Albemarle — Feb 12, 2025 release

Energy Storage Market Price Scenarios Energy Storage FY 2025E Observed market price case (a) YE 2024 H1 2024 range Q4 2023 average Average lithium market price ($/kg LCE) (a) ~$9 $12-15 ~$20 Net sales $2.5 - $2.6 billion $2.9 - $3.5 billion $4.2 - $4.5 billion Adjusted EBITDA $0.6 - $0.7 billion $1.0 - $1.5 billion $2.2 - $2.4 billion Equity in net income of unconsolidated investments (net of tax) (b) $0.2 - $0.3 billion $0.3 - $0.5 billion $0.6 - $0.7 billion (a)    Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. (b)    Included in adjusted EBITDA on a pre-tax basis. Specialties and Ketjen Outlook Considerations Specialties outlook reflects modest volume growth in key end markets led by pharma, automotive, and oilfield, partially offset by weakness in building and construction. Ketjen outlook assumes favorable product revenue mix, lower input costs and the continuation of its turnaround plan execution. Segment FY 2025E Specialties net sales $1.3 - $1.5 billion Specialties adjusted EBITDA $210 - $280 million Ketjen net sales $1.0 - $1.1 billion Ketjen adjusted EBITDA $120 - $150 million 3 Other Corporate Outlook Considerations Albemarle expects its 2025 capital expenditures to be in the range of $700 million to $800 million, down more than 50% from $1.7 billion in 2024. This level of spending reflects a prioritization on sustaining existing assets and resources, with the remainder allocated to select growth projects and high-r