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Unique chemistry, sustainable solutions Elementis plc 2026 Interim Results 30 July 2026 Unique chemistry, sustainable solutions
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Unique chemistry, sustainable solutions 2 Cautionary statement This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements—that is, statements related to future, not past events —in relation to, or in respect of the financial condition, operations or businesses of Elementis plc (the 'Company'). Any such statements involve risk and uncertainty because they relate to future events and circumstances. There are many factors that could cause actual results or developments to differ materially from those expressed or implied by any such forward looking statements, including, but not limited to, matters of a political, economic, business, competitive or reputational nature. Nothing in this presentation, presentation materials and discussion should be construed as a profit estimate or profit forecast. Elementis does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or expectations. The Company is the holding company for a number of operationally distinct and autonomous subsidiaries that conduct the day-to-day business of the different segments of the Elementis Group. The use of 'Elementis' in this presentation to describe one or more of those subsidiaries, or the Elementis Group as a whole, does not in any way detract from the legal, functional and operational separateness of the entities that comprise the Elementis Group.
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Unique chemistry, sustainable solutions 3 Luc van Ravenstein Introduction and highlights Kath Kearney-Croft Financial performance Luc van Ravenstein Elevate Elementis Q&A 01 02 03 04 Luc van Ravenstein and Kath Kearney-Croft Agenda
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Unique chemistry, sustainable solutions 4 Revenue and profit growth; margin improvement ‘Elevate Elementis’ on track – strategic and financial progress Confident of meeting FY26 expectations Portfolio strengthened and share buyback programme launched Strong H1 performance Sharpened focus as a 'pure-play' in specialty chemicals
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Unique chemistry, sustainable solutions Coatings Elementis Today Personal Care Jun ‘26 Pharmaceutical manufacturing sold New Elementis 5 High-quality pure-play specialty chemicals business Jan’ 23 May’ 25 Nov’ 25 Alchemy acquired Pure-play specialties Additives: small part of formulation, critical to performance Winning differentiators: • Premium hectorite asset • Global rheology leadership • World-class expertise in formulation solutions New Elementis: Talc sold Chromium sold Exited commoditised, capital intensive businesses
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Unique chemistry, sustainable solutions ‘Elevate Elementis’ strategy is on track 6 Strategic priorities and financial ambitions Three strategic priorities H1 2026 delivery Mid-single digit organic-led revenue growth through the cycle 4.7% Adjusted operating margin >23% 23.0% Operating cash conversion >90% 95.1%* ROCE >30% (excluding goodwill) 29.4% Accelerate sustainable growth First choice for customers Simpler, leaner Elementis Medium-term ambitions * 3-year average
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Unique chemistry, sustainable solutions Financial performance Kath Kearney-Croft, CFO
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Unique chemistry, sustainable solutions $m (unless stated otherwise) H1 25 (reported) H1 25 (continuing) H1 26 (continuing) % change3 (continuing) Revenue1 307.9 290.8 318.2 4.7% Adjusted operating profit1 65.3 62.9 73.2 9.8% Adjusted operating margin1 21.2% 21.6% 23.0% 140 bps Adjusted diluted EPS (cents) 1 6.8 6.6 8.5 28.8% Net debt2 125.4 125.4 163.8 30.6% Net debt to EBITDA2 0.9x 0.9x 1.1x Interim dividend per share (cents) 1.3 1.3 1.5 15.4% Strong financial performance 8 Notes: . 1. Unless stated otherwise, results presented on a continuing operations basis and adjusted basis. For adjusting items, see appe ndix. 2. Pre IFRS 16 basis. 3. Organic constant currency basis except operating margin, dEPS, net debt and dividend per share.
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Unique chemistry, sustainable solutions 290.8 318.29.8 3.5 16.0 6.8 (8.7) H1 25 FX M&A Volume Price Mix H1 26 Group revenue ($m) 9 Strong performance in challenging market conditions Personal Care 0.2 Coatings 15.8 ( (43) (4.3) (3.3) (2.3) Personal Care (1.1) Coatings (7.6)
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Unique chemistry, sustainable solutions 62.9 73.2 2.6 1.3 6.4 (0.5) 0.5 H1 25 FX M&A Volume Price/Mix Net Savings H1 26 Group adjusted operating profit ($m) 10 Higher volume drop-through with margin growth supported by self-help actions 5 (3) (6) Notes: 1. Price / Mix is shown net of inflation. 2. Adjusted operating profit. 21.6% 23.0% AOP2 margin 1 R&DSavings 1.3 (0.8)
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Unique chemistry, sustainable solutions Personal Care performance1 11 Strong revenue, profit and margin delivery $m H1 26 H1 25 Change (organic constant currency) Revenue 109.2 99.3 2.9% Operating profit2 41.6 37.5 3.1% Operating margin2 38.1% 37.8% 30 bps • Good growth in cosmetics, particularly strong in Asia and skincare. Muted growth in North America due to isolated weaker demand in Q1 • Profit and margin improvement reflects contribution of Alchemy, product mix andcost savings • Alchemy on track for sustainable double-digit growth and traction with wider customer portfolio Notes: 1. 2025 restated for continuing operations following the disposal of the pharmaceutical manufacturing business 2. Before adjusting items.
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Unique chemistry, sustainable solutions $m H1 26 H1 25 Change (constant currency) Revenue 209.0 191.5 5.6% Operating profit1 43.2 34.9 18.7% Operating margin1 20.7% 18.2% 250 bps Coatings performance 12 Continued margin progression • Higher revenue driven by strong growth in Asia, EMEA, LATAM andenergy partially offset by weaker North America • Margin performance reflects benefit of higher volumes, improved asset utilisation, pricing and self-help actions • Debottlenecking programme at St. Louis supporting strong growth of hectorite-based energy products Notes: 1. Before adjusting items. $m H1 26 H1 25 Change (constant currency)
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Unique chemistry, sustainable solutions $m H1 26 H1 251 Adjusted EBITDA 84.1 73.8 Change in working capital (44.4) (27.4) Capital expenditure (9.9) (5.1) Adjusted operating cash flow 29.8 41.3 Pensions (1.0) (0.5) Interest (6.0) (9.0) Tax related payments (10.6) (6.5) Adjusting items (0.6) (7.7) Other2 1.7 (2.2) Free cash flow 13.3 15.4 Disciplined cash generation while investing for growth 13 Note: 1. Restated for continuing operations 2. Other includes share-based payments, movements in provisions and payment of lease liabilities. • Working capital outflow driven mainly by higher receivables from increased sales and no factoring in H1 2026 • Capex higher due primarily to growth capex • Lower interest primarily due to 2025 refinancing fees • Tax payments higher due to IRS refund in 2025 • Adjusting items lower following completion of Fit for the Future in 2025 and the benefit in 2026 of c.$3.5m net cash inflow from the sale of the Middletown site closed in 2024
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Unique chemistry, sustainable solutions 185.4 163.8(13.3) (32.7) 6.7 17.2 0.5 Robust balance sheet gives capital allocation optionality 14 Net debt to EBITDA ratio improved (3) Net debt : EBITDA 1.3x 1.1x 185.4Net debt end 2025 Free cash flow Pharma disposal & discontinued operations Net share repurchases Dividends FX Net debt H1 2026
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Unique chemistry, sustainable solutions 15 Capital allocation Balanced approach that prioritises growth, with progressive dividend and scope for additional returns. • Look to maintain leverage over time at around 1x Net Debt: EBITDA • c.£25m share buyback programme started in June to return net cash proceeds from sale of pharmaceutical manufacturing business • Capex - focus on growth and productivity • Investment in R&D: 3% revenue by 2027 • Bolt-on acquisitions • ROCE (exc. goodwill) 29.4% • Maintain full year policy full ~30% payout • Interim dividend of 1.5 cents per share Investing for growth Additional returns Progressive dividend
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Unique chemistry, sustainable solutions Elevate Elementis Luc van Ravenstein, CEO
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Unique chemistry, sustainable solutions Elementis medium-term target: MSD growth through the cycle Generate value with our winning differentiators 17 • Our expertise to optimise formulations for end product performance • The science of flow—what makes ingredients work together • Critical in Personal Care and Coatings formulations • Natural white clay, highly efficient • Largest known high-grade commercial mine, long-term reserves What is it? Category Elementis composition1 Hectorite Rheology Formulation Solutions Rheology Our leading capability Formulation Solutions How we work with customers Hectorite Our premium asset Notes: 1. Based on FY25 revenue, restated to exclude the disposal of Pharma manufacturing
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Unique chemistry, sustainable solutions 18 Step forward in value chain Market penetration Personal Care and Coatings Enter new & adjacent markets Our growth drivers Examples in action Replacing synthetic skincare additives Adding value through Pre-formulated blends Fire retardants, construction, PFAS replacement Pure hectorite Processing Formulation Consumer One of the largest commercial high-grade mines in the world (>50 years of reserves) Inclusion of functional ingredients through self-regenerating honeycomb structure Versatile across Personal Care, Coatings and beyond • Easy application • Pleasant textures • Sensorial benefits Hectorite modification and activation: water-based and oil-based Hectorite: a unique source of value creation Double-digit revenue growth through the cycle Customer Temperature resistant Delivering premium skin feel Highly efficient Natural mineral Suspending agent
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Unique chemistry, sustainable solutions Simpler, leaner Elementis Accelerate sustainable growth First choice for customers H1 progress against Elevate Elementis H1 spotlight 19 Hectorite, skincare and suncare launches Significant improvement in OTIF performance & St. Louis capacity utilisation On track for $10m cost saving target & leaner leadership Driving our three priorities
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Unique chemistry, sustainable solutions > $0.8bn Rheology Market Accelerate sustainable growth 20 Significant addressable market and accelerating Hectorite launches in skin and suncare Simpler, leaner ElementisAccelerate sustainable growth First choice for customers • Sustainability • Premium Texture Acceleration in market adoption Elementis’ c.3% share Room to grow H1 25 H1 26 Hectorite accelerating in H1 2026 New skin and suncare launches with hectorite* +12% H1 26 816 +25% Perfect fit with room to grow Strong start to 2026 Elementis sales growth in skincare *Source: Mintel GNPD, YoY.
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Unique chemistry, sustainable solutions St. Louis Target: +30% capacity utilisation • c.20% improvement in capacity utilisation at St. Louis and more to come • Increased utilisation benefited the performance of our Energy business • Innovation in Coatings: CHARGUARD®, a new application produced in St. Louis OTIF Target: +20% improvement • OTIF performance has risen from 83% at end 2025 to 88% as at the end of June 2026 • Since end 2024, OTIF performance has increased by 1200 bps First choice for customers OTIF and St. Louis progress 21Simpler, leaner ElementisAccelerate sustainable growth First choice for customers Significant progress
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Unique chemistry, sustainable solutions Simpler, leaner Elementis 22 Simplification, agility and speed of execution Simpler, leaner ElementisAccelerate sustainable growth First choice for customers • Realised $0.5m net cost savings, contributing to the net $4m targeted for the year • Streamlined several functions • Executive Committee and senior leadership team rightsized Simpler and Leaner Investment in Growth • Investment in innovation, sales to support direct business and enhanced customer intimacy • Selective, opportunistic acquisition opportunities
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Unique chemistry, sustainable solutions 23 Strong H1 performance On track for Elevate Elementis Product Innovation Day, 3 November 2026 Sharpened focus as a 'pure-play' in specialty chemicals Confident of meeting FY26 expectations Summary and outlook 'New Elementis' coming through in our performance
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Unique chemistry, sustainable solutions Q&A Luc van Ravenstein, CEO Kath Kearney-Croft, CFO
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Unique chemistry, sustainable solutions Appendix
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Unique chemistry, sustainable solutions 26 Our global footprint and local-for-local model gives us operational resilience and agility R&D centre Hectorite mineManufacturing Hectorite mine, California 11 Manufacturing sites 7 R&D centres 4 Continents
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Unique chemistry, sustainable solutions Revenue Growth1 MSD through the cycle Cash conversion1 >90% Adjusted operation margin1: 23%+ Return on capital employed1,3 >30% Elevate Elementis First choice for customers Accelerate sustainable growth Simpler, leaner Elementis Three strategic priorities: Significant value creation potential: 27 Note: 1. Medium-term targets 2. Mid-single digit. 3. Excluding goodwill. 2
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Unique chemistry, sustainable solutions Simpler, leaner Elementis Accelerate sustainable growth First choice for customers Three strategic priorities Enablers Focus on winning differentiators Penetrating and entering new markets Organic growth levers Bolt-on acquisitions Customer first mindset High-performance culture Reduce overheads Streamline supply chains Drive efficiencies Objectives Mid-single digit revenue growth +20% OTIF improvement 30% capacity utilisation improvement at St. Louis Increased efficiency and agility Cost savings 28
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Unique chemistry, sustainable solutions Personal Care 29 Innovation pipeline well positioned to capture new and emerging trends Trends Innovation • Launched BENTONE® ULTIMATE series used in makeup (lipstick) • Breakthrough, patent-pending hectorite technology • >90% natural • Boosted hectorite levels delivering exceptional skin feel • BENTONE HYDROCLAY 2101: novel, ultra-pure hectorite grade product replacing synthetics in suncare • NATURALUXE MFF launched: high-performance, patent-pending and naturally-derived film-former • Double-digit growth from high-efficacy actives. Now representing majority of antiperspirants portfolio • Launched DEOLUXE SC, a non-metal based, biodegradable sweat control antiperspirant • >100 customers testing Colour cosmetics Skin care Antiperspirants • Growing demand for natural products and skinification • Super high sweat control • Non-metal based • All-body applications • Natural solutions replacing synthetic solutions • Enhanced sensory requirements
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Unique chemistry, sustainable solutions Coatings 30 Innovation pipeline well positioned to capture new and emerging trends Notes: 1. Non-ionic synthetic associative thickeners are a type of rheology modifier used in water -based applications such as paints, adhe sives and sealants. Architectural Coatings Industrial Coatings Adhesives, Sealants & Construction Additives Trends Innovation • Launched Elementis Opacity Toolbox: enabling our customers to achieve superior coverage with less paint • Powdered and biobased premium rheology (NiSATs1): +45% growth • Technical service teams China and India in place supporting new local manufacturing footprint • Launched THIXATROL® 5050W and RHEOLATE ® 290: delivering enhanced metallic pigment orientation in waterborne automotive coatings • Hectorite adds texture in powder coatings - replacing PFAS • BENAQUA ® 6000: patent-pending, multifunctional additive improving open time and workability for larger tile applications • Castor-based THIXATROL® penetrating sealant markets globally: double-digit growth, 30% growth with new local & regional accounts • Increased demand for sustainable ingredients and functional performance • Lower energy use and higher productivity • Construction shifting towards larger tile formats • Move to waterborne and powder coatings in fast moving auto OEM and Marine & Protective
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Unique chemistry, sustainable solutions Simpler, leaner ElementisFirst choice for customersAccelerate sustainable growth >$1.5bn >$4bn Building scale in large and attractive end markets 31 Personal Care Coatings >$4bn New applications Existing markets: Penetrate by enhancing performance New markets: Enter & scale Focus on selected high-value nichesTotal addressable market • Skin care – hectorite replacing synthetics & imparting premium textures • Colour cosmetics – pre-formulated hectorite gels • Antiperspirants – high-efficacy actives and biodegradable sweat control • Architectural – Asia penetration, biobased premium rheology • Industrial – formulations for high-performance waterborne coatings • Adhesives, sealants, construction – replacing HEC and fumed silica Status: • Natural suspension for Agrochemical solutions Commercial & scaling • Geothermal energy – high-temperature rheology First sales in 2025 • Fire retardant synergist – replacing antimony First sales in 2025
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Unique chemistry, sustainable solutions Alchemy update 32 Delivering growth through complementary M&A Right in our sweet spot: • Experts in luxurious textures for skin care and cosmetics • Premium, natural rheology ingredients • Proven track record of revenue and profit growth Complementary and synergistic: • On track for double-digit growth • First promotion with Global Key Accounts (86 samples sent) • +21% Sample and prototypes requests (H1 2026 vs LY) • 7% COGS reduction through procurement savings • Direct business in UK as of H2 First choice for customersAccelerate sustainable growth Simpler, leaner Elementis
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Unique chemistry, sustainable solutions 33 Notes: 1. Scope 1 and Scope 2 (market-based) GHG emissions per $m revenue (2019 – 2025). 2. Committed to reducing absolute Scope 1 and 2 GHG emissions by 58.8% by 2034 from a 2024 base year. We have also committed to reducing absolute Scope 3 GHG emissions covering purchased goods and services, upstream transportation and distribution and garden waste generated in opera tions by 35% within the same timeframe. 3. Our grand mean score is assessed using the Gallup Q12® and is measured out of 5.00. 8 • Operational energy efficiency gains balancing underlying emissions increase • Secured renewable electricity at Palmital, Brazil • Continue to evaluate additional opportunities to reduce emissions Recordable Injuries • Additional organisational structure simplification to enhance agility • Porto office and labs opened in July • Recent employee engagement pulse survey results show high engagement and continued positive momentum PeopleSafety Environment Injuries / lost time accidents TRIR H1 sustainability highlights Lost-Time Accidents Elementis Total Recordable Injury Rate (TRIR) 33
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Unique chemistry, sustainable solutions Net debt IFRS 16 reconciliation 34 H1 26 Pre-IFRS 16 Basis Post-IFRS 16 Basis Bank loans and overdraft (250.0) (250.0) Lease liabilities – (17.4) Cash and cash equivalents 86.2 86.2 Net debt (163.8) (181.2) Adjusted operating profit1 132.7 132.7 Add: Depreciation and amortisation1 30.3 30.3 Less: Amortisation in adjusting items1 (6.5) (6.5) Less: Lease payments1 (4.6) – Adjusted EBITDA1 151.9 156.5 Net Debt/EBITDA ratio 1.1 1.2 Note: 1. For the last 12 months to 30 June 2026
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Unique chemistry, sustainable solutions Adjusting items 35 $m H1 2026 H1 2025 Business transformation 3.4 2.3 Acquisitions and disposals 0.6 – St. Louis operational transformation – 1.2 Cloud and data transformation 2.9 0.3 Sale of Middletown plant (1.4) 0.4 US tariff refund (1.2) – Environmental provisions – (0.4) St. Louis fire – 0.4 Amortisation of intangibles arising on acquisition 3.2 3.3 Impact on operating profit 7.5 7.5 Unwind of discount on environmental provisions 0.1 – Interest on EU state aid receivable (0.5) (0.6) Impact on profit before income tax 7.1 6.9 Tax credit in relation to adjusting items (1.6) (1.8) Impact on profit from continuing operations 5.5 5.1
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Unique chemistry, sustainable solutions Pharmaceutical manufacturing sale transaction details 36 Margin enhancing non-core disposal Notes: 1. Converted at exchange rate of €1 = $1.1630. 2. Subject to completion adjustments €m $m1 Enterprise value 34.3 39.8 Pension deficit (3.2) (3.7) Net cash and working capital 0.4 0.5 Transaction costs (0.7) (0.8) Net cash proceeds after transaction costs2 30.8 35.8
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For more details please contact: elementis.com North America Elementis 469 Old Trenton Road East Windsor NJ 08512 USA Tel: +1 609 443 2500 Europe Elementis Portugal, Unipessoal LDA Rua de Santos Pousada, 262-B, 4000-478 Porto Asia Duechem (Shanghai) Chemical Co, LTD. 99, Lianyang Road Songjang Industrial Zone Shanghai China 201613 Tel: +86 21 5774 0348 United Kingdom Elementis plc The Bindery 5th Floor 51-53 Hatton Garden London EC1N 8HN United Kingdom Tel: +44 207 067 2999 Unique chemistry, sustainable solutions