Tronox Releases Selected Preliminary Fourth Quarter 2020 Financial Results and Announces Termination of TTI Acquisition Agreement STAMFORD, Conn. , Jan. 18, 2021 |PRNewswire| -- Summary : Released selected preliminary unaudited financial results for the quarter ending December 31, 2020 : Revenue expected to be $783 million (1) Adjusted EBITDA expected to be $200 to $204 million (1)(2) Termination of the TTI transaction agreement following rejection by the U.K. Competition and Markets Authority ("CMA") of a remedy proposal and opening of a Phase 2 investigation $300 million discretionary debt repayment to be made by the end of the quarter from cash on the balance sheet originally intended for the TTI acquisition Total of $500 million in discretionary debt repayments including $200 million repayment made in December 2020 Increasing annualized dividend to $0.32 per share from $0.28 per share, equivalent to a 14 percent increase, effective when the normal first quarter 2021 dividend is declared Well-positioned to continue participation in the recovery and demonstrate the full capabilities of Tronox's vertically integrated portfolio (1) Note: The information is preliminary, based upon information available as of today and is subject to change and finalization following the completion of management's disclosure controls process. (2) Refer to the tables at the end of this press release for a reconciliation to net income.