Slides
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Q2 2026 SABIC earnings call 30th July 2026
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3 Q2 2026 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 GLOBAL MACROECONOMICS Real GDP Growth (Year-on-Year change, %) 0% 2% 4% 6% Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 40 45 50 55 60 65 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Europe ChinaUnited StatesGlobal Asia Manufacturing PMI (Reference Index, #) Note: Data from 3rd Party Data Provider Global GDP growth at 2.2% in Q2 2026 • Weaker GDP due to geopolitical tension and effects on energy prices At above 52, PMI showing an expansion in Manufacturing activities
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6 DEMAND RECOVERY SHOULD IMPROVE OPERATING RATES Ethylene Balance & Operating Rates Note: Data from 3rd Party Data Provider Demand Capacity Operating Rate (%) Long-term Average Operating Rate (%) Industry operating rates bottoming in the low-80s%, with gradual recovery expected thereafter Gas-advantaged Middle East crackers operate at a fraction of the cash cost of naphtha-based capacity Emerging Asia becoming the incremental growth engine 70% 72% 74% 76% 78% 80% 82% 84% 86% 88% 90% 0 50 100 150 200 250 300 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
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7 ENSURING CONTINUITY AND RESILIENCE • Re-route supply flows, 150% increase for polymers shuttling east to west • Shipping Urea from west coast • First shipment of polymer products via the Red Sea Express from Yanbu port • 6,600 Standard polymer containers on single from Jeddah port • Largest Chemicals shipment to south Asia Strait of Hormuz Ports LNG Terminals East-West STRAIT OF HORMUZ CLOSURE DISRUPTION IN OPERATIONAL ACTIVITIES AT KEY FACILITIES WITHIN THE ENERGY SECTOR HIGHER GLOBAL ENERGY PRICES Supply Chain & Logistics CURRENT CHALLENGES STRATEGY & ACTION Operational & Financial Disciplinel • Strong safety performance across people, operations, assets and environment • Maximize feedstock utilization leveraging ethylene network flexibility in Jubail • Satisfying customers through global network & close collaboration • Tighten cost control and optimize resource allocation
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8 BUILDING ON 50 YEARS OF INNOVATION, TRANSFORMATION & GROWTH 0.08 best in class TRIR1 in Environment, Health, Safety and Security US$ 880 Mn. Dividends Announced2 – Prioritizing Shareholders Value Delivering customer-centric solution through 32 NPIs3 Realization4 of US$ 547Mn. in Transformation journey in 2026 EU Petrochemicals & ETP West divestments are progressing as planned Positioning a national petrochemicals logistics champion SABIC Fujian project in China is progressing towards start-up by early Q4 2026 Successful commercial production at the one million tons MTBE plant Project Development Agreement with Rongsheng further expanding our footprint in China 1. Total Recordable incident rate 2. For the 1st half of 2026 3. Year-to-date 2026 4. On EBITDA level & on Recurring basis, Excluding European Petrochemical Business and Engineering Thermoplastics Business in the Americas and Europe YTD. OPERATIONAL PERFORMANCE AND INNOVATION PORTFOLIO AND TRANSFORMATION ACCRETIVE GROWTH
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9 FOCUS AREAS Portfolio Optimization continued focus to uplift ROCE Transformation delivery of US$ 3.00 Bn1 target by 2030 Capital Discipline Capital investment2 of US$ 3.5 – 4.0 Bn Selective Growth SABIC Fujian Complex in China 1 On EBITDA level & on Recurring basis. 2 Capital expenditure (“CAPEX”) and capital injection for SABIC’s growth project.
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11 FINANCIALS OVERVIEW – CONTINUING OPERATIONS Q2 2026 PERFORMANCE US$ 6.62 Bn. REVENUE 33% Lower Sales Volumes QoQ 5% ↓ (Compared with Q1 2026) Q1 2026 Adjusted EBITDA of US$ 1.1 Bn Q1 2026 Adjusted EBITDA margin of 16 % US$ 0.90 Bn. ADJUSTED1 EBITDA2 14 % ADJUSTED1 EBITDA2 MARGIN 18% ↓ (Compared with Q1 2026) 2.2%↓ (Compared with Q1 2026) -320 $Mn.↓ (Compared with Q1 2026) 69% ↓ (Compared with 1H 2025) Reported Net Income3 of US$ -20 Mn Compared with US$ 894 Mn in 1H 2025 Robust Financial Standing 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 & discontinued operations. 2 EBITDA = Income from operations plus depreciation, amortization and impairment. 3 Net Income - Attributable to equity holders to the parent. 4. Total company including discontinued operations, Free Cash Flow = net cash from operating activities minus capital expenditure. Capital expenditure = Purchase of tangibles and intangibles, net.. 5. Short term borrowings + debt + lease liabilities - cash and cash equivalents - short-term investments. US$ -102 Mn. ADJUSTED1 NET INCOME3 US$ 281 Mn. CASH FLOW From Operations 4 US$ 0.73 Bn. NET DEBT 5
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12 DRIVING SABIC EBITDA PERFORMANCE Higher prices by 41% and lower sales volumes by 33% Adjusted1 EBITDA2 (US$ Bn) Key Messages Reduced G&A by 3% YTD3, for cost discipline and efficiency Delivered US$ 547 Mn4 in Transformation during 1H 2026 Continued Portfolio program to unlock EBITDA and FCF uplift Adjusted Margin 15.9 % 13.6% 1. Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs & Discontinued operations. 2. EBITDA = Income from operations plus depreciation, amortization and impairment. 3. Compared with 2025 YTD. 4. On EBITDA level & on Recurring basis, Excluding European Petrochemical Business and Engineering Thermoplastics Business in the Americas and Europe. 5. Mainly results of integral JVs, FX Impact & others 1.4 1.1 0.9 Q2 25 Q1 26 Volumes Margins Other Q2 26 01 02 03 04 5 Transformation Realization
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13 PETROCHEMICALS HIGHLIGHTS Petrochemicals Price Index 1 Petrochemicals EBITDA (US$ Mn) Sales Drivers Volumes Prices2 Q2 26 vs Q1 26 34% ↓ 42% ↑ Polymers Chemicals Sales volumes Adjusted3 EBITDA Total Petrochemicals sales volume of 5.43 MMT during Q2 2026 Increase in prices driven by supply chain disruption in key regions 1. Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs & Discontinued operations. 2. EBITDA = Income from operations plus depreciation, amortization and impairment. 3. On EBITDA level & on Recurring basis. 01 02 0 50 100 150 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 630 631 Q1 2026 Q2 2026 Reported EBITDA 739
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14 AGRI-NUTRIENTS HIGHLIGHTS Agri-Nutrients Price Index1 Agri-Nutrients EBITDA (US$ Mn) Sales Drivers Volumes Prices2 Q2 26 vs Q1 26 31% ↓ 27% ↑ Sales volumes Reported EBITDAAdjusted3 EBITDA Total Agri-Nutrients sales volume of 0.96 MMT during Q2 2026 Increase in prices driven by shortage of supply in key regions Urea Ammonia Phosphate 1. Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs & Discontinued operations. 2. EBITDA = Income from operations plus depreciation, amortization and impairment. 3. On EBITDA level & on Recurring basis. 01 02 60 90 120 150 180 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 367 181 Q1 2026 Q2 2026
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15 SPECIALTIES HIGHLIGHTS Specialties Price Index 1 Specialties EBITDA (US$ Mn) Sales Drivers Volumes Prices2 Q2 26 vs Q1 26 14% ↑ 2% ↑ Sales volumes Reported EBITDAAdjusted3 EBITDA Demand remains strong across the globe with high end segments continuing the positive trajectory and seasonality Price lift in 2Q26 versus 1Q26 is a result of disciplined value pricing actions across key regions and end markets. Electronics Medical Devices Industrial Infrastructure Mobility 118 101 Q1 2026 Q2 2026 1 2024 rebased to 100 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 & Discontinued operations. 01 02 80 110 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
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16 DELIVERING COMPETITIVE DIVIDENDS THROUGH THE CYCLE 210% (2000-2010) 215% (2011-2020) 150% (2021-2025) FCF Coverage2 Free Cash Flow1 & Dividends (2000 – 2025) Enablers for Continued Delivery Active Portfolio Optimization & Focus On Higher Return Growth Leveraging On Strong Balance- sheet & Credit Rating Ongoing Transformation & Cost Discipline Programs Strong Long Term FCF Coverage 01 02 03 04 All figures are based on restated statuary reporting & applicable reporting standards in each respective period. 1 Free Cash Flow = net cash from operating activities minus capital expenditure. Capital expenditure = Purchase of tangibles an d intangibles, net. 2. FCF Coverage = FCF over Dividends 3.Hadeed, Alba, Functional form Dividends Announced Free Cash Flow1 + Asset Sales 3 US$ 880 Millions in dividends for 1st H of 2026
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17 MAXIMIZING SHAREHOLDERS VALUE Outlook Strong Focus On Costs , Portfolio, Transformation Unlocking value / capital recycling to maximize shareholders value De-risking SABIC from underperforming assets, leveraging new partnerships Refocusing asset base on cost advantage regions and value chains 01 02 03
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Questions & Answers
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19 SABIC INVESTOR RELATIONS ENGAGEMENT INVESTORS CONTINUOUS DIALOGUE FIND MORE INFORMATION ON: www.sabic.com /en/investors IR@SABIC.com
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THANK YOU
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21 FINANCIAL PERFORMANCE (US$ Bn. ) Q2 26 Q1 26 Q2 25 H1 26 H1 25 Revenue 6.62 6.97 8.06 13.59 15.87 EBITDA2 1.01 1.11 1.42 2.12 2.22 Adjusted1 EBITDA2 0.9 1.11 1.42 2.01 2.53 Income from Operations (EBIT) 0.19 0.39 0.71 0.58 0.79 Adjusted1 Income from Operations (EBIT) 0.11 0.39 0.71 0.49 1.10 Net Income3 continuing operations -0.02 0.22 0.13 0.20 0.09 Net Income3 discontinuing operations -0.2 -0.21 -1.21 -0.42 -1.50 Net Income3 (Total) -0.22 0.004 -1.08 -0.22 -1.41 Adjusted1 Net Income3 -0.10 0.22 0.32 0.12 0.56 Free Cash Flow4 -0.37 -0.07 0.23 -0.45 -0.13 1 Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies, one-offs and discontinuing operations. 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. Sales Drivers Volume Prices5 Q2 26 vs. Q1 26 33% ↓ 41% ↑ Q2 26 vs. Q2 25 41% ↓ 39% ↑ 1H 26 vs. 1H 25 25% ↓ 15% ↑ Key Ratios Q2 26 Q1 26 Q2 25 H1 26 H1 25 Adjusted1 EBITDA2 margin (%) 13.6 15.9 17.6 14.8 15.9 Net Debt /Adjusted1 EBITDA2 (x) 0.2 0.17 -0.13 0.18 -0.14