Saudi Basic Industries Corp. — Earnings Release 2010

Feb 23, 2011

SABIC announces the audited consolidated financial results for the year ended 31/12/2010

2010 · 23/02/2011 15:46:22 · Announcement #20498 · View on Saudi Exchange

SABIC announces the audited consolidated financial results for the year ended 31/12/2010

Saud Basic Industries Corporation (SABIC) has announced the audited consolidated financial results for the year ended 31/12/2010:

1. Net Income of SAR (21.53) billion compared to Net Income of SAR (9.07) billion for the previous year representing an increase of 137%.

2.The earnings per share was SAR (7.18) compared to the earnings per share of SAR (3.03) for the previous year.

3. Gross Profit of SAR (48.55) billion compared to Gross Profit of SAR (28.62) billion for the previous year representing an increase of 70%.

4. Operating Profit of SAR (37.89) billion compared to Operating Profit of SAR (18.80) billion for the previous year representing an increase of 102%.

5.The increase in net income for the year ended December 31, 2010 compared to previous year is attributable to the improvement in sales prices of most of petrochemicals and plastics products as well as improved operating performance resulting in increased production and sales quantities. Certain figures in 2009 financial statements have been reclassified to conform with the current years presentation.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.