Document:

EX-10.5

 Exhibit 10.5 
 EXECUTION VERSION 
 FOURTH AMENDMENT TO CREDIT AGREEMENT 

FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of August 9, 2012 (this “Fourth Amendment”), among TRINSEO MATERIALS
OPERATING S.C.A. (formerly known as STYRON S.A R.L. and TRINSEO MATERIALS OPERATING S.A R.L.), a partnership limited by shares (société en commandite par actions) organized under the laws of Luxembourg (the
“Borrower”), the Guarantors, DEUTSCHE BANK AG NEW YORK BRANCH (“DBNY”), as administrative agent (in such capacity, the “Administrative Agent”) and each Lender (as defined below) party hereto.

 W I T N E S S E T H: 
 WHEREAS, the Borrower, the Administrative Agent, the Guarantors party thereto from time to time and each lender from time to time party thereto (the “Lenders”) have entered into a Credit
Agreement, dated as of June 17, 2010 (as amended by that certain First Amendment dated as of February 2, 2011, that certain Second Amendment dated as of July 28, 2011 (the “Second Amendment”) and that certain Third
Amendment dated as of February 13, 2012, the “Credit Agreement”) (capitalized terms not otherwise defined in this Fourth Amendment have the same meanings as specified in the Credit Agreement); 

WHEREAS, subject to the terms and conditions of this Fourth Amendment, the Borrower desires to amend the Credit Agreement as set forth
herein; 
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the sufficiency and
receipt of all of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Restatement of
Second Amendment to Credit Agreement. The Loan Parties and the Lenders hereby agree and acknowledge that the conditions precedent set forth in Sections 5 and 6, respectively, of the Second Amendment were not satisfied and, therefore, none of
(i) the Incremental Revolving Credit Commitment Upsize Amendment (as defined in the Second Amendment and set forth in Section 2 thereof) or (ii) the Revolving Commitment Increase Amendment (as defined in the Second Amendment and set
forth in Section 3 thereof) (including, without limitation, the provisions of Section 3 of the Second Amendment pursuant to which each Revolving Commitment Increase Lender (as defined in the Second Amendment) purported to make a Revolving
Commitment Increase (as defined in the Second Amendment) in the amount set forth opposite such Revolving Commitment Increase Lender’s name on Schedule 1 to the Second Amendment), were ever effective, and such provisions are null and void
and henceforth shall have no effect, as if the Second Amendment was never entered into. In furtherance of the forgoing, the Borrower and the Lenders hereby agree to restate the Second Amendment as set forth in Annex A hereto. 

SECTION 2. Amendments to Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 3 hereof
the Loan Parties and the Lenders hereby agree to amend the Credit Agreement as follows: 
 (a) Amendments to
Section 1.01 (Defined Terms). 
 (i) Section 1.01 of the Credit Agreement is hereby amended
by adding in the appropriate alphabetical order the following new definitions: 
 “Consolidated Total
Senior Secured Indebtedness” means, as of any date of determination, the aggregate principal amount of Indebtedness of Holdings 

 
and its Restricted Subsidiaries that are consolidated entities of Holdings in accordance with GAAP outstanding on such date, in an amount that would be reflected on a balance sheet prepared as of
such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of purchase accounting in connection with the Transactions or any Permitted Acquisition),
consisting of Indebtedness for borrowed money, Attributable Indebtedness, and debt obligations evidenced by promissory notes or similar instruments (in each case, other than (i) any portion thereof that is unsecured or that is secured by a Lien
on any assets of Holdings or any of its Restricted Subsidiaries that is expressly subordinated to the Liens granted under the Collateral Documents to the Collateral Agent for the benefit of the Secured Parties in all respects and
(ii) Indebtedness of the Securitization Subsidiaries); provided that (i) Consolidated Total Senior Secured Indebtedness shall not include Indebtedness in respect of letters of credit, except to the extent of unreimbursed amounts
thereunder; provided that any unreimbursed amount under commercial letters of credit shall not be included as Consolidated Total Senior Secured Indebtedness until three (3) Business Days after such amount is drawn, (ii) obligations
under Swap Contracts entered into for non-speculative purposes shall not constitute Consolidated Total Senior Secured Indebtedness and (iii) the aggregate principal amount of the Revolving Credit Facility during any relevant period shall be
calculated based on the daily average outstanding amount of the Revolving Credit Loans and the Swing Line Loans during such period. 
 “Fourth Amendment” means the Fourth Amendment to this Agreement, dated as of August 9, 2012, among the Borrower, the other Loan Parties, the Administrative Agent and the Lenders
party thereto. 
 “Fourth Amendment Effective Date” means the first date on which all the
conditions precedent in Section 3 of the Fourth Amendment are satisfied or waived in accordance with Section 3 of the Fourth Amendment. 
 “Fourth Amendment Notes” means senior notes of the Borrower and Trinseo Materials Finance which notes (i) are unsecured obligations of the Borrower and Trinseo Materials Finance or
are secured by only assets comprising Collateral on a second lien basis relative to the Liens on such Collateral securing the Obligations of the Loan Parties, and not secured by any property or assets of any Loan Party other than the Collateral,
(ii) are issued pursuant to one or more issuances of notes in an aggregate principal amount not greater than $350,000,000 and 100% of the Net Proceeds therefrom are used to repay Term Loans, (iii) are designated “Fourth Amendment
Notes” by the Borrower in writing to the Administrative Agent at the time of issuance thereof and (iv) satisfy the requirements set forth in the definition of “Permitted Refinancing Notes” hereunder (other than clauses
(iv) and (viii) thereof), as the same may be amended, modified or supplemented from time to time in accordance with the terms hereof and thereof. For purposes of the foregoing clause (iv), the requirements set forth in the definition of
“Permitted Refinancing Notes” shall apply to Trinseo Materials Finance to the same extent that such requirements apply to the Borrower. 

  
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 “Fourth Amendment Notes Documents” means, on or after the
execution and delivery thereof, each indenture, agreement, document or instrument reliant to the incurrence of Fourth Amendment Notes, in each case, as the same may be amended, modified or supplemented from time to time in accordance with the terms
hereof and thereof. 
 “Fourth Amendment Repayment Contribution” means, collectively, a cash contribution
made on the Fourth Amendment Effective Date to the common equity of the Borrower or the repayment of intercompany Indebtedness owed by a parent of the Borrower to the Borrower in an aggregate amount not less than $140,000,000, 100% of the proceeds
of which are used by the Borrower to repay Term Loans. 
 “Senior Secured Leverage Ratio” means, on any date
of determination during any Test Period, the ratio of (a) Consolidated Total Senior Secured Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period; provided that for purposes of
calculating the Senior Secured Leverage Ratio, Consolidated EBITDA shall not include the amount of any Specified Equity Contribution. 

“Term Loan Repayment Condition” means the condition that shall be satisfied if following the Fourth Amendment
Effective Date and on or prior to the first anniversary of the Fourth Amendment Effective Date the Borrower shall have repaid not less than $260,000,000 in aggregate principal amount of Term Loans from Net Cash Proceeds of the issuance of
(x) Fourth Amendment Notes and/or (y) Equity Interests of Holdings in a Qualified IPO (and the proceeds of which shall have been contributed to the capital of the Borrower). 

“Trinseo Materials Finance” means Trinseo Materials Finance, Inc., a Delaware corporation, and any successor
thereto permitted pursuant to Section 7.04. 
 (ii) Section 1.01 of the Credit Agreement is hereby
further amended by (1) restating clause (a) of the definition of “Applicable Margin” in its entirety as follows: 

“(a) (i) prior to the First Amendment Effective Date and the making of the Replacement Term Loan, with respect to Term Loans
maintained as (x) Base Rate Loans, 4.75% and (y) LIBO Rate Loans, 5.75%, (ii) on and after the First Amendment Effective Date following the making of the Replacement Term Loans but prior to the Fourth Amendment Effective Date, with
respect to Term Loans maintained as (x) Base Rate Loans, 3.50%, and (y) LIBO Rate Loans, 4.50%, and (iii) on and after the Fourth Amendment Effective Date (A) until delivery of financial statements for the first full fiscal
quarter commencing on or after the Fourth Amendment Effective Date pursuant to Section 6.01, with respect to Term Loans maintained as (x) Base Rate Loans, 5.50%, and (y) LIBO Rate Loans, 6.50%, and (B) thereafter, the
following percentages per annum, based upon the Senior Secured Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a): 

 

													
	 	  	Senior Secured
Leverage
Ratio	 	  	Applicable Margin for Term
Loans	 
	 Pricing Level
	  	  	LIBO Rate	 	 	Base Rate	 
				
	 1
	  	 	<3.25:1.00	  	  	 	5.00	% 	 	 	4.00	% 
	 2
	  	 	>3.25:1.00	  	  	 	6.50	% 	 	 	5.50	%” 

  
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 (2) deleting the text “the Total Leverage Ratio” appearing in the third to last
paragraph of such definition and inserting in lieu thereof the text “the Senior Secured Leverage Ratio or the Total Leverage Ratio, as applicable,”; and 
 (3) adding the following new paragraph immediately prior to the last paragraph of such definition: 
 “Notwithstanding the foregoing but without limitation of the two immediately preceding paragraphs, following the Fourth Amendment Effective Date, the Applicable Margin otherwise applicable pursuant
to the preceding paragraph (a), (b) or (c) shall be increased by 1.00% for the period from and including any Applicable Margin Step Up Date to and excluding the first Business Day immediately following the date a Compliance Certificate is
delivered pursuant to Section 6.02(a) following such Applicable Margin Step Up Date, which Compliance Certificate demonstrates that Holdings is in compliance with the covenants set forth in Section 7.11 without giving effect
to any Specified Equity Contribution that has been added to Consolidated EBITDA for any fiscal quarter included in the Test Period covered by such Compliance Certificate. The adjustment described in the preceding sentence shall not apply as a result
of any Specified Equity Contribution made prior to the Fourth Amendment Effective Date to increase Consolidated EBITDA. For purposes hereof, “Applicable Margin Step Up Date” means (i) each date on which a Specified Equity
Contribution is made pursuant to Section 8.05 and (ii) the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a) after any Specified Equity Contribution is
made, which Compliance Certificate demonstrates that but for the addition of such Specified Equity Contribution (or any prior Specified Equity Contribution) to Consolidated EBITDA for any fiscal quarter included in the Test Period covered by such
Compliance Certificate, Holdings would not be in compliance with the covenants set forth in Section 7.11.”. 
 (iii) Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of “Consolidated EBITDA” as follows: 

(1) restating clause (xii) of such definition in its entirety as follows: 

“(xii) proceeds of business interruption insurance (including, without duplication, payments made to Holdings or any of its
Restricted Subsidiaries pursuant to the Acquisition Agreement),”; 

  
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 (2) adding the following new paragraph immediately prior to the last paragraph of such
definition: 
 “Notwithstanding anything else in the definition of Consolidated EBITDA or the definitions used therein, the realized
gain or loss of any currency derivatives that are entered into for the express purpose of reducing the variability of the Company’s non-Dollar denominated Consolidated EBITDA will be included in the calculation of Consolidated EBITDA.”;

 (3) deleting the word “and” at the end of clause (ii) of the final paragraph of such definition and inserting in lieu
thereof a comma (“,”); and 
 (4) deleting the period (“.”) at the end of clause (iii) of such paragraph and
inserting in lieu thereof the following new text: “and (iv) for any period that includes any of the fiscal quarters ended March 31, 2012, December 31, 2011 or September 30, 2011, Consolidated EBITDA, excluding pro forma
adjustments (if any) pursuant to Section 1.10, for such fiscal quarters shall be $143,966,000, $28,637,000 and $68,119,000, respectively.”. 

(iv) Section 1.01 of the Credit Agreement is hereby further amended by restating clause (b) and clause
(c) of the definition of “Cumulative Credit” in their entirety as follows: 
 “(b) the cumulative amount of cash and
Cash Equivalent proceeds from (i) the sale of Equity Interests of Holdings or of any direct or indirect parent of Holdings after the Closing Date and on or prior to such date (including upon exercise of warrants or options but excluding in
connection with any Specified Equity Contribution, the Fourth Amendment Repayment Contribution and any payment made (directly or indirectly) to Holdings or any of its Restricted Subsidiaries pursuant to the Acquisition Agreement), which proceeds
have been contributed as common equity to the capital of the Borrower and (ii) the common Equity Interests of Holdings or any direct or indirect parent of Holdings (other than Disqualified Equity Interests of Holdings) issued upon conversion of
Indebtedness (other than Indebtedness that is contractually subordinated to the Obligations) of Holdings or any Restricted Subsidiary of Holdings owed to a Person other than a Loan Party or a Restricted Subsidiary of a Loan Party, which proceeds
have not been previously applied for a purpose (including, without limitation, to justify Investments pursuant to Section 7.02(t)(iii) or prepayments of any Junior Financing pursuant to Section 7.13(a)(iv)) other than as an
increase in Cumulative Credit, plus 
 (c) 100% of the aggregate amount of contributions (other than (i) any Specified Equity
Contribution, (ii) the Fourth Amendment Repayment Contribution or (iii) any other payment made (directly or indirectly) to Holdings or any of its Restricted Subsidiaries pursuant to the Acquisition Agreement) to the common capital of
Holdings (other than from a Restricted Subsidiary) received in cash after the Closing Date as long as such contribution has been contributed as common equity to the capital of the Borrower; plus”. 

  
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 (v) Section 1.01 of the Credit Agreement is hereby further
amended by adding the text “(including, without limitation, the Fourth Amendment Notes Documents)” immediately prior to the period (“.”) at the end of the definition of “Junior Financing Documentation”. 

(vi) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Permitted Refinancing” in its entirety as follows: 
 “Permitted Refinancing” means,
with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed
the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended, except by an amount equal to unpaid accrued interest and premium thereon plus other amounts paid, and fees
and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal, replacement or extension and by an amount equal to any existing commitments unutilized thereunder, (b) such modification, refinancing,
refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness
being modified, refinanced, refunded, renewed, replaced or extended, (c) at the time thereof, no Event of Default shall have occurred and be continuing, (d) if such Indebtedness is a Junior Financing, to the extent such Indebtedness being
modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal, replacement or extension shall be subordinated in right of payment to the
Obligations on terms not materially less favorable to the Loan Parties or the Lenders than the terms and conditions of the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, taken as a whole, (e) to the extent
such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is secured by a subordinated Lien on the Collateral, the Lien on the Collateral securing such modification, refinancing, refunding, renewal, replacement or
extension shall have a subordinated lien on the Collateral on terms not materially less favorable to the Loan Parties or the Lenders than the terms and conditions of the Indebtedness being modified, refinanced, refunded, renewed, replaced or
extended, taken as a whole, (f) to the extent such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is unsecured, such modification, refinancing, refunding, renewal, replacement or extension shall be unsecured;
provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and
conditions of such subordination or drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement in preceding clause (d), (e) or (f), as the case may
be, shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent notifies the Borrower within such five Business Day period that it disagrees with such determination (including a reasonable

  
 6 

 
description of the basis upon which it disagrees) and (g) such modification, refinancing, refunding, renewal, replacement or extension is incurred by the Person who is the obligor of the
Indebtedness being modified, refinanced, refunded, renewed, replaced or extended.”. 
 (vii)
Section 1.01 of the Credit Agreement is hereby further amended by restating clause (iii) of the definition of “Permitted Securitization” as follows: 
 “(iii) the sum of the Maximum Securitization Facility Sizes for all Securitizations shall not at any time exceed $260,000,000 and”. 

(viii) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Second Lien Notes Representative” in its entirety as follows: 
 “Second Lien Notes
Representative” means, with respect to any series of Permitted Refinancing Notes or Fourth Amendment Notes that are secured on a second lien basis, the trustee, administrative agent, collateral agent, security agent, security trustee or
similar agent under the indenture, collateral trust agreement or other agreement pursuant to which such Permitted Refinancing Notes or Fourth Amendment Notes are issued, incurred or otherwise obtained and each of their successors in such
capacities.”. 
 (ix) Section 1.01 of the Credit Agreement is hereby further amended by
restating the definition of “Second Lien Obligations” in its entirety as follows: 
 “Second
Lien Obligations” means Permitted Refinancing Notes and Fourth Amendment Notes that are intended to have a Lien on the Collateral that ranks junior to the Lien of the Secured Parties securing the Obligations.”. 

(b) Amendment to Section 2.05 (Prepayments). Section 2.05(b)(iii) of the Credit Agreement is hereby restated in
its entirety as follows: 
 “(iii) If Holdings or any Restricted Subsidiary incurs or issues (x) any Permitted
Refinancing Notes, (y) any Fourth Amendment Notes or (z) any other Indebtedness not described in the preceding clause (x) or (y) after the Closing Date (other than, in the case of this clause (z), Indebtedness not
prohibited under Section 7.03), the Borrower shall cause to be prepaid an aggregate principal amount of Term Loans in an amount equal to 100% of all Net Proceeds received therefrom on the date such Net Proceeds are received by Holdings
or such Restricted Subsidiary.”. 
 (c) Amendment to Section 7.01 (Liens). Section 7.01(dd) of the
Credit Agreement is hereby restated in its entirety as follows: 
 “(dd) (i) Liens created under any Permitted
Refinancing Notes Documents on Collateral securing Permitted Refinancing Notes that constitute First Lien Obligations permitted to be incurred under Section 7.03(t); provided that holders of such Indebtedness (or the First Lien
Notes Representative) and the Collateral Agent shall have executed and delivered a First Lien Intercreditor Agreement and (ii) Liens created 

  
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under (x) any Permitted Refinancing Notes Documents on Collateral securing Permitted Refinancing Notes that constitute Second Lien Obligations permitted to be incurred under
Section 7.03(t) or (y) any Fourth Amendment Notes Documents on Collateral securing Fourth Amendment Notes permitted to be incurred under Section 7.03(o); provided that, in the case of the preceding clauses
(x) and (y), holders of such Indebtedness (or the respective Second Lien Notes Representative) and the Collateral Agent shall have executed and delivered a Second Lien Intercreditor Agreement;”. 

(d) Amendments to Section 7.03 (Indebtedness). 

(i) Section 7.03(o) of the Credit Agreement is hereby amended and restated as follows: 

“(o) Fourth Amendment Notes of the Borrower and Trinseo Materials Finance incurred under Fourth Amendment Notes Documents so long as
(i) all such Indebtedness is incurred in accordance with the requirements of the definition of Permitted Refinancing Notes (other than clauses (iv) and (viii) thereof), (ii) no Default then exists or would result therefrom,
(iii) the aggregate principal amount thereof does not at any time exceed $350,000,000 and 100% of the Net Proceeds therefrom shall be used to repay the Loans pursuant to Section 2.05(b)(iii) and (iv) the Borrower shall have
furnished to the Administrative Agent a certificate from a Responsible Officer certifying as to compliance with the requirements of the preceding clauses (i), (ii) and (iii);”. 

(ii) Section 7.03(t) of the Credit Agreement is hereby amended and restated as follows: 

“(t) Permitted Refinancing Notes of the Borrower incurred under Permitted Refinancing Notes Documents so long as (i) all such
Indebtedness is incurred in accordance with the requirements of the definition of Permitted Refinancing Notes, (ii) no Default then exists or would result therefrom, (iii) such Permitted Refining Notes are utilized solely to repay Loans
and pay out of pocket transaction expenses incurred in connection therewith and the Net Proceeds therefrom shall be used to repay the Loans pursuant to Section 2.05(b)(iii), (iv) calculations are made by the Borrower demonstrating
Pro Forma Compliance with the covenants set forth in Section 7.11 and (v) the Borrower shall have furnished to the Administrative Agent a certificate from a Responsible Officer certifying as to compliance with the requirements of
preceding clauses (i), (ii), (iii) and (iv) and containing the calculations required by preceding clause (iv) for issuance of all such Indebtedness;”. 
 (e) Amendment to Section 7.10 (Capital Expenditures). The chart contained in Section 7.10(a) of the Credit Agreement is hereby amended and restated in its entirety as follows:

  

					
	 Fiscal Year Ending
	  	Amount	 
		
	 December 31, 2011
	  	$	115,000,000	  
		
	 December 31, 2012
	  	$	125,000,000	  
		
	 December 31, 2013
	  	$	75,000,000	  
		
	 December 31, 2014 and thereafter
	  	$	150,000,000	  

  
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 provided that for the fiscal year of Holdings (if any) in which the Term Loan
Repayment Condition is satisfied and each succeeding fiscal year (in each case, taken as one accounting period), the Borrower and its Restricted Subsidiaries may make Capital Expenditures so long as the aggregate amount of all such Capital
Expenditures does not exceed in any such fiscal year of Holdings set forth below the amount set forth opposite such fiscal year below: 
  

					
	 Fiscal Year Ending
	  	Amount	 
		
	 December 31, 2011
	  	$	115,000,000	  
		
	 December 31, 2012
	  	$	125,000,000	  
		
	 December 31, 2013
	  	$	75,000,000	  
		
	 December 31, 2014 and thereafter
	  	$	170,000,000	  

 (f) Amendment to Section 7.11 (Financial Covenants). Section 7.11 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 a) Total Leverage Ratio. Holdings shall not
permit the Total Leverage Ratio on the last day of any fiscal quarter set forth below to be greater than the ratio set forth below opposite such fiscal quarter: 
  

					
	 Fiscal Quarter Ending
	  	Maximum Total
Leverage Ratio	 
		
	 June 30, 2012
	  	 	5.25:1.00	  
		
	 September 30, 2012
	  	 	5.25:1.00	  
		
	 December 31, 2012
	  	 	5.25:1.00	  
		
	 March 31, 2013
	  	 	5.25:1.00	  
		
	 June 30, 2013
	  	 	5.00:1.00	  
		
	 September 30, 2013
	  	 	5.00:1.00	  
		
	 December 31, 2013
	  	 	5.00:1.00	  
		
	 March 31, 2014
	  	 	3.75:1.00	  

  
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	 Fiscal Quarter Ending
	  	Maximum Total
Leverage Ratio	 
		
	 June 30, 2014
	  	 	3.75:1.00	  
		
	 September 30, 2014
	  	 	3.75:1.00	  
		
	 December 31, 2014
	  	 	3.75:1.00	  
		
	 March 31, 2015 and thereafter
	  	 	3.50:1.00	  

 provided that from and including the last day of the fiscal quarter (if any) in which the Term
Loan Repayment Condition is satisfied, Holdings shall not permit the Total Leverage Ratio on the last day of such fiscal quarter and the last day of each succeeding fiscal quarter set forth below to be greater than the ratio set forth below opposite
such fiscal quarter: 
  

					
	 Fiscal Quarter Ending
	  	Maximum Total
Leverage Ratio	 
		
	 June 30, 2012
	  	 	5.25:1.00	  
		
	 September 30, 2012
	  	 	5.25:1.00	  
		
	 December 31, 2012
	  	 	5.25:1.00	  
		
	 March 31, 2013
	  	 	5.25:1.00	  
		
	 June 30, 2013
	  	 	5.00:1.00	  
		
	 September 30, 2013
	  	 	5.00:1.00	  
		
	 December 31, 2013
	  	 	5.00:1.00	  
		
	 March 31, 2014
	  	 	4.50:1.00	  
		
	 June 30, 2014
	  	 	4.50:1.00	  
		
	 September 30, 2014
	  	 	4.50:1.00	  
		
	 December 31, 2014
	  	 	4.50:1.00	  
		
	 March 31, 2015 and thereafter
	  	 	4.25:1.00	  

  
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	 	(b)	Interest Coverage Ratio. Holdings shall not permit the Interest Coverage Ratio calculated as of the date of determination set forth below for the Test Period
applicable to such date of determination to be less than the ratio set forth below opposite such date of determination: 

  

					
	 Date of Determination
	  	Minimum Interest
Coverage Ratio	 
		
	 June 30, 2012
	  	 	2.00:1.00	  
		
	 September 30, 2012
	  	 	2.00:1.00	  
		
	 December 31, 2012
	  	 	2.00:1.00	  
		
	 March 31, 2013
	  	 	2.10:1.00	  
		
	 June 30, 2013
	  	 	2.10:1.00	  
		
	 September 30, 2013
	  	 	2.10:1.00	  
		
	 December 31, 2013
	  	 	2.10:1.00	  
		
	 March 31, 2014 and thereafter
	  	 	2.75:1.00	  

 provided that from and including the last day of the fiscal quarter (if any) in which the Term
Loan Repayment Condition is satisfied, Holdings shall not permit the Interest Coverage Ratio calculated as of the date of determination set forth below for the Test Period applicable to such date of determination to be less than the ratio set forth
below opposite such date of determination: 
  

					
	 Date of Determination
	  	Minimum Interest
Coverage Ratio	 
		
	 June 30, 2012
	  	 	2.00:1.00	  
		
	 September 30, 2012
	  	 	2.00:1.00	  
		
	 December 31, 2012
	  	 	2.00:1.00	  
		
	 March 31, 2013
	  	 	2.10:1.00	  
		
	 June 30, 2013
	  	 	2.10:1.00	  
		
	 September 30, 2013
	  	 	2.10:1.00	  
		
	 December 31, 2013
	  	 	2.10:1.00	  
		
	 March 31, 2014 and thereafter
	  	 	2.25:1.00	  

  
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 (g) Amendment to Section 7.13 (Prepayments, Etc. of Indebtedness).
Section 7.13(a) of the Credit Agreement is hereby restated in its entirety as follows: 
 “ (a) Holdings
shall not, nor shall Holdings permit any of its Restricted Subsidiaries to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of
regularly scheduled interest and AHYDO Payments shall be permitted) (x) any subordinated Indebtedness incurred under Section 7.03(g), (s) or (t), (y) any Fourth Amendment Notes incurred under
Section 7.03(o) or (z) any other Indebtedness that is required to be subordinated to the Obligations pursuant to the terms of the Loan Documents (all Indebtedness described under (x), (y) and (z), collectively, “Junior
Financing”) or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) the refinancing thereof with the Net Proceeds of any Indebtedness (to the extent such Indebtedness constitutes a
Permitted Refinancing and, if such Indebtedness was originally incurred under Section 7.03(g), is permitted pursuant to Section 7.03(g)), to the extent not required to prepay any Loans pursuant to Section 2.05(b),
(ii) the conversion of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of Holdings or any of its direct or indirect parent companies, (iii) the prepayment of Indebtedness of the Borrower or any
Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary to the extent not prohibited by the subordination provisions contained in the Intercompany Note, (iv) the prepayment of Junior Financing from, direct or indirect,
contributions by the Investors to the common equity capital of the Borrower received by the Borrower in cash after the Closing Date, (v) prepayments or purchases of Junior Financings with Declined Proceeds to the extent such prepayments or
purchases are required pursuant to the Junior Financing Documentation evidencing such Junior Financing and (vi) so long as the Total Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 2.00 to 1.00, in each case after giving
effect thereto, repayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an aggregate amount not to exceed the Cumulative Credit on such date that the Borrower elects to
apply pursuant to this clause (vi), such election to be specified in a written notice of a Responsible Officer of the Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof
elected to be so applied.” 
 (h) Amendment to Article VII (Negative Covenants). Article VII of the Credit
Agreement is hereby amended by adding the following new Section 7.21 (Covenants with Respect to Trinseo Materials Finance): 
 “Section 7.21 Covenants with Respect to Trinseo Materials Finance. Notwithstanding anything herein to the contrary, at all times that the Fourth Amendment Notes remain outstanding and Trinseo
Materials Finance is a co-issuer or issuer thereof, Trinseo Materials Finance (a) shall be a Restricted Subsidiary hereunder, (b) shall not, at any time, own any assets (including cash, bank accounts or any other property), (c) shall
not at any time, establish, create or acquire any Subsidiary or otherwise own the capital stock or any Person, or (d) shall not, without the prior written consent of the Required Lenders, amend, modify or change Article Three or Article Eleven
of its certificate of incorporation.”. 

  
 12 

 (i) Amendment to Section 9.01 (Administration Agent and Other Agents).
Section 9.01 of the Credit Agreement is hereby amended by the insertion of the following sub-section (n) at the end thereof: 
 “(n) With respect to any Irish Transaction Security: 
 To the
extent that any and/or all rights, interests, benefits and other property comprised in the Irish Transaction Security and the proceeds thereof (the “Trust Property”) is not transferred, charged or granted to the Collateral Agent on trust
pursuant to the relevant Loan Documents, the Collateral Agent declares itself trustee of the Trust Property to hold the same on trust for the Secured Parties for the purpose of securing the Obligations on the terms and subject to the conditions set
out in the relevant Loan Documents provided that it is hereby agreed that, in relation to any jurisdiction the courts of which would not recognize or give effect to the trusts expressed to be created by this Agreement and any other applicable Loan
Document, the relationship of the Secured Parties to the Collateral Agent shall be construed as one of principal and agent.” 
 (j) Amendment to Section 9.11 (Collateral and Guaranty Matters). Section 9.11(d) of the Credit Agreement is hereby restated in its entirety as follows: 

“(d) to enter into the First Lien Intercreditor Agreement and/or a Second Lien Intercreditor Agreement, as the case may be, upon the
incurrence of (x) any Permitted Refinancing Notes incurred pursuant to Section 7.03(t) and permitted to be lien secured pursuant to Section 7.01(dd)(i) or (ii) or (y) any Fourth Amendment Notes incurred
pursuant to Section 7.03(o) and permitted to be lien secured pursuant to Section 7.01(d)(ii), as applicable; provided that the Borrower shall have provided, and the Administrative Agent and the Collateral Agent shall
be entitled to rely upon, an officer’s certificate by a Responsible Officer to the effect that (x) such Permitted Refinancing Notes are permitted to be incurred under Section 7.03(t) and permitted to be secured pursuant to
Section 7.01(dd)(i) or (ii) or (y) such Fourth Amendment Notes are permitted to be incurred under Section 7.03(o) and permitted to be secured pursuant to Section 7.01(dd)(ii), as
applicable.”. 
 (k) Amendment to Section 10.07 (Successors and Assigns). Section 10.07(b)(ii)(B)
is hereby amended by adding the following text before the first semicolon (“;”) appearing in such Section: “(unless such fee is waived by the Administrative Agent)”. 

(l) Amendments to Exhibits. Exhibit D (Compliance Certificate) of the Credit Agreement is hereby amended by replacing such
Exhibit with Exhibit A hereto. 

  
 13 

 SECTION 3. Conditions of Effectiveness. The amendments set forth in
Section 1 and Section 2 shall each become effective on the date when the following conditions shall have been satisfied: 
 (a) Fourth Amendment: the Administrative Agent shall have received a duly executed signature page to this Fourth Amendment from each of the Loan Parties and Lenders constituting the Required
Lenders on the date of effectiveness of the Fourth Amendment; 
 (b) Contribution to the Borrower and Repayment of Term
Loans: the Borrower shall repay not less than $140,000,000 in aggregate principal amount of Term Loans, the entire source of which repayment shall be a contribution to the common equity of the Borrower or the repayment of intercompany
Indebtedness owed by a parent of the Borrower to the Borrower, and not less than $90,000,000 of such repayment shall be comprised of the proceeds of an issuance by a parent of the Borrower to the Investors of Qualified Equity Interests, the proceeds
of which are contributed to the common equity of the Borrower or used to repay intercompany Indebtedness owed by a parent of the Borrower to the Borrower, such issuance to occur substantially contemporaneously with such repayment; 

(c) Fees and Expenses: the Borrower shall have paid in full all fees and reasonable out-of-pocket expenses (i) incurred by
the Administrative Agent in connection with the preparation, negotiation and execution of the Second Amendment and this Fourth Amendment required to be paid in connection with the Second Amendment and this Fourth Amendment and (ii) of counsel
to the Administrative Agent (including Attorneys Costs of White & Case LLP) in connection with the Second Amendment and this Fourth Amendment, the Credit Agreement and the other Loan Documents, in each case to the extent invoiced on or
prior to the Fourth Amendment Effective Date; 
 (d) Consent Fee: each of the Lenders with outstanding Term Loans and/ or
Revolving Credit Commitments that executes this Fourth Amendment shall have received a fee payable to the account of such Lender in an amount equal to 0.50% times the sum of the outstanding principal amount of the Term Loans held by such
Lender after giving effect to the repayment thereof contemplated by Section 3(b) above plus the aggregate amount of such Lender’s Revolving Credit Commitment; 
 (e) Officer’s Certificate: the Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower, certifying that the conditions precedent set forth in
Section 4.02 of the Credit Agreement have been satisfied on and as of the Fourth Amendment Effective Date; 
 (f)
Legal Opinions: the Administrative Agent shall have received from each of (i) Kirkland & Ellis LLP, New York counsel to the Borrower and (ii) Loyens & Loeff, Luxembourg counsel to the Borrower, an opinion addressed
to the Administrative Agent, the Collateral Agent and the Lenders and dated the Fourth Amendment Effective Date, which opinion shall be in form and substance reasonably satisfactory to the Administrative Agent; and 

(g) Reaffirmation of Obligations and Loan Documents: the Administrative Agent shall have received a Guarantor Consent and
Reaffirmation, substantially in the form attached hereto as Annex B, duly executed and delivered by each Guarantor. 
 SECTION
4. Representations and Warranties. The Borrower and each of the other Loan Parties represent and warrant as follows as of the date hereof and as of the Fourth Amendment Effective Date: 

(a) The execution, delivery and performance by each Loan Party of this Fourth Amendment are within such Loan Party’s corporate or
other powers and have been duly authorized by all necessary corporate or other organizational action. Neither the execution, delivery and performance by 

  
 14 

 
each Loan Party of this Fourth Amendment will (a) contravene the terms of such Person’s Organization Documents, (b) conflict with or result in any breach or contravention of, or
the creation of any Lien upon any of the property or assets of the Borrower or any of the Restricted Subsidiaries (other than as permitted by Section 7.01 of the Credit Agreement), or require any payment under (i) any Contractual
Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Restricted Subsidiaries or (ii) any material order, injunction, writ or decree of any Governmental Authority or any arbitral
award to which such Person or its property is subject; or (c) violate any applicable material Law, except to the extent that any such breach, contravention or payment (but not the creation of any Lien) referred to in clause (b)(i) could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) This Fourth Amendment has
been duly executed and delivered by each Loan Party that is a party to the Loan Documents and constitutes a legal, valid and binding obligation of each Loan Party that is a party hereto or thereto, enforceable against such Loan Party in accordance
with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity. 
 (c)
Upon the effectiveness of each and all parts of this Fourth Amendment, and both before and immediately after giving effect to each and all parts of this Fourth Amendment, no Default or Event of Default exists. 

(d) Each of the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement
and each other Loan Document immediately before and after giving effect to each and all parts of this Fourth Amendment is true and correct in all material respects on and as of the date hereof; provided that, to the extent that such
representations and warranties specifically refer to an earlier date, they are true and correct in all material respects as of such earlier date. 
 SECTION 5. Reference to and Effect on the Credit Agreement and the Loan Documents. 
 (a) On and after the Fourth Amendment Effective Date each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to
the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Fourth Amendment. 
 (b) The
Credit Agreement and each of the other Loan Documents, as specifically amended by each and all parts of this Fourth Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without
limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case, as amended by
this Fourth Amendment. 
 (c) The execution, delivery and effectiveness of any part of this Fourth Amendment shall not, except
as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. On and after the
effectiveness of any part of this Fourth Amendment, this Fourth Amendment shall for all purposes constitute a Loan Document. 

SECTION 6. Execution in Counterparts. This Fourth Amendment may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. Delivery by facsimile or electronic transmission of an executed counterpart of a signature page to this Fourth Amendment shall be effective as delivery of an
original executed counterpart of this Fourth Amendment. 

  
 15 

 SECTION 7. Governing Law. This Fourth Amendment shall be governed by, and construed
in accordance with, the law of the State of New York (without regard to conflict of laws principles other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

[The remainder of this page is intentionally left blank] 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	TRINSEO MATERIALS OPERATING S.C.A.,
	as the Borrower
	
	 a Société en commandite par actions

Registered office: 9A rue Gabriel Lippmann
 L-5365 Munsbach,
Luxembourg
 R.C.S. Luxembourg: B 153.586

		
	By:	 	/s/ Ailbhe Jennings
		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 Executed by STYRON AUSTRALIA PTY LTD ACN 141 196 330 in accordance with section 127 of the
Corporations Act 2001 (Cth): 
  

	
	/s/ Andre Hugentobler
	
	Signature of sole director
	
	Andre Hugentobler
	
	Full name of sole director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON BELGIUM BVBA, as a Guarantor
		
	By:	 	/s/ Frans Kempenaars
		 	Name:	 	Frans Kempenaars
		 	Title:	 	Director
		
	By:	 	/s/ FRANS HORDIES
		 	Name:	 	FRANS HORDIES
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON CANADA ULC, as a Guarantor
		
	By:	 	/s/ Paul Moyer
		 	Name:	 	Paul Moyer
		 	Title:	 	President and Secretary

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON FRANCE SAS, as a Guarantor
		
	By:	 	 /s/ Christian Page

		 	Name:	 	Christian Page
		 	Title:	 	Chairman

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON DEUTSCHLAND GMBB, as a Guarantor
		
	By:	 	 /s/ Ralf Irmert

		 	Name:	 	Ralf Irmert
		 	Title:	 	Managing Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON DEUTSCHLAND ANLAGENGESELLSCHAFT MBH, as a Guarantor
		
	By:	 	 /s/ Hans-Heinrich Neuhaus

		 	Name:	 	Hans-Heinrich Neuhaus
		 	Title:	 	Managing Director

 Director 

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 IN WITNESS WHEREOF, Styron (Hong Kong) Limited has caused this Fourth Amendment to be duly
executed and delivered as a deed, as of the date first above written. 
  

					
	STYRON (HONG KONG) LIMITED	  		  	
			
	 SEALED with the COMMON SEAL
 of STYRON (HONG
KONG) LIMITED and SIGNED by Lee Chung Lok, a director, in the presence of
	  		  	
			
	 /s/ Lee Chung Lok
	  	

	  	
	 [Signature of Director]
 Lee
Chung Lok
 Director
	  	  	
	  	  	
	  	  	
	 /s/ Lau Yuk Mei
  

[Signature of Witness]
	  	  	
	  		  	

					
			
	Name of Witness:	  	Lau Yuk Mei	  	
			
	Address of Witness:	  	40-50 Tsing Yi Road, Tsing Yi Island, Hong Kong	  	
			
	Occupation of Witness:	  	Administrative Specialist	  	

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 IN WITNESS WHEREOF, Styron (Hong Kong) Limited has caused this Fourth Amendment to be duly
executed and delivered as a deed, as of the date first above written. 
  

					
	STYRON (HONG KONG) LIMITED	  		  	
			
	SEALED with the COMMON SEAL of STYRON (HONG KONG) LIMITED and SIGNED by Lin Zhiqiang, a director, in the presence of	  		  	
			
	 /s/ Lin Zhiqiang
	  		  	
	[Signature of Director]	  		  	
	Lin Zhiqiang	  		  	
	Director	  		  	
			
	 /s/ Daphne Cheng
	  		  	
			
	[Signature of Witness]	  		  	

			
		
	Name of Witness:	  	Daphne Cheng
		
	Address of Witness:	  	Rm. 1105 Poly Center, No. 5, LinJiang Avenue. GZ, China
		
	Occupation of Witness:	  	Office Administrative

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 IN WITNESS WHEREOF, Styron Materials Ireland and Styron Investment Holdings Ireland have
duly executed, and delivered as a deed, this Fourth Amendment Agreement. 
  

					
	Given under the Common Seal of STYRON MATERIALS IRELAND	  		  	 

	  
 

  
	  		  
	  
 Director
	  		  
	  
 

  
	  		  
	  
 Director
	  		  	
			
	Given under the Common Seal of STYRON INVESTMENT HOLDINGS IRELAND	  		  	

	  
 

  
	  		  
	  
 Director
	  		  
	  
 

  
	  		  
			
	Director	  		  	

  
 [Signature
Page to Fourth Amendment to Credit Agreement] 

 
					
	STYRON ITALIA S.R.L., as a Guarantor
		
	By:	 	 /s/ Fabio Cataldi

		 	Name:	 	Fabio Cataldi
		 	Title:	 	Managing Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	 TRINSEO S.A.,
 as a
Guarantor

	
	a Société anonyme
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	R.C.S. Luxembourg: B 153.549
		
	By:	 	 /s/ Ailbhe Jennings

		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 
					
	 STYRON LUXCO S.À R.L.,

as a Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	R.C.S. Luxembourg: B 153.577
		
	By:	 	 /s/ Ailbhe Jennings

		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 
					
	 STYRON HOLDINGS S.À R.L.,

as a Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	R.C.S. Luxembourg: B 153.582
		
	By:	 	 /s/ Ailbhe Jennings

		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 
					
	 TRINSEO MATERIALS S.A R.L.,

as a Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	R.C.S. Luxembourg: B 162.639
		
	By:	 	 /s/ Ailbhe Jennings

		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 
					
	 STYRON FINANCE LUXEMBOURG S.À R.L.,

as a Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann
	L-2163 Luxembourg, Luxembourg
	R.C.S. Luxembourg: B 151.012
		
	By:	 	 /s/ Ailbhe Jennings

		 	Name:	 	Ailbhe Jennings
		 	Title:	 	Manager

 
					
	STYRON HOLDING B.V., as a Guarantor
		
	By:	 	 /s/ Frans Kempenaars

		 	Name:	 	Frans Kempenaars
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON NETHERLANDS B.V., as a Guarantor
		
	By:	 	 /s/ Frans Kempenaars

		 	Name:	 	Frans Kempenaars
		 	Title:	 	Director
		
	By:	 	 /s/ Rudolf Van Beelen

		 	Name:	 	Rudolf Van Beelen
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

	
	STYRON HOLDINGS ASIA PTE. LTD.
	
	 /s/ Jessie Heng Hwee Koon

	
	Jessie Heng Hwee Koon
	
	Director
	
	 /s/ Nova E Umbas-Irby

	
	Nova E Umbas-Irby
	
	Director
	
	Address:
	
	3 Killiney Road, #07-08/09 Winsland House I
	Singapore 239519
	
	Fax No: +65 6737-1294
	
	Attention:

  
 [Signature Page to Fourth
Amendment to Credit Agreement] 

	
	STYRON SINGAPORE PTE. LTD.
	
	 /s/ Jessie Heng Hwee Koon 

	
	Jessie Heng Hwee Koon
	
	Director
	
	 /s/ Nova E Umbas-Irby

	
	Nova E Umbas-Irby
	
	Director
	
	Address:
	
	3 Killiney Road, #07-08/09 Winsland House I
	Singapore 239519
	
	Fax No: +65 6737-1294
	
	Attention:

  
 [Signature Page to Fourth
Amendment to Credit Agreement] 

 
					
	STYRON SPAIN S.L., Sociedad Unipersonal as a Guarantor
		
	By:	 	 /s/ Walter Bosschieter

		 	Name:	 	Walter Bosschieter
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON SVERIGE AB, as a Guarantor
		
	By:	 	 /s/ Erkki Kesti 

		 	Name:	 	Erkki Kesti
		 	Title:	 	Ordinary Member

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON EUROPE GMBH, as a Guarantor
		
	By:	 	 /s/ Marco Levi 

		 	Name:	 	Marco Levi
		 	Title:	 	Manager

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON UK LIMITED, as a Guarantor
		
	By:	 	 /s/ Marco Levi 

		 	Name:	 	Marco Levi
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON LLC, as a Guarantor
		
	By:	 	 /s/ Christopher D. Pappas

		 	Name:	 	Christopher D. Pappas
		 	Title:	 	President and Chief Executive Officer

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	STYRON US HOLDING, INC., as a Guarantor
		
	By:	 	 /s/ Christopher D. Pappas

		 	Name:	 	Christopher D. Pappas
		 	Title:	 	President and Chief Executive Officer

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	TRINSEO MATERIALS FINANCE, INC., as a Guarantor
		
	By:	 	 /s/ Christopher D. Pappas

		 	Name:	 	Christopher D. Pappas
		 	Title:	 	President and Chief Executive Officer

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 
					
	DEUTSCHE BANK AG NEW YORK BRANCH,
	Individually and as Administrative Agent
		
	By:	 	/s/ Marcus M. Tarkington
		 	Name:	 	Marcus M. Tarkington
		 	Title:	 	Director
		
	By:	 	/s/ Evelyn Thierry
		 	Name:	 	Evelyn Thierry
		 	Title:	 	Director

  
 [Signature Page to
Fourth Amendment to Credit Agreement] 

 Exhibit A to 
 Fourth Amendment to Credit Agreement 
 Exhibit D 

COMPLIANCE CERTIFICATE 
 [see attached] 

 EXHIBIT D 
 [FORM OF] 
 COMPLIANCE CERTIFICATE 

Reference is made to the Credit Agreement dated as of June 17, 2010 (as amended, supplemented, waived or otherwise modified from
time to time, the “Credit Agreement”), among TRINSEO MATERIALS OPERATING S.C.A. (formerly known as STYRON S.A R.L. and TRINSEO MATERIALS OPERATING S.A R.L.), a partnership limited by shares (société en commandite
par actions) organized under the laws of Luxembourg (the “Borrower”), the Guarantors party thereto from time to time, the lenders and other parties thereto from time to time and DEUTSCHE BANK AG NEW YORK BRANCH, as
Administrative Agent (capitalized terms used herein have the meanings attributed thereto in the Credit Agreement unless otherwise defined herein). Pursuant to Section 6.02(a) of the Credit Agreement, the undersigned, solely in his/her capacity
as a Responsible Officer of Holdings, certifies as follows: 
  

	 	1.	 [Attached hereto as Exhibit A is the consolidated balance sheet of Holdings and its Subsidiaries as of December 31, 20[    ]
and the related consolidated statements of income or operations, stockholders’ equity and cash flows for the fiscal year then ended, [setting forth in each case in comparative form the figures for the previous fiscal year,]1with accompanying management discussion and analysis, 2all in reasonable detail and prepared in accordance with GAAP, audited
and accompanied by a report and opinion of PricewaterhouseCoopers LLP or any other independent registered public accounting firm of nationally recognized standing, which report and opinion has been prepared in accordance with generally accepted
auditing standards and not subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit. Also attached hereto as Exhibit A are the related consolidating financial
statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) (which may be in footnote form only) from such consolidated financial
statements.]3 

 

	 	2.	 [Attached hereto as Exhibit A is the consolidated balance sheet of Holdings and its Subsidiaries as of
[                    ] and the related (i) consolidated statements of income or operations for such fiscal quarter and for the portion of the
fiscal year then ended and (ii) consolidated statements of cash flows for such fiscal quarter and the portion of the fiscal year then ended, [setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the
previous fiscal year and the corresponding portion of the previous fiscal year,]4 to the extent required by Section 6.01(b) of the Credit Agreement all in reasonable detail. These present fairly in all material respects the financial condition, results of operations,
stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. Also attached hereto as Exhibit A are the related consolidating
financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) (which may be in footnote form only) from such consolidated financial statements.]5 

 

	1 	 Subject to Section 1.05 of the Credit Agreement 

	2 	 Such comparative figures and accompanying management discussions and analysis shall not be required to be delivered for the fiscal year ending
December 31, 2010. 

	3 	 To be included if accompanying annual financial statements only. 

	4 	 Subject to Section 1.05 of the Credit Agreement 

	5 	 To be included if accompanying quarterly financial statements only. 

  
 D-1

	 	3.	[Attached as Exhibit B hereto is a detailed consolidated budget for 20[    ] (including a projected consolidated balance sheet of Holdings and its Subsidiaries as of the end of
20[    ], the related consolidated statements of projected cash flow and projected income and a summary of the material underlying assumptions applicable thereto) (collectively, the “Projections”), which
Projections are prepared in good faith and are based on the reasonable assumptions at the time of preparation of such Projections it being understood that actual results may vary from such Projections and such variations may be material.]6 

  

	 	4.	To my knowledge, except as otherwise disclosed to the Administrative Agent pursuant to the Credit Agreement, no Default has occurred. [If unable to provide the foregoing certification, describe in reasonable detail the
reasons therefor and circumstances thereof and any action taken or proposed to be taken with respect thereto on Annex A attached hereto.] 

  

	 	5.	[The following represent true and accurate calculations, as of [                    ], to be used to determine
compliance with the covenants set forth in Section 7.11 of the Credit Agreement: 

  

			
	 Total Leverage Ratio:
	  	
		
	 Consolidated Total Net Debt=
	  	[        ]
	 Consolidated EBITDA=
	  	[        ]
	 Actual Ratio=
	  	[        ] to 1.0
	 Required Ratio=
	  	[        ] to 1.0
		
	 Interest Coverage Ratio:
	  	
		
	 Consolidated EBITDA=
	  	[        ]
	 Consolidated Interest Expense=
	  	[        ]
	 Actual Ratio=
	  	[        ] to 1.0
	 Required Ratio=
	  	[        ] to 1.0

 Supporting detail showing the calculation of Total Leverage Ratio and Consolidated Interest Expense is attached
hereto as Schedule 1.]7 
  

	6 	To be included only in annual compliance certificate. 

	7 	Insert if Section 7.11 is applicable for the reporting period. 

  
 D-2 

	 	6.	The following represent true and accurate calculations, as of [                    ], to be used to determine the
Applicable Margin for Term Loans following the Fourth Amendment Effective Date: 

  

			
	 Senior Secured Leverage Ratio:
	  	
	 Consolidated Total Senior Secured Indebtedness=
	  	[        ]
	 Consolidated EBITDA excluding the amount of any Specified Equity Contribution =
	  	[        ]
	 Actual Ratio=
	  	[        ] to 1.0

 Supporting detail showing the calculation of Senior Secured Leverage Ratio is attached hereto as Schedule
1. 
  

	 	7.	[Attached hereto as Schedule 2 are detailed calculations setting forth Excess Cash Flow.]8 

 

	 	8.	[Attached hereto is the information required by Section 6.02(d) of the Credit Agreement.]9]10

  

	8 	To be included only in annual compliance certificate. 

	9 	Information required by Section 6.02(d)(i) to be included only in annual compliance certificate. 

	10 	Items 4-6 may be disclosed in a separate certificate no later than 5 business days after delivery of the financial statements pursuant to Section 6.02(a) of the Credit Agreement. 

  
 D-3 

 SCHEDULE 1 

 

											
	(A)	 	Total Leverage Ratio: Consolidated Total Net Debt to Consolidated EBITDA	 	
			
	 (1)    
	 	Consolidated Total Net Debt as of [            ], 20[    ]:	 	
				
		 	(a)	 	At any date of determination, the aggregate principal amount of Indebtedness of Holdings, its Restricted Subsidiaries and the Securitization Subsidiaries that are
consolidated entities of Holdings in accordance with GAAP outstanding on such date, in an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any
discounting of Indebtedness resulting from the application of purchase accounting in connection with the Transactions or any Permitted Acquisition) consisting of the sum of the following:	 	
					
		 		 	(i)	 	Indebtedness for borrowed money	 	                     
					
		 		 	(ii)	 	Attributable Indebtedness	 	                     
					
		 		 	(iii)	 	debt obligations evidenced by promissory notes or similar instruments	 	                     
				
		 		 	minus	 	                     
				
		 	(b)	 	the lesser of (x) the aggregate amount of cash and Cash Equivalents (other than Restricted Cash) included in the consolidated balance sheet of Holdings and its
Restricted Subsidiaries in each case, free and clear of Liens at all times, other than non consensual Liens pursuant by Section 7.01 as of such date and (y) the sum of (i) $75,000,000 (for purposes of clauses (x) and (y) to the extent such
cash or Cash Equivalents is held in a deposit account or securities account subject to the Administrative Agent’s control (within the meaning of Section 8–106(d) or 9–104, as applicable, of the UCC), or in a deposit account or
securities account from which deposits are swept into such a controlled account at least once per week) and (ii) the aggregate principal amount of outstanding Indebtedness of each Securitization Subsidiary that is a consolidated entity of Holdings
in accordance with GAAP under all Permitted Securitizations on such date,	 	                     
		
	Consolidated Total Net Debt shall not include Indebtedness in respect of letters of credit, except to the extent of unreimbursed amounts thereunder; provided that
any unreimbursed amount under commercial letters of credit shall not be included as Consolidated Total Net Debt until three (3) Business Days after such amount is drawn, (ii) obligations under Swap Contracts entered into for non-speculative purposes
shall not constitute Consolidated Total Net Debt and (iii) the aggregate principal amount of the	 	

											
	Revolving Credit Facility during any relevant period shall be calculated based on the daily average outstanding amount of the Revolving Credit Loans and the Swing Line
Loans during such period.	 	
			
		 	Consolidated Total Net Debt	 	                     
			
	(2)	 	Consolidated EBITDA:	 	
			
		 	(a)	 	Consolidated Net Income:
					
		 		 	(i)	 	the net income (loss) of Holdings in accordance with GAAP; the Restricted Subsidiaries and the Securitization Subsidiaries that are consolidated entities of Holdings for
such period determined on a consolidated basis in accordance with GAAP (which shall be determined with respect to any period ending on or prior to the Closing Date in accordance with Section 1.05(b)), excluding, without duplication:	 	                     
						
		 		 		 	(A)	  	after-tax effect of non-recurring or extraordinary items (including gains or losses and all fees and expenses relating thereto) for such period,	 	                     
						
		 		 		 	(B)	  	the cumulative effect of a change in accounting principles during such period to the extent included in Consolidated Net Income,	 	                     
						
		 		 		 	(C)	  	any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any acquisition, investment, asset disposition, issuance or
repayment of debt, issuance of equity securities, refinancing transaction or amendment or other modification of any debt instrument and any charges or non-recurring merger costs incurred during such period as a result of any such transaction, in
each case for any such fee, expense or cost whether or not successful (including, for the avoidance of doubt the effects of expensing all transaction related expenses in accordance with Financial Accounting Standards No. 141(R) and gains or losses
associated with FASB Interpretation No. 45),	 	                     
						
		 		 		 	(D)	  	accruals and reserves that are established or adjusted within twelve months after the Closing Date that are so required to be established as a result of the Transactions in
accordance with	 	                
    

  
 -2-

											
		 		 		 		  	GAAP or changes as a result of adoption or modification of accounting policies in accordance with GAAP,	 	
						
		 		 		 	(E)	  	any net after-tax gains or losses from abandoned, disposed of or discontinued operations,	 	                     
						
		 		 		 	(F)	  	any net after-tax effect of gains or losses (less all fees, expenses and charges) attributable to asset dispositions or the sale or other disposition of any Equity Interests of any
Person in each case other than in the ordinary course of business, as determined in good faith by Holdings,	 	                     
						
		 		 		 	(G)	  	the net income (loss) for such period of any Person that is not a Subsidiary of Holdings, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of
accounting; provided that Consolidated Net Income of Holdings shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash Equivalents (or to the extent subsequently converted into cash or
Cash Equivalents) to Holdings or a Restricted Subsidiary thereof in respect of such period,	 	                     
						
		 		 		 	(H)	  	any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets, investments
in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP,	 	                     
						
		 		 		 	(I)	  	any non-cash compensation charge or expense, including any such charge or expense arising from the grants of stock appreciation or similar rights, stock options, restricted stock or
other rights or equity incentive programs and any cash charges associated with the rollover, acceleration or payout of Equity Interests by management of Holdings or the Seller or any of its direct or indirect Restricted Subsidiaries in connection
with the Transactions,	 	                     
						
		 		 		 	(J)	  	any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any Investment,	 	                
    

  
 -3-

											
		 		 		 		  	Permitted Acquisition or any sale, conveyance, transfer or other disposition of assets permitted under the Credit Agreement, to the extent that such amount is in fact indemnified or
reimbursed within 365 days of such determination (with a deduction in the applicable future period of any amount so added back to the extent not so indemnified or reimbursed within such 365 days),	 	
						
		 		 		 	(K)	  	to the extent covered by insurance and actually reimbursed, expenses, charges or losses with respect to liability or casualty events or business interruption,	 	                     
						
		 		 		 	(L)	  	any net pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts
arising in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at the date of initial application of Statement on Financial Accounting Standards Nos. 87, 106 and 112, and any other items of a similar
nature,	 	                     
						
		 		 		 	(M)	  	the income (or loss) of any Person accrued prior to the date it becomes a Restricted Subsidiary of Borrower, or is merged into, amalgamated or consolidated with Borrower or any of
its Restricted Subsidiaries or that Person’s assets are acquired by Borrower or any of its Restricted Subsidiaries (except to the extent required for any calculation of Consolidated EBITDA on a Pro Forma Basis in accordance with Section
1.10),	 	                     
						
		 		 		 	(N)	  	any non-cash interest expense attributable to the movement of the mark-to-market valuation of obligations under Swap Contracts or other derivative instruments pursuant to Statement
of Financial Accounting Standards No. 133,	 	
						
		 		 		 	(O)	  	the income of any Restricted Subsidiary of the Borrower that is not a Guarantor to the extent that the declaration or payment of dividends or similar distributions by that
Restricted Subsidiary of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree,	 	

  
 -4-

											
		 		 		 		  	order, statute, rule or governmental regulation applicable to that Restricted Subsidiary (which has not been waived) shall be excluded, except (solely to the extent permitted to be
paid) to the extent of the amount of dividends or other distributions actually paid to the Borrower or any of its Restricted Subsidiaries that are Guarantors by such Person during such period in accordance with such documents and
regulations,	 	
		
	There shall be excluded from Consolidated Net Income for any period the purchase accounting effects of adjustments in component amounts required or permitted by GAAP
(including in the inventory, property and equipment, software, goodwill, intangible assets, in-process research and development, deferred revenue and debt line items thereof) and related authoritative pronouncements (including the effects of such
adjustments pushed down to the Borrower and the Restricted Subsidiaries), as a result of the Transactions, any acquisition consummated prior to the Closing Date, any Permitted Acquisitions or other Investments, or the amortization or write-off of
any amounts thereof.	 	
				
		 	(b)	 	plus, without duplication, the following amounts (in each case, to the extent deducted (and not added back) in arriving at such Consolidated Net Income for such
period) for such period with respect to Holdings, its Restricted Subsidiaries and the Securitization Subsidiaries that are consolidated entities of Holdings in accordance with GAAP (which shall be determined with respect to any period ending on or
prior to the Closing Date in accordance with Section 1.05(b) of the Credit Agreement:	 	
					
		 		 	(i)	 	total interest expense determined in accordance with GAAP and, to the extent not reflected in such total interest expense, any losses on hedging obligations or other
derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such hedging obligations, and costs of surety bonds in connection with financing activities (whether amortized or immediately
expensed),	 	                     
					
		 		 	(ii)	 	provision for taxes based on income, profits or capital gains of Holdings and the Restricted Subsidiaries, including, without limitation, federal, state, franchise and
similar taxes and foreign withholding taxes paid or accrued during such period including penalties and interest related to such taxes or arising from any tax examinations,	 	                
    

  
 -5-

											
					
		 		 	(iii)	 	depreciation and amortization,	 	                     
					
		 		 	(iv)	 	duplicative running costs, severance, relocation costs or expenses, Transaction Expenses, integration costs, transition costs, pre-opening, opening, consolidation and
closing costs for facilities, costs incurred in connection with any non-recurring strategic initiatives, costs incurred in connection with acquisitions and non-recurring product and intellectual property development after the Closing Date, other
business optimization expenses (including costs and expenses relating to business optimization programs and new systems design and implementation costs), project start-up costs and restructuring charges or reserves (including restructuring costs
related to acquisitions after the Closing Date and to closure/consolidation of facilities, retention charges, systems establishment costs and excess pension charges) in an aggregate amount of all items deducted pursuant to this clause (iv) not to
exceed (A) $10,000,000 with respect to the Transaction Expense incurred, accrued or paid after the end of the first full fiscal quarter after the Closing Date and (B) with respect to costs, expenses, charges and reserves (other than Transaction
Expenses) (x) $12.5 million for the period from July 1, 2010 to December 31, 2010 and (y) otherwise, $25 million in any other fiscal year; provided that (I) the unused amounts in any fiscal year (without giving effect to any amount carried
over from a prior fiscal year) under this clause (y) may be carried over to the next succeeding fiscal year (but not any other fiscal year) and (II) amounts deducted in any fiscal year shall first be deemed to be allocated against the scheduled
amount for such fiscal year before giving effect to any carried over amount,	 	                     
					
		 		 	(v)	 	the amount of any minority interest expense consisting of Restricted Subsidiary income attributable to minority interests of third parties in any non-wholly owned
Restricted Subsidiary,	 	                     
					
		 		 	(vi)	 	the amount of management, monitoring, consulting, transaction and advisory fees and related expenses paid or accrued to the Investors or their Affiliates (or management
companies) under the Investor Management Agreement,	 	                     
					
		 		 	(vii)	 	any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or	 	                
    

  
 -6-

											
		 		 		 	agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash proceeds contributed to the capital of
Holdings or net cash proceeds of an issuance of Equity Interests of Holdings (other than Disqualified Equity Interests),	 	
					
		 		 	(viii)	 	cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing Consolidated EBITDA or Consolidated Net Income in any period to the
extent non-cash gains relating to such income were deducted in the calculation of Consolidated EBITDA pursuant to paragraph (c) below for any previous period and not added back,	 	
					
		 		 	(ix)	 	non-cash expenses, charges and losses (including impairment charges or asset write-offs, losses from investments recorded using the equity method, stock-based awards
compensation expense), in each case other than (A) any non-cash charge representing amortization of a prepaid cash item that was paid and not expensed in a prior period and (B) any non-cash charge relating to write-offs, write-downs or reserves with
respect to accounts receivable in the normal course or inventory; provided that if any non-cash charges referred to in this clause (ix) represent an accrual or reserve for potential cash items in any future period, the cash payment in respect
thereof in such future period shall be subtracted from Consolidated EBITDA in such future period to such extent paid,	 	                     
					
		 		 	(x)	 	any net loss from discontinued operations,	 	
					
		 		 	(xi)	 	the amount of cost savings, operating expense reductions, other operating improvements and synergies projected by Holdings in good faith to be realized in connection
with the Transactions or any Specified Transaction (calculated on a Pro Forma Basis as though such cost savings, operating expense reductions, other operating improvements and synergies had been realized on the first day of such period and as if
such cost savings, operating expense reductions, other operating improvements and synergies were realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions; provided that
(A) a duly completed certificate signed by a Responsible Officer of the Borrower shall be delivered	 	

  
 -7-

											
		 		 		 	to the Administrative Agent together with the Compliance Certificate required to be delivered pursuant to Section 6.02(a), certifying that (x) such cost savings,
operating expense reductions, other operating improvements and synergies are reasonably anticipated to be realized and factually supportable in the good faith judgment of the Borrower, and (y) such actions are to be taken within (I) in the case of
any such cost savings, operating expense reductions, other operating improvements and synergies in connection with the Transactions, 18 months after the Closing Date and (II) in all other cases, within 18 months after the consummation of the
acquisition, Disposition, restructuring or the implementation of an initiative, which is expected to result in such cost savings, expense reductions, other operating improvements or synergies, (B) no cost savings, operating expense reductions and
synergies shall be added pursuant to this clause (xi) to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for such period, (C) to the extent
that any cost savings, operating expense reductions, other operating improvements and synergies are not associated with the Transactions or a Specified Transaction following the Closing Date, all steps shall have been taken for realizing such
savings, (D) projected amounts (and not yet realized) may no longer be added in calculating Consolidated EBITDA pursuant to this clause (xi) to the extent occurring more than four full fiscal quarters after the specified action taken in order
to realize such projected cost savings, operating expense reductions, other operating improvements and synergies and (E) any increase in Consolidated EBITDA as a result of cost savings, operating expense reductions, other operating improvements and
synergies pursuant to this clause (xi) shall be subject to the limitations set forth in Section 1.10(c),	 	
					
		 		 	(xii)	 	proceeds of business interruption insurance,	 	
				
		 	(c)	 	minus, without duplication and to the extent included in arriving at such Consolidated Net Income, the sum of the following:	 	
					
		 		 	(i)	 	non-cash gains (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA
in any prior period),	 	                
    

  
 -8-

											
					
		 		 	(ii)	 	any net gain from discontinued operations,	 	                     
					
		 		 	(iii)	 	the amount of any minority interest income consisting of Restricted Subsidiary losses attributable to minority interests of third parties in any non-wholly owned
Restricted Subsidiary; provided that, for the avoidance of doubt, any gain representing the reversal of any non-cash charge referred to in clause (a)(ix)(B) above for a prior period shall be added (together with, without duplication, any
amounts received in respect thereof to the extent not increasing Consolidated Net Income) to Consolidated EBITDA in any subsequent period to such extent so reversed (or received),	 	                     
		
	provided that:	 	
			
		 	(A) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA currency translation gains and losses related to
currency remeasurements of Indebtedness (including the net loss or gain (i) resulting from Swap Contracts for currency exchange risk and (ii) resulting from intercompany indebtedness),	 	
			
		 	(B) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period any adjustments resulting from the
application of Statement of Financial Accounting Standards No. 133 and International Accounting Standard No. 39 and their respective related pronouncements and interpretations,	 	
			
		 	(C) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period any income (loss) for such period
attributable to the early extinguishment of (i) Indebtedness, (ii) obligations under any Swap Contracts or (iii) other derivative instruments,	 	
		
	 Notwithstanding anything to the contrary contained herein, for purposes of determining Consolidated EBITDA under this Agreement (i) for
any period that includes any of the fiscal quarters ended June 30, 2009, September 30, 2009, December 31, 2009 and March 31, 2010, Consolidated EBITDA for such fiscal quarters shall be $71,626,551, $64,069,498, $62,017,229 and $83,659,434,
respectively; provided, however, that Consolidated EBITDA for any of the foregoing periods shall be increased by the amount attributable to Returns during such period, if any, made to the Acquired Business with respect to the Target JV
Interests which are acquired by Holdings or any Restricted Subsidiary on or after the Closing Date and (ii) calculations of Consolidated EBITDA for the fiscal quarter ending June 30, 2010 shall be made as provided in Schedule 1.01(o) of the
Acquisition Agreement subject to, without duplication, the add backs provided for above in this definition.
	 	

  
 -9-

											
			
		 	Consolidated EBITDA	 	                     
			
		 	Consolidated Total Net Debt to Consolidated EBITDA	 	[    ]:1.00
			
		 	Covenant Requirement	 	No more than [    ]:1.00

  
 -10-

							
	(B)	  	Interest Coverage Ratio: Consolidated EBITDA to Consolidated Interest Expense 
			
	(1)	  	Consolidated EBITDA	 	
			
	(2)	  	Consolidated Interest Expense:	 	
			
		  	the sum, without duplication, of:	 	                     
				
		  	(i)	  	the cash interest expense (including that attributable to Capitalized Leases), net of cash interest income, of Holdings, its Restricted Subsidiaries and the Securitization
Subsidiaries that are consolidated entities of Holdings, determined on a consolidated basis in accordance with GAAP, with respect to all outstanding Indebtedness of Holdings, its Restricted Subsidiaries and the Securitization Subsidiaries that are
consolidated entities of Holdings in accordance with GAAP, including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net cash costs under Swap
Contracts,	 	                     
				
		  	(ii)	  	any cash payments made during such period in respect of obligations referred to in clause (b) below relating to Funded Debt that were amortized or accrued in a previous
period,	 	                     
	
	but excluding,
				
		  		  	(a) amortization of deferred financing costs and any other amounts of non-cash interest, (b) the accretion or accrual of discounted liabilities during such period, (c) non-cash
interest expense attributable to the movement of the mark-to-market valuation of obligations under Swap Contracts or other derivative instruments pursuant to Statement of Financial Accounting Standards No. 133, (d) any cash costs associated with
breakage in respect of hedging agreements for interest rates, (e) fees and expenses associated with the consummation of the Transaction, (f) annual agency fees paid to the Administrative Agent and/or Collateral Agent, (g) costs associated with
obtaining Swap Contracts and (h) all non-recurring cash interest expense consisting of liquidated damages for failure to timely comply with registration rights obligations and financing fees, all as calculated on a consolidated basis in accordance
with GAAP,	 	                     
		
	Notwithstanding anything to the contrary contained herein, for purposes of determining Consolidated Interest Expense (i) for any period ending prior to the first
anniversary of the Closing Date, Consolidated Interest Expense shall be an amount equal to actual Consolidated Interest Expense from the Closing Date through the date of determination multiplied by a fraction the numerator of which is 365 and the
denominator of which is the number of days from the Closing Date through the date of determination and (ii) shall exclude the purchase accounting effects described in the last sentence of the definition of “Consolidated Net
Income”.	 	

							
		  	Consolidated EBITDA to Consolidated Interest Expense	  	[    ]:1.00
			
		  	Covenant Requirement	  	No less than [    ]:1.00

  
 -2-

									
	(C)	  	Senior Secured Leverage Ratio: Consolidated Total Senior Secured Indebtedness to Consolidated EBITDA	 	
			
	(1)	  	Consolidated Total Senior Secured Indebtedness as of [            ],
20[    ]:	 	
				
		  	(a)	  	At any date of determination, the aggregate principal amount of Indebtedness of Holdings and its Restricted Subsidiaries that are consolidated entities of Holdings in
accordance with GAAP outstanding on such date, in an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting
from the application of purchase accounting in connection with the Transactions or any Permitted Acquisition) consisting of the sum of the following:	 	
					
		  		  	(i)	  	Indebtedness for borrowed money	 	                     
					
		  		  	(ii)	  	Attributable Indebtedness	 	                 
    

					
		  		  	(iii)	  	debt obligations evidenced by promissory notes or similar instruments	 	                 
    

			
		  	but excluding,	 	
				
		  	(a)	  	any portion thereof that is unsecured or that is secured by a Lien on any assets of Holdings or any of its Restricted Subsidiaries that is expressly subordinated to
the Liens granted under the Collateral Documents to the Collateral Agent for the benefit of the Secured Parties in all respects,	 	                 
    

				
		  	(b)	  	Indebtedness of the Securitization Subsidiaries,	 	                 
    

		
	Consolidated Total Senior Secured Indebtedness shall not include Indebtedness in respect of letters of credit, except to the extent of unreimbursed amounts
thereunder; provided that any unreimbursed amount under commercial letters of credit shall not be included as Consolidated Total Senior Secured Indebtedness until three (3) Business Days after such amount is drawn, (ii) obligations under Swap
Contracts entered into for non-speculative purposes shall not constitute Consolidated Total Senior Secured Indebtedness and (iii) the aggregate principal amount of the Revolving Credit Facility during any relevant period shall be calculated based on
the daily average outstanding amount of the Revolving Credit Loans and the Swing Line Loans during such period.	 	
			
		  	Consolidated Total Senior Secured Indebtedness	 	                 
    

			
	(2)	  	Consolidated EBITDA	 	                 
    

									
		  	but excluding,	  	
				
		  		  	the amount of any Specified Equity Contribution,	  	                     
			
		  	Consolidated Total Senior Secured Indebtedness to Consolidated EBITDA	  	[    ]:1.00
			
		  	Required Senior Secured Leverage Ratio for pricing level 1	  	 No greater than 3.25:1.00

  
 -2-

 [SCHEDULE 2 
 Excess Cash Flow Calculation: 
  

							
	(a)	  	the sum, without duplication of:	 	
				
		  	(i)	  	Consolidated Net Income for such period,	 	                     
				
		  	(ii)	  	an amount equal to the amount of all non-cash charges to the extent deducted in arriving at such Consolidated Net Income,	 	                     
				
		  	(iii)	  	decreases in Consolidated Working Capital and long-term account receivables for such period (other than any such decreases arising from acquisitions or dispositions by Holdings and
its Restricted Subsidiaries completed during such period),	 	                     
				
		  	(iv)	  	an amount equal to the aggregate net non-cash loss on Dispositions by Holdings and its Restricted Subsidiaries during such period (other than sales in the ordinary course of
business) to the extent deducted in arriving at such Consolidated Net Income,	 	                     
			
	(b)	  	minus, the sum, without duplication of:	 	
				
		  	(i)	  	all non-cash credits included in arriving at such Consolidated Net Income and cash charges included in the following components of the definition of Consolidated Net
Income:	 	
				
		  		  	(i) any after-tax effect of extraordinary items (including gains or losses and all fees and expenses relating thereto) for such period, (ii) the cumulative effect of a change in
accounting principles during such period to the extent included in Consolidated Net Income, (iii) any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any acquisition, investment, asset
disposition, issuance or repayment of debt, issuance of equity securities, refinancing transaction or amendment or other modification of any debt instrument and any charges or non-recurring merger costs incurred during such period as a result of any
such transaction, in each case for any such fee, expense or cost whether or not successful (including, for the avoidance of doubt the effects of expensing all transaction related expenses in accordance with Financial Accounting Standards No. 141(R)
and gains or losses associated with FASB Interpretation No. 45), (iv) accruals and reserves that are established or adjusted within twelve months after the Closing Date that are so required to be established as a result of the Transactions in
accordance with GAAP or changes as a result of adoption or modification of accounting policies in accordance with GAAP, (v) any net after-tax gains or losses from abandoned, disposed of or discontinued operations, (vi) any net after-tax effect of
gains or losses (less all	 	

							
		  		  	fees, expenses and charges) attributable to asset dispositions or the sale or other disposition of any Equity Interests of any Person in each case other than in the ordinary course
of business, as determined in good faith by Holdings, (vii) the net income (loss) for such period of any Person that is not a Subsidiary of Holdings, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting;
provided that Consolidated Net Income of Holdings shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash Equivalents (or to the extent subsequently converted into cash or Cash
Equivalents) to Holdings or a Restricted Subsidiary thereof in respect of such period, (viii) any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets,
long-lived assets, investments in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP, (ix) any non-cash compensation charge or
expense, including any such charge or expense arising from the grants of stock appreciation or similar rights, stock options, restricted stock or other rights or equity incentive programs, and any cash charges associated with the rollover,
acceleration or payout of Equity Interests by management of Holdings or the Seller or any of its direct or indirect Restricted Subsidiaries in connection with the Transactions, (x) any expenses, charges or losses that are covered by indemnification
or other reimbursement provisions in connection with any Investment, Permitted Acquisition or any sale, conveyance, transfer or other disposition of assets permitted under the Credit Agreement, to the extent that such amount is in fact indemnified
or reimbursed within 365 days of such determination (with a deduction in the applicable future period of any amount so added back to the extent not so indemnified or reimbursed within such 365 days), (xi) to the extent covered by insurance and
actually reimbursed or with respect to which the Borrower has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer, but only to the extent that such amount is in fact reimbursed within
365 days of the date of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events
or business interruption, (xii) any net pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts arising in prior periods, amortization of
the unrecognized net obligation (and loss or cost) existing at the date of initial application of Statement on Financial Accounting Standards Nos. 87, 106 and 112, and any other items of a similar nature and (xiii) the income (or loss) of any Person
accrued prior to the date it becomes a Restricted Subsidiary of Borrower, or is merged into, amalgamated or consolidated with Borrower or any of its Restricted Subsidiaries or that Person’s assets are acquired by	 	

  
 4 

							
		  		  	Borrower or any of its Restricted Subsidiaries (except to the extent required for any calculation of Consolidated EBITDA on a Pro Forma Basis in accordance with Section
1.10),	 	                     
				
		  	(ii)	  	without duplication of amounts deducted pursuant to clause (xi) below in prior fiscal years, the amount of Capital Expenditures, acquisitions and other Investments of intellectual
property to the extent not expensed or accrued during such period, to the extent that such Capital Expenditures or acquisitions were financed with internally generated cash,	 	                     
				
		  	(iii)	  	the aggregate amount of all principal payments of Indebtedness of Holdings or its Restricted Subsidiaries (including (A) the principal component of payments in respect of
Capitalized Leases and (B) the amount of any scheduled repayment of Term Loans pursuant to Section 2.07, any mandatory prepayment pursuant to Section 2.05(b)(ii), to the extent required due to a Disposition that resulted in an increase to
Consolidated Net Income and not in excess of the amount of such increase but excluding (X) all voluntary prepayments of Term Loans and (Y) all prepayments of Revolving Credit Loans and Swing Line Loans) made during such period, to the extent
financed with internally generated cash,	 	                     
				
		  	(iv)	  	the aggregate net non-cash gain on Dispositions by Holdings and its Restricted Subsidiaries during such period (other than Dispositions in the ordinary course of business) to the
extent included in arriving at such Consolidated Net Income,	 	                     
				
		  	(v)	  	increases in Consolidated Working Capital and long-term account receivables for such period (other than any such increases arising from acquisitions or dispositions by Holdings and
its Restricted Subsidiaries during such period),	 	                     
				
		  	(vi)	  	cash payments by Holdings and its Restricted Subsidiaries during such period in respect of long-term liabilities of Holdings and its Restricted Subsidiaries other than
Indebtedness,	 	                     
				
		  	(vii)	  	the amount of Investments and acquisitions made during such period pursuant to Section 7.02 (other than Section 7.02(a) or (c)) to the extent that such Investments and acquisitions
were financed with internally generated cash,	 	                     
				
		  	(viii)	  	the amount of Restricted Payments paid during such period pursuant to Section 7.06(d), to the extent such Restricted Payments were financed with internally generated
cash,	 	                     
				
		  	(ix)	  	the aggregate amount of expenditures actually made by Holdings and its Restricted Subsidiaries in cash during such period (including expenditures for the payment of financing fees)
to the extent that such expenditures are not expensed during such period,	 	                
    

  
 5 

							
				
		  	(x)	  	the aggregate amount of any premium, make-whole or penalty payments actually paid in cash by Holdings and its Restricted Subsidiaries during such period that are required to be made
in connection with any prepayment of Indebtedness,	 	                     
				
		  	(xi)	  	without duplication of amounts deducted from Excess Cash Flow pursuant to clause (b)(ii) above, the aggregate consideration required to be paid in cash by Holdings and its
Restricted Subsidiaries pursuant to binding contracts or executed letters of intent (the “Contract Consideration”) entered into prior to or during such period relating to Capital Expenditures, acquisitions or other Investments of
intellectual property to the extent not expensed to be consummated or made, in each case during the period of four consecutive fiscal quarters of Holdings following the end of such period, provided that to the extent the aggregate amount of
internally generated cash not utilizing the Cumulative Retained Excess Cash Flow Amount actually utilized to finance such Capital Expenditure, acquisition or other Investment during such period of four consecutive fiscal quarters is less than the
Contract Consideration, the amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end of such period of four consecutive fiscal quarters,	 	
				
		  	(xii)	  	cash taxes (including penalties and interest) or the tax reserves set aside in a prior period to the extent they exceed the amount of tax expense deducted in determining
Consolidated Net Income for such period,	 	                     
				
		  	(xiii)	  	cash expenditures in respect of Swap Contracts during such fiscal year to the extent not deducted in arriving at such Consolidated Net Income,	 	                     
				
		  	(xiv)	  	any payment of cash to be amortized or expensed over a future period and recorded as a long-term asset,	 	                     
				
		  	(xv)	  	restructuring expenses, pension payments or tax contingency payments, in each case made in cash during such period to the extent such payments exceed the amount of restructuring
expenses, pension payments or tax contingency payments, as the case may be, that were deducted in determining Consolidated Net Income for such period,	 	
				
		  	(xvi)	  	reimbursable or insured expenses incurred during such fiscal year to the extent that reimbursement has not yet been received,	 	
				
		  	(xvii)	  	cash expenditures for costs and expenses in connection with acquisitions or Investments, dispositions and the issuance of equity interests or Indebtedness to the extent not deducted
in arriving at such Consolidated Net Income,	 	

  
 6 

			
	Notwithstanding anything in the definition of any term used in the definition of Excess Cash Flow to the contrary, all components of Excess Cash Flow shall be computed for Holdings and its Restricted Subsidiaries on a consolidated
basis.	  	
		
	Excess Cash Flow	  	                    ]

  
 7 

 IN WITNESS WHEREOF, the undersigned, solely in his/her capacity as a Responsible Officer of
Holdings, has executed this certificate for and on behalf of Holdings and has caused this certificate to be delivered this      day of             ,
20[    ]. 
  

			
	TRINSEO MATERIALS OPERATING S.A R.L.
		
	By:	 	  

		 	Name:
		 	Title:

  
 8 

 ANNEX A 

Second Amendment to Credit Agreement 

[see attached] 

 SECOND AMENDMENT TO CREDIT AGREEMENT 

SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of July 28, 2011 (this “Second Amendment”), among TRINSEO MATERIALS
OPERATING S.A R.L. (formerly known as STYRON S.A R.L. and to be converted to TRINSEO MATERIALS OPERATING S.C.A. on or around the date hereof), a limited liability company (société à responsabilité limitée)
organized under the laws of Luxembourg (the “Borrower”), the Guarantors, DEUTSCHE BANK AG NEW YORK BRANCH (“DBNY”), as administrative agent (in such capacity, the “Administrative Agent”), and each
other Lender (as defined below) party hereto. 
 W I T N E S S E T H: 

WHEREAS, the Borrower, the Administrative Agent, the Guarantors party thereto from time to time and each lender from time to time party
thereto (the “Lenders”) have entered into a Credit Agreement, dated as of June 17, 2010, as amended by that certain First Amendment dated as of February 2, 2011, (the “Credit Agreement”) (capitalized terms
not otherwise defined in this Second Amendment have the same meanings as specified in the Credit Agreement); 
 WHEREAS, the Borrower
desires to amend the Credit Agreement to provide for the addition of parent guarantors and to make certain other amendments to facilitate a reorganization of certain Loan Parties, all as set forth herein; 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the sufficiency and receipt of all of which is
hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Amendments to Credit Agreement. Subject to the
satisfaction of the conditions set forth in Section 2 hereof, the Loan Parties and the Lenders hereby agree to amend the Credit Agreement as follows: 

(a) Amendments to Section 1.01 (Defined Terms). 

(i) Section 1.01 of the Credit Agreement is hereby amended by adding in the appropriate alphabetical order the
following new definitions: 
 “Intermediate Holding Company” means Luxco 3.5 and any wholly-owned Subsidiary
of Holdings that (i) does not own assets other than issued and outstanding Equity Interests of the Borrower or a parent of the Borrower and (ii) is a Guarantor. 

“Irish Transaction Security” means the security and Liens created or expressed to be created under any
Collateral Documents governed by Irish law. 
 “Luxco 3.5” means Trinseo Materials S.à r.l., a
Luxembourg limited liability company (société à responsabilité limitée), and any successor thereto permitted under Section 7.04 

“Parent Guarantor” means Trinseo S.A. and Styron Luxco S.à r.l., respectively. 

 “Second Amendment” means the Second Amendment to this Agreement,
dated as of July 28, 2011, among the Borrower, the other Loan Parties, Deutsche Bank AG New York Branch, as the Administrative Agent, and the other Lenders party thereto. 

“Second Amendment Effective Date” means the first date on which all the conditions precedent in
Section 2 of the Second Amendment are satisfied or waived in accordance with Section 2 of the Second Amendment. 

“Trust Property” has the meaning set forth in Section 9.01(n). 

(ii) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “Change of
Control” in its entirety as follows: 
 “Change of Control” shall be deemed to occur if: 

(a) at any time prior to a Qualified IPO, any combination of Permitted Holders shall fail to own beneficially (within the
meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate Equity Interests representing at least a majority of the aggregate ordinary voting power represented by the issued and outstanding
Equity Interests of Holdings; 
 (b) at any time after a Qualified IPO, (i) any person or “group” (within the
meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Closing Date), other than any combination of the Investors or any “group” including any Permitted Holders, shall have acquired, directly or indirectly, beneficial
ownership of 35% or more on a fully diluted basis of the voting interest in Holdings’ capital stock and the Permitted Holders shall own, directly or indirectly, less than such person or “group” on a fully diluted basis of the voting
interest in Holdings’ capital stock or (ii) Continuing Directors shall at any time cease to constitute of a majority of the board of directors of Holdings; 

(c) a “change of control” (or similar event) shall occur under the Junior Financing Documentation, Permitted
Refinancing Notes Documents, any Indebtedness for borrowed money permitted under Section 7.03 with an aggregate principal amount in excess of the Threshold Amount or any Permitted Refinancing Indebtedness in respect of any of the
foregoing with an aggregate principal amount in excess of the Threshold Amount; or 
 (d) Holdings or one or more
Intermediate Holding Companies ceases to own, in the aggregate, 100% of the Equity Interests of the Borrower. 
 (iii)
Section 1.01 of the Credit Agreement is hereby further amended by amending and restating the definition of “Guarantors” in its entirety as follows: 

“Guarantors” means each Closing Date Guarantor, those Subsidiaries of Holdings that have issued a Guarantee
after the Closing Date pursuant to Section 6.14, those Subsidiaries that have issued a Guarantee of the Obligations after the Closing Date pursuant to Section 6.11 and the Parent Guarantors.”. 

  
 2 

 (iv) Section 1.01 of the Credit Agreement is hereby further amended
by restating the definition of “Holdings” in its entirety as follows: 
 “Holdings” means Styron
Holding S.à r.l., a Luxembourg limited liability company (société à responsabilité limitée), and any successor thereto permitted under Section 7.04. 

(v) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “Qualified
IPO” in its entirety as follows: 
 “Qualified IPO” means the issuance by Holdings or any Parent
Guarantor of its common Equity Interests in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to a registration statement that has been declared effective by the SEC or
approved by any other applicable Governmental Authority in Luxembourg or the United Kingdom.”. 
 (b) Amendment to Section 6.14
(Further Assurance and Post-Closing Conditions). Section 6.14(a) of the Credit Agreement is hereby restated in its entirety as follows: 

“(a) (i) No later than the date specified for such requirement set forth in Schedule 6.14 (subject to extension by the
Administrative Agent in its reasonable discretion), each of the Loan Parties and each Restricted Subsidiary that is not an Excluded Subsidiary shall deliver each Collateral Document set forth therein and, if applicable, a Guarantor Joinder, each
duly executed by each such Person, together with all documents and instruments required to perfect the security interest of the Administrative Agent in the Collateral (if any) free of any other pledges, security interests or mortgages, except Liens
permitted hereunder and, if applicable, to issue the Guaranty, to the extent required pursuant to the Collateral and Guarantee Requirement (including payment of all taxes and duties), (ii) no later than the date specified for such requirement
set forth in Schedule 6.14(a)(ii) (subject to extension by the Administrative Agent in its reasonable discretion), each of the Loan Parties, as applicable, shall deliver the Collateral Documents or other documents, instruments or agreements set
forth therein and (iii) no later than the date specified for such requirement set forth in Schedule 6.14(a)(iii) (subject to extension by the Administrative Agent in its reasonable discretion), each of the Loan Parties, as applicable, shall
deliver the Collateral Documents or other documents, instruments or agreements set forth therein.”. 
 (c) Amendments to
Section 6.19 (Maintenance of Company Separateness). Section 6.19 of the Credit Agreement is hereby restated in its entirety as follows: 

“Section 6.19 Maintenance of Company Separateness. Each of the Parent Guarantors will, and Holdings will, and will cause each of
its Subsidiaries to, satisfy customary company formalities, including, as applicable, (i) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, (ii) the
maintenance of separate company offices and records 

  
 3 

 
and (iii) the maintenance of separate bank accounts in its own name. None of the Parent Guarantors nor Holdings or any of its Subsidiaries shall take any action, or conduct its affairs in a
manner, which is likely to result in the company existence of any Parent Guarantor or Holdings or any of its Subsidiaries being ignored, or in the assets and liabilities of any Parent Guarantor or Holdings or any of its Subsidiaries being
substantively consolidated with those of any other such Person in a bankruptcy, reorganization or other insolvency proceeding.”. 
 (d)
Amendments to Section 7.02 (Investments). Section 7.02(c) of the Credit Agreement is hereby restated as follows: 

“(c) Investments (i) by Holdings in the Borrower, Styron Investment Holdings Ireland, Styron Materials Ireland and any Intermediate
Holding Company, (ii) by the Borrower or any Restricted Subsidiary in any Loan Party (other than a Parent Guarantor) and (iii) by any Restricted Subsidiary that is not a Loan Party in any other Restricted Subsidiary that is not a Loan
Party;”. 
 (e) Amendments to Section 7.14 (Permitted Activities). Section 7.14 of the Credit Agreement is
hereby restated in its entirety as follows: 
 “With respect to each Parent Guarantor and Holdings, engage in any material operating or
business activity; provided, that the following shall be permitted in any event: (i) (x) in the case of Trinseo S.A., its ownership of the Equity Interests of Styron Luxco S.à r.l., (y) in the case of Styron Luxco
S.à r.l., its ownership of the Equity Interests of Holdings and (z) in the case of Holdings, its ownership of the Equity Interests of the Borrower, Styron Investment Holdings Ireland, Styron Materials Ireland and any Intermediate Holding
Company, (ii) the maintenance of its respective legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (iii) the performance of its respective obligations with respect to the Loan Documents
and any other Indebtedness, (iv) any public offering of its Equity Interests or any other issuance or sale of its Equity Interests, (v) financing activities, including the issuance of securities, incurrence of debt, payment of dividends,
and (x) in the case of Trinseo S.A., making contributions to the capital of Styron Luxco S.à r.l. and guaranteeing the obligations of the Borrower and its Restricted Subsidiaries, (y) in the case of Styron Luxco S.à r.l.,
making contributions to the capital of Holdings and guaranteeing the obligations of the Borrower and its Restricted Subsidiaries, and (z) in the case of Holdings, making contributions to the capital of Styron Investment Holdings Ireland, any
Intermediate Holding Company and the Borrower and guaranteeing the obligations of the Borrower and its Restricted Subsidiaries and providing a performance guaranty in connection with a Permitted Securitization, (vi) participating in tax,
accounting and other administrative matters as a member of the consolidated group of the Parent Guarantors, Holdings and the Borrower, (vii) holding any cash or property (but not operate any property), (viii) providing indemnification to
officers and directors and (ix) any activities incidental to the foregoing. Notwithstanding anything herein to the 

  
 4 

 
contrary, neither any Parent Guarantor nor Holdings shall incur any consensual Liens on Equity Interests of its direct Subsidiary other than those for the benefit of the Obligations and neither
any Parent Guarantor nor Holdings shall own any Equity Interests other than those of its direct Subsidiary (unless such Equity Interests are promptly contributed to the Borrower).”. 

(f) Amendment to Section 7.16 (Limitation on Creation of Subsidiaries). Section 7.16(a) of the Credit Agreement is
hereby restated in its entirety as follows: 
 “(a) Holdings will not, and will not permit any of its Restricted Subsidiaries to,
establish, create or acquire after the Closing Date any Subsidiary, provided that (x) Holdings shall be permitted to establish and create Styron Investment Holdings Ireland, Styron Materials Ireland and each Intermediate Holding Company
and (y) the Borrower and each Restricted Subsidiary that is a Loan Party shall be permitted to establish, create and, to the extent permitted by this Agreement, acquire Restricted Subsidiaries, so long as, in each case, (i) at least five
(5) days’ prior written notice thereof is given to the Administrative Agent (or such shorter period of time as is acceptable to the Administrative Agent in any given case), (ii) the capital stock or other Equity Interests of such new
Subsidiary are promptly pledged pursuant to, and to the extent required by, Section 6.11 of this Agreement and the relevant Collateral Documents and the certificates, if any, representing such stock or other Equity Interests, together
with stock or other appropriate powers duly executed in blank, are delivered to the Collateral Agent, (iii) each such new wholly-owned Restricted Subsidiary executes a Guarantor Joinder to this Agreement and joinders to the applicable
Collateral Documents, and (iv) each such new wholly-owned Subsidiary, to the extent requested by the Administrative Agent or the Required Lenders, takes all actions required pursuant to Section 6.11. In addition, each new Subsidiary
that is required to execute any Loan Document shall execute and deliver, or cause to be executed and delivered, all other relevant documentation (including opinions of counsel) of the type described in Section 4.01 as such new Subsidiary
would have had to deliver if such new Subsidiary were a Loan Party on the Closing Date.” 
 (g) Amendment to Schedules. The
Credit Agreement is hereby further amended by adding a new Schedule 6.14(a)(iii) thereto in the form of Exhibit A hereto. 

  
 5 

 SECTION 2. Conditions of Effectiveness of the Second Amendment. The Second Amendment shall
become effective on the date when the Administrative Agent shall have received (i) the duly executed signature page from the Required Lenders and the Borrower, and (ii) a duly executed Guarantor Joinder from each of Trinseo S.A., Styron
Luxco S.à r.l., and Styron Investment Holdings Ireland. 
 SECTION 3. Representations and Warranties. The Borrower and each of
the other Loan Parties represent and warrant as follows as of the date hereof and as of the Second Amendment Effective Date: 
 (a) The
execution, delivery and performance by each Loan Party of this Second Amendment are within such Loan Party’s corporate or other powers and have been duly authorized by all necessary corporate or other organizational action. Neither the
execution, delivery and performance by each Loan Party of this Second Amendment will (a) contravene the terms of such Person’s Organization Documents, (b) conflict with or result in any breach or contravention of, or the creation of
any Lien upon any of the property or assets of the Borrower or any of the Restricted Subsidiaries (other than as permitted by Section 7.01 of the Credit Agreement), or require any payment under (i) any Contractual Obligation to
which such Person is a party or affecting such Person or the properties of such Person or any of its Restricted Subsidiaries or (ii) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which
such Person or its property is subject; or (c) violate any applicable material Law, except to the extent that any such breach, contravention or payment (but not the creation of any Lien) referred to in clause (b)(i) could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) This Second Amendment has been duly executed and
delivered by each Loan Party that is a party to the Loan Documents and constitutes a legal, valid and binding obligation of each Loan Party that is a party hereto or thereto, enforceable against such Loan Party in accordance with its terms, except
as such enforceability may be limited by Debtor Relief Laws and by general principles of equity. 
 (c) Upon the effectiveness of this
Second Amendment, and both before and immediately after giving effect to this Second Amendment, no Default or Event of Default exists. 

(d) Each of the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement and
each other Loan Document immediately before and after giving effect to this Second Amendment is true and correct in all material respects on and as of the date hereof; provided that, to the extent that such representations and warranties
specifically refer to an earlier date, they are true and correct in all material respects as of such earlier date. 
 SECTION 4.
Reference to and Effect on the Credit Agreement and the Loan Documents. 
 (a) On and after the Second Amendment Effective each
reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Second
Amendment. 
 (b) The Credit Agreement and each of the other Loan Documents, as specifically amended by this Second Amendment, are and shall
continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the
payment of all Obligations of the Loan Parties under the Loan Documents, in each case, as amended by this Second Amendment. 

  
 6 

 (c) The execution, delivery and effectiveness of any part of this Second Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. On and after the
effectiveness of this Second Amendment, this Second Amendment shall for all purposes constitute a Loan Document. 
 SECTION 5. Execution
in Counterparts. This Second Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by facsimile or electronic
transmission of an executed counterpart of a signature page to this Second Amendment shall be effective as delivery of an original executed counterpart of this Second Amendment. 

SECTION 6. Governing Law. This Second Amendment shall be governed by, and construed in accordance with, the law of the State of New
York (without regard to conflict of laws principles other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

[The remainder of this page is intentionally left blank] 

  
 7 

 Exhibit A to 

Second Amendment to Credit Agreement 

Schedule 6.14(a)(iii) 

Second Amendment Post-Closing Requirements 

All deadlines specified below shall be capable of being extended by the Collateral Agent (acting in its sole discretion), provided that no deadline shall be
capable of being extended if strict compliance with such deadline is necessary in connection with any statutory or other legal requirement, any legal perfection period or compliance with any other obligation or requirement. 

Ireland 
 No later
than ten (10) Business Days following the Second Amendment Effective Date, the Collateral Agent shall have received: 
  

	 	1.	Security over shares deed by and among Styron Holding, S.à r.l., Trinseo S.A., Styron Netherlands B.V. and the Collateral Agent, relating to shares in Styron Materials Ireland; and 

 

	 	2.	Opinion of William Fry, Irish counsel to the Administrative Agent, with respect to the security over shares deed relating to shares in Styron Materials Ireland. 

Luxembourg 
  

	 	A.	As of the Second Amendment Effective Date, the Collateral Agent shall have received: 

  

	 	1.	Joinder Agreement between Trinseo S.A. and the Collateral Agent; and 

  

	 	2.	Joinder Agreement between Styron Luxco S.à r.l. and the Collateral Agent. 

  

	 	B.	No later than two (2) Business Days following the Second Amendment Effective Date, the Collateral Agent shall have received: 

  

	 	1.	Pledge of Bank Account between Trinseo S.A. and the Collateral Agent; 

  

	 	2.	Secretary Certificate of Trinseo S.A.; 

  

	 	3.	Pledge of Shares between Trinseo S.A. and the Collateral Agent, with respect to shares in Styron Luxco S.à r.l; 

  

	 	4.	Pledge of Bank Account between Styron Luxco S.à r.l. and the Collateral; 

  

	 	5.	Secretary Certificate of Styron Luxco S.à r.l.; 

  

	 	6.	Pledge of Shares between Styron Holdings S.à r.l. and the Collateral Agent, with respect to Trinseo Materials S.à r.l.; 

	 	7.	Pledge of Bank Account between Trinseo Materials S.à r.l. and the Collateral Agent; 

  

	 	8.	Any amendment, restatement or release agreement or any other documents or agreements deemed necessary by the Collateral Agent between Styron Holdings S.à r.l, the Borrower, Trinseo Materials S.à r.l., and
the Collateral Agent, as the case may be, in respect of the pledge created over the shares in the Borrower; 

  

	 	9.	Secretary Certificate of Trinseo Materials S.à r.l.; 

  

	 	10.	Opinion of NautaDutilh, Luxembourg counsel to the Administrative Agent, with respect to items 1 through 9 above; and 

  

	 	11.	Opinion of Loyens & Loeff, Luxembourg counsel to the Loan Parties, with respect to items 1 through 9 above. 

  

	 	C.	No later than ten (10) Business Days following the Second Amendment Effective Date, the Collateral Agent shall have received: 

  

	 	1.	Resolutions of Trinseo S.A. and Styron Holdings, S.à r.l. with respect to the Irish Security Over Shares; and 

  

	 	2.	Opinion of Loyens & Loeff, Luxembourg counsel to the Loan Parties, with respect to the Irish Security over Shares. 

  

	 	D.	Each Parent Guarantor shall from time to time duly execute and deliver to the Administrative Agent such other Collateral Documents together with all documents and instruments required to perfect the security interest of
the Administrative Agent in the Collateral free of any other pledges, security interests or mortgages, except Liens permitted in the Credit Agreement, as would be required as if any such Parent Guarantor were a Guarantor that is a Subsidiary of
Holdings. 

 Netherlands 
  

	 	A.	No later than ten (10) Business Days following the Second Amendment Effective Date, the Collateral Agent shall have received: 

  

	 	1.	Resolutions of Styron Netherlands B.V. with respect to the Irish Security Over Shares; and 

  

	 	2.	Opinion of NautaDutilh, Dutch counsel to the Administrative Agent, with respect to the Irish Security over Shares. 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	 TRINSEO MATERIALS OPERATING S.A

R.L.,
 as the Borrower

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann)
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg : B 153.586
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 STYRON LLC,
 as a
Guarantor

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 STYRON US HOLDING, INC.
 as a
Guarantor

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 Executed by STYRON AUSTRALIA PTY LTD ACN 141 196 330 in accordance with section 127 of the
Corporations Act 2001 (Cth): 
  

	
	  

	
	Signature of sole director
	
	  

	
	Full name of sole director

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON BELGIUM BVBA,
	as a Guarantor
		
	By:	 	  

		 	Name:	 	Frans Hordies
		 	Title:	 	Director/Attorney-in-fact
	
	 STYRON CANADA ULC,
 as a
Guarantor

		
	Per:	 	  

		 	Name:	 	Paul Moyer
		 	Title:	 	President and Secretary
	
	 STYRON FRANCE SAS,
 as a
Guarantor

	
	  

	By:	 	Christian Page
	
	 STYRON DEUTSCHLAND GMBH,
 as
a Guarantor

		
	By:	 	  

		 	Name:	 	Ralf Irmert
		 	Title:	 	Managing Director
	
	BAIN CAPITAL EVEREST HOLDING 2
	GMBH, as a Guarantor
		
	By:	 	  

		 	Name:	 	Michel Plantevin
		 	Title:	 	Managing Director
	
	 STYRON DEUTSCHLAND RUBBER GMBH,

as a Guarantor

		
	By:	 	  

		 	Name:	 	Michel Plantevin
		 	Title:	 	Managing Director

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON DEUTSCHLAND
	ANLAGENGESELLSCHAFT MBH,
	as a Guarantor
		
	By:	 	  

		 	Name:	 	Hans-Heinrich Neuhaus
		 	Title:	 	Managing Director

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 IN WITNESS WHEREOF, Styron (Hong Kong) Limited has caused this Second Amendment to be duly
executed and delivered as a deed, as of the date first above written. 
  

	
	STYRON (HONG KONG) LIMITED
	
	 SEALED with the COMMON SEAL
 of STYRON (HONG
KONG) LIMITED
 and SIGNED by
                    ,
 a director, in the presence
of:

	
	  

	
	[Signature of Director]
	
	Director
	
	  

	
	[Signature of Witness]
	
	Name of Witness:
	
	Address of Witness:
	
	Occupation of Witness:

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 IN WITNESS WHEREOF Styron Materials Ireland and Styron Investment Holdings Ireland have duly executed, and
delivered as a deed, this Second Amendment Agreement. 
  

	
	Given under the Common Seal of
	STYRON MATERIALS IRELAND
	
	  

	
	Director
	
	  

	
	Alternate Director

  

	
	Given under the Common Seal of
	STYRON INVESTMENT HOLDINGS IRELAND
	
	  

	
	Director
	
	  

	
	Alternate Director

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON ITALIA S.R.L.,
	as a Guarantor
		
	By:	 	  

		 	Name:	 	Fabio Cataldi
		 	Title:	 	Managing Director
	
	TRINSEO MATERIALS OPERATING S.A
	 R.L.,
 as a
Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann)
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg: B 153.586
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 STYRON HOLDING S.À R.L.,

as a Guarantor

	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann) L-
	5365 Munsbach, Luxembourg
	Share Capital: USD 660,834.12
	R.C.S. Luxembourg: B 153.582
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON FINANCE LUXEMBOURG S.À R.L.,
	as a Guarantor
	
	a Société à responsabilité limitée
	Registered office: 40 avenue Monterey, L-2163
	Luxembourg, Luxembourg
	Share Capital: USD 25,001.
	R.C.S. Luxembourg: B 151.012
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON HOLDING B.V.,
	as a Guarantor
		
	By:	 	  

		 	Name:	 	Frans Kempenaars
		 	Title:	 	Director
	
	 STYRON NETHERLANDS B.V.,
 as
a Guarantor

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 The Common Seal of             ) 

STYRON HOLDINGS ASIA PTE. LTD.         ) 

was hereunto affixed in accordance with its         ) 

Articles of Association:             ) 

 

	
	  

	
	Director
	
	  

	
	Director/Secretary
	
	Address:
	
	Fax No:
	
	Attention:

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 The Common Seal of             ) 

STYRON SINGAPORE PTE. LTD.     ) 

was hereunto affixed in accordance with its         ) 

Articles of Association:             ) 

 

	
	  

	
	Director
	
	  

	
	Director/Secretary
	
	Address:
	
	Fax No:
	
	Attention:

  
 [Signature Page to
Second Amendment to Credit Agreement] 

 
					
	STYRON SVERIGE AB,
	as a Guarantor
		
	By:	 	  

		 	Name:	 	Erkki Kesti,
		 	Title:	 	Authorised Signatory
	
	 STYRON EUROPE GMBH,
 as a
Guarantor

		
	By:	 	  

		 	Name:	 	Marco Levi
		 	Title:	 	Managing Officer
	
	 STYRON UK LIMITED,
 as a
Guarantor

		
	By:	 	  

		 	Name:	 	Marco Levi
		 	Title:	 	
	
	 STYRON SPAIN S.L., Sociedad Unipersonal

as a Guarantor

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH,
	as Administrative Agent
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	SIGNATURE PAGE TO THE SECOND AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.A R.L., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	 [NAME OF INSTITUTION],
 as a
Consenting Lender:

	
	  

		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 ANNEX B 

GUARANTOR CONSENT AND REAFFIRMATION 

August 9, 2012 
 Reference
is made to (a) the Credit Agreement dated as of June 17, 2010 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), among TRINSEO MATERIALS OPERATING S.C.A. (formerly known as
STYRON S.A R.L. and TRINSEO MATERIALS OPERATING S.A R.L.), a partnership limited by shares (société en commandite par actions) organized under the laws of Luxembourg (the “Borrower”), the Guarantors party
thereto from time to time, DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent and Collateral Agent, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and
DEUTSCHE BANK AG NEW YORK BRANCH, as L/C Issuer and Swing Line Lender and (b) the Fourth Amendment, dated as of August 9, 2012 (“Fourth Amendment”), to the Credit Agreement attached as Exhibit A hereto. Capitalized terms
used but not otherwise defined in this Guarantor Consent and Reaffirmation (this “Consent”) are used with the meanings attributed thereto in Fourth Amendment. 

Each Guarantor hereby consents to the execution, delivery and performance of the Fourth Amendment and agrees that each reference to the Credit
Agreement in the Loan Documents shall, on and after the Fourth Amendment Effective Date be deemed to be a reference to the Credit Agreement as amended by Fourth Amendment. 

Each Guarantor hereby acknowledges and agrees that, after giving effect to each and all parts of the Fourth Amendment, all of its respective
obligations and liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by each and all parts of the Fourth Amendment, are, subject to such Guarantors limitations in accordance with Article
XI (Guarantee) of the Credit Agreement, reaffirmed, and remain in full force and effect. 
 After giving effect to each and all parts of the
Fourth Amendment, each Guarantor reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured Parties under each of the Loan Documents to which it is a party, which Liens were always intended by the parties to secure the
Obligations as amended from time to time (including any increases thereof) and shall continue in full force and effect during the term of the Credit Agreement as amended by each and all parts of the Fourth Amendment, and shall continue to secure the
Obligations (after giving effect to each and all parts of the Fourth Amendment and including any increase of such Obligations), in each case, on and subject to the terms and conditions set forth in the Credit Agreement, as amended by each and al
parts of the Fourth Amendment, and the other Loan Documents. 
 Nothing in this Consent shall create or otherwise give rise to any right to
consent on the part of the Guarantors to the extent not required by the express terms of the Loan Documents. 
 This Consent is a Loan
Document and shall be governed by, and construed and interpreted in accordance with, the law of the state of New York (without regard to conflict of laws principles other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

This Consent may be executed in counterparts, and all such counterparts taken together shall be deemed to constitute one and the same
instrument. 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Consent as of the date first set
forth above. 
  

			
	[NAMES OF GUARANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A to 

Guarantor Consent and Reaffirmation 

Fourth Amendment to the Credit Agreement 

[see attached]EX-10.6

 Exhibit 10.6 

EXECUTION VERSION 
 FIFTH
AMENDMENT TO CREDIT AGREEMENT 
 FIFTH AMENDMENT TO CREDIT AGREEMENT, dated as of January 29, 2013 (this “Fifth
Amendment”), among TRINSEO MATERIALS OPERATING S.C.A. (formerly known as STYRON S.À R.L. and TRINSEO MATERIALS OPERATING S.À R.L.), a partnership limited by shares (société en commandite par actions)
organized under the laws of Luxembourg (the “Borrower”), the Guarantors, DEUTSCHE BANK AG NEW YORK BRANCH (“DBNY”), as administrative agent (in such capacity, the “Administrative Agent”), and as
swing line lender (in such capacity, the “Swing Line Lender”), and each Lender (as defined below) party hereto. 
 W I T
N E S S E T H: 
 WHEREAS, the Borrower, the Administrative Agent, the Guarantors party thereto from time to time and each lender from
time to time party thereto (the “Lenders”) have entered into a Credit Agreement, dated as of June 17, 2010 (as amended by that certain First Amendment dated as of February 2, 2011, that certain Second Amendment dated as of
July 28, 2011, that certain Third Amendment dated as of February 13, 2012, and that certain Fourth Amendment dated as of August 9, 2012, the “Credit Agreement”) (capitalized terms not otherwise defined in this Fifth
Amendment have the same meanings as specified in the Credit Agreement); 
 Secured Notes Consent 

WHEREAS, the Borrower desires to obtain the consent (the “Secured Notes Consent”) of the Required Lenders to issue first lien
secured notes (the “2013 Senior Secured Notes”) as more fully described in the offering circular dated January 24, 2013 in the form attached as Annex B (the “Offering Circular”) that will constitute
Permitted Refinancing Notes, on the terms and conditions set forth in Section 1 below; 
 WHEREAS, pursuant to
Section 10.01 of the Credit Agreement, the consent of the Required Lenders is necessary to effect the Secured Notes Consent; 

WHEREAS, contemporaneous with the issuance of the 2013 Senior Secured Notes and the repayment of the Term Loans with the proceeds thereof, the
Revolving Credit Lenders will constitute Consenting Lenders (as defined below); 
 Refinancing Amendment 

WHEREAS, in connection with obtaining the Secured Notes Consent, the Borrower desires to amend the Credit Agreement as set forth in
Section 2 below (the “Refinancing Amendment”); 
 WHEREAS, pursuant to Section 10.01 of the Credit
Agreement, the consent of the Required Lenders, each of the Revolving Credit Lenders and the Swing Line Lender is necessary to effect the Refinancing Amendment; 

WHEREAS, contemporaneous with the issuance of the 2013 Senior Secured Notes and the repayment of the Term Loans with the proceeds thereof, the
Lenders party hereto, other than the Revolving Commitment Increase Lenders that are not Lenders prior to giving effect to the Revolving Commitment Increase Amendment (the “Consenting Lenders”), constitute (i) the Required
Lenders and (ii) each of the Revolving Credit Lenders under the Credit Agreement, in each case immediately prior to giving effect to the Revolving Commitment Increase Amendment; and 

 WHEREAS, the Administrative Agent, the Loan Parties, the Swing Line Lender and the Consenting
Lenders are willing to so agree pursuant to Section 10.01 of the Credit Agreement, subject to the conditions set forth herein; 
 Revolving
Commitment Increase Amendment 
 WHEREAS, the Borrower seeks to increase the Revolving Credit Commitments from $240,000,000 to
$300,000,000 (the “Revolving Commitment Increase”) pursuant to Section 2.16 of the Credit Agreement on the terms and conditions set forth herein (“Revolving Commitment Increase Amendment”); 

WHEREAS, the Borrower has requested that the existing Lenders and other banks or financial institutions executing this Amendment as Revolving
Commitment Increase Lenders make commitments to provide the Revolving Commitment Increase, on the terms and conditions set forth herein; and 

WHEREAS, the Borrower has delivered a notice to the Administrative Agent requesting the Revolving Commitment Increase in accordance with
Section 2.16 of the Credit Agreement and the Administrative Agent, the Borrower, the other Loan Parties, the Swing Line Lender and the Revolving Commitment Increase Lenders have agreed, subject to the terms and conditions hereinafter set
forth, to amend the Credit Agreement to provide for the Revolving Commitment Increase as set forth below; 
 NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration, the sufficiency and receipt of all of which is hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. Secured Notes Consent. Subject to the satisfaction of the conditions set forth in Section 4 hereof, the Required
Lenders hereby consent to the issuance by the Borrower and Trinseo Materials Finance of the 2013 Senior Secured Notes in an aggregate principal amount not to exceed $1,325,000,000 and on the terms described in the Offering Circular, it being agreed
that such 2013 Senior Secured Notes shall constitute Permitted Refinancing Notes for all purposes under the Credit Agreement and the issuance thereof shall constitute, and be subject to each of the requirements of, a Permitted Refinancing. 

SECTION 2. Refinancing Amendment to Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 5
hereof, the Loan Parties and the Consenting Lenders or the Required Lenders, as applicable, hereby agree to amend the Credit Agreement as follows: 

(a) Amendments to Section 1.01 (Defined Terms). 

(i) Section 1.01 of the Credit Agreement is hereby amended by adding in the appropriate alphabetical order the
following new definitions: 
 “2013 Intercreditor Agreement” has the meaning specified in the Fifth
Amendment. 
 “2013 Senior Secured Notes” has the meaning specified in the Fifth Amendment. 

  
 2 

 “2013 Senior Secured Notes Consolidated EBITDA” for any period
means the 2013 Senior Secured Notes Consolidated Net Income for such period: 
 (1) increased (without duplication) by: 

(a) provision for taxes based on income or profits or capital, including, without limitation, state, franchise and similar
taxes and foreign withholding taxes of such Person paid or accrued during such period deducted (and not added back) in computing 2013 Senior Secured Notes Consolidated Net Income; plus 

(b) Fixed Charges of such Person for such period (including (x) net losses on Swap Contracts or other derivative
instruments entered into for the purpose of hedging interest rate risk and (y) costs of surety bonds in connection with financing activities, plus, to the extent excluded from the definition of “Consolidated Interest Expense,”
(w) any expense resulting from the discounting of any Indebtedness in connection with the application of purchase accounting in connection with any acquisition, (x) amortization of deferred financing fees, debt issuance costs, commissions,
fees and expenses, (y) any expensing of bridge, commitment and other financing fees, to the extent the same were deducted (and not added back) in calculating such 2013 Senior Secured Notes Consolidated Net Income; plus 

(c) the total amount of depreciation and amortization expense, including amortization of deferred financing fees of such
Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP to the extent the same were deducted (and not added back) in computing 2013 Senior Secured Notes Consolidated Net Income;
plus 
 (d) any expenses or charges (other than depreciation or amortization expense) related to any Equity Offering,
Investments permitted pursuant to Section 7.02, acquisition, disposition, recapitalization or the incurrence of Indebtedness permitted to be incurred hereunder (including a refinancing thereof) (whether or not successful), including
(i) such fees, expenses or charges related to the offering of the 2013 Senior Secured Notes and this Agreement and any Securitization Fees, and (ii) any amendment or other modification of the 2013 Senior Secured Notes, this Agreement and
any distributions or payments made directly or by means of discounts with respect to any Securitization Asset or participation interest therein issued or sold in connection with, and other fees paid to a person that is not a Restricted Subsidiary in
connection with, any Permitted Securitization, in each case, deducted (and not added back) in computing 2013 Senior Secured Notes Consolidated Net Income; plus 

(e) the amount of any restructuring charge or reserve, integration cost or other business optimization expense or cost
associated with establishing new facilities that is deducted (and not added back) in such period in computing 2013 Senior Secured Consolidated Net Income, including any one-time costs incurred in connection with acquisitions after the Fifth
Amendment Effective Date and costs related to the closure and/or consolidation of facilities; 

  
 3 

 (f) any other non-cash charges, write-downs, expenses, losses or items reducing
2013 Senior Secured Notes Consolidated Net Income for such period including any impairment charges or the impact of purchase accounting, (excluding any such non-cash charge, write-down or item to the extent it represents an accrual or reserve for a
cash expenditure for a future period) or other items classified by Holdings as special items less other non-cash items of income increasing 2013 Senior Secured Notes Consolidated Net Income (excluding any such non-cash item of income to the extent
it represents a receipt of cash in any future period); plus 
 (g) the amount of management, monitoring, consulting and
advisory fees (including termination fees) and related indemnities and expenses paid or accrued in such period to the Investors to the extent otherwise permitted hereunder; plus 

(h) the amount of net cost savings and operating efficiencies projected by Holdings in good faith to be realized as a result
of specified actions either taken or initiated prior to or during such period (calculated on a pro forma basis as though such cost savings had been realized on the first day of such period), net of the amount of actual benefits realized or expected
to be realized prior to or during such period from such actions; provided that such cost savings are reasonably identifiable and factually supportable; provided further that, to the extent not completed, such actions are
expected to be completed within twelve months; plus 
 (i) the amount of loss on sale of Securitization Assets and related
assets to the Securitization Entity in connection with a Permitted Securitization; plus 
 (j) any costs or expense incurred
by Holdings or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or
expenses are funded with cash proceeds contributed to the capital of Holdings or net cash proceeds of an issuance of Equity Interests of Holdings (other than Disqualified Equity Interests) solely to the extent that such net cash proceeds are
excluded from the calculation of Cumulative Credit; plus 
 (k) cash receipts (or any netting arrangements resulting in
reduced cash expenditures) not representing 2013 Senior Secured Notes Consolidated EBITDA or 2013 Senior Secured Notes Consolidated Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of
2013 Senior Secured Notes Consolidated EBITDA pursuant to clause (2) below for any previous period and not added back; plus 

(l) any net loss included in the consolidated financial statements due to the application of Financial Accounting Standards
No. 160 “Non-controlling Interests in Consolidated Financial Statements (“FAS 160”); plus 

  
 4 

 (m) realized foreign exchange losses resulting from the impact of foreign
currency changes on the valuation of assets or liabilities on the balance sheet of Holdings and its Restricted Subsidiaries; plus 

(n) net realized losses from Swap Contracts or embedded derivatives that require similar accounting treatment and the
application of Accounting Standard Codification Topic 815 and related pronouncements; 
 (2) decreased (without duplication) by: 

(a) non-cash gains increasing 2013 Senior Secured Notes Consolidated Net Income of such Person for such period, excluding any
non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced 2013 Senior Secured Notes Consolidated EBITDA in any prior period and any non-cash gains with respect to cash actually received
in a prior period so long as such cash did not increase 2013 Senior Secured Notes Consolidated EBITDA in such prior period; plus 

(b) realized foreign exchange income or gains resulting from the impact of foreign currency changes on the valuation of assets
or liabilities on the balance sheet of Holdings and its Restricted Subsidiaries; plus (c) any net realized income or gains from Swap Contracts or embedded derivatives that require similar accounting treatment and the application of Accounting
Standard Codification Topic 815 and related pronouncements; plus (d) any net income included in the consolidated financial statements due to the application of FAS 160 and 

(3) increased or decreased (without duplication) by, as applicable, any adjustments resulting for the application of Accounting Standards
Codification Topic 460 or any comparable regulation. 
 “2013 Senior Secured Notes Consolidated Net Income”
means, for any period, the net income (loss) of Holdings and its Restricted Subsidiaries determined on a consolidated basis on the basis of GAAP; provided, however, that there will not be included in such 2013 Senior Secured Notes
Consolidated Net Income: 
 (a) subject to the limitations contained in clause (c) below, any net income (loss) of any
Person if such Person is not a Restricted Subsidiary, except that Holdings’ equity in the net income of any such Person for such period will be included in such 2013 Senior Secured Notes Consolidated Net Income up to the aggregate amount of
cash or Cash Equivalents actually distributed by such Person during such period to Holdings or a Restricted Subsidiary as a dividend or other distribution or return on investment or could have been distributed, as reasonably

  
 5 

 
determined by an Officer of Holdings (subject, in the case of a dividend or other distribution or return on investment to a Restricted Subsidiary, to the limitations contained in clause
(b) below); 
 (b) solely for the purpose of determining the amount available for Restricted Payments under clause
(a) of the definition of “Cumulative Credit,” any net income (loss) of any Restricted Subsidiary (other than Guarantors) if such Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making
of distributions by such Restricted Subsidiary, directly or indirectly, to Holdings or a Guarantor by operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree, order, statute or governmental
rule or regulation applicable to such Restricted Subsidiary or its shareholders (other than (a) restrictions that have been waived or otherwise released, (b) restrictions pursuant this Agreement, and (c) restrictions under an
agreement or instrument relating to any Indebtedness permitted to be incurred hereunder if Holdings determines at the time of issuance of such Indebtedness that such restrictions will not adversely affect, in any material respect, the
Borrower’s ability to make principal or interest payments hereunder, except that Holdings’ equity in the net income of any such Restricted Subsidiary for such period will be included in such 2013 Senior Secured Notes Consolidated Net
Income up to the aggregate amount of cash or Cash Equivalents actually distributed or that could have been distributed by such Restricted Subsidiary during such period to Holdings or another Restricted Subsidiary as a dividend or other distribution
(subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained in this clause); 
 (c)
any net gain (or loss) realized upon the sale or other disposition of any asset or disposed operations of Holdings or any Restricted Subsidiaries (including pursuant to any sale/leaseback transaction) which is not sold or otherwise disposed of in
the ordinary course of business (as determined in good faith by an Officer or the Board of Directors of Holdings); 
 (d)
any extraordinary, exceptional, unusual or nonrecurring gain, loss, charge or expense or any charges, expenses or reserves in respect of any restructuring, redundancy or severance expense; 

(e) the cumulative effect of a change in accounting principles; 

(f) any (i) non-cash compensation charge or expense arising from any grant of stock, stock options or other equity based
awards and any non-cash deemed finance charges in respect of any pension liabilities or other provisions and (ii) income (loss) attributable to deferred compensation plans or trusts shall be excluded; 

(g) all deferred financing costs written off and premiums paid or other expenses incurred directly in connection with any
early extinguishment of Indebtedness and any net gain (loss) from any write-off or forgiveness of Indebtedness; 

  
 6 

 (h) any unrealized gains or losses in respect of Swap Contracts or any
ineffectiveness recognized in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify as hedge transactions, in each case, in respect of Swap Contracts; 

(i) any unrealized foreign currency transaction gains or losses in respect of Indebtedness of any Person denominated in a
currency other than the functional currency of such Person and any unrealized foreign exchange gains or losses relating to translation of assets and liabilities denominated in foreign currencies; 

(j) any unrealized foreign currency translation or transaction gains or losses in respect of Indebtedness or other obligations
of Holdings or any Restricted Subsidiary owing to Holdings or any Restricted Subsidiary; 
 (k) any purchase accounting
effects including, but not limited to, adjustments to inventory, property and equipment, software and other intangible assets and deferred revenue in component amounts required or permitted by GAAP and related authoritative pronouncements (including
the effects of such adjustments pushed down to Holdings and the Restricted Subsidiaries), as a result of any consummated acquisition, or the amortization or write-off of any amounts thereof (including any write-off of in process research and
development); 
 (l) any goodwill or other intangible asset impairment charge or write-off; 

(m) any after-tax effect of income (loss) from the early extinguishment or cancellation of Indebtedness or Swap Contracts or
other derivative instruments shall be excluded; 
 (n) any net unrealized gains and losses resulting from Swap Contracts or
embedded derivatives that require similar accounting treatment and the application of Accounting Standards Codification Topic 815 and related pronouncements shall be excluded; and 

(o) the amount of any expense to the extent a corresponding amount is received in cash by Holdings and the Restricted
Subsidiaries from a Person other than Holdings or any Restricted Subsidiaries under any agreement providing for reimbursement of any such expense, provided such reimbursement payment has not been included in determining 2013 Senior Secured Notes
Consolidated Net Income (it being understood that if the amounts received in cash under any such agreement in any period exceed the amount of expense in respect of such period, such excess amounts received may be carried forward and applied against
expense in future periods). 

  
 7 

 “Commitment Reduction Condition” means, as of any date, a
condition that will be satisfied if the aggregate Net Proceeds realized or received by Holdings and the Restricted Subsidiaries from all Dispositions since the Fifth Amendment Effective Date equal or exceed 30% of Total Assets as of such date. 

“Consolidated Secured Indebtedness” means, as of any date of determination, the sum of the aggregate
outstanding Secured Indebtedness for borrowed money and Attributable Indebtedness of Holdings and its Restricted Subsidiaries less the aggregate amount of cash and Cash Equivalents (other than Restricted Cash) of Holdings and its Restricted
Subsidiaries that would be reflected on a balance sheet of Holdings and its Restricted Subsidiaries as of such date. 

“Consolidated Secured Leverage Ratio” means, as of any date of determination for any Test Period, the ratio of
(a) Consolidated Secured Indebtedness as of the last day of such Test Period to (b) 2013 Senior Secured Notes Consolidated EBITDA for such Test Period. 

“Consolidated Total Net First Lien Indebtedness” means, as of any date of determination, Consolidated Total
Net Debt, other than any portion of Consolidated Total Net Debt that is unsecured or that is secured by a Lien on any assets of Holdings or any of its Restricted Subsidiaries that is expressly subordinated to the Liens granted under the Collateral
Documents to the Collateral Agent for the benefit of the Secured Parties in all respects (it being understood that the Liens granted to secure the 2013 Senior Secured Notes and any other Liens granted to secure Indebtedness on similar terms to the
2013 Senior Secured Notes (and any refinancing thereof) are not, for the purpose of this definition, expressly subordinated to the Liens granted under the Collateral Documents to the Collateral Agent for the benefit of the Secured Parties). 

“Designated Preferred Stock” means, with respect to Holdings, Preferred Stock (other than Disqualified Equity
Interests) (a) that is issued for cash (other than to Holdings or a Subsidiary of Holdings or an employee stock ownership plan or trust established by Holdings or any such Subsidiary for the benefit of their employees to the extent funded by
Holdings or such Subsidiary) and (b) that is designated as “Designated Preferred Stock” pursuant to an Officer’s Certificate of Holdings at or prior to the issuance thereof, the Net Proceeds of which constitute Net Proceeds or
property or assets or marketable securities received from an issuance or sale of such capital stock to a Restricted Subsidiary or an employee stock ownership plan or trust established by Holdings or any Subsidiary of Holdings for the benefit of its
employees to the extent funded by Holdings or any Restricted Subsidiary, (y) Net Proceeds or property or assets or marketable securities to the extent that any Restricted Payment has been made from such proceeds and (z) Excluded
Contributions). 

  
 8 

 “Dollar Amount” means, at any time: 

(a) with respect to any Loan denominated in Dollars (including, with respect to any Swing Line Loan, any funded participation
therein), the principal amount thereof then outstanding (or in which such participation is held); 
 (b) with respect to any
Loan denominated in Euros, the Dollar Equivalent of the principal amount thereof then outstanding in Euros; and 
 (c) with
respect to any L/C Obligation (or any risk participation therein), the amount thereof. 
 “EMU Legislation”
means the legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European currency. 

“Equity Offering” means (x) a sale of capital stock of Holdings (other than Disqualified Equity
Interests) other than offerings registered on Form S-8 (or any successor form) under the Securities Act or any similar offering in other jurisdictions, or (y) the sale of capital stock or other securities of any direct or indirect parent, the
proceeds of which are contributed to the equity (other than through the issuance of Disqualified Equity Interests or Designated Preferred Stock or through an Excluded Contribution) of the Company or any of its Restricted Subsidiaries. 

“Euros” and “EUR” mean the lawful currency of the Participating Member States introduced in
accordance with the EMU Legislation. 
 “Excluded Contribution” means Net Proceeds or property or assets
received by Holdings as capital contributions to the equity (other than through the issuance of Disqualified Equity Interests or Designated Preferred Stock) of Holdings after the Fifth Amendment Effective Date or from the issuance or sale (other
than to a Restricted Subsidiary or an employee stock ownership plan or trust established by Holdings or any Subsidiary of Holdings for the benefit of their employees to the extent funded by Holdings or any Restricted Subsidiary) of capital stock
(other than Disqualified Equity Interests or Designated Preferred Stock) of Holdings, to the extent designated as an Excluded Contribution pursuant to an Officer’s Certificate of Holdings. 

“Fifth Amendment” means the Fifth Amendment to this Agreement, dated as of January 29 2013, among the
Borrower, the other Loan Parties, the Administrative Agent, the Swing Line Lender and the Lenders party thereto. 

“Fifth Amendment Effective Date” means the first date on which all the conditions precedent in
Section 5 of the Fifth Amendment are satisfied or waived in accordance with Section 5 of the Fifth Amendment. 

“First Lien Net Leverage Ratio” means, on any date of determination for any Test Period, the ratio of
(a) Consolidated Total Net First Lien Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period. 

  
 9 

 “Fixed Charge Coverage Ratio” means, on any date of
determination for any Test Period, the ratio of (a) 2013 Senior Secured Notes Consolidated EBITDA for such Test Period to (b) Fixed Charges for such Test Period. 

“Fixed Charges” means, with respect to any Person for any period, the sum of: (1) Consolidated Interest
Expense for such Person for such period, (2) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred Stock of any Subsidiary of such Person during such period and (3) all cash
dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Disqualified Equity Interests during such period. 

“Mandatory Cost” means, with respect to any period, the percentage per annum determined in accordance with
Schedule 1.01C. 
 “Participating Member State” means each state so described in any EMU Legislation.

 “Preferred Stock” means, as applied to the Equity Interests of any Person, Equity Interests of any class
or classes (however designated) which is preferred as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class of such
Person. 
 “Required Revolving Credit Lenders” means, as of any date of determination, Revolving Credit
Lenders constituting the Required Class Lenders. 
 “Secured Indebtedness” means any Indebtedness secured by
a Lien (including, for the avoidance of doubt, Indebtedness for borrowed money, Attributable Indebtedness and debt obligations evidenced by promissory notes or similar instruments). 

“Security Trustee” means Deutsche Bank AG, New York Branch in its capacity as security trustee, as established
pursuant to an English law governed security trust deed dated August 17, 2010. 
 “TARGET Day” means
any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system which utilizes a single shared platform and which was launched on November 19, 2007 (or, if such payment system ceases to be
operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

(ii) Section 1.01 of the Credit Agreement is hereby further amended by deleting the following definitions in their
entirety: “CapEx Pull-Forward Amount,” “Interest Coverage Ratio,” “Rollover Amount” and “Term Loan Repayment Condition.” 

(iii) Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of “Applicable
Margin” by (1) deleting the text “Senior Secured Leverage Ratio” from clause (a)(i) thereof and inserting in lieu thereof the text “First Lien Net Leverage Ratio”; 

  
 10 

 (2) restating clause (b) of the definition of “Applicable Margin” in its entirety
as follows: 
 “(b) with respect to Revolving Credit Loans (I) prior to the Fifth Amendment Effective Date, the rate set forth in
clause (b)(i)(A) and (b)(i)(B) of the definition of “Applicable Margin,” as applicable, without giving effect to the Fifth Amendment and (II) on and after the Fifth Amendment Effective Date, for Revolving Credit Loans (A) maintained
as Base Rate Loans, 3.00% and (B) maintained as LIBO Rate Loans, 4.00%;”; 
 (3) restating clause (c) of the definition of
“Applicable Margin” in its entirety as follows: 
 “(c) with respect to Swing Line Loans (I) prior to the Fifth
Amendment Effective Date, the rates set forth in clauses (c)(i) and (ii) of the definition of “Applicable Margin” without giving effect to the Fifth Amendment and (II) on and after the Fifth Amendment Effective Date, 3.00%;”;

 (4) (x) deleting the text “Senior Secured Leverage Ratio” and inserting in lieu thereof the text “First Lien Net
Leverage Ratio” and (y) deleting the text “or the Total Leverage Ratio, as applicable,” from the paragraph immediately following clause (c) of the definition of “Applicable Margin”; and 

(5) deleting the penultimate paragraph of such definition. 

(iv) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “Business
Day” in its entirety as follows: 
 ““Business Day” means (a) any day other than a Saturday, Sunday or other
day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, Luxembourg or the State where the Administrative Agent’s Office with respect to Loans denominated in Dollars is located, (b) if such day
relates to any interest rate settings as to a LIBO Rate Loan denominated in Dollars, any fundings, disbursements, settlements and payments in respect of any such LIBO Rate Loan denominated in Dollars, or any other dealings to be carried out pursuant
to this Agreement in respect of any such LIBO Rate Loan denominated in Dollars, any such day described in clause (a) above which is also a day on which dealings in deposits are conducted by and between banks in the London interbank eurodollar
market and (c) if such day relates to any interest rate settings as to a LIBO Rate Loan denominated in Euros, any fundings, disbursements, settlements and payments in respect of any such LIBO Rate Loan denominated in Euros, or any other
dealings to be carried out pursuant to this Agreement in respect of any such LIBO Rate Loan denominated in Euros, any such day described in clause (a) above that is also a TARGET Day.”. 

(v) Section 1.01 of the Credit Agreement is hereby further amended by deleting clause (x) of the proviso to
the definition of “Base Rate” and inserting in lieu thereof the text “(x) 2.75% per annum for all Revolving Credit Loans maintained as Base Rate Loans and outstanding prior to the Fifth Amendment Effective Date,”. 

  
 11 

 (vi) Section 1.01 of the Credit Agreement is hereby further amended
by restating the definition of “Calculation Date” in its entirety as follows: 
 ““Calculation Date” shall
mean (a) the first Business Day of each calendar month, (b) each date (with such date to be reasonably determined by the Administrative Agent) that is on or about the date of the issuance, amendment, renewal or extension of a Letter of
Credit denominated in an Alternative Currency, (c) each date (with such date to be reasonably determined by the Administrative Agent) that is on or about the date of a Revolving Credit Borrowing of LIBO Rate Loans denominated in Euros and each
continuation of a LIBO Rate Loan denominated in Euros and (d) if an Event of Default has occurred and is continuing, any Business Day as determined by the Administrative Agent in its sole discretion.”. 

(vii) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Collateral Documents” in its entirety as follows: 
 ““Collateral Documents” means, collectively, the
Security Agreement, each of the Mortgages, collateral assignments, security agreements, pledge agreements, Intellectual Property Security Agreements, deeds of hypothecs, bonds, bond pledge agreements or other similar agreements delivered to the
Administrative Agent pursuant to Section 4.01, Section 6.11 or Section 6.14, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative
Agent, the Collateral Agent and/or the Security Trustee (as relevant), in each case for the benefit of the Secured Parties.”. 

(viii) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Committed Loan Notice” in its entirety as follows: 
 ““Committed Loan Notice” means a notice of (a) a
Borrowing, (b) a conversion of Loans denominated in Dollars from one Type to the other, or (c) a continuation of LIBO Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of
Exhibit A.”. 
 (ix) Section 1.01 of the Credit Agreement is hereby further amended by amending the
definition of “Consolidated EBITDA” by restating the last paragraph thereof in its entirety as follows: 
 “Notwithstanding
anything to the contrary contained herein, for purposes of determining Consolidated EBITDA under this Agreement (i) for any period that includes any of the fiscal quarters ended June 30, 2009, September 30,
2009, December 31, 2009 and March 31, 2010, Consolidated EBITDA for such fiscal quarters shall be $71,626,551, $64,069,498, $62,017,229 and $83,659,434, respectively; provided, however, that Consolidated EBITDA for any
of the foregoing periods shall be increased by the amount attributable to Returns during such period, if any, made to the Acquired Business with respect to the Target JV Interests which are acquired by Holdings or any Restricted Subsidiary on or
after the Closing Date, (ii) calculations of Consolidated EBITDA 

  
 12 

 
for the fiscal quarter ending June 30, 2010 shall be made as provided in Schedule 1.01(o) of the Acquisition Agreement subject to, without duplication, the add backs provided for above in
this definition, (iii) for any period that includes any of the fiscal quarters ended June 30, 2010 or September 30, 2010, Consolidated EBITDA for such fiscal quarters shall be $87,502,000 and $108,503,000, respectively, (iv) for
any period that includes any of the fiscal quarters ended March 31, 2012, December 31, 2011 or September 30, 2011, Consolidated EBITDA, excluding pro forma adjustments (if any) pursuant to Section 1.10, for such fiscal
quarters shall be $143,966,000, $28,637,000 and $68,119,000, respectively, and (v) for any period that includes any of the fiscal quarters ended September 30, 2012 or June 30, 2012, Consolidated EBITDA, excluding pro forma adjustments
(if any) pursuant to Section 1.10, for such fiscal quarters shall be $73,340,000 and $46,844,000, respectively.”. 

(x) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Consolidated Total Net Debt” in its entirety as follows: 
 ““Consolidated Total Net Debt” means, as of any
date of determination, the aggregate principal amount of Indebtedness of Holdings and its Restricted Subsidiaries that are consolidated entities of Holdings in accordance with GAAP outstanding on such date, in an amount that would be reflected on a
balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of purchase accounting in connection with the Transactions or any
Permitted Acquisition), consisting of Indebtedness for borrowed money, Attributable Indebtedness, and debt obligations evidenced by promissory notes or similar instruments, minus the aggregate amount of cash and Cash Equivalents (other than
Restricted Cash) of Holdings and its Restricted Subsidiaries that would be reflected on a balance sheet of Holdings and its Restricted Subsidiaries as of such date (in each case free and clear of all Liens, other than nonconsensual Liens permitted
by Section 7.01); provided that (i) Consolidated Total Net Debt shall not include Indebtedness in respect of letters of credit, except to the extent of unreimbursed amounts thereunder; provided that any unreimbursed amount
under commercial letters of credit shall not be included as Consolidated Total Net Debt until three (3) Business Days after such amount is drawn, (ii) obligations under Swap Contracts entered into for non-speculative purposes shall not
constitute Consolidated Total Net Debt, (iii) the aggregate principal amount of the Revolving Credit Facility during any relevant period shall be calculated based on the daily average outstanding amount of the Revolving Credit Loans and the
Swing Line Loans during such period and (iv) Consolidated Total Net Debt shall not include the aggregate principal amount of outstanding Indebtedness of each Securitization Subsidiary that is a consolidated entity of Holdings in accordance with
GAAP under any Permitted Securitizations on such date.”. 

  
 13 

 (xi) Section 1.01 of the Credit Agreement is hereby further amended
by amending the definition of “Cumulative Credit” by (1) restating clause (a) thereof in its entirety as follows: 

“(a) 50% of 2013 Senior Secured Notes Consolidated Net Income for the period (treated as one accounting period) from January 1, 2013
to the end of the most recent fiscal quarter ending prior to such date of determination for which internal consolidated financial statements of Holdings are available (or, in the case such 2013 Senior Secured Notes Consolidated Net Income is a
deficit, minus 100% of such deficit); plus”; and 
 (2) deleting the text “pursuant to
Section 7.10(d)” from clause (h) thereof. 
 (xii) Section 1.01 of the Credit Agreement is
hereby further amended by restating the definition of “First Lien Intercreditor Agreement” in its entirety as follows: 

““First Lien Intercreditor Agreement” means an agreement by and among the Collateral Agent and the First Lien Notes
Representative for the holders of First Lien Obligations appropriately completed and acknowledged by the Borrower and the Guarantors providing, among other customary items as determined by the Collateral Agent that (i) for so long as any
Commitments, Loans, Letters of Credit, or other Obligations are outstanding under this Agreement (other than contingent obligations for which no claim has been asserted) the Collateral Agent, on behalf of the Lenders, shall have the sole right to
enforce any Lien against any Collateral in which it has a perfected security interest (except that, to the extent the principal amount of the Permitted Refinancing Notes exceed the principal amount of Loans and L/C Obligations under this Agreement,
such agreement may provide that the First Lien Notes Representative shall instead be subject to a 180 day standstill requirement with respect to such enforcement (which period shall be extended if the Collateral Agent commences enforcement against
the Collateral during such time period or is prohibited by any requirement of Law from commencing such proceedings) in the event it has given notice of an event of default under the Permitted Refinancing Notes Documents for which it is agent and
(ii) distributions on account of any enforcement against the Collateral by the Collateral Agent or the First Lien Notes Representative (including any distribution on account of the Collateral in any such proceeding pursuant to any Debtor Relief
Laws) with respect to which each of the Collateral Agent and the First Lien Notes Representative have a perfected security interest shall be paid in respect of the Obligations until all amounts outstanding under the Revolving Credit Facility
(including post-petition interest) and all amounts owed to the Hedge Banks are paid in full before any distributions are paid to the other holders of Obligations or the holders of the First Lien Obligations. The 2013 Intercreditor Agreement
constitutes a First Lien Intercreditor Agreement and each reference hereunder or in any Loan Document to the First Lien Intercreditor Agreement shall, unless otherwise specifically provided, include the 2013 Intercreditor Agreement.”. 

  
 14 

 (xiii) Section 1.01 of the Credit Agreement is hereby further amended
by amending and restating the definition of “Incremental Term Loans” in its entirety as follows: 
 ““Incremental
Term Loans” has the meaning set forth in Section 2.16(a) prior to the effectiveness of the Fifth Amendment.”. 

(xiv) Section 1.01 of the Credit Agreement is hereby further amended by deleting the text “of the Term
Loans” appearing immediately prior to the proviso of the definition of “Disqualified Equity Interests”. 

(xv) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “LIBO
Rate” in its entirety as follows: 
 ““LIBO Rate” means, for each Interest Period, 

(a) in the case of LIBO Rate Loans denominated in Dollars, the offered rate per annum for deposits of Dollars that appears on
Reuters Screen LIBOR01 Page as of 11:00 A.M. (London, England time) on the day that is two (2) Business Days prior to the commencement of such Interest Period. If no such offered rate exists, such rate will be the rate of interest per annum, as
determined by the Administrative Agent, at which deposits of Dollars in immediately available funds are offered at 11:00 A.M. (London, England time) two (2) Business Days prior to the applicable Interest Period to first-class banks in the
London interbank Eurodollar market for such Interest Period for the applicable principal amount on such date of determination; and 

(b) in the case of LIBO Rate Loans denominated in Euros, the offered rate per annum for deposits of Euros that appears on
Reuters Screen EURIBOR01 Page as of 11:00 A.M. (Brussels, Belgium time) on the day that is two (2) Business Days prior to the commencement of such Interest Period. If no such offered rate exists, such rate will be the rate of interest per
annum, as determined by the Administrative Agent, at which deposits of Euros in immediately available funds are offered at 11:00 A.M. (Brussels, Belgium time) two (2) Business Days prior to the applicable Interest Period to first-class banks in
the European interbank market for such Interest Period for the applicable principal amount on such date of determination. 

Notwithstanding the foregoing, the LIBO Rate shall not be less than (x) 1.75% per annum for all Revolving Credit
Loans maintained as LIBO Rate Loans and outstanding prior to the Fifth Amendment Effective Date, (y) 1.75% for all Term Loans maintained as LIBO Rate Loans and outstanding prior to the First Amendment Effective Date and the making of the
Replacement Term Loans and (z) 1.50% for all Term Loans maintained as LIBO Rate Loans and outstanding on and after the First Amendment Effective Date following the making of the Replacement Term Loans.”. 

(xvi) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “LIBO Rate
Loan” in its entirety as follows: 
 ““LIBO Rate Loan” means a Loan that bears interest at a rate based on the
LIBO Rate whether denominated in Dollars or in Euros.”. 

  
 15 

 (xvii) Section 1.01 of the Credit Agreement is hereby further amended
by amending the definition of “Maturity Date” by deleting the text “the fifth anniversary of the Closing Date” from clause (ii) of such definition and inserting in lieu thereof the text “January 29, 2018”. 

(xviii) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of
“Outstanding Amount” in its entirety as follows: 
 ““Outstanding Amount” means (a) with respect to the
Term Loans, Revolving Credit Loans, Swing Line Loans, Extended Term Loans or Loans made under any Extended Revolving Credit Commitment, as applicable, on any date, the aggregate outstanding Dollar Amount thereof after giving effect to any borrowings
and prepayments or repayments of Term Loans, Revolving Credit Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing), Swing Line Loans, Extended Term Loans or
Loans made under any Extended Revolving Credit Commitment, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the outstanding Dollar Amount thereof on such date after giving effect to any L/C
Credit Extension occurring on such date and any other changes thereto as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid drawings
under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing) or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date.”. 

(xix) Section 1.01 of the Credit Agreement is hereby further amended by restating the definition of “Permitted
Securitization” in its entirety as follows: 
 ““Permitted Securitization” means a Securitization that complies
with the following criteria: (i) the originator with respect to such Securitization shall be organized under the laws of Switzerland, Germany, France, The Netherlands, Sweden, Finland, Spain, the United Kingdom, Italy or the United States,
(ii) the Securitization, including the sale of the Securitization Assets and the incurrence of Indebtedness in connection therewith is effected on market terms, taking into account the applicable Securitization market for assets similar to the
respective Securitization Assets and the structure implemented for such Securitization (as determined in good faith by Holdings), (iii) the sum of the Maximum Securitization Facility Sizes for all Securitizations shall not at any time exceed
$260,000,000 and (iv) the Securitization Seller’s Retained Interest and all proceeds thereof shall constitute Collateral hereunder and all necessary steps to perfect a security interest in such Securitization Seller’s Retained
Interest of the Collateral Agent are taken by the Borrower or Restricted Subsidiary.”. 

  
 16 

 (xx) Section 1.01 of the Credit Agreement is hereby further amended
by restating the definition of “Revolving Credit Borrowing” in its entirety as follows: 
 ““Revolving Credit
Borrowing” means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and currency and, in the case of LIBO Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to
Section 2.01(b).”. 
 (xxi) Section 1.01 of the Credit Agreement is hereby further amended by
amending the definition of “Revolving Credit Exposure” by deleting the text “principal amount” from such definition and inserting in lieu thereof the text “Dollar Amount”. 

(xxii) Section 1.01 of the Credit Agreement is hereby further amended by amending the definition of “Second
Lien Intercreditor Agreement” by inserting the following text at the end of clause (v) of such definition: 
 “(and, in any
event, on a priority with respect to the Obligations relative to the First Lien Obligations consistent with the priority of distributions in respect of the Collateral required for the Obligations under a First Lien Intercreditor Agreement)”.

 (b) Amendment to Section 1.10 (Pro Forma Calculations). Section 1.10 of the Credit Agreement is hereby amended
and restated in its entirety as follows: 
 “Section 1.10 Pro Forma Calculations. (a) Notwithstanding anything to the
contrary herein, the Total Leverage Ratio, the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio shall be calculated in the manner prescribed by this Section 1.10; provided,
that notwithstanding anything to the contrary in clauses (b), (c) or (d) of this Section 1.10, when calculating the Total Leverage Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio, as
applicable, for purposes of (i) the definition of “Applicable Margin,” (ii) the Applicable ECF Percentage of Excess Cash Flow and (iii) determining actual compliance (and not Pro Forma Compliance or compliance on a Pro Forma
Basis) with any covenant pursuant to Section 7.11, the events described in this Section 1.10 that occurred subsequent to the end of the applicable Test Period shall not be given pro forma effect. 

(b) For purposes of calculating the Total Leverage Ratio, the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio and the
First Lien Net Leverage Ratio, Specified Transactions (and the incurrence or repayment of any Indebtedness in connection therewith) that have been made (i) during the applicable Test Period and (ii) subsequent to such Test Period and prior
to or simultaneously with the event for which the calculation of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in Consolidated EBITDA and the
component financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable 

  
 17 

 
Test Period. If since the beginning of any applicable Test Period any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Borrower
or any of its Restricted Subsidiaries since the beginning of such Test Period shall have made any Specified Transaction that would have required adjustment pursuant to this Section 1.10, then the Total Leverage Ratio, the Fixed Charge
Coverage Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio shall be calculated to give pro forma effect thereto in accordance with this Section 1.10. 

(c) Whenever pro forma effect is to be given to a Specified Transaction, the pro forma calculations shall be made in good faith
by a responsible financial or accounting officer of Holdings and include, for the avoidance of doubt, the amount of cost savings, operating expense reductions and synergies projected by Holdings in good faith to be realized as a result of specified
actions taken during such period (calculated on a pro forma basis as though such cost savings, operating expense reductions and synergies had been realized on the first day of such period as if such cost savings, operating expense
reductions and synergies were realized during the entirety of such period) relating to such Specified Transaction, net of the amount of actual benefits realized during such period from such actions; provided, that (A) such amounts are
reasonably identifiable and factually supportable in the good faith judgment of Holdings, (B) such actions are taken within eighteen (18) months after the date of such Specified Transaction, (C) any cost savings, operating expense
reductions and synergies that are not actually realized during such period may no longer be added pursuant to this clause (c) after the end of the fourth full fiscal quarter ending after the date of such Specified Transaction, and (D) no
amounts shall be added pursuant to this clause (c) to the extent duplicative of any amounts that are otherwise added back in computing Consolidated EBITDA, whether through a pro forma adjustment or otherwise, with respect to such
period. Notwithstanding the foregoing, (A) in no event shall the aggregate amount of pro forma adjustments under this clause (c) together with any add backs pursuant to clause (xi) of the definition of Consolidated
EBITDA, increase Consolidated EBITDA by more than 7.5% for any Test Period, and (B) pro forma adjustments under this clause (c) shall not be included in computations of the Applicable Margin pursuant to
Section 2.08 or the Applicable ECF Percentage pursuant to Section 2.05(b)(i). 
 (d) In the event that Holdings or
any Restricted Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption, repayment, retirement or extinguishment) any Indebtedness included in the calculations of the Total Leverage Ratio, the Fixed Charge
Coverage Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio, as the case may be (in each case, other than Indebtedness incurred or repaid under any revolving credit facility in the ordinary course of business for
working capital purposes), (i) during the applicable Test Period and (ii) subsequent to the end of the applicable Test Period and prior to or simultaneously with the event for 

  
 18 

 
which the calculation of any such ratio is made, then the Total Leverage Ratio, the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio
shall be calculated giving pro forma effect to such incurrence or repayment of Indebtedness, to the extent required, as if the same had occurred on (A) the last day of the applicable Test Period in the case of the Total Leverage
Ratio, the Consolidated Secured Leverage Ratio and the First Lien Net Leverage Ratio and (B) the first day of the applicable Test Period in the case of the Fixed Charge Coverage Ratio. If any Indebtedness bears a floating rate of interest and
is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the date of the event for which the calculation of the Fixed Charge Coverage Ratio is made had been the applicable rate
for the entire period (taking into account any hedging obligations applicable to such Indebtedness); provided, in the case of repayment of any Indebtedness, to the extent actual interest related thereto was included during all or any portion
of the applicable Test Period, the actual interest may be used for the applicable portion of such Test Period. Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial
or accounting officer of Holdings to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or
similar rate, a London interbank offered rate, or other rate, shall be determined to have been based upon the rate actually chose, or if none, then based upon such optional rate chosen as Holdings may designate.”. 

(c) Amendment to Section 1.11 (Currency Equivalents). Section 1.11 of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “Section 1.11 Currency Equivalents. For purposes of any computation determining
compliance with any incurrence or expenditure tests set forth in Sections 6 and/or 7 (excluding Section 7.11) or any definitions contained in Section 1.01, any amounts so incurred, expended or utilized (to the extent
incurred, expended or utilized in a currency other than Dollars) shall be converted into Dollars on the basis of the Exchange Rate (or on such other basis as is reasonably satisfactory to the Administrative Agent) as in effect on the date of such
incurrence, expenditure or utilization under any provision of any such Section or definition that has an aggregate Dollar limitation provided for therein (and to the extent the respective incurrence, expenditure or utilization test regulates the
aggregate amount outstanding at any time and it is expressed in terms of Dollars, all outstanding amounts originally incurred or spent in currencies other than Dollars shall be converted into Dollars on the basis of the Exchange Rate (or on such
other basis as is reasonably satisfactory to the Administrative Agent) as in effect on the date of any new incurrence, expenditure or utilization made under any provision of any such Section that regulates the Dollar amount outstanding at any
time).”. 

  
 19 

 (d) Amendment to Section 2.01 (The Loans). Section 2.01(b) of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “(b) The Revolving Credit Borrowings. Subject to the
terms and conditions set forth herein each Revolving Credit Lender severally agrees to make Revolving Credit Loans denominated in Dollars or Euros as elected by the Borrower pursuant to Section 2.02 to the Borrower from its applicable
Lending Office (each such loan, a “Revolving Credit Loan”) from time to time, on any Business Day during the period from the Closing Date until the Maturity Date, in an aggregate Dollar Amount not to exceed at any time outstanding
the amount of such Lender’s Revolving Credit Commitment; provided that after giving effect to any Revolving Credit Borrowing the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro
Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each
Lender’s Revolving Credit Commitments, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this
Section 2.01(b). Revolving Credit Loans may be Base Rate Loans (if denominated in Dollars) or LIBO Rate Loans, as further provided herein.”. 

(e) Amendments to Section 2.02 (Borrowing, Conversion and Continuations of Loans). 

(i) Section 2.02(a) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the
other, and each continuation of LIBO Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than
12:30 p.m. (New York, New York time, in the case of Borrowings denominated in Dollars, or London time, in the case of any Borrowing denominated in Euros) (i) three (3) Business Days prior to the requested date of any Borrowing of or
conversion of Base Rate Loans to LIBO Rate Loans denominated in Dollars, (ii) three (3) Business Days prior to the requested date of any Borrowing or continuation of LIBO Rate Loans denominated in Euros and (iii) one (1) Business
Day before the requested date of any Borrowing of Base Rate Loans or conversion of LIBO Rate Loans denominated in Dollars to Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed
promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of LIBO Rate Loans shall be in a
minimum Dollar Amount of $1,000,000 or a whole multiple of a Dollar Amount of 

  
 20 

 
$250,000 in excess thereof. Except as provided in Section 2.03(c) or 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a minimum Dollar Amount of $500,000
or a whole multiple of a Dollar Amount of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion
of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of LIBO Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the
principal amount of Loans to be borrowed, converted or continued, (iv) in the case of Revolving Credit Loans, the currency in which the Revolving Credit Loans to be borrowed are to be denominated, (v) the Type of Loans to be borrowed or to
which existing Term Loans or Revolving Credit Loans (which in the case of Revolving Credit Loans denominated in Euros shall be LIBO Rate Loans) are to be converted and (vi) if applicable, the duration of the Interest Period with respect
thereto. If (x) with respect to LIBO Rate Loans denominated in Dollars, the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the
applicable Class of Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans or (y) with respect to LIBO Rate Loans denominated in Euros, the Borrower fails to give a timely notice requesting a continuation, then
the applicable Class of Term Loans or Revolving Credit Loans shall be continued as LIBO Rate Loans with an Interest Period of one month. Any such automatic conversion pursuant to the immediately preceding sentence shall be effective as of the last
day of the Interest Period then in effect with respect to the applicable LIBO Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of LIBO Rate Loans in any such Committed Loan Notice, but fails to specify an Interest
Period (or fails to give a timely notice requesting a continuation of LIBO Rate Loans denominated in Euros), it will be deemed to have specified an Interest Period of one (1) month. If no currency is specified, the requested Borrowing shall be
in Dollars.”; 
 (ii) Section 2.02(b) of the Credit Agreement is hereby amended and restated in its entirety
as follows: 
 “(b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the
amount of its Pro Rata Share of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base
Rate Loans or continuation described in Section 2.02(a). In the case of each Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in the applicable currency in Same Day Funds at the
Administrative Agent’s Office not later than 1:00 p.m. (New York, New York time) in the case of any Loan denominated in Dollars, and not later than 1:00 p.m. (London time) in the case of any Loan denominated in Euros, in each case, on the
Business Day specified in the applicable Committed Loan 

  
 21 

 
Notice. The Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the
Borrower on the books of the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the
Borrower; provided that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Swing Line Loans or L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first,
to the payment in full of any such L/C Borrowing, second, to the payment in full of any such Swing Line Loans, and third, to the Borrower as provided above (it being understood that if such Borrowing is of LIBO Rate Loans denominated in Euros, the
Borrower will be deemed to have requested that a portion of such Borrowing in an amount equal to the aggregate Swing Line Loans or L/C Borrowings that are to be repaid in accordance with this proviso be denominated in Dollars, and the Administrative
Agent shall notify each Appropriate Lender of such amount).”; and 
 (iii) The last sentence in
Section 2.02(c) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “During the existence
of an Event of Default, at the election of the Administrative Agent or the Required Lenders, no Loans denominated in Dollars may be requested as, converted to or continued as LIBO Rate Loans.”. 

(f) Amendments to Section 2.03 (Letters of Credit). 

(i) Section 2.03(a)(i) of the Credit Agreement is hereby amended by (1) restating clause (D) thereof in
its entirety as follows: 
 “(D) such Letter of Credit would support obligations of the Borrower or any of its Subsidiaries in respect
of the Seller Note, the 2013 Senior Secured Notes, any Junior Financing or any Equity Interest, or any other obligation of the Borrower or any of its Subsidiaries not reasonably satisfactory to the Administrative Agent;”; 

(2) deleting the text “or” appearing at the end of clause (E) thereof; 

(3) restating clause (F) thereof in its entirety as follows: 

“(F) such Letter of Credit is in an initial Dollar Amount less than $100,000 (unless otherwise agreed by such L/C Issuer and the
Administrative Agent); or”; and 
 (4) inserting a new clause (G) as follows as follows: 

“(G) such Letter of Credit is denominated in a currency other than Dollars or an Alternative Currency.”. 

  
 22 

 (g) Amendments to Section 2.05 (Prepayments). 

(i) Section 2.05(a) of the Credit Agreement is hereby amended by restating paragraph (i) thereof in its
entirety as follows: 
 “(i) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily
prepay Term Loans and Revolving Credit Loans in whole or in part subject to a prepayment fee as provided in Section 2.09(c), if applicable, and otherwise without premium or penalty; provided that (1) such notice must be
received by the Administrative Agent not later than (A) 12:30 p.m. (New York, New York time in the case of Loans denominated in Dollars, or London time in the case of Loans denominated in Euros) three (3) Business Days prior to any date of
prepayment of LIBO Rate Loans and (B) 11:00 a.m. (New York, New York time) on the date of prepayment of Base Rate Loans; (2) any prepayment of LIBO Rate Loans shall be in a principal Dollar Amount of $1,000,000, or a whole multiple of
$250,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans and the order of Borrowing(s) to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its
receipt of each such notice, and of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and
payable on the date specified therein. Any prepayment of a LIBO Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. In the case of each prepayment of
Loans pursuant to this Section 2.05(a), the Borrower may in its sole discretion select the Borrowing or Borrowings to be repaid, and such payment shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata
Shares. Each prepayment of Term Loans pursuant to this Section 2.05(a)(i) shall reduce future scheduled amortization payments of Term Loans required pursuant to Section 2.07(a) as directed by the Borrower by written notice to
the Administrative Agent at or prior to the time of such prepayment or, to the extent the Borrower has not provided such notice to the Administrative Agent at the time of such prepayment, in the direct order of maturity to the Term Loans.”; and

 (ii) Section 2.05(b) of the Credit Agreement is hereby amended by restating paragraph (v) thereof in its
entirety as follows: 
 “(v) If for any reason the aggregate Revolving Credit Exposures at any time exceeds the aggregate Revolving
Credit Commitments then in effect, the Borrower shall promptly prepay or cause to be promptly prepaid Revolving Credit Loans and Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess;
provided that the Borrower shall not be required to Cash 

  
 23 

 
Collateralize the L/C Obligations pursuant to this Section 2.05(b)(v) unless after the prepayment in full of the Revolving Credit Loans and Swing Line Loans such aggregate Revolving
Credit Exposures exceed the aggregate Revolving Credit Commitments then in effect; and provided further that notwithstanding the foregoing, if the sum of the aggregate Outstanding Amount of Revolving Credit Loans, Swing Line Loans and
L/C Obligations exceeds the aggregate amount of Revolving Credit Commitments then in effect by less than 5.0%, and any such excess is due solely to movements in currency exchange rates, then the Borrower shall not be required to take the foregoing
actions to eliminate any such excess.”. 
 (h) Amendment to Section 2.06 (Termination or Reduction of Commitments).
Section 2.06(b) of the Credit Agreement is hereby amended by adding the following sentence at the end of such Section: 

“In addition to and without limiting the foregoing, if on any date while the Commitment Reduction Condition is satisfied, Holdings or any
Restricted Subsidiary realizes or receives Net Proceeds from any Disposition, the Borrower shall, on or prior to the date that is five (5) Business Days after the date of the realization or receipt by Holdings or any Restricted Subsidiary of
such Net Proceeds, permanently reduce the aggregate Revolving Credit Commitments then in effect by an amount equal to 100% of all such Net Proceeds; provided that if but for the realization or receipt of the Net Proceeds from such
Disposition, the aggregate Net Proceeds realized or received by Holdings and the Restricted Subsidiaries from all Dispositions since the Fifth Amendment Effective Date would not equal or exceed 30% of Total Assets as of such date, the Borrower shall
only be required to permanently reduce the aggregate Revolving Credit Commitments pursuant to this sentence in connection with such Disposition in an amount equal to that portion of such Net Proceeds that causes all Net Proceeds realized or received
by Holdings and the Restricted Subsidiaries from all Dispositions since the Fifth Amendment Effective Date to equal or exceed 30% of Total Assets as of such date.” 

(i) Amendment to Section 2.08 (Interest). Section 2.08(a) of the Credit Agreement is hereby amended and restated in
its entirety as follows: 
 “(a) Subject to the provisions of Section 2.08(b), (i) each Term Loan or Revolving Credit
Loan, as applicable, that is maintained as a LIBO Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the sum of (A) the LIBO Rate for such Interest Period applicable
to the currency in which such LIBO Rate Loan is denominated, plus (B) the Applicable Margin therefor plus (C) in the case of a LIBO Rate Loan of any Lender which is lent from a Lending Office in a Participating Member State, the
Mandatory Cost; (ii) each Term Loan or Revolving Credit Loan, as applicable, that is maintained as a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to
the Base Rate plus the Applicable 

  
 24 

 
Margin therefor; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate
plus the Applicable Margin therefor.”. 
 (j) Amendment to Section 2.09 (Fees). Section 2.09(a) of the Credit
Agreement is hereby amended by restating the first sentence of such Section as follows: 
 “(a) Commitment Fee. The Borrower
agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee equal to (x) prior to the Fifth Amendment Effective Date, 0.75%, and (y) on and after the
Fifth Amendment Effective Date, 0.50%, in each case times the actual daily amount by which the aggregate Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans and (B) the Outstanding
Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be
payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no
commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.”. 

(k) Amendment to Section 2.12 (Payments Generally). Section 2.12(a) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(a) General. All payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such
payment is owed, at the Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein; provided that all payments by the Borrower hereunder in respect of principal of and interest on
Revolving Credit Loans denominated in Euros shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Euros and in Same Day Funds not later than
2:00 p.m. (London time) on the dates specified herein. If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in Euros that is otherwise required pursuant hereto to be made in Euros, the Borrower shall
make such payment in Dollars in the Dollar Amount of the Euro payment amount. The Administrative Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as
received by wire transfer to such Lender’s applicable Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m. (New York, New York time) in the case of payments in Dollars or (ii) after 2:00 p.m.

  
 25 

 
(London time) in the case of payments in Euros, shall, in each case, be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.”.

 (l) Amendment to Section 2.16 (Incremental Credit Extensions). Section 2.16 of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “(a) The Borrower may at any time or from time to time after the Fifth Amendment
Effective Date, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders), request one or more increases in the amount of the Revolving Credit Commitments on the same terms as the
Revolving Credit Facility (a “Revolving Commitment Increase”) in an aggregate amount not to exceed $25,000,000 following the Fifth Amendment Effective Date, provided that (i) both at the time of any such request and upon
the effectiveness of any Incremental Amendment referred to below, no Default or Event of Default shall exist, (ii) both at the time of any such request and upon the effectiveness of any Incremental Amendment referred to below, all of the
representations and warranties of each Loan Party set forth in Article V and in each other Loan Document shall be true and correct in all material respects as of such time (except to the extent such representations and warranties expressly
relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date), and (iii) subject to compliance with the provisions set forth in the preceding clauses (i) and (ii), the Borrower
may obtain additional Revolving Commitment Increases so long as the First Lien Net Leverage Ratio, determined on a Pro Forma Basis as of the date of the then most recently ended Test Period, in each case, as if such Revolving Commitment Increases
were fully utilized and Revolving Loans available pursuant thereto had been outstanding on the last day of such Test Period, and without netting cash received from Borrowings under such Revolving Commitment Increases when calculating the First Lien
Net Leverage Ratio, shall not exceed 2.25:1.00. 
 (b) [Reserved]. 

(c) Each Revolving Commitment Increase shall be in an aggregate principal amount that is not less than $5,000,000 and shall be in an increment
of $1,000,000 (provided that such amount may be less if such amount represents all remaining availability under the limit set forth in the first sentence of Section 2.16(a)). 

(d) Each notice from the Borrower pursuant to this Section 2.16 shall set forth the requested amount and proposed terms of the
relevant Revolving Commitment Increases. Revolving Commitment Increases may be provided, by any existing Lender (but no existing Lender will have an obligation to make a portion of any Revolving Commitment Increase) or by any other bank or other
financial institution (any such other bank or other financial institution being called an “Additional Lender”), provided that the Administrative Agent shall have consented (not to be unreasonably withheld) to such
Lender’s or Additional 

  
 26 

 
Lender’s providing such Revolving Commitment Increases if such consent would be required under Section 10.07(b) for an assignment of Revolving Credit Commitments to such Lender
or Additional Lender. Commitments in respect Revolving Commitment Increases shall become Commitments (or in the case of a Revolving Commitment Increase to be provided by an existing Revolving Credit Lender, an increase in such Lender’s
applicable Revolving Credit Commitment) under this Agreement pursuant to an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, each Lender agreeing to
provide such Commitment, if any, each Additional Lender, if any, and the Administrative Agent. The Incremental Amendment may, without the consent of Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary
or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.16. The effectiveness of any Incremental Amendment shall be subject to the satisfaction on the date
thereof (each, an “Incremental Facility Closing Date”) of each of the conditions set forth in Section 4.02 (it being understood that all references to “the date of such Credit Extension” or similar language in
such Section 4.02 shall be deemed to refer to the effective date of such Incremental Amendment) and such other conditions as the parties thereto shall agree. The Borrower will use the proceeds of the Revolving Commitment Increases for
any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Revolving Commitment Increases unless it so agrees. 

(e) Upon each increase in the Revolving Credit Commitments pursuant to this Section 2.16, (a) each Revolving Credit Lender
immediately prior to such increase will automatically and without further act be deemed to have assigned to each Lender providing a portion of the Revolving Commitment Increase (each a “Revolving Commitment Increase Lender”), and
each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender’s participations hereunder in outstanding Letters of Credit and Swing Line Loans such
that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii) participations hereunder in Swing Line Loans
held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit
Lender’s Revolving Credit Commitment and (b) if, on the date of such increase, there are any Revolving Credit Loans under the applicable Facility outstanding, such Revolving Credit Loans shall on or prior to the effectiveness of such
Revolving Commitment Increase be prepaid from the proceeds of additional Revolving Credit Loans made hereunder (reflecting such increase in Revolving Credit Commitments), which prepayment shall be accompanied by accrued interest on the Revolving
Credit Loans being prepaid and any costs incurred by any Lender in accordance with Section 3.05. The Administrative Agent and the 

  
 27 

 
Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant
to the immediately preceding sentence. 
 (f) This Section 2.16 shall supersede any provisions in Section 2.13 or
10.01 to the contrary.” 
 (m) Amendment to Section 3.02 (Illegality). Section 3.02 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “Section 3.02 Illegality. If any Lender determines that
any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund LIBO Rate Loans (whether denominated in Dollars or Euros), then, on notice
thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such Lender to make or continue LIBO Rate Loans in the affected currency or currencies shall be suspended until such Lender notifies the Administrative Agent
and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or (I) if
applicable and such Loans are denominated in Dollars, convert all of such Lender’s LIBO Rate Loans to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the
Administrative Agent without reference to the LIBO Rate component of the Base Rate) or (II) if applicable and such Loans are denominated in Euros, to the extent the applicable Borrower and all Appropriate Lenders agree, convert such Loans to Loans
bearing interest at an alternative rate mutually acceptable to the Borrower and all of the Appropriate Lenders, in each case, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBO Rate
Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBO Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the LIBO Rate, the
Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the LIBO Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no
longer illegal for such Lender to determine or charge interest rates based upon the LIBO Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and all amounts due, if any, in
connection with such prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender,
otherwise be materially disadvantageous to such Lender.”. 

  
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 (n) Amendment to Section 3.03 (Inability to Determine Rates).
Section 3.03 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Section 3.03
Inability to Determine Rates. If the Required Lenders determine that for any reason adequate and reasonable means do not exist for determining the applicable LIBO Rate for any requested Interest Period with respect to a proposed LIBO Rate
Loan, or that the LIBO Rate for any requested Interest Period with respect to a proposed LIBO Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, or that Dollar deposits or Euro deposits are not being
offered to banks in the London interbank eurodollar, or other applicable, market for the applicable amount and the Interest Period of such LIBO Rate Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the
obligation of the Lenders to make or maintain LIBO Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending
request for a Borrowing of, conversion to or continuation of such LIBO Rate Loans or, failing that, will be deemed to have converted such request, if applicable, into a request for a Borrowing of Base Rate Loans in the amount specified therein (or,
in the case of a pending request for a Loan denominated in Euros, the Borrower and the Lenders may establish a mutually acceptable alternative rate).”. 

(o) Amendment to Section 3.04 (Increased Cost and Reduced Return; Capital Adequacy; Reserves on LIBO Rate Loans).
Section 3.04 of the Credit Agreement is hereby amended by (1) inserting a new clause (c) as follows: 
 “(c) If
any Lender reasonably determines that as a result of the introduction of or any change in or in the interpretation of any Law, in each case after the date hereof, or such Lender’s compliance therewith, the Mandatory Cost would fail, as
calculated hereunder, to represent the cost to any Lender of complying with the requirements of the Financial Services Authority or the European Central Bank in relation to its making, funding or maintaining LIBO Rate Loans, then within 15 days
after demand of such Lender setting forth in reasonable detail the amount of any shortfall in compensation as a result of such failure (with a copy of such demand to the Administrative Agent given in accordance with Section 3.05), the
Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such shortfall in compensation.”; 
 (2) re-lettering
existing clauses (c), (d) and (e) in Section 3.04 as clauses (d), (e) and (f), respectively, and (3) inserting the following new clause (g) at the end of such Section: 

“(g) For purposes of this Section 3.04, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, regulations, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on
Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall, in each case, be deemed to have gone into effect after the date hereof, regardless of the
date enacted, adopted or issued.”. 

  
 29 

 (p) Amendment to Section 3.05 (Funding Losses). Section 3.05 of the
Credit Agreement is hereby amended by restating the last paragraph thereof in its entirety as follows: 
 “including foreign exchange
losses and any loss or expense (excluding loss of anticipated profits) arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained, or
from the performance of any foreign exchange contract (but excluding anticipated profits).”. 
 (q) Amendment to Section 6.14
(Further Assurances and Post-Closing Conditions). Section 6.14(a) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(a) (i) No later than the date specified for such requirement set forth in Schedule 6.14 (subject to extension by the
Administrative Agent in its reasonable discretion), each of the Loan Parties and each Restricted Subsidiary that is not an Excluded Subsidiary shall deliver each Collateral Document set forth therein and, if applicable, a Guarantor Joinder, each
duly executed by each such Person, together with all documents and instruments required to perfect the security interest of the Administrative Agent in the Collateral (if any) free of any other pledges, security interests or mortgages, except Liens
permitted hereunder and, if applicable, to issue the Guaranty, to the extent required pursuant to the Collateral and Guarantee Requirement (including payment of all taxes and duties), (ii) no later than the date specified for such requirement
set forth in Schedule 6.14(a)(ii) (subject to extension by the Administrative Agent in its reasonable discretion), each of the Loan Parties, as applicable, shall deliver the Collateral Documents or other documents, instruments or agreements
set forth therein, (iii) no later than the date specified for such requirement set forth in Schedule 6.14(a)(iii) (subject to extension by the Administrative Agent in its reasonable discretion), each of the Loan Parties, as applicable,
shall deliver the Collateral Documents or other documents, instruments or agreements set forth therein and (iv) no later than the date specified for such requirement set forth in Schedule 6.14(a)(iv) (subject to extension by the
Administrative Agent in its reasonable discretion), each of the Loan Parties, as applicable, shall deliver the Collateral Documents or other documents, instruments or agreements set forth therein.”. 

(r) Amendment to Section 6.15 (Designation of Subsidiaries). Section 6.15 of the Credit Agreement is hereby amended by
restating clause (ii) of the proviso of such Section as follows: 
 “(ii) immediately after giving effect to such designation,
Holdings shall be in compliance, on a Pro Forma Basis, with the covenants set forth in Section 7.11 (whether or not such covenants are applicable at such time in accordance with their terms)”. 

(s) Amendments to Section 7.01 (Liens). 

  
 30 

 (i) Section 7.01(dd) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(dd) (i) Liens created under any Permitted Refinancing Notes Documents on Collateral
securing Permitted Refinancing Notes that constitute First Lien Obligations permitted to be incurred under Section 7.03(t); provided that holders of such Indebtedness (or the First Lien Notes Representative) and the Collateral
Agent shall have executed and delivered a First Lien Intercreditor Agreement (or, in the case of the 2013 Senior Secured Notes, the 2013 Intercreditor Agreement) and (ii) Liens created under any Permitted Refinancing Notes Documents on
Collateral securing Permitted Refinancing Notes that constitute Second Lien Obligations permitted to be incurred under Section 7.03(t); provided that holders of such Indebtedness (or the respective Second Lien Notes
Representative) and the Collateral Agent shall have executed and delivered a Second Lien Intercreditor Agreement;”. 

(ii) Section 7.01(ee) of the Credit Agreement is hereby amended by deleting the text “and” appearing at
the end thereof. 
 (iii) Section 7.01(ff) of the Credit Agreement is hereby amended by (1) deleting the
period (“.”) and (2) inserting the text “; and” at the end thereof. 
 (iv) Section 7.01
of the Credit Agreement is hereby amended by inserting a new clause (gg) as follows: 
 “(gg) Liens incurred to secure obligations in
respect of any Indebtedness permitted to be incurred pursuant to Section 7.03(v); provided that (i) with respect to liens securing obligations permitted under this clause, at the time of incurrence and after giving pro forma
effect thereto, the Consolidated Secured Leverage Ratio calculated on a Pro Forma Basis would be no greater than in the case of (x) any such Indebtedness incurred on or prior to August 1, 2015, 4.25:1.00 and (y) any such Indebtedness
incurred thereafter, 3.75:1.00; and (ii) such Indebtedness is secured only by assets comprising Collateral on either a pari passu or junior basis relative to the Liens on such Collateral securing the Obligations of the Loan Parties and except
as otherwise consented to by the Administrative Agent in writing (x) to the extent Liens securing any such Indebtedness are intended to be pari passu with the Lien of the Secured Parties securing the Obligations, the holders of such
Indebtedness (or a representative thereof) shall have executed and delivered a First Lien Intercreditor Agreement and (y) to the extent Liens securing any such Indebtedness are intended to rank junior to the Lien of the Secured Parties securing
the Obligations, the holders of such Indebtedness (or a representative thereof) shall have executed and delivered a Second Lien Intercreditor Agreement.”. 

(v) Amendments to Section 7.02 (Investments). 

  
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 (vi) Section 7.02(c) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(c) Investments (i) by Holdings in the Borrower, Styron Investment Holdings Ireland,
Styron Materials Ireland and any Intermediate Holding Company, (ii) by the Borrower or any Restricted Subsidiary in any Loan Party (other than a Parent Guarantor), (iii) by any Restricted Subsidiary that is not a Loan Party in any other
Restricted Subsidiary that is not a Loan Party and (iv) as of the Fifth Amendment Effective Date, as set forth on Schedule 7.02(c);”. 

(vii) Section 7.02(i) of the Credit Agreement is hereby amended by restating clause (iii) of such Section as
follows: 
 “(iii) Holdings and the Restricted Subsidiaries shall be in Pro Forma Compliance with the covenant set forth in
Section 7.11 (whether or not such covenants are applicable at such time in accordance with their terms) after giving effect to such acquisition or investment and any related transactions (assuming for such purpose that the ratios set
forth in Section 7.11 were 0.25x lower than the then-applicable ratio set forth in Section 7.11 (whether or not such covenants are applicable at such time in accordance with their terms));”. 

(viii) Section 7.02(t) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(t) other Investments (including for Permitted Acquisitions pursuant to Section 7.02(i)(vii)) in an aggregate amount not to
exceed (i) $100,000,000; plus, (ii) if the First Lien Net Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 3.00 to 1.00, the portion, if any, of the Cumulative Credit on such date that the Borrower elects to
apply to this paragraph, such election to be specified a written notice of a Responsible Officer of the Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be
so applied; provided, that with respect to any Investment made pursuant to clause (ii) above, no Default has occurred and is continuing or would result therefrom; plus (iii) the portion of contributions by the Investors to
the common equity capital of the Borrower received by the Borrower in cash after the Closing Date and not otherwise used pursuant to Section 7.13(a)(iv) that the Borrower elects to apply to this paragraph, such election to be specified
in a written notice of a Responsible Officer of the Borrower setting forth in reasonable detail the amount thereof elected to be so applied; or”. 

(ix) Section 7.02(u) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(u) (i) Investments in joint ventures constituting or consisting of a contribution of or other transfer or distribution of assets
(other than cash) to such joint venture in an aggregate amount during the term of this Agreement not to exceed 20% of Total Assets at the time any Investment is made pursuant to this clause (u); provided that at the time of each such
Investment, the Total Leverage Ratio, calculated on a Pro Forma Basis for the Test Period most recently ended, shall be less than the Total 

  
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Leverage Ratio, calculated without giving Pro Forma Effect to such Investment, for such Test Period; provided, further, that the amount of Investments made pursuant to this clause
(u) shall be calculated net of cash received by Holdings or a Restricted Subsidiary from the respective joint venture or third party joint venture partners in consideration for such Investment; and (ii) Investments consisting of licensing
of intellectual property or contributions of know-how to joint ventures, in each case on a non-exclusive basis.”. 
 (t) Amendments
to Section 7.03 (Indebtedness). 
 (i) Section 7.03(g) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(g) Indebtedness of any Restricted Subsidiary (i) assumed in connection with any
Permitted Acquisition and not otherwise permitted by another clause of this Section 7.03, provided, that such Indebtedness is not incurred in contemplation of such Permitted Acquisition, and any Permitted Refinancing thereof or
(ii) incurred to finance a Permitted Acquisition and any Permitted Refinancing thereof; provided that, (w) in the case of clauses (i) and (ii), such Indebtedness and all Indebtedness resulting from a Permitted Refinancing
thereof is unsecured (except for Liens permitted by Section 7.01(x) securing Indebtedness (together with Permitted Refinancings thereof) in an aggregate principal amount outstanding not to exceed $50,000,000) and Liens permitted by
Section 7.01(ff), (x) in the case of clauses (i) and (ii), both immediately prior and after giving effect thereto, (1) no Default shall exist or result therefrom (other than, except in the case of an Event of Default under
Section 8.01(a), in respect of any Permitted Acquisition made pursuant to a legally binding commitment entered into at a time when no Default exists or would result therefrom), and (2) either (a) the Fixed Charge Coverage Ratio
calculated on a Pro Forma Basis is at least 2.00:1.00 or (b) the Fixed Charge Coverage Ratio of Holdings and the Restricted Subsidiaries, after giving pro forma effect to the assumption or incurrence of such Indebtedness, would not be lower
than immediately prior thereto and, in each case, Holdings and the Restricted Subsidiaries will be in Pro Forma Compliance with the covenants set forth in Section 7.11 (whether or not such covenants are applicable at such time in
accordance with their terms) and (y) in the case of any such incurred Indebtedness under clause (ii), such Indebtedness matures after, and does not require any scheduled amortization or other scheduled payments of principal prior to, the
Maturity Date;”. 
 (ii) Section 7.03(o) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(o) [Reserved];”. 

  
 33 

 (iii) Section 7.03(r) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(r) (i) Indebtedness of Holdings and its Restricted Subsidiaries constituting foreign
working capital facilities in an aggregate principal amount not to exceed $75,000,000 at any time outstanding and (ii) Indebtedness of Restricted Subsidiaries organized under the laws of the People’s Republic of China, Indonesia, Taiwan or
the Republic of Korea constituting working capital facilities in an aggregate principal amount, for all such entities collectively, not to exceed $25,000,000 at any time outstanding;”. 

(iv) Section 7.03(t) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(t) Permitted Refinancing Notes of the Borrower incurred under Permitted Refinancing Notes Documents so long as (i) all such
Indebtedness is incurred in accordance with the requirements of the definition of Permitted Refinancing Notes, (ii) no Default then exists or would result therefrom, (iii) such Permitted Refining Notes are utilized solely to repay Term
Loans and pay out of pocket transaction expenses incurred in connection therewith and the Net Proceeds therefrom shall be used to repay the Term Loans pursuant to Section 2.05(b)(iii), (iv) calculations are made by the Borrower
demonstrating Pro Forma Compliance with the covenants set forth in Section 7.11 (whether or not such covenants are applicable at such time in accordance with their terms) and (v) the Borrower shall have furnished to the
Administrative Agent a certificate from a Responsible Officer certifying as to compliance with the requirements of preceding clauses (i), (ii), (iii) and (iv) and containing the calculations required by preceding clause (iv) for
issuance of all such Indebtedness;”. 
 (v) Section 7.03 of the Credit Agreement is hereby further amended
by inserting a new clause (v) as follows: 
 “(v) Indebtedness of the Borrower and each Guarantor if, on the date of such
incurrence and after giving pro forma effect thereto (including pro forma application of the proceeds thereof), the Fixed Charge Coverage Ratio calculated on a Pro Forma Basis is greater than 2.00:1.00; and”. 

(vi) Section 7.03 of the Credit Agreement is hereby further amended by (1) re-lettering existing clause
(v) thereof as clause (w) and (2) restating such clause as follows: 
 “(w) all premiums (if any), interest (including
post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in clauses (a) through (v) above.”. 

(u) Amendment to Section 7.05. Section 7.05(n) of the Credit Agreement is hereby amended and restated in its entirety
as follows: 
 “(n) Dispositions of property not otherwise permitted under this Section 7.05; provided that
(i) at the time of such Disposition no Default shall exist or would result from such Disposition (other than, except in 

  
 34 

 
the case of an Event of Default under Section 8.01(a), any such Disposition made pursuant to a legally binding commitment entered into at a time when no Default exists),
(ii) with respect to any Disposition pursuant to this clause (n) for a purchase price in excess of $5,000,000, the Borrower or any of its Restricted Subsidiaries shall receive not less than 75% of such consideration in the form of cash or
Cash Equivalents (in each case, free and clear of all Liens at the time received, other than nonconsensual Liens; provided, however, that for the purposes of this clause (n)(ii), the following shall be deemed to be cash: (A) any
liabilities (as shown on Holdings most recent balance sheet provided hereunder or in the footnotes thereto) of the Borrower or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the payment in cash of the
Obligations, that are assumed by the transferee with respect to the applicable Disposition and for which the Borrower and all of its Restricted Subsidiaries shall have been validly released by all applicable creditors in writing, and (B) any
securities received by the Borrower or the applicable Restricted Subsidiary from such transferee that are converted by the Borrower or such Restricted Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received)
within 180 days following the closing of the applicable Disposition, (iii) each such sale is an arm’s-length transaction and the Borrower or the respective Restricted Subsidiary receives at least fair market value and (iv) the
Revolving Credit Commitments are terminated as (and to the extent) required by Section 2.06(b);”. 
 (v) Amendment to
Section 7.06. Section 7.06(i) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(i) (A) after a Qualified IPO, (i) any Restricted Payment by the Borrower or any other direct or indirect parent of the
Borrower to pay listing fees and other costs and expenses attributable to being a publicly traded company and (ii) Restricted Payments of up to 6% per annum of the net proceeds received by (or contributed to) Holdings and its Restricted
Subsidiaries from such Qualified IPO; and (B) other Restricted Payments (i) in an aggregate amount not to exceed $50,000,000; plus (ii) if the Consolidated Secured Leverage Ratio calculated on a Pro Forma Basis is less than
3.50 to 1.00, in an additional amount not to exceed the portion, if any, of the Cumulative Credit on such date that the Borrower elects to apply to this paragraph, such election to be specified a written notice of a Responsible Officer of the
Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied; provided, that with respect to any Restricted Payment made pursuant to clause
(B)(ii) above, no Default has occurred and is continuing or would result therefrom; and;”. 
 (w) Amendment to Section 7.10
(Capital Expenditures). Section 7.10 of the Credit Agreement is hereby amended and restated in its entirety as follows: “Section 7.10 [Reserved]”. 

(x) Amendments to Section 7.11 (Financial Covenants). 

  
 35 

 (i) Section 7.11(a) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(a) First Lien Net Leverage Ratio. Except with the written consent of the Required
Revolving Credit Lenders, Holdings shall not permit the First Lien Net Leverage Ratio on the last day of any fiscal quarter set forth below to be greater than the ratio set forth below opposite such fiscal quarter if, as of such date, the aggregate
Dollar Amount of Swing Line Loans, Revolving Credit Loans and L/C Obligations (excluding L/C Obligations relating to (x) Letters of Credit that have been Cash Collateralized in a manner satisfactory to the Administrative Agent and
(y) Letters of Credit having an aggregate undrawn Dollar Amount not greater than $10,000,000) were outstanding at any one time in an amount greater than 25.00% of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders (it
being understood that in all cases calculation of compliance with this Section 7.11(a) shall be determined as of the last day of each fiscal quarter set forth below): 

 

					
	 Fiscal Quarter Ending
	  	Maximum First Lien Net
Leverage Ratio	 
	 June 30, 2012
	  	 	5.25:1.00	  
	 September 30, 2012
	  	 	5.25:1.00	  
	 December 31, 2012
	  	 	5.25:1.00	  
	 March 31, 2013
	  	 	5.25:1.00	  
	 June 30, 2013
	  	 	5.00:1.00	  
	 September 30, 2013
	  	 	5.00:1.00	  
	 December 31, 2013
	  	 	5.00:1.00	  
	 March 31, 2014
	  	 	4.50:1.00	  
	 June 30, 2014
	  	 	4.50:1.00	  
	 September 30, 2014
	  	 	4.50:1.00	  
	 December 31, 2014
	  	 	4.50:1.00	  
	 March 31, 2015 and thereafter
	  	 	4.25:1.00	  

 (ii) Section 7.11(b) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(b) [Reserved]”. 

(y) Amendment to Section 7.13 (Prepayments, Etc. of Indebtedness). Section 7.13(a) of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “(a) Holdings shall not, nor shall Holdings permit any of its Restricted
Subsidiaries to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of regularly 

  
 36 

 
scheduled interest and AHYDO Payments shall be permitted) (x) any Indebtedness incurred under Section 7.03(g), (s) or (t) that is subordinated in right of
payment or lien priority (in each case, other than the 2013 Senior Secured Notes), or (y) any other Indebtedness that is required to be subordinated to the Obligations in right of payment or lien priority (in each case, other than the 2013
Senior Secured Notes) pursuant to the terms of the Loan Documents (all Indebtedness described under (x), (y) and (z), collectively, “Junior Financing”) or make any payment in violation of any subordination terms of any Junior
Financing Documentation, except (i) the refinancing thereof with the Net Proceeds of any Indebtedness (to the extent such Indebtedness constitutes a Permitted Refinancing and, if such Indebtedness was originally incurred under
Section 7.03(g), is permitted pursuant to Section 7.03(g)), to the extent not required to prepay any Loans pursuant to Section 2.05(b), (ii) the conversion of any Junior Financing to Equity Interests (other
than Disqualified Equity Interests) of Holdings or any of its direct or indirect parent companies, (iii) the prepayment of Indebtedness of the Borrower or any Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary to the
extent not prohibited by the subordination provisions contained in the Intercompany Note, (iv) the prepayment of Junior Financing from, direct or indirect, contributions by the Investors to the common equity capital of the Borrower received by
the Borrower in cash after the Closing Date, (v) prepayments or purchases of Junior Financings with Declined Proceeds to the extent such prepayments or purchases are required pursuant to the Junior Financing Documentation evidencing such Junior
Financing and (vi) so long as the First Lien Net Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 3.00 to 1.00, in each case after giving effect thereto, repayments, redemptions, purchases, defeasances and other payments
in respect of Junior Financings prior to their scheduled maturity in an aggregate amount not to exceed the Cumulative Credit on such date that the Borrower elects to apply pursuant to this clause (vi), such election to be specified in a written
notice of a Responsible Officer of the Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied.”. 

(z) Amendment to Section 7.21 (Covenants with Respect to Trinseo Materials Finance). Section 7.21 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “Section 7.21 Covenants with Respect to Trinseo Materials
Finance. Notwithstanding anything herein to the contrary, at all times that the 2013 Senior Secured Notes (or any other Indebtedness issued or co-issued by Trinseo Materials Finance) remain outstanding and Trinseo Materials Finance is a
co-issuer or issuer thereof, Trinseo Materials Finance (a) shall be a Restricted Subsidiary hereunder, (b) shall not, at any time, own any assets (including cash, bank accounts or any other property), (c) shall not at any time,
establish, create or acquire any Subsidiary or otherwise own the capital stock or any Person, or (d) shall not, without the prior written consent of the Required Lenders, amend, modify or change Article Three or Article Eleven of its
certificate of incorporation.”. 

  
 37 

 (aa) Amendments to Section 8.01 (Events of Default). 

(i) Section 8.01(a) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(a) Non-Payment. Any Loan Party fails to pay in the currency required hereunder (i) when and as required to be paid herein,
any amount of principal of any Loan, or (ii) within three (3) Business Days after the same becomes due, any interest on any Loan or any other amount payable hereunder or with respect to any other Loan Document; or”. 

(ii) Section 8.01(b) of the Credit Agreement is hereby amended by deleting the text “or” appearing at the
end of such Section and inserting the following text in lieu thereof: 
 “provided, further, that an Event of Default
under this clause (b) with respect to a failure by Holdings to be in compliance with Section 7.11 shall not constitute an Event of Default for purposes of any Term Loan unless and until the Required Revolving Credit Lenders have
actually declared all such obligations to be immediately due and payable in accordance with this Agreement and such declaration has not been rescinded on or before such date; or”. 

(bb) Amendment to Section 8.02 (Remedies Upon Event of Default). Section 8.02 of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “Section 8.02 Remedies Upon Event of Default. (a) If any Event of Default occurs
and is continuing (other than an Event of Default under Section 8.01(b) with respect to a failure of Holdings to be in compliance with Section 7.11 unless, in such case, the conditions of the second proviso contained in
Section 8.01(b) have been satisfied), the Administrative Agent may and, at the request of the Required Lenders, shall take any or all of the following actions: 

(i) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions to
be terminated, whereupon such commitments and obligation shall be terminated; 
 (ii) declare the unpaid principal amount of
all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind,
all of which are hereby expressly waived by the Borrower; 

  
 38 

 (iii) require that the Borrower Cash Collateralize the L/C Obligations (in an
amount equal to the then Outstanding Amount thereof); and 
 (iv) exercise on behalf of itself and the Lenders all rights
and remedies available to it and the Lenders under the Loan Documents or applicable Law; and 
 (b) subject to the first
proviso in Section 8.01(b), if any Event of Default under Section 8.01(b) occurs with respect to a failure of Holdings to be in compliance with Section 7.11 and is continuing, the Administrative Agent may and, at
the request of the Required Revolving Credit Lenders, shall take any or all of the following actions: 
 (i) declare the
Revolving Credit Commitment of each Revolving Credit Lender to make Revolving Credit Loans and Swing Line Loans and any obligation of the L/C Issuer to issue Letters of Credit to be terminated, whereupon such commitments and obligation shall be
terminated; 
 (ii) declare the unpaid principal amount of all outstanding Revolving Credit Loans and Swing Line Loans, all
interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document under or in respect of the Facility pursuant to which Revolving Credit Loans are made to be immediately due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; 
 (iii)
require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 

(iv) exercise on behalf of itself and the Revolving Credit Lenders all rights and remedies available to it and the Lenders
under the Loan Documents or applicable Law; 
 provided that upon the occurrence of an actual or deemed entry of an order for relief
with respect to Borrower under the Bankruptcy Code, the obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans
and all interest and other amounts as aforesaid shall automatically become due and payable and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further
act of the Administrative Agent or any Lender.”. 

  
 39 

 (cc) Amendment to Section 8.04 (Application of Funds). Section 8.04 of
the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Section 8.04 Application of Funds. After the
exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to
Section 8.02), any amounts received on account of the Obligations (whether received as a consequence of the exercise of such remedies or a distribution out of any proceeding in respect of or commenced under any proceeding under any
Debtor Relief Law including payments in respect of “adequate protection” for the use of Collateral during such proceeding or under any plan of reorganization or on account of any liquidation of any Loan Party) shall be applied by the
Administrative Agent in the following order (to the fullest extent permitted by mandatory provisions of applicable Law): 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other
than principal and interest, but including Attorney Costs payable under Section 10.04 and amounts payable under Article III) payable to the Administrative Agent or the Collateral Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than
principal and interest) payable to the Revolving Credit Lenders, Swing Line Lender and L/C Issuer (including Attorney Costs payable under Section 10.04 and amounts payable under Article III), ratably among them in proportion to
the amounts described in this clause Second payable to them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any proceeding under any Debtor Relief Law); 

Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Revolving Credit
Loans and L/C Borrowings, and any fees, premiums and scheduled periodic payments due under Secured Hedge Agreements and Treasury Services Agreements, ratably among the applicable Secured Parties in proportion to the respective amounts described in
this clause Third payable to them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any proceeding under any Debtor Relief Law); 

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Revolving Credit Loans and
L/C Borrowings (including to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit), and any breakage, termination or other payments under Secured Hedge Agreements and Treasury Services
Agreements, ratably among the applicable Secured Parties in proportion to the respective amounts described in this clause Fourth held by them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any
proceeding under any Debtor Relief Law); 

  
 40 

 Fifth, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal and interest) payable to any other Lenders (including Attorney Costs payable under Section 10.04 and amounts payable under Article III), ratably among them in proportion to the
amounts described in this clause Fifth payable to them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any proceeding under any Debtor Relief Law); 

Sixth, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Term Loans,
ratably among the Term Lenders in proportion to the respective amounts described in this clause Sixth payable to them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any proceeding under any
Debtor Relief Law); 
 Seventh, to payment of that portion of the Obligations constituting unpaid principal of the
Term Loans, ratably among the Term Lenders in proportion to the respective amounts described in this clause Seventh held by them (irrespective of when such amounts were incurred or accrued or whether any such amounts are allowed in any proceeding
under any Debtor Relief Law); 
 Eighth, to the payment of all other Obligations of the Borrower that are due and
payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date; and 

Last, the balance, if any, after all of the Obligations have been paid in full, to the Borrower or as otherwise
required by Law. 
 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of
Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such
remaining amount shall be applied to the other Obligations, if any, in the order set forth above and, if no Obligations remain outstanding, to the Borrower as applicable. 

The parties to each Loan Document (including each Loan Party) irrevocably agree that the provisions of this Section 8.04
constitute a 

  
 41 

 
“subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code, and the terms hereof will survive, and will continue in full force and
effect and be binding upon each of the parties hereto, in any proceeding under any Debtor Relief Law.”. 
 (dd) Amendment to
Section 9.01 (Appointment and Authorization of Agents). Section 9.01(c) of the Credit Agreement is hereby amended by adding the following sentence at the end of such Section: 

“Each of the Secured Parties hereby further irrevocably appoints and authorizes the Collateral Agent to execute the 2013 Intercreditor
Agreement, any other First Lien Intercreditor Agreement and any Second Lien Intercreditor Agreement and to take such actions on their behalf as specified therein.”. 

(ee) Amendment to Section 9.11 (Amendments, Etc.). Section 9.11(d) of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “(d) to enter into the First Lien Intercreditor Agreement and/or a Second Lien Intercreditor
Agreement, as the case may be, upon the incurrence of any Permitted Refinancing Notes incurred pursuant to Section 7.03(t) and permitted to be secured pursuant to Section 7.01(dd)(i) or (ii), as applicable; provided
that the Borrower shall have provided, and the Administrative Agent and the Collateral Agent shall be entitled to rely upon, an officer’s certificate by a Responsible Officer to the effect that such Permitted Refinancing Notes are permitted to
be incurred under Section 7.03(t) and permitted to be secured pursuant to Section 7.01(dd)(i) or (ii), as applicable.”. 

(ff) Amendments to Section 10.01 (Amendments, Etc.). 

(i) Section 10.01(b) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(b) postpone any date scheduled for, or reduce or forgive the amount of, any payment of principal or interest under
Section 2.07 or 2.08 without the written consent of each Lender holding the applicable Obligation (it being understood that the waiver of (or amendment to the terms of) any mandatory prepayment of the Term Loans shall not
constitute a postponement of any date scheduled for the payment of principal or interest and it being understood that any change to the definition of “First Lien Net Leverage Ratio” or in the component definitions thereof shall not
constitute a reduction or forgiveness in any rate of interest);”. 
 (ii) Section 10.01(c) of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “(c) reduce or forgive the principal of, or the rate of
interest specified herein on, any Loan, or L/C Borrowing, or (subject to clause (iii) of the second proviso to this Section 10.01) any fees or other amounts payable 

  
 42 

 
hereunder or under any other Loan Document (or change the timing of payments of such fees or other amounts) without the written consent of each Lender holding such Loan, L/C Borrowing or to whom
such fee or other amount is owed (it being understood that any change to the definition of “First Lien Net Leverage Ratio” or in the component definitions thereof shall not constitute a reduction or forgiveness in any rate of
interest); provided that, only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate;”. 

(iii) Section 10.01(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(d) change any provision of this Section 10.01, the definition of “Required Lenders,” “Required
Class Lenders,” “Required Revolving Credit Lenders” or “Pro Rata Share,” Section 2.12(a), 2.12(g), 2.13 or 8.04 (or the equivalent provisions of the 2013 Intercreditor Agreement or
any First Lien Intercreditor Agreement or Second Lien Intercreditor Agreement) without the written consent of each Lender or of Section 2.06(c) without the written consent of each Lender directly affected thereby;”. 

(iv) Section 10.01(g) of the Credit Agreement is hereby amended by deleting the text “or” appearing at
the end of such clause. 
 (v) Section 10.01(h) of the Credit Agreement is hereby amended by inserting the text
“or” at the end of such clause. 
 (vi) Section 10.01 of the Credit Agreement is hereby further amended
by inserting a new clause (i) as follows: 
 “(i) change the currency in which any Loan is denominated without the written consent
of the Lender holding such Loans;”. 
 (vii) Section 10.01 is hereby further amended by (1) deleting
the text “and” appearing immediately before clause (iv) in the proviso following Section 10.01(h) and (2) inserting the following new text immediately before the period at the end of such proviso: 

“; and (v) only the consent of the Required Revolving Credit Lenders shall be necessary to amend or waive the terms and provisions
of Section 7.11(a), the second proviso to Section 8.01(b) and Section 8.02(b) (and related definitions used in such Sections, but not as used in other Sections of this Agreement) and no such amendment or waiver of
any such terms or provisions (and related definitions as used in such Sections, but not as used in other Sections of this Agreement) shall be permitted without the consent of the Required Revolving Credit Lenders”. 

  
 43 

 (viii) Section 10.01 of the Credit Agreement is hereby further
amended by restating the penultimate paragraph thereof in its entirety as follows: 
 “Notwithstanding anything to the contrary
contained in this Section 10.01, Holdings, the Borrower and the Administrative Agent may without the input or consent of the Lenders, effect amendments to this Agreement and the other Loan Documents as may be necessary or appropriate in the
reasonable opinion of the Administrative Agent to (i) effect the provisions of Section 2.16 or 2.17 or (ii) add Styron Finance Luxembourg S.à r.l. as a second borrower hereunder and under the other Loan Documents
subject, in the case of this clause (ii), to the Administrative Agent’s prior satisfaction that all requirements reasonably necessary to add a second borrower have been completed, such requirements to be consistent with the provisions of
Section 4.01.”. 
 (gg) Amendments to Section 10.23 (Australian Personal Property Securities Act).
Section 10.23 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Section 10.23
Australian Personal Property Securities Act. 
 (a) If the Administrative Agent determines that a Loan Document (or a
transaction in connection with it) is or contains a security interest for the purposes of the Australian PPS Law, the Loan Parties agree to do anything (such as obtaining consents, signing and producing documents, completing documents, arranging for
documents to be completed and signed and supplying information) which the Administrative Agent asks and considers necessary for the purpose of: 

(i) ensuring that the security interest is enforceable, perfected and otherwise effective; 

(ii) enabling the Administrative Agent to apply for any registration, or give any notification, in connection with the
security interest so that the security interest has the priority required by the Administrative Agent and the Lenders; and 

(iii) enabling the Administrative Agent to exercise rights in connection with the security interest. 

(b) The Administrative Agent need not give any notice under the Australian PPS Law (including a notice of a verification
statement) unless the notice is required by the Australian PPS Law and cannot be excluded. 
 (c) If a Loan Party holds any
security interest for the purposes of the Australian PPS Law and if failure to perfect the security interest would materially adversely affect the Loan Party’s business, the Loan Party agrees to implement, maintain and comply in all material
respects with, procedures for the perfection of those security interests. These procedures must include procedures designed to ensure that all reasonable steps under the Australian PPS Law to continuously perfect those security interests including
all steps reasonably necessary: 
 (i) to obtain, the highest ranking priority possible in respect of the security interest
(such as perfecting a purchase money security interest or perfecting a security interest by control); and 

  
 44 

 (ii) to reduce as far as possible the risk of a third party acquiring an
interest free of the security (such as including the serial number in a financing statement for personal property that may or must be described by a serial number). 

If the Administrative Agent requests, then the Loan Party must arrange at its expense an audit of its Australian PPS Law procedures. The
Administrative Agent may request the Loan Party to do this if it reasonably suspects that a Loan Party is not complying with this section.” 

(hh) Amendments to Schedules and Exhibits. 

(i) A new Schedule 1.01C (Mandatory Cost), attached hereto as Exhibit A, is hereby added to the Credit Agreement.

 (ii) A new Schedule 6.14(a)(iv) (Fifth Amendment Post-Closing Requirements), attached hereto as Exhibit B,
is hereby added to the Credit Agreement. 
 (iii) A new Schedule 7.02(c) (Intercompany Investments), attached hereto
as Exhibit C, is hereby added to the Credit Agreement. 
 (iv) Exhibit A (Committed Loan Notice) of the
Credit Agreement is hereby amended by replacing such Exhibit with Exhibit D hereto. 
 (v) Exhibit D
(Compliance Certificate) of the Credit Agreement is hereby amended by replacing such Exhibit with Exhibit E hereto. 
 SECTION
3. Revolving Commitment Increase Amendment to Credit Agreement. 
 (a) Subject to the effectiveness of the Secured Notes Consent and
the Refinancing Amendment in accordance with Sections 1 and 2, respectively, hereof, and further subject to the relevant conditions specified in Section 2.16 of the Credit Agreement and the satisfaction of the
conditions set forth in Section 6 hereof, each Revolving Commitment Increase Lender hereby agrees to make a Revolving Commitment Increase in the amount set forth opposite such Revolving Commitment Increase Lender’s name on
Schedule 1 hereto. 
 (b) Subject to the effectiveness of the Secured Notes Consent and the Refinancing Amendment in accordance
with Sections 1 and 2, respectively, hereof and the satisfaction of the conditions set forth in Section 6 hereof, upon the making of each Revolving Commitment Increase contemplated by Section 3(a) hereof,
the Credit Agreement is hereby amended by restating the portion of Schedule 1.01A of the Credit Agreement under the heading “Revolving Credit Commitment” as set forth in Schedule 1 hereto. Pursuant to
Section 2.16(e) of the Credit Agreement, each Revolving Credit Lender immediately prior to the making of the Revolving Commitment Increases will automatically and without further act be deemed to have assigned to each Revolving
Commitment Increase Lender and each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have 

  
 45 

 
assumed, a portion of such Revolving Credit Lender’s participations in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and
assumption of participations, the percentage of the aggregate outstanding (i) participations in Letters of Credit and (ii) participations in Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment
Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender’s Revolving Credit Commitment. In addition, Revolving Credit Loans outstanding
immediately prior to the effectiveness of the Revolving Commitment Increases shall on or prior to such effectiveness be prepaid from the proceeds of additional Revolving Credit Loans (reflecting such increase in Revolving Credit Commitments), which
prepayment shall be accompanied by accrued interest on the Revolving Credit Loans being prepaid and any costs incurred by any Lender in accordance with Section 3.05 of the Credit Agreement. The Administrative Agent and the Lenders hereby
agree that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence.

 SECTION 4. Conditions of Effectiveness of the Secured Notes Consent. Subject to Section 5(i) and
Section 7, the Secured Notes Consent, as set forth in Section 1, shall become effective on the date when the Administrative Agent shall have received (x) the duly executed signature page from the Required Lenders and the
Borrower, (y) the Offering Circular describing the offering of the 2013 Senior Secured Notes on terms reasonably acceptable to the Administrative Agent and (z) a certificate of a Responsible Officer of the Borrower, certifying that the
issuance of the 2013 Senior Secured Notes and the entering into of the Permitted Refinancing Notes Documents with respect thereto will not cause a Default or an Event of Default to occur under the Credit Agreement. 

SECTION 5. Conditions of Effectiveness of the Refinancing Amendment. Subject to Section 5(i) and Section 7, the
Refinancing Amendment, as set forth in Section 2, shall become effective immediately after the effectiveness of the Secured Notes Consent, as set forth in Section 4, when the following conditions shall have been satisfied
(the “Fifth Amendment Effective Date”): 
 (a) the Administrative Agent shall have received (i) the duly executed
signature page from each Consenting Lender and the Borrower, (ii) a Guarantor Consent and Reaffirmation, substantially in the form attached hereto as Annex A, duly executed and delivered by each Guarantor and (iii) the first lien
intercreditor agreement (the “2013 Intercreditor Agreement”), duly executed and delivered by the Borrower, each Guarantor and a representative for the 2013 Senior Secured Notes, which agreement shall provide, among other things, for
distributions in respect of the Collateral to be paid in respect of the Obligations until all amounts outstanding under the Revolving Credit Facility (including post-petition interest, if applicable) and all amounts owed to the Hedge Banks are paid
in full before any distributions are paid to the holders of First Lien Obligations; 
 (b) the Borrower shall have paid in full all fees and
reasonable out-of-pocket expenses (i) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Fifth Amendment required to be paid in connection with this Fifth Amendment and (ii) of
counsel to the Administrative Agent (including Attorneys Costs of White & Case LLP) in connection with this Fifth Amendment, the Credit Agreement and the other Loan Documents, in each case to the extent invoiced on or prior to the Fifth
Amendment Effective Date; 
 (c) the Borrower and Trinseo Materials Finance shall have issued the 2013 Senior Secured Notes in an aggregate
principal amount not to exceed $1,325,000,000 as described in the Offering Circular and on terms reasonably satisfactory to the Administrative Agent, and the Borrower shall have caused to be prepaid all outstanding Term Loans in full with the Net
Proceeds received therefrom; 

  
 46 

 (d) the Administrative Agent shall have received a certificate of a Responsible Officer of the
Borrower, certifying that (x) the conditions precedent set forth in Section 4.02 of the Credit Agreement have been satisfied on and as of the Fifth Amendment Effective Date and (y) the issuance of the 2013 Senior Secured Notes
and the entering into of the Permitted Refinancing Notes Documents with respect thereto will not cause a Default or an Event of Default to occur under the Credit Agreement; 

(e) the Administrative Agent shall have received a certificate, dated the Fifth Amendment Effective Date and signed by a financial officer of
the Borrower, certifying that the Borrower and its Restricted Subsidiaries, on a consolidated basis after giving effect to the issuance of the 2013 Senior Secured Notes and the Revolving Commitment Increase Amendment on the Fifth Amendment Effective
Date, are Solvent as of the Fifth Amendment Effective Date; 
 (f) the Administrative Agent shall have received from
(i) Kirkland & Ellis LLP, New York counsel to the Borrower, (ii) Loyens & Loeff, Luxembourg counsel to the Borrower and (iii) from each other local counsel for the Loan Parties or the Administrative Agent (as
applicable, determined by reference to customary practice in the applicable foreign jurisdictions), in each case, an opinion addressed to the Administrative Agent, the Collateral Agent and the Lenders and dated the Fifth Amendment Effective Date,
which opinion shall be in form and substance reasonably satisfactory to the Administrative Agent and its counsel; 
 (g) the Collateral
Agent, on behalf of the Secured Parties, shall have received from the Borrower, or the applicable Loan Party, Collateral Documents reflecting amendments, supplements, restatements, amendment and restatements or other modifications as the Collateral
Agent may reasonably request in order to carry out the purposes of the Collateral Documents, to the extent required by the Collateral and Guarantee Requirement; and 

(h) with respect to each existing Mortgage, the Collateral Agent, on behalf of the Secured Parties, shall have received from the Borrower or
the applicable Loan Party, to the extent requested by the Collateral Agent, 
 (i) a fully executed counterpart of an
amendment to such existing Mortgage (individually, a “Mortgage Amendment” and, collectively, “Mortgage Amendments”; together with the existing Mortgages, as amended by the applicable Mortgage Amendments, if any,
individually, an “Amended Mortgage” and, collectively, “Amended Mortgages”), each duly executed by the Borrower or the applicable Loan Party, as the case may be, together with evidence of completion (or satisfactory
arrangements for the completion) of all recordings and filings of each Mortgage Amendment as may be necessary to create, protect and preserve a valid, perfected Lien, subject only to the Liens permitted under each Amended Mortgage against the
applicable Mortgaged Property (as defined in each applicable existing Mortgage) purported to be covered thereby; 
 (ii) a
loan/mortgage modification endorsement and a date down endorsement in connection with each existing Mortgage Policy or a new Mortgage Policy, as applicable, which shall each be in form and substance reasonably satisfactory to the Collateral Agent
and shall reasonably assure the Collateral Agent, without limitation, (A) as of the date of the loan/mortgage modification endorsement or the new Mortgage Policy, as applicable, that the Lien of each Amended Mortgage is of the same priority as
the Lien of each applicable existing Mortgage, and (B) as of the date of the date down endorsement or the new Mortgage Policy, as applicable, that each Mortgaged Property is free and clear of all defects and encumbrances subject only to Liens
permitted under each applicable Amended Mortgage; 

  
 47 

 (iii) such affidavits, certificates, information and instruments of
indemnification as shall be required to induce the title insurance company to issue an endorsement to each existing Mortgage Policy contemplated in subparagraph (ii) of this clause (g) and evidence of payment of all applicable title
insurance premiums, search and examination charges, mortgage recording taxes, if applicable, and related charges required for the issuance of such endorsement to each existing Mortgage Policy contemplated in subparagraph (ii) of this clause
(g); 
 (iv) “Life-of-Loan” Federal Emergency Agency Standard Flood Hazard Determinations with respect to each
Mortgaged Property (together with notice about special flood hazard area status and flood disaster assistance, duly executed by the Borrower or the applicable Loan Party, and evidence of flood insurance, in the event any such Mortgaged Property or
portion thereof is located in a special flood hazard area); and 
 (v) a favorable opinion, addressed to the Collateral Agent
and each of the Secured Parties, in form and substance reasonably satisfactory to the Collateral Agent, from local counsel in the jurisdiction in which each Mortgaged Property is located substantially to the effect, without limitation, that:
(A) each Mortgage Amendment is in proper form for recording in order for each Amended Mortgage to create, when each applicable Mortgage Amendment is recorded in the appropriate recording office, a mortgage lien on the applicable Mortgaged
Property, and a security interest in that part of the Mortgaged Property constituting fixtures; (B) the recording of each Mortgage Amendment in the appropriate recording office is the only filing or recording necessary to give constructive
notice to third parties of the lien created by such Amended Mortgage and the security interest in that part of the Mortgaged Property constituting fixtures created by such Amended Mortgage as security for the Secured Obligations (as defined in each
of the existing Mortgages), including the Obligations evidenced by and as defined in the Credit Agreement, as amended pursuant to this Fifth Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties;
(C) each Amended Mortgage, following its due execution and delivery by the Borrower or the applicable Loan Party, shall constitute a legal, valid and binding obligation of the Borrower or the applicable Loan Party, as the case may be,
enforceable against the Borrower or the applicable Loan Party in accordance with its terms, and upon recording in the applicable recording office shall create a valid, perfected lien on the applicable Mortgaged Property covered thereby; and
(D) no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law
in order to maintain the continued enforceability, validity or priority of the liens created by the Amended Mortgage, as security for the Secured Obligations, including the Obligations evidenced by and as defined in the Credit Agreement, as amended
pursuant to the Fifth Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties. 
 (i)
Notwithstanding the foregoing, this Fifth Amendment shall not become effective with respect to the Secured Notes Consent, as set forth in Section 1, or the Refinancing Amendment, as set forth in Section 2, and the Fifth
Amendment Effective Date shall be deemed not to occur, if each of the conditions set forth or referred to in Sections 4 and 5 has not been satisfied at or prior to 11:59 p.m., New York City time, on March 30, 2013 (it being
understood that any such failure of the Fifth Amendment Effective Date to occur will not affect any rights or obligations of any Person under the Credit Agreement). 

  
 48 

 SECTION 6. Conditions of Effectiveness of the Revolving Commitment Increase Amendment.
Subject to Section 6(k) and Section 7, the Revolving Commitment Increase Amendment, as set forth in Section 3, shall become effective immediately after the effectiveness of the Refinancing Amendment pursuant to
Section 5 above when the following conditions shall have been satisfied (the “Revolving Commitment Increase Effective Date”): 

(a) the Administrative Agent shall have received (i) the duly executed signature page from each Revolving Commitment Increase Lender and
the Borrower, (ii) a Guarantor Consent and Reaffirmation, substantially in the form attached hereto as Annex A, duly executed and delivered by each Guarantor and (iii) the 2013 Intercreditor Agreement, duly executed and delivered by the
Borrower, each Guarantor and a representative for the 2013 Senior Secured Notes; 
 (b) the Borrower shall have paid in full all fees and
reasonable out-of-pocket expenses (i) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Fifth Amendment required to be paid in connection with this Fifth Amendment and (ii) of
counsel to the Administrative Agent (including Attorneys Costs of White & Case LLP) in connection with this Fifth Amendment, the Credit Agreement and the other Loan Documents, in each case to the extent invoiced on or prior to the Revolving
Commitment Increase Effective Date; 
 (c) the Administrative Agent shall have received a certificate of a Responsible Officer of the
Borrower, certifying that (i) the conditions precedent set forth in Section 4.02 of the Credit Agreement have been satisfied on and as of the Revolving Commitment Increase Effective Date and (ii) the conditions precedent to the
effectiveness of the Revolving Commitment Increase set forth in Section 2.16 of the Credit Agreement have been satisfied on and as of the Revolving Commitment Increase Effective Date; 

(d) the Administrative Agent shall have received a certificate, dated the Revolving Commitment Increase Effective Date and signed by a
financial officer of the Borrower, certifying that the Borrower and its Restricted Subsidiaries, on a consolidated basis after giving effect to the issuance of the 2013 Senior Secured Notes and the Revolving Commitment Increase Amendment on the
Revolving Commitment Increase Effective Date, are Solvent as of the Revolving Commitment Increase Effective Date; 
 (e) each Revolving
Commitment Increase Lender shall have received all documentation and other information, if any, required by regulatory authorities with respect to the Borrower reasonably requested on or prior to the Revolving Commitment Increase Effective Date by
such Revolving Commitment Increase Lender under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act; 

(f) the Administrative Agent shall have received (i) a copy of the Organizational Documents, including all amendments thereto, of each
Loan Party, certified, if applicable, as of a recent date by the Secretary of State (or similar Governmental Authority) of the jurisdiction of its organization and a certificate as to the good standing of each Loan Party as of a recent date, from
such Secretary of State or similar Governmental Authority, and (ii) a certificate of the Secretary or Assistant Secretary of each Loan Party dated the Revolving Commitment Increase Effective Date and certifying (A) that attached thereto is
a true and complete copy Organizational Documents of such Loan Party as in effect on the Revolving Commitment Increase Effective Date, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors
(or equivalent governing body) of such Loan Party authorizing the execution, delivery and performance of the Fifth Amendment and, if applicable, Guarantor Consent and Reaffirmation to which such Person is a party and, in the case of the Borrower,
the borrowings under the Credit Agreement, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the Organizational Documents of such Loan Party have not been amended since the date of
the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (i) above, and (D) as to the incumbency and specimen signature of 

  
 49 

 
each officer executing any Loan Document on behalf of such Loan Party and countersigned by another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary
executing the certificate pursuant to clause (ii) above; 
 (g) the Administrative Agent shall have received (i) a fully executed
supplement to the Perfection Certificate (the “Perfection Certificate Supplement”) with updated schedules and (ii) the results of (x) searches of the Uniform Commercial Code filings (or equivalent filings) and
(y) judgment and tax lien searches, made with respect to the Loan Parties in the states or other jurisdictions of formation and headquarters of such Person and with respect to such other locations and names listed on the Perfection Certificate
Supplement, together with, in the case of clause (y), copies of the financing statements (or similar documents) disclosed by such search; 

(h) the Administrative Agent shall have received from (i) Kirkland & Ellis LLP, New York counsel to the Borrower,
(ii) Loyens & Loeff, Luxembourg counsel to the Borrower and (iii) from each other local counsel for the Loan Parties or the Administrative Agent (as applicable, determined by reference to customary practice in the applicable
foreign jurisdictions), in each case, an opinion addressed to the Administrative Agent, the Collateral Agent and each Revolving Commitment Increase Lender and dated the Revolving Commitment Increase Effective Date, which opinion shall be in form and
substance reasonably satisfactory to the Administrative Agent; 
 (i) the Collateral Agent, on behalf of the Secured Parties, shall have
received from the Borrower, or the applicable Loan Party, Collateral Documents reflecting amendments, supplements, restatements, amendment and restatements or other modifications as the Collateral Agent may reasonably request in order to carry out
the purposes of the Collateral Documents, to the extent required by the Collateral and Guarantee Requirement; and 
 (j) with respect
to each existing Mortgage, the Collateral Agent, on behalf of the Secured Parties, shall have received from the Borrower or the applicable Loan Party, to the extent requested by the Collateral Agent, 

(i) a fully executed counterpart of an amendment to such existing Mortgage (individually, a “Mortgage
Amendment” and, collectively, “Mortgage Amendments”; together with the existing Mortgages, as amended by the applicable Mortgage Amendments, if any, individually, an “Amended Mortgage” and, collectively,
“Amended Mortgages”), each duly executed by the Borrower or the applicable Loan Party, as the case may be, together with evidence of completion (or satisfactory arrangements for the completion) of all recordings and filings of each
Mortgage Amendment as may be necessary to create, protect and preserve a valid, perfected Lien, subject only to the Liens permitted under each Amended Mortgage against the applicable Mortgaged Property (as defined in each applicable existing
Mortgage) purported to be covered thereby; 
 (ii) a loan/mortgage modification endorsement and a date down endorsement in
connection with each existing Mortgage Policy which shall each be in form and substance reasonably satisfactory to the Collateral Agent and shall reasonably assure the Collateral Agent, without limitation, (A) as of the date of the
loan/mortgage modification endorsement that the Lien of each Amended Mortgage is of the same priority as the Lien of each applicable existing Mortgage, and (B) as of the date of the date down endorsement each Mortgaged Property is free and
clear of all defects and encumbrances subject only to Liens permitted under each applicable Amended Mortgage; 

  
 50 

 (iii) such affidavits, certificates, information and instruments of
indemnification as shall be required to induce the title insurance company to issue an endorsement to each existing Mortgage Policy contemplated in subparagraph (ii) of this clause (g) and evidence of payment of all applicable title
insurance premiums, search and examination charges, mortgage recording taxes, if applicable, and related charges required for the issuance of such endorsement to each existing Mortgage Policy contemplated in subparagraph (ii) of this clause
(g); 
 (iv) “Life-of-Loan” Federal Emergency Agency Standard Flood Hazard Determinations with respect to each
Mortgaged Property (together with notice about special flood hazard area status and flood disaster assistance, duly executed by the Borrower or the applicable Loan Party, and evidence of flood insurance, in the event any such Mortgaged Property or
portion thereof is located in a special flood hazard area); and 
 (v) a favorable opinion, addressed to the Collateral Agent
and each of the Secured Parties, in form and substance reasonably satisfactory to the Collateral Agent, from local counsel in the jurisdiction in which each Mortgaged Property is located substantially to the effect, without limitation, that:
(A) each Mortgage Amendment is in proper form for recording in order for each Amended Mortgage to create, when each applicable Mortgage Amendment is recorded in the appropriate recording office, a mortgage lien on the applicable Mortgaged
Property, and a security interest in that part of the Mortgaged Property constituting fixtures; (B) the recording of each Mortgage Amendment in the appropriate recording office is the only filing or recording necessary to give constructive
notice to third parties of the lien created by such Amended Mortgage and the security interest in that part of the Mortgaged Property constituting fixtures created by such Amended Mortgage as security for the Secured Obligations (as defined in each
of the existing Mortgages), including the Obligations evidenced by and as defined in the Credit Agreement, as amended pursuant to this Fifth Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties;
(C) each Amended Mortgage, following its due execution and delivery by the Borrower or the applicable Loan Party, shall constitute a legal, valid and binding obligation of the Borrower or the applicable Loan Party, as the case may be,
enforceable against the Borrower or the applicable Loan Party in accordance with its terms, and upon recording in the applicable recording office shall create a valid, perfected lien on the applicable Mortgaged Property covered thereby; and
(D) no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law
in order to maintain the continued enforceability, validity or priority of the liens created by the Amended Mortgage, as security for the Secured Obligations, including the Obligations evidenced by and as defined in the Credit Agreement, as amended
pursuant to the Fifth Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties. 
 (k)
Notwithstanding the foregoing, this Fifth Amendment shall not become effective with respect to the Revolving Commitment Increase Amendment, as set forth in Section 3, and the Revolving Commitment Increase Effective Date shall be deemed
not to occur, if each of the conditions set forth or referred to in Section 6 has not been satisfied at or prior to 11:59 p.m., New York City time, on March 30, 2013 (it being understood that any such failure of the Revolving
Commitment Increase Effective Date to occur will not affect any rights or obligations of any Person under the Credit Agreement). 

  
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 SECTION 7. Representations and Warranties. The Borrower and each of the other Loan Parties
represent and warrant as follows as of the date hereof, as of the Fifth Amendment Effective Date and as of the Revolving Commitment Increase Effective Date: 

(a) The execution, delivery and performance by each Loan Party of this Fifth Amendment are within such Loan Party’s corporate or other
powers and have been duly authorized by all necessary corporate or other organizational action. Neither the execution, delivery and performance by each Loan Party of this Fifth Amendment will (a) contravene the terms of such Person’s
Organization Documents, (b) conflict with or result in any breach or contravention of, or the creation of any Lien upon any of the property or assets of the Borrower or any of the Restricted Subsidiaries (other than as permitted by
Section 7.01 of the Credit Agreement), or require any payment under (i) any Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Restricted Subsidiaries or
(ii) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any applicable material Law, except to the extent that any such breach,
contravention or payment (but not the creation of any Lien) referred to in clause (b)(i) could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) This Fifth Amendment has been duly executed and delivered by each Loan Party that is a party to the Loan Documents and constitutes a
legal, valid and binding obligation of each Loan Party that is a party hereto or thereto, enforceable against such Loan Party in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles
of equity. 
 (c) Upon the effectiveness of each and all parts of this Fifth Amendment, and both before and immediately after giving effect
to each and all parts of this Fifth Amendment and the making of each Revolving Commitment Increases, no Default or Event of Default exists. 

(d) Each of the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement and
each other Loan Document immediately before and after giving effect to each and all parts of this Fifth Amendment is true and correct in all material respects on and as of the date hereof; provided that, to the extent that such
representations and warranties specifically refer to an earlier date, they are true and correct in all material respects as of such earlier date. 

SECTION 8. Reference to and Effect on the Credit Agreement and the Loan Documents. 

(a) On and after the Fifth Amendment Effective Date or the Revolving Commitment Increase Effective Date, as applicable, (i) each
reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Fifth
Amendment; (ii) each Revolving Commitment Increase shall constitute a “Revolving Credit Commitment” as defined in the Credit Agreement; and (iii) each Revolving Commitment Increase Lender shall constitute a “Lender” as
defined in the Credit Agreement. 
 (b) The Credit Agreement and each of the other Loan Documents, as specifically amended by each and all
parts of this Fifth Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral
described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case, as amended by this Fifth Amendment. 

  
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 (c) The execution, delivery and effectiveness of any part of this Fifth Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. On and after the
effectiveness of any part of this Fifth Amendment, this Fifth Amendment shall for all purposes constitute a Loan Document. 
 SECTION 9.
Specific Limitations Applicable to Singapore Subsidiaries and Hong Kong Subsidiaries. Notwithstanding anything to the contrary contained in this Fifth Amendment, until such time as all required statutory whitewash processes under
Section 76(10) of the Companies Act, Chapter 50 of Singapore have been completed, each Singapore Subsidiary and each Hong Kong Subsidiary executing this Fifth Amendment as a Guarantor acknowledges and agrees as to the aforesaid matters other
than in respect of the 2013 Senior Secured Notes. 
 SECTION 10. Execution in Counterparts. This Fifth Amendment may be executed in
one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by facsimile or electronic transmission of an executed counterpart of a signature page to this
Fifth Amendment shall be effective as delivery of an original executed counterpart of this Fifth Amendment. 
 SECTION 11. Governing
Law. This Fifth Amendment shall be governed by, and construed in accordance with, the law of the State of New York (without regard to conflict of laws principles other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

 SECTION 12. Instruction and Authorization of Collateral Agent. Each of the Lenders party hereto hereby authorizes and instructs
the Collateral Agent to enter into, in each case in its capacity as Collateral Agent, (x) the 2013 Intercreditor Agreement and (y) an amendment to the Security Agreement for the purpose of amending Section 2.03(c)(ii) thereof in order
to permit the grantors thereunder to incur Liens on the Collateral as permitted under the Credit Agreement and as contemplated in the Offering Circular. 

[The remainder of this page is intentionally left blank] 

  
 53 

 Exhibit A to 

Fifth Amendment to Credit Agreement 

Schedule 1.01C 
 MANDATORY
COST 
 [see attached] 

 Schedule 1.01C 

to Credit Agreement 

Mandatory Cost 
  

	1.	The Mandatory Cost (to the extent applicable) is an addition to the interest rate to compensate Lenders for the cost of compliance with: 

 

	 	(a)	the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions); or 

 

	 	(b)	the requirements of the European Central Bank. 

  

	2.	On the first day of each Interest Period (or as soon as practicable thereafter) the Administrative Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in
accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender
in the relevant Loan) and will be expressed as a percentage rate per annum. The Administrative Agent will, at the request of the Borrower or any Lender, deliver to the Borrower or such Lender as the case may be, a statement setting forth the
calculation of any Mandatory Cost. 

  

	3.	The Additional Cost Rate for any Lender lending from a Lending Office in a Participating Member State will be the percentage notified by that Lender to the Administrative Agent. This percentage will be certified by such
Lender in its notice to the Administrative Agent to be its reasonable determination of the cost (expressed as a percentage of such Lender’s participation in all Loans made from such Lending Office) of complying with the minimum reserve
requirements of the European Central Bank in respect of Loans made from that Lending Office. 

  

	4.	The Additional Cost Rate for any Lender lending from a Lending Office in the United Kingdom will be calculated by the Administrative Agent as follows: 

 

			
	 E x 0.01
	 	   percent per annum
  

	300	 

 Where: 
  

	 	“E”	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Administrative Agent as being the average of the most recent rates of charge supplied by the Revolving Credit Lenders
to the Administrative Agent pursuant to paragraph 6 below and expressed in pounds per £1,000,000. 

  

	5.	For the purposes of this Schedule 1.01C: 

  

	 	(a)	“Fees Rules” means the rules on periodic fees contained in the Financial Services Authority Fees Manual or such other law or regulation as may be in force from time to time in respect of the payment of
fees for the acceptance of deposits; 

  

	 	(b)	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required pursuant to the Fees Rules but taking
into account any applicable discount rate); and 

  

	 	(c)	“Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 

	6.	If requested by the Administrative Agent or the Borrower, each Revolving Credit Lender with a Lending Office in the United Kingdom or a Participating Member State shall, as soon as practicable after publication by the
Financial Services Authority, supply to the Administrative Agent and the Borrower, the rate of charge payable by such Revolving Credit Lender to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of
the Financial Services Authority (calculated for this purpose by such Revolving Credit Lender as being the average of the Fee Tariffs applicable to such Revolving Credit Lender for that financial year) and expressed in pounds per £1,000,000 of
the Tariff Base of such Revolving Credit Lender. 

  

	7.	Each Lender shall supply any information required by the Administrative Agent for the purpose of calculating its Additional Cost Rate. In particular, but without limitation, each Lender shall supply the following
information in writing (including by means of electronic mail) on or prior to the date on which it becomes a Lender: 

  

	 	(a)	its jurisdiction of incorporation and the jurisdiction of the Lending Office out of which it is making available its participation in the relevant Loan; and 

 

	 	(b)	any other information that the Administrative Agent may reasonably require for such purpose. 

Each Lender shall promptly notify the Administrative Agent in writing (including by means of electronic mail) of any change to the information
provided by it pursuant to this paragraph. 
  

	8.	The Administrative Agent shall have no liability to any Person if such determination results in an Additional Cost Rate which over- or under-compensates any Lender and shall be entitled to assume that the information
provided by any Lender or the Revolving Credit Lenders pursuant to paragraphs 3, 6 and 7 above is true and correct in all respects. 

  

	9.	The rates of charge of each Revolving Credit Lender for the purpose of E above shall be determined by the Administrative Agent based upon the information supplied to it pursuant to paragraphs 6 and 7 above
and on the assumption that, unless a Lender notifies the Administrative Agent to the contrary, each Lender’s obligations in relation to cash ratio deposits and Special Deposits are the same as those of a typical bank from its jurisdiction of
incorporation with a Lending Office in the same jurisdiction as such Lender’s Lending Office. 

  

	10.	The Administrative Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Revolving Credit Lenders on the basis of the Additional Cost Rate for each Revolving Credit Lender based
on the information provided by each Lender and the Revolving Credit Lenders pursuant to paragraphs 3, 6 and 7 above. 

  

	11.	Any determination by the Administrative Agent pursuant to this Schedule 1.01C in relation to a formula, the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall, in the absence of manifest
error, be conclusive and binding on all Parties hereto. 

  

	12.	 The Administrative Agent may from time to time, after consultation with the Borrower and the Lenders, determine and notify to all parties any
amendments which are required to be made to this Schedule 1.01C in order to comply with any change in law, regulation or any requirements 

	 	
from time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or, in any case, any other authority which replaces all or any of its functions)
and any such determination shall, in the absence of manifest error, be conclusive and binding on all Parties hereto. 

 Exhibit B to 

Fifth Amendment to Credit Agreement 

Schedule 6.14(a)(iv) 

Fifth Amendment Post-Closing Requirements 
  

	1.	Singapore Subsidiaries. Each Singapore Subsidiary (a) shall complete all required whitewash procedures under Section 76(10) of the Companies Act, Chapter 50 of Singapore relating to any provision
of financial assistance by such Singapore Subsidiary under the Credit Agreement (including, for avoidance of doubt, in relation to the 2013 Senior Secured Notes) no later than sixty (60) days following the Fifth Amendment Effective Date and,
upon completion of such whitewash procedures, shall promptly provide the Collateral Agent with certified copies of any documents relating to the whitewash procedures and (b) shall have executed, no later than ninety (90) days following the
Fifth Amendment Effective Date, all such Collateral Documents (including the PRC Equity Interest Pledge Agreements by Styron Holdings Asia Pte. Ltd.) reflecting amendments, supplements, restatements, amendment and restatements or other
modifications, as desirable or necessary to ensure (i) the validity, legality and enforceability of the applicable Collateral Documents and (ii) that all of the Collateral described in the Collateral Documents shall continue to secure (on
the same basis required pursuant to the definition of “Collateral and Guarantee Requirement”) the payment of all Obligations of the Loan Parties under the Loan Documents in accordance with the applicable laws of Singapore, in each case, as
amended by this Fifth Amendment, and the Administrative Agent shall have received an opinion or opinion(s) relating to such Collateral Documents in form and substance reasonably acceptable to the Administrative Agent. 

 

	2.	Real Property. With respect to each existing Mortgage, no later than sixty (60) days following the Fifth Amendment Effective Date, the Collateral Agent shall have received the documents and other
instruments required to be delivered pursuant to Sections 5(h)(i), 5(h)(ii), 5(h)(iii) and 5(h)(v) of the Fifth Amendment. 

  

	3.	China. 

  

	 	a.	No later than ninety (90) days following the Fifth Amendment Effective Date, the Approval and De-registration of (i) the Equity Interest Pledge Agreement dated as of January 5, 2011, among Styron Holdings
Asia Pte. Ltd. (“SHP”), Styron S/B Latex (Zhangjiagang) Company Limited (“Styron S/B”) and the Collateral Agent and (ii) the Equity Interest Pledge Agreement dated as of January 5, 2011, among SHP, SAL
Petrochemical (Zhangjiagang) Company Limited (“SAL”) and the Collateral Agent with the Department of Commerce of Jiangsu Province and with the Administration for Industry and Commerce in Zhangjiagang Free Trade Zone of Jiangsu
Province shall have been completed. 

  

	 	b.	No later than February 8, 2013, the Collateral Agent shall have received (i) the Equity Interest Pledge Agreement for a pledge over the equity interest held by SHP in Styron S/B by and among Styron S/B, SHP
and the Collateral Agent (“Styron S/B Pledge Agreement”), (ii) the Equity Interest Pledge Agreement for a pledge over the equity interest held by SHP in SAL by and among SAL, SHP and the Collateral Agent (“SAL Pledge
Agreement”), (iii) the Consolidated Financing Agreement by and among the Borrower, Trinseo Materials Finance, Inc., the Collateral Agent and Wilmington Trust, National Association, (iv) the Pledge Release Agreement by and among
SHP, Stryon S/B and the Collateral Agent and (v) the Pledge Release Agreement by and among SHP, SAL and the Collateral Agent. 

	 	c.	No later than one hundred and twenty (120) days following the Fifth Amendment Effective Date, the Approval and Registration of the Styron S/B Pledge Agreement and the SAL Pledge Agreement with the Department of
Commerce of Jiangsu Province and the Administration for Industry and Commerce in Zhangjiagang Free Trade Zone of Jiangsu Province shall have been completed. 

  

	4.	France. No later than February 8, 2013, the Collateral Agent shall have received: 

  

	 	a.	a fifth ranking pledge agreement over pledge account by Styron B.V. in favor of the Collateral Agent, adding the Hedge Banks as secured parties thereunder; 

 

	 	b.	a fourth ranking pledge agreement over bank account by Styron France SAS in favor of the Collateral Agent, adding the Hedge Banks as secured parties thereunder; and 

 

	 	c.	a fourth ranking pledge agreement over pledged receivables by Styron France SAS in favor of the Collateral Agent, adding the Hedge Banks as secured parties thereunder. 

 

	5.	Italy. 

  

	 	a.	No later than February 8, 2013, the Collateral Agent shall have received: 

  

	 	i.	a third deed of amendment to the Pledge Over Bank Accounts dated August 13, 2010 by Styron Italia S.r.l. in favor the Collateral Agent; 

 

	 	ii.	a third deed of amendment to the Assignment of Receivables Agreement by Styron Italia S.r.l. in favor of the Collateral Agent; and 

  

	 	iii.	a third deed of amendment to the Pledge Over the entire corporate capital of Styron Italia S.r.l. by Styron Holding B.V. in favor of the Collateral Agent. 

 

	 	b.	No later than five (5) Business Days following the Fifth Amendment Effective Date, the Administrative Agent shall have received from Italian counsel to the Borrower, an opinion addressed to the
Administrative Agent, the Collateral Agent and the Lenders, which opinion shall be in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

 

	6.	Spain. No later than February 8, 2013, the Collateral Agent shall have received a Spanish law security ratification agreement by Styron Holdings B.V. and Styron Spain, S.L. in favor of the Collateral
Agent. 

  

	7.	Germany. No later than February 8, 2013, the Collateral Agent shall have received a German law notarial Confirmation and Amendment Agreement between Styron Deutschland GmbH, Styron Netherlands B.V.
and Styron Holding B.V. in favor of the Collateral Agent. 

  

	8.	Australia. No later than ninety (90) days following the Fifth Amendment Effective Date, the Collateral Agent shall have received a Share Security Deed by SHP in favor of the Collateral Agent.

  
 56 

 Exhibit C to 

Fifth Amendment to Credit Agreement 

Schedule 7.02(c) 

INTERCOMPANY INVESTMENTS 
 [see
attached] 

 Schedule 7.02(c) 

To Credit Agreement 

Intercompany Investments 
  

									
	 Lending Entity
	  	 Borrowing Entity
	  	Amount	 	  	Currency
	 Trinseo Materials Operating S.C.A.
	  	Styron Spain S.L.	  	 	1,846,000.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Belgium B.V.B.A.	  	 	6,920,000.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Sverige AB	  	 	70,523,000.00	  	  	SEK
	 Trinseo Materials Operating S.C.A.
	  	Styron UK Limited	  	 	1,741,000.00	  	  	GBP
	 Trinseo Materials Operating S.C.A.
	  	Styron Holding B.V.	  	 	12,887,000.00	  	  	EUR
	 Styron Holding B.V.
	  	Styron Italia s.r.l.	  	 	12,887,000.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron France S.A.S.	  	 	2,450,000.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Kimya Ticaret Limited Sirketi	  	 	5,949,865.00	  	  	USD
	 Trinseo Materials Operating S.C.A.
	  	Styron US Holding, Inc.	  	 	257,710,412.00	  	  	USD
	 Trinseo Materials Operating S.C.A.
	  	Styron Europe GmbH	  	 	153,498,142.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Europe GmbH	  	 	55,848,655.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Europe GmbH	  	 	50,983,048.26	  	  	USD
	 Trinseo Materials Operating S.C.A.
	  	Styron Deutschland GmbH	  	 	76,000,000.00	  	  	EUR
	 Trinseo Materials Operating S.C.A.
	  	Styron Netherlands B.V.	  	 	60,878,738.00	  	  	EUR

 Exhibit D to 

Fifth Amendment to Credit Agreement 

Exhibit A 
 COMMITED LOAN
NOTICE 
 [see attached] 

 EXHIBIT A 

[FORM OF] 
 COMMITTED LOAN NOTICE

  

	To:	Deutsche Bank AG New York Branch, as Administrative Agent 

 60 Wall Street 

New York, NY 10005 
 Attention:
[                    ] 
 [Date] 

Ladies and Gentlemen: 
 Reference is made to the
Credit Agreement, dated as of June 17, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Trinseo Materials Operating S.C.A. (formerly known as Styron S.ŕ r.l. and
Trinseo Materials Operating S.ŕ r.l.), a partnership limited by shares (société en commandite par actions) organized under the laws of Luxembourg (the “Borrower”), the Guarantors party thereto from time to
time, the lenders and other parties thereto from time to time and Deutsche Bank AG New York Branch, as Administrative Agent. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement. 
 The undersigned Borrower hereby requests (select one): 

 

							
		 	A Borrowing of new Loans	 	  
	 	
				
		 	A conversion of Loans denominated in Dollars made on	 	  
	 	
				
		 	A continuation of LIBO Rate Loans made on	 	  
	 	

							
			
	to be made on the terms set forth below:	 		 	

							
				
	(A)	 	Class of Borrowing	 	  
	 	
				
	(B)	 	Date of Borrowing, conversion or continuation (which is a Business Day) 1	 	  
	 	
				
	(C)	 	Principal amount2	 	  
	 	

  

	1 	Notice must be received not later than 12:30 p.m. (New York, New York time, in the case of Borrowings denominated in Dollars, or London time, in the case of Borrowings denominated in Euros) (i) three
(3) Business Days prior to the requested date of any Borrowing of or conversion of Base Rate Loans to LIBO Rate Loans denominated in Dollars, (ii) three (3) Business Days prior to the requested date of any Borrowing or continuation of
LIBO Rate Loans, conversion of Base Rate Loans to LIBO Rate Loans denominated in Euros and (iii) one (1) Business Day before the requested date of any Borrowing of Base Rate Loans or conversion of LIBO Rate Loans denominated in Dollars to
Base Rate Loans. 

 
					
	(D)	  	Currency of Loan3	  	  

			
	(E)	  	Type of Loan4	  	  

			
	(F)	  	Interest Period and the last day thereof5	  	  

			
	(G)	  	Location and number of Borrower’s account to which proceeds of Borrowings are to be disbursed:	  	  

 [The undersigned Borrower hereby represents and warrants to the Administrative Agent and the Lenders
that, on the date of this Committed Loan Notice and on the date of the related Borrowing, the conditions to lending specified in Section 4.02 of the Credit Agreement will be satisfied as of the date of the Borrowing set forth above.]6 
  

			
	TRINSEO MATERIALS OPERATING S.C.A.,
		
	By:	 	  

		 	Name:
		 	Title:

  

	2 	LIBO Rate borrowing minimum Dollar Amount of $1,000,000, as applicable, and borrowings also allowed in whole multiples of a Dollar Amount of $250,000, in excess thereof, as applicable. Base Rate borrowing minimum Dollar
Amount of $500,000 and borrowings also allowed in whole multiples of a Dollar Amount of $100,000 in excess thereof. 

	3 	Applicable for Revolving Credit Loans. Specify Euros or Dollars. If no currency is specified, the requested Borrowing shall be in Dollars. 

	4 	Specify LIBO Rate or Base Rate (which in the case of Revolving Credit Loans denominated in Euros shall be LIBO Rate Loans). If (x) with respect to LIBO Rate Loans denominated in Dollars, the Borrower fails to
specify the Type of Loan or fails to give a timely notice requesting a continuation, then the applicable Class of Term Loans or Revolving Credit Loans shall be made as Base Rate Loans or (y) with respect to LIBO Rate Loans denominated in Euros,
the Borrower fails to give a timely notice requesting a continuation, then the applicable Class of Term Loans or Revolving Credit Loans shall be continued as LIBO Rate Loans with an Interest Period of one month. 

	5 	Applicable for LIBO Rate Borrowings/Loans only. 

	6 	Insert bracketed language if the Borrower is making a Request for Credit Extension after the Closing Date. 

 Exhibit E to 

Fifth Amendment to Credit Agreement 

Exhibit D 
 COMPLIANCE
CERTIFICATE 
 [see attached] 

 EXHIBIT D 

[FORM OF] 
 COMPLIANCE CERTIFICATE

 Reference is made to the Credit Agreement dated as of June 17, 2010 (as amended, supplemented, waived or otherwise modified from
time to time, the “Credit Agreement”), among TRINSEO MATERIALS OPERATING S.C.A. (formerly known as STYRON S.A R.L. and TRINSEO MATERIALS OPERATING S.A R.L.), a partnership limited by shares (société en commandite
par actions) organized under the laws of Luxembourg (the “Borrower”), the Guarantors party thereto from time to time, the lenders and other parties thereto from time to time and DEUTSCHE BANK AG NEW YORK BRANCH, as
Administrative Agent (capitalized terms used herein have the meanings attributed thereto in the Credit Agreement unless otherwise defined herein). Pursuant to Section 6.02(a) of the Credit Agreement, the undersigned, solely in his/her capacity
as a Responsible Officer of Holdings, certifies as follows: 
  

	 	1.	[Attached hereto as Exhibit A is the consolidated balance sheet of Holdings and its Subsidiaries as of December 31, 20[    ] and the related consolidated statements of income or operations,
stockholders’ equity and cash flows for the fiscal year then ended, [setting forth in each case in comparative form the figures for the previous fiscal year,]1with accompanying management
discussion and analysis, 2all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of PricewaterhouseCoopers LLP or any other independent
registered public accounting firm of nationally recognized standing, which report and opinion has been prepared in accordance with generally accepted auditing standards and not subject to any “going concern” or like qualification or
exception or any qualification or exception as to the scope of such audit. Also attached hereto as Exhibit A are the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted
Subsidiaries (if any) (which may be in footnote form only) from such consolidated financial statements.]3 

  

	 	2.	[Attached hereto as Exhibit A is the consolidated balance sheet of Holdings and its Subsidiaries as of
[                    ] and the related (i) consolidated statements of income or operations for such fiscal quarter and for the portion of the
fiscal year then ended and (ii) consolidated statements of cash flows for such fiscal quarter and the portion of the fiscal year then ended, [setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the
previous fiscal year and the corresponding portion of the previous fiscal year,]4 to the extent required by Section 6.01(b) of the Credit Agreement all in reasonable detail. These present
fairly in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end 

 
  

	1 	Subject to Section 1.05 of the Credit Agreement 

	2 	Such comparative figures and accompanying management discussions and analysis shall not be required to be delivered for the fiscal year ending December 31, 2010. 

	3 	To be included if accompanying annual financial statements only. 

	4 	Subject to Section 1.05 of the Credit Agreement 

  
 D-1 

	 	
audit adjustments and the absence of footnotes. Also attached hereto as Exhibit A are the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts
of Unrestricted Subsidiaries (if any) (which may be in footnote form only) from such consolidated financial statements.]5 

 

	 	3.	[Attached as Exhibit B hereto is a detailed consolidated budget for 20[    ] (including a projected consolidated balance sheet of Holdings and its Subsidiaries as of the end of
20[    ], the related consolidated statements of projected cash flow and projected income and a summary of the material underlying assumptions applicable thereto) (collectively, the “Projections”), which
Projections are prepared in good faith and are based on the reasonable assumptions at the time of preparation of such Projections it being understood that actual results may vary from such Projections and such variations may be material.]6 

  

	 	4.	To my knowledge, except as otherwise disclosed to the Administrative Agent pursuant to the Credit Agreement, no Default has occurred. [If unable to provide the foregoing certification, describe in reasonable detail the
reasons therefor and circumstances thereof and any action taken or proposed to be taken with respect thereto on Annex A attached hereto.] 

  

	 	5.	[The following represent true and accurate calculations, as of [                    ], to be used to determine
compliance with the covenants set forth in Section 7.11 of the Credit Agreement: 

  

			
	First Lien Net Leverage Ratio:	  	
		
	Consolidated Total Net First Lien Indebtedness=	  	[            ]
	Consolidated EBITDA=	  	[            ]
	Actual Ratio=	  	[            ] to 1.0
	Required Ratio=	  	[            ] to 1.0

 Supporting detail showing the calculation of First Lien Net Leverage Ratio is attached hereto as Schedule
1.] 7 
  

	 	6.	[Attached hereto is the information required by Section 6.02(d) of the Credit Agreement.]8]9

  

	5 	To be included if accompanying quarterly financial statements only. 

	6 	To be included only in annual compliance certificate. 

	7 	To be included only if Section 7.11 is applicable for the reporting period. 

	8 	Information required by Section 6.02(d)(i) to be included only in annual compliance certificate. 

	9 	Items 4-6 may be disclosed in a separate certificate no later than 5 business days after delivery of the financial statements pursuant to Section 6.02(a) of the Credit Agreement. 

  
 D-2 

 SCHEDULE 1 
  

											
	(A)	 	First Lien Net Leverage Ratio: Consolidated Total Net First Lien Indebtedness to Consolidated EBITDA
		
	(1)	 	Consolidated Total Net Debt as of [            ], 20[    ]:
				
		 	(a)	 	At any date of determination, the aggregate principal amount of Indebtedness of Holdings and its Restricted Subsidiaries that are consolidated entities of Holdings in accordance with GAAP outstanding on such date, in an
amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of purchase accounting in
connection with the Transactions or any Permitted Acquisition) consisting of the sum of the following:	 	
					
		 		 	(i)	 	Indebtedness for borrowed money	 	  

					
		 		 	(ii)	 	Attributable Indebtedness	 	  

					
		 		 	(iii)	 	debt obligations evidenced by promissory notes or similar instruments	 	  

				
		 		 	minus	 	  

				
		 	(b)	 	the aggregate amount of cash and Cash Equivalents (other than Restricted Cash) included in the consolidated balance sheet of Holdings and its Restricted Subsidiaries in each case, free and clear of Liens at all times,
other than non consensual Liens permitted by Section 7.01,	 	  

			
		 	Consolidated Total Net Debt shall not include Indebtedness in respect of letters of credit, except to the extent of unreimbursed amounts thereunder; provided that any unreimbursed amount under commercial letters
of credit shall not be included as Consolidated Total Net Debt until three (3) Business Days after such amount is drawn, (ii) obligations under Swap Contracts entered into for non-speculative purposes shall not constitute Consolidated Total Net
Debt, (iii) the aggregate principal amount of the Revolving Credit Facility during any relevant period shall be calculated based on the daily average outstanding amount of the Revolving Credit Loans and the Swing Line Loans during such period and
(iv) Consolidated Total Net Debt shall not include the aggregate principal amount of outstanding Indebtedness of each Securitization Subsidiary that is a consolidated entity of Holdings in accordance with GAAP under any Permitted Securitizations on
such date.	 	  

											
			
		 	Consolidated Total Net Debt	 	  

			
	(2)	 	Consolidated Total Net First Lien Indebtedness as of [                    ], 20[    ]	 	
				
		 	(a)	 	Consolidated Total Net Debt as of [                    ], 20[    ]	 	  

				
		 		 	minus	 	
				
		 	(b)	 	Any portion of Consolidated Total Net Debt that is unsecured or that is secured by a Lien on any assets of Holdings or any of its Restricted Subsidiaries that is expressly subordinated to the Liens granted under the
Collateral Documents to the Collateral Agent for the benefit of the Secured Parties in all respects (it being understood that the Liens granted to secure the 2013 Senior Secured Notes and any other Liens granted to secure Indebtedness on similar
terms to the 2013 Senior Secured Notes (and any refinancing thereof) are not, for the purpose of this definition, expressly subordinated to the Liens granted under the Collateral Documents to the Collateral Agent for the benefit of the Secured
Parties).	 	  

			
		 	Consolidated Total Net First Lien Indebtedness	 	  

			
	(3)	 	Consolidated EBITDA:	 	
				
		 	(a)	 	Consolidated Net Income:	 	
					
		 		 	(i)	 	the net income (loss) of Holdings in accordance with GAAP; the Restricted Subsidiaries and the Securitization Subsidiaries that are consolidated entities of Holdings for such period determined on a consolidated basis in
accordance with GAAP (which shall be determined with respect to any period ending on or prior to the Closing Date in accordance with Section 1.05(b)), excluding, without duplication:	 	  

						
		 		 		 	(A)	 	after-tax effect of non-recurring or extraordinary items (including gains or losses and all fees and expenses relating thereto) for such period,	 	  

						
		 		 		 	(B)	 	the cumulative effect of a change in accounting principles during such period to the extent included in Consolidated Net Income,	 	  

						
		 		 		 	(C)	 	any fees and expenses incurred during such period, or any amortization thereof for such	 	

  
 -2- 

											
		 		 		 		 	period, in connection with any acquisition, investment, asset disposition, issuance or repayment of debt, issuance of equity securities, refinancing transaction or amendment or other modification of any debt instrument and any
charges or non-recurring merger costs incurred during such period as a result of any such transaction, in each case for any such fee, expense or cost whether or not successful (including, for the avoidance of doubt the effects of expensing all
transaction related expenses in accordance with Financial Accounting Standards No. 141(R) and gains or losses associated with FASB Interpretation No. 45),	 	  

						
		 		 		 	(D)	 	accruals and reserves that are established or adjusted within twelve months after the Closing Date that are so required to be established as a result of the Transactions in accordance with GAAP or changes as a result of adoption or
modification of accounting policies in accordance with GAAP,	 	  

						
		 		 		 	(E)	 	any net after-tax gains or losses from abandoned, disposed of or discontinued operations,	 	  

						
		 		 		 	(F)	 	any net after-tax effect of gains or losses (less all fees, expenses and charges) attributable to asset dispositions or the sale or other disposition of any Equity Interests of any Person in each case other than in the ordinary
course of business, as determined in good faith by Holdings,	 	  

						
		 		 		 	(G)	 	the net income (loss) for such period of any Person that is not a Subsidiary of Holdings, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting; provided that Consolidated Net Income of
Holdings shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash Equivalents (or to the extent subsequently converted into cash or Cash Equivalents) to Holdings or a Restricted
Subsidiary thereof in respect of such period,	 	  

						
		 		 		 	(H)	 	any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets, investments	 	  

  
 -3- 

											
		 		 		 		 	in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP,	 	
						
		 		 		 	(I)	 	any non-cash compensation charge or expense, including any such charge or expense arising from the grants of stock appreciation or similar rights, stock options, restricted stock or other rights or equity incentive programs and any
cash charges associated with the rollover, acceleration or payout of Equity Interests by management of Holdings or the Seller or any of its direct or indirect Restricted Subsidiaries in connection with the Transactions,	 	  

						
		 		 		 	(J)	 	any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any Investment, Permitted Acquisition or any sale, conveyance, transfer or other disposition of assets
permitted under the Credit Agreement, to the extent that such amount is in fact indemnified or reimbursed within 365 days of such determination (with a deduction in the applicable future period of any amount so added back to the extent not so
indemnified or reimbursed within such 365 days),	 	  

						
		 		 		 	(K)	 	to the extent covered by insurance and actually reimbursed, expenses, charges or losses with respect to liability or casualty events or business interruption,	 	  

						
		 		 		 	(L)	 	any net pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts arising in prior periods, amortization of the
unrecognized net obligation (and loss or cost) existing at the date of initial application of Statement on Financial Accounting Standards Nos. 87, 106 and 112, and any other items of a similar nature,	 	  

						
		 		 		 	(M)	 	the income (or loss) of any Person accrued prior to the date it becomes a Restricted Subsidiary of Borrower, or is merged into, amalgamated or consolidated with Borrower or any of its Restricted Subsidiaries or that Person’s
assets	 	  

  
 -4- 

											
		 		 		 		 	are acquired by Borrower or any of its Restricted Subsidiaries (except to the extent required for any calculation of Consolidated EBITDA on a Pro Forma Basis in accordance with Section 1.10),	 	
						
		 		 		 	(N)	 	any non-cash interest expense attributable to the movement of the mark-to-market valuation of obligations under Swap Contracts or other derivative instruments pursuant to Statement of Financial Accounting Standards No. 133,	 	
						
		 		 		 	(O)	 	the income of any Restricted Subsidiary of the Borrower that is not a Guarantor to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that income is not at the time
permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary (which has not been waived) shall be excluded, except (solely
to the extent permitted to be paid) to the extent of the amount of dividends or other distributions actually paid to the Borrower or any of its Restricted Subsidiaries that are Guarantors by such Person during such period in accordance with such
documents and regulations,	 	
		
	There shall be excluded from Consolidated Net Income for any period the purchase accounting effects of adjustments in component amounts required or permitted by GAAP (including in the inventory, property and equipment,
software, goodwill, intangible assets, in-process research and development, deferred revenue and debt line items thereof) and related authoritative pronouncements (including the effects of such adjustments pushed down to the Borrower and the
Restricted Subsidiaries), as a result of the Transactions, any acquisition consummated prior to the Closing Date, any Permitted Acquisitions or other Investments, or the amortization or write-off of any amounts thereof.	 	
				
		 	(b)	 	plus, without duplication, the following amounts (in each case, to the extent deducted (and not added back) in arriving at such Consolidated Net Income for such period) for such period with respect to Holdings,
its Restricted Subsidiaries and the Securitization Subsidiaries that are consolidated entities of Holdings in accordance with GAAP (which shall be determined with respect to any period ending on or prior to the Closing Date in accordance with
Section 1.05(b) of the Credit Agreement:	 	
					
		 		 	(i)	 	total interest expense determined in accordance with GAAP and, to the extent not reflected in such total interest expense, any losses on hedging obligations or other derivative instruments entered into for the purpose of
hedging interest rate risk, net of interest income and gains on such hedging obligations, and costs of surety bonds in connection with financing activities (whether amortized or immediately expensed),	 	  

  
 -5- 

											
					
		 		 	(ii)	 	provision for taxes based on income, profits or capital gains of Holdings and the Restricted Subsidiaries, including, without limitation, federal, state, franchise and similar taxes and foreign withholding taxes paid or
accrued during such period including penalties and interest related to such taxes or arising from any tax examinations,	 	  

					
		 		 	(iii)	 	depreciation and amortization,	 	  

					
		 		 	(iv)	 	duplicative running costs, severance, relocation costs or expenses, Transaction Expenses, integration costs, transition costs, pre-opening, opening, consolidation and closing costs for facilities, costs incurred in
connection with any non-recurring strategic initiatives, costs incurred in connection with acquisitions and non-recurring product and intellectual property development after the Closing Date, other business optimization expenses (including costs and
expenses relating to business optimization programs and new systems design and implementation costs), project start-up costs and restructuring charges or reserves (including restructuring costs related to acquisitions after the Closing Date and to
closure/consolidation of facilities, retention charges, systems establishment costs and excess pension charges) in an aggregate amount of all items deducted pursuant to this clause (iv) not to exceed (A) $10,000,000 with respect to the Transaction
Expense incurred, accrued or paid after the end of the first full fiscal quarter after the Closing Date and (B) with respect to costs, expenses, charges and reserves (other than Transaction Expenses) (x) $12.5 million for the period from
July 1, 2010 to December 31, 2010 and (y) otherwise, $25 million in any other fiscal year; provided that (I) the unused amounts in any fiscal year (without giving effect to any amount carried over from a prior fiscal year) under this
clause (y) may be carried over to the next	 	  

  
 -6- 

											
		 		 		 	succeeding fiscal year (but not any other fiscal year) and (II) amounts deducted in any fiscal year shall first be deemed to be allocated against the scheduled amount for such fiscal year before giving effect to any
carried over amount,	 	
					
		 		 	(v)	 	the amount of any minority interest expense consisting of Restricted Subsidiary income attributable to minority interests of third parties in any non-wholly owned Restricted Subsidiary,	 	  

					
		 		 	(vi)	 	the amount of management, monitoring, consulting, transaction and advisory fees and related expenses paid or accrued to the Investors or their Affiliates (or management companies) under the Investor Management
Agreement,	 	  

					
		 		 	(vii)	 	any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent
that such costs or expenses are funded with cash proceeds contributed to the capital of Holdings or net cash proceeds of an issuance of Equity Interests of Holdings (other than Disqualified Equity Interests),	 	  

					
		 		 	(viii)	 	cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing Consolidated EBITDA or Consolidated Net Income in any period to the extent non-cash gains relating to such income were
deducted in the calculation of Consolidated EBITDA pursuant to paragraph (c) below for any previous period and not added back,	 	
					
		 		 	(ix)	 	non-cash expenses, charges and losses (including impairment charges or asset write-offs, losses from investments recorded using the equity method, stock-based awards compensation expense), in each case other than (A) any
non-cash charge representing amortization of a prepaid cash item that was paid and not expensed in a prior period and (B) any non-cash charge relating to write-offs, write-downs or reserves with respect to accounts receivable in the normal course or
inventory; provided that if any non-cash charges referred to in this clause (ix) represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from
Consolidated EBITDA in such future period to such extent paid,	 	  

  
 -7- 

											
		 		 	(x)	 	any net loss from discontinued operations,	 	
					
		 		 	(xi)	 	the amount of cost savings, operating expense reductions, other operating improvements and synergies projected by Holdings in good faith to be realized in connection with the Transactions or any Specified Transaction
(calculated on a Pro Forma Basis as though such cost savings, operating expense reductions, other operating improvements and synergies had been realized on the first day of such period and as if such cost savings, operating expense reductions, other
operating improvements and synergies were realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions; provided that (A) a duly completed certificate signed by a Responsible
Officer of the Borrower shall be delivered to the Administrative Agent together with the Compliance Certificate required to be delivered pursuant to Section 6.02(a), certifying that (x) such cost savings, operating expense reductions,
other operating improvements and synergies are reasonably anticipated to be realized and factually supportable in the good faith judgment of the Borrower, and (y) such actions are to be taken within (I) in the case of any such cost savings,
operating expense reductions, other operating improvements and synergies in connection with the Transactions, 18 months after the Closing Date and (II) in all other cases, within 18 months after the consummation of the acquisition, Disposition,
restructuring or the implementation of an initiative, which is expected to result in such cost savings, expense reductions, other operating improvements or synergies, (B) no cost savings, operating expense reductions and synergies shall be added
pursuant to this clause (xi) to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for such period, (C) to the extent that any cost savings,
operating expense reductions, other operating improvements and synergies are not associated with the Transactions or a Specified Transaction following the Closing Date, all steps shall have been taken for realizing such savings, (D) projected
amounts (and not yet realized) may no longer be added in calculating Consolidated EBITDA	 	

  
 -8- 

											
		 		 		 	pursuant to this clause (xi) to the extent occurring more than four full fiscal quarters after the specified action taken in order to realize such projected cost savings, operating expense reductions, other
operating improvements and synergies and (E) any increase in Consolidated EBITDA as a result of cost savings, operating expense reductions, other operating improvements and synergies pursuant to this clause (xi) shall be subject to the limitations
set forth in Section 1.10(c),	 	
					
		 		 	(xii)	 	proceeds of business interruption insurance,	 	
				
		 	(c)	 	minus, without duplication and to the extent included in arriving at such Consolidated Net Income, the sum of the following:	 	
					
		 		 	(i)	 	non-cash gains (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any prior period),	 	  

					
		 		 	(ii)	 	any net gain from discontinued operations,	 	  

					
		 		 	(iii)	 	the amount of any minority interest income consisting of Restricted Subsidiary losses attributable to minority interests of third parties in any non-wholly owned Restricted Subsidiary; provided that, for the
avoidance of doubt, any gain representing the reversal of any non-cash charge referred to in clause (a)(ix)(B) above for a prior period shall be added (together with, without duplication, any amounts received in respect thereof to the extent not
increasing Consolidated Net Income) to Consolidated EBITDA in any subsequent period to such extent so reversed (or received),	 	  

		
	provided that:	 	
		
	 (A) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA currency translation gains and
losses related to currency remeasurements of Indebtedness (including the net loss or gain (i) resulting from Swap Contracts for currency exchange risk and (ii) resulting from intercompany indebtedness),
	 	
		
	 (B) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period any adjustments
resulting from the application of Statement of Financial Accounting Standards No. 133 and International Accounting Standard No. 39 and their respective related pronouncements and interpretations,
	 	

  
 -9- 

											
	 (C) to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period any income
(loss) for such period attributable to the early extinguishment of (i) Indebtedness, (ii) obligations under any Swap Contracts or (iii) other derivative instruments,
	 	
		
	 Notwithstanding anything to the contrary contained herein, for purposes of determining Consolidated EBITDA under this Agreement (i) for any
period that includes any of the fiscal quarters ended June 30, 2009, September 30, 2009, December 31, 2009 and March 31, 2010, Consolidated EBITDA for such fiscal quarters shall be $71,626,551, $64,069,498, $62,017,229 and
$83,659,434, respectively; provided, however, that Consolidated EBITDA for any of the foregoing periods shall be increased by the amount attributable to Returns during such period, if any, made to the Acquired Business with respect to
the Target JV Interests which are acquired by Holdings or any Restricted Subsidiary on or after the Closing Date, (ii) calculations of Consolidated EBITDA for the fiscal quarter ending June 30, 2010 shall be made as provided in Schedule
1.01(o) of the Acquisition Agreement subject to, without duplication, the add backs provided for above in this definition, (iii) for any period that includes any of the fiscal quarters ended June 30, 2010 or September 30, 2010,
Consolidated EBITDA for such fiscal quarters shall be $87,502,000 and $108,503,000, respectively, (iv) for any period that includes any of the fiscal quarters ended March 31, 2012, December 31, 2011 or September 30, 2011,
Consolidated EBITDA, excluding pro forma adjustments (if any) pursuant to Section 1.10, for such fiscal quarters shall be $143,966,000, $28,637,000 and $68,119,000, respectively, and (v) for any period that includes any of the fiscal
quarters ended September 30, 2012 or June 30, 2012, Consolidated EBITDA, excluding pro forma adjustments (if any) pursuant to Section 1.10, for such fiscal quarters shall be $73,340 and $46,844, respectively.
	 	
		
	 Consolidated EBITDA
	 	  

		
	 Consolidated Total Net First Lien Indebtedness to Consolidated EBITDA
	 	[    ]:1.00
		
	 Covenant Requirement
	 	No more than [    ]:1.00

  
 -10- 

 IN WITNESS WHEREOF, the undersigned, solely in his/her capacity as a Responsible Officer of
Holdings, has executed this certificate for and on behalf of Holdings and has caused this certificate to be delivered this      day of             ,
20[    ]. 
  

			
	TRINSEO MATERIALS OPERATING SCA
		
	By:	 	  

		 	Name:
		 	Title:

 IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	TRINSEO MATERIALS OPERATING S.C.A.,
	as the Borrower, acting through its general partner
	Trinseo Materials S.à r.l.
	
	a Société en commandite par actions
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg: B 153586
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Chief Financial Officer and authorized signatory
	
	STYRON LLC,
	as a Guarantor
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	STYRON US HOLDING, INC.,
	as a Guarantor
		
	By:	 	 /s/ John A. Feenan 

		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	TRINSEO MATERIALS FINANCE, INC.,
	as a Guarantor
		
	By:	 	 /s/ John A. Feenan

		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Executive Vice President and Chief Financial Officer

  
 [Signature page to
Fifth Amendment to Credit Agreement] 

					
	STYRON AUSTRALIA PTY LTD as a Guarantor in accordance with section 127 of the Corporations Act 2001 (Cth):	 		 	
			
	/s/ MARK STEWART TUCKER	 		 	/s/ Tim Thomas
	  
	 		 	  

	Signature of director	 		 	Signature of company secretary/director
			
	 MARK STEWART TUCKER
	 		 	 Tim Thomas

	Full name of director	 		 	Full name of company secretary/director

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

					
	STYRON BELGIUM BVBA,
	as a Guarantor
		
	By:	 	/s/ Frans Hordies
		 	  

		 	Name:	 	Frans Hordies
		 	Title:	 	Director/Attorney-in-fact
	
	 STYRON CANADA ULC,
 as a
Guarantor

		
	Per:	 	 /s/ Ralph Than

		 	Name:	 	Ralph Than
		 	Title:	 	President and Treasurer
	
	 STYRON FRANCE SAS,
 as a
Guarantor

	
	 /s/ Christian Page

	By:	 	Christian Page
	
	 STYRON DEUTSCHLAND GMBH,
 as
a Guarantor

		
	By:	 	 /s/ Ralf Irmert

		 	Name:	 	Ralf Irmert
		 	Title:	 	Managing Director
	
	STYRON DEUTSCHLAND
	 ANLAGENGESELLSCHAFT MBH,
 as
a Guarantor

		
	By:	 	 /s/ H.-H. Neuhaus

		 	Name:	 	H.-H. Neuhaus
		 	Title:	 	Managing Director

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 IN WITNESS WHEREOF, Styron (Hong Kong) Limited has caused this Fifth Amendment to be duly
executed and delivered as a deed, as of the date first above written. 
  

							
	 STYRON (HONG KONG) LIMITED
  

SEALED with the COMMON SEAL of STYRON (HONG KONG) LIMITED and SIGNED by Lee Chung Lok, a director, in the presence of:
	 		 	

	  
 

	 		 
	  
	 		 
	  
 [Signature of Director]

 
 Director
	 		 
	  
 

	 		 
	  
	 		 
	  
 [Signature of Witness]
	 		 
	  
 Name of Witness:
	 	  
 Law Chi Man
	 		 
	  
 Address of Witness:
	 	  
 40-50 Tsing Yi Road, Tsing Yi, Hong Kong
	 	
	  
 Occupation of Witness:
	 	  
 Secretary
	 		 	

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 IN WITNESS WHEREOF Styron Materials Ireland and Styron Investment Holdings Ireland have duly executed, and
delivered as a deed, this Fifth Amendment Agreement. 
  

					
	Given under the Common Seal of	 		 	

	STYRON MATERIALS IRELAND	 		 
	  
 

  
	 		 
	Director	 		 
	  
 

  
	 		 
	Director	 		 	
			
	Given under the Common Seal of	 		 	

	STYRON INVESTMENT HOLDINGS IRELAND	 		 
	  
 

  
	 		 
	Director	 		 
	  
 

  
	 		 
	Director	 		 

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 
					
	STYRON ITALIA S.R.L.,
	as a Guarantor
		
	By:	 	/s/ FABIO CATALDI
		 	  

		 	Name:	 	President & Managing Director
		 	Title:	 	FABIO CATALDI

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 
					
	TRINSEO S.A.,
	 as a Guarantor
  

a Société anonyme

	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg: B 153549
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Authorized Signatory
	
	 STYRON LUXCO S.À R.L.,

as a Guarantor
  

a Société à responsabilité limitée

	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg: B 153577
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Authorized Signatory
	
	TRINSEO MATERIALS S.À R.L.,
	as a Guarantor
	
	a Société à responsabilité limitée
	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 1,551,436.56
	R.C.S. Luxembourg: B 162639
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Authorized Signatory

  
 [Signature page to
Fifth Amendment to Credit Agreement] 

 
					
	STYRON HOLDING S.À R.L.,
	 as a Guarantor
  

a Société à responsabilité limitée

	Registered office: 9A rue Gabriel Lippmann
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 660,834.12
	R.C.S. Luxembourg: B 153582
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Authorized Signatory
	
	 STYRON FINANCE LUXEMBOURG S.À R.L.,

as a Guarantor
  

a Société à responsabilité limitée

	Registered office: 9A rue Gabriel Lippman
	L-5365 Munsbach, Luxembourg
	Share Capital: USD 25,001
	R.C.S. Luxembourg: B 151012
		
	By:	 	/s/ John A. Feenan
		 	  

		 	Name:	 	John A. Feenan
		 	Title:	 	Authorized Signatory

  
 [Signature page to
Fifth Amendment to Credit Agreement] 

 
					
	STYRON HOLDING B.V.,
	as a Guarantor
		
	By:	 	/s/ Frans Kempenaars
		 	  

		 	Name:	 	Frans Kempenaars
		 	Title:	 	Director
	
	 STYRON NETHERLANDS B.V.,
 as
a Guarantor

		
	By:	 	/s/ F.J.C.M. Kempenaars
		 	  

		 	Name:	 	F.J.C.M. Kempenaars
		 	Title:	 	 Director
 Styron Netherlands B.V.

		
	By:	 	/s/ F.J.A. Hordies
		 	  

		 	Name:	 	F.J.A. Hordies
		 	Title:	 	 Director
 Styron Netherlands B.V.

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

					
	The Common Seal of	  	)	  	

	  
 STYRON HOLDINGS ASIA PTE. LTD.
	  	  
 )
	  
	  

was hereunto affixed in accordance with its
	  	  
 )
	  
	  
 Articles of Association:
	  	  
 )
	  
		  		  
		  		  
		  		  
		  		  
		  		  
		  		  

  

			
	

	  

	
	Director JESSIE HENG HWEE KOON
	
	

	  

	
	Director/Secretary CAI DONG YU
		
	Address:	 	 3 Killiney Road
 #07-08/09 Winsland House 1

Singapore 239519

		
	Fax No:	 	(65) 6737-1294
		
	Attention:	 	

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

					
	The Common Seal of	  	)	  	

	  
 STYRON SINGAPORE PTE. LTD.
	  	  
 )
	  
	  

was hereunto affixed in accordance with its
	  	  
 )
	  
	  
 Articles of Association:
	  	  
 )
	  
		  		  
		  		  
		  		  
		  		  
		  		  
		  		  

  

			
	

	  

	
	Director JESSIE HENG HWEE KOON
	
	

	  

	
	Director/Secretary CAI DONG YU
		
	Address:	 	 3 Killiney Road
 #07-08/09 Winsland House 1

Singapore 239519

		
	Fax No:	 	(65) 6737-1294
		
	Attention:	 	

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 
					
	STYRON SVERIGE AB,
	as a Guarantor
		
	By:	 	/s/ Erkki Kesti
		 	  

		 	Name:	 	Erkki Kesti,
		 	Title:	 	Authorised Signatory
	
	 STYRON EUROPE GMBH,
 as a
Guarantor

		
	By:	 	 /s/ Marco Levi

		 	Name:	 	Marco Levi
		 	Title:	 	Managing Officer
	
	 STYRON UK LIMITED,
 as a
Guarantor

		
	By:	 	 /s/ Marco Levi

		 	Name:	 	Marco Levi
		 	Title:	 	
	
	 STYRON SPAIN S.L., Unipersonal

as a Guarantor

		
	By:	 	 /s/ W Bossehiates

		 	Name:	 	W Bossehiates
		 	Title:	 	Joint and Several Managing Director
		 	(Consejero Delegado Solidario)

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 
					
	DEUTSCHE BANK AG NEW YORK BRANCH,
	as Administrative Agent
		
	By:	 	/s/ Marcus M. Tarkington
		 	  

		 	Name:	 	Marcus M. Tarkington
		 	Title:	 	Director
		
	By:	 	/s/ Erin Morrissey
		 	  

		 	Name:	 	Erin Morrissey
		 	Title:	 	Director
	
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Swing Line Lender

		
	By:	 	/s/ Marcus M. Tarkington
		 	  

		 	Name:	 	Marcus M. Tarkington
		 	Title:	 	Director
		
	By:	 	/s/ Erin Morrissey
		 	  

		 	Name:	 	Erin Morrissey
		 	Title:	 	Director
	
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as a Revolving Commitment Increase Lender

		
	By:	 	/s/ Marcus M. Tarkington
		 	  

		 	Name:	 	Marcus M. Tarkington
		 	Title:	 	Director
		
	By:	 	/s/ Erin Morrissey
		 	  

		 	Name:	 	Erin Morrissey
		 	Title:	 	Director

  
 [Signature Page to
Trinseo Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	HSBC Bank USA, National Association
	
	  

		
	By:	 	/s/ David A Mandell
		 	  

		 	Name:	 	David A Mandell
		 	Title:	 	Managing Director

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	NAME OF INSTITUTION
	
	 BARCLAYS BANK PLC

		
	By:	 	/s/ Vanessa A. Kurbatskiy
		 	  

		 	Name:	 	Vanessa A. Kurbatskiy
		 	Title:	 	Vice President

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	NAME OF INSTITUTION
	
	 The Bank of Nova Scotia

		
	By	 	/s/ John Frazell
		 	  

		 	Name:	 	John Frazell
		 	Title:	 	Director
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	 Goldman Sachs Bank USA,
 as a
Revolving Commitment Increase Lender:

	
	  

		
	By:	 	/s/ Mark Walton
		 	  

		 	Name:	 	Mark Walton
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS
ADMINISTRATIVE AGENT, AND THE OTHER LENDERS PARTY THERETO

	
	NAME OF INSTITUTION
	
	 Bank of Montreal

		
	By:	 	/s/ Katherine K. Robinson
		 	  

		 	Name:	 	Katherine K. Robinson
		 	Title:	 	Vice President

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	 Sumitomo Mitsui Banking Corporation

		
	By:	 	/s/ David Kee
		 	  

		 	Name:	 	David Kee
		 	Title:	 	Managing Director

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 
					
	SIGNATURE PAGE TO THE FIFTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG TRINSEO MATERIALS OPERATING S.C.A., THE GUARANTORS, DEUTSCHE BANK AG NEW YORK BRANCH, AS ADMINISTRATIVE AGENT,
AND THE OTHER LENDERS PARTY THERETO
	
	Mizuho Corporate Bank, Ltd.
		
	By:	 	/s/ James Fayen
		 	  

		 	Name:	 	James Fayen
		 	Title:	 	Deputy General Manager

  
 [Signature Page to
Fifth Amendment to Credit Agreement] 

 Schedule I to 

Fifth Amendment to Credit Agreement 

Schedule 1.01A 
 Fifth
Amendment Commitments 
  

					
	 	  	Revolving Credit
Commitment	 
	 Deutsche Bank AG New York Branch
	  	$	49,000,000	  
	 HSBC Bank USA, National Association
	  	$	49,000,000	  
	 Barclays Bank PLC
	  	$	49,000,000	  
	 The Bank of Nova Scotia
	  	$	39,000,000	  
	 Goldman Sachs Bank USA
	  	$	39,000,000	  
	 Bank of Montreal
	  	$	25,000,000	  
	 Sumitomo Mitsui Banking Corporation
	  	$	25,000,000	  
	 Mizuho Corporate Bank, Ltd
	  	$	25,000,000	  
	 TOTAL:
	  	$	300,000,000	  

 ANNEX A 

GUARANTOR CONSENT AND REAFFIRMATION 

January 29, 2013 
 Reference
is made to (a) the Credit Agreement dated as of June 17, 2010 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), among TRINSEO MATERIALS OPERATING S.C.A. (formerly known as
STYRON S.À R.L. and TRINSEO MATERIALS OPERATING S.À R.L.), a partnership limited by shares (société en commandite par actions) organized under the laws of Luxembourg (the “Borrower”), the
Guarantors party thereto from time to time, DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent and Collateral Agent, each lender from time to time party thereto (collectively, the “Lenders” and individually, a
“Lender”) and DEUTSCHE BANK AG NEW YORK BRANCH, as L/C Issuer and Swing Line Lender and (b) the Fifth Amendment, dated as of January 29, 2013 (“Fifth Amendment”), to the Credit Agreement attached as
Exhibit A hereto. Capitalized terms used but not otherwise defined in this Guarantor Consent and Reaffirmation (this “Consent”) are used with the meanings attributed thereto in Fifth Amendment. 

Each Guarantor hereby consents to the execution, delivery and performance of the Fifth Amendment and agrees that each reference to the Credit
Agreement in the Loan Documents shall, on and after the Fifth Amendment Effective Date or the Revolving Commitment Increase Date, as applicable, be deemed to be a reference to the Credit Agreement as amended by Fifth Amendment. 

Each Guarantor hereby acknowledges and agrees that, after giving effect to each and all parts of the Fifth Amendment, all of its respective
obligations and liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by each and all parts of the Fifth Amendment, are, subject to such Guarantors limitations in accordance with
Article XI (Guarantee) of the Credit Agreement, reaffirmed, and remain in full force and effect. 
 After giving effect to each and all
parts of the Fifth Amendment, each Guarantor reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured Parties under each of the Loan Documents to which it is a party, which Liens were always intended by the parties to
secure the Obligations as amended from time to time (including any increases thereof) and shall continue in full force and effect during the term of the Credit Agreement as amended by each and all parts of the Fifth Amendment, and shall continue to
secure the Obligations (after giving effect to each and all parts of the Fifth Amendment and including any increase of such Obligations), in each case, on and subject to the terms and conditions set forth in the Credit Agreement, as amended by each
and all parts of the Fifth Amendment, and the other Loan Documents. 
 Notwithstanding anything to the contrary set out in this Consent,
until such time as all required statutory whitewash processes under Section 76(10) of the Companies Act, Chapter 50 of Singapore have been completed, each Singapore Subsidiary and each Hong Kong Subsidiary executing this Consent as a Guarantor
hereby consents, acknowledges, agrees and reaffirms as to the aforesaid matters other than in respect of the 2013 Senior Secured Notes. 

Nothing in this Consent shall create or otherwise give rise to any right to consent on the part of the Guarantors to the extent not required
by the express terms of the Loan Documents. 

 This Consent is a Loan Document and shall be governed by, and construed and interpreted in
accordance with, the law of the state of New York (without regard to conflict of laws principles other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

This Consent may be executed in counterparts, and all such counterparts taken together shall be deemed to constitute one and the same
instrument. 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Consent as of the date first set
forth above. 
  

			
	[NAMES OF GUARANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A to 

Guarantor Consent and Reaffirmation 

Fifth Amendment to the Credit Agreement 

[see attached]

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