EQUATE News Archives

MEGlobal Shanghai Office Opening

MEGlobal celebrates the grand opening of our new Shanghai office with His Excellency Kuwait Ambassador Mr. Jasem Al-Najem to China. This marks a major step in our commitment to the Chinese market and expanding our global footprint. Congratulations to our EQUATE Group family on reaching this remarkable milestone.

Celebrating EQUATE's ISO Laboratory Accreditation - A Milestone in Excellence.

Kuwait City, March 27, 2024 - EQUATE proudly announces the achievement of ISO 17025:2017 Laboratory Accreditation, a significant milestone that underscores the company's unwavering dedication to excellence. This accreditation not only elevates industry standards in Kuwait but also highlights EQUATE's commitment to delivering top-quality products and services to its valued customers.

By obtaining the ISO Accreditation, EQUATE ensures compliance with the Kuwait Environmental Public Authority (KEPA) requirements, underscoring the company's commitment to environmental sustainability. The accreditation establishes robust processes that consistently yield reliable outcomes, enhancing operational efficiency and customer satisfaction.

Internationally, this milestone garners invaluable recognition and fosters confidence in the accuracy and comparability of EQUATE's laboratory results with those of other leading laboratories worldwide. The accreditation continues to bolsters the company's credibility within the industry, affirming its status as a trusted partner for customers globally.

EQUATE's ISO Accreditation reflects the company's unwavering dedication to continuous improvement and excellence. It stands as a pinnacle of recognition within the ISO organization, positioning EQUATE as a pioneer in implementing a comprehensive laboratory management system.

This accreditation solidifies EQUATE's position as a global leader in the petrochemical industry and reaffirms its commitment to upholding the highest standards across all facets of its operations. It serves as a testament to the company's relentless pursuit of excellence and its pledge to offer unparalleled quality and service to customers worldwide.

EQUATE Strengthens Reliability with MOL Chemical Tanker Agreements.

Kuwait City, March 13, 2024 - EQUATE Group a global producer of petrochemicals and the world’s leading supplier of ethylene glycol, has announced the signing of global agreements with MOL Chemical Tanker, signaling a significant step in enhancing reliability and business continuity for its customers.

These global agreements solidify EQUATE's dedication to providing outstanding services and strengthening its position as an industry leader. By partnering with MOL Chemical Tanker, EQUATE is able to further expand its network and offer enhanced solutions to meet the evolving needs of its customers.

This partnership underscores EQUATE's ongoing efforts to deliver exceptional service, reliability, and innovation. Both companies share a commitment to excellence, safety, and sustainability, making this collaboration a natural fit to drive success and growth.

EQUATE looks forward to leveraging this partnership with MOL Chemical Tanker to enhance its capabilities, strengthen its network, and deliver continued value to customers worldwide.

EQUATE Demonstrates Commitment to Carbon Neutrality at PIC HSSE Week.

KUWAIT CITY, March 6, 2024 – EQUATE proudly participated in the recent PIC HSSE Week, where the focus was on the key theme, "Together Towards Carbon Neutrality." This dedicated event aligned perfectly with EQUATE's mission of shaping a responsible and sustainable energy future.

The main purpose of the event was to showcase projects and initiatives that make significant contributions to achieving Carbon Neutrality in Kuwait. One notable initiative highlighted at the event was carbon capture and its application, reflecting the theme of working together towards carbon neutrality.

In addition to EQUATE, other notable participants at the event included various K-companies, the Kuwait Environmental Public Authority (EPA), and several other companies with a keen interest in advancing sustainability efforts in the industry.

EQUATE's participation at the event emphasized not only its commitment to carbon neutrality but also showcased key projects and initiatives that were set in motion prior to the Paris Agreement. These projects aim to achieve the ambitious goals set forth in the event's theme.

The inauguration of the event was led by senior management from PIC, underscoring the importance of the initiatives being presented.

EQUATE remains dedicated to driving meaningful change and innovation in the pursuit of a more sustainable future. By actively participating in events like the PIC HSSE Week and highlighting projects that support carbon neutrality, EQUATE reaffirms its position as a leader in environmental, social, and governance (ESG) practices within the industry.

EQUATE Group Clinches His Highness the Amir’s Award for Distinguished Factories.

Kuwait, March 4, 2024 – EQUATE Group proudly announces its remarkable achievement of winning first place in the prestigious His Highness the Amir’s Award for Distinguished Factories. This accolade was secured in the sixth session, specifically in the first category, dedicated to large industrial facilities.

Naser Aldousari, President and CEO of EQUATE Group, expressed his appreciation and highlighted the significance of this award, stating: “This recognition is a demonstration of the government's initiatives aimed at elevating the industrial sector and fostering economic growth in alignment with the country's overarching development vision.

“This award plays a key role in promoting excellence in institutional performance, creating a culture of healthy competition among establishments, and driving adoption of the latest administrative and technical advancements.”

Aldousari added, “The award also serves as a catalyst for industrial establishments to assess and enhance their performance by benchmarking against global best practices. The core values and objectives of the award closely mirror those of EQUATE Group, which are rooted in driving continuous improvement and striving for operational excellence.”

This achievement marks a significant milestone for EQUATE Group and reinforces its position as a leader in the industrial sector. The company looks forward to building on this success and continuing to drive innovation, sustainability, and growth within the industry.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Kuwait Projects Company – KIPCO. Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

EQUATE Group Announces Year End 2023 Financial Results

KUWAIT, February 15, 2024 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, announced its full-year earnings for 2023 this week.

The EQUATE Group reported a total revenue of US$3,135 million in 2023, compared to US$3,947 million in 2022. The Group also reported a net income after tax of US$308 million and EBITDA of US$862 million, compared to US$611 million and US$1,217 million, respectively, for 2022.

While the industry continued to face challenging market conditions, that included macroeconomic uncertainty and cascading effects on global supply and demand, EQUATE performance remained resilient. Leveraging its regional and business strengths and initiatives, as well as its competitiveness, EQUATE capitalized on strong demand growth in higher-value regional markets.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE Group, said: “In 2023, EQUATE Group delivered strong operational performance and completed major turnarounds and maintenance programs while mitigating the impact on performance, despite significant headwinds encountered by the industry across several fronts. EQUATE Group has emerged both stronger and more resilient.

“Our global reliability and the safety of our operations remained uncompromised, and the successful execution of major turnarounds and targeted capital spending contributed to our operational efficiencies, safety and the well-being of our teams, as well as our neighbouring communities and the environment.”

EQUATE Group’s results reflect their uncompromising focus on reliability, close collaboration with stakeholders, and their proactive actions in navigating challenges and market dynamics to deliver a long-term sustainable strong performance.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Drives Conversation at the 17th GPCA Annual Forum: Mobilizing Chemistry for Impactful Transformation

KUWAIT, December 7th, 2023 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, plays a pivotal role in the 17^th GPCA Annual Forum, taking place from December 3^rd to 6^th, 2023, under the theme 'Mobilizing Chemistry for Impactful Transformation.’

EQUATE has 22 representatives attending the forum and will showcase its latest initiatives at the EQUATE exhibition stand. The Group is also one of the sponsors at GPCA.

In line with the overarching theme of the event, EQUATE's commitment to the future is demonstrated in its participation at the 2nd Youth Forum, facilitating the attendance of younger members of EQUATE and students of Kuwait University, and sponsoring the GPCA Youth-Leader Debate, scheduled for December 4th, 2023. This open dialogue invites up-and-coming talent to challenge industry leaders on their commitment to sustainability and digitalization targets, and foster a dynamic exchange of ideas.

Naser Aldousari, President & CEO of EQUATE Group, who will address the GPCA’s Youth Forum as keynote speaker, said: “At EQUATE, we believe in the transformative power of dialogue and collaboration. As leaders today, we must engage with the next generation of engineers and industry experts who will lead our organizations in the future. Working together enables us to harness new ideas and innovations and combine them with the decades of experience our current leaders bring to the business. The 17th GPCA Annual Forum provides a valuable platform to enable this sharing of ideas and perspectives, catalyzing impactful change and continued success for our industry.”

Yousef AlGharabally, Global Procurement Director of EQUATE Group, will also share his expertise in a panel discussion on "Realizing opportunities for procurement collaboration in the GCC," providing perspectives on collaboration in the region.

EQUATE is a founding member of GPCA, and an active leader in driving excellence in the chemical industry.

EQUATE Group Announces Half Year 2023 Financial Results

KUWAIT, August 30, 2023 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of ethylene glycol announced its earnings for the first half of 2023.

The EQUATE Group reported total revenue of US$1,518 million in H1 2023, compared to US$2,238 million during the same period in 2022. The Group also reported a net income after tax of US$89 million and EBITDA of US$377 million, compared to US$537 million and US$855 million, respectively, for 2022.

Despite market volatility sentiments, EQUATE Group maintains its reliable operation with a sold-out volume position and continues to navigate a challenging macroeconomic landscape marked by slow global growth. In the face of this dynamic economic environment, EQUATE Group has demonstrated its agility by delivering positive results.

Commenting on the results, Naser Aldousari, President and CEO of EQUATE Group, said: “EQUATE continues to maintain a distinguished operational performance although it has experienced lower year-over-year sales and earnings due to ample supply and sluggish market conditions. The results reflect our strengths in the market and our commitment to operational efficiency. Leveraging our competitive cost position and strategically located facilities, we successfully completed our periodic turnaround for the Ethane cracker, downstream derivatives and utilities while continuing to fulfill customer demand in key regions. We proactively focused on prioritizing higher-value opportunities where regional demand netback remains strong. We are focused on maintaining consistent and disciplined performance in the short term while aiming for long-term growth and cash flow, and we are confident in our ability to continue delivering our financial targets across the economic cycle.”

“As we continue on our journey towards sustainability, EQUATE Group is in the planning phase to transition its sustainability strategy to align with a holistic Environmental, Social and Governance (ESG) approach, reaffirming our compliance with international standards and regional goals and reflecting our commitment to overall sustainable development. Through partnerships with institutions, businesses, and society, we are focused on reducing emissions, and aiming for pursuing carbon neutrality across all EQUATE Group-owned operations in alignment with local and regional targets.”

-ENDS-

ABOUT THE EQUATE GROUP

Disclaimer

This earnings announcement (the Announcement) is for information only. The announcement is based on financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Group Announces Year End 2022 Financial Results

KUWAIT, March 1, 2023 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, announced its full-year earnings for 2022 this week.

The EQUATE Group reported total revenue of US$3,947 million in 2022, compared to US$4,159 million in 2021. The Group also reported a net income after tax of US$611 million and EBITDA of US$1,217 million, compared to US$1,109 million and US$1,735 million, respectively, for 2021.

In the face of changing market conditions, EQUATE remained resilient. Through cost positioning and feedstock, EQUATE was able to respond to demand trends and optimize margins, resulting in a low-cost operating model and strong cash conversion.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE Group, said: “As economic conditions deteriorate across the world, we have put in place a comprehensive set of immediate and long-term measures to drive resilient performance. We keep our financial position strong by focusing on disciplined and balanced capital allocation. We will continue to manage our operations and adjust our business to the changing market in order to generate long-term value for our stakeholders, as we leverage our competitive advantages and operational agility.”

EQUATE Group’s results reflect their focus on operational reliability, a low cost-to-serve model, and a proactive approach in navigating challenges and market dynamics to deliver a long-term sustainable strategy.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

EQUATE celebrated the third anniversary of the inauguration of MEGlobal

On September 9, 2022, EQUATE celebrated the third anniversary of the inauguration of its MEGlobal Americas. Inc. (MEGlobal) Oyster Creek, Texas site, marking several milestones of success in safety, production and sustainability.

The site was completed ahead of schedule and below budget and has now celebrated three years of zero safety incidents. It is producing top quality ethylene glycol at record rates, already increasing its nameplate capacity from 750,000 mta to 1,000,000 mta after its first year.

The first US-based site in the EQUATE Group, Oyster Creek garnered several awards for its construction including the 2020 Best Project in the Industrial/Energy category and a Global Award of Merit award by ENR. Companies such as Dow, PIC, Fluor, Praxair, Evoqua and others were an integral part of the project’s success.

“We appreciate all those who have made the Oyster Creek Site a shining example of what can be accomplished through teamwork and dedication,” said EQUATE President and CEO Naser Aldousari. “It has been a truly global achievement with benefits to both Kuwait and the U.S., providing us with greater flexibility to satisfy our customers’ needs while capitalizing on cost-effective U.S. shale gas. This site built on our global footprint and has enabled EQUATE to grow our value-added business as a leading ethylene glycol producer and supplier.”

In addition to demonstrating operational excellence, the MEGlobal Oyster Creek site is an integral part of the community and was named the 2021 Industry Partner of the Year by the Brazosport Area Chamber of Commerce.

“The accomplishment of the Oyster Creek site in its first three years are impressive and demonstrate EQUATE’s ability to strategically add to its portfolio with far-reaching financial and social benefits,” said Mr. Aldousari. “We want to thank everyone who has been a part of this journey with us.”

EQUATE Group Announces Half Year 2022 Financial Results

KUWAIT, September 1, 2022 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol announced its earnings for the first half of 2022.

The EQUATE Group reported total revenue of US$2,238 million in H1 2022, compared to US$2,041 million during the same period in 2021. The Group also reported a net income after tax of US$537 million and EBITDA of US$855 million, compared to US$543 million and US$869 million, respectively for 2021.

Despite various macro-economic challenges, including the COVID-19 lockdown in China, the geopolitical conflict, and potential recessionary sentiments, EQUATE Group continues to prove that it is well positioned to adapt to market dynamics while advancing its long-term sustainable strategy.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE Group, said: “Our positive performance reflects the strength and agility of our business portfolio, as well as the remarkable efforts of the EQUATE team in maintaining the well-being and safety of our team and the communities in which we operate.

“While current market dynamics remain challenging, we continue to identify and capitalize on areas of underlying strength. Similarly, the competitive position of EQUATE's global assets has enabled us to operate at maximum capacity and, with our global multi-sourcing capabilities, successfully continue to ship our products to customers.”

EQUATE Group’s results reflect their uncompromising focus on reliability and their proactive actions in navigating supply chain challenges and market dynamics to deliver our long-term sustainable strategy.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

EQUATE Group partners with Omniya Project Management Company to drive sustainable development in Kuwait

KUWAIT, Aug 10, 2022 — As part of its commitment to long-term sustainable development, the EQUATE Group, a global producer of petrochemicals, has signed a Memorandum of Understanding (MoU) with Omniya Project Management Company, a plastic recycling firm, in a bid to help close the loop on the plastics economy through the implementation of a joint community recycling program.

Signed by Naser Aldousari, President & CEO of EQUATE Group, and Sanaa AlGhemlas, CEO of Omniya, the agreement marks the strengthening of a collaborative partnership to develop and support environmental initiatives in Kuwait to minimize resource consumption and reduce waste.

Throughout the program, EQUATE Group will be the exclusive provider, responsible for the design, implementation, and delivery of the 45 Omniya’s plastic recycling containers across various locations in Kuwait. The initiative aims to encourage the community to reduce plastic waste. EQUATE Group will also support the initiative with the maintenance of two compressors used to collect, sort, and recycle waste.

Naser Aldousari, President & CEO of EQUATE Group, said: “Omniya has been a long-standing partner of EQUATE Group, and we are proud to expand the horizon of our cooperation by helping their latest efforts to develop and support recycling initiatives in Kuwait. We are committed to minimizing resource consumption and reducing waste as we aim to shrink our carbon footprint and help the plastics industry transition to a circular economy. Operating in a sustainable economy is a critical area of focus for EQUATE, and we will continue to support initiatives that strive to achieve this goal.”

Sanaa AlGhemlas, CEO of Omniya, added: “We are delighted to continue the over 5-year partnership with EQUATE Group and introduce a sustainable plastic recycling model. At Omniya, we’ve been doing a great deal in the region to reduce plastic waste, but in order to reach a circular economy, we need a variety of stakeholders throughout the entire supply chain to participate. EQUATE Group is paving the way among leaders in the plastics industry.”

EQUATE Group partners with Kuwait Fire Force on new home safety campaign

Initiative raises awareness of fire hazard safety to keep Kuwait homes safe

KUWAIT, March 21, 2022 — As part of its commitment to the health, safety and wellbeing of the communities in which it operates, EQUATE Group’s decade-long support of the Kuwait Fire Force (KFF) continues with its latest home safety awareness campaign this month.

The initiative runs from 16^th- 31^st March 2022, and includes information stands in The Avenues Mall and the University of Kuwait to increase awareness and understanding of potential fire hazards in the home, and how to ensure safety measures are followed.

EQUATE’s sponsorship includes participation by its Emergency Response Team (ERT) responsible for health and safety at the global petrochemical company, who will be present on the stands to share information and actively support KFF teams. The organization has also donated vital safety equipment, such as fire extinguishers, fire blankets and smoke detectors, for distribution on the stands.

“Kuwait’s Fire Force provides a critical service in keeping both community and industry safe in our homes and work environments, and EQUATE is proud to have been helping to promote its safety initiatives for more than 10 years,” said Nawaf Al-Khaldi, EQUATE Vice President.

“We hope that this new campaign will help our community to become more aware of potential hazards in the home, learn what measures should be taken to prevent accidents from happening, and what to do should a situation occur,” he added.

The KFF education booths will be located in the Phase II at The Avenues Mall from 16^th – 23^rd March, and in Kuwait University from 28^th – 31^st March.

MEGlobal and Capital Power Announce a 10-year Renewable Energy Agreement

MEGlobal Canada moving to 100% Renewable Energy for its Alberta sites

EDMONTON, Alberta – March 16, 2022 – MEGlobal Canada ULC (MEGlobal) has entered into a 10-year agreement with Capital Power Corporation (TSX: CPX) to purchase a significant share of renewable energy (126 megawatts) from Capital Power’s Whitla Wind¹ facility. The renewable energy is expected to meet the power needs at MEGlobal’s Canadian manufacturing facilities beginning April 1, 2022.

MEGlobal is a subsidiary of EQUATE Petrochemical Company K.S.C.C. (EQUATE) and part of the EQUATE Group. MEGlobal has three operational sites in Alberta, located in Fort Saskatchewan and Lacombe County. These facilities produce ethylene glycol that is used to make essential products such as clothing, coolants and construction materials.

“Purchasing energy from renewable resources such as wind makes good sense for our company and the environment,” said Naser Aldousari, CEO of EQUATE. “This agreement exemplifies EQUATE’s dedication to delivering responsible product growth that meets the needs of the present without compromising the ability of future generations to meet their needs.”

“We’re excited to provide MEGlobal with renewable power for their operations in Alberta. As we work to power a sustainable future for people and planet, we’re committed to developing customized solutions that empower our partners to capitalize on the benefits of clean energy,” said Chris Kopecky, Senior Vice President and Chief Legal, Development and Commercial Officer. “Combined with our other renewable energy agreements, the additional phases of our Whitla Wind facility, representing a total of 151 MW of capacity, are now fully contracted for 100% of the energy generated and approximately 86% of the environmental attributes for 10 years.”

The carbon displacement from the agreement is estimated to be 2.119 MTCO2e. This is the equivalent of taking more than 461,000 cars off the road for a year, recycling over 90 million bags of waste instead of dumping in landfills, or the amount of greenhouse gases sequestered by 35,000,000 tree seedlings grown for 10 years.²

Whitla Wind consists of 3 phases. Phase 1 (202 MW) is owned by Capital Power (Whitla) L.P. and phases 2 and 3 (151 MW) are owned by Whitla 2 Wind Generation L.P. The renewable energy agreement referred to in this media release is for the capacity and related attributes from phases 2 and 3.
Comparison numbers in this paragraph are calculated from the U.S. EPA website.

About Capital Power

Capital Power is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns approximately 6,600 MW of power generation capacity at 26 facilities across North America. Projects in advanced development include approximately 425 MW of owned renewable generation capacity in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.

About MEGlobal

MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. MEGlobal is a subsidiary of EQUATE and part of the EQUATE Group, one of the world’s largest producers of EG. Visit www.meglobal.biz for more information.

EQUATE Group Announces Financial Results for 2021

KUWAIT, February 21, 2022 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of ethylene glycol announced its full-year earnings for 2021 this week, posting an increase in total revenues of 42 percent over 2020 results.

EQUATE Group’s revenues in 2021 totaled U.S.$4.16 billion compared to 2020 revenues of U.S.$2.92 billion. The Group also reported total EBITDA of U.S.$1.74 billion and net income after tax of U.S.$1.11 billion for 2021, compared to U.S.$945 million and U.S.$358 million, respectively for 2020.

Steadily affirming its global competitive position amid a healthy recovery of global markets in 2021, the Group’s global footprint has enabled reliable and efficient delivery of its quality products to customers worldwide, maintaining its market-leading position.

“EQUATE Group delivered a strong 2021 performance,” said Naser Aldousari, President and CEO of EQUATE Group. “As a result of the extraordinary efforts from our cross-functional team across the globe, we continue to deliver exceptional safety, production and sales performance. We met each challenge during the year with the resilience and determination to emerge stronger.”

With global disruptions still a reality, EQUATE Group has continued to build on its competitive advantage, propelled by its stakeholders’ continuous support, extensive geographic footprint, ethane-based feedstock supply, cost optimization, and the team capabilities.

EQUATE Group’s leadership position is attracting the industry’s top talent for its key operations across markets and implementing development initiatives to deliver strategic direction and drive results.

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals. The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

EQUATE Sponsors 15th Gulf Petrochemicals and Chemicals Association Forum in Dubai. Redefine. Reshape. Reinvent’ - delegates discuss the chemical industry in a post-pandemic reality

KUWAIT, December 09, 2021 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, is an official sponsor of the 15th Annual Gulf Petrochemicals & Chemicals Association (GPCA) Forum in Dubai.

The forum addresses the theme "Redefine. Reshape. Reinvent: the chemical industry in a post-pandemic reality" from December 7th to 9th, with the goal of redefining the challenges, reinventing strategies to capitalize on market opportunities, and reshaping a renewed future for the chemical industry.

This year, Naser Aldousari, President and CEO of EQUATE Group, led a panel discussion titled "Beyond the Pandemic – The GCC Perspective to Creating Resilient, Purpose-Driven, and High-Performing Organizations," in which industry leaders shared their thoughts, knowledge, and insights on developing trends that are shaping the industry, as well as future strategic plans for potential disruptions.

President and CEO Naser Aldousari commented on EQUATE Group's participation, saying, "The petrochemical industry is a significant contributor to economic diversification and a leading job-creation industry." The last two years have been turbulent, focusing attention on critical issues such as sustainability, digitalization, and self-sufficiency."

“As we emerge into a post-pandemic world with new learnings, there is no better time for business leaders to come together to share knowledge and embrace innovation, so that together, we can continue to provide value for our customers, and develop sustainable solutions that adhere to global standards.”

EQUATE Group is also participating in a youth program ‘Leaders of Tomorrow’, where industry stakeholders and youth will collaborate in shaping skills and preparing the future industry leaders with the required skills set.

Speaking at the opening of ‘Leaders of Tomorrow’, Aldousari said: “EQUATE Group is dedicated to inspiring and empowering the younger generations to join the industry and support its development. The youth are society’s most valuable resource, with the ability to contribute to sustainable economic growth.

“The ‘Leaders of Tomorrow’ initiative provides a platform for students and young professionals to engage in science, technology, engineering and mathematics (STEM) subjects; as well as learn and connect with leading industry experts at GPCA’s networking events.”

As one of the founding members of the GPCA, EQUATE Group has been dedicated to supporting the region’s petrochemical and chemical industry through advocacy, networking and thought leadership initiatives that help member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.

Visit www.equate.com

Media Enquiries:

Ramzi Alabras

Mojo Public Relations

+971 55 4244 292
ramzi@mojo-me.com

EQUATE Publishes its 2019-2020 Sustainability Report Unveiling Advancement on Sustainability Initiatives

EQUATE Releases its 2019-2020 Sustainability Report Unveiling Advancements on Sustainability Initiatives

Leading with agility to maximize growth and resilience amid the pandemic

Kuwait, October 12^th , 2021 — EQUATE Group, a global producer of petrochemicals, has published its seventh sustainability report highlighting its ongoing commitment to sustainable development across the organization and in the communities in which it operates. The report is prepared in accordance with Global Reporting Initiative (GRI) standards and received the GRI Materiality disclosure stamp.

The theme of the 7th edition “Leading with agility to maximize growth and build resilience amid the Covid-19 pandemic” highlights EQUATE Group’s organizational resilience and adaptation in the face of COVID-19 pandemic, including a number of case studies on responses undertaken during the reporting period.

“We believe that commitment to sustainability in all aspects is a key to success. Therefore, we have made progress in incorporating sustainability into our core business practices not only to produce high-quality products responsibly for our customers, but also to contribute to a more sustainable future." Said Naser Aldousari, EQUATE Group President and CEO. “As the Covid-19 pandemic impacted the lives of people around the world, we stepped up as a responsible corporate citizen to help protect health and continue to provide essential products to markets around the world. Our agility and resilience enabled our operations to continue uninterrupted whilst protecting our people.”

EQUATE Group Sustainability Committee Leader, Dr. Abeer AlOmar, commented: “We chose to raise the bar by refreshing and expanding our sustainability strategy in 2019 which is aligned with The United Nations Sustainable Development Goals (SDGs). The report highlights EQUATE Group's performance during the period 2019-2020 against the economic, and social pillars of sustainability in four key sectors – our economic growth, environmental stewardship, health and safety priorities, and responsibility towards our people.”

The full report along with English and Arabic executive summaries is available on the EQUATE Group website, click here: http://www.equate.com/reporting/

ABOUT THE EQUATE GROUP

MEGlobal Americas Inc. Plans For 100 Per Cent Renewable Electricity at Oyster Creek Site by 2023

Sep 21st, 2021

OYSTER CREEK, TX – MEGlobal Americas Inc. (MEGlobal) has entered into an agreement with Calpine Energy Solutions, LLC to purchase renewable energy to fulfill 100 per cent of the expected power needs at MEGlobal’s Oyster Creek, TX site beginning in 2023.

The deal highlights the strong commitment made to sustainability by the EQUATE Petrochemical Group, of which MEGlobal is a part.

“Purchasing energy from renewable resources such as wind and solar makes good sense for our company and our environment,” said EQUATE CEO Naser Aldousari. “This agreement exemplifies EQUATE’s dedication to delivering responsible product growth that meets the needs of the present without compromising the ability of future generations to meet their needs.”

MEGlobal will purchase more than 1.5 million MWh of renewable electricity over the five-year term of the agreement, resulting in the displacement of more than 600,000 MT of carbon dioxide. That is the equivalent of taking more than 156,000 cars off the road for a year or diverting at least 28 million bags of trash from a landfill. When compared to common carbon offsets, the amount of displaced CO2e from this purchase is equal to the amount of carbon sequestered by more than 1.8 million acres of forest in a year.

“We are proud to have been able to deliver a solution to MEGlobal that made sense for them from a carbon abatement, risk and cost management perspective” said Jim Wood, President, Calpine Energy Solutions.

The MEGlobal Oyster Creek Site began operations in 2019 and was designed with energy efficiency in mind, according to Site Leader Scott Daigle. Adding renewable electricity to the site’s infrastructure is another progressive step.

“We pride ourselves on our cutting-edge technology and we are constantly seeking ways we can make a great facility even better,” said Daigle. “Now, in addition to providing a valuable product that helps meet world demand, we are also working to optimize the way we integrate sustainability into our day-to-day operations.”

Daigle said MEGlobal will begin transitioning to renewable electricity in 2022.

About MEGlobal

About Calpine Energy Solutions

Calpine Energy Solutions, LLC is a licensed retail energy provider in every deregulated state, and is one of the largest energy suppliers in North America by volume. Most of its clients are large commercial or industrial entities that view the management of energy and carbon as an important strategic initiative and seek to leverage the company’s expertise in data management, risk management and renewable energy. Calpine Energy Solutions is a wholly owned subsidiary of Calpine Corporation, America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Please visit www.calpinesolutions.com to learn more about how the company helps businesses transform their energy / carbon management programs from a traditional, transactional approach to a data-driven, sustainable business process.

EQUATE Group Announces Financial Results for First Half, 2021

KUWAIT, August 26, 2021 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol announced its earnings for the first half of 2021.

The EQUATE Group reported total revenue of US$2,041 million in H1 2021, compared to US$1,423 million during the same period in 2020. The Group also reported a net income after tax of US$543 million and EBITDA of US$869 million, compared to US$124 million and US$409 million, respectively, during the same period last year.

EQUATE Group’s facilities around the world continue to operate safely and maintain highly reliable production rates despite global challenges. The group remains in a leading cost competitive position and continues to deliver all of its quality products to customers globally.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE, said: “We see strong signs of optimism, as the world economy recovers from a challenging period, with a positive impact on prices, and a return to normalcy driven by increased global manufacturing and industrial activities”.

“The results illustrate EQUATE’s resilience and adaptability, enabling us to continue supplying customers and markets with high quality products from multiple strategic locations. Reliability is at the cornerstone of our reputation and what our customers have grown accustomed to, this will remain so as we move forward in our business.”

-ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

EQUATE Group Expands Covid-19 Relief Efforts with Donation to India

As India's COVID-19 crisis continues, global producer of petrochemicals pledges to donate $100,000

KUWAIT, June 14, 2021 — As part of its commitment to the health, safety and well-being of its employees, partners, and the communities in which it operates, EQUATE Group, a global producer of petrochemicals, has announced a donation of $100,000 to the Kuwait Red Crescent Society to support Covid-19 relief efforts in India.

The donation is in response to the ongoing COVID-19 crisis in India, which has left many people devastated and hospitals unable to care for the sick. Donations will be used to fund much-needed resources and medical equipment, including cylinders to facilitate increased oxygen supply for patients across the country.

“At EQUATE, our highest priority continues to be the safety and wellbeing of people, and wanted to provide practical support to those hit hardest by the pandemic in India” said Naser Aldousari, EQUATE Group President and CEO, “The efforts of Red Crescent Society Kuwait in enabling this relief initiative is exemplary, and we thank Dr. Hilal Al Sayer, Chairman of the Society, for giving EQUATE the opportunity to contribute in a meaningful way.

“We also deeply appreciate both Kuwait’s Ambassador to India, H.E. Mr. Jassem Ibrahim Al-Najim and Ambassador Sibi George, India’s ambassador to Kuwait, for their collaborative and continuous support to our business and the communities to which we are connected.”

About EQUATE Group

The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.

EQUATE Group Steps Up Sustainability Efforts with Plastic Waste Initiative

Company official signatory of environmental global program Operation Clean Sweep.

KUWAIT, May 17, 2021 — As part of its commitment to long-term sustainable development, the EQUATE Group, a global producer of petrochemicals and the second largest producer of Ethylene Glycol in the world, has pledged its allegiance to the international environmental program Operation Clean Sweep (OCS).

Stewarded by the Gulf Petrochemicals and Chemicals Association (GPCA), OCS aims to achieve zero pellets, flake and powder loss into the environment. By signing the pledge, EQUATE must ensure that OCS sustainable best practice requirements are implemented across its facilities in a bid to eliminate accidental loss of pellets during production, handling, storage and transportation from the processing facility to the environment.

The OCS pledge is a strong example of EQUATE’s continuous drive to shrink its carbon footprint. The company believes that by further strengthening its accidental loss processes, it will not only help protect the environment and save valuable resources, but will also deliver greater added value for a more competitive, resilient plastics industry.

Dr. Abeer Al-Omar, EQUATE Group Sustainability Committee Leader said: “We are dedicated to reducing our impact on the environment, and will continue to develop and implement stringent operational processes that contribute to reducing plastic accidental loss. It is promising to see how as an industry we are working together to make a positive and sustainable impact in everything that we do.”

Since its inception, sustainability measures have been firmly embedded in EQUATE’s organizational culture through EQUATE’s Sustainability Strategy 2025, consisting of 11 initiatives identified under environment, economy, society and health and safety. EQUATE’s sustainability strategy is mapped against the United Nation’s Sustainable Development Goals (SDGs) and aligned with Kuwait’s National Development Plan and Canada’s Federal Sustainable Development Strategy.

Abdul Wahab Al-Shatti, Senior Production Engineer said: “We have created a cross functional team to help ensure we are all working together to achieve zero pellets, flake and powder accidental loss. We are proud of the initiative and look forward to continually enhancing our engagements and efforts in the OCS program”.

The OCS program was first introduced by the American Chemistry Council (ACC) and Plastics Industry Association (PLASTICS) - and today it is practiced in over 60 countries and thousands of manufacturing and transportation facilities around the world. For further information about Operation Clean Sweep – please visit: https://www.gpca.org.ae/operation-clean-sweep/

About EQUATE Group

Media Enquiries:

Lara Obeidat

Mojo Public Relations

+971 50 785 3328
lara@mojo-me.com

EQUATE Group Announces Financial Results for 2020

EQUATE Group Announces Financial Results for 2020

KUWAIT, March 31, 2021 — The EQUATE Group, a global producer of petrochemicals and the second largest producer of Ethylene Glycol in the world announced its Q4 2020 and full-year 2020 earnings this week.

EQUATE announced its fourth quarter 2020 and full-year 2020 earnings. In Q4 2020, the EQUATE Group reported an EBITDA of U.S.$309 million, compared to U.S.$335 million for the same period in 2019. EQUATE Group’s total EBITDA for 2020 stood at U.S.$945 million, compared to U.S.$1,124 million in 2019. Net Income After Tax for the year was U.S.$358 million, compared to U.S.$638 million in 2019.

Despite global challenges, EQUATE Group’s facilities around the world continued to operate safely and maintain customary production rates. The group remains in a leading cost competitive position and continues to deliver all of its quality products to customers globally.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE, said: “As challenges and headwinds were heightened in 2020 due to the COVID-19 pandemic, the EQUATE Group continued to demonstrate resilience and flexibility in operating safely and successfully through this unusual time.

Additionally, the solid foundational pillars on which the EQUATE Group is built have enabled us to maintain our commitment to customers without jeopardizing the health and safety of our teams as it is always our utmost priority. Looking ahead, we remain focused on enhancing our competitive capabilities with strategic decision making to deliver ongoing value for our shareholders”.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

EQUATE Group Strengthens Ties with its “Partners in Success” in support of National Strategic and Transformational Industries

KUWAIT, February 7, 2021 — As part of its commitment to support Kuwait’s strategic industries, EQUATE Group hosted a delegation from the Public Authority for Industry (PAI) and Kuwait Industries Union (KIU), at its complex in Shuaiba, Kuwait on 1, February. The PAI was headed by General Manager, Mr. Abdulkarim Taqi Abdulkarim, while the KUI’s was headed by Mr. Hussein Al-Kharafi. EQUATE Group extended the invitation to its strategic partners, as it continues to promote partnership efforts in support of national strategic industries, that contribute to the development and diversification of the economy. Mr. Naser Aldousari, President and CEO EQUATE Group, said: “We would like to extend our gratitude to the PAI and KIU for their ongoing support and valuable cooperation as together, we continue to enhance the status of Kuwait’s strategic industries – this partnership is a true reflection of our achievements as “Partners in Success”. Abdulkarim Taqi, PAI General Manager, said: “EQUATE Group’s ongoing contribution towards the diversification of the country’s transformational industries is highly commendable. We will continue to provide the facilities and incentives that are required to support its endeavors, as part of our commitment to developing and advancing the region’s industrial activity.” Commenting on the success of the partnership, Mr. Hussein Ali Al-Kharafi, Chairman, KIU, said: “EQUATE Group’s contribution to the region’s economic development sets an example for the industry. The partnership between public and private sectors, and foreign investors represents Kuwait’s industrial sector’s high potential, the region’s national technical competencies and the necessary infrastructure required to support these activities.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Latest global innovation in PET manufacturing by Equipolymers adds step closer to circular economy objective Equipolymers presents Viridis 30, an EQUATE Group Initiative

KUWAIT, January 4, 2021 — Equipolymers (EQP), a subsidiary of EQUATE Group has once again achieved a global product innovation with the launch of Viridis 30, a food-grade polyethylene terephthalate (PET) manufactured with 30 percent chemically recycled PET as feedstock. The successful development of Viridis 30 reflects EQUATE Group’s alignment with the European Commission’s ‘Strategy for Plastics in a Circular Economy’. Adopted in January 2018, the strategy aims to transform the way plastic products are designed, used, produced and recycled in the European Union. Viridis 30 is a strong example of EQUATE’s commitment to innovation, and continuous drive to shrink its carbon footprint. The company believes that designing more and better quality recyclates will not only help close the loop in the circular economy, but deliver greater added value for a more competitive, resilient plastics industry. Sudhir Shenoy, Senior Vice President at EQUATE Group, said: “Operating in a sustainable economy is a critical area of focus for EQUATE Group, and has driven the development of the Viridis 30 innovation – a demonstration of our industry leadership and excellence. This new product adds a new milestone to the successful manufacture of recyclable materials without compromising on quality and contributes to improved economic and environmental performance for our customers.” Viridis 30’s roots go back to 2009, when EQP launched Viridis 10 (with 10% recycled PET) with the support of The Coca Cola Company. Viridis complies with the relevant European Commission’s regulations for food contact plastics, meaning it can be used in beverage bottle production as well as in thermoforming applications. In 2016, EQP and Coca-Cola announced Viridis 25, a PET grade containing 25% recycled PET. Muayad Al Faresi, Global Business Director, PET at EQP said: “Viridis 30 is a significant achievement for EQP and for the petrochemical industry. As global demand increases, the transformation of our industry is necessary to create new products that are more sustainable in the long-term. The development of Viridis 30 is aligned with the EU’s target to achieve 25% rPET in packaging by 2025, and 30% by 2030. It highlights our commitment towards innovation - this is a breakthrough that will have far reaching environmental, social and business benefits.” Viridis 30 which will be available commercially to the European market from Q1 2021. About EQUATE Group The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Media Enquiries: Zim Ugbana Mojo Public Relations +971 52 699 9617 zim@mojo-me.com mailto:Sheri@mojo-me.com

EQUATE Group mourns the sad demise of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah

EQUATE Petrochemical Company extends its deepest condolences to the people of Kuwait on the sad demise of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. In his lifetime, the humanitarian Sheikh Sabah has guided the nation through an era of peace and prosperity, setting an example of dignity, wisdom, and leadership that will continue to inspire us all. We ask Allah Almighty to grant his soul eternal rest, and his loved ones and his beloved people of Kuwait patience and solace.

EQUATE Group & NTEC complete renewable energy project for Kuwait Government’s Public Authority of Industry head office

KUWAIT, September 8^th, 2020 — As part of its commitment to long-term sustainable development, the EQUATE Group, in partnership with the National Technology Enterprise Company (NTEC), has completed a solar power project that will deliver clean renewable energy for the Public Authority of Industry (PAI). Of the 655 solar panels that were placed on the PAI rooftop, approximately 419 Mwh will be generated per year to meet demand for electrical renewable energy that will help reduce about 252 tons of CO2 annually. Commenting on the completion of the project, Abdulkarim Taqi, PAI Director-General, said: “This project is a demonstration of a successful private and public sector partnership that realizes the ambitions of His Highness Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to generate 15% of Kuwait's power demand from renewable energy by 2030. The completion, in partnership with EQUATE Group and NTEC, of the installation of solar panels, is the first solar project of its size for the country – and will be used as a prototype for future government buildings to implement renewable energy solutions that create efficiencies and contribute to the protection of the environment.” The Public Authority of Industry was established in 1997, to develop, promote and supervise the industrial activity in the State of Kuwait. CEO-elect and Senior Vice President, Mr. Naser Aldousari, said: “The EQUATE Group has a long-term commitment to sustainability applied across all disciplines of our business, aiming to achieve sustainable economy, environment, and community. "The Renewable Energy Project at the PAI building reflects Kuwait's progressive steps in developing its sustainable energy production, and our partnership with NTEC on this affirms our shared mission to make as positive and sustainable an impact in everything we do.” Anas Meerza, Group CEO, NTEC, said: “NTEC was mandated to play a role in identifying and initiating technology projects that contribute to the development of Kuwait, and the region. This latest partnership with EQUATE, employing technology that provides clean renewable energy for the PIA is a successful demonstration of this. We believe that this will encourage more private sector and international companies to play a role in expanding the country’s solar energy capabilities.” EQUATE continues invests an annual average of US$ 500 million in the Kuwait economy. This includes employment of national professionals, contribution to social, educational and environmental initiatives, as well as partnering with the local private sector in its operational local content. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com ABOUT THE PUBLIC AUTHORITY FOR INDUSTRY On 15 January 1997, Public Authority for Industry was established and it is an autonomous authority under the supervision of the Minister of Commerce & Industry. The purpose of such an establishment was developing, promoting and supervising the industrial activity in the State of Kuwait, through encouraging local industries, protecting and expanding the production base to including strategic goods required for national and nutritional security, and this would diversify national income sources which is a main goal for PAI. In addition to that it is in PAI’s concern to deepening the industrial awareness of the citizens, and helps propagate studies, coordinate between the existing industries and that proposed for future at GCC and Arabian countries and consolidates the industrial cooperation with different countries and international organization. Visit https://www.pai.gov.kw/ ABOUT THE NATIONAL ENTERPRISE COMPANY (NTEC) The National Technology Enterprises Company (NTEC) was established back in November of 2002 and operational in late 2004, by the Kuwait Council of Ministers as a fully owned subsidiary of the Kuwait Investment Authority (KIA). Capitalized at 100 Million Kuwaiti Dinars (Approximately 350 Million U.S. Dollars), with a paid up capital of 85 Million Kuwaiti Dinars. NTEC was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs. The company holds a unique position being fully owned by the Kuwaiti Government, yet enjoys all private sector privileges and operates as such; with its own business license, articles of association, board of directors and capital, NTEC was able to utilize its broad objectives and technology focus being: Information & Communications Technologies, Life Sciences & Healthcare Technologies, Energy, Renewable Energy, Water & Environmental Technologies, to develop distinctive operational and investment strategies to address its core mandate: Technology & Knowledge Transfer. Visit https://www.ntec.com.kw/

EQUATE Group Demonstrates Innovation with Patented Robotic Solution to Enhance Workplace Safety

KUWAIT, September 6, 2020 — The EQUATE Group today announced its third internationally patented invention – an innovative ‘Mobile Non-Destructive Testing Inspection’ robot that will increase safety, efficiency and quality during maintenance of its facilities. The robotic solution, successfully patented through the United States Patent & Trademark Office, was invented by a team of EQUATE engineers that included Soud Al-Deweesh, Yousef Al-Haddad, Abdulrahman Al-Mutawaa, Yousef Safar and Abdullah Al-Ruwayeh, in collaboration with the Kuwait Foundation for the Advancement of Sciences (KFAS) and the Sabah Al-Ahmad Center for Giftedness and Creativity (SACGC). The invention demonstrates EQUATE’s commitment to innovation, and a continuous drive to promote an environment of technological platform for human capital advancement. The new robot enables new levels of access to confined locations during maintenance inspections without human intervention, this means uncompromising safety and efficiency standards across every element of the business. Nawaf Al-Khaledi, Vice President for Technical Services at EQUATE Group, said: “EQUATE has always encouraged innovation to effectively improve as a global organization. The invention is a measurable improvement in the use of effective technology to support and advance maintenance. This robotic solution will not only keep employees safe, but also improve productivity levels, cost and time efficiencies for our business. Nawaf added: “On behalf of everyone in the EQUATE Group, I extend our congratulations on the new invention to the team of engineers and every member who played a role in this success.” EQUATE’s commitment to innovation has been recognized on multiple occasions, including additional internationally patented inventions by EQUATE colleagues Suhaim Al-Hajeri in 2017, and Nabeel Al-Kandari in 2019. The achievements align with Kuwait’s Global Innovation Index – an international framework followed by the country to improve its innovation landscape, and the Kuwait Vision 2035 presented by His Highness the Amir of Kuwait, Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah. About EQUATE Group The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.

EQUATE Group Unifies Sustainability Efforts Globally- Enhancing value creation through global integration

KUWAIT, 1^st September, 2020 — EQUATE Group has published its latest sustainability performance results as it continues on its path to create long-term value and positive change in the communities it serves around the world. The company’s Sustainability Report 2017/18, was prepared in accordance with Global Reporting Initiative (GRI) standards and received the GRI Materiality Disclosures Stamp. The report’s theme, Enhancing Value Creation through Global Integration, highlights the integration of EQUATE Petrochemical Company and its North American subsidiary MEGlobal as one organization - EQUATE Group - and outlines the collaborative efforts across different functions. This integration has enabled greater value creation for the group and further paved the way for long-term, sustainable growth. The report demonstrates EQUATE’s sustainability performance at multiple levels in the areas of economic contribution, environmental impact and care for people and communities. Dr. Ramesh Ramachandran, EQUATE Group President and CEO, said: “As a global player in the petrochemical industry, we are conscious of our responsibilities at a global, regional and local level. We are wholeheartedly committed to the United Nations Sustainable Development Goals to which we align our sustainability strategy. Through our sustainability efforts, we aim to move towards operating in a sustainable economy, sustainable environment, and a sustainable community. “ Dr. Abeer Al-Omar, EQUATE Group Sustainability Committee Leader, said: “We apply a triple bottom line approach to business across our areas of operation, and into the economies and communities in which we have presence. Measurement is key to achieving real results, and our bi-annual Sustainability Report holds us accountable for our progress and keeps us on track in our commitment to making life better for all.” The report can be found at: http://www.equate.com/reporting/ ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

EQUATE Announces Financial Results For Second Quarter, 2020

Kuwait, August 31, 2020 - The EQUATE Group, a global producer of petrochemicals and the second largest producer of ethylene glycol in the world, today announced its second quarter (Q2) 2020 earnings, reporting $159 million in EBITDA - a 31% decrease from $231 million in Q2 2019, and $693 million in revenue, a 16% decrease from $822 million in Q2 2019. Net income after tax stood at $27 million in Q2 2020, a 79% decrease from $126 million in the same period last year. Despite unpredictable global challenges EQUATE’s facilities around the world continued to operate safely and maintain production rates. The company remains the leading low-cost producer with 100% sellout of all its products globally. This includes EQUATE’s US Gulf Coast plant production, which began operating in October 2019, and is already at 15% above nameplate capacity. In order to effectively manage debt liability, in Q2 EQUATE completed a $1.6 billion dual tranche issuance and secured $300 million with local banks for a tenor of three years to re-finance $1.9 billion in bank loans. Commenting on the results, Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group, said: “Despite significant global headwinds, EQUATE EBITDA margins are above 29% of sales due to cost control and our market-leading position across the globe. The company has a well-balanced debt maturity profile, reducing costs and providing stability amidst current market conditions.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com. Disclaimer This earnings announcement (the Announcement) is for information only. The announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE receives Global Award of Merit for MEGlobal “BookraMEG” Oyster Creek Project

OYSTER CREEK, TX – The EQUATE Group has added a new global award to its list of accomplishments, as the MEGlobal BookraMEG Oyster Creek Project has been named an Award of Merit winner in the Power/Industrial category of the ENR Best Project Awards of 2020. The world-scale 750,000 metric-ton-per-annum monoethylene (MEG) glycol and di-ethylene glycol facility (DEG) was constructed in Oyster Creek, Texas ahead of schedule, below budget and with an excellent safety record. It was the first time the EQUATE Group constructed a new EG facility in the United States. EQUATE CEO-elect and Sr. Vice President Naser Al-Dousari credited the project team and ownership for working together to build a world class facility in a region that provides access to plentiful feedstocks and global markets. “We are truly humbled by this global honor,” he said. “This project demonstrated what can be accomplished when you bring together global petrochemical leadership with a dedicated expert project team. We thank everyone who played a part in delivering the BookraMEG project to EQUATE’s portfolio and strengthening our ability to reach customers around the world.” The project was co-submitted for award by MEGlobal, Worley (general contractor) and Fluor (construction contractor) and was one of 30 selected from a record number of entries. The submissions were judged by an international panel of industry experts. “The panel looked at projects in many markets and examined safety performance, innovations, challenges, and design and construction quality – with a special emphasis on the diversity of global project teams and their collaboration,” said Engineering News-Record editor Scott Blair in a news release. “They also considered how the project benefits the local community and/or the construction industry.” The winners of ENR’s Global Best Project Awards will be celebrated at a virtual ceremony in September. About EQUATE Group: The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.

MEGlobal "BookraMEG" Oyster Creek Project named Best Project Winner – Texas and Louisiana - by Engineering News-Record

OYSTER CREEK, TX – The EQUATE Group is proud to announce that the MEGlobal BookraMEG Oyster Creek Project has been named the 2020 Best Project in the Industrial/Energy category by ENR Texas & Louisiana. The project - nicknamed "BookraMEG" (meaning "future MEG") - is a world-scale 750,000 metric-ton-per-annum monoethylene (MEG) glycol and di-ethylene glycol facility (DEG) built in Oyster Creek, TX as part of EQUATE’s subsidiary, MEGlobal. In addition to being completed ahead of schedule, below budget and with an excellent safety record, it was the first time the EQUATE Group constructed a new EG facility in the United States. "During a period when there was an extraordinary number of construction projects in the US Gulf Coast, MEGlobal was able to capitalize on the expertise of its shareholders and the collaboration of its contract partners," said Dr. Ramesh Ramachandran, CEO of EQUATE. "Dow’s world class engineering and procurement support coupled with the active participation of the global engineering work force of EQUATE enabled us to select the best work practices across the world. We will forever be grateful to this project team that delivered a world scale plant safely and ahead of schedule" The project was co-submitted for award by MEGlobal, Worley (general contractor) and Fluor (construction contractor) and was one of 18 selected from more than 130 submissions. "This was an outstanding project in every sense and we are incredibly proud to be recognized for the teamwork, safety commitment and operational excellence demonstrated by the entire organization," said Clarence Stadlwieser, MEGlobal Project Director. The project was judged on its safety, international teamwork, ability to overcome challenges, innovation, complexity, contribution to the industry/community, construction quality and craftsmanship, and functionality of design and aesthetic quality. Jason Kraynek, Fluor’s senior VP Sales – Energy & Chemicals, said safety was the first priority of the project. "MEGlobal, Worley, and Fluor were fully aligned that safety was the overriding project objective and nothing would compromise this attitude. As other project contractors were brought on board, they were aligned with this objective and a key part of contractor selection was the contractor’s past safety record. The entire project senior management team continuously emphasized focus on safety, both in design and execution of construction," he said. As a result, the Total Recordable Incident Rate (TRIR) was TRIR of 0.054. Stephen Hillier, Worley’s President added, "It was no small feat, but working together, we were able to complete this world-scale facility eight months faster than the industry average. The success of the project is testament to the rigor and dedication of the team – always collaborating towards a common goal. Over the course of the project, we achieved continuous safe work, minimized rework and met project requirements. I’m grateful to MEGlobal for the trust they had in Worley and Fluor to partner with them and accelerate construction in a safe manner." The winners of ENR’s National Best Project Awards will be celebrated at a ceremony in Houston on Oct. 23, 2020. - end - About EQUATE Group: The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. About MEGlobal MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. As a subsidiary of EQUATE Petrochemical Company (EQUATE), MEGlobal is part of the EQUATE Group which is the world’s second largest producer of EG. Visit www.meglobal.biz for more information.

EQUATE announces new leadership appointments

Today, the Board of Directors of the EQUATE Group is pleased to announce two new senior leadership appointments. Sudhir Shenoy has been named Sr. Vice President of EQUATE, effective October 1, 2020. He will succeed Naser Aldousari, who has been appointed as the new Chief Executive Officer (CEO) of EQUATE, effective October 1, 2020. Shenoy was previously Country President & CEO of Dow Chemical International Pvt. Ltd (Dow India), – a global material science company with India sales at over US$1.2 billion. Shenoy joined Dow in 1997 as a sales manager, and then moved into various management roles in Sales, Business, Asset and Commercial Management, based out of developed markets such as Europe, as well as fast growth markets such as China and India. He managed across large businesses like polyurethanes to market-facing businesses such as Home & Personal Care and Water Solutions. With his diverse expertise in his 20+ years with Dow, he played a key role in Dow’s growth in the specialty business segments, helping transform the company to a more customer-centric and innovation-focused organization. "Having the opportunity to join EQUATE – an organization of global excellence within the petrochemical industry - is one that I am delighted to assume,” said Shenoy. “I look forward to being part of an organization that has enjoyed strong leadership since its inception and hope to contribute learnings gained in my career in other parts of the world for the long-term success of EQUATE.” The Board also announced Phisanu Sermchaiwong, currently Dow’s Area Finance Director – Asia Pacific, will return to Kuwait to re-assume the EQUATE Chief Financial Officer role. He will replace Dawood Alabduljalil, Chief Financial Officer (CFO) for EQUATE since 2018, who is retiring in October, 2020. Sermchaiwong has held roles in Dow such as Financial Planning manager for North America, CFO of the SCG-Dow Group of joint ventures and Finance director for Dow Thailand. In 2009, he was appointed global Financial Planning director for the Treasury department and in 2014 he was appointed CFO of EQUATE. He was appointed to his current role in 2018. He said he looks forward to re-joining EQUATE. “EQUATE’s culture of excellence puts us in the right position to continue to build on our success and lead our industry and communities into the future,” Sermchaiwong said. Sulaiman AlMarzouqi, Chair of the EQUATE Board of Directors, said the organization is committed to a smooth and seamless transition within the senior leadership team as EQUATE prepares for a new era of continued success and growth. “We welcome these two excellent leaders to our team as EQUATE continues to maximize stakeholder value by providing outstanding products and services to our customers,” he said. “We also recognize Mr. Dawood Alabduljalil for his contribution to EQUATE’s standing in global markets, and its continued success in the industry, and we wish him a long and healthy retirement.” EQUATE Vice Chairman from Dow, Mr. Raja Zeidan added, "We are confident that with their strong industry expertise and experience, Mr. Shenoy and Mr. Sermchaiwong will do a tremendous job within the leadership team led by our new CEO, Naser Aldousari. I expect to see EQUATE continuing to build on its culture of excellence as an internationally recognized industry leader.”

EQUATE announces new CEO

KUWAIT, June 15^th, 2020 — Effective Sept. 30, 2020, Dr. Ramesh Ramachandran will retire as CEO of the Greater EQUATE Group. He will be replaced by Mr. Naser Aldousari, current Senior VP of EQUATE, whose career has spanned more than 24 years in the global petrochemical industry and includes several senior leadership roles with Petrochemical Industries Company (PIC) and membership on the EQUATE and The Kuwait Olefins Company (TKOC) Boards of Directors. Sulaiman AlMarzouqi, Chair of the EQUATE Board of Directors, said the organization is committed to a smooth and seamless transition within the senior leadership team as EQUATE prepares for a new era of continued success and growth. On behalf of the Board, he thanked Dr. Ramachandran for his long and dedicated service to MEGlobal and EQUATE that delivered extraordinary results across the globe. “As we enter a next phase of growth of EQUATE, Mr. Aldousari is ideal to take over the leadership of this great company,” he said. “He has the experience, knowledge and vision to lead EQUATE through this challenging time and prepare it for new levels of success in the future.” EQUATE lead director from Dow, Mr. Raja Zeidan added, “We are looking forward to the leadership that Mr. Aldousari will bring to our organization. We also thank Dr. Ramachandran for the many milestones he achieved while CEO with MEGlobal and then CEO of EQUATE. He brought a new level of shareholder value and a global perspective that has become a core part of our identity and strategy. We thank him deeply for his leadership and dedication.” Mr. Aldousari said he is looking forward to his new responsibilities. "I am honored to assume the role of CEO of EQUATE,” Aldousari said. “I know this organization’s impressive achievements are only the beginning of what we can accomplish. I am grateful for the confidence placed in me by the Board and am committed to continuing the operational excellence, innovation and global leadership for which EQUATE has become known.” He added, “I would like to thank Dr. Ramachandran for his hard work, innovative thinking and commitment to EQUATE’s values. He has taken us to a new level of achievement and has given us the platform from which to launch a new era of success for EQUATE.” Dr. Ramachandran called his time as EQUATE CEO one of the pinnacles of his career. “It has been a privilege to work with a team of people dedicated to excellence, in whatever division or role in which they work,” he said. “EQUATERs can be proud of the successes we have achieved in the past few years and your resilience and determination will serve you well. Naser will make a superb CEO and with the support of the new leadership team, I have full confidence in his ability to continue the organizational excellence that makes EQUATE a global industry leader.” About EQUATE Group The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.

EQUATE- Kuwait Offices Remains Closed

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). EQUATE- Kuwait Offices will remain closed until further notice.

EQUATE Announces Financial Results For First Quarter 2020

Kuwait, May 4, 2020 -- The EQUATE Group, a global producer of petrochemicals and the second largest producer of Ethylene Glycol in the world, today announced its Q1 2020 unaudited earnings, reporting $250 million in EBITDA - a 15% decrease from $294 million in Q1 2019, and $729 million in revenue, an 18% decrease from $889 million in Q1 2019. Net income after tax stood at $97 million in Q1 2020, a 47% decrease from $183 million in the same period last year. EQUATE’s facilities around the world continued to operate safely despite several external challenges, notably the global COVID-19 pandemic and huge swings in oil prices. The average price of ethylene glycol (EG) in Q1 was $473/MT compared to $625/MT in Q1 of 2019. Average prices of Polyethylene (PE) in Q1 2020 were $828/MT compared to $1,044/MT in Q1 2019. The significant headwinds on pricing were offset primarily by the volume increase from the new low-cost EG facility on the US Gulf Coast. Commenting on the results, Dr. Ramesh Ramachandran, President and CEO of the EQUATE Group, said: “The margin compression seen due to the lower naphtha prices and COVID-19-related demand destruction is expected to last through Q2. These low prices have seen reduced production at methanol to olefins (MTO) and coal to olefins (CTO) based facilities. The decrease in supply due to lower capacity utilization at (MTO) and (CTO) facilities coupled with demand pick up post COVID-19 should improve margins by Q3/Q4.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com. Disclaimer This earnings announcement (the Announcement) is for information only. The announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Group Reports Fourth Quarter Results for 2019

KUWAIT, April 2, 2020 — The EQUATE Group, a global producer of petrochemicals and the second largest producer of Ethylene Glycol in the world announced its Q4 2019 and full-year this week. EQUATE reported $335 million in EBITDA, a 22% decrease from $427 million in Q4 2018, and $825 million in revenue, a 22% decrease from $1,069 million in Q4. Net income after tax stood at $186 million in Q4 2019, a 36% decrease from $292 million in the same period last year. Commenting on the results, Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group, said: “Global headwinds in commodity markets in 2019 negatively impacted results, compared to 2018. However, our global footprint with ethane-based ethylene provides us with a highly competitive cost position to withstand the current market conditions. “In addition, the start-up of our new 750,000-metric ton ethylene glycol facility in Oyster Creek, TX ahead of schedule and within budget, was a testimony to the ability of EQUATERS to deliver and exceed expectations. Shipping of volume to customers from the new facility began in November.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com Disclaimer This earnings announcement (the Announcement) is for information only. The announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE- Kuwait Offices Closure

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). EQUATE- Kuwait Offices will remain to be closed until April 23rd, 2020.

EQUATE- Kuwait Offices Closure from March 12th- 26th 2020

EQUATE supports the Kuwait government in its actions to contain the spread of coronavirus (COVID-19). In alignment with the Council of Ministers decision, EQUATE- Kuwait will be closed from the 12- 26 of March, with wok resuming on the 29^th of March .

Successful Production of 25% Chemically Recycled PET: Viridis 25 Announced

First food-grade PET (polyethylene terephthalate) made with 25 per cent chemically recycled plastic Kuwait, January 23, 2020 – Leaping forward with a breakthrough innovation to help address the global need for the increased use of chemically recycled PET; the EQUATE Group today announced the production of the first successful batch of Viridis 25. Viridis 25 is a new food-grade polyethylene terephthalate (PET) by Equipolymers (EQP), which uses up to 25% chemically recycled PET as feedstock, significantly reducing the need for virgin PET, thereby helping close the loop in the circular economy. As part of their sustainability strategy, EQP started this innovative project in 2009 to make use of more recycled PET, the basis of most plastic beverage bottles. They began with Viridis 10, a PET grade containing up to 10% recycled PET, but, in 2016, EQP advanced to the V25 project in collaboration with a major brand owner to increase the amount of recycled material in its PET. “We continue to progress in our journey to lower our carbon footprint with world class manufacturing facilities and producing a 25 per cent chemically recycled PET is a significant milestone,” said Naser Aldousari, Senior Vice President at the EQUATE Group. “It was a collaborative effort between the petrochemical and commercial business communities, and as a result Viridis 25 will have far-reaching environmental, social and business benefits.” Viridis 25 is now available in the market through the EQUATE Group’s subsidiary EQUIPOLYMERS and will primarily target the European market. Muayad Al-Faresi, Global Business Director, PET at EQP said, “There is strong demand for PET bottles, and our mission is to provide a sustainable product that meets quality of life and public health needs. Chemical recycling technology has opened new horizons for the plastic industry, enabling us to address the increasing environmental impact and waste concerns in a sensible and sustainable way. EQP has tapped into this opportunity, making it a focus area to foster future innovation.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com.

EQUATE Continues to Sponsor Annual Forum of Gulf Petrochemicals and Chemicals Association (GPCA)

Kuwait, December 04, 2019: EQUATE Group, a global producer of petrochemicals and the world’s second largest producer of Ethylene Glycol, continues to sponsor the Annual Forum of the Gulf Petrochemicals and Chemicals Association (GPCA) in its 14^th year, supporting discussions in this year’s edition on strategies that chemical companies should adopt to navigate through new market complexities and maintain profitability and commitment to stakeholders. The Forum takes place in Dubai from December 3 to 5, gathering more than 2,100 international chemical executives under the theme of ‘Winning through strategic partnerships’. Speaking of EQUATE’s participation, Senior Vice President, Naser Al-Dousari, said: “Today’s dynamics are a challenge to our markets. Capturing the opportunities and mitigating the risks is key for companies operating in global markets. GPCA has created forums aimed at enabling strategies focused on sustainable growth, efficiency, productivity and safety, as well as meeting the growing demand for petrochemical products.” “At EQUATE, we are working towards a sustainable position that enables us to deliver to our stakeholders. We have recently inaugurated the new MEGlobal Oyster Creek site in Texas, USA, which meets the most advanced standards of operations and quality products to support growing demand for ethylene glycol while maintaining efficiency.” A founding member of GPCA, EQUATE has supported GPCA since 2006 to create a platform for both global and regional producers to discuss and debate key challenges and opportunities, make new business connections and renew existing relationships from the Middle East and beyond. The Company is also sponsoring a group of students from the College of Engineering and Petroleum at Kuwait University to enable them to take part of GPCA’s special program ‘Leaders of Tomorrow’. The program provides a platform for students to engage in science, technology, engineering and mathematics (STEM) subjects, and to learn and connect with leading industry experts at GPCA’s networking events. The sponsorship comes as part of EQUATE’s investments in inspiring and empowering the younger generations to join the industry and support its development. EQUATE has an ongoing Memorandum of Understanding with Kuwait University to partner and collaborate in industrial and academic fields. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com .

KPC and EQUATE Prepare to Inaugurate the 4th KIACS 2019 Cyber Security Conference December 1-2, 2019

Kuwait, November 27, 2019 Kuwait Petroleum Company (KPC) & Subsidiaries and EQUATE announced today that they will inaugurate the Kuwait 4^th Industrial Automation and Control Systems (KIACS) Conference 2019, which will be held at Maha Ballroom- the Regency Hotel, on December 1^st and 2^nd, 2019. The conference will gather experts in the oil and gas, technology and other industries to showcase the latest advancements made in the field of cyber security in response to evolving threats on industrial control systems. The conference will be hosted under the Patronage of Minister of Oil and Minister of Electricity and Water. KIACS 2019 focuses on the progressive approach in detecting and eradicating increasingly sophisticated and complex cyber-attacks against the industry. Commenting on the upcoming conference and its objectives, the head of IT Steering Committee in the K-Companies and Kuwait National Petroleum Company Deputy CEO for Projects, Mr. Abdulla Fahhad Al-Ajmi, said: “We reaffirm our commitment to addressing challenges to our cyber security and the solutions that aim to protect our industry. At this unique conference, we shall discuss how to face those threats to the control systems.” For his part, Vice President for Technical Services at EQUATE, Nawaf Al-Khaledi, commented: “We are pleased to contribute to addressing the challenges at every level of industrial control systems and to share experiences. This will help develop the necessary governance and compliance measures required to counter these challenges. We look forward to host speakers from across the globe and sectors to join efforts in safeguarding the overall sustainability.” KIACS 2019 Conference is sponsored by the Kuwait Foundation for the Advancement of Sciences (KFAS), Fortinet, Schneider Electric, Oracle, Honeywell, Thales and Kuwait University. Over 1,800 individuals will be attending the Conference, including 20 global and local experts who will be drawing attention to the latest advancements made in the field of cyber security in response to evolving threats on industrial control systems. About KIACS Cyber Security Conference Kuwait hosts the 4^th issue of Kuwait Industrial Automation and Control Systems Cyber Security Conference (KIACS). It is the first of its kind in Kuwait. It addresses the cyber security threats and cyber crisis in Industrial Control Systems (ICS) for oil, gas, petrochemical and power plants. Organized and hosted by Kuwait Petroleum Corporation (KPC), its subsidiaries and EQUATE Group, the key objective of the event is to share experience, leverage knowledge and impart awareness among the industrial communities in Kuwait, neighboring Gulf countries as well as relevant international parties.

EQUATE Prides Invention of Employee, Patented Internationally For Protecting Marine Platforms from Corrosion

The EQUATE Group today announced its pride for the second invention by an employee to be patented internationally by the U.S. Patent Office. Nabeel Al-Kandari, Electrical Discipline Activity Specialist at EQUATE, invented an anode assembly that creates a cathodic protection to protect offshore steel platforms from corrosion on the long-term. The invention was made possible thanks to the cooperation between the Company, the Kuwait Foundation for the Advancement of Sciences (KFAS) and the Sabah Al-Ahmad Center for Giftedness and Creativity (SACGC). The milestone is a new contribution to the advancement of Kuwait’s Global Innovation Index. EQUATE Vice President for Technical Services, Nawaf Al-Khaledi, said: “We are very proud at EQUATE to have enabled an environment of innovation and advancement which foster our talented human capital, and we always aim to advance the standards of environment, health, safety and security in our organization as well as the industry at large.” Nawaf added: “On behalf of everyone, I extend our congratulations on the new invention to Nabeel Al-Kandari and every EQUATER who contributes to our success.” Speaking of this invention, Nabeel Al-Kandari said: “The assembly implements safety procedures, and takes into consideration cost control and maintenance. The invention will enable EQUATE to reduce maintenance time from 400 hours to 2 hours only”. This is the second invention by an employee at EQUATE to be patented internationally. The first invention was by Saheem Al-Hajery, who was a Senior Discipline Activity Specialist at EQUATE before he retired, and was patented in 2017. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com .

EQUATE Group Reports Third Quarter Business Results

KUWAIT, October 29, 2019 — The EQUATE Group, a global producer of petrochemicals, today announced its Q3 2019 unaudited earnings, reporting $264 million in EBITDA, a 52% decrease from $547 million in Q3 2018, and $811 million in revenue, a 35% decrease from $1,247 million in Q3. Net income after tax stood at $143 million in Q3 2019, a 65% decrease from $406 million in the same period last year. Commenting on the results, Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group, said: “We continue to see steady demand in the market but are experiencing compressed margins due to uncertainty related to tariffs notably in Asia. EQUATE’s lowest cost position at all of its assets across the globe allows us to continue to run at maximum rates. He added: “We are very pleased to announce the startup of the MEGlobal Oyster Creek, TX site in October, 2019, ahead of schedule and in line with budgets, once again demonstrating EQUATE’s operational excellence and ability to deliver on its commitments to customers and shareholders.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com . Disclaimer This earnings announcement (the Announcement) is for information only. The announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Sponsors the Kuwait Oil & Gas Show and Conference 2019

Kuwait, October 15, 2019: EQUATE Group, a global producer of petrochemicals and the world’s second largest producer of Ethylene Glycol, today announced its sponsorship of the Kuwait Oil & Gas Show and Conference (KOGS) 2019, supporting the objectives of the conference in a knowledge-sharing platform that gathers leaders and organizations across the oil and gas value chain to contribute to the advancement of the industry. KOGS is held under the patronage of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, Prime Minister of the State of Kuwait from October 13 to 16. Speaking of the Company’s support to industry conference, EQUATE’s Senior Vice President, Naser Al-Dousari, said: “We believe in the importance of sharing knowledge and expertise amongst industry peers to positively contribute together in its growth on the long term. At EQUATE, we ensure we’re part of these strategic opportunities, including KOGS which is a unique platform for the public sector, led by Kuwait Petroleum Corporation (KPC) and its subsidiaries, and the private sector to engage and share the latest solutions and advancements to industry challenges.” The parallel 4-day multi-disciplinary conference program focuses on science and engineering factors facing those working in Kuwait and the region, a unique business platform showcasing services, products and expertise to over 6,000 oil & gas energy professionals across the value chain. “EQUATE’s support of KOGS and its objectives this year comes as a continuation to its partnership with local and international organizations and associations in an aim to drive innovation and bring technical solutions to the challenges of the industry and the markets it serves.” Said EQUATE’s Vice President Technical Services, Nawaf Al-Khaledi. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

EQUATE Group Announces Official Start-Up of MEGlobal Oyster Creek, TX Site

OYSTER CREEK, TX, USA – Today the EQUATE Group is proud to announce the official start-up of the MEGlobal Oyster Creek Site’s commercial production of fiber-grade, on-spec monoethylene glycol. The plant has a nameplate capacity of 750,000 metric-tons-annually (MTa) of ethylene glycol and access to shipping routes to customers around the world. The new plant will be operated by MEGlobal Americas Inc., a subsidiary of EQUATE Petrochemical Company and is the Group’s first manufacturing facility in the United States. It will produce monoethylene and diethylene glycol, products used in a number of market applications including polyester fibers, polyethylene terephthalate (PET) bottles and packaging, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids and construction materials. Dr. Ramesh Ramachandran, President and CEO of EQUATE, said: “The successful execution of this project demonstrates EQUATE’s ability to leverage its best-in-class practices across the globe. From safety to schedule to cost control, the MEGlobal Oyster Creek Site epitomizes our commitment to operational excellence and efficiency in order to serve the growing customer need for EG across the globe.” The new facility is the first major investment by a Kuwait-based company on the U.S. Gulf Coast. It built on the longstanding relationship between Kuwaiti partner, Petrochemical Industries Company in Kuwait (PIC) and U.S. partner, Dow Inc. (NYSE: DOW), a relationship that was forged during the liberation of Kuwait. That relationship led to the formation of the EQUATE Petrochemical Company, a joint venture between Dow and PIC (42.5% ownership each) as well as Boubyan Petrochemicals Co. K.S.C. (BPC) with 9% ownership and Qurain Petrochemical Industries Co. (QPIC) with 6% ownership.” EQUATE’s Executive Vice President, Naser Al-Dousari, said, “The new Oyster Creek MEGlobal plant is an expansion of the Company’s ethylene glycol business in order to meet fast-growing global demand. It greatly enhances our global presence and falls under our continuous plans to maximize value as a leading ethylene glycol producer and supplier.” The MEGlobal Oyster Creek plant is leveraging the U.S. shale gas advantage by utilizing ethylene from the Dow Oyster Creek facility. The site has also licensed Dow’s METEOR™ technology for its processes. The project achieved several milestones in its construction, including more than 3.5 million consecutive safe work hours. It created 55 new full-time and 25-35 contract jobs. It employed almost 2,000 construction workers during project’s peak and will contribute approximately $24 million per year to the local economy. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com . About MEGlobal MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. As a subsidiary of EQUATE Petrochemical Company, MEGlobal is part of the EQUATE Group which is the world’s second largest producer of EG. Visit www.meglobal.biz for more information.

EQUATE Group Announces Inauguration of MEGlobal Oyster Creek

OYSTER CREEK, TX, USA – Today the EQUATE Group is proud to announce the inauguration of its new MEGlobal Oyster Creek site in Oyster Creek, Texas, USA. The momentous occasion was celebrated with a ribbon cutting ceremony on site, attended by EQUATE shareholders and management. The world-scale, 750,000 metric-tons-annually (mta) ethylene glycol (EG) manufacturing facility is part of EQUATE’s wholly-owned subsidiary, MEGlobal Americas Inc. (MEGlobal.) It will produce monoethylene and diethylene glycol, products used in a number of market applications including polyester fibers, polyethylene terephthalate (PET) bottles and packaging, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids and construction materials. “This is a major achievement for the EQUATE Group and will benefit both Kuwait and the U.S.,” said EQUATE President and CEO Dr. Ramesh Ramachandran. “With a growing global market for EG products, it will provide us with greater flexibility to satisfy our customers’ needs while capitalizing on the U.S. shale gas opportunity. This site builds on our global footprint and is part of our strategy to grow our value-added business as a leading ethylene glycol producer and supplier.” Ramachandran noted the site builds on the longstanding relationship between its Kuwaiti partner, Petrochemical Industries Company in Kuwait (PIC) and the U.S. partner, Dow Inc. (NYSE: DOW), a relationship that was forged during the liberation of Kuwait. It led to the formation of the EQUATE Petrochemical Company, a joint venture between Dow and PIC (42.5% each ownership) as well as Boubyan Petrochemicals Co. K.S.C. (BPC) with 9% ownership and Qurain Petrochemical Industries Co. (QPIC) with 6% ownership. “The EQUATE Group began with large investments in Kuwait and now comes full circle with the investment in Texas. Our ability to leverage the project execution and operational excellence expertise of Dow allowed us to deliver the project on time and on budget which is a remarkable accomplishment,” Ramachandran said. The project achieved several milestones in its construction, including more than three million consecutive safe work hours. EQUATE Executive Vice President Naser Al-Dousari added, “This is an important milestone in EQUATE history, adding manufacturing capacity on the U.S. Gulf Coast to satisfy customer needs in the region. EQUATE’s glycol footprint in the Americas is as large as that in Kuwait. The community in Texas has been very welcoming to this investment and we look forward to being a part of this region.” The site created 55 new full-time long-term jobs and 25-35 contract jobs. It employed almost 2,000 construction workers at peak. Commercial quantities of finished product are expected to begin shipping by November 2019. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com. About MEGlobal MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. As a subsidiary of EQUATE Petrochemical Company (EQUATE), MEGlobal is part of the EQUATE Group which is the world’s second largest producer of EG. Visit www.meglobal.biz for more information.

Brazosport College dedicates MEGlobal Student Pavilion

LAKE JACKSON — Brazosport College is pleased to recognize the contributions of MEGlobal to the Brazosport College Foundation with the dedication of the MEGlobal Student Pavilion building at Brazosport College. The facility was dedicated during a sign unveiling at the College on Sept. 6. A number of noted dignitaries were on hand for the unveiling, including Brazosport College President Dr. Millicent Valek, CEO and President of EQUATE Petrochemical Company Dr. Ramesh Ramachandran, members of the Brazosport College Board of Regents, Foundation Board of Directors, BISD educational partners, the EQUATE Group’s Global Leadership Team and the MEGlobal Leadership Team. Since becoming part of the Brazosport community in 2015, MEGlobal Americas Inc. (MEGlobal) has been a tremendous partner for the Brazosport College Foundation, supporting the programs, facilities and students at Brazosport College. In December 2018, in a move designed to help continue building the workforce of tomorrow and support the educational dreams of local students, MEGlobal made a $1 million investment in the Brazosport College Foundation for student scholarships. This investment established the COLLEGE NOW Endowment, which will provide dual-credit scholarship funds for Brazosport ISD students attending Brazosport College, beginning in 2020. “MEGlobal understands the many barriers students face while pursuing a college degree or certificate and this generous gift will provide a sustainable stream of scholarship funds for perpetuity, while allowing an opportunity and the ability for the endowment to grow,” Dr. Valek said. “In honor of their generosity, I am pleased to announce that MEGlobal is naming a prominent building on our campus.” Opened in 2011, the 27,492-square-foot MEGlobal Student Pavilion is a “living room space” for student programs and organizations. The building is also home to a variety of departments within the College, including Student Services, Office of Student Life, Bachelor of Applied Technology, Ace It, Marketing and Communications, Peer Recruiters and the Java Hut snack and coffee bar. “Our company is proof that when you bring different cultures, countries and perspectives together, you build a model for the future,” said Dr. Ramesh Ramachandran, CEO and President of EQUATE Group “We also know that Brazosport College is a pioneer in building a workforce for the future needs of Texas and the world, and so we are incredibly proud to have our name associated with this facility.” The Sept. 6 sign unveiling and dedication was hosted by MEGlobal, Brazosport College, and the Brazoria County Council of Chambers. For more information about the MEGlobal Student Pavilion at Brazosport College or the COLLEGE NOW Endowment, call the BC Foundation at (979) 230-3163.

EQUATE Announces Financial Results for the Second Quarter 2019

Kuwait, July 30, 2019 -- The EQUATE Group, a global producer of petrochemicals, today announced its Q2 2019 unaudited earnings, reporting $231 million in EBITDA, a 59% decrease from $570 million in Q2 2018, and $822 million in revenue, a 35% decrease from $1,264 million in Q2 2018. Net income after tax stood at $126 million in Q2 2019, a 71% decrease from $427 million in the same period last year. Commenting on the results, Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group, said: “Our earnings have been affected by a sudden and strong decrease in ethylene glycol prices, driven by a continued uncertainty of tariffs, volatility in global markets as well as some new capacity that came on line. However, EQUATE’s assets across the globe are all based on ethane feedstock, providing us with a competitive advantage. EQUATE will continue to maintain focus on safety and operational excellence as this challenging pricing environment continues.” ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com. Disclaimer This earnings announcement (the Announcement) is for information only. The announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Petrochemical Company joins Alliance to End Plastic Waste

Kuwait, July 24, 2019 - The EQUATE Petrochemical Company became part of the Alliance to End Plastic Waste (AEPW) on July 10, 2019, joining 11 other new members with a shared vision of developing and bringing to scale solutions to help eliminate plastic waste in the environment. Dr. Ramesh Ramachandran, EQUATE Group President and CEO, said the membership marks a milestone in EQUATE’s journey to create a more sustainable global and local environment. “Joining the Alliance helps to amplify our efforts to bring solutions to address a global need,” he said. “We have joined a strong team composed of the world’s top minds from across the entire plastics value chain and we look forward to being a part of the positive impact this organization is going to have for generations to come.” “We strongly believe that partnerships across government, industry and communities will be the key to addressing the long-term need to end plastic waste, while still recognizing the critical importance of plastic in improving the lives of billions,” Ramachandran added. Naser Al-Dousairi, Senior Vice President of The EQUATE Group, noted that “EQUATE is already active in this space, addressing the issue of plastics waste through both the company’s products and opportunities for action in local communities. Equipolymers, an EQUATE subsidiary, was the first company to innovate a chemically-recycled polyethylene terephthalate (PET), also, Viridis 25 uses 25% recycled plastic material and is clearly pushing the envelope in recycled plastic production through partnerships with other innovative companies such as Coca-Cola.” EQUATE is also investing efforts in individuals and organizations to promote recycling, by partnering with community groups, industry and government to raise awareness on the importance of recycling and correctly recycle PET. The alliance members have developed together a global vision and a comprehensive integrated strategy focusing on 4 key action pillars: Infrastructure development to collect and manage waste and increase recycling; Innovation to advance and scale new technologies that minimize waste; Education and engagement of governments at all levels, businesses, and communities to mobilize action; and, Clean up of concentrated areas of plastic waste already in the environment. Launched in January 2019 with 27 founding members, the Alliance now includes 39 companies around the world that make, use, sell, process, collect, and recycle plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies. Member companies have committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment. The World Business Council for Sustainable Development is a founding strategic partner. For more information about EQUATE’s commitment to sustainability, visit http://www.equate.com/sustainability-strategy/ About EQUATE Group: The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

EQUATE Speaks of Plastic Recycling and Innovations at UN High-Level Political Forum On Sustainable Development

Kuwait, July 22 2019 - The EQUATE Group, a global producer of petrochemicals, participated in the Voluntary National Review (VNR) of the State of Kuwait held during the United Nations’ High-Level Political Forum On Sustainable Development in New York, showcasing the Company’s investments and initiatives in supporting sustainable development. Commenting on the Company’s participation in the Forum, EQUATE Group President and CEO, Dr. Ramesh Ramachandran, said: “On behalf of EQUATE, I extend our sincere gratitude to the General Secretariat of the Supreme Council for Planning and Development for choosing our Company to represent the State of Kuwait at the Forum. We are proud at EQUATE of the milestones we’ve achieved in our Sustainability Strategy and in partnership with public and private organizations around the world.” Speaking on behalf of the Company was Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, who is a member in the Permanent National Guiding Committee of the State of Kuwait. She said: “We believe that the long-term growth of any organization is interlinked with sustainability, this is why we have aligned our strategy with the UN Sustainable Development Goals and the New Kuwait 2035 vision, aiming to contribute to economic welfare, social wellbeing and environmental preservation.” Economically, EQUATE Group contributes to over 60% of Kuwait’s export and economic growth value from non-oil sources, and invested over USD 1 billion in the past five years in the local private sector and a similar amount in payrolls, funneling it back into the economy. In terms of solutions and innovations, EQUATE established Kuwait’s first CO2 Recovery Plant, and invested in its own innovations, such as Viridis 25, a new plastic bottle that uses up to 25% recycled plastic, which will be commercially available in the next couple of months. From its long-standing commitment to environmental preservation, EQUATE joined forces with ‘The Alliance to End Plastic Waste’ on July 8^th to end plastic waste by promoting infrastructure, education and engagement, innovation, and cleanup efforts. We also give equal importance to life on land and under water through our tree-planting initiatives in China and the conservation of the Ellis Bird Farm in Canada. In terms of social sustainability, The Company has also pledged commitment to the United Nations (UN) Women’s Empowerment Principles (WEPs) statement and subsequently launched its ELEVATE program which promotes gender equality. In addition to investing in education and development of engineers. For more information about EQUATE’s commitment to sustainability, visit http://www.equate.com/en/Sustainability.html. About EQUATE Group: The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

EQUATE Supports the Preservation Efforts of Gulf Cultural Heritage at Kuwait’s Sadu House

Kuwait, April 22, 2019 – The EQUATE Group, a global producer of petrochemicals, is sponsoring the preservation efforts of Gulf cultural and artistic heritage at Kuwait’s iconic Sadu House which inspires its name from its mission to preserve the ethnic handicrafts of bedouins also known as Sadu hand weaving. The five-year sponsorship will see EQUATE support the newly established Sadi Studio, an initiative by Sadu House that attracts young artists from the region in an aim to revive the art of Sadu weaving through their works and promote its cultural significance in the history of Gulf states. Speaking of the EQUATE Group sustainability strategy, Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, said: “Our focus at EQUATE is to invest in economic, educational and environmental programs that take us a step forward towards achieving the sustainability goals we aim for, such as the Sadi Studio initiative that supports the revitalization of cultural heritage.” Speaking at the launch event of Sadi Studio, EQUATE Sustainability Committee Member, Fatemah Al-Faresi, said: “Sadu House is one of the very few museums and cultural centers that preserves the local cultural heritage in Kuwait. We look forward to seeing young artists connect our past to our present and aspired future, and invite our local community to take part in this rich experience at Sadi Studio." Commenting on the partnership with EQUATE, Sadu House Chairperson, Sheikha Bibi Duaij Al-Jaber Al-Ali, said: “Sadi Studio brings artists in an innovative platform that inspires from the heritage of weaving and traditional arts, an initiative that we hope will preserve what was once a significant source of living in Kuwait and the rest of the Gulf. We thank EQUATE for their generous sponsorship and look forward to continue working together.” EQUATE aligns its sustainability and community involvement strategy with the UNDP Sustainable Development Goals (SDG) and Kuwait’s 2035 Vision. As part of this strategy, the Group extends its support to various segments of the community and has previously partnered with the Kuwait Blind Association to help establish a youth center for the blind. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com.

EQUATE Launches “ELEVATE” A Groundbreaking Global Program to Support Employee Equality and Diversity

Kuwait, March 18, 2019 -- The EQUATE Group is taking employee equality and diversity to new heights, launching its “ELEVATE” program within the Group’s companies around the world and the community at large. The program is sponsored by EQUATE CEO and President Dr. Ramesh Ramachandran and endorsed by the EQUATE Management Team. “ELEVATE” is part of EQUATE’s continued investment in its human capital as a driver for its sustainability strategy, which aligns with the United Nation’s Sustainable Development Goals (SDG) and the New Kuwait 2035 vision. . The launch was held on International Women’s Day March 8 and provided all global employees with the opportunity to recognize and celebrate of the women in their lives and the women of EQUATE. Explaining the program’s goal, EQUATE Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, said: “At EQUATE, we are reaffirming out commitment to equality and diversity within our group and will be sharing our learnings with our communities. We aim to achieve our goals by identifying opportunities and encouraging a better understanding to the contribution of a sound diversity policy generates ideas, conversations, and can lead to greater mobility and prosperity in line with the overall business objectives.” “ELEVATE” is another example of a program supported by the EQUATE Group that demonstrates its commitment to sustainability, partnering with public and private bodies, including employees, the society and customers in the fields of human development, environment, education, health, as well as public awareness. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

EQUATE Sponsors the Third Kuwait International Health, Safety, Security & Environment Conference and Exhibition

Kuwait, February 21, 2019 – EQUATE, a global producer of petrochemicals and the second largest producer of Ethylene Glycol worldwide, continues to take part of initiatives and programs as part of its commitment to industrial and professional development, and technological and operational innovations that aim to advance the standards of environment, health, safety, and security in the oil, gas and petrochemical industries. In these endeavors, The Company was a main sponsor and participant of the third Kuwait International Health, Safety, Security & Environment (KIHSSE) Conference and Exhibition, the flagship event that has become an international platform dedicated to enhancing the culture of safety and serving the industry, community, academic institutions and non-profit organizations. Held under the patronage of Dr. Khaled Al-Fadhel, Minister of Oil, Minister of Electricity and Water and Chairman of the Board of Kuwait Petroleum Corporation (KPC) and organized by KPC, KIHSSE focused this year on the theme “Transforming HSE Culture for a Resilient Future” in an aim to attain business excellence in the practice of HSSE. Stressing on how HSSE commitment is key to reliability and better performance, field in which EQUATE excels, four of the Company’s engineers conducted sessions on sustaining a culture of HSSE, Industrial Security and Occupational Health, as well as gave an outlook on the field. Also speaking in the conference, Mohammad Al-Shammary, Global EH&S Director at EQUATE, said: “EQUATE has successfully fosters and sustained an interdependent health and safety culture built on caring, teamwork and ownership of Health, Safety, Security and Environment. We uphold the highest standards in the industry and have been recognized year after year by our peers and independent organizations for our efforts. We are glad to take part and share our knowledge with the industry at large in such an established platform and work together to improve the EHS&S performance of organizations.” Throughout its global operations, EQUATE has also heavily invested in the latest advancements to enhance its EH&S standards in operations and was honoured for its outstanding safety procedures, leadership engagement, rigorous reporting standards and its dedication to the protection of people, communities and the environment. EQUATE is also the first company in Kuwait to have obtained the Responsible Care (RC) accreditation and certification, and sets example globally through its fully-owned subsidiary MEGlobal, which was named one of Canada’s Safest Employers last October, winning Gold in the Chemistry category at a ceremony hosted by Thomson Reuters and Canadian Occupational Safety Magazine in Toronto. EQUATE invests significantly in collaborations in the industry to improve EH&S standards as part of its belief that partnerships and knowledge exchange with peers, academic institutions and stakeholders are a necessity to create a platform that would benefit the employees and the industry. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

EQUATE Group announces financial results for 2018, reporting a record-breaking EBITDA of $2.12 billion and Net Income After Tax of $1.56 billion

Kuwait, February 03, 2019 – Today, the EQUATE Group announced its fourth quarter (Q4) 2018 and full-year 2018 earnings. In Q4 2018, the EQUATE Group reported an EBITDA of $427 million, compared to $388 million for the same period in 2017. EQUATE Group’s total EBITDA for 2018 stood at $2.12 billion, compared to $1.73 billion in 2017. Net Income After Tax for the year was $1.56 billion, compared to $1.13 billion in 2017. "EQUATERS across the globe defined excellence in 2018,” said Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group. “The record-breaking EBITDA was a result of extraordinary performance across all functions. We had an exceptionally safe year without any recordable EH&S incidents across the globe, a manufacturing volume record at all global sites and a very good pricing environment - notably in the first three quarters - and excellent cost optimization.” Looking ahead to 2019, Ramachandran said, “Global headwinds in the commodity environment and high volatility due to uncertainty of tariffs resulted in a slowdown in the fourth quarter that persists in early 2019. That said, EQUATERS have always overcome challenges and I have every confidence that their expertise and commitment will continue to result in success.” The EQUATE Group maintained its leadership position as the second largest producer of EG globally, with EG production of over 2.5 million metric tons. This market leadership will be further strengthened in the coming months with an additional 750,000 MT in EG capacity as the new Oyster Creek, Texas Site comes on line on the US Gulf Coast. ABOUT THE EQUATE GROUP The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information. Disclaimer This earnings announcement (the Announcement) is for information only. The Announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The audited financial statements of the Group for the year ended 2018 are not currently available for publication but will be published by the EQUATE Group in due course. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement. Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Group Completes its Facilities’ Amendment and Extension Exercise

Kuwait, 13 December 2018 -- The EQUATE Group, a global producer of petrochemicals, announced the successful completion of an amendment and extension exercise on its $1.9 billion Term Loan and $1 billion Revolving Credit Facility (“RCF”). The Group worked with its existing relationship banks to extend the tenor on its Term Loan and RCF by 2 years. The Term Loan maturity has been extended from June 2021 to June 2023 and the RCF maturity has been extended from June 2020 to June 2022. The RCF has two further extension options. The EQUATE Group CFO Dawood Al-Abduljalil said, “We are very pleased to successfully and efficiently complete this amendment and extension exercise. We are especially proud of our great banking relationships and the EQUATERs without whom this exercise would not have completed”. Through this tenor extension exercise, the Group has been able to take advantage of strong bank market conditions to optimize its maturity profile. Furthermore, the Group has also been able to achieve considerable pricing reduction. The EQUATE Group appointed Citi and SMBC as Coordinators to assist in running the amendment and extension exercise. The banks on the transaction include: Coordinators:

Citi
SMBC

Bookrunners and Mandated Lead Arrangers:

BTMU
Citi
FAB
Mizuho
SMBC

Mandated Lead Arrangers:

National Bank of Kuwait
Kuwait Finance House

Lead Arrangers:

HSBC
Intesa
JP Morgan

About EQUATE Group: The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information. Disclaimer: This press release is for information only. EQUATE Group does not make any representation regarding, and assumes no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the release and assumes no obligation to update any information. Nothing in this press release shall be considered or in any way construed as an offering of, or an invitation to subscribe in, securities. For inquiries: Ali Al-Hamad alhamaay@equate.com +965 97228611 Diana Kaadan dkaadan@impactecho.com +965 95553867

GPCA, SABIC & EQUATE Organize in Kuwait the 4th GPCA IP Awareness Workshop

Kuwait, 12 December 2018 -- As part of development through joint training, the 4th Intellectual Property (IP) Awareness Workshop was organized by the Gulf Petrochemicals & Chemicals Association (GPCA) in collaboration with SABIC and EQUATE Petrochemical Company, a global producer of petrochemicals, during December 12 and 13, 2018. The two-day workshop is aimed at promoting awareness about the practice and implementation of IP. Attendees discussed important issues related to IP, such as applications and disclosures, as well as strategies in protecting IP within the region and around the world. The Secretary General of GPCA Dr. Abdulwahab Al-Sadoun said, “The GCC chemical industry’s patent applications have increased significantly over the years, reaching close to 2,400 in 2017. Over the past decade, the number of chemical patents obtained in the region grew by 6% per annum, almost on par with global growth of 5.6%. This trend is an indication of the industry’s continuous drive towards innovation and the need to create awareness about the importance and protection of IP.” “In line with this, GPCA is proud to be organizing the 4th edition of the IP Awareness Workshop, dedicated to the practice and implementation of IP and best in class strategies for protecting it within the region and the world. Special thanks goes to our partners EQUATE and SABIC for their extensive support in making this another successful edition.” Al-Sadoun added. On his part, EQUATE CFO Dawood Al-Abduljalil said, “IP is a key element of innovation in any industry that aspires to grow and develop by having new practices. Through the collaboration of various organizations from around the world, this forum is of essential significance in creating awareness about the importance and steps relevant to protecting intellectual property.” This successful series of IP awareness workshops is attended by a number of professionals from the chemical and petrochemical industry, as well as IP strategists, lawyers, innovators, researchers, patent officers, marketing and business development practitioners. Previous GPCA IP workshops were held in the UAE and Saudi Arabia. The workshop series aims to create awareness on this important topic amongst the regional industry and related value chain partners. About the Gulf Petrochemicals & Chemicals Association The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over US$108 billion worth of products every year. GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry. Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports. For more information, visit www.gpca.org.ae. About the EQUATE Group: The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information. For inquires: Ali Al-Hamad alhamaay@equate.com +965 97228611 Diana Kaadan dkaadan@impactecho.com +965 95553867 View related images

MEGlobal Canada invests $2 million in MEGlobal Athletic Park Expansion

LACOMBE, ALBERTA, CANADA - MEGlobal Canada ULC. Is proud to announce a $2 million investment in the expansion of the MEGlobal Athletic Park in Lacombe, Alberta to enable the park to add track and field facilities, improve spectator areas and enhance the existing field house. The investment comes as part of a long-term partnership with the Lacombe Athletic Park Association (L.A.P.A.) and project supporters the City of Lacombe, Lacombe County and Wolf Creek Public Schools. As part of the agreement, MEGlobal will retain naming rights to the park until 2040. Rocco Schurink, Vice President of Operations for MEGlobal Canada, said MEGlobal’s contribution to the park is part of the company’s Focus 2020 Sustainability goals and ongoing commitment to community sustainability. “MEGlobal is extremely excited to support this expansion because MEGlobal Athletic Park not only provides our schools, other local teams and community groups with a state-of-the-art athletic facility for sports and other activities, but it also provides a significant economic contribution to the whole region,” he said. “It is a gem for our community and a great source of pride for our employees and local residents.” The park currently consists of all-weather playing field, basketball court, field house, seating and lighting. It hosts hundreds of sporting events annually, as well as concerts and other community activities. In 2017, an estimated 75,000 people attended the park as athletes and fans, as well as for community events. Bruce Miller, Vice Chair of the L.A.P.A., said the expansion is the result of stakeholder meetings and rising park needs. “There are now several groups that are committed to completing the original dream for the park to include an international regulation track and all the field event facilities and the need now justifies the project, so we are thrilled to be able to expand the facilities to accommodate that growth and add new features,” said Miller. “It’s thanks to our great partnerships with MEGlobal, the City, the County and the School Division that we are able to move forward on this expansion. Each organization understands the value of their investment as we provide access to an amazing facility and promote recreational, health and economic benefits in our community.” Work on the expansion of the field house and spectator enhancements is expected to begin in spring of 2019, and the track with field event facilities would be constructed in 2020. The MEGlobal contribution was approved by the EQUATE Board of Directors at their meeting in September, 2018. “EQUATE is extremely proud to support this vital community investment by MEGlobal Canada,” said Dr. Ramesh Ramachandran, President and CEO of The EQUATE Group. “MEGlobal Athletic Park creates a place where athletic pursuits intersect with community engagement, creating an economic engine for the Central Alberta region for the benefit of players, families and community members throughout the area. On behalf of all EQUATERs, I would like to extend my appreciation to the L.A.P.A, City, County and Schools for their partnership and vision.” More information about the MEGlobal Athletic Park is available at www.lacombeathleticpark.ca. About MEGlobal MEGlobal is a global leader in the manufacture and marketing of ethylene glycol (EG). With a worldwide network, MEGlobal markets its products throughout Asia, the Americas, Europe and the Middle East. MEGlobal embraces the principles of Responsible Care®, focusing on the safety of employees, neighbors, communities and the environment in every aspect of its operations. As a subsidiary of EQUATE Petrochemical Company (EQUATE), MEGlobal is part of the EQUATE Group which is the world’s second largest producer of EG. Visit www.meglobal.biz for more information. View related images

EQUATE Plays A Key Role In The Transformation Of The Global Petrochemical Industry Its participation included sponsoring the 13th Annual Gulf Petrochemical & Chemical Association (GPCA) Forum

Kuwait and Dubai, 28 November 2018 -- On November 26, 2018, EQUATE Group, a global producer of petrochemicals, sponsored the 13^th annual Gulf Petrochemicals & Chemicals Association (GPCA) Forum, in support of the pioneering role of the Arabian Gulf’s industrial sector. The forum was held in Dubai and lasted for 3 days. A large number of industrial leaders and professionals from across the globe attended the big event. The forum focused on various elements highlighting the transformation of the global petrochemical industry. With the industry’s vital role in energy supply and increasing energy demands, the petrochemical industry is becoming one of the fastest-growing industries in the world. The industry’s success has provided the GCC nations with great economic contributions. EQUATE Group’s vision surely reflects high ambitions to be achieved. EQUATE Senior Vice President Naser Aldousari said, “As a global enterprise, EQUATE launched its 2025 Sustainability Strategy that is linked to the United Nations’ 17 Sustainable Development Goals (SDGS) and the Kuwait National development plan 2035. We firmly believe that sustainability is a key component for growth through creating added value by focusing on the environment, economy and society.” Aldousari assured that EQUATE plays a big role in the industry’s transformation process. “EQUATE’s contribution to this transformation is clear through our recent launch of Viridis 25 that represents a breakthrough technology by providing a new food-grade polyethylene terephthalate (PET) using up to 25% chemically recycled PET bottles as feedstock, which is the highest ratio achieved so far worldwide.” He added, “As the first Middle East-headquartered enterprise to benefit from US-based shale gas sources, our ethylene glycol (EG) plant on the US Gulf Coast is scheduled to begin production during the fourth quarter of 2019 with a total capacity of 750,000 tons annually.” It’s worth highlighting that EQUATE took its participation plan even further this time by sponsoring a professor along with a number of students from the College of Engineering & Petroleum at Kuwait University to have the opportunity to attend the forum and add to their experiences through interacting with other delegates. The initiative is part of a Memorandum of Understanding (MOU) that was signed with the university for partnership and collaboration in industrial and academic fields. The 13th Annual GPCA Forum is held in Dubai, UAE, during November 26 to 28, 2018. The forum gathers over 2,000 top executives from petrochemical and chemical companies as well as government bodies and other entities from around the globe to discuss various topics. www.gpcaforum.net The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information. With EQUATE as one of its founding members, the Gulf Petrochemicals and Chemicals Association (GPCA) represents the downstream hydrocarbon industry in the Arabian Gulf. Established in 2006, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95% of chemical output in the Arabian Gulf region. The industry makes up the second largest manufacturing sector in the region, producing over USD 108 billion worth of products a year. www.gpca.org.ae. For inquiries: Ali Al-Hamad alhamaay@equate.com +965 97228611 Diana Kaadan dkaadan@impactecho.com +965 95553867 View related images

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MEGlobal Canada invests $2 million in MEGlobal Athletic Park Expansion

EQUATE Plays A Key Role In The Transformation Of The Global Petrochemical Industry Its participation included sponsoring the 13th Annual Gulf Petrochemical & Chemical Association (GPCA) Forum

MEGlobal Shanghai Office Opening

Celebrating EQUATE's ISO Laboratory Accreditation - A Milestone in Excellence.

EQUATE Group partners with Omniya Project Management Company to drive sustainable development in Kuwait