Exhibit 99.2

Quaker Houghton Second Quarter 2022 Results Investor Conference Call

Regulation G The attached charts include Company information that does not conform to generally accepted accounting principles (“GAAP”). Man agement believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operating results of the Company and helps investors to evaluate the fina nci al results of the Company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these measures may not be consistent with similar measures provide d b y other companies. This data should be read in conjunction with the second quarter earnings news release, dated August 4, 2022, which has been furnished to the Securities and Exchange Commissio n ( “SEC”) on Form 8 - K. Forward - Looking Statements This presentation contains "forward - looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amen ded, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the fact that they do not relate strictly to historical or current facts. We have base d t hese forward - looking statements, including statements regarding the potential effects of the COVID - 19 pandemic, the Russia and Ukraine conflict, inflation and global supply chain constraints on the Company’ s business, results of operations, and financial condition, our expectations that we will maintain sufficient liquidity and remain in compliance with the terms of the Company’s credit facility, expectat ion s about future demand and raw material costs, and statements regarding the impact of increased raw material costs and pricing initiatives, on our current expectations about future events. These forwa rd - looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, intentions, financial condition, results of operations, future performance, a nd business, including but not limited to the potential benefits of the Combination and other acquisitions, the impacts on our business as a result of the COVID - 19 pandemic and global supply chain constraints, and ou r current and future results and plans and statements that include the words "may," "could," "should," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan" or similar expressions. T hes e forward - looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such statements. A major risk is that demand for the Compa ny' s products and services is largely derived from the demand for its customers' products, which subjects the Company to uncertainties related to downturns in a customer's business and unanticipated custome r p roduction slowdowns and shutdowns, including as is currently being experienced by many automotive industry companies as a result of supply chain disruptions. Other major risks and uncertainti es include, but are not limited to, the primary and secondary impacts of the COVID - 19 pandemic, including actions taken in response to the pandemic by various governments, which could exacerbate some or al l of the other risks and uncertainties faced by the Company, as well as inflationary pressures, including the potential for significant increases in raw material costs, supply chain disruptions, cu sto mer financial instability, rising interest rates and the potential of economic recession, worldwide economic and political disruptions including the impacts of the military conflict between Russia and Ukr ain e, the economic and other sanctions imposed by other nations on Russia, suspensions of activities in Russia by many multinational companies and the potential expansion of military activity, foreign cu rrency fluctuations, significant changes in applicable tax rates and regulations, future terrorist attacks and other acts of violence. Furthermore, the Company is subject to the same business cycles as thos e e xperienced by our customers in the steel, automobile, aircraft, industrial equipment, and durable goods industries. The ultimate impact of COVID - 19 on our business will depend on, among other things, th e extent and duration of the pandemic, the severity of the disease and the number of people infected with the virus including new variants, the continued uncertainty regarding global availability, adm ini stration, acceptance and long - term efficacy of vaccines, or other treatments for COVID - 19 or its variants, the longer - term effects on the economy of the pandemic, including the resulting market volatility, and by the measures taken by governmental authorities and other third parties restricting day - to - day life and business operations and the length of time that such measures remain in place, as well as laws a nd other governmental programs implemented to address the pandemic or assist impacted businesses, such as fiscal stimulus and other legislation designed to deliver monetary aid and other relief. Ot her factors could also adversely affect us, including those related to the Combination and other acquisitions and the integration of acquired businesses. Our forward - looking statements are subject to ri sks, uncertainties and assumptions about the Company and its operations that are subject to change based on various important factors, some of which are beyond our control. These risks, uncertaint ies , and possible inaccurate assumptions relevant to our business could cause our actual results to differ materially from expected and historical results. All forward - looking statements included in this p resentation, including expectations about business conditions during 2022 and future periods, are based upon information available to the Company as of the date of this presentation, which may change. T her efore, we caution you not to place undue reliance on our forward - looking statements. For more information regarding these risks and uncertainties as well as certain additional risks that we face, r efe r to the Risk Factors section, which appears in Item 1A of our Annual Report on Form 10 - K for the year ended December 31, 2021 and in subsequent reports filed from time to time with the Securities and Exchang e Commission. We do not intend to, and we disclaim any duty or obligation to, update or revise any forward - looking statements to reflect new information or future events or for any other reas on. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995. ©2020 Quaker Houghton. All Rights Reserved 2 Forward - Looking Statements

The information included in this presentation includes non - GAAP (unaudited) financial information that includes EBITDA, adjusted EBITDA, adjusted EBITDA margin, non - GAAP operating income, non - GAAP operating margin, non - GAAP net income, non - GAAP earnings per diluted share, and pro forma net sales, net income attributable to Quaker Hou ghton, EBITDA, adjusted EBITDA, and adjusted EBITDA margin. The Company believes these non - GAAP financial measures provide meaningful supplemental information as they enhance a reader’s understanding of the financial performance of the Company, are indicative of future operating performance of the Company, and facilitate a comparison among fiscal periods, as the non - GAAP financial measures exclude items t hat are not indicative of future operating performance or not considered core to the Company’s operations. Non - GAAP results and pro forma information are presented for supplemental informational purposes only and should not be considered a substitute for the financial information presented in accordance with GAAP. The Company presents EBITDA which is calculated as net income attributable to the Company before depreciation and amortizatio n, interest expense, net, and taxes on income before equity in net (loss) income of associated companies. The Company also presents adjusted EBITDA which is calculated as EBITDA plus or minus certain items th at are not indicative of future operating performance or not considered core to the Company’s operations. In addition, the Company presents non - GAAP operating income which is calculated as operating income plus or minus certain items that are not indicative of future operating performance or not considered core to the Company’s operations. Adjusted EBITDA margin and non - GAAP operating margin are calculated as the percent age of adjusted EBITDA and non - GAAP operating income to consolidated net sales, respectively. The Company believes these non - GAAP measures provide transparent and useful information and are widely use d by investors, analysts, and peers in our industry as well as by management in assessing the operating performance of the Company on a consistent basis. Additionally, the Company presents non - GAAP net income and non - GAAP earnings per diluted share as additional performance measure s. Non - GAAP net income is calculated as adjusted EBITDA, defined above, less depreciation and amortization, interest expense, net, and taxes on income before equity in net (loss) income of associated co mpa nies, in each case adjusted, as applicable, for any depreciation, amortization, interest or tax impacts resulting from the non - core items identified in the reconciliation of net income attributable to the Company to adju sted EBITDA. Non - GAAP earnings per diluted share is calculated as non - GAAP net income per diluted share as accounted for under the “two - class share method.” The Company believes that non - GAAP net income and non - GA AP earnings per diluted share provide transparent and useful information and are widely used by investors, analysts, and peers in our industry as well as by management in assessing the operating performance of the Company on a consistent basis. In addition, the Company has provided certain unaudited pro forma financial information in this presentation. The unaudited pro forma financial information is based on the historical consolidated financial statements and results of both Quaker and Houghton and has been prepared to illustrate the effects of the Combination. The unaudited pro fo rma financial information has been presented for informational purposes only and is not necessarily indicative of Quaker Houghton’s past results of operations, nor is it indicative of the future operating results of Quaker Houghton and should not be considered a substitute for the financial information presented in accordance with GAAP. The Company has not provided pro forma financial information as it relates to the acquire d o perating divisions of Norman Hay plc or for any of its other acquisitions based on materiality. Pro forma results for the year ended December 31, 2019 include five months of Houghton’s operations post - closing o f the Combination, while Houghton reflects seven months of results for the period from January 1, 2019 through July 31, 2019. Pro forma results for the years ended December 31, 2018, 2017 and 2016, respectively, in clude Quaker’s historical results, while Houghton reflects its stand - alone results. As it relates to 2022 projected adjusted EBITDA growth for the Company, the Company has not provided guidance for comparable GAA P measures or a quantitative reconciliation of forward - looking non - GAAP financial measures to the most directly comparable U.S. GAAP measure because it is unable to determine with reasonable certainty the ul tim ate outcome of certain significant items necessary to calculate such measures without unreasonable effort. These items include, but are not limited to, certain non - recurring or non - core items the Company may recor d that could materially impact net income, as well as the impact of COVID - 19. These items are uncertain, depend on various factors, and could have a material impact on the U.S. GAAP reported results for the guidance pe riod. The following charts should be read in conjunction with the Company’s second quarter earnings news release dated August 4, 20 22, which has been furnished to the Securities and Exchange Commission on Form 8 - K, the Company’s Annual Report for the year ended December 31, 2021, and the Company’s 10 - Q for the period ended June 30, 2022. Th ese documents may contain additional explanatory language and information regarding certain of the items included in the following reconciliations. ©2020 Quaker Houghton. All Rights Reserved 3 Non - GAAP and Pro Forma Measures

Andy Tometich Chief Executive Officer & President Shane W. Hostetter Senior Vice President, Chief Financial Officer Robert T. Traub Senior Vice President, General Counsel & Corporate Secretary David A. Will Vice President & Chief Accounting Officer Jeffrey Schnell Senior Director, Investor Relations ©2020 Quaker Houghton. All Rights Reserved 4 Speakers

©2020 Quaker Houghton. All Rights Reserved 5 Highlights » Delivered Q2’22 results in line with expectations ▪ Strong sales growth driven by double - digit price increases ▪ Delivered stable gross margins compared to Q1’22 despite persistent cost inflation ▪ Demand remained resilient despite macro headwinds ▪ Continued net new business wins led to another quarter of above market volume growth » Executing on items within our control despite increased macro uncertainty ▪ Advancing our strategic pricing initiatives to offset the inflationary pressures ▪ Focused on delivering on our growth potential; managing our cost structure and improving our margins ▪ Actively working to improve working capital management and enhance our free cash flow generation » Well - positioned to deliver shareholder value ▪ Deeper deployment of our customer intimate model and investing in our strategic initiatives ▪ Disciplined capital allocation strategy includes organic investments, debt reduction, M&A, and shareholder returns ▪ Healthy balance sheet and ample liquidity provides increased flexibility

©2020 Quaker Houghton. All Rights Reserved 6 Financial Snapshot (dollars in millions, per share amounts) Q2 2022 Q2 2021 Q1 2022 FY 2022 FY 2021 GAAP Net sales $ 492.4 $ 435.3 $ 57.1 13% $ 474.2 $ 18.2 4% $ 966.6 $ 865.0 $ 101.5 12% Gross profit 149.6 154.5 (4.9) (3%) 146.1 3.5 2% 295.6 310.6 (15.0) -5% Gross margin (%) 30.4% 35.5% (5.1%) (14%) 30.8% (0.4%) (1%) 30.6% 35.9% -5.3% -15% Operating income 31.9 38.8 (6.9) (18%) 29.4 2.5 9% 61.3 83.7 (22.4) -27% Net income 14.3 33.6 (19.2) (57%) 19.8 (5.5) (28%) 34.2 72.2 (38.0) -53% Earnings per diluted share 0.80 1.88 (1.08) (57%) 1.11 (0.31) (28%) 1.91 4.03 (2.12) -53% Non-GAAP Non-GAAP operating income $ 38.8 $ 46.4 $ (7.6) (16%) $ 39.2 $ (0.4) (1%) $ 78.0 $ 100.1 $ (22.1) -22% Non-GAAP operating margin (%) 7.9% 10.7% (2.8%) (26%) 8.3% (0.4%) (5%) 8.1% 11.6% -3.5% -30% Adjusted EBITDA 58.5 70.1 (11.6) (17%) 60.4 (2.0) (3%) 118.9 147.2 (28.3) -19% Adjusted EBITDA margin (%) 11.9% 16.1% (4.2%) (26%) 12.7% (0.9%) (7%) 12.3% 17.0% -4.7% -28% Non-GAAP earnings per diluted share 1.32 1.82 (0.50) (28%) 1.42 (0.10) (7%) 2.74 3.93 (1.19) -30% Variance (1) Variance (1) Variance (1) (1) Certain amounts may not calculate due to rounding

Modestly lower volumes in Q2’22 compared to Q2’21 primarily reflect previously divested business related to the Combination, COVID - 19 disruptions in China, and the impact of geopolitical events, especially in Europe, partially offset by net new business wins Total Company Volume Trend (k ilograms, in thousands ) 7 ©2020 Quaker Houghton. All Rights Reserved 60,000 80,000 100,000 120,000 140,000 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22

©2020 Quaker Houghton. All Rights Reserved 8 Adjusted EBITDA (dollars in millions) Strong price realization and cost management in Q2’22 was primarily offset by significant and persistent inflationary pressur es impacting gross margins and the unfavorable impact of F/X (1) Periods presented prior to the Combination, on August 1, 2019, are pro forma results $215 $221 $236 $234 $222 $274 $246 2016 2017 2018 2019 2020 2021 TTM Q2 2022 (1) (1) $70 $58 Q2 2021 Q2 2022 (1) (1)

▪ Total debt of $989 million and cash of $202 million resulted in net debt of $787 million ▪ Leverage of 3.2x as of June 30, 2022 1 ▪ Increase is primarily attributable to the comparison to a strong 1H’21 which generated a higher adjusted EBITDA ▪ Operating well within bank covenants ▪ Bank leverage of 3.0x as of June 30, 2022 2 ▪ Maximum permitted leverage of 4.0x 2 ▪ Successfully completed an amendment to our credit facility in Q2’22 ▪ Extended maturities to June 2027 from August 2024 with attractive terms ▪ Cost of debt on credit facility at the end of Q2’22 was ~2.8% Leverage and Liquidity Update 9 ©2020 Quaker Houghton. All Rights Reserved 1 leverage ratio defined as net debt divided by trailing twelve month adjusted EBITDA 2 Defined as net debt divided by trailing twelve month adjusted EBITDA, as calculated under the terms of the credit agreement 3.5x 3.4x 3.7x 3.4x 3.2x 3.1x 2.7x 2.7x 3.0x 3.2x $811 $799 $741 $717 $750 $759 $759 $736 $765 $787 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Net Debt and Leverage Ratio (dollars in millions)

Appendix Actual and Non - GAAP Results

©2020 Quaker Houghton. All Rights Reserved 11 Non - GAAP Operating Income Reconciliation (dollars in thousands, unless otherwise noted) Q2 2022 Q2 2021 FY 2022 FY 2021 Operating income 31,903$ 38,816$ 61,306$ 83,710$ Combination, restructuring and other acquisition-related expenses 1,831 7,082 6,704 15,288 Strategic planning and transformation expenses 3,112 - 6,200 - Executive transition costs 645 308 1,184 812 Russia-Ukraine conflict related expenses 929 - 2,095 - Other charges 385 242 476 293 Non-GAAP operating income 38,805$ 46,448$ 77,965$ 100,103$ Non-GAAP operating margin (%) 7.9% 10.7% 8.1% 11.6%

©2020 Quaker Houghton. All Rights Reserved 12 Adjusted EBITDA & Non - GAAP Net Income Reconciliation (dollars in thousands, unless otherwise noted) Q2 2022 Q2 2021 FY 2022 FY 2021 Net income attributable to Quaker Chemical Corporation 14,343$ 33,570$ 34,159$ 72,185$ Depreciation and amortization 20,856 22,344 41,583 44,792 Interest expense, net 6,494 5,618 11,839 11,088 Taxes on income before equity in net (loss) income of associated companies EBITDA 43,067$ 76,750$ 91,821$ 153,972$ Equity loss (income) in a captive insurance company 1,781 (883) 2,025 (3,963) Combination, restructuring and other acquisition-related expenses 2,248 6,956 9,100 9,359 Strategic planning and transformation expenses 3,112 - 6,200 - Executive transition costs 645 308 1,184 812 Russia-Ukraine conflict related expenses 929 - 2,095 - Brazilian non-income tax credits - (13,293) - (13,293) Loss on extinguishment of debt 6,763 - 6,763 - Other charges (54) 219 (253) 318 Adjusted EBITDA 58,491$ 70,057$ 118,935$ 147,205$ Adjusted EBITDA Margin (%) 11.9% 16.1% 12.3% 17.0% Adjusted EBITDA 58,491$ 70,057$ 118,935$ 147,205$ Less: Depreciation and amortization - adjusted 20,856 22,218 41,583 44,251 Less: Interest expense, net 6,494 5,618 11,839 11,088 Less: Taxes on income before equity in net income of associated companies - adjusted Non-GAAP Net Income 23,675$ 32,448$ 49,145$ 70,354$ 21,512 7,466 9,773 16,368 25,907 4,240 15,218 1,374

©2020 Quaker Houghton. All Rights Reserved 13 Adjusted EBITDA Reconciliation (dollars in thousands) FY 2020 FY 2021 Net income attributable to Quaker Chemical Corporation 39,658$ 121,369$ Depreciation and amortization 84,494 87,728 Interest expense, net 26,603 22,326 Taxes on income before equity in net income of associated companies EBITDA 145,459$ 266,362$ Equity loss (income) in a captive insurance company (1,151) (4,993) Combination, restructuring and other acquisition-related expenses 35,305 20,151 Executive transition costs - 2,986 Indefinite-lived intangible asset impairment 38,000 - Facility remediation costs, net - 2,066 Brazilian non-income tax credits - (13,087) Pension and postretirement benefit costs (income), non-service components Gain on changes in insurance settlement restrictions of an inactive subsidiary and related insurance insolvency recovery Other charges 913 564 Adjusted EBITDA 221,974$ 274,109$ Adjusted EBITDA Margin (%) 15.7% 15.6% 21,592 (759) (5,296) 34,939 (18,144) 819

©2020 Quaker Houghton. All Rights Reserved 14 Adjusted EBITDA Reconciliation Trailing Twelve Months Q2 2022 (dollars in thousands) A B C = B - A D E = C + D YTD Q2 2021 Full Year 2021 Last six Months 2021 YTD Q2 2022 TTM Q2 2022 Net income attributable to Quaker Chemical Corporation 72,185$ 121,369$ 49,184$ 34,159$ 83,343$ Depreciation and amortization 44,792 87,728 42,936 41,583 84,519 Interest expense, net 11,088 22,326 11,238 11,839 23,077 Taxes on income before equity in net income of associated companies EBITDA 153,972$ 266,362$ 112,390$ 91,821$ 204,211$ Equity (income) loss in a captive insurance company (3,963) (4,993) (1,030) 2,025 995 Combination, integration and other acquisition-related expenses 9,359 20,151 10,792 9,100 19,892 Strategic planning and transformation expenses - - - 6,200 6,200 Executive transition costs 812 2,986 2,174 1,184 3,358 Russia-Ukraine conflict related expenses - - - 2,095 2,095 Facility remediation costs, net - 2,066 2,066 - 2,066 Brazilian non-income tax credits (13,293) (13,087) 206 - 206 Loss on extinguishment of debt - - - 6,763 6,763 Other charges 318 624 306 (253) 53 Adjusted EBITDA 147,205$ 274,109$ 126,904$ 118,935$ 245,839$ 13,272 25,907 34,939 9,032 4,240

©2020 Quaker Houghton. All Rights Reserved 15 Non - GAAP EPS Reconciliation Q2 2022 Q2 2021 FY 2022 FY 2021 GAAP earnings per diluted share attributable to Quaker Chemical Corporation common shareholders Equity loss (income) in a captive insurance company per diluted share 0.10 (0.05) 0.11 (0.22) Combination, restructuring and other acquisition-related expenses per diluted share Strategic planning and transformation expenses per diluted share 0.13 - 0.27 - Executive transition costs per diluted share 0.03 0.02 0.05 0.04 Russia-Ukraine conflict related expenses 0.04 - 0.10 - Brazilian non-income tax credits per diluted share - (0.44) - (0.44) Loss on extinguishment of debt per diluted share 0.29 - 0.29 - Other charges per diluted share (0.00) 0.01 (0.01) 0.02 Impact of certain discrete tax items per diluted share (0.20) 0.10 (0.39) 0.08 Non-GAAP earnings per diluted share 1.32$ 1.82$ 2.74$ 3.93$ 0.80$ 0.30 0.13 4.03$ 1.91$ 1.88$ 0.41 0.42

©2020 Quaker Houghton. All Rights Reserved 16 Segment Performance (dollars in thousands) Q2 2022 Q2 2021 FY 2022 FY 2021 Net sales Americas 172,747$ 139,673$ 326,891$ 274,544$ EMEA 123,053 123,436 248,740 243,250 Asia/Pacific 99,828 91,559 204,062 188,265 Global Specialty Businesses 96,760 80,594 186,866 158,986 Total net sales 492,388$ 435,262$ 966,559$ 865,045$ Segment operating earnings Americas 33,785$ 33,648$ 63,005$ 65,882$ EMEA 13,283 23,405 30,049 48,649 Asia/Pacific 22,226 23,227 44,133 50,705 Global Specialty Businesses 27,841 24,209 52,876 48,378 Total segment operating earnings 97,135 104,489 190,063 213,614 Combination, integration and other acquisition-related expenses (1,832) (6,658) (5,885) (12,473) Restructuring and related charges 1 (298) (819) (1,473) Fair value step up of acquired inventory sold - - - (801) Non-operating and administrative expenses (48,579) (43,077) (92,042) (84,069) Depreciation of corporate assets and amortization (14,822) (15,640) (30,011) (31,088) Operating income 31,903 38,816 61,306 83,710 Other (expense) income, net (8,399) 14,010 (10,605) 18,697 Interest expense, net (6,494) (5,618) (11,839) (11,088) Income before taxes and equity in net (loss) income of associated companies 91,319$ 38,862$ 47,208$ 17,010$

Appendix Pro Forma Results

©2020 Quaker Houghton. All Rights Reserved 18 Full Year 2019 Pro Forma Reconciliation (dollars in millions) Quaker Houghton Divestitures Other (a) Pro Forma* Net sales 1,134$ 475$ (34)$ (13)$ 1,562$ Net Income (Loss) Attributable to Quaker Houghton 32$ (3)$ (6)$ 10$ 33$ Depreciation and Amortization 45 31 - 3 77 Interest Expense, Net 17 33 - (15) 35 Taxes on Income (b) 2 (1) (2) 3 2 EBITDA* 96 60 (8) 1 148 Combination, Integration and Other Acquisition-Related Expenses 35 44 - - 80 Gain on the Sale of Divested Assets - (35) - - (35) Fair Value Step Up of Houghton and Norman Hay Inventory Sold 12 - - - 12 Restructuring and Related Charges 27 - - - 27 Other Addbacks (c) 3 (0) - - 3 Adjusted EBITDA* 173$ 68$ (8)$ 1$ 234$ Adjusted EBITDA Margin* (%) 15% 14% 24% -4% 15% (b) Taxes on income related to both Divestitures and Other reflect each tax effected at the U.S. federal tax rate of 21%. (c) Other addbacks include equity income in a captive insurance company, pension and postretirement benefit costs, non-service components, customer bankruptcy costs, insurance insolvency recoveries and currency conversion impacts of hyper-inflationary economies. 2019 * Certain amounts may not calculate due to rounding, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin (%) as well as the total pro forma financial results presented for combined Quaker Houghton. (a) Other includes: (i) additional depreciation and amortization expense based on the initial estimates of fair value step up and estimated useful lives of depreciable fixed assets, definite-lived intangible assets and investment in associated companies acquired; (ii) adoption of required accounting guidance and alignment of related accounting policies; (iii) elimination of transactions between Quaker and Houghton; and (iv) an adjustment to interest expense, net, to reflect the impact of the new financing and capital structure of the combined Company.

19 ©2020 Quaker Houghton. All Rights Reserved Full Year 2018 Pro Forma Reconciliation (dollars in millions) Quaker Houghton Divestitures Other (a) Pro Forma* Net sales 868$ 861$ (53)$ (22)$ 1,655$ Net Income (Loss) Attributable to Quaker Houghton 59$ (0)$ (9)$ 17$ 66$ Depreciation and Amortization 20 54 - 5 79 Interest Expense, Net 4 56 - (25) 35 Taxes on Income (b) 25 3 (2) 5 30 EBITDA* 108 113 (12) 1 210 Combination, Integration and Other Acquisition-Related Expenses 16 7 - - 23 Other Addbacks (c) 1 2 - - 3 Adjusted EBITDA* 126$ 121$ (12)$ 1$ 236$ Adjusted EBITDA Margin* (%) 14% 14% 23% -4% 14% (b) Taxes on income related to both Divestitures and Other reflect each tax effected at the U.S. federal tax rate of 21%. (c) Other addbacks include currency conversion impacts on hyper-inflationary economies, a gain on the liquidation of an inactive legal entity and charges related to non-recurring non-income tax and VAT charges. 2018 * Certain amounts may not calculate due to rounding, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin (%) as well as the total pro forma financial results presented for combined Quaker Houghton. (a) Other includes: (i) additional depreciation and amortization expense based on the initial estimates of fair value step up and estimated useful lives of depreciable fixed assets, definite-lived intangible assets and investment in associated companies acquired; (ii) adoption of required accounting guidance and alignment of related accounting policies; (iii) elimination of transactions between Quaker and Houghton; and (iv) an adjustment to interest expense, net, to reflect the impact of the new financing and capital structure of the combined Company.

20 ©2020 Quaker Houghton. All Rights Reserved Full Year 2017 Pro Forma Reconciliation (dollars in millions) Quaker Houghton Divestitures Other (a) Pro Forma* Net Income (Loss) Attributable to Quaker Houghton 20$ (47)$ (9)$ 9$ (26)$ Depreciation and Amortization 20 55 - 5 80 Interest Expense, Net 1 51 - (16) 37 Taxes on Income (b) 42 42 (2) 2 84 EBITDA* 83 102 (11) 0 175 Equity Income in a Captive Insurance Company (3) - - - (3) Combination, Integration and Other Acquisition-Related Expenses 30 10 - - 40 Pension and Postretirement Benefit Costs, Non-Service Components 4 (1) - - 4 Cost Reduction Activities 0 2 - - 2 Loss on Disposal of Held-for-Sale Asset 0 - - - 0 Insurance Insolvency Recovery (1) - - - (1) Affiliate Management Fees - 2 - - 2 Non-Income Tax Settlement Expense - 1 - - 1 Other Addbacks (c) 0 0 - - 1 Adjusted EBITDA* 115$ 116$ (11)$ 0$ 221$ Adjusted EBITDA Margin* (%) 14% 15% 20% 0% 14% (b) Taxes on income related to both Divestitures and Other reflect each tax effected at the U.S. federal tax rate of 21%. 2017 * Certain amounts may not calculate due to rounding, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin (%) as well as the total pro forma financial results presented for combined Quaker Houghton. (a) Other includes estimated increases to depreciation and amortization due to purchase accounting fair value adjustments and a reduction of interest expense based on the average borrowings of the period plus the purchase consideration under the Quaker Houghton facility estimated interest rates. (c) Other addbacks includes charges related to inventory fair value step up adjustments in the Wallover acquisition, currency conversion impacts of hyper- inflationary economies and other non-recurring charges.

21 ©2020 Quaker Houghton. All Rights Reserved Full Year 2016 Pro Forma Reconciliation (dollars in millions) Quaker Houghton Divestitures Other (a) Pro Forma* Net Income (Loss) Attributable to Quaker Houghton 61$ (37)$ (8)$ 7$ 23$ Depreciation and Amortization 20 55 - 5 80 Interest Expense, Net 1 51 - (14) 37 Taxes on Income (b) 23 (5) (2) 2 18 EBITDA* 105 64 (10) 0 158 Equity Income in a Captive Insurance Company (2) - - - (2) Combination, Integration and Other Acquisition-Related Expenses 2 3 - - 5 Pension and Postretirement Benefit Costs, Non-Service Components 2 (1) - - 1 Cost Reduction Activities - 4 - - 4 Impairment of Goodwill and Intangible Assets - 41 - - 41 Affiliate Management Fees - 2 - - 2 Non-Income Tax Settlement Expense - 2 - - 2 Full-Year Impact of Wallover Acquisition - 3 - - 3 Other Addbacks (c) (0) 1 - - 1 Adjusted EBITDA* 107$ 119$ (10)$ 0$ 215$ Adjusted EBITDA Margin* (%) 14% 16% 22% 0% 15% (b) Taxes on income related to both Divestitures and Other reflect each tax effected at the U.S. federal tax rate of 21%. * Certain amounts may not calculate due to rounding, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin (%) as well as the total pro forma financial results presented for combined Quaker Houghton. (a) Other includes estimated increases to depreciation and amortization due to purchase accounting fair value adjustments and a reduction of interest expense based on the average borrowings of the period plus the purchase consideration under the Quaker Houghton facility estimated interest rates. (c) Other addbacks includes a charge related to a legal settlement, a charge related to inventory fair value adjustments in the Wallover acquisition, offset by a gain on the sale of an asset, currency conversion impacts of hyper-inflationary economies and a restructuring credit. 2016