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Fourth Quarter & Full-Year 2025 F e b r u a r y 2 5 , 2 0 2 6
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 2 This presentation contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Examples of such forward-looking statements include but are not limited to: (i) statements regarding the Company’s results of operations and financial condition; (ii) statements of plans, objectives or goals of the Company or its management, including those related to financing, products, or services; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as “believes,” “anticipates,” “expects,” “intends,” “forecasts,” and “plans,” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections, and other forward-looking statements will not be achieved. The Company cautions that several important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates, and intentions expressed in such forward-looking statements. These factors include but are not limited to: (i) demand conditions in our end markets, including customer inventory cycles and regulatory developments; (ii) customer concentration and changes in purchasing behavior; (iii) competitive pressures and pricing dynamics; (iv) global economic, geopolitical, trade and tax developments, including tariffs, export controls and other trade measures; (v) supply chain disruption, raw material and energy cost volatility, and availability of critical inputs; (vi) foreign currency fluctuations and hedging effectiveness; (vii) environmental, health and safety, climate-related and other regulatory requirements; (viii) product liability, warranty, recall and litigation risks; (ix) cybersecurity threats, data protection obligations and evolving disclosure requirements; (x) our ability to protect intellectual property and successfully innovate; (xi) pension obligations and related regulatory requirements; (xii) operational disruptions, labor relations and workforce availability; (xiii) our ability to successfully execute acquisitions and strategic initiatives; and (xiv) our level of indebtedness, financing arrangements and covenant compliance. The Company cautions that the foregoing list of important factors is not exhaustive. These factors are more fully discussed in the sections entitled “Forward-Looking Statements” and “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the U.S. Securities and Exchange Commission on February 24, 2026. When relying on forward- looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and events. Forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update or revise any such statement, whether because of new information, future events, or otherwise. FORWARD-LOOKING STATEMENTS
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 3 Q4 2025 KEY METRICS & 2025 HIGHLIGHTS Delivered resilient performance in 2025 while strengthening the operating platform *Note: Adjusted financials exclude Graphic Arts & Legal Fee Recovery; exclusion does not impact reported cash flow metrics Q 4 2 0 2 5 F I N A N C I A L S * $90.7M Adjusted Sales 24.3% Adj Gross Margin $13.0M Adjusted EBITDA 14.3% Margin $0.28 Adjusted EPS $12.6M Free Cash Flow Financials Earnings Quality: Full-year adjusted sales increased 2.5% YoY, reflecting stronger mix and disciplined execution, while adjusted EPS increased 12.1% versus the prior year. Profitability: Delivered 14.0% adjusted EBITDA margins, up 30bps YoY, driven by strong MRE and UGR-E platforms and continued demand across aerospace and specialty industrial applications. Lean Operating Structure Footprint Optimization: Continued progress advancing on optimization programs, including Riverside and Saxonburg. Operational Effectiveness: Targeted capacity improvements implemented during the year strengthened operating performance. Strategic Positioning Portfolio Focus: Continued emphasis on core businesses with strong technical positions across defense, aerospace, and specialty industrial markets. Strategic Review: The Board continues to explore strategic alternatives consistent with long-term shareholder value creation. F Y 2 0 2 5 F I N A N C I A L S * $371.2M Adjusted Sales 23.5% Adj Gross Margin $51.9M Adjusted EBITDA 14.0% Margin $1.11 Adjusted EPS $26.2M Free Cash Flow Platform Strength and Operational Execution Drove Margin Expansion in 2025
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 4 Q4 & FULL YEAR CONSOLIDATED RESULTS Pricing discipline and higher-value mix offset volume pressure and supported margins. (amounts in millions, except EPS) Q4 2025 V S . Q 4 ’ 2 4 F u l l Y e a r 2025 V S . F Y 2024 Adj. Sales $90.7 (5.5%) $371.2 +2.5% Adj. EBITDA $13.0 (5.8%) $51.9 +4.2% Adj. EBITDA Margin 14.3% (10bps) 14.0% +25bps Adj. EPS $0.28 (3.4%) $1.11 +12.1% Cash from Operations $15.8 ($9.8) $33.9 ($16.9) Net Debt $31.1 ($9.9) $31.1 ($9.9) *Note: Adjusted financials exclude Graphic Arts & 2024 Legal Fee Recoveries $8.0 $96.0 $1.1 $1.6 $90.7 Q4 2024 FX Price Volume/Mix Q4 2025 Q 4 A D J U S T E D S A L E S ( $ M ) • Pricing: Pricing and FX: Pricing actions contributed a $1.6 million benefit in the quarter, driven largely by Gas Cylinders, while FX provided an additional $1.1 million tailwind. • Volume/Mix: Headwind of $8.0 million, including softer automotive, flares and clean energy volumes, partially offset by favorable defense and aerospace. Disciplined Execution Sustained Strong Margins and Drove Full-Year Earnings Growth
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 5 ELEKTRON Q4 AND FY 2025 FINANCIAL RESULTS Q4 2025 V s . Q 4 2024 FY 2025 V s . F Y 2024 Sales $46.9 (1.3%) $196.4 +11.6% Gross Margin 30.7% (110bps) 30.0% +50bps Adj. EBITDA $9.2 (2.1%) $36.9 +16.0% Adj. EBITDA Margin 19.6% (20bps) 18.8% +70bps High-value Platforms Drove Full Year Sales Growth and Margin Expansion F I N A N C I A L P E F O R M A N C E O V E R V I E W : • Quarterly Sales Mix: Sales were modestly down, with flares and automotive lower, mostly offset by strength in specialty industrial. • Margin Performance: Adj EBITDA margins approached 20% in Q4, driven by favorable mix across defense and aerospace programs. • Full-Year Results: Performance reflected strong demand in higher- value end markets, especially MRE and aerospace, supporting EBITDA growth and margin expansion. Q U A R T E R L Y S E G M E N T C O M M E N T A R Y : • Market Conditions: Defense reflecting tougher comps; Transportation remained soft; Industrial showed strong improvement. • Defense Momentum: Strength in aerospace continued, partially offsetting lower flares and heaters. • Specialty Industry: Strong demand across magnesium powder and zirconium applications continued. (amounts in millions) *Note: Adjusted EBITDA excludes legal recovery and cost in 2024 Q 4 2 0 2 5 S E G M E N T $21.2 $10.7 $15.0 Defense, First Response, Healthcare 24% 18% Transportation 14% 4% Specialty Industrial 106% 16% (SALES BY SEGMENT ($M)) F Y ’ 2 5 R e s u l t s Q 4 ’ 2 5 R e s u l t s
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 6 GAS CYLINDERS Q4 AND FY 2025 FINANCIAL RESULTS Q4 2025 V s . Q 4 2024 FY 2025 V s . F Y 2024 Sales $43.8 (9.7%) $174.8 (6.2%) Gross Margin 17.4% +210bps 16.1% (10bps) Adj. EBITDA $3.8 (13.6%) $15.0 (16.7%) Adj. EBITDA Margin 8.7% (40bps) 8.6% (110bps) Cost and Pricing Actions Preserved Margins Through Softer Demand F I N A N C I A L P E F O R M A N C E O V E R V I E W : • Quarterly Performance: Lower SCBA, medical and alternative fuels volumes, partially offset by improved specialty gas cylinder demand. • Margin Performance: Gross margins improved on favorable mix, strong pricing and operational efficiencies. • Full-Year Results: Lower volumes across SCBA and Medical impacted full-year sales, partially offset by stronger industrial demand, with operational efficiencies supporting margins. Q U A R T E R L Y S E G M E N T C O M M E N T A R Y : • DFRH: Demand declined versus strong prior-year U.S. Air Force comps; SCBA timing was affected by the government shutdown, with late-quarter order improvement. • Transportation: Volumes remained lower due to continued softness in alternative fuels • Industrial: Demand strengthened, supported by higher calibration and specialty gas-cylinder volumes. (amounts in millions) *Note: Adjusted EBITDA excludes legal recovery and cost in 2024 Q 4 2 0 2 5 S E G M E N T $18.6 $15.8 $9.4 Defense, First Response, Healthcare 23% 11% Transportation 8% 5% Specialty Industrial 27% 6% (SALES BY SEGMENT ($M)) F Y ’ 2 5 R e s u l t s Q 4 ’ 2 5 R e s u l t s
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 7 2026 FULL YEAR GUIDANCE Sales Revenue $350M to $370M Adjusted EPS $1.05 to $1.20 Adjusted EBITDA $50M to $55M Free Cash Flow $20M to $25M OT H E R A S S U M P T I O N S : • Interest Expense: ~$3M - $4M • Capex: $15M - $20M • Tax Rate: ~23% • FX GBP: 1.35 • Net Debt/Adj EBITDA: ~0.7x • Any strategic review advisory costs excluded Margin Strength For Stable 2026 Performance With Growth Positioned For 2027 P R I M A R Y D R I V E R S : • Defense and Aerospace Growth: Continued strength in core aerospace and defense markets supports margin resiliency and multi-year growth visibility. • Program and Cycle Timing: Revenue reflects temporary timing dynamics, including approximately nine months of reduced activity in high-end auto, the absence of an MRE add- on year, and aerospace cylinder pull-forward into 2025. • Operational Discipline and Capital Allocation: Capital deployment, focused on footprint optimization, growth and productivity, supports margins and long-term earnings leverage. • Productivity and Optimization Projects: Footprint initiatives underway are expected to cause some disruption but contribute later in 2026 and primarily 2027 as demand normalizes. • Balance Sheet Strength and Financial Flexibility: Low leverage and strong liquidity support reinvestment in growth while preserving balance sheet strength. Midpoint of ~$1.12 Adjusted EPS $1.05 to $1.20
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 8 Executing Today, Building Momentum for 2027 Enhanced Elektron Platforms Anchored in Aerospace and Defense Next Generation Gas Cylinder Technologies with Recurring Replacement Cycles Driving Resilience and Long-Term Growth through the Luxfer Business System Platform Strength + Cycle Management = Durable Earnings Profile 2025: Platform Strengthening and Structural Margin Expansion • Aerospace and defense strength, combined with portfolio and cost actions, expanded margins and earnings quality. 2026: Resilient Performance and Margin Stability • Steady performance through cycle variability, supported by core aerospace and defense demand and a streamlined cost base. 2027: Revenue Acceleration and Operating Leverage Expansion • High-end auto cycle, SCBA replacement cycle, new products, potential magnesium add-on.
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 9 STRONG EXECUTION IN 2025, POSITIONED FOR GROWTH . Structural Optimization Enhancing Efficiency Defense & Aerospace Platforms Driving High- Value Growth Gas Cylinders Strengthened Through Pricing and Cost Actions Earnings Growth and Margin Expansion 2026 Timing Headwinds, Path to 2027 Acceleration Luxfer is Well Positioned with Clear Line of Sight to 2027 Acceleration
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 10 Q&A FOURTH QUARTER 2025 EARNINGS PRESENTATION
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 11
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 12 APPENDICES Segment Financial Detail and Reconciliation of Non-GAAP Measures
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 13 Q4 2025: CONSOLIDATED RESULTS $8.0 $96.0 $1.1 $1.6 $90.7 Q4 2024 FX Price Volume/Mix Q4 2025 Sales ($M) -5.5% $0.1 $0.2 $2.2 $13.8 $1.6 $0.1 $13.0 Q4 2024 FX Price Inflation Volume/Mix Other Q4 2025 Adj. EBITDA ($M) -5.8% *Note: Adjusted financials exclude Graphic Arts & 2024 Legal Fee Recoveries
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 14 Q4 2025: ELEKTRON SEGMENT RESULTS $2.1 $47.5 $0.9 $0.6 $46.9 Q4 2024 FX Price Volume/Mix Q4 2025 Sales ($M) -1.3% $0.3 $1.1 $9.4 $0.6 $0.1 $0.5 $9.2 Q4 2024 FX Price Net Deflation Volume/Mix Other Q4 2025 Adj. EBITDA ($M) -2.1% *Note: Adjusted financials exclude 2024 Legal Fee Recoveries
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 15 Q4 2025: GAS CYLINDERS SEGMENT RESULTS $5.9 $48.5 $0.2 $1.0 $43.8 Q4 2024 FX Price Volume/Mix Q4 2025 Sales ($M) -9.7% -13.6% $0.3 $1.1 $0.4 $4.4 $0.2 $1.0 $3.8 Q4 2024 FX Price Inflation Volume/Mix Cost Red/Other Q4 2025 Adj. EBITDA ($M)
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 16 FY 2025: CONSOLIDATED RESULTS $0.5 $362.3 $3.0 $6.4 $371.2 FY 2024 FX Price Volume/Mix FY 2025 Sales ($M) +2.5% $0.5 $8.9 $49.8 $6.4 $1.0 $4.1 $51.9 FY 2024 FX Price Inflation Volume/Mix Other FY 2025 Adj. EBITDA ($M) +4.2% *Note: Adjusted financials exclude Graphic Arts & 2024 Legal Fee Recoveries
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 17 FY 2025: ELEKTRON SEGMENT RESULTS $0.9 $176.0 $1.9 $19.4 $196.4 FY 2024 FX Price Volume/Mix FY 2025 Sales ($M) +11.6% $1.0 $0.9 $8.2 $31.8 $3.2 $12.0 $36.9 FY 2024 FX Price Net Deflation Volume/Mix Other FY 2025 Adj. EBITDA ($M) +16.0% *Note: Adjusted financials exclude 2024 Legal Fee Recoveries
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 18 FY 2025: GAS CYLINDERS SEGMENT RESULTS $19.9 $186.3 $1.1 $7.3 $174.8 FY 2024 FX Price Volume/Mix FY 2025 Sales ($M) -6.2% -16.7% $2.2 $7.9 $0.7 $18.0 $0.5 $7.3 $15.0 FY 2024 FX Price Inflation Volume/Mix Cost Red/Other FY 2025 Adj. EBITDA ($M)
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 19 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 20 CONDENSED CONSOLIDATED BALANCE SHEETS
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 21 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 22 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 23 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE YTD
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 24 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED EBITDA
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 25 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: NET SALES AND ADJUSTED EBITDA BY SEGMENT
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 26 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED EFFECTIVE TAX RATE
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 27 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: NET DEBT RATIO AND FREE CASH FLOW NET DEBT RATIO (UNAUDITED) FREE CASH FLOW (UNAUDITED)
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CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 28