Orion S.A. (OEC) Gabelli Funds' 16th Annual Specialty Chemicals Symposium summary

Strategic initiatives and market positioning

• Plans to commercialize a corrosion-resistant molecule by end of 2026, with a unique competitive position as 3M exits the PFAS market.

• Manufacturing footprint and supply chain details to be shared with shareholders in upcoming months.

• Two-phase immersion cooling technology highlighted as an innovative opportunity.

Industry trends and supply dynamics

• Recent shutdowns in European TiO2 production seen as balancing capacity, with limited direct impact but potential for market share gains in Europe.

• Customers are maintaining low inventories and buying on an as-needed basis, with no major restock expected in the near term.

• Seasonal demand expected in Q2, but high interest rates and weak housing market temper growth expectations.

Regulatory and legal environment

• European PFAS liabilities are managed on a country-by-country basis, with exposure considered much lower than in the U.S.

• Recent events, such as the Kitchen Gardens Reserve, are noted but overall exposure is contained and focused on specific municipalities.