1

Media Meeting 3Q2015

17 November 2015

Agenda

สรปผลประกอบการ 3Q2015

ความกาวหนาโครงการลงทนหลก

VISTEC Collaboration

ผลการด าเนนงานกลมธรกจและเงนลงทน

Q&A

2

Management Re-shuffle

SVP – Polymers Business

Unit

EVP – EO Based

Performance Business

Unit

SVP – Marketing, Commercial and Supply

EVP – Finance and Accounting

EVP – Corporate Strategy

EVP – Organizational Effectiveness

EVP – External Affairs

SVP – Corporate

Affairs

SVP – Science and Innovation

EVP – Project

Executive Director

EVP – GPC Olefins

SVP – GPC Refinery

and Shared Facilities

SVP – GPC Aromatics

SVP – CAPEX

Excellence

SVP – Quality, Safety,

Occupational Health and

Environment

Mr. Supattanapong Punmeechaow

Mr. Prasert Bunsumpun Chairman

Miss Duangkamol Settanung

SVP – Green

Chemicals Business

Unit

SVP - Phenol

Business Unit

EVP – International

Business Operations

Board of Directors

President and CEO

COU – Upstream Petrochemical Business

COD – Downstream Petrochemical Business

VP – Internal Audit

Audit Committee

Risk Management Committee

Nomination and Remuneration Committee

CG Committee

Mr. Patiparn Sukorndhaman

Mr.Saroj Putthammawong

Mr.Athavudhi Hirunburana

Effective Jan 1, 2016

SVP – Technical

and Operations

SVP - High Volume Specialties

Business Unit

3

4

สรปผลประกอบการ 3Q2015

(หนวย: ลานบาท) Q3/2557 Q2/2558 Q3/2558 YoY

%+/ (-)

QoQ

%+/ (-)

รายไดจากการขาย

EBITDA

EBITDA Margin (%)

141,081

12,728

9%

111,169

16,056

14%

93,620

7,824

8%

-34%

-39%

-1%

-16%

-51%

-6%

ก าไรสทธ 7,658 8,974 1,207 -84% -87%

ก าไรสทธ บาท/หน 1.70 1.99 0.27 -84% -87%

Adjusted EBITDA* 15,582 13,785 10,511 -33% -24%

Adjusted EBITDA Margin (%) 11% 12% 11% 0% -1%

• PX spread plunged

• Vencorex restructuring

• S/D of GSP5 • S/D of I-1 and

I-4/1

Adjusted EBITDA Margin remain strong เขมแขงทามกลางความผนผวนทางเศรษฐกจและราคาน ามนลดต า

11,498 11,340 15,582 13,954 11,606 13,785

10,511

8% 8%

11% 12% 12% 12% 11%

0%

5%

10%

15%

-

5,000

10,000

15,000

20,000

1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15

Adj. EBITDA Adj. EBIDTA Margin

-

20.00

40.00

60.00

80.00

100.00

120.00

Unit: USD/BBL Dubai price

Crimea Crisis

Unit: MB

Uprising of IS troops in Iraq

Cold weather hit historical high record

Highest US oil production in the past 30 years

US QE Tapering

Continually strong USD

OPEC&IEA cut global oil demand growth

OPEC remain production capacity

Saudi Arabia reduce oil price to maintain market share

Major OPEC members continue to decrease selling price

• Improved chemical price

• Refinery spread squeezed

• Declined HDPE price

• Aromatics II S/D

Iran and world powers deal is done

Chinese Yuan devalued

5

6

ความกาวหนาโครงการลงทนหลก

Strategic Plans : Major Projects

7

3Q/15 4Q/15 2016 2017 2018 2019 2020 2021

Phenol II • Progress: 99%

TOCGC Improvement • Construction Completed • Under Performance test run

PO/Polyol US Petrochemical Complex

2015

Aromatics II Debott. • Progress : 99.5%

HDI Monomer France mLLDPE

HDI Derivative Thailand

MTP Retrofit

Technically Recoverable Shale Gas Resources

US Petrochemical Complex

โครงการปโตรเคมคอมเพลกซ

World Scale Ethane Cracker • ใชอเทนจาก Shale Gas เปนวตถดบ • ก าลงการผลต : เอทลน 1 ลานตน/ป • ผลตภณฑตอเนอง

• HDPE : 700 พนตน/ป • MEG : 500 พนตน/ป • EO : 100 พนตน/ป

• ทต งโครงการ : รฐ Ohio สหรฐอเมรกา • เงนลงทน : ~US$ 5.7 Billion • การลงทน : JV

เขาถงแหลงวตถดบทมตนทนต า

ปจจยส าคญของการพฒนาโครงการฯ

วตถดบมปรมาณส ารองสง

U.S. 1,161 Tcf

Canada 573 Tcf

Mexico 545 Tcf

Others 3,599 Tcf

Total 7,795 Tcf

China 1,115 Tcf

Argentina 802 Tcf

Tcf : ลานลานลกบาทฟต

8

Collaborative with VISTEC

• Research topics/funding aligning with PTTGC’s interests

• Scale-up/Piloting and Commercialization (incl. IP)

• Research and develop proof-of-concept

• Pool of high-skill researchers and international R&D networks

New Products/Technologies

VISTEC-led Projects

• VISTEC to lead and conduct research projects as per PTTGC’s direction

• VISTEC to coach and guide PTTGC’s researchers

PTTGC-led Projects

• VISTEC’s faculty/adjunct professors to provide technical advice to PTTGC on the research projects

9

10

Recognition ด าเนนธรกจตามมาตรฐานโลก…โดยคนไทย…เพอคนไทย

11

ผลการด าเนนงานกลมธรกจและเงนลงทน

18%

4%

70%

2% 4%

2%

Adjusted EBITDA

45%

12%

33%

3% 7%

Sales Revenue

Overview of Business Unit’s Performance

3Q/15 Revenue and Adjusted EBITDA Structure

93,620 MB 10,511 MB

% Adjusted EBITDA Margin

(Unit: MB) 3Q/14R 2Q/15 3Q/15 YoY

% + /(-) QoQ

% + /(-)

Sales Revenue 141,081 111,169 93,620 -34% -16%

EBITDA 12,728 16,055 7,824 -39% -51%

EBITDA Margin (%) 9% 14% 8% -7% -42%

Net Profit 7,658 8,974 1,207 -84% -87%

EPS (Baht/Share) 1.70 1.99 0.27 -84% -87%

Adjusted EBITDA* 15,582 13,784 10,511 -33% -24%

Adjusted EBITDA Margin (%) 11% 12% 11% 2% -9% Note: * Adjusted EBITDA refers to EBITDA excluding impact of inventory value (Inventory gain/(loss) and NRV)

12

3Q/14R 2Q/15 3Q/15

Business Unit :

Refinery 3 5 4

Aromatics 9 9 4

Olefins and Derivative 28 28 24

Green 1 1 6

HVS 11 6 6

Average 11 12 11

เงนลงทนป 2558-2562 CAPEX to Support Growth

13

193 226 251 252

228 242 251

175 32

38 24

325

280 262

47

36

19

36 58

66

6 1

26

39 7

738

614 616

389

263 248 251

545

387 365

138

36 6 1

2013A 2014A 2015 2016 2017 2018 2019

Green

1-step

Core uplift

Phenol

Annual Maintenance

Total

Total Growth Project

Approved CAPEX Plan 2015 -2019*

Unit: USD mn

Uncommitted 5 Years Investment CAPEX

$1 Bn secured from USD Bond issued in Sep’12

Green

5%

64%

1-Step Adjacencies

31%

Core Uplift

$ 4.5 Bn

$ 2.5 Bn Cash Flow

From Operation

$ 2 Bn Debt

Financing

*FX = 30 THB/USD

14

Q & A

Map Ta Phut Retrofit : The Possibilities

Objective : Utilize light naphtha being sold to external customers

Downstream Product Value Creation

Timeline

ARO FFU

Condensate MaxEne Unit Olefins Cracker

HN

Aromatics Complex HN

n-Paraffin Olefins Products

Aromatics Products

Upstream Maximize Product Value

To Create Additional Olefins Feedstock Volume • Install MaxEne Unit within Aromatics plant to generate n-

Paraffin for Naphtha cracker

MTP Retrofit Configuration is to be finalized by end of 2015

To Utilize Gas Feedstock from Modified Olefins Plant

• Debottleneck PTTPE Plant to use excess gas feedstock reshuffled from modified olefins plant

Possibilities under study

15

Modify Olefins Cracker for Flexible Feedstock

To Utilize naphtha being sold to spot market for captive use

• Modify olefins plant (i.e. I-1) to be flexible in feedstock and resilience to feedstock price

• Modify olefins plant to run as a pure naphtha cracker

• Create Olefins and by products capacity addition

Refinery Modify Olefins I-1 LN

Capacity Expansion Study

PE / Special PE

EO / EG

PP

Acrylic Acid SAP

SM

MMA MS

Butadiene

AN ABS / SAN

PS / Special PS

Potential Product

Existing Product

Legends PTTGROUP Product

SSBR/TPE/PBR

Compound

Polyurethane Chain Updates

PO/Polyols Project Update • License : Signed engineering service agreement for both PO and

Polyols

• Finance: Exploring project financing, engaging potential lenders

• Engineering : Issued TOR for FEED contractor, expect to award contractor by December 2015

• Marketing: Shortlisted PO customers and conducting market survey for Polyols potential buyers in 5 countries

• Partners:

Isocyanate Update

2016 2017

4Q/16 Set up JV company

2019

2Q/17 Construction

COD 4Q/19

• TDI Development : Engaging 2 external consultants to jointly develop a specific Basic Engineering Design Package (BEDP) for a future unit development in Asia. Proceeding with technology and process improvement to optimize productivity and cost efficiency.

• HDI Derivatives Thailand: Under construction with project progress of 95%

• Convert TDI to HDI, France: Detailed engineering & construction of new parts, project progress : 20%

• HDI Derivatives in Freeport, USA : Under feasibility study

16

Isocyanate • TDI/HDI

EO

Polyols System House PO Propylene

PU Formulation PU Raw Materials Feedstock

Cumene

1

2 160 KTA

• MDI

Capacity 200 KTA PO

Licensor

Capacity 130 KTA Polyols

Licensor

PO Polyols/ System House

Total CAPEX of approx. USD 1 Bn

Majority Shareholder

Majority Shareholder

1 2

COD: 2016 Cap.: 12 KTA CAPEX: 40 MEUR

COD: 2016 Cap.: 70 KTA CAPEX: 17 MEUR

COD: 2019 Cap.: 12 KTA