Koppers Holdings Inc. · NYSE:KOP
Koppers — Investor Presentation (April 2026)
45 slides from Koppers's investor presentation, April 2026
Slide 1: Investor Presentation March-April 2026
Investor Presentation March-April 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Kopp
Slide 3: Company Highlights
KOPPERS = Company Highlights
Slide 4: Investment Thesis
Investment Thesis Inflection point in strategy with major capital projects completed and expected to return significant improvement in the near-term with additional long-term upside potential Market leader in critical end markets positioned to 'Expand and Optimize’—through improving cost structure a
Slide 5: Leader in Providing Critical Infrastructure Products
Leader in Providing Critical Infrastructure Products Railroad Koppers Currently Supplies Largest Supplier of Crossties Products & to Class I Railroads in North America Services All 6 North American Utility & Class I Railroads Leading Supplier of Utility Poles in Industrial the U.S. and Australia Pro
Slide 6: Balanced Portfolio Generates Counter Cyclicality
Balanced Portfolio Generates Counter Cyclicality Sales by Sales by Sales by Adjusted EBITDA by RUPS | CMC | PC End Market Geography Segment Segment ~140M poles in existing, aging network; expected to replace 2M to 6% 10% 2.5M poles per year1 16% 29% 9% 29% 40% 2025 2025 2025 2025 42% 49% Adjusted Sa
Slide 7: Business Segment Overview
Business Segment Overview Leading provider of market applications Global leader in water- and oil-borne preservatives for treated wood Railroad and Utility Products and Services Performance Chemicals Carbon Materials and (RUPS) (PC) Chemicals (CMC) • Net Sales: $927 Million • Net Sales: $544 Million
Slide 8: Strategic Transformation Process: Catalyst
Strategic Transformation Process: Catalyst
Slide 9: Strategic Transformation | Catalyst
Strategic Transformation | Catalyst Koppers is in the final multi-year phase of our transformation process, Catalyst. Our Transformation Office has involved hundreds of individuals throughout the organization to identify, evaluate, scope, quantify, plan, and execute hundreds of Progress commercial a
Slide 10: Commitment To Sustainability
Commitment To Sustainability
Slide 11: Enduring | Essential | Sustainable
Enduring | Essential | Sustainable Enduring Essential Sustainable Our vertically-integrated Our products and services Our connection to a broad business is time tested and compete in markets that are network of communities, has been shown to perform mission critical. Industries organizations and sta
Slide 12: People | Planet | Performance
People | Planet | Performance • Koppers 6th year earning a spot on the list. • Highlights 600 companies that are taking action each day to uphold their social responsibility. • Rankings are based on more than 30 KPIs in environmental, social and governance performance, financial results, and more. •
Slide 13: Appendix
Appendix ) N Ww KOPPER’
Slide 14: Q4 & Full-Year 2025 Financials
Q4 & Full-Year 2025 Financials
Slide 15: Key Takeaways: Full-Year 2025
Key Takeaways: Full-Year 2025 HIGHLIGHTS BUSINESS TRANSFORMATION $256.7M Adjusted EBITDA* – 2nd highest year on record • Launched Implementation phase of Catalyst Transformation Process 13.7% Adjusted EBITDA Margin* – 2nd highest year on record • Ceased production at our CMC phthalic anhydride plant
Slide 16: Q4 2025: Sales by Segment (Unaudited)
Q4 2025: Sales by Segment (Unaudited) Sales vs. Prior Year $ in Millions $600 $500 -9.3% $477 $400 $433 $300 -3.2% $200 $209 $216 -13.6% -15.2% $100 $148 $128 $114 $96 $0 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 RUPS PC CMC TOTAL Note: Segment amounts may not agree with consol
Slide 17: 2025: Sales by Segment (Unaudited)
2025: Sales by Segment (Unaudited) Sales vs. Prior Year $ in Millions $2,200 $2,000 -10.2% $1,800 $1,879 $2,092 $1,600 $1,400 $1,200 $1,000 -1.7% $800 $943 $927 $600 -16.5% $652 -17.9% $400 $544 $498 $200 $409 $0 2025 2024 2025 2024 2025 2024 2025 2024 RUPS PC CMC TOTAL Note: Segment amounts may not
Slide 18: Q4 2025: Adjusted EBITDA by Segment (Unaudited)
Q4 2025: Adjusted EBITDA by Segment (Unaudited) Adjusted EBITDA $ and % vs. Prior Year $ in Millions $60 11.6% 12.3% $50 $53 $55 $40 $30 21.8% 19.3% $28 $29 10.4% $20 8.1% $22 $18 8.0% $10 $9 3.7% $4 $0 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 RUPS PC CMC TOTAL Note: Segment a
Slide 19: 2025: Adjusted EBITDA by Segment (Unaudited)
2025: Adjusted EBITDA by Segment (Unaudited) Adjusted EBITDA $ and % vs. Prior Year $ in Millions $300 13.7% 12.5% $250 $257 $262 $200 $150 21.9% $143 11.7% 18.9% $100 8.7% $103 $108 11.2% $50 $82 7.4% $46 $37 $0 2025 2024 2025 2024 2025 2024 2025 2024 RUPS PC CMC TOTAL Note: Segment amounts may not
Slide 20: Q4 2025 RUPS Segment
Q4 2025 RUPS Segment RAILROAD AND UTILITY PRODUCTS AND SERVICES Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $225 $25 Highlights Highlights $216 $200 $209 • Decrease in sales primarily driven by: $22 • Profitability was higher due to: $20 $175 ✓ $4.7M of lower volumes fr
Slide 21: Q4 2025 PC Segment
Q4 2025 PC Segment PERFORMANCE CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $150 Highlights Highlights $148 • Decline in sales was primarily $30 • Profitability was slightly lower $125 $128 due to: $29 due to: $28 ✓ 15.7% volume decrease ✓ Lower sales volumes $
Slide 22: Q4 2025 CMC Segment
Q4 2025 CMC Segment CARBON MATERIALS AND CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $120 Highlights Highlights $114 $10 • Lower sales were primarily • Profitability decreased due to: $100 driven by: ✓ Net sales price decreases $96 $9 ✓ $16.6M of volume decrea
Slide 23: Capital Allocation
Capital Allocation
Slide 24: Uses of Cash: Balanced Approach
Uses of Cash: Balanced Approach Investing in Our Future Quarterly Dividend • $12M for termination of U.S. pension plan • On February 11, Board of Directors declared • $20.7M deployed for an acquisition quarterly dividend of $0.09 per share ($0.08 per share in 2025) • $47.6M capital expenditures in 2
Slide 25: 2025 Capital Expenditures
2025 Capital Expenditures ($ in Millions) Growth & Year-to-Date CapEx by Business Unit Maintenance Zero Harm Productivity Total RUPS $16.5 $1.0 $1.7 $19.2 PC 10.0 3.8 1.4 15.2 CMC 17.2 1.0 0.7 18.9 Corporate 0.9 --- 0.8 1.7 Total $44.6 $5.8 $4.6 $55.0 Less: Cash proceeds from asset sales and insuran
Slide 26: Increasing Quarterly Cash Dividend
Increasing Quarterly Cash Dividend February March March 2.11.26 3.6.26 3.23.26 Dividend Record Payment Declaration Date Date Board of Directors approved 12.5% increase in planned quarterly dividend to $0.09 per share of Koppers common stock in 2026. 26
Slide 27: Business Sentiment
~- Business Sentiment « ery
Slide 28: State of the Business: Performance Chemicals
State of the Business PC: PERFORMANCE CHEMICALS 2026 Market Outlook: • Market share capture in both residential and industrial markets support an 11% expected increase in sales revenue • External indicators and customer sentiment range from neutral to slightly positive for base sales activity • Exis
Slide 29: State of the Business: Utility and Industrial Products
State of the Business RUPS: UTILITY AND INDUSTRIAL PRODUCTS 2026 Market Outlook: • Market sentiment remains bullish mainly due to increasing electrical demand related to buildout of AI infrastructure o Crypto mining, EV development, and new manufacturing should also contribute to increased electrica
Slide 30: State of the Business: Railroad Products and Services
State of the Business RUPS: RAILROAD PRODUCTS AND SERVICES 2026 Market Outlook: • Industry consolidation continuing to impact market trends and resulting in reduced capital spend by railroads • We have been balancing reduced expectations with sharp cost reduction actions pushing profitability to lev
Slide 31: State of the Business: Carbon Materials and Chemicals
State of the Business CMC: CARBON MATERIALS AND CHEMICALS 2026 Market Outlook: • Overall carbon markets remain in turmoil as evidenced by Q4 ‘25 financial results • Structural improvements made in 2025 that included closing our phthalic anhydride plant and Catalyst initiatives are being offset in ne
Slide 32: 2026 Guidance
2026 Guidance (iil
Slide 33: 2026 Sales Forecast: $1.9B - $2.0B
2026 Sales Forecast: $1.9B - $2.0B Sales ($ in Millions) $2,100 ($45M) - $25M $1.9B - $2.0B $2,000 $35M-$50M $30M -$45M $1,900 $1.88B $1,800 $1,700 2025 RUPS PC CMC 2026 33
Slide 34: 2026 Adjusted EBITDA Forecast: $250M - $270M
2026 Adjusted EBITDA Forecast: $250M - $270M Adjusted EBITDA* ($ in Millions) $280 $9M-$15M $250M-$270M $270 $2M-$8M $260 $257M $250 ($18M)-($10M) $240 $230 $220 2025 RUPS PC CMC 2026 * Excluding special charges 34
Slide 35: 2026 Adjusted EPS Forecast: $4.20 - $5.00
2026 Adjusted EPS Forecast: $4.20 - $5.00 Adjusted EPS* $5.50 $0.34-$0.39 $0.08 $4.20-$5.00 $5.00 $0.07-$0.13 ($0.34)-$0.66 ($0.02)-($0.33) $4.50 $4.07 $4.00 $3.50 $3.00 2025 Operations Interest Taxes D&A Other 2026 * Excluding special charges 35
Slide 36: 2026 Free Cash Flow Forecast
2026 Free Cash Flow Forecast $190 $16M $170 $160M ($7M) $12M $150 $7M $6M $130 $3M $123M $110 $105M ($55M) ($7M) $90 $58M-$78M $70 ($20M)-($40M) $50 $30 2025 OCF Operations Interest Restructuring Pension Working Taxes 2026 OCF CAPEX 2026 FCF Dividend Share FCF for Debt (midpoint) Settlement Capital
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations ) KOPPER Nn iu (
Slide 38: Non-GAAP Measures & Guidance
Non-GAAP Measures & Guidance This presentation includes unaudited “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934, including adjusted EBITDA, adjusted EBITDA margin, adjusted EPS, net debt, adjusted SG&A and net leverage ratio. Koppers believes that
Slide 39: Unaudited Segment Information
Unaudited Segment Information Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (Dollars in millions) Net sales: Railroad and Utility Products and Services $ 208.7 $ 215.6 $ 926.8 $ 942.7 Performance Chemicals 127.8 147.9 543.8 651.6 Carbon Materials and Chemicals 96.2 113.
Slide 40: Reconciliation of Net Income to Adjusted EBITDA and Margin
Unaudited Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (Dollars in millions) Net income (loss) $ 29.7 $ (10.2) $ 56.0 $ 48.6 Interest expense 15.5 18.3 66.1 76.2 Depreciation and amortization 20
Slide 41: Reconciliation to Adjusted Net Income and Adjusted EPS
Unaudited Reconciliations of Net Income Attributable to Koppers to Adjusted Net Income Attributable to Koppers and Diluted EPS and Adjusted EPS Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (Dollars in millions, except share and per share amounts) Net income (loss) attr
Slide 42: Reconciliation of Total Debt to Net Debt and Net Leverage Ratio
Unaudited Reconciliation of Total Debt to Net Debt and Net Leverage Ratio Year Ended December 31, 2025 2024 (Dollars in millions) Total Debt $ 919.2 $ 930.8 Less: Cash 38.0 43.9 Net Debt $ 881.2 $ 886.9 Adjusted EBITDA $ 256.7 $ 261.6 Net Leverage Ratio 3.4 3.4 42
Slide 43: Reconciliation of SG&A to Adjusted SG&A
Reconciliation of Selling, General & Administrative to Adjusted Selling, General & Administrative Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 (Dollars in millions) Selling, general and administrative $ 36.8 $ 44.0 $ 154.9 $ 179.3 Adjustments: Amortization of cloud-bas
Slide 44: Koppers Holdings Inc. 436 Seventh Avenue Pittsburgh, PA 15219-1800
KOPPERS World Headquarters Pittsburgh, Pennsylvania, USA Koppers Holdings Inc. 436 Seventh Avenue Pittsburgh, PA 15219-1800 Koppers is an integrated global provider of essential treated wood products, wood preservation technologies and carbon compounds. Our team of approximately 1,850 employees crea
Slide 45: koppers.com
— KOPPER —— koppers.com Mugu! \
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