Albemarle 2022 Sustainability Report Highlights Strong Progress Toward Goals

Company hosting Sustainability Day webcast with leadership on June 20 at 9 a.m. EDT

CHARLOTTE, N.C., June 5, 2023 – Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today released its annual Sustainability Report, Committed to Building a More Resilient World.

2022 Sustainability Report Highlights

  • On-track progress toward sustainability goals and targets
  • New goals for air quality, scope 3 greenhouse gas emissions (GHG) and diversity
  • Initial Task Force for Climate-related Financial Disclosures (TCFD) report
  • Sustainability Day webcast scheduled for Tuesday, June 20, 2023, at 9 a.m. EDT

“Our annual Sustainability Report is an opportunity to share the progress we have made on our key environmental and diversity targets,” said Albemarle CEO Kent Masters. “Albemarle is a values-driven organization that strives to operate with transparency and integrity. As we continue to execute against our growth strategy and innovate around new products and technologies, we are dedicated to doing so with people and planet in mind.”

Progress Against Sustainability Targets

  • Albemarle is on track to achieve its goal of reducing the intensity of freshwater usage in Chile and Jordan by 25% by 2030.
  • Albemarle finished 2022 ahead of its diversity, equity and inclusion (DE&I) targets of increasing global gender diversity and U.S. racial diversity in senior-level management roles year-over-year.
  • Lithium GHG emissions intensity is tracking well below 2030 target.
  • Bromine and Catalysts businesses are on track to achieve goals to reduce GHG emissions by 35% by 2030, in line with science-based targets.
  • Albemarle is restating GHG targets to align with the company’s new global business structure.
  • Albemarle introduced a new air quality goal to reduce 90% of sulfur oxide (SOx) emissions by 2027, with a 2022 baseline.
  • Albemarle introduced a new scope 3 target to engage with suppliers to collect 75% by 2023 and 90% by 2024 of the company’s raw material carbon footprint data; setting the foundation for a future scope 3 reduction target.

Task Force for Climate-related Financial Disclosures Report

In 2022, Albemarle began to report aligned with the TCFD recommendations by providing investors and other stakeholders with more comprehensive information about the impacts of climate change on the business.

For more information, please view Albemarle's 2022 Sustainability Report.

Albemarle Sustainability Day Webcast
Albemarle will host its annual Sustainability Day webcast on Tuesday, June 20, 2023, at 9 a.m. EDT featuring updates from CEO Kent Masters, global leadership across Energy Storage, Specialties, DE&I, Finance and Global External Affairs, as well as community partners and customers.

Registration for the webcast can be accessed here. Once registered, users will receive a link via email to directly access the webcast. A webcast replay will be posted to the company's website following the conclusion of the event.

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 allow 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 and on Twitter @AlbemarleCorp.

Albemarle regularly posts information to its website, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, Securities and Exchange Commission (“SEC”) 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,” “should,” “would,” and “will”. Forward-looking statements include statements regarding our progress toward our sustainability, environmental, diversity, and other similar goals and targets, and all other information relating to matters that are not historical facts. 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; financial and operating performance of customers; timing and magnitude of customer orders; fluctuations in lithium market pricing; production volume shortfalls; increased competition; changes in the product demand; availability and cost of raw materials and energy; technological change and development; 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; political unrest; 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: Brook Wootton, +1 (980)-766-1922, [email protected]

Media Contact: Hailey Quinn, +1 (980)-299-5640, [email protected]