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News Release FOR IMMEDIATE RELEASE April 30 , 2021 The Woodlands , TX NYSE : HUN ● Huntsman Announces First Quarter 2021 Earnings ; Recovery Drives Significant Growth in the Quarter ; Board Approved a 15 % Dividend Increase ● First Quarter Highlights First quarter 2021 net income of $ 100 million compared to net income of $ 708 million in the prior year period ; first quarter 2021 diluted earnings per share of $ 0.37 compared to diluted earnings per share of $ 3.16 in the prior year period . ● Media : Gary Chapman ( 281 ) 719-4324 First quarter 2021 adjusted net income of $ 147 million compared to adjusted net income of $ 65 million in the prior year period ; first quarter 2021 adjusted diluted earnings per share of $ 0.66 compared to adjusted diluted earnings per share of $ 0.29 in the prior year period . First quarter 2021 adjusted EBITDA of $ 289 million compared to adjusted EBITDA of $ 165 million in the prior year period . First quarter 2021 net cash used in operating activities from continuing operations of $ 16 million . Free cash flow from continuing operations was a use of $ 114 million for the first quarter 2021 . Balance sheet remains strong with a net leverage of 1.2x and total liquidity of approximately $ 2.1 billion . Redeemed in full € 445 million ( approximately $ 541 million ) in aggregate principle amount of our 5.125 % senior notes due 2021 at par from available cash on January 15 , 2021 . HUNTSMAN Enriching lives through innovation Completed the acquisition of Gabriel Performance Products within our Advanced Materials segment on January 15 , 2021 . In millions , except per share amounts Revenues Investor Relations : Ivan Marcuse ( 281 ) 719-4637 In our Company wide optimization efforts , we remain on target to achieve annualized savings and acquisition integration synergies in excess of $ 120 million by mid - 2023 . Net income ( 1 ) Adjusted net income Diluted income per share Adjusted diluted income per share ( ¹ ) Adjusted EBITDA ( 1 ) On April 28 , 2021 the Board approved a 15 % dividend increase per annum from $ 0.65 per share to $ 0.75 per share . Net cash used in operating activities from continuing operations Free cash flow from continuing operations ( ² ) Adjusted free cash flow from continuing operations ( 6 ) $ $ $ Three months ended March 31 , $ $ $ $ $ $ See end of press release for footnote explanations and reconciliations of non - GAAP measures . 2021 1,837 $ 100 $ 147 $ 0.37 $ 0.66 $ 289 $ ( 16 ) $ ( 114 ) $ $ ( 114 ) 2020 1,593 708 65 3.16 0.29 165 ( 40 ) ( 101 ) ( 99 )