Imerys

Investor Presentation • Jun 12, 2019

PARIS, JUNE 12, 2019

Imerys presents its 2019-2022 strategic plan at its Capital Markets Day

• Implementation of a 6-pillar Group transformation program "Connect & Shape"
• Ambition to gradually ramp up organic growth to reach underlying markets level by 2022 ¹
• €100 million expected cost savings in full in 2022
• Operating profitability target: 2022 Current EBITDA margin up by +200 basis points vs. 2018²

Imerys will host a Capital Markets Day on June 13 in London, during which the Group will present its strategic 2019-2022 orientations.

CEO Conrad Keijzer commented:

" Imerys has successfully repositioned its portfolio into a pure player in specialty mineral solutions to become the global leader with a strong Corporate and Social Responsibility commitment. It has achieved leadership positions in most of its businesses, with a strong customer base and a diversified portfolio of high-performance solutions. Imerys has launched a transformation program with an ambition to step up organic growth and improve profitability. With this "Connect & Shape" program, we will become more market focused and customer-centric, while building a simpler organization. We will drive functional excellence with more expertise and standardized processes and accelerate in high growth geographies. Our new operating model will allow for better operating leverage and easier integration and synergies extraction from future acquisitions."

Connect & Shape action plan

With our "Connect & Shape" transformation program, Imerys adopts a new operating model which relies on 6 pillars aiming to step-up its organic growth and improve its operating profitability in the medium term.

Ambition to step up organic growth	● Customer-centric organization to capture full growth potential ● Differentiated business mandates to allocate resources to higher growth businesses ● Increased focus on high-growth geographies ● Continued M&A with better integration model
Target to improve profitability	● Leaner and more efficient organization ● Functional excellence in operations and purchasing

¹ Estimated average underlying markets growth of ca. 2% per year in normal trading conditions.

² Current EBITDA margin was 17.3% in 2018.

2022 key financial targets

Imerys has the ambition to gradually ramp up its organic growth and increase its profitability.

Improved growth and profitability profile	● Ambition to gradual ramp up of organic growth to reach underlying markets level by 2022 ● €100 million expected cost savings in full in 2022 ● 2022 current EBITDA margin up by +200 bp versus 2018
Disciplined capital allocation	● €300 million - €350 million annual total capital expenditures ● Development capital expenditures with target IRR of 15% ● Acquisitions with ROCE > WACC within 3 full years of integration
Sound balance sheet	● Solid investment grade rating
Commitment to attractive shareholder returns	● Consistent dividend growth in line with growth in net income from current operations per share, with flexible payout ratio

Live webcast and replay

The event will start at 9:30 CET in London on June 13, 2019. It can be watched on a live webcast at the following address: https://channel.royalcast.com/webcast/imerys/20190613_1/.

The presentations may be downloaded and subsequently a replay will be made available at: www.imerys.com/finance.

Financial agenda 2019

July 25, 2019 (post market)	H1 2019 Results
October 29, 2019 (post market)	Q3 2019 Results

These dates are tentative and may be updated on the Group's website at www.imerys.com/finance, in the Investors & Analysts / Financial Agenda section.

The world leader in mineral-based specialty solutions for industry, with €4.6 billion revenue and 18,000 employees, Imerys delivers high value-added, functional solutions to diversified set of industrial sectors, from processing industries to consumer goods. The Group draws on its knowledge of applications, technological expertise and its material science know-how to deliver solutions based on beneficiation of its mineral resources, synthetic minerals and formulations. These contribute essential properties to customers' products and performance, including refractoriness, hardness, conductivity, opacity, durability, purity, lightness, filtration, absorption and repellency. Imerys is determined to develop responsibly, in particular by fostering the emergence of environmentally-friendly products and processes.

More comprehensive information about Imerys may be obtained from its website (www.imerys.com) under Regulated Information, particularly in its Registration Document filed with Autorité des marchés financiers on March 20, 2019 under number D.19-0175 (also available from the Autorité des marchés financiers website, www.amf-france.org). Imerys draws the attention of investors to chapter 4, "Risk Factors and Internal Control", of its Registration Document.

Disclaimer: This document contains projections and other forward-looking statements. Investors are cautioned that such projections and forward-looking statements are subject to various risks and uncertainties (many of which are difficult to predict and generally beyond the control of Imerys) that could cause actual results and developments to differ materially from those expressed or implied.

Analyst / Investor Relations:	Press contacts:
Vincent Gouley - +33 (0)1 4955 6469	Claire Garnier - +33 (0)1 4955 6427
finance@imerys.com	Philémon Tassel - +33 (0)6 3010 9611