Slides
Page 1
THE CHEMOURS COMP ANY Q4 & FULL YEAR 2025 EARNINGS PRESENT A TION February 20, 2026
Page 2
Chemours - Internal Use Only This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 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 identify "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 first quarter of 2026, the full year 2026 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 inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, our ability to maintain an effective internal control over financial reporting and disclosure 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 that 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 plans, 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 products 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 disruptions 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 Annual Report on Form 10-K for the year ended December 31, 2025. Chemours assumes no obligation to revise or 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 presentation, 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 supplemental 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 financial 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 liquidity 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 financial 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 or 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 certain 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. These 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 attached 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. Safe Harbor Statement and Other Matters 2
Page 3
Fourth Quarter & Full Year 2025 Highlights Generated $1.3B in Net Sales and $128M in Adjusted EBITDA in 4Q25, driving Net Sales of $5.8B and Adjusted EBITDA of $742M for the year Established 2026 guidance with earnings growth across each segment and greater than 25% Free Cash Flow Conversion Announced the sale of the former Kuan Yin TiO2 site on January 15, 2026, for $360 million in gross proceeds, approximately $300 million, net Achieved 37% 4Q25 and 56% full year 2025 YoY Net Sales growth for Opteon Refrigerants in TSS, reflecting continued strong adoption Implemented a global TiO2 price increase which became effective December 1, 2025 3
Page 4
Chemours - Internal Use Only Full Year 2025 Financial Summary ($ 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 Certain prior period amounts have been revised to correct for certain immaterial errors will be further described in our Annual Report on Form 10-K for the year ended December 31, 2025. 6 2024 Cash Flow included $606 million of restricted cash and cash equivalents related to the US Public Water System Class Action Suit Settlement FY25 FY24 5 Y-o-Y ∆ Net Sales $5,808 $5,782 $26 Net (Loss) / Income 1 ($386) $69 ($455) Adj. Net Income 2 $143 $179 ($36) EPS 3 ($2.57) $0.46 ($3.03) Adj. EPS 2,3 $0.95 $1.19 ($0.24) Adj. EBITDA 2,4 $742 $768 ($26) Operating Cash Flow 6 $264 ($633) $897 Capex ($213) ($360) ($147) Free Cash Flow $51 ($993) $1,044 FCF Conversion 7% (129)% 136% 4
Page 5
Chemours - Internal Use Only Fourth Quarter 2025 Financial Summary ($ in millions unless otherwise noted; excludes per share amounts) 4Q25 4Q24 5 Y-o-Y ∆ 3Q255 Q-o-Q ∆ Net Sales $1,329 $1,359 ($30) $1,495 ($166) Net (Loss) / Income1 ($47) ($11) ($36) $46 ($93) Adj. Net Income 2 $7 $14 ($7) $26 ($19) EPS 3 ($0.31) ($0.08) ($0.39) $0.31 ($0.62) Adj. EPS 2,3 $0.05 $0.09 ($0.04) $0.17 ($0.12) Adj. EBITDA 2,4 $128 $168 ($40) $189 ($61) Operating Cash Flow $137 $138 ($1) $146 ($9) Capex ($45) ($109) ($64) ($41) $4 Free Cash Flow $92 $29 $63 $105 ($13) FCF Conversion 72% 17% 55% 56% 16% 5 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 Certain prior period amounts have been revised to correct for certain immaterial errors will be further described in our Year End 2025 10-K and slide 28 “Revisions to Previously Presented Segment Adjusted EBITDA, Adjusted Net Income Consolidated Adjusted EBITDA” to this Earnings Presentation.
Page 6
Chemours - Internal Use Only Adjusted EBITDA Bridge: FY25 versus FY24 $768 $742 ($18) $67 $22($96) FY24 Price Volume Cost/Other Currency FY25 ($ in millions) Price Impacts: ($18) million driven by lower TiO2 pigment (TT) pricing globally partially offset by higher pricing in TSS primarily driven by stronger Opteon Refrigerant blends aftermarket demand and strong pricing in APM in connection with strong sales execution for our SPS Capstone product line closure in the third quarter Volume Impacts: $67 million driven by increased volumes in TSS’s Opteon Refrigerant blends associated with the AIM Act stationary transition, slightly offset by lower volumes in APM tied to the recent closure of APM's Advanced Materials SPS Capstone product line in the third quarter Cost/Other: ($96) million driven by lower cost absorption tied to lower production levels concentrated in APM and TT, partially offset by global net cost reduction efforts6 Currency: $22 million primarily driven by favorable currency dynamics within the TT and TSS business units 5 Refer to footnote provided on the preceding slides. 6 Excluding litigation settlements recognized in the years ended December 31, 2024 and December 31, 2025 See reconciliation of Non-GAAP measures in the Appendix 6 5
Page 7
Chemours - Internal Use Only Adjusted EBITDA Bridge: 4Q25 versus 4Q24 $168 $128 $13 ($10) $13($56) 4Q24 Price Volume Cost/Other Currency 4Q25 ($ in millions) Price Impacts: $13 million due to higher pricing in TSS primarily driven by stronger Opteon Refrigerant blends mix paired with higher pricing associated with opportunistic Freon Refrigerant sales and higher pricing in APM, partially offset by lower TiO2 pigment pricing (TT) globally Volume Impacts: ($10) million primarily driven by decreased volumes in TT and APM related to muted demand environments in these segments, partially offset by increased TSS volume Cost/Other: ($56) million primarily driven by lower cost absorption tied to lower production levels concentrated in APM and TT, a non-cash inventory charge in APM, partially offset by global net cost reduction efforts6 Currency: $13 million primarily driven by favorable currency dynamics within the TT and TSS business units 5 Refer to footnote provided on the preceding slides. See reconciliation of Non-GAAP measures in the Appendix 7 5
Page 8
Chemours - Internal Use Only $683 $571 $670 FY23 FY24 FY25 Full Year Segment Summary ($ in millions unless otherwise noted) 37% 31% 32% Net Sales Adjusted EBITDA and Margin 5 (%) $1,851 $1,831 $2,066 FY23 FY24 FY25 TSS TSS 11% 12% 6% 19% 12% 9% 5 Refer to footnote provided on the preceding slides. TT $2,680 $2,572 $2,429 FY23 FY24 FY25 APM $1,462 $1,326 $1,263 FY23 FY24 FY25 TT $290 $301 $145 FY23 FY24 FY25 APM $273 $160 $108 FY23 FY24 FY25 8
Page 9
Chemours - Internal Use Only $122 $122 $128 4Q23 4Q24 4Q25 Quarterly Segment Summary ($ in millions unless otherwise noted) 32% 31% 29% Net Sales Adjusted EBITDA and Margin 5 (%) $380 $390 $444 4Q23 4Q24 4Q25 TSS TSS 10% 11% 4% 12% 15% 4% 5 Refer to footnote provided on the preceding slides. TT $651 $632 $561 4Q23 4Q24 4Q25 APM $326 $324 $312 4Q23 4Q24 4Q25 TT $64 $70 $23 4Q23 4Q24 4Q25 APM $40 $47 $12 4Q23 4Q24 4Q25 9
Page 10
Chemours - Internal Use Only $613 Unrestricted $670 Unrestricted $52 Restricted $137 ($45) ($15) ($18) $54 Restricted 3Q25 Cash Balance Operating Cash Flows Capex Cash to Shareholders Other 4Q25 Cash Balance Liquidity Position as of December 31, 2025 ($ in millions unless otherwise noted) 7 $4.2B $3.5B 4.7x Gross Debt TTM Net Leverage 12 Net Debt 11 $1.6BTotal Liquidity 10 78 7 Total cash balances include $54 million and $52 million of restricted cash and restricted cash equivalents on Chemours’ Balance Sheets as of December 31, 2025 and September 30, 2025, respectively. Restricted cash of $52 million at the end of thethird quarter and $54 million at the end of the fourth quarter includes cash and cash equivalents held in escrow under the terms of the Memorandum of Understanding (MOU) related to potential future legacy liabilities. 8 Cash to shareholders reflects approximately $15 million in dividends paid to shareholders during the fourth quarter of 2025. 9 Other primarily includes FX impacts on cash net of debt repayments, partially offset by an initial earnest money deposit from the sale agreement for the remaining land at the former Kuan Yin titanium dioxide site. 10 Total liquidity is calculated as the sum of $670 million unrestricted cash and cash equivalents and $955 million of revolving credit capacity, net of outstanding letters of credit. Restricted cash and restricted cash equivalents totaling $52 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. 11 Net Debt, which we also refer to herein as Total Debt Principal, Net, is calculated as gross debt less unrestricted cash and cash equivalents. 12 TTM Net Leverage reflects Total Debt Principal, Net at quarter-end divided by trailing twelve months of Adjusted EBITDA. 9 10 $665 $724
Page 11
STRA TEGIC PROGRESS P A THWA Y TO THRIVE
Page 12
PATHWAY TO THRIVE Balanced & Disciplined Capital Allocation To Create Shareholder Value Expanding Free Cash Flow Conversion & Long-Term Objective of Net Leverage Below 3x Across Economic Cycles 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 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 >$250M cost reduction from 2024 to 2027 Recognizing criticality of our chemistriesDriving shareholder value >5% Sales CAGR from 2024 to 2027 12 Our Strategy
Page 13
Chemours - Internal Use Only Progress Achieved to Date PATHWAY TO THRIVE Balanced & Disciplined Capital Allocation To Create Shareholder Value Operational Excellence ✓ Delivered a minimum of $125 million of cost savings within Chemours’ control during 2025 across all areas of the company ✓ Advanced the Chemours Business System rollout, embedding Lean principles supported by our Manufacturing COE to drive continuous improvement in safety, quality, and reliability ✓ Corpus Christi, TX capacity expansion to support low GWP regulatory transitions for stationary AC equipment under the U.S. AIM Act 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 Results of key advocacy efforts: ✓ EU ITRE committee commissioned study highlights critical role of fluoropolymers and f-gases1 ✓ EPA starts priority review for new chemicals supporting data center projects; including liquid cooling2 Enabling Growth ✓ Continued double-digit growth with 37% YoY quarterly growth in Opteon Refrigerants, with an advantaged market position to secure aftermarket share ✓ Implemented global TiO2 pricing increase reflecting Chemours’ value in reliability and sustainability ✓ Grew APM Performance Solutions sales through key data center end markets ✓ Successful qualification of Chemours’ two-phase immersion cooling fluid by Samsung Electronics Portfolio Management ✓ Progressed APM European asset review, through the exit of the Villers-St. Paul site and the wind down of SPS Capstone business at the end of the Q3, driving opportunistic sales in 2025 ✓ Agreed to sell former Kuan Yin TiO2 site for gross proceeds of $360 million, ~$300 million, net ✓ Shifted aspects of TT’s mining operations to prioritize cash flow generation 13 1 The Per- and polyfluoroalkyl substances and their role as enablers in the competitiveness of European industry 2 EPA Prioritizes Review of New Chemicals Used in Data Center Projects, Supporting American Manufacturing and Technological Advancement
Page 14
Q1 AND FULL YEAR GUIDANCE
Page 15
First Quarter and Full Year 2026 Guidance Sequential Business Outlook: Consolidated o Net Sales: Expected to increase in the 3 to 5% range sequentially o Adjusted EBITDA: Expected to range between $120 million and $150 million o Corporate Expenses: Expected to range between $45 million and $50 million o Capital Expenditures: Expected to be in the range of $50 million o Free Cash Flow Conversion: Reflecting a use of cash not to exceed $100 million TSS o Net Sales: Expected to increase sequentially in the mid-twenty to thirty percentage range, driven by more favorable seasonality and an expected 30 to 40% increase in Opteon Refrigerants sales o Adjusted EBITDA: Expected to approximate $170 million to $185 million, primarily driven by the referenced seasonality and Opteon Refrigerants strength TT o Net Sales: Expected to decrease in the low-to-mid-single digits (%) sequentially, driven by a 60% decline in minerals sales tied to sales timing and recent changes in mining efforts, as well as increased TiO2 pigment volumes in western markets paired with the global pricing efforts highlighted last quarter, more than offset by weaker seasonal volumes in non-western markets o Adjusted EBITDA: Expected to be between breakeven and $5 million driven by minerals sales timing paired with changes in production levels and ore mix approximating $17 million in net impact APM o Net Sales: Expected to decrease by high-teens digits (%) sequentially driven by market weakness in key end markets, customer timing, and an outage as the Washington Works site o Adjusted EBITDA: Expected to be between breakeven and $5 million, driven by the outage at the Washington Works site paired with cold-weather impacts, which is anticipated to approximate $20 million to $25 million, the majority of which is related to constrained sales from the outage CapEx $275M - $325M Adjusted EBITDA $800M - $900M Net Sales Growth 3 - 5% Full Year 2026 Outlook Free Cash Flow Conversion 25%+ First Quarter 2026 Outlook 15
Page 16
APPENDIX 16
Page 17
Chemours - Internal Use Only OpteonTM Refrigerants 46% OpteonTM Refrigerants 55% FreonTM Refrigerants 32% $44 $10 FreonTM Refrigerants 25% FP&O 23% FP&O 20% 4Q24 Price/Currency Volume 4Q25 17 TSS Segment Net Sales and Adjusted EBITDA (Unaudited)5 $122 $128 4Q24 Price/Currency Volume Cost/Other 4Q25 ($ in millions) % of total Net Sales ($ in millions) Net Sales: The 14% year-over-year increase was driven by sustained robust demand for Opteon TM Refrigerant blends associated with the U.S. AIM Act stationary AC transition which more than compensated for lower Freon TM Refrigerant volumes. Increase in pricing was driven primarily by a favorable Opteon TM blends product mix and opportunistic sales for FreonTM Refrigerants. Adjusted EBITDA: The increase reflects higher pricing associated with the referenced OpteonTM blends mix in pricing, paired with opportunistic sales for FreonTM Refrigerant sales, partially offset by higher input costs associated with R32 in the quarter. 4Q25 % total refrigerants: Freon = 32% Opteon = 68% 4Q24 % total refrigerants: Freon = 41% Opteon = 59% $390 $444 5 Refer to footnote provided on the preceding slides.
Page 18
Chemours - Internal Use Only TiO2 95% TiO2 95% Minerals 5% $(28) $(43) Minerals 5% 4Q24 Price/Currency Volume 4Q25 18 TT Segment Net Sales and Adjusted EBITDA (Unaudited)5 $70 $23 4Q24 Price/Currency Volume Cost/Other 4Q25 ($ in millions) Net Sales: The decrease was driven by year-over-year lower TiO2 pigment pricing and volumes that were paired with lower minerals sales. The decrease in TiO2 pigment pricing was mostly concentrated in non-western markets, while pricing declines in protected western markets were less pronounced. Adjusted EBITDA: The decline was primarily driven by referenced pricing trends combined with lower cost absorption tied to lower production levels. ($ in millions) $632 $561 5 Refer to footnote provided on the preceding slides.
Page 19
Chemours - Internal Use Only $47 $12 4Q24 Price/Currency Volume Cost/Other 4Q25 • Non-cash inventory charges • Lower utilization levels • Idling costs Advanced Materials 59% Advanced Materials 55% Performance Solutions 41% $15 ($27) Performance Solutions 45% 4Q24 Price/Currency Volume 4Q25 19 APM Segment Net Sales and Adjusted EBITDA (Unaudited)5 Net Sales: 4% decrease compared to the prior-year quarter. An 8% decrease in volume was partially offset by a 4% increase in price. The decrease in volume was driven by the recent closure of APM's Advanced Materials SPS Capstone TM line, completed in the third quarter. Adjusted EBITDA: The decrease was primarily driven by short-term market weakness and a decision to prioritize cash generation in the business, leading to a non-cash inventory charge of approximately $17 million, a small idling charge, and approximately $10 million in product sales at a less favorable mix that were intended to reduce inventory and promote cash flow. ($ in millions) % of total Net Sales ($ in millions) $324 $312 5 Refer to footnote provided on the preceding slides.
Page 20
Chemours - Internal Use Only 20 Segment Net Sales (Unaudited)5 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net sales by product group and segment OpteonTM refrigerants 195$ 200$ 170$ 145$ 200$ 227$ 205$ 178$ 279$ 375$ 368$ 243$ FreonTM refrigerants 185 226 170 141 173 173 146 124 97 123 98 113 Foam, propellants, and other 114 107 104 94 81 119 117 88 90 99 94 88 Total Thermal & Specialized Solutions 494 533 444 380 454 519 468 390 466 597 560 444 Titanium Dioxide 610 683 664 621 562 643 642 598 575 629 591 534 Minerals & Other 22 24 26 30 30 33 30 34 22 28 21 27 Total Titanium Technologies 632 707 690 651 592 676 672 632 597 657 612 561 Advanced materials 249 254 220 192 190 212 214 191 178 214 190 172 Performance solutions 144 140 129 134 113 133 140 133 116 132 121 141 Total Advanced Performance Materials 393 394 349 326 303 345 354 324 294 346 311 312 Performance chemicals and intermediates 30 26 18 11 14 13 14 13 11 15 12 12 Total Other Segment 30 26 18 11 14 13 14 13 11 15 12 12 Total net sales 1,549$ 1,660$ 1,501$ 1,368$ 1,363$ 1,553$ 1,508$ 1,359$ 1,368$ 1,615$ 1,495$ 1,329$ 2023 2024 5 Refer to footnote provided on the preceding slides.
Page 21
Chemours - Internal Use Only 21 Segment Net Sales by Region (Unaudited)5 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net sales by geographic region North America: Thermal & Specialized Solutions 292$ 319$ 258$ 207$ 271$ 308$ 256$ 194$ 233$ 336$ 316$ 241$ Titanium Technologies 262 277 273 242 246 274 270 236 267 282 252 221 Advanced Performance Materials 156 150 131 119 124 133 130 112 111 125 110 131 Other Segment 22 17 11 9 9 10 9 7 8 10 7 7 Total North America 732 763 673 577 650 725 665 549 619 753 685 599 Asia Pacific: Thermal & Specialized Solutions 53 56 42 41 39 53 55 53 53 59 69 53 Titanium Technologies 147 180 186 191 147 178 171 161 105 125 122 114 Advanced Performance Materials 147 145 133 129 105 127 138 148 115 147 138 132 Other Segment 2 4 3 3 3 2 3 3 2 3 3 3 Total Asia Pacific 349 385 364 364 294 360 367 365 275 334 332 301 Europe, the Middle East, and Africa: Thermal & Specialized Solutions 100 106 85 78 92 103 98 69 98 112 87 84 Titanium Technologies 133 147 123 116 124 130 126 131 142 156 141 128 Advanced Performance Materials 76 85 70 66 63 72 70 53 56 60 52 40 Other Segment 5 4 3 — 2 1 2 2 1 2 2 2 Total Europe, the Middle East, and Africa 314 342 281 260 281 306 296 255 297 330 282 254 Latin America (1): Thermal & Specialized Solutions 49 52 59 54 52 55 59 74 82 90 88 66 Titanium Technologies 90 103 108 102 74 95 105 104 83 94 97 99 Advanced Performance Materials 14 14 15 11 11 13 16 11 12 14 11 10 Other Segment 1 1 1 — — — — 1 — — — — Total Latin America 154 170 183 167 137 163 180 190 177 198 196 175 Total net sales 1,549$ 1,660$ 1,501$ 1,368$ 1,362$ 1,554$ 1,508$ 1,359$ 1,368$ 1,615$ 1,495$ 1,329$ 2023 2024 1 LATAM includes Mexico. 5 Refer to footnote provided on the preceding slides.
Page 22
Chemours - Internal Use Only 22 Disruption & Investment Costs (Unaudited) 1 TSS LC Investment Costs will continue into 2026 and beyond at a run rate of ~$4-5M per quarter. 2024 2025 ($, millions) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Disruption Costs Thermal & Specialized Solutions (TSS) Winter Storm -$ -$ -$ -$ -$ 5$ -$ -$ -$ 5$ Titanium Technologies (TT) Impacts from Altamira Outage - 8 18 - 26 - - - - - Winter Storm Impact - - - - - 7 - - - 7 Rail Impact to Ore Mix - - - - - - 15 - - 15 Operational Disruption - - - - - - 8 11 - 19 Total TT - 8 18 - 26 7 23 11 - 41 Advanced Performance Materials (APM) Higher Deferred Maintenance Costs - - - - - 5 - - - 5 Outage/Idling Costs & Related Impacts - - - - - - - 20 4 24 Total APM - - - - - 5 - 20 4 29 Corporate Expenses Internal Review Costs 12 11 2 2 27 3 1 2 - 6 Unallocated Costs (Applied in consolidation only) - TT Transformation Plan - 11 3 2 16 1 - - - 1 Other Transformation Costs - - - - - - 2 2 4 Total Unallocated - 11 3 2 16 1 2 2 - 5 Total Costs 12$ 30$ 23$ 4$ 69$ 21$ 26$ 35$ 4$ 86$ Investment Costs 1 TSS - Liquid Cooling & Next Generation Refrigerants 5$ 4$ 5$ 4$ 18$ 5$ 5$ 22$ 8$ 40$
Page 23
Chemours - Internal Use Only 23 Segment Net Sales and Adjusted EBITDA (Unaudited)5 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Segment Net Sales Thermal & Specialized Solutions 494$ 533$ 444$ 380$ 454$ 519$ 468$ 390$ 466$ 597$ 560$ 444$ Titanium Technologies 632 707 690 651 592 676 672 632 597 657 612 561 Advanced Performance Materials 393 394 349 326 303 345 354 324 294 346 311 312 Other Non-Reportable Segment 30 26 18 11 14 13 14 13 11 15 12 12 Total Company Net Sales 1,549$ 1,660$ 1,501$ 1,368$ 1,363$ 1,553$ 1,508$ 1,359$ 1,368$ 1,615$ 1,495$ 1,329$ Segment Adjusted EBITDA Thermal & Specialized Solutions 185$ 214$ 162$ 124$ 150$ 160$ 139$ 122$ 141$ 207$ 194$ 128$ Titanium Technologies 70 87 69 64 69 83 78 70 50 47 25 23 Advanced Performance Materials 84 81 68 40 30 45 38 47 32 50 14 12 Other Non-Reportable Segment 10 5 2 - 2 3 3 - 1 4 2 1 Corporate Expenses (45) (63) (54) (50) (55) (77) (54) (69) (57) (47) (44) (34) Segment Adjusted EBITDA Margin Thermal & Specialized Solutions 37% 40% 36% 33% 33% 31% 30% 31% 30% 35% 35% 29% Titanium Technologies 11% 12% 10% 10% 12% 12% 12% 11% 8% 7% 4% 4% Advanced Performance Materials 21% 21% 20% 12% 10% 13% 11% 15% 11% 14% 5% 4% Other Non-Reportable Segment 33% 19% 13% 0% 14% 23% 21% 0% 9% 27% 17% 10% 2023 2024 5 Refer to footnote provided on the preceding slides.
Page 24
Chemours - Internal Use Only 24 GAAP Net Income (Loss) 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) ($ in millions except per share amounts) $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* Income (loss) before income taxes (67)$ 1$ 38$ (277)$ 106$ Net (loss) income attributable to Chemours (47)$ (0.31)$ (11)$ (0.07)$ 46$ 0.31$ (386)$ (2.56)$ 69$ 0.46$ Non-operating pension and other post-retirement employee benefit (income) cost (3) (0.02) 1 0.01 (4) (0.03) (10) (0.07) (3) (0.02) Exchange losses, net 4 0.03 3 0.02 1 0.01 11 0.07 9 0.06 Restructuring, asset-related, and other charges 4 0.03 7 0.05 4 0.03 58 0.39 58 0.39 Goodwill impairment charge — - — — — — — — 56 0.37 Loss on extinguishment of debt 5 0.03 1 0.01 — — 5 0.03 1 0.01 Gain on sales of assets and businesses, net — — — — (7) (0.05) (8) (0.05) (3) (0.02) Transaction costs 4 0.03 2 0.01 — — 6 0.04 2 0.01 Qualified spend recovery (7) (0.05) (4) (0.03) (13) (0.09) (42) (0.28) (26) (0.17) Litigation-related charges 19 0.13 — — 8 0.05 320 2.12 (2) (0.01) Environmental charges 20 0.13 15 0.10 13 0.09 93 0.62 15 0.10 Adjustments made to income taxes 19 0.13 6 0.04 (18) (0.12) 182 1.21 9 0.06 (Benefit from) provision for income taxes relating to reconciling items (11) (0.07) (6) (0.04) (4) (0.03) (86) (0.57) (6) (0.04) Adjusted Net Income 7$ 0.05$ 14$ 0.09$ 26$ 0.17$ 143$ 0.95$ 179$ 1.19$ Net income attributable to non-controlling interests (1) — — — — Interest expense, net 68 67 68 269 263 Depreciation and amortization (10) 81 75 80 317 292 All remaining provision for (benefit from) income taxes (27) 12 15 13 34 Adjusted EBITDA 128$ 168$ 189$ 742$ 768$ 2025 2024 2025 2025 2024 December 31, September 30, December 31, Three Months Ended Three Months Ended Year Ended 5 Refer to footnote provided on the preceding slides.
Page 25
Chemours - Internal Use Only 25 GAAP Net Income (Loss) 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) ($ in millions except per share amounts) $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* $ amounts $ per share* Adjusted EBITDA 128$ 168$ 189$ 742$ 768$ Total debt principal 4,182$ 4,156$ Less: Cash and cash equivalents (670) (713) Total debt principal, net 3,512$ 3,443$ Net Leverage Ratio (calculated using GAAP earnings) -12.7x 32.5x Net Leverage Ratio (calculated using Non-GAAP earnings) 4.7x 4.5x Weighted-average number of common shares outstanding - basic 150,464,150 149,825,988 150,320,265 150,237,101 149,494,462 Weighted-average number of common shares outstanding - diluted 150,862,661 150,329,655 150,781,614 150,641,882 150,172,289 Basic (loss) earnings per share of common stock (2) (0.31)$ (0.08)$ 0.31$ (2.57)$ 0.46$ Diluted (loss) earnings per share of common stock (1) (2) (0.31)$ (0.08)$ 0.31$ (2.57)$ 0.46$ Adjusted basic earnings per share of common stock (2) 0.05$ 0.09$ 0.17$ 0.95$ 1.20$ Adjusted diluted earnings per share of common stock (1) (2) 0.05$ 0.09$ 0.17$ 0.95$ 1.19$ (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 December 31, 2024, September 30, 2024, and December 31, 2023, as well as the year ended December 31, 2023. 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 December 31, 2024, September 30, 2024 and December 31, 2023, as well as the year ended December 31, 2023 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 2024 December 31, September 30, December 31, Three Months Ended Three Months Ended Year Ended 5 Refer to footnote provided on the preceding slides.
Page 26
Chemours - Internal Use Only 26 GAAP Cash Flow Provided by Operating Activities to Free Cash Flows and Free Cash Flow Conversion Reconciliation 1. For the year ended December 31, 2024, operating cash outflows includes the release of the $606 million of cash and cash equivalents deposited in the qual ified settlement fund per the terms of the U.S. public water system settlement agreement. 1
Page 27
Chemours - Internal Use Only 27 2026 Estimated GAAP Net Income Attributable to Chemours to Estimated Adjusted NI, Estimated Adj. EBITDA & 2026 Estimated GAAP Cash Flow Provided by Operating Activities to Free Cash Flows and FCF Conversion Reconciliation (Estimated) Year Ending December 31, 2026 Low High Net income attributable to Chemours $ 164 $ 240 Restructuring, transaction, and other costs, net (2) -- -- Adjusted Net Income 164 240 Interest expense, net 280 280 Depreciation and amortization 320 320 All remaining provision for income taxes 36 60 Adjusted EBITDA $ 800 $ 900 (1) The Company's estimates reflect its current visibility and expectations based on market factors, such as currency movements, macro-economic factors, and end-market demand. Actual results could differ materially from these estimates. (2) Restructuring, transaction, and other costs, net includes the net benefit from income taxes relating to reconciling items and adjustments made to income taxes for the removal of certain discrete income tax impacts.
Page 28
Revisions to Previously Presented Segment Net Sales, Segment Adjusted EBITDA, Adjusted Net Income and Consolidated Adjusted EBITDA5 5 Refer to footnote provided on the preceding slides. As Reported Revision As Revised As Reported Revision As Revised Segment Adjusted EBITDA Thermal & Specialized Solutions 685$ (2)$ 683$ 576$ (5)$ 571$ Titanium Technologies 290 - 290 312 (11) 301 Advanced Performance Materials 273 1 274 161 (1) 160 Other Non-Reportable Segment 18 - 18 8 - 8 As Reported Revision As Revised As Reported Revision As Revised C orporate Expense (53)$ 6$ (47)$ (38)$ (6)$ (44)$ Litigation-related charges (299) 6 (293) (2) (6) (8) (Loss) income before income taxes (261) 13 (248) 51 (13) 38 As Reported Revision As Revised As Reported Revision As Revised As Reported Revision As Revised As Reported Revision As Revised As Reported Revision As Revised As Reported Revision As Revised (Loss) income before income taxes 1$ -$ 1$ -$ -$ -$ (261)$ 13$ (248)$ 51$ (13)$ 38$ (318)$ -$ (318)$ 127$ (21)$ 106$ Net (loss) income attributable to Chemours (10) (1) (11) (4) (1) (5) (381) 1 (380) 60 (13) 47 (238) (15) (253) 86 (17) 69 Non-operating pension and other post-retirement 1 - 1 (2) - (2) (2) - (2) (4) - (4) - - - (3) - (3) Exchange losses (gains), net 3 - 3 3 - 3 4 - 4 1 - 1 38 - 38 9 - 9 Restructuring, asset-related, and other charges 7 - 7 32 - 32 18 - 18 4 - 4 153 - 153 58 - 58 Goodwill impairment charge - - - - - - - - - - - - - - - 56 - 56 Loss on extinguishment of debt 1 - 1 - - - - - - - - - 1 - 1 1 - 1 Gain on sale of assets and businesses, net - - - (1) - (1) - - - (7) - (7) (110) - (110) (3) - (3) Transaction costs 2 - 2 - - - 2 - 2 - - - 16 - 16 2 - 2 Qualified spend recovery (4) - (4) (9) - (9) (13) - (13) (13) - (13) (54) - (54) (26) - (26) Litigation-related charges - - - - - - 299 (6) 293 2 6 8 764 (4) 760 (15) 13 (2) Enviornmental charges 15 - 15 - - - 60 - 60 13 - 13 9 - 9 15 - 15 Adjustments made to income taxes 2 4 6 - 1 1 171 8 179 (23) 5 (18) (19) 15 (4) 4 5 9 Provision for (benefit from) income taxes relating to (7) 1 (6) - - - (71) 2 (69) (3) (2) (5) (135) 1 (134) (2) (3) (6) Adjusted Net Income 10$ 4$ 14$ 19$ -$ 19$ 87$ 4$ 91$ 30$ (4)$ 26$ 425$ (3)$ 422$ 182$ (3)$ 179$ Net income attributable to non-controlling interest - - - - - - 1 - 1 - - - 1 - 1 - - - Interest expense, net 67 - 67 66 - 66 67 - 67 68 - 68 208 - 208 264 (1) 263 Depreciation and amortization 75 - 75 77 - 77 79 - 79 80 - 80 307 2 309 301 (9) 292 All remaining provision for income taxes 16 (4) 12 4 - 4 19 2 21 17 (2) 15 73 (1) 72 39 (6) 34 Adjusted EBITDA 168$ -$ 168$ 166$ -$ 166$ 253$ 6$ 259$ 195$ (6)$ 189$ 1,014$ (1)$ 1,013$ 786$ (18)$ 768$ Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2024 Three Months Ended June 30, 2025 Three Months Ended September 30, 2025 Three Months Ended March 31, 2025 Three Months Ended June 30, 2025 Three Months Ended September 30, 2025Three Months Ended December 31, 2024 Year Ended December 31, 2023 28
Page 29
® 2026 CHEMOURS. ALL RIGHTS RESERVED