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

Company: Ingevity Corp
Filing Date: 2025-03-24
Form: PRRN14A
Chunk 24
---
 and capital decisions and overall strategy
and focus on decision making that is in the best interests of the Company’s stockholders.

If each of the Vision
One Nominees are elected, they will represent two out of nine members of the Board. There can be no assurance that the Vision One Nominees
will be able to implement the actions that the Participants believe are necessary to enhance stockholder value as the Vision One Nominees
will not constitute a majority of the Board. However, the Vision One Nominees expect to be able to actively engage other Board members
in full discussion of the issues facing the Company and resolve them together. By utilizing their experience and working constructively
with other Board members, the Vision One Nominees believe they can effect positive change at the Company.

| 16 |

Stockholders are permitted to vote for any combination (up to nine (9) total) of the Vision One Nominees and the Company’s nominees on the GOLD universal proxy card. If stockholders choose to vote for any of the Company’s nominees, we recommend that stockholders “WITHHOLD” on Jean S. Blackwell and Daniel F. Sansone, and “FOR”
on the Company’s other seven (7) nominees (Luis Fernandez-Moreno, Diane H. Gulyas, Bruce D. Hoechner, Frederick J. Lynch, Karen G. Narwold, J. Kevin Willis, and Benjamin G. (Shon) Wright).

The Participants recommend
that stockholders “WITHHOLD” on:

| (1) | Jean S. Blackwell, age 70, director since 2016 (Chair of the Board since 2021, member of the Talent and Compensation Committee and the Nominating and Governance Committee); and |

| (2) | Daniel F. Sansone, age 72, director since 2016 (Chair of Audit Committee, Member of Executive Committee and the Talent and Compensation Committee). |

Each of Ms. Blackwell and Mr. Sansone has been a director of the Company since its spinoff in 2016. During their tenure:

| · | Relative TSR is -72%;1 |

| · | Net debt and financial leverage have tripled;2 |

| · | Free cash flow and return on invested capital have decreased by more than -50%;3 |

1 Bloomberg measures TSR by calculating the total return to stockholders over a specific period, factoring in both share price appreciation and dividends, with the assumption that dividends are rein