LyondellBasell Postpones Restart of Berre, France Cracker until Next Year

HOUSTON and BERRE,France,Sept. 29,2022 -- LyondellBasell (NYSE: LYB) today announced the ethylene cracker at its integrated olefins and polyolefins production site in Berre,France will not restart until early 2023.

The chemical company's French ethylene cracker was damaged by a fire on August 2. While repairs should be completed by November,the combination of persistently high energy costs,compressing margins and falling demand for products in the region contributed to the decision to delay the restart.

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The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including,but not limited to,market conditions,the business cyclicality of the chemical and polymers industries; the availability,cost and price volatility of raw materials and utilities,particularly the cost of oil,natural gas,and associated natural gas liquids; competitive product and pricing pressures; labor conditions; and risks and uncertainties posed by international operations,including foreign currency fluctuations. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31,2021,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. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change,except as required by law. This release contains time sensitive information that is accurate only as of the date hereof.