Decision improves financial flexibility and preserves optionality

CHARLOTTE, N.C., Feb. 11, 2026 /PRNewswire/ -- Albemarle Corporation (NYSE:ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced it will idle the remaining operating train, Train 1, at its Kemerton lithium hydroxide processing plant in Western Australia and place it into care and maintenance effective immediately. Today's announcement follows actions in 2024 to place Train 2 into care and maintenance and to cease expansion plans for Trains 3 and 4.

The Kemerton plant processes spodumene from the Greenbushes mine, one of the world's best spodumene resources. Albemarle holds ownership interest and half of the offtake rights from Greenbushes through an Australian joint venture. Kemerton, with its proven technology and commercial scale lithium hydroxide production, was built to enable the development of a Western lithium supply chain.

"Idling operations at Kemerton was a difficult decision. It follows significant actions we have taken over the past two and a half years to reduce operating costs during an extended period of price volatility in the market," said Kent Masters, Albemarle Chairman and CEO. "Unfortunately, recent lithium price improvements alone are not enough to offset the challenges facing Western hard-rock lithium conversion operations. This decision improves our financial flexibility and preserves optionality."

The decision is expected to be accretive to adjusted EBITDA beginning in the second quarter of 2026 with no impact to projected 2026 volumes. Albemarle will meet customer demand for lithium hydroxide through other production channels.

Albemarle's mining interests in Australia, including its holdings in Greenbushes and Wodgina and its exploration interests in Western Australia, are not impacted by the Kemerton decision as they remain core components of the company's strategy.

In a separate press release issued today, Albemarle shared its fourth quarter and full year 2025 earnings results. The company will provide further details on its conference call to discuss its financial results at 8 a.m. EST on Thursday, February 12, 2026.

Access to the call is available via webcast or direct dial. A link to the webcast can be found through Albemarle Corporation's website at http://investors.albemarle.com. Direct dial numbers are provided below:

Participant Dial-in Numbers:

U.S. & Canada Toll-Free: 1 (800) 590-8290

International: 1-240-690-8800

Conference ID: ALBQ4

Attendee URL:

https://albemarle-q4-2025-earnings-call.open-exchange.net/

About Albemarle

Albemarle Corporation (NYSE:ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com.

Albemarle regularly posts information to Albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

Forward-Looking Statements

This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "guidance," "intend," "may," "outlook," "scenario," "should," "would," and "will" and similar references to future periods. Forward-looking statements may include statements regarding: our 2026 company and segment outlooks, including guidance related to impact on 2026 EBITDA and volumes; plans and expectations regarding customer demand, production impacts, financial flexibility and optionality, potential market pricing of lithium and other underlying assumptions and outlook considerations, other mining interests and projects, and all other information relating to matters that are not historical facts. These and other forward-looking statements are based on management's current estimates, assumptions and expectations and involve risks and uncertainties that could significantly affect expected results. Actual results could differ materially from those expressed or implied in the forward-looking statements if one or more of the underlying estimates, assumptions or expectations prove to be inaccurate or are unrealized. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; changes in trade policies and tariffs; financial and operating performance of customers; timing and magnitude of customer orders; fluctuations in lithium market prices; potential production volume shortfalls; increased competition; changes in product or conversion demand; availability and cost of raw materials and energy; technological change and development; completion of the audit of our annual financial statements; fluctuations in foreign currencies; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; geopolitical conflicts and political unrest; trade policies and tariffs; changes in inflation or interest rates; volatility in the debt and equity markets; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov. These forward-looking statements speak only as of the date of this press release. Albemarle assumes no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Investor Relations Contact: +1 (980) 308-6194, invest@albemarle.com

Media Contact: Ryan Dean, +1 (980) 308-6310, media@albemarle.com

Australia Media Contact: mediacontactaustralia@albemarle.com

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SOURCE Albemarle Corporation

Albemarle Announces Plans to Idle its Kemerton Lithium Hydroxide Processing Plant