Celanese Corporation · NYSE:CE
Celanese — Merger or Acquisition (June 2021)
14 slides from Celanese's merger presentation, June 2021
Slide 1: Celanese to Acquire ExxonMobil's Santoprene TPV Elastomers Business
Celanese to Acquire ExxonMobil’s Santoprene™ TPV Elastomers Business Highly differentiated addition to Engineered Materials’ leading solution set June 2021
Slide 2: Disclosures
Disclosures Forward-Looking Statements This presentation contains "forward-looking statements," which include information concerning the Company's plans, objectives, goals, strategies, future revenues, synergies, performance, capital expenditures, financing needs and other information that is not hi
Slide 3: Transaction Summary
Transaction Summary Acquisition of ExxonMobil’s Santoprene™ thermoplastic vulcanizates (TPV) business Business Santoprene™ brand and product portfolio, intellectual property, production and commercial assets, and world-class organization $1.15 billion all-cash acquisition Terms & Valuation Estimated
Slide 4: Transaction Highlights
Transaction Highlights 1 Acquisition of a global leader in TPV with an industry-renowned brand 2 Highly differentiated product portfolio that will be enhanced by Engineered Materials’ (EM) customer engagement model 3 Advantaged product, end-use, and regional positions to deliver future growth 4 Stre
Slide 5: A Global Leader in Thermoplastic Vulcanizates
1 A Global Leader in Thermoplastic Vulcanizates SantopreneTM is a leading TPV brand globally Global recognition, scale, and reach with 40 years of experience in TPV Two world-class manufacturing facilities in Pensacola, Florida, U.S. and Newport, Wales, U.K. with >190 kt capacity Diversified Sales T
Slide 6: Highly Differentiated Product Portfolio
2 Highly Differentiated Product Portfolio Thermoplastic Derivative Technically Functionalized Solutions Chemically cross-linked (vulcanized) high-performance Key Santoprene™ TPV functionality versus thermoset material rubber alternatives: TPV leverages a unique combination of engineering thermoplast
Slide 7: Customer Solutions Tailored by Application
2 Customer Solutions Tailored by Application Customer Model Customer Engagement Modelof Product Portfolio Enhanced Breadth Multi-party collaboration with Tiers and OEMs Dedicated growth and innovation teams Case Study: Tailored Solutions in Consumer Appliances Santoprene™ Tailored TPV Functionality
Slide 8: Advantaged Positions to Drive Growth
3 Advantaged Positions to Drive Growth Mega Trend Alignment Dynamic End-Uses High Growth Regions Future mobility Healthcare and Growth opportunities medical in Asia Sustainability and Construction and Benefits of future recyclability infrastructure local production in China Renewable energy Opportun
Slide 9: Significantly Enhanced Automotive Portfolio
4 Significantly Enhanced Automotive Portfolio Engineered Materials: Auto Pro Forma CE Engineered Materials: Auto Santoprene™: Auto >500 specifications >600 specifications >100 specifications Powertrain / Chassis Weatherseal Fuel delivery Power distribution Clips Glass run channel Roof line seal Engi
Slide 10: TPV Solutions Positioned for Future Mobility
4 TPV Solutions Positioned for Future Mobility Future Mobility Requires Significant EV Opportunity for TPV Functionalized TPV Elastomers ✓ Doubling of TPV content per Million Cars Sold ✓ Durable sealing performance 3-4 kg / car Internal electric vehicle: ✓ Aging resistance Combustion 2 kg / car Engi
Slide 11: Santoprene Exceeds Disciplined M&A Criteria
5 Santoprene™ Exceeds Disciplined M&A Criteria Santoprene™ acquisition exceeds Celanese’s disciplined M&A criteria shared at 2021 Investor Day 11
Slide 12: Broad M&A Opportunity Set in Engineered Materials
5 Broad M&A Opportunity Set in Engineered Materials Medical Santoprene™ acquisition Santoprene™ acquisition adds to the core of Engineered Materials across multiple factors 12
Slide 13: Significant Synergy Opportunity
6 Significant Synergy Opportunity Cost Synergies Revenue Synergies Synergy Phasing $25-30 M >$10 M 100% ✓ European OEM growth 80% ✓ Fixed cost synergies ✓ Pull-through of broader CE elastomers portfolio ✓ China localization synergies ✓ Leveraging project pipeline model 50% (logistics, freight, tarif
Slide 14: Purposeful Shareholder Value Creation Steps
6 Purposeful Shareholder Value Creation Steps 1 October 2020 $1.575 B PPC monetization 2Second Half 2020 $500 M share buybacks 3 June 2021 $1.15 B Santoprene™ acquisition Total Run-rate Adjusted EPS Accretion Adjusted EPS Accretion ~$0.90 3 ~$1.00 Synergies 2 ~ 1 ~ Series of purposeful actions to re