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Q3 2026 Earnings Presentation FMC CORPORATION 1 Q3 2026 Earnings Presentation October 30, 2026
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Q3 2026 Earnings Presentation FMC CORPORATION 2 Safe Harbor Statement 2FMC CORPORATION Non-GAAP Financial Terms These slides contain certain “non-GAAP financial terms”. Such non-GAAP financial terms include adjusted EBITDA, adjusted EBITDA margin ex. India, adjusted EPS, adjusted tax rate, free cash flow ("FCF"), organic revenue growth, revenue excluding India and return on invested capital. Definitions of these terms, as well as a reconciliation to the most directly comparable financial measure calculated and presented in accordance with GAAP, are provided on our website investors.fmc.com. Although we provide forecasts for these non-GAAP financial measures, we are not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP. Certain elements of the composition of the GAAP amounts are not predictable, making it impractical for us to forecast. Such elements include, but are not limited to restructuring, acquisition charges, our India held for sale business and discontinued operations and related cash activity. As a result, no GAAP outlook is provided. All references herein to “EBITDA” are shorthand references to Adjusted EBITDA and do not signify EBITDA before adjustments. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this presentation are forward- looking statements that are based on our current views and assumptions regarding future events, future business conditions and the projections, outlook and guidance for our company based on currently available information, including but not limited to the impact of certain corporate actions. In some cases, you can identify these forward-looking statements by such words or phrases as “outlook”, "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are subject to numerous risks and uncertainties, including but not limited to risks related to business competition; impacts of climatic conditions; unexpected market conditions; changes in the regulatory environment; cost of commodities; changes in price or availability of key raw materials; our ability to innovate and successfully introduce new products or technologies; ability to compete and protect our intellectual property rights; global and exchange rate fluctuations; and potential litigation and regulatory matters, and are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
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Q3 2026 Earnings Presentation FMC CORPORATION 3 Update on Commercial Actions Announced on October 15 Commercial Action Approximate Split of EBITDA1 Charge Cash Impact Change in North America pricing and rebate model 1) Transition to new pricing model 2) Impact of adjusting gross price of existing channel inventory ~$500M No change to forward cash obligation Reducing the price of high-priced products in Brazil, Argentina, the U.S. and Canada to better align value of that customer inventory to current market pricing ~$175M Foregoing of future cash collection over subsequent quarters Impact of $672 million to third-quarter Adjusted EBITDA1 and $639 million to third-quarter revenue Two actions to reduce the value of FMC inventory held by channel customers, improve product flow to growers and support a return to sales growth 1. Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation.
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Q3 2026 Earnings Presentation FMC CORPORATION 4 Q3 2026 Results Q3 2026 KEY POINTS ❖ Commercial actions result in $639 million of negative impact to revenue and $672 million of negative impact to Adj. EBITDA1 ❖ Excluding commercial actions, lower sales and Adj. EBITDA1 driven mainly by reduction in volumes Q3 2026 Q3 2025 2026 VS. 2025 GAAP Revenue Commercial Actions Adjustment $106 $639 $542 $(436) GAAP Net Income $(2,067) $(569) $(1,498) Adjusted EBITDA1 $(559) $236 $(795) Commercial Actions Adjustment $672 GAAP EPS $(15.54) $(4.52) $(11.02) Adjusted EPS1 $(4.41) $0.89 $(5.30) 4FMC CORPORATION Note: Amounts in millions of USD except for EPS 1. Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation.
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Q3 2026 Earnings Presentation FMC CORPORATION 5 Q3 2026 Regional Revenue Drivers VOLUME PRICE FX Comm. Adj. Total: -89% -21% -2% 1% -67% Organic1: -90% • Weaker than expected demand in Brazil amplified by uncertainty of El Nino impacts • Solid growth in new Rynaxypyr® formulations • Branded price headwind • Lower volumes almost entirely driven by planned registration losses • Poor weather leading to lower demand in many countries • Branded price essentially flat • Lower volumes across all product classes • Channel customers carefully managed inventory for end of growing season • Branded price decline limited by lack of quarter-end negotiations with channel customers • Higher volumes • Strong Isoflex® growth driven by Australia • Branded price headwind Latin America $368 million (-21% YOY, -23% ex-FX) Asia $91 million (-8% YOY, -8% ex-FX) North America $164 million (-33% YOY) EMEA $121 million (-22% YOY, -21% ex-FX) Q3 2026 REVENUE DRIVERS (Excluding India)2 ($8) ($34) ($639) $542 $419 $961 ($80) ($95) $106 Q3 '25 '25 India '25 Ex. India NA LATAM Asia EMEA Comm. Adj. Q3 '26 1. Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation. 2. Variance components do not sum due to rounding REGIONAL REVENUE BRIDGE (Excluding India)1 Note: Amounts in millions of USD; “Asia” column excludes India Regional Results Exclude Commercial Action Adjustments2
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Q3 2026 Earnings Presentation FMC CORPORATION 6 Q3 2026 Adjusted EBITDA1 Drivers Note: Amounts in millions of USD Adjusted EBITDA1 BRIDGE KEY DRIVERS AT A GLANCE Volume, Mix, Launches Cost • Lower volume driven by challenging market conditions including strained grower margins, perception of ample supply and weather • Channel customers prioritizing holding low inventory value • Favorable costs with contributions from COGS Price FX • Lower price driven by LATAM, Asia • Includes strategic pricing actions for post-patent products • Moderate FX headwind ($672) ($121) ($12) $236 ($20) $30 -$559 Q3 '25 Commercial Adj. Volume, Mix, Launches Price Cost FX Q3 '26 1. Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation. 6FMC CORPORATION Q3 ‘25 Comm. Adj. Volume, Mix, Launches Price Cost FX Q3 ‘26
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Q3 2026 Earnings Presentation FMC CORPORATION 7 Q4 2026 Financial Outlook 1. Denotes non-GAAP financial term. Refer to non-GAAP financial terms at the beginning of this presentation 2. Outlook for EPS assumes weighted average diluted shares outstanding (WADSO) of 156.0 million Note: Year-over-year growth noted at mid-point of guidance range $210 million – $230 million • Lower price • Higher volumes • FX headwind • Favorable costs(22)% YoY $0.56 – $0.70 (48)% YoY • Challenging market conditions continue • Higher volume driven by increased direct-to-grower sales in Brazil, growth of new products and more competitive FMC pricing • High-single digit price decline $1.04 billion – $1.14 billion 0% YoY • Lower EBITDA1 • Increased share count REVENUE excl. India1ADJ. EBITDA1ADJ. EPS1,2 REVENUE (excl. India)1 DRIVERS ADJ. EPS1,2 DRIVERS ADJ. EBITDA1 DRIVERS Q4 2026 Guidance
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Q3 2026 Earnings Presentation FMC CORPORATION 8 '26 EBITDA Midpoint Interest & Tax CapEx & OIA Restruct. & Legacy Licensing All Other '26 FCF Midpoint Q3 Cash Results and 2026 Cash Flow Guidance 1. Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation. 2. “All Other” reflects working capital, other operating assets and liabilities and divestiture costs. In Millions Q3 ‘26 Q3 ‘25 Q3 ’26 vs. Q3 ’25 FY 2026 Guidance Adjusted EBITDA1 $(559) $236 $(795) $(124) - $(104) Cash from Operations (GAAP) $7 $(184) $191 $(240) - $(60) Capital Additions & Other Investing Activities (OIA) $(8) $(24) $16 $(55) - $(45) Discontinued Operations $(20) $(24) $4 $(80) - $(70) Divestiture Transaction Costs $3 $0 $3 ~$25 Free Cash Flow (FCF)1 $(18) $(233) $214 $(350) - $(150) Free Cash Flow (FCF)1 excl. Restructuring $4 $(226) $231 $(170) - $30 Note: Restructuring cash costs of $23 million Q3 2026, $6 million Q3 2025 and an estimate of ~$180 million for the full year are included in GAAP Cash from Operations. Bridge between Cash from Operations and Free Cash Flow, as well as quarterly variances, may not sum due to rounding. $(114)M $(250)M 2026 Outlook • Free Cash Flow1 guidance updated $(350)M to $(150)M including $180M of restructuring spend Q3 Cash Results • Adjusted EBITDA1 reflects $672 million impact from commercial actions • Includes working capital benefit from India business 1 1 $0M 2
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Q3 2026 Earnings Presentation FMC CORPORATION 9 FMC Advancing on 2026 Operational Priorities Generate ~$1B of Proceeds for Debt Paydown Improve Competitiveness of Core Portfolio Grow Sales of New Active Ingredients Sale of India commercial business Active ingredient licensing including upfront payment Lower manufacturing costs of non-diamide core products Adjust Asia cost structure to account for smaller size following India commercial sale Sales expected to reach $300M to $400M in 2026 Commercial licensing agreements accelerate growth Continue strategy to increase direct-to-grower sales in Brazil Implement Post-Patent Rynaxypyr® Strategy Offer advanced mixtures and formulations: Differentiate from solo offerings and address resistance challenges Lower price to grow volume by capturing market share from other, older insecticides Continue to lower Rynaxypyr® manufacturing costs Property leaseback and other asset sales Strategic review complete; Company continues to focus on operational priorities Equity investment from Tessenderlo Group
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Q3 2026 Earnings Presentation FMC CORPORATION 10 2028 ~$760M – ~$840M 2027 Minimum of ~$650M As Much As ~$730M • Benefit from commercial actions to free up channel • Cost benefit from reduced returns and re-work Preliminary Views on 2027 and 2028 Denotes non-GAAP financial term. Refer to “Non-GAAP Financial Terms” at the beginning of this presentation. Does not represent formal guidance which will be provided on Q4 2026 earnings call 10 Adjusted EBITDA1 Commercial Manufacturing New Products Partner Sales • Benefit from commercial actions to free up channel • Partial-year benefit from manufacturing actions weighted to second half of year • Full year of manufacturing benefits • Fluindapyr growth with continued contribution of Isoflex® and Dodhylex® • Stronger Isoflex® sales in EU and Dodhylex® in Asia & Brazil complement continued fluindapyr growth • Headwind due to lower volume and pricing decline from passthrough of lower costs • Headwind from lower volume
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Q3 2026 Earnings Presentation FMC CORPORATION 11 APPENDIX
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Q3 2026 Earnings Presentation FMC CORPORATION 12 Appendix Revenue: ~$90 million EBITDA: $0 million 12 – 14 percent $270 million – $280 million $160 million – $170 million ~135.2 million FY ~156.0 million Q4 $(350) million – $(150) million $45 – $55 million 1. Denotes non-GAAP financial term. Refer to non-GAAP financial terms at the beginning of this presentation. Modeling Assumptions for 2026 INTEREST EXPENSE ADJUSTED TAX RATE1 2026 EXPECTED INDIA LOSS OF CONTRIBUTION WEIGHTED AVG. DILUTED SHARES OUTSTANDING (WADSO) DEPRECIATION & AMORTIZATION FREE CASH FLOW1 CAPITAL ADDITIONS AND OTHER INVESTING ACTIVITIES 12Q3 2026 Earnings Presentation FMC CORPORATION $3 million – $5 million NON-CONTROLLING INTEREST
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Q3 2026 Earnings Presentation FMC CORPORATION 13 Adj. EBITDA1 Interest Expense Share Count D&A, Taxes & Other Q3 ‘26Q3 ‘25 Q3 2026 Adjusted EPS1 Variance Appendix $0.89 $(4.41) $(5.56) $(0.07) $0.26 $0.07 1. Denotes non-GAAP financial term. Refer to non-GAAP financial terms at the beginning of this presentation
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Q3 2026 Earnings Presentation FMC CORPORATION 14 Additional Disclaimers Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. No offer for sale, sale, or use of any such products is permitted prior to the issuance of the required U.S. EPA andstate registrations, or other applicable regulatory authority restrictions. FMC, the FMC logo, Dodhylex, Isoflex and Rynaxypyr are trademarks of FMC Corporation or an affiliate.
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Q3 2026 Earnings Presentation FMC CORPORATION 15 Copyright © 2026, FMC Corporation. All Rights Reserved.