<SEC-DOCUMENT>0000930413-15-000396.txt : 20150206
<SEC-HEADER>0000930413-15-000396.hdr.sgml : 20150206
<ACCEPTANCE-DATETIME>20150206060028
ACCESSION NUMBER:		0000930413-15-000396
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150206
DATE AS OF CHANGE:		20150206
EFFECTIVENESS DATE:		20150206

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DUPONT E I DE NEMOURS & CO
		CENTRAL INDEX KEY:			0000030554
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820]
		IRS NUMBER:				510014090
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00815
		FILM NUMBER:		15581946

	BUSINESS ADDRESS:	
		STREET 1:		1007 MARKET ST
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19898
		BUSINESS PHONE:		3027741000

	MAIL ADDRESS:	
		STREET 1:		1007 MARKET ST
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19898

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRIAN FUND MANAGEMENT, L.P.
		CENTRAL INDEX KEY:			0001345471
		IRS NUMBER:				203454182
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		280 PARK AVENUE
		STREET 2:		41ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		212-451-3000

	MAIL ADDRESS:	
		STREET 1:		280 PARK AVENUE
		STREET 2:		41ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Trian Fund Management, L.P.
		DATE OF NAME CHANGE:	20051128
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>c80174_dfan14a.htm
<TEXT>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 14A </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Rule 14a-101) </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a)
of </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>the Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Amendment No. &nbsp;&nbsp; ) </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.2pt; text-indent: -12.25pt">Filed by the Registrant&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed
by a Party other than the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.2pt; text-indent: -12.25pt">Check the appropriate box:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%;"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Preliminary Proxy Statement </font></td></tr>
</table>
<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"><b>Confidential, for Use of the Commission Only&nbsp;(as permitted by Rule 14a-6(e)(2))</b> </font></td></tr>
</table>
<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Definitive Proxy Statement </font></td></tr>
</table>
<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Definitive Additional Materials </font></td></tr>
</table>
<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">x</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Soliciting Material under &sect;240.14a-12 </font></td></tr>
</table>
<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
<BR>
E. I. du Pont de Nemours and Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Fund Management, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Fund Management GP, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners, L.P. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Strategic Investment Fund,
L.P. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Strategic Investment Fund
II, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Master Fund, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Parallel Fund I, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Master Fund (ERISA), L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Strategic Investment Fund-A,
L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Strategic Investment Fund-D,
L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Strategic Investment Fund-N,
L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian SPV (SUB) VIII, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Fund (Sub)-G, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Trian Partners Fund (Sub)-G II, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nelson Peltz</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Peter W. May</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Edward P. Garden</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>John H. Myers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Arthur B. Winkleblack</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Robert J. Zatta</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>(Name of Person(s) Filing
Proxy Statement, if other than the Registrant) </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PAYMENT OF FILING FEE </B>(Check the appropriate box):</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">x</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">No fee required </font></td></tr>
</table>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<tr style="vertical-align: top">
    <td style="width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </font></td></tr>
</table>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 4%; font: 7.5pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">1)</font></td>
    <td style="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Title of each class of securities to which transaction applies:</font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">2)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Aggregate number of securities to which transaction applies: </font></td></tr>
</table>
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<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">3)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): </font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">4)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Proposed maximum aggregate value of transaction: </font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 3%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">5)</font></td>
    <td style="vertical-align: top; width: 1%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Total fee paid: </font></td></tr>
</table>
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Fee paid previously with preliminary materials. </font></td></tr>
</table>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. </font></td></tr>
</table>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">1)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Amount Previously Paid: </font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">2)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Form, Schedule or Registration Statement No.: </font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">3)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Filing Party: </font></td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr>
    <td style="width: 4%; font-size: 7.5pt">&nbsp;</td>
    <td style="vertical-align: top; width: 4%; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">4)</font></td>
    <td style="vertical-align: top; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Date Filed: </font></td></tr>
</table>
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On February 5, 2015, Trian Fund Management, L.P.
issued the following press release:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 40.3pt; width: 166.3pt"></P>

<P STYLE="margin: 0; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>TRIAN ISSUES STATEMENT REGARDING
DUPONT</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>NEW YORK, February 5, 2015</B> &ndash; Trian Fund
Management, L.P. (&ldquo;Trian&rdquo;), one of the largest stockholders of E. I. du Pont de Nemours and Company (NYSE: DD), which
currently beneficially owns approximately 24.6 million DuPont shares valued at approximately $1.9 billion, today issued the following
statement regarding DuPont&rsquo;s announcement earlier today:</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&ldquo;With today&rsquo;s announcement, DuPont appears
to be acknowledging the need to upgrade its board of directors with individuals that have &ldquo;fresh, independent, highly relevant
perspectives.&rdquo; This is yet another positive development since Trian&rsquo;s involvement with DuPont began in March 2013.
Trian&rsquo;s principals have spent time with Messrs. Breen and Gallogly and respect their records of stockholder value creation.
While Trian has already made a positive impact on value creation at DuPont, there is much more value to be unlocked as earnings
in 2012, 2013, 2014 and, per Company guidance, 2015 (which we believe they will struggle to achieve), are lower than in 2011. The
Trian nominees, working collaboratively with the remaining board members, will seek to assure that management is held accountable
for achieving their stated financial targets.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Since Trian&rsquo;s investment, the Company has announced
several positive initiatives:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Announced the spin-off of Performance Chemicals (Chemours); allows
DuPont stockholders to own the new company and avoids significant tax leakage, versus pre-Trian decision to sell Axalta to private
equity, which effectively transferred over $5bn of wealth from DuPont stockholders to private equity owners</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">DuPont has announced 14 non-core divestitures since Trian began discussions
with the Company</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">After taking 10 years to complete a previously announced $2bn share
repurchase program launched in 2001, DuPont announced a new $5bn share repurchase plan in January 2014</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Committed to return $4bn of capital to stockholders from the &ldquo;midnight
dividend&rdquo; from Chemours</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; height: 24px">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Announced Fresh Start Initiative, a $925mm cost savings program</FONT><FONT STYLE="font: 11pt/115% Times New Roman, Times, Serif"><SUP>i</SUP></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">However, we have many outstanding concerns that we intend
to address if the Trian nominees are elected to the board, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">EPS down 7% since 2011; we estimate $2-$4bn of excess corporate costs
is a major factor</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chronic one-time earnings add-backs and lack of transparency in financial
reporting</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue growth and margins underperform peers in 5 of 7 segments</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Limited commitment to have Fresh Start cost savings hit the bottom
line</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chemours spinoff taking nearly two years to complete since announcement</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Poor corporate governance at Chemours, a major retreat from best-in-class
practices that would benefit stockholders</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">No time commitment on the remaining $3bn of $5bn share repurchase
authorization</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Long-term compensation programs that pay management 113% of &ldquo;target&rdquo;
despite bottom quartile TSR over the relevant time period</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Failure to meet Applied Bioscience goals</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Agriculture R&amp;D that has yielded negative results: 1) No new biotech
traits discovered 2) $1bn jury verdict (Optimum GAT) and $1.2bn Imprelis charges and 3) Licensing from biggest competitor</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Poor capital allocation decisions, such as growing capacity in commoditized
markets</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">A board that takes action only when confronted with outside pressure
rather than one that prioritizes shareholder value</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">DuPont has asserted that &ldquo;Trian has chosen this
path [a proxy contest] with the potential to disrupt our Company at a key stage of our execution.&rdquo; The fact is Trian has
consistently and purposefully avoided proxy contests over the years. There have been many situations where we believe we could
have gained more seats than we settled for, but instead we compromised to avoid unnecessary distraction. In August 2014, after
management had announced in June that they would miss guidance for the third year in a row, we offered to settle for the addition
of one Trian principal to the Board. In return we pledged to work constructively to unlock value from a <I>minority</I> position
&ndash; one where we could only influence events by convincing the majority of board members with &ldquo;the power of the argument.&rdquo;
That proposal was unanimously rejected by the board. Disappointingly, the Company continues to perform poorly, exemplified by last
week&rsquo;s earnings call and weak 2015 guidance.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">We cannot be passive while management continues to falter.
Management seems to believe that the stock price appreciation is being driven by its claims of &ldquo;advancing our plan to deliver
higher growth and higher value&rdquo; and &ldquo;the ongoing success of our plan.&rdquo; The fact is DuPont&rsquo;s stock has risen
over 50% since Trian first invested, while consensus EPS estimates have consistently gone down. We believe this reflects the market&rsquo;s
desire for Trian&rsquo;s continued involvement.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Trian has a $1.9bn position in DuPont stock because
we believe the Company can operate at a substantially higher level, unlocking significant further value for stockholders. While
DuPont frames Trian&rsquo;s insistence that Nelson Peltz be added to the Board as a negative, we believe fellow stockholders want
our nominees on the Board, specifically Mr. Peltz, based on their strong track records of value creation, relevant operating expertise,
and new and different perspectives. We view the proxy contest as the democratic process at work and look forward to continuing
our dialogue with fellow stockholders who have encouraged us to stand up for all stockholders as their voice in the board room.&rdquo;</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>DUPONT CAN BE GREAT</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0"><B>About Trian Fund Management, L.P.</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0">Founded in 2005 by Nelson Peltz, Peter May and Ed Garden, Trian
seeks to invest in high quality but undervalued and under-performing public companies and to work constructively with the management
and boards of those companies to significantly enhance shareholder value for all shareholders through a combination of improved
operational execution, strategic re-direction, more efficient capital allocation and increased focus.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Media Contact:</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Anne A. Tarbell</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Trian Fund Management, L.P.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 451-3030</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><U>atarbell@trianpartners.com</U></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 0">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">George Sard</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Sard Verbinnen &amp; Co</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 687-8080</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><U>gsard@SARDVERB.com</U></P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Carissa Felger</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Sard Verbinnen &amp; Co</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 687-8080</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><U>cfelger@SARDVERB.com</U></P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Amanda Klein</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Sard Verbinnen &amp; Co</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 687-8080</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><U>aklein@SARDVERB.com</U></P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></td></tr>
</table>
<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Investor Contact:</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 0">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Charlie Koons</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">MacKenzie Partners, Inc.</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 929-5708<br>
        <FONT STYLE="font-size: 11pt"><U>ckoons@mackenziepartners.com</U></FONT></P></td>
    <td style="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">Daniel Burch</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">MacKenzie Partners, Inc.</P>
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0">(212) 929-5748<br>
        <FONT STYLE="font-size: 11pt"><U>dburch@mackenziepartners.com</U></FONT></P></td></tr>
</table>
<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><BR>
<B># # #</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>The views expressed in this press release represent the
opinions of Trian Fund Management, L.P. (&ldquo;<U>Trian</U>&rdquo;) and the investment funds it manages (collectively, Trian with
such funds, &ldquo;<U>Trian Partners</U>&rdquo;), and are based on publicly available information with respect to E. I. du Pont
de Nemours and Company (the &ldquo;<U>Company</U>&rdquo;). Trian Partners recognizes that there may be confidential information
in the possession</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I></I></P>

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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>of the Company that could lead it to disagree with Trian Partners&rsquo; conclusions. Trian Partners reserves
the right to change any of its opinions expressed herein at any time as it deems appropriate. Trian Partners disclaims any obligation
to update the information or opinions contained in this press release.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>Certain financial projections and statements made herein
have been derived or obtained from filings made with the Securities and Exchange Commission (&ldquo;<U>SEC</U>&rdquo;) or other
regulatory authorities and from other third party reports. Neither Trian Partners nor any of its affiliates shall be responsible
or have any liability for any misinformation contained in any third party SEC or other regulatory filing or third party report.
There is no assurance or guarantee with</I> <I>respect to the prices at which any securities of the Company will trade, and such
securities may not trade at prices that may be implied herein. The estimates, projections and potential impact of the opportunities
identified by Trian Partners herein are based on assumptions that Trian Partners believes to be reasonable as of the date of this
press release, but there can be no assurance or guarantee that actual results or performance of the Company will not differ, and
such differences may be material.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>This press release is provided merely as information and
is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security. This
press release does not recommend the purchase or sale of any security. Funds managed by Trian currently beneficially own, and/or
have an economic interest in, shares of the Company. These funds are in the business of trading &ndash; buying and selling&ndash;
securities. It is possible that there will be developments in the future that cause one or more of such funds from time to time
to sell all or a portion of their holdings of the Company in open market transactions or otherwise (including via short sales),
buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls or other
derivative instruments relating to such shares.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><B>Cautionary Statement Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>This press release contains forward-looking statements.
All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events
are forward-looking, and the words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;potential,&rdquo;
&ldquo;opportunity,&rdquo; &ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; and similar expressions are generally intended to identify
forward-looking statements. The projected results and statements contained in this press release that are not historical facts
are based on current expectations, speak only as of the date of this press release and involve risks, uncertainties and other factors
that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by such projected results and statements. Assumptions relating to the foregoing involve judgments with respect
to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult
or impossible to predict accurately and many of which are beyond the control of Trian Partners. Although Trian Partners believes
that the assumptions underlying the projected results or forward-looking statements are reasonable as of the date of this press
release, any of the assumptions could be inaccurate and therefore, there can be no assurance that the projected results or forward-looking
statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the
projected results and forward-looking statements included in this press release, the inclusion of such information should not be
regarded as a representation as to future results or that the objectives and strategic initiatives expressed or implied by such
projected results and forward-looking statements will be achieved. Trian Partners will not undertake and specifically declines
any obligation to disclose the results of any revisions that may be made to any projected results or forward-looking statements
in this press release to reflect events or circumstances after the date of such projected results or statements or to reflect the
occurrence of anticipated or unanticipated events.</I></P>

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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><B>Additional Information</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>Certain of the Trian Partners, together with the other
Participants (as defined below), intend to file with the SEC a proxy statement and an accompanying proxy card to be used to solicit
proxies in connection with the 2015 Annual Meeting of Stockholders of the Company, including any adjournments or postponements
thereof or any special meeting that may be called in lieu thereof (the &ldquo;<U>2015 Annual Meeting</U>&rdquo;). Information relating
to the participants in such proxy solicitation (the &ldquo;<U>Participants</U>&rdquo;) has been included below. Stockholders are
advised to read the definitive proxy statement and any other documents related to the solicitation of stockholders of the Company
in connection with the 2015 Annual Meeting when they become available because they will contain important information, including
additional information relating to the Participants. When completed and available, the Trian Group&rsquo;s (as defined below) definitive
proxy statement and a form of proxy will be mailed to stockholders of the Company. These materials and other materials filed by
the Trian Group in connection with the solicitation of proxies will be available at no charge at the SEC&rsquo;s website at www.sec.gov.
The definitive proxy statement (when available) and other relevant documents filed by the Trian Group with the SEC will also be
available, without charge, by directing a request by mail, telephone or email to Trian&rsquo;s proxy solicitor, MacKenzie Partners,
Inc. 105 Madison Avenue, New York, New York 10016 (call collect: (212) 929-5500; call toll free: (800) 322-2885) or email:&nbsp;<U>proxy@mackenziepartners.com</U>.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&#9;&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><B>Participants in Solicitation</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>The Participants in the proxy solicitation in connection
with the 2015 Annual Meeting are anticipated to include the Trian Funds, Trian Partners Master Fund, L.P., a Cayman Islands limited
partnership (&ldquo;<U>Trian Offshore</U>&rdquo;), Trian Partners Parallel Fund I, L.P., a Delaware limited partnership (&ldquo;<U>Parallel
Fund I</U>&rdquo;), Trian Partners Master Fund (ERISA), L.P., a Cayman Islands limited partnership (&ldquo;<U>Trian ERISA</U>&rdquo;),
Trian Partners Strategic Investment Fund-A, L.P., a Delaware limited partnership (&ldquo;<U>Strategic Fund-A</U>&rdquo;), Trian
Partners Strategic Investment Fund-D, L.P., a Cayman Islands limited partnership (&ldquo;<U>Strategic Fund-D</U>&rdquo;),Trian
Partners Strategic Investment Fund-N, L.P., a Delaware limited partnership (&ldquo;<U>Strategic Fund-N</U>&rdquo;) Trian SPV (SUB)
VIII, L.P., a Cayman Islands limited partnership (&ldquo;<U>SPV VIII</U>&rdquo;), Trian Partners Fund (Sub)-G, L.P., a Delaware
limited partnership (&ldquo;<U>Trian Fund-G</U>&rdquo;), Trian Partners Fund (Sub)-G II, L.P., a Delaware limited partnership (&ldquo;<U>Trian
Fund G-II</U>,&rdquo; and together with the Trian Funds, Trian Offshore, Parallel Fund I, Trian ERISA, Strategic Fund-A, Strategic
Fund-D, Strategic Fund-N, SPV VIII, Trian Fund-G and Trian Fund G-II, the &ldquo;<U>Funds</U>&rdquo;), Trian, Trian Fund Management
GP, LLC, a Delaware limited liability company (&ldquo;<U>Trian Management GP</U>&rdquo;), Nelson Peltz, Peter W. May, Edward P.
Garden John H. Myers, Arthur B. Winkleblack and Robert J. Zatta.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>Trian Management GP is the general partner of Trian, which
serves as the management company for each of the Funds. Trian Management GP is controlled by Nelson Peltz, Peter W. May and Edward
P. Garden. Each of Trian, Trian Management GP and Messrs. Peltz, May and Garden (together with the Funds, the &ldquo;<U>Trian Group</U>&rdquo;),
by virtue of their relationships to the Funds, may be deemed to have shared voting power and shared dispositive power with regard
to, and therefore may be deemed to beneficially own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934,
as amended (the &ldquo;<U>Exchange Act</U>&rdquo;)) the Shares owned by the Funds.</I></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><I>As of the date of this press release, the members of the
Trian Group beneficially own (within the meaning of Rule 13d-3 under the Exchange Act) an aggregate of 24,563,084 Shares. Of those
24,563,084 Shares, each of Trian Onshore, Strategic and Strategic II owns 100 Shares in record name.</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>###</B></P>




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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font: 10pt/115% Calibri, Helvetica, Sans-Serif"><SUP>i</SUP></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
Represents announcement of Fresh Start Initiative in which $1.3bn cost saving plan includes $375mm of costs transferred to Performance
Chemicals.&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
