On January 12, 2022, Huntsman Corporation issued the following statement in response to the letter and nomination notice the Company received from Starboard Value LP. The Huntsman Board of Directors actively oversaw that performance, and it continues to oversee the Company's announced comprehensive initiatives, all of which enhance accountability and alignment with our shareholders, 1) including Initiating a strategic review process for the Textile Effects Division to continue advancing our focus on portfolio enhancement; 2) Authorizing new share repurchases of $1 billion over the next three years, building on the $682 million of share repurchases Huntsman has completed since 2018; 3) Implementing a multi-year incentive compensation program for all Huntsman officers and vice presidents that ties the vast majority of their incentive compensation to the achievement of the Investor Day targets, thereby promoting transparency, ensuring objective accountability and fostering execution; and 4) Substantially completing the Board refreshment process. Further, Huntsman Corporation stated that the Board will review the nomination notice pursuant to established policies and present its recommendations with respect to the election of directors in the Company's definitive proxy statement, which will be filed with the Securities and Exchange Commission and mailed to all shareholders eligible to vote at the Annual Meeting.

As previously disclosed, the Annual Meeting will take place on March 25, 2022.