Albemarle : April 2024 Investor Presentation

Albemarle Investor Presentation

April 2024

Forward-Looking Statements

This presentation contains 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 of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "guidance," "intend," "may," "outlook," "scenario," "should," "would," and "will". Forward-looking statements may include statements regarding: our 2024 company and segment outlooks, including expected market pricing of lithium and spodumene and other underlying assumptions and outlook considerations; expected capital expenditure amounts and the corresponding impact on cash flow; market pricing of lithium carbonate equivalent and spodumene; anticipated timing of the commissioning of the Meishan, China lithium conversion facility; expectations as to Energy Storage sales volumes; expected uses of the proceeds of our mandatory convertible preferred stock offering; plans and expectations regarding other projects and activities, cost reductions and accounting charges, and all other information relating to matters that are not historical facts. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; timing and magnitude of customer orders; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; fluctuations in foreign currencies; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; changes in inflation or interest rates; volatility in the debt and equity markets; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website atwww.sec.gov. These forward-looking statements speak only as of the date of this presentation. Albemarle assumes no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Non-GAAP Financial Measures

It should be noted that adjusted net (loss) income attributable to Albemarle Corporation, adjusted diluted earnings per share ("EPS"), non-operating pension and other post-employment benefit ("OPEB") items per diluted share, non-recurring and other unusual items per diluted share, adjusted effective income tax rates, EBITDA, adjusted EBITDA (on a consolidated basis), EBITDA margin and adjusted EBITDA margin are financial measures that are not required by, or presented in accordance with, accounting principles generally accepted in the United States, or GAAP. These non-GAAP measures should not be considered as alternatives to net income attributable to Albemarle Corporation ("earnings") or other comparable measures calculated and reported in accordance with GAAP. These measures are presented here to provide additional useful measurements to review the company's operations, provide transparency to investors and enable period-to-period comparability of financial performance. The company's chief operating decision maker uses these measures to assess the ongoing performance of the company and its segments, as well as for business and enterprise planning purposes.

A description of other non-GAAP financial measures that Albemarle uses to evaluate its operations and financial performance, and reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found on the press release announcing the results discussed in this presentation, which is available on Albemarle's website athttps://investors.albemarle.com. The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, as the company is unable to estimate significant non-recurring or unusual items without unreasonable effort. The amounts and timing of these items are uncertain and could be material to the company's results calculated in accordance with GAAP.

Albemarle leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health.

We partner to pioneer new ways to move, power, connect and protect with people and planet in mind.

We are committed to building a more resilient world.

Leading the World in Transforming Essential Resources

•  Clear strategy to achieve profitable growth and enhance sustainability

•  A global leader with durable competitive advantages

•  Track record of strong financial and operating performance - ~23% 5-year net sales CAGR

•  Growth expected to continue in 2024 - +10-20% Energy Storage volumes Y/Y

•  Capitalizing on growth opportunities in electric vehicles and beyond - mobility, energy, connectivity, health

1 As of December 31, 2023 2 Includes employees of consolidated JVs 3 Attributable to Albemarle Corporation 4 Non-GAAP measure; excludes $604 LCM charge, see Appendix for definition and reconciliations of historical measures to most directly comparable GAAP measure

A Leading Provider of Lithium, Bromine and Other Essential Elements

Advancing the future of movement by being a leading provider of materials that make mobility better and cleaner.

Powering the energy transition to meet the rising needs so we can ensure the world has critical resources for years to come.

Enabling an always-on world to make technology more consistent and reliable, so we can continue to innovate more efficiently.

Improving quality of life by making health safer and more attainable today, so the planet and future generations can continue to thrive.

Expanding Global Footprint - Strong Presence in Major Markets1

	= Proposed
	= Specialties
	= Energy Storage
JV	= Joint Venture
	= Hard Rock
	= Brine
R	= Resource
P	= Production

1 Map is representative of Albemarle's global reach; not inclusive of all the company's sites

Diverse and Dedicated Leadership Team Focused on Delivering Shareholder Value

Kent Masters

Neal Sheorey

Eric Norris

Netha Johnson

Chairman & CEO Experience: 30+ years

Chief Financial Officer Experience: 20+ yearsPresident, Energy Storage Experience: 25+ yearsPresident, Specialties Experience: 25+ years

Melissa Anderson

Kristin Coleman

Mark Mummert

Cynthia Lima

Chief People Officer Experience: 30+ yearsGeneral Counsel Experience: 30+ years

Senior Vice President, Capital Projects and Integrated Supply Chain Experience: 30+ years

Chief External Affairs & Communications Officer Experience: 25+ years

Engaged, Diverse, and Accountable Board of Directors

Laurie Brlas

Former EVP & CFO, Newmont Mining

*

Jim O'Brien

Former Chairman & CEO, Ashland

*

Audit & Finance Committee

Glenda Minor

Former SVP & CFO, Evraz North America

Dean Seavers

Former President, National Grid U.S.

*

Executive Compensation & Talent Development CommitteeNominating & Governance Committee

Capital Investment Committee

Ralf Cramer

Former President and CEO, Continental China

Jerry Steiner

Former EVP, Sustainability & Corporate Affairs, Monsanto

Diarmuid O'Connell

Former VP, Corp & Business Development, Tesla Motors

Holly Van Deursen

Former Group Vice President, Petrochemicals, BP

*

Sustainability, Safety & Public Policy CommitteeChairman of the Board

Lead Independent

* Committee Chairperson

Kent Masters

Chairman & CEO, Albemarle

Alex Wolff

Former U.S. Ambassador to Chile

*

Resilient Competitive Strengths to Navigate Market Conditions

•  Diversified portfolio of best-in-class assets and resources around the globe

•  Low-cost position with vertical integration into large, high-grade resources

•  Deep technical and operational know-how to transform essential resources

•  Process know-how to build and operate large scale conversion assets safely

•  Advanced solutions tailored to customer and market needs

•  New products, e.g. MercLok and lithium sulfide

•  Reliable and trusted partner with global expertise and local experience

•  Partnerships to facilitate innovation and mutual growth

•  Responsible corporate citizen focused on sustainability, community engagement, and industry-leading best practices