Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q3 2025 Earnings Presentation
21 slides from Lyondellbasell Industries Nv's earnings presentation, Oct 31, 2025
Slide 1: Third Quarter 2025 Earnings
Third Quarter 2025 Earnings October 31, 2025
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 Focus on safety remains our foundation for delivering reliable operations Injuries per 200,000 hours worked 0.4 0.3 0.2 0.1 2010-2014 2015-2019 2023 2024 September 2025 YTD LyondellBasell ACC Top Decile Sources: American Chemistry Council (ACC) and LyondellBasell. Notes: Medium an
Slide 4: Third quarter 2025 highlights
Third quarter 2025 highlights Improved operations and modest margin recovery amid prolonged market headwinds $(890) MM $(2.77) $(480) MM $983 MM Net loss Diluted loss per share EBITDA Cash from operating activities $330 MM $1.01 $835 MM $443 MM Net income Diluted earnings per share EBITDA Dividends
Slide 5: Mature markets showing signs of recovery
Mature markets showing signs of recovery Volume improvements reflecting resilient long-term demand growth trends Polyethylene domestic sales1,2 • U.S. domestic polyethylene sales volumes beginning 12 mo moving average, normalized to Jan 2012 KT to rebound after downturn that began in 2022 1.2 • Poly
Slide 6: Resilient global demand growth for polyolefins
Resilient global demand growth for polyolefins Demand growth supported by increased populations, urbanization and a rising middle class Global polyethylene demand and other macro indicators • Global polyolefins demand reliably returns to long-term (indexed to 100, 1990)1,2 500 growth trajectories fo
Slide 7: Capacity rationalization trends accelerating
Capacity rationalization trends accelerating Ethylene capacity closures expected to reduce impact of new capacity in China Expected closures & idling through 20281 Asia rationalization signaling global rebalancing MM t ~2.7-3.7 ~21.3 • China’s anti-involution policies expected to rationalize additio
Slide 8: Balancing capital allocation priorities
Balancing capital allocation priorities Maintaining investment-grade balance sheet remains foundational Delivering results USD, billions • $983 MM cash from operating activities in 3Q25 $3 • Achieved 135% cash conversion2 in 3Q25 Enhancing financial flexibility • $1.8 B cash and cash equivalents as
Slide 9: Delivering results on our 2025 Cash Improvement Plan
Delivering results on our 2025 Cash Improvement Plan On track for our $600 million 2025 target as part of our commitment to deliver $1.1 billion through 2026 Progress1 Our Actions Optimizing contract terms and aligning inventories with Trade Working Capital market demand Reducing fixed costs through
Slide 10: Cash generation improves amid difficult market conditions
Cash generation improves amid difficult market conditions Cash conversion remains resilient Cash conversion $2.7B Cash from operating activities 3Q25 last 12 months 98% 99% 96% $1.8B 88% 90% Cash and cash equivalents 83% September 30, 2025 3.6x Net debt to EBITDA ex. identified items September 30, 2
Slide 11: 3Q25 segment highlights
3Q25 segment highlights Less downtime, favorable feedstock costs, fixed cost reductions and improved oxyfuels margins offset by subdued licensing EBITDA variance by segment ex. identified items USD, millions $110 $2 $13 $7 $7 $835 $715 $(19) $606 $(480) 2Q25 O&P Americas O&P EAI I&D APS Technology O
Slide 12: Olefins & Polyolefins – Americas
Olefins & Polyolefins – Americas Channelview restart and strong volumes drive sequential earnings growth EBITDA ex. identified items 3Q25 market dynamics USD, millions • Operating rates remained high with robust production volumes supplying domestic and export markets $758 • Integrated PE margins im
Slide 13: Olefins & Polyolefins – Europe, Asia & International
Olefins & Polyolefins – Europe, Asia & International Improved operations offset margin pressures EBITDA ex. identified items Impairments USD, millions • $411 MM goodwill and other asset write-downs $81 $48 $46 $17 $2 3Q25 market dynamics • Fewer outages/operational constraints on LYB assets $(146) •
Slide 14: Intermediates & Derivatives
Intermediates & Derivatives Stronger oxyfuels results on improving octane margins offset by planned maintenance EBITDA ex. identified items 3Q25 market dynamics USD, millions • Higher value for octane and industry outages improved oxyfuels margins $317 $290 $303 • Styrene margins returned to typical
Slide 15: Advanced Polymer Solutions
Advanced Polymer Solutions Resilient performance supported by customer focus and cost discipline amid demand headwinds EBITDA ex. identified items Impairments USD, millions $47 • $782 MM goodwill and other asset write-downs $46 $40 3Q25 market dynamics $32 • Automotive demand declined on seasonal sh
Slide 16: Technology
Technology Slowing pace of global polyolefin capacity additions reflected in reduced licensing revenue EBITDA ex. identified items 3Q25 market dynamics USD, millions • Very low licensing activity reflecting significant slowdown of investment in new global petrochemical capacity $108 • Catalyst volum
Slide 17: Near-term market outlook
Near-term market outlook Year-end seasonality expected to pressure 4Q results • Exports playing an essential role in • Shift toward value-driven consumption Packaging is accelerating, supporting demand North balancing markets America • Feedstock-based cost advantage sustains competitiveness • Afford
Slide 18: Appendix
Appendix
Slide 19: LyondellBasell modeling information update
LyondellBasell modeling information update (USD, millions) 1Q25 2Q25 3Q25 4Q25 2025 Capital Expenditures1 Total CAPEX 2025 | 2026 Planned O&P Americas ~$105 ~$85 -- ~$40 ~$230 ~$1.7 B | ~$1.2 B maintenance 2025 Sustaining | Profit Generating CAPEX estimated EBITDA ~$1.2 B | ~$0.5 B impact O&P EAI --
Slide 20: 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 21: 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 aggregat
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