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lyondellbasell Advancing Possible NEWS RELEASE FOR IMMEDIATE RELEASE HOUSTON and LONDON , April 30 , 2021 LyondellBasell Reports First Quarter 2021 Earnings First Quarter 2021 Highlights • Strong demand and tight markets drove margin improvements • Net Income : $ 1.1 billion • Diluted earnings per share : $ 3.18 per share • • • • EBITDA : $ 1.6 billion ; Highest quarterly EBITDA for O & P - Americas since 2015 and O & P - EAI since 2018 Repaid $ 500 million of debt in January Newly - formed Louisiana joint venture contributed $ 130 million in EBITDA Finalized agreement to form a propylene oxide joint venture in China with Sinopec Launched Circulen suite of polymers enabling customers to improve the sustainability of consumer products Comparisons with the prior quarter and first quarter 2020 are available in the following table : Table 1 - Earnings Summary Millions of U.S. dollars ( except share data ) Sales and other operating revenues Net income Diluted earnings per share Weighted average diluted share count EBITDA ( a ) Excluding LCM¹ Net income Diluted earnings per share LCM ( benefits ) charges , pre - tax EBITDA March 31 , 2021 Three Months Ended December 31 , 2020 March 31 , 2020 $ 9,082 $ 7,937 $ 7,494 1,070 855 144 3.18 2.55 0.42 334 334 334 1,585 1,413 646 ( a ) See the end of this release for an explanation of the Company's use of EBITDA and Table 9 for reconciliations of net income to EBITDA . $ 1,070 $ 736 $ 495 3.18 2.19 1.47 ( 147 ) 419 1,585 1,266 1,065 1 LCM stands for " lower of cost or market . " An explanation of LCM and why we have excluded it from certain financial information can be found under " Information Related to Financial Measures . " 1