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Conference Presentation Q2 / 2017 the Road Ahead – Expanding Our Strenghts

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Conference Presentation Q2 / 2017 the Road Ahead – Expanding Our Strenghts LANXESS – Conference Presentation Q2 / 2017 The road ahead – expanding our strenghts Investor Relations Safe harbor statement The information included in this presentation is being provided for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to purchase, securities of LANXESS AG. No public market exists for the securities of LANXESS AG in the United States. This presentation contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document. 2 Agenda . Expanding our strengths . Q2 2017 and guidance – Performing in the new LANXESS structure . Backup 3 A rapidly changing world – Our answer: Energizing chemistry! What it takes to be successful in a changing environment Agility Markets Mindset Balance Courage & team spirit Industries Lean structures Markets Speed Leadership Entrepreneurial organization Technology & innovation A strong team and corporate culture make the difference 4 Our journey: Shaping New LANXESS – a story in three chapters ACCELERATE Leveraging our strengths IMPROVE Strengthening our platform REPAIR Realigning our business 2014 2017 ~2021 5 Recap Chapter 1: Rebuilding a competitive platform Portfolio competitiveness Chapter 1 Business and Operations and alliances Repair administration competitiveness structure competitiveness Chapter 2 & Leaner Transfer of best Foundation of Corporate culture: organization, practices, ARLANXEO Shift to ~€150 m ~€150 m Acquisition of team performance savings savings Chemtura Chapter 3 ✓ ✓ ✓ Chapter 1 prepared the ground for the New LANXESS platform 6 Some value accretive portfolio modifications already addressed Strategic portfolio upgrade started Sound financials Chapter 1 Businesses already started to improve Businesses still up for improvement Repair EBITDA adj.: ~€255 m Synergies: ~€100 m 15 EV / EBITDA incl. - ADD synergies: ~7x Chapter 2 MPP ROCE 2015 EBITDA adj.: ~€20 m Synergies: ~€10 m EBITDA CAGR 2011 CAGR EBITDA Chapter 3 EV / EBITDA incl. synergies: ~7x Chemtura sales and EBITDA adjusted are based on FY 2016; USD / EUR 1.10 7 Restructuring and change of strategy yields first positive results LANXESS transformation starts to become visible Key 2016 points Chapter 1 . Phase 1 & 2 cost Repair improvements become visible IPG 16 LPT - ADD . All BUs with improved SGO organic return profile MPP HPM Chapter 2 AII . Growth is picking up LEA ROCE 2016 EBITDA CAGR 2011 CAGR EBITDA Chapter 3 Substantial room for improvement left 8 But it takes more time to change a company fundamentally Chapter 1 . Industry balance and market set-up Repair need further improvement . Leadership positions in many business units achieved but Chapter 2 substantial catch-up still to be done . Margin and profitability level has visibly improved but still lagging behind industry standards Chapter 3 9 Chemtura integration: €100 m of synergies by 2020 Cost management Organic investments Portfolio management €100 m synergy breakdown: Chapter 1 Corporate / country costs ~€30 m Chapter 2 Marketing and sales Improve ~€20 m Production and . Organizational streamlining procurement set-up . Leveraging new regional strengths Chapter 3 ~€50 m Topline synergies provide additional comfort 10 Organic investments will improve company ROCE Cost management Organic investments Portfolio management . €100 m Debottleneckings, BU AII % ROCE . €60 m Debottleneckings, BU Chapter 1 SGO, custom manufacturing 20 . €60 m Greenfield, BU IPG . €50-100 m Debottleneckings, BU HPM, 15 global compounding hubs Chapter 2 . €50 m Debottleneckings in remaining 10 Improve BUs in Performance Chemicals . €50-100 m Investments in Specialty 5 Additives 0 ~€400 m capex until 2020 at 2011 2013 Q1 Chapter 3 ROCE of ~20% 2017 Target: Increase ROCE to former levels 11 Portfolio optimizing with clear criteria Cost management Organic investments Portfolio management Chapter 1 Profitability Resilience Chapter 2 Acquisition / Improve divestment Market and technology Value creation Chapter 3 leadership 12 Chapter 3: More balanced and stronger platform along three key dimensions Regional platform Industrial platform Market positions Chapter 1 Balancing the ground for further growth . Regionally balanced platform with no pronounced Chapter 2 dependencies . Diversified industrial platform mitigates impact from any individual industry’s volatility . Market positions in every business at least among leading players to keep or improve profitability level Chapter 3 Accelerate Solid Chapter 3 will establish an even stronger platform growth 13 Vulnerability to single trends will be minimized Peak to trough EBITDA margin volatility not to exceed 2-3%pts Illustrative: Margin volatility . Former dependency on few Chapter 1 cyclical businesses . Lack of cushioning interference of cyclical swings Chapter 2 . Improved balance of portfolio, regions and industries . Cyclicality scaled back Chapter 3 Accelerate Use of entire toolbox to improve resilience 14 LANXESS free cash flow and cash conversion rate to improve Illustrative . EBITDA: Structural New 2004-16 Transformation improvement Chapter 1 LANXESS . Capex: Lower because of free asset light strategy and cash free ARLANXEO deconsolidation flow cash . Other: flow − Exceptionals to decline other after Chemtura integration Chapter 2 − Working capital: lower EBITDA other volatility pre − Tax rate to decline to 30- 35% capex Chapter 3 capex Accelerate Cash conversion* >60% * Calculated as (EBITDA pre – capex) / EBITDA pre 15 Chapter 3: Ambitious financial goals – substantially higher margins with significantly lower volatility What we aim for How we started again What we have achieved (~2021) EBITDA pre margin (group, Ø through 8-10% 10-14% 14-18% the cycle) Cash con- version 15% 56% >60% (2013) (2016) EBITDA margin HIGH LOW volatility MEDIUM 2-3%pts Underlying growth: Sustainable >GDP growth targeted Cash conversion: (EBITDA pre – capex) / EBITDA pre 16 The destination of our journey: A company with convincing characteristics . Nicely balanced: Regionally and industrially, thus less cyclical Business platform . Leading market and technology positions . Resilient cash conversion Financial profile . Investment grade rating . Enthusiasm for what we do Cultural profile . Performance team culture as basis for the next steps after 2021 17 Agenda . Expanding our strengths . Q2 2017 and guidance – Performing in the new LANXESS structure . Backup 18 Q2 2017 financial overview: a strong quarter in a dynamic environment [€ m] Q2 2016 Q2 2017 yoy in % . Substantial sales increase Sales 1,943 2,522 30% driven by Chemtura and higher prices (raw material EBITDA pre 293 367 25% price pass-through) margin 15.1% 14.6% . EBITDA pre reflects portfolio EPS 0.82 0.04 -95% effects and positive price / raw material cost spread EPS pre* 0.88 1.54 75% . Net financial debt up due to Capex 73 105 44% ~€2.4 bn Chemtura [€ m] 31.12.2016 30.06.2017 Δ % acquisition Net financial debt** 269 2,537 >100% . Higher net working capital due to acquired businesses Net working capital 1,628 2,189 34% and substantially higher raw material prices ROCE*** 6.9% 8.8% * net of exceptionals and amortization of intangible assets as well as attributable tax effects ** after deduction of current financial assets in 2016 *** 2017 calculated incl. Chemtura EBITpre pro forma based on 2016 earnings 19 Q2 2017: Strong results with nice contribution by Chemtura acquisition Q2 yoy sales variances Price Volume FX Portfolio Total . Sales increase reflects portfolio effect and successful raw Advanced Intermediates +5% +1% +1% +7% +14% material price pass-through Specialty Additives +1% +4% +1% +101% +107% . Market demand remains healthy. Performance Chemicals +4% -1% +2% +7% +11% Most BUs with positive volumes except for BU IPG (pricing), BU Engineering Materials +8% +6% +0% +18% +31% SGO (agro market) and BU TSR ARLANXEO +23% -0% +2% +0% +25% (maintenance turnaround) LANXESS +11% +1% +1% +16% +30% Q2 yoy EBITDA pre bridge [€ m] . Successful raw material price pass-through . “Other” includes contribution by 746 Chemtura and Chemours’ clean 293 367 & disinfect businesses Q2 2016 Price Volume Input costs Other Q2 2017 20 Q2 2017: Strong growth across all regions Q2 2017 sales by region Regional development of sales [%] [€ million] 2,522 Operational development* Germany Asia/Pacific 15 649 1,943 26 +32% +15% Asia/Pacific 491 250 +21% +15% LatAm 206 523 +61% North America 324 +11% LatAm EMEA 10 +22% 720 (excl. Germany) EMEA 590 +11% North 28 (excl.
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