Afton Chemical Continues to Invest in Capabilities to Meet Growing Market Needs in Transmission Fluids and Electric Vehicles

Afton Chemical Corporation, a global leader in petroleum additives,
announced the recent completion of a $70 MM USD investment in its Sauget, IL
Plant’s Automatic Transmission Fluid (ATF) additive production facility.

The investment will help support the growing needs of oil marketers and
Original Equipment Manufacturers (OEMs) for next-generation developments in
electric vehicle (EV) fluids, including hybrid and battery electric vehicles
(HEV, BEV). The improvements will also provide additional capability and
capacity to meet continuing quality standards such as IATF 16949.

“We are committed to maintaining best-in-class manufacturing capabilities to
better manage and respond to the needs of oil marketers and OEMs in the
rapidly evolving EV market,” said Ryan Pannell, VP of Manufacturing. “The
investments improve the overall efficiency of our manufacturing footprint to
ensure supply continuity for our customers.” With the support of its parent
company NewMarket Corporation, Afton has invested over half a billion USD
since 2016 in capability and capacity around the world.

“We are proud of the Sauget team’s ability to safely complete this complex
project during the past two years. The capability and capacity added to the
facility have us well-positioned to meet our customer’s increasing needs,”
commented Kevin Steding, Sauget Plant Manager.

Afton Chemical is a global leader in automatic transmission fluid (ATF)
additives, resulting from many years of research and development with the
world’s major OEMs. Afton leads the way in transmission additives for
traditional step-type automatics and newer technologies, such as dual-clutch
transmissions (DCT) and continuously variable transmissions (CVT) – and
continues the leadership in electric transmissions.

“The rapid pace of change in HEV and BEV development brings additional
lubricant demands and opportunities for enhanced performance, neither of
which should be overlooked,” said Adam Banks, eMobility Marketing Manager.
“Close supplier partnerships are vital to ensure that electrified
transmission fluid (ETF) enables OEMs to keep driving powertrain designs
forward without being held back. In addition, we continue to invest in new
capabilities at our technology centers in the US, UK, China, and Japan for
the unique testing and development capabilities necessary for EV product
development and technology understanding. Our commitment to electrification
and its role in delivering carbon improvement is part of Afton’s
multi-faceted plan to make the world a better place.”

Afton’s Sauget, IL Plant has produced additives for the lubricant markets
since 1975. The facility is an OSHA VPP Star site and is RC-14001:2008, ISO
14001:2004 by DNV Certification, Inc., and ISO 9001 certified.

About Afton Chemical Corporation:

Afton Chemical Corporation is part of the NewMarket Corporation (NYSE: NEU)
family of companies. Afton Chemical Corporation uses its formulation,
engineering and marketing expertise to help their customers develop and
market fuels and lubricants that reduce emissions, improve fuel economy,
extend equipment life, improve operator satisfaction and lower the total
cost of vehicle and equipment operation. Afton Chemical Corporation develops
and sells an extensive line of unique additives for gasoline and distillate
fuels, driveline fluids, engine oils and industrial lubricants. Afton
Chemical Corporation supports global operations through regional
headquarters located in Asia Pacific, EMEAI, Latin America and North
America. Afton Chemical Corporation is headquartered in Richmond, Virginia.
For more information, visit www.aftonchemical.com.