ARLANXEO Announces CEO Transition

The Hague, Netherlands 30 June 2023 - ARLANXEO announces that Dr. Ir. Donald D. Chen will retire from his role as Chief Executive Officer of ARLANXEO with effect 1st October 2023. Mr. Chen will remain involved in a senior advisory capacity until 1 February 2024 to ensure a smooth transition of leadership and the continuation of important strategic projects. We look forward to being able to rely on his expertise and guidance.

Olivier Thorel, Chairman of the ARLANXEO Shareholders' Committee and Senior Vice President of Chemicals, Saudi Aramco Oil Company, said: “On behalf of the entire Shareholders' Committee, I would like to thank Donald for his leadership and dedication. As an experienced industry leader, he has led our global group since 2019 with determination and professionalism, fostering a stronger safety culture. Having successfully steered the business through significant market challenges and the Covid crisis, he laid the foundation for the long-term success of our business. We wish him the very best to him and his family for the future.”

ARLANXEO is pleased to announce the appointment of Stephan van Santbrink as our new Chief Executive Officer, effective 1 October 2023.

Stephan has been one of ARLANXEO’s Non-Executive Board members since March 2023. He will be based in The Hague and comes to us from Aramco where he was the Downstream CFO, Head of Strategy & Business Support and brings some 25 years of oil & gas experience from both Aramco and Shell. Next to looking after the overall financial performance of Aramco’s Downstream business he is an active Board/committee member of internationally leading companies like SABIC, Motiva Enterprises, SATORP and Aramco Trading, helping those companies to perform at their best and we are looking forward to him bringing this experience to ARLANXEO.

Stephan is Dutch and holds degrees in Law and Economics from the University of Amsterdam and obtained his MBA from the Rotterdam School of Management.

About ARLANXEO

ARLANXEO is one of the world's largest synthetic rubber producers and a wholly owned subsidiary of Saudi Aramco, a leading energy and chemicals producer. ARLANXEO develops, produces and markets high-performance rubbers with sales of about 3.5 billion Euros, with a presence at more than 12 production sites in 9 countries and 7 innovation centers around the world. Its products are used in a wide range of applications: from the automotive and tire industries to the electrical, construction, and oil and gas industries.

Forward-Looking Statements

This news release may contain forward-looking statements based on current assumptions and forecasts made by ARLANXEO management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.