Koppers Announces $100 Million Share Repurchase Program

Supported by Strong Cash Flow Generation Enhances Shareholder Value through Disciplined Capital Allocation , /PRNewswire/ -- Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds, today announced that its Board of Directors approved a $100 million share repurchase program. The repurchase program replaces the company's previous share repurchase program of $100 million, which was approved in August 2021 and had approximately $11 million remaining. This action reflects the continued confidence that Koppers Board of Directors and management have in the company's improved free cash flow profile, which provides the ability to return meaningful capital to shareholders. Chief Financial Officer Jimmi Sue Smith said, "We are pleased with the share repurchase authorization, which supports Koppers commitment to a flexible and balanced capital allocation policy that pivots where capital is deployed based upon strategic needs and expected returns. With growth investment projects in our 2025 strategic plan substantially completed, we anticipate lower capital expenditures and higher free cash flow in 2025 and beyond, which we plan to allocate to debt reduction and share repurchases. So long as our trailing enterprise value multiple lags our long-term average and we see improved future performance, we plan to aggressively repurchase shares within the constraints of our credit agreement, while also reducing debt and leverage, which we expect to be within our long-term targeted range of 2 to 3 times net debt to adjusted EBITDA by the end of 2025." Koppers is authorized to repurchase shares and will consider whether to do so from time to time, based on many factors, including market and economic conditions, applicable legal requirements, and other business considerations. The share repurchase program has no termination date and may be suspended or discontinued at any time. About Koppers Koppers (NYSE: KOP) is an integrated global provider of essential treated wood products, wood preservation technologies and carbon compounds. Our team of 2,100 employees create, protect and preserve key elements of our global infrastructure – including railroad crossties, utility poles, outdoor wooden structures, and production feedstocks for steel, aluminum and construction materials, among others – applying decades of industry-leading expertise while constantly innovating to anticipate the needs of tomorrow. Together we are providing safe and sustainable solutions to enable rail transportation, keep power flowing, and create spaces of enjoyment for people everywhere. Protecting What Matters, Preserving The Future. Learn more at Koppers.com. Inquiries from the media should be directed to Ms. Jessica Franklin Black at [email protected] or 412-227-2025. Inquiries from the investment community should be directed to Ms. Quynh McGuire at [email protected] or 412-227-2049. Safe Harbor Statement Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Koppers assets and the effect of any resulting impairment charges, profitability and anticipated expenses and cash outflows. All forward-looking statements involve risks and uncertainties. All statements contained herein that are not clearly historical in nature are forward-looking, and words such as "outlook," "guidance," "forecast," "believe," "anticipate," "expect," "estimate," "may," "will," "should," "continue," "plan," "potential," "intend," "likely," or other similar words or phrases are generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in other press releases, written statements or other documents filed with the Securities and Exchange Commission, or in Koppers communications and discussions with investors and analysts in the normal course of business through meetings, phone calls and conference calls, regarding future dividends, expectations with respect to sales, earnings, cash flows, operating efficiencies, restructurings, cost reduction efforts, the benefits of acquisitions, divestitures, joint ventures or other matters as well as financings and debt reduction, are subject to known and unknown risks, uncertainties and contingencies. Many of these risks, uncertainties and contingencies are beyond our control, and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward-looking statements include, among other things, availability of and fluctuations in the prices of key raw materials, including coal tar, lumber and scrap copper; the impact of changes in commodity prices, such as oil, copper and chemicals, on product margins; the extent of the dependence of certain of our businesses on certain market sectors and customers; economic, political and environmental conditions in international markets, including governmental changes, tariffs, restrictions on trade and restrictions on the ability to transfer capital across countries; general economic and business conditions; potential difficulties in protecting our intellectual property; the ratings on our debt and our ability to repay or refinance our outstanding indebtedness as it matures; our ability to operate within the limitations of our debt covenants; unexpected business disruptions; potential delays in timing or changes to expected benefits from cost reduction efforts; potential impairment of our goodwill and/or long-lived assets; demand for Koppers goods and services; competitive conditions; capital market conditions, including interest rates, borrowing costs and foreign currency rate fluctuations; disruptions and inefficiencies in the supply chain; changes in laws; the impact of environmental laws and regulations; unfavorable resolution of claims against us, as well as those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly our latest annual report on Form 10-K and any subsequent filings by Koppers with the Securities and Exchange Commission. Any forward-looking statements in this release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. For Information: Quynh McGuire, Vice President, Investor Relations412 227 2049[email protected] SOURCE KOPPERS HOLDINGS INC. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Koppers Announces $100 Million Share Repurchase Program

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