Maintaining Strategy to Deliver Volumetric Growth

Disciplined Capital Allocation to Support Growth Strategy Invest in High-Return Growth Portfolio Management Maintain Financial Flexibility Dividends & Share Repurchases Objectives ■ Growth remains the primary capital allocation priority Strategically grow Energy Storage and Specialties to leverage low-cost resources Position Ketjen for long-term stability Maintain capital discipline and operational excellence Actively assess portfolio; reinvest proceeds ■M&A to accelerate growth at attractive returns; primary targets include: Lithium resources Process technology, including for advanced materials Battery recycling ■ Committed to Investment Grade rating ■ Free cash flow positive in 2022, significant operating cash flow to fund growth ■ Leverage expected to remain <1.0x near-term to preserve flexibility $1.6B cash and cash equivalents ■ Continue to support our dividend ■ Limited cash flow available for repurchase as we invest in growth Expected 29th year of dividend growth Ability to Adapt to Changing Economic Conditions Slow non-critical / non-growth capital expenditures Additional partnering / tolling arrangements Position company to take advantage of low-price acquisition targets in a downturn ■ Enable continuation of growth ■ Slow hiring, T&E, and other discretionary costs ■ Shift production volumes to support highest demand markets Excess cash flow to support dividend growth and potential repurchases ALBEMARLE 12

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