Exhibit



	PAGE
Independent Auditor's Report	2
Statements of Operations for the years ended December 31, 2015, 2014 and 2013	3
Statements of Comprehensive Income (Loss) for the years ended December 31, 2015, 2014 and 2013	4
Balance Sheets as of December 31, 2015 and 2014	5
Statements of Partners' Capital for the years ended December 31, 2015, 2014 and 2013	6
Statements of Cash Flows for the years ended December 31, 2015, 2014 and 2013	7
Notes to Financial Statements	8

We have audited the accompanying financial statements of CTE Petrochemicals Company, which comprise the balance sheets as of December 31, 2015 and 2014, and the related statements of operations, comprehensive income (loss), partners' capital, and cash flows for each of the three years in the period ended December 31, 2015, and the related notes to the financial statements.

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of CTE Petrochemicals Company as of December 31, 2015 and 2014, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2015 in accordance with accounting principles generally accepted in the United States of America.



	Year Ended December 31,
	2015			2014			2013
	(In $ thousands)
Equity in net earnings of Ibn Sina	$	143,140		$	234,842		$	214,704
Administrative expenses	(53		)	(47		)	(45		)
Withholding tax expense	(8,847		)	(12,130		)	(10,320		)
Net earnings	$	134,240		$	222,665		$	204,339



	Year Ended December 31,
	2015		2014			2013
	(In $ thousands)
Net earnings	$	134,240	$	222,665		$	204,339
Other comprehensive income (loss), net of tax
Pension and postretirement benefits	1,171		(561		)	(300		)
Total other comprehensive income (loss), net of tax	1,171		(561		)	(300		)
Total comprehensive income, net of tax	$	135,411	$	222,104		$	204,039



	As of December 31,
	2015		2014
	(In $ thousands)
Assets
Current assets
Cash	$	64	$	23,083
Total current assets	64		23,083

Investment in Ibn Sina	123,451		156,079

Total assets	$	123,515	$	179,162

Liabilities and Partners' Capital
Current liabilities
Accrued liabilities	$	48	$	45
Total current liabilities	48		45

Partners' capital	123,467		179,117

Total liabilities and partners' capital	$	123,515	$	179,162



	2015									2014									2013
	Texas Eastern Arabian Ltd.			Elwood Insurance Ltd.			Total			Texas Eastern Arabian Ltd.			Elwood Insurance Ltd.			Total			Texas Eastern Arabian Ltd.			Elwood Insurance Ltd.			Total
	(In $ thousands)
Partners' Capital
Balance as of the beginning of the year	$	62,289		$	125,781		$	188,070		$	77,713		$	95,125		$	172,838		$	78,703		$	85,448		$	164,151
Net earnings	67,120			67,120			134,240			111,332			111,333			222,665			102,170			102,169			204,339
Net dividends	(98,987		)	(92,074		)	(191,061		)	(126,756		)	(80,677		)	(207,433		)	(103,160		)	(92,492		)	(195,652		)
Balance as of the end of the year	30,422			100,827			131,249			62,289			125,781			188,070			77,713			95,125			172,838

Accumulated Other Comprehensive Income (Loss), Net
Balance as of the beginning of the year	(4,476		)	(4,477		)	(8,953		)	(4,196		)	(4,196		)	(8,392		)	(4,046		)	(4,046		)	(8,092		)
Pension and postretirement benefits	585			586			1,171			(280		)	(281		)	(561		)	(150		)	(150		)	(300		)
Balance as of the end of the year	(3,891		)	(3,891		)	(7,782		)	(4,476		)	(4,477		)	(8,953		)	(4,196		)	(4,196		)	(8,392		)
Total Partners' Capital	$	26,531		$	96,936		$	123,467		$	57,813		$	121,304		$	179,117		$	73,517		$	90,929		$	164,446



	Year Ended December 31,
	2015			2014			2013
	(In $ thousands)
Operating activities
Net earnings	$	134,240		$	222,665		$	204,339
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in net earnings of Ibn Sina	(143,140		)	(234,842		)	(214,704		)
Dividends received	176,939			242,395			206,259
Accrued liabilities	3			—			(15		)
Net cash provided by operating activities	168,042			230,218			195,879
Financing activities
Dividends paid	(191,061		)	(207,433		)	(195,652		)
Net cash used in financing activities	(191,061		)	(207,433		)	(195,652		)
Net change in cash	(23,019		)	22,785			227
Cash at beginning of year	23,083			298			71
Cash at end of year	$	64		$	23,083		$	298

CTE Petrochemicals Company ("CTE" or the "Company") is a common general partnership (the "Partnership") which was formed on January 27, 1981 pursuant to the laws of the Cayman Islands, British West Indies. The original partners, Celanese Arabian Inc. ("Celanese Arabian") and Texas Eastern Arabian Ltd. ("Texas Eastern"), a wholly owned subsidiary of Duke Energy Corporation ("Duke"), each acquired an equal ownership interest in CTE. Through a series of transactions, Elwood Insurance Limited ("Elwood"), a wholly owned subsidiary of Celanese Corporation ("Celanese"), acquired Celanese Arabian's original interest in CTE, and Celanese and Duke continue to have an equal ownership interest, including profit and loss distribution, through their respective subsidiaries, Elwood and Texas Eastern.

CTE's primary asset is its 50% investment in National Methanol Company ("Ibn Sina"). Ibn Sina, a Saudi limited liability company registered under the laws of Saudi Arabia, is owned equally by CTE and Saudi Basic Industries Corporation ("SABIC"), a privately-held Saudi Arabian joint stock company. Ibn Sina was formed in 1981 and is in the business of operating a petrochemical complex which produces methanol and methyl tertiary butyl ether.

On April 1, 2010, Elwood, Texas Eastern and SABIC expanded the scope of Ibn Sina to include the creation of a polyacetal ("POM") production facility and extended the term of the joint venture to 2032. The capital required to build the POM plant is funded equally by SABIC and CTE. Elwood and Texas Eastern provide 65% and 35%, respectively, of the POM funding requirements of CTE. Once the POM plant becomes commercially operational, CTE's respective earnings will be split 65% and 35% to Elwood and Texas Eastern, respectively. However, the partners' equal ownership percentage in CTE will remain unchanged. Elwood and Texas Eastern will continue to share the power to direct the activities that most significantly impact the Company's economic performance. SABIC will continue to have 50% ownership in Ibn Sina, including its respective share of profits and losses.

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses. These estimates, based on best available information at the time, could differ from actual results.

The Company accounts for its investment in Ibn Sina using the equity method of accounting as it has the ability to exercise significant influence over operating and financial policies of Ibn Sina, but does not exercise control. Under the equity method, the investment, originally recorded at cost, is adjusted to recognize the Company's share in net earnings or losses of Ibn Sina and reduced by dividends received.

The Company assesses the recoverability of the carrying value of its investment whenever events or changes in circumstances indicate a loss in value that is other than a temporary decline. A loss in value of an equity-method investment which is other than a temporary decline will be recognized as the difference between the carrying amount of the investment and its fair value, and such loss, if any, would be charged to earnings. No such losses have been recognized.

The Company records dividends when received as reduction of its investment. Historically, Ibn Sina has distributed a substantial portion of the after tax earnings to its partners. Typically, CTE remits the dividends to its partners, Elwood and Texas Eastern, simultaneously when received from Ibn Sina.

In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying value of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03. The amendments in ASU 2015-03 require retrospective application and represent a change in accounting principle. The Company elected to early adopt ASU 2015-03 for the year ended December 31, 2015, and applied its provisions retrospectively. The adoption of ASU 2015-03 did not impact the Company. However, it did impact the presentation of the summarized US GAAP financial statement results of Ibn Sina in Note 4 - Investment in Ibn Sina. The result was a reclassification of $3.3 million of unamortized debt issuance costs from Total Assets to a reduction of Debt and Total Liabilities as of December 31, 2014.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). ASU 2014-09 supersedes the revenue recognition requirements of FASB Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition and most industry-specific guidance throughout the Accounting Standards Codification, resulting in the creation of FASB ASC Topic 606, Revenue from Contracts with Customers. ASU 2014-09 requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. This ASU provides alternative methods of adoption. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, Deferral of the Effective Date ("ASU 2015-14"). ASU 2015-14 defers the effective date of ASU 2014-09 by one year to December 15, 2017 for fiscal years, and interim periods within those years, beginning after that date and permits early adoption of the standards, but not before the original effective date for fiscal years beginning after December 15, 2016. The Company is currently assessing the potential impact of adopting ASU 2014-09 on its financial statements and related disclosures.



	Year Ended December 31,
	2015		2014		2013
	(In $ thousands)
Total Assets	$	738,011	$	609,302	$	551,865
Debt	269,495		41,656		—
Total Liabilities	504,046		297,242		231,849
Net Sales	763,110		1,267,285		1,179,823
Operating Income	356,802		581,707		541,741
Net Income	318,087		518,575		479,945

The laws of Saudi Arabia require different allocations of income taxes to capital balances based upon the respective partner's country of domicile. Accordingly, CTE's percentage of Ibn Sina's net income in equity is not proportioned to its ownership percentages.

The financial statements reflect no provision or liability for income taxes because the Company's financial results are included in the income tax returns of the Partners for the years ended December 31, 2015, 2014 and 2013. The Company incurs withholding tax from the Saudi Arabian government at a rate of 5% on dividends received from its investment in Ibn Sina. Withholding taxes are reported as withholding tax expense on the Company's statements of operations when dividends are received. Amounts shown as withholding tax expense were paid to the Saudi Arabian government in the respective periods presented. For the years ended December 31, 2015, 2014 and 2013 taxes paid were $8.8 million, $12.1 million and $10.3 million, respectively.