Company: NGVT
Filing Date: 2025-03-14
Form Type: PREC14A
Source: 0001539497-25-000939
Chunk: 22

Company: Ingevity Corp
Filing Date: 2025-03-14
Form: PREC14A
Chunk 22
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 its own.

We believe that the
current Board of Ingevity will continue to struggle to implement an effective corporate strategy unless representatives of the stockholders
who are not beholden to Mr. Fernandez-Moreno are seated on the Board. In our view, the Board needs to be reconstituted with highly qualified
Board members to drive long-term value by removing the legacy directors that have presided over the Company for the past nine years. When
given the opportunity to select a new director, the Board picked a former colleague of Mr. Fernandez-Moreno—as stockholders, we
have no assurance that Mr. Willis is not beholden to Mr. Fernandez-Moreno and that this Board will not continue selecting Board members
with past relationships with existing directors.

<div align='center'>We Believe the Vision One Nominees Will Drive Change and Seek to Maximize Value for All Stockholders</div>

As members of the
Board, the Vision One Nominees would seek to facilitate the Company improving its performance by driving change, restoring good governance
practices, and implementing value-enhancing capital allocation strategies. We believe that the Vision One Nominees will be able to drive
long-term stockholder value by working collaboratively with the Company to address its ongoing challenges and by bringing new, objective,
and fully independent perspectives to the Board.

Vision One’s
view on how to address the Company’s ongoing challenges includes:

| ● | Restore investor confidence by addressing concerns regarding the entrenchment of the existing Board 
 through board refreshment with directors committed to increasing transparency;                      |

| ● | Elect new, stockholder-oriented directors; |

| ● | Focus on the Company’s Performance Materials business, which Vision                                                               
 One believes is a world-class business with industry leading profit margins, low capital requirements, and stable revenue growth; |

| ● | Exit the Company’s Performance Chemicals business as Vision One believes                                                  
 that the Company’s overall valuation is depressed due to the volatility the Company’s Performance Chemicals business; and |

| ● | Adopt new corporate governance safeguards, including: |

| o | Disbanding the Executive Committee; |

| o | Appointing a Lead Independent Director; |

| o | Forming a Strategy and Finance Committee to development a returns-based 
 capital allocation strategy; and                                        |

| o | Establishing director term limits. |

Our nominees are well
qualified, and we believe that their expertise would help to realign Ingevity’s operating and capital decisions and overall strategy