Alpek, S.a.b. De C.v. Class A · BMV:ALPEK/A
Alpek, S.a.b. De C.v. Class A — Investor Presentation (February 2026)
45 slides from Alpek, S.a.b. De C.v. Class A's investor presentation, February 2026
Slide 1: Institutional Presentation February 2026
INSTITUTIONAL PRESENTATION FEBRUARY 2026
Slide 2: Index
INDEX ALPEK AT A GLANCE STRATEGY AND COMPETITIVENESS COMPANY RESULTS THE CASE FOR PET APPENDIX 2
Slide 3: Alpek holds leading positions across three main segments
ALPEK HOLDS LEADING POSITIONS ACROSS THREE MAIN SEGMENTS Revenues for 2025 resulted in $6.6B USD 71% Sales 20% Sales 9% Sales EMERGING POLYESTER PLASTICS & CHEMICALS BUSINESS PET #1 ONLY Americas PP Producer Resin Mexico PET #1 #1 Americas EPS Americas Natural Gas Sheet Trading #1 Recycled #1 Indust
Slide 4: Our global footprint
OUR GLOBAL FOOTPRINT POLYESTER P&C CAPACITY BY PRODUCT EPS OTHER PP 5% 1% 8% rPET 4% PTA 38% 7.6 9 COUNTRIES M Tons 31 PLANTS PET 44% +5,000 EMPLOYEES WORLDWIDE 4
Slide 5: Polyester case study: PET yogurt packaging
POLYESTER Alpek’s added value: Case Study Strong Global Presence to adapt to PET Yogurt 1 economic and geopolitical conditions Packaging Sustainable alternative with high quality PET making the Leadership position through Circular product 100% recyclable 2 Solutions 1. Resistant to cracking 2. Ideal
Slide 6: Plastics & Chemicals case study: medical applications
PLASTICS & CHEMICALS Case Study Alpek’s added value: Medical Applications Diversified Portfolio, allowing it to High quality materials 1 capitalize opportunities in different capable of meeting health markets standards are required 1. Vaccines, gowns, textile applications made from Sustainable Devel
Slide 7: Emerging Business case study: natural gas
EMERGING BUSINESS Case Study Alpek’s added value: Natural Gas Leading private energy Expanding beyond the PetChem company in Mexico, 1 landscape, allowing it to capitalize distributing more than 450 opportunities in different markets million cubic feet per day 1. 90% of customer portfolio based on t
Slide 8: Index
INDEX ALPEK AT A GLANCE STRATEGY AND COMPETITIVENESS COMPANY RESULTS THE CASE FOR PET APPENDIX 8
Slide 9: Investment thesis
INVESTMENT THESIS Leadership positions in attractive markets in the Americas Focus on efficiency, low costs, quality & service Cyclical businesses, with high potential for cash flow generation Maintaining financial strength through disciplined strategic actions Experienced management to navigate ind
Slide 10: Our long-term vision is built on four key pillars
OUR LONG-TERM VISION IS BUILT ON FOUR KEY PILLARS CORE + EMERGING CORE BUSINESS BUSINESS EMERGING BUSINESS Strengthen Core Financial Boosting Capitalizing on Business Flexibility Growth Opportunities Build a solid operational Enhance cash Drive Explore foundation flow generation transformative oppor
Slide 11: Key actions executed to strengthen the company
KEY ACTIONS EXECUTED TO STRENGTHEN THE COMPANY 2023 2024 2025 • Footprint optimization • Organizational restructure • Fair trade initiatives PET strategy: Polyester Cooper • Renegotiation of energy tariffs & ADDs River & Akra agreements • Footprint optimization • Footprint optimization strategy: Pol
Slide 12: Our priorities 2026 are aligned to strategic pillars
OUR PRIORITIES 2026 ARE ALIGNED TO STRATEGIC PILLARS 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
Slide 13: Management with 25+ years average tenure
MANAGEMENT WITH 25+ YEARS AVERAGE TENURE Experienced leadership team to navigate the current industry landscape Jorge Young José Carlos Pons Teresa Quintero CEO (36) CFO (30) CHRO (16) Alejandro Llovera Alejandro Alanis Andreas Plettner David Coindreau Roberto Blanco President President President Pr
Slide 14: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS COMPANY RESULTS THE CASE FOR PET APPENDIX 14
Slide 15: Financial results
FINANCIAL RESULTS Revenues (US$M) Sales Volume (KTon) 10,555 4,798 5,065 1,243 4,634 4,745 4,380 7,698 7,760 7,530 P&C 1,002 966 834 849 771 528 2,321 465 433 Others 6,585 1,556 1,614 572 P&C 2,342 1,316 Polyester 3,796 4,099 3,785 3,911 3,609 6,991 Polyester 4,828 5,739 5,483 4,697 2021 2022 2023 2
Slide 16: Resilient performance despite industry cyclicality
RESILIENT PERFORMANCE DESPITE INDUSTRY CYCLICALITY EBITDA vs FCF (US$M) 1,396 Avg. cash flow 962 generation of 800 789 654 637 734 699 ~370 M dls 601 462 489 in the last 10 years 570 489 492 518 443 442 433 104 163 Strong FCF Yield 253 203 15 16 17 18 19 20 21 22 23 24 25 EBITDA FCF Note: Comparable
Slide 17: Free cash flow generation
FREE CASH FLOW GENERATION FCF 2025 (US$M) 1,884 418 25 1,840 FCF 36 Solid cash flow generation 58 highlighting the Company’s $163 resilience amidst the 112 challenging environment 56 NWC Improved inventory levels and 138 working capital optimization, $50 supported stable raw material pricing environ
Slide 18: Healthy balance sheet: 4.2 years of debt maturity
HEALTHY BALANCE SHEET Consolidated Debt Profile Cash Bonds Bank Debt 4.2 YEARS OF DEBT MATURITY 628 Solid Credit Ratings 615 Coupon Coupon 4.250% 5.375% Coupon RATING: OUTLOOK: 448 Coupon 3.250% 5.375% 380 500 Ba1 Negative 600 235 BB+ Negative 102 113 128 7 15 BB+ Negative Cash 2026 2027 2028 2029 2
Slide 19: Alpek successfully completed merger process
ALPEK SUCCESFULLY COMPLETED MERGER PROCESS Following December 9, 2025, Alpek and Controladora Alpek completed the merger process Total Shares available: 2,100,590,126 with 100% Free Float Controladora Alpek has ceased to exist, and all Shareholders have received Alpek shares, consolidating our corpo
Slide 20: 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 21: Continued progress towards our main ESG targets
CONTINUED PROGRESS TOWARDS OUR MAIN ESG TARGETS Strong ESG Ratings performance 2021 2025 SAFETY SBTi CO2 (TRIR) Scope 1 & 2 Emissions (MTons) Climate C B 2.80 1.40 2030 Water C B SBTi 1.87 2.01 Target2 Risk 0.47 29 18 Rating Target Top Decile 2019 2025 2019 SBTi Base¹ 2025 Rating BB BBB 0 Accidents
Slide 22: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS COMPANY RESULTS THE CASE FOR PET APPENDIX 22
Slide 23: Not all plastics are the same: PET is #1 for a reason
It’s important to know: Not all plastics are the same PET is #1 for a reason 100% RECYCLABLE HDPE PVC LDPE RECYCLED AT HIGH RATES ONLY PLASTIC THAT CAN BE REMADE BACK TO ITS ORIGINAL PURPOSE PP PS OTHERS HOWEVER, THEY ALL GET BUNDLED TOGETHER, so let’s build The Case for PET! 23
Slide 24: So much more than just bottles
So much more antibacterial gel bottles than just bottles PET IS A BIG PART OF OUR LIVES AND IS PRESENT facemasks in many OF THE things we use every day jackets You can easily identify PET products, just look for the PERSONAL CARE FRUIT PACKAGING PACKAGING water bottles safety goggles sport shirts ju
Slide 25: PET has become the most widely used beverage packaging material
PET has become the most widely used beverage packaging material B EV ER A GE P A CK A GIN G R ET A IL / OF F-T R A DE ( B U N IT S ) 2010-2024 526 PET + 3.9% B UNITS 307 294 ALUMINUM + 2.3 % 214 197 199 GLASS + 0.1 % 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 25
Slide 26: PET's carbon footprint is 80% lower than glass or aluminum
PET’S CARBON FOOTPRINT There’s a big difference when looking at a new bottle... IS 80% LOWER THAN 182 gr. CO 2 187 gr. CO 5.1x 2 4.9x GLASS OR ALUMINUM WHICH MAKES IT THE RIGHT CHOICE FOR THE ENVIRONMENT (YES, REALLY) Let’s put it into 37 gr. CO 2 1.0x perspective» CARBON FOOTPRINT OVER LIFECYCLE, P
Slide 27: PET's carbon footprint is lower still with recycled materials
PET’S CARBON FOOTPRINT …that gets even bigger when using recycled materials! IS 80% LOWER THAN GLASS OR ALUMINUM WHICH MAKES IT THE RIGHT CHOICE FOR THE ENVIRONMENT (YES, REALLY) 90 gr. CO 2 9.0x Let’s put it into 31 gr. CO 2 10 gr. CO 3.0x perspective» 1.0x 2 CARBON FOOTPRINT OVER LIFECYCLE, PER 35
Slide 28: Production temperature of PET vs aluminum or glass
Just think about the temperature needed to produce PET vs. aluminum OR glass: GLASS IS MADE AT TEMPERATURES HOTTER THAN LAVA. 2,800°F ALUMINUM 1,200°F IS MADE AT A TEMPERATURE HOTTER THAN THE SURFACE OF VENUS. PET 480°F IS MADE AT THE SAME TEMPERATURE NEEDED TO MAKE A NICE SLICE OF PIZZA. 28
Slide 29: CO2 of a flight equals recycling 29,600 PET bottles
The CO2 emissions generated by 1 PERSON flying from NYC to San Francisco is equal to that from recycling 29,600 PET bottles enough to enjoy a drink with every one of your meals for the next 30 years 29
Slide 30: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS COMPANY RESULTS THE CASE FOR PET APPENDIX 30
Slide 31: Balance sheet accounts
BALANCE SHEET ACCOUNTS Net Working Capital (US$M) Property, Plant and Equipment (US$M) 1,165 2,502 2,424 2,285 2,275 876 1,914 655 602 577 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Net Debt (US$M) Stockholders’ Equity (US$M) 1,860 1,884 1,840 2,696 1,729 IFRS 16 2,409 1,967 1,185 1,653 1,535
Slide 32: State-of-the-art technology: PET and PTA production processes
Conventional Conventional Esterification Oxidation Post- Pre-Poly Oxidation Polymerization Crystallization Filtration and Pelletization Drying Precursosr CTA Storage Storage Precursor Feed Prep Preheating Low-cost production & Patents Crystallization Hydrogenation Annealing Crystallization Solid Sta
Slide 33: Our global footprint
OUR GLOBAL FOOTPRINT P PET rPET Country Site PTA Resin Sheet Flake Pellet SPT PP EPS Other Altamira 1,000 640 240 Mexico Cosoleacaque 610 185 15 (2,760) Lerma 70 Columbia, SC 640 725 Bay St. Louis, MS 430 15 USA Richmond, IN 66 31 (2,011) Darlington, SC 26 Painesville, OH 45 Cincinnati, OH 33 Canada
Slide 34: Our value chain
OUR VALUE CHAIN 0.66 ton PX 0.84 ton PTA per ton PTA per ton PET 0.80 ton Ethylene per ton EO 0.06 ton Pentane per ton EPS 0.79 ton Benzene per ton Styrene 0.94 ton Styrene 0.29 ton Ethylene per ton EPS (From Natural Gas) per ton Styrene 0.72 ton EO NAPHTHA per ton MEG 0.34 ton MEG per ton PET 1.01
Slide 35: Relevant references: paraxylene
RELEVANT REFERENCES | PARAXYLENE Px disconnection decreased to $184 per ton Px Contract Price (US$/Ton) 1,508 1,348 1,235 1,174 1,132 1,139 1,111 1,033 1,058 1,005 954 1,104 876 1,054 1,082 1,002 894 702 904 886 874 847 857 856 579 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q North Ameri
Slide 36: Relevant references: integrated PET margins
RELEVANT REFERENCES | INTEGRATED PET MARGINS Pressured but stable reference margins PET Integrated Margins | Px / MEG to PET (US$/Ton) 382 392 359 306 308 297 308 266 340 269 278 276 271 223 296 268 279 227 223 203 187 159 155 138 134 142 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q Asia
Slide 37: Relevant references: propylene
RELEVANT REFERENCES | PROPYLENE NA Propylene Contract Price | PGP (cpp) 72 54 51 49 45 45 -14% 43 39 38 34 33 36 31 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q 2025 37
Slide 38: Relevant references: polypropylene margins
RELEVANT REFERENCES | POLYPROPYLENE MARGINS NA Polypropylene Margins | PP to PGP (cpp) 45 34 24 25 22 21 - 19 18 15 17 13 15 14 14 14 14 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q 2025 38
Slide 39: Relevant references: EPS reference margins
RELEVANT REFERENCES | EPS REFERENCE MARGINS NA EPS Margin | EPS to Styrene (cpp) 56 +5% 38 40 36 35 32 31 33 31 31 30 26 27 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q 2025 39
Slide 40: Ocean freight prices
OCEAN FREIGHT PRICES Asia – Americas Spot Ocean Freight Rate (US$/Ton) 600 East Coast West Coast 500 South America 400 300 200 100 0 2018 2019 2020 2021 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2022 2023 2024 2025 40 Source: SCFI, prices based on 20-foot containers with 24-ton capacity from S
Slide 41: Stock highlights (BMV: ALPEK)
STOCK HIGHLIGHTS (BMV: ALPEK) Daily Stock Price (MXN) 40 30 Valuation 2021 2022 2023 2024 2025 20 10 0 Market Cap. (US$M) 2,282 2,810 2,208 1,456 1,079 Jan May Sep Jan May Sep Jan May Sep Dec Net Debt (US$M) 1,225 1,860 1,729 1,884 1,840 2023 2024 2025 EBITDA LTM (US$M) 1,145 1,455 514 646 418 Daily
Slide 42: How to: integrated PET reference margins
HOW TO: INTEGRATED PET REFERENCE MARGINS Methodology based on public information (Bloomberg) 0.66 ton PX per ton PTA 0.84 ton PTA per ton PET Three-Step Guide PET Margin = PET Price – (Yield PET from PTA * PTA Price) – (Yield PET from MEG * MEG Price) PX PTA PET 1 86 890 0.84 710 0.34 610 US$ / PET
Slide 43: Contact us for additional information
CONTACT US FOR ADDITIONAL INFORMATION BÁRBARA AMAYA (+13) ALEJANDRA BUSTAMANTE (+12) IRO | Strategic Planning | Corporate Finance IR Manager bamaya@alpek.com abustamante@alpek.com Email: IR@alpek.com 43
Slide 44: Disclaimer
DISCLAIMER This presentation contains, or may be deemed to contain, “forward-looking statements”. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The future results of Alpek
Slide 45: Institutional Presentation February 2026
INSTITUTIONAL PRESENTATION FEBRUARY 2026
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