Evercore Investment Banking Pitch Book

Historical SIRE and Peer Group Valuation Trend Over the past five years, SIRE has typically traded between 5.0x and 8.0x run-rate EBITDA, near the bottom of the range of its peers 25x 20x 15x 10x 5x --X 10/17/17 Historical Enterprise Value-to-Adjusted EBITDA (Latest Quarter Annualized) SIRE reported annualized Adj. EBITDA of $2.8 million for 2Q20, its COVID-19 Pandemic trough, resulting in a multiple that is not meaningful Lat 10/17/18 10/17/19 SIRE Source: FactSet 1. Includes: Ciech SA; Genesis Energy, L.P.; Türkiye Sise ve Cam Fabrikalari A.S.; Solvay SA; Tata Chemicals Limited EVERCORE 3 Confidential - Preliminary and Subject to Change 10/17/20 wymag Peer Group Range1¹ Th مس 10/17/21 10/17/22 ŞİŞECAM

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