Investor PresentationDecember 2019
Safe Harbor Statement and Other Matters
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This presentation contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of1995, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions andinclude any statement that does not directly relate to a historical or current fact. The words "believe," "expect," “will,” "anticipate," "plan," "estimate," "target,""project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made.These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, thecommencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes inenvironmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financialperformance, business plans, prospects, targets, goals and commitments, capital investments and projects, plans for dividends or share repurchases,sufficiency or longevity of intellectual property protection, cost savings targets, plans to increase profitability and growth, our ability to make acquisitions,integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, and our outlook for net sales, AdjustedEBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow, Adjusted Effective Tax Rate, and Return on Invested Capital (ROIC), all of which are subjectto substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-lookingstatements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees offuture performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Additionally, there may be other risksand uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business.Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securitiesand Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2018. Chemours assumes no obligation to reviseor update any forward-looking statement for any reason, except as required by law.
We prepare our financial statements in accordance with Generally Accepted Accounting Principles (GAAP). Within this presentation we may make referenceto Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Effective Tax Rate, Free Cash Flow, ROIC and Net LeverageRatio which are non-GAAP financial measures. The company includes these non-GAAP financial measures because management believes they are useful toinvestors in that they provide for greater transparency with respect to supplemental information used by management in its financial and operational decisionmaking. Further information with respect to and reconciliations of such measures to the nearest GAAP measure can be found in the appendix hereto.
Management uses Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Effective Tax Rate, Free Cash Flow, ROIC andNet Leverage Ratio to evaluate the company’s performance excluding the impact of certain noncash charges and other special items which we expect to beinfrequent in occurrence in order to have comparable financial results to analyze changes in our underlying business from quarter to quarter.
Additional information for investors is available on the company’s website at investors.chemours.com.
industry-leading positions to drive top-line growth of 1x-2x GDP
in our core businesses with high ROIC (+30%) projects to drive sustainable competitive advantage
our existing businesses through targeted M&A
the majority of our Free Cash Flow to shareholders over time through a growing dividend and meaningful share repurchases
the energy of the organization, generated through the transformation, to move at high velocity
Leveraging
Investing
Strengthening
Returning
Harnessing
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Chemours Investment Thesis
The Chemours Company at a Glance
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Fluoropolymers24%
Fluorochemicals24%
Performance Chemicals & Intermediates
5%
Mining Solutions
5%
Titanium Dioxide42%
Product1
North America 39%
Asia Pacific 27%
EMEA22%
Latin America12%
Geography1
See reconciliation of Non-GAAP measures in the appendix
Source: Company filings and data1. Data represents net sales for the trailing twelve months ending September 30t, 2019
Chemical Solutions Titanium Technologies($ in millions)
$68
12%0%
10%
20%
30%
40%
50%
60%
70%
0
50
100
150
200
250
300
TTM 3Q19
$553
0100200300400500600700800900
TTM 3Q19
$589
25%0%10%20%30%40%50%60%70%80%
- 200 400 600 800
1,000 1,200 1,400
TTM 3Q19
$2,402
0
500
1000
1500
2000
2500
3000
3500
TTM 3Q19
$625
23% 0%
20%
40%
60%
80%
100%
120%
140%
0200400600800
100012001400160018002000
TTM 3Q19
$2,683
0
500
1000
1500
2000
2500
3000
TTM 3Q19
Fluoroproducts
$ 1,134
20%
0%
10%
20%
30%
40%
50%
60%
-
500
1,000
1,500
2,000
2,500
3,000
TTM 3Q19
$5,638
0
1000
2000
3000
4000
5000
6000
7000
TTM 3Q19
Total ChemoursAdjusted EBITDA
Adjusted EBITDA MarginNet Sales
Adjusted EBITDA MarginNet Sales
Adjusted EBITDA MarginNet Sales
Adjusted EBITDA MarginNet Sales Adjusted EBITDA Adjusted EBITDAAdjusted EBITDA
Fluoroproducts48%Chemical
Solutions10%
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Fluoroproducts Business Summary
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BUSINESS OVERVIEW• Global market leader in Fluoroproducts• Supplies fluoropolymer products for high performance
applications across broad array of industries• Supplies fluorochemical products for air conditioning, refrigeration
and foam blowing agent markets• Brands: Teflon™, Freon™, Opteon™, Krytox™, Nafion™, Viton™
Fluoropolymers – industrial resins and specialty products and coatingsFluorochemicals – refrigerants, propellants, foam blowing agents, fire suppressantsKey end markets – air conditioning, refrigeration, automotive, electronics, communications, wire & cable, energy, consumer, oil & gas, aerospace
FINANCIAL SUMMARY
See reconciliation of Non-GAAP measures in the appendix
Source: Company filings and data1. Segment net sales on a trailing twelve-month basis ending September 30, 2019
Fluoropolymers50%
Fluorochemicals50%
Product1
North America 41%
Asia Pacific 25%
EMEA26%
Latin America8%
Geography1
$ Millions TTM3Q18
TTM3Q19 % Δ
Revenue $2,871 $2,683 (7%)
Adjusted EBITDA $777 $625 (20%)
Adj. EBITDA Margin 27% 23% (400bps)
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Fluorochemicals Long-Term Market View
Chemours Is Well Positioned to Capture Market Growth and Value for Both HFOs and Non-HFOs
Stationary Market Breakdown
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Attractive Growth in Stationary Markets Expected over Next Decade
Source: Industry trade publications, company disclosures, and company estimatesNote: CAGRs are based upon non-rounded company estimates
REVENUE
$0.3B 88% CAGR5% CAGR
$0.8B
C H I L L E R S ~$0.0B
~$0.3B~$XM
A I R C O N D I T I O N I N G
133% CAGR6% CAGR
$4.1B$2.3B~$0.0B
~$0.7B
~$1.05B
~$0.5B
2016 2025
Non-HFOs HFOs
C O M M E R C I A L R E F R I G E R AT I O N
$1.1B35% CAGR(8%) CAGR $1.2B
~$2.3B
~$0.05B
~$0.2B
~$4.0B~$0.3B
~$0.5B
~$1.05B
~$3.9B
Opteon™ Advantage - CO2 Equivalent Basis
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Opteon™ Offers Low GWP Alternatives that Meet Tightening Environmental Standards
Source: UN IPCC Fifth Assessment Report and Company estimates
Opteon™ Patent Estate
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• Our multinational portfolio includes nearly 900 patents and pending applications on HFO technology, including compositions, uses and processes of manufacture
• The earliest patents on HFO technology are expected to expire in the mid-2020’s– We continue to add to our patent
application estate• Chemours actively monitors for patent
infringement and will vigorously assert its rights under these patents, including seeking damages and injunctions to stop infringement
The Size and Scope of Our Portfolio Means Loss of Coverage from Any One Single Patent Will Not Significantly Affect Our Market Position
First Opteon™ patent expirations expected2026
2030sHundreds of Opteon™ patents remain in full force
First HFO patent expirations expected2023
Fluoropolymers Target Markets for Application Development
10Sources: McKinsey; Bain; IHS BCC, US Department of Energy, Chemours sales data and market forecasting
* $ Millions; Addressable market size based on current applications, ingredient sales only
2016 Market Size*
2016 - 2027CAGR
2027Market Size* Trends and Fluoropolymer Opportunities
$1,100
$105
$910
5%
21%
9%
$1,900
$850
$2,300
• Emission standards and fuel efficiency with internal combustion engines
• Decarbonization of transportation via alternative energy
• Active safety and infotainment
• Development of smart grid with increasing amount of renewable energy and energy storage
• Government and OEM driven alternative energy vehicles
• Growth and innovation in smart phones, wearables, IoT, artificial intelligence, etc.
• Next generation connectivity (5G), advances in circuit boards, LAN, antennas, thermal and electrical shielding
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Strong Pipeline Build Since Announcing Application Development in December 2017
Energy
Automotive
Consumer Electronics & Communication
Recent Wins and Our Application Development Pipeline
DATA CENTERS
USB-C CABLES
MOBILE DEVICEANTENNAS
HYBRID VEHICLES
ENERGY STORAGE
* Quarterly numbers based on three month average
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Chemical Solutions Business Overview
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FINANCIAL SUMMARY
Mining Solutions – sodium cyanide, hydrogen cyanidePerformance Chemicals & Intermediates –methylamines, glycolic acid, Vazo™ products, aniline, nitrobenzene
Mining Solutions
50%
Performance Chemicals & Intermediates
50%
Product1North
America 59% Asia Pacific
12%EMEA4%
Latin America25%
Geography1
BUSINESS OVERVIEW• Portfolio of industrial businesses primarily operating in the
Americas• Reputation for safety, reliability and stewardship• Three production facilities located in North America
– Memphis, TN: Mining Solutions– Belle, WV: PC&I– Pascagoula, MS: PC&I
See reconciliation of Non-GAAP measures in the appendix
Source: Company filings and data1. Segment net sales for the trailing twelve months ending September 30, 2019
$ Millions TTM 3Q18
TTM 3Q19 % Δ
Revenue $586 $553 (6%)
Adjusted EBITDA $71 $68 (4%)
Adj. EBITDA Margin 12% 12% 0bps
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Titanium Technologies Business Overview
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FINANCIAL SUMMARYBUSINESS OVERVIEW• A global leader1 in TiO2 with production capacity of 1.25 million
metric tons– 4 TiO2 plants with 7 production lines– Packaging facility at Kallo, Belgium– Mineral sands mine at Starke, FL
• Strong brand reputation– Ti-Pure™ sold to approximately 600 customers globally
• Industry-leading manufacturing cost position– Unique chloride technology – Feedstock flexibility
Coatings – architectural, industrial, automotivePlastics – rigid/flexible packaging, PVC pipe/windowsPapers – laminate papers, coated paper/paperboard, sheet
Laminates & Paper10%
Coatings67%
Plastics23%
Product2
North America 31%
Asia Pacific 33%
EMEA22%
Latin America14%
Geography3
See reconciliation of Non-GAAP measures in the appendix
Source: Company filings and data1. TiO2 market share statistics based on production capacity per 2017 TZMI
2. Segment net sales for the three months ending September 30, 2019; excludes non-TiO2 sales3. Segment net sales for the trailing twelve months ending September 30, 2019; excludes non-TiO2 sales
$ Millions TTM 3Q18
TTM 3Q19 % Δ
Revenue $3,292 $2,402 (27%)
Adjusted EBITDA $1,118 $589 (47%)
Adj. EBITDA Margin 34% 25% (900bps)
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Ti-Pure™ Value Stabilization
CHEMOURS’ VISION• We absorb the demand variance in our
customers’ marketplace, while holding value-based pricing for Ti-Pure™ products
• Reduced business volatility stabilizes Chemours’ cash generation and enables more consistent capacity planning to serve our customers
• We can support and grow our investment in new offerings over time, enhancing growth option for our customers
• Our customers can focus their efforts on market growth and avoid the distracting seesaw of “can I get the TiO2 I need?” or “how high will the price go?”
CHEMOURS’ APPROACH• Create contractual relationships which support a more
stable customer-Chemours relationship• Improve our manufacturing flexibility and capacity to
economically respond to both decreases and increases in our customers’ sales which vary their requirements for Ti-Pure™ TiO2
• Deliver value from a sustained investment in market insights and new offering development
Manufacturing& Supply
Assurance New
Ti-Pure™ Commercial Framework(AVA + Flex)
New Offerings
ChemoursTi-Pure™
Value Stabilization
(TVS)
Ti-Pure™ Value Stabilization is Expected to Reduce Volatility for Chemours and Provide More Predictability for our Customers
Value to Customers
• Predictable pricing enables improved supply chain planning
• Reduces need to build and hold excess inventory
• Provides volume certainty over time
Value to Chemours
• Provides more stable earnings
• Enhances ability to plan for capacity adds to meet growing customer demand
• Allows for investments in new offerings to better support customers’ needs
Ti-Pure™ Value Stabilization is a Win-Win
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2019 Outlook1
AdjustedEBITDA $1.00 - $1.15 Billion
AdjustedEPS $2.37 - $3.08
1 Subject to risks, uncertainties and assumptions, all of which are described in our public filings and safe harbor statement,
TT earnings impacted by share loss due to weaker market demand and anticipated slower share recovery in the second half of 2019 resulting in a $200M impact
Fluoroproducts Earnings expected to be lower by $125M related to illegal imports
of HFC refrigerants into the EU Operating issues partially offset by productivity and weaker
Fluoropolymer volumes due to market softness in the second half expected to reduce earnings by an additional $75M
Changes in Outlook Relative to Guidance Mid-Point1
See reconciliation of Non-GAAP measures in the Appendix
Free Cash Flow ~$100 Million
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Capex ~$500 Million
ShareRepurchases $1 Billion Authorization
Delivering earnings and cash flow… …While investing to create long-term shareholder value
Outlook was provided on August 2, 2019 and is not being updated or confirmed at this time
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DuPont Lawsuit
• Chemours seeks judgment limiting DuPont’s indemnification to maximums DuPont itself established for
Chemours at spin or, in the alternative, return of the $4B extracted at spin
• Chemours is on solid financial footing, a result of hard choices made by management and the tireless
work of the 7,000 men and women of Chemours
• We remain committed to proactively addressing historical environmental issues handed to us at spin and
being a good partner to the communities we operate in
• We believe our future is bright. Our intention is to preserve and protect the rights of Chemours and all
of our stakeholders
Corporate Responsibility Commitment
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Clarifying Fluorine Chemistry
PFAS is a broad term encompassing a number of substances produced for a variety of industries and products. Two of these substances, which have been the subject of study and frequent media and public discussion, are PFOS and PFOA
• PFOS and PFOA are the subject of Drinking Water Health Advisories issued by the EPA
• PFOS: Neither Chemours nor DuPont has made or sold PFOS as a commercial product or used PFOS as a processing aid
• PFOA:
• Chemours understands that DuPont made PFOA, from 2002-2013, for use at its own fluoropolymer sites
• Chemours understands that DuPont did not manufacture PFOA as a commercial product
• Chemours has never made or sold PFOA as a commercial product, or used PFOA as a processing aid
• GenX: A processing aid used in the manufacture of some fluoropolymers where PFOA was used previously. Manufactured and recycled at Chemours’ Fayetteville, North Carolina site pursuant to Consent Order with EPA and used to manufacture fluoropolymers. Studies have shown that GenX is not biopersistent in the body.
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AFFF / Fire-Fighting Foams
• PFOS was the dominant chemistry in the Fire-fighting Foams industry for decades
• Neither Chemours, nor DuPont before it, made or sold PFOS
• Chemours’ potential contribution to PFOA in the environment from our ingredients used in fire-fighting foams is
negligible, if at all
• Chemours has never manufactured or formulated fire-fighting foams
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Reconciliations
Segment Net Sales and Adjusted EBITDA (Unaudited)
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($ in millions) Year EndedDecember 31,
2019 2018 2018
SEGMENT NET SALESFluoroproducts 2,683$ 2,871$ 2,862$ Chemical Solutions 553 586 602 Titanium Technologies 2,402 3,292 3,174
Total Company 5,638$ 6,749$ 6,638$
SEGMENT ADJUSTED EBITDAFluoroproducts 625$ 777$ 783$ Chemical Solutions 68 71 64 Titanium Technologies 589 1,118 1,055 Corporate and Other (148) (172) (162)
Total Company 1,134$ 1,794$ 1,740$
SEGMENT ADJUSTED EBITDA MARGINFluoroproducts 23.3% 27.1% 27.4%Chemical Solutions 12.3% 12.1% 10.6%Titanium Technologies 24.5% 34.0% 33.2%Corporate and Other 0.0% 0.0% 0.0%
Total Company 20.1% 26.6% 26.2%
Twelve Months Ended September 30,
Adjusted EBITDA to GAAP Income (Loss) Before Income Taxes Reconciliation (Unaudited)
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($ in millions)2018 2017 2016 2015
Income (loss) before income taxes 1,155$ 912$ (11)$ (188)$ Interest expense, net 195 214 219 132 Depreciation and amortization 284 273 284 267 Non-operating pension and other post-retirement employee benefit income (27) (34) (20) (3) Exchange (gains) losses, net (1) (3) 57 (19) Restructuring, asset-related, and other charges 49 57 170 333 Loss (gain) on extinguishment of debt 38 1 (6) — (Gain) loss on sales of assets and businesses (45) (22) (254) 9 Transaction costs 9 3 19 9 Legal charges 82 9 343 8 Other charges 1 12 21 25Adjusted EBITDA 1,740$ 1,422$ 822$ 573$
Year Ended December 31,
Adjusted EBITDA to GAAP Income (Loss) Before Income Taxes Reconciliation (Unaudited)
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($ in millions)2019 2018
Income before income taxes 513$ 1,236$ Interest expense, net 203 201 Depreciation and amortization 303 281 Non-operating pension and other post-retirement employee benefit income (14) (28) Exchange (gains) losses, net (7) 4 Restructuring, asset-related, and other charges 67 58 Loss on extinguishment of debt — 38 Gain on sales of assets and businesses (11) (53) Transaction costs 1 9 Legal charges 78 46 Other charges 1 2 Adjusted EBITDA 1,134$ 1,794$
Twelve Months Ended September 30,
Estimated GAAP Net Income Attributable to Chemours to Adjusted Net Income, Adjusted EBITDA and Adjusted EPS Reconciliations (Unaudited)
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Estimated GAAP Cash Flows Provided by Operating Activities to Free Cash Flows Reconciliations (Unaudited)
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($ in millions unless otherwise noted) (Estimated)Year Ended December 31,
2019Cash provided by operating activities $ ~ 600Less: Purchases of property, plant, and equipment ~ (500)Free Cash Flows $ ~ 100
The Company’s estimates reflect its current visibility and expectations based on market factors, such as currency movements, macro-economic factors, and end-market demand. Actual results could differ materially from these current estimates.
27©2018 The Chemours Company. Chemours™ and the Chemours Logo are trademarks or registered trademarks of The Chemours Company