EU Chemicals – Weekly Barometer: Valuation and Investor Positioning Overview

Research evidence excerpt

EU Chemicals – Weekly Barometer: Valuation and Investor Positioning Overview

AG,Croda International PLC,DSM-Firmenich AG,Evonik,Givaudan AG,ICL Group Ltd,Kerry

Group,Lanxess,Novonesis,OCI,Solvay SA,Syensqo,Symrise AG,Umicore NV/SA,Wacker Chemie AG,Yara International.

Citigroup Global Markets Inc. and/or its affiliates has a significant financial interest in relation to Air Liquide,Akzo Nobel

NV,Arkema,BASF SE,Clariant AG,DSM-Firmenich AG,Evonik,Givaudan AG,ICL Group Ltd,Kerry

Group,Lanxess,Novonesis,Solvay SA,Syensqo,Yara International. (For an explanation of the determination of significant

financial interest, please refer to the policy for managing conflicts of interest which can be found at www.citiVelocity.com.)

Analysts’ compensation is determined by Citi Research management and Citigroup’s senior management and is based upon

activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates (the “Firm”).

Compensation is not linked to specific transactions or recommendations. Like all Firm employees, analysts receive

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institutional clients and the management teams of covered companies. Typically, company management is more likely to

participate when the analyst has a positive view of the company.

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