Core Points - NewMarket Corporation (NYSE: NEU) is set to release its third quarter 2025 earnings on October 30, 2025 [1] - The earnings announcement will be available on the company's website the following day [1] - A conference call and webcast to discuss the financial results is scheduled for 3:00 pm ET on October 31, 2025 [1] - The conference call can be accessed live by dialing 1-877-545-0 [1]

Group 1 - NewMarket Corporation (NYSE:NEU) has finalized a deal to acquire Mars TopCo, LLC from AE Industrial Partners, enhancing its position in the specialty chemicals sector [1][2] - The acquisition will allow NewMarket to expand its footprint in the aerospace and defense industries, particularly in mission-critical chemicals [2] - This agreement is expected to finalize in 2025 and marks NewMarket's second recent acquisition in the aerospace and defense sectors [2] Group 2 - NewMarket Corporation is a significant player in the petroleum additives market, supplying essential components for hydraulic fluids, engine oils, and biofuels across various sectors [3]

Group 1 - NewMarket Corporation has completed the acquisition of Mars TopCo, LLC, which is the parent company of Calca Solutions, LLC [1] - Calca Solutions is recognized as the leading producer of UltraPure and high-purity hydrazine in the United States [1] - The hydrazine produced by Calca is essential for advanced aerospace and defense applications, indicating its critical role in the industry [1]

Financial Performance - NewMarket Corporation (NYSE: NEU) has a solid financial position and outperforms peers in profitability metrics [1] - The company is a consistent dividend payer, which may justify its stock trading at a premium compared to peers [1] Investment Strategy - The investment strategy involves a top-down view of the global economy combined with a bottom-up analysis of individual companies [1] - The approach starts with identifying strong economies and favorable currencies using macro data and statistical tools, followed by sector selection likely to perform well [1] - The focus then shifts to quality companies with solid momentum and consistent results [1]

Financial Performance - NewMarket Corporation (NYSE: NEU) has a solid financial position and outperforms peers in profitability metrics [1] - The company is a consistent dividend payer, which may justify its stock trading at a premium compared to peers [1] Investment Strategy - The investment strategy involves a top-down view of the global economy combined with a bottom-up analysis of individual companies [1] - The approach starts with identifying strong economies and favorable currencies using macro data and statistical tools, followed by sector selection likely to perform well [1] - The focus then shifts to quality companies that exhibit solid momentum and consistent results [1]

For personal use only Investor presentation 27 August 2025 IMPROVING THE LIVES OF PEOPLE WITH NEURODEVELOPMENTAL DISABILITIES P aa g e� 1 1 Forward looking statements This presentation contains forward looking statements that involve risks and uncertainties . Although we believe that the expectations reflected in the forward looking statements are reasonable at this time, Neuren can give no assurance that these expectations will prove to be correct . Actual results could differ materially from those anticip ...

Financial Data and Key Metrics Changes - Net income for Q2 2025 was $111 million or $11.84 per share, compared to $112 million or $11.63 per share for Q2 2024 [3] - Record net income for the first half of 2025 was $237 million or $25.11 per share, compared to $219 million or $22.87 per share for the same period in 2024 [3] - Petroleum additives sales for Q2 2025 were $654 million, down from $670 million in Q2 2024 [3][4] - Operating profit for petroleum additives in Q2 2025 was $140 million, compared to $148 million in Q2 2024 [4] Business Line Data and Key Metrics Changes - Petroleum additives segment sales for the first half of 2025 were $1.3 billion, essentially flat compared to the same period in 2024 [4] - Operating profit for the petroleum additives segment for the first half of 2025 was $282 million, down from $299 million in 2024 [4] - Specialty Materials sales for Q2 2025 were $42 million, up from $38 million in Q2 2024, with operating profit increasing to $11 million from $5 million [6] - Specialty Materials segment sales for the first half of 2025 were $96 million, compared to $55 million in the same period in 2024, with operating profit rising to $34 million from slightly above breakeven [7] Market Data and Key Metrics Changes - Shipments in the petroleum additives segment were down by 4.9% when comparing Q2 2025 with the same period in 2024 [5] - The company reported solid cash flows throughout 2025, allowing for $129 million returned to shareholders through share repurchases and dividends [7] Company Strategy and Development Direction - The company is committed to investing in technology to meet customer needs, optimizing inventory levels, and improving portfolio profitability [5] - The company views AMPAC as a strategic national asset and is investing in additional capacity to meet growing customer needs [7] - The company aims to promote long-term value for shareholders and customers while focusing on long-term objectives [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of the petroleum additives and specialty materials segments [8] - The company remains challenged by ongoing inflationary pressures and the impact of tariffs [5] - Management emphasized a long-term perspective, safety-first culture, customer-focused solutions, and technology-driven products as guiding principles [8] Other Important Information - As of June 30, 2025, the net debt to EBITDA ratio improved to 1.0 from 1.2 in 2024 [8] Q&A Session Summary - No specific questions or answers were documented in the provided content.

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section provides the company's unaudited financial statements and management's analysis for the recent reporting period [Financial Statements (unaudited)](index=4&type=section&id=ITEM%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited consolidated financial statements for the second quarter and six months ended June 30, 2025, and 2024, including detailed notes [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) This section presents the company's revenues, expenses, and net income for the specified periods Consolidated Income Statement Highlights (in millions, except per-share amounts) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $698.5 | $710.2 | $1,399.5 | $1,407.0 | | **Gross Profit** | $221.0 | $218.5 | $457.0 | $434.8 | | **Operating Profit** | $143.2 | $147.0 | $303.0 | $287.8 | | **Net Income** | $111.2 | $111.6 | $237.2 | $219.4 | | **EPS (basic and diluted)** | $11.84 | $11.63 | $25.11 | $22.87 | | **Cash Dividends per Share** | $2.75 | $2.50 | $5.50 | $5.00 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section details the company's assets, liabilities, and equity at specific points in time Condensed Consolidated Balance Sheet Highlights (in millions) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $1,067.8 | $1,029.6 | | **Total Assets** | $3,194.5 | $3,129.5 | | **Total Current Liabilities** | $402.1 | $374.5 | | **Long-term Debt** | $841.8 | $971.3 | | **Total Liabilities** | $1,582.8 | $1,668.0 | | **Total Shareholders' Equity** | $1,611.7 | $1,461.6 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities Condensed Consolidated Cash Flow Highlights (in millions) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Cash from Operating Activities** | $281.4 | $217.8 | | **Cash from Investing Activities** | $(29.3) | $(710.0) | | **Cash from Financing Activities** | $(264.2) | $470.5 | | **Decrease in Cash** | $(7.2) | $(24.3) | | **Cash at End of Period** | $70.3 | $87.6 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and additional information supporting the condensed financial statements - On January 16, 2024, the company acquired American Pacific Corporation (AMPAC) for approximately **$697 million**, funded by cash and borrowings, expanding its presence in mission-critical specialty materials for space launch and military defense[22](index=22&type=chunk) - The company operates through two reportable segments: Petroleum Additives and Specialty Materials, with Petroleum Additives being the primary revenue driver and Specialty Materials significantly expanded by the AMPAC acquisition[37](index=37&type=chunk) - Total long-term debt decreased to **$841.8 million** as of June 30, 2025, from **$971.3 million** at December 31, 2024, following principal payments on senior notes and a term loan[62](index=62&type=chunk)[131](index=131&type=chunk) - Total accruals for environmental remediation, dismantling, and decontamination were approximately **$11 million** at both June 30, 2025, and December 31, 2024[71](index=71&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management provides an analysis of financial results for the first six months of 2025 compared to 2024, highlighting segment performance, financial position, and liquidity [Results of Operations](index=20&type=section&id=Results%20of%20Operations) This section analyzes the company's operational performance, including segment sales and profitability Net Sales by Segment (in millions) | Segment | H1 2025 | H1 2024 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Petroleum Additives | $1,299.4 | $1,347.1 | $(47.7) | -3.5% | | Specialty Materials | $95.8 | $55.1 | $40.7 | +73.9% | | **Total Net Sales** | **$1,399.5** | **$1,407.0** | **$(7.5)** | **-0.5%** | Segment Operating Profit (in millions) | Segment | H1 2025 | H1 2024 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Petroleum Additives | $281.9 | $298.7 | $(16.8) | -5.6% | | Specialty Materials | $33.7 | $0.0 | $33.7 | N/A | - Petroleum additives shipments decreased by **4.9%** in the first six months of 2025 compared to the same period in 2024, primarily due to lower lubricant additives shipments in Asia Pacific and North America[98](index=98&type=chunk)[100](index=100&type=chunk) - The effective tax rate increased to **23.9%** for the first six months of 2025 from **21.9%** in the prior-year period, primarily driven by income from foreign operations[118](index=118&type=chunk) [Cash Flows, Financial Condition, and Liquidity](index=23&type=section&id=Cash%20Flows%2C%20Financial%20Condition%2C%20and%20Liquidity) This section discusses the company's cash generation, financial position, and ability to meet its short-term and long-term obligations - Cash provided from operating activities was **$281.4 million** for the first six months of 2025[124](index=124&type=chunk) - Capital spending for 2025 is expected to be between **$70 million and $100 million**, including a significant investment to expand AMPAC's production capacity by over **50%**[127](index=127&type=chunk)[128](index=128&type=chunk) - In the first six months of 2025, the company used cash for **$77.2 million** in stock repurchases, **$51.9 million** in dividends, and **$130 million** in net debt repayments[130](index=130&type=chunk) - The company was in compliance with all debt covenants, with a Leverage Ratio of **1.13** at June 30, 2025, well below the maximum of **3.75**[133](index=133&type=chunk)[134](index=134&type=chunk) [Outlook](index=24&type=section&id=Outlook) This section provides management's forward-looking statements regarding future performance and strategic priorities - The company's long-term goal is to provide a **10%** compounded annual return for shareholders, defined as EPS growth plus dividend yield[138](index=138&type=chunk) - Management expects the petroleum additives market to grow **1-2%** annually over the long term and plans for its segment to exceed that growth rate[139](index=139&type=chunk) - The primary focus for future acquisitions remains within the petroleum additives industry, though other value-enhancing opportunities like the AMPAC acquisition will be considered[144](index=144&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its market risk profile since the disclosures made in its 2024 Annual Report on Form 10-K - At June 30, 2025, there were no material changes in market risk from the information provided in the 2024 Annual Report[145](index=145&type=chunk) [Controls and Procedures](index=25&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Based on an evaluation conducted by management, including the CEO and CFO, the company's disclosure controls and procedures were concluded to be effective as of June 30, 2025 - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of the end of the period[146](index=146&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, internal controls[147](index=147&type=chunk) [PART II. OTHER INFORMATION](index=26&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers various non-financial disclosures, including legal proceedings, equity sales, and exhibits [Legal Proceedings](index=26&type=section&id=ITEM%201.%20Legal%20Proceedings) The company reports that there have been no material changes to its legal proceedings as disclosed in the 2024 Annual Report - There have been no material changes to legal proceedings as disclosed in the 2024 Annual Report[148](index=148&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company details its share repurchase activity under a **$500 million** authorization effective January 1, 2025, including shares repurchased in Q2 2025 - A share repurchase program authorizing up to **$500 million** was approved by the Board, effective from January 1, 2025, to December 31, 2027[149](index=149&type=chunk) Share Repurchases in Q2 2025 | Period | Total Shares Purchased | Average Price Paid per Share | Approx. Dollar Value Remaining for Purchase | | :--- | :--- | :--- | :--- | | **Total Q2** | 36,812 | $537.66 | $428.2 million | [Other Information](index=26&type=section&id=ITEM%205.%20Other%20Information) The company confirms that no director or officer adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the second quarter of 2025 - During the quarter ended June 30, 2025, no director or officer adopted or terminated a Rule 10b5-1 trading arrangement[153](index=153&type=chunk) [Exhibits](index=26&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed with the 10-Q report, including corporate governance documents and certifications by the CEO and CFO - The report includes certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act of 2002, as well as Inline XBRL data files[154](index=154&type=chunk)

[NewMarket Corporation Q2 & H1 2025 Earnings Report](index=1&type=section&id=NewMarket%20Corporation%20Reports%20Second%20Quarter%20and%20First%20Half%202025%20Results) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Record H1 2025 net income was driven by strong performance, offsetting a slight decline in Q2 net income | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $111.2M | $111.6M | $237.2M | $219.4M | | **EPS (diluted)** | $11.84 | $11.63 | $25.11 | $22.87 | - The first half of 2025 marked a record for **Net Income ($237 million)** and **Earnings per Share ($25.11)**[9](index=9&type=chunk) [Segment Performance](index=1&type=section&id=Segment%20Performance) The Petroleum Additives segment's profit declined on lower volumes, while the Specialty Materials segment saw significant profit growth [Petroleum Additives](index=1&type=section&id=Petroleum%20Additives) Operating profit declined due to lower shipment volumes and higher technology investments | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Sales** | $653.9M | $669.8M | $1.3B | $1.3B | | **Operating Profit** | $139.8M | $147.8M | $281.9M | $298.7M | - The decline in operating profit was driven by a **decrease in shipments** and an **increase in technology investments**[4](index=4&type=chunk) - Shipment volumes **decreased by 2.5% in Q2 YoY** and **4.9% in H1 YoY**, with declines across lubricant and fuel additives[4](index=4&type=chunk)[5](index=5&type=chunk) [Specialty Materials](index=1&type=section&id=Specialty%20Materials) Operating profit surged, driven by increased volumes and the inclusion of results from the AMPAC acquisition | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Sales** | $42.0M | $38.0M | $95.8M | $55.1M | | **Operating Profit** | $10.5M | $5.0M | $33.7M | ~$0M | - The increase in operating profit was primarily driven by **increased volumes**[6](index=6&type=chunk) - H1 2024 results only reflect performance since the **acquisition of American Pacific Corporation (AMPAC)** on January 16, 2024[7](index=7&type=chunk) [Cash Flow and Capital Management](index=1&type=section&id=Cash%20Flow%20and%20Capital%20Management) Strong cash flow funded significant shareholder returns and debt reduction, improving the leverage ratio H1 2025 Cash Flow and Capital Allocation | Activity | Amount | | :--- | :--- | | **Common Stock Repurchases** | $77.2M | | **Dividends Paid** | $51.9M | | **Capital Expenditures** | $29.3M | | **Net Debt Reduction** | $122.2M | - The company's **Net Debt to EBITDA ratio improved**, decreasing to 1.0 as of June 30, 2025[8](index=8&type=chunk) [Management Commentary and Outlook](index=2&type=section&id=Management%20Commentary%20and%20Outlook) Management noted strong H1 performance and will focus on efficiency and profitability while monitoring macroeconomic uncertainties - The company is pleased with **strong H1 2025 performance** and favorable results from efficiency initiatives[10](index=10&type=chunk) - Priorities for the remainder of 2025 include investing in technology, enhancing operational efficiency, and improving portfolio profitability[10](index=10&type=chunk) - The company is actively monitoring the uncertain macroeconomic environment, particularly changes in international trade relations and tariffs[11](index=11&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) [Segment Results and Other Financial Information](index=4&type=section&id=NEWMARKET%20CORPORATION%20AND%20SUBSIDIARIES%20SEGMENT%20RESULTS%20AND%20OTHER%20FINANCIAL%20INFORMATION) This section details net sales and operating profit by segment, reconciling to consolidated pre-tax income Segment Results (in thousands) | | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | | | | | | Petroleum additives | $653,875 | $669,826 | $1,299,429 | $1,347,090 | | Specialty materials | $42,037 | $38,010 | $95,758 | $55,057 | | **Total Net Sales** | **$698,509** | **$710,228** | **$1,399,455** | **$1,406,964** | | **Segment Operating Profit** | | | | | | Petroleum additives | $139,835 | $147,819 | $281,942 | $298,728 | | Specialty materials | $10,547 | $4,972 | $33,734 | $5 | | **Total Segment Operating Profit** | **$149,211** | **$151,417** | **$314,024** | **$297,278** | [Consolidated Statements of Income](index=5&type=section&id=NEWMARKET%20CORPORATION%20AND%20SUBSIDIARIES%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME) H1 2025 net income and gross profit grew despite lower sales, alongside an increase in dividends per share Consolidated Income Statement Highlights (in thousands, except per-share amounts) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | **Net sales** | $1,399,455 | $1,406,964 | | **Gross profit** | $456,977 | $434,820 | | **Operating profit** | $303,021 | $287,752 | | **Net income** | $237,193 | $219,352 | | **Earnings per share** | $25.11 | $22.87 | | **Cash dividends per share** | $5.50 | $5.00 | [Consolidated Balance Sheets](index=

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $126 million or $13.26 per share, compared to $108 million or $11.23 per share for Q1 2024, reflecting a year-over-year increase in net income [5] - Petroleum additive sales for Q1 2025 were $646 million, down from $677 million in Q1 2024, indicating a decline in sales [5] - Operating profit for petroleum additives in Q1 2025 was $142 million, compared to a record $151 million in Q1 2024, primarily due to lower shipments [5] Business Line Data and Key Metrics Changes - Lubricant additive shipments decreased in Asia Pacific and North America, while Europe and Latin America reported slight increases [6] - Specialty Materials sales were $54 million for Q1 2025, up from $17 million in Q1 2024, with operating profit rising to $23 million from an operating loss of $5 million in the same period [8] Market Data and Key Metrics Changes - Fuel additive shipments were lower in all regions except Asia Pacific, which reported a small increase [6] - The company continues to focus on operational efficiency despite lower shipments, maintaining strong operating profit levels [6] Company Strategy and Development Direction - The company is committed to investing in technology and supply networks to meet customer demands, enhance operational efficiency, and improve portfolio profitability [8] - A capital investment of up to $100 million is planned for the Ampac facility to increase production capacity by more than 50%, aimed at meeting growing demand for solid rocket motors [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the petroleum additives business performance but acknowledged challenges from the ongoing macroeconomic environment and uncertainties around international trade relations and tariffs [7] - The company generated solid cash flows, returning $83 million to shareholders through share repurchases and dividends, with a net debt to EBITDA ratio improving to 1.1% from 1.9% year-over-year [11] Other Important Information - The projected completion date for the Ampac facility investment is 2026, which is expected to enhance capacity and security of supply [10] - The company emphasizes core principles such as a long-term perspective, safety-first culture, customer-focused solutions, and technology-driven products [11] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [12][13]