October 19, 2021

LyondellBasell Advice on Social Engineering Fraud

Houston, October 18, 2021

Dear Valued Customer,

The industry is experiencing an increasing number of social engineering activities, scams and other cyber-
crime activities. We care about our customers and want to reinforce practices that can support you in preventing damage caused by these activities.

Below we reinforce a few principles that will help you to protect your company and its assets.

• Our customers pay their invoices on the bank account mentioned on the invoice; we suppose that you
have in place electronic system alerts in case the account number on the invoice does not match the LYB
account number active in your systems.

• Any LyondellBasell request to change the remit-to bank account where you pay your invoices,comes only
in writing from us by email from your LyondellBasell key account manager or contact mentioned in
the Notice section of the relevant Contract.

• In case of doubt, prior to making any payment, and in case you receive written instructions to pay the
invoice on another bank account then mentioned on the invoice you are always supposed to do a double
verification by
• i) get this change confirmed by email from the person and by the email account mentioned
in the Notice section of the Contract / Regular (sales) contact and
• ii) have this change confirmed by phone by your regular Sales contact.

• Only email addresses with the @lyb.com and @lyondellbasell.com annotation originate from our
company. In the event you do not recognize the name of the sender or it is misspelled, please do not open
the email or any of the attachments and contact your IT department immediately.

• Please reach out immediately, to your LyondellBasell Sales contact, in case of any suspicious email
communication or other activity from which it appears that it originates from LyondellBasell.
We will never ask for your personal information, or password.

Please always remain vigilant, and do not hesitate to reach out to your Sales contact regarding
any questions you might have. Together, we can reduce the potential for loss for our companies as it
relates to web-criminality.

Kind regards,

October 19, 2021

Dow Plans

Dow unveils zero-carbon growth initiatives for $3B EBITDA boost

Oct. 06, 2021 7:10 AM ETDow Inc. (DOW)By: Carl Surran, SA News Editor

• At its Investor Day, Dow Inc. (NYSE:DOW) outlines plans to deliver more than $3B in additional EBITDA by 2030, while keeping capital spending at or below depreciation and amortization, as well as driving the company toward zero-carbon emissions across its global asset base.
• Dow says it expects near-term capital and operating growth investments will increase EBITDA by $2B, and a new net-zero carbon emissions ethylene and derivatives complex will deliver $1B in EBITDA.
• Dow also unveils plans to build the world’s first net-zero carbon emissions ethylene facility and convert the assets at its Fort Saskatchewan site in Alberta to create the first net-zero carbon emissions complex for scope 1 and 2 carbon dioxide emissions.
• The company says the investments will decarbonize ~20% of its global ethylene capacity while growing its polyethylene supply by 15%.
• Dow also signs eight new renewable energy agreements in Europe and America.
• Dow’s Investor Day presentation

https://seekingalpha.com/news/3749305-dow-unveils-zero-carbon-growth-initiatives-for-3b-ebitda-boost

October 19, 2021

Dow Plans

Dow unveils zero-carbon growth initiatives for $3B EBITDA boost

Oct. 06, 2021 7:10 AM ETDow Inc. (DOW)By: Carl Surran, SA News Editor

• At its Investor Day, Dow Inc. (NYSE:DOW) outlines plans to deliver more than $3B in additional EBITDA by 2030, while keeping capital spending at or below depreciation and amortization, as well as driving the company toward zero-carbon emissions across its global asset base.
• Dow says it expects near-term capital and operating growth investments will increase EBITDA by $2B, and a new net-zero carbon emissions ethylene and derivatives complex will deliver $1B in EBITDA.
• Dow also unveils plans to build the world’s first net-zero carbon emissions ethylene facility and convert the assets at its Fort Saskatchewan site in Alberta to create the first net-zero carbon emissions complex for scope 1 and 2 carbon dioxide emissions.
• The company says the investments will decarbonize ~20% of its global ethylene capacity while growing its polyethylene supply by 15%.
• Dow also signs eight new renewable energy agreements in Europe and America.
• Dow’s Investor Day presentation

https://seekingalpha.com/news/3749305-dow-unveils-zero-carbon-growth-initiatives-for-3b-ebitda-boost

October 18, 2021

Recticel Clarification

Clarification with regard to Recticel’s strategic intent

Occasional information, Brussels, 15/10/2021 — 18:07 CET, 15.10.2021

Recticel clarifies certain key elements with regard to its recent announcement on the sale of its Engineered Foams division:

• As communicated in its press release of 11 October 2021, Recticel has received a binding offer from Carpenter to acquire Recticel’s Engineered Foams business which is only subject to shareholder approval and to customary conditions including regulatory approval and confirmatory due diligence. Carpenter’s binding offer is not subject to any financing condition. The outcome of the confirmatory due diligence will be known before the general meeting that will decide on the transaction and further details of this deal will be communicated upon publication of the convocation for this general assembly. 
• The cash consideration of Carpenter’s offer for the Engineered Foams business is based on an enterprise value1 of EUR 656 million, which represents EUR 11.65 per Recticel share on a fully diluted basis. The offer is made on a cash and debt free basis. 
• Greiner states in its press release that its public offer on Recticel values the company at an enterprise value of EUR 1,173 million or EUR 20.8 per Recticel share. This is not in line with Greiner’s prospectus, which implies an enterprise value of EUR 1,058 million  or EUR 18.8 per share. 
• The implied value of the Insulation business in Greiner’s offer amounts to only EUR 411 million, which is significantly below the average broker consensus valuation of EUR 708 million. It substantially undervalues Recticel’s Insulation business; the difference between both amounts to EUR 297 million, equivalent to EUR 5.3 per share on a fully diluted basis.
• As communicated in the 11 October 2021 Recticel press release, the Board of Directors of Recticel will review at a later stage options for the use of proceeds from the sale of the Engineered Foams business, including a potential partial distribution to shareholders in a tax effective way (capital reduction, repurchase of own shares). 
• Recticel expects to publish in due course its Response Memorandum which will describe the view of the Board of Directors of Recticel on the Prospectus of Greiner, including on the Offer Price   
• The divestment process of the Bedding business is on track and in line with the previously communicated schedule, i.e. a signing in 4Q2021 and a closing in 1Q2022. 

https://www.recticel.com/clarification-regard-recticels-strategic-intent.html

October 18, 2021

Recticel Clarification

Clarification with regard to Recticel’s strategic intent

Occasional information, Brussels, 15/10/2021 — 18:07 CET, 15.10.2021

Recticel clarifies certain key elements with regard to its recent announcement on the sale of its Engineered Foams division:

• As communicated in its press release of 11 October 2021, Recticel has received a binding offer from Carpenter to acquire Recticel’s Engineered Foams business which is only subject to shareholder approval and to customary conditions including regulatory approval and confirmatory due diligence. Carpenter’s binding offer is not subject to any financing condition. The outcome of the confirmatory due diligence will be known before the general meeting that will decide on the transaction and further details of this deal will be communicated upon publication of the convocation for this general assembly. 
• The cash consideration of Carpenter’s offer for the Engineered Foams business is based on an enterprise value1 of EUR 656 million, which represents EUR 11.65 per Recticel share on a fully diluted basis. The offer is made on a cash and debt free basis. 
• Greiner states in its press release that its public offer on Recticel values the company at an enterprise value of EUR 1,173 million or EUR 20.8 per Recticel share. This is not in line with Greiner’s prospectus, which implies an enterprise value of EUR 1,058 million  or EUR 18.8 per share. 
• The implied value of the Insulation business in Greiner’s offer amounts to only EUR 411 million, which is significantly below the average broker consensus valuation of EUR 708 million. It substantially undervalues Recticel’s Insulation business; the difference between both amounts to EUR 297 million, equivalent to EUR 5.3 per share on a fully diluted basis.
• As communicated in the 11 October 2021 Recticel press release, the Board of Directors of Recticel will review at a later stage options for the use of proceeds from the sale of the Engineered Foams business, including a potential partial distribution to shareholders in a tax effective way (capital reduction, repurchase of own shares). 
• Recticel expects to publish in due course its Response Memorandum which will describe the view of the Board of Directors of Recticel on the Prospectus of Greiner, including on the Offer Price   
• The divestment process of the Bedding business is on track and in line with the previously communicated schedule, i.e. a signing in 4Q2021 and a closing in 1Q2022. 

https://www.recticel.com/clarification-regard-recticels-strategic-intent.html