Albemarle Q2:
Energy Storage net sales for the second quarter of 2023 were $1.8 billion, an increase of $1.0 billion (+120%) due
to higher prices reflecting tight market conditions, primarily in battery- and tech-grade carbonate and hydroxide.
Volume was also higher (+36%) related to the La Negra III/IV expansion in Chile, production from our processing
plant in Qinzhou, China, and higher tolling volumes to meet growing customer demand. Adjusted EBITDA of
$932.0 million increased $448.5 million due to higher prices and volumes.
2023 Energy Storage Outlook
Energy Storage net sales for the full year are estimated to range between $7.9 billion and $8.8 billion, above
previous outlook primarily due to higher lithium market index pricing. Energy Storage volumes are projected to be
at the higher end of the previous range of 30% to 40% in 2023 compared to 2022. Full year realized pricing is
expected to be at the higher end of the previous range of 20% to 30% compared to the prior year, assuming
recent lithium market prices continue through 2023. Adjusted EBITDA is anticipated to range between $3.5 billion
and $3.9 billion, above previous outlook as higher net sales more than offset timing impacts of higher priced
spodumene inventories.