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INVESTOR OVERVIEW
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Use of non-GAAP financial measures This presentation includes certain non‐GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non‐GAAP financial measures to GAAP financial measures are provided within the Appendix to this presentation. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. The company does not attempt to provide reconciliations of forward‐looking non‐GAAP guidance to the comparable GAAP measure because the impact and timing of the factors underlying the guidance assumptions are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, Ingevity believes such reconciliations would imply a degree of certainty that could be confusing to investors. Forward-looking statements This presentation contains “forward‐looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” "could," "should," "may," “intends,” “targets,” “expects,” “outlook,” “believes,” “anticipates” or similar expressions. Forward‐ looking statements may include, without limitation, the potential benefits of any transaction, expected financial positions, guidance, results of operations and cash flows; financing plans; business strategies and expectations. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward‐looking statements, or that could cause other forward‐looking statements to prove incorrect, include, without limitation, adverse effects from general global economic, geopolitical and financial conditions beyond our control, including inflation and global trade tensions, risks related to our international sales and operations, including changes in tariffs, adverse conditions in the automotive market, competition from substitute products, new technologies and new or emerging competitors, worldwide air quality standards, a decrease in government infrastructure spending, adverse conditions in cyclical end markets, the limited supply of or lack of access to sufficient raw materials, or any material increase in the cost to acquire such raw materials, issues with or integration of acquisitions and other investments, the provision of services by third parties at our manufacturing facilities, supply chain disruptions, natural disasters and extreme weather events, or other unanticipated problems such as labor difficulties (including work stoppages), equipment failure or unscheduled maintenance and repair, planned and unplanned production slowdowns and shutdowns, turnarounds and outages, attracting and retaining key personnel, dependence on certain large customers, legal actions associated with our intellectual property rights, protection of our intellectual property and other proprietary information, information technology security breaches and other disruptions, government policies and regulations, including, but not limited to, those affecting the environment, climate change, tax policies, tariffs and the chemicals industry, losses due to lawsuits arising out of environmental damage or personal injuries associated with chemical or other manufacturing processes, and such other factors detailed from time to time in Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10‐K as well as in our other filings with the SEC. These forward‐looking statements speak only to management’s beliefs as of the date of this presentation. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward‐looking statements contained in this presentation. The information provided in this presentation is for informational purposes only. It is not intended to be, and does not constitute, an offer or solicitation to sell shares or securities in Ingevity or any related or associated entity. With respect to information regarding Ingevity’s financial condition and results of operations, along with disclosure regarding the most significant risk factors affecting our company, please refer to our filings with the SEC, including our most recent Annual Report on Form 10‐K and our subsequently filed reports. 2
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Purifying, Protecting, and Enhancing Everyday Life 1. Based on management estimate. 2. Management estimate based on 2019 data used in novel and externally published methodologies. 3. Management estimate based on Ingevity customer data. 3
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End Use Markets Automotive Purification: Food, Chemicals, and Water Automotive & Transportation Bioplastics Consumer Packaging Footwear & Apparel Industrial Equipment Medical & Health Pavement Construction Pavement Markings Pavement Preservation Pavement Reconstruction and Recycling Products Hardwood‐based, chemically activated carbon products Caprolactone and caprolactone‐based specialty polymers Innovative additives and technologies; Includes Evotherm® End Markets Gasoline vapor emission control systems in internal combustion engines and hybrid electric vehicles; Other activated carbons used in food, water, beverage, and chemical purification Coatings, resins, elastomers, adhesives, bioplastics, and medical devices Road construction and pavement preservation, including pavement reconstruction and recycling Performance Materials Advanced Polymer Technologies Performance Chemicals 1 $35.2 million$319.1 million $46.5 million2 $188.6 million$609.6 million $401.9 million22024 Sales 2024 Segment EBITDA Three Business Segments 4 1. Results from continuing operations. On September 4, 2025, Ingevity announced an agreement to sell its North Charleston crude tall oil refinery and the majority of its Industrial Specialties product line to Mainstream Pine Products, previously included within the Performance Chemicals segment. Beginning in Q3 2025 those results are presented as discontinued operations. Certain lignin‐based dispersants previously included in Industrial Specialties are now reported in Road Technologies. 2. Refer to Note 19 within item 8 to our 2024 Form 10-K filed with the SEC on February 19, 2025 for additional information. Caprolactone TechnologiesCarbon Technologies Road Technologies
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Ingevity At-a-Glance1 As of 12/31/2024 5 75 Countries Served Globally 11 Manufacturing Sites 24 Locations 7 Technical Centers ~1,500 Employees Globally Net Sales Geography 4% South America 54% North America 14% Europe, Middle East & Africa 27% Asia-Pacific $1.2B Revenue $(121.4)M Net Income (Loss) $376.5M Adj. EBITDA2 31.4% Adj. EBITDA Margin2 $128.6M Cash Flow Provided by Operating Activities $51.0M Free Cash Flow2 1. Results from continuing operations, except cash flow which includes continuing and discontinued operations. On September 4, 2025, Ingevity announced an agreement to sell North Charleston crude tall oil refinery and majority of Industrial Specialties product line to Mainstream Pine Products, previously included within the Performance Chemicals segment. Beginning in Q3 2025 those results are presented as discontinued operations. Certain lignin‐based dispersants previously included in Industrial Specialties are now reported in Road Technologies 2. For Ingevity's use of non‐GAAP financial measures, definitions of those financial measures and reconciliations to the nearest GAAP financial measures please refer to our website or our latest earnings presentation.
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Our Global Presence Ingevity is headquartered in North Charleston, South Carolina, and operates manufacturing and technical facilities in the Americas, Europe and Asia. 6 Technical Administration and sales Performance Chemicals Manufacturing/warehouse Performance Materials manufacturing Waynesboro, Ga. Covington, Va. Wickliffe, Ky. Zhuhai, China Changshu, China Shanghai, China Villeneuve d’Ascq, France Warrington, U.K. Tokyo, Japan Mumbai, India Seongnam, Korea Chennai, India Campinas, Brazil Brussels, Belgium Tulsa, Ok. Bangkok, Thailand North Charleston, S.C. Greenville, Ala. Millen, Ga. Marion, Ind. Childress, Texas Dayton, Nev. Advanced Polymer Technology manufacturing
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Performance Materials 7
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Powdered Activated Carbon Water treatment Food‐Beverage Performance Materials Overview Unique Activated Carbon Portfolio, Mainly Serving Auto Industry, Delivering 50%+ Margins 81. All trademarks, logos, and brand names are the property of their respective owners and are used for identification purposes only. Product line currently under strategic review. Competitors Customers Products: Activated Carbons End-Markets, Key Raws and Location Select Competitors1 and Customers1 Regional Sales Breakdown Activated Carbon Ceramic Honeycombs Tier 3, LEV 3: Near‐Zero Solutions Pelletized Activated Carbon Tier 2, LEV 2: Onboard Refueling Vapor Recovery (ORVR) Granular Activated Carbon Tier 1: Canister solutions Auto Gasoline vapor emission control systems in internal combustion engines and hybrid electric vehicles Purification Food, water, beverage, and chemical purification Raw Materials Hardwood saw dust, phosphoric acid and natural gas Sites Three in US and two in China North America Asia-Pacific China Europe, Middle East, South America 2024 Financial Snapshot $609.6 million Segment Sales 52.3% Segment EBITDA Margin $319.1 million Segment EBITDA
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Carbon Canister Ingevity is the Industry Leader in Auto EVAP Systems Due to Our Differentiated T echnology 9 Ingevity’s hardwood‐based carbon has a unique large and flexible pore structure It allows the capture of gasoline vapors during idling and release for reuse when car is re‐started Most other competitors’ micro pore structure of activated carbon only captures vapors thereby wasting gasoline APPLICATION Evaporative Emission Control System in Auto Higher emissions standards increase canister size and higher dollar of Ingevity content per vehicle Tier 1 0.5‐1.3L Canister Size <$5 NGVT Content per vehicle EPA emission standards (Tier 1, 2, 3), which progressively tightened pollution limits for vehicles, with Tier 3 being the most recent and stringent, aligning with California standards. Tier 2 2.0‐3.0L Canister Size $8‐15 NGVT Content per vehicle Tier 3 2.0‐3.0L Canister Size +Honeycombs $15‐40 NGVT Content per vehicleIngevity’s carbon saves over 8 million gallons of gasoline every day1 Fuel Tank Purge Valve Engine Ingevity Pelletized Activated Carbon Ingevity Honeycomb Activated Carbon 1. Management estimate.
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10 Advanced Polymer Technologies
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Europe, Middle East, and Africa North America China Asia- Pacific South America Advanced Polymer Technologies Overview 111. Customers not disclosed due to NDAs and confidentiality. All trademarks, logos, and brand names are the property of their respective owners and are used for identification purposes only. End-Markets, Key Raws and Location Select Competitors1 Regional Sales Breakdown Raw Materials Cyclo‐Hexane and Hydrogen Peroxide Sites One in UK Products Caprolactone polyols Besides biodegradable properties of TP, Capa makes products more durable versus other materials Thermoset Case Applications Coatings | Adhesives | Sealants | Elastomers Thermoplastics Bioplastics | Adhesives | Medical Caprolactone Monomer Caprolactone thermoplastics Resins Markets Coatings, resins, elastomers, adhesives, bioplastics used in auto and transportation, industrial equipment footwear and apparel, consumer packaging, electronic devices, medical and health, and furniture and construction 2024 Financial Snapshot $188.6 million Segment Sales 18.7% Segment EBITDA Margin $35.2 million Segment EBITDA
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Enhances functional properties: More flexible Tougher and more durable in use Resistant to water, chemicals, and weather High gloss and improved overall appearance Biodegradable at end of life Capa® Biodegradability Enables Broad Sustainability Solutions for Customers Increasing Durability in Use, Enhancing Biodegradability at End of Life 12 TUV Austria: Certified as compostable or biodegradable in multiple environments BPI (North America’s leading certifier): compostable Japanese Bioplastics Association: biodegradable plastic Provides sustainable features that increase the lifespan of products and is readily biodegradable in multiple environments What Does Capa Do? Certified by Leading Organizations
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Performance Chemicals 13
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Performance Chemicals Overview 14 1. Results from continuing operations. On September 4, 2025, Ingevity announced an agreement to sell North Charleston crude tall oil refinery and majority of Industrial Specialties product line to Mainstream Pine Products, previously included within the Performance Chemicals segment. Beginning in Q3 2025 those results are presented as discontinued operations. Certain lignin‐based dispersants previously included in Industrial Specialties are now reported in Road Technologies 2. All trademarks, logos, and brand names are the property of their respective owners and are used for identification purposes only. End-Markets, Key Raws and Location Select Competitors and Customers2 Raw Materials Tall oil fatty acid, tall oil rosin, amines, acrylic emulsions Sites One in US Products Pavement Technologies Evotherm® road construction additive for warm mix asphalt Specialized cationic, anionic, and amphoteric emulsifiers for pavement preservation Pavement reconstruction and recycling additives Road Marking Thermoplastic pavement markings Waterborne traffic paint Preformed thermoplastic Glass beads Regional Sales Breakdown Competitors Customers Primarily USA 1 Markets Road Construction, Pavement preservation, Pavement Reconstruction and Recycling, Pavement Markings 2024 Financial Snapshot1 $401.9 million Segment Sales 11.6% Segment EBITDA Margin $46.5 million Segment EBITDA
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Pavement Solutions have Broad Application; Growth is Driven by WMA Adoption, Supported by Regulation 15 Road Striping Thermoplastics, preformed, paints Pavement Preservation Emulsifiers, Stabilizers Construction Warm Mix Additives (Evotherm) Rejuvenators (EvoFlex) Liquid Anti‐strips (LAS) Interlayers Tack Coat Emulsifiers Road Base Cold In‐Place Recycling Emulsifiers Central Plant Recycling Emulsifiers Interlayers Prime Coat Emulsifiers Soil & Sub -base Base Stabilization Emulsifiers Full‐Depth Reclamation Emulsifiers EVOTHERM® Warm Mix Asphalt (WMA) Technology benefits to customers1 Increases road life by 30% Extends the paving season Reduces paving costs Reduces carbon dioxide emission by 30% Increases eligibility for certain state and federal incentives 60+% Lower organic compound emissions 50° Reduction in paving temperatures 20+% Energy use reduction 1. Numbers based on data collected by Ingevity at customer facilities. 1
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Why Ingevity Delivering best-in-class EBITDA margins and free-cash- flow yield while maintaining solid balance sheet 17 ~30% 2025 Expected EBITDA Margin 1 ~15% 2025 Expected FCF Yield2 2-2.5x Target Leverage Ratio Strong Cash Generation Track Record Market leaders in key business segments Products that meaningfully impact sustainability History of returning cash to shareholders 1. Based on continuing operations. 2. Free Cash Flow, defined as (Operating cash flow less Capex)/Market Cap, based on continuing and discontinued operations