ALPEK, S.A.B. de C.V.
Annual Report 2025

Plain-text annual report

20 25 Integrated Annual Report Table of Contents 01 04 07 05 08 10 06 09 11 02 03 Message from Management 2025 Highlights • Financial Highlights • ESG Highlights About Alpek • Introduction • Market Presence • Alpek in the Daily Lives • Long-term Strategy 2025 Performance • Polyester • P&C • ESG Our Governance • Corporate Governance • Board of Directors • Management Team • Risk Management • Operative Framework • Materiality Assessment • ESG Model • Code of Conduct • Cybersecurity Alpek’s People • Our Team • Quality of Life • DEI • Occupational Safety • Human Rights Social Impact • Community Impact • Alpek’s Value Chain Natural Capital • Net Zero Roadmap • Material Issues & Progress Consolidated Financial Statements Financial Review Contact Us ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 2 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 3 GRI: 2-22 TCFD: Governance result that reflects the challenges of the environment and, at the same time, the strength of our diversification. Despite the adverse external backdrop, Alpek strengthened its operating discipline and maintained solid cash generation. In 2025, Operating Free Cash Flow reached US$163 million, a performance that reflects the quality of our portfolio and our consistent focus on efficiency. Dear Shareholders, 2025 was a challenging year for the global petrochemical in- dustry. Overcapacity across several value chains, weakness in certain end markets, and volatile economic environment pressured margins across the industry. Alpek is no stranger to these types of environments. Through- out its history, the Company has faced complex cycles and has been able to adapt, make timely decisions, and strengthen its competitiveness. Today, as in other decisive moments in our history, we are confident that the actions we have undertaken over recent years and the strategic initiatives currently underway will allow us to capture an improvement in results as markets normalize, while we continue to evolve our product and market portfolio to strengthen the resilience of our sales. This approach combines preparation for a gradual recovery in demand with concrete actions aimed at improving the quality, diversification, and stability of our revenues. The accumulated experience of our management team and its disciplined execution continue to be a fundamental pillar in navigating these cycles. Industrial activity during the year showed contrasting trends. In Polyester, the combination of global oversupply and scheduled maintenance shutdowns limited volumes and profitability. In contrast, the Plastics & Chemicals segment delivered stable results, despite constrained reference margins, supported by a diversified portfolio that partially offset consolidated perfor- mance. Overall, Comparable EBITDA totaled US$489 million, a This cash generation supported our liquidity, extended our maturity profile, and, together with other financial actions implemented during the year, allowed us to continue advancing key strategic initiatives. Message from Management 01 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 3 During the year, we took meaningful steps under our four-initia- tive strategic framework, focused on strengthening the Com- pany’s position to drive long-term growth and value creation. 2. Financial Flexibility and Discipline We continued to strengthen our financial position through strict capital allocation, working capital improve- ments, debt refinancing, and the temporary suspension of the dividend. Across different cycles, consistent cash generation has distinguished Alpek and underpins our decision making. 3. Driving Growth in Higher Value-added Solutions We advanced higher-margin applications in PET sheet, thermoforming, and specialized solutions in Expandable Polystyrene and Polypropylene, expanding our partici- pation in attractive markets. 4. Expansion of Emerging Businesses Our energy commercialization business continued to scale and consolidate, making a positive contribution to annual performance. The expansion of this mod- el, initially focused on natural gas and now extending into the power sector, has progressed in ways that strengthen the Company’s diversification beyond the petrochemical cycle. These four initiatives reinforce our strategic direction and position us to capture value-creation opportunities both in the current environment and in a gradual recovery scenario, strengthening our resilience regardless of the cycle. On the financial front, the year closed with leverage of 4.4x, above expectations. Debt reduction remains our top financial priority, and we are executing concrete actions such as the monetization of non-strategic assets, cost-optimization initiatives, and disci- plined capital allocation. Our long-term leverage target remains at 2.5x, and we are committed to returning to that level. From a corporate structure standpoint, a key milestone during the year was the merger with Controladora Alpek, which allowed us to become a fully independent company with 100% free float. This transformation strengthens our corporate governance, in- creases stock liquidity, and enhances our potential inclusion in relevant indices. It also broadens our access to a new universe of investors. In addition, we would like to highlight the tenth anniversary of our Styropek business, a leading Expandable Polystyrene pro- ducer in North America. We remain committed to operational excellence and to the continued development of new products. Looking ahead to 2026, we expect conditions similar to the prior year, with significant challenges stemming from continued global oversupply, mature demand, and low interoceanic freight costs that facilitate the entry of more competitive Asian products into our core markets, pressuring industry profitability. Even so, we anticipate a year of greater operating stability and gradual signs of improvement in certain markets. In Polyester, we expect more stable operations following the maintenance shutdowns carried out in the prior year, prioritiz- ing domestic markets where our integration and scale provide competitive advantages. In Plastics & Chemicals, while new Propylene capacity entering the region and the slow recovery of construction suggest a more challenging environment, we believe our strategic initiatives in the segment will strengthen the business profile. In addition, we expect our diversification efforts toward higher value-added products, particularly PET sheet and thermoforming, Expandable Polystyrene specialties, and high-performance Polypropylene solutions, together with the gradual growth of the energy commercialization business, now expanded into electricity, to continue on a positive trajectory, contributing incrementally and sustainably to the Company’s value and supporting the construction of a portfolio that is less dependent on the traditional petrochemical cycle. We look to the future with realism and confidence. We recognize the work carried out in 2025 as a foundation to move forward with determination. We extend our sincere gratitude, first and foremost, to you, our Shareholders, as well as to our employees, customers, suppli- ers, and Board members, for your continued commitment and support. Your trust inspires us to continue building a stronger, more competitive Alpek, well prepared for the future. Álvaro Fernández Garza Chairman of the Board Jorge P. Young Cerecedo Chief Executive Officer 1. Strengthening our Operations and Core Business We advanced measures to enhance efficiency and com- petitiveness, including the suspension of PET operations at Cedar Creek to focus on larger-scale integrated sites. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 4 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT Highlights02 $163M OPERATING FREE CASH FLOW1 +25 K Tons RECYCLED R-PEK EXTRUSION PLANT IN TENNESSEE 33% SCOPE 1&2 CO2e EMISSIONS REDUCTION VS 2019 (SBTi-based) $489M COMPARABLE EBITDA 100% FREE FLOAT IN MEXICAN STOCK EXCHANGE 12 sites WITH 0 RECORDABLE INCIDENTS 1 OPERATING FREE CASH FLOW IS DEFINED AS CASH FLOW GENERATED BY OPERATIONS AFTER NET WORKING CAPITAL, FINANCIAL EXPENSES, TAXES AND MAINTENANCE CAPEX, PRIOR TO STRATEGIC CAPEX, DIVIDENDS AND OTHER EFFECTS. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 5 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT MESSAGE FROM OUR MANAGEMENT 2025 HIGHLIGHTS 03 About Alpek Alpek develops essential products to benefit people’s everyday lives through constant innovation and sustainable manufacturing. Alpek’s materials extend from the daily food and medical industries to long- term applications in housing and construction. Working to meet global societal and environmental everyday needs has been, and will always be, essential to Alpek’s purpose and values. AUTOMOTIVE | PP Key Components SPORTS | PET Hydration & Wellness CONSTRUCTION | EPS Thermal Insulation FOOD | PET SHEET Social Gathering OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 6 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT ABOUT ALPEK 9 +5,000 34 USA CANADA MEXICO BRAZIL UNITED KINGDOM SAUDI ARABIA OMAN ARGENTINA CHILE PLANTS PLANTS USA MEXICO BRAZIL ARGENTINA CHILE CANADA UNITED KINGDOM SAUDI ARABIA OMAN PLANTS COUNTRIES EMPLOYEES OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 7 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT ABOUT ALPEK Market Presence Mexico 2,760 Kta Canada 144 Kta USA 2,409 Kta Argentina 246 Kta Brazil 1,136 Kta Chile 28 Kta Oman 1,072 Kta Saudi Arabia 11 Kta United Kingdom 220 Kta PTA Resin Sheet Flake Pellet SPT PP EPS Other PET PET rPET rPET rPET CAPACITY MESSAGE FROM OUR MANAGEMENT ABOUT ALPEK initiatives ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 8 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT Strategy Strengthen Core Business Build a solid operational foundation driven by competitiveness and efficiency. Core Business Core + Emerging Business Emerging Business Financial Flexibility Enhance cash flow generation and maintain strong liquidity. Boosting Growth Drive transformative growth initiatives in the core business. Capitalizing on Opportunities Explore opportunities for diversification to seize growth. Our long- term vision is built on four key 01 03 04 02 ABOUT ALPEK 04 2025 Performance ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 9 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE VOLUME (K TONS) COMPARABLE EBITDA (US$, MILLIONS) 4,635 2023 734 2023 4,798 2021 962 2021 4,745 2024 699 2024 5,065 2022 1,396 2022 4,380 2025 489 2025 GRI: 201-1 Polyester Plastics & Chemicals Others Reported EBITDA REVENUES (US$, MILLIONS) NET DEBT & LEVERAGE (DEBT US$, MILLIONS & LEVERAGE TIMES) 6,585 7,530 7,759 10,555 7,697 2025 2025 1,840 2024 2024 1,884 2023 2023 2022 2022 2021 2021 1,729 1,860 1,225 4,099 966 3,785 849 3,911 834 3,609 458 480 823 567 497 232 464 223 267 209 771 24 5 5 12 13 3,796 1,002 2.9 3.4 1.3 1.1 4.4 2025 Financial Highlights 514 1,145 646 1,455 418 163 Operating Free Cash Flow (US $, Millions) MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 10 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE 6,938 thousand tons installed capacity #1 PTA, PET and recycled PET producer across the Americas Leading PET producer worldwide 25 plants 3,496 employees Polyester ARGENTINA BRAZIL CANADA MEXICO USA OMAN SAUDI ARABIA UK ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 11 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE 2025 marked a challenging year for the Polyester segment. Global oversupply from Asia resulted in continued pressure on reference margins and lower demand levels. In addition to this, the segment ex- perienced market fluctuations and volatility resulting from the reciprocal tariffs imposed by the U.S. on PET, which signaled market players to operate cau- tiously, particularly during the first half of the year. During the second half of the year, the segment ex- perienced longer than expected maintenance shut- downs and declining ocean freight costs. As a result, full-year Guidance was revised downward. Asian PET reference margins averaged $283 per ton, a decrease of 5% over 2024, seeing lower levels com- pared to the same periods last year on a quarterly basis. On the other hand, average Chinese reference margins experienced greater volatility during the first half of the year, and gradually stabilized towards year end, resulting in an average of $142 per ton, 10% lower annually. Volume levels remained pressured in the segment, and alongside maintenance shutdowns, declined by 8% year-over-year, resulting in 3,609 thousand tons. Full-year Comparable EBITDA totaled $267 million, a significant drop of 42% compared to 2024, as ref- erence margins and prices decreased. Additionally, ocean freight costs decreased to historical levels. Overall performance reflected the ongoing pressure across the global petrochemical industry. For 2026, we expect overcapacity pressures across the industry to persist, however we are beginning to see more stable levels for volume and reference margins, which could present potential upsides in the segment. Industry-wide rationalization efforts are progressing more slowly than anticipated and ocean freight costs are expected to remain at relatively low levels. Additionally, most of our operations have since resumed. Overall, we expect greater operational and financial stability, forecasting a modest improvement in results. Included in our Guidance for the year is the potential benefit resulting from reciprocal tariff negotiations, which remain pending with regulatory resolution. We will continue to monitor these effects as they evolve through the year. Relevant Events: Footprint optimizations: During the year, as part of our core business strengthening initiatives, we execut- ed a key strategic action to shut down our Cedar Creek facility and reallocating production to scalable and integrated sites. Through this, we expect additional savings of over $20 million, distributed throughout 2026. 2026 Strategy: Commodity segment (PTA and PET resins): Our focus is on integrated, scalable hubs serving at- tractive domestic markets, primarily in the United States, Brazil and Mexico. – Footprint Optimization: Decision to suspend operations at the Reading recycling facility. – Demand for virgin PET: Relocating capacity to our Richmond facility, which offers a more cost-com- petitive platform. High-value Polyester (PET Sheet and Thermoformed): We are advancing targeted, low-CAPEX investments to debottleneck operations in the Middle East and strengthening our product development capabilities. – Scalability: Expanding our position into a fast-growing segment and increasing our exposure to higher margin applications. 1. Expansion of Emerging Businesses Our energy commercialization business continued to scale and consolidate, making a positive contribution to annual performance. The expansion of this mod- el, initially focused on natural gas and now extending into the power sector, has progressed in ways that strengthen the Company’s diversification beyond the petrochemical cycle. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 12 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE Only PP producer in Mexico Plastics & Chemicals 1,018 thousand tons installed capacity 9 plants #1 EPS producer in the Americas Alpek produces Polypropylene (PP), Expandable Polystyrene (EPS), fertilizers and specialty chemicals 1,126 employees ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 13 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE GRI: 2-6 On a higher note, the Plastics & Chemicals seg- ment delivered stable performance, as it main- tained solid demand levels and reference margins across the product portfolio. Results reflected a gradual continuation of trends seen in 2024, as demand pressure was offset by resilient reference margins. Within the broader industry context, these results highlighted the resilience and importance of the diversified portfolio. Regarding reference margins, EPS averaged 34 cpp, an improvement over 2024 of 12%, following the spike seen towards the end of last year. North American PP reference margins saw a decrease to 14 cpp, declining by 7% year-over-year, as a ramp- up in installed capacity resulted in pressured but stable performance. Demand throughout the year remained under pres- sure, given the global industry conditions, result- ing in a volume of 771 thousand tons, down 8% year-over-year. This led to a Comparable EBITDA of $209 million, 6% lower than last year. For 2026, we expect profitability in this segment to remain somewhat constrained. New capacity additions in North America, particularly in Polypro- pylene, are expected to pressure reference margins and a continuation of softness in EPS demand, as a recovery in construction markets has yet to materialize, impacting demand. Notably, Alpek is moving forward with specialized product solutions that will expand the portfolio and enhance the seg- ment’s competitiveness. 2026 Strategy: Leverage Competitive Regional Assets: We are expanding into high-performance and specialty solutions. – Strategic Investments: We will begin ramping up investments made in prior years for EPS special- ties and initiating a multi-year growth project focused on Polypropylene and other high-performance solutions, which are expected to become key EBITDA contributors over time. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 14 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE Ratings GRI: 2-27 TCFD: Governance, Risk Management CSA S&P: 1.3 Strategy & Execution Alpek maintains a strong commitment to transparency and high stan- dards of environmental, social, and governance (ESG) performance. To strengthen credibility and comparability, the Company continues to actively engage with leading ESG rating agencies, using their assess- ments as tools to identify opportunities for improvement and enhance sustainability management practices. Progress 2025 In 2025, Alpek strengthened the robustness of its sustainability disclosures and performance across governance, climate change, water stewardship, and sustain- ability management. These efforts led to improved ESG ratings, including achieving Sustainalytics’ Low Risk category for the first time, a four-point increase in its CSA ESG Overall Score, and an upgrade in CDP Water Security rating from B- to B, reinforcing its commit- ment to transparency and continuous improvement. ESG SCORE (SCORE IMPROVEMENT YOY) Chemical Industry’s Average Score ESG RISK RATING (RISK REDUCTION YOY. THE LESS RISK, THE BETTER) Chemical Industry’s Average Risk Percentile CLIMATE CHANGE (SCORE IMPROVEMENT YOY) Chemical Industry’s Average Score WATER SECURITY (SCORE IMPROVEMENT YOY) Chemical Industry’s Average Score ESG RATING (SCORE IMPROVEMENT YOY) Chemical Industry’s Average Score 59 26 20 18 59 63 25 27 B C BB 28 31 - - BB 32 31 B B - 2023 2023 2024 2025 2024 2025 The following graphs show Alpek’s progress with the most relevant rating agencies from 2023 to 2025 BBB B B- BB B B- B B 2023 2023 2023 2024 2024 2024 2025 2025 2025 BBB ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 15 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE Certifications Strategy & Execution As part of its commitment to sustainability, Alpek upholds widely recognized certifications in qual- ity, environmental management, and corporate responsibility throughout its operations. These certifications help ensure adherence to international standards, improve operational efficiency, and foster ongoing improvement through independent external audits. CERTIFIED TO ISO CSA S&P: 2.1.2 ISO 9001 certification is maintained across multiple operations, including sites in Mexico, the United States, Brazil, Oman, Chile, Argentina, Canada, the United King- dom, and Saudi Arabia. This certification supports the implementation of Quality Management Systems (QMS) designed to ensure consistent product and service quality, meet customer and regulatory re- quirements, enhance operational efficien- cy, promote continuous improvement, and strengthen customer satisfaction. ISO 14001 certification is maintained across several Alpek operations in Mexi- co, the United States, Brazil, Oman, Chile, Argentina, and the United Kingdom. This certification supports the implementation of Environmental Management Systems (EMS) designed to identify and manage environmental impacts, ensure regulatory compliance, improve resource efficiency, mitigate environmental risks, and drive continuous environmental improvement across manufacturing activities. ISCC+ is a globally recognized sustainabil- ity certification that supports the respon- sible sourcing and use of bio-based and circular materials, with a strong emphasis on traceability across selected operations. Alpek holds ISCC+ certification for its sus- tainable expandable polystyrene product line, reinforcing its commitment to circu- lar economy principles and sustainable innovation. Alpek’s styrenics business holds SCS Global Services certification for recycled content, which independently verifies the percentage of recycled material incorpo- rated into its production processes. This certification ensures traceability, integri- ty, and validation of recycled inputs, rein- forcing the plant’s commitment to circu- lar economy principles and responsible manufacturing. RESPONSIBLE CARE CERTIFIED Alpek maintains Responsible Care (Siste- ma de Administración de Responsab- ilidad Integral, or SARI in Spanish) certification across multiple business segments, underscoring its commitment to health, safety, environmental steward- ship, and the responsible management of chemical products. ISO 9001 ISO 14001 ISCC+ Certification SCS Recycled Content (Mexico) R e s p o n s a b i l i d a d I n t e g r a l otorga el presente a la empresa Por haber cumplido los compromisos derivados del Sistema de Administración de Responsabilidad Integral. Ciudad de México, 29 de Noviembre de 2024 Certificado RCMX-055624-1121 Vencimiento: Noviembre 21, 2027 Responsabilidad Integral La Asociación Nacional de la Industria Química, A. C. en su carácter de promotor del desarrollo sustentable INDELPRO, S.A. DE C.V. 2026 2025 2024 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 16 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE Alliances & Commitments GRI: 2-28, 2-29 CSA S&P: 1.5.1, 2.5.12 Strategy & Execution Alpek actively forges alliances with organizations and initiatives that advance sustainable development. By engaging in global and industry-led platforms, the Company demonstrates its dedication to responsible business practices, collaboration, and continuous improvement across its operations. Alpek aligns with interna- tionally recognized initiatives on sustainability, climate action, human rights, and circularity, embedding these commitments into its long-term sustainability strategy. In 2025, Alpek remained active in over 100 associations and initiatives. The Company has reinforced its commitment to the Sustainable Development Goals (SDGs) by endorsing the Women’s Empow- erment Principles (WEPs). It is committed to reducing emissions through the Science Based Targets initiative (SBTi) and supports the UN Global Compact, encouraging other Mexican companies to join these global efforts. In addition, Alpek actively partners with recycling advocates. Alpek is a signatory to the Women’s Empowerment Principles (WEPs). Alpek has science-based greenhouse gas emissions reduction targets approved by the Science Based Targets initiative (SBTi). Alpek is a participant in the United Nations Global Compact and supports its Ten Principles on human rights, labor, environment, and anti- corruption. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 17 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2025 PERFORMANCE 05 Our Governance ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 18 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Governance 85% GRI: 2-9, 2-10, 2-11, 2-12, 2-13 CSA S&P: 1.2 Board of Directors The Board of Directors, together with the Audit and Corporate Practices Committees, imple- ment and maintain the best practices and highest standards of Corporate Governance in the Company. As a public Company, Alpek has the obligation to keep its investors informed of all its financial activities under required standards, thus ensuring full transparency. Its Board of Directors is Alpek’s highest governing body. Its members are chosen based on their skills and previous experience with Alpek’s strategic and ESG needs, as well as their integrity and standing in the global community. of Alpek’s Board members are independent, and 100% of the committee members are independent. Proprietary directors with no alternates of the Board members are women Directors 2 13 8% Independent Board members ADDITIONAL AND DETAILED INFORMATION FOR 2025 CAN BE FOUND IN THE SUSTAINABILITY REPORT. 11 ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 19 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Audit & Corporate Practices Committees The Audit and Corporate Practices Committees support the Board, and are entirely composed of independent members. The Committees meet, separately, every quarter and oversee the following topics throughout the year: Selection and determination of fees for the external auditor Recommendations for succession plans and replacement options Coordination with the Company’s internal audit committee Sustainability issues review Assessment of accounting policies, employment terms and severance payments, as well as compensation for senior executives 01 02 02 03 01 The Company has internal control systems with general guidelines that are submitted to both the Audit and Corporate Practices Committee for its opinion. In addition, the external auditor validates the effectiveness of the internal control system and issues the corresponding reports. Alpek promotes good corporate citizenship. It has a mission, vision, values and a code of ethics that are promoted within the organization. Audit Committee Corporate Practices Committee ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 20 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Sustainability Governance GRI: 2-12, 2-13, 2-15 CSA S&P: 1.4.2 Alpek’s Leadership Team drives a top-down approach across all sustainability and climate initiatives, ensuring alignment with the Com- pany’s business objectives. To support effec- tive implementation, Sustainability Champi- ons have been appointed at the business unit level. These champions, together with the Corporate Sustainability Team led by the Chief Sustainability Officer (CSO), have further developed Alpek’s Sustainability Strategy and ensure it is embedded across operations. The CSO regularly reports progress to the Sustainability Executive Committee (C-Suite) and the Audit Committee. The Sustainability Support Team communicates updates on initiatives, performance, and key outcomes during quarterly meetings with management teams, sustainability champions, and opera- tional taskforces across all regions. The CSO role is currently led by the company’s Chief Financial Officer (CFO). Audit Commitee Oversees sustainability- and cli- mate-related risks and opportu- nities, ensuring they are integrat- ed into the Company’s risk map, aligned with strategy, monitored through KPIs, and supported by effective controls that maintain consistency with IFRS S1 and S2 disclosures. Sustainability Executive Committee (C-Suite) Defines the Company’s sustain- ability and climate strategy, sets objectives and metrics, and mon- itors performance and resource allocation. Circularity & Operations Committee Implements climate and circulari- ty initiatives, monitors operational performance, and escalates risks and opportunities to the executive level. IT Committee Oversees cybersecurity and related technology risks, ensuring proper controls, monitoring, and alignment with Company strategy. Chief Executive Officer (CEO) Ensures that sustainability-related matters are reflected in the business strategy and budget. Chief Sustainability Officer (CSO) Drives the implementation of the sustainability strategy and the execution of sustainability-related activities. Sustainability Collects and analyzes data, implements the sus- tainability strategy, and prepares disclosures and reports while coordinating external assurance. Internal Audit Conducts reviews in accordance with the ap- proved plan, focusing on sustainability-related topics. Human Resources Oversees social-related regulatory activities and proposes training initiatives based on input from community liaisons. Committees Responsible for Sustainability Oversight Frequency: Annually Quarterly Quarterly Bi-monthly Management Roles Support Teams Alpek firmly believes that the success of its sustainability strategy relies on active engagement and strong leadership within top management. Through this comprehensive organizational structure and the establishment of periodic committees across management levels, the Company ensures effective guidance, accountability, and stewardship of its sustainability material topics, risks, and objectives. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 21 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Board of Directors GRI: 2-9, 2-11, 2-17 Exceedingly Qualified Board of Directors NAME AGE BOARD TERNURE CEO EXPERIENCE INDEPENDENT RELATED PATRIMONIAL CORPORATE PRACTICES COMMITTEE AUDIT COMMITTEE STRATEGIC PLANNING FINANCE OPERATIONS MARKETING PUBLIC POLICY ADMINISTRATION INVESTMENTS AUDIT & RISK MANAGEMENT CORPORATE GOVERNANCE INTERNATIONAL AFFAIRS CONSUMER GOODS PETROCHEMICALS AUTOMOTIVE INDUSTRIAL TELECOMMUNICATIONS CONSTRUCTION INDUSTRIAL RETAIL REAL ESTATE ENERGY BANKING INTERNATIONAL COMMERCE HEALTH STEEL MANUFACTURING INTERNATIONAL TRADE Álvaro Fernández Garza CHAIRMAN OF THE BOARD 57 15 Rodrigo Fernández Martínez 50 14 Armando Garza Sada 68 15 Francisco José Calderón Rojas 59 14 Andrés Enrique Garza Herrera 58 14 Cecilia Montserrat Ramiro Ximénez 53 3 José de Jesús Valdez Simanca 73 3 Alejandro Mariano Werner Wainfeld 59 3 Jaime Zabludovsky Kuper 69 7 Armando Garza Herrera 30 1 David Martinez Guzmán 68 1 Enrique Castillo Sánchez Mejorada 69 1 Guillermo Francisco Vogel Hinojosa 75 1 GENERAL BOARD MEMBER TYPE EXPERTISE INDUSTRY ROLE ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 22 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Board of Directors GRI: 2-9, 2-11, 2-17 Álvaro Fernández Garza CHAIRMAN OF THE BOARD Age: 57 Board-Related Information: Tenure: 15 years (2011) Key Experience: Position: Chairman & CEO of Sigma Foods, S.A.B. de C.V. Public Boards: 6 Total | Sigma Foods (Chairman) | Axtel (Co-Chairman) + CTAxtel (Chairman) | Nemak (Chairman) | Cydsa (Member) | Vitro (Member) Education: BA from Notre Dame University | MBA from ITESM | MBA from Georgetown University Rodrigo Fernández Martínez Age: 50 Board-Related Information: Tenure: 14 years (2012) Key Experience: Position: CEO of Sigma Alimentos, S.A. de C.V. Public Boards: N/A Education: BA from UVA | MBA from Wharton Armando Garza Sada INDEPENDENT Age: 68 Board-Related Information: Tenure: 15 years (2011) Key Experience: Position: Member of the Board of Directors of Alpek Public Boards: 5 Total | Sigma Foods (formerly ALFA) (Member) | Nemak (Member) | Axtel + CTAxtel (Member) | | Liverpool (Member) | Lamosa (Member)  | BBVA México (Alternate Member) Education: BA from MIT | MBA from Stanford Francisco José Calderón Rojas INDEPENDENT Age: 59 Board-Related Information: Tenure: 14 years (2012) Key Experience: Position: President of Franca Industrias, S.A. de C.V. and Franca Servicios S.A. de C.V. Public Boards: 1 Total | FEMSA (Member) Education: BA from ITESM | MBA from UCLA Andrés Enrique Garza Herrera INDEPENDENT Age: 58 Board-Related Information: Tenure: 14 years (2012) Key Experience: Position: President of Consejo Nuevo León Public Boards: N/A Education: BA from ITESM | MBA from the University of San Diego | Global Leadership Program at IMD (Switzerland Audit Committee Audit Comittee ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 23 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Board of Directors GRI: 2-9, 2-11, 2-17 Cecilia Montserrat Ramiro Ximénez INDEPENDENT Age: 53 Board-Related Information: Tenure: 3 years (2023) Key Experience: Position: Country Manager UGT Renewables Public Boards: Total 2 | BlackRock Mexico (Member) | Fibra MX (Member) Education: BA in Economics from ITAM | MS in Economics from University College London | GradDip in Finance from Harvard Extension School – Cambridge | GradDip in Corporate Social Responsibility from Harvard Business School José de Jesús Valdez Simancas INDEPENDENT Age: 73 Board-Related Information: Tenure: 3 years (2023) Key Experience: Position: Member of the Board of Alpek Public Boards: Total 1 | Betterware de México (Member) Education: BS and MBA from ITESM | Master’s Degree in Industrial Engineering from Stanford University Alejandro Mariano Werner Wainfeld INDEPENDENT Age: 59 Board-Related Information: Tenure: 3 years (2023) Key Experience: Position: Founding Director at Georgetown Americas Institute Public Boards: Total 1 | Acciona Energia (Member) Education: BA in Economics from ITAM | PhD in Economics from MIT Jaime Enrique Zabludovsky Kuper INDEPENDENT Age: 69 Board-Related Information: Tenure: 7 years (2019) Key Experience: Position: VP of IQOM Inteligencia Comercial Public Boards: Total 1 | Fibrahotel (Member) Education: BA from ITAM | PhD from Yale Armando Garza Herrera INDEPENDENT Age: 30 Board-Related Information: Tenure: 1 year (2025) Key Experience: Position: Global Customer Manager at Sigma Alimentos Public Boards: N/A Education: BS from Cornell University Corporate Practices Committee Corporate Practices Committee Corporate Practices Committee ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 24 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Board of Directors GRI: 2-9, 2-11, 2-17 David Martínez Guzmán INDEPENDENT Age: 68 Board-Related Information: Tenure: 1 year (2025) Key Experience: Position: Founder and Special Director of Fintech Advisory Inc. Public Boards: Total 2 | CEMEX (Member) | Vitro (Member) Education: Mechanical and Electrical Engineering from UNAM | MBA from Harvard Business School Enrique Castillo Sánchez Mejorada INDEPENDENT Board-Related Information: Tenure: 1 year (2025) Key Experience: Position: Chief Executive Officer of Tejocotes 134, S.C. Public Boards: Total 5 | Grupo Hérdez (Member) | Southern Copper Corporation (Member) | Medica Sur (Member) | Sigma Foods, S.A.B. de C.V. (Member) | CNP Assurance Paris, France (Member) Education: BS from Universidad Anáhuac Guillermo Francisco Vogel Hinojosa INDEPENDENT Board-Related Information: Tenure: 1 year (2025) Key Experience: Position: Chairman of the Board of Grupo Collado | Vice Chairman of the World Board of Tenaris Public Boards: Total 2 | Banco Santander México (Member) | Operbus, S.A. de C.V. (Member) Education: BS from UNAM | MBA from UT Age: 75 ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 25 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Audit Committee Age: 69 ALEJANDRO LLOVERA ZAMBRANO President of Polyester Business ALEJANDRO ALANÍS FERNÁNDEZ President of Polypropylene Business Management Team JORGE P. YOUNG CERECEDO Chief Executive Officer TERESA QUINTERO MÁRMOL Senior Vice President Human Capital JOSÉ CARLOS PONS DE LA GARZA Chief Financial Officer ANDREAS PLETTNER RUTISHAUSER President of Expandable Polystyrene Business DAVID COINDREAU GARZA President of Specialty Chemicals Business ROBERTO BLANCO SÁNCHEZ President of Natural Gas Business ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 26 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE GRI: 201-2 CSA S&P: 1.4.1, 1.4.2 Progress 2025 During the year, Alpek continued strengthening its site-specific assessment of physical climate risks using the ThinkHazard platform, which evaluates potential exposure to climate-related hazards at each operating site. The Company also continued refining its water risk manage- ment approach, further enhancing operational resilience. In addition, Alpek developed a Double Materiality Assessment aligned with CSRD, which identifies ESG impacts, risks, and opportunities. This assessment directly informs risk iden- tification, prioritization, and mitigation strategies, ensuring that the most critical ESG-related risks are systematically captured, structured, and managed within Alpek’s overall Risk Man- agement framework, while also supporting preparation for IFRS S1/S2 reporting. Risk Management Process Alpek classifies risks into three categories: Risk Management Strategy & Execution RISK IDENTIFICATION BY BUSINESS UNIT RISK EVALUATION (By impact and probability) RISK AND ACTION PLAN MONITORING RISK PRIORITIZATION AT GLOBAL LEVEL MITIGATION PLAN EXECUTION MITIGATION PLAN DEVELOPMENT   Board Meeting   Audit Committee · Relevant risks are escalated 1 2 3 4 5 6 RISK MANAGEMENT PROCESS Alpek has established and continuously updates a set of processes to identify, monitor, and manage potential risks, considering both short and long-term horizons. Identified risks and corresponding mitiga- tion actions are periodically reviewed in the Audit Committee and escalated to the Board Meetings when necessary. The Company’s risk management framework address- es a broad range of ESG-related risks, including raw material and utilities shortages, legal and regulato- ry challenges related to plastics, and cybersecurity attacks, among others. In parallel, Alpek has been strengthening the integration of climate-related threats with the objective of quantifying potential environmental and social impacts and enabling ef- fective mitigation strategies. Risk management at Alpek is embedded at the business unit level, where directors and operational teams are responsible for identifying and managing risks specific to their activities. This locally-driven approach supports early detection and response, while ensuring consistency through regular oversight at the corporate level. An Audit Committee assesses emerging risks, mon- itors existing ones, and evaluates the effectiveness of mitigation actions, with outcomes reported directly to the CEO. Additionally, the Corporate Audit Director oversees monitoring and auditing practices to vali- date risk management effectiveness. ESG material issues are further reviewed on a quarterly basis by Sustainability Committees. Strategic risks: Internal or external events that may affect busi- ness goals and strategy. Emerging risks: Unprecedent external events with the potential to generate long-term impacts. Climate-related risks: Impacts of climate change on operations, value chain and financial inputs. 1 2 3 NUMBER OF SITES LOCATED IN HIGH-RISK AREAS Main Physical Risks 19 11 9 7 8 5 WILDFIRE RIVER FLOOD CYCLONE COASTAL FLOOD EXTREME HEAT WATER SCARCITY ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 27 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE ABOUT ALPEK ALPEK’S GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW ANNEXES 5 CONSOLIDATED FINANCIAL STATEMENTS ALPEK’S PEOPLE SOCIAL IMPACT 2024 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT 2024 PERFORMANCE 2025 Performance GRI: 2-22, 201-2 CSA S&P: 1.4.4 Strategic Risks Strategy & Execution Alpek’s Top 10 Strategic Risks Identified for 2025 Alpek uses an internal risk portal to consolidate strategic risks identified across its business units. This platform supports the effective management and monitoring of risks as well as their corresponding mitigation actions. The data captured includes the likelihood and potential impact of each risk, the defined mitigation strategies, and the staff member or role responsible of ad- dressing each identified risk. The most significant risks within Alpek’s business units are ranked by their likelihood and impact. The Company regularly reviews and updates its comprehensive strategic risk profile, which typically encompasses 30 to 35 ongoing operational risks. RISK ID AREA RISK RISK DESCRIPTION R1 IT Cyberattack Business disruption due to cybercrimes such as loss of privacy, data theft, and fraud R2 Procurement Dependence on Mexico’s raw material supply Declining production levels in Mexico may limit the availability of feedstock at certain Alpek production sites R3 Operations Delays in permits for raw material imports Delayed permits process with customs authorities for raw material importing R4 Commercial New competition, less margin Global oversupply exerting a downward pressure on prices and margins R5 Commercial Plastic pollution regulation and social pressure Plastic Treaty resolution and new policies to minimize specific plastic usage R6 Procurement Raw material supply chain issues Lack of availability of raw materials, utilities, and other supplies R7 Procurement Dependence on suppliers Dependence on suppliers for raw material, materials and services R8 Environmental Non-compliance with environmental requirements Changes in and increasing stringency of environmental regulations R9 Procurement Dependence on specific transportation suppliers Reliance on a limited number of transportation service providers R10 Comercial Increased competition from new plants Increased regional competition from new plants VERY LOW LOW MODERATE HIGH VERY HIGH IMPROBABLE OCCASIONALLY RARELY POSSIBLE EXPECTED R9 R1 R2 R7 R5 R3 R6 R4 R8 R10 IMPACT PROBABILITY MITIGATION ACTIONS TO STRATEGIC RISKS CAN BE FOUND IN THE SUSTAINABILITY REPORT. Risk Heat Map ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 28 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE GRI: 201-2 CSA S&P: 1.4.2, 2.5.5, 2.5.8 Climate Related Risks Climate-Related Risks Identification Alpek continues to enhance its approach to identifying cli- mate-related risks. In 2025, Alpek performed a Double Ma- teriality Assessment (CSRD-based) and identified its material topics. Under the climate change category, Alpek explores all climate-related risks that could impact its assets. In this context, the Company evaluates the potential impact of each identified risk and estimates the timeframe in which these risks may affect its value chain. The assessment consid- ers three time horizons: short-term (0–2 years), medium-term (3–5 years), and long-term (over 5 years). Identifying climate-related hazards Assessing the vulnerability of assets to those hazards Valuing the risk by quantifying the financial impacts 01 02 03 Climate-Related Risks Analysis For the analysis of climate-related risks, Alpek relies on quan- titative assessments conducted through Climanomics, an S&P Global platform that estimates the financial impacts of cli- mate-related events under various scenarios. This methodology follows a Hazard–Vulnerability–Risk approach, which consists of: 1. Severity of weather events 2. Changing weather and precipitation patterns 3. Rising mean temperatures 4. Rising sea levels 5. Water stress 6. Greenhouse Gas Emissions above limiting regulations 7. Unsuccessful Greenhouse Gas Emissions Management: Long-term and short-term 8. Increased pricing of GHG emissions 9. Enhanced emissions-reporting obligations 10. Mandates on and regulation of existing products and services 11. Exposure to litigation 12. Unsuccessful investments in new technologies 13. Transition to lower emissions technology costs 14. Substitution of existing products and services with lower emissions options 15. Energy Management on operations 16. Product Design for Use-phase Efficiency 17. Changing customer behavior 18. Increased cost of raw materials 19. Shifts in consumer preferences 20. Stigmatization of sector 21. Increased stakeholder concern or negative stakeholder feedback 12 13 14 15 16 17 18 19 20 21 1 2 3 4 5 6 7 8 9 10 11 A C U T E R IS K S C H R O NI C RI S K S P O LI TI C A L RI S K S T E C H N O L O G IC A L RI S K S M A R K E T R IS K S R E P U T A TI O N A L RI S K S PHYSICAL RISKS TRANSITIONAL RISKS Climanomics estimates the direct financial impacts of climate change through the Modeled Average Annual Loss (MAAL) metric, which captures climate-related costs, potential reduc- tions in revenue, and business interruptions associated with climate-related risks. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 29 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE REPRESENTATIVE CONCENTRATION PATHWAY (RCP)   Scientists use the RCPs to model climate change and build scenarios about the impacts Radiative forcing W/m2 Years If we follow the RCP8.5 pathway more wildfires will occur. If we follow the RCP2.6 pathway fewer wildfires will occur. Temperature 2081-2100 Average increase relative to 1986-2005 Extreme weather 2081-2100 Moderate Weather Increase 3.7 °C 1.0 °C Analysis Description The analysis covered 26 regions where Alpek operates production sites and assessed projected impacts over short-, medium-, and long-term horizons. To estimate the scale of potential financial effects, Alpek defined a materi- ality threshold aligned with its current financial materiality framework, distinguishing between material and non-ma- terial risks. Alpek’s climate scenarios are based on IPCC Shared So- cioeconomic Pathways (SSPs), which are standardized narratives used in climate research to explore how global socioeconomic trends could evolve through 2100 and in- fluence greenhouse gas emissions and climate outcomes. SSPs combine assumptions about demographics, economic growth, technological development, energy use, and envi- ronmental policy to generate a range of future pathways. Within this framework, SSP1-2.6 represents a sustainable development trajectory with relatively low emissions; SSP5- 8.5 reflects a high-emissions future driven by fossil-fuel dependence, resulting in significantly higher radiative forc- ing by 2100, and is widely used to model outcomes un- der weak mitigation efforts. These scenarios help provide a consistent basis for comparing future climate impacts across different socioeconomic conditions. Transition Climate Risks Across both climate scenarios, Carbon Pricing emerges as the transition risks that could have a financial material effect in the long term. Physical Climate Risks Physical risks refer to the financial and operational challenges that may arise from the increas- ing frequency and severity of climate-related hazards. These risks stem from extreme weather events, long-term shifts in climate patterns, and the exposure of assets and operations to such changes. In this assessment, Alpek evaluated all physical risks under the SSP1-2.6 and SSP5-8.5 sce- narios. Among these, Extreme Heat, Drought, and Water Stress were identified as having a ma- terial financial impact in the long term, while only Extreme Heat and Drought were considered material in the medium term. Alpek will closely monitor both transition and physical risks and explore adaptive measures to mitigate potential financial and operational impacts. 0 1 2 3 4 5 6 7 2000 2025 2050 2075 2100 SSP1 – 2.6 Aggressive mitigation scenario Net Zero Emissions by 2050 Global average temperature rising by 1.3 – 2.4°C by 2100 Aligned with Paris Agreement SSP5 – 8.5 Low mitigation scenario Emissions tripled by 2075 Global average temperature rising by 3.3 – 5.7°C by 2100 Aligned with business-as-usual projections Carbon Pricing Implement emerging policies and regulations that impose a carbon pricing mechanisms. Litigation Face increasing costs to defend against climate- related legal proceedings. Market Adapt to the impacts of the transition to a lower-carbon economy, affecting supply and demand for products. Reputation Manage the perception of an organization’s environmental impact. Technology Address the financial implications of transitioning to a lower-carbon economy through technological advancements. Transition risks refer to financial and operational challenges that may arise as the global econ- omy shifts toward lower carbon intensity. These stem from evolving policies, regulatory require- ments, market conditions, technological change, and growing expectations from stakeholders to address climate change. In this assessment, Alpek evaluated the following transition risk categories under the SSP1-2.6 and SSP5-8.5 scenarios: RCP8.5 RCP2.6 ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 30 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE GRI: 2-23, 2-24 TCFD: Governance, Strategy & Risk Management Operative Framework ESG As part of Alpek’s ESG Risk Management framework, the Company has adopted a dynamic materiality ap- proach through which it conducts a comprehensive analysis of ESG and industry-related trends, as well as their relevance from a stakeholder perspective. This process is supported by ongoing dialogue with stakeholders, enabling Alpek to respond effectively to their expectations and requirements while pro- actively managing potential impacts on the orga- nization. Identify ESG Risks & Opportunities (R&Os) Implement a dynamic materiality analysis Integrate ESG R&Os into its business risk management strategy Determine the extent of change required to achieve best-in-class standards Deploy appropriate initiatives to address R&Os Build and enhance internal capabilities to react quickly Identify and establish partnerships that enable ongoing performance enhancement Define key performance indicators (KPIs) and set targets to track the success of each initiative Measure and evaluate the impact of results achieved Establish appropriate initiatives to ensure targets are met Assign appropriate roles and responsibilities for decision-making Establish mechanisms to ensure targets are achieved Communicate and report progress at the organizational level Review performance and implement continuous improvements ESG Risk Identification and Analysis Strategy and Execution Targets and Metrics Commitment and Oversight ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 31 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Materiality GRI: 2-29, 3-1 TCFD: Governance, Strategy, Risk Management CSA S&P: 1.3, 1.3.1 In 2025, Alpek conducted a double materiality analysis (DMA) to prepare for the upcoming disclosure requirements under the Corporate Sustainability Reporting Directive (CSRD). This analysis identifies which topical disclosure re- quirements need to be communicated. Double materiality considers both impact and financial materiality. A topic is considered material when it either reflects significant environmental or social impacts or generates, or has the potential to generate, material financial effects. The assessment aims to identify, understand, and prioritize the material Environmental, So- cial, and Governance (ESG) impacts, risks, and opportunities (IROs) relevant to Alpek. To achieve this, the Company gathered input from internal and external stakeholders, as well as proxy sources, regarding key sustainability top- ics and their associated actual and potential IROs. The results of the double materiality anal- ysis provide a foundation for strategic planning and decision-making related to managing the most material sustainability topics and their corresponding IROs. This double materiality assessment was con- ducted collaboratively by Alpek and a third-party global sustainability consulting firm with over 50 years of experience. The process includ- ed identifying and classifying key stakeholder groups, both internal and external, to gain a deeper understanding of actual and potential negative impacts, as well as related risks and opportunities. IROs were then identified and categorized. Each risk and opportunity was eval- uated based on the likelihood of occurrence and the magnitude of associated financial ef- fects. Material IROs are those that exceed a reasonable threshold of severity and likelihood for impacts, or significance and likelihood for financial risks and opportunities. After performing the DMA, 20 sustainable top- ics were identified with varying levels of impact and financial materiality. Assess Current State Evaluate Impacts, Risks, and Opportunities Engage Stakeholders Prioritize and Align Topics 1 2 3 4 Review the Company’s sustainability data and documentation Identify and map relevant internal and external stakeholders Confirm and score IROs based on impact and financial materiality Outline potential Impacts, Risks, and Opportunities (IROs) Gather insights through interviews and surveys with stakeholders Summarize and analyze feedback Determine which IROs are material and link them to ESRS topics Integrate findings into corporate strategy and risk management Double Materiality Assessment Process ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 32 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Materiality Matrix GRI: 3-2 TCFD: Governance, Strategy, Risk Management CSA S&P: 1.3 Environment 1 Climate Change 2 Energy 3 Microplastics 4 Pollution of Soil 5 Pollution of Air 6 Pollution of Water 7 Substances of Very High Concern 8 Water Use / Consumption 9 Biodiversity Impacts 10 Resource Outflows Related to Products 11 Resource Inflows Including Resource Use 12 Waste Social 13 Working Conditions 14 Equal Treatment and Working Opportunities 15 Affected Communities Information Related to Impacts for Consumers Governance 17 Supply Chain Management 18 Cybersecurity 19 Corruption and Bribery 20 Business Conduct Low Financial Materiality High 15 3 4 6 12 14 17 18 9 7 20 11 5 10 2 19 8 13 1 16 Low Impact Materiality High E S G 16 ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 33 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE LEAD WITH EMPATHY Alpek empowers its people and engages with stakeholders to foster safe workplaces, respect human rights, and contribute positively to communities. • Working Conditions • Equal Treatment and Working Opportunities • Affected Communities GROW RESPONSIBLY Alpek strives to continue growing sustainably, minimizing environmental impacts from its operations and products while promoting efficient resource use and circularity. • Climate Change & Energy • Water • Circularity • Waste & Substances of Very High Concern • Biodiversity • Microplastics & Pollution UPHOLD HIGHEST STANDARDS Alpek is committed to conducting business with integrity, strengthening governance practices, and ensuring transparency, accountability, and ethical behavior across its operations and value chain. • Cybersecurity • Corruption and Bribery • Business Conduct EMBRACE CHANGE Alpek actively monitors its changing environment, strengthens relationships across the value chain, and develops solutions that address emerging risks and stakeholder expectations. • Information Related to Impacts for Consumers • Supply Chain Management ESG Model GRI: 2-23, 2-24 TCFD: Governance, Strategy Alpek’s ESG model is an internal platform de- signed to deploy programs and initiatives that support the tracking and development of its en- vironmental, social, and governance objectives. The model promotes cross-functional partici- pation across all levels of the organization and reinforces a shared commitment to economic growth, stakeholder development, social equity and environmental protection. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 34 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Corporate Policies GRI: 2-23 CSA S&P: 1.4.2, 1.7.1, 1.8.1, 2.2,2. 3.4 As part of Alpek’s risk management processes, the Company has developed and published policies and initiatives that support compliance with its ESG strategy across operations. CLICK ON EACH FIGURE TO VISIT THE POLICY. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 35 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Code of Conduct GRI: 2-23 CSA S&P: 1.5.2 Alpek maintains a Code of Conduct applicable to all employees, suppliers, and third parties involved in its operations. The Code establishes the Company’s core values, ethical standards, and expected behaviors, serving as a foundation for responsible and lawful business conduct. The Code addresses key topics such as anti-corruption prac- tices, conflicts of interest, protection of proprietary information and intellectual property, human rights, environmental protec- tion, community relations, and occupational health and safety. All of Alpek’s operations are conducted within a framework of legality, respect for human rights, and ethical conduct. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS 36 MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE Cybersecurity TCFD: Risk Management CSA S&P: 1.9.1, 1.9.3 Strategy & Execution As cybersecurity challenges continue to evolve, Alpek acknowledges the im- portance and strategic priority of this material topic. Alpek’s strategy involves a plan to protect the organization’s criti- cal assets, aligned with business objec- tives, combining technology (tools and solutions), processes (policies and con- trols), people (training and awareness), and data (classification and protection) to ensure the confidentiality, integrity, availability, and resilience of information against threats. In addition, Alpek has an IT Strategic Committee responsible for addressing cybersecurity matters where Top Management is included and is led by the Chief Information Security Officer (CISO). Main Capabilities Cyber Resilience & Risk Management Strengthening cyber resilience through the evo- lution toward a more agile and adaptive cyber- security model, supported by a continuous im- provement approach that enhances prevention, detection, response, and recovery capabilities. This approach is reinforced by ongoing vulnera- bility assessments, risk prioritization, and attack surface reduction initiatives to ensure opera- tional continuity. Internal and External Audits Continuous strengthening of internal and external audit processes to ensure compliance with cor- porate policies and regulatory requirements and to confirm alignment with international standards and the effectiveness of governance practices. Awareness, Training, and Employee Engagement Enhances its cybersecurity awareness and training program by deploying educational cam- paigns, including videos and newsletters, and by conducting phishing simulations across all business units to reinforce employee awareness and compliance. 2025 Results During the reporting period, no material cyberse- curity incidents were identified or reported that could have impacted the confidentiality, integrity, or availability of the information. ALPEK’S CYBERSECURITY FRAMEWORK IDENTIFY PROTECT RECOVER RESPOND DETECT Alpek states its commitment to safe- guarding the confidentiality, integrity, and availability of its information assets through its Information Security Poli- cy and international frameworks (ISO, COBIT, ISA, NIST), which applies to its stakeholders. ABOUT ALPEK NATURAL CAPITAL FINANCIAL REVIEW 37 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR GOVERNANCE 06 Alpek’s People ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 38 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT ALPEK’S GOVERNANCE OUR PEOPLE Alpek’s Team GRI: 401-2, 404-2 CSA S&P: 3.3.2, 3.3.8 Employee Development Programs Employee development is a core element of Alpek’s corporate culture. The Company is committed to offering structured pro- grams and initiatives that continuously strengthen workforce capabilities, supporting a culture of learning, growth, and in- novation. Over the course of the year, more than (#) employees bene- fited from these programs. Performance Appraisal Performance evaluation is a key component of Alpek’s approach to workforce development and effectiveness. The Company applies different performance appraisal methodologies across business units and employee levels to ensure consistent and meaningful assessments that support professional growth and align individual performance with Alpek’s strategic objectives. Performance evaluations are conducted at least annually for executive management and management positions. How Does it Work at Alpek? Management by Objectives 360° Feedback Leadership and Project Management Capacity Building During 2025, Alpek delivered multiple training programs across its business units focused on strengthening leadership, team communication, and project management skills, while also reinforcing organizational culture and support- ing employees in adapting to new digital tools, processes, and technologies. Training related to digital transformation reached 1,580 participants, helping employees strengthen capabilities needed in an increasingly digital workplace. In addition, 1,739 employees participated in culture-focused training, covering topics such as integrity, open and authentic communication as well as other behaviors that promote a collaborative and respectful work environment. The Company also continued to support employees’ academic development through scholarship programs for professional certifications, diplomas, and master’s degrees, benefiting 21 employees during the year. These initiatives contributed to the professional development of employees and supported overall organizational effectiveness. Management by Objectives: Each year, executive management and employees jointly define objectives aligned with departmental goals and the Company’s overall strategy. 360° Feedback: Alpek’s 360° feedback progress gathers confidential input from supervisors, peers, and direct reports, offering a well-rounded view of performance as well as helping identify strengths and opportunities for improvement. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 39 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE Quality of Life GRI: 401-2 CSA S&P: 3.3.7, 3.3.9 Strategy and Execution Alpek is committed to fostering a supportive and inclusive work envi- ronment that enhances employee well-being and professional devel- opment. To support this objective, the Company implements a range of programs and policies aimed at strengthening work-life balance and enabling long-term career growth. Key Initiatives Flexible Work Arrangements, including remote work, part-time roles, and adaptable schedules. Paid Parental Leave is provided to all employees, including in countries where such benefits are not legally mandated. Female employees are entitled to between 4 and 24 weeks of paid leave, while male employees receive between 5 days and 5 weeks, depending on local regulations. Dedicated Lactation Rooms and related support are available to promote a family-friendly workplace. OrientaMe Program offers access to professional therapy, personalized nutrition guidance, and financial and tax advisory services. Through these initiatives, along with additional benefits, Alpek con- tinues to foster a workplace culture focused on employee well-being, engagement, and long-term success. Progress 2025 In 2025, Alpek continued implementing its customized employee engagement survey to enhance the qual- ity and relevance of workforce insights. The survey was conducted across operations in nine countries and captured the perspectives of more than 4,800 employees. It assessed topics such as happiness, stress, energy levels, purpose, job satisfaction, and work-life balance, addressing key aspects of employ- ee well-being. Following an 86% response rate in 2024, partici- pation increased to 93%, reflecting even stronger employee engagement. Engagement High levels of commitment and loyalty, reflect- ed in employees’ willingness to go above and beyond. Enablement Placing the right people in the right roles to foster a productive and high-performing work environment. 93% response rate Most Effective Detached Frustrated Least Effective High Performance Model High Performance Components ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 40 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE GRI: 405-11 to 2 CSA S&P: 3.1.3 Diversity, Equity and Inclusion (DEI) Strategy & Execution Alpek recognizes that diversity in gender, cultural backgrounds, and perspec- tives across all levels of the organization, combined with an inclusive work environment, strengthens innovation, creativity, and decision-making. To sup- port this objective, the Company promotes inclusive recruitment practices, development programs focused on underrepresented groups, and DEI training initiatives aimed at building a more diverse workforce. Progress 2025 Alpek continued strengthening its commitment to diversity, equity and inclusion by advancing leadership development and capacity-building initiatives aimed at fostering a more inclusive workplace. During the year, the Company launched a Global Women’s Development Program that brought together 30 women in executive positions from all of Alpek’s business units. The program lasted 10 months and included monthly webinars, as well as six months of coaching. Its content addressed the seven key hurdles women face in the workplace, creating a shared space to learn and reflect across regions. Throughout 2025, training on the basic concepts of diversity, equity, inclusion, and unconscious bias was cascaded across the organization, successfully reaching employees at multiple levels. All business units achieved participation rates above 85% of their respective employee populations, marking a significant milestone in fostering an inclusive environment across Alpek. These initiatives reflect Alpek’s ongoing efforts to advance cultural trans- formation and leadership development across the organization. We embrace women’s contributions to our organization and society, acknowledging that equality is everyone’s responsibility. Alpek will further diversify its workforce through strategic hiring, retention, and organizational development. Our success relies on innovation that comes from having different strengths perspectives, and experiences.” Gender Diversity 2025 4,150 men women 997 81% 19% 21% of Management positions are held by women Note: Management positions include roles from Junior Management to Executive level. Hispanic or Latino African American Indigenous or Native American White Asian Other races JORGE YOUNG ALPEK CEO Race Diversity 2025 % of Alpek´s Workforce 50% 29% 14% 4% 2% 1% Note: Races classified according to S&P CSA report. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 41 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE Occupational Safety GRI: 403-1, 403-5, 403-9 SASB: RT-CH 320A.1 CSA S&P: 3.4 Strategy & Execution Alpek continues to invest in maintaining a safe and healthy work environment for all its employees and contractors. Each facility operates under a Health and Safety Management System aligned with inter- national standards and local regulations, supporting continuous improvement in occupational safety performance. Progress 2025 During 2025, 12 sites achieved zero recordable incidents. By the end of the year, a total of 39 initiatives were carried out to boost health and safety in operations. Additionally, Alpek conducted 1,328 safety-related training programs, totaling more than 62,128 hours of training. Among the most relevant courses, based on training hours, were emergency response and firefighting training, regulatory safety programs (NR-5, NR-13 and NOM-035), and safe operation and certification of industrial vehicles, including forklifts. Safety is a top priority for Alpek. As a result of the trainings and initiatives implemented across the Company, safety performance improved in 2025, with a decrease in incident rates (TRIR and LTIR). This improvement reflects Alpek’s continued commitment to protecting its workforce and fostering a safer working environment. 1,367 initiatives and training programs were rolled out across operations, addressing areas such as safety, facility upgrades, and equipment modifications. Recordable Incidents Lost-Time Incidents 2023 2023 2024 2024 2025 2025 47 0.42 0.51 0.47 0.27 0.35 0.30 49 45 30 34 29 Total Recordable Incidents Rate (TRIR) Lost-Time Incidents Rate (LTIR) RECORDABLE INCIDENTS | TRIR (NUMBER OF CASES | CASES PER 200,000 MAN-HOURS) LOST TIME INCIDENTS | LTIR (NUMBER OF CASES | CASES PER 200,000 MAN-HOURS) ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 42 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE Human Rights GRI: 2-23, 2-24, 2-25 CSA S&P: 1.5.4, 3.2.1, 3.2.2, 2.2.4 Strategy & Execution Alpek is committed to respecting and promoting internationally recognized human rights across its operations, value chain, and communities. This commitment is embedded in the Com- pany’s Code of Ethics and Human Rights Policy, which guide business conduct and decision-making. The Company embeds ethical principles throughout its corporate culture and applies a robust due diligence process to address any potential human rights violations. Through Alpek’s internal audit process, human rights assessments are conducted periodically to identify potential risks and improve- ment areas. Audit cycles typically cover all sites every 2 to 3 years, with follow-up actions and improvement plans defined as needed to strengthen compliance and performance. Human rights due diligence is conducted across business units, considering key aspects such as: Employment is freely chosen Safe and hygienic working conditions Prohibition of child labor Payment of living wages Reasonable working hours Non-discrimination Prohibition of harassment and inhumane treatment Progress 2025 Following the spin-off, Alpek developed its own transparency line to enable the reporting of any misconduct. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 43 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE Human Rights GRI: 2-23, 2-24, 2-25, 2-26 MESSAGE CLASSIFICATION ANALYSIS AND ASSIGNMENT RESOLUTION CASE EVALUATION MEETING REPORT TO AUDIT COMMITTEE 1. Complaint Filing 2. Complaint Information gathering 3. Investigation and resolution EMAIL transparency@alpek.com TELEPHONES 1-800 WEB FORM https://www.alpek.com/transparency-helpline/ IDENTIFIABLE ANONYMOUS Since 2021, Alpek has been a signatory of the United Nations Global Compact, reaffirming its commitment to respect and promote internationally recognized human rights. To ensure adherence, Alpek has implemented a comprehensive Human Rights Due Diligence framework, which includes clear report- ing channels, defined investigation procedures, and effective remediation processes. Human rights-related concerns and potential violations can be reported through the Integrity and Transparency Helpline, en- suring prompt review and appropriate follow-up. This approach reflects Alpek’s ongoing commitment to fostering a workplace and value chain that respects dignity, fairness, and ethical conduct. All of Alpek’s sites are governed by this Due Diligence Pro- cess Internal Audit Team conducts the investigation and analysis of reported cases Depending on the nature of the complaint, additional Com- pany personnel may be involved Any violation or non-compliance with the Code of Ethics or Human Rights Policy may result in disciplinary action, up to and including termination of employment 1. Complaint Filing Telephone Reporting Channels 2. Complaint Information Gathering 3. Investigation and Resolution COUNTRY Argentina Brazil Chile Canada United Kingdom PHONE 0800-444-5685 0800-892-2016 123-00200179 1-866-238-2860 0800-031-5389 Mexico United States Oman U.A.E Saudi Arabia . 8111348760 1-833-6485493 800-30700 800-62825 800-1111-500 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 44 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT OUR PEOPLE 07 Social Impact ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 45 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT Supporting Communities GRI: 201-1, 413-1 CSA S&P: 3.6.2 Progress 2025 As part of its “Lead with Empathy” approach, Alpek continued strengthening its engagement with local communities through initiatives focused on education, environmental awareness, social welfare, and health. Supporting Education and Youth Development: Alpek pro- moted education through scholarships for students, partnerships with universities and technical institutions, participation in job fairs and academic events, and support for school infrastructure, including the construction and improvement of classrooms and educational spaces. The Company also contributed to student development by sponsoring academic activities, conferences, and internship programs, and by engaging with schools through site visits and career talks. Promoting Environmental Awareness and Action: Environ- mental stewardship remained a priority in 2025. Alpek organized and supported recycling campaigns, awareness talks in schools, PET and plastic collection drives, and initiatives such as bottle-ex- change programs and environmental education activities. Employ- ees and volunteers participated in reforestation projects, river and beach clean-ups, and community campaigns to promote recycling and responsible waste management. Enhancing Social Welfare and Community Support: Alpek contributed to improving quality of life in surrounding communities through donations of food, clothing, toys, blankets, computers, wheelchairs, and other essential goods, as well as support for vulnerable populations, including children, the elderly, and families affected by natural disasters or economic hardship. The Company also supported charitable organizations, community shelters, and social development programs, including initiatives aimed at people with disabilities and low-income families. Supporting Health and Safety Initiatives: The Company sup- ported healthcare and well-being by contributing medical equip- ment to hospitals, sponsoring health awareness campaigns, sup- porting cancer-related initiatives, and promoting preventive health activities. Additional efforts included campaigns to raise awareness of occupational health, ergonomics, and disease prevention, as well as support for community safety and emergency prepared- ness initiatives. Encouraging Community Engagement: Alpek sponsored and participated in local sports tournaments, youth championships, cultural festivals, and community events that promote inclusion, healthy lifestyles, and social integration. Employees also took part in volunteer activities such as preparing meals for vulnerable populations, fundraising initiatives, and holiday donation drives. Strategy & Execution Supporting local communities is a key com- ponent of Alpek’s strategy and is carried out through initiatives focused on educa- tion, environmental awareness, social wel- fare, and health, reflecting the needs and context of the communities in which the Company operates. Through these efforts, Alpek contributes to strengthening social well-being while advancing the “Lead with Empathy” pillar of its sustainability model. +$260,000 USD in donations (cash & in-kind, etc.) +32,700 people benefited +2,300 employees and external volunteers ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 46 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT Alpek’s Value Chains Alpek’s products are used by millions of people daily, in a wide variety of applications. OIL NAPHTHA REFORMER PARAXYLENE EPS POLYPROPYLENE ETHYLENE OXIDE MONOETHYLENE GLYCOL BENZENE PENTANE PTA NAPHTHA PROPYLENE ETHYLENE ETHANE from natural gas OIL PROPANE REFINERY REFINERY PDH CRACKER THERMOFORM PACKAGING rPET SHEET rPET FLAKE rPET PELLET PET SHEET PET CRACKER STYRENE ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 47 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT Value Chain GRI: 2-6, 308-1 CSA S&P: 1.7 Strategy & Execution Alpek recognizes that realizing its sustainability vision and stra- tegic objectives requires aligning its core values through close collaboration across the value chain, particularly with suppliers and customers. To promote a sustainable value chain, the Company has, in re- cent years, engaged with customers on sustainability initiatives, including innovation projects aimed at reducing the environmen- tal impact of products and processes. In line with evolving best practices in sustainable supply chain management, Alpek is committed to strengthening supplier relationships that adhere to the highest ethical, social, and environmental standards. Supplier Screening Results In 2025, Alpek maintains a network of over 2,250 Tier-1 suppliers, with more than 450 classified as critical. Due to the extensive supplier base, the initial screening process, conducted for the first time in 2024, focused on 17 key suppliers across three SASB industries: Oil & Gas – Exploration & Production Oil & Gas – Refining & Marketing Chemicals The screening revealed that 3 of the 17 key suppliers did not meet industry thresholds and were designated as suppliers requiring enhanced engagement for Alpek. This phase provided a broad understanding of the sustainability progress among Alpek’s key suppliers. Moving forward, Alpek aims to refine its methodology, expand supplier coverage, and gather more detailed data to better un- derstand supply chain risks and align with its sustainability goals. Supplier Screening Process Alpek’s supplier screening methodology is tailored to industry-specific standards, aiming to effectively identify and mitigate supply chain risks while promoting sustain- ability throughout its operations. The process includes the following steps: Identify the industries of Alpek’s suppliers using the Sustainable Accounting Standards Board’s (SASB) industry classification standards. Compile a comprehensive list of ESG indicators recommended by SASB for each industry to measure performance and progress. Select a subset of industry- specific ESG indicators to serve as thresholds, ensuring standardized comparability and risk identification. Establish minimum requirements for each ESG pillar (Environmental, Social and Governance). Further assess suppliers that do not meet at least one industry- specific threshold. This assessment, combined with the supplier’s business relevance, determines their significance and identifies major ESG risk aspects. Supplier Industry Mapping SASB KPIs Identification Significant Supplier Threshold Risk Level Assessment 01 02 03 04 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 48 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT Supply Chain Management GRI: 308-1 CSA S&P: 1.7.1, 1.7.2, 1.7.3, 1.7.4, .1.7.5, 1.7.6 Progress 2025 In recent years, Alpek conducted a comprehensive review of its Scope 3 emissions, which revealed that more than 50% are associated with Purchased Goods and Services and the Pro- cessing of Sold Products. These emissions are directly linked to the activities of Alpek’s suppliers and customers, respectively. As a result, Alpek has focused its efforts on addressing these key areas. On the supplier side, the Company has been identi- fying its main suppliers and learning about their decarboniza- tion plans, as well as their offerings of alternative low-carbon raw materials. On the customer side, Alpek aims, over the long term, to expand its customer base while encouraging stronger sustainability commitments. Looking ahead, Alpek seeks to enhance the collection of ac- curate, firsthand data from its value chain through targeted surveys. During the year, the Company implemented specialized ESG software that will enable the deployment and management of these surveys, further strengthening its sustainability efforts. During 2025, Alpek introduced big bags made with recycled content at one of its sites in Altamira through an initiative developed in coordination with its supplier. This initiative supports the reduction of virgin material use, promotes circularity within the supply chain, and contributes to lowering the Company’s overall environmental footprint. By incorpo- rating recycled materials into its packaging solutions, Alpek also strengthens supplier col- laboration and advances its broader sustain- ability objectives. 89% was the average satisfaction rate achieved in customer satisfaction assessments conducted by Alpek’s business units. Supplier Code of Conduct These surveys assess overall satisfaction, product quality, customer service, supply reliability, and other relevant performance aspects. Alpek is dedicated to conducting business with the highest standards of integrity, ethics, and sustainability. The Company’s Supplier Code of Conduct sets clear expectations for all suppliers to uphold these principles, including compliance with applicable laws, an- ti-corruption measures, fair labor practices, and environmental responsibility. Alpek also encourages suppliers to respect human rights, ensure health and safety, and maintain confidentiality. In line with its commitment to social responsibility, the Company invites customers and partners to join in fostering a culture of transparency and ethical business practices, collaboratively building a more sustainable and responsible future. Note: The customer satisfaction assessment incorporates survey results from 2025 and 2024 and reflect responses from five of the six main business units. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 49 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT FOR MORE INFORMATION, CLICK HERE TO ACCESS: ALPEK’S SUPPLIER CODE OF CONDUCT POLICY 08 Natural Capital ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 50 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT SOCIAL IMPACT NATURAL CAPITAL Climate Change GRI: 305-5 TCFD: Targets and Metrics SASB: RT-CH-110A.2 CSA S&P: 2.5.12 Strategy & Execution In pursuit of its 2030 SBTi goal, Alpek has made significant progress, while steadfastly maintaining its long-term ambition of achieving carbon neutrality by 2050. In 2023, Alpek initiated the development of its Net Zero roadmap through a comprehensive review of global decarbonization technologies and approaches. This analysis identified the facilities contributing the most to Alpek’s Scope 1 and 2 emissions, representing over 90% of the total. Three key decarbonization pathways emerged as having the greatest potential: Electrification Renewable Energy Carbon Capture, Utilization, and Storage (CCUS) Progress 2025 Building upon this foundation, in the initial assess- ment phase, site visits were conducted at the most strategic locations, culminating in the development of detailed decarbonization plans for each. In 2025, these efforts advanced further, resulting in the consolidation of investment estimates and detailed reviews with each site. Research efforts were also expanded to provide a holistic overview of progress. Furthermore, the results confirmed that achiev- ing long‑term Net Zero goals will require contin- ued energy‑efficiency improvements, accelerated clean‑energy adoption, strategic electrification, and the evaluation of CCUS as the key pathway for addressing residual thermal and process emis- sions, supported by ongoing technology surveil- lance for viable solutions. Looking ahead, robust monitoring mechanisms and a governance model will be designed and implemented by Sustainability and Innovation to track roadmap execution at each site. In addition, emerging regulations and incentive opportunities across key markets will be mapped and integrated into the strategy to assess the feasibility of lever- aging these opportunities. Other disruptive technologies Offsetting Carbon-free energy Optimization* Electrification Remaining emissions Total emissions 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2% 20% 20% 22% 2% 27% 7% 2019 2022 2030 2035 2040 2045 2050 * Optimization considers process and site portfolio optimization. SBTi Target 27.5% S1&2 reduction by 2030 This model represents an ideal scenario based on different criteria, including carbon pricing projections, a 2030-2050 implementation horizon, CCUS deployment primarily at U.S. sites, and a progressive transition to clean energy CCU/CCS* ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 51 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Climate Change CSA S&P: 2.5.13 Internal Carbon Pricing Alpek continues to explore the implementation of an Internal Carbon Pricing (ICP) system to align its operations with carbon emissions reduction goals. As part of this effort, the Company is evaluating the potential adaptation of its Investment Review Process to incorporate the impact of carbon emissions. Carbon Tax Costs Incurred in 2025 During 2025, the Company paid an average of approximately $10 USD per ton of CO2e in regions where carbon taxes apply. Application of Internal Carbon Pricing in Investment Decisions In 2025, within the Mexico region, Alpek has been assessing a strategic initiative aimed at reducing energy consumption, factoring projected CO2 emissions reductions into the project’s evaluation. A shadow carbon price is used, ranging from $6.7 USD to $17.9 USD per ton of CO2e, depending on the applica- ble project year. This initiative aims to integrate Alpek’s sustainability strategy with its corporate objectives. Potential Investment Review Process CURRENT PROCESS ADDITIONAL STEPS Generate investment ideas by subsidiaries Definition of the potential benefits and/or additional costs Identify if there is a decrease or increase in energy consumption Assess economic viability Calculate & add carbon emission impact Present CAPEX to Top Management Request formal approval Track approved projects that impact Alpek’s CO2 emissions ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 52 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT Energy&Emissions GRI: 302-1, 302-3, 302-4, 305-1, 305-2, 305-4, 305-5 TCFD: All elements SASB: RT-CH-110a.1, RT-CH-110a.2 CSA S&P: 2.2, 2.2.1 Strategy & Execution Since 2022, Alpek’s decarbonization commitments for 2030 have been approved by the Science Based Targets initiative (SBTi). In recent years, the Company has been advancing initiatives focused on reducing its carbon footprint, optimizing its asset footprint, and improving energy performance. Transition to Low- or Zero-Emission Energy Sources: Alpek has been increasing the use of energy alternatives with minimal or zero carbon emissions, including nuclear and solar energy. Energy Efficiency Improvements: Alpek has been enhancing energy efficiency through measures such as adopting more efficient equipment, electrifying processes, and optimizing thermal energy use across operations. Asset Footprint Optimization: Alpek has been optimizing its operational footprint by consolidating resources and modernizing facilities to reduce overall environmental impact. OUR TARGET “Alpek commits to reduce absolute scope 1 and 2 GHG emissions by 27.5% by 2030 from a 2019 base year. Alpek also commits to reduce scope 3 emissions by 13.5% within the same time frame” Notes: 1. The emission figures provided adhere to SBTi criteria, with emissions from all acquired plants in- cluded, regardless of the year of acquisition. 2. The energy consumption figures accurately reflect actual energy use, taking into account the dates of acquisitions. 3. Low-carbon Electricity is calculated considering the consumption of nuclear and renewable energy, along with purchased Renewable Energy Certificates (RECs). Progress 2025 In 2025, Alpek achieved a 1% reduction in total Scope 1 and Scope 2 CO2e emissions compared to 2024. This progress was driven by targeted initiatives, in particular the elec- trification of diesel generators carried out by the polyester unit in Riyadh. Alpek continued procuring nuclear energy at two sites in Mexico and International Renew- able Energy Certificates (IRECs) for selected facilities in Chile, Argentina, Mexico, and Brazil. Additionally, Alpek provides comprehensive training programs to strengthen employee capabilities across energy management and operational efficiency. During the year, train- ing initiatives covered topics such as energy conservation, thermal system operations and optimization, motor efficiency, and renewable energy generation. Meanwhile, Alpek’s operation teams continuously drive improvements in energy optimization, reliability, and operational efficiency through targeted capital and infrastructure projects. Key initiatives include turbine blade replacements, heat exchanger upgrades and replacements. Alpek has already surpassed its SBTi 2030 target of a 27.5% reduction in Scope 1 and 2 emissions. The Company is now evaluating adherence to the 1.5°C climate pathway for its future emissions reduction strategy. ADDITIONAL AND DETAILED INFORMATION FOR 2025 CAN BE FOUND IN ALPEK’S 2025 SUSTAINABILITY REPORT 1.9 1.1 0.8 1.8 1.0 0.8 2025 2024 2023 2.0 1.2 0.8 2019 SBTi Base 1.4 2.8 1.4 0.4 0.3 0.3 Scope 1 Scope 2 Natural gas Steam Electricity Other Fuels CO2 Emissions Intensity: (Ton CO2 /Ton Produced) Energy Consumption Intensity (GJ/Ton Produced) 0.6 27 2025 2024 28 10 10 11 10 2023 10 7 6 6 29 12 5 5 5 OVERALL CO2 EMISSIONS (SBTi S1&2) OVERALL ENERGY CONSUMPTION X 106 GJ 25.8% Low-Carbon Electricity (% of total electricity) ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 53 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Waste Management GRI: 301-3, 306-1, 306-2, 306-3 TCFD: Governance SASB: RT-CH-150a.1 CSA S&P: 2.3 Strategy & Execution Alpek continues to advance circular economy prac- tices and responsible waste management through- out its operations. Through its recycling facilities, the Company contributes to reducing overall envi- ronmental impact compared to scenarios in which purchased PET bottles are disposed of in landfills. As Alpek progresses on its strategic priorities, it remains focused on exploring solutions to decrease landfill disposal, enhance packaging material reuse, and reduce off-spec production. Progress 2025 In 2025, approximately 3.2% of Alpek’s to- tal waste was classified as hazardous and therefore required controlled handling and containment. About 22.6% of the waste generated was recycled, reused, or commercially recovered. In addition, 40.9% of the Company’s total waste generation originated directly from its recycling op-erations. Over the year, Alpek began cleaning and preparing a designated area for the con- struction of a hazardous materials and waste storage facility equipped with dedi- cated waste classification cells in Altami- ra. This project supports improved seg- regation, handling, and control of waste streams at the site. In parallel, the Company continued ex- ploring initiatives aimed at reducing the volume of waste requiring final disposal. These efforts included projects such as redirecting certain by-product streams to enable material recovery and their reuse where feasible. +840 participants in waste management and handling trainings. OUR TARGET “Alpek will generate a waste diversion plan by 2028, focusing on sites generating ~90% of landfill waste, using 2023 as the baseline.” Progress During 2025, the Company conducted working sessions to better understand site-level waste management practices, assess current conditions, identify potential diversion opportunities, and prepare a waste diversion plan for each site. 79 61 2025 2024 98 75 2023 31 23 18 110 79 WASTE GENERATION (Thousand Tons) Disposed Recycled Generated Waste Productive Waste 79 19 9 51 Controlled Landfill Internal Productive Waste External Productive Waste 106 125 +146% PRODUCTIVE WASTE OVER LANDFILL RATIO 2.5 Productive Waste refers to waste that is utilized or repur- posed in a manner that contributes to productive activities or generates value. Internal Productive Waste includes waste that is reused, recycled, or otherwise directed towards energy generation within the Company’s operations. External Productive Waste includes the volume of PET bales entering the Company’s recycling facilities, net of the volume sent to landfill from those sites. 19 2025 GENERATED VS. PRODUCTIVE WASTE (Thousand Tons) ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 54 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Biodiversity GRI: 101-2, 101-4, 101-5, 101-6, 101-7 CSA S&P: 2.6.1 Strategy & Execution Alpek acknowledges the vital importance of biodiversity for business continuity and for managing oper- ational and reputational risks. To address these concerns, the Company carries out a Biodiversity Risk Assessment (BRA) using the WWF Biodiversity Risk Framework (BRF). This framework assesses both physical and reputational risks by assigning numeric scores to operational sites, taking into account industry-specific vulnerabilities and geographic factors. This proactive strategy helps Alpek recognize high-risk locations and embed biodiversity considerations into its risk management practices. Progress 2025 In 2025, Alpek continued reviewing its Biodiversity Risk Assessment (BRA). The initial BRA focused on Alpek’s operational sites and surrounding areas, in line with the BRF classification for the “Chemicals and Other Materials Production” industry. The assessment identified sites with elevated biodiversity risks. These risks reflect potential operational disruptions due to environmental dependencies, while stakeholder attention underscores the importance of managing biodiversity impacts. Key find- ings showed that, out of Alpek’s global operations, only two sites were in the upper range of the vulnerability scale. Looking ahead, Alpek will explore approaches to manage biodiversity risks and enhance envi- ronmental stewardship at key sites. 01 02 03 04 BRF methodology follows the approach showed below Scoping the Assessment Data Collection Risk Assessment Risk Aggregation Identified industry materiality and explored biodiversity importance and integrity. Gathered location-specific operational data. Evaluated biodiversity- related physical and reputational risks. Consolidated site-level risk scores to determine company-wide exposure. ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 55 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Water Management GRI: 303-1, 303-2, 303-3 CSA S&P: 2.4.1 , 2.4.3, 2.4.5, 2.4.6 SASB: RT-CH-140a.1, RT-CH-140a.3 Strategy and Execution Alpek is committed to improving water efficiency across its operations while maintaining full compliance with applicable state and federal regulations. Recognizing the critical importance of water, the Company proactively ad- dresses environmental challenges associated with this essential resource. To support this approach, Alpek conducts comprehensive water risk as- sessments using the Aqueduct tool, which enables the identification of potential risks based on indicators such as water depletion and water stress. This process supports the effective monitoring and reduction of water consumption, particularly in regions facing drought conditions and freshwater scarcity. WATER INTAKE (Million m3) 125 2025 2024 2023 140 134 21.9 22.7 Water Intake Intensity (m3/ton Produced) 24.4 +100 participants in water management trainings OUR TARGET “All of Alpek’s high water-stressed and water-scarce sites will have a water stewardship and mitigation action plan by 2028.” Progress Alpek engaged with sites to assess local conditions, identify risks, and define mitigation actions. Site visits further supported the development of tailored action plans, advancing progress toward generating water stewardship and mitigation plans across all relevant sites. EL CARMEN RIYADH CONCÓN SANTIAGO ALTAMIRA SALALAH LERMA Extremely High (4) High (2) WATER STRESS LEVEL (# of sites) Progress 2025 During 2025, Alpek initiated a project at its Polyester site in Brazil to secure a reliable raw water supply amid regional shortages. The project aims to create a second supply line capable of delivering up to 500 m³/h, enhancing water security, reducing the risk of shutdowns, and supporting sustainable operations in a water-scarce region. By establishing this new connection, the Company strengthens the re- silience of its operations and ensures continuity in production even during periods of low water availability. Note: Water-stress in sites was assessed by Aqueduct, only active operational sites are displayed on the map. ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 56 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Water-scarce areas (3) Innovation GRI: 2-25, 306-2 TCFD: Risk Management Strategy and Execution Innovation at Alpek begins with curiosity, our drive to question, explore, and turn learning into mean- ingful progress. In 2025, Alpek brought this spirit to life by putting innovation methodologies into action, strengthened by our new community of Innovation Catalysts. The Company focused on applying new knowledge, sharing best practices across Business Units, and experimenting boldly to learn faster and adapt in a rapidly evolving environment. Together, teams lead projects that reinforce Alpek’s resilience, ac- celerate growth, and move forward. One idea, one experiment, and one shared success at a time. Alpek continued advancing its internal innovation portfolio. These initiatives span five categories: sustainability, new business models, process im- provements, strategy, and new products, reflecting our commitment to strengthening both operational performance and long‑term value creation. As Alpek moves forward, it remains focused on scaling what works, learning from every challenge, and turning innovative ideas into tangible impact. 2025 Innovation Awards During Alpek’s 2025 Innovation Awards, teams across the orga- nization presented projects aligned with Alpek’s five innovation segments, resulting in: 6 new products, including our biodegradable EPS, Biopek®, used in food packaging and medical applications. Potentially generating ~$24M USD in revenues and savings of ~$5M USD. Alpek remains committed to fostering a culture of innovation that drives transformative change across the organization. 107 initiatives in development by Alpek through its internal innovation program in 2025. Alpek Polyester 29 Styropek 25 Polioles 25 Indelpro 16 Terza 11 Alpek HQ 1 EVALUATION: 31% IMPLEMENTATION: 25% FINISHED: 40% INITIATIVES BY TYPE # Process 69 Sustainability 16 Product / Service 11 Strategic 10 Business Model / Market 1 OPERATIVE RESEARCH ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 57 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL Circularity GRI: 301-2 Strategy & Execution Alpek, a leading plastics manufacturer, is committed to addressing pollution and the depletion of finite raw materials by promot- ing a circular economy. Its long-term strategy centers on developing innovative products and adapting operations to reduce environmental impact, with a strong focus on integrating re- cycled and bio-based materials and enhancing the efficiency of recycling facilities to promote circularity. In parallel, the Company is committed to en- suring that its circular products meet the high- est circularity standards. Alpek’s expandable polystyrene business holds an Environmental Product Declaration (EPD) from the Internation- al EPD® System for its bio-based EPS. Progress 2025 Alpek’s expandable Polystyrene business launched a state-of-the-art extrusion facility in Tennessee, capable of processing up to 25 ktons of recycled material per year. The facility is designed to produce EPS solutions with recycled content and enhanced thermal insulation, further reinforcing the Company’s commitment to advancing a circular economy. Over the course of the year, Alpek implemented target- ed upgrades across its recycling operations, including enhancements to sorting and grinding equipment and the addition of specialized systems to improve pellet OUR TARGET PP: “Alpek will leverage its partnerships to develop recycling solutions for Polypropyl- ene and increase its share of Copolymers, employed in long-term usage applications.” EPS: “By 2030, Alpek commits to offer up to 30% of recycled and/ or bio-based con- tent in packaging products, and expand its portfolio of highly energy-efficient products for thermal insulation applications in the construction sector up to 100%.” RECYCLED CAPACITY (Thousand Tons) PET Bottle to Flake 132 204 PET Flake to Pellet 41 169 Single Pellet Technology 30 78 r-PET Sheet 0 33 R-PEK 0 25 2020 2025 Over 7,000 tons of EPS with biodegradable and recyclable content sold in the Americas in 2025 For additional details, readers may scan the QR code above to access the full EPD on the official website. https://www.environdec.com/ library/epd25386 quality. These improvements boosted material recov- ery, increased process reliability, and enhanced the viscosity of recycled outputs, demonstrating Alpek’s pursuit of operational excellence within its circular economy strategy. In 2025, Alpek continues to uphold its APR Third-Par- ty PCR Certification at all U.S. recycling sites, high- lighting its ongoing dedication to sustainability and maintaining rigorous standards for recycled-content products. ABOUT ALPEK OUR GOVERNANCE FINANCIAL REVIEW 58 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT NATURAL CAPITAL 09 Financial Review ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 59 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Management Analysis GRI: 301-2 Unless otherwise specified, figures are expressed in millions of nominal pesos, while certain figures are expressed as mil- lions of dollars (US$) due to the high dollarization of Alpek’s revenues. Percentage variations are stated in nominal terms. All information is presented in accordance with International Financial Reporting Standards (IFRS). Volume Alpek experienced a moderation in demand levels during 2025, reflected in lower volumes across its product portfo- lio. Total volume reached 4,380 thousand tons, representing an 8% decrease compared to 2024. The decline was driven by lower volumes in the Polyester and Plastics & Chemicals segments, which reached 3,609 thousand tons and 771 thou- sand tons, respectively. Volume [Thousands of Tons] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester 3,609 3,911 3,785 -8 3 Plastics & Chemicals 771 834 849 -8 -2 Total Volume 4,380 4,745 4,635 -8 2 Average Price 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester Millions of Pesos 25 26 27 -2 -5 Millions of Dollars 1 1 2 -7 -8 Plastics & Chemicals Millions of Pesos 33 35 33 -7 8 Millions of Dollars 2 2 2 -12 6 Total Millions of Pesos 29 29 30 - -3 Millions of Dollars 2 2 2 -5 -5 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 60 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Revenues Alpek’s total revenues in 2025 amounted to $126,840 million (US $6,585 million), 8% and 13% lower compared to 2024. The reduction was mainly driven by pressured margins due to global oversupply and trade-related disruptions, across Polyester and Plastics & Chemicals segments. Revenues by Business Segment Polyester’s net revenues in 2025 amount- ed to $90,486 million (US $4,697 million), representing a 9% decrease in pesos and a 14% decline in dollars compared to $99,937 million (US $5,483 million) in 2024. This segment decreased 2% and 7% in average sale prices in pesos and dollars, respectively, reflecting lower feedstock pricing dynamics. Volume de- creased by 8% compared to 2024 due to softer demand. Plastics & Chemicals’ net revenues reached $25,379 million (US $1,316 mil- lion) in 2025, declining 14% in pesos and 18% in dollars versus $29,501 million (US $1,614 million) in 2024. The average sale prices in pesos and dollars decreased by 7% and 12%, primarily attributable to pricing pressure. Volume decreased by 8% compared to 2024. Revenues 2025 2024 2023 ‘25 vs ‘24 [%] ‘24 vs ‘23 [%] Polyester Millions of Pesos 90,486 99,937 102,154 -9 -2 Millions of Dollars 4,697 5,483 5,739 -14 -4 Plastics & Chemicals Millions of Pesos 25,379 29,501 27,709 -14 6 Millions of Dollars 1,316 1,614 1,556 -18 4 Others Millions of Pesos 10,975 7,972 8,296 38 -4 Millions of Dollars 572 433 464 32 -7 Total Millions of Pesos 126,840 137,409 138,159 -8 -1 Millions of Dollars 6,585 7,530 7,759 -13 -3 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 61 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW EBITDA In 2025, consolidated EBITDA amounted to $8,104 million (US $418 million), representing a 31% decrease in pesos and a 35% decline in dollars compared to $11,728 million (US $646 million) in 2024. It includes a net negative effect from ex- traordinary items of $1,334 million (US $71 million), resulting in a Comparable EBITDA of $9,437 million (US $489 million), 27% and 30% lower compared to 2024. REPORTED EBITDA [Millions of Dollars] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester 216 426 281 -49 52 Plastics & Chemicals 190 207 228 -8 -9 Others 13 13 5 - 135 Total 418 646 514 -35 26 REPORTED EBITDA [Millions of Pesos] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester 4,202 7,707 5,062 -45 52 Plastics & Chemicals 3,658 3,784 4,108 -3 -8 Others 244 236 90 3 164 Total 8,104 11,728 9,260 -31 27 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 62 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW COMPARABLE EBITDA [Millions of Dollars] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester 267 464 497 -42 -7 Plastics & Chemicals 209 223 232 -6 -4 Others 13 12 5 4 143 Total 489 699 734 -30 -5 COMPARABLE EBITDA [Millions of Pesos] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Polyester 5,160 8,526 8,842 -39 -4 Plastics & Chemicals 4,035 4,109 4,159 -2 -1 Others 242 221 91 10 144 Total 9,437 12,855 13,092 -27 -2 EBITDA by Business Segment In 2025, EBITDA for the Polyester segment amounted to $4,202 million (US $216 million), representing a 45% decrease in pesos and a 49% decline in dollars compared to $7,707 million (US $426 million) in 2024. Adjusting for extraordinary items of $959 (US $ 51 million), the Comparable EBITDA was $5,160 million (US $267 million), a decrease in pesos of 39% and 42% in dollars year-over-year. EBITDA for the Plastics & Chemicals segment totaled $3,658 million (US $190 million) in 2025, declining 3% in pesos and 8% in dollars versus $3,784 million (US $207 million) in 2024. Adjusting extraordinary items of $377 (US $20 million), the Comparable EBITDA was $4,035 million (US $209 million), a decrease of 2% in pesos and 6% in dollars year-over-year. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 63 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Net Financial Result In 2025, Alpek reported a net financial cost of $2,362 mil- lion (US $123 million), representing a 60% improvement compared to $5,920 million (US $321 million), in 2024. This improvement was mainly driven by a favorable foreign exchange effect of $743 million (US $38 million), compared to a loss of $2,340 million (US $ 130 million) in 2024. Net financial expenses, decreased from $3,580 million (US $191 million) in 2024 to $3,104 million (US $162 million) in 2025. Taxes In 2025, an income tax of -$1,880 million (US -$99 million) was recognized, compared to $582 million (US $27 million) in 2024, mainly due to a decrease in deferred tax benefits compared to the prior year. Financial Result, Net [Millions of Pesos] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Financial expense -3,783 -4,449 -3,982 15 -12 Financial income 678 869 1,317 -22 -34 Financial expenses, net -3,104 -3,580 -2,665 13 -34 Loss due to exchange fluctuation, net 743 -2,340 -3 132 -83,342 Financial result, net -2,362 -5,920 -2,668 60 -122 Taxes [Millions of Pesos] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Income (loss) before taxes -336 -794 -9,306 58 91 Income tax rate 30% 30% 30% Statutory income tax rate (expenses) benefit 101 238 2,792 -58 -91 Taxes for permanent differences between accounting- taxable profit -1,981 344 -3,519 -676 110 Total income tax -1,880 582 -727 -423 180 Effective tax rate 560% 73% 8% Comprised as follows: Current income tax -1,146 -1,237 -2,358 7 48 Deferred income tax -734 1,819 1,631 -140 12 Total income tax -1,880 582 -727 -423 180 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 64 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Statement of Income [Millions of Pesos] 2025 2024 2023 ‘25 VS ‘24 [%] ‘24 VS ‘23 [%] Operating income 2,022 5,170 -6,437 -61 180 Financial result, net -2,362 -5,920 -2,668 60 -122 Equity in income of associates and joint ventures 4 -44 -201 109 78 Income tax -1,880 582 -727 -423 180 Consolidated net income -2,216 -212 -10,033 -947 98 Income attributable to Controlling Interest -2,774 -765 -10,914 -262 93 Net (Loss) Income Attributable to the Controlling Interest In 2025, operating income was $2,022 million (US $101 million), 61% lower than the $5,170 million (US $295 million), in 2024. Consolidated net loss attributable to the controlling interest amounted to $2,774 million (US $150 million), compared to a consolidated net loss of $765 million (US $33 million) in 2024. Investments in Fixed and Intangible Assets In 2025, investments in fixed and intangible assets totaled $3,247 million (US $170 mil- lion), 46% higher than the $2,223 million (US $121 million), in the prior year, mainly driven by maintenance CAPEX across multiple sites. Operating Free Cash Flow Despite a challenging industry environment characterized by persistent oversupply and low- er ocean freight rates, positive free cash flow generation was maintained. During the year, financial strength improved through disciplined capital allocation and enhanced net working capital efficiency, resulting in an increase of $163 million in operating free cash flow. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 65 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Debt Profile Short and Long Term Debt2 [Millions of Dollars] 2025 2024 ‘25 VS ‘24 Integrated 2025 Integrated 2024 Short term debt 115 81 43% 5% 4% Current portion of LT Debt 3 - 100% - - 2 years 7 120 -94% - 6% 3 years 235 503 -53% 11% 25% 4 years 627 200 213% 30% 10% 5 years 380 499 -24% 18% 25% 6 years 613 - 100% 29% - 7 years 113 597 -81% 5% 30% 8+ years 8 8 -6% - - Total 2,101 2,007 5% 100% 100% Avg Maturity LT Debt (years) 4.2 4.3 Avg Maturity Total Debt (years) 4.2 4.1 Financial Indicators [Times] 2025 2024 2023 Net Debt / EBITDA 4.4 2.9 3.4 Interest Coverage 2.6 3.4 3.4 Total liabilities / Stockholder’s equity 2.6 2.5 2.1 Net Debt1 Net debt was $33,055 (US $1,840 million) as of December 31, 2025, 13% below the $38,190 million (US $1,884 million) as of December 31, 2024. The cash balance and cash equivalents totaled $8,051 million (US $448 million) including re- stricted cash at year end 2025. (1) Net Debt = Current debt plus non-current debt (excluding debt issuance costs), plus accrued interest payable, less cash and cash equivalents, less restricted cash and cash equivalents. (2) Exclude leases and lease interests. ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL 66 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT FINANCIAL REVIEW Financial Statements 10 ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 67 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Financial Statements as of and for the Years Ended December 31, 2025, 2024 and 2023, and Independent Auditors’ Report Dated January 31, 2026 Alpek, S. A. B. de C. V. and Subsidiaries Independent Auditors’ Report and Consolidated Financial Statements as of and for the Years Ended December 31, 2025, 2024 and 2023 Table of Contents Page Independent Auditors’ Report 1 Consolidated Statements of Financial Position 5 Consolidated Statements of Income 6 Consolidated Statements of Comprehensive Income 7 Consolidated Statements of Changes in Stockholders’ Equity 8 Consolidated Statements of Cash Flows 9 Notes to the Consolidated Financial Statements 10 Deloitte se refiere a Deloitte Touche Tohmatsu Limited, sociedad privada de responsabilidad limitada en el Reino Unido, y a su red de firmas miembro, cada una de ellas como una entidad legal única e independiente. Conozca en www.deloitte.com/mx/conozcanos la descripción detallada de la estructura legal de Deloitte Touche Tohmatsu Limited y sus firmas miembro. Galaz, Yamazaki, Ruiz Urquiza, S.C. Ave. Juárez 1102, piso 40 colonia Centro, 64000 Monterrey, México Tel: +52 (81) 8133 7300 www.deloitte.com/mx Independent Auditors’ Report to the Board of Directors and Stockholders of Alpek, S. A. B. de C. V. and Subsidiaries (Figures in millions of Mexican pesos “$” and millions of U.S. dollars “US$”) Opinion We have audited the consolidated financial statements of Alpek, S. A. B. de C. V. and Subsidiaries (“Alpek” or the “Company”), which comprise the consolidated statements of financial position as of December 31, 2025, 2024 and 2023, the consolidated statements of income, the consolidated statements of comprehensive income, the consolidated statements of changes in stockholders’ equity and the consolidated statements of cash flows for the years then ended, and the notes to the consolidated financial statements, including material accounting policies information. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of Alpek, S. A. B. de C. V. and Subsidiaries as of December 31, 2025, 2024 and 2023, and their consolidated financial performance and consolidated cash flows for the years then ended, in accordance with IFRS Accounting Standards, as issued by the International Accounting Standards Board (IASB). Basis for Opinion We conducted our audits in accordance with International Standards on Auditing (“ISA”). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”) together with the Code of Ethics issued by the Mexican Institute of Public Accountants (“IMCP Code”), and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code and with the IMCP Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other matters The accompanying consolidated financial statements have been translated from Spanish to English for the convenience of readers. Emphasis Paragraphs Merger of the Company with Controladora Alpek, S.A.B. de C.V. (“Controladora Alpek”) As disclosed in Note 2 to the accompanying consolidated financial statements, on November 25, 2025, the Company held an Extraordinary Shareholders’ Meeting in which, among other matters, the merger of Controladora Alpek into the Company was approved, subject to certain conditions. Pursuant to the foregoing, Controladora Alpek would cease to exist and its shares would be cancelled, while the Company would remain as the surviving entity, and the number of outstanding shares would remain unchanged, except for any excess shares resulting from the application of the exchange ratio that are determined to be cancelled, as well as for the cancellation of shares derived from the Company’s share repurchase program. The merger became fully effective on November 26, 2025. 2 Beginning on December 9, 2025 (the “Exchange Date”), the shares representing the Company’s capital stock that were previously owned by Controladora Alpek were delivered to the shareholders of Controladora Alpek at an exchange ratio of 0.309933698216403 Company shares for each share of Controladora Alpek. On the same date, the listing of the shares representing the capital stock of Controladora Alpek on the Mexican Stock Exchange was cancelled, and the merger process was completed. The effects of this merger on the Company’s financial information are presented in the Consolidated Statements of Changes in Stockholders’ Equity. Since this transaction involved a merger between a subsidiary (Alpek) and its holding company (Controladora Alpek), it was accounted for as a transaction between entities under common control, incorporating Controladora’s historical carrying amounts of assets and liabilities into Alpek. Our opinion has not been modified as a result of this matter. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements for the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that the matter described below is the key audit matter that should be reported in our report. Recognition of revenue in subsidiaries The amount of the Company's revenue has a high degree of dependence on the adequacy of management's assessment regarding the point in time when control of the goods is considered to have been transferred to its customers, which is highly related to the contractually agreed-upon terms of sale, said terms vary among Alpek's subsidiaries. Due to the significance of the evaluation that the Company's management must perform at each reporting period to identify the moment when the performance obligation is satisfied for revenue recognition, we consider this to represent a key audit matter. How our audit addressed this key audit matter: To carry out audit procedures that mitigate the identified risk in a reasonable manner, we include, among others, the following procedures: • We identified and assessed the risks of material misstatement related to revenue recognition, including the risk of fraud. • We tested design and implementation, as well as operating effectiveness of relevant controls that mitigate the risks. • We determined the scope for subsidiaries aiming to reduce the risk to an acceptably low level. • We designed and performed substantive tests of details and substantive analytical procedures. • We directed, supervised, and reviewed the work of component auditors. • We reviewed compliance with the presentation and disclosure requirements set forth in the accounting standard IFRS 15, Revenue from Contracts with Customers. The results of our procedures were satisfactory. Information other than the consolidated financial statements and auditor’s report thereon The Company’s management is responsible for the additional information presented. Additional information includes: i) the sustainability‑related information that the Company is required to prepare in accordance with Article 33, Section I, subsection (a); ii) the information that will be incorporated in the annual report that the Company is required to prepare in accordance with Article 33, section I, subsection b) of Title Four, Chapter One of the General Provisions Applicable to Issuers and other Participants of the Stock Market in México and the Instructions that accompany these provisions (the "Provisions"), which is expected that the Annual Stock Exchange Filling and the annual report to be available for reading after the date of this audit report; and iii) other additional information, which is a measure that is not required by IFRS Accounting Standards of accounting, and has been incorporated for the purpose of providing additional explanation to its investors and main readers of its consolidated financial statements to evaluate the performance of each of the operating segments and other indicators on the capacity to meet obligations regarding the earnings before interest, taxes, depreciation, amortization and non-current asset impairment ("adjusted EBITDA") of the Company; this information is presented in Note 29. 3 Our opinion of the consolidated financial statements will not cover the additional information and we will not express any form of assurance about it. In connection with our audit of the consolidated financial statements, our responsibility will be to read the additional information, when it becomes available, and when we do so, to consider whether the additional information contained therein is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or appears to contain a material misstatement. When we read the Annual Report, we will issue the declaration on its reading, required in Article 33, Section I, subsection b) number 1.2 of the Provisions. Also, and in connection with our audit of the consolidated financial statements, our responsibility is to read and recalculate the additional information, which in this case is the measure not required by IFRS Accounting Standards of accounting, and in doing so, consider whether the other information contained therein is materially inconsistent with the consolidated financial statements or our knowledge obtained during the audit, or appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement in the additional information; we would be required to report that fact. As of the date of this report, we have nothing to report in this regard. Responsibilities of management and those charged with governance for the consolidated financial statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards of accounting issued by the IASB, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those responsible with Company´s governance are responsible for overseeing the Company’s consolidated financial reporting process. Auditors’ responsibilities for the audit of the consolidated financial statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: − Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. − Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. − Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. 4 − Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern. − Evaluate the overall presentation structure and content of the financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. − Plan and perform the group audit to obtain sufficient audit evidence regarding the financial information of the entities or business units within Alpek as a basis for forming an opinion on the group’s financial statements. We are responsible for the direction, supervision, and review of the audit work performed for the purposes of Alpek's group audit. We are solely responsible for our audit opinion. We communicate with those charged with governance in the Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance in the Company with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with those charged with governance in the Company, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Galaz, Yamazaki, Ruiz Urquiza, S.C. Affiliate of a member firm of Deloitte Touche Tohmatsu Limited C. P. C. Jesús Israel Almaguer Gámez Monterrey, Nuevo León, México January 31, 2026 5 Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Statements of Financial Position As of December 31, 2025, 2024 and 2023 In millions of Mexican pesos Note 2025 2024 2023 Assets Current assets: Cash and cash equivalents 6 $ 8,043 $ 6,216 $ 7,391 Restricted cash 6 7 386 8 Trade and other accounts receivable, net 7 14,424 18,431 17,473 Inventories 8 23,434 28,244 23,322 Derivative financial instruments 4 148 10 86 Prepayments 9 993 885 744 Total current assets 47,049 54,172 49,024 Non-current assets: Restricted cash 6 - - 314 Property, plant and equipment, net 10 40,876 46,317 40,952 Right-of-use asset, net 11 3,005 3,737 3,170 Goodwill and intangible assets, net 12 2,894 3,675 3,494 Deferred income taxes 20 1,989 4,140 1,334 Derivative financial instruments 4 10 5 9 Prepayments 9 16 12 6 Investments accounted for using the equity method and other non- current assets 13 2,905 4,659 4,381 Total non-current assets 51,695 62,545 53,660 Total assets $ 98,744 $116,717 $102,684 Liabilities and Stockholders’ Equity Current liabilities: Debt 16 $ 2,131 $ 1,636 $ 689 Lease liability 17 880 944 701 Trade and other accounts payable 15 25,416 31,336 27,129 Income taxes payable 20 238 433 390 Derivative financial instruments 4 304 802 253 Provisions 18 258 199 749 Total current liabilities 29,227 35,350 29,911 Non-current liabilities: Debt 16 35,549 38,934 32,648 Lease liability 17 2,482 3,160 2,755 Derivative financial instruments 4 4 37 12 Provisions 18 1,009 1,651 739 Deferred income taxes 20 1,933 3,075 2,024 Employee benefits 19 832 854 880 Other non-current liabilities 21 123 151 493 Total non-current liabilities 41,932 47,862 39,551 Total liabilities 71,159 83,212 69,462 Stockholders’ equity Controlling interest: Capital stock 22 5,956 6,019 6,019 Share premium 8,145 8,908 8,909 Retained earnings 10,372 13,777 17,298 Other reserves (1,621) (451) (3,534) Total controlling interest 22,852 28,253 28,692 Non-controlling interest 14 4,733 5,252 4,530 Total stockholders’ equity 27,585 33,505 33,222 Total liabilities and stockholders’ equity $ 98,744 $116,717 $102,684 The accompanying notes are an integral part of these consolidated financial statements. 6 Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Statements of Income For the years ended December 31, 2025, 2024 and 2023 In millions of Mexican pesos, except for losses per share amounts Note 2025 2024 2023 Revenues 29 $126,840 $137,409 $138,159 Cost of sales 24 (118,783) (125,721) (127,863) Gross profit 8,057 11,688 10,296 Selling expenses 24 (1,755) (2,012) (2,132) Administrative expenses 24 (3,825) (3,997) (3,718) Other loss, net 25 (455) (509) (10,883) Operating income (loss) 2,022 5,170 (6,437) Financial income 26 678 869 1,317 Financial expenses 26 (3,783) (4,449) (3,982) Gain (Loss) due to exchange fluctuation, net 26 743 (2,340) (3) Financial result, net (2,362) (5,920) (2,668) Equity in loss of associates and joint ventures recognized using the equity method 4 (44) (201) Loss before taxes (336) (794) (9,306) Income taxes 20 (1,880) 582 (727) Net consolidated loss $ (2,216) $ (212) $(10,033) Loss attributable to: Controlling interest $ (2,774) $ (765) $(10,914) Non-controlling interest 558 553 881 $ (2,216) $ (212) $(10,033) Losses per basic and diluted share, in Mexican pesos $ (1.32) $ (0.36) $ (5.18) Weighted average outstanding shares (millions of shares) 2,101 2,107 2,107 The accompanying notes are an integral part of these consolidated financial statements. 7 Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Statements of Comprehensive Income For the years ended December 31, 2025, 2024 and 2023 In millions of Mexican pesos Note 2025 2024 2023 Net consolidated loss $ (2,216) $ (212) $(10,033) Other comprehensive (loss) income for the year: Items that will not be reclassified to the statement of income: Remeasurement of employee benefit obligations, net of taxes 19, 20 50 98 5 Items that will be reclassified to the statement of income: Equity in other comprehensive income of associates and joint ventures recognized through the equity method (1) 1 (1) Effect of derivative financial instruments designated as cash flow hedges, net of taxes 4, 20 499 (452) 765 Translation effect of foreign entities 4, 20 (2,328) 4,345 (5,923) Total other comprehensive (loss) income for the year (1,780) 3,992 (5,154) Consolidated comprehensive (loss) income $ (3,996) $ 3,780 $(15,187) Attributable to: Controlling interest $ (3,944) $ 2,318 $(15,381) Non-controlling interest (52) 1,462 194 Comprehensive (loss) income for the year $ (3,996) $ 3,780 $(15,187) The accompanying notes are an integral part of these consolidated financial statements. 8 Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Statements of Changes in Stockholders’ Equity For the years ended December 31, 2025, 2024 and 2023 In millions of Mexican pesos Capital stock Share premium Retained earnings Other reserves Total controlling interest Non- controlling interest Total stockholders’ equity Balance as of January 1, 2023 $ 6,021 $ 8,917 $ 31,032 $ 933 $ 46,903 $ 5,291 $ 52,194 Net loss - - (10,914) - (10,914) 881 (10,033) Total other comprehensive loss for the year - - - (4,467) (4,467) (687) (5,154) Comprehensive loss - - (10,914) (4,467) (15,381) 194 (15,187) Dividends declared - - (2,866) - (2,866) (955) (3,821) Reissuance of shares 36 176 - - 212 - 212 Repurchase of shares (38) (184) - - (222) - (222) Other - - 46 - 46 - 46 Balance as of December 31, 2023 6,019 8,909 17,298 (3,534) 28,692 4,530 33,222 Net loss - - (765) - (765) 553 (212) Total other comprehensive loss for the year - - - 3,083 3,083 909 3,992 Comprehensive loss - - (765) 3,083 2,318 1,462 3,780 Dividends declared - - (2,634) - (2,634) (776) (3,410) Reissuance of shares 31 108 - - 139 - 139 Repurchase of shares (31) (109) - - (140) - (140) Other - - (122) - (122) 36 (86) Balance as of December 31, 2024 6,019 8,908 13,777 (451) 28,253 5,252 33,505 Net loss - - (2,774) (2,774) 558 (2,216) Total other comprehensive loss for the year - - - (1,170) (1,170) (610) (1,780) Comprehensive loss - - (2,774) (1,170) (3,944) (52) (3,996) Dividends declared - - - - - (668) (668) Repurchase of shares (17) (60) - - (77) - (77) Merger Effects (note 2a) - - (1,416) - (1,416) - (1,416) Cancellation of shares (note 22) (46) (703) 749 - - - - Business acquisitions 244 244 Other - - 36 - 36 (43) (7) Balance as of December 31, 2025 $ 5,956 $ 8,145 $ 10,372 $ (1,621) $ 22,852 $ 4,733 $ 27,585 The accompanying notes are an integral part of these consolidated financial statements. 9 Alpek, S. A. B. de C. V. and Subsidiaries Consolidated Statements of Cash Flows For the years ended December 31, 2025, 2024 and 2023 In millions of Mexican pesos 2025 2024 2023 Cash flows from operating activities Loss before income taxes $ (336) $ (794) $ (9,306) Depreciation and amortization 5,158 4,767 4,619 Impairment of long-lived assets 924 1,791 11,078 Allowance for doubtful accounts (21) (17) (101) Financial result, net 1,387 4,678 2,007 Gain on business combinations - (47) - (Loss) gain on sale of property, plant and equipment (80) (27) 66 Statutory employee profit sharing, provisions and other items (375) (403) 2,247 Subtotal 6,657 9,948 10,610 Movements in working capital (Increase) decrease in trade receivables and other assets 1,304 2,910 (2,107) Decrease (increase) in inventories 3,047 (2,482) 6,623 Increase (decrease) in trade and other accounts payable (2,313) (2,746) 4,296 Income taxes paid (1,080) (1,372) (4,398) Net cash flows generated from operating activities 7,615 6,258 15,024 Cash flows from investing activities Interest collected 430 670 1,258 Cash flows in acquisition of property, plant and equipment (2,422) (2,016) (2,501) Cash flows in sale of property, plant and equipment 33 61 13 Cash flows in acquisition of intangible assets (73) (18) (40) Cash flows in sale of intangible assets 55 - - Cash flows in business acquisition, net of cash acquired (618) 1 (512) Cash flows paid in investment in associates and joint ventures (222) (250) (1,925) Loans granted to related parties - (216) (65) Notes receivable 129 (67) - Collection of notes 58 128 273 Restricted cash 359 1 179 Net cash flows used in investing activities (2,271) (1,706) (3,320) Cash flows from financing activities Proceeds from debt 38,454 16,470 36,732 Payments of debt (36,322) (15,966) (37,104) Lease payments (1,516) (1,269) (1,170) Interest paid (2,555) (2,595) (3,059) Dividends paid by Alpek, S. A. B. de C. V. - (2,537) (2,966) Dividends paid by subsidiaries to non-controlling interest (668) (776) (955) Repurchase of shares (152) (140) (222) Reissuance of shares 75 139 212 Others (7) - - Net cash flows used in financing activities (2,691) (6,674) (8,532) Increase (decrease) in cash and cash equivalents 2,653 (2,122) 3,172 Effect of changes in exchange rates (826) 947 (2,100) Cash and cash equivalents at the beginning of the year 6,216 7,391 6,319 Cash and cash equivalents at the end of the year $ 8,043 $ 6,216 $ 7,391 The accompanying notes are an integral part of these consolidated financial statements. 10 Alpek, S. A. B. de C. V. and Subsidiaries Notes to the Consolidated Financial Statements As of and for the years ended December 31, 2025, 2024 and 2023 Millions of Mexican pesos, except where otherwise indicated 1. General information Alpek, S. A. B. de C. V. and Subsidiaries (“Alpek” or the “Company”), formerly a subsidiary of Controladora Alpek, S.A.B. de C.V. (“Controladora Alpek”) with which it merged on November 26, 2025 (see Note 2 a), with Alpek remaining as the merging and surviving entity, is a petrochemical company with operations through two major business segments: “Polyester” and “Plastics and Chemicals”. The Polyester segment comprises the production of purified terephthalic acid (“PTA”), polyethylene terephthalate (“PET”), recycled PET (“rPET"), and polyester fibers, which are mainly used for food and beverage packaging, textile and industrial filament markets. The Plastics & Chemicals business segment comprises the production of polypropylene (“PP”), expandable styrene (“EPS” and “Arcel®”), fertilizers and other chemicals, which serves a wide range of markets, including the consumer goods, automotive, construction, agriculture, pharmaceutical and other markets. Alpek is one of the largest petrochemical companies in México and one of the largest in Latin America. Additionally, it is the main integrated producer of polyester and one of the main producers of rPET in America. It operates the largest EPS plant in the continent, and one of the largest PP plants in North America. When reference is made to the controlling entity Alpek, S.A.B. of C.V. as an individual legal entity, it will be referred to as “Alpek SAB”. The shares of Alpek SAB are traded on the Mexican Stock Exchange (“MSE”) and previously had Sigma Foods, S. A. B. de C. V. (“Sigma Foods”) (formerly known as “Alfa S. A. B. de C. V.”) as its main holding company. As of December 31, 2025, 2024 and 2023, the percentage of shares that traded on the MSE was 96%, 17.37%, and 17.37%, respectively. Alpek SAB is located at Avenida Gómez Morín Sur No. 1111, Col. Carrizalejo, San Pedro Garza García, Nuevo León, México and operates productive plants located in México, the United States of America, Oman, Saudi Arabia, Canada, Argentina, Chile, Brazil and United Kingdom. In the following notes to the financial statements when referring to pesos or "$", it means millions of Mexican pesos. When referring to dollars or "US$", it means millions of dollars from the United States of America. When referring to Euros or "€" it means millions of Euros. 2. Significant events 2025 a. Merger with Controladora Alpek, S.A.B. de C.V On November 25, 2025, the Company held an Extraordinary Shareholders’ Meeting at which, among other matters, the merger of Controladora Alpek, S.A.B. de C.V. into the Company was approved, subject to certain conditions. As a result, Controladora Alpek would cease to exist and its shares would be cancelled, while the Company would remain as the surviving entity and the number of the Company’s outstanding shares would remain unchanged, except for any excess shares resulting from the application of the exchange ratio which—if so resolved—would be cancelled, as well as for the cancellation of shares derived from the Company’s share repurchase program. The merger became fully effective on November 26, 2025. Effective December 9, 2025 (the “Exchange Date”), the shares representing the Company´s capital stock, previously held by Controladora Alpek, were delivered to the shareholders of Controladora Alpek at an exchange ratio of 0.309933698216403 Company shares for each Controladora Alpek share. On the same date, the listing of Controladora Alpek’s shares on the Mexican Stock Exchange was cancelled, marking the completion of the merger process. Since this transaction involved a merger between a subsidiary (Alpek) and its holding company (Controladora Alpek), it was accounted for as a transaction between entities under common control, incorporating Controladora’s historical carrying amounts of assets and liabilities into Alpek. 11 b. Suspension of operations at PET plant in North Carolina On May 30, 2025, the Company announced its plans to cease operations at its Cedar Creek plant in Fayetteville, North Carolina, effective July 31, 2025. The Company recognized impairment of $362 (US$19) and $14 (US$0.8) for fixed assets and right of use assets, respectively, for the year ended December 31, 2025. c. Conclusion of the Spin-off of Alfa’s Equity Interest in Alpek and Creation of Controladora Alpek On March 27, 2025, Alpek announced that Alfa, S.A.B. de C.V. received authorization from the National Banking and Securities Commission (“CNBV”) for the registration of Controladora Alpek’s shares in the National Securities Registry. The distribution of Controladora Alpek’s shares represents the conclusion of the spin-off process approved by Alfa’s shareholders on October 24, 2024. As a result of this transaction, ALFA’s shareholders will receive one share of Controladora Alpek for each Alfa share they hold as of market close on April 4, 2025. The number of Alpek shares remains unchanged. Controladora Alpek began trading on the Mexican Stock Exchange on April 7, 2025. 2024 d. Approval of the spin-off of Alfa´s equity interest in Alpek and the creation of Controladora Alpek On October 24, 2024, the Shareholders' Meeting of Alfa SAB approved the spin-off of its entire equity interest in Alpek. The process was subject to certain suspensive conditions, including the registration of Controladora Alpek as a listed issuer on the Stock Exchange, which has not been completed as of December 31, 2024. e. Suspension of EPS operations in Beaver Valley On November 4, 2024, the Company announced its plans to suspend production at its Beaver Valley EPS facility in Monaca, Pennsylvania, by January 2025. The Company recognized impairment of inventories and fixed assets amounting to $96.5 (US$4.8) and $1,191 (US$58.7), respectively, for the year ended December 31, 2024. 2023 f. Interruption for an indefinite term of Cooper River's PET resin production On March 1, 2023, the Company announced the indefinite interruption of PET resin production at its Cooper River plant, located in Charleston, South Carolina. The plant had an installed capacity of 170,000 tons of PET resin. The Company started the process of decommissioning and dismantling of assets, as well as environmental cleanup and remediation, which is why the Company registered provisions for these concepts for $379 (US$20.8). Additionally, the Company had other direct costs attributable to the closure, mainly for severance pay and cancellation of contracts for $169 (US$9.1). Derived from the interruption in production, the Company performed impairment tests on the fixed assets associated with the plant and recorded an impairment charge related to these assets of $950 (US$51.9). Additionally, it recognized and inventory impairment of $63 (US$3.4). g. US$200 million loan linked to sustainability On August 3, 2023, Alpek announced that it refinanced the outstanding balance of the bond due in August 2023, with bank debt that includes a US$200 Sustainability Linked Credit maturing in 2028. The loan incorporates a pricing mechanism that incentivizes progress on two of the Company’s ESG objectives: • Reduction in carbon emissions Scope 1, 2 and 3. • Reduction in its incidence rate for its employees and contractors. 12 h. Closure of the filament production plant On August 18, 2023, the Company announced the closure of its textile and industrial fiber production plant located in Monterrey. Alpek made the decision to close operations at these facilities and not replace their production because the excess production experienced worldwide in recent years has represented a significant reduction in its profitability for the filament industry and it is not expected that this situation will change in the near future. The Company recognized an impairment of inventories and fixed assets for $121 (US$7) and $409 (US$23.7), respectively, for the year ended December 31, 2023. Additionally, it had impacts due to employee terminations for $193 (US$11.1). i. Corpus Christi Polymers construction pause On September 27, 2023, Alpek announced that Corpus Christi Polymers (“CCP”) temporarily paused construction of the integrated PTA-PET plant in Corpus Christi, Texas. The partners decided to pause it because high inflation rates and other factors caused construction and labor costs to exceed initial expectations. Options will also be evaluated to optimize the project's costs and schedule. This site will be adequately preserved so that construction can resume in the future. Based on the requirements of IAS 28 and IAS 36, the Company identified that the pause in construction of the plant generated signs of impairment on its investment in the joint venture. Alpek determined through the discounted cash flow model and considering the decisions of its Board of Directors, to recognize an impairment of its investment in the joint venture of $9,591 (US$557) for the year ended December 31, 2023. As of December 31, 2024, construction of the integrated PTA-PET plant in Corpus Christi, Texas, remains on pause. 3. Summary of material accounting policies The following are the material accounting policies followed by the Company and its subsidiaries, which have been consistently applied in the preparation of their financial information in the years presented, unless otherwise specified: a) Basis of preparation The consolidated financial statements of Alpek have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). IFRS include all International Accounting Standards ("IAS") in force and all related interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”), including those previously issued by the Standing Interpretations Committee (“SIC”). The consolidated financial statements have been prepared on a historical cost basis, except for the cash flow hedges, which are measured at fair value, and for the financial assets and liabilities at fair value through profit or loss with changes reflected in the consolidated statement of income and for financial assets available for sale. The preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. Additionally, it requires Management to exercise judgment in the process of applying the Company's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where judgments and estimates are significant to the consolidated financial statements are disclosed in Note 5. b) Consolidation i. Subsidiaries The subsidiaries are all the entities over which the Company has control. The Company controls an entity when it is exposed or has the right to variable returns from its interest in the entity and it is capable of affecting the returns through its power over the entity. When the Company's participation in subsidiaries is less than 100%, the share attributed to outside stockholders is reflected as non- controlling interest. Subsidiaries are fully consolidated from the date on which control is transferred to the Company and up to the date it loses such control. 13 The accounting method used by the Company for business combinations is the acquisition method. The Company defines a business combination as a transaction through which it obtains control over a business, whereby it has the power to steer and manage the relevant operations of all assets and liabilities of the business with the purpose of providing a return in the form of dividends, lower costs or other economic benefits directly to investors. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable acquired assets and liabilities and contingent liabilities assumed in a business combination are initially measured at their fair values at the acquisition date. The Company recognizes any non-controlling interest in the acquiree based on the share of the non-controlling interest in the net identifiable assets of the acquired entity. The Company accounts for business combinations of entities using the predecessor method in a jointly controlled entity. The predecessor method involves the incorporation of the carrying amounts of the acquired entity, which includes the goodwill recognized at the consolidated level with respect to the acquiree. Any difference between the carrying value of the net assets acquired at the level of the subsidiary and its carrying amount at the level of the Company is recognized in stockholders’ equity. The acquisition-related costs are recognized as expenses in the consolidated statement of income when incurred. Goodwill is initially measured as excess of the sum of the consideration transferred and the fair value of the non-controlling interest over the net identifiable assets and liabilities assured. If the consideration transferred is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income. If the business combination is achieved in stages, the value in books at the acquisition date of the equity previously held by the Company in the acquired entity is remeasured at its fair value at the acquisition date. Any loss or gain resulting from such remeasurement is recorded in the consolidated income of the year. Transactions, intercompany balances and unrealized gains on transactions between Alpek’s companies are eliminated in preparing the consolidated financial statements. Alpek’s subsidiaries consistently apply the accounting policies as those disclosed in these consolidated financial statements. As of December 31, 2025, 2024 and 2023, the main companies that comprise the consolidated financial statements of the Company are as follows: Country (1) Ownership percentage (%) (2) Functional Currency 2025 2024 2023 Alpek, S. A. B. de C. V. (Holding Company) Mexican peso Alpek Polyester, S. A. de C. V. (Holding Company) 100 100 100 US dollar Alpek Polyester USA, LLC (3) USA 100 100 100 US dollar Alpek Polyester México, S.A. de C.V. (4) 100 100 100 US dollar DAK Américas Exterior, S. L. (Holding Company) Spain 100 100 100 US dollar Alpek Polyester Argentina S. A. (5) Argentina 100 100 100 US dollar Compagnie Alpek Polyester Canada (Selenis) Canada 100 100 100 US dollar Tereftalatos Mexicanos, S. A. de C. V. (Temex) 91 91 91 US dollar Akra Polyester, S. A. de C. V. 93 93 93 US dollar Alpek Polyester Pernambuco S. A. (6) Brazil 100 100 100 Brazilian real Alpek Polyester Brasil S. A. (7) Brazil 100 100 100 Brazilian real Indelpro, S. A. de C. V. (Indelpro) 51 51 51 US dollar Polioles, S. A. de C. V. (Polioles) 50 50 50 US dollar Grupo Styropek, S. A. de C. V. (Holding Company) 100 100 100 Mexican peso Styropek México, S. A. de C. V. 100 100 100 US dollar Styropek, S. A. Argentina 100 100 100 Argentine peso Aislapol, S. A. Chile 100 100 100 Chilean peso Styropek do Brasil, LTD Brazil 100 100 100 Brazilian real Unimor, S. A. de C. V. (Holding Company) 100 100 100 Mexican peso Univex, S. A. 100 100 100 Mexican peso Alpek Polyester UK LTD United Kingdom 100 100 100 Pound sterling BVPV Styrenics LLC USA 100 100 100 US dollar Octal Oman 100 100 100 US dollar Clear Path Recycling, LLC (7) USA 100 100 - US dollar Agua Industrial del Poniente, S.A. de C.V. (6) 72 56 - Mexican peso Terza S.A. de C.V. (8) 50 - - Mexican peso 14 (1) Companies incorporated in México, except those indicated. (2) Ownership percentage that Alpek has in the holding companies and ownership percentage that such holding companies have in the companies integrating the groups. Ownership percentages and the voting rights are the same. (3) During 2023, DAK Americas LLC changed its legal name to Alpek Polyester USA, LLC. (4) During 2023, Dak Resinas Américas México, S.A. de C.V. changed its legal name to Alpek Polyester México, S.A. de C.V. (5) On March 1, 2024, Alpek Polyester Argentina, S.A. changed its functional currency. As of and for the year ended December 31, 2023, the functional currency was the Argentine peso. (6) On June 13, 2024, Alpek obtained control over this investment in associates, holding 55.6% of the shareholding as of December 31, 2024. The shareholding as of December 31, 2023 and 2022 was 47.6%. (7) On September 1, 2024, Alpek obtained control over this investment in associates, holding 100% of the shareholding as of December 31, 2024. The shareholding as of December 31, 2023 was 49.9%. (8) Entity acquired during 2025 (Note 14). As of December 31, 2025, 2024 and 2023, there are no significant restrictions for investment in shares of subsidiary companies mentioned above. ii. Absorption (dilution) of control in subsidiaries The effect of absorption (dilution) of control in subsidiaries, in example, an increase or decrease in the percentage of control, is recorded in stockholders' equity, directly in retained earnings, in the period in which the transactions that cause such effects occur. The effect of absorption (dilution) of control is determined by comparing the book value of the investment before the event of dilution or absorption against the book value after the relevant event. In the case of loss of control, the dilution effect is recognized in the consolidated income. When the Company issues purchase obligations on certain non-controlling interests in a consolidated subsidiary and non-controlling stockholders retain the risks and awards on these shares in the consolidated subsidiary, these are recognized as financial liabilities for the present value of the refundable amount of the options, initially recorded with a corresponding reduction in the stockholders' equity, and subsequently accruing through financial charges to income during the contractual period. iii. Sale or disposal of subsidiaries When the Company ceases to have control any retained interest in the entity is re-measured at fair value, and the change in the carrying amount is recognized in the consolidated statement of income. The fair value is the initial carrying value for the purposes of accounting for any subsequent retained interest in the associate, joint venture or financial asset. Any amount previously recognized in comprehensive income in respect of that entity is accounted for as if the Company had directly disposed of the related assets and liabilities. This results in the amounts previously recognized in the consolidated comprehensive income being reclassified to the consolidated income for the year. iv. Associates Associates are all entities over which the Company has significant influence but not control. Generally, an investor must hold between 20% and 50% of the voting rights in an investee for it to be an associate. Investments in associates are accounted for using the equity method and are initially recognized at cost. The Company's investment in associates includes goodwill identified at acquisition, net of any accumulated impairment loss. If the equity in an associate is reduced but significant influence is maintained, only a portion of the amounts recognized in the consolidated comprehensive income are reclassified to the consolidated income for the year, where appropriate. 15 The Company's share of profits or losses of associates post-acquisition is recognized in the consolidated statement of income and its share in the consolidated other comprehensive income of associates is recognized as other consolidated comprehensive income. When the Company's share of losses in an associate, equals or exceeds its equity in the associate, including unsecured receivables, the Company does not recognize further losses unless it has incurred obligations or made payments on behalf of the associate. The Company assesses at each reporting date whether there is objective evidence that the investment in the associate is impaired. Unrealized gains on transactions between the Company and its associates are eliminated to the extent of the Company’s equity in such gains. Unrealized losses are also eliminated unless the transaction provides evidence that the asset transferred is impaired. In order to ensure consistency with the policies adopted by the Company, the accounting policies of associates have been modified. When the Company ceases to have significant influence over an associate, any difference between the fair value of the remaining investment, including any consideration received from the partial disposal of the investment and the book value of the investment is recognized in the consolidated statement of income. v. Joint ventures Joint arrangements are those where there is joint control since the decisions over relevant activities require the unanimous consent of each one of the parties sharing control. Investments in joint arrangements are classified in accordance with the contractual rights and obligations of each investor such as: joint operations or joint ventures. When the Company holds the right over assets and obligations for related assets under a joint arrangement, this is classified as a joint operation. When the company holds rights over net assets of the joint arrangement, this is classified as a joint venture. The Company has assessed the nature of its joint arrangements and classified them as joint ventures. Joint ventures are accounted for by using the equity method applied to an investment in associates. The Company evaluates at each reporting date whether there is objective evidence that there are indications of impairment on the joint agreement. If there are indications, it determines the recoverable value based on the requirements of IAS 36 and recognizes an impairment if such recoverable value is below the carrying amount of the joint agreement. c) Foreign currency translation i. Functional and presentation currency The amounts included in the financial statements of each of the Company's subsidiaries, associates and joint ventures should be measured using the currency of the primary economic environment in which the entity operates (the “functional currency"). The consolidated financial statements are presented in Mexican pesos. When there is a change in the functional currency of one of the subsidiaries, according to International Accounting Standard 21, Effects of Changes in Foreign Exchange Rates (“IAS 21”), this change is accounted for prospectively, translating at the date of the functional currency change, all assets, liabilities, equity, and income items at the exchange rate of that date. ii. Transactions and balances Transactions in foreign currencies are translated into the functional currency using the foreign exchange rates prevailing at the transaction date or valuation date when the amounts are re- measured. Gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the closing exchange rates are recognized as foreign exchange gain or loss in the consolidated statement of income, except for those which are deferred in comprehensive income and qualify as cash flow hedges. Changes in the fair value of securities or monetary financial assets denominated in foreign currency classified as available for sale are divided between fluctuations resulting from changes in the amortized cost of such securities and other changes in value. Subsequently, currency fluctuations are recognized in income and changes in the carrying amount arising from any other circumstances are recognized as part of comprehensive income. 16 iii. Translation of subsidiaries with recording currency other than the functional currency The financial statements of foreign subsidiaries having a recording currency different from their functional currency were translated into the functional currency in accordance with the following procedure: a) The balances of monetary assets and liabilities denominated in the recording currency were translated at the closing exchange rate. b) To the historical balances of monetary assets and liabilities and stockholders' equity translated into the functional currency the movements that occurred during the period were added, which were translated at the historical exchange rates. In the case of the movements of non-monetary items recognized at fair value, which occurred during the period, stated in the recording currency, these were translated using the historical exchange rates in effect on the date when the fair value was determined. c) The income, costs and expenses of the periods, expressed in the recording currency, were translated at the historical exchange rate of the date they were accrued and recognized in the consolidated statement of income, except when they arose from non-monetary items, in which case the historical exchange rate of the non-monetary items was used. d) The exchange differences were recognized as income or expense in the consolidated statement of income in the period they arose. iv. Translation of subsidiaries with functional currency other than the presentation currency The results and financial position of all Company entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows, depending on whether the functional currency comes from a non-hyperinflationary or hyperinflationary environment: Non-hyperinflationary environment a) Assets and liabilities for each statement of financial position presented are translated at the closing exchange rate at the date of the statement of financial position; b) Stockholders’ equity of each statement of financial position presented is translated at historical exchange rate; c) Income and expenses for each statement of income are translated at average exchange rate (when the average exchange rate is not a reasonable approximation of the cumulative effect of the rates of the transaction, the exchange rate at the date of the transaction is used); and d) The resulting exchange differences are recognized in the consolidated statement of other comprehensive income as translation effect. Hyperinflationary environment a) Assets, liabilities and equity in the statement of financial position, as well as income and expenses in the income statement, are translated at the closing exchange rate of the statement of financial position, after being restated in its functional currency (Note 3d); and b) Assets, liabilities, equity, income and expenses of the comparative period, are maintained according to the amount obtained in the translation of the year in question, that is, the financial statements of the preceding period. These amounts are not adjusted to subsequent exchange rates because the Company presents its financial information in Mexican pesos, which correspond to a currency of a non-hyperinflationary environment. 17 The primary exchange rates in the various translation processes are listed below: Local currency to Mexican pesos Closing exchange rate as of December 31, Average annual exchange rate Currency 2025 2024 2023 2025 2024 2023 US dollar 17.97 20.27 16.89 19.14 18.52 17.61 Argentine peso 0.01 0.02 0.02 0.02 0.02 0.07 Brazilian real 3.28 3.28 3.48 3.43 3.39 3.53 Chilean peso 0.02 0.02 0.02 0.02 0.02 0.02 Pound sterling 24.16 25.39 21.53 25.25 23.70 21.96 d) Hyperinflationary effects As of July 1, 2018, the cumulative inflation from the prior 3 years in Argentina exceeded 100%; consequently, the Argentine peso was classified as a currency of a hyperinflationary economic environment. As a result, the financial statements of the subsidiaries located in that country, whose functional currency was the Argentine peso, were restated and adjusted for inflation in accordance with the requirements of the International Accounting Standard 29, Financial Information in Hyperinflationary Economies ("IAS 29"), and have been consolidated in compliance with the requirements of IAS 21. The purpose of applying these requirements is to consider changes in the general purchasing power of the Argentine peso in order to present the financial statements in the measuring unit current at the date of the statement of financial position. The financial statements before including any inflation adjustments were prepared using the historical cost method. The Company determined the inflation adjustments in its consolidated financial statements in the following manner: a. The amounts corresponding to non-monetary items of each statement of financial position, which are not measured at the date of the statement of financial position at their fair value or net realizable value, as the case may be, are restated by applying to their historical cost the change of a general price index from the date of acquisition or the date of its last measurement at fair value, to the date of the statement of financial position; b. The amounts corresponding to monetary items of the statement of financial position are not restated; c. The components of stockholders’ equity of each statement of financial position are restated: 1) At the beginning of the first period of application of IAS 29, except for retained earnings, by applying the change of a general price index from the dates the components were originated to the date of restatement. Restated retained earnings are derived from all the other balances in the statement of financial position; 2) At the end of the first period and in subsequent periods, all components of stockholders’ equity are restated by applying a general price index from the beginning of the period or the date of contribution, if later. d. Revenues and expenses are restated by applying the change in the general price index, from the date on which the expenses and revenues were recognized, up to the reporting date. e. Gains or losses arising from the net monetary position are recognized in the consolidated statement of income. The Company reflects the effects of hyperinflation on the financial information of its subsidiaries in Argentina using price indexes that are considered appropriate in accordance with Resolution JG 539/18 (the “Resolution") of the Argentine Federation of Professional Councils of Economic Sciences. This resolution establishes that a combination of price indexes should be used in the calculation of the effects of restatement of financial statements. Therefore, the Company has decided to use the Consumer Price Index (“CPI”) to restate balances and transactions. The net effects of the restatement of the financial statements of the subsidiaries located in Argentina were not material and are presented under the heading of "Financial result, net" for the years ended December 31, 2025, 2024 and 2023. 18 As of March 1, 2024, Alpek Polyester Argentina, S.A., subsidiary of the Company, changed its functional currency from the Argentine peso to the U.S. dollar as it has changed the way it operates, actively seeking risk coverage against future devaluations of the Argentine peso, contemplating a greater operation in U.S. dollars, likewise, there has been less restriction to enter into agreements and collect in a currency other than the Argentine peso, as a result of the elimination of barriers and restrictions that are triggered by Decree 70/2023 that strengthen the nature of the operation in US dollars, among other factors. From the change in the functional currency, all transactions in currencies other than the functional currency are considered "foreign currency transactions". In accordance with the requirements of IAS 21, this change was applied prospectively, therefore Alpek Polyester Argentina converted its assets and liabilities to the new functional currency at the exchange rate of March 1, 2024, and ceased to apply the requirements of IAS 29, considering that the U.S. dollar is not a currency in a hyperinflationary environment. e) Cash and cash equivalents Cash and cash equivalents include cash on hand, bank deposits available for operations and other short- term investments of high liquidity and high credit quality with original maturities of three months or less, all of which are subject to insignificant risk of changes in value. Bank overdrafts are presented as loans as part of the current liabilities. f) Financial instruments Financial assets The Company subsequently classifies and measures its financial assets based on the Company’s business model to manage financial assets, and on the characteristics of the contractual cash flows of such assets. This way financial assets can be classified at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss. Management determines the classification of its financial assets upon initial recognition. Purchases and sales of financial assets are recognized at settlement date. Financial assets are entirely written off when the right to receive the related cash flows expires or is transferred, and the Company also has substantially transferred all the risks and rewards of its ownership, as well as the control of the financial asset. Classes of financial assets i. Financial assets at amortized cost Financial assets at amortized cost are those that i) are held within a business model whose objective is to hold said assets in order to collect contractual cash flows; and ii) the contractual terms of the financial asset give rise, on specified dates, to cash flows that are solely payments of principal and interest on the amount of outstanding principal. ii. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if it is mainly acquired for the purpose of being sold in the short term. Derivatives are also classified as held for trading unless they are designated as hedges. In addition are those that do not meet the characteristics to be measured at amortized cost or fair value through other comprehensive income, since: i) they have a business model different to those that seek to collect contractual cash flows or collect contractual cash flows and sell the financial assets, or otherwise ii) the generated cash flows are not solely payments of principal and interest on the amount of outstanding principal. Impairment of financial assets The Company uses an impairment model based on expected credit losses rather than losses incurred, applicable to financial assets subject to such assessment (i.e., financial assets measured at amortized cost and at fair value through other comprehensive income), as well as lease receivables, contract assets, certain written loan commitments, and financial guarantee contracts. The expected credit losses on these financial assets are estimated from the initial recognition of the asset at each reporting date, using as a reference the past experience of the Company's credit losses, adjusted for factors that are specific to the debtors or groups of debtors, general economic conditions, and an assessment of both the current direction and the forecast of future conditions. 19 a. Trade receivables The Company adopted the simplified expected loss calculation model, through which expected credit losses during the account receivable’s lifetime are recognized. The Company performs an analysis of its portfolio of customer receivables, in order to determine if there are significant customers for whom it requires an individual assessment; meanwhile, customers with similar characteristics that share credit risks (participation in the portfolio of accounts receivable, type of market, sector, geographic area, etc.), are grouped to be evaluated collectively. In its impairment assessment, the Company may include indications that the debtors or a group of debtors are experiencing significant financial difficulties, and also observable data indicating that there is a significant decrease in the estimated cash flows to be received, including arrears. For purposes of the historical estimate, the Company considers that the following constitutes an event of default, since historical experience indicates that financial assets are not recoverable when they meet any of the following criteria: • The debtor does not fulfill its financial agreements; or • Information obtained internally or from external sources indicates that it is unlikely that the debtor will pay its creditors, including the Company, in its entirety (without considering any guarantee held by the Company). The Company defined the breach threshold as the period from which the recovery of the account receivable subjected to analysis is marginal, which is in line with internal risk management. b. Other financial instruments The Company recognizes credit losses expected during the asset’s lifetime of all financial instruments for which credit risk has significantly increased since its initial recognition (assessed on a collective or individual basis), considering all the reasonable and sustainable information, including the one referring to the future. If at the presentation date, the credit risk a financial instrument has not significantly increased since its initial recognition, the Company calculates the loss allowance for that financial instrument as the amount of expected credit losses in the following 12 months. In both cases, the Company recognizes in profit or loss of the period the decrease or increase in the expected credit loss allowance at the end of the period. Management assesses the impairment model and the inputs used therein at least once every 3 months, in order to ensure that they remain in effect based on the current situation of the portfolio. Financial liabilities Non-derivative financial liabilities are initially recognized at fair value and are subsequently valued at amortized cost using the effective interest method. Liabilities in this category are classified as current liabilities if expected to be settled within the next 12 months, otherwise they are classified as non-current. Trade payables are obligations to pay for goods or services that have been acquired or received from suppliers in the ordinary course of business. Loans are initially recognized at fair value, net of transaction costs incurred. Loans are subsequently carried at amortized cost; any difference between the funds received (net of transaction costs) and the settlement value is recognized in the consolidated statement of income over the term of the loan using the effective interest method. Derecognition of financial liabilities The Company derecognizes financial liabilities if, and only if, the obligations of the Company are fulfilled, cancelled or have expired. The difference between the carrying amount of the derecognized financial liability and the consideration paid and payable is recognized in profit or loss. Additionally, when the Company carries out a refinancing transaction and the previous liability qualifies to be derecognized, the costs incurred in the refinancing are recognized immediately in profit or loss at the date of termination of the previous financial liability. 20 Offsetting financial assets and liabilities Assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when the right to offset the recognized amounts is legally enforceable and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously. g) Derivative financial instruments and hedging activities All derivative financial instruments are identified and classified as fair value hedges or cash flow hedges, for trading or the hedging of market risks and are recognized in the consolidated statement of financial position as assets and/or liabilities at fair value and similarly measured subsequently at fair value. The fair value is determined based on recognized market prices and its fair value is determined using valuation techniques accepted in the financial sector. The fair value of hedging derivatives is classified as a non-current asset or liability if the remaining maturity of the hedged item is more than 12 months and as a current asset or liability if the remaining maturity of the hedged item is less than 12 months. Derivative financial instruments classified as hedges are contracted for risk hedging purposes and meet all hedging requirements; their designation at the beginning of the hedging operation is documented, describing the objective, primary position, risks to be hedged and the effectiveness of the hedging relationship, characteristics, accounting recognition and how the effectiveness is to be measured. Cash flow hedges The changes in the fair value of derivative instruments associated to cash flow hedges are recorded in stockholders' equity. The effective portion is temporarily recorded in comprehensive income, within stockholders' equity and is reclassified to profit or loss when the hedged position affects these. The ineffective portion is immediately recorded in income. Net investment hedge in a foreign transaction The Company applies the hedge accounting to currency risk arising from its investments in foreign transactions for variations in exchange rates arising between the functional currency of such transaction and the functional currency of the holding entity, regardless of whether the investment is maintained directly or through a sub-holding entity. Variation in exchange rates is recognized in the other items of comprehensive income as part of the translation effect, when the foreign transaction is consolidated. To this end, the Company designates the debt denominated in a foreign currency as a hedging instrument; therefore, the exchange rate effects caused by the debt are recognized in other components of comprehensive income, on the translation effects line item, to the extent that the hedge is effective. When the hedge is not effective, exchange differences are recognized in profit or loss. Suspension of hedge accounting The Company suspends hedge accounting when the derivative financial instrument or the non- derivative financial instrument has expired, is cancelled or exercised, when the derivative or non- derivative financial instrument is not highly effective to offset the changes in the fair value or cash flows of the hedged item. The replacement or successive renewal of a hedging instrument for another one is not an expiration or resolution if such replacement or renewal is part of the Company's documented risk management objective, and it is consistent with this. On suspending hedge accounting, in the case of fair value hedges, the adjustment to the carrying amount of a hedged amount for which the effective interest rate method is used is amortized to income over the period to maturity. In the case of cash flow hedges, the amounts accumulated in equity as a part of comprehensive income remain in equity until the time when the effects of the forecasted transaction affect income. In the event the forecasted transaction is not likely to occur, the income or loss accumulated in comprehensive income are immediately recognized in the consolidated statement of income. When the hedge of a forecasted transaction appears satisfactory and subsequently does not meet the effectiveness test, the cumulative effects in comprehensive income in stockholders' equity are transferred proportionally to the consolidated statement of income, to the extent the forecasted transaction impacts it. The fair value of derivative financial instruments reflected in the consolidated financial statements of the Company is a mathematical approximation of their fair value. It is computed using proprietary models of independent third parties using assumptions based on past and present market conditions and future expectations at the closing date. 21 h) Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the average cost method. The cost of finished goods and work-in-progress includes cost of product design, raw materials, direct labor, other direct costs and production overheads (based on normal operating capacity). It excludes borrowing costs. The net realizable value is the estimated selling price in the normal course of business, less the applicable variable selling expenses. Costs of inventories include any gain or loss transferred from other comprehensive income corresponding to raw material purchases that qualify as cash flow hedges. i) Property, plant and equipment Items of property, plant and equipment are recorded at cost less the accumulated depreciation and any accrued impairment losses. The costs include expenses directly attributable to the asset acquisition. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be reliably measured. The carrying amount of the replaced part is derecognized. Repairs and maintenance are recognized in the consolidated statement of income during the year they are incurred. Major improvements are depreciated over the remaining useful life of the related asset. When the Company carries out major repairs or maintenance of its property, plant and equipment assets, the cost is recognized in the book value of the corresponding asset as a replacement, provided that the recognition criteria are met. The remaining portion of any major repair or maintenance is derecognized. The Company subsequently depreciates the recognized cost in the useful life assigned to it, based on its best estimate of useful life. Depreciation is calculated using the straight-line method, considering separately each of the asset's components, except for land, which is not subject to depreciation. The estimated useful lives of the classes of assets are as follows: Buildings and constructions 40 to 50 years Machinery and equipment 10 to 40 years Vehicles 15 years Furniture and lab and IT equipment 2 to 13 years Other 20 years The spare parts to be used after one year and attributable to specific machinery are classified as property, plant and equipment in other fixed assets. Borrowing costs related to financing of property, plant and equipment whose acquisition or construction requires a substantial period (nine months), are capitalized as part of the cost of acquiring such qualifying assets, up to the moment when they are suitable for their intended use or sale. Assets classified as property, plant and equipment are subject to impairment tests when events or circumstances occur indicating that the carrying amount of the assets may not be recoverable. An impairment loss is recognized in the consolidated statement of income in other expenses, net, for the amount by which the carrying amount of the asset exceeds its recoverable amount. The recoverable amount is the higher of fair value less costs to sell and value in use. The residual value and useful lives of assets are reviewed at least at the end of each reporting period and, if expectations differ from previous estimates, the changes are accounted for as a change in accounting estimate. Gains and losses on disposal of assets are determined by comparing the sale value with the carrying amount and are recognized in other expenses, net, in the consolidated statement of income. 22 j) Leases The Company as lessee The Company evaluates whether a contract is or contains a lease agreement at inception of a contract. A lease is defined as an agreement or part of an agreement that conveys the right to control the use of an identified asset for a period of time in exchange for a consideration. The Company recognizes an asset for right-of-use and the corresponding lease liability, for all lease agreements in which it acts as lessee, except in the following cases: short-term leases (defined as leases with a lease term of less than 12 months); leases of low-value assets (defined as leases of assets with an individual market value of less than US$5,000 (five thousand dollars)); and, lease agreements whose payments are variable (without any contractually defined fixed payment). For these agreements, which exempt the recognition of an asset for right-of-use and a lease liability, the Company recognizes the rent payments as an operating expense in a straight-line method over the lease period. The right-of-use asset comprises all lease payments discounted at present value; the direct costs to obtain a lease; the advance lease payments; and the obligations of dismantling or removal of assets. The Company depreciates the right-of-use asset over the shorter of the lease term or the useful life of the underlying asset; therefore, when the lessee will exercise a purchase option, the lessee shall depreciate the right-of-use asset from the commencement date to the end of the useful life of the underlying asset. Depreciation begins on the lease commencement date. The lease liability is initially measured at the present value of the future minimum lease payments that have not been paid at that date, using a discount rate that reflects the cost of obtaining funds for an amount similar to the value of the lease payments, for the acquisition of the underlying asset, in the same currency and for a similar period to the corresponding contract (incremental borrowing rate). When lease payments contain non-lease components (services), the Company has chosen, for some class of assets, not to separate them and measure all payments as a single lease component; however, for the rest of the class of assets, the Company measures the lease liability only considering lease payments, while all of the services implicit in the payments, are recognized directly in the consolidated statement of income as operating expenses. To determine the lease term, the Company considers the non-cancellable period, including the probability to exercise any right to extend and/or terminate the lease term. Subsequently, the lease liability is measured increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and reducing the carrying amount to reflect the lease payments made. When there is a modification in future lease payments resulting from changes in an index or a rate used to determine those payments, the Company remeasures the lease liability when the adjustment to the lease payments takes effect, without reassessing the discount rate. However, if the modifications are related to the lease term or exercising a purchase option, the Company reassesses the discount rate during the liability’s remeasurement. Any increase or decrease in the value of the lease liability subsequent to this remeasurement is recognized as an adjustment to the right-of-use asset to the same extent. Finally, the lease liability is derecognized when the Company fulfills all lease payments. When the Company determines that it is probable that it will exercise an early termination of the contract that leads to a cash disbursement, such disbursement is accounted as part of the liability’s remeasurement mentioned in the previous paragraph; however, in cases in which the early termination does not involve a cash disbursement, the Company cancels the lease liability and the corresponding right-of-use asset, recognizing the difference immediately in the consolidated statement of income. k) Intangible assets Intangible assets are recognized in the consolidated statement of financial position when they meet the following conditions: they are identifiable, provide future economic benefits and the Company has control over such benefits. Intangible assets are classified as follows: i. Indefinite useful life These intangible assets are not amortized and are subject to annual impairment assessment. As of December 31, 2025, 2024 and 2023, no factors have been identified limiting the life of these intangible assets. 23 ii. Finite useful life These assets are recognized at cost less the accumulated amortization and impairment losses recognized. They are amortized on a straight-line basis over their estimated useful life, determined based on the expectation of generating future economic benefits, and are subject to impairment tests when triggering events of impairment are identified. Development costs 15.5 years Non-compete agreements 5 to 10 years Customer relationships 6 to 7 years Patents 10 years Software and licenses 3 to 7 years Intellectual property 20 to 25 years Defined life brands 5 to 22 years Development costs Research costs are recognized in income as incurred. Expenditures for development activities are recognized as intangible assets when such costs can be reliably measured, the product or process is technically and commercially feasible, potential future economic benefits are obtained and the Company intends and also has sufficient resources to complete the development and to use or sell the asset. Their amortization is recognized in income by the straight-line method over the estimated useful life of the asset. Development expenditures that do not qualify for capitalization are recognized in income as incurred. Licenses Licenses acquired in a separate transaction are recorded at acquisition cost, while those acquired in a business combination are recognized at fair value at acquisition date. Licenses that have a defined useful life are presented at cost less accumulated amortization. Amortization is recorded by the straight-line method over its estimated useful life. The acquisition of software licenses is capitalized based on the costs incurred to acquire and use the specific software. Software development Costs associated with the maintenance of software are recorded as expenses as incurred. Development costs directly related with the design and tests of unique and identifiable software products controlled by the Company are recorded as intangible assets when they fulfill the following criteria: - Technically, it is possible to complete the intangible asset so that it may be available for its use or sale; - The intangible asset is to be completed for use or sale; - The ability to use or sell the intangible asset; - The way in which the intangible asset is to generate probable future economic benefits; - The availability of adequate technical, financial or other type of resources, to complete the development and use or sell the intangible asset; and - The ability to reliably calculate the disbursement attributable to the intangible asset during its development. The amount initially recognized for an intangible asset generated internally will be the sum of disbursements incurred from the moment the element fulfills the conditions for recording, as established above. When no intangible asset internally generated may be recognized, the disbursements for development are charged to income in the period they are incurred. l) Goodwill Goodwill represents the excess of the acquisition cost of a subsidiary over the Company's equity in the fair value of the identifiable net assets acquired, determined at the date of acquisition, and is not subject to amortization. Goodwill is shown under goodwill and intangible assets and is recognized at cost less accumulated impairment losses, which are not reversed. Gains or losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. 24 m) Impairment of non-financial assets Assets that have an indefinite useful life, for example, goodwill, are not amortizable or depreciable and are subject to annual impairment tests. Assets that are subject to amortization and depreciation are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the asset's fair value less costs to sell and its value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels at which separately identifiable cash flows exist (cash generating units). Non-financial long-term assets other than goodwill that have suffered impairment are reviewed for possible reversal of the impairment at each reporting date. When an impairment loss is reversed, the carrying amount of the asset or cash generating unit, is increased to the revised estimated value of its recoverable amount, in such a way that the adjusted carrying amount does not exceed the carrying amount that would have been determined if an impairment loss had not been recognized for that asset or cash generating unit in previous years. The reversal of an impairment loss is recognized immediately in the consolidated statement of income. n) Income tax The amount of income taxes in the consolidated statement of income represents the sum of the current and deferred income taxes. The amount of income taxes included in the consolidated statement of income represents the current tax and the effects of deferred income tax assets determined in each subsidiary by the asset and liability method, applying the rate established by the legislation enacted or substantially enacted at the consolidated statement of financial position date, wherever the Company operates and generates taxable income. The applicable rates are applied to the total temporary differences resulting from comparing the accounting and tax bases of assets and liabilities, and that are expected to be applied when the deferred tax asset is realized or the deferred tax liability is expected to be settled, considering, when applicable, any tax-loss carryforwards, prior to the recovery analysis. The effect of the change in current tax rates is recognized in current income of the period in which the rate change is determined. Management periodically evaluates positions taken in tax returns with respect to situations in which the applicable law is subject to interpretation. Provisions are recognized when appropriate, based on the amounts expected to be paid to the tax authorities. Deferred tax assets are recognized only when it is probable that future taxable profits will exist against which the deductions for temporary differences can be taken. The deferred income tax on temporary differences arising from investments in subsidiaries and associates is recognized, unless the period of reversal of temporary differences is controlled by the Company and it is probable that the temporary differences will not reverse in the near future. Deferred tax assets and liabilities are offset when a legal right exists, and when the taxes are levied by the same tax authority. o) Employee benefits i. Pension plans Defined contribution plans: A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. The Company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to their service in the current and past periods. The contributions are recognized as employee benefit expense on the date that is required the contribution. Defined benefit plans: A defined benefit plan is a plan, which specifies the amount of the pension an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. 25 The liability recognized in the consolidated statement of financial position in respect of defined benefit plans is the present value of the defined benefit obligation at the consolidated statement of financial position date less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using discount rates in conformity with IAS 19, Employee Benefits, that are denominated in the currency in which the benefits will be paid and have maturities that approximate the terms of the pension liability. Actuarial gains and losses from adjustments and changes in actuarial assumptions are recognized directly in other items of the comprehensive income in the year they occur and will not be reclassified to the results of the period. The Company determines the net finance expense (income) by applying the discount rate to the liabilities (assets) from net defined benefits. Past-service costs are recognized immediately in the consolidated statement of income. ii. Post-employment medical benefits The Company provides medical benefits to retired employees after termination of employment. The right to access these benefits usually depends on the employee’s having worked until retirement age and completing a minimum of years of service. The expected costs of these benefits are accrued over the period of employment using the same criteria as those described for defined benefit pension plans. iii. Termination benefits Termination benefits are payable when employment is terminated by the Company before the normal retirement date or when an employee accepts voluntary termination of employment in exchange for these benefits. The Company recognizes termination benefits in the first of the following dates: (a) when the Company can no longer withdraw the offer of these benefits, and (b) when the Company recognizes the costs from restructuring within the scope of the IAS 37 and it involves the payment of termination benefits. If there is an offer that promotes the termination of the employment relationship voluntarily by employees, termination benefits are valued based on the number of employees expected to accept the offer. The benefits that will be paid in the long term are discounted at their present value. iv. Short-term benefits The Company grants benefits to employees in the short term, which may include wages, salaries, annual compensation and bonuses payable within 12 months. The Company recognizes an undiscounted provision when it is contractually obligated or when past practice has created an obligation. v. Employee participation in profit and bonuses The Company recognizes a liability and an expense for bonuses and employee participation in profits when it has a legal or assumed obligation to pay these benefits and determines the amount to be recognized based on the profit for the year after certain adjustments. p) Provisions Provisions represent a present legal obligation or a constructive obligation as a result of past events where an outflow of resources to meet the obligation is likely and where the amount has been reliably estimated. Provisions are not recognized for future operating losses. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the value of money over time and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as interest expense. When there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. 26 A restructuring provision is recorded when the Company has developed a formal detailed plan for the restructure, and a valid expectation for the restructure has been created between the people affected, possibly for having started the plan implementation or for having announced its main characteristics to them. q) Share based payment The Company's compensation plans are based 100% on the market value of the shares of Alpek SAB, granted to certain senior executives of the Company and its subsidiaries. The conditions for granting such compensation to the eligible executives include compliance with certain financial metrics such as the level of profit achieved and remaining in the Company for up to 5 years, among other requirements. The Board of Directors of the Company has appointed a technical committee to manage the plan, and it reviews the estimated cash settlement of this compensation at the end of the year. The payment plan is subject to the discretion of Alpek’s senior Management. Adjustments to this estimate are charged or credited to the consolidated statement of income. The fair value of the amount payable to employees in respect of share-based payments which are settled in cash is recognized as an expense, with a corresponding increase in liabilities, over the period of service required. The liability is included within other liabilities and is adjusted at each reporting date and the settlement date. Any change in the fair value of the liability is recognized as compensation expense in the consolidated statement of income. r) Capital stock When treasury shares are repurchased, they are converted into treasury shares and the amount is charged to stockholders' equity at their purchase price. These amounts are expressed at their historical value. Alpek SAB's common shares are classified as capital stock within stockholders’ equity. Incremental costs directly attributable to the issuance of new shares are included in equity as a reduction from the consideration received, net of tax. s) Revenue recognition Revenues comprise the fair value of the consideration received or to receive for the sale of goods and services in the ordinary course of the transactions, and are presented in the consolidated statement of income, net of the amount of variable considerations, which comprise the estimated amount of returns from customers, rebates and similar discounts and payments made to customers with the objective that goods are accommodated in attractive and favorable spaces at their facilities. To recognize revenues from contracts with customers, the comprehensive model for revenue recognition is used, which is based on a five-step approach consisting of the following: (1) identify the contract; (2) identify performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when the Company satisfies a performance obligation. i. Revenue from the sale of goods and products Contracts with customers are formalized by commercial agreements complemented by purchase orders, whose costs comprise the promises to produce, distribute and deliver goods based on the contractual terms and conditions set forth, which do not imply a significant judgment to be determined. When there are payments related to obtaining contracts, they are capitalized and amortized over the term of the contract. Performance obligations held by the Company are not separable, and are not partially satisfied, since they are satisfied at a point in time, when the customer accepts the products. Moreover, the payment terms identified in most sources of revenue are short-term, with variable considerations including discounts given to customers, without financing components or guarantees. These discounts are recognized as a reduction in revenue; therefore, the allocation of the price is directly on the performance obligations of production, distribution and delivery, including the effects of variable consideration. The Company recognizes revenue at a point in time, when control of sold goods has been transferred to the customer, which is given upon delivery of the goods promised to the customer according to the negotiated contractual terms. The Company recognizes an account receivable when the performance obligations have been met, recognizing the corresponding revenue; moreover, the considerations received before completing the performance obligations of production and distribution are recognized as customer advances. 27 Dividend income from investments is recognized once the rights of stockholders to receive this payment have been established (when it is probable that the economic benefits will flow to the Company and the revenue can be reliably determined). t) Earnings per share Earnings per share are calculated by dividing the profit attributable to the stockholders of the controlling interest by the weighted average number of common shares outstanding during the year. As of December 31, 2025, 2024 and 2023, there are no dilutive effects from financial instruments potentially convertible into shares. u) Changes in accounting policies and disclosures i. New standards and changes adopted In the current year, the Company has applied a number of amendments to IFRS Accounting Standards issued by the IASB that are mandatorily effective for an accounting period that begins on or after January 1, 2025. The conclusions related to their adoption are described as follows: Amendments to IAS 21 – Lack of Exchangeability The amendments specify when a currency is exchangeable for another currency and when it is not. A currency is exchangeable when an entity can convert that currency into another currency through markets or exchange mechanisms that create enforceable rights and obligations without undue delay at the measurement date and for a specific purpose. A currency is not exchangeable for another currency if an entity can obtain only an insignificant amount of the other currency at the measurement date for the intended purpose. The amendments specify how an entity determines the exchange rate to apply when a currency is not exchangeable. The amendments require additional disclosures that allow users of the financial statements to assess how the lack of exchangeability of a currency affects, or is expected to affect, the entity’s financial performance, financial position, and cash flows. The Company did not have any effects on its consolidated financial statements arising from these amendments to IAS 21. ii. New, revised and issued IFRS, but not yet effective As of the date of these consolidated financial statements, the Company had not applied the following amendments to the IFRS that have been issued, but are not yet effective, and the adoption of these amendments, except for IFRS 18, is not expected to have a material impact on the consolidated financial statements in future periods, considering that they are not of significant applicability. The amendments to the IFRS are included below: • Amendments to IFRS 7 and IFRS 9 - Classification and Measurement of Financial Instruments (1) • Amendments to IFRS 7 and IFRS 9 – Nature-dependent Electricity Contracts (1) • Annual Improvements to IFRS Accounting Standards – Volume 11 – Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and its Implementation Guidance, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements, and IAS 7 Statement of Cash Flows. (1) • IFRS 19 – Subsidiaries without Public Accountability: Disclosures (2) • IAS 21 – Translation to a Hyperinflationary Presentation Currency(2) (1) Effective for annual periods beginning on or after January 1, 2026. (2) Effective for annual periods beginning on or after January 1, 2027. IFRS 18 – Presentation and Disclosure in Financial Statements IFRS 18 replaces IAS 1, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements. In addition, some IAS 1 paragraphs have been moved to IAS 8 and IFRS 7. Furthermore, the IASB has made minor amendments to IAS 7 and IAS 33. 28 IFRS 18 introduces new requirements to: •Present specified categories and defined subtotals in the statement of profit or loss •Provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements •Improve aggregation and disaggregation The IFRS 18 is effective for annual periods beginning on or after 1 January 2027. Early adoption is permitted. The amendments to IAS 7, IAS 33, IAS 8 and IFRS 7 are effective when an entity first adopts IFRS 18. An entity is required to apply IFRS 18 retrospectively by applying the temporary specific terms. The Company is conducting an analysis to determine the applicable amendments to the presentation of the consolidated income statement and the consolidated statement of cash flows, and to identify the MPMs to be disclosed within its consolidated financial statements. 4. Financial instruments and risk management The Company’s activities expose it to various financial risks: market risk (including exchange rate risk, price risk and interest rate variation risk), credit risk and liquidity risk. The Company has a general risk management program focused on the unpredictability of financial markets and seeks to minimize the potential adverse effects on its financial performance. The objective of the risk management program is to protect the financial health of its business, taking into account the volatility associated with foreign exchange and interest rates. Sometimes, the Company uses derivative financial instruments to hedge certain exposures to risks. In addition, due to the nature of the industries in which it participates, the Company has performed hedges of input prices with derivative financial instruments. Alpek has a Risk Management Committee (“RMC”), comprised of the Board’s Chairman, the Chief Executive Officer, Chief Financial Officer and a Risk Management Officer acting as technical secretary. The RMC reviews derivative transactions proposed by the Company, in which a potential loss analysis surpasses US$1 million. This Committee supports both the CEO and the President of Board of the Company. All new derivative transactions which the Company proposes to enter into, as well as the renewal or cancellation of derivative arrangements, must be approved by Alpek’s CEO, according to the following schedule of authorizations: Maximum possible loss US$1 Individual transaction Annual cumulative transactions Chief Executive Officer of the Company 1 5 Risk Management Committee of the Company 30 100 Finance Committee 100 300 Board of Directors >100 >300 The proposed transactions must meet certain criteria, including that the hedges are lower than established risk parameters, that they are the result of a detailed analysis and are properly documented. In addition, sensitivity analysis and other risk analyses should be performed and documented prior to the operation. Alpek's risk management policy indicates that hedging positions should always be less than the projected exposure to allow an acceptable margin of uncertainty. Exposed transactions are expressly prohibited. The Company’s policy indicates that the further the exposure is, the lower the coverage, based on the following table: Maximum coverage (as a percentage of the projected exposure) Current year Commodities 100 Energy costs 75 Exchange rate for operating transactions 80 Exchange rate for financial transactions 100 Interest rates 100 29 Capital management The Company’s objectives when managing capital is to safeguard its ability to continue as a going concern, so that it can continue to provide returns to stockholders and benefits to other stakeholders, as well as maintaining an optimal capital structure to reduce the cost of capital. To maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to stockholders, return equity to stockholders, issue new shares or sell assets to reduce debt. Alpek reviews capital based on a leverage ratio. This percentage is calculated by dividing total liabilities by total stockholders’ equity. The financial ratio of total liabilities/total equity was 2.57, 2.48 and 2.09 as of December 31, 2025, 2024 and 2023, respectively, resulting in a leverage ratio that meets the Company’s management and risk policies. Financial instruments by category The following are the Company’s financial instruments by category. As of December 31, 2025, 2024 and 2023, financial assets and liabilities consist of the following: (1) The Company designated the derivative financial instruments that comprise this balance as accounting hedges, in accordance with what is described later in this note. Fair value of financial assets and liabilities valued at amortized cost The amount of cash and cash equivalents, restricted cash, trade and other accounts receivable, other current assets, trade and other accounts payable, current debt and other current liabilities approximate their fair value, due to their short maturity. The net carrying amount of these accounts represents the expected cash flows to be received as of December 31, 2025, 2024 and 2023. The carrying amount and estimated fair value of assets and liabilities valued at amortized cost is presented below: As of December 31, 2025 As of December 31, 2024 As of December 31, 2023 Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial assets: Non-current accounts receivable $ 1,696 $ 1,696 $ 3,148 $ 3,148 $ 2,456 $ 2,453 Financial liabilities: Non-current debt 35,580 33,241 38,956 36,277 32,702 30,484 As of December 31, 2025 2024 2023 Cash and cash equivalents $ 8,043 $ 6,216 $ 7,391 Restricted cash 7 386 322 Financial assets measured at amortized cost: Trade and other accounts receivable 10,742 14,481 13,236 Other non-current assets 2,051 3,763 3,140 Financial assets measured at fair value through profit or loss Derivate financial instruments (1) 158 14 95 $ 21,001 $ 24,860 $ 24,184 Financial liabilities measured at amortized cost: Debt $ 37,680 $ 40,570 $ 33,337 Trade and other accounts payable 24,242 29,529 25,995 Lease liability 3,362 4,104 3,456 Financial liabilities measured at fair value: Derivative financial instruments (1) 308 839 265 $ 65,592 $ 75,042 $ 63,053 30 The carrying amount of the debt, for the purpose of computing its fair value, is presented gross of interest payable and issuance costs. The estimated fair values as of December 31, 2025, 2024, and 2023, of the Senior Notes are based on quoted prices (unadjusted) in active markets for identical assets or liabilities; therefore, they have been classified within Level 1 of the fair value measurement hierarchy. On the other hand, the estimated fair value of bank loans as of December 31, 2025, 2024, and 2023, was determined based on discounted cash flows, using the Interbank Equilibrium Interest Rate (“TIIE”) for instruments in pesos, the Secured Overnight Financing Rate (“SOFR”) for term instruments in U.S. dollars, and the Euro Interbank Offered Rate (“Euribor”) for instruments in euros. The fair value measurement of bank loans is considered within Level 2 of the fair value hierarchy. Measurement at fair value for non-current accounts receivable is deemed within Level 3 of the fair value hierarchy. Market risks (i) Exchange rate risk The Company is exposed to foreign exchange risk, primarily derived from the transactions and balances that the subsidiaries conduct and have in foreign currency, respectively. A foreign currency is that which is different from the functional currency of an entity. In addition, the Company is exposed to changes in the value of foreign investments (subsidiary entities that have a functional currency different from that of the ultimate holding company), which arise from changes in the exchange rates between the functional currency of the foreign operation and the functional currency of the holding company (pesos); therefore, the Company applies hedge accounting to mitigate this risk, designating financial liabilities as hedging instruments, regardless of whether the foreign investment is directly or indirectly maintained through a subholding. The behavior of the exchange rates fluctuations between the Mexican peso, U.S. dollar and the euro represents an important factor for the Company due to the effect that such currencies have on its consolidated results, and because, in addition, Alpek has no interference in its determination. Historically, in certain times when the Mexican peso has appreciated against other currencies, such as the U.S. dollar, the Company’s profit margins have been reduced. On the other hand, when the Mexican peso has lost value, Alpek’s profit margins have been increased. However, there is no assurance that this correlation will be repeated in case the exchange rate between the Mexican peso and any other currency fluctuates again, because these effects also depend on the balances in foreign currency that the entities of the Company hold. Accordingly, the Company sometimes enters into derivative financial instruments in order to keep under control the integrated total cost of its financing and the volatility associated with exchange rates. Additionally, as most of the Company’ revenues are in U.S. dollars, there is a natural hedge against its obligations in U.S. dollars. The Company has the following assets and liabilities in foreign currency in relation to the functional currency of the subsidiary entities, translated to millions of Mexican pesos at the closing exchange rate as of December 31, 2025: MXN USD EUR Financial assets $22,154 $ 3,445 $ 381 Financial liabilities (21,747) (12,805) (56) Foreign exchange financial position $ 407 $(9,360) $ 325 The exchange rates used to translate the foreign currency financial positions to Mexican pesos are those described in Note 3c. Based on the financial positions in foreign currency maintained by the Company, a hypothetical variation of 10% in the MXN/USD and MXN/EUR exchange rate and keeping all other variables constant, would result in an effect of $863 on the consolidated statement of income and consolidated stockholders' equity. Financial instruments to hedge net investments in foreign transactions The Company designated certain non-current debt instruments as hedging instruments to net investments in foreign transactions, in order to mitigate the variations in exchange rates arising between the functional currency for such transactions and the functional currency of the holding or sub-holding company that maintains these investments. 31 The Company formally designated and documented each hedging relationship establishing objectives, strategy to hedge the risk, the identification of the hedging instrument, the hedged item, the nature of the risk to be hedged, and the methodology to assess the effectiveness. Given that the exchange rate hedging relationship is clear, the method that the Company used to assess the effectiveness consisted of a qualitative effectiveness test by comparing the critical terms between the hedging instruments and the hedged items. The hedge will be effective as long as the notional debt designated as a hedging instrument is equal to or less than the value of the net assets of the covered foreign operation. On the other hand, when the value of the net assets of the foreign operation is less than the notional value of the designated debt, the Company rebalances the hedging relationship and recognizes the ineffectiveness in the income statement. As of December 31, 2025, 2024 and 2023, Alpek maintains the following hedging relationships: As of December 31, 2025 Holding Functional Currency Hedging Instrument Notional Value Hedged Item Net assets of the hedged item Alpek SAB MXN Bank loan US$ 200 Indelpro US$ 217 Bank loan 110 Temex (50) Senior Notes 144A fixed rate 22 Alpek Polyester Ms 239 Senior Notes 144A fixed rate 100 Alpek Polyester México 52 Akra Polyester 81 US$ 432 US$ 539 As of December 31, 2024 Holding Functional Currency Hedging Instrument Notional Value Hedged Item Net assets of the hedged item Alpek SAB MXN Bank loan US$ 200 Indelpro US$ 214 Bank loan 96 Temex 82 Senior Notes 144A fixed rate 22 Alpek Polyester Ms 239 Senior Notes 144A fixed rate 100 Alpek Polyester México 12 Akra Polyester 107 US$ 418 US$ 654 As of December 31, 2023 Holding Functional Currency Hedging Instrument Notional Value Hedged Item Net assets of the hedged item Alpek SAB MXN Bank loan US$ 200 Indelpro US$ 254 Bank loan 100 Temex 22 Senior Notes 144A fixed rate 22 Alpek Polyester Ms 251 Senior Notes 144A fixed rate 100 Alpek Polyester México 95 Akra Polyester 120 US$ 422 US$ 742 For the years ended December 31, 2025, 2024 and 2023, the Company’s average hedging ratio amounted to 74%, 57.9%, and 56.3%, respectively. Therefore, the exchange rate fluctuation generated by the hedging instruments for the years ended December 31, 2025, 2024 and 2023 amounted to a net (loss) gain of $(234), $(1,325), and $873, respectively, which was recognized in other comprehensive income, offsetting the translation effect generated by each foreign investment. The hedging effectiveness results confirm that the hedging relationships are highly effective due to the economic relationship between the hedging instrument and the hedged items. Derivative financial instruments to hedge exchange rate risks As of December 31, 2023, the Company holds forwards (EUR/USD) and during 2023 contracted forwards (GBP/USD), to hedge different needs. For 2023, these forwards are mirrored to an entity with the functional currency of pound sterling (GBP), because part of its revenue is received in euros and part of its purchases are made in US dollars. Therefore, a highly probable forecasted transaction related to budgeted sales and purchases in each corresponding currency has been documented as a hedged item. As of December 31, 2024, these hedges expired naturally. 32 For accounting purposes, the Company has designated such forwards as cash flow hedging relationships to hedge the aforementioned items, and has formally documented these relationships, setting the objectives, management's strategy to hedge the risk, identification of hedging instruments, hedged items, the nature of the risk to be hedged and the methodology of the effectiveness assessment. The conditions of the derivative financial instruments and the considerations of their valuation as hedging instruments are mentioned below: Forwards EUR/USD Characteristics 2025 2023 2023 Currency EUR GBP EUR Notional amount 2 10 29 Strike (average) 1.1583 1.2639 1.0877 Maturity Monthly through July 2026 Monthly through December 30, 2024 Monthly through December 30, 2024 Carrying amount $(1) $(0) $(8) Change in the fair value to measure ineffectiveness $1 $(2) $(10) Reclassification from OCI to profit or loss - - - Recognized in OCI, net of reclassifications $(1) $(0) $(8) Change in the fair value of the hedged item to measure ineffectiveness $(1) $2 $10 Change in the fair value of the forward $(1) $(0) $(5.7) As of December 31, 2023, the Company held EUR/USD forwards that were contracted with the objective of reducing transaction costs; therefore, for accounting purposes and for hedge evaluation, derivatives are divided into synthetic derivatives to hedge each hedged item individually (revenue in euros and purchases in dollars). During 2023, the Company also contracted EUR/GBP forwards directly for this same hedging relationship. The Company determined that they are highly effective according to the characteristics and modeling of both hedged items, resulting in 99% effectiveness for 2023. Furthermore, both the credit profile of the Company and the counterparty are adequate and are not expected to change in the medium term, so the credit risk component is not considered to dominate the hedging relationship. In accordance with the reference amounts described and the way in which the flows of the derivatives are exchanged, the average coverage ratio for the EUR/USD and GBP/USD exchange rate for 2023 is 68%. The source of ineffectiveness may be caused by the difference in the settlement date of the derivative and the hedged item, and that the expected amount becomes a lower amount than the hedging instruments, as well as the credit risk. For the years ended December 31, 2023, no ineffectiveness was recognized in profit or loss. (ii) Price risk In carrying out its activities, the Company depends on the supply of raw materials provided by its suppliers, both in México and abroad, among which are intermediate petrochemicals, principally. In recent years, the price of certain inputs has shown volatility, especially those related to oil and natural gas. In order to fix the selling prices of certain of its products, the Company has entered into agreements with certain customers. At the same time, it has entered into transactions involving derivatives on natural gas that seek to reduce price volatility of the prices of this input. Additionally, the Company has entered into derivative financial instruments transactions to hedge purchases of certain raw materials, since these inputs have a direct or indirect relationship with the prices of its products. The derivative financial operations have been privately contracted with various financial institutions, whose financial strength was highly rated at the time by rating agencies. The documentation used to formalize the contract operations is that based generally on the "Master Agreement", generated by the "International Swaps & Derivatives Association" ("ISDA"), which is accompanied by various accessory documents known in generic terms as "Schedule", "Credit Support Appendix" and "Confirmation". 33 Regarding natural gas, Pemex is the only supplier in México. The selling price of natural gas is determined based by the price of that product on the “spot” market in South Texas, USA, which has experienced volatility. For its part, the Mexican Electric Commission is a decentralized public company in charge of producing and distributing electricity in México. Electricity rates have also been influenced by the volatility of natural gas, since most power plants are gas-based. The Company entered into various derivative agreements with various counterparties to protect it against increases in prices of natural gas and other raw materials. In the case of natural gas derivatives, hedging strategies for products were designed to mitigate the impact of potential increases in prices. The purpose is to protect the price from volatility by taking positions that provide stable cash flow expectations, and thus avoid price uncertainty. The reference market price for natural gas is the Henry Hub New York Mercantile Exchange (NYMEX). The average price in US dollars per MMBTU for 2025, 2024 and 2023 was $2.4, $2.2, and $2.5, respectively. As of December 31, 2025, 2024 and 2023, the Company had hedges of natural gas prices for a portion expected of consumption needs in México and the United States. Derivative contracts to hedge adverse changes in commodity prices The Company uses natural gas to operate, as well as some of its main raw materials are paraxylene, ethylene and monoethylene glycol (MEG). Therefore, an increase in the prices of natural gas, paraxylene, ethylene, monoethylene glycol (MEG), or propylene, would have negative effects on the cash flow of the operation. The objective of the Company's designated hedge is to mitigate against exposure to price increases of the aforementioned generic goods for future purchases, by contracting swaps where a variable price is received and a fixed price is paid. In the case of PET, the Company uses these derivatives to hedge sales related to this asset. The Company has implemented strategies called roll-over, through which it analyzes monthly if more derivatives are contracted to expand the time or amount of coverage; currently, coverage contracted until December 2026 is maintained. Commodity derivatives are mirrored to Alpek Polyester USA, Alpek Polyester Mexico, Alpek Polyester Brazil and Alpek Polyester UK, since the risk is in these entities and the derivative instruments are contracted by Alpek Polyester; this process is carried out through the formalization of internal derivatives in order to apply hedge accounting. These derivative financial instruments have been classified as cash flow hedges for accounting purposes. In this sense, management has documented, as a hedged item, a highly probable transaction in relation to the budget for purchases of these commodities. The conditions of the derivative financial instruments and the considerations of their valuation as hedging instruments are mentioned below: As of December 31, 2025 Characteristics Natural Gas Swaps Paraxylene Swaps MEG Swaps Swaps Propylene Total notional 18,904,279 187,380 115,970 76,400,000 Units MMBtu MT MT LB Price received Market Market Market Market Price paid (average) $2.4/MMBtu $875/MT $530/MT $0.26/LB Maturity (monthly) December 2027 January 2027 January 2027 February 2026 Net position of the swap (1) (187) 139 (104) 1 Ineffectiveness recognized in the statement of income - - - - Change in the fair value to measure ineffectiveness (187) 139 (104) 1 Reclassification from OCI to profit or loss - 33 13 - Balance recognized in OCI, net of reclassifications (187) 172 (91) 0 Change in the fair value to measure ineffectiveness of hedge item 187 (139) 104 (1) Effectiveness test results 99.87% 99.81% 99.81% 99.92% 34 As of December 31, 2024 Characteristics Natural Gas Swaps Paraxylene Swaps MEG Swaps Total notional 29,262,179 308,220 63,157 Units MMBtu MT MT Price received Market Market Market Price paid (average) $3.9/MMBtu $1,019/MT $520/MT Maturity (monthly) December 2026 January 2026 January 2026 Net position of the swap (1) (204) (634) 14 Ineffectiveness recognized in the statement of income - - - Change in the fair value to measure ineffectiveness (180) (655) 5 Reclassification from OCI to profit or loss - (78) 6 Balance recognized in OCI, net of reclassifications (204) (556) 8 Change in the fair value to measure ineffectiveness of hedge item 181 656 (6) Effectiveness test results 99.74% 99.79% 99.80% As of December 31, 2023 Characteristics Natural Gas Swaps Paraxylene Swaps MEG Swaps Ethylene swaps Propylene swaps Total notional 24,042,090 277,280 157,474 3,304,623 3,261,920 Units MMBtu MT MT LB LB Price received Market Market Market Market Market Price paid (average) $3.9/MMBtu $1,019/MT $520/MT $.19/LB $.43/LB Maturity (monthly) January 2025 January 2025 January 2025 January 2024 August 2024 Net position of the swap (1) $(200) $28 $8 $1 $2 Ineffectiveness recognized in the statement of income - - - - - Change in the fair value to measure ineffectiveness (189) 36 26 - - Reclassification from OCI to profit or loss - 4 (16) 1 - Balance recognized in OCI, net of reclassifications (200) 24 24 - 2 Change in the fair value to measure ineffectiveness of hedge item 190 (36) (26) - - Effectiveness test results 99.92% 99.89% 99.89% 99.92% 99.93% (1)Due to the high volume of operations, the net position of derivative financial instruments is presented; however, since these instruments do not meet the criteria for the offsetting of financial instruments, they are presented in their gross amounts in the consolidated statement of financial position. The change in the fair value of the derivative financial instruments recognized in OCI for the year ended December 31, 2025, 2024 and 2023 is $646, $(596), and $1,056, respectively. The fair value of the derivate financial instruments according to their classification in the consolidated statement of financial position is as follows: As of December 31, 2025 Asset Liability Total Natural Gas $ - $ (187) $ (187) Paraxylene 151 (12) 139 Propylene 7 (4) 1 MEG/Ethylene - (104) (104) Forward - (1) (1) Total $158 $ (308) $ (150) As of December 31, 2024 Asset Liability Total Natural Gas $ - $ (204) $ (204) Paraxylene - (634) (634) MEG/Ethylene 15 (1) 14 Total $ 15 $ (839) $ (824) 35 As of December 31, 2023 Asset Liability Total Natural Gas $ - $ (200) $ (200) Paraxylene 54 (26) 28 Propylene 2 - 2 MEG/Ethylene 36 (27) 9 Forward 3 (12) (9) Total $ 95 $ (265) $ (170) With the reference amounts of these derivative financial instruments, the Company offsets the fluctuation of the prices of these commodities that are used as raw material in the production processes of the entities. For commodity hedging relationships, management is designating as a hedged item a specific risk, which is defined by the underlying assets that are clearly determined that the risk component is separable, it can be reliably measured and is also highly correlated. On the other hand, in the measurement of the effectiveness of these hedges, the Company determined that they are highly effective because the changes in the fair value and cash flows of each hedged item are compensated within the range of effectiveness established by management. Due to the results shown on the effectiveness tests, it is confirmed that there is an economic relationship between the hedging instruments and the hedged item. The method used by the Company is to offset cash flows using a hypothetical derivative, which consists of comparing the changes in the fair value of the hedging instrument with the changes in the fair value of the hypothetical derivative that would result in a perfect hedge. As of December 31, 2025, according to the reference amounts described and the way in which the flows of the derivatives are exchanged, the average coverage ratio for the natural gas, paraxylene, ethylene and ethane, PTA and PET for 2025, 2024 and 2023 are shown below and, if necessary, a rebalancing will be done to maintain this relationship for the strategy. Average coverage ratio 2025 2024 2023 Natural gas 13% 20% 17% Paraxylene 35% 61% 46% Ethylene/MEG 39% 18% 32% Propylene 30% - 25% The source of ineffectiveness can be caused mainly by the difference in the settlement date of the hedging instruments and the hedged items, and that the budget becomes less than the hedging instruments. For the years ended December 31, 2025, 2024 and 2023, there was no ineffectiveness recognized in profit or loss. (iii) Interest rate risk The Company is exposed to interest rate risk mainly for long-term loans bearing interest at variable rates. Fixed-interest loans expose the Company to interest rate risk at fair value, which reflects that Alpek might be paying interest at rates significantly different from those of an observable market. As of December 31, 2025, 56% of the financing is denominated at a fixed rate, and 44% at a variable rate. As of December 31, 2025, if interest rates on variable rate loans are increased or decreased by 100 basis points in relation to the rate in effect, the income and stockholders’ equity of the Company would change by $278. Credit risk Credit risk represents the potential loss due to non-compliance of counterparts in their payment obligations. Credit risk is generated from cash and cash equivalents, derivative financial instruments and deposits with banks and financial institutions as well as credit exposure to customers, including receivables and committed transactions. The Company determines, from a business standpoint and credit risk profile, the significant customers with whom it maintains an account receivable, distinguishing those that require an individual credit 36 risk assessment. For the rest of the customers, the company carries out its classification according to the type of market in which they operate (domestic or foreign), according with the business and internal risk administration. Each subsidiary is responsible for managing and analyzing credit risk for each of its new customers before setting the terms and conditions of payment. If wholesale customers are rated independent, these are the ratings used. If there is no independent rating, the Company’s risk control group evaluates the creditworthiness of the customer, taking into account their financial position, past experience and other factors. The maximum exposure to credit risk is given by the balances of these items as presented in the consolidated state of financial position. Individual risk limits are determined based on internal and external ratings in accordance with limits set by the Board of Directors. The use of credit risk is monitored regularly. Sales to retail customers are in cash or by credit card. During the years ended December 31, 2025, 2024 and 2023, credit limits were not exceeded. In addition, the Company performs a qualitative evaluation of economic projections, with the purpose of determining the possible impact on probabilities of default and the rate of recovery that it assigns to its clients. During the year ended December 31, 2025, there have been no changes in the techniques of estimation or assumption. Liquidity risk Projected cash flows are determined at each operating entity of the Company and subsequently the finance department consolidates this information. The finance department of the Company continuously monitors the cash flow projections and liquidity requirements of the Company ensuring that sufficient cash and highly liquid investments are maintained to meet operating needs, and it’s that some flexibility is maintained through open and committed credit lines. The Company regularly monitors and makes decisions ensuring that the limits or covenants set forth in debt contracts are not violated. The projections consider the financing plans of the Company, compliance with covenants, compliance with minimum liquidity ratios and internal legal or regulatory requirements. The Company’s treasury department invests those funds in time deposits and marketable securities whose maturities or liquidity allow flexibility to meet the cash needs of the Company. The following table analyzes the derivative and non-derivative financial liabilities of the Company, grouped according to their maturity, from the date of the consolidated statement of financial position to the contractual maturity date. Derivative financial liabilities are included in the analysis if their contractual maturities are required to understand the timing of the Company's cash flows. The amounts disclosed in the table are contractual undiscounted cash flows. Less than a year From 1 to 5 years More than 5 years As of December 31, 2025 Trade and other accounts payable $ 24,242 $ - $ - Current and non-current debt (excluding debt issuance costs and including non-accrued interest payable) 3,364 27,100 13,502 Derivative financial instruments 304 4 - As of December 31, 2024 Trade and other accounts payable $ 29,529 $ - $ - Current and non-current debt (excluding debt issuance costs and including non-accrued interest payable) 3,029 31,417 12,863 Derivative financial instruments 802 37 - As of December 31, 2023 Trade and other accounts payable $ 25,996 $ - $ - Current and non-current debt (excluding debt issuance costs and including non-accrued interest payable) 1,981 18,770 19,837 Derivative financial instruments 253 12 - 37 Supplier finance arrangements In order to ensure easy access to credit for its suppliers and facilitate early settlement, the Company has entered into supplier finance arrangements that permit the suppliers to obtain advance payment from the banks, financing that they can access immediately after the issuance of their invoices. This program generates a transactional discount cost, which is stipulated according to the currency and the term of the invoice to be discounted, which are based on a variable reference rate with a margin. The Company repays the banks the full invoice amount on the scheduled payment date as required by the invoice. As the arrangements do not permit the Company to extend finance from the banks by paying them later than the Company would have paid its suppliers, the Company considers amounts payable to the banks should be presented as part of “Trade and other accounts payable”. As of December 31, 2025, 25% of the “Trade accounts payable” line item, as detailed in Note 15, were amounts owed under these arrangements. Below is a detailed account of supplier financing agreements and their presentation within the consolidated statement of financial position: December 31 2025 2024 Presented as part of Trade and other accounts payable, including: $ 5,619 $ 8,442 Trade accounts payable for which suppliers have already received payment from the financial institution $ 5,619 $ 8,386 Below is a breakdown of the payment date ranges for supplier financing agreements as of December 31, 2025: Days For liabilities presented as part of Trade and other accounts payable: Liabilities that are part of supplier finance arrangements 60-180 Comparable trade accounts payable that are not part of supplier finance arrangements 30-90 The changes in liabilities that are subject to supplier financing agreements are attributable primarily to additions resulting from purchases of goods and services, and subsequent cash settlements. There were no material non-monetary changes in these liabilities. The Company does not face a significant liquidity risk as a result of its supplier financing arrangements given the limited amount of liabilities subject to supplier financing arrangements and the Company´s access to other sources of financing on similar terms. Fair value hierarchy The following is an analysis of financial instruments measured in accordance with the fair value hierarchy. The 3 different levels used are presented below: - Level 1: Quoted prices for identical instruments in active markets. - Level 2: Other valuations including quoted prices for similar instruments in active markets that are directly or indirectly observable. - Level 3: Valuations made through techniques where one or more of their significant data inputs are unobservable. The derivative financial instruments of the Company that are measured at fair value as of December 31, 2025, 2024 and 2023, are located within Level 2 of the fair value hierarchy. There were no transfers between levels of the fair value hierarchy during the period. The specific valuation techniques used to value financial instruments include: - Market quotations or trader quotations for similar instruments. - The fair value of interest rate swaps is calculated as the present value of estimated future cash flows based on observable yield curves. - The fair value of forward exchange agreements is determined using exchange rates at the closing balance date, with the resulting value discounted at present value. - Other techniques such as the analysis of discounted cash flows, which are used to determine fair value of the remaining financial instruments. 38 5. Critical accounting estimates and judgments Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 5.1 Critical accounting estimates and assumptions. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will be, by definition, seldom equal to the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: a) Estimated impairment of goodwill and intangible assets with indefinite useful lives The Company performs annual tests to determine whether goodwill and intangible assets with indefinite useful lives have suffered any impairment (see Note 12). For impairment testing, goodwill and intangible assets with indefinite lives are allocated to those groups of cash-generating units (“CGUs”) from which the Company has considered that economic and operational synergies of business combinations are generated. The recoverable amounts of the CGUs have been determined based on the calculations of their value in use, which require the use of estimates. The most significant of these estimates are as follows: - Estimates of future gross and operating margins, according with the historical performance and industry expectations for each CGU group. - Discount rate based on the weighted average cost of capital (“WACC”) of each CGU or group of CGUs. - Long-term growth rates. b) Recoverability of deferred tax assets Alpek has tax loss carryforwards, which can be used in the following years until maturity expires. Based on the projections of taxable income that Alpek will generate in the subsequent years through a structured and robust business plan, management has determined that current tax losses will be used before they expire and, therefore, it was considered probable that the deferred tax assets for such losses will be recovered. c) Long-lived assets The Company estimates the useful lives of long-lived assets in order to determine the depreciation and amortization expenses to be recorded during the reporting period. The useful life of an asset is calculated when the asset is acquired and is based on past experience with similar assets, considering anticipated technological changes or any other type of changes; or in the case of the right-of-use assets, based on the term of the lease agreement. Were technological changes to occur faster than estimated, or differently than anticipated, the useful lives assigned to these assets could have to be reduced. This would lead to the recognition of a greater depreciation and amortization expense in future periods. Alternatively, these types of technological changes could result in the recognition of a charge for impairment to reflect the reduction in the expected future economic benefits associated with the assets. The Company reviews depreciable and amortizable assets on an annual basis for signs of impairment, or when certain events or circumstances indicate that the book value may not be recovered during the remaining useful life of the assets. For intangible assets with an indefinite useful life, the Company performs impairment tests annually and at any time that there is an indication that the asset may be impaired. To test for impairment, the Company uses projected cash flows, which consider the estimates of future transactions, including estimates of revenues, costs, operating expenses, capital expenses and debt service. In accordance with IFRS, discounted future cash flows associated with an asset or CGU are compared to the book value of the asset or CGU being tested to determine if impairment or a reversal of impairment exist. d) Estimation of default probabilities and recovery rate to apply the model of expected losses in the calculation of impairment of financial assets The Company assigns to customers with whom it maintains an account receivable at each reporting date, either individually or as a group, an estimate of the probability of default on the payment of accounts receivable and the estimated recovery rate, with the purpose of reflecting the cash flows expected to be received from the outstanding balances on such reporting date. 39 e) Business combinations When business combinations are concluded, the acquisition method is required to recognize the identifiable net assets acquired at fair value, at the date of acquisition; any excess of the consideration paid, which may include over the identified net assets, is recognized as goodwill, which is subject to impairment tests at least once a year. On the other hand, any excess of the net assets acquired over the consideration paid is recognized as a gain in profit or loss. To estimate the fair value of the assets acquired and liabilities assumed, the Company uses observable market data to the extent it is available. When the input data of Level 1 is not available, the Company hires an independent qualified appraiser to perform the valuation. Management works closely with the independent qualified appraiser to establish the valuation techniques, the premises, the appropriate input data and the criteria to be used in the valuation models. f) Estimation of the discount rate to calculate the present value of future minimum lease payments The Company estimates the discount rate to be used in determining the lease liability, based on the incremental borrowing rate (“IBR”). The Company uses a three-tier model, with which it determines the three elements that make up the discount rate: (i) reference rate, (ii) credit risk component and (iii) adjustment for characteristics of the underlying asset. In this model, management also considers its policies and practices to obtain financing, distinguishing between that obtained at the corporate level (that is, by the parent), or at the level of each subsidiary. Finally, for real estate leases, or, in which there is significant and observable evidence of the residual value, the Company estimates and evaluates an adjustment for characteristics of the underlying asset, taking into account the possibility that said asset is granted as collateral or guarantee against the risk of default. g) Estimation of the lease term The Company defines the lease term as the period for which there is a contractual payment commitment, considering the non-cancelable period of the contract, as well as the renewal and early termination options that are likely to be exercised. To measure the lease liability, the Company estimates the term of the contracts considering their contractual rights and limitations, their business plan, as well as management’s intentions for the use of the underlying asset. Additionally, the Company considers the early termination clauses of its contracts and the probability of exercising them, as part of its estimate of the lease term. 5.2 Critical judgments in applying the entity's accounting policies a) Determination of exercise of control over certain investments in shares The Company has evaluated critical control factors and has concluded that it should consolidate the financial statements of its subsidiaries Polioles and Indelpro. The analysis performed by the Company included the assessment of the substantive decision making rights of the respective shareholders set forth in their bylaws, resulting in management’s conclusion that it has the power to govern their relevant activities. 6. Cash and cash equivalents and restricted cash The cash and cash equivalents are comprised as follows: As of December 31, 2025 2024 2023 Cash on hand and in banks $6,312 $4,802 $5,898 Short-term bank deposits 1,731 1,414 1,493 Total cash and cash equivalents $8,043 $6,216 $7,391 Restricted cash The restricted cash balance is made up of cash whose restrictions cause the definition of cash and cash equivalents not to be me tis classified as current and non-current assets in the consolidated statement of financial position, based on the expiration date of the restriction. 40 7. Trade and other receivables, net Trade and other accounts receivable, net are comprised as follows: As of December 31, 2025 2024 2023 Trade accounts receivable $12,375 $16,060 $14,594 Trade and other accounts receivable from related parties (Note 28) 141 182 454 Recoverable taxes 3,682 3,950 4,237 Notes receivable 22 32 7 Interest receivable 21 10 4 Sundry debtors 383 502 264 Other investments - 166 - Allowance for impairment of trade and other accounts receivable (2,200) (2,471) (2,087) Total $14,424 $18,431 $17,473 The changes in the impairment allowance for trade and other receivables in 2025, 2024 and 2023, with the expected losses model used by the Company, are as follows: For the year ended December 31, 2025: Customers or customer groups Default probability range Loss given default range Opening balance – Impairment allowance Increases in the allowance Cancellations in the allowance Translation effect Ending balance – Impairment allowance Alpek Polyester (1) 0%-100% 0%-100% $ (2,440) $ (147) $ 160 $ 269 $ (2,158) Grupo Styropek (1) 0% 0%-10% (4) (8) 4 - (8) Polioles 0% 0%-5% (2) (8) - - (10) Indelpro and other (1) 0.87%-2% 2.45%-98% (25) (5) 6 - (24) Total $ (2,471) $ (168) $ 170 $ 269 $ (2,200) (1) The default probability range does not consider customers and groups of customers for which the probability is 100%. For the year ended December 31, 2024: Customers or customer groups Default probability range Loss given default range Opening balance – Impairment allowance Increases in the allowance Cancellations in the allowance Translation effect Ending balance – Impairment allowance Alpek Polyester (1) 0%-100% 0%-100% $ (2,061) $ (101) $ 91 $ (369) $ (2,440) Grupo Styropek (1) 0% 0%-10% (4) (2) 3 (1) (4) Polioles 0% 0%-5% (6) (2) 6 - (2) Indelpro and other (1) 0.61% 4.56% (16) (10) 1 - (25) Total $ (2,087) $ (115) $ 101 $ (370) $ (2,471) (1) The default probability range does not consider customers and groups of customers for which the probability is 100%. For the year ended December 31, 2023: Customers or customer groups Default probability range Loss given default range Opening balance – Impairment allowance Increases in the allowance Cancellations in the allowance Translation effect Ending balance – Impairment allowance Alpek Polyester (1) 0%-100% 0%-100% $ (2,362) $ (165) $ 63 $ 403 $ (2,061) Grupo Styropek (1) 0% 0%-10% (109) (6) 102 9 (4) Polioles 0% 0%-5% (29) (8) 28 3 (6) Indelpro and other (1) 0.65% 3.42% (31) (1) 16 - (16) Total $ (2,531) $ (180) $ 209 $ 415 $ (2,087) (1) The default probability range does not consider customers and groups of customers for which the probability is 100%. 41 As of December 31, 2025, 2024 and 2023, the Company has guaranteed accounts receivable of $1,561, $1,761, and $1,540, respectively. The net change in the allowance for impairment of trade and other receivables of $272 and $384 in the years ended December 31, 2025 and 2024, was primarily due to the increase and decrease, respectively, in the probability of default in certain customers compared to the beginning of the year, as well as the translation effect. The Company has long-term receivables that are guaranteed with the properties of M&G México’s PET production plant in Altamira, México, which have been used by Management to mitigate the exposure to credit risk of such financial assets, and therefore has not recognized an impairment in their carrying amount. 8. Inventories As of December 31, 2025 2024 2023 Finished good $11,129 $13,542 $11,358 Raw material and other consumables 9,356 11,408 9,020 Materials and tools 2,355 2,609 2,383 Production in progress 594 685 561 $23,434 $28,244 $23,322 For the years ended December 31, 2025, 2024 and 2023, a provision amounting to $145, $23, and $125, respectively, related to damaged, slow-moving and obsolete inventory was recognized in the consolidated statement of income. As of December 31, 2025, 2024 and 2023, there were no inventories pledged as collateral. 9. Prepayments The current portion and non-current portion of prepaid expenses is summarized as follows: As of December 31, 2025 2024 2023 Current portion (1) $ 993 $ 885 $ 744 Non-current portion 16 12 6 Total prepayments $1,009 $ 897 $ 750 (1) This item mainly consists of advance payments for raw materials and prepaid insurance. 42 10. Property, plant and equipment, net Land Buildings and constructions Machinery and equipment Vehicles Furniture, lab and information technology equipment Construction in progress Other fixed assets Total For the year ended December 31, 2023 Opening balance $ 3,853 $ 9,356 $ 29,480 $ 131 $ 735 $ 3,258 $ 1,638 $ 48,451 Additions - - 15 1 7 2,881 162 3,066 Disposals (8) (10) (72) - (1) (16) (179) (286) Impairment (1) (56) (93) (831) (3) (26) (404) (35) (1,448) Restatement and translation effect (338) (844) (3,791) (18) (88) (384) (190) (5,653) Depreciation charges recognized in the year - (370) (2,689) (18) (112) - - (3,189) Transfers - (1,261) 3,548 31 101 (2,408) - 11 Ending balance as of December 31, 2023 $ 3,451 $ 6,778 $ 25,660 $ 124 $ 616 $ 2,927 $ 1,396 $ 40,952 As of December 31, 2023 Cost $ 3,451 $ 17,460 $ 76,364 $ 369 $ 2,233 $ 2,927 $ 1,396 $ 104,200 Accumulated depreciation and accumulated impairment - (10,682) (50,704) (245) (1,617) - - (63,248) Net carrying amount as of December 31, 2023 $ 3,451 $ 6,778 $ 25,660 $ 124 $ 616 $ 2,927 $ 1,396 $ 40,952 For the year ended December 31, 2024 Opening balance $ 3,451 $ 6,778 $ 25,660 $ 124 $ 616 $ 2,927 $ 1,396 $ 40,952 Additions - - 855 3 1 1,983 341 3,183 Additions for business acquisitions 90 42 60 1 - 100 - 293 Disposals - (1) (39) (6) (8) 1 (4) (57) Impairment (2) - (29) (1,421) (13) (1) (11) (15) (1,490) Restatement and translation effect 406 952 4,660 23 121 327 181 6,670 Depreciation charges recognized in the year - (392) (2,722) (19) (121) - - (3,254) Transfers 20 118 2,166 29 131 (2,529) 85 20 Ending balance as of December 31, 2024 $ 3,967 $ 7,468 $ 29,219 $ 142 $ 739 $ 2,798 $ 1,984 $ 46,317 As of December 31, 2024 Cost $ 3,967 $ 20,398 $ 92,488 $ 463 $ 2,763 $ 2,798 $ 1,984 $ 124,861 Accumulated depreciation and accumulated impairment - (12,930) (63,269) (321) (2,024) - - (78,544) Net carrying amount as of December 31, 2024 $ 3,967 $ 7,468 $ 29,219 $ 142 $ 739 $ 2,798 $ 1,984 $ 46,317 43 Land Buildings and constructions Machinery and equipment Vehicles Furniture, lab and information technology equipment Construction in progress Other fixed assets Total For the year ended December 31, 2025 Opening balance $ 3,967 $ 7,468 $ 29,219 $ 142 $ 739 $ 2,798 $ 1,984 $ 46,317 Additions - 2 177 5 9 2,462 405 3,060 Additions for business acquisitions 56 68 59 10 19 71 - 283 Disposals - (3) (72) - (1) (26) (112) (214) Impairment (3) (10) 15 (521) (1) (8) (163) - (688) Restatement and translation effect (293) (675) (3,020) (15) (77) (209) (177) (4,466) Depreciation charges recognized in the year - (410) (2,861) (20) (123) - - (3,414) Transfers - 294 2,152 12 118 (2,578) (2) Ending balance as of December 31, 2025 $ 3,720 $ 6,759 $ 25,133 $ 133 $ 676 $ 2,355 $ 2,100 $ 40,876 As of December 31, 2025 Cost $ 3,720 $ 18,717 $ 82,958 $ 455 $ 2,635 $ 2,355 $ 2,100 $112,940 Accumulated depreciation and accumulated impairment - (11,958) (57,825) (322) (1,959) - - (72,064) Net carrying amount as of December 31, 2025 $ 3,720 $ 6,759 $ 25,133 $ 133 $ 676 $ 2,355 $ 2,100 $ 40,876 (1) Mainly corresponds to $950 from the closure of the PET resin production operations at the Cooper River site, $409 from the closure of the filament production plant and the remainder to the Company's normal operations. (2) Mainly corresponds to $1,191 from the suspension of EPS operations in Beaver Valley and the remainder to the Company's normal operation. (3) Mainly corresponds to $362 from the suspension of operations of PET in North Carolina, $138 from the closure of the filament production plant and the remainder to the Company´s normal operations. Depreciation expenses of $3,354, $3,195, and $3,134 were recorded in cost of sales, $27, $11, and $12, in selling expenses and $32, $48, and $43, in administrative expenses in 2025, 2024 and 2023, respectively. 44 11. Right-of-use asset, net Alpek has leases of fixed assets including buildings, machinery and equipment, transportation equipment, and computer equipment. As of December 31, 2025, the average term of the lease contracts is 8 years. The right-of-use recognized in the consolidated statement of financial position as of December 31, 2025, 2024 and 2023, is integrated as follows: Land Buildings Machinery and equipment Rail cars Ships and other leased assets Total Net carrying amount: Balance as of December 31, 2023 $ 294 $ 576 $ 472 $ 1,775 $ 53 $ 3,170 Balance as of December 31, 2024 $ 397 $ 499 $ 875 $ 1,877 $ 89 $ 3,737 Balance as of December 31, 2025 $ 375 $ 430 $ 700 $ 1,433 $ 67 $ 3,005 Depreciation for the year 2023 $ (31) $ (85) $ (294) $ (436) $ (150) $ (996) Depreciation for the year 2024 $ (88) $ (68) $ (267) $ (457) $ (190) $ (1,070) Depreciation for the year 2025 $ (158) $ (74) $ (326) $ (508) $ (211) $ (1,277) During the years ended December 31, 2025, 2024 and 2023, the Company recognized a lease expense of $858, $704, $559, respectively, related to low value and short-term lease agreements. Additions derived from business acquisitions, new contracts and modifications to the lease liability, reflected in the net book value of the right-of- use asset as of December 31, 2025, 2024 and 2023 amounted to $871, $1,327, and $1,409, respectively. As of December 31, 2025, 2024 and 2023, the Company does not have any commitments related to short-term lease agreements. The Company has not signed lease contracts, which at the date of the consolidated financial statements have not started. During the year, the Company did not execute significant extensions to the term of its lease contracts. 45 12. Goodwill and intangible assets, net Cost Definite life Indefinite life Development costs Non- compete agreements Customer relationships Patent Software and licenses Trademarks with definite life Intellectual property, and others Goodwill Other Total As of January 1, 2023 $ 952 $ 74 $ 997 $1,608 $ 277 $ 198 $ 3,668 $ 387 $ 9 $ 8,170 Additions 7 - - - 24 - - - - 31 Disposals - - - - (1) - - - - (1) Transfers 2 - - - 9 - - - - 11 Translation effect (120) (3) (104) (216) (17) (17) (482) (49) (1) (1,009) As of December 31, 2023 841 71 893 1,392 292 181 3,186 338 8 7,202 Additions 7 3 - - 8 - - - - 18 Additions for business acquisitions - - - - 2 - - - - 2 Disposals - - - - (10) - - - - (10) Dispositions - - (1) - - - - - - (1) Transfers 5 - - - - - - - - 5 Translation effect 168 2 107 296 30 10 627 67 2 1,309 As of December 31, 2024 1,021 76 999 1,688 322 191 3,813 405 10 8,525 Additions 8 22 - - 43 - 6 - - 79 Additions for business acquisitions - - - - 3 - - - - 3 Impairment - - - - - - - - - - Disposals - - - (16) - - - - - (16) Transfers - - - 8 (18) 5 (2) - - (7) Translation effect (115) (16) (84) (201) (37) (11) (426) (46) (1) (937) As of December 31, 2025 $ 914 $ 82 $ 915 $1,479 $ 313 $ 185 $ 3,391 $ 359 $ 9 $ 7,647 46 Amortization and Impairment Definite life Indefinite life Development costs Non- compete agreements Customer relationships Patent Software and licenses Trademarks with definite life Intellectual property, and others Goodwill Other Total As of January 1, 2023 $ (619) $ (74) $ (657) $ (93) $ (186) $ (125) $ (1,991) $ - $ - $ (3,745) Amortization (24) - (53) (151) (8) (4) (194) - (434) Disposals - - - - 1 - - - - 1 Translation effect 82 3 80 27 12 8 258 - - 470 As of December 31, 2023 (561) (71) (630) (217) (181) (121) (1,927) - - (3,708) Amortization (22) - (53) (156) (17) (4) (191) - - (443) Additions for business acquisitions - - - - (2) - - - - (2) Impairment - - - - 9 - - - - 9 Disposals - - 1 - - - - - - 1 Translation effect (113) (2) (107) (72) (17) 1 (397) - - (707) As of December 31, 2024 $ (696) $ (73) $ (789) $ (445) $ (208) $ (124) $ (2,515) $ - $ - $ (4,850) Amortization (22) (2) (54) (163) (21) (5) (199) - - (466) Additions for business acquisitions - - - - - - (6) - - (6) Impairment - - - - - - - - - - Transfers - - - (4) (4) (5) 13 - - - Disposals - - - 13 - - - - - 13 Translation effect 82 14 82 68 14 4 292 - - 556 As of December 31, 2025 $ (636) $ (61) $ (761) $ (531) $ (219) $ (130) $ (2,415) $ - $ - $ (4,753) Net carrying amount Cost $ 841 $ 71 $ 893 $ 1,392 $ 292 $ 181 $ 3,186 $ 338 $ 8 $ 7,202 Amortization and impairment (561) (71) (630) (217) (181) (121) (1,927) - - (3,708) As of December 31, 2023 $ 280 $ - $ 263 $ 1,175 $ 111 $ 60 $ 1,259 $ 338 $ 8 $ 3,494 Cost $ 1,021 $ 76 $ 999 $ 1,688 $ 322 $ 191 $ 3,813 $ 405 $ 10 $8,525 Amortization (696) (73) (789) (445) (208) (124) (2,515) - - (4,850) As of December 31, 2024 $ 325 $ 3 $ 210 $ 1,243 $ 114 $ 67 $ 1,298 $ 405 $ 10 $ 3,675 Cost 914 82 915 1,479 313 185 3,391 359 9 7,647 Amortization and impairment (636) (61) (761) (531) (219) (130) (2,415) - - (4,753) As of December 31, 2025 $ 278 $ 21 $ 154 $ 948 $ 94 $ 55 $ 976 $ 359 $ 9 $ 2,894 47 Of the total amortization expense, $464, $438, and $425 have been recorded in cost of sales and $2, $5, and $9 in administrative and selling expenses in 2025, 2024 and 2023, respectively. Incurred research and development expenses that have been recorded in the 2025, 2024 and 2023 consolidated statements of income were $33, $52, and $68, respectively. Impairment testing of goodwill and indefinite lived intangible assets As mentioned in Note 5, goodwill is allocated to operating segments that are expected to benefit from the synergies of the business combination, irrespective of whether other assets or liabilities of the acquirer are assigned to those units or groups of units. As of December 31, 2025, 2024 and 2023, goodwill of $359, $405, and $338, respectively, arises primarily from the Polyester segment. The recoverable amount from each group of CGU has been determined based on calculations of values in use, which are formed by after-tax cash flow projections based on financial budgets approved by Management covering a period of 5 years. The gross and operating margins included in the estimates of value in use have been estimated based on the historical performance and the growth expectations of the market in which each group of CGUs operates. The long-term growth rate used in estimating the value in use is consistent with the projections included in industry reports. The present value of the cash flows was discounted using a specific discount rate after taxes for each group of CGU and reflects the specific risks associated with each of them. The key assumptions used in calculating the value in use in 2025, 2024 and 2023, were as follows: 2025 2024 2023 Estimated gross margin 8.0% 8.5% 8.3% Growth rate 3.0% 2.6% 2% Discount rate 9.0% 9.1% 9.1% 13. Investments accounted for using the equity method and other non-current assets As of December 31, 2025 2024 2023 Notes receivable (1) $1,696 $1,970 $1,693 Due from related parties (Note 28) - 1,178 763 Trade receivables related with business acquisitions 355 615 684 Total other non-current financial assets 2,051 3,763 3,140 Investment in associates and joint ventures 66 63 261 Recoverable taxes 698 753 886 Other 90 80 94 Total investments accounted for using the equity method and other non-current assets $2,905 $4,659 $4,381 (1) As of December 31, 2025, 2024 and 2023, this item mainly consisted of the financing provided to M&G Polímeros México, S.A. de C.V. The Company’s account of investments in associates and joint ventures consists of the following: Shareholding % 2025 2024 2023 Terminal Petroquímica Altamira, S.A. de C.V. 42.04% $ 66 $ 63 $ 61 Clear Path Recycling, LLC (1) 49.90% - - 105 Agua Industrial del Poniente, S.A. de C.V. (2) 47.59% - - 95 Investment in associates and joint ventures as of December 31 $ 66 $ 63 $261 (1) On September 1, 2024, the Company obtained control over this investment in associates, holding 100% of the shareholding as of December 31, 2024. The shareholding as of December 31, 2023 was 49.9%. The acquisition was considered a staged business combination based on IFRS 3 requirements; fair value adjustments to assets acquired and liabilities assumed, as well as required disclosures, were not considered significant. (2) On June 13, 2024, the Company obtained control over this investment in associates, holding 55.6% of the shareholding as of December 31, 2024. The shareholding as of December 31, 2023 was 47.6%. The acquisition was considered a staged business combination based on IFRS 3 requirements; fair value adjustments to assets acquired and liabilities assumed, as well as required disclosures, were not considered significant. 48 Below is summarized the net loss of investments in associates and joint ventures, which are accounted for by the equity method of the Company: 2025 2024 2023 Net comprehensive income (loss) $ 10 $ 1 $ (557) There are neither commitments nor contingent liabilities regarding the Company's investment in associates and joint ventures as of December 31, 2025, 2024 or 2023. 14. Subsidiaries with significant non-controlling interest The significant non-controlling interest is integrated as follows: Non-controlling ownership percentage Non-controlling net interest income (loss) for the period Non-controlling interest as of December 31, 2025 2024 2023 2025 2024 2023 Indelpro, S. A. de C. V. 49% $ 684 $ 371 $ 885 $3,753 $4,205 $3,887 Polioles, S. A. de C. V. 50% 139 65 145 651 624 487 Terza, S. A. de C. V. (1) 50% (5) - - 234 - - Other (260) 117 (149) 95 423 156 $ 558 $ 553 $ 881 $4,733 $5,252 $4,530 (1) On November 1, 2025, the Company acquired a 50% equity interest in Terza, S.A. de C.V. The acquisition was accounted for as a business combination in accordance with the requirements of IFRS 3; the fair value adjustments to the acquired assets and assumed liabilities, as well as the related disclosure requirements, were not considered significant. The summarized financial information as of December 31, 2025, 2024 and 2023, and for the years then ended, corresponding to each subsidiary with a significant non-controlling interest is shown below: Indelpro, S. A. de C. V. Polioles, S. A. de C. V. 2025 2024 2023 2025 2024 2023 Statement of financial position Current assets $ 3,676 $ 4,461 $ 3,972 $ 1,094 $ 1,193 $ 962 Non-current assets 6,658 7,762 6,605 877 965 815 Current liabilities 1,240 1,811 1,211 542 670 508 Non-current liabilities 1,435 1,831 1,433 127 242 295 Stockholders’ equity 7,659 8,581 7,933 1,302 1,246 974 Statements of income Revenues 9,623 11,660 10,442 2,803 3,055 3,023 Consolidated net income 1,396 757 1,807 279 131 289 Total comprehensive income of the year 384 2,321 636 111 328 152 Comprehensive income attributable to non- controlling interest 188 1,137 312 55 164 76 Dividends paid to non-controlling interest 639 749 886 27 27 27 Statements of cash flows Net cash flows generated by operating activities 1,876 1,969 1,838 403 220 206 Net cash flows (used in) generated by investing activities (157) (176) (134) (70) (53) (47) Net cash flows used in financing activities (1,620) (1,819) (2,057) (120) (150) (351) Net increase (decrease) in cash and cash equivalents 20 100 (422) 207 16 (220) 49 15. Trade and other accounts payable As of December 31, 2025 2024 2023 Trade accounts payable $ 22,553 $ 27,618 $ 24,650 Short-term employee benefits 651 1,094 709 Advances from customers 128 36 54 Taxes other than income taxes 395 677 371 Due to related parties (Note 28) 208 168 153 Other accrued accounts and expenses payable 1,481 1,743 1,192 $ 25,416 $ 31,336 $ 27,129 16. Debt As of December 31, 2025 2024 2023 Current: Bank loans (1) $ 1,779 $ 1,263 $ 343 Current portion of non-current debt 62 - - Interest payable 290 373 346 Current debt (2) $ 2,131 $ 1,636 $ 689 As of December 31, 2025 2024 2023 Non-current: Senior Notes $19,885 $22,405 $18,648 Unsecured bank loans 15,875 16,729 14,177 Other loans 137 153 127 Total 35,897 39,287 32,952 Less: Current portion of non-current debt (62) - - Less: Interest generated by non-current debt (286) (353) (304) Non-current debt $35,549 $38,934 $32,648 (1) As of December 31, 2025, 2024 and 2023, short-term bank loans and notes payable incurred interest at an annual average rate of 4.77%, 5.35%, and 9.56%, respectively. (2) The fair value of bank loans and notes payable approximates their current carrying amount because of their short maturity. 50 The carrying amounts, terms and conditions of non-current debt are as follows: Description Currency Outstanding Balance Debt issuance costs Interest payable Balance as of December 31, 2025(1) Balance as of December 31, 2024(1) Balance as of December 31, 2023(1) Maturity date Interest rate Senior Notes 144A/Reg. S / fixed rate USD $ 8,974 $ (29) $ 111 $ 9,056 $ 10,204 $ 8,493 18-sep-29 4.25% Senior Notes 144A/Reg. S / fixed rate USD 10,747 (41) 123 10,829 12,201 10,155 25-feb-31 3.25% Total Senior Notes 19,721 (70) 234 19,885 22,405 18,648 Bank loan, SOFR + 1.00% USD - - - - 2,332 2,112 01-may-26 4.57% Bank loan, SOFR + 1.60% USD 36 - - 36 81 85 29-jun-27 5.30% Bank loan, SOFR + 1.71% USD 62 - - 62 61 98 20-jun-26 5.41% Bank loan, SOFR + 1.03% USD 2,875 - 22 2,897 4,089 3,416 21-jul-28 4.92% Bank loan, SOFR +1.00% USD - - - - 2,032 1,692 6-apr-27 4.51% Bank loan, SOFR +1.05% USD - - - - 4,071 3,391 7-apr-27 4.52% Bank loan, SOFR +1.00% USD - - - - 2,031 1,691 6-may-27 4.51% Bank loan, SOFR +1.00% USD - - - - 2,032 1,692 6-apr-27 4.51% Bancario, SOFR + 1.25% USD 719 3 - 722 - - 30-jun-30 4.94% Bancario, SOFR + 1.25% USD 900 - - 900 - - 30-jun-30 4.92% Bancario, SOFR + 1.25% USD 1,797 (12) 1 1,786 - - 25-jun-30 4.94% Bancario, SOFR + 1.65% USD 2,695 (1) 2 2,696 - - 26-jun-32 5.25% Bancario, SOFR + 1.20% USD 3,593 15 18 3,626 - - 01-aug-30 5.04% Bancario, SOFR + 1.10% USD 1,976 - 3 1,979 - - 28-feb-29 4.93% Bancario, SOFR + 1.35% USD 1,166 - 5 1,171 - - 31-mar-28 5.79% Total unsecured bank loans 15,819 5 51 15,875 16,729 14,177 Other loans USD 136 - 1 137 153 127 Various Various Total 35,676 (65) 286 35,897 39,287 32,952 Less: current portion and interest of non-current debt (62) - (286) (348) (353) (304) Non-current debt $ 35,614 $ (65) $ - $ 35,549 $ 38,934 $ 32,648 (1) As of December 31, 2025, 2024 and 2023, issuance costs of the debt pending amortization were $63, $118, and $125, respectively. As of December 31, 2025, the annual maturities of non-current debt, including current portion and interest payable, and gross from issuance costs are as follows: 2026 2027 2028 2029 and thereafter Total Senior Notes $ 234 $ - $ - $19,721 $19,955 Bank loans 113 126 4,221 11,410 15,870 Other loans 1 - - 136 137 $ 348 $ 126 $4,221 $31,267 $35,962 As of December 31, 2025, 2024 and 2023, the Company has committed unused lines of credit totaling US$529, US$587, and US$584, respectively. Covenants: Loan contracts and debt agreements contain restrictions, primarily relating to compliance with financial ratios, which include the following: a) Interest hedge ratio: it is calculated by dividing the profit before financial result, net, share of result of associates and joint ventures, income taxes, depreciation and amortization (EBITDA) by the net interest charges for the last four quarters of the analyzed period. This ratio cannot be less than 2.25 times. 51 b) Leverage ratio: defined as the result of dividing the consolidated net debt (current and non-current debt, excluding debt issuance costs less restricted and unrestricted cash and cash equivalents) by the EBITDA of the last four quarters of the period analyzed. This ratio cannot be greater than 4.5 times. Additionally, there are other restrictions in regards of incurring additional debt or making loans that require mortgaging assets, dividend payments and submission of financial information, which if not met or remedied within a specified period to the satisfaction of creditors may cause the debt to become payable immediately. During 2025, 2024 and 2023, the financial ratios were calculated according with the formulas set forth in the loan agreements. As of December 31, 2025 and the date of issuance of these consolidated financial statements, the Company and its subsidiaries complied satisfactorily with such covenants and restrictions. 17. Lease liability As of December 31, 2025 2024 2023 Current portion: USD $ 594 $ 623 $ 454 MXN 157 197 128 Other currencies 129 124 119 Current lease liability $ 880 $ 944 $ 701 Non-current portion: USD $ 2,576 $ 3,090 $2,671 MXN 307 410 261 Other currencies 479 604 524 3,362 4,104 3,456 Less: Current portion of lease liability (880) (944) (701) Non-current lease liability $ 2,482 $ 3,160 $2,755 As of December 31, 2025, 2024 and 2023, respectively, changes in the lease lability related to finance activities in accordance with the consolidated statement of cash flow are integrated as follows: 2025 2024 2023 Beginning balance $ 4,104 $ 3,456 $ 3,624 New contracts (1) 871 1,327 1,409 Write-offs (16) (30) (251) Adjustment to liability balance 42 (191) 51 Interest expense from lease liability 262 259 231 Lease payments (1,516) (1,269) (1,170) Exchange loss (gain), net (385) 552 (438) Ending balance $ 3,362 $ 4,104 $ 3,456 (1) Includes lease liabilities assumed in business acquisitions. The maturity of the lease liability is analyzed as follows: As of December 31, 2025 2024 2023 Less than a year $ 880 $ 944 $ 701 Over 1 year and less than 5 years 1,616 2,072 1,579 Over 5 years 866 1,088 1,176 Total $ 3,362 $ 4,104 $ 3,456 52 18. Provisions Dismantling, demolition and environmental remediation Legal contingencies Other (1) Total As of January 1, 2023 $ 56 $ 605 $ 1,193 $ 1,854 Increases 379 138 241 758 Payments (112) - (745) (857) Write-offs (1) (40) (35) (76) Translation effect (28) (29) (134) (191) As of December 31, 2023 294 674 520 1,488 Increases 844 87 196 1,127 Payments (174) - (338) (512) Write-offs (94) (105) (73) (272) Translation effect 32 (37) 24 19 As of December 31, 2024 $ 902 $ 619 $ 329 $ 1,850 Increases 162 108 207 477 Payments (188) (128) (366) (682) Write-offs (31) (224) (16) (271) Translation effect (95) 3 (15) (107) As of December 31, 2025 $ 750 $ 378 $ 139 $ 1,267 (1) As of December 31, 2023, the increases in "others" are mainly made up of the contingent consideration for the acquisition of Octal businesses for $904 (see Note 2), as well as reimbursement for taxes to be recovered from Petrobras $215. 2025 2024 2023 Short-term provisions $ 258 $ 199 $ 749 Long-term provisions 1,009 1,651 739 As of December 31 $1,267 $1,850 $1,488 As of December 31, 2025, 2024 and 2023, the provisions shown in the table above mainly include $42 (US$2), $43 (US$2), and $103 (US$6), respectively, related to the obligation to give back to Petrobras certain tax credits, in case they are recovered by Alpek Polyester Pernambuco and Alpek Polyester Brasil, as well as $378 (US$21). $605, (US$30), and $673 (US$40) for labor, civil and tax contingencies also derived from the acquisition of Alpek Polyester Pernambuco and Alpek Polyester Brasil, for which the Company holds an account receivable, included in other non-current assets, for $355 (US$20), $616, (US$30), and $684 (US$40) as of December 31, 2025, 2024 and 2023, respectively. Additionally, during the years ended December 31, 2025 and 2024, the Company made partial payments related to the contingent consideration for the payment of future benefits (earn-out) related to the acquisition of Octal for $72 (US$3.6) and $201 (US$11.6), respectively. As of December 31, 2025, the contingent consideration had been fully paid. 19. Employee benefits The valuation of retirement plan employee benefits includes formal plans and constructive obligations that covers all employees and is based primarily on their years of service, current age, and estimated salary at retirement date. The subsidiaries of the Company have established irrevocable trust funds for payment of pensions and seniority premiums and health-care expenses. 53 Below is a summary of the main financial data of such employee benefits: As of December 31, 2025 2024 2023 Employee benefit obligations: Pension benefits $ 217 $ 333 $ 439 Post-employment medical benefits 23 58 61 240 391 500 Defined contribution plans 592 463 380 Employee benefits in the consolidated statement of financial position $ 832 $ 854 $ 880 Charge to the consolidated statement of income for: Pension benefits $ 105 $ 6 $ (271) Post-employment medical benefits (2) (2) (4) $ 103 $ 4 $ (275) Remeasurements of employee benefit obligations recognized in other comprehensive income of the year $ 62 $ 129 $ (5) Remeasurements of accrued employee benefit obligations recognized in other comprehensive income $ 476 $ 414 $ 285 Pension and post-employment medical benefits The Company operates defined benefit pension plans based on employees’ pensionable remuneration and length of service. Most plans are externally funded. Plan assets are held in trusts, foundations or similar entities, governed by local regulations and practice in each country, as is the nature of the relationship between the Company and the respective trustees (or equivalent) and their composition. The Company operates post-employment medical benefit schemes mainly in its subsidiary Alpek Polyester USA. The method of accounting, assumptions and the frequency of valuations are similar to those used for defined benefit pension schemes. Most of these plans are not being funded. Amounts recognized in the consolidated statement of financial position are determined as follows: As of December 31, 2025 2024 2023 Present value of defined benefit obligations $ 2,060 $ 2,234 $ 2,535 Fair value of plan assets (1,820) (1,843) (2,035) Liability in the statement of financial position $ 240 $ 391 $ 500 The movements of defined benefit obligations are as follows: 2025 2024 2023 As of January l, $ 2,234 $ 2,535 $ 3,107 Service cost (15) 8 44 Interest cost 115 129 147 Contributions from plan participants 5 36 3 Remeasurements: (Gains) losses from changes in financial assumptions (61) (78) 78 Losses (gains) from changes in demographic assumptions and experience adjustments - - - Liability acquired in business combination 53 - - Translation effect (88) 434 (323) Benefits paid (210) (823) (501) Plan curtailments 27 (7) (20) As of December 31, $ 2,060 $ 2,234 $ 2,535 54 The movement in the fair value of plan assets for the year is as follows: 2025 2024 2023 As of January 1 $ (1,843) $ (2,035) $ (2,431) Interest income (176) (97) (104) Remeasurements – return on plan assets, excluding interest income (1) (51) (83) Translation effect 162 (340) 257 Contributions (53) (22) (6) Asset acquired in business combination (82) Benefits paid 173 702 332 As of December 31 $ (1,820) $ (1,843) $ (2,035) The amounts recorded in the consolidated statement of income for the years ended December 31 are the following: 2025 2024 2023 Service cost $ 15 $ (8) $ (43) Interest cost, net 61 6 (251) Effect of plan curtailments and/or settlements 27 6 19 Total included in personnel cost $ 103 $ 4 $ (275) The principal actuarial assumptions are as follows: As of December 31, 2025 2024 2023 Discount rate Mexico 9.50% 10.50% 9.75% Discount rate United States 5.21% 5.41% 4.83% Inflation rate Mexico 3.75% 3.75% 3.50% Wage increase rate Mexico 9.50% 6.00% 5.50% Medical inflation rate Mexico 7.00% 7.00% 7.00% The sensitivity analysis of the discount rate for defined benefit obligations is as follows: Effect in defined benefit obligations Change in assumption Increase in assumption Decrease in assumption Discount rate MX 1% Decrease by $28 Increase by $32 Sensibility analyses are based on a change in assumptions, while all the other assumptions remain constant. In practice, this is slightly probable, and the changes in some assumptions may be correlated. In calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of calculated defined benefit obligation with the projected unit credit method at reporting period) has been applied as in the calculation of liabilities for pensions recognized within the consolidated statement of financial position. Defined benefit plan assets Plan assets are comprised as follows: As of December 31, 2025 2024 2023 Equity instruments $1,443 $1,488 $1,590 Fixed income 377 355 445 Fair value of plan assets $1,820 $1,843 $2,035 55 20. Income taxes The Company is subject to income tax, whose rate is 30% in México. The statutory income tax rates applicable to the main foreign subsidiaries were as follows: 2025 2024 2023 United States 21% 21% 21% Brazil 34% 34% 34% Argentina 35% 35% 35% Chile 27% 27% 27% Canada 26.5% 26.5% 26.5% Spain 25% 25% 25% United Kingdom 25% 25% 25% Oman(1) 15% 15% 15% (1) Octal's production facility (Octal SAOC FZC) is registered in the Salalah Free Zone; therefore, it is exempt from corporate tax until 2024. Starting in 2025, Oman is amending its lax legislation through Royal Decree No. 70/2024 to align with the Pillar Two model rules published by OECD. In 2023, the Company adopted the amendments to IAS 12, Income Taxes, applicable to income taxes arising from tax laws enacted or substantively enacted to implement the Pillar Two model rules published by the Organization for Economic Co-operation and Development (OECD), including tax laws implementing qualified domestic minimum taxes described in those rules. The Company continues to apply the temporary exception to the deferred tax accounting requirements in IAS 12, and therefore does not recognize or disclose information about deferred tax assets and liabilities related to Pillar Two income taxes. As of December 31, 2025, the Company has significant effects related to income taxes under the Pillar Two model in those jurisdictions in which the holding entities participate with subsidiaries where the legislation is already in force, as the calculations performed in accordance with the OECD-issued Pillar Two model rules resulted in significant tax impacts, which were recognized as a provision during the year. Likewise, in those jurisdictions where the applicable legislation has not yet become effective, no significant effects related to such legislation have been incurred; however, the Company will continue to assess the impact of the Pillar Two income tax model on its future financial performance. a. Income taxes recognized in the consolidated statement of income are as follows: 2025 2024 2023 Current income tax $(1,146) $(1,237) $(2,358) Deferred income taxes (734) 1,819 1,631 Income taxes expenses $(1,880) $ 582 $ (727) b. The reconciliation between the statutory and effective income tax rates is as follows: 2025 2024 2023 Loss before income taxes $ (336) $ (794) $(9,306) Income tax rate 30% 30% 30% Statutory income tax rate expense 101 238 2,792 (Less) add income tax effect on: Annual adjustment for inflation (640) (240) (253) Non-deductible expenses (529) (74) (2,941) Non-taxable income 46 159 164 Effect of different tax rates of other countries other than Mexico (201) (261) (128) True up with respect to prior years’ current income tax 25 71 88 Translation effect from the functional currency (681) 676 (388) Investments in associates and joint ventures (1) 13 (61) Total income taxes $(1,880) $ 582 $ (727) Effective tax rate (560%) (73%) (8%) 56 c. The breakdown of the deferred tax asset and deferred tax liability is as follows: Asset (liability) December 31, 2025 2024 2023 Property, plant and equipment $(1,984) $(1,983) $ (708) Intangible assets (245) (224) (128) Debt issuance costs - (5) (1) Provisions 709 371 237 Derivative financial instruments (29) 237 2 Tax loss carryforwards 2,284 1,906 413 Non-deductible interests 511 1,874 - Tax credits, impairment allowance and other 1,082 2,265 1,604 Effect of tax rates of other countries and changes in tax rates (339) (301) (85) Deferred tax asset $ 1,989 $ 4,140 $ 1,334 Inventories $ (96) $ (94) $ 40 Property, plant and equipment, net (2,635) (3,721) (3,557) Intangible assets (164) (233) (148) Tax loss carryforwards 513 336 693 Non-deductible interest, provision allowance and others 386 557 808 Effect of tax rates of other countries and changes in tax rates 63 80 140 Deferred tax liability $(1,933) $(3,075) $(2,024) Deferred income tax assets are recognized on tax loss carryforwards to the extent the realization of the related tax benefit through future tax income is probable. Tax losses amount to $30,903, $28,886 and $24,034 in 2025, 2024 and 2023, respectively. Tax losses as of December 31, 2025 expire in the following years: Loss for the year incurred Tax-loss carryforwards Expiration year 2016 $ 153 2026 2017 15 2027 2018 14 2028 2019 30 2029 2020 39 2030 2021 106 2031 2022 47 2032 2023 45 2033 2024 999 2034 2025 3,753 2035 2026 4,112 2036 and thereafter Other 21,590 No maturity $ 30,903 As of December 31, 2025, the Company holds tax losses to be amortized in Brazil, through Suape and Citepe, for an amount of $21,581, which have no expiration date. The Company has decided to reserve the total amount of the tax losses, according to management's estimate of future reversals of temporary differences; thus, as of December 31, 2025, they do not generate deferred tax assets. 57 d. Income tax related to other comprehensive income is as follows: 2025 2024 2023 Before taxes Tax charged After taxes Before taxes Tax charged After taxes Before taxes Tax charged After taxes Equity in other comprehensive income of associates and joint ventures recognized through the equity method $ (1) $ - $ (1) $ 1 $ - $ 1 $ (1) $ - $ (1) Foreign currency translation effect (2,328) - (2,328) 4,345 - 4,345 (5,923) - (5,923) Remeasurement of employee benefit obligations 64 (14) 50 129 (31) 98 5 - 5 Effect of derivative financial instruments designated as cash flow hedges 648 (149) 499 (596) 144 (452) 1,056 (291) 765 Other comprehensive income $(1,617) $ (163) $(1,780) $ 3,879 $ 113 $ 3,992 $(4,863) (291) (5,154) e. Income tax payable consists of the following: As of December 31, 2025 2024 2023 Current portion (1) $ 238 $ 433 $ 390 21. Other non-current liabilities As of December 31, 2025 2024 2023 Advances from customers (1) $ - $ - $ 62 Other (2) 123 151 431 Total other non-current liabilities $123 $151 $493 (1) As of December 31, 2023, this item corresponds to revenues charged in advance and relates to the future delivery of goods. (2) As of December 31, 2023, is mainly related to the amount pending of payment for the acquisition of Octal (see Note 2g). 22. Stockholders' equity As of December 31, 2025, capital stock is variable, with a fixed minimum of $5,955,706,376.05 represented by 2,084,502,837 outstanding, ordinary, nominative shares, "Class I" Series "A", with no par value, fully subscribed and paid in. The variable capital entitled to withdrawal will be represented, if issued, by registered "Class II" Series "A" shares without par value. From February to November 2025, the Company purchased 13,927,329 shares in the amount of $152 and sold 7,806,555 shares in the amount of $75 with a repurchase program that was approved by the Company's stockholders and exercised discretionally by Management. At the Extraordinary Shareholders’ Meeting held on November 25, 2025, the Shareholders approved the cancellation of 33,660,798 shares of the Company, consisting of: (i) 17,573,509 treasury shares held by the Company, and (ii) 16,087,289 fractional or residual shares resulting from the application of the exchange ratio. 58 On September 9, 2024, the Company's Board of Director, through powers delegated at the Ordinary General Meeting of stockholders held on March 6, 2024, approved the payment of a cash dividend per share of US$0.0625, equivalent to the aggregate amount of $2,634 (US$132), approximately, which were paid on September 19, 2024. On March 7, 2023, the Company held an Ordinary General Meeting of stockholders, at which the payment of a cash dividend per share of US$0.0755, equivalent to approximately $2,866 (US$159), was approved in a single instalment, which was paid in a single instalment on March 16, 2023. The net income of the year is subject to decisions made by the General Stockholders' Meeting, the Company's by-laws and the General Law of Mercantile Corporations. In accordance with the General Law of Mercantile Corporations, the legal reserve should be increased annually by 5% of the net annual income until it reaches 20% of the fully paid in capital stock. As of December 31, 2025, 2024 and 2023, the legal reserve amounts to $1,210. On October 31, 2022, the Company’s Board of Director, through the powers delegated at the Ordinary General Meeting of stockholders held on March 3, 2022, approved the payment of a cash dividend per share of US$0.093, equivalent to the aggregate amount of $3,887 (US$196), approximately, which were paid on November 9, 2022. The Income Tax Law establishes a tax rate of 10% to the dividends paid to foreign residents and Mexican individuals derived from the profits generated since 2014, also provides that for the years 2001-2013, the net taxable profit will be determined in terms of the Income Tax Law in force in the fiscal year concerned. Dividends paid are not subject to income tax if they derived from the Net Tax Profit Account (“CUFIN”), for its acronym in Spanish). Any dividends paid in excess of this account will cause an income tax charge based on the tax rate valid in the period in which they are paid. This tax is payable by the Company and may be credited against its income tax in the same year or the following two years. Dividends paid from profits which have previously paid income tax are not subject to tax withholding or to any additional tax payment. As of December 31, 2025, the value of the Capital Contribution Account (“CUCA”), for its acronym in Spanish) amounted to $7,494. The tax value of the CUFIN amounted to $16,856. 23. Shared-based payments Alpek has a stock-based compensation scheme referred to at 100% of the value of the shares of Alpek SAB for directors of the Company and its subsidiaries. In accordance with the terms of the plan, the eligible directors will obtain a cash payment contingent upon achieving both quantitative and qualitative metrics derived from the following financial measures: • Improved share price • Permanence of the executives in the Company The program consists in determining a number of shares which the executives will have a right to, that will be paid in cash over the next five years; i.e., 20% every year and will be paid with reference at the average price of the shares during the year. These payments are measured at the fair value of the consideration, therefore, because they are based on the price of Alpek shares, the measurement is considered to be within level 1 of the fair value hierarchy. The average price of the shares in pesos considered for the measurement of the executive incentive is: 2025 2024 2023 Sigma Foods, S. A. B. de C. V. (1) - 16.83 15.68 Alpek, S. A. B. de C. V. 9.41 13.54 12.89 (1) Until March, Sigma Foods, S.A.B. de C.V. served as Controladora Alpek’, and the share‑based compensation was referenced 50% to the value of its shares. However, as of that date, as a result of the spin‑off process (see Note 2 c), Sigma Foods became an affiliate and ceased to be considered in the calculation 59 The short-term and long-term liabilities are comprised as follows: As of December 31, 2025 2024 2023 Short term $ 15 $ 17 $ 9 Long term 34 48 27 Total carrying amount $ 49 $ 65 $ 36 24. Expenses classified by their nature The total cost of sales and selling and administrative expenses, classified by the nature of the expense, for the years ended December 31, are comprised as follows: 2025 2024 2023 Raw material and other $ (91,596) $(100,070) $(101,752) Freight expenses (7,535) (7,519) (8,487) Employee benefit expenses (Note 27) (7,154) (6,996) (6,976) Depreciation and amortization (5,157) (4,767) (4,619) Consumption of energy and fuel (gas, electricity, etc.) (4,660) (3,913) (4,400) Maintenance (2,590) (2,303) (2,514) Technical assistance, professional fees and administrative services (1,962) (1,584) (1,727) Lease expenses (681) (704) (583) Travel expenses (157) (161) (180) Human resources (126) (146) (193) Advertising expenses (7) (5) (12) Other (insurance and bonds, water, containers and packing, etc.) (2,738) (3,562) (2,270) Total $(124,363) $(131,730) $(133,713) 25. Other income (expenses), net Other income (expense) for the years ended December 31, are comprised as follows: 2025 2024 2023 Gain on business combination (2) $ - $ 47 $ - Gain on sale of business 101 - - Other income, net (4) 368 1,235 195 Impairment long-lived assets (1) (3) (5) (924) (1,791) (11,078) Total $ (455) $ (509) $ (10,883) (1) For the year ended December 31, 2023, it primarily includes impairment expense on investment in CCP's joint venture, and long-lived assets from the closure of the filament plant and the closure of the PET resin production operation at the Cooper River site. (2) For the year ended December 31, 2024, primarily corresponds to the gain on the acquisition of Clear Path Recycling, LLC and Agua Industrial del Poniente, S.A. de C.V. (3) For the year ended December 31, 2024, primarily includes impairment expense on the investment in Clear Path Recycling, LLC's joint venture business of $65, based on IFRS 3 requirements for a staged business combination, supplemented by impairment expense related to the suspension of EPS operations in Beaver Valley of $1,191, as well as the impairment expense of the investment in the joint venture of CCP of $251, and an impairment expense related to the fixed assets of Selenis of $283. (4) For the year ended December 31, 2024, it primarily includes collateral-related income of $447, Brazil tax incentives and tax recovery of $412, and insurance recovery of $258. (5) For the year ended December 31, 2025, primarily includes impairment expense on the investment in Clear Path Recycling, LLC's joint venture business of $138, supplemented by impairment expense related to the suspension of EPS operations in North Carolina of $376, as well as the impairment expense of the investment in the joint venture of CCP of $221, 60 26. Finance income and costs Financial result, net for the years ended December 31, are comprised as follows: 2025 2024 2023 Financial income: Interest income on short-term bank deposits $ 148 $ 332 $ 724 Interest income on loans from related parties 122 60 25 Other financial income 408 477 568 Total financial income 678 869 1,317 Financial expenses: Interest expense on bank loans (852) (1,126) (1,009) Non-bank interest expense (1,223) (865) (1,116) Lease interest expense (262) (259) (231) Interest cost on employee benefits, net (70) (79) (46) Other financial expenses (1,376) (2,120) (1,580) Total financial expense (3,783) (4,449) (3,982) Loss in exchange fluctuation, net Foreign exchange gain 12,253 15,682 23,168 Foreign exchange loss (11,510) (18,022) (23,171) Loss in exchange fluctuation, net 743 (2,340) (3) Financial result, net $(2,362) $(5,920) $(2,668) 27. Employee benefit expenses Employee benefits expenses for the years ended December 31, are as follows: 2025 2024 2023 Salaries, wages and benefits $(5,459) $(5,702) $(5,566) Social security fees (528) (554) (604) Employee benefits (102) (43) (73) Other fees (1,065) (697) (733) Total $(7,154) $(6,996) $(6,976) Labor Reform Related to Vacations On December 27, 2022, a decree was published by means of which articles 76 and 78 of the Federal Labor Law (“LFT” for its acronym in Spanish) for México were reformed, which will be effective on January 1, 2023. The main change resulting from this labor reform considers the increase in the minimum annual vacation period for workers with more than one year of service. The Company evaluated the accounting impacts generated by this labor reform and determined that the increases in the vacation and vacation premium provision, as a result of the increase in vacation days, were not significant as of December 31, 2025, 2024 and 2023. 61 28. Related party transactions Transactions with related parties during the years ended December 31, 2025, 2024 and 2023 were as follows: 2025 2024 2023 Income Income from sale of goods: Stockholders with significant influence over subsidiaries $ 1,208 $ 1,534 $ 1,522 Income from services: Affiliates - 1 12 Stockholders with significant influence over subsidiaries 61 197 171 Income from financial interest: Sigma Foods - 28 23 Affiliates - - 3 Associates - 4 - Income from leases: Stockholders with significant influence over subsidiaries 21 40 34 Income from sale of energetic: Affiliates 75 87 95 Stockholders with significant influence over subsidiaries - 18 34 Other income: Affiliates 24 22 1 Stockholders with significant influence over subsidiaries 61 18 2 Costs / expenses Purchase of finished goods and raw materials: Stockholders with significant influence over subsidiaries (474) (518) (647) Expenses from services: Sigma Foods (365) (259) (348) Affiliates (94) (125) (146) Stockholders with significant influence over subsidiaries (11) (12) (13) Other expenses: Affiliates (32) (31) (49) Associates and joint ventures (60) (94) (71) Stockholders with significant influence over subsidiaries (5) (9) 1 Dividends paid to Sigma Foods - (2,094) (2,447) Dividends of subsidiaries to shareholders with significant influence (668) (1,219) (1,474) For the year ended December 31, 2025, 2024 and 2023, the remunerations and benefits received by the top officers of the Company amounted to $473, $351 and $410, respectively, comprising of base salary and social security benefits, and supplemented by a variable consideration program based on the Company’s results and the market value of the shares thereof and of its holding company. 62 As of December 31, balances with related parties are as follows: Nature of the transaction As of December 31, 2025 2024 2023 Short-term accounts receivable: Holding company Sigma Foods, S. A. B. de C. V. (2) Administrative services $ - $ 29 $ 87 Affiliates Innovación y Desarrollo de Energía Alfa Sustentable, S. A. de C. V. Administrative services - - 115 Newpek, LLC Administrative services 2 2 - Terza, S. A. de C. V. Sale of goods - 1 - Sigma Alimentos Lácteos, S.A. de C.V. Energetics 3 3 3 Sigma Alimentos Centro, S.A. de C.V. Energetics - 5 4 Sigma Alimentos Noreste, S.A. de C.V. Energetics 1 - - Alimentos Finos Occidente, S.A. de C.V. Energetics - 1 1 Carnes el Tangamanga S.A. de C.V. Energetics - - 1 Associates Clear Path Recycling, LLC Financing and interest - - 63 Stockholders with significant influence on subsidiaries BASF Sale of goods 118 120 120 Basell Energetics 17 21 60 $ 141 $ 182 $ 454 Long-term accounts receivable: Holding company Sigma Foods, S. A. B. de C. V. (1) (2) Financing and interest $ - $1,178 $ 763 $ - $1,178 $ 763 Short-term accounts payable: Holding Company Sigma Foods, S. A. B. de C. V. (2) Administrative services $ - $ 52 $ 37 Affiliates Alliax, S. A. de C. V. Administrative services 2 4 5 Axtel, S.A.B. de C.V. Administrative services 1 3 4 Newpek, S. A. de C. V. Administrative services - - - Servicios Empresariales del Norte, S. A. de C. V. Administrative services 3 5 2 Sigma Foods, S. A. B. de C. V. (2) Administrative services 120 Associates Tepeal Administrative services $ - 2 6 Stockholders with significant influence over subsidiaries BASF Purchase of raw materials 39 102 87 Basell Energetics 14 - 12 Shaw Industries Purchase of raw materials 29 - - $ 208 $ 168 $ 153 (1) As of December 31, 2024 and 2023, the loans granted bore interest at average fixed interest rate of 12.47%, and 5.34%, respectively. (2) Until March 27, 2025, Sigma Foods, S.A.B. de C.V. was the parent company of Alpek; however, as of that date, as a result of the spin-off process (see Note 2c), it became an affiliate 29. Segment reporting Segment reporting is presented consistently with the financial information provided to the Chief Executive Officer, who is the highest authority in operational decision making, allocation of resources and performance assessment of operating segments. An operating segment is defined as a component of an entity on which separate financial information is regularly evaluated. 63 Management controls and assesses its operations through two business segments: the Polyester business and the Plastics and Chemicals business. These segments are managed separately since its products vary and targeted markets are different. Their activities are performed through various subsidiaries. The operations between operating segments are performed at market value and the accounting policies with which the financial information by segments is prepared, are consistent with those described in Note 3. The Company has defined Adjusted EBITDA as the calculation of adding operating income, depreciation, amortization, and impairment of long-lived assets. The Company evaluates the performance of each of the operating segments based on Adjusted EBITDA, considering that this indicator is a good metric to evaluate operating performance and the ability to meet principal and interest obligations with respect to indebtedness, and the ability to fund capital expenditures and working capital requirements. Nevertheless, Adjusted EBITDA is not a measure of financial performance under IFRS and should not be considered as an alternative to net income as a measure of operating performance or cash flows as a measure of liquidity. Following is the condensed financial information of the Company’s operating segments: For the year ended December 31, 2025: Polyester Plastics and Chemicals Other Total Statement of income: Income by segment $ 90,621 $ 25,379 $10,840 $126,840 Inter-segment income (135) - 135 - Income from external customers $ 90,486 25,379 $10,975 $126,840 Operating income $ (896) $ 2,705 $ 213 $ 2,022 Depreciation and amortization 4,175 952 31 5,158 Impairment of long-lived assets 923 1 - 924 Adjusted EBITDA $ 4,202 $ 3,658 $ 244 $ 8,104 Investments in fixed and intangible assets $ 2,061 $ 323 $ 23 $ 2,407 For the year ended December 31, 2024: Polyester Plastics and Chemicals Other Total Statement of income: Income by segment $100,013 $ 29,501 $ 7,895 $ 137,409 Inter-segment income (76) - 76 - Income from external customers $ 99,937 $ 29,501 $ 7,971 $ 137,409 Operating (loss) income $ 3,312 $ 1,636 $ 222 $ 5,170 Depreciation and amortization 3,796 956 15 4,767 Impairment of long-lived assets 599 1,192 - 1,791 Adjusted EBITDA $ 7,707 $ 3,784 $ 237 $ 11,728 Investments in fixed and intangible assets $ 1,512 $ 447 $ 14 $ 1,973 64 For the year ended December 31, 2023: Polyester Plastics and Chemicals Other Total Statement of income: Income by segment $ 102,230 $ 27,729 $8,200 $ 138,159 Inter-segment income (77) (20) 97 - Income from external customers $ 102,153 $ 27,709 $8,297 $ 138,159 Operating income $ (9,740) $ 3,220 $ 83 $ (6,437) Depreciation and amortization 3,725 886 8 4,619 Impairment of long-lived assets 11,077 1 - 11,078 Adjusted EBITDA $ 5,062 $ 4,107 $ 91 $ 9,260 Investments in fixed and intangible assets $ 2,149 $ 376 $ 3 $ 2,528 The reconciliation between adjusted EBITDA and income before taxes for the years ended December 31, is as follows: 2025 2024 2023 Adjusted EBITDA $ 8,104 $11,728 $ 9,260 Depreciation and amortization (5,158) (4,767) (4,619) Impairment of long-lived assets (924) (1,791) (11,078) Operating income (loss) 2,022 5,170 (6,437) Financial result, net (2,362) (5,920) (2,668) Equity in loss of associates and joint ventures 4 (44) (201) (Loss) income before income taxes $ (336) $ (794) $(9,306) The Company's main customer generated revenues amounting to $10,297, $7,704, and $10,009, for the years ended December 31, 2025, 2024 and 2023. These revenues are resulted from the polyester reporting segment and represent 8.1%, 5.6%, and 7.2% of the consolidated revenues with external costumers for the years ended December 31, 2025, 2024 and 2023. Following is a summary of revenues per country of origin for the years ended December 31: 2025 2024 2023 México $ 51,787 $ 52,948 $ 52,443 United States 37,614 41,361 44,991 Argentina 3,258 5,502 4,894 Brazil 14,036 15,863 13,681 Chile 1,466 886 941 Canada 865 1,781 2,317 United Kingdom 2,827 3,503 3,393 Oman 13,765 15,111 15,098 Saudi Arabia 1,222 454 401 Total revenues $126,840 $137,409 $138,159 The following table shows the intangible assets and property, plant and equipment by country: As of December 31, 2025 2024 2023 México $ 932 $ 1,157 $ 1,083 United States 844 1,093 1,028 Canada 1 2 3 Brazil 154 168 194 Oman 963 1,255 1,186 Total intangible assets $ 2,894 $ 3,675 $ 3,494 65 As of December 31, 2025 2024 2023 México $18,846 $20,752 $17,831 United States 7,371 8,973 7,684 Canada 236 295 497 Argentina 360 674 281 Chile 262 280 237 Brazil 4,328 4,279 4,699 United Kingdom 653 722 624 Oman 8,541 10,030 8,830 Saudi Arabia 279 312 269 Total property, plant and equipment $40,876 $46,317 $40,952 30. Commitments and contingencies As of December 31, 2025, the Company has the following commitments: a. As of December 31, 2025, 2024 and 2023, the Company’s subsidiaries had entered into various agreements with suppliers and customers for purchases of raw materials used for production and the sale of finished goods, respectively. These agreements are effective between one and five years and generally contain price adjustment clauses. b. A subsidiary of the Company entered into agreements to cover the supply of propylene, which establish the obligation to purchase the product at a priced referenced to market values for a specific period. As of December 31, 2025, the Company has the following contingencies: a. During the normal course of the business, the Company is involved in disputes and litigations. While the results of these may not be predicted, the Company does not believe that there are actions pending to apply, claims or legal proceedings against or affecting the Company which, if it were to result in an adverse resolution to the Company, would negatively impact the results of its operations or its financial position. b. Some of the Company’s subsidiaries use hazardous materials to manufacture polyester filaments, polyethylene terephthalate (PET) and terephthalic acid (PTA) resin, polypropylene (PP) resin, expandable polystyrene (EPS), chemical specialties and they generate and dispose of waste, such as catalysts and glycols. These and other activities of the subsidiaries are subject to various federal, state and local laws and regulations governing the generation, handling, storage, treatment and disposal of hazardous substances and wastes. According to such laws, the owner or lessor of real estate property may be liable for, among other things, (i) the costs of removal or remediation of certain hazardous or toxic substances located on, in, or emanating from, such property, as well as the related cost of investigation and property damage and substantial penalties for violations of such law, and (ii) environmental contamination of facilities where its waste is or has been disposed of. Such laws impose such liability without regard to whether the owner or lessee knew of, or was responsible for, the presence of such hazardous or toxic substances. Although the subsidiaries estimate that there are no existing material liabilities relating to noncompliance with environmental laws and regulations, there can be no assurance that there are no undiscovered potential liabilities related to historic or current operations that will require investigation and/or remediation under environmental laws, or that future uses or conditions will not result in the imposition of an environmental liability or expose them to third-party or related parties actions, such as tort suits. Furthermore, there can be no assurance that changes in environmental regulations in the future will not require the subsidiaries to make significant capital expenditures to change methods of disposal of hazardous materials or otherwise alter aspects of their operations. 66 c. As of December 31, 2025, the Company is in a process of fiscal litigation in one of its subsidiaries in Brazil, in relation to the demand for payment of the Tax on the Circulation of Goods and Services ("ICMS") that the Ministry of Finance of the State of Sao Paulo ("SFSP", for its initials in Portuguese) has raised against the Company, due to differences in the criteria for the calculation and crediting of such tax. Considering all the circumstances and precedents of jurisprudence available at that date, management and its advisors have determined that it is probable that the Superior Court of Justice of Brazil will issue a judgment in favor of the Company for the amount related to differences in the calculation, which would exempt it from paying $515 in taxes, fines and interest that the SFSP demands; therefore, as of December 31, 2025, the Company has not recognized any provision related to this concept. On the other hand, for the concept of ICMS crediting, the demanded amount is $103, and management and its advisors consider that it is not probable that the authorities will issue an unfavorable resolution for the Company; thus, it has not recognized any provision related to this concept as of December 31, 2025. d. Anti-Dumping of PET Resin In March 2015, in response to petitions made by PET resin manufacturers in the United States of America (“USA”), the International Trade Commission (“ITC”) and the Department of Commerce of The United States (“USDOC”) initiated an Anti-Dumping investigation on imports of PET resin from China, India, Oman and Canada, resulting in the imposition of an antidumping duty. The duty has been reviewed annually during the month of May at the request of either Octal or the USA manufacturers, the rate has fluctuated based on the annual reviews. Currently, the antidumping duty applied is 0.00% following the Department of Commerce's seventh review and determination. During the first semester of 2026, the final results of the eighth review and determination by the Department of Commerce are expected. Based on those results, the applicable countervailing duty will be adjusted. 31. Subsequent significant events In preparing the consolidated financial statements, the Company evaluated events and transactions for recognition or disclosure subsequent to December 31, 2025 and through January 31, 2026 (the issuance date of the consolidated financial statements), and no significant subsequent events were identified, with the exception of the following: As part of its initiatives to reduce costs and improve competitiveness, the Company plans to suspend operations at its recycling plant in Reading, Pennsylvania, in the second quarter of 2026, shifting part of the capacity to its integrated complex in Richmond, Indiana. 32. Authorization to issue the consolidated financial statements On January 31, 2026, the issuance of the accompanying consolidated financial statements was authorized by Jorge Pedro Young Cerecedo, General Director and José Carlos Pons de la Garza, Administration and Finance Director. These consolidated financial statements are subject to the approval of the Company’s ordinary shareholders’ meeting. contactus ABOUT ALPEK OUR GOVERNANCE NATURAL CAPITAL FINANCIAL REVIEW 68 CONSOLIDATED FINANCIAL STATEMENTS 2025 PERFORMANCE ALPEK’S PEOPLE SOCIAL IMPACT 2025 HIGHLIGHTS MESSAGE FROM OUR MANAGEMENT ALPEK, S.A.B. DE C.V. Av. Gómez Morín 1111 Sur Col. Carrizalejo, San Pedro Garza García Nuevo León, CP. 66254, Mexico WWW.ALPEK.COM INVESTOR RELATIONS Bárbara Amaya Alejandra Bustamante IR@ALPEK.COM

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