Earnings release
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SABIC EARNINGS RELEASE SECOND QUARTER 2026 July 29th, 2026
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SABIC Earnings Release 2 The Saudi Basic Industries Corporation (“SABIC”) (2010-SA) today announced its financial results for the second quarter of 2026, reporting a revenue of SAR 24.81 billion [US$ 6.62 billion]. SECOND QUARTER 2026 HIGHLIGHTS: • Revenue of SAR 24.81 billion [US$ 6.62 billion], a decrease of 5% Q-o-Q. • Adjusted2 EBITDA1 of SAR 3.38 billion [US$ 0.90 billion], a decrease of 18% Q-o-Q. • Adjusted2 EBIT3 of SAR 0.41 billion [US$ 0.11 billion], a decrease of 72% Q-o-Q. • Adjusted2 Net (Loss) Income4 of SAR (0.38) billion [US$ (0.10) billion]. • Adjusted2 Earnings Per Share4 of SAR (0.13) [US$ (0.03)]. • Net debt position of SAR 2.73 billion [US$ 0.73 billion] as of June 30, 2026, compared to a net debt position of SAR 2.77 billion [US$ 0.74 billion] as of March 31, 2026. DR. FAISAL ALFAQEER, CEO AND EXECUTIVE BOARD MEMBER: “In the second quarter of 2026, SABIC delivered a resilient operating performance and continued to meet its strategic priorities, navigating a market shaped by geopolitical uncertainties, supply disruptions and elevated energy prices. Our focus remained on disciplined execution, operational excellence, portfolio optimization, corporate transformation, and selective growth to create sustainable long-term value. As SABIC’s 50th Anniversary approaches, our commitment to operational excellence remains stronger than ever. We maintained our best-in-class Environment, Health, Safety and Security performance, achieving a Total Recordable Incident Rate of 0.08. We also upheld leadership position in commercial innovation by introducing 32 new product solutions during the first half of this year. Additionally, we signed a Memorandum of Understanding (MoU) with the Kingdom of Saudi Arabia’s first electric vehicle (EV) brand (CEER) to strengthen collaboration, support our customers growth ambitions, and jointly develop innovative solutions that create long -term value , enhancing our contributions to localization. While the current market environment continues to be challenging, our strong balance sheet and disciplined approach to capital allocation enable us to remain resilient while continuing to create value for our shareholders. And with the announcement of SAR 3. 3 billion in dividends for the first half of 2026, we continue our long-standing dividend track record even as we preserve flexibility to support our strategic priorities for long-term value creation. At the same time, our corporate Transformation Program continues to deliver recurring EBITDA improvements, realizing US$ 547 million during the first half of 2026, maintaining our track toward our cumulative US$3 billion annual target by 2030. Our Portfolio-Optimization Program is progressing well. Following the signing of the agreement to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe earlier this year, both transactions are on track toward completion as planned. Additionally, in line with the program, we have reached agreement on the key terms for combining our Sabtank and Chemtank equity stakes through a share exchange , subject to customary regulatory approvals and other closing conditions. This transaction is expected to maximiz e operational efficiency, strengthen the terminals’ strategic positioning, and create a national petrochemicals logistics champion. Despite the geopolitical circumstances during the concluded quarter, our resilient supply chain management successfully adapted to changing trade flows . The volume of polymers shuttled from the Kingdom’s East to the West more than double d. Through close collaboration with our partners and the utilization of the newly launched Red Sea Express container service, we maintained reliable service for our
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SABIC Earnings Release 3 customers. Additionally, SABIC Agri-Nutrients completed its first shipment of bagged and solid bulk urea via the west coast, further strengthening its global supply network and supporting food security. Our strategic growth projects also continue to make solid progress. The SABIC Fujian Petrochemical Complex remains on track, with the start-up expected during the fourth quarter of 2026. We also achieved successful commercial production at our one -million-ton MTBE plant in the Kingdom, demonstrating the strength of SABIC’s proprietary technology and further reinforcing our manufacturing footprint. We advanced our selective growth journey by signing a Project Development Agreement with Rongsheng Petrochemical. which focus on advanced chemical materials to support growing demand in Asia, supporting our long-term growth strategy in one of the world’s largest chemicals markets. Looking ahead, we aim to remain focused on disciplined capital allocation, operational excellence, and executing our Transformation and Portfolio-Optimization programs. These priorities, together with our continued investment in selective growth opportunities, position SABIC to enhance its shareholder returns and deliver sustainable long-term value.” SUMMARY FINANCIAL RESULTS: Item Three Months Ended Six Months Ended June 30, 2026 Mar 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Revenue 24.81 26.15 30.23 50.96 59.49 EBITDA1 3.79 4.15 5.33 7.94 8.34 Adjusted2 EBITDA1 3.38 4.15 5.33 7.53 9.48 Income from operations (EBIT3) 0.71 1.45 2.67 2.16 2.97 Adjusted2 EBIT3 0.41 1.45 2.67 1.85 4.13 Net (loss) income4 (0.83) 0.01 (4.07) (0.82) (5.28) Adjusted2 net (loss) income4 (0.38) 0.82 1.20 0.43 2.10 Net income (loss) from continuing operations4 (0.08) 0.82 0.48 0.74 0.34 Earnings per share4 (SAR) (0.28) 0.00 (1.36) (0.27) (1.76) Adjusted2 earnings per share4 (SAR) (0.13) 0.27 0.40 0.14 0.70 Earnings per share from continuing operations4 (0.03) 0.27 0.16 0.25 0.11 Free cash flow5 (1.40) (0.27) 0.87 (1.67) (0.48) 1Income from operations (EBIT) plus depreciation, amortization, and impairment 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one- offs. 3Earnings before interest and tax 4Attributable to equity holders of the parent 5Net cash from operating activities minus capital expenditure All amounts in SAR billion unless otherwise stated, USD/SAR conversion used is 3.75. Absolute figures and percentages include d in this document have been subject to rounding adjustments. Certain prior quarter and prior year figures have been subject to rec lassifications. Please refer to the second quarter 2026 Financial Statements.
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SABIC Earnings Release 4 SABIC reported revenue of SAR 24.81 billion [US$ 6.62 billion] in Q2 2026, reflecting a 5% decrease compared to Q1 2026. This decrease was primarily driven by lower sales volume, partially offset by higher average selling prices across key products. Income from operations (EBIT) was SAR 0.71 billion [US$ 0.19 billion]. EBITDA was SAR 3.79 billion [US$ 1.01 billion], a decrease of 9% compared to Q1 2026. On an adjusted basis, EBITDA decreased by 18% Q-o-Q, mainly due to lower sales volume despite the higher selling prices. The EBITDA margin was 15.28%. The adjusted EBITDA margin was 13.64%, compared to 15.86% in Q1 2026. The drop in adjusted EBITDA margin reflects the lower sales volumes caused by the current geopolitical situation. Net loss attributable to SABIC shareholders was SAR 833 million [US$ 222 million]. On an adjusted basis, however, the loss amounted to SAR 384 million [US$ 102 million]. Free cash flow fell to SAR (1.40) billion [US$ (0.37) billion] in Q2 2026 as a result of higher working capital. BUSINESS RESULTS BY REPORTING SEGMENT: 1. Petrochemicals: Petrochemicals Financial Overview: Item Three Months Ended Six Months Ended June 30, 2026 Mar 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Gross Revenue 20.47 21.76 25.31 42.23 49.89 EBITDA3 2.77 2.36 4.07 5.14 5.84 Adjusted2 EBITDA3 2.37 2.36 4.07 4.73 6.81 Income from operations (EBIT1) 0.08 0.10 1.79 0.18 1.25 Adjusted2 EBIT1 (0.19) 0.10 1.79 (0.09) 2.21 All amounts are in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentages shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. 3Income from operations (EBIT) plus depreciation, amortization, and impairment The Petrochemicals segment covers two SABIC businesses: Chemicals, and Polymers. o Total Petrochemicals sales volume of 5.43 MMT during Q2 2026 Chemicals: • In Q2 2026, monoethylene glycol prices increased across all regions, supported by tighter global supply, higher feedstock costs, and improving seasonal demand. Supply was constrained by Middle East supply chain disruptions and planned turnarounds, while demand recovered in Asia and North America but remained weak in Europe with ample PET import. • Methanol (MEOH) prices increased globally, driven by tighter Middle East supply and higher energy costs. Demand improved modestly, supported by increased consumption for methanol-to-olefin and seasonal formaldehyde production. High operating rates in China and the United States partly offset the MEOH supply disruption. • Methyl tert-butyl ether (MTBE) prices increased over the quarter, supported by stronger crude oil and gasoline prices amid ongoing geopolitical uncertainties. Asian demand weakened, while seasonal gasoline blending supported demand in Europe amid constrained supply.
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SABIC Earnings Release 5 Polymers: • In Q2 2026, polyethylene prices increased sharply, supported by constrained supply following Middle East supply chain disruptions and higher feedstock costs, before easing toward the quarter’s end. Demand softened as elevated prices reduced purchasing activity. • Polypropylene prices remained elevated throughout most of the quarter, supported by higher feedstock costs and tight supply. Demand weakened as buyers delayed purchases due to high prices and limited availability. • Polycarbonate prices increased over the quarter, driven by higher feedstock costs and constrained supply. Demand weakened amid economic uncertainty, although restocking provided some support. 2. Agri-Nutrients: Agri-Nutrients Financial Overview: Item Three Months Ended Six Months Ended June 30, 2026 Mar 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Gross Revenue 2.40 2.71 3.15 5.11 6.24 EBITDA3 0.68 1.37 1.24 2.05 2.32 Adjusted2 EBITDA3 0.68 1.37 1.24 2.05 2.40 Income from operations (EBIT1) 0.49 1.17 1.02 1.67 1.89 Adjusted2 EBIT1 0.49 1.17 1.02 1.67 1.96 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentages shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. 3Income from operations (EBIT) plus depreciation, amortization, and impairment o Total Agri-Nutrients sales volume of 0.96 MMT during Q2 2026. • Urea prices increased sharply at the beginning of Q2, as high prices reduced demand from non- subsidized importers, shifting the market to surplus. Additional supply from China along with new production capacity, supported a price decline at the end of the quarter. 3. Specialites: The Specialties segment (which previously was part of the Polymers subsegment) comprises specialty resins, customized compounds, and reactive additives. Specialties Financial Overview: Item Three Months Ended Six Months Ended June 30, 2026 Mar 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Gross Revenue 1.94 1.68 1.77 3.62 3.36 EBITDA3 0.38 0.44 0.30 0.82 0.50 Adjusted2 EBITDA3 0.38 0.44 0.30 0.82 0.59 Income from operations (EBIT1) 0.22 0.25 0.17 0.47 0.23 Adjusted2 EBIT1 0.22 0.25 0.17 0.47 0.35 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentages shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non-operational anomalies and one-offs. 3Income from operations (EBIT) plus depreciation, amortization, and impairment
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SABIC Earnings Release 6 o Total Specialties sales volume of 65 KMT during Q2 2026. • Demand remains strong across the globe with high-end segments driving the positive trajectory. Normal seasonality also contributed to the volume increase relative to Q1 2026. • A Q-o-Q price lift is a result of disciplined value pricing across key regions and end markets. 4. Reconcilliation segments with overall group: Item Three Months Ended June 30, 2026 Petrochemicals Specialties Agri-Nutrients Corp Elimination Total Revenue 20.47 1.94 2.40 - - 24.81 EBITDA3 2.77 0.38 0.68 (0.13) 0.09 3.79 Adjusted2 EBITDA3 2.37 0.38 0.68 (0.13) 0.09 3.38 Income from operations (EBIT1) 0.08 0.22 0.49 (0.17) 0.09 0.71 Adjusted2 EBIT1 (0.19) 0.22 0.49 (0.21) 0.09 0.41 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentage s shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 3income from operations (EBIT) plus depreciation, amortization, and impairment Item Three Months Ended Mar 31, 2026 Petrochemicals Specialties Agri-Nutrients Corp Elimination Total Revenue 21.76 1.68 2.71 - - 26.15 EBITDA3 2.36 0.44 1.37 (0.13) 0.10 4.15 Adjusted2 EBITDA3 2.36 0.44 1.37 (0.13) 0.10 4.15 Income from operations (EBIT1) 0.10 0.25 1.17 (0.17) 0.10 1.45 Adjusted2 EBIT1 0.10 0.25 1.17 (0.17) 0.10 1.45 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentage s shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 3income from operations (EBIT) plus depreciation, amortization, and impairment Item Three Months Ended June 30, 2025 Petrochemicals Specialties Agri-Nutrients Corp Elimination Total Revenue 25.31 1.77 3.15 - - 30.23 EBITDA3 4.07 0.30 1.24 (0.20) (0.08) 5.33 Adjusted2 EBITDA3 4.07 0.30 1.24 (0.20) (0.08) 5.33 Income from operations (EBIT1) 1.79 0.17 1.02 (0.24) (0.08) 2.67 Adjusted2 EBIT1 1.79 0.17 1.02 (0.24) (0.08) 2.67 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentage s shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 3income from operations (EBIT) plus depreciation, amortization, and impairment
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SABIC Earnings Release 7 Item Six Months Ended June 30, 2026 Petrochemicals Specialties Agri-Nutrients Corp Elimination Total Revenue 42.23 3.62 5.11 - - 50.96 EBITDA3 5.14 0.82 2.05 (0.26) 0.19 7.94 Adjusted2 EBITDA3 4.73 0.82 2.05 (0.26) 0.19 7.53 Income from operations (EBIT1) 0.18 0.47 1.67 (0.34) 0.19 2.16 Adjusted2 EBIT1 (0.09) 0.47 1.67 (0.39) 0.19 1.85 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentage s shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 3income from operations (EBIT) plus depreciation, amortization, and impairment Item Six Months Ended June 30, 2025 Petrochemicals Specialties Agri-Nutrients Corp Elimination Total Revenue 49.89 3.36 6.24 - - 59.49 EBITDA3 5.84 0.50 2.32 (0.24) (0.08) 8.34 Adjusted2 EBITDA3 6.81 0.59 2.40 (0.24) (0.08) 9.48 Income from operations (EBIT1) 1.25 0.23 1.89 (0.32) (0.08) 2.97 Adjusted2 EBIT1 2.21 0.35 1.96 (0.32) (0.08) 4.13 All amounts in SAR billion unless otherwise stated. The USD/SAR conversion rate used is 3.75. Absolute amounts and percentage s shown in this document have been subject to rounding adjustments. Please refer to the second quarter of 2026 Financial Statements. 1Earnings before interest and tax 2Reflects SABIC's underlying operational performance based on normal course of business by eliminating the effects of non -operational anomalies and one-offs. 3income from operations (EBIT) plus depreciation, amortization, and impairment
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SABIC Earnings Release 8 OUTLOOK: Looking ahead, SABIC aims to continue focusing on sustainable long-term value creation through operational excellence, portfolio optimization, corporate transformation, and selective growth. The company maintains its disciplined approach to capital investment 1 with full-year expenditure guidance in the range of US$ 3.5 to 4 billion. 1 Capital expenditure (“CAPEX”) and capital injection for SABIC’s growth project . CONFERENCE CALL: On July 30th at 3:30 p.m. GMT+3, SABIC will host a live conference call with its CEO and CFO to discuss the quarterly results, key priorities, and other matters. The recording, transcript, and presentation slides of the call will be posted on the company’s investor relations webpage. ABOUT SABIC: SABIC (TASI: 2010) ranks among the world’s largest petrochemicals manufacturers. It is a public company based in Riyadh, the Kingdom of Saudi Arabia. 70% of the company’s shares are owned by Aramco Downstream Company a wholly owned subsidiary of Saudi Aramco, with the remaining 30% publicly traded on the Saudi Exchange. SABIC serves customers in more than 140 countries with a global workforce of more than 26,000 talented individuals. To learn more about SABIC please visit www.sabic.com For further information, please contact SABIC Investor Relations at IR@SABIC.com or visit www.sabic.com/en/investors
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SABIC Earnings Release 9 DISCLAIMER: By reading this earning release, you recognize and agree to be bound by the following limitations. This earning release 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”) or any other existing or future member of the SABIC Group (the “Group”) or any other company including Saudi Arabian Oil Co. (“Saudi Aramco”) or any other existing or future member of the Saudi Aramco Group, 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 earning release 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 contained in this earning release 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 earning release related to past performance is not an indication of future performance and is not intended to predict actual results, and no assurances are given with respect thereto. The information contained in this earning release 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 earning release or its contents or otherwise arising in connection with this earning release. 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. This earning release may include statements that are, or may be deemed to be, “‘forward-looking statements.” These statements often contain words such as “anticipate,” “believe,” “intend,” “estimate,” “expect” “outlook,” “will,” “will be,” “will Continue,” “would” and similar expressions, and variations or negatives of these words or phrases. All statements other than statements of historical facts included in this earning release 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 earning release. Each of the Company and its affiliates 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 earning release and not to place undue reliance on such statements. This earning release 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. Average sales prices stated in this earning release includes FX and other factors. The information contained in this earning release is provided as of the date of this earning release and is subject to change without notice. © 2026 Copyright by SABIC. All rights reserved.