Solvay Investor Presentation — November 2019

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November 7, 2019Q3 2019 ResultsFORENOTE

2November 7, 20199 Months 2019 ResultsIFRS 16hasbeen implemented intheGroup’s financial statements since January 1,2019 .Comparative information forthe

firstquarter of2018 inthebusiness review ispresented onanunaudited proforma basis asiftheimplementation hadtaken

place onJanuary 1,2018 .This information islabelled “pro forma” or“PF”.The balance sheet evolution iscompared with

January 1,2019 ,which includes theIFRS 16impact versus December 31,2018 .

Besides IFRS accounts, Solvay also presents underlying Income Statement performance indicators toprovide amore

consistent andcomparable indication oftheGroup’s financial performance .The underlying performance indicators adjust

IFRS figures forthenon-cash Purchase Price Allocation (PPA) accounting impacts related toacquisitions, forthecoupons of

perpetual hybrid bonds, classified asequity under IFRS buttreated asdebt intheunderlying statements, and forother

elements thatwould distort theanalysis oftheGroup’s underlying performance .

Focus on cost, cash and customers in a challenging macro environment

3November 7, 20199 Months 2019 ResultsNet Sales Underlying EBITDAFree Cash Flow

to Solvay shareholders

-0.7% Y/Y organically

+1.6% including forex & scope€1,796 M

-2.6% Y/Y organically

-0.2% inclu ding forex & scope€345 M

from continued operations

Volumes impacted by headwinds

in automotive, electronics

and oil & gasPositive net pricing and forex

offset lower volumes, higher raw

materials and fixed costs

Sustained margin at 23%Disciplined working capital

-2.7% Y/Y organically

-0.5% including forex & scope€601 M

-1.8% Y/Y organically

+0.4% including forex & scope€313 M

from continued operations9M 2019 PERFORMANCE

•Aerospace market growth trends

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