Slide 1: Creating an Integrated North American Chemicals Leader
Creating an Integrated North American Chemicals Leader JUNE 2026
Slide 2: Disclaimer
Disclaimer 2 Additional Information and Where to Find It This presentation may be deemed to be solicitation material in respect of the proposed transaction between Olin Corporation (“Olin”) and Huntsman Corporation (“Huntsman”). In connection with the proposed transaction, Olin and Huntsman intend t
Slide 3: Today's Participants
Today’s Participants PETER HUNTSMAN Chairman of the Board, President and Chief Executive Officer HUNTSMAN PHIL LISTER Executive Vice President and Chief Financial Officer HUNTSMAN KENNETH LANE President and Chief Executive Officer OLIN TODD SLATER Senior Vice President and Chief Financial Officer OL
Slide 4: Merger of Equals Creates a $12B+ North American Chemicals Leader
Merger of Equals Creates a $12B+ North American Chemicals Leader 4 Creates a $12B+ North American Chemicals Leader North American anchor with complementary Europe & APAC footprint to better serve customers across diverse and growing end markets Winchester to operate as a key business within the comb
Slide 5: Transaction Summary
Transaction Summary • All-stock merger of equals • Huntsman shareholders to receive 0.5476 shares in Olin for every 1 share in Huntsman • Post-transaction ownership split: 54.5% Olin shareholders / 45.5% Huntsman shareholders • Company name: OlinHuntsman Corporation • Corporate headquarters: The Woo
Slide 6: Increased Scale to Compete in Diverse and Growing End Markets
Increased Scale to Compete in Diverse and Growing End Markets Source: Company Filings (1) Including run-rate annual synergies of $400M+ 6 Combined Company Financials in $B U.S. and Canada 56% APAC 18% Europe 17% Rest of World 9% $12.5 2025 Revenue $0.9 | $1.3 2025 EBITDA COMBINED COMPANY GEOGRAPHIC
Slide 7: Deeper Integration Drives Value Chain Benefits
Chlorine EDC/VCM Caustic Epoxy MDI / PU Systems Amines Advanced Materials Formulated Solutions Deeper Integration Drives Value Chain Benefits 7 ADVANTAGED UPSTREAM LEADERSHIP DOWNSTREAM APPLICATION EXPERTISE Combined Strength and Profitability Unlocks More Opportunities to Grow • Favorable cost posi
Slide 8: Creating a Stronger, More Diversified Platform With Differentiated Downstream Capabilities
Creating a Stronger, More Diversified Platform With Differentiated Downstream Capabilities 8 SELECT GROWTH END MARKETS MDI = Methylene Diphenyl Diisocyanate, EDC = Ethylene Dichloride, EPI = Epichlorohydrin, BPA = Bisphenol A, BPF = Bisphenol F Higher value ECU optionality Utilize lower-cost produce
Slide 9: $300M+ of Identified Near-Term Synergies
9 $300M+ OF IDENTIFIED NEAR-TERM SYNERGIES LINE OF SIGHT TO $400M+ SYNERGIES PER YEAR, AFTER FULL INTEGRATION ($M) $400+ $300+ $100+ Year 1 Year 2 Year 3 2031 Additional Raw Material Integration Total Synergy and Integration Benefits ADDITIONAL CASH TAX BENEFITS FROM COMBINED NOL OPTIMIZATION OF ~$1
Slide 10: Significantly Improved Profitability and Cash Flow Through the Cycle
Significantly Improved Profitability and Cash Flow Through the Cycle 10 Source: Company Filings (1) Reflects combined company 2025 synergized Adjusted EBITDA ADJUSTED EBITDA(1) ($B) Combined Company 2021 – 2025 Average Combined Company 2025 $0.9 $0.4 $2.3 $0.4 $1.3B $2.7B Run-rate Synergies Stronger
Slide 11: Stronger Combined Financial Profile
Stronger Combined Financial Profile Note: Financial profile as of December 31, 2025 (1) Blended cost of debt for Huntsman and Olin outstanding fixed-rate senior notes (2) Includes $400M+ of synergies 11 Stronger combined financial profile driven by synergy capture, integration benefits and increased
Slide 12: Consistent, Disciplined Capital Allocation Priorities
Consistent, Disciplined Capital Allocation Priorities 12 MAINTENANCE CAPITAL • ~$400M per year on a combined basis to ensure safe and reliable operations DIVIDEND • Maintain stable dividend policy • Supported by resilient through-the-cycle cash flows of the combined company LEVERAGE • Prioritize nea
Slide 13: Key Takeaways
KEY TAKEAWAYS 13 Creates a $12B+ North American Chemicals Leader Vertical Integration Improves Cost Position, Amplified by $400M+ Cost Synergies Enhanced Scale and Disciplined Capital Allocation Drive Shareholder Value Experienced Leadership with Shared Focus on Value Creation
Slide 14: Appendix
Appendix
Slide 15: High Confidence in Synergy Delivery with Accountability
IMMEDIATE COST ACTIONS WITH HIGH EXECUTION VISIBILITY • Corporate cost rationalization • Elimination of duplicate public company costs • SG&A efficiencies and fixed cost optimization IMPLEMENTATION OF RAW MATERIAL INTEGRATION BENEFITS • EDC / caustic integration into ethyleneamines, including heavie
Slide 16: Winning Combination with Benefits in All Major Regions
U.S. GULF COAST Winning Combination with Benefits in All Major Regions 16 • Competitive position in strategic end uses • Epoxy integration expands Advanced Materials capabilities • Regional integration enhances economics in epoxies and growth in higher-value applications EUROPE • Highly cash generat