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NewMarket Corporation Approves a New Stock Repurchase Authorization

RICHMOND, Va.–(BUSINESS WIRE)–The Board of Directors of NewMarket Corporation (NYSE:NEU) approved a
new share repurchase program and authorized management to repurchase up
to $500 million of NewMarket’s outstanding common stock effective
January 1, 2019 until December 31, 2021, as market conditions warrant
and covenants under our existing debt agreements permit. NewMarket may
conduct the share repurchases from time to time in the open market at
prevailing market prices, in privately negotiated transactions, through
block trades or pursuant to any trading plan that may be adopted in
accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The
repurchase program does not require NewMarket to acquire any specific
number of shares and may be terminated or suspended at any time.

This new authorization replaces NewMarket’s prior share repurchase
program, which expires on December 31, 2018.

NewMarket Corporation, through its subsidiaries Afton Chemical
Corporation and Ethyl Corporation, develops, manufactures, blends, and
delivers chemical additives that enhance the performance of petroleum
products. From custom-formulated additive packages to market-general
additives, the NewMarket family of companies provides the world with the
technology to make engines run smoother, machines last longer, and fuels
burn cleaner.

Some of the information contained in this press release constitutes
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Although NewMarket’s management believes
its expectations are based on reasonable assumptions within the bounds
of its knowledge of its business and operations, there can be no
assurance that actual results will not differ materially from

Factors that could cause actual results to differ materially from
expectations include, but are not limited to, the availability of raw
materials and distribution systems; disruptions at manufacturing
facilities, including single-sourced facilities; the ability to respond
effectively to technological changes in our industry; failure to protect
our intellectual property rights; failure to attract and retain a
highly-qualified workforce; hazards common to chemical businesses;
competition from other manufacturers; sudden or sharp raw material price
increases; the gain or loss of significant customers; the occurrence or
threat of extraordinary events, including natural disasters and
terrorist attacks; risks related to operating outside of the United
States; the impact of fluctuations in foreign exchange rates; an
information technology system failure or security breach; political,
economic, and regulatory factors concerning our products; current and
future governmental regulations; resolution of environmental liabilities
or legal proceedings; our inability to realize expected benefits from
investment in our infrastructure or from recent or future acquisitions,
or our inability to successfully integrate recent or future acquisitions
into our business; and other factors detailed from time to time in the
reports that NewMarket files with the Securities and Exchange
Commission, including the risk factors in Item 1A. “Risk Factors” of our
2017 Annual Report on Form 10-K, which is available to shareholders upon

You should keep in mind that any forward-looking statement made by
NewMarket in the foregoing discussion speaks only as of the date on
which such forward-looking statement is made. New risks and
uncertainties arise from time to time, and it is impossible for us to
predict these events or how they may affect the Company. We have no duty
to, and do not intend to, update or revise the forward-looking
statements in this discussion after the date hereof, except as may be
required by law. In light of these risks and uncertainties, you should
keep in mind that the events described in any forward-looking statement
made in this discussion, or elsewhere, might not occur.


Brian D. Paliotti
Phone: 804.788.5555
Fax: 804.788.5688
[email protected]