Annual report
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 1-37774 AdvanSix Inc. (Exact name of registrant as specified in its charter) Delaware 81-2525089 (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) 300 Kimball Drive, Suite 101 Parsippany, New Jersey 07054 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (973) 526-1800 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.01 per share ASIX New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes o No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer o Non-accelerated filer o Smaller reporting company ☐ Emerging growth company ☐
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. o Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒ The aggregate market value of common stock held by non-affiliates of the registrant was approximately $622 million as of June 30, 2025. The market value held by non-affiliates excludes the value of those shares held by executive officers and directors of the registrant. There were 26,872,912 shares of common stock outstanding at January 30, 2026. Documents Incorporated by Reference Part III: Proxy Statement for Annual Meeting of Stockholders to be held June 22, 2026.
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TABLE OF CONTENTS PART I. 1 Item 1. Business 1 Item 1A. Risk Factors 13 Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 24 Item 2. Properties 25 Item 3. Legal Proceedings 25 Item 4. Mine Safety Disclosures 26 PART II. 27 Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities 27 Item 6. [Reserved] 28 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 40 Item 8. Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 73 Item 9A. Controls and Procedures 73 Item 9B. Other Information 74 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 PART III. 75 Item 10. Directors, Executive Officers and Corporate Governance 75 Item 11. Executive Compensation 75 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75 Item 13. Certain Relationships and Related Transactions and Director Independence 75 Item 14. Principal Accounting Fees and Services 75 PART IV. 76 Item 15. Exhibits and Financial Statement Schedules 76 Item 16. Form 10-K Summary 76 Signatures 81
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PART I. Item 1. Business In this Annual Report on Form 10-K, unless the context otherwise dictates, “AdvanSix,” the “Company,” “we,” “us” or “our” means AdvanSix Inc. and its consolidated subsidiaries. Corporate History On October 1, 2016, Honeywell International Inc. (“Honeywell”) completed the separation of AdvanSix. The separation was completed by Honeywell distributing (the "Distribution") all of the then outstanding shares of common stock of AdvanSix on October 1, 2016 (the “Distribution Date”) through a dividend in kind of AdvanSix common stock, par value $0.01 per share, to holders of Honeywell common stock as of the close of business on the record date of September 16, 2016 who held their shares through the Distribution Date. Description of Business AdvanSix Inc. is an integrated chemistry company that produces essential materials for diverse end markets. Our value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets. Guided by our core values of Safety, Integrity, Accountability and Respect, AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, plant nutrients and chemical intermediates. Our key product lines are as follows: • Nylon Solutions◦ Nylon – We sell our Nylon 6 resin globally, primarily under the Aegis® brand name. Nylon 6 is a polymer resin which is a synthetic material used by our customers to produce fibers, filaments, engineered plastics and films that, in turn, are used in such end-products as carpets, automotive and electric components, sports apparel, food packaging and other industrial applications. ◦ Caprolactam – Caprolactam is the key monomer used in the production of Nylon 6 resin. We internally polymerize caprolactam into Aegis® Nylon 6 Resin, and we also market and sell the caprolactam that is not consumed internally to customers who use it to manufacture polymer resins to produce fibers, compounds and other nylon products. Our Hopewell manufacturing facility is one of the world’s largest single-site producers of caprolactam as of December 31, 2025. • Plant Nutrients – Our ammonium sulfate is used by customers as a fertilizer containing nitrogen and sulfur, two key plant nutrients. Ammonium sulfate fertilizer is derived from the integrated operations at the Hopewell manufacturing facility. Because of our Hopewell facility’s size, scale and technology design, we are the world’s largest single-site producer of ammonium sulfate fertilizer as of December 31, 2025. We market and sell ammonium sulfate primarily to North American and South American distributors, farm cooperatives and retailers to fertilize crops. We also manufacture sulfuric acid, ammonia and carbon dioxide as part of our integrated operations at Hopewell and occasionally sell any excess material not consumed internally to customers externally. • Chemical Intermediates – We manufacture, market and sell a number of chemical intermediate products that are derived from the manufacturing processes within our integrated supply chain. Most significant is acetone which is used by our customers in the production of solvents, paints, coatings, adhesives, resins and herbicides. Other intermediate chemicals that we manufacture, market and sell include phenol, alpha-methylstyrene ("AMS"), cyclohexanone, oximes, cyclohexanol, and alkyl-amines and specialty amines. Additional end-products for intermediates include automotive components, and water treatment and pharmaceuticalintermediates. Each of these product lines represented the following approximate percentage of total sales: Years Ended December 31, 2025 2024 2023 Nylon 20% 23% 23% Caprolactam 18% 18% 20% Plant Nutrients* 37% 30% 31% Chemical Intermediates* 25% 29% 26% 100% 100% 100% 1
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* In 2024, the Company transferred certain products between its Chemical Intermediates product line and its Plant Nutrients product line to align more closely with its current sales structure. Historical information was reclassified to reflect these changes for all periods presented in the Consolidated Financial Statements. Total revenue amounts were not impacted for either period. The following charts illustrate the distribution of our sales by product line and by region, measured by the destination of each sale, for the year ended December 31, 2025: For information concerning revenues and assets by geographic region, see “Note 3. Revenue” to our Consolidated Financial Statements included in Item 8 of this Form 10-K, which is incorporated herein by reference. Our manufacturing process is vertically integrated. We use cumene, a chemical compound produced from benzene and propylene, to manufacture phenol, acetone and AMS at our Frankford, Pennsylvania plant. The majority of the phenol we manufacture is further processed at our Hopewell facility through an integrated series of unit operations, which also consume natural gas and sulfur, to primarily produce caprolactam and ammonium sulfate. In 2025, approximately 53% of the caprolactam we produced at our facility in Hopewell, Virginia was shipped to our facility in Chesterfield, Virginia where it was polymerized into Aegis® Nylon 6 resin. Manufacturing for our U.S. Amines portfolio occurs at our two facilities located in Bucks, Alabama and Portsmouth, Virginia. The below chart shows the Company's integrated value chain: Our integrated manufacturing process, our scale and the quantity and range of our products make us one of the most reliable and efficient manufacturers in our industry. We consistently focus on and invest in improving production yields from our various manufacturing processes to build on our leading global cost advantage. Our logistics infrastructure enables a reliable intra-plant supply chain and consistent and timely delivery to our customers. In addition, we strive to understand the product applications and end markets into which our products are sold, which helps us upgrade the quality, chemical properties and packaging of our products to enable us to attract price premiums and greater demand. 2
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AdvanSix serves approximately 375 customers annually, primarily in the United States, with global capabilities, spanning a wide variety of industries. For the years ended December 31, 2025, 2024 and 2023, we had sales of $1,522 million, $1,518 million and $1,534 million with net income of $49 million, $44 million and $55 million, respectively. For the years ended December 31, 2025, 2024 and 2023, our international sales were $212 million, $213 million and $284 million, respectively. AdvanSix is a single operating segment and a single reportable segment, operating through five U.S.-based manufacturing sites located in Frankford, Pennsylvania, Hopewell, Chesterfield and Portsmouth, Virginia and Bucks, Alabama. The Company's headquarters is located in Parsippany, New Jersey. Competitive Strengths Low-Cost Position Driven by Integrated Manufacturing Footprint, Large Scale, Favorable Geographical Location, and High Utilization Rates. Our vertically integrated manufacturing facilities, scale, access to lower cost raw materials, and high plant utilization rates help us maintain our position as the world's lowest cost producer of caprolactam. First, we are vertically integrated into several key feedstock materials necessary to produce caprolactam, particularly phenol, ammonia and oleum/sulfuric acid, which we believe is a unique advantage in our industry. Our integration allows us to remain flexible, while optimizing sales from our diverse portfolio of products. Second, we operate one of the world’s largest single-site caprolactam and ammonium sulfate production facilities, which is a competitive advantage in our globally fragmented industry. Our scale provides operating and purchasing leverage and the opportunity to achieve stronger business performance than our competitors in several ways. Most fundamentally, it enables us to spread fixed and overhead costs across more pounds of production, thereby enabling us to produce caprolactam at a lower per pound cost than our competitors. Third, the location of our manufacturing operations in the United States affords us access to low-cost natural gas, which is a key raw material needed to manufacture the ammonia used in the production of caprolactam and ammonium sulfate as well as the source of energy for our manufacturing operations. By contrast, a significant number of our competitors are in geographic locations where energy prices are substantially higher. Our footprint also provides access to a number of higher value end markets across our product lines. Finally, our long- term customer relationships and contracts enable us to maintain high plant utilization rates through the cycle, which, along with our size and scale, serves to retain and attract customers who prioritize security of supply. Diverse Revenue Sources from the Sale of Ammonium Sulfate Fertilizer, Acetone and Other Chemical Intermediates. Due to our specific chemical manufacturing processes, vertical integration and scale, we produce ammonium sulfate fertilizer, acetone and a wide range of other chemical intermediates that enable us to diversify our revenue sources. Most significantly, for every pound of caprolactam produced, we produce approximately four pounds of ammonium sulfate, a fertilizer used by farmers around the world. For many decades, we have employed agronomists to educate growers and retailers in the Americas on the yield value of using ammonium sulfate fertilizer on key crops including corn, wheat, coffee, sugar, cotton and rice. We have been executing a program to educate growers and retailers on the yield benefit of ammonium sulfate fertilizer on soybeans and have generated on-farm research results that support this cropmanagement practice. Traditionally grown as a less resource intensive alternative to corn, we see soybeans as a potential growth area for nitrogen and sulfur fertilizers as researchers continue to better understand the yield increases that growers can realize by fertilizing soybean crops with these two nutrients. We have also diversified and optimized our ammonium sulfate-based offerings to include a spray- grade adjuvant to support crop protection, as well as other specialty fertilizers and products for industrial use. Sales of plant nutrients' products in 2025 were $564 million and represented 37% of our total sales. We are among the most significant suppliers of acetone to a variety of end markets in North America. Sales of acetone in 2025 were approximately $222 million and represented 15% of our total sales. For AdvanSix, acetone is a key product line with a perform and optimize strategy to meet customer needs while driving favorable sales and profitability mix. In addition to ammonium sulfate and acetone, other products from our manufacturing process include high- purity phenol, AMS, cyclohexanone, oximes, cyclohexanol, sulfuric acid, ammonia and carbon dioxide. The diversity of our sales portfolio helps to mitigate, to some extent, the cyclicality in our end markets. We believe we are aligned to several favorable macro trends that are supporting growth across the portfolio including urbanization and aging infrastructure, digital transformation, global food production and resource scarcity, and a shift to green and performance chemicals. In addition, our U.S. Amines portfolio enables further diversification into agrochemical intermediates, water treatment and pharmaceuticals. U.S. Value Chain Providing Consistency and Reliability for Domestic Customer Base. With all of our manufacturing located in the U.S., 86% of our sales in the U.S., and primarily procuring our key raw materials domestically, our integrated value chain provides consistency and reliability for our predominantly domestic customer base. Our cost position, business model, and sales and marketing capabilities, however, enable us to compete globally where nylon resin, caprolactam, ammonium sulfate and chemical intermediates are consumed. Our freight and logistics capabilities and terminal locations position us well to serve global markets, including the dock and loading facility at our Hopewell facility which serves ocean-going dry-bulk freight vessels. Our global reach enables us to arbitrage geographic price variations to ensure we are receiving the highest value for our products. Technical Know-How, Customer Intimacy and Application Development Capabilities. Intimate knowledge of our customers and end market applications, combined with our technical know-how, enables us to develop differentiated, higher quality products that are 3
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often valued higher by customers compared to commodity products. Our technology talent consists of scientists and engineers with degrees in polymer and chemical synthesis, catalysis and chemical engineering, who work on driving unique offerings and developing new products across our diverse portfolio. Our agronomist provides the latest scientific information on the importance of sulfur nutrition for crops and how to optimize the benefits of ammonium sulfate fertilizer to our global customers through a variety of channels including webinars, technical training sessions for retailers and direct grower meetings. We also have a strategic focus around placing our various chemistry platforms into high-value applications. This diversification of end market exposure supports our sales and margin performance in spaces such as electronics, alkyd-based paints and pharmaceutical and other industrial applications. Business Strategies Operational Excellence and Improving Through-Cycle Profitability. Through our vertical integration, size, access to low-cost raw materials, and high utilization rates, we seek to build on our low-cost leadership position and expand operating margins by reducing our Nylon 6 resin, caprolactam, ammonium sulfate and other chemical intermediate production costs. While our global low-cost position supports our ability to operate at disproportionately higher utilization rates relative to our industries and to meet demand where it exists through a cycle, our goal of generating higher lows and higher highs requires us to drive productivity, optimize our regional and product sales mix, and continue to promote the value proposition of our differentiated offerings. Operational excellence is a key enabler to our overall performance, and we take all the learnings for sustained continuous improvement with rigor and discipline. There is a meaningful annual opportunity of sustainably running at our targeted production rates. Our focus on operational excellence and ongoing productivity improvements concentrate on the following: • Increasing production volume through asset reliability, flexibility and capacity; • Investing in digital transformation and process automation to optimize and improve operational efficiency; • Executing planned plant turnarounds and prioritizing replacement maintenance capital investments to mitigate risk and support safe, stable and sustainable operations; • Investing in intermediate chemical buffer storage capacity to mitigate the unfavorable impact of routine maintenance and unplanned interruptions; • Energy and direct material initiatives aimed at increasing plant productivity and lowering costs; and • Procurement processes, competitive bidding and supplier diversification to reduce raw material and indirect costs. Enhancing Portfolio Resiliency. Our diverse portfolio serves us well particularly during times of uncertainty. Supplementing our exposure to diverse end-use applications, we have enhanced our sales mix through our differentiated product portfolio. Over the past several years, we have invested in capabilities to strengthen our innovation, increase the value of our product portfolio and meet customer specifications in certain high value industries including high-purity applications, high-value intermediates and differentiated nylon. We have had successes across the portfolio including our oximes-based EZ-Blox® anti-skinning agent used in paints and coatings, and our Nadone® cyclohexanone product line, which is a solvent used in various high-value applications. Growing off a small base, we have also seen commercial success with our Nylon-based wire and cable offerings as well as copolymer Nylon 6/66 resin, which are used in engineered plastics for the automotive industry, films for food packaging, as well as other higher value applications. In addition, as a result of recent efforts and enhancements in crystallizer technology and operations, we are now producing a high-quality granular grade ammonium sulfate at greater conversion levels to meet the growing demand of our customers. These efforts are being supplemented by our multi-year SUSTAIN (Sustainable U.S. Sulfate To Accelerate Increased Nutrition) program's planned expansion in granular ammonium sulfateproduction. We are focused on working with customers to solve their needs with respect to sustainability and have commercialized our 100% Post-Industrial and Post-Consumer Recycled nylon. Our technology team works with existing and potential customers to understand end-use applications, build application development capabilities and protect the value proposition of our new products. Strong Capital Stewardship. We have developed and are executing against a disciplined framework for capital deployment that balances long-term investment to improve the through-cycle profitability of the business with return of cash to shareholders. We are focused on improving our return on invested capital and remain committed to delivering strong and sustainable total shareholder return over the long- term. Our approach to deploying cash is disciplined with a two-pronged framework of critical funding and discretionary choices to create value. From a critical funding perspective, we have our ongoing base maintenance and health, safety and environmental capital expenditures including our enterprise programs to support long-term operational excellence and risk mitigation. We have and will continue to flex this level of spend, as needed or required, to address critical enterprise risk mitigation, regulatory compliance and sustainability programs. We believe that our dividend, which has grown since its initiation in 2021, serves as a dependable return of cash to our shareholders and fits very well within this framework supported by annual operating cash flow. The timing, declaration, amount and payment of dividends to stockholders, if any, will be within the sole discretion of our Board of Directors ("Board"). All further capitalallocation is discretionary where we fund growth and cost saving programs at robust returns, inorganic opportunities and share repurchases. Our high-return growth and cost savings capital project pipeline target improvement in production rate, cost, quality and yield. As an example, we are accelerating profitable growth through our multi-year SUSTAIN program's planned expansion in granular ammonium sulfate production. We continue to pursue a highly-selective acquisition and alliance strategy to supplement our organic sales by broadening our customer base, developing our technology and product portfolios, and enhancing our cash flow profile and margin stability. On an ongoing basis we evaluate options to return cash to shareholders and maintain sufficient capacity under our current share repurchase authorization. 4
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Industry Overview Nylon Solutions. Nylon is sold globally as a polymer resin that is drawn into fiber for textiles and carpet and into filament for industrial applications; compounded for engineering plastics, including for automotive end-use; and extruded into film for food and industrial packaging applications. While global Nylon 6 production and utilization data reflect aggregate conditions across all regions, market dynamics and value chains have been operating more regionally in recent years. During 2025, approximately 7.7 million metric tons of Nylon 6 resin were produced and consumed globally. Utilization of Nylon 6 production capacity was approximately 56% in 2025, influenced by supply and demand fundamentals and operating rates in China and the rest of Asia, which represents nearly 80% of total Nylon 6 capacity. In contrast, utilization rates in 2025 for caprolactam, the key building block for Nylon 6, were approximately 74% globally and over 80% in the United States reflecting more balanced regional supply and demand conditions. Caprolactam utilization was also above 80% in China, which was comparatively higher than operating rates observed in Europe and the rest of Asia (55%-65% range). Market growth typically tracks global GDP growth over the long-term but varies by end-use. Generally, prices for Nylon 6 resin and caprolactam reflect supply and demand trends in the marketplace as well as the value of the basic raw materials used in the production of caprolactam, consisting primarily of benzene and, depending on the manufacturing process utilized, natural gas and sulfur. The global prices for nylon resin typically track a spread over the price of caprolactam, which in turn tracks as a spread over benzene because the key feedstock materials for caprolactam, phenol or cyclohexane, are derived from benzene. This price spread has historically experienced variation as a result of global changes in supply and demand. Nylon 6 resin prices generally track caprolactam prices, although prices set above the average commodity spread are achievable when nylon resin manufacturers, like AdvanSix, formulate and produce differentiated nylon resin products for current and new customer applications. Our differentiated Nylon 6 products, such as our wire and cable, and co- polymer offerings, are typically valued at a higher level than commodity resin products. We believe that Nylon 6 end market growth will continue to generally track global GDP over the long-term. Carpet is the largest end-use for Nylon 6 in North America and has seen stable to declining demand growth for a number of years reflecting shifts in consumer preferences to hard flooring versus soft and the previous substitution to lower-cost polyester. The housing sector had seen an improving trend in recent years, however, residential construction markets have slowed through 2025 reflecting higher interest rates. While Nylon 6 has a stronger presence in commercial carpet applications, including hospitality, institutional and offices, where the material is preferred for its durability and performance characteristics, growth in both residential and commercial markets has been subdued. A lower interest rate environment, in time, is expected to favorably impact building and construction, however, we expect continued weak demand through 2026. Applications such as engineered plastics and packaging have potential to grow at faster rates given certain macrotrends. Varying regional dynamics, including competitive intensity and trade flows continue to impact regional pricing. Despite long supply and demand fundamentals, estimated operating rates out of China remain at multi-year highs resulting in continued nylon exports to other regions, namely southeast Asia. In North America, where we primarily participate, demand has been weak, with continued softness in building and construction, food packaging and engineering plastics applications used largely in the automotive industry. Plant Nutrients. Ammonium sulfate is used as a fertilizer providing the key nutrients of sulfur and nitrogen for major agricultural crops globally such as corn, wheat, coffee, sugar, cotton and rice. Ammonium sulfate fertilizer products are primarily sold in North and South America. As of December 31, 2025, ammonium sulfate fertilizer accounts for approximately 6% of the global market for nitrogen fertilizer and over 40% of the global market for sulfur fertilizer. Global prices for ammonium sulfate are influenced by several factors including the price of urea, which is the most widely used source of nitrogen-based fertilizer in the world. Other global factors driving ammonium sulfate fertilizer demand are general agriculture trends, including the price of crops. Evidence continues to demonstrate that farmers understand the investment trade off in driving better yield while managing their cost structure and profitability. Strong underlyingagriculture fundamentals coupled with elevated global energy input costs and tighter nitrogen fertilizer supply and demand dynamics drove significantly higher nutrient values through most of 2021 and 2022. Nitrogen fertilizer pricing declined through 2023 amid lower energy costs and increases in global supply availability, but remained favorable relative to historical levels. Pricing and spreads strengthened in 2024 and margins remained favorable in 2025 despite rising raw material inputs, which we believe is reflective of an increasingly recognized sulfur value proposition and observed growth in demand. Our ammonium sulfate product is positioned with the added value proposition of sulfur nutrition to increase yields of key crops. In addition, due to its nutrient density, the typical ammonium sulfate product delivers pound for pound the most readily available sulfur and nitrogen to crops as compared to other fertilizers. We produce a high-quality granular grade of ammonium sulfate to meet the growing demand of our customers. We expect sulfur nutrition demand to grow 3%-4% per year with potential upside driven by increased adoption of ammonium sulfate on soybeans. In addition, there are significant anti-dumping duties in place in the U.S. against Chinese ammonium sulfate, which are subject to customary sunset review in 2028. We also directly supply packaged ammonium sulfate to customers, primarily in North America, and have diversified and optimized our offerings to include spray-grade adjuvants to support crop protection, as well as other specialty fertilizers and products for industrial use. Chemical Intermediates. Chemical intermediates are used as key inputs for a variety of end market products including construction materials, paints and coatings, packaging agrochemical, water treatment, pharmaceutical and consumer applications. The primary products are acetone, phenol, AMS, cyclohexanone and a range of alkyl and specialty amines. Acetone and phenol represent 5
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approximately 59% and 8%, respectively, of our chemical intermediates sales. Acetone global demand totals approximately 7.6 million metric tons with the U.S. representing approximately 13% of the global market. Major end-uses for acetone are methyl methacrylate, polycarbonate, epoxy resins, ketones and solvents used widely in automotive and construction, as well as agrochemicals. Polycarbonate and epoxy resins are the largest global end-use for phenol, followed by phenolic resins which are used in construction products, such as wood resins. Industry operating rates for phenol and acetone production have fallen in recent years and are estimated to be approximately 70% globally and low to mid 60% in the U.S. with reduced consumer demand and significant additional capacity additions in Asia, particularly China. Prices for acetone are influenced by its own supply and demand dynamics but can also be influenced by the underlying move in propylene input costs. In the U.S., where we primarily sell our acetone, there were elevated levels of acetone imports during 2018 and 2019 given high industry operating rates globally, which pressured regional pricing and spreads. As a result of strong global acetone demand driven by favorable COVID-related acetone derivative drivers (hand sanitizers and acrylic screens) in addition to the implementation of acetone anti-dumping duties, acetone imports into the U.S. declined in recent years, creating more favorable supply and demand conditions for the product and improved pricing. Industry-realized acetone prices over refinery grade propylene costs generally remain healthy and continued balanced to tight global supply and demand as lower global phenol operating rates continue to persist. Looking forward, further reductions in interest rates would likely support phenol demand in building and construction applications for both renovation and new builds. Demand across the rest of the Chemical Intermediates portfolio is mixed overall though these products do represent platforms serving high-value applications in support of longer-term growth and profitability. Competition Competition across our product offerings is based on a variety of factors including price, reliability of supply, quality, product innovation, breadth of product line, R&D efforts and technical and managerial capability. While the competitive position of our individual products varies, we believe we are a significant competitor in each major product class. For Nylon Solutions, we compete with integrated manufacturers such as BASF Corporation, UBE Corporation, DOMO Chemicals GmbH, Envalior, Highsun Group Holdings Ltd., and Sinopec Limited. For Plant Nutrients, like Nylon, we compete with caprolactam/ammonium sulfate co-product manufacturers and direct ammonium sulfate producers such as Pasadena Commodities International and Nutrien Ltd. For Chemical Intermediates, we compete with stand-alone phenol and acetone producers, such as INEOS Phenol and Altivia, and, with respect to our amines product line, our key alkyl amines U.S.-based competitor is Eastman Chemical Company. Product Overview Nylon and Caprolactam We manufacture our Nylon 6 resin in our Chesterfield plant. We sell our Nylon 6 resin globally, primarily under the Aegis® brand name. In 2025, our Nylon products generated $310 million of sales. In 2025, 2024 and 2023, Nylon sales were 20%, 23% and 23% of our total sales, respectively. We produce caprolactam, the key monomer used in the production of Nylon 6 resin, at our Hopewell plant using phenol produced at our Frankford plant and sulfur and natural gas obtained from third-party suppliers. In 2025, caprolactam generated $271 million of sales. In 2025, 2024 and 2023, caprolactam sales were 18%, 18% and 20% of our total sales, respectively. Plant Nutrients Ammonium sulfate fertilizer is produced simultaneously with caprolactam as part of our integrated manufacturing process at our Hopewell plant. We manufacture this product in a ratio of approximately four pounds of ammonium sulfate to one pound of caprolactam. Our co- product competitors typically produce approximately two pounds or less of ammonium sulfate for each pound of caprolactam. We are targeting converting approximately 75% of the ammonium sulfate we produce into higher-value granular form by year end 2026 in connection with our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program. We also manufacture and sell ammonia, sulfuric acid and carbon dioxide as part of our integrated operations at Hopewell. We sell ammonium sulfate under the brand name Sulf-N®, and in 2025, our Plant Nutrients products generated $564 million of sales. In 2025, 2024 and 2023, Plant Nutrient saleswere 37%, 30% and 31% of our total sales, respectively. Chemical Intermediates We manufacture, market and sell chemical intermediates to a range of customers for use in many different types of end-products. In 2025, chemical intermediates generated $377 million of sales, of which $281 million, or 75%, came from sales of acetone, phenol and cyclohexanone, and $96 million, or 25%, came from sales of our other chemical intermediates. In 2025, 2024 and 2023, sales of chemical intermediates were 25%, 29% and 26% of our total sales, respectively. The phenol we produce at our Frankford plant is a key chemical intermediate used in our caprolactam manufacturing process. The majority of the phenol we produce is used in production of caprolactam and other chemical intermediates at Hopewell. Any remaining 6
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phenol is sold to customers for use in their product applications such as phenolic resins, alkyl phenols and Bisphenol A used for epoxy resins and polycarbonate. All our acetone is sold to customers for use in products such as methyl methacrylate, polycarbonate, epoxy resins, ketones and solvents used widely in automotive and construction, as well as agrochemicals. Acetone is typically used by our customers as a key raw material in the production of a variety of other chemicals which are then used in the applications listed above. We also produce and sell AMS, cyclohexanone, oximes and cyclohexanol to customers for use in end-products such as resins, inks, paints, coatings and electronic components. The majority of cyclohexanone we produce is used in our caprolactam manufacturing process with the remainder sold to customers. Through our U.S. Amines sites, we also produce and sell alkyl-amines and specialty amines which are used in agrochemical intermediates, water treatment and pharmaceutical applications. Raw Materials The primary raw material used in our manufacturing process is cumene, which is produced from benzene and propylene. We purchase cumene from multiple suppliers to ensure stability of supply and optimal terms. Other important raw materials used in our manufacturing process are natural gas and sulfur, which are used to produce caprolactam and ammonium sulfate. We purchase natural gas and sulfur from a diverse set of suppliers. Historically, we have been able to renew contracts with our suppliers and obtain sufficient quantities of cumene, sulfur, natural gas and any other key raw materials. Global supply and demand can significantly impact the price of our key raw materials, and historically prices have been cyclical. Prices for our key raw materials are typically on a monthly settlement basis for benzene, propylene and natural gas, or on a quarterly settlement basis for sulfur. We mitigate our exposure to commodity price risk primarily through the use of medium- and long-term, formula-based price contracts with our suppliers and formula-based price agreements with customers which structurally pass through increases or decreases in raw material costs. While formula or index-based pricing agreements are more common for benzene and propylene across our Nylon Solutions and Chemical Intermediates portfolio, a portion of our natural gas and sulfur exposure is also structurally passed through in certain customer agreements. Sales in our Plant Nutrients business line are priced on a freely negotiated basis. Sales, Marketing and Distribution We have a sales force with global reach, long-standing customer relationships and deep expertise with our products, product applications and end markets. In Nylon and Chemical Intermediates we predominantly sell directly to our customers, primarily under contracts but also through spot transactions under purchase orders and through distributors. In Plant Nutrients, the majority of sales, while to long standing customers, are freely-negotiated transactions under purchase orders. Our products are supported by our global logistics capability that we employ to ensure reliable and timely delivery to our customers while maximizing distribution resources and efficiency. Customers AdvanSix serves approximately 375 customers annually, primarily in the United States, with global capabilities, spanning a wide variety of industries. In 2025, the Company's 10 largest customers accounted for approximately 40% of total sales. Our largest customer is Shaw Industries Group Inc. ("Shaw"), one of the world's largest consumers of caprolactam and Nylon 6 resin. We sell caprolactam and Nylon 6 resin to Shaw under a long-term agreement. Sales to Shaw were 10% of our total sales for the years ended December 31, 2025 and 2024, and 11% for the year ended December 31, 2023. We typically sell to our other customers under master services agreements, with primarily one-year terms, or by purchase orders. We have historically experienced low customer turnover. Seasonality Our ammonium sulfate fertilizer product line experiences quarterly sales seasonality reflecting both geographical and product sales mix considerations based on the timing and length of the growing seasons in North and South America. The North American fertilizer season typically runs from July, when the value chain begins restocking fertilizer, through June of the following year, when most application for the year’s planting is completed. The new season fill begins in the third quarter and proceeds sequentially into the following spring, which is the peak period for crop fertilizer application. As a result of this pattern, North American ammonium sulfate demand and pricing, particularly for our higher-value granular product, are typically strongest in the first half of the year through application for the spring crop and then decline in the second half of the year. Ammonium sulfate industry prices in the corn belt have declined approximately 12% from the second quarter to the third quarter, on average, since 2016. Due to the ammonium 7
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sulfate fertilizer sales cycle, we occasionally build higher inventory balances because our production is continuous throughout the year and not tied to seasonal demand for fertilizers. Sales of most of our other products have generally been subject to minimal, or no, seasonality. Research & Development and Intellectual Property We believe success in our industry is driven not only by operational excellence and cost position but also through technological strength and innovation. Our R&D activities are regularly prioritized and funded with a stage gate approach with a primary emphasis on improving our chemical manufacturing processes to increase efficiency, capacity and productivity, lowering production and operating costs, and innovating and developing new product applications. We benefit from numerous patents and trademarks that we own. We sell our Nylon 6 resin under the Aegis® brand name and our ammonium sulfate fertilizer under the Sulf-N® brand name. Certain of our chemical intermediates are sold under the brand names of Nadone®, Naxol® and EZ-Blox®. We also benefit from technology protected by trade secrets, know-hows and other proprietary measures particularly on aspects pertaining to product formulations, processes and technologies. At the present time, we do not consider any individual patent, trademark or licensing or distribution rights related to a specific process or product to be of material importance in relation to our overall business. In our judgment, our intellectual property rights are adequate for the conduct of our business and for sustained competitive advantages. We intend to continue taking steps as necessary to protect our intellectual property, including when appropriate, filing patent applications for inventions that are deemed important to our business, defending our patent rights, and enforcing our exclusivity positions worldwide. We conduct R&D at our technology center with researchers at our manufacturing site in Chesterfield, Virginia, although certain of our manufacturing technology-specific R&D activities are conducted on site where manufacturing takes place. Regulation and Environmental Matters We are subject to various federal, state, local and foreign government requirements regarding protection of human health and the environment. Compliance with these laws and regulations results in higher capital expenditures and costs. We believe that, as a general matter, our policies, practices and procedures are properly designed to prevent unreasonable risk of environmental impact, and any resulting financial liability. Some risk of environmental impact is, however, inherent in some of our operations and products, as it is with other companies engaged in similar businesses. We are and have been engaged in the handling, manufacture, use and disposal of many substances classified as hazardous by one or more regulatory agencies. It is possible that future knowledge or other developments, such as improved capability to detect substances in the environment or increasingly strict environmental laws, standards and enforcement policies, could bring into question our current or past handling, manufacture, use or disposal of these substances. Among other environmental laws and regulations, we are subject to the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act and similar state, foreign and global laws for management and remediation of hazardous materials; the Clean Air Act and the Clean Water Act, for protection of air and water resources; the Toxic Substance Control Act, for regulation of chemicals in commerce and reporting of potential known adverse effects. There are also numerous other federal, state, local and foreign laws and regulations governing materials transport and packaging, under which we may be designated as a potentially responsible party liable for cleanup costs associated with current operating sites and various hazardous waste sites. Our business may be impacted by potential climate change legislation, regulation or international treaties or accords in the foreseeable future. We will continue to monitor emerging developments in this area. Our accounting policy for environmental expenditures is discussed in “Note 2. Summary of Significant Accounting Policies” to the audited Consolidated Financial Statements included in this Form 10-K. We continuously seek to improve our health, safety and environmental ("HSE") performance. We have expended funds to comply with environmental laws and regulations and expect to continue to do so. Our Frankford and Hopewell facilities are regulated facilities under the Maritime Transportation Security Act of 2002 due to the nature of our operations and the proximity of the facilities to adjacent waterways. As a result, we are required to comply with numerous regulations administered by the Department of Homeland Security, including the development and implementation of compliant security procedures and protocols. Additionally, sales of certain of our products, such as acetone and amines, may implicate List II or other considerations under the Drug Enforcement Act. Such classifications subject us to further compliance audits by the relevant federal and state agencies and place ongoing restrictions on our sales activities. 8
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See “Risk Factors – Extensive environmental, health and safety laws and regulations applicable to our operations, including initiatives related to discharges into the air and water, hazardous waste, sustainability, global warming and climate change, may result in substantial costs and unanticipated loss or liability, which could adversely affect our business, financial condition and results of operations” in Item 1A. Human Capital Management As a company, we recognize that our people are our greatest asset and the foundation of our success. We feel a deep sense of responsibility to provide a safe, inclusive and engaging workplace for all our employees and contractors, and strive for a zero-incident safety culture. Our core values of Safety, Integrity, Accountability and Respect guide our day-to-day activities and inform our broader business strategy as we drive safe, stable and sustainable operations through an ownership mentality aligned to shareholder value creation. Our Board, along with management and cross-functional teams, work closely to evaluate and proactively address human capital management topics such as safety, employee development, employee benefits and employee engagement and inclusion. Employees As of December 31, 2025, the Company employed approximately 1,410 people. Of this total, approximately 560 are salaried employees and approximately 850 are hourly employees. Approximately 720 employees are covered under collective bargaining agreements that expire between 2028 and 2029. The Company strives to maintain positive and productive relationships with all of its employees, including the unions representing those employees. Oversight and Management Our Board and Board committees provide oversight on various human capital management matters. As noted in their respective charters: • Our Health, Safety, and Environmental Committee oversees policies and programs relating to HSE matters, including process safety, HSE management systems and compliance with HSE regulations and compliance. • Our Nominating and Governance Committee annually evaluates the effectiveness of our corporate governance framework and corporate social responsibility policies, goals and programs, including oversight of sustainability matters, community engagement and government affairs, as well as such other matters regarding the Company's role as a responsible corporate citizen. • Our Audit Committee exercises oversight of enterprise risk assessments and risk management including with respect to current and emerging labor and human capital management risks and seeks to mitigate exposure to those risks. • Our Compensation and Leadership Development Committee is responsible for oversight of the performance, development and retention of senior and executive management necessary to support the growth and success of the Company. Health and Safety At AdvanSix, safety is our number one core value — we “Live Safety” in all we do. “Live Safety” is an interdependent concept meaning that employees care not only for their own safety, but for the safety of their teammates and the communities in which we operate. AdvanSix is a Responsible Care® company with a focus on personal and process safety and advancing as a sustainable enterprise. Responsible Care® is the environmental, health, safety and security performance initiative of the American Chemistry Council (ACC). AdvanSix has demonstrated its commitment to the Responsible Care® Guiding Principles, which encourage ethical leadership, product safety, a culture which reduces and manages process safety risk, reduction of pollution and waste, and continuous improvement in environmental, health, safety and security performance. As an organization, we maintain a relentless focus on continuous improvement and our vision is zero injuries for employees and contractors. Our CARE program — Courage to Act, Respond and Engage — was launched in 2019 and inspires us to Live Safety in all we do. We use the industry standard Total Case Incident Rate ("TCIR") to measure our ongoing safety performance and compare with benchmarks. TCIR is defined as the number of occupational injuries and illnesses per 100 employees. Our TCIR was 1.48 in 2025, 1.16 in 2024 and 0.97 in 2023. Engagement and Inclusion At AdvanSix, we strive for an inclusive work environment that fosters respect for all our coworkers, customers, suppliers and business partners. We value the diversity reflected in the various backgrounds, experiences, and ideas of our directors, employees, contractors, andother stakeholders. We strive to represent the communities in which we operate, celebrate our differences, inspire belonging, and are tenacious in our pursuit of bringing out the best in people both individually and collectively. Our Code of Conduct outlines our commitment to provide employees a workplace that is free from discrimination or harassment (specifically related to gender, race, 9
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disability, ethnicity, nationality, religion and sexual orientation) or personal behavior not conducive to a productive and inclusive work climate. We believe it is important that each employee feels a sense of belonging and is valued as part of the organizational culture we are cultivating, and we feel it is important that each employee sees diverse representation across our AdvanSix team. We created a program in 2022 for inclusive leadership, ensuring our leaders understand and have the tools to create an inclusive environment where all can thrive. Our third inclusive leadership cohort kicked off a full year of experiential learning commencing in 2024 and concluding in 2025. AdvanSix also seeks to improve gender equality in the manufacturing industry, starting with supporting science, technology, engineeringand math (STEM) education and work in related fields. Supporting Women in Manufacturing (SWiM), an AdvanSix Employee Resource Group, was formed in 2019 with the goal of promoting women in manufacturing, female leadership and growth in STEM-related fields. SWiM seeks to raise awareness on these matters through programs, events and discussions, including networking, professional development, outreach, volunteering and internal programs highlighting leadership and career paths in multiple disciplines. AdvanSix is committed to pay equity for its employees and regularly performs reviews of its compensation practices to evaluate and maintain pay equity in several respects, including by gender, ethnicity and race. At a national level, AdvanSix continues its participation as a patron level supporter of the American Institute of Chemical Engineers’ ("AIChE") “Doing a World of Good” initiative that actively supports five high priority pillars within the chemical engineering field that align closely with sustainability and environmental, social and governance focus including engagement and inclusion. In addition, AdvanSix supports the Future of STEM Scholars Initiative ("FOSSI"), a national, industry-wide program which provides scholarships to students pursuing STEM degrees at Historically Black Colleges and Universities ("HBCUs") and connections to internships, leadership development and mentoring opportunities. In 2025, we offered summer internships to our FOSSI scholars and two of our FOSSI graduates joined AdvanSix as full-time employees. Employee Development AdvanSix seeks to attract the best talent from a diverse range of sources in order to meet the needs of our business now and in the future. We have established strong relationships with community colleges, universities, professional associations and industry groups with a focus on technical positions and development in order to attract talent including by utilizing co-op, internship programs and as a talent pipeline. We have emphasized investing in our talent and focusing on developing our people to incorporate opportunities for advancement based on experiential learning and development. We acknowledge that development is a career-long endeavor and place the greatest emphasis on learning by doing, supported by feedback, training, and self-reflection. AdvanSix promotes development through training that broadens work-related skills. These include: • Core competencies for all employees to develop and apply; • Leadership competencies needed by all employees managing people; and • Functional competencies that are position specific and used to inform job progression. We support the continued development of our employees through semi-annual performance and development reviews, including annual enterprise-wide talent development assessments to ensure leadership development and succession planning. We conduct safety and environmental training for new employees as part of HSE orientation, along with job-specific training aligned to roles. Our hands-on coaching and development initiative focused on our front-line teammates is designed to support safe, stable and sustainable operations, providing our operational workforce with the right tools and processes to execute their work efficiently while enabling streamlined decision making to best serve our customers. A highly trained and engaged workforce is essential for AdvanSix to be our customers’ trusted partner, and those partnerships are built by delivering best-in-class experiences that result in satisfied customers and support shareholder return. Employee Benefits Our compensation programs are designed to align employee compensation with Company performance and to provide appropriate incentives in order to attract, retain and motivate our employees. We believe that in order to maintain the strength of our workforce, it is critical to monitor and assess the current business environment and labor market to refine our compensation and benefits programs and other resources available to our employees. We seek to offer compensation that is competitive and consistent with employee positions, skill levels, experience and geographic location. In addition to offering competitive base salaries, AdvanSix structures its compensation programs to balance incentive earnings for both short-term and long-term performance. Our compensation and benefit programs are designed to support our business strategy through four key objectives: • Attract and retain best-in-class talent; • Drive and pay for performance that creates superior results and sustainable stockholder value; • Manage risk through oversight and sound management; and • Nurture a culture of employee health and wellness. 10
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Information about our Executive Officers The executive officers of AdvanSix, listed as follows, are appointed annually by the Board. There are no family relationships among them or our Board members. Name, Age Position Business Experience Erin N. Kane, 48 President andChief ExecutiveOfficer andDirector Ms. Kane has served as our President and Chief Executive Officer and as a Director sincethe spin-off in 2016. Prior to being named to her current role, Ms. Kane served as vicepresident and general manager of Honeywell Resins and Chemicals since October 2014.She joined Honeywell in 2002 as a Six Sigma Blackbelt of Honeywell’s SpecialtyMaterials business. In 2004, she was named product marketing manager of Honeywell’sSpecialty Additives business. From 2006 until 2008, Ms. Kane served as global marketingmanager of Honeywell’s Authentication Technologies business, and in 2008 she wasnamed global marketing manager of Honeywell’s Resins and Chemicals business. In 2011,she was named business director of chemical intermediates of Honeywell’s Resins andChemicals business. Prior to joining Honeywell, Ms. Kane held Six Sigma and processengineering positions at Elementis Specialties and Kvaerner Process. Ms. Kane serves onthe Boards of Directors of AdvanSix Inc., the Chemours Company, and the AmericanChemistry Council. She served on the Board of Directors of the AIChE from 2019 through2021. Christopher Gramm, 56 Vice Presidentand Interim ChiefFinancial Officer Mr. Gramm has served as our Vice President and Interim Chief Financial Officer since July2025. Prior to being named to his current role, Mr. Gramm served as the vice president,financial planning and analysis of AdvanSix since March 2025 and as vice president,controller and principal accounting officer of AdvanSix from the spin-off in 2016 throughMarch 2025. Before joining AdvanSix, Mr. Gramm served in various roles of increasingresponsibility at Honeywell. He joined Honeywell in 1997 as a senior staff accountant.From 1997 to March 2011, Mr. Gramm held several positions at Honeywell, includingcontroller and chief financial officer of various divisions focused on areas includingspecialty materials and resins and chemicals. Beginning in March 2011, he was vicepresident and controller of the aerospace division at Honeywell. Additionally, from August2014 to November 2015, Mr. Gramm served as vice president of finance for the integratedsupply chain of the aerospace division at Honeywell. Before joining Honeywell, Mr.Gramm was a manager at Corning Life Sciences. Achilles B. Kintiroglou, 47 Senior VicePresident,General Counseland CorporateSecretary Mr. Kintiroglou has served as our Senior Vice President, General Counsel and CorporateSecretary since 2020. Prior to being named to his current role, Mr. Kintiroglou served asthe deputy general counsel of AdvanSix since the spin-off in 2016. Before joiningAdvanSix, he was a corporate and securities partner at Day Pitney LLP and a corporate andfinance associate at Pillsbury Winthrop Shaw Pittman LLP and Pitney Hardin LLP. Kelly J. Slieter, 51 Senior VicePresident andChief HumanResourcesOfficer Ms. Slieter has served as our Senior Vice President and Chief Human Resources Officersince 2020. Prior to being named to her current role, Ms. Slieter served as vice president ofhuman resources of Honeywell International Inc. since 2018. She joined Honeywell in1997 as an intern and subsequently served in various human resources roles through 2003,including as M&A integration leader and as HR manager for multiple business units. From2003 to 2004, she served as human resources manager at Bristol-Myers Squibb Company.From 2004 to 2005, she served as organization development manager for TycoInternational. Ms. Slieter rejoined Honeywell in 2005 and served in roles with increasingresponsibility through 2015, including, director of HR functional excellence, corporate;director of organization development & learning for the Automation & Control Solutionsbusiness; director of human resources for Honeywell Building Solutions; and seniordirector, human resources corporate. From 2015 through 2018, she served as vicepresident, human resources of the Honeywell UOP business. Other Information Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports are available free of charge on our website (www.AdvanSix.com) under the heading Investors (see SEC Filings) immediately after they are filed with, or furnished to, the Securities and Exchange Commission (the "SEC"). In addition, in this Form 10-K, the Company incorporates by reference certain information from parts of its Proxy Statement for the 2026 Annual Meeting of Stockholders, which will also be available free of charge on our website. Information contained on, or that may be accessed through, our website does not and will not constitute part of this Form 10-K. Our filings with the SEC are also available on the SEC website at www.sec.gov. 11
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We are a Delaware corporation that was incorporated on May 4, 2016. Our principal executive offices are located at 300 Kimball Drive, Suite 101, Parsippany, NJ 07054. Our telephone number is (973) 526-1800. Our website address is www.AdvanSix.com. 12
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Item 1A. Risk Factors Cautionary Statement Concerning Forward-Looking Statements All statements other than statements of historical fact included in this Form 10-K including, without limitation, statements under “Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other parts of this Form 10-K regardingour financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statementswithin the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). When used in this Form 10-K, 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 identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, ourmanagement. They are not guarantees of future performance and actual results could differ materially from those contemplated by theforward-looking statements as a result of certain factors detailed in our filings 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 undertaketo update or revise any of our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties thatcan affect our performance in both the near- and long-term. These forward-looking statements should be considered in light of theinformation included in this Form 10-K, including, in particular, the factors discussed below. These factors may be revised orsupplemented in subsequent reports on Forms 10-Q and 8-K. Risk Factors Our business could be affected by various risks, many of which are beyond our control. We believe the following identifies the principalrisks that could materially and adversely affect our business, financial condition and results of operations and the actual outcome ofmatters as to which forward-looking statements are made in this Form 10-K. Risks Relating to Our Business The industries in which we operate experience cyclicality which can cause significant fluctuations in our cash flows and may adverselyaffect our business, financial condition and results of operations. Our historical operating results reflect the cyclical nature of the industries in which we operate including with respect to our Nylon 6 resin,caprolactam, ammonium sulfate fertilizer, phenol and acetone products. We experience cycles of fluctuating supply and demand for eachof our products resulting in changes in selling prices and margins. Periods of high demand, tight supply and increasing operating marginstend to result in increases in capacity and production until supply exceeds demand, generally followed by periods of oversupply anddeclining prices. While we strive to maintain or increase our profitability by reducing costs through improving production efficiency, byemphasizing higher margin products and by seeking to control transportation, selling and administration expense, there can be noassurance that these efforts will be sufficient to offset, in whole or in part, the effect of possible decreases in pricing on our operatingresults. Additionally, as a result of potential cyclicality, there can be no assurance that pricing or profitability in the future will becomparable to any historical period, including the most recent period shown in our operating results. Changes in industry and customertrends for our products could adversely affect our business, financial condition and results of operations. Difficult and volatile conditions in the overall economy, particularly in the United States but also globally, and in the capital, credit andcommodities markets could adversely affect our business, financial condition and results of operations. Our business, financial condition and results of operations could be adversely affected by domestic and global economic conditions andsignificant volatility in the capital, credit and commodities markets and in the overall economy. Adverse economic events, includinginflation and potential recessionary pressures, interest rate volatility, supply chain issues, labor market shortages, trade conflicts includingexport and import restrictions, tariffs and other trade barriers, any economic volatility or uncertainty resulting from new or proposedregulatory, trade or other governmental policies, pandemics and any resurgences thereof, the threat of war and geopolitical concerns anduncertainties, including as a result of the conflict between Russia and Ukraine, conflicts and hostilities in Israel, Gaza, Iran and Venezuela,as well as any related instability in the surrounding regions and possible expansion of such conflicts, sovereign debt and economic crises,domestic or international terrorism, and protectionism could have a negative impact on the health of the global economy. Thesedevelopments, or the perception that any of them could occur, may have a material adverse effect on global economic conditions or on thestability of global financial markets which may affect us and our customers. For example: • Weak economic conditions, especially in our key value chains and end markets, could reduce demand for our products, impactingour sales and margins; • As a result of volatility in commodity prices and inflation, we may encounter difficulty in achieving sustained market acceptanceof past or future price increases; • In addition, in the event of continued high inflationary pressure, we may not be able to adjust our pricing or increase our productivity and reduce our costs to a level sufficient to offset increased costs, which could reduce our margins and profitability; • Market conditions, including those arising from any current or proposed regulatory, tariff, trade or other policies of the U.S. government could result in our key customers experiencing financial difficulties and/or electing to limit spending, which in 13
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turn could cause decreases in demand for our products, decreased product prices and lower volumes and margins, potentiallyresulting in decreased sales and earnings; • Under difficult market conditions, there can be no assurance that access to credit or the capital markets would be available to usor sufficient, and as such, we may not be able to successfully refinance our existing credit facility or obtain additional financingon reasonable terms, or at all; and • Market conditions and credit availability could adversely affect the financial situation of raw material suppliers and their abilityto deliver key materials, thus impacting our ability to run our production facilities at the intended rates. We are unable to predict the duration of economic conditions, whether current economic conditions may erode further over time, or the effects of such conditions on financial markets or our business and results of operations. Volatility and uncertainty surrounding future economic conditions such as inflation, potential recessionary pressures or rising interest rates may at times make it challenging to identify risks that may affect our business, sources and uses of cash, financial condition and results of operations. If economic conditions deteriorate, our results of operations, financial condition and cash flows could be materially adversely affected. Any significant unplanned downtime or material disruption impacting any of our production facilities, logistics operations orinformation technology infrastructure, or any third party on which we rely, may adversely affect our business, financial condition andresults of operations. We seek to run our complex production facilities on a nearly continuous basis for maximum efficiency and we rely on the integrity of ourlogistics operations for the uninterrupted operations of our business. While we have made significant annual capital improvements at ourmanufacturing plants and utilize maintenance excellence and mechanical integrity programs, operational issues have occurred for us in thepast and may occur in the future, which could cause damage to our manufacturing and production equipment and ancillary facilities aswell as unplanned downtime. As a result of the scale and quantity and range of our product offerings, as well as the significant level of integration across ourmanufacturing facilities, we are exposed to increased risk associated with unplanned downtime or material disruptions at any one of ourproduction facilities, which have occurred in the past and which may occur in the future, and which adversely impact our supply chain andour manufacturing process. At the time of any unplanned interruption at our production facilities, we may not have enough intermediatechemical inventory at any given time to offset production losses. Our business interruption insurance coverage may not cover all costs orlosses associated with unplanned downtime, or such insurance may not continue to be available in amounts or on terms acceptable to us, orat all. Moreover, taking our production facilities offline for regularly scheduled repairs can be an expensive and time-consuming operationand carry the risk that discoverable items and delays during the repair process may cause additional unplanned downtime. Any suchunplanned downtime or interruptions in our production capabilities at any of our production facilities may adversely affect our productioncosts, product lead times, our ability to supply our customers on a timely basis, potential loss of customers, and our earnings during theaffected period, which in turn would adversely impact our business, financial condition and results of operations. Our production facilities and logistics operations, as well as those of our suppliers or other third parties on which we rely, are also subject to the risk of catastrophic loss and material disruptions due to unanticipated events, such as unexpected repairs or other operational and logistical problems, severe weather conditions, personal injury or major accidents, prolonged power failures, chemical spills, fires, explosions, acts of terrorism, earthquakes, pandemics or other natural disasters, that we or such third party may experience. While we seek to mitigate our risk of unplanned interruptions, we have experienced such unplanned interruptions in the past with respect to both our operations and the operations of third parties as described in our reports filed or furnished with the SEC, and there is no assurance that we or other third parties on which we rely will not experience unplanned interruptions in the future. In addition, disruptions to our information technology infrastructure from system failures, shutdowns, power outages, telecommunication or utility failures, cybersecurity incidents,and other events, including disruptions at our cloud computing, server, systems and other third party IT service providers, or as a result of system upgrades or digital transformation, could interfere with our operations, interrupt production and shipments, damage customer and business partner relationships, and negatively impact our reputation. Depending on the nature, extent and length of any interruption from any such event, the results could adversely affect our business, financial condition and results of operations. Raw material price fluctuations and the ability of key suppliers to meet delivery requirements can increase the cost of our products andservices, impact our ability to meet commitments to customers and cause us to incur significant liabilities. The cost of raw materials, including cumene, natural gas and sulfur, is a key element in the cost of our products. Our inability to offsetmaterial price inflation through increased prices to customers, formula-based or long-term fixed price contracts with suppliers,productivity actions or commodity hedges could adversely affect our business, financial condition and results of operations. Although we believe that our sources of supply for raw materials are generally appropriate for our expected needs, it is difficult to predictthe impact that shortages of raw materials or price increases may have in the future. Our ability to manage inventory and meet deliveryrequirements may be constrained by our suppliers’ inability to scale production and adjust delivery of long lead-time products duringperiods of fluctuating demand. Our inability to satisfy our supply needs would jeopardize our ability to fulfill obligations under contracts,which could, in turn, result in reduced sales and profits, contract penalties or terminations and damage to customer relationships. 14
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When possible, we have purchased, and we plan to continue to purchase, raw materials, including cumene, natural gas and sulfur, throughnegotiated medium- or long-term contracts. To the extent we have been able to achieve favorable terms in our existing negotiatedcontracts, we may not be able to renew such contracts at the current terms or at all, and this may adversely impact our results ofoperations. Further, if the markets for our raw materials significantly change, we may be bound by the terms of our existing suppliercontracts and obligated to purchase raw materials at disadvantaged terms as compared to other market participants. Disruptions in transportation or significant changes in transportation costs could adversely impact our business, financial conditionand results of operations. We rely heavily on third party transportation to deliver raw materials to our facilities and ship products to our customers. Transport andpipeline operators are exposed to various risks, such as extreme weather conditions, natural disasters, work stoppages, personnel shortages,and operating hazards, as well as interstate and international transportation requirements. If we experience transportation problems, or ifthere are other significant changes in the cost of these services, we may not be able to arrange efficient alternatives and timely means toobtain raw materials or ship products to our customers. We seek to maintain appropriate buffer inventory of intermediate chemicalsnecessary for our manufacturing process, which is intended to mitigate the extent of any delays or disruptions in supply chain logistics.However, our failure to obtain raw materials, ship products or maintain sufficient buffer inventory could materially and adversely impactour business, financial condition and results of operations. The loss of one or more of our significant customers could adversely affect our business, financial condition and results of operations. Our business depends on significant customers, many of whom have been doing business with us for decades. The loss of one or severalsignificant customers may have an adverse effect on our business, financial condition and results of operations. In 2025, our 10 largestcustomers accounted for approximately 40% of our total sales across all product lines. Our largest customer is Shaw, one of the world’slargest consumers of Nylon 6 resin and caprolactam. We sell caprolactam and Nylon 6 resin to Shaw under a long-term agreement. Wetypically sell to other customers under master services agreements, with primarily one-year terms, or by purchase orders. If our sales toany of our significant customers were to decline, we may not be able to find other customers to purchase the excess supply of ourproducts. The loss of one or several of our significant customers, or a significant reduction in purchase volume by any of them, orsignificant unfavorable changes to pricing or other terms in contracts with any of them, could have an adverse effect on our business,financial condition and results of operations. We are also subject to credit risk associated with customer concentration. If one or more ofour largest customers were to become bankrupt or insolvent, or otherwise were unable to pay for our products, we may incur significantwrite-offs of accounts that may have an adverse effect on our business, financial condition and results of operations. Our operations and growth projects require substantial capital, and we may not be able to obtain additional capital that we need in thefuture on favorable terms or at all. Our industry is capital intensive, and we may require additional capital in the future to finance our growth and development, upgrade and improve our manufacturing capabilities, satisfy regulatory and environmental compliance obligations, achieve sustainability priorities or goals adopted by the Company, implement further marketing and sales activities, fund ongoing R&D activities, and meet general working capital needs. Our capital requirements will likely depend on many factors, including acceptance of and demand for our products, the extent to which we invest in new technology, new products and R&D projects and the status and timing of these developments. Our capital projects and other growth investments may have lengthy deadlines during which market conditions may deteriorate between the capital expenditure’s approval date and the conclusion of the project, negatively impacting projected returns on our investments. Delays or cost increases related to capital and other spending programs, including those relating to plant improvements and development of new technologies, could materially adversely affect our ability to achieve forecasted operating results. In addition, we may need to seek additional capital in the future, and debt or equity financing may not be available to us on terms we find acceptable, if at all.Circumstances involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or the financial services industry generally, or concerns about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could significantly impair our access to funding sources or other credit arrangements in amounts adequate to finance our current and future business operations or could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or limitations on access to credit and liquidity sources, thereby making it more difficult for us to acquire financing on acceptable terms or at all. If we incur additional debt or raise equity through the issuance of our preferred stock, the terms of the debt or our preferred stock may give the holders rights, preferences and privileges senior to those of holders of our common stock, particularly in the event of liquidation. If we raise funds through the issuance of additional common equity, ownership in AdvanSix would be diluted. We believe that we currently have adequate capital resources to meet our projected operating needs, capital expenditures and other expected cash requirements. However, we may need additional capital resources in the future, and if we are unable to obtain sufficient resources for our operating needs, capital expenditures and other cash requirements for any reason, our business, financial condition and results of operations could be adversely affected. Our competitive position, as well as our failure to develop and commercialize new products or technologies to address our customers’needs and to effectively compete, could adversely affect our business, financial condition and results of operations. Competition in the industries we serve is based on factors such as price, product quality and service. Additionally, the markets for ourproducts are characterized by significant competition, both regionally and internationally, new industry standards, evolving distributionmodels, customer price sensitivity, and disruptive product and manufacturing process innovations. In addition to changes 15
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in regulations, the impact of health, sustainability, and safety concerns could increase the costs incurred by our customers to use ourproducts and otherwise limit the use of these products, which could lead to decreased demand for these products. Any of these factorscould create pressure on pricing and gross margins and could adversely impact our business. As a result, our competitors may be able todeliver greater innovation, respond more quickly to new or emerging technologies and changes in market demand, allocate more resourcesto the development, marketing and sale of their products, successfully expand into emerging markets, improve their cost structures, orprice their products more aggressively than us. Our continued ability to enhance our existing product offerings, as well as the successful development and commercialization of newproducts and technologies, are drivers to our future strategy. The development and commercialization of new products and technologiesrequires significant investment in R&D, capital expenditures, production and marketing. The sales and development cycle for our productsis subject to customary budgetary constraints, internal acceptance procedures, competitive product assessments, scientific anddevelopment resource allocations and regulatory limitations, many of which may be beyond our control. If we are not able to successfullyaccommodate these factors to enable customer development success, we could be unable to achieve sufficient sales to reach the level ofprofitability we may expect or compete effectively. There is no assurance that we will be able to continue to identify, develop, market or,in certain cases, secure regulatory approval for, new products in a timely manner or at all, as may be required to replace or enhanceexisting products. We cannot be certain that costs incurred by investing in new products and technologies will result in an increase in ourrevenues or profits. Our ability to keep pace with our competitors and the success of any new products and technologies is uncertain andcould adversely affect our business, financial condition and results of operations. Hazards and compliance costs associated with chemical manufacturing, storage and transportation could adversely affect ourbusiness, financial condition and results of operations. There are hazards associated with chemical manufacturing and the related storage and transportation of raw materials, products andwastes. These hazards could lead to an interruption or suspension of operations and could have an adverse effect on the productivity andprofitability of a particular manufacturing facility, or on us as a whole. While we endeavor to provide adequate protection for the safehandling of these materials, issues could be created by various events, including natural disasters, severe weather events, acts of sabotage,human error, and performance by third parties, and as a result, we could face potential hazards such as piping and storage tank leaks andruptures, mechanical failure, employee exposure to hazardous substances and chemical spills and other discharges or releases of toxic orhazardous substances or gases. These hazards may cause personal injury and loss of life, damage to property and contamination of the environment, which could lead togovernment fines, work stoppage injunctions, lawsuits by injured persons, damage to our reputation and brand and diminished productacceptance. If such actions are determined to be adverse to us or there is an associated economic impact to our business, we may haveinadequate insurance or cash flow to offset any associated costs. Such outcomes could adversely affect our business, financial conditionand results of operations. Our business, financial condition and results of operations could be adversely affected by litigation and other commitments andcontingencies. We face risks arising from various unasserted and asserted litigation matters, including, but not limited to, product liability and claims forthird-party property damage or personal injury stemming from alleged environmental or other torts or otherwise. We have noted anationwide trend in, and could be the subject of, purported class actions against chemical manufacturers generally seeking relief such asmedical monitoring, property damages, off-site remediation and punitive damages arising from alleged environmental or other tortswithout claiming present personal injuries. We also have noted a trend in, and could be the subject of, public and private nuisance suitsbeing filed on behalf of states, counties, cities and utilities alleging harm to the general public. Various factors or developments can lead to changes in current estimates of liabilities such as a final adverse judgment, significantsettlements or changes in applicable law. An adverse outcome or unfavorable development in any one or more of these matters could bematerial to our financial results and could adversely impact the value of any of our brands associated with any such matters. In the ordinary course of business, we may make certain commitments, including representations, warranties and indemnities relating tocurrent and past operations, including those related to divested businesses, and issue guarantees of third-party obligations. Additionally, wemay be required to indemnify Honeywell for amounts related to liabilities allocated to, or assumed by, us in connection with our spin-off.If we are required to make any such payments, the payments could be significant and could exceed the amounts we have accrued withrespect thereto, adversely affecting our business, financial condition and results of operations. Any acquisition, strategic relationship, joint venture or investment could disrupt our business and harm our financial condition. Ourinability to successfully acquire and integrate other businesses, assets, products or technologies or realize the financial and strategicgoals that were contemplated at the time of any transaction could adversely affect our business, financial condition and results ofoperations. We actively evaluate acquisitions, strategic relationships, joint ventures, collaborations, and strategic investments in businesses, productsor technologies that we believe could complement or expand our business, broaden our technology and intellectual property or otherwiseoffer growth or cost-saving opportunities. Any of these transactions may be complex, time consuming and expensive, and may presentnumerous challenges and risks. Lack of control over the actions of our business partners in any strategic relationship, joint venture or collaboration could significantlydelay the introduction of planned products or otherwise make it difficult or impossible to realize the expected benefits of such relationship.An investment in, or acquisition of, complementary businesses, products or technologies could materially decrease the 16
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amount of our available cash or require us to seek additional equity or debt financing. We may not be successful in negotiating the terms ofany potential acquisition, conducting thorough due diligence, financing the acquisition or effectively integrating the acquired business,product or technology into our existing business and operations. Our due diligence may fail to identify all of the problems, liabilities orother shortcomings or challenges of an acquired business, product or technology, including issues related to intellectual property, productquality or product architecture, regulatory compliance practices, revenue recognition or other accounting practices or employee orcustomer issues. Additionally, in connection with any acquisitions we complete, we may not achieve the synergies or other benefits weexpected to achieve, and we may incur unanticipated expenses, write-downs, impairment charges or unforeseen liabilities that couldnegatively affect our business, financial condition and results of operations, have difficulty incorporating the acquired businesses, disruptrelationships with current and new employees, customers and vendors, incur significant debt or have to delay or not proceed withannounced transactions. Further, contemplating or completing an acquisition and integrating an acquired business, product or technologycould divert management and employee time and resources from other matters. The occurrence or threat of extraordinary events, including terrorist attacks, may disrupt our operations and could adversely affect ourbusiness, financial condition and results of operations. Due to concerns related to terrorism, we are subject to various security laws including Maritime Transportation Security Act of 2002(“MTSA”) regulations. Our Frankford and Hopewell facilities are regulated facilities under MTSA regulations due to the nature of ouroperations and the proximity of the facilities to adjacent waterways. Federal, state, local and foreign governments could implement new, orimpose more stringent regulations affecting the security of our plants, terminals and warehouses or the transportation and use of fertilizersor other chemicals. These regulations could result in higher operating costs or limitations on the sale of our products and could result insignificant unanticipated costs, lower sales and reduced profit margins. It is possible that federal, state, local and foreign governmentscould impose additional limitations on the use, sale or distribution of chemicals we produce and sell, thereby limiting our ability tomanufacture or sell those products, or that illicit use of our products could result in potential exposure for us. The occurrence ofextraordinary events, including future terrorist attacks and the outbreak or escalation of hostilities, cannot be predicted, and theiroccurrence can be expected to negatively affect the economy in general, and the markets for our products in particular. The resultingdamage from any attack on our assets could include loss of life and significant property damage. In addition, available insurance coveragemay not be sufficient to cover all of the damage incurred or, if available, may be prohibitively expensive. Failure to protect our intellectual property could adversely affect our business, financial condition and results of operations. Intellectual property rights, including patents, trade secrets, confidential information, trademarks, trade names and trade dress, areimportant to our business. We will endeavor to protect our intellectual property rights in key jurisdictions in which our products areproduced or used. However, we may be unable to obtain protection for our intellectual property in such key jurisdictions. Although weown and have applied for numerous patents and trademarks, we may have to rely on judicial enforcement of our patents and otherproprietary rights. Our patents and other intellectual property rights may be challenged, invalidated, circumvented, and renderedunenforceable or otherwise compromised. If we must take legal action to protect, defend or enforce our intellectual property rights, anysuits or proceedings could result in significant costs and diversion of our resources and our management’s attention, and we may notprevail in any such suits or proceedings. A failure to protect, defend or enforce our intellectual property could have an adverse effect onour business, financial condition and results of operations. Similarly, third parties may assert claims against us and our customers anddistributors alleging our products infringe upon third-party intellectual property rights. Such claims could result in significant costs anddiversion of our resources and our management’s attention and we may not prevail in any resulting suits or proceedings. We also rely materially upon unpatented proprietary technology, know-how and other trade secrets to maintain our competitive position.While we institute and maintain policies, internal security measures, and agreements to protect our trade secrets and other intellectualproperty, any failure to protect this intellectual property could negatively affect our future performance and growth. Some of our workforce is represented by labor unions and our business could be harmed in the event of a prolonged work stoppage. Approximately 720 of our employees are covered under collective bargaining agreements that expire between 2028 and 2029, which represents approximately 51% of our employee base as of December 31, 2025. From time to time, we engage in negotiations to renew collective bargaining agreements as those contracts are scheduled to expire. We cannot predict how stable our union relationships will be or whether we will be able to successfully negotiate successor agreements without impacting our financial condition. In addition, the presence of unions may limit our flexibility in dealing with our workforce. We may experience work stoppages, which could negatively impact our ability to manufacture our products on a timely basis and, ultimately, our business, financial condition and results of operations. We depend on the recruitment and retention of qualified personnel, and our failure to attract and retain such personnel couldadversely affect our business, financial condition and results of operations. Due to the complex nature of our manufacturing business, our future performance is highly dependent upon the continued services of ourkey engineering personnel, scientists and our senior management team, the development of additional management personnel and thehiring of new qualified engineering, manufacturing, marketing, sales and management personnel for our operations. Competition forqualified personnel in our industry is intense, and we may not be successful in attracting or retaining qualified personnel. The loss of keyemployees, our inability to attract new, qualified employees or adequately train employees, or any delay in hiring key personnel, couldnegatively affect our business, financial condition and results of operations. 17
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Cybersecurity threats and incidents continue to increase in frequency and sophistication. A successful cybersecurity attack coulddisrupt our business operations, result in the loss of critical and confidential information belonging to us, our customers and otherbusiness partners, and adversely impact our reputation, financial condition and results of operations. Global cybersecurity threats and incidents can range from uncoordinated individual attempts to gain unauthorized access to information technology (“IT”) systems to sophisticated and targeted measures known as advanced persistent threats, directed at AdvanSix, its plants and operations, its products, its customers and/or its third-party service providers including cloud providers. The techniques used to obtain unauthorized access to networks, or to sabotage IT systems, change frequently and may become more advanced including through the use of artificial intelligence ("AI"), and are increasingly difficult to detect and prevent, as these attacks are generally not recognized until launched against a target. We may be unable to anticipate these techniques or to implement adequate preventative measures. While we have experienced, and expect to continue to experience, these types of threats, our information technology infrastructure, including cybersecurity controls, is designed to deploy comprehensive measures to deter, prevent, detect, respond to and mitigate these threats including access controls, data encryption, vulnerability assessments, continuous monitoring of our IT networks and systems and maintenance of backup and protective systems. We track cyber performance metrics and conduct training of our employees on protective measures regarding information security, data privacy, cyber-attacks and recognizing phishing attempts. Despite these efforts, cybersecurity incidents, depending on their nature and scope, could potentially result in the misappropriation, destruction, corruption or unavailability of critical data and confidential or proprietary information (our own or that of third parties) and the disruption of our plant operations and business generally or the disruption of the operations and businesses of our vendors or customers. Additionally, we use third-party vendors that may store sensitive data, including confidential information about our employees, and these third parties are subject to their own cybersecurity threats. While our standard vendor terms and conditions include certain safeguards, including requiring the use of appropriate security measures to prevent unauthorized use or disclosure of our data, a breach at these third-party vendors may occur regardless of our efforts to mitigate the possibility of any such breach. The potential consequences of a material cybersecurity incident on our own systems or the systems of those with whom we do business include reputational consequences, safety risk, operational disruptions, physical damage to our assets, claims from and litigation with third parties, fines levied by governmental authorities, diminution in the value of our investment in research, development and engineering, and increased cybersecurity protection and remediation costs, which in turn could, individually or in the aggregate, adversely affect our competitiveness, plant operations, business, financial condition and results of operations. We maintain cyber liability insurance, but this insurance may not be sufficient to cover the losses that may result from a cybersecurity incident. Data privacy, information security and protection of confidential information may require significant resources and present certainrisks. We maintain, have access to and process certain confidential or sensitive data, including proprietary business information, personal data and other information that may be subject to privacy and security laws, regulations and/or customer-imposed controls. Despite our efforts to protect such information and data, we may be vulnerable to material security breaches, theft, misplaced or lost data, or errors by employees or third-party providers that could potentially cause such information and data to be compromised, or lead to improper use of our systems or networks, unauthorized access, use, disclosure, modification or destruction of information, and operational disruptions. In addition, there are different and potentially conflicting data privacy laws in effect in the domestic and foreign jurisdictions in which we operate, including the General and Data Protection Regulations implemented in the European Union, and we must comply with all applicable laws and standards. Noncompliance with these laws can result in reputational damage, fines and penalties, and enforcement proceedings and litigation, any of which may adversely affect our business, reputation, financial condition and results of operations. We are subject to risks associated with the potential use of AI in our operations and by third-party providers that we may engage with. Recent technological advances in AI come with significant risks related to its use across many industries and end markets, as well as an evolving regulatory landscape. We may be exposed to such risks in cases where we utilize AI in connection with certain business activities now or in the future, in cases where Company personnel use AI for our business or at Company locations, or in cases where our third-party partners use AI in their business activities, which we may not be in a position to control. The use of AI by us, our employees or any of our third-party providers may result in unauthorized disclosure of personal data, proprietary information and trade secrets, commercially sensitive or confidential information of the Company, our employees or our partners. Such unauthorized disclosures or uses of information can result, among other things, in reputational harm, loss of confidence by our customers or employees, penalties, litigation costs, or legal liability. Our industry is increasingly adopting AI technologies to optimize efficiency, enhance the customer experience, manage and mitigate risk, and support decision-making. Competitors that deploy AI more quickly or at greater scale may be able to operate more efficiently, more effectively support customer needs, proactively mitigate risk, or offer new products and services. If we do not adequately manage the risks described above relating to AI, we could experience reputational harm, ethical challenges, legal liability, regulatory findings or enforcement, losses, fines, and other adverse impacts on our business, operations and financial results. Also, if we do not have sufficient rights to use the data or other material or content on which the AI tools we use rely, or to use 18
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the outputs of such AI tools, we may incur liability through the violation of applicable privacy laws and regulations, or claims of infringement or breach of contract by third parties. We may be required to make significant cash contributions to our defined benefit pension plan. We sponsor a defined benefit pension plan under which certain eligible AdvanSix employees who were employed by Honeywell prior to the spin-off earn pension benefits as if they remained employed by Honeywell. Significant changes in actual investment return on pension assets, discount rates, retirement rates and other factors could require unplanned cash pension contributions in future periods. Changes in discount rates and actual asset returns different from our anticipated asset returns can result in significant non-cash actuarial gains or losses. With regard to cash pension contributions, funding requirements for our pension plans are largely dependent upon interest rates, actual investment returns on pension assets and the impact of legislative or regulatory changes related to pension funding obligations. Our pension contributions may be material and could adversely impact our financial condition, cash flow and results of operations. We made no pension contributions during 2025, but may make pension contributions in future periods to satisfy funding requirements. We may be required to record significant charges from impairment to goodwill, intangibles, and other long-lived assets. We are required under U.S. Generally Accepted Accounting Principles (“GAAP”) to test our goodwill for impairment annually or more frequently if indicators for potential impairment exist. Indicators that are considered include significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, or a significant decline in the Company’s stock price and/or market capitalization for a sustained period of time. In addition, we periodically review our intangible and other long-lived assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Factors that may be considered a change in circumstances indicating that the carrying value of our intangible and other long- lived assets may not be recoverable include slower growth rates, the loss of a significant customer, burdensome new laws, or divestiture of a business or asset for less than its carrying value. There are inherent uncertainties in management’s estimates, judgments, and assumptions used in assessing recoverability of goodwill, intangibles, and other long-lived assets. Any material changes in key assumptions, including failure to meet business plans, a deterioration in the U.S. and global financial markets, an increase in interest rates, an increase in inflation, or other unanticipated events and circumstances, may decrease the projected cash flows or increase the discount rates and could potentially result in an impairment charge. We may be required to record a significant charge to earnings in our consolidated financial statements during the period in which any impairment of our goodwill or intangible and other long-lived assets is determined, which could have a material adverse effect on our business, financial condition and results of operations. Exposure to risks and events beyond our control could adversely impact our business, financial condition and results of operations. We are exposed to risks from various events that are beyond our control, which may have significant effects on our results of operations. While we attempt to mitigate these risks through appropriate loss prevention measures, we may not be able to anticipate all risks, or to mitigate or reasonably and cost-effectively manage those risks that we do anticipate. We maintain property, cyber liability, business interruption and casualty insurance but such insurance may not cover all risks, loss, damages or expenses associated with our business and is subject to limitations, including deductibles and limits on the liabilities covered. Consequently, our operations could be adversely affected by circumstances or events in ways that are significant and/or long lasting. The risks and uncertainties identified herein are not the only risks and uncertainties that we face. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial also may adversely affect us. If any known or unknown risks and uncertainties develop into actual events, these developments could have a material adverse effect on our business, financial condition and results of operations. Risks Relating to Our Indebtedness We are subject to certain risks associated with our indebtedness. We are a borrower of funds under a credit facility. Our ability to make payments on and to refinance our indebtedness, including the debtincurred, as well as any future debt that we may incur, will depend on our ability to generate cash in the future from operations orfinancings. Our ability to generate cash is subject to general economic, financial, competitive, legislative, regulatory and other factors thatare beyond our control. In addition, the terms of our indebtedness include a number of restrictive covenants that impose significantoperating and financial restrictions on us and limit our ability to engage in actions that may be in our long-term best interests. Theserestrictive covenants may restrict our ability to take some or all of the following actions: • Incur or guarantee additional indebtedness or sell disqualified or preferred stock; • Pay dividends on, make distributions in respect of, repurchase or redeem capital stock; • Make investments or acquisitions; • Sell, transfer or otherwise dispose of certain assets; • Create liens; • Enter into sale/leaseback transactions; • Enter into agreements restricting the ability to pay dividends or make other intercompany transfers; 19
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• Consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; • Enter into transactions with affiliates; • Prepay, repurchase or redeem certain kinds of indebtedness; • Issue or sell stock of our subsidiaries; and/or • Significantly change the nature of our business. These restrictions may impact our current and future operations, how we conduct our business and pursue our strategy, as well as our ability to incur debt that we may need to fund initiatives associated with our strategy, ongoing operations, competitive industry dynamics and new business opportunities. A breach of any of these covenants, if applicable, could result in an event of default under the terms of this indebtedness. If an event of default occurs, the lenders would have the right to accelerate the repayment of such debt and the event of default or acceleration may result in the acceleration of the repayment of any other debt to which a cross-default or cross-acceleration provision applies. Substantially all domestic tangible and intangible assets of the Company are pledged as collateral to secure the obligation under our credit facility and, in the event we were unable to repay any amount of this indebtedness when due and payable, the lenders could proceed against the pledged collateral. In the event our creditors accelerate the repayment of our borrowings, we may not have sufficient assets to repay such indebtedness, which could adversely affect our business, financial condition and results of operations. Risks Relating to Legal and Regulatory Matters Extensive environmental, health and safety laws and regulations applicable to our operations, including initiatives related todischarges into the air and water, hazardous waste, sustainability, global warming and climate change, may result in substantial costsand unanticipated loss or liability, which could adversely affect our business, financial condition and results of operations. Various federal, state, local and foreign governments regulate the discharge of materials into the environment and can impose substantialfines and criminal sanctions for violations and require installation of costly equipment or operational changes to limit emissions and/ordecrease the likelihood of accidental hazardous substance releases. If we are found to be in violation of these laws or regulations, we mayincur substantial costs, including fines, damages, criminal or civil sanctions and remediation costs, or experience interruptions in ouroperations. See “Item 1. Business - Regulation and Environmental Matters” for more information on the environmental laws andregulations to which we are subject. Primarily because of past operations at our current manufacturing locations and other locations used in our operations as currentlyconducted, we may be subject to potentially material liabilities related to the remediation of environmental hazards and to claims ofpersonal injuries or property damages that may have been or may be caused by hazardous substance releases and exposures or otherhazardous conditions. Lawsuits, claims and costs involving these matters may arise in the future. In addition, changes in laws, regulationsand enforcement of policies, the discovery of previously unknown contamination or other information related to individual sites, theestablishment of stricter state or federal toxicity standards with respect to certain contaminants or the imposition of new clean-uprequirements or remedial techniques could require us to incur additional costs in the future that would have a negative effect on ourbusiness, financial condition and results of operations. Additionally, there are substantial uncertainties as to the nature, stringency and timing of any future regulations or changes in regulations,including discharges into the air and water, handling and disposal of hazardous wastes, remediation of soil and groundwater, andgreenhouse gas (“GHG”) and water nutrient regulations. Due to concerns about risks associated with air, water, global warming andclimate change, more stringent regulations may be imposed which could require us to incur additional capital expenditures or makechanges to our operating activities that would increase our operating costs, reduce our efficiency, limit our output, increase our costs for orlimit the availability of energy, raw materials or transportation or otherwise adversely affect our business, financial condition and results ofoperations. If enacted, more stringent GHG limitations are likely to have a significant impact on us because our production facilities emitGHGs such as carbon dioxide and nitrous oxide and because natural gas, a fossil fuel, is a primary raw material used in our productionprocess. To the extent that GHG or other restrictions are not imposed in countries where our competitors operate or are less stringent thanregulations that may be imposed in the United States, our competitors may have cost or other competitive advantages over us. In addition,increasing regulation of fuel emissions could substantially increase the distribution and supply chain costs associated with our products.Consequently, legislative and regulatory programs to reduce emissions of GHG could have an adverse effect on our business, financialcondition and results of operations. Further, there has been public discussion that climate change may be associated with more extreme weather conditions, such as increased frequency and severity of storms, droughts, and floods. Extreme weather conditions have interfered, and in the future may interfere, with our operating activities, disrupt our maritime logistics and intra-plant supply chain, increase our costs of operations or reduce the efficiency of our operations, and potentially increase costs for insurance coverage in the aftermath of such conditions. Long-term, higher average global temperatures could result in changes in natural resources, growing seasons, precipitation patterns, weather patterns, species distributions, water availability, sea levels, and biodiversity. These impacts could cause changes in supplies of raw materials used to maintain our production capacity and could lead to possible increased sourcing costs in the future. Climate-related events, such as extremeweather events, impacting areas where we or our suppliers operate manufacturing facilities may cause suspensions of operations, which could be prolonged, while damage is remedied or renovations are completed, and which could materially impact our operations and financial results. We continually assess our manufacturing plants for risks and opportunities to increase our preparedness for climate change. We are continuing to evaluate sea level rise and storm surge at our plants to understand potential impacts and response actions that may need to be taken. Significant physical effects of climate change could also have an 20
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indirect effect on our financing and operations by disrupting the supply of raw materials to us and transportation or process-related services provided by companies or suppliers with whom we have a business relationship. There is also a risk that one or more of our key raw materials or one or more of our products may be found to have, or be characterized as having, a toxicological or health-related impact on the environment or on our customers or employees, which could potentially result in our incurring unexpected liability in connection with such characterization and the associated effects of any toxicological or health-related impact. If such a discovery or characterization occurs, we may incur increased costs to comply with new regulatory requirements or to modify the format or use of such substances to reduce or eliminate the impact, or the relevant materials or products, including products ofour customers that incorporate our materials or products, may be recalled or banned. Changes in laws and regulations, or their interpretations, and our customers’ perception of such changes or interpretations may also affect the markets or marketability of certain of our products. Additionally, sales of certain of our products such as acetone or amines, may implicate List II or other considerations under the Drug Enforcement Act. Such classifications subject us to compliance audits by the relevant federal and state agencies and place ongoing restrictions on our sales activities. Public focus on climate change, sustainability, and environmental issues has also led to government regulation and may cause certain ofour key stakeholders to require that we meet certain standards, including customers or suppliers who may impose environmental standardson us as a part of doing business with them, all of which could increase the costs incurred by our customers to use our products andotherwise limit the use of these products, which could lead to decreased demand for these products. We may also incur additional expenseas a result of domestic and international regulations requiring disclosures regarding GHG emissions and/or broader environmental, socialand governance matters, related performance indicators and other factors. We have expanded our reporting and investments associatedwith environmental, social and governance matters and have announced goals regarding our sustainability and corporate social responsibility performance. Our statements and goals for such matters represent our current plans but are not guarantees that we will be able to achieve such goals which may be adversely impacted by available technology, evolving regulatory requirements, availability ofsuppliers, and capital requirements. Our operations are dependent on numerous required permits and approvals. We hold numerous environmental and other governmental permits and approvals authorizing operations at each of our facilities. In addition, any expansion or major modification of our operations is dependent upon securing the necessary environmental or other permits or approvals. A decision by a government agency to deny or delay issuing a new or renewed material permit or approval, or to revoke or substantially modify an existing material permit or approval, could have an adverse effect on our ability to continue operations at the affected facility, or facilities, and on our business, financial condition and results of operations. We are subject to risks related to adverse trade policies inherent in international sales and associated regulations in certain importantmarkets for our products. We have exposure to risks inherent in international sales, including difficulties and costs associated with complying with a wide variety of complex laws, treaties and regulations including customs and international trade laws; unexpected changes in political or regulatory environments; earnings and cash flows that may be subject to tax withholding requirements or the imposition of tariffs, exchange controls or other restrictions; political and economic instability; import and export restrictions, tariffs, and other trade barriers or retaliatory actions; fluctuations in foreign currency exchange rates; government takeover or nationalization of business; and government mandated price controls. These considerations limit the countries in which we can do business, the persons or entities with whom we can do business, the products which we can buy or sell, and the terms under which we can do business. As a U.S.-based producer, we are impacted by anti- dumping investigations which have had, and may continue to impose, significant anti-dumping duties on our products. Such duties place us at a significant competitive disadvantage in the applicable markets. In each case, we diligently evaluate our commercial and legal options to defend these investigations and their subsequent sunset reviews and take steps we feel are prudent to protect our interests, including defending our anti-dumping petitions covering imports of acetone and ammonium sulfate with the International Trade Commission (see "Anti-Dumping Duty Petitions - Acetone" under "Recent Developments" in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”). Historically, we have sought to plan for these risks through geographical mix management so that the imposition of duties does not materially affect our business results, but such duties could have an adverse effect on the sales of our key product lines and affect our business performance in the future. There can be no assurance that, in the future, any governmental or international trade body will not institute trade policies or remedies that are adverse to exports from the United States, and we have faced and may continue to face uncertainty with regard to U.S. government trade policy. In 2025, the U.S. imposed tariffs on certain U.S. imports, and China and other countries responded with retaliatory tariffs on certain U.S. exports. Any further changes in international trade policies, practices or trade remedies, especially those instituted in our target markets or markets where our major customers are located, such as the United States-Mexico-Canada Agreement which became effective in July 2020, could potentially increase the price of our products relative to our competitors or decrease our customers’ demand for our products, which in turn may adversely affect our business, financial condition and results of operations. The ultimate impact of changing trade policies on our business will depend on various factors, including the magnitude, duration and nature of tariffs. While we actively monitor these developments, we may not be able to fully mitigate the adverse impact of potential tariff initiatives or other trade- related disruptions. 21
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Failure to maintain effective internal controls could adversely impact our ability to meet our reporting requirements. We are required, under the Sarbanes-Oxley Act of 2002, to maintain effective internal control over financial reporting and disclosure controls and procedures. This includes performing system and process evaluations and testing of our internal control over financial reporting to allow management and our independent registered public accounting firm to report on the effectiveness of our internal control over financial reporting, as required by the Sarbanes-Oxley Act, with auditor attestation of the effectiveness of our internal controls. If we are not able to comply with these requirements, or if we or our independent registered public accounting firm identify deficiencies in our internal control over financial reporting that are deemed to be material weaknesses, the market price of our common shares could decline and we could be subject to penalties or investigations by the NYSE, the SEC or other regulatory authorities, which would require additional financial and management resources. Effective internal controls are necessary for us to provide reasonable assurance with respect to our financial reports and to effectively prevent fraud. Internal controls over financial reporting may not prevent or detect misstatements because of inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud. Therefore, even effective internal controls can provide only reasonable assurance with respect to the preparation and fair presentation of financial statements. If we fail to maintain the effectiveness of our internal controls, including any failure to implement required new or improved controls, or if we experience difficulties in their implementation, our business and operating results could be harmed, we could fail to meet our reporting obligations, and there could be a material adverse effect on our stock price. The ongoing process of implementing internal controls requires significant attention from management and we cannot be certain that these measures will ensure that we implement and maintain adequate controls over our financial processes and reporting in the future. Difficulties encountered in their implementation could harm our results of operations or cause us to fail to meet our reporting obligations. If we fail to obtain the quality of services necessary to operate effectively or incur greater costs in obtaining these services, our profitability, financial condition and results of operations may be materially and adversely affected. Our spin-off could result in significant tax liability. In connection with our spin-off, if the October 1, 2016 distribution by Honeywell of all of the then outstanding shares of AdvanSix common stock were determined not to qualify for non-recognition of gain and loss under Section 355(e) of the Code, our U.S. stockholders could be subject to tax. In this case, each U.S. stockholder who received our common stock in the distribution would generally be treated as having received a distribution in an amount equal to the fair market value of our common stock received, which would generally result in (1) a taxable dividend to the U.S. stockholder to the extent of that U.S. stockholder’s pro rata share of Honeywell’s current and accumulated earnings and profits; (2) a reduction in the U.S. stockholder’s basis (but not below zero) in its Honeywell common stock to the extent the amount received exceeds the stockholder’s share of Honeywell’s earnings and profits; and (3) a taxable gain from the exchange of Honeywell common stock to the extent the amount received exceeds the sum of the U.S. stockholder’s share of Honeywell’s earnings and profits and the U.S. stockholder’s basis in its Honeywell common stock. A discussion of the material U.S. federal income tax consequences of the spin-off can be found in our Form 10. If, due to any of our representations being untrue or our covenants being breached, it were determined that the distribution did not qualify for non-recognition of gain and loss under Section 355 of the Code, we could be required to indemnify Honeywell for the resulting taxes and related expenses. Any such indemnification obligation could adversely affect our business, financial condition and results of operations. Risks Relating to Our Common Stock and the Securities Market Our stock price may fluctuate significantly and investments in our stock could lose value. The market price of our common stock may fluctuate widely, depending on many factors, some of which may be beyond our control, including: • Actual or anticipated fluctuations in our results of operations due to factors related to our business; • Success or failure of our business strategies; • Competition and industry capacity; • Changes in interest rates and other factors that affect earnings and cash flow; • Our level of indebtedness, our ability to make payments on or service our indebtedness and our ability to obtain financing or refinance our existing credit facility, as needed; • Our ability to pay dividends or repurchase our common stock; • Our ability to retain and recruit qualified personnel; • Our quarterly or annual earnings, or those of other companies in our industry; 22
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• Announcements by us or our competitors of significant acquisitions or dispositions; • Changes in accounting standards, policies, guidance, interpretations or principles; • Changes in earnings estimates by securities analysts or our ability to meet those estimates; • The operating and stock price performance of other comparable companies; • Investor perception of our company and our industry; • Overall market fluctuations and volatility unrelated to our operating performance; • Results from any material litigation or government investigation; • Changes in laws and regulations (including tax laws and regulations) affecting our business; • Changes in capital gains taxes and taxes on dividends affecting stockholders; and • General economic conditions and other external factors. General or industry-specific market conditions, stock market performance or macroeconomic and geopolitical factors unrelated to our performance may also affect our stock price. For these reasons, investors should not rely on recent or historical trends to predict future stock prices, financial condition, results of operations or cash flows. In recent years, stockholder activism, including threatened or actual proxy contests, has been directed against numerous public companies. If a stockholder activist was to take, or threaten to take actions, against the Company, this could cause the Company to incur significant costs as well as the distraction of management, which could have an adverse effect on our business and financial results. In addition, actions of activist stockholders may cause significant fluctuations in our stock price based on temporary or speculative market perceptions or other factors that do not necessarily reflect the underlyingfundamentals and prospects of our business. Volatility in our stock price could expose us to litigation, which could result in substantial costs and the diversion of management time and resources. In addition, repurchases pursuant to our share repurchase program could affect our stock price and increase its volatility. The existence of a share repurchase program could also cause our stock price to be higher than it would be in the absence of such a program and could potentially reduce the market liquidity for our stock. There can be no assurance that any share repurchases will enhance stockholder value because the market price of our common stock may decline below the levels at which we repurchased shares of common stock. Although our share repurchase program is intended to enhance long-term stockholder value, short-term stock price fluctuations could reduce the program’s effectiveness. Furthermore, the program does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and may be suspended or discontinued at any time and any suspension or discontinuation could cause the market price of our stock to decline. We cannot guarantee the timing, declaration, amount or payment of any dividends, and the terms of our indebtedness could limit ourability to pay dividends on our common stock. The timing, declaration, amount and payment of dividends to stockholders, if any, will be within the sole discretion of our Board. Amongthe items considered when establishing a dividend policy will be the capital intensive nature of our business and opportunities to retainfuture earnings for use in the operation of our business and to fund future growth. Additionally, the terms of our indebtedness limit ourability to pay cash dividends. There can be no assurance that we will continue to pay a dividend in the future. Stockholder percentage ownership in AdvanSix may be diluted in the future. A stockholder’s percentage ownership in AdvanSix may be diluted in the future because of common stock-based equity awards that wehave granted and expect to grant in the future to our directors, officers and other employees. In addition, we may issue equity to raisecapital to finance our ongoing operations or as all or part of the consideration paid for acquisitions and strategic investments that we maymake in the future. Certain provisions in our Amended and Restated Certificate of Incorporation and Amended and Restated By-laws and Delaware lawmay discourage takeovers. Several provisions of our Amended and Restated Certificate of Incorporation, Amended and Restated By-laws and Delaware law maydiscourage, delay or prevent a merger or acquisition that is opposed by our Board. These include, among others, provisions that do notpermit our stockholders to act by written consent, establish advance notice requirements for stockholder nominations and proposals, limitthe persons who may call special meetings of stockholders, and limit our ability to enter into business combination transactions withcertain stockholders. These and other provisions of our Amended and Restated Certificate of Incorporation, Amended and Restated By-laws and Delaware law may discourage, delay or prevent certain types of transactions involving an actual or a threatened acquisition orchange in control of AdvanSix, including unsolicited takeover attempts, even though the transaction may offer our stockholders theopportunity to sell their shares of our common stock at a price above the prevailing market price. Item 1B. Unresolved Staff Comments None. 23
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Item 1C. Cybersecurity AdvanSix is committed to protecting the data and confidential information of its business, employees, customers and suppliers. As an organization, we face the risk of cybersecurity breaches and incidents from both external threat actors and from insiders which could compromise the security of our information and networks. Any cybersecurity breach or incident could harm our business or disrupt our operations. Cybersecurity risk is closely monitored by our executive leadership with governance and oversight by the Audit Committee of the Board, whose oversight is expressly noted in its chartered responsibilities along with broader enterprise risk management. A cybersecurity team, led by the General Counsel, the Chief Digital and Information Officer (“CDIO”) and the Chief Information Security Officer (“CISO”), is responsible for the management, implementation and operation of the cybersecurity program, alongside qualified internal and external security and IT subject matter experts. Our CDIO leads the Company’s digital transformation and technology team and brings 20 years of experience to the role. He joined AdvanSix as Vice President and CDIO in August 2025, and prior to that time, he held various leadership positions in the energy and manufacturing sector, including GE, Baker Hughes, TechnipFMC and Civitas Resources. He earned a Bachelor’s and Master's degree in Computer Science and Engineering and is a graduate of Texas Tech University. Our CISO leads the Company’s core enterprise services team, including cybersecurity, and brings over 20 years of experience in the areas of technology governance, risk and compliance management, information security and cybersecurity, risk assessments, secure-Software Development Life Cycle (SDLC), security architecting, cloud security design and operations, threat and vulnerability management, Security Information and Event Management (SIEM)/Security Operation Center (SOC), and incident response management. He joined AdvanSix in December 2018 as our Cybersecurity Leader, and prior to that time, he worked as VP and Information Security Officer at MUFG, managing the overall risk management program, design and implementation. Prior to that role, our CISO served as a cybersecurity and privacy manager with PricewaterhouseCoopers, as a technology manager – IT security and infrastructure with Suez Environment North America, and as an IT auditor for Pentair. Our CISO has a Master's Degree in Computer Science from New Jersey Institute of Technology and a Bachelor’s Degree in Mechanical Engineering from University of Madras. In order to stay current with best practices, our CISO regularly completes cybersecurity certification courses and attends industry conferences. Our General Counsel brings over 20 years of experience managing and assessing enterprise risks through both his tenure at the Company since 2016, which has included the assessment of risks arising from cybersecurity threats, and his prior experience as outside counsel to publicly traded companies. We track the effectiveness of our cybersecurity program using key performance and risk metrics through daily surveillance with dashboard updates provided by the CISO to the General Counsel and the CDIO supplemented by regular updates to the senior leadership team, which includes the Chief Executive Officer and the Chief Financial Officer. In addition, the CISO provides cybersecurity updates to the Audit Committee and the full Board. Informational report-outs, with risk metrics and dashboard updates, are provided to the Audit Committee on at least a quarterly basis. At least annually, the full Board is provided an update which includes a review of governance oversight, cybersecurity controls, implemented improvements and mitigations, vulnerability risks, third-party vendors utilized, and status of key initiatives. AdvanSix’s cybersecurity program is based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework and zero-trust principles, and consists of technical, administrative and operational controls working together as an integrated solution. AdvanSix engaged the services of a best-in-class third party cybersecurity firm to conduct an independent comprehensive maturity assessment of our cyber security program across critical areas which align with the NIST Cybersecurity Framework. As a result of the assessment, best practice recommendations were incorporated into the cybersecurity program to improve our cybersecurity posture and program maturity. We regularly monitor the qualitative and quantitative performance of the program and other risk metrics. Key risks are identified, and appropriate mitigations are implemented through a combination of people, process, and technology solutions that are continuously evolving to address a dynamic and increasingly sophisticated threat environment. Based on this framework, we have developed and implemented a comprehensive set of cybersecurity policies and procedures to address the key cybersecurity risks faced by AdvanSix. We continue to assess evolving threats and update our policies and procedures appropriately. Our cybersecurity program is designed to protect information technology networks and assets using the zero-trust principles, latest technologies that leverage artificial intelligence, machine learning and automation. Our security architecture uses a “defense-in-depth approach,” with controls implemented at user, email, endpoint, cloud, access, and network levels. In addition, training our employees is a critical element of our cybersecurity program. Our comprehensive security awareness and training program covers 100% of our employees on protective measures regarding information security, data privacy, cyber-attacks and recognizing phishing attempts. This program includes regular communication, interactive trainings, and simulated phishing assessments and is designed to reinforce risk 24
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awareness and address the latest and most relevant risks. We have implemented robust controls and procedures to ensure trainings are completed in a timely manner and to track our cybersecurity performance metrics. We seek to identify and address cybersecurity threats and risks that can arise from our use of third parties, including those that comprise our information systems, supply chain operations or who have access to certain data. We utilize supplier risk management practices, including enhanced due diligence assessments, that seek to identify cybersecurity risks associated with our use of third-party providers and the scope and nature of their work with us. These risks are assessed and prioritized based on, among other things, supplier assessments, threat intelligence, and industry practices. We consider these risks at the time of supplier onboarding and endeavor to assess changes in risk throughout the lifecycle of our relationship with suppliers. Our environment is monitored continuously for security events by our security operations center, which detects, alerts, and responds to any potential security incidents on 24/7 basis. Escalations of potential incidents or notable risks are escalated by the cybersecurity team and the CISO to the General Counsel and the CDIO. If appropriate, the status of such potential incidents or notable risks will be further escalated to the Chief Executive Officer, the Chief Financial Officer and the Board. As of the date of this Annual Report on Form 10-K, we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company. AdvanSix has developed cybersecurity incident response plans and procedures, including the formation of a designated cybersecurity incident response team with representatives from across the organization. In the event of an actual cybersecurity incident, the cybersecurity incident response plan serves as the guiding framework for the Company including with respect to incident assessment, mitigations and controls, as well as response, recovery, reporting and resolution. We conduct periodic scenario planning sessions and tabletop exercises with the cybersecurity incident response team and other key functional roles in the enterprise to improve our response preparedness in the event of a security incident. AdvanSix has implemented various measures to protect its sites from both physical and cyber-attacks, which take into account applicable data security and other data privacy laws and regulations. Emerging threats and opportunities to further mitigate cybersecurity risk are continuously explored and evaluated. A vulnerability management program continually assesses our environment to identify and remediate system and software vulnerabilities. A data governance policy and data loss prevention program have been implemented to protect our intellectual property and other sensitive data. We also engage independent third parties to perform security assessments on at least an annual basis, which include penetration testing of our external and internal environment. In summary, the Company’s approach to cybersecurity is intended to assess, identify, and manage risks from cybersecurity threats, implement mitigations and controls consistent with the NIST Cybersecurity Framework and zero-trust approach, and support safe, stable and sustainable operations, while protecting our intellectual property, confidential information, privacy data, operations, and infrastructure. Item 2. Properties Our principal executive offices are located in leased space at 300 Kimball Drive, Suite 101, Parsippany, NJ 07054. We also own five manufacturing sites located in Frankford, Pennsylvania, Chesterfield, Virginia, Hopewell, Virginia, Portsmouth, Virginia and Bucks, Alabama. We consider the manufacturing facilities and technology centers and the other properties that we own, or lease, to be in good condition and generally suitable for the purposes for which they are used. Our manufacturing facilities are maintained through ongoing capital investments, regular maintenance and equipment upgrades. We believe our facilities are adequate for our current operations. Item 3. Legal Proceedings From time to time, we are involved in litigation relating to claims arising out of the ordinary course of our business operations. We are not a party to, and, to our knowledge, there are no pending claims or actions against us, the ultimate disposition of which could be expected to have a material adverse effect on our consolidated financial position, results of operations or operating cash flows. The United States Environmental Protection Agency (“EPA”) notified the Company in December 2016 that alleged violations, involving the enhanced leak detection and repair program and emission testing requirements, at the Company’s manufacturing facility in Hopewell, Virginia, in each case that were self-reported by the Company, may potentially subject the Company to stipulated penalties under the 2013 consent decree among the Company, the U.S. and the Commonwealth of Virginia. The Company has discussed this matter with the EPA and negotiations to resolve it are ongoing. Although the outcome of the matter cannot be predicted with certainty, we do not believe that it will have a material adverse effect on our consolidated financial position, results of operations or operating cash flows. 25
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The EPA and the Company entered into an Administrative Compliance Order on Consent in February 2023 and a second Administrative Compliance Order on Consent in February 2024 in connection with alleged violations involving the Company’s risk management program at its manufacturing facility in Hopewell, Virginia. The Company is currently implementing an EPA-approved work plan to improve its risk management program at Hopewell in connection with the orders. The Company and the EPA also entered into an Administrative Compliance Order on Consent in February 2024 connection with alleged violations involving the Company’s stormwater and other discharges. These EPA allegations may potentially subject the Company to penalties. Although the outcome of these matters cannot be predicted with certainty, we do not believe that it will have a material adverse effect on our consolidated financial position, results of operations or operating cash flows. Additionally, the Virginia Department of Environmental Quality ("VA DEQ") initiated discussions with the Company regarding certain alleged violations associated with air emissions and water discharges at the Company’s Hopewell facility. The Company entered into an Order by Consent with the VA DEQ in September 2025 in connection with the alleged water discharge violations of the State Water Control Law at the Company’s facility in Hopewell, Virginia, which provided for a civil charge of $55,841. The facility is continuing to assess and discuss the allegations associated with air emissions with the VA DEQ. Although the outcome of the matter cannot be predicted with certainty, we do not believe that it will have a material adverse effect on our consolidated financial position, results of operations or operating cash flows. Item 4. Mine Safety Disclosures Not applicable. 26
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PART II. Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is traded on the New York Stock Exchange under the symbol “ASIX.” On January 30, 2026, there were 14,309 holders of record of our common stock and the closing price of our common stock on the New York Stock Exchange was $15.84 per share. As of January 30, 2026, 26,872,912 shares of our common stock and 0 shares of our preferred stock were outstanding. On May 4, 2018, the Company announced that the Board authorized a share repurchase program of up to $75 million of the Company’s common stock. On February 22, 2019, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the May 2018 share repurchase program. On February 17, 2023, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the previously approved share repurchase program. Repurchases may be made from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act. The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The below table sets forth the repurchases of Company common stock, by month, for the quarter ended December 31, 2025. During the quarter ended December 31, 2025, no additional shares were repurchased for tax withholding obligations or under the currently authorized repurchase program. Period Total Number of SharesPurchased Average Price Paid perShare Total Number of SharesPurchased as Part ofPublicly Announced Plan Approximate Dollar Valueof Shares that May Yet BePurchased Under the Plan October 2025 — $ — — $ 61,957,898 November 2025 — — — 61,957,898 December 2025 — — — $ 61,957,898 Total — $ — — As of December 31, 2025, the Company had repurchased a total of 6,313,789 shares of common stock, including 1,068,333 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards, for an aggregate of $194.1 million at a weighted-average market price of $30.74 per share. During the period January 1, 2026 through January 30, 2026, no additional shares were repurchased for tax withholding obligations or under the currently authorized repurchase program. Dividends The Company commenced the declaration of dividends on September 28, 2021 and has declared and paid dividends on a quarterly basis. The Company increased its quarterly dividend by 10% ($0.145 to $0.160) during the third quarter of 2023. Dividends paid during 2025 and the dividend announced on the date of this filing are as follows: Date of Announcement Date of Record Date Payable Dividend perShare Total ApproximateDividend Amount($M) 2/20/2026 3/9/2026 3/23/2026 $0.16 $4.3 11/7/2025 11/18/2025 12/2/2025 $0.16 $4.3 8/1/2025 8/12/2025 8/26/2025 $0.16 $4.3 5/2/2025 5/13/2025 5/27/2025 $0.16 $4.3 2/21/2025 3/10/2025 3/24/2025 $0.16 $4.3 27
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The timing, declaration, amount and payment of future dividends to stockholders, if any, will be within the discretion of our Board. Holders of shares of our common stock will be entitled to receive dividends when, and if, declared by our Board at its discretion out of funds legally available for that purpose, subject to the terms of our indebtedness, the preferential rights of any preferred stock that may be outstanding, legal requirements, regulatory constraints, industry practice and other factors that our Board deems relevant. The Company paid dividends of approximately $17.2 million, $17.1 million and $16.7 million for the years ended December 31, 2025, 2024 and 2023, respectively. Performance Graph The following graph compares the cumulative total stockholder return on the Company’s common stock to the total returns on the Standard & Poor’s ("S&P") Small Cap 600 Stock Index and the S&P Small Cap 600 Materials Index. The changes for the periods shown in the graph assume that $100 had been invested in AdvanSix stock and each index on December 31, 2020, and that all dividends, if any, were reinvested. The share price performance in the graph is not necessarily indicative of future price performance. COMPARISON OF CUMULATIVE TOTAL RETURN December 31,2020 December 31,2021 December 31,2022 December 31,2023 December 31,2024 December 31,2025 AdvanSix Inc. 100 237 193 155 151 95 S&P Small Cap 600 100 127 106 123 134 142 S&P Small Cap 600 Materials 100 118 111 133 135 154 Item 6. [Reserved] Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Dollars in thousands, except per share data or unless otherwise noted) The following section, referred to as the "MD&A" presents management's discussion and analysis of the Company's financial condition and results of operations and should be read in conjunction with the Consolidated Financial Statements and the notes thereto contained in this Form 10-K. This section of this Form 10-K generally discusses our financial condition and results of operations as of and for the years ended December 31, 2025 and 2024 and year-to-year comparisons between 2025 and 2024. Discussions of our financial condition and results of operations as of and for the year ended December 31, 2023 and year-to-year comparisons between 28
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2024 and 2023 that are not included in this Form 10-K can be found under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 21, 2025. Business Overview AdvanSix Inc. is an integrated chemistry company that produces essential materials for our customers across diverse end markets. Our value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets. AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, plant nutrients and chemical intermediates, guided by our core values of Safety, Integrity, Accountability and Respect. Our four key product lines are Nylon, Caprolactam, Ammonium Sulfate and Chemical Intermediates. Global demand for Nylon 6 resin spans a variety of end-uses such as textiles, engineered plastics, industrial filament, food and industrial films, and carpet. The market growth typically tracks global GDP growth over the long-term but varies by end-use. We produce and sell caprolactam as a commodity product and produce and sell our Nylon 6 resin as both a commoditized and differentiated resin product. Our results of operations are primarily driven by production volume and the spread between the sales prices of our products and the costs of the underlying raw materials built into market-based and value-based pricing models. The global prices for nylon resin typically track a spread over the price of caprolactam, which in turn tracks as a spread over benzene because the key feedstock materials for caprolactam, phenol or cyclohexane, are derived from benzene. This price spread has historically experienced cyclicality as a result of global changes in supply and demand. Generally, Nylon 6 resin prices track the cyclicality of caprolactam prices, although prices set above the spread are achievable when nylon resin manufacturers, like AdvanSix, formulate and produce differentiated nylon resin products for current and new customer applications, such as our wire and cable and co-polymer offerings. Global prices for ammonium sulfate fertilizer are influenced by several factors including the price of urea, which is the most widely used source of nitrogen-based fertilizer in the world. Other global factors driving ammonium sulfate fertilizer demand are general agriculture trends, including planted acres and the price of crops. Our ammonium sulfate product is positioned with the added value proposition of sulfur nutrition to increase yields of key crops. In addition, due to its nutrient density, the typical ammonium sulfate product delivers pound for pound the most readily available sulfur and nitrogen to crops as compared to other fertilizers. We also directly supply packaged ammonium sulfate to customers, primarily in North and South America, and have diversified and optimized our offerings to include spray- grade adjuvants to support crop protection, as well as other specialty fertilizers and products for industrial use. Our ammonium sulfate fertilizer experiences quarterly sales seasonality reflecting both geographical and product sales mix considerations based on the timing and length of the growing seasons in North and South America. The North American fertilizer season typically runs from July, when the value chain begins restocking fertilizer, through June of the following year, when most application for the year’s planting is completed. The new season fill begins in the third quarter and proceeds sequentially into the following spring, which is the peak period for crop fertilizer application. As a result of this pattern, North American ammonium sulfate demand and pricing, particularly for our higher-value granular product, are typically strongest in the first half of the year through application for the spring crop and then decline in the second half of the year. Ammonium sulfate industry prices in the corn belt have declined approximately 12% from the second quarter to the third quarter, on average, since 2016. Due to the ammonium sulfate fertilizer sales cycle, we occasionally build up higher inventory balances because our production is continuous throughout the year and not tied to seasonal demand for fertilizers. Sales of most of our other products have generally been subject to minimal, or no, seasonality. We also manufacture, market and sell a number of chemical intermediate products that are derived from the manufacturing processes within our integrated supply chain. Most significant is acetone, the price of which is influenced by its own supply and demand dynamics but can also be influenced by the underlying move in propylene input costs. Our differentiated product offerings include high-purity applications and high-value intermediates including our U.S. Amines portfolio as well as our oximes-based EZ-Blox™ anti-skinning agent used in paints and Nadone® cyclohexanone, which is a solvent used in various high-value applications. We seek to run our production facilities on a nearly continuous basis for maximum efficiency as several of our intermediate products are key feedstock materials for other products in our integrated manufacturing chain. While our integration, scale and range of product offerings make us one of the most efficient manufacturers in our industry, these attributes also expose us to increased risk associated with material disruptions at any one of our production facilities or logistics operations which could impact the overall manufacturing supply chain. Further, although we believe that our sources of supply for our raw materials, including cumene, natural gas and sulfur, are generally robust, it is difficult to predict the impact that shortages, increased costs and related supply chain logistics considerations may have in the future. In order to mitigate the risk of unplanned interruptions, we schedule several planned plant turnarounds each year to conduct routine and major maintenance across our facilities. We also utilize maintenance excellence and mechanical integrity 29
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programs, targeted buffer inventory of intermediate chemicals necessary for our manufacturing process, and co-producer swap arrangements, which are intended to mitigate the extent of any production losses as a result of planned and unplanned downtime; however, the mitigation of all or part of any such production impact cannot be assured. For a description of our principal risks, see “Risk Factors" in Item 1A. Recent Developments Frankford, PA Collective Bargaining Agreement On November 12, 2025, the Company’s Frankford bargaining unit, represented by the United Steelworkers Local No. 10-667, ratified a new four-year labor agreement. The ratified labor agreement affected approximately 100 workers at the Company’s manufacturing facility in Frankford, Pennsylvania. Amendment to Credit Agreement On October 23, 2025, the Company entered into Amendment No. 2 (the “Amendment”) to the Credit Agreement (as defined below). See “Liquidity and Capital Resources - Credit Agreement” for a discussion regarding the Amendment. Succession of Chief Financial Officer Effective as of July 9, 2025, the Board appointed Christopher Gramm as Interim Chief Financial Officer. Anti-Dumping Duty Petition - Acetone On November 4, 2024, the U.S. Department of Commerce ("Commerce") initiated the first five-year review of the anti-dumping orders on imports of acetone from Belgium, Singapore, South Africa, South Korea, and Spain. On November 1, 2024, the U.S. International Trade Commission ("ITC") issued its notice of initiation of its five-year review of the orders. The anti-dumping orders and applicable duties will continue for another five-year period if Commerce finds that revocation of the orders is likely to lead to continuation or recurrence of dumping and if the ITC finds that revocation is likely to lead to continuation or recurrence of material injury to the U.S. domestic industry. On December 26, 2024, Commerce notified the ITC that it would conduct an expedited review and issue its results no later than March 4, 2025. On February 4, 2025, the ITC voted to conduct a full review and is expected to issue its results in the fourth quarter of 2025. On March 7, 2025, Commerce determined that revocation of the anti-dumping orders would likely lead to continuation of recurrence of dumping. In January 2026, the ITC made affirmative determinations that revocation of the orders would likely lead to continuation or recurrence of material inquiry. As a result of the Commerce and ITC's determinations, the orders will be extended for another five years. Philadelphia Energy Solutions’ Shut Down The Company previously reported a business impact associated with the June 2019 fire that shut down the Philadelphia Energy Solutions (“PES”) refinery in Philadelphia, Pennsylvania. PES was one of multiple suppliers to the Company of cumene, a feedstock material used to produce phenol, acetone and other chemical intermediates. The Company was actively pursuing a business interruption claim over several years, with a final omnibus settlement in January 2025 which resulted in insurance settlement proceeds of approximately $26 million in the first quarter of 2025. The total aggregate insurance proceeds since the original claim submission are approximately $39 million. Consolidated Results of Operations for the Years Ended December 31, 2025, 2024 and 2023 (Dollars in thousands) Sales 2025 2024 2023 Sales $ 1,522,233 $ 1,517,557 $ 1,533,599 % change compared with prior period 0.3 % (1.0)% (21.2)% The change in sales is attributable to the following: 2025 versus 2024 2024 versus 2023 Volume 0.8 % (1.9)% Price (0.5)% 0.9 % 0.3 % (1.0)% 30
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2025 compared with 2024 Sales were essentially flat in 2025 compared to 2024 due to increased volume (approximately 1%) primarily driven by higher granularammonium sulfate sales supported by our SUSTAIN (Sustainable U.S. Sulfate to Accelerate Increased Nutrition) program offset by decreased net pricing (approximately 0.5%) reflecting lower raw material pass through pricing on lower benzene input costs and favorablemarket-based pricing across our Plant Nutrients and Nylon Solutions product lines. Cost of Goods Sold 2025 2024 2023 Cost of goods sold $ 1,357,293 $ 1,364,621 $ 1,368,511 % change compared with prior period (0.5)% (0.3)% (16.1)% Gross margin % 10.8 % 10.1 % 10.8 % 2025 compared with 2024 Cost of goods sold decreased in 2025 by $7.3 million compared to 2024 due primarily to insurance proceeds collected as a result of thePES supplier shutdown (approximately 2%) partially offset by increased raw material costs (approximately 2%) driven by sulfur and natural gas. Gross margin percentage increased by approximately 1% in 2025 compared to 2024 due primarily to (i) insurance proceeds collected as a result of the PES supplier shutdown (approximately 2%) and (ii) increased sales volumes as discussed above (approximately 2%), partially offset by the impact of market-based pricing, net of raw material costs (approximately 2%). Selling, General and Administrative Expenses 2025 2024 2023 Selling, general and administrative expense $ 104,750 $ 94,023 $ 95,538 % of sales 6.9 % 6.2 % 6.2 % 2025 compared with 2024 Selling, general and administrative expenses increased in 2025 compared to 2024 by $10.7 million (approximately 11%), due primarily to legal and professional fees associated with strategic regulatory matters and potential inorganic growth options, including costs associatedwith a transaction that the Company is no longer pursuing, and the planned investment to upgrade our enterprise resource planning systemwhich was completed in 2025. Interest Expense, Net 2025 2024 2023 Interest Expense, net $ 8,481 $ 11,311 $ 7,485 2025 compared with 2024 Interest expense, net, decreased in 2025 compared to 2024 by $2.8 million, or approximately 25%, primarily due to lower interest rates. Other Non-operating (Income) Expense, Net 2025 2024 2023 Other non-operating (income) expense, net $ (2,722) $ 2,027 $ (7,158) 2025 compared with 2024 Other non-operating income, net, increased in 2025 compared to 2024 by $4.7 million due primarily to lower pension and other employee compensation expense and the absence of the prior year reduction of the Company's anticipated receivable related to the gain on the last installment of the termination fee recorded upon the exit from the Oben Holding Group S.A. alliance (approximately $1.2 million). Income Tax Expense 31
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2025 2024 2023 Income tax expense $ 5,145 $ 1,426 $ 14,600 Effective income tax rate 9.5 % 3.1 % 21.1 % The Company's effective income tax rate differs from the U.S. statutory rate of 21% due to state taxes and executive compensation limitations which generally increase the effective income tax rate. Research tax credits, excess tax benefits of equity compensation and the foreign derived intangible income deduction recorded in a period generally decrease the effective income tax rate. Additionally, the Company's effective income tax rate for 2024 and 2025 was less than the U.S. Federal statutory rate of 21% due to Internal Revenue Code (IRC) Section 45Q tax credits of approximately $9.7 million claimed in each of those years for credits generated in tax periods 2018, 2019 and 2020. IRC Section 45Q allows a taxpayer to receive a tax credit for carbon capture and utilization at its facilities. For certain utilization projects, the 45Q tax credit requires approval by the Internal Revenue Service (IRS) of a life-cycle assessment ("LCA") prior to claiming the tax credits. The Company received approval for its 2018 LCA in November 2024, which the Company was able to rely on for 2018 through 2020. Approximately $18 million of the 45Q tax credits claimed for these periods are reflected in Taxes receivable as of December 31, 2025. The Company continues to pursue IRC section 45Q tax credits for the periods after 2020. The Company's effective income tax rate for 2023 approximated the U.S. Federal statutory rate of 21%. Increases to the effective income tax rate due primarily to state taxes and executive compensation limitations, were materially offset by research tax credits, excess tax benefits of equity compensation and the foreign-derived intangible income deduction. On July 4, 2025, the One Big Beautiful Bill Act (the "Act") was enacted into law, which includes numerous tax provisions affecting businesses, including the reinstatement of full expensing of domestic research and experimental expenditures, modification of the limitation on business interest and making permanent full expensing for certain business property. These provisions resulted in an approximately $9 million reduction in cash taxes in our financial results for the period ended December 31, 2025 and are expected to reduce our cash taxes in future periods. The Pillar Two Global Anti-Base Erosion rules issued by the Organization for Economic Co-operation and Development ("OECD"), a global policy forum, introduced a global minimum tax of 15% which would apply to multinational groups with consolidated financial statement revenue in excess of EUR 750 million. Numerous jurisdictions, including jurisdictions where the Company operates, have enacted these rules as of December 31, 2025. The Company has evaluated the impact of these rules and currently believes they will not have a material impact on financial results through 2026 due to certain transitional safe harbors. Additionally, on January 5, 2026, theOECD announced a new package of administrative guidance under Pillar Two which includes new safe harbors for companies headquartered in qualifying jurisdictions such as the United States. These safe harbors are for periods on or after January 1, 2026. Additionally, this guidance would extend the transitional safe harbors by one year. We continue to monitor this guidance as details are made available. As of December 31, 2025 and 2024, there were no unrecognized tax benefits recorded by the Company. Although there are no unrecognized income tax benefits, when applicable, the Company’s policy is to report interest expense and penalties related to unrecognized income tax benefits in the income tax provision. For additional discussion of income taxes and the effective income tax rate, see “Note 4. Income Taxes” in the Notes accompanying the audited Consolidated Financial Statements included in Item 8 of this Form 10-K. Net Income 2025 2024 2023 Net income $ 49,286 $ 44,149 $ 54,623 2025 compared with 2024 As a result of the factors described above, net income was $49.3 million in 2025 as compared to $44.1 million in 2024. Non-GAAP Measures The following tables set forth the non-GAAP financial measures of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share. Adjusted EBITDA is defined as Net income before Interest, Income taxes, Depreciation and amortization, Non-cash stock-based compensation, Non-recurring, unusual or extraordinary expenses, Non-cash amortization from acquisitions and strategic advisory and professional fees that are not reflective of ongoing operations. Adjusted EBITDA Margin is equal to Adjusted EBITDA divided by Sales. The following tables may also present each of these measures as further adjusted. The Company believes these non-GAAP financial measures provide meaningful supplemental information as they are used by the 32
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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 the Company's competitors, as the non-GAAP measures exclude items that management believes do not reflect the Company’s ongoing operations. These non-GAAP results are presented for supplemental informational purposes only and should not be considered a substitute for the financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures should be read only in conjunction with the comparable U.S. GAAP financial measures. The Company's non-GAAP measures may not be comparable to other companies' non- GAAP measures. The following is a reconciliation between the non-GAAP financial measures of Adjusted Net Income, Adjusted EBITDA and Adjusted EBITDA Margin to their most directly comparable U.S. GAAP financial measure: Twelve Months EndedDecember 31, 2025 2024 2023 Net income $ 49,286 $ 44,149 $ 54,623 Non-cash stock-based compensation 6,821 7,854 8,313 Non-recurring, unusual or extraordinary expense* — 1,200 (4,472) Non-cash amortization from acquisitions 2,127 2,126 2,126 Strategic advisory and professional fees** 7,325 — — Income tax benefit relating to reconciling items (3,386) (2,011) (661) Adjusted Net income (non-GAAP) 62,173 53,318 59,929 Interest expense, net 8,481 11,311 7,485 Income tax expense - Adjusted 8,531 3,437 15,261 Depreciation and amortization - Adjusted 77,613 74,050 70,884 Adjusted EBITDA (non-GAAP) $ 156,798 $ 142,116 $ 153,559 Sales $ 1,522,233 $ 1,517,557 $ 1,533,599 Adjusted EBITDA Margin*** (non-GAAP) 10.3% 9.4% 10.0% * 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. ** Legal and professional fees associated with strategic regulatory matters and potential inorganic growth options, including costs associated with a transaction that the Company is no longer pursuing *** Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Sales The following is a reconciliation between the non-GAAP financial measures of Adjusted Earnings Per Share to its most directly comparable U.S. GAAP financial measure: 33
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Twelve Months EndedDecember 31, 2025 2024 2023 Numerator Net income $ 49,286 $ 44,149 $ 54,623 Adjusted Net income (non-GAAP) 62,173 53,318 59,929 Denominator Weighted-average number of common shares outstanding - basic 26,901,046 26,828,338 27,302,254 Dilutive effect of equity awards and other stock-based holdings 426,403 426,875 705,376 Weighted-average number of common shares outstanding - diluted 27,327,449 27,255,213 28,007,630 EPS - Basic $ 1.83 $ 1.65 $ 2.00 EPS - Diluted $ 1.80 $ 1.62 $ 1.95 Adjusted EPS - Basic (non-GAAP) $ 2.31 $ 1.99 $ 2.20 Adjusted EPS - Diluted (non-GAAP) $ 2.28 $ 1.96 $ 2.14 Liquidity and Capital Resources Liquidity We believe that cash balances and operating cash flows, together with available capacity under our credit agreement, will provide adequate funds to support our current short-term operating objectives as well as our longer-term strategic plans, subject to the risks and uncertainties outlined below and in the risk factors previously disclosed in in Item 1A, Risk Factors. Our principal source of liquidity is our cash flow generated from operating activities, which is expected to provide us with the ability to meet the majority of our short-term funding requirements for the next twelve months and beyond. Our cash flows are affected by capital requirements and production volume, which may be materially impacted by unanticipated events such as unplanned downtime, material disruptions at our production facilities, the prices of our raw materials, general economic and industry trends and customer demand. The Company applies a proactive and disciplined approach to working capital management to optimize cash flow and to enable capital allocation options in support of the Company’s strategy. We utilize supply chain financing and trade receivables discount arrangements with third-party financial institutions which optimize terms and conditions related to accounts receivable and accounts payable in order to enhance liquidity and enable us to efficiently manage our working capital needs. Although we continue to optimize supply chain financing and trade receivable programs in the ordinary course, our utilization of these arrangements has not had a material impact on our liquidity. In addition, we monitor the third-party depository institutions that hold our cash and cash equivalents. Our emphasis is primarily on the safety of principal and secondarily on maximizing yield on those funds. We diversify our cash and cash equivalents among counterparties to minimize exposure to any one of these entities. On a recurring basis, our primary future cash needs will be centered on operating activities, working capital, capital expenditures, dividends and liquidity reflecting disciplined capital deployment. Capital expenditures are deployed for various ongoing investments and initiatives to improve reliability, yield and quality, expand production capacity and comply with health, safety and environmental ("HSE") regulations. We believe that our future cash from operations, cash on hand and available capacity under our credit agreement, as well as our access to credit and capital markets, will provide adequate resources to fund our expected operating and financing needs and obligations. Our ability to fund our capital needs, however, will depend on our ongoing ability to generate cash from operations and access to credit and capital markets, both of which are subject to the risk factors previously disclosed in Item 1A, Risk Factors, as well as general economic, financial, competitive, regulatory and other factors that are beyond our control. At December 31, 2025, the Company had approximately $20 million of cash on hand with approximately $284 million of additional capacity available under the revolving credit facility. The Company’s Consolidated Leverage Ratio financial covenant of its credit facility allows it to net up to $75 million of cash with debt. Capital expenditures were approximately $116 million in 2025 compared to $134 million in 2024, reflecting the planned progression of our SUSTAIN growth program, and refined execution timing to address critical enterprise risk mitigation. We assumed from Honeywell International Inc. ("Honeywell") all HSE liabilities and compliance obligations related to the past and future operations of our current business as of the spin-off, as well as all HSE liabilities associated with the three manufacturing locations assumed from Honeywell that are used in our current operations, including any cleanup or other liabilities related to any contamination that may have occurred at such locations in the past. Honeywell retained all HSE liabilities related to former business 34
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locations or the operation of our former businesses. Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to have a material adverse effect on the Company's consolidated financial position and results of operations. We expect that our primary cash requirements for 2026 will be to fund costs associated with ongoing operations, capital expenditures and amounts related to other contractual obligations. See below under “Capital Expenditures” for more information regarding our capital expenditures in 2025, 2024 and 2023 and anticipated capital expenditures for 2026. Amounts related to contractual obligations are related to principal repayments and interest payments on leases, long-term debt, purchase obligations, estimated environmental compliance costs, and postretirement benefit obligations. We anticipate that our estimated environmental compliance costs will be approximately $1.5 million in aggregate for 2026 through 2030. This amount is related to what has been accrued as probable and reasonably estimable as of December 31, 2025. For information regarding material cash requirements from known contractual obligations with respect to lease obligations, long-term debt principal repayments and purchase obligations please refer to "Note 8. Leases", "Note 9. Long-term Debt and Credit Agreement" and "Note 11. Commitments and Contingencies", respectively, to the Consolidated Financial Statements in Item 8 of this Form 10-K. Interest payments are estimated based on the interest rate applicable as of December 31, 2025 and approximate $10.5 million per year, subject to changes in variable interest rates and additional obligations. The Company made no cash contributions to the defined benefit pension plan during the year ended December 31, 2025. The Company expects to make pension plan contributions during 2026 sufficient to satisfy pension funding requirements estimated to be approximately $3 million, as well as evaluate contributions in future years sufficient to satisfy pension funding requirements in those periods. As previously disclosed in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, in connection with the Philadelphia Energy Solutions' shutdown, the Company received insurance settlement proceeds of approximately $26 million in the first quarter of 2025. The Company made cash contributions to the defined contribution plan of $6.7 million and $6.8 million for the years ended December 31, 2025 and 2024, respectively. The Board has authorized share repurchase programs to repurchase shares of the Company's common stock as follows: Date of Authorization Authorized Amount (millions) Authorized AmountRemaining as ofDecember 31, 2025(millions) May 4, 2018 $ 75.0 $ — February 22, 2019 75.0 — February 17, 2023 75.0 62.0 Totals $ 225.0 $ 62.0 Repurchases may be made from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act. The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The par value of the shares repurchased is applied to Treasury stock and the excess of the purchase price over par value is applied to Additional paid-in capital. As of December 31, 2025, the Company had repurchased 6,313,789 shares of common stock, including 1,068,333 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards, for an aggregate of $194.1 million at a weighted average market price of $30.74 per share. As of December 31, 2025, $62.0 million remained available for repurchase under the currently authorized repurchase program. During the period from January 1, 2026 through January 30, 2026, no additional shares were repurchased for tax withholding obligations or under the currently authorized repurchase program. At December 31, 2025, 2024 and 2023, the Company did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K or financing activities with special-purpose entities. The Company has not guaranteed any debt or commitments of other entities or entered into any options on non-financial assets. Dividends The Company commenced the declaration of dividends on September 28, 2021. 35
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The Company increased its quarterly dividend by 10% ($0.145 to $0.160) during the third quarter of 2023. Dividends paid during 2025 and the dividend announced on the date of this filing are as follows: Date of Announcement Date of Record Date Payable Dividend per Share Total ApproximateDividend Amount($M) 2/20/2026 3/9/2026 3/23/2026 $0.16 $4.3 11/7/2025 11/18/2025 12/2/2025 $0.16 $4.3 8/1/2025 8/12/2025 8/26/2025 $0.16 $4.3 5/2/2025 5/13/2025 5/27/2025 $0.16 $4.3 2/21/2025 3/10/2025 3/24/2025 $0.16 $4.3 The timing, declaration, amount and payment of future dividends to stockholders, if any, will be within the discretion of our Board. Holders of shares of our common stock will be entitled to receive dividends when, and if, declared by our Board at its discretion out of funds legally available for that purpose, subject to the terms of our indebtedness, the preferential rights of any preferred stock that may be outstanding, legal requirements, regulatory constraints, industry practice and other factors that our Board deems relevant. The Company paid dividends of approximately $17.2 million, $17.1 million and $16.7 million for the years ended December 31, 2025, 2024 and 2023, respectively. Credit Agreement On October 27, 2021, the Company entered into a Credit Agreement, as amended on June 27, 2023 (the “Credit Agreement”), among the Company, the lenders party thereto, the swing line lenders party thereto, the letter of credit issuers party thereto and Truist Bank, as administrative agent, which provides for a senior secured revolving credit facility in an aggregate principal amount of $500 million (the “Revolving Credit Facility”). Borrowings under the Revolving Credit Facility are subject to customary borrowing conditions. The Revolving Credit Facility provided for a scheduled maturity date of October 27, 2026 (which was extended pursuant to an October 2025 amendment, as described in more detail below). The Credit Agreement permits the Company to utilize up to $40 million of the Revolving Credit Facility for the issuance of letters of credit and up to $40 million for swing line loans. The Company has the option to establish a new class of term loans and/or increase the amount of the Revolving Credit Facility in an aggregate principal amount for all such incremental term loans and increases of the Revolving Credit Facility of up to the sum of (x) $175 million plus (y) an amount such that the Company’s Consolidated First Lien Secured Leverage Ratio (as defined in the Credit Agreement) would not be greater than 2.75 to 1.00, in each case, to the extent that any one or more lenders, whether or not currently party to the Credit Agreement, commits to be a lender for such amount or any portion thereof. Borrowings under the Credit Agreement bear interest at a rate equal to either the sum of a base rate plus a margin ranging from 0.25% to 1.25% or the sum of an Adjusted Term SOFR rate plus a margin ranging from 1.25% to 2.25%, with either such margin varying according to the Company’s Consolidated Leverage Ratio (as defined in the Credit Agreement). The Company is also required to pay a commitment fee in respect of unused commitments under the Revolving Credit Facility, if any, at a rate ranging from 0.15% to 0.35% per annum depending on the Company’s Consolidated Leverage Ratio. Substantially all tangible and intangible assets of the Company and its domestic subsidiaries are pledged as collateral to secure the obligations under the Credit Agreement. The Credit Agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, pay cash dividends, incur debt or liens, redeem or repurchase stock of the Company, enter into transactions with affiliates, make investments, make capital expenditures, merge or consolidate with others or dispose of assets. The Credit Agreement also contains financial covenants that require the Company to maintain a Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) of not less than 3.00 to 1.00 and to maintain a Consolidated Leverage Ratio of 3.75 to 1.00 or less (subject to the Company’s option to elect a consolidated leverage ratio increase in connection with certain acquisitions). If the Company does not comply with the covenants in the Credit Agreement, the lenders may, subject to customary cure rights, require the immediate payment of all amounts outstanding under the Revolving Credit Facility. We were in compliance with all of our covenants at December 31, 2025 and through the date of the filing of this Annual Report on Form 10-K. 36
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On October 23, 2025, the Company entered into Amendment No. 2 (the “Amendment”) to the Credit Agreement (as further amended by the Amendment, the “Amended Credit Agreement”), among the Company, the guarantors, the lenders party thereto and Truist Bank, as administrative agent. Pursuant to the Amendment, the Credit Agreement was amended to, among other things: (i) extend the maturity date of the Revolving Credit Facility for participating Revolving Credit Lenders, as defined in the Amended Credit Agreement, in an aggregate principal amount of $452 million to the earlier of (x) October 27, 2027 and (y) the date of the termination in whole of the Revolving Credit Facility, pursuant to the terms of the Amended Credit Agreement, and (ii) effect certain other conforming changes and modifications consistent with the foregoing. The remaining $48 million under the Revolving Credit Facility that was not extended will continue to mature on the earlier of (x) October 27, 2026 and (y) the date of the termination in whole of the Revolving Credit Facility pursuant to the terms of the Amended Credit Agreement. We had a borrowed balance of $195 million under the Revolving Credit Facility at December 31, 2024. We borrowed an incremental net amount of $20 million during 2025, bringing the balance under the Revolving Credit Facility to $215 million, and available credit for use of $284 million as of December 31, 2025. We expect that Cash provided by operating activities will fund future interest payments on the Company's outstanding indebtedness. The Company had approximately $1 million of letter of credit agreements outstanding under the Revolving Credit Facility at December 31, 2025. There was no amount associated with bilateral letters of credit outside the Revolving Credit Facility. Cash Flow Summary for the Years Ended December 31, 2025, 2024 and 2023 Our cash flows from operating, investing and financing activities for the years ended December 31, 2025, 2024 and 2023, as reflected in the audited Consolidated Financial Statements included in this Form 10-K, are summarized as follows: Years Ended December 31, 2025 2024 2023 (Dollars in thousands) Cash provided by (used for): Operating activities $ 122,863 $ 135,413 $ 117,550 Investing activities (122,614) (142,902) (110,897) Financing activities (47) (2,715) (7,870) Net change in cash and cash equivalents $ 202 $ (10,204) $ (1,217) 2025 compared with 2024 Net cash provided by operating activities decreased by $12.5 million for the year ended December 31, 2025 versus the prior year due primarily to a $11.7 million unfavorable impact from the timing and fluctuation of working capital (comprised of Accounts and otherreceivables, Inventories, Accounts payable and Deferred income and customer advances) year-over-year and a $5.0 million unfavorable cash impact from Other assets and liabilities driven primarily by a change in our pension versus the prior year. These net unfavorable impacts were partially offset by a $5.1 million increase in net income. Cash used for investing activities decreased by $20.3 million for the year ended December 31, 2025 versus the prior year period due primarily to lower cash payments for capital expenditures of approximately $17.3 million during the current year period primarily reflecting disciplined spend on replacement maintenance while maintaining progress on growth and other enterprise programs. Cash used for financing activities decreased by $2.7 million for the year ended December 31, 2025 versus the prior year due to payments for share repurchases of $1.7 million during the year ended December 31, 2025 compared to $10.4 million during the prior year period partially offset by net borrowings of $20.0 million for the year ended December 31, 2025 compared to net borrowings of $25.0 million during the prior year period. Capital Expenditures Our operations are capital intensive, requiring ongoing investments that have consisted, and are expected to continue to consist, primarily of capital expenditures required to maintain and improve equipment reliability, expand production capacity, further improve mix, yield and cost position and comply with environmental and safety regulations and support sustainability initiatives. The following table summarizes ongoing and expansion capital expenditures for the periods indicated. 37
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Years Ended December 31, 2025 2024 2023 (Dollars in thousands) Purchases of property, plant and equipment $ 116,445 $ 133,722 $ 107,377 Capital expenditures decreased $17.3 million from 2024 to 2025 reflecting disciplined spend on capital expenditures and enterprise programs. Capital expenditures are deployed for various ongoing investments and initiatives to improve reliability, yield and quality, expand production capacity and comply with HSE regulations. For 2026, we expect our total capital expenditures to be approximately $75 million to $95 million reflecting a risk-based prioritization of base investments and enterprise programs with continued progression of growth programs including our SUSTAIN program. Critical Accounting Policies and Estimates (Dollars in thousands, unless otherwise noted) The Company’s significant accounting policies are more fully described in "Note 2. Summary of Significant Accounting Policies" to the Consolidated Financial Statements included in Item 8 of this Form 10-K. Management believes that the application of these policies on a consistent basis enables the Company to provide the users of the financial statements with useful and reliable information about the Company’s operating results and financial condition. The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP is based on the selection and application of accounting policies that require management to make significant estimates and assumptions about the effects of matters that are inherently uncertain and that affect the reported amounts, including, but not limited to, inventory valuations, impairment of goodwill, long-term employee benefit obligations, income taxes and environmental matters. Management’s estimates are based on historical experience, facts and circumstances available at the time and various other assumptions that are believed to be reasonable. The Company reviews these matters and reflects changes in estimates as appropriate. Management believes that the following represent some of the more critical judgment areas in the applications of the Company’s accounting policies which could have a material effect on the Company’s financial position, results of operations or cash flows. Inventories – Substantially all of the Company's inventories are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method. The Company includes spare and other parts in inventory which are used in support of production or production facilities operations and are valued based on weighted average cost. Inventories valued at LIFO amounted to $225.3 million and $196.5 million at December 31, 2025 and 2024, respectively. Had such LIFO inventories been valued at current costs, their carrying values would have been approximately $80.1 million and $64.1 million higher at December 31, 2025 and 2024. Inventories valued at FIFO amounted to $11.2 million and $15.9 million at December 31, 2025 and 2024, respectively. Goodwill – The Company had goodwill of $56.2 million at December 31, 2025 and 2024. Goodwill is subject to impairment testing annually on the last day of our October close, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value is less than the carrying value. The Company’s practice is to perform a quantitative impairment assessment at least every three years. Under the qualitative assessment, the Company considers several factors, including the enterprise value from the previous quantitative test and the excess of fair value over carrying value from such test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations, recent and projected financial performance of the Company, as well as other factors. The Company has concluded that, as of the fourth quarter of 2025, it is not more likely than not that an impairment of the goodwill balances exists. Our qualitative analysis reflects our best estimates of the impacts of the cyclical nature of the industries in which we operate, as well as the cycles of fluctuating supply and demand for each of our products resulting in changes in selling prices and margins. It is possible that in the future there may be changes in industry trends, estimates and assumptions, including the timing and amount of future cash flows, margins, growth rates, market participant assumptions, comparable benchmark companies and related multiples and discount rates, which could impact estimates of fair value. Significant and adverse changes to any one or more of the above-noted estimates and assumptions could result in an impairment. Revenue Recognition – The Company recognizes revenue upon the transfer of control of goods or services to customers at amounts that reflect the consideration expected to be received. AdvanSix primarily recognizes revenues when title and control of the product 38
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transfers from the Company to the customer. Outbound shipping costs incurred by the Company are not included in revenues but are reflected as freight expense in Cost of goods sold in the Consolidated Statements of Operations. Sales of our products to customers are made under a purchase order, and in certain cases in accordance with the terms of a master services agreement. These agreements typically contain formula-based pass-through pricing tied to key feedstock materials and volume ranges, but often do not specify the goods, including the quantities thereof, to be transferred. Certain master services agreements (including with respect to our largest customer) may contain minimum purchase volumes which can be satisfied by the customer on a periodic basis by choosing from various products offered by the Company. In these cases, a performance obligation is created when a customer submits a purchase order for a specific product at a specified price, typically providing for delivery within the next 60 days. Management considers the performance obligation with respect to such purchase order satisfied at the point in time when control of the product is transferred to the customer, which is indicated by shipment of the product and transfer of title and risk of loss to the customer. Transfer of control to the customer occurs through various modes of shipment, including trucks, railcars, and vessels, and generally follows commercially acceptable shipping point terms pursuant to the arrangement with the customer. In more limited circumstances, the Company recognizes revenue from sales of products that are subject to inventory consignment agreements, and transfer of control generally occurs when the customer pulls product from the consignment inventory location. Variable consideration is estimated for future volume rebates and early pay discounts on certain products and product returns. The Company records variable consideration as an adjustment to the sale transaction price. Since variable consideration is generally settled within one year, the time value of money is not significant. The Company applies the practical expedient in Topic 606 and does not include disclosures regarding remaining performance obligations that have original expected durations of one year or less, or amounts for variable consideration allocated to wholly-unsatisfied performance obligations or wholly-unsatisfied distinct goods that form part of a single performance obligation, if any. The Company also utilizes the practical expedient in Topic 606 and does not include an adjustment for the effects of a significant financing component given the expected period duration of one year or less. Pension Benefits – We have a defined benefit plan covering certain employees primarily in the U.S. The benefits are accrued over the employees’ service periods. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of net periodic pension income or expense. Differences between actual and expected results or changes in the value of defined benefit obligations and fair value of plan assets, if any, are not recognized in earnings as they occur but rather systematically over subsequent periods when net actuarial gains or losses are in excess of 10% of the greater of the fair value of plan assets or the plan’s projected benefit obligation. A 25 basis point increase in the discount rate would result in a decrease of approximately $0.5 million to the net periodic benefit cost for 2026, while a 25 basis point decrease in the discount rate would result in an increase of approximately $0.5 million to the net periodic benefit cost for 2026. The resulting impact on the pension benefit obligation would be a decrease of $2.7 million and an increase of $2.8 million, respectively. Income Taxes – We account for income taxes pursuant to the asset and liability method which requires us to recognize current tax liabilities or receivables for the amount of taxes we estimate are payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences attributable to temporary differences between the financial statement carrying amounts and their respective tax bases of assets and liabilities and the expected benefits of net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. We apply the provisions of ASC 740 related to the accounting for uncertainty in income taxes recognized in an enterprise’s consolidated financial statements. ASC 740 prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The benefit of tax positions taken or expected to be taken in our income tax returns are recognized in the financial statements if such positions are more likely than not of being sustained upon examination by taxing authorities. Differences between tax positions taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to the interpretation are referred to as “unrecognized benefits.” A liability is recognized (or amount of net operating loss carryover or amount of tax refundable is reduced) for an unrecognized tax benefit because it represents an enterprise’s potential future obligation to the taxing authority for a tax position that was not recognized as a result of applying the provisions of ASC 740. Interest costs and related penalties related to unrecognized tax benefits are required to be calculated, if applicable. Our policy is to classify tax related interest and penalties, if any, as a component of income tax expense. No interest or penalties related to unrecognized income tax benefits were recorded during the years 39
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ended December 31, 2025, 2024 and 2023. As of December 31, 2025 and 2024, no liability for unrecognized tax benefits was required to be reported. We do not expect any significant changes in our unrecognized tax benefits in the next year. Use of Estimates – The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and related disclosures in the accompanying Notes. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of changes are reflected in the Consolidated Financial Statements in the period they are determined to be necessary. Recent Accounting Pronouncements See “Note 2. Summary of Significant Accounting Policies” to the Consolidated Financial Statements included in Item 8 of this Form 10-K. Item 7A. Quantitative and Qualitative Disclosures About Market Risk Interest Rate Risk Our exposure to risk based on changes in interest rates relates primarily to our Revolving Credit Facility. The Revolving Credit Facility bears interest at floating rates. For variable rate debt, interest rate changes generally do not affect the fair market value of such debt assuming all other factors remain constant, but do impact future earnings and cash flows. Accordingly, we may be exposed to interest rate risk on borrowings under the Revolving Credit Facility. Based on current borrowing levels at December 31, 2025, a 25-basis point fluctuation in interest rates for the year ended December 31, 2025 would have resulted in an increase or decrease to our interest expense of approximately $0.5 million. See “Note 2. Summary of Significant Accounting Policies” to the Consolidated Financial Statements included in Item 8 of this Form 10-K for a discussion relating to credit and market, commodity price and interest rate risk management. 40
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Item 8. Financial Statements and Supplementary Data Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholders of AdvanSix Inc. Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated balance sheets of AdvanSix Inc. and its subsidiaries (the "Company") as of December 31, 2025 and 2024, and the related consolidated statements of operations, of comprehensive income, of stockholders’ equity and of cash flows for each of the three years in the period ended December 31, 2025, including the related notes (collectively referred to as the "consolidated financial statements"). We also have audited the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in ouropinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO. Basis for Opinions The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of theconsolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions. Definition and Limitations of Internal Control over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizationsof management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Critical Audit Matters 41
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The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. Revenue Recognition – Transfer of Control As described in Notes 2 and 3 to the consolidated financial statements, the Company recorded $1,522 million in sales for the year endedDecember 31, 2025, of which a significant portion has transfer of control to the customer through commercially acceptable shipping terms. Sales of the Company’s products to customers are made under a purchase order, and in certain cases in accordance with the terms of a master services agreement. Management considers the performance obligation satisfied at the point in time when control of the product is transferred to the customer, which is indicated by shipment of the product and transfer of title and risk of loss to the customer. Transfer of control to the customer occurs through various modes of shipment, including trucks, railcars, and vessels, and follows a variety of commercially acceptable shipping point terms pursuant to the arrangement with the customer. The principal considerations for our determination that performing procedures relating to revenue recognition – transfer of control is a critical audit matter are a high degree of auditor subjectivity and effort in performing procedures and evaluating audit evidence relating to the determination of the point in time when control of the product was transferred to the customer and thus revenue was recognized. Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the revenue recognition process, including controls over the point in time when control of the product was transferred to the customer. These procedures also included, among others, (i) testing sales transactions based on comparing data points such as invoice amount, invoice date, shipment date,price, and quantity; (ii) for a sample of data points, testing the completeness and accuracy of the data points used by management by obtaining and inspecting source documents, such as master sales agreements, purchase orders, invoices, proof of shipment and subsequent cash receipts; and (iii) for a sample of sales transactions before and subsequent to December 31, 2025, testing when control of the product was transferred to the customer by obtaining and inspecting source documents, such as purchase orders and proof of shipment. /s/ PricewaterhouseCoopers LLP Florham Park, NJ February 20, 2026 We have served as the Company’s auditor since 2015. 42
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ADVANSIX INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except share and per share amounts) Years Ended December 31, 2025 2024 2023 Sales $ 1,522,233 $ 1,517,557 $ 1,533,599 Costs, expenses and other: Cost of goods sold 1,357,293 1,364,621 1,368,511 Selling, general and administrative expenses 104,750 94,023 95,538 Interest expense, net 8,481 11,311 7,485 Other non-operating (income) expense, net (2,722) 2,027 (7,158) Total costs, expenses and other 1,467,802 1,471,982 1,464,376 Income before taxes 54,431 45,575 69,223 Income tax expense 5,145 1,426 14,600 Net income $ 49,286 $ 44,149 $ 54,623 Earnings per common share Basic $ 1.83 $ 1.65 $ 2.00 Diluted $ 1.80 $ 1.62 $ 1.95 Weighted average common shares outstanding Basic 26,901,046 26,828,338 27,302,254 Diluted 27,327,449 27,255,213 28,007,630 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 43
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ADVANSIX INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Dollars in thousands) Years Ended December 31, 2025 2024 2023 Net income $ 49,286 $ 44,149 $ 54,623 Foreign exchange translation adjustment 34 (109) 63 Cash-flow hedges 7 — (150) Pension obligation adjustments 2,985 10,223 140 Other comprehensive income, net of tax 3,026 10,114 53 Comprehensive income $ 52,312 $ 54,263 $ 54,676 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 44
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ADVANSIX INC. CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share and per share amounts) December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 19,766 $ 19,564 Accounts and other receivables – net 154,102 145,673 Inventories – net 236,495 212,386 Taxes receivable 21,605 503 Other current assets 8,639 8,990 Total current assets 440,607 387,116 Property, plant and equipment – net 963,718 917,858 Operating lease right-of-use assets 164,494 153,438 Goodwill 56,192 56,192 Intangible assets 40,095 43,144 Other assets 41,042 37,172 Total assets $ 1,706,148 $ 1,594,920 LIABILITIES Current liabilities: Accounts payable $ 284,016 $ 228,761 Accrued liabilities 45,945 47,264 Operating lease liabilities – short-term 44,354 42,493 Income taxes payable 1,100 1,047 Deferred income and customer advances 14,536 37,538 Total current liabilities 389,951 357,103 Deferred income taxes 154,061 145,299 Operating lease liabilities – long-term 121,201 111,400 Line of credit – long-term 215,000 195,000 Other liabilities 10,719 11,468 Total liabilities 890,932 820,270 COMMITMENTS AND CONTINGENCIES (Note 11) STOCKHOLDERS' EQUITY Common stock, par value $0.01; 200,000,000 shares authorized; 33,177,824 shares issued and26,864,035 outstanding at December 31, 2025; 32,989,165 shares issued and 26,737,036 outstandingat December 31, 2024 332 330 Preferred stock, par value $0.01; 50,000,000 shares authorized; 0 shares issued and outstanding atDecember 31, 2025 and 2024 — — Treasury stock at par (6,313,789 shares at December 31, 2025; 6,252,129 shares at December 31,2024) (63) (63) Additional paid-in capital 142,932 136,872 Retained earnings 663,019 631,541 Accumulated other comprehensive income 8,996 5,970 Total stockholders' equity 815,216 774,650 Total liabilities and stockholders' equity $ 1,706,148 $ 1,594,920 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 45
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ADVANSIX INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in thousands) Years Ended December 31, 2025 2024 2023 Cash flows from operating activities: Net income $ 49,286 $ 44,149 $ 54,623 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 79,740 76,176 73,010 (Gain) loss on disposal of assets (81) 773 1,281 Deferred income taxes 7,821 (8,991) (9,347) Stock-based compensation 6,821 7,854 8,313 Amortization of deferred financing fees 597 618 618 Operational asset adjustments — 1,200 (4,472) Changes in assets and liabilities, net of business acquisitions: Accounts and other receivables (8,395) 18,411 21,489 Inventories (24,109) (555) 3,286 Taxes receivable (21,102) 931 8,337 Accounts payable 52,866 (30,610) (20,756) Income taxes payable 53 (6,986) 8,003 Accrued liabilities (808) 2,426 (5,569) Deferred income and customer advances (23,002) 21,860 (18,752) Other assets and liabilities 3,176 8,157 (2,514) Net cash provided by operating activities 122,863 135,413 117,550 Cash flows from investing activities: Expenditures for property, plant and equipment (116,445) (133,722) (107,377) Other investing activities (6,169) (9,180) (3,520) Net cash used for investing activities (122,614) (142,902) (110,897) Cash flows from financing activities: Borrowings from line of credit 370,500 406,000 437,000 Repayments of line of credit (350,500) (381,000) (382,000) Payment of line of credit facility fees (478) — — Principal payments of finance leases (1,002) (1,011) (938) Dividend payments (17,176) (17,135) (16,657) Purchase of treasury stock (1,658) (10,428) (46,151) Issuance of common stock 267 859 876 Net cash used for financing activities (47) (2,715) (7,870) Net change in cash and cash equivalents 202 (10,204) (1,217) Cash and cash equivalents at beginning of period 19,564 29,768 30,985 Cash and cash equivalents at the end of period $ 19,766 $ 19,564 $ 29,768 Supplemental non-cash investing activities: Capital expenditures included in accounts payable $ 26,670 $ 23,645 $ 22,660 Supplemental cash activities: Cash paid for interest $ 6,760 $ 10,828 $ 7,086 Cash paid for income taxes, net of refund $ 15,129 $ 16,591 $ 7,594 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 46
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ADVANSIX INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Dollars in thousands) Common Stock AdditionalPaid-InCapital RetainedEarnings TreasuryStock Accumulated OtherComprehensiveIncome (Loss) Total EquityShares Amount Balance at December 31, 2022 31,977,593 $ 320 $ 174,585 $ 567,517 $ (45) $ (4,197) $ 738,180 Net Income — — — 54,623 — — 54,623 Comprehensive income Foreign exchange translation adjustments — — — — — 63 63 Cash-flow hedges — — — — — (150) (150) Pension obligation adjustments — — — — — 140 140 Other comprehensive income, net of tax — — — — — 53 53 Issuance of common stock 621,353 6 870 — — — 876 Acquisition of treasury shares (1,317,402shares) — — (46,138) — (13) — (46,151) Stock-based compensation — — 8,313 — — — 8,313 Dividends — — 416 (17,073) — — (16,657) Balance at December 31, 2023 32,598,946 326 138,046 605,067 (58) (4,144) 739,237 Net Income — — — 44,149 — — 44,149 Comprehensive income Foreign exchange translation adjustments — — — — — (109) (109) Cash-flow hedges — — — — — — — Pension obligation adjustments — — — — — 10,223 10,223 Other comprehensive income, net of tax — — — — — 10,114 10,114 Issuance of common stock 390,219 4 855 — — — 859 Acquisition of treasury shares (453,654shares) — — (10,423) — (5) — (10,428) Stock-based compensation — — 7,854 — — — 7,854 Dividends — — 540 (17,675) — — (17,135) Balance at December 31, 2024 32,989,165 330 136,872 631,541 (63) 5,970 774,650 Net Income — — — 49,286 — — 49,286 Comprehensive income Foreign exchange translation adjustments — — — — — 34 34 Cash-flow hedges — — — — — 7 7 Pension obligation adjustments — — — — — 2,985 2,985 Other comprehensive income, net of tax — — — — — 3,026 3,026 Issuance of common stock 188,659 2 265 — — — 267 Acquisition of treasury shares (61,660shares) — — (1,658) — — — (1,658) Stock-based compensation — — 6,821 — — — 6,821 Dividends — — 632 (17,808) — — (17,176) Balance at December 31, 2025 33,177,824 $ 332 $ 142,932 $ 663,019 $ (63) $ 8,996 $ 815,216 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 47
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ADVANSIX INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per share amounts or unless otherwise noted) Note 1. Organization, Operations and Basis of Presentation Description of Business AdvanSix Inc. (“AdvanSix,” the “Company,” “we,” "us" or “our”) is an integrated chemistry company that produces essential materials for diverse end markets. Our value chain of our five U.S.-based manufacturing facilities plays a critical role in global supply chains and enables us to innovate and deliver essential products for our customers across building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, electronics and other end markets. Guided by our core values of Safety, Integrity, Accountability and Respect, AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, plant nutrients and chemical intermediates. We evaluated segment reporting in accordance with Accounting Standards Codification Topic (“ASC”) 280. We concluded that AdvanSix is a single operating segment and a single reportable segment based on the operating results available which are evaluated regularly by the chief operating decision maker (“CODM”) to make decisions about resource allocation and performance assessment on a consolidated basis. Our larger manufacturing sites are vertically integrated and leverage cross-plant resources, including centralized supply chain and procurement functions. This production process uses one key raw material, cumene, as the input to products produced for sale through the sales channels and end markets the Company serves. Production rates and output volumes are managed across locations to align with the overall Company operating plan. AdvanSix operates through five U.S.-based manufacturing sites located in Frankford, Pennsylvania, Chesterfield, Virginia, Hopewell, Virginia, Portsmouth, Virginia and Bucks, Alabama. The Company's headquarters is located in Parsippany, New Jersey. Corporate History On October 1, 2016, Honeywell International Inc. (“Honeywell”) completed the separation of AdvanSix. The separation was completed by Honeywell distributing (the "Distribution") all of the then outstanding shares of common stock of AdvanSix on October 1, 2016 (the “Distribution Date”) through a dividend in kind of AdvanSix common stock, par value $0.01 per share, to holders of Honeywell common stock as of the close of business on the record date of September 16, 2016 who held their shares through the Distribution Date. Basis of Presentation Unless the context otherwise requires, references in these Notes to the Consolidated Financial Statements to “we,” “us,” “our,” “AdvanSix” and the “Company” refer to AdvanSix Inc. and its consolidated subsidiaries after giving effect to the Spin-Off. All intercompany transactions have been eliminated. Note 2. Summary of Significant Accounting Policies Accounting Principles – The financial statements and accompanying Notes are prepared in accordance with accounting principles generally accepted in the United States of America. The following is a description of AdvanSix’s significant accounting policies. Principles of Consolidation – The Consolidated Financial Statements include the accounts of AdvanSix and all of its subsidiaries in which a controlling financial interest is maintained. Our consolidation policy requires equity investments that we exercise significant influence over but do not control the investee and are not the primary beneficiary of the investee’s activities to be accounted for using the equity method. All intercompany transactions and balances are eliminated in consolidation. Cash and Cash Equivalents – Cash and cash equivalents include cash on hand and on deposit and highly liquid, temporary cash investments with an original maturity to the Company of three months or less. We reduce cash and extinguish liabilities when the creditor receives our payment and we are relieved of our obligation for the liability when checks clear the Company’s bank account. Liabilities to creditors to whom we have issued checks that remain outstanding aggregated $4.9 million at December 31, 2025 and are included in Cash and cash equivalents and Accounts payable in the Consolidated Balance Sheets. 48
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Fair Value Measurement – ASC 820, Fair Value Measurement defines fair value as the price that would be received to sell an asset orpaid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The three-tierhierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assetsand liabilities, is as follows: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or Inputs other thanquoted prices that are observable for the asset or liability Level 3 Unobservable inputs for the asset or liability Financial and non-financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The pension plan assets are invested in collective investment trust funds, mutual funds and pooled separate accounts. The collective investment trust funds and pooled separate accounts are measured at fair value using the net asset value per share practical expedient and have not been classified in the fair value hierarchy. The alternative equity investments are classified as Level 1 in the fair value hierarchy disclosure. The Company’s Consolidated Balance Sheets include Cash and cash equivalents, Accounts receivable and Accounts payable all of which are recorded at amounts which approximate fair value. The Company also has assets that are required to be recorded at fair value on a non-recurring basis. These assets are evaluated when certain triggering events occur (including a decrease in estimated future cash flows) that indicate the asset should be evaluated for impairment. Goodwill and indefinite lived intangible assets must be evaluated at least annually. Derivative Financial Instruments – We minimize our risks from interest and foreign currency exchange rate fluctuations through our normal operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. Derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. Derivative financial instruments that qualify for hedge accounting must be designated and effective as a hedge of the identified risk exposure at the inception of the contract. Accordingly, changes in fair value of the derivative contract must be highly correlated with changes in fair value of the underlying hedged item at inception of the hedge and over the life of the hedge contract. The Company currently has no derivative financial instruments. Commodity Price Risk Management – The Company's exposure to market risk for commodity prices can result in changes in our cost of production. We primarily mitigate our exposure to commodity price risk by using long-term, formula-based price contracts with our suppliers and formula-based price agreements with customers. Our customer agreements provide for price adjustments based on relevant market indices and raw material prices, and generally they do not include take-or-pay terms. Instead, each customer agreement, the majority of which have a term of at least one year, is typically determined by monthly or quarterly volume estimates. We may also enter into forward commodity contracts with third parties designated as hedges of anticipated purchases of several commodities. The Company currently has no forward commodity contracts. Credit and Market Risk Management – The Company manages its exposure to counterparty credit risk through specific minimum credit standards, diversification of counterparties, and procedures to monitor concentrations of credit risk. The Company continually monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business. The terms and conditions of credit sales are designed to mitigate or eliminate concentrations of credit risk with any single customer. The Company did not have any customers with significant concentrations of trade accounts receivable – net at December 31, 2025 and 2024. Allowance for doubtful accounts is calculated based upon the Company's estimate of expected credit losses over the life of exposure based upon both historical information as well as future expected losses. Inventories – Substantially all of the Company's inventories are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method. The Company includes spare and other parts in inventory which are used in support of production or production facilities operations and are valued based on weighted average cost. Inventories valued at LIFO amounted to $225.3 million and $196.5 million at December 31, 2025 and 2024, respectively. Had such LIFO inventories been valued at current costs, their carrying values would have been approximately $80.1 million and $64.1 million higher at December 31, 2025 and 2024. Inventories valued at FIFO amounted to $11.2 million and $15.9 million at December 31, 2025 and 2024, respectively. Property, Plant, Equipment – Property, plant, equipment asset values are recorded at cost, including any asset retirement obligations, less accumulated depreciation. For financial reporting, the straight-line method of depreciation is used over the estimated 49
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useful lives of 10 to 40 years for buildings and improvements and 3 to 35 years for machinery and equipment. Our machinery and equipment includes (1) assets used in short production cycles or subject to high corrosion, such as instrumentation, controls and insulation systems with useful lives of 3 to 30 years, (2) standard plant assets, such as boilers and railcars, with useful lives ranging from 3 to 30 years and (3) major process equipment that can be used for long durations with effective preventative maintenance and repair, such as cooling towers, compressors, tanks and turbines with useful lives ranging from 3 to 35 years. Recognition of the fair value of obligations associated with the retirement of tangible long-lived assets is required when there is a legal obligation to incur such costs. Upon initial recognition of a liability, the cost is capitalized as part of the related long-lived asset and depreciated over the corresponding asset’s useful life. Repairs and maintenance, including planned major maintenance, are expensed as incurred. Costs which materially add to the value of the asset or prolong its useful life are capitalized and the replaced assets are retired. Long-Lived Assets – The Company evaluates the recoverability of the carrying amount of long-lived assets (including property, plant and equipment and intangible assets with determinable lives) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. The Company evaluates events or changes in circumstances based on several factors including operating results, business plans and forecasts, general and industry trends, and economic projections and anticipated cash flows. An impairment is assessed when the undiscounted expected future cash flows derived from the asset group are less than its carrying amount. Impairment losses are measured as the amount by which the carrying value of an asset group exceeds its fair value and are recognized in the Consolidated Statements of Operations. The Company also evaluates the estimated useful lives of long-lived assets if circumstances warrant and revises such estimates based on current events. Goodwill – The Company had goodwill of $56.2 million at December 31, 2025 and 2024. Goodwill is subject to impairment testing annually on the last day of our October close, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. To determine if goodwill is potentially impaired, we have the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value is less than the carrying value. The Company’s practice is to perform a quantitative impairment assessment at least every three years. Under the qualitative assessment, the Company considers several factors, including the enterprise value from the previous quantitative test and the excess of fair value over carrying value from such test, macroeconomic conditions (including changes in interest rates and discount rates), industry and market considerations, recent and projected financial performance of the Company, as well as other factors. The Company has concluded that, as of the fourth quarter of 2025, it is not more likely than not that an impairment of the goodwill balances exists. Our qualitative analysis reflects our best estimates of the impacts of the cyclical nature of the industries in which we operate, as well as the cycles of fluctuating supply and demand for each of our products resulting in changes in selling prices and margins. It is possible that in the future there may be changes in industry trends, estimates and assumptions, including the timing and amount of future cash flows, margins, growth rates, market participant assumptions, comparable benchmark companies and related multiples and discount rates, which could impact estimates of fair value. Significant and adverse changes to any one or more of the above-noted estimates and assumptions could result in an impairment. Finite-Lived Intangible Assets – Other intangible assets with determinable lives consist of customer relationships, trademarks, patents and other intangibles and are amortized over their estimated useful lives, ranging from 5 to 20 years. Revenue Recognition – The Company recognizes revenue upon the transfer of control of goods or services to customers at amounts that reflect the consideration expected to be received. AdvanSix primarily recognizes revenues when title and control of the product transfers from the Company to the customer. Outbound shipping costs incurred by the Company are not included in revenues but are reflected as freight expense in Cost of goods sold in the Consolidated Statements of Operations. Sales of our products to customers are made under a purchase order, and in certain cases in accordance with the terms of a master services agreement. These agreements typically contain formula-based pass-through pricing tied to key feedstock materials and volume ranges, but often do not specify the goods, including the quantities thereof, to be transferred. Certain master services agreements (including with respect to our largest customer) may contain minimum purchase volumes which can be satisfied by the customer on a periodic basis by choosing from various products offered by the Company. In these cases, a performance obligation is created when a customer submits a purchase order for a specific product at a specified price, typically providing for delivery within the next 60 days. Management considers the performance obligation with respect to such purchase order satisfied at the point in time when control of the product is transferred to the customer, which is indicated by shipment of the product and transfer of title and risk of loss to the customer. Transfer of control to the customer occurs through various modes of shipment, including trucks, railcars, and vessels, and generally follows commercially acceptable shipping point terms pursuant to the arrangement with the customer. In more limited circumstances, the Company recognizes revenue from sales of products that are subject to inventory consignment agreements, and transfer of control generally occurs when the customer pulls product from the consignment inventory location. Variable 50
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consideration is estimated for future volume rebates and early pay discounts on certain products and product returns. The Company records variable consideration as an adjustment to the sale transaction price. Since variable consideration is generally settled within one year, the time value of money is not significant. The Company applies the practical expedient in Topic 606 and does not include disclosures regarding remaining performance obligations that have original expected durations of one year or less, or amounts for variable consideration allocated to wholly-unsatisfied performance obligations or wholly-unsatisfied distinct goods that form part of a single performance obligation, if any. The Company also utilizes the practical expedient in Topic 606 and does not include an adjustment for the effects of a significant financing component given the expected period duration of one year or less. Environmental – The Company accrues costs related to environmental matters when it is probable that we have incurred a liability related to an event or site and the amount can be reasonably estimated. Deferred Income and Customer Advances – AdvanSix typically has an annual pre-buy program for ammonium sulfate that is classified as deferred income and customer advances in the Consolidated Balance Sheets. Customers pay cash in advance to reserve capacity for ammonium sulfate to guarantee product availability during peak planting season. The Company recognizes a customer advance liability when cash is received for the advanced buy. Revenue is then recognized and the customer advance is relieved upon title transfer of ammonium sulfate. Trade Receivables and Allowance for Credit Losses – Trade accounts receivables are recorded at the invoiced amount as a result of transactions with customers. AdvanSix maintains allowances for credit losses for estimated losses based on a customer’s inability to make required payments. AdvanSix estimates anticipated losses from doubtful accounts based on days past due, as measured from the contractual due date and historical collection history and incorporates changes in economic conditions that may not be reflected in historical trends such as customers in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowance for credit losses when they are determined uncollectible. Such determination includes analysis and consideration of the particular conditions of the account, including time intervals since last collection, customer performance against agreed upon payment plans, success of outside collection agencies activity, solvency of customer and any bankruptcy proceedings. Research and Development – AdvanSix conducts research and development (“R&D”) activities, which consist primarily of the development of new products and product applications consisting primarily of labor costs and depreciation and maintenance costs. R&D costs are charged to expense as incurred. Such costs are included in costs of goods sold and were $8.7 million, $8.8 million, and $9.8 million for the years ended December 31, 2025, 2024 and 2023, respectively. Debt Issuance Costs – Debt issuance costs are capitalized as a component of Other assets and are amortized through interest expense over the related term. Stock-Based Compensation Plans – The principal awards issued under our stock-based compensation plans, which are described in "Note 14. Stock-Based Compensation Plans" to the Consolidated Financial Statements included in Item 8 of this Form 10-K, are non- qualified stock options, performance stock units and restricted stock units. The cost for such awards is measured at the grant date based on the fair value of the award. The value of the portion of the award that is ultimately expected to vest, including the impact of the Company's anticipated performance against certain metrics for performance stock units, is recognized as expense over the requisite service periods (generally the vesting period of the equity award) and is included in selling, general and administrative expenses. Estimates of future performance are utilized to determine the underlying expense for shares expected to vest. Forfeitures are estimated at the time of grant to recognize expense for those awards that are expected to vest and are based on our historical forfeiture rates. Dividend Equivalents – If a dividend is authorized by the Board for stockholders of common stock, holders of unvested RSUs and unvested PSUs will have their accounts credited with dividend equivalents in the form and in an amount equal to the dividend that the holder would have received had the shares underlying the RSUs and PSUs been distributed at the time that such dividend was paid. Dividend equivalents are subject to the same vesting, forfeiture, performance and payment restrictions as the respective equity award for which it is attributable. Since the dividend equivalents are forfeitable, there is no impact on the basic earnings per share calculation. Pension Benefits – We have a defined benefit plan covering certain employees primarily in the U.S. The benefits are accrued over the employees’ service periods. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of net periodic pension income or expense. Differences between actual and expected results or changes in the value of defined benefit obligations and fair value of plan assets, if any, are not recognized in earnings as they occur but rather systematically over subsequent periods when net actuarial gains or losses are in excess of 10% of the greater of the fair value of plan assets or the plan’s projected benefit obligation. 51
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Foreign Currency Translation – Assets and liabilities of subsidiaries operating outside the United States with a functional currency other than U.S. dollars are translated into U.S. dollars using year-end exchange rates. Sales, costs and expenses are translated at the average exchange rates in effect during the year. Foreign currency translation gains and losses are included as a component of Accumulated other comprehensive income (loss) in our Consolidated Balance Sheets. Income Taxes – We account for income taxes pursuant to the asset and liability method which requires us to recognize current tax liabilities or receivables for the amount of taxes we estimate are payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences attributable to temporary differences between the financial statement carrying amounts and their respective tax bases of assets and liabilities and the expected benefits of net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. We apply the provisions of ASC 740 related to the accounting for uncertainty in income taxes recognized in an enterprise’s consolidated financial statements. ASC 740 prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The benefit of tax positions taken or expected to be taken in our income tax returns are recognized in the financial statements if such positions are more likely than not of being sustained upon examination by taxing authorities. Differences between tax positions taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to the interpretation are referred to as “unrecognized benefits.” A liability is recognized (or amount of net operating loss carryover or amount of tax refundable is reduced) for an unrecognized tax benefit because it represents an enterprise’s potential future obligation to the taxing authority for a tax position that was not recognized as a result of applying the provisions of ASC 740. Interest costs and related penalties related to unrecognized tax benefits are required to be calculated, if applicable. Our policy is to classify tax related interest and penalties, if any, as a component of income tax expense. No interest or penalties related to unrecognized income tax benefits were recorded during the years ended December 31, 2025, 2024 and 2023. As of December 31, 2025 and 2024, no liability for unrecognized tax benefits was required to be reported. We do not expect any significant changes in our unrecognized tax benefits in the next year. Leases – The Company enters into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. Operating leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions. An arrangement is considered to be a lease if the agreement conveys the right to control the use of the identified asset in exchange for consideration. Operating leases, which are reported as Operating lease right-of-use assets, and Operating lease liabilities – short-term and Operating lease liabilities – long-term are included in our Consolidated Balance Sheets. Finance leases are included as a component of Property, plant and equipment – net, Accounts payable and Other liabilities in our Consolidated Balance Sheets. The Company elected the following practical expedients available in Topic 842: • the package of three expedients which allows the Company to not re-assess (i) whether any expired or existing contracts are, orcontain, leases, (ii) lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases;• the short-term lease practical expedient, which allows the Company to exclude leases with an initial term of 12 months or less("short-term leases") from recognition in the Consolidated Balance Sheets;• the bifurcation of lease and non-lease components practical expedients, which did not require the Company to bifurcate lease and non-lease components for real estate leases; and• the land easements practical expedient, which allows the Company to carry forward the accounting treatment for land easementson existing agreements. Earnings Per Share – Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding and all dilutive potential common shares outstanding. Treasury Stock – The Company has elected to account for treasury stock purchased under the constructive retirement method. For shares repurchased in excess of par, the Company will allocate the excess value to additional paid-in capital. 52
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Use of Estimates – The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and related disclosures in the accompanying Notes. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of changes are reflected in the Consolidated Financial Statements in the period they are determined to be necessary. Reclassifications – Certain prior period amounts have been reclassified for consistency with the current period presentation. Recent Accounting Pronouncements – The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. On December 4, 2025, the FASB issued ASU No. 2025-10: Accounting for Government Grants Received by Business Entities. The amendments in this ASU establish the accounting for a government grant received. The amendments require that a grant received should not be recognized until (1) it is probable that (a) an entity will comply with conditions attached to the grant and (b) the grant will be received and (2) an entity meets the recognition guidance for a grant related to an asset or to income. The amendments require that a grant related to an asset be recognized on the balance sheet as the entity incurs the related costs for which the grant is intended to compensate, either as (1) deferred income (the deferred income approach) or (2) an adjustment to the cost basis in determining the carrying amount of the asset (the cost accumulation approach). A grant related to income and a grant related to an asset for which the deferred income approach is elected should be recognized in earnings on a systematic and rational basis over the periods in which an entity recognizes as expenses the costs for which the grant is intended to compensate. The amendments require that an entity present a grant related to income and a grant related to an asset for which the deferred income is elected as part of earnings either (1) separately under a general heading such as other income or (2) deducted from the related expense. In addition, the amendments require that an entity provide disclosures, including the nature of the government grant received, the accounting policies used to account for the grant, and significant terms and conditions of the grant. For public business entities, this update is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. The amendments in this ASU require that a business entity apply the guidance using a modified prospective approach, a modified retrospective approach or a retrospective approach to all government grants through a cumulative effect adjustment to the opening balance of retained earnings as of the beginning of the earliest period presented. The Company is evaluating the pronouncement and does not expect adoption to have a material impact on its consolidated financial position or results of operations. On December 8, 2025, the FASB issued ASU No. 2025-11: Interim Reporting (Topic 270), Narrow Scope Improvements. The amendments in this ASU provide a comprehensive list of interim disclosures that are required by GAAP. The amendments also clarify the applicability of Topic 270, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP to enhance consistency in interim reporting for all entities. The update is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 for public business entities. Early adoption is permitted. The amendments in this update can be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements. The Company is evaluating the pronouncement and does not expect adoption to have a material impact on its consolidated financial position or results of operations. In August 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Practical Expedient for Measuring Expected Credit Losses on Certain Financial Assets. The amendments in this ASU provide a simplified approach for estimating credit losses on certain financial assets, including current accounts receivable, by permitting entities to elect a practical expedient when measuring expected credit losses. Under current guidance, when estimating expected credit losses, an entity must (1) consider not only historical loss experience but also adjust that information to reflect current conditions and reasonable and supportable forecasts and (2) include a measure of expected credit loss even if that risk is remote. The amendments in this ASU allow an entity, as a practical expedient, to: (1) Assume that current conditions as of the balance sheet date will remain unchanged over the remaining life of the financial asset; and (2) continue to adjust historical loss information to reflect current conditions to the extent that historical information does not already do so. The amendments are effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual periods. Early adoption is permitted in any interim or annual period for which financial statements have not yet been issued or made available for issuance. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this ASU require disclosure, in the notes to the financial statements, of specified information about certain costs and expenses. The amendments require that at each interim and annual reporting period an entity will: (1) disclose the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil-and gas- producing activities (or other amounts of depletion expense) included in each relevant expense caption. A relevant expense caption is an expense caption presented on the face of the income statement within continuing operations that contains any of the expense 53
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categories listed in (a)-(e); (2) include certain amounts that are already required to be disclosed under current generally accepted accounting principles (GAAP) in the same disclosure as other disaggregation requirements; (3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and (4) disclose the total amount of selling expense and, in annual reporting periods, an entity's definition of selling expense. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU should be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is evaluating the pronouncement and does not expect adoption to have a material impact on the Company's consolidated financial position or results of operations. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this ASU require that public business entities, on an annual basis, disclose specific categories in the rate reconciliation and provide additional information for reconciling items that are equal to or greater than 5 percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate. The amendments also require that the Company disclose the following (net of refunds received): (1) the amount of income taxes paid disaggregated by federal (national), state, and foreign taxes and (2) the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than 5 percent of total income taxes paid. Additionally, the amendments in this update eliminate the requirement for all entities to disclose the nature and estimate of the range of the reasonably possible change in the unrecognized tax benefits balance in the next 12 months or to make a statement that an estimate of the range cannot be made, and remove the requirement to disclose the cumulative amount of each type of temporary difference when a deferred tax liability is not recognized because of the exceptions to comprehensive recognition of deferred taxes related to subsidiaries and corporate joint ventures. This pronouncement is effective for annual periods beginning after December 31, 2024. The Company adopted ASU 2023-09 retrospectively in its Annual Report on Form 10-K effective December 31, 2025. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require incremental disclosures about the Company's reportable segments, but do not change the definition of a segment or the guidance for determining reportable segments. The incremental disclosures should include (1) significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, (2) an amount for other segment items by reportable segment and a description of its composition, (3) profit or loss and assets currently required by Topic 280 in interim periods, (4) clarification if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources and (5) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The guidance is effective for public entities with fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Additionally, public entities should apply the amendments retrospectively to all prior periods presented in the financial statements, unless impractical. The Company adopted ASU 2023-07 effective December 31, 2024, which did not have any impact on the Company's consolidated financial position or results of operations upon adoption. Note 3. Revenue AdvanSix serves approximately 375 customers annually, primarily in the United States, spanning a wide variety of industries worldwide. For 2025, 2024 and 2023, the Company's ten largest customers accounted for approximately 40%, 38% and 39% of total sales, respectively. We typically sell to customers under master services agreements, with primarily one-year terms, or by purchase orders. We have historically experienced low customer turnover and have an average customer relationship of approximately 20 years. Our largest customer is Shaw Industries Group Inc. ("Shaw"), a significant consumer of caprolactam and Nylon 6 resin. We sell caprolactam and Nylon 6 resin to Shaw under a long-term agreement. Sales to Shaw were 10% of our total sales for the years ended December 31, 2025 and 2024, and 11% for the year ended December 31, 2023. The Company’s revenue by product line, and related approximate percentage of total sales for 2025, 2024 and 2023 were as follows: Years Ended December 31, 2025 2024 2023 Nylon $ 309,678 20% $ 348,501 23% $ 356,632 23% Caprolactam 271,370 18% 276,303 18% 298,375 20% Plant Nutrients* 563,688 37% 458,152 30% 477,929 31% Chemical Intermediates* 377,497 25% 434,601 29% 400,663 26% $ 1,522,233 100% $ 1,517,557 100% $ 1,533,599 100% 54
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* In 2024, the Company transferred certain products between its Chemical Intermediates product line and its Plant Nutrients product line to align more closely with its current sales structure. Historical information was reclassified to reflect these changes for all periods presented in the Consolidated Financial Statements. Total revenue amounts were not impacted for either period. The Company’s revenues by geographic area, and related approximate percentage of total sales for 2025, 2024 and 2023 were as follows: Years Ended December 31, 2025 2024 2023 United States $ 1,309,755 86 % $ 1,304,971 86 % $ 1,250,094 82 % International* 212,478 14 % 212,586 14 % 283,505 18 % Total $ 1,522,233 100 % $ 1,517,557 100 % $ 1,533,599 100 % * Predominantly Latin America and Canada. Deferred Income and Customer Advances The Company defers revenues when cash payments are received in advance of our performance. Customer advances relate primarily to sales from the ammonium sulfate business. Below is a roll-forward of Deferred income and customer advances for the twelve months ended December 31, 2025: Deferred Income and Customer Advances 2025 Opening balance January 1, 2024 $ 37,538 Additional cash advances 14,318 Less amounts recognized in revenues (37,320) Ending balance December 31, 2025 $ 14,536 The Company expects to recognize as revenue the December 31, 2025 ending balance of Deferred income and customer advances within one year or less. Note 4. Income Taxes Years Ended December 31, 2025 2024 2023 Income before taxes U.S. $ 54,354 $ 45,497 $ 69,055 Non-U.S. 77 78 168 $ 54,431 $ 45,575 $ 69,223 Income taxes Income tax expense (benefit) consists of: Years Ended December 31, 2025 2024 2023 Current Provision (benefit): Federal $ (4,954) $ 7,525 $ 20,707 State 2,263 2,865 3,159 Non-U.S. 22 23 47 Total current provision (benefit) $ (2,669) $ 10,413 $ 23,913 Deferred Provision (benefit): Federal $ 6,516 $ (8,192) $ (8,886) State 1,298 (795) (427) Total deferred provision (benefit) 7,814 (8,987) (9,313) Total income tax expense $ 5,145 $ 1,426 $ 14,600 55
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Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2, Recent Accounting Pronouncements, the U.S. federal statutory income tax rate is reconciled to the effective income tax rate as follows. ASU 2023-09 has been retrospectively adopted and the table below has been updated for all periods presented: Years Ended December 31, 2025 2024 2023 Amount Percentage Amount Percentage Amount Percentage U.S. federal statutory income tax rate $ 11,431 21.0 % $ 9,570 21.0 % $ 14,536 21.0 % U.S. state income taxes, net of federal income tax effect 2,798 5.1 % 1,635 3.6 % 2,157 3.1 % Foreign tax effects 6 — % 6 — % 14 — % Effect of cross-border tax laws: Foreign derived intangible income deduction — — % (384) (0.8)% (842) (1.2)% Other 2 — % 4 — % (21) — % Tax Credits: Energy credits (9,702) (17.8)% (9,748) (21.4)% — — % Research and development tax credits (624) (1.2)% (433) (1.0)% (935) (1.4)% Other (28) — % (29) (0.1)% (30) (0.1)% Nontaxable or nondeductible items: Executive compensation limitations 1,455 2.7 % 1,774 3.9 % 697 1.0 % Excess tax benefits of equity compensation (399) (0.7)% (959) (2.1)% (1,003) (1.3)% Other 206 0.4 % (10) — % 27 — % Effective income tax rate $ 5,145 9.5 % $ 1,426 3.1 % $ 14,600 21.1 % (a) During the year ended December 31, 2023, states taxes in South Carolina and West Virginia made up the majority (greater than 50%) of the tax effect in this category. During the year ended December 31, 2024, states taxes in Alabama, Georgia, Kentucky and Michigan made up the majority (greater than 50%) of the tax effect in this category. During the year ended December 31, 2025, states taxes in Delaware, Iowa, Minnesota and Pennsylvania made up the majority (greater than 50%) of the tax effect in this category. Upon adoption of ASU 2023-09, cash paid for income taxes, net of refunds, during the years ended December 31, 2025, 2024, and 2023 were as follows: Income Taxes Paid and Refunds: Years Ended December 31, 2025 2024 2023 Federal taxes paid, net of refunds $ 12,900 $ 15,383 $ 6,006 State and local taxes paid, net of refunds 2,220 1,189 1,548 Foreign taxes paid, net of refunds 9 19 40 Income taxes paid, net of refunds $ 15,129 $ 16,591 $ 7,594 The Company's effective income tax rate differs from the U.S. statutory rate of 21% due to state taxes and executive compensation limitations which generally increase the effective income tax rate. Research tax credits, excess tax benefits of equity compensation and the foreign derived intangible income deduction recorded in a period generally decrease the effective income tax rate. Additionally, the Company's effective income tax rate for 2024 and 2025 was less than the U.S. Federal statutory rate of 21% due to Internal Revenue Code (IRC) Section 45Q tax credits of approximately $9.7 million claimed in each of those years for credits generated in tax periods 2018, 2019 and 2020. IRC Section 45Q allows a taxpayer to receive a tax credit for carbon capture and utilization at its facilities. For certain utilization projects, the 45Q tax credit requires approval by the Internal Revenue Service (IRS) of a life-cycle assessment ("LCA") prior to claiming the tax credits. The Company received approval for its 2018 LCA in November 2024, which the Company was able to rely on for 2018 through 2020. Approximately $18.1 million of the 45Q tax credits claimed for these periods are reflected in Taxes receivable as of December 31, 2025. The Company continues to pursue IRC section 45Q tax credits for the periods after 2020. The Company's effective income tax rate for 2023 approximated the U.S. Federal statutory rate of 21%. Increases to the effective income tax rate due primarily to state taxes and executive compensation limitations, were materially offset by research tax credits, excess tax benefits of equity compensation and the foreign-derived intangible income deduction. On July 4, 2025, the One Big Beautiful Bill Act (the "Act") was enacted into law, which includes numerous tax provisions affecting businesses, including the reinstatement of full expensing of domestic research and experimental expenditures, modification of the (a) 56
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limitation on business interest and making permanent full expensing for certain business property. These provisions resulted in an approximately $9 million reduction in cash taxes in our financial results for the period ended December 31, 2025. As of December 31, 2025 and 2024, there were no unrecognized tax benefits recorded by the Company. Although there are no unrecognized income tax benefits, when applicable, the Company’s policy is to report interest expense and penalties related to unrecognized income tax benefits in the income tax provision. The Company is subject to taxation in the United States and various states and foreign jurisdictions. The Company is currently under audit for U.S. federal tax purposes for periods 2018 through 2021. Tax periods 2022 through 2025 remain open under the statute of limitations and are subject to examination by the tax authorities. There are no current state or foreign tax examinations; however, tax years 2021 through 2025 generally remain open under the statute of limitations and are subject to examination by the tax authorities. Deferred tax assets (liabilities) The tax effects of temporary differences which give rise to future income tax benefits and expenses are as follows: December 31, 2025 2024 Deferred tax assets: Net operating loss $ 98 $ 92 Accruals and reserves 6,399 4,317 Capitalization of research expenses 459 7,787 Inventory 22,545 17,346 Operating lease liability 39,921 36,931 Equity compensation 2,799 2,899 Other 46 — Total gross deferred tax assets 72,267 69,372 Less: Valuation Allowance — — Total deferred tax assets $ 72,267 $ 69,372 Deferred tax liabilities: Property, plant & equipment $ (169,962) $ (163,991) Intangibles (12,678) (10,857) Operating lease asset (39,665) (36,822) Pension obligation (1,135) (421) Other (2,888) (2,580) Total deferred tax liabilities (226,328) (214,671) Net deferred taxes $ (154,061) $ (145,299) The net deferred taxes are primarily related to U.S. operations. The Company has no material state net operating losses (NOL) carryforwards and no material federal or state tax credit carryforwards remaining as of December 31, 2025. We believe that the state NOL and tax credit carryforwards and other deferred tax assets are more likely than not to be realized and we have not recorded a valuation allowance against the deferred tax assets. The Company's accounting policy is to record the tax impacts of Global intangible low-taxed income as a period cost. As of December 31, 2025 and 2024, there were no material undistributed earnings of the Company's non-U.S. subsidiaries and, as such, we have not provided a deferred tax liability for undistributed earnings. Note 5. Accounts and Other Receivables – Net 57
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December 31, 2025 2024 Accounts receivables $ 153,059 $ 141,273 Other 1,438 4,982 Total accounts and other receivables 154,497 146,255 Less – allowance for credit losses (395) (582) Total accounts and other receivables – net $ 154,102 $ 145,673 The roll-forward of allowance for credit losses are summarized in the table below: Balance atBeginning ofYear Charged /(Credited) toCosts Charged toOther Accounts (1) Bad Debt Write-Offs (1) Balance atEnd of Year Year ended December 31, 2025 $ 582 $ (128) $ — $ (59) $ 395 Year ended December 31, 2024 833 (893) 228 414 582 Year ended December 31, 2023 594 458 47 (266) 833 (1) No Impact to Statement of Operations Note 6. Inventories December 31, 2025 2024 Raw materials $ 116,248 $ 99,320 Semi-finished and finished goods 167,498 145,169 Spares and other 32,877 31,948 316,623 276,437 Reduction to LIFO cost basis (80,128) (64,051) Total inventories $ 236,495 $ 212,386 Substantially all of the Company’s inventories at December 31, 2025 and 2024 are valued at the lower of cost or market using the LIFO method. However, approximately 5% was valued at average cost using the first-in, first-out (“FIFO”) method at December 31, 2025. The excess of replacement cost over the carrying value of total inventories subject to LIFO was $61.3 million and $57.5 million at December 31, 2025 and 2024, respectively. Note 7. Property, Plant, Equipment – Net December 31, 2025 2024 Land and improvements $ 11,761 $ 11,761 Machinery and equipment 1,799,142 1,698,835 Buildings and improvements 254,999 244,761 Construction in progress 75,756 95,053 2,141,658 2,050,410 Less – accumulated depreciation (1,177,940) (1,132,552) Total property, plant, equipment – net $ 963,718 $ 917,858 Capitalized interest was $6,783, $5,666 and $3,375 for the years ended December 31, 2025, 2024 and 2023, respectively. Depreciation expense was $74,377, $70,750 and $67,528 for the years ended December 31, 2025, 2024 and 2023, respectively. Note 8. Leases We determine if an arrangement is a lease at inception. Operating leases, which are reported as Operating lease right-of-use assets ("ROU"), Operating lease liabilities – short-term, and Operating lease liabilities – long-term are included in our Consolidated Balance 58
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Sheets. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease pre-payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease and, when it is reasonably certain that such an option will be exercised, it is included in the determination of the corresponding assets and liabilities. Short-term leases are not recognized on our Consolidated Balance Sheets. Lease expense for all operating lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has entered into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. The operating leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions. The term and length of the various agreements, as well as the timing of any renewals, will impact the ROU asset calculation and related liability. The components of lease expense were as follows: Years Ended December 31, 2025 2024 2023 Finance lease cost: Amortization of right-of-use asset $ 1,027 $ 1,036 $ 932 Interest on lease liabilities 149 163 106 Total finance lease cost 1,176 1,199 1,038 Operating lease cost 53,748 43,517 47,148 Short-term lease cost 4,181 6,647 5,415 Total lease cost $ 59,105 $ 51,363 $ 53,601 Supplemental cash flow information related to leases was as follows: Years Ended December 31, 2025 2024 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 52,782 $ 43,188 Operating cash flows from finance leases 149 124 Financing cash flows from finance leases 1,002 1,011 Non-cash information: Right-of-use assets obtained in exchange for lease obligations: Operating leases 12,375 72,361 Finance leases 684 1,218 Supplemental balance sheet information related to leases was as follows: 59
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Years Ended December 31, 2025 2024 Operating Leases Operating lease right-of-use assets $ 164,494 $ 153,438 Operating lease liabilities – short term 44,354 42,493 Operating lease liabilities – long term 121,201 111,400 Total operating lease liabilities $ 165,555 $ 153,893 Finance Leases Property, plant and equipment – gross $ 2,707 $ 4,131 Accumulated depreciation (592) (1,771) Property, plant and equipment – net $ 2,115 $ 2,360 Accounts payable $ 945 $ 897 Other liabilities 1,194 1,549 Total finance lease liabilities $ 2,139 $ 2,446 Weighted Average Remaining Lease Term Operating leases 7.0 years 7.2 years Finance leases 2.5 years 3.1 years Weighted Average Discount Rate Operating leases 6.46 % 6.16 % Finance leases 6.61 % 6.92 % Maturities of lease liabilities are as follows: Year Ending December 31, Operating Leases FinanceLeases 2026 $ 54,516 $ 1,064 2027 43,399 768 2028 36,925 433 2029 22,324 50 2030 16,506 15 Thereafter 38,516 — Total lease payments 212,186 2,330 Less imputed interest (46,631) (191) Total $ 165,555 $ 2,139 As of December 31, 2025, we have no additional operating or finance leases that have not yet commenced. Note 9. Long-term Debt and Credit Agreement The Company’s debt consisted of the following at December 31,: 2025 2024 Total term loan outstanding $ — $ — Amounts outstanding under the Revolving Credit Facility 215,000 195,000 Total outstanding indebtedness 215,000 195,000 Less: amounts expected to be repaid within one year — — Total long-term debt due after one year $ 215,000 $ 195,000 At December 31, 2025, the Company assessed the Revolving Credit Facility (defined below) and determined that such amounts approximated fair value. The fair values of the debt are based on quoted inactive market prices and are therefore classified as Level 2 within the valuation hierarchy. 60
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Credit Agreement On October 27, 2021, the Company completed a refinancing of the Second Amended and Restated Credit Agreement by entering into a new Credit Agreement (the “Credit Agreement”), among the Company, the lenders party thereto, the swing line lenders party thereto, the letter of credit issuers party thereto and Truist Bank, as administrative agent, which provides for a new senior secured revolving credit facility in an aggregate principal amount of $500 million (the “Revolving Credit Facility”). Borrowings under the Revolving Credit Facility are subject to customary borrowing conditions. The Revolving Credit Facility had a scheduled maturity date of October 27, 2026 (which was extended pursuant to an October 2025 amendment, as described in more detail below. The Credit Agreement permits the Company to utilize up to $40 million of the Revolving Credit Facility for the issuance of letters of credit and up to $40 million for swing line loans. The Company has the option to establish a new class of term loans and/or increase the amount of the Revolving Credit Facility in an aggregate principal amount for all such incremental term loans and increases of the Revolving Credit Facility of up to the sum of (x) $175 million plus (y) an amount such that the Company’s Consolidated First Lien Secured Leverage Ratio (as defined in the Credit Agreement) would not be greater than 2.75 to 1.00, in each case, to the extent that any one or more lenders, whether or not currently party to the Credit Agreement, commits to be a lender for such amount or any portion thereof. Borrowings under the Credit Agreement bear interest at a rate equal to either the sum of a base rate plus a margin ranging from 0.25% to 1.25% or the sum of an Adjusted Term SOFR rate plus a margin ranging from 1.25% to 2.25%, with either such margin varying according to the Company’s Consolidated Leverage Ratio (as defined in the Credit Agreement). The Company is also required to pay a commitment fee in respect of unused commitments under the Revolving Credit Facility, if any, at a rate ranging from 0.15% to 0.35% per annum depending on the Company’s Consolidated Leverage Ratio. Substantially all tangible and intangible assets of the Company and its domestic subsidiaries are pledged as collateral to secure the obligations under the Credit Agreement. The Credit Agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, pay cash dividends, incur debt or liens, redeem or repurchase stock of the Company, enter into transactions with affiliates, make investments, make capital expenditures, merge or consolidate with others or dispose of assets. The Credit Agreement also contains financial covenants that require the Company to maintain a Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) of not less than 3.00 to 1.00 and to maintain a Consolidated Leverage Ratio of 3.75 to 1.00 or less (subject to the Company’s option to elect a consolidated leverage ratio increase in connection with certain acquisitions). If the Company does not comply with the covenants in the Credit Agreement, the lenders may, subject to customary cure rights, require the immediate payment of all amounts outstanding under the Revolving Credit Facility. We were in compliance with all of our covenants at December 31, 2025. On October 23, 2025, the Company entered into Amendment No. 2 (the “Amendment”) to the Credit Agreement (as further amended by the Amendment, the “Amended Credit Agreement”), among the Company, the guarantors, the lenders party thereto and Truist Bank, as administrative agent. Pursuant to the Amendment, the Credit Agreement was amended to, among other things: (i) extend the maturity date of the Revolving Credit Facility for participating Revolving Credit Lenders, as defined in the Amended Credit Agreement, in an aggregate principal amount of $452 million to the earlier of (x) October 27, 2027 and (y) the date of the termination in whole of the Revolving Credit Facility, pursuant to the terms of the Amended Credit Agreement, and (ii) effect certain other conforming changes and modifications consistent with the foregoing. The remaining $48 million under the Revolving Credit Facility that was not extended will continue to mature on the earlier of (x) October 27, 2026 and (y) the date of the termination in whole of the Revolving Credit Facility, pursuant to the terms of the Amended Credit Agreement. Note 10. Postretirement Benefit Obligations Defined Contribution Benefit Plan On January 1, 2017, the Company established a defined contribution plan which covers all eligible U.S. employees. Our plan allows eligible employees to contribute a portion of their cash compensation to the plan to save for their future retirement needs. The Company matches 50% or 75% of the first 8% of contributions for employees covered by a collective bargaining agreement, dependent upon the terms of the respective collective bargaining agreement and matches 75% of the first 8% of the employee’s contribution election for all other employees. The plan’s matching contributions vest after three years of service with the Company. The Company may also provide an additional discretionary retirement savings contribution which is at the sole discretion of the Company. The Company made contributions to the defined contribution plan of $6.7 million, $6.8 million and $6.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. Defined Benefit Pension Plan 61
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Prior to the Spin-Off certain of our employees participated in a defined benefit pension plan (the “Shared Plan”) sponsored by Honeywell which includes participants of other Honeywell subsidiaries and operations. We accounted for our participation in the Shared Plan as a multi-employer benefit plan. Accordingly, we did not record an asset or liability to recognize the funded status of the Shared Plan. The related pension expense was allocated based on annual service cost of active participants and reported within Costs of goods sold and Selling, general and administrative expenses in the Statements of Operations. As of the date of separation from Honeywell, these employees’ entitlement to benefits in Honeywell’s plans was frozen and they will accrue no further benefits in Honeywell’s plans. Honeywell retained the liability for benefits payable to eligible employees, which are based on age, years of service and average pay upon retirement. Upon consummation of the Spin-Off, AdvanSix employees who were participants in a Honeywell defined benefit pension plan became participants in the AdvanSix defined benefit pension plan (“AdvanSix Retirement Earnings Plan”). The AdvanSix Retirement Earnings Plan has the same benefit formula as the Honeywell defined benefit pension plan. Moreover, vesting service, benefit accrual service and compensation credited under the Honeywell defined benefit pension plan apply to the determination of pension benefits under the AdvanSix Retirement Earnings Plan. Benefits earned under the AdvanSix Retirement Earnings Plan shall be reduced by the value of benefits accrued under the Honeywell plans. The following tables summarize the balance sheet impact, including the benefit obligations, assets and funded status associated with the AdvanSix Retirement Earnings Plan. Change in benefit obligation: 2025 2024 2023 Benefit obligation at January 1, $ 87,288 $ 93,270 $ 80,174 Service Cost 3,961 4,877 4,906 Interest Cost 4,684 4,524 4,048 Actuarial losses (gains) 5,782 (12,285) 6,636 Benefits Paid (3,510) (3,098) (2,494) Benefit obligation at December 31, $ 98,205 87,288 93,270 Change in plan assets: Fair value of plan assets at January 1, 89,039 86,084 77,362 Actual return on plan assets 15,683 6,053 11,216 Benefits paid (3,510) (3,098) (2,494) Fair value of plan assets at December 31, 101,212 89,039 86,084 Under (Over)-Funded status of plan $ (3,007) $ (1,751) $ 7,186 Amounts recognized in Balance Sheet consists of: Accrued pension liabilities-current $ — $ — $ 3,526 Accrued pension liabilities-noncurrent — — 3,660 Pension asset-noncurrent (3,007) (1,751) — Total pension liabilities (assets) recognized $ (3,007) $ (1,751) $ 7,186 (1) Included in accrued liabilities on Balance Sheet (2) Included in postretirement benefit obligations on Balance Sheet (3) Included in other assets on Balance Sheet Pension amount recognized in accumulated other comprehensive loss (income) associated with the Company's pension plan are as follows for: Years Ended December 31, 2025 2024 2023 Transition obligation $ — $ — $ — Prior service cost — — — Net actuarial gain (18,658) (14,725) (1,271) Pension amount recognized in other comprehensive income: $ (18,658) $ (14,725) $ (1,271) The components of net periodic benefit cost and other amounts recognized in other comprehensive income for our pension plan include the following components: (1) (2) (3) 62
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Years Ended December 31, 2025 2024 2023 Net periodic pension cost (benefit) Service cost $ 3,961 $ 4,877 $ 4,906 Interest cost 4,684 4,524 4,048 Expected return on plan assets (5,038) (4,884) (4,396) Recognition of actuarial gain (930) — — Net periodic Pension Cost 2,677 4,517 4,558 Other changes in benefits obligations recognized in other comprehensive loss(income) Actuarial gain (3,933) (13,455) (184) Total recognized in other comprehensive income (3,933) (13,455) (184) Total net periodic pension cost (benefit) recognized in Other comprehensiveincome $ (1,256) $ (8,938) $ 4,374 The estimated actuarial gain that was amortized from accumulated other comprehensive income (loss) into net periodic benefit cost was $0.9 million in 2025 and nil in 2024 and 2023. Significant actuarial assumptions used in determining the benefit obligations and net periodic benefit cost for our pension plan were as follows: Key actuarial assumptions used to determine benefit obligations at December 31, 2025 2024 2023 Effective discount rate for benefit obligation 5.6% 5.8% 5.1% Expected annual rate of compensation increase 2.8% 2.9% 2.9% Key actuarial assumptions used to determine the net periodic benefit cost for the years endedDecember 31, 2025 2024 2023 Effective discount rate for service cost 5.8% 5.1% 5.3% Effective discount rate for interest cost 5.5% 4.9% 5.1% Expected long-term rate of return 6.5% 6.5% 6.5% Expected annual rate of compensation increase 2.9% 2.9% 2.9% The discount rate for our pension plan reflects the current rate at which the associated liabilities could be settled at the measurement date of December 31 of a given year. To determine discount rates for our pension plan, we use a modeling process that involves matching the expected cash outflows of our benefit plan to a yield curve constructed from a portfolio of high quality, fixed-income debt instruments. We use the single weighted-average yield of this hypothetical portfolio as a discount rate benchmark. The long-term expected rate of return on funded assets is developed by using forward-looking long-term return assumptions for each asset class. Management incorporates the expected future investment returns on current and planned asset allocations using information from external investment consultants as well as management judgment. A single rate is then calculated as the weighted average of the target asset allocation percentages and the long-term return assumption for each asset class. The accumulated benefit obligation for our pension plan was $89.9 million, $79.7 million and $81.3 million as of December 31, 2025, 2024 and 2023, respectively. Benefit payments, including amounts to be paid from Company assets, and reflecting expected future service, as appropriate, are expected to be paid during the following years: 2026 $ 4,407 2027 5,069 2028 5,516 2029 6,146 2030 6,646 Thereafter 39,201 Our general funding policy for our pension plan is to contribute amounts at least sufficient to satisfy regulatory funding standards. The Company was not required to make pension plan contributions during the years ended December 31, 2025, 2024 and 2023. Earnings 63
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from our investments were sufficient to satisfy pension funding requirements under the AdvanSix Retirement Earnings Plan during these periods. The Company expects to make pension plan contributions during 2026 sufficient to satisfy pension funding requirements estimated to be approximately $3 million, as well as evaluate contributions in future years sufficient to satisfy pension funding requirements in those periods. The pension plan assets are invested through a master trust fund. The strategic asset allocation for the trust fund is selected by the Company's Investment Committee reflecting the results of comprehensive asset and liability modeling. The Investment Committee establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The target asset allocation percent for the Company's pension plan assets is summarized as follows: Years Ended December 31, 2025 2024 Cash and cash equivalents 3% 3% US and non-US equity securities 36% 44% Fixed income/ real estate/ other securities 32% 33% Alternative equity 29% 20% Total Pension Assets 100% 100% Fixed income and other securities include investment grade securities covering the Treasury, agency, asset-backed, mortgage-backed and credit sectors of the U.S. Bond Market, as well as listed real estate companies and real estate investment trusts located in both developed and emerging markets. Fair Value at December 31, Fair Value Measurements 2025 2024 2023 Level 1 Investments Mutual Fund $ 31,582 $ — $ — Investments valued using NAV per share Emerging Markets Region Equities 6,214 5,184 4,839 International Region Equities 18,821 17,618 16,975 United States Equities 14,906 41,235 38,324 United States Bonds 27,677 22,034 22,988 Real Estate 1,414 1,360 1,391 Cash Fund 598 1,608 1,567 Total Pension Plan Assets at Fair Value $ 101,212 $ 89,039 $ 86,084 The pension plan assets are invested in collective investment trust funds, mutual funds and pooled separate accounts, as shown above. The collective investment trust funds and pooled separate accounts are measured at fair value using the net asset value ("NAV") per share practical expedient and have not been classified in the fair value hierarchy. The mutual funds are classified as Level 1 in the fair value hierarchy. Note 11. Commitments and Contingencies Litigation The Company is subject to a number of lawsuits, investigations and disputes, some of which involve substantial amounts claimed, arising out of the conduct of the Company or other third-parties in the normal and ordinary course of business. A liability is recognized for any contingency that is probable of occurrence and reasonably estimable. The Company continually assesses the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses (taking into consideration any insurance recoveries), based on an analysis of each matter with the assistance of legal counsel and, if applicable, other experts. Given the uncertainty inherent in such lawsuits, investigations and disputes, the Company does not believe it is possible to develop estimates of reasonably possible loss in excess of current accruals for these matters. Considering the Company’s past experience and 64
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existing accruals, the Company does not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on the Company’s Consolidated Balance Sheets, results of operations or cash flows. Potential liabilities are subject to change due to new developments, changes in settlement strategy or the impact of evidentiary requirements, which could cause the Company to pay damage awards or settlements (or become subject to equitable remedies) that could have a material adverse effect on the Company’s consolidated results of operations, balance sheet and/or operating cash flows in the periods recognized or paid. We assumed from Honeywell all health, safety and environmental (“HSE”) liabilities and compliance obligations related to the past and future operations of our current business, as well as all HSE liabilities associated with our three current manufacturing locations and the other locations used in our current operations, including any cleanup or other liabilities related to any contamination that may have occurred at such locations in the past. Honeywell retained all HSE liabilities related to former business locations or the operation of our former businesses. Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to be material for 2026. Unconditional Purchase Obligations In the normal course of business, the Company makes commitments to purchase goods with various vendors which are consistent with our expected requirements and generally relate to cumene, sulfur and natural gas as well as a long-term agreement for loading, unloading and the handling of a portion of our ammonium sulfate export volumes. Future minimum payments for these unconditional purchase obligations as of December 31, 2025 are as follows (dollars in thousands): Year Amount 2026 $ 171,479 2027 152,036 2028 148,201 2029 144,876 2030 9,441 Thereafter 90,000 $ 716,033 Note 12. Changes in Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) are as follows: 65
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CurrencyTranslationAdjustment PostretirementBenefitObligationsAdjustment Changes inFair Value ofEffective CashFlow Hedges AccumulatedOtherComprehensiveIncome (loss) Balance at December 31, 2022 $ (5,098) $ 758 $ 143 $ (4,197) Other comprehensive income (loss) 63 184 (197) 50 Amounts reclassified from accumulated othercomprehensive income (loss) — — — — Income tax expense (benefit) — (44) 47 3 Current period change 63 140 (150) 53 Balance at December 31, 2023 (5,035) 898 (7) (4,144) Other comprehensive income (loss) (109) 13,454 — 13,345 Amounts reclassified from accumulated othercomprehensive income (loss) — — — — Income tax expense (benefit) — (3,231) — (3,231) Current period change (109) 10,223 — 10,114 Balance at December 31, 2024 (5,144) 11,121 (7) 5,970 Other comprehensive income (loss) 34 3,933 — 3,967 Amounts reclassified from accumulated othercomprehensive income (loss) — — — — Income tax expense (benefit) — (948) 7 (941) Current period change 34 2,985 7 3,026 Balance at December 31, 2025 $ (5,110) $ 14,106 $ — $ 8,996 Note 13. Earnings Per Share The details of the earnings per share calculations for the years ended December 31, 2025, 2024 and 2023 are as follows: Years Ended December 31, 2025 2024 2023 Basic Net Income $ 49,286 $ 44,149 $ 54,623 Weighted average common shares outstanding 26,901,046 26,828,338 27,302,254 EPS – Basic $ 1.83 $ 1.65 $ 2.00 Years Ended December 31, 2025 2024 2023 Diluted Net Income $ 49,286 $ 44,149 $ 54,623 Weighted average common shares outstanding – Basic 26,901,046 26,828,338 27,302,254 Dilutive effect of unvested equity awards 426,403 426,875 705,376 Weighted average common shares outstanding – Diluted 27,327,449 27,255,213 28,007,630 EPS – Diluted $ 1.80 $ 1.62 $ 1.95 66
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Diluted EPS is computed based upon the weighted average number of common shares outstanding for the year plus the dilutive effect of common stock equivalents using the treasury stock method and the average market price of our common stock for the year. The diluted EPS calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period. For the years ended December 31, 2025, 2024 and 2023, stock options of 950,283, 834,288 and 475,359, respectively, were anti-dilutive and excluded from the computations of dilutive EPS. In September 2017, the Board of Directors (the "Board") adopted the AdvanSix Inc. Deferred Compensation Plan (the “DCP”), effective January 1, 2018. Pursuant to the DCP, our directors may elect to defer their cash retainer fees and allocate their deferrals to the AdvanSix stock unit fund. Each unit allocated under the stock unit fund represents the economic equivalent of one share of common stock. Units are paid out in shares of AdvanSix common stock upon distribution. As of December 31, 2025, a total of 80,850 units were allocated to the AdvanSix stock unit fund under the DCP. On May 4, 2018, the Company announced that the Board authorized a share repurchase program of up to $75 million of the Company’s common stock. On February 22, 2019, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the May 2018 share repurchase program. Repurchases may be made, from time to time, on the open market, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act of 1934, as amended. The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The par value of the shares repurchased is applied to Treasury stock and the excess of the purchase price over par value is applied to Additional paid in capital. During 2025, the Company had repurchased 61,660 shares of common stock, all of which were withheld to cover the tax withholding obligations in connection with the vesting awards, for an aggregate of $1.7 million at a weighted average market price of $26.90 per share. The purchase of shares reduces the weighted average number of shares outstanding in the basic and diluted earnings per share calculations. Note 14. Stock-Based Compensation Plans On September 8, 2016, prior to the Spin-Off, our Board adopted, and Honeywell, as our sole stockholder, approved, the 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates, and the material terms of performance-based compensation were approved by the Company's stockholders for tax purposes at our 2017 annual meeting of stockholders (the "Original Plan"). The Original Plan was amended and restated as the 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates, as Amended and Restated, which was approved by stockholders of the Company at the Annual Meetings of Stockholders held on June 23, 2020 and subsequently on June 15, 2022 (the “Equity Plan”). As a result, no further grants will be made under the Original Plan. The Equity Plan provides for the grant of stock options, stock appreciation rights, performance awards, restricted stock units, restricted stock, other stock-based awards and non-share-based awards. The maximum aggregate number of shares of our common stock that may be issued under all stock-based awards granted under the Equity Plan is 2,594,395, subject to adjustment in accordance with the terms of the Equity Plan. Under the Equity Plan, the shares underlying all full-value awards, including those granted to non-employee directors, will be counted against the share reserve on a 1.55- for-one basis. Shares underlying stock option awards and SARs will be counted against the share reserve on a one-for-one basis. Under the terms of the Equity Plan, there were approximately 1,300,000 shares of AdvanSix common stock available for future grants of full-value awards at December 31, 2025. Restricted Stock Units – The Company may grant RSUs to key management employees and directors that generally vest over periods ranging from 1 to 3 years. In the event cash dividends are paid to shareholders of common stock, dividend equivalents accrue on all unvested RSUs. Dividend equivalents are subject to the same termination and vesting terms as the underlying RSU. Upon vesting, the RSUs and related dividend equivalents entitle the holder to receive one share of AdvanSix common stock for each RSU and dividend equivalent at time of vesting and are payable in AdvanSix common stock upon vesting. The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date. The following table summarizes information about RSU activity related to the Equity Plan: 67
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Number ofRestrictedStock Units(In Thousands) Weighted AverageGrant Date FairValue(Per Share) Non-vested at December 31, 2022 396 $ 25.53 Granted 178 34.75 Vested (218) 15.83 Forfeited (19) 38.92 Non-vested at December 31, 2023 337 35.97 Granted 320 25.77 Vested (150) 28.52 Forfeited (47) 33.53 Non-vested at December 31, 2024 460 31.53 Granted 314 26.01 Vested (156) 32.36 Forfeited (85) 29.99 Non-vested at December 31, 2025 533 $ 28.28 As of December 31, 2025, there was approximately $6.3 million of total unrecognized compensation cost related to non-vested RSUs granted under the Equity Plan which is expected to be recognized over a weighted-average period of 1.1 years. The following table summarizes information about the income statement impact from RSUs for the Years Ended December 31, 2025, 2024 and 2023: Years Ended December 31, 2025 2024 2023 Compensation expense $ 6,193 $ 5,670 $ 4,049 Future income tax benefit recognized $ 2,037 $ 1,186 $ 1,107 Stock Options – The exercise price, term and other conditions applicable to each option granted under the Equity Plan are generally determined by the Compensation Committee of the Board. The exercise price of stock options is set on the grant date and may not be less than the fair market value per share of our stock on that date. The fair value is recognized as an expense over the employee’s requisite service period (generally the vesting period of the award). Options generally vest over periods ranging from 1 to 3 years. The following table summarizes information about the income statement impact from stock options for the years ended December 31, 2025, 2024 and 2023. Years Ended December 31, 2025 2024 2023 Compensation expense $ 162 $ 822 $ 1,651 Future income tax benefit recognized $ 613 $ 1,498 $ 1,215 The fair value related to stock options granted was determined using Black-Scholes option pricing model and the weighted average assumptions are shown in the table below: Years Ended December 31, Key Black-Scholes Assumptions 2025 2024 2023 Risk-free interest rate —% —% 4.1% Expected term (years) 0 0 6 Volatility —% —% 46.5% Dividend yield —% —% 1.4% Fair value per stock option $— $— $18.04 The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model. Volatility is determined based on the average volatility of peer companies with similar option terms. The expected term is determined using a 68
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simplified approach, calculated as the mid-point between the vesting period and the contractual term of the award. The risk-free interest rate is determined based upon the yield of an outstanding U.S. Treasury note with a term equal to the expected term of the option granted. No stock options were awarded during 2025. The following table summarizes information about stock option activity related to the Equity Plan: Number of Shares(In Thousands) Weighted AverageExercise Price(Per Share) WeightedAverageRemainingContractualTerm (Years) AggregateIntrinsic Value Outstanding at December 31, 2022 883 27.97 6.81 $ 8,870 Exercisable at December 31, 2022 578 $ 27.49 6.06 $ 6,082 Granted 86 41.15 Exercised (9) 28.14 Forfeited — — Expired (3) 33.27 Outstanding at December 31, 2023 957 29.26 6.17 $ 4,446 Exercisable at December 31, 2023 728 $ 26.47 5.46 $ 4,412 Granted — — Exercised (24) 17.96 Forfeited (8) 40.43 Expired (8) 36.12 Outstanding at December 31, 2024 917 29.40 5.16 $ 3,536 Exercisable at December 31, 2024 828 $ 28.20 4.87 $ 3,536 Granted — — Exercised (17) 14.29 Forfeited (5) 40.42 Expired (65) 34.38 Outstanding at December 31, 2025 830 29.25 4.18 $ 654 Exercisable at December 31, 2025 805 $ 28.86 4.08 $ 654 The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the year and the exercise price, multiplied by the number of in-the-money options) that would have been received had all option holders exercised their in-the-money options at year-end. The amount changes based on the fair market value of the Company’s stock. As of December 31, 2025, there was no unrecognized stock-based compensation expense related to stock options that is expected to be recognized over a weighted average period of approximately 0.2 years. Performance Stock Units – The Company may issue PSUs to key senior management employees which, upon vesting, convert one-for- one to AdvanSix common stock. In the event cash dividends are paid to shareholders of common stock, dividend equivalents will accrue on all unvested PSUs. Dividend equivalents are subject to the same termination, vesting and performance terms as the underlying PSU award. The actual number of shares an employee receives for each PSU and related dividend equivalent depends on the Company’s performance against certain metrics, including cumulative Earnings Per Share and average annual Return on Investment goals over three- year performance and vesting periods. Commencing with the 2021 awards, a market-based factor has the potential to increase or decrease the performance award by 10%. This metric is calculated based upon how the Company's Total Shareholder Return compared to that of its peer group over the vesting period. Each grantee is granted a target level of PSUs and may earn between 0% and 200% of the target level depending on the Company’s performance against the financial goals. 69
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The following table summarizes information about PSU activity related to the Equity Plan: Number ofPerformanceStock Units(In Thousands) Weighted AverageGrant Date FairValue(Per Share) Non-vested at December 31, 2022 395 $ 23.04 Granted 93 42.63 Vested (193) 14.29 Forfeited (1) 38.84 Non-vested at December 31, 2023 294 37.77 Granted 144 28.00 Vested (108) 30.37 Forfeited (33) 35.86 Non-vested at December 31, 2024 297 35.95 Performance adjustment (83) 41.67 Granted 143 29.85 Vested — — Forfeited (41) 32.60 Non-vested at December 31, 2025 316 $ 32.14 The fair value of the PSUs is principally based on the fair market value of the Company’s stock at the grant date. The number of underlying shares to be issued will be based on actual performance achievement over the performance period. The accrual of compensation costs is based on our estimate of the probable expected value of the award. The fair value of each PSU grant is amortized monthly into compensation expense on a straight-line basis over a vesting period of 36 months. Changes in expected probable value are recorded as compensation expense on a catch-up basis in the month in which the change is identified. Any remaining balance is amortized monthly into compensation expense on a straight-line basis over the remaining vesting period. The Company assumes that forfeitures will be minimal, and estimates forfeitures at time of issuance, which results in a reduction in compensation expense. As the payout of PSUs includes dividend equivalents, no separate dividend yield assumption is required in calculating the fair value of the PSUs. The Company initiated a dividend during the fourth quarter of 2021. As of December 31, 2025, there was approximately $3.7 million of total unrecognized compensation cost related to non-vested PSUs granted under the Equity Plan which is expected to be recognized over a weighted-average period of 1.3 years. The following table summarizes information about the income statement impact from PSUs for the year ended December 31, 2025, 2024 and 2023. Years Ended December 31, 2025 2024 2023 Compensation expense $ 368 $ 1,411 $ 2,612 Future income tax benefit recognized $ 148 $ 216 $ 703 Note 15. Goodwill and Intangible Assets Intangible assets with finite lives acquired through a business combination are recorded at fair value, less accumulated amortization. Customer relationships and trade-names are amortized on a straight-line basis over their expected useful lives of 15 to 20 years and 5 years, respectively. Goodwill There was no change in the carrying amount of goodwill for the year ended December 31, 2025. Finite-Lived Intangible Assets Intangible assets subject to amortization were as follows: 70
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December 31, 2025 December 31, 2024 GrossCarryingAmount AccumulatedAmortization Net BookValue GrossCarryingAmount AccumulatedAmortization Net BookValue Customer relationships $ 36,820 $ (7,572) $ 29,248 $ 36,820 $ (5,666) $ 31,154 Licenses 18,451 (7,842) 10,609 18,451 (6,919) 11,532 Trade names 1,100 (862) 238 1,100 (642) 458 Total $ 56,371 $ (16,276) $ 40,095 $ 56,371 $ (13,227) $ 43,144 For each of the years ended December 31, 2025 and 2024, the Company recorded amortization expense on intangible assets of $3.0 million. The estimated aggregate amortization expense for each of the next five years is as follows: Year Amount 2026 $ 3,049 2027 2,866 2028 2,829 2029 2,829 2030 2,829 Note 16. Supplier Finance Programs The Company has entered into a supply chain finance program with a financial intermediary providing participating suppliers the option to be paid by the intermediary earlier than the original invoice due date. AdvanSix’s responsibility is limited to making payments to the intermediary based upon payment terms negotiated with the suppliers, regardless of whether the intermediary pays the supplier in advance of the original due date. The Company’s payment terms with suppliers are consistent, regardless of whether a vendor participates in the supply chain finance program or not. All related agreements are terminable by either party upon at least 30 days’ notice. The total amount due to the financial intermediaries to settle supplier invoices under all of its supplier finance programs at December 31, 2025 and 2024, are as follows (in thousands): December 31, 2025 2024 Confirmed obligations outstanding at the beginning of the period $ 19,155 $ 17,076 Invoices confirmed during the period 51,992 62,933 Confirmed invoices paid during the period (62,154) (60,854) Confirmed obligations outstanding at the end of the period $ 8,993 $ 19,155 These amounts outstanding are included in Accounts payable. Note 17. Segment Related Information The Company has concluded that it is a single operating segment and a single reportable segment: chemical manufacturing. Its larger manufacturing sites are vertically integrated and leverage cross-plant resources, including centralized supply chain and procurementfunctions. This production process uses one key raw material, cumene, as the input to products produced for sale through the saleschannels and end markets the Company serves. Production rates and output volumes are managed across locations to align with theCompany’s overall operating plan. Additionally, the Company’s operating results, which are evaluated regularly to make decisions about resource allocation and performance assessment by the CODM, our CEO and President, are on a consolidated basis. The chemical manufacturing segment derives its revenues by innovating and delivering essential products in the industries of nylonsolutions, plant nutrients, and chemical intermediates to its customers in a wide variety of end markets and applications, such as buildingand construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives and electronics. The CODM’s performance assessment and resource allocation for the chemical manufacturing segment is based on net income which isalso reported on the income statement as net income, the measure of segment assets which is also reported on the balance sheet as totalassets, and capital expenditures which is also reported in the statement of cash flows. 71
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The CODM uses net income generated from segment assets in deciding whether to reinvest profits into the segment or into other parts ofthe entity, such as for acquisitions or to pay dividends. The CODM also uses net income to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’scompensation. Lastly, the CODM uses capital expenditures to estimate the cash-generating potential and cash requirements of thesegment. Significant expense information reviewed by the CODM was as follows (in thousands): Years Ended December 31, 2025 2024 2023 Revenue $ 1,522,233 $ 1,517,557 $ 1,533,599 Less: Variable costs of goods sold * 663,871 691,300 711,169 Plant costs 500,596 487,671 470,457 Freight and distribution costs 184,172 176,849 177,095 Selling, general, and administrative expense 104,750 94,023 95,538 Other segment items ** 19,558 23,565 24,717 Segment net income $ 49,286 $ 44,149 $ 54,623 *Variable costs of goods sold includes the raw material costs associated with volumes sold during the period as well as insurance settlement proceeds, when applicable.**Other segment items include research and development expense, interest income and expense, capitalized interest, other non-operating expense, and income tax expense. Note 18. Subsequent Events As announced on February 20, 2026, the Board declared a quarterly cash dividend of $0.16 per share on the Company's common stock, payable on March 23, 2026 to stockholders of record as of the close of business on March 9, 2026. 72
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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Not Applicable. Item 9A. Controls and Procedures Evaluation of Disclosure Controls and Procedures The Company maintains disclosure controls and procedures designed to provide reasonable assurance that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to management, including the Chief Executive Officer and Interim Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. Management recognizes that any disclosure controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives. Because there are inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud have been, or will be, detected. Our Chief Executive Officer and Interim Chief Financial Officer, with the assistance of other members of our management, conducted an evaluation of the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d- 15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon such evaluation, our Chief Executive Officer and Interim Chief Financial Officer have concluded that our disclosure controls and procedures are effective at a reasonable assurance level as of December 31, 2025, the end of the period covered by this report. Management’s Report on Internal Control over Financial Reporting The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act, and for its assessment of the effectiveness of internal control over financial reporting. The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The Company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of Company assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control - Integrated Framework (2013). Based on this assessment, management determined that the Company maintained effective internal control over financial reporting as of December 31, 2025. PricewaterhouseCoopers LLP, the Company’s independent registered public accounting firm, has audited the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025, as stated in their report, which is included in "Item 8. Financial Statements and Supplementary Data" of this Form 10-K. Changes in Internal Control over Financial Reporting Management has not identified any change in the Company's internal control over financial reporting that occurred during the quarter ended December 31, 2025 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. 73
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During the third quarter of the year ended December 31, 2025, the Company implemented the new enterprise resource planning ("ERP") system which replaced existing operating and financial systems. The new ERP system is designed to provide enhanced transactional processing, reporting, security and management tools. The Company evaluated its control processes and determined that no significant modifications were needed to maintain the effectiveness of its internal controls over financial reporting. The Company will continue to monitor and evaluate its control processes to determine whether any modifications are needed to maintain the effectiveness of its internal controls over financial reporting. Item 9B. Other Information Insider Trading Arrangements During the quarter ended December 31, 2025, none of our directors or executive officers adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" as those terms are defined in Item 408 of Regulation S-K. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable. 74
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PART III. Item 10. Directors, Executive Officers and Corporate Governance Information relating to the directors and executive officers of the Company, as well as information relating to compliance with Section 16(a) of the Securities Exchange Act of 1934 and the Company's insider trading policy, as required by this Item 10, will be contained in our definitive Proxy Statement to be filed with the SEC in connection with our 2026 annual meeting of stockholders pursuant to Regulation 14A not later than 120 days after December 31, 2025 (the "2026 Proxy Statement") in the sections titled "Proposal No. 1" Election of Directors—Nominees for Election," "SEC Filings and Section 16(a) Reports—Delinquent Section 16(a) Reports," and "Executive Compensation—Insider Trading Policy;" and such information is incorporated herein by reference. Certain other information relating to the Executive Officers of AdvanSix appears in Part I of this Annual Report on Form 10-K under the heading "Information about our Executive Officers". The members of the Audit Committee of the Board are: Donald P. Newman (Chair), Daniel F. Sansone, Sharon S. Spurlin and Jeffrey J. Bird. The Board has determined that each of Mr. Newman, Mr. Sansone, Ms. Spurlin and Mr. Bird has been designated as an audit committee financial expert as defined by applicable SEC rules and that each satisfies the accounting or related financial management expertise criteria established by the NYSE. All members of the Audit Committee are independent as that term is defined in applicable SEC rules and NYSE listing standards. AdvanSix’s corporate governance policies and procedures, including the Code of Business Conduct, Corporate Governance Guidelines and Charters of the Committees of the Board are available, free of charge, on our website under the heading Investor Relations (see Corporate Governance) at https://investors.advansix.com/corporate-governance/governance-documents, or by writing to AdvanSix Inc., 300 Kimball Drive, Suite 101, Parsippany, New Jersey 07054, c/o Corporate Secretary. AdvanSix’s Code of Business Conduct applies to all AdvanSix directors, officers (including the Chief Executive Officer, Chief Financial Officer and Controller) and employees. Amendments to or waivers of the Code of Business Conduct granted to any of AdvanSix’s directors or executive officers will be published on our website within four business days of such amendment or waiver. Item 11. Executive Compensation Information relating to executive compensation and the Compensation Committee, as required by this Item 11, will be contained in the2026 Proxy Statement in the sections titled “Executive Compensation,” “Corporate Governance—Director Compensation,” “Corporate Governance—Director Compensation—Fiscal Year 2025,” “Corporate Governance—Board Committees—Compensation Leadership Development Committee Interlocks and Insider Participation,” and “Corporate Governance—Board Committees—Policy and Practices Regarding Equity Awards,”, and such information is incorporated herein by reference. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Information relating to certain beneficial ownership of certain stockholders and management, as well as certain other information required by this Item 12, will be contained in the 2026 Proxy Statement in the sections titled "Executive Compensation—Equity Compensation Plan Information Table" and "Stock Ownership Information," and such information is incorporated herein by reference. Item 13. Certain Relationships and Related Transactions and Director Independence Information relating to our independent directors and certain relationships and related transactions, as required by this Item 13, will be contained in the 2026 Proxy Statement in the sections titled “Corporate Governance—Director Independence” and “Corporate Governance —Policy and Procedures Governing Related Party Transactions,” and such information is incorporated herein by reference. Item 14. Principal Accounting Fees and Services Information relating to fees paid to and services performed by PricewaterhouseCoopers LLP and our Audit Committee’s pre-approval policies and procedures with respect to non-audit services, as required by this Item 14, will be contained in the 2026 Proxy Statement in the section titled "Proposal No.2: Ratification of Appointment of Independent Registered Public Accountants," and such information is incorporated herein by reference. 75
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PART IV. Item 15. Exhibits and Financial Statement Schedules (a)(1) Consolidated Financial Statements Page Number Report of Independent Registered Public Accounting Firm (PCAOB ID No. 238) 41 Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023 43 Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023 44 Consolidated Balance Sheets at December 31, 2025 and 2024 45 Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023 46 Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2025, 2024 and 2023 47 Notes to Consolidated Financial Statements 48 (a)(2) Financial Statement Schedules None (a)(3) Exhibits See the Exhibit Index of this Annual Report on Form 10-K Item 16. Form 10-K Summary The Company has elected not to include a Form 10-K summary under this Item 16. 76
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EXHIBIT INDEX Exhibit No. Description 2.1 Separation and Distribution Agreement, dated as of September 22, 2016, between Honeywell International Inc. andAdvanSix Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed onSeptember 28, 2016). 3.1 Amended and Restated Certificate of Incorporation of AdvanSix Inc. (incorporated by reference to Exhibit 3.1 to theCompany’s Quarterly Report on Form 10-Q filed on August 1, 2025). 3.2 Amended and Restated By-laws of AdvanSix Inc. (incorporated by reference to Exhibit 3.1 to the Company's CurrentReport on Form 8-K filed on June 20, 2023). 4.1 Description of Securities of the Registrant (incorporated by reference to Exhibit 4.1 to the Company's Annual Reporton Form 10-K filed on February 21, 2020). 10.1 Transition Services Agreement, dated as of September 28, 2016, between Honeywell International Inc. and AdvanSixInc. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on September 28,2016). 10.2 Tax Matters Agreement, dated as of September 22, 2016, between Honeywell International Inc. and AdvanSix Inc.(incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on September 28,2016). 10.3 Offer of Employment Letter between Honeywell International Inc. and Erin N. Kane, dated April 19, 2016(incorporated by reference to Exhibit 10.9 to the Company’s Amendment No. 1 to Form 10 filed on July 25, 2016). † 10.4 Offer of Employment Letter between AdvanSix Inc. and Siddharth Manjeshwar, dated September 12, 2024(incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the SEC onNovember 1, 2024) † 10.5 Employment Separation Agreement and Release between AdvanSix Inc. and Siddharth Manjeshwar, dated July 9,2025 (incorporated by reference to Exhibit 10.1 to the Company’s Form 10-Q filed on November 7, 2025)† 10.6 Offer of Employment Letter between Honeywell International Inc. and Michael Preston, dated May 13, 2016(incorporated by reference to Exhibit 10.11 to the Company’s Amendment No. 1 to Form 10 filed on July 25, 2016). † 10.7 Offer of Employment Letter between AdvanSix Inc. and Achilles B. Kintiroglou, dated February 24, 2020(incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed with the SEC onMay 1, 2020) † 10.8 Offer of Employment Letter between AdvanSix Inc. and Kelly Slieter, dated May 25, 2020 (incorporated by referenceto Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed with the SEC on July 31, 2020) † 10.9 Offer of Employment Letter between AdvanSix Inc. and Christopher Gramm, dated as of August 19, 2016(incorporated by reference to Exhibit 10.5 to the Company’s Current Report on Form 8-K filed on October 3, 2016). † 10.10 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates (incorporated by reference to Exhibit 10.6 to theCompany’s Current Report on Form 8-K filed on October 3, 2016). † 77
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Exhibit No. Description 10.11 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates, as Amended and Restated (incorporated by reference toExhibit 10.1 to the Company’s Current Report on Form 8-K filed on June 23, 2020). 10.12 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates, as Amended and Restated (effective June 15, 2022)(incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on June 16, 2022) † 10.13 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates, as Amended and Restated (effective June 18, 2025)(incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on June 20, 2025) † 10.14 Form of Restricted Stock Unit Agreement for Non-Employee Directors under the AdvanSix Inc. 2016 Stock IncentivePlan (incorporated by reference to Exhibit 10.8 to the Company’s Current Report on Form 8-K filed on October 3,2016). † 10.15 Form of Restricted Stock Unit Agreement for Executive Officers under the AdvanSix Inc. 2016 Stock Incentive Plan(incorporated by reference to Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q filed on May 11, 2017).† 10.16 Form of Restricted Stock Unit Agreement for Executive Officers under the AdvanSix Inc. 2016 Stock Incentive Plan,as Amended and Restated (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on May 5, 2023). † 10.17 Form of Performance Stock Unit Agreement under the AdvanSix Inc. 2016 Stock Incentive Plan (incorporated byreference to Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q filed on May 11, 2017). † 10.18 Form of Performance Stock Unit Agreement for Executive Officers under the AdvanSix Inc. 2016 Stock IncentivePlan, as Amended and Restated (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report onForm 10-Q filed on May 5, 2023). † 10.19 Form of Stock Option Award Agreement under the AdvanSix Inc. 2016 Stock Incentive Plan (incorporated byreference to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q filed on May 11, 2017). † 10.20 Form of Stock Option Award Agreement for Executive Officers under the AdvanSix Inc. 2016 Stock Incentive Plan,as Amended and Restated (incorporated by reference to Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q filed on May 5, 2023). † 10.21 AdvanSix Inc. Deferred Compensation Plan (incorporated by reference to Exhibit 10.1 to the Company's CurrentReport on Form 8-K filed on September 26, 2017). † 10.22 Executive Severance Pay Plan of AdvanSix Inc. (incorporated by reference to Exhibit 10.1 to the Company's CurrentReport on Form 8-K filed on November 15, 2017). † 10.23 Form of Noncompete Agreement for Senior Executives (incorporated by reference to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q filed on August 3, 2018). † 10.24 Amended and Restated Caprolactam and Polymer Supply Agreement dated as of Jan 1, 2019, by and betweenAdvanSix Resins Chemicals LLC and Shaw Industries Group, Inc. (incorporated by reference to Exhibit 10.31 to theCompany’s Annual Report on Form 10-K filed with the SEC on February 22, 2019) * 10.25 Amendment No. 1 and Amendment No. 2 to Amended and Restated Caprolactam and Polymer Supply Agreement,dated as of October 1, 2021 and January 1, 2023, respectively, by and between AdvanSix Resins Chemicals LLC andShaw Industries Group, Inc. (incorporated by reference to Exhibit 10.36 to the Company’s Annual Report on Form10-K filed with the SEC on February 17, 2023)** 10.26 Amendment No. 3 to Amended and Restated Caprolactam and Polymer Supply Agreement, dated as of May 1, 2024,by and between AdvanSix Resins and Chemicals LLC and Shaw Industries Group, Inc.** (incorporated by referenceto Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 2, 2024)** 78
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Exhibit No. Description 10.27 Credit Agreement, dated as of October 27, 2021, among AdvanSix Inc., the lenders party thereto and Truist Bank, asadministrative agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filedon October 29, 2021). 10.28 First Amendment to Credit Agreement, dated as of June 27, 2023, among AdvanSix Inc., the lenders party thereto andTruist Bank, as administrative agent (with annexed Amended and Restated Credit Agreement) (incorporated byreference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed on August 4, 2023). 10.29 Amendment No. 2 to Credit Agreement, dated as of October 23, 2025, among AdvanSix Inc., the guarantors, thelenders signatory thereto and Truist Bank, as the administrative agent (incorporated by reference to Exhibit 10.1 to theCompany's Current Report on Form 8-K filed on October 23, 2025). 19.1 AdvanSix Inc. Policy Regarding Insider Trading and Other Transactions in AdvanSix Securities (incorporated byreference to Exhibit 19.1 to the Company’s Annual Report on Form 10-K filed on February 21, 2025). 21.1 List of subsidiaries of AdvanSix Inc. (incorporated by reference to Exhibit 21.1 to Amendment No. 4 to theRegistration Statement of AdvanSix Inc. on Form 10 dated and filed with the SEC on August 31, 2016 and effectiveas of September 8, 2016). 23.1 Consent of PricewaterhouseCoopers LLP. 24.1 Power of Attorney (included on the signature page of this Annual Report on Form 10-K). 31.1 Rule 13a-14(a)/15d-14(a) Certification of the Company’s Principal Executive Officer. 31.2 Rule 13a-14(a)/15d-14(a) Certification of the Company’s Principal Financial Officer. 32.1 Section 1350 Certification of the Company’s Principal Executive Officer. The information contained in this Exhibitshall not be deemed filed with the SEC nor incorporated by reference in any registration statement filed by theregistrant under the Securities Act of 1933, as amended. 32.2 Section 1350 Certification of the Company’s Principal Financial Officer. The information contained in this Exhibitshall not be deemed filed with the SEC nor incorporated by reference in any registration statement filed by theregistrant under the Securities Act of 1933, as amended. 97.1 AdvanSix Inc. Incentive Compensation Recovery Policy, effective as of September 20, 2023 (incorporated byreference to Exhibit 97.1 to the Company's Annual Report on Form 10-K filed with the SEC on February 16, 2024). † 99.1 Information Statement of AdvanSix Inc. (incorporated by reference to Exhibit 99.1 to Amendment No. 5 to theRegistration Statement of AdvanSix Inc. on Form 10 dated and filed with the SEC on September 7, 2016 and effectiveas of September 8, 2016). 101.INS Inline XBRL Instance Document - The instance document does not appear in the interactive data file because itsXBRL tags are embedded within the Inline XBRL document. 101.SCH Inline XBRL Taxonomy Extension Schema 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase 101.LAB Inline XBRL Taxonomy Extension Label Linkbase 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) 79
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† Indicates management contract or compensatory plan. * Confidential treatment has been granted for certain information contained in Exhibit 10.24 and the omitted portions have been filed separately with the SEC. ** Portions of this exhibit have been redacted in compliance with Item 601(b)(10) of Regulation S-K. 80
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Signatures Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANSIX INC. Date: February 20, 2026 By:/s/ Christopher Gramm Christopher Gramm Vice President and Interim Chief Financial Officer(on behalf of the registrant and as the registrant’s PrincipalFinancial Officer) POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Erin N. Kane, Christopher Gramm, and Achilles B. Kintiroglou, or any of them, his or her attorneys-in-fact, for such person in any and all capacities, to sign any amendments to this report and to file the same, with exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that either of said attorneys-in-fact, or substitute or substitutes, may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Exchange Act of 1934, this annual report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated: /s/ Erin N. KaneErin N. KanePresident and Chief Executive Officer, and Director(Principal Executive Officer) /s/ Todd D. KarranTodd D. KarranIndependent Chairman of the Board /s/ Jeffrey J. BirdJeffrey J. BirdDirector /s/ Gena C. LovettGena C. Lovett, Ph.D.Director /s/ Donald P. NewmanDonald P. NewmanDirector /s/ Dana O'BrienDana O'BrienDirector /s/ Daryl RobertsDaryl RobertsDirector /s/ Daniel F. SansoneDaniel F. SansoneDirector /s/ Sharon S. Spurlin Sharon S. Spurlin Director /s/ Patrick S. WilliamsPatrick S. WilliamsDirector /s/ Christopher GrammChristopher GrammVice President and Interim Chief Financial Officer (Principal Financial Officer) /s/ Rachael E. RyanRachael E. RyanVice President and Controller(Principal Accounting Officer) February 20, 2026 81
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Exhibit 23.1 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in the Registration Statements on Form S-8 (No. 333-213914, No. 333-220643, No.333-239394, No. 333-265659, and No. 333-288197) of AdvanSix Inc. of our report dated February 20, 2026 relating to the financialstatements and the effectiveness of internal control over financial reporting, which appears in this Form 10-K. /s/ PricewaterhouseCoopers LLPFlorham Park, New JerseyFebruary 20, 2026
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Exhibit 31.1 CERTIFICATIONS I, Erin N. Kane, certify that: 1. I have reviewed this Annual Report on Form 10-K of AdvanSix Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. Date: February 20, 2026 /s/ Erin N. Kane Erin N. Kane President and Chief Executive Officer
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Exhibit 31.2 CERTIFICATIONS I, Christopher Gramm, certify that: 1. I have reviewed this Annual Report on Form 10-K of AdvanSix Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. Date: February 20, 2026 /s/ Christopher Gramm Christopher Gramm Vice President and Interim Chief FinancialOfficer
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Exhibit 32.1 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Annual Report of AdvanSix Inc. (the “Company”) on Form 10-K for the period ended December 31, 2025, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of her knowledge: 1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and 2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Date: February 20, 2026 /s/ Erin N. Kane Erin N. Kane President and Chief Executive Officer
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Exhibit 32.2 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Annual Report of AdvanSix Inc. (the “Company”) on Form 10-K for the period ended December 31, 2025, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge: 1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and 2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Date: February 20, 2026 /s/ Christopher Gramm Christopher Gramm Vice President and Interim Chief FinancialOfficer