Venator Materials PLC · OTC:VNTRF

Venator Materials — BofA Securities 2020 Virtual Leveraged Finance Conference

14 slides from Venator Materials's conference presentation, Dec 2, 2020

  1. Slide 1: BofA Securities 2020 Virtual Leveraged Finance Conference

    BofA Securities 2020 Virtual Leveraged Finance Conference December 2, 2020

  2. Slide 2: Safe Harbor Statement and Other Matters

    Safe Harbor Statement and Other Matters This presentation includes “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements include statemen

  3. Slide 3: Venator Snapshot

    Venator Snapshot Leading global chemical company LTM 3Q20 Revenue (mm) $1,926 Adj. EBITDA (mm)(1) $134 % margin(1) 7% Titanium Dioxide Performance Additives Segment LTM 3Q20 LTM 3Q20 Revenue (mm) $1,437 Revenue (mm) $489 Adj. EBITDA (mm)(1) $132 Adj. EBITDA (mm)(1) $44 % margin(1) 9% % margin(1) 9%

  4. Slide 4: Titanium Dioxide

    Titanium Dioxide Gradual recovery from COVID-19; Longer-term industry fundamentals remain intact End Markets Quarterly Adjusted EBITDA History(1) 3Q20 LTM 2019 Revenues Source: Management Estimates $ in millions 31% 31% 32% Segment 29% 18 23 Revenues 23% 20 33 19% $1.4 15 billion 14%14% 12% 13%13% 1

  5. Slide 5: Market Leader in High-Value Specialty TiO2

    Market Leader in High-Value Specialty TiO2 Favorable application mix Venator has more than half of its sales volume in high value and technically demanding TiO2 categories Venator Focus Specialties Price Differentiated Functional Legend: Low Quality % Total global TiO2 industry demand 17% 42% 32% 9%

  6. Slide 6: Performance Additives

    Performance Additives Cash generative business with ample growth opportunities End Markets Quarterly Adjusted EBITDA History(1) 2Q20 LTM 2019 Revenues Source: Management Estimates $ in millions Other Ag. & Water 17% 2% 4% Architectural coatings Fibres & films 4% 14% 14% Segment 13% 14% 13% 13% Perso

  7. Slide 7: Performance Additives Product overview

    Performance Additives Product overview 3Q20 LTM EBITDA(1) % split Product Characteristics & Uses Competition Benefit Functional Barium and Zinc Additives  Fillers that enhance the gloss and  Strong EBITDA margins flow of paints and the mechanical Additives  Complementary and common properties of

  8. Slide 8: Driving Further Cost Reduction

    Driving Further Cost Reduction ~$55mm EBITDA improvement delivered by end of 2022(1) 2020 BIP Highlights Timing (1) $ in millions  ~$35mm from manufacturing cost ~$75 improvement across the company(2) Non-recurring savings  ~$20mm lower SG&A(2) ~$65 2020 Business Improvement ~$60 Program  Approxi

  9. Slide 9: Free Cash Flow Considerations

    Free Cash Flow Considerations Generated $24 million positive free cash flow in 3Q20 $ in millions Actual Estimate 3Q20 YTD 2020E Comments Adjusted EBITDA $17 $111  Intense focus on working capital management Capital expenditures(2) (8) (54) ~(65)  Further reduction in cash uses – Restructuring red

  10. Slide 10: Focused on Maximizing Shareholder Value

    Focused on Maximizing Shareholder Value Maximize Shareholder Value Focus on Improve Customer- Enhance specialty & free cash Portfolio tailored competitive differentiated flow optimization approach position products generation  Aligning  Growth in higher  Driving  Reduce cash  Potential sale of

  11. Slide 11: Appendix

    VENATOR Appendix

  12. Slide 12: Pro Forma Adj. EBITDA Reconciliation

    Pro Forma Adj. EBITDA Reconciliation $ in millions 2014 2015 2016 2017 2018 2019 3Q19 3Q20 3Q20LTM Net (Loss) / Income $ (162) $ (352) $ (77) $ 144 $ (157) $ (170) $ (17) $ (39) $ (221) Net income attributable to noncontrolling interests (2) (7) (10) (10) (6) (5) (2) (3) (7) Net income of discontinu

  13. Slide 13: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 13

  14. Slide 14: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 14

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