Our operations generated solid cash flows during the first nine months of 2025. We paid dividends of $77.7 million, repurchased common stock for $77.2 million, and funded capital expenditures of $49.6 million. Additionally, we reduced our long-term debt by $188.2 million (Net Debt by $213.2 million) during the first nine months of 2025, driving our Net Debt to EBITDA ratio down to 0.9 as of September 30, 2025.

The cash flows generated by operations enable us to continue to provide value to our shareholders through reinvestment in our businesses for growth and efficiency, acquisitions, share repurchases, and dividends. Earlier today, the Company’s Board of Directors approved raising the quarterly dividend 9% from $2.75 per share on our common stock to $3.00 per share for the dividend that is payable January 2, 2026.

We are pleased with the performance of both our petroleum additives and specialty materials segments during the first nine months of 2025. We are experiencing impacts to the petroleum additives segment due to market softness and the uncertain global economic environment in which we operate. Nonetheless, we anticipate continued solid results from this segment. We will continue to focus on cost control and margin management, while advancing our initiatives to build a global manufacturing network that will enable more efficient product delivery to our customers in the years ahead. We are also excited about expanding production in the specialty materials segment to provide more capacity and a stronger supply chain for our customers, and we expect to see that capacity come online in the second half of 2026.

We continue to monitor the uncertain macroeconomic environment, particularly the changes in international trade relations and tariffs, and assess the potential impacts to our operations. Our dedicated team makes decisions to promote long-term value for our shareholders and customers, and remains focused on our long-term objectives. We believe the fundamentals of how we run our business – a long-term view, safety-first culture, customer-focused solutions, technology-driven product offerings, and world-class supply chain capability – will continue to be beneficial for all our stakeholders.

NewMarket Corp