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Roadshow Presentation ARKEMA ROADSHOW PRESENTATION SEPTEMBER 2020 ARKEMA IN A SNAPSHOT ARKEMA AT A GLANCE 2019 SALES SPLIT 7% 4% 21% 24% 7% 22% 28% 7% 36% Businesses End markets Regions 15% 22% 24% 31% 20% 32% Adhesive Solutions General industry Building & Construction Europe Advanced Materials Consumer goods Automotive & Transportation North-America Coating Solutions Electrics, electronics & energy Nutrition & water Asia Intermediates Paints & Coatings ROW €8.7b 20,500 Present 144 plants 2.8% of revenues sales employees in 55 countries operated invested in R&D 3 ROADSHOW - SEPTEMBER 2020 A HIGH-LEVEL FINANCIAL PERFORMANCE 1,474 1,391 1,457 8.8 8.7 8.3 7.5 1,189 16.7% 16.7% 16.7% 15.8% 2016 2017 2018 2019 2016 2017 2018 2019 Sales EBITDA (€m) (€b) and EBITDA margin (%) 4 ROADSHOW - SEPTEMBER 2020 RECORD CASH FLOW GENERATION IN 2019 EBITDA to cash conversion rate 52% 667 above the target of 35% 565 499 Working capital (% of annual sales) 13.8% close to the very good level of 2018 Recurring and exceptional capital expenditure €607 m acceleration of major organic growth projects 2017 2018 2019 Tax rate (as a % of REBIT) Free cash flow (€m) 19% stable relative to 2018 5 ROADSHOW - SEPTEMBER 2020 A VERY SOLID BALANCE SHEET Gearing 900 900 (net debt excluding hybrids divided 1.50% by shareholders’ equity) 700 31% 1.50% 500 400 0.75% Net debt (excl. hybrids) / EBITDA 300 2.75% 300 1.1x 4.75% 150 1.50% 3.125% Hybrid bonds 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 (booked as shareholders’ equity) €1,000 m* Senior bond Hybrid bond RCF * €300m new hybrid bond in January 2020 with a first call option exercisable after 6 years giving Arkema the possibility to refinance the 2020 hybrid of €300m should the reimbursement option be exercised 6 ROADSHOW - SEPTEMBER 2020 STRONG CSR REQUIREMENTS NON-FINANCIAL RATINGS OUR AMBITION 2015 2019 42 65 BB A C B • Rank among the Top 1% best perfoming companies Global n.a.1 4e/38 chemist • Inclusion in the DJSI EUROPE 120 INDICES EUROZONE 120 INDICES 1. Not disclosed 7 ROADSHOW - SEPTEMBER 2020 EVOLUTION OF THE SHARE PRICE SINCE 1st JANUARY 2019 Arkema : -1.7% TSR since May 2006 Average of peers* : -11.8% 100 (with reintegrated dividends) CAC 40 : -16.3% Arkema more than 8080 x4 74.96 Average of peers* Arkema : + 26.3% around Average of peers* : + 18.1% 6060 CAC 40 : + 26.4% x2.5 CAC 40 2019 2020 around 4040 x1.7 01/01/2019 01/04/201931 March 01/07/201930 June 3001/10/2019 September 3101/01/2020 December 01/04/202031 March 01/07/202030 June * The panel of chemicals peers includes Ashland, BASF, Celanese, Clariant, Dupont, Eastman, Evonik, HB Fuller, Lanxess, Solvay 8 ROADSHOW - SEPTEMBER 2020 OUR LONG TERM AMBITION OUR VISION Be the Specialty Materials leader offering the most innovative and sustainable solutions to address our customers’ current and future challenges 10 ROADSHOW - SEPTEMBER 2020 ARKEMA HAS UNIQUE MATERIALS CAPABILITIES TO ADDRESS THESE CHALLENGES Structuring Bonding Protecting Additive Surface Piezoelectric materials materials surfaces technology science materials Change picture (wind turbine blade) Composite Recyclable Bio-based Rheology UV curing Nanoscience materials materials resources modifications technology 11 ROADSHOW - SEPTEMBER 2020 THIS KNOW-HOW IS ORGANIZED INTO 3 SYNERGISTIC GROWTH PLATFORMS Adhesive Advanced solutions materials Specialty Materials Coating solutions Building & Automotive & General industry Consumer goods Electric & energy Paint & coatings Nutrition & water construction transportation Key end markets 12 ROADSHOW - SEPTEMBER 2020 THESE 3 PLATFORMS ARE DEVELOPED SINCE 2005 THROUGH A PROFOUND PORTFOLIO SHIFT Colored boxes represent the largest acquisitions and divestments over the period Select Dow Seppic specialty Oxido polymer XL Coatex acrylic assets surfactants Sunke crosslinkers Brands Prochimir LIP 7.6x Average EV/EBITDA €4.4b multiple after Acquisitions1 synergies and growth (vs. 9.4x at Geo polymer Cray Valley / Hipro/ Bostik Den ArrMaz Lambson Fixatti acquisition) crosslinkers Sartomer Casda Braven Sanitary Pipe Activated Functional Mineral heating Aluminium business in Vinyl Coating resins carbon and Polyolefins Cerexagri Flocculants Pipes chloride France Products in South Africa Filter aids business 2 €2.2b 8.6x Average EV/EBITDA Divestments1 multiple of assets sold (excluding vinyls) Specialty Urea formal- Vinyl Higher PC sheet Tin Sunclear 50% stake in Amines dehyde resins compounding Methacrylates stabilizer Oxochimie in Italy 3 1. Sales acquired / divested over 2005-2019 (full year impact) 2. Finalized on 1 June 2020 3. Initial plan was ~€300m EV for € 700m sales but achieved ~€650m EV for €550m sales 13 ROADSHOW - SEPTEMBER 2020 WE HAVE ALIGNED OUR BUSINESS STRUCTURE WITH OUR VISION 2019 FINANCIALS Specialty Materials Adhesive Solutions Advanced Materials Coating Solutions Intermediates High- PMMA Construction Industrial Performance Coating Coating Performance Fluorogases & Consumer Assembly Additives Resins Additives Polymers Asia Acrylics 2.7 2.1 2.1 1.8 Sales, €b EBITDA margin1 12.9% 21.7% 14.4% 21.0% 15.8% net of corporate 20% net of corporate 1 ROCE 7.8% 13.3% 13.8% 26.5% Separate reporting Now including Thiochemicals Now including UV cure resins Now including Asia Acrylics of Adhesives (Bostik) and Hydrogen peroxide (Sartomer) but excluding which does not benefit yet Asia Acrylics from integration 1. Excluding corporate, corresponding to ~1% of sales 14 ROADSHOW - SEPTEMBER 2020 OUR VISION IS TO BECOME A PURE SPECIALTY MATERIALS PLAYER SPECIALTY MATERIALS INTERMEDIATES OUR 2024 AMBITION . €10-11b sales 3-3.5% p.a. average annual organic revenue growth . GDP+ organic growth > M&A to more than double Develop differentiated . High group profitability organic growth strategies across businesses of ~17% EBITDA margin . Strong cashflow generation Increase EBITDA margin from 1 . Superior resilience 15.8% to ~17% >40% cash generation2 1. Net of corporate costs, corresponding to ~1% of sales 2. Free cash flow excluding exceptional CAPEX divided by EBITDA 15 ROADSHOW - SEPTEMBER 2020 EACH PLATFORM HAS SET GROWTH AND PROFITABILITY AMBITIONS Adhesive Solutions Advanced Materials Coating Solutions Be a consolidator of the market, Invest and innovate to support Continue to enhance focused on high performance exponential needs for materials the value proposition bonding and construction solutions based on megatrends and sustainable offering 35-40% 30-35% 25-30% Sales split 2024 (incl. M&A) Average annual organic revenue growth ~3% ~4% ~3% EBITDA margin1 2024 ~16% ~22% ~16% While keeping strict financial discipline at group level: including a ROCE > 10% and normative CAPEX ~5.5% of sales 1. Excluding corporate, corresponding to ~1% of sales 16 ROADSHOW - SEPTEMBER 2020 ADHESIVE SOLUTIONS STRATEGY AT A GLANCE 2019 KEY FINANCIALS 2019 REVENUE SPLIT 2024 AMBITION 10% €2.1b Building & Construction sales 42% Do-it-yourself3 High single-digit 48% Industry3 Annual sales growth 12.9% incl. M&A2 EBITDA margin 3% 30% CAPEX intensity1 Europe 46% North America +300 bps Asia & Rest of the World EBITDA margin increase 2.7% 24% R&D intensity1 Growth levers Accelerate organic growth through presence in Asia as well as Launch phase 2 Grow through bolt-on key technologies (high-performance adhesives for industrial of our operational M&A in a fragmented assembly and waterproofing & flooring in construction) excellence program market 1. As % of sales 2. Organic growth of ~3% 3. Separate market definitions as used by Adhesive solutions 17 ROADSHOW - SEPTEMBER 2020 ADVANCED MATERIALS STRATEGY AT A GLANCE 2019 KEY FINANCIALS 2019 REVENUE SPLIT 2024 AMBITION 4% Building & Construction 8% €2.7b Consumer goods 10% 35% sales General industry 11% 4% Electrics, electronics & energy Annual organic sales growth 21.7% 14% 18% Automotive & Transportation EBITDA margin Paint & coatings Nutrition & Water 7-8% 30% 1 Europe CAPEX intensity 42% North America Stable at 22% Asia & Rest of the World EBITDA margin 3.4% 28% R&D intensity1 Growth levers Support growth with high-return Innovate with a focus on sustainability Be the preferred partner expansion projects (polyamides in (bio-sourced materials, new energy, to solve our customers Asia, PVDF globally, PEKK in US,…) lightweight,…) materials challenges 1. As % of sales 18 ROADSHOW - SEPTEMBER 2020 COATING SOLUTIONS STRATEGY AT A GLANCE 2019 KEY FINANCIALS 2019 REVENUE SPLIT 2024 AMBITION Paint & coatings 8% €2.1b 8% Consumer goods sales 8% Nutrition & Water General industry 3% 60% 14% Building & Construction Annual organic sales growth 14.4% Electrics, electronics & energy EBITDA margin 5-6% 12% 1 Europe CAPEX intensity 41% North America +150bps Asia & Rest of the World EBITDA margin increase 2.3% 47% R&D intensity1 Growth levers Increase capacity in our existing platforms in Optimize operating model incl. Further strengthen our Sustainable technology fast growing geographies (e.g. photocurable closer integration with other offering (Low-VOC formulations, bio-sourced, resins in China, powder coatings India,…) platforms and downstream acrylics energy efficient products) 1. As % of sales 19 ROADSHOW - SEPTEMBER 2020 INVESTIGATING DIFFERENTIATED STRATEGY ACROSS INTERMEDIATES BUSINESSES … Sales 2019, €b MMA/ PMMA FLUOROGASES ASIA ACRYLICS 0.61 0.7 0.3 Explore potential disposal Focus on specialty segment Balance acrylic monomer Once these of MMA/ PMMA (~€0.2b) high-value capacity in Asia through strategies are executed these intermediates for fluoropolymers, upstream partnerships and segments will be as well as fluoroderivatives for downstream growth
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