Revenue Above Expectations; Adjusted EBITDA to Exceed Previously Issued Guidance STAMFORD, Conn., April 22, 2024 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX) ("Tronox" or the "Company"), the world's leading integrated manufacturer of titanium dioxide pigment, in conjunction with the launch of an opportunistic repricing transaction relating to a portion of its existing term loan tranches, today released selected preliminary unaudited financial results for the quarter ending March 31, 2024. For Q1 2024, Tronox's revenue is expected to be $774 million, an increase of 9% compared to the prior year or 13% compared to the prior quarter, net loss is expected to be $9 million, and Adjusted EBITDA is expected to be $131 million, exceeding previously issued guidance of $100-$120 million. Tronox's Adjusted EBITDA margin is expected to be approximately 17%. Chief Executive Officer John D. Romano commented, "We delivered an even stronger first quarter than anticipated, with Adjusted EBITDA coming in above our previously issued guidance, due to continued strengthening of the market recovery. Demand outpaced expectations for both TiO2 and zircon, with TiO2 volumes increasing approximately 18% in the first quarter versus the fourth quarter and zircon volumes increasing approximately 54% over the same period. Additionally, and in line with our year-end earnings call guidance, our costs continue to trend favorably as a result of improved absorption from higher production volume and the absence of non-repeating charges in prior quarters. We remain confident in our ability to deliver industry leading results and are well-positioned to continue our participation in the recovery and demonstrate the full capabilities of our vertically integrated portfolio. We look forward to reporting and discussing our full financial results at the beginning of May as previously announced." First Quarter 2024 Preliminary ResultsRevenue from TiO2 is expected to be $605 million, an increase of 8% compared to the prior year, driven by an 18% increase in volumes, partially offset by a 10% decrease from average selling prices including mix. Sequentially, this represents an increase in TiO2 revenue of 17%, driven by a 18% increase in volumes, partially offset by a 1% decrease from average selling prices including mix. Zircon revenue is expected to be $88 million, an increase of 22% compared to the prior year, driven by a 43% increase in volumes, partially offset by a 21% decrease in average selling prices. Sequentially, this represents an increase in zircon revenue of 54% due to increased volumes. Revenue from other products is expected to be $81 million, an increase of 7% year-over-year. Sequentially, this represents a decrease in other product revenue of 26%, primarily due to the opportunistic sales of ilmenite and a portion of a rare earths tailings deposit in South Africa that occurred in the fourth quarter and did not repeat, as expected and communicated last quarter. The selected preliminary unaudited financial results for the quarter ending March 31, 2024 are preliminary, based upon information available as of today and are subject to change and finalization based on completion of all quarter-end close processes. Note: Refer to the tables at the end of this press release for a reconciliation of Adjusted EBITDA to net income. Investors are cautioned that net income is not finalized and is subject to change, primarily due to the finalization of the income tax provision which would not impact Adjusted EBITDA. For this reason, earnings per share and adjusted earnings per share are not available at this time. Webcast Conference CallTronox will conduct ...