# To the owners of our company

_Source: `DeepSeekOCR_Ardian_pruned_1k/basic-materials-specialty-chemicals/NYSE_LYB_2017/NYSE_LYB_2017.mmd` · pages 2-8_

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To the owners of our company:

As we begin 2018, I write with a sense of pride about all that has been accomplished by our team over the past year and to express real excitement for our company's future.

In so many ways, 2017 was a remarkable year for LyondellBasell. On Dec. 20, we proudly celebrated the 10-year anniversary of the merger of Basell AF S.C.A. and Lyondell Chemical Company, a transaction that created one of the largest plastics, chemicals and refining companies in the world. Despite having to navigate some choppy waters early on in our history, we emerged from that period as a better, stronger and more efficient organization. Our continued focus is on being the best

To the owners of our company:

operated, most valued company in our industry not just today, but in the future. Today, building on this strong foundation, we maintain a clear vision of where we want to be decades from now.

In 2017, guided by our global values of excellence, ownership and teamwork, our company generated $4.9 billion in income from continuing operations, EBITDA of $7.1 billion and $12.28 diluted earnings per share. In addition, last May we increased our quarterly dividend to $0.90 per share, the ninth dividend increase since 2011, placing LyondellBasell in the top 15 percent for dividend yield among the S&P 500. Over the past five years our shareholders have seen a total return of 129 percent, exceeding the 87 percent delivered by the S&P 500.

In addition to a relentless focus on safety, reliability and cost at our existing assets, we advanced our growth plan to further position the company to capitalize on feedstock advantages and emerging global trends in population growth, transportation and sustainability.

To this end:

In May, we broke ground on our industry-leading Hyperzone high density polyethylene (HDPE) plant in La Porte, Texas. We are very excited to introduce this innovative technology that can be used to produce a wide range of products, including large and small part blow molded goods, HDPE film and pressure pipe. The Hyperzone
In November, we announced our participation in a 50 / 50 joint venture called Quality Circular Polymers (QCP), a plastics recycling business in the Netherlands with SUEZ S.A., a French company specializing in water and waste management. This acquisition expands our product portfolio into recycled materials.

Beyond these current projects, we continue to develop a robust pipeline of growth opportunities that will create additional value for our shareholders. To accomplish this objective, we are investing in our in-house project planning and execution capabilities, as well as our corporate development capabilities. in place to deliver strong performance for our stakeholders. Although no one can predict exactly what will happen, I can say with certainty that we enter this period from a position of strength. We have a terrific set of assets, a strong balance sheet, a thoughtful approach to long-term growth, enhanced capabilities and a seasoned team that has operated successfully through past cycles. In short, we are focused and ready for whatever lies ahead.

Our 2017 performance underscores that we are a company with a very strong foundation, a deliberate, consistent and thoughtful approach to our strategy, a culture of excellence and an outstanding

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New York
Stock Exchange
Opening Bell
New York, NY, USA
April 5, 2017

HDPE technology is a collaborative innovation from our global research and development teams in Ferrara, Italy; Frankfurt, Germany; Cincinnati, Ohio; and Houston, Texas. We expect this plant to come online in 2019.

In July, we announced the final investment decision for the world's largest propylene oxide (PO) and tertiary butyl alcohol (TBA) plant in Channelview, Texas. This is the largest facility of its kind and we expect to begin operations in 2021.

In September, we began operations at our new polypropylene compounding facility in Dalian, China. Our Dalian plant is our third polypropylene compounding site in China and is strategically located to serve the rapidly growing automotive industry in the region.
In the midst of this activity, Hurricane Harvey made landfall on the U.S. Gulf Coast in late August. The unprecedented flooding from the hurricane caused disruption to businesses and the displacement of thousands of people. Throughout this challenging situation, our local team of more than 5,000 people remained focused on the safety of our colleagues, plants and communities. Universally, our team demonstrated acts of heroism and professionalism that allowed us to effectively weather the storm and restart operations quickly and safely while supporting recovery within our communities. I believe this resilience and flexibility is truly a hallmark of our dedicated team.

As we look to 2018 and what could be a more challenging market environment, I firmly believe we have the right strategy team. Together, we remain focused on activities that will continue to create differential shareholder value.

It is an honor to lead this great team that continues to accomplish so much. I hope you're as proud of our company as I am.

Most sincerely,

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Bhavesh V. (Bob) Patel
Chief Executive Officer