FORM 10-Q (Mark One) For the quarterly period ended June 30, 2025 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 1-770-569-4229 (Registrant's telephone number, including area code) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from __________________to __________________ 1-13948 (Commission file number) MATIV HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 62-1612879 (State or o ...

Mativ Second Quarter 2025 Earnings Release Presentation August 2025 Forward Looking Statements, Non-GAAP Disclosure, & Definitions This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws that are subject to the safe harbor created by such laws and other legal protections. Caution should be taken not to place undue reliance on any such forward-looking statements because actual results may differ ma ...

Exhibit 99.1 Mativ Announces Second Quarter 2025 Results ALPHARETTA, GA, August 6, 2025 -– Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) reported earnings results for the three months ended June 30, 2025. Adjusted measures are reconciled to GAAP at the end of this release. Financial comparisons are versus the prior year period unless stated otherwise. Figures may not sum to total due to rounding. Mativ Second Quarter 2025 Highlights Mativ Second Quarter 2025 Financial Results | Filtration & A ...

Part I - Financial Information [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) The company reported a Q1 net loss of $425.5 million, driven by a $411.9 million goodwill impairment charge Condensed Consolidated Statements of Income (Loss) (in millions) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | **Net sales** | $484.8 | $500.2 | | **Gross profit** | $72.6 | $84.0 | | **Goodwill impairment expense** | $411.9 | $— | | **Operating loss** | $(430.6) | $(13.8) | | **Net loss** | $(425.5) | $(28.0) | | **Diluted loss per share** | $(7.82) | $(0.52) | Condensed Consolidated Balance Sheet Highlights (in millions) | | **March 31, 2025** | **December 31, 2024** | | :--- | :--- | :--- | | **Total current assets** | $686.2 | Not Provided | | **Goodwill** | $54.8 | $465.6 | | **Total assets** | $2,052.3 | Not Provided | | **Total current liabilities** | $288.1 | Not Provided | | **Long-term debt** | $1,120.1 | $1,086.7 | | **Total liabilities** | $1,624.1 | Not Provided | | **Total stockholders' equity** | $428.2 | $858.5 | Condensed Consolidated Statements of Cash Flows (in millions) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | **Net cash used in operations** | $(15.9) | $(13.0) | | **Net cash used in investing** | $(10.6) | $(21.1) | | **Net cash provided by financing** | $24.5 | $45.8 | [Note 1: General Business and Segments](index=9&type=section&id=Note%201.%20General) The company operates through two segments, FAM and SAS, with the EP business now a discontinued operation - The company has two reportable segments: **Filtration & Advanced Materials (FAM)** and **Sustainable & Adhesive Solutions (SAS)**[25](index=25&type=chunk) - The Engineered Papers (EP) business, sold in November 2023, is presented as a **discontinued operation**[24](index=24&type=chunk) [Note 2: Revenue Recognition](index=10&type=section&id=Note%202.%20Revenue%20Recognition) Total Q1 2025 net sales were $484.8 million, with the US as the largest market and tapes as the top product Net Sales by Geographic Location (in millions) | Region | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | United States | $275.2 | $268.3 | | Europe | $125.8 | $141.1 | | Asia-Pacific | $47.5 | $53.0 | | Americas (excluding U.S.) | $23.8 | $27.5 | | Other foreign countries | $12.5 | $10.3 | | **Total** | **$484.8** | **$500.2** | Net Sales by Product Category | Product Category | Q1 2025 % | Q1 2024 % | | :--- | :--- | :--- | | Filtration & netting | 25% | 26% | | Advanced films | 14% | 15% | | Tapes, labels & liners | 29% | 30% | | Paper & packaging | 16% | 16% | | Healthcare & other | 16% | 13% | - The company utilizes accounts receivable sales agreements to sell certain trade receivables; in Q1 2025, **$238.0 million of trade accounts receivable were sold** to financial institutions[48](index=48&type=chunk)[55](index=55&type=chunk) [Note 6: Goodwill](index=15&type=section&id=Note%206.%20Goodwill) A $411.9 million goodwill impairment was recorded for the FAM segment, with the SAS segment at future risk - A **full goodwill impairment charge of $411.9 million** was recorded for the FAM segment in Q1 2025, reducing its goodwill balance to zero[66](index=66&type=chunk)[69](index=69&type=chunk) - The impairment test was triggered by a **sustained decline in the company's share price**[67](index=67&type=chunk) - The discount rate for the FAM reporting unit was **increased to 14%** to reflect higher perceived risk in achieving forecasted cash flows[69](index=69&type=chunk) - The fair value of the SAS reporting unit exceeded its carrying value by **only 6%**, indicating a risk of future impairment; a 100bps increase in the discount rate for SAS would result in an impairment of approximately **$15.0 million**[71](index=71&type=chunk)[179](index=179&type=chunk) [Note 8: Restructuring and Other Impairment Activities](index=17&type=section&id=Note%208.%20Restructuring%20and%20Other%20Impairment%20Activities) Q1 2025 restructuring and impairment expenses totaled $6.3 million, mainly from a realignment initiative Restructuring and Other Impairment Expense (in millions) | Category | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total restructuring expense | $1.0 | $14.4 | | Other impairment expense (FAM) | $5.3 | $— | | **Total** | **$6.3** | **$14.4** | - In January 2024, the company announced an organizational realignment initiative (the 'Plan') to streamline the organization and reduce costs; charges in Q1 2024 related to this plan were **$12.7 million**[75](index=75&type=chunk) [Note 9: Debt](index=18&type=section&id=Note%209.%20Debt) Total debt increased to $1.123 billion as of March 31, 2025, with the company in covenant compliance Total Debt Summary (in millions) | | **March 31, 2025** | **December 31, 2024** | | :--- | :--- | :--- | | Revolving facility | $269.1 | $237.0 | | Term loans (A, B, Delayed Draw) | $470.0 | $470.0 | | 8.000% Senior unsecured notes | $400.0 | $400.0 | | **Total debt (net of issuance costs)** | **$1,122.8** | **$1,089.3** | - The company was in **compliance with all debt covenants** as of March 31, 2025, including a net debt to EBITDA ratio not greater than 5.50x and an interest coverage ratio not less than 2.50x[91](index=91&type=chunk)[92](index=92&type=chunk) [Note 14: Segment Information](index=25&type=section&id=Note%2014.%20Segment%20Information) The FAM segment's goodwill impairment drove a consolidated operating loss despite SAS segment profitability Segment Results (in millions) | | Three Months Ended March 31, 2025 | | :--- | :--- | :--- | :--- | | | **FAM** | **SAS** | **Consolidated** | | **Net Sales** | $187.6 | $297.2 | $484.8 | | **Operating profit (loss)** | $(410.0) | $13.0 | $(430.6) | Segment Operating Profit (Loss) Comparison (in millions) | | **Q1 2025** | **Q1 2024** | | :--- | :--- | :--- | | **FAM** | $(410.0) | $14.6 | | **SAS** | $13.0 | $4.2 | | **Total Segments** | $(397.0) | $18.8 | | **Unallocated** | $(33.6) | $(32.6) | | **Consolidated** | $(430.6) | $(13.8) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes the Q1 2025 results, focusing on the goodwill impairment's impact and liquidity [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Consolidated net sales decreased 3.1%, with a large operating loss driven by the FAM goodwill impairment Net Sales by Segment (in millions) | Segment | Q1 2025 | Q1 2024 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Filtration & Advanced Materials | $187.6 | $202.7 | $(15.1) | (7.4)% | | Sustainable & Adhesive Solutions | $297.2 | $297.5 | $(0.3) | (0.1)% | | **Total** | **$484.8** | **$500.2** | **$(15.4)** | **(3.1)%** | - The FAM segment's operating loss was **$410.0 million**, a $424.6 million decrease from the prior year, primarily due to the **$411.9 million goodwill impairment**[156](index=156&type=chunk) - The SAS segment's operating profit **increased by $8.8 million to $13.0 million**, driven by higher volume and lower SG&A expenses[157](index=157&type=chunk) - The effective tax rate was **5.5% in Q1 2025**, down from 7.9% in Q1 2024, primarily due to the non-deductible goodwill impairment and an increased valuation allowance[161](index=161&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains sufficient liquidity with $84.0 million in cash and $323.2 million in revolver capacity - As of March 31, 2025, the company had **$84.0 million in cash**, $9.8 million in restricted cash, and **$323.2 million of undrawn revolver capacity**[142](index=142&type=chunk) - **Net leverage was 4.7x** at the end of Q1 2025, versus a maximum covenant ratio of 5.50x[142](index=142&type=chunk) - The total debt to capital ratio **increased to 72.4%** at March 31, 2025, from 55.9% at December 31, 2024, largely due to the reduction in equity from the goodwill impairment[175](index=175&type=chunk) - A cash dividend of **$0.10 per share** was announced on May 7, 2025[172](index=172&type=chunk) [Critical Accounting Policies and Estimates](index=34&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) A material change in goodwill estimates led to a $411.9 million impairment for the FAM reporting unit - An interim goodwill impairment test was performed in Q1 2025 due to a **sustained decline in the Company's share price**[177](index=177&type=chunk) - The test resulted in a **full non-cash impairment of all goodwill for the FAM reporting unit**, amounting to **$411.9 million**, after increasing the discount rate to 14%[178](index=178&type=chunk) - The fair value of the SAS reporting unit was estimated to exceed its carrying value by **only 6%**, indicating a heightened risk of future impairment charges[179](index=179&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk exposure has not materially changed from the 2024 year-end report - There have been **no material changes** to the company's market risk exposure since the 2024 year-end report[186](index=186&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed effective with no material changes to internal controls - The CEO and CFO concluded that **disclosure controls and procedures were effective** as of March 31, 2025[187](index=187&type=chunk) - **No changes in internal control over financial reporting** occurred in Q1 2025 that have materially affected, or are reasonably likely to materially affect, internal controls[189](index=189&type=chunk) Part II - Other Information [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) Current legal proceedings are not expected to have a material adverse effect on the company's financials - The Company is not currently a party to any legal proceedings that it believes would have a **material adverse effect** on its financial position[191](index=191&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the 2024 Annual Report - **No material changes** to risk factors were reported since the 2024 Annual Report on Form 10-K[192](index=192&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase any common stock in Q1 2025, with $22.0 million remaining authorized - The company **did not repurchase any shares** during Q1 2025[194](index=194&type=chunk) - The remaining amount authorized for share repurchases is **$22.0 million** as of March 31, 2025[194](index=194&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and agreements Signatures

Financial Data and Key Metrics Changes - Consolidated net sales from continuing operations for Q1 were $485 million, down 3% year over year, and essentially flat on an organic basis [23] - Adjusted EBITDA from continuing operations was $37.2 million, down 19% from $45.8 million in the prior year [23] - Net debt at the end of the quarter was $1.04 billion, with a net leverage ratio of 4.7 times [27][28] Business Line Data and Key Metrics Changes - In the Filtration and Advanced Materials (FAM) segment, net sales were $188 million, down more than 7% year over year, reflecting lower volumes and unfavorable currency translation [24] - The Sustainable and Adhesive Solutions (SaaS) segment saw net sales of $297 million, up almost 6% on an organic basis, with adjusted EBITDA performance of $33 million, up more than 3% year over year [25][26] Market Data and Key Metrics Changes - Demand patterns reflected in Q1 showed sales were flat organically year over year, with SaaS segment growth offset by softness in FAM results, particularly in automotive and construction end markets [16][17] - Less than 7% of annual sales are currently subject to tariff exposure, indicating a strong localized supply chain [19][20] Company Strategy and Development Direction - The company is focusing on three near-term priorities: enhancing commercial execution, deleveraging the balance sheet, and conducting a strategic review of its portfolio [9][34] - A task force is reviewing cost and operating structures to achieve additional cost reductions of $10 million to $15 million in 2025, alongside previously announced reductions [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a continuously suppressed demand environment and the need for operational improvements [6][8] - There is an expectation for a significant sequential step up in adjusted EBITDA performance in Q2, driven by increased volume and improved pricing [30] Other Important Information - The company plans to reduce capital expenditures to $40 million per year, down from $55 million in 2024, and aims to lower inventory levels by $20 million to $30 million in 2025 [14][29] - A goodwill impairment analysis resulted in a pretax non-cash charge of $412 million due to sustained decline in share price [27] Q&A Session Summary Question: Insights on the portfolio review - Management is evaluating how each product category contributes to the bottom line and overall portfolio diversity, with updates to be provided as progress is made [39][40] Question: Timing for cash flow generation improvements - Significant cash flow increases are expected in Q2, driven by inventory reductions and improved sequential EBITDA [42][43] Question: Margin contraction causes and dividend policy - Management identified that margin suppression is primarily due to the FAM business and is working towards improving margins through cost reductions and pricing actions [49][50] - The decision to continue paying dividends has been discussed with the board, and the current plan is to maintain the dividend [54]

Financial Data and Key Metrics Changes - Consolidated net sales from continuing operations for Q1 2025 were $485 million, down 3% year over year, and essentially flat on an organic basis [24] - Adjusted EBITDA from continuing operations was $37.2 million, down 19% from $45.8 million in the prior year [24] - The net leverage ratio was 4.7 times, with about 0.8 times headroom versus the covenant level of 5.5 times [28] Business Line Data and Key Metrics Changes - In the Filtration and Advanced Materials (FAM) segment, net sales were $188 million, down more than 7% year over year, reflecting lower volumes and unfavorable currency translation [25] - The Sustainable and Adhesive Solutions (SaaS) segment saw net sales of $297 million, up almost 6% on an organic basis, with adjusted EBITDA performance of $33 million, up more than 3% year over year [26] Market Data and Key Metrics Changes - Demand patterns reflected in Q1 showed sales were flat organically year over year, with SaaS segment growth offset by softness in FAM results due to automotive and construction market challenges [16][18] - Less than 7% of annual sales are currently subject to tariff exposure, indicating a strong localized supply chain [20][22] Company Strategy and Development Direction - The company has established three near-term priorities: enhancing commercial execution, deleveraging the balance sheet, and conducting a strategic portfolio review [8][9] - A focus on cross-selling and moving existing products into adjacent applications is part of the strategy to stimulate top-line growth [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the current demand environment remains suppressed and is not expected to return to pre-pandemic levels soon [31] - A significant sequential increase in adjusted EBITDA performance is anticipated, driven by volume increases and improved pricing relative to input costs [31] Other Important Information - The company plans to reduce capital expenditures to $40 million per year, down from $55 million in 2024, and aims to reduce inventory levels by $20 million to $30 million in 2025 [14][30] - A goodwill impairment analysis resulted in a pretax non-cash charge of $412 million due to sustained decline in share price [28] Q&A Session Summary Question: Insights on the portfolio review and cash flow generation - Management is evaluating the portfolio to maximize value and strengthen the balance sheet, with updates to be provided as progress is made [40] - A significant increase in cash flow is expected in Q2, driven by inventory reductions and improved EBITDA [42] Question: Margin contraction and dividend policy - Management identified that the FAM business has been the primary impact on margins, with expectations for improvement through cost reductions and pricing actions [49][53] - The board has discussed the dividend and plans to continue it for now, despite the focus on deleveraging [54] Question: Impact of tariffs and inflation - The company has minimal exposure to tariffs from China and is actively managing pricing to cover input costs, with expectations for favorable pricing contributions in Q2 [59][61] - Input costs are not expected to rise significantly, allowing for effective management of the price-cost spread [61] Question: Addressing weaknesses in automotive and construction segments - Management is building a robust pipeline in the optical, medical, and dental fields to offset weaknesses in automotive and construction, with expectations for growth in these areas [65]

This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws that are subject to the safe harbor created by such laws and other legal protections. Caution should be taken not to place undue reliance on any such forward-looking statements because actual results may differ materially from the results suggested by these statements. These forward-looking statements are made only as of the date of this pres ...

[Q1 2025 Overview and Management Commentary](index=1&type=section&id=Mativ%20First%20Quarter%202025%20Highlights) Mativ's Q1 2025 performance was mixed, with the new CEO emphasizing urgent operational improvements and strategic priorities [Management Commentary and Strategic Priorities](index=1&type=section&id=Management%20Commentary) The new CEO outlined three key priorities: enhanced commercial execution, balance sheet de-leveraging, and strategic portfolio review - The new CEO highlighted that the company is not where it needs to be operationally and is pivoting to a much higher sense of urgency to restore shareholder value[4](index=4&type=chunk) - The company's top priorities are to accelerate execution with a focus on three key areas: - Driving enhanced commercial execution - Sharpening efforts to de-lever the balance sheet - Conducting a strategic review of the portfolio[5](index=5&type=chunk) - The SAS segment delivered its **fifth consecutive quarter of strong year-over-year results**, with approximately **6% organic revenue growth**, while FAM performance was negatively impacted by higher-priced inventory and slow demand in key markets[6](index=6&type=chunk) [Q1 2025 Financial Highlights](index=1&type=section&id=Q1%202025%20Financial%20Highlights) Mativ reported a significant GAAP loss of $425.5 million due to goodwill impairment, despite nearly flat organic sales Q1 2025 Key Financial Metrics | Metric | Q1 2025 Value | YoY Change | Key Drivers | | :--- | :--- | :--- | :--- | | **Net Sales** | $484.8 million | -3.1% | Organic sales were nearly flat (-0.2%) | | **GAAP Loss** | $(425.5) million | N/A | Includes a $411.9 million non-cash goodwill impairment charge | | **GAAP EPS** | $(7.82) | N/A | Includes $7.57 per share impact from goodwill impairment | | **Adjusted EBITDA** | $37.2 million | -19% | Lower SG&A and higher SAS volume were offset by higher costs and lower FAM volume | | **Adjusted EPS** | $(0.14) | N/A | Down from prior year | [Segment and Financial Performance](index=2&type=section&id=Mativ%20First%20Quarter%202025%20Financial%20Results) Detailed analysis of FAM and SAS segment performance, highlighting the impact of goodwill impairment and operational challenges [Filtration & Advanced Materials (FAM) Segment](index=2&type=section&id=Filtration%20%26%20Advanced%20Materials%20%28FAM%29) FAM segment sales decreased by 7.4% with a substantial GAAP operating loss due to goodwill impairment and higher costs FAM Segment Q1 2025 Performance (in millions) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $187.6 | $202.7 | $(15.1) | | **GAAP Operating Profit** | $(410.0) | $14.6 | $(424.6) | | **Adjusted EBITDA** | $23.3 | $33.2 | $(9.9) | | **Adjusted EBITDA Margin** | 12.4% | 16.4% | -400 bps | - The significant GAAP Operating Loss in Q1 2025 was driven by **$417.9 million in restructuring and impairment expenses**, primarily related to goodwill impairment[9](index=9&type=chunk) - The **30% decrease in Adjusted EBITDA** was caused by lower volume/mix, higher manufacturing and distribution costs, and unfavorable net selling price versus input cost performance, which more than offset lower SG&A expenses[9](index=9&type=chunk) [Sustainable & Adhesive Solutions (SAS) Segment](index=2&type=section&id=Sustainable%20%26%20Adhesive%20Solutions%20%28SAS%29) SAS segment achieved 5.7% organic sales growth and improved Adjusted EBITDA, driven by higher volumes and lower SG&A SAS Segment Q1 2025 Performance (in millions) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $297.2 | $297.5 | $(0.3) | | **GAAP Operating Profit** | $13.0 | $4.2 | $8.8 | | **Adjusted EBITDA** | $33.3 | $32.3 | $1.0 | | **Adjusted EBITDA Margin** | 11.2% | 10.9% | +30 bps | - Organic sales grew **5.7%** due to higher volume across all product categories, which was offset by sales from closed/divested plants and unfavorable currency translation on a reported basis[10](index=10&type=chunk) - Adjusted EBITDA increased by **over 3%**, driven by higher volume and lower SG&A expenses, which were partially offset by higher manufacturing costs and unfavorable price vs input cost performance[11](index=11&type=chunk) [Other Financial Items & Capital Management](index=2&type=section&id=Other%20Financial%20Items%20%26%20Capital%20Management) Interest expense decreased, cash used in operations was $15.9 million, and net debt stood at $1,038.8 million - Interest expense decreased to **$17.8 million** from $18.3 million in the prior year, due to lower average balances and interest rates[13](index=13&type=chunk) - Year-to-date cash used in operating activities was **$15.9 million**, with working capital being a **$22.1 million** use of cash[15](index=15&type=chunk) Debt and Liquidity as of March 31, 2025 (in millions) | Metric | Amount | | :--- | :--- | | **Total Debt** | $1,122.8 | | **Cash and Cash Equivalents** | $84.0 | | **Net Debt** | $1,038.8 | | **Total Liquidity** | ~$407 | - The company announced a quarterly cash dividend of **$0.10 per share**, with no shares repurchased during the first quarter[17](index=17&type=chunk)[18](index=18&type=chunk) [Consolidated Financial Statements](index=8&type=section&id=Consolidated%20Financial%20Statements) Presents the company's income, balance sheet, and cash flow statements, reflecting the significant Q1 2025 net loss [Consolidated Statements of Income (Loss)](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20INCOME%20%28LOSS%29) Q1 2025 net sales decreased to $484.8 million, resulting in a $425.5 million net loss primarily due to goodwill impairment Q1 2025 Consolidated Income Statement Highlights (in millions, except per share) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net sales** | $484.8 | $500.2 | | **Gross profit** | $72.6 | $84.0 | | **Goodwill impairment expense** | $411.9 | $— | | **Operating loss** | $(430.6) | $(13.8) | | **Net loss** | $(425.5) | $(28.0) | | **Diluted loss per share** | $(7.82) | $(0.52) | [Consolidated Balance Sheets](index=9&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) Total assets decreased to $2,052.3 million due to goodwill impairment, significantly reducing stockholders' equity Balance Sheet Highlights (in millions) | Metric | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $686.2 | $658.1 | | **Goodwill** | $54.8 | $465.6 | | **Total assets** | $2,052.3 | $2,447.9 | | **Total current liabilities** | $288.1 | $274.5 | | **Long-term debt** | $1,120.1 | $1,086.7 | | **Total liabilities** | $1,624.1 | $1,589.4 | | **Total stockholders' equity** | $428.2 | $858.5 | [Consolidated Statements of Cash Flow](index=10&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOW) Q1 2025 saw a net cash outflow from operations of $15.9 million, with financing activities providing $24.5 million Q1 2025 Cash Flow Highlights (in millions) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net cash used in operations** | $(15.9) | $(13.0) | | **Net cash used in investing** | $(10.6) | $(21.1) | | **Net cash provided by financing** | $24.5 | $45.8 | | **Cash at end of period** | $93.8 | $128.9 | [Non-GAAP Reconciliations and Supplemental Data](index=11&type=section&id=Non-GAAP%20Reconciliations%20and%20Supplemental%20Data) Provides detailed reconciliations of GAAP to non-GAAP financial measures, including segment reporting and organic sales growth [Business Segment Reporting & Reconciliations](index=11&type=section&id=BUSINESS%20SEGMENT%20REPORTING) Reconciles GAAP operating loss to adjusted EBITDA, highlighting significant non-GAAP adjustments, primarily from FAM segment impairment Q1 2025 Reconciliation from GAAP Operating Loss to Adjusted EBITDA (in millions) | Metric | FAM | SAS | Unallocated | Consolidated | | :--- | :--- | :--- | :--- | :--- | | **GAAP Operating Profit (Loss)** | $(410.0) | $13.0 | $(33.6) | $(430.6) | | **Adjusted Operating Profit** | $16.4 | $20.2 | $(21.4) | $15.2 | | **Adjusted EBITDA** | $23.3 | $33.3 | $(19.4) | $37.2 | - Total non-GAAP adjustments to operating profit were **$445.8 million** in Q1 2025, dominated by the **$417.9 million** in restructuring and impairment expenses within the FAM segment[36](index=36&type=chunk) [Organic Net Sales Growth Reconciliation](index=13&type=section&id=Non-GAAP%20Reconciliation%20of%20Organic%20Net%20Sales%20Growth) Consolidated organic sales grew 0.2%, driven by strong SAS segment performance offset by FAM segment decline Q1 2025 Organic Net Sales Growth vs. Q1 2024 | Segment | Reported Growth | Organic Growth | Organic Constant Currency Growth | | :--- | :--- | :--- | :--- | | **FAM** | -7.4% | -7.4% | -6.4% | | **SAS** | -0.1% | 5.7% | 6.6% | | **Consolidated** | -3.1% | 0.2% | 1.2% | [Reconciliation of Net Loss to Adjusted Measures](index=14&type=section&id=RECONCILIATION%20OF%20NON-GAAP%20FINANCIAL%20MEASURES%20AND%20SUPPLEMENTAL%20DATA) Reconciles GAAP net loss and EPS to adjusted figures, showing a $6.0 million adjusted loss and a $29.8 million free cash flow outflow Q1 2025 Reconciliation of GAAP to Adjusted Net Loss and EPS | Metric | GAAP Value | Adjustments | Adjusted Value | | :--- | :--- | :--- | :--- | | **Net Loss (millions)** | $(425.5) | $419.5 | $(6.0) | | **Diluted EPS** | $(7.82) | $7.68 | $(0.14) | - The largest adjustments to diluted EPS were for goodwill impairment (**+$6.35**) and a change of valuation allowance on tax attributes (**+$0.88**)[41](index=41&type=chunk) Q1 2025 Free Cash Flow and Net Debt (in millions) | Metric | Value | | :--- | :--- | | **Cash used in operating activities** | $(15.9) | | **Free cash flow** | $(29.8) | | **Net debt** | $1,038.8 |

Financial Data and Key Metrics Changes - The meeting focused on formal actions and voting on various proposals, but specific financial data and key metrics changes were not disclosed during the meeting [4][24]. Business Line Data and Key Metrics Changes - No specific data or key metrics changes for individual business lines were provided in the meeting [24]. Market Data and Key Metrics Changes - There were no updates or changes regarding market data or key metrics mentioned during the meeting [24]. Company Strategy and Development Direction and Industry Competition - The company ratified the selection of Deloitte and Touche as the independent registered public accounting firm, indicating a commitment to maintaining strong governance and oversight [15][16]. - The approval of the amendment to the 2024 equity and incentive plan suggests a focus on aligning executive compensation with company performance and shareholder interests [22][23]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [24][25]. Other Important Information - The meeting included the election of a director and the approval of various proposals, including executive compensation and the equity incentive plan, reflecting ongoing governance activities [12][18][22]. Q&A Session Summary - There were no pertinent questions submitted during the webcast, leading to the conclusion of the Q&A session without any discussions [25].

Company Overview - Mativ Holdings, Inc. (MATV) is currently experiencing significant activity in the options market, particularly with the June 20, 2025 $20 Call option showing high implied volatility, indicating expectations of a substantial price movement [1] Implied Volatility Insights - Implied volatility reflects market expectations for future price movements, suggesting that investors anticipate a major event that could lead to either a rally or a sell-off [2] - High implied volatility in options often attracts traders looking to sell premium, aiming to benefit from the decay of options value if the stock does not move as much as anticipated [4] Analyst Sentiment - Mativ Holdings holds a Zacks Rank of 5 (Strong Sell) within the Chemical – Specialty industry, which is positioned in the bottom 41% of the Zacks Industry Rank [3] - Over the past 60 days, there have been no increases in earnings estimates for the current quarter, with one analyst reducing their estimate, leading to a decrease in the Zacks Consensus Estimate from 17 cents per share to 11 cents [3]