SECOND QUARTER 2021 EARNINGS PRESENTATION Earnings Conference Call July 27th, 2021 Click here to edit key takeaway CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 1 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. Examples of such forward-looking statements include but are not limited to: (i) statements regarding the Company's results of operations and financial condition, (ii) statements of plans, objectives or goals of the Company ...

Luxfer Holdings PLC (NYSE:LXFR) Q2 2021 Earnings Conference Call July 27, 2021 8:30 AM ET Company Participants Heather Harding - Chief Financial Officer Alok Maskara - Chief Executive Officer Conference Call Participants Christopher Moore - CJS Securities Craig Irwin - ROTH Capital Partners Sarkis Sherbetchyan - B. Riley Securities Michael Leshock - KeyBanc Capital Markets Operator Good morning. My name is Lisa, and I'll be your conference operator today. Welcome to Luxfer's 2021 Second Quarter Earnings Con ...

Luxfer Holdings PLC (NYSE:LXFR) Q1 2021 Earnings Conference Call April 27, 2021 8:30 AM ET Company Participants Alok Maskara - Chief Executive Officer Heather Harding - Chief Financial Officer Conference Call Participants Chris Moore - CJS Securities Craig Irwin - ROTH Capital Partners Sarkis Sherbetchyan - B. Riley Securities Phil Gibbs - KeyBanc Capital Markets Operator Good morning. My name is Laurie, and I will be your conference operator today. Welcome to Luxfer's 2021 First Quarter Earnings Conference ...

FIRST QUARTER 2021 EARNINGS PRESENTATION Earnings Conference Call April 27th, 2021 Click here to edit key takeaway CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 1 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. Examples of such forward-looking statements include but are not limited to: (i) statements regarding the Company's results of operations and financial condition, (ii) statements of plans, objectives or goals of the Company ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Luxfer Holdings PLC manufactures highly-engineered industrial materials through Elektron and Gas Cylinders segments, serving diverse end-markets with 2020 net sales of $324.8 million Financial Performance from Continuing Operations (2018-2020) | Metric | 2020 | 2019 | 2018 | | :--- | :--- | :--- | :--- | | Net Sales | $324.8 million | $373.4 million | $401.9 million | | Net Income | $20.8 million | $8.7 million | $27.7 million | 2020 Sales Breakdown by Segment | Segment | % of Consolidated Net Sales | | :--- | :--- | | Elektron | 56% | | Gas Cylinders | 44% | 2020 Sales Breakdown by End-Market | End-Market | % of 2020 Sales | | :--- | :--- | | Defense, First Response & Healthcare | 37% | | General Industrial | 35% | | Transportation | 28% | - As of December 31, 2020, the company employed approximately **1,400 people worldwide**, with about **1,200** in continuing operations (700 in the United States and 500 internationally)[40](index=40&type=chunk) - In fiscal year 2020, the company reported a Total Recordable Incident Rate (TRIR) of **1.85**, **8 Lost Time Accidents (LTA)**, and zero work-related fatalities[43](index=43&type=chunk) [Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from the COVID-19 pandemic, cyclical markets, global operations, supply chain dependencies, raw material volatility, pension deficits, and stringent regulations - The COVID-19 pandemic has negatively impacted the global economy, resulting in a decline in the company's revenues and profitability, with future impact remaining uncertain[48](index=48&type=chunk) - The company's top 10 customers accounted for approximately **35% of net sales in 2020**, indicating a significant concentration risk[55](index=55&type=chunk) - There is a reliance on major suppliers for key raw materials, with approximately **40% of aluminum** obtained from Rio Tinto Alcan and its associated companies in 2020[56](index=56&type=chunk) - The company's largest defined benefit pension plan, the Luxfer Group Pension Plan in the U.K., had an accounting deficit of **$45.1 million** as of December 31, 2020, an increase from $30.5 million in 2019[67](index=67&type=chunk) - The company is subject to the European Union's General Data Protection Regulation (GDPR) and UK-GDPR, with potential fines for non-compliance up to **€20 million or 4% of annual group-wide turnover**, whichever is higher[86](index=86&type=chunk) [Properties](index=33&type=section&id=Item%202.%20Properties) Luxfer operates globally with its principal office in Manchester, UK, and 16 manufacturing plants across the U.S., U.K., Canada, and China - The Elektron segment operates from **six plants in the United States** and one each in the United Kingdom and Canada[123](index=123&type=chunk) - The Gas Cylinders segment has manufacturing operations at **three plants in the U.S., three in the U.K., and one each in Canada and China**, with four plants classified as discontinued operations[124](index=124&type=chunk) [Legal Proceedings](index=33&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various lawsuits and claims, with management assessing no material adverse impact from their ultimate resolution - Management's opinion is that the likelihood of any material adverse impact from current legal proceedings is remote[127](index=127&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=34&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Luxfer's common stock trades on the NYSE under "LXFR", with quarterly dividends of $0.125 per share paid in 2020, and no equity repurchases made - The company's common stock is listed on the New York Stock Exchange under the symbol **"LXFR"**[130](index=130&type=chunk) Annual Dividend Payments | Year | Total Dividends Paid | | :--- | :--- | | 2020 | $13.6 million | | 2019 | $13.6 million | | 2018 | $13.4 million | - The company did not purchase any of its ordinary shares during the fourth quarter and entire fiscal year of 2020[143](index=143&type=chunk) [Selected Financial Data](index=36&type=section&id=Item%206.%20Selected%20Financial%20Data) This section presents selected financial data for continuing operations for the five fiscal years ended December 31, 2020, derived from U.S. GAAP audited statements Selected Financial Data from Continuing Operations (2016-2020) | In millions (except per-share data) | 2020 | 2019 | 2018 | 2017 | 2016 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $324.8 | $373.4 | $401.9 | $348.0 | $324.2 | | **Operating income** | $28.5 | $18.7 | $33.6 | $21.8 | $34.1 | | **Net income** | $20.8 | $8.7 | $27.7 | $17.3 | $15.2 | | **Diluted EPS** | $0.74 | $0.31 | $1.00 | $0.65 | $0.57 | | **Total assets** | $346.4 | $390.3 | $408.8 | $415.8 | $399.8 | | **Total long-term obligations** | $113.9 | $138.4 | $133.3 | $157.3 | $196.2 | | **Total shareholders' equity** | $167.1 | $174.4 | $184.3 | $174.5 | $150.4 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Luxfer's 2020 financial performance was significantly impacted by COVID-19, with a 13.0% sales decrease to $324.8 million, yet operating income rose to $28.5 million due to lower charges [Consolidated Results of Operations](index=39&type=section&id=Consolidated%20Results%20of%20Operations) Consolidated net sales decreased by 13.0% to $324.8 million in 2020, while operating income increased by 52.4% to $28.5 million due to reduced charges Consolidated Results of Operations (2019 vs 2020) | In millions | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $324.8 | $373.4 | (13.0)% | | Gross profit | $80.9 | $103.7 | (22.0)% | | Operating income | $28.5 | $18.7 | 52.4% | | Net income | $20.8 | $8.7 | 139.1% | - The decrease in 2020 net sales was heavily influenced by the COVID-19 pandemic, with the most pronounced adverse impact across industrial and transportation end markets[156](index=156&type=chunk) - Restructuring charges decreased significantly to **$8.9 million in 2020** from $25.9 million in 2019, including $7.5 million for the closure of Luxfer Gas Cylinders France[163](index=163&type=chunk) [Segment Results of Operations](index=45&type=section&id=Segment%20Results%20of%20Operations) Gas Cylinders sales decreased by 7.6% to $141.9 million, while Elektron sales declined by 16.8% to $182.9 million, both impacted by COVID-19 Gas Cylinders Segment Performance | In millions | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $141.9 | $153.5 | (7.6)% | | Adjusted EBITDA | $21.3 | $22.3 | (4.5)% | | Adjusted EBITDA % | 15.0% | 14.5% | +0.5 pts | Elektron Segment Performance | In millions | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $182.9 | $219.9 | (16.8)% | | Adjusted EBITDA | $32.6 | $44.8 | (27.2)% | | Adjusted EBITDA % | 17.8% | 20.4% | -2.6 pts | [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) Strong liquidity in 2020 saw $49.3 million cash from operations, enabling early debt repayment and leaving $145.9 million available on the revolving credit facility - Cash provided by operating activities from continuing operations was **$49.3 million in 2020**, which included approximately $7 million of cash spent on restructuring activities[198](index=198&type=chunk) - The company voluntarily repaid its **$25 million Loan Notes due 2021** early on December 31, 2020, incurring an early repayment charge of $0.5 million[206](index=206&type=chunk) - As of December 31, 2020, the company had a **$150 million revolving credit facility** maturing in July 2022, with **$145.9 million available** for drawdown[211](index=211&type=chunk)[212](index=212&type=chunk) Contractual Cash Obligations | In millions | Total | Less than 1 year | 1 – 3 years | 3 – 5 years | After 5 years | | :--- | :--- | :--- | :--- | :--- | :--- | | Loan Notes due 2023 | $25.0 | — | $25.0 | — | — | | Loan Notes due 2026 | $25.0 | — | — | — | $25.0 | | Revolving Credit Facility | $4.1 | — | $4.1 | — | — | | Operating leases | $15.9 | $2.4 | $3.2 | $1.8 | $8.5 | | Interest payments | $16.2 | $2.9 | $4.8 | $2.9 | $5.6 | | **Total** | **$87.3** | **$6.4** | **$37.1** | **$4.7** | **$39.1** | [Critical Accounting Estimates](index=55&type=section&id=Critical%20Accounting%20Estimates) Critical accounting estimates involve significant judgment for goodwill impairment, pension plan valuations, and income taxes, requiring estimates of future growth and discount rates - Goodwill is tested for impairment annually using a quantitative discounted cash flow analysis, bypassing the optional qualitative evaluation in 2020[235](index=235&type=chunk)[296](index=296&type=chunk) - The 2020 goodwill impairment test utilized discount rates ranging from **8.0% to 9.0%** and a perpetual growth rate of **1.8%** for cash flows beyond the three-year planning period[238](index=238&type=chunk)[239](index=239&type=chunk) Key Pension Plan Assumptions (2020) | Plan Location | Discount Rate | Expected Return on Assets | | :--- | :--- | :--- | | U.K. | 1.40% | 3.00% | | U.S. | 2.30% | 5.00% | [Quantitative and Qualitative Disclosures About Market Risk](index=60&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Luxfer faces market risks from foreign currency, commodity prices (especially aluminum), and interest rates, managed through derivatives and impacting costs - The company uses derivative financial instruments, including short-duration currency contracts, to hedge foreign currency risks on sales and purchases[254](index=254&type=chunk) - The company is exposed to aluminum price volatility; a **$100 increase in the LME price** would increase the Gas Cylinders segment's costs by approximately **$0.7 million** based on 2020 purchase levels[391](index=391&type=chunk) - The company has exposure to variable interest rates through its revolving credit facility, with no interest rate hedge agreements in place as of December 31, 2020[258](index=258&type=chunk)[259](index=259&type=chunk) [Financial Statements and Supplementary Data](index=62&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents audited consolidated financial statements for 2018-2020, including an unqualified opinion from PricewaterhouseCoopers LLP on financial statements and internal controls [Report of Independent Registered Public Accounting Firm](index=63&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) PricewaterhouseCoopers LLP issued unqualified opinions on financial statements and internal controls, identifying Goodwill Impairment Assessment as a critical audit matter - The auditor, PricewaterhouseCoopers LLP, issued an **unqualified (clean) opinion** on both the consolidated financial statements and the effectiveness of internal control over financial reporting[265](index=265&type=chunk) - The Goodwill Impairment Assessment was identified as a **Critical Audit Matter** due to the significant management judgments required for estimating the fair value of reporting units using a discounted cash flow analysis[273](index=273&type=chunk)[274](index=274&type=chunk) [Consolidated Financial Statements](index=66&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show 2020 net income of $20.0 million, total assets of $346.4 million, and $49.6 million cash from operating activities Consolidated Statement of Income Highlights (2020) | In millions | Amount | | :--- | :--- | | Net sales (continuing ops) | $324.8 | | Gross profit (continuing ops) | $80.9 | | Operating income (continuing ops) | $28.5 | | Net income from continuing ops | $20.8 | | Net loss from discontinued ops | ($0.8) | | **Net income** | **$20.0** | Consolidated Balance Sheet Highlights (as of Dec 31, 2020) | In millions | Amount | | :--- | :--- | | Total current assets | $150.9 | | Total assets | $346.4 | | Total current liabilities | $65.4 | | Total liabilities | $179.3 | | Total shareholders' equity | $167.1 | Consolidated Statement of Cash Flows Highlights (2020) | In millions | Amount | | :--- | :--- | | Net cash provided by operating activities | $49.6 | | Net cash used for investing activities | ($6.8) | | Net cash used for financing activities | ($52.5) | | Net decrease in cash | ($8.8) | [Notes to Consolidated Financial Statements](index=73&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies, discontinued operations ($53.2 million sales), goodwill ($70.2 million), debt ($53.4 million), and a pension deficit of $50.8 million - The Superform aluminum business and U.S. aluminum gas cylinder business were classified as discontinued operations, generating **$53.2 million in net sales in 2020** and holding **$32.3 million in assets held-for-sale** at year-end[362](index=362&type=chunk)[364](index=364&type=chunk) - As of December 31, 2020, the company had a goodwill balance of **$70.2 million**, with $27.9 million allocated to Gas Cylinders and $42.3 million to Elektron[366](index=366&type=chunk) - Total debt outstanding was **$53.4 million** as of December 31, 2020, comprising $50.0 million in Loan Notes and $4.1 million drawn on the revolving credit facility[381](index=381&type=chunk) - The company's defined benefit pension plans had a total deficit of **$50.8 million** at December 31, 2020, a significant increase from the $35.2 million deficit at the end of 2019[418](index=418&type=chunk) [Controls and Procedures](index=118&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of December 31, 2020, with a prior material weakness in ERP implementation successfully remediated - Management concluded that the company's internal control over financial reporting was **effective** as of December 31, 2020[488](index=488&type=chunk) - A material weakness identified in 2019 related to a new ERP system implementation was **remediated** as of December 31, 2020[489](index=489&type=chunk)[491](index=491&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Compensation, and Principal Accountant Fees](index=121&type=section&id=Items%2010-14) Information for Items 10-14, covering governance, compensation, and related matters, is incorporated by reference from the 2021 Proxy Statement - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the Registrant's definitive proxy statement for its annual general meeting to be held on June 9, 2021[6](index=6&type=chunk)[498](index=498&type=chunk)[499](index=499&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=122&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists financial statements and a comprehensive set of exhibits filed with the Form 10-K, including corporate documents and certifications - This section lists all financial statements, schedules, and exhibits filed with the Form 10-K, including debt agreements, incentive plans, and executive certifications[504](index=504&type=chunk)[505](index=505&type=chunk)

FOURTH QUARTER AND FULL YEAR 2020 Earnings Conference Call February 24th, 2021 Click here to edit key takeaway CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 1 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. Examples of such forward-looking statements include but are not limited to: (i) statements regarding the Company's results of operations and financial condition, (ii) statements of plans, objectives or goals of the Company or ...

Luxfer Holdings PLC (NYSE:LXFR) Q4 2020 Earnings Conference Call February 24, 2021 8:30 AM ET Company Participants Heather Harding – Chief Financial Officer Alok Maskara – Chief Executive Officer Conference Call Participants Chris Moore – CJS Securities Craig Irwin – ROTH Capital Partners Sarkis Sherbetchyan – B. Riley Securities Michael Leshock – KeyBanc Capital Markets Operator Good morning. My name is Lorie, and I will be your conference operator today. Welcome to Luxfer’s 2020 Fourth Quarter and Full Ye ...

| --- | --- | |-----------------------------------------------------------------------------|-------| | | | | | | | INVESTOR PRESENTATION Global Leader in Highly Engineered Advanced Materials | | | | | FORWARD-LOOKING STATEMENTS nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. The Company cautions that a number of important factors cou ...

Financial Data and Key Metrics Changes - Total sales for Q3 2020 were $90.4 million, a decline of 15.6% year-over-year, but an improvement from a 21.1% decline in Q2 [12][48] - Adjusted EBITDA for Q3 was $14.2 million, down 15% compared to the previous year, with adjusted diluted EPS at $0.25, a 31% decrease year-over-year [12][48] - Cash generation was strong, totaling $25.6 million, which helped reduce net debt to $59.3 million, improving the net debt to EBITDA ratio to 1.1 times [13][53] Business Line Data and Key Metrics Changes - In the Defense, First Response, and Healthcare markets, sales declined approximately 8%, with increased demand for disaster relief products offset by a decline in cylinder sales [23] - Transportation sales fell 19%, with modest improvements in luxury passenger auto demand but weakened aerospace applications [24] - General industrial sales also declined 19%, although this was an improvement from a 27% decline in Q2 [25] Market Data and Key Metrics Changes - Order rates improved modestly in July and August but plateaued in September, influenced by U.S. election uncertainty and rising COVID cases [22] - The company noted a shift towards localized supply chains, benefiting Luxfer as most manufacturing is regionally based [18] Company Strategy and Development Direction - The company is executing a transformation strategy focused on cost reduction, new product development, and commercial excellence [10][27] - Future growth areas include alternative fuels, zirconium products, and decontamination kits, with a strong backlog of orders in alternative fuels [88][91] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery despite ongoing challenges, emphasizing the importance of cash generation and maintaining a strong balance sheet [9][64] - The company expects Q4 revenue to remain flat sequentially, with slight improvements in defense and transportation sales [61] Other Important Information - The company plans to publish its first Environmental, Social, and Governance (ESG) report, highlighting sustainability initiatives and long-term goals [30][32] - The transformation plan is expected to deliver $24 million in net cost reductions by the end of next year, with an additional $1 million in savings anticipated for 2020 [47] Q&A Session Summary Question: Clarification on cost savings related to COVID - Management confirmed that COVID-related cost reductions are part of the overall $24 million commitment, with expectations for additional savings as growth recovers [73] Question: Visibility into fiscal 2021 for decontamination kits and heater meals - Management expects sales to continue at 2020 levels, with more confirmation on orders by year-end [74] Question: Brexit impact on operations - Management believes they have adequately planned for Brexit and do not anticipate significant material impacts [81] Question: Growth opportunities for 2021 - Management highlighted alternative fuels, zirconium products, and decontamination kits as top growth areas, with a strong backlog in alternative fuels [88][91] Question: Timing and impact of SCBA sales - Management indicated that supply chain challenges and retooling for COVID have caused delays, but these are not demand-related issues [127] Question: M&A strategy - Management is focused on niche transactions rather than large deals, seeking opportunities that align with their strengths [129] Question: Gasoline particulate filtration growth - Management confirmed growth in this area, starting from a low base, with expectations for significant contributions in the future [136]

THIRD QUARTER 2020 Earnings Conference Call October 27th, 2020 Click here to edit key takeaway CUSTOMER FIRST • INTEGRITY • ACCOUNTABILITY • INNOVATION • PERSONAL DEVELOPMENT • TEAMWORK 1 FORWARD-LOOKING STATEMENTS Click here to edit key takeaway This presentation contains forward-looking statements. Examples of such forward-looking statements include, but are not limited to: (i) statements regarding the Company's results of operations and financial condition, (ii) statements of plans, objectives or goals o ...