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CLASSIFICATION: CO NON-CONFIDENTIAL Macroeconomic updates Petrochemicals 1650 LDPE ($/MT) LLDPE ($/MT) 1150 650 Jan'20 Dec'20 Dec 21 Mar'22 Fertilizers 1100 Urea ($/MT) 600 100 Jan'20 Dec'20 Dec 21 Mar'22 Steel . • Demand for most of the petrochemicals slightly inched downward, as buyers remained cautious hoping for lower prices after reaching its peak in last year. Also, seasonal effects weighed on most of the commodities' demand, mainly during early parts of the year. Supply side was affected amid Russia-Ukraine conflict enforcing sharp rise in energy prices; specifically during latter part of 1Q-22, challenging plant economics. • During first two months of 2022, fertilizer prices demonstrated bearish trends; while starting from March'22 the prices started to demonstrate strength on account of higher energy prices and Russian sanctions posing uncertainty of supply interruptions. 950 Rebar ($/MT) 750 550 350 Jan'20 12 Dec'20 . • Dec 21 Mar'22 Steel prices continued its positive trajectory since Q4-20, underpinned by increase in steel demand linked to elevated construction activity, coupled with higher raw material costs internationally. However, prices during second half of 2021 have slightly softened after peaking until mid of 2021. Recently the prices again slightly started to pick-up. Prices within the domestic steel market remained aligned with international market trends. Note: Market prices have been sourced from Bloomberg with Asian benchmarks and may not reflect actual prices realized by IQ Industries Qatar, IR Presentation, 1Q-22

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