1. Croda International Plc Results for 6 months to 30 June 2006

2. Basis of preparation of presentation ● IFRS ● Continuing operations Baxenden discontinued Application Chemicals sold to Shell

3. Summary ● 6.5% growth in Group sales Consumer Care sales up 8.2% ● 11.2% rise in pre-tax profits ● 17.6% rise in earnings per share ● 4.65p interim dividend, up 6.9% ● £32.4m returned to shareholders £21.5m treasury stock buyback £10.9m final dividend paid ● Acquisition of Uniqema announced

4. Turnover by segment £m20062005 inc Consumer Care113.5104.9 +8.2% Industrial Specialities51.049.6 +2.8% Total164.5154.5 +6.5%   Consumer Care sales up 8.2% with Personal Care sales particularly strong   Industrial Specialities saw a more modest uplift   Both segments boosted by FX and depressed by reduction in bulk business and toll processing

5. Turnover by destination   Sales up in all regions   Europe has higher proportion of Industrial Specialities and bore the brunt of the reduction in bulk sales £m 2006 2005 inc Europe71.069.0 + 2.9% Americas60.655.9 + 8.4% Asia22.320.2 + 10.4% Rest of World10.69.4 + 12.8% Total164.5154.5 + 6.5%

6. Turnover change on prior year Volume-2.9% Currency+2.5% Mix/price+6.9% Total+6.5%   Currency benefit of 2.5% (principally US$ exchange)   Continuing movement in volume versus mix/price, swapping lower margin volumes (especially toll processing and oil trading at Seatons) for growth in higher margin/value added products Trading/toll processing -28%, other +3.5%

7. Operating profit   Profit uplift and margins maintained despite continued rise in input costs and tough comparatives   Cost of Enterprise Technologies start up   Strong growth continues in Consumer Care   Progress in Industrial Specialities £m 2006 2005 inc Consumer Care23.822.0 + 8.2% Industrial Specialities4.03.9 + 2.6% Total27.825.9 + 7.3% ROS16.9%16.8%

8. Pre-tax profit   Interest line benefits from IAS19 deficit funding   Pre-tax profit up 11.2% up despite interest cost of buyback £m 2006 2005 inc Operating profit27.825.9 + 7.3% Interest0.1(0.8) Pre tax profit27.925.1 + 11.2%

9. Share buy back   Bought back £21.5m shares in Q1   Total buyback £52.4m since start of programme in 2004 £m No. H1 to June 200621.54.3m Year to December 200524.56.1m Year to December 20046.42.1m Total52.412.5m

10. Earnings per share   When added to pre-tax profit uplift, share buyback and slightly lower tax charge boost earnings per share increase to 17.6% 2006 2005 inc Pre tax profit (£m)27.925.1+ 11.2% Tax Rate35.5%35.9% Average shares in issue (No. m)122.4129.3 EPS14.7p12.5p+ 17.6%

11. Interim dividend   Interim dividend increased by 6.9% in line with recent dividend trend   Dividend cover steadily improving 2006 2005 inc EPS14.7p12.5p + 17.6% Interim Dividend4.65p4.35p+6.9%

12. Operating cash flow £m 2006 2005 Operating profit27.825.9 Depreciation7.07.0 Working capital movement(7.9)(3.9) Other-(1.0) Discontinued operations0.20.8 Operating Cash Flow27.128.8

13. Free cash flow £m 2006 2005 Operating cash flow27.128.8 Net interest paid(1.3)(1.0) Tax paid(10.1)(9.1) Free cash flow15.718.7

14. Net cash flow   Capex still lower than depreciation   Sold Application Chemicals   Last year’s interim dividend paid H1, final dividend this year £m 2006 2005 Free cash flow15.718.7 Capex(6.0)(4.1) Business/asset sales4.80.2 Provisions -(5.0) Share buyback/issue(18.8)(8.9) Dividends paid(11.6)(5.4) Currency/other1.0(1.1) Total(14.9)(5.6)

15. Balance sheet   Borrowings increase by only £15m this year despite returning £32m to shareholders £m June June December 2006 2005 2005 Operating assets120.899.6104.8 Net debt (39.1)(20.8)(24.2) Net assets81.778.880.6

16. IAS19 pension deficit   Significant reduction in IAS19 deficit despite static equity market as corporate bond rates rise £m June December 2006 2005 Market value of assets356.2356.1 Value of liabilities(438.5)(463.2) Gross deficit(82.3)(107.1) Funding level81%77% Deficit net of deferred tax(57.8)(75.0)

17. Summary ● 6.5% growth in Group sales Consumer Care sales up 8.2% ● 11.2% rise in pre-tax profits ● 17.6% rise in earnings per share ● 4.65p interim dividend, up 6.9% ● £32.4m returned to shareholders £21.5m treasury stock buyback £10.9m final dividend paid ● Acquisition of Uniqema announced

18. Business Development ● Uniqema Acquisition ● Outlook

19. Timetable Circular-Early August Prospectus-End of August EGM-End of August Completion-Early September

20. Why? ●One of our top targets since 1999 ●Very strong brand franchise in markets we understand ●Products and technologies we understand ●Global leverage with a consolidating customer base ●Good geographic fit ●Strong synergies

21. Size £m Croda Uniqema New Croda Sales 306 626 932 EBITDA 66 49 115 Employees 1,600 2,500 4,100 Factories 12 13 25 (Proforma 05)

22. Integration ●Transition process well advanced – on target for completion date ●Initial integration plan in place ●Assessment starts 1 September 2006 ●New Croda begins 1 January 2007

23. Synergies ●Routes to market ●Products – to “better” markets ●Technologies – market focus ●Operations – range rationalisation ●Facilities – plan developed ●Supply chain/raw materials ●Global sales operations ●£20m fully delivered through 2008

24. Financial Impact ●EPS neutral 2007 ●EPS significantly enhanced 2008 ●ROIC in excess of WACC from 2008 onwards ●Cash generation and debt reduction

25. Summary ●A new platform for growth ●A successful track record in this type of transformation ●Clear industrial logic ●Compelling financial case ●Great opportunity to create shareholder value

26. Outlook ●Good demand ●Raw material and energy costs manageable ●Excellent new product pipeline ●“Old” Croda remains strong and focused ●“New” Croda will be strong and focused