Albemarle (ALB) investor relations material

Strategic position and leadership

• FY 2025 net sales were $5.1B and adjusted EBITDA margin was ~21%; Energy Storage represented 53% of sales, Specialties 26% and Ketjen 21%.

• Rag Udd was named incoming President and CEO, effective February 1, 2027; Kent Masters will transition to Executive Chairman.

• Energy Storage volumes target 15% CAGR from 2022 to 2027, with a goal of doubling LCE sales volume over that period.

Capital allocation and financial position

• FY26 capex guidance reduced to $300M-$350M; sustaining capital expected below $300M as project spend is resequenced and optimized.

• 2026 YTD cost and productivity improvements exceeded $150M; YTD free cash flow was $1.2B, and operating cash flow conversion was at the high end of the 60%-70% long-term target range.

• Q3 2026 net debt to adjusted EBITDA was 0.3x after $1.3B of debt repayment; weighted-average interest rate fell to 3.1% from 3.9%, reducing annual interest expense by ~$60M.

Segment performance and 2026 outlook

• Specialties Q3 net sales rose 13% YoY to $389M; adjusted EBITDA increased 31% to $99M and margin expanded 350 bps to 25%. FY26 outlook: $1.4B-$1.6B sales and $350M-$375M adjusted EBITDA.

• Energy Storage Q3 net sales rose 58% YoY to $1.119B; adjusted EBITDA increased 351% to $560M, with a 50% margin. Sales volume was 56kt LCE at a $20/kg average realized price.

• Energy Storage FY26 sales volume outlook remained 225-235kt LCE; at a $20/kg lithium scenario, sales are projected at $4.0B-$4.2B and adjusted EBITDA at $2.1B-$2.3B.

• Total FY26 outlook scenarios: at $10/kg LCE, sales of $4.1B-$4.3B and adjusted EBITDA of $0.9B-$1.0B; at $20/kg, $5.7B-$6.0B and $2.4B-$2.6B; at $30/kg, $7.5B-$7.8B and $4.2B-$4.4B.