Mesaieed Petrochemical Q P S C : MPHC reports a net profit of QR 443 million for the three-month period ended 31 March 2022

FOR IMMEDIATE RELEASE

MPHC reports a net profit of QR 443 million for the three-month period ended 31 March 2022

• ▪ Year-on-year results reflected constructive product price momentum carried forward from the latter part of last year

• ▪ Quarter-on-quarter results benefitted from higher sales volumes amid better plant utilization

• ▪ Earnings per share (EPS) amounted to QR 0.035 for the three-month period ended 31 March 2022

• ▪ Robust liquidity position with closing cash and bank balances1 amounting to QR 3.0 billion as of 31 March 2022

Doha, Qatar; 26 April 2022: Mesaieed Petrochemical Holding Company ("MPHC" or "the Group"; QE ticker: MPHC), today announced a net profit of QR 443 million for the three-month period ended 31 March 2022, representing an increase of 17% compared to last year.

Updates on macroeconomic environment

Macroeconomic environment remained uneven during the first three months of 2022, where demand for certain petrochemical products slightly inched downward, owing to seasonal effects and buyers' caution on prices after reaching peak during last year. On the other hand, specifically during latter part of 1Q-22, supply side was affected amid Russia-Ukraine conflict enforcing sharp rise in energy prices.

On overall basis, prices for most MPHC's products remained essentially balanced, except for NAOs and caustic soda, where strength was noted on the back of elevated end-product prices. However, price trajectories on a year-on-year basis, remained elevated on account of continued support from better economic activity, GDP growth and limited supply.

Updates on operational performance

Key performance indicators	1Q-22	1Q-21	4Q-21	Variance (%) [1Q-22 vs 1Q-21]	Variance (%) [1Q-22 vs 4Q-21]
Production (MT' 000)	245	280	244	-13%	+0%
Plant utilization rates (%)	84%	97%	78%	--

MPHC's operations continue to remain robust and resilient with total production for the period reaching 245 thousand MTs for 1Q-22. Current period's production volumes declined by 13% versus 1Q-21, mainly due to a largescale turnaround carried out at Q-Chem's facilities. On the other hand, production volumes for 1Q-22 remained flat in comparison to 4Q-21, where volumes were affected due to a planned preventive maintenance shutdown carried out at the chlor-alkali facilities.

1 Cash and bank balances are reported based on non-IFRS based proportionate consolidation

MPHC financial results for the three-month period ended 31 March 2022

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HSE realizations

MPHC operating entities continue to demonstrate superior operational agility, as Q-Chem completed a challenging maintenance shutdown with excellent safety results, without a recordable injury.

Financial performance updates - 1Q-22 vs 1Q-21

Key financial performance indicators	1Q-22	1Q-21	Variance (%)
Average selling price ($/MT)	1,068	847	+26%
Sales volumes (MT' 000)	250	290	-14%
Revenue (QR' million)	970	893	+9%
EBITDA (QR' million)	543	480	+13%
Net profit (QR' million)	443	379	+17%
Earnings per share (QR)	0.035	0.030	+17%
EBITDA margin (%)	56%	54%	--

Note: Revenue and EBITDA have been reported based on non-IFRS based proportionate consolidation

MPHC reported a net profit of QR 443 million for the three-month period ended 31 March 2022, up by 17% compared to the same period last year. Group revenue improved by 9% to reach QR 970 million, as compared to QR 893 million for 1Q-21. Earnings per share (EPS) amounted to QR 0.035 for the three-month period ended 31 March 2022, compared to QR 0.030 for 1Q-21.

During the quarter, average blended product prices increased by 26% compared to 1Q-21, translating into an increase of QR 209 million in MPHC's net earnings, as compared to 1Q-21. Firm product demand supplemented by supply constraints resulted in improved commodity prices. Sales volumes decreased by 14% versus 1Q-21, mainly driven by lowered plant operating rates, amid large scale turnaround carried at Q-Chem facilities during the current period. Decline in sales volumes translated into a decrease of QR 129 million in MPHC's net earnings.

EBITDA for the current period amounted to QR 543 million with an increase of 13% versus 1Q-21, mainly due to improvement in revenue along with contained operating cost. EBITDA margins for 1Q-22 reached 56% versus 54% achieved during 1Q-21.

Financial performance - 1Q-22 vs 4Q-21

Key financial performance indicators	1Q-22	4Q-21	Variance (%)
Average selling price ($/MT)	1,068	1,065	+0%
Sales volumes (MT' 000)	250	244	+3%
Revenue (QR' million)	970	946	+3%
EBITDA (QR' million)	543	528	+3%
Net profit (QR' million)	443	423	+5%
Earnings per share (QR)	0.035	0.034	+5%
EBITDA margin (%)	56%	56%	--

Note: Revenue and EBITDA measures have been reported based on non-IFRS based proportionate consolidation

Compared to 4Q-21, MPHC revenue inched higher by 3%, while net profit increased by 5%. Key contributor towards the improvement in revenue and net earnings was mainly linked to better sales volumes which increased by 3%, amid higher plant operating rates. However, selling prices remained flat during 1Q-22 compared to 4Q-21, as effects of higher energy prices were mainly offset by muted demand.

Financial position

Key performance indicators	As at 31-Mar-22	As at 31-Dec-21	Variance (%)
Cash and bank balances (QR' billion)	3.0	3.9	-24%
Total Assets (QR' billion)	16.6	17.4	-5%
Total Equity (QR' billion)	16.1	17.1	-6%

Note: Cash and bank balances is reported based on non-IFRS based proportionate consolidation

Liquidity remained robust with cash and bank balances standing at QR 3.0 billion as at 31 March 2022. Total assets as at 31 March 2022 amounted to QR 16.6 billion and total equity amounted to QR 16.1 billion as at 31 March 2022.

Segmental performance highlights

Petrochemicals:

Key performance indicators	1Q-22	1Q-21	4Q-21	Variance (%) [1Q-22 vs 1Q-21]	Variance (%) [1Q-22 vs 4Q-21]
Average selling price ($/MT)	1,224	999	1,153	+23%	+6%
Sales volumes (MT' 000)	133	170	184	-21%	-27%
Revenue (QR' million)	594	617	771	-4%	-23%
Net profit (QR' million)	247	250	357	-1%	-31%
Production (MT' 000)	130	170	183	-24%	-29%

Note: The above figures have been reported based on non-IFRS based proportionate consolidation

Petrochemicals segment reported a net profit of QR 247 million for 1Q-22, down by 1% versus 1Q-21. This marginal decline in profitability was primarily driven by lowered sales volumes (-21%), as the segment carried a largescale turnaround at Q-Chem facilities during 1Q-22, which affected the segment's production volumes to decline by 24%.

On the contrary, product prices improved by 23% and offset most of the negative impacts relating to lower volumes. Selling prices improved mainly on account of continued momentum from positive macro-drivers carried from latter part of last year. On overall basis, segmental revenue declined by 4% versus 1Q-21.

On a quarter-on-quarter basis, segmental profits significantly declined by 31%, mainly linked to lower sales volumes during 1Q-22 which declined by 27%. However, average selling prices improved by 6%, mainly on account of higher NAO prices which increased by 9%, amid better end-product demand, while HDPE prices marginally increased by 1% versus 4Q-21.

Chlor-alkali:

Key performance indicators	1Q-22	1Q-21	4Q-21	Variance (%) [1Q-22 vs 1Q-21]	Variance (%) [1Q-22 vs 4Q-21]
Average selling price ($/MT)	888	633	798	+40%	+11%
Sales volumes (MT' 000)	116	120	60	-3%	+93%
Revenue (QR' million)	376	277	175	+36%	+114%
Net profit (QR' million)	189	125	58	+51%	+223%
Production (MT' 000)	115	110	61	+5%	+88%

Note: The above figures have been reported based on non-IFRS based proportionate consolidation

Chlor-alkali segment reported a net profit of QR 189 million for 1Q-22, increased significantly by 51% compared to the same period of last year. This notable growth was primarily driven by a significant improvement in blended average selling prices, which increased by 40% versus 1Q-21, complemented by strength from end-product industries (alumina/ aluminium, polymers, etc.). Sales volumes marginally declined by 3% compared to 1Q-21. On overall basis revenue grew by 36% within the segment. Production volumes marginally rose by 5% versus 1Q-21.

On a quarter-on-quarter basis, profitability increased by 223% mainly on account of higher sales volumes which increased by 93%. Growth in sales volumes was attributed to higher plant operating rates noted during 1Q-22, as 4Q-22 volumes were affected due to a largescale maintenance shutdown carried out at QVC facilities. Due to the same reason, production volumes also significantly increased by 88% during 1Q-22 in comparison to 4Q-21. Selling prices for 1Q-22 remained higher and an increase of 11% was noted versus 4Q-21, mainly due to higher caustic soda prices which increased by 28% during the current period, capturing strength from aluminium industry being a key user of the chemical. Growth in average selling prices coupled with higher sales volumes, led to a significant increase in segmental revenue, which inclined by 114% during 1Q-22 versus 4Q-21.

Earnings Call

MPHC will host an IR earnings call with investors to discuss its results, business outlook and other matters on Wednesday, 27th April 2022 at 12:30 p.m. Doha Time. The IR presentation that accompanies the conference call will be posted on the 'financial information' page within the Investor Relations section at MPHC's website.

-Ends-

About MHPC

Mesaieed Petrochemical Holding Company Q.P.S.C. ("MPHC") was incorporated as a Qatari joint stock company on May 29, 2013 with an agreed effective date for the transfer of QatarEnergy's (formerly known as Qatar Petroleum) previous shareholding in the joint ventures of September 1, 2013. The registered office is located at P.O. Box 3212, Doha, State of Qatar.

The main activity of MPHC is to act as a holding company: (i) Q-Chem is currently owned by MPHC (49%), Chevron Phillips Chemical International Qatar Holdings L.L.C. ("CPCIQH") (49%) and QatarEnergy (2%), and has one wholly-owned subsidiary, Q-Chem Distribution Company Limited,(ii) Q-Chem II is currently owned by MPHC (49%), CPCIQH (49%) and QatarEnergy (2%), and has one wholly-owned subsidiary, Q-Chem II Distribution Company Limited, and an effective ownership interest of 53.85% in a joint venture, Ras Laffan Olefins Company Limited, which supplies ethylene to Q-Chem II; and (iii) QVC, which was incorporated in 1997 as a joint venture, and is currently owned by MPHC (55.2%), Qapco (31.9%) and QatarEnergy (12.9%).

For more information about the earnings announcement, [e-mail] or visitwww.mphc.com.qa

DISCLAIMER

The companies in which Mesaieed Petrochemical Holding Company Q.P.S.C. directly and indirectly owns investments are separate entities. In this press release, "MPHC" and "the Group" are sometimes used for convenience in reference to Mesaieed Petrochemical Holding Company Q.P.S.C.

This presentation may contain forward-looking statements concerning the financial condition, results of operations and businesses of Mesaieed Petrochemical Holding Company Q.P.S.C. All statements other than statements of historical fact are deemed to be forward-looking statements, being statements of future expectations that are based on current expectations and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, operations and business performance or events impacting the group to differ materially from those expressed or as may be inferred from these statements.

There are a number of factors that could affect the realisation of these forward-looking statements such as: (a) price fluctuations in crude oil and natural gas, (b) changes in demand or market conditions for the group's products, (c) loss of market share and industry competition, (d) environmental risks and natural disasters, (e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) political risks. As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements contained herein. All forward-looking statements contained in this presentation are made as of the date of this presentation.

Mesaieed Petrochemical Holding Company Q.P.S.C., its Directors, officers, advisors, contractors and agents shall not be liable in any way for any costs, losses or other detrimental effects resulting or arising from the use of or reliance by any party on any forward-looking statement and / or other material contained herein. Mesaieed Petrochemical Holding Company Q.P.S.C., its joint ventures and associated companies are further in no way obliged to update or publish revisions to any forward-looking statement or any other material contained herein which may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reason whatsoever. Mesaieed Petrochemical Holding Company Q.P.S.C. does not guarantee the accuracy of the historical statements contained herein.

GENERAL NOTES

Mesaieed Petrochemical Holding Company's accounting year follows the calendar year. No adjustment has been made for leap years. Values expressed in QR billions and percentages have been rounded to 1 decimal point. All other values have been rounded to the nearest whole number. Values expressed in US $'s have been translated at the rate of US $1 = QR3.64.

Amounts relating to income statement, including revenue, net profits, production, sales volumes, have been computed and reported for the purposes of this press release on proportionate basis, based on the share of ownership of MPHC in its respective joint ventures.

DEFINITIONS

Cash Realisation Ratio: Cash Flow From Operations / Net Profit x 100 • Debt to Equity: (Current Debt + Long-Term Debt) / Equity x 100 • Dividend Yield: Total Cash Dividend / Closing Market Capitalisation x 100 • EDC: Ethylene Dichloride • EPS: Earnings per Share (Net Profit / Number of Ordinary Shares outstanding at the year end) • EBITDA: Earnings Before Interest, Tax, Depreciation and Amortisation • Free Cash Flow: Cash Flow From Operations - Total CAPEX • HCL: Hydrochloric Acid

• • HDPE: High Density Polyethylene • NAO: Normal Alpha Olefins • NaOH: Caustic Soda • MT / PA: Metric Tons Per Annum • Payout Ratio: Total Cash Dividend / Net Profit x 100 • P/E: Price to Earnings (Closing market capitalisation / Net Profit) • Utilisation: Production Volume / Rated Capacity x 100 • VCM: Vinyl Chloride Monomer