Ingevity receives clearance from U.S. Federal Trade Commission for acquisition of Georgia-Pacific’s pine chemicals business

March 1, 2018

NORTH CHARLESTON, S.C.–(BUSINESS WIRE)–$NGVT–Ingevity Corporation (NYSE: NGVT) today announced that the U.S. Federal
Trade Commission (FTC) has cleared Ingevity’s proposed acquisition of
Georgia-Pacific’s pine chemicals business, which was announced on August
22, 2017. Ingevity expects to close on the transaction in the first
quarter of 2018.

Georgia-Pacific’s pine chemicals business manufactures and sells
pine-based tall oil fatty acids, tall oil rosin, and tall oil rosin
esters used in adhesives, cleaners, paints and other coatings, inks,
metalworking, mining, oilfield, packaging and rubber processing. The
business manufactures the majority of its products at a Georgia-Pacific
site in Crossett, Ark., and employs approximately 70 people.

“We’re pleased to have received clearance from the FTC,” said Michael
Wilson, Ingevity CEO and president. “We are proceeding with this
acquisition as planned. It will bring significant benefits to our
customers and shareholders. The team at Georgia-Pacific has been great
to work with, and we look forward to having them join our company to
build a better, stronger pine chemicals business.”

Ingevity: Purify, Protect and Enhance

Ingevity provides specialty chemicals and high-performance carbon
materials and technologies that purify, protect and enhance the world
around us. Through a team of talented and experienced people, Ingevity
develops, manufactures and brings to market products and processes that
help customers solve complex problems. These products are used in a
variety of demanding applications, including asphalt paving, oil
exploration and production, agrochemicals, adhesives, lubricants,
printing inks and automotive components that reduce gasoline vapor
emissions. Headquartered in North Charleston, S.C., Ingevity operates
from 25 locations around the world and employs approximately 1,500
people. The company is traded on the New York Stock Exchange (NYSE:
NGVT). For more information, visit www.ingevity.com.

Forward-Looking Statements

This news release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward looking statements generally include the words “may,” “could,”
“should,” “believes,” “plans,” “intends,” “targets,” “will,” “expects,”
“suggests,” “anticipates,” “outlook,” “continues,” “forecast,”
“prospect,” “potential” or similar expressions. Forward-looking
statements may include, without limitation, expected financial
positions, results of operations and cash flows; financing plans;
business strategies and expectations; operating plans; synergies and the
potential benefits of the acquisition of Georgia-Pacific’s pine
chemicals business; the anticipated timing of the closing of the
acquisition; capital and other expenditures; competitive positions;
growth opportunities for existing products; benefits from new technology
and cost-reduction initiatives, plans and objectives; and markets for
securities. Like other businesses, Ingevity is subject to risks and
uncertainties that could cause its actual results to differ materially
from its expectations or that could cause other forward-looking
statements to prove incorrect. Factors that could cause actual results
to materially differ from those contained in the forward-looking
statements, or that could cause other forward-looking statements to
prove incorrect, include, without limitation, risks related to the
satisfaction of the conditions to closing the acquisition (including the
failure to obtain necessary regulatory approvals) in the anticipated
timeframe or at all; risks that the expected benefits from the proposed
acquisition will not be realized or will not be realized within the
expected time period; the risk that the businesses will not be
integrated successfully; significant transaction costs; unknown or
understated liabilities; general economic and financial conditions;
international sales and operations; currency exchange rates and currency
devaluation; compliance with U.S. and foreign regulations; attracting
and retaining key personnel; conditions in the automotive market or
adoption of alternative technologies; worldwide air quality standards;
government infrastructure spending; declining volumes in the printing
inks market; the limited supply of crude tall oil (“CTO”); lack of
access to sufficient CTO; access to and pricing of raw materials;
competition from producers of substitute products and new technologies;
a prolonged period of low energy prices; the provision of services by
third parties at several facilities; natural disasters, such as
hurricanes, winter or tropical storms, earthquakes, floods, fires; other
unanticipated problems such as labor difficulties including renewal of
collective bargaining agreements, equipment failure or unscheduled
maintenance and repair; protection of intellectual property and
proprietary information; information technology security risks;
government policies and regulations, including, but not limited to,
those affecting the environment, climate change, tax policies and the
chemicals industry; and lawsuits arising out of environmental damage or
personal injuries associated with chemical or other manufacturing
processes. These and other important factors that could cause actual
results or events to differ materially from those expressed in
forward-looking statements that may have been made in this document are
and will be more particularly described in our filings with the U.S.
Securities and Exchange Commission, including our Form 10-K for the year
ended December 31, 2017 and our other periodic filings. Readers are
cautioned not to place undue reliance on Ingevity’s projections and
forward-looking statements, which speak only as the date thereof.
Ingevity undertakes no obligation to publicly release any revision to
the projections and forward-looking statements contained in this
presentation, or to update them to reflect events or circumstances
occurring after the date of this release.