Slides
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Second Quarter 2025 Earnings Presentation August 6, 2025
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Safe Harbor Statement and Other Matters 2 This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Secti on 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally iden tify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, guidance on Company and segment performance for the second qua rter of 2025, the full year 2025 and the Company’s refreshed corporate strategy. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized, such as guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties including the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory i nquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, any future insurance recoveries,, our ability to maintain an effective internal control over financial reporting and disclosu re controls and procedures, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, changes in regulations in the U.S. or other jurisdictions t hat could impose tariffs or additional costs on products we either sell or need to purchase, anticipated future operating and financial performance for our segments individually and our company as a whole, business pla ns, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, efforts to resolve outstanding or potential litigation, including claims related to legacy PFAS liabilities, plans for dividends, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to develop and commercialize new produ cts or technologies and obtain necessary regulatory approvals, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements also may involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions, geopolitical conditions, changes in laws and regulations in the U.S. or other jurisdictions in which we operate, and global health events and weather events, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause d isruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10 -Q for the quarter ended June 30, 2025, and in our Annual Report on Form 10-K for the year ended December 31, 2024. Chemours assumes no obligation to revise o r update any forward-looking statement for any reason, except as required by law. We prepare our financial statements in accordance with Generally Accepted Accounting Principles (GAAP). Within this presentat ion, we may make reference to Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, Free Cash Flow, Free Cash Flow Conversion, Total Debt Principal, Net and Net Leverage Ratio which are non -GAAP financial measures. The Company includes these non-GAAP financial measures because management believes they are useful to investors in that they provide for greater transparency with respect to supple mental information used by management in its financial and operational decision making. Management uses Adjusted Net Income, Adjusted EPS and Adjusted EBITDA, which adjust for (i) certain non -cash items, (ii) certain items we believe are not indicative of ongoing operating performance or (iii) certain nonrecurring, unusual or infrequent items to evaluate the Company's performance in order to have comparable fin ancial results to analyze changes in our underlying business from period to period. Additionally, Free Cash Flow, Free Cash Flow Conversion Total Debt Principal, Net and Net Leverage Ratio are utilized as liqu idity measures to assess the cash generation of our businesses and on -going liquidity position. Accordingly, the Company believes the presentation of these non -GAAP financial measures, when used in conjunction with GAAP fina ncial measures, is a useful financial analysis tool that can assist investors in assessing the Company's operating performance and underlying prospects. This analysis should not be considered in isolation o r as a substitute for analysis of our results as reported under GAAP. This analysis, as well as the other information in this presentation, should be read in conjunction with the Company's financial statements and footnotes contained in the documents that the Company files with the U.S. Securities and Exchange Commission. The non-GAAP financial measures used by the Company in this presentation may be different from the methods used by other companies. The Company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures on a forward-looking basis because it is unable to predict with reasonable certainty the ultimate outcome of unusual gains and losses, potential future asset impairments and pending litigation without unreasonable effort. T hese items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For more information on the non -GAAP financial measures, please refer to the atta ched schedules or the table, "Reconciliation of GAAP Financial Measures to Non - GAAP Financial Measures (Unaudited)" and materials posted to the Company's website at investors.chemours.com.
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Second Quarter 2025 Highlights 3 Generated $1.6B in Net Sales and $253M in Adjusted EBITDA Continued strong execution of Chemours’ Pathway to Thrive three-year corporate strategy Announced a settlement with the State of New Jersey to comprehensively resolve all environmental claims including PFAS statewide Achieved 65% YoY Net Sales growth for Opteon Refrigerants in TSS, reflecting continued strong adoption Returned $13M in cash to shareholders in Q2; Q3 dividend approved
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Second Quarter 2025 Financial Summary 4 ($ in millions unless otherwise noted; excludes per share amounts) 1 Net (Loss) / Income attributable to The Chemours Company. 2 Non-GAAP measures, including Adjusted Net Income, Adjusted EPS and Adjusted EBITDA referred to throughout, principally exclude the impact of recent litigation settlements for legacy environmental matters and associated fees, in addition to other unallocated items. Please refer to the attached "GAAP Net (Loss) IncomeAttributable to Chemours to Adjusted Net Income and Adjusted EBITDA Reconciliation (Unaudited)” table. 3 Calculation based on diluted share count. 4 Adjusted EBITDA excludes net income attributable to noncontrolling interests, net interest expense, depreciation and amortization, and all remaining provision for income taxes from Adjusted Net Income. Please refer to the attached “GAAP Net Income (Loss) Attributable to Chemours to Adjusted Net Income and Adjusted EBITDA Reconciliation (Unaudited)” table. 5 As previously disclosed in the first quarter of 2025, certain prior period amounts have been revised to correct for certain immaterial errors as further described in our Quarterly Report on Form 10-Q for the three months ended June 30, 2025. 2Q25 2Q24 5 Y-o-Y ∆ 1Q25 Q-o-Q ∆ Net Sales $1,615 $1,554 $61 $1,368 $247 Net (Loss) / Income 1 ($381) $60 ($441) ($4) ($377) Adj. Net Income 2 $87 $58 $29 $19 $68 EPS 3 ($2.54) $0.39 ($2.93) ($0.03) ($2.51) Adj. EPS 2,3 $0.58 $0.38 $0.20 $0.13 $0.45 Adj. EBITDA 2,4 $253 $207 $46 $166 $87 Operating Cash Flow $93 ($620) $713 ($112) $205 Capex ($43) ($73) $30 ($84) $41 Free Cash Flow $50 ($693) $743 ($196) $246
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$207 $253 $14 $34 $7($9) 2Q24 Price Volume Cost/Other Currency 2Q25 5 ($ in millions) Price Impacts: $14 million due to higher pricing in TSS primarily driven by stronger Opteon Refrigerant blends aftermarket demand and strong pricing in APM, in connection with increased sales into high-value applications as well as solid sales execution for our SPS Capstone product line wind down, partially offset by lower pricing globally in TT Volume Impacts: $34 million primarily driven by increased volumes in TSS’s Opteon Refrigerant blends, partially offset by decreased volumes in APM Cost/Other: ($9) million primarily driven by higher input and operational costs in TT, lower fixed cost absorption in APM, and minor input cost increases in TSS, partially offset by lower Corporate Expenses Currency: $7 million primarily driven by favorable EUR currency in TT See reconciliation of Non-GAAP measures in the Appendix Adjusted EBITDA Bridge: 2Q25 versus 2Q24 5 Refer to footnote provided on the preceding slides. 5
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Quarterly Segment Summary 6 ($ in millions unless otherwise noted) 40% 31% 35% Net Sales 5 Adjusted EBITDA and Margin 5 (%) TSS APMTT APMTSS TT 12% 12% 7% 21% 13% 14% 5 Refer to footnote provided on the preceding slides. $533 $519 $597 2Q23 2Q24 2Q25 $707 $677 $657 2Q23 2Q24 2Q25 $394 $345 $346 2Q23 2Q24 2Q25 $214 $160 $207 2Q23 2Q24 2Q25 $87 $83 $47 2Q23 2Q24 2Q25 $81 $45 $50 2Q23 2Q24 2Q25
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$514 $553 ($43) ($13) $93 $2 1Q25 Cash Balance Operating Cash Flow Capex Cash to Shareholders Other 2Q25 Cash Balance $464 Unrestricted $502 Unrestricted Liquidity Position as of June 30, 2025 7 ($ in millions unless otherwise noted) $4.2B $3.7B 4.7x Gross Debt TTM Net Leverage 11 Net Debt 10 $1.5B 6 Total Liquidity 9 6 $50 Restricted $51 Restricted 7 6 Total cash balances include $50 million and $51 million of restricted cash and restricted cash equivalents on Chemours’ Balance Sheets as of March 31, 2025 and June 30, 2025, respectively. Restricted cash of $50 million at the end of thefirst quarter and $51 million at the end of the second quarter includes cash and cash equivalents held in escrow under the terms of the Memorandum of Understanding (MOU) related to potential future legacy liabilities. 7 Cash to shareholders reflects $13 million in dividends paid to shareholders during the second quarter of 2025. 8 Other primarily includes favorable FX impact on cash net of debt repayments. 9 Total liquidity is calculated as the sum of $502 million unrestricted cash and cash equivalents and $954 million of revolving credit capacity, net of outstanding letters of credit. Restricted cash and restricted cash equivalents totaling $51 million is not included in this calculation. The Company announced an amendment and extension to its credit agreement in May 2025. The amended credit facility extends commitments to 2030 with a capacity of up to $1 billion until October 2026, comprised of $780 million maturing on May 2, 2030 and $220 million on October 7, 2026. 10 Net Debt, which we also refer to herein as Total Debt Principal, Net, is calculated as gross debt less unrestricted cash and cash equivalents. 11 TTM Net Leverage reflects Total Debt Principal, Net at quarter-end divided by trailing twelve months of Adjusted EBITDA. 8
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Strategic Progress: Pathway to Thrive 8
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Our Corporate Strategy: “Pathway to Thrive” Pillars for Success Operational Excellence ❑ Manufacturing excellence as a basis for success ❑ Improved and standardized operating model for consistent execution ❑ Continuous improvement to adapt to changing markets Strengthening the Long Term ❑ Measurable progress on resolving legacy liabilities in the interest of stakeholders ❑ Responsible manufacturing practices ❑ Targeted policy efforts >$250M cost reduction from 2024 to 2027 Recognizing criticality of our chemistries PATHWAY TO THRIVE Balanced & Disciplined Capital Allocation To Create Shareholder Value Enabling Growth ❑ Investing smartly in selected growth projects ❑ Commercial effectiveness to drive sales growth ❑ Innovation and new product development Portfolio Management ❑ Holistic portfolio analysis focused on distinct value creation metrics ❑ Shift product mix to higher value applications in growing end markets ❑ Optimize asset footprint Driving shareholder value>5% Sales CAGR from 2024 to 2027 9
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Our Corporate Strategy: “Pathway to Thrive” Progress Achieved to Date Operational Excellence ✓ Notable progress against the $125M of run-rate savings by end of 2025 across all areas of the company ✓ Corpus Christi, TX capacity expansion to support low GWP regulatory transitions ahead of planned ramp ✓ Established new manufacturing & capital Center of Excellence (COE) to drive improved performance and spend diligence ✓ Announced Matthew Conti as new Chief Human Resources Officer (CHRO) Strengthening the Long Term ✓ Agreed to a proposed Judicial Consent Order with the State of New Jersey to resolve all environmental claims, including PFAS statewide ✓ Agreed to settlement agreement with Hoosick Falls, NY ✓ Drove advocacy for the importance of Chemours’ essential chemistry as a part of recent U.S. trade policy changes and evolving EU regulatory landscape ✓ U.S. Dept. of Defense recent report confirming PFAS-based applications are critical to U.S. national security PATHWAY TO THRIVE Balanced & Disciplined Capital Allocation To Create Shareholder Value Enabling Growth ✓ 65% YoY growth in Opteon Refrigerants, with advantaged market position to secure aftermarket share ✓ Announced new leader for TSS’s Liquid Cooling venture, paired with an announced strategic collaboration agreement with DataVolt to demonstrate & develop advanced liquid cooling solutions for data centers ✓ Advanced TiO₂ share gains in western markets* meeting customer demand, while experiencing business interruption Portfolio Management ✓ Progressed APM European asset review through announced exit of SPS Capstone business, to prioritize higher return businesses and strengthen Chemours’ overall portfolio ✓ Continued shift of product mix to higher value applications with a sequential increase in APM Performance Solutions with a sequential increase of ~14% in Q2 *Primarily includes North America, Europe and Brazil. 10
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11 Key Considerations Resolves all environmental claims, including those related to PFAS, across four current and former operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) and all statewide PFAS claims Chemours’ discounted share of settlement payments is ~$250 million, reflecting a 25-year payment time frame, excluding insurance recoveries 2025 Insurance proceeds MOU between companies provides $150* million to Chemours to be used to fund NJ settlement payments No out-of-pocket NJ settlement payments for Chemours expected through at least 2030 from combination of insurance proceeds (~$150* million) and existing escrow funds (~$50* million) The present value of payments remaining after 2030 by Chemours for the New Jersey settlement is approximately $80 million $16.5* million allocated to resolve AFFF/PFAS litigation unrelated to existing sites Continues cooperation between Companies to resolve legacy litigation matters under the framework of existing 2021 MOU cost sharing arrangement ➢ ➢ ➢ ➢ ➢ ➢ ➢ Strengthening the Long-Term: Resolving Legacy Liabilities Announced a Settlement with the State of New Jersey to Comprehensively Resolve Environmental Claims Including PF AS *Amounts are presented on an undiscounted basis. Over the first 5 years, Chemours is obligated to fund $200 million of gross settlement payments, of which $150 million will be funded by the insurance proceeds MOU and we expect the remaining $50 million to be funded from existing restricted cash held by Chemours.
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Strengthening the Long-Term: Resolving Legacy Liabilities Continued Progress 2017: 1st Ohio MDL Settlement ($670.7M) January 2021: MOU with Corteva, EID, DuPont and Chemours on PFAS Liabilities: Created $4B cost sharing arrangement 2nd Ohio MDL Settlement ($83M) February 2019: Consent Order with NCDEQ for Fayetteville Works July 2021: Delaware NRD Settlement ($50M + $25M supplement) June 2023: U.S. Public Water System Class Action Settlement ($1.185B) Reached Note: Finalized in Q2 2024 December 2024: 3rd Ohio MDL Settlement with Closure of MDL ($58.5M) November 2023: Ohio NRD Settlement Reached ($110M) Priorities for Resolving Remaining Legacy Matters Opt out water system claims that involve costs to abate or meet regulatory requirements Governmental-related claims, including regulatory agencies and State AGs (may arise in both regulatory process and litigation proceedings (state NRD matters)) Personal injury claims Property-related claims, primarily involving loss of value Qualified Spend Totaling ~$2.6B to Date under the 2021 MOU • NJ settlement captured on an NPV basis under the 2021 MOU cost sharing arrangement • Qualified spend to date does not currently reflect anticipated insurance proceeds to be applied against the settlement; total potential insurance proceeds, to the three companies, to be recovered from the noticed policy limits of up to $750 million 1 2 3 4 12 July/August 2025: Hoosick Falls Settlement ($27M) NJ Settlement (~$500M NPV) Insurance Proceeds MOU
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Q3 and Full Year Guidance 13
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$253 2Q25 Results TSS TT APM Other Segment Corporate Expense 3Q25 Outlook $1,615 2Q25 Results TSS TT APM Other Segment 3Q25 Outlook Third Quarter 2025 Guidance Sequential Business Outlook: 14 Consolidated o Net Sales: Expected to decrease 4-6% sequentially o Adjusted EBITDA: Expected to range between $175 million and $195 million o Corporate Expenses as an offset to Adjusted EBITDA: Expected to decrease approximately 5% sequentially o Capital Expenditures: Approximately $50 million o Free Cash Flow Conversion: Expected to range 60-80% TSS o Net Sales: Expected to decrease in the mid single-digits (%) sequentially, driven by overall traditional refrigerant seasonality concentrated in Freon Refrigerants o Adjusted EBITDA: Expected to decrease in the low teens (%) sequentially, primarily driven by the referenced seasonality as well as overall product mix TT o Net Sales: Expected to decrease by low single-digits (%) sequentially, driven by seasonality and regional sales mix, with volumes expected to remain stable o Adjusted EBITDA: Expected to decrease in the low-teens (%) sequentially due to lower sales paired with certain operational disruptions. Costs associated with these operational issues are anticipated to approximate $15 million in the third quarter APM o Net Sales: Expected to decrease in the mid-teens (%) sequentially due to production constraints associated with an outage at our Washington Works site in the U.S. o Adjusted EBITDA: Expected to approximate $15 million in the third quarter, considering lower sales as well as additional costs from the referenced site outage, which are anticipated to approximate $20 million 3Q25 Net Sales and Adjusted EBITDA Outlook Net Sales Adj. EBITDA Q3 Adj. EBITDA expected between $175-$195 million Q3 Sales expected to decline 4-6% sequentially ($ in millions)
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Full Year 2025 Outlook12 Key Business Factors and Assumptions High end of Adjusted EBITDA range anticipates an improving demand environment for TT and TSS, paired with operational impacts from the Q3 outage to APM being more limited than expected Low end of Adjusted EBITDA range anticipates a weaker demand environment for TT and TSS, with operational impacts from the Q3 outage for APM being more impactful than originally expected Annual guidance contemplates Q3 operational disruptions in TT and outage impacts in APM of $35 million, collectively, to be resolved in the 4th quarter Net leverage ratio is anticipated to improve throughout 2025 See reconciliation of Non-GAAP measures in the Appendix 12 For information on our outlooked non-GAAP measures, please refer to the attached “2025 Estimated GAAP Net Income Attributable to Chemours to Estimated Adjusted Net Income, Estimated Adjusted EBITDA” table. Capital Allocation Approach Continue to provide shareholder returns through dividends reflecting balanced and disciplined capital allocation policy under Pathway to Thrive Enables balance sheet flexibility to drive long-term shareholder value Declared quarterly cash dividend for Q3 of $0.0875 per share Free Cash Flow Free Cash Flow conversion expected to be solidly positive for FY25, with Free Cash Flow conversion in 2H 2025 expected to be in the range of 60% to 80% Consistent with business seasonality, anticipate working capital unwind Capital spend focused on critical areas, with spend concentrated later in 2025 15 CapEx ~$250M Adjusted EBITDA $775M - $825M Net Sales $5.9B - $6.0B
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Appendix
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$519 $597 $20 $58 2Q24 Price/Currency Volume 2Q25 Q2 25 % total refrigerants: Freon = 25% Opteon = 75% Q2 24 % total refrigerants: Freon = 43% Opteon = 57% TSS Segment Net Sales and Adjusted EBITDA (Unaudited)5 $160 $207 2Q24 Price/Currency Volume Cost/Other 2Q25 ($ in millions) % of total Net Sales ($ in millions) 17 Opteon Refrigerants 44% Freon Refrigerants 33% FP&O 23% Opteon Refrigerants 63% Freon Refrigerants 21% FP&O 16% Net Sales: The 11% year-over-year volume increase was driven by stronger demand for Opteon Refrigerant blends in connection with the stationary air conditioning (AC) transition under the U.S. AIM Act, partially offset by lower volumes for Freon Refrigerant products under this regulatory transition. The 4% year-over-year increase in pricing was primarily attributed to stronger Opteon Refrigerant aftermarket demand. Adjusted EBITDA: The increase was primarily driven by volume and price increases due to increased demand for Opteon Refrigerant blends products in connection with the stationary AC regulatory transition as referenced above, partially offset by minor input cost increases. 5 Refer to footnote provided on the preceding slides.
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TT Segment Net Sales and Adjusted EBITDA (Unaudited)5 18 $677 $657 ($21) $1 2Q24 Price/Currency Volume 2Q25 $83 $47 2Q24 Price/Currency Volume Cost/Other 2Q25 ($ in millions) Net Sales: The year-over-year decrease was primarily driven by a 4% decrease in price globally, partially offset by favorable currency movements adding a slight 1% tailwind. Volumes remained generally flat overall, with stronger demand in North America and Europe offsetting lower volumes in other non-western markets. Adjusted EBITDA: The decline was primarily driven by the decrease in price, partially offset by favorable currency movements. The TT operations were disrupted by a now resolved external rail line service interruption impacting feedstock mix and a gap in operational discipline in a low demand environment. As a result of improved agility under its manufacturing COE, these disruptions did not impact the Company’s ability to supply its customers. However, in order to fulfill customer orders, due to this rail line disruption, the Company elected to consume higher-cost ore feedstock, which resulted in incremental costs of $15 million in the second quarter. The net costs associated with other operational disruptions were $8 million for the quarter. ($ in millions) 5 Refer to footnote provided on the preceding slides.
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APM Segment Net Sales and Adjusted EBITDA (Unaudited)5 19 $345 $346 $22 ($21) 2Q24 Price/Currency Volume 2Q25 $45 $50 2Q24 Price/Currency Volume Cost/Other 2Q25 Advanced Materials 61% Performance Solutions 39% Net Sales: The 6% year-over-year increase in price was primarily driven by increased sales into high-value applications as well as pricing opportunities associated with the SPS Capstone product exit. This was offset by a 6% year-over-year decrease in volume primarily driven by weakness in cyclical end markets impacting Advanced Materials and products serving hydrogen markets under Performance Solutions. Currency impact remained flat. Adjusted EBITDA: The increase was primarily due to the increase in price as referenced above, partially offset by lower fixed cost absorption due to lower overall volumes. ($ in millions) % of total Net Sales ($ in millions) Advanced Materials 62% Performance Solutions 38% 5 Refer to footnote provided on the preceding slides.
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Segment Net Sales (Unaudited)5 20 5 Refer to footnote provided on the preceding slides. ($ in millions) 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net sales by product group and segment OpteonTM refrigerants 143$ 182$ 150$ 122$ 195$ 200$ 170$ 145$ 200$ 227$ 205$ 178$ 279$ 375$ Freon TM refrigerants 197 241 177 135 185 226 170 141 173 173 146 124 97 123 Foam, propellants, and other 91 101 98 65 114 107 104 94 81 119 117 88 90 99 Total Thermal & Specialized Solutions 431 524 425 322 494 533 444 380 454 519 468 390 466 597 Titanium dioxide and other minerals 928 968 877 606 632 707 690 651 591 677 672 632 597 657 Total Titanium Technologies 928 968 877 606 632 707 690 651 591 677 672 632 597 657 Advanced materials 268 284 322 266 249 254 220 192 190 212 214 191 178 214 Performance solutions 120 120 133 120 144 140 129 134 113 133 140 133 116 132 Total Advanced Performance Materials 388 404 455 386 393 394 349 326 303 345 354 324 294 346 Performance chemicals and intermediates 26 28 33 30 30 26 18 11 14 13 14 13 11 15 Total Other Non-Reportable Segment 26 28 33 30 30 26 18 11 14 13 14 13 11 15 Total net sales 1,773$ 1,924$ 1,790$ 1,344$ 1,549$ 1,660$ 1,501$ 1,368$ 1,362$ 1,554$ 1,508$ 1,359$ 1,368$ 1,615$ 2022 2023 2024
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Segment Net Sales by Region (Unaudited)5 21 5 Refer to footnote provided on the preceding slides. 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net sales by geographic region North America: Thermal & Specialized Solutions 292$ 319$ 258$ 207$ 271$ 308$ 256$ 194$ 233$ 336$ Titanium Technologies 262 277 273 242 246 274 270 236 267 282 Advanced Performance Materials 156 150 131 119 124 133 130 112 111 125 Other Non-Reportable Segment 22 17 11 9 9 10 9 7 8 10 Total North America 732 763 673 577 650 725 665 549 619 753 Asia Pacific: Thermal & Specialized Solutions 53 56 42 41 39 53 55 53 53 59 Titanium Technologies 147 180 186 191 147 178 171 161 105 125 Advanced Performance Materials 147 145 133 129 105 127 138 148 115 147 Other Non-Reportable Segment 2 4 3 3 3 2 3 3 2 3 Total Asia Pacific 349 385 364 364 294 360 367 365 275 334 Europe, the Middle East, and Africa: Thermal & Specialized Solutions 100 106 85 78 92 103 98 69 98 112 Titanium Technologies 133 147 123 116 124 130 126 131 142 156 Advanced Performance Materials 76 85 70 66 63 72 70 53 56 60 Other Non-Reportable Segment 5 4 3 — 2 1 2 2 1 2 Total Europe, the Middle East, and Africa 314 342 281 260 281 306 296 255 297 330 Latin America: Thermal & Specialized Solutions 49 52 59 54 52 55 59 74 82 90 Titanium Technologies 90 103 108 102 74 95 105 104 83 94 Advanced Performance Materials 14 14 15 11 11 13 16 11 12 14 Other Non-Reportable Segment 1 1 1 — — — — 1 — — Total Latin America 154 170 183 167 137 163 180 190 177 198 Total net sales 1,549$ 1,660$ 1,501$ 1,368$ 1,362$ 1,554$ 1,508$ 1,359$ 1,368$ 1,615$ 2023 2024
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Actual and Projected Disruption & Investment Costs (Unaudited) 22
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Segment Net Sales and Adjusted EBITDA (Unaudited)5 23 5 Refer to footnote provided on the preceding slides.
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GAAP Net (Loss) Income Attributable to Chemours to Adjusted Net Income and Adjusted EBITDA Reconciliation(Unaudited) GAAP Net Leverage Ratio to Non-GAAP Net Leverage Ratio5 (Page 1/2) 24 5 Refer to footnote provided on the preceding slides. ($ in millions except per share amounts) $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ amounts (Loss) income before income taxes (261)$ 69$ —$ (292)$ 79$ Net (loss) income attributable to Chemours (381)$ (2.54)$ 60$ 0.39$ (4)$ (0.03)$ (427)$ 106$ Non-operating pension and other post-retirement benefit income (2) (0.01) (2) (0.01) (2) (0.01) (5) (3) Exchange losses, net 4 0.03 7 0.05 3 0.02 10 32 Restructuring, asset-related, and other charges 18 0.12 3 0.02 32 0.21 100 145 Goodwill impairment charge — — — — — — 56 — Loss on extinguishment of debt — — — — — — 1 1 Gain on sales of assets and businesses, net — — — — (1) (0.01) (1) (113) Transaction costs 2 0.01 — — — — 4 16 Qualified spend recovery (13) (0.09) (8) (0.05) (9) (0.06) (33) (37) Litigation-related charges 299 1.99 (1) (0.01) — — 302 112 Environmental charges 60 0.40 — — — — 75 8 Adjustments made to income taxes 171 1.14 (4) (0.03) — — 178 (17) (Benefit from) provision for income taxes relating to reconciling items (71) (0.47) 3 0.02 — — (83) (38) Adjusted Net Income 87$ 0.58$ 58$ 0.38$ 19$ 0.13$ 177$ 212$ Net income attributable to non-controlling interests 1 — — 1 — Interest expense, net 67 66 66 268 247 Depreciation and amortization 79 74 77 304 297 All remaining provision for income taxes 19 9 4 39 28 Adjusted EBITDA 253$ 207$ 166$ 789$ 784$ 2025 2024 2025 2025 2024 June 30, March 31, June 30, Three Months Ended Three Months Ended Twelve Months Ended
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25 GAAP Net (Loss) Income Attributable to Chemours to Adjusted Net Income and Adjusted EBITDA Reconciliation(Unaudited) GAAP Net Leverage Ratio to Non-GAAP Net Leverage Ratio5 (Page 2/2) 5 Refer to footnote provided on the preceding slides. ($ in millions except per share amounts) $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ amounts Adjusted EBITDA 253$ 207$ 166$ 789$ 784$ Total debt principal 4,177$ 4,028$ Less: Cash and cash equivalents (502) (604) Total debt principal, net 3,675$ 3,424$ Net Leverage Ratio (calculated using GAAP earnings) (12.6)x 43.3x Net Leverage Ratio (calculated using Non-GAAP earnings) 4.7x 4.4x Weighted-average number of common shares outstanding - basic 150,238,691 149,413,167 149,918,386 Weighted-average number of common shares outstanding - diluted 150,506,761 150,123,060 150,409,580 Basic (loss) earnings per share of common stock (2) (2.54)$ 0.40$ (0.03)$ Diluted (loss) earnings per share of common stock (1) (2) (2.54)$ 0.39$ (0.03)$ Adjusted basic earnings per share of common stock (2) 0.58$ 0.39$ 0.13$ Adjusted diluted earnings per share of common stock (1) (2) 0.58$ 0.38$ 0.13$ June 30, March 31, June 30, Three Months Ended Three Months Ended Twelve Months Ended 2024 (1) In periods where the Company incurs a net loss, the impact of potentially dilutive securities is excluded from the calculation of EPS under U.S. GAAP, as their inclusion would have an anti-dilutive effect. As such, with respect to the U.S. GAAP measure of diluted EPS, the impact of potentially dilutive securities is excluded from our calculation for the three months ended June 30, 2025 and March 31, 2025. With respect to the non-GAAP measure of adjusted diluted EPS, the impact of potentially dilutive securities is included in our calculation for the three months ended June 30, 2025 and March 31, 2025 as Adjusted Net Income was in a net income position. (2) Figures may not recalculate exactly due to rounding. Basic and diluted (loss) earnings per share are calculated based on unrounded numbers. * Note: $ per share columns may not sum due to rounding. 2025 2024 2025 2025
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26 GAAP Cash Flow Provided by Operating Activities to Free Cash Flows and Free Cash Flow Conversion Reconciliation ($ in millions) March 31, 2025 2024 2025 2025 2024 Cash flows provided by (used for) operating activities (1) 93$ (620)$ (112)$ (19)$ (910)$ Less: Purchases of property, plant, and equipment (43) (73) (84) (127) (175) Free Cash Flows 50$ (693)$ (196)$ (146)$ (1,085)$ Adjusted EBITDA 253 207 166 419 398 Free Cash Flow Conversion 20% (335)% (118)% (35)% (273)% (1) For the six months ended June 30, 2024, operating cash outflows includes the release of the $606 million of cash and cash equivalents deposited in the qualified settlement fund per the terms of the U.S. public water system settlement agreement. Three Months Ended Six Months Ended June 30, June 30,
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27 2025 Estimated GAAP Net Income Attributable to Chemours to Estimated Adjusted Net Income, Estimated Adjusted EBITDA(*) (In millions except per share amounts) Low High Net loss attributable to Chemours (336)$ (300)$ Restructuring, transaction, and other costs, net (1) 492 492 Adjusted Net Income 156 192 Interest expense, net 272 272 Depreciation and amortization 313 313 All remaining provision for income taxes 34 48 Adjusted EBITDA 775$ 825$ (*) The Company ’s estimates reflect its current v isibility and ex pectations based on market factors, such as currency mov ements, macro-economic factors, and end-market demand. Actual results could differ materially from these current estimates. (Estimated) Year Ending December 31, 2025 (1) Restructuring, transaction, and other costs, net includes the net benefit from income tax es relating to reconciling items and adjustments made to income tax es for the remov al of certain discrete income tax impacts.
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