Venator Business Overview and Cost Savings Initiatives

Overview 5 VENATOR Venator Materials plc ("Venator" or the "Company") is a leading global producer of TiO2, and also manufactures and sells higher value- added functional additives, color pigments and timber treatment chemicals ◉ #1 market position in TiO2 in Europe and #1 or #2 position in certain key performance additives Leader in higher value specialty TiO2 ☐ Operates 12 facilities globally TiO2 market's long-term fundamentals are strong and performance additives are higher value specialty products TiO2 is an important material used as a pigment in a vast range of consumer and industrial applications; it doesn't currently have a commercially viable substitute Performance additives are used in a broad range of growing end markets The global TiO2 market has seen rapid deterioration in performance since H2-2022 due to unprecedented macro-economic challenges including weak demand, de-stocking of high inventory levels, high raw material costs and record high energy prices (especially in Europe) The market is already seeing signs of recovery in early 2023 but Venator's increase in sales volumes has been more than offset by lower selling prices and higher costs Stronger, independent TiO2 companies now accounting for a majority of global production Within this group, Venator remains the leading producer in Europe Venator expects variable contribution margins to recover to historical averages by 2024 Venator has undertaken a comprehensive strategic review and is proactively pursuing a plan to position the Company for profitability and future growth, including a rationalisation of its manufacturing footprint to address legacy issues The Company has reached an agreement with the overwhelming majority of its lenders and noteholders on the terms of a comprehensive recapitalization plan which includes an equitization of nearly all of the company's funded debt The recapitalization plan will be implemented through a prepackaged Chapter 11 process in the United States and will be financed by a debtor-in-possession ("DIP") financing facility, which includes a commitment for $275 million in new-money financing from the Company's supporting creditors In the following pages, we have laid out in detail the Company's view of the market and its outlook for a stronger business going forward

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