Celanese Q1 Report 2023

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported
first quarter 2023 GAAP diluted earnings per share of $0.86 and adjusted earnings per share of $2.01. The Company generated
net sales of $2.9 billion in the quarter, an increase of 22 percent over the prior quarter. Net sales reflected a sequential volume
increase of 19 percent over the prior quarter that was partially offset by a pricing decrease of 4 percent. Volume increased due
to an additional month of sales from the Mobility & Materials (M&M) acquisition as well as demand recovery in Europe and
Asia as the quarter progressed. The Company exercised its commercial flexibility and global supply chain to capture improved
demand and to offset the impact of sequentially lower variable margin across many products, due to moderation in input costs
that was more than offset by pricing declines. As a result of sequentially higher contributions from Engineered Materials and
the Acetyl Chain, the Company reported first quarter consolidated operating profit of $251 million, adjusted EBIT of
$424 million, and operating EBITDA of $596 million. In the first full quarter under its ownership, Celanese delivered a
significant sequential increase in the M&M earnings contribution due primarily to higher sequential volume and approximately
$10 million in savings in the quarter from cost synergies.