Hexion Inc. Receives Court Approval for Disclosure Statement

Hexion Inc. (“Hexion” or the “Company”) today announced that the U.S.
Bankruptcy Court for the District of Delaware (“the “Bankruptcy Court”)
has approved, among other things, the adequacy of the Company’s
Disclosure Statement filed in connection with the Company’s financial
de-leveraging plan (the “Plan”) and the procedures to be used in
connection with the solicitation of votes on the Plan. Once the
Bankruptcy Court has entered its order approving the Disclosure
Statement, Hexion can commence solicitation of votes from its creditors
for approval of the Plan. The consummation of the Plan is subject to
Bankruptcy Court approval and satisfaction of other conditions. The
hearing to consider confirmation of the Plan is expected to occur on or
around June 24, 2019, with emergence anticipated this summer.

Craig A. Rogerson, President and CEO of Hexion, said: “The Court’s
authorization to begin the formal solicitation of votes for our
de-leveraging plan represents a substantial milestone in our accelerated
Chapter 11 process. With commitments already in hand for $1.6 billion in
exit financing and the reduction of more than $2 billion of debt, Hexion
will emerge from this process with a significantly stronger balance
sheet. We will be well-positioned to further invest in our specialty
product portfolio, generating greater long-term growth and value for all
our stakeholders.”

As previously announced on April 1, 2019, Hexion entered into the
restructuring support agreement (“RSA”) with the vast majority of
holders of the Company’s secured and unsecured debt, representing
overwhelming consensus across its capital structure, on the terms of a
consensual financial de-leveraging plan. The Bankruptcy Court approved
the Company’s assumption of the RSA on May 15, 2019.

All of Hexion’s global business segments are continuing to operate as
normal, and Hexion’s operations outside the U.S. are not included in the
Chapter 11 proceedings.

Additional Information

Additional information regarding Hexion’s restructuring is available at www.hexionrestructuring.com.
Suppliers with questions can contact a dedicated hotline, toll-free at
+1-614-225-2222 between the hours of 9 AM and 5 PM Eastern Time Monday
through Friday. Court filings and information about the claims process
are available at https://omnimgt.com/hexionrestructuring,
by calling Hexion’s claims agent, Omni Management Group, at
+1-888-204-1627 (or +1-818-906-8300 for international calls) or sending
an email to [email protected].

About the Company

Based in Columbus, Ohio, Hexion Inc. is a global leader in thermoset
resins. Hexion Inc. serves the global wood and industrial markets
through a broad range of thermoset technologies, specialty products and
technical support for customers in a diverse range of applications and
industries. Additional information about Hexion Inc. and its products is
available at www.hexion.com.

Forward-Looking and Cautionary Statements

Certain statements in this press release are forward-looking statements
within the meaning of and made pursuant to the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. In addition, our
management may from time to time make oral forward-looking statements.
All statements, other than statements of historical facts, are
forward-looking statements. Forward-looking statements may be identified
by the words “believe,” “expect,” “anticipate,” “project,” “plan,”
“estimate,” “may,” “will,” “could,” “should,” “seek” or “intend” and
similar expressions. Forward-looking statements reflect our current
expectations and assumptions regarding our business, the economy and
other future events and conditions and are based on currently available
financial, economic and competitive data and our current business plans.
Actual results could vary materially depending on risks and
uncertainties that may affect our operations, markets, services, prices
and other factors as discussed in the Risk Factors section of our
filings with the SEC. While we believe our assumptions are reasonable,
we caution you against relying on any forward-looking statements as it
is very difficult to predict the impact of known factors, and it is
impossible for us to anticipate all factors that could affect our actual
results. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include, but are
not limited to, our ability to obtain the approval of the Bankruptcy
Court with respect to motions filed in the Chapter 11 cases and the
outcomes of Bankruptcy Court rulings and the Chapter 11 cases in
general, the effectiveness of the overall restructuring activities
pursuant to the Chapter 11 filings and any additional strategies that we
may employ to address our liquidity and capital resources, the actions
and decisions of creditors, regulators and other third parties that have
an interest in the Chapter 11 cases, restrictions on us due to the terms
of any debtor-in-possession credit facility that we may enter into in
connection with the Chapter 11 cases and restrictions imposed by the
Bankruptcy Court, the timing for resolving and any impact of the network
security incident, a weakening of global economic and financial
conditions, interruptions in the supply of or increased cost of raw
materials, the loss of, or difficulties with the further realization of,
cost savings in connection with our strategic initiatives, the impact of
our substantial indebtedness, our failure to comply with financial
covenants under our credit facilities or other debt, pricing actions by
our competitors that could affect our operating margins, changes in
governmental regulations and related compliance and litigation costs and
the other factors listed in our SEC filings. For a more detailed
discussion of these and other risk factors, see the Risk Factors section
in our most recent Annual Report on Form 10-K and Quarterly Report on
Form 10-Q and our other filings made with the SEC. All forward-looking
statements are expressly qualified in their entirety by this cautionary
notice. The forward-looking statements made by us speak only as of the
date on which they are made. Factors or events that could cause our
actual results to differ may emerge from time to time. We undertake no
obligation to publicly update or revise any forward-looking statement as
a result of new information, future events or otherwise, except as
otherwise required by law.

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