• Like BASF, but focused on specialized industrial chemicals and advanced materials.
• A focused version of Dow Chemical, supplying chemical building blocks to diverse industries.

• Polyurethane Chemicals: Includes methyl diphenyl diisocyanate (MDI), polyols, and thermoplastic polyurethanes (TPU) vital for insulation, automotive, and construction industries.
• Amines and Maleic Anhydrides: Versatile chemical intermediates used across various sectors for products like detergents, fuels, and resins.
• Advanced Materials Formulations: Comprises epoxy, acrylic, and polyurethane polymer formulations, high-performance resins, and additives for demanding applications in aerospace, automotive, and electronics.
• Textile Chemicals and Dyes: Specialized products provided to the textile industry for fabric treatment, coloring, and finishing.

Huntsman Corporation (HUN) sells its differentiated organic chemical products primarily to other companies, rather than directly to individuals. Due to the broad nature of its product portfolio and extensive, diversified customer base across numerous industries globally, Huntsman does not publicly disclose specific names of its major customers by name and stock symbol. It is common for diversified chemical manufacturers to supply thousands of customers, with no single customer representing a significant, reportable portion (e.g., >10%) of their overall revenue.

Huntsman's products are utilized as intermediate materials or components by manufacturers in a wide range of end markets. Therefore, its customers are companies operating within, but not limited to, the following sectors:

• Manufacturers of adhesives
• Companies in the aerospace industry
• Manufacturers of automotive components
• Producers of construction products
• Manufacturers of durable and non-durable consumer products
• Companies in the electronics sector
• Manufacturers of insulation materials
• Companies in the medical industry
• Producers of packaging materials
• Manufacturers of coatings
• Companies involved in power generation
• Companies in the refining industry
• Producers of synthetic fibers
• Manufacturers of textile chemicals and dyes

Peter R. Huntsman, Chairman of the Board, President and Chief Executive Officer

Mr. Huntsman has served as the Chief Executive Officer and President of Huntsman Corporation since July 2000, and as Chairman of the Board since 2018. He joined Huntsman Polypropylene Corporation as a Vice President in 1987 and was President and Chief Operating Officer from 1994 to 2000. His father, Jon Huntsman Sr., founded Huntsman Corporation. Mr. Huntsman previously held leadership roles at Olympus Oil, Huntsman Chemical Corporation, and Huntsman Packaging Corporation, a former subsidiary. He has been instrumental in portfolio optimization, governance refresh, and cost programs, overseeing more than 25 acquisitions and over $500 million in cost initiatives.

Philip M. Lister, Executive Vice President and Chief Financial Officer

Mr. Lister was appointed Executive Vice President and Chief Financial Officer in July 2021. He has spent his entire 25-year career with Huntsman or its predecessors, beginning in the polyurethanes division of Imperial Chemical Industries, which Huntsman acquired in 1999. Before becoming CFO, he served as Vice President of Corporate Development from May 2019 to June 2021. In this role, he successfully completed a series of acquisitions and dispositions valued at over $3.5 billion, significantly transforming the company's portfolio.

Amy Smedley, Executive Vice President, General Counsel and Corporate Secretary

Ms. Smedley was appointed to her current position in January 2026. She first joined Huntsman in 2006, serving as Vice President and Deputy General Counsel before her departure in 2022 to become Executive Vice President and Chief Legal Officer for Savage Companies. Her prior experience includes practicing law at Snell & Wilmer L.L.P. and clerking for a U.S. Bankruptcy Judge.

Jan Buberl, Division President, Performance Products

Mr. Buberl serves as the President of the Huntsman Performance Products Division. Previously, he was Vice President of Huntsman Polyurethanes, Americas, and a director for Huntsman's joint venture with Sinopec for PO/MTBE in China. His career also includes time at Venator (formerly Huntsman Pigments) and sixteen years with BASF, where he held various global roles, including leading the development of BASF's North American corporate strategy.

Steen Weien Hansen, Division President, Polyurethanes

Mr. Hansen was appointed Division President of Polyurethanes in June 2025. Prior to this role, he served as Senior Vice President, Global Automotive and Global Elastomers for the Polyurethanes Division since January 2022. He also held positions as Vice President, EAMEI for the Polyurethanes Division and Vice President, Asia Pacific for the Advanced Materials Division.

The key risks to Huntsman Corporation's business include a significant cyclical downturn in its core end markets and global oversupply in its key product segments, high leverage and financial instability, and the volatility of raw material and energy costs.

1. Cyclical Downturn in Key End Markets and Global Oversupply: Huntsman Corporation is significantly exposed to cyclical downturns in its primary end markets, such as construction, automotive, and electronics, which negatively impact demand for its chemical products. This exposure has led to declining revenues and profitability. The company's core polyurethanes business, in particular, faces challenging conditions due to this downturn and a persistent global oversupply in polyurethanes and methyl diphenyl diisocyanate (MDI) markets, leading to pressure on pricing and margins.
2. High Leverage and Financial Instability: Huntsman exhibits a high level of debt and faces concerns regarding its financial stability. The company's financial metrics indicate declining profitability and operational challenges, with a low Altman Z-Score placing it in a distress zone, suggesting a potential risk of financial instability. High net debt relative to EBITDA also raises concerns about refinancing capabilities and potential breaches of lending agreements if profits do not improve.
3. Raw Material and Energy Cost Volatility: As a chemical manufacturer, Huntsman's profitability is highly sensitive to the volatile costs and availability of raw materials and energy. Fluctuations in these input costs, including high energy costs in regions like Europe, can significantly increase operational expenses and reduce margins, especially if the company is unable to pass these increases on to customers through higher selling prices.

A rapid acceleration in demand for bio-based chemicals and materials, as well as those derived from advanced chemical recycling, driven by stricter environmental regulations and increasingly stringent corporate sustainability targets from major end-use customers. This trend challenges Huntsman's predominantly fossil-fuel-based product portfolio across segments like Polyurethanes, Performance Products, and Advanced Materials, potentially leading to market share erosion if the company is unable to rapidly innovate and scale cost-competitive, high-performance alternatives.

Huntsman Corporation (HUN) is focusing on several key drivers to spur future revenue growth over the next two to three years:

1. Recovery in Key End Markets: Huntsman anticipates a gradual recovery in North American homebuilding and durable goods sectors, along with an improvement in Chinese domestic markets. The company has also observed early indications of improved volumes and pricing in Europe, although acknowledging these increases are still in nascent stages.
2. New Product Development and Innovation: The company plans to drive growth by securing new business through innovation and the development of new products. This includes expanding its material usage and capabilities within the aerospace, power generation, and rapidly evolving automotive industries. Specifically, Huntsman is prioritizing higher-value methyl diphenyl diisocyanate (MDI) grades through its new MDI splitter in Geismar, Louisiana, which will support markets such as spray foam, appliance, and construction insulation. Additionally, new Araldite epoxy formulations are being introduced for transportation lightweighting, aerospace composites, wind blade repair, and for electric vehicle (EV) battery enclosures, e-motors, and power electronics.
3. Capacity Optimization and Upgrades: Huntsman aims to maximize its capacities and upgrade materials, particularly through its MDI splitter in Geismar. The company is also implementing capacity increases for high-purity amines, which are utilized in the tech industry and catalysts.
4. Strategic Mergers, Acquisitions, and Industry Consolidation: Huntsman is actively seeking and prepared to capitalize on opportunities for mergers, joint ventures, and industry consolidation as market dynamics evolve. The company is also open to bolt-on mergers and acquisitions that enhance technology, application, or regional access, while simultaneously divesting underperforming assets.
5. Targeted Price Increases: The company has been working to implement multiple price increases across its portfolio. Specifically, Huntsman is initiating a series of price increases in the European market to counteract ongoing pricing pressures in that region.