# EDGAR Filing Document

**Accession Number:** 0001096056
**File Stem:** 0001096056-23-000005
**Filing Date:** 2023-2
**Character Count:** 31818
**Document Hash:** 0be8c617735ee855159c58ec0ccd8a04
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001096056-23-000005.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001096056-23-000005

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230228

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LUXFER HOLDINGS PLC
- **CENTRAL INDEX KEY:** 0001096056
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INORGANIC CHEMICALS [2810]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35370
- **FILM NUMBER:** 23686212

**BUSINESS ADDRESS:**
- **STREET 1:** LUMNS LANE
- **CITY:** MANCHESTER
- **STATE:** X0
- **ZIP:** M27 8LN
- **BUSINESS PHONE:** 44161300-0600

**MAIL ADDRESS:**
- **STREET 1:** LUMNS LANE
- **CITY:** MANCHESTER
- **STATE:** X0
- **ZIP:** M27 8LN

?xml version="1.0" ? lxfr-20230228

**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 28, 2023

**Luxfer Holdings PLC**

**(Exact Name of Registrant as Specified in Charter)** 

---

| | | |
|:---|:---|:---|
| **<u>England and Wales</u>** |  **<u>001-35370</u>** | **<u>98-1024030</u>** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission<br>File Number) | (I.R.S. Employer<br>Identification No.) |

---

**<u>8989 North Port Washington Road, Suite 211,</u>**

**<u>Milwaukee, WI, 53217</u>**

(Address of principal executive offices) (Zip Code)

Registrant's Telephone Number, Including Area Code: +1 414-269-2419

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Ordinary Shares, nominal value £0.50 each | LXFR | New York Stock Exchange |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

☐ 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.

------

**Section 8&nbsp;&nbsp;&nbsp;&nbsp;Other Events**

**Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;Other Events**

On February 28, 2023, Luxfer Holdings PLC (the "Company") issued a press release announcing its earnings for the fourth quarter and year-ended 2022 and a conference call in connection therewith.

A copy of the release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

**Section 9&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

**&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press Release dated February 28, 2023](q422pressrelease.htm)</u>

------

**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, thereunto duly authorized.

**Luxfer Holdings PLC**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)

Date: February 28, 2023

By: <u>/s/ Megan Glise&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp; Megan Glise

Authorized Signatory for and on behalf of

Luxfer Holdings PLC

## Exhibit 99.1

**Luxfer Announces Fourth Quarter and Full Year 2022 Financial Results**

**Fourth Quarter 2022 Highlights** (all historical comparisons year-over-year; results exclude discontinued operations)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $116.7 million increased $18.0 million or 18.2%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted EPS from continuing operations of $0.23 increased $0.10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted diluted EPS of $0.31 increased $0.03

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $14.0 million decreased $0.6 million or 4.1%

**Full Year 2022 Highlights** (all historical comparisons year-over-year; results exclude discontinued operations)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $423.4 million increased $49.3 million or 13.2%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted EPS from continuing operations of $1.16 increased $0.09

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted diluted EPS of $1.36 increased $0.07

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $63.1 million decreased $0.3 million or 0.5%

**MILWAUKEE, WI, February 28, 2023 -- Business Wire -- Luxfer Holdings PLC (NYSE: LXFR) ("Luxfer" or the "Company"),** a global industrial company innovating niche applications in materials engineering, today announced financial results for the fourth quarter and full year 2022, ended December 31, 2022.

**Fourth Quarter 2022 Consolidated Results** 

Net sales of $116.7 million increased $18.0 million from $98.7 million in the prior year period, including a $13.0 million benefit from cost pass-through to cover rising material inflation and a $9.0 million positive contribution from volume and mix, partially offset by a foreign exchange impact of $4.0 million.

GAAP net income from continuing operations increased to $6.2 million, or $0.23 per diluted share, compared to $3.5 million, or $0.13 per diluted share, in the prior year period.

Adjusted net income measured $8.5 million, or $0.31 per diluted share, compared to $7.9 million, or $0.28 per diluted share, in the prior year period. Adjusted EBITDA of $14.0 million decreased $0.6 million, or 4.1%, from $14.6 million in the prior year period. Foreign exchange reduced net sales by $4.0 million but contributed $0.5 million to Adjusted EBITDA. Supply chain constraints continued to limit volumes in some areas and inflationary pressures impacted costs.

"Our fourth quarter capped a year of strong execution by our team, successfully navigating supply chain disruption and passing through unprecedented levels of cost inflation," said Andy Butcher, Chief Executive Officer. "Both Gas Cylinders and Elektron realized the largest sales volume increases of the year during the fourth quarter, complemented by an excellent free cash flow result. We are especially pleased with our revenue performance which increases visibility on long-term growth, while remaining conscious of short-term weakness in certain industrial and consumer markets."

**Full Year 2022 Consolidated Results** 

Net sales of $423.4 million increased $49.3 million from $371.4 million in the prior year, including a $48.7 million benefit from cost pass-through to cover rising material inflation, a $7.4 million positive contribution from volume and mix, and a $7.1 million benefit from the SCI acquisition, partially offset by a foreign exchange impact of $13.9 million.

GAAP net income from continuing operations increased to $32.0 million, or $1.16 per diluted share, compared to $30.0 million, or $1.07 per diluted share, in the prior year.

Adjusted net income measured $37.4 million, or $1.36 per diluted share, compared to $36.2 million, or $1.29 per diluted share, in the prior year. Adjusted EBITDA of $63.1 million decreased $0.3 million, or 0.5%, from $63.4 million in the prior year. Foreign exchange reduced reported net sales by $13.9 million but contributed $1.7 million to Adjusted EBITDA.

**Fourth Quarter 2022 Segment Results** (all historical comparisons year-over-year; results exclude discontinued operations)

*<u>Elektron Segment</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $64.9 million increased $16.2 million, or 33.3%, from $48.7 million, driven by favorable price impact to address material inflation as well as volume/mix

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $11.0 million increased $2.4 million, or 27.9%, from $8.6 million

------

*<u>Gas Cylinders Segment</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $51.8 million increased $1.8 million, or 3.6%, from $50.0 million, with increased volume/mix and cost pass-through partially offset by foreign exchange headwinds of $2.8 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $3.0 million decreased $3.0 million, or 50.0%, from $6.0 million due to material inflation

**Capital Resources and Liquidity**

Free cash flow measured $15.9 million in the fourth quarter and $7.5 million for the full year 2022, compared to $16.9 million for the full year 2021. During the quarter, the Company made $0.3 million in cash restructuring payments. The Company also paid $3.6 million in dividends, or $0.13 per ordinary share, and returned $4.2 million to shareholders in the form of share repurchases during the quarter.

On December 31, 2022, net debt totaled $68.6 million, resulting in a net debt to EBITDA ratio of 1.1x.

**2023 Guidance**

Based on the current outlook for our end markets and supply chain conditions, as well as anticipated increases in legal, interest, and tax expense, Luxfer currently expects full year 2023 revenue growth of 6% to 10% and adjusted diluted earnings per share of $1.15 to $1.35.

Pursuing a strategy of profitable growth, as well as margin improvement, Luxfer's goal remains to deliver adjusted diluted earnings per share of $2.00+ in 2025.

**Conference Call Information**

Luxfer management will host a conference call at 8:30 a.m. U.S. Eastern Standard Time (EST) on Wednesday, March 1, 2023 to review the Company's quarterly results. The conference call can be accessed by dialing (800) 579-2543 or (203) 518-9708 for participants outside the U.S., using the conference ID code LXFRQ422. The live webcast of Luxfer's earnings conference call can be accessed at the following link: https://event.on24.com/wcc/r/4105535/E442EED5DEC3E165DD1494EFA81FD481.

A replay of the webcast and slides used in the presentation will be available in the Investor Relations section of the Luxfer website under Quarterly Reports and Presentations within two hours of call completion. A recording of the conference call will be available for replay two hours after the completion of the call and will remain accessible through March 15, 2023 at midnight EDT. To access the recording, please dial (800) 839-9886 or (402) 220-2191 for participants outside the U.S.

**Non-GAAP Financial Measures**

Luxfer Holdings PLC prepares its financial statements using U.S. Generally Accepted Accounting Principles (GAAP). When a company discloses material information containing non-GAAP financial measures, SEC regulations require that the disclosure include a presentation of the most directly comparable GAAP measure and a reconciliation of the GAAP and non-GAAP financial measures. Management's inclusion of non-GAAP financial measures in this release is intended to supplement, not replace, the presentation of the financial results in accordance with GAAP. Luxfer management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any period. Management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company's business trends and understand the Company's performance. In addition, management may utilize non-GAAP financial measures as a guide in the Company's forecasting, budgeting, and long-term planning process. Non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures presented in accordance with GAAP.

**Forward-Looking Statements**

This release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Examples of such forward-looking statements include but are not limited to: (i) statements regarding the Company's results of operations and financial condition; (ii) statements of plans, objectives or goals of the Company or its management, including those related to financing, products, or services; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as "believes," "anticipates," "expects," "intends," "forecasts," and "plans," and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections, and other forward-looking statements will not be achieved. The Company cautions that several important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates, and intentions expressed in such forward-looking statements. These factors include but are not limited to: (i) lower than expected future sales;

------

(ii) increasing competitive industry pressures; (iii) general economic conditions or conditions affecting demand for the products and services it offers, both domestically and internationally, including as a result of post-Brexit regulation, being less favorable than expected; (iv) worldwide economic and business conditions and conditions in the industries in which the Company operates; (v) fluctuations in the cost of raw materials, utilities, and other inputs; (vi) currency fluctuations and hedging risks; (vii) the Company's ability to protect its intellectual property; (viii) the significant amount of indebtedness the Company has incurred and may incur and the obligations to service such indebtedness and to comply with the covenants contained therein; and (ix) risks related to the impact of the global COVID-19 pandemic, such as the scope and duration of the outbreak, government actions, and restrictive measures implemented in response thereto, supply chain disruptions and other impacts to the business, and the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic. The Company cautions that the foregoing list of important factors is not exhaustive. These factors are more fully discussed in the sections entitled "Forward-Looking Statements" and "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the U.S. Securities and Exchange Commission on February 24, 2022. When relying on forward-looking statements to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and events. Forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update or revise any such statement, whether because of new information, future events, or otherwise.

**About Luxfer Holdings PLC**

Luxfer is a global industrial company innovating niche applications in materials engineering. Using its broad array of proprietary technologies, Luxfer focuses on value creation, customer satisfaction, and demanding applications where technical know-how and manufacturing expertise combine to deliver a superior product. Luxfer's high-performance materials, components, and high-pressure gas containment devices are used in defense and emergency response, clean energy, healthcare, transportation, and general industrial applications. For more information, please visit www.luxfer.com.

Luxfer is listed on the New York Stock Exchange and its ordinary shares trade under the symbol LXFR.

**Contact Information**

Michael Gaiden

Vice President of Investor Relations and Business Development

(414) 982-1663

Michael.Gaiden@Luxfer.com

------

**LUXFER HOLDINGS PLC**

**CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Years ended** | **Years ended** |
|<br>*In millions, except share and per-share data* | **2022** | **2021** | **2022** | **2021** |
| Net sales | $**116.7** | $98.7 | $**423.4** | $374.1 |
| Cost of sales | **(94.8)** | (74.9) | **(328.4)** | (278.1) |
| **Gross profit** | **21.9** | 23.8 | **95.0** | 96.0 |
| Selling, general and administrative expenses | **(10.6)** | (13.4) | **(43.1)** | (47.3) |
| Research and development | **(1.4)** | (1.0) | **(4.9)** | (3.9) |
| Restructuring charges | **0.1** | (4.1) | **(1.9)** | (6.2) |
| Acquisitions and disposals costs | **—** |  | **(0.3)** | (1.5) |
| Other income | **—** | 0.2 | **—** | 0.2 |
| Other charges | **—** |  | **—** | (1.1) |
| **Operating income** | **10.0** | 5.5 | **44.8** | 36.2 |
| Interest expense | **(1.2)** | (0.7) | **(3.9)** | (3.1) |
| Defined benefit pension credit | **(0.8)** | 0.5 | **0.1** | 2.3 |
| **Income before income taxes and equity in net income of affiliates** | **8.0** | 5.3 | **41.0** | 35.4 |
| Provision for income taxes | **(1.8)** | (1.8) | **(9.0)** | (5.4) |
| **Net income from continuing operations** | **6.2** | 3.5 | **32.0** | 30.0 |
| Net gain on disposition of discontinued operations | **—** |  | **—** | 6.6 |
| Net loss from discontinued operations | **(4.2)** | (3.9) | **(5.1)** | (6.7) |
| **Net income** | $**2.0** | $(0.4) | $**26.9** | $29.9 |
| **Earnings / (loss) per share(1)** |  |  |  |  |
| Basic from continuing operations | **0.23** | 0.13 | **1.17** | 1.08 |
| Basic from discontinued operations | **(0.16)** | (0.14) | **(0.19)** |  |
| **Basic** | $**0.07** | $(0.01) | $**0.99** | $1.08 |
| Diluted from continuing operations | **0.23** | 0.13 | **1.16** | 1.07 |
| Diluted from discontinued operations | **(0.15)** | (0.14) | **(0.19)** |  |
| **Diluted** | $**0.07** | $(0.01) | $**0.98** | $1.07 |
| **Weighted average ordinary shares outstanding** |  |  |  |  |
| Basic | **27030516** | 27644105 | **27304847** | 27698691 |
| Diluted | **27482347** | 27929690 | **27541202** | 28032506 |

---

<sup>(1)</sup> *Th*e calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total.

------

**LUXFER HOLDINGS PLC**

**CONSOLIDATED BALANCE SHEETS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>*In millions, except share and per-share data* | **2022** | **2021** |
| **Current assets** |  |  |
| Cash and cash equivalents | $**12.6** | $6.2 |
| Restricted cash | **0.3** | 0.2 |
| Accounts and other receivables, net of allowances of $0.4 and $0.8, respectively | **67.8** | 57.8 |
| Inventories | **111.1** | 90.5 |
| Current assets held-for-sale | **9.3** | 8.5 |
| **Total current assets** | **201.1** | 163.2 |
| **Non-current assets** |  |  |
| Property, plant and equipment, net | **77.7** | 87.5 |
| Right-of-use assets from operating leases | **19.8** | 12.6 |
| Goodwill | **65.6** | 69.7 |
| Intangibles, net | **12.5** | 13.7 |
| Deferred tax assets | **3.0** | 8.0 |
| Pensions and other retirement benefits | **27.0** | 13.7 |
| Investments and loans to joint ventures and other affiliates | **0.4** | 0.4 |
| **Total assets** | $**407.1** | $368.8 |
| **Current liabilities** |  |  |
| Current maturities of long-term debt and short-term borrowings | $**25.0** | $— |
| Accounts payable | **37.8** | 31.7 |
| Accrued liabilities | **29.4** | 28.2 |
| Taxes on income | **1.8** | 3.0 |
| Current liabilities held-for-sale | **5.0** | 1.4 |
| Other current liabilities | **11.2** | 19.6 |
| **Total current liabilities** | **110.2** | 83.9 |
| **Non-current liabilities** |  |  |
| Long-term debt | **56.2** | 59.6 |
| Pensions and other retirement benefits | **4.5** | 1.9 |
| Deferred tax liabilities | **9.9** | 2.7 |
| Other non-current liabilities | **19.0** | 11.6 |
| **Total liabilities** | $**199.8** | $159.7 |
| Commitments and contingencies |  |  |
| **Shareholders' equity** |  |  |
| Ordinary shares of £0.50 par value; authorized 40,000,000 shares for 2022 and 2021; issued and outstanding 28,944,000 shares for 2022 and 2021 | $**26.5** | $26.5 |
| Deferred shares of £0.0001 par value; authorized, issued and outstanding 761,835,318,444 shares for 2021 | **—** | 149.9 |
| Additional paid-in capital | **221.4** | 70.9 |
| Treasury shares | **(20.4)** | (9.6) |
| Company shares held by ESOP | **(1.0)** | (1.1) |
| Retained earnings | **120.2** | 107.5 |
| Accumulated other comprehensive loss | **(139.4)** | (135.0) |
| **Total shareholders' equity** | $**207.3** | $209.1 |
| **Total liabilities and shareholders' equity** | $**407.1** | $368.8 |

---

------

**LUXFER HOLDINGS PLC**

**CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **Years Ended December 31,** | **Years Ended December 31,** |
|<br>*In millions* | **2022** | **2021** |
| **Operating activities** |  |  |
| Net income | $**26.9** | $29.9 |
| Net loss from discontinued operations | **5.1** | 0.1 |
| Net income from continuing operations | **32.0** | 30.0 |
| *Adjustments to reconcile net income from continuing operations to net cash provided by operating activities* | *Adjustments to reconcile net income from continuing operations to net cash provided by operating activities* | *Adjustments to reconcile net income from continuing operations to net cash provided by operating activities* |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | **12.9** | 14.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of purchased intangible assets | **0.7** | 0.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance costs | **0.5** | 0.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation charge | **2.5** | 2.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | **8.7** | (1.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of business | **1.0** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension expense / (credit) | **0.1** | (1.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension contributions | **(0.4)** | (18.2) |
| *Changes in assets and liabilities, net of effects of business acquisitions* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts and notes receivable | **(27.2)** | (9.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | **(25.0)** | (15.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Current assets held-for-sale | **(3.3)** | (2.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current assets | **—** | 1.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | **21.3** | 11.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | **2.4** | 7.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current liabilities held-for-sale | **0.9** | (1.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | **(8.8)** | 8.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets and liabilities | **(2.5)** |  |
| Net cash provided by operating activities - continuing | **15.8** | 26.0 |
| Net cash provided by operating activities - discontinued | **0.1** | 0.1 |
| **Net cash provided by operating activities** | **15.9** | **26.1** |
| **Investing activities** |  |  |
| Capital expenditures | **(8.3)** | (9.1) |
| Proceeds from sale of property, plant and equipment | **3.7** |  |
| Proceeds from sale of businesses | **—** | 23.4 |
| Settlements from sale of businesses | **(1.0)** |  |
| Acquisitions, net of cash acquired | **—** | (19.3) |
| Net cash used for investing activities - continuing | **(5.6)** | (5.0) |
| Net cash used for investing activities - discontinued | **(0.1)** | (0.1) |
| **Net cash used for investing activities** | **(5.7)** | **(5.1)** |
| **Financing activities** |  |  |
| Net drawdowns / (repayments) of long-term borrowings | **24.8** | 6.4 |
| Debt issuance costs | **—** | (1.0) |
| Dividends paid | **(14.2)** | (13.6) |
| Share-based compensation cash paid | **(1.4)** | (1.5) |
| Repurchase of deferred shares | **(0.1)** |  |
| Repurchase of ordinary shares | **(11.1)** | (6.4) |
| **Net cash used for financing activities** | **(2.0)** | **(16.1)** |
| Effect of exchange rate changes on cash and cash equivalents | **(1.7)** | **—** |
| **Net increase / (decrease)** | **6.5** | **4.9** |
| **Cash, cash equivalents and restricted cash; beginning of year** | **6.4** | 1.5 |
| **Cash, cash equivalents and restricted cash; end of year** | $**12.9** | $6.4 |
| **Supplemental cash flow information:** |  |  |
| Interest payments | $**4.0** | $3.2 |
| Income tax payments | **0.6** | 5.3 |

---

------

**LUXFER HOLDINGS PLC**

**SUPPLEMENTAL INFORMATION**

**SEGMENT INFORMATION (UNAUDITED)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net sales** | **Net sales** | **Net sales** | **Net sales** | **Adjusted EBITDA** | **Adjusted EBITDA** | **Adjusted EBITDA** | **Adjusted EBITDA** |
| | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** |
| *In millions* | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| Gas Cylinders segment | $**51.8** | $50.0 | $**183.7** | $178.3 | $**3.0** | $6.0 | $**12.8** | $22.7 |
| Elektron segment | **64.9** | 48.7 | **239.7** | 195.8 | **11.0** | 8.6 | **50.3** | 40.7 |
| Consolidated | $**116.7** | $98.7 | $**423.4** | $374.1 | $**14.0** | $14.6 | $**63.1** | $63.4 |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Depreciation and amortization** | **Depreciation and amortization** | **Depreciation and amortization** | **Depreciation and amortization** | **Restructuring charges** | **Restructuring charges** | **Restructuring charges** | **Restructuring charges** |
| | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** |
| *In millions* | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| Gas Cylinders segment | $**1.0** | $1.9 | $**4.8** | $5.8 | $**(0.1)** | $4.2 | $**1.7** | $5.3 |
| Elektron segment | **2.2** | 2.5 | **8.8** | 9.8 | **—** | (0.1) | **0.2** | 0.9 |
| Consolidated | $**3.2** | $4.4 | $**13.6** | $15.6 | $**(0.1)** | $4.1 | $**1.9** | $6.2 |

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**ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE (UNAUDITED)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** |
| *In millions except per share data* | **2022** | **2021** | **2022** | **2021** |
| Net income from continuing operations | $**6.2** | $3.5 | $**32.0** | $30.0 |
| Accounting charges relating to acquisitions and disposals of businesses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amortization on acquired intangibles | **0.1** | 0.2 | **0.7** | 0.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acquisition and disposal related (gains) / costs | **—** |  | **0.3** | 1.5 |
| Defined benefit pension credit | **0.8** | (0.5) | **(0.1)** | (2.3) |
| Restructuring charges | **(0.1)** | 4.1 | **1.9** | 6.2 |
| Other charges | **—** |  | **—** | 1.1 |
| Share-based compensation charges | **0.7** | 0.6 | **2.5** | 2.8 |
| Other non-recurring tax items | **—** | 0.3 | **—** | (1.9) |
| Income tax on adjusted items | **0.8** | (0.3) | **0.1** | (2.1) |
| Adjusted net income from continuing operations | $**8.5** | $7.9 | $**37.4** | $36.2 |
| **Adjusted earnings per ordinary share from continuing operations**<sup>(1)</sup> |  |  |  |  |
| Diluted earnings per ordinary share | $**0.23** | $0.13 | $**1.16** | $1.07 |
| Impact of adjusted items | **0.08** | 0.15 | **0.20** | 0.22 |
| Adjusted diluted earnings per ordinary share | $**0.31** | $0.28 | $**1.36** | $1.29 |

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<sup>(1)</sup> For the purpose of calculating diluted earnings per share, the weighted average number of ordinary shares outstanding during the financial year has been adjusted for the dilutive effects of all potential ordinary shares and share options granted to employees.

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**LUXFER HOLDINGS PLC**

**SUPPLEMENTAL INFORMATION**

**ADJUSTED EBITDA (UNAUDITED)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** |
| *In millions* | **2022** | **2021** | **2022** | **2021** |
| Adjusted net income from continuing operations | $**8.5** | $7.9 | **37.4** | 36.2 |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other non-recurring tax items | **—** | (0.3) | **—** | 1.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax on adjusted items | **(0.8)** | 0.3 | **(0.1)** | 2.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | **1.8** | 1.8 | **9.0** | 5.4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net finance costs | **1.2** | 0.7 | **3.9** | 3.1 |
| Adjusted EBITA | $**10.7** | $10.4 | $**50.2** | $48.7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loss on disposal of property, plant and equipment | **0.2** |  | **—** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation | **3.1** | 4.2 | **12.9** | 14.7 |
| Adjusted EBITDA | $**14.0** | $14.6 | $**63.1** | $63.4 |

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**ADJUSTED EFFECTIVE TAX RATE FROM CONTINUING OPERATIONS (UNAUDITED)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Year-to-date** | **Year-to-date** |
| *In millions* | **2022** | **2021** | **2022** | **2021** |
| Adjusted net income from continuing operations | $**8.5** | $7.9 | **37.4** | 36.2 |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other non-recurring tax items | **—** | (0.3) | **—** | 1.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax on adjusted items | **(0.8)** | 0.3 | **(0.1)** | 2.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Provision for income taxes | **1.8** | 1.8 | **9.0** | 5.4 |
| Adjusted income from continuing operations before income taxes | $**9.5** | $9.7 | $**46.3** | $45.6 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loss on disposal of property, plant and equipment | **0.2** |  | **—** |  |
| Adjusted provision for income taxes | **1.0** | **1.8** | **8.9** | **9.4** |
| Adjusted effective tax rate from continuing operations | **10.5%** | 18.6% | **19.2%** | 20.6% |

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