Company: NGVT
Filing Date: 2025-03-14
Form Type: PREC14A
Source: 0001539497-25-000939
Chunk: 13

Company: Ingevity Corp
Filing Date: 2025-03-14
Form: PREC14A
Chunk 13
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, Vision One issued a presentation regarding Ingevity as Vision One believes that the Company’s other stockholders have similar concerns. In the presentation, Vision One highlighted its concerns regarding the failed corporate strategy of the Company’s legacy directors and offered its view on how to address the Company’s ongoing challenges by:

| ● | Focusing 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;                                                                                                                          |

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

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

| ● | Providing new, stockholder-oriented directors with                                                
 an opportunity to participate in the selection of the Company’s next Chief Executive Officer; and |

| ● | Adopting new corporate governance safeguards, including                                                                                     
 disbanding the Executive Committee, appointing a lead director, forming a Strategy and Finance Committee to develop a returns-based capital 
 allocation strategy, and establishing director term limits.                                                                                 |

| 10 |

Vision One believed that, due to the lack of any real discussion with the Board about Vision One’s views regarding the Company, the public sharing of its views regarding the Company was necessary to drive the public conversation regarding the Company’s needed transformation and to increase accountability going forward. Vision One also believes that the Company’s other stockholders will benefit from an open discussion of Vision One’s views on how to address the Company’s challenges.

Vision One believed that publicly sharing its views would discourage the Company from appointing a new chief executive officer before the Company’s Annual Meeting, which would allow the directors elected at the Annual Meeting, which might include the Vision One Nominees, an opportunity to participate in the selection of the Company’s new chief executive officer. Instead, the Board pushed ahead without regard to stockholders’ concerns and announced a new chief executive officer a few days after Vision One publicly shared its concerns.

On February 25, 2025, the Company issued a press release indicating that it “remains open to resolving this matter constructively with Vision One.” While the Participants are committed to working collaboratively with the Company, the Participants remain skeptical that the Company will act in a constructive manner given the resistance it has experienced in its past