Investor Presentation 2021

Investor Presentation

February 25, 2021 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change. © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

1

Forward-Looking Statements This presentation includes certain statements relating to future events and our intentions, beliefs, expectations, and outlook for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the impacts of the effects of COVID-19 on the Company, the Company's anticipated future results and financial performance, liquidity position and cash flows, actions regarding expense control and cost reductions, expected net synergies from the Nexeo acquisition, capital expenditures and other statements regarding the Company's Streamline2022 Program and other initiatives. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: general economic conditions, particularly fluctuations in industrial production and consumption and the timing and extent of economic downturns and potential recoveries the sustained geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; current and new actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our employees, customers, vendors and suppliers; and the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our indebtedness, the restrictions imposed by and costs associated with our debt instruments, and our ability to obtain additional financing; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality issues; delivery failures or potential hazards and risks related to our operations and the hazardous materials we handle, potential inability to obtain adequate insurance coverage; ongoing litigation; potential product liability claims and recalls and other environmental, legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; risks associated with integration of legacy business systems; possible impairment of goodwill and intangible assets; an inability to integrate the business and systems of the companies we acquire, including failure to realize the anticipated benefits of such acquisitions; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this presentation is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this presentation. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this presentation, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

Non-GAAP Measures This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Furthermore, the non-GAAP financial measures presented herein may not be consistent with similar measures provided by other companies. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the Appendix at the end of the presentation. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided in the Appendix. This data should be read in conjunction with Univar Solutions' periodic reports previously filed with the SEC.

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About Univar Solutions We are a leading global chemical and ingredient distributor and provider of specialty services Purchase chemicals and ingredients from thousands of producers and warehouse, repackage, blend, dilute, transport and sell worldwide

Net Sales by Region(1)

Nimble and resilient #1

Diverse Supplier Base

Top 20 premier suppliers represent ~40% of chemical purchases

market position in Canada(2)

CANADA 13% $1.1B

EMEA 20% $1.7B

#2 market position in EMEA(2)

Diverse Customer Base Top 10 customers represent ~6% of sales

Asset Light Model 10-year average capex/sales of 1.3%

U.S. 62% $5.0B #1

Diverse End Markets

No sub-market represents more than ~17% of sales

(1) As of December 31, 2020 (2) Source: ICIS Top 100 Chemical Distributors

market position in the U.S. (2)

LATAM 5% $0.5B 3 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Our Corporate History: A 96 Year Old “New” Company 2011 Completed acquisition of chemical 2001 Continued 1924 Founded as a brokerage business

1920

expansion into Europe through acquisition of Ellis & Everard

1980

1986 Acquired McKesson Chemical Corporation, solidifying U.S. presence and making us the largest chemical distributor in North America

2000

February/March 2019 Completed

distributor Quaron, complementing our European foothold in specialty chemicals with expanded product portfolio and increased logistical capability

acquisition of Nexeo Solutions and sale of Nexeo’s Plastics Distribution Business, enabling a concentration on core chemical distribution and unlocking additional opportunities

2013 Expanded presence in Mexico with

Summer 2020 Launched ChemCentral

the acquisition of Quimicompuestos, making us a leading chemical distributor in the market

2005

2010

and Shop e-commerce platforms, opening new digital sales channels

2015

2019

2020

2007 Acquired ChemCentral, enabling us

April 2015 Acquired Key Chemical, Inc., one of the largest

2010 Acquired Basic Chemical Solutions

June 2015 Oversubscribed IPO and concurrent private

to improve market share and operational efficiencies in North America (“BCS”), enhancing our ability to provide value in the company / chemical end-users supply chain, strengthen global sourcing capabilities, and expand our inorganic chemicals presence

distributors of fluoride to municipalities in the U.S., expanding our offerings into the municipal and other industrial markets placement resulted in approximately $760 million net proceeds, used to pay the remaining principal balance of Senior Subordinated Notes; began trading on NYSE

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Chemical Distribution Industry Overview • Highly fragmented industry with opportunity for growth • Historically viewed as a channel to reach smaller customers but increasingly becoming critical to larger manufacturers • High number of small, local participants • Industry-wide underinvestment in software and digitization –

Advanced Centralized business platform expected to simplify logistics and reduce complexity and costs

Global Third-Party Chemical Distribution (1) Univar Solutions Brenntag IMCD

$200B+

1)

Source: internal industry analysis

Top three distributors account for ~10% of the market

Univar Solutions: Attractive Growth Drivers Market Growth GDP | Industrial production | Solutions focused Digitization Expand reach | Demand generation | Lower cost to serve | best customer experience online ordering and self serve Industry Consolidation Highly fragmented | Driven by suppliers and customers Sales Force Effectiveness Highly trained | Compensation aligned with profitable growth | Quality customer experience Regulatory Industry leading safety | Increasing complexity | Barriers to entry Outsourcing with Key Value Chemical & Ingredient Suppliers Supplier driven | Underpenetrated addressable market

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Creating a Sustainable Competitive Advantage 2020 - Delivering Results: • Continued increase of new customer wins and "staybacks" • Leveraging our solution centers • Growing market share for suppliers with new authorizations • Developing leading customer experience center of excellence

Deliver our S22 commitments through market reach, as well as safe, reliable, and lower cost operations while building and winning new supplier relationships and delivering the highest quality customer experience.

Organize and win in higher margin high growth markets such as CASE, Pharma, Food, Beauty & Personal Care, HIC and Lube/MW. Supplier authorizations and technical differentiation are the key enablers.

Drive the best customer experience through data analytics, relevant content, online product ordering, and self serve capabilities and live chat.

Complete divestments and look for market consolidation opportunities to drive nonorganic growth options.

Global structure, simplified go to market strategies, common integrated use of solutions centers and logistics/storage strengths to make us the distributor of choice.

Ensure we have the right people with the right capabilities in the right roles to drive our strategic imperatives. We will empower our people to do great things and achieve the desired results.

• Expanding omnichannel approach Controlling the controllables, while delivering gross margin expansion, improving net working capital efficiency, and reducing leverage

Redefining chemical & ingredient distribution while Growing Together © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

6

Putting the Customer at center of all we do…

DELIVER PROFITABLE SHARE GROWTH

• • • •

Effortless Customer Experience Making it Easy to Do Business Making it Easy to Sell Minimizing Costs

Executing our strategy and fulfilling our purpose 7 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Helping keep our communities healthy, fed, clean and safe…

WIN IN CHOSEN FOCUSED INDUSTRIES

PORTFOLIO UPGRADE

• Through Consumer Solutions & Industrial Solutions markets • As the Industry Resource for Trends & Technical Knowledge • Grow through Portfolio Expansion • Be the Market Leader through our Global Solution Centers

Executing our strategy and fulfilling our purpose 8 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Taking full advantage of every opportunity…

DIGITAL AT OUR CORE

• Leverage Centralized Business Platform • Create an Unmatched Digital Advantage • Grow Customer & Supplier Relationships and Expand the Ways to Interact

Executing our strategy and fulfilling our purpose 9 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Making us the distributor of choice…

LEVERAGE ASSETS & SCALE

• Through a World-Class Shared Services Organization • Network Model and Business Platform • Industry Leading Service Through In-Stock and On-Time Deliveries

Executing our strategy and fulfilling our purpose 10 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Executing our strategy and collectively achieving our goals…

GROW OUR PEOPLE & CULTURE

• Anchor Everything in a Sense of Purpose • Live our Values with a Commitment to Diversity & Inclusion • With a Focus on the Employee Experience Making it Easier to Get the Job Done

Executing our strategy and fulfilling our purpose 11 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Global Sustainability Goals Our global sustainability goals, first set out in 2017, remain the cornerstone of incorporating sustainability into our strategy and growth plans Committed to a Comprehensive ESG Approach

Our sustainability performance is evaluated through specific, measureable and realistic targets based on specific areas of focus:

Sustainability Policy: We maintain a global Sustainability Policy setting out our commitments to reporting in-line with key global frameworks.

o

Minimizing our environmental impact through decreasing emissions, reduction of hazardous waste and responsible handling of products

Sustainability Report: We publish a Sustainability Report annually that highlights the socially responsible aspects of our business and our commitment to board-level sustainability program oversight.

o

Developing targets consistent with the Science-Based Targets initiative (SBTi) campaign pledging to set goals to 2050 and outline strategy aligned with limiting global warming to 1.5 degrees Celsius

Environmental, Health & Safety Policy: We maintain an Environmental, Health & Safety Policy that promotes environmental responsibility and the health and safety of both our employees and the public.

o

Taking care of our employees by continuing to improve our industry leading safety record and increasing our organizational progress on equality, diversity and inclusion initiatives

o

Increasing transparency by strengthening our related disclosures, including: o Published the 2019 Sustainability Report with, GRI, SDG and SASB aligned disclosures with external verification on reporting claims and metrics o CDP questionnaire responses public

Sustainability Strategy Overview to 2021: We publish a high-level overview of our global sustainability strategy, identifying the key focus areas through which we are progressing business in a way that supports our people, planet, profit approach.

Code Handbook: We maintain a Code Handbook that is applicable to all of our directors, officers and employees, and we expect all of our business partners to act in a manner consistent with the Code Handbook.

Diversity, Equity and Inclusion Purpose Statement: We maintain a public purpose statement on our support for the fundamental human rights of all people and to fostering a culture that values diverse perspectives.

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Univar Solutions Progress Toward 2021 Sustainability Goals1 Energy & Emissions

Reduce energy use (MWh) and emissions (tCO2e) 15 percent by 2021 from 2016 baseline per million USD in sales.

Reduced Energy Use (1)

9.1%

Reduced Emissions (1)

Resource Use

Reduce hazardous waste 15 percent by 2021 against 2016 baseline per million USD in sales.

21%

15.9%

Our emissions intensity reductions in 2019 have equated to us taking over 7,500 cars off the road for a year.3

Achieve and exceed the global TCIR goal of 0.68 each year to 2021.

0.36

Beyond achieving our waste reduction target we also supported the recovery and reuse of packaging equivalent to 100,000 intermediate bulk containers (IBCs).4

Sustainable Supply Chain

Safety

Achieve 15 percent absolute reduction in significant spills by 2021 against 2016 baseline.

23%

GOAL: 15%

GOAL: 15% Our 2019 intensity reductions have saved enough energy to provide over 7,000 U.S. homes with electricity for a year.2

Reduced Hazardous Waste (1)

Responsible Handling

Establish and implement assessment of product suppliers for environmental and social responsibility in all regions by 2021.

47% reduction in TCIR from baseline

Expanded Supplier Assessments

Reduction in Significant Spills

GOAL: 15% Our commitment is to lead a “zero-release” culture. To the end of 2020 our teams achieved a significant reduction from our baseline, exceeding our goal.

Equality, Diversity & Inclusion

Engage our employees globally through structured confidential surveys to identify our current organizational culture in areas of equality and diversity.

Establishing Employee Networks

GOAL: 0.68 We are proud to have achieved one of our safest years on record in 2020, again exceeding our global TCIR goal.5 1) 2) 3) 4) 5) 6)

Beyond furthering supplier assessments, in 2019 we helped customers divert almost 200,000 tonnes of waste from landfills.

2019 progress shown against 2016 baseline data.

Reduction calculated on our 2019 global energy intensity against equivalent data in 2016. Based on average U.S. home annual electricity consumption (EIA, 2019).

Reduction calculated on our 2019 global emissions intensity against equivalent data in 2016. Based on emissions from average U.S. passenger vehicle (EPA, 2018).

Packaging recovery and reuse based on average weight of an unfilled IBC (Schuetz, 2017).

TCIR is the U.S. Occupational Safety & Health Administration (OSHA) method for calculating rates of recordable injuries per 200,000 hours worked.

Significant spill identified as a release from primary containment (>200Lbs/90Kg).

Univar Solutions has seven employee resource groups and in 2020 launched a Global Inclusion Council, the USA & Canada Inclusion Councils, and the Office of Inclusion employee volunteers.

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Measuring our progress…

Streamline 2022

Achieve below 3.0x leverage ratio by the end of 2021, maximize net free cash flow and deliver 9% Adjusted EBITDA(1) margin by the end of 2022.

• Through our S22 commitments • Rooted in a commitment to maximize our free cash flow generation • Increase our shareholder value as we continue

Executing our strategy and fulfilling our purpose (1)

Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

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Long-Term Growth in Adjusted EBITDA* and Margins* Core growth better than economic growth over the years $ millions

6.1%

6.3%

6.6%

6.2%

5.3% 4.2%

4.3%

$498 $250

2005

2006

6.4%

7.2%

4.1% $646

$282

5.6%

6.0%

6.8%

7.4%

$333

2007

2008

$438

2009

$499

2010

2011

Adjusted EBITDA*

$607

2012

$581

2013

$625

2014

$573

2015

$547

2016

$594

2017

$640

2018

7.6%

$704

2019

7.7%

$636

2020

Adjusted EBITDA Margin*

Note: Numbers for 2012 and prior years have not been retrospectively adjusted for the adoption of the retirement benefit accounting standard, ASU 2017-07. *Non-GAAP

Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

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Performance in a Downturn Semi-variable cost structure limits financial downside during a downturn

Peak Adjusted EBITDA* Decline: -12.0% $ millions

Duration Until Full Recovery: 4 quarters

Duration of Downturn: 4 quarters

$498

$646

$499 Full recovery

$438

Post-crisis trough

$333 $282 Q4 2006

Q1

Q2

Q3

2007

Q4

Q1

Q2

Q3

2008

Q4

Q1

Q2

Q3

2009

Q4

Q1

Q2

Q3

2010

Q4

Q1

Q2

Q3

Q4

2011

Note: figures show LTM Adjusted EBITDA. * Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

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Resilient Operating Cash Flow Cash flow generation is resilient through various market environments – including 2009 $ millions

$450 $364

$356 $231

$262

$217

$283

$289

$290 $227

$126

2007 ($92)

$16

$27

$9 2008

2009

($78)

($66)

2010 ($92)

2011

2012

2013

($103) ($170)

($141)

2014 ($114)

Net cash provided by operating activities

2015

2016

2017

($90)

($83)

($145)

2018 ($95)

2019

2020 ($111)

($123)

Capital expenditures

Note: Numbers for 2012 and prior years do not reflect retrospective reclassification for ASU 2016-15.

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Return on Invested Capital Asset light business model drives attractive Return on Invested Capital 11.0% 9.8%

10.1%

(1,2,3)

9.3%

We expect continued ROIC (1) increase as value capture program progresses

6.9%

2016

2017

2018

2019

2020

1) Legacy Univar results; ROIC calculated as Adjusted Net Income(2) divided by Net Assets Deployed.

2) Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

3) Management also utilizes alternative ROIC metrics for internal purposes and certain compensation plans.

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Goal to reduce leverage to below 3.0x by end of 2021 De-leveraging and improving credit quality Net Debt and Leverage Ratio (1)(2) Upgraded by Moody’s to B2 following equity IPO in June 2015

5.9x 5.2x

Upgraded by S&P to B+ in June 2017

Upgraded by Moody’s to B1 in Oct 2017

4.8x

Upgraded by Moody’s and S&P to Ba3/BB in Feb 2019

Upgraded by Fitch to BB+ in Feb 2021

4.1x 3.5x $3,666

2014

$2,963

2015

$2,643

2016

(2)

Net Debt

$2,428

$2,259

2017

2018

3.3x

(2)

Leverage Ratio

3.5x

$2,384

$2,256

2019

2020

1) Leverage ratio represents Net Debt / LTM Adjusted EBITDA, as defined by the Company's credit agreements, includes adjustments for acquisitions, divestitures and excludes the impact of synergies not yet realized. For December 31, 2019, LTM Adjusted EBITDA includes two months of Nexeo Chemicals Adjusted EBITDA, based on the 2018 full year estimate of $127 million for the periods prior to the acquisition on February 28, 2019.

2) Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

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Liquidity and Debt Maturity Profile

Deleveraging trend since IPO and strong liquidity to manage through challenging environments Strengthen Balance Sheet

Asset Lite and Modest CAPEX

Robust Liquidity

• Goal to reduce leverage to lower than 3.0x (1)

• CAPEX spend of ~$120M-$130M with ability to reduce if needed

• Q4 2020 liquidity of $855M(4)

• Q4 2020 leverage of 3.5x

• No significant debt maturities until 2024

• Weighted average cost of debt: 3.73%(2)

Divestments • Thorough portfolio review to determine value maximization • Potential for accelerated deleveraging with proceeds

• Asset lite model and focus on ROIC Debt Repayments

Debt Maturities (3) North American ABL USD Term Loans Senior Unsecured Notes CAD ABL Term Loan

$ millions

$266 $1,268 $4 $134

$4

$4

2021

2022

2023

1) 2) 3) 4)

$4 2024

2025

$376

$500

2026

2027

Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

As of Q4 2020; includes swaps.

Long term debt as of Q4 2020 and excludes finance lease obligations.

Liquidity comprised of $387 million of cash and cash equivalents and $468 million of availability under revolving credit facilities.

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Capital Allocation Strategy Consistent cash generation provides capital for opportunities to generate growth and shareholder returns • Expect to achieve S22 target of < 3.0x leverage by end of 2021 • Ample availability for operating liquidity • Targeting high ROI Capex projects to grow business opportunities • Selected M&A targets in core markets and geographies • Potential for return of capital available to shareholders post 2021

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Timeline of Corporate Governance Enhancements

We have steadily adopted changes to our governance structure to evolve from a private to a public company May 2018

• Amended bylaws to implement majority voting standard (with resignation policy) for director elections

August 2018

• Amended charter to declassify Board (in progress) • Amended bylaws to provide proxy access right

September 2018 • Announced agreement to acquire Nexeo Solutions

2015

2016

2017

May 2020 • Christopher Pappas serves as Independent Chair of Board

October 2020 • Appointed Rhonda Germany as Chair of GCR Committee • Approved proposal for 2021 Annual Meeting to eliminate the supermajority vote threshold in Certificate of Incorporation • Reduced the number of public boards upon which a Company director is permitted to serve • Adopted new clawback policy

2018

2019

2020

June 2015

May 2019

September 2019

• Debuted on public markets through IPO

• Elected Christopher Pappas as Independent Lead Director

• CD&R fully exited its position and directorships

August 2019

December 2019

• Adopted new retirement policy for Board where any director who is 75 or older cannot stand for reelection

• Stephen Newlin retired as an employee of the Company, and served as Non-Executive Chair until succeeded by Chris Pappas 22 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Appendix

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Recent Acquisitions and Divestiture Developments ACQUISITION OF NEXEO SOLUTIONS

Closed: February 28, 2019 Transaction Details: • Acquired Nexeo Solutions for a total transaction value of ~$1.8 billion Rationale: • Increased scale across key channels, geographies and suppliers – ERP Platform - $120M net cost synergies

DIVESTITURE OF NEXEO PLASTICS

Closed: March 29, 2019 Transaction Details: • Sold to One Rock Capital for approximately $667 million Rationale: • Allowed focus on its core business growth through chemical and ingredients distribution

INDUSTRIAL SPILL AND EMERGENCY RESPONSE BUSINESSES

DIVESTITURE OF CANADIAN AGRICULTURE SERVICES BUSINESS

Closed: September 1, 2020 Transaction Details: • Sold to EnviroServe Inc., a Savage Company Rationale: • Part of S22 initiatives to streamline our business and focus on core chemistries

Closed: November 30, 2020 Transaction Details: • Sold to previous owner Rationale: • Part of S22 initiatives to streamline our business and focus on core chemistries

DIVESTITURE OF UNIVAR ES BUSINESS(1)

Closed: December 31, 2019 Transaction Details: • Sold Environmental Sciences business to AEA Investors Rationale: • Intensify strategic focus on core chemicals and ingredients distribution business

ACQUISITION OF TECHI CHEM

Closed: December 18, 2020 Transaction Details: • Bought from Zhuhai Techi Chem Silicone Industry Corporation ("Techi Chem") Rationale: • Bring value to CASE customers in China by expanding our industry solutions

(1) For full transaction details, please refer to 8-K filed on January 6, 2020.

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End Market (1) Sales Trends - Q4 COVID-19 Impact End Markets

% of 2020 Revenue

Industrial Solutions

30%

Automotive industry returning to normalized production levels, providing growth in coatings, adhesives and polyurethanes. Lubricants and metal-working fluids beginning to recover, while industrial cleaning supported by renewed demand for cleaning agents.

Consumer Solutions

20%

Pharmaceuticals continue to enjoy robust double digit growth in the quarter. Personal care finished the year with double-digit growth, as contract manufacturers increased demand. Food and nutrients were soft due to ongoing weakness in the restaurant and food services industries.

General Industrial

30%

Ended the quarter just above 2019, with chemical manufacturing up against 2019, while water services and mining are down low single digits. Other end-markets such as lumber, pulp and paper all within range of 2019. Economic activity has progressively improved since June 2020 with encouraging signs for 2021.

Services & Other Markets

12%

Services business has stabilized in-line with the return of automotive production. Chemical waste management poised for growth in 2021 as clean-up activities accelerate in preparation for a return of industrial production. Energy exposure within the services business hampered growth during 2020.

Refining & Chemical Processing

8%

Low

Q4 Key Drivers

Downstream and refining production shows signs of stabilization and return to incremental growth. Upstream business stable to third quarter but down double digits compared to 2019.

100%

High 1.

See Appendix for further detail regarding the various sub-markets included within these five categories.

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Non-GAAP Financial Measures To supplement the consolidated financial results prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), the Company uses certain non-GAAP historical financial measures. In particular, the Company presents the non-GAAP financial measures Adjusted EBITDA , Adjusted EBITDA margin, leverage ratio and net debt. Return on invested capital is derived using the nonGAAP historical financial measure of adjusted net income. Management uses these non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. Management believes these non-GAAP financial measures help investors’ ability to analyze underlying trends in the Company’s business, evaluate its performance relative to other companies in its industry and provide useful information to both management and investors by excluding certain items that may not be indicative of the Company’s core operating results. Additionally, the Company uses Adjusted EBITDA in setting performance incentive targets to align management compensation with operational performance and uses return on invested capital to measure attainment of certain performance share units earned. The nonGAAP measures should not be considered a substitute for or superior to GAAP results and may vary from others in the industry.

Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies. A reconciliation of each non-GAAP historical financial measure to the most comparable GAAP measure is provided in the following pages.

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Strong Relationships With Premier Global Suppliers

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Appendix - Definitions of Non-GAAP Measures Adjusted EBITDA – Adjusted EBITDA is defined as consolidated net income (loss), plus the sum of net (income) loss from discontinued operations, net interest expense, income tax expense, depreciation, amortization, impairment charges, other operating expenses, net (which primarily consists of employee stock-based compensation expense, restructuring charges, litigation settlements, other employee severance costs, other facility closure costs, acquisition and integration related expenses and other unusual or non-recurring expenses), loss on extinguishment of debt and other (expense) income, net (which consists of gains and losses on foreign currency transactions and undesignated derivative instruments, non-operating retirement benefits, and other non-operating activity), and Brazil VAT charge. In addition, for 2019, Adjusted EBITDA includes an adjustment to remove the charge of the inventory fair value step-up recorded in connection with the Nexeo purchase price allocation.

Adjusted EBITDA Margin – Adjusted EBITDA divided by net sales on a consolidated level and by external sales on a segment level.

Adjusted Gross Profit (exclusive of depreciation) – Net sales less cost of goods sold (exclusive of depreciation) plus Brazil VAT charge and inventory step-up adjustment.

Constant Currency – Excludes the impact of fluctuations in foreign currency exchange rates. Currency impacts on consolidated and segment results have been derived by translating current period financial results in local currency using the average exchange rate for the prior period to which the financial information is being compared.

Conversion Ratio – Adjusted EBITDA divided by gross profit (exclusive of depreciation).

Delivered Gross Profit – Gross profit (exclusive of depreciation) less outbound freight and handling.

Delivered Gross Margin - Delivered gross profit divided by net sales on a consolidated level and by external sales on a segment level.

Free Cash Flow – GAAP net cash provided (used) by operating activities, less capital expenditures, before integration and transaction related costs.

Gross Profit (exclusive of depreciation) – Net sales less cost of goods sold (exclusive of depreciation).

Gross Margin – Gross profit (exclusive of depreciation) divided by net sales on a consolidated level and by external sales on a segment level.

Leverage ratio – Total net debt divided by Last twelve LTM Adjusted EBITDA. Net Assets Deployed – Average net working capital (trade accounts receivable plus inventory less trade accounts payable) plus average net property, plant & equipment.

Net Debt – Total short-term and long-term debt plus short-term financing less cash and cash equivalents.

Net Free Cash Flow – GAAP net cash provided (used) by operating activities, less capital expenditures.

Net Free Cash Flow Conversion – GAAP net cash provided (used) by operating activities, less capital expenditures divided by Adjusted EBITDA. Net Working Capital – Trade accounts receivable plus inventory less trade accounts payable.

Total Cash Flow available to pay down debt before Acquisitions and Divestitures – GAAP net cash provided by operating activities, including net cash used by investing activities, excluding cash flow from acquisitions and divestitures.

Return on Invested Capital – Last twelve months (LTM) Adjusted net income divided by net assets deployed.

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Appendix - Associated Sub-Market to End-Market Mapping Macro Category

2020 Macro Percentages

Submarket Coatings & Adhesives

Industrial Solutions

Consumer Solutions

General Industrial

Services and Other Markets Refining & Chemical Processing Total

30%

20%

30%

12% 8% 100%

Percentage of 2020 Revenue 17%

Homecare & Industrial Cleaning

6%

Metalworking & Lubricants Others such as Rubber & Plastics, Construction, Polyurethane, etc that are less than 2% Pharmaceutical Ingredients & Finished Products

3%

6%

Beauty & Personal Care

7%

Food Ingredients & Products

7%

Chemical Manufacturing Agricultural Water Treatment Wholesale & Retail Forestry, Lumber & Paper Electronics Others such as Mining, Machinery, Other Solvents, etc. that are less than 2% Other

11% 4% 4% 2% 2% 2%

12%

Energy & Power Generation

5%

Upstream Oil & Gas

3%

Total

4%

5%

100% 29 © 2021 Univar Solutions Inc. All rights reserved. Confidential and content subject to change.

Appendix – Liquidity and Cash Flow Highlights Credit Rating

•

On February 1, 2021, Fitch upgraded the corporate ratings to BB+ (stable) citing commitment to reducing leverage nand resiliency of free cash flow • Ba3 (stable) / BB (stable) / BB (positive) from Moody’s, S&P, and Fitch; •

Debt Structure and Recent Actions

Maturities

Financial Covenants Liquidity

Levers to Unlock Cash

(1) (2) (3) (4)

•

Total net debt(4) of $2.3 billion • $1.3 billion and $396 million of Term Loan B priced at L+225 and L+200; respectively • $1.5 billion and €200 million revolving credit facilities in North America and Europe; respectively • $500 million Senior Unsecured Notes at 5.125% 84% fixed vs 16% floating rate debt inclusive of interest rate swaps as of December 31, 2020

•

No substantial maturities until 2024

• • •

Minimum Fixed Charge Coverage Ratio (“FCCR”)(1) of 1.0x required if availability(2) under revolving credit facilities falls below 10% of the borrowing base(3) • FCCR was 4.5x as of December 31, 2020 $1.3 billion Term Loan spread of 2.25% if leverage ratio below 4.0x (otherwise 2.50%) Leverage ratio(4) was 3.5x as of December 31, 2020

• •

Cash on balance sheet of $386.6 million as of December 31, 2020 Availability(2) under credit facilities of $468.3 million as of December 31, 2020

•

Benefitting from interest expense savings due to reduction of debt and refinancing on Term Loans, Senior Unsecured Notes, and revolving credit facilities. Over $100 million of annual interest expense reductions since 2014 Revolving credit facilities provide financial flexibility Potential non-core divestitures and asset sales to accelerate deleveraging Counter-cyclical cash flow; if sales decline, ability to harvest cash if needed

• • •

FCCR per ABL Credit Agreement found in Exhibits of our Annual Report on form 10-K for fiscal year ended December 31, 2019, filed on February 25, 2020.

Availability under ABL revolving credit facilities calculated as the total borrowing base less ABL borrowings and letters of credit.

Borrowing base defined as eligible accounts receivable and inventory under certain borrowers of the ABL credit facilities.

Non-GAAP Measures; see Appendix for definitions and reconciliations to the most directly comparable GAAP financial measures.

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Appendix - GAAP Net (Loss) Income to Adjusted EBITDA Reconciliation Net income (loss) Net income from discontinued operations Depreciation / amortization

2005

2006

2007

$ 121.3

$ 133.3

$ 46.7

2008 $

(8.0)

2009 $

(2.2)

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

$ (70.6)

$ (176.2)

$ (197.4)

$ (82.3)

$ (20.1)

$ 16.5

$ (68.4)

$ 119.8

$ 172.3

$ (100.2)

$ 52.9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41.4

46.6

81.6

132.4

126.4

128.6

198.4

205.0

228.1

229.5

225.0

237.9

200.4

179.5

294.5

250.6

207.0

159.9

148.0

(15.8)

10.2

(11.2)

49.0

Interest expense, net

27.9

31.0

127.0

315.6

307.2

301.9

273.6

268.1

Income tax expense (benefit)

58.9

71.2

59.6

18.7

14.2

30.4

15.9

75.6

249.5

282.1

314.9

458.7

445.6

390.3

311.7

351.3

-

-

-

-

(39.1)

86.2

140.3

177.7

-

-

17.9

39.3

(4.6)

(4.5)

4.0

1.9

36.0

12.6

173.9

75.8

135.6

EBITDA Other operating (income) expense, net Other expense (income), net

(1)(2)

(2)

Impairment charges

-

-

-

-

Gain on sale of business

-

-

-

-

-

-

-

14.5

16.1

-

(9.8)

(5.4)

-

214.7

222.9

132.4

139.5

112.4

49.9

104.5

6.1

430.5

444.2

458.7

318.2

517.2

534.1

353.1

394.3

85.5

79.3

89.0

37.2

55.4

73.5

298.2

90.2

(73.4)

99.8

13.5

58.1

17.4

32.7

70.5

58.4

-

0.3

-

133.9

-

-

7.0

40.2

-

-

-

-

-

(41.4)

50.6

Loss on extinguishment of debt

-

-

-

-

-

0.5

2.5

1.2

-

3.8

0.1

19.8

1.8

Brazil VAT recovery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(8.3)

0.3

Inventory step-up adjustment (1) Adjusted EBITDA

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5.3

$ 249.5

$ 282.1

$ 332.8

$ 498.0

$ 437.9

$ 499.1

$

646.0

$ 607.2

$ 580.7

$ 624.8

12.1

$ 573.3

$ 547.4

$ 593.8

$ 640.4

$

704.2

$ 635.8

2013-2018 Notes: (1) Retirement benefit restatement adjustments for 2013-2018 include pension and other post retirement benefits interest cost, expected return on assets, and prior service credits.

(2) Retirement benefit restatement adjustments for 2013-2018 include pension and other post retirement benefits mark to market gain/loss, curtailments, and settlements.

2005-2012 Notes: (1) 2005-2012 numbers have not been retrospectively adjusted for ASU 2017-07. Do not include retirement benefit restatement adjustments for pension and other post retirement benefits interest cost, expected return on assets, and prior service credits.

(2) 2005-2012 numbers do not include retirement benefit restatement adjustments for pension and other post retirement benefits mark to market gain/loss, curtailments, and settlements.

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Appendix - Reconciliation of Net Income (Loss) to Adjusted Net Income 2017 Net income (loss) Net income from discontinued operations Pension mark to market loss (1) Pension curtailment and settlement gains (1) Other non-recurring pension items Exchange loss (gain) (1) Derivative loss (gain) (1) (Gain) loss on sale of business, property, plant and equipment and other assetss (1) Restructuring, employee severance and other facility closure costs (1) Impairment charges Inventory step-up adjustment Brazil VAT recovery Loss on extinguishment of debt and debt refinancing costs Acquisition and integration related costs (1) (1)

Saccharin legal settlement Transformation costs (1) Fair value adjustment for warrants (1) Other (1) Income tax expense (benefit) related to reconciling items (2) (2)

US tax legislation Other discrete tax items (2) Adjusted net income

$ 119.8 -

2018 $

3.8 (9.7) 22.5

172.3 -

2019 $

(100.2) (5.4)

2020 $

52.9 -

34.2 2.5 7.5

50.4 (1.3) (7.4)

52.8 (0.6) 6.8

1.9

(1.1)

26.7

4.8

(11.3)

2.0

(51.3)

26.9

13.6 9.1 3.1

21.2 0.1 22.0

40.9 7.0 5.3 (8.3) 21.0 152.1

31.4 40.2 0.3 1.9 62.4

23.4 10.4 (12.1)

10.7 (25.6)

62.5 7.0 23.6 9.5

0.8 7.8 (63.9)

36.6 (14.0) $ 197.1

(15.6) 230.2

(0.5) 231.6

(12.6) 211.9

$

$

$

(1)

Reconciling items represent items disclosed in "Note 6: Other operating expenses, net" and "Note 8: Other expense, net" in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2020, excluding stock-based compensation and non-operating retirement benefits.

(2) Tax on reconciling items is calculated as the difference between the tax provisions on US GAAP pre-tax earnings and Adjusted pre-tax earnings utilizing the appropriate tax rates and laws of each jurisdiction.

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Appendix – GAAP Debt to Net Debt Reconciliation ($ in millions)

Total short-term and long-term debt Add: Short-term financing Less: Cash and cash equivalents Total net debt (1)

LTM Adjusted EBITDA

Leverage ratio (Total net debt/LTM Adjusted EBITDA) (1)

2014 $ 3,811.3 61.1 (206.0) $ 3,666.4

2015 $ 3,117.3 33.5 (188.1) $ 2,962.7

2016 $ 2,954.0 25.3 (336.4) $ 2,642.9

2017 $ 2,882.0 13.4 (467.0) $ 2,428.4

2018 $ 2,372.1 8.1 (121.6) $ 2,258.6

2019 2020 $ 2,713.8 $ 2,640.6 0.7 2.1 (330.3) (386.6) $ 2,384.2 $ 2,256.1

$

$

$

$

$

$

624.8 5.9x

573.3 5.2x

547.4 4.8x

593.8 4.1x

640.4 3.5x

725.4 $ 3.3x

635.8 3.5x

LTM Adjusted EBITDA, as defined by the Company's credit agreements, includes adjustments for acquisitions, divestitures and excludes the impact of synergies not yet realized. For December 31, 2019, LTM Adjusted EBITDA includes two months of Nexeo Chemicals Adjusted EBITDA, based on the 2018 full year estimate of $127 million for the periods prior to the acquisition on February 28, 2019.

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