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S-Oil | Q1 2026 Results Presentation | Anwar A. Al-Hejazi | Page 13 of 11 | October 16, 2026

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Shaheen Project Nearing Mechanical Completion The project is progressing as planned, targeting mechanical completion in 1H 2026 Marketing EPC Progress 96.9% Progressing as planned Annual supply contracts of monomer secured, with additional agreements underway to expand customer base Customer pipeline construction on track (for 1H completion) PE quality evaluations underway by pre-marketing, with proactive efforts to secure key domestic customers Long-term PE export contracts completed Engineering* 97.3% Procurement 99.9% Construction 93.6% Major equipment installation for the Steam Cracker completed (Cracking heater, tower, and pipe-rack module) Fired heater installation for TC2C completed Storage tank installation completed Internal finishing works for Polymer Automated Warehouse underway Plant-wide aboveground piping/conduit installation underway Pre-commissioning activities in progress FID Approval Starting EPC Mechanical Completion Start-up and ready for Commercial Operation ‘22. Nov ‘23. Jan ~26. Jun ~26. Dec Current * The remaining 3% of Engineering work consists of as-built drawings, with progress on track across each discipline (As of Apr.-end 2026) Shaheen Project Site