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1. The 'Intel Inside' for electric vehicle batteries and other essential industrial chemicals.

2. A specialized version of Dow Chemical or DuPont, focused on vital materials like lithium for EV batteries, fire safety chemicals, and refining catalysts.

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• Lithium Compounds: Essential chemicals like lithium carbonate and lithium hydroxide, primarily used in lithium-ion batteries for consumer electronics and electric vehicles.
• Lithium Reagents: Specialty chemicals such as butyllithium and lithium aluminum hydride, vital for organic synthesis and the pharmaceutical industry.
• Bromine and Bromine-based Fire Safety Solutions: Products designed to provide fire retardancy and safety across various materials and industries.
• Bromine Specialty Chemicals: Diverse bromine derivatives used in industrial applications, including oil and gas drilling, mercury control, and water purification.
• Petroleum Refining Catalysts: A range of catalysts, including hydroprocessing and fluidized catalytic cracking catalysts, crucial for efficient petroleum refining processes.
• Other Catalysts: Includes organometallics and curatives applied in various chemical and industrial processes.
• Specialty Metal Chemicals: Products based on cesium, zirconium, barium, and titanium for pharmaceutical, chemical, and pyrotechnical uses.
• Lithium Recycling Services: Provides technical services and recycling for lithium-containing by-products.

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Kent Masters, Chairman and Chief Executive Officer

Kent Masters was named Chairman and Chief Executive Officer of Albemarle Corporation in April 2020, having joined the Albemarle board of directors in 2015 and serving as Lead Independent Director from 2018. Prior to Albemarle, Masters served as Operating Partner of Advent International, an international private equity group. He was also Chief Executive Officer of Foster Wheeler AG, a global engineering and construction contractor and power equipment supplier, which was acquired by Amec plc. Additionally, he was a member of the executive board of Linde AG.

Neal Sheorey, Executive Vice President and Chief Financial Officer

Neal Sheorey joined Albemarle as Executive Vice President and Chief Financial Officer on November 6, 2023. He has over 20 years of experience in finance, business, and corporate leadership roles at Dow, a global materials science company. His roles at Dow included Vice President of Dow's Coatings & Performance Monomers business unit, Vice President of Investor Relations, Senior Director of Corporate Development, and Global Finance Director for the Chemicals business group.

Eric Norris, Chief Commercial Officer

Eric Norris serves as Albemarle's Chief Commercial Officer. He joined Albemarle in January 2018 as Chief Strategy Officer and was later appointed President of the Lithium global business unit, which became the Energy Storage global business unit. Before joining Albemarle, Norris was President of Health and Nutrition for FMC Corporation, where he led the divestiture of FMC Health and Nutrition to DuPont. He also founded and led an internet-based firm that offered formulation and design tools to the chemical industry.

Mark Mummert, Chief Operations Officer

Mark Mummert was appointed Chief Operations Officer effective August 11, 2025. His tenure at Albemarle began in 2019 as Chief Operating Officer for the Energy Storage business, and he served as Senior Vice President and Chief Capital, Resources and Integrated Supply Chain Officer since November 2024. Mummert's extensive industry experience includes leadership roles at FMC Corporation, Rohm and Haas Company, and The Dow Chemical Company.

Melissa Anderson, Chief Business Transformation Officer

Melissa Anderson is the Chief Business Transformation Officer for Albemarle, responsible for enterprise strategy and growth, as well as research and technology. She joined Albemarle in January 2021 to lead the human resources organization and assumed enterprise transformation responsibility in November 2024. Prior to Albemarle, she served as Executive Vice President, Administration and Chief Human Resources Officer for Duke Energy. Her previous experience includes senior leadership roles at Domtar Corporation, The Pantry, Inc., and a 17-year career at IBM Corporation, where her last role was Vice President of HR in Global Financing and she created the first Fortune 50 shared services center.

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Key Risks to Albemarle Corporation (ALB)

1. Lithium Market Volatility and Oversupply: Albemarle's financial performance is highly susceptible to fluctuations in global lithium prices and the balance between supply and demand. The market has experienced considerable volatility, with periods of oversupply directly impacting the company's profitability and stock performance. This risk is amplified by the company's strong ties to the electric vehicle (EV) sector, where changes in adoption rates, government subsidies, technological advancements in battery chemistry, and competition can significantly influence demand and pricing.
2. Environmental and Regulatory Risks: The company is exposed to complex and evolving environmental and regulatory landscapes, particularly concerning its mining and chemical production operations. Risks include stricter environmental regulations, increased public and community scrutiny over the environmental impacts of mining activities (such as water usage and land disturbance), and potential conflicts with local communities or indigenous groups regarding land and waterway usage. Non-compliance or adverse environmental events could lead to operational restrictions, increased costs, fines, or reputational damage.
3. Impact of Energy Transition on Catalysts Segment: Albemarle's Catalysts segment primarily serves the petroleum refining industry. The global push towards decarbonization and the transition to renewable energy sources pose a long-term strategic risk to this segment. As the demand for fossil fuels potentially declines, so too could the demand for catalysts used in petroleum refining, necessitating a strategic pivot or causing a reduction in revenue and growth opportunities for this business unit. Albemarle has acknowledged this by undertaking a strategic review of its Catalysts business in response to the accelerating energy transition.

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• The rapid development and commercialization of alternative battery chemistries, such as sodium-ion batteries, which could provide a lower-cost, potentially more sustainable alternative to lithium-ion in certain applications like grid storage and entry-level electric vehicles, thereby impacting the future growth and demand for lithium.
• The long-term global energy transition away from fossil fuels and increasing adoption of electric vehicles, which is expected to lead to a structural decline in demand for petroleum refining. This directly threatens Albemarle's Catalysts segment, which primarily provides catalysts for petroleum refining processes.
• The ongoing development and increasing regulatory and consumer preference for non-brominated flame retardants. As new, effective, and environmentally preferable alternatives emerge, they could displace Albemarle's bromine-based fire safety solutions, impacting its Bromine segment.

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Albemarle Corporation operates in key addressable markets across its Lithium, Bromine, and Catalysts segments, serving a global demand for specialized chemicals.

Lithium Segment

The global lithium market, which includes lithium compounds vital for batteries in consumer electronics and electric vehicles, was estimated at USD 32.38 billion in 2025. It is projected to reach USD 96.45 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 14.5% from 2026 to 2033. The automotive sector alone is anticipated to be a significant driver of this growth, accounting for over 41% of the market in 2025.

Bromine Segment

For its bromine and bromine-based solutions, Albemarle addresses several markets:

• Overall Bromine Market: The global bromine market is projected to grow from USD 2.86 billion in 2025 to USD 3.76 billion by 2030, with a CAGR of 5.6%.
• Flame Retardants: The global flame retardant market, a key application for bromine, was estimated at USD 10.56 billion in 2025. This market is expected to grow to USD 18.10 billion by 2033, at a CAGR of 6.9% from 2026 to 2033.
• Drilling Fluids: The global drilling fluids market, where bromine compounds are used in oil and gas well completion, was estimated at USD 8.71 billion in 2024. It is expected to reach USD 11.27 billion by 2030, growing at a CAGR of 4.4% from 2025 to 2030.

Catalysts Segment

In its Catalysts segment, Albemarle serves the petroleum refining industry:

• Refinery Catalysts: The global refinery catalysts market was estimated at USD 10.10 billion in 2025. It is projected to grow to USD 14.25 billion by 2033, at a CAGR of 4.3% from 2026 to 2033.
• Hydroprocessing Catalysts: The global hydroprocessing catalysts market is projected to reach USD 2.92 billion by 2036, accelerating from USD 2.28 billion in 2026 at a CAGR of 2.5%.
• Fluidized Catalytic Cracking (FCC) Catalysts: The global fluidized catalytic cracking (FCC) catalyst market was valued at USD 3.00 billion in 2024 and is expected to reach USD 4.17 billion by 2032, at a CAGR of 4.20%.

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Share Repurchases

Albemarle has not reported significant share repurchases over the last 3-5 years.

Share Issuance

• In February 2021, Albemarle conducted a public offering of 8,496,733 shares of common stock at $153.00 per share, raising approximately $1.3 billion in gross proceeds. The proceeds were primarily allocated to fund growth capital expenditures for lithium operations in Australia, Chile, Silver Peak, Nevada, and China, as well as for debt repayment.
• In March 2024, Albemarle launched an offering of $1.75 billion in depositary shares, which was subsequently upsized to $2.0 billion. These depositary shares represent a 1/20th interest in Series A Mandatory Convertible Preferred Stock. The net proceeds, approximately $1.94 billion, are intended for general corporate purposes, including funding growth capital expenditures for lithium operations in Australia and China, and repaying outstanding commercial paper.

Outbound Investments

• In September 2021, Albemarle acquired Guangxi Tianyuan New Energy Materials, a Chinese manufacturer of lithium carbonate and hydroxide battery materials, for $200 million.
• In October 2025, Albemarle agreed to sell a controlling stake (51%) in its Ketjen Corporation's refining catalyst solutions business to KPS Capital Partners, with the transaction completed in March 2026.
• In January 2026, Albemarle divested its 50% interest in the Eurecat joint venture to Axens SA. The combined pre-tax proceeds from the Ketjen and Eurecat transactions totaled approximately $660 million, intended for debt reduction and other general corporate purposes.

Capital Expenditures

• Albemarle's capital expenditures were $953.7 million in 2021, $1.262 billion in 2022, and peaked at $2.155 billion in 2023.
• Capital expenditures decreased to $1.681 billion in 2024 and further to $589.8 million in 2025, representing a 65% year-over-year reduction in 2025.
• For 2026, Albemarle expects capital expenditures to remain relatively flat, ranging from approximately $550 million to $600 million, with a continued focus on resource development, productivity, and sustaining existing assets. Projects include commissioning the Meishan lithium conversion facility and completing commissioning activities for the Kemerton lithium conversion facility.