Venator Materials PLC, along with its affiliates filed a pre-packaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 14, 2023. As per the plan filed, Administrative Claims, Priority Tax Claims, DIP Claims, Professional Fee Claims, Other Secured Claims, Other Priority Claims, and General Unsecured Claims shall be paid in full in cash. Senior Secured Claims of $590.81 million shall be recovered 42.7% i.e., $252.28 million, and Senior Unsecured Notes Claims of $382.13 million shall be recovered 7.3% i.e., $27.90 million shall be paid on pro rata basis.

Intercompany Claims and Intercompany Interests shall be reinstated. Existing Equity Interests shall be cancelled. The plan shall be funded through cash in hand, the proceeds from the Exit Facilities, Cash proceeds from the sale of Rights Offering Shares from the Rights Offering, and the New Ordinary Shares.

Venator Materials PLC, along with its affiliates filed a modified pre-packaged plan of reorganization in the US Bankruptcy Court on July 16, 2023. As per the modified plan filed, there are no changes in treatment of any claim class or sources of plan funding. Venator Materials PLC, along with its affiliates filed a modified pre-packaged plan of reorganization in the US Bankruptcy Court on July 19, 2023.

As per the modified plan filed, there are no changes in treatment of any claim class or sources of plan funding.