LANXESS Solutions US (CEMJQ) 8-K Chemtura ReportsThird Quarter2013 Financial Results

Exhibit 99.2

CHEMTURA CORPORATION 

 Index of Financial Schedules 

	Page
GAAP and Managed Basis Consolidated Statements of Operations (Unaudited):
Years ended December 31, 2009 and 2010		1
Quarters ended March 31, 2011 and June 30, 2011		2
Quarters ended September 30, 2011 and December 31, 2011		3
Year ended December 31, 2011		4
Quarters ended March 31, 2012 and June 30, 2012		5
Quarters ended September 30, 2012 and December 31, 2012		6
Year ended December 31, 2012		7
Quarters ended March 31, 2013 and June 30, 2013		8
Six months ended June 30, 2013		9
GAAP and Managed Basis Segment Net Sales and Operating Profit (Loss) (Unaudited):
Years ended December 31, 2009 and 2010		10
Quarters ended March 31, 2011 and June 30, 2011		11
Quarters ended September 30, 2011 and December 31, 2011		12
Year ended December 31, 2011		13
Quarters ended March 31, 2012 and June 30, 2012		14
Quarters ended September 30, 2012 and December 31, 2012		15
Year ended December 31, 2012		16
Quarters ended March 31, 2013 and June 30, 2013		17
Six months ended June 30, 2013		18
Corporate Stranded Costs		19

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Year ended December 31, 2009									Year ended December 31, 2010
	GAAP			Managed Basis Adjustments			Managed Basis			GAAP			Managed Basis Adjustments			Managed Basis
Net sales	$	1,536		$	-		$	1,536		$	1,914		$	-		$	1,914
Cost of goods sold		1,150			(1	)		1,149			1,454			(3	)		1,451
Gross profit		386			1			387			460			3			463
Gross profit %		25	%					25	%		24	%					24	%
Selling, general and administrative		219			(1	)		218			249			(5	)		244
Depreciation and amortization		121			(2	)		119			136			(28	)		108
Research and development		29			-			29			36			-			36
Facility closures, severance and related costs		3			(3	)		-			1			(1	)		-
Antitrust costs		10			(10	)		-			-			-			-
Gain on sale of business		-			-			-			(2	)		2			-
Impairment charges		2			(2	)		-			57			(57	)		-
Changes in estimates related to expected allowable claims		73			(73	)		-			35			(35	)		-
Equity loss (income)		2			-			2			(2	)		-			(2	)
Operating (loss) income		(73	)		92			19			(50	)		127			77
Interest expense		(70	)		-			(70	)		(191	)		137			(54	)
Loss on early extinguishment of debt		-			-			-			(88	)		88			-
Other expense, net		(10	)		-			(10	)		(7	)		-			(7	)
Reorganization items, net		(97	)		97			-			(303	)		303			-
(Loss) earnings from continuing operations before income taxes		(250	)		189			(61	)		(639	)		655			16
Income tax (expense) benefit		(14	)		35			21			(15	)		9			(6	)
(Loss) earnings from continuing operations		(264	)		224			(40	)		(654	)		664			10
(Loss) earnings from discontinued operations, net of tax		(25	)		25			-			81			(81	)		-
Loss on sale of discontinued operations, net of tax		(3	)		3			-			(12	)		12			-
Net (loss) earnings		(292	)		252			(40	)		(585	)		595			10
Less: Net earnings attributable to non-controlling interests		(1	)		1			-			(1	)		1			-
Net (loss) earnings attributable to Chemtura	$	(293	)	$	253		$	(40	)	$	(586	)	$	596		$	10
Basic and diluted per share information - attributable to Chemtura:
(Loss) earnings from continuing operations, net of tax	$	(1.08	)				$	(0.16	)	$	(2.94	)				$	0.04
(Loss) earnings from discontinued operations, net of tax		(0.11	)					-			0.36						-
Loss on sale of discontinued operations, net of tax		(0.01	)					-			(0.05	)					-
Net (loss) earnings	$	(1.20	)					(0.16	)	$	(2.63	)				$	0.04
Weighted average shares outstanding - Basic		242.9						242.9			223.0						223.0
Weighted average shares outstanding - Diluted		242.9						242.9			223.0						223.0
Managed Basis Adjustments consist of the following:
Other operational adjustments				$	2								$	8
Accelerated depreciation of property, plant and equipment					2									28
Facility closures, severance and related costs					3									1
Antitrust costs					10									-
Gain on sale of business					-									(2	)
Impairment charges					2									57
Changes in estimates related to expected allowable claims					73									35
Post-petition interest expense on allowable claims					-									137
Loss on early extinguishment of debt					-									88
Reorganization items, net					97									303
Pre-tax					189									655
Adjustment to apply a Managed Basis effective tax rate					35									9
Earnings from discontinued operations, net of tax					25									(81	)
Loss on sale of discontinued operations, net of tax					3									12
Non-controlling interests - Discontinued Operations					1									1
After-tax				$	253								$	596
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	(73	)							$	(50	)
Other operational adjustments								2									8
Accelerated depreciation of property, plant and equipment								2									28
Facility closures, severance and related costs								3									1
Antitrust costs								10									-
Gain on sale of business								-									(2	)
Impairment charges								2									57
Changes in estimates related to expected allowable claims								73									35
Operating income - Managed Basis								19									77
Depreciation and amortization - Managed Basis								119									108
Non-cash stock-based compensation expense								2									8
Adjusted EBITDA							$	140								$	193

1

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Quarter ended March 31, 2011									Quarter ended June 30, 2011
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	519		$	-		$	519		$	606		$	-		$	606
Cost of goods sold		388			-			388			442			1			443
Gross profit		131			-			131			164			(1	)		163
Gross profit %		25	%					25	%		27	%					27	%
Selling, general and administrative		63			-			63			72			-			72
Depreciation and amortization		28			(1	)		27			25			-			25
Research and development		9			-			9			9			-			9
Facility closures, severance and related costs		-			-			-			-			-			-
Gain on sale of business		-			-			-			-			-			-
Impairment charges		2			(2	)		-			1			(1	)		-
Changes in estimates related to expected allowable claims		-			-			-			1			(1	)		-
Equity loss (income)		1			-			1			(1	)		-			(1	)
Operating income		28			3			31			57			1			58
Interest expense		(16	)		-			(16	)		(16	)		-			(16	)
Loss on early extinguishment of debt		-			-			-			-			-			-
Other income, net		1			-			1			-			-			-
Reorganization items, net		(7	)		7			-			(6	)		6			-
Earnings from continuing operations before income taxes		6			10			16			35			7			42
Income tax expense		(1	)		(3	)		(4	)		8			(20	)		(12	)
Earnings from continuing operations		5			7			12			43			(13	)		30
Earnings from discontinued operations, net of tax		2			(2	)		-			27			(27	)		-
Net earnings		7			5			12			70			(40	)		30
Less: Net earnings attributable to non-controlling interests		-			-			-			(1	)		1			-
Net earnings attributable to Chemtura	$	7		$	5		$	12		$	69		$	(39	)	$	30
Basic and diluted per share information - attributable to Chemtura:
Earnings from continuing operations, net of tax	$	0.05					$	0.12		$	0.43					$	0.30
Earnings from discontinued operations, net of tax		0.02						-			0.26						-
Net earnings	$	0.07					$	0.12		$	0.69					$	0.30
Weighted average shares outstanding - Basic		100.1						100.1			100.3						100.3
Weighted average shares outstanding - Diluted		100.1						100.1			100.5						100.5
Managed Basis Adjustments consist of the following:
Accelerated recognition of asset retirement obligations				$	-								$	(1	)
UK pension benefit matter					-									-
Loss on disposal of assets					-									-
Accelerated depreciation of property, plant and equipment					1									-
Facility closures, severance and related costs					-									-
Gain on sale of business					-									-
Impairment charges					2									1
Changes in estimates related to expected allowable claims					-									1
Loss on early extinguishment of debt					-									-
Release of translation adjustments from liquidation of entities					-									-
Reorganization items, net					7									6
Pre-tax					10									7
Adjustment to apply a Managed Basis effective tax rate					(3	)								(20	)
Earnings from discontinued operations, net of tax					(2	)								(27	)
Non-controlling interests - Discontinued Operations					-									1
After-tax				$	5								$	(39	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	28								$	57
Accelerated recognition of asset retirement obligations								-									(1	)
UK pension benefit matter								-									-
Loss on disposal of assets								-									-
Accelerated depreciation of property, plant and equipment								1									-
Facility closures, severance and related costs								-									-
Gain on sale of business								-									-
Impairment charges								2									1
Changes in estimates related to expected allowable claims								-									1
Operating income - Managed Basis								31									58
Depreciation and amortization - Managed Basis								27									25
Non-cash stock-based compensation expense								8									6
Adjusted EBITDA							$	66								$	89

2

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Quarter ended September 30, 2011									Quarter ended December 31, 2011
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	568		$	-		$	568		$	491		$	-		$	491
Cost of goods sold		435			-			435			361			(1	)		360
Gross profit		133			-			133			130			1			131
Gross profit %		23	%					23	%		26	%					27	%
Selling, general and administrative		67			(1	)		66			67			(8	)		59
Depreciation and amortization		26			-			26			24			(1	)		23
Research and development		9			-			9			9			-			9
Facility closures, severance and related costs		-			-			-			3			(3	)		-
Gain on sale of business		-			-			-			(27	)		27			-
Impairment charges		-			-			-			1			(1	)		-
Changes in estimates related to expected allowable claims		-			-			-			2			(2	)		-
Equity loss		-			-			-			1			-			1
Operating income		31			1			32			50			(11	)		39
Interest expense		(16	)		-			(16	)		(15	)		-			(15	)
Loss on early extinguishment of debt		-			-			-			-			-			-
Other (expense) income, net		(1	)		-			(1	)		1			-			1
Reorganization items, net		(6	)		6			-			-			-			-
Earnings from continuing operations before income taxes		8			7			15			36			(11	)		25
Income tax expense		(11	)		7			(4	)		(13	)		5			(8	)
(Loss) earnings from continuing operations		(3	)		14			11			23			(6	)		17
Earnings from discontinued operations, net of tax		12			(12	)		-			11			(11	)		-
Net earnings		9			2			11			34			(17	)		17
Less: Net loss attributable to non-controlling interests		-			-			-			-			-			-
Net earnings attributable to Chemtura	$	9		$	2		$	11		$	34		$	(17	)	$	17
Basic and diluted per share information - attributable to Chemtura:
(Loss) earnings from continuing operations, net of tax	$	(0.03	)				$	0.11		$	0.23					$	0.17
Earnings from discontinued operations, net of tax		0.12						-			0.11						-
Net earnings	$	0.09					$	0.11		$	0.34					$	0.17
Weighted average shares outstanding - Basic		100.3						100.3			99.6						99.6
Weighted average shares outstanding - Diluted		100.5						100.5			100.1						100.1
Managed Basis Adjustments consist of the following:
Accelerated recognition of asset retirement obligations				$	-								$	1
UK pension benefit matter					-									8
Loss on disposal of assets					1									-
Accelerated depreciation of property, plant and equipment					-									1
Facility closures, severance and related costs					-									3
Gain on sale of business					-									(27	)
Impairment charges					-									1
Changes in estimates related to expected allowable claims					-									2
Loss on early extinguishment of debt					-									-
Release of translation adjustments from liquidation of entities					-									-
Reorganization items, net					6									-
Pre-tax					7									(11	)
Adjustment to apply a Managed Basis effective tax rate					7									5
Earnings from discontinued operations, net of tax					(12	)								(11	)
Non-controlling interests - Discontinued Operations					-									-
After-tax				$	2								$	(17	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	31								$	50
Accelerated recognition of asset retirement obligations								-									1
UK pension benefit matter								-									8
Loss on disposal of assets								1									-
Accelerated depreciation of property, plant and equipment								-									1
Facility closures, severance and related costs								-									3
Gain on sale of business								-									(27	)
Impairment charges								-									1
Changes in estimates related to expected allowable claims								-									2
Operating income - Managed Basis								32									39
Depreciation and amortization - Managed Basis								26									23
Non-cash stock-based compensation expense								6									4
Adjusted EBITDA							$	64								$	66

3

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Year ended December 31, 2011
		GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	2,184		$	-		$	2,184
Cost of goods sold		1,626			-			1,626
Gross profit		558			-			558
Gross profit %		26	%					26	%
Selling, general and administrative		269			(9	)		260
Depreciation and amortization		103			(2	)		101
Research and development		36			-			36
Facility closures, severance and related costs		3			(3	)		-
Gain on sale of business		(27	)		27			-
Impairment charges		4			(4	)		-
Changes in estimates related to expected allowable claims		3			(3	)		-
Equity loss		1			-			1
Operating income		166			(6	)		160
Interest expense		(63	)		-			(63	)
Loss on early extinguishment of debt		-			-			-
Other expense, net		1			-			1
Reorganization items, net		(19	)		19			-
Earnings from continuing operations before income taxes		85			13			98
Income tax expense		(17	)		(11	)		(28	)
Earnings from continuing operations		68			2			70
Earnings from discontinued operations, net of tax		52			(52	)		-
Net earnings		120			(50	)		70
Less: Net earnings attributable to non-controlling interests		(1	)		1			-
Net earnings attributable to Chemtura	$	119		$	(49	)	$	70
Basic and diluted per share information - attributable to Chemtura:
Earnings from continuing operations, net of tax	$	0.68					$	0.70
Earnings from discontinued operations, net of tax		0.51						-
Net earnings	$	1.19					$	0.70
Weighted average shares outstanding - Basic		100.1						100.1
Weighted average shares outstanding - Diluted		100.3						100.3
Managed Basis Adjustments consist of the following:
Accelerated recognition of asset retirement obligations				$	-
UK pension benefit matter					8
Loss on disposal of assets					1
Accelerated depreciation of property, plant and equipment					2
Facility closures, severance and related costs					3
Gain on sale of business					(27	)
Impairment charges					4
Changes in estimates related to expected allowable claims					3
Loss on early extinguishment of debt					-
Release of translation adjustments from liquidation of entities					-
Reorganization items, net					19
Pre-tax					13
Adjustment to apply a Managed Basis effective tax rate					(11	)
Earnings from discontinued operations, net of tax					(52	)
Non-controlling interests - Discontinued Operations					1
After-tax				$	(49	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	166
Accelerated recognition of asset retirement obligations								-
UK pension benefit matter								8
Loss on disposal of assets								1
Accelerated depreciation of property, plant and equipment								2
Facility closures, severance and related costs								3
Gain on sale of business								(27	)
Impairment charges								4
Changes in estimates related to expected allowable claims								3
Operating income - Managed Basis								160
Depreciation and amortization - Managed Basis								101
Non-cash stock-based compensation expense								24
Adjusted EBITDA							$	285

4

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Quarter ended March 31, 2012									Quarter ended June 30, 2012
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments				Managed Basis
Net sales	$	534		$	-		$	534		$	583		$	-			$	583
Cost of goods sold		386			-			386			425			-				425
Gross profit		148			-			148			158			-				158
Gross profit %		28	%					28	%		27	%						27	%
Selling, general and administrative		64			-			64			58			-				58
Depreciation and amortization		24			-			24			25			-				25
Research and development		11			-			11			10			-				10
Facility closures, severance and related costs		-			-			-			6			(6	)			-
Gain on sale of business		-			-			-			-			-				-
Impairment charges		-			-			-			-			-				-
Changes in estimates related to expected allowable claims		2			(2	)		-			-			-				-
Equity loss		1			-			1			1			-				1
Operating income		46			2			48			58			6		��		64
Interest expense		(14	)		-			(14	)		(16	)		-				(16	)
Loss on early extinguishment of debt		-			-			-			-			-				-
Other (expense) income, net		(3	)		-			(3	)		5							5
Reorganization items, net		(2	)		2			-			(1	)		1				-
Earnings from continuing operations before income taxes		27			4			31			46			7				53
Income tax benefit (expense)		1			(10	)		(9	)		(12	)		(3	)			(15	)
Earnings from continuing operations		28			(6	)		22			34			4				38
(Loss) earnings from discontinued operations, net of tax		(6	)		6			-			17			(17	)			-
Net earnings		22			-			22			51			(13	)			38
Less: Net earnings attributable to non-controlling interests		-			-			-			(1	)		1				-
Net earnings attributable to Chemtura	$	22		$	-		$	22		$	50		$	(12	)		$	38
Basic and diluted per share information - attributable to Chemtura:
Earnings from continuing operations, net of tax	$	0.28					$	0.22		$	0.34						$	0.38
(Loss) earnings from discontinued operations, net of tax		(0.06	)					-			0.16							-
Net earnings	$	0.22					$	0.22		$	0.50						$	0.38
Weighted average shares outstanding - Basic		98.3						98.3			98.9							98.9
Weighted average shares outstanding - Diluted		99.1						99.1			99.1							99.1
Managed Basis Adjustments consist of the following:
Accelerated recognition of asset retirement obligations				$	-								$	-
UK pension benefit matter					-									-
Accelerated depreciation of property, plant and equipment					-									-
Facility closures, severance and related costs					-									6
Gain on sale of business					-									-
Impairment charges					-									-
Changes in estimates related to expected allowable claims					2									-
Loss on early extinguishment of debt					-									-
Release of translation adjustments from liquidation of entities					-									-
Reorganization items, net					2									1
Pre-tax					4									7
Adjustment to apply a Managed Basis effective tax rate					(10	)								(3	)
Loss (earnings) from discontinued operations, net of tax					6									(17	)
Non-controlling interests - Discontinued Operations					-									1
After-tax				$	-								$	(12	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	46									$	58
Accelerated recognition of asset retirement obligations								-										-
UK pension benefit matter								-										-
Accelerated depreciation of property, plant and equipment								-										-
Facility closures, severance and related costs								-										6
Gain on sale of business								-										-
Impairment charges								-										-
Changes in estimates related to expected allowable claims								2										-
Operating income - Managed Basis								48										64
Depreciation and amortization - Managed Basis								24										25
Non-cash stock-based compensation expense								7										3
Adjusted EBITDA							$	79									$	92

5

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Quarter ended September 30, 2012									Quarter ended December 31, 2012
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	546		$	-		$	546		$	533		$	-		$	533
Cost of goods sold		398			-			398			406			-			406
Gross profit		148			-			148			127			-			127
Gross profit %		27	%					27	%		24	%					24	%
Selling, general and administrative		60			-			60			63			-			63
Depreciation and amortization		26			-			26			25			-			25
Research and development		10			-			10			10			-			10
Facility closures, severance and related costs		2			(2	)		-			3			(3	)		-
Gain on sale of business		-			-			-			-			-			-
Impairment charges		-			-			-			-			-			-
Changes in estimates related to expected allowable claims		(1	)		1			-			-			-			-
Equity loss		1			-			1			1			-			1
Operating income		50			1			51			25			3			28
Interest expense		(17	)		-			(17	)		(17	)		-			(17	)
Loss on early extinguishment of debt		-			-			-			(1	)		1			-
Other (expense) income, net		(5	)		-			(5	)		23			(21	)		2
Reorganization items, net		(1	)		1			-			(1	)		1			-
Earnings from continuing operations before income taxes		27			2			29			29			(16	)		13
Income tax expense		(5	)		(3	)		(8	)		(10	)		7			(3	)
Earnings from continuing operations		22			(1	)		21			19			(9	)		10
(Loss) earnings from discontinued operations, net of tax		(15	)		15			-			1			(1	)		-
Net earnings		7			14			21			20			(10	)		10
Less: Net loss attributable to non-controlling interests		2			(2	)		-			-			-			-
Net earnings attributable to Chemtura	$	9		$	12		$	21		$	20		$	(10	)	$	10
Basic and diluted per share information - attributable to Chemtura:
Earnings from continuing operations, net of tax	$	0.22					$	0.21		$	0.19					$	0.10
(Loss) earnings from discontinued operations, net of tax		(0.13	)					-			0.01						-
Net earnings	$	0.09					$	0.21		$	0.20					$	0.10
Weighted average shares outstanding - Basic		97.9						97.9			97.9						97.9
Weighted average shares outstanding - Diluted		98.2						98.2			99.0						99.0
Managed Basis Adjustments consist of the following:
Accelerated recognition of asset retirement obligations				$	-								$	-
UK pension benefit matter					-									-
Accelerated depreciation of property, plant and equipment					-									-
Facility closures, severance and related costs					2									3
Gain on sale of business					-									-
Impairment charges					-									-
Changes in estimates related to expected allowable claims					(1	)								-
Loss on early extinguishment of debt					-									1
Release of translation adjustments from liquidation of entities					-									(21	)
Reorganization items, net					1									1
Pre-tax					2									(16	)
Adjustment to apply a Managed Basis effective tax rate					(3	)								7
Loss (earnings) from discontinued operations, net of tax					15									(1	)
Non-controlling interests - Discontinued Operations					(2	)								-
After-tax				$	12								$	(10	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	50								$	25
Accelerated recognition of asset retirement obligations								-									-
UK pension benefit matter								-									-
Accelerated depreciation of property, plant and equipment								-									-
Facility closures, severance and related costs								2									3
Gain on sale of business								-									-
Impairment charges								-									-
Changes in estimates related to expected allowable claims								(1	)								-
Operating income - Managed Basis								51									28
Depreciation and amortization - Managed Basis								26									25
Non-cash stock-based compensation expense								2									10
Adjusted EBITDA							$	79								$	63

6

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Year ended December 31, 2012
		GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	2,196		$	-		$	2,196
Cost of goods sold		1,615			-			1,615
Gross profit		581			-			581
Gross profit %		26	%					26	%
Selling, general and administrative		245			-			245
Depreciation and amortization		100			-			100
Research and development		41			-			41
Facility closures, severance and related costs		11			(11	)		-
Gain on sale of business		-			-			-
Impairment charges		-			-			-
Changes in estimates related to expected allowable claims		1			(1	)		-
Equity loss		4			-			4
Operating income		179			12			191
Interest expense		(64	)		-			(64	)
Loss on early extinguishment of debt		(1	)		1			-
Other income (expense), net		20			(21	)		(1	)
Reorganization items, net		(5	)		5			-
Earnings (loss) from continuing operations before income taxes		129			(3	)		126
Income tax expense		(26	)		(9	)		(35	)
Earnings (loss) from continuing operations		103			(12	)		91
Loss from discontinued operations, net of tax		(3	)		3			-
Net earnings (loss)		100			(9	)		91
Less: Net loss attributable to non-controlling interests		1			(1	)		-
Net earnings (loss) attributable to Chemtura	$	101		$	(10	)	$	91
Basic and diluted per share information - attributable to Chemtura:
Earnings (loss) from continuing operations, net of tax	$	1.04					$	0.92
Loss from discontinued operations, net of tax		(0.02	)					-
Net earnings (loss)	$	1.02					$	0.92
Weighted average shares outstanding - Basic		98.2						98.2
Weighted average shares outstanding - Diluted		98.8						98.8
Managed Basis Adjustments consist of the following:
Environmental reserve				$	-
UK pension benefit matter					-
Accelerated depreciation of property, plant and equipment					-
Facility closures, severance and related costs					11
Gain on sale of business					-
Impairment charges					-
Changes in estimates related to expected allowable claims					1
Loss on early extinguishment of debt					1
Release of translation adjustments from liquidation of entities					(21	)
Reorganization items, net					5
Pre-tax					(3	)
Adjustment to apply a Managed Basis effective tax rate					(9	)
Loss (earnings) from discontinued operations, net of tax					3
Non-controlling interests - Discontinued Operations					(1	)
After-tax				$	(10	)
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	179
Environmental reserve								-
UK pension benefit matter								-
Accelerated depreciation of property, plant and equipment								-
Facility closures, severance and related costs								11
Gain on sale of business								-
Impairment charges								-
Changes in estimates related to expected allowable claims								1
Operating income - Managed Basis								191
Depreciation and amortization - Managed Basis								100
Non-cash stock-based compensation expense								22
Adjusted EBITDA							$	313

7

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Quarter ended March 31, 2013									Quarter ended June 30, 2013
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	528		$	-		$	528		$	590		$	-		$	590
Cost of goods sold		418			(21	)		397			444			-			444
Gross profit		110			21			131			146			-			146
Gross profit %		21	%					25	%		25	%					25	%
Selling, general and administrative		58			-			58			53			2			55
Depreciation and amortization		26			-			26			26			-			26
Research and development		8			-			8			10			-			10
Facility closures, severance and related costs		14			(14	)		-			11			(11	)		-
Gain on sale of business		-			-			-			-			-			-
Impairment charges		-			-			-			-			-			-
Changes in estimates related to expected allowable claims		-			-			-			-			-			-
Equity loss		2			-			2			1			-			1
Operating income		2			35			37			45			9			54
Interest expense		(16	)		-			(16	)		(15	)		-			(15	)
Loss on early extinguishment of debt		-			-			-			-			-			-
Other income (expense), net		3			-			3			12			(15	)		(3	)
Reorganization items, net		-			-			-			(1	)		1			-
Earnings (loss) from continuing operations before income taxes		(11	)		35			24			41			(5	)		36
Income tax expense		(7	)		-			(7	)		(14	)		3			(11	)
Earnings (loss) from continuing operations		(18	)		35			17			27			(2	)		25
Earnings (loss) from discontinued operations, net of tax		(5	)		5			-			26			(26	)		-
Loss on sale of discontinued operations, net of tax		-			-			-			(146	)		146			-
Net earnings (loss)		(23	)		40			17			(93	)		118			25
Less: Net loss attributable to non-controlling interests		-			-			-			-			-			-
Net earnings (loss) attributable to Chemtura		(23	)		40			17			(93	)		118		$	25
Basic per share information - attributable to Chemtura:
Earnings (loss) from continuing operations, net of tax	$	(0.18	)				$	0.17		$	0.27					$	0.25
Earnings (loss) from discontinued operations, net of tax		(0.05	)					-			0.26						-
Loss from discontinued operations, net of tax		-						-			(1.48	)					-
Net earnings (loss)	$	(0.23	)				$	0.17		$	(0.95	)				$	0.25
Diluted per share information - attributable to Chemtura:
Earnings (loss) from continuing operations, net of tax	$	(0.18	)				$	0.17		$	0.27					$	0.25
Earnings (loss) from discontinued operations, net of tax		(0.05	)					-			0.26						-
Loss from discontinued operations, net of tax		-						-			(1.46	)					-
Net earnings (loss)	$	(0.23	)				$	0.17		$	(0.93	)				$	0.25
Weighted average shares outstanding - Basic		98.2						98.2			98.6						98.6
Weighted average shares outstanding - Diluted		98.2						99.6			99.7						99.7
Managed Basis Adjustments consist of the following:
Environmental reserve				$	21								$	-
UK pension benefit matter					-									(2	)
Accelerated depreciation of property, plant and equipment					-									-
Facility closures, severance and related costs					14									11
Gain on sale of business					-									-
Impairment charges					-									-
Changes in estimates related to expected allowable claims					-									-
Loss on early extinguishment of debt					-									-
Release of translation adjustments from liquidation of entities					-									(15	)
Reorganization items, net					-									1
Pre-tax					35									(5	)
Adjustment to apply a Managed Basis effective tax rate					-									3
(Earnings) loss from discontinued operations, net of tax					5									(26	)
Loss on sale of discontinued operations, net of tax					-									146
Non-controlling interests - Discontinued Operations					-									-
After-tax				$	40								$	118
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	2								$	45
Environmental reserve								21									-
UK pension benefit matter								-									(2	)
Accelerated depreciation of property, plant and equipment								-									-
Facility closures, severance and related costs								14									11
Gain on sale of business								-									-
Impairment charges								-									-
Changes in estimates related to expected allowable claims								-									-
Operating income - Managed Basis								37									54
Depreciation and amortization - Managed Basis								26									26
Non-cash stock-based compensation expense								5									3
Adjusted EBITDA							$	68								$	83

8

CHEMTURA CORPORATION

GAAP and Managed Basis Consolidated Statements of Operations (Unaudited)

(In millions, except per share data)

	Six months ended June 30, 2013
		GAAP			Managed Basis  Adjustments			Managed Basis
Net sales	$	1,118		$	-		$	1,118
Cost of goods sold		862			(21	)		841
Gross profit		256			21			277
Gross profit %		23	%					25	%
Selling, general and administrative		111			2			113
Depreciation and amortization		52			-			52
Research and development		18			-			18
Facility closures, severance and related costs		25			(25	)		-
Gain on sale of business		-			-			-
Impairment charges		-			-			-
Changes in estimates related to expected allowable claims		-			-			-
Equity loss		3			-			3
Operating income		47			44			91
Interest expense		(31	)		-			(31	)
Loss on early extinguishment of debt		-			-			-
Other income (expense), net		15			(15	)		-
Reorganization items, net		(1	)		1			-
Earnings (loss) from continuing operations before income taxes		30			30			60
Income tax expense		(21	)		3			(18	)
Earnings (loss) from continuing operations		9			33			42
Earnings from discontinued operations, net of tax		21			(21	)		-
Loss on sale of discontinued operations, net of tax		(146	)		146			-
Net earnings (loss)		(116	)		158			42
Less: Net loss attributable to non-controlling interests		-			-			-
Net earnings (loss) attributable to Chemtura	$	(116	)	$	158		$	42
Basic and diluted per share information - attributable to Chemtura:
Earnings (loss) from continuing operations, net of tax	$	0.09					$	0.43
Loss from discontinued operations, net of tax		0.21						-
Loss from discontinued operations, net of tax		(1.48	)					-
Net earnings (loss)	$	(1.18	)				$	0.43
Basic and diluted per share information - attributable to Chemtura:
Earnings (loss) from continuing operations, net of tax	$	0.09					$	0.42
Loss from discontinued operations, net of tax		0.21						-
Loss from discontinued operations, net of tax		(1.47	)					-
Net earnings (loss)	$	(1.17	)				$	0.42
Weighted average shares outstanding - Basic		98.4						98.4
Weighted average shares outstanding - Diluted		99.6						99.6
Managed Basis Adjustments consist of the following:
		��
Environmental reserve				$	21
UK pension benefit matter					(2	)
Accelerated depreciation of property, plant and equipment					-
Facility closures, severance and related costs					25
Gain on sale of business					-
Impairment charges					-
Changes in estimates related to expected allowable claims					-
Loss on early extinguishment of debt					-
Release of translation adjustments from liquidation of entities					(15	)
Reorganization items, net					1
Pre-tax					30
Adjustment to apply a Managed Basis effective tax rate					3
Loss (earnings) from discontinued operations, net of tax					(21	)
(Earnings) loss from discontinued operations, net of tax					146
Non-controlling interests - Discontinued Operations					-
After-tax				$	158
Adjusted EBITDA consists of the following:
Operating income - GAAP							$	47
Environmental reserve								21
UK pension benefit matter								(2	)
Accelerated depreciation of property, plant and equipment								-
Facility closures, severance and related costs								25
Gain on sale of business								-
Impairment charges								-
Changes in estimates related to expected allowable claims								-
Operating income - Managed Basis								91
Depreciation and amortization - Managed Basis								52
Non-cash stock-based compensation expense								8
Adjusted EBITDA							$	151

9

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Year Ended December 31, 2009									Year Ended December 31, 2010
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	692		$	-		$	692		$	835		$	-		$	835
Industrial Engineered Products		512			-			512			728			-			728
Chemtura AgroSolutions		332			-			332			351			-			351
Total net sales	$	1,536		$	-		$	1,536		$	1,914		$	-		$	1,914
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	87		$	3		$	90		$	110		$	-		$	110
Industrial Engineered Products		3			-			3			25			29			54
Chemtura AgroSolutions		42			-			42			21			3			24
Segment operating profit		132			3			135			156			32			188
General corporate expense, including
amortization		(117	)		1			(116	)		(115	)		4			(111	)
Facility closures, severance and related costs		(3	)		3			-			(1	)		1			-
Antitrust costs		(10	)		10			-			-			-			-
Gain on sale of business		-			-			-			2			(2	)		-
Impairment charges		(2	)		2			-			(57	)		57			-
Changes in estimates related to expected allowable claims		(73	)		73			-			(35	)		35			-
Total operating (loss) profit	$	(73	)	$	92		$	19		$	(50	)	$	127		$	77
Managed Basis Adjustments consist of the following:
Other operational adjustments				$	2								$	8
Accelerated depreciation of property, plant and equipment					2									28
Facility closures, severance and related costs					3									1
Antitrust costs					10									-
Gain on sale of business					-									(2	)
Impairment charges					2									57
Changes in estimates related to expected allowable claims					73									35
				$	92								$	127
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	28		$	(2	)	$	26		$	23		$	-		$	23
Industrial Engineered Products		57			-			57			79			(27	)		52
Chemtura AgroSolutions		8			-			8			9			-			9
General corporate expense		28			-			28			25			(1	)		24
Total depreciation and amortization	$	121		$	(2	)	$	119		$	136		$	(28	)	$	108
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products							$	-								$	1
Industrial Engineered Products								1									1
Chemtura AgroSolutions								-									-
General corporate expense								1									6
Total non-cash stock-based compensation expense							$	2								$	8
Adjusted EBITDA by Segment:
Industrial Performance Products							$	116								$	134
Industrial Engineered Products								61									107
Chemtura AgroSolutions								50									33
General corporate expense								(87	)								(81	)
Adjusted EBITDA							$	140								$	193

$

10

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Quarter Ended March 31, 2011									Quarter Ended June 30, 2011
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	235		$	-		$	235		$	252		$	-		$	252
Industrial Engineered Products		209			-			209			244			-			244
Chemtura AgroSolutions		75			-			75			110			-			110
Total net sales	$	519		$	-		$	519		$	606		$	-		$	606
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	27		$	-		$	27		$	34		$	-		$	34
Industrial Engineered Products		33			1			34			42			(1	)		41
Chemtura AgroSolutions		2			-			2			12			-			12
Segment operating profit		62			1			63			88			(1	)		87
General corporate expense, including
amortization		(32	)		-			(32	)		(29	)		-			(29	)
Facility closures, severance and related costs		-			-			-			-			-			-
Gain on sale of business		-			-			-			-			-			-
Impairment charges		(2	)		2			-			(1	)		1			-
Changes in estimates related to expected allowable claims		-			-			-			(1	)		1			-
Total operating (loss) profit	$	28		$	3		$	31		$	57		$	1		$	58
Managed Basis Adjustments consist of the following:
UK pension benefit matter				$	-								$	-
Accelerated recognition of asset retirement obligations					-									(1	)
Loss on disposal of assets					-									-
Accelerated depreciation of property, plant and equipment					1									-
Facility closures, severance and related costs					-									-
Gain on sale of business					-									-
Impairment charges					2									1
Changes in estimates related to expected allowable claims					-									1
				$	3								$	1
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	7		$	-		$	7		$	5		$	-		$	5
Industrial Engineered Products		11			(1	)		10			11			-			11
Chemtura AgroSolutions		2			-			2			3			-			3
General corporate expense		8			-			8			6			-			6
Total depreciation and amortization	$	28		$	(1	)	$	27		$	25		$	-		$	25
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products							$	1								$	-
Industrial Engineered Products								1									-
Chemtura AgroSolutions								-									1
General corporate expense								6									5
Total non-cash stock-based compensation expense							$	8								$	6
Adjusted EBITDA by Segment:
Industrial Performance Products							$	35								$	39
Industrial Engineered Products								45									52
Chemtura AgroSolutions								4									16
General corporate expense								(18	)								(18	)
Adjusted EBITDA							$	66								$	89

11

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Quarter Ended September 30, 2011								Quarter Ended December 31, 2011
		GAAP			Managed Basis  Adjustments		Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	241		$	-	$	241		$	211		$	-		$	211
Industrial Engineered Products		222			-		222			194			-			194
Chemtura AgroSolutions		105			-		105			86			-			86
Total net sales	$	568		$	-	$	568		$	491		$	-		$	491
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	27		$	-	$	27		$	28		$	1		$	29
Industrial Engineered Products		25			-		25			30			-			30
Chemtura AgroSolutions		11			-		11			5			1			6
Segment operating profit		63			-		63			63			2			65
General corporate expense, including
amortization		(32	)		1		(31	)		(34	)		8			(26	)
Facility closures, severance and related costs		-			-		-			(3	)		3			-
Gain on sale of business		-			-		-			27			(27	)		-
Impairment charges		-			-		-			(1	)		1			-
Changes in estimates related to expected allowable claims		-			-		-			(2	)		2			-
Total operating profit (loss)	$	31		$	1	$	32		$	50		$	(11	)	$	39
Managed Basis Adjustments consist of the following:
UK pension benefit matter				$	-							$	8
Accelerated recognition of asset retirement obligations					-								1
Loss on disposal of assets					1								-
Accelerated depreciation of property, plant and equipment					-								1
Facility closures, severance and related costs					-								3
Gain on sale of business					-								(27	)
Impairment charges					-								1
Changes in estimates related to expected allowable claims					-								2
				$	1							$	(11	)
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	7		$	-	$	7		$	7		$	-		$	7
Industrial Engineered Products		10			-		10			10			-			10
Chemtura AgroSolutions		2			-		2			3			(1	)		2
General corporate expense		7			-		7			4			-			4
Total depreciation and amortization	$	26		$	-	$	26		$	24		$	(1	)	$	23
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products						$	1								$	-
Industrial Engineered Products							1									-
Chemtura AgroSolutions							-									1
General corporate expense							4									3
Total non-cash stock-based compensation expense						$	6								$	4
Adjusted EBITDA by Segment:
Industrial Performance Products						$	35								$	36
Industrial Engineered Products							36									40
Chemtura AgroSolutions							13									9
General corporate expense							(20	)								(19	)
Adjusted EBITDA						$	64								$	66

12

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Year ended December 31, 2011
		GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	939		$	-		$	939
Industrial Engineered Products		869			-			869
Chemtura AgroSolutions		376			-			376
Total net sales	$	2,184		$	-		$	2,184
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	116		$	1		$	117
Industrial Engineered Products		130			-			130
Chemtura AgroSolutions		30			1			31
Segment operating profit		276			2			278
General corporate expense, including
amortization		(127	)		9			(118	)
Facility closures, severance and related costs		(3	)		3			-
Gain on sale of business		27			(27	)		-
Impairment charges		(4	)		4			-
Changes in estimates related to expected allowable claims		(3	)		3			-
Total operating (loss) profit	$	166		$	(6	)	$	160
Managed Basis Adjustments consist of the following:
UK pension benefit matter				$	8
Loss on disposal of assets					1
Accelerated depreciation of property, plant and equipment					2
Facility closures, severance and related costs					3
Gain on sale of business					(27	)
Impairment charges					4
Changes in estimates related to expected allowable claims					3
				$	(6	)
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	26		$	-		$	26
Industrial Engineered Products		42			(1	)		41
Chemtura AgroSolutions		10			(1	)		9
General corporate expense		25			-			25
Total depreciation and amortization	$	103		$	(2	)	$	101
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products							$	2
Industrial Engineered Products								2
Chemtura AgroSolutions								2
General corporate expense								18
Total non-cash stock-based compensation expense							$	24
Adjusted EBITDA by Segment:
Industrial Performance Products							$	145
Industrial Engineered Products								173
Chemtura AgroSolutions								42
General corporate expense								(75	)
Adjusted EBITDA							$	285

13

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Quarter Ended March 31, 2012								Quarter Ended June 30, 2012
		GAAP			Managed Basis  Adjustments		Managed Basis			GAAP			Managed Basis  Adjustments		Managed Basis
NET SALES
Industrial Performance Products	$	223		$	-	$	223		$	235		$	-	$	235
Industrial Engineered Products		226			-		226			236			-		236
Chemtura AgroSolutions		85			-		85			112			-		112
Total net sales	$	534		$	-	$	534		$	583		$	-	$	583
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	26		$	-	$	26		$	28		$	-	$	28
Industrial Engineered Products		44			-		44			38			-		38
Chemtura AgroSolutions		10			-		10			23			-		23
Segment operating profit		80			-		80			89			-		89
General corporate expense, including
amortization		(32	)		-		(32	)		(25	)		-		(25	)
Facility closures, severance and related costs		-			-		-			(6	)		6		-
Gain on sale of business		-			-		-			-			-		-
Impairment charges		-			-		-			-			-		-
Changes in estimates related to expected allowable claims		(2	)		2		-			-			-		-
Total operating (loss) profit	$	46	��	$	2	$	48		$	58		$	6	$	64
Managed Basis Adjustments consist of the following:
Accelerated depreciation of property, plant and equipment				$	-							$	-
Facility closures, severance and related costs					-								6
Gain on sale of business					-								-
Impairment charges					-								-
Changes in estimates related to expected allowable claims					2								-
				$	2							$	6
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	6		$	-	$	6		$	6		$	-	$	6
Industrial Engineered Products		10			-		10			10			-		10
Chemtura AgroSolutions		2			-		2			5			-		5
General corporate expense		6			-		6			4			-		4
Total depreciation and amortization	$	24		$	-	$	24		$	25		$	-	$	25
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products						$	1							$	-
Industrial Engineered Products							1								-
Chemtura AgroSolutions							-								1
General corporate expense							5								2
Total non-cash stock-based compensation expense						$	7							$	3
Adjusted EBITDA by Segment:
Industrial Performance Products						$	33							$	34
Industrial Engineered Products							55								48
Chemtura AgroSolutions							12								29
General corporate expense							(21	)							(19	)
Adjusted EBITDA						$	79							$	92

14

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Loss) (Unaudited) 

(In millions of dollars)

	Quarter Ended September 30, 2012									Quarter Ended December 31, 2012
		GAAP			Managed Basis  Adjustments			Managed Basis			GAAP			Managed Basis  Adjustments		Managed Basis
NET SALES
Industrial Performance Products	$	219		$	-		$	219		$	214		$	-	$	214
Industrial Engineered Products		213			-			213			221			-		221
Chemtura AgroSolutions		114			-			114			98			-		98
Total net sales	$	546		$	-		$	546		$	533		$	-	$	533
OPERATING PROFIT (LOSS)
Industrial Performance Products	$	28		$	-		$	28		$	20		$	-	$	20
Industrial Engineered Products		30			-			30			28			-		28
Chemtura AgroSolutions		21			-			21			11			-		11
Segment operating profit		79			-			79			59			-		59
General corporate expense, including
amortization		(28	)		-			(28	)		(31	)		-		(31	)
Facility closures, severance and related costs		(2	)		2			-			(3	)		3		-
Gain on sale of business		-			-			-			-			-		-
Impairment charges		-			-			-			-			-		-
Changes in estimates related to expected allowable claims		1			(1	)		-			-			-		-
Total operating profit (loss)	$	50		$	1		$	51		$	25		$	3	$	28
Managed Basis Adjustments consist of the following:
Accelerated depreciation of property, plant and equipment				$	-								$	-
Facility closures, severance and related costs					2									3
Gain on sale of business					-									-
Impairment charges					-									-
Changes in estimates related to expected allowable claims					(1	)								-
				$	1								$	3
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	6		$	-		$	6		$	7		$	-	$	7
Industrial Engineered Products		12			-			12			11			-		11
Chemtura AgroSolutions		3			-			3			3			-		3
General corporate expense		5			-			5			4			-		4
Total depreciation and amortization	$	26		$	-		$	26		$	25		$	-	$	25
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products							$	-							$	1
Industrial Engineered Products								-								1
Chemtura AgroSolutions								-								-
General corporate expense								2								8
Total non-cash stock-based compensation expense							$	2							$	10
Adjusted EBITDA by Segment:
Industrial Performance Products							$	34							$	28
Industrial Engineered Products								42								40
Chemtura AgroSolutions								24								14
General corporate expense								(21	)							(19	)
Adjusted EBITDA							$	79							$	63

15

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Unaudited)

(In millions of dollars)

	Year ended December 31, 2012
		GAAP			Managed Basis  Adjustments		Managed Basis
NET SALES	$			$
Industrial Performance Products		891			-	$	891
Industrial Engineered Products		896			-		896
Chemtura AgroSolutions		409			-		409
Total net sales	$	2,196		$	-	$	2,196
OPERATING PROFIT
Industrial Performance Products	$	102		$	-	$	102
Industrial Engineered Products		140			-		140
Chemtura AgroSolutions		65			-		65
Segment operating profit		307			-		307
��General corporate expense, including
amortization		(116	)		-		(116	)
Facility closures, severance and related costs		(11	)		11		-
Gain on sale of business		-			-		-
Impairment charges		-			-		-
Changes in estimates related to expected allowable claims		(1	)		1		-
Total operating profit	$	179		$	12	$	191
Managed Basis Adjustments consist of the following:
Environmental reserve				$	-
Facility closures, severance and related costs					11
Gain on sale of business					-
Impairment charges					-
Changes in estimates related to expected allowable claims					1
				$	12
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	25		$	-	$	25
Industrial Engineered Products		43			-		43
Chemtura AgroSolutions		13			-		13
General corporate expense		19			-		19
Total depreciation and amortization	$	100		$	-	$	100
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products						$	2
Industrial Engineered Products							2
Chemtura AgroSolutions							1
General corporate expense							17
Total non-cash stock-based compensation expense						$	22
Adjusted EBITDA by Segment:
Industrial Performance Products						$	129
Industrial Engineered Products							185
Chemtura AgroSolutions							79
General corporate expense							(80	)
Adjusted EBITDA						$	313

16

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Unaudited)

(In millions of dollars)

	Quarter ended March 31, 2013								Quarter ended June 30, 2013
		GAAP			Managed Basis  Adjustments		Managed Basis			GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	241		$	-	$	241		$	254		$	-		$	254
Industrial Engineered Products		199			-		199			201			-			201
Chemtura AgroSolutions		88			-		88			135			-			135
Total net sales	$	528		$	-	$	528		$	590		$	-		$	590
OPERATING PROFIT
Industrial Performance Products	$	29		$	-	$	29		$	31		$	-		$	31
Industrial Engineered Products		20			-		20			13			-			13
Chemtura AgroSolutions		13			-		13			32			-			32
Segment operating profit		62			-		62			76			-			76
General corporate expense, including
amortization		(46	)		21		(25	)		(20	)		(2	)		(22	)
Facility closures, severance and related costs		(14	)		14		-			(11	)		11			-
Gain on sale of business		-			-		-			-			-			-
Impairment charges		-			-		-			-			-			-
Changes in estimates related to expected allowable claims		-			-		-			-			-			-
Total operating profit	$	2		$	35	$	37		$	45		$	9		$	54
Managed Basis Adjustments consist of the following:
Environmental reserve				$	21							$	-
UK pension benefit matter					-								(2	)
Facility closures, severance and related costs					14								11
Gain on sale of business					-								-
Impairment charges					-								-
Changes in estimates related to expected allowable claims					-								-
				$	35							$	9
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	7		$	-	$	7		$	6		$	-		$	6
Industrial Engineered Products		11			-		11			12			-			12
Chemtura AgroSolutions		3			-		3			3			-			3
General corporate expense		5			-		5			5			-			5
Total depreciation and amortization	$	26		$	-	$	26		$	26		$	-		$	26
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products						$	-								$	1
Industrial Engineered Products							-									1
Chemtura AgroSolutions							-									-
General corporate expense							5									1
Total non-cash stock-based compensation expense						$	5								$	3
Adjusted EBITDA by Segment:
Industrial Performance Products						$	36								$	38
Industrial Engineered Products							31									26
Chemtura AgroSolutions							16									35
General corporate expense							(15	)								(16	)
Adjusted EBITDA						$	68								$	83

17

CHEMTURA CORPORATION

GAAP and Managed Basis Segment Sales and Operating Profit (Unaudited)

(In millions of dollars)

	Six months ended June 30, 2013
		GAAP			Managed Basis  Adjustments			Managed Basis
NET SALES
Industrial Performance Products	$	495		$	-		$	495
Industrial Engineered Products		400			-			400
Chemtura AgroSolutions		223			-			223
Total net sales	$	1,118		$	-		$	1,118
OPERATING PROFIT
Industrial Performance Products	$	60		$	-		$	60
Industrial Engineered Products		33			-			33
Chemtura AgroSolutions		45			-			45
Segment operating profit		138			-			138
General corporate expense, including
amortization		(66	)		19			(47	)
Facility closures, severance and related costs		(25	)		25			-
Gain on sale of business		-			-			-
Impairment charges		-			-			-
Changes in estimates related to expected allowable claims		-			-			-
Total operating profit	$	47		$	44		$	91
Managed Basis Adjustments consist of the following:
Environmental reserve				$	21
UK pension benefit matter					(2	)
Facility closures, severance and related costs					25
Gain on sale of business					-
Impairment charges					-
Changes in estimates related to expected allowable claims					-
				$	44
DEPRECIATION AND AMORTIZATION
Industrial Performance Products	$	13		$	-		$	13
Industrial Engineered Products		23			-			23
Chemtura AgroSolutions		6			-			6
General corporate expense		10			-			10
Total depreciation and amortization	$	52		$	-		$	52
NON-CASH STOCK-BASED COMPENSATION EXPENSE
Industrial Performance Products							$	1
Industrial Engineered Products								1
Chemtura AgroSolutions								-
General corporate expense								6
Total non-cash stock-based compensation expense							$	8
Adjusted EBITDA by Segment:
Industrial Performance Products							$	74
Industrial Engineered Products								57
Chemtura AgroSolutions								51
General corporate expense								(31	)
Adjusted EBITDA							$	151

18

CHEMTURA CORPORATION

Summary of Corporate Stranded Costs (Unaudited)

Resulting from Reporting Consumer Products and Antioxidants reported as Discontinued Operations

(In millions of dollars)

		Add:		Add:		Add:		Less:			Less:			Net
		PVC Additives		Antioxidant		Consumer		Antioxidant			Consumer			Increase in
		Stranded		Stranded		Stranded		Amortization			Amortization			Corporate
Period		Costs		Costs		Costs		Expense (a)			Expense (a)			Segment
	Year ended December 31, 2009		13		18		9		(5	)		(11	)		24
	Year ended December 31, 2010		2		14		14		(5	)		(11	)		14
	Quarter ended March 31, 2011		-		4		4		(1	)		(3	)		4
	Quarter ended June 30, 2011		-		4		2		(1	)		(2	)		3
	Quarter ended September 30, 2011		-		4		4		(1	)		(3	)		4
	Quarter ended December 31, 2011		-		3		5		(2	)		(3	)		3
	Year ended December 31, 2011		-		15		15		(5	)		(11	)		14
	Quarter ended March 31, 2012		-		4		2		(1	)		(3	)		2
	Quarter ended June 30, 2012		-		4		3		(1	)		(2	)		4
	Quarter ended September 30, 2012		-		3		4		(1	)		(3	)		3
	Quarter ended December 31, 2012		-		2		4		(1	)		(2	)		3
	Year ended December 31, 2012		-		13		13		(4	)		(10	)		12
	Quarter ended March 31, 2013		-		4		3		-			(3	)		4
	Quarter ended June 30, 2013		-		2		2		-			(2	)		2
	Six months ended June 30, 2013		-		6		5		-			(5	)		6

(a) Our Corporate segment included amortization expense which related directly to the Consumer Products segment and Antioxidant business which is now included in earnings (loss) from discontinued operations, net of tax.

19