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# DuPont Agrees to Sell 80.1% Ownership Interest in Delrin Business

### Introduction and Agreement Details

WILMINGTON, Del., Aug. 21, 2023 /PRNewswire/ — DuPont (NYSE: DD) has announced a definitive agreement to sell an 80.1% ownership interest in the Delrin® acetal homopolymer (H-POM) business to TJC LP (TJC) for $1.8 billion. The transaction is expected to close around year-end 2023, subject to customary closing conditions and regulatory approval.

### Financial Details

Under the agreement, DuPont will receive pre-tax cash proceeds of approximately $1.25 billion, along with a note receivable of $350 million. Additionally, DuPont will retain a 19.9% non-controlling common equity interest in the Delrin business.

### Strategic Move for DuPont

DuPont’s Executive Chairman and CEO, Ed Breen, stated that this sale marks the completion of their planned exit from the former M&M segment and helps position DuPont as a premier multi-industrial company. The transaction is structured to provide significant cash proceeds that can be deployed according to DuPont’s strategic priorities. Furthermore, by retaining an equity interest in the Delrin business, DuPont can participate in potential future upside.

### TJC as a Partner

TJC is a middle-market private equity firm with a successful track record of creating value through an operations-focused approach. DuPont is confident in TJC’s ability to drive growth and opportunities for employees and customers of the Delrin business. Delrin, known for its use in safety critical and high cost-of-failure applications across various industries, is widely recognized as a superior material choice.

### Future Operations and Advisory Roles

During the period leading up to the transaction closing, the results of operations of the Delrin business will be presented as discontinued operations in DuPont’s consolidated financial statements. Goldman Sachs & Co. LLC is serving as DuPont’s financial advisor, while Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel. Citi is acting as financial advisor to TJC, with Kirkland & Ellis LLP providing legal counsel.

### About TJC and DuPont

TJC (formerly known as The Jordan Company) is a middle-market private equity firm founded in 1982. With a 41-year track record and original capital commitments exceeding $22 billion, TJC has experience across multiple industries, including Diversified Industrials; Technology, Telecom & Power; Logistics & Supply Chain; and Consumer & Healthcare. DuPont, on the other hand, is a global innovation leader that offers technology-based materials and solutions for various industries.

### Forward-Looking Statements and Cautionary Statement

This communication contains forward-looking statements, which address expected future business and financial performance. These statements are subject to uncertainties, risks, and assumptions that are beyond DuPont’s control and may result in actual results differing from those expressed in the forward-looking statements. DuPont assumes no obligation to provide revisions or updates to any forward-looking statements, except as required by securities and other applicable laws.

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