Albemarle Corporation · NYSE:ALB
Albemarle — Q3 2026 Earnings Presentation
34 slides from Albemarle's earnings presentation, November 2026
Slide 1: Q3 2026 Earnings
Q3 2026 Earnings November 5, 2026 8:00am ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations and beliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o
Slide 3: Non-GAAP Measures
Non-GAAP Measures It should be noted that adjusted net income attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted income (loss) per share attributable to common shareholders, non-operating pension and other pos
Slide 4: Q3 2026: Solid Quarterly Results
Q3 2026: Solid Quarterly Results Disciplined Execution Enables Earnings & Cash Flow Growth STRONG Q3 RESULTS DEMONSTRATE FOCUSED OPERATIONAL EXECUTION: Net sales of $1.6B (+19% Y/Y); higher pricing in Energy Storage (+68%); higher pricing (+10%) and volumes (+3%) in Specialties Adj. EBITDA1 of $
Slide 5: Q3 2026 Financial Summary
Q3 2026 Financial Summary In millions, except per share amounts Q3 2026 Q3 2025 Variance Net Sales $1,553 $1,308 +19% Net Income (Loss) Attributable to Albemarle Corporation $297 ($161) NM3 Adjusted EBITDA1 $646 $226 +186% Adjusted EBITDA Margin1 42% 17% +2,430 bps Diluted Income (Loss) per Share At
Slide 6: Q3 Adjusted EBITDA Bridges
Q3 Adjusted EBITDA1 Bridges ($ in millions) Q3 2026 vs 2025 Y/Y – BY DRIVER Higher pricing in both segments; higher $513 volumes in Specialties $214 $17 ($47) $646 Higher COGS Y/Y primarily reflects ($292) processing of higher-priced spodumene $14 inventory and increased Chilean $226 commissions, of
Slide 7: Maintaining Total Company 2026E Outlook Considerations
Maintaining Total Company 2026E Outlook Considerations1 OBSERVED LITHIUM MARKET PRICE SCENARIOS: (US$/kg LCE)2 Strong year-to-date performance has trended towards the higher FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-25 avg. end of the $20 scenario, driven by: $10 $10 $20 $30 Increased Specialties
Slide 8: Specialties Overview
Specialties Overview QUARTERLY PERFORMANCE DRIVERS Q3 net sales up 13% Y/Y due to higher pricing and volume; adj. Q3 2026 Performance In Millions EBITDA up 31%, due to higher pricing and volumes and cost and Q3 2026 Y/Y productivity improvements Net Sales $389 +13% Record quarterly production at
Slide 9: Energy Storage Overview
Energy Storage Overview QUARTERLY PERFORMANCE DRIVERS Q3 2026 sales volumes of 56kt LCE, at $20/kg LCE average Q3 2026 Performance realized price In Millions Q3 2026 Y/Y Q3 net sales up 58% Y/Y and adj. EBITDA up 351%, primarily due to higher pricing Net Sales $1,119 +58% Q4 2026 net sales and
Slide 10: Track Record of Cost Discipline, Productivity Gains, and Cash Flow Conversion
Our Track Record of Cost Discipline, Productivity Gains, and Cash Flow Conversion Underpin Our Long-Term Competitiveness Achieved >$150M run-rate cost and YTD operating cash flow conversion1 at the productivity improvements in 2026 YTD high end of our long-term range Incremental Supply Chain & Volum
Slide 11: Reducing FY26 Capex Guidance to $300M - $350M
Reducing FY26 Capex Guidance to $300M - $350M Capital Efficiency Provides Lasting Savings and Optionality in Future Investment ~$500M Growth Sustaining and Productivity Capital efficiency drives sustainable savings through optimizing project timing and scope Project Resequencing Growth Capital Eff
Slide 12: Global ESS Battery Demand Doubled YTD
Global ESS Battery Demand Doubled YTD Driven by Electricity Demand, Grid Reliability and Energy Security ESS demand supported by project economics and policy in regions including China, Europe, and Australia Global Energy Storage Systems (ESS) Production1 (GWh) 1,000 +97% 25% YTD Y/Y ESS supported b
Slide 13: Resilient Outlook Drives Near and Long-term ESS Lithium Demand
Resilient Outlook Drives Near and Long-term ESS Lithium Demand (25% CAGR’25-’30) Attractive Returns Strong Project Pipeline Long-term Growth Early stages of ESS adoption today. >1,000 GWh of ESS projects are in 30-40TWh of ESS needed by 2050; Global ESS projects deliver attractive the pipeline for 2
Slide 14: Positive Inflection in Global EV Sales
Positive Inflection in Global EV Sales; +11% Y/Y YTD European EV sales remain strong, (+35% Global Electric Vehicle (EV) Sales1 Y/Y YTD) supported by higher oil costs (GWh) and policy. EU 2027+ import cap for Chinese hybrid vehicles expected to have 1,200 minimal demand impact (<10GWh / year) 1,000
Slide 15: EV Demand Continues to Diversify Geographically
EV Demand Continues to Diversify Geographically Rest of World1 Reaches 14% of Global EV Sales YTD Rest of World EV sales nearly doubled Y/Y YTD with Chinese ROW EV Sales by Sub-region, GWh2 exports making up ~60% of sales 140 ▲90% 118 GWh 14% of global 120 Vietnam, Thailand, Indonesia, and 100 Other
Slide 16: Progressing Growth Options at Our World-Class Resources
Progressing Growth Options at Our World-Class Resources Greenbushes | 50%1 ALB Wodgina | 50% ALB Salar de Atacama | 100% ALB CGP3 restarted August 1, achieved 30 days of nameplate performance in September Operating well; continued utilization of three Production expected to be seasonally higher full
Slide 17: A Stronger Albemarle for Long-Term Value Creation
A Stronger Albemarle for Long-Term Value Creation ESTABLISHED ALBEMARLE AS A GLOBAL LEADER IN LITHIUM & BROMINE Global scale: on track to deliver 2x LCE sales volume or +15% CAGR 2022 to 2027E One of the strongest balance sheets in the industry: reduced net leverage1 from 3.4x in Q4 2020 to ~0.3
Slide 18: Q4 2026 Investor Relations Events
Q4 2026 Investor Relations Events Morgan Stanley Global Chemicals & Agriculture November 10 Conference Meredith Bandy, CFA VP, Investor Relations & Sustainability [email protected] Baird Global Industrials November 11 +1 980.999.5168 Conference November 12 Toronto NDR Goldman Sachs Isaac
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Slide 20: Appendix
APPENDIX \ Albemarle’ | 2
Slide 21: Maintaining 2026 and 2030 Stationary Storage Forecast Ranges
Maintaining 2026 and 2030 Stationary Storage Forecast Trending towards the higher end of 2026 lithium demand Ranges Due to Continued Strong Demand range (+48% Y/Y)2 through August due to YTD ESS demand strength and improving Stationary Storage EV Lithium Demand EV sales Li-Ion Battery Production1
Slide 22: Energy Storage Quarterly Sales Metrics
Energy Storage Quarterly Sales Metrics Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Average Lithium Market Price1 ($/kg LCE) $10.24 $9.85 $8.82 $9.42 $11.19 $20.24 $22.80 $19.73 Energy Storage Net Sales ($M) $617 $525 $718 $709 $759 $891 $1,277 $1,119 Energy Storage Sales Volume2,
Slide 23: Energy Storage 2026E Outlook Considerations and Market Price Scenarios
Energy Storage 2026E Outlook Considerations Average realized price below market price and Market Price Scenarios1 due to mix impact of spodumene sales OBSERVED LITHIUM FY 2025 avg. FY 2025 avg. Q1 2026 avg. 2021-25 avg. MARKET PRICE $10 $10 $20 $30 FY 2026E ASSUMPTIONS: SCENARIOS: (US$/kg LCE)2 FY 2
Slide 24: Specialties and Corporate FY 2026E Outlook Considerations
Specialties and Corporate FY 2026E Outlook Considerations FY 2025A FY 2026E as of November 4, 2026 Segments Specialties Net Sales $1.4B $1.4B – $1.6B Specialties Adj. EBITDA $276M $350M – $375M Other Corporate Capital Expenditures $590M $300M – $350M Depreciation and Amortization $659M $660M – $680M
Slide 25: Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios
Illustrative Calculation of FY 2026E Adj. EPS at ~$10/kg and ~$30/kg Scenarios 2026 Outlook Market Price Scenario values represent midpoint of ranges (in millions, except per share amounts) ~$10 (2025 avg.) ~$30 (2021-25 avg.) Adjusted EBITDA1 $950 $4,300 - Pre-Tax Equity Income $360 Assuming 30% AU
Slide 26: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures NON-GAAP MEASURE DESCRIPTION Adjusted Net Income Attributable to Common Net income after mandatory convertible preferred stock dividends before non-recurring, other unusual and non- Shareholders operating pension and OPEB. Adjusted Diluted EPS Attributable to Common
Slide 27: Adjusted Net Income
Adjusted Net Income Three Months Ended September 30, ($ in thousands) 2026 2025 Net income (loss) attributable to Albemarle Corporation $ 296,755 $ (160,694) Add back: Non-operating pension and OPEB items (net of tax) 782 189 Non-recurring and other unusual items (net of tax) 56,075 180,025 Adjusted
Slide 28: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Three Months Ended Nine Months Ended Year Ended September 30, September 30, December 31, 2026 2025 2026 2025 2025 % of net % of net % of net % of net % of net ($ in thousands) $ sales $ sales $ sales $ sales $ sales Net income (loss) attributable to Albemarle Corporation $
Slide 29: Operating Cash Flow Conversion
Operating Cash Flow Conversion (a) Operating cash flow conversion is defined as Net cash provided by operating activities divided by adjusted EBITDA. See above for a reconciliation of EBITDA and adjusted EBITDA, the non-GAAP financial measures, to Net income attributable to Albemarle Corporation, th
Slide 30: Adjusted EBITDA supplemental
Adjusted EBITDA supplemental1 Twelve Months ($ in thousands) Ended Three Months Ended Sep 30, 2026 Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Adjusted EBITDA $ 2,436,165 $ 645,510 $ 858,097 $ 663,814 $ 268,744 Equity in net income of non- Windfield Holdings unconsolidated investments (net o
Slide 31: Diluted EPS
Diluted EPS Three Months Ended September 30, 2026 2025 Diluted income (loss) per share attributable to Albemarle Corporation common shareholders $ 2.15 $ (1.72) Add back: Non-operating pension and OPEB items (net of tax) 0.01 — Non-recurring and other unusual items (net of tax) Restructuring charges
Slide 32: Effective Tax Rate
Effective Tax Rate Income (loss) before income taxes and equity in net income of unconsolidated Income tax expense Effective income tax ($ in thousands) investments (benefit) rate Three months ended September 30, 2026 As reported $ 133,218 $ 21,900 16.4 % Non-recurring, other unusual and non-operati
Slide 33: Equity Income and Noncontrolling Interest
Equity Income and Noncontrolling Interest Three Months Ended September 30, 2026 2025 Noncontrolling Noncontrolling ($ in thousands) Equity Income Interest Equity Income Interest Energy Storage $ 204,762 $ — $ 47,498 $ — Specialties — (19,913) — (12,753) Corporate and All Other 588 — 13,142 — Total C
Slide 34: www.albemarle.com
NYSE www.albemarle.com \ Albemarle’ | x