Mesaieed Petrochemical Q P S C : MPHC to renew QVC’s joint venture for another term with a new partner, while maintaining its current ownership

FOR IMMEDIATE RELEASE

MPHC to renew QVC's joint venture for another term with a new

partner, while maintaining its current ownership

Doha, Qatar, 4 October 2022 - The Board of Directors of Mesaieed Petrochemical Holding Company ("MPHC" or "the Company"; QE ticker: MPHC) has approved signing of a 'Principles Agreement', whereby a new joint venture agreement (JVA) for Qatar Vinyl Company Q.P.J.S.C. (QVC) will be signed between MPHC and Industries Qatar (IQ) following the expiry of existing JVA.

QVC is a joint venture currently owned by MPHC with a 55.2% stake, Qatar Petrochemical Company Q.P.J.S.C. (QAPCO) with a 31.9% stake and QatarEnergy with a 12.9% stake. QVC's JVA is expiring on 1st May 2026.

At the expiry of the JVA, QAPCO and QatarEnergy will transfer their entire stakes in QVC to IQ with immediate effect. There will be no impact to MPHC's equity ownership in QVC and MPHC will continue to own the same percentage of shareholding.

The new JV partners will be MPHC and IQ, with 55.2% and 44.8% stakes in QVC, respectively. While QAPCO will continue to operate QVC, including the new PVC plant, under a plant operating and services agreement.

The below diagram explains the ownership restructuring for QVC:

Funding of the new PVC plant

As per the Principles Agreement, the total CAPEX outlay relating to the new PVC plant will be shared between MPHC and IQ in a ratio of 55.2% and 44.8%, respectively, equivalent to their share in QVC under the new JVA. An EPC contract has already been awarded for the new PVC plant, and the plant's construction is expected to be completed by mid-2025.

-Ends-

About MHPC

Mesaieed Petrochemical Holding Company Q.P.S.C. ("MPHC") was incorporated as a Qatari joint stock company on May 29, 2013 with an agreed effective date for the transfer of QatarEnergy's (formerly known as Qatar Petroleum) previous shareholding in the joint ventures of September 1, 2013. The registered office is located at P.O. Box 3212, Doha, State of Qatar.

The main activity of MPHC is to act as a holding company: (i) Q-Chem is currently owned by MPHC (49%), Chevron Phillips Chemical International Qatar Holdings L.L.C. ("CPCIQH") (49%) and QatarEnergy (2%), and has one wholly- owned subsidiary, Q-Chem Distribution Company Limited,(ii) Q-Chem II is currently owned by MPHC (49%), CPCIQH (49%) and QatarEnergy (2%), and has one wholly-owned subsidiary, Q-Chem II Distribution Company Limited, and an effective ownership interest of 53.85% in a joint venture, Ras Laffan Olefins Company Limited, which supplies ethylene to Q-Chem II; and (iii) QVC, which was incorporated in 1997 as a joint venture, and is currently owned by MPHC (55.2%), QAPCO (31.9%) and QatarEnergy (12.9%).

For more information about the earnings announcement, e-mailmphc@qatarenergy.qaor visit www.mphc.com.qa

DISCLAIMER

The companies in which Mesaieed Petrochemical Holding Company Q.P.S.C. directly and indirectly owns investments are separate entities. In this press release, "MPHC" and "the Group" are sometimes used for convenience in reference to Mesaieed Petrochemical Holding Company Q.P.S.C.

This press release may contain forward-looking statements concerning the financial condition, results of operations and businesses of Mesaieed Petrochemical Holding Company Q.P.S.C. All statements other than statements of historical fact are deemed to be forward-looking statements, being statements of future expectations that are based on current expectations and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, operations and business performance or events impacting the group to differ materially from those expressed or as may be inferred from these statements.

There are a number of factors that could affect the realisation of these forward-looking statements such as: (a) price fluctuations in crude oil and natural gas, (b) changes in demand or market conditions for the group's products, (c) loss of market share and industry competition, (d) environmental risks and natural disasters, (e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) political risks. As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements contained herein. All forward-looking statements contained in this presentation are made as of the date of this presentation.

Mesaieed Petrochemical Holding Company Q.P.S.C., its Directors, officers, advisors, contractors and agents shall not be liable in any way for any costs, losses or other detrimental effects resulting or arising from the use of or reliance by any party on any forward-looking statement and / or other material contained herein. Mesaieed Petrochemical Holding Company Q.P.S.C., its joint ventures and associated companies are further in no way obliged to update or publish revisions to any forward-looking statement or any other material contained herein which may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reason whatsoever. Mesaieed Petrochemical Holding Company Q.P.S.C. does not guarantee the accuracy of the historical statements contained herein.