Inspiring Tomorrow - Corporate Presentation

ETHANE FEEDSTOCK PRICE SENSITIVITIES The ethane price formula is linked to PE prices Illustrative Impact of Ethane Feedstock Prices on EBITDA (From Dec-27 Onwards) Feedstock Price Sensitivities (2021A Production Volumes Adjusted for PP5 Ramp-up) Current Spot Prices (March '22) L10Y Avg. Prices ('12-'21) Polyethylene Benchmark Sensitized Benchmark Prices ($400/t) ($200/t) ($100/t) +$0/t +$100/t + $200/t +$400/t 1,184 690 890 990 1,090 1,190 1,290 1,490 (NE Asia CFR, in $ / t) 1,133 1,050 500 250 Approximate Change in Revenues & Costs (in $m) (250) (350) (500X500) (600) (750) (1,050) (850) (1,000) (1,150) ■Additional Revenue Additional Costs Approximate Adjusted EBITDA Impact (in $m) (1,400) (1,000) (850) (750) (600) (500) (100) Adjusted EBITDA vs. Reference Reference Point (in $m) (650) (250) (100) +150 +250 +650 Point 1) Change in benchmark prices applied on PE prices relative to 2021A prices 73 Corporate Presentation | April 2022 777 بروج Borouge Commentary ■ Linear ethane to PE price relationship to continue with a revised ethane price floor and cap from December 2027 onwards (floor and cap to be higher than current levels) Change in revenue based on PE production volumes times change in benchmark price Change in costs based on ethane purchase volume times revised ethane purchase price based on post November 2027 price formula reset All other costs are held constant Ethane feedstock cost increases would be mitigated by higher revenues if PE prices are higher than reference 2021A prices For the purposes of this analysis, we are assuming PP prices don't change INSPIRING TOMORROW

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