VHI

Shares of Valhi, Inc. VHI have increased 13.5% since reporting results for the second quarter of 2026, outperforming the S&P 500 index’s 0.3% decline. Over the past month, the stock has advanced 16.6% compared with the benchmark index’s 1.8% return. Valhi reported second-quarter net sales of $606.1 million, up 12.2% from $540.4 million a year earlier. Net income attributable to Valhi stockholders rose to $22.3 million from $0.9 million, while earnings per share increased to 78 cents from 3 cents. Consolidated operating income nearly doubled to $67.7 million from $35.5 million, led by stronger results in the Chemicals segment. The latest earnings per share included 21 cents from a tax-increment infrastructure reimbursement and 10 cents from the gain on an office building sale; the prior-year quarter included 31 cents from an infrastructure reimbursement. Valhi, Inc. price-consensus-eps-surprise-chart | Valhi, Inc. Quote Chemicals net sales increased 13% year over year to $558.1 million, while operating income surged 292% to $40.4 million. Titanium dioxide sales volume rose 16% to 153,000 metric tons, and production volume increased 8% to 135,000 metric tons. The gross margin expanded to 18% of sales from 13% and the operating margin improved to 7% from 2%. Component Products sales rose 8% to $43.6 million, including 8% growth in security products and 7% growth in marine components. Segment operating income climbed 41% to $8.9 million, with the operating margin widening to 20% from 16%. Real Estate Management and Development sales fell to $4.4 million from $5.7 million, reflecting a slower pace of development on previously sold parcels. Its operating income edged down to $18.4 million from $18.9 million. Management said that Chemicals maintained positive momentum as market-share gains lifted volumes across all major markets, particularly Europe. Demand improved from 2025 but remained below the historical levels, especially in North America, where elevated interest rates, economic uncertainty and subdued consumer spending persisted. Constrained industry TiO2 inventories, geopolitical instability and shipping disruptions lengthened order lead times, leaving the segment with a favorable backlog entering the third quarter. Component Products benefited from higher security-product sales to healthcare, transportation, distributors and tool-storage customers, along with increased marine-component sales to industrial customers. Management expects those favorable demand and product-mix trends to continue, although tariffs, shipping expenses and inflation in domestically sourced materials could pressure second-half margins. Chemicals’ 16% volume growth added approximately $79 million to sales and currency movements added about $10 million. Those benefits were partly offset by a 3% decline in average TiO2 selling prices, which reduced sales by roughly $15 million and a weaker mix in complementary businesses. Lower feedstock costs, fixed-cost underabsorption and restructuring benefits supported profitability. Unabsorbed fixed costs were immaterial versus approximately $20 million a year earlier. Currency changes nevertheless reduced Chemicals’ operating income by about $12 million. Real estate results included $11.3 million in infrastructure reimbursement income and a $5.8-million office-building gain. Meanwhile, quarterly interest expenses increased $0.9 million to $14.7 million because of higher debt levels and average rates, partly tempering the operating improvement. Valhi expects full-year consolidated operating income to exceed that reported in 2025, driven by higher Chemicals volumes and lower operating costs, partly offset by declining Real Estate activity as development winds down. Chemicals expects 2026 sales, gross margin and operating margin to exceed last year’s reported levels, supported by price increases, surcharges and lower-cost inventory. Component Products also projects higher full-year sales and margins. The company expects substantially all of LandWell’s $24 million of remaining deferred revenues to be recognized during 2026, though timing depends on development progress. It forecasts about $66 million in capital expenditure, plus roughly $20 million in land-development spending. General corporate expenses and interest expenses are expected to rise year over year. LandWell sold its operating office building for $6.8 million in cash, producing the $5.8-million gain. With that transaction, all saleable Henderson land and acreage had been sold by the quarter-end. Kronos also continued executing its fourth-quarter 2025 workforce restructuring. It paid $4.8 million in severance in the first half of 2026, leaving a $3.8-million accrual, and expects no further material charges. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Valhi, Inc. (VHI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Dallas, Texas, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Valhi, Inc. (NYSE: VHI) reported net income attributable to Valhi stockholders of $22.3 million, or $.78 per share, in the second quarter of 2026 compared to net income of $.9 million, or $.03 per share, in the second quarter of 2025. For the first six months of 2026, Valhi reported net income attributable to Valhi stockholders of $24.3 million, or $.85 per share, compared to $17.8 million, or $.62 per share, in the first six months of 2025. Net income attributable to Valhi stockholders increased in the second quarter of 2026 as compared to the same period of 2025 primarily due to higher operating results from the Chemicals Segment. Net income attributable to Valhi stockholders increased in the first six months of 2026 as compared to the same period of 2025 primarily due to improved operating results across all business segments. The Chemicals Segment’s net sales of $558.1 million in the second quarter of 2026 were $63.7 million, or 13%, higher than in the second quarter of 2025, and net sales of $1.1 billion in the first six months of 2026 were $83.7 million, or 9%, higher than in the first six months of 2025. The Chemicals Segment’s net sales increased in the second quarter and first six months of 2026 compared to the same periods of 2025 primarily due to market share gains across all markets and the favorable impact of changes in currency exchange rates (primarily the euro), which our Chemicals Segment estimates increased its net sales by approximately $10 million and $41 million, respectively. These favorable impacts were partially offset by lower average TiO2 selling prices and the unfavorable impact of both lower average selling prices and sales volumes within the Chemicals Segment’s complementary businesses. Our Chemicals Segment started 2026 with average TiO2 selling prices lower than at the beginning of 2025; however, its average TiO2 selling prices increased 4% during the first six months of 2026. During the second quarter of 2026, our Chemicals Segment announced and implemented various price increases and surcharges in response to higher operating costs. The table at the end of this press release shows how each of these items impacted the Chemicals Segment’s net sales. The Chemicals Segment’s operating income in the second quarter of 2026 was $40.4 million compared to $10.3 million in the second quarter of 2025. For the first six months of 2026, the Chemicals Segment’s operating income was $54.9 million compared to $51.5 million in the first six months of 2025. The Chemicals Segment’s operating income increased in both the second quarter and first six months of 2026 compared to the same periods of 2025 primarily due to higher sales volumes, lower production costs, including lower raw material costs (primarily feedstock) and lower unabsorbed fixed costs, as well as the benefits of the cost reduction initiatives implemented in the fourth quarter of 2025 designed to permanently improve our Chemicals Segment’s cost structure and operational efficiency. These favorable factors were partially offset by lower average TiO2 selling prices and the unfavorable impact of changes in currency exchange rates. Fluctuations in currency exchange rates (primarily the euro) decreased our Chemicals Segment’s operating income by approximately $12 million in the second quarter of 2026 and approximately $18 million in the first six months of 2026 compared to the same prior year periods. The Component Products Segment’s net sales were $43.6 million in the second quarter of 2026 compared to $40.3 million in the second quarter of 2025 and $84.2 million in the first six months of 2026 compared to $80.6 million in the same period of 2025. The Component Products Segment’s net sales increased in the second quarter and for the first six months of 2026 compared to the same periods in 2025 due to higher security products sales across a variety of markets including the healthcare, transportation, tool storage and distributor markets and higher marine components sales to the industrial market. Operating income attributable to the Component Products Segment was $8.9 million in the second quarter of 2026 compared to $6.3 million in the second quarter of 2025 and $16.0 million in the first six months of 2026 compared to $12.2 million for the same prior year period. The Component Products Segment’s operating income increased in the second quarter and for the first six months of 2026 compared to the same periods in 2025 due to higher sales and gross margin predominantly at the security products reporting unit and, to a lesser extent, the marine components reporting unit. The Real Estate Management and Development Segment had net sales of $4.4 million in the second quarter of 2026 compared to $5.7 million in the second quarter of 2025. For the first six months of 2026, the Real Estate Management and Development Segment had net sales of $14.1 million compared to $14.2 million in the same period of 2025. Land sales revenue is generally recognized over time based on cost inputs, and land sales revenues are dependent on spending for development activities. Net sales decreased in the second quarter of 2026 and first six months compared to the same periods in 2025 due to the slower pace of development activity for previously sold parcels within the residential/planned community as our Real Estate Management and Development Segment nears completion of its development work. This decrease in net sales for the first six months of 2026 was mostly offset by the first quarter sale of the final commercial parcel for $7.3 million, which had no further development obligations and was therefore immediately recognized as revenue. The pace of development activities is dictated by a number of factors such as city permit and design approval, approvals from the Nevada Department of Environmental Protection, and labor and materials availability. The Real Estate Management and Development Segment also recognized tax increment infrastructure reimbursements of $16.7 million ($8.7 million, or $.30 per share, net of income tax and noncontrolling interest) and $17.2 million ($8.9 million, or $.31 per share, net of income tax and noncontrolling interest) in the first six months of 2026 and 2025, respectively. Additionally, during the second quarter of 2026 the Real Estate Management and Development Segment sold the office building used in its operations and recognized a gain on the sale of approximately $5.8 million ($3.0 million, or $.10 per share, net of income tax and noncontrolling interest). Corporate expenses were 2% lower in the second quarter of 2026 and 5% lower in first six months of 2026 compared to the same respective periods in 2025 primarily due to lower environmental remediation and related costs. Interest income and other increased $.3 million in the second quarter of 2026 primarily due to increased interest income received on the Real Estate Management and Development note receivable offset by decreased average investment balances and lower average interest rates. Interest income and other decreased $.5 million in the first six months of 2026 compared to the same period of 2025 primarily due to decreased average investment balances and lower average interest rates partially offset by increased interest income received on the Real Estate Management and Development note receivable. Interest expense increased $.9 million and $2.4 million in the second quarter and first six months of 2026, respectively, compared to the same periods in 2025 primarily due to higher overall debt levels and higher average interest rates. Our net income attributable to Valhi stockholders in the first six months of 2026 includes an income tax expense of $2.0 million ($1.3 million, or $.04 per share, net of noncontrolling interest) related to the recognition of an uncertain tax position at our Chemicals Segment in connection with a German tax audit in the first quarter. The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management’s beliefs and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. Among the factors that could cause our actual future results to differ materially include, but are not limited to, the following: Future supply and demand for our products; Our ability to realize expected cost savings from strategic and operational initiatives; Our ability to integrate acquisitions into Kronos’ operations and realize expected synergies and innovations; The extent of the dependence of certain of our businesses on certain market sectors; The cyclicality of certain of our businesses (such as Kronos’ TiO2 operations); Customer and producer inventory levels; Unexpected or earlier-than-expected industry capacity expansion (such as the TiO2 industry); Changes in raw material and other operating costs (such as ore, zinc, brass, aluminum, steel and energy costs) or the implementation of tariffs on imported raw materials; Changes in the availability of raw materials (such as ore); General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs, reduce demand or perceived demand for TiO2, component products and land held for development or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, tariffs, natural disasters, terrorist acts, global conflicts and public health crises); Operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises); Technology related disruptions (including, but not limited to, cyber-attacks; software implementation, upgrades or improvements; technology processing failures; or other events) related to our technology infrastructure (including manufacturing and accounting systems) that could impact our ability to continue operations, or at key vendors which could impact our supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders; Competitive products and substitute products; Competition from Chinese suppliers with less stringent regulatory and environmental compliance requirements; Customer and competitor strategies; Potential consolidation of our competitors; Potential consolidation of our customers; Our ability to retain key customers; The impact of pricing and production decisions; Competitive technology positions; Our ability to protect or defend intellectual property rights; The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes; The ability of our subsidiaries to pay us dividends; Uncertainties associated with new product development and the development of new product features; Fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone) or possible disruptions to our business resulting from uncertainties associated with the euro or other currencies; Decisions to sell operating assets other than in the ordinary course of business; The timing and amounts of insurance recoveries; Our ability to renew or refinance credit facilities or other debt instruments in the future; Changes in interest rates; Our ability to maintain sufficient liquidity; The ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform; Our ability to utilize income tax attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria; Environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities, or new developments regarding environmental remediation or decommissioning obligations at sites related to our former operations); Government laws and regulations and possible changes therein (such as changes in government regulations which might impose various obligations on former manufacturers of lead pigment and lead-based paint, including NLI Holdings, with respect to asserted health concerns associated with the use of such products) including new environmental, sustainability, health and safety or other regulations (such as those seeking to limit or classify TiO2 or its use); The ultimate resolution of pending litigation (such as NLI Holdings’ lead pigment and environmental matters); Our ability to comply with covenants contained in our revolving bank credit facilities; Our ability to complete and comply with the conditions of our licenses and permits; Changes in construction costs in Henderson, Nevada; and Pending or possible future litigation (such as litigation related to CompX’s use of certain permitted chemicals in its production process) or other actions. Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise. Valhi, Inc. is engaged in the chemicals (TiO2), component products (security products and recreational marine components) and real estate management and development industries. ***** Investor Relations ContactBryan A. HanleySenior Vice President and TreasurerTel. 972-233-1700 VALHI, INC. AND SUBSIDIARIES CONDENSED SUMMARY OF INCOME(Unaudited)(In millions, except earnings per share) VALHI, INC. AND SUBSIDIARIES IMPACT OF PERCENTAGE CHANGE IN CHEMICAL SEGMENT'S NET SALES (Unaudited)

Dallas, Texas, May 07, 2026 (GLOBE NEWSWIRE) -- Valhi, Inc. (NYSE: VHI) reported net income attributable to Valhi stockholders of $2.0 million, or $.07 per share, in the first quarter of 2026 compared to net income of $16.9 million, or $.59 per share, in the first quarter of 2025. Net income attributable to Valhi stockholders decreased in the first quarter of 2026 compared to the first quarter of 2025 primarily due to lower operating results from the Chemicals Segment, partially offset by higher operating income from the Component Products and the Real Estate Management and Development Segments. The Chemicals Segment’s net sales of $509.8 million in the first quarter of 2026 were $20.0 million, or 4%, higher than in the first quarter of 2025. The Chemicals Segment’s net sales increased in the first quarter of 2026 compared to the first quarter of 2025 primarily due to the effects of higher sales volumes in its North American, Latin American and export markets and the favorable impact of changes in currency exchange rates (primarily the euro), which we estimate increased net sales by approximately $30 million. These increases were partially offset by lower sales volumes in the European market and lower average TiO2 selling prices. Our Chemicals Segment started 2026 with average TiO2 selling prices lower than at the beginning of 2025; however, its average TiO2 selling prices increased 2% during the first quarter of 2026 as our Chemicals Segment works to recover pricing lost during 2025. The table at the end of this press release shows how each of these items impacted the Chemicals Segment’s net sales. The Chemicals Segment’s operating income in the first quarter of 2026 was $14.5 million compared to operating income of $41.2 million in the first quarter of 2025. The Chemicals Segment’s operating income decreased in the first quarter of 2026 compared to the first quarter of 2025 primarily due to the effects of lower average TiO2 selling prices, lower production volumes, and the unfavorable impact of changes in currency exchange rates, partially offset by higher sales volumes and lower productions costs. Lower production costs benefited in part from cost reduction initiatives implemented in the fourth quarter of 2025, including workforce reductions and other measures, which were designed to permanently improve our Chemicals Segment’s cost structure and enable more efficient operation of its facilities at lower production rates for extended periods. Fluctuations in currency exchange rates (primarily the euro) decreased our Chemicals Segment’s operating income by approximately $6 million in the first quarter of 2026 compared to the first quarter of 2025. The Component Products Segment’s net sales were $40.6 million in the first quarter of 2026 compared to $40.3 million in the first quarter of 2025. The Component Products Segment’s first quarter net sales increased over the comparable 2025 period due to higher marine components sales to the industrial market partially offset by lower security products sales. Operating income attributable to the Component Products Segment was $7.1 million in the first quarter of 2026 compared to $5.9 million in the first quarter of 2025. The Component Products Segment’s operating income increased in the first quarter of 2026 compared to the same period in 2025 primarily due to a higher gross margin at the security products reporting unit as a result of a more favorable customer and product mix, and, to a lesser extent, the impact of higher sales at the marine components reporting unit. The Real Estate Management and Development Segment had net sales of $9.7 million in the first quarter of 2026 compared to $8.5 million in the first quarter of 2025. Land sales revenue is generally recognized over time based on cost inputs, and land sales revenues are dependent on spending for development activities. Net sales increased $1.2 million in the first quarter of 2026 compared to the same period in 2025 primarily due to the sale of the final commercial parcel for $7.3 million, which had no further development obligations and was therefore recognized immediately as revenue. This increase was partially offset by effects of a slower pace of development activity for previously sold parcels within the residential/planned community as the development work nears completion. The pace of development activities is dictated by a number of factors such as city permit and design approval, approvals from the Nevada Department of Environmental Protection, labor and materials availability, and the amount of remaining development obligations. The Real Estate Management and Development Segment also recognized tax increment infrastructure reimbursement of $5.4 million ($2.8 million, or $.10 per share, net of income tax and noncontrolling interest) in the first quarter of 2026 which is included in operating income. Corporate expenses in the first quarter of 2026 declined slightly compared to the same period in 2025 primarily due to lower administrative and environmental remediation and related costs. Interest income and other decreased $.8 million in the first quarter of 2026 compared to the first quarter of 2025 primarily due to decreased average investment balances and lower average interest rates. Interest expense increased $1.5 million in the first quarter of 2026 compared to the same period in 2025 primarily due to higher overall debt levels and higher average interest rates. Our net income attributable to Valhi stockholders in the first quarter of 2026 includes an income tax expense of $2.0 million ($1.3 million, or $.04 per share, net of noncontrolling interest) related to the recognition at our Chemicals Segment of an uncertain tax position related to a German tax audit. The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management’s beliefs and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. Among the factors that could cause our actual future results to differ materially include, but are not limited to, the following: Future supply and demand for our products; Our ability to realize expected cost savings from strategic and operational initiatives; Our ability to integrate acquisitions into Kronos’ operations and realize expected synergies and innovations; The extent of the dependence of certain of our businesses on certain market sectors; The cyclicality of certain of our businesses (such as Kronos’ TiO2 operations); Customer and producer inventory levels; Unexpected or earlier-than-expected industry capacity expansion (such as the TiO2 industry); Changes in raw material and other operating costs (such as ore, zinc, brass, aluminum, steel and energy costs) or the implementation of tariffs on imported raw materials; Changes in the availability of raw materials (such as ore); General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs, reduce demand or perceived demand for TiO2, component products and land held for development or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, tariffs, natural disasters, terrorist acts, global conflicts and public health crises); Operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises); Technology related disruptions (including, but not limited to, cyber-attacks; software implementation, upgrades or improvements; technology processing failures; or other events) related to our technology infrastructure (including manufacturing and accounting systems) that could impact our ability to continue operations, or at key vendors which could impact our supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders; Competitive products and substitute products; Competition from Chinese suppliers with less stringent regulatory and environmental compliance requirements; Customer and competitor strategies; Potential consolidation of our competitors; Potential consolidation of our customers; Our ability to retain key customers; The impact of pricing and production decisions; Competitive technology positions; Our ability to protect or defend intellectual property rights; The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes; The ability of our subsidiaries to pay us dividends; Uncertainties associated with new product development and the development of new product features; Fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone) or possible disruptions to our business resulting from uncertainties associated with the euro or other currencies; Decisions to sell operating assets other than in the ordinary course of business; The timing and amounts of insurance recoveries; Our ability to renew or refinance credit facilities or other debt instruments in the future; Changes in interest rates; Our ability to maintain sufficient liquidity; The ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform; Our ability to utilize income tax attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria; Environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities, or new developments regarding environmental remediation or decommissioning obligations at sites related to our former operations); Government laws and regulations and possible changes therein (such as changes in government regulations which might impose various obligations on former manufacturers of lead pigment and lead-based paint, including NL, with respect to asserted health concerns associated with the use of such products) including new environmental, sustainability, health and safety or other regulations (such as those seeking to limit or classify TiO2 or its use); The ultimate resolution of pending litigation (such as NL’s lead pigment and environmental matters); Our ability to comply with covenants contained in our revolving bank credit facilities; Our ability to complete and comply with the conditions of our licenses and permits; Changes in construction costs in Henderson, Nevada; and Pending or possible future litigation (such as litigation related to CompX’s use of certain permitted chemicals in its productions process) or other actions. Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise. Valhi, Inc. is engaged in the chemicals (TiO2), component products (security products and recreational marine components) and real estate management and development industries. ***** Investor Relations Contact Bryan A. Hanley Senior Vice President and Treasurer Tel. 972-233-1700 VALHI, INC. AND SUBSIDIARIES CONDENSED SUMMARY OF INCOME (In millions, except earnings per share) VALHI, INC. AND SUBSIDIARIES IMPACT OF PERCENTAGE CHANGE IN CHEMICAL SEGMENT'S NET SALES (unaudited)

Vitalhub reported a fiscal 2025 milestone with total revenue > CAD 100 million, ARR of CAD 96.1 million (net organic growth of 10%), Q4 revenue of CAD 31.4 million (+52% YoY), adjusted EBITDA of CAD 7.4 million (24% margin), and ended the year with CAD 119.2 million cash and no debt. The integrations of Novari and Induction are progressing well and beginning to deliver cost synergies, supporting a “really strong” services backlog and pipeline, though Q4 seasonality and NHS restructuring have slowed some U.K. buying decisions. Vitalhub is beginning to monetize AI (early revenue from a Novari AI project) with broader contributions expected mid-to-late 2026, and the company favors deploying cash for acquisitions over buybacks while targeting a return to a “Rule of 40” profile (~27–28% EBITDA margin with 12–13% growth), with M&A activity planned for 2026. Interested in Vitalhub Corp.? Here are five stocks we like better. Vitalhub (TSE:VHI) executives highlighted a milestone year on the company’s fiscal 2025 fourth-quarter earnings call, pointing to revenue surpassing CAD 100 million, double-digit organic growth in annual recurring revenue, and continued progress integrating recent acquisitions. Management also discussed the pace of cost synergies, the early stages of monetizing artificial intelligence initiatives, and ongoing merger-and-acquisition activity. CFO Brian Goffenberg said Vitalhub generated over CAD 100 million in total revenue for full-year 2025, calling it a company milestone. He reported annual recurring revenue (ARR) of CAD 96.1 million at year-end, representing net organic growth of 10% versus the prior year. → Forget Chipmakers: Walmart and Target Are the Real AI Plays For the fourth quarter, Vitalhub reported total revenue of CAD 31.4 million, up 52% year-over-year, but “slightly lower than Q3 primarily due to the unusually high services revenue in Q3,” according to Goffenberg. Recurring revenue (term license maintenance support) was CAD 23.6 million, representing 75% of total revenue. Virtual care term license revenue was CAD 2.4 million, down 4% sequentially. Perpetual license revenue was CAD 0.5 million, up from CAD 0.1 million in the prior-year quarter. Service, hardware, and other revenue was CAD 4.9 million, which management described as normalized sequentially versus a stronger Q3. Gross margin was 79%, down from 81% in the prior-year quarter. Adjusted EBITDA was CAD 7.4 million, or 24% of revenue, compared to CAD 5.0 million (25% margin) a year earlier, and 22% in Q3 as the company “continue[s] to gain synergies from our latest acquisitions and operations,” Goffenberg said. → Expedia Stock Turns Volatile After Rally. Where Does It Go Next? Vitalhub ended the year with CAD 119.2 million of cash and no debt. CEO Dan Matlow said the integrations of Novari and Induction were “going really well” and described them as “pretty good contributors,” adding that the impact is visible in the company’s cost lines as synergies begin to flow through. → The SkyWater Deal: IonQ's Bid for Quantum Supremacy Matlow also addressed a reporting delay, attributing it to “growth pains” associated with a new auditor and new internal teams rather than anything “material.” He said the company booked results earlier than the prior year and called the timing decision “probably not the smartest thing that we did,” while adding that the company was “in great spirits” with EY going forward. On operating expenses, Matlow said management continues to move costs out of the business, although some savings could be offset by investments in AI initiatives. He noted there is still work to do, including moving resources and rationalizing development operations, pointing out that both Novari and Induction had their own offshore development groups. Matlow also said Induction has been integrated into Vitalhub’s broader U.K. operations. Discussing bookings and demand, Matlow described Q4 as “challenging” due to year-end timing and procurement slowdowns during the holiday period, noting that customers often push decisions into Q1 to use budgets. He said there were “a lot of deals” in the quarter, “just not the size of the deals,” and reiterated that booking performance will not move “in a straight line.” Matlow said Vitalhub’s services backlog is “really strong” entering the new year and called out a healthy pipeline for Novari in both Canada and the U.K., including activity tied to provincial initiatives. He added that some public-sector customers do not allow the company to announce deals at signing. On the U.K. market, Matlow said NHS restructuring has primarily affected the SHREWD product line. He described reorganizations and mergers among regional oversight bodies (ICBs), including employee cuts, as slowing purchasing decisions. However, he suggested it could become an opportunity once “the dust settles,” while noting it may take “a few more quarters.” Matlow added that referral-management demand for products such as Novari and Strata remains active, as operational groups continue to coordinate across regions. Management repeatedly emphasized that Vitalhub’s AI efforts are being driven by customer needs and targeted use cases rather than broad disruption. Matlow said the company has established AI development teams and projects, and has already seen revenue from one Novari AI project. He said Vitalhub expects AI projects to contribute to revenue “through the middle to the end of 2026” as offerings move into the portfolio. In Q&A, Matlow described how product managers identified AI use cases and prioritized them based on customer demand. He cited several examples: Novari: an AI-related module for protocolling within imaging solutions; Matlow said customers bought it before it was built and helped with design. Transcription and case management/EHR-related workflows: described as “low-hanging fruit,” with customers already participating; Matlow said the company hopes to have something in production midyear and sees potential for uplifts later in the year. SHREWD: projects using voice to query analytics and data more directly, with partners, with management hoping for incremental revenue. Matlow also said some customers have directly funded development, including paying the company to build transcription capabilities. Internally, he said Vitalhub is embedding AI into development, sales, and support processes, citing tools such as Gong for sales call transcription and upgrades to Freshdesk, while also exploring NetSuite AI modules. He noted that compliance and security requirements require controlled deployment. On customer purchasing behavior, Matlow said AI is not currently “making or breaking” deals or churn, describing healthcare as slower-moving than other sectors, but he characterized AI as an opportunity to add modules and functionality across the installed base. He also discussed pricing dynamics, noting Vitalhub itself is charged on a usage basis for some AI components and may need to pass those costs through transparently. Matlow said the company’s view is that it needs to build and train its own models rather than relying on third-party layers in order to make AI economically viable. On cash flow, Matlow pointed to timing factors and renewal cycles. He said a significant portion of the Induction stream, including Attend Anywhere, renews at the end of Q1, which is a “big cash driver.” He also said accounts receivable was higher than desired, attributing part of that to billing and collection setup challenges at Induction and Novari that have been “improved… tremendously.” He suggested Q2 is “probably our big cash collection item,” citing the timing of large deals and collections in Q1 and Q2. Regarding capital allocation, Matlow said the company has considered share repurchases in light of stock price weakness, but believes cash is better deployed toward acquisitions where it expects higher returns. He said the company remains focused on building financial performance and following the board’s mandate. On M&A, Matlow said Vitalhub is actively working on deals and expects to complete acquisitions in 2026. He indicated the competitive backdrop has shifted somewhat, with more scrutiny from private equity and fewer situations where PE drives up prices, while noting the presence of “tired investors” in some companies facing the prospect of selling at lower valuations than prior financing rounds. He said Vitalhub’s valuation methodology remains consistent and that opportunities to do deals at its preferred prices are available in “a bunch of scenarios.” When asked about deal size, Matlow said Vitalhub would use debt “if the business was right” and could service the debt, but described the company as traditionally conservative. On geography, he suggested the company is looking more toward Europe than Asia-Pacific. Looking ahead, Matlow reiterated a target profile of returning to a “Rule of 40” model and said management continues to aim for a roughly 27%-28% EBITDA margin paired with 12%-13% growth over time, emphasizing that progress depends on both continued integration-driven cost reductions and adding higher-margin ARR without proportionate cost increases. Vitalhub Corp is Canada-based firm that develops technology solutions for health and human services providers in the mental health (child through adult), long term care, community health service, home health, social service, and acute care sectors. Its technologies include blockchain, mobile, patient flow, web-based assessment, and electronic health record solutions. The article "Vitalhub Q4 Earnings Call Highlights" was originally published by MarketBeat.

Annual Recurring Revenue (“ARR”)⁽¹⁾ up 35% YoY to $96.1 million Total Revenue up 52% YoY to $31.4 million Adjusted EBITDA⁽¹⁾ up 47% YoY to $7.4 million TORONTO, March 18, 2026 (GLOBE NEWSWIRE) -- Vitalhub Corp. (TSX:VHI) (OTCQX:VHIBF) (the “Company” or “VitalHub”) announced today it has filed its Consolidated Financial Statements and Management's Discussion and Analysis report for the year ended December 31, 2025 with the Canadian securities authorities. These documents may be viewed under the Company’s profile at www.sedarplus.com. “2025 was a milestone year for VitalHub, surpassing $100 million in revenue. In the fourth quarter, we achieved 10% annual organic ARR⁽¹⁾ growth and 24% adjusted EBITDA as a percentage of revenue⁽¹⁾,” said Dan Matlow, CEO of VitalHub. “We made significant acquisitions and filled in gaps in our portfolio that support our cross-selling activities globally. Our adjusted EBITDA as a percentage of revenue improved quarter over quarter as we commenced integration of the new acquisitions and we expect to realise further improvement in 2026. We are leveraging AI in our product roadmap and internally from a productivity perspective, as we continue to optimize the organization as one global team. We have a strong balance sheet as we consider acquisition opportunities of all sizes in our core and adjacent geographies. We are excited for the year ahead.” VitalHub’s quarterly investor conference call will take place on Thursday, March 19, 2026, at 8:00am EST. To register for the conference call please visit: https://us06web.zoom.us/webinar/register/WN_k8_Av320RimXFXW0CFzQEA Fourth Quarter 2025 Highlights ARR⁽¹⁾ as at December 31, 2025 was $96,149,750 as compared to $93,693,789 at September 30, 2025, an increase of $2,455,961 or 3%. Over the previous quarter, ARR movement in Q4 2025 from Q3 2025 was attributable to the following: Organic growth of $1,881,405 or 2%. Gain of $574,556 due to fluctuations in foreign exchange rates. Revenue of $31,390,374 as compared to $20,590,779 in the equivalent prior year period, an increase of $10,799,595 or 52%. Gross profit as a percentage of revenue was 79% in Q4 2025 as compared to 81% in the equivalent prior year period. Net income before income taxes of $750,087 as compared to $173,000 in the equivalent prior year period. Net income of $4,067,533 as compared to $787,244 in the equivalent prior year period. EBITDA⁽¹⁾ of $3,285,082 as compared to $1,875,370 in the equivalent prior year period. Adjusted EBITDA⁽¹⁾ of $7,428,508 or 24% of revenue, as compared to $5,046,758 or 25% of revenue in the equivalent prior year period, an increase of $2,381,750 or 47%. Annual 2025 Highlights ARR⁽¹⁾ as at December 31, 2025 was $96,149,750 as compared to $71,054,210 at December 31, 2024, an increase of $25,095,540 or 35%. Over the previous year, ARR movement in Q4 2025 from Q4 2024 was attributable to the following: Organic growth of $7,231,031 or 10%. Acquisition growth of $15,870,000 or 22%. Gain of $1,994,509 due to fluctuations in foreign exchange rates. Revenue of $108,966,918 as compared to $68,594,310 in the equivalent prior year period, an increase of $40,372,608 or 59%. Gross profit as a percentage of revenue was 80% compared to 81% in the prior year. Net income before income taxes of $5,901,401 as compared to $5,895,758 in the equivalent prior year period. Net income of $6,110,963 as compared to $2,999,045 in the equivalent prior year period EBITDA⁽¹⁾ of $14,634,782 as compared to $9,950,872 in the prior year. Adjusted EBITDA⁽¹⁾ of $26,554,099 or 24% of revenue, as compared to $17,840,272 or 26% of revenue in the equivalent prior year period, an increase of $8,713,827 or 49%. Cash on hand and short-term investments as at December 31, 2025 was $119,180,625 compared to $56,574,904 as at December 31, 2024. (1) Non-IFRS or supplementary financial measure. Selected Financial Information About VitalHub VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub's comprehensive product suite includes electronic health records, operational intelligence, and workforce automation solutions that serve over 1,300 clients across the UK, Canada, and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 700 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX:VHI) (OTCQX:VHIBF), please visit www.vitalhub.com and LinkedIn. Contact Information Christian Sgro, CPA, CA, CFA Head of IR and M&A Specialist (365) 363-6433 [email protected] Dan Matlow Chief Executive Officer, Director (416) 727-9061 [email protected] Cautionary Statement Certain statements contained in this news release may constitute "forward-looking information" or "financial outlook" within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Non-IFRS and Other Measures VitalHub uses certain financial and operating performance measures that management believes provide meaningful information in assessing the Company's underlying performance. Readers are cautioned that these measures may not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Accordingly, non-IFRS and supplementary financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Definitions, reconciliations, and an explanation of how the Company's non-IFRS and supplementary financial measures provide useful information to an investor are included below. Annual recurring revenue (“ARR”) Annual recurring revenue is a supplementary financial measure defined as annual renewable software license fees and maintenance services. The Company defines ARR as the recurring revenue that is expected based on yearly subscriptions of the renewable software license fees and maintenance services. Earnings before interest, taxation, depreciation, and amortization (“EBITDA”) EBITDA is a non-IFRS measure used by management to evaluate operational performance. It is also a common measure that is reported on and used by investors in determining a company’s ability to incur and service debt, as well as a valuation methodology. EBITDA is a non-IFRS measure and should not be considered an alternative to operating income or net income (loss) in measuring the Company’s performance. The following chart reflects the calculation of the Company’s EBITDA: Adjusted EBITDA and Adjusted EBITDA as a percentage of revenue Adjusted EBITDA is a non-IFRS measure used by management to evaluate cash flows and the Company’s ability to service debt. Adjusted EBITDA is a non-IFRS measure and should not be considered an alternative to operating income or net income (loss) in measuring the Company’s performance. Adjusted EBITDA as a percentage of revenue expresses Adjusted EBITDA as a percentage of total revenue. The following chart reflects the Company’s calculation of Adjusted EBITDA:

Dallas, Texas, March 10, 2026 (GLOBE NEWSWIRE) -- Valhi, Inc. (NYSE: VHI) reported a net loss attributable to Valhi stockholders of $53.2 million, or $1.86 per share, in the fourth quarter of 2025 compared to net income of $22.8 million, or $.80 per share, in the fourth quarter of 2024. For the full year of 2025, Valhi reported a net loss attributable to Valhi stockholders of $57.6 million, or $2.02 per share, compared to net income of $108.0 million, or $3.79 per share, for the full year of 2024. Net income attributable to Valhi stockholders decreased in the fourth quarter and full year of 2025 as compared to the same periods in 2024 primarily due to lower operating results from the Chemicals Segment. Net loss attributable to Valhi stockholders in the fourth quarter of 2025 includes a non-cash deferred income tax expense of $8.5 million related to the recognition of a valuation allowance on our Chemicals Segment’s German interest deduction limitation deferred tax asset ($5.6 million, or $.20 per share, net of noncontrolling interest) and for the full year of 2025 includes the recognition of a non-cash deferred income tax expense of $19.3 million to reduce the Chemicals Segment’s net German deferred tax asset as a result of the German tax rate reduction in the third quarter ($12.8 million, or $.45 per share, net of noncontrolling interest). Net income attributable to Valhi stockholders in the fourth quarter of 2024 includes aggregate income of $31.4 million ($20.6 million, or $.72 per share, net of tax and noncontrolling interest) related to the settlement of a liability for an environmental remediation site. As previously reported, effective July 16, 2024, the Chemicals Segment acquired the 50% joint venture interest in Louisiana Pigment Company, L.P. (“LPC) previously held by Venator Investments, Ltd. Prior to the acquisition, the Chemicals Segment held a 50% joint venture interest in LPC. Following the acquisition, LPC became a wholly-owned subsidiary of the Chemicals Segment. We accounted for the acquisition as a business combination. The results of operations of LPC have been included in our results of operations beginning as of the acquisition date. Net income for the full year of 2024 includes the recognition of a non-cash gain of $64.5 million ($33.6 million, or $1.18 per share, net of tax and noncontrolling interest) associated with the remeasurement of the investment in LPC as a result of the acquisition. Net loss for the full year of 2025 includes the recognition of a non-cash gain of $4.6 million ($2.4 million, or $.08 per share, net of tax and noncontrolling interest) associated with the remeasurement of the earn-out liability initially recorded in connection with the LPC acquisition. The Chemicals Segment’s net sales of $418.3 million in the fourth quarter of 2025 were $4.8 million, or 1%, lower than in the fourth quarter of 2024, and net sales of $1.9 billion in the full year of 2025 were $27.7 million, or 1%, lower than the full year of 2024. The Chemicals Segment’s net sales decreased in the fourth quarter of 2025 compared to the fourth quarter of 2024 primarily due to the net effects of lower average TiO2 selling prices, higher market share gains in its European markets and changes in product mix, primarily due to lower sales volumes in its complementary businesses. The Chemicals Segment’s net sales decreased for the full year of 2025 compared to the same period in 2024 due to the effects of lower average TiO2 selling prices somewhat offset by an increase in sales volumes (primarily in its European, North American and Latin American markets). The Chemicals Segment ended 2025 with average TiO2 selling prices 10% lower than the beginning of 2025. Average TiO2 selling prices were 8% lower in the fourth quarter of 2025 as compared to the fourth quarter of 2024 and 4% lower for the full year of 2025 as compared to the full year of 2024. Fluctuations in currency exchange rates (primarily the euro) also affected net sales comparisons, increasing the Chemicals Segment’s net sales by approximately $13 million in the fourth quarter of 2025 and by approximately $24 million in the full year of 2025 as compared to the same prior year periods. The table at the end of this press release shows how each of these items impacted the Chemicals Segment’s net sales. The Chemicals Segment’s operating loss in the fourth quarter of 2025 was $60.1 million compared to operating income of $32.6 million in the fourth quarter of 2024. For the full year of 2025, the Chemicals Segment’s operating loss was $24.5 million compared to operating income of $138.5 million in the full year of 2024. The Chemicals Segment’s operating income decreased in the fourth quarter of 2025 compared to the fourth quarter of 2024 primarily due to the effects of higher unabsorbed fixed production costs resulting from reduced operating rates at its production facilities, lower average TiO2 selling prices and costs incurred related to workforce reduction initiatives of approximately $10.3 million. The Chemicals Segment’s operating loss in the fourth quarter of 2025 includes approximately $54 million of unabsorbed fixed production and other manufacturing costs associated with production curtailments at its facilities. The Chemicals Segment’s operating income decreased in the full year of 2025 compared to the full year of 2024 primarily due to the effect of approximately $111 million in unabsorbed fixed production costs recognized as a result of reduced operating rates at its production facilities somewhat offset by lower production costs (primarily raw materials). The Chemicals Segment operated its production facilities at overall average capacities of 77% of practical capacity utilization in the full year of 2025 (93%, 81%, 80% and 55% in the first, second, third and fourth quarters of 2025, respectively) compared to 96% in full year of 2024 (87%, 99%, 92% and 97% in the first, second, third and fourth quarters of 2024, respectively). Fluctuations in currency exchange rates (primarily the euro) for the fourth quarter and full year of 2025 decreased our Chemicals Segment’s operating loss by approximately $3 million and $8 million, respectively, as compared to the same prior year periods. The Component Products Segment’s net sales were $37.7 million in the fourth quarter of 2025 compared to $38.4 million in the fourth quarter of 2024 and $158.3 million in the full year of 2025 compared to $145.9 million in the full year of 2024. The Component Products Segment’s net sales decreased in the fourth quarter of 2025 compared to the same period in 2024 predominantly due to lower security products sales to the healthcare market, partially offset by higher Marine Components sales to the industrial market. Net sales increased for the full year of 2025 compared to the same period in 2024 primarily due to higher Security Products sales to the government security market and higher marine components sales to various markets including the towboat, government and industrial markets Operating income attributable to the Component Products Segment was $5.6 million in the fourth quarter of 2025 compared to $4.9 million in the fourth quarter of 2024 and $22.6 million in the full year of 2025 compared to $17.0 million in the full year of 2024. The Component Products Segment’s operating income increased in the fourth quarter of 2025 compared to the same period in 2024 primarily due to higher sales at marine components as well as improved gross margins at each of the security products and marine components reporting units. The Component Product’s Segment’s operating income increased for the full year of 2025 compared to 2024 primarily due to higher sales and improved gross margins at each of the security products and marine components reporting units. The Real Estate Management and Development Segment had net sales of $38.5 million in the fourth quarter of 2025 compared to $19.4 million in the fourth quarter of 2024. For the full year of 2025 the Real Estate Management and Development Segment had net sales of $59.3 million compared to $71.8 million in the same period of 2024. Land sales revenue is generally recognized over time based on cost inputs, and land sales revenues are dependent on spending for development activities. During the fourth quarter of 2025, our Real Estate Management and Development Segment closed on three parcels including approximately $6.3 million related to parcels with no further development obligations which were immediately recognized as revenue. Land sales revenues for the full year of 2025 decreased compared to the full year of 2024 primarily due to the net effects of a slower pace of development activity for previously sold parcels within the residential/planned community as our development work nears completion offset by additional land sale revenue in the fourth quarter of 2025 related to the sale of three parcels noted above. The pace of development activities is dictated by a number of factors such as city permit and design approval, approvals from the Nevada Department of Environmental Protection, labor and materials availability, and the amount of remaining development obligations. The Real Estate Management and Development Segment also recognized tax increment infrastructure reimbursements of $34.2 million ($17.8 million, or $.62 per share, net of income tax and noncontrolling interest) in the full year of 2025 and $30.3 million ($15.7 million, or $.55 per share, net of income tax and noncontrolling interest) in the full year of 2024 which are included in operating income. Excluding the effect of the environmental remediation settlement noted above, corporate expenses in the fourth quarter and full year of 2025 were comparable to the same periods in 2024. Interest income and other decreased $1.4 million in the fourth quarter and $5.4 million in the full year of 2025 compared to the same periods of 2024 primarily due to lower interest rates and decreased average investment balances. Interest expense increased $1.9 million in the fourth quarter of 2025 and $7.2 million in the full year of 2025 compared to the same periods in 2024 due to higher average debt balances and higher interest rates. In addition, interest expense in the first nine months of 2024 includes a charge of $1.5 million for the write-off of deferred financing costs at the Chemicals Segment. Other components of net periodic pension and OPEB expense of $32.7 million for the full year of 2025 and $30.3 million for the fourth quarter of 2025 includes a $28.7 million settlement loss incurred during the fourth quarter of 2025 related to the termination and buy-out of our U.S. pension plan ($17.6 million, or .62 per share, net of tax and noncontrolling interest). The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management’s beliefs and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. Among the factors that could cause our actual future results to differ materially include, but are not limited to, the following: Future supply and demand for our products; Our ability to realize expected cost savings from strategic and operational initiatives; Our ability to integrate acquisitions into Kronos’ operations and realize expected synergies and innovations; The extent of the dependence of certain of our businesses on certain market sectors; The cyclicality of certain of our businesses (such as Kronos’ TiO2 operations); Customer and producer inventory levels; Unexpected or earlier-than-expected industry capacity expansion (such as the TiO2 industry); Changes in raw material and other operating costs (such as ore, zinc, brass, aluminum, steel and energy costs), including as a result of additional or changed tariffs on imported raw materials; Changes in the availability of raw materials (such as ore); General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs, reduce demand or perceived demand for TiO2, component products and land held for development or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, tariffs, natural disasters, terrorist acts, global conflicts and public health crises); Operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises); Technology related disruptions (including, but not limited to, cyber-attacks; software implementation, upgrades or improvements; technology processing failures; or other events) related to our technology infrastructure (including manufacturing and accounting systems) that could impact our ability to continue operations, or at key vendors which could impact our supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders; Competitive products and substitute products; Competition from Chinese suppliers with less stringent regulatory and environmental compliance requirements; Customer and competitor strategies; Our ability to retain key customers; Potential consolidation of our customers; The impact of pricing and production decisions; Competitive technology positions; Our ability to protect or defend intellectual property rights; The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes; The ability of our subsidiaries to pay us dividends; Uncertainties associated with new product development and the development of new product features; Fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone) or possible disruptions to our business resulting from uncertainties associated with the euro or other currencies; Decisions to sell operating assets other than in the ordinary course of business; The timing and amounts of insurance recoveries; Our ability to renew or refinance credit facilities or other debt instruments in the future; Changes in interest rates; Our ability to maintain sufficient liquidity; The ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform; Our ability to utilize income tax attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria; Environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities, or new developments regarding environmental remediation or decommissioning obligations at sites related to our former operations); Government laws and regulations and possible changes therein (such as changes in government regulations which might impose various obligations on former manufacturers of lead pigment and lead-based paint, including NL, with respect to asserted health concerns associated with the use of such products) including new environmental, sustainability, health and safety or other regulations (such as those seeking to limit or classify TiO2 or its use); The ultimate resolution of pending litigation (such as NL’s lead pigment and environmental matters); Our ability to comply with covenants contained in our revolving bank credit facilities; Our ability to complete and comply with the conditions of our licenses and permits; Changes in construction costs in Henderson, Nevada; and Pending or possible future litigation (such as litigation related to CompX’s use of certain permitted chemicals in its productions process) or other actions. Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise. Valhi, Inc. is engaged in the chemicals (TiO2), component products (security products and recreational marine components) and real estate management and development industries. ***** Investor Relations Contact Bryan A. Hanley Senior Vice President and Treasurer Tel. 972-233-1700 VALHI, INC. AND SUBSIDIARIES CONDENSED SUMMARY OF OPERATIONS (In millions, except earnings per share) VALHI, INC. AND SUBSIDIARIES IMPACT OF PERCENTAGE CHANGE IN CHEMICAL SEGMENT'S NET SALES (unaudited)