Inspiring Tomorrow - Corporate Presentation

WORKING CAPITAL Through-the-cycle, working capital movements are typically balanced out Working Capital Evolution (1) Commentary (in $m) Working Capital 2019 A 2020A 2021A 607 897 877 2021PF (3) 919 Prepayments and Other Receivables 58 63 51 867 Amounts Due from Related Parties 436 722 746 147 Trade and Other Payables (499) (498) (449) (568) Current Portion of Amounts Due to Related Parties (44) (7) (178) (246) Inventories 656 617 708 718 Working Capital Days(4) Days Inventory Outstanding 91 Days Sales Outstanding 43 Days Payables Outstanding 75 188 22 93 81 70 53 60 72 82 92 Change in Net Working Capital(2) 488 Sources: Company Information 2019A (291) 2020A 20 بروج Borouge דיי Working capital levels are driven by: - DIO: Typically stable with moderate inventory build-up at year end in anticipation of February turnaround DSO: Pandemic impacted some transactions as Borouge granted extended payment terms, driving increase in DSO in 2020; expected to remain at current levels due to targeting of higher volume customers that require longer payment terms - DPO: Typically stable, linked to larger projects with past years impacted by PP5 ■ Working capital swings are mainly driven by prices and are expected to smooth out over the cycle 2021A 3) Unaudited pro forma financial information reflecting the combination of ADP and PTE as if it had occurred on 1-Jan-2021 DIO = Inventories * 365 / COGS incl. D&A, DSO = (Amounts Due from Related Parties + Prepayments and Other Receivables) * 365 / Revenue, DPO = (Trade and Other Payables + Amounts Due to Related Parties) * 365 COGS incl. D&A 2) 1) Working Capital equal to Net Current Assets (excl. Cash and Cash Equivalents and Current Portion of Lease and Pension Liabilities and Income Tax Payable). ADP only, except 2021 PF ADP only 4) 77 Corporate Presentation | April 2022 INSPIRING TOMORROW

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