest near-term organic investment supporting IRR of over 30% • Continuing to assess and replenish high-return pipeline Enterprise Programs • Larger multi-year projects to support long-term operational excellence and risk mitigation • Expect Capex to moderate in 2026 as Frankford dock and boiler projects near completion • 2027 spend expected to decline further as Hopewell water program investment is moderated over remaining years *Health, Safety and Environmental **Excludes any netting of USDA Grant Funding ($M) Disciplined and Value Accretive Investments to Support Long-Term Potential 2023 2024 2025E 2026E 2027E Maintenance + HSE Enterprise $98 $123 2023 2024 2025E 2026E 2027E Growth and Cost Savings $9 $11 ~$15 $105-$110 ~$20 ~$10 $105-$115 $95-$105 BASE CAPEX
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14 © 2025 AdvanSix Inc. All Rights Reserved. 45Q Carbon Capture Tax Credits Significant Value Creation – Total Opportunity in the Range of $100M-$120M • Newly enacted legislation continues to support 45Q carbon capture tax credits including utilization • 45Q allows federal tax credits over a 12-year period based on the amount of CO2 captured and utilized that would otherwise be emitted into the atmosphere beginning in February 2018 for AdvanSix • Requires submission and approval of a life cycle assessment (LCA) of greenhouse gas emissions to the IRS and DOE Background AdvanSix Position Financial Impact • AdvanSix operates ~600k MT ammonia plant at Hopewell from which CO2 is generated • The captured CO₂ is either used as feedstock for many of our downstream products through chemical conversion or sold to our customers for beneficial re-use in essential applications including food and beverage, cold chain storage, medical and more • AdvanSix is one of the largest producers of ammonia along the east coast; One of the first industrial companies to be recognized for our use of carbon capture in our manufacturing process • Credits reduce effective tax rate; EPS benefit and anticipated receipt of cash from ~$20M in 45Q carbon capture tax credits claimed to date for the 2018-2020 tax periods • Continue to pursue credits for subsequent periods; Credit rate applied is on an increasing scale and adjusted for inflation • Total potential tax credit opportunity in the range of $100M-$120M through 2029 Tax Credits Claimed 2018 ~$4M 2019 ~$8M 2020 ~$8M Estimated Future Periods $80M-$100M Total Tax Credit Opportunity $100-$120M
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15 © 2025 AdvanSix Inc. All Rights Reserved. Planned Plant Turnarounds 1Q 2Q 3Q 4Q FY Primary Unit Operation 2017 -- ~$10M ~$4M ~$20M ~$34M Sulfuric Acid 2018 ~$2M ~$10M ~$30M -- ~$42M Ammonia 2019 -- ~$5M ~$5M ~$25M ~$35M Sulfuric Acid 2020 ~$2M ~$7M ~$20M ~$2M ~$31M Ammonia 2021 ~$3M ~$8M -- ~$18M ~$29M Sulfuric Acid 2022 ~$1M ~$5M ~$44M(2) -- ~$50M Ammonia 2023 ~$2M ~$1M ~$27M -- ~$30M Sulfuric Acid 2024 ~$5M ~$3M ~$3M ~$47M(3) ~$58M Ammonia 2025E ~$5M ~$6M -- ~$14M ~$25M Sulfuric Acid • Timing driven by compliance, inspection and sustaining asset base • Critical to supporting high utilization rates • Dedicated teams to improve effectiveness • Staggered across unit operations to maintain output • Proactive maintenance capex prioritized to mitigate risk and support safe, stable and sustainable operations (1) Primarily reflects the impact of fixed cost absorption, maintenance expense, and the purchase of feedstocks which are normally manufactured by the Company. (2) During the multi-site planned plant turnaround, additional required maintenance at our Frankford phenol plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates at our Hopewell and Chesterfield sites, resulting in an incremental $15M unfavorable impact to pre-tax income, which is reflected in this amount and is inclusive of fixed cost absorption, higher maintenance expense and lost sales. (3) During the multi-site planned plant turnaround, additional required maintenance at our Hopewell plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates, resulting in an incremental ~$17M unfavorable impact to pre-tax income, which is reflected in this amount and is inclusive of fixed cost absorption, higher maintenance expense, and lost sales. Pre-Tax Income Impact by Quarter (1)
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Reconciliation of Non-GAAP Measures to GAAP Measures
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17 © 2025 AdvanSix Inc. All Rights Reserved. Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow (in $ thousands) The Company believes that this metric is useful to investors and management as a measure to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. The Company believes the non-GAAP financial measures included in this presentation provide meaningful supplemental information as they are used by the Company’s management to evaluate the Company’s operating performance, enhance a reader’s understanding of the financial performance of the Company, and facilitate a better comparison among fiscal periods and performance relative to its competitors, as these non-GAAP measures exclude items that are not considered core to the Company’s operations. (1) Free cash flow is a non-GAAP measure defined as Net cash provided by operating activities less Expenditures for property, plant and equipment.
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18 © 2025 AdvanSix Inc. All Rights Reserved. Reconciliation of Net Income to Adjusted EBITDA (in $ thousands) The Company believes the non-GAAP financial measures included in this presentation provide meaningful supplemental information as they are used by the Company’s management to evaluate the Company’s operating performance, enhance a reader’s understanding of the financial performance of the Company, and facilitate a better comparison among fiscal periods and performance relative to its competitors, as these non-GAAP measures exclude items that are not considered core to the Company’s operations. (2) 2024 includes a pre-tax loss of approximately $1.2 million from the reduction of the Company's anticipated receivable related to the gain on the termination fee recorded upon the exit from the Oben Holding Group S.A. alliance during the third quarter of 2023 (3) Legal and professional fees associated with strategic regulatory matters and potential inorganic growth options (4) Adjusted EBITDA margin is defined as Adjusted EBITDA divided by Sales
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19 © 2025 AdvanSix Inc. All Rights Reserved. Reconciliation of Earnings Per Share to Adjusted Earnings Per Share The Company believes the non-GAAP financial measures included in this presentation provide meaningful supplemental information as they are used by the Company’s management to evaluate the Company’s operating performance, enhance a reader’s understanding of the financial performance of the Company, and facilitate a better comparison among fiscal periods and performance relative to its competitors, as these non-GAAP measures exclude items that are not considered core to the Company’s operations. (in $ thousands except share and per share amounts)