Minerals Technologies reports $554.9 million revenue for Q3 2026

Cover page 2 changes

4 unchanged paragraphs

For the quarterly period ended July 5, October 4, 2026

23 unchanged paragraphs

As of July 22, October 23, 2026, there were 31,128,762 31,068,249 shares of common stock, par value of $0.10 per share, of the registrant outstanding.

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Financial statements 131 changes

2 unchanged paragraphs

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

1 unchanged paragraph

Net sales $ 548.4 $ 528.9 $ 1,095.3 $ 1,020.7

Cost of goods sold 414.6 392.0 830.4 764.2

Production margin 133.8 136.9 264.9 256.5

Marketing and administrative expenses 53.3 52.2 110.8 102.8

Research and development expenses 5.9 5.7 12.0 11.5

Litigation expenses 4.9 4.2 13.7 7.0

Income (loss) from operations ( 220.3 ) 74.6 ( 161.6 ) ( 85.5 )

Total non-operating deductions, net ( 11.0 ) ( 15.5 ) ( 23.8 ) ( 31.7 )

Net income (loss) ( 182.6 ) 46.3 ( 145.3 ) ( 96.7 )

Net sales $ 554.9 $ 532.4 $ 1,650.2 $ 1,553.1

Cost of goods sold 425.7 395.4 1,256.1 1,159.6

Production margin 129.2 137.0 394.1 393.5

Marketing and administrative expenses 52.0 53.0 162.8 155.8

Research and development expenses 5.7 5.6 17.7 17.1

Provision for litigation accrual and credit losses 290.0 - - 290.0 215.0

Restructuring and other items - 5.8 - - 11.3

Gain on sale of assets, net - - 5.6 ) - ( 5.6 )

Litigation expenses 6.7 7.5 20.4 14.5

Income (loss) from operations 64.8 70.9 ( 96.8 ) ( 14.6 )

Interest expense, net ( 12.1 ) ( 13.6 13.8 ) ( 25.4 37.5 ) ( 27.8 41.6 )

Other non-operating income (deductions), net 1.1 0.3 ( 1.9 0.5 ) 1.6 1.9 ( 3.9 4.4 )

Total non-operating deductions, net ( 11.8 ) ( 14.3 ) ( 35.6 ) ( 46.0 )

Income (loss) before tax and equity in earnings ( 231.3 ) 59.1 53.0 56.6 ( 185.4 132.4 ) ( 117.2 60.6 )

Provision (benefit) for taxes on income ( 46.2 ) 13.9 12.2 13.5 ( 36.3 24.1 ) ( 18.2 4.7 )

Equity in earnings of affiliates, net of tax 2.5 3.0 1.1 3.8 2.3 6.8 3.4

Net income (loss) 43.8 44.2 ( 101.5 ) ( 52.5 )

Net income attributable to non-controlling interests 1.0 0.9 2.1 1.9 1.1 1.2 3.2 3.1

Net income (loss) attributable to Minerals Technologies Inc. $ ( 183.6 ) 42.7 $ 45.4 43.0 $ ( 147.4 104.7 ) $ ( 98.6 55.6 )

1 unchanged paragraph

Net income (loss) attributable to Minerals Technologies Inc. $ ( 5.90 ) 1.37 $ 1.44 1.37 $ ( 4.74 3.37 ) $ ( 3.11 1.76 )

Net income (loss) attributable to Minerals Technologies Inc. $ ( 5.90 ) 1.37 $ 1.44 1.37 $ ( 4.74 3.37 ) $ ( 3.11 1.76 )

Cash dividends declared per common share $ 0.12 $ 0.11 $ 0.24 0.36 $ 0.22 0.33

1 unchanged paragraph

Basic 31.1 31.6 31.3 31.1 31.7 31.6

Diluted 31.2 31.3 31.1 31.6 31.1 31.7

3 unchanged paragraphs

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

1 unchanged paragraph

Net income (loss) $ ( 182.6 ) $ 46.3 $ ( 145.3 ) $ ( 96.7 )

Net income (loss) $ 43.8 $ 44.2 $ ( 101.5 ) $ ( 52.5 )

1 unchanged paragraph

Foreign currency translation adjustments ( 7.1 ) 30.0 ( 20.5 ) 39.8

Foreign currency translation adjustments ( 6.9 ) ( 5.0 ) ( 27.4 ) 34.8

Pension and postretirement plan adjustments - 0.1 - 0.2 0.3

Unrealized gain (loss) on derivative instruments 0.8 2.0 ( 0.9 0.1 ) 0.2 2.9 ( 0.3 )

Total other comprehensive income (loss), net of tax ( 6.3 4.9 ) 30.1 ( 19.6 5.0 ) 39.8 ( 24.5 ) 34.8

Total comprehensive income (loss) including non-controlling interests ( 188.9 ) 76.4 38.9 39.2 ( 164.9 126.0 ) ( 56.9 17.7 )

Comprehensive income attributable to non-controlling interests 0.8 1.2 1.7 1.5 0.8 2.9 2.2

Comprehensive income (loss) attributable to Minerals Technologies Inc. $ ( 189.7 ) 37.7 $ 75.2 38.4 $ ( 166.6 128.9 ) $ ( 58.4 19.9 )

4 unchanged paragraphs

Inventories 355.6 350.2

Cash and cash equivalents $ 342.2 372.1 $ 329.0

Short-term investments 4.0 6.9 3.6

Accounts receivable, net 412.6 421.7 400.1

Inventories 368.2 350.2

Prepaid expenses and other current assets 69.3 65.6 72.7

Total current assets 1,183.7 1,234.5 1,155.6

Property, plant, and equipment 2,329.9 2,346.5 2,308.9

Less accumulated depreciation and depletion ( 1,297.0 1,310.8 ) ( 1,283.9 )

Property, plant, and equipment, net 1,032.9 1,035.7 1,025.0

Goodwill 915.9 915.5 915.9

Intangible assets 202.4 199.4 208.7

Deferred income taxes 15.4 15.9 15.2

Other assets and deferred charges 144.9 147.4 148.6

Total assets $ 3,495.2 3,548.4 $ 3,469.0

2 unchanged paragraphs

Short-term debt $ 6.0 $ 0.4

Accounts payable 202.6 187.9

Current maturities of long-term debt 6.0 5.9 6.3

Accounts payable 219.3 187.9

Other current liabilities 613.9 624.1 360.8

Total current liabilities 828.5 849.3 555.4

Long-term debt, net of unamortized discount and deferred financing costs 952.9 951.9 955.0

Deferred income taxes 29.7 31.3 90.7

Accrued pension and postretirement benefits 14.0 12.0 19.5

Other non-current liabilities 93.3 92.3 98.7

Total liabilities 1,918.4 1,936.8 1,719.3

3 unchanged paragraphs

Additional paid-in capital 547.8 551.1 535.1

Retained earnings 2,327.0 2,366.0 2,481.9

Accumulated other comprehensive loss ( 359.6 364.6 ) ( 340.4 )

Less common stock held in treasury ( 975.3 978.8 ) ( 968.2 )

Total Minerals Technologies Inc. shareholders' equity 1,544.9 1,578.7 1,713.4

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and 51 more changes in the filing

Note 1: Basis of Presentation and Summary of Significant Accounting Policies 2 changes

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by management of Minerals Technologies Inc. (together with its subsidiaries, the "Company," "MTI," "we," "us," or "our" ) in accordance with the rules and regulations of the United States Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of management, all adjustments, consisting solely of normal recurring adjustments necessary for a fair presentation of the financial information for the periods indicated, have been included. The results for the three and six-month nine-month periods ended July 5, October 4, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

6 unchanged paragraphs

Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the Condensed Consolidated Financial Statements for the three and six-month nine-month periods ended July 5, October 4, 2026.

3 unchanged paragraphs

Note 2: Revenue from Contracts with Customers 18 changes

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

The following table disaggregates our revenue by major source (product line) for the three and six-month nine-month periods ended July 5, October 4, 2026 and June 29, September 28, 2025:

(in millions of dollars) Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

1 unchanged paragraph

Household & Personal Care $ 123.4 $ 127.4 $ 265.8 $ 250.5

Specialty Additives 151.1 150.3 305.3 295.5

Consumer & Specialties Segment 274.5 277.7 571.1 546.0

High-Temperature Technologies 190.3 178.4 373.6 347.8

Environmental & Infrastructure 83.6 72.8 150.6 126.9

Engineered Solutions Segment 273.9 251.2 524.2 474.7

Total net sales $ 548.4 $ 528.9 $ 1,095.3 $ 1,020.7

Household & Personal Care $ 130.5 $ 129.8 $ 396.3 $ 380.3

Specialty Additives 147.6 147.6 452.9 443.1

Consumer & Specialties Segment 278.1 277.4 849.2 823.4

High-Temperature Technologies 192.3 178.9 565.9 526.7

Environmental & Infrastructure 84.5 76.1 235.1 203.0

Engineered Solutions Segment 276.8 255.0 801.0 729.7

Total net sales $ 554.9 $ 532.4 $ 1,650.2 $ 1,553.1

Note 3: Earnings (loss) per Share (EPS) 9 changes

2 unchanged paragraphs

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

1 unchanged paragraph

Net income (loss) attributable to Minerals Technologies Inc. $ ( 183.6 ) 42.7 $ 45.4 43.0 $ ( 147.4 104.7 ) $ ( 98.6 55.6 )

Weighted average shares outstanding 31.1 31.6 31.3 31.1 31.7 31.6

Dilutive effect of stock options and deferred restricted stock units - 0.1 - - -

Weighted average shares outstanding, adjusted 31.2 31.3 31.1 31.6 31.1 31.7

Basic earnings (loss) per share attributable to Minerals Technologies Inc. $ ( 5.90 ) 1.37 $ 1.44 1.37 $ ( 4.74 3.37 ) $ ( 3.11 1.76 )

Diluted earnings (loss) per share attributable to Minerals Technologies Inc. $ ( 5.90 ) 1.37 $ 1.44 1.37 $ ( 4.74 3.37 ) $ ( 3.11 1.76 )

1 unchanged paragraph

Note 4: Restructuring and Other Items 16 changes

3 unchanged paragraphs

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

2 unchanged paragraphs

Consumer & Specialties $ - $ 1.7 - $ - $ 1.7

Engineered Solutions - 1.7 - - 1.7

Total charge for asset write-downs $ - $ 3.4 - $ - $ 3.4

1 unchanged paragraph

Consumer & Specialties $ - $ 1.6 - $ - $ 4.1

Engineered Solutions - 0.8 - - 1.6

Total severance and other related costs $ - $ 2.4 - $ - $ 7.9

Total restructuring and other items $ - $ 5.8 - $ - $ 11.3

At July 5, October 4, 2026, the Company had $ 3.8 3.3 million included within other current liabilities in the Condensed Consolidated Balance Sheet for cash expenditures needed to satisfy remaining obligations under workforce reduction initiatives. The Company expects to pay these amounts within the next twelve months.

The following table is a reconciliation of our restructuring liability balance relating to workforce reductions as of July 5, October 4, 2026:

2 unchanged paragraphs

Restructuring liability, July 5, 2026 $ 3.8

Cash payments ( 1.1 1.6 )

Restructuring liability, October 4, 2026 $ 3.3

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES

Note 5: Income Taxes 8 changes

Provision (benefit) for taxes was $( 46.2 ) million and $( 36.3 ) million during the three and six-month periods ended July 5, 2026. Provision (benefit) for taxes was $ 13.9 million and $( 18.2 ) million during the three and six-month periods ended June 29, 2025. The benefit from taxes for the six-month period ended June 29, 2025 relates to pre-tax losses, primarily as a result of the provision for litigation accrual and credit losses recorded in the first quarter of 2025. The effective tax rate was 20.0 % for the three-month period ended July 5, 2026, as compared with 23.5 % for the three-month period ended June 29, 2025. The effective tax rate was 19.6 % for the six-month period ended July 5, 2026, as compared with 15.5 % for the six-month period ended June 29, 2025. The lower rate in the current year was primarily due to the provision for the litigation accrual and credit losses.

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES

Provision for taxes was $ 12.2 million and $ 13.5 million for the three-month periods ended October 4, 2026 and September 28, 2025, respectively. Benefit for taxes was $ 24.1 million and $ 4.7 million for the nine-month periods ended October 4, 2026 and September 28, 2025, respectively, primarily attributable to the litigation accrual. The effective tax rate was 23.0 % for the three-month period ended October 4, 2026, as compared with 23.9 % for the three-month period ended September 28, 2025.

As of October 4, 2026, the Company had approximately $ 6.2 million of total unrecognized income tax benefits. Included in this amount were a total of $ 4.6 million of unrecognized income tax benefits that, if recognized, would affect the Company's effective tax rate. While it is expected that the amount of unrecognized tax benefits will change in the next 12 months, the Company does not expect the change to have a significant impact on the results of operations or the financial position of the Company.

The Company's accounting policy is to recognize interest and penalties accrued, relating to unrecognized income tax or benefit as part of its provision for income taxes. The Company recorded net immaterial additions during the three-month period ended October 4, 2026 and had an accrued balance of $ 0.8 million of interest and penalties as of October 4, 2026.

The Company operates in multiple taxing jurisdictions, both within and outside the U.S. In certain situations, a taxing authority may challenge positions that the Company has adopted in its income tax filings. The Company, with a few exceptions (none of which are material), is no longer subject to U.S. federal, state, local, and international income tax examinations by tax authorities for years prior to 2017.

On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the U.S. It contains a broad range of tax reform provisions affecting businesses. The Company evaluated the full effects of the legislation on our annual effective tax rate and cash tax position, and it did not have a material impact on our Consolidated Financial Statements.

In December 2021, the Organization for Economic Co-operation and Development ("OECD") released the Pillar Two Model Rules which aim to reform international corporate taxation rules, including the implementation of a global minimum tax rate. The Company began implementation of the Pillar Two Model Rules in the first quarter of 2024. The Company continues to assess the effect of the Pillar Two Model Rules in all jurisdictions and does not expect that Pillar Two will have a material impact on its Consolidated Financial Statements .

Note 6: Inventories 9 changes

2 unchanged paragraphs

Raw materials $ 161.0 $ 160.6

Finished goods 122.4 117.3

Total inventories $ 355.6 $ 350.2

Raw materials $ 174.9 $ 160.6

Work-in-process 10.1 8.6 13.3

Finished goods 124.8 117.3

Packaging and supplies 62.1 59.9 59.0

Total inventories $ 368.2 $ 350.2

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES

Note 7: Goodwill and Other Intangible Assets 8 changes

Goodwill and other intangible assets with indefinite lives are not amortized, but instead are assessed for impairment, at least annually. The carrying amount of goodwill was $ 915.5 million and $ 915.9 million for both periods as of July 5, October 4, 2026 and December 31, 2025, respectively. The net change in goodwill from December 31, 2025 to October 4, 2026 is attributable to the effects of foreign exchange.

Acquired intangible assets subject to amortization as of July 5, October 4, 2026 and December 31, 2025 were as follows:

Jul. 5, Oct. 4, 2026 Dec. 31, 2025

3 unchanged paragraphs

Tradenames 34 $ 221.4 $ 69.8 71.0 $ 221.4 $ 67.6

Technology 20 18.8 15.7 15.8 18.8 15.5

1 unchanged paragraph

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES

Customer relationships 21 79.6 31.9 79.3 33.3 80.4 28.8

The weighted average amortization period for acquired intangible assets subject to amortization is approximately 29 years. Estimated amortization expense is $ 2.9 million for the remainder of 2026, $ 46.0 million for 2027–2030 and $ 150.5 million thereafter.

Note 8: Derivative Financial Instruments 7 changes

4 unchanged paragraphs

Assets and liabilities measured at fair value are based on one or more of three valuation techniques. The three valuation techniques are as follows:

Market approach - prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Cost approach - amount that would be required to replace the service capacity of an asset or replacement cost.

Income approach - techniques to convert future amounts to a single present amount based on market expectations, including present value techniques, option-pricing and other models.

The Company primarily applies the income approach for interest rate derivatives for recurring fair value measurements and attempts to utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value of our interest rate swap contract is determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets and is categorized as Level 2.

The Company utilizes interest rate swaps to limit exposure to market fluctuations on floating-rate debt. In the second quarter of 2023, the Company entered into a floating to fixed interest rate swap for a notional amount of $ 150 million. This interest rate swap matured in May 2026. In the second quarter of 2026, the Company entered into a new floating to fixed interest rate swap for a notional amount of $ 150 million. The fair value of this swap is an asset of $ 1.1 3.8 million at July 5, October 4, 2026 and is recorded in other assets and deferred charges on the Condensed Consolidated Balance Sheet. This interest rate swap is designated as a cash flow hedge. As a result, the gains and losses associated with this interest rate swap are recorded in accumulated other comprehensive income (loss).

1 unchanged paragraph

Note 9: Long-Term Debt and Commitments 7 changes

3 unchanged paragraphs

Total $ 958.9 $ 961.3

Term Loan due 2031 , net of unamortized deferred financing cost and original issue discount of $ 6.1 5.9 million and $ 6.5 million $ 560.3 559.1 $ 562.7

5.00 % due 2028 , net of unamortized deferred financing costs of $ 1.9 1.7 million and $ 2.3 million 398.1 398.3 397.7

Total $ 957.8 $ 961.3

Less: Current maturities of long-term debt 6.0 5.9 6.3

Total long-term debt $ 952.9 951.9 $ 955.0

2 unchanged paragraphs

Loans under the Revolving Facility will bear interest at a rate equal to (a) for loans denominated in U.S. dollars, at the election of the Company, Term SOFR plus an applicable margin equal to 1.375 % per annum or a base rate plus an applicable margin equal to 0.375 % per annum, (b) for loans denominated in Euros, adjusted EURIBOR plus an applicable margin equal to 1.375 % per annum and (c) for loans denominated in Pounds Sterling, SONIA plus an applicable margin equal to 1.375 % per annum, subject in each case to (i) an increase of 37.5 basis points in the event that, and for so long as, the Net Leverage Ratio (as defined in the Amended Credit Agreement) is greater than or equal to 3.00 to 1.00 as of the last day of the preceding fiscal quarter, (ii) an increase of 12.5 basis points in the event that, and for so long as, the Net Leverage Ratio is less than 3.00 to 1.00 and greater than or equal to 2.00 to 1.00 as of the last day of the preceding fiscal quarter, and (iii) a decrease of 12.5 basis points in the event that, and for so long as, the Net Leverage Ratio is less than 1.00 to 1.00 as of the last day of the preceding fiscal quarter. Loans under the Term Loan Facility will bear interest at a rate equal to, at the election of the Company, Term SOFR plus an applicable margin equal to 2.00 % per annum or a base rate plus an applicable margin equal to 1.00 % per annum. The Company will pay certain fees under the Amended Credit Agreement, including (a) a commitment fee of 0.175 % per annum on the undrawn portion of the Revolving Facility (subject to a step-ups to 0.300 % and 0.250 % and a step-down to 0.150 % at the same levels described above), (b) a fronting fee of 0.125 % per annum on the average daily undrawn amount of, plus unreimbursed amounts in respect of disbursements under, letters of credit issued under the Revolving Facility, and (c) customary annual administration fees. The obligations of the Company under the Senior Secured Credit Facilities are unconditionally guaranteed jointly and severally by, subject to certain exceptions, all material domestic subsidiaries of the Company (the "Guarantors") and secured, subject to certain exceptions, by a security interest in substantially all of the tangible and intangible assets of the Company and the Guarantors.

1 unchanged paragraph

Notes to the financial statements 44 changes

On October 2, 2023 (the "Petition Date"),

notwithstanding the Company's confidence in the safety of Oldco's talc products, the Company's subsidiaries, Oldco and Barretts Ventures Texas LLC ("BVT" and, together with Oldco, the "Chapter 11 Debtors"), filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the

"Chapter 11 Cases") to address and comprehensively resolve Oldco's liabilities associated with talc. Minerals Technologies Inc. and the Company's other subsidiaries were not included in the Chapter 11 filing.

The Chapter 11 Debtors' ultimate goal in the

Chapter 11 Cases is to confirm a plan of reorganization under Section 524(g) of the U.S. Bankruptcy Code and utilize this provision of the Bankruptcy Code to establish a trust that will address all current and future talc-related claims.

Discussions regarding the terms of a potential consensual plan of reorganization and the ultimate amount to be contributed to any trust are ongoing.

As of July 5, 2026, we had 986 open cases related to certain talc products previously sold by Oldco, which is an increase in volume from previous years. The following table details case activity related to talc products previously sold by Oldco:

Three Months Ended Six Months Ended

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

(number of claims) 2026 2025 2026 2025

Claims pending, beginning of period 978 715 914 684

Claims filed 55 68 169 135

Less: Claims dismissed, settled, or otherwise resolved 47 8 97 44

Claims pending, end of period 986 775 986 775

These claims typically allege various theories

of liability, including negligence, gross negligence, and strict liability and seek compensatory and, in some cases, punitive damages, but most of these claims do not provide adequate information to assess their merits, the likelihood that the Company will be found liable, or the magnitude of such liability, if any. We are unable to state an amount or range of amounts claimed in any of these lawsuits because state court pleading practices do not require the plaintiff to identify the amount of the claimed damage. The Company's position, as stated publicly, is that the talc products sold by Oldco are safe and do not cause cancer.

During the pendency of the Chapter 11 Cases, the

Company anticipates that the Chapter 11 Debtors will benefit from the operation of the automatic stay, which stays ongoing litigation in connection with talc-related claims against the Chapter 11 Debtors. In addition, the Bankruptcy

Court temporarily enjoined the filing or continued prosecution of all talc-related claims against the Chapter 11 Debtors' non-debtor affiliates, subject to certain exceptions. Such exceptions consist of claims premised solely on alleged inadequacies in testing of talc sold by Oldco. The

Company is vigorously opposing and defending against these claims.

While costs relating to the talc-related cases

have increased concurrently with the volume, the majority of these costs have historically been borne by Pfizer Inc. ("Pfizer") in connection with certain agreements entered into in connection with the Company's initial public offering in 1992, and as long as the litigation is subject to the stay under the Chapter 11 Cases (subject to certain exceptions), the Company will not be required to make substantial payments in respect thereof. The Company is entitled to indemnification, pursuant to agreement, for liabilities arising from sales prior to the initial public offering. On May 22, 2024, Pfizer filed a motion in the Chapter 11 Cases seeking permission to file a lawsuit against the Company related to the 1992 agreement. That motion has been adjourned, and Pfizer and the Company have agreed to mediate their disputes. The Company continues to receive information from Pfizer with respect to potential costs associated with the defense and/or settlement of talc-related cases that Pfizer alleges are not subject to indemnification. Although the Company believes that the talc products are safe and that claims to the contrary are without merit, the

Company and Oldco have opportunistically settled certain talc-related cases not settled by Pfizer. None of such settlements were material to the Company.

In the second quarter of 2024, Oldco sold its

talc assets under section 363 of the Bankruptcy Code. In addition, in the second quarter of 2024, the Company entered into a Debtor-in-Possession Credit

Agreement with Oldco (the "DIP Credit Agreement") and recorded a provision for credit loss of $ 30 million for the maximum principal amount under such

Credit Agreement. In the second quarter of 2025, the Company agreed to amend the DIP Credit Agreement to increase the maximum principal amount under such

Credit Agreement by $ 30 million. Proceeds of the sale of Oldco's talc assets and funds drawn by Oldco under the DIP Credit Agreement have been and will be used to fund the Chapter 11 Cases.

Loans under the Revolving Facility will bear interest at a rate equal to (a) for loans denominated in U.S. dollars, at the election of the Company, Term SOFR plus an applicable margin equal to 1.375 % per annum or a base rate plus an applicable margin equal to 0.375 % per annum, (b) for loans denominated in Euros, adjusted EURIBOR plus an applicable margin equal to 1.375 % per annum and (c) for loans denominated in Pounds Sterling, SONIA plus an applicable margin equal to 1.375 % per annum, subject in each case to (i) an increase of 37.5 basis points in the event that, and for so long as, the Net Leverage Ratio (as defined in the Amended Credit Agreement) is greater than or equal to 3.00 to 1.00 as of the last day of the preceding fiscal quarter, (ii) an increase of 12.5 basis points in the event that, and for so long as, the Net Leverage Ratio is less than 3.00 to 1.00 and greater than or equal to 2.00 to 1.00 as of the last day of the preceding fiscal quarter, and (iii) a decrease of 12.5 basis points in the event that, and for so long as, the Net Leverage Ratio is less than 1.00 to 1.00 as of the last day of the preceding fiscal quarter. Loans under the Term Loan Facility will bear interest at a rate equal to, at the election of the Company, Term SOFR plus an applicable margin equal to 2.00 % per annum or a base rate plus an applicable margin equal to 1.00 % per annum. The Company will pay certain fees under the Amended Credit Agreement, including (a) a commitment fee of 0.175 % per annum on the undrawn portion of the Revolving Facility (subject to a step-ups to 0.300 % and 0.250 % and a step-down to 0.150 % at the same levels described above), (b) a fronting fee of 0.125 % per annum on the average daily undrawn amount of, plus unreimbursed amounts in respect of disbursements under, letters of credit issued under the Revolving Facility, and (c) customary annual administration fees. The obligations of the Company under the Senior Secured Credit Facilities are unconditionally guaranteed jointly and severally by, subject to certain exceptions, all material domestic subsidiaries of the Company (the "Guarantors") and secured, subject to certain exceptions, by a security interest in substantially all of the tangible and intangible assets of the Company and the Guarantors.

On October 13, 2026, the Company entered into a

Refinancing Facility Agreement and Incremental Facility Amendment (the "2026

Amendment") to amend the Amended Credit Agreement (the Amended Credit

Agreement, as amended by the 2026 Amendment, the "2026 Amended Credit

Agreement"). The 2026 Amendment provides for, among other things, a new senior secured revolving credit facility with aggregate commitments of $ 500,000,000 (the "2026 Refinancing Revolving Facility"), a portion of which may be used for the issuance of letters of credit and swingline loans. The 2026 Refinancing

Revolving Facility replaces the Revolving Facility. The maturity date for loans and commitments under the 2026 Refinancing Revolving Facility is October 13,

2031 ; provided that the maturity date of the 2026 Refinancing Revolving

Facility will be adjusted to the date that is 91 days prior to the stated maturity date of the Term Loan Facility unless, prior to the date that is 91 days prior to the stated maturity date of the Term Loan Facility, all amounts in excess of $ 50,000,000 of the Term Loan Facility have been either (a)

refinanced with indebtedness permitted under the 2026 Amended Credit Agreement maturing later than 90 days after the scheduled maturity date of the Term Loan

Facility or (b) discharged or repaid (other than with the proceeds of any indebtedness maturing earlier than 91 days after the scheduled maturity date of the 2026 Refinancing Revolving Facility). The 2026 Amendment does not change any terms of the Term Loan Facility and, except as set forth above, the terms of the 2026 Refinancing Revolving Facility (including interest rates and fees)

remain the same as the Revolving Facility.

As of October 4, 2026, there were no loans and $ 11.2 million in letters of credit outstanding under the Revolving Facility.

On June 30, 2020, the Company issued $ 400 million aggregate principal amount of " 5 % Senior Notes" due 2028 (the "2028 Notes"). The 2028 Notes were issued pursuant to an indenture, dated as of June 30, 2020, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the "2020 Indenture"). The 2028 Notes bore an interest rate of 5.0 % per annum payable semi-annually on January 1 and July 1 of each year, beginning on January 1, 2021. The 2028 Notes were unconditionally guaranteed on a senior unsecured basis by each of the Company's existing and future wholly owned domestic restricted subsidiaries that is a borrower under or that guarantees the Company's obligations under its Senior Secured Credit Facilities or that guarantees the Company's or any of the Company's wholly owned domestic subsidiaries' long-term indebtedness in an aggregate amount in excess of $ 50 million.

On October 13, 2026, the Company completed an offering of $ 400,000,000 aggregate principal amount of its 7.500 % Senior Notes due 2032 (the "2032 Notes"). The Company used the net proceeds of its offering of the 2032 Notes, together with cash on hand, (i) to redeem all of the outstanding 2028 Notes and (ii) to pay transaction fees and expenses related to the offering of the 2032 Notes and the 2026 Amendment . The terms of the 2032 Notes are governed by an indenture dated as of October 13, 2026 (the "2026 Indenture"), among the Company, the subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee (the "2026 Trustee").

The 2032 Notes bear interest at a rate of 7.500 % per annum payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2027. The 2032 Notes are guaranteed by the Company's wholly owned domestic restricted subsidiaries that are obligors or guarantors under its senior secured credit facilities or certain other indebtedness.

1 unchanged paragraph

Note 10: Benefit Plans 11 changes

1 unchanged paragraph

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Components of Net Periodic Benefit Cost (Income)

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

1 unchanged paragraph

Interest cost 4.0 4.2 8.0 8.4

Expected return on plan assets ( 5.9 ) ( 5.5 ) ( 11.8 ) ( 11.0 )

Service cost $ 1.0 $ 1.0 $ 1.9 2.9 $ 2.0 3.0

Interest cost 4.1 4.2 12.1 12.6

Expected return on plan assets ( 6.0 ) ( 5.5 ) ( 17.8 ) ( 16.5 )

Recognized net actuarial loss - 0.2 0.1 0.4 0.2 0.2 0.7

Net periodic benefit cost (income) $ ( 0.9 0.8 ) $ ( 0.1 ) $ ( 1.8 2.6 ) $ ( 0.2 )

1 unchanged paragraph

Note 11: Comprehensive Income 11 changes

1 unchanged paragraph

Jul. 5, Jun. 29, Jul. 5, Jun. 29,

Three Months Ended Six Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

2 unchanged paragraphs

Pre-tax amount $ - 0.1 ) $ 0.1 $ ( 0.1 ) $ 0.2 0.5

Net of tax $ - $ 0.1 $ - $ 0.2 0.3

6 unchanged paragraphs

Other comprehensive income (loss) before reclassifications ( 20.1 ) - 0.9 ( 19.2 )

Other comprehensive income (loss) before reclassifications ( 27.1 ) - 2.9 ( 24.2 )

1 unchanged paragraph

Balance as of July 5, 2026 $ ( 381.0 ) $ 10.3 $ 11.1 $ ( 359.6 )

Net current period other comprehensive income (loss) ( 20.1 27.1 ) - 0.9 2.9 ( 19.2 24.2 )

Balance as of October 4, 2026 $ ( 388.0 ) $ 10.3 $ 13.1 $ ( 364.6 )

MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES

Note 12: Contingencies 22 changes

3 unchanged paragraphs

On October 2, 2023 (the "Petition Date"),

notwithstanding the Company's confidence in the safety of Oldco's talc products, the Company's subsidiaries, Oldco and Barretts Ventures Texas LLC ("BVT" and, together with Oldco, the "Chapter 11 Debtors"), filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the

"Chapter 11 Cases") to address and comprehensively resolve Oldco's liabilities associated with talc. Minerals Technologies Inc. and the Company's other subsidiaries were not included in the Chapter 11 filing.

The Chapter 11 Debtors' stated goal in the

Chapter 11 Cases is to confirm a plan of reorganization under Section 524(g) of the U.S. Bankruptcy Code and utilize this provision of the Bankruptcy Code to establish a trust that will address all current and future talc-related claims.

As of October 4, 2026, we had 1,051 open cases related to certain talc products previously sold by Oldco, which is an increase in volume from previous years. The following table details case activity related to talc products previously sold by Oldco:

Three Months Ended Nine Months Ended

Oct. 4, Sep. 28, Oct. 4, Sep. 28,

(number of claims) 2026 2025 2026 2025

Claims pending, beginning of period 986 775 914 684

Claims filed 97 79 266 224

Less: Claims dismissed, settled, or otherwise resolved 32 14 129 68

Claims pending, end of period 1,051 840 1,051 840

These claims typically allege various theories

of liability, including negligence, gross negligence, and strict liability and seek compensatory and, in some cases, punitive damages, but most of these claims do not provide adequate information to assess their merits, the likelihood that the Company will be found liable, or the magnitude of such liability, if any. We are unable to state an amount or range of amounts claimed in any of these lawsuits because state court pleading practices do not require the plaintiff to identify the amount of the claimed damage. The Company's position, as stated publicly, is that the talc products sold by Oldco are safe and do not cause cancer.

During the pendency of the Chapter 11 Cases, the

Company anticipates that the Chapter 11 Debtors will benefit from the operation of the automatic stay, which stays ongoing litigation in connection with talc-related claims against the Chapter 11 Debtors. In addition, the Bankruptcy

Court temporarily enjoined the filing or continued prosecution of all talc-related claims against the Chapter 11 Debtors' non-debtor affiliates, subject to certain exceptions. Such exceptions consist of claims premised solely on alleged inadequacies in testing of talc sold by Oldco. The

Company is vigorously opposing and defending against these claims.

While costs relating to the talc-related cases

have increased concurrently with the volume, the majority of these costs have historically been borne by Pfizer Inc. ("Pfizer") in connection with certain agreements entered into in connection with the Company's initial public offering in 1992, and as long as the litigation is subject to the stay under the Chapter 11 Cases (subject to certain exceptions), the Company will not be required to make substantial payments in respect thereof. The Company is entitled to indemnification, pursuant to agreement, for liabilities arising from sales prior to the initial public offering. On May 22, 2024, Pfizer filed a motion in the Chapter 11 Cases seeking permission to file a lawsuit against the Company related to the 1992 agreement. That motion has been adjourned, and Pfizer and the Company have agreed to mediate their disputes. The Company continues to receive information from Pfizer with respect to potential costs associated with the defense and/or settlement of talc-related cases that Pfizer alleges are not subject to indemnification. Although the Company believes that the talc products are safe and that claims to the contrary are without merit, the

Company and Oldco have opportunistically settled certain talc-related cases not settled by Pfizer. None of such settlements were material to the Company.

1 unchanged paragraph

Note 13: Segment and Related Information 16 changes

3 unchanged paragraphs

Jul. 5, 2026 Jun. 29, 2025

Segment revenues, expenses, operating income, and a reconciliation of the operating segment totals to the applicable line items on the Condensed Consolidated Financial Statements are as follows for the three and six-month nine-month periods ended July 5, October 4, 2026 and June 29, September 28, 2025:

Oct. 4, 2026 Sep. 28, 2025

2 unchanged paragraphs

Net sales $ 274.5 $ 273.9 $ 548.4 $ 277.7 $ 251.2 $ 528.9

Cost of goods sold 224.5 190.1 414.6 218.1 173.9 392.0

Segment production margin 50.0 83.8 133.8 59.6 77.3 136.9

Marketing and administrative expenses 17.4 32.4 49.8 19.1 31.1 50.2

Restructuring and other items - - - 3.3 2.5 5.8

Gain on sale of assets, net - - - - ( 5.6 ) ( 5.6 )

Segment income from operations $ 29.3 $ 48.8 $ 78.1 $ 34.0 $ 46.8 $ 80.8

Net sales $ 278.1 $ 276.8 $ 554.9 $ 277.4 $ 255.0 $ 532.4

Cost of goods sold 232.1 193.6 425.7 218.0 177.4 395.4

Segment production margin 46.0 83.2 129.2 59.4 77.6 137.0

Marketing and administrative expenses 18.0 32.0 50.0 18.9 30.3 49.2

Research and development expenses 3.3 2.6 5.9 3.2 2.5 5.7 3.1 2.5 5.6

Segment income from operations $ 24.8 $ 48.7 $ 73.5 $ 37.4 $ 44.8 $ 82.2

1 unchanged paragraph

MD&A 225 changes

Net loss in the second quarter of 2026 was $183.6 million, as compared to net income of $45.4 million in the second quarter of 2025. Diluted loss in the second quarter of 2026 was $5.90 per share, as compared with earnings of $1.44 per share in the second quarter of 2025.

Our consolidated sales for the second third quarter of 2026 were $548.4 $554.9 million, an increase of 4% as compared with $528.9 $532.4 million in the prior year. Loss Income from operations was $220.3 $64.8 million, as compared with income of $74.6 $70.9 million in the prior year. In the second quarter of 2026, the Company recorded a charge of $290 million to increase the Company's reserve for estimated costs to fund a trust to resolve all current and future talc-related claims for alleged exposure to asbestos-contaminated talc products sold by the Company's subsidiary BMI Oldco Inc ( f/k/a Barretts Minerals Inc.) ("Oldco") as well as fund the bankruptcy of the Company's subsidiaries Oldco and Barretts Ventures Texas LLC ("BVT" and together with Oldco, the Chapter 11 Debtors"), and related litigation costs. Also Included in income (loss) from operations for the second third quarter of 2026 and 2025 was $4.9 were $6.7 million and $4.2 $7.5 million, respectively of litigation expenses incurred in connection with the bankruptcy of the Company's subsidiary BMI Oldco Inc (f/k/a Barretts Minerals Inc.) ("Oldco") and lawsuits related to talc products sold by Oldco.

Net income in the third quarter of 2026 was $42.7 million, as compared to net income of $43.0 million in the third quarter of 2025. Diluted earnings in the third quarter of both 2026 and 2025 was $1.37 per share.

Our balance sheet continues to be strong. Cash, cash equivalents, and short-term investments were $346.2 $379.0 million as of July 5, October 4, 2026. On October 13, 2026, the Company completed a $400 million private offering of senior unsecured notes due 2032 and refinanced its revolving credit facility. The net proceeds of the notes were used, together with cash on hand, (i) to redeem all of its outstanding 5.000% senior notes due 2028 and (ii) to pay transaction fees and expenses related to the notes offering and the refinancing of the revolving credit facility. As a result, the Company had more than $700 $800 million of available liquidity, including cash on hand as well as availability under its revolving credit facility. We believe that these factors will allow us to meet our anticipated funding requirements.

23 unchanged paragraphs

Deploy our calcium metal technologies to support steelmaking and other industries.

7 unchanged paragraphs

Three-month period ended July 5, October 4, 2026 as compared with three-month period ended June 29, September 28, 2025

Consolidated Income (Loss) Statement Review

1 unchanged paragraph

Net sales $ 548.4 $ 528.9 4 %

Cost of goods sold 414.6 392.0 6 %

Production margin 133.8 136.9 (2 )%

Production margin % 24.4 % 25.9 %

Marketing and administrative expenses 53.3 52.2 2 %

Provision for litigation accrual and credit losses 290.0 - *

Restructuring and other items - 5.8 *

Gain on sale of assets, net - (5.6) *

Litigation expenses 4.9 4.2 17 %

Income (loss) from operations (220.3 ) 74.6 *

Operating margin % * 14.1 %

Income (loss) before tax and equity in earnings (231.3 ) 59.1 *

Provision (benefit) for taxes on income (46.2 ) 13.9 *

Net income (loss) (182.6 ) 46.3 *

Net income (loss) attributable to Minerals Technologies Inc. $ (183.6 ) $ 45.4 *

Net sales $ 554.9 $ 532.4 4 %

Cost of goods sold 425.7 395.4 8 %

Production margin 129.2 137.0 (6 )%

Production margin % 23.3 % 25.7 %

Marketing and administrative expenses 52.0 53.0 (2 )%

Research and development expenses 5.9 5.7 4 5.6 2 %

Litigation expenses 6.7 7.5 (11 )%

Income from operations 64.8 70.9 (9 )%

Operating margin % 11.7 % 13.3 %

Interest expense, net (12.1 ) (13.6 (13.8 ) (11 (12 )%

Other non-operating income (deductions), net 1.1 (1.9 0.3 (0.5 ) *

Total non-operating deductions, net (11.0 (11.8 ) (15.5 (14.3 ) (29 (17 )%

Income before tax and equity in earnings 53.0 56.6 (6 )%

Provision for taxes on income 12.2 13.5 (10 )%

Effective tax rate 20.0 23.0 % 23.5 23.9 %

Equity in earnings of affiliates, net of tax 2.5 3.0 1.1 127 173 %

Net income 43.8 44.2 (1 )%

Net income attributable to non-controlling interests 1.0 0.9 1.1 1.2 (8 )%

Net income attributable to Minerals Technologies Inc. $ 42.7 $ 43.0 (1 )%

2 unchanged paragraphs

Jul. 5, 2026 Jun. 29, 2025

Oct. 4, 2026 Sep. 28, 2025

1 unchanged paragraph

International 273.0 50 % 11 % 247.0 47 %

Consumer & Specialties Segment $ 274.5 50 % (1 )% $ 277.7 52 %

Engineered Solutions Segment 273.9 50 % 9 % 251.2 48 %

International 267.2 48 % 3 % 259.1 49 %

Total net sales $ 548.4 554.9 100 % 4 % $ 528.9 532.4 100 %

Consumer & Specialties Segment $ 278.1 50 % 0 % $ 277.4 52 %

Engineered Solutions Segment 276.8 50 % 9 % 255.0 48 %

Total net sales $ 548.4 554.9 100 % 4 % $ 528.9 532.4 100 %

Worldwide net sales increased by 4% to $548.4 $554.9 million in the second third quarter from $528.9 $532.4 million in the prior year. Foreign exchange had a favorable impact on sales of $7 million in the second quarter of 2026.

Net sales in the United States decreased increased to $275.4 $287.7 million in the second third quarter of 2026 from $281.9 $273.3 million in the second third quarter of 2025. International sales increased to $273.0 $267.2 million from $247.0 $259.1 million in the prior year.

1 unchanged paragraph

In the second quarter of 2026, the Company filed a Plan of Reorganization in the Chapter 11 case of its subsidiary Oldco Inc. which would provide for, among other things, the funding of a trust to resolve all current and future talc related claims for alleged exposure to asbestos-contaminated talc products sold by Oldco. Accordingly, the Company recorded a charge of $290 million to increase the Company's accrual for estimated costs.

The Company recorded a $5.8 million charge in restructuring and other items primarily for the write-down of assets and other charges relating to the consolidation of two facilities and a $5.6 million net gain on the final installment for the sale of refractories manufacturing assets in China during the three-month period ending June 29, 2025.

Income (Loss) from Operations

The Company recorded a $5.8 million charge in restructuring and other items primarily for the write-down of assets and other charges relating to the consolidation of two facilities and a $5.6 million net gain on the final installment for the sale of refractories manufacturing assets in China during the three-month period ending June 29, 2025.

Cost of goods sold was $414.6 $425.7 million and represented 75.6% 76.7% of sales for the three-month period ended July 5, October 4, 2026, as compared with $392.0 $395.4 million and 74.1% 74.3% of sales in the prior year. Production margin decreased from 25.9% 25.7% of sales in the prior year to 24.4% 23.3% of sales in the second third quarter of 2026, primarily due to higher energy, transportation, and raw material costs.

Marketing and administrative costs were $53.3 $52.0 million and 9.7% 9.4% of sales for the three-month period ended July 5, October 4, 2026, as compared to $52.2 $53.0 million and 9.9% 10.0% of sales in the prior year.

Research and development expenses were $5.9 $5.7 million and represented 1.1% 1.0% of sales for the three-month period ended July 5, October 4, 2026, as compared with $5.7 $5.6 million and 1.1% of sales in the prior year.

The Company recorded litigation and settlement expenses of $4.9 $6.7 million and $4.2 $7.5 million during the three-month periods ending July 5, October 4, 2026 and June 29, September 28, 2025, respectively in connection with the bankruptcy of Oldco and lawsuits related to talc products sold by Oldco.

Income from Operations

The Company recorded a loss income from operations of $220.3 $64.8 million as compared to income of $74.6 $70.9 million in the prior year. Loss from operations includes a $290 million charge to increase the Company's accrual for estimated bankruptcy costs for the three-month period ended July 5, 2026. Income (loss) from operations includes litigation expenses in connection with Oldco's bankruptcy filing and lawsuits related to talc products sold by Oldco of $4.9 $6.7 million and $4.2 $7.5 million during the three-month periods ended July 5, October 4, 2026 and June 29, September 28, 2025, respectively.

1 unchanged paragraph

Net loss attributable to MTI shareholders was $183.6 million for the three-month period ended July 5, 2026, and included a $233.4 million charge, net of tax. This charge primarily consisted of a $290 million charge to increase the Company's accrual for estimated bankruptcy costs .

Net income attributable to MTI shareholders was $45.4 million for the three-month period ended June 29, 2025, and included a $3.5 million charge, net of tax. This charge consisted of restructuring and other items and litigation expenses, offset by a net gain on sale of assets.

In the second third quarter of 2026, non-operating deductions were $11.0 $11.8 million, as compared with $15.5 $14.3 million in the prior year. Included in other non-operating deductions in the second third quarter of 2026 was net interest expense of $12.1 million, as compared to $13.6 $13.8 million in the second third quarter of the prior year.

Provision (Benefit) for Taxes on Income

Provision (benefit) for taxes on income was $(46.2) $12.2 million, as compared with $13.9 $13.5 million in the prior year. The effective tax rate was 20.0%, 23.0%, as compared with 23.5% 23.9% in the prior year. The tax benefit was attributable to the litigation accrual.

Net Income (Loss) Attributable to MTI Shareholders

Net income attributable to MTI shareholders was $42.7 million for the three-month period ended October 4, 2026, and included a $5.1 million charge, net of tax. This charge primarily consisted of litigation and settlement expenses in connection with Oldco's bankruptcy filing and lawsuits related to talc products sold by Oldco.

Net income attributable to MTI shareholders was $43.0 million for the three-month period ended September 28, 2025, and included a $5.6 million charge, net of tax. This charge primarily consisted of litigation and settlement expenses in connection with Oldco's bankruptcy filing and lawsuits related to talc products sold by Oldco.

3 unchanged paragraphs

Household & Personal Care $ 123.4 $ 127.4 (3 )%

Specialty Additives 151.1 150.3 1 %

Total net sales $ 274.5 $ 277.7 (1 )%

Income from operations $ 29.3 $ 34.0 (14 )%

% of net sales 10.7 % 12.2 %

Income from operations was $29.3 million, as compared to $34.0 million in the prior year due to unfavorable mix as well as higher energy, transportation, and raw material costs that were not fully recovered within the quarter due to the timing of contractual pricing adjustments. Included in income from operations for the three-month period ended June 29, 2025 were $3.3 million of restructuring and other items.

Household & Personal Care $ 130.5 $ 129.8 1 %

Specialty Additives 147.6 147.6 0 %

Total net sales $ 278.1 $ 277.4 0 %

2 unchanged paragraphs

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and 145 more changes in the filing

Market risk 2 changes

Market risk represents the risk of loss that may impact our financial position, results of operations or cash flows due to adverse changes in market prices and foreign currency and interest rates. We are exposed to market risk because of changes in foreign currency exchange rates as measured against the U.S. dollar. We do not anticipate that near-term changes in exchange rates will have a material impact on our future earnings or cash flows. However, there can be no assurance that a sudden and significant decline in the value of foreign currencies would not have a material adverse effect on our financial condition and results of operations. A portion of our long-term bank debt bears interest at variable rates; therefore, our results of operations would be affected by interest rate changes to the extent of such outstanding bank debt. An immediate 10 percent change in interest rates would not have a material effect on our results of operations over the next fiscal year. A one-percent change in interest rates, inclusive of the impact of our interest rate derivatives, would result in $0.0 $4.2 million in incremental interest charges on an annual basis.

1 unchanged paragraph

In the second quarter of 2023, the Company entered into a floating to fixed interest rate swap for a notional amount of $150 million. This instrument matured in May 2026. In the second quarter of 2026, the Company entered into a new floating to fixed interest rate swap for a notional amount of $150 million. The fair value of this instrument at July 5, October 4, 2026 is an asset of $1.1 $3.8 million.

Controls and procedures 1 change

3 unchanged paragraphs

There were no changes in the Company's internal controls over financial reporting during the quarter ended July 5, October 4, 2026 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Unregistered sales of stock 8 changes

4 unchanged paragraphs

April 6 - May 3 14,933 $ 71.24 1,094,645 $ 132,271,051

May 4 - May 31 7,484 $ 80.15 1,102,129 $ 131,671,215

Total 22,417 $ 74.22

June 1 - July 5 6 - August 2 - $ - 1,102,129 $ 131,671,215

August 3 - August 30 22,671 $ 72.74 1,124,800 $ 130,022,077

August 31 - October 4 27,642 $ 68.64 1,152,442 $ 128,124,597

Total 50,313 $ 70.49

On October 16, 2024, the Company's Board of Directors authorized the Company's management to repurchase, at its discretion, up to $200 million of the Company's shares. As of July 5, October 4, 2026, 1,102,129 1,152,442 shares have been repurchased under this program for $68.3 $71.9 million, or an average price of approximately $62.00 $62.37 per share. This authorization has no expiration date.

Other information 1 change

During the three-month period ended July 5, October 4, 2026, none of our directors or executive officers adopted or terminated any Rule 10b5-1 trading arrangement or any non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K).

Exhibits 5 changes

Indenture, dated as of

October 13, 2026, by and among Minerals Technologies Inc., the subsidiary guarantors from time to time party thereto and U.S. Bank Trust Company,

National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on October 13, 2026)

Refinancing Facility

Agreement and Incremental Facility Amendment dated as of October 13, 2026, among Minerals Technologies Inc., certain subsidiaries party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on October 13, 2026)*

5 unchanged paragraphs

Risk factors 3 changes

7 unchanged paragraphs

*Pursuant to Item 601(a)(5)

of Regulation S-K, certain exhibits and schedules to this agreement have been omitted. The registrant agrees to furnish supplementally to the Securities and

Exchange Commission a copy of any omitted exhibit or schedule upon request by the Securities and Exchange Commission.

4 unchanged paragraphs