Overview Key strengths Key risks Worldwide leadership positions with a large portfolio of specialty and intermediate chemicals. Sensitivity of profits to macroeconomic conditions and some cyclical end markets, including for more commoditized segments (about 10% of 2021 sales on a pro forma basis). Supportive profitability and resilient cash flow generation combined with moderate leverage. Track record of high capital expenditure (capex) levels due to expansion strategy and driven by exceptional capex expected to be completed this year. Increasing global presence and contribution from high-growth countries including within Asia. An acquisitive track record, which could translate into temporary metric deviation. Track record in selecting prudent acquisitions and realizing synergies. Profitability exposure to oil price and currency movements. Financial policy commitment to
