Alpek, S.a.b. De C.v. Class A · BMV:ALPEK/A
Alpek, S.a.b. De C.v. Class A — Investor Presentation (July 2025)
50 slides from Alpek, S.a.b. De C.v. Class A's investor presentation, July 2025
Slide 1: Institutional Presentation July 2025
INSTITUTIONAL PRESENTATION JULY 2025
Slide 2: Index
INDEX ALPEK AT A GLANCE STRATEGY AND COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES 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 2024 resulted in $7.5B USD 73% Sales 21% Sales 6% 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: Polyester: 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 5: Plastics & Chemicals: 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 6: Our global footprint
OUR GLOBAL FOOTPRINT POLYESTER P&C CAPACITY BY PRODUCT OTHER EPS 6% 5% PP 8% PTA rPET 35% 3% 8.0 9 COUNTRIES M Tons 34 PLANTS 43% +5,500 EMPLOYEES WORLDWIDE PET 6
Slide 7: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 7
Slide 8: 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 Achieving growth and dividend payments, maintaining solid financial strength and investment grade Experienc
Slide 9: Resilient end-markets account for 87% of volume
RESILIENT END-MARKETS ACCOUNT FOR 87% OF VOLUME 95% of sales are dollar-based Volume by Industry 2024 Sales Geography 2024 ME ASIA & OTHERS Housing & Construction EUR 3% Sales outside of MEX 13% Resilient End-Market 7% 1% 87% 67% USA/CAN SA 38% 19% Consumer Goods 18% Volume 2024 Sales 2024 4,745 Kto
Slide 10: Growth through key strategic acquisitions
GROWTH THROUGH KEY STRATEGIC ACQUISITIONS SALES VOLUME TOTAL CAPACITY OPERATIONS (KTONS) (MTONS) 2012 2024 +16% +23% 20 plants 34 plants 3 countries 9 countries 4,745 8 4,086 6.5 2012 2024 2012 2024 2012 2015-2016 2018 2019 2020 2021 2022 IPO (BMV) Styrenics Polyester PET acquisition (UK) Styrenics
Slide 11: Long-term strategy based on key pillars
LONG-TERM STRATEGY BASED ON 3 KEY PILLARS 1 STRENGTHEN CORE BUSINESS 3 STRATEGIC & FOCUSED GROWTH Value Chain Product M&A Global Cost Improvement Value-added Products Footprint Optimization GROWTH Integration Innovation Opportunities Drive competitiveness Shift to products with higher Ensure global
Slide 12: Management with 25+ years average experience
MANAGEMENT WITH 25+ YEARS AVERAGE EXPERIENCE Clear strategy & culture of empowerment ensure efficient operations Jorge Young José Carlos Pons Teresa Quintero CEO (34) CFO (27) CHRO (14) Alejandro Llovera Alejandro Alanis Andreas Plettner David Coindreau Roberto Blanco President President President P
Slide 13: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 13
Slide 14: Financial results
FINANCIAL RESULTS Sales Volume (KTon) Revenues (US$M) 1,179 1,245 1,218 1,234 2,815 1,161 P&C 2,050 1,849 1,922 Others 1,677 P&C Polyester Polyester 2Q21 2Q22 2Q23 2Q24 2Q25 2Q21 2Q22 2Q23 2Q24 2Q25 Reported EBITDA (US$M) CAPEX (US$M) 507 678 Comparable EBITDA 369 273 170 148 158 225 201 102 125 132
Slide 15: Free cash flow generation
FREE CASH FLOW GENERATION FCF YTD 2025 (US$M) 19 1,902 1,884 233 45 10 42 23 NWC 63 Higher inventory levels during Q1 were partially offset by -$48 48 sequentially lower raw material prices CAPEX Disciplined approach to capital allocation, on track to stay $88 within Guidance figures Operating FCF U
Slide 16: Free cash flow generation
FREE CASH FLOW GENERATION Free Cash Flow Leverage (US$M) (Times) 570 3.3 3.4 518 489 491 2.9 442 433 Target Average 2.5 389 2.1 1.6 1.7 1.6 253 203 1.3 1.1 104 16 17 18 19 20 21 22 23 24 16 17 18 19 20 21 22 23 24 16
Slide 17: Shareholder dividends
SHAREHOLDER DIVIDENDS US$1,500M delivered to 13.2 Shareholders 9.0 9.6 8.1 6.5% 5.9 5.6 7.2 average 3.0 3.4 3.4 dividend yield 2.1 372 US$150M average 183 dividend payment 161 143 143 143 132 100 114 111 95 2013 20141 2015 2016 2017 2019 20202 2021 2022 2023 2024 (1) Paid in December 2013 17 (1) Sho
Slide 18: Healthy balance sheet
HEALTHY BALANCE SHEET Consolidated Debt Profile* Cash Bonds Bank Debt 4.7 YEARS OF DEBT MATURITY* 668 Solid Credit Ratings 615 Coupon Coupon 4.250% 5.375% RATING: OUTLOOK: Coupon Coupon 435 3.250% 5.375% 500 380 Baa3 Negative 600 170 BBB- Stable 113 80 168 4 8 15 BBB- Stable Cash 2025 2026 2027 2028
Slide 19: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 19
Slide 20: Continued progress towards our main ESG targets
CONTINUED PROGRESS TOWARDS OUR MAIN ESG TARGETS Scope 1&2 Goal SAFETY SBTi CO2 Achieved (TRIR) Scope 1 & 2 Emissions (MTons) 1.40 2.80 2030 SBTi 1.89 2.01 Target2 0.51 Target Top Decile 2019 2024 2019 SBTi Base¹ 2024 0 Accidents 32% Across 10 Plants CO2 Emissions Reduction 63% 40% Reduction from bas
Slide 21: Maintaining our strong ESG performance
MAINTAINING OUR STRONG ESG PERFORMANCE S&P Global CSA B B B 1st improvement in last 5 years B- B- B- * C 26 26 59 59 Rating D Risk 54 20 BBB BBB Rating BB Climate Water Supply 2022 2023 2024 2022 2023 2024 2022 2023 2024 Change Chain 2022 2023 2024 25 19 7 BB BB BB 91 94 93 Chemical Industry Risk Av
Slide 22: Alpek's agrochemicals: Biovento
ALPEK’S AGROCHEMICALS: BIOVENTO® Patented organic fertilizer produced with microorganisms, the first of Alpek’s emerging agrochemical portfolio. PRODUCT HIGHLIGHTS: • Converts nitrogen in the air into nutrients that plants easily absorb, betters soil health • Increases crop production and quality wi
Slide 23: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 23
Slide 24: Update on our strategic vision
UPDATE ON OUR STRATEGIC VISION 1 2 3 4 Capitalize on Solidify the Boost Financial Emerging Core Growth Flexibility Trends Strengthen Expand into Investing in Strong balance efficiency, higher-value, innovation and sheet and competitiveness margin-accretive diversification disciplined capital and ada
Slide 25: Progressing towards vision of integrated hubs
PROGRESSING TOWARDS VISION OF INTEGRATED HUBS 1. ~$20M in expected annual savings by 2026 Cedar Creek 2. Production reallocated across global network, Facility maintaining efficiency and reliability phased shutdown 3. Aligned with long-term strategy to operate through most competitive assets to begi
Slide 26: Updated guidance to reflect current environment
UPDATED GUIDANCE TO REFLECT CURRENT ENVIRONMENT REVISED ORIGINAL METRICS UNITS GUIDANCE GUIDANCE Low End High End + Stable reference margins MARKET China PTA/PET Margin US$/Ton 140 150 160 + Polyester capacity rationalization + Improved trade conditions Polypropylene Margin CPP Unchanged 14 + Elevat
Slide 27: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 27
Slide 28: Not all plastics are the same
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! 28
Slide 29: 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 30: PET 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 30
Slide 31: 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 32: 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 33: Temperature needed to produce 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. 33
Slide 34: CO2 from 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 34
Slide 35: Index
INDEX ALPEK AT A GLANCE STRATEGY & COMPETITIVENESS FINANCIAL RESULTS ESG PROGRESS QUARTERLY UPDATES THE CASE FOR PET APPENDIX 35
Slide 36: Balance sheet accounts
BALANCE SHEET ACCOUNTS Net Working Capital (US$M) Property, Plant and Equipment (US$M) 1,165 2,502 2,424 2,285 876 1,934 1,914 608 655 602 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Net Debt (US$M) Stockholders’ Equity (US$M) 1,860 1,884 2,696 1,729 IFRS 16 2,409 2,281 1,967 1,185 1,225 1,653
Slide 37: State-of-the-art technology
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 38: 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 (2,790) Lerma 100 Fayetteville, NC 170 64 Columbia, SC 640 725 Bay St. Louis, MS 430 15 USA Richmond, IN 66 31 (2,409) Darlington, SC 26 Painesville, OH 45
Slide 39: 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 40: Relevant references | Paraxylene
RELEVANT REFERENCES | PARAXYLENE Px disconnection increased to $276 per ton Px Contract Price (US$/Ton) 1,508 1,348 1,341 1,293 1,235 1,174 1,132 1,073 1,111 992 1,033 1,005 954 1,104 876 1,054 1,082 1,063 1,083 985 894 702 879 904 847 857 856 579 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q 2Q 3
Slide 41: Relevant references | Integrated PET margins
RELEVANT REFERENCES | INTEGRATED PET MARGINS Slight increase in margins due to seasonality effects PET Integrated Margins | Px / MEG to PET (US$/Ton) 382 392 359 306 308 297 297 305 308 340 288 278 266 269 227 223 296 268 279 227 223 206 203 187 154 166 170 155 147 138 2015 2016 2017 2018 2019 2020
Slide 42: Relevant references | Propylene
RELEVANT REFERENCES | PROPYLENE NA Propylene Contract Price | PGP (cpp) 71 72 69 55 -16% 54 53 51 45 47 45 43 42 39 39 38 34 33 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 2024 2025 42
Slide 43: Relevant references | Polypropylene margins
RELEVANT REFERENCES | POLYPROPYLENE MARGINS NA Polypropylene Margins | PP to PGP (cpp) 45 34 24 25 22 21 0% 19 18 15 17 13 15 15 15 15 14 14 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 2024 2025 43
Slide 44: Relevant references | EPS reference margins
RELEVANT REFERENCES | EPS REFERENCE MARGINS NA EPS Margin | EPS to Styrene (cpp) 56 43 +6% 36 35 36 32 31 33 31 30 26 27 26 18 2016 2017 2018 2019 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 2024 2025 44
Slide 45: Ocean freight prices
OCEAN FREIGHT PRICES Asia – Americas Spot Ocean Freight Rate (US$/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 2022 2023 2024 2025 45 Source: SCFI, prices based on 20-foot containers with 24-ton capacity from Shangha
Slide 46: Stock highlights (BMV: ALPEK)
STOCK HIGHLIGHTS (BMV: ALPEK) Daily Stock Price (MXN) 35 30 25 Valuation 2021 2022 2023 2024 20 15 10 Market Cap. (US$M) 2,282 2,810 2,208 1,456 Jan May Sep Jan May Sep Jan May Sep Dec Net Debt (US$M) 1,225 1,860 1,729 1,884 2022 2023 2024 EBITDA LTM (US$M) 1,145 1,455 514 646 Daily Average Traded S
Slide 47: How to: Integrated PET reference margins
HOW TO: INTEGRATED PET REFERENCE MARGINS Methodology based on public information (Bloomberg) 0.66 ton PX per ton PTA 0.84 ton PTA per ton PET Three-Step Guide PET Margin = PET Price – (Yield PET from PTA * PTA Price) – (Yield PET from MEG * MEG Price) PX PTA PET 1 86 890 0.84 710 0.34 610 US$ / PET
Slide 48: 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 48
Slide 49: 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 50: Institutional Presentation July 2025
INSTITUTIONAL PRESENTATION JULY 2025