Bakelite Synthetics Releases First Sustainability Report

Bakelite Synthetics ("the Company") today released its 2022 Sustainability Report, the organization's first detailed summary that outlines the most significant environmental, social and governance operations and activities of Bakelite Synthetics in 2022 and key sustainability initiatives for 2023. View the 2022 Sustainability Report.

"We seize the opportunity to embed sustainability in everything we do. Our sustainability strategy is a natural extension of our 100-year legacy of innovation to profitably produce infinite solutions that make life better for each of us and the planet," said JP Aucoin, President and Chief Executive Officer of Bakelite Synthetics. "We are driving numerous initiatives in environmental stewardship, people and safety, and product innovation. These range from harnessing steam generated from our processes to generate electricity, to collaborating with customers to incorporate bio-renewable raw materials into our products. Our products touch lives daily, and we are committed to becoming a stronger company while contributing to the betterment of our planet."

"At Bakelite Synthetics, our commitment to shaping a more sustainable future is rooted in the awareness of the environmental impacts of our operations and the role we play in developing environmentally sustainable products and technologies," said Andrea Croslyn, Executive Vice President, Sustainability and Business Processes. "Our 2022 Sustainability Report details steps we have taken to establish our environmental impact baselines, and the goals and strategies we have set to improve going forward. We are committed to working with our associates, our suppliers, our customers and our communities to create a more sustainable world."

Highlights from the 2022 Sustainability Report include:

Environmental Impact: As an organization that develops environmentally responsible technologies, Bakelite understands its role in reducing our environmental impact. To achieve this, the Company has integrated sustainability into its business strategy, operations, and risk management.

• Bakelite joined the UN Global Compact, the American Chemistry Council (ACC) and its Responsible Care^® program, and the Argentina Responsible Care Program.?
• Additionally, 11 new sites were identified to begin Responsible Care^® certification: 10 in the U.S. and one in Argentina.
• Focused on protecting our valuable natural resources, 300 metric tons of rainwater were collected for reuse at our Kitee, Finland site and our Barry, Wales and Lantaron, Spain sites are currently implementing solar renewable energy.

Social Impact: Bakelite is committed to investing in its people through professional development programs, an inclusive and diverse workplace that promotes teamwork and mutual respect, comprehensive health and safety standards, and opportunities to give back to our communities.

• In 2022, Bakelite achieved a safety performance ranking in the top quartile of our American Chemistry Council (ACC) peer companies.
• Committed to Diversity, Equity and Inclusion, Bakelite's female associate population is at 17%, and females comprised 22% of new hires in 2022, moving us in a positive direction.
• Dedicated to growing its associates, on average, full-time Bakelite associates spend 63 hours a year on learning and development.?
• For the seventh consecutive year, Bakelite Italia has been recognized by the local Health Protection Agency for promoting a healthy lifestyle in and outside of the workplace.?
• Bakelite is committed to improving the communities in which we work and live. The organization's efforts are diverse and range from organizing food drives to volunteering at local organizations. For example, Bakelite's Italian team organizes a food drive to support their local community, while Louisville associates volunteer at the Shively Area Ministries (SAM), an organization that provides a sanctuary for people in need. Barry, UK associates support UK Hospice Garden, which provides a calming outdoor space for patients and their families.

Governance: Bakelite recognizes that strong corporate governance and ethical practices are crucial for building trust among associates, customers, and shareholders. Guided by its core values, the organization leverages advanced governance practices and remains dedicated to enhancing the efficiency of its ethical and regulatory compliance initiatives.

• Bakelite developed the Enterprise Risk Management and Reporting (ERMR) manual to ensure that the Company effectively identifies, responds to, and monitors the risks we face, in line with corporate governance and best practice standards.
• Bakelite adheres to relevant privacy laws, regulations, and agreements, and has established ? amongst others ? its own Privacy Policy by which it abides.
• Bakelite values its reputation for integrity and strives at all levels of the Company to adhere to the highest ethical business standards and comply with all applicable laws and regulations. The Company has created the Code of Conduct for Suppliers and Other Third Parties, which applies to all Suppliers and other Third Parties that do business with Bakelite Synthetics.

About Bakelite Synthetics

Based in Atlanta, Georgia, Bakelite Synthetics is a leading global integrated producer of thermoset specialty resins, solutions and engineered thermoset molding compounds serving a variety of segments and end markets across geographies. Additional information about Bakelite Synthetics and its products is available at www.bakelite.com.