Inspiring Tomorrow - Corporate Presentation

81 Expenses 1) 2021A MEDIUM TERM INCOME STATEMENT TARGETS Revenues Sales Volumes Third Party Sales Product Prices & Premia Feedstock Costs 2,750ktpa PE capacity and 2,230ktpa PP capacity from 2022 onwards (incl. fully-ramped up PP5 plant and CMP) Utilization rates of ~95% for PE and -92% of PP in the near term OCU with ~800ktpa maximum propylene capacity; expected utilization rate of ~50-100%; ~50-60% in 2022 and 2023 Excess ethylene sales depending on utilization of the OCU; in case OCU less than 100% utilized, the excess ethylene is sold in the market Third party sales in line with Middle East, UAE and Asia sales disclosed in Borealis financial statements ($441m in 2021A) " PE and PP supply and demand dynamics expected to continue بروج Borouge 777 Average PE and PP premia over NEA benchmark of ~$200/t and ~$140/t, respectively Ethane until November 2027: Ethane price driven by PE and PP prices with a floor and a cap Ethane price effectively capped at the ceiling; current PE and PP prices (1) >20% above the cap Ethane from December 2027 onwards: - Ethane price based on PE prices with a floor and a cap with a reset upwards 2021A PE price implies an ethane price at the mid-point of the range Revised price formula expected to position Borouge in the first quartile of the PE cost curve Propylene prices are based on local netback prices which are -25% lower than market benchmarks (North-East Asia CFR) ~50% of propylene is sourced from ADNOC Refining and subject to the local net back prices, with the remaining -50% of propylene coming from internal Borouge sources (conversion of ethane) Operational Expenses Other variable and fixed production costs expected of -$1,600m, in line with 2021PF, subject to general cost inflation going forward G&A costs of ~$140m p.a., in line with 2021PF, subject to general cost inflation going forward S&M costs of -$480m p.a., in line with 2021PF, subject to general cost inflation going forward D&A On average $600m p.a., slightly above L3Y historical average Corporate Presentation | April 2022 INSPIRING TOMORROW

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