Alpek, S.a.b. De C.v. Class A · BMV:ALPEK/A
Alpek, S.a.b. De C.v. Class A — Alpek Sab De Cv Ord — Q4 2025 Earnings Presentation
22 slides from Alpek, S.a.b. De C.v. Class A's earnings presentation, Feb 10, 2026
Slide 1: Fourth Quarter and Full Year 2025 Earnings Webcast
FOURTH QUARTER AND FULL YEAR 2025 Earnings Webcast 2
Slide 2: Today's Speakers
TODAY’S SPEAKERS JORGE YOUNG JOSÉ CARLOS PONS BÁRBARA AMAYA CEO CFO IRO 3
Slide 3: Today's Agenda
TODAY’S AGENDA 1 Full-Year Overview 2 Financial Performance 3 Guidance & 2026 Outlook 4 2026 Priorities 5 Q&A 4
Slide 4: 2025 Review
Cambiar foto 2025 REVIEW • Global oversupply and pressured reference margins • Comparable EBITDA at $489 M, slightly below Guidance expectations • Operating Free Cash Flow increased sequentially to $163 M 5
Slide 5: Delivering on Our Strategic Pillars
DELIVERING ON OUR 4 STRATEGIC PILLARS 2025 HIGHLIGHTS • Footprint optimization by ceasing PET operations at the Cedar Creek Facility Strengthen Core • Relocating capacity to more $20 M of Business competitive, scalable assets annual Build a solid savings • Cost-efficiency initiatives operational fou
Slide 6: Strategic Pillars
STRATEGIC PILLARS 2025 HIGHLIGHTS • Disciplined CAPEX Financial • NWC optimizations, an improvement Flexibility over last year’s investment $44 M of • Successful debt refinancing of $690 M net debt Enhance cash flow generation and originally due in 2026 - 2028 reduction maintain our investment grade
Slide 7: Strategic Pillars
STRATEGIC PILLARS 2025 HIGHLIGHTS • High-margin PET sheet/thermoform capacity scale Boosting Capitalizing on Growth Opportunities • Increase portfolio of high- performance & specialty solutions for PP, EPS & Specialty Chemicals Drive Explore • Growth in emerging businesses transformative opportuniti
Slide 8: Financial Performance
a FINANCIAL PERFORMANCE Pa = a wr ‘y a ‘ €\alpek 9
Slide 9: Polyester
POLYESTER VOLUME COMPARABLE EBITDA -10% YoY | -10% QoQ -59% YoY | -53% QoQ Softer demand 926 929 100 coupled with 836 88 extended maintenance outages Pressured reference margins, low ocean 41 freights & lower prices YoY 13 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 Reported EBITDA Volume in ktons, Comparable EBI
Slide 10: Plastics & Chemicals
PLASTICS & CHEMICALS VOLUME COMPARABLE EBITDA -7% YoY | -6% QoQ -15% YoY | +17% QoQ 198 65 195 184 Softer seasonal 55 demand 47 53 Resilient reference margins 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 Reported EBITDA Volume in ktons, Comparable EBITDA in U.S.$M. 11
Slide 11: 2025 & 4Q25 Financial Results
2025 & 4Q25 FINANCIAL RESULTS 4Q25 RESULTS VOLUME COMPARABLE EBITDA -8% -30% 4,635 4,745 734 VOLUME 699 4,380 1.02M TONS -9% YoY | -9% QoQ 489 COMPARABLE EBITDA $100 million 418 -40% YoY | -27% QoQ 2023 2024 2025 2023 2024 2025 Reported EBITDA Volume in ktons, Comparable EBITDA in US$M 12
Slide 12: Free Cash Flow Generation
FREE CASH FLOW GENERATION 1,884 418 1,840 25 36 58 112 2025 Op. FCF $163 M 56 138 +57% vs. 2024 50 $163M Operating FCF Net Debt EBITDA NWC Financial Taxes CAPEX CAPEX Dividends Other Net Debt Dec. 2024 Expenses Maint. Strat. Dec. 2025 All amounts in millions of U.S. dollars unless otherwise noted. 1
Slide 13: Net Debt & Leverage
NET DEBT & LEVERAGE NET DEBT LEVERAGE (US$ M) (Times) Excluding extraordinary -44 costs 1,902 4.4 1,884 4.0 3.9 1,843 1,840 3.5 3.1 1Q25 2Q25 3Q25 4Q25 1Q25 2Q25 3Q25 4Q25 Proforma All amounts in millions of U.S. dollars unless otherwise noted 14
Slide 14: 2026 Outlook
2026 OUTLOOK PLASTICS & EMERGING POLYESTER CHEMICALS BUSINESS Stable Headwinds Tailwinds • Operational & financial • New PP capacity in North • Successful growth stability America trajectory • Global oversupply & soft • Softness in EPS • Expected to double size demand construction market over next 3
Slide 15: 2026 Guidance
2026 GUIDANCE Base Case Main Assumptions Comp. EBITDA US $450 - $500 M PET Reference Margins • Average $145/ton • Average $75/ton for CAPEX US $130 M Ocean Freights South America Op. FCF US $100 - $150 M PP Reference Margins • 13 cpp Volume 4.5 M tons Exchange Rate • FX at 18.0 MXN/USD • Minimal ben
Slide 16: 2026 Guidance
2026 GUIDANCE Base Case Potential Drivers Comp. EBITDA US $450 - $500 M ~ US $50 M PET Reference • Average $145/ton • Average $155/ton Margins Ocean Freights • Average $75/ton for South America • Above $85/ton for South America PP Reference Margins • 13 cpp - Exchange Rate • FX at 18.0 MXN/USD • FX
Slide 17: Long-Term Strategy & Priorities for 2026
LONG-TERM STRATEGY & PRIORITIES FOR 2026 STRATEGY 2026 Polyester Competitive, integrated-scalable hubs Footprint Optimization Commodities Polyester High- Debottleneck & improve Scale position & product portfolio Value Added R&D capabilities Plastics & Leverage competitive assets & expand specialties
Slide 18: Q&A
Q&A JORGE YOUNG JOSÉ CARLOS PONS CEO CFO 19
Slide 19: Investor Relations
INVESTOR RELATIONS BÁRBARA AMAYA ALEJANDRA BUSTAMANTE IRO | Strategic Planning Director | Corporate IR Manager Finance Director bamaya@alpek.com abustamante@alpek.com VISIT ALPEK.COM OR CONTACT US FOR ADDITIONAL INFORMATION: IR@ALPEK.COM 20
Slide 20: Annex
Aalpek 21
Slide 21: Relevant Reference Margins
RELEVANT REFERENCE MARGINS PX PRICES PET REFERENCE MARGINS -7% -2% 1,139 305 1,073 1,058 276 271 879 886 874 170 134 142 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 North America Asia Asia China POLYPROPYLENE EPS Propylene Prices Ref. Margin Styrene Prices Ref. Margin 42 45 44 43 36 41 38 40 31 15 14 14 4Q24 3Q25
Slide 22: Fourth Quarter and Full Year 2025 Earnings Webcast
FOURTH QUARTER AND FULL YEAR 2025 Earnings Webcast 23