Financial Highlights

In 2016, we returned solid results despite facing many challenges in the global marketplace. Our business model, based on customer intimacy and a balanced approach to growth, continues to work well for Quaker.

Our cash at year end was $88.8 million— it exceeded our debt of $66.5 million by $22.3 million.

$100 80 60 40 20 0

Cash Debt

Quaker has increased or maintained its dividend every year since going public in 1972.

We’ve outpaced the major stock indices over the last five years. Quaker’s total
shareholder return has continued to significantly outperform—yielding a 243%
return to our shareholders since 2011.

COMPARISON OF CUMULATIVE FIVE-YEAR TOTAL RETURN (assumes an investment of $100 on December 31, 2011)

$400 350 300 250 200 150 100 50

Dec'11 Dec'12 Dec'13 Dec'14 Dec'15 Dec'16

Quaker Chemical Corporation
S&P SmallCap 600 Index
S&P 600 Materials Group Index

STOCK PRICE TREND (average share price in dollars)

$100 90 80 70 60 50 40

'12
Avg '13
Avg '14
Avg '15
Avg '16
Avg

Our stock attained the highest average price...ever. In 2016, our average stock price was $94.74 per share—up 14% compared to $83.29 per share in 2015.

NON-GAAP EARNINGS
PER DILUTED SHARE*
(share price in dollars)

$5.00 4.50 4.00 3.50 3.00

'12 '13 '14 '15 '16

Non-GAAP earnings per diluted share were strong—$4.60 in 2016 compared to $4.43 in 2015.

ADJUSTED EBITDA* (dollars in millions)

$110 100 90 80 70 60