# EDGAR Filing Document

**Accession Number:** 0001307954
**File Stem:** 0001104659-26-016479
**Filing Date:** 2026-2
**Character Count:** 37516
**Document Hash:** 62be66c2c438bbe7b5151435a65f5303
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-016479.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001104659-26-016479

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260217

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Huntsman CORP
- **CENTRAL INDEX KEY:** 0001307954
- **STANDARD INDUSTRIAL CLASSIFICATION:** CHEMICALS & ALLIED PRODUCTS [2800]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 421648585
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32427
- **FILM NUMBER:** 26642236

**BUSINESS ADDRESS:**
- **STREET 1:** 10003 WOODLOCH FOREST DRIVE
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77380
- **BUSINESS PHONE:** (281) 719-6000

**MAIL ADDRESS:**
- **STREET 1:** 10003 WOODLOCH FOREST DRIVE
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77380

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **February 17, 2026**

**Huntsman Corporation**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-32427** | **42-1648585** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

---

| | |
|:---|:---|
| **10003 Woodloch Forest Drive** |  |
| **The Woodlands, Texas** | **77380** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code:

**(281) 719-6000**

**Not applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered pursuant to Section 12(b) of the Act:

---

| | | | |
|:---|:---|:---|:---|
| **Registrant** | **Title of each class** | **Trading <br> Symbol** | **Name of each exchange<br> on which registered** |
| Huntsman Corporation | Common Stock, par value $0.01 per share | HUN | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 2.02. Results of Operations and Financial Condition.**

On February 17, 2026, we issued a press release announcing our results for the three months and year ended December 31, 2025. The press release is furnished herewith as Exhibit 99.1.

We will hold a conference call to discuss our fourth quarter and full year 2025 financial results on Wednesday, February 18, 2026, at 10:00 a.m. ET.

Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=IMeg0PNW

Participant dial-in numbers:

Domestic callers: (877) 402-8037 <br> International callers: (201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.

Information with respect to the conference call, together with a copy of the press release furnished herewith as Exhibit 99.1, is available on the investor relations page of our website at www.huntsman.com/investors.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

---

| | |
|:---|:---|
| **Number** | **Description of Exhibits** |
| [99.1](tm266575d1_ex99-1.htm) | [Press Release dated February 17, 2026, regarding fourth quarter and full year 2025 earnings](tm266575d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| |
|:---|
| HUNTSMAN CORPORATION |
| /s/ IVAN MARCUSE |
| *Vice President, Investor Relations and Corporate Development* |

---

Dated: February 17, 2026

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| **News Release** | ![](tm266575d1_ex99-1img001.jpg) |

---

---

| | |
|:---|:---|
| **FOR IMMEDIATE RELEASE** | **Investor Relations:** |
| February 17, 2026 | Ivan Marcuse |
| The Woodlands, TX | (281) 719-4637 |
| NYSE: HUN |  |

---

**Huntsman Announces Fourth Quarter 2025 Earnings**

**Fourth Quarter Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;**·** Fourth quarter 2025 net loss attributable to Huntsman of $96 million compared
to a net loss of $141 million in the prior year period; fourth quarter 2025 diluted loss per share of $0.56 compared to diluted loss per
share $0.82 in the prior year period.

&nbsp;&nbsp;&nbsp;&nbsp;**·** Fourth quarter 2025 adjusted net loss attributable to Huntsman of $63 million
compared to adjusted net loss of $43 million in the prior year period; fourth quarter 2025 adjusted diluted loss per share of $0.37 compared
to adjusted diluted loss per share of $0.25 in the prior year period.

&nbsp;&nbsp;&nbsp;&nbsp;**·** Fourth quarter 2025 adjusted EBITDA of $35 million compared to $71 million
in the prior year period.

&nbsp;&nbsp;&nbsp;&nbsp;**·** Fourth quarter 2025 net cash provided by operating activities from continuing
operations was $77 million. Free cash flow from continuing operations was $20 million for the fourth quarter 2025 compared to free cash
flow of $108 million in the prior year period.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | **Twelve months ended** | **Twelve months ended** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| <br>In millions, except per share amounts | **2025** | **2024** | **2025** | **2024** |
| Revenues | $1355 | $1452 | $5683 | $6036 |
| Net loss attributable to Huntsman Corporation | $(96) | $(141) | $(284) | $(189) |
| Adjusted net loss<sup>(1)</sup> | $(63) | $(43) | $(121) | $(13) |
| Diluted loss per share | $(0.56) | $(0.82) | $(1.65) | $(1.10) |
| Adjusted diluted loss per share<sup>(1)</sup> | $(0.37) | $(0.25) | $(0.70) | $(0.08) |
| Adjusted EBITDA<sup>(1)</sup> | $35 | $71 | $275 | $414 |
| Net cash provided by operating activities from continuing operations | $77 | $159 | $298 | $285 |
| Free cash flow from continuing operations<sup>(2)</sup> | $20 | $108 | $125 | $101 |

---

*See end of press release for footnote explanations and reconciliations of non-GAAP measures.*

*THE WOODLANDS, Texas* – Huntsman Corporation (NYSE: HUN) today reported fourth quarter 2025 results with revenues of $1,355 million, net loss attributable to Huntsman of $96 million, adjusted net loss attributable to Huntsman of $63 million and adjusted EBITDA of $35 million.

Peter R. Huntsman, Chairman, President, and CEO, commented:

*"During 2025, there was an exceptional amount of work accomplished by the Company in restructuring our business and generating cash despite the depressed level of earnings. We generated close to $300 million of cash flow from operations in 2025 and our 45% full year free cash flow conversion reflects timely, definitive decisions as we recognized the challenging market landscape early in the year. We remain confident that the economic cycle for chemicals will eventually improve in our core markets, though we recognize that meaningful changes may not occur in the immediate term. We are committed to maintaining a disciplined approach, prioritizing cash management, the balance sheet and controlling our fixed costs to ensure the Company is well-positioned when our markets improve."*

**Segment Analysis for 4Q25 Compared to 4Q24**

*Polyurethanes*

The decrease in revenues in our Polyurethanes segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower average selling prices, partially offset by higher sales volumes. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. Sales volumes increased in the Americas and Asia regions. The decrease in segment adjusted EBITDA was primarily due to lower MDI margins.

*Performance Products*

The decrease in revenues in our Performance Products segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower average selling prices. Average selling prices decreased primarily due to competitive pressures. Sales volumes were relatively stable. The decrease in segment adjusted EBITDA was primarily due to lower revenues and an unfavorable impact from reduced inventory, partially offset by lower fixed costs.

*Advanced Materials*

The decrease in revenues in our Advanced Materials segment for the three months ended December 31, 2025 compared to the same period of 2024 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased in our infrastructure coatings and general industry segments due to soft demand. Average selling prices increased primarily due to the positive impact of major foreign currency exchange rate movements against the U.S. dollar. Segment adjusted EBITDA was slightly lower primarily due to decreased sales volumes.

**Liquidity and Capital Resources**

During the three months ended December 31, 2025, our free cash flow from continuing operations was $20 million as compared to $108 million in the same period of 2024. As of December 31, 2025, we had approximately $1.3 billion of combined cash and unused borrowing capacity.

During the three months ended December 31, 2025, we spent $57 million on capital expenditures from continuing operations as compared to $51 million in the same period of 2024. During 2026, we expect similar capital expenditure levels as to the 2025 year.

**Income Taxes**

In the fourth quarter of 2025, our effective tax rate was -1% and our adjusted effective tax rate was -14%.

**Earnings Conference Call Information**

We will hold a conference call to discuss our fourth quarter 2025 financial results on Wednesday, February 18, 2026, at 10:00 a.m. ET.

Webcast link: <u>https://event.choruscall.com/mediaframe/webcast.html?webcastid=IMeg0PNW</u>

Participant dial-in numbers: <br> Domestic callers: (877) 402-8037 <br> International callers: (201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, <u>www.huntsman.com/investors</u>. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.

**Upcoming Conferences**

During the first quarter 2026, a member of management is expected to present at:

Bank of America Securities 2026 Global Agriculture and Materials Conference, February 25, 2026

Alembic Materials and Industrials Conference, March 4-6, 2026

A webcast of the presentation, if applicable, along with accompanying materials will be available at <u>www.huntsman.com/investors</u>.

**Table 1 – Results of Operations**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | **Twelve months ended** | **Twelve months ended** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| <br>In millions, except per share amounts | **2025** | **2024** | **2025** | **2024** |
| **Revenues** | $1355 | $1452 | $5683 | $6036 |
| Cost of goods sold | 1191 | 1264 | 4932 | 5170 |
| **Gross profit** | 164 | 188 | 751 | 866 |
| **Operating expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative | 181 | 166 | 670 | 671 |
| &nbsp;&nbsp;&nbsp;Research and development | 26 | 30 | 120 | 121 |
| &nbsp;&nbsp;&nbsp;Restructuring, impairment and plant closing costs | 11 | 19 | 148 | 39 |
| &nbsp;&nbsp;&nbsp;Income associated with litigation matter, net |  |  | (33) |  |
| &nbsp;&nbsp;&nbsp;Gain on acquisition of assets, net |  |  | (5) | (51) |
| &nbsp;&nbsp;&nbsp;Prepaid asset write-off |  |  |  | 71 |
| &nbsp;&nbsp;&nbsp;Loss on dissolution of subsidiaries |  | 39 |  | 39 |
| &nbsp;&nbsp;&nbsp;Other operating expense (income), net | 5 | (3) | (18) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating expenses** | 223 | 251 | 882 | 891 |
| **Operating loss** | (59) | (63) | (131) | (25) |
| Interest expense, net | (19) | (19) | (79) | (79) |
| Equity in income of investment in unconsolidated affiliates | 4 | 2 | 4 | 44 |
| Other income (expense), net | 1 | (1) | 14 | 21 |
| **Loss from continuing operations before income taxes** | (73) | (81) | (192) | (39) |
| Income tax expense | (1) | (29) | (26) | (61) |
| **Loss from continuing operations** | (74) | (110) | (218) | (100) |
| Loss from discontinued operations, net of tax | (8) | (15) | (9) | (27) |
| **Net loss** | (82) | (125) | (227) | (127) |
| Net income attributable to noncontrolling interests | (14) | (16) | (57) | (62) |
| **Net loss attributable to Huntsman Corporation** | $(96) | $(141) | $(284) | $(189) |
| **Adjusted EBITDA<sup>(1)</sup>** | $35 | $71 | $275 | $414 |
| **Adjusted net loss <sup>(1)</sup>** | $(63) | $(43) | $(121) | $(13) |
| **Basic loss per share** | $(0.56) | $(0.82) | $(1.65) | $(1.10) |
| **Diluted loss per share** | $(0.56) | $(0.82) | $(1.65) | $(1.10) |
| **Adjusted diluted loss per share<sup>(1)</sup>** | $(0.37) | $(0.25) | $(0.70) | $(0.08) |
| **Common share information:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic weighted average shares | 173 | 172 | 173 | 172 |
| &nbsp;&nbsp;&nbsp;Diluted weighted average shares | 173 | 172 | 173 | 172 |
| &nbsp;&nbsp;&nbsp;Diluted shares for adjusted diluted loss per share | 173 | 172 | 173 | 172 |

---

*See end of press release for footnote explanations.*

**Table 2 – Results of Operations by Segment** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | | **Twelve months ended** | **Twelve months ended** | |
| | **December 31,** | **December 31,** | | **December 31,** | **December 31,** | |
| <br>In millions | **2025** | **2024** |<br>**(Worse) /**<br>**better** | **2025** | **2024** |<br>**(Worse) /**<br>**better** |
| **Segment revenues:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Polyurethanes | $897 | $970 | (8)% | $3697 | $3900 | (5)% |
| &nbsp;&nbsp;&nbsp;Performance Products | 224 | 239 | (6)% | 997 | 1109 | (10)% |
| &nbsp;&nbsp;&nbsp;Advanced Materials | 243 | 254 | (4)% | 1021 | 1055 | (3)% |
| &nbsp;&nbsp;&nbsp;**Total reportable segments' revenues** | 1364 | 1463 | (7)% | 5715 | 6064 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intersegment eliminations | (9) | (11) | n/m | (32) | (28) | n/m |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | $1355 | $1452 | (7)% | $5683 | $6036 | (6)% |
| **Segment adjusted EBITDA<sup>(1)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Polyurethanes | $25 | $50 | (50)% | $146 | $245 | (40)% |
| &nbsp;&nbsp;&nbsp;Performance Products | 16 | 23 | (30)% | 107 | 153 | (30)% |
| &nbsp;&nbsp;&nbsp;Advanced Materials | 36 | 37 | (3)% | 161 | 179 | (10)% |

---

*n/m = not meaningful*

See end of press release for footnote explanations.

**Table 3 – Factors Impacting Sales Revenue**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** |
|  | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** |
|  | **Average selling price<sup>(a)</sup>** | **Average selling price<sup>(a)</sup>** | | |
|  | **Local**<br>**currency & mix** | **Exchange**<br>**rate** |<br>**Sales**<br>**volume<sup>(b)</sup>** |<br>**Total** |
| Polyurethanes | (11)% | 1% | 2% | (8)% |
| Performance Products | (6)% | 1% | (1)% | (6)% |
| Advanced Materials | 1% | 2% | (7)% | (4)% |
| **Combined segments** | **(8)%** | **1%** | **0%** | **(7)%** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** |
|  | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** | **December 31, 2025 vs. 2024** |
|  | **Average selling price<sup>(a)</sup>** | **Average selling price<sup>(a)</sup>** | | | |
|  | **Local**<br>**currency & mix** | **Exchange**<br>**rate** |<br>**Sales**<br>**volume<sup>(b)</sup>** | **Total** | **Total** |
| Polyurethanes | (7)% | 0% | 2% |  | (5)% |
| Performance Products | (1)% | 0% | (9)% |  | (10)% |
| Advanced Materials | (2)% | 1% | (2)% |  | (3)% |
| **Combined segments** | **(5)%** | **0%** | **(1)%** |  | **(6)%** |
| *(a) Excludes sales from tolling arrangements, by-products and raw materials.* | *(a) Excludes sales from tolling arrangements, by-products and raw materials.* | *(a) Excludes sales from tolling arrangements, by-products and raw materials.* | *(a) Excludes sales from tolling arrangements, by-products and raw materials.* | *(a) Excludes sales from tolling arrangements, by-products and raw materials.* |  |
| *(b) Excludes sales from by-products and raw materials.* | *(b) Excludes sales from by-products and raw materials.* | *(b) Excludes sales from by-products and raw materials.* | *(b) Excludes sales from by-products and raw materials.* | *(b) Excludes sales from by-products and raw materials.* |  |

---

**Table 4 – Reconciliation of U.S. GAAP to Non-GAAP Measures**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Income tax** | **Income tax** | **Net** | **Net** | **Diluted (loss) income** | **Diluted (loss) income** |
| | **EBITDA** | **EBITDA** | **and other expense** | **and other expense** | **loss** | **loss** | **per share** | **per share** |
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| <br>In millions, except per share amounts | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
| **Net loss** | $(82) | $(125) |  |  | $(82) | $(125) | $(0.48) | $(0.73) |
| &nbsp;&nbsp;&nbsp;Net income attributable to noncontrolling interests | (14) | (16) |  |  | (14) | (16) | (0.08) | (0.09) |
| **Net loss attributable to Huntsman Corporation** | (96) | (141) |  |  | (96) | (141) | (0.56) | (0.82) |
| &nbsp;&nbsp;&nbsp;Interest expense, net from continuing operations | 19 | 19 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Income tax expense from continuing operations | 1 | 29 | $(1) | $(29) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Income tax benefit from discontinued operations | (1) | (3) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization from continuing operations | 73 | 75 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Business acquisition and integration expenses and purchase accounting inventory adjustments, net | 1 |  |  | (1) | 1 | (1) | 0.01 | (0.01) |
| &nbsp;&nbsp;&nbsp;EBITDA / Loss from discontinued operations | 9 | 18 | N/A | N/A | 8 | 15 | 0.05 | 0.09 |
| &nbsp;&nbsp;&nbsp;Establishment of significant deferred tax asset valuation allowances, net |  |  |  | 23 |  | 23 |  | 0.13 |
| &nbsp;&nbsp;&nbsp;Loss on sale of business/assets | 3 |  | (1) | (3) | 2 | (3) | 0.01 | (0.02) |
| &nbsp;&nbsp;&nbsp;Loss on dissolution of subsidiaries |  | 39 |  |  |  | 39 |  | 0.23 |
| &nbsp;&nbsp;&nbsp;Fair value adjustments to Venator investment, net and other tax matter adjustments |  |  |  | 1 |  | 1 |  | 0.01 |
| &nbsp;&nbsp;&nbsp;Certain legal and other settlements and related expenses, net | 2 |  |  | (4) | 2 | (4) | 0.01 | (0.02) |
| &nbsp;&nbsp;&nbsp;Amortization of pension and postretirement actuarial losses | 12 | 14 |  | (4) | 12 | 10 | 0.07 | 0.06 |
| &nbsp;&nbsp;&nbsp;Restructuring, impairment and plant closing and transition costs | 12 | 21 | (4) | (3) | 8 | 18 | 0.05 | 0.10 |
| **Adjusted<sup>(1)</sup>** | $35 | $71 | $(6) | $(20) | (63) | (43) | $(0.37) | $(0.25) |
| Adjusted income tax expense<sup>(1)</sup> |  |  |  |  | 6 | 20 |  |  |
| Net income attributable to noncontrolling interests |  |  |  |  | 14 | 16 |  |  |
| **Adjusted pre-tax loss <sup>(1)</sup>** |  |  |  |  | $(43) | $(7) |  |  |
| **Adjusted effective tax rate<sup>(3)</sup>** |  |  |  |  | (14)% | N/M |  |  |
| **Effective tax rate** |  |  |  |  | (1)% | (36)% |  |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Income tax** | **Income tax** | **Net** | **Net** | **Diluted (loss) income** | **Diluted (loss) income** |
| | **EBITDA** | **EBITDA** | **and other expense** | **and other expense** | **loss** | **loss** | **per share** | **per share** |
| | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** | **Twelve months ended** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| <br>In millions, except per share amounts | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
| **Net loss** | $(227) | $(127) |  |  | $(227) | $(127) | $(1.32) | $(0.74) |
| &nbsp;&nbsp;Net income attributable to noncontrolling interests | (57) | (62) |  |  | (57) | (62) | (0.33) | (0.36) |
| **Net loss attributable to Huntsman Corporation** | (284) | (189) |  |  | (284) | (189) | (1.65) | (1.10) |
| &nbsp;&nbsp;Interest expense, net from continuing operations | 79 | 79 |  |  |  |  |  |  |
| &nbsp;&nbsp;Income tax expense from continuing operations | 26 | 61 | $(26) | $(61) |  |  |  |  |
| &nbsp;&nbsp;Income tax benefit from discontinued operations<sup>(3)</sup> |  | (11) |  |  |  |  |  |  |
| &nbsp;&nbsp;Depreciation and amortization from continuing operations | 287 | 289 |  |  |  |  |  |  |
| &nbsp;&nbsp;Business acquisition and integration (gain) expenses and purchase accounting inventory adjustments | (4) | 21 |  | (17) | (4) | 4 | (0.02) | 0.02 |
| &nbsp;&nbsp;EBITDA / Loss from discontinued operations<sup>(3)</sup> | 9 | 38 | N/A | N/A | 9 | 27 | 0.05 | 0.16 |
| &nbsp;&nbsp;Establishment of significant deferred tax asset valuation allowances, net |  |  | 1 | 23 | 1 | 23 | 0.01 | 0.13 |
| &nbsp;&nbsp;Income tax settlement related to U.S. Tax Reform Act |  |  |  | 5 |  | 5 |  | 0.03 |
| &nbsp;&nbsp;Loss on sale of business/assets | 5 | 1 | (1) |  | 4 | 1 | 0.02 | 0.01 |
| &nbsp;&nbsp;Loss on dissolution of subsidiaries |  | 39 |  |  |  | 39 |  | 0.23 |
| &nbsp;&nbsp;Fair value adjustments to Venator investment, net and other tax matter adjustments |  | (12) |  | 3 |  | (9) |  | (0.05) |
| &nbsp;&nbsp;Certain legal and other settlements and related (income) expenses, net | (30) | 13 | 7 | (3) | (23) | 10 | (0.13) | 0.06 |
| &nbsp;&nbsp;Amortization of pension and postretirement actuarial losses | 34 | 39 | (4) | (3) | 30 | 36 | 0.17 | 0.21 |
| &nbsp;&nbsp;Restructuring, impairment and plant closing and transition costs | 153 | 46 | (7) | (6) | 146 | 40 | 0.85 | 0.23 |
| **Adjusted<sup>(1)</sup>** | $275 | $414 | $(30) | $(59) | (121) | (13) | $(0.70) | $(0.08) |
| Adjusted income tax expense<sup>(1)</sup> |  |  |  |  | 30 | 59 |  |  |
| Net income attributable to noncontrolling interests |  |  |  |  | 57 | 62 |  |  |
| **Adjusted pre-tax (loss) income<sup>(1)</sup>** |  |  |  |  | $(34) | $108 |  |  |
| **Adjusted effective tax rate<sup>(4)</sup>** |  |  |  |  | (88)% | 55% |  |  |
| **Effective tax rate** |  |  |  |  | (14)% | (156)% |  |  |
| *N/M = not meaningful* |  |  |  |  |  |  |  |  |
| *N/A = not applicable* |  |  |  |  |  |  |  |  |
| *See end of press release for footnote explanations.* |  |  |  |  |  |  |  |  |

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**Table 5 – Balance Sheets** 

---

| | | |
|:---|:---|:---|
| <br>In millions | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Cash | $429 | $340 |
| Accounts and notes receivable, net | 677 | 725 |
| Inventories | 818 | 917 |
| Prepaid expenses | 94 | 114 |
| Other current assets | 46 | 29 |
| Property, plant and equipment, net | 2486 | 2493 |
| Other noncurrent assets | 2465 | 2496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $7015 | $7114 |
| Accounts payable | $721 | $770 |
| Other current liabilities | 515 | 470 |
| Current portion of debt | 353 | 325 |
| Long-term debt | 1658 | 1510 |
| Other noncurrent liabilities | 811 | 876 |
| Huntsman Corporation stockholders' equity | 2750 | 2959 |
| Noncontrolling interests in subsidiaries | 207 | 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and equity** | $7015 | $7114 |

---

**Table 6 – Outstanding Debt**

---

| | | |
|:---|:---|:---|
| <br>In millions | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| **Debt:** |  |  |
| &nbsp;&nbsp;&nbsp;Revolving credit facility | $343 | $- |
| &nbsp;&nbsp;&nbsp;Senior notes | 1488 | 1799 |
| &nbsp;&nbsp;&nbsp;Accounts receivable programs | 152 |  |
| &nbsp;&nbsp;&nbsp;Variable interest entities | 7 | 16 |
| &nbsp;&nbsp;&nbsp;Other debt | 21 | 20 |
| **Total debt - excluding affiliates** | 2011 | 1835 |
| Total cash | 429 | 340 |
| **Net debt - excluding affiliates<sup>(4)</sup>** | $1582 | $1495 |
| See end of press release for footnote explanations. |  |  |

---

**Table 7 – Summarized Statements of Cash Flows**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | **Twelve months ended** | **Twelve months ended** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| <br>In millions | **2025** | **2024** | **2025** | **2024** |
| **Total cash at beginning of period** | $468 | $330 | $340 | $540 |
| &nbsp;&nbsp;&nbsp;Net cash provided by operating activities from continuing operations | 77 | 159 | 298 | 285 |
| &nbsp;&nbsp;&nbsp;Net cash used in operating activities from discontinued operations | (1) | (6) | (9) | (22) |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | (58) | (39) | (132) | (126) |
| &nbsp;&nbsp;&nbsp;Net cash used in financing activities | (62) | (95) | (76) | (326) |
| &nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash | 5 | (9) | 8 | (11) |
| **Total cash at end of period** | $429 | $340 | $429 | $340 |
| **Free cash flow from continuing operations<sup>(2)</sup>:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net cash provided by operating activities from continuing operations | $77 | $159 | $298 | $285 |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (57) | (51) | (173) | (184) |
| **Free cash flow from continuing operations<sup>(2)</sup>** | $20 | $108 | $125 | $101 |
| **Supplemental cash flow information:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $(37) | $(22) | $(86) | $(77) |
| &nbsp;&nbsp;&nbsp;Cash paid for income taxes | (19) | (30) | (98) | (90) |
| &nbsp;&nbsp;&nbsp;Cash paid for restructuring and integration | (11) | (3) | (29) | (29) |
| &nbsp;&nbsp;&nbsp;Cash paid for pensions | (8) | (9) | (33) | (35) |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization from continuing operations | 73 | 75 | 287 | 289 |
| &nbsp;&nbsp;&nbsp;Change in primary working capital: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts and notes receivable | $97 | $79 | $71 | $7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 19 | 60 | 133 | (77) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 15 | 48 | (88) | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total change in primary working capital | $131 | $187 | $116 | $(1) |
| See end of press release for footnote explanations. |  |  |  |  |

---

**Footnotes**

(1) We use adjusted EBITDA to measure the operating performance of our business and for planning and evaluating the performance of our
business segments. We provide adjusted net income (loss) because we feel it provides meaningful insight for the investment community into
the performance of our business. We believe that net income (loss) is the performance measure calculated and presented in accordance with
generally accepted accounting principles in the U.S. ("GAAP") that is most directly comparable to adjusted EBITDA and adjusted
net income (loss). Additional information with respect to our use of each of these financial measures follows:

Adjusted EBITDA, adjusted net income (loss) and adjusted diluted income (loss) per share, as used herein, are not necessarily comparable to other similarly titled measures of other companies.

Adjusted EBITDA is computed by eliminating the following from net income (loss): (a) net income attributable to noncontrolling interests; (b) interest expense, net; (c) income taxes; (d) depreciation and amortization; (e) amortization of pension and postretirement actuarial losses; (f) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted EBITDA in Table 4 above.

Adjusted net income (loss) and adjusted diluted income (loss) per share are computed by eliminating the after tax impact of the following items from net income (loss): (a) net income attributable to noncontrolling interests; (b) amortization of pension and postretirement actuarial losses; (c) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted net income (loss) in Table 4 above. The income tax impacts, if any, of each adjusting item represent a ratable allocation of the total difference between the unadjusted tax expense and the total adjusted tax expense, computed without consideration of any adjusting items using a with and without approach.

We may disclose forward-looking adjusted EBITDA because we cannot adequately forecast certain items and events that may or may not impact us in the near future, such as business acquisition and integration expenses and purchase accounting inventory adjustments, net, certain legal and other settlements and related expenses, gains on sale of businesses/assets and certain tax only items, including tax law changes not yet enacted. Each of such adjustment has not yet occurred, is out of our control and/or cannot be reasonably predicted. In our view, our forward-looking adjusted EBITDA represents the forecast net income on our underlying business operations but does not reflect any adjustments related to the items noted above that may occur and can cause our adjusted EBITDA to differ.

(2) We believe free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate. Management internally
uses free cash flow measure to: (a) evaluate our liquidity, (b) evaluate strategic investments, (c) plan stock buyback
and dividend levels and (d) evaluate our ability to incur and service debt. Free cash flow is defined as net cash provided by (used
in) operating activities less capital expenditures. Free cash flow is not a defined term under U.S. GAAP, and it should not be inferred
that the entire free cash flow amount is available for discretionary expenditures.

(3) We believe the adjusted effective tax rate provides improved
comparability between periods through the exclusion of certain items that management believes are not indicative of the businesses'
operational profitability and that may obscure underlying business results and trends. In our view, effective tax rate is the performance
measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted effective tax rate. The reconciliation
of historical adjusted effective tax rate and effective tax rate is set forth in Table 4 above. Please see the reconciliation of our
net income to adjusted net income in Table 4 for details regarding the tax impacts of our non-GAAP adjustments.

(4) Net debt is a measure we use to monitor how much debt we have
after taking into account our total cash. We use it as an indicator of our overall financial position, and calculate it by taking our
total debt, including the current portion, and subtracting total cash.

**About Huntsman:**

*Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2025 revenues of approximately $6 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 55 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at <u>www.huntsman.com</u>.*

**Social Media:**

*X: <u>http://www.x.com/Huntsman_Corp</u><br> Facebook: <u>www.facebook.com/huntsmancorp</u><br> LinkedIn: <u>www.linkedin.com/company/huntsman</u>*

**Forward-Looking Statements:**

*This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, high energy costs in Europe, inflation and high capital costs, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.*