Investor Presentation

Investor PresentationMay 2010

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Disclaimer and Notice

The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made, and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, the ability to comply with the terms of our credit facilities and other financing arrangements; the costs and availability of financing; the ability to maintain adequate liquidity; the ability to implement business strategies; availability, cost and price volatility of raw materials and utilities; supply/demand balances; industry production capacities and operating rates; uncertainties associated with the U.S. and worldwide economies; legal, tax and environmental proceedings; cyclical nature of thechemical and refining industries; operating interruptions; current and potential governmental regulatory actions; terrorist acts; international political unrest; competitive products and pricing; technological developments; risks of doing business outside ofthe U.S.; access to capital markets; and other risk factors. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in our financial reports, which are available at www.lyondellbasell.com on the Investor Relations page.

This presentation makes reference to certain non-GAAP financial measures, including EBITDAR. A “non-GAAP financial measure” is a financial measure that is derived on the basis of methodologies other than in accordance with U.S. GAAP. Management believes these non-GAAP financial measures provide useful supplemental information to investors regarding the underlying business trends and performance of the company's ongoing operations and are useful for period-over-period comparisons of such operations. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP.

EBITDAR should not be considered as an alternative to profit or operating profit for any period as an indicator of our performance, or as an alternative to operating cash flows as a measure of our liquidity. While we believe that EBITDAR is a measure commonly used by investors, EBITDAR, as presented herein, may not be comparable to a similarly titled measure reported by other companies due to differences in the way the measure is calculated. For purposes of this presentation, EBITDAR means earnings before interest, taxes, depreciation, amortization and restructuring costs. Our financial statements utilize a combination of First-In, First-Out and Last-In, First-Out inventory methods. As supplemental segment information, EBITDAR figures are prepared on a current cost basis unless otherwise stated.

This presentation contains time sensitive information that is accurate only as of the time hereof. We undertake no obligation toupdate the information presented herein except to the extent required by law.

3| www.lyondellbasell.com |

I Company Overview

II Financials

IV

Business Segment Overview- Refining & Oxyfuels- Olefins & Polyolefins - Americas- Olefins & Polyolefins - Europe, Asia and International- Intermediates & Derivatives- Technology

Agenda

III

Product Position and Capacity


Key Investment Highlights

Reduced Legacy Liabilities

• Legal and environmental liabilities largely expunged during Chapter 11

Significantly Expanded Cost Savings Program

• Approximately $1B in fixed cost reductions since 2008

Global Scale & Diversity as World’s 3rd Largest Independent Chemical Company

• $31 B of revenues• 59 Plants in 18 Countries• Differentiated portfolio provides steady earnings base • Significant cyclical upside• Participation in high growth, low cost markets through

JV relationships

Market Leadership and Strong Asset Base with Cyclical Upside Potential

• #1 in Polypropylene, Oxyfuels and Polyolefin Licensing

• #2 in Propylene Oxide, #3 in Polyethylene and #4 in Ethylene and Propylene

Emergence as a Public Company

• Goal to be NYSE listed public company by third quarter if not sooner

• $15.2B enterprise value per midpoint of Plan of Reorganization valuation

• Potential equity holders: ~375 pre-petition first lien debt holders

New Balanced Capital Structure

• $5.2B net debt

• 34% Net Debt, 66% Equity

• Approximately $3 B of liquidity

• Improved Balance Sheet

• Proven management team with past merger integration experience

• Detailed management plans for improvement

New Management Team & Strategy


O&P Americas

O&PEAI

TechnologyI&D

Refining & Oxyfuels

O&P Americas

O&PEAI

I&D

TechnologyOther Refining &

Oxyfuels

2009 Sales

2009 EBITDAR

$ 30,828 MM

LIFO / FIFO: $ 2,266 MM 2

Supplemental Current Cost: $ 2,236 MM 2, 3

1 Only in Europe, Asia and International2 Includes JV dividends and insurance proceeds3 Consolidated operating results are determined using the FIFO method of accounting to determine inventory cost except for certain US inventories

which are determined on the LIFO method. For purposes of evaluating segment results, management review operating results determined using current cost.

Our Broad Product Lines And The End Markets We Serve, Combined With Our Size…

Olefins & Polyolefins- Americas- Europe, Asia, Int’l

End Uses InsulationHome Furnishings AdhesivesConsumer Products CoatingsAircraft Deicers

End Uses Polyethylene and polypropylene manufacturers

Process LicensingCatalyst SalesTechnology ServicesNew Ventures

Technology

End UsesAutomotive FuelsAviation FuelsHeating OilIndustrial Engine Lube Oils

GasolineDieselOlefins FeedOxyfuels

Refining & Oxyfuels

End UsesFood PackagingTextilesAutomotiveAppliancesFilmsFlexible piping

Intermediates & Derivatives

EthylenePropylenePolyethylenePolypropylene CatalloyPP Compounds

1

Polybutene-11

Propylene OxideStyrene MonomerPG and PGEAcetylsC4 chemicals


Consumer

Refining / Fuels

Building & Construction

Transportation

Packaging

Textiles /Furnishings

Other

Coatings

Note: Company estimates based on 2008 LyondellBasell Sales using industry market splits derived from consultant data and internal estimates

…Lead To Sales Into Diverse End Markets With Significant Sales Into Consumables


Diversified & Vertically Integrated Portfolio…

Olefins & Polyolefins Americas

Refining & OxyFuels

Olefins & PolyolefinsEurope Asia & International

Capturing value along the chain

Wellhead

Refining

Olefins

OlefinDerivatives

Second Level

Derivatives

NGLsCrude

Refining

Fuels

Oxy Fuels

GlycolsGlycol Ethers

Butanediol

GlycolsGlycol Ethers

Propylene Oxide Acetyls Ethylene

Oxide StyrenePolybutene

Aromatics

PP Compounding

Olefins Crackers

Catalloy

Olefins

Polyethylene Polypropylene

Technology

Intermediates & Derivatives

Technology


1 As of December 31, 2009. Includes joint ventures and wholly-owned subsidiaries2 As of December 31, 20093 Revenues for the year ended December 31, 2009 based on delivery location4 Positions based on LyondellBasell wholly owned capacity and pro rata share of JV capacities as of December 31, 2009, except for Technology

positions which are as of December 31, 2008

…With Globally Integrated Leading Product Positions

Refining & OxyfuelsOxyfuels #1

Chemical ProductsPropylene Oxide #2Ethylene #4Propylene #4

Polymer ProductsPolyolefins #2Polypropylene #1Polyethylene #3Polypropylene Compounds #1

Technology and R&DPolyolefin Licensing #1Polypropylene Catalysts #1

Products Global Position 4

NA Europe Rest of World TotalSites 1 23 19 17 59Employees 2 6,120 7,750 990 14,860Revenues (%) 3 54% 35% 11% 100%

Bayport, TX, USA


Illinois• Morris• Tuscola

Georgia• Brunswick

Pennsylvania• Newtown Square

Texas• Carrollton• Chocolate Bayou• Mansfield• Houston• Mont Belvieu• Channelview• LaPorte• Bayport• Markham• Victoria• Matagorda• Corpus Christi

Mexico• Altamira • Tampico (JV)

Delaware• Wilmington

New Jersey• Newark• Edison

Tennessee• Jackson

Ohio• Fairport Harbor• Cincinnati

Michigan• Lansing

Iowa - USA • Clinton

Florida• Jacksonville

Louisiana• Lake Charles

POLYMERS CHEMICALS POLYMERS and CHEMICALS REFINING TECHNOLOGY

North American Footprint


UK (1 site)• Milton Keynes

France (2 sites)• Berre / Aubette• Fos-sur-Mer

Spain (1 site)• Tarragona

Germany (5 sites)• Wesseling / Knapsack• Frankfurt • Muenchmuenster• Bayreuth• Ludwigshafen

Poland (1 site)• Basell Orlen JV

Italy (3 sites)• Ferrara• Brindisi• Terni

Fuels

Chemical Monomers

Polymers

Chemical Intermediate

Technology

Netherlands (3 sites)• Botlek• Maasvlakte• Moerdijk

European Footprint

Note: Each circle represents the presence of a Business at a site, irrespective of the number of plants/lines the business has at that site


Tampico, MexicoIndelpro JV 49%

Pindamonhangaba, Brazil

Ensenada, ArgentinaAustralia

GeelongClydePolyPacific JV 50%

ThailandHMC 29%

JapanSunAllomer JV 50%Nihon, Oxirane JV 40%

South KoreaPolymirae JV 43%(2)

Saudi ArabiaSPC JV 25%SEPC JV 25%Al Waha JV 21%(1)

Chemical Monomers

Polymers

Chemical Intermediate

PolandBasell Orlen JV 50%

ChinaGuangzhou/NanshaSuzhouNingbo PO JV 27%

MalaysiaPolyPacific JV 50%

Owned Assets and JVs(Outside United States And Western Europe)

Note: Each circle represents the presence of a Business at a site, irrespective of the number of plants/lines the business has at that site1. Reflects our current ownership percentage. As the joint venture pays dividends over time, we anticipate our ownership will increase to a maximum of 25%.2. Reflects our direct (35%) and indirect ownership through SunAllomer.

100% Ownership, Unless Otherwise Stated


Leadership Team

Jim GalloglyChief Executive Officer

Craig GliddenExecutive Vice

President and Chief Legal Officer

Kent PotterExecutive Vice

President and Chief Financial Officer

Reynold Lee(Interim) Vice President,

Human Resources

Sam SmolikVice President,

Health, Safety and Environment

Massimo CovezziSenior Vice President,

Research and Development

Kevin BrownSenior Vice President,

Refining

Anton de VriesSenior Vice President, Olefins & Polyolefins -

Europe, Asia & International

Bob PatelSenior Vice President, Olefins & Polyolefins -

Americas

Pat QuarlesSenior Vice President,

Intermediates and Derivatives

Par SinghSenior Vice President,

Manufacturing - Europe, Asia & International

Karen SwindlerSenior Vice President,

Manufacturing -Americas

Just JanszSenior Vice President,

Technology


A Back To Basics Strategy

• Operational excellence

• Cost reduction/revenue enhancement

• Capital discipline

• Portfolio management

• Performance culture

• Technology-driven growth


I Company Overview

II Financial Overview

IV


Agenda

III



We Have A Conservative Corporate Financial Policy• Balance sheet capitalized to deal with near-term volatility and industry downturn.

Pre-funded to:

– Manage crude price and working capital volatility

– Cover potential operating losses

– Provide a cushion against uncertainty

• Strict and conservative policy with regard to cash utilization and investment policy

– Free cash flow focused on internal improvements and deleveraging

– Maintenance and necessary capital expenditures

• Growth and M&A policy

– Earn opportunity for future growth

– Consider sale of non-core assets when markets improve


We Emerge As A Broadly Traded Public EntityEQUITY• Public Company – New TopCo based in The Netherlands• Goal to be NYSE listed• $2.8 billion equity rights offering• Potential equity holders

– Approximately 375 Pre-petition First Lien Debt Holders

DEBT• Long-term debt

– First Lien debt of $3.26 billion consisting of term loans and notes, 6-yr and 7.5-yr maturities, respectively

– $3.25 billion DIP Roll-up replacement instrument• ABL/Securitization

– $1.750 billion asset based revolving credit facility with a $700 million letter of credit sub-limit

– €450 million European Securitization• Legacy debt

– $375 million (primarily consisting of $300 million 8.1% Notes due 2027)


• Organizational structure simplified to remove 90 North American entities, a 57% reduction• Initially, all of the Parent’s domestic and international subsidiaries will be restricted subsidiaries

Simplified Legal And Debt Organizational Structure

Borrower

Dutch

LyondellBasell Industries Holdings BV

Legend

LyondellBasell Subholdings B.V.

Dutch (new)

LyondellBasell Finance Company

Other German, Spanish, French

companies

LyondellBasell Industries N.V.

Dutch (new)

Other non-US Holding & Operating Companies

Basell Finance

Company

Dutch

Basell Germany Holdings GmbH

German

US

Houston Refining LP

US

Equistar Chemicals LP (owns

Basell USA assets)

US

LyondellBasell Acetyls, LLC

New 1st Lien Term LoansNew 1st Lien Notes

3rd Lien Roll-Up Notes

Basell Sales and Marketing

Company B.V. / Lyondell Chemie

Nederland B.V.Dutch

French and Asian

Propylene Oxide Assets

Euro Securitization$300 million 2027 Notes

Lyondell Chemical Company(Issuer)

US

US ABL Facility

Stock Pledge

Pledge of 65% of stock to support 1st Lien Debt

Lyondell-Basell

Flavors and Fragrances,

LLC

US (new) US (new)

Guarantor or Borrower under New 1st Lien Notes and New 1st Lien Term Loans

Dutch


Note 1: Dollars in millions; Note 2: Cash & LC Balances assume BASF related litigation is resolved before emergence

Solid Balance Sheet With Improving Credit MetricsPro Forma Capitalization as of April 30, 2010

Liquidity as of April 30, 2010

Pro Forma(4/30/2010)

ABL $0Euro Securitization 315First Lien TL 500First Lien Notes 2,756Other 24Total First Lien Debt $3,595

Third Lien Notes 3,245Total Senior Secured Debt $6,840

Other Debt 351Total Debt $7,191

Less: Cash (2,052)Net Debt $5,139

ABL Capacity $1,750L/C's Outstanding (300)Minimum Reserve (300)Cash On Hand 2,052Total Liquidity $3,202


Rating Agency Review

• Moody’s– B1 Corporate Family Rating (CFR), issued on March 15, 2010

• Ba3 on ~$3.25 billion first lien term loan and notes• B3 on $3.25 billion third lien eight year roll-up notes

• Standard & Poor’s– B+ Corporate Rating, issued on May 3, 2010

• BB on the ~$3.25 billion first lien term loan and notes• B on the $3.25 billion third lien eight year roll-up notes


0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0

Braskem SA

Huntsman Corp

Tesoro Corp

Valero Energy Corp

LyondellBasell

Dow Chemical Co.

Celanese Corp

Bayer

Ratio of Net Debt / EV

LyondellBasell Is Well Positioned For The FutureNet Debt / Enterprise Value 1

Sources: Bloomberg, April 2010; LyondellBasell1. Enterprise Value = Historical Market Cap + Preferred Equity + Minority Interest + Total Debt (ST & LT Debt) – Cash and Equivalents 2. LyondellBasell Enterprise Value as detailed in the March 2010 Disclosure Statement

2


Term Debt Summary

11.000%8.000%LIBOR + 400bps (1.50% LIBOR floor, 99 OID)

Pricing:

LyondellBasell Industries Escrow Corporation, to be merged with and into Lyondell Chemical Company

LyondellBasell Industries Escrow Corporation, to be merged with and into

Lyondell Chemical Company

LyondellBasell Industries Escrow Corporation, to be merged with and into

Lyondell Chemical Company

Borrower:

Standard Incurrence-based HY Covenants

Standard Incurrence-based HY Covenants

No Financial CovenantsCovenants:

Third priority lienFirst priority lien on PP&E, 65% of stock of all direct non-U.S.subsidiaries of LyondellBasell Industries NV and 100% of all direct U.S.

subsidiaries of LyondellBasell Industries NV; Second Lien on ABL Collateral

Security:

NoneNone1% per annumAmortization:

Non-call 3 yearsPar thereafter

Non-call 3 yearsYr 4: par + 75% of couponYr 5: par + 50% of couponYr 6: par + 25% of coupon

Yr 7: Par

Anytime at ParOptional Redemption:

8 years7.5 years6 yearsTenor:

~$3,250 MM~$2,750 MM(USD $2,250 MM notes; EUR €375 MM notes)

$500 MMAmount:

Roll-Up NotesSenior Secured NotesTerm Loan BIssue/Facility:


Liquidity Facilities Summary

Subject to grid based upon the Company’s ratings profileLIBOR + 375bps(1.50% LIBOR floor)

Pricing:

Triggers on company and on the portfolio of receivables

Minimum Fixed Charge Coverage Ratio shall apply if liquidity falls below set levels

Covenants:

Total eligible receivables less reserves85% of Eligible Receivables plus lower of a) 75% of cost or b) 85% of NOLV of Eligible Inventory

less Availability Reserves

Borrowing Base Definition:

Sellers1) Basell Sales and Marketing Company B.V. (“BSM”); and

2) Lyondell Chemie Nederland B.V. (“LCN”)

Lyondell Chemical CompanyHouston Refining LP

Equistar Chemicals, LPBasell USA, Inc

Borrower:

Secured by all assets of the Master Purchaser (Basell Polyolefins Collections Ltd.)

First priority lien on domestic A/R and Inventory; Second lien on PP&E

Security:

3-years, inclusive of the 364-day Committed Term and the 2-year Term Out Feature

4 yearsTenor:

€450 million$1,750 MMAmount:

EURO SecuritizationABL FacilityIssue/Facility:


1 Consolidated operating results are determined using the FIFO method of accounting to determine inventory cost except for certain U.S. inventories for which the LIFO method of accounting. For purposes of evaluating segment results, management reviews operating results determined using current cost, which approximates results using the LIFO method. LyondellBasell intends to adopt the LIFO method of accounting on a companywide basis upon emergence from bankruptcy and adoption of fresh start accounting

Historical Financial Overview($ in millions)

Year Ended December 31,

2008 2009SalesRefining and Oxyfuels $18,362 $11,439O&P - Americas 16,412 10,530 O&P - EAI 13,489 7,437 I&D 6,218 3,778 Technology 583 523 Other, including intersegment eliminations (4,358) (2,879)Total Sales $50,706 $30,828 % Growth 13.3% (39.2%)

EBITDARTotal LIFO / FIFO EBITDAR $1,445 $2,266

Current cost adjustment to inventory (1) (1,950) 30

Supplemental Total Current Cost EBITDAR $3,395 $2,236

Refining and Oxyfuels 1,175 255 O&P - Americas 502 743 O&P - EAI 803 341 I&D 571 535 Technology 291 309 Other including eliminations and unallocated 53 53 Supplemental Total Current Cost EBITDAR $3,395 $2,236 % of Sales 6.7% 7.3%


• Significantly de-levered balance sheet• Approximately $18 billion reduction in debt

– $5.2 billion of net debt projected as of April 30, 2010 vs. approximately $25.4 billion of estimated debt absent effectiveness of Plan of Reorganization

• First-lien leverage of 1.6x, 0.7x on a net basis as of April 30, 2010

Debt Liquidity

• Approximately $3 billion of opening liquidity– ~$2.0 billion of post-emergence cash– $1.75 billion ABL Revolver– €450 million securitization

Assets Equity

• Since 2007, underperforming assets have been rationalized

– 4 billion pounds of annual polymer and chemical capacity has been shut down

• $21.4 billion of total asset value after giving effect to Plan of Reorganization and application of fresh start accounting

– Relative to $3.6 billion of first-lien debt

• Goal to be a NYSE listed public company• $2.8 billion rights offering secured by ~375

first-lien debt holders• $15.2 billion enterprise value per midpoint of

Plan of Reorganization valuation

Improved Balance Sheet And Liquidity Profile


The New LyondellBasell –Stronger And Better Positioned

2007 / 2008 2010

Management & Strategy

• Combined, not merged• Multiple strategies• Growth through acquisition

• New Senior Management• Focused, proven strategy• Operational Excellence / Cost

Reduction / Accountability

Economic Environment

• Economic Peak• Chemical Cycle Peak

• Trough, heading towards recovery

Assets & Cost Structure

• Rationalization required• Building Middle East position• Combined, not merged• Legacy legal and environmental

liabilities

• Rationalized >4 B lbs., ~1 B lbs in process• Middle East JVs now operating• ~$1 B reduction in fixed costs• Legal and environmental liabilities largely

expunged in Chapter 11• Workforce reduction of ~3,000 employees,

~1,700 contractors

Corporate Structure & New Balance Sheet

• Private ownership• Debt burden $20+ B• $2 B Liquidity, but with pending

acquisitions of ~$1 B• Combined / Moderate tax

optimization

• Public• $7.2 B Gross Debt, $5.1 B Net Debt• ~$3 B Liquidity• Simplified, Tax optimized• New, significantly de-levered balance sheet


I Company Overview

II Financials

IV


Agenda

III



0

20

40

60

80

100

120

2003 2004 2005 2006 2007 2008 2009

Overview Of Refining & Oxyfuels

Source: Platts, LyondellBasell1 Includes LyondellBasell wholly owned capacity as of December 31, 2009

Product Position and Footprint Financial Snapshot

Historical Maya 2-1-1 Spreads Historical Oxyfuels Margins

End Markets

$0

$5

$10

$15

$20

$25

$30

2000 2002 2004 2006 2008 2010Jan '10

Maya 2-1-1 Spread$/bbl

Revenue

Supplemental EBITDAR – Current Cost

% Margin

2008

$18,362

1,175

6.4%

2009

$11,439

255

2.2%

($ millions)

Refineries USGC, France 373 MBPD

Oxyfuels Channelview, Botlek and FOS

75 MBPD

Facilities Capacity 1Product

Fuels, Heating Oil

Fuels

#6 (U.S. Refining)

#1 (MTBE / ETBE)

Global Ranking

Blending ValueBioFuel Premium

NWE Ether Raw Material Margin¢/gal ETBE equivalent


0

4

8

12

16

2000 2001 2002 2003 2004 2005 2006 2007 2008 200970%

80%

90%

100%

2000 2002 2004 2006 2008 2010 2012 2014

Overview Of Olefins & Polyolefins - Americas

Source: LyondellBasell1 Includes LyondellBasell wholly owned capacity as of December 31, 20092 Includes Olefins and Polymers – EAI segment3 Operating rate on a nameplate basis

Facilities6 Crackers

4 sites (1 JV)

6 sites

Capacity 1

9.6 B lbs

4.4 B lbs

5.8 B lbs

ProductEthylene

Polypropylene

Polyethylene

End MarketsChemical

Transportation, Packaging

Plastics, Consumer

Revenue


% Margin

2008

$16,412

502

3.1%

2009

$10,530

743

7.1%

($ millions)Global Ranking 2#4

#1

#3

Margin, ¢ per lbOperating Rate, % 3


North American Olefins Operating Rate Historical Olefins Cash Margins

LyondellBasell Actuals LyondellBasell Industry View


Source: LyondellBasell1 Includes LyondellBasell wholly owned capacity as of December 31, 20092 Includes Olefins and Polymers – Americas segment3 Operating rate on a nameplate basis4 PE chain margin does not include BD business. 2001-2007 margins based on FIFO inventory accounting basis; 2008-2009 margins based on current cost inventory accounting


EU Olefins Operating Rate Historical PE Chain Margin and PP Spread

Facilities5 Crackers (1 JV)17 sites (7 JVs)

5 sites (2 JVs)

15 sites (3 JVs)

Capacity 1

6.4 B lbs

12.8 B lbs

6.8 B lbs

2.4 B lbs PCMA

ProductEthylene

Polypropylene

Polyethylene

PP Compounding

Global Ranking 2#4

#1

#3

#1

Revenue


% Margin

2008

$13,489

803

6.0%

2009

$7,437

341

4.6%

($ millions)

End MarketsChemical

Transportation, Packaging

Plastics, Consumer Automotive

0

100

200

300

400

2000 2001 2002 2003 2004 2005 2006 2007 2008 20090

100

200

300

400

PE Chain Margin, € per ton

70%

80%

90%

100%

2000 2002 2004 2006 2008 2010 2012 2014

Operating Rate, % 3

Overview Of Olefins & Polyolefins - EAI

LyondellBasell ActualsLyondellBasell Industry View

PE Chain Margin (4)

PP Spread

PP Spread, € per ton


Joint Ventures Represent Significant ValueJoint

Venture CountryPercent

OwnershipRecent Activity

SEPC Saudi Arabia 25% Start-up in 2008/2009Al-Waha Saudi Arabia 21% Start-up in 2009

SPC Saudi Arabia 25% Expanded PP production in 2009

HMC Thailand 29% Expanded Propylene and PP in 2010

Basell Orlen Polyolefins Poland 50% -

Indelpro Mexico 49% Expanded in 2008SunAllomer Japan 50% -Polymirae South Korea 43% -

Polypacific Australia/ Malaysia 50% -

• Joint ventures allow the Company to participate in higher growth regions of the world without the significant capital expense of constructing wholly owned facilities

• 16 significant manufacturing joint ventures in 11 countries– Most ventures are in key geographic locations that have cost advantaged feedstock or

higher growth rates, including Asia, the Middle East, and Eastern Europe• The Company received $272 million of cash dividends from joint ventures during 2007-2009


60%

70%

80%

90%

100%

2002 2004 2006 2008 2010 2012 20140%

50%

100%

150%

2002 2004 2006 2007 2009

Source: LyondellBasell internal data1 Includes LyondellBasell wholly owned capacity as of December 31, 20092 Operating rate on an effective basis


PO Operating Rates

Facilities9 PO Units

1 Acetic Acid Unit 1 VAM Unit

Capacity 1

4.6 B lbs PO

1.2 B lbs AA,

0.7 B lbs VAM

ProductPropylene Oxide

Acetyls

Global Ranking#2

#2 (U.S.)

#4

Revenue


% Margin

2008

$6,218

571

9.2%

2009

$3,778

535

14.2%

Variable Margin

($ millions)End MarketsChemical, Plastics

Paints, Adhesives, Textiles

Resilient PO Operating Margins

PO C

hain

Var

iabl

e M

argi

n(2

008

= 10

0%)

Ope

ratin

g R

ate,

%2

Overview Of Intermediates & Derivatives

LyondellBasell Actuals LyondellBasell Industry View


0

10,000

20,000

30,000

40,000

2001 2003 2005 2007 2009 2011 2013

Mill

ion

Poun

ds

PP PE


Polymer Production Will Drive Catalyst Sales

Share of global licensed capacity since 2003

43%

35%

Product

PP

PE

Revenue


% Margin

2008

$583

291

49.9%

2009

$523

309

59.1%

Construction Drives Licensing

Industry Capacity Additions

($ millions)

0

25,000

50,00075,000

100,000

125,000

150,000175,000

200,000

225,000

2001 2003 2005 2007 2009 2011 2013

PE Production

PP Production

(mm lbs)

Source: LyondellBasell internal data, CMAI

Overview Of Technology


Note: Based on capacities as of December 31, 2009

Polymers Impact of 1¢/lb ChangeChemicals Impact of 1¢/lb Change

Refining Impact of $1/bbl Change and Oxyfuels Impact of 10¢/gal

Pre-Tax Impact on EBITDA, $ millions/yr

Our Size Provides Considerable Leverage To Recovery

$0

$20

$40

$60

$80

$100

$120

U.S. Olefins EU Olefins Propylene Oxide$0

$20

$40

$60

$80

$100

$120

$140

Polypropylene Polyethylene PP Compounding

U.S.

U.S.

ROW

ROW

Wholly Owned Contribution

Proportional JV Contribution

$0

$20

$40

$60

$80

$100

$120

$140

$160

Refining Oxyfuels

U.S.

ROW


$3,000

$3,500

$4,000

$4,500

$5,000

Realization of Significant Cost Savings

2009 Cash Fixed Cost: $1 B Savings versus 2008 Sources of Savings

2009 Plan

Compen-sation

Travel Maint/EHS

Profes-sional

Services

Facilities &

Equip-ment

Taxes & Insurance

Sales/Tolling/Other

Charge-outs

2009 Act.

Target Reduction 1

Realized To-Date 2

Employees 3,015 2,369Contractors 1,782 1,650

2009 Plan $2,312 MM2009 Act. $1,906 MM

2009 Plan $98 MM2009 Act. $30 MM

2009 Plan $521 MM2009 Act. $447 MM

Headcount

Compensation

Travel

Professional Services

2008 Act.

1 2010 Target2 As of December 31, 2009


I Company Overview

II Financials

IV


Agenda

III



Position in Key Refining & Oxyfuels Products 1

Global Position By Product

Source: EIA; Dewitt; CMAI; LyondellBasell internal dataNote: Capacities as of December 31, 20091. Positions based on LyondellBasell wholly owned capacity and pro rata share of JV capacities 2. Thousands of barrels per day3. LyondellBasell wholly owned capacity4. MTBE / ETBE split based on actual production at plants where there is swing capacity between the two fuels

US RefiningTotal Crude Distillation Unit

Capacity: 17,800 MBPD 2

MTBE 4

World capacity:399 MBPD

ETBE 4

World capacity:90 MBPD

• Lyondell capacity:– 268,000 barrels/day 3

• Deep conversion refinery asset• Heavy crude discounts

• Tightly integrated with chemicals operations• Significant scale advantages• Biofuels premium for ETBE• MTBE/ETBE capacity: 74,700 barrels/day 3

BP

LyondellBasell Marathon

Other

ConocoPhillips

ExxonMobil

Valero SABIC

LyondellBasell

OtherPetrochina

Sinopec

Huntsman

Shell

LyondellBasell

Braskem

Other

TotalPCK Schw edt

Repsol

CEPSA

Neste Oil


• LyondellBasell capacity: 2

–14.4 billion lbs pro rata–16.0 billion lbs including 100% JV

• North America flexibility• Saudi JV


– 8.9 billion lbs pro rata– 10.9 billion lbs including 100% JV

• Economic flexibility through 5 production processes

EthyleneWorld capacity:

293 billion pounds

Position in Key Chemical Products 1


Source: CMAI; LyondellBasell internal dataNote: Capacities are as of December 31, 2009.1 Positions based on LyondellBasell wholly owned capacity and pro rata share of JV capacities2 Pro rata capacity includes LyondellBasell wholly owned capacity and pro rata share of JV capacities. 100% basis includes LyondellBasell wholly owned capacity and 100% of JV capacities

PropyleneWorld capacity:

192 billion pounds

Propylene OxideWorld capacity:

18.7 billion pounds


– 2.5 billion lbs pro rata– 4.6 billion lbs including 100% JV

• Leading technology

DowSABIC

Other

ExxonMobil

LyondellBasell

Ineos

SINOPEC

Shell

SINOPEC

ExxonMobil

Shell

LyondellBasellOtherTotal

CNPC

Formosa

Dow

LyondellBasell

ShellBASF

Other

PropyleneWorld capacity:

192 billion pounds


PolyethyleneWorld capacity:

184 billion pounds

Global Position By ProductPosition in Key Polymer Products 1

Source: CMAI, LyondellBasell internal dataNote: Competitor capacities as of December 31, 20091 Positions based on LyondellBasell wholly owned capacity and pro rata share of JV capacities 2 Pro rata capacity includes LyondellBasell wholly owned capacity and pro rata share of JV capacities. 100% basis includes LyondellBasell wholly owned capacity and 100% of JV capacities

PolypropyleneWorld capacity:

121 billion pounds

PP Compounding World capacity:

12 billion pounds


– 12.1 billion lbs pro rata– 17.2 billion lbs incl 100% JV

• Leading technology• Saudi JVs



• Technology strength• Saudi JVs



• Specification products/ proprietary technology

SINOPEC

LyondellBasell

Other

Ineos CNPC

SABIC

Exxon

Formosa

Reliance

Total

Dow

ExxonMobil

LyondellBasell

Other

Borealis

SABIC

Sinopec

IneosNPC

Chevron Phillips

Mitsui

Other

LyondellBasell

HEP

Kingfa Wash. Penn

Mitsubishi

Borealis

Sumitomo


• Number 1 licensor since 2003 with more than 20 million tons of PE & PP capacity licensed globally • 43% of PP and 35% of PE global licensed capacity since 2003 uses LyondellBasell technologies• Proven processes with competitive capital and operating costs


Position in Polyolefins Technology & Catalyst

Source: LyondellBasell internal data as of 2008; CMAI; Chemical Market Resources, Inc., 20081 Installed capacity share2 Based on market share for Ziegler-Natta PP Catalyst3 Includes Lynx and PTK4 Includes Sud-Chemie, Grace, XY Chemicals, and others

PP LicensingWorld Capacity

121 billion pounds

PE LicensingWorld Capacity

184 billion pounds

PP CatalystWorld Capacity

3.3 billion pounds

Dow

LyondellBasell

JPP

Mitsui

Other

NTH Ineos

Univation

LyondellBasell

CP Chem

Ineos

Other

DowMitsui

LBI

BASF*Dow

Toho

Sinopec

MitsuiOthers**(4)

(3)

LyondellBasell


Key Product Capacities - Refining and Oxyfuels

Site:Capacity 1

(MBPD)Refining Houston, TX, USA 268

Berre, France 105373

MTBE / ETBE Channelview, TX, USA 46Fos-Ser-Mer, France 15Botlek, The Netherlands 14

75

1 Capacity based on LyondellBasell wholly owned capacity and 100% of JV capacitySource: LyondellBasell internal data as of December 31, 2009


Key Product Capacities - OlefinsSite:

Ownership Share 1

Capacity 2

(B lbs)

Ethylene Channelview, TX, USA 3.9

Clinton, IL, USA 1.1

Corpus Christi, TX, USA 1.7

La Porte, TX, USA 1.7

Morris, IL, USA 1.3

Muenchsmuenster, Germany 0.8

Wessling, Germany 2.4

Aubette, France 1.0

Saudi Arabia (SEPC) 25% 2.2

16.0

EO / EG Bayport, TX, USA 1.4

1.4

1 Represents LyondellBasell’s ownership share in joint venture2 Capacity based on LyondellBasell wholly owned capacity and 100% of JV capacitySource: LyondellBasell internal data as of December 31, 2009

Site:Ownership

Share 1Capacity 2

(B lbs)

Propylene Channelview, TX, USA 3.4Clinton, IL, USA 0.2Corpus Christi, TX, USA 0.7Houston, TX, USA 0.4La Porte, TX, USA 0.6Morris, IL, USA 0.3Muenchsmuenster, Germany 0.5Wessling, Germany 1.4Aubette, France 0.6Berre, France 0.2Saudi Arabia (SPC) 25% 1.0Saudi Arabia (SEPC) 25% 0.6Saudi Arabia (Al Waha) 25% 1.0

10.9

PO Channelview, TX, USA 1.2Bayport, TX, USA 1.2Fos-Ser-Mer, France 0.5Botlek, The Netherlands 0.6Maasvlakte, The Netherlands 50% 0.7Chiba, Japan (Nihon Oxirane) 40% 0.4

4.6

Bayport, TX, USA 0.7Fos-Ser-Mer, France 0.2Botlek, The Netherlands 0.5Chiba, Japan (Nihon Oxirane) 40% 0.2Shiny, Taiwan 27% 0.1

1.7

PG / PG Ethers


Key Product Capacities - PolyolefinsSite:

Ownership Share 1

Capacity 2

(B lbs)

PE Chocolate Bayou, TX, USA 0.5Clinton, IL, USA 1.0La Porte, TX, USA 0.9Matagorda, TX, USA 1.7Morris, IL, USA 1.2Victoria, TX, USA 0.6Frankfurt, Germany 0.5Wessling, Germany 2.9Aubette, France 0.7Plock, Poland (Basell Orlen) 50% 0.9Saudi Arabia (SEPC) 25% 1.8

12.6

1 Represents LyondellBasell’s ownership share in joint venture. Does not include contribution from offtake agreements2 Capacity based on LyondellBasell wholly owned capacity and 100% of JV capacitySource: LyondellBasell internal data as of December 31, 2009

Site: Ownership Share 1

Capacity 2

(B lbs)

PP Bayport, TX, USA 1.6Lake Charles, TX, USA 1.0Altamira, Mexico 49% 1.3Ensenada, Argentina 0.4Knapsack, Germany 0.6Wessling, Germany 0.8Aubette, France 0.8Brindisi, Italy 1.0Ferrara, Italy 0.4Terni, Italy 0.6Tarragona, Spain 0.9Carrington, UK 0.5Plock, Poland (Basell Orlen) 50% 0.9Saudi Arabia (SPC) 25% 1.6Saudi Arabia (Al Waha) 21% 1.0Kawasaki, Japan (SunAllomer) 50% 0.3Oita, Japan (SunAllomer) 50% 0.5Yeo-Chon, S. Korea (PolyMirae) 43% 1.5Mau Ta Put, Thailand (HMC) 29% 1.0Clyde, Australia 0.4Geelong, Australia 0.3

17.2


I Company Overview

II Financials

IV


Agenda

III


IV Appendix


EBITDAR Reconciliation to Net Income

Dollars in Millions 2008 2009Net (loss) (7,321)$ (2,865)$

Add:Depreciation and amortization (1,911) (1,774)Impairment charges (5,207) (17)Accounts receivable facility fees (44) ─Interest expense, net (2,407) (1,777)Reorganization items ─ (2,961)Joint venture dividends (98) (26)Benefit from income taxes 848 1,411

Deduct:Unrealized foreign currency exchange gain ─ 193Income from discontinued operations, net of tax 15 1Income (loss) from equity investments 38 (181)LIFO/FIFO EBITDAR 1,445 2,266Less ─ Current cost adjustment to inventory (1,950) 30Supplemental Current Cost EBITDAR 3,395$ 2,236$

LyondellBasell Industries AF S.C.A.(formerly Basell AF)

Year Ended December 31,

Documents

Investor Presentation