SOFP

Assets 2017 2018 2019 2020 2021

Cash & cash equivalents 2,830 1,224 1,054 2,465 1,481
Restricted cash 5 69 30 2 5
Accounts receivable 3,539 3,503 3,102 3,441 4,808
Inventory 4,217 4,515 4,588 4,344 4,901
Other current assets 1,147 1,255 736 1,382 1,022
Current assets 11,738 10,566 9,510 11,634 12,217
Operating lease assets 0 0 1,468 1,492 1,946
Property, Plant & Equipment 10,997 12,477 14,130 14,386 14,556
Property, Plant & Equipment 10,997 12,477 15,598 15,878 16,502
Equity investment 2,055 2,080 2,106 4,729 4,786
Goodwill 570 1,814 1,891 1,953 1,875
Intangible assets 568 965 869 751 695
Other non-current assets 278 376 461 458 667
Non-current assets 14,468 17,712 20,925 23,769 24,525
Total assets 26,206 28,278 30,435 35,403 36,742

Liabilities and Equity 2017 2018 2019 2020 2021

Short-term borrowings 70 890 448 671 368
Accounts payable 2,895 3,087 2,928 2,948 4,291
Other current liabilities 1,812 1,536 1,822 1,883 2,571
Current liabilities 4,777 5,513 5,198 5,502 7,230
Long-term borrowings 8,549 8,497 11,614 15,286 11,246
Deffered income taxes 1,655 1,975 2,015 2,332 2,334
Other non-current liabilities 2,275 1,897 3,429 4,179 3,944
Non-current liabilities 12,479 12,369 17,058 21,797 17,524
Total liabilities 17,256 17,882 22,256 27,299 24,754
Share capital & premium 10,237 7,063 5,973 6,005 6,063
Treasury shares (15,749) (2,206) (580) (531) (965)
Retained earnings 15,746 6,763 4,435 4,440 8,563
Other reserves (1,285) (1,363) (1,784) (1,943) (1,803)
Owners' equity 8,949 10,257 8,044 7,971 11,858
Non-controlling interests 1 139 135 133 130
Total equity 8,950 10,396 8,179 8,104 11,988
Total liabilities & equity 26,206 28,278 30,435 35,403 36,742
0 0 0 0 0
IS

2017 2018 2019 2020

Revenue 34,484 39,004 34,727 27,753
Cost-of-goods sold (28,059) (32,529) (29,301) (24,359)
Selling and distribution costs (859) (1,129) (1,199) (1,140)
Cost-of-sales (28,918) (33,658) (30,500) (25,499)
Gross profit 5,566 5,346 4,227 2,254
R&D expense 106 115 111 113
Other operating expenses 0 0 0 582
Core operating profit 5,460 5,231 4,116 1,559
Other income 500 395 264 341
Interest income 24 45 19 12
Operating profit (PBIT) 5,984 5,671 4,399 1,912
Lease expenses
Interest expenses (491) (360) (347) (526)
Finance expenses (491) (360) (347) (526)
Profit before tax 5,493 5,311 4,052 1,386
Tax expenses (598) (613) (648) 43
Income from continuing operations 4,895 4,698 3,404 1,429
Loss from discontinued operations (18) (8) (7) (2)
Profit after tax (underlying) 4,877 4,690 3,397 1,427
Profit attributable to owners 4,879 4,688 3,390 1,420
Profit due to minority interests (non-controlling interests) 2 (2) (7) (7)

Financial derivatives (45) 54 (132) (226)

Unrealised losses/gains of available-for-sale securities 16 0 0 1
Defined benefit pension ans other post-retirement benefit plans 77 30 (269) (41)
Foreign currency translations 178 (92) (20) 107
Reported profit after tax 5,103 4,682 2,976 1,268
5,105 4,680 2,969 1,261
 SOCF

2021 2017 2018 2019 2020

46,173 Profit after tax 4,877 4,690 3,397 1,427
(37,397) Interest income (24) (45) (19) (12)
(1,255) Interest expense 491 360 347 526
(38,652) Net financial expense 467 315 328 514
7,521 Depreciation and amortization 1,174 1,241 1,312 1,385
124 Share-base compensation 55 39 48 55
624 Impairments 0 0 0 582
6,773 Other non-cash items (523) 274 253 368
523 Equity investment income (120) (18) 22 (97)
9 Change in non-cash working capital (257) (755) (71) (316)
7,305 Cash flow from operating activities 5,673 5,786 5,289 3,918
5,206 5,471 4,961 3,404
(519)
(519) 2017 2018 2019 2020
6,786 Interest income 24 45 19 12
(1,163) Purchase of PP&E (1,547) (2,105) (2,694) (1,947)
5,623 Purchase of intangibles 0 (1,776) 0 0
(6) Purchase of financial assets (1,823) (1,192) (141) (878)
5,617 Acquisition of equity method investment 0 0 0 (2,440)
5,610 Proceeds from sales of financial assets 1,719 1,665 1,370 427
(7) Other investment expense (105) (151) (170) (68)
Cash flow from investing activities (1,732) (3,514) (1,616) (4,894)
72 (1,756) (3,559) (1,635) (4,906)
(1)
224 2017 2018 2019 2020
(155) Dividends paid (1,415) (1,554) (1,462) (1,405)
5,757 Repurchase of company ordinary shares (866) (1,854) (3,752) (4)
5,750 Interest expense (491) (360) (347) (526)
Proceeds from bond issuance 990 0 5,031 6,378
Repayment of long-term debt (1,000) (394) (2,974) (2,880)
Debt-related costs (73) 0 (22) (140)
Proceeds from short-term debt issuance 0 0 2,500 521
Repayment of short-term debt 0 0 (1,526) (506)
Net proceeds from commercial paper (493) 810 (549) 239
Derivatives contract charges 0 0 0 113
Other financing expense (2) (16) (81) (45)
Cash flow from financing activities (3,350) (3,368) (3,182) 1,745
(2,859) (3,008) (2,835) 2,271

Effect of exchange rates on cash 59 (31) (4) 108

Increase (decrease) in cash position 650 (1,127) 487 877
Starting cash position 878 1,528 401 888
Ending cash position 1,528 401 888 1,765
650 (1,127) 487 877
 2021
5,617
(9)
519
510
1,393
66
624
(163)
(146)
304
8,205
7,695

2021
9
(1,959)
0
(355)
(106)
1,039
(121)
(1,493)
(1,502)

2021
(1,486)
(463)
(519)
0
(3,925)
(153)
0
0
(296)
(49)
(13)
(6,904)
(6,385)

(96)
(288)
1,765
1,477
(288)
Statement of Financial Position
December 31,
Millions of dollars 2021 2020 2019 2018 2017
ASSETS
Cash and cash equivalents $ 1,472 $ 1,763 $ 858 $ 332 $ 1,523
Restricted cash 5 2 30 69 5
Short-term investments 9 702 196 892 1,307
Accounts receivable:
Trade, net 4,565 3,291 2,981 3,355 3,359
Related parties 243 150 121 148 180
Inventories 4,901 4,344 4,588 4,515 4,217
Prepaid expenses and other current assets 1,022 1,382 736 1,255 1,147
Total current assets 12,217 11,634 9,510 10,566 11,738
Operating lease assets 1,946 1,492 1,468
Property, plant and equipment, net 14,556 14,386 14,130 12,477 10,997
Investments and long-term receivables:
Investment in PO joint ventures 504 469 420
Equity investments 4,786 4,729 1,602 1,611 1,635
Other investments and long-term receivables 22 23 17
Goodwill 1,875 1,953 1,891 1,814 570
Intangible assets, net 695 751 869 965 568
Other assets 667 458 439 353 261
Total assets $ 36,742 $ 35,403 $ 30,435 $ 28,278 $ 26,206

LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY

Current liabilities:
Current maturities of long-term debt $ 6 $ 8 $ 3 $ 5 $ 2
Short-term debt 362 663 445 885 68
Accounts payable:
Trade 3,460 2,398 2,516 2,560 2,258
Related parties 831 550 412 527 637
Accrued liabilities 2,571 1,883 1,822 1,536 1,812
Total current liabilities 7,230 5,502 5,198 5,513 4,777
Long-term debt 11,246 15,286 11,614 8,497 8,549
Operating lease liabilities 1,649 1,222 1,216
Other liabilities 2,295 2,957 2,213 1,897 2,275
Deferred income taxes 2,334 2,332 2,015 1,975 1,655
Commitments and contingencies
Redeemable non-controlling interests 116 116 116 116
Shareholders’ equity:
Ordinary shares, €0.04 par value, 1,275 mil 19 19 19 22 31
Additional paid-in capital 6,044 5,986 5,954 7,041 10,206
Retained earnings 8,563 4,440 4,435 6,763 15,746
Accumulated other comprehensive loss (1,803) (1,943) (1,784) (1,363) (1,285)
Treasury stock, at cost, 10,675,605 and 6,03 (965) (531) (580) (2,206) (15,749)
Total Company share of shareholders’ equit 11,858 7,971 8,044 10,257 8,949
Non-controlling interests 14 17 19 23 1
Total equity 11,872 7,988 8,063 10,280 8,950
Total liabilities, redeemable non-controllin $ 36,742 $ 35,403 $ 30,435 $ 28,278 $ 26,206
Assets 2021 2020 2019 2018 2017
Cash & cash equivalents 1,481 2,465 1,054 1,224 2,830
Cash & cash equiv 1,472 1,763 858 332 1,523
Short-term invest 9 702 196 892 1,307
Restricted cash 5 2 30 69 5
Trade receivables and others 4,808 3,441 3,102 3,503 3,539
Trade receivables 4,565 3,291 2,981 3,355 3,359
Related parties re 243 150 121 148 180
Inventory 4,901 4,344 4,588 4,515 4,217
Other current assets (prepaid expenses 1,022 1,382 736 1,255 1,147
Current assets 12,217 11,634 9,510 10,566 11,738
Operating lease assets 1,946 1,492 1,468 0 0
Property, Plant & Equipment 14,556 14,386 14,130 12,477 10,997
Property, Plant & Equipment 16,502 15,878 15,598 12,477 10,997
Equity investment 4,786 4,729 2,106 2,080 2,055
Investment in PO j 0 0 504 469 420
Equity investment 4,786 4,729 1,602 1,611 1,635
Goodwill 1,875 1,953 1,891 1,814 570
Intangible assets 695 751 869 965 568
Other non-current assets 667 458 461 376 278
Other investments 0 0 22 23 17
Other assets 667 458 439 353 261
Non-current assets 24,525 23,769 20,925 17,712 14,468
Total assets 36,742 35,403 30,435 28,278 26,206

Liabilities and Equity 2021 2020 2019 2018 2017

Short-term borrowings 368 671 448 890 70
Trade receivables and others 6,862 4,831 4,750 4,623 4,707
Trade payable 3,460 2,398 2,516 2,560 2,258
Related parties pa 831 550 412 527 637
Accrued liabilities 2,571 1,883 1,822 1,536 1,812
Current liabilities 7,230 5,502 5,198 5,513 4,777
Long-term debt 11,246 15,286 11,614 8,497 8,549
Deffered income taxes 2,334 2,332 2,015 1,975 1,655
Other non-current liabilities 3,944 4,179 3,429 1,897 2,275
Operating lease liab 1,649 1,222 1,216 0 0
Other liabilities 2,295 2,957 2,213 1,897 2,275
Non-current liabilities 17,524 21,797 17,058 12,369 12,479
Total liabilities 24,754 27,299 22,256 17,882 17,256
Share capital & premium 6,063 6,005 5,973 7,063 10,237
Ordinary shares 19 19 19 22 31
Share premium 6,044 5,986 5,954 7,041 10,206
Treasury shares (965) (531) (580) (2,206) (15,749)
Retained earnings 8,563 4,440 4,435 6,763 15,746
Other reserves (1,803) (1,943) (1,784) (1,363) (1,285)
Owners' equity 11,858 7,971 8,044 10,257 8,949
Non-controlling interests 130 133 135 139 1
 Redeemable non-co 116 116 116 116 0
Non-controlling in 14 17 19 23 1
Total equity 11,988 8,104 8,179 10,396 8,950
Total liabilities & equity 36,742 35,403 30,435 28,278 26,206
0 0 0 0 0
Comprehensive Income Statement

Millions of dollars, except earnings per share 2021 2020 2019 2018
Sales and other operating revenues:
Trade $ 45,135 $ 26,995 $ 33,908 $ 38,126
Related parties 1,038 758 819 878
46,173 27,753 34,727 39,004
Operating costs and expenses:
Cost of sales 37,397 24,359 29,301 32,529
Impairments 624 582
Selling, general and administrative expenses 1,255 1,140 1,199 1,129
Research and development expenses 124 113 111 115
39,400 26,194 30,611 33,773
Operating income 6,773 1,559 4,116 5,231
Interest expense (519) (526) (347) (360)
Interest income 9 12 19 45
Other income, net 62 85 39 106
Income from continuing operations before equity investments 6,325 1,130 3,827 5,022
Income from equity investments 461 256 225 289
Income from continuing operations before income taxes 6,786 1,386 4,052 5,311
Provision for (benefit from) income taxes 1,163 (43) 648 613
Income from continuing operations 5,623 1,429 3,404 4,698
Loss from discontinued operations, net of tax (6) (2) (7) (8)
Net income 5,617 1,427 3,397 4,690
Net loss attributable to non-controlling interests
Net income attributable to LyondellBasell Industries N.V. 4,690
Dividends on redeemable non-controlling interests (7) (7) (7) (2)
Net income attributable to the Company shareholders $ 5,610 $ 1,420 $ 3,390 $ 4,688

Earnings per share:

Net income (loss) attributable to the Company shareholders —
Basic:
Continuing operations $ 16.79 $ 4.25 $ 9.61 $ 12.06
Discontinued operations (0.02) (0.01) (0.02) (0.02)
$ 16.77 $ 4.24 $ 9.59 $ 12.04
Diluted:
Continuing operations $ 16.77 $ 4.25 $ 9.60 $ 12.03
Discontinued operations (0.02) (0.01) (0.02) (0.02)
$ 16.75 $ 4.24 $ 9.58 $ 12.01

Millions of dollars 2021 2020 2019 2018

Net income $ 5,617 $ 1,427 $ 3,397 $ 4,690
Other comprehensive income (loss), net of tax—
Financial derivatives 72 (226) (132) 54
Unrealized (losses) gains on available-for-sale debt securities (1) 1
Unrealized gains on equity securities and equity securities held by equity investees
Defined benefit pension and other post-retirement benefit plan 224 (41) (269) 30
Foreign currency translations (155) 107 (20) (92)
Total other comprehensive income (loss), net of tax 140 (159) (421) (8)
Comprehensive income 5,757 1,268 2,976 4,682
Dividends on redeemable non-controlling interests (7) (7) (7) (2)
Comprehensive loss attributable to non-controlling interests —
Comprehensive income attributable to the Company shareholde $ 5,750 $ 1,261 $ 2,969 $ 4,680
 2021 2020
Revenue 46,173 27,753
Trade 45,135 26,995
Related parties 1,038 758
2017 Cost-of-goods sold (37,397) (24,359)
Selling and distribution costs (1,255) (1,140)
$ 33,705 Cost-of-sales (38,652) (25,499)
779 Gross profit 7,521 2,254
34,484 R&D expense (124) (113)
Other operating expenses (624) (582)
28,059 Core operating profit 6,773 1,559
Other income 523 341
859 Other income 62 85
106 Income from equity inve 461 256
29,024 Interest income 9 12
5,460 Operating profit (PBIT) 7,305 1,912
(491) Interest expenses (519) (526)
24 Profit before tax 6,786 1,386
179 Tax expenses (1,163) 43
5,172 Income from continuing operations 5,623 1,429
321 Loss from discontinued operations (6) (2)
5,493 Profit after tax (underlying) 5,617 1,427
598 Profit attributable to owners 5,610 1,420
4,895 Profit due to non-controlling interests (7) (7)
(18)
4,877 Financial derivatives 72 (226)
2 Unrealised losses/gains of available-for-sale securities (1) 1
4,879 Defined benefit pension and other post-retirement benefit plans 224 (41)
Foreign currency translations (155) 107
$ 4,879 Reported profit after tax 5,757 1,268
Comprehensive income attributable to owners 5,750 1,261
Comprehensive income due to non-controlling interests (7) (7)

$ 12.28
(0.05)
$ 12.23

$ 12.28
(0.05)
$ 12.23

2017
$ 4,877

(45)
(1)
 17
77
178
226
5,103
—
2
$ 5,105
 2019 2018 2017
34,727 39,004 34,484
33,908 38,126 33,705
819 878 779
(29,301) (32,529) (28,059)
(1,199) (1,129) (859)
(30,500) (33,658) (28,918)
4,227 5,346 5,566
(111) (115) (106)
0 0 0
4,116 5,231 5,460
264 395 500
39 106 179
225 289 321
19 45 24
4,399 5,671 5,984
(347) (360) (491)
4,052 5,311 5,493
(648) (613) (598)
3,404 4,698 4,895
(7) (8) (18)
3,397 4,690 4,877
3,390 4,688 4,879
(7) (2) 2

(132) 54 (45)
0 0 16
(269) 30 77
(20) (92) 178
2,976 4,682 5,103
2,969 4,680 5,105
(7) (2) 2
Statement of Cash Flows

Millions of dollars 2021 2020 2019 2018

Cash flows from operating activities:
Net income $ 5,617 $ 1,427 $ 3,397 $ 4,690
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 1,393 1,385 1,312 1,241
Impairments 624 582
Amortization of debt-related costs 35 21 11 14
Charges related to repayment of debt
Share-based compensation 66 55 48 39
Inventory valuation charges 16 33
Equity investments—
Equity income (461) (256) (225) (289)
Distributions of earnings, net of tax 315 159 247 307
Deferred income tax (benefit) provision (198) 331 209 260
Gain on sales of business and equity investments (36)
Changes in assets and liabilities that provided (used) cash:
Accounts receivable (1,519) (246) 367 433
Inventories (742) 340 (129) (141)
Accounts payable 1,301 217 (251) (199)
Other, net 1,264 (627) (58) (848)
Net cash provided by operating activities 7,695 3,404 4,961 5,471
Cash flows from investing activities:
Expenditures for property, plant and equipment (1,959) (1,947) (2,694) (2,105)
Acquisition of A. Schulman, net of cash acquired (1,776)
Payments for repurchase agreements
Proceeds from repurchase agreements 527
Purchases of available-for-sale debt securities (270) (108) (50)
Proceeds from sales and maturities of available-for-sale debt 346
securities 114 511 423
Proceeds from maturities of held-to-maturity securities
Purchases of equity securities (608) (33) (64)
Proceeds from equity securities 335 313 332 97
Net proceeds from sales of business and equity investments 37
Acquisition of equity method investment (106) (2,440)
Proceeds from settlement of net investment hedges 358 1,108
Payments for settlement of net investment hedges (355) (1,078)
Other, net (121) (68) (170) (151)
Net cash used in investing activities ($1,502) ($4,906) ($1,635) (3,559)

Millions of dollars 2021 2020 2019 2018

Cash flows from financing activities:
Repurchases of Company ordinary shares ($463) ($4) ($3,752) (1,854)
Dividends paid - common stock (1,486) (1,405) (1,462) (1,554)
Purchase of non-controlling interest (30) (63)
Issuance of long-term debt 6,378 5,031
Payments of debt issuance costs (3) (63) (22)
Repayments of long-term debt (3,925) (2,880) (2,974) (394)
Debt extinguishment costs (150) (77)
Issuance of short-term debt 521 2,500
Repayments of short-term debt (506) (1,526)
Net (repayments of) proceeds from commercial paper (296) 239 (549) 810
Collateral paid for interest rate derivatives (238)
Proceeds from settlement of cash flow hedges 855 346
Payment for settlement of cash flow hedges (904)
Proceeds from settlement of foreign currency contract 887
Payments for settlement of foreign currency contract (882)

Other, net (13) (15) (18) (16)

Net cash (used in) provided by financing activities (6,385) 2,271 (2,835) (3,008)
Effect of exchange rate changes on cash (96) 108 (4) (31)
(Decrease) increase in cash and cash equivalents and
restricted cash (288) 877 487 (1,127)
Cash and cash equivalents and restricted cash at beginning of
period
Cash and cash equivalents and restricted cash at end of 1,765 888 401 1,528
period $ 1,477 $ 1,765 $ 888 $ 401
Supplemental Cash Flow Information:
Interest paid, net of capitalized interest $ 414 $ 498 $ 318 $ 333
Net income taxes paid 310 176 403 $ 1,209
$ (288) $ 877 $ 487 $ (1,127)
 Cash flows from operating activities 2021 2020
Profit after tax 5,617 1,427
Net financial expense 510 514
Interest income (9) (12)
2017 Interest expense 519 526
Depreciation and amortization 1,393 1,385
$ 4,877 Other non-cash items 527 1,005
Impairments 624 582
1,174 Amortization of debt-rela 35 21
Changes related to repay 0 0
15 Share-base compensatio 66 55
49 Inventory valuation char 0 16
55 Deferred income tax (198) 331
Investment income (146) (97)
Equity income (461) (256)
(321) Distributions of earnings, 315 159
309 Gain on sales of business 0 0
(587) Change in non-cash working capital 304 (316)
(108) Accounts receivable (1,519) (246)
Inventories (742) 340
(521) Account payable 1,301 217
(237) Other, net 1,264 (627)
165 Cash flow from operating activities 8,205 3,918
336 7,695 3,404
5,206
Cash flows from investing activities
(1,547) Interest income 9 12
Purchase of PP&E (1,959) (1,947)
(512) Acquisition of A.Schulman 0 0
381 Purchase of financial assets, net 578 (2,891)
(653) Purchase of financial asse (355) (878)

499 Acquisition of equity me (106) (2,440)

75 Proceeds from sales of fin 1,039 427
Other investment expense (121) (68)
Cash flow from investing activities (1,493) (4,894)
155 (1,502) (4,906)

609 Cash flows from financing activities

(658) Dividends paid (1,486) (1,405)
(105) Repurchase of company ordinary shares (463) (4)
(1,756) Interest expense (519) (526)
Drawdowns of debt (4,374) 3,612
2017 Proceeds from bond issu 0 6,378
Repayment of long-term (3,925) (2,880)
(866) Debt-related costs (153) (140)
(1,415) Proceeds from short-term 0 521
 Repayment of short-term 0 (506)
990 Net proceeds from comme (296) 239
(8) Other financing expense (62) 68
(1,000) Purchase of non-controlli 0 (30)
(65) Derivatives contract char (49) 113
Other, net (13) (15)
Cash flow from financing activities (6,904) 1,745
(493) (6,385) 2,271

Effect of exchange rates on cash (96) 108

Increase (decrease) in cash position (288) 877
Starting cash position 1,765 888
Ending cash position 1,477 1,765
(288) 877
0 0
(2)
(2,859)
59

650

878
$ 1,528

$ 333
$ 1,044
$ 650
 2019 2018 2017
3,397 4,690 4,877
328 315 467
(19) (45) (24)
347 360 491
1,312 1,241 1,174
301 313 (468)
0 0 0
11 14 15
0 0 49
48 39 55
33 0 0
209 260 (587)
22 (18) (120)
(225) (289) (321)
247 307 309
0 (36) (108)
(71) (755) (257)
367 433 (521)
(129) (141) (237)
(251) (199) 165
(58) (848) 336
5,289 5,786 5,673
4,961 5,471 5,206

19 45 24
(2,694) (2,105) (1,547)
0 (1,776) 0
1,229 473 (104)
(141) (1,192) (1,823)

0 0 0
1,370 1,665 1,719
(170) (151) (105)
(1,616) (3,514) (1,732)
(1,635) (3,559) (1,756)

(1,462) (1,554) (1,415)

(3,752) (1,854) (866)
(347) (360) (491)
2,460 416 (576)
5,031 0 990
(2,974) (394) (1,000)
(22) 0 (73)
2,500 0 0
(1,526) 0 0
(549) 810 (493)
(81) (16) (2)
(63) 0 0
0 0 0
(18) (16) (2)
(3,182) (3,368) (3,350)
(2,835) (3,008) (2,859)

(4) (31) 59
487 (1,127) 650
401 1,528 878
888 401 1,528
487 (1,127) 650
0 0 0
 BS FOR PERFORMANCE APPRAISAL

$M 2021 2020 2019 2018 2017

Assets
Cash & cash equivalents 1,481 2,465 1,054 1,224 2,830
Cash & cash equivalents 1,472 1,763 858 332 1,523
Short-term investments 9 702 196 892 1,307
Restricted cash 5 2 30 69 5
Trade receivables and others 4,808 3,441 3,102 3,503 3,539
Trade receivables 4,565 3,291 2,981 3,355 3,359
Related parties receivables 243 150 121 148 180
Inventory 4,901 4,344 4,588 4,515 4,217
Other current assets (prepaid expenses) 1,022 1,382 736 1,255 1,147
Current assets 12,217 11,634 9,510 10,566 11,738
Property, Plant & Equipment 16,502 15,878 15,598 12,477 10,997
Operating lease assets 1,946 1,492 1,468 0 0
Property, Plant & Equipment 14,556 14,386 14,130 12,477 10,997
Equity investment 4,786 4,729 2,106 2,080 2,055
Investment in PO joint ventures 0 0 504 469 420
Equity investments 4,786 4,729 1,602 1,611 1,635
Goodwill 1,875 1,953 1,891 1,814 570
Intangible assets 695 751 869 965 568
Other non-current assets 667 458 461 376 278
Other investments and long-term 0 0 22 23 17
Other assets 667 458 439 353 261
Non-current assets 24,525 23,769 20,925 17,712 14,468
Total assets 36,742 35,403 30,435 28,278 26,206

Liabilities and Equity 2021 2020 2019 2018 2017

Short-term borrowings 368 671 448 890 70
Trade receivables and others 6,862 4,831 4,750 4,623 4,707
Trade payable 3,460 2,398 2,516 2,560 2,258
Related parties payable 831 550 412 527 637
Accrued liabilities 2,571 1,883 1,822 1,536 1,812
Current liabilities 7,230 5,502 5,198 5,513 4,777
Long-term debt 11,246 15,286 11,614 8,497 8,549
Deffered income taxes 2,334 2,332 2,015 1,975 1,655
Other non-current liabilities 3,944 4,179 3,429 1,897 2,275
Operating lease liabilities 1,649 1,222 1,216 0 0
Other liabilities 2,295 2,957 2,213 1,897 2,275
Non-current liabilities 17,524 21,797 17,058 12,369 12,479
Total liabilities 24,754 27,299 22,256 17,882 17,256
Share capital & premium 6,063 6,005 5,973 7,063 10,237
Ordinary shares 19 19 19 22 31
Share premium 6,044 5,986 5,954 7,041 10,206
Treasury shares (965) (531) (580) (2,206) (15,749)
Retained earnings 8,563 4,440 4,435 6,763 15,746
Other reserves (1,803) (1,943) (1,784) (1,363) (1,285)
Owners' equity 11,858 7,971 8,044 10,257 8,949
Non-controlling interests 130 133 135 139 1
Redeemable non-controlling inte 116 116 116 116 0
Non-controlling interests 14 17 19 23 1
Total equity 11,988 8,104 8,179 10,396 8,950
Total liabilities & equity 36,742 35,403 30,435 28,278 26,206
0 0 0 0 0
 BS FOR EARNING FORECAST

$M 2021 2020 2019 2018 2017

Assets
Cash & cash equivalents 1,481 2,465 1,054 1,224 2,830
Restricted cash 5 2 30 69 5
Trade receivables and others 4,808 3,441 3,102 3,503 3,539
Inventory 4,901 4,344 4,588 4,515 4,217
Other current assets 1,022 1,382 736 1,255 1,147
Current assets 12,217 11,634 9,510 10,566 11,738
Property, Plant & Equipment 16,502 15,878 15,598 12,477 10,997
Equity investment 4,786 4,729 2,106 2,080 2,055
Goodwill 1,875 1,953 1,891 1,814 570
Intangible assets 695 751 869 965 568
Other non-current assets 667 458 461 376 278
Non-current assets 24,525 23,769 20,925 17,712 14,468
Total assets 36,742 35,403 30,435 28,278 26,206

Liabilities and Equity 2021 2020 2019 2018 2017

Short-term borrowings 368 671 448 890 70
Trade receivables and others 6,862 4,831 4,750 4,623 4,707
Current liabilities 7,230 5,502 5,198 5,513 4,777
Long-term debt 11,246 15,286 11,614 8,497 8,549
Deffered income taxes 2,334 2,332 2,015 1,975 1,655
Other non-current liabilities 3,944 4,179 3,429 1,897 2,275
Non-current liabilities 17,524 21,797 17,058 12,369 12,479
Total liabilities 24,754 27,299 22,256 17,882 17,256
Share capital & premium 6,063 6,005 5,973 7,063 10,237
Treasury shares (965) (531) (580) (2,206) (15,749)
Retained earnings 8,563 4,440 4,435 6,763 15,746
Other reserves (1,803) (1,943) (1,784) (1,363) (1,285)
Owners' equity 11,858 7,971 8,044 10,257 8,949
Non-controlling interests 130 133 135 139 1
Total equity 11,988 8,104 8,179 10,396 8,950
Total liabilities & equity 36,742 35,403 30,435 28,278 26,206
0 0 0 0 0
 IS FOR PERFORMANCE APPRAISAL

$M 2021 2020 2019 2018 2017

Revenue 46,173 27,753 34,727 39,004 34,484
Trade 45,135 26,995 33,908 38,126 33,705
Related parties 1,038 758 819 878 779
Cost-of-sales (38,652) (25,499) (30,500) (33,658) (28,918)
Cost-of-goods sold (37,397) (24,359) (29,301) (32,529) (28,059)
Selling and distribut (1,255) (1,140) (1,199) (1,129) (859)
Gross profit 7,521 2,254 4,227 5,346 5,566
R&D expense (124) (113) (111) (115) (106)
Other operating expenses (impairments) (624) (582) 0 0 0
Core operating profit 6,773 1,559 4,116 5,231 5,460
Other income 523 341 264 395 500
Other income 62 85 39 106 179
Income from equity 461 256 225 289 321
Interest income 9 12 19 45 24
Operating profit (PBIT) 7,305 1,912 4,399 5,671 5,984
Interest expenses (519) (526) (347) (360) (491)
Profit before tax 6,786 1,386 4,052 5,311 5,493
Tax expenses (1,163) 43 (648) (613) (598)
Income from continuing operations 5,623 1,429 3,404 4,698 4,895
Loss from discontinued operations (6) (2) (7) (8) (18)
Profit after tax (underlying) 5,617 1,427 3,397 4,690 4,877
Profit attributable to owners 5,610 1,420 3,390 4,688 4,879
Profit due to non-controlling interests (7) (7) (7) (2) 2

Financial derivatives 72 (226) (132) 54 (45)

Unrealised losses/gains of available-for-sale securities (1) 1 0 0 16
Defined benefit pension and other post-retirement benefit 224 (41) (269) 30 77
Foreign currency translations (155) 107 (20) (92) 178
Reported profit after tax 5,757 1,268 2,976 4,682 5,103
Comprehensive income attributable to owners 5,750 1,261 2,969 4,680 5,105
Comprehensive income due to non-controlling interests (7) (7) (7) (2) 2
 IS FOR EARNING FORECAST

$M 2021 2020 2019

Revenue 46,173 27,753 34,727
Cost-of-sales (38,652) (25,499) (30,500)
Gross profit 7,521 2,254 4,227
R&D expense (124) (113) (111)
Other operating expenses (impairments) (624) (582) 0
Core operating profit 6,773 1,559 4,116
Other income 523 341 264
Interest income 9 12 19
Operating profit (PBIT) 7,305 1,912 4,399
Interest expenses (519) (526) (347)
Profit before tax 6,786 1,386 4,052
Tax expenses (1,163) 43 (648)
Income from continuing operations 5,623 1,429 3,404
Loss from discontinued operations (6) (2) (7)
Profit after tax (underlying) 5,617 1,427 3,397
Profit attributable to owners 5,610 1,420 3,390
Profit due to non-controlling interests (7) (7) (7)

Financial derivatives 72 (226) (132)

Unrealised losses/gains of available-for-sale securities (1) 1 0
Defined benefit pension and other post-retirement benefit 224 (41) (269)
Foreign currency translations (155) 107 (20)
Reported profit after tax 5,757 1,268 2,976
Comprehensive income attributable to owners 5,750 1,261 2,969
Comprehensive income due to non-controlling interests (7) (7) (7)
 2018 2017
39,004 34,484
(33,658) (28,918)
5,346 5,566
(115) (106)
0 0
5,231 5,460
395 500
45 24
5,671 5,984
(360) (491)
5,311 5,493
(613) (598)
4,698 4,895
(8) (18)
4,690 4,877
4,688 4,879
(2) 2

54 (45)
0 16
30 77
(92) 178
4,682 5,103
4,680 5,105
(2) 2
 CF FOR PERFORMANCE APPRAISAL

$M 2021 2020 2019 2018

Cash flows from operating activities
Profit after tax 5,617 1,427 3,397 4,690
Net financial expense 510 514 328 315
Interest income (9) (12) (19) (45)
Interest expense 519 526 347 360
Depreciation and amortization 1,393 1,385 1,312 1,241
Other non-cash items 527 1,005 301 313
Impairments 624 582 0 0
Amortization of debt-rela 35 21 11 14
Changes related to repay 0 0 0 0
Share-base compensatio 66 55 48 39
Inventory valuation char 0 16 33 0
Deferred income tax (198) 331 209 260
Investment income (146) (97) 22 (18)
Equity income (461) (256) (225) (289)
Distributions of earnings, 315 159 247 307
Gain on sales of business 0 0 0 (36)
Change in non-cash working capital 304 (316) (71) (755)
Accounts receivable (1,519) (246) 367 433
Inventories (742) 340 (129) (141)
Account payable 1,301 217 (251) (199)
Other, net 1,264 (627) (58) (848)
Cash flow from operating activities 8,205 3,918 5,289 5,786

Cash flows from investing activities

Interest income 9 12 19 45
Purchase of PP&E (1,959) (1,947) (2,694) (2,105)
Acquisition of A.Schulman 0 0 0 (1,776)
Purchase of financial assets, net 578 (2,891) 1,229 473
Purchase of financial asse (355) (878) (141) (1,192)
Acquisition of equity me (106) (2,440) 0 0
Proceeds from sales of fin 1,039 427 1,370 1,665
Other investment expense (121) (68) (170) (151)
Cash flow from investing activities (1,493) (4,894) (1,616) (3,514)

Cash flows from financing activities

Dividends paid (1,486) (1,405) (1,462) (1,554)
Repurchase of company ordinary shares (463) (4) (3,752) (1,854)
Interest expense (519) (526) (347) (360)
Drawdowns of debt (4,374) 3,612 2,460 416
Proceeds from bond issu 0 6,378 5,031 0
 Repayment of long-term (3,925) (2,880) (2,974) (394)
Debt-related costs (153) (140) (22) 0
Proceeds from short-term 0 521 2,500 0
Repayment of short-term 0 (506) (1,526) 0
Net proceeds from comme (296) 239 (549) 810
Other financing expense (62) 68 (81) (16)
Purchase of non-controlli 0 (30) (63) 0
Derivatives contract char (49) 113 0 0
Other, net (13) (15) (18) (16)
Cash flow from financing activities (6,904) 1,745 (3,182) (3,368)

Effect of exchange rates on cash (96) 108 (4) (31)

Increase (decrease) in cash position (288) 877 487 (1,127)
Starting cash position 1,765 888 401 1,528
Ending cash position 1,477 1,765 888 401
0 0 0 0
 CF FOR EARNING FORECAST

2017 $M 2021 2020 2019 2018

Cash flows from operating activities
4,877 Profit after tax 5,617 1,427 3,397 4,690
467 Net financial expense 510 514 328 315
(24) Depreciation and amortization 1,393 1,385 1,312 1,241
491 Other non-cash items 527 1,005 301 313
1,174 Investment income (146) (97) 22 (18)
(468) Change in non-cash working capital 304 (316) (71) (755)
0 Cash flow from operating activities 8,205 3,918 5,289 5,786
15
49
55 Cash flows from investing activities
0 Interest income 9 12 19 45
(587) Purchase of PP&E (1,959) (1,947) (2,694) (2,105)
(120) Acquisition of A.Schulman 0 0 0 (1,776)
(321) Purchase of financial assets, net 578 (2,891) 1,229 473
309 Other investment expense (121) (68) (170) (151)
(108) Cash flow from investing activities (1,493) (4,894) (1,616) (3,514)
(257)
(521)
(237) Cash flows from financing activities
165 Dividends paid (1,486) (1,405) (1,462) (1,554)
336 Repurchase of company ordinary shar (463) (4) (3,752) (1,854)
5,673 Interest expense (519) (526) (347) (360)
Drawdowns of debt (4,374) 3,612 2,460 416
Other financing expense (62) 68 (81) (16)
Cash flow from financing activities (6,904) 1,745 (3,182) (3,368)
24
(1,547)
0 Effect of exchange rates on cash (96) 108 (4) (31)
(104) Increase (decrease) in cash position (288) 877 487 (1,127)
(1,823) Starting cash position 1,765 888 401 1,528
0 Ending cash position 1,477 1,765 888 401
1,719 0 0 0 0
(105)
(1,732)

(1,415)
(866)
(491)
(576)
990
(1,000)
(73)
0
0
(493)
(2)
0
0
(2)
(3,350)

59
650
878
1,528
0
 2017

4,877
467
1,174
(468)
(120)
(257)
5,673

24
(1,547)
0
(104)
(105)
(1,732)

(1,415)
(866)
(491)
(576)
(2)
(3,350)

59
650
878
1,528
0