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TM Investor Meetings November 2025 To Make Tomorrow’s Technologies Possible
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2 Forward looking statements & non-GAAP financial measures Forward Looking Statements On November 1, 2025, DuPont de Nemours, Inc. ("DuPont") completed the separation of its electronics business (the “Separation”) by way of a spin-off transaction, thereby creating Qnity Electronics, Inc. ("Qnity"), a new independent, publicly traded electronics company. This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "project," "believe," "seek," "see," "will," "would," "target," “stabilization,” “confident,” “preliminary,” “initial,” ”drive,” “innovate” and similar expressions and variations or negativ es of these words. Statements that describe or relate to Qnity's business plans or prospects, goals, intentions, strategies, future operating or financial performance, outlook, Qnity's expectations regarding the Spin-Off, timing and likelihood of success, including without limitation statements regarding Qnity's strategic path, operating model and capital allocation plan to deliver above-market growth and strong profitability and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond Qnity’s control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not representations or warranties or guarantees of future results. Some of the important factors that could cause Qnity’s actual results to differ materially from those projected in any such forward- looking statements include, but are not limited to the possibility that the Separation does not achieve its intended benefits; the impact of the Separation on Qnity’s business, including the impact on Qnity’s resources, systems, procedures and controls, diversion of management’s attention and the impact and possible disruption of existing relationships with customers, suppliers, employees and other business counterparties; the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the Separation; the uncertainty of the expected operational and financial performance of Qnity following completion of the Separation; the outcome of any pending or future litigation; the extent and cost of ongoing remediation obligations and potential future remediation obligations; indemnification of certain legacy liabilities and Qnity’s applicable percentage for the costs as described more fully in Qnity’s Exchange Act reports on file with the Securities and Exchange Commission (“SEC”); the risks and uncertainties, including increased costs and the ability to obtain raw materials and meet customer needs from, among other events, pandemics and responsive actions; adverse changes in worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions; and other factors beyond Qnity’s control, including tariffs, inflation, recession, military conflicts, natural and other disasters or weather -related events; the ability to offset increases in cost of inputs, including raw materials, energy and logistics; the risks associated with continuing or expanding trade disputes or restrictio ns, new or increased tariffs or export controls including on exports to China of U.S.-regulated products and technology; and other risk factors discussed in Qnity’s registration statement on Form 10 filed with the SEC as well as future filings with the SEC. Consequences of material differences in results as compared with those anticipated in the forward- looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Qnity’s consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward- looking statements, which speak only as of the date they are made. Qnity assumes no obligation to publicly provide revisions or updates to any forward- looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Non-GAAP Financial Measures This presentation includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measures. The non-GAAP measures presented are not necessarily indicative of the future possible key performance indicators or non-GAAP measures of Qnity. Qnity believes these non-GAAP financial measures are useful to investors because they provide additional information related to the performance of Qnity on an as managed by DuPont basis and a standalone basis. These non-GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP and should not be viewed as an alternative to U.S. GAAP. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Reconciliations for these non-GAAP measures to their most directly comparable U.S. GAAP financial measures are provided in the Appendix. Non-GAAP measures included in this presentation are defined below. Operating EBITDA is defined as earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non- operating pension / OPEB benefits / charges, foreign exchange gains / losses , indirect legacy costs, and adjusted for significant items. The reference to Future Reimbursable Indirect Costs is deleted from the definition of Operating EBITDA as Qnity does not have Future Reimbursable Indirect Costs in any of the periods presented. Operating EBITDA Margin is defined as Operating EBITDA divided by Net Sales. Significant items are items that impact Qnity and arise outside the ordinary course of business that management believes may cause misinterpretation of underlying business performance, both historical and future, based on a combination of some or all of the item’s size, unusual nature and infrequent occurrence. Management classifies as significant items certain costs and expenses associated with integration and separation activities related to transformational acquisitions and divestitures as they are considered unrelated to ongoing business performance. Indirect legacy costs relate to cost sharing arrangements executed between DuPont and Qnity at the time of the separation. Such costs include certain litigation and environmental-related shared costs and indirect cost sharing arrangements, and are excluded from Operating EBITDA, as defined above, as they are considered unrelated to ongoing Qnity business performance. Pro Forma Operating EBITDA is defined as Pro Forma earnings (i.e., “ Pro Forma Income before income taxes") before Proforma adjustments related to interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses , indirect legacy costs, and adjusted for significant items. Adjusted Pro Forma Operating EBITDA is defined as Pro Forma Operating EBITDA less recurring management adjustments as presented in the Appendix. Adjusted Pro Forma Operating EBITDA Margin is defined as Adjusted Pro Forma Operating EBITDA divided by Net Sales. Organic Net Sales is defined as net sales excluding the impacts of currency and portfolio.
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3 Overview Agenda Jon Kemp Chief Executive Officer 15+ years Electronics Experience Matt Harbaugh Chief Financial Officer 30+ years Financial Experience Qnity At-A-Glance Semiconductor Secular Trends Industry Accelerating Growth Drivers Meaningful TAM Broadest portfolio versus Industry Peers Competitive Position and Customer Profile Strategic Local-for-Local Operating Model Semiconductor Technologies Segment Overview Interconnect Solutions Segment Overview Financial Objectives & Investment Highlights Appendix & Reconciliations TM • Previously President of Electronics & Industrials division • Held variety of roles including M&A, Strategy, Business Leader • BA from University of Utah and MBA from University of Virginia • Previously CFO of Vantive, the planned spin-off from Baxter prior to its sale to Carlyle • Held various leadership roles including CFO of NuVasive and Mallinckrodt • BSBA in Finance from Saint Louis University and an EMBA from Northwestern University’s Kellogg School of Management Executive Leaders
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4 Qnity At-A-Glance: A premier global technology solutions provider for the semiconductor value chain AI = Artificial Intelligence; HPC = High Performance Computing. 1) 2025E guidance as of Business Update Call on November 6, 2025. Net Sales has been derived from our historical combined financial statements, which were prepared on a carve-out basis as we did not operate as a stand-alone entity in 2024 or during the period ended September 30, 2025. The estimated financial information and metrics presented have been voluntarily provided and reflect Qnity on a projected standalone basis. Adjusted Pro Forma Operating EBITDA Margin is defined as Pro Forma Adjusted Operating EBITDA divided by Net Sales Adjusted Pro Forma Operating EBITDA is a non-GAAP financial measure and is defined as Pro Forma earnings (i.e., “ Pro Forma Income before income taxes") before Pro Forma adjustments related to interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items. Reflects the recurring stand-alone public company costs of ~$96 million expected to be incurred annually following spin-off.. Refer to appendix for reconciliations of relevant non-GAAP financial measures to the most directly comparable GAAP measures. Refer to appendix for reconciliations of relevant non-GAAP financial metrics to the most directly comparable GAAP measures. 2) Includes Hong Kong. Local for Local Operating Network 17 R&D Facilities 39 Manufacturing Sites Financials ~$4.7B Net Sales ~30% Adjusted Pro Forma Operating EBITDA Margin 2025E1 End-Markets Net Sales 2024 Regions Net Sales 2024 ~40% ~20% ~15% ~15% ~10% Communication Infrastructure AI / HPC / Data Center Consumer Electronics Industrials/ Other Automotive Americas ~34% ~45% ~8% ~13% China2 All other Asia EMEA Making Tomorrow’s Technologies Possible • Innovative portfolio built on decades of leading-edge products and solutions • Mission-critical strategic Partner of Choice to fabs and industry leading OEMs • Best-in-class operating model with excellence and consistency in performance, quality, and reliability
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5 High-Performance Computing Advanced Connectivity Demand Drivers Technology Inflections More than Moore’s Law 3D Stacking Heterogeneous Integration Miniaturization AI & Machine Learning Cloud Computing Data Proliferation Autonomous Driving Systems Device Interconnectivity Edge Computing Powering the next leap in electronics New Technology Trends Driving Demand for New Material Solutions
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6 Legacy nodes Advanced nodes ~15 (FinFETs 14nm) ~30 (GAA + BSPD) ~15 (2D DRAM, 1xnm) ~30 (3D DRAM) ~10 (2D NAND, F14) ~40 (3D NAND, Gen10) ~2 (Conv. Packaging) ~20 (Adv. Packaging) New architectures create significant opportunities for content gains and TAM expansion MSI = Million Square Inches; GAA = Gate All Around; BSPD = Back-side Power Delivery. Source: Omdia; Qnity estimates. 6 2023 2029 ~13k ~17k Legacy Nodes, >7nm Advanced nodes, ≤7nm Logic and Memory Volume (MSI) Number of CMP Layers, by Technology Node and Architecture (#) ~3% CAGR ~7% CAGR
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7 % of 2024 Net Sales Market CAGR (2024 – 2029) Current TAM 1, 2 ~50% Chip Fabrication MSD $15B ~10% Advanced Packaging HSD $4B ~20% PCB Building LSD – MSD $6B ~20% Assembly & Display MSD $8B ~4-5%3 >$30B Large and growing total addressable market Sources: Prismark and Yole NOTE: LSD = Low single digits; MSD = Mid single digits; HSD = High single digits. 1) Excludes material categories where Qnity does not play, such as wafers or photomasks. 2) As of 2024. 3) Weighted average CAGR.
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8 Device OEMs Equipment Manufacturing Deep customer partnerships and critical integrated solutions across the value chain We’re a Partner of Choice ~35 Years average top 10 customer tenure Decades-long partnerships with global leaders serving ~80% of the market 7 of top 10 customers (~35% of net sales) buy from both segments Assembly & Display Embed Circuit Boards into Devices Design and Produce Printed Circuit Boards PCB Building Encase and Connect the Chip to Circuitry Advanced Packaging Design & Manufacture Semiconductor Chips Chip Fabrication1 ~50% ~10% ~20% ~20% Note: Includes fabless, foundry and Integrated Device Manufacturers. All percentages reflect 2024 Annual Net Sales.
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9 Peer 1 Peer 2 Peer 3 Peer4 Peer 5 Peer 6 Peer 7 Lithographic Materials Advanced Cleans & Slurries1 CMP Pads Technologies Advanced Display Materials Semiconductor Equipment Gases Deposition Advanced Packaging Advanced Circuit Materials Advanced Flex Technologies (AFT) 2 Thermal & EMI Other Assembly Materials Leading positions across the supply chain Source: Public Filings and Internal Company Analysis. NOTE: List of peers, technologies and solutions not exhaustive. 1) Includes pre- and post-etch. 2) Direct AFT competitors are not typically diversified into broader electronics value chain, e.g., PIAM, Kaneka. Market Position Diversified or Non-U.S. Based Materials PeersU.S.-Based Peers Semiconductor Technologies Interconnect Solutions
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10 Strategic operating network with strong local-for-local presence Japan Taiwan Americas 17 manufacturing sites 6 R&D facilities EMEA 1 manufacturing site 1 R&D facility APAC 21 manufacturing sites 10 R&D facilities
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11 Bringing solutions across the circuit board NOTE: Represents board level consumables. Kalrez® and Display Materials not pictured above. Chip Fabrication CMP Pads CMP Slurries Advanced Cleans Lithographic Solutions Advanced Packaging Metallization Substrates Dielectrics Thermal Interface Materials PCB Building Circuit Metallization PCB Photoresists Laminates Films Assembly & Display Thermal Materials EMI Shielding OLED Materials Conductive Adhesives Our Product SolutionsValue Chain
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12 Core semiconductor products positioned for growth EUV = Extreme Ultraviolet Lithography; DUV = Deep Ultraviolet Lithography. 0.1" Display Materials Specialty Seals (Kalrez ®) CMP Pads CMP Cleans & Slurries Lithographic Materials Innovation leader for performance and quality Industry leading performance for sealing applications Leader in CMP pads with broad portfolio and industry-leading performance Strong in cleans with broad portfolio of highly integrated and customized solutions Critical supplier of advanced Photoresists and functional sublayers Specialty play in OLED materials Specialized seals for extreme environments in Semiconductor and Industrial applications Enables precision wafer polishing for advanced nodes and advanced packaging Critical to defect control in advanced nodes, advanced packaging and high selectivity etchants Supports patterning for legacy and next-gen EUV / DUV applications Strategic Role Differentiators Growth Outlook
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13 Broad solutions and deep expertise as trusted OEM design partner Strategic Role Critical solutions for thermal management and signal integrity Leading solutions for smart devices and high reliability industrial applications (AI, A&D, EVs) Leading solutions to support advanced packaging and miniaturization of PCB boards Differentiators System integration expertise, speed of innovation, and portfolio breadth Consistent product performance, application engineering expertise and speed of innovation System level design expertise and customer support model to optimize material performance Growth Outlook Advanced Circuit and Packaging Thermal Management and EMI (Laird ) Advanced Flex Technologies
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14 Outperformance to the underlying market NOTE: All growth rates projected over the three-year planning horizon ending in 2028. ~6-7% Targeted Annualized Organic Net Sales CAGR through 2028 ~4-5% Underlying Market Tailwinds New Technologies End Market Demand Digitization / Connectivity Customer Gain TAM Expansion Content Growth + OUTPERFORM MARKET ~2%
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15TM 3-Year financial objectives through 2028 1) Organic net sales is a non-GAAP financial measure and is defined as net sales excluding the impacts of currency and portfolio. 2) Adjusted EBITDA is a non-GAAP financial measure and is defined as earnings (i.e., “ Income before income taxes") before adjustments related to interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items. 3) Net leverage calculation based on Gross debt less Cash /Adjusted Operating EBITDA. Targets are on average over the three-year period. The Company has not provided forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of certain future events. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and divestitures; contingent liabilities related to litigation, environmental and indemnifications matters; impairments and discrete tax items. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period. Strong Profitability ~7-9% Adj. EBITDA Growth 2 CAGR Disciplined Capital Allocation Organic Growth Investment Opportunistic M&A Capital Returns Solid Free Cash Flow Generation ~2% Above- Market Growth <3.0x Target Net Debt Leverage3 ~6-7% Organic Net Sales1 CAGR
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16 A broad pure-play technology leader for the fast-growing semiconductor market End-to-end portfolio breadth for solutions to the semiconductor value chain; >65% of portfolio tied directly to semiconductors1 Leading the transition to advanced nodes with ~90% unit-based consumables Decades-long partnerships with global leaders serving ~80% of the market Global network with local-for-local operating model & flexible supply chains Driving financial outperformance in rapidly growing semiconductor market Strong balance sheet & robust free cash flow to optimize capital allocation 1) Including chip fabrication, advanced packaging and thermal management
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17TM APPENDIX
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18 EMI = Electromagnetic Interface. Integrated solutions with leading portfolio breadth Wafer Level Metallization Rigid-Flex Circuit Materials Rigid Circuit Board Process Materials IC Substrates & Dielectrics Passive Component (inductors) Thermal Assembly Materials PCB BuildingChip Fabrication Advanced Packaging Assembly & Display Connectors Leading Edge Lithography Materials Reticle Mask Focusing Optics Photoresist Coated Wafer Image Repeated across Wafer Light CMP Materials and Cleans Conditioner Polishing Platen Polishing Pad Slurry Wafer within Retaining Ring EMI Shielding OLED Display Thermal Management Solution
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19 Customers depend on partners who can… Co-innovate with R&D and engineers through development and scale-up process Execute with exceptionally high consistency and quality Solve problems across the entire value chain Delivering customized solutions that improve customer value Source: Assumptions based on SEMI and TechInsights data relating to AI GPU wafer. 1) Based on production of ~ 100k wafers per month for ~$17k wafer (5nm GPU). As customers scale new technologies… …small increases in yield drive big increases in value 1% improvement in yield can drive up to $200M in value for customers1
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20 Top innovation programs to drive future growth NOTE: Top programs are non-exhaustive. Yield-Enhancing Pads Adv. Node Photoresists and Sublayers Novel Chemistry for Angstrom-Level Cleans Semi Equipment Components (e.g., seals) High-Res Metallization, Low- Loss Dielectrics for Wafer- Level Packaging Thermal/EMI Management Solutions Multi-Functional Display Materials Advanced Copper Plating and IC Substrates Fineline Metallization Chemistries Dry-Film Photoresists for High Density Interconnects Assembly & DisplayPCB BuildingAdvanced PackagingChip Fabrication
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21 Advanced2 31% Logic 72% Legacy3 69% Memory 28% Global Market Composition4 Composition of Semiconductor Technologies portfolio as compared with industry Logic1 71% Advanced1,2 31% Memory1 29% Legacy1,3 69% 2019 2024 Logic1 80% Memory1 20% Advanced1,2 35% Legacy1,3 65% 2024 1) % of Sales. 2) Advanced refers to ≤ 7nm process for Logic and all Memory. 3) Legacy refers to >7nm process for Logic. 4) Source: SEMI, Global Wafer per Month, 12-in Equivalent ~45% 2030+ Anticipated Trend
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22 Technology leadership in fast growing advanced packaging WLSCP = Wafer Level Chip Scale Package. 1) Source: Yole. 22 Leader in Semiconductor Fab Materials Leader in Interconnect Materials ~$40B ~$75B Flip-chip 2.5/3D System in a package, Fan-out, WLCSP, Embedded Die Global Advanced Packaging End-Market, USD1 2023 2029 Background Generative AI requires high bandwidth memory (HBM) Unique Qnity Solution R&D leveraged portfolio expertise from Semiconductor Technologies and Interconnect Solutions to develop solution for HBM3 nodes Results Solution Commercialized for HBM3 Replicating solution with additional customers across HBM3 and HBM4 Partnering with Leading-Edge Customers ~11% Advanced Packaging at Intersection of Semiconductor and Interconnects Technology Roadmap
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23 Innovation breakthroughs in thermal management for AI- optimized servers GPU = Graphics Processing Unit; HBM = High Bandwidth Memory. 1) Source: Gartner. Customer Case Study Background OEMs require solutions to address excessive heat generation in data centers Unique Qnity Solution Rapidly developed multiple solutions leveraging prior breakthroughs in low thermal resistance technologies Results Commercialized solution with top OEM for AI boards (GPU, HBM, other modules) Replicating approach with additional data center customers 23 2023 2029 ~11M ~17M AI-Optimized Server Innovation Leader in Thermal Management Comprehensive Testing Capabilities across Global Footprint Deep Application Engineering Expertise Global Server End-Market1 (shipment units) ~7% Traditional Server
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24 Enable global / regional capacity to meet customer demands Automation, AI, and digital tools to unlock efficiency, improve quality, and performance Drive ongoing supply chain reliability and quality Full support for top programs in advanced nodes, advanced packaging, and thermal management Advance analytics and leading-edge metrology tools Strategic capital investments aligned with customer roadmaps Future R&D Investments Future Capex Investments 70% Growth 30% Maintenance 60% Top Programs 30% Supporting Existing Customers 10% Break-through Technologies ~7% of net sales ~6% of net sales
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25 Potential Focus Areas Advanced Packaging and Thermal Management Leading technologies in next-generation electronics Complementary Semi Consumables Integrate or enhance existing offerings Semiconductor Components or Services Equipment consumables, components, or services M&A to be part of future to accelerate long-term shareholder returns Strategic Criteria Expands portfolio in fast-growing adjacencies Accelerates technology leadership with cutting-edge capabilities Diversifies sales with new solutions that deepen customer intimacy Attractive financial profile to amplify and accelerate value creation
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26 Balance sheet strength underpins financial flexibility for future opportunistic growth ~$3.5B Net Debt $4.1B Gross Debt Senior Secured Term Loan B Facility $2.35B (7 year, ~6%1,2) Senior Secured Note $1B (7 year, 5.750%) Senior Unsecured Note $750M (8 year, 6.250%) $4.1B Gross Debt ~2.5x 2025E Net Leverage4 NOTE: Annualized interest expense of ~$255 million. 2025E guidance as of Qnity Investor Day, September 18, 2025. 1) SOFR is defined as Secured Overnight Financing Rate 2) SOFR + 200 bps 3) The amount of cash and cash equivalents retained by Qnity following the Spin-Off, after giving effect to the Spin-Off and the anticipated debt incurred, will depend upon each of Qnity’s and DuPont’s cash flow prior to the Spin-Off and any adjustments to effect the desired capital structure and capital allocation strategy of each of Qnity and DuPont. 4) Net leverage calculation based on Gross debt less Cash /2025E Adjusted Pro Forma Operating EBITDA
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27 2024A Prior 2025E Updated 2025E Drivers Net Sales1 $4.3B ~$4.6B ~$4.7B Strength across advanced nodes, advanced packaging, and thermal management, including growth in AI driven applications. Adjusted Pro Forma Operating EBITDA2 ~$1.25B ~$1.4B ~$1.4B Higher net sales and cost productivity actions, partially offset by unfavorable mix and selective growth investments. Adjusted Pro Forma Operating EBITDA Margin3 ~29% ~30% ~30% Pro forma 2025 full year estimates Note: As of Business Update Call on November 6, 2025. 1) Net Sales has been derived from our historical combined financial statements, which were prepared on a carve-out basis as we did not operate as a stand-alone entity in 2024 or during the period ended September 30, 2025. The estimated financial information and metrics presented have been voluntarily provided and reflect Qnity on a projected standalone basis. 2) Adjusted Pro Forma Operating EBITDA is a non-GAAP financial measure and is defined as Pro Forma earnings (i.e., “ Pro Forma Income before income taxes") before Pro Forma adjustments related to interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items. Reflects the recurring stand-alone public company costs of ~$96 million expected to be incurred annually following spin-off. 3) Adjusted Pro Forma Operating EBITDA Margin is defined as Pro Forma Adjusted Operating EBITDA divided by Net Sales. Refer to appendix for reconciliations of relevant non-GAAP financial measures to the most directly comparable GAAP measures.
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28TM Reconciliations
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29 Full Year Adjusted Operating EBITDA – Carve Out & Pro Forma Operating EBITDA ($M) 2024 ~ 2025E Carve Out Net Sales1 $4,335 $4,700 Semiconductor Technologies Segment 2,450 2,600 Interconnect Solutions Segment 1,885 2,100 Carve Out Net Income (GAAP) $724 $800 Provision for Income Taxes 177 200 Depreciation and Amortization 394 380 Interest Expense5 - 45 Other Expenses/(Income) 2 25 Adjusted Operating EBITDA2 $1,297 $1,450 Adjusted Operating EBITDA Margin4 30% 30% 29 2024 ~ 2025E Carve Out Net Sales1 $4,335 $4,700 Semiconductor Technologies Segment 2,450 2,600 Interconnect Solutions Segment 1,885 2,100 Carve Out Net Income – Pro Forma Adj. $492 $600 Management Adjustments7 (60) (60) Pro Forma & Management Adj. Net Income $432 $540 Provision for Income Taxes 161 195 Depreciation and Amortization 394 380 Interest Expense5 252 250 Other Expenses/(Income)6 13 35 Adjusted Pro Forma Operating EBITDA3 $1,252 $1,400 Adjusted Pro Forma Operating EBITDA Margin4 29% 30% Carve-Out 2024 & Estimated 2025 Results Adjusted Pro Forma Carve-Out 2024 & Estimated 2025 Results Note: 2025E represent estimated results as of November 6, 2025. 1) Net Sales has been derived from our historical combined financial statements, which were prepared on a carve-out basis as we did not operate as a stand-alone entity in 2024 or during the period ended September 30, 2025. The estimated financial information and metrics presented have been voluntarily provided and reflect Qnity on a projected standalone basis. 2) Carve-Out Adjusted Operating EBITDA is a non-GAAP financial measure and is defined as earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items. 3) Adjusted Pro Forma Operating EBITDA is a non-GAAP financial measure and is defined as Pro Forma earnings (i.e., “ Pro Forma Income before income taxes") before Pro Forma adjustments related to interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items. Includes the pro forma and management adjustments expected to be incurred annually following spin- off related to stand-alone public company costs. 4) Adjusted Operating EBITDA Margin is defined as Adjusted Operating EBITDA divided by Net Sales. Adjusted Pro Forma Operating EBITDA Margin is defined as Adjusted Pro Forma Operating EBITDA divided by Net Sales. 5) For the purpose of 2025E full year estimated results, we have included the full amount of interest expense in the pro forma results. A portion of this expense will be reflected in Carve results due to the issuance of the Senior Secured Notes and Senior Unsecured Notes in August 2025 and the Senior Secured Term Loan Facility entered into at the time of spin. We will provide updated final Q3 2025 results at the time of our 3Q 2025 10-Q filing. 6) Pro forma Other Expenses includes litigation/environmental/legal costs, restructuring expense, and non-operating pension credit. 7) Reflects the management adjustment expected to be incurred following spin-off related to stand alone public company costs. The adjustment is not reflected net of tax. This is incremental to corporate costs reflected in the Carve-Out Adjusted Operating EBITDA.
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Nahla A. Azmy VP , Investor Relations Email: Nahla.azmy@qnity electronics.com Cell: +1 (302) 518-1001