Saudi Industrial Investment Group · TADAWUL:2250

Saudi Industrial Investment — FY2024 Earnings Presentation

30 slides from Saudi Industrial Investment's earnings presentation, Mar 25, 2025

1. Slide 1: Saudi Industrial Investment Group FY 2024 Earnings Presentation

   Saudi Industrial Investment Group FY 2024 Earnings Presentation 25th March, 2025

2. Slide 2: Table of Contents

   Table of Contents Introduction 3 Highlights 6 Strategy Update 8 Financial Performance 14 Outlook 21 Appendix 26 FY 2024 Earnings Presentation 2

3. Slide 3: Introducing our new brand identity

   Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Introducing our new brand identity Brand personality Collaboration Innovation Sustainability Growth • Transforming our brand to align with our new strategy and adapting to an evolving KSA • Our new logo symbolizes a modern

4. Slide 4: SIIG: Three decades of growth

   Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix SIIG: Three decades of growth • Established in 1996, Saudi Industrial Investment Group is an investment Arabian Chevron Phillips holding company Petrochemical Company • Primarily invested in petrochemical manufacturing ass

5. Slide 5: SIIG's Petrochemical complex projects are complementary to each other

   Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix SIIG’s Petrochemical complex projects are complementary to each other Aromatic Saudi Chevron Hydrocarbons Phillips (SCP) Mixture (780Kta) Benzene Cyclohexane (835Kta) (355Kta) Jubail Chevron Styrene (730Kta) Phillips (JCP)

6. Slide 6: Highlights

   Highlights

7. Slide 7: Healthy cash from operations generated in a challenging operating environment

   Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Healthy cash from operations generated in a challenging operating environment • Product prices rose • Sales Volume (Kmt) Share of Profits from JVs (SAR Mn) Net Profit (SAR Mn) slightly in 2024, but feedstock margin 3,942 183

8. Slide 8: Strategy Update

   Strategy Update

9. Slide 9: Our two-pronged investment strategy to improve shareholder returns and diversify

   Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Our two-pronged investment strategy to improve shareholder returns and diversify Investment Strategy Strengthen the core Diversify Maximize value operations and Invest in non-correlated sectors to commercial excellence cap

10. Slide 10: Unibio is an attractive opportunity to combine new technology with KSA's manufacturing advantage

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Unibio is an attractive opportunity to combine new technology with KSA’s manufacturing advantage • SIIG bought a 24% equity stake in Unibio International for $70mn • SIIG and Unibio continue to evaluate the development of

11. Slide 11: We will continue to prioritize return to shareholders

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix We will continue to prioritize return to shareholders • Utilized cash generated during the upcycle Utilization of Cash (SAR Mn) to continue paying dividends in the -20% CAGR downcycle • Board approved repurchase of 11mn sh

12. Slide 12: Consolidating sales and distribution under GPDC

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Consolidating sales and distribution under GPDC • Historically, GPDC and ADCO have collaborated to distribute the products of SCP, JCP and SPCo Aromatics Sales by Region (2024) Polymer Sales by Region (2024) • Over time, G

13. Slide 13: Petrochemical sector's mean reversal provides significant upside potential

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Petrochemical sector’s mean reversal provides significant upside potential • The Petrochemical industry continues to be near the lower end of Netbacks (US$/mt) Benzene Styrene Benzene Avg Styrene Avg the downcycle, despite

14. Slide 14: Financial Results

    Financial Results

15. Slide 15: Our share of profits declined due to lower margins in Polymers and loss at Unibio

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Our share of profits declined due to lower margins in the Polymers business and loss at Unibio, but net profit still jumped due to zakat credit SIIG Share of Net Profit Movement YoY (SAR Mn) SAR Mn FY 2024 FY 2023 Δ% Aromat

16. Slide 16: While volumes were mixed, Aromatic product prices improved

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix While volumes were mixed, Aromatic product prices improved Styrene Sales (Kmt) and Utilization (%) Benzene Sales (Kmt) and Utilization (%) Cyclohexane Sales (Kmt) and Utilization (%) 99% 93% 85% 85% 63% 66% 89% 76% 84% 725

17. Slide 17: Financial performance of Aromatics business improved on higher product prices

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Financial performance of Aromatics business improved on higher product prices Gross Profit (SAR Mn) EBITDA (SAR Mn) Highlights • Overall profitability improved on higher prices across products, 1,031 728 • Higher feedstock

18. Slide 18: Improved utilization was offset by lower product margins for the Polymer business

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Improved utilization was offset by lower product margins for the Polymer business Polyethylene Sales (Kmt) and Utilization (%) PE Netbacks (US$/mt) • PE volumes grew 10% as production was impacted in 2023 due to 87% 92% 95

19. Slide 19: Profit margins for the Polymers business declined due to lower feedstock margin

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Profit margins for the Polymers business declined due to lower feedstock margin Gross Profit (SAR Mn) EBITDA (SAR Mn) Highlights • Gross profit remained relatively stable supported by higher volumes 1,254 1,188 1,085 • EBI

20. Slide 20: Received healthy dividends from the JVs due to low capex requirements

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Received healthy dividends from the JVs due to low capex requirements SCP: Investment Value (SAR Mn) JCP: Investment Value (SAR Mn) -31% -25% 215 (488) 500 (122) 866 (1) 377 4 598 2023 Share of Profit Dividends Other 2024 2

21. Slide 21: Outlook

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22. Slide 22: Outlook

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Outlook View Commentary • While overcapacity is a current hurdle, the substantial projected growth in HDPE demand (~20% in five years). Long-term demand growth offsets • The styrene market faces challenges due to ongoing c

23. Slide 23: Planned turnaround schedule

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Planned turnaround schedule Saudi Chevron Saudi Chevron Saudi Chevron Saudi Chevron Phillips (SCP) Phillips (SCP) Phillips (SCP) Phillips (SCP) 34 days 28 days 28 days 38 days 2025 2027 2029 2026 2028 2030 Jubail Chevron S

24. Slide 24: Q&A

    Q&A

25. Slide 25: Thank you

    Thank you

26. Slide 26: Appendix

    Appendix

27. Slide 27: Financial Statements – Income Statement

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Financial Statements – Income Statement SAR Mn FY 2024 FY 2023 Δ% 4Q 2024 3Q 2024 Δ% 4Q 2023 Δ% Income Statement Share of net profit (loss) of investments 183 188 -3% (67) 126 -153% 44 -255% accounted for using the equity

28. Slide 28: Financial Statements – Cash Flow Statement

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Financial Statements – Cash Flow Statement SAR Mn FY 2024 FY 2023 Δ% 4Q 2024 3Q 2024 Δ% 4Q 2023 Δ% Cash Flow Statement Cash flows from operating activities Profit (loss) before zakat 144 181 -21% (80) 112 -172% 33 -345% De

29. Slide 29: Financial Statements – Balance Sheet

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Financial Statements – Balance Sheet SAR Mn 4Q 2024 3Q 2024 Δ% 4Q 2023 Δ% Balance Sheet Property & equipment 2 1 +30% 2 -0% Investments accounted for using the equity method 5 8,330 8,878 -6% 9,026 -8% Other assets 6 7 -6%

30. Slide 30: Disclaimer

    Introduction | Highlights | Strategy Update | Financials | Outlook | Appendix Disclaimer Saudi Industrial Investment Group (Company), prepared this presentation on a proprietary basis as general background information about the activities of company. The information contained herein is given in summ

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