Thomas Connolly - 17 May 2019 Form 4 Insider Report for Avantor, Inc. (AVTR)

Footnote F1

These transactions in the common stock (the "Common Stock") of Avantor, Inc. (the "Issuer") have not previously been reported by the Reporting Person on Form 4.

Footnote F2

These transactions were effected by Goldman Sachs & Co. LLC ("Goldman Sachs") acting as agent on behalf of certain international affiliates that had entered into riskless principal trades in connection with client trade facilitation in the ordinary course of their business. Without conceding riskless principal trades in connection with client trade facilitation in the ordinary course of business can result in liability under Section 16(b) of the Securities Exchange Act of 1934 (the "Exchange Act"), the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) has been remitted to the Issuer.

Footnote F3

The Reporting Person is a managing director of Goldman Sachs. Goldman Sachs is a direct subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). Effective May 7, 2020, the Reporting Person ceased to be a member of the Issuer's board of directors.

Footnote F4

As of October 21,2020, Goldman Sachs and GS Group may have been deemed to beneficially own indirectly 43,481,933 shares of Common Stock by reason of direct beneficial ownership of such shares by StoneBridge 2017, L.P., StoneBridge 2017 Offshore, L.P., VWR Partners, L.P., StoneBridge 2018, L.P. and StoneBridge 2018 Offshore, L.P. (together the "GS Funds") and Broad Street Principal Investments, L.L.C. ("BSPI"). Bridge Street Opportunity Advisors, L.L.C. ("Bridge Street") is the sole general partner of each of the GS Funds and may be deemed to beneficially own shares of Common Stock by reason of direct beneficial ownership of such shares by the GS Funds. Bridge Street is an indirect wholly-owned subsidiary of GS Group. Goldman Sachs is the manager of BSPI and Bridge Street, and the investment manager of each of the GS Funds.

Footnote F5

The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Footnote F6

The Series A Mandatory Convertible Preferred Stock (the "Preferred Stock") is convertible into shares of the Issuer's Common Stock. At any time prior to May 15, 2022, holders of the Preferred Stock may elect to convert each share of the Preferred Stock into shares of Common Stock at the minimum conversion rate of 3.0395 shares of Common Stock per share of Preferred Stock.