Valhi Inc. Watch

from S-8 4 pages Valhi, Inc. 2021 Non-Employee Director Stock Plan

from S-8 2 pages Common Stock Par Value $.01 Common Stock Certificate Number Shares Valhi, Inc. [Valhi, Inc. Logo] Incorporated Under the Laws of the State of Delaware This Certificate Is Transferable in Cities Designated by the Transfer Agent, Available Online at WWW.COMPUTERSHARE.com See Reverse for Certain Definitions This Certifies That Cusip 918905 10 0 Is the Owner of Fully Paid and Non-Assessable Shares of Common Stock of Valhi, Inc. (Hereinafter Called the “Corporation”), Transferable on the Books of the Corporation by the Holder Hereof in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Properly Endorsed. This Certificate Is Not Valid Unless Countersigned by the Transfer Agent and Registrar. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. [Valhi, Inc. Dated [Facsimile Signature] Chief Executive Officer Corporate Seal Countersigned and Registered Computershare Trust Company, N.A. Transfer Agent and Registrar Delaware] [Facsimile Signature] Secretary By: [Facsimile Signature] Authorized Signature Security Instructions on Reverse

from S-3 2 pages Common Stock Par Value $.01 Common Stock Certificate Number Shares Valhi, Inc. [Valhi, Inc. Logo] Incorporated Under the Laws of the State of Delaware This Certificate Is Transferable in Cities Designated by the Transfer Agent, Available Online at WWW.COMPUTERSHARE.com See Reverse for Certain Definitions This Certifies That Cusip 918905 10 0 Is the Owner of Fully Paid and Non-Assessable Shares of Common Stock of Valhi, Inc. (Hereinafter Called the “Corporation”), Transferable on the Books of the Corporation by the Holder Hereof in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Properly Endorsed. This Certificate Is Not Valid Unless Countersigned by the Transfer Agent and Registrar. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. [Valhi, Inc. Dated [Facsimile Signature] Chief Executive Officer Corporate Seal Countersigned and Registered Computershare Trust Company, N.A. Transfer Agent and Registrar Delaware] [Facsimile Signature] Secretary By: [Facsimile Signature] Authorized Signature Security Instructions on Reverse

from SC 13D/A 3 pages Amendment

from S-8 5 pages Valhi, Inc. 2012 Director Stock Plan

from S-8 2 pages Ten Com — As Tenants in Common Unif Gift Min Act — Custodian Ten Ent — As Tenants by the Entireties (Cust) (Minor) Jt Ten — As Joint Tenants With Right of Survivorship and Not as Tenants in Common Under Uniform Gifts to Minors Act (State) Additional Abbreviations May Also Be Used Though Not in the Above List

from 8-K/A ~10 pages Amended and Restated Certificate of Designations, Rights and Preferences of 6% Series a Preferred Stock Pursuant to Section 151 of the General Corporation Law of the State of Delaware

from 8-K 4 pages Certificate of Designations, Rights and Preferences of 6% Series a Preferred Stock Pursuant to Section 151 of the General Corporation Law of the State of Delaware

from SC 13D/A ~5 pages Indenture or similar

from SC 13D/A ~5 pages Securities Pledge Agreement

from SC 13D/A ~5 pages Indenture or similar

from SC 13D/A 1 page Ex-12-Collateral Agmt 12/29/88

from SC 13D/A ~10 pages Pledge Agreement

from S-8 ~10 pages Exhibit to Valhi, Inc. S-8 Filing 5-13-94