LyondellBasell Successfully Starts Up New Pilot Molecular Recycling Facility

Company completes next step towards an industrial scale conversion of plastic waste into feedstock

ROTTERDAM,Netherlands,Sept. 8,2020 -- LyondellBasell (NYSE: LYB),one of the largest plastics,chemicals and refining companies in the world,today announced the successful start-up of its MoReTec molecular recycling facility at its Ferrara,Italy,site. LyondellBasell's proprietary MoReTec advanced recycling technology aims to return post-consumer plastic waste to its molecular form for use as a feedstock for new plastic materials.

LyondellBasell successfully starts up its MoReTec molecular recycling facility at its Ferrara,site. The pilot plant completes the company's next step towards an industrial scale conversion of plastic waste into feedstock.

"Ending plastic waste in the environment and advancing the circular economy are key sustainability focus areas for our company," said Jim Seward,LyondellBasell Senior Vice President of Research & Development (R&D),Technology and Sustainability. "With our advanced plastics recycling technology,we return larger volumes of plastic waste back into the value chain and produce new materials for high-quality applications,retaining their value for as long as possible."

The new plastic materials created by LyondellBasell's MoReTec technology can be used in food packaging and healthcare items,which must meet strict regulatory requirements.

Leveraging our global technology footprint

LyondellBasell conducts base research to lead the polymers industry toward advanced plastics recycling. In July 2018,LyondellBasell announced a collaborative effort with Germany's Karlsruhe Institute of Technology (KIT) to advance its molecular recycling efforts. This collaboration proved the efficiency of the MoReTec technology at laboratory scale and,in October 2019 the company announced the construction of the Ferrara pilot plant. Today,the company's research and development teams in Germany,Italy and United States are actively working to explore potential commercial-scale applications.

The pilot plant is capable of processing between 5 and 10 kilograms (kg) of household plastic waste per hour and builds on our research to date. The pilot aims to understand the interaction of various waste types in the molecular recycling process,test the various catalysts,and confirm the process temperature and time needed to decompose the plastic waste into molecules. The goal is to have this completed over the next couple of years and then plan for an industrial scale unit.

The development of MoReTec technology is part of LyondellBasell's commitment to plastics-to-plastics conversion. The technology development compliments the company's other circular solutions,which help reduce plastic waste and advance the circular economy,including:

Developing new business models for mechanical recycling: In March 2018,LyondellBasell took 50% ownership of Quality Circular Polymers (QCP),a joint-venture with SUEZ. QCP uses a mechanical recycling process to produce premium plastic pellets from packaging waste for use in applications ranging from electrical appliances,washing detergent bottles and suitcases. The materials,marketed by LyondellBasell,can currently be found for example in Samsonite's S'Cure ECO luggage collection.

Use of renewable feedstocks for plastics production: In April 2019,LyondellBasell produced plastics using renewable raw materials such as cooking and vegetable oil waste,for use in food packaging,toys,and furniture. These products,marketed under the Circulen and Circulen plus brands,meet all regulatory requirements for purity and offer the same high-quality properties as virgin plastics.

About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the largest plastics,chemicals and refining companies in the world. Driven by its employees around the globe,LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging,protecting the purity of water supplies through stronger and more versatile pipes,improving the safety,comfort and fuel efficiency of many of the cars and trucks on the road,and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2020,LyondellBasell was named to Fortune magazine's list of the "World's Most Admired Companies" for the third consecutive year. More information about LyondellBasell can be found at www.LyondellBasell.com.

Cautionary statement

The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including,but not limited to,our ability to develop sustainable solutions for plastic waste,successful operation of the pilot plant described,and our ability to develop commercial-scale applications. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" sections of our Form 10-K for the year ended December 31,2019,and our Form 10-Q for the quarter ended March 31,2020,which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.

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