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Investor Presentaiton

Business Overview - Industrial Specialties Business Description Industrial chemicals based on tall oil fatty acid, tall oil rosin, and lignin for the following applications: Business Unit Sales Industrial Specialties Tall Oil Rosin Ink resins Adhesives tackifiers Paper sizing Tall Oil Fatty Acid Lubricants Coatings 527 (9.7%) 476 (16.0%) 400 (4.4%) 382 Cleaners Rubber emulsifiers Biofractions Lignin Agchem dispersants Dyes dispersants Pharma phytosterols Renewable energy Roofing 2014 2015 2017 Sales - $382M By Material By Region AsiaPac 11% South America 2% Biofractions, TOFA & Dispersants, Derivative Other 23% 24% Rosin & Derivative 53% 43 (1) Management Estimates 2016 2017 Global Rosin & Fatty Acids(1) Global Resins - 2,400KT Select Fatty Acids -175KT TOFA <1% Tallow 4% Sunflower 10% Palm Hydrocarbor Gum Rosin 40% EMEA 22% Resin 43% Resin 38% Canola 17% North TOR America Resin 65% Soybean 29% 16% Terpene Resin 3% Ingevity
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