The Chemours Company Q1 FY2026 earnings call

• TSS had strong performance with double-digit growth in refrigerants, record first quarter net sales and adjusted EBITDA. • TT exceeded earnings expectations driven by pricing actions and commercial discipline. • APM worked to stabilize operations after the Washington Works outage. • Completed sale of nearly all Quan Yin properties to pay down debt, strengthening balance sheet. • Signed long-term coring supply contract with Olin for Dalil site.

Thermal and specialized solutions (TSS) had a record first quarter with double-digit year-over-year growth in Freon and Option refrigerants. Net sales increased 22% y-o-y, with adjusted EBITDA reaching record levels and margins at 33%. Titanium technologies (TT) saw net sales within expectations due to disciplined pricing, with adjusted EBITDA exceeding expectations. Advanced performance materials (APM) had net sales down y-o-y due to the Washington Works outage and prior capstone line closure, with a $25 million headwind in adjusted EBITDA. TSS net sales contribution: record first quarter with double-digit growth. TT: net sales within expectations, adjusted EBITDA exceeded. APM: net sales down, adjusted EBITDA impacted by outage.

• TSS: Q2 net sales expected to rise low to mid-teens sequentially, adjusted EBITDA $210 - $225 million. Full-year expected year-over-year growth supported by market position and pricing. • TT: Q2 net sales expected mid to high teens sequentially, adjusted EBITDA $40 - $50 million. Full-year guide aligns with previous despite market uncertainties. • APM: Q2 net sales expected low to high 30% sequentially, adjusted EBITDA $12 - $18 million. Full-year consolidated net sales expected 15% - 20% sequential increase, adjusted EBITDA $220 - $250 million, capital expenditures $50 million, free cash flow at least $100 million. Full-year free cash flow conversion now above 20% but lower than prior due to Kuan Yin land sale tax implications. • Net leverage ratio expected below 3.8 times adjusted EBITDA by end of 2026.

• Ongoing conflict in the Middle East and resulting volatility in energy markets and global chemical supply chains adding uncertainty to macro environment and potential impact on demand. • Geopolitical events affecting supply chains and TIO2 market. • Sulfur markets tightening due to Middle East conflict causing cost inflation for sulfate-based TiO2 producers.

Q: On TSS, characterize the benefit from Freon auto aftermarket pricing step up, Q2 resi OEM view and margin cadence.

A: TSS uniquely positioned in auto aftermarket with sticky pricing, Q2 sees weaker resi OEM, but TSS business around 30% margin or higher, expecting growth in aftermarket.

Q: On APM, sustainable earnings power and timing of ramp.

A: APM expected in $30 - $40 million EBITDA range, back half of year, strong order book in performance solutions.

Q: On Corpus Christi water emergency playbook.

A: Proactive, 25% curtailment dialed into outlook, robust supply chain.

Q: On TT playbook re sulfur-related impact, two-pick solution.

A: Continue driving share in fair trade market, prioritizing profitability and pricing, two-pick solution capacity coming end of year, NTT field trial successful.

Q: On Q2 and full year guidance bridge to higher EBITDA.

A: Strong pricing, stable volume, cost actions, TT strong pricing, APM good order book.

Q: On TT Q2 EBITDA evolution.

A: Improvement through year, driven by pricing and cost outwork.

Q: On TSS growth without quota step up, Freon mix.

A: Still expect year-over-year growth in TSS, Freon sticky in auto aftermarket, providing multi-year growth.

Q: On TT North American TIO2 sales and free cash flow guidance.

A: Q2 sees step up in North American sales, free cash flow guidance lower due to Kuan Yin land sale tax outflow.

Q: On new chlorine contract and Q1 TT one-time impacts.

A: New contract provides secure supply, Q1 TT one-time impacts less than $17 million.

Q: On TiO2 market restarts of Venator assets.

A: Small impact, concern on circumvention of anti-dumping tariffs, high cost to operate facilities.