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PQ Group Holdings Accelerates Transformation: Enters Settlement to Offer Efficiency Chemical compounds Organization and Acquires Specialized niche Catalyst Activation Enterprise

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MALVERN, Pa.–(Small business WIRE)–PQ Group Holdings Inc. (NYSE:PQG), a leading integrated and progressive world company of specialty catalysts, substances and products and services, declared today that it has entered into a definitive settlement to sell its Overall performance Chemical compounds company to a partnership set up by Cerberus Money Administration, L.P. and Koch Minerals & Buying and selling LLC for a order price tag of $1.1 billion.

“We are thrilled by today’s announcement for the sale of our Functionality Chemical substances organization at a favorable valuation,” stated Belgacem Chariag, PQ’s Chairman, President and Chief Executive Officer. “In 2019, we laid out a “Easier + Much better” strategic route aimed at driving bigger value for our shareholders. The ideas we established in movement are now coming to fruition. At calendar year-stop 2020, we done the sale of the Effectiveness Resources organization as a to start with move. With this arrangement to divest the Performance Chemical substances company, we are accelerating the future and most vital stage in our strategic transformation. Our main Refining Providers and Catalysts Systems corporations represent a exclusive option to reposition PQ as a pure engage in, substantial expansion business.”

On the anticipated close in 2021 and finalization of internet cash proceeds, PQ designs to return funds to shareholders by means of a exclusive dividend of $2.50 to $3.25 for each share (subject matter to Board approval and declaration), which is envisioned to result in a personal debt reduction of $450 million to $550 million.

Citi is serving as direct money advisor with BMO Capital Markets Corp. as co-advisor, and Ropes & Grey LLP is serving as authorized counsel to PQ in the sale of Overall performance Substances. Jefferies, LLC served as monetary advisor, and Kirkland & Ellis LLP served as authorized advisor, to Cerberus and Koch. Jones Day served as lawful advisor to Koch.

In addition, on February 25, 2021, PQ signed an arrangement to purchase Chem32, LLC from its founders for a purchase selling price of $44 million to complement our Refining Solutions business. Chem32 is a leading supplier of catalyst pre-activation solutions used in the production of regular and renewable fuels. This addition, with its patented technology and services, is expected to develop speedily and produce strong margins.

“We are quite psyched to welcome the Chem32 team,” mentioned Kurt Bitting, President of PQ’s Refining Products and services company. “Chem 32 diversifies our service choices though providing us publicity to the fast expanding renewable fuels market.”

PQ administration will host a conference connect with and audio-only webcast on March 1, 2021 at 9:00 a.m. ET to discuss the transactions. Traders may possibly listen to the convention connect with dwell by using phone by dialing 1 (877) 876-9174 (domestic) or 1 (785) 424-1669 (worldwide) and use the participant code PQG032021. A reside audio webcast of the convention get in touch with and presentation elements can be accessed at http://trader.pqcorp.com. A replay of the convention connect with/webcast will be designed available at http://trader.pqcorp.com/occasions-presentations.


Nahla A. Azmy

(610) 651-4561

[email protected]

About PQ Group Holdings Inc.

PQ Team Holdings Inc. is a top built-in and ground breaking world supplier of specialty catalysts, chemicals and expert services. We assist shoppers globally as a result of our strategically found network of production amenities. We believe that that our products, which are predominantly inorganic, and expert services add to bettering the sustainability of the natural environment. We have three uniquely positioned specialty enterprises: Refining Products and services supplies sulfuric acid recycling to the North American refining marketplace Catalysts serves the packaging and engineering plastics and the international refining, petrochemical and emissions regulate industries and Performance Chemical substances provides diverse solution end uses, including individual and industrial cleaning solutions, gas efficient tires, surface coatings, and foodstuff and beverage products and solutions. For far more facts, see our website at https://www.pqcorp.com.

Notice on Ahead-Wanting Statements

Some of the information contained in this push release constitutes “forward-looking statements.” Forward-seeking statements can be identified by text this kind of as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects” and equivalent references to potential intervals. Ahead-seeking statements are based mostly on our latest anticipations and assumptions with regards to our business enterprise, the financial system and other long term circumstances. Due to the fact forward-on the lookout statements relate to the long term, they are matter to inherent uncertainties, dangers and variations in situation that are challenging to forecast. Examples of ahead-looking statements include things like, but are not restricted to, statements about the sale of the Efficiency Chemicals enterprise section, like the intended use of proceeds therefrom, our long term advancement potential customers and potential strategic transactions. Our genuine benefits could differ materially from people contemplated by the forward-searching statements. We warning you, thus, versus relying on any of these ahead-seeking statements. They are neither statements of historic fact nor assures or assurances of foreseeable future effectiveness. Significant factors that could induce true effects to differ materially from these in the forward-wanting statements include, but are not restricted to, our capacity to shut on the sale of the General performance Substances enterprise section on our foresee timeline, our ability to properly integrate Chem32, regional, nationwide or world political, economic, business, competitive, marketplace and regulatory conditions, such as the ongoing COVID-19 pandemic, tariffs and trade disputes, forex exchange costs and other variables, including these explained in the sections titled “Risk Factors” and “Management Discussion & Evaluation of Economical Ailment and Outcomes of Operations” in our filings with the SEC, which are obtainable on the SEC’s web site at www.sec.gov. These forward-hunting statements speak only as of the date of this release. Things or functions that could lead to true results to vary may well arise from time to time, and it is not doable for us to predict all of them. We undertake no obligation to update any ahead-wanting statement, irrespective of whether as a consequence of new data, long term developments or otherwise, except as might be required by applicable legislation.

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