Ingevity Corp

There were no share repurchases for the quarter and $353.4 million remains available under the current $500 million Board authorization.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

We have excluded the following items from segment EBITDA interest expense associated with corporate debt facilities, interest income, income taxes, depreciation, amortization, restructuring and other income (charges), net, inventory lower of cost or market charges associated with restructuring actions, goodwill impairment charges, acquisition and other-related income (costs), litigation verdict charges, gain (loss) on strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, and pension and postretirement settlement and curtailment income (charges), net.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Ingevity uses the following non-GAAP measures Adjusted earnings (loss) is defined as net income (loss) plus restructuring and other (income) charges, net, goodwill impairment charges, acquisition and other-related (income) costs, pension and postretirement settlement and curtailment (income) charges, loss on CTO resales, CTO supply contract termination charges, (gain) loss on strategic investments, debt refinancing fees, litigation verdict charges, proxy contest charges, and the income tax expense (benefit) on those items, less the provision (benefit) from certain discrete tax items.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Free Cash Flow is defined as the sum of net cash provided by (used in) the following items operating activities less capital expenditures.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Net Debt is defined as the sum of notes payable, short-term debt, current maturities of long-term debt and long-term debt including finance lease obligations less the sum of cash and cash equivalents, restricted cash associated with our new market tax credit financing arrangement, and restricted investment associated with certain finance lease obligations, excluding the allowance for credit losses on held-to-maturity debt securities held within the restricted investment.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Net Debt Ratio is defined as Net Debt divided by the last twelve months Adjusted EBITDA, inclusive of acquisition-related pro forma adjustments.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

We are also advancing our portfolio evaluation with a focus on retaining and investing in businesses that leverage our core competencies and also allow us to continue driving sustainable growth and delivering best-in-class EBITDA margins.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

We have excluded the following items from segment EBITDA interest expense associated with corporate debt facilities, interest income, income taxes, depreciation, amortization, restructuring and other income (charges), net, inventory lower of cost or market charges associated with restructuring actions, goodwill impairment charges, acquisition and other-related income (costs), litigation verdict charges, gain (loss) on strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, and pension and postretirement settlement and curtailment income (charges), net.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Three Months Ended June 30, Six Months Ended June 30, In millions 2025 2024 2025 2024 Performance Materials $ $ (0.1) $ $ (0.1) Performance Chemicals 4.8 Advanced Polymer Technologies 2.5 2.5 (Gain) loss on strategic investments $ 2.5 $ (0.1) $ 2.5 $ 4.7 (9) Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Ingevity uses the following non-GAAP measures Adjusted earnings (loss) is defined as net income (loss) plus restructuring and other (income) charges, net, goodwill impairment charges, acquisition and other-related (income) costs, pension and postretirement settlement and curtailment (income) charges, loss on CTO resales, CTO supply contract termination charges, (gain) loss on strategic investments, debt refinancing fees, litigation verdict charges, proxy contest charges, and the income tax expense (benefit) on those items, less the provision (benefit) from certain discrete tax items.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Adjusted EBITDA is defined as net income (loss) plus interest expense, net, provision (benefit) for income taxes, depreciation, amortization, restructuring and other (income) charges, net, goodwill impairment charges, acquisition and other-related (income) costs, litigation verdict charges, (gain) loss on strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, and pension and postretirement settlement and curtailment (income) charges, net.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

This impairment was recorded as a result of an impact assessment of heightened global trade uncertainty due to tariff announcements during the quarter, which prompted reevaluation of prior assumptions regarding the pace and strength of industrial demand recovery in key markets.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Performance Materials Performance Materials sales were down 2% to $153.9 million as higher sales in North America partially offset lower sales in Asia and Europe, attributable primarily to tariff uncertainty.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Advanced Polymer Technologies Sales in Advanced Polymer Technologies were down $4.6 million, or 10%, to $43.3 million primarily as a result of softening customer demand, which intensified late in the quarter due to indirect impacts from tariffs, particularly in Europe.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Segment EBITDA decreased from $9.8 million to $0.9 million largely due to the planned extended outage in Q2 to install new boilers noted last quarter, and lower volumes attributed to slow industrial demand and tariff-related pressures.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

We have excluded the following items from segment EBITDA interest expense associated with corporate debt facilities, interest income, income taxes, depreciation, amortization, restructuring and other income (charges), net, inventory lower of cost or market charges associated with restructuring actions, goodwill impairment charges, acquisition and other-related income (costs), litigation verdict charges, gain (loss) on strategic investments, loss on CTO resales, CTO supply contract termination charges, proxy contest charges, and pension and postretirement settlement and curtailment income (charges), net.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025

Ingevity uses the following non-GAAP measures Adjusted earnings (loss) is defined as net income (loss) plus restructuring and other (income) charges, net, goodwill impairment charges, acquisition and other-related (income) costs, pension and postretirement settlement and curtailment (income) charges, loss on CTO resales, CTO supply contract termination charges, (gain) loss on strategic investments, debt refinancing fees, litigation verdict charges, proxy contest charges, and the income tax expense (benefit) on those items, less the provision (benefit) from certain discrete tax items.

SEC original ↗Ingevity Corp — Earnings release (8-K exhibit)EX-99Aug 4, 2025