LyondellBasell Industries (LYB) risk factors: FY2025 10-K

1. The cyclicality and volatility of the industries in which we participate may cause significant fluctuations in our operating results.
2. A sustained decrease in the price of crude oil may adversely impact the results of our operations, primarily in North America.
3. Costs and limitations on supply of raw materials and energy may result in increased operating expenses.
4. Our ability to source raw materials or deliver products may be adversely affected by political instability, civil disturbances or other governmental actions.
5. Our business is capital intensive and we rely on cash generated from operations and external financing to fund our growth, dividends, and ongoing capital needs. Limitations on access to external financing could adversely affect our operating results.reworded

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1. Our operations are subject to risks inherent in the chemical industry, and we could be subject to liabilities for which we are not fully insured or that are not otherwise mitigated.
2. Our business, including our results of operations and reputation, could be adversely affected by safety or product liability issues.
3. Interruptions of operations at our facilities may result in increased liabilities or lower operating results.
4. Large capital projects can take many years to complete, and market conditions could deteriorate significantly between the project approval date and the project startup date, negatively impacting project returns. If we are unable to complete capital projects at their expected costs and in a timely manner, or if the market conditions assumed in our project economics deteriorate, our business, financial condition, results of operations and cash flows could be materially and adversely affected.
5. Shared control or lack of control of joint ventures or equity investments may delay decisions or actions regarding our joint ventures, or adversely affect our financial results.
6. We may be required to record material charges against our earnings due to any number of events including impairments of our assets.
7. Acquisitions or dispositions of assets or businesses could disrupt our business and harm our financial condition and stock price.

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1. Economic disruptions and downturns in general, and particularly continued global economic uncertainty or economic turmoil in emerging markets, could have a material adverse effect on our business, prospects, operating results, financial condition and cash flows.
2. We sell products in highly competitive global markets and face significant price pressures.
3. We operate internationally and are subject to exchange rate fluctuations, exchange controls, tariffs, political risks and other risks relating to international operations.rewordedTariffs
4. Changes in tax laws and regulations could affect our tax rate, financial condition and results of operations.

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1. We cannot predict with certainty the extent of future costs under environmental, health and safety and other laws and regulations, and cannot guarantee they will not be material.
2. We may incur substantial costs to comply with climate change legislation and related regulatory initiatives.
3. Legislation and regulatory initiatives could lead to a decrease in demand for our products or reputational harm.
4. The physical impacts of climate change can negatively impact our facilities and operations.
5. Increased regulation or deselection of plastic could lead to a decrease in demand growth for some of our products.
6. Failure to effectively and timely achieve our GHG emissions reduction goals could damage our reputation and have an adverse effect on the demand for our products.
7. Failure to achieve our circularity goals could have an adverse effect on the demand for our products and damage our reputation.

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1. Increased IT and cybersecurity threats and more sophisticated and targeted computer crime could pose a risk to our systems, networks, data, products, facilities and services, and the expansion of related regulatory requirements could increase our costs and disrupt our operations.Cybersecurity
2. Many of our businesses depend on our intellectual property. Our future success will depend in part on our ability to develop new technologies and protect our intellectual property rights, and our inability to do so could reduce our ability to maintain our competitiveness and margins.
3. Adverse results of legal proceedings could materially adversely affect us.
4. If we lose key employees or are unable to attract and retain the employees we need, our business and operating results could be adversely affected.
5. Significant changes in pension fund investment performance or assumptions relating to pension costs may adversely affect the valuation of pension obligations, the funded status of pension plans, and our pension cost.

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