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Minerals Technologies Inc. — Presentation (company IR deck)
Minerals Technologies Inc. (MTX) · 36 slides · Filed Oct 23, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All MTX deck slides
Slide 1 — Innovation Day
© 2024 Minerals Technologies Inc. All Rights Reserved. Innovation Day September 24, 2024
Slide 2 — Forward Looking Statements and Non-GAAP Measures
2 Forward Looking Statements and Non-GAAP Measures This presentation may contain "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations and forecasts of future events such as new products, revenues and financial performance, and are not limited to describing historical or current facts. They can be identified by the use of words such as “believes,” “expects,” “plans,” “intends,” “anticipates,” and other words and phrases of similar meaning. Forward-looking statements are necessarily based on assumptions, estimates and limited information available at the time they are made. A broad variety of risks and uncertainties, both known and unknown, as well as the inaccuracy of assumptions and estimates, can affect the realization of the expectations or forecasts in these statements. Actual future results may vary materially. Significant factors that could affect the expectations and forecasts include worldwide general economic, business, and industry conditions; the cyclicality of our customers’ businesses and their changing regional demands; our ability to compete in very competitive industries; consolidation in customer industries, principally paper, foundry and steel; our ability to renew or extend long term sales contracts for our satellite operations; our ability to generate cash to service our debt; our ability to comply with the covenants in the agreements governing our debt; our ability to effectively achieve and implement our growth initiatives or consummate the transactions described in the statements; our ability to successfully develop new products; our ability to defend our intellectual property; the increased risks of doing business abroad; the availability of raw materials and access to ore reserves at our mining operations, or increases in costs of raw materials, energy, or shipping; compliance with or changes to regulation in the areas of environmental, health and safety, and tax; risks and uncertainties related to the voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code filed by our subsidiaries BMI OldCo Inc. (f/k/a Barretts Minerals Inc.) and Barretts Ventures Texas LLC; claims for legal, environmental and tax matters or product stewardship issues; operating risks and capacity limitations affecting our production facilities; seasonality of some of our businesses; cybersecurity and other threats relating to our information technology systems; and other risk factors and cautionary statements in our 2023 Annual Report on Form 10‐K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward‐looking statement, whether as a result of new information, future events, or otherwise. Also, this presentation will include certain financial measures that were not prepared in accordance with generally accepted accounting principles. In particular operating income, operating margin, adjusted EBITDA, adjusted EBITDA margin, and EPS referenced in this presentation exclude special items, such as acquisition-related costs, restructuring, gains/(losses) on asset sales, litigation and impairment costs, and other significant non-recurring or unusual items and related tax effects for all periods presented. The company also provides figures for free cash flow, underlying sales and sales growth excluding sales from BMI OldCo Inc. for the three and six months ended June 30, 2024. These are non-GAAP measures that the Company believes provide meaningful supplemental information regarding its performance as inclusion of such special items are not indicative of the ongoing operating results and thereby affect the comparability of results between periods. The company believes inclusion of these non-GAAP measures also provides consistency in its financial reporting and facilitates investors' understanding of historic operating trends. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in our Current Report on Form 8-K dated July 25, 2024, and in our other reports filed with the Securities and Exchange Commission, available on our website at www.mineralstech.com in the "Investor Information -- SEC Filings" section. It is not possible, without unreasonable effort, for the company to identify and estimate the amount or significance of future non-recurring or unusual items. Accordingly, the company does not provide reconciliations of forward-looking non-GAAP financial measures to the most comparable GAAP financial measures on a forward-looking basis.
Slide 3 — Agenda
Agenda ➢Welcome and introduction ➢Technology capabilities overview ➢Bentonite properties overview ➢Lab tour ➢Innovation in support of our growth ➢Q&A
Slide 4 — Welcome to Hoffman Estates Research Center
Welcome to Hoffman Estates Research Center • North American center for global bentonite-based research and development • Core technologies: Functional Additives, Particle Surface Modification and Engineered Blends • Supports for Household & Personal Care, High- Temperature Technologies and Environmental & Infrastructure product lines • Collaborates closely with other global R&D locations • Intimate technical service, e.g.: • Foundry analytical services, • Water treatment feasibility studies, • Modeling of geosynthetic clay and specialty liner system performance against customer specific leachates
Slide 5 — A Global Specialty Minerals Company
5 MINERALS TECHNOLOGIES A Global Specialty Minerals Company ~4,000 Employees $2.2B Net Sales 32 Countries 12 R&D Centers ▪Technology-driven provider of specialty solutions and applications that are an essential part of your everyday life ▪Global footprint aligned with our customers and growth opportunities ▪Vertically integrated with unique mineral reserves 57% 16% 24% 3% 2023 Sales by Region North America Asia EMEA Latin America
Slide 6 — Mineral reserves and R&D centers in all strategic regions
6 Mineral reserves and R&D centers in all strategic regions R&D Centers Mineral Reserves 12 Global R&D Centers Located in all key regions close to customers Global reserve positions to support local markets Long-term proven reserves Unlocking mineral properties through technological expertise to deliver the highest value to our global customers
Slide 7 — A Well-Balanced and Well-Positioned Growth Portfolio
7 A Well-Balanced and Well-Positioned Growth Portfolio CONSUMER & SPECIALTIES ENGINEERED SOLUTIONS Mineral-to-market products serving consumer-oriented end markets, including cat litter, household and personal care, natural oil purification, animal health and agriculture Mineral additives serving food & pharma, paper and consumer packaging, residential construction markets Value-added solutions and technologies for high-temperature industries, such as steel, foundry and others Project based products and solutions for environmental, remediation, water treatment, building materials and infrastructure * 2023 Sales. Total company sales $2.2B Functional components in a variety of consumer and industrial goods Designed to improve our customers’ manufacturing processes and projects High-Temperature Technologies 33% Environmental & Infrastructure 13% 24% Household & Personal Care 30% Specialty Additives $1.2B $1.0B
Slide 8 — Leading positions and growth supported by strong foundation
8 Leading positions and growth supported by strong foundation Sustainable leadership positions in all key markets #1 Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Culture of Operational Excellence Long-term sustainable growth
Slide 9 — Leading positions and growth supported by strong foundation
9 Leading positions and growth supported by strong foundation Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Culture of Operational Excellence
Slide 10 — applications
10 Unique global mineral reserves for consumer and industrial applications • Largest global reserves of sodium and calcium bentonite • Applications range from consumer to industrial Bentonite • Unique high-quality reserves in North America • Chemistry purity suitable for food and pharma applications as well as industrial applications Calcium Carbonate • Specialty applications where the mineral offers high value, e.g., leonardite, magnesium oxide Other Specialty Minerals
Slide 11 — Leading positions and growth supported by strong foundation
11 Leading positions and growth supported by strong foundation Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Culture of Operational Excellence
Slide 12 — Core technologies aligned with four product lines
12 Core technologies aligned with four product lines Use of unique minerals and additives to deliver functionality to our products and our customers’ products Household & Personal Care Functional Additives Specialty Additives Proprietary process to synthesize crystal type, size, and morphology to achieve specific functionality Crystal Engineering High-Temperature Technologies Environmental & Infrastructure Development of tailored blends of specific minerals and additives to enhance customer processes and product performance Modification of the outer layer of our minerals through chemistry Engineered Blends Particle Surface Modification
Slide 13 — Leading positions and growth supported by strong foundation
13 Leading positions and growth supported by strong foundation Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Culture of Operational Excellence
Slide 14 — and solutions
14 Ad/absorption Odor elimination Utilizing application expertise to develop sustainable products and solutions Environmental & Infrastructure High-Temperature Technologies Household & Personal Care Specialty Additives ✓ Pet and animal health ✓ Natural personal care solutions ✓ Renewable fuels purification ✓ Recycling solutions for paper and packaging ✓ Energy savings through mineral applications for packaging ✓ Bioplastics ✓ Emission reduction ✓ Automation and data analytics ✓ Wastewater and drinking water remediation ✓ Drilling solutions for geothermal/ sustainable energy ✓ Hardening of grid Products and Solutions Aligned With Key Trends 64% of new products have sustainable profile Beneficial Attributes and Functionalities Secular & Sustainable Trends Natural ingredients & solutions Clean energy Human health & safety Pollution prevention Waste reduction Energy efficiency Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification Lightweighting Strengthening CO2 sequestration Calcium fortification Energy savings Recyclability Productivity improvement Rheology modification Water and Fluid filtration
Slide 15 — Leading positions and growth supported by strong foundation
15 Leading positions and growth supported by strong foundation Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Culture of Operational Excellence
Slide 16 — MTI New Product
16 Innovation focused on serving unique customer needs Direct customer interactions and round-tables Deep understanding of macro trends within end- markets ideas per year commercialized products per year 200–300 ~50 MTI New Product Development + Intimate knowledge of customer processes + World renowned applications expertise + World class analytics creating the foundation for data-driven innovation + A century of know-how to tailor products to customers’ unique needs MTI specific customer touch points * % of sales from commercialization in last 5 years
Slide 17 — Culture of continuous improvement applied to innovation process
17 Culture of continuous improvement applied to innovation process 16 months 2023 MTI’s internal sustainability goals Customer’s sustainability goals 40% of total sales 64% of total sales 0 100 200 300 400 500 600 2014 2015 2023 Accelerating speed of development Innovative sustainable solutions and products at the core of our technologies 40 months 2016 1 2 3 4 5 6 STAGE IDEA GENERATION 1 month GATE Preliminary Screen DISCOVERY 1 month GATE In-Depth Screen PLANNING & PROTOTYPING 2 months GATE Final Idea Screen PILOT TESTING 3 months GATE Product Feasibility Check SCALE UP 4 months GATE Pre-Commercialization Check COMMERCIALIZATION New Product Development Process Number of Projects by NPPD Stage 2 3 4 5 6 Number of projects commercialized in last 5 years
Slide 18 — ..enabling accelerated long-term growth
18 ..enabling accelerated long-term growth 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 2016 2019 2023 Revenue as % of Sales from New Products* * % of sales from products commercialized in last 5 years ** 2016-2023 12% 18% ▪ 300 new products developed and commercialized within last 5 years ▪ Pipeline value from ideation to commercialization >$1B potential revenue ▪ 17% Revenue CAGR** from new products ▪ 2%+ annual incremental revenue growth at higher margins 8%
Slide 19 — Focus of today: ~50% of total revenue
19 Focus of today: ~50% of total revenue CONSUMER & SPECIALTIES Technology and Application Know-How Differentiated Global Mineral Reserves Bentonite Calcium Carbonate Other Specialty Minerals Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification Household & Personal Care Specialty Additives • Pet Care • Oil Purification • Personal Care • Animal Health • Fabric Care • Agriculture • Paper • Packaging • Sealants & Adhesives • Food & Pharmaceuticals • Building Products High-Temperature Technologies Environmental & Infrastructure • Foundry • Monolithic Refractory • Laser Measurement Systems • Calcium Wire • Water & Remediation • Drilling Products • Building Materials • Environmental Lining Systems ENGINEERED SOLUTIONS
Slide 20 — Bentonite: A sorptive mineral that is versatile in applications
20 Bentonite: A sorptive mineral that is versatile in applications ▪ Weathered volcanic ash ▪ Two classes - Sodium bentonite - Calcium bentonite ▪ Significant characteristics & benefits - Montmorillonite platelet structure with negative charge counterbalanced by positive cations - Significantly expands in volume in contact with water - Highly absorbent material ▪ Why important - Substantial surface area and active sites on platelets enable reactions, including ion exchange, polymer modification and adsorption - Excellent rheology properties and can form impermeable barriers - Ability to exchange cations for hydrophilic and hydrophobic applications - Environmentally friendly ▪ Available throughout the world with best quality bentonite found in Western US TEM Images Applications
Slide 21 — Core technologies applied to unlock the most value
21 E n g i n e e r e d B l e n d s F u n c ti o n a l A d d it i v e s Gr ee ns an d bo nd s An ti- ca ki ng fl o w ag en ts C e m e nt & co nc re te a d di ti ve s G e ot h er m al a n d w at er w el l gr o ut s S u b st a n c e re m e di at io n W as te & w at er w ay pr ot ec ti o n W at er & va po r pr ot ec ti on Dr illi ng flu id s an d ad dit iv es Ad so rp tio n so lu tio ns fo r hu ma n & an im al ne ed s Fi lt er in g an d cl ar if yi ng ag en ts P ai nt & co at in g rh eo lo gy a d di ti ve s T o xi n re m o v al P a r ti c l e S u r f a c e M o d if i c a ti o n Bentonite Core technologies applied to unlock the most value Bentonite ▪Platelet structure with inherent negative charge counterbalanced by positive metallic cations ▪Has very high surface area per unit mass with significant ion-exchange capacity ▪Absorbs very large amounts of water, holds it strongly ▪Swells in contact with water/creates swelling pressure ▪Creates stable colloid and rheology/viscosity at low concentrations in water ▪Forms low permeability filter cakes at higher concentrations ▪Can be chemically modified with polymers, surfactants and monomers
Slide 22 — Lab tour agenda
22 Lab tour agenda Bentonite properties Research and development capabilities Functional Additives technology applications Pet Care | Animal Health | Oil Purification | Personal Care | Fabric Care Particle Surface Modification Wastewater Remediation | Environmental Remediation Engineered Blends Foundry Functional Additives Engineered Blends Particle Surface Modification
Slide 23 — Innovation Day
© 2024 Minerals Technologies Inc. All Rights Reserved. Innovation Day Post Lab Tour Presentation
Slide 24 — Focus of today: bentonite-based products and solutions
24 Focus of today: bentonite-based products and solutions CONSUMER & SPECIALTIES Technology and Application Know-How Differentiated Global Mineral Reserves Bentonite Calcium Carbonate Other Specialty Minerals Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification Household & Personal Care Specialty Additives • Pet Care • Oil Purification • Personal Care • Animal Health • Fabric Care • Agriculture • Paper • Packaging • Sealants & Adhesives • Food & Pharmaceuticals • Building Products High-Temperature Technologies Environmental & Infrastructure • Foundry • Monolithic Refractory • Laser Measurement Systems • Calcium Wire • Water & Remediation • Drilling Products • Building Materials • Environmental Lining Systems ENGINEERED SOLUTIONS
Slide 25 — 5-7%
25 Consumer & Specialties Segment – DJ Monagle, Group President CONSUMER & SPECIALTIES Technology and Application Know-How Differentiated Global Mineral Reserves Bentonite Calcium Carbonate Other Specialty Minerals Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification Household & Personal Care Specialty Additives • Pet Care • Oil Purification • Personal Care • Animal Health • Fabric Care • Agriculture • Paper • Packaging • Sealants & Adhesives • Food & Pharmaceuticals • Building Products 5-7% CONSUMER & SPECIALTIES CAGR* * long-term growth potential
Slide 26 — Pet Care
26 Market Dynamics • Expanding middle class, Millennial & Gen Z owners driving growth in pet ownership • Private label outpacing general market growth • Consumers value functionality and options MTI Position • Sivo global brand - the preferred partner for pet litter: - Private Label: the largest global private label cat litter producer - Brands: key raw material, packaging solutions • Strategically placed manufacturing and mining footprint Innovation Core technologies enable tailored innovative solutions: • Practical needs: easy cleanup/no mess; odor control; sustainable packaging • Emotional needs: natural solutions; health & hygiene * 1.4 million short tons, 2.8 billion lbs Source: Nielsen, Dsm-Firmenich, MTI estimates Household & Personal Care Pet Care North America cat litter Market size 20% Private label $3B Total Branded 20% Branded Europe cat litter $3B Total Private label Market size $1B Total China cat litter Market size 56+ countries we ship to 519 different items we package 2.8 billion pounds of cat litter produced per year* 248+ global customers 88 million packages shipped in 2023 25% CAGR for sales from 2021 to 2023 Private label Long-term growth in North America 5% CAGR Long-term growth in China 7% CAGR Long-term growth in Europe 5% CAGR
Slide 27 — Consumer Specialties
27 Global Bleaching Earth Market Edible Oil Renewable fuels Other $900M Long-term bleaching earth market growth 5% CAGR $1B Market Long-term Renewable Fuels market growth 23% CAGR Ethanol Biodiesel Sustainable Aviation Fuel Renewable diesel Household & Personal Care Consumer Specialties Market Dynamics • Essential non-cyclical trends including natural products and solutions, edible oils, renewable fuels, animal nutrition, anti-aging solutions, dry laundry detergent adoption in emerging markets • GDP+/GDP++ market growth MTI Positions Differentiated strategic ingredients with tailored solutions • Topical delivery systems: • #1 North America retinol delivery system • High-performance oil purification: • Edible oil and renewable fuels • Diverse capability for fabric care • High-performance animal feed additive Innovation • Natural delivery systems for personal care • Robust solutions for challenging feedstock, processing efficiencies and evolving regulatory requirements in oil purification • Agglomeration solutions for hard to formulate ingredients Source: MTI estimates, Wood MacKenzie, OECD-FOA, IEA Global Retinol Beauty Products Market Current market size Long-term market growth 6% CAGR Renewable Fuels MTI addressable market
Slide 28 — 3-6%
28 Engineered Solutions Segment – Brett Argirakis, Group President Technology and Application Know-How Differentiated Global Mineral Reserves Bentonite Calcium Carbonate Other Specialty Minerals Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification Household & Personal Care Specialty Additives High-Temperature Technologies Environmental & Infrastructure • Foundry • Monolithic Refractory • Laser Measurement Systems • Calcium Wire • Water & Remediation • Drilling Products • Building Materials • Environmental Lining Systems ENGINEERED SOLUTIONS ENGINEERED SOLUTIONS 3-6% CAGR* * long-term growth potential
Slide 29 — Foundry
29 90% 10% US 25% 75% China 15% 85% India Pre-Blended Products 90% Penetration $700M of additional pre-blended demand High-Temperature Technologies Foundry Market Dynamics • Well-established North American Green Sand Bonds market • Asia foundry market becoming more technically sophisticated • Need for sustainable solutions, advanced technical capabilities MTI position • Worlds largest supplier of custom blend green sand bonds • Go-to for foundry sand system laboratory analysis, process expertise and problem solving • Fully integrated, unique, global mineral reserves tailored to foundry applications • Strategically located manufacturing facilities with just-in-time delivery from multiple locations Innovation • Waste reduction • Improved casting quality and productivity • Lower emissions from the use of high performing additives Pre-Blended Market Penetration Relative Market Size (Width) and Pre-Blended Penetration (%) China Foundry Market Evolution Source: MTI estimates 2013 2023 Type 1 Type 2 Type 3 MTI addressable market
Slide 30 — Water and Remediation Solutions
30 Environmental & Infrastructure Water and Remediation Solutions Market Dynamics • Increased awareness of “Forever Chemicals” - Clean drinking water focus • USA EPA regulation limits set for six PFAS compounds in drinking water • Global expansion of PFAS regulations • Increase in in situ remediation CERCLA* projects MTI Position • Well-established solutions in wastewater and remediation • Proprietary FLUORO-SORB® adsorbent technology for PFAS remediation: - Proven technology for water and soil remediation around the world • Collaboration with US EPA Innovation • Deployment Versatility: Standalone or component of more complex system • Product Versatility: Drinking water, landfill leachate, wastewater, and soil remediation • Tailored solutions for unique, site-specific challenges FLUORO-SORB® Adsorbent *PFAS National Primary Drinking Water Regulation (epa.gov) **Source: Environmental Business International, Inc. EBI estimates using site count estimates from EPA, ITRC, U.S. DOT FAA, water and solid waste industries associations, and a consensus of expert respondents to a % possible PFAS contamination surveys and interviews. †Figures calculated or using the midpoint of consensus ranges per presentation at the "Strategic Information for a Changing Industry" Webinar * The Comprehensive Environmental Response, Compensation, and Liability Act
Slide 31 — Leading positions and growth supported by strong foundation
31 Leading positions and growth supported by strong foundation Bentonite clay highly specialized mineral with physical/chemical properties that are versatile across many applications Core technologies applied to deliver differentiated solutions tailored to specific customer demand and processes Products and services are significantly differentiated by the quality, world class analytical services and technical support, and close engagement with its customers Leadership positions in all key markets #1 Long-term sustainable growth Differentiated Global Mineral Reserves Core Technologies Application Expertise Customer Partnership Unique capabilities extracting the most value out of the mineral reserves delivering long-lasting benefits to the customer
Slide 32 — Sustainable long-term organic growth through the cycle
32 Environmental & Infrastructure High-Temperature Technologies Sustainable long-term organic growth through the cycle Household & Personal Care Specialty Additives 7-10% CAGR 3-5% CAGR ▪ Pet care growth ▪ Market share growth of high-margin specialty products ▪ Expansion of sustainable solutions and market share growth for packaging ▪ Innovative solutions including lightweighting and bioplastics ▪ Innovative solutions for existing and new customers including automation and data analytics ▪ Growth in underpenetrated markets ▪ Environmental and water remediation solutions ▪ Demand growth for infrastructure related solutions 4-6% CAGR 3-6% CAGR 4-7% Sales CAGR* Expansion in higher growth consumer- oriented markets Geographic expansion in key end-markets Product innovation * long-term growth potential
Slide 33 — Organic sales growing at 5% CAGR through 2027
33 5-Year Targets Organic sales growing at 5% CAGR through 2027 1 Margin improvement to 15% by 2025 2 Operating Income growing at 10% CAGR through 2027 3 Continued strong FCF generation of ~7% of Sales 4 Strong balance sheet with flexibility for inorganic growth 5
Slide 34 — 34
34 A global specialty minerals company well positioned for long-term growth * #1 in Worldwide Bentonite; Global Private Label, North America Bulk Clumping and Europe Premium Cat Litter Provider; Worldwide in Precipitated Calcium Carbonate (PCC) and North America Specialty PCC; World Largest Producer and Supplier of Green Sand Bonds; Global Refractory Laser Measurement Systems, North America Monolithic Refractories and North America Solid Core Calcium Wire; Active Waterproofing for Concrete Structures based on management estimates Deep understanding of customer and industry needs Global reach through mineral resources and R&D centers Accelerated innovation focusing on secular and sustainable trends Positions across in all product lines: - Cat litter, - Paper & packaging, - Foundry & refractory, - Building materials* #1 Long-term sustainable organic growth Inorganic opportunities leveraging capabilities Technology and Application Know-How Differentiated Global Mineral Reserves Bentonite Calcium Carbonate Other Specialty Minerals Functional Additives Crystal Engineering Engineered Blends Particle Surface Modification
Slide 35 — A powerful
MTI values and culture Global mineral reserves MTI Business System A powerful combination to drive shareholder value Differentiated technologies Application expertise Financial strength
Slide 36 — © 2024 Minerals Technologies Inc. All Rights Reserved.
© 2024 Minerals Technologies Inc. All Rights Reserved.