Huntsman (HUN) Investor presentation summary

Transaction overview

• All-stock merger of equals with Huntsman shareholders receiving 0.5476 Olin shares per Huntsman share; post-transaction ownership split is 54.5% Olin and 45.5% Huntsman.

• Combined company to be named Olin Huntsman Corporation, headquartered in The Woodlands, Texas.

• Leadership includes Kenneth Lane as CEO, Peter Huntsman as Chairman, Phil Lister as CFO, and Todd Slater as Chief Integration Officer.

• Board will have equal representation from both companies; transaction unanimously approved by both boards.

• Expected to close in H1 2027, subject to regulatory and shareholder approvals.

Strategic rationale and integration

• Creates a $12B+ North American chemicals leader with a strong U.S. anchor and complementary Europe/APAC presence.

• Vertical integration improves cost position, with $400M+ identified in cost synergies and $125M in cash tax benefits.

• Enhanced scale supports near-term deleveraging, shareholder returns, and growth projects.

• Winchester will remain a key business within the combined entity.

• Experienced leadership and aligned corporate cultures to drive value creation.

Financial profile and synergy realization

• Combined 2025 revenue projected at $12.5B, with $1.3B adjusted EBITDA including run-rate synergies.

• $300M+ in near-term synergies from purchasing, operations, and SG&A; $100M+ additional raw material integration benefits by 2031.

• Combined liquidity of $2.3B and attractive blended cost of debt at 5.1%.

• Net leverage expected at 4.6x by end of 2025, or 3.2x with full synergy implementation.

• Disciplined capital allocation prioritizes deleveraging, stable dividends, and high-return growth projects.