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Tronox Reports Third Quarter 2021 Financial Results Achieved Record Adjusted EBITDA and Free Cash Flow Despite Ongoing Supply Chain and Inflationary Challenges STAMFORD , Conn . , Oct. 27 , 2021 / PRNewswire / - Tronox Holdings plc ( NYSE : TROX ) ( " Tronox ” or the " Company " ) , the world's leading integrated manufacturer of titanium dioxide pigment , today reported its financial results for the quarter ending September 30 , 2021 : TRONOX Third Quarter 2021 Financial Highlights : • Revenue of $ 870 million , an increase of 29 % year over year , driven by higher TiO2 , zircon and pig iron average selling prices and higher TiO2 and zircon volumes • • Income from operations of $ 168 million and net income of $ 113 million GAAP diluted EPS of $ 0.70 and adjusted diluted EPS of $ 0.72 ( non - GAAP ) • • • Adjusted EBITDA of $ 252 million , in line with guidance , and an Adjusted EBITDA margin of 29 % ( non- GAAP ) Record $ 191 million in free cash flow after $ 65 million in capital expenditures Reduced total debt to $ 2.7 billion , resulting in a net leverage ratio of 2.6x , within the communicated long- term targeted range of 2.0x - 3.0x and ahead of the 2023 timeframe Q4 2021 Summary Outlook : • TiO2 sales volumes expected to be flat to down mid - single digits sequentially • Adjusted EBITDA expected to be $ 230- $ 245 million Note : For the Company's guidance with respect to fourth quarter 2021 Adjusted EBITDA , we are not able to provide without unreasonable effort the most directly comparable GAAP financial measure , or reconciliation to such GAAP financial measure , because certain items that impact such measures are uncertain , out of the Company's control or cannot be reasonably predicted . 1 | Page