Albemarle — Nov 6, 2024 release

These savings are in addition to cost savings of over $100 million announced and executed this year. During the fourth quarter of 2024, the company expects to record a charge primarily related to severance and related benefit costs. Full-year 2025 capital expenditures are expected to be in the range of $800 million to $900 million, with the majority of that spend aligned with sustaining existing assets and resources and the remainder allocated to select growth projects and high-return, quick payback improvements. Total Corporate Outlook Considerations The company is maintaining its prior full-year 2024 outlook considerations, which are based on observed lithium market price scenarios. The previously published $12-15/kg range is expected to apply even when assuming recent market pricing persists for the remainder of the year, due to enterprise-wide cost improvements, strong volume growth, and Energy Storage contract performance. Total company full-year 2024 net sales are expected to be at the lower-end of that range due to lower recent market pricing. Full-year adjusted EBITDA is expected to be towards the middle of that range, driven by productivity and cost benefits and higher equity income. All other corporate outlook considerations are unchanged. Total Corporate FY 2024E Including Energy Storage Scenarios Observed market price case (a) Recent pricing Q4 2023 average H2 2023 average Average lithium market price ($/kg LCE) (a) $12-15 ~$20 ~$25 Net sales $5.5 - $6.2 billion $6.1 - $6.8 billion $6.9 - $7.6 b