Financial Analysis

NOTE 4. ACQUISITIONS On April 18, 2025, Olin acquired AMMO, Inc.s small caliber ammunition manufacturing assets for total consideration of $55.8 million. The acquisition, which includes AMMO Inc.s brass shellcase capabilities and its 185,000 square foot production facility located in Manitowoc, WI, is included in Olins Winchester segment. The acquisition was financed with cash on hand. We recorded the aggregate excess purchase price over the fair value of identifiable tangible assets acquired and liabilities assumed, which included a final allocation of $4.1 million of goodwill allocated to our Winchester segment. The total assets acquired, excluding goodwill, and liabilities assumed amounted to $62.2 million and $6.4 million respectively. The acquisition is not material and therefore supplemental pro forma financial information is not provided. On October 1, 2023, Olin acquired the assets of White Flyer Targets, LLC (White Flyer) from Reagent Diversified Holdings, Inc. for $63.5 million. The acquisition was financed with cash on hand. White Flyer designs, manufactures and sells recreational trap, skeet, international and sporting clay targets and has been included in Olins Winchester segment. We recorded the aggregate excess purchase price over identifiable net tangible and intangible assets acquired and liabilities assumed, which included final allocation of $2.4 million of goodwill allocated to our Winchester segment and $4.5 million of intangible assets subject to amortiz …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 22. COMMITMENTS AND CONTINGENCIES The following table summarizes our contractual commitments under purchase contracts as of December 31, 2025: Purchase Commitments Future Contractual Purchase Commitments ($ in millions) 2026 $ 726.8 2027 670.6 2028 517.2 2029 516.2 2030 504.1 Thereafter 2,631.1 Total purchase commitments $ 5,566.0 The above purchase commitments include raw materials, capital expenditures, long-term energy supply contracts and utility purchasing commitments utilized in our normal course of business for our projected needs. Legal Matters In April 2023, Shintech filed a lawsuit against Olin Corporation and its wholly owned subsidiary, Blue Cube Operations LLC, in the U.S. District Court for the Southern District of Texas. Shintech alleged that Olin breached a long-term VCM supply agreement relating to deliveries to Shintechs polyvinyl chloride (PVC) facility in Freeport, TX, following a pricing dispute, a 2023 maintenance turnaround at Olins Freeport, TX VCM facility, and Olins declaration of force majeure at Olins Freeport, TX VCM facility. Olin supplies VCM to Shintech under a long-term supply contract. Shintech sought injunctive relief compelling performance under the supply agreement, specific performance of Olins alleged contractual obligations, and recovery of monetary damages. After nearly three years of litigation, on February 10, 2026, the jury returned a verdict in favor of Shintech on its breach-of-contract claims. As a result of this verdict, th …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 16. DEFINED CONTRIBUTION PLAN The Company sponsors a defined contribution plan for qualifying domestic employees (Employee Retirement Savings Plan) and a supplemental executive retirement plan as follows: Employee Retirement Savings Plan We sponsor a defined contribution plan for qualifying domestic employees, for which the Company contributes between 5.0% and 7.5% of the employees eligible compensation into a retirement account (Company Contribution). Employees generally vest in the value of the Company Contribution according to a schedule based on service. We also match a percentage of our employees contributions (Company Match), which are invested in the same investment allocation as the employees contributions. Employees immediately vest in the Company Match. Our contributions to the defined contribution plan for 2025, 2024 and 2023, were as follows: Years Ended December 31, 2025 2024 2023 Employee Retirement Savings Plan ($ in millions) Company Contribution $ 39.8 $ 37.6 $ 36.8 Company Match 16.9 14.6 14.5 Total contributions $ 56.7 $ 52.2 $ 51.3 Supplemental Executive Retirement Plan During 2024, we elected to fund the Companys non-qualified supplemental executive retirement plan obligations through a rabbi trust in the amount of $7.0 million, which was included within other investing activities on the consolidated statements of cash flows. The rabbi trust is subject to creditor claims in the event of insolvency by Olin, but the assets held in the rabbi trust are n …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

NOTE 11. DEBT December 31, 2025 2024 Financing Obligations ($ in millions) Fixed-rate Financing 9.50% senior notes, due 2025 (2025 Notes) $ $ 108.6 5.125% senior notes, due 2027 (2027 Notes) 500.0 5.625% senior notes, due 2029 669.3 669.3 5.00% senior notes, due 2030 515.3 515.3 6.625% senior notes, due 2033 (2033 Notes) 600.0 Variable-rate Financing Term Loan Facilities (5.438% and 6.057% at December 31, 2025 and 2024, respectively) 637.8 332.5 Revolving Credit Facilities 5.438% and 6.057% at December 31, 2025 and 2024, respectively) 170.0 Receivables Financing Agreements 340.0 475.0 Recovery zone bonds (4.938% and 5.557% at December 31, 2025 and 2024, respectively) 83.0 83.0 Industrial development and environmental improvement obligations (5.00% at December 31, 2024) 2.9 Other: Deferred debt issuance costs (18.1) (14.3) Unamortized bond original issue discount (0.1) Total debt 2,827.3 2,842.2 Amounts due within one year 109.7 129.0 Total long-term debt $ 2,717.6 $ 2,713.2 Senior Notes and Senior Credit Facilities On March 14, 2025, Olin issued $600.0 million aggregate principal amount of 6.625% senior notes due April 1, 2033 (2033 Notes), in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended. Interest on the 2033 Notes is paid semi-annually and began on October 1, 2025. On March 14, 2025, Olin entered into a $1,850.0 million senior credit facility (2025 Senior Credit Facility), which increased the borrowing limit of our th …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Years Ended December 31, 2025 2024 2023 Segment Sales by Product Line ($ in millions) Chlor Alkali Products and Vinyls Caustic soda $ 1,632.3 $ 1,526.9 $ 1,790.0 Chlorine, chlorine derivatives and other products 2,052.1 2,103.3 2,205.1 Total Chlor Alkali Products and Vinyls 3,684.4 3,630.2 3,995.1 Epoxy Aromatics and allylics 564.7 512.2 525.1 Epoxy resins and formulated solutions 807.1 714.1 804.1 Total Epoxy 1,371.8 1,226.3 1,329.2 Winchester Commercial 636.4 836.6 806.5 Military and law enforcement (1) 1,088.2 847.0 702.2 Total Winchester 1,724.6 1,683.6 1,508.7 Total sales $ 6,780.8 $ 6,540.1 $ 6,833.0

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NOTE 17. STOCK-BASED COMPENSATION Stock-based compensation granted includes stock options, performance share awards, restricted stock awards and deferred directors compensation. Stock-based compensation expense was as follows: Years Ended December 31, 2025 2024 2023 Stock Compensation Expense ($ in millions) Stock-based compensation $ 24.8 $ 20.0 $ 26.7 Mark-to-market adjustments (5.1) (10.7) 1.1 Total expense $ 19.7 $ 9.3 $ 27.8 Under the stock option and long-term incentive plans, options may be granted to purchase shares of our common stock at an exercise price not less than fair market value at the date of grant and are exercisable for a period not exceeding ten years from that date. Stock options, restricted stock and performance shares typically vest over three years. We issue shares to settle stock options, restricted stock and other share-based performance awards. In 2025, long-term incentive awards included performance share awards and restricted stock. In 2024 and 2023, long-term incentive awards included stock options, performance share awards and restricted stock. The stock option exercise price was set at the fair market value of common stock on the date of the grant. Performance Shares Performance share awards are denominated in shares of our stock and are paid half in cash and half in stock. Payouts for performance share awards are based on two criteria: (1) 50% of the award is based on Olins total shareholder returns (TSR) over the applicable three-year perfor …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE 10. GOODWILL AND INTANGIBLE ASSETS Changes in the carrying value of goodwill were as follows: Chlor Alkali Products and Vinyls Epoxy Winchester Total Goodwill ($ in millions) Balance at January 1, 2024 (1) $ 1,276.1 $ 145.2 $ 2.7 $ 1,424.0 Acquisition activity (0.3) (0.3) Foreign currency translation adjustment 0.3 (0.4) (0.1) Balance at December 31, 2024 (1) 1,276.4 144.8 2.4 1,423.6 Acquisition activity 4.1 4.1 Foreign currency translation adjustment (0.1) (0.1) Balance at December 31, 2025 (1) $ 1,276.3 $ 144.8 $ 6.5 $ 1,427.6 (1) Includes cumulative goodwill impairment of $557.6 million and $142.2 million in Chlor Alkali Products and Vinyls and Epoxy, respectively. Intangible assets consisted of the following: December 31, 2025 2024 Useful Lives Gross Amount Accumulated Amortization Net Gross Amount Accumulated Amortization Net Intangible Assets ($ in millions) Customers, customer contracts and relationships 15 Years $ 524.4 $ (358.4) $ 166.0 $ 666.7 $ (469.2) $ 197.5 Trade names 7 Years 3.5 (1.2) 2.3 3.5 (0.6) 2.9 Acquired technology 4-5 Years 11.3 (9.4) 1.9 93.7 (91.7) 2.0 Other 10 Years 4.9 (0.7) 4.2 4.9 (0.7) 4.2 Total intangible assets $ 544.1 $ (369.7) $ 174.4 $ 768.8 $ (562.2) $ 206.6 Amortization expense relating to intangible assets was $37.3 million, $37.6 million and $37.0 million in 2025, 2024 and 2023, respectively. Estimated amortization expense relating to intangible assets for the subsequent five-years is as follows: Estimated Amortization Expense - I …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 14. INCOME TAXES Years Ended December 31, 2025 2024 2023 Components of Income (Loss) Before Taxes ($ in millions) U.S. $ (285.8) $ (59.9) $ 456.7 Foreign 124.7 201.6 102.6 Income (loss) before taxes $ (161.1) $ 141.7 $ 559.3 Components of Income Tax (Benefit) Provision Current: Federal $ 3.8 $ 46.4 $ 96.2 State 0.4 7.3 19.4 Foreign 27.5 22.8 48.0 Total current 31.7 76.5 163.6 Deferred: Federal (72.6) (55.1) (25.3) State (11.0) (8.0) (7.9) Foreign (8.1) 23.3 (23.1) Total deferred (91.7) (39.8) (56.3) Income tax (benefit) provision $ (60.0) $ 36.7 $ 107.3 We account for non-refundable tax credits in accordance with ASC 740, Income Taxes, recognizing a decrease to our income tax expense. Refundable tax credits are accounted for outside the scope of ASC 740, and treated, by analogy, as government grants, using International Accounting Standards (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance, recognizing such grants when the Company has probable assurance that it will comply with the grants conditions and that the grant will be received. In August 2022, the Inflation Reduction Act (IRA) was enacted and provides various beneficial credits for energy efficient related manufacturing, transportation and fuels, hydrogen/carbon recapture and renewable energy. During 2025, Olin realized $22.0 million of investment tax credits related to the IRA via our Hidrogenii joint venture interest and recorded a tax benefit of $2.6 million. In 2025, we determ …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 12. PENSION PLANS We sponsor domestic and foreign defined benefit pension plans for eligible employees and retirees. Most of our domestic employees participate in defined contribution plans. However, a portion of our bargaining hourly employees continue to participate in our domestic qualified defined benefit pension plans under a flat-benefit formula. Our funding policy for the qualified defined benefit pension plans is consistent with the requirements of federal laws and regulations. Our foreign subsidiaries maintain pension and other benefit plans, which are consistent with local statutory practices. Our domestic qualified defined benefit pension plan provides that if, within three years following a change of control of Olin, any corporate action is taken or filing made in contemplation of, among other things, a plan termination or merger or other transfer of assets or liabilities of the plan, and such termination, merger or transfer thereafter takes place, plan benefits would automatically be increased for affected participants (and retired participants) to absorb any plan surplus (subject to applicable collective bargaining requirements). Based on our plan assumptions and estimates, we will not be required to make any cash contributions to the domestic qualified defined benefit pension plan at least through 2026. We have international qualified defined benefit pension plans to which we made cash contributions of $0.7 million, $1.3 million and $1.0 million in 2025, 2 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 5. RESTRUCTURING CHARGES As a result of weak epoxy resin demand and higher costs within the Latin American region, during the three months ended December 31, 2025, the Company made the decision to close our liquid epoxy resin manufacturing facility in Guaruja, Brazil and recorded restructuring charges of $9.6 million, including a $4.1 million non-cash asset impairment charge. The closure is expected to occur during the first quarter 2026. We expect to incur additional restructuring charges of approximately $15 million through 2027 related to this actions. Prior restructuring and optimization efforts, which have been previously announced and which we continue to execute on, include: closure of Chlorine 3 manufacturing facility in Freeport, TX announced on December 11, 2024; reduction of epoxy resin capacity at Freeport, TX facility, ceasing of remaining operations at Gumi, South Korea facility and reduction of sales and support staffing across Asia all announced on June 20, 2023; closure of cumene facility in Terneuzen, Netherlands and ceasing of solid epoxy resin production at Gumi, South Korea announced on March 21, 2023; closure of one of our bisphenol production lines at Stade, Germany site announced in 2022; closure of diaphragm-grade chlor alkali capacity of 400,000 tons at McIntosh, AL facility announced in 2021; closure of trichloroethylene and anhydrous hydrogen chloride liquefaction facilities in Freeport, TX announced January 18, 2021; and closure of chlor alka …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 19. SEGMENT INFORMATION The chief operating decision maker (CODM) is the individual, or group of individuals, who assess financial performance and determines resource allocation. Management has identified our Chief Executive Officer (CEO) as the CODM. In arriving at this conclusion, we considered that the individual who receives the relevant financial information, which is primarily provided in the form of segment operations reviews, is ultimately our CEO. Further, our CEO assesses the reasonableness of resource allocation, primarily in the form of capital allocation and budgetary analysis, and reviews segment results and resource allocation summaries prepared by segment management, consistent with their view of the business as a whole. We define segment results as income (loss) before interest expense, interest income, other operating income (expense), non-operating pension income, other income and income taxes, and includes the results of non-consolidated affiliates in segment results consistent with managements monitoring of the operating segments. We have three operating segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The three operating segments reflect the organization used by our management for purposes of allocating resources and assessing performance, and represents our reportable segments. Chlorine and caustic soda used in our Epoxy segment is transferred at cost from the Chlor Alkali Products and Vinyls segment. Cost of goods sold at Corporat …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2. ACCOUNTING POLICIES The preparation of the consolidated financial statements requires estimates and assumptions that affect amounts reported and disclosed in the financial statements and related notes. Actual results could differ from those estimates. Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with the accounting principles generally accepted in the United States. Principles of Consolidation The consolidated financial statements include the accounts of Olin and all majority-owned subsidiaries. Investments in affiliates where Olin does not exercise control are accounted for using the equity method of accounting. Accordingly, we include only our share of earnings or losses of these affiliates in consolidated net income (loss). See Note 9, Other Assets, for additional information related to our equity method investments. On January 10, 2023, Blue Water Alliance (BWA), our joint venture with Mitsui & Co., Ltd. (Mitsui), began operations. BWA is an independent global trader of Electrochemical Unit (ECU)-based derivatives, focused on globally traded caustic soda and EDC. Olin holds 51% interest and exercises control in BWA, and the joint venture is included in our consolidated financial statements in our Chlor Alkali Products and Vinyls segment, with Mitsuis 49% interest in BWA classified as noncontrolling interest. On September 18, 2025, we announced a mutual decision with Mitsui to end our joint venture, B …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 18. SHAREHOLDERS EQUITY On December 11, 2024, our Board of Directors approved a share repurchase program with a $1.3 billion authorization (2024 Repurchase Authorization). The Board of Directors previously authorized share repurchases with a $2.0 billion authorization on July 28, 2022 (2022 Repurchase Authorization). The 2024 Repurchase Authorization and 2022 Repurchase Authorization will terminate upon the purchase of $1.3 billion and $2.0 billion of common stock, respectively. For the years ended December 31, 2025, 2024 and 2023, 2.2 million, 5.9 million and 13.3 million shares, respectively, of common stock were repurchased and retired at a total value of $50.5 million, $300.3 million and $711.3 million, respectively. As of December 31, 2025, a cumulative total of 27.4 million shares have been repurchased and retired at a total value of $1,351.1 million under the 2022 Repurchase Authorization program, and $648.9 million of common stock remained authorized to be repurchased under the 2022 Repurchase Authorization program. As of December 31, 2024, there have been no repurchases under the 2024 Repurchase Authorization program and $1.3 billion remained available. We issued 0.1 million, 0.9 million and 1.0 million shares representing stock options exercised for the years ended December 31, 2025, 2024 and 2023, respectively, with a total value of $2.3 million, $23.9 million and $25.4 million, respectively. We have registered an undetermined number of securities with the SEC …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 3. ACQUISITIONS On April 18, 2025, Olin acquired AMMO, Inc.s small caliber ammunition manufacturing assets for total consideration of $55.8 million. The acquisition, which includes AMMO Inc.s brass shellcase capabilities and its 185,000 square foot production facility located in Manitowoc, WI, is included in Olins Winchester segment. The acquisition was financed with cash on hand. We recorded the final aggregate excess purchase price over the fair value of identifiable tangible assets acquired and liabilities assumed, which included a final allocation of $4.1 million of goodwill allocated to our Winchester segment. The total assets acquired, excluding goodwill, and liabilities assumed amounted to $62.2 million and $6.4 million, respectively. The acquisition is not material and therefore supplemental pro forma financial information is not provided. On June 15, 2026, Olin entered into a definitive agreement with Huntsman Corporation (Huntsman) to combine in an all-stock merger of equals transaction (the Merger Agreement) to form a combined company, OlinHuntsman Corporation. Pursuant to the terms of the Merger Agreement, at the effective time of the transaction, each issued and outstanding share of Huntsman common stock will be converted into the right to receive 0.5476 shares of Olin common stock. Upon completion of the transaction, existing Olin shareholders are expected to own approximately 54.5% of the combined company and existing Huntsman stockholders are expected to …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 18. COMMITMENTS AND CONTINGENCIES In April 2023, Shintech Incorporated (Shintech) filed a lawsuit against Olin Corporation and its wholly owned subsidiary, Blue Cube Operations LLC (Blue Cube), in the U.S. District Court for the Southern District of Texas. Shintech alleged that Olin breached a long-term VCM supply agreement relating to deliveries to Shintechs polyvinyl chloride (PVC) facility in Freeport, TX, following a pricing dispute, a 2023 maintenance turnaround at Olins Freeport, TX VCM facility, and Olins declaration of force majeure at Olins Freeport, TX VCM facility. Olin supplies VCM to Shintech under a long-term supply contract. Shintech sought injunctive relief compelling performance under the supply agreement, specific performance of Olins alleged contractual obligations, and recovery of monetary damages. After nearly three years of litigation, on February 10, 2026, the jury returned a verdict in favor of Shintech on its breach of contract claims. As a result of this verdict, the Company obtained new information related to this litigation loss contingency and recorded a pretax charge of $75.0 million in the fourth quarter of 2025 and $11.1 million in the first quarter of 2026, which is included in our condensed balance sheet under accrued liabilities. During the first half of 2026, we paid approximately $93 million to Shintech associated with the litigation matter and previously recorded accruals for a VCM pricing dispute with Shintech, and expect to pay app …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 13. DEFINED CONTRIBUTION PLAN The Company sponsors a defined contribution plan for qualifying domestic employees (Employee Retirement Savings Plan) and a supplemental executive retirement plan. Employee Retirement Savings Plan We sponsor a defined contribution plan for qualifying domestic employees, for which the Company generally contributes between 5.0% and 7.5% of the employees eligible compensation into a retirement account (Company Contribution). Employees generally vest in the value of the Company Contribution according to a schedule based on service. We also match a percentage of our employees contributions (Company Match), which are invested in the same investment allocation as the employees contributions. Employees generally vest immediately in the Company Match. Our contributions to the defined contribution plan were as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Employee Retirement Savings Plan ($ in millions) Company Contribution $ 11.7 $ 9.8 $ 21.7 $ 20.1 Company Match 4.3 4.3 8.7 8.5 Total contributions $ 16.0 $ 14.1 $ 30.4 $ 28.6 …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

NOTE 10. DEBT Long-term loans, notes and other financing obligations, consisted of the following: June 30, 2026 December 31, 2025 June 30, 2025 Financing Obligations ($ in millions) Fixed-rate Financing 5.625% senior notes, due 2029 $ 669.3 $ 669.3 $ 669.3 5.00% senior notes, due 2030 515.3 515.3 515.3 6.625% senior notes, due 2033 (2033 Notes) 600.0 600.0 600.0 Variable-rate Financing Term Loan Facilities 528.1 637.8 645.9 Revolving Credit Facilities 210.0 35.0 2024 Receivables Financing Agreement 442.0 340.0 465.0 Recovery zone bonds 83.0 83.0 83.0 Industrial development and environmental improvement obligations 2.9 Other Deferred debt issuance costs (18.6) (18.1) (19.7) Total debt 3,029.1 2,827.3 2,996.7 Amounts due within one year 109.7 19.2 Total long-term debt $ 3,029.1 $ 2,717.6 $ 2,977.5 Senior Notes and Senior Credit Facilities On March 14, 2025, Olin entered into a $1,850.0 million senior credit facility (2025 Senior Credit Facility), which increased the borrowing limit of our then-existing $1,550.0 million senior credit facility (2022 Senior Credit Facility) by $300.0 million and extended the maturity date from October 11, 2027 to March 14, 2030. The 2025 Senior Credit Facility includes a term loan facility with aggregate commitments of $650.0 million (2025 Term Loan Facility), which replaced Olins then-existing $350.0 million term loan facility (2022 Term Loan Facility), and a revolving credit facility with aggregate commitments of $1,200.0 million (2025 Revolving …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Segment Sales by Product Line ($ in millions) Chlor Alkali Products and Vinyls Caustic soda $ 348.8 $ 435.1 $ 677.3 $ 821.9 Chlorine, chlorine-derivatives and other products 470.7 544.4 899.1 1,082.1 Total Chlor Alkali Products and Vinyls 819.5 979.5 1,576.4 1,904.0 Epoxy Aromatics and allylics 172.3 130.8 316.8 271.8 Epoxy resins and formulated solutions 249.8 200.4 460.9 391.1 Total Epoxy 422.1 331.2 777.7 662.9 Winchester Commercial 192.4 169.7 361.2 325.6 Military and law enforcement (1) 307.9 277.9 609.6 510.0 Total Winchester 500.3 447.6 970.8 835.6 Total sales $ 1,741.9 $ 1,758.3 $ 3,324.9 $ 3,402.5 (1) For the three months ended June 30, 2026 and 2025, revenue recognized over time represented $112.2 million and $94.4 million, respectively, and for the six months ended June 30, 2026 and 2025, revenue recognized over time represented $233.0 million and $152.9 million, respectively, associated with governmental contracts within our Winchester business.

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NOTE 14. STOCK-BASED COMPENSATION Stock-based compensation granted includes stock options, performance share awards, restricted stock awards and deferred directors compensation. Stock-based compensation expense was as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Stock Compensation Expense ($ in millions) Stock-based compensation $ 9.7 $ 9.2 $ 16.9 $ 14.5 Mark-to-market adjustments (5.4) (1.9) (1.1) (5.7) Total expense $ 4.3 $ 7.3 $ 15.8 $ 8.8 Performance Shares Performance share awards are denominated in shares of Olins stock and are paid half in cash and half in stock. All performance share awards vest ratably and are paid out at the end of the three-year performance period, contingent upon the achievement of specified performance conditions. Performance share awards granted during 2026 will have a payout between 0% and 240% based on Olins earnings over the three-year performance cycle, in relation to the earnings targets for such period set by the Compensation Committee of Olins Board of Directors, including a performance multiplier for Olins Total Shareholder Return (TSR) over the applicable three-year performance cycle in relation to the TSR over the same period among a portfolio of public companies which are selected in concert with outside compensation consultants. Performance share awards granted before 2026 will have a payout between 0% and 200% based on two criteria: (1) 50% of the award is based on Olins TSR over the applicable …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE 20. FAIR VALUE MEASUREMENTS Fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties or the amount that would be paid to transfer a liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments complexity. Assets and liabilities recorded at fair value in the condensed balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC 820 Fair Value Measurement (ASC 820), and directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows: Level 1 Inputs were unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 Inputs (other than quoted prices included in Level 1) were either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instruments …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 9. GOODWILL AND INTANGIBLE ASSETS Changes in the carrying value of goodwill were as follows: Chlor Alkali Products and Vinyls Epoxy Winchester Total Goodwill ($ in millions) Balance at January 1, 2025 (1) $ 1,276.4 $ 144.8 $ 2.4 $ 1,423.6 Acquisition activity 2.0 2.0 Foreign currency translation adjustment (0.1) (0.1) Balance at June 30, 2025 (1) $ 1,276.3 $ 144.8 $ 4.4 $ 1,425.5 Balance at January 1, 2026 (1) $ 1,276.3 $ 144.8 $ 6.5 $ 1,427.6 Foreign currency translation adjustment 0.1 0.1 Balance at June 30, 2026 (1) $ 1,276.4 $ 144.8 $ 6.5 $ 1,427.7 (1) Includes cumulative goodwill impairment of $557.6 million and $142.2 million in Chlor Alkali Products and Vinyls and Epoxy, respectively. Intangible assets consisted of the following: June 30, 2026 December 31, 2025 June 30, 2025 Gross Amount Accumulated Amortization Net Gross Amount Accumulated Amortization Net Gross Amount Accumulated Amortization Net Intangible Assets ($ in millions) Customers, customer contracts and relationships $ 521.8 $ (374.3) $ 147.5 $ 524.4 $ (358.4) $ 166.0 $ 677.6 $ (493.7) $ 183.9 Trade names 3.5 (1.4) 2.1 3.5 (1.2) 2.3 3.7 (1.0) 2.7 Acquired technology 11.4 (9.6) 1.8 11.3 (9.4) 1.9 94.8 (94.2) 0.6 Other 4.9 (0.7) 4.2 4.9 (0.7) 4.2 7.2 (0.7) 6.5 Total intangible assets $ 541.6 $ (386.0) $ 155.6 $ 544.1 $ (369.7) $ 174.4 $ 783.3 $ (589.6) $ 193.7 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 12. INCOME TAXES The Companys effective tax rate fluctuates from period to period based on several factors, including the geographic mix of earnings, the level of income or loss relative to available tax attributes, the recognition of valuation allowances in certain jurisdictions, and discrete tax items. For the three months ended June 30, 2026, the Company recorded income before income taxes of $3.8 million and an associated income tax provision of $17.1 million, resulting in an effective tax rate of 450.0%. The income tax provision for the three months ended June 30, 2026 was primarily attributable to the income before income taxes for the period, an expense from prior year tax positions and the impact from a lower estimated annual effective tax rate compared with the prior quarter. For the three months ended June 30, 2025, the Company recorded a loss before income taxes of $(6.8) million and an associated income tax benefit of $(4.0) million, resulting in an effective tax rate of 58.8%. The income tax benefit for the three months ended June 30, 2025 was primarily attributable to a loss before taxes for the period, a release of valuation allowances on domestic state net operating losses and Inflation Reduction Act (IRA) investment tax credits recognized during the period. For the six months ended June 30, 2026, the Company recorded a loss before income taxes of $(114.5) million and an associated income tax benefit of $(18.2) million, resulting in an effective tax rate …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 11. PENSION PLANS AND RETIREMENT BENEFITS We sponsor domestic and foreign defined benefit pension plans for eligible employees and retirees. Most of our domestic employees participate in defined contribution plans. However, a portion of our bargaining hourly employees continue to participate in our domestic qualified defined benefit pension plans under a flat-benefit formula. Our funding policy for the qualified defined benefit pension plans is consistent with the requirements of federal laws and regulations. Our foreign subsidiaries maintain pension and other benefit plans, which are consistent with local statutory practices. Our domestic qualified defined benefit pension plan provides that if, within three years following a change of control of Olin, any corporate action is taken or filing made in contemplation of, among other things, a plan termination or merger or other transfer of assets or liabilities of the plan, and such termination, merger, or transfer thereafter takes place, plan benefits would automatically be increased for affected participants (and retired participants) to absorb any plan surplus (subject to applicable collective bargaining requirements). We also provide certain postretirement healthcare (medical) and life insurance benefits for eligible active and retired domestic employees. The healthcare plans are contributory with participants contributions adjusted annually based on medical rates of inflation and plan experience. Pension Benefits Other …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4. RESTRUCTURING CHARGES Prior restructuring and optimization efforts, which have been previously announced and which we continue to execute on, include: closure of the epoxy resin manufacturing facility in Guaruja, Brazil, announced in fourth quarter 2025; closure of Chlorine 3 manufacturing facility in Freeport, TX announced in December 2024; reduction of epoxy resin capacity at Freeport, TX facility, ceasing of remaining operations at Gumi, South Korea facility and reduction of sales and support staffing across Asia all announced in June 2023; closure of cumene facility in Terneuzen, Netherlands and ceasing of solid epoxy resin production at Gumi, South Korea announced in March 2023; closure of one of our bisphenol production lines at Stade, Germany site announced in 2022; closure of diaphragm-grade chlor alkali capacity of 400,000 tons at McIntosh, AL facility announced in 2021; closure of trichloroethylene and anhydrous hydrogen chloride liquefaction facilities in Freeport, TX announced in 2021; and closure of chlor alkali plant with capacity of 230,000 tons and vinylidene chlorine production facility, both in Freeport, TX announced in 2019. Pretax restructuring charges related to these actions include facility exit costs, lease and other contract termination costs, employee severance and related benefits costs and the write-off of equipment and facilities. The following table summarizes the restructuring activity by component and the remaining balances in accrued r …

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NOTE 16. SEGMENT INFORMATION The chief operating decision maker (CODM) is the individual, or group of individuals, who assess financial performance and determines resource allocation. Management has identified our Chief Executive Officer (CEO) as the CODM. In arriving at this conclusion, we considered that the individual who receives the relevant financial information, which is primarily provided in the form of segment operations reviews, is ultimately our CEO. Further, our CEO assesses the reasonableness of resource allocation, primarily in the form of capital allocation and budgetary analysis, and reviews segment results and resource allocation summaries prepared by segment management, consistent with their view of the business as a whole. We define segment results as income (loss) before interest expense, net, other operating income (expense), non-operating pension income, other income and income taxes, and includes the results of non-consolidated affiliates in segment results consistent with managements monitoring of the operating segments. We have three operating segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The three operating segments reflect the organization used by our management for purposes of allocating resources and assessing performance and represents our reportable segments. Chlorine and caustic soda used in our Epoxy segment is transferred at cost from the Chlor Alkali Products and Vinyls segment. Cost of goods sold at Corporate is primari …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 15. SHAREHOLDERS EQUITY On December 11, 2024, our Board of Directors approved a share repurchase program with a $1.3 billion authorization (2024 Repurchase Authorization). The Board of Directors previously authorized share repurchases with a $2.0 billion authorization on July 28, 2022 (2022 Repurchase Authorization). The 2024 Repurchase Authorization and 2022 Repurchase Authorization will terminate upon the purchase of $1.3 billion and $2.0 billion of common stock, respectively. During the six months ended June 30, 2025, 1.2 million shares of common stock were repurchased and retired at a total value of $30.3 million. As of June 30, 2026, a cumulative total of 27.4 million shares of common stock have been repurchased and retired at a total value of $1,351.1 million under the 2022 Repurchase Authorization program, and $648.9 million of common stock remained authorized to be repurchased under the 2022 Repurchase Authorization program. As of June 30, 2026, there have been no repurchases under the 2024 Repurchase Authorization program and $1.3 billion remained available. We issued 0.2 million and less than 0.1 million shares representing stock options exercised for the six months ended June 30, 2026 and 2025, respectively, with a total value of $3.0 million and $1.9 million, respectively. The following table represents the activity included in accumulated other comprehensive loss: Foreign Currency Translation Cash Flow Hedges Pension and Postretirement Benefits Total Accumul …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing