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Second Quarter 2026 Financial Results Earnings webcast August 4, 2026
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2 Forward looking statements On November 1, 2025, we completed the spin-off (the “Spin-Off”) from DuPont de Nemours, Inc. ("DuPont"), 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,“ “outlook,” "plan," "project," "believe," "seek," "see," "will," "would," "target," “stabilization,” “confident,” “preliminary,” “initial,” ”drive,” “innovate” and similar expressions and variations or negatives of these words. Statements that describe or relate to the market, industry and macroeconomic environment, Qnity's business plans or prospects, goals, intentions, strategies, future operating or financial performance, outlook, including without limitation statements regarding Qnity’s strategic path, operating model, transformation plan and its expected costs and benefits and timing thereof, share repurchases, 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 outcomes and results to differ materially from those projected in any such forward-looking statements including Qnity’s ability to realize the anticipated benefits of its multi-year transformation plan in the anticipated timeframe or at all and the risk that the costs of such plan may be higher than currently anticipated; the competitive environment in which Qnity operates; the risks from Qnity’s international operations, including geopolitical uncertainty and conflict, trade restrictions and sanctions laws; Qnity’s ability to comply with complex and increasing legal and regulatory requirements; the ability to realize the intended benefits of Qnity’s spin off from DuPont, including achievement of the anticipated synergies and operational efficiencies in connection with the spin off and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; contractual allocation of certain liabilities in connection with the spin-off; and the possibility of disputes, litigation or unanticipated costs in connection with the spin-off. Additional information concerning risks and uncertainties can be found in Qnity's filings with the U.S. Securities and Exchange Commission (the “SEC”), including under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2026, and in Qnity’s future filings with the SEC. 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.
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3 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 basis by DuPont and a stand -alone basis. These non -GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP and reflect results in a manner that enables, in some instances, more meaningful analysis of trends and facilitates comparison of results across periods. These non -GAAP financial measures 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. Adjusted Earnings is defined as net income available for Qnity common stockholders excluding the after -tax impacts of significant items, amortization expense of intangibles, non -operating pension / other post -employment benefits (“OPEB”) credits / costs, and indirect legacy costs/benefits and adjusted for the income tax effect of these excluded items. Adjusted Earnings is the numerator used in the calculation of Adjusted EPS. Adjusted EPS is defined as Adjusted Earnings per common share - diluted. Base Tax Rate is a non -GAAP measure defined as the GAAP Effective Tax Rate excluding the tax rate impacts of adjustments to net income available for Qnity common stockholders in determining Adjusted Earnings. Adjusted Operating EBITDA is defined as Pre-tax Earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non -operating pension / OPEB benefits credits / costs, foreign exchange gains / losses , indirect legacy costs / benefits, and adjusted for significant items. Adjusted Operating EBITDA Margin is defined as Adjusted Operating EBITDA divided by Net Sales. Adjusted Free Cash Flow is defined as cash provided by/used for operating activities less capital expenditures and excluding the impact of indirect legacy costs/benefits related to cost sharing arrangements executed between DuPont and Qnity at the time of separation, IT independence costs, and transformation, integration, and other charges, as well as cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither relate to the ordinary course of the Company's underlying business liquidity. 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. Within this definition, management classifies as significant items certain costs and expenses associated with transformation, integration, and other charges related to transformational activities, including acquisitions and divestitures, as they are considered unrelated to ongoing business performance. Indirect legacy costs/benefits relate to cost sharing arrangements executed between DuPont and Qnity at the time of the Spin-Off. Such costs include certain litigation and environmental -related shared costs, taxes, and indirect cost sharing arrangements, and are excluded from Adjusted Earnings, Adjusted Operating EBITDA, and Adjusted Free Cash Flow, as defined above, as they are considered unrelated to ongoing Qnity business performance. Organic Sales is defined as net sales excluding the impacts of currency and portfolio actions. Adjusted gross profit is calculated as Gross Profit (net sales less cost of sales), excluding the impact of Significant items on Net Sales and Cost of Sales and the impact on Cost of Sales from certain services associated with transaction agreements entered with DuPont, including the Transition Services Agreement, certain product service agreements, contract manufacturing agreements, raw materials supply agreements, and site services agreements. Qnity has also presented measures on a pro forma basis which were prepared in a manner consistent with Article 11 of Regulation S -X. Our pro forma results give effect to the Spin -Off and related transactions as if they occurred on January 1, 2025. Our pro forma adjustments reflect: Interest expense associated with our current debt structure; the impact of the Transition Services Agreements and other commercial agreements entered into with DuPont in connection with the Spin- Off; and Transaction and other incremental costs required to operate as a stand -alone entity. We believe pro forma measures are helpful to supplement our financial results as they allow a comparison of results as a stand -alone company as if the agreements were in place for the periods presented. Adjusted Pro Forma Earnings is defined as Reported Earnings, net income available for Qnity common stockholders excluding the after -tax impacts of significant items, amortization expense of intangibles, non -operating pension / other post-employment benefits credits / costs, and indirect legacy costs/benefits, less the after -tax impacts of the pro forma adjustments described above and adjusted for the income tax effect of these excluded items. Adjusted Pro Forma Earnings is the numerator used in the calculation of Adjusted Pro Forma EPS. Adjusted Pro Forma EPS is defined as Adjusted Pro Forma Earnings per common share - diluted. Adjusted Pro Forma Base Tax Rate is a non -GAAP measure defined as the Base Tax Rate adjusted to reflect the estimated income tax effects of the pro forma adjustments described above. Adjusted Pro Forma Operating EBITDA is defined as Adjusted Operating EBITDA less certain pro forma adjustments described above. Adjusted Pro Forma Operating EBITDA Margin is defined as Adjusted Pro Forma Operating EBITDA divided by Net Sales. Adjusted Pro Forma Free Cash Flow is defined as pro forma cash provided by/used for operating activities less capital expenditures and excluding the impact of indirect legacy costs/benefits related to cost sharing arrangements executed between DuPont and Qnity at the time of Spin -Off, IT independence costs, acquisition, integration, and separation costs, and transaction and other incremental costs required to operate as a stand -alone entity, as well as cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither relate to the ordinary course of the Company's underlying business liquidity. Adjusted Pro Forma Gross Profit is calculated as Gross Profit (net sales less cost of sales), excluding the impact on Cost of Sales from certain services associated with transaction agreements entered with DuPont, including the Transition Services Agreement, certain product service agreements, contract manufacturing agreements, raw materials supply agreements, and site services agreements.
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4 Key takeaways 4 Strong organic growth momentum driven by the industry’s shift toward shrink and stack End market mix evolution continues toward high value AI-led applications, creating durable long- term growth opportunities Raised full year guidance across all metrics given ongoing demand tailwinds and strong execution 22% Q2 Organic Sales1 Growth 24% Q2 Adjusted Operating EBITDA1 Growth 53% Q2 Adjusted EPS1 Growth 1) Organic Sales, Adjusted Operating EBITDA, and Adjusted EPS are non-GAAP measures. Note, the comparative period (Q2 2025) is presented on a pro forma basis that gives effect to each metric as if the Spin-Off had occurred on January 1, 2025. Reconciliations to the most directly comparable GAAP measure, including details of significant items and pro forma adjustments, can be found in the “Non-GAAP financial measures” and “Reconciliations” sections of this presentation.
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5 Qnity Q2 Financial Performance Net Sales1 (in $ millions) Adjusted Operating EBITDA 2 (in $ millions) Margin 3: Q2 2025 Q2 2026 $ 347 $ 431 Q2 2025 Q2 2026 +24% Key Drivers of Q2 2026 Above Market Growth Net Sales1 • Continued momentum led by the shift toward shrink and stack • Strategic growth platforms continue to be advanced nodes, advanced packaging and interconnects, and thermal management Adjusted Operating EBITDA 2 and Margin3 • Strong volumes and operating leverage offset by mix and ongoing strategic growth investments 29.7% 30.2% 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 during the period ended June 30, 2025. 2) Adjusted Operating EBITDA is a non-GAAP financial measure and is defined as pre-tax earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits credits / costs, foreign exchange gains / losses, indirect legacy costs/benefits, and adjusted for significant items. 3) Adjusted Operating EBITDA Margin is defined as Adjusted Operating EBITDA divided by Net Sales. Note, the comparative period (Q2 2025) is presented on a pro forma basis that gives effect to each metric as if the Spin-Off had occurred on January 1, 2025. Reconciliations to the most directly comparable GAAP measure, including details of significant items and pro forma adjustments, can be found in the “Non-GAAP financial measures” and “Reconciliations” sections of this presentation. +22% $1,429 $1,170
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6 $ 644 $ 744 Q2 2025 Q2 2026 Semiconductor Technologies Net Sales1 (in $ millions) Adjusted Operating EBITDA 2 (in $ millions) Margin 3: $ 224 $ 253 Q2 2025 Q2 2026 +13% Key Drivers of Q2 2026 Above Market Growth Net Sales1 • Strong demand and content gains driven by greater than 20% year-over-year growth in advanced nodes • Continued broad-based improvement in fab utilization rates across the industry Adjusted Operating EBITDA 2 and Margin3 • Strong volume and shifts towards advanced nodes offset by product mix and strategic growth investments 34.8% 34.0% +16% 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 during the period ended June 30, 2025. 2) Adjusted Operating EBITDA is a non-GAAP financial measure and is defined as pre-tax earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits credits / costs, foreign exchange gains / losses, indirect legacy costs/benefits, and adjusted for significant items. 3) Adjusted Operating EBITDA Margin is defined as Adjusted Operating EBITDA divided by Net Sales. Note, the comparative period (Q2 2025) is presented on a pro forma basis that gives effect to each metric as if the Spin-Off had occurred on January 1, 2025. Reconciliations to the most directly comparable GAAP measure, including details of significant items and pro forma adjustments, can be found in the “Non-GAAP financial measures” and “Reconciliations” sections of this presentation.
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7 $ 526 $ 685 Q2 2025 Q2 2026 Interconnect Solutions Net Sales1 (in $ millions) Adjusted Operating EBITDA 2 (in $ millions) Margin 3: $ 136 $ 197 Q2 2025 Q2 2026 +45% Key Drivers of Q2 2026 Above Market Growth Net Sales1 • >50% year-over-year growth across strategic growth platforms of advanced packaging, AI PCBs, and thermal management solutions • Sustained strength in premium consumer electronics, auto, and other industrial Adjusted Operating EBITDA 2 and Margin3 • Strong volume and operating leverage with favorable mix 25.9% 28.8% +30% 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 during the period ended June 30, 2025. 2) Adjusted Operating EBITDA is a non-GAAP financial measure and is defined as pre-tax earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits credits / costs, foreign exchange gains / losses, indirect legacy costs/benefits, and adjusted for significant items. 3) Adjusted Operating EBITDA Margin is defined as Adjusted Operating EBITDA divided by Net Sales. Note, the comparative period (Q2 2025) is presented on a pro forma basis that gives effect to each metric as if the Spin-Off had occurred on January 1, 2025. Reconciliations to the most directly comparable GAAP measure, including details of significant items and pro forma adjustments, can be found in the “Non-GAAP financial measures” and “Reconciliations” sections of this presentation.
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8 Guidance at Q1 Current Guidance Mid-point Increase Net Sales $5.225B - $5.375B $5.55B - $5.65B + $300M Adjusted Operating EBITDA1 $1.535B - $1.625B $1.675B - $1.725B + $120M Adjusted EPS2 $3.80 - $4.14 $4.40 - $4.60 + $0.53 Adjusted Free Cash Flow3 $500M - $600M $600M - $700M + $100M Raising FY 2026 Financial Guidance We calculate forward-looking Adjusted Operating EBITDA, Adjusted EPS, and Adjusted Free Cash Flow based on internal forecasts that exclude certain information that would be included in the most directly comparable forward-looking GAAP measures. We are not providing a quantitative reconciliation of forward-looking Non-GAAP financial measures to the corresponding GAAP financial measure for these measures due to the unreasonable effort and uncertainty in estimating certain items necessary for such reconciliations, including adjustments that could be made for significant items, interest expense, indirect legacy costs/benefits, restructurings, acquisition, integration, and separation costs, share-based compensation amounts, non-recurring, unusual or unanticipated charges, expenses or gains. 1) AdjustedOperating EBITDA is defined asPre-tax Earnings (i.e., “Income before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, foreign exchange gains /losses , indirect legacy costs/benefits, and adjusted for significant items.2) Adjusted EPS is defined as Adjusted Earnings per common share - diluted. Adjusted Earnings is defined as net income excluding the after-tax impactsof significant items, amortization expense of intangibles, non-operating pension / other post-employmentbenefits credits / costs, and indirect legacy costs/benefits. Adjusted Earnings is the numerator used in the calculation of Adjusted EPS.3) Adjusted Free Cash Flow is defined as cash provided by/used for operating activities less capital expenditures and excluding the impact of indirect legacy costs/benefits related to cost sharing arrangements executed between DuPont andQnity at the time of Spin-Off, IT independence costs, and separation-related transaction cost, as well as cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither relate to the ordinary course of the Company's underlying business liquidity.
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9 Appendix
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10 Income Statement Highlights Depreciation ~$195-$200M, pre-tax Intangible Amortization ~$200-$205M, pre-tax Base Tax Rate1 ~21% Interest Expense, Net2 $240-250M, pre-tax Share Count – Diluted (Weighted Average) ~210.3 million Updated Additional Full Year 2026 Modeling Considerations We calculate forward -looking base tax rate based on internal forecasts that exclude certain information that would be included in the most directly comparable forward -looking GAAP measures. We are not providing a quantitative reconciliation of forward -looking Non -GAAP financial measures to the corresponding GAAP financial measu re for this measures due to the unreasonable effort and uncertainty in estimating certain items necessary for such reconciliations, including adjustments that could be made for significant items, interest expense, indirect legacy costs/benefits, restructurings, acquisition, integration, and separation costs, share -based compensation amounts, non -recurring, unusual or unanticipated charges, expenses or gains. 1) Base Tax Rate is a non -GAAP measure defined as the GAAP Effective Tax Rate excluding the tax rate impacts of adjustments to n et income available for Qnity common stockholders in determining Adjusted Earnings. 2.) Interest expense, net offset by interest income. Capex Highlights Capital Expenditures ~$450 - $470M
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11 Qnity: 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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12 Our Capital Allocation Priorities Strong Free Cash Flow Generation Organic Reinvestment Opportunistic M&A Leverage Management Capital Returns Prioritizing organic reinvestment while balancing capability-enhancing M&A, capital returns, and financial strength Strong free cash flow supports a disciplined, returns -focused capital allocation framework
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13 Reconciliations
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15 1. Net income available for Qnity common stockholders. 2. Earnings per common share - diluted. 3. All Non-GAAP Adjustments are shown on a pre-tax basis with the exception of "Income Tax Items" and "Tax effect of Non-GAAP Adjustments" 4. Q2 2026 Transformation, integration and other charges primarily consisted of costs incurred to support the Company’s information technology independence initiatives of approximately $24 million, costs related to transformation initiatives of approximately $8 million, other integration-related costs of approximately $3 million, and severance and other asset-related charges of approximately $7 million. Q2 2025 relates to pre-separation severance charges. 5. The gain on sale of assets was attributable to the sale of land during the three months ended June 30, 2026. 6. Q1 2026 income tax items reflect significant non-recurring tax costs on the remittance of foreign earnings. 7. The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. 8. Reflects the after tax incremental interest expense related to our current debt structure in the amount of $61 million for the three months ended June 30, 2025. 9. Reflects the after tax incremental costs required to operate as a stand- alone entity in the amount of $9 million for the three months ended June 30, 2025. 10. Reflects the after tax net benefit of the Transition Services Agreements and other commercial agreements entered into with DuPont in connection with the Spin-Off in the amount of $3 million for the three months ended June 30, 2025. 11. Adjusted Pro Forma Earnings Per Share is calculated based on Adjusted Pro Forma Earnings divided by common shares – diluted of 210.2 million shares, 209.4 million, and 210.3 million shares as of June 30, 2026, June 30, 2025 and March 31, 2026, respectively. 15
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16 1. Net income available for Qnity common stockholders. 2. Earnings per common share - diluted. 3. All Non-GAAP Adjustments are shown on a pre-tax basis with the exception of "Income Tax Items" and "Tax effect of Non-GAAP Adjustments" 4. Transformation, integration and other charges for the six months ended June 30, 2026 primarily consisted of costs incurred to support the Company’s information technology independence initiatives of approximately $48 million, costs related to transformation initiatives of approximately $10 million, other integration-related costs of approximately $6 million, and severance and other asset-related charges of approximately $6 million. Q2 2025 relates to pre-separation severance charges. 5. Reflects accrued interest earned on employee retention credits and is recorded in “Interest income” within the “Other income (expense) - net” line item in the Company’s Consolidated Statements of Operations. 6. The gain on sale of assets was attributable to the sale of land during the six months ended June 30, 2026. 7. Income tax items for the six months ended June 30, 2026 reflect significant non-recurring tax costs on the remittance of foreign earnings. 8. The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. 9. Reflects the after tax incremental interest expense related to our current debt structure in the amount of $124 million for the six months ended June 30, 2025. 10. Reflects the after tax incremental costs required to operate as a stand- alone entity in the amount of $26 million for the six months ended June 30, 2025. 11. Reflects the after tax net benefit of the Transition Services Agreements and other commercial agreements entered into with DuPont in connection with the Spin-Off in the amount of $5 million for the six months ended June 30, 2025. 12. Adjusted Pro Forma Earnings Per Share is calculated based on Adjusted Pro Forma Earnings divided by common shares – diluted of 210.3 million shares, and 209.4 million shares for the six month periods ended June 30, 2026, and June 30, 2025, respectively. 16
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22 22 Selected Financial Information and Non-GAAP Measures
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