Perimeter Solutions, SA Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

Basic earnings per share represents income available to ordinary shareholders divided by the weighted average number of Ordinary Shares outstanding during the reported period. Diluted earnings per share is based upon the weighted-average number of Ordinary Shares outstanding during the period plus additional weighted-average potentially dilutive Ordinary Share equivalents during the period when the effect is dilutive.

Basic and diluted weighted average shares outstanding and earnings per share were as follows (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net income	$	19,282	$	106,227	$	80,727	$	152,117

Weighted-average shares outstanding:
Weighted average shares used in computing earnings per share, basic	153,694,160		162,635,592		155,958,492		161,943,492
Founders advisory fees	11,785,305		14,142,366		11,785,305		14,142,366

Weighted average shares used in computing earnings per share, diluted	165,479,465		176,777,958		167,743,797		176,085,858

Basic earnings per share	$	0.13	$	0.65	$	0.52	$	0.94

Diluted earnings per share	$	0.12	$	0.60	$	0.48	$	0.86

As of September 30, 2023, 11.5 million PBNQSO and 12.9 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive. As of September 30, 2022, 10.4 million PBNQSOs and 15.3 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive.