SAUDI BASIC INDUSTRIES CORPORATION (SABIC) ANNOUNCES THE COMPLETION OF SAUDI ARAMCO ACQUISITION OF PUBLIC INVESTMENT FUND (PIF) STAKE IN (SABIC) Saudi Basic Industries Corporation (SABIC) announces the completion of Saudi Aramco acquisition of Public Investment Fund (PIF) stake in (SABIC). The parties signed the final agreement on Tuesday 24 Shawwal 1441 corresponding to June 16, 2020. Saudi Aramco becomes a major shareholder in SABIC with ownership of 70% of capital.The transaction will support the realization of the vision of the Kingdom of Saudi Arabia 2030. It will be a key pillar for SABIC to continue as the leader of the petrochemical industry in Saudi Arabia, and reinforcing its strategy to become the world leader in chemicals. It will also strengthen Saudi Aramco's position to become one of the world's largest integrated energy and chemical companies. In addition, it will support the Public Investment Fund to re-invest the significant capital in potential new sectors that will contribute to the long-term diversification of Saudi Arabia's income.

Borealis announces the launch of a new portfolio of circular polyolefin products. Produced with renewable feedstock derived entirely from waste and residue streams, these premium polyolefins offer the same material performance as virgin polyolefins, yet with a reduced carbon footprint. As an important extension of the existing range of value-adding Borealis polyolefins, the Bornewables may be used for any number of applications in all industries. Using these innovative and more circular products will help enable Borealis customers to meet their own sustainability targets while maintaining existing quality standards. Accelerating the move to plastics circularity The introduction of the Bornewables portfolio is another example of the many ways in which Borealis is putting its mind-set to work in developing innovative technologies and products which help accelerate the transition from a linear to a circular economy. Borealis customers can now employ an alternative to conventional fossil fuel-based feedstocks, thus lowering the carbon footprint of their own products without having to compromise on either quality or performance. Because the Bornewables are suitable for the most demanding applications, including hygiene and food-contact, Borealis customers can expand their own product range.While fossil fuel-based feedstocks will continue to be a mainstay of international Borealis polyolefins production operations, significant strides have been made towards the use of more sustainable feedstocks in large-scale commercial manufacture. In March of this year, for example, Borealis began producing polypropylene based on renewably-sourced feedstocks, such as Neste-produced renewable propane, at its Belgian facilities in Kallo and Beringen.Unlike renewable feedstocks produced with agricultural crops grown for food and livestock feed, the Bornewables are made of renewably-sourced feedstocks derived solely from waste and residue streams: from vegetable oil production as well as oil waste and residues; the timber industry; the food industry – for instance, used cooking oil. From a sustainability perspective, re-using waste to manufacture renewable feedstocks further enhances the Bornewables appeal.The entire Bornewables portfolio has been (International Sustainability & Carbon Certification) certified. This certification system ensures the traceability of the renewable, sustainably produced feedstock from its point of origin through the entire chain of custody.“In the spirit of EverMinds, we continue to offer customer high performance solutions while enabling them to realise their sustainability goals,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation and Circular Economy Solutions. “Everyone benefits from products with a lower carbon footprint and reduced dependency on fossil fuel-based feedstocks. This is how Borealis is reinventing for more sustainable living – because life demands progress.”