Investor Presentaiton

Capital Allocation Strategy 2015-2019 FCF DEPLOYMENT CASH PRIORITIES Disciplined Reinvestment to Drive Organic Growth 2020-2023 FCF DEPLOYMENT ($M) M&A Share Repurchase M&A Debt Paydown Target Debt/EBITDA Leverage of <2.5x Share Repurchase Debt Paydown Opportunistic Share Repurchases Organic Investment Organic Investment Long-term, Tuck-in Acquisitions Lydall Net Debt and Net Debt Leverage¹ 276 Texel >> GUTSCHE Interace 221 168 Performance Materials 17 57 2016 2017 2018 2019 2020 0.7x 0.2x 3.1x 2.8x 2.5x CLEAR CAPITAL ALLOCATION STRATEGY TO PROVIDE STRONG LIQUIDITY WHILE FUNDING STRATEGIC GROWTH 1 Net Debt Total Debt less cash and equivalents at year end Net Debt Leverage Ratio = Net Debt/ (Trailing Twelve Month Adjusted EBITDA) 14 USE OR DISCLOSURE OF INFORMATION CONTAINED ON THIS SHEET IS SUBJECT TO THE RESTRICTIONS ON THE TITLE SLIDE

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