May2018LenderPresentationCoviaUniminandFairmountSantroltoCreateFiledbyUniminCorporationPursuanttoRule425undertheSecuritiesActof1933anddeemedfiledpursuanttoRule14a-12undertheSecuritiesExchangeActof1934SubjectCompany:FairmountSantrolHoldingsInc.(CommissionFileNo.001-36670)

DisclaimerandForwardLookingStatementsCAUTIONARYSTATEMENTREGARDINGFORWARD-LOOKINGINFORMATIONThispresentationcontainsstatementswhich,totheextenttheyarenotstatementsofhistoricalorpresentfact,constitute“forward-looking”statementswithinthemeaningofSection21EoftheSecuritiesExchangeActof1934,asamended,andthePrivateSecuritiesLitigationReformActof1995.Allforward-lookingstatementsinvolverisksanduncertaintiesthatmaycauseactualresultstodiffermateriallyfromthoseexpressedorimpliedintheforward-lookingstatements.ImportantfactorsthatcouldcauseactualresultstodiffermateriallyfromthoseanticipatedorimpliedinforwardlookingstatementsaredescribedintheregistrationstatementonFormS-4filedbyUniminCorporation(“Unimin”)under"RiskFactors,"andinFairmountSantrol’sForm10-Kundertheheading“CautionaryStatementRegardingForward-LookingInformation”,aswellastheinformationincludedinFairmountSantrol’sCurrentReportsonForm8-Kandotherfactorsthataresetforthinmanagement’sdiscussionandanalysisofFairmountSantrol’smostrecentlyfiledreportswiththeSecuritiesandExchangeCommission(“SEC”).Additionalimportantfactorsthatcouldcauseactualresultstodiffermateriallyfromthoseindicatedbyforward-lookingstatementsincluderisksanduncertaintiesrelatingto:theproposedtransaction(the“merger”)withUniminnotbeingtimelycompleted,ifcompletedatall;ifthemergeriscompleted,theimpactofanyundertakingsrequiredbythepartiesinordertoobtainregulatoryapprovals;priortothecompletionofthemerger,Unimin’sand/orFairmountSantrol’srespectivebusinessesexperiencingdisruptionsduetotransaction-relateduncertaintyorotherfactorsmakingitmoredifficulttomaintainrelationshipswithemployees,businesspartnersorgovernmentalentities;theindustrymaybesubjecttofutureregulatoryorlegislativeactionsthatcouldadverselyaffectUnimin’sand/orFairmountSantrol’srespectivebusinesses;andthepartiesbeingunabletosuccessfullyimplementintegrationstrategies.WhileUniminand/orFairmountSantrolmayelecttoupdateforward-lookingstatementsatsomepointinthefuture,UniminandFairmountSantrolspecificallydisclaimanyobligationtodoso,evenifestimateschangeand,therefore,youshouldnotrelyontheseforward-lookingstatementsasrepresentingourviewsasofanydatesubsequenttotoday.AdditionalInformationFAIRMOUNTSANTROLSTOCKHOLDERSAREENCOURAGEDTOREADTHEPROXYSTATEMENT,DATEDAPRIL26,2018,FORTHESPECIALMEETINGOFFAIRMOUNTSANTROLSTOCKHOLDERSSCHEDULEDTOBEHELDONMAY25,2018ASFILEDWITHTHESECONSCHEDULE14AANDTHEUNIMINREGISTRATIONSTATEMENTANDANYOTHERRELEVANTDOCUMENTSFILEDWITHTHESEC,INCLUDINGTHEPROXYSTATEMENT/PROSPECTUSTHATISPARTOFTHEREGISTRATIONSTATEMENTBECAUSETHEYCONTAINIMPORTANTINFORMATIONABOUTTHEMERGER.Thefinalproxystatement/prospectuswillbemailedtostockholdersofFairmountSantrol.InvestorsandsecurityholderswillbeabletoobtainthedocumentsfreeofchargeattheSEC’swebsite,www.sec.gov,orfromFairmountSantrolatitswebsite,www.FairmountSantrol.com.ParticipantsinSolicitationFairmountSantrolanditsrespectivedirectorsandexecutiveofficersmaybedeemedtobeparticipantsinthesolicitationofproxiesinrespectoftheproposedmerger.InformationconcerningFairmountSantrol’sparticipantsissetforthintheproxystatement,datedApril6,2017,forFairmountSantrol’s2017AnnualMeetingofstockholdersasfiledwiththeSEConSchedule14A.Additionalinformationregardingtheinterestsofsuchparticipantsinthesolicitationofproxiesinrespectoftheproposedmergerisincludedintheregistrationstatementandproxystatement/prospectusandotherrelevantmaterialsfiledwiththeSEC.

DisclaimerandForwardLookingStatements(cont’d.)NoteonCombinedCompanyDataThecombinedcompanyinformationincludedinthispresentationhasbeenpreparedbasedonthearithmeticsumofthehistoricalresultsofFairmountSantrolandUnimin,andwasnotpreparedinaccordancewithRegulationS-XoftheSEC’srulesforproformafinancialinformation,andyoushouldthereforenotplaceunduerelianceonthisinformation.ForapresentationofthecombinedcompanyresultsfortheyearendedDecember31,2017,onaproformabasis,preparedinaccordancewiththeproformarequirementsofRegulationS-X,seeUnimin’sFormS-4whichhasbeenfiledwiththeSEC.FinancialForecastsTheinformationcontainedhereinincludescertainfinancialforecasts,statements,estimatesandprojections(collectively,the“financialforecasts”)withrespectto,amongothermatters,anticipatedfutureperformanceofFairmountSantrolandUniminandanticipatedindustrytrends.Thesefinancialforecastsareinherentlybasedonvariousestimatesandassumptionsthataresubjecttothejudgmentofthosepreparingthem.Thesefinancialforecastsarealsosubjecttosignificanteconomic,competitive,industryandotheruncertaintiesandcontingencies,allofwhicharedifficultorimpossibletopredictandmanyofwhicharebeyondthecontrolofFairmountSantrolandUnimin.Therecanbenoassurancethatthesefinancialforecastswillberealizedorthatactualresultswillnotbesignificantlyhigherorlowerthanforecasted.Thefinancialforecastscovermultipleyearsandbecomesubjecttogreateruncertaintywitheachsuccessiveyear.Inaddition,thefinancialforecastsalsoreflectassumptionsthataresubjecttochangeanddonotreflectrevisedprospectsforFairmountSantrol’sandUnimin’sbusinesses,changesingeneralbusinessoreconomicconditionsoranyothertransactionoreventthathasoccurredorthatmayoccurandthatwasnotanticipatedatthetimethefinancialforecastswereprepared.ThefinancialforecastswerenotpreparedwithaviewtowardpublicdisclosureortowardcomplyingwithU.S.GAAP,thepublishedguidelinesoftheSECregardingprojectionsandtheuseofnon-GAAPmeasuresortheguidelinesestablishedbytheAmericanInstituteofCertifiedPublicAccountantsforpreparationandpresentationofprospectivefinancialinformation.Asaresult,theinclusionofthefinancialforecastsinthisdocumentshouldnotbereliedonasnecessarilypredictiveofactualfutureeventsorresults.NoneofUnimin,FairmountSantrolortheirrespectiveaffiliates,advisors,officers,directorsorotherrepresentativescanprovideanyassurancethatactualresultswillnotdifferfromthefinancialforecastspresentedherein.NoneofUnimin,FairmountSantrolortheirrespectiveaffiliates,advisors,officers,directorsorrepresentativeshasmadeormakesanyrepresentationregardingthecombinedcompany’sultimateperformancecomparedtotheinformationcontainedinthefinancialforecastsorthatforecastresultswillbeachieved.

TableofContentsIntroductionPg.5MergerRationale&CoviaOverviewPg.10SibelcoOverviewPg.14UniminOverviewPg.17FairmountSantrolOverviewPg.22CreditHighlights&CoviaBusinessOverviewPg.27FinancialOverviewPg.43IndustryUpdatePg.47TransactionOverviewPg.54AppendixPg.58132567489A

Section1IntroductionCovia

ManagementParticipantsKurtDecatChiefFinancialOfficerJennifferDeckardPresident,ChiefExecutiveOfficer(1)CoviaAndrewEichExecutiveVicePresident,ChiefFinancialOfficer(2)CoviaNote:Covia(NYSE:CVIA)referstotheCombinedCompanyfollowingtheclosingofthemergerTitlereflectsJennifferDeckard’sannouncedCoviaposition;currentlyservesasPresidentandChiefExecutiveOfficerofFairmountSantrolTitlereflectsAndrewEich’sannouncedCoviaposition;currentlyservesasSeniorVicePresidentandChiefCommercialOfficerofUnimin

CoviareferstotheCombinedCompanyfollowingtheclosingofthemergerExcludesUnimin’shighpurityquartzbusiness,whichwillbedistributedtoSibelco.LTMQ1‘18ProFormaAdjustedEBITDAreflectspreliminaryUniminestimatesfortheLTMperiodended3/31/2018.CoviaLTMQ1‘18ProFormaAdjustedEBITDA,excludingsynergies,reflectsmidpointofestimatedrangeof$550Mto$553MIncludestargetedsynergiesofapproximately$150MReflectsproformabalancesheetasof3/31/2018AsofCOB12/8/2017(measurementdateinthemergeragreement)OnDecember11,2017,FairmountSantrol(NYSE:FMSA)andUnimin,awhollyownedsubsidiaryofSCR-SibelcoNV(“Sibelco”),enteredintoadefinitiveagreementtocombineinacashandstocktransactiontoformCovia(NYSE:CVIA)(1)Coviacreatesthenation’slargestandmostdiversifiedproviderofspecialtysandstoboththeenergyandindustrialendmarkets>50Mtonsofannualprocessingcapacityand~1,370Mtofmineralreservesservingover2,000customersAssetportfolioincludessomeofthelargestandlowestcostminesintheindustrywithanextensiveandflexiblenationwideraillogisticsandterminalfootprintThemajorityshareholder,Sibelco,isaglobaldiversifiedindustrialmineralscompanyandalong-termshareholderSibelcowillown~65%ofCovia;existingFairmountSantrolshareholderswillowntheremaining~35%Strongfreecashflowgenerationthrough-the-cycledrivesflexibilityincapitalallocation,includingrapiddeleveragingofbalancesheetLarge,stableIndustrialbusinessaccountsfor~36%ofgrossprofitQ1‘18LTMProFormaAdjustedEBITDAof~$551M(2)(~$701Mincludingrun-ratesynergies)(3)Financing&ClosingInsupportofthetransaction,BarclaysandBNPwillarrange$1.85BnofSeniorSecuredCreditFacilities,includinga$200MRevolvingCreditFacility(the“Revolver”)anda$1.65BnSeniorSecuredTermLoan(the“TermLoan”)2.9xNetDebt/LTMQ1‘18ProFormaAdjustedEBITDA(pre-synergies);2.3xpost-synergies(2)(3)(4)NetproceedswillbeusedtofinancethemergerofFairmountSantrolandUniminandtorefinanceexistingindebtednessCoviaremainscommittedtofurtherdeleveragingitscapitalstructure,reducingoveralldebtandimprovingliquidityoverthenext12months;within2018,anticipateNetDebt/ProFormaAdjustedEBITDAof~2x,excludingsynergiesProformaforthetransaction,Moody’sandS&PhaveprovidedratingsofBa3/BBCorporateFamilyandBa3/BB(RR3)SeniorSecuredwithstableoutlookfrombothagenciesThemergerisexpectedtocloseinMid-2018,subjecttotheapprovalofFairmountSantrolshareholders,thereceiptofregulatoryapprovalsandothercustomaryclosingconditions26%ofFairmountSantrolshareholdershaveenteredintovotingagreementssupportingthemerger(5)U.S.anti-trustapprovalreceivedMarch13,2018,Mexicananti-trustapprovalispendingTransactionOverview

Sources,Uses&ProFormaCapitalizationSources&UsesCurrentandProFormaCapitalization~$701MofLTMQ1‘18PFAdj.EBITDA(3)(4)~$506MofPF‘17FCFBeforeDebtService(5)Within2018,anticipateNetLeverageof~2x,excludingsynergiesSource:Unimin’sFormS-4andCompanyFilingsUnimincashbalanceproformaforHPQcarveoutFMSAmarketcapitalizationasof5/4/2018.Unimin’smarketcapitalizationbasedon~65%proformaCoviaownershipExcludesUnimin’shighpurityquartzbusiness,whichwillbedistributedtoSibelco.LTMQ1‘18ProFormaAdjustedEBITDAreflectspreliminaryUniminestimatesfortheLTMperiodended3/31/2018.UniminLTMQ1‘18ProFormaAdjustedEBITDAreflectsmidpointofestimatedrangeof$295Mto$297MandCoviafigures,includingsynergies,reflectmidpointofestimatedrangeof$700Mto$703MIncludes$150Mofadjustmentsforexpectedannualsynergies;seeappendixforreconciliationofNetIncometoAdjustedEBITDAforUniminandFairmountSantrolSeepage40for2017AFreeCashFlowBeforeDebtServicereconciliation

CoviaOrganizationalStructure~35%~65%New$200MRevolverNew$1.65BnTermLoanExistingShareholders100%Covia(NYSE:CVIA)OperatingAssetsCoviaOrganizationalStructure

Section2MergerRationale&CoviaOverviewCovia

KeyCreditHighlightsLongstanding,Blue-ChipCustomerBaseAleadingassetfootprintandnationallogisticsnetworkservingblue-chipcustomersacrossendmarketsBroadandloyalcustomerbasewithveryhighrenewalratesand>2,000totalcustomers4StrongCreditProfileandSignificantCashFlowGenerationResilientbusinessmodelsupportedbydiversificationandsignificant,predictableIndustrialcashflows$150Minachievablesynergiesidentifiedthroughclean-roomapproachwiththird-partyconsultants5StrongManagementTeamwithConservativeLong-TermInvestorExperiencedmanagementteamwithsharedvisionofdiversificationandsustainabledevelopmentSibelco–globalindustrialmineralsleadercommittedtomaintainingaconservativebalancesheet6ALeadingMaterialsSolutionsProviderwithaHighQualityAssetPortfolioCreatesthelargestproviderofindustrialmineralsolutionsandproppantsolutionstotheenergyindustryMostextensivetechnicalandapplicationsexpertiseprovidesunparalleledarrayofsolutionstocustomers2Broad,Low-Cost,AdvantagedDistributionNetworkAleadingnetworkwithaccesstoallmajorraillinesandthemostunittrainaccessiblesitesintheU.S.Low-cost,strategicallylocatedplantswithcomplementaryin-basinfacilitiesandterminalfootprint3DiversifiedEndMarketsandBalancedIndustryExposureBroadportfolioofvalue-addedproductofferingsacrossmultipleindustries,minerals,andgeographiesIndustrialsegmentprovided~40%ofproformavolumesfortheyearendedDecember31,20171Strong,SustainableCompetitiveAdvantages

Industrial40%Energy60%DiverseGeographiesVarietyofMineralsAnIndustryLeaderwithStrong,SustainableCompetitiveAdvantagesCovia–KeyHighlights(1)ComplementarySegmentsDriveValue(1)(3)IndustrialSegmentEnergySegmentSynergiesSignificantAdj.EBITDAThrough-The-Cycle(1)(4)ExcludesUnimin’shighpurityquartzbusiness,whichwillbedistributedtoSibelco.Includestargetedannualsynergiesofapproximately$150MinLTMQ1‘18&2017and$110Min2015&2016IncludestwoPermianminingfacilitiesunderconstructionandtwoinactiveprocessingfacilities2017Afigures;volumesplitbysegmentfortheleftpiechart,revenuesplitforIndustrialsegmentfortwopiechartsontheright;VAPstandsfor“valueaddedproducts”SG&AandothercorporatecostitemsallocatedbyvolumecontributionLTMQ1‘18reflectspreliminaryCoviaPFAdj.EBITDAestimatesfortheLTMperiodended3/31/2018.Coviafigures,includingsynergies,reflectmidpointof$700Mto$703Mrange$MLeaderInSafety~1.4BntonsReservesAccesstoAllMajorClass1Railroads>3,000EmployeesBroadMineral&Value-AddedProductPortfolioDiverseEndMarkets>50MtTotalCapacity(2)2017PFAdj.EBITDA:$615M$94OperatingTerminals2017Revenue:$2,255M$>50Plants(2)>2,000Customers(5)

CoviaStrategy:CreatingtheIndustry’sSupplierofChoiceGrowCovia’sCoreBusinessSegmentsIntegrateUnimin&FairmountSantrolRealizeSynergiesDelever&GenerateCashFlowThroughtheCycleIntegrationteaminplaceandpreparingforaquickendstateintegrationandsynergycaptureFocusonensuringseamlesstransitionforallstakeholders–customers,suppliers,employees,investorsandcommunitiesOrganizationdesignutilizesleadingoperatingmodel,toptalent,andindustrydrivenapproachSubstantialsynergiesexpectedfromintegratingandoptimizingsupplychainsReducecosts,improvemineyields,decreasecycletimesofCovia’srailfleetandoptimizethecombinedfootprint$150Minthird-partyvalidatedsynergiesidentifiedwith$75MexpectedtoberealizedwithintwelvemonthsAdditionalcashflowsynergiesfromcapexoptimization($30-40Moverthreeyears)Significantadditionalsynergiesidentified,includingoperationalimprovements,cross-selling,terminaloptimizationandunittrainupgradesTargetnetleverageof~2xthroughtheoil&gascycleExpecttoachievetargetnotonlythroughAdjustedEBITDAgrowthandsynergyrealizationbutalsofromprincipaldebtrepaymentCoviaanticipatesnetleverageof~2x,excludingsynergiesin2018InherentlylowtaxratefurtherbenefittingfromtaxratereductionsanddepletionallowancesStableandgrowingIndustrialbusinesssupportscashflowgenerationthroughthebusinesscycleUtilizethecollectiveexpertiseandindustryknowledgeofCoviaandSibelcotoidentifyandexecutevalue-accretivetransactions,whilemaintainingaconservativecapitalstructureandabalancedportfoliobetweenIndustrialandEnergyStrongbalancesheetandcashflowgenerationcombinedwithadisciplinedcapitalinvestmentpolicyenablesCoviatoinvestinprojectswithattractiverisk-adjustedreturnsatopportunetimesWorkcollaborativelywithcustomerstogrowIndustrialsbusinessacrossNorthAmericaExpandcapacityatkeylocationstocapitalizeongrowingendmarketsReinvestinexistingproductofferingsaswellasextendproductportfoliothroughidentificationofadjacentmineralsStrengthenanddiversifyproductionfacilities,distributionfootprintandproductofferingsintheEnergysegmentRawfracsandcapacitygrowingfrom~28Mtonsin2017to~35Mtonsin2018Alsoseekingtoaddnewmineralstoportfolioandenhancevalue-addedproductofferingsExpandsupplychainsolutions,value-addedproducts,andoilfieldtotalsolutions

Section3SibelcoOverviewCovia

Sibelco–AGlobalPrivately-OwnedLeaderinOurIndustrySince1872OurVision‘Tobethebestglobalmaterialsolutionscompany:marketdriven,operationallyexcellent,withacompellingculture.’GlobalandTierOneResources(1)Note:Sibelcodataasof2017NorthAmericareflectsSibelco’sUniminoperations,includingthehighpurityquartz(“HPQ”)business;plantsincludeoneminingfacilityunderconstructionandoneinactiveprocessingfacility.PriortoclosingthemergerbetweenUniminandFairmountSantrol,SibelcoandUniminwilleffectacarveoutsuchthattheHPQbusinesswillbespunintoasubsidiaryofSibelcoDiversityInMineralsProducedAnd...QuartzResinCoatedSandSilicaTalcWollastoniteProppantManganeseDioxideMineralSandsNephelineSyeniteOlivineOthersIronOxideLimeLimestoneMagnesiaMagnetiteClay&KaolinCristobaliteDolomiteFeldsparGlassCulletAluminiumTrihydrateBariteBentoniteCalciumCarbonateChromite...EndMarketsServedAgricultureConstruction&EngineeringCeramicsElectronicMining&MetallurgyCoatings&PolymersEnergySports&LeisureGlassNorthAmerica(41%)Plants:40Revenue:USD1.4BnSouthAmerica(4%)Plants:16Revenue:USD133MEurope(38%)Plants:106Revenue:EUR1.2BnPlants:27Revenue:USD252MAsia(7%)Australia(10%)Plants:20Revenue:AUD442M

Sibelco–ResilientPerformance&ConservativeFinancialProfileGroupRevenue(EURMillions)(EURMillions)GroupEBITDALeverage(NetDebt/EBITDA)1.5x1.1x1.8x1.6x1.3x1.9x2.1x1.2xNote:SibelcofinancialspreparedunderIFRSaccounting

Section4UniminOverviewCovia

1970UniminfoundedthroughacquisitionofsilicacompaniesinVirginiaandMinnesota1973SibelcoinvestmentinUnimin(67%)2007AcquiredoperationsinHPQ,microcrystallinefeldspar,nephelinesyenite,ballclay,kaolin,calciumcarbonate,Mexicansilicaandfeldspar2010-2014$1Bninvestmentinoperations(plantsandterminals)toservetheoil&gasindustry2006SibelcoownershipinUniminincreasedto100%Acquiredlimeoperations2018EnergyBusinessIndustrialBusinesspolymercoatingsmetalsindustrialceramicsoil&gasglassconstructionContinuedFocusonStrategicGrowth,whileMaintainingaConservativeFinancialProfile2015–2017financialspreparedunderUSGAAPandproformaforHPQcarveoutPendingmergerwithFairmountSantrolcreatesanindustryleadingproviderofmineral-basedsolutionsUniminhasaLong,SuccessfulOperatingHistory1991-1997EndMarketsTodayUniminHistoricalGrossProfit(1)IndustrialSegmentEnergySegment

Unimin–ALeading,DiversifiedNorthAmericanMineralCompany$$258M$1,295M2017Adj.EBITDA(1)2017Revenue(1)38OperatingTerminalsAccesstoFiveClass1Railroads~33MtCapacity(3)~477MtReserves40Plants(2)LeaderinSafety~2,400EmployeesReflects2017ARevenueandAdjustedEBITDA,proformaforHPQcarveoutIncludesoneminingfacilityunderconstructionandoneinactiveprocessingfacilityIncludesexpansionprojectsatUnimin’sUticaandPermianfacilities10MineralsSoldDiverseEndMarkets

Unimin’sIndustrialBusinessLarge,Resilient,andGrowingBusinessGeneratingStrongCashFlowsHighlyresilientandgrowingbusinessgeneratingstrongcashflowswithannualvolumesalesinexcessof10Mtonsforthelast10yearsOwnedandoperatedprivaterailroadinWestVirginia,NewJersey,VirginiaandMaryland(“Winchester&Western”)furtherenhancesUnimin’sindustrialsupplychainlogisticsKeySegmentHighlights2017HighlightsSilica-freematerialusedtoimprovedurabilityandlowermeltingpointNephelineSyeniteBroadMineralPortfolioOfferingMorethan330ProductsClay&KaolinHighfusiontemperatureandwhiteburningcharacteristicsareparticularlysuitableforwhiteware(china)andporcelainmanufacturingLarge,stableblue-chipcustomerbaseBest-in-classandgeographicallydiverseassetbaseStrategicallylocatedplantsintheUSHighqualityplantsinMexicoCanadiannephelinesyeniteplantbeingmodernizedandexpandedtoservegrowingendmarketsGrossProfit$181MTonsSold12.1M$639MRevenueHigh-PuritySandsHigh-qualitysilicasandforO&GandIndustrialsegmentsFeldsparCriticalmineralintheproductionofglassandceramicsusedtoimprovedurabilityandlowermeltingpointLimeLime(quicklimeandhydratedlime)andlimestoneusedtoremoveimpuritiesandadjustfinalchemistry

Unimin’sEnergyBusinessALeadingSupplierofProppantstotheO&GSegmentsWellCementingAdditivesGravelPackingSandProductHighlightsHighqualityreservesproducemonocrystallinesilicagrainsthatarespherical,strongerandhavesuperiorparticlesizedistribution(withinAPIspecifications)LowerfinesandturbidityReadilyavailablethankstoourscaleanddeliveryinfrastructureSelectFlagshipPlantsSuperiorresin-coatedUNIFRAC®productsEngineeredhybridproductencompassingprecuredstrengthperformanceandreliableflowbackcontrolSuperiorcrushstrengthupto20,000psiOnlycoatedonpremiumUNIFRAC®substratesComprehensiveportfolioofAPIqualityquartzproppants,resincoatedsands,cementingadditives,gravelpackingmedia,anddrillingmudadditivesAvailableworldwide,theseengineeredproductsoptimizedrillingoperationsandcompletionstoensurewellintegrityandmaximizefractureconductivityApplicationsincludedrilling,cementing,stimulation(hydraulicfracturing),productionCrane,TXCapacity:3.0MtReserves:31.0MtTransport:In-basinTunnelCity,WICapacity:3.2MtReserves:71.0MtTransport:CanadianPacific2017HighlightsRawSandCoatedSandDrillingProductsGrossProfit$182MTonsSold11.2M$656MRevenueResinSandNorthernWhiteTexasBrown

Section5FairmountSantrolOverviewCovia

FairmountSantrol–ALeadingProviderofSilica-basedProducts$$206M$960M2017Adj.EBITDA2017Revenue56OperatingTerminalsAccesstoFourClass1Railroads~21MtofSandCapacity(1)~893MtReserves12SandPlants(1)CommitmenttoPeople,Planet&Prosperity~1,000EmployeesWideVarietyofHighPerformance,HighQualitySand-BasedandValue-AddedProductsIncludesKermit,TexasfacilityinprocesstoopenQ2201812Value-AddedPlants

AFullyIntegratedI&RProductsSolutionsProviderDiversebaseof>800customersandmultipleproductlinescontributetothemoresteadydynamicsofI&RProducts/CharacteristicsTargetEndMarkets99.9%puresilicaEngineeredsand-basedresinproductsExpertcustomblendsofsand,aggregates,minerals,colorantsandothermaterialsTraditionalfoundryresinsystems&proprietaryresinsforadvancedresin-coatedproppantsBuildingProductsFoundriesGlassManufacturingGolfCoursesWaterFiltrationFoundriesBuildingProductsSpecialtyProductsSports&Recreation-ColoredPlaySand-SportsTurfFoundriesHIGH-PURITYSANDSENGINEEREDRESIN-COATEDSANDSCustomBlendingHigh-performanceResinSystemsContinuedFocusonShiftingSalesMixTowardsHigherMarginValue-AddedProductsTonsSoldGrossProfitpertonGrossProfit2014A2.4M$17.1$42M2015A2.3M$19.4$45M2016A2.5M$19.5$49M2017A2.5M$22.6$56MCAGR(1)0.7%9.7%2017ARevenueByProduct34%66%RawSandValueAddedReflects2014A–2017ACAGR10.4%

EnergyProductstoAddressAllWellEnvironmentsRawsandTier1,APINWS99.8%puresilicaNorthernWhiteSilicaSandsTier2,APIRegionalsand(Voca)TexasGold®FracSandPermianRegionalsand(Kermit)PermianSandIncreases:ReservoirRecovery–BothIP&EUR(byoptimizingwellgeometry)&OperationalEfficienciesPropelSSP®TransportTechnologyFlowbackProtectionStrengthIncreasedHighestHighestIncreasedCurableResin-coatedsandPrecured(Tempered)ValueAddWellProductivity2017AProppantRevenue:$835MRawProppantValue-AddedProppant2017AProppantVolumes:10.3MtRawProppantValue-AddedProppantValue-AddedProductsEnhanceMarginContribution8%92%22%78%

UniminComplementsAllKeyFairmountSantrolValueDriversü+üüüüüTechnology&InnovationAleaderinproppanttechnologyandinnovationwithlargestportfolioofresin-coatedproductsandPropelSSP®BroadProductPortfolioBroadsuiteofproductofferingsacrossmultipleindustries,mineralsandgeographiesOperationalScale&EfficienciesAbilitytoadjustproductionmixbygradetobettermeetdemandAbilitytoshiponmultipleClass1raillinesandserveallkeybasinsValue-EnhancingLogisticsExtensivedistributionandunittraincapabilitiesreducein-basincostandincreaseeffectiveutilizationCommitmenttoPeople,Planet&ProsperityLong-termvaluecreationdrivenbysimilarcorevalues,includingacommitmenttothethreepillarsofsustainabledevelopmentCombinationProvidesDiversityinBothEndMarketsServedandMineralsThecombinationcreatesauniquelydiversifiedbusinessplatformwithhighqualityassets,abroadrangeofcomplementaryproducts,andaresilientindustrialposition

Section6CreditHighlights&CoviaBusinessOverviewCovia

BasedonLTMQ1‘18ProFormaAdjustedEBITDA,whichreflectspreliminaryLTMAdjustedEBITDAasof3/31/2018andincludestargetedsynergiesofapproximately$150MAleadingsupplychainnetworkinNorthAmericawithadvantageddistributionStrategicallylocatedfacilitiesandterminalsservekeyoil&gasbasinsandarelocatedincloseproximitytokeyindustrialcustomers,providinganunmatched,low-costandhighlyflexiblesupplychainforCovia’scustomersMostunittrainaccessiblesitesandorigincapacityintheU.S.Large-scaleterminalnetworkwithmorethan20,000railcarsand94terminalsacrossallmajorClass1railroadsservingblue-chipenergyandindustrialcustomersBroad,Low-Cost,AdvantagedDistributionNetwork3AleadingassetfootprintandnationallogisticsnetworkallowsCoviatoserveblue-chipcustomersacrossendmarketsBroadandloyalcustomerbasecomprisedofS&P500andindustry-leadingcompaniesLongstanding,Blue-ChipCustomerBase4DiversificationprovidesresilientbusinessmodelwithstrongcashflowStableIndustrialbusinessprovidessignificantcashflowgenerationindependentoftheenergycycleModestProFormaNetLeverageof2.3xat3/31/2018,includingsynergies(1)In2018,anticipateNetDebt/ProFormaAdjustedEBITDAof~2x,excludingsynergiesSubstantialidentifiedsynergiesof~$150MfromintegrationandoptimizationofthesupplychainaswellasG&Aandprocurementsavings;committedtodeleveringandmaintainingaconservativecreditprofilepostintegrationStrongCreditProfileandSignificantCashFlowGeneration5ManagementteamconsistingofleadingexecutivesfromeachofUniminandFairmountSantrolwithsignificantexperienceSibelcoisthemajoritystockholderandisagloballeaderinindustrialminerals,withamulti-mineralproductofferingatover200facilitiesinmorethan40countriesandacommitmenttomaintainingaconservativebalancesheetStrongManagementTeamwithConservativeLong-TermInvestor6CombinationcreatesthelargestindustrialmineralsproducerinNorthAmericaOver50processingandcoatingfacilitieswithtotalprocessingcapacityofover50Mtonsandapproximately1.4BntonsofmineralreservesExtensiveanddistinctassetbase,includinglow-costNorthernWhitesandfacilities,twoin-basinfacilitiesinthePermianandthelargestnephelinesyenitedepositinNorthAmericaAleaderinsalesofrawfracsandandresincoatedproppantstotheoilandgasindustry,aswellasinsalestoglass,foundryandcoatingandpolymersproducersALeadingMaterialsSolutionsProviderwithaHighQualityAssetPortfolio2KeyCreditHighlightsBroadproductofferingsacrossmultipleindustries(includingglass,coatings,ceramics,constructionandfoundry),minerals(includingsilica,nephelinesyenite,feldsparandclays),value-addedproducts(includingmicronizedminerals,coatedmaterials,customblending)andgeographies(primarilyU.S.,CanadaandMexico)FortheyearendedDecember31,2017,Coviageneratedapproximately40%ofitsvolumeintheIndustrialsegmentandapproximately60%ofitsvolumeintheEnergysegmentonaproformabasisDiversifiedEndMarketsandBalancedIndustryExposure1

BalancedindustrialmineralsandproppantsproductionwithdiverseofferingsandcustomersegmentsdrivingprofitabilityDiversifiedandBalancedEndMarketExposure1CoviaVolume;tonsinmillions,LTM(12/31/2017)TotalCoviaGrossProfit;2015A–2017AAverageSalesVolumesBalancedProfitabilityThroughtheCycleIndustrialSegmentEnergySegment81%19%52%48%60%40%IndustrialSegmentEnergySegmentCoviaCovia

Covia’sMineralsServeaWideVarietyofIndustries1SilicaNephelineSyeniteFeldsparOlivineClay&KaolinCeramicsüLimeCoatedProductsDustShieldGlassüFiltrationüColoredPlaySandCustomBlendingCoatings&PolymersüSports&RecreationüResinSystemsMetals&CastingsüOil&GasüüConstructionüüüüüüüüüüüüüüüüüüüüüüüüüüüüüüüüDiversityacrossmineralsandendmarketsprovidesresilientperformance,avenuesofgrowthandadditionalsynergyopportunities

2017AReserves(1)Source:Unimin’sFormS-4andCompanyFilingsNote:SLCAfiguresarenotproformafortheacquisitionofEPMineralsannouncedon3/22/2018duetolackofdiscloseddataReflectsprovenandprobablereservesforallcompaniesexceptHCLPandSND,whichreportprovenreservesonlyExcludesUnimin’shighpurityquartzbusiness,whichwillbedistributedtoSibelco;2017AAdjustedEBITDAincludestargetedsynergiesofapproximately$150M;seeappendixforreconciliationofNetIncometoAdjustedEBITDAforUniminandFairmountSantrol2017AVolumes2017AAdjustedEBITDA(2)LeadingSize&Scale22017ARevenues(2)

CoviaPlatformHasALeadingOperationalFootprintIncludestwoPermianminingfacilitiesunderconstructionandtwoinactiveprocessingfacilitiesNote:Locationsrepresentedasaccuratelyaspossible,indicativeonlyFootprintofmorethan50processing&coatingplantsacrossNorthAmerica(1)Accesstoallmajorrailwaysservingmajoroil&gasbasinsWell-positionedIndustrialbusinessingrowingSoutheasternU.S.andMexicanendmarketsFlexibilitytoadapttoshiftsindemandbetweenEnergyandIndustrialsMexicoCanada2PlantsPlantsComplementaryandDiversifiedAssetFootprintServingtheU.S.,Canada,andMexico

BroadandComplementaryDistributionNetwork3TerminalsTerminalsMexicoCanadaCanadianPacificBNSFCSXCNExcludesin-basinplantsIncludesO&GandIndustrialNote:Assetsandselectedraillinesrepresentedasaccuratelyaspossible,indicativeonlyBroadBased,Low-CostandHighlyFlexibleSupplyChainNetworkwithUnitTrainCapabilitiesandIntrinsicTransportationAdvantagesAccesstoallmajorClass1railwaysservingmajoroil&gasbasins>75%ofCovia’scapacitycomesfromunittraincapablefacilities(1)Extensiveterminalnetworkwith94terminalsacrossUSandCanada(2)FlexibilityinsourcingproductisakeyconsiderationforcustomersUnionPacific

Railcapacitiesreflectprimaryrailservingfacilities;regionalcapacitiesreflecttruckingandbargeUniminfiguresincludeownedandexclusivelycontrolledterminalsaswellasexpansionscurrentlyunderway,butexclude3rdpartyterminalsutilizedCombineddistributionnetworkhasaccesstoallmajorClass1railroadsCombinedterminalnetworkincreasesthroughputcapacityandnetworkflexibilityIncreasedunittrainterminalsallowformoreeffectiveandefficientshipmentstobetterservecustomersAnnualOil&GasTerminalThroughputCapacity(Mt)(2)HighlyComplementaryLarge-ScaleTerminalNetworkProppantRailandRegionalCapacity(1)AccessToMajorRailLines–EnhancesFlexibilityandDiversityRegionalRegionalRegionalCoviaCoviaDiversified,Strong&HighlyComplementaryLogisticsNetwork3

FairmountcostadvantagetotheDJUnimincostadvantagetotheBakkenIllustrativefiguresbasedonpublictariffratesPlantswithsimilardistancesshippingtothesameplaycanhavevastlydifferenttransportationcostsbasedonoriginrailratestructuresCommentaryRatesbetweensimilarlanescanvaryupto$13pertontothesamedestinationFurtherfreightreductionsthrougheliminationof2-linehaulsortruck-to-railtransportProductionoptimizationwillalsoimprovemineyieldsandlowerplantcosts(~$3-10pertonsavings)CaseStudy(1)Origin/DestinationPairings:IllustrativeSynergyExample

SelectedIndustrialCustomersLongstanding,Blue-ChipCustomerBaseSelectedEnergyCustomers4AleadingassetfootprintandnationallogisticsnetworkallowsCoviatoserveblue-chipcustomersacrossendmarketsBroadandloyalcustomerbasecomprisedofS&P500andindustry-leadingcompaniesLong-standingrelationshipswithveryhighrenewalratesdrivenby:CommitmenttoqualityandreliabilityascriticalsuppliertocustomeroperationsCloseintegrationwithcustomeroperations>2,000(1)TotalCustomers>75%ofTonsSoldtoContractedCustomersReflectspreliminaryestimateofCovia’sconsolidatedtotalcustomers.Unimincurrentlyservesmorethan1,400Industrialcustomersandapproximately1,500totalcustomers.FairmountSantrolcurrentlyhasover75Energycustomersandover830customersacrossallendmarkets

IndustrialMineralsAttributesCoviahasstronggrossprofitmarginsrelativetolistedindustrialpeersHighlyresilientindustrialbusinessdeliversmuchlessvolatilitythantheproppantindustryCoviaHasaStableandProfitableIndustrialBusinessResilientandpredictableearningsandcashflowprofileDiversityincustomers,industries,geographies,andmineralsProductdifferentiationthroughperformanceandspecification,ratherthancostCloseandlongstandingcustomerrelationshipsExpectedgrowthinexcessofGDPfromnewproducts,innovation,geographicexpansion,andconsumertrendsAverage2015A–2017AGrossProfitMargin(%)PredictableandConsistentlyStrongProfitabilityIndustrialvolumesareinsulatedfromOil&GascyclesandunderpinnedbystablegrowthStableHistoricalIndustrialVolumes(1)Note:FiguresreflectCovia’sIndustrialsbusinessonly;excludesEnergysegmentExcludesvolumesfromsoldassets5

ResilientCashFlowGenerationThrough-the-Cycle5Covia’sSignificantAdjustedEBITDAThrough-The-Cycle(1)(2)(3)EnergySegmentIndustrialSegmentSynergiesExcludesUnimin’shighpurityquartzbusiness,whichwillbedistributedtoSibelco;includestargetedsynergiesofapproximately$150Min2017&LTMQ1‘18and$110Min2015&2016SG&AandothercorporatecostitemsallocatedbyvolumecontributionSeeappendixforreconciliationofNetIncometoAdjustedEBITDAforUniminandFairmountSantrolLTMQ1‘18ProFormaAdjustedEBITDAreflectspreliminaryUniminestimatesfortheLTMperiodended3/31/2018.Covia’sfigures,includingsynergies,reflectmidpointofestimatedrangeof$700Mto$703MCoviatobefurthersupportedbysubstantialsynergyrealizationIndustrialbusinessprovidesresilientEBITDAbasethroughthebusinesscycle(4)

SubstantialSynergiesIdentifiedandWellDocumentedImmediateandSubstantialSynergiesExpectedatLowImplementationCosts(1)Origin-DestinationPairingOptimizationAccountConsolidationProcurementSG&ATargetedsynergiesofapproximately$150Mannually50%ofsynergiesexpectedwithin12monthsandfullrun-rateachievedwithin24monthsAdditionalsynergiesfromcapexoptimizationof$30-40MoverthreeyearsStrongpotentialforincrementalsynergiesnotincludedin$150MIdentifiedoperationalimprovementsCrossselling(Industrial+Energy)IdentifiedterminalsoptimizationandunittrainupgradesSynergyestimatesdevelopedthroughthirdpartyconsultant,incorporatingsignificantin-basincapacitybuild5Synergysplitbasedonyear2run-rateannualestimatesbycategoryRigoroussynergyanalysisperformedbyleadingconsultantsovertwomonthsincleanroomsetting$150MofRun-RateAnnualSynergies

Proformaliquidityof~$254Mwith$200MofRevolveravailabilityundrawnatcloseand$54Mofcash(1)Nootherfundeddebtornear-termmaturitiesDisciplinedfinancialpolicycommittedtomaintainingaconservativebalancesheetTargetaveragenetleverageof~2xthroughthecycleStrongBalanceSheetSupportingAmpleLiquidityStrongFinancialPositionSignificantFreeCashFlowBeforeDebtService5Basedonbalancesheetasof3/31/2018Includes$150MofadjustmentsforexpectedannualsynergiesCashtaxesperS-4filing,excludingproformaadjustmentsandimpactofanticipatedsynergies.PFLTMQ1‘18reflectspreliminaryestimatesforLTMAdjustedEBITDAasof3/31/2018.Coviafigures,includingsynergies,reflectmidpointofestimatedrangeof$700Mto$703MProFormaNetLeverage(1)(2)(2)($M)(4)(3)

BestinClassManagementTeamwithExtensiveIndustryExperienceYearsofIndustryExperiencePriorPositions~24PresidentandChiefExecutiveOfficerofFairmountSantrolsince2013PreviouslyservedasVicePresidentofFinanceandCFO,CorporateController,andAccountingManagerofFairmountSantrol~16SeniorVicePresidentandChiefCommercialOfficerofUniminsinceJune2016PreviouslyservedasChiefFinancialOfficerandVicePresident,Finance&Development/TreasuryofUnimin~25ExecutiveVicePresidentandChiefCommercialOfficerofFairmountSantrolsince2015PreviouslyservedasExecutiveVicePresidentofSupplyChainandI&RSalesandVicePresidentofSalesforI&RatFairmountSantrol~26PresidentandChiefExecutiveOfficerofUniminsince2015andGroupChiefOperatingOfficerofSibelcosince2016PreviouslyservedasManagingDirectorofSibelcoAustraliaLtdandExecutiveGeneralManager/ChiefOperatingOfficerofSibelcoAustraliaLtd~22ExecutiveVicePresidentandChiefPeopleOfficerofFairmountSantrolsince2015PreviouslyservedasSeniorVicePresidentofHumanResourcesforTheSherwin-WilliamsCompanyJennifferDeckardPresident,ChiefExecutiveOfficerAndrewEichEVP,ChiefFinancialOfficerBrianRichardsonEVP,ChiefAdministrativeOfficerGeraldClanceyEVP,ChiefCommercialOfficerCampbellJonesEVP,ChiefOperatingOfficerExperiencedandProvenManagementTeam6

Sibelco–Supportive,Value-AddedandConservativeBusinessPartnerNote:Sibelcodataasof2017Sibelcoisnotalistedcompany;sharesaretradedontheOTCEuronextExpertMarketAleadingglobalproducerofindustrialmineralswithoperationsin>40countriesFoundedin1872andstillprivatelyowned(1)HeadquarteredinAntwerp,BelgiumPresentacrossthevaluechain2017revenuesof€3.1BnandstrongfinancialpositionWidevarietyofminerals&endmarketsStrongtrackrecordofconservative,sustainabledevelopmentAveragenetleverageoflessthan2x,since2010MajorityownerofUniminsince1973(currentlywhollyownedsubsidiary)SibelcowillsupportCoviathroughitsleadingtechnologiesinmineralsprocessing,in-depthknowledgeofglobalendmarketsandexperienceinmanagingindustrialmineralscompaniesCoviawillbenefitfromSibelco’sworldwidesalesforcetodistributeitsproductsonaglobalscalewhiledistributingcertainSibelcomineralsinCovia’skeysegmentsTrackrecordofapplyingthe“SibelcoModel”tonewbusinessesandcreatingvalueforallstakeholders6StrengthThroughDiversityRevenueSplitByGeographyRevenueSplitByMineralRevenueSplitByBusinessUnitSibelco–KeyHighlightsSibelcoandCovia

Section7FinancialOverviewCovia

Conservative,DisciplinedandLiquidity-FocusedFinancialPolicyCovia’sfinancialpolicyistoconservativelymanageleverage,maintainampleliquidityandpursueadisciplinedgrowthstrategyProvenhistoryofmaintainingaconservativebalancesheetKeyphilosophyandobjectiveofSibelcoWithin2018,anticipateNetDebt/ProFormaAdj.EBITDAof~2x,excludingsynergiesTargetleverageof~2xthroughtheoil&gascycleExpecttoachievetargetnotonlythroughAdjustedEBITDAgrowthandsynergyrealizationbutalsofromprincipaldebtrepaymentNodividendorsharebuybackpolicyexpecteduntilthisobjectiveismetCommittedtoDelever&MaintainConservativeBalanceSheetProformaliquidityof~$254M$200Mrevolvingcreditfacilitytosupportliquidityobjectives$54Mofproformacashonhandat3/31/2018CoviaPF2017Afreecashflowgenerationbeforedebtserviceof~$506M(1)InherentlylowtaxratefurtherbenefittingfromratereductionsanddepletionallowancesApproximately$150MoftargetedannualsynergiesStrongpotentialtorealizeincrementalsynergiesnotincludedin$150MStableandgrowingIndustrialbusinesssupportscashflowgenerationthroughthecycleAmpleLiquidityStrongCashFlowGenerationStrongbalancesheetandcashflowgenerationcombinedwithadisciplinedcapitalinvestmentpolicywillenableCoviatoinvestinprojectswithattractiverisk-adjustedreturnsatopportunetimesGrowthunderpinnedbycustomercontractsDisciplinedGrowthStrategySeepage40forreconciliation

CoviaHistoricalFinancialsRevenueGrossProfitAdjustedEBITDA(excl.Synergies)(1)CapitalExpendituresSG&Aandothercorporatecostitemsallocatedbysegmentvolumecontribution;seeappendixforreconciliationofNetIncometoAdjustedEBITDAforUniminandFairmountSantrol

CoviaHistoricalFinancialsKeyFinancialFiguresSource:Unimin’sFormS-4,Companyfilings,andpreliminarymanagementestimatesNote:2015–2017financialspreparedunderUSGAAPPreliminaryCoviaestimatesofresultsforthequartersended3/31/2017and3/31/2018

Section8IndustryUpdateCovia

2018TailwindsinIndustrialEndMarketsIndustrialProduction+3.2%YoYgrowthvs.2.0%in2017(1)ConsumerConfidenceat130.8(2)highestlevelsince2000andabove2017averageof120.52018ConstructionSpendingForecast+4.0%(4)FoundrySpendingGrowth+4.7%vs.2017(3)Industrialprofitabilityaidedbymacrotailwindsand:PricingincreasesMixshifttohigher-marginproductsNote:DataasofMarch2018Source:BloombergConferenceBoardAmericanFoundrySocietyAmericanInstituteofArchitects

StabilityofDemandGDP+Growth?IndustrialEndMarketOverview–DemandCompanyProductsDemandDriversApplicationsGDPConsumerTrendsAutoSilicaNephelineSyeniteContainerFloatFeldsparClay&KaolinDustShieldFiberglassDisplayGlassHousingConstructionConsumerTrendsSilicaNephelineSyeniteSanitarywareTileFeldsparClay&KaolinClayBricksCeramicsConstructionInfrastructureSpendingSilicaNephelineSyeniteClay&KaolinMortarsGroutsLimeCustomBlendingDustShieldCarpetandRoofingConstructionGDPHeavyIndustryAutoSilicaOlivineLimeResinSystemsFoundryCastingsNephelineSyeniteClay&KaolinCoatedProductsCustomerBlendingMetals&CastingsGDPReformulationsFood-GradeMaterialsSilicaNephelineSyeniteClay&KaolinPaintsAdhesivesAntiblockingLimeCoatedProductsCustomBlendingPackagingElectricalCoatings&PolymersGDPRecyclingSilicaNephelineSyeniteTurfLandscapeInfillLimeDustShieldFiltrationEngineeredFieldsGrowthSilicaColoredPlaySandTurfLandscapeInfillCustomBlendingDustShieldBunkerSandSports&Recreationüüüü

+40%ExpectedIncreaseinProppantDemandfor20182018ProppantDemandForecastedtoReach100+MillionTons(vs.~75MillionTonsin2017)U.S.HorizontalLandRigCountHigheraveragerigcountvs.2017Increasingproportionofhorizontalvs.verticalwellsHigherproportionofwellsdrilledactuallycompletedRatioofcompletedwellsvs.drilledwellsexpectedtobeover1.00vs.0.86in2017BakerHughesUShorizontallandrigcountCoviamanagementestimatesbasedonpublicE&Ppresentationsandinternalestimates+PacWestConsultingPartnersIncreasingNumberofWellCompletions(1)4,600-5,0005,600-6,0003,600-4,0006,500-7,000AverageProppantTonsperU.S.HorizontalWellModestlylongerlateralsMorestagesperwellHigherproppantloadingperlateralfootHigherProppantIntensityPerWell(2)

GrowingDemandAcrossAllBasins(Tonsinmillions)100MTonsormorein2018Coarse40/70100Mesh40/70~75MtonsofdemandsuppliedoutsideofthePermianKeyassumptions:50MtonsofPermiandemand35MtonsaveragePermiancapacityin2018(~45Mtonsbyendof2018)2018Permianproduction=80%100mesh,20%40/70100%adoptionoflocalPermiansands(conservativeassumption)*SupplysourceindicatestheregionfromwheresupplyisbeingproducedtomeetdemandandnotindicativeofnameplatecapacitySource:Coviamanagementestimates2017Demand2018EDemand2018ESupplySourcing*100MeshInthePermian,mostof40/70andallcoarsergradeswillbesuppliedfromoutsideofthePermianOversupplyofPermian-produced100meshexpectedExpected2018DemandtobeSuppliedbyBothNorthernWhiteandLocal/RegionalSands

PermianAssetsStrategicallyPlacedtoMeetLocalNeedsCombined6milliontoncapacityTwoplantsincomplementarylocationswithattractivegrademixscheduledtocomeonlineinQ2‘18StrategicallylocatedterminalnetworkCarlsbadHobbsLamesaSnyderBigSpringMidlandOdessaSanAngeloPecosRiver~50-75Miles(1)Note:Locationsrepresentedasaccuratelyaspossible,indicativeonly35mileslineardistance;c.50-75milesbyroaddependingonrouteCoviaPermianProductionbyGrade62%38%UPBNSFTXPF(shortlinetoBN)CoviaTerminalsDrillingActivityCoviaPlantsKermit,TXCapacity:3.0MtReserves:165MtCrane,TXCapacity:3.0MtReserves:31.0Mt

WellSuitedtoMeetDemandAcrossAllBasinsSource:CoviamanagementestimatesOperational&LogisticsFootprintNorthernWhiteSupplierofChoiceinAllBasins~75MtonsNorthernWhiteDemandMix(Permian+RestofNorthAmerica)CoviaIndustryProductionbygradewellbalancedtomeetdemandScale,plantlocationsandterminalnetworkmakeCoviaalow-costsupplierofhighqualitysandsinallbasinsProductionMixOutsideofPermianLogisticsnetworkallowscost-competitivedistributionintoallbasins

Section9TransactionOverviewCovia

SummaryTerms:SeniorSecuredCreditFacilitiesBorrower:UniminCorporation(the“Borrower”)JointLeadArrangers:BarclaysandBNPParibasCorporateRatings:Ba3/BBFacilityRatings:Ba3/BB(RR:3)Facility:RevolverTermLoanAmount:$200,000,000$1,650,000,000Tenor:5years7yearsIndicativeMargin:TBDTBDLIBORFloor:N/A1.00%UpfrontFee/OID:TBDTBDAmortization:None1.00%perannumOptionalPrepayments:None101softcallprotectionfor6monthsUseofProceeds:(i)TorefinancecertainexistingindebtednessofUniminandFairmountSantrol,(ii)togetherwithcashonhand,topaytheconsiderationfortheMergerassetforthintheMergerAgreement,(iii)topayrelatedfeesandexpensesincurredand(iv)generalcorporatepurposesIncrementalFacilities:Thesumof(i)$250Mand(ii)anunlimitedamountupto2.75xTotalNetLeverage,providedthat:Usualandcustomaryforfacilitiesofthistype,withbaskets,reinvestmentrightsandexceptionstobeagreed,including:Nodefaultoreventofdefault50bpsMFNfor12monthsSecurity:SecuredbyaperfectedfirstprioritylienonsubstantiallyalltheassetsoftheBorrowerandeachotherGuarantor,subjecttocustomaryexceptionsExcessCashFlowSweep:50%ofExcessCashFlow,withstepsdownto25%and0%basedonTotalNetLeverageRatio:TBDMandatoryPrepayments:Usualandcustomaryforfacilitiesofthistype,withbaskets,reinvestmentrightsandexceptionstobeagreed,including:100%netcashproceedsdebtissuances(otherthanpermitteddebt)100%netcashproceedsfromnon-ordinarycourseassetsalesand100%ofinsuranceproceeds(subjecttoreinvestmentrights)FinancialCovenants:4.5xmaximumTotalNetLeverageRatio(caponcashnettingof$150M),steppingdownto4.0xat12/31/2018;testedquarterlyNoneNegativeCovenants:Usualandcustomaryfortransactionsofthistype,includingbutnotlimitedtolimitationsonAssetSales,RestrictedPayments,RestrictedDebtPayments,Indebtedness,InvestmentsandLiensIndicativeTermSheet

KeyDatesDateActivityMay3ReleaseFairmountSantrolQ1EarningsMay8BankMeetinginNYCMay22TermLoanCommitmentsDueLateMay/EarlyJuneCloseandFundRevolverandTermLoanSyndicationTimelineMay2018SMTWTFS12345678910111213141516171819202122232425262728293031June2018SMTWTFS123456789101112131415161718192021222324252627282930U.S.MarketHolidayKeySyndicationDateFMSAEarningsDate

Q&ALongstanding,Blue-ChipCustomerBase4StrongCreditProfileandSignificantCashFlowGeneration5StrongManagementTeamwithConservativeLong-TermInvestor6ALeadingMaterialsSolutionsProviderwithaHighQualityAssetPortfolio2Broad,Low-Cost,AdvantagedDistributionNetwork3DiversifiedEndMarketsandBalancedIndustryExposure1Strong,SustainableCompetitiveAdvantages

CoviaAppendix

UniminHistoricalFinancialsUniminrevenuedecreased27%from2015to2016,butsawa33%uptickfrom2016to2017Energy:grossprofitincreasedata25%CAGRfrom2015to2017Experiencedsignificantmomentumin2017withareboundinrigcountandfracsanddemand64%increasein2017volumesascomparedto20162017EnergyASPincreasedrelativeto2016,butdidnotreturntohistoric2015levelsOna$/tonbasis,2017Energygrossprofitwashigherthaneither2015or2016Industrial:revenueandcontributionmarginremainedsteadybetween2015and2017Higher2017volumeswereoffsetbyslightlylowerASP/tonandgrossprofit/tonMD&AKeyFinancialFiguresSource:Unimin’sFormS-4,Companyfilings,andpreliminarymanagementestimatesNote:2015–2017financialspreparedunderUSGAAPPreliminaryUniminestimatesofresultsforthequartersended3/31/2017and3/31/2018

FairmountSantrolHistoricalFinancialsFMSArevenuedecreased35%from2015to2016,butsawa79%uptickfrom2016to2017(‘15–‘17CAGRof8%)FMSAgrossprofitincreasedata17%CAGRfrom2015to2017ProppantSolutions:grossprofitincreasedatan18%CAGRfrom2015to20172017segmentrevenuesandgrossprofitwereimpactedbyhighervolumesandpricing,aswellasgrowthinvalue-addedproppantsales60%increasein2017volumesvs.20162017EnergyASPincreasedrelativeto2016,butdidnotreturntohistoric2015levelsIndustrial&RecreationalProducts:grossprofitincreasedata12%CAGRfrom2015to2017Increasedsegmentrevenuesandgrossmarginasaresultofhigherpricing,reductionsinoperatingcosts,andacontinuedmixshifttowardhigher-marginproductsMD&AKeyFinancialFiguresSource:Unimin’sFormS-4,Companyfilings,andpreliminarymanagementestimates

UniminReconciliationofNetIncome(Loss)toAdj.EBITDAAdjustmentsDescriptionGoodwillandotherassetimpairmentsfor2016representimpairmentchargesforaterminalthatwasclosedandthewritedownofgreenfieldland;goodwillandotherassetimpairmentsfor2015representimpairmentchargesforgoodwill,intangiblesandlong-livedassetsRestructuringandothercontractterminationcostsfor2016include(a)asettlementchargeof$13.3millionforUnimin’sU.S.pensionplan,whichresultedfromarestructuringprogram.(b)$3.0millionchargerelatedtoacontractterminationand(c)$2.7millionofseveranceandofficeclosurecosts;restructuringandothercontractterminationcostsfor2015areexpensesassociatedwithseverance-relatedcostsandplantclosurecostsin2015RepresentscostsincurredinconnectionwiththeproposedcombinationofthebusinessesofUniminandFairmountSantrol2015representslossesrelatedtothecompany’sBrazilianandVenezuelabusinesses,whichweredisposed.2016representsthelossonthesaleofUniminVenezuelaRepresentsoperatingmarginattributabletothehigh-purityquartzbusiness,whichwillbedistributedtoSibelco(2)1234512345Source:Unimin’sFormS-4andCompanyfilingsPreliminaryUniminestimatesofresultsforthequartersended3/31/2017and3/31/2018Assumesanallocationofapproximately$15millionofSG&A

FairmountSantrolReconciliationofNetIncome(Loss)toAdj.EBITDADescriptionRepresentsthenon-cashexpenseforstock-basedawardsissuedtoFMSA’semployeesandoutsidedirectorsNon-cashchargesin2016areassociatedwiththeimpairmentofmineralreservesandotherlong-livedassets;chargesin2015includeda$69.2millionimpairmentofgoodwillintheProppantSolutionssegmentExpensesassociatedwithrestructuringactivitiesandplantclosures,includingpensionwithdrawal,severancepayments,andotherliabilities.Includeslossesrelatedtothesaleanddisposalofcertainassetsinproperty,plant,andequipmentRepresentsthewrite-offofdeferredfinancingfeesinrelationtoatermloanprepaymentin2017,termloanrepurchasesin2016,andtheamendmentofFMSA’sRevolvingCreditFacilityin2015Lossrelatedtotheextinguishmentoftermloansin2017andgainrelatedtothediscountontermloanrepurchasesin2016ExpensesrelatedtotheannouncedMergerwithUnimin;costsincurredinthesecondquarterof$144thousandandinthethirdquarterof$1.3millionwerenotpreviouslydisclosed,astheMergerhadnotyetbeenpublicallyannouncedRepresentslossonthecurtailmentofapensionplanin2016,cashpaymentassociatedwithanauditofFMSA’sEmployeeStockBonusPlanin2015,aswellasexpensesassociatedwithtermloanrepurchasesinbothyearsAdjustments1234567867812345Source:Unimin’sFormS-4,Companyfilings.