Ashland — Nov 4, 2025 release

  Full-year fiscal 2026 guidance • Sales: $1,835 million to $1,905 million , reflecting organic growth of approximately one to five percent over the prior year • Adjusted EBITDA: $400 million to $430 million • Adjusted Diluted Earnings Per Share Excluding Intangibles Amortization Expense growth: double-digit-plus; reflecting operating improvement and Portfolio Optimization. • Ongoing Free Cash Flow Conversion: approximately 50 percent of Adjusted EBITDA; capital expenditures of approximately $100 million Key planning assumptions • Demand environment : Life Sciences and Personal Care end-markets remain resilient. Specialty Additives, specifically coatings, and Intermediates markets remain challenged. While Ashland is tracking macro factors that could support a recovery in coatings, such as lower interest rates and housing turnover, the Company has maintained a cautious stance and excluded upside from the current outlook. • Commercial performance : Ashland expects to outperform underlying markets through share gains, innovation, and globalize initiatives. • Tariffs : tariff related uncertainty persists. The company will continue to monitor the evolving regulatory landscape and execute mitigation plans across sourcing, production, logistics, and pricing, as appropriate. • Input costs : input cost dynamics remain generally stable. Raw material costs are steady, and supply chains are expected to function well. Manufacturing network optimization update 5   Ashland continues to advance the previously announced $60 million manufacturing network optimization initiative. Most plant actions are complete, and we expect to meet our cost targets as Asia-Pacific volumes normalize. As com