8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 2, 2018

Trinseo S.A.

(Exact name of registrant as specified in its charter)

Luxembourg	001-36473	N/A
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

1000 Chesterbrook Boulevard, Suite 300,

Berwyn, Pennsylvania 19312

(Address of principal executive offices, including zip code)

(610) 240-3200

(Telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

ITEM 2.02Results of Operations and Financial Condition

On May 2, 2018, Trinseo S.A., a public limited liability company (société anonyme) existing under the laws of Luxembourg (the “Company”), issued a press release announcing its financial results for the first quarter ended March 31, 2018. A copy of the press release is furnished as Exhibit 99.1 hereto. The Company intends to hold an investor call and webcast to discuss these results on Thursday, May 3, 2018 at 10 AM Eastern Time. Ahead of this call the Company is also providing investors with prepared remarks and a copy of the investor presentation materials, which will be discussed on the call and are furnished hereto as Exhibits 99.2 and 99.3, respectively.

The information contained herein and in the accompanying exhibits shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01.Financial Statements and Exhibits

(d) Exhibits

Exhibit Number	Description
99.1	Press Release, dated May 2, 2018
99.2	Management Commentary, dated May 2, 2018
99.3	Investor Presentation, dated May 2, 2018

2

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated May 2, 2018
99.2	Management Commentary, dated May 2, 2018
99.3	Investor Presentation, dated May 2, 2018

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRINSEO S.A.
	By:	/s/ Barry J. Niziolek
	Name:	Barry J. Niziolek
	Title:	Executive Vice President and Chief Financial Officer
Date: May 2, 2018

4

EX-99.1

Exhibit 99.1

Press contacts:		Investor Contact:
Trinseo	Makovsky	Trinseo
Donna St. Germain	Doug Hesney	David Stasse
Tel : +1 610-240-3307	Tel: +1 212-508-9661	Tel : +1 610-240-3207
Email: stgermain@trinseo.com	Email: dhesney@makovsky.com	Email: dstasse@trinseo.com

Trinseo Reports Record First Quarter 2018 Financial Results; Increases 2018 Full Year Outlook

First Quarter 2018 Highlights

·Net Income of $120 million and diluted EPS of $2.71

·Adjusted EPS of $2.76

·Adjusted EBITDA of $195 million

·Cash provided by operating activities of $41 million; Free Cash Flow of $10 million

	Three Months Ended
	March 31,
$millions, except per share data	2018	2017
Net Sales	1,122	1,104
Net Income	120	117
EPS(Diluted) ($)	2.71	2.59
Adjusted Net Income*	122	110
Adjusted EPS ($)*	2.76	2.42
EBITDA*	192	190
Adjusted EBITDA*	195	182

*For a reconciliation of EBITDA, Adjusted EBITDA, and Adjusted Net Income to Net Income, as well as a reconciliation of Adjusted EPS, see note 2 below.

BERWYN, Pa — May 2, 2018 — Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders and synthetic rubber, today reported its first quarter 2018 financial results, including record profitability, with net sales of $1,122 million, net income of $120 million, and earnings per diluted share of $2.71. First quarter Adjusted EPS was $2.76 and Adjusted EBITDA was $195 million.

Net sales in the first quarter increased 2% versus prior year due to favorable currency, as the euro strengthened in comparison to the U.S. dollar, which had a positive impact across all segments. This impact was partially offset by lower sales volume, primarily in the Latex Binders, Feedstocks, and Synthetic Rubber segments, as well as the pass through of lower raw material costs. First quarter net income of $120 million was $3 million higher than prior year. First quarter Adjusted EBITDA of $195 million was $13 million higher than prior year. The higher profitability was due primarily to higher styrene monomer margins and higher production volume, as the prior year included maintenance outages at the Company’s and Americas Styrenics’ styrene units, as well as currency impacts, as the euro strengthened in comparison to the U.S. dollar. These impacts were partially offset by a favorable net timing impact of $22 million in the prior year, in comparison to an unfavorable impact of $7 million in the current year, as well as lower Adjusted EBITDA in the Latex Binders and Synthetic Rubber segments.

Commenting on the Company’s performance, Chris Pappas, Trinseo President and Chief Executive Officer, said, “We started the year very strong, including record profitability in the first quarter. This performance exceeded our guidance due mainly to additional impacts from unplanned styrene outages, and continued solid results across all segments. We remain on track to deliver on our aggregate $100 million 2016 to 2019 Adjusted EBITDA growth target in Performance Plastics, Latex Binders, and Synthetic Rubber.”

First Quarter Results and Commentary by Business Segment

Effective January 1, 2018, the Company realigned its reporting segments to reflect the new model under which the business will be managed. Under this new segmentation, the Company will continue to report operating results for six segments, four of which will remain unchanged from the Company’s previous segmentation: Latex Binders, Synthetic Rubber, Feedstocks, and Americas Styrenics. The results of its Polystyrene business, which was previously included within the results of the Basic Plastics segment, is now reported as a standalone segment. Performance Plastics, which previously consisted of compounds, blends, and ABS products sold to the automotive market, now also includes the remaining portion of the ABS business, as well as the results of the SAN and polycarbonate businesses. This segmentation change will provide enhanced clarity to investors by concentrating the Company’s more specialized plastics into a single reporting segment, while also reducing complexity as polycarbonate and ABS are the primary inputs into the downstream production of its compounds and blends. Prior period amounts herein have been recast to reflect this new segmentation.

·Latex Binders net sales of $255 million for the quarter decreased 12% versus prior year primarily from lower sales volume to the paper and carpet markets in North America and Europe as well as the pass through of lower raw material costs.  Adjusted EBITDA of $27 million was $10 million below prior year, due to more favorable raw material dynamics in the prior year as well as lower sales volume.

·Synthetic Rubber net sales of $149 million for the quarter decreased 9% versus prior year primarily due to the pass through of lower raw material costs as well as lower ESBR sales volume. These impacts were partially offset by record SSBR sales volume as well as currency impacts. Adjusted EBITDA of $26 million was $20 million below prior year from unfavorable net timing impacts of $15 million, as well as lower ESBR sales volume and margin on export sales due to very favorable butadiene conditions in the prior year.

·Performance Plastics net sales of $403 million for the quarter was 20% above prior year due to favorable currency impacts as well as higher polycarbonate pricing and the pass through of higher raw material costs. The acquisition of API Plastics resulted in a 4% increase in net sales. Adjusted EBITDA of $66 million was $14 million above prior year primarily from higher polycarbonate margins due to tight market conditions.

·Polystyrene net sales of $240 million for the quarter was 5% above prior year due to currency impacts, which were partially offset by the pass through of lower raw material costs. Adjusted EBITDA of $10 million was $4 million below prior year due to unfavorable net timing, reflecting a favorable impact in the prior year with increasing raw material costs. This impact was partially offset by higher margins in Europe.

·Feedstocks net sales of $75 million for the quarter was 14% below prior year due to lower styrene related sales volume as well as the pass through of lower styrene prices. Adjusted EBITDA of $42 million was equal to prior year as higher styrene production volume in the current year offset favorable raw material timing in the prior year.

·Americas Styrenics Adjusted EBITDA of $46 million for the quarter was $28 million above prior year due mainly to an extended production outage in the prior year as well as higher styrene spot sales margins.

First Quarter Cash Generation

Cash provided by operating activities for the quarter was $41 million and capital expenditures were $31 million, resulting in Free Cash Flow for the quarter of $10 million. First quarter cash from operations and Free Cash Flow included approximately $105 million of higher working capital primarily from increasing sales and raw material prices as well as higher inventory levels ahead of second quarter planned maintenance. At the end of the quarter, the Company had $399 million of cash which reflected $24 million of share repurchases during the quarter. For a reconciliation of Free Cash Flow to cash provided by (used in) operating activities, see note 3 below.

Outlook

·Second quarter 2018 net income of $93 million to $101 million and earnings per diluted share of $2.10 to $2.28

·Second quarter 2018 Adjusted EBITDA of $160 million to $170 million and Adjusted EPS of $2.10 to $2.28

·Full year 2018 net income of $392 million to $408 million and earnings per diluted share of $8.82 to $9.19

·Full year 2018 Adjusted EBITDA of $665 million to $685 million and Adjusted EPS of $8.87 to $9.24

Commenting on the outlook for the second quarter and full year 2018 Pappas said, “We expect continued strong performance in the second quarter. Styrene margins have remained healthy to start the quarter and business fundamentals remain solid which should lead to robust profitability in the first half of the year.”

Pappas continued, “Looking ahead to the full year performance, we are raising our 2018 net income and Adjusted EBITDA guidance. This outlook includes solid performance across the portfolio. In addition, we continue to expect strong cash generation for the year and remain focused on the right balance of growth and returning cash to shareholders.”

For a reconciliation of second quarter and full year 2018 net income to Adjusted EBITDA and Adjusted EPS, see note 2 below. Additionally, refer to the appendix within Exhibit 99.3 of our Form 8-K, dated May 2, 2018, for further details on how net timing impacts are defined and calculated for our segments.

Conference Call and Webcast Information

Trinseo will host a conference call to discuss its first quarter 2018 financial results on Thursday, May 3, 2018 at 10 AM Eastern Time.

Commenting on results will be Chris Pappas, President and Chief Executive Officer, Barry Niziolek, Executive Vice President and Chief Financial Officer, and David Stasse, Vice President, Treasury and Investor Relations. The conference call will be available by phone at:

Participant Toll-Free Dial-In Number: +1 866-393-4306

Participant International Dial-In Number: +1 734-385-2616

Conference ID: 6757049

The Company will also offer a live Webcast of the conference call with question and answer session via the registration page of the Trinseo Investor Relations website.

Trinseo has posted its first quarter 2018 financial results on the Company’s Investor Relations website. The presentation slides will also be made available in the webcast player prior to the conference call. The Company will also furnish copies of the financial results press release and presentation slides to investors by means of a Form 8-K filing with the U.S. Securities and Exchange Commission.

A replay of the conference call and transcript will be archived on the Company’s Investor Relations website shortly following the conference call. The replay will be available until May 3, 2019.

About Trinseo

Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. We are focused on delivering innovative and sustainable solutions to help our customers create products that touch lives every day — products that are intrinsic to how we live our lives — across a wide range of end-markets, including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. Trinseo had approximately $4.4 billion in net sales in 2017, with 16 manufacturing sites around the world, and approximately 2,200 employees. For more information visit www.trinseo.com.

Recast of Financial Statements for New Accounting Standard

On January 1, 2018, the Company adopted pension accounting guidance that requires employers to present the service cost component of net periodic benefit cost in the same statement of operations line item as other employee compensation costs arising from services rendered during the period. As a result of this adoption, for the three months ended March 31, 2017, the Company reclassified net periodic benefit cost of $1.2 million from “Cost of sales” and $0.8 million from “Selling, general, and administrative expenses” to “Other income, net” within the condensed consolidated statement of operations.

Use of non-GAAP measures

In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America (“GAAP”), we use additional measures of income excluding certain GAAP items (“non-GAAP measures”), such as Adjusted EBITDA and, Adjusted EPS and measures of liquidity excluding certain GAAP items, such as Free Cash Flow. We believe these measures are useful for investors and management in evaluating business trends and performance each period.  These income measures are also used to manage our business and assess current period profitability, as well as to provide an appropriate basis to evaluate the effectiveness of our pricing strategies. Such measures are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance or liquidity, as applicable. The definitions of each of these measures, further discussion of usefulness, and reconciliations of non-GAAP measures to GAAP measures are provided in the Notes to Condensed Consolidated Financial Information presented herein.

Note on Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “target,” “outlook,” “guidance,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release may include, without limitation, forecasts of growth, net sales, business activity, acquisitions, financings and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such factors include, among others: conditions in the global economy and capital markets, volatility in costs or disruption in the supply of the raw materials utilized for our products; loss of market share to other producers of styrene-based chemical products; compliance with environmental, health and safety laws; changes in laws and regulations applicable to our business; our inability to continue technological innovation and successful introduction of new products; system security risk issues that could disrupt our internal operations or information technology services; the loss of customers; the market price of the Company’s ordinary shares prevailing from time to time; the nature of other investment opportunities presented to the Company from time to time; and the Company’s cash flows from operations. Additional risks and uncertainties are set forth in the Company’s reports filed with the United States Securities and Exchange Commission, which are available at http://www.sec.gov/ as well as the Company’s web site at http://www.trinseo.com. As a result of the foregoing considerations, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

TRINSEO S.A.

Condensed Consolidated Statements of Operations

(In millions, except per share data)

(Unaudited)

	Three Months Ended
	March 31, 2018			March 31, 2017
Net sales	$	1,121.6		$	1,104.5
Cost of sales	946.4			905.5
Gross profit	175.2			199.0
Selling, general and administrative expenses	64.4			59.6
Equity in earnings of unconsolidated affiliates	45.5			19.3
Operating income	156.3			158.7
Interest expense, net	14.9			18.2
Other income, net	(3.8		)	(6.1		)
Income before income taxes	145.2			146.6
Provision for income taxes	24.9			29.3
Net income	$	120.3		$	117.3
Weighted average shares- basic	43.4			44.1
Net income per share- basic	$	2.77		$	2.66
Weighted average shares- diluted	44.4			45.3
Net income per share- diluted	$	2.71		$	2.59
Dividends per share	$	0.36		$	0.30

TRINSEO S.A.

Condensed Consolidated Balance Sheets

(In millions, except per share data)

(Unaudited)

	March 31,			December 31,
	2018			2017
Assets
Current assets
Cash and cash equivalents	$	398.9		$	432.8
Accounts receivable, net of allowance for doubtful accounts	728.7			685.5
Inventories	588.3			510.4
Other current assets	18.7			17.5
Total current assets	1,734.6			1,646.2
Investments in unconsolidated affiliates	168.1			152.5
Property, plant and equipment, net of accumulated depreciation	635.2			627.0
Other assets
Goodwill	74.2			72.5
Other intangible assets, net	206.9			207.5
Deferred income tax assets	34.7			35.5
Deferred charges and other assets	32.7			30.8
Total other assets	348.5			346.3
Total assets	$	2,886.4		$	2,772.0
Liabilities and shareholders’ equity
Current liabilities
Short-term borrowings and current portion of long-term debt	$	7.0		$	7.0
Accounts payable	454.2			436.8
Income taxes payable	36.9			35.9
Accrued expenses and other current liabilities	135.3			146.9
Total current liabilities	633.4			626.6
Noncurrent liabilities
Long-term debt, net of unamortized deferred financing fees	1,164.0			1,165.0
Deferred income tax liabilities	51.4			49.2
Other noncurrent obligations	281.9			256.4
Total noncurrent liabilities	1,497.3			1,470.6
Commitments and contingencies
Shareholders’ equity
Ordinary shares, $0.01 nominal value, 50,000.0 shares authorized (March 31, 2018: 48.8 shares issued and 43.4 shares outstanding ; December 31, 2017: 48.8 shares issued and 43.4 shares outstanding)	0.5			0.5
Additional paid-in-capital	566.6			578.8
Treasury shares, at cost (March 31, 2018: 5.4 shares; December 31, 2017: 5.4 shares)	(299.5		)	(286.8		)
Retained earnings	632.4			527.9
Accumulated other comprehensive loss	(144.3		)	(145.6		)
Total shareholders’ equity	755.7			674.8
Total liabilities and shareholders’ equity	$	2,886.4		$	2,772.0

TRINSEO S.A.

Condensed Consolidated Statements of Cash Flows

(In millions)

(Unaudited)

	Three Months Ended March 31,
	2018			2017
Cash flows from operating activities
Cash provided by (used in) operating activities	$	40.8		$	(25.7	)
Cash flows from investing activities
Capital expenditures	(30.6		)	(36.0		)
Proceeds from the sale of businesses and other assets	0.5			42.1
Distributions from unconsolidated affiliates	—			0.8
Cash provided by (used in) investing activities	(30.1		)	6.9
Cash flows from financing activities
Short-term borrowings, net	(0.1		)	(0.1		)
Purchase of treasury shares	(23.8		)	(26.6		)
Dividends paid	(16.2		)	(13.3		)
Proceeds from exercise of option awards	1.9			3.4
Withholding taxes paid on restricted share units	(8.0		)	(0.1		)
Repayments of 2024 Term Loan B	(1.8		)	—
Repayments of 2021 Term Loan B	—			(1.3		)
Cash used in financing activities	(48.0		)	(38.0		)
Effect of exchange rates on cash	3.4			1.8
Net change in cash and cash equivalents	(33.9		)	(55.0		)
Cash and cash equivalents—beginning of period	432.8			465.1
Cash and cash equivalents—end of period	$	398.9		$	410.1

TRINSEO S.A.

Notes to Condensed Consolidated Financial Information

(Unaudited)

Note 1: Net sales by Segment

	Three Months Ended
	March 31,		March 31,
(In millions)	2018		2017
Latex Binders	$	255.3	$	288.9
Synthetic Rubber	149.2		163.4
Performance Plastics	402.9		336.9
Polystyrene	239.6		228.4
Feedstocks	74.6		86.9
Americas Styrenics*	—		—
Total Net Sales	$	1,121.6	$	1,104.5

* The results of this segment are comprised entirely of earnings from Americas Styrenics, our 50%-owned equity method investment. As such, we do not separately report net sales of Americas Styrenics within our condensed consolidated statement of operations.

Note 2: Reconciliation of Non-GAAP Performance Measures to Net income

EBITDA is a non-GAAP financial performance measure that we refer to in making operating decisions because we believe it provides our management as well as our investors with meaningful information regarding the Company’s operational performance. We believe the use of EBITDA as a metric assists our board of directors, management and investors in comparing our operating performance on a consistent basis.

We also present Adjusted EBITDA as a non-GAAP financial performance measure, which we define as income from continuing operations before interest expense, net; income tax provision; depreciation and amortization expense; loss on extinguishment of long-term debt; asset impairment charges; gains or losses on the dispositions of businesses and assets; restructuring charges; acquisition related costs and other items. In doing so, we are providing management, investors, and credit rating agencies with an indicator of our ongoing performance and business trends, removing the impact of transactions and events that we would not consider a part of our core operations.

Lastly, we present Adjusted Net Income and Adjusted EPS as additional performance measures. Adjusted Net Income is calculated as Adjusted EBITDA (defined beginning with net income, above), less interest expense, less the provision for income taxes and depreciation and amortization, tax affected for various discrete items, as appropriate. Adjusted EPS is calculated as Adjusted Net Income per weighted average diluted shares outstanding for a given period. We believe that Adjusted Net Income and Adjusted EPS provide transparent and useful information to management, investors, analysts and other stakeholders in evaluating and assessing our operating results from period-to-period after removing the impact of certain transactions and activities that affect comparability and that are not considered part of our core operations.

There are limitations to using the financial performance measures noted above. These performance measures are not intended to represent net income or other measures of financial performance. As such, they should not be used as alternatives to net income as indicators of operating performance. Other companies in our industry may define these performance measures differently than we do. As a result, it may be difficult to use these or similarly-named financial measures that other companies may use, to compare the performance of those companies to our performance. We compensate for these limitations by providing reconciliations of these performance measures to our net income, which is determined in accordance with GAAP.

	Three Months Ended
(In millions, except per share data)	March 31, 2018			March 31, 2017
Net income	$	120.3		$	117.3
Interest expense, net	14.9			18.2
Provision for income taxes	24.9			29.3
Depreciation and amortization	31.9			24.7
EBITDA	$	192.0		$	189.5
Net gain on disposition of businesses and assets (a)	(0.5		)	(9.9		)	Other income, net
Restructuring and other charges (b)	0.5			2.1			Selling, general, and administrative expenses
Acquisition transaction and integration costs (c)	0.3			—			Selling, general, and administrative expenses
Other items (d)	2.7			—			Selling, general, and administrative expenses
Adjusted EBITDA	$	195.0		$	181.7
Adjusted EBITDA to Adjusted Net Income:
Adjusted EBITDA	$	195.0		$	181.7
Interest expense, net	14.9			18.2
Provision for income taxes — Adjusted (e)	26.0			29.5
Depreciation and amortization — Adjusted (f)	31.7			24.2
Adjusted Net Income	$	122.4		$	109.8
Adjusted EPS	$	2.76		$	2.42
Adjusted EBITDA by Segment:
Latex Binders	$	27.5		$	36.8
Synthetic Rubber	25.5			46.3
Performance Plastics	65.5			52.2
Polystyrene	9.6			13.6
Feedstocks	41.5			41.9
Americas Styrenics	45.5			18.5
Corporate unallocated	(20.1		)	(27.6		)
Adjusted EBITDA	$	195.0		$	181.7

(a)Net gain on disposition of businesses and assets during the three months ended March 31, 2017 relates primarily to the sale of our 50% share in Sumika Styron Polycarbonate to Sumitomo Chemical Company Limited, for which the Company recorded a gain on sale of $9.3 million during the period.

(b)Restructuring and other charges for the three months ended March 31, 2018 and 2017 primarily relate to decommissioning, contract termination, and employee termination benefit charges incurred in connection with the upgrade and replacement of the Company’s compounding facility in Terneuzen, The Netherlands as well as the Company’s decision to cease manufacturing activities at our latex binders manufacturing facility in Livorno, Italy.

Note that the accelerated depreciation charges incurred as part of the upgrade and replacement of the Company’s compounding facility in Terneuzen, The Netherlands are included within the “Depreciation and amortization” caption above, and therefore are not included as a separate adjustment within this caption.

(c)Acquisition transaction and integration costs for the three months ended March 31, 2018 relate to advisory and professional fees incurred in conjunction with the Company’s acquisition of API Plastics.

(d)Other items for the three months ended March 31, 2018 relate to advisory and professional fees incurred in conjunction with the Company’s initiative to transition business services from The Dow Chemical Company, including certain administrative services such as accounts payable, logistics, and IT services.

(e)Adjusted to remove the tax impact of the items noted in (a),(b),(c) and (d). The income tax expense (benefit) related to these items was determined utilizing either (1) the estimated annual effective tax rate on our ordinary income based upon our forecasted ordinary income for the full year, or (2) for items treated discretely for tax purposes, we utilized the applicable rates in the taxing jurisdictions in which these adjustments occurred. Additionally, the three months ended March 31, 2018 excludes a $0.5 million tax benefit recognized during the period related to provision to return adjustments.

(f)For the three months ended March 31, 2018 and 2017 the amounts exclude accelerated depreciation of $0.3 and $0.6 million, respectively related to the upgrade and replacement of the Company’s compounding facility in Terneuzen, The Netherlands.

For the same reasons discussed above, we are providing the following reconciliation of forecasted net income to forecasted Adjusted EBITDA and Adjusted EPS for the three months ended June 30, 2018, as well as for the full year ended December 31, 2018.  See “Note on Forward-Looking Statements” above for a discussion of the limitations of these forecasts.

	Three Months Ended			Year Ended
(In millions, except per share data)	June 30, 2018			December 31, 2018
Adjusted EBITDA	$	160 – 170		$	665 – 685
Interest expense, net	(14		)	(57		)
Provision for income taxes	(22) – (24		)	(89) – (92		)
Depreciation and amortization	(31		)	(124		)
Reconciling items to Adjusted EBITDA (h)	—			(3		)
Net Income	93 – 101			392 – 408
Reconciling items to Adjusted Net Income (h)	—			2
Adjusted Net Income	93 – 101			394 – 410
Weighted average shares- diluted (i)	44.4			44.4
EPS - diluted	$	2.10 – 2.28		$	8.82 – 9.19
Adjusted EPS	$	2.10 – 2.28		$	8.87 – 9.24

(h)Reconciling items to Adjusted EBITDA and Adjusted Net Income are not typically forecasted by the Company based on their nature as being primarily driven by transactions that are not part of the core operations of the business. As such, for the forecasted three months ended June 30, 2018 and full year ended December 31, 2018, we have not included estimates for these items.

(i)Weighted average shares calculated for the purpose of forecasting Adjusted EPS do not forecast significant future share transactions or events, such as repurchases, significant stock-based compensation award grants, and changes in the Company’s share price. These are all factors which could have a significant impact on the calculation of Adjusted EPS during actual future periods.

Note 3: Reconciliation of Non-GAAP Liquidity Measures to Cash from Operations

The Company uses Free Cash Flow to evaluate and discuss its liquidity position and results. Free Cash Flow is defined as cash from operating activities, less capital expenditures. We believe that Free Cash Flow provides an indicator of the Company’s ongoing ability to generate cash through core operations, as it excludes the cash impacts of various financing transactions as well as cash flows from business combinations that are not considered organic in nature. We also believe that Free Cash Flow provides management and investors with a useful analytical indicator of our ability to service our indebtedness, pay dividends (when declared), and meet our ongoing cash obligations.

Free Cash Flow is not intended to represent cash flows from operations as defined by GAAP, and therefore, should not be used as an alternative for that measure. Other companies in our industry may define Free Cash Flow differently than we do. As a result, it may be difficult to use this or similarly-named financial measures that other companies may use, to compare the liquidity and cash generation of those companies to our own. The Company compensates for these limitations by providing the reconciliation below, which is determined in accordance with GAAP.

Free Cash Flow

	Three Months Ended
	March 31,			March 31,
(in millions)	2018			2017
Cash provided by (used in) operating activities	$	40.8		$	(25.7	)
Capital expenditures	(30.6		)	(36.0		)
Free Cash Flow	$	10.2		$	(61.7	)

EX-99.2

Exhibit 99.2

First Quarter 2018 Earnings Management Commentary

May 2, 2018

We are pleased to announce that Trinseo achieved record net income, earnings per share, and Adjusted EBITDA in the first quarter of 2018. First quarter net income was $120 million and Adjusted EBITDA was $195 million. Earnings per diluted share was $2.71 and Adjusted EPS was $2.76. These results included $7 million of unfavorable net timing impacts, on a pre-tax basis, and exceeded guidance from the Q4 2017 earnings call due to additional impacts from unplanned styrene monomer outages as well as solid fundamental performance across all segments.

Highlights

·Record consolidated results in the first quarter, exceeding prior guidance.

·Record Adjusted EBITDA in the Americas Styrenics segment.

·We are on track toward achieving the $100 million Adjusted EBITDA growth target across our Latex Binders, Synthetic Rubber, and Performance Plastics segments from 2016 to 2019. This includes growth from Asia and non-coated paper sales in Latex Binders, new SSBR and ABS capacity, as well as the API Plastics acquisition.

·We recently initiated a project to complete the transition of the remaining business services from the Dow Chemical Company. This includes the transition of administrative services such as accounts payable, logistics, and purchasing, and will enable greater enterprise flexibility, allowing us to better control our end-to-end business processes. The project also includes the transition of IT services, including the ownership and maintenance of our ERP system.

Segment Results and Cash Generation

Please recall that effective January 1, 2018, we realigned our reporting segments to reflect the new model under which the business will be managed. Under this new segmentation, we will continue to report operating results for six segments, four of which will remain unchanged from the Company’s previous segmentation: Latex Binders, Synthetic Rubber, Feedstocks, and Americas Styrenics. The results of the Polystyrene business, which was previously included within the results of the Basic Plastics segment, is now reported as a standalone segment. Performance Plastics, which previously consisted of compounds, blends, and ABS products sold to the automotive market, now also includes the remaining portion of the ABS business, as well as the results of the SAN and polycarbonate businesses. This segmentation change will provide enhanced clarity to investors by concentrating the Company’s more specialized plastics into a single reporting segment.  It will also reduce complexity as polycarbonate and ABS are the primary inputs into the downstream production of its compounds and blends. Prior period results have been recast to reflect this new segmentation.

In Latex Binders, we continued to see strong results driven by our diversified chemistries and cost actions, as well as improved market conditions in Asia. First quarter Adjusted EBITDA of $27 million was in line with guidance, and included $4 million of negative net timing impacts.

Synthetic Rubber’s first quarter Adjusted EBITDA was also in line with guidance at $26 million, inclusive of $2 million of favorable net timing impacts. We had record SSBR sales volume in the first quarter, as we began selling our new capacity. However, the first quarter was negatively impacted by lower ESBR sales to Asia.

Performance Plastics started the year with another strong quarter. First quarter Adjusted EBITDA of $66 million was in line with guidance. Sales volumes and margins were strong during the quarter, driven by sales from our new ABS plant in China and continued tightness in the polycarbonate market. In addition, API Plastics continues to perform in line with our expectations, and we continue to work on fully integrating these products into our portfolio and offering a wider array of plastic solutions to customers.

Polystyrene first quarter Adjusted EBITDA was $10 million, and was slightly below guidance due to a $2 million of unfavorable net timing impact. Sales volumes were negatively impacted in the first quarter due to increasing styrene prices, causing customers to delay purchases into the second quarter in anticipation of lower prices.

Feedstocks first quarter Adjusted EBITDA was $42 million including an unfavorable $3 million net timing impact. This result was above our guidance of $35 million as the duration of unplanned outages exceeded our expectations.

Americas Styrenics Adjusted EBITDA of $46 million in the first quarter was a record high and was above guidance, also due to higher than expected styrene margins from unplanned outages.

Cash provided by operating activities for the quarter was $41 million and capital expenditures were $31 million, resulting in Free Cash Flow for the quarter of $10 million. First quarter cash from operations and Free Cash Flow included an impact of approximately $105 million from higher working capital primarily from increasing sales and raw material prices as well as higher inventory levels ahead of second quarter planned maintenance. At the end of the quarter, we had $399 million of cash, which reflected $24 million of share repurchases during the quarter.

The first quarter GAAP effective tax rate of 17.1% was below our prior guidance of 19% due to additional expenses recorded in higher-taxed jurisdictions during the quarter. We still anticipate an effective tax rate of 19% for the remaining quarters and a full-year effective tax rate of 18% to 19%.

Styrene Supply / Demand Outlook

During the last several months, we have conducted an extensive study with the assistance of external consultants in China to look at styrene capacity additions. Based on this study, we estimate that net styrene supply over the period 2017 to 2022 will increase between 2% and 3% per year on average, depending on construction delays and potential asset closures. This compares to our assumption of 2.3% annual styrene demand growth over this same period. We estimate that this would result in global operating rates in the mid to high 80s over this forecast period, consistent with operating rates over the last 3 years.

Guidance

In total for Trinseo we expect second quarter net income of $93 million to $101 million and Adjusted EBITDA of $160 million to $170 million. This outlook assumes minimal impact from net timing.

European styrene monomer margin over raw materials decreased in April from very high March levels as more styrene supply came back online from both planned and unplanned outages, with a similar downward trend expected in May and June. Overall we expect second quarter margins to be, on average, about $75 per ton lower than they were in the first quarter, but at still healthy levels. In addition, we have a planned five-week outage at our styrene unit in Germany which will reduce production, resulting in a quarter-over-quarter unfavorable impact of about $5 million.

For full year 2018, we are increasing guidance for net income to $392 million to $408 million, and for Adjusted EBITDA to $665 million to $685 million. In addition, we are increasing guidance for diluted EPS to $8.82 to $9.19 and Adjusted EPS to $8.87 to $9.24. This outlook assumes the $7 million unfavorable net timing impact from the first quarter, with no additional impact for the balance of the year. In addition, it assumes no additional impact from unplanned styrene outages beyond what we had in the first quarter and what we currently have visibility into for the second quarter. Finally, the outlook also includes approximately $50 million of our targeted $100 million of growth initiatives across Latex Binders, Synthetic Rubber, and Performance Plastics. This $50 million improvement includes $8 million of unfavorable net timing impacts and excludes the impacts of the sale of our 50% share of Sumika Styron Polycarbonate Limited, which contributed $9 million to our 2016 results.  This $50 million improvement also includes significant improvement in our polycarbonate business, which is now reported in the Performance Plastics segment. Please recall that about 40% of the polycarbonate we produce is used in our downstream compounds and blends business.

Use of non-GAAP measures

In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America (“GAAP”), we use additional measures of income excluding certain GAAP items (“non-GAAP measures”), such as Adjusted EBITDA and, Adjusted EPS and measures of liquidity excluding certain GAAP items, such as Free Cash Flow. We believe these measures are useful for investors and management in evaluating business trends and performance each period.  These income measures are also used to manage our business

and assess current period profitability, as well as to provide an appropriate basis to evaluate the effectiveness of our pricing strategies. Such measures are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance or liquidity, as applicable. The definitions of each of these measures, further discussion of usefulness, and reconciliations of non-GAAP measures to GAAP measures are provided in the Form 8-K filing for this commentary in Exhibit 99.1-Press Release, dated May 2, 2018.

Note on Forward-Looking Statements

This commentary may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “target,” “outlook,” “guidance,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this commentary may include, without limitation, forecasts of growth, net sales, business activity, acquisitions, financings and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this commentary. Such factors include, among others: conditions in the global economy and capital markets, volatility in costs or disruption in the supply of the raw materials utilized for our products; loss of market share to other producers of styrene-based chemical products; compliance with environmental, health and safety laws; changes in laws and regulations applicable to our business; our inability to continue technological innovation and successful introduction of new products; system security risk issues that could disrupt our internal operations or information technology services; the loss of customers; the market price of the Company’s ordinary shares prevailing from time to time; the nature of other investment opportunities presented to the Company from time to time; and the Company’s cash flows from operations. Additional risks and uncertainties are set forth in the Company’s reports filed with the United States Securities and Exchange Commission, which are available at http://www.sec.gov/ as well as the Company’s web site at http://www.trinseo.com. As a result of the foregoing considerations, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this commentary. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

EX-99.3

Exhibit 99.3

First Quarter 2018 Financial Results May 2, 2018 ™ Trademark of Trinseo S.A. or its affiliates

Introductions & Disclosure Rules Introductions • • • Chris Pappas, President & CEO Barry Niziolek, Executive Vice President & CFO David Stasse, Vice President, Treasury & Investor Relations Disclosure Rules Cautionary Note on Forward-Looking Statements. This presentation contains forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like “expect,” “anticipate,” “intend,” “forecast,” “outlook,” “will,” “may,” “might,” “potential,” “likely,” “target,” “plan,” “contemplate,” “seek,” “attempt,” “should,” “could,” “would” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to, those discussed in our Annual Report on Form 10-K, under Part I, Item 1A — “Risk Factors” and elsewhere in that report. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this presentation are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. This presentation contains financial measures that are not in accordance with generally accepted accounting principles in the US (“GAAP”) including Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Aggregate Adjusted EBITDA and Free Cash Flow. We believe these measures provide relevant and meaningful information to investors and lenders about the ongoing operating results of the Company. Such measures when referenced herein should not be viewed as an alternative to GAAP measures of performance or liquidity, as applicable. We have provided a reconciliation of these measures to the most comparable GAAP metric alongside of the respective measure or otherwise in the Appendix section of this presentation. 2

Key Points • • Net income of $120 million and Adj EBITDA* of $195 million Results exceeded prior guidance due to higher than expected styrene Q1 2018 Continued Progress Growth Targets on • ~$50MM of Adj EBITDA growth expected from 2016 to 2018 across Latex improvement in polycarbonate and $8MM of negative net timing impacts ABS plant in China, Synthetic Rubber SSBR expansion and pilot plant • Accounts Payable, Purchasing) Build process capability and drive future process improvements Services • • Assumes no impact from net timing and no impact from unplanned styrene Full Year 2018 Outlook • Outlook excludes additional unplanned styrene outages and any net timing * See Appendix for reconciliation of non-GAAP measures. 3 •Net income of $392MM to $408MM, Diluted EPS of $8.82 to $9.19 •Adj EBITDA* of $665MM to $685MM, Adj EPS* of $8.87 to $9.24 impacts beyond the unfavorable net timing impact of $7 million from the first quarter •Net income of $93MM to $101MM, Diluted EPS of $2.10 to $2.28 Q2 2018 Outlook•Adj EBITDA* of $160MM to $170MM, Adj EPS* of $2.10 to $2.28 outages beyond our current visibility for the quarter Transitioning Business•Transition out of remaining Dow-provided business services (e.g. IT, •Includes ownership and maintenance of our ERP system •On track for $100MM Adj EBITDA growth target from 2016 to 2019 Initiatives to meetBinders, Synthetic Rubber, and Performance Plastics; includes onstream – record SSBR sales volume in Q1 2018 Record Profitability in•First quarter record net income, EPS, Adj EBITDA*, and Adj EPS* margins and continued solid performance across all segments

Trinseo Q1 2018 Financial Results Adjusted EBITDA* ($MM) Net Sales & Net Income ($MM) EPS ($) Q1'18 Q1'17 Q1'18 Q1'17 $1,122 $1,104 $2.76 $195 $182 Net Sales Net Income Diluted EPS Adj EPS* Q1'18 Q1'17 (5%) (5%) 10% 1% 2% * See Appendix for reconciliation of non-GAAP measures. 4 •Record profitability in the quarter with solid fundamentals •Net income and Adjusted EBITDA* included an unfavorable net timing impact of about $7 million on a pre-tax basis •Cash from operations of $41 million and Free Cash Flow* of $10 million impacted by a $105 million working capital build due to rising styrene and butadiene prices and ahead of Q2 maintenance; $24 million of share repurchases during the quarter Vol Price FX Portfolio Total $2.71 $2.42 $2.59 $120$117

Latex Binders Net Sales ($MM) Adjusted EBITDA ($MM) Volume (MM Lbs) $37 301 $289 Q1'18 Q1'17 Q1'18 Q1'17 Q1'18 Q1'17 (9%) (9%) 6% 0% (12%) 5 •Lower volume versus prior year due to market declines in Europe and North America carpet and coated paper •Adjusted EBITDA decline year due to lower sales volume as well as prior year raw material dynamics; expected runrate ~$30MM / quarter Vol Price FX Portfolio Total $255 274 $27

Synthetic Rubber Net Sales ($MM) Adjusted EBITDA ($MM) Volume (MM Lbs) $46 179 $163 Q1'18 Q1'17 Q1'18 Q1'17 Q1'18 Q1'17 (6%) (15%) 13% (9%) 6 •Lower Adjusted EBITDA versus prior year due to favorable prior year net timing and butadiene arbitrage impacts •Record SSBR volume in Q1 as we ramp up new capacity; lower YoY sales volume driven by ESBR Vol Price FX Total $149 164 $26

Performance Plastics Net Sales ($MM) Adjusted EBITDA ($MM) $66 Volume (MM Lbs) 351 344 $403 Q1'18 Q1'17 Q1'18 Q1'17 Q1'18 Q1'17 (0%) 3% 12% 4% 20% 7 •Net sales increase vs prior year driven by higher polycarbonate pricing and the pass through of higher raw material costs •Adjusted EBITDA increase due to higher polycarbonate margins from favorable supply / demand dynamics Vol Price FX Portfolio Total $337 $52

Polystyrene Net Sales ($MM) $240 Adjusted EBITDA ($MM) Volume (MM Lbs) $14 311 308 Q1'18 Q1'17 Q1'18 Q1'17 Q1'18 Q1'17 (1%) (4%) 10% 5% 8 •Net sales increase vs prior year due mainly to favorable currency impacts •Adjusted EBITDA lower than prior year due primarily to favorable net timing in the prior year, which was partially offset by higher raw material costs Vol Price FX Total $10 $228

Feedstocks & Americas Styrenics Adjusted EBITDA ($MM) Adjusted EBITDA ($MM) $46 $42 $42 Q1'18 Q1'17 Q1'18 Q1'17 maintenance outage and higher 9 •Record Adjusted EBITDA in Q1 2018 •YoY increase due to prior year margins •Dividends: $30 million in Q1 2018 •Higher production volumes in current year due to prior year 6-week planned outage; offset by favorable prior year raw material timing $18 AMERICAS STYRENICS FEEDSTOCKS

$152 $137 $241 $294 $237 $322 $189 $206 $202 $231 $322 $262 $292 $256 $202 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Styrene Margin - USD/MT Prices – USD/MT $482 $233 $319 $413 $428 $639 $476 $292 $306 $380 $612 $683 $555 $471 $426 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Styrene Margin - USD/MT Prices – USD/MT Western Europe and Asia Styrene Margin Trends 10 Western Europe Margin (1) Asia Margin (2) Q1 to Q2 ~($75/MT) Trinseo’s Feedstocks reporting segment captures styrene monomer margin through both internally produced and cost-based purchases of styrene. In 2018, we estimate that we will produce approximately 700 kilotons of styrene in Western Europe and purchase approximately 185 kilotons of styrene in Asia with cost-based economics. With all other inputs remaining equal, a $50 per metric ton change in styrene margins would be expected to impact the Feedstocks reporting segment’s annual Adjusted EBITDA by approximately $35 million in Europe and approximately $9 million in Asia. Other factors that could impact the Feedstocks segment Adjusted EBITDA include, but are not limited to, utilities, freight, manufacturing costs, overhead costs, production outages, currency, discounts of styrene, benzene, and ethylene, as well as raw material timing. SOURCE: Western Europe Styrene, Benzene, Ethylene Prices: ICIS. Asia Styrene, Benzene, Ethylene prices: IHS. Styrene margin over raw materials: Trinseo. (1) Styrene: W. Europe Contract Monthly Market (Delivered W. Europe); Benzene: 50% W. Europe Spot Avg (CIF NW Europe / Basis ARA) and 50% W. Europe Contract – Market (FOB/CIF W. Europe); Ethylene: W. Europe Contract – Market Pipeline (Delivered W. Europe). (2) Styrene: NE Asia Avg Spot Posting (CFR China); Benzene: NE Asia Spot Avg (FOB S. Korea); Ethylene: NE Asia Spot Avg (CFR NE Asia). Styrene margin over raw materials: Styrene less (80% * Benzene) less (30% * Ethylene). Styrene Ethylene Benzene SM Margin over Raw Materials Styrene Ethylene Benzene SM Margin over Raw Materials Q1 to Q2 ~($25/MT)

Styrene Supply/Demand Outlook Projected Styrene Capacity Additions (kT) Global Styrene Supply / Demand Outlook 86% to 91% 85% to 89% +2,005 84% to 100% 89% Growth +668 +555 00 0% 2015 2016 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 Supply Op Rate - Base Demand Op Rate incl Closures/Delay (1) • • 2018 global supply of ~34,000 kilotons Supply outlook accounts for expected supply additions with no anticipated closures; demand outlook assumes 2.3% CAGR from 2017 to 2022 Increasing operating rates through 2019 2020 through 2022 operating rates consistent with levels of last several years • • (1) Assumes 500 kilotons of capacity closures in each of 2020, 2021, and 2022 as well as a 6-month delay in plants assumed to come onstream in 2020 through 2022 SOURCE: Trinseo 11 Supply / Demand (kT) Operating Rate Projected operating rates from 2019 to 2022 are expected to be in the mid to high 80s, similar to levels from 2015 to 2018 84%86%87%88%87% Demand +1,585 +6 +332

Q2 and Full Year 2018 Outlook Q2 Adj EBITDA* ($MM) FY Adj EBITDA* Assumptions ~$25 ~$105 YoY growth driven by SSBR capacity expansion and • $55 - $60 ~$255 draw) ~$45 ~$12 prices ~$25 ~$100 planned and unplanned outages $35 - $40 but still strong performance ~$145 ~($23) ~($95) Cash Paid for Interest of ~$50 million, Cash Paid for • Net Income Adjusted EBITDA* EPS Adj EPS* * See Appendix for reconciliation of non-GAAP measures $93 - $101 $160 - $170 $2.10 - $2.28 $2.10 - $2.28 $392 - $408 $665 - $685 $8.82 - $9.19 $8.87 - $9.24 12 • Effective tax rate of ~19% Income Taxes of ~$90 million, CapEx of ~$150 million Corporate • Lower Q2 margins as more styrene supply is available, • Includes known unplanned outage impacts Americas Styrenics • Q2 sequentially lower as styrene supply returns after • Includes known unplanned outage impacts Feedstocks • Stronger Q2 after Q1 destocking from higher styrene • Full year performance roughly flat YoY Polystyrene • Planned maintenance driving lower Q2 (inventory • Full year growth driven by ABS capacity, API Plastics Performance Plastics • Strong SSBR volume continues into Q2 new products Synthetic Rubber ~$30~$120• Continued steady performance Latex Binders

$100 Million Growth 2016 to 2018 Progress Aggregate Adjusted EBITDA1 ($MM) Target $52MM Growth +$32 ($9) 2016 SSPC Divestiture Latex Binders Synthetic Rubber Perf Plastics ex SSPC 2018 • $100 million growth target - growth across the Latex Binders, Synthetic Rubber, and Performance Plastics segments from 2016 to 2019 2016 to 2018 Aggregate Adjusted EBITDA increase of $52 million • • • Excludes impact from SSPC divestiture Includes $8 million of unfavorable net timing impacts • Includes significant improvement from our polycarbonate business (which is now reported in our Performance Plastics segment) Aggregate Adj EBITDA ($MM) 2016 94 111 232 2018 120 105 255 Latex Binders Adj EBITDA Synthetic Rubber Adj EBITDA Performance Plastics Adj EBITDA Aggregate Adj EBITDA 1) Aggregate Adjusted EBITDA is a non-GAAP financial performance measure, which we define as the sum of the segment Adjusted EBITDA for each of our Latex Binders, Synthetic Rubber, and Performance Plastics segments. We are providing management and investors with this performance measure as an indicator of the Company’s performance in reaching its growth target across these segments. For the reconciliation of this non-GAAP measure see the table on this slide 13. 437 480 13 +$26 $480 $437 ($6)

2018 Cash Generation $MM Net Income Guidance Midpoint 400 Adj EBITDA Guidance Midpoint Cash Paid for Income Taxes Cash Paid for Interest Business Services Transition Working Capital 675 (90) (50) (25) (30) • $30MM of structural working capital build from growth projects Assumes no other changes in working capital from raw material price changes, etc. • Cash from Operations CapEx 480 (150) Free Cash Flow 330 14

Appendix ™ Trademark of Trinseo S.A. or its affiliates

US GAAP to Non-GAAP Reconciliation 16 NOTE: For definitions of non-GAAP measures as well as descriptions of reconciling items from Net Income to Adjusted EBITDA and to Adjusted Net Income, refer to the accompanying Exhibit 99.1 – Press Release, May 2, 2018. Totals may not sum due to rounding. Profitability Outlook

US GAAP to Non-GAAP Reconciliation (in $millions, unless noted) Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 2015 2016 2017 Net Income (Loss) Interest expense, net Provision for (benefit from) income taxes Depreciation and amortization EBITDA 37.7 28.9 17.9 22.5 0.8 25.6 7.5 21.7 52.1 19.5 21.2 23.0 43.1 19.3 23.6 29.5 76.7 18.9 21.9 23.2 95.8 18.8 28.6 24.9 67.3 18.8 16.0 23.8 78.5 18.4 20.5 24.7 117.3 18.2 29.3 24.7 60.2 18.7 18.8 26.3 33.2 18.4 8.3 29.2 117.7 14.8 26.4 30.3 120.3 14.9 24.9 31.9 133.6 93.2 70.2 96.8 318.3 75.0 87.0 96.4 328.3 70.1 82.8 110.6 107.0 55.6 115.8 115.5 140.7 168.1 125.9 142.1 189.5 124.0 89.1 189.2 192.0 393.8 576.7 591.8 Loss on extinguishment of long-term debt Other items Restructuring and other charges Net (gains) / losses on dispositions of businesses and assets Acquisition transaction and integration costs Asset impairment charges or write-offs Adjusted EBITDA - 1.3 0.5 - - - 95.2 0.6 (0.1) - - - - 0.3 0.1 - - - - - 0.2 - - - - 1.8 0.7 - - - - 0.3 1.1 12.9 - - - 0.3 16.8 0.3 - - - (6.8) 4.9 1.8 - - - - 2.1 (9.9) - - - - 1.1 - 1.1 - 65.3 1.6 1.5 0.2 3.8 4.3 - (21.6) 1.2 - (0.1) - - 2.7 0.5 (0.5) 0.3 - 95.2 2.2 0.8 - - - - (4.4) 23.5 15.1 - - 65.3 (19.9) 6.0 (9.7) 4.7 4.3 108.8 151.3 116.2 115.7 143.2 182.4 143.3 142.0 181.7 126.2 165.8 168.7 195.0 492.0 610.9 642.5 Adjusted EBITDA to Adjusted Net Income Adjusted EBITDA Interest expense, net Provision for (benefit from) income taxes - Adjusted Depreciation and amortization - Adjusted Adjusted Net Income Wtd Avg Shares - Diluted (000) Adjusted EPS - Diluted ($) 108.8 28.9 18.3 22.3 151.3 25.6 25.5 21.6 116.2 19.5 22.3 22.1 115.7 19.3 18.7 23.4 143.2 18.9 22.4 22.6 182.4 18.8 28.8 24.9 143.3 18.8 21.4 23.3 142.0 18.4 22.0 24.7 181.7 18.2 29.5 24.2 126.2 18.7 19.2 25.8 165.8 18.4 21.0 28.6 168.7 14.8 28.4 30.0 195.0 14.9 26.0 31.7 492.0 93.2 84.9 89.3 610.9 75.0 94.6 95.4 642.5 70.1 98.2 108.6 39.3 48,851 0.80 78.6 48,907 1.61 52.3 48,989 1.07 54.3 49,067 1.11 79.3 49,086 1.62 109.9 47,857 2.30 79.8 46,961 1.70 76.9 45,754 1.68 109.8 45,313 2.42 62.5 44,995 1.39 97.8 44,782 2.18 95.5 44,734 2.14 122.4 44,430 2.76 224.6 48,970 4.59 345.9 47,478 7.28 365.6 44,973 8.13 Adjustments b y Statement of Operations Caption Loss on extinguishment of long-term debt Cost of sales Selling, general and administrative expenses Other expense (income), net Total EBITDA Adjustments - - 1.8 - 95.2 - 0.5 - - - 0.4 - - - 0.2 - - - 2.5 - - - 1.4 12.9 - - 17.1 0.3 - - 4.9 (5.0) - - 2.1 (9.9) - - 2.2 - 65.3 2.4 7.6 1.4 - (18.4) (2.1) - - - 3.5 (0.5) 95.2 - 3.0 - - - 25.9 8.3 65.3 (16.0) 9.9 (8.5) 1.8 95.7 0.4 0.2 2.5 14.3 17.4 (0.1) (7.8) 2.2 76.7 (20.5) 3.0 98.2 34.2 50.7 Free Cash Flow Reconciliation Cash provided by operating activities Capital expenditures Free Cash Flow 84.9 (26.4) 94.8 (26.7) 145.0 (29.5) 79.0 (41.2) (25.7) (36.0) 62.3 (38.2) 158.3 (34.6) 196.5 (38.5) 40.8 (30.6) 421.9 (109.3) 403.7 (123.9) 391.3 (147.4) 58.4 68.1 115.5 37.8 (61.7) 24.1 123.7 158.0 10.2 312.6 279.8 243.9 NOTE: Totals may not sum due to rounding. 17

Selected Segment Information (in $millions, unless noted) Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 2015 2016 2017 Latex Binders Synthetic Rubber Performance Plastics Polystyrene Feedstocks Trade Volume (MMLbs) 305 162 338 397 209 312 153 335 373 151 307 152 314 324 231 308 134 297 374 165 299 146 335 377 194 310 148 342 352 195 318 150 314 335 207 309 159 302 341 163 301 179 344 311 168 287 158 325 345 238 298 137 337 351 206 276 144 339 342 224 274 164 351 308 143 1,233 601 1,283 1,467 755 1,236 604 1,293 1,404 759 1,161 617 1,345 1,349 836 1,411 1,323 1,327 1,277 1,352 1,347 1,324 1,273 1,302 1,352 1,329 1,325 1,241 5,339 5,296 5,308 Latex Binders Synthetic Rubber Performance Plastics Polystyrene Feedstocks Net Sales 238 129 339 233 78 248 115 334 262 69 255 126 322 223 103 226 104 297 211 60 209 102 304 208 71 232 111 326 221 79 243 113 301 198 81 241 124 287 201 64 289 163 337 228 87 292 174 339 233 107 266 119 362 238 111 250 127 381 241 103 255 149 403 240 75 966 475 1,292 929 310 925 451 1,218 828 294 1,097 583 1,419 941 408 1,018 1,029 1,028 897 894 970 935 917 1,104 1,145 1,097 1,102 1,122 3,972 3,717 4,448 Latex Binders Synthetic Rubber Performance Plastics Polystyrene Feedstocks Americas Styrenics Corporate Adjusted EBITDA 21 26 34 11 5 35 (23) 15 18 44 24 35 41 (25) 24 27 42 3 7 32 (21) 18 21 50 17 3 27 (20) 19 23 59 14 21 33 (25) 21 30 66 15 33 38 (21) 30 28 53 11 13 34 (26) 24 29 53 12 14 31 (22) 37 46 52 14 42 18 (27) 36 28 48 7 (1) 30 (22) 32 (6) 62 9 46 44 (22) 33 15 68 19 24 31 (21) 27 26 66 10 42 46 (20) 79 93 169 54 51 135 (90) 94 111 232 52 80 136 (95) 139 83 231 48 111 123 (92) 109 151 116 116 143 182 143 142 182 126 166 169 195 492 611 642 Adj EBITDA Variance Analysis Net Timing* Impacts - Fav/(Unfav) Latex Binders Synthetic Rubber Performance Plastics Polystyrene Feedstocks Net Timing* Impacts - Fav/(Unfav) 6 (6) 6 (7) (8) (5) 1 2 9 12 0 1 (4) (7) (13) 2 (1) 1 1 (3) (0) (4) 3 (1) (2) (4) 3 (3) 1 4 2 1 (1) 1 1 2 6 1 1 4 (8) 16 (2) 4 11 1 (4) (3) (5) (11) (5) (25) 1 1 4 4 0 2 3 7 (4) 2 (0) (2) (3) 4 (5) 5 (5) (13) (0) 6 0 2 7 (8) (13) (2) 3 11 (9) 19 (24) (0) (4) 0 5 14 22 (23) (24) 15 (7) (14) 15 (9) *Net Timing is the difference between Raw Material Timing and Price Lag. Raw Material Timing represents the timing of raw material cost changes flowing through cost of goods sold versus current pricing. Price Lag represents the difference in revenue between the current contractual price and the current period price. NOTE: Totals may not sum due to rounding. 18