The Trevira Turnaround Story

10th January 2014

Two German sites, two focused operations

Successful restructuring, ongoing performance enhancement

2

Bobingen 2013 Staple Fibres

Capacity 70,000 TPA

Typical lot sizes 20 to200 MT

RM Delta 81,833 $K

Guben 2013 Filament

Capacity 20,000 TPA

Spinning from 22 to 425 dtex, incl. spun-dyed;

Texturizing up to 4000 dtex

RM Delta 66,567 $K

Bottom-line growth powered by Specialtiesand sustainable productivity improvements

3

2010A 2013E

EBITDA in $ mn

12.5

PastUnprofitable product mixLow efficiencyInsolvency

PresentInnovationProductivity

4.0

TurnaroundTakeover by IVLSpecialty focusCost improvement

Focused approach post IVL acquisition

4

Staple Fibres

“The global innovation engine”Focus on high-margin productsBest in Class innovation (incl. NDA)Partnering with global leaders (P&G, KC, etc.)Cost saving programs

Filament

“Fit for European competition”Consolidation in one siteWorkflow optimizationOutsourcing activitiesMargin-driven portfolio management

Corporate Synergies

“Benefit from scale economies”Culture of respect & teamworkTechnical expertiseCommercial excellenceFinancial strength

Our position in strategic markets we serve

5

Automotive

“Tailored solutions”Predominantly in Europe,“Asian-proof” (grades, lot sizes)$ 13 mn identified projects (Asia, Latin America, European OEMs)

Hygiene

“Customized Bico Fibres”Specialist FemCare70% to global leaders$ 26 mn identified potential(East Europe, Latin America)

$ mn*

9898

*Net revenue 2013E

5353 4141

Industrial

“Unique customer solutions”Strong, global dynamics, customer projects, further growth in NA, Latin AmericaNew PLA segment app. $ 40 mn revenue

Trevira CS

“The leading FR brand”Specialized services,push and pull marketingNew markets in Asia, Mid-East, $ 20 mn with int’l key accountsInnovation (e.g UV stabilized)

6262

6

Raw Material Margin Delta($mn per year)

$/ton

VolumeKT per year

Growth mainly driven by innovation in Home and Industrial

2010A 2013E

Financial performance

7

Sales Volume KT 111 105

Net Sales $ mn 317.5 331.2

EBITDA $ mn 4.0 12.5

EBIT $ mn -4.5 5.8

Capital Employed $ mn 84.2 67.2

ROCE % -5.4% 8.6%