Annual report design

Annual Report

2023

Eng. Khalid Abdullah Al-Zamil

Chairman of the Board

Message from our Chairman

Dear, Shareholders of Sahara International Petrochemical Company “Sipchem”, May the Peace, Mercy and Blessings of Allah be bestowed upon you. On behalf of myself and my colleagues in the Board of Directors of Sahara International Petrochemical Company “Sipchem”, we are pleased to present Sipchem annual report to provide an insight into Sipchem’s notable achievements over the past year, as well as the challenges encountered by the Company. The report encompasses an overview of the Company’s performance and endeavours exerted throughout the past year, which witnessed numerous successes achieved by Sipchem. This success After God’s grace first, and foremost, is attributed to the full support from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, the Crown Prince His Royal Highness Prince Mohammed bin Salman, may Allah protect them, as well as the wise government and dedication and commitment of the Company’s employees and their strong determination. Sipchem has provided a conducive environment that fosters production and excellence to accomplish the Company’s objectives and steadily strive towards achieving its ambitious strategic objectives. “Sipchem” has successfully achieved its set objectives by enhancing its operational efficiency, in addition to implementing numerous initiatives that, with the help of Allah, contributed to mitigating the impact of global geopolitical and economic fluctuations, aspiring to support the promising and ambitious development goals of our beloved country in line with Saudi Vision 2030.

Message from our CEO

Our remarkable results from 2022 gave us the confidence and resources to further implement our innovative and successful initiatives across all aspects of our organisation. In short, Innovation 360°. Our innovation is not a random act, but a result of meticulous planning and foresight. It is built on our strategic pillars of growth, profitability, sustainability, innovation, digital transformation, and human resources, all empowered by our core values of Courage, Passion, Agility, and Collaboration. With this solid foundation, we are like a coiled spring, ready to confidently leap forward in 2024. We had the Courage to break new ground by entering the Blue Ammonia market, a sector that’s growing phenomenally, propelled by the global necessity to reduce greenhouse gas emissions. Consequently, Blue Ammonia fits in perfectly with our sustainability strategy. In 2023, we made huge strides in reducing our carbon emissions and launched further environmental initiatives. We demonstrated our Flexibility by launching numerous digital transformation projects. Thereby swiftly adapting to changes in the petrochemical industry and achieving optimal sustainable results. We progressed in Collaborating with government sectors via partner projects and developed long- term sustainable business relationships. We owe our success to the collective Passion of our staff and the unwavering support and engagement of the local community. This partnership is not just a one-way street. Together, we have made significant contributions to local educational, charitable, social, and health causes, fostering a sense of pride and belonging in our shared achievements. Innovation 360° isn’t about 2023 or even 2024. It’s a strategy for the future. We are paving our pathway to success, and I’d like to thank everyone sharing this journey with us.

Abdullah S. Al-Saadoon

Chief Executive Officer

Progress is not linear. It’s circular. Due to constantly changing circumstances, sustaining success requires constant work. New competitors are entering our market, customers needs are changing, new technologies enables new solutions, and so on. Therefore, building our path to prosperity requires constant planning and iteration. Not in parts but as a whole – a 360° vision. Firstly, we need to be certain we are working towards the right goals, which is why we need to identify what matters most in our future. Consequently, in 2023, we appointed a strategy team to define fresh ideas, processes and products. In short, 360° Innovations that when implemented will lead to positive effective progress.

Our 360 Vision

Board of Directors

Eng. Khalid A. Al-Zamil Chairman of the Board

Mr. Fahad S. Al-Rajhi Vice Chairman

Dr. Abdulrahman A. Al-Zamil

Board Member

Eng. Reyadh S. Ahmed Board Member

Eng. Saeed O. Al-Esayi Board Member

Eng. Abdullah Khalifa Board Member

Mr. Saeed A. Basamah Board Member

Mr. Mosaed Al-Ohali Board Member

Mr. Ziad A. Al-Turki Board Member

Mr. Firas M. Al-Abed Board Member

Mr. Ahmed Al-Dakheel Board Member

Mr. Fahad Alohal

General Secretary of the Board of Directors

Making Our Mark

in The World at Large

During 2023 we have enhanced our global profile by exhibiting at worldwide events as well as making our presence felt at international conferences. Initiatives that are part of our Innovation 360° strategy to become recognized as an industry leader in our field.