Analyst Meeting

1Q12 Performance

10 May 2012

IRPC Public Company Limited

2

1Q12 Highlights

Operation Performance

Financial Performance

Industry Outlooks

Project Progress & Future

AGENDA

Overview

5.3 3.9 2.06 2.17

-5

0

5

10

15

2010 2011 Q1/12f Q2/12f

% YoY

Real GDP

US Euro Zone Japan

China Thailand World

1Q12 Highlights

Global economy slowly improved after suffering a

sluggish growth worldwide in 2011. Global GDP was

projected to drop below 3% in 2012.

Key challenges are global uncertainty and fragile growth,

oil price volatility caused by geopolitical uncertainty,

policy implications and financial stress in Euro zone.

Crude oil price surged and became volatile mainly due to

the anxiety of disruption in supply caused by the unrest

in oil-producing countries in ME and North Africa.

Average crude price in 1Q12 rose by 10 $/bbl (9%), from

106 $/bbl to 116 $/bbl.

Refining margins were slightly weaker largely due to

decrease in diesel spread after the end of winter and a

higher crude price.

Petrochemical was pressured by cost push whilst the

demand was still sluggish because of concerns on

China’s policy and western economic crisis.

1Q12 average crude run was 184 KBD, increasing by 52% when

compared to that in 4Q11 at 121 KBD as no more planned

shutdown.

Market GIM in 1Q12 was 7.4 $/bbl : refinery 4.5 $/bbl, petrochemical

1.5 $/bbl and utilities 1.4 $/bbl, lower than that in 4Q11 at 9.4 $/bbl as

a result of squeezed margin and lower demand.

1Q12 stock gain was 0.3 $/bbl. (including hedging gain/(loss)&LCM)

Operation

6.0 5.0 4.5

3.0 1.5 1.5 2.9 1.4

9.1 9.4 7.4

0

5

10

15

20

1Q11 4Q11 1Q12

MKT GIM Utilities Petrochem Petroleum

83% 56%

MKT GIM

86%

Real GDP in 2012f Bloomberg World Bank IMF

World 2.28 2.5 3.5

China 8.4 8.2 8.2

Source: IMF , April 12, Yearly data / Bloomberg , 25 Apr 12.

10.3 4.1 4.6

4.6

1.5 1.8 2.9

1.4

14.9

8.5 7.7

0

5

10

15

20

1Q11 4Q11 1Q12

A/C GIM2 Utilities Petrochem Petroleum

A/C GIM

%Utilization

3

Successful PMS implementation for CHP to prevent blackout and enhance

plant reliability on 22 February 2012.

Strategic cooperation with Sumsung Engineering Company by dispatching a

group of expert engineers to start up Sumsung’s refinery plant in UAE on 14

March 2012.

1Q12 Highlights (Con’t)

4

Operation

Finance

IRPC obtained 7,300 M฿ and 175 M$ loan and

committed line from banks in January 2012.

Moodys’ affirmed IRPC’s credit rating at “Baa3” with

stable outlook.

Alternate change of accounting policy in realization of

derivative instrument to reflect relevancy and

compatibility with peers was implemented

Successful GHU Project, starting up on 10 February 2012

which can produce EURO 4 gasoline.

PRP Project: 91.24% progression, 1st MC on 2 May 2012 and

expected commissioning on July 2012.

Lube Group I Project: 89.96% progression

Phoenix Project progression 27% at the average.

Operation

5

Operation Performance

20

40

60

80

100

120

140

160

Dubai ULG Gasoil Fuel Oil

6 Source: Platts, IRPC Analysis Team

Avg. Dubai

Dubai $/BBL

Oil Price Movement, Product Crack & GRM

Average Dubai price in 1Q12 was 116 $/bbl, 10 $/bbl higher than that in previous quarter mainly as a consequence of geopolitical oil sanction on Iran as well as aggregate supply disruption in Sudan, Yemen and Syria.

ULG spread improved as a result of the firm regional demand especially from Indonesia whilst refineries in Asia were under the maintenance .

Diesel spread decreased mainly due to the end of winter and China’s economic growth slow down.

HSFO spread was higher continuously because of Japan’s high demand for power generation. Moreover, the upgraded refinery plant started up.

This brought about less fuel oil.

S’pore GRM 7.4 8.7 7.9 9.1 7.5

Ending Price

▲11 ▼4 ▼1 100 111 107 106 116 ▲9

2Q11 1Q11 3Q11 4Q11 1Q12 Apr 12

117

8.0

116 109 107 101 105 120

1Q11 2Q 3Q 4Q 1Q12 Apr12

18.2 19.6 17.6 17.8 16.4 15.6

$/BBL Gas oil - DB

1Q11 2Q 3Q 4Q 1Q12 Apr12

12.7 14.217.4

9.814.3

17.7

$/BBL ULG 95 - DB

1Q11 2Q 3Q 4Q 1Q12 Apr12

-9.1 -8.6

-3.2 -0.4 -0.5

-2.3

$/BBL HSFO - DB

0

500

1,000

1,500

2,000

FO 180 3.5%S 500SN 150BS Asphalt

2Q11 1Q11 3Q11 4Q11 1Q12 Apr 12

1Q11 2Q 3Q 4Q 1Q12 Apr12

629781 786

632500 550

500SN – FO 180 3.5%S Spread

$/Ton

Lube Base Price Movement

Lube Base

1Q11 2Q 3Q 4Q 1Q12 Apr-12

-97 -84 -95-70 -99 -65

Asphalt – FO 180 3.5%S Spread

$/Ton

$/Ton

1Q11 2Q 3Q 4Q 1Q12 Apr12

3.1 1.7

2.9 2.4 2.1 2.5

3.0 4.2

4.5

2.6 2.4 3.1

6.0 5.9 7.4

5.0 4.5

5.6

Lube Base

Refined

Market GRM $/BBL

Lube and asphalt spread decreased as a consequence of a slowdown in the investment in the infrastructure in China.

FO 180 3.5%S

7

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Naphtha Benzene Toluene Mixed Xylene

1Q11 2Q 3Q 4Q 1Q12 Apr12

226 151 165

102 161 149

1Q11 2Q 3Q 4Q 1Q12 Apr12

160 227

334 324 316 243

1Q11 2Q 3Q 4Q 1Q12 Apr12

81 97

178 192 178 178

$/Ton

MX-Naphtha

BZ-Naphtha Toluene - Naphtha

Aromatics Price Movement

Aromatics

$/Ton $/Ton

$/Ton

2Q11 1Q11 3Q11 4Q11 1Q12 Apr’12

Naphtha

Aromatics spread slightly decreased due to the higher naphtha price whilst the demand was still stable and many refineries went into the maintenance shutdown in March.

Seasonal heavy BZ turnarounds in Asia have commenced and BZ supply was limited.

8

0

500

1,000

1,500

2,000Naphtha Ethylene Propylene HDPE PP

$/Ton

Olefins Price Movement

1Q11 2Q 3Q 4Q 1Q12 Apr12

317 298 204 171 230383

135 99 239 269 145 61

452 397 443 440 375

445

HDPE - Ethylene - Naphtha $/Ton

1Q11 2Q 3Q 4Q 1Q12 Apr12

459 495 438 393 261 390

254 196 212141

14795

713 691 650534

408 485

$/Ton PP - Propylene - Naphtha

Olefins

Naphtha

HDPE - Ethylene Ethylene - NP

PP - Propylene Propylene - NP

9

2Q11 1Q11 3Q11 4Q11 1Q12 Apr’12

Olefins spread decreased due to higher naphtha price and crude oil.

Polyolefins spread was relatively stable. The demand slightly decreased as a result of the anxiety over the US and EURO economic situation.

0

500

1,000

1,500

2,000

2,500 Styrene ABS PS EPS

$/Ton

Styrenics Movement

1Q10 3Q10 2Q10 4Q10 1Q11 2Q11 3Q11

10

1Q11 2Q 3Q 4Q 1Q12 Apr12

512

221 151

337 151 116

$/Ton

1Q11 2Q 3Q 4Q 1Q12 Apr12

498 434 531 448 428 461

138 143 73 111 115 106

636 577 604 559 543 567

$/Ton PS - SM - Naphtha

ABS - Feed

PS – SM SM - NP

Styrene

1Q11 2Q 3Q 4Q 1Q12 Apr12

93 94 111 -22 33

125 83 146166 80

102 91 12337

47 113

$/Ton Market PTF Aromatics

Olefins

MKT PTF

1Q11 2Q 3Q 4Q 1Q12 Apr12

498 434 531 448 428 461

$/TonSM - Naphtha

Styrenics

2Q11 1Q11 3Q11 4Q11 1Q12 Apr’12

Spread squeezed due to the shrinkage of demand caused directly by China’s economic growth slowdown.

5.9 3.8

-4.0 -0.9

0.3 1.3

1Q11 2Q 3Q 4Q 1Q12 2011

10.3 7.7 2.9 4.1 4.7 6.3

4.6 4.5

3.5 1.5 1.8 3.6 0.7 2.9 1.2 0.6

14.9

12.2

7.1 8.5 7.7

10.4

1Q11 2Q 3Q 4Q 1Q12 2011

Power&Utility

Petrochem

Petroleum

6.0 5.7 7.0 5.0 4.5 5.8

3.0 2.8 3.5

1.5 1.5 2.8

0.7

2.9 1.4

0.6

9.1 8.5 11.2

9.4 7.4 9.1

1Q11 2Q 3Q 4Q 1Q12 2011

Power&Utility

Petrochem

Petroleum

GRM & PTF

Market GIM $/BBL

Accounting GIM $/BBL

Stock Gain/(Loss) Net LCM & Oil Hedging

$/BBL

1.8 1.9 2.0

-0.3 0.7 1.5

1.2 0.9 1.4

1.8 0.8

1.2

3.0 2.8 3.5

1.5 1.5

2.8

1Q11 2Q 3Q 4Q 1Q12 2011

Aromatic

Olefins

$/BBL

MKT GRM

MKT PTF

3.1 1.5

2.6 2.4 2.1 2.3

3.0

4.2

4.4

2.7 2.4

3.5

6.0 5.7

7.0

5.0 4.5

5.8

1Q11 2Q 3Q 4Q 1Q12 2011

Lube Base

Refined

$/BBL

11

22% 26% 22% 25%

40% 36% 39% 38%

19% 20% 19% 18%

19% 18% 20% 19%

1Q11 4Q11 1Q12 FY11

95% 96% 94%

55%

101%

81%

74% 84%

43%

83% 71%

86%

98%

59%

98%

0%

20%

40%

60%

80%

100%

1Q11 2Q 3Q 4Q 1Q12

%

Olefins

Aromatic

Styrenic

Optimized Operation

Crude Intake

Petroleum Production Petrochemical Production

Utilization

12

125 89

136 121

45

32

48 39

170

121

184

160

1Q11 4Q11 1Q12 FY11

Sweet Crude

Sour Crude

MBBL 15.32 11.10 16.78 58.25

Unit : KBD

79% 80%

82%

56% 86%

82%

99% 97%

46%

87%

0%

20%

40%

60%

80%

100%

1Q11 2Q 3Q 4Q 1Q12

%

Refinery

Lube

Petroleum Petrochem

6% 4% 5% 5% 5% 5% 5% 5% 13% 14% 15% 14%

41% 43% 41% 43%

9% 8% 8% 8% 14% 14% 16% 14%

13% 12% 10% 10%

1Q11 4Q11 1Q12 FY11

15.3 MBBL

11.1 MBBL

16.8 MBBL

Others**

Naphtha

Gasoline

Diesel

Fuel Oil

Lube Base Oil Asphalt

58.2 MBBL

**Others = Reformate + DCC Product + Intermediate

Aromatic

Olefins

Polystyrenics

309 KTon

196 KTon

321 KTon

1,130 KTon

Polyolefins

13

Revenue Structure

70% 63% 67%

30% 37% 33%

1Q11 4Q11 1Q12

Export

Domestic

Revenue

Distribution Channel

74% 78% 78%

24% 20% 20% 2% 2% 2%

1Q11 4Q11 1Q12

Others

Petrochem

Petroleum

74,183 56,820 50,410 Unit : M฿

Petroleum Sale 1Q11 4Q11 1Q12

1.Gasoline 1.30 0.94 1.21

2.Gas Oil 6.14 5.30 7.85

3.Fuel Oil 1.78 2.13 2.39

4.Lube Base Oil & Asphalt 1.75 1.03 1.68

5.Others 1.10 1.16 1.23

Volume (M.bbl) 12.08 10.56 14.36

Petrochem Sale 1Q11 4Q11 1Q12

1.Aromatics 114 84 132

2.Olefins 193 140 193

Volume (KMT) 306 224 325

Gross Integrated Margin (GIM)

1Q12 market GIM was 7.38 $/BBL, accounting for 3,856 MB, increasing by 608 M฿ when compared to that in 4Q11. The variance came from:

Impact of sales volume 1,662 MB

Impact of price (1,085) MB

CHP project 30 MB

Stock/hedging gain was 0.34 $/BBL, accounting for 175 MB, increasing by 1.3 $/bbl when compared to that in 4Q11. This was because of the increase in crude oil price.

14

Gross Integrated Margin

9.1 9.4 7.4

9.1

5.9

(0.9)

0.3

1.3

14.9

8.5 7.7 10.4

1Q11 4Q11 1Q12 FY11

Stock G/(L) net

LCM + Hedging

Market GIM

Ending Inventory (Million BBL)

31 Dec 11 31 Mar 12

Crude 4.27 5.12

Petroleum 3.78 4.34

Petrochemical 0.88 1.06

Total 8.94 10.53

Cost (USD/BBL) 31 Dec 11 31 Mar 12

Crude 109.5 125.5

Petroleum 114.4 123.0

Petrochemical 220.6 225.3

15

Financial Performance

4.60

8.28

3.93

0.65

1.07

0.82

5.25

9.35

4.76

1Q11 4Q11 1Q12

Interest Exp.

Opex

Financial Performance

Unit : $/bbl 1Q11 4Q11 1Q12

ACC GIM 14.94 8.45 7.72

MKT GIM 9.06 9.39 7.38

ACC GRM 10.29 4.13 4.61

MKT GRM 6.04 5.02 4.54

Stock /Hedging Gain (Loss)

5.88 (0.94) 0.34

Net Profit

1Q11 4Q11 1Q12

Net Sales MB 56,545 50,117 73,915

EBITDA MB 4,877 152 1,973

NP MB 3,773 (1,522) 944

EPS B/share 0.19 (0.07) 0.05

**Turnaround 31 Oct-18 Dec 11

Cash Cost

Unit : M฿ Crude Run Unit : KBD Unit : $/bbl

16

M.BBL 15.32 11.10 16.78

FX 30.70 31.16 31.14

1,009

(1,197)

769

2,764

(325)

175

(1,522)

944

170

121 **

184

1Q11 4Q11 1Q12

Stk G/(L)

+LCM+Oil Hedging

Operation

3,773

17

NP Variance Analysis 1Q12 vs 4Q11

(1,197)

769

1,662

1,085

30

500

(325)

537

175

369

120 286

46

(2,000)

(1,000)

-

1,000

2,000

4Q11 Volume Mkt Price CHP Stk G/(L)

+LCM+ OilHedging

Others

Rev/(Exp)

Asset

Disposal

MTM

securities

FX + Net

InterestExp.

Others 1Q12

-1,522 944 2,466 MB

Crude run 63 KBD

GIM 2.01 $/BBL

Benefit 2.18 MB/day 0.35 M$/day

Operation Stock gain/(loss) + LCM + Oil Hedge

Note : EBITDA after LCM

Avg.Cost of Debt (%)

5.38

18

Net Debt/EBITDA Net Debt/Equity

Financial Ratios

Financial Position

Debt Structure

Debt Profile

Interest Rate (%) Currency (%)

70,077 75,921 70,415 76,873

58,048 27,667

74,356

31,970

3,994

28,531

4,590

40,518 Cash & ST

Investment

PP&E

IBD

Other Liabilities

Equities

2011 1Q12

132,119 149,361

Other Assets

Unit: M฿ ST

Debt

19%

LT

Debt

39%

Bond (USD)

18%

Bond

(BHT) 24% ST Debt 7,555

LT Debt 15,972

Bond (USD) 7,351

Bond (BHT) 9,640

Total 40,518

Loan (M.THB)

Net Debt = 35,928 M฿

1.19

2.39

3.83

1Q11 4Q11 1Q12

Fixed

Float USD

THB

Financial Position

< 2.0x

Float

53%

Fixed

47%

F X.USD/THB = 30.99

THB

75%

USD

25%

0.27 0.32 0.47

1Q11 4Q11 1Q12

< 1.0x

19

Cashflow

Unit : M฿

1Q11 1Q12

Operating 3,644 (8,621)

EBITDA 4,876 1,973

Changes in assets/liabilities (1,232) (10,594)

+

+ =

Financing 431 11,802

Drawdown/(Re/Prepayment) of ST/LT Loan 369 12,255

Interest and Dividend (351) (453)

ESOP 413 -

Free Cash Flow

2,778 (11,451)

1Q11 1Q12

Investing (866) (2,830)

CAPEX (PP&E, Intangible asset) (867) (2,835)

Other investments 1 5

Ending Cash

7,979 3,307

Net Increase in Cash

3,209 351

Beginning Cash

4,770 2,956

+

Change in Accounting Policy

20

(Unit : M฿) (Unit : M฿)

Statement of Income 1Q11 4Q11 2011 Financial Position 31 Dec 2011

Other Income /(Expenses) 324 717 (62) Other Current Asset (58)

Finance Cost (50) (43) (103) Other Current Liabilities (49)

Net Profit 274 674 (165) Retained Earning (9)

Since 1 Jan 2012, IRPC has changed the accounting policies relating to the recognition of

derivatives instruments by unrecognizing unrealized gain/(loss) on derivative financial

instruments. This is to reflect relevancy and compatibility with peers.

The effect of change in accounting policies has been adjusted retrospectively as follows:

21

Outlook Industry

Refining Industry Outlook

Source : PIRA

World Product Demand Growth

Japan continued to consume more low-sulfur crudes and fuel oil due to dwindling nuclear power.

Refinery upgrade keeps fuel oil supply tight.

Consumption of LPG, Naphtha, gasoline and gasoil also continued to expand at a robust rate.

Gas oil demand especially in Europe is anticipated to recover in Q3.

Refinery closure at Atlantic basin supports product price.

22

Refining Industry Outlook (Con’t)

Asia Pacific demand growth in year 2012 is 3.6%.

Nuclear power crisis results in elevated levels of crude oil and fuel oil burning for the next few years.

China economic growth is slow in 2012 due to government efforts to cool the economy.

Asia Pacific Incremental Product Demand

Source : FGE

Demand turns in the slower second half on lower growth from China, even though as Japan continues to consume more low-sulfur crudes and fuel oil due to dwindling nuclear power.

Fuel oil demand led the way on the back of Japan and strong bunker demand, growing by 5.5%.

Consumption of LPG, gasoline and gasoil also continues to rise at a robust rate.

Source : FGE

Asia Pacific Annual Demand Growth

23

PE Outlook

The remaining capacity starts mostly located in Asia, and will support growth within the region.

The new addition capacity in 2016 onwards is expected in North America.

The demand growth exceeding capacity growth during the period thereby driving global operating rates higher.

Global Polyethylene Capacity Additions

24

Integrated Naphtha Cracker with Butadiene and BTX, margins will be supported by the continuing tightness in the Butadiene market.

Source : IHS

PP Outlook

Expected demand remain growth for polypropylene especially in Asia.

Over the next 5 years, South East Asia will shift from a net importer to a significant net exporter of more than 500 million tons.

The slow and steady demand destruction in developed markets like North America and West Europe will be off-set by healthier demand growth rates in developing market like China or South America.

25

World PP Supply & Demand

Demand (4.2/5.2)

ABS/PS Outlook

ABS market continue to grow ahead of global GDP, at the rate of about 5% per year over next 5 years.

China have stimulated appliance demand dramatically although the economic slowdown.

ABS demand dominated by Northeast Asia which accounts for 67% of global demand.

PS-Global Demand

Source : Styrolution comissioned study

PS demand growth is expected to moderate but reach pre-recession levels in the 2012-2013 timeframe.

Demand prospects for PS are better than in recent years, due to the increasing cost profile of some competition resins.

Producers are concerned with profitability than market share, which resulted in better return.

Source : Styrolution commissioned study

ABS-Global Demand

26

EBIT of Global Base Chemical and Plastics

Source : IHS April 2012

By 2013, the Global Base Chemical and Plastic EBIT will begin the next-up cycle returning to very high profits levels and fully emerged by 2014.

27

28

Project Progress

CHP Project Improvement

Power Management System (PMS)

Generation Transmission Customers/Users

Start commissioning on 22 Feb 2012

29

Proven system reliable result VS 2 times blackout caused by the grid in 1Q12

Cost saving from avoiding blackout approximately 200 M฿ each time.

Cost saving from CHP 3-5 M฿/d

Load shading, loop system to secure and balance power for both internal and external sale to the grid

TIME

Pre-Phoenix Projects: PRP Progress

PRP Project : 91.24% Progress

COST

Propylene Booster (PRP) Completion : 2Q12

Timeline for 1. EHIA approval : Sep 11 2. DIW approval : End of May 12 3. MC completion : June 12 4. Commissioning : July 12 5. COD : September 2012

Status Approved • On progress • On progress • On progress • On progress

Achievement

SCOPE

• New Propylene plant with increasing capacity 100 KTA. by Metathesis technology

2,000,000 Man hours without

Loss Time Injury (LTI)

Within Budget

30

# 8 Petroleum quality

improvement to clean fuel and green

growth development

Project Description: Upgrading Gasoline to be EURO IV spec.

Capacity Expansion: None.

CAPEX : 49 M$ / Benefits: 13 M$/yr

GHU Plant construction

Gasoline Euro IV (GHU)

Phoenix Projects: EURO IV Project Progress

Diesel Euro IV: 1Q13 (on schedule) EIA approval since Sept 11

During construction process

Pipe line installation permission

DOH & CHERNGNERN SDAO: APPROVED

MD / RID / IEAT : On Progress

Benefit from swap in 1Q12: 3.37 M$

PTTGC Multi-Product Pipeline

Euro IV Diesel IRPC

Gasoline Euro IV (GHU):

Start Up : 10 Feb 12

Operation with approx 80-90 % Capacity

Benefit in 1Q12 : 1.15 M$ GHU Plant

GHU Project: 100% Completion

Multi-pipeline for upgrading HSD Project: 45.1% Progress

31

Phoenix Projects: Lube Group I Project Progress

25%

50%

75%

100%

0%

•Completion 2Q12

# 7 Lube group 1

specialty product

EBIT 33 M$/yr CAPEX: 31 M$

TDAE

50,000 TPA TDAE

22,000 TPA

150-BS

82,000 TPA

Project Description: High Value Added Lube specialty product, TDAE & Bright Stock

Capacity Expansion: TDAE 28 KTA and 150-BS 38 KTA increasing.

Benefits: 33 M$/yr

150-BS

120,000 TPA

Timeline for

1. MC Completion: Jun 12

2. Commissioning : July 12

3. COD : Aug 12

Status •On Progress

•On Progress

•On Plan

Project Progress : 89.96 %

32

Phoenix Projects: Ethylene Specialty Development Progress

25%

50%

75%

100%

0%

Commodity Product

HDU I : Complete

HDUII & Convert Plant : Completion 4Q12

HDPE 140 KTA

Specialty

Product

# 3 Ethylene

Specialty

Development

EBIT 5 M$/yr

HDPE 140 KTA

CAPEX: 9 M$

Project Description: High Value Added Product of HDPE Specialty & PE Wax

Capacity Expansion: None

Benefits: 5 M$/yr

Timeline for

1.MC Completion: Dec 12

2.Commissioning : Jan 13

3.COD : Jan 13

Status •On Progress

•On Plan

•On Plan

Project Progress : 40.69 %

33

34

This presentation material has been prepared solely for informational purposes only. IRPC is furnishing it solely for use by prospective investors / analysts in

the proposed event. IRPC makes no representations or warranties as to the accuracy or completeness of such information. By accepting this material each

recipient agrees that IRPC shall not have any liability for any representations (express or implied) contained in, or for any omissions from this presentation.

The information contained herein does not purport to be all-inclusive or to contain all of the Information that may be material to the recipient’s decision. Each

recipient of the information and data contained herein should perform its own independent investigation and analysis of the transaction and the creditworthiness of IRPC . Reference in this Disclaimer to this shall include references to the Appendices (if any) hereto.

Investor Relations Contact : ir@irpc.co.th Tel. 02-649-7384-8, Fax. 02-649-7379

presentation is available at

www.irpc.co.th Click “Presentations”

Initiative No. STATUS

#1: Petrochem Operation and

Energy Efficiency

• ETP : Under Back Pressure Turbine modification.

• HDPE : Under package preparation for Butene-1 plant

improvement .

• PP: Under TSA of PP Plant Improvement by Novolen

#2: Upstream Project for Hygiene

and Value Added Products (UHV)

• During EPC bidding process .

• EHIA is in Focus group & Attitude survey (Kor.2) process.

#3: Ethylene Specialty Products • HDU Phase I: Complete construction.

• HDU Phase II: Basic Engineering Design is developing.

#4: EBSM Upgrading for ABS

Specialties

• EBSM upgrading: EHIA approved by ONEP on June 2011.

• Public hearing has been done and expected for DIW approval in

June 2012.

#5: Petroleum Operation and

Energy Efficiency

• Execute Energy Efficiency Improvement program with PTTES

since April 2012 for 21 months.

• During consideration of the Steam Management program.

#6: Supply Chain Optimization

(Griffin and Trading)

• Complete ISC phase 1 : Orion Program for schedule control

implementation.

#7: Lube Group I Specialty

Products Focus

• Under construction which expected to be completed in June

2012 and COD in July 2012.

Execute Study

Phoenix Projects: Progress

E

E

E

E

E

E

E

E

S

35

25%

50%

75%

100%

0%

Initiative No. STATUS

# 8. Petroleum Quality Improvement

to Clean Fuel and Green Growth

Development

• GHU: Construction has completed and started up plant on 10 Feb 2012. GHU is operating now with ~ 80-90%.

• Multi-pipeline: EIA had already been approved. During EPC

award and pipe line installation permission process.

# 9. Maximize Tank Efficiency with

LCT

• In year 2012 : Managing 45 tanks from 48 tanks (26 tanks for

internal customer and 19 tanks for external customer) and

already have 1.56.M$ benefit in the first quarter of 2012.

# 10. Dry Port Commercialization • BCT Port: Budget has been approved for basic infrastructure

& foundation improvement to support further bulk business.

# 11. Build and Sustain Land for

Green Industrial Complex

• IP: During final master plan and EHIA report preparation for

submission to ONEP.

• Bankai: Under EIA approval process by expert committee of

ONEP.

# 12. I'M ACE: IRPC Service

Solutions

• On Going 1. Service Solution Smart Planning, 2. Financial EBIT

tracking, 3. IRPC&TABS 2012 service contract preparation.

# 13. Petrochem Catalyst

Commercialization

• During commercial production and catalyst testing by

customer.

# 14. Performance Chemical

Business Development

Project

• PP-inline: During PMC award and EIA is in PP2 process.

Execute Study

Phoenix Projects: Progress

E

E

E

E

E

E

E S

25%

50%

75%

100%

0%

E

36