Earnings release
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CLASSIFICATION : CO - NON - CONFIDENTIAL FOR IMMEDIATE RELEASE Mesaieed Petrochemical Holding Company MPHC reports a net loss of QR 183 million for the six - month period ended 30 June 2026 ■ The Group's revenue reached QR 605 million for the six - month period ended 30 June 2026 . 1H - 26 results were impacted by the on - going regional conflict . ■ Robust liquidity position with closing cash and bank balances¹ amounting to QR 3.2 billion as at 30 June 2026 . Doha , Qatar ; 10 August 2026 : Mesaieed Petrochemical Holding Company ( " MPHC " or " the Group " ; QE ticker : MPHC ) , today announced a net loss of QR 183 million for the six - month period ended 30 June 2026 compared to a net profit of QR 379 million in the previous year . Updates on operational performance Key performance indicators 1H - 26 1H - 25 Variance ( % ) [ 1H - 26 vs 1H - 25 ] 2Q - 26 1Q - 26 Variance ( % ) [ 2Q - 26 vs 1Q - 26 ] Production ( MT ‘ 000 ) 282 Plant utilization rates ( % ) 49 % 601 105 % -53 % 57 225 -75 % 20 % 78 % The Group continued to undertake production adjustments due to the ongoing regional conflict . These circumstances affected MPHC's operating performance , resulting in reduced production volumes across both the Petrochemical and Chlor - alkali segments . Financial performance updates – 1H - 26 vs 1H - 25 - Key financial performance indicators Average selling price ( $ / MT ) Sales volumes ( MT ' 000 ) Revenue ( QR million ) EBITDA ( QR million ) Net profit / loss ( QR million ) Earnings / Losses per share ( QR ) EBITDA margin ( % ) Note : Figures have been reported based on non - IFRS based proportionate consolidation Analysis of MPHC's net earnings - 1H - 26 vs 1H - 25 379 37 IH 2025 Price ( 148 ) % 1H - 26 1H - 25 Variance ( % ) 644 663 -3 % 258 585 -56 % 605 1,411 -57 % 41 610 -93 % ( 183 ) 379 -148 % ( 0.015 ) 0.030 -148 % 7 % 43 % ( Amounts in QR millions ) 204 19 30 ( 183 ) ( 852 ) Volume Variable Cost Inventory differential Others IH 2026 1 Cash and bank balances are reported based on non - IFRS based proportionate consolidation , including share of cash and bank balances from joint ventures MPHC financial results for the six - month period ended 30 June 2026 Page 1 of 4
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MPHC financial results for the six-month period ended 30 June 2026 Page 2 of 4 CLASSIFICATION: C0 - NON-CONFIDENTIAL Profitability in H1-26 was impacted by lower sales volumes compared to H1-25, primarily reflecting logistical disruption. While overall average selling prices were lower year-on-year, mainly due to weaker pricing in the Petrochemical segment, the price impact on earnings was positive. This was driven by the introduction of the higher- value PVC product within the Chlor-alkali segment, together with improved Chlor-alkali pricing, which partially offset the adverse price effect from Petrochemicals. While operating costs decreased in line with lower production and sales volumes, the Group continued to incur its fixed operating costs to maintain safe and reliable operations. As a result, margins came under pressure, particularly in the Petrochemical segment Financial performance – 2Q-26 vs 1Q-26 Key financial performance indicators 2Q-26 1Q-26 Variance (%) Average selling price ($/MT) 816 605 +35% Sales volumes (MT ’000) 48 210 -77% Revenue (QR’ million) 143 463 -69% EBITDA (QR’ million) (75) 116 -164% Net profit/loss (QR’ million) (182) (1) -18,116% Earnings/Losses per share (QR) (0.0145) (0.0001) -18,116% EBITDA margin (%) (52%) 25% - Note: Figures have been reported based on non-IFRS based proportionate consolidation Analysis of MPHC’s net earnings - 2Q-26 vs 1Q-26 (Amounts in QR millions) MPHC’s net profit declined quarter-on-quarter, resulting in a net loss for Q2 2026. Performance was primarily impacted by lower sales volumes across both business segments, partially offset by higher average realized selling prices. The softer sales volumes compared with the preceding quarter reflected the impact of the regional conflict. While operating costs declined, fixed operating costs remained largely unchanged, resulting in lower profit margins across both segments, particularly within the Petrochemical segment. Financial position Key performance indicators As at 30-Jun-26 As at 31-Dec-25 Variance (%) Cash and bank balances (QR’ billion) 3.2 3.5 -8% Total Assets (QR’ billion) 16.1 16.5 -2% Total Equity (QR’ billion) 15.8 16.2 -2% Note: Cash and bank balances is reported based on non-IFRS based proportionate consolidation MPHC continues to maintain a strong liquidity position, with a significant and robust cash balance. The total cash balance declined compared to 31-Dec-25, primarily due to the distribution of final dividends for the financial year 2025, and MPHC’s financial contribution toward the PVC project.
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MPHC financial results for the six-month period ended 30 June 2026 Page 3 of 4 CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental performance highlights Petrochemicals: Key performance indicators 1H-26 1H-25 Variance (%) [1H-26 vs 1H-25] 2Q-26 1Q-26 Variance (%) [2Q-26 vs 1Q-26] Production (MT ’000) 151 349 -57% 25 126 -81% Average selling price ($/MT) 825 883 -7% 1,131 781 +45% Sales volumes (MT ’000) 141 330 -57% 18 123 -86% Revenue (QR million) 422 1,061 -60% 73 349 -79% Net profit/loss (QR million) (138) 333 -142% (150) 12 -1,384% Note: The above figures have been reported based on non-IFRS based proportionate consolidation Segmental performance analysis – 1H-26 vs 1H-25 The Petrochemicals segment recorded a net loss for the current period, representing a decline compared with the same period last year. The decrease was primarily driven by lower production output and sales volumes, which negatively impacted revenues. Market conditions remained characterized by ongoing pressure on product pricing resulting from global supply- demand mismatches and weaker demand across major downstream sectors. Segmental performance analysis - 2Q-26 vs 1Q-26 On a quarter-on-quarter basis, profitability of the Petrochemicals segment decreased compared with the preceding quarter, driven mainly by lower sales volumes, which negatively impacted revenue generation, despite a partial offset from stronger average realized selling prices. The increase in prices reflected tighter market supply conditions during the period, whereas the reduction in volumes was primarily linked to lower production output. Chlor-alkali: Key performance indicators 1H-26 1H-25 Variance (%) [1H-26 vs 1H- 25] 2Q-26 1Q-26 Variance (%) [2Q-26 vs 1Q-26] Production (MT’ 000) 131 252 -48% 32 99 -67% Average selling price ($/MT) 428 377 13% 630 358 +76% Sales volumes (MT’ 000) 117 255 -54% 30 87 -65% Revenue (QR’ million) 183 350 -48% 69 114 -39% Net profit/loss (QR’ million) (85) 8 -1199% (52) (33) -56% Note: The above figures have been reported based on non-IFRS based proportionate consolidation Segmental performance analysis – 1H-26 vs 1H-25 The Chlor-alkali segment recorded a net loss for the period ended 30 June 2026, compared to a net profit in the corresponding period of the previous year. Performance was primarily impacted by lower production and sales volumes resulting from the regional conflict and related logistics constraints. While average realised selling prices strengthened, providing partial support to earnings, the positive pricing impact could not fully mitigate the effect of lower production and sales volumes. Segmental performance analysis - 2Q-26 vs 1Q-26 The segment reported a net loss during 2Q-26, continuing the trend observed in the previous quarter. The downward trend accelerated during the period, primarily due to the decline in sales volumes, while average selling prices strengthened quarter-on-quarter. The reduction in volumes resulted in lower revenues and higher segment losses compared to the previous quarter.
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MPHC financial results for the six-month period ended 30 June 2026 Page 4 of 4 CLASSIFICATION: C0 - NON-CONFIDENTIAL Earnings Call MPHC will host an Investor Relations (IR) earnings call with investors to present its H1-2026 results, business outlook and other matters, on Monday 17 August 2026 at 1:30 p.m. Doha time. The IR presentation that accompanies the conference call will be posted on the ‘Financial Information’ page within the IR section at MPHC’s website. -Ends- About MPHC Mesaieed Petrochemical Holding Company Q.P.S.C. (“MPHC”) was incorporated as a Qatari joint stock company on May 29, 2013, with an agreed effective date for the transfer of QatarEnergy’s (formerly known as Qatar Petroleum) previous shareholding in the joint ventures of September 1, 2013. The registered office is located at P.O. Box 3212, Doha, State of Qatar. The main activity of MPHC is to act as a holding company: (i) Q-Chem is currently owned by MPHC (49%), Chevron Phillips Chemical International Qatar Holdings L.L.C. (“CPCIQH”) (49%) and QatarEnergy (2%), and has one wholly- owned subsidiary, Q-Chem Distribution Company Limited,(ii) Q-Chem II is currently owned by MPHC (49%), CPCIQH (49%) and QatarEnergy (2%), and has one wholly-owned subsidiary, Q-Chem II Distribution Company Limited, and an effective ownership interest of 53.85% in a joint venture, Ras Laffan Olefins Company Limited, which supplies ethylene to Q-Chem II; and (iii) QVC, which was incorporated in 1997 as a joint venture, and is currently owned by MPHC (55.2%), and IQ (44.8%). For more information about the earnings announcement, e-mail mphc@qatarenergy.qa or visit www.mphc.com.qa DISCLAIMER The companies in which Mesaieed Petrochemical Holding Company Q.P.S.C. directly and indirectly owns investments are separate entities. In this press release, “MPHC” and “the Group” are sometimes used for convenience in reference to Mesaieed Petrochemical Holding Company Q.P.S.C. This presentation may contain forward-looking statements concerning the financial condition, results of operations and businesses of Mesaieed Petrochemical Holding Company Q.P.S.C. All statements other than statements of historical fact are deemed to be forward-looking statements, being statements of future expectations that are based on current expectations and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, operations and business performance or events impacting the group to differ materially from those expressed or as may be inferred from these statements. There are a number of factors that could affect the realization of these forward-looking statements such as: (a) price fluctuations in crude oil and natural gas, (b) changes in demand or market conditions for the group’s products, (c) loss of market share and industry competition, (d) environmental risks and natural disasters, (e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) political risks. As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements contained herein. All forward-looking statements contained in this presentation are made as of the date of this presentation. Mesaieed Petrochemical Holding Company Q.P.S.C., its Directors, officers, advisors, contractors and agents shall not be liable in any way for any costs, losses or other detrimental effects resulting or arising from the use of or reliance by any party on any forward-looking statement and / or other material contained herein. Mesaieed Petrochemical Holding Company Q.P.S.C., its joint ventures and associated companies are further in no way obliged to update or publish revisions to any forward-looking statement or any other material contained herein which may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reason whatsoever. Mesaieed Petrochemical Holding Company Q.P.S.C. does not guarantee the accuracy of the historical statements contained herein. GENERAL NOTES Mesaieed Petrochemical Holding Company’s accounting year follows the calendar year. No adjustment has been made for leap years. Values expressed in QR billions and percentages have been rounded to 1 decimal point. All other values have been rounded to the nearest whole number. Values expressed in US $’s have been translated at the rate of US $1 = QR3.64. Amounts relating to income statement, including revenue, net profits, production, sales volumes, have been computed and reported for the purposes of this press release on proportionate basis, based on the share of ownership of MPHC in its respective joint ventures. DEFINITIONS EPS: Earnings per Share (Net Profit / Number of Ordinary Shares outstanding at the year end) • EBITDA: Earnings Before Interest, Tax, Depreciation and Amortisation • MT: Metric Tons • Payout Ratio: Total Cash Dividend / Net Profit x 100 • Utilisation: Production Volume / Rated Capacity x 100