YE-21 CAPEX and Cash Flow Forecast

CLASSIFICATION: C1 - CONTROLLED Net Profit Variance Analysis +781% (Amounts in QR' million) 932 33 -11 835 -179 -27 -8 95 YE-20 Price Variance Volume Variance COGS S,G&A Finance costs Others YE-21 QAMCO reported a net profit of QR 835 million, an increase in profitability by 781% compared to YE-20. QAMCO's YE-21 results were affected by Joint Venture performance mainly due to: ▸ Favorable movements a) Higher average realized prices (+42%) and efficient product mix leading to better premiums; b) Lower finance cost (-32%) due to reduced interest rates and absence of one-off unamortized portion of financing cost being written-off last year. ► Unfavorable movements a) Higher cost of goods sold, mainly on account higher raw material costs, partially offset by favorable inventory movements and cost optimization initiatives; b) Slightly lower sales volumes; c) Higher impairment compared to YE-20, on account of older assets being replaced with new AGP technology; d) Higher marketing fee amid higher selling prices; and higher shipping cost due to global supply chain constraints. 21 24 QAMCO, IR Presentation, YE-21

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