NEWMARKET CORP Q1 FY2025 earnings call

• Petroleum additives business had lower shipments in Q1 2025 but maintained strong operating profit levels due to focus on operational efficiency. - Specialty Materials segment saw sales increase to $54M in Q1 2025 from $17M in Q1 2024 and operating profit turn to $23M from a $5M loss. - Plan to invest up to $100M in Ampac facility in Utah to build additional production line, increasing capacity by over 50% by 2026. - Generated solid cash flows, returned $83M to shareholders via share repurchases and dividends. - Net debt to EBITDA ratio improved to 1.1 from 1.9 at end of Q1 2024.

Petroleum additive sales for the first quarter of 2025 were $646 million compared to $677 million for the same period in 2024. Petroleum additives operating profit for the first quarter of 2025 was $142 million compared to $151 million in 2024. Specialty Materials sales were $54 million for the first quarter of 2025, compared to $17 million for the first quarter of 2024. Specialty Materials operating profit was $23 million for the first quarter of 2025, compared to an operating loss of $5 million for the first quarter of 2024.

• Committed to making decisions promoting long-term value for shareholders and customers in 2025. - Believe core principles like long-term perspective, safety-first culture, etc. will continue to benefit stakeholders.

• Ongoing macroeconomic environment challenge. - Uncertainty around international trade relations and tariffs.