Core Insights - Trinseo reported a net loss of $251 million in Q4 2025, significantly impacted by restructuring charges and lower sales volumes across all business segments [1][2][3] - Full-year net sales decreased by 15% to approximately $3.0 billion, with a net loss of $546 million, reflecting ongoing market challenges and restructuring costs [1][2][3] Fourth Quarter 2025 Highlights - Adjusted EBITDA was $26 million, which included $6 million of unfavorable net timing and negative equity income from Americas Styrenics [1][2] - Net sales for Q4 were $663 million, down 19% year-over-year due to lower sales volume and competitive pricing pressure [1][3] - Cash provided by operations was $23 million, leading to a Free Cash Flow of $7 million [1][2] Full-Year 2025 Summary - Adjusted EBITDA for the year was $163 million, $41 million lower than the previous year, influenced by lower sales volumes and margins [1][2] - The company incurred pre-tax restructuring charges of $140 million and $26 million in debt refinancing costs [1][3] - Cash used in operations totaled $102 million, resulting in a Free Cash Flow of negative $153 million [1][2] Business Segment Performance - Americas Styrenics reported an Adjusted EBITDA of negative $7 million, an improvement from the previous year due to higher polystyrene volumes [1][3] - Polymer Solutions net sales decreased by 25% to $246 million, with Adjusted EBITDA of $15 million, reflecting unfavorable mix and lower volumes [1][2] - Latex Binders saw a 19% decline in net sales to $176 million, with Adjusted EBITDA dropping to $9 million due to lower volumes and margins [1][3] - Engineered Materials net sales were $240 million, down 13% year-over-year, while Adjusted EBITDA remained flat at $27 million [1][2] Strategic Focus and Outlook - The company is focused on improving its capital structure and has engaged with financial stakeholders to enhance profitability and cash flow [1][2] - Trinseo continues to invest in technology and innovation in strategic areas such as battery binders and recycled content platforms [1][2]

Fourth Quarter 2025 Financial Results March 13, 2026 1 Trademark of Trinseo PLC or its affiliates Disclosure Rules Disclosure Rules This presentation may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like "expect," "an ...

Q3 2025 Financial Performance - The company reported a net loss of $110 million and a negative EPS of $305[8] - Adjusted EBITDA was $30 million, including a $9 million unfavorable net timing impact and negative equity income from Americas Styrenics[8] - Free Cash Flow was negative $38 million due to $22 million cash used in operations and $16 million in capital expenditures[8] - Q3 net sales were $743 million, a decrease of 14% year-over-year, driven by a 7% volume decrease, a 9% price decrease, and a 2% positive impact from foreign exchange[14, 19] Segment Performance - Engineered Materials net sales were $273 million with an Adjusted EBITDA of $34 million[22] - Latex Binders net sales were $198 million with an Adjusted EBITDA of $17 million[25] - Polymer Solutions net sales were $271 million with an Adjusted EBITDA of $4 million[28] Q4 2025 Outlook - The company anticipates a net loss of $170 million to $180 million and an Adjusted EBITDA of $30 million to $40 million[7] - Free Cash Flow is projected to be approximately $20 million, with an expected available liquidity of approximately $365 million at the end of the year[7] Strategic Initiatives - The company announced the cessation of virgin MMA production operations at the Rho and Porto Marghera, Italy facilities and repurposing Rho assets for PMMA recycling activities[7] - The company announced the intention to close the polystyrene production facility in Schkopau, Germany[7] - The company saw 5% growth in strategic growth platforms and 2% volume growth in recycled content containing sales year-to-date[7] Trade Flow Changes - US PMMA imports decreased by 17% year-over-year in Q2, while exports decreased by 20%[10] - US ABS imports increased by 20% year-over-year in Q2, while exports decreased by 22%[10] - European PMMA imports increased by 3% year-over-year in Q2, while exports increased by 7%[10] - European ABS imports increased by 9% year-over-year in Q2, while exports increased by 3%[10]

Financial Performance - Q2 2025 - The company reported a net loss of $106 million and a diluted EPS of negative $2.95[7] - Adjusted EBITDA was $42 million, which included a $10 million unfavorable net timing impact, and was $25 million lower than the previous year due to lower volumes and reduced equity income from Americas Styrenics[8] - Cash provided by operations was $7 million, and capital expenditures were $10 million, resulting in a negative Free Cash Flow of $3 million[10] Sales and Volume Analysis - Q2 2025 - Net sales were $784 million[15, 20] - Sales volume decreased year-over-year by 11% in Europe, 9% in the U S, 17% in Asia-Pacific, and 9% in the Rest of World[15] - Engineered Materials net sales were $293 million, down from $324 million in Q2 2024[23] - Latex Binders net sales were $204 million, a decrease from $252 million in Q2 2024[26] - Polymer Solutions net sales were $287 million, compared to $344 million in Q2 2024[29] Full Year 2025 Outlook - The company anticipates a net loss of approximately $320 million and an Adjusted EBITDA of approximately $200 million[11, 44] - Free Cash Flow is projected to be approximately negative $165 million[11, 44] Sustainability Initiatives - The company achieved five key sustainability goals, including increasing the share of electricity from non-fossil sources from 5% to 30% and reducing Scope 1 & 2 GHG Emissions intensity by 35%[11, 13] - The share of electricity coming from renewable sources increased to 22%, a 4% increase compared to 2023[13] Debt and Liquidity - The company had $139 million in cash at the end of the second quarter, with $2 million restricted, and total liquidity of $399 million[10]