Company: NGVT
Filing Date: 2025-03-26
Form Type: DEFC14A
Source: 0001539497-25-001044
Chunk: 25

Company: Ingevity Corp
Filing Date: 2025-03-26
Form: DEFC14A
Chunk 25
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6 (the day of formal completion of the Company’s spinoff from WestRock Company) was $26.86
per Share. The Company has not paid dividends in its history. The closing price of the Shares was $46.11 per Share on February 24, 2025 (one day prior to the date on which Vision One publicly announced its intent to nominate directors to the Company’s Board for the Annual Meeting). NGVT’s share price appreciation plus dividends paid in the period between May 16, 2016 to February 24, 2025 represents a TSR of 72%. During the same period, the S&P 400 Midcap index generated a TSR of 144%,
which reflects 113% price appreciation plus 31% from dividends reinvested in the index at the time of dividend payment. Information derived from Bloomberg and the Company’s filings with the SEC.

11 Refers to the Company’s Net Debt of $286 million as of December 31, 2017, as compared to the Company’s Net Debt of $1,296 million as of February 24, 2025 (one day prior to the date on which Vision One publicly announced its intent to nominate directors to the Company’s Board for the Annual Meeting). Net Debt is defined as total
long-term debt minus cash and cash equivalents. Information derived from Bloomberg and the Company’s filings with the SEC.

Refers to the Company’s financial leverage of 1.2x Net Debt to EBITDA as of December 31, 2017, as compared to the Company’s financial leverage of 3.5x Net Debt to EBITDA as of February 24, 2025 (one day prior to the date on which Vision One publicly announced its intent to nominate directors to the Company’s Board for the Annual Meeting). Financial leverage is calculated as Net Debt divided by the trailing-twelve months
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”). Information derived from Bloomberg and the Company’s filings with the SEC.

12 Refers to the Company’s free cash flow of $122 million as of December 31, 2017, as compared to the Company’s free cash flow of $51 million as of February 24, 2025 (one day prior to the date on which Vision One publicly announced its intent to nominate directors to the Company’s Board for the Annual Meeting). Free cash flow
is defined as trailing-twelve months operating cash flow under generally accepted accounting principles minus