# EDGAR Filing Document

**Accession Number:** 0001519061
**File Stem:** 0001104659-26-052646
**Filing Date:** 2026-4
**Character Count:** 233796
**Document Hash:** 9fe0765e984ad47426e5f731a5589fc4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-052646.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001104659-26-052646

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 103

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Trinseo PLC
- **CENTRAL INDEX KEY:** 0001519061
- **STANDARD INDUSTRIAL CLASSIFICATION:** PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L2
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36473
- **FILM NUMBER:** 26923100

**BUSINESS ADDRESS:**
- **STREET 1:** 440 EAST SWEDESFORD ROAD
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 610-240-3200

**MAIL ADDRESS:**
- **STREET 1:** 440 EAST SWEDESFORD ROAD
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Trinseo S.A.
- **DATE OF NAME CHANGE:** 20110429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bain Capital Everest (Luxco 2) S.a r.l.
- **DATE OF NAME CHANGE:** 20110426

?xml version='1.0' encoding='ASCII'? Trinseo PLC_March 31, 2026

[**Table of Contents**](#Toc)

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 10-Q** 

**(Mark One)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**☒** **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**For the quarterly period ended March 31, 2026**

**or**

**☐** **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**For the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**Commission File Number: 001-36473** 

## Trinseo PLC
**(Exact name of registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Ireland** | **N/A** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification Number)** |

---

**440 East Swedesford Road**

**Suite 301**

**Wayne, PA 19087** 

**(Address of Principal Executive Offices)** 

**(610) 240-3200** 

**(Registrant's telephone number)** 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Large accelerated filer | ◻ | Accelerated filer | ☒ |  |  |
| Non-accelerated filer | ◻  | Smaller reporting company | ☐ | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Title of Each Class** | &nbsp;&nbsp;**Trading symbol** | &nbsp;&nbsp;**Name of Exchange on which registered** |
| &nbsp;&nbsp;**Ordinary Shares, par value $0.01 per share** | &nbsp;&nbsp;**TSEOF** | &nbsp;&nbsp;**N/A\*** |

---

As of April 24, 2026, there were 36,559,868 of the registrant's ordinary shares outstanding.

*\*On March 18, 2026, the NYSE filed a Form 25 relating to the delisting from the NYSE of our ordinary shares. The delisting became effective on March 30, 2026. The ordinary shares will continue to trade over the counter under the symbol "TSEOF."*

[**Table of Contents**](#Toc)

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| ('`<br>', '\u2063') | ('&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>', '&nbsp;&nbsp;<br>') | ('&nbsp;&nbsp;&nbsp;&nbsp; <br>', '**Page**<br>') |
| [**Part I**](#PARTIFINANCIALINFORMATION_591076) | [**Financial Information**](#PARTIFINANCIALINFORMATION_591076) |  |
| [Item 1.](#Item1FinancialStatements_843085) | [Financial Statements](#Item1FinancialStatements_843085) | 5  |
|  | [Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (Unaudited)](#BalanceSheets_245045) | 5  |
|  | [Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025 (Unaudited)](#StatementsofOperations_883312) | 6  |
|  | [Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2026 and 2025 (Unaudited)](#CompINCLoss) | 7  |
|  | [Condensed Consolidated Statements of Shareholders' Equity (Deficit) for the three months ended March 31, 2026 and 2025 (Unaudited)](#ShareholdersEquityDeficit) | 8  |
|  | [Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (Unaudited)](#StatementsofCashFlows) | 9  |
|  | [Notes to Condensed Consolidated Financial Statements (Unaudited)](#NotestoCondensedConsolidatedFinancialSta) | 10  |
| [Item 2.](#Item2ManagementsDiscussion_378760) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#Item2ManagementsDiscussion_378760) | 34  |
| [Item 3.](#Item3QuantitativeandQualitative_322975) | [Quantitative and Qualitative Disclosures about Market Risk](#Item3QuantitativeandQualitative_322975) | 43  |
| [Item 4.](#Item4ControlsandProcedures_306979) | [Controls and Procedures](#Item4ControlsandProcedures_306979) | 43  |
| [**Part II**](#PARTIIOTHERINFORMATION_368088) | [**Other Information**](#PARTIIOTHERINFORMATION_368088) |  |
| [Item 1.](#Item1LegalProceedings_630334) | [Legal Proceedings](#Item1LegalProceedings_630334) | 43  |
| [Item 1A.](#Item1A_Risk_Factors) | [Risk Factors](#Item1A_Risk_Factors) | 44  |
| [Item 2.](#Item2UnregisteredSalesofEquitySecurities) | [Unregistered Sales of Equity Securities and Use of Proceeds](#Item2UnregisteredSalesofEquitySecurities) | 44  |
| [Item 3.](#Item3DefaultsUponSeniorSecurities_667046) | [Defaults Upon Senior Securities](#Item3DefaultsUponSeniorSecurities_667046) | 44  |
| [Item 4.](#Item4MineSafetyDisclosures_354066) | [Mine Safety Disclosures](#Item4MineSafetyDisclosures_354066) | 44  |
| [Item 5.](#Item5OtherInformation_952004) | [Other Information](#Item5OtherInformation_952004) | 44  |
| [Item 6.](#Item6Exhibits_816677) | [Exhibits](#Item6Exhibits_816677) | 44  |
| [Exhibit Index](#EXHIBITINDEX_701122) |  |  |
| [Signatures](#SIGNATURES_369542) |  |  |

---

[**Table of Contents**](#Toc)

**Trinseo PLC**

**Quarterly Report on Form 10-Q** 

**For the quarterly period ended March 31, 2026** 

*Unless otherwise indicated or required by context, as used in this Quarterly Report on Form 10-Q ("Quarterly Report"), the term "Trinseo PLC" refers to Trinseo PLC (OTC: TSEOF), a public limited company existing under the laws of Ireland, and not its subsidiaries. The terms "Trinseo," the "Company," "we," "us" and "our" refer to Trinseo PLC and its consolidated subsidiaries, taken as a consolidated entity. All financial data provided in this Quarterly Report is the financial data of Trinseo PLC, unless otherwise indicated. Prior to the formation of the Company, our business was wholly owned by The Dow Chemical Company (together with other affiliates, "Dow").*

*Definitions of capitalized terms not defined herein appear within our Annual Report on Form 10-K for the year ended December 31, 2025 ("Annual Report") filed with the Securities and Exchange Commission ("SEC") on March 13, 2026.* 

***Cautionary Note on Forward-Looking Statements***

*This Quarterly Report contains, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "believe," "intend," "forecast," "estimate," "see," "outlook," "will," "may," "might," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would," or expressions of similar meaning. Forward-looking statements reflect management's evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy, our current indebtedness and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.*

*Specific factors that may cause future results to differ from those expressed by the forward-looking statements, or otherwise impact performance or other predictions of future actions have, in many but not all cases, been identified in connection with specific forward-looking statements. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to continue as a going concern; ongoing discussions with our financial stakeholders; our significant levels of indebtedness, ability to service our debt, meet our debt covenants or obtain amendments, waivers or forbearances; unexpected payment obligations or liabilities which could create liquidity challenges; conditions in the global economy and capital markets, including persistent decreased customer demand and the impact of tariffs on global trade relations; our ability to successfully generate cost savings through restructuring and cost reduction initiatives; our ability to successfully execute our business and transformation strategy; increased costs or disruption in the supply of raw materials; deterioration of our credit profile limiting our access to commercial credit; increased energy costs; the timing of, and our ability to complete, a sale of our interest in Americas Styrenics; compliance with laws and regulations impacting our business; any disruptions in production at our chemical manufacturing facilities, including those resulting from accidental spills or discharges our ability to generate cash flows from operations and achieve our forecasted cash flows; and those discussed in our Annual Report filed with the SEC on March 13, 2026 under Part I, Item IA— "Risk Factors," within this Quarterly Report and in other filings and furnishings made by the Company with the SEC from time to time.*

*As a result of these or other factors, our actual results, performance or achievements may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Therefore, we caution you against relying on these forward-looking statements. The forward-looking statements included in this Quarterly Report are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.* 

***Available Information***

*Our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, are available free of charge through the Investor Relations section of our website, www.trinseo.com, as soon as reasonably practicable after the reports are electronically filed or furnished with the SEC. We provide this website and information contained in or connected to it for informational purposes only. That information is not a part of this Quarterly Report.*

[**Table of Contents**](#Toc)

**PART I —FINANCIAL INFORMATION**

**Item 1. Financial Statements** 

**TRINSEO PLC** 

**Condensed Consolidated Balance Sheets** 

**(In millions, except per share data)** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| **Assets** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $110.6 | $146.7 |
| &nbsp;&nbsp;Accounts receivable, net of allowances (March 31, 2026: $9.3; December 31, 2025: $10.2) | 426.2 | 364.5 |
| &nbsp;&nbsp;Inventories | 323.4 | 316.0 |
| &nbsp;&nbsp;Other current assets | 83.5 | 37.5 |
| &nbsp;&nbsp;Total current assets | 943.7 | 864.7 |
| Investments in unconsolidated affiliate | 209.1 | 206.9 |
| Property, plant and equipment, net of accumulated depreciation (March 31, 2026: $954.8; December 31, 2025: $953.0) | 503.4 | 523.6 |
| Other assets |  |  |
| &nbsp;&nbsp;Goodwill | 66.2 | 67.7 |
| &nbsp;&nbsp;Other intangible assets, net | 462.1 | 492.9 |
| &nbsp;&nbsp;Right-of-use assets – operating, net | 61.1 | 56.2 |
| &nbsp;&nbsp;Deferred income tax assets | 2.4 | 2.1 |
| &nbsp;&nbsp;Deferred charges and other assets | 61.3 | 66.1 |
| &nbsp;&nbsp;Total other assets | 653.1 | 685.0 |
| Total assets | $2309.3 | $2280.2 |
| **Liabilities and shareholders' equity (deficit)** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;Short-term borrowings and current portion of long-term debt | $2769.3 | $212.9 |
| &nbsp;&nbsp;Accounts payable | 219.8 | 283.9 |
| &nbsp;&nbsp;Current lease liabilities – operating | 11.6 | 11.6 |
| &nbsp;&nbsp;Income taxes payable | 5.8 | 3.7 |
| &nbsp;&nbsp;Accrued expenses and other current liabilities | 194.0 | 202.6 |
| &nbsp;&nbsp;Total current liabilities | 3200.5 | 714.7 |
| Noncurrent liabilities |  |  |
| &nbsp;&nbsp;Long-term debt, net of unamortized deferred financing fees | 2.2 | 2332.5 |
| &nbsp;&nbsp;Noncurrent lease liabilities – operating  | 52.7 | 47.9 |
| &nbsp;&nbsp;Deferred income tax liabilities | 33.1 | 30.5 |
| &nbsp;&nbsp;Other noncurrent obligations | 243.7 | 252.4 |
| &nbsp;&nbsp;Total noncurrent liabilities | 331.7 | 2663.3 |
| Commitments and contingencies (Note 13) |  |  |
| Shareholders' equity (deficit) |  |  |
| &nbsp;&nbsp;Ordinary shares, $0.01 nominal value, 4,000.0 shares authorized (March 31, 2026: 40.7 shares issued and 36.6 shares outstanding; December 31, 2025: 40.1 shares issued and 36.0 shares outstanding) | 0.4 | 0.4 |
| &nbsp;&nbsp;Preferred shares, €0.01 nominal value, 1,000.0 shares authorized (no shares issued or outstanding) |  |  |
| &nbsp;&nbsp;Deferred ordinary shares, €1.00 nominal value, 0.025 shares authorized (March 31, 2026: 0.025 shares issued and outstanding; December 31, 2025: 0.025 shares issued and outstanding) |  |  |
| &nbsp;&nbsp;Additional paid-in-capital | 522.4 | 521.4 |
| &nbsp;&nbsp;Treasury shares, at cost (March 31, 2026: 4.1 shares; December 31, 2025: 4.1 shares) | (200.0) | (200.0) |
| &nbsp;&nbsp;Accumulated deficit | (1455.2) | (1339.3) |
| &nbsp;&nbsp;Accumulated other comprehensive loss | (90.5) | (80.3) |
| &nbsp;&nbsp;Total shareholders' equity (deficit) | (1222.9) | (1097.8) |
| Total liabilities and shareholders' equity (deficit) | $2309.3 | $2280.2 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

[**Table of Contents**](#Toc)

**TRINSEO PLC**

**Condensed Consolidated Statements of Operations** 

**(In millions, except per share data)** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Net sales | $724.7 | $784.8 |
| Cost of sales | 663.0 | 721.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 61.7 | 63.8 |
| Selling, general and administrative expenses | 87.4 | 91.0 |
| Equity in earnings (losses) of unconsolidated affiliate | 2.1 | (1.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating loss | (23.6) | (29.0) |
| Interest expense, net | 78.7 | 66.6 |
| Other expense (income), net | 4.2 | (23.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (106.5) | (72.4) |
| Provision for income taxes | 9.4 | 6.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(115.9) | $(79.0) |
| Weighted average shares‒basic | 36.2 | 35.5 |
| Net loss per share‒basic: | $(3.20) | $(2.22) |
| Weighted average shares‒diluted | 36.2 | 35.5 |
| Net loss per share‒diluted: | $(3.20) | $(2.22) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

[**Table of Contents**](#Toc)

**TRINSEO PLC** 

**Condensed Consolidated Statements of Comprehensive Income (Loss)**

**(In millions)** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Net loss | $(115.9) | $(79.0) |
| Other comprehensive income (loss), net of tax: |  |  |
| &nbsp;&nbsp;Cumulative translation adjustments | (9.0) | 19.5 |
| &nbsp;&nbsp;Net loss on cash flow hedges (net of tax of $0.0 and $0.0) |  |  |
| &nbsp;&nbsp;Pension and other postretirement benefit plans: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain arising during period | 0.6 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amounts reclassified from accumulated other comprehensive loss | (1.8) | (0.6) |
| Total other comprehensive income (loss), net of tax | (10.2) | 18.9 |
| Comprehensive loss | $(126.1) | $(60.1) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

[**Table of Contents**](#Toc)

**TRINSEO PLC** 

**Condensed Consolidated Statements of Shareholders' Equity (Deficit)**

**(In millions, except per share data)** 

**(Unaudited)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Shares** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** | **Shareholders' Equity (Deficit)** |
|  | **Ordinary Shares Outstanding** | **Treasury Shares** | **Deferred Ordinary Shares** | **Ordinary Shares** | **Deferred Ordinary Shares** | **AdditionalPaid-In Capital** | **Treasury Shares** | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total** |
| **Balance at December 31, 2025** | 36.0 | 4.1 |  | $0.4 | $— | $521.4 | $(200.0) | $(80.3) | $(1339.3) | $(1097.8) |
| Net loss |  |  |  |  |  |  |  |  | (115.9) | (115.9) |
| Other comprehensive loss |  |  |  |  |  |  |  | (10.2) |  | (10.2) |
| Share-based compensation activity | 0.6 |  |  |  |  | 1.0 |  |  |  | 1.0 |
| **Balance at March 31, 2026** | 36.6 | 4.1 |  | $0.4 | $— | $522.4 | $(200.0) | $(90.5) | $(1455.2) | $(1222.9) |
| **Balance at December 31, 2024** | 35.4 | 4.1 |  | $0.4 | $— | $514.6 | $(200.0) | $(142.1) | $(792.8) | $(619.9) |
| Net loss |  |  |  |  |  |  |  |  | (79.0) | (79.0) |
| Other comprehensive income |  |  |  |  |  |  |  | 18.9 |  | 18.9 |
| Share-based compensation activity | 0.2 |  |  |  |  | 1.2 |  |  |  | 1.2 |
| Dividends on ordinary shares ($0.01 per share) |  |  |  |  |  |  |  |  | (0.4) | (0.4) |
| **Balance at March 31, 2025** | 35.6 | 4.1 |  | $0.4 | $— | $515.8 | $(200.0) | $(123.2) | $(872.2) | $(679.2) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

[**Table of Contents**](#Toc)

**TRINSEO PLC** 

**Condensed Consolidated Statements of Cash Flows** 

**(In millions)** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| **Cash flows from operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(115.9) | $(79.0) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 49.8 | 36.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred financing fees and issuance discount (premium) | 2.8 | 2.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax | 3.5 | 5.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | (0.1) | 5.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Earnings) losses of unconsolidated affiliate, net of dividends | (2.1) | 1.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized net (gain) loss on foreign exchange forward contracts | (1.7) | 14.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized net loss on commodity economic swap contracts | 1.3 | 3.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension curtailment and settlement gain | (0.6) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of long-term debt |  | 0.2 |
| &nbsp;&nbsp;&nbsp;Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (67.6) | (83.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (10.6) | (29.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and other current liabilities | (47.2) | 10.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 2.0 | (3.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets, net | (49.5) | 20.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities, net | 3.0 | (15.7) |
| &nbsp;&nbsp;&nbsp;Cash used in operating activities | (232.9) | (110.2) |
| **Cash flows from investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (11.3) | (8.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the sale of other assets | 3.6 |  |
| &nbsp;&nbsp;&nbsp;Cash used in investing activities | (7.7) | (8.7) |
| **Cash flows from financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred financing fees |  | (19.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings, net | (0.5) | (1.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (0.5) | (0.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withholding taxes paid on restricted share units | (0.2) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from issuance of 2028 Refinance Term Loans |  | 115.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of 2025 Senior Notes |  | (115.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchases and repayments of long-term debt | (3.0) | (5.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Accounts Receivable Securitization Facility | 22.0 | 70.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of Accounts Receivable Securitization Facility |  | (10.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Revolving Facility | 230.0 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of Revolving Facility | (40.0) |  |
| &nbsp;&nbsp;&nbsp;Cash provided by financing activities | 207.8 | 32.8 |
| Effect of exchange rates on cash | (2.0) | 2.5 |
| Net change in cash, cash equivalents, and restricted cash | (34.8) | (83.6) |
| Cash, cash equivalents, and restricted cash—beginning of period | 149.0 | 211.9 |
| Cash, cash equivalents, and restricted cash—end of period | $114.2 | $128.3 |
| Less: Restricted cash | 3.6 | 2.2 |
| Cash and cash equivalents—end of period | $110.6 | $126.1 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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**TRINSEO PLC**

**Notes to Condensed Consolidated Financial Statements** 

**(Dollars in millions, unless otherwise stated)** 

**(Unaudited)** 

**NOTE 1—BASIS OF PRESENTATION** 

The unaudited interim condensed consolidated financial statements of Trinseo PLC and its subsidiaries (the "Company") as of and for the periods ended March 31, 2026 and 2025 were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and reflect all adjustments, consisting only of normal recurring adjustments, which, in the opinion of management, are considered necessary for the fair statement of the results for the periods presented. Because they cover interim periods, the statements and related notes to the financial statements do not include all disclosures normally provided in annual financial statements, and therefore, these statements should be read in conjunction with the 2025 audited consolidated financial statements included within the Company's Annual Report on Form 10-K ("Annual Report") filed with the Securities and Exchange Commission ("SEC") on March 13, 2026.

The Company's condensed consolidated financial statements presented herein reflect the latest estimates and assumptions made by management that affect the reported amounts and related disclosures as of and for the period ended March 31, 2026. However, actual results could differ from these estimates and assumptions.

The December 31, 2025 condensed consolidated balance sheet data presented herein was derived from the Company's December 31, 2025 audited consolidated financial statements but does not include all disclosures required by GAAP for annual periods.

*Going Concern*

In accordance with Accounting Standards Codification ("ASC") 205-40, Going Concern, the Company evaluated whether conditions and events raise substantial doubt about its ability to continue as a going concern within one year after the issuance of these consolidated financial statements.

The consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of March 31, 2026, the Company had liquidity of $114.2 million and an accumulated deficit of $1,455.2 million and used cash in operations of $232.9 million during the period ended March 31, 2026. The Company expects continued operating losses and significant cash outflows from operating activities in the near term. Current macroeconomic and geopolitical conditions, including inflation, and ongoing conflicts (such as the Russia-Ukraine war and military conflict in Iran), continue to create significant uncertainty in the broader business environment. These external factors have contributed to weaker demand in many of our end markets and are expected to continue to have a material adverse effect on the Company's financial performance and liquidity forecasts.

During the three months ended March 31, 2026, the Company elected not to make certain interest payments, and the applicable grace periods under the Senior Credit Agreement and 2L Notes Indenture expired without payment. The nonpayment of interest or principal beyond the applicable grace periods constituted events of default under those agreements and triggered cross defaults under the Refinance Credit Agreement, OpCo Super-Priority Revolver and AR Securitization Facility. As a result, the maturity of the related debt was accelerated and became immediately payable.

The holders of the notes issued under the 2L Notes Indenture are subject to the terms of an intercreditor agreement, pursuant to which such noteholders are prohibited from enforcing any collection action against the collateral securing such notes for a period of 180 days following any acceleration of the obligations under the 2L Notes Indenture upon an event of default. The Company has obtained certain amendments and limited waivers under the remainder of its debt facilities, pursuant to which lenders agreed to temporarily waive certain acceleration and collateral enforcement rights and remedies. There can be no assurance that any such waivers or amendments will continue to be available on acceptable terms or at all. The Company is continuing to evaluate strategic and financial alternatives to address its capital structure and has engaged financial and legal advisors to support these efforts in discussions with our lenders. However, the outcome and timing of these actions are uncertain.

As a result of these factors, the Company concluded that substantial doubt about its ability to continue as a going

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concern existed as of the issuance of the prior Form 10-K and continues to exist within one year after the issuance of these condensed consolidated financial statements.

*Potential Restructuring of Our Indebtedness*

We have been reviewing a number of potential alternatives regarding our outstanding indebtedness. These alternatives include refinancings, exchange offers, consent solicitations, the issuance of new indebtedness, amendments to the terms of our existing indebtedness and/or other transactions. We are currently in active discussions with holders of our indebtedness and have engaged outside advisors with respect to these alternatives. Additionally, in January 2026, the Company appointed two new board members with significant experience in debt restructuring and strategic transactions.

Among these alternatives is a restructuring that would, on a consensual or nonconsensual basis, seek to modify the terms of substantially all of our outstanding indebtedness. We may offer to exchange the indebtedness under our 2028 Refinance Term Loans, 2028 Term Loan B, OpCo Super-Priority Revolver or 2029 Refinance Senior Notes for new debt and/or equity securities of our parent and/or subsidiary companies. In conjunction with any such transactions, we may seek consents to amend the documents governing our indebtedness to amend or eliminate certain covenants or collateral provisions. Because the terms of any such transactions will be subject to negotiations with the holders of our indebtedness, they may differ materially from those described above and are, to a large extent, outside of our control. There can be no assurance that we will be able to complete any such transactions, and, as no decision with respect to the terms of any such transactions has been made, we may decide not to pursue any such transactions. If we are unable or elect not to complete any such transactions, or if the Company is unable to obtain additional necessary waivers or amendments and its debt is accelerated, there can be no assurance that the Company would be able to obtain replacement financing or to satisfy its obligations, in which case the Company may pursue a process to restructure its indebtedness through an in-court process. We continue to focus on our initiatives to drive operational performance, maintain safe manufacturing processes, retain talent in our organization and continue our objective to become a specialties materials provider.

On April 10, 2026, the Company executed an amendment to its Super-Priority Revolver that provided incremental senior secured revolving credit commitments in an aggregate principal amount of $50.0 million. This incremental facility provides additional near-term liquidity to support working capital and general corporate purposes during a period of continued market volatility and constrained operating cash flows.

These accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates realization of assets and satisfaction of liabilities in the ordinary course of business. As such, they do not include any adjustments to the recoverability and reclassification of recorded amounts that might be necessary should the Company be unable to continue as a going concern. Refer to Note 10 for additional information.

*New York Stock Exchange Delisting Notification*

On March 2, 2026, we received written notice (the "Notice") from the New York Stock Exchange (the "NYSE") that they determined to commence proceedings to delist the Company's ordinary shares and on March 18, 2026 the NYSE filed a Form 25 with the SEC to delist the Company's ordinary shares from the NYSE. The delisting became effective ten days following the filing of Form 25.

**NOTE 2—RECENT ACCOUNTING GUIDANCE** 

As of March 31, 2026, there were no recently issued accounting standards which would have a material effect on the Company's condensed consolidated financial statements.

**NOTE 3—NET SALES**

Refer to the Annual Report for information on the Company's accounting policies and further background related to its net sales.

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The following table provides disclosure of net sales to external customers by primary geographical market (based on the location where sales originated), by segment for the three months ended March 31, 2026 and 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Three Months Ended**  | **Engineered**<br>**Materials** | **Latex** <br>**Binders** | **Polymer**<br>**Solutions** | <br>**Total** |
| **March 31, 2026** |  |  |  |  |
| United States | $116.1 | $69.9 | $38.1 | $224.1 |
| Europe | 93.1 | 80.7 | 162.0 | 335.8 |
| Asia-Pacific | 34.2 | 44.2 | 57.9 | 136.3 |
| Rest of World | 19.6 | 1.7 | 7.2 | 28.5 |
| Total | $263.0 | $196.5 | $265.2 | $724.7 |
| **March 31, 2025** |  |  |  |  |
| United States | $124.2 | $69.5 | $41.9 | $235.6 |
| Europe | 98.4 | 92.4 | 180.9 | 371.7 |
| Asia-Pacific | 35.1 | 45.7 | 68.4 | 149.2 |
| Rest of World | 19.6 | 1.7 | 7.0 | 28.3 |
| Total | $277.3 | $209.3 | $298.2 | $784.8 |

---

**NOTE 4—RESTRUCTURING ACTIVITIES**

Refer to the Annual Report for further details regarding the Company's previously announced restructuring activities included in the tables below. Restructuring charges are included within "Selling, general and administrative expenses" in the condensed consolidated statements of operations.

*2025 Restructuring Plan*

On October 2, 2025, the Company approved a restructuring plan to permanently close its methyl methacrylate production operations in Rho, Italy and its acetone cyanohydrin production operations in Porto Marghera, Italy (the "MMA Restructuring Plan"). The MMA Restructuring Plan is intended to streamline the company's MMA production network and exit underperforming assets.

On December 5, 2025, the Company approved a restructuring plan to permanently close its polystyrene production operations in Schkopau, Germany with consolidation of remaining PS operations in Tessenderlo, Belgium.

The Company recorded net pre-tax restructuring charges of $138.1 million inception-to-date under the 2025 Restructuring Plan, consisting of $10.9 million of severance and related benefit costs, $102.7 million of asset related charges, and $24.5 million of contract terminations. Asset-related charges include decommissioning and other charges of $14.3 million, $32.6 million related to accelerated depreciation for the asset retirement costs at Porto Marghera and Schkopau, and $55.8 million in accelerated depreciation charges of plant, property and equipment primarily associated with the exit of the Company's plants in Rho, Italy, Porto Marghera, Italy and Schkopau, Germany.

The Company expects to incur incremental contract termination charges of $4.0 million to $7.0 million and asset related charges of $4.3 million within the Engineered Materials segment, with $1.4 million related to decommissioning charges and $2.9 million related to accretion expense, and asset related charges of $0.7 million within the Polymer Solutions segment related to accretion expense. All other asset related charges related to the Engineered Materials and Polymer Solutions segment are expected to be paid by the end of 2028.

The following table summarizes the charges by segment related to the 2025 Restructuring Plan:

---

| | |
|:---|:---|
| | **Three Months Ended** <br>**March 31,**  |
| <br>**2025 Restructuring Plan Charges by Segment** | **2026** |
| Engineered Materials | $6.6 |
| Polymer Solutions | 1.4 |
| &nbsp;&nbsp;Total | $8.0 |

---

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The following table is a summary of charges incurred related to the 2025 Restructuring Plan:

---

| | |
|:---|:---|
| | **Three Months Ended** <br>**March 31,**  |
| <br>**2025 Restructuring Plan Charges** | **2026** |
| Severance and related benefit costs | $— |
| Asset related charges | 5.1 |
| Contract terminations | 2.9 |
| &nbsp;&nbsp;Total | $8.0 |

---

At March 31, 2026 and December 31, 2025, total liabilities related to the 2025 Restructuring Plan includes $10.7 million and $11.1 million, respectively, for severance and related benefit costs, and $20.6 million and $21.9 million, respectively, for contract termination charges, were included within "Accrued and other current liabilities" in the consolidated balance sheets.

The following table summarizes the activities related to the 2025 Restructuring Plan:

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| | | | | |
|:---|:---|:---|:---|:---|
| **2025 Restructuring Plan** | **Severance and Related Benefit Cost** | **Asset Related Charges (2)** | **Contract Terminations** | **Total** |
| Reserve balance at December 31, 2025 | $11.1 | $— | $21.9 | $33.0 |
| Restructuring charges |  | 2.7 | 2.9 | 5.6 |
| Payments <sup>(1)</sup> | (0.4) |  | (4.2) | (4.6) |
| Asset write-offs |  | (2.7) |  | (2.7) |
| Reserve balance at March 31, 2026 | $10.7 | $— | $20.6 | $31.3 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes immaterial impacts of foreign currency remeasurement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Does not include $1.7 million of accelerated depreciation and $0.7 million of accretion expense incurred during the three months ended March 31, 2026 related to the asset retirement obligation at Schkopau and Porto Marghera. Refer to Note 13 for further information on the asset retirement obligation activity at Schkopau and Porto Marghera.

*2024 Restructuring Plan and Stade Shutdown*

On September 26, 2024, the Board of Directors of the Company approved a restructuring plan ("2024 Restructuring Plan") designed to reduce costs by streamlining commercial and operational activities and to further improve profitability and better position the Company for longer term growth and cash flow generation. The 2024 Restructuring Plan included: (i) combining the management of Engineered Materials, Plastics Solutions and Polystyrene businesses, (ii) a reduction in workforce of supporting functions, and (iii) the exit of virgin polycarbonate production at its Stade, Germany production facility. On November 13, 2024, the Company announced its decision to exit its Stade, Germany polycarbonate plant ("Stade Shutdown").

The Company recorded net pre-tax restructuring charges of $63.6 million inception-to-date under the 2024 Restructuring Plan and Stade Shutdown, consisting of $22.7 million of severance and related benefit costs, $29.0 million of asset related charges, and $11.9 million of contract terminations. Asset-related charges include $19.9 million related to the accelerated depreciation for the asset retirement cost and $5.6 million in accelerated depreciation charges of plant, property and equipment associated with the exit of the Company's Stade, Germany plant and other charges of $3.5 million.

The Company expects to incur incremental contract terminations of $8.0 million to $10.0 million and asset related charges of $0.8 million within the Polymer Solutions segment. The majority of charges related to the 2024 Restructuring Plan and Stade Shutdown are expected to be paid by the end of 2027.

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The following table summarizes the charges (credits) incurred by segment related to the 2024 Restructuring Plan and Stade Shutdown:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2024 Restructuring Plan and Stade Shutdown Charges (Credits) by Segment** | **2026** | **2025** |
| Engineered Materials | $— | $(0.3) |
| Latex Binders |  |  |
| Polymer Solutions | 1.3 | 2.6 |
| Corporate <sup>(1)</sup> |  | 0.1 |
| &nbsp;&nbsp;Total | $1.3 | $2.4 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The charges related to this restructuring plan that were not allocated to a specific segment were included within Corporate as unallocated charges.

The following table is a summary of charges (credits) incurred related to the 2024 Restructuring Plan and Stade Shutdown:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2024 Restructuring Plan and Stade Shutdown Charges (Credits)** | **2026** | **2025** |
| Severance and related benefit costs (credits) | $0.1 | $(0.6) |
| Asset related charges | 0.3 | 1.0 |
| Contract terminations | 0.9 | 2.0 |
| &nbsp;&nbsp;Total | $1.3 | $2.4 |

---

At March 31, 2026 and December 31, 2025, total liabilities related to the 2024 Restructuring Plan and Stade Shutdown were $7.7 million and $14.2 million, respectively for severance and related benefit costs, were included within "Accrued and other current liabilities" in the consolidated balance sheets.

The following table summarizes the activities related to the 2024 Restructuring Plan and Stade Shutdown:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2024 Restructuring Plan and Stade Shutdown** | **Severance and Related Benefit Cost** | **Asset Related Charges** <sup>(2)</sup> | **Contract Terminations** | **Total** |
| Reserve balance at December 31, 2025 | $14.2 | $— | $— | $14.2 |
| Restructuring charges | 0.1 |  | 0.9 | 1.0 |
| Payments <sup>(1)</sup> | (6.6) |  | (0.9) | (7.5) |
| Asset write-offs |  |  |  |  |
| Reserve balance at March 31, 2026 | $7.7 | $— | $— | $7.7 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes immaterial impacts of foreign currency remeasurement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Excludes $0.3 million of accretion expense incurred during the three months ended March 31, 2026 related to the asset retirement obligation liability at Stade, Germany. Refer to Note 13 for further information on the asset retirement obligation activity at Stade, Germany.

*2023 Asset Optimization and Corporate Restructuring*

On August 23, 2023, the Company announced a restructuring plan ("2023 Asset Optimization and Corporate Restructuring plan") to optimize its polymethyl methacrylates ("PMMA") sheet network, primarily in Europe, consolidate manufacturing operations and certain other workforce reductions to streamline its general & administrative network. The Asset Optimization and Corporate Restructuring plan includes closure of certain plants and product lines. On October 26, 2023, the Company approved additional actions.

The Company recorded net pre-tax restructuring charges of $86.1 million inception-to-date under the Asset Optimization and Corporate Restructuring plan, consisting of $17.4 million of severance and related benefit costs, $59.5

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million of asset related charges, and $9.2 million of contract terminations costs. Asset-related charges include $32.6 million of accelerated depreciation charges of plant, property and equipment, and decommissioning and other charges of $26.9 million associated with the plant and production closures. The Company expects to incur an incremental $0.4 million of asset related charges through the end of 2026. The majority of the employee termination benefit charges are expected to be paid by the end of 2026.

The following table summarizes the charges (credits) incurred by segment related to the 2023 Asset Optimization and Corporate Restructuring plan:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2023 Asset Optimization and Corporate Restructuring Plan Charges (Credits) by Segment** | **2026** | **2025** |
| Engineered Materials | $— | $0.1 |
| Polymer Solutions | 1.5 | 2.4 |
| Corporate <sup>(1)</sup> |  | (0.1) |
| &nbsp;&nbsp;Total | $1.5 | $2.4 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The charges related to this restructuring plan that were not allocated to a specific segment were included within Corporate as unallocated charges.

The following table is a summary of charges incurred related to the 2023 Asset Optimization and Corporate Restructuring plan:

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| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2023 Asset Optimization and Corporate Restructuring Plan Charges** | **2026** | **2025** |
| Severance and related benefit costs | $— | $0.3 |
| Asset related charges | 1.5 | 2.1 |
| Contract terminations |  |  |
| &nbsp;&nbsp;Total | $1.5 | $2.4 |

---

At March 31, 2026 and December 31, 2025, total liabilities related to the Asset Optimization and Corporate Restructuring were $1.1 million and $1.1 million, respectively for severance and related benefit costs, were included within "Accrued and other current liabilities" in the consolidated balance sheets.

The following table summarizes the activities related to the 2023 Asset Optimization and Corporate Restructuring plan:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2023 Asset Optimization and Corporate Restructuring Plan** | **Severance and Related Benefit Cost** | **Asset Related Charges** | **Contract Terminations** | **Total** |
| Reserve balance at December 31, 2025 | $1.1 | $— | $— | $1.1 |
| Restructuring charges |  | 1.5 |  | 1.5 |
| Payments <sup>(1)</sup> |  | (1.5) |  | (1.5) |
| Reserve balance at March 31, 2026 | $1.1 | $— | $— | $1.1 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes immaterial impacts of foreign currency remeasurement.

 *2022 Asset Restructuring Plan*

In December 2022, the Company announced a restructuring plan designed to reduce costs, improve profitability, reduce exposure to cyclical markets and elevated natural gas prices, and address market overcapacity ("Asset Restructuring Plan"). The Asset Restructuring Plan encompassed closure of certain underperforming or uncompetitive plants and product lines, including (i) closure of manufacturing operations at the styrene production facility in Boehlen,

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Germany, (ii) closure of one of its production lines at the Stade, Germany polycarbonate plant, and (iii) closure of the PMMA sheet manufacturing site in Matamoros, Mexico.

The Company recorded net pre-tax restructuring charges of $54.9 million inception-to-date under the 2022 Asset Restructuring Plan, consisting of $8.6 million of severance and related benefit costs, $33.3 million of asset related charges, and $13.0 million of contract terminations costs. Asset-related charges include $17.1 million related to the accelerated depreciation for the asset retirement cost at Boehlen, Germany, $7.7 million in accelerated depreciation charges of plant, property and equipment and decommissioning and other charges of $8.5 million.

Substantially all payments for severance and related benefit costs have been paid, the Company expects to incur an incremental $2.2 million primarily related to contract termination charges within the Polymer Solutions segment through 2027.

The following table summarizes the charges (credits) incurred by segment related to the 2022 Asset Restructuring Plan:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2022 Asset Restructuring Plan Charges (Credits) by Segment** | **2026** | **2025** |
| Engineered Materials | $— | $(0.3) |
| Polymer Solutions | 0.2 | (7.5) |
| &nbsp;&nbsp;Total | $0.2 | $(7.8) |

---

The following table is a summary of charges (credits) incurred related to the 2022 Asset Restructuring Plan:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  |
| | **March 31,**  | **March 31,**  |
| <br>**2022 Asset Restructuring Plan Charges (Credits) by Segment** | **2026** | **2025** |
| Severance and related benefit costs (credits) | $— | $(0.3) |
| Asset related charges (credits) <sup>(1)</sup> | 0.1 | (8.1) |
| Contract terminations | 0.1 | 0.6 |
| &nbsp;&nbsp;Total | $0.2 | $(7.8) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Asset related charges (credits) include activities related to an asset retirement obligation at Boehlen, Germany. For the three months ended March 31, 2025, the Company recorded a credit of $(8.1) million reflecting a change in cost estimate related to the asset retirement obligation as the Company was able to realize efficiencies during the initial phase of site demolition.

At March 31, 2026 and December 31, 2025, total liabilities related to the Asset Restructuring Plan were $0.1 million and $0.5 million, respectively for severance and related benefit costs, were included within "Accrued and other current liabilities" in the consolidated balance sheets.

The following table summarizes the activities related to the 2022 Asset Restructuring Plan:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **2022 Asset Restructuring Plan** | **Severance and Related Benefit Cost** | **Asset Related Charges** | **Contract Terminations** | **Total** |
| Reserve balance at December 31, 2025 | $0.5 | $— | $— | $0.5 |
| Restructuring charges |  | 0.1 | 0.1 | 0.2 |
| Payments <sup>(1)</sup> | (0.4) | (0.1) | (0.1) | (0.6) |
| Reserve balance at March 31, 2026 | $0.1 | $— | $— | $0.1 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes immaterial impacts of foreign currency remeasurement.

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**NOTE 5—INCOME TAXES** 

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Provision for income taxes | $9.4 | $6.6 |
| Effective income tax rate | (8.8)% | (9.1)% |

---

Provision for income taxes for the three months ended March 31, 2026 totaled $9.4 million, resulting in an effective tax rate of (8.8)%. Provision for income taxes for the three months ended March 31, 2025 totaled $6.6 million, resulting in an effective tax rate of (9.1)%.

The main driver of the increase in the effective income tax rate for the three months ended March 31, 2026 compared to the prior year was the geographical mix of earnings.

The Organization of Economic Co-operation and Development's ("OECD") Global Anti-Base Erosion ("GloBE") rules under Pillar Two have been enacted by the European Union and other countries in which the Company operates. Based on the current rules as enacted, including the new Side-by-Side package release by the OECD in January 2026, there was not a material impact to tax expense for any period presented. The Company will continue to monitor and evaluate evolving tax legislation in the jurisdictions in which we operate.

**NOTE 6—EARNINGS PER SHARE** 

Basic earnings per ordinary share ("basic EPS") is computed by dividing net income available to ordinary shareholders by the weighted average number of the Company's ordinary shares outstanding for the applicable period. Diluted earnings per ordinary share ("diluted EPS") is calculated using net income available to ordinary shareholders divided by diluted weighted average ordinary shares outstanding during each period, which includes unvested RSUs, option awards, and PSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a net loss because the inclusion of the potential ordinary shares would have an anti-dilutive effect.

The following table presents basic EPS and diluted EPS for the three months ended March 31, 2026 and 2025.

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
| **(in millions, except per share data)** | **2026** | **2025** |
| Earnings: |  |  |
| &nbsp;&nbsp;Net loss | $(115.9) | $(79.0) |
| Shares: |  |  |
| &nbsp;&nbsp;Weighted average ordinary shares outstanding | 36.2 | 35.5 |
| &nbsp;&nbsp;Dilutive effect of RSUs, option awards, and PSUs <sup>(1)</sup> |  |  |
| &nbsp;&nbsp;Diluted weighted average ordinary shares outstanding | 36.2 | 35.5 |
| Loss per share: |  |  |
| &nbsp;&nbsp;Loss per share‒basic | $(3.20) | $(2.22) |
| &nbsp;&nbsp;Loss per share‒diluted | $(3.20) | $(2.22) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Refer to Note 15 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. As the Company recorded a net loss for the three months ended March 31, 2026 and March 31, 2025, potential shares related to equity-based awards have been excluded from the calculation of diluted EPS, as doing so would be anti-dilutive.

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**NOTE 7—INVENTORIES** 

Inventories consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **March 31,** <br>**2026** | **December 31,** <br>**2025** |
| Finished goods | $144.4 | $136.3 |
| Raw materials and semi-finished goods | 145.7 | 146.6 |
| Supplies | 33.3 | 33.1 |
| Total | $323.4 | $316.0 |

---

**NOTE 8—INVESTMENTS IN UNCONSOLIDATED AFFILIATES**

The Company maintains an investment in an unconsolidated affiliate, Americas Styrenics LLC ("Americas Styrenics," a styrene and polystyrene joint venture with Chevron Phillips Chemical Company LP), which is accounted for using the equity method. The results of Americas Styrenics are included within its separate reporting segment.

Americas Styrenics is a privately held company; therefore, a quoted market price for its equity interests is not available. The summarized financial information of the Company's unconsolidated affiliate is shown below.

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Sales | $372.7 | $428.9 |
| Gross profit | $22.6 | $11.1 |
| Net income (loss) | $8.0 | $(2.0) |

---

As of March 31, 2026 and December 31, 2025, the Company's investment in Americas Styrenics was $209.1 million and $206.9 million, respectively, which was $12.3 million and $14.2 million greater than the Company's 50% share of the underlying net assets of Americas Styrenics, respectively. This amount represents the difference between the book value of assets held by the joint venture and the Company's 50% share of the total recorded value of the joint venture's assets, inclusive of certain adjustments to conform with the Company's accounting policies. This difference is being amortized over a weighted average remaining useful life of approximately 2.5 years as of March 31, 2026. The Company did not receive dividends from Americas Styrenics during the three months ended March 31, 2026 and 2025.

**NOTE 9—GOODWILL**

The following table shows changes in the carrying amount of goodwill, by segment, from December 31, 2025 to March 31, 2026:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Engineered** <br>**Materials** | **Latex**<br>**Binders** | **Polymer**<br>**Solutions** | **Americas**<br>**Styrenics** | <br>**Total** |
| **Balance at December 31, 2025** | $15.8 | $16.3 | $35.6 | $— | $67.7 |
| Foreign currency impact | (0.4) | (0.3) | (0.8) |  | (1.5) |
| **Balance at March 31, 2026** | $15.4 | $16.0 | $34.8 | $— | $66.2 |

---

As of March 31, 2026 and December 31, 2025, the reported balance of goodwill included accumulated impairment losses of $646.1 million in the Engineered Materials segment. Continuing into the first quarter 2026, the Company's operating results have been adversely impacted by weakness in demand in consumer end markets as well as overall uncertainty in the global economy. Should these conditions persist, or other events occur, indicating that the estimated future cash flows of the reporting units have declined, the Company may be required to record future non-cash impairment charges related to goodwill.

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**NOTE 10—DEBT & AVAILABLE FACILITIES**

Refer to the Annual Report for definitions of capitalized terms not included herein and further background on the Company's debt structure discussed below. The Company was in compliance with all debt related covenants as December 31, 2025. During the three months ended March 31, 2026, the Company entered into certain amendments and limited waivers with lenders under certain of its credit facilities and elected not to make certain interest payments upon the expiration of the grace period for payment of interest under the Company's Senior Credit Agreement and 2L Notes Indenture (each, as defined below). The Company extended the limited waivers on the AR Securitization Facility on April 14, 2026 to temporarily waive certain acceleration and collateral enforcement rights and remedies until April 30, 2026. The nonpayment of interest or principal beyond the applicable grace period(s) constituted events of default under the Senior Credit Agreement and the 2L Notes Indenture and triggered a cross default under the Refinance Credit Agreement, OpCo Super-Priority Revolver and AR Securitization Facility. As a result, as of March 31, 2026, the Company classified all of its outstanding debt balance as current due to the related events of default.

The Company is continuing to negotiate with its financial stakeholders regarding its capital structure. There can be no assurance that the Company will reach an agreement with its financial stakeholders regarding its capital structure or that any particular transaction will be pursued or consummated.

As of March 31, 2026 and December 31, 2025, outstanding debt facilities consisted of the following:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|  | <br>**Interest Rate as ofMarch 31, 2026** | <br>**Maturity Date** | **Par Value** | **Unamortized Debt Premium and (Discount)** <sup>(1)</sup> | **Carrying Value** | **Unamortized Deferred Financing Fees** <sup>(2)</sup> | **Total Debt, Less Unamortized Deferred Financing Fees** |
| 2029 Refinance Senior Notes <sup>(3)</sup> | 7.625% | May 2029 | $391.0 | $49.2 | $440.2 | $(20.3) | $419.9 |
| Senior Credit Facility |  |  |  |  |  |  |  |
| 2028 Term Loan B | 6.434% | May 2028 | 716.3 | (1.2) | 715.1 | (5.8) | 709.3 |
| OpCo Super-Priority Revolver <sup>(4)</sup> | Various | February 2028 | 265.0 |  | 265.0 |  | 265.0 |
| 2028 Refinance Term Loans | 20.667% | May 2028 | 1266.2 | (17.0) | 1249.2 | (15.8) | 1233.4 |
| Accounts Receivable Securitization Facility <sup>(5)</sup> | Various | January 2028 | 140.0 |  | 140.0 |  | 140.0 |
| Other indebtedness | Various | Various | 3.9 |  | 3.9 |  | 3.9 |
| Total debt |  |  | $2782.4 | $31.0 | $2813.4 | $(41.9) | $2771.5 |
| Less: current portion <sup>(6)</sup> |  |  |  |  |  |  | (2769.3) |
| Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | $2.2 |

---

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | <br>**Interest Rate as ofDecember 31, 2025** | <br>**Maturity Date** | **Par Value** | **Unamortized Debt Premium and (Discount)** <sup>(1)</sup> | **Carrying Value** | **Unamortized Deferred Financing Fees** <sup>(2)</sup> | **Total Debt, Less Unamortized Deferred Financing Fees** |
| 2029 Refinance Senior Notes <sup>(3)</sup> | 7.625% | May 2029 | $388.6 | $53.0 | $441.6 | $(22.1) | $419.5 |
| Senior Credit Facility |  |  |  |  |  |  |  |
| 2028 Term Loan B | 6.584% | May 2028 | 716.3 | (1.3) | 715.0 | (6.5) | 708.5 |
| OpCo Super-Priority Revolver <sup>(4)</sup> | Various | February 2028 | 75.0 |  | 75.0 |  | 75.0 |
| 2028 Refinance Term Loans | 12.412% | May 2028 | 1256.6 | (18.7) | 1237.9 | (17.4) | 1220.5 |
| Accounts Receivable Securitization Facility <sup>(5)</sup> | Various | January 2028 | 118.0 |  | 118.0 |  | 118.0 |
| Other indebtedness | Various | Various | 3.9 |  | 3.9 |  | 3.9 |
| Total debt |  |  | $2558.4 | $33.0 | $2591.4 | $(46.0) | $2545.4 |
| Less: current portion <sup>(6)</sup> |  |  |  |  |  |  | (212.9) |
| Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | Total long-term debt, net of unamortized deferred financing fees | $2332.5 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) This caption includes various original issue accounting adjustments related to original issue premium and discounts,

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all of which are amortized to interest expense using the straight-line method over the related instrument's contractual term.

The Company recorded a debt premium equal to the difference between the carrying value of the exchanged debt and the principal amount of the 7.625% second lien senior notes due 2029 (the "2029 Refinance Senior Notes"). The unamortized balance of this debt premium was $49.2 million as of March 31, 2026 and $53.0 million as of December 31, 2025.

The 2028 Term Loan B was issued at a 0.5% original issue discount, whose unamortized balance was $1.2 million as of March 31, 2026 and $1.3 million as of December 31, 2025.

The 2028 Refinance Term Loans were issued at a 3.0% original issue discount, whose unamortized balance was $17.0 million as of March 31, 2026 and $18.7 million as of December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(2) This caption does not include deferred financing fees related to the Company's revolving facilities, which are included within "Deferred charges and other assets" on the condensed consolidated balance sheets.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The 2029 Senior Notes were partially exchanged on January 17, 2025 for the 2029 Refinance Senior Notes and the remaining $0.5 million was fully repaid on March 20, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Under the OpCo Super-Priority Revolver, the Company had a capacity of $300.0 million with capacity of $60.0 million under the letter of credit subfacility. As of March 31, 2026, the Company had funds available for borrowing of $1.9 million (net of the applicable $33.1 million outstanding letters of credit as defined in the secured credit agreement). Additionally, the Company is required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum.

The OpCo Super-Priority Revolver features a springing covenant which applies when 30% or more of the OpCo Super-Priority Revolver's capacity is drawn which then requires the Company to meet a superpriority lien net leverage ratio (as defined in the secured credit agreement) not to exceed 1.50x at the end of each financial quarter. As of March 31, 2026, the outstanding borrowings did exceed the 30% threshold and the superpriority lien net leverage ratio was 0.02x.

&nbsp;&nbsp;&nbsp;&nbsp;(5) As of March 31, 2026, this facility had a borrowing capacity of $150.0 million and $140.0 million outstanding under the facility. As of March 31, 2026 the Company had $145.5 million of accounts receivable available to support this facility, based on the pool of eligible accounts receivable, and had $5.5 million additional funds available for borrowing.

As of December 31, 2025, this facility had a borrowing capacity of $150.0 million, and $118.0 million outstanding under the facility. As of December 31, 2025 the Company had $121.2 million of accounts receivable available to support this facility, based on the pool of eligible accounts receivable, and had $3.2 million of additional funds available for borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;(6) The current portion of long-term debt as of March 31, 2026 was primarily related to the Company's external debt instruments including the 2029 Refinance Senior Notes, the 2028 Term Loan B, the 2028 Refinance Term Loans, the OpCo Super-Priority Revolver and the AR Securitization Facility. As the Company was in default, as described above, the principal balances, unamortized debt premium and discounts, and unamortized deferred financing fees on the 2028 Refinance Term Loans, 2028 Term Loan B, and 2029 Refinance Senior Notes were reclassified to current portion of long-term debt as of March 31, 2026.

The current portion of long-term debt as of December 31, 2025 was primarily related to $118.0 million outstanding under the AR Securitization Facility, $75.0 million outstanding under the OpCo Super-Priority Revolver, as well as $19.9 million mostly related to the scheduled future principal payments on both the 2028 Term Loan B and the 2028 Refinance Term Loans.

*2029 Refinance Senior Notes*

On December 16, 2024, the Company commenced a private offer to exchange (the "Exchange Offer") the Company's 2029 Senior Notes for the 2029 Refinance Senior Notes. Upon completion of the Exchange Offer, the Company executed an indenture (the "2L Note Indenture") pursuant to which they issued $379.5 million aggregate principal amount of 2029 Refinance Senior Notes in exchange for the non-cash redemption of $446.5 million of the 2029 Senior Notes. The 2029 Refinance Senior Notes bear interest at a rate of 7.625%, of which for the first six semiannual interest payment dates, 5.125% will be payable in cash and 2.50% will be payable in-kind either by increasing the principal amount of the outstanding 2029 Refinance Senior Notes, or, at the Company's option, in cash; and thereafter,

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the entire 7.625% per annum will be payable in cash. Interest on the 2029 Refinance Senior Notes will be paid semiannually on February 15 and August 15 of each year, commencing on August 15, 2025. The 2029 Refinance Senior Notes mature on May 3, 2029.

On February 17, 2026, the Company elected to utilize a contractually-available 30-day grace period for the payment due under the 2L Note Indenture. The Company elected to delay its next interest payment on the 2029 Refinance Senior Notes in the amount of approximately $10.0 million.

The Company did not make the required interest payment by March 19, 2026, which resulted in an event of default under the 2L Note Indenture. Following an event of default the 2029 Refinance Senior Notes are subject to the terms of an intercreditor agreement which prohibits holders from enforcing any collection action against any collateral secured by the 2029 Refinance Senior Notes for 180 days. To date, no notice or declaration of acceleration has been made with respect to the 2L Notes.

*Senior Credit Facility 2028 Term Loans*

On May 3, 2021, the Company entered into an amendment to the existing credit agreement dated as of September 6, 2017 to borrow a new tranche of term loans in an aggregate amount of $750.0 million senior secured term loan B facility maturing in May 2028 (the "2028 Term Loan B"). The 2028 Term Loan B bears an interest rate of SOFR plus 2.50%, subject to a 0.00% SOFR floor, and was issued at a 0.5% original issue discount. Further, the 2028 Term Loan B requires scheduled quarterly payments in amounts equal to 0.25% of the original principal amount of the 2028 Term Loan B, with the balance to be paid at maturity.

On February 16, 2026, in connection with ongoing discussions with its financial stakeholders, the Company entered into an amendment (the "Amendment") to the Senior Credit Facility governing our 2028 Term Loan B. The Amendment extended, through March 19, 2026, the grace period for any interest payment under the Senior Credit Facility. On February 27, 2026, the Company elected to utilize this contractually-available grace period and delayed the approximately $12.0 million interest payment due on the 2028 Term Loan B.

The Company did not make the required interest payment by March 19, 2026, resulting in an event of default under the Senior Credit Facility. On March 19, 2026, the Company entered into an amendment and limited waiver (the "Senior Credit Facility Waiver"), pursuant to which, the requisite lenders agreed to, among other things: (i) temporarily waive certain acceleration and collateral enforcement rights and remedies under the facility until April 30, 2026, arising from the nonpayment of interest or principal beyond the applicable grace periods under the Senior Credit Agreement, the Refinance Credit Agreement, and the 2L Notes Indenture, and other related notice and cross-defaults, (ii) amend certain financial reporting and notice covenants, and (iii) amend certain other definitions, covenants and provisions.

*OpCo Super-Priority Revolver*

On January 17, 2025, certain subsidiaries of the Company entered into a credit agreement, pursuant to which the lenders thereunder provided a new super-priority revolving credit facility in an aggregate amount of $300.0 million, with a $60.0 million letter of credit subfacility, maturing in February 2028 (the "OpCo Super-Priority Revolver").

On March 19, 2026, the Company entered into an amendment (the "Revolver Amendment") to our OpCo Super-Priority Revolver, pursuant to which the lenders agreed to, among other things: (i) remove the anti-cash hoarding provisions, (ii) remove the minimum liquidity financial covenant, (iii) amend certain financial reporting and notice covenants, and (iv) amend certain other definitions, covenants and provisions.

Also on March 19, 2026, the Company also entered into an amendment and limited waiver to the OpCo Super-Priority Revolver (the "Revolver Waiver"). Under the Revolver Waiver the lenders agreed to, among other things: (i) temporarily waive certain acceleration and collateral enforcement rights and remedies under the facility until April 30, 2026, arising from the nonpayment of interest or principal beyond the applicable grace periods under the Refinance Credit Agreement, the Senior Credit Agreement, and the 2L Notes Indenture, as well as related notices and cross-defaults, and (ii) amend certain other provisions of the facility. In connection with the Revolver Waiver, the Borrowers agreed to pay certain lenders an in-kind consent fee equal to 1.00% of each such lender's commitments under the SuperPriority Revolver. 

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*2028 Refinance Term Loans*

On September 8, 2023, the Company entered into a Credit Agreement (the "2028 Refinance Credit Agreement") which provides for a senior secured term loan facility of $1,077.3 million maturing in May 2028 (the "2028 Refinance Term Loans"). On January 17, 2025, the Company amended the 2028 Refinance Credit Agreement to provide for an additional $115.0 million of term loans maturing in May 2028 (the "Second Tranche Refinance Term Loans"). The 2028 Refinance Term Loans were issued at a 3.0% original issue discount and, along with the Second Tranche Refinance Term Loans, bear interest at a rate per annum equal to Term SOFR (as defined in the 2028 Refinance Credit Agreement) plus 8.50%, subject to a 3.00% SOFR floor. Further, the 2028 Refinance Term Loans require scheduled quarterly payments in amounts equal to 0.25% of the original principal amount, with the balance to be paid at maturity.

On March 19, 2026, the Company entered into an amendment and limited waiver (the "Refinance Credit Facility Waiver"), pursuant to which the requisite lenders agreed to, among other things: (i) temporarily waive certain acceleration and collateral enforcement rights and remedies under the facility until April 30, 2026, arising from nonpayment of interest or principal beyond the applicable grace periods under the Refinance Credit Agreement, the Senior Credit Agreement, and the 2L Notes Indenture, and other related notice and cross-defaults, (ii) amend certain financial reporting and notice covenants, and (iii) amend certain other definitions, covenants and provisions.. In connection with the Refinance Credit Facility Waiver, the borrowers under the Refinance Credit Agreement agreed to pay certain lenders an in-kind consent fee equal to 1.00% of the aggregate outstanding principal amount of the loans of each such lender under the Refinance Credit Agreement in the amount of $12.5 million.

*Accounts Receivable Securitization Facility*

On July 18, 2024, the Company entered into a revolving credit facility (the "Accounts Receivable Securitization Facility") for the securitization of trade receivables. The Accounts Receivable Securitization Facility has a maximum borrowing limit of $150.0 million, subject to qualified outstanding trade receivables, and matures in January 2028, with an optional one-year extension. Borrowings under the Accounts Receivable Securitization Facility bear interest at a rate per annum equal to Adjusted Term SOFR or EURIBOR (each as defined in the Accounts Receivable Securitization Facility credit agreement, subject to a 1.00% floor), depending on the borrowing currency, plus a margin of 4.75% and the Company incurs interest on a minimum of $75.0 million of advances, irrespective of actual amounts outstanding.

On February 24, 2026, the Company entered into an amendment (the "First Amendment") to our Accounts Receivable Securitization Facility. The First Amendment waives the requirement for certain compliance certificate deliverables.

On March 19, 2026, the Company entered into an amendment and limited waiver (the "Securitization Waiver"), pursuant to which, the requisite amount of lenders agreed to, among other things: (i) temporarily waive certain acceleration and collateral enforcement rights and remedies under the facility until April 2, 2026, arising from the nonpayment of interest or principal beyond the applicable grace period under the Senior Credit Agreement, Refinance Credit Agreement and SuperPriority Revolver, and other related notice and cross-defaults, and (ii) amend certain financial reporting and notice covenants.

On April 10, 2026, the Company entered into an amendment and limited waiver pursuant to which, the requisite amount of lenders agreed to, among other things: (i) extend the temporary limited waiver of certain acceleration and collateral enforcement rights and remedies under the facility until April 30, 2026 arising from the nonpayment of interest or principal beyond the applicable grace period under the Senior Credit Agreement, Refinance Credit Agreement and SuperPriority Revolver, and other related notice and cross-defaults, (ii) reduce the advance rate thereunder from 92.5% to 90.0%, and (iii) amend certain financial reporting and notice covenants.

*Compliance with Debt Covenants*

On March 19, 2026, the Company entered into an amendments and limited waivers to our Refinance Credit Agreement and OpCo Super-Priority Revolver, pursuant to which, among other things, the lenders thereunder agreed to (i) remove the anti-cash hoarding provisions thereunder, (ii) remove the minimum liquidity financial covenant thereunder, (iii) amend certain financial reporting and notice covenants thereunder, and (iv) amend certain other definitions, covenants and provisions thereunder.

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Although no longer a requirement under the amended debt agreements, the Company determined it had Liquidity of $114.2 million as of March 31, 2026, comprised of $106.8 million of cash and cash equivalents held at certain of the Company's restricted subsidiaries and approximately $7.4 million of funds available for borrowing under the OpCo Super-Priority Revolver and the Accounts Receivable Securitization Facility, $1.9 million and $5.5 million, respectively.

*Payment-in-kind Elections*

Under the terms of the 2028 Refinance Credit Agreement, through September 8, 2025, the Company could, at its discretion, make a payment in kind election ("PIK Interest Election") to convert a portion of the quarterly interest margin payable to principal, and the converted principal is subject to an additional 1.00% margin. Under the terms of the 2L Note Indenture, the Company will make a PIK Interest Election for 2.50% of the annual interest payable for each of its first six semi-annual interest payments starting on August 15, 2025 through February 15, 2028. The Company may elect to pay interest on the 2L Note Indenture in cash at its discretion.

During the three months ended March 31, 2026 and the twelve months ended December 31, 2025, the Company executed the PIK Interest Election on the 2029 Refinance Senior Notes, to defer payment of a portion of the quarterly interest margin payable in the amount of $2.4 million and $9.1 million, respectively, by capitalizing the amounts as principal payments due at maturity.

The Company has deferred $101.4 million and $99.0 million of interest payable that is capitalized as long-term debt and payable at maturity as of March 31, 2026 and December 31, 2025, respectively.

**NOTE 11—FINANCIAL INSTRUMENTS AND DERIVATIVES** 

The Company's ongoing business operations expose it to various risks, including fluctuating foreign exchange rates, interest rate risk, and commodity price risk, in particular natural gas. To manage these risks, when possible, the Company periodically enters into derivative financial instruments, such as foreign exchange forward contracts, interest rate swap agreements, and commodity swap agreements, forward contracts, or options. The Company does not hold or enter into financial instruments for trading or speculative purposes. All derivatives are recorded on the condensed consolidated balance sheets at fair value.

*Foreign Exchange Forward Contracts*

Certain subsidiaries have assets and liabilities denominated in currencies other than their respective functional currencies, which creates foreign exchange risk. The Company's principal strategy in managing its exposure to changes in foreign currency exchange rates is to naturally hedge the foreign currency-denominated liabilities on its balance sheet against corresponding assets of the same currency, such that any changes in liabilities due to fluctuations in exchange rates are offset by changes in their corresponding foreign currency assets. In order to further reduce this exposure, when possible, the Company also uses foreign exchange forward contracts to economically hedge the impact of the variability in exchange rates on assets and liabilities denominated in certain foreign currencies. These derivative contracts are not designated for hedge accounting treatment and as a result, any mark-to-market fluctuations are recognized currently at each reporting date within loss before income taxes.

As of March 31, 2026, the Company had no open foreign exchange forward contracts.

*Commodity Cash Flow Hedges & Commodity Economic Hedges*

The Company purchases certain commodities, primarily natural gas, to operate facilities and generate heat and steam for various manufacturing processes, which purchases are subject to price volatility. In order to manage the risk of price fluctuations associated with these commodity purchases, as deemed appropriate, the Company may enter into commodity swaps, forward contracts, or options.

From time to time, the Company uses commodity swap agreements, which effectively convert a portion of its natural gas costs into a fixed rate obligation. These commodity derivatives are designated as cash flow hedges, and the contracts are marked-to-market at each reporting date, and any unrealized gains or losses are included in AOCI, to the extent effective, and reclassified to cost of sales in the period during which the transaction affects earnings or it becomes

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probable that the forecasted transaction will not occur. The Company had no open commodity cash flow hedges as of March 31, 2026.

The Company may also enter into certain commodity swap agreements to economically hedge the impact of these price fluctuations, which are not designated for hedge accounting treatment. There were no open commodity economic hedges as of March 31, 2026.

*Summary of Derivative Instruments*

The following table presents the effect of the Company's derivative instruments, including those not designated for hedge accounting treatment, on the condensed consolidated statements of operations for the three months ended March 31, 2026 and 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Location and Amount of Gain (Loss) Recognized in Statements of Operations**  | **Location and Amount of Gain (Loss) Recognized in Statements of Operations**  | **Location and Amount of Gain (Loss) Recognized in Statements of Operations**  | **Location and Amount of Gain (Loss) Recognized in Statements of Operations**  |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2025** | **March 31, 2025** |
|  | **Cost ofsales** | **Other (expense) income, net** | **Cost ofsales** | **Other (expense) income, net** |
| **Total amount of income and (expense) line items presented in the statements of operations in which the effects of derivative instruments are recorded** | $(663.0) | $(4.2) | $(721.0) | $23.2 |
| The effects of cash flow hedge instruments: |  |  |  |  |
| **Commodity cash flow hedges** |  |  |  |  |
| Amount of loss reclassified from AOCI into income | $— | $— | $(0.3) | $— |
| The effects of derivatives not designated as hedge instruments: |  |  |  |  |
| **Foreign exchange forward contracts** |  |  |  |  |
| Amount of gain (loss) recognized in income | $— | $0.3 | $— | $(10.0) |
| **Commodity economic hedges** |  |  |  |  |
| Amount of loss recognized in income | $— | $— | $(1.9) | $— |

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The following table presents the effect of cash flow hedge accounting on AOCI for the three months ended March 31, 2026 and 2025:

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| | | |
|:---|:---|:---|
|  | **Gain (Loss) Recognized in Other income, net in Statement of Operations** | **Gain (Loss) Recognized in Other income, net in Statement of Operations** |
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Settlements and changes in the fair value of forward contracts (not designated as hedges) | $0.3 | $(10.0) |
| Remeasurement of foreign currency-denominated assets and liabilities | (5.9) | 8.0 |
| Total | $(5.6) | $(2.0) |

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The Company does not expect to reclassify any net loss from AOCI into earnings in the next twelve months as the Company has no outstanding commodity cash flow hedges as of March 31, 2026.

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The following table summarizes the gross and net unrealized gains and losses, as well as the balance sheet classification, of outstanding derivatives recorded in the condensed consolidated balance sheet as of December 31, 2025:

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| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| <br>**Balance Sheet Classification** | **Foreign**<br>**Exchange**<br>**Forward**<br>**Contracts** | <br>**Commodity**<br>**Cash Flow**<br>**Hedges** | <br><br>**Total** |
| **Liability Derivatives:** |  |  |  |
| &nbsp;&nbsp;Accounts payable  | $(1.6) | $(0.1) | $(1.7) |
| &nbsp;&nbsp;Net derivative liability position | $(1.6) | $(0.1) | $(1.7) |
| **Total net derivative position** | $**(1.6)** | $**(0.1)** | $**(1.7)** |

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Forward contracts, interest rate swaps, commodity forward contracts, swaps, or options, and cross currency swaps are entered into with a limited number of counterparties, each of which allows for net settlement of all contracts through a single payment in a single currency in the event of a default on or termination of any one contract. As such, in accordance with the Company's accounting policy, these derivative instruments are recorded on a net basis by counterparty within the condensed consolidated balance sheets.

Refer to Notes 12 and 17 of the condensed consolidated financial statements for further information regarding the fair value of the Company's derivative instruments and the related changes in AOCI.

**NOTE 12—FAIR VALUE MEASUREMENTS** 

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date. The Company did not have any assets or liabilities recorded at fair value on a recurring basis in the condensed consolidated balance sheets as of March 31, 2026:

The following table summarizes the basis used to measure certain assets and liabilities at fair value on a recurring basis in the condensed consolidated balance sheets as of December 31, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| <br>**Assets (Liabilities) at Fair Value** | **Level 1** <sup>(1)</sup> | **Level 2** <sup>(2)</sup> | **Level 3** <sup>(3)</sup> | **Total** |
| Foreign exchange forward contracts—(Liabilities) | $— | $(1.6) | $— | $(1.6) |
| Commodity cash flow hedges—(Liabilities) |  | (0.1) |  | (0.1) |
| Total fair value | $— | $(1.7) | $— | $(1.7) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Valuation is based upon other unobservable inputs that are significant to the fair value measurement.

The Company uses an income approach to value its derivative instruments, utilizing discounted cash flow techniques, considering the terms of the contract and observable market information available as of the reporting date, such as interest rate yield curves and currency spot and forward rates. Significant inputs to the valuation for these derivative instruments are obtained from broker quotations or from listed or over-the-counter market data and are classified as Level 2 in the fair value hierarchy.

*Nonrecurring Fair Value Measurements*

There were no financial assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2025.

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*Fair Value of Debt Instruments* 

The following table presents the estimated fair value of the Company's outstanding debt not carried at fair value as of March 31, 2026 and December 31, 2025:

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| | | |
|:---|:---|:---|
|  | **As of**<br>**March 31, 2026** | **As of**<br>**December 31, 2025** |
| 2028 Refinance Term Loans | $946.1 | $1115.9 |
| 2028 Term Loan B | 88.5 | 71.5 |
| 2029 Refinance Senior Notes | 12.6 | 36.2 |
| Total fair value | $1047.2 | $1223.6 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Total carrying value of the Company's outstanding debt was $2,813.4 million and $2,591.4 million as of March 31, 2026 and December 31, 2025, respectively. See details in Note 10 for further detail.

The fair value of the Company's debt facilities above (each Level 2 securities) is determined using over-the-counter market quotes and benchmark yields received from independent vendors. The fair value presented reflects the Company's carrying value of debt, net of original issuance discount.

There were no other significant financial instruments outstanding as of March 31, 2026 and December 31, 2025.

**NOTE 13—COMMITMENTS AND CONTINGENCIES** 

*Environmental Matters* 

Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law, existing technologies and other information. Pursuant to the terms of the Dow Separation, the pre-closing environmental conditions were retained by Dow, and the Company has been indemnified by Dow from and against all environmental liabilities incurred or relating to the predecessor periods. There are several properties which the Company now owns on which Dow has been conducting investigation, monitoring, or remediation to address historical contamination, including Dalton, Georgia. There are other properties with historical contamination that are owned by Dow that the Company leases for its operations, including its facilities in Midland, Michigan, Schkopau, Germany, and Terneuzen, The Netherlands. Other than certain immaterial environmental liabilities assumed as part of the PMMA Acquisition and the Aristech Surfaces Acquisition, no material environmental claims have been asserted or threatened against the Company. The Company is not a potentially responsible party for any material amounts at any Superfund sites. As of March 31, 2026 and December 31, 2025, the Company had $2.0 million, respectively, of accrued obligations for environmental remediation or restoration costs.

Inherent uncertainties exist in the Company's potential environmental liabilities primarily due to unknown conditions, whether future claims may fall outside the scope of the indemnity, changing governmental regulations and legal standards regarding liability, and evolving technologies for handling site remediation and restoration. In connection with the Company's existing indemnification, the possibility is considered remote that environmental remediation costs will have a material adverse impact on the condensed consolidated financial statements over the next 12 months.

*Asset Retirement Obligations*

The Company has built certain manufacturing facilities on leased land and is required to remove these facilities at the end of the corresponding contract term. Legal obligations for these demolition and decommissioning activities exist in connection with the retirement of these assets triggered upon closure of the facilities. In instances when the Company plans to continue operations at these facilities indefinitely, and therefore, a reasonable estimate of fair value cannot be determined, an asset retirement obligation is not recognized.

In connection with the asset restructuring plans, as described within Note 4, the Company concluded the Boehlen, Germany site, the Stade, Germany site, the Schkopau, Germany site and the Porto Marghera, Italy site no longer had indeterminate lives. Accordingly, the Company recorded the fair value of an asset retirement obligation for each site and a corresponding asset retirement cost, which was capitalized as part of the carrying amount of the related long-lived assets and depreciated over the asset's shortened useful life.

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| | |
|:---|:---|
| **Change in asset retirement obligation** |  |
| Balance at December 31, 2025 | $37.8 |
| Settlements | (8.6) |
| Accretion expense | 1.0 |
| Currency translation adjustment | (0.6) |
| Balance at March 31, 2026 | $29.6 |

---

Accretion expense is included within "Selling, general and administrative expenses" in the condensed consolidated statement of operations. The current portion of the asset retirement obligation is recorded within "Accrued expenses and other current liabilities" and the long-term portion is recorded within "Other noncurrent obligations" in the condensed consolidated balance sheets. As of March 31, 2026 and December 31, 2025, the current portion was $13.4 million and $17.1 million, respectively, and the long-term portion was $16.2 million and $20.7 million, respectively.

*Purchase Commitments* 

In the normal course of business, the Company has certain raw material purchase contracts where it is required to purchase certain minimum volumes at current market prices. These commitments range from one to four years. In certain raw material purchase contracts, the Company has the right to purchase less than the required minimums and pay a liquidated damages fee, or, in case of a permanent plant shutdown, to terminate the contracts. In such cases, these obligations would be less than the annual commitment as disclosed in the Notes to Consolidated Financial Statements included in the Annual Report.

*Litigation Matters* 

From time to time, the Company may be subject to various legal claims and proceedings incidental to the normal conduct of business, relating to such matters as employees, product liability, antitrust/competition, past waste disposal practices and release of chemicals into the environment. While it is impossible at this time to determine with certainty the ultimate outcome of these routine claims, the Company does not believe that the ultimate resolution of these claims will have a material adverse effect on the Company's results of operations, financial condition or cash flow. Legal costs, including those legal costs expected to be incurred in connection with a loss contingency, are expensed as incurred.

*Environmental Proceedings related to the Bristol Spill*

On March 25, 2023, the Company received a Notice of Federal Interest from the United States Coast Guard ("USCG"), identifying the Company as a "potentially responsible party" ("PRP") related to the Bristol Spill. The Company also received a Notice of Federal Assumption and an Administrative Order, dated April 20, 2023 from the USCG, identifying the Company as a PRP related to the Bristol Spill. The USCG notices and order do not designate specific fines or penalties against the Company. In October 2023, the Pennsylvania Department of Environmental Protection (PADEP) notified the Company of its intent to impose penalties related to a Notice of Violation dated April 26, 2023 alleging water violations associated with the Spill. Discussions between the Company and PADEP are ongoing. In December 2023, the Company established an accrual for the estimated resolution of this matter, and such loss is not expected to be material to our business.

It is not possible at this time for the Company to estimate its ultimate liability pursuant to these matters or other potential administrative or criminal actions related to the Bristol Spill, whether a material loss to our business is probable or remote, or estimate a potential range of loss, if any.

*Synthos Matter*

On November 21, 2022, the Company received formal notice from the German Arbitration Institute that Synthos had initiated an arbitration dispute on October 14, 2022 against Trinseo and its following subsidiaries: Trinseo Deutschland GmbH, Trinseo Belgium BV, Trinseo Europe GmbH, and Trinseo Export GmbH, related to Synthos' purchase of Trinseo's Rubber Business in 2021.

Synthos and Trinseo are parties to an asset purchase agreement ("APA") dated May 21, 2021, whereby Trinseo transferred its Rubber Business to Synthos, pending regulatory approval and other administrative pre-closing conditions,

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for an enterprise value of approximately $491.0 million. This transaction formally closed on December 1, 2021. Synthos claims that Trinseo did not properly disclose certain information including the natural gas pricing mechanism for the steam which is supplied by a third party to the Rubber Business. Synthos is seeking monetary damages related to the spike of utility prices in Germany that commenced in the fall of 2021. On December 7, 2023, Synthos filed an adjusted motion with the German Arbitration Institute clarifying its claims for monetary damages. On April 26, 2024, Trinseo filed a statement of defense and counterclaim in response to Synthos' adjusted motion. On September 27, 2024, Synthos filed a Statement of Reply to reduce its monetary damages claim and filed a statement of defense to Trinseo's counterclaim. On February 10, 2025, Trinseo filed a statement of rejoinder in defense of Synthos' claims and a reply to Synthos' statement of defense of Trinseo's counterclaim. On March 21, 2025, Synthos filed a further statement of defense against Trinseo's counterclaim. During the week of May 19, 2025, an arbitration hearing was held before an arbitration tribunal convened by the German Arbitration Institute, following which the tribunal set a schedule for submission of post-hearing briefings ending during the fourth quarter 2025. The parties submitted respective final substantive briefs to the arbitration tribunal over July, August and September 2025. Additional briefs related to potential reimbursement of legal fees and other costs incurred were submitted in fourth quarter 2025. A decision from the arbitration tribunal is expected this year.

The Company continues to believe it has valid and prevailing defenses to Synthos' claims and intends to vigorously defend itself against all allegations.

**NOTE 14—PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS** 

The components of net periodic benefit costs for all significant plans were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  | **March 31,**  | **March 31,**  |
|  | **Non-U.S. Defined Benefit Pension Plans** | **Non-U.S. Defined Benefit Pension Plans** | **U.S. Defined Benefit Pension**  | **U.S. Defined Benefit Pension**  |
|  | **2026** | **2025** | **2026** | **2025** |
| **Net periodic benefit cost** |  |  |  |  |
| Service cost | $1.6 | $1.7 | $0.1 | $0.2 |
| Interest cost | 1.6 | 1.4 | 0.2 | 0.2 |
| Expected return on plan assets | (0.1) | (0.1) | (0.2) | (0.3) |
| Amortization of net gain | (1.3) | (0.5) |  |  |
| Settlement and curtailment gain | (0.6) |  |  |  |
| Net periodic benefit cost | $1.2 | $2.5 | $0.1 | $0.1 |

---

The Company had less than $0.4 million of net periodic benefit costs for its other postretirement plans for the three months ended March 31, 2026 and 2025.

Service cost related to the Company's defined benefit pension plans and other postretirement plans is included within "Cost of sales" and "Selling, general and administrative expenses," whereas all other components of net periodic benefit cost are included within "Other expense (income), net" in the condensed consolidated statements of operations. As of March 31, 2026 and December 31, 2025, the Company's benefit obligations included primarily in "Other noncurrent obligations" in the condensed consolidated balance sheets were $183.8 million and $186.9 million, respectively.

The Company made cash contributions and benefit payments to unfunded plans of approximately $2.4 million during the three months ended March 31, 2026. The Company expects to make additional cash contributions, including benefit payments to unfunded plans, of approximately $9.1 million to its defined benefit plans for the remainder of 2026.

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**NOTE 15—SHARE-BASED COMPENSATION**

Refer to the Annual Report for definitions of capitalized terms not included herein and further background on the Company's share-based compensation programs included in the tables below. The Company's board of directors approved the 2014 Omnibus Plan, adopted on May 28, 2014 and last amended on June 25, 2025 under which 10.0 million ordinary shares is the maximum number that may be delivered upon satisfaction of awards granted.

The following table summarizes the Company's share-based compensation expense for the three months ended March 31, 2026 and 2025, as well as unrecognized compensation cost as of March 31 2026:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **March 31, 2026** | **March 31, 2026** |
|  | **March 31,**  | **March 31,**  | | |
|  | **2026** | **2025** | **Unrecognized**<br>**Compensation Cost** | **Weighted**<br>**Average Years** |
| RSUs | $0.6 | $2.8 | $0.7 | 0.7 |
| Options |  | 0.1 |  |  |
| PSUs | 0.4 | 0.6 | 1.6 | 1.6 |
| Restricted Cash Units ("RCUs") <sup>(1)</sup> | (1.1) | 2.2 | 0.7<br><sup>(2)</sup> | 1.3 |
| Total share-based compensation expense | $(0.1) | $5.7 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) In January 2026, the Company approved one-time conditional retention bonus awards for certain executive officers and, subject to the terms of the awards, agreed to the cancellation of unvested cash-settled long-term incentive awards previously granted under the Company's Amended and Restated 2014 Omnibus Incentive Plan. There were 1,115,886 RCUs that were forfeited in the three months ended March 31, 2026 related to the one-time conditional retention bonus awards.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Unrecognized Compensation Cost related to RCU awards as of March 31, 2026 is calculated using the stock price, subject to certain minimum and maximum amounts, as of March 31, 2026 .

**NOTE 16—SEGMENTS AND GEOGRAPHIC INFORMATION** 

The Company's Chief Executive Officer, who is the chief operating decision maker, manages the Company's operations under four segments: Engineered Materials, Latex Binders, Polymer Solutions, and Americas Styrenics. The Engineered Materials segment includes the Company's compounds and blends products sold into higher growth and value applications, such as consumer electronics, medical, automotive, and other applications, as well as soft thermoplastic elastomers ("TPEs") products which are sold into markets such as footwear and automotive. Additionally, the Engineered Materials segment also includes PMMA and MMA products, which are sold into a variety of applications including automotive, building & construction, medical, consumer electronics, and wellness, among others. The Latex Binders segment produces styrene-butadiene ("SB") latex and other latex polymers and binders, primarily for coated paper and packaging board, carpet and artificial turf backings, as well as a number of performance latex binders applications, such as adhesive, building and construction and the technical textile paper market. The Polymer Solutions segment contains the results of the acrylonitrile butadiene styrene ("ABS"), styrene-acrylonitrile ("SAN"), and polycarbonate ("PC") businesses. The Polymer Solutions segment also includes the results of Heathland, which was acquired in the first quarter of 2022, and the legacy Polystyrene segment, which includes a variety of general purpose polystyrenes ("GPPS") and polystyrene that has been modified with polybutadiene rubber to increase its impact resistant properties ("HIPS"). Lastly, the Americas Styrenics segment consists solely of the operations of the Company's 50%-owned joint venture, Americas Styrenics, a producer of both styrene monomer and polystyrene in North America.

The following table provides disclosure of the Company's segment Adjusted EBITDA, which is the metric used by the chief operating decision maker to measure segment operating performance and is defined below, for the three months ended March 31, 2026 and 2025. Asset and intersegment sales information by reporting segment is not regularly reviewed or included with the Company's reporting to the chief operating decision maker. Therefore, this information has not been disclosed below. Refer to Note 3 for the Company's net sales to external customers by segment and by geography for the three months ended March 31, 2026 and 2025.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Three Months Ended** <sup>(1)</sup> | **Engineered** <br>**Materials** | **Latex**<br>**Binders** | **Polymer**<br>**Solutions** | **Americas**<br>**Styrenics** | **Total**<br>**Segments** | **Corporate**<br>**Unallocated** | <br>**Total** |
| **March 31, 2026** |  |  |  |  |  |  |  |
| Net sales | $263.0 | $196.5 | $265.2 | $— | $724.7 | $— | $724.7 |
| Cost of sales | (242.2) | (179.7) | (241.1) |  | (663.0) |  | (663.0) |
| Selling, general and administrative expenses | (18.7) | (9.4) | (13.3) |  | (41.4) | (46.0) | (87.4) |
| Equity in earnings (losses) of unconsolidated affiliate |  |  |  | 2.1 | 2.1 |  | 2.1 |
| Other income and (expense) |  |  | 0.4 |  | 0.4 | (4.6) | (4.2) |
| Other segment items <sup>(2)</sup> | 2.1 | 0.1 | 4.4 |  | 6.6 | 24.0 | 30.6 |
| Depreciation and amortization expenses <sup>(3)</sup> | 29.5 | 8.9 | 8.1 |  | 46.5 | 3.3 | 49.8 |
| Adjusted EBITDA <sup>(1)</sup> | $33.7 | $16.4 | $23.7 | $2.1 | $75.9 |  |  |
| Investments in unconsolidated affiliate |  |  |  | 209.1 | 209.1 |  | 209.1 |
| Capital expenditures | 4.2 | 4.4 | 2.7 |  | 11.3 |  | 11.3 |
| **March 31, 2025** |  |  |  |  |  |  |  |
| Net sales | $277.3 | $209.3 | $298.2 | $— | $784.8 | $— | $784.8 |
| Cost of sales | (261.1) | (182.6) | (277.3) |  | (721.0) |  | (721.0) |
| Selling, general and administrative expenses | (16.5) | (8.8) | (7.9) |  | (33.2) | (57.8) | (91.0) |
| Equity in earnings (losses) of unconsolidated affiliate |  |  |  | (1.8) | (1.8) |  | (1.8) |
| Other income and (expense) | 0.2 | (0.4) | 25.7 |  | 25.5 | (2.3) | 23.2 |
| Other segment items <sup>(2)</sup> | (0.6) | 0.1 | 7.7 |  | 7.2 | 27.4 | 34.6 |
| Depreciation and amortization expenses <sup>(3)</sup> | 26.4 | 6.9 | (1.9) |  | 31.4 | 4.6 | 36.0 |
| Adjusted EBITDA <sup>(1)</sup> | $25.7 | $24.5 | $44.5 | $(1.8) | $92.9 |  |  |
| Investments in unconsolidated affiliate |  |  |  | 220.8 | 220.8 |  | 220.8 |
| Capital expenditures | 3.4 | 3.6 | 1.1 |  | 8.1 | 0.6 | 8.7 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company's measure of segment operating performance is Adjusted EBITDA, which is defined as income from continuing operations before interest expense, net; provision for income taxes; depreciation and amortization expense; loss on extinguishment of long-term debt and certain debt issuance costs; asset impairment charges; gains or losses on the dispositions of businesses and assets; restructuring charges; acquisition related costs and benefits, and other items. Segment Adjusted EBITDA is the key metric that is used by the chief operating decision maker to evaluate business performance in comparison to budgets, forecasts, and prior year financial results, providing a measure that the chief operating decision maker believes reflects core operating performance by removing the impact of transactions and events that would not be considered a part of core operations.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Other segment items contain activity primarily defined as addbacks to arrive at Adjusted EBITDA included from the loss on extinguishment of long-term debt and certain debt issuance costs; asset impairment charges; gains or losses on the dispositions of businesses and assets; restructuring charges; acquisition related costs and benefits, and other items.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Segment depreciation and amortization expense is included as a component of cost of goods sold; and selling, general, and administrative expense in the amounts regularly provided to the chief operating decision maker and are therefore added back to arrive at Segment Adjusted EBITDA.

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The reconciliation of loss before income taxes to segment Adjusted EBITDA is as follows:

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Loss before income taxes | $(106.5) | $(72.4) |
| Interest expense, net | 78.7 | 66.6 |
| Depreciation and Amortization <sup>(4)</sup> | 49.8 | 36.0 |
| Corporate Unallocated <sup>(5)</sup> | 23.3 | 28.1 |
| Adjusted EBITDA Addbacks <sup>(6)</sup> | 30.6 | 34.6 |
| Segment Adjusted EBITDA | $75.9 | $92.9 |

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&nbsp;&nbsp;&nbsp;&nbsp;(4) During the three months ended March 31, 2026, the Company recognized $9.2 million for accelerated amortization of capitalized software assets related to our transition of current enterprise resource planning ("ERP") system to a cloud based system. During the three months ended March 31, 2025, an $8.1 million credit was recognized due to a change in cost estimate related to the Boehlen, Germany Asset Retirement Obligation as the Company was able to realize efficiencies during decommissioning.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Corporate unallocated includes corporate overhead costs and certain other income and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Adjusted EBITDA addbacks for the three months ended March 31, 2026 and 2025 are as follows:

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
|  | **2026** | **2025** |
| Loss on financing transactions (Note 10) | $— | $24.9 |
| Net gain on disposition of businesses and assets | (3.6) |  |
| Restructuring and other charges (Note 4) | 9.2 | 7.4 |
| Other items <sup>(a)</sup> | 25.0 | 2.3 |
| Total Adjusted EBITDA Addbacks | $30.6 | $34.6 |

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&nbsp;&nbsp;&nbsp;&nbsp;(a) Other items for the three months ended March 31, 2026 primarily relate to fees incurred in connection with the Company's ongoing lender negotiations.

Other items for the three months ended March 31, 2025 primarily relate to fees incurred in conjunction with the Company's strategic initiatives, including the potential divestiture of our styrenics business.

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**NOTE 17—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)**

The components of AOCI, net of income taxes, consisted of:

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| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Three Months Ended March 31, 2026 and 2025** | **Cumulative**<br>**Translation**<br>**Adjustments** | **Pension & Other**<br>**Postretirement Benefit**<br>**Plans, Net** | <br> **Cash Flow**<br>**Hedges, Net** | <br>**Total** |
| Balance at December 31, 2025 | $(120.2) | $32.1 | $7.8 | $(80.3) |
| &nbsp;&nbsp;Other comprehensive income (loss) | (9.0) | 0.6 |  | (8.4) |
| &nbsp;&nbsp;Amounts reclassified from AOCI to net income (loss) <sup>(1)</sup> |  | (1.8) |  | (1.8) |
| Balance as of March 31, 2026 | $(129.2) | $30.9 | $7.8 | $(90.5) |
| Balance at December 31, 2024 | $(170.2) | $20.9 | $7.2 | $(142.1) |
| &nbsp;&nbsp;Other comprehensive income (loss) | 19.5 |  | (0.3) | 19.2 |
| &nbsp;&nbsp;Amounts reclassified from AOCI to net income (loss) <sup>(1)</sup> |  | (0.6) | 0.3 | (0.3) |
| Balance as of March 31, 2025 | $(150.7) | $20.3 | $7.2 | $(123.2) |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) The following is a summary of amounts reclassified from AOCI to net income (loss) for the three months ended March 31, 2026 and 2025:

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  | |
| | **March 31,**  | **March 31,**  | |
| <br>**AOCI Components** | **2026** | **2025** | <br>**Statements of Operations**<br>**Classification** |
| **Cash flow hedging items** |  |  |  |
| Commodity cash flow hedges | $— | $0.3 | Cost of sales |
| &nbsp;&nbsp;Total, net of tax | $— | $0.3 |  |
| **Amortization of pension and other postretirement benefit plan items** |  |  |  |
| Prior service credit | $(0.2) | $(0.2) | (a) |
| Net actuarial gain | (1.5) | (0.7) | (a) |
| Net curtailment and settlement gain | (0.6) |  | (a) |
| &nbsp;&nbsp;Total before tax | (2.3) | (0.9) |  |
| &nbsp;&nbsp;Tax effect | 0.5 | 0.3 | Provision for income taxes |
| &nbsp;&nbsp;Total, net of tax | $(1.8) | $(0.6) |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(a) These AOCI components are included in the computation of net periodic benefit costs (see Note 14).

**NOTE 18—SUBSEQUENT EVENTS**

*Amendment to our Accounts Receivable Securitization Facility*

On April 10, 2026, in connection with ongoing discussions with its financial stakeholders, the Company entered into an amendment (the "Securitization Amendment") to our existing facility for the securitization of trade receivables originated by certain subsidiaries (the "Accounts Receivable Securitization Facility"). The Securitization Amendment waives the requirement for certain compliance certificate deliverables and reduces the advance rate thereunder from 92.5% to 90.0%.

In connection with the Securitization Amendment, the Company agreed to pay a structuring fee equal to 0.25% of the aggregate revolving commitments under the Accounts Receivable Securitization Facility.

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*Amendment to our Senior Credit Facility Agreement* 

On April 10, 2026, the Company entered into an amendment (the "Second Amendment") to our existing super-priority revolving credit facility dated, January 17, 2025 (as amended, the "SuperPriority Revolver"). Certain lenders agreed under the Second Amendment to provide incremental senior secured revolving credit commitments in an aggregate principal amount of $50.0 million (the "2026 Incremental Revolving Facility").

Borrowings under the 2026 Incremental Revolving Facility may be used to fund working capital, general corporate purposes, and any other purposes not prohibited by the SuperPriority Revolver. Amounts repaid may not be reborrowed. The outstanding principal amount of the 2026 Incremental Revolving Facility is due at maturity, which is scheduled for February 2, 2028.

Revolving loans under the 2026 Incremental Revolving Facility bear interest at a rate per annum equal to, at the Company's election: (i) a Term SOFR based rate (subject to a 0.00% floor), plus an applicable margin of 9.00%, or (ii) an alternate base rate (subject to a 0.00% floor), plus an applicable margin of 8.00%. Interest is payable in kind on the applicable payment date. The facility also provides for a quarterly unused line fee of 0.375% on the unused portion of the commitments.

In connection with the Second Amendment, the Company agreed to pay a closing fee to the lenders under the 2026 Incremental Revolving Facility, payable in-kind on the Closing Date, in an amount equal to 3.50% of the aggregate commitments.

*Deferral of Interest Payment to Holders of the 2028 Refinance Term Loans*

As of March 31, 2026, the Company had outstanding $1,266.2 million aggregate principal amount of the 2028 Refinance Term Loans. On April 14, 2026, the Company elected to delay its next interest payment on the 2028 Refinance Term Loans in the amount of approximately $38.2 million.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations** 

**2026 Year-to-Date Highlights**

During the three months ended March 31, 2026, Trinseo recognized net loss of $115.9 million and Adjusted EBITDA of $52.6 million. Adjusted EBITDA for the quarter was impacted by continued low levels of demand due to persistent market uncertainty, which was partially offset by lower fixed costs primarily related to execution of the 2025 Restructuring Plan.

The Company continues to have access to capital resources through available borrowings under its debt structure. However, the Company elected not to make certain contractual interest payments during the quarter and is actively engaged in discussions with its financial stakeholders to review potential alternatives regarding its capital structure.

The Company continues to critically review its liquidity and anticipated capital requirements, including for service of the Company's debt. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of March 31, 2026, the Company had liquidity of $114.2 million and an accumulated deficit of $1,455.2 million and used cash in operating activities of $232.9 million during the quarter ended March 31, 2026. The Company expects continued operating losses and significant cash outflows from operating activities in the near term. Current macroeconomic and geopolitical conditions, including inflation, and ongoing conflicts (such as the Russia-Ukraine war and military conflict in Iran), continue to create significant uncertainty in the broader business environment. These external factors have contributed to weaker demand in many of our end markets and are expected to continue to have a material adverse effect on the Company's financial performance and liquidity forecasts. In addition, the military conflict in Iran has increased longer-term volatility in global energy and raw material markets and heightened uncertainty regarding the availability and reliability of certain feedstocks and logistics beyond the first quarter of 2026.

The Company's debt agreements include financial covenants, which were waived or removed through amendments obtained during the three months ended March 31, 2026. Notwithstanding the removal of these covenants as of March 31, 2026, the Company is in default on these instruments due to nonpayment of interest or principal beyond the applicable grace periods. The Company has obtained waivers from its lenders and negotiated amendments to avoid acceleration of its indebtedness; however, there can be no assurance that any future such waivers or amendments would be available on acceptable terms or at all.

As a result of these factors, the Company has concluded that substantial doubt exists about its ability to continue as a going concern within one year after the date of issuance of these consolidated financial statements.

*New York Stock Exchange Delisting Notification*

On March 2, 2026, we received written notice (the "Notice") from the New York Stock Exchange (the "NYSE") that the NYSE had determined to commence proceedings to delist the Company's ordinary shares. On March 18, 2026, the NYSE filed a Form 25 with the SEC to delist the Company's ordinary shares from the NYSE. The delisting became effective ten days following the filing of Form 25.

*Amendment to Senior Credit Facility Agreement*

On April 10, 2026, the Company executed an amendment to its Super-Priority Revolver that provided incremental senior secured revolving credit commitments in an aggregate principal amount of $50.0 million. This incremental facility provides additional near-term liquidity to support working capital and general corporate purposes during a period of continued market volatility and constrained operating cash flows.

*Exploration for Divestiture of Americas Styrenics*

In March 2024, the Company announced it commenced a sale process for the Company's interest in Americas Styrenics, via the initiation of an ownership exit provision in the joint venture agreement. Trinseo and Chevron Phillips Chemical Company LP, co-owners of Americas Styrenics, have decided to pursue a joint sale process. We, along with our partner, remain committed to sell Americas Styrenics, with our focus being to maximize value, given recent volatility in equity and debt markets, marketing may not occur until there are improvements in those underlying markets.

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*Recent Developments* 

As disclosed in Part I, Item 1A: Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, our business is subject to risks related to the impact of global trade conflicts and the imposition of tariffs by the United States or other countries including those with China, Canada, and the European Union. Although we generally manufacture products and procure raw materials in the regions where our products are sold, these tariffs may negatively impact demand and increase some product costs. Tariffs or other trade restrictions may lead to continuing uncertainty and volatility in U.S. and global financial and economic conditions and commodity markets, declining consumer confidence, significant inflation and diminished expectations for the economy, and ultimately reduced demand for our customers' products resulting in proportionate reductions in demand for our products. Such conditions could have a material adverse impact on our business, results of operations and cash flows.

Recent geopolitical developments have further increased volatility and uncertainty in global trade and commodity markets, which may exacerbate these risks in periods after the first quarter of 2026.

We continue to closely monitor as well as engage with our customers and suppliers to analyze how tariffs could impact our business. We are not able to predict whether such tariffs will be permanent, whether new tariffs will be implemented, or which jurisdictions would be impacted. Uncertainty over global tariffs has and may continue to delay purchasing decisions by our customers as they assess the impact of such trade policies on their business. Further changes in trade policy, trade restrictions, tariffs, or other governmental action have the potential to adversely impact our costs, including prices of raw materials, or demand for our products or our customers' products, which in turn could adversely impact our business, financial condition and results of operations. In addition, ongoing legal and regulatory developments relating to the authority, scope and implementation of tariff regimes may further increase uncertainty regarding the timing, application, modification or removal of existing tariffs or the imposition of new tariffs.

**Results of Operations**

**Results of Operations for the Three months Ended March 31, 2026 and 2025** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  | **March 31,**  | **March 31,**  |
| **(in millions)** | **2026** | **%** | **2025** | **%** |
| Net sales | $724.7 | 100% | $784.8 | 100% |
| Cost of sales | 663.0 | 91% | 721.0 | 92% |
| &nbsp;&nbsp;Gross profit | 61.7 | 9% | 63.8 | 8% |
| Selling, general and administrative expenses | 87.4 | 12% | 91.0 | 12% |
| Equity in earnings (losses) of unconsolidated affiliate | 2.1 | —% | (1.8) | —% |
| &nbsp;&nbsp;Operating loss | (23.6) | (3)% | (29.0) | (4)% |
| Interest expense, net | 78.7 | 11% | 66.6 | 8% |
| Other expense (income), net | 4.2 | 1% | (23.2) | (3)% |
| &nbsp;&nbsp;Loss before income taxes | (106.5) | (15)% | (72.4) | (9)% |
| Provision for income taxes | 9.4 | 1% | 6.6 | 1% |
| &nbsp;&nbsp;Net loss | $(115.9) | (16)% | $(79.0) | (10)% |

---

**Three Months Ended – March 31, 2026 vs. March 31, 2025**

*Net Sales*

Net sales decreased 8% year-over-year, primarily driven by a 9% decrease from lower pricing and a 4% decrease from lower sales volumes across all business segments, primarily due to continued end market demand weakness. The decreases were partially offset by a 5% increase from favorable foreign exchange rate impacts.

*Cost of Sales* 

The 8% decrease in cost of sales was primarily attributable to a 10% decrease due to lower pricing and a 4% decrease due to lower volumes. These decreases were partially offset by a 6% increase from foreign exchange rate impacts.

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*Gross Profit*

The $2.1 million decrease in gross profit was primarily due to both lower volumes and margins. Lower margins were particularly in Polymer Solutions and Latex Binders due to competitive price pressure, particularly in Europe. See the segment discussion below for further information.

*Selling, General and Administrative Expenses (SG&A)*

The $3.6 million, or 4%, decrease in SG&A was primarily due to a $24.9 million decrease in costs associated with the Company's debt refinancing transaction executed in the first quarter of 2025 and a $11.0 million decrease in the Company's salary and wages expense. These decreases were partially offset by a $24.1 million increase of costs related to the Company's ongoing discussions with financial stakeholders, a $9.2 million increase in non-cash accelerated amortization of capitalized software assets related to the transition of the Company's current ERP system to a cloud-based platform, and a $0.5 million increase in the Company's bad debt expense.

*Equity in Earnings of Unconsolidated Affiliate* 

The increase in equity earnings from Americas Styrenics of $3.9 million was due to higher styrene margins in the current year.

*Interest Expense, Net*

The increase in interest expense, net of $12.1 million, or 18%, was primarily attributable to an increase in market interest rates on our variable rate debt, specifically the 2028 Refinance Loans and the 2028 Term Loan B. Refer to Note 10 in the condensed consolidated financial statements for further information.

*Other Expense (Income), Net*

Other expense, net for the three months ended March 31, 2026 was $4.2 million, which was primarily driven by $5.6 million of net foreign exchange transaction losses partially offset by gains related to the non-service cost components of net periodic benefit cost of $0.4 million.

Other income, net for the three months ended March 31, 2025 was $23.2 million, which was primarily driven by $26.0 million of license income for polycarbonate technology, partially offset by net foreign exchange transaction losses of $2.0 million and $0.7 million of expense related to the non-service cost components of net periodic benefit cost.

*Provision for (Benefit from) Income Taxes*

Provision for income taxes for the three months ended March 31, 2026 totaled $9.4 million, resulting in an effective tax rate of (8.8)%. Provision for income taxes for the three months ended March 31, 2025 totaled $6.6 million, resulting in an effective tax rate of (9.1)%.

The increase in provision for income taxes for the three months ended March 31, 2026 is primarily driven by the geographical mix of earnings.

**Outlook** 

The Company expects a delay in demand recovery and lower cumulative growth than previously anticipated. Geopolitical events continue to disproportionally impact European chemical producers through higher energy and input costs. Based on these market dynamics, including the delayed recovery in end-market demand, the Company currently expects 2026 demand levels to be generally consistent with 2025.

At the same time, supply disruptions and feedstock constraints, affecting certain Asian competitors, including shortages of naphtha-based feedstocks, may present opportunities for the Company to capture incremental volumes on an opportunistic basis. The Company will continue to evaluate such opportunities selectively, subject to margin considerations, operational capacity and liquidity constraints.

Proactive management actions taken in 2025 to exit underperforming assets and reduce fixed costs are expected to support improved operational performance relative to what would otherwise be expected under current market

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conditions. The Company continues to execute cash management initiatives and strategic operational plans focused on liquidity preservation, including rigorous evaluation of contractual obligations, working capital management and productivity initiatives to control operating expenses.

As previously disclosed, the Company is engaged in ongoing discussions with its financial stakeholders regarding its capital structure and continues to evaluate potential strategic alternatives, including amendments or modifications to the terms of its outstanding indebtedness. The Company cannot predict, with certainty, the impact that current macroeconomic, geopolitical and market conditions may have on its ability to consummate such transactions on acceptable terms or to obtain future waivers or amendments necessary to address its debt obligations.

**Selected Segment Information**

The following sections describe net sales, Adjusted EBITDA, and Adjusted EBITDA margin by segment for the three months ended March 31, 2026 and 2025. Inter-segment sales have been eliminated. Refer to Note 16 in the condensed consolidated financial statements for further information on our segments, as well as for a detailed definition of Adjusted EBITDA and a reconciliation of income from continuing operations before income taxes to segment Adjusted EBITDA.

**Engineered Materials Segment**

Our Engineered Materials segment consists of rigid thermoplastic compounds and blends products sold into high growth and high value applications in markets such as consumer electronics, medical and automotive, as well as soft thermoplastic elastomers ("TPEs") products which are sold into markets such as footwear and automotive. The Engineered Materials segment also includes polymethyl methacrylates ("PMMA") and MMA products, which are sold into a variety of applications including automotive, building and construction, medical, consumer electronics, and wellness, among others.

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |  |
|  | **March 31,**  | **March 31,**  |  |
| **($ in millions)** | **2026** | **2025** | **% Change** |
| Net sales | $263.0 | $277.3 | (5)% |
| Adjusted EBITDA | $33.7 | $25.7 | 31% |
| Adjusted EBITDA margin | 13% | 9% |  |

---

*Three Months Ended – March 31, 2026 vs. March 31, 2025*

The 5% decrease in net sales was primarily attributable to a 4% decrease due to lower sales volumes, particularly in MMA, and a 4% decrease from lower price due to pass-through of lower raw material costs. This was partially offset by a 3% increase due to favorable foreign exchange rate impacts.

Adjusted EBITDA increased $8.0 million, or 31%, due to increases of $9.0 million, or 35%, from lower fixed costs, $2.4 million, or 9%, from higher margins, and $1.5 million, or 6%, from favorable foreign exchange rate impacts. These increases were partially offset by a $4.7 million, or 18%, decrease due to lower sales volumes and a $0.2 million, or 1%, decrease due to unfavorable currency impacts.

**Latex Binders Segment**

Our Latex Binders segment produces styrene-butadiene latex ("SB latex") and other latex polymers and binders primarily for coated paper and packaging board, carpet and artificial turf backings, as well as a broad range of

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performance latex binders products, including SB latex, styrene-acrylate latex ("SA latex"), and vinylidene chloride latex for coatings, adhesives, sealants, and elastomers ("CASE") applications.

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |  |
|  | **March 31,**  | **March 31,**  |  |
| **($ in millions)** | **2026** | **2025** | **% Change** |
| Net sales | $196.5 | $209.3 | (6)% |
| Adjusted EBITDA | $16.4 | $24.5 | (33)% |
| Adjusted EBITDA margin | 8% | 12% |  |

---

*Three Months Ended – March 31, 2026 vs. March 31, 2025*

The 6% decrease in net sales was primarily attributable to a 12% decrease due to pricing pressures in textile and paper and board applications globally. The decreases were partially offset by higher volumes in CASE and battery binders plus a 5% increase due to favorable foreign exchange rate impacts.

The $8.1 million, or 33%, decrease in Adjusted EBITDA was primarily due to an $8.4 million, or 35%, due to lower margins, and a $2.0 million, or 8%, decrease due to higher fixed costs. These decreases were partially offset by an increase of $1.7 million, or 7%, increase in sales volumes, a $0.4 million, or 2%, increase from favorable currency impacts, and an increase of $0.2 million, or 1%, from favorable foreign exchange rate impacts.

**Polymer Solutions Segment**

Our Polymer Solutions segment consists of a variety of polymers, the majority of which are for building and construction applications. The segment includes our mass acrylonitrile butadiene styrene ("ABS"), styrene-acrylonitrile ("SAN"), and polystyrene businesses, as well as our polycarbonate technology.

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |  |
|  | **March 31,**  | **March 31,**  |  |
| **($ in millions)** | **2026** | **2025** | **% Change** |
| Net sales | $265.2 | $298.2 | (11)% |
| Adjusted EBITDA | $23.7 | $44.5 | (47)% |
| Adjusted EBITDA margin | 9% | 15% |  |

---

*Three Months Ended – March 31, 2026 vs. March 31, 2025*

Net sales decreased by 11% year-over-year, primarily due to an 11% decrease from lower pricing and a 7% decrease from lower sales volumes in polystyrene. The decrease was partially offset by a 7% increase due to favorable foreign exchange rate impacts.

The $20.8 million, or 47%, decrease in Adjusted EBITDA was primarily due to a $26.0 million, or 58%, decrease from prior year licensing revenue, and a $1.3 million, or 3%, decrease from higher fixed costs. The decreases were partially offset by a $4.5 million, or 9%, increase from mix improvement, and a $2.0 million, or 5%, increase from favorable foreign exchange rate impacts.

**Americas Styrenics Segment**

This segment consists solely of the equity earnings from our 50%-owned joint venture, Americas Styrenics, a producer of both styrene monomer and polystyrene in North America. Styrene monomer is a basic building block of plastics and a key input to many of the Company's products, as well as a key raw material for the production of

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polystyrene. Major applications for the polystyrene products Americas Styrenics produces include appliances, food packaging, food service disposables, consumer electronics, and building and construction materials.

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |  |
|  | **March 31,**  | **March 31,**  |  |
| **($ in millions)** | **2026** | **2025** | **% Change** |
| Adjusted EBITDA\* | $2.1 | $(1.8) | 217% |

---

\**The results of this segment are comprised entirely of earnings from Americas Styrenics, our equity method investment. As such, Adjusted EBITDA related to this segment is included within "Equity in earnings of unconsolidated affiliates" in the condensed consolidated statements of operations.*

*Three Months Ended – March 31, 2026 vs. March 31, 2025*

The increase in Adjusted EBITDA was mainly due to stronger styrene and polystyrene performance in the current year.

**Non-GAAP Performance Measures**

We present Adjusted EBITDA as a non-GAAP financial performance measure, which we define as income from continuing operations before interest expense, net; provision for income taxes; depreciation and amortization expense; loss on extinguishment of long-term debt and certain debt issuance costs; asset impairment charges; gains or losses on the dispositions of businesses and assets and related legal costs; restructuring charges; acquisition related costs, certain strategic initiatives and other items. In doing so, we are providing management, investors, and credit rating agencies with an indicator of our ongoing performance and business trends, removing the impact of transactions and events that we would not consider a part of our core operations.

There are limitations to using financial performance measures such as Adjusted EBITDA. This performance measure is not intended to represent net income or other measures of financial performance. As such, it should not be used as an alternative to net income as an indicator of operating performance. Other companies in our industry may define Adjusted EBITDA differently than we do. As a result, it may be difficult to use this, or similarly-named financial measures that other companies may use, to compare the performance of those companies to our performance. We compensate for these limitations by providing a reconciliation of this performance measure to our net income, which is determined in accordance with GAAP.

Adjusted EBITDA is calculated as follows for the three months ended March 31, 2026 and 2025:

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
| **(in millions)** | **2026** | **2025** |
| **Net loss** | $**(115.9)** | $**(79.0)** |
| Interest expense, net | 78.7 | 66.6 |
| Provision for income taxes | 9.4 | 6.6 |
| Depreciation and amortization <sup>(a)</sup> | 49.8 | 36.0 |
| EBITDA <sup>(b)</sup> | $22.0 | $30.2 |
| Loss on financing transactions <sup>(c)</sup> |  | 24.9 |
| Net gain on disposition of businesses and assets | (3.6) |  |
| Restructuring and other charges <sup>(d)</sup> | 9.2 | 7.4 |
| Other items <sup>(e)</sup> | 25.0 | 2.3 |
| **Adjusted EBITDA** | $**52.6** | $**64.8** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) During the three months ended March 31, 2026, the Company recognized $9.2 million for accelerated amortization of capitalized software assets related to our current ERP system now being transitioned to a cloud based system.

During the three months ended March 31, 2025, an $8.1 million credit was recognized due to a change in cost estimate related to the Boehlen, Germany asset retirement obligation as the Company was able to realize efficiencies during decommissioning.

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&nbsp;&nbsp;&nbsp;&nbsp;(b) EBITDA is a non-GAAP financial performance measure that we refer to in making operating decisions because we believe it provides our management as well as our investors and credit agencies with meaningful information regarding the Company's operational performance. We believe the use of EBITDA as a metric assists our board of directors, management, and investors in comparing our operating performance on a consistent basis. Other companies in our industry may define EBITDA differently than we do. As a result, it may be difficult to use EBITDA, or similarly-named financial measures that other companies may use, to compare the performance of those companies to our performance. We compensate for these limitations by providing reconciliations of our EBITDA results to our net income, which is determined in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Amounts for the three months ended March 31, 2026 primarily relate to fees incurred in conjunction with Company's debt refinancing transaction that did not meet the criteria for deferred financing charges as the transaction was accounted for as a modification of debt in accordance with ASC 470-60. Refer to Note 10 in the condensed consolidated financial statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Amounts for the three months ended March 31, 2026 and 2025 primarily relate to charges incurred in connection with the Company's various restructuring programs. Refer to Note 4 in the condensed consolidated financial statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Other items for the three months ended March 31, 2026 primarily relate to fees incurred in connection with the Company's ongoing lender negotiations.

Other items for the three months ended March 31, 2025 primarily relate to fees incurred in conjunction with the Company's strategic initiatives, including the potential divestiture of our styrenics business.

**Liquidity and Capital Resources**

**Cash Flows** 

The table below summarizes our primary sources and uses of cash for the three months ended March 31, 2026 and 2025. We have derived the summarized cash flow information from our unaudited financial statements.

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
| **(in millions)** | **2026** | **2025** |
| **Net cash provided by (used in):** |  |  |
| &nbsp;&nbsp;Operating activities | $(232.9) | $(110.2) |
| &nbsp;&nbsp;Investing activities | (7.7) | (8.7) |
| &nbsp;&nbsp;Financing activities | 207.8 | 32.8 |
| &nbsp;&nbsp;Effect of exchange rates on cash | (2.0) | 2.5 |
| &nbsp;&nbsp;Net change in cash, cash equivalents, and restricted cash | $(34.8) | $(83.6) |

---

*Operating Activities* 

Net cash used in operating activities during the three months ended March 31, 2026 totaled $232.9 million, which included a $125.4 million increase in working capital. Operating cash flows during the three months ended March 31, 2026 were adversely impacted by three primary factors: our normal first quarter seasonality, a contraction in trade credit from suppliers and other counterparties, and higher raw material costs. These impacts were partially offset by the Company's non-payment of certain contractual interest obligations during the quarter and resulted in outsized working capital use relative to historical periods.

Net cash used in operating activities during the three months ended March 31, 2025 totaled $110.2 million, which included a $102.6 million increase in working capital, including the impact of $18.0 million in expenses related to refinancing that were not eligible for capitalization as deferred financing costs.

*Investing Activities* 

Net cash used in investing activities during the three months ended March 31, 2026 totaled $7.7 million, which was primarily attributable to capital expenditures, partially offset by the proceeds received from the sale of assets in connection with certain of the Company's restructuring plans.

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Net cash used in investing activities during the three months ended March 31, 2025 totaled $8.7 million, which was primarily attributable to capital expenditures.

*Financing Activities* 

Net cash provided by financing activities during the three months ended March 31, 2026 totaled $207.8 million. During the three months the Company drew $22.0 million and $230.0 million in proceeds from the Accounts Receivable Securitization Facility and OpCo Super-Priority Revolver, respectively, and repaid $40.0 million from the OpCo Super-Priority Revolver, principally related to funding working capital trade contraction through the quarter.

Net cash provided by financing activities during the three months ended March 31, 2025 totaled $32.8 million. During the three months the Company drew $70.0 million in proceeds from the Accounts Receivable Securitization Facility, and repaid $10.0 million, principally related to funding working capital through the quarter. This activity also included the issuance of additional 2028 Refinance Term Loans ($115.0 million of aggregate principal) in exchange for the redemption of the 2025 Senior Notes ($115.0 million reduction in aggregate principal), $19.8 million of debt issuance costs that met the criteria for deferred financing charges, $0.5 million of dividends paid, and $1.8 million of net repayments of short-term borrowings.

*Free Cash Flow*

We use Free Cash Flow as a non-GAAP measure to evaluate and discuss the Company's liquidity position and results. Free Cash Flow is defined as cash from operating activities, less capital expenditures. We believe that Free Cash Flow provides an indicator of the Company's ongoing ability to generate cash through core operations, as it excludes the cash impacts of various financing transactions as well as cash flows from business combinations that are not considered organic in nature. We also believe that Free Cash Flow provides management and investors with useful analytical indicator of our ability to service our indebtedness, pay dividends (when declared), and meet our ongoing cash obligations.

Free Cash Flow is not intended to represent cash flows from operations as defined by GAAP, and therefore, should not be used as an alternative for that measure. Other companies in our industry may define Free Cash Flow differently than we do. As a result, it may be difficult to use this, or similarly-named financial measures that other companies may use, to compare the liquidity and cash generation of those companies to our own. We compensate for these limitations by providing a reconciliation to cash provided by operating activities from continuing operations, which is determined in accordance with GAAP.

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,**  | **March 31,**  |
| **(in millions)** | **2026** | **2025** |
| Cash used in operating activities | $(232.9) | $(110.2) |
| Capital expenditures | (11.3) | (8.7) |
| **Free Cash Flow** | $**(244.2)** | $**(118.9)** |

---

Refer to the discussion above for significant impacts to cash used in operating activities for the three months ended March 31, 2026 and March 31, 2025.

**Capital Resources and Liquidity** 

We require cash primarily to fund day-to-day operations, purchase raw materials, finance capital expenditures and other initiatives, and service our outstanding indebtedness. Our principal sources of liquidity consist of cash and cash equivalents on hand and availability under the OpCo Super-Priority Revolver and the Accounts Receivable Securitization Facility.

During the three months ended March 31, 2026, the Company elected not to make certain contractual interest and principal payments beyond applicable grace periods under the Senior Credit Agreement and the 2L Notes Indenture. These non-payments constituted events of default under those agreements and triggered cross-defaults under the Refinance Credit Agreement, the OpCo Super-Priority Revolver and the Accounts Receivable Securitization Facility. As

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a result of these events of default, substantially all of the Company's outstanding indebtedness was classified as current as of March 31, 2026.

In connection with the foregoing, the Company and certain of its subsidiaries entered into amendments and limited waivers with its lenders, pursuant to which the requisite lenders agreed, among other things, to temporarily waive certain acceleration and collateral enforcement rights and remedies through April 30, 2026. During the quarter, the Company also amended certain debt agreements to remove anti-cash hoarding provisions and minimum liquidity covenants, and to modify certain financial reporting, notice and other contractual provisions. There can be no assurance that additional waivers or amendments will be available on acceptable terms, or at all.

As of March 31, 2026, the Company had Liquidity (as defined in the applicable debt agreements) of $114.2 million, consisting of $106.8 million of cash and cash equivalents held at certain restricted subsidiaries and approximately $7.4 million of availability under the OpCo Super-Priority Revolver and the Accounts Receivable Securitization Facility.

Net cash used in operating activities during the three months ended March 31, 2026 totaled $232.9 million, including a $125.4 million use of cash from changes in working capital. Operating cash flows during the quarter were adversely impacted by a significant contraction in trade credit from suppliers and other counterparties, which resulted in accelerated payment terms and higher cash outflows for raw materials and other operating costs. These impacts occurred notwithstanding the Company's non-payment of certain contractual interest obligations during the period and resulted in an outsized working capital use relative to historical levels.

As of March 31, 2026 and December 31, 2025, the Company had $2,813.4 million and $2,591.4 million, respectively, of outstanding indebtedness. The Company's debt structure includes the 2029 Refinance Senior Notes, the 2028 Refinance Term Loans, the 2028 Term Loan B, the OpCo Super-Priority Revolver and the Accounts Receivable Securitization Facility, each of which is further described below and in the accompanying notes to the consolidated financial statements.

On April 10, 2026, the Company executed an amendment to its Super-Priority Revolver that provided incremental senior secured revolving credit commitments in an aggregate principal amount of $50.0 million, which has since been fully drawn. This incremental facility provides additional near-term liquidity to support working capital and general corporate purposes during a period of continued market volatility and constrained operating cash flows.

The Company continues to actively manage liquidity through disciplined working capital management, evaluation of contractual obligations and implementation of productivity and cost-reduction initiatives. In addition, as previously disclosed, the Company remains engaged in discussions with its financial stakeholders regarding its capital structure and continues to evaluate potential strategic alternatives, including modifications to the terms of its outstanding indebtedness.

We have incurred recurring net losses and negative operating cash flows and expect to continue operating at a net loss in the near term. While we believe that our current liquidity resources provide near-term flexibility, our ability to meet liquidity requirements longer term remains dependent on market conditions, demand recovery, and the successful execution of any capital structure initiatives. Our liquidity could be depleted more rapidly than anticipated due to further deterioration in demand, additional tightening of trade credit, macroeconomic uncertainty or other factors beyond our control.

**Contractual Obligations and Commercial Commitments** 

There have been no material revisions outside the ordinary course of business to our contractual obligations as described within "Management's Discussion and Analysis of Financial Condition and Results of Operations – Contractual Obligations and Commercial Commitments" within our Annual Report.

**Critical Accounting Policies and Estimates** 

Our unaudited interim condensed consolidated financial statements are based on the selection and application of significant accounting policies. The preparation of unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of

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assets and liabilities and revenues and expenses at the date of and during the reporting period. Actual results could differ from those estimates. However, we are not currently aware of any reasonably likely events or circumstances that would result in materially different results.

We describe our significant accounting policies in Note 2, Basis of Presentation and Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements included in our Annual Report, while we discuss our critical accounting policies and estimates in "Management's Discussion and Analysis of Financial Condition and Results of Operations" within our Annual Report. There have been no material revisions to the significant accounting policies or critical accounting policies and estimates as filed in our Annual Report.

**Off-Balance Sheet Arrangements** 

We do not have any off-balance sheet arrangements.

**Recent Accounting Pronouncements** 

We describe the impact of recent accounting pronouncements in Note 2 of our condensed consolidated financial statements, included elsewhere within this Quarterly Report.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk** 

As discussed in "Quantitative and Qualitative Disclosures About Market Risk" within our Annual Report, we are exposed to changes in interest rates and foreign currency exchange rates as well as changes in the prices of certain commodities that we use in production. There have been no material changes in our exposure to market risks from the information provided within our Annual Report.

**Item 4. Controls and Procedures** 

*Evaluation of Disclosure Controls and Procedures* 

Our management is responsible for establishing and maintaining internal controls designed to provide reasonable assurance that information required to be disclosed by us in our reports that we file or submit under the Exchange Act (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, with the participation of our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company's disclosure controls and procedures as of March 31, 2026. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered by this Quarterly Report were effective to provide the reasonable level of assurance described above.

*Changes in Internal Control over Financial Reporting*

There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during the quarter ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II — OTHER INFORMATION** 

**Item 1. Legal Proceedings** 

From time to time, we may be subject to various legal claims and proceedings incidental to the normal conduct of business, relating to such matters as product liability, antitrust, competition, waste disposal practices, release of chemicals into the environment and other matters that may arise in the ordinary course of our business. Regardless of the outcome, legal proceedings can have an adverse impact on us because of defense and settlement costs, diversion of

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management resources and other factors. For information regarding new matters and material developments in legal proceedings during the quarter ended March 31, 2026, see "Litigation Matters" in Note 13 to our condensed consolidated financial statements.

**Item 1A. Risk Factors** 

Our business faces various risks. Certain important factors may have a material adverse effect on our business prospects, financial condition and results of operations, and you should carefully consider them. Accordingly, in evaluating our business, we encourage you to consider the risk factors related to our ordinary shares as well those risk factors related to our business and industry which have been previously disclosed in Part 1, Item 1A of our Annual Report for the year ended December 31, 2025. Certain material updates to these risk factors are included below.

We encourage you to consider these risks, in their entirety, in addition to other information contained in or incorporated by reference into this Quarterly Report and our other public filings with the SEC. Other events that we do not currently anticipate or that we currently deem immaterial may also affect our business, prospects, financial condition and results of operations.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Recent sales of unregistered securities

None.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Use of Proceeds from registered securities

None.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Purchases of Equity Securities by the Issuer and Affiliated Purchasers

None.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not applicable.

**Item 5. Other Information**

During the three months ended March 31, 2026, no directors or executive officers of the Company adopted or terminated a trading arrangement intended to satisfy the affirmative defenses of Rule 10b5-1 under the Securities Exchange Act of 1934 or a "non-Rule 10b5-1 trading arrangement," as defined in Item 408(a) of Regulation S-K.

**Item 6. Exhibits**

See Exhibit Index.

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit** <br>**No.** | **Description** |
| 3.1 | [Memorandum and Articles of Association of Trinseo PLC, as amended (incorporated herein by reference to Exhibit 3.1 to the Current Report on Form 8-K, filed on June 17, 2022).](https://www.sec.gov/Archives/edgar/data/0001519061/000155837022010104/tse-20220614xex3d1.htm) |
| 4.1 | [Indenture among Trinseo Luxco Finance SPV S.à r.l., Trinseo NA Finance SPV LLC, the guarantors named therein, The Bank of New York Mellon, as trustee, and Alter Domus (US) LLC, as collateral agent, dated as of January 17, 2025 (incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K filed January 21, 2025).](https://www.sec.gov/Archives/edgar/data/1519061/000110465925004689/tm253651d1_ex4-2.htm) |
| 4.2 | [Form of Global Restricted Note due 2029 (incorporated by reference as Exhibit A to Exhibit 4.2 to the Current Report on Form 8-K filed January 21, 2025).](https://www.sec.gov/Archives/edgar/data/1519061/000110465925004689/tm253651d1_ex4-2.htm) |
| 10.1 | [2026 Grace Period Amendment to the Credit Agreement dated September 6, 2017, by and among Trinseo Luxco S.à r.l., Trinseo Holding S.à r.l., Trinseo Materials Finance, Inc. and the lenders party thereto, dated as of February 16, 2026 (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed February 17, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926015648/tse-20260216xex10d1.htm) |
| 10.2 | [First Amendment, dated as of March 19, 2026, to the Credit Agreement dated as of January 17, 2025, by and among Trinseo Luxco S.à r.l., Trinseo Holding S.à r.l., Trinseo Materials Finance, Inc., Deutsche Bank AG New York Branch, as administrative agent and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed March 19, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926032793/tm269214d1_ex10-1.htm) |
| 10.3 | [2026 Limited Waiver and Amendment, dated as of March 19, 2026, to the Credit Agreement dated as of January 17, 2025, by and among Trinseo Luxco S.à r.l., Trinseo Holding S.à r.l., Trinseo Materials Finance, Inc., Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the lenders party thereto (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed March 19, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926032793/tm269214d1_ex10-2.htm) |
| 10.4 | [2026 Limited Waiver and Amendment, dated as of March 19, 2026, to the Credit Agreement dated as of September 6, 2017, by and among Trinseo Luxco S.à r.l., Trinseo Holding S.à r.l., Trinseo Materials Finance, Inc., and Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the lenders party thereto (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed March 19, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926032793/tm269214d1_ex10-3.htm) |
| 10.5 | [2026 Limited Waiver and Amendment, dated as of March 19, 2026, to the Credit Agreement dated as of September 8, 2023, by and among Trinseo PLC, Trinseo NA Finance LLC, Trinseo LuxCo Finance SPV S.à r.l., Trinseo NA Finance SPV LLC, Alter Domus (US) LLC, as administrative agent and collateral agent, and the lenders party thereto (incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K filed March 19, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926032793/tm269214d1_ex10-4.htm) |
| 10.6 | [Limited Waiver and Second Amendment, dated as of March 19, 2026, to the Credit and Security Agreement dated as of July 18, 2024, by and among Trinseo Holding S.à r.l., Styron Receivables Funding Designated Activity Company, Trinseo Ireland Global IHB Limited, GLAS USA LLC, as administrative agent, GLAS Americas LLC, as collateral agent, and the lenders party thereto (incorporated by reference to Exhibit 10.5 to the Current Report on Form 8-K filed March 19, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926032793/tm269214d1_ex10-5.htm) |
| 10.7 | [Limited Waiver and Third Amendment, dated as of April 10, 2026, to the Credit and Security Agreement dated as of July 18, 2024, by and among Trinseo Holding S.à r.l., Styron Receivables Funding Designated Activity Company, Trinseo Ireland Global IHB Limited, GLAS USA LLC, as administrative agent, GLAS Americas LLC, as collateral agent, KKR Credit Advisors (US) LLC, as structuring advisor, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed April 13, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926042351/tm2611573d1_ex10-1.htm) |

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| | |
|:---|:---|
| 10.8 | [Second Amendment, dated as of April 10, 2026, to the Credit Agreement dated as of January 17, 2025, by and among Trinseo Luxco S.à r.l., Trinseo Holding S.à r.l., Trinseo Materials Finance, Inc., Trinseo Ireland Global IHB Limited, Trinseo Services Ireland Limited, Deutsche Bank AG New York Branch, as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed April 13, 2026).](https://www.sec.gov/Archives/edgar/data/1519061/000110465926042351/tm2611573d1_ex10-2.htm) |
| 10.9† | [Employment Agreement between Trinseo LLC and Bregje Roseboom-Van Kessel, dated March 1, 2025.](tse-20260331xex10d9.htm)  |
| 31.1† | [Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](tse-20260331xex31d1.htm) |
| 31.2† | [Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](tse-20260331xex31d2.htm) |
| 32.1† | [Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](tse-20260331xex32d1.htm) |
| 32.2† | [Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](tse-20260331xex32d2.htm) |
| 101.INS† | XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH† | XBRL Taxonomy Extension Schema Document |
| 101.CAL† | XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF† | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB† | XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE† | XBRL Taxonomy Extension Presentation Linkbase Document |
| 104† | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |

---

† Filed herewith.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, duly authorized.

Date: April 30, 2026

---

| | |
|:---|:---|
| **TRINSEO PLC** | **TRINSEO PLC** |
| By: | /s/ Frank Bozich |
| Name: | Frank Bozich |
| Title: | President, Chief Executive Officer |
|  | (Principal Executive Officer) |
| By: | /s/ David Stasse |
| Name: | David Stasse |
| Title: | Executive Vice President, Chief Financial Officer |
|  | (Principal Financial Officer) |

---

## Exhibit 10.9

**Exhibit 10.9**

#### TRINSEO EUROPE GMBH

#### EMPLOYMENT AGREEMENT
**EMPLOYMENT AGREEMENT** (this "<u>Agreement</u>"), dated as of March 1, 2025, is among Trinseo Europe GmbH, a Swiss limited liability company (Gesellschaft mit beschrӓnkter Haftung) (the "<u>Company</u>"), Bregje Roseboom-Van Kessel of Bergdhaldenstrasse, 52D 8053, Zurich , Switzerland (the "<u>Executive</u>").

#### W I T N E S S E T H
**WHEREAS,** the Company desires to continue to employ the Executive as Senior Vice President, Corporate Development, Investor Relations & Treasury of the Company and to pay all of the Executive's compensation and other benefits described in this Agreement; and

**WHEREAS,** the Company and the Executive desire to update the terms and conditions of such employment by entering into this Agreement which shall define the terms of the Executive's employment with the Company.

**NOW, THEREFORE,** in consideration of the foregoing, of the mutual promises con-tained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **POSITION AND DUTIES.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)During the Employment Term (as defined in <u>Section</u> 2 hereof), the Executive shall serve as Senior Vice President, Corporate Development, Investor Relations & Treasury of the Company and its ultimate parent company, Trinseo PLC ("<u>Parent</u>") or in another rotational developmental global role of generally comparable strategic relevance. In this capacity, the Executive shall have the duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies, and such other executive duties, authorities and responsibilities as may reasonably be assigned to the Executive that are not inconsistent with the Executive's position as Senior Vice President of the Company and the Parent. The Executive's principal place of employment with the Company shall be in Pfaeffikon, Switzerland, or such other location in Switzerland within 75 kilometers from Pfaeffikon as the Company may designate. However, the Executive is aware and accepts that he/she will be required to travel frequently for business purposes and that the Executive has accepted an expatriate assignment in the United States for an undefined, but limited, duration. The Executive shall report directly to the Chief Financial Officer or a named executive officer of the Parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)During the Employment Term, the Executive shall devote all of the Executive's business time, energy, business judgment, knowledge and skill and the Executive's reasonable best efforts to the performance of the Executive's duties with the Company and the Parent, <u>provided</u> that the foregoing shall not prevent the Executive from (i) serving on the boards of directors of non-profit organizations and, with the prior written approval of the Board of the Parent (the "Board"), other for profit companies, (ii) participating in charitable, civic, educational, professional, community or industry affairs, and (iii) managing the Executive's passive personal investments so long as such activities in the aggregate do not violate <u>Section 10</u> hereof, interfere or conflict with the Executive's duties hereunder or create a business or fiduciary conflict. Any overtime worked by the Executive is fully compensated by the Base Salary (as defined in <u>Section</u> <u>3</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **EMPLOYMENT TERM.** The Company agrees to employ the Executive pursuant to the terms of this Agreement commencing on the date written above (the "Effective Date"). Either party may terminate this Agreement by giving six months' advance written notice. Notwithstanding the foregoing, the Executive's employment hereunder may be earlier terminated in accordance with <u>Section</u> 6 hereof, subject to <u>Section</u> 7 hereof. The period of time between the Effective Date and the termination of the Executive's employment hereunder shall be referred to herein as the "Employment Term." No trial period shall apply to the employment. This Agreement may be conditioned on any, or all of, the Executive: (i) passing a background check; (ii) passing a screening for illegal and controlled substances; and (iii) confirming employment eligibility; and (iv) providing the Company with the results of a recent physical examination or other evidence showing the absence of any conditions that would preclude the Executive from fulfilling the obligations contemplated in this Agreement.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.BASE SALARY.** During the Employment Term, the Company agrees to pay the Executive an annual base salary of not less than 435,000 CHF (Swiss francs) gross per annum, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Executive's base salary shall be subject to annual review by the Board (or a committee thereof) during the first ninety (90) days of each calendar year, and the base salary in respect of such calendar year may be increased above, but not decreased below, its level for the preceding calendar year, by the Board. The base salary as determined herein and adjusted from time to time shall constitute "<u>Base Salary</u>" for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **ANNUAL BONUS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)During the Employment Term, the Executive shall be eligible for an annual discretionary cash performance bonus (an "<u>Annual Bonus</u>") in respect of each calendar year that ends during the Employment Term, to the extent earned based on performance against objective performance criteria. The performance criteria for any particular calendar year shall be determined in good faith by the Board, no later than ninety (90) days after the commencement of such calendar year. The Executive's targeted Annual Bonus for a calendar year shall equal 60% of the Executive's Base Salary for such calendar year (the "<u>Target Bonus</u>") if target levels of performance for such year are achieved, with greater or lesser amounts (including zero) paid for performance above and below target (such greater and lesser amounts to be determined by a formula established by the Board for such year when it establishes the targets and performance criteria for such year); <u>provided</u> that the Executive's maximum Annual Bonus for any calendar year during the Employment Term shall equal 200% of the Target Bonus for such calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Executive's Annual Bonus for a calendar year shall be determined by, and is subject to the discretion of, the Board after the end of the applicable calendar year based on the level of achievement of the applicable performance criteria, and shall be paid to the Executive in the calendar year following the calendar year to which such Annual Bonus relates at the same time annual bonuses are paid to other senior executives of the Company, subject to continued employment at the time of payment (except as otherwise provided in <u>Section</u> 7 hereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **EMPLOYEE BENEFITS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)**BENEFIT PLANS.** During the Employment Term, the Executive shall be entitled to participate in any employee benefit plan that the Company has adopted or may adopt, maintain or contribute to and which benefit any of the senior executives of the Company, on a basis no less favorable than that applicable to any such senior executives, subject to satisfying the applicable eligibility requirements, except to the extent such plans are duplicative of the benefits otherwise provided hereunder. The Executive's participation in any such employee benefit plan shall be subject to the terms of the applicable plan documents and generally applicable Company policies. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan at any time, if and to the extent allowed pursuant to the terms of such plan, provided that any such amendment may have no more adverse effect on the Executive than on any other participant in such plan. The Company may provide perquisites to the Executive at the discretion of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)**VACATIONS.** During the Employment Term, the Executive shall be entitled to paid vacation in accordance with the Company's policy on accrual and use applicable to employees as in effect from time to time, currently calculated as twenty-seven (27) days annually for the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)**BUSINESS EXPENSES.** Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Executive shall be reimbursed in accordance with the Company's expense reimbursement policies as in effect from time to time, for all reasonable out-of-pocket business expenses incurred and paid by the Executive during the Employment Term and in connection with the performance of the Executive's duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **TERMINATION.** Notwithstanding <u>Section 2</u> above, the Executive's employment and the Employment Term shall terminate on the first of the following to occur:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **DEATH.** Automatically upon the date of death of the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)**CAUSE.** Immediately upon written notice by the Company to the Executive of a termination for cause ("*wichtiger Grund*") as provided for in Swiss employment law ("Cause"). For the sake of clarity, to the extent

------

not already provided for in Swiss law, Cause shall also include the following behaviors: (i) continued failure to follow the lawful and reasonable directives of the Board after written notice from the Board and a period of no less than thirty (30) days to cure such failure; (ii) willful misconduct or gross negligence in the performance of the Executive's duties; (iii) conviction of, or pleading of guilty or <u>nolo contendere</u> to, a non-vehicular felony; (iv) material violation of a material written Company or Parent policy that is not cured within fifteen (15) days of written notice from the Board; (v) performance of any material act of theft, embezzlement, fraud or misappropriation of or in respect of the Company's property; (vi) continued failure to cooperate in any audit or investigation of financial or business practices of the Company or Parent after written request for cooperation from the Board and a period of no less than ten (10) days to cure such failure; (vii) commission of any criminal act or other act involving moral turpitude, sexual harassment or drug violations (after an independent investigation concludes that such acts occurred and Executive has been presented with opportunity to participate in the investigation); (viii) commission of any willful act which brings public disrepute, contempt, scandal, or ridicule, or which shocks or offends the community or any group or class thereof, or which reflects unfavorably upon Company or Parent and, as a result of such act or involvement, reduces the commercial value of Company's or Parent's association with Executive; (ix) willful actions (other than legal action or arbitration arising out of this Agreement) or making or authorizing statements in derogation of Company or Parent or their products and such actions or statements become public during the Term that result in damage to the business of the Company; or (x) breach of any of the restrictive covenants set forth in <u>Section 10</u> hereof or in any other written agreement between the Executive and the Company and/or its Affiliate that causes material and demonstrable harm to the Company or Parent and that is not cured within fifteen (15) days of written notice from the Board.

For purposes of this <u>Section 6(b),</u> no act, or failure to act, on the part of the Executive shall be considered "willful" unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive's action or omission was in the best interests of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **CONSEQUENCES OF TERMINATION.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)**DEATH.** In the event that the Executive's employment and the Employment Term ends on account of the Executive's death, the Executive or the Executive's estate, as the case may be, shall be entitled to the following (with the amounts due under <u>Sections</u> 7(a)(i) through 7(a)(v) hereof to be paid, unless otherwise provided below, within sixty (60) days following termination of employment, or such earlier date as may be required by applicable law):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any unpaid Base Salary through the date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)any Annual Bonus earned but unpaid with respect to the calendar year end-ing on or preceding the date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)an amount equal to the pro-rata portion of the Executive's Target Bonus for the calendar year of termination (determined by multiplying the Target Bonus for the year of termination by a fraction, the numerator of which is the number of days during the calendar year of termination that the Executive is employed by the Company and the denominator of which is 365);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)reimbursement for any unreimbursed business expenses incurred through the date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)payment in respect of any accrued but unused vacation time in accordance with Company policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)all other payments, benefits or fringe benefits to which the Executive shall be entitled under the terms of any applicable compensation arrangement or benefit, or fringe benefit plan or program or grant or this Agreement (collectively, <u>Sections</u> 7(a)(i) through 7(a)(vi) hereof shall be hereafter referred to as the "<u>Accrued Benefits</u>") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)if the Executive is survived by a spouse, a registered partner, children who are minors or, in the absence of such heirs, other persons to whom he/she had a duty to provide support, the Base Salary for one month or, if the Executive had completed more than five years of service, for two months;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **TERMINATION FOR CAUSE BY THE COMPANY; TERMINATION BY** 

**THE EXECUTIVE.** If the Executive's employment is terminated (x) by the Company for Cause or (y) by

------

the Executive for whatsoever reason, the Company shall pay to the Executive the Accrued Benefits; except for <u>Section 7(a) (iii)</u>. If the Executive terminates the Agreement, then the Company may elect to: (i) accelerate the Executive's termination date which shall not be considered a termination by the Company without Cause; and (ii) transition Executive's duties and responsibilities to others during the notice period. However, in the event that the Executive terminates the Agreement and the Company elects to accelerate the Executive's termination date, then the Executive will continue to receive Base Salary through the expiration of the notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)**TERMINATION WITHOUT CAUSE.** If the Executive's employment by the Company is terminated by the Company other than for Cause, the Company shall pay or provide the Executive with the following, subject to the provisions of <u>Section</u> 24 hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Accrued Benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)subject to the Executive's not engaging in a Material Covenant Violation as defined hereinafter or any other breach of <u>Section 10</u> hereof that is not cured within fifteen (15) days of written notice from the Board (a "<u>Material Cooperation Violation</u>"), the Executive shall be entitled to an amount equal to one of the following (the applicable amount determined below to be referred to herein as the "<u>Severance Amount</u>"):

an amount equal to one (1.0) multiplied by the sum of the Executive's then current annual Base Salary and Target Bonus for the year of termination, paid in equal monthly installments for a period of twelve (12) months following such termination. Payments and benefits provided in this <u>Section</u> 7(c) shall be offset by Base Salary payments made during (i) any notice period as defined in <u>Section 2</u> where the Executive has been relieved of responsibilities, and (ii) any monthly extension that corresponds to the number of months by which the notice period is extended based art. 336c CO, <u>provided</u> that the aggregate severance benefits payable hereunder shall be no less than as required by applicable law.

A "<u>Material Covenant Violation</u>" shall mean a breach of any of the restrictive covenants set forth in <u>Section 10</u> hereof or in any other written agreement between the Executive and the Company and/or any of the Company's or Parent's direct or indirectly controlled subsidiaries (each an "<u>Affiliate</u>") that causes material and demonstrable harm to the Company and/or any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **CHANGE IN CONTROL.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)This <u>Section</u> 7(d) shall apply if the Executive's employment by the Com-pany is terminated (x) by the Company other than for Cause, or (y) by the Executive for good reason as defined in art. 340c para 2 CO, in either case, during the two (2)-year period commencing upon a Change in Control. Subject to the Executive's not engaging in a Material Covenant Violation or a Material Cooperation Violation, upon a termination described in the preceding sentence, the Executive shall receive the benefits set forth in <u>Section</u> 7(c) hereof, except that (i) the Severance Amount shall be two (2.0) multiplied by the annual sum of the Executive's Base Salary and Target Bonus in effect for the then-current year of termination, and (ii) in lieu of receiving the Severance Amount in installments as contemplated under <u>Section</u> 7(c)(ii) hereof, the Executive shall receive a lump sum payment equal to the Severance Amount on the date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)For purposes of this Agreement, the term "<u>Change in Control</u>" shall mean the consummation off the first transaction following the Effective Date, whether in a single transaction or in a series of related transactions, in which any individual, entity or group (within the meaning of <u>Section</u> 13(d)(3) or 14(d)(2) of the U.S. Securities Exchange Act of 1934, as amended) (A) acquires (whether by merger, consolidation, or transfer or issuance of equity interests or otherwise) equity interests of the Parent (or any surviving or resulting entity) representing more than fifty percent (50%) of the outstanding voting securities or economic value of the Parent (or any surviving or resulting entity), or (B) acquires assets constituting all or substantially all (more than eighty percent (80%)) of the assets of the Parent and its subsidiaries (as determined on a consolidated basis).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.OTHER OBLIGATIONS.** Upon any termination of the Executive's employment with the Company and at any time before at the request of the Board, the Executive shall promptly resign from any other position as an officer, director or fiduciary of the Company, Parent and any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.RELEASE; NO MITIGATION; NO SET-OFF.** Any and all amounts payable and benefits or

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additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive signs and delivers to the Company a general release of claims in favor of the Company in substantially the form of <u>Exhibit A</u> attached hereto not earlier than 1 month and 1 day, but not later than 60 days after his employment has ended and does not revoke such General Release. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by a subsequent employer. The Company's obligations to pay the Executive amounts hereunder shall not be subject to set-off, counterclaim or recoupment of amounts owed by the Executive to the Company or any Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **RESTRICTIVE COVENANTS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)**CONFIDENTIALITY.** During the course of the Executive's employment with the Company, the Executive will learn confidential information regarding the Company. The Executive agrees that the Executive shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the Executive's assigned duties and for the benefit of the Company, either during the period of the Executive's employment or at any time thereafter, any business and technical information or trade secrets, nonpublic, proprietary or confidential information, knowledge or data relating to the Company or any Affiliate, or received from third parties subject to a duty on the Company's or any Affiliates' part to maintain the confidentiality of such information and to use it only for certain limited purposes, in each case which shall have been obtained by the Executive during the Executive's employment by the Company. The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive or any representative of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (<u>provided</u> that the Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information). The Executive shall keep the terms and conditions of this Agreement strictly confidential, and the Executive hereby agrees not to disclose the terms and conditions hereof to any person or entity, other than immediate family members, legal advisors or personal tax or financial advisors, or prospective future employers solely for the purpose of disclosing the limitations on the Executive's conduct imposed by the provisions of this <u>Section</u> 10 who, in each case, shall be instructed by the Executive to keep such information confidential.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)**NONCOMPETITION.** The Executive acknowledges that the Executive performs services of a unique nature for the Company that are irreplaceable, and that the Executive's performance of such services to a competing business will result in irreparable harm to the Company. Accordingly, during the Executive's employment hereunder and for a period of twenty-four (24) months (this period referred to herein as the "<u>Restricted Period</u>"), the Executive agrees that the Executive will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation or other entity, in whatever form, engaged in competition with any material business of the Company or any Affiliate or in any other material business in which the Company or any Affiliate has taken material steps and has material plans, on or prior to the date or termination, to be engaged in on or after such date, in any locale of any country in which the Company or any Affiliate conducts business. Notwithstanding the foregoing, nothing herein shall prohibit the Executive from being a passive owner of not more than one percent (1%) of the equity securities of a publicly traded corporation engaged in a business that is in competition with the Company or any of its affiliates, so long as the Executive has no active participation in the business of such corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)**NONSOLICITATION; NONINTERFERENCE.** During the Executive's em-ployment with the Company and for the Restricted Period, the Executive agrees that the Executive shall not, except in the furtherance of the Executive's duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, (i) solicit, aid or induce any customer of the Company or an Affiliate to purchase goods or services then sold by the Company or any Affiliate from another person, firm, corporation or other entity or assist or aid any other persons or entity in identifying or soliciting any such customer, (ii) solicit, aid or induce any employee, representative or agent of the Company or any Affiliate to leave such employment or retention or, in the case of employees, to accept employment with or render services to or with any other person, firm, corporation or other entity unaffiliated with the Company or any Affiliate, or hire or retain any such employee, or take any action to materially assist or aid any other person, firm, corporation or other entity in identifying, hiring or soliciting any such employee,

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or (iii) interfere, or aid or induce any other person or entity in interfering, with the relationship between the Company or any Affiliate and any of their respective vendors, joint ventures or licensors. An employee, representative or agent shall be deemed covered by this <u>Section</u> 10(c) while so employed or retained and for a period of six (6) months thereafter. Notwithstanding the foregoing, the provisions of this <u>Section</u> 10(c) shall not be violated by general advertising or solicitation not specifically targeted at Company or Affiliate-related individuals or entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)**INTELLECTUAL PROPERTY RIGHTS.** (i) The rights to inventions and de-signs made or conceived by the Executive individually or jointly while performing his employment activity and in performance of his contractual duties belong to the Company regardless of whether they are legally protected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)The rights to inventions and designs, made or conceived by the Executive while performing his employment activity, but not during the performance of his contractual duties, shall be assigned by the Executive to the Company as of their inception, regardless of whether they are legally protected. The Executive is obliged to inform the Company in writing of any such inventions or designs. The Company is entitled to grant the rights to these inventions and designs to the Executive. Should the Company retain such rights the Executive will be entitled to a special reasonable compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)Other rights to any work products and any know-how, which the Executive creates or in which creation he participates while performing his employment activity belong exclusively to the Company. To the extent that work products (e.g., software, reports, documen-tations) are protected by copyrights, the Executive hereby assigns to the Company any and all rights related to such work products, particularly the copyright and any and all rights of use, in-cluding the rights of production and duplication, of publishing, to use, to license or to sell, to distribute over data or online media, to modify and develop further as well to develop new products on the basis of the work product of the Executive or on the basis of parts of such work product.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)**RETURN OF COMPANY PROPERTY.** On the date of the Executive's termina-tion of employment with the Company for any reason (or at any time prior thereto at the Company's request), the Executive shall return all property belonging to the Company or any Af-filiate (including, but not limited to, any Company-provided laptops, computers, cell phones, wireless electronic mail devices or other equipment, or documents and property belonging to the Company). Any retention right is excluded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)**REASONABLENESS OF COVENANTS.** In signing this Agreement, the Execu-tive gives the Company assurance that the Executive has carefully read and considered all of the terms and conditions of this Agreement, including the restraints imposed under this <u>Section</u> 10. The Executive agrees that these restraints are necessary for the reasonable and proper protection of the Company and the Company and any Affiliate's trade secrets and confidential information and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area, and that these restraints, individually or in the aggregate, will not prevent the Executive from obtaining other suitable employment during the period in which the Executive is bound by the restraints. The Executive acknowledges that each of these covenants has a unique, very substantial and immeasurable value to the Company and its Affiliates and that the Executive has sufficient assets and skills to provide a livelihood while such covenants remain in force. It is also agreed that the Affiliates will have the right to enforce all of the Executive's obligations to such Affiliates under this Agreement, including without limitation pursuant to this <u>Section</u> 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)**REFORMATION.** If it is determined by a court of competent jurisdiction in any state that any restriction in this <u>Section</u> 10 is excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the laws of that state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)**SURVIVAL OF PROVISIONS.** The obligations contained in <u>Sections 10 and 11</u> hereof shall survive the termination or expiration of the Employment Term and the Executive's employment with the Company and shall be fully enforceable thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **COOPERATION.** Upon the receipt of reasonable notice from the Company (in-cluding through outside counsel), the Executive agrees that while employed by the Company and thereafter (to the extent it does not materially interfere with the Executive's employment or other business activities after employment by the Company), the Executive will respond and provide information with regard to matters in which the Executive has knowledge as a result of the Exec-utive's employment with the Company, and will provide reasonable assistance to the Company,

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the Affiliates and their respective representatives in defense of all claims that may be made against the Company or the Affiliates, and will assist the Company and the Affiliates in the prosecution of all claims that may be made by the Company or the Affiliates, to the extent that such claims may relate to the period of the Executive's employment with the Company. The Executive also agrees to promptly inform the Board (to the extent that the Executive is legally permitted to do so) if the Executive is asked to assist in any investigation of the Company or the Affiliates (or their actions), regardless of whether a lawsuit or other proceeding has then been filed against the Company or Affiliates with respect to such investigation, and shall not do so unless legally required. Upon presentation of appropriate documentation, the Company shall pay or reimburse the Executive for all reasonable out-of-pocket travel, duplicating, telephonic, counsel and other expenses incurred by the Executive in complying with this <u>Section 11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.EQUITABLE RELIEF AND OTHER REMEDIES.** The Executive acknowl-edges and agrees that the Company's remedies at law for a breach or threatened breach of any of the provisions of <u>Section 10</u> hereof or <u>Section</u> 11 hereof would be inadequate and, in recognition of this fact, the Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company shall be entitled to obtain equitable relief in the form of specific performance (*Realerfüllung*), a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available. In the event of a Material Covenant Violation or a Material Cooperation Violation by the Executive, any severance being paid to the Executive pursuant to this Agreement or otherwise shall immediately cease unless otherwise prohibited by applicable law. In case of a breach by the Executive of any of the covenants contained in <u>Section 10</u> or <u>Section 11</u> hereof (i) any Severance Amount payable by the Company, if any, shall be forfeited and (ii) the Executive shall pay to the Company a contractual penalty in an amount equal to (i) the Executive's last annual Base Salary for each individual breach of Sections 10(a), 10(b) and 10(c)(i), (ii) one twelfth (1/12<sup>th)</sup> of the Executive's last annual Base salary for each individual breach of Sections 10(c)(ii), 10(c)(iii) and 11 and CHF 10,000 for each individual breach of Sections 10(e). In addition, the Executive shall have to compensate the Company for any damages and financial losses directly arising out of or relating to such breach. The Executive cannot disburden himself from the aforementioned prohibitions by the payment of the contractual penalty and/or damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.NO ASSIGNMENTS.** This Agreement is personal to each of the parties hereto. Except as provided in this <u>Section 13</u> hereof, no party may assign or delegate any rights or obliga-tions hereunder without first obtaining the written consent of the other party hereto. The Company shall assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company or Parent, <u>provided</u> that the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place, and provided that the Company agrees to perform such obligations if such successor fails to do so in a timely manner. As used in this Agreement, "<u>Company</u>" shall mean the Company and any successor to all or substantially all of its business and/or assets, which assumes and agrees to perform the duties and obligations of the Company under this Agreement by operation of law or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.NOTICES.** For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery, if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile or electronic mail, (c) on the first business day following the date of deposit, if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed with a national postal carrier by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

If to the Executive:

At the address (or to the facsimile number) shown in the books and records of the Company.

If to the Company:

Trinseo Europe GmbH

c/o Trinseo LLC

Chief Legal Officer

And

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<u>With a copy (which shall not constitute notice hereunder)</u> <u>to:</u>

Trinseo Europe GmbH

c/o Trinseo LLC

Chief Human Resources Officer Zugerstrasse 231

Horgen, CH-8810, Switzerland

or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.SECTION HEADINGS; INCONSISTENCY.** The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between the terms of this Agreement (including the Exhibits hereto) and any form, award, plan or policy of the Company, the terms of this Agreement shall govern and control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.SEVERABILITY.** The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof which shall be replace by such valid and enforceable provision that best reflects the Parties original intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.SUPREMECY & COUNTERPARTS.** This Agreement supersedes and replaces all prior agreements and understandings, whether oral or written, in connection with the subject matter hereof; including, but not limited to, the Employment Contract having an effective date of April 1, 2018. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.INDEMNIFICATION.** The Company hereby agrees to indemnify the Executive and hold the Executive harmless to the fullest extent allowable under applicable law against and in respect of any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including attorney's fees, and the advancement of such fees subject to any legally required re-payment undertaking), losses, and damages resulting from the Executive's performance of the Executive's duties and obligations with the Company. This obligation shall survive the termination of the Executive's employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.LIABILITY INSURANCE.** The Company shall cover the Executive under direc-tors' and officers' liability insurance both during and, while potential liability exists, after the Employment Term in the same amount and to the same extent as the Company covers its other officers and directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.GOVERNING LAW.** This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall exclusively be governed by and construed in accordance with the substantive laws of Switzerland.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.DISPUTE RESOLUTION.** Each of the parties agrees that any dispute between the parties shall be resolved only in the courts of Switzerland, in accordance with art. 34 of the Swiss Code of Civil Procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.MISCELLANEOUS.** No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement together with all exhibits hereto sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the Executive and the Company with respect to the subject matter hereof, whether written or oral. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.REPRESENTATIONS; ACTIONS BY PRIOR EMPLOYERS.** The Executive represents and warrants to the Company that (a) the Executive has used the Executive's best efforts to provide the Company with (i) each agreement with a predecessor employer which may have any bearing on the Executive's legal right to enter into this Agreement and to perform all of the obligations on the Executive's part to be performed hereunder in accordance with its terms, or (ii) a summary of the applicable provisions of each such agreement which the Executive may not provide to the Company due to an existing confidentiality obligation, and (b) other than the agreements referenced in

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the preceding clause (a), the Executive is not a party to any agreement or understanding, whether written or oral, and is not subject to any restriction (including, without limitation, any non-competition restriction from a prior employer), which, in either case, could prevent the Executive from entering into this Agreement or performing all of the Executive's duties and obligations hereunder. The Executive understands that the foregoing representations are a material inducement to the Company entering into this Agreement, and to the extent that either of such representations is untrue in any material respect at any time or for any reason, this Agreement shall be voidable by the Company such that the parties hereunder shall be relieved of all of their respective duties and obligations hereunder; <u>provided</u> that any termination of the Ex-ecutive's employment resulting from the Company exercising its rights pursuant to this sentence shall have the same consequences, especially financial consequences, as a termination of em-ployment by the Executive without good reason as defined in art. 340c para 2 CO. If any prior employer of the Executive, or any affiliate of any such prior employer, challenges the Executive's right to enter into this Agreement and to perform all of the Executive's obligations hereunder (whether by action against the Executive, the Company, Parent and/or an Affiliate), the Company (on behalf of itself, Parent and all Affiliates) and the Executive each agree to use their reasonable best efforts to defend against such challenge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.** **WITHHOLDING.** The Company will deduct from the Employee's gross re-muneration as provided for in this Agreement the applicable Employee contributions, respectively premiums to social security schemes (AHV\|IV, EO, ALV), the premiums for the pension fund (BVG), as well as applicable taxes, if any in accordance with the respective laws, regulations and plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25.FURTHER ASSURANCES.** The parties hereto shall cooperate with each other and do, or procure the doing of, all acts and things, and execute, or procure the execution of, all documents, as may reasonably be required to give full effect to this Agreement.

#### [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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**IN WITNESS WHEREOF,** the parties hereto have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| &nbsp;&nbsp;**Trinseo Europe GmbH** | &nbsp;&nbsp;**Executive** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature:<br>/s/ Francesca Reverberi | &nbsp;&nbsp;&nbsp;Signature:<br>/s/ B. van Kessel |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<br>Francesca Reverberi | &nbsp;&nbsp;Name:<br>&nbsp;&nbsp;&nbsp;&nbsp;B. van Kessel |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<br>SVP Plastics | &nbsp;&nbsp;&nbsp;Title:<br>SVP Corp Dev, IR, Treasury |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date:<br>29 July 2025 | &nbsp;&nbsp;Date:<br>12 Aug 2025 |

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*Employment Agreement Signature Page*

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#### EXHIBIT A GENERAL RELEASE
I, , in consideration of and subject to the performance by Trinseo Europe GmbH. (together with its Affiliates, the "<u>Company</u>"), of its obligations under the Employment Agreement, dated as of **[●]** (the "<u>Agreement</u>"), do hereby release and forever discharge as of the date hereof the Company and its respective Affiliates and all present, former and future directors, officers, employees, successors and assigns of the Company and its Affiliates and direct or indirect owners (collectively, the "<u>Released Partie</u>*s*") to the extent provided below. The Released Parties are intended third-party beneficiaries of this General Release, and this General Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement.

1. I understand that any payments or benefits paid or granted to me under <u>Section</u> 7 of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive certain of the payments and benefits specified in <u>Section</u> 7 of the Agreement. Such payments and benefits will not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates.

2. Except as provided in paragraphs 1 above and 5 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys' fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (all of the foregoing collectively referred to herein as the "<u>Claims</u>").

3. I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by paragraph 2 above.

4. I agree that this General Release does not waive or release any rights or claims that I may have which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement shall not serve as the basis for any claim or action.

5. I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever in respect of any Claim, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief. Notwithstanding

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the above, I further acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law at the time I sign this General Release, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. Additionally, I am not waiving any right to the Accrued Benefits or indemnity.

6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (not-withstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that I am not aware of any pending claim of the type described in paragraph 2 above as of the execution of this General Release.

7. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct.

8. I agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys' fees.

9. I agree that this General Release and the Agreement are confidential and agree not to dis-close any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose the same to anyone. The Company agrees to disclose any such information only to any tax, legal or other counsel of the Company as required by law.

10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any other self-regulatory organization or any governmental entity.

11. I represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering

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into this General Release, may have materially affected this General Release and my decision to enter into it.

12. Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof.

13. Whenever possible, each provision of this General Release shall be interpreted in, such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein and if possible under applicable law, replaced by such valid, legal and enforceable provision that best reflects the intent of the invalid, illegal or unenforceable provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. This General release is subject to the substantive laws of Switzerland.

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I HAVE READ IT CAREFULLY;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUN-TARILY; AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRE-SENTATIVE OF THE COMPANY AND BY ME.

SIGNED: DATED:

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## Exhibit 31.1

**Exhibit 31.1** 

**CERTIFICATION OF CHIEF EXECUTIVE OFFICER**

I, Frank Bozich, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Trinseo PLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 30, 2026

---

| | |
|:---|:---|
| By: | /s/ Frank Bozich |
| Name: | Frank Bozich  |
| Title: | Chief Executive Officer |

---

------

## Exhibit 31.2

**Exhibit 31.2** 

**CERTIFICATION OF CHIEF FINANCIAL OFFICER**

I, David Stasse, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Trinseo PLC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 30, 2026

---

| | | |
|:---|:---|:---|
| J.<br>|  |  |
|  | By: | /s/ David Stasse |
|  | Name: | David Stasse |
|  | Title: | Chief Financial Officer |

---

------

## Exhibit 32.1

**Exhibit 32.1** 

**Certification of CEO Pursuant to 18 U.S.C. Section 1350,** 

**As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

In connection with the quarterly report of Trinseo PLC (the "Company") on Form 10-Q for the period ended March 31, 2026 (the "Report"), as filed with the Securities and Exchange Commission on the date hereof, I, the undersigned, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: April 30, 2026

---

| | |
|:---|:---|
| By: | /s/ Frank Bozich |
| Name: | Frank Bozich |
| Title: | Chief Executive Officer |

---

------

## Exhibit 32.2

**Exhibit 32.2** 

**Certification of CFO Pursuant to 18 U.S.C. Section 1350,** 

**As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

In connection with the quarterly report of Trinseo PLC (the "Company") on Form 10-Q for the period ended March 31, 2026 (the "Report"), as filed with the Securities and Exchange Commission on the date hereof, I, the undersigned, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: April 30, 2026

---

| | | |
|:---|:---|:---|
| J. <br>|  |  |
|  | By: | /s/ David Stasse |
|  | Name: | David Stasse |
|  | Title: | Chief Financial Officer |

---

------