Corporate Presentation

1st Quarter 2020

This presentation contains, or may be deemed to contain, “forward-looking statements”. By their

nature, forward looking statements involve risks and uncertainties because they relate to events

and depend on circumstances that may or may not occur in the future. The future results of Alpek,

S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or implied by the

forward-looking statements set out herein, possibly to a material degree.

Disclaimer

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

3

Alpek is the largest component of ALFA’s portfolio Alfa posted US$17.5B in Revenues & US$2.3B in EBITDA1

4

8 out of 10

Mexican Corporates use

Axtel’s IT and Telecom

services

11 Sigma brands

sell more than

US$100M a year each

1 out every 4 new cars

sold in the world contains

at least one Nemak

product

728 production wells

operated by Newpek

in U.S. and Mexico

Petrochemicals Food Products Aluminum Auto Parts IT + Telecom Oil & Gas

82%

18%

100%

75%

25% 53%

28%

19%

100%

Alfa Publicly traded

EBITDA1

(% Alfa)31% 27% 12% -37%

#1 in the production of

PTA, PET and EPS

in the Americas

Petrochemicals

82%

18%

Other Privately Held

(1) Figures as of December 31, 2019

Source: Alpek

Alpek is one of the largest PetChems in The AmericasStrong portfolio of products across two main segments

5

Polyester (76% Sales)2 Plastics & Chemicals (23% Sales)2

Revenues1:Comparable

EBITDA1:

Net Debt /

Adjusted EBITDA1:US$6.2B US$722M 1.6x

PTA, PET

& rPET

Polyester

Fibers

Polypropylene

(PP)

Expandible

Polystyrene (EPS)

Caprolactam

(CPL)

Specialty Chemicals

& Fertilizers

(1) Figures for the year ended December 31, 2019;

(2) Sales revenue for the year ended December 31, 2019; additional 1% represented by other small business

Source: Alpek

Our footprint spans 28 plants across 7 countries Over 7 million tons and more than 6,000 employees worldwide

6

Installed capacity breakdown (kta)

Site PTA PET rPET Fibers PP EPS CPL Other

Mexico

(3,030 Kta)

A Monterrey 160

B Altamira 1,000 640 240

C Salamanca 85

D Ocotlán 10

E Cosoleacaque 610 185

F Lerma 100

USA

(2,385 Kta)

G Fayetteville, NC 170 55

H Charleston, SC 170 150

I Columbia, SC 640 725

J Bay St. Louis, MI 430

K Richmond, IN 45

Canada

(144 Kta)L Montreal 144

Argentina

(225 Kta)

M Zárate 190

N Pacheco 15

O General Lagos 19

Brazil

(1,226 Kta)

P Guaratingueta 46

Q Ipojuca 640 450 90

Chile

(27 Kta)

R Santiago 5

S Puerto Montt 2

T Concon 20

United Kingdom

(350 Kta)U Wilton 350

Total Capacity: 7,386 Kta 2,890 2,814 115 400 640 325 85 117

Polyester

P&C

6Kta: Thousand tons per year

Source: Alpek estimates

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

7

Investment Highlights

State-of-the-art technology resulting in low-cost position

Portfolio uniquely placed to lead growth of circular economy

Market leadership across all our products in the Americas

Consumer-oriented product portfolio limiting demand volatility

Proven track record of growth across all parts of the cycle

Clear strategy & catalysts executed by experienced management team

1

2

6

3

5

4

Alpek holds leading industry positions for all its products

9

Polyester Industry Positon1 by Product

(1) Industry position is based on installed capacity and reflects market position as of December 31, 2019. (2) Polyester Staple Fiber (excluding filaments)

Source: PCI and Alpek estimates

PP

EPS

CPL

1

1

1

Mexico

The Americas

Mexico

PTA

rPET

PET

PSF2

1

1

1

2

The Americas

The Americas

The Americas

The Americas

2 Worldwide

P&C Industry Positon1 by Product

1. Market Leadership1

Alpek is the largest PTA-PET producer in AmericasMarket has consolidated & become increasingly organized over time

10Kta: Thousands tons per year

Source: Wood Mackenzie

Kta

The Americas PTA Capacity Share (%) The Americas PET Capacity Share (%)

Kta

1. Market Leadership1

(1) Includes CC Polymers

Source: Alpek & Wood Mackenzie

36%

24%

7,240

2015

27%

2025E1

23%

14%

49%

24%

2020

46%

25%

19%

9%6,190

Indorama

BP

Others

5,940

6%

5,681

27%

16%

34%

5,494

32%

24%

43%

2015

10%

33%

8%

2020

42%

11%

8%

7%

2025E1

Indorama

FENC

M&G

6,781

Others

Food & Beverage 55%

Construction 4%

Consumer Goods 35%

Textiles 7% EUR 3%

SA 24%

USA/CAN 44%

MEX 29%

ME 0%Asia 0%

Resilient end-markets account for 89% of volume97% of Alpek’s sales are dollar-based

11

Beverage Food Personal Care Textiles

Volume 2019

4,384 Kta

Sales 2019

US$6,216 M

89%

Volume by Industry 20191 Sales Geography 20191

Sample End Users by Industry

71%

1. Consumer Oriented Portfolio2

(1) Volume and sales breakdown for data for the year ended December 31, 2019.

Kta: Thousand tons per year

Source: Alpek

Alpek has grown at 8.8% CAGR since 1986Constant growth at different points of the industry cycle

12

´86 ´93 ´98 ´03 ´08 ´13 ´18 ´19 ´25

Acquisition

of first PTA

plant

PP plant

start-up (JV)

CPL plant

acquisition

First U.S.

polyester

plant

acquisition

EPS

capacity

expansion

(JV)

First

recycling

plant (JV)

First power

cogeneration

plant

IPO (BMV)U.S. PTA/

PET plant

acquisitions

Polyester

acquisition

in Brazil

DMT

Expansion

rPET

Acquisition

in USA

Corpus Christi

Polymers (JV)

Sales volume 1986-2018 (Index: 1986 = 100)PET

acquisition

in UK

1. Proven Growth3

Source: Alpek

Oxidation

Post-Oxidation

CTA Storage

Filtration and

Drying

Feed prep

Hydrogenation

Crystallization Crystallization

PTA Storage

Polymerization

Precursor

Storage

Esterification

Pre-Poly

Annealing

Crystallization

PET Resin

Pelletization

Precursor

Preheating

Filtration and

Drying

State-of-the-art tech, strategically located assets & low-cost logistics

yield low cost position in industry

13

Steps eliminated with

IntegRex ®

Marg

in

Cost

80% of Market

Participants

Continuous investment in own technology has

improved Alpek’s cost position (i.e. IntegRex)

World scale production facilities make Alpek the

low-cost producer in The Americas (i.e. PP)

Solid State

Polymerization

1. Low Cost Position4

Source: Alpek, Philip Townsend

Long-term strategy is based around 3 key pillars

Foster

Circular

Economy

Strengthen Core

Business

Strategic

& Focused

Growth

14

1. Strategy & Mgmt. Team5

Each pillar includes set of concrete growth catalysts

• Global Cost Improvement

• Value-added Products

• FCF Generation

• Footprint Optimization

• Value Chain Integration

• Product Innovation

• Maximize CCP Value

• rPET Leadership

• Recycling Promotion

• Sustainable Product Portfolio

Growth Catalysts Details / Description

• Zero Based Budgeting & process innovation (Mainly Operations, Logistics & SG&A)

• Shift to products with higher margins & barriers to entry (Copolymers, Grey EPS)

• Reductions to CAPEX & NWC / Recover M&G Mexico debt

• Ensure global production is performed in optimal sites & logistic networks

• Grow capacity selectively & integrate into value chain (Px, Mexico EPS)

• New products & business lines (Biovento, Natural Gas Commercialization, CO2, PLA)

• Optimize project timing & minimize CAPEX

• Lead rPET supply in Americas through capital-effective investment

• Secure PET Bale & Flake supply / Equip vPET plants with single-pellet technology

• Active lobbying for circular economy via associations & The Recycling Partnership

• Develop sustainable alternatives for all our products (Biodegradable EPS & PP, etc.)

Strengthen

Core

Business

Strategic &

Focused

Growth

Foster

Circular

Economy

15

1. Strategy & Mgmt. Team5

Mgmt. with 30+ years average experience in PetChemClear strategy & culture of empowerment ensure efficient operations

16

Plastics & Chemicals

José Carlos PonsCFO (24)

José de Jesús ValdezCEO (44)

Felipe GarzaCo-President

Alpek Polyester (43)

Jorge YoungCo-President

Alpek Polyester (30)

Gustavo TalancónPresident

Polyester Filament (31)

Alejandro LloveraPresident

Polypropylene (35)

José Luis ZepedaPresident

EPS & Chemicals (34)

Gustavo TalancónPresident CPL &

Ammonium Sulfate (31)

Polyester

#) Years with Alfa/Alpek

Source: Alpek

1. Strategy & Mgmt. Team5

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

17

The Case for PET

Everything you should know

Plastics have been in the news a lot lately…

19

Indexed Google Searches (2009-2020)

100

367

111009 1712 14 1513 16 18 19

PlasticWaste

20

…But not all plastics are the samePET is 100% recyclable, recycled at high rates & can be remade back to its original use

20

Polyethylene

Terephthalate

High Density

PolyethylenePolyvinyl Chloride

Low Density

PolyethylenePolypropylene Polystyrene

Others

(PC, et al.)Plastic

100%Recyclable &

Recycled?

Back to Original

Purpose?

PET HDPE PVC LDPE PP PS

FullyOnly

Non-Dyed

Non-

ApplicableEmerging Emerging

Non-

Applicable

✓ ✓ ✓ ✓

Emerging

✓

Polyethylene terephthalate (pol·y·eth·yl·ene·ter·eph·thal·ate)

Commonly known as PET or PETE and identified by

Mainly used to bottle water & carbonated beverages worldwide

Extremely versatile and used for many other consumer goods too

Safe for consumption. Always.

Making the world better since 1973

Hey there, I’m PET, I think we’ve met…

BPA

FREE

PHTHALATE

FREE

21

PET isnumber .

for a reason

22

PET is the best option because of its traits…

23

11g.1.0x

283g.25.7x

15g.1.4x

1.5¢1.0x

6.5¢4.3x

3.1¢2.1x

Shatter

Resistant

Note: All figures per 355ml bottle

Source: International Monetary Fund, CCFGroup, Bloomberg, SBAcci

Convenient &

Resealable

Costs +50%

Less

Uses 25%

Less Material

…making it the most widely usedbeverage packaging material

2424

04 1606 0705 11 1708 181203 1301 14 1500 1009 1902

98

Aluminum-0.2%

Glass+0.4%

37

34

PET+6.3%

116

37

94

USA Beverage Packaging Industry Units by Substrate (B Units)

Source: SBAcci

PET’s carbon footprintis 60-80% lower than

glass or aluminum

Source: Franklin Associates

Carbon Footprint Over Lifecycle(lbs. CO2 Eq. / 100k oz.)

4.3x2.5x

1,125

2,766

4,848

GlassPET Aluminum

1.0x

Photo: Aluminum making process Photo: Glass making process

1,200oF 2,800oF

27

We havea plastic

waste problem

28Source: Reuters, USA Today

“Coca-Cola chooses plastic bottle collection over aluminum cans to cut carbon footprint”Alexis Akwagyiram

Coca-Cola is committed to collecting and recycling plastic bottles rather than switching to aluminum cans as the world’s largest soft drinks maker seeks to reduce its carbon footprint, said James Quincy, its chief executive officer to Reuters.

“Coke, Dr Pepper, Pepsi execs: We are committed to reducing plastic waste”Jim Dinkins, Derek Hopkins and Kirk Tanner

Recently, we launched an industrywide effort with the country’s leading advocates for conservation and recycling to reduce our need for new plastic by working to collect, recycle and remake plastic bottles from the plastic bottles we already produce.

Our bottles are already designed to be 100% recyclableso they can be remade into new bottles. The plastic we use in our bottles is used to make a variety of consumer products and is in high demand across many industries. All of us are eager to get the plastic back through improved recycling. When recycled appropriately, our bottles can be made into new bottles.

Industry leaders agree the solution lies with further increasing PET recycling rates, not imposing bans

PET already highly recycled on a worldwide basisUSA with largest potential in NA to increase recycling rates

29

PET Recycling

Rate (%)…

58

16

69

46

30

65

98

PET

Worldwide

PET

USA

Other Plastics Aluminum

USA

Glass

USA

PET

Mexico

PET

Germany

Very different from

other plastics…

On par with other beverage

package alternatives…

…and with potential to continue

growing under right incentives

Source: Wood Mackenzie, Ball Corporation, Aluminum.org

Everyone must play a part in order to incentivize recycling and ensure a circular PET usage loop

30

Waste Mgmt.

Producers Consumers

Bottlers

• Consume responsibly

• Recycle everything

• Separate trash properly

• Increase rPET production

• Meet bottlers’ needs

• Improve rPET technology

• Grow gathering network

• Improve PET separation

• Improve bale quality

• Use higher rPET (%) content

• Design for higher recyclability

• Willingness to source rPET

Government• Promote recycling

• Promote use of

lower CO2 products

Alpek is leading the way towards fosteringa fully circular PET economy

31

Alpek already recycling

5 Billionbottles each year

Active member of to

strengthen USA recycling efforts

55

70

115

2010 2014 2019KTon

Among largest rPET

producers in The Americas

Fayetteville, NC

USA

Gral. Pacheco, BA,

Argentina

Richmond, IN,

USA

32

So, what else canwe do personally?

Share this information

Reduce, reuse & recycle

Separate waste properly

3R

1. PET is an unrivaled product for CPG packaging

▪ 100% recyclable and already 58% recycled worldwide

▪ Only plastic that can be 100% recycled to its same use

▪ 50% cheaper & 25% lighter than glass & aluminum

▪ Resealable, hygienic & shatter-resistant packaging option

2. PET is the best option for the environment

▪ 60-80% lower carbon footprint than glass & aluminum

3. Focus on promoting a truly circular economy for PET

▪ Promote increase rPET content instead of generalized bans

▪ Grow recycling infrastructure to increase PET bale availability

▪ Focus on improving recycling scale, cost-efficiency & education

Need to get the word out to gain momentum, ensure alignment, and make sure decisions are made using the full set of facts

The Case for PET (in short)

33

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

34

669

843662

517

220

188

20182016 2017 2019 2020 YTD 2020G

384

1,063

850

111

547

Results & Guidance

35

Sales Volume (K Ton) Revenues (US$ M)

Reported EBITDA (US$ M) CAPEX (US$ M)

4,6524,402

2020G2016 2017

Polyester

2020 YTD2018 2019

P&C

3,938 4,0124,384

1,184

5,677

2016 2017

P&C

2020 YTD20192018 2020G

Polyester

4,8385,231

6,991

6,216

1,433

270

15

277

2017

826

2016

345

2018 2019 2020 YTD 2020G

236

Suape/

Citepe &

CCP

Business

Combination

Cogen.

Sale

% Sales 13.8% 13.7%7.3% 15.2% 9.6%7.7%

Comparable

Business

Combination

EBITDA BreakdownBoth Polyester and P&C exceeded Comparable 1Q EBITDA Guidance1 (exc. RMCF)

36(1) Not applicable for the rest of the year

(2) Raw Material Carry-Forward

40

20

10

50

20

50

17

49

1

P&C

94

RMCF2

74

1Q20 Comparable Inventory

Adjustment

58

1Q20 Reported

116

1Q20G

P&C

Polyester 74

147

Polyester

127

111

1Q20 Comparable

(w. RMCF)1

Others

Others

+26%

Alpek 1Q20 EBITDA vs. Guidance1 (US$M)

LeverageAlpek maintains low leverage despite payment of dividend from Cogen sale

37

Net Debt (US$M) LTM EBITDA (US$M) Net Debt/EBITDA (Times)

1,022

944

864 850821

1Q202Q191Q19 3Q19 4Q19

2.22.2

2.4

1.6

1.7

1Q19 1Q202Q19 3Q19 4Q19

2,2002,084

2,036

1,3301,436

1Q201Q19 4Q192Q19 3Q19

Balance Sheet Accounts

38

Net Working Capital1 (US$ M) Property, Plant and Equipment (US$ M)

Net Debt2 (US$ M) Stockholders’ Equity (US$ M)

694

497

951

774

634

2016 2017 20202018 2019

534353 44NWC Days

1,9552,105

2,390

1,968 1,876

2019 20202016 2017 2018

1,042

1,262

1,832

20192016 2017 20202018

1,3301,436

2,019

1,604

2,1932,391

1,847

202020192016 2017 2018

IFRS

(1) Net Working Capital = Accounts receivable + Other accounts receivable + Inventories - Suppliers - Other accounts payable and accrued expenses

(2) Net Debt = Bank loans and notes payable + Current portion of long-term debt + Long term debt – Cash

Source: Alpek estimates

51

Debt Profile99% of Debt denominated in USD1,2 / Debt average life @ 4.3 years

39

Consolidated Debt Profile2 (Mar. 2020)

570

173 169

300

500

650

0

100

200

300

400

500

600

700

800

900

2023 20252024Cash

US$M

20222020 2021 2026 2027 2028 2029

675

Cash

Bonds

Bank Debt

Net Debt: Gross Debt:Available Comm.

Credit LinesUS$1,436M US$2.006B US$590M

(1) A small portion of debt is denominated in MXN, EUR and ARS

(2) Excludes leases, documents and accrued interests

Coupon

4.250%

Coupon

4.500%

Coupon

5.375%

Dividends to Shareholders

40

(1) Paid in January 2020

100114

95111

143 143 1432.1

3.03.4 3.4

5.95.95.6

50

0 -1

100

150

3

0

1

2

4

5

6

201620152013 20141 2017

4.72

2018 2019

(US

$ M

)

Dividend Yield (%)

(1) Paid in December 2013

(2) Showing US$143M Dividend in 2018 (Paid in 2020)

239274

369

140161

194

356

111

4Q2Q 3Q 1Q

Business

Comb.

Results by Quarter

41

Sales Volume (K Ton) Revenues (US$ M)

Reported EBITDA (US$ M) Majority Net Income (US$ M)

1,151 1,1741,061 1,0871,121 1,118

1,0591,184

1Q2Q 3Q 4Q

1,7591,941

1,7581,6421,643

1,5231,407 1,433

4Q2Q 3Q 1Q

142

80

393

2756 50

209

-19

2Q 3Q 1Q4Q

2019 2020

Business

Comb.

M&G Recovery

220

136

2018 Comparable

220 188Cogen

Sale

Source: Alpek

Comparable EBITDA

42

(1) EBITDA includes profits (US $5 M) from other activities such as natural gas sales

Reported EBITDA2015 2016 2017 2018 2019 1Q20 1Q19

(US$ M)

Polyester 344 349 147 788 428 58 80

Plastics & Chemicals 284 322 237 276 218 49 54

Cogeneration Plant’s Sale - - - - 188

TOTAL 630 669 384 1,063 850 111 140

Adjustments*2015 2016 2017 2018 2019 1Q20 1Q19

(US$ M)

Polyester (35) 18 (87) 258 (47) (16) (4)

Plastics & Chemicals 11 14 8 1 (13) (1) (4)

Cogeneration Plant’s Sale - - - - 188 0

TOTAL (24) 32 (79) 259 128 (17) (8)

*Adjustments: Inventory and non-operating, one-time (gains) losses

Comparable EBITDA2015 2016 2017 2018 2019 1Q20 1Q19

(US$ M)

Polyester 378 331 234 529 474 74 84

Plastics & Chemicals 273 308 229 275 231 50 58

TOTAL 654 637 462 804 722 127 148

43

2020 2019 Delta

US$M 1Q 1Q 4Q 1Q 4Q

Reported EBITDA 111 140 167 (29) (57)

Inventory Adjustment (17) (19) (6) 2 (11)

Others - 11 1 (11) (1)

Comparable EBITDA 127 148 172 (20) (45)

Raw Material Carry-Forward (20) (19) (2) (1) (18)

Comparable EBITDA +

Raw Material Carry-Forward147 167 173 (20) (26)

Raw Material Carry Forward Effect (RMCF1) BreakdownSmaller YoY & QoQ difference in EBITDA when excluding extraordinary effects

(1) Raw Material Carry-Forward: Effect on margin generated from price change to raw materials between purchase vs. actual consumption. Positive or negative depending on price change

(2) Excludes Cogeneration sale

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

44

Relevant Events & Updates

Corpus Christi Polymers (CCP) integrated PTA/PET facility

• Pre-construction period extended through end of 2020

COVID-19

• Alpek products are considered essential as they serve Food / Beverage / CPG packaging & medical supplies

• Operations not affected as Alpek continues serving customer demand

• Guidance withdrawn due to volatility and until reliable estimate can be provided

M&G Mexico PET plant restructuring process

• Normalized M&G Mexico operations continue (supported by Alpek)

• Ruling on “Concurso Mercantil” with pre-arranged restructuring plan expected in 2Q20

Dividend payments

• Paid U.S. $143 million dividend related to Cogeneration sale in January

• U.S. $82 million dividend approved in our Annual Shareholders Meeting

• Subject to review by Board of Directors given COVID-19 environment

45

1

2

3

4

Corpus Christi Polymers extended its pre-construction period

46

Source: Alpek

Highlights CCP capacity share by partner

PTA

1.3 M tons

PET

1.1 M tons

• PET (Int.): 367 Kta

• PTA: 125 Kta

• PET (Int.): 367 Kta

• PTA: 125 Kta

• PET (Int.): 367 Kta

• PTA: 125 KtaPx

MEG

Px

MEG

Px

MEG

Overview

Current

Status

• JV between Alpek, Indorama & Far Eastern (FENC)

• Acquired Corpus Christi PTA/PET assets on Dec. 28,

2018 for US$1.2B (Alpek US$266M in cash and

US$133M non-cash contrib.)

• JV will operate as toll-based manufacturer for Alpek,

Indorama and Far Eastern

• CCP operated by independent management team

• Each partner to procure own RM & sell own PTA/PET

• CCP extended its pre-construction period through the

end of 2020 and reduced CAPEX needs by US$45M

• Alpek still has US$67M in cash credit for additional

CAPEX needs

COVID-19Alpek posted better-than-expected 1Q results amid volatile environment

47

Industry Impact 1Q20 Effects on Alpek Company Reaction

• Lower crude oil demand in Asia

resulted in decreases to Crude Oil

& Paraxylene (Px) prices

• Polyester margins strengthened

vs. 4Q19 as lower PTA/PET output

from Asia reduced supply in 1Q20

• Mexican Peso & Brazilian Real

depreciated during 1Q20

• No adverse effect to Alpek’s

business continuity from COVID-19

• Alpek’s businesses deemed

essential (food & beverage

packaging, CPG, medical supplies &

general chemicals)

• Polyester results favored by

improved volumes and margins

• US$36M non-cash Inventory Loss

and negative Raw Material Carry-

Forward effect

• Temporary effect with potential to

be reverted

• Increased hygiene measures &

home office to protect employees’

health

• Guaranteed PET production for

customers given high demand

• Focus on financial stability as FCF

US$181M better than

expectations

• Cash balance improved by

U$240M by drawing committed

long / short-term credit lines

> >

Volatility surrounding COVID-19 makes it difficult to predict feedstock prices, demand and margins /

2020 Guidance has been withdrawn until Alpek can provide reliable estimates

=

=

+

–

Other Relevant Events

48

• Alpek sold its two Cogeneration plants for US$801M

• Sale finalized on November 25th

• Proceeds used to pay down debt and pay a US$143M dividend

• Alpek companies to keep attractive cost-plus Power & Steam contracts

• First Alpek acquisition outside of the Americas

• Only PET producer in UK, mainly serving domestic demand

• Increasing PET production capacity by 15%

• Improved PTA/PET capacity net balance and reduction to PTA spot sales

• Took over operations as of January 1st, 2020

• Capacity: 45 KTA rPET

• Location: Richmond, Indiana

• Part of Alpek’s strategy to increase presence in rPET segment

• Increased Alpek’s overall PET recycling capacity to 115KTA

UK PET (2020)

CoGen Plants Sale (2019)

Richmond PET (2019)

Alpek at a Glance

Key Investment Highlights

The Case for PET

Financials

Relevant Events

Appendix

Index

49

Polyester Value Chain

50

Ethylene

Crude Oil Refinery Naphtha Reformer/BTX

PX

Ethylene OxideCracker

0.80 ton Ethylene

per ton EO

0.66 ton PX

per ton PTA

MEG

0.72 ton EO

per ton MEG

0.84 ton PTA

per ton PET

0.34 ton MEG

per ton PET

PTA

Fibers &

Filaments

PET rPET

Ethane(From Natural Gas)

Source: Alpek, Nexant

Polypropylene (PP) Value Chain

51

Ethane /

Propane

Source: Alpek, Nexant

Expandable Polystyrene (EPS) Value Chain

52

Ethylene

Crude Oil Refinery Naphtha Reformer

Benzene

StyreneEthane(From Natural Gas)

Cracker

Pentane

EPS

0.29 ton Ethylene

per ton Styrene

0.79 ton Benzene

per ton Styrene

0.94 ton Styrene

per ton EPS

0.06 ton Pentane

per ton EPS

Source: Alpek, Nexant

Caprolactam (CPL) Value Chain

53

Natural Gas

Crude Oil Refinery

Cyclohexane

Naphtha Reformer

Benzene

Ammonia

Caprolactam

Ammonium SulfateSyngas

0.94 ton Bz per

ton Cyclohexane

0.99 ton CX

per ton CPL

Fertilizers

Nylon

Source: Alpek, Nexant

Latest Quarter Results

54(1) Times: Last 12 months

Source: Alpek

Alpek: Selected Financial Information

(%) 1Q20 vs.

1Q20 4Q19 1Q19 4Q19 1Q19

Total Volume (ktons) 1,184 1,059 1,087 12 9

Polyester 967 851 857 14 13

Plastics & Chemicals 217 208 230 4 (6)

Consolidated Revenues 1,433 1,407 1,642 2 (13)

Polyester 1,094 1,075 1,239 2 (12)

Plastics & Chemicals 300 311 376 (4) (20)

Consolidated EBITDA 111 356 140 (69) (21)

Polyester 58 122 80 (52) (27)

Plastics & Chemicals 49 42 54 15 (10)

Cogeneration Plants’ Sale - 188 - (100) -

Profit Attributable to Controlling Interest (19) 209 27 (109) (172)

CAPEX and Acquisitions 15 115 69 (87) (79)

Net Debt 1,436 1,330 2,200 8 (35)

Net Debt / EBITDA(1) 1.7 1.6 2.2

Interest Coverage(1) 7.3 7.2 8.8

Latest Quarter Results

55

Source: Alpek

Alpek: Cash Flow(%) 1Q20 vs.

1Q20 4Q19 1Q19 4Q19 1Q19

EBITDA 111 356 140 (69) (21)

Net Working Capital & Others 100 (67) (24) 249 520

Capital Expenditures & Acq. (15) (115) (69) 87 79

Financial Expenses (26) (39) (31) 32 16

Income tax (64) (29) (30) (120) (111)

Dividends (163) (25) (179) (553) 9

Other Sources / Uses (49) 625 (176) (108) 72

Decrease (Increase) in Net Debt (106) 706 (369) (115) 71

(%) 1Q20 vs.

1Q20 4Q19 1Q19 4Q19 1Q19

Consolidated Net Income (16) 218 40 (107) (141)

Non-Controlling Interest 3 8 13 (63) (76)

Controlling Interest (19) 209 27 (109) (172)

Earnings per Share (U.S. Dollars) (0.01) 0.10 0.01 (109) (172)

Avg. Outstanding Shares (Millions)* 2,115 2,116 2,118

Alpek: Net Income

Relevant References: Crude OilPrice reduction from demand reduction & no agreement to reduce output in 1Q20

56

Brent Crude Oil Price

53

44

54

71

64

20

40

60

80

100

120

US$/Bbl

Avg.99

2014 2015 2016 2017 20192018 2020

Source: Bloomberg

Relevant References: ParaxylenePx prices also fell in 1Q20 following their correlation with Crude Oil

57

1,7081,635 1,641

1,382

992876

989924 924

9771,056 1,100

1,258 1,2821,165

1,077955 937

876

0

500

1,000

1,500

2,000

1Q 3Q2013

US$/Ton

201620122011 2014 2015 2Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2017 2018 2019

NA Px Contract Price

US$165/ton

decrease from

Dec.’19 to Mar.’20

2020

Source: IHS

Relevant References: Integrated PET MarginsMargins have already risen above Guidance levels in low-demand quarter

58

200

74 69 69 62 64 60 72 80 81 104133 135 117 110

155 14082 78

193

174 186 208165 159 180

204 184 202

238

346

242

215 214

214

164

145196

0

100

200

300

400

500

600

277

2012

227

2Q

US$/Ton

PET

20142011 2Q1Q2013 2015 2016

393

3Q

263

4Q 1Q

333

3Q 3Q4Q

304276

1Q 2Q 4Q 1Q

370

PTA

342

248 255227 223

240

284

478

275

377

324

China

2017 2018 2019

Asian Margins (Px / MEG to PET)

2020

Guidance

255

Source: ICIS, PCI, CCFGroup

59

NA Propylene Contract Price (PGP) NA Polypropylene Margin (PP to PGP)

12 1213

15

24

27

19

22 22 2221

20

15

0

2

4

6

8

10

12

14

16

18

20

22

24

26

28

1Q171411

cpp

161512 13 18 1Q2Q 3Q 4Q

76

60

6971

39

34

45

54

38 37 3835

31

0

10

20

30

40

50

60

70

80

1413

cpp

11 1512 16 17 18 1Q 2Q 3Q 4Q 1Q

2019 2020 2019 2020

Relevant References: Propylene & PolypropyleneDecrease in both PGP contract prices & industry PP margins in 1Q20

Alpek able to

maintain

margins in 1Q

Source: IHS

Relevant References: Caprolactam

60

2,100

1,240

1,069

840 862

727

1,216

839934

1,141 1,1371,231 1,272 1,281

1,075976

692 644549

0

300

600

900

1,200

1,500

1,800

2,100

2,400

2015

US$/Ton

20122011 2016 1Q2013 2014 1Q 2Q 2Q3Q 4Q 1Q 3Q 4Q 1Q 2Q 3Q 4Q

2017 2018 2019

Asian Caprolactam to NA Benzene Spread (Contract)

2020

Source: IHS Markit

Stock Highlights (BMV: ALPEK)

61

Daily Average Traded Shares & Value (M Shares)

Daily Stock Price (MXN)

5

2

3

4

2

0

6

0

4

1

F S NJA FJ M A M J JJ O MN D A M JJ A S O D F M

2019

10

0

40

20

30

MayMay JanJan Sep Sep Jan

(M Shares) (US$ M)

2018 2019

Valuation 2017 2018 2019 1Q20

Market Cap. (US$ B) 2,951 2,916 2,307 1,657

Net Debt (US$ M) 1,262 1,832 1,330 1,436

EBITDA LTM (US$ M) 384 1,063 850 821

Enterprise Value /

EBITDA11.6 4.7 4.6 4.1

Price / Earnings N/A 3.8 5.9 5.0

Price per Share (MXN) 26.50 27.30 21.00 15.56

Exchange Rate

(MXN/USD)19.00 19.83 19.26 19.86

2018 2020

2020

Alpek’s Investor Relations Team

62

8 Years at Alfa/Alpek

Previously held roles in Talent and Culture at Alfa and Axtel

BA in International Relations from ITESM

Alejandra

Bustamante

IR Manager

abustamante@alpek.com

24 Years at Alfa/Alpek

Prior to being Alpek CFO, held roles as VP of Business Development and Director of South America

Business at Nemak

BS in Mechanical Engineering from ITESM, MBA from ITESM & Executive Management Program from

IPADE

José Carlos

Pons

CFO

9 Years at Alfa/Alpek

Previously held roles as Director of Logistics & Procurement at Indelpro, Director of Energy Markets at Alfa,

and Project Leader at The Boston Consulting Group

BS in Industrial Engineering from Cornell University and MBA from Stanford Graduate School of Business

Alejandro

Elizondo

IRO

aelizondo@alpek.com

alpek.com