Koppers Holdings Inc. · NYSE:KOP
Koppers — Q1 2026 Earnings Presentation
43 slides from Koppers's earnings presentation, May 2026
Slide 1: Q1 2026 Results
Q1 2026 Results KOPPER a)
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: CMC Facility at Stickney, Illinois: Discontinue Distillation and Chemical Manufacturing Operations
CMC Facility at Stickney, Illinois: Discontinue Distillation and Chemical Manufacturing Operations* Stickney, Illinois Nyborg, Denmark Final Production by December 31, 2026* Targeting Q4 2026 for shifting production to coal tar distillation facility located in Nyborg, Denmark Evaluating potentially
Slide 5: Key Takeaways: Q1 2026
Key Takeaways: Q1 2026 HIGHLIGHTS CATALYST TRANSFORMATION $49.3M Adjusted EBITDA • Currently in Organizational Design Phase of Catalyst Transformation 10.8% Adjusted EBITDA Margin Process $22.0M Operating Profit • Announced decision to discontinue distillation and chemical $0.57 Adjusted Earnings Pe
Slide 6: Zero Harm Update: Q1 2026
Zero Harm Update: Q1 2026 2026 vs. 2025 2026 Key Goals Leading Our Path to Zero: Activities 35% Rate • Reinforce 30 OUT OF 40 Foundational Accident-Free Elements Facilities Recordable 12% • Deploy Additional Injury Rate Tools & Training • Drive Environmental Improvements • Europe CMC Serious Safety
Slide 7: Notable Happenings
Notable Happenings ) N Ww KOPPER
Slide 8: 2025 Annual Report & 2026 Proxy Statement
2025 Annual Report & 2026 Proxy Statement Scan here to View our 2025 Annual Report Scan here to View our Proxy Statement 8
Slide 9: Koppers Makes Newsweek's List of America's Most Charitable Companies
Koppers Makes Newsweek’s List of America’s Most Charitable Companies • Koppers ranked among the top 300 companies on Newsweek’s inaugural Most Charitable Companies list • Companies were selected through a survey of more than 18,000 U.S. respondents, social listening across news and online sources, a
Slide 10: Koppers Celebrates 20 Years on the NYSE
Koppers Celebrates 20 Years on the NYSE • Koppers celebrated 20 years as a publicly traded company on the New York Stock Exchange • On March 30, members of the leadership team had the chance to ring the Closing Bell • CEO Leroy Ball also participated in an interview on the financial news program Tak
Slide 11: Save the Date: September 16-17, 2026
SAVE THE DATE September 16-17, 2026 www.koppers.com Wednesday, September 16 Thursday, September 17 Tour of Performance Chemicals Management Presentation Research & Development Lab Thursday, September 17, 2026 12 p.m. Eastern Time 9 a.m. - 11:30 a.m. Eastern Time Transportation will be provided Kimpt
Slide 12: Q1 2026 Financials
KOPPERS = Q1 2026 Financials Ss
Slide 13: Q1 2026: Sales by Segment
Q1 2026: Sales by Segment (Unaudited) Sales vs. Prior Year $ in Millions $600 $500 -0.3% $400 $455 $457 $300 -6.4% $200 $235 17.5% $220 -7.4% $100 $142 $121 $93 $101 $0 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 RUPS PC CMC TOTAL Note: Segment amounts may not agree with consolid
Slide 14: Q1 2026: Adjusted EBITDA by Segment
Q1 2026: Adjusted EBITDA by Segment (Unaudited) Adjusted EBITDA $ and % vs. Prior Year $ in Millions $60 12.2% $50 10.8% $56 $49 $40 $30 10.9% 18.2% 10.3% $26 16.6% $20 $26 $23 $20 9.8% $10 1.0% $10 $0 $1 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 RUPS PC CMC TOTAL Note: Segment
Slide 15: Q1 2026 RUPS Segment
Q1 2026 RUPS Segment RAILROAD AND UTILITY PRODUCTS AND SERVICES Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $250 $30 Highlights Highlights $225 $235 • Decrease in sales driven by: $220 $25 • Profitability was lower due $200 ✓ Customer mix in Class I $26 primarily to: cr
Slide 16: Q1 2026 PC Segment
Q1 2026 PC Segment PERFORMANCE CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $150 Highlights Highlights $25 $26 $142 • Increase in sales was primarily • Profitability was higher due to: $125 due to: $121 $20 ✓ Higher sales volumes ✓ 15% volume increase along $20
Slide 17: Q1 2026 CMC Segment
Q1 2026 CMC Segment CARBON MATERIALS AND CHEMICALS Sales (Unaudited) Adjusted EBITDA (Unaudited) $ in Millions $ in Millions $110 Highlights Highlights $100 $10 $101 • Lower sales were primarily $10 • Profitability decreased due to: $90 $93 driven by: ✓ Lower sales prices $80 ✓ $13.9M in lower phtha
Slide 18: Capital Allocation
Capital Allocation
Slide 19: Uses of Cash: Balanced Approach
Uses of Cash: Balanced Approach Investing in Our Future Quarterly Dividend • $11.4M capital expenditures in Q1 2026 (net) • On May 7, Board of Directors declared • Expect $55M total capital expenditures quarterly dividend of $0.09 per share (gross) in 2026 Share Repurchase Reducing Leverage(1) • $29
Slide 20: Q1 2026 Capital Expenditures
Q1 2026 Capital Expenditures ($ in Millions) Growth & Year-to-Date CapEx by Business Unit Maintenance Zero Harm Productivity Total RUPS $4.9 $0.3 $0.2 $5.4 PC 0.4 2.1 0.3 2.8 CMC 1.8 1.0 0.2 3.0 Corporate 0.2 --- --- 0.2 Total $7.3 $3.4 $0.7 $11.4 Less: Cash proceeds from asset sales and insurance p
Slide 21: Declaring Quarterly Cash Dividend
Declaring Quarterly Cash Dividend May May June 5.7.26 5.29.26 6.15.26 Dividend Record Payment Declaration Date Date The Board of Directors approved a quarterly dividend of $0.09 per share of Koppers common stock. At this quarterly dividend rate, the annual dividend is $0.36 per share for 2026, a 12.
Slide 22: Business Sentiment
~- Business Sentiment « ery
Slide 23: State of the Business: PC Performance Chemicals
State of the Business PC: PERFORMANCE CHEMICALS 2026 Market Outlook (Prior): Current Market Outlook: • Market share capture in both residential and industrial • Volume increase of 15% compared to Q1 ’25 split between markets support an 11% expected increase in sales revenue market share growth (9%)
Slide 24: State of the Business: RUPS Utility and Industrial Products
State of the Business RUPS: UTILITY AND INDUSTRIAL PRODUCTS 2026 Market Outlook (Prior): Current Market Outlook: • Market sentiment remains bullish mainly due to increasing • Q1 demand for utility pole products 12% higher by volume electrical demand related to buildout of AI infrastructure (9% organ
Slide 25: State of the Business: RUPS Railroad Products and Services
State of the Business RUPS: RAILROAD PRODUCTS AND SERVICES 2026 Market Outlook (Prior): Current Market Outlook: • Industry consolidation continuing to impact market trends and • Q1 crosstie sales comparison to prior year impacted by resulting in reduced capital spend by railroads unfavorable mix and
Slide 26: State of the Business: CMC Carbon Materials and Chemicals
State of the Business CMC: CARBON MATERIALS AND CHEMICALS 2026 Market Outlook (Prior): Current Market Outlook: • Overall carbon markets remain in turmoil as evidenced by Q4 • Overall carbon markets remain in turmoil ‘25 financial results ✓ Middle East conflict pushing oil and tar prices higher, whil
Slide 27: 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 28: 2026 Guidance
2026 Guidance (iil
Slide 29: 2026 Sales Forecast: $1.9B - $2.0B
2026 Sales Forecast: $1.9B - $2.0B Sales ($ in Millions) $2,100 ($35M)-$25M $1.9B-$2.0B $2,000 $50M-$65M $20M-$35M $1,900 $1.88B $1,800 $1,700 2025 RUPS PC CMC 2026 29
Slide 30: 2026 Adjusted EBITDA Forecast: $240M - $260M
2026 Adjusted EBITDA Forecast: $240M - $260M Adjusted EBITDA* ($ in Millions) $280 $9M-$16M $270 $0M-$5M $240M-$260M $260 $257M $250 ($26M)-($18M) $240 $230 $220 2025 RUPS PC CMC 2026 * Excluding special charges 30
Slide 31: 2026 Adjusted EPS Forecast: $3.80 - $4.60
2026 Adjusted EPS Forecast: $3.80 - $4.60 Adjusted EPS* $5.00 $0.17-($0.16) $4.75 $0.34-$0.40 $0.10 $3.80-$4.60 ($0.04)- $0.02 $4.50 ($0.84)-$0.17 $4.25 $4.07 $4.00 $3.75 $3.50 $3.25 $3.00 2025 Operations Interest Taxes D&A Other 2026 * Excluding special charges 31
Slide 32: 2026 Free Cash Flow Forecast
2026 Free Cash Flow Forecast $190 $41M $175M $170 ($7M) $150 $12M $7M $130 $123M $6M $120M ($55M) $110 ($7M) ($7M) $90 $58M-$78M $70 ($55M)-($35M) $50 $30 2025 OCF Operations Interest Restructuring Pension Working Taxes 2026 OCF CAPEX 2026 FCF Dividend Share FCF for Debt (midpoint) Settlement Capita
Slide 33: 2026 Capital Expenditures
2026 Capital Expenditures ($ in Millions) Growth & CapEx by Business Unit Maintenance Zero Harm Productivity Total RUPS $17.0 $1.6 $0.2 $18.8 PC 4.5 7.7 5.7 17.9 CMC 12.8 3.4 0.2 16.4 Corporate 1.9 --- --- 1.9 Total $36.2 $12.7 $6.1 $55.0 33
Slide 34: Appendix
Appendix ) N Ww KOPPER’
Slide 35: 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, free cash flow, adjusted EPS, net debt and net leverage ratio. Koppers believes tha
Slide 36: Unaudited Segment Information
Unaudited Segment Information Three Months Ended March 31, 2026 2025 (Dollars in millions) Net sales: Railroad and Utility Products and Services $ 220.0 $ 235.0 Performance Chemicals 142.1 120.9 Carbon Materials and Chemicals 93.2 100.6 Total $ 455.3 $ 456.5 Adjusted EBITDA: Railroad and Utility Pro
Slide 37: Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin
Unaudited Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended March 31, Year Ended December 31, 2026 2025 2025 (Dollars in millions) Net income (loss) $ 7.1 $ (13.9) $ 56.0 Interest expense 15.0 16.6 66.1 Depreciation and amortization 19.4 18.0 73.6 Income t
Slide 38: Reconciliations of Net Income to Adjusted Net Income and Adjusted EPS
Unaudited Reconciliations of Net Income Attributable to Koppers to Adjusted Net Income Attributable to Koppers and Diluted Earnings Per Share and Adjusted Earnings Per Share Three Months Ended March 31, Year Ended December 31, 2026 2025 2025 (Dollars in millions, except share and per share amounts)
Slide 39: Reconciliation of Total Debt to Net Debt and Net Leverage Ratio
Unaudited Reconciliation of Total Debt to Net Debt and Net Leverage Ratio Twelve Months Ended March 31, 2026 (Dollars in millions) Total Debt $ 920.2 Less: Cash 42.8 Net Debt $ 877.4 Adjusted EBITDA $ 250.5 Net Leverage Ratio 3.5 39
Slide 40: Reconciliation of Net Income to Adjusted EBITDA (LTM)
Unaudited Reconciliation of Net Income to Adjusted EBITDA (LTM) Twelve Months Ended March 31, 2026 (Dollars in millions) Net income $ 77.0 Interest expense 64.5 Depreciation and amortization 75.0 Income tax provision 29.3 Sub-total 245.8 Adjustments to arrive at adjusted EBITDA: Acquisition inventor
Slide 41: Reconciliation of Operating Cash Flow to Free Cash Flow
Unaudited Reconciliation of Net Cash Provided by (Used In) Operating Activities to Free Cash Flow Three Months Ended March 31, Twelve Months Ended March 31, 2026 2025 2026 2025 (Dollars in millions) Net cash provided by (used in) operating activities $ 46.3 $ (22.7) $ 191.5 $ 109.0 Less: capital exp
Slide 42: 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 43: koppers.com
KOPPE koppers.com R — Mugu! —— \