Albemarle — Feb 12, 2025 release

This level of spending reflects a prioritization on sustaining existing assets and resources, with the remainder allocated to select growth projects and high-return, quick payback improvements. Other Corporate FY 2025E Capital expenditures $700 - $800 million Depreciation and amortization $630 - $670 million Adjusted effective tax rate (a) (40%) - 25% Corporate costs $70 - $100 million Interest and financing expenses $180 - $210 million Weighted-average common shares outstanding (diluted) 118 million (a)    Adjusted effective tax rate dependent on lithium market prices and geographic income mix Cash Flow and Capital Deployment Cash from operations of $702 million for the year ended December 31, 2024 decreased $623 million compared to the prior-y ear period. This was driven by lower adjusted EBITDA and reduced dividends received from equity investments, partially offset by inflows from working capital. Capital expenditures of $1.7 billion were in-line with outlook considerations and decreased by $463 million versus the prior-year period, reflecting the impact of decisions that stopped or slowed spending and the completion of capacity expansions in Energy Storage and Specialties. Balance Sheet and Liquidity As of December 31, 2024, Albemarle had estimated liquidity of approximately $2.8 billion, including $1.2 billion of cash and equivalents, $1.5 billion available under its revolver and $99 million available on other credit lines. Total debt was $3.5 billion, representing a debt covenant net debt to adjusted EBITDA of approximately 2.6 times. Earnings Call Date: