REMUNERATION

REMUNERATION POLICY

Remuneration, allowances and other benefits for the members of SABIC Board, board committees – including non-director (outside) members – and the executive management are regulated by SABIC Remuneration Policy approved by the AGM and is subject to regular review.

The Policy sets out the objectives, principles and rules underpinning the remuneration and other benefits for the members of the Board, committees, and Senior Management. It, in all, aims at*:

– Attracting and retaining the best calibers who have the right skills and expertise to achieve SABIC's purpose and objectives;

– Creating an attractive working environment that helps SABIC retain talents and achieve its vision and sustainability;

– Serving as a motivating factor for the members to do their best to achieve SABIC objectives and enhance its growth and sustainability;

– Being suitable to SABIC business size and nature, and its strategic objectives; and

– Not creating any sort of conflicts of interest or harming the interests of SABIC.

The Board determines the remuneration and other benefits for the members of the Board, its committees, and Senior Management, upon the recommendation of the BRNC. The total pay that a Board member may receive in a year is capped at of SR 1,800,000; and to exceed that cap, the AGM approval will be required.

The total remuneration paid by the Company to the members of the Board and committees for the fiscal year ended on 31 December 2022, are set out below:

^{(1) The fixed amount is the annual remuneration specified for membership of the Board of Directors for the year 2022.}

^{(2) Eng. Yousef Al-Zamel and Dr. Mohammed Al-Qahtani joined the Board on 10 Apr 2022}

^{(3) Dr. Khaled Nahas and Eng. Abdullah Al-Issa term expired on 09 Apr 2022}

^{(4) Mr. Yousef Al-Benyan resigned on 28 Sept 2022}

The total remuneration paid by SABIC to the members of the Board committees for the fiscal year ended on 31 December 2022, are set out below:

^{(1) Eng. Khalid Al-Dabbagh, Dr. Khaled Nahas, Eng. Abdullah Alissa, Mr. Abdulaziz Al-Habdan and Dr. Khalid Al-Faddagh left committees on 09 Apr 2022}

^{(2) Dr. Mohammed Al-Qahtani, Eng. Yousef Al-Zamel, Mr. Wilhelmus Jansen and Mr. Stephan Santbrink joined committees start on 10 Apr 2022}

^{(3) Mr. Yousef Al-Benyan resigned on 28 Sept 2022}

The aggregate total remunerations paid by SABIC to five executives who received the highest remuneration, including the CEO and CFO, for the year ended December 31, 2022 are as below:

^{* Remuneration for 2021}

^{** Remuneration for 2021 cycle}