Clariant rejects Shell’s allegations against four companies related to the 2020 competition law infringement

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

MUTTENZ, OCTOBER 19, 2023 – Clariant, a sustainability-focused specialty chemical company, today announced that on Wednesday, 18 October 2023, Shell formally brought a claim for damages against four companies, including Clariant, with the court of Amsterdam. The reason for the claim is alleged damages amounting up to EUR 1 billion in relation to infringements of competition law on the ethylene purchasing market which was sanctioned by the European Commission in July 2020. Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings. Shell was not a supplier of ethylene to Clariant and Clariant has substantiated economic evidence that the conduct of the parties did not produce any effect on the market.