Investor Presentaiton
Realigning Capital Allocation Priorities to Current Environment
1
High-Return
Growth
2 Financial
3
Flexibility
Strategically grow
Energy Storage and
Specialties
■ Maintain capital
discipline and
operational excellence
Flexibly re-phase
investments with market
Target >2x WACC at
mid-cycle pricing;
>1x WACC at trough
■ Committed to
Investment Grade credit
profile
☐
☐
Ample liquidity (~$1.8B)
to maneuver with market
dynamics
Target long-term net debt
to adj. EBITDA ratio 1 of
< 2.5x
Shareholder
Remuneration
■ Continue to support our
dividend; grow dividend
as free cash flow
expands
■ Lower near-term focus
on share repurchase as
free cash flow pointed
toward attractive growth
investments
☐
☐
4
Portfolio
Management
Pursue suite of organic
investments as key
catalyst for growth
Actively assess portfolio
Reduced focus on M&A
as a growth accelerant
1 Under bank covenant definition as revised in February 2024 amendment to credit agreement, see Appendix
A Albemarle
12View entire presentation