Fourth Quarter 2025 Earnings January 30, 2026 Cautionary statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this presentation, the words "believe," "could," "intend," "may," "should," "will," "expect," and similar express ...

Financial Performance & Strategy - The company's Cash Improvement Plan is on track to achieve $600 million of incremental cash flow for 2025[24, 31, 36, 71] - The company is targeting $200 million in trade working capital reductions and $200 million in fixed cost reductions by the end of 2025[24] - 2025 CAPEX guidance revised down $200 million from $1.9 billion to $1.7 billion, and 2026 CAPEX is expected to be $1.4 billion[24] - The company returned over $500 million to shareholders through dividends and share repurchases during 2Q25[26, 36] - The company has $1.7 billion in cash and cash equivalents as part of $6.4 billion of available liquidity as of June 30, 2025[36] Portfolio Optimization - The company announced the planned sale of four European O&P assets[10, 13, 36, 51, 52, 71] - Portfolio optimization improves the company's cost advantage, positioning it well to serve markets from its cost-advantaged asset base in North America and the Middle East[14] - The company is rebalancing its global footprint toward cost-advantaged regions[71] Market Dynamics & Outlook - US/Canada domestic polyethylene sales grew 3.5% vs 1Q25[49] - The company is targeting approximately 85% operating rates in 3Q25 for O&P Americas and approximately 75% for O&P EAI[49, 52] - The company's 2Q25 last twelve months (LTM) cash conversion was 75%[40]

Transaction Overview - LyondellBasell (LYB) has reached an agreement with AEQUITA to divest four Olefins & Polyolefins (O&P) assets[9, 13] - The transaction is expected to increase LYB's historical average EBITDA margin by approximately 3 percentage points and improve cash conversion[13, 21] - LYB and AEQUITA will contribute €265 million and €10 million in cash, respectively, to position the business for success[17] - LYB will receive an earnout of up to €100 million over 3 years[17] Financial Impact - The sites to be sold consumed an average of €110 million in annual capital expenditures from 2020 to 2024[14, 17] - The transaction is expected to result in approximately €400 million in fixed cost reductions[17] - AEQUITA will assume approximately €150 million in pension/employee liabilities and all environmental liabilities[17] Portfolio Optimization - LYB's share of capacity in cost-advantaged regions (U S & Middle East) will increase from 61% to 68% as a result of the transaction[15, 21] - The Europe O&P divestiture accounts for 10% of the total[15] - The company's remaining European footprint will support technology-driven growth, favorable economics for propylene oxide and oxyfuels production, profitable fossil-based production, integrated supply of feedstocks for recycled polyolefins, and a strong leadership position in APS[16]