| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------------------------------------------------------|

| Delaware                                                                                           | 52-2183153                              |
|----------------------------------------------------------------------------------------------------|-----------------------------------------|
| (State or other jurisdiction of incorporation or organization)                                | (I.R.S. Employer Identification Number) |
|                                                                                               |                                    |
| 1818 Market Street, Suite 3700, Philadelphia, Pennsylvania199 Benson Road, Middlebury, Connecticut | 1910306749                              |
| (Address of principal executive offices)                                                      | (Zip Code)                              |

| Title of each class           | Name of each exchange on which registered |
|-------------------------------|-------------------------------------------|
|                          |                                      |
| Common Stock, $0.01 par value | NONE                                      |

| Large accelerated filer  ̈ | Accelerated filer x | Non-accelerated filer  ̈ | Smaller reporting company  ̈ |
|--------------------------------|---------------------|------------------------------|----------------------------------|

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|     |   |                                                                                                         | Page   |
|----------|--------|--------------------------------------------------------------------------------------------------------------|--------|
| PART I   |   |                                                                                                         |   |
| Item 1.  |   | Business                                                                                                     | 2      |
|     |   |                                                                                                         |   |
| Item 1A. |   | Risk Factors                                                                                                 | 16     |
|     |   |                                                                                                         |   |
| Item 1B. |   | Unresolved Staff Comments                                                                                    | 26     |
|     |   |                                                                                                         |   |
| Item 2.  |   | Properties                                                                                                   | 26     |
|     |   |                                                                                                         |   |
| Item 3.  |   | Legal Proceedings                                                                                            | 28     |
|     |   |                                                                                                         |   |
| Item 4.  |   | Reserved                                                                                                     | 28     |
|     |   |                                                                                                         |   |
| PART II  |   |                                                                                                         |   |
| Item 5.  |   | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 29     |
|     |   |                                                                                                         |   |
| Item 6.  |   | Selected Financial Data                                                                                      | 31     |
|     |   |                                                                                                         |   |
| Item 7.  |   | Management's Discussion and Analysis of Financial Condition and Results of Operations                        | 33     |
|     |   |                                                                                                         |   |
| Item 7A. |   | Quantitative and Qualitative Disclosures About Market Risk                                              | 62     |
|     |   |                                                                                                         |   |
| Item 8.  |   | Financial Statements and Supplementary Data                                                                  | 63     |
|     |   |                                                                                                         |   |
| Item 9.  |   | Changes In and Disagreements with Accountants on Accounting and Financial Disclosure                         | 127    |
|     |   |                                                                                                         |   |
| Item 9A. |   | Controls and Procedures                                                                                      | 127    |
|     |   |                                                                                                         |   |
| Item 9B. |   | Other Information                                                                                            | 128    |
|     |   |                                                                                                         |   |
| PART III |   |                                                                                                         |   |
| Item 10. |   | Directors, Executive Officers and Corporate Governance                                                       | 128    |
|     |   |                                                                                                         |   |
| Item 11. |   | Executive Compensation                                                                                       | 129    |
|     |   |                                                                                                         |   |
| Item 12. |   | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters          | 129    |
|     |   |                                                                                                         |   |
| Item 13. |   | Certain Relationships and Related Transactions and Director Independence                                     | 129    |
|     |   |                                                                                                         |   |
| Item 14. |   | Principal Accountant Fees and Services                                                                       | 129    |
|     |   |                                                                                                         |   |
| PART IV  |   |                                                                                                         |   |
| Item 15. |   | Exhibits and Financial Statement Schedules                                                              | 130    |
|     |   |                                                                                                         |   |
|     |   | Signatures                                                                                                   | 133    |
|     |   |                                                                                                         |   |

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|   | • | Our Key Businesses Have Industry Leading Positions: Many of our key businesses and products hold leading positions within the various industries they serve. We believe our scale and global reach in product development and marketing provide us with advantages over many of our smaller competitors. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Operating Segment          |   | Business Component       |   | Industry Position / Commentary                                                                                                                                                                                                                                                       |
|---------------------------------|--------|-------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Consumer Products               |   | Consumer Products             |   | • One of the two largest global marketers and sellers of recreational water products used in pools and spas                                                                                                                                                                                   |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
| Industrial Performance Products |   | Petroleum Additives           |   | • Global manufacturer and marketer of high-performance lubricant additive components and synthetic lubricant base-stocks and synthetic finished fluids  • Global manufacturer and marketer of high performing calcium sulfonate specialty greases and phosphate ester based fluids |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
|                            |   | Urethanes                     |   | • A global leader in the development and production of hot cast elastomer pre-polymers                                                                                                                                                                                                        |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
|                            |   | Antioxidants                  |   | • A global leader in the development and production of a broad range of additives for the polymer industry                                                                                                                                                                                    |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
| Chemtura AgroSolutionsTM   |   | Chemtura AgroSolutionsTM |   | • A leading niche developer and manufacturer of seed treatments, fungicides, miticides, insecticides, growth regulants and herbicides                                                                                                                                                         |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
| Industrial Engineered Products  |   | Great Lakes Solutions         |   | • One of the three largest global developers and manufacturers of bromine and bromine-based products                                                                                                                                                                                          |
|                            |   |                          |   |                                                                                                                                                                                                                                                                                                |
|                            |   | Organometallics               |   | • One of the three largest global developers and manufacturers of organometallic compounds, with applications in catalysts, surface treatment and pharmaceuticals                                                                                                                             |

|   | • | Broad Diversified Business: |
|--------|---------|-----------------------------|

|   | • | Geographic diversity.Our worldwide manufacturing, sales and marketing network enables us to serve the needs of both local and global customers worldwide. As of December 31, 2010, we operated 31 manufacturing facilities in 13 countries.  For the year ended December 31, 2010, 47% of our revenue was generated from net sales in the United States and Canada, 29% from net sales in Europe and Africa, 19% from net sales in Asia/Pacific and 5% from net sales in Latin America. We market and sell our products in more than 100 countries, providing the opportunity to develop new markets for our products in higher-growth regions. We have built upon our historical strength in theUnited States and Europe to expand our business geographically, thereby diversifying our exposure to many different economies. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | Product and industry diversity. We are comprised of a number of distinct businesses, each of which is impacted by varied industry trends. Additionally, our business portfolio serves diverse industries and applications, thereby providing us with further diversification. For instance, despite the current general and industry-specific economic conditions, certain parts of our businesses have performed in line with historical norms through the recession: |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | In 2010, our Consumer Products segment increased its profitability over 2008 and 2009 despite the pressures on consumer spending due to the recession. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | The lubricant additives used in transportation applications experienced customer inventory corrections at the outset of the recession, but recovered more quickly than the broader industrial sector because the number of miles driven, flown and sailed remained at pre-recession levels. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | The demand for our products used in electronic applications has recovered much more quickly than demand from other industrial applications. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Diversified customer base. We have a large and diverse global customer base in a broad array of industries. No single customer comprises more than ten percent of our consolidated 2010 net sales. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Unique Industry Positions: We believe our businesses possess significant differentiation within their respective industry segments. Some of our businesses are vertically integrated into key feedstocks and others have strong brand recognition, long lead time product registrations or technical and formulatory know-how. We believe these attributes are difficult to replicate and allow us to attract customers looking for consistent performance, reliability and cost-effective results, and are distinct competitive advantages. Examples include: |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our Industrial Engineered Products segment has extensive brine fields in Arkansas from which we extract brine to produce bromine, which is used as a building block for products such as flame retardants. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our Industrial Performance Products segment participates in a production joint venture that produces cost competitive alkylated diphenylamine, a building block for our Naugalube® antioxidants used in lubricants. This segment also develops urethanes, the production of which is enhanced by our technical and formulatory know-how that permits us to engineer our products to meet specific customer needs and antioxidants, for which we are the only producer of such products in the Middle East, allowing us to offer superior service and security of supply to the region’s fast-growing polyolefin industry. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our Consumer Products segment benefits from well-established brand names as well as registrations and certifications from government agencies and customers. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | Our Chemtura AgroSolutionsTM segment is well experienced in obtaining the required registrations for its products in each country in which they are sold. Once obtained, these registrations provide an exclusive right to use the active compound upon which the product is based for the specified crop in that country or region for a number of years. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Well Positioned to Grow in Emerging Markets: Our businesses’ product portfolios have positioned us to benefit from high growth emerging market regions in the future. We derived 24% of our revenues during 2010 from key emerging markets including Asia/Pacific and Latin America. We will continue to invest in emerging markets as their polymer production increases, their manufacturing of electronic products expands, their automotive industries build vehicles that meet emission standards such that they can be exported to western markets, and their growers seek to increase the exports of their produce. There are a limited number of suppliers that can supply the products or provide the technical support that customers in these regions require, giving us the opportunity to capture this growth in demand for our products. Additionally, we arestrongly positioned to supply the polyolefin industry in the Middle East through our existing antioxidants joint venture in Saudi Arabia and our recently announced organometallics joint venture in Saudi Arabia which will produce components for polymerization catalysts in the region. We also participate in a joint venture within Asia that produces polymer antioxidants. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Emerged from Chapter 11 a Stronger and Leaner Company: |
|--------|---------|--------------------------------------------------------|

|   | • | Significantly reduced indebtedness with improved liquidity. As of December 31, 2010, we have $751 million of total consolidated indebtedness, $201 million of cash and cash equivalents and approximately $275 million of lending commitments under our new five year senior secured revolving credit facility (the “ABL Facility”) with Bank of America, N.A., as administrative agent and the other lenders party thereto, which also permits us to enter into a foreign asset-based financing arrangement.  The $275 million of lending commitments was un-drawn other than to support the issuance of $12 million in letter of credit obligations.  For comparison, as of December 31, 2009, we had approximately $1.4 billion of total consolidated indebtedness. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Improved cost structure. We have significantly improved our cost structure over the past two years and reduced our cash fixed costs substantially compared to prior years.  From December 31, 2007 through the end of 2010, we reduced our workforce by approximately 900 employees, including the transfer of employees as part of the sale of the PVC additives business and a reduction of over 400 professional and administrative positions.  Since the end of 2007, we have significantly reduced underperforming assets by closing or selling 6 plants and moving to third-party warehousing in a number of our businesses.  These actions have eliminated underperforming assets and reduced fixed costs or made them variable.  We will continue to manage our costs and improve the efficiency of our operations in 2011 and beyond. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Reduced environmental and other liabilities. Following our emergence from Chapter 11, we discharged a significant amount of our environmental and contingent liability exposure. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Focused, Experienced Management Team: We are led by Craig A. Rogerson, who was elected Chairman, President and Chief Executive Officer in December 2008. Mr. Rogerson holds a chemical engineering degree from Michigan State University and has over 31 years of operating and leadership experience in the specialty chemicals industry. Mr. Rogerson is supported by a senior management team that has extensive operational and financial experience in the specialty chemicals industry.  Our senior management team is focused on creating a culture of performance and accountability that can leverage the global economic recovery and the long-term trends in the industries we serve to drive profitable revenue growth.  For more information on our executive officers, see Item 10. Directors, Executive Officers and CorporateGovernance. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Technology-Driven Growth through Innovation.  As a specialty chemical developer and manufacturer, our competitive strength lies in our ability to continue to develop and engineer new products and processes that meet our customers’ changing needs.  We are investing in innovation to strengthen our new product pipelines and will license or acquire technologies to supplement these initiatives.  We focus on the development of products that are sustainable, meet ecological concerns and capitalize on growth trends in the industries we serve. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Regional Growth through Building Global Scale.  We are building our local presence in the rapidly expanding emerging markets through sales representation, technical development centers, joint ventures and local manufacturing.  We empower our regional teams to serve their growing customer base and will supplement these efforts through “bolt-on” acquisitions where increased demand makes it appropriate.  We exploit our global scale by sharing service functions and technologies that no one region or business could replicate on its own while utilizing our regional presence to lower raw material costs. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Performance-Driven Culture.  We believe we have outstanding people who can deliver superior performance under strong, experienced leaders who instill a culture of accountability.  We expect accountability on safety, environmental stewardship and reliability of orders.  Our performance is focused on understanding the needs of our customers and meeting such needs by efficiently executing their orders and delivering technology based solutions that meet their requirements in order to become their preferred supplier.  We measure our performance against benchmarks and metrics using statistical analysis. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Portfolio and Cost Management.  We will continue to actively manage our portfolio of specialty chemical businesses to maximize their value.  We seek to strengthen our businesses by building on our leading market positions and increasing differentiation of our products while pruning or exiting underperforming products and managing costs. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                  |   | Consumer                                                                                                                                                                                                                                                |   | Industrial                                                                                                                                                                                                                                                                                                           |   | Chemtura                                                                                                                                                                                                                                                                                                                                               |   | Industrial                                                                                                                                                                                                                                             |
|-----------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                  |   | Products                                                                                                                                                                                                                                                |   | Performance Products                                                                                                                                                                                                                                                                                            |   | AgroSolutionsTM                                                                                                                                                                                                                                                                                                                                        |   | Engineered Products                                                                                                                                                                                                                               |
|                  |   |                                                                                                                                                                                                                                                    |   |                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                   |
| 2010 Net Sales        |   | $458 million                                                                                                                                                                                                                                            |   | $1,223 million                                                                                                                                                                                                                                                                                                       |   | $351 million                                                                                                                                                                                                                                                                                                                                           |   | $728 million                                                                                                                                                                                                                                           |
|                  |   |                                                                                                                                                                                                                                                    |   |                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                   |
| Key Products          |   | •Swimming Pool & Spa Chemicals•Cleaning Products                                                                                                                                                                                        |   | •Petroleum Additives•Urethanes•Antioxidants•UV Stabilizers•Elastomer Additives                                                                                                                                                                                                         |   | •Seed Treatment•Fungicides•Miticides•Insecticides•Growth Regulants•Herbicides                                                                                                                                                                                                                                      |   | •Brominated Performance Products•Flame Retardants•Fumigants•Organometallics                                                                                                                                               |
|                  |   |                                                                                                                                                                                                                                                    |   |                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                   |
| Major End-Use Markets |   | •Cleaners•Pools and Spas•Small Resorts                                                                                                                                                                                           |   | •Adhesives•Automotive•Building and Construction•Coatings•Consumer Products•Engine and Gear Oils•Industrial Oils and Greases•Lubricants•Packaging•Sealants                                                                                           |   | •Agriculture                                                                                                                                                                                                                                                                                                                      |   | •Agriculture•Automotive•Building and Construction•Coatings•Consumer Durables•Electronics•Fine Chemical•Oilfield•Paints and Polymers•Pharmaceuticals•Plastics•Power•Solar |
|                  |   |                                                                                                                                                                                                                                                    |   |                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                   |
| Key Brands            |   | Aqua Chem®BAYROL®BioGuard®Cristal®Greased Lightning®Guardex®Miami®Mineral Springs®Omni®Pool Time®Poolbrite®ProGuard®Spa Essentials®SpaGuard®SpaTime®Sun®The Works® |   | Adiprene Duracast®Adiprene®Anderol®Anox®Durad®Fomrez®Hatcol®Hybase®Lobase®Lowilite®Lowinox®Naugalube®Naugard®Polybond®Reolube®Royaltuf®Royco®Synton®Trixene®Ultranox®Vibrathane®Weston®Witcobond® |   | Acramite®Adept®Anchor®Blizzard®B-Nine®Casoron®Dimilin®Enhance®Firestorm®Floramite®Flupro®Grain Guard®Micromite®Off-Shoot T®Omite®Pantera®ProCure®Rancona®Rimon®Royal MH-30®Royaltac®Temprano®Terraguard®Vitavax®Viticure® |   | AXION®Emerald®Firemaster®Fyrebloc®GeoBrom®Kronitex®Pyrobloc®Smokebloc®Thermoguard®Timonox®                                                                                                      |

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|   | · | petroleum additives that provide detergency, friction modification and corrosion protection in automotive and industrial lubricants and greases, synthetic finished lubricants, synthetic base-stocks and greases used in aviation, industrial and refrigeration applications; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | castable urethane prepolymers engineered to provide superior abrasion resistance and durability in many industrial and recreational applications; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | polyurethane dispersions and urethane prepolymers used in various types of coatings such as wood floor finishes, glass fiber coatings and textile treatments; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | plastic antioxidants additives that inhibit the degradation of polymers caused by air and heat during manufacture and use; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | · | UV stabilizers additives that protect materials against the harmful effects of UV light; and |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | elastomer additives products that protect elastomers and rubber compounds such as tires from cracking and deteriorating from exposure to ozone as well as providing resistance to oxygen and heat degradation. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | cease selling products that contain asserted intellectual property; |
|--------|--------|---------------------------------------------------------------------|

|   | · | pay substantial damages for past use of the asserted intellectual property; |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | obtain a license from the holder of the asserted intellectual property, which may not be available on reasonable terms; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|

|   | · | redesign or rename, in the case of trademark claims, our products to avoid infringing the rights of third parties. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

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| Location                           |   | Facility                                |   | Reporting Segment                                              |
|------------------------------------|--------|-----------------------------------------|--------|----------------------------------------------------------------|
|                               |   |                                    |   |                                                           |
| UNITED STATES                      |   |                                    |   |                                                           |
| Alabama                            |   |                                    |   |                                                           |
|      Bay Minette    |   | Plant                                   |   | Industrial Performance Products                                |
|                               |   |                                    |   |                                                           |
| Arkansas                           |   |                                    |   |                                                           |
|      El Dorado      |   | Plant                                   |   | Industrial Engineered Products                                 |
|                               |   |                                    |   |                                                           |
| California                         |   |                                    |   |                                                           |
|      McFarland      |   | Repackaging Warehouse                   |   | Industrial Engineered Products                                 |
|                               |   |                                    |   |                                                           |
| Connecticut                        |   |                                    |   |                                                           |
|      Middlebury*    |   | Executive Offices, Research Center |   | Corporate Offices                                              |
|      Naugatuck      |   | Research Center                         |   | Industrial Performance Products                                |
|                               |   |                                    |   |                                                           |
| Georgia                            |   |                                    |   |                                                           |
|      Conyers        |   | Plant                                   |   | Consumer Products                                              |
|      Lawrenceville* |   | Office, Research Center                 |   | Consumer Products, Chemtura AgroSolutionsTM               |
|                               |   |                                    |   |                                                           |
| Illinois                           |   |                                    |   |                                                           |
|      Mapleton       |   | Plant                                   |   | Industrial Engineered Products                                 |
|      Pekin*         |   | Plant                                   |   | Chemtura AgroSolutionsTM                                  |
|                               |   |                                    |   |                                                           |
| Indiana                            |   |                                    |   |                                                           |
|      West Lafayette |   | Office, Research Center                 |   | Industrial Engineered Products                                 |
|                               |   |                                    |   |                                                           |
| Louisiana                          |   |                                    |   |                                                           |
|      Lake Charles   |   | Plant                                   |   | Consumer Products                                              |
|      Westlake       |   | Land                                    |   | Consumer Products                                              |
|                               |   |                                    |   |                                                           |
| Michigan                           |   |                                    |   |                                                           |
|      Adrian         |   | Plant                                   |   | Consumer Products                                              |
|                               |   |                                    |   |                                                           |
| New Jersey                         |   |                                    |   |                                                           |
|      East Hanover   |   | Plant                                   |   | Industrial Performance Products                                |
|      Fords          |   | Plant                                   |   | Industrial Performance Products                                |
|      Perth Amboy    |   | Plant                                   |   | Industrial Performance Products                                |
|                               |   |                                    |   |                                                           |
| North Carolina                     |   |                                    |   |                                                           |
|      Gastonia       |   | Plant                                   |   | Industrial Performance Products, Chemtura AgroSolutionsTM |
|                               |   |                                    |   |                                                           |
| Pennsylvania                       |   |                                    |   |                                                           |
|      Philadelphia*  |   | Executive Offices                       |   | Corporate Offices                                              |
|                               |   |                                    |   |                                                           |
| West Virginia                      |   |                                    |   |                                                           |
|      Morgantown     |   | Plant, Research Center                  |   | Industrial Performance Products                                |

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| Location                         |   | Facility               |   | Reporting Segment                                                |
|----------------------------------|--------|------------------------|--------|------------------------------------------------------------------|
|                             |   |                   |   |                                                             |
| INTERNATIONAL                    |   |                   |   |                                                             |
| Australia                        |   |                   |   |                                                             |
|      Sydney       |   | Office                 |   | Corporate Office                                                 |
|                             |   |                   |   |                                                             |
| Brazil                           |   |                   |   |                                                             |
|      Rio Claro    |   | Plant                  |   | Industrial Engineered Products, Industrial Performance Products, |
|                             |   |                   |   | Chemtura AgroSolutionsTM                                    |
|      Sao Paulo*   |   | Office                 |   | Industrial Engineered Products, Industrial Performance Products, |
|                             |   |                   |   | Chemtura AgroSolutionsTM                                    |
|                             |   |                   |   |                                                             |
| Canada                           |   |                   |   |                                                             |
|      Elmira       |   | Plant                  |   | Industrial Performance Products, Chemtura AgroSolutionsTM,  |
|                             |   |                   |   | Industrial Engineered Products                                   |
|      Guelph       |   | Research Center        |   | Chemtura AgroSolutionsTM                                    |
|      West Hill    |   | Plant                  |   | Consumer Products, Industrial Performance Products               |
|                             |   |                   |   |                                                             |
| France                           |   |                   |   |                                                             |
|      Catenoy      |   | Plant                  |   | Industrial Performance Products                                  |
|      Dardilly*    |   | Office                 |   | Consumer Products                                                |
|                             |   |                   |   |                                                             |
| Germany                          |   |                   |   |                                                             |
|      Bergkamen*   |   | Plant, Research Center |   | Industrial Engineered Products                                   |
|      Waldkraiburg |   | Plant                  |   | Industrial Performance Products                                  |
|      Planegg*     |   | Office                 |   | Consumer Products                                                |
|                             |   |                   |   |                                                             |
| Israel                           |   |                   |   |                                                             |
|      Beer Sheva1  |   | Plant                  |   | Industrial Engineered Products                                   |
|                             |   |                   |   |                                                             |
| Italy                            |   |                   |   |                                                             |
|      Latina       |   | Plant                  |   | Industrial Performance Products, Chemtura AgroSolutionsTM   |
|      Milan2       |   | Office                 |   | Industrial Performance Products                                  |
|      Pedrengo     |   | Plant                  |   | Industrial Performance Products                                  |
|                             |   |                   |   |                                                             |
| Mexico                           |   |                   |   |                                                             |
|      Altamira     |   | Plant                  |   | Industrial Engineered Products, Industrial Performance Products  |
|      Cuautitlan   |   | Plant                  |   | Industrial Engineered Products, Industrial Performance Products  |
|      Reynosa      |   | Plant                  |   | Industrial Engineered Products                                   |
|                             |   |                   |   |                                                             |
| The Netherlands                  |   |                   |   |                                                             |
|       Amsterdam   |   | Plant                  |   | Chemtura AgroSolutionsTM                                    |

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| Location                               |   | Facility               |   | Reporting Segment                                                                |
|----------------------------------------|--------|------------------------|--------|----------------------------------------------------------------------------------|
|                                   |   |                   |   |                                                                             |
| Republic of China                      |   |                   |   |                                                                             |
|      Nanjing            |   | Plant, Research Center |   | Industrial Performance Products                                                  |
|      Shanghai*          |   | Office                 |   | Corporate                                                                        |
|                                   |   |                   |   |                                                                             |
| Saudi Arabia                           |   |                   |   |                                                                             |
|      Madinat Al-Jubail3 |   | Plant                  |   | Industrial Performance Products                                                  |
|                                   |   |                   |   |                                                                             |
| South Africa                           |   |                   |   |                                                                             |
|      Atlantis           |   | Plant                  |   | Consumer Products                                                                |
|      Boksburg           |   | Office                 |   | Chemtura AgroSolutionsTM                                                    |
|      Kylami             |   | Office                 |   | Industrial Performance Products                                                  |
|                                   |   |                   |   |                                                                             |
| South Korea                            |   |                   |   |                                                                             |
|      Pyongtaek4         |   | Plant                  |   | Industrial Performance Products                                                  |
|                                   |   |                   |   |                                                                             |
| Switzerland                            |   |                   |   |                                                                             |
|      Frauenfeld*        |   | Office                 |   | Industrial Engineered Products, Corporate, Chemtura AgroSolutionsTM         |
|                                   |   |                   |   |                                                                             |
| Taiwan                                 |   |                   |   |                                                                             |
|      Kaohsiung          |   | Plant                  |   | Industrial Engineered Products, Industrial Performance Products                  |
|                                   |   |                   |   |                                                                             |
| United Kingdom                         |   |                   |   |                                                                             |
|      Accrington         |   | Plant                  |   | Industrial Performance Products                                                  |
|      Cheltenham         |   | Office/Tech Center     |   | Consumer Products                                                                |
|      Droitwich          |   | Plant                  |   | Industrial Performance Products                                                  |
|      Evesham            |   | Research Center        |   | Chemtura AgroSolutionsTM                                                    |
|      Langley*           |   | Office                 |   | Chemtura AgroSolutionsTM, Corporate                                         |
|      Trafford Park      |   | Plant, Office          |   | Industrial Engineered Products,  Industrial Performance Products, Corporate |

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| Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |
|---------|--------------------------------------------------------------------------------------------------------------------|

|                           |   | 2010   |   |
|--------------------------------|--------|--------|--------|
|                           |   | First  |   |   | Second |   |   | Third |   |   | Fourth |   |
| Dividends per common share (a) |   | $      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Market price per common share: |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| High                           |   | $      | 1.71   |   |   | $ | 1.78 |   |   | $ | 0.68 |   |   | $ | 16.10 |   |
| Low                            |   | $      | 1.00   |   |   | $ | 0.55 |   |   | $ | 0.29 |   |   | $ | 0.28 |   |
|                           |   | 2009   |   |
|                           |   | First  |   |   | Second |   |   | Third |   |   | Fourth |   |
| Dividends per common share (a) |   | $      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Market price per common share: |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| High                           |   | $      | 1.55   |   |   | $ | 0.48 |   |   | $ | 1.14 |   |   | $ | 1.48 |   |
| Low                            |   | $      | 0.03   |   |   | $ | 0.04 |   |   | $ | 0.02 |   |   | $ | 0.47 |   |

|   | (a) | On October 30, 2008, we suspended the payment of dividends. |
|--------|-----|-------------------------------------------------------------|

----

----

| (In millions of dollars, except per share data) |   | 2010   |   |   | 2009   |   |   | 2008   |   |   | 2007   |   |   | 2006   |   |
|------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Summary of Operations                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net sales                                                                          |   | $      | 2,760  |   |   | $      | 2,300  |   |   | $      | 3,154  |   |   | $      | 3,370  |   |   | $ | 3,182 |   |
| Gross profit                                                                       |   |   | 657    |   |   |   | 579    |   |   |   | 717    |   |   |   | 819    |   |   |   | 787 |   |
| Selling, general and administrative                                                |   |   | 315    |   |   |   | 289    |   |   |   | 323    |   |   |   | 362    |   |   |   | 355 |   |
| Depreciation and amortization                                                      |   |   | 175    |   |   |   | 162    |   |   |   | 221    |   |   |   | 254    |   |   |   | 191 |   |
| Research and development                                                           |   |   | 42     |   |   |   | 35     |   |   |   | 46     |   |   |   | 57     |   |   |   | 57 |   |
| Facility closures, severance and related costs                                     |   |   | 1      |   |   |   | 3      |   |   |   | 23     |   |   |   | 34     |   |   |   | 5 |   |
| Antitrust costs                                                                    |   |   | -      |   |   |   | 10     |   |   |   | 12     |   |   |   | 35     |   |   |   | 90 |   |
| Merger costs (a)                                                                   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | 17 |   |
| (Gain) loss on sale of business (b)                                                |   |   | (2     | )      |   |   | -      |   |   |   | 25     |   |   |   | 15     |   |   |   | 11 |   |
| Impairment charges (c)                                                             |   |   | 57     |   |   |   | 39     |   |   |   | 986    |   |   |   | 19     |   |   |   | 80 |   |
| Changes in estimates related to expected allowable claims (d)                      |   |   | 35     |   |   |   | 73     |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Equity income                                                                      |   |   | (4     | )      |   |   | -      |   |   |   | (4     | )      |   |   | (3     | ) |   |   | (4 | ) |
| Operating profit (loss)                                                            |   |   | 38     |   |   |   | (32    | )      |   |   | (915   | )      |   |   | 46     |   |   |   | (15 | ) |
| Interest expense (e)                                                               |   |   | (191   | )      |   |   | (70    | )      |   |   | (78    | )      |   |   | (87    | ) |   |   | (102 | ) |
| Loss on early extinguishment of debt                                               |   |   | (88    | )      |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | (44 | ) |
| Other (expense) income, net                                                        |   |   | (6     | )      |   |   | (17    | )      |   |   | 9      |   |   |   | (5     | ) |   |   | (5 | ) |
| Reorganization items, net (f)                                                      |   |   | (303   | )      |   |   | (97    | )      |   |   | -      |   |   |   | -      |   |   |   | - |   |
|                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations before                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    income taxes                                                          |   |   | (550   | )      |   |   | (216   | )      |   |   | (984   | )      |   |   | (46    | ) |   |   | (166 | ) |
| Income tax (provision) benefit                                                     |   |   | (22    | )      |   |   | (10    | )      |   |   | 29     |   |   |   | -      |   |   |   | (119 | ) |
| Loss from continuing operations                                                    |   |   | (572   | )      |   |   | (226   | )      |   |   | (955   | )      |   |   | (46    | ) |   |   | (285 | ) |
| (Loss) earnings from discontinued operations, net of tax                           |   |   | (1     | )      |   |   | (63    | )      |   |   | (16    | )      |   |   | 27     |   |   |   | 33 |   |
| (Loss) gain on sale of discontinued operations, net of tax                         |   |   | (12    | )      |   |   | (3     | )      |   |   | -      |   |   |   | 24     |   |   |   | 47 |   |
| Net (loss) earnings                                                                |   |   | (585   | )      |   |   | (292   | )      |   |   | (971   | )      |   |   | 5      |   |   |   | (205 | ) |
| Less: net earnings attributable to non-controlling interests                       |   |   | (1     | )      |   |   | (1     | )      |   |   | (2     | )      |   |   | (8     | ) |   |   | (1 | ) |
| Net loss attributable to Chemtura Corporation                                      |   | $      | (586   | )      |   | $      | (293   | )      |   | $      | (973   | )      |   | $      | (3     | ) |   | $ | (206 | ) |
|                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Amounts attribuable to Chemtura Corporation common stockholders:                   |   |
| Loss from continuing operations, net of tax                                        |   | $      | (573   | )      |   | $      | (227   | )      |   | $      | (957   | )      |   | $      | (54    | ) |   | $ | (286 | ) |
| (Loss) earnings from discontinued operations, net of tax                           |   |   | (1     | )      |   |   | (63    | )      |   |   | (16    | )      |   |   | 27     |   |   |   | 33 |   |
| (Loss) gain on sale of discontinued operations, net of tax                         |   |   | (12    | )      |   |   | (3     | )      |   |   | -      |   |   |   | 24     |   |   |   | 47 |   |
| Net loss attributable to Chemtura Corporation                                      |   | $      | (586   | )      |   | $      | (293   | )      |   | $      | (973   | )      |   | $      | (3     | ) |   | $ | (206 | ) |

----

| (In millions, except per share data)                                                                                                                                                          |   | 2010   |   |   | 2009   |   |   | 2008   |   |   | 2007   |   |   | 2006   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Per Share Statistics                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations, net of tax                                                                                                                                                   |   | $      | (2.58  | )      |   | $      | (0.93  | )      |   | $      | (3.94  | )      |   | $      | (0.22  | ) |   | $ | (1.19 | ) |
| (Loss) earnings from discontinued operations, net of tax                                                                                                                                      |   |   | -      |   |   |   | (0.26  | )      |   |   | (0.07  | )      |   |   | 0.11   |   |   |   | 0.14 |   |
| (Loss) gain on sale of discontinued operations, net of tax                                                                                                                                    |   |   | (0.05  | )      |   |   | (0.01  | )      |   |   | -      |   |   |   | 0.10   |   |   |   | 0.20 |   |
| Net loss attributable to Chemtura Corporation                                                                                                                                                 |   | $      | (2.63  | )      |   | $      | (1.20  | )      |   | $      | (4.01  | )      |   | $      | (0.01  | ) |   | $ | (0.85 | ) |
| Dividends                                                                                                                                                                                     |   | $      | -      |   |   | $      | -      |   |   | $      | 0.15   |   |   | $      | 0.20   |   |   | $ | 0.20 |   |
| Book value                                                                                                                                                                                    |   | $      | 10.16  |   |   | $      | 0.71   |   |   | $      | 2.01   |   |   | $      | 7.84   |   |   | $ | 7.14 |   |
| Common stock trading range:    High (g)                                                                                                                                             |   | $      | 16.10  |   |   | $      | 1.55   |   |   | $      | 8.81   |   |   | $      | 12.33  |   |   | $ | 13.53 |   |
|                                                     Low (g) |   | $      | 0.28   |   |   | $      | 0.02   |   |   | $      | 1.02   |   |   | $      | 6.95   |   |   | $ | 7.75 |   |
| Average shares outstanding - Basic and Diluted (g)                                                                                                                                            |   |   | 223.0  |   |   |   | 242.9  |   |   |   | 242.3  |   |   |   | 241.6  |   |   |   | 240.5 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Financial Position                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Working capital (deficiency) (h)                                                                                                                                                              |   | $      | 932    |   |   | $      | 881    |   |   | $      | (558   | )      |   | $      | 700    |   |   | $ | 497 |   |
| Current ratio (h)                                                                                                                                                                             |   |   | 2.9    |   |   |   | 2.5    |   |   |   | 0.7    |   |   |   | 2.0    |   |   |   | 1.6 |   |
| Total assets                                                                                                                                                                                  |   | $      | 2,913  |   |   | $      | 3,118  |   |   | $      | 3,057  |   |   | $      | 4,416  |   |   | $ | 4,399 |   |
| Total debt, including short-term borrowings (h)                                                                                                                                               |   | $      | 751    |   |   | $      | 255    |   |   | $      | 1,204  |   |   | $      | 1,063  |   |   | $ | 1,111 |   |
| Stockholders' equity                                                                                                                                                                          |   | $      | 971    |   |   | $      | 172    |   |   | $      | 488    |   |   | $      | 1,899  |   |   | $ | 1,719 |   |
| Total capital employed (h)                                                                                                                                                                    |   | $      | 1,722  |   |   | $      | 427    |   |   | $      | 1,692  |   |   | $      | 2,962  |   |   | $ | 2,830 |   |
| Debt to total capital % (h)                                                                                                                                                                   |   |   | 43.6   |   |   |   | 59.7   |   |   |   | 71.2   |   |   |   | 35.9   |   |   |   | 39.3 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In millions of dollars, except for number of employees)                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Statistics                                                                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by (used in) operations (i)                                                                                                                                                 |   | $      | (204   | )      |   | $      | 49     |   |   | $      | (11    | )      |   | $      | 149    |   |   | $ | 251 |   |
| Capital spending from continuing operations                                                                                                                                                   |   | $      | 124    |   |   | $      | 53     |   |   | $      | 116    |   |   | $      | 107    |   |   | $ | 114 |   |
| Depreciation from continuing operations                                                                                                                                                       |   | $      | 138    |   |   | $      | 124    |   |   | $      | 177    |   |   | $      | 216    |   |   | $ | 152 |   |
| Amortization from continuing operations                                                                                                                                                       |   | $      | 37     |   |   | $      | 38     |   |   | $      | 44     |   |   | $      | 38     |   |   | $ | 39 |   |
| Approximate number of employees at end of year                                                                                                                                                |   |   | 4,200  |   |   |   | 4,400  |   |   |   | 4,700  |   |   |   | 5,100  |   |   |   | 6,200 |   |

| (a) | Merger costs are non-capitalized costs associated with our merger with Great Lakes. |
|-----|-------------------------------------------------------------------------------------|

| (b) | (Gain) loss on sale of business primarily included a $2 million gain relating to the sale of the natural sodium sulfonates and oxidized petrolatum product lines in 2010, a $26 million loss relating to the sale of the oleochemicals business in 2008, a $15 million loss on the sale of assets relating to the sale of the Celogen® product line in 2007 and a $12 million loss on the sale of the IWA business in 2006. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The 2010 charge included the impairment of goodwill of $57 million within the Chemtura AgroSolutionsTM segment.  The 2009 charge included the impairment of goodwill of $37 million and the impairment of intangible assets of $2 million within the Consumer Products segment. The 2008 charge primarily included a $985 million impairment of goodwill associated with the Consumer Products, Industrial Performance Products and Industrial Engineered Products segments.  The 2007 charge primarily included a $9 million reduction in the value of assets relating to the closure and sale of the Ravenna, Italy facility and a $4 million write-off of construction in progress associated with certain facilities affected by the 2007 restructuring programs.  The 2006 charge primarily included a $52 million impairment ofthe fluorine business as a result of our annual impairment review and a $22 million impairment of non-current assets of the fluorine business due to a loss of a significant customer. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | Changes in estimates related to expected allowable claims of $35 million and $73 million for 2010 and 2009, respectively, relate to adjustments to liabilities subject to compromise (primarily legal and environmental reserves) as a result of our Chapter 11 proofs of claim evaluation process. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | Interest expense in 2010 includes $137 million of contractual interest expense recorded, relating to interest obligations on unsecured claims for the period from March 18, 2009 through the Effective Date that were paid based on the Plan (included in this amount is contractual interest expense of $63 million for 2009). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | Reorganization items, net of $303 million and $97 million for 2010 and 2009, respectively, represent professional fees; the write-off of debt discounts, premiums and debt issuance costs; the write-off of deferred financing expenses related to the termination of the U.S. accounts receivable facility; impacts from rejections or terminations of executory contracts and real property leases; impacts from the settlement of claims; and charges for reorganization initiatives. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | Upon the effectiveness of our Plan all previously outstanding shares of common stock were cancelled and pursuant to the Plan approximately 96 million shares of New Common Stock were issued.  The weighted average shares for 2010 was based upon 243 million of old shares outstanding for approximately 10 months and approximately 100 million of new shares outstanding for approximately 2 months.  As a result, the average shares outstanding and price of our New Common Stock may not be comparable to prior periods. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h) | The 2009 amounts exclude liabilities subject to compromise which are included separately on the balance sheet. |
|-----|----------------------------------------------------------------------------------------------------------------|

| (i) | The 2010 net cash used in operations included $195 million related to cash settlements of claims in connection with the Chapter 11 cases and $50 million of pension contributions in accordance with the Plan. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|   | · | Significantly reduced indebtedness with improved liquidity. As of December 31, 2010, we had $751 million of total consolidated indebtedness, $201 million of cash and cash equivalents and approximately $275 million of lending commitments under our new five-year senior secured revolving credit facility (the “ABL Facility”) with Bank of America, N.A., as administrative agent and the other lenders party thereto which permit us to enter into a foreign asset-based financing arrangement.  The $275 million of lending commitments was un-drawn other than to support the issuance of $12 million in letter of credit obligations.  For comparison, as of December 31, 2009, we had over $1.4 billion of total consolidated indebtedness. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Improved cost structure. We have significantly improved our cost structure over the past three years and substantially reduced our cash fixed costs compared to prior years.  From December 31, 2007 through the end of 2010, we reduced our workforce by approximately 900 employees, including the transfer of employees as part of the sale of the PVC additives business and a reduction of over 400 professional and administrative positions.  Since the end of 2007, we have significantly reduced our underperforming assets by closing or selling 6 plants and moving to third-party warehousing in a number of our businesses.  These actions have reduced fixed costs or made them variable.  We will continue to manage our costs and improve the efficiency of our operations in 2011 and beyond. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reduced environmental and other liabilities. We discharged a significant amount of our U.S. environmental and tort liabilities exposures in our Chapter 11 proceedings. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | With our strategy of driving growth through innovation, our segments invested in the development of technology, new products and product certifications and registrations.  Within our Industrial Performance Products segment, we are in the process of obtaining food grade certifications for our Weston® 705 products so that they may be used in food packaging film applications and continued to expand the applications for our new Duracast® castable elastomers.  In our Industrial Engineered Products segment, we launched new flame retardant products under the Emerald® brand, continued to find new customers for our GeobromTM products (used to remove mercury from emissions of coal-fired power plants) and identified exciting new applications for an organometallic product in the production of LED lighting.  Our Chemtura AgroSolutionsTM segment saw sales of its new Rancona® product grow rapidly in its first full year of commercial sales and an existing product proved effective in combating the grasshopper infestation in certain parts of the United States.  Our Consumer Products segment introduced new innovative packaging forms that aid customer use of its products and improve store management for our retailers; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The strategic focus on driving growth in revenues from higher growth regions in the world saw sales in the Asia Pacific region increase from approximately 15% of net sales in 2009 to approximately 19% in 2010 – a 52% increase in net sales in this region; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our Industrial Engineered Products segment is driving significant improvements in operating efficiency and cost control with the benefit of its new sourcing agreement permitting the rationalization of older, lower yielding brine wells and the reconfiguration of its manufacturing assets; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our Consumer Products segment saw a record year for operating earnings with the benefit of exceptionally good weather during the 2010 pool season and the benefit of operating cost reductions during the last two years.  The favorable business conditions in 2010 provide a challenge to repeat the same performance in 2011; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We continued to invest in our regional operations, opening a new development center in Nanjing, China and establishing  a shared service center in Trafford Park, England; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Despite the Chapter 11 proceedings, we were successful in attracting new managers and new employees at all levels of our organization to help spearhead the implementation of our business strategies and strengthen our performance culture; and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We continue our systems development initiatives which have brought us benefits such as our enterprise resource planning (“ERP”) initiatives that have enabled the activities related to over 90 percent of net sales now being managed on a single global instance of SAP and offering simplified and standardized business processes. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

----

----

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| Favorable (unfavorable)                             |   |   |   |   |   |   |   |   |   |
|-----------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| (In millions)                                       |   | 2010   |   |   | 2009   |   |   | 2008   |   |
| Accounts receivable                                 |   | $      | (77    | )      |   | $      | 36     |   |   | $ | 89 |   |
| Impact of accounts receivable facilities            |   |   | -      |   |   |   | (103   | )      |   |   | (136 | ) |
| Inventories                                         |   |   | (36    | )      |   |   | 85     |   |   |   | (12 | ) |
| Restricted cash                                     |   |   | (38    | )      |   |   | -      |   |   |   | - |   |
| Accounts payable                                    |   |   | 70     |   |   |   | 16     |   |   |   | (25 | ) |
| Pension and post-retirement health care liabilities |   |   | (61    | )      |   |   | (26    | )      |   |   | (46 | ) |
| Liabilities subject to compromise                   |   |   | (195   | )      |   |   | (31    | )      |   |   | - |   |

----

----

| (In millions)                      |   |   | Payments Due by Period |   |
|-----------------------------------------|--------|--------|---------------------------------------|--------|
|                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2016 and |   |
| Contractual Obligations*           |   |   | Total                                 |   |   | 2011 |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |   | Thereafter |   |
| Total debt (including capital leases)   | (a)    |   | $                                     | 754    |   |   | $ | 3 |   |   | $ | - |   |   | $ | - |   |   | $ | 1 |   |   | $ | - |   |   | $ | 750 |   |
| Operating leases                        | (b)    |   |                                  | 72     |   |   |   | 13 |   |   |   | 10 |   |   |   | 8 |   |   |   | 7 |   |   |   | 6 |   |   |   | 28 |   |
| Facility closures, severance            |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and related cost liabilities            | (c)    |   |                                  | 1      |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Capital expenditures                    | (d)    |   |                                  | 24     |   |   |   | 24 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Interest payments                       | (e)    |   |                                  | 387    |   |   |   | 54 |   |   |   | 54 |   |   |   | 54 |   |   |   | 54 |   |   |   | 54 |   |   |   | 117 |   |
| Unconditional purchase obligations      | (f)    |   |                                  | 7      |   |   |   | 2 |   |   |   | 2 |   |   |   | 1 |   |   |   | 1 |   |   |   | 1 |   |   |   | - |   |
| Subtotal - Contractual Obligations      |   |   |                                  | 1,245  |   |   |   | 97 |   |   |   | 66 |   |   |   | 63 |   |   |   | 63 |   |   |   | 61 |   |   |   | 895 |   |
| Environmental liabilities               | (g)    |   |                                  | 96     |   |   |   | 18 |   |   |   | 16 |   |   |   | 13 |   |   |   | 13 |   |   |   | 7 |   |   |   | 29 |   |
| Post-retirement health care liabilities | (h)    |   |                                  | 104    |   |   |   | 11 |   |   |   | 10 |   |   |   | 9 |   |   |   | 9 |   |   |   | 8 |   |   |   | 57 |   |
| Unrecognized tax benefits               | (i)    |   |                                  | 65     |   |   |   | 14 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | 50 |   |   |   | - |   |
| Other long-term liabilities             |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (excluding pension liabilities)         |   |   |                                  | 25     |   |   |   | 1 |   |   |   | 3 |   |   |   | 1 |   |   |   | 2 |   |   |   | 4 |   |   |   | 14 |   |
| Total cash requirements                 |   |   | $                                     | 1,535  |   |   | $ | 141 |   |   | $ | 96 |   |   | $ | 86 |   |   | $ | 87 |   |   | $ | 130 |   |   | $ | 995 |   |

| (a) | Our debt agreements include various notes and bank loans for which payments will be payable through 2018.  The future minimum lease payments under capital leases at December 31, 2010 were not significant.  Obligations by period reflect stated contractual due dates. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | Represents operating lease obligations primarily related to buildings, land and equipment.  Such obligations are net of future sublease income and will be expensed over the life of the applicable lease contracts. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Represents estimated payments from accruals related to our cost reduction programs. |
|-----|-------------------------------------------------------------------------------------|

| (d) | Represents capital commitments for various open projects. |
|-----|-----------------------------------------------------------|

| (e) | Represents interest payments and fees related to our Senior Notes, Term Loan, ABL Facility and other debt obligations outstanding at December 31, 2010. Assumed interest rates are based upon rates in effect at December 31, 2010. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | Primarily represents unconditional purchase commitments to purchase raw materials and tolling arrangements with outside vendors. |
|-----|----------------------------------------------------------------------------------------------------------------------------------|

----

| (g) | We have ongoing environmental liabilities for future remediation and operating and maintenance costs directly related to remediation.  We estimate that the ongoing environmental liability could range up to $114 million.  We have recorded a liability for ongoing environmental remediation of $92 million at December 31, 2010, which excludes $27 million of reserves related to disputed claims not yet allowed in the Chapter 11 cases. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h) | We have post-retirement health care plans that provide health and life insurance benefits to certain retired and active employees and their beneficiaries.  These plans are generally not pre-funded and expenses are paid by us as incurred, with the exception of certain inactive government related plans that are paid from plan assets. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i) | We have recorded a liability for unrecognized tax benefits of $65 million at December 31, 2010 which do not reflect competent authority offsets of $24 million, which are reflected as assets in our balance of unrecognized tax benefits. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                          |   | Funding Requirements by Period |   |
|-----------------------------------------------|--------|-----------------------------------------------|--------|
| (In millions)                            |   | 2011                                          |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |
| Qualified domestic pension plans              |   | $                                             | 18     |   |   | $ | 41 |   |   | $ | 38 |   |   | $ | 33 |   |   | $ | 29 |   |
| International and non-qualified pension plans |   |                                          | 15     |   |   |   | 16 |   |   |   | 16 |   |   |   | 17 |   |   |   | 15 |   |
|     Total pension plans             |   | $                                             | 33     |   |   | $ | 57 |   |   | $ | 54 |   |   | $ | 50 |   |   | $ | 44 |   |

----

|   | · | We plan to expand capacity at Gulf Stabilizer Industries, our joint venture facility in Al Jubail, Saudi Arabia and advance towards a new joint venture in Saudi Arabia involving our German subsidiary, Chemtura Organometallics GmbH to build a world-scale metal alkyls manufacturing facility in Jubail Industrial City, Saudi Arabia; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We announced a strategic research and development alliance with Isagro S.p.A. which will give access to two already commercialized products and accelerate the development and commercialization of new active ingredients and molecules related to our Chemtura AgroSolutionsTM segment; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We announced the formation of Day Star Materials, LLC, a joint venture with UP Chemical Co. Lta. that will manufacture and sell high purity metal organic precursors for the rapidly growing LED market.  The joint venture will begin supplying high parity metal organic precursors in the second quarter of 2011; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We have also brought to market new and innovative product offerings (See Management’s Discussion and Analysis: Executive Overview). |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

----

| RESULTS OF OPERATIONS                                            |   |   |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| (In millions, except per share data)              |   |   |   |   |   |   |   |   |   |
|                                                                       |   | 2010   |   |   | 2009   |   |   | 2008   |   |
| Net Sales                                                                  |   |   |   |   |   |   |   |   |   |
|   Consumer Products                                                   |   | $      | 458    |   |   | $      | 457    |   |   | $ | 516 |   |
|   Industrial Performance Products                                     |   |   | 1,223  |   |   |   | 999    |   |   |   | 1,465 |   |
|   Chemtura AgroSolutionsTM                                       |   |   | 351    |   |   |   | 332    |   |   |   | 394 |   |
|   Industrial Engineered Products                                      |   |   | 728    |   |   |   | 512    |   |   |   | 779 |   |
| Net Sales                                                                  |   | $      | 2,760  |   |   | $      | 2,300  |   |   | $ | 3,154 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating Profit (Loss)                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|   Consumer Products                                                   |   | $      | 67     |   |   | $      | 63     |   |   | $ | 50 |   |
|   Industrial Performance Products                                     |   |   | 119    |   |   |   | 91     |   |   |   | 105 |   |
|   Chemtura AgroSolutionsTM                                       |   |   | 21     |   |   |   | 42     |   |   |   | 78 |   |
|   Industrial Engineered Products                                      |   |   | 25     |   |   |   | 3      |   |   |   | 43 |   |
| Segment Operating Profit                                                   |   |   | 232    |   |   |   | 199    |   |   |   | 276 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| General corporate expense including amortization                           |   |   | (102   | )      |   |   | (106   | )      |   |   | (113 | ) |
| Change in useful life of property, plant and equipment                     |   |   | (1     | )      |   |   | -      |   |   |   | (32 | ) |
| Facility closures, severance and related costs                             |   |   | (1     | )      |   |   | (3     | )      |   |   | (23 | ) |
| Antitrust costs                                                            |   |   | -      |   |   |   | (10    | )      |   |   | (12 | ) |
| Gain (loss) on sale of businesses                                          |   |   | 2      |   |   |   | -      |   |   |   | (25 | ) |
| Impairment charges                                                         |   |   | (57    | )      |   |   | (39    | )      |   |   | (986 | ) |
| Changes in estimates related to expected allowable claims                  |   |   | (35    | )      |   |   | (73    | )      |   |   | - |   |
| Total Operating Profit (Loss)                                              |   |   | 38     |   |   |   | (32    | )      |   |   | (915 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                           |   |   | (191   | )      |   |   | (70    | )      |   |   | (78 | ) |
| Loss on early extinguishment of debt                                       |   |   | (88    | )      |   |   | -      |   |   |   | - |   |
| Other (expense) income, net                                                |   |   | (6     | )      |   |   | (17    | )      |   |   | 9 |   |
| Reorganization items, net                                                  |   |   | (303   | )      |   |   | (97    | )      |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations before income taxes                        |   |   | (550   | )      |   |   | (216   | )      |   |   | (984 | ) |
| Income tax (provision) benefit                                             |   |   | (22    | )      |   |   | (10    | )      |   |   | 29 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations                                            |   |   | (572   | )      |   |   | (226   | )      |   |   | (955 | ) |
| Loss from discontinued operations, net of tax                              |   |   | (1     | )      |   |   | (63    | )      |   |   | (16 | ) |
| Loss on sale of discontinued operations, net of tax                        |   |   | (12    | )      |   |   | (3     | )      |   |   | - |   |
| Net loss                                                                   |   |   | (585   | )      |   |   | (292   | )      |   |   | (971 | ) |
| Less: net earnings attributable to non-controlling interests               |   |   | (1     | )      |   |   | (1     | )      |   |   | (2 | ) |
| Net loss attributable to Chemtura Corporation                              |   | $      | (586   | )      |   | $      | (293   | )      |   | $ | (973 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS PER SHARE - BASIC AND DILUTED - ATTRIBUTABLE TO CHEMTURA CORPORATION: |   |
| Loss from continuing operations                                            |   | $      | (2.58  | )      |   | $      | (0.93  | )      |   | $ | (3.94 | ) |
| Loss from discontinued operations                                          |   |   | -      |   |   |   | (0.26  | )      |   |   | (0.07 | ) |
| Loss on sale of discontinued operations                                    |   |   | (0.05  | )      |   |   | (0.01  | )      |   |   | - |   |
| Net loss attributable to Chemtura Corporation                              |   | $      | (2.63  | )      |   | $      | (1.20  | )      |   | $ | (4.01 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted weighted-average shares outstanding                      |   |   | 223.0  |   |   |   | 242.9  |   |   |   | 242.3 |   |

----

----

----

----

----

----

----

----

----

----

|   | · | Under an agreement entered into with the Pension Benefit Guaranty Corporation, we made a voluntary contribution of $50 million to the domestic pension plans on November 10, 2010 in order to reduce future funding requirements. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Benefits under our domestic non-qualified pension arrangements were reinstated and amounts which were suspended during the bankruptcy were paid out with interest to affected participants in the fourth quarter of 2010. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The caps on the level of postretirement medical benefits payable to certain retirees in the U.S. were reduced. |
|--------|--------|----------------------------------------------------------------------------------------------------------------|

----

----

|                                          |   | Pension Expense (Income) By Period |   |
|-----------------------------------------------|--------|--------------------------------------------------------|--------|
| (In millions)                            |   | 2011                                                   |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |
| Qualified domestic pension plans              |   | $                                                      | 2      |   |   | $ | 3 |   |   | $ | 2 |   |   | $ | (2 | ) |   | $ | (6 | ) |
| International and non-qualified pension plans |   |                                                   | 10     |   |   |   | 10 |   |   |   | 10 |   |   |   | 9 |   |   |   | 8 |   |
| Total pension plans                           |   | $                                                      | 12     |   |   | $ | 13 |   |   | $ | 12 |   |   | $ | 7 |   |   | $ | 2 |   |

|                                          |   | Change in Pension Expense (Income) By Period   |   |
|-----------------------------------------------|--------|------------------------------------------------------------------------------|--------|
|                                          |   | 2011                                                                         |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |
| Increase (decrease)                      |   | 100 Basis Point Increase in Investment Returns |   |
| Qualified domestic pension plans              |   | $                                                                            | -      |   |   | $ | - |   |   | $ | (1 | ) |   | $ | (1 | ) |   | $ | (2 | ) |
| International and non-qualified pension plans |   |                                                                         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total pension plans                           |   | $                                                                            | -      |   |   | $ | - |   |   | $ | (1 | ) |   | $ | (1 | ) |   | $ | (2 | ) |

| Increase (decrease)                      |   | 100 Basis Point Decrease in Investment Returns |   |
|-----------------------------------------------|--------|------------------------------------------------------------------------------|--------|
| Qualified domestic pension plans              |   | $                                                                            | -      |   |   | $ | - |   |   | $ | 1 |   |   | $ | 1 |   |   | $ | 2 |   |
| International and non-qualified pension plans |   |                                                                         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total pension plans                           |   | $                                                                            | -      |   |   | $ | - |   |   | $ | 1 |   |   | $ | 1 |   |   | $ | 2 |   |

----

| (In millions)                                       |   | Pre-Tax Expense by Period |   |
|----------------------------------------------------------|--------|------------------------------------------|--------|
|                                                     |   | 2011                                     |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |
| Domestic and international post-retirement benefit plans |   | $                                        | 2      |   |   | $ | 1 |   |   | $ | 1 |   |   | $ | 1 |   |   | $ | 1 |   |

----

|   | · | New product introductions. These include new organometallics applications in photovoltaics applications and LED lighting; the introduction of Emerald® range of flame retardant products; and the certification of the use of WestonTM705 liquid antioxidant platform in food packaging films; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | New manufacturing capacity. These include expansions in synthetic base stocks and greases used in transportation and other lubrication applications, capacity for the Emerald range of products and DEZ and TMA capacity for our organometallic products; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Raw material cost inflation. We must achieve the timely recovery of input cost increases through higher selling prices; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | Reduced costs. Obtaining the operating efficiencies from our transformation project at our El Dorado, South Arkansas facility; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Agricultural recovery. Realizing the benefit of improving conditions in the agricultural markets we serve. |
|--------|--------|------------------------------------------------------------------------------------------------------------|

----

| (In millions)                                                        |   | 2010   |   |
|----------------------------------------------------------------------|--------|--------|--------|
|                                                                 |   |   |   |
| Operating profit                                                     |   | $      | 38     |   |
|                                                                 |   |   |   |   |
| Plus: Depreciation and amortization                                  |   |   | 175    |   |
| Plus: Operational facility closures, severance and related costs     |   |   | 1      |   |
| Less: Gain on sale of business                                       |   |   | (2     | ) |
| Plus: Impairment charges                                             |   |   | 57     |   |
| Plus: Changes in estimates related to expected allowable claims      |   |   | 35     |   |
| Plus: Non-cash stock-based compensation for post-confirmation awards |   |   | 8      |   |
| Plus: Loss on disposal of assets                                     |   |   | 2      |   |
| Plus: Other non-recurring adjustments                                |   |   | 6      |   |
| Adjusted EBITDA                                                      |   | $      | 320    |   |

----

|   | · | The cyclical nature of the global chemicals industry; |
|--------|--------|-------------------------------------------------------|

|   | · | Increases in the price of raw materials or energy and our ability to recover cost increases through increased selling prices for our products; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Disruptions in the availability of raw materials or energy; |
|--------|--------|-------------------------------------------------------------|

|   | · | Declines in general economic conditions; |
|--------|--------|------------------------------------------|

|   | · | The effects of competition; |
|--------|--------|-----------------------------|

|   | · | The ability to comply with product registration requirements under European Union REACh legislation; |
|--------|--------|------------------------------------------------------------------------------------------------------|

|   | · | The effect of adverse weather conditions; |
|--------|--------|-------------------------------------------|

|   | · | The ability to grow profitability in our Chemtura AgroSolutionsTM segment; |
|--------|--------|---------------------------------------------------------------------------------|

|   | · | Demand for Chemtura AgroSolutionsTM segment products being affected by governmental policies; |
|--------|--------|----------------------------------------------------------------------------------------------------|

|   | · | The ability to implement the El Dorado, Arkansas restructuring program; |
|--------|--------|-------------------------------------------------------------------------|

|   | · | Current and future litigation, governmental investigations, prosecutions and administrative claims; |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | Environmental, health and safety regulation matters; |
|--------|--------|------------------------------------------------------|

|   | · | Federal regulations aimed at increasing security at certain chemical production plants; |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | · | Significant international operations and interests; |
|--------|--------|-----------------------------------------------------|

|   | · | Our ability to maintain adequate internal controls over financial reporting; |
|--------|--------|------------------------------------------------------------------------------|

|   | · | Exchange rate and other currency risks; |
|--------|--------|-----------------------------------------|

|   | · | Our dependence upon a trained, dedicated sales force; |
|--------|--------|-------------------------------------------------------|

|   | · | Operating risks at our production facilities; |
|--------|--------|-----------------------------------------------|

|   | · | Our ability to protect our patents or other intellectual property rights; |
|--------|--------|---------------------------------------------------------------------------|

|   | · | Whether our patents may not provide full protection against competing manufacturers; |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | Our ability to remain technologically innovative and to offer improved products and services in a cost-effective manner; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------|

|   | · | The risks to our joint venture investments resulting from lack of sole decision making authority; |
|--------|--------|---------------------------------------------------------------------------------------------------|

|   | · | Our unfunded and underfunded defined benefit pension plans and post-retirement welfare benefit plans; |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | Whether we are required to fund the pension plan of our U.K. subsidiary; |
|--------|--------|--------------------------------------------------------------------------|

|   | · | Risks associated with possible climate change legislation, regulation and international accords; |
|--------|--------|--------------------------------------------------------------------------------------------------|

|   | · | The ability to support the carrying value of the goodwill and long-lived assets related to our businesses; and |
|--------|--------|----------------------------------------------------------------------------------------------------------------|

|   | · | Other risks and uncertainties detailed in Item 1A. Risk Factors in our filings with the Securities and Exchange Commission. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|

----

|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2016 and |   |   |   |   |   | Fair Value  |   |
|---------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|---------------|--------|--------|--------|--------|--------|------------------|--------|
| (In millions)        |   | 2011   |   |   | 2012   |   |   | 2013   |   |   | 2014   |   |   | 2015   |   |   | Thereafter    |   |   | Total  |   |   | at 12/31/10 |   |
| Total debt:               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |          |   |   |   |   |   |             |   |
| Fixed rate debt           |   | $      | -      |   |   | $      | -      |   |   | $      | -      |   |   | $      | -      |   |          | $      | -      |   |   | $      | 455              |   |   | $ | 455 |   |   | $ | 485 |   |
| Average interest rate     |   |   | 7.88   | %      |   |   | 7.88   | %      |   |   | 7.88   | %      |   |   | 7.88   | %      |          |   | 7.88   | %      |   |   | 7.88             | %      |   |   |   |   |   |   |   |   |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |          |   |   |   |   |   |             |   |   |   |   |   |   |   |   |   |
| Variable rate debt        |   | $      | 3      |   |   | $      | -      |   |   | $      | -      |   |   | $      | 1      |   |          | $      | -      |   |   | $      | 295              |   |   | $ | 299 |   |   | $ | 299 |   |
| Average interest rate (a) |   |   | 5.50   | %      |   |   | 5.49   | %      |   |   | 5.49   | %      |   |   | 5.50   | %      |          |   | 5.50   | %      |   |   | 5.50             | %      |   |   |   |   |   |   |   |   |

----

|                                                                                           |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                           |   |   |   |   |   |   |   |   |   |
| NET SALES                                                                                      |   | $      | 2,760  |   |   | $      | 2,300  |   |   | $ | 3,154 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| COSTS AND EXPENSES                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of goods sold                                                                             |   |   | 2,103  |   |   |   | 1,721  |   |   |   | 2,437 |   |
| Selling, general and administrative                                                            |   |   | 315    |   |   |   | 289    |   |   |   | 323 |   |
| Depreciation and amortization                                                                  |   |   | 175    |   |   |   | 162    |   |   |   | 221 |   |
| Research and development                                                                       |   |   | 42     |   |   |   | 35     |   |   |   | 46 |   |
| Facility closures, severance and related costs                                                 |   |   | 1      |   |   |   | 3      |   |   |   | 23 |   |
| Antitrust costs                                                                                |   |   | -      |   |   |   | 10     |   |   |   | 12 |   |
| (Gain) loss on sale of business                                                                |   |   | (2     | )      |   |   | -      |   |   |   | 25 |   |
| Impairment charges                                                                             |   |   | 57     |   |   |   | 39     |   |   |   | 986 |   |
| Changes in estimates related to expected allowable claims                                      |   |   | 35     |   |   |   | 73     |   |   |   | - |   |
| Equity income                                                                                  |   |   | (4     | )      |   |   | -      |   |   |   | (4 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING PROFIT (LOSS)                                                                        |   |   | 38     |   |   |   | (32    | )      |   |   | (915 | ) |
| Interest expense (a)                                                                           |   |   | (191   | )      |   |   | (70    | )      |   |   | (78 | ) |
| Loss on early extinguishment of debt                                                           |   |   | (88    | )      |   |   | -      |   |   |   | - |   |
| Other (expense) income, net                                                                    |   |   | (6     | )      |   |   | (17    | )      |   |   | 9 |   |
| Reorganization items, net                                                                      |   |   | (303   | )      |   |   | (97    | )      |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations before                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| income taxes                                                                                   |   |   | (550   | )      |   |   | (216   | )      |   |   | (984 | ) |
| Income tax (provision) benefit                                                                 |   |   | (22    | )      |   |   | (10    | )      |   |   | 29 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from continuing operations                                                                |   |   | (572   | )      |   |   | (226   | )      |   |   | (955 | ) |
| Loss from discontinued operations, net of tax                                                  |   |   | (1     | )      |   |   | (63    | )      |   |   | (16 | ) |
| Loss on sale of discontinued operations, net of tax                                            |   |   | (12    | )      |   |   | (3     | )      |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                       |   |   | (585   | )      |   |   | (292   | )      |   |   | (971 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: net earnings attributable to non-controlling interests                                   |   |   | (1     | )      |   |   | (1     | )      |   |   | (2 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to Chemtura Corporation                                                  |   | $      | (586   | )      |   | $      | (293   | )      |   | $ | (973 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC AND DILUTED PER SHARE INFORMATION - ATTRIBUTABLE TO CHEMTURA CORPORATION: |   |
| Loss from continuing operations, net of tax                                                    |   | $      | (2.58  | )      |   | $      | (0.93  | )      |   | $ | (3.94 | ) |
| Loss from discontinued operations, net of tax                                                  |   |   | -      |   |   |   | (0.26  | )      |   |   | (0.07 | ) |
| Loss on sale of discontinued operations, net of tax                                            |   |   | (0.05  | )      |   |   | (0.01  | )      |   |   | - |   |
| Net loss attributable to Chemtura Corporation                                                  |   | $      | (2.63  | )      |   | $      | (1.20  | )      |   | $ | (4.01 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted weighted - average shares outstanding                                        |   |   | 223.0  |   |   |   | 242.9  |   |   |   | 242.3 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| AMOUNTS ATTRIBUTABLE TO CHEMTURA CORPORATION STOCKHOLDERS:                                     |   |   |   |   |   |
| Loss from continuing operations, net of tax                                                    |   | $      | (573   | )      |   | $      | (227   | )      |   | $ | (957 | ) |
| Loss from discontinued operations, net of tax                                                  |   |   | (1     | )      |   |   | (63    | )      |   |   | (16 | ) |
| Loss on sale of discontinued operations, net of tax                                            |   |   | (12    | )      |   |   | (3     | )      |   |   | - |   |
| Net loss attributable to Chemtura Corporation                                                  |   | $      | (586   | )      |   | $      | (293   | )      |   | $ | (973 | ) |

|   | (a) | During 2010, $137 million of contractual interest expense was recorded relating to interest obligations on unsecured claims for the period from March 18, 2009 through the Effective Date that, as of the second quarter of 2010, were considered probable to be paid based on the plan of reorganization filed and later confirmed.  Included in this amount is contractual interest expense of $63 million for 2009. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                  |   | 2010   |   |   | 2009   |   |
|-------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| ASSETS                                                |   |   |   |   |   |   |
|                                                  |   |   |   |   |   |   |
| CURRENT ASSETS                                        |   |   |   |   |   |   |
| Cash and cash equivalents                             |   | $      | 201    |   |   | $      | 236 |   |
| Restricted cash                                       |   |   | 32     |   |   |   | - |   |
| Accounts receivable                                   |   |   | 489    |   |   |   | 442 |   |
| Inventories                                           |   |   | 528    |   |   |   | 489 |   |
| Other current assets                                  |   |   | 171    |   |   |   | 227 |   |
| Assets of discontinued operations                     |   |   | -      |   |   |   | 85 |   |
| Total current assets                                  |   |   | 1,421  |   |   |   | 1,479 |   |
|                                                  |   |   |   |   |   |   |   |   |
| NON-CURRENT ASSETS                                    |   |   |   |   |   |   |   |   |
| Property, plant and equipment                         |   |   | 716    |   |   |   | 750 |   |
| Goodwill                                              |   |   | 175    |   |   |   | 235 |   |
| Intangible assets, net                                |   |   | 429    |   |   |   | 474 |   |
| Non-current restricted cash                           |   |   | 6      |   |   |   | - |   |
| Other assets                                          |   |   | 166    |   |   |   | 180 |   |
|                                                  |   |   |   |   |   |   |   |   |
| Total Assets                                          |   | $      | 2,913  |   |   | $      | 3,118 |   |
|                                                  |   |   |   |   |   |   |   |   |
|  LIABILITIES AND STOCKHOLDERS' EQUITY            |   |   |   |   |   |   |   |   |
|                                                  |   |   |   |   |   |   |   |   |
| CURRENT LIABILITIES                                   |   |   |   |   |   |   |   |   |
| Short-term borrowings                                 |   | $      | 3      |   |   | $      | 252 |   |
| Accounts payable                                      |   |   | 191    |   |   |   | 126 |   |
| Accrued expenses                                      |   |   | 281    |   |   |   | 178 |   |
| Income taxes payable                                  |   |   | 14     |   |   |   | 5 |   |
| Liabilities of discontinued operations                |   |   | -      |   |   |   | 37 |   |
| Total current liabilities                             |   |   | 489    |   |   |   | 598 |   |
|                                                  |   |   |   |   |   |   |   |   |
| NON-CURRENT LIABILITIES                               |   |   |   |   |   |   |   |   |
| Long-term debt                                        |   |   | 748    |   |   |   | 3 |   |
| Pension and post-retirement health care liabilities   |   |   | 498    |   |   |   | 151 |   |
| Other liabilities                                     |   |   | 207    |   |   |   | 197 |   |
| Total liabilities not subject to compromise           |   |   | 1,942  |   |   |   | 949 |   |
|                                                  |   |   |   |   |   |   |   |   |
| LIABILITIES SUBJECT TO COMPROMISE                     |   |   | -      |   |   |   | 1,997 |   |
|                                                  |   |   |   |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                                  |   |   |   |   |   |   |   |   |
| Common stock - $.01 par value                         |   |   |   |   |   |   |   |   |
| Authorized - 500.0 shares                             |   |   |   |   |   |   |   |   |
| Issued - 95.6 shares in 2010 and 254.4 shares in 2009 |   |   | 1      |   |   |   | 3 |   |
| Additional paid-in capital                            |   |   | 4,305  |   |   |   | 3,039 |   |
| Accumulated deficit                                   |   |   | (3,068 | )      |   |   | (2,482 | ) |
| Accumulated other comprehensive loss                  |   |   | (276   | )      |   |   | (234 | ) |
| Treasury stock at cost - 11.5 shares in 2009          |   |   | -      |   |   |   | (167 | ) |
| Total Chemtura Corporation stockholders' equity       |   |   | 962    |   |   |   | 159 |   |
|                                                  |   |   |   |   |   |   |   |   |
| Non-controlling interests                             |   |   | 9      |   |   |   | 13 |   |
| Total stockholders' equity                            |   |   | 971    |   |   |   | 172 |   |
|                                                  |   |   |   |   |   |   |   |   |
| Total Liabilities and Stockholders' Equity            |   | $      | 2,913  |   |   | $      | 3,118 |   |

----

| Increase (decrease) in cash                                |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES                       |   |   |   |   |   |   |   |   |   |
| Net loss attributable to Chemtura Corporation              |   | $      | (586   | )      |   | $      | (293   | )      |   | $ | (973 | ) |
| Adjustments to reconcile net loss attributable to Chemtura |   |   |   |   |   |   |   |   |   |   |   |   |
| to net cash (used in) provided by operating activities:    |   |   |   |   |   |   |   |   |   |   |   |   |
| (Gain) loss on sale of business                            |   |   | (2     | )      |   |   | -      |   |   |   | 25 |   |
| Loss on sale of discontinued operations                    |   |   | 12     |   |   |   | 3      |   |   |   | - |   |
| Impairment charges                                         |   |   | 60     |   |   |   | 104    |   |   |   | 986 |   |
| Loss on early extinguishment of debt                       |   |   | 88     |   |   |   | -      |   |   |   | - |   |
| Depreciation and amortization                              |   |   | 175    |   |   |   | 173    |   |   |   | 237 |   |
| Stock-based compensation expense                           |   |   | 10     |   |   |   | 3      |   |   |   | 5 |   |
| Reorganization items, net                                  |   |   | 186    |   |   |   | 35     |   |   |   | - |   |
| Changes in estimates related to expected allowable claims  |   |   | 35     |   |   |   | 73     |   |   |   | - |   |
| Non-cash contractual post-petition interest expense        |   |   | 113    |   |   |   | -      |   |   |   | - |   |
| Provision for doubtful accounts                            |   |   | 3      |   |   |   | 5      |   |   |   | 3 |   |
| Equity income                                              |   |   | (4     | )      |   |   | -      |   |   |   | (4 | ) |
| Deferred taxes                                             |   |   | 34     |   |   |   | -      |   |   |   | (74 | ) |
| Changes in assets and liabilities, net:                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts receivable                                        |   |   | (77    | )      |   |   | 36     |   |   |   | 89 |   |
| Impact of accounts receivable facilities                   |   |   | -      |   |   |   | (103   | )      |   |   | (136 | ) |
| Inventories                                                |   |   | (36    | )      |   |   | 85     |   |   |   | (12 | ) |
| Restricted cash                                            |   |   | (38    | )      |   |   | -      |   |   |   | - |   |
| Other current assets                                       |   |   | 11     |   |   |   | (4     | )      |   |   | (41 | ) |
| Other assets                                               |   |   | (4     | )      |   |   | (10    | )      |   |   | 2 |   |
| Accounts payable                                           |   |   | 70     |   |   |   | 16     |   |   |   | (25 | ) |
| Accrued expenses                                           |   |   | 36     |   |   |   | (15    | )      |   |   | (61 | ) |
| Income taxes payable                                       |   |   | (18    | )      |   |   | (28    | )      |   |   | (11 | ) |
| Deposit for civil antitrust settlements in escrow          |   |   | -      |   |   |   | -      |   |   |   | 15 |   |
| Pension and post-retirement health care liabilities        |   |   | (61    | )      |   |   | (26    | )      |   |   | (46 | ) |
| Liabilities subject to compromise                          |   |   | (195   | )      |   |   | (31    | )      |   |   | - |   |
| Other liabilities                                          |   |   | (10    | )      |   |   | 26     |   |   |   | 17 |   |
| Other                                                      |   |   | (6     | )      |   |   | -      |   |   |   | (7 | ) |
| Net cash (used in) provided by operating activities        |   |   | (204   | )      |   |   | 49     |   |   |   | (11 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net proceeds from divestments                              |   |   | 43     |   |   |   | 3      |   |   |   | 64 |   |
| Payments for acquisitions, net of cash acquired            |   |   | -      |   |   |   | (5     | )      |   |   | (41 | ) |
| Capital expenditures                                       |   |   | (124   | )      |   |   | (56    | )      |   |   | (121 | ) |
| Net cash used in investing activities                      |   |   | (81    | )      |   |   | (58    | )      |   |   | (98 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds from Senior Notes                                 |   |   | 452    |   |   |   | -      |   |   |   | - |   |
| Proceeds fromTerm Loan                                     |   |   | 292    |   |   |   | -      |   |   |   | - |   |
| Proceeds from Amended DIP Credit Facility                  |   |   | 299    |   |   |   | -      |   |   |   | - |   |
| Payments on Amended DIP Credit Facility                    |   |   | (300   | )      |   |   | -      |   |   |   | - |   |
| (Payments on) proceeds from DIP Credit Facility, net       |   |   | (250   | )      |   |   | 250    |   |   |   | - |   |
| Repayments of 6.875% Notes due 2016                        |   |   | (75    | )      |   |   | -      |   |   |   | - |   |
| Repayments of 6.875% Debentures due 2026                   |   |   | (19    | )      |   |   | -      |   |   |   | - |   |
| Repayments of 7% Notes due 2009                            |   |   | (44    | )      |   |   | -      |   |   |   | - |   |
| (Payments on) proceeds from 2007 Credit Facility, net      |   |   | (54    | )      |   |   | (28    | )      |   |   | 180 |   |
| Proceeds from long term borrowings                         |   |   | -      |   |   |   | 1      |   |   |   | 1 |   |
| Payments on long term borrowings                           |   |   | -      |   |   |   | (18    | )      |   |   | (31 | ) |
| Payments on short term borrowings, net                     |   |   | -      |   |   |   | (2     | )      |   |   | (1 | ) |
| Payments for debt issuance and refinancing costs           |   |   | (40    | )      |   |   | (30    | )      |   |   | (1 | ) |
| Payments for make-whole and no-call provisions             |   |   | (10    | )      |   |   | -      |   |   |   | - |   |
| Dividends paid                                             |   |   | -      |   |   |   | -      |   |   |   | (36 | ) |
| Other financing activities                                 |   |   | -      |   |   |   | -      |   |   |   | 2 |   |
| Net cash provided by financing activities                  |   |   | 251    |   |   |   | 173    |   |   |   | 114 |   |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH AND CASH EQUIVALENTS                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect of exchange rates on cash and cash equivalents      |   |   | (1     | )      |   |   | 4      |   |   |   | (14 | ) |
| Change in cash and cash equivalents                        |   |   | (35    | )      |   |   | 168    |   |   |   | (9 | ) |
| Cash and cash equivalents at beginning of year             |   |   | 236    |   |   |   | 68     |   |   |   | 77 |   |
| Cash and cash equivalents at end of year                   |   | $      | 201    |   |   | $      | 236    |   |   | $ | 68 |   |

----

|                                                       |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   | Accumulated        |   |   |     |   |   |        |   |   |   |   |
|------------------------------------------------------------|--------|--------|--------|--------|----------|--------|--------|--------|--------|--------|------------|--------|--------|-------------|--------|--------|--------------------|--------|--------|----------|--------|--------|-------------|--------|--------|--------|--------|
|                                                       |   | Common |   |   |     |   |   |   |   |   | Additional |   |   |        |   |   | Other              |   |   |     |   |   | Non         |   |   |   |   |
|                                                       |   | Shares |   |   | Treasury |   |   | Common |   |   | Paid-in    |   |   | Accumulated |   |   | Comprehensive      |   |   | Treasury |   |   | Controlling |   |   |   |   |
|                                                       |   | Issued |   |   | Shares   |   |   | Stock  |   |   | Capital    |   |   | Deficit     |   |   | Income (Loss) |   |   | Stock    |   |   | Interests   |   |   | Total  |   |
| Balance, January 1, 2008                                   |   |   | 253.6  |   |     |   | 11.5   |   |   | $      | 3          |   |   | $           | 3,028  |   |               | $      | (1,180 | )        |   | $      | 168         |   |   | $      | (167   | ) |   | $ | 46 |   |   | $ | 1,898 |   |
| Comprehensive loss:                                        |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) earnings                                        |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   | (973   | )        |   |   |        |   |   |   |   |   |   |   | 2 |   |   |   | (971 | ) |
| Equity adjustment for translation of foreign               |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| currencies, net of deferred tax expense of $10             |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (189        | )      |   |   |   |   |   |   | (2 | ) |   |   | (191 | ) |
| Unrecognized pension and post-retirement                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| plan costs, net of deferred tax benefit of $19             |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (186        | )      |   |   |   |   |   |   |   |   |   |   | (186 | ) |
| Changes in fair value of derivatives                       |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (1          | )      |   |   |   |   |   |   |   |   |   |   | (1 | ) |
| Total comprehensive loss                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | (1,349 | ) |
| Cash dividends ($0.15 per share)                           |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   | (36    | )        |   |   |        |   |   |   |   |   |   |   |   |   |   |   | (36 | ) |
| Dividends attributable to the noncontrolling interest      |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | (1 | ) |   |   | (1 | ) |
| Acquisition of noncontrolling interests' share             |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| of subsidiaries                                            |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | (35 | ) |   |   | (35 | ) |
| Other                                                      |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | 3 |   |   |   | 3 |   |
| Stock-based compensation                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        | 6      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 6 |   |
| Stock options exercised                                    |   |   | 0.1    |   |     |   |   |   |   |   |       |   |   |        | 1      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 1 |   |
| Other issuances                                            |   |   | 0.4    |   |     |   |   |   |   |   |       |   |   |        | 1      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 1 |   |
| Balance, December 31, 2008                                 |   |   | 254.1  |   |     |   | 11.5   |   |   |   | 3          |   |   |        | 3,036  |   |               |   | (2,189 | )        |   |   | (208        | )      |   |   | (167   | ) |   |   | 13 |   |   |   | 488 |   |
| Comprehensive loss:                                        |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   | (293   | )        |   |   |        |   |   |   |   |   |   |   | 1 |   |   |   | (292 | ) |
| Equity adjustment for translation of foreign               |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| currencies                                                 |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | 51          |   |   |   |   |   |   |   |   |   |   |   | 51 |   |
| Unrecognized pension and post-retirement                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| plan costs, net of deferred tax provision of $1            |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (78         | )      |   |   |   |   |   |   |   |   |   |   | (78 | ) |
| Changes in fair value of derivatives                       |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | 1           |   |   |   |   |   |   |   |   |   |   |   | 1 |   |
| Total comprehensive loss                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | (318 | ) |
| Other                                                      |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | (1 | ) |   |   | (1 | ) |
| Stock-based compensation                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        | 3      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 3 |   |
| Other issuances                                            |   |   | 0.3    |   |     |   |   |   |   |   |       |   |   |        | -      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | - |   |
| Balance, December 31, 2009                                 |   |   | 254.4  |   |     |   | 11.5   |   |   |   | 3          |   |   |        | 3,039  |   |               |   | (2,482 | )        |   |   | (234        | )      |   |   | (167   | ) |   |   | 13 |   |   |   | 172 |   |
| Comprehensive loss:                                        |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   | (586   | )        |   |   |        |   |   |   |   |   |   |   | 1 |   |   |   | (585 | ) |
| Equity adjustment for translation of foreign               |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| currencies                                                 |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (26         | )      |   |   |   |   |   |   |   |   |   |   | (26 | ) |
| Unrecognized pension and post-retirement                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| plan costs, net of deferred tax provision of $4            |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   | (16         | )      |   |   |   |   |   |   |   |   |   |   | (16 | ) |
| Total comprehensive loss                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | (627 | ) |
| Cancellation of Chemtura previous common stock             |   |   | (254.4 | )      |     |   |   |   |   |   | (3         | )      |   |        | 3      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Treasury stock cancellation                                |   |   |   |   |     |   | (11.5  | )      |   |   |       |   |   |        | (167   | )      |               |   |   |     |   |   |        |   |   |   | 167    |   |   |   |   |   |   |   | - |   |
| Issuance of reorganized Chemtura common stock              |   |   | 95.5   |   |     |   |   |   |   |   | 1          |   |   |        | 1,423  |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 1,424 |   |
| Dividends attributable to the noncontrolling interest      |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | (1 | ) |   |   | (1 | ) |
| Stock-based compensation                                   |   |   |   |   |     |   |   |   |   |   |       |   |   |        | 7      |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | 7 |   |
| Purchase of subsidiary shares from noncontrolling interest |   |   |   |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   | (4 | ) |   |   | (4 | ) |
| Other issuances                                            |   |   | 0.1    |   |     |   |   |   |   |   |       |   |   |        |   |   |               |   |   |     |   |   |        |   |   |   |   |   |   |   |   |   |   |   | - |   |
| Balance, December 31, 2010                                 |   |   | 95.6   |   |     |   | -      |   |   | $      | 1          |   |   | $           | 4,305  |   |               | $      | (3,068 | )        |   | $      | (276        | )      |   | $      | -      |   |   | $ | 9 |   |   | $ | 971 |   |

----

----

| (In millions)                                    |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|--------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                             |   |   |   |   |   |   |   |   |   |
| Costs of accounts receivable facilities          |   | $      | -      |   |   | $      | (2     | )      |   | $ | (16 | ) |
| Foreign exchange (loss) gain                     |   |   | (11    | )      |   |   | (22    | )      |   |   | 25 |   |
| Interest income                                  |   |   | 3      |   |   |   | 7      |   |   |   | 8 |   |
| Fees associated with debt waivers and amendments |   |   | -      |   |   |   | -      |   |   |   | (6 | ) |
| Other items, individually less than $1 million   |   |   | 2      |   |   |   | -      |   |   |   | (2 | ) |
|                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   | $      | (6     | )      |   | $      | (17    | )      |   | $ | 9 |   |

----

----

----

----

----

----

|                                                |   | As of                  |   |
|-----------------------------------------------------|--------|-----------------------------|--------|
| (In millions)                                  |   | December 31, 2009 |   |
| 6.875% Notes due 2016 (a)                           |   | $                           | 500    |   |
| 7% Notes due July 2009 (a)                          |   |                        | 370    |   |
| 6.875% Debentures due 2026 (a)                      |   |                        | 150    |   |
| 2007 Credit Facility (a)                            |   |                        | 152    |   |
| Other borrowings                                    |   |                        | 3      |   |
| Total debt subject to compromise                    |   |                        | 1,175  |   |
|                                                |   |                        |   |   |
| Pension and post-retirement health care liabilities |   |                        | 405    |   |
| Accounts payable                                    |   |                        | 130    |   |
| Environmental reserves                              |   |                        | 42     |   |
| Litigation reserves                                 |   |                        | 127    |   |
| Unrecognized tax benefits and other taxes           |   |                        | 79     |   |
| Accrued interest expense                            |   |                        | 7      |   |
| Other miscellaneous liabilities                     |   |                        | 32     |   |
| Total liabilities subject to compromise             |   | $                           | 1,997  |   |

|   | (a) | During 2009, the carrying value of pre-petition debt was adjusted to its respective face value as this represented the expected allowable claim in the Chapter 11 cases.  As a result, unamortized debt issuance costs, discounts and premiums were charged to reorganization items, net on our Consolidated Statements of Operations.  During 2010, further adjustments were made based on the allowed claim amounts. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (In millions)                                             |   |   |   |
|-----------------------------------------------------------|--------|--------|--------|
| Balance at December 31, 2009                              |   | $      | 1,997  |   |
| Post-petition interest expense                            |   |   | 137    |   |
| Changes in estimates related to expected allowable claims |   |   | 36     |   |
| Post-retirement plan benefit modifications                |   |   | (23    | ) |
| Post-retirement plan payments                             |   |   | (11    | ) |
|                                                      |   |   |   |   |
| Effects of Plan consummation:                             |   |   |   |   |
| Reinstated assumed liabilities                            |   |   | (451   | ) |
| Reinstated disputed claims not yet allowed                |   |   | (78    | ) |
| Cash payments for settlements upon emergence              |   |   | (373   | ) |
| New Common Stock issuance for settlements upon emergence  |   |   | (1,423 | ) |
| Loss on settlements related to Plan consummation          |   | $      | (189   | ) |

|                                                                  |   | Year-Ended                  |   |   | Year-Ended                  |   |
|-----------------------------------------------------------------------|--------|-----------------------------|--------|--------|-----------------------------|--------|
| (In millions)                                                         |   | December 31, 2010 |   |   | December 31, 2009 |   |
| Professional fees and other                                           |   | $                           | 117    |   |                        |   | 60 |   |
| Write-off of debt discounts and premiums (a)                          |   |                        | (2     | )      |                        |   | 24 |   |
| Write-off of debt issuance costs (a)                                  |   |                        | -      |   |                        |   | 7 |   |
| Write-off of deferred charges related to termination of               |   |                        |   |   |                        |   |   |   |
| U.S. accounts receivable facility                                     |   |                        | -      |   |                        |   | 4 |   |
| Rejections or terminations of lease and other contract agreements (b) |   |                        | 2      |   |                        |   | 9 |   |
| Severance - closure of manufacturing plants and warehouses (b)        |   |                        | 3      |   |                        |   | 1 |   |
| Claim settlements, net (c)                                            |   |                        | 183    |   |                        |   | (8 | ) |
|                                                                  |   |                        |   |   |                        |   |   |   |
| Total reorganization items, net                                       |   | $                           | 303    |   |                        |   | 97 |   |

|   | (a) | During 2009, the carrying value of pre-petition debt was adjusted to its respective face value as this represented the expected allowable claim in the Chapter 11 cases.  As a result, unamortized debt issuance costs, discounts and premiums were charged to reorganization items, net on our Consolidated Statements of Operations.  During 2010, further adjustments were made based on the allowed claim. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Represents charges for cost savings initiatives for which Bankruptcy Court approval has been obtained or requested.  For additional information see Note 4 – Restructuring and Asset Impairment Activities. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Represents the difference between the settlement amount of certain pre-petition obligations (which for obligations settled in New Common Stock is based on the fair value of our stock at the issuance date) and the corresponding carrying value of the recorded liabilities. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                      |   | Year Ended             |   |
|-----------------------------------------------------------|--------|-----------------------------|--------|
|                                                      |   | December 31, 2009 |   |
|                                                      |   |                        |   |
| Net sales                                                 |   | $                           | 1,826  |   |
|                                                      |   |                        |   |   |
| Cost of goods sold                                        |   |                        | 1,472  |   |
| Selling, general and administrative                       |   |                        | 181    |   |
| Depreciation and amortization                             |   |                        | 105    |   |
| Research and development                                  |   |                        | 20     |   |
| Antitrust costs                                           |   |                        | 9      |   |
| Changes in estimates related to expected allowable claims |   |                        | 73     |   |
|                                                      |   |                        |   |   |
| Operating loss                                            |   |                        | (34    | ) |
|                                                      |   |                        |   |   |
| Interest expense                                          |   |                        | (77    | ) |
| Other expense, net                                        |   |                        | (18    | ) |
| Reorganization items, net                                 |   |                        | (96    | ) |
| Equity in net loss of subsidiaries                        |   |                        | (43    | ) |
|                                                      |   |                        |   |   |
| Loss before income taxes                                  |   |                        | (268   | ) |
| Income tax benefit                                        |   |                        | 25     |   |
|                                                      |   |                        |   |   |
| Loss from continuing operations                           |   |                        | (243   | ) |
| Loss from discontinued operations, net of tax             |   |                        | (50    | ) |
| Net loss                                                  |   | $                           | (293   | ) |

| ASSETS                                                 |   |   |   |
|--------------------------------------------------------|--------|--------|--------|
| Current assets                                         |   | $      | 706    |   |
| Intercompany receivables                               |   |   | 538    |   |
| Investment in subsidiaries                             |   |   | 1,942  |   |
| Property, plant and equipment                          |   |   | 422    |   |
| Goodwill                                               |   |   | 149    |   |
| Other assets                                           |   |   | 397    |   |
| Total assets                                           |   | $      | 4,154  |   |
|                                                   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                   |   |   |   |   |
| Current liabilities                                    |   | $      | 400    |   |
| Intercompany payables                                  |   |   | 65     |   |
| Other long-term liabilities                            |   |   | 73     |   |
| Total liabilities not subject to compromise            |   |   | 538    |   |
| Liabilities subject to compromise (a)                  |   |   | 3,444  |   |
| Total stockholders' equity                             |   |   | 172    |   |
| Total liabilities and stockholders' equity             |   | $      | 4,154  |   |
|                                                   |   |   |   |   |
| (a) Includes inter-company payables of $1,447 million. |   |   |   |   |

----

| Increase (decrease) to cash                                                 |   |   |   |
|-----------------------------------------------------------------------------|--------|--------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES                                        |   |   |   |
| Net loss                                                                    |   | $      | (293   | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |   |   |   |
| Impairment of long-lived assets                                             |   |   | 54     |   |
| Depreciation and amortization                                               |   |   | 113    |   |
| Stock-based compensation expense                                            |   |   | 3      |   |
| Changes in estimates related to expected allowable claims                   |   |   | 73     |   |
| Reorganization items, net                                                   |   |   | 34     |   |
| Changes in assets and liabilities, net                                      |   |   | (64    | ) |
| Net cash used in operating activities                                       |   |   | (80    | ) |
|                                                                        |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                        |   |   |   |   |
| Net proceeds from divestments                                               |   |   | 3      |   |
| Payments for acquisitions, net of cash acquired                             |   |   | (5     | ) |
| Capital expenditures                                                        |   |   | (34    | ) |
| Net cash used in investing activities                                       |   |   | (36    | ) |
|                                                                        |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                        |   |   |   |   |
| Proceeds from debtor-in-possession facility, net                            |   |   | 250    |   |
| Payments on credit facility, net                                            |   |   | (28    | ) |
| Payments on long term borrowings                                            |   |   | (18    | ) |
| Payments for debt issuance costs                                            |   |   | (30    | ) |
| Net cash provided by financing activities                                   |   |   | 174    |   |
|                                                                        |   |   |   |   |
| CASH AND CASH EQUIVALENTS                                                   |   |   |   |   |
| Change in cash and cash equivalents                                         |   |   | 58     |   |
| Cash and cash equivalents at beginning of period                            |   |   | 23     |   |
| Cash and cash equivalents at end of period                                  |   | $      | 81     |   |

----

|                                      |   | Year Ended |   |
|-------------------------------------------|--------|------------|--------|
| (In millions)                             |   | 2010       |   |   | 2009 |   |   | 2008 |   |
|                                      |   |       |   |   |   |   |   |   |   |
| Net Sales                                 |   | $          | 96     |   |   | $ | 241 |   |   | $ | 392 |   |
|                                      |   |       |   |   |   |   |   |   |   |   |   |   |
| Pre-tax loss from discontinued operations |   | $          | (1     | ) |   | $ | (69 | )(a) |   | $ | (14 | ) |
| Income tax benefit (provision)            |   |       | -      |   |   |   | 6 |   |   |   | (2 | ) |
| Loss from discontinued operations         |   | $          | (1     | ) |   | $ | (63 | ) |   | $ | (16 | ) |

|   | (a) | In 2009, we recorded a pre-tax impairment charge of $65 million to write-down the value of property, plant and equipment, net and intangible assets, net (see Note 4 – Restructuring and Asset Impairment Activities for further information). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| (In millions)                                 |   | SeveranceandRelatedCosts |   |   | OtherFacilityClosureCosts |   |   | Total  |   |
|-----------------------------------------------|--------|--------------------------|--------|--------|---------------------------|--------|--------|--------|--------|
| Balance at January 1, 2008                    |   | $                        | 23     |   |                      |   | 6      |   |   |   | 29 |   |
| Facility closure, severance and related costs |   |                     | 24     |   |                      |   | (1     | )      |   |   | 23 |   |
| Loss from discontinued operations, net of tax |   |                     | 3      |   |                      |   | -      |   |   |   | 3 |   |
| Cash payments                                 |   |                     | (24    | )      |                      |   | (2     | )      |   |   | (26 | ) |
| Non-cash charges and accretion                |   |                     | 3      |   |                      |   | (1     | )      |   |   | 2 |   |
| Balance at December 31, 2008                  |   |                     | 29     |   |                      |   | 2      |   |   |   | 31 |   |
| Facility closure, severance and related costs |   |                     | 2      |   |                      |   | 1      |   |   |   | 3 |   |
| Reorganization initiatives, net               |   |                     | 1      |   |                      |   | 3      |   |   |   | 4 |   |
| Cash payments                                 |   |                     | (23    | )      |                      |   | (2     | )      |   |   | (25 | ) |
| Balance at December 31, 2009                  |   |                     | 9      |   |                      |   | 4      |   |   |   | 13 |   |
| Facility closure, severance and related costs |   |                     | 1      |   |                      |   | -      |   |   |   | 1 |   |
| Cash payments                                 |   |                     | (9     | )      |                      |   | (4     | )      |   |   | (13 | ) |
| Balance at December 31, 2010                  |   | $                        | 1      |   |                      |   | -      |   |   | $ | 1 |   |

----

|   | · | During the fourth quarter of 2010, we recorded an impairment charge of $57 million to reduce the carrying value of goodwill in our Chemtura AgroSolutionsTM segment.  During the annual impairment review as of July 31, 2010, we identified risks inherent in our Chemtura AgroSolutionsTM reporting unit’s forecast given its recent performance which was below expectations.  At the end of the fourth quarter of 2010, this reporting unit’s performance had significantly fallen below expectations for several consecutive quarters.  We concluded that it was appropriate to perform a goodwill impairment review as of December 31, 2010.  We used revised forecasts to compute the estimated fair value of this reporting unit.  These projections indicated that the estimated fair value of theChemtura AgroSolutionsTM reporting unit was less than the carrying value.  Based upon our preliminary step 2 analysis, an estimated goodwill impairment charge of $57 million was recorded (representing the remaining goodwill of this reporting unit).  Due to the complexities of the analysis, which involves an allocation of the fair value, we will finalize our step 2 analysis and goodwill impairment charge in the first quarter of 2011. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | During the first half of 2010, we recorded an impairment charge of $3 million, which was included in loss from discontinued operations, net of tax in our Consolidated Statements of Operations, primarily related to further reducing the carrying value of property, plant and equipment of our PVC additives business, formerly a component of the Industrial Engineered Products reporting segment, to reflect the revised estimated fair value of the assets.  The decrease in fair value is the result of the definitive agreement entered into with counterparties in December 2009 for the sale of our PVC additives business. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In the fourth quarter of 2009, we recorded an impairment charge of $7 million, of which $5 million was included in loss from discontinued operations, net of tax in our Consolidated Statements of Operations, primarily related to further reducing the carrying value of property, plant and equipment of our PVC additives business to reflect the revised estimated fair value of the assets. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In the second quarter of 2009, we experienced continued year-over-year revenue reductions from the impact of the global recession in the electronic, building and construction industries.  In addition, the Consumer Products segment revenues were impacted by cooler and wetter than normal weather in the northeastern and mid-western regions of the United States.  Based on these factors, we reviewed the recoverability of the long-lived assets for the asset groupings within our segments. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In the fourth quarter of 2008, we recorded an impairment charge of $665 million related to reducing the carrying value of goodwill in our Consumer Products, Industrial Performance Products and Industrial Engineered Products segments. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In the third quarter of 2008, we recorded an impairment charge of $1 million related to reducing the carrying value of property, plant and equipment at our Catenoy, France facility, which was the result of the product line closures previously announced. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In the second quarter of 2008, we recorded an impairment charge of $320 million related to reducing the carrying value of goodwill in our Consumer Products segment. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (In millions)              |   | 2010   |   |   | 2009   |   |
|----------------------------|--------|--------|--------|--------|--------|--------|
| Finished goods             |   | $      | 325    |   |   | $      | 319 |   |
| Work in process            |   |   | 41     |   |   |   | 41 |   |
| Raw materials and supplies |   |   | 162    |   |   |   | 129 |   |
|                       |   | $      | 528    |   |   | $      | 489 |   |

----

| (In millions)                     |   | 2010   |   |   | 2009   |   |
|-----------------------------------|--------|--------|--------|--------|--------|--------|
| Land and improvements             |   | $      | 79     |   |   | $      | 80 |   |
| Buildings and improvements        |   |   | 231    |   |   |   | 236 |   |
| Machinery and equipment           |   |   | 1,174  |   |   |   | 1,156 |   |
| Information systems and equipment |   |   | 173    |   |   |   | 218 |   |
| Furniture, fixtures and other     |   |   | 32     |   |   |   | 30 |   |
| Construction in progress          |   |   | 97     |   |   |   | 54 |   |
|                              |   |   | 1,786  |   |   |   | 1,774 |   |
| Less: accumulated depreciation    |   |   | 1,070  |   |   |   | 1,024 |   |
|                              |   | $      | 716    |   |   | $      | 750 |   |

|                                         |   |     |   |   | Industrial  |   |   |                 |   |   |   |   |
|----------------------------------------------|--------|----------|--------|--------|-------------|--------|--------|----------------------|--------|--------|--------|--------|
|                                         |   | Consumer |   |   | Performance |   |   | Chemtura             |   |   |   |   |
| (In millions)                                |   | Products |   |   | Products    |   |   | AgroSolutionsTM |   |   | Total  |   |
|                                         |   |     |   |   |        |   |   |                 |   |   |   |   |
| Goodwill at December 31, 2008                |   | $        | 577    |   |        |   | 261    |                 |   |   | 57     |   |   | $ | 895 |   |
| Accumulated impairments at December 31, 2008 |   |     | (540   | )      |        |   | (90    | )                    |   |   | -      |   |   |   | (630 | ) |
| Net Goodwill at December 31, 2008            |   |     | 37     |   |        |   | 171    |                 |   |   | 57     |   |   |   | 265 |   |
|                                         |   |     |   |   |        |   |   |                 |   |   |   |   |   |   |   |   |
| Impairment charges                           |   |     | (37    | )      |        |   | -      |                 |   |   | -      |   |   |   | (37 | ) |
| Foreign currency translation                 |   |     | -      |   |        |   | 7      |                 |   |   | -      |   |   |   | 7 |   |
|                                         |   |     |   |   |        |   |   |                 |   |   |   |   |   |   |   |   |
| Goodwill at December 31, 2009                |   |     | -      |   |        |   | 268    |                 |   |   | 57     |   |   |   | 325 |   |
| Accumulated impairments at December 31, 2009 |   |     | -      |   |        |   | (90    | )                    |   |   | -      |   |   |   | (90 | ) |
| Net Goodwill at December 31, 2009            |   |     | -      |   |        |   | 178    |                 |   |   | 57     |   |   |   | 235 |   |
|                                         |   |     |   |   |        |   |   |                 |   |   |   |   |   |   |   |   |
| Impairment charges                           |   |     | -      |   |        |   | -      |                 |   |   | (57    | )      |   |   | (57 | ) |
| Foreign currency translation                 |   |     | -      |   |        |   | (3     | )                    |   |   | -      |   |   |   | (3 | ) |
|                                         |   |     |   |   |        |   |   |                 |   |   |   |   |   |   |   |   |
| Goodwill at December 31, 2010                |   |     | -      |   |        |   | 265    |                 |   |   | -      |   |   |   | 265 |   |
| Accumulated impairments at December 31, 2010 |   |     | -      |   |        |   | (90    | )                    |   |   | -      |   |   |   | (90 | ) |
| Net Goodwill at December 31, 2010            |   | $        | -      |   |        |   | 175    |                 |   |   | -      |   |   | $ | 175 |   |

----

|                   |   | 2010       |   |   | 2009                    |   |
|------------------------|--------|------------|--------|--------|-------------------------|--------|
| (In millions)          |   | GrossValue |   |   | AccumulatedAmortization |   |   | NetIntangibles |   |   | GrossValue |   |   | AccumulatedAmortization |   |   | Net Intangibles |   |
| Patents                |   | $          | 127    |   |                    | $      | (62 | ) |   | $ | 65 |   |   | $ | 129 |   |   | $ | (55 | ) |   | $ | 74 |   |
| Trademarks             |   |       | 264    |   |                    |   | (62 | ) |   |   | 202 |   |   |   | 271 |   |   |   | (54 | ) |   |   | 217 |   |
| Customer relationships |   |       | 147    |   |                    |   | (43 | ) |   |   | 104 |   |   |   | 151 |   |   |   | (38 | ) |   |   | 113 |   |
| Production rights      |   |       | 46     |   |                    |   | (24 | ) |   |   | 22 |   |   |   | 46 |   |   |   | (19 | ) |   |   | 27 |   |
| Other                  |   |       | 73     |   |                    |   | (37 | ) |   |   | 36 |   |   |   | 76 |   |   |   | (33 | ) |   |   | 43 |   |
| Total                  |   | $          | 657    |   |                    | $      | (228 | ) |   | $ | 429 |   |   | $ | 673 |   |   | $ | (199 | ) |   | $ | 474 |   |

----

| (In millions)                                                                                                    |   | 2010   |   |   | 2009   |   |
|------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                             |   |   |   |   |   |   |
| 7.875% Senior Notes due 2018, net of unamortized discount of $3 million with an effective interest rate of 7.94% |   | $      | 452    |   |   | $      | - |   |
| Term Loan due 2016, net of unamortized discount of $3 million with an effective interest rate of 5.65%           |   |   | 292    |   |   |   | - |   |
| 6.875 % Notes due 2016 (a)                                                                                       |   |   | -      |   |   |   | 500 |   |
| 7% Notes due July 15, 2009 (a)                                                                                   |   |   | -      |   |   |   | 370 |   |
| 6.875% Debentures due 2026 (a)                                                                                   |   |   | -      |   |   |   | 150 |   |
| 2007 Credit Facility (a)                                                                                         |   |   | -      |   |   |   | 152 |   |
| DIP Credit facility                                                                                              |   |   | -      |   |   |   | 250 |   |
| Other borrowings (b)                                                                                             |   |   | 7      |   |   |   | 8 |   |
| Total Debt                                                                                                       |   |   | 751    |   |   |   | 1,430 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |
| Less: Short-term borrowings                                                                                      |   |   | (3     | )      |   |   | (252 | ) |
|           Debt included in liabilities subject to compromise   |   |   | -      |   |   |   | (1,175 | ) |
|                                                                                                             |   |   |   |   |   |   |   |   |
| Total Long-Term Debt                                                                                             |   | $      | 748    |   |   | $      | 3 |   |

|   | (a) | Outstanding balance is classified as liabilities subject to compromise on our Consolidated Balance Sheet at December 31, 2009. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | $3 million of other borrowings is classified as liabilities subject to compromise on our Consolidated Balance Sheet at December 31, 2009. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

----

| (In millions)                                       |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-----------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                |   |   |   |   |   |   |   |   |   |
| Pre-tax (Loss) Earnings from Continuing Operations: |   |   |   |   |   |   |   |   |   |
| Domestic                                            |   | $      | (622   | )      |   | $      | (206   | )      |   | $ | (698 | ) |
| Foreign                                             |   |   | 72     |   |   |   | (10    | )      |   |   | (286 | ) |
|                                                |   | $      | (550   | )      |   | $      | (216   | )      |   | $ | (984 | ) |
| Income Tax Provision (Benefit)                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Domestic                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Current                                             |   | $      | (31    | )      |   | $      | (3     | )      |   | $ | 4 |   |
| Deferred                                            |   |   | 31     |   |   |   | (22    | )      |   |   | (82 | ) |
|                                                |   | $      | -      |   |   | $      | (25    | )      |   | $ | (78 | ) |
| Foreign                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Current                                             |   | $      | 19     |   |   | $      | 13     |   |   | $ | 41 |   |
| Deferred                                            |   |   | 3      |   |   |   | 22     |   |   |   | 8 |   |
|                                                |   | $      | 22     |   |   | $      | 35     |   |   | $ | 49 |   |
| Total                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Current                                             |   | $      | (12    | )      |   | $      | 10     |   |   | $ | 45 |   |
| Deferred                                            |   |   | 34     |   |   |   | -      |   |   |   | (74 | ) |
|                                                |   | $      | 22     |   |   | $      | 10     |   |   | $ | (29 | ) |

| (In millions)                                 |   | 2010   |   |    | 2009   |   |   | 2008   |   |
|-----------------------------------------------|--------|--------|--------|---------|--------|--------|--------|--------|--------|
| Income tax benefit at the U.S. statutory rate |   | $      | (193   | )       |   | $      | (76    | )      |   | $ | (344 | ) |
| Antitrust legal settlements                   |   |   | (2     | )       |   |   | 1      |   |   |   | 2 |   |
| Foreign rate differential                     |   |   | (3     | )       |   |   | 22     |   |   |   | 17 |   |
| State income taxes, net of federal benefit    |   |   | 1      |    |   |   | 1      |   |   |   | (1 | ) |
| Tax audit settlements                         |   |   | (13    | )  |   |   | -      |   |   |   | - |   |
| Valuation allowances                          |   |   | 307    |    |   |   | 100    |   |   |   | 44 |   |
| U.S. tax on foreign earnings                  |   |   | (135   | )       |   |   | (1     | )      |   |   | (11 | ) |
| Nondeductible reorganizational expenses       |   |   | 23     |    |   |   | 15     |   |   |   | - |   |
| Nondeductible expenses, other                 |   |   | 1      |    |   |   | 1      |   |   |   | 1 |   |
| Nondeductible stock compensation              |   |   | 14     |    |   |   | -      |   |   |   | - |   |
| Depletion                                     |   |   | (5     | )       |   |   | (2     | )      |   |   | (4 | ) |
| Post-petition interest expense                |   |   | 22     |    |   |   | (22    | )      |   |   | - |   |
| Goodwill                                      |   |   | 19     |    |   |   | -      |   |   |   | 291 |   |
| Income tax credits                            |   |   | (9     | )  |   |   | (7     | )      |   |   | 1 |   |
| Tax law changes                               |   |   | -      |    |   |   | -      |   |   |   | (1 | ) |
| Taxes attributable to prior periods           |   |   | (4     | )       |   |   | (21    | )      |   |   | (15 | ) |
| Other, net                                    |   |   | (1     | )       |   |   | (1     | )      |   |   | (9 | ) |
| Actual income tax provision (benefit)         |   | $      | 22     |    |   | $      | 10     |   |   | $ | (29 | ) |

----

| (In millions)                                        |   | 2010   |   |   | 2009   |   |
|------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Deferred tax assets:                                 |   |   |   |   |   |   |
| Pension and other post-retirement liabilities        |   | $      | 180    |   |   | $      | 211 |   |
| Net operating loss carryforwards                     |   |   | 443    |   |   |   | 229 |   |
| Other accruals                                       |   |   | 22     |   |   |   | 58 |   |
| Tax credit carryforwards                             |   |   | 64     |   |   |   | 77 |   |
| Accruals for environmental remediation               |   |   | 37     |   |   |   | 38 |   |
| Inventories and other                                |   |   | 25     |   |   |   | 31 |   |
| Financial instruments                                |   |   | 4      |   |   |   | 3 |   |
| Total deferred tax assets                            |   |   | 775    |   |   |   | 647 |   |
| Valuation allowance                                  |   |   | (697   | )      |   |   | (380 | ) |
| Net deferred tax assets after valuation allowance    |   |   | 78     |   |   |   | 267 |   |
|                                                 |   |   |   |   |   |   |   |   |
| Deferred tax liabilities:                            |   |   |   |   |   |   |   |   |
| Unremitted foreign earnings of subsidiaries          |   |   | (5     | )      |   |   | (153 | ) |
| Property, plant and equipment                        |   |   | (64    | )      |   |   | (67 | ) |
| Intangibles                                          |   |   | (30    | )      |   |   | (32 | ) |
| Other                                                |   |   | (16    | )      |   |   | (17 | ) |
| Total deferred tax liabilities                       |   |   | (115   | )      |   |   | (269 | ) |
| Net deferred tax liability after valuation allowance |   | $      | (37    | )      |   | $      | (2 | ) |

| (In millions)                     |   | 2010   |   |   | 2009   |   |
|-----------------------------------|--------|--------|--------|--------|--------|--------|
| Net current deferred taxes        |   |   |   |   |   |   |
| Other current assets              |   | $      | 9      |   |   | $      | 27 |   |
| Other current liabilities         |   |   | (7     | )      |   |   | - |   |
| Net non-current deferred taxes    |   |   |   |   |   |   |   |   |
| Other assets                      |   |   | 21     |   |   |   | 59 |   |
| Other liabilities                 |   |   | (60    | )      |   |   | (62 | ) |
| Liabilities subject to compromise |   |   | -      |   |   |   | (26 | ) |

----

| (In millions) |   | 2010   |   |   | 2009   |   |
|---------------|--------|--------|--------|--------|--------|--------|
|          |   |   |   |   |   |   |
| Federal NOL's |   | $      | 1,050  |   |   | $      | 385 |   |
| State NOL's   |   | $      | 1,313  |   |   | $      | 960 |   |
| Foreign NOL's |   | $      | 304    |   |   | $      | 435 |   |

| (In millions)                                                 |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Balance at January 1                                          |   | $      | 76     |   |   | $      | 85     |   |   | $ | 66 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross increases for tax positions taken during current year   |   |   | 1      |   |   |   | 2      |   |   |   | 16 |   |
| Gross increases for tax positions taken during a prior period |   |   | 1      |   |   |   | 45     |   |   |   | 29 |   |
| Gross decreases for tax positions taken during a prior period |   |   | (9     | )      |   |   | (44    | )      |   |   | (12 | ) |
| Gross decreases due to bankruptcy claims adjustment           |   |   | -      |   |   |   | (5     | )      |   |   | - |   |
| Decreases from the expiration of the statute of limitations   |   |   | -      |   |   |   | (1     | )      |   |   | (7 | ) |
| Settlements / payments                                        |   |   | (29    | )      |   |   | (8     | )      |   |   | (5 | ) |
| Foreign currency impact                                       |   |   | 1      |   |   |   | 2      |   |   |   | (2 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31                                        |   | $      | 41     |   |   | $      | 76     |   |   | $ | 85 |   |

----

----

| (In millions)                                                     |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Net loss                                                          |   | $      | (585   | )      |   | $      | (292   | )      |   | $ | (971 | ) |
| Other comprehensive (loss) income, net of tax:                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency translation adjustments                          |   |   | (26    | )      |   |   | 51     |   |   |   | (191 | ) |
| Unrecognized pension and other post-retirement benefit costs      |   |   | (16    | )      |   |   | (78    | )      |   |   | (186 | ) |
| Change in fair value of derivatives                               |   |   | -      |   |   |   | 1      |   |   |   | (1 | ) |
| Comprehensive loss                                                |   |   | (627   | )      |   |   | (318   | )      |   |   | (1,349 | ) |
| Comprehensive income attributable to the non-controlling interest |   |   | (1     | )      |   |   | (1     | )      |   |   | - |   |
| Comprehensive loss attributable to Chemtura Corporation           |   | $      | (628   | )      |   | $      | (319   | )      |   | $ | (1,349 | ) |

| (In millions)                                                |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Foreign currency translation adjustment                      |   | $      | 88     |   |   | $      | 114 |   |
| Unrecognized pension and other post retirement benefit costs |   |   | (364   | )      |   |   | (348 | ) |
| Accumulated other comprehensive loss                         |   | $      | (276   | )      |   | $      | (234 | ) |

----

----

|                     |   | Year Ended December 31, |   |
|--------------------------|--------|-------------------------|--------|
|                     |   | 2010                    |   |   | 2009 |   |   | 2008 |   |
| Dividend yield           |   |                    | 0.0    | % |   |   | N/A |   |   |   | 2.3 | % |
| Expected volatility      |   |                    | 56.0   | % |   |   | N/A |   |   |   | 46.0 | % |
| Risk-free interest rate  |   |                    | 1.3    | % |   |   | N/A |   |   |   | 3.2 | % |
| Expected life (in years) |   |                    | 5      |   |   |   | N/A |   |   |   | 6 |   |

----

|                    |   |                      |       |   |    |   |   |               |   |   | Weighted  |   |   |               |   |
|-------------------------|--------|---------------------------|------------|--------|---------|--------|--------|--------------------|--------|--------|-----------|--------|--------|--------------------|--------|
|                    |   |                      |       |   |    |   |   |               |   |   | Average   |   |   | Aggregate          |   |
|                    |   |                      |       |   |    |   |   |               |   |   | Remaining |   |   | Intrinsic          |   |
|                    |   | Price Per Share |       |   | Shares  |   |   | Contractual        |   |   | Value     |   |
|                    |   | Range                     |       |   | Average |   |   | (in millions) |   |   | Life      |   |   | (in millions) |   |
| Outstanding at 1/1/08   |   | $                         | 5.85-21.74 |   |    | $      | 10.19  |               |   |   | 11.6      |   |   |               |   |   |   |   |
| Granted                 |   |                      | 1.50-8.71  |   |    |   | 7.97   |               |   |   | 3.1       |   |   |               |   |   |   |   |
| Exercised               |   |                      | 5.85-8.34  |   |    |   | 8.13   |               |   |   | (0.1      | )      |   |               |   |   | $ | - |   |
| Lapsed                  |   |                      | 5.85-21.74 |   |    |   | 11.27  |               |   |   | (2.7      | )      |   |               |   |   |   |   |   |
| Outstanding at 12/31/08 |   |                      | 1.50-21.74 |   |    |   | 9.38   |               |   |   | 11.9      |   |   |               | 5.6    |   |   |   | - |   |
| Lapsed                  |   |                      | 5.85-21.74 |   |    |   | 9.22   |               |   |   | (5.5      | )      |   |               |   |   |   |   |   |   |
| Outstanding at 12/31/09 |   |                      | 1.50-15.89 |   |    |   | 9.52   |               |   |   | 6.4       |   |   |               | 5.7    |   |   |   | - |   |
| Cancelled               |   |                      | 1.50-15.89 |   |    |   | 9.52   |               |   |   | (6.4      | )      |   |               |   |   |   |   |   |   |
| Granted                 |   |                      | 15.50      |   |    |   | 15.50  |               |   |   | 0.8       |   |   |               |   |   |   |   | - |   |
| Outstanding at 12/31/10 |   | $                         | 15.50      |   |    | $      | 15.50  |               |   |   | 0.8       |   |   |               | 9.8    |   |   | $ | - |   |
|                    |   |                      |       |   |    |   |   |               |   |   |      |   |   |               |   |   |   |   |   |   |
| Exercisable at 12/31/08 |   | $                         | 5.85-21.74 |   |    | $      | 9.54   |               |   |   | 8.2       |   |   |               |   |   |   |   |   |   |
| Exercisable at 12/31/09 |   | $                         | 1.50-15.89 |   |    | $      | 10.05  |               |   |   | 4.4       |   |   |               |   |   |   |   |   |   |
| Exercisable at 12/31/10 |   | $                         | 15.50      |   |    | $      | 15.50  |               |   |   | 0.3       |   |   |               | 9.8    |   |   | $ | - |   |

----

|                                      |   |               |   |   | Weighted        |   |   |               |   |
|-------------------------------------------|--------|--------------------|--------|--------|-----------------|--------|--------|--------------------|--------|
|                                 |   |               |   |   | Average         |   |   | Aggregate          |   |
|                                 |   | Shares             |   |   | Grant Date |   |   | Fair Value    |   |
|                                 |   | (in millions) |   |   | Fair Value |   |   | (in millions) |   |
| Unvested RSU awards, January 1, 2008 |   |               | 2.2    |   |            | $      | 9.24   |               |   |   |   |
| Granted                                   |   |               | 1.3    |   |            |   | 8.57   |               |   |   |   |
| Vested                                    |   |               | (0.4   | )      |            |   | 11.55  |               |   | $ | 2 |   |
| Canceled or expired                       |   |               | (1.1   | )      |            |   | 8.90   |               |   |   |   |   |
| Unvested RSU awards, December 31, 2008    |   |               | 2.0    |   |            |   | 8.58   |               |   |   | 3 |   |
| Canceled or expired                       |   |               | (0.8   | )      |            |   | 7.00   |               |   |   |   |   |
| Unvested RSU awards, December 31, 2009    |   |               | 1.2    |   |            |   | 9.51   |               |   |   | 2 |   |
| Cancelled                                 |   |               | (1.2   | )      |            |   | 9.51   |               |   |   |   |   |
| Granted                                   |   |               | 0.4    |   |            |   | 15.50  |               |   |   |   |   |
| Vested                                    |   |               | (0.1   | )      |            |   | 15.50  |               |   |   | 2 |   |
| Unvested RSU awards, December 31, 2010    |   |               | 0.3    |   |            | $      | 15.50  |               |   | $ | 5 |   |

----

----

|                                                                    |   | Defined Benefit Pension Plans |   |   |                     |   |   |                        |   |
|------------------------------------------------------------------------------|--------|----------------------------------------------|--------|--------|--------------------------|--------|--------|-----------------------------|--------|
|                                                                         |   | Qualified                                    |   |   | International and   |   |   | Post-Retirement             |   |
|                                                                         |   | Domestic Plans                          |   |   | Non-Qualified Plans |   |   | Health Care Plans |   |
| (In millions)                                                                |   | 2010                                         |   |   | 2009                     |   |   | 2010                        |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Change in projected benefit obligation:                                      |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |
| Projected benefit obligation at beginning of year                            |   | $                                            | 874    |   |                     | $      | 826    |                        |   | $ | 421 |   |   | $ | 366 |   |   | $ | 150 |   |   | $ | 155 |   |
| Service cost                                                                 |   |                                         | 1      |   |                     |   | 1      |                        |   |   | 3 |   |   |   | 3 |   |   |   | - |   |   |   | 1 |   |
| Interest cost                                                                |   |                                         | 48     |   |                     |   | 50     |                        |   |   | 22 |   |   |   | 22 |   |   |   | 7 |   |   |   | 8 |   |
| Plan participants' contributions                                             |   |                                         | -      |   |                     |   | -      |                        |   |   | 1 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |
| Actuarial (gains) losses                                                     |   |                                         | 76     |   |                     |   | 57     |                        |   |   | 29 |   |   |   | 23 |   |   |   | (12 | ) |   |   | 9 |   |
| Foreign currency exchange rate                                               |   |                                         | -      |   |                     |   | -      |                        |   |   | (14 | ) |   |   | 30 |   |   |   | 1 |   |   |   | 2 |   |
| Benefits paid                                                                |   |                                         | (60    | )      |                     |   | (60    | )                           |   |   | (20 | ) |   |   | (21 | ) |   |   | (15 | ) |   |   | (16 | ) |
| Plan amendments                                                              |   |                                         | -      |   |                     |   | -      |                        |   |   | - |   |   |   | - |   |   |   | (27 | ) |   |   | (9 | ) |
| Business divestitures (a)                                                    |   |                                         | (5     | )      |                     |   | -      |                        |   |   | (22 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Settlements                                                                  |   |                                         | -      |   |                     |   | -      |                        |   |   | - |   |   |   | (3 | ) |   |   | - |   |   |   | - |   |
| Other                                                                        |   |                                         | -      |   |                     |   | -      |                        |   |   | 5 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Projected benefit obligation at end of year                                  |   | $                                            | 934    |   |                     | $      | 874    |                        |   | $ | 425 |   |   | $ | 421 |   |   | $ | 104 |   |   | $ | 150 |   |
|                                                                         |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accumulated benefit obligation at end of year                                |   | $                                            | 933    |   |                     | $      | 873    |                        |   | $ | 412 |   |   | $ | 410 |   |   |   |   |   |   |   |   |   |
|                                                                         |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted-average year-end assumptions used to determine benefit obligations: |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Discount rate                                                                |   |                                         | 5.10   | %      |                     |   | 5.70   | %                           |   |   | 5.25 | % |   |   | 5.56 | % |   |   | 4.78 | % |   |   | 5.44 | % |
| Rate of compensation increase                                                |   |                                         | 4.00   | %      |                     |   | 4.00   | %                           |   |   | 3.35 | % |   |   | 3.20 | % |   |   |   |   |   |   |   |   |
| Health care cost trend rate                                                  |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   | 7.40 | % |   |   | 7.73 | % |

|                                      |   | Defined Benefit Pension Plans |   |   |                     |   |   |                        |   |
|------------------------------------------------|--------|----------------------------------------------|--------|--------|--------------------------|--------|--------|-----------------------------|--------|
|                                           |   | Qualified                                    |   |   | International and   |   |   | Post-Retirement             |   |
|                                           |   | Domestic Plans                          |   |   | Non-Qualified Plans |   |   | Health Care Plans |   |
| (In millions)                                  |   | 2010                                         |   |   | 2009                     |   |   | 2010                        |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Change in plan assets:                         |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |
| Fair value of plan assets at beginning of year |   | $                                            | 625    |   |                     | $      | 630    |                        |   | $ | 230 |   |   | $ | 186 |   |   | $ | - |   |   | $ | - |   |
| Actual return on plan assets                   |   |                                         | 86     |   |                     |   | 55     |                        |   |   | 25 |   |   |   | 30 |   |   |   | - |   |   |   | - |   |
| Foreign currency exchange rate changes         |   |                                         | -      |   |                     |   | -      |                        |   |   | (5 | ) |   |   | 23 |   |   |   | - |   |   |   | - |   |
| Employer contributions                         |   |                                         | 50     |   |                     |   | -      |                        |   |   | 18 |   |   |   | 13 |   |   |   | 15 |   |   |   | 15 |   |
| Plan participants' contributions               |   |                                         | -      |   |                     |   | -      |                        |   |   | 1 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |
| Benefits paid                                  |   |                                         | (60    | )      |                     |   | (60    | )                           |   |   | (20 | ) |   |   | (20 | ) |   |   | (15 | ) |   |   | (15 | ) |
| Business divestitures                          |   |                                         | (1     | )      |                     |   | -      |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Settlements                                    |   |                                         | -      |   |                     |   | -      |                        |   |   | - |   |   |   | (3 | ) |   |   | - |   |   |   | - |   |
| Fair value of plan assets at end of year       |   | $                                            | 700    |   |                     | $      | 625    |                        |   | $ | 249 |   |   | $ | 230 |   |   | $ | - |   |   | $ | - |   |

----

|                                  |   | Fair Value Measurements at December 31, 2010 |   |
|--------------------------------------------|--------|----------------------------------------------------------------------------|--------|
|                                       |   | Defined Benefit Pension Plans                               |   |
|                                       |   | Qualified Domestic Plans                                         |   |   | International and Non-Qualified Plans |   |
| (In millions)                         |   | Total                                                                      |   |   | QuotedPrices inActiveMarkets forIdenticalAssets(Level 1) |   |   | SignificantObservableInputs(Level 2) |   |   | SignificantUnobservableInputs (Level 3) |   |   | Total |   |   | QuotedPrices inActiveMarkets forIdenticalAssets(Level 1) |   |   | SignificantObservableInputs(Level 2) |   |   | SignificantUnobservableInputs (Level 3) |   |
| Equity securities:                         |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S.equities (a)                           |   | $                                                                          | 80     |   |   | $ | 80 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| International equities (a)                 |   |                                                                       | 62     |   |   |   | 62 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Pooled equity (b)                          |   |                                                                       | 247    |   |   |   | 247 |   |   |   | - |   |   |   | - |   |   |   | 154 |   |   |   | 20 |   |   |   | 134 |   |   |   | - |   |
| Preferred stock                            |   |                                                                       | 1      |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Fixed income securities:                   |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. government bonds (c)                  |   |                                                                       | 122    |   |   |   | - |   |   |   | 122 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| International government bonds (c)         |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | - |   |   |   | 2 |   |   |   | - |   |
| U.S. corporate bonds (d)                   |   |                                                                       | 152    |   |   |   | - |   |   |   | 152 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| International corporate bonds (d)          |   |                                                                       | 24     |   |   |   | - |   |   |   | 24 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |
| Pooled fixed income funds (e)              |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 89 |   |   |   | - |   |   |   | 89 |   |   |   | - |   |
| Private equity & other insturments (f) |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | 1 |   |
| Money market funds (g)                     |   |                                                                       | 10     |   |   |   | 10 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash & cash equivalents                |   |                                                                       | 2      |   |   |   | 2 |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | 2 |   |   |   | - |   |   |   | - |   |
|                                       |   | $                                                                          | 700    |   |   | $ | 401 |   |   | $ | 299 |   |   | $ | - |   |   | $ | 249 |   |   | $ | 22 |   |   | $ | 226 |   |   | $ | 1 |   |

|                                  |   | Fair Value Measurements at December 31, 2009 |   |
|--------------------------------------------|--------|----------------------------------------------------------------------------|--------|
|                                       |   | Defined Benefit Pension Plans                               |   |
|                                       |   | Qualified Domestic Plans                                         |   |   | International and Non-Qualified Plans |   |
| (In millions)                         |   | Total                                                                      |   |   | QuotedPrices inActiveMarkets forIdenticalAssets(Level 1) |   |   | SignificantObservableInputs(Level 2) |   |   | SignificantUnobservableInputs (Level 3) |   |   | Total |   |   | QuotedPrices inActiveMarkets forIdenticalAssets(Level 1) |   |   | SignificantObservableInputs(Level 2) |   |   | SignificantUnobservableInputs (Level 3) |   |
| Equity securities:                         |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S.equities (a)                           |   | $                                                                          | 65     |   |   | $ | 65 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| International equities (a)                 |   |                                                                       | 59     |   |   |   | 59 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Pooled equity (b)                          |   |                                                                       | 230    |   |   |   | 190 |   |   |   | 40 |   |   |   | - |   |   |   | 143 |   |   |   | 17 |   |   |   | 126 |   |   |   | - |   |
| Preferred stock                            |   |                                                                       | 1      |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Fixed income securities:                   |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. government bonds (c)                  |   |                                                                       | 98     |   |   |   | - |   |   |   | 98 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| International government bonds (c)         |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |
| U.S. corporate bonds (d)                   |   |                                                                       | 125    |   |   |   | - |   |   |   | 125 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| International corporate bonds (d)          |   |                                                                       | 25     |   |   |   | - |   |   |   | 25 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |
| Pooled fixed income funds (e)              |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 83 |   |   |   | - |   |   |   | 83 |   |   |   | - |   |
| Private equity & other insturments (f) |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | 1 |   |
| Money market funds (g)                     |   |                                                                       | 22     |   |   |   | 22 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash & cash equivalents                |   |                                                                       | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |
|                                       |   | $                                                                          | 625    |   |   | $ | 336 |   |   | $ | 289 |   |   | $ | - |   |   | $ | 230 |   |   | $ | 18 |   |   | $ | 211 |   |   | $ | 1 |   |

|   | (a) | U.S. and international equities are comprised of shares of common stock in various sized U.S. and international companies from a diverse set of industries.  Common stock is valued at the closing price reported on the U.S. and international exchanges where the security is actively traded. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Pooled equity funds include mutual and collective funds that invest primarily in marketable equity securities of various sized companies in a diverse set of industries in various regions of the world.   Shares of publicly traded mutual funds are valued at the closing price reported on the U.S. and international exchanges where the underlying securities are actively traded.  Units of collective funds are valued at the per unit value determined by the fund manager, which is based on market price of the underlying securities. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | U.S. and international government bonds include U.S. treasury, municipal and agency obligations and international government debt.  Such instruments are valued at quoted market prices for those instruments or on institutional bid valuations. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | U.S. and international corporate bonds are from a diverse set of industries and regions.  Such instruments are valued using similar securities in active markets and observable data or broker or dealer quotations. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Pooled fixed income funds are fixed income funds that invest primarily in corporate and government bonds.  Such instruments are valued using similar securities in active markets and observable data or broker or dealer quotations. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Private equity and other instruments include instruments for which there are significant unobservable inputs.  The increase in the fair value of these assets was less than $1 million during 2010 and primarily relates to contributions. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | Money market funds primarily include high-grade money market instruments with short maturities (less than 90 days). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

|                                                                                |   | Defined Benefit Pension Plans |   |   |                     |   |   |                        |   |
|------------------------------------------------------------------------------------------|--------|----------------------------------------------|--------|--------|--------------------------|--------|--------|-----------------------------|--------|
|                                                                                     |   | Qualified                                    |   |   | International and   |   |   | Post-Retirement             |   |
|                                                                                     |   | Domestic Plans                          |   |   | Non-Qualified Plans |   |   | Health Care Plans |   |
| (In millions)                                                                            |   | 2010                                         |   |   | 2009                     |   |   | 2010                        |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Funded status, end of year:                                                              |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |
| Fair value of plan assets                                                                |   | $                                            | 700    |   |                     | $      | 625    |                        |   | $ | 249 |   |   | $ | 230 |   |   | $ | - |   |   | $ | - |   |
| Benefit obligations                                                                      |   |                                         | 934    |   |                     |   | 874    |                        |   |   | 425 |   |   |   | 421 |   |   |   | 104 |   |   |   | 150 |   |
| Net amount recognized                                                                    |   | $                                            | (234   | )      |                     | $      | (249   | )                           |   | $ | (176 | ) |   | $ | (191 | ) |   | $ | (104 | ) |   | $ | (150 | ) |
|                                                                                     |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Amounts recognized in the statement of financial position at the end of year consist of: |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Noncurrent assets                                                                        |   | $                                            | -      |   |                     |   | -      |                        |   |   | 1 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |
| Current liability                                                                        |   |                                         | -      |   |                     |   | -      |                        |   |   | (7 | ) |   |   | (4 | ) |   |   | (10 | ) |   |   | (1 | ) |
| Noncurrent liability                                                                     |   |                                         | (234   | )      |                     |   | -      |                        |   |   | (170 | ) |   |   | (135 | ) |   |   | (94 | ) |   |   | (16 | ) |
| Liabilities subject to compromise                                                        |   |                                         | -      |   |                     |   | (244   | )                           |   |   | - |   |   |   | (29 | ) |   |   | - |   |   |   | (133 | ) |
| Liabilities of discontinued operations                                                   |   |                                         | -      |   |                     |   | (5     | )                           |   |   | - |   |   |   | (24 | ) |   |   | - |   |   |   | - |   |
| Net amount recognized                                                                    |   | $                                            | (234   | )      |                     | $      | (249   | )                           |   | $ | (176 | ) |   | $ | (191 | ) |   | $ | (104 | ) |   | $ | (150 | ) |
|                                                                                     |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Amounts recognized in accumulated other comprehensive loss consist of:                   |   |                                         |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net actuarial loss/(gain)                                                                |   | $                                            | 382    |   |                     | $      | 343    |                        |   | $ | 81 |   |   | $ | 63 |   |   | $ | 35 |   |   | $ | 50 |   |
| Prior service cost/(credit)                                                              |   |                                         | 1      |   |                     |   | 1      |                        |   |   | - |   |   |   | - |   |   |   | (64 | ) |   |   | (42 | ) |
|                                                                                     |   | $                                            | 383    |   |                     | $      | 344    |                        |   | $ | 81 |   |   | $ | 63 |   |   | $ | (29 | ) |   | $ | 8 |   |

|                 |   |      |   |   | International |   |   | Post-       |   |
|----------------------|--------|-----------|--------|--------|---------------|--------|--------|-------------|--------|
|                 |   | Qualified |   |   | and Non-      |   |   | Retirement  |   |
|                 |   | Domestic  |   |   | Qualified     |   |   | Health Care |   |
| (In millions)        |   | Plans     |   |   | Plans         |   |   | Plans       |   |
| Actuarial loss       |   | $         | 12     |   |          | $      | 2      |        |   | $ | 2 |   |
| Prior service credit |   |      | -      |   |          |   | -      |        |   |   | (6 | ) |
| Total                |   | $         | 12     |   |          | $      | 2      |        |   | $ | (4 | ) |

----

| (In millions)                                                         |   | 2010   |   |   | 2009   |   |
|-----------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Projected benefit obligation in excess of plan assets at end of year: |   |   |   |   |   |   |
| Projected benefit obligation                                          |   | $      | 1,452  |   |   | $      | 1,436 |   |
| Fair value of plan assets                                             |   |   | 937    |   |   |   | 845 |   |

| (In millions)                                                           |   | 2010   |   |   | 2009   |   |
|-------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Accumulated benefit obligation in excess of plan assets at end of year: |   |   |   |   |   |   |
| Projected benefit obligation                                            |   | $      | 1,347  |   |   | $      | 1,286 |   |
| Accumulated benefit obligation                                          |   |   | 1,334  |   |   |   | 1,274 |   |
| Fair value of plan assets                                               |   |   | 936    |   |   |   | 845 |   |

|                             |   | Defined Benefit Pension Plans |   |   |                                |   |
|----------------------------------|--------|-------------------------------|--------|--------|-------------------------------------|--------|
| (in millions)                    |   | QualifiedDomestic Plans       |   |   | International andNon-QualifiedPlans |   |   | Post-RetirementHealth CarePlans |   |
| Expected Employer Contributions: |   |                          |   |   |                                |   |   |   |   |
| 2011                             |   | $                             | 18     |   |                                | $      | 15 |   |   | $ | 11 |   |
|                             |   |                          |   |   |                                |   |   |   |   |   |   |   |
| Expected Benefit Payments (a):   |   |                          |   |   |                                |   |   |   |   |   |   |   |
| 2011                             |   |                          | 61     |   |                                |   | 18 |   |   |   | 11 |   |
| 2012                             |   |                          | 61     |   |                                |   | 20 |   |   |   | 10 |   |
| 2013                             |   |                          | 61     |   |                                |   | 21 |   |   |   | 9 |   |
| 2014                             |   |                          | 61     |   |                                |   | 22 |   |   |   | 9 |   |
| 2015                             |   |                          | 61     |   |                                |   | 22 |   |   |   | 8 |   |
| 2016-2020                        |   |                          | 310    |   |                                |   | 127 |   |   |   | 36 |   |

| (a) | The expected benefit payments are based on the same assumptions used to measure our benefit obligation at the end of the year and include benefits attributable to estimated future employee service. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                         |   | Defined Benefit Pension Plans |   |   |                |   |   |              |   |   |   |   |
|---------------------------------------------------|--------|-------------------------------|--------|--------|---------------------|--------|--------|-------------------|--------|--------|--------|--------|
|                                              |   | Qualified                     |   |   | International and   |   |   | Post-Retirement   |   |
|                                              |   | Domestic Plans                |   |   | Non-Qualified Plans |   |   | Health Care Plans |   |
| (In millions)                                     |   | 2010                          |   |   | 2009                |   |   | 2008              |   |   | 2010   |   |   | 2009 |   |   | 2008 |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |
| Components of net periodic benefit cost (credit): |   |                          |   |   |                |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                              |   |                          |   |   |                |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Service cost                                      |   | $                             | 1      |   |                | $      | -      |              |   | $      | 1      |   |   | $ | 3 |   |   | $ | 3 |   |   | $ | 4 |   |   | $ | - |   |   | $ | - |   |   | $ | 1 |   |
| Interest cost                                     |   |                          | 48     |   |                |   | 50     |              |   |   | 49     |   |   |   | 22 |   |   |   | 22 |   |   |   | 25 |   |   |   | 7 |   |   |   | 9 |   |   |   | 9 |   |
| Expected return on plan assets                    |   |                          | (55    | )      |                |   | (56    | )                 |   |   | (63    | )      |   |   | (18 | ) |   |   | (18 | ) |   |   | (21 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Amortization of prior service cost                |   |                          | -      |   |                |   | -      |              |   |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (5 | ) |   |   | (6 | ) |   |   | - |   |
| Recognized actuarial losses                       |   |                          | 7      |   |                |   | 5      |              |   |   | 7      |   |   |   | 1 |   |   |   | 1 |   |   |   | 1 |   |   |   | 3 |   |   |   | 2 |   |   |   | 2 |   |
| Curtailment gain recognized                       |   |                          | -      |   |                |   | -      |              |   |   | -      |   |   |   | - |   |   |   | - |   |   |   | (6 | ) |   |   | - |   |   |   | - |   |   |   | (3 | ) |
| Settlement loss recognized                        |   |                          | -      |   |                |   | -      |              |   |   | -      |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Other                                             |   |                          | -      |   |                |   | -      |              |   |   | -      |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |
| Net periodic benefit cost (credit)                |   | $                             | 1      |   |                | $      | (1     | )                 |   | $      | (6     | )      |   | $ | 8 |   |   | $ | 8 |   |   | $ | 6 |   |   | $ | 5 |   |   | $ | 6 |   |   | $ | 9 |   |

|                                                     |   | Qualified           |   |   | International and   |   |   | Post-Retirement             |   |
|----------------------------------------------------------|--------|---------------------|--------|--------|--------------------------|--------|--------|-----------------------------|--------|
|                                                     |   | Domestic Plans |   |   | Non-Qualified Plans |   |   | Health Care Plans |   |
|                                                     |   | 2010                |   |   | 2009                     |   |   | 2008                        |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |
| Weighted-average assumptions used to determine net cost: |   |                |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   |                |   |   |                     |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Discount rate                                            |   |                | 5.70   | %      |                     |   | 6.00   | %                           |   |   | 6.00 | % |   |   | 5.66 | % |   |   | 5.90 | % |   |   | 5.46 | % |   |   | 5.49 | % |   |   | 6.04 | % |   |   | 5.87 | % |
| Expected return on plan assets                           |   |                | 8.00   | %      |                     |   | 7.75   | %                           |   |   | 8.50 | % |   |   | 7.60 | % |   |   | 7.50 | % |   |   | 7.50 | % |   |   |   |   |   |   |   |   |   |   |   |   |
| Rate of compensation increase                            |   |                | 4.00   | %      |                     |   | 4.00   | %                           |   |   | 4.00 | % |   |   | 2.96 | % |   |   | 3.60 | % |   |   | 3.22 | % |   |   |   |   |   |   |   |   |   |   |   |   |

----

|          |   | 2010     |   |   | 2009   |   |
|---------------|--------|----------|--------|--------|--------|--------|
|          |   | Carrying |   |   | Fair   |   |   | Carrying |   |   | Fair |   |
|          |   | Amount   |   |   | Value  |   |   | Amount |   |   | Value |   |
| (In millions) |   |     |   |   |   |   |   |   |   |   |   |   |
| Total debt    |   | $        | 751    |   |   | $      | 786 |   |   | $ | 1,430 |   |   | $ | 1,459 |   |

----

|   | · | Level 1 – Quoted prices in active markets for identical assets and liabilities. |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | Level 2 – Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market date. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (In millions)                                                       |   | 2010   |   |   | 2009   |   |
|---------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Asset retirement obligation balance at beginning of year            |   | $      | 26     |   |   | $      | 23 |   |
| Revisions (a)                                                       |   |   | (3     | )      |   |   | - |   |
| Accretion expense – cost of goods sold (b)                    |   |   | 2      |   |   |   | 4 |   |
| Accretion expense – loss from discontinued operations (c)     |   |   | (1     | )      |   |   | - |   |
| Payments                                                            |   |   | (1     | )      |   |   | (2 | ) |
| Foreign currency translation                                        |   |   | -      |   |   |   | 1 |   |
| Asset retirement obligation balance at end of year                  |   | $      | 23     |   |   | $      | 26 |   |
|                                                                |   |   |   |   |   |   |   |   |
| Net book value of asset retirement obligation assets at end of year |   | $      | 1      |   |   | $      | 2 |   |
|                                                                |   |   |   |   |   |   |   |   |
| Depreciation expense                                                |   | $      | -      |   |   | $      | 1 |   |

| (a) | Includes the reversal of asset retirement obligations related to the sale of our natural sodium sulfonates and oxidized petroletum product lines in July 2010. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The decrease in accretion expense in 2010 as compared to 2009 is primarily due to the revision of costs related to various reorganization initiatives implemented in 2009 and 2010, which resulted in the acceleration of certain costs in 2009 and the reduction of certain costs in 2010. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Includes the reversal of asset retirement obligations related to the sale of our PVC additives business in April 2010. |
|-----|------------------------------------------------------------------------------------------------------------------------|

----

----

----

|                                  |   |                  |   |   |               |   |   |                     |   |   | Civil Case                     |   |
|---------------------------------------|--------|-----------------------|--------|--------|--------------------|--------|--------|--------------------------|--------|--------|--------------------------------|--------|
|                                  |   | Governmental Reserves |   |   | Reserves           |   |
| (In millions)                         |   | U.S. DOJFines         |   |   | CanadaFederalFines |   |   | Total U.Sand CanadaFines |   |   | U.S. CivilandSecuritiesMatters |   |
| Balance January 1, 2008               |   | $                     | 29     |   |               | $      | 5      |                     |   | $      | 34                             |   |   | $ | 43 |   |
| Antitrust costs, excluding legal fees |   |                  | -      |   |               |   | -      |                     |   |   | -                              |   |   |   | 7 |   |
| Payments                              |   |                  | (14    | )      |               |   | (3     | )                        |   |   | (17                            | )      |   |   | (20 | ) |
| Accretion - Interest                  |   |                  | 1      |   |               |   | -      |                     |   |   | 1                              |   |   |   | - |   |
| Balance December 31, 2008             |   |                  | 16     |   |               |   | 2      |                     |   |   | 18                             |   |   |   | 30 |   |
| Antitrust costs, excluding legal fees |   |                  | (2     | )      |               |   | -      |                     |   |   | (2                             | )      |   |   | 6 |   |
| Payments                              |   |                  | (5     | )      |               |   | (1     | )                        |   |   | (6                             | )      |   |   | - |   |
| Balance December 31, 2009             |   |                  | 9      |   |               |   | 1      |                     |   |   | 10                             |   |   |   | 36 |   |
| Antitrust costs, excluding legal fees |   |                  | 2      |   |               |   | 1      |                     |   |   | 3                              |   |   |   | (21 | ) |
| Payments                              |   |                  | (11    | )      |               |   | (2     | )                        |   |   | (13                            | )      |   |   | (14 | ) |
| Balance December 31, 2010             |   | $                     | -      |   |               | $      | -      |                     |   | $      | -                              |   |   | $ | 1 |   |

----

----

----

----

----

| Net Sales                       |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Consumer Products               |   | $      | 458    |   |   | $      | 457    |   |   | $ | 516 |   |
| Industrial Performance Products |   |   | 1,223  |   |   |   | 999    |   |   |   | 1,465 |   |
| Chemtura AgroSolutionsTM   |   |   | 351    |   |   |   | 332    |   |   |   | 394 |   |
| Industrial Engineered Products  |   |   | 728    |   |   |   | 512    |   |   |   | 779 |   |
| Net Sales                       |   | $      | 2,760  |   |   | $      | 2,300  |   |   | $ | 3,154 |   |

| Operating  Profit (Loss)                        |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-----------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Consumer Products                                         |   | $      | 67     |   |   | $      | 63     |   |   | $ | 50 |   |
| Industrial Performance Products                           |   |   | 119    |   |   |   | 91     |   |   |   | 105 |   |
| Chemtura AgroSolutionsTM                             |   |   | 21     |   |   |   | 42     |   |   |   | 78 |   |
| Industrial Engineered Products                            |   |   | 25     |   |   |   | 3      |   |   |   | 43 |   |
| Segment Operating Profit                                  |   |   | 232    |   |   |   | 199    |   |   |   | 276 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| General corporate expense                                 |   |   | (65    | )      |   |   | (68    | )      |   |   | (69 | ) |
| Amortization                                              |   |   | (37    | )      |   |   | (38    | )      |   |   | (44 | ) |
| Change in useful life of property, plant and equipment    |   |   | (1     | )      |   |   | -      |   |   |   | (32 | ) |
| Facility closures, severance and related costs            |   |   | (1     | )      |   |   | (3     | )      |   |   | (23 | ) |
| Antitrust costs                                           |   |   | -      |   |   |   | (10    | )      |   |   | (12 | ) |
| Gain (loss) on sale of business                           |   |   | 2      |   |   |   | -      |   |   |   | (25 | ) |
| Impairment charges                                        |   |   | (57    | )      |   |   | (39    | )      |   |   | (986 | ) |
| Changes in estimates related to expected allowable claims |   |   | (35    | )      |   |   | (73    | )      |   |   | - |   |
| Total Operating Profit (Loss)                             |   |   | 38     |   |   |   | (32    | )      |   |   | (915 | ) |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                          |   |   | (191   | )      |   |   | (70    | )      |   |   | (78 | ) |
| Loss on early extinguishment of debt                      |   |   | (88    | )      |   |   | -      |   |   |   | - |   |
| Other (expense) income, net                               |   |   | (6     | )      |   |   | (17    | )      |   |   | 9 |   |
| Reorganization items, net                                 |   |   | (303   | )      |   |   | (97    | )      |   |   | - |   |
| Loss from continuing operations before income taxes       |   | $      | (550   | )      |   | $      | (216   | )      |   | $ | (984 | ) |

| Depreciation and Amortization   |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Consumer Products               |   | $      | 11     |   |   | $      | 13     |   |   | $ | 11 |   |
| Industrial Performance Products |   |   | 35     |   |   |   | 41     |   |   |   | 44 |   |
| Chemtura AgroSolutionsTM   |   |   | 9      |   |   |   | 8      |   |   |   | 7 |   |
| Industrial Engineered Products  |   |   | 79     |   |   |   | 57     |   |   |   | 76 |   |
|                            |   |   | 134    |   |   |   | 119    |   |   |   | 138 |   |
| Corporate                       |   |   | 41     |   |   |   | 43     |   |   |   | 83 |   |
| Total continuing operations     |   |   | 175    |   |   |   | 162    |   |   |   | 221 |   |
| Discontinued operations         |   |   | -      |   |   |   | 11     |   |   |   | 16 |   |
|                       |   | $      | 175    |   |   | $      | 173    |   |   | $ | 237 |   |

----

| Equity Income (Loss)            |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Industrial Performance Products |   | $      | 2      |   |   | $      | 1      |   |   | $ | 2 |   |
| Industrial Engineered Products  |   |   | 2      |   |   |   | (1     | )      |   |   | 2 |   |
|                            |   | $      | 4      |   |   | $      | -      |   |   | $ | 4 |   |

| Segment Assets                  |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Consumer Products               |   | $      | 259    |   |   | $      | 272    |   |   | $ | 270 |   |
| Industrial Performance Products |   |   | 778    |   |   |   | 717    |   |   |   | 744 |   |
| Chemtura AgroSolutionsTM   |   |   | 343    |   |   |   | 311    |   |   |   | 229 |   |
| Industrial Engineered Products  |   |   | 532    |   |   |   | 531    |   |   |   | 603 |   |
|                            |   |   | 1,912  |   |   |   | 1,831  |   |   |   | 1,846 |   |
| Discontinued operations         |   |   | -      |   |   |   | 85     |   |   |   | 147 |   |
| Corporate                       |   |   | 1,001  |   |   |   | 1,202  |   |   |   | 1,064 |   |
|                            |   | $      | 2,913  |   |   | $      | 3,118  |   |   | $ | 3,057 |   |

| Capital Expenditures            |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Consumer Products               |   | $      | 10     |   |   | $      | 4      |   |   | $ | 6 |   |
| Industrial Performance Products |   |   | 37     |   |   |   | 16     |   |   |   | 27 |   |
| Chemtura AgroSolutionsTM   |   |   | 11     |   |   |   | 8      |   |   |   | 4 |   |
| Industrial Engineered Products  |   |   | 58     |   |   |   | 16     |   |   |   | 46 |   |
|                            |   |   | 116    |   |   |   | 44     |   |   |   | 83 |   |
| Corporate                       |   |   | 8      |   |   |   | 9      |   |   |   | 33 |   |
| Total continuing operations     |   |   | 124    |   |   |   | 53     |   |   |   | 116 |   |
| Discontinued operations         |   |   | -      |   |   |   | 3      |   |   |   | 5 |   |
|                            |   | $      | 124    |   |   | $      | 56     |   |   | $ | 121 |   |

| Equity Method Investments       |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Industrial Performance Products |   | $      | 21     |   |   | $      | 19     |   |   | $ | 21 |   |
| Chemtura AgroSolutionsTM   |   |   | 2      |   |   |   | 2      |   |   |   | 2 |   |
| Industrial Engineered Products  |   |   | 9      |   |   |   | 8      |   |   |   | 14 |   |
|                            |   | $      | 32     |   |   | $      | 29     |   |   | $ | 37 |   |

| Information by Geographic Area            |   |   |   |   |   |   |   |   |   |
|-------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| (In millions)                             |   |   |   |   |   |   |   |   |   |
| Net sales (based on location of customer) |   | 2010   |   |   | 2009   |   |   | 2008   |   |
| United States                             |   | $      | 1,236  |   |   | $      | 1,088  |   |   | $ | 1,436 |   |
| Canada                                    |   |   | 49     |   |   |   | 42     |   |   |   | 69 |   |
| Latin America                             |   |   | 143    |   |   |   | 126    |   |   |   | 182 |   |
| Europe/Africa                             |   |   | 813    |   |   |   | 703    |   |   |   | 984 |   |
| Asia/Pacific                              |   |   | 519    |   |   |   | 341    |   |   |   | 483 |   |
|                                      |   | $      | 2,760  |   |   | $      | 2,300  |   |   | $ | 3,154 |   |

| Property, Plant and Equipment |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| United States                 |   | $      | 391    |   |   | $      | 422    |   |   | $ | 479 |   |
| Canada                        |   |   | 68     |   |   |   | 59     |   |   |   | 53 |   |
| Latin America                 |   |   | 18     |   |   |   | 16     |   |   |   | 12 |   |
| Europe/Africa                 |   |   | 203    |   |   |   | 219    |   |   |   | 233 |   |
| Asia/Pacific                  |   |   | 36     |   |   |   | 34     |   |   |   | 28 |   |
|                          |   | $      | 716    |   |   | $      | 750    |   |   | $ | 805 |   |

----

|                                                         |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|-------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                              |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                              |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net sales                                                         |   | $            | 2,760  |   |         | $      | (1,637 | )       |   | $      | 1,478        |   |   | $            | 721    |   |   | $ | 2,198 |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Cost of products sold                                             |   |         | 2,103  |   |         |   | (1,637 | )       |   |   | 1,239        |   |   |         | 583    |   |   |   | 1,918 |   |
| Selling, general and administrative                               |   |         | 315    |   |         |   | -      |    |   |   | 137          |   |   |         | 51     |   |   |   | 127 |   |
| Depreciation and amortization                                     |   |         | 175    |   |         |   | -      |    |   |   | 37           |   |   |         | 88     |   |   |   | 50 |   |
| Research and development                                          |   |         | 42     |   |         |   | -      |    |   |   | 17           |   |   |         | 7      |   |   |   | 18 |   |
| Facility closures, severance and related costs                    |   |         | 1      |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 1 |   |
| Gain on sale of business                                          |   |         | (2     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (2 | ) |
| Impairment charges                                                |   |         | 57     |   |         |   | -      |    |   |   | 54           |   |   |         | -      |   |   |   | 3 |   |
| Changes in estimates related to expected allowable claims         |   |         | 35     |   |         |   | -      |    |   |   | 15           |   |   |         | (1     | ) |   |   | 21 |   |
| Equity income                                                     |   |         | (4     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (4 | ) |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Operating profit (loss)                                           |   |         | 38     |   |         |   | -      |    |   |   | (21          | )      |   |         | (7     | ) |   |   | 66 |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Interest expense                                                  |   |         | (191   | )      |         |   | -      |    |   |   | (165         | )      |   |         | (35    | ) |   |   | 9 |   |
| Loss on early extinguishment of debt                              |   |         | (88    | )      |         |   | -      |    |   |   | (88          | )      |   |         | -      |   |   |   | - |   |
| Other (expense) income, net                                       |   |         | (6     | )      |         |   | -      |    |   |   | (41          | )      |   |         | 37     |   |   |   | (2 | ) |
| Reorganization items, net                                         |   |         | (303   | )      |         |   | -      |    |   |   | (300         | )      |   |         | (2     | ) |   |   | (1 | ) |
| Equity in net earnings of subsidiaries from continuing operations |   |         | -      |   |         |   | (62    | )       |   |   | 61           |   |   |         | 1      |   |   |   | - |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| (Loss) earnings from continuing operations before income taxes    |   |         | (550   | )      |         |   | (62    | )       |   |   | (554         | )      |   |         | (6     | ) |   |   | 72 |   |
| Income tax provision                                              |   |         | (22    | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (22 | ) |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| (Loss) earnings from continuing operations                        |   |         | (572   | )      |         |   | (62    | )       |   |   | (554         | )      |   |         | (6     | ) |   |   | 50 |   |
| Loss from discontinued operations, net of tax                     |   |         | (1     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (1 | ) |
| (Loss) gain on sale of discontinued operations, net of tax        |   |         | (12    | )      |         |   | -      |    |   |   | (32          | )      |   |         | -      |   |   |   | 20 |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net (loss) earnings                                               |   |         | (585   | )      |         |   | (62    | )       |   |   | (586         | )      |   |         | (6     | ) |   |   | 69 |   |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Less: net earnings attributable to non-controlling interests      |   |         | (1     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (1 | ) |
|                                                              |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net (loss) earnings attributable to Chemtura                      |   | $            | (586   | )      |         | $      | (62    | )       |   | $      | (586         | )      |   | $            | (6     | ) |   | $ | 68 |   |

----

|                                  |   |         |   |   |         |   |    |    |   |   |         |   |   | Non-         |   |
|--------------------------------------------|--------|--------------|--------|--------|--------------|--------|---------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                       |   |         |   |   |         |   |    | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                       |   | Consolidated |   |   | Eliminations |   |    | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
| ASSETS                                     |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |
| Current assets                             |   | $            | 1,421  |   |         | $      | -       |    |   | $      | 450          |   |   | $            | 201    |   |   | $ | 770 |   |
| Intercompany receivables                   |   |         | -      |   |         |   | (7,839  | )       |   |   | 2,153        |   |   |         | 2,186  |   |   |   | 3,500 |   |
| Investment in subsidiaries                 |   |         | -      |   |         |   | (12,627 | )       |   |   | 2,661        |   |   |         | 1,254  |   |   |   | 8,712 |   |
| Property, plant and equipment              |   |         | 716    |   |         |   | -       |    |   |   | 162          |   |   |         | 230    |   |   |   | 324 |   |
| Goodwill                                   |   |         | 175    |   |         |   | -       |    |   |   | 93           |   |   |         | 3      |   |   |   | 79 |   |
| Other assets                               |   |         | 601    |   |         |   | -       |    |   |   | 134          |   |   |         | 195    |   |   |   | 272 |   |
| Total assets                               |   | $            | 2,913  |   |         | $      | (20,466 | )       |   | $      | 5,653        |   |   | $            | 4,069  |   |   | $ | 13,657 |   |
|                                       |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY       |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Current liabilities                        |   | $            | 489    |   |         | $      | -       |    |   | $      | 244          |   |   | $            | 67     |   |   | $ | 178 |   |
| Intercompany payables                      |   |         | -      |   |         |   | (7,839  | )       |   |   | 3,354        |   |   |         | 1,988  |   |   |   | 2,497 |   |
| Long-term debt                             |   |         | 748    |   |         |   | -       |    |   |   | 746          |   |   |         | -      |   |   |   | 2 |   |
| Other long-term liabilities                |   |         | 705    |   |         |   | -       |    |   |   | 338          |   |   |         | 61     |   |   |   | 306 |   |
| Total liabilities                          |   |         | 1,942  |   |         |   | (7,839  | )       |   |   | 4,682        |   |   |         | 2,116  |   |   |   | 2,983 |   |
| Stockholders' equity                       |   |         | 971    |   |         |   | (12,627 | )       |   |   | 971          |   |   |         | 1,953  |   |   |   | 10,674 |   |
| Total liabilities and stockholders' equity |   | $            | 2,913  |   |         | $      | (20,466 | )       |   | $      | 5,653        |   |   | $            | 4,069  |   |   | $ | 13,657 |   |

----

|                                                                                  |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|--------------------------------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                                                       |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                                                       |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
| Increase (decrease) to cash                                                                |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net (loss ) earnings                                                                       |   | $            | (586   | )      |         | $      | (62    | )       |   | $      | (586         | )      |   | $            | (6     | ) |   | $ | 68 |   |
| Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operations: |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Gain on sale of business                                                                   |   |         | (2     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (2 | ) |
| Loss (gain) on sale of discontinued operations                                             |   |         | 12     |   |         |   | -      |    |   |   | 32           |   |   |         | -      |   |   |   | (20 | ) |
| Impairment charges                                                                         |   |         | 60     |   |         |   | -      |    |   |   | 55           |   |   |         | -      |   |   |   | 5 |   |
| Loss on early extinguishment of debt                                                       |   |         | 88     |   |         |   | -      |    |   |   | 88           |   |   |         | -      |   |   |   | - |   |
| Depreciation and amortization                                                              |   |         | 175    |   |         |   | -      |    |   |   | 37           |   |   |         | 88     |   |   |   | 50 |   |
| Stock-based compensation expense                                                           |   |         | 10     |   |         |   | -      |    |   |   | 10           |   |   |         | -      |   |   |   | - |   |
| Reorganization items, net                                                                  |   |         | 186    |   |         |   | -      |    |   |   | 186          |   |   |         | -      |   |   |   | - |   |
| Changes in estimates related to expected allowable claims                                  |   |         | 35     |   |         |   | -      |    |   |   | 15           |   |   |         | (1     | ) |   |   | 21 |   |
| Non-cash contractual post-petition interest expense                                        |   |         | 113    |   |         |   | -      |    |   |   | 113          |   |   |         | -      |   |   |   | - |   |
| Equity income                                                                              |   |         | (4     | )      |         |   | 62     |    |   |   | (61          | )      |   |         | (1     | ) |   |   | (4 | ) |
| Changes in assets and liabilities, net                                                     |   |         | (291   | )      |         |   | -      |    |   |   | (241         | )      |   |         | 13     |   |   |   | (63 | ) |
| Net cash (used in) provided by operations                                                  |   |         | (204   | )      |         |   | -      |    |   |   | (352         | )      |   |         | 93     |   |   |   | 55 |   |
|                                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net proceeds from divestments                                                              |   |         | 43     |   |         |   | -      |    |   |   | 43           |   |   |         | -      |   |   |   | - |   |
| Capital expenditures                                                                       |   |         | (124   | )      |         |   | -      |    |   |   | (27          | )      |   |         | (49    | ) |   |   | (48 | ) |
| Net cash provided by (used in) investing activities                                        |   |         | (81    | )      |         |   | -      |    |   |   | 16           |   |   |         | (49    | ) |   |   | (48 | ) |
|                                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Proceeds from Senior Notes                                                                 |   |         | 452    |   |         |   | -      |    |   |   | 452          |   |   |         | -      |   |   |   | - |   |
| Proceeds fromTerm Loan                                                                     |   |         | 292    |   |         |   | -      |    |   |   | 292          |   |   |         | -      |   |   |   | - |   |
| Proceeds from Amended DIP Credit Facility                                                  |   |         | 299    |   |         |   | -      |    |   |   | 299          |   |   |         | -      |   |   |   | - |   |
| Payments on Amended DIP Credit Facility                                                    |   |         | (300   | )      |         |   | -      |    |   |   | (300         | )      |   |         | -      |   |   |   | - |   |
| Payments on DIP Credit Facility, net                                                       |   |         | (250   | )      |         |   | -      |    |   |   | (250         | )      |   |         | -      |   |   |   | - |   |
| Repayments of 6.875% Notes due 2016                                                        |   |         | (75    | )      |         |   | -      |    |   |   | (75          | )      |   |         | -      |   |   |   | - |   |
| Repayments of 6.875% Debentures due 2026                                                   |   |         | (19    | )      |         |   | -      |    |   |   | (19          | )      |   |         | -      |   |   |   | - |   |
| Repayments of 7% Notes due 2009                                                            |   |         | (44    | )      |         |   | -      |    |   |   | -            |   |   |         | (44    | ) |   |   | - |   |
| Payments on 2007 Credit Facility, net                                                      |   |         | (54    | )      |         |   | -      |    |   |   | (54          | )      |   |         | -      |   |   |   | - |   |
| Payments for debt issuance and refinancing costs                                           |   |         | (40    | )      |         |   | -      |    |   |   | (40          | )      |   |         | -      |   |   |   | - |   |
| Payments for make-whole and no-call premiums                                               |   |         | (10    | )      |         |   | -      |    |   |   | (10          | )      |   |         | -      |   |   |   | - |   |
| Net cash provided by (used in) financing activities                                        |   |         | 251    |   |         |   | -      |    |   |   | 295          |   |   |         | (44    | ) |   |   | - |   |
|                                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH                                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Effect of exchange rates on cash and cash equivalents                                      |   |         | (1     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (1 | ) |
| Change in cash and cash equivalents                                                        |   |         | (35    | )      |         |   | -      |    |   |   | (41          | )      |   |         | -      |   |   |   | 6 |   |
| Cash and cash equivalents at beginning of period                                           |   |         | 236    |   |         |   | -      |    |   |   | 82           |   |   |         | -      |   |   |   | 154 |   |
| Cash and cash equivalents at end of period                                                 |   | $            | 201    |   |         | $      | -      |    |   | $      | 41           |   |   | $            | -      |   |   | $ | 160 |   |

----

|                                                          |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|--------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                               |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                               |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net sales                                                          |   | $            | 2,300  |   |         | $      | (1,387 | )       |   | $      | 1,161        |   |   | $            | 660    |   |   | $ | 1,866 |   |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Cost of products sold                                              |   |         | 1,721  |   |         |   | (1,387 | )       |   |   | 947          |   |   |         | 522    |   |   |   | 1,639 |   |
| Selling, general and administrative                                |   |         | 289    |   |         |   | -      |    |   |   | 124          |   |   |         | 57     |   |   |   | 108 |   |
| Depreciation and amortization                                      |   |         | 162    |   |         |   | -      |    |   |   | 39           |   |   |         | 65     |   |   |   | 58 |   |
| Research and development                                           |   |         | 35     |   |         |   | -      |    |   |   | 13           |   |   |         | 7      |   |   |   | 15 |   |
| Facility closures, severance and related costs                     |   |         | 3      |   |         |   | -      |    |   |   | (1           | )      |   |         | 1      |   |   |   | 3 |   |
| Antitrust costs                                                    |   |         | 10     |   |         |   | -      |    |   |   | 9            |   |   |         | -      |   |   |   | 1 |   |
| Impairment charges                                                 |   |         | 39     |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 39 |   |
| Changes in estimates related to expected allowable claims          |   |         | 73     |   |         |   | -      |    |   |   | 71           |   |   |         | 2      |   |   |   | - |   |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Operating (loss) profit                                            |   |         | (32    | )      |         |   | -      |    |   |   | (41          | )      |   |         | 6      |   |   |   | 3 |   |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Interest expense                                                   |   |         | (70    | )      |         |   | -      |    |   |   | (76          | )      |   |         | (2     | ) |   |   | 8 |   |
| Other (expense) income, net                                        |   |         | (17    | )      |         |   | -      |    |   |   | (20          | )      |   |         | 1      |   |   |   | 2 |   |
| Reorganization items, net                                          |   |         | (97    | )      |         |   | -      |    |   |   | (95          | )      |   |         | (1     | ) |   |   | (1 | ) |
| Equity in net loss of subsidiaries from continuing operations |   |         | -      |   |         |   | 38     |    |   |   | (38          | )      |   |         | -      |   |   |   | - |   |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| (Loss) earnings from continuing operations before income taxes     |   |         | (216   | )      |         |   | 38     |    |   |   | (270         | )      |   |         | 4      |   |   |   | 12 |   |
| Income tax (provision) benefit                                     |   |         | (10    | )      |         |   | -      |    |   |   | 26           |   |   |         | (1     | ) |   |   | (35 | ) |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| (Loss) earnings from continuing operations                         |   |         | (226   | )      |         |   | 38     |    |   |   | (244         | )      |   |         | 3      |   |   |   | (23 | ) |
| Loss from discontinued operations, net of tax                      |   |         | (63    | )      |         |   | -      |    |   |   | (49          | )      |   |         | (1     | ) |   |   | (13 | ) |
| Loss on sale of discontinued operations, net of tax                |   |         | (3     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (3 | ) |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net (loss) earnings                                                |   |         | (292   | )      |         |   | 38     |    |   |   | (293         | )      |   |         | 2      |   |   |   | (39 | ) |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Less: net earnings attributable to non-controlling interests       |   |         | (1     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (1 | ) |
|                                                               |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net (loss) earnings attributable to Chemtura                       |   | $            | (293   | )      |         | $      | 38     |    |   | $      | (293         | )      |   | $            | 2      |   |   | $ | (40 | ) |

|                                  |   |         |   |   |         |   |    |    |   |   |         |   |   | Non-         |   |
|--------------------------------------------|--------|--------------|--------|--------|--------------|--------|---------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                       |   |         |   |   |         |   |    | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                       |   | Consolidated |   |   | Eliminations |   |    | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
| ASSETS                                     |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |
| Current assets                             |   | $            | 1,479  |   |         | $      | -       |    |   | $      | 486          |   |   | $            | 220    |   |   | $ | 773 |   |
| Intercompany receivables                   |   |         | -      |   |         |   | (6,749  | )       |   |   | 1,053        |   |   |         | 1,726  |   |   |   | 3,970 |   |
| Investment in subsidiaries                 |   |         | -      |   |         |   | (12,694 | )       |   |   | 2,849        |   |   |         | 1,270  |   |   |   | 8,575 |   |
| Property, plant and equipment              |   |         | 750    |   |         |   | -       |    |   |   | 162          |   |   |         | 260    |   |   |   | 328 |   |
| Goodwill                                   |   |         | 235    |   |         |   | -       |    |   |   | 146          |   |   |         | 3      |   |   |   | 86 |   |
| Other assets                               |   |         | 654    |   |         |   | -       |    |   |   | 180          |   |   |         | 215    |   |   |   | 259 |   |
| Total assets                               |   | $            | 3,118  |   |         | $      | (19,443 | )       |   | $      | 4,876        |   |   | $            | 3,694  |   |   | $ | 13,991 |   |
|                                       |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY       |   |         |   |   |         |   |    |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Current liabilities                        |   | $            | 598    |   |         | $      | -       |    |   | $      | 347          |   |   | $            | 54     |   |   | $ | 197 |   |
| Intercompany payables                      |   |         | -      |   |         |   | (5,339  | )       |   |   | 1,544        |   |   |         | 763    |   |   |   | 3,032 |   |
| Long-term debt                             |   |         | 3      |   |         |   | -       |    |   |   | -            |   |   |         | -      |   |   |   | 3 |   |
| Other long-term liabilities                |   |         | 348    |   |         |   | -       |    |   |   | 36           |   |   |         | 36     |   |   |   | 276 |   |
| Liabilities subject to compromise          |   |         | 1,997  |   |         |   | (1,446  | )       |   |   | 2,777        |   |   |         | 666    |   |   |   | - |   |
| Total liabilities                          |   |         | 2,946  |   |         |   | (6,785  | )       |   |   | 4,704        |   |   |         | 1,519  |   |   |   | 3,508 |   |
| Stockholders' equity                       |   |         | 172    |   |         |   | (12,658 | )       |   |   | 172          |   |   |         | 2,175  |   |   |   | 10,483 |   |
| Total liabilities and stockholders' equity |   | $            | 3,118  |   |         | $      | (19,443 | )       |   | $      | 4,876        |   |   | $            | 3,694  |   |   | $ | 13,991 |   |

----

|                                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|-------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                                                            |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                                                            |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
| Increase (decrease) to cash                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net (loss) earnings                                                                             |   | $            | (293   | )      |         | $      | 38     |    |   | $      | (293         | )      |   | $            | 2      |   |   | $ | (40 | ) |
| Adjustments to reconcile net (loss) earnings to net cash provided by (used in) operations: |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Loss on sale of discontinued operations                                                         |   |         | 3      |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 3 |   |
| Impairment charges                                                                              |   |         | 104    |   |         |   | -      |    |   |   | 53           |   |   |         | -      |   |   |   | 51 |   |
| Depreciation and amortization                                                                   |   |         | 173    |   |         |   | -      |    |   |   | 48           |   |   |         | 65     |   |   |   | 60 |   |
| Stock-based compensation expense                                                                |   |         | 3      |   |         |   | -      |    |   |   | 3            |   |   |         | -      |   |   |   | - |   |
| Reorganization items, net                                                                       |   |         | 35     |   |         |   | -      |    |   |   | 35           |   |   |         | -      |   |   |   | - |   |
| Changes in estimates related to expected allowable claims                                       |   |         | 73     |   |         |   | -      |    |   |   | 71           |   |   |         | 2      |   |   |   | - |   |
| Equity loss                                                                                     |   |         | -      |   |         |   | (38    | )       |   |   | 38           |   |   |         | -      |   |   |   | - |   |
| Changes in assets and liabilities, net                                                          |   |         | (49    | )      |         |   | -      |    |   |   | (58          | )      |   |         | (45    | ) |   |   | 54 |   |
| Net cash provided by (used in) operations                                                       |   |         | 49     |   |         |   | -      |    |   |   | (103         | )      |   |         | 24     |   |   |   | 128 |   |
|                                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net proceeds from divestments                                                                   |   |         | 3      |   |         |   | -      |    |   |   | 3            |   |   |         | -      |   |   |   | - |   |
| Payments for acquisitions, net of cash acquired                                                 |   |         | (5     | )      |         |   | -      |    |   |   | (5           | )      |   |         | -      |   |   |   | - |   |
| Capital expenditures                                                                            |   |         | (56    | )      |         |   | -      |    |   |   | (17          | )      |   |         | (17    | ) |   |   | (22 | ) |
| Net cash used in investing activities                                                           |   |         | (58    | )      |         |   | -      |    |   |   | (19          | )      |   |         | (17    | ) |   |   | (22 | ) |
|                                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Proceeds from DIP Credit Facility, net                                                          |   |         | 250    |   |         |   | -      |    |   |   | 250          |   |   |         | -      |   |   |   | - |   |
| Payments on 2007 Credit Facility, net                                                           |   |         | (28    | )      |         |   | -      |    |   |   | (28          | )      |   |         | -      |   |   |   | - |   |
| Proceeds from long term borrowings                                                              |   |         | 1      |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 1 |   |
| Payments on long term borrowings                                                                |   |         | (18    | )      |         |   | -      |    |   |   | (9           | )      |   |         | (9     | ) |   |   | - |   |
| Payments on short term borrowings, net                                                          |   |         | (2     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (2 | ) |
| Payments for debt issuance and refinancing costs                                                |   |         | (30    | )      |         |   | -      |    |   |   | (30          | )      |   |         | -      |   |   |   | - |   |
| Net cash provided by (used in) financing activities                                             |   |         | 173    |   |         |   | -      |    |   |   | 183          |   |   |         | (9     | ) |   |   | (1 | ) |
|                                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH                                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Effect of exchange rates on cash and cash equivalents                                           |   |         | 4      |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 4 |   |
| Change in cash and cash equivalents                                                             |   |         | 168    |   |         |   | -      |    |   |   | 61           |   |   |         | (2     | ) |   |   | 109 |   |
| Cash and cash equivalents at beginning of period                                                |   |         | 68     |   |         |   | -      |    |   |   | 21           |   |   |         | 2      |   |   |   | 45 |   |
| Cash and cash equivalents at end of period                                                      |   | $            | 236    |   |         | $      | -      |    |   | $      | 82           |   |   | $            | -      |   |   | $ | 154 |   |

----

|                                                                |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|--------------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                                     |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                                     |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net sales                                                                |   | $            | 3,154  |   |         | $      | (1,357 | )       |   | $      | 1,092        |   |   | $            | 1,089  |   |   | $ | 2,330 |   |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Cost of products sold                                                    |   |         | 2,437  |   |         |   | (1,357 | )       |   |   | 942          |   |   |         | 855    |   |   |   | 1,997 |   |
| Selling, general and administrative                                      |   |         | 323    |   |         |   | -      |    |   |   | 129          |   |   |         | 45     |   |   |   | 149 |   |
| Depreciation and amortization                                            |   |         | 221    |   |         |   | -      |    |   |   | 87           |   |   |         | 70     |   |   |   | 64 |   |
| Research and development                                                 |   |         | 46     |   |         |   | -      |    |   |   | 15           |   |   |         | 10     |   |   |   | 21 |   |
| Facility closures, severance and related costs                           |   |         | 23     |   |         |   | -      |    |   |   | 6            |   |   |         | 2      |   |   |   | 15 |   |
| Antitrust costs                                                          |   |         | 12     |   |         |   | -      |    |   |   | 12           |   |   |         | -      |   |   |   | - |   |
| Loss on sale of business                                                 |   |         | 25     |   |         |   | -      |    |   |   | 25           |   |   |         | 1      |   |   |   | (1 | ) |
| Impairment charges                                                       |   |         | 986    |   |         |   | -      |    |   |   | 88           |   |   |         | 445    |   |   |   | 453 |   |
| Equity income                                                            |   |         | (4     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (4 | ) |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Operating loss                                                           |   |         | (915   | )      |         |   | -      |    |   |   | (212         | )      |   |         | (339   | ) |   |   | (364 | ) |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Interest expense                                                         |   |         | (78    | )      |         |   | -      |    |   |   | (86          | )      |   |         | (10    | ) |   |   | 18 |   |
| Other income (expense), net                                              |   |         | 9      |   |         |   | -      |    |   |   | (17          | )      |   |         | (10    | ) |   |   | 36 |   |
| Equity in net earnings (loss) of subsidiaries from continuing operations |   |         | -      |   |         |   | 670    |    |   |   | (670         | )      |   |         | -      |   |   |   | - |   |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Loss from continuing operations before income taxes                      |   |         | (984   | )      |         |   | 670    |    |   |   | (985         | )      |   |         | (359   | ) |   |   | (310 | ) |
| Income tax (provision) benefit                                           |   |         | 29     |   |         |   | -      |    |   |   | 35           |   |   |         | 44     |   |   |   | (50 | ) |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Loss from continuing operations                                          |   |         | (955   | )      |         |   | 670    |    |   |   | (950         | )      |   |         | (315   | ) |   |   | (360 | ) |
| Loss from discontinued operations, net of tax                            |   |         | (16    | )      |         |   | -      |    |   |   | (23          | )      |   |         | (6     | ) |   |   | 13 |   |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net loss                                                                 |   |         | (971   | )      |         |   | 670    |    |   |   | (973         | )      |   |         | (321   | ) |   |   | (347 | ) |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Less: net earnings attributable to non-controlling interests             |   |         | (2     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (2 | ) |
|                                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net loss attributable to Chemtura                                        |   | $            | (973   | )      |         | $      | 670    |    |   | $      | (973         | )      |   | $            | (321   | ) |   | $ | (349 | ) |

----

|                                                                       |   |         |   |   |         |   |   |    |   |   |         |   |   | Non-         |   |
|---------------------------------------------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|---------|--------|--------|--------------|--------|--------|--------------|--------|
|                                                                            |   |         |   |   |         |   |   | Parent  |   |   | Guarantor    |   |   | Guarantor    |   |
|                                                                            |   | Consolidated |   |   | Eliminations |   |   | Company |   |   | Subsidiaries |   |   | Subsidiaries |   |
| Increase (decrease) to cash                                                     |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |
| Net loss                                                                        |   | $            | (973   | )      |         | $      | 670    |    |   | $      | (973         | )      |   | $            | (321   | ) |   | $ | (349 | ) |
| Adjustments to reconcile net loss to net cash (used in) provided by operations: |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Loss on sale of business                                                        |   |         | 25     |   |         |   | -      |    |   |   | 25           |   |   |         | 1      |   |   |   | (1 | ) |
| Impairment charges                                                              |   |         | 986    |   |         |   | -      |    |   |   | 88           |   |   |         | 445    |   |   |   | 453 |   |
| Depreciation and amortization                                                   |   |         | 237    |   |         |   | -      |    |   |   | 94           |   |   |         | 76     |   |   |   | 67 |   |
| Stock-based compensation expense                                                |   |         | 5      |   |         |   | -      |    |   |   | 5            |   |   |         | -      |   |   |   | - |   |
| Equity (income) loss                                                            |   |         | (4     | )      |         |   | (670   | )       |   |   | 670          |   |   |         | -      |   |   |   | (4 | ) |
| Changes in assets and liabilities, net                                          |   |         | (287   | )      |         |   | -      |    |   |   | (12          | )      |   |         | (151   | ) |   |   | (124 | ) |
| Net cash (used in) provided by operations                                       |   |         | (11    | )      |         |   | -      |    |   |   | (103         | )      |   |         | 50     |   |   |   | 42 |   |
|                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Net proceeds from divestments                                                   |   |         | 64     |   |         |   | -      |    |   |   | 34           |   |   |         | 27     |   |   |   | 3 |   |
| Payments for acquisitions, net of cash acquired                                 |   |         | (41    | )      |         |   | -      |    |   |   | (15          | )      |   |         | -      |   |   |   | (26 | ) |
| Capital expenditures                                                            |   |         | (121   | )      |         |   | -      |    |   |   | (45          | )      |   |         | (47    | ) |   |   | (29 | ) |
| Net cash used in investing activities                                           |   |         | (98    | )      |         |   | -      |    |   |   | (26          | )      |   |         | (20    | ) |   |   | (52 | ) |
|                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Proceeds from 2007 Credit Facility, net                                         |   |         | 180    |   |         |   | -      |    |   |   | 180          |   |   |         | -      |   |   |   | - |   |
| Proceeds from long term borrowings                                              |   |         | 1      |   |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | 1 |   |
| Payments on long term borrowings                                                |   |         | (31    | )      |         |   | -      |    |   |   | (1           | )      |   |         | (30    | ) |   |   | - |   |
| Payments on short term borrowings, net                                          |   |         | (1     | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (1 | ) |
| Payments for debt issuance and refinancing costs                                |   |         | (1     | )      |         |   | -      |    |   |   | (1           | )      |   |         | -      |   |   |   | - |   |
| Dividends paid                                                                  |   |         | (36    | )      |         |   | -      |    |   |   | (36          | )      |   |         | -      |   |   |   | - |   |
| Other financing activities                                                      |   |         | 2      |   |         |   | -      |    |   |   | 2            |   |   |         | -      |   |   |   | - |   |
| Net cash provided by financing activities                                       |   |         | 114    |   |         |   | -      |    |   |   | 144          |   |   |         | (30    | ) |   |   | - |   |
|                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| CASH                                                                            |   |         |   |   |         |   |   |    |   |   |         |   |   |         |   |   |   |   |   |   |
| Effect of exchange rates on cash and cash equivalents                           |   |         | (14    | )      |         |   | -      |    |   |   | -            |   |   |         | -      |   |   |   | (14 | ) |
| Change in cash and cash equivalents                                             |   |         | (9     | )      |         |   | -      |    |   |   | 15           |   |   |         | -      |   |   |   | (24 | ) |
| Cash and cash equivalents at beginning of period                                |   |         | 77     |   |         |   | -      |    |   |   | 6            |   |   |         | 2      |   |   |   | 69 |   |
| Cash and cash equivalents at end of period                                      |   | $            | 68     |   |         | $      | -      |    |   | $      | 21           |   |   | $            | 2      |   |   | $ | 45 |   |

----

| (In millions, except per share data)                                                      |   | 2010   |   |
|-------------------------------------------------------------------------------------------|--------|--------|--------|
|                                                                                      |   | First  |   |   | Second |   |   | Third |   |   | Fourth |   |
| Net sales                                                                                 |   | $      | 603    |   |   | $ | 767 |   |   | $ | 710 |   |   | $ | 680 |   |
| Gross profit                                                                              |   | $      | 134    |   |   | $ | 199 |   |   | $ | 160 |   |   | $ | 164 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AMOUNTS ATTRIBUTABLE TO CHEMTURA CORPORATION COMMON SHAREHOLDERS:                         |   |   |   |   |   |
| (Loss) earnings from continuing operations, net of tax                                    |   | $      | (177   | ) (a) |   | $ | (41 | ) (b) |   | $ | 12 | (c) |   | $ | (367 | ) (d) |
| (Loss) earnings from discontinued operations, net of tax                                  |   |   | (2     | ) |   |   | 1 |   |   |   | - |   |   |   | - |   |
| Loss on sale of discontinued operations, net of tax                                       |   |   | -      |   |   |   | (9 | ) |   |   | (3 | ) |   |   | - |   |
| Net (loss) earnings attributable to Chemtura Corporation                                  |   | $      | (179   | ) |   | $ | (49 | ) |   | $ | 9 |   |   | $ | (367 | ) |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS (LOSS) PER SHARE - BASIC AND DILUTED - ATTRIBUTABLE TO CHEMTURA CORPORATION (i): |   |
| (Loss) earnings from continuing operations, net of tax                                    |   | $      | (0.73  | ) |   | $ | (0.16 | ) |   | $ | 0.05 |   |   | $ | (2.25 | ) |
| Loss from discontinued operations, net of tax                                             |   |   | (0.01  | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Loss on sale of discontinued operations, net of tax                                       |   |   | -      |   |   |   | (0.04 | ) |   |   | (0.01 | ) |   |   | - |   |
| Net (loss) earnings attributable to Chemtura Corporation                                  |   | $      | (0.74  | ) |   | $ | (0.20 | ) |   | $ | 0.04 |   |   | $ | (2.25 | ) |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted weighted-average shares outstanding                                     |   |   | 242.9  |   |   |   | 242.9 |   |   |   | 242.9 |   |   |   | 163.7 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                      |   | 2009   |   |
|                                                                                      |   | First  |   |   | Second |   |   | Third |   |   | Fourth |   |
| Net sales                                                                                 |   | $      | 464    |   |   | $ | 629 |   |   | $ | 609 |   |   | $ | 598 |   |
| Gross profit                                                                              |   | $      | 100    |   |   | $ | 154 |   |   | $ | 159 |   |   | $ | 166 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AMOUNTS ATTRIBUTABLE TO CHEMTURA CORPORATION COMMON SHAREHOLDERS:                         |   |   |   |   |   |   |   |   |
| (Loss) earnings from continuing operations, net of tax                                    |   | $      | (87    | ) (e) |   | $ | (56 | ) (f) |   | $ | 10 | (g) |   | $ | (94 | ) (h) |
| (Loss) earnings from discontinued operations, net of tax                                  |   |   | (7     | ) |   |   | (62 | ) |   |   | 2 |   |   |   | 4 |   |
| (Loss) gain on sale of discontinued operations, net of tax                                |   |   | -      |   |   |   | - |   |   |   | (4 | ) |   |   | 1 |   |
| Net (loss) earnings attributable to Chemtura Corporation                                  |   | $      | (94    | ) |   | $ | (118 | ) |   | $ | 8 |   |   | $ | (89 | ) |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS (LOSS) PER SHARE - BASIC AND DILUTED - ATTRIBUTABLE TO CHEMTURA CORPORATION (i): |   |
| (Loss) earnings from continuing operations, net of tax                                    |   | $      | (0.36  | ) |   | $ | (0.23 | ) |   | $ | 0.04 |   |   | $ | (0.38 | ) |
| (Loss) earnings from discontinued operations, net of tax                                  |   |   | (0.03  | ) |   |   | (0.26 | ) |   |   | 0.01 |   |   |   | 0.02 |   |
| (Loss) gain on sale of discontinued operations, net of tax                                |   |   | -      |   |   |   | - |   |   |   | (0.02 | ) |   |   | - |   |
| Net (loss) earnings attributable to Chemtura Corporation                                  |   | $      | (0.39  | ) |   | $ | (0.49 | ) |   | $ | 0.03 |   |   | $ | (0.36 | ) |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted weighted-average shares outstanding                                     |   |   | 242.8  |   |   |   | 242.9 |   |   |   | 242.9 |   |   |   | 242.9 |   |

| (a) | The net loss from continuing operations for the first quarter of 2010 included pre-tax charges for changes in estimates to expected allowable claims of $122 million, reorganization items, net of $21 million, a loss on the early extinguishment of debt of $13 million and facility closure costs of $2 million. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The net loss from continuing operations for the second quarter of 2010 included pre-tax charges for contractual interest expense on unsecured pre-petition liabilities of $108 million and reorganization items, net of $26 million.  Also included in the net loss from continuing operations was a pre-tax credit for changes in estimates to expected allowable claims of $49 million. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The earnings from continuing operations for the third quarter of 2010 included pre-tax charges for reorganization items of $33 million and contractual interest expense on unsecured pre-petition liabilities of $21 million.  Also included in the earnings from continuing operations were pre-tax credits for changes in estimates to expected allowable claims of $40 million and facility closures of $2 million. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | The net loss from continuing operations for the fourth quarter of 2010 included pre-tax charges for reorganization items, net of $223 million, a loss on the early extinguishment of debt of $75 million, asset impairments of $57 million, interest expense on unsecured pre-petition liabilities of $9 million and changes in estimates to expected allowable claims of $2 million. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | The net loss from continuing operations for the first quarter of 2009 included pre-tax charges for reorganization items, net of $40 million, facility closures of $3 million and antitrust costs of $2 million. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | The net loss from continuing operations for the second quarter of 2009 included pre-tax charges for asset impairments of $37 million relating to goodwill in the Consumer Products segment, antitrust costs of $8 million and reorganization item, net of $6 million. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | Earnings from continuing operations for the third quarter of 2009 included pre-tax charges for reorganization items, net of $20 million. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------|

| (h) | The net loss from continuing operations for the fourth quarter of 2009 included pre-tax charges for changes in estimates related to expected allowable claims of $73 million, reorganization items, net of $31 million and impairment charges of $2 million relating primarily to intangible assets for the Consumer Products segment. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i) | The sum of the earnings per common share for the four quarters may not equal the total earnings per common share for the full year due to quarterly changes in the average number of shares outstanding.  Additionally, upon the effectiveness of our Plan all previously outstanding shares of common stock were cancelled and pursuant to the Plan approximately 96 million shares of New Common Stock were issued.  As a result, the average shares outstanding of our New Common Stock may not be comparable to prior periods. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

|   | 1. | Financial statements and Report of Independent Registered Public Accounting Firm, as required by Item 8 of this form. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------|

|   | 2. | Financial Statement Schedule II, Valuation and Qualifying Accounts, required by Regulation S-X is included herein. |
|--------|----|--------------------------------------------------------------------------------------------------------------------|

|   | 3. | The following exhibits are either filed herewith or incorporated herein by reference to the respective reports and registration statements identified in the parenthetical clause following the description of the exhibit: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ExhibitNo. |   | Description                                                                                                                                                                                                                                                                                                                                                                  |
|------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1        |   | Joint Chapter 11 Plan of Chemtura Corporation, et al, dated August 4, 2010, as amended (incorporated by reference to Exhibit 2.1 to the Registrant’s November 4, 2010 Form 8-K).                                                                                                                                                                                  |
| 3(i)       |   | Amended and Restated Certificate of Incorporation of Chemtura Corporation (incorporated by reference to Exhibit 3.1 to Chemtura’s Registration Statement on Form 8-A filed with the SEC on November 9, 2010).                                                                                                                                                     |
| 3(ii)      |   | Bylaws of Chemtura Corporation (incorporated by reference to Exhibit 3.2 to Chemtura’s Registration Statement on Form 8-A filed with the SEC on November 9, 2010).                                                                                                                                                                                                |
| 4.1        |   | Indenture, dated as of August 27, 2010, among Chemtura Corporation and U.S. Bank National Association (incorporated by reference to Exhibit 4.2 to the Registrant’s August 27, 2010 Form 8-K (“August 27, 2010 8-K”)).                                                                                                                                |
| 4.2        |   | Registration Rights Agreement, dated as of August 27, 2010 among Chemtura Corporation, the subsidiaries named therein and Citigroup Global Markets Inc., Banc of America Securities LLC, Barclays Capital Inc., Wells Fargo Securities, LLC and Goldman, Sachs & Co (incorporated by reference to Exhibit 4.3 to the Registrant’s August 27, 2010 Form 8-K).  |
| 4.3        |   | First Supplemental Indenture, dated as of November 9, 2010, among Chemtura Corporation, the guarantors named therein and U.S. Bank National Association (incorporated by reference to Exhibit 4.4 to the Registrant’s November 12, 2010 Form 8-K (“November 12, 2010 8-K”)).                                                                          |
| 10.1       |   | Letter Agreement, dated March 18, 2009, between the Company and Alvarez & Marsal North America, LLC (incorporated by reference to Exhibit 10.3 to the March 31, 2009 10-Q).                                                                                                                                                                                         |
| 10.2       |   | Separation Agreement and General Release, dated as of July 1, 2009, between Chemtura Corporation and Robert Wedinger (incorporated by reference to Exhibit 99.1 to the Registrant’s July 9, 2009 Form 8-K).                                                                                                                                                       |
| 10.3       |   | 2009 Chemtura Corporation Management Incentive Program (incorporated by reference to Exhibit 10.1 to the Registrant’s Form 10-Q for the period ended June 30, 2009).                                                                                                                                                                                              |
| 10.4       |   | Share and Asset Purchase Agreement, dated December 23, 2009, among Chemtura Corporation, SK Atlas, LLC and SK Capital Partners II, LP (incorporated by reference to Exhibit 2.1 to the Registrant’s December 23, 2009 Form 8-K).                                                                                                                                  |
| 10.5       |   | Share and Asset Purchase Agreement between Chemtura Corporation and SK Atlas, LLC and SK Capital Partners II, LLP, dated December 15, 2010 (incorporated by reference to Exhibit 10.58 to the Registrant’s 2009 Form 10-K).                                                                                                                                       |
| 10.6       |   | Share and Asset Purchase Agreement by and among Artek Aterian Holding Company, LLC, Aterian Investment Partners Distressed Opportunities, LP, Artek Surfin Chemicals Ltd. and Chemtura Corporation, dated February 23, 2010 (incorporated by reference to Exhibit 2.1 to the Registrant’s February 24, 2010 Form 8-K).                                            |

----

| ExhibitNo. |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                             |
|------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.7       |   | Senior Secured Term Facility Credit Agreement, dated as of August 27, 2010, among Chemtura Corporation, Bank of America, N.A., as Administrative Agent, the other agents party thereto and the Lenders party thereto (incorporated by reference to Exhibit 4.5 to the Registrant’s August 27, 2010 Form 8-K).                                                                                                                |
| 10.8       |   | Amendment No. 1 to the Senior Secured Term Facility Credit Agreement, dated as of September 27, 2010, among Chemtura Corporation, Bank of America, N.A., as Administrative Agent, the other agents party thereto and the Lenders party thereto (incorporated by reference to Exhibit 4.1 to the Registrant’s September 30, 2010 Form 8-K).                                                                                   |
| 10.9       |   | Senior Secured Revolving Credit Facility Agreement, dated as of November 9, 2010, among Chemtura Corporation and certain of its subsidiaries named therein, as borrowers, Bank of America, N.A., as administrative agent and collateral agent, the other agents party thereto and the Initial Lenders and other Lenders party thereto (incorporated by reference to Exhibit 4.1 to the Registrant’s November 12, 2010 8-K).  |
| 10.10      |   | Guaranty, dated as of November 9, 2010, pursuant to the Senior Secured Revolving Facility Credit Agreement (incorporated by reference to Exhibit 4.2 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                             |
| 10.11      |   | Security Agreement, dated as of November 9, 2010, pursuant to the Senior Secured Revolving Facility Credit Agreement (incorporated by reference to Exhibit 4.3 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                   |
| 10.12      |   | Guaranty, dated as of November 9, 2010, pursuant to the Senior Secured Term Facility Credit Agreement (incorporated by reference to Exhibit 4.5 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                                  |
| 10.13      |   | Security Agreement, dated as of November 9, 2010, pursuant to the Senior Secured Term Facility Credit Agreement (incorporated by reference to Exhibit 4.6 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                        |
| 10.14      |   | Employment Agreement, dated as of November 9, 2010, between Craig Rogerson and Chemtura Corporation (incorporated by reference to Exhibit 10.1 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                                   |
| 10.15      |   | Employment Agreement, dated as of November 9, 2010, between Stephen Forsyth and Chemtura Corporation (incorporated by reference to Exhibit 10.2 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                                  |
| 10.16      |   | Employment Agreement, dated as of November 9, 2010, between Billie Flaherty and Chemtura Corporation (incorporated by reference to Exhibit 10.3 to the Registrant’s November 12, 2010 8-K).                                                                                                                                                                                                                                  |
| 10.17      |   | Employment Agreement, dated as of November 9, 2010, between Chet Cross and Chemtura Corporation. *                                                                                                                                                                                                                                                                                                                            |
| 10.18      |   | Employment Agreement, dated as of November 9, 2010, between Alan Swiech and Chemtura Corporation. *                                                                                                                                                                                                                                                                                                                                |
| 10.19      |   | Form of Nonqualified Stock Option Agreement (incorporated by reference to Exhibit 99.1 to the Registrant’s November 12, 2010 8-K). +                                                                                                                                                                                                                                                                                         |
| 10.20      |   | Form of Restricted Stock Unit Agreement (incorporated by reference to Exhibit 99.2 to the Registrant’s November 12, 2010 8-K). +                                                                                                                                                                                                                                                                                             |
| 10.21      |   | Chemtura Corporation 2010 Long-Term Incentive Plan (incorporated by reference to Exhibit 99.1 to Chemtura’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on November 9, 2010). +                                                                                                                                                                                                     |
| 10.22      |   | Chemtura Corporation EIP Settlement Plan (incorporated by reference to Exhibit 99.2 to Chemtura’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on November 9, 2010). +                                                                                                                                                                                                               |
| 10.23      |   | Chemtura Corporation Emergence Award Plan (incorporated by reference to Exhibit 99.3 to Chemtura’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on November 9, 2010). +                                                                                                                                                                                                              |
| 10.24      |   | Chemtura Corporation 2010 Short Term Incentive Plan.*+                                                                                                                                                                                                                                                                                                                                                                             |
| 18         |   | Independent Registered Public Accounting Firm’s Preferability Letter concerning the change in the measurement date for Chemtura Corporation’s defined benefit and other post-retirement benefit plans from December 31 to November 30 (incorporated by reference to Exhibit 18 to the Registrant’s 2005 Form 10-K).                                                                                              |
| 21         |   | Subsidiaries of the Registrant*                                                                                                                                                                                                                                                                                                                                                                                                    |

----

| ExhibitNo. |   | Description                                                                                                                                                                                         |
|------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 23    |   | Consent of Independent Registered Public Accounting Firm.*                                                                                                                                     |
| 24         |   | Form of Power of Attorney from directors and executive officers of the Registrant authorizing signature of this report (Original on file at principal executive offices of Registrant).   |
| 31.1       |   | Certification of Periodic Financial Reports by the Registrant's Chief Executive Officer (Section 302).*                                                                                        |
| 31.2       |   | Certification of Periodic Financial Reports by the Registrant's Chief Financial Officer (Section 302).*                                                                                        |
| 32.1       |   | Certification of Periodic Financial Reports by the Registrant's Chief Executive Officer (Section 906).*                                                                                        |
| 32.2       |   | Certification of Periodic Financial Reports by the Registrant's Chief Financial Officer (Section 906).*                                                                                             |

----

|                           | CHEMTURA CORPORATION                                 |
|--------------------------------|------------------------------------------------------|
|                           | (Registrant)                                         |
|                           |                                                 |   |
| Date:  March 7, 2011 | By:                                             | /s/ Stephen C. Forsyth |
|                           | Stephen C. Forsyth                                   |
|                           | Executive Vice President and Chief Financial Officer |

| Name                 | Title                                                                                               |
|----------------------|-----------------------------------------------------------------------------------------------------|
| Craig A. Rogerson*   | Chairman of the Board, President, Chief ExecutiveOfficer and Director (Principal Executive Officer) |
|                 |                                                                                                |
| Stephen C. Forsyth   | Executive Vice President and Chief FinancialOfficer (Principal Financial Officer)                   |
|                 |                                                                                                |
| Kevin V. Mahoney     | By:                                                                                       | /s/ Kevin V. Mahoney |
|                 | Senior Vice President and Corporate Controller(Principal Accounting Officer)                        |
|                 |                                                                                                |
| Jeffrey D. Benjamin* | Director                                                                                            |
|                 |                                                                                                |
| Timothy J. Bernlohr* | Lead Director                                                                                       |
|                 |                                                                                                |
| Anna C. Catalano*    | Director                                                                                            |
|                 |                                                                                                |
| Alan S. Cooper*      | Director                                                                                            |
|                 |                                                                                                |
| James W. Crownover*  | Director                                                                                            |
|                 |                                                                                                |
| Jonathan F. Foster*  | Director                                                                                            |
|                 |                                                                                                |
| John K. Wulff*       | Director                                                                                            |

| Date:  March 7, 2011 | *By:                       | /s/ Stephen C. Forsyth |
|--------------------------------|---------------------------------|------------------------|
|                           |   Stephen C. Forsyth  |
|                           |   as attorney-in-fact |

----

|                                                    |   |       |   |   | Additions  |   |   |       |   |   |   |   |   |    |   |
|---------------------------------------------------------|--------|------------|--------|--------|------------|--------|--------|------------|--------|--------|--------|--------|--------|---------|--------|
|                                                    |   | Balance at |   |   | charged to |   |   |       |   |   |   |   |   | Balance |   |
|                                                    |   | beginning  |   |   | costs and  |   |   |       |   |   |   |   |   | at end  |   |
|                                                    |   | of year    |   |   | expenses   |   |   | Deductions |   |   | Other  |   |   | of year |   |
| 2010:                                                   |   |       |   |   |       |   |   |       |   |   |   |   |   |    |   |
|     Allowance for doubtful accounts |   | $          | 32     |   |       |   | 3      |       |   |   | (10    | )(a)   |   |    | (1     | )(c) |   |   | 24 |   |
|     Reserve for customer rebates    |   |       | 18     |   |       |   | 30     |       |   |   | (29    | )(b)   |   |    | 1      | (c) |   |   | 20 |   |
|                                                    |   |       |   |   |       |   |   |       |   |   |   |   |   |    |   |   |   |   |   |   |
| 2009:                                                   |   |       |   |   |       |   |   |       |   |   |   |   |   |    |   |   |   |   |   |   |
|     Allowance for doubtful accounts |   | $          | 25     |   |       |   | 5      |       |   |   | (2     | )(a)   |   |    | 4      | (c) |   |   | 32 |   |
|     Reserve for customer rebates    |   |       | 19     |   |       |   | 27     |       |   |   | (30    | )(b)   |   |    | 2      | (c) |   |   | 18 |   |
|                                                    |   |       |   |   |       |   |   |       |   |   |   |   |   |    |   |   |   |   |   |   |
| 2008:                                                   |   |       |   |   |       |   |   |       |   |   |   |   |   |    |   |   |   |   |   |   |
|     Allowance for doubtful accounts |   | $          | 32     |   |       |   | 3      |       |   |   | (5     | )(a)   |   |    | (5     | )(c) |   |   | 25 |   |
|     Reserve for customer rebates    |   |       | 25     |   |       |   | 30     |       |   |   | (36    | )(b)   |   |    | -      |   |   |   | 19 |   |

|   | (a) | Represents primarily accounts written off as uncollectible (net of recoveries). |
|--------|-----|---------------------------------------------------------------------------------|

|   | (b) | Represents primarily payment to the customers. |
|--------|-----|------------------------------------------------|

|   | (c) | Represents primarily the translation effect of balances denominated in foreign currencies. |
|--------|-----|--------------------------------------------------------------------------------------------|

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