Huntsman Q1 Results

Huntsman Announces Strong First Quarter 2018 Results,
With Every Division Showing Earnings Growth Versus the Prior Year;
Greater Than $100 Million in Share Repurchases Completed to Date

First Quarter 2018 Highlights

• Net income was $350 million compared to $92 million in the prior year period and $287 million in the
prior quarter.

• Adjusted EBITDA was $405 million compared to $260 million in the prior year period and $360 million in
the prior quarter.

• Diluted income per share was $1.11 compared to $0.31 in the prior year period and $1.00 in the prior
quarter.

• Adjusted diluted income per share was $0.96 compared to $0.45 in the prior year period and $0.76 in
the prior quarter.

• Net cash provided by operating activities was $111 million. Free cash flow generation was $56 million.
• Balance sheet remains strong with a net leverage of 1.3x.

• Completed share repurchases of approximately $103 million through April 19, 2018, and approximately
$347 million remains on the existing share repurchase authorization.

• Expanded the Polyurethanes downstream business with the acquisition of Demilec, a leading North
American polyurethane spray foam producer, which was completed on April 23, 2018.

Segment Analysis for 1Q18 Compared to 1Q17

Polyurethanes

The increase in revenues in our Polyurethanes segment for the three months ended March 31, 2018 compared
to the same period of 2017 was due to higher average selling prices and higher sales volumes. MDI average
selling prices increased in response to continued strong market conditions. MTBE average selling prices
increased primarily as a result of higher pricing for high octane gasoline. MDI sales volumes increased due to
increased demand across most major markets. MTBE sales volumes increased due to increased demand for
MTBE. The increase in segment adjusted EBITDA was primarily due to higher MDI margins as well as higher
MTBE margins.

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