Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Indorama Holdings BV” of assets related to the titanium dioxide activity held by the company “Venator P&A Spain SL” and the exclusive takeover of its subsidiary “Oligo SA”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: “Indorama Holdings BV” (directly or through one of its subsidiaries);
• The assets and target entity: The business unit owned by the company “Venator PA Spain SL” (including assets, rights and obligations related to the manufacture and distribution of titanium dioxide-based products and the titanium dioxide plant located in Huelva, Spain) as well as the exclusive control of its subsidiary “Oligo SA” through the acquisition of 75% of its share capital and associated voting rights.

Nature of the operation:

• Asset purchase;
• Exclusive control.

Economic sector concerned:

• Chemical industry – manufacture and distribution of titanium dioxide pigments.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e., March 2, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project concerning the acquisition by the company “Indorama Holdings BV” of assets related to the titanium dioxide activity held by the company “Venator P&A Spain SL” as well as the exclusive takeover of its subsidiary “Oligo SA” through the acquisition of 75% of its share capital and associated voting rights.

“Indorama Holdings BV” is a limited liability company established under the laws of the Netherlands, registered with the Chamber of Commerce of the Netherlands under number 51904853, with its registered office at Beursplein 37, 3011 AA Rotterdam, Netherlands. It is a subsidiary of the company “Indorama Corporation Pte. Ltd”, owned by the trust “The Lohia Global Trust”. “Indorama Holdings B.V” is engaged in the manufacture and sale of nitrogen fertilizers, fertilizer additives, phosphate fertilizers, polyethylene, polypropylene, polyester, textiles, cotton fibers, and medical gloves.

The target assets consist of the entire production unit owned by “Venator P&A Spain SL”, a Spanish limited liability company, registered with the commercial register under the tax identification number (NIF) B61979001, with its registered office at Poligono Industrial Nuevo Puerto, calle A s/n, Palos de la Frontera, Huelva, Spain. It is 100% owned by the company “Venator Materials International UK Limited”. Specifically, the operation concerns assets related to the manufacture and distribution of titanium dioxide-based products and the titanium dioxide plant located in Huelva, Spain, the land and buildings, facilities and machinery, assets, employees, legal relationships, contracts, licenses, and intellectual property rights.

The target entity: “Oligo SA” is a Spanish public limited company, registered with the commercial register under the tax identification number (NIF) A-21177787, with its registered office at Poligono Industrial Nuevo Puerto, calle A s/n, Palos de la Frontera, Huelva, Spain. It is exclusively controlled by the company “Venator P&A Spain SL” which holds 75% of its share capital and associated voting rights. “Oligo SA” operates as a toll manufacturer for the titanium dioxide production unit of “Venator P&A Spain SL”, recovering secondary residues from titanium dioxide production and transforming them into commercially valuable products such as fertilizers.

Done in Rabat on February 19, 2026