TETRA Technologies (TTI) Investor presentation summary

Strategic direction and growth initiatives

• 2025 marks a pivotal year with ramping sales of Pure Flow electrolytes for battery energy storage and progress in water treatment and bromine projects.

• The company is advancing commercial water desalination solutions and expanding automation and international reach in water services.

• The Arkansas bromine project is a critical growth driver, targeting $230M incremental revenue and $105M incremental EBITDA at full production, with a 62% IRR.

• Over 40,000 acres of mineral-rich brine leases in Arkansas support future lithium and bromine extraction opportunities.

• The 2030 plan targets a shift to higher-value specialty chemicals, minerals, and water treatment, aiming for $1.2B revenue and $325M adjusted EBITDA.

Financial performance and outlook

• Trailing twelve months (TTM) revenue as of Q3 2025 is $619M, with adjusted EBITDA of $116M and an 18.7% margin.

• 2025 revenue guidance is $620–630M, with adjusted EBITDA expected between $107–112M.

• Net debt stands at $114M, with a net leverage ratio of 1.2x and liquidity of $208M as of September 2025.

• Base business free cash flow is projected to exceed $50M, with $49M achieved in the latest TTM.

• Adjusted EBITDA margins for Completion Fluids & Products reached a 10-year high at 33.1%.

Business segment highlights

• Completion Fluids & Products generated $362M TTM revenue, with 60% from completion fluids and 40% from industrial chemicals.

• Key growth drivers include deepwater oil & gas completions, global GDP, and expansion in bromine capacity.

• Industrial chemicals revenue is growing faster than GDP, with a strong calcium chloride business and emerging lithium extraction opportunities.

• Water & Flowback Services are leveraging automation and international contracts, notably in Argentina, to drive revenue and margin improvement.

• Produced water recycling and desalination technologies are recognized for innovation and target large addressable markets in the Permian Basin.