LyondellBasell today announced that it has made the decision to advance engineering to build an advanced recycling plant at its site in Wesseling, Germany. Using LyondellBasell's proprietary MoReTec technology , this commercial-scale advanced recycling plant will convert pre-treated plastic waste into raw material for the production of new plastics. The final investment decision is scheduled for the end of 2023.The previously announced German joint venture Source One Plastics will supply plastic waste to the plant. Source One Plastics plans to build a facility to recycle the amount of plastic packaging waste generated by approximately 1.3 million German citizens per year. This plastic waste will consist of materials such as multi-layered food packaging or mixed plastic containers that are not generally recycled today.

“We are actively working to advance the circular economy. Advancing our MoReTec technology represents another step LyondellBasell is taking to accelerate the development and implementation of scalable sustainable and circular technology,” said Yvonne van der Laan ., LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. “This high-efficiency differential technology will allow us to convert waste plastics into pyrolysis oil and pyrolysis gas that will be used in our crackers as feedstock leading to the production of new plastic materials. Solid residues from the process can be reused or consumed in other applications, making this technology an energy-efficient and waste-free process for plastic waste recycling. »

The start-up of the MoReTec advanced recycling plant is scheduled for the end of 2025, with a capacity of 50,000 tons per year. The raw material produced will be transformed at the LyondellBasell Wesseling site into new Circulen Revive polymers for applications such as food packaging and healthcare products.

MoReTec  - A History of Innovation

In 2018, LyondellBasell began conducting basic research on chemical recycling of plastic waste with the Karlsruhe Institute of Technology (KIT) in Germany, which proved the effectiveness of MoReTec technology at the laboratory scale . In October 2019, the company announced the construction of a chemical recycling pilot plant at its site in Ferrara, Italy, which began operating in August 2020. With the operation of the pilot plant, research work have made it possible to improve the efficiency of the recycling process, to identify a commercial catalyst and to progress in the characterization of the waste stream. The capacity of the MoReTec plantwas expanded by converting the pilot plant into a small-scale industrial facility in 2021.

Today, MoReTec technology makes it possible to recycle most types of plastic materials such as multi-layer food packaging or mixed plastic containers. Polyolefin-based plastic waste is broken down in a proprietary reactor unit, resulting in high-quality raw material that can be used in the production of new plastic materials at LyondellBasell's polymer plants.

About LyondellBasell

As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best-managed, and most valued company in our industry. The company's products, materials and technologies provide sustainable solutions for food security, access to drinking water, health and energy efficiency in more than 100 international markets. LyondellBasell places a high priority on diversity, equity and inclusion and drives things forwardwith a focus on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named one of the "World's Most Admired Companies" by FORTUNE magazine for the fifth consecutive year. For more information, visit www.lyondellbasell.com  or follow @LyondellBasell  on LinkedIn.

FORWARD-LOOKING STATEMENTS

Statements in this release regarding matters that are not historical facts are forward-looking statements. These forward-looking statements are based on assumptions of LyondellBasell's management that are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. Actual results could differ materially depending on factors including, but not limited to, the final investment decision related to the proposed facilities; our ability to complete the described transaction or the timing of such transaction; the successful construction and operation of the facilities described in this release; our ability to obtain all necessary regulatory approvals; our ability to achieve our sustainability goals, including our ability to increase production of recycled and renewable polymers in order to meet our goals and forecasts; and general economic conditions in the geographic regions or markets served by LyondellBasell and its subsidiaries, or in which the operations of the company and its subsidiaries are located. Although these statements and forecasts are made in good faith, LyondellBasell and its management cannot guarantee that the anticipated future results will be achieved. Other factors that could cause actual results to differ materially from those described in the forward-looking statements are set out in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2021,www.LyondellBasell.com  on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov . There can be no assurance that any of the actions, events or results of the forward-looking statements will occur, or, if so, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they are made and are based on the estimates and opinions of LyondellBasell management at the time they are made. LyondellBasell assumes no obligation to update forward-looking statements if circumstances or management's estimates or opinions change,

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