vvvv  Calgon Carbon Corporation4Q 2016 Earnings Presentation  February 24, 2017  

 Safe Harbor Statement  This presentation contains historical information and forward-looking statements. Forward-looking statements typically contain words such as “expect,” “believe,” “estimate,” “anticipate,” or similar words indicating that future outcomes are uncertain. Statements looking forward in time, including statements regarding future growth and profitability, price increases, cost savings, broader product lines, enhanced competitive posture and acquisitions, are included in this presentation pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that may cause Calgon Carbon Corporation’s (the Company’s) actual results in future periods to be materially different from any future performance suggested herein. Further, the Company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the Company’s control. Factors that could affect future performance of the Company include, without limitation: the Company’s ability to successfully integrate the November 2, 2016 acquisition of the assets and business of the wood-based activated carbon, reactivation, and mineral-based filtration media of CECA, a subsidiary of Arkema Group (the New Business) and achieve the expected results of the acquisition, including any expected synergies and the expected future accretion to earnings; changes in, or delays in the implementation of, regulations that cause a market for our products; changes in competitor prices for products similar to ours; higher energy and raw material costs; costs of imports and related tariffs; unfavorable weather conditions and changes in market prices of natural gas relative to prices of coal; changes in foreign currency exchange rates and interest rates; changes in corporate income and cross-border tax policies of the United States and other countries; labor relations; availability of capital and environmental requirements as they relate to both our operations and to those of our customers; borrowing restrictions; validity of patents and other intellectual property; and pension costs. In the context of the forward-looking information provided in this presentation, please refer to the discussions of risk factors and other information detailed in, as well as the other information contained in the Company’s most recently filed Annual Report. Any forward-looking statement speaks only as of the date on which such statement is made and the Company does not intend to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by the Federal securities laws of the United States. 

 4Q and Full Year 2016 Highlights  4Q16 sales increased 11% over 3Q16Legacy sales increased 1%$12.1 million of sales from the New Business (1) 4Q16 results burdened by acquisition and project-related expenses Loss from operations of $(5.4) million includes $13.7 million of acquisition and project-related expenses Including $6.5 million of business and asset transfer taxes determined to require immediate expense recognition 2016 EPS challenges Weak industrial sector demandLow natural gas prices and unfavorable weather conditions weighed on mercury removal sales Lack of orders due to continued ballast water regulations implementation delaysSignificant acquisition and project costs Maintained our leadership position for high-end, high-performing activated carbon solutionsStrong 2016 operating cash flow of ~$70 million Returned capital to shareholders of $18.8 million during 2016  Consolidated Sales  Fully Diluted EPS  (Millions)  (Per share)  (Per share)  (Millions)  (1) New Business refers to the wood-based activated carbon, reactivation and filter aid business acquired on November 2, 2016.   New Business(1) Sales  $12.1  New Business(1) Sales  $12.1 

 End Market Review  Potable Water   Demand conditions remain strongAwarded 20 perfluorinated compounds (PFC) projects in North America in 2016, valued at ~$10.0 million; ~$2 million in 4QActive opportunities >2x 2016 awards in both number and valueTipton reactivation facility returned to service Shipped remaining 1.3 million pounds to drinking water treatment facility in Hong Kong  Industrial Processes   Initial signs of improving demand toward the end of the quarter, curbing 2016 softness Early indications of improving economic conditions, including positive manufacturing & production index trends  Environmental Air  Environmental Water  4Q16 industrial-sector project demand not as robust as last year Trending higher since 3Q16, lowest quarter for the year Set to begin testing of Hyde GUARDIAN® system under USCG testing protocols in MarchExpect to submit application for USCG Type Approval in 4Q 2017  Industrial sector maintenance project demand remained soft; inquiry levels and funnel of opportunities trending higherMercury removal sales benefiting from new customers and recent rise in natural gas prices Continued winning new customers including those requiring hard-to-treat mercury removal solutions  Food and Beverage   Markets and demand remain relatively stable; customers looking to optimize carbon usageNew Business (1) wood-based activated carbon and diatomaceous earth and perlite filtration media adding to end market volumes   Specialty Carbons   Won new business for outsourced metals recovery activated carbon products Recently secured new 5-year contract for respirator carbon products with existing customerContract calls for sales of ~$6 million per year   (1) New Business refers to the wood-based activated carbon, reactivation and filter aid business acquired on November 2, 2016.  

 New Business(1) Update  Value creation path - synergies and projects on track for realization by 2019 Debottlenecking of wood-based carbon facility proceeding smoothly Capture of expected cost synergies on track Beginning to capture opportunities to utilize available reactivation capacity in Italy for incremental businessContinue to be sold out of wood-based activated carbon productFinancial impact status updatePurchase accounting adjustments expected to be ~$(0.04) per fully diluted share in 2017Transaction expected to be accretive to fully diluted EPS in 2017   (1) New Business refers to the wood-based activated carbon, reactivation and filter aid business acquired on November 2, 2016.  

 Gross Margin (before depreciation and amortization)Legacy business slightly above expectations driven by cost improvements and manufacturing efficienciesNew Business(1) results include 0.7 percentage point dilutive impact from $1.0 million in costs related to scheduled plant maintenance outages 1.1 percentage point ($1.5 million) impact from inventory-related purchase accounting adjustment costsOperating Income/LossNew Business(1) results represent 2 months of D&A and operating expensesIncremental $11.6 million of acquisition and project-related expenses 4Q15 included $0.6 million of acquisition costs Including $6.5 million related to expected French business and asset transfer tax payments   Income Statement Highlights   (1) New Business refers to the wood-based activated carbon, reactivation and filter aid business acquired on November 2, 2016.   $1.4  $0.2  $2.9 

 $69.6  Operating Cash Flow Comparison   $69.9  FY 2016(Millions)  FY 2015(Millions) 

 Uses of Cash Comparison   FY 2016(Millions)  FY 2015(Millions) 

  3Q ‘16 to 4Q ‘16 ∆ 2% - 5% higher  Other Income Statement Line Items   1Q Outlook   Cash Flow Line Items   Full year capital expenditures   $70-$80 million   Consolidated Sales      1Q ‘16 to 1Q ‘17 ∆ 18% - 20% higher  1Q 2016 $120.2 M  Expect 1Q sales to increase 18% to 20% from 1Q16 New Business(1) contribution of $21 to $24 millionLegacy business sales flat Higher mercury removal, potable water and respirator carbon sales Lower UV equipment and Japan salesIndustrial sector sales comparable to 1Q16Includes negative currency translation of ~$2.0 million  Net sales less the cost of products sold (excluding D&A) as a percentage of net sales  31% - 32%   Includes ~(0.5) percentage points related to step-up of New Business(1) inventory      Depreciation and amortization   ~$11.5 million  SG&A and research expenses % sales, including: ~$1.4 million of integration costs ~$1.0 million of subsidiary reorganization costs Total of ~(1.7) percentage points   17.5% -18.5%  Interest and other expense - net Income taxes to be impacted by discrete subsidiary reorganization tax charge of ~$2 million   ~$2.5 million  (1) New Business refers to the wood-based activated carbon, reactivation and filter aid business acquired on November 2, 2016.  

 

 Cautiously optimistic about recovery in industrial sector demand Legacy business sales growth drivers: PFC removal and other opportunities in the potable water market Mercury removal product sales from elevated natural gas prices and new customers requiring hard-to-treat solutionsHigher ballast water equipment sales toward the end of the year assuming regulatory compliance remains on trackNew Business expected to contribute ~$100 million in sales Expect to generate more than $100 million in EBITDA Continue to focus on reducing costs and further improve operational and manufacturing processes to drive higher levels of profitabilityIntegration of acquired wood-based activated carbon and filter aid business and capture of expected synergies and benefits from projectsSustain leading position in end markets that value high-performing products  2017 Outlook and Priorities 

 

 Questions & Answers Session    Randall S. DearthChairman, President and Chief Executive Officer    James A. Coccagno Executive Vice President of Core Carbon and Services Division    Stevan R. SchottExecutive Vice President of Advanced Materials, Manufacturing, and Equipment Division    Robert FortwanglerSenior Vice President and Chief Financial Officer