Slides
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3rd November 2025 Q3 2025 SABIC EARNINGS CALL
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3 Classification: Internal Use Q3 2025 SABIC EARNINGS CALL This presentation has been prepared solely for use at this meeting. By attending the meeting where this presentation is made or accessing this presentation, you agree to be bound by the following limitations. This material is given in conjunction with an oral presentation and should not be taken out of context. This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed as, an offer of, a solicitation of an offer to buy, or an invitation to subscribe for, underwrite or otherwise acquire, any securities of SABIC (the “Company”) any other existing or future member of the SABIC Group (the “Group”) or any other company including Saudi Aramco, nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of any such company or with any other contract or commitment whatsoever. This presentation does not constitute a prospectus in whole or in part, and any decision to invest in securities should be made solely on the basis of the information to be contained in a prospectus and on an independent analysis of the information contained therein. Any assumptions, views or opinions (including statements, projections, forecasts or other forward-looking statements) contained in this presentation represent the assumptions, views or opinions of the Company as of the date indicated and are subject to change without notice. All information not separately sourced is from Company data and estimates. Information contained in this presentation related to past performance is not an indication of future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto. The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein, and no reliance should be placed on it. Neither the Company nor its affiliates, advisers, connected persons or any other person accepts any liability for any loss howsoever arising (in negligence or otherwise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. This shall not, however, restrict or exclude or limit any duty or liability to a person under any applicable law or regulation of any jurisdiction which may not lawfully be disclaimed (including in relation to fraudulent misrepresentation). This presentation includes “'forward-looking statements.” These statements contain the words “anticipate,” “believe,” “intend,” “estimate,” “expect” and words of similar meaning. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company’s financial position, business strategy, plans and objectives of management for future operations (including cost savings and productivity improvement plans) are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the market environment in which the Company will operate in the future. These forward-looking statements speak only as of the date of this presentation. Each of the Company, the relevant Group entities and their respective shareholders, agents, employees and advisers, expressly disclaims any obligation or undertaking to update any forward-looking statements contained herein. You are urged to consider these factors carefully in evaluating the forward-looking statements in this presentation and not to place undue reliance on such statements. This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation of such jurisdiction or which would require any registration or licensing within such jurisdiction. Any failure to comply with these restrictions may constitute a violation of the laws of other jurisdictions. The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice. Note: with reference to ICIS in this presentation, ICIS has not seen or reviewed any conclusions, recommendations or other views that may appear in this document. ICIS makes no warranties, express or implied, as to the accuracy, adequacy, timeliness, or completeness of its data or its fitness for any particular purpose. ICIS disclaims any and all liability relating to or arising out of use of its data and other content to the fullest extent permissible by law. DISCLAIMER
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5 Classification: Internal Use NAVIGATING GLOBAL CHALLENGES Real GDP Growth (%) Europe ChinaUnited StatesGlobal 0% 1% 2% 3% 4% 5% 6% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Manufacturing PMI 40 44 48 52 56 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Europe ChinaUnited StatesGlobal * Forecasted till the end of 2025 Ethylene Balance & Operating Rates DemandCapacity Operating Rate (%) 74% 76% 78% 80% 82% 84% 86% 88% 90% 92% 0 50 100 150 200 250 2018 2019 2020 2021 2022 2023 2024 2025 Long-term Average Operating Rate (%) * Global GDP growth settled at 2.6% in Q3 2025 PMI shows some improvement with expansion in Europe and China Overcapacity persists in petrochemicals industry
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6 Classification: Internal Use DRIVING FORWARD KEY PRIORITIES TO BE THE PREFERRED WORLD LEADER IN CHEMICALS 1 Total Recordable Incident Rate for year-to-date 2025. 2 Up to end of Q3 on EBITDA level & on Recurring basis. 3 Year-to-date 2025. TRANSFORMATION Realization2 of $300 Mn. in Transformation journey OPERATIONAL EXCELLENCE 0.07 TRIR1 - Best in class in Environment, Health, Safety and Security VALUE CREATION Innovative Solutions In EV Won R&D 100 Award VALUE CREATION Delivering customer- centric solution through 91 NPIs3 VALUE CREATION Expanding Low Carbon Products Portfolio OPERATIONAL EXCELLENCE TRANSFORMATION SELECTIVE GROWTH VALUE CREATION 2025 PRIORITIES SELECTIVE GROWTH Major Milestones in Growth Projects TRANSFORMATION Successful launch of upgraded ERP landscape VALUE CREATION 17% improvement in Local content score
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7 Classification: Internal Use DRIVING GROWTH THROUGH MEGA PROJECT EXECUTION MTBE Project in KSA Successful Start-Up 100% ▪ Successful startup ahead of plan ▪ Largest MTBE single plant in the world with nameplate capacity 1,000 KTA ▪ A new SABIC-licensed Dehydrogenation Unit ▪ Largest regeneration air compressor Nov 2022 EPC Award Dec 2023 Engineering Completed Jan 2025 Substation Energization Aug 2025 Mechanical Completion Oct 2025 Start-up Sabic Fujian project in China EPC Progress 87% ▪ 34 Million safe man-hours ▪ Total investment of US$ 6.4 Bn. ▪ 16 Production units ▪ 1.8 MMT mixed feed steam cracker ▪ 9 out 12 technologies are owned by SABIC Jan. 2024 FID Feb 2024 EPC Award May 2025 Detail Engineering Completion Q3 2026 Start-up All Q2 2026 Mechanical Completion SELECTIVE GROWTH SELECTIVE GROWTH
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8 Classification: Internal Use Source: SABIC Direct or indirect Revenue (average 2021-2024). MARKET END INDUSTRY CONDITIONS Packaging Building & Construction Agriculture Consumer Goods Transportation Industrial Automotive Electrical & Electronics Hygiene & Healthcare END INDUSTRY Q3 25 vs Q2 25 Demand trend Q4 25 vs Q3 25 Demand trend • Improve • Stable • Contract > 1% vs. Last quarter <-1% vs. Last quarter Packaging SALES REVENUE1 Building & Construction Agriculture Consumer Goods Transportation Industrial Automotive Electrical & Electronics Hygiene & Healthcare Others
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10 Classification: Internal Use In this and all the subsequent slides: USD/SAR Rate: 3.75; Certain figures and percentages have been subject to rounding adjustments. 1 Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non- operational anomalies and one-offs. 2 EBITDA = Income from operations plus depreciation, amortization and impairment. 3 Net Income - Attributable to equity holders to the parent. 4 In 9 months of 2025. 5. Short term borrowings + debt + lease liabilities - cash and cash equivalents - short-term investments. FINANCIALS OVERVIEW Q3 2025 PERFORMANCE US$ 9.2 Bn. REVENUE -3% Lower than Q2 2025 US$ 1.3 Bn. ADJUSTED1 EBITDA2 Year-to-date adjusted EBITDA US$ 3.7 Bn. 14.5% ADJUSTED1 EBITDA2 MARGIN Reported EBITDA margin of 14.3% US$ 186 Mn. ADJUSTED1 NET INCOME3 Reported Net Income of US$ 116 Mn. US$ 2.7 Bn. CASH FLOW FROM OPERATION4 Compared with US$ 2.5 Bn. in 2024 US$ -0.2 Bn. Net Debt 5 ROBUST FINANCIAL STANDING 3% ↓ (Compared with Q2 25) 4% ↓ (Compared with Q2 25) 15 bps↓ (Compared with Q2 25) 8% ↑ (Compared with YTD 24) 45% ↑ (Compared with Q2 25)
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11 Classification: Internal Use DRIVING EBITDA THROUGH STRATEGIC OPERATIONAL TRANSFORMATION 1. Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. 2. EBITDA = Income from operations plus depreciation, amortization and impairment. Adjusted1 Margin 10.9% 14.7% 14.5% Adjusted1 EBITDA2 (US$ Bn) KEY MESSAGES Excluding Q2 Non-frequent Licensing Gain, Q3 EBITDA Recorded 10% Improvement Reported EBITDA Transformation realization Transformation Program Realization of US$300 Mn Year to Date Leveraging Mixed Feed Assets Base to Benefit from Lower Liquid Feedstock Captured Cost Improvements Through Agile Supply Chain Management Lower Sales Volume By 1% With Flat Average Selling Prices Q1 25 Q2 25 Q2 Licensing Gain Margins Volume Others Q3 25 1.3 1.4 1.0 0.7 1.3
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12 Classification: Internal Use DELIVERING ON TRANSFORMATION JOURNEY AMID MARKET PRESSURE 1. EBITDA = Income from operations plus depreciation, amortization and impairment. 2. Year-to-date 2025 compared with year-to-date 2024. 3. The split between cost excellence and value creation is dynamic depend on executed initiatives. Transformation EBITDA 1 Impact, USD Mn KEY MESSAGES 40% in value creation and 60% in cost excellence3 Targeting US$ 3 bn. EBITDA impact by 2030 through cost and value levers Strong Execution momentum; milestones delivered as planned 1 2 3 4Q1 25 Q2 25 Q3 25 YTD 25 Value Creation Cost Excellence 41 141 119 300 8% G&A Cost Reduction2 Improvement as Part of Transformation Program
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13 Classification: Internal Use 1 Q1 23 rebased to 100. Weighted average price for Petchem major products mix and regions. 2 Including FX & other factors. 3 Reflects SABIC’s underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. PETROCHEMICALS HIGHLIGHTS Petrochemicals Price Index1 Sales Drivers Volumes Prices2 Q3 25 vs Q2 25 0% 2% ↓ Petrochemicals EBITDA (US$ Bn.) Overcapacity remains a challenge for Petrochemicals segment Total Petrochemicals sales volume of 9.8 MMT during Q3 2025 1,061 952 Q2 2025 Q3 2025 Polymers SALES VOLUMES Specialties Chemicals 80 85 90 95 100 105 Q1 23 Q2 23 Q3 23Q4 23 Q1 24 Q2 24Q3 24Q4 24 Q1 25 Q2 25 Q3 25 Reported EBITDAAdjusted3 EBITDA 978 933
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14 Classification: Internal Use 1 Q1 23 rebased to 100. Weighted average price for Agri-Nutrients major products mix and regions 2 Including FX & other factors. 3 Reflects SABIC’s underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. AGRI-NUTRIENTS HIGHLIGHTS Agri-Nutrients Price Index1 Agri-Nutrients EBITDA (US$ Bn.) Increase in prices driven by higher demand in key regions Total Agri-Nutrients sales volume of 1.8 MMT during Q3 2025 Sales Drivers Volumes Prices2 Q3 25 vs Q2 25 5% ↓ 13% ↑ 331 378 Q2 2025 Q3 2025 Urea Phosphate Ammonia SALES VOLUMES 50 70 90 110 130 Q1 23 Q2 23 Q3 23Q4 23 Q1 24 Q2 24 Q3 24Q4 24 Q1 25 Q2 25 Q3 25 Reported EBITDAAdjusted3 EBITDA
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15 Classification: Internal Use CONTINUED FOCUS TOWARDS MAXIMIZING SHAREHOLDERS VALUE MAINTAIN A DISIPLINED AND EFFICIENT CAPITAL SPENDING SUSTAIN ROBUST FINANCIAL POSITION EVIDENCED BY A+ CREDIT RATING1 NAVIGATE INDUSTRY CHALLENGES THROUGH TRANSFORMATION PROGRAM – US$ 300 Mn. REALIZED UNLOCK CAPITAL VIA PORTFOLIO OPTIMIZATION – DELIVERING GOOD PROGRESS 1 Standalone rating by global rating agencies
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16 Classification: Internal Use GOING FORWARD Transformation Maximizing long-term returns for our shareholders through: Selective Growth Value Creation 1 Capital expenditure (“CAPEX”) and capital injection for SABIC’s growth project. Operational Excellence 2025 OUTLOOK GDP Global GDP growth rate is estimated at 2.7% Capital Investment1 US$ 3.0 to 3.5 Bn. OUR FOCUS
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17 Classification: Internal Use Questions & Answers
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18 Classification: Internal Use SABIC INVESTOR RELATIONS ENGAGEMENT FIND MORE INFORMATION ON: Website: www.sabic.com/en/investors E-mail: IR@SABIC.com Calls & WhatsApp: +966 530013051 CONTINUOUS DIALOGUE INVESTORS
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THANK YOU
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20 Classification: Internal Use APPENDIX
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21 Classification: Internal Use FINANCIAL PERFORMANCE 1 Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 2 EBITDA = Income from operations plus depreciation, amortization and impairment. 3 Net Income - Attributable to equity holders to the parent. . 4 Free Cash Flow = net cash from operating activities minus capital expenditure. Capital expenditure = Purchase of tangibles an d intangibles, net. 5 Includes FX & other factors. Volumes Prices5 Q3 25 vs. Q2 25 1% ↓ 0% 0 Q3 25 vs. Q3 24 2% ↓ 5% ↓ YTD 25 vs. YTD 24 4% ↑ 5% ↓ Sales Drivers Q3 25 Q2 25 Q3 24 YTD 25 YTD 24 Adjusted1 EBITDA2 margin (%) 14.5 14.7 15 13 15 Net Debt / Adjusted1 EBITDA2 (x) -0.03 -0.13 0.02 -0.03 0.02 Key Ratios (US$ Bn.) Q3 25 Q2 25 % Var Q3 24 % Var YTD 25 YTD 24 % Var Revenue 9.16 9.48 -3% 9.83 -7% 27.86 28.08 -1% EBITDA2 1.31 1.31 0% 1.52 -14% 3.29 4.24 -22% Adjusted1 EBITDA2 1.33 1.39 -4% 1.48 -10% 3.72 4.27 -13% Income from Operations (EBIT) 0.44 -0.50 - 0.66 -33% -0.26 1.54 - Adjusted1 Income from Operations (EBIT) 0.46 0.52 -10% 0.63 -26% 1.11 1.69 -34% Net Income3 0.12 -1.08 - 0.27 -57% -1.29 0.92 - Adjusted1 Net Income3 0.19 0.13 45% 0.31 -39% 0.30 1.02 -71% Free Cash Flow4 1.16 0.23 401% 1.05 11% 1.03 0.57 81%