The Company has prepared these unaudited condensed consolidated financial statements in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the SEC. Accordingly, the unaudited Condensed Consolidated Financial Statements do not include all information and disclosure required by U.S. GAAP for annual financial statements. The December 31, 2025 Condensed Consolidated Balance Sheet information contained in this Quarterly Report on Form 10-Q was derived from the 2025 audited consolidated financial statements. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of management, all adjustments (all of which are of a normal recurring nature) that are necessary for a fair statement are reflected in these unaudited Condensed Consolidated Financial Statements.

The Company’s cash flow forecasts, existing cash and cash equivalents, borrowings available under the Senior Secured Credit Facilities and the AR Facility indicate sufficient liquidity to fund the Company’s operations for at least the next twelve months. As such, the Company’s unaudited Consolidated Financial Statements have been prepared on the basis that it will continue as a going concern for a period extending beyond twelve months from the date the unaudited Consolidated Financial Statements are issued. This assessment includes the expected ability to meet required financial covenants and the continued ability to draw down on the Senior Secured Credit Facilities (see Note 8, Debt and Credit Agreements).

During the year ended December 31, 2025, management identified certain errors related to the measurement of certain aspects of the defined benefit pension obligation associated with the U.K. pension plan (the “Plan”) administered by the Company. The errors related to the historic application of certain provisions governing pension benefits in the actuarial estimation of the liabilities for certain acquired pension plans merged into the Plan. The errors were identified by the Company during a review of the Plan in preparation for the potential buy-out of the Plan’s liabilities by an insurance company.

Management evaluated the identified errors in accordance with ASC 250, Accounting Changes and Error Corrections, and applicable SEC guidance, including SAB 99, considering both quantitative and qualitative factors. Management concluded that the errors were not material to the Company’s previously issued consolidated financial statements for any individual period. However, due to the cumulative impact of these errors, the Company revised the prior-period financial statements.

The revisions primarily affected Retirement plan assets and Retained earnings with corresponding impacts to Defined benefit pension income (expense) and Accumulated other comprehensive income (loss). In connection with the revision, the Company also corrected other previously identified immaterial errors. The revision did not impact the Company’s previously reported net cash flows or compliance with debt covenants.


	Three Months Ended March 31, 2025
(In thousands, except per share amounts)	As Previously Reported		Revision		As Revised
Revenues from continuing operations:
Service revenues	$	476,840	$	(377)	$	476,463

Total revenues	548,284		(377)		547,907

Costs and expenses from continuing operations:

Cost of products sold	51,361		1,017		52,378
Total costs and expenses	517,629		1,017		518,646
Operating income (loss) from continuing operations	30,655		(1,394)		29,261

Defined benefit pension income (expense)	(5,033)		(168)		(5,201)
Income (loss) from continuing operations before income taxes and equity in income	(3,110)		(1,562)		(4,672)
Income tax benefit (expense) from continuing operations	(7,946)		5,945		(2,001)
Net income (loss)	(12,195)		4,383		(7,812)
Net income (loss) attributable to Enviri Corporation	$	(13,396)	$	4,383	$	(9,013)

Amounts attributable to Enviri Corporation common stockholders:
Income (loss) from continuing operations, net of tax	$	(12,229)	$	4,383	$	(7,846)
Net income (loss) attributable to Enviri Corporation common stockholders	$	(13,396)	$	4,383	$	(9,013)

Basic earnings (loss) per share attributable to Enviri Corporation common stockholders: (a)
Continuing operations	$	(0.15)	$	0.05	$	(0.10)
Basic earnings (loss) per share attributable to Enviri Corporation common stockholders	$	(0.17)	$	0.05	$	(0.11)

Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders: (a)
Continuing operations	$	(0.15)	$	0.05	$	(0.10)
Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders	$	(0.17)	$	0.05	$	(0.11)


	Three Months Ended March 31, 2025
(In thousands, except per share amounts)	As Previously Reported		Revision		As Revised
Net income (loss)	$	(12,195)	$	4,383	$	(7,812)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of deferred taxes	15,723		(622)		15,101
Pension liability adjustment, net of deferred taxes	(4,206)		18		(4,188)
Total other comprehensive income (loss)	8,718		(604)		8,114
Total comprehensive income (loss)	(3,477)		3,779		302
Comprehensive income (loss) attributable to Enviri Corporation	$	(5,045)	$	3,779	$	(1,266)


	Three Months Ended March 31, 2025
(In thousands, except per share amounts)	As Previously Reported		Revision		As Revised
Cash flows from operating activities:
Net income (loss)	$	(12,195)	$	4,383	$	(7,812)
Deferred income tax (benefit) expense	2,776		(5,599)		(2,823)
Changes in assets and liabilities, net of acquisitions and dispositions of businesses:
Accounts receivable	(13,501)		377		(13,124)
Inventories	(8,995)		1,017		(7,978)
Retirement plan liabilities, net	4,488		168		4,656
Other assets and liabilities	8,034		(346)		7,688
Net cash (used) provided by operating activities	6,600		—		6,600
Net cash used by investing activities	(18,447)		—		(18,447)
Net cash (used) provided by financing activities	26,127		—		26,127
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	(9)		—		(9)
Net increase (decrease) in cash and cash equivalents, including restricted cash	14,271		—		14,271
Cash and cash equivalents, including restricted cash, at beginning of period	90,158		—		90,158
Cash and cash equivalents, including restricted cash, at end of period	$	104,429	$	—	$	104,429


	As Previously Reported
	Enviri Corporation Stockholders’ Equity
	Common Stock				Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests
(In thousands, except share amounts)	Issued		Treasury										Total
Balances, December 31, 2024	$	146,844	$	(851,881)	$	255,102	$	1,400,347	$	(538,964)	$	38,151	$	449,599
Net income (loss)	—		—		—		(13,396)		—		1,201		(12,195)
Total other comprehensive income (loss), net of deferred income taxes of $2,487	—		—		—		—		8,351		367		8,718
Vesting of restricted stock units and other stock grants, net 284,643 shares	636		(1,357)		(636)		—		—		—		(1,357)
Vesting of performance share units, net 14,860 shares	35		(122)		(35)		—		—		—		(122)
Amortization of unearned stock-based compensation, net of forfeitures	—		—		4,044		—		—		—		4,044
Balances, March 31, 2025	$	147,515	$	(853,360)	$	258,475	$	1,386,951	$	(530,613)	$	39,719	$	448,687


	Revision
	Enviri Corporation Stockholders’ Equity
	Common Stock				Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests
(In thousands, except share amounts)	Issued		Treasury										Total
Balances, December 31, 2024	$	—	$	—	$	—	$	(21,512)	$	1,579	$	—	$	(19,933)
Net income (loss)	—		—		—		4,383		—		—		4,383
Total other comprehensive income (loss)	—		—		—		—		(604)		—		(604)
Vesting of restricted stock units and other stock grants	—		—		—		—		—		—		—
Vesting of performance share units	—		—		—		—		—		—		—
Amortization of unearned stock-based compensation, net of forfeitures	—		—		—		—		—		—		—
Balances, March 31, 2025	$	—	$	—	$	—	$	(17,129)	$	975	$	—	$	(16,154)


	As Revised
	Enviri Corporation Stockholders’ Equity
	Common Stock				Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests
(In thousands, except share amounts)	Issued		Treasury										Total
Balances, December 31, 2024	$	146,844	$	(851,881)	$	255,102	$	1,378,835	$	(537,385)	$	38,151	$	429,666
Net income (loss)	—		—		—		(9,013)		—		1,201		(7,812)

Total other comprehensive income (loss), net of deferred income taxes of $2,487	—		—		—		—		7,747		367		8,114
Vesting of restricted stock units and other stock grants, net 284,643 shares	636		(1,357)		(636)		—		—		—		(1,357)
Vesting of performance share units, net 14,860 shares	35		(122)		(35)		—		—		—		(122)
Amortization of unearned stock-based compensation, net of forfeitures	—		—		4,044		—		—		—		4,044
Balances, March 31, 2025	$	147,515	$	(853,360)	$	258,475	$	1,369,822	$	(529,638)	$	39,719	$	432,533