Titan America SA

Cash Flow and Capital Resources For the twelve months ended December 31, 2025, cash flow provided by operations was $295.4 million, and net capital expenditures were $163.3 million, resulting in free cash flow of $132.1 million.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

As of December 31, 2025, Titan America had $211.8 million in cash and cash equivalents and $462.4 million total debt.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Net debt was $250.7 million, representing a ratio of 0.64x 2025 Adjusted EBITDA.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

5 Financial Measures (Non-IFRS) In addition to the financial information presented in accordance with International Financial Reporting Standards ( IFRS ), this press release includes the following Non-IFRS financial measures Adjusted EBITDA, Adjusted EBITDA Margin, Net Income Margin, free cash flow, net debt and the ratio of net debt to Adjusted EBITDA.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

We define free cash flow as net cash provided by operating activities, less net payments for capital expenditures, which includes (i) investments in property, plant and equipment, (ii) investments in identifiable intangible assets and (iii) proceeds from the sale of assets, net of disposition costs.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

We define net debt as the sum of short and long-term borrowings, including accrued interest and short-term and long-term lease liabilities less cash and cash equivalents.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

This achievement reflects the strength of our business model, disciplined decision-making, skillful execution across our operations, and an unwavering focus on serving our customers.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Our investments in increased aggregates capacity, expanded capabilities, and self-help operational excellence initiatives delivered record full year revenue and Adjusted EBITDA in 2025.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Resilient pricing, and continued growth in infrastructure, private non-residential construction, including data centers, and cost containment initiatives partially mitigated the impact from the headwinds in the region.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

With continued residential softness in mind, our guidance for 2026, on a like-for-like basis, anticipates low single digit revenue growth compared to 2025, with modest expansion in our Adjusted EBITDA margins.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Zarkalis continued, Robust operating cash flows and a strong balance sheet reinforce our capacity to act on strategic opportunities including, for example, our recently announced acquisition of the Keystone Cement Company in Pennsylvania.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Our Mid-Atlantic segment was impacted by a combination of soft demand in Metro New York and New Jersey, the introduction of tariffs, and weather affecting Virginia and the Carolinas.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Resilient pricing, and continued growth in infrastructure, private non-residential construction, including data centers, and cost containment initiatives partially mitigated the impact from the headwinds in the region.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

Segment adjusted EBITDA was $120.5 million in 2025 as compared to $134.8 million in the prior year, primarily due to lower cement sales volume, increases in raw material unit costs in the ready-mix concrete product line, tariffs on imported cement and higher general and administrative expenses.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

By their nature, forward-looking statements are subject to risks, including the risks detailed in our 2024 Annual Report filed on Form 20-F on April 4, 2025, as well as the risk of a prolonged government shutdown negatively affecting infrastructure spending, uncertainties and assumptions that could cause actual results or future events to differ materially from those expressed or implied thereby.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026

These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein.

SEC original ↗Titan America SA — Earnings release (6-K exhibit)EX-99Mar 17, 2026