Page 1

PRESS RELEASE ARKEMA INNOVATIVE CHEMISTRY Colombes - August 31st , 2021 Arkema acquires Ashland's performance adhesives and reaches a new milestone in the Group's 2024 ambition 1/3 • • • • • • An agreement was signed today for the acquisition of Ashland's Performance Adhesives business , a first - class leader in high performance adhesives for industrial applications in the United States with a unique and innovative product portfolio This project perfectly aligns with the Group's ambition to become a pure Specialty Materials player by 2024 and focus its development on sustainable and high performance solutions This key step supports Bostik's strong long term growth ambition and now allows it to aim for an EBITDA margin above 17 % in 2024 Sales of approximately US $ 360 million ( ¹ ) in 2021 with an EBITDA margin above 25 % ( 1 ) and 330 employees . The offer was made on the basis of a US $ 1,650 million enterprise value , i.e. 15x the estimated 2021 EBITDA ( 1 ) after taking into account the tax benefits linked to the structure of the transaction Significant pre - tax synergies , estimated at 12.5 % of sales , enabling to reduce the EV / EBITDA multiple to 8.7 by 2026 Strongly value - creative deal for Arkema's shareholders , with an accretive impact on net earnings per share in the first year , and a € 1 per share accretion by 2026 " We are very happy and proud of this move . In a context of strong earnings growth following the recent divestment of PMMA and the start of the strategic review of Fluorogases , the acquisition of Ashland's adhesives business is a fantastic opportunity to reinforce the Group's presence in the US and to accelerate Bostik's growth . With an excellent business which holds leading positions in many high - growth segments and a high level of profitability , this project fully aligns with the Group's targeted acquisition strategy . Ashland's adhesives will constitute a new technological platform for our adhesives and the synergies are particularly high given the geographical and application complementarities with Bostik and our Coating Solutions platform . The cultures of the teams are very close , focused on customer centricity and sustainable innovation . We look forward to welcoming Ashland's high - caliber management team and to partner together for this highly value creative deal . " , stated Thierry Le Hénaff , the Group's Chairman and Chief Executive Officer . A major step in Bostik's strong long term growth ambition With estimated sales of around US $ 360 million ( 1 ) and an estimated EBITDA at a very high level of around US $ 95 million ( 1 ) in 2021 , Ashland offers a portfolio of high performance adhesive solutions in high - value - added industrial applications . ( 1 ) Including pro forma adjustments Arkema 420 , rue d'Estienne d'Orves - F - 92705 Colombes Cedex - France Tel .: +33 1 49 00 80 80 - Fax : +33 1 49 00 83 96 A French société anonyme ( limited company ) with share capital of € 767,364,760 - Registered in Nanterre : RCS 445 074 685 arkema.com