WHITE TALE STATEMENT REGARDING CLARIANT

November 28, 2017

White Tale Holdings ("White Tale") was disappointed by the recent statement of the Board of Clariant on November 24, 2017. Only days prior, we traveled to Zurich to meet with members of the Board of Clariant for the first time, in good faith, to discuss our views and reiterate our commitment to the long-term future of the company. Unfortunately, it now appears, the less than two-hour meeting was perfunctory as we later learned of their response in the media.
 

As the largest shareholder of Clariant, currently holding over 20%, White Tale has been consistent in both private conversations and in our public statements about the need for a thorough, independent review of all strategic alternatives. We have never advocated the break up of the company despite the false claims by Clariant.
 

As we have said before, White Tale is committed, as long-term investors, to the success of Clariant, its employees and all shareholders.
 

We look forward to bringing these matters to shareholders directly.

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