Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q1 2026 Earnings Presentation
20 slides from Lyondellbasell Industries Nv's earnings presentation, May 1, 2026
Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings May 1, 2026
Slide 2: Cautionary statement
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
Slide 3: Safety performance
Safety performance Steadfast commitment to leadership in safety in 2026 Injuries per 200,000 hours worked 0.4 0.3 0.2 0.1 2010-2014 2015-2019 2020-2024 2025 March 2026 YTD LyondellBasell ACC Top Decile Sources: American Chemistry Council (ACC) and LyondellBasell. Notes: Medium and large companies on
Slide 4: Middle East war creating structural shifts in economics
Middle East war creating structural shifts in economics LYB is well-positioned to benefit from strengthened cost advantage War steepens the global petrochemical cost curve Ethylene Cash Cost1 • Higher crude prices increase costs for naphtha-based petchems $/ton • Crude oil discounts for China and In
Slide 5: Building a more resilient LYB independent of the cycle
Building a more resilient LYB independent of the cycle Structurally lowering costs, strengthening cash generation and improving through-cycle earnings • Ceased refining operations Portfolio • Divested EO&D business and closed Dutch PO JV transformation • Continued APS portfolio transformation ~3,000
Slide 6: First quarter 2026 highlights
First quarter 2026 highlights Solid results with only modest initial benefits from global supply constraints $125 MM $0.38 $568 MM $2.6 B Net income Diluted earnings per share EBITDA Cash and cash equivalents As of March 31, 2026 $163 MM $0.49 $615 MM $7.3 B Net income Diluted earnings per share EBI
Slide 7: Efficiently converting earnings into cash
Efficiently converting earnings into cash Cash conversion benefited from reduced working capital and timing of tax payments Cash conversion $2.6 B Cash from operating activities 1Q26 last 12 months 111% 96% 98% 90% 95% 111% Cash conversion 1Q26 last 12 months 83% 4.0x Net debt to EBITDA ex. identifi
Slide 8: Rebalanced capital allocation supporting growth
Rebalanced capital allocation supporting growth Seasonal working capital build from very low levels while supporting flexibility to capture higher prices Delivering results while enhancing financial flexibility USD, billions • Achieved 111% cash conversion2 over last 12 months $4 • $2.6 B cash and c
Slide 9: 1Q26 segment highlights
1Q26 segment highlights Improvements across the portfolio partially offset by reduced licensing activity in Technology EBITDA variance by segment ex. identified items USD, millions $19 $20 $55 $3 $615 $163 $(62) $568 $417 $345 4Q25 O&P Americas O&P EAI I&D APS Technology Other 1Q26 EBITDA EBITDA ex.
Slide 10: Olefins & Polyolefins – Americas
Olefins & Polyolefins – Americas Domestic and export margins benefiting from tight markets due to global supply constraints EBITDA ex. identified items 1Q26 market dynamics USD, millions • Integrated PE margins increased on lower feedstock costs and higher domestic and export pricing • PE contract p
Slide 11: Polyolefins moving from oversupply to tight in 2026
Polyolefins moving from oversupply to tight in 2026 LYB capturing upside from cost-advantaged assets Capacity impacts1 • War-related constraints on supply are driving prices and margins up and MM tons incentivizing increased production from stable regions 80 • North American PE remains highly advant
Slide 12: Olefins & Polyolefins – Europe, Asia & International
Olefins & Polyolefins – Europe, Asia & International Higher volumes on less downtime and improved demand partially offset by higher naphtha costs EBITDA ex. identified items 1Q26 market dynamics USD, millions • Improved seasonal demand in the region • During March, higher naphtha costs and increased
Slide 13: Intermediates & Derivatives
Intermediates & Derivatives PO&D margins benefited from improved pricing partially offset by unplanned downtime EBITDA ex. identified items 1Q26 market dynamics USD, millions • Oxyfuels benefit from higher crude oil prices offset by weaker gas crack spreads $303 $290 • Improved seasonal demand in ac
Slide 14: Advanced Polymer Solutions
Advanced Polymer Solutions Increased volumes across most APS businesses on seasonal demand improvements EBITDA ex. identified items USD, millions 1Q26 market dynamics • Seasonal demand improvement despite geopolitical uncertainty $58 • Customer focus generating results with new business wins $46 $47
Slide 15: Technology
Technology Step down in licensing sales with modest improvement in catalyst margins EBITDA ex. identified items USD, millions 1Q26 market dynamics • Reduced licensing revenue due to slower global polyolefin industry growth as expected • Improved catalyst margins from product mix $80 Near-term outloo
Slide 16: Near-term market outlook
Near-term market outlook Structural supply tightening and geopolitics driving momentum • Demand improving seasonally • Demand for essentials remains resilient (food and healthcare) North • Polymer price increases accelerating Packaging • Pricing trends firming, supported by due to global supply disr
Slide 17: Appendix
Appendix
Slide 18: LYB financial sensitivities
LYB financial sensitivities Theoretical Impact on Earnings1 Operating Rates3 Nameplate capacity3 (MMton/yr) $100/ton (4.5 cpp) integrated PE margin = North America ~85% ~4.1 ~$320MM PE Europe $100/ton integrated PE margin = ~$280MM ~70% ~2.1 $1/bbl crude oil = Oxyfuels ~85% ~5.2 ~$20MM globally2 Nor
Slide 19: Information related to financial measures
Information related to financial measures This presentation makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles, b
Slide 20: Information related to financial measures (continued)
Information related to financial measures (continued) We also present EBITDA, net income and diluted EPS exclusive of identified items. Identified items include adjustments for lower of cost or market ("LCM"), gain or loss on sale of business, asset write- downs in excess of $10 million in aggregate
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