14.     Segmental Information

We classify our operations into business segments based primarily on shared economic characteristics, including the nature of the products and services; the production processes; the type or class of customer; the methods used to distribute products or provide services; and the nature of the regulatory environment.

For the Second Quarter ended June 28, 2026, the Company operated four business units, which comprise three reportable segments within continuing operations: Gas Cylinders, Elektron and Superform. Luxfer Gas Cylinders forms the Gas Cylinders segment, Luxfer MEL Technologies and Luxfer Magtech aggregate into the Elektron segment, and Superform forms the Superform segment.

Prior to its disposal on July 2, 2025, the Luxfer Graphic Arts business was reported as a separate business unit and reportable segment following its disaggregation from the Elektron segment as of December 31, 2023. As a result, Graphic Arts is included within the prior year comparative information.

During the Second Quarter of 2026, the Company ceased actively marketing the Superform business for sale and determined that the business no longer met the criteria for classification as held-for-sale. As the Company is no longer pursuing the disposal of Superform, the business is no longer presented as a discontinued operation and has been reclassified into continuing operations as a separate reportable segment. Prior period comparative information has been restated to reflect this presentation.

A summary of the operations of the Company’s reportable segments within continuing operations is provided below.

Gas Cylinders segment

The Gas Cylinders segment manufactures and markets specialized cylinders using carbon composite materials and aluminum alloys. Products include pressurized cylinders for self-contained breathing apparatus (“SCBA”) used by firefighters and other emergency responders; cylinders for the containment of oxygen and other medical gases used in healthcare and aviation applications; aerospace and aviation cylinders used in aircraft safety systems, including emergency slide inflation and onboard oxygen storage; cylinders and systems for alternative fuel vehicles, including compressed natural gas (“CNG”) and hydrogen; space-related cylinders used in launch vehicle applications; and cylinders used in specialty industrial applications.

Elektron segment  

The Elektron segment focuses on specialty materials based primarily on magnesium and zirconium. Key product lines include advanced lightweight magnesium alloys used across aerospace, defense, transportation, and industrial applications; magnesium powders used in aircraft countermeasure flares and heater meal applications; and high-performance zirconium-based materials and oxides used in automotive emissions control, industrial catalysis, pharmaceuticals, and other specialty applications.

Superform segment  

The Superform segment manufactures highly engineered, superformed aluminum and titanium components primarily for aerospace applications. Its products include complex, lightweight components used in aircraft structures and other applications requiring high-performance formed metal components.

Graphic Arts segment

The Graphic Arts segment provided a range of pre-sensitized magnesium, copper, and zinc plates, along with associated chemicals, used in the production of foil-stamping and embossing dies. The segment also manufactured non-sensitized polished brass and magnesium plates for computer numerical control (“CNC”) engraving and offered advisory services for turnkey engraving operations, including etching machines, computer-to-plate (“CtP”) machines, exposure units, and film setters. The Company completed the sale of the Graphic Arts business on July 2, 2025.

Other

Other primarily represents unallocated corporate expenses and includes non-service-related defined benefit pension cost or credit.

14.     Segmental Information (continued)

Management monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated by the chief operating decision maker "CODM", the CEO, who is responsible for allocating resources and assessing performance of the operating segments, using net sales and adjusted EBITA, which is defined as the Company's measure of segment profit or loss, and is based on income before tax from continuing operations, adjusted for share-based compensation charges; restructuring charges; impairment charges; disposal costs; gain on disposal of assets held for sale/property, plant and equipment; defined benefit credit/charge, interest expense, net and amortization.

Unallocated assets and liabilities include those which are held on behalf of the Company and cannot be allocated to a segment, such as taxation, investments, cash, retirement benefits obligations, bank and other loans and holding company assets and liabilities.

Financial information by reportable segment in the Second quarter and first six months of the year ended of 2026 and 2025 were as follows:

In the second quarter of 2026 and 2025 there were no sales made between our segments.

14.     Segmental Information (continued)

In the first six months of 2026 there were $0.1 million sales between our Elektron segment and Superform segment (2025: $0.1 million sales between our Elektron segment and Graphic Arts segment).

⁽¹⁾ Other cost of sales includes material costs and variable costs.

⁽²⁾ Other segment items primarily consists of sales, marketing, research and development, general and admin costs.

14.     Segmental Information (continued)

The following tables present certain geographic information by geographic region for the Second quarter and first six months ended  June 28, 2026, and June 29, 2025:

(1) Net sales are based on the geographic destination of sale.

(2) Rest of the World comprises South America, Latin and South America, Africa and the Middle East.