Company: NGVT
Filing Date: 2025-03-24
Form Type: PRRN14A
Source: 0001539497-25-001025
Chunk: 18

Company: Ingevity Corp
Filing Date: 2025-03-24
Form: PRRN14A
Chunk 18
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 interests of all of the Company’s stockholders.

<div align='center'>Ingevity is Underperforming its Peers as Evidenced by its TSR</div>

Ingevity’s Total Shareholder Return
(“”) has resulted in worst-in-class TSR over for the time period from the start of the Company’s acquisition
spree and for the one-, three- and five-year time periods.

| Total Shareholder Returns2                   |                                   |         |         |         |
|                                              | From Start of Acquisitions Spree3 | 1-Year4 | 3-Year4 | 5-Year4 |
| Ingevity Corporation (NYSE: NGVT)            | (42.0)%                           |  (4.2)% | (32.8)% | (5.3)%  |
| S&P 400 Index5                               | 80.0%                             |   10.1% | 22.0%   | 73.9%   |
| S&P Chemicals Index6                         | 23.9%                             |  (5.1)% | (0.8)%  | 55.3%   |
| S&P Materials Index7                         | 57.7%                             |    5.0% | 12.8%   | 87.1%   |
| Ingevity Corporation’s Relative Performance8 |                                   |         |         |         |
| NGVT compared to S&P 400 Index               | (122.0)%                          | (14.3)% | (54.8)% | (79.1)% |
| NGVT compared to S&P Chemicals Index         | (65.9)%                           |     1.0 | (32.0)% | (60.5)% |

Source: Bloomberg. Total Shareholder Returns as of February 24, 2025 –
one day prior to Vision One publicly announcing its intent to nominate directors to the Company’s Board for the Annual Meeting

Refers to the time period beginning on March 8, 2018, which was the date on which the Company acquired Georgia-Pacific’s Pine Chemicals business, and ending on February 24, 2025, which was one day prior to Vision One publicly announcing its intent to nominate directors to the Company’s Board. During this period, the Company acquired (i) the Pine Chemicals business from Georgia-Pacific, which closed on March 8, 2018 (referred