Financial Presentation Materials March 4, 2026 Safe Harbor Forward-Looking Statements Fourth Quarter & Full Year 2025 Certain statements in this document regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to future events, developments or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Refor ...

Core Insights - Rayonier Advanced Materials Inc. (RYAM) operates in the high-purity cellulose sector within the Zacks Paper and Related Products industry, facing competition that affects its financial performance [1] Financial Performance - RYAM reported an EPS of -$0.31 for the quarter ending March 3, 2026, which was significantly below the estimated -$0.08, resulting in a negative surprise of 211.11% [2][6] - The company's revenue for the quarter was $417 million, exceeding the Zacks Consensus Estimate of $365.5 million by 14.09%, although it represented a slight year-over-year decline of 1.2% from $422 million [3][6] Financial Ratios - RYAM's price-to-sales ratio is 0.43, indicating that investors are paying $0.43 for every dollar of sales, which is relatively low [4] - The debt-to-equity ratio stands at 0.80, suggesting a moderate level of debt, while the current ratio of 3.57 indicates strong liquidity, allowing RYAM to cover its short-term liabilities [4] - The company has a negative earnings yield of -66.90% and a negative price-to-earnings ratio, reflecting ongoing losses, along with a significantly negative enterprise value to operating cash flow ratio, highlighting challenges in generating cash flow from operations [5][6]

Core Insights - Rayonier Advanced Materials reported $417 million in revenue for Q4 2025, a year-over-year decline of 1.2% and an EPS of -$0.28 compared to -$0.10 a year ago, indicating a significant drop in profitability [1] - The revenue exceeded the Zacks Consensus Estimate of $365.5 million by 14.09%, while the EPS fell short of the consensus estimate of -$0.09 by 211.11% [1] Revenue Performance - High-Yield Pulp revenue was $28 million, surpassing the estimated $21 million [4] - Paperboard revenue reached $44 million, slightly above the estimated $42.5 million [4] - Cellulose Commodities generated $94 million, exceeding the $72.2 million estimate [4] - Cellulose Specialties revenue was $249 million, higher than the estimated $228.75 million [4] - Biomaterials revenue was $10 million, above the estimated $8.05 million [4] - Eliminations resulted in a loss of $-8 million, compared to the estimated $-7 million [4] EBITDA Analysis - EBITDA from continuing operations for Cellulose Specialties was $70 million, slightly above the $69.5 million estimate [4] - Cellulose Commodities reported an EBITDA of $-7 million, worse than the estimated $-6 million [4] - Corporate operations had an EBITDA of $-18 million, compared to the estimated $-14 million [4] - Paperboard operations generated an EBITDA of $4 million, exceeding the $3 million estimate [4] - High-Yield Pulp operations reported an EBITDA of $-5 million, in line with the estimate [4] - Biomaterials had an EBITDA of $-1 million, below the estimated $3 million [4] Stock Performance - Rayonier Advanced Materials shares returned +21% over the past month, contrasting with the Zacks S&P 500 composite's -1.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

分组1 - Rayonier Advanced Materials reported a quarterly loss of $0.28 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.09, representing an earnings surprise of -211.11% [1] - The company posted revenues of $417 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 14.09%, although this is a decrease from $422 million in the same quarter last year [2] - Rayonier Advanced Materials shares have increased by approximately 62.3% since the beginning of the year, outperforming the S&P 500's gain of 0.5% [3] 分组2 - The earnings outlook for Rayonier Advanced Materials is mixed, with the current consensus EPS estimate for the coming quarter at -$0.04 on revenues of $355.5 million, and $0.36 on revenues of $1.49 billion for the current fiscal year [7] - The Zacks Industry Rank indicates that the Paper and Related Products industry is currently in the bottom 31% of over 250 Zacks industries, which may negatively impact stock performance [8]

Financial Performance - The company reported full-year revenue of $1.5 billion for 2025, with an Adjusted EBITDA of $133 million and negative Adjusted Free Cash Flow of $88 million[3]. - Fourth quarter net sales were $417 million, a decrease of $5 million compared to the prior year quarter[5]. - The loss from continuing operations for the fourth quarter was $21 million, or $(0.32) per diluted share, compared to a loss of $16 million, or $(0.25) per diluted share, in the same quarter of 2024[6]. - The company aims to deliver positive free cash flow in 2026 and improve year-over-year EBITDA across all business segments[4]. - The net loss attributable to Rayonier Advanced Materials Inc. for the year ended December 31, 2025, was $420 million, compared to a net loss of $39 million in 2024[33]. - Cash provided by operating activities for the year ended December 31, 2025, was $24 million, significantly lower than $203 million in 2024[37]. - Gross margin for the year ended December 31, 2025, was $119 million, down from $166 million in 2024, indicating a decline in profitability[33]. - For the year ended December 31, 2025, the total income from continuing operations attributable to RYAM was $161 million, a decrease of 17% compared to $184 million for the year ended December 31, 2024[42]. - Adjusted EBITDA for the three months ended December 31, 2025, was $70 million, down from $66 million in the previous quarter, indicating a decrease of approximately 6%[41]. - The EBITDA attributable to RYAM for the year ended December 31, 2025, was $130 million, down from $170 million in the previous year, reflecting a decrease of approximately 24%[42]. Segment Performance - In the Cellulose Specialties segment, net sales increased by $6 million, or 2 percent, driven by a 7 percent increase in average sales price[8]. - Biomaterials segment net sales rose by $2 million, or 25 percent, primarily due to higher lignosulfonates and bioethanol sales[10]. - Cellulose Commodities segment net sales increased by $6 million, or 7 percent, attributed to a 2 percent rise in both average sales price and sales volumes[12]. - Paperboard segment net sales decreased by $16 million, or 27 percent, with average sales price and sales volumes down 9 percent and 19 percent, respectively[14]. Liquidity and Debt - The company ended the fourth quarter with $157 million of global liquidity, including $75 million in cash[20]. - Long-term debt increased to $758 million as of December 31, 2025, compared to $706 million in 2024, indicating rising leverage[35]. - Total debt increased to $779 million in 2025 from $730 million in 2024, representing a growth of approximately 6.7%[46]. - Adjusted Net Debt rose to $745 million in 2025, up from $653 million in 2024, indicating an increase of about 14.1%[46]. - Net Secured Debt increased to $715 million in 2025, compared to $625 million in 2024, reflecting a growth of approximately 14.4%[46]. - Cash and cash equivalents improved to $(75) million in 2025 from $(125) million in 2024, showing a reduction in negative cash position by 40%[46]. - Debt due within one year decreased to $21 million in 2025 from $24 million in 2024, a decline of approximately 12.5%[46]. Expenses and Charges - Interest expense for the year ended December 31, 2025, was $96 million, up from $84 million in the previous year, representing a 14% increase[42]. - The company reported a pension settlement loss of $2 million for the year ended December 31, 2025[42]. - Indefinite suspension charges amounted to $1 million for the year ended December 31, 2025[42]. - The total income tax expense for the year ended December 31, 2025, was $323 million, compared to an income tax benefit of $9 million for the year ended December 31, 2024[42]. Regulatory and Future Considerations - The company may require additional financing in the future to meet capital needs or make acquisitions, which may not be available on favorable terms[27]. - Regulatory and environmental risks may materially affect the company's business operations and financial results due to extensive laws and regulations[27].

Core Insights - Gabelli Funds will host its 17th Annual Specialty Chemicals Symposium on March 19, 2026, in Midtown Manhattan, focusing on industry dynamics, current trends, and business fundamentals in the specialty chemicals sector [1][2]. Group 1: Event Details - The symposium will feature discussions with leading companies and organizations within the specialty chemicals ecosystem [1]. - Attendees will have the opportunity for one-on-one meetings with management teams, and a webcast option will be available for those unable to attend in person [2]. Group 2: Presenting Companies - The symposium will include presentations from notable companies such as Arq, Inc., Ashland Global, BASF SE, and The Chemours Company, among others [3]. - A total of 12 companies are listed as presenters, with some indicating virtual attendance options [3][4].

Earnings Release Schedule - Rayonier Advanced Materials (RYAM) plans to release its fourth quarter 2025 earnings on March 3, 2026, after market close [1] - A conference call and live webcast will be held on March 4, 2026, at 9:00 a.m. ET to discuss the results [1] - Investors can access the conference call via specific dial-in numbers and will have access to a replay shortly after the call [1] Company Overview - RYAM is a global leader in cellulose and derivatives used in various applications including filters, food, pharmaceuticals, and high-performance plastics [1] - The company generated $1.6 billion in revenue in 2024 [1] - RYAM operates manufacturing facilities in the U.S., Canada, and France, producing a range of cellulose products and value-added derivatives [1] Executive Changes - Scott M. Sutton has been appointed as the new CEO and President of RYAM, effective January 5, 2026 [1] - De Lyle W. Bloomquist, the current CEO, plans to retire by the time of the 2026 Annual Meeting of Stockholders, expected in May 2026 [1]

Core Viewpoint - Rayonier Advanced Materials Inc. (RYAM) shares experienced a significant increase of 21.93 percent following the announcement of Scott Sutton as the new Chief Executive Officer and President, effective January 5 [1]. Group 1: Stock Performance - The stock opened at $6.12, up from a previous close of $5.86, and traded within a range of $6.08 to $7.14 during the session [2]. - Rayonier Advanced Materials shares were last trading at $7.05, with a trading volume of approximately 1.34 million shares, which is more than double its average daily volume of around 583,370 shares [3]. Group 2: Leadership Change - Scott Sutton will succeed DeLyle Bloomquist, who is retiring but will remain as an advisor to ensure leadership continuity and support ongoing strategic initiatives [1]. - Sutton brings over 30 years of industry experience to the role, having previously served as Chief Executive Officer and President of Olin Corp [3]. Group 3: Historical Stock Data - Rayonier Advanced Materials shares have fluctuated within a 52-week range of $3.35 to $8.56 [3].

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 500 points on Monday [1] Company Highlights - Altimmune Inc (NASDAQ:ALT) saw a significant increase of 23.6%, reaching $4.34, following the FDA's grant of Breakthrough Therapy Designation for Pemvidutide in MASH [1] - GH Research PLC (NASDAQ:GHRS) surged by 33.8% to $17.72 after the FDA lifted the clinical hold on its Investigational New Drug Application for GH001 [2] - Vicor Corp (NASDAQ:VICR) rose by 20.7% to $141.08 [2] - Critical Metals Corp (NASDAQ:CRML) increased by 19.6% to $9.71 [2] - Kosmos Energy Ltd (NYSE:KOS) gained 19.3% to $1.06 after issuing an operational and financial update [2] - TRON Inc (NASDAQ:TRON) increased by 16.9% to $1.59 [2] - Nuscale Power Corp (NYSE:SMR) rose by 15.7% to $18.88 [2] - Regencell Bioscience Holdings Ltd (NASDAQ:RGC) increased by 15.4% to $23.71 [2] - Rayonier Advanced Materials Inc (NYSE:RYAM) gained 14.1% to $6.68, with the appointment of Scott M. Sutton as President and CEO [2] - Aduro Clean Technologies Inc (NASDAQ:ADUR) rose by 14% to $12.05 [2] - Gyre Therapeutics Inc (NASDAQ:GYRE) increased by 12.7% to $7.67, announcing alignment with China's CDE on conditional approval pathway for hydronidone [2] - Endeavour Silver Corp (NYSE:EXK) gained 12.5% to $10.16 [2] - Allegro MicroSystems Inc (NASDAQ:ALGM) surged by 11.9% to $30.12 [2] - United States Antimony Corp (NYSE:UAMY) rose by 11.7% to $6.69 [2] - Oklo Inc (NYSE:OKLO) gained 11.5% to $86.82 [2] - Figure Technology Solutions Inc (NASDAQ:FIGR) increased by 11.3% to $48.66 [2] - Valero Energy Corp (NYSE:VLO) rose by 9.6% to $181.21 [2] - AeroVironment, Inc. (NASDAQ:AVAV) increased by 8.6% to $278.31 [2] - Coeur Mining Inc (NYSE:CDE) gained 8.5% to $19.05 [2] - Halliburton Co (NYSE:HAL) rose by 7.8% to $31.92, with U.S. energy stocks trading higher amid news of potential investments in Venezuela's oil industry [2] - Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) gained 7.7% to $85.39 [2] - Slb NV (NYSE:SLB) increased by 7.4% to $43.19 [2] - Amkor Technology Inc (NASDAQ:AMKR) rose by 7.3% to $46.05, with Needham analyst Charles Shi maintaining a Buy rating and raising the price target from $37 to $50 [2]

Core Viewpoint - Rayonier Advanced Materials Inc. has appointed Scott M. Sutton as the new CEO and President, effective January 5, 2026, succeeding DeLyle W. Bloomquist, who will assist during the transition [1][3]. Leadership Transition - Scott M. Sutton, with over 30 years of experience in the chemicals and materials sectors, previously served as President and CEO of Olin Corporation, where he improved the company's financial position and competitive standing [2][3]. - Lisa M. Palumbo, Non-Executive Chair of the Board, emphasized Sutton's strategic mindset and commitment to safety and sustainability, indicating he is well-suited to advance RYAM's biomaterials strategy [3]. Performance Share Unit Award - Upon starting his role, Sutton will receive a performance share unit (PSU) award as an inducement, consisting of 750,000 PSUs with a three-year performance period and a one-year post-vesting holding requirement [4]. - The vesting of PSUs will depend on RYAM's stock performance, with thresholds set at $15, a target at $30, and a maximum at $45, with vesting determined on a straight-line basis [4]. Company Overview - Rayonier Advanced Materials Inc. is a global leader in cellulose-based technologies, producing cellulose specialties used in various applications, including filters, food, and pharmaceuticals [5]. - The company generated $1.6 billion in revenue in 2024 and operates manufacturing facilities in the U.S., Canada, and France [5].