1Q/2015 Analyst Meeting May 15, 2015

Disclaimer

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.

2

1Q/15 Highlight

Operation & Financial Performance

Industry Outlook

Strengthening Core Business and Beyond

Appendix

1

2

3

4

5

Agenda

3

71,854 60,949 49,941

104.5 74.4 51.9

Highlight: 1Q/15 Performance Overview of Business

Net Sales (net excise)

Dubai

Unit: $/bbl

344

(5,779)

3,832 Net income

Unit: MB

Unit: MB

Market GIM 7.8 10.4 13.1

(0.5) (16.0)

(0.5)

1.1

(0.4)

(0.02)

8.5 (6.0) 12.5 Accounting GIM Oil hedging

Unit: $/bbl

1Q/14 1Q/15 4Q/14

QoQ 18 % YoY 30 %

YoY 47% QoQ 307%

4

Stock G/(L) Net LCM

QoQ 30% YoY 50 %

1. In 1Q/15, average Dubai price dropped to 51.9 $/bbl from 74.4 $/bbl in 4Q/14, because OPEC maintained high level of production and US crude oil stock kept on rising. In addition, the completion of primary agreement between US and Iran regarding nuclear issue will make Iran export more crude oil in the future. This will put more pressure on crude oil price.

2. Net sales were 49,941 MB in 1Q/15, dropping by 18% from 60,949 MB in 4Q/14 because of 20% lower product prices and 2% higher sales volume.

3. Market GIM in 1Q/15 was 13.1 $/bbl, up by 2.7$/bbl compared to 10.4 $/bbl in 4Q/14 because of better product spreads and benefits from Delta project.

The Accounting GIM in 1Q/15 was 12.5 $/bbl, increasing from -6.0 $/bbl in 4Q/14 mainly due to significantly lower stock losses and reversal of LCM.

4. Net profit was 3,832 MB in 1Q/15, compared to net losses of 5,779 MB in 4Q/14.

YoY 1,014% QoQ 166%

Operational Excellence

Commercial Excellence

Procurement & Human Resource Excellence

• VCM/LP Upgrade, Production Planning and Schedule Optimization

• Yield and Process Energy Optimization • Utility System Optimization • Reliability and Asset Integrity Enhancement • Overhead Cost Management • UHV Enhancement • Margin Improvement

• Petrochemical Marketing and Sales Excellence

• Petroleum Marketing / and Sales Excellence

• New upgraded LP (best-in-class standards tools), enabling optimum crude selection

• Optimized processing operations unit

• Optimized steam and power generation

• Minimized unplanned shutdown

• Shortened time required for turnaround

DELTA Benefit Summary

Highlight: Delta Project

* Include working capital benefit of $6.7 million 67.7

28.5

20.8

18.4

Actual

5

• Lower total costs of ownership

• More efficient procurement process

• Reduced non-moving inventory of spare parts

• Budget saving

• Reallocation of spot/term contracts for petroleum products

• Focus on higher margin and high potential customers, and maintained customer royalty for petrochemical products

• Procurement Best Practice & Sourcing Optimization

• Internal Organization Merger • Leadership Development • HR Operation Expenses Management

2014 1Q/15

25.9

12.5

12.3

1.1

Unit: MUSD

*

Highlight: 1Q/15 Update Fire Incident Update

UHV Project Progress: 93% % as of April 2015, COD within 2015

• VGOHT Unit: Completion of repair and replacement for defective equipment with

VGOHT’s commission and stability production test run

COD on April 12, 2015

• Insurance Claim: Expected receipt of remaining claim within 2015

6

Lawsuits Settlement

• Benefits from the land of 1,000 Rai purchased through a selling mechanism by the official receiver.

• Gains from reversing TPI Aromatics doubtful account of 2,823 MB

• Cooperation between IRPC and Blue Light Industrial, a launch of the luggages made from Green ABS under the CAGGIONI brand

Above ground piping 400 KV Sub Station Atmospheric tank painting DCS in Control Room

Marketing

1Q/15 Highlight

Operation & Financial Performance

Industry Outlook

Strengthening Core Business and Beyond

Appendix

1

2

3

4

5

Agenda

7

Petroleum Performance Dubai Crude Price & Petroleum Product Spreads

$/Ton 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 Fuel Oil(FO) 610 607 591 437 318 150BS - FO 600 628 657 776 720 500SN - FO 486 501 499 493 369 Asphalt - FO -68 -78 -66 85 23

104 105 104 105 106 108 106 102 96 87

76 60

46 55 55

1Q/14 2Q/14 3Q/14 4Q/14 1/Q15

Dubai Price

($/BBL)

$/bbl 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 Dubai (DB) 104.5 106.1 101.5 74.4 51.9 NP - DB -1.5 -1.0 -1.6 -5.1 1.4 ULG95 - DB 14.6 16.1 13.2 13.4 15.3 Gas Oil - DB 17.8 16.0 14.4 16.0 16.3 FO - DB -8.5 -10.6 -8.4 -5.6 -1.8

613 612 604 596 605 618 601 594 578 502

456 353

279 346 328

Fuel Oil

($/Ton)

FO Price & Lube Base Oil Product Spreads

• Naphtha spread rose as a rising of LPG Price ahead of winter season and the incremental demand from Taiwan, ahead of a planned partial turnaround in Mar.

• ULG95 spread rose as refineries in Asia and US shutdown for maintenance.

• Gas Oil spread slightly increased on solid demand for heating oil in the winter and tight supply from the maintenance shutdown of refineries in US.

• FO spread increased due to the speculation of the storage of fuel oil in the vessels in the time of the low crude oil price.

1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 8

• Lube spread fell from additional supply of Lube Group II from Korea and Singapore.

• Asphalt spread was a little bit lower due to the decline in construction activities after year end.

• Global crude oil price is still under pressure from excess crude supply from both OPEC and Non-OPEC oil producers.

1.3 0.6 0.9 2.8

5.2 1.8 1.1 1.3

1.9

1.8

3.1

1.7 2.2

4.7

7.0

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

Lube Base

Refinery

Petroleum Performance

• In 1Q/15, the crude intake was 180 KBD

(84% utilization), similar to the rate in

4Q/14 as the VGOHT unit still shutdown.

• Domestic crude intake was 13 KBD,

decreasing 1% from the previous quarter

9

65% 65% 65% 67% 60%

5% 6% 16% 8% 19% 14% 18% 11% 8% 7% 16% 11% 8% 17% 14% Others

Domestic

Far East

Middle East

Crude Run (KBD)

80% 80% 76% 84% 84%

172 173 163 180 180

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

5.17 3.89 3.31 2.97 2.00 Premium over Dubai($/ bbl)

%Utilization

$/ bbl

Market GRM

Crude Intake

Sales Volume

12.4 12.3 12.2 13.0 12.9

1.6 1.7 2.1 2.5 2.5

14.0 14.0 14.2 15.5 15.4

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

Lube

Refinery

M.bbl

15.5 15.7 14.9 16.6 16.2 156 154 155 168 172 KBD

Crude intake (M.bbl)

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

Naphtha (NP) 935 951 913 647 494

Ethylene-NP 507 496 565 567 533

HDPE- Ethylene 106 121 135 334 266

HDPE- NP 613 617 700 901 799

Propylene-NP 435 328 388 385 339

PP-Propylene 200 309 325 419 316

PP-NP 635 637 713 804 655

10

Petrochemical Performance Olefins Product Price & Spreads

Aromatics & Styrenics Price & Spreads

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

Naphtha (NP) 935 951 913 647 494

BZ - NP 364 341 392 318 179

TOL - NP 161 135 234 183 127

MX - NP 169 115 225 162 169

SM - NP 724 674 688 602 524

PS - NP 863 804 821 816 674

ABS - NP 980 974 1,033 1,119 1,068

• HDPE spread against Naphtha decreased due to the increase of Naphtha price caused by lower supply of US refineries which had a maintenance shutdown.

• PP spread against Propylene and Naphtha dropped as a result of additional PP capacity from China around 1.6 million tons per year.

• Toluene spread fell because of a downward pressure from low price of Benzene.

• Mixed xylene spread rose, affected by strong demand of Paraxylene.

• ABS and PS spread continued to drop because of the lower demand caused by the slowdown of the economy in China and higher production rate in NEA.

156 137 156

268 258

66 39

83

136 91 116

94

120

203 187

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

$/MT

2.6 2.1 2.2

3.1 4.0

0.8 0.4 1.1

1.5 1.0

3.4

2.5 3.3

4.6 5.0

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

$/bbl

Petrochemical Performance

11

Utilization Rate Sales Volume

200 194 174 164 208

143 153 148 142 153

343 347 322 306 361

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

Aromatics and StyrenicsOlefinsK.MT

Market PTF

Aromatics &Styrenics Olefins

Market PTF

Aromatics &Styrenics Olefins

98% 90% 84% 77% 89% Olefins

85% 80% 87% 74% 77%

Aromatics&Styrenics

Utilization rate of aromatics & styrenics in 1Q/15 was 77%, increasing 3% compared to the rate in 4Q/14, because of planned shutdown of NHTU unit and Reformer unit for 15 days.

Utilization rate of olefins in 1Q/15 was 89%, increasing by 16% compared to that in 4Q/14 because of ethylene plant’s maintenance shutdown in 4Q/14.

15.5 15.7 14.9 16.6 16.2 Crude intake (M.bbl)

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

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

Overall Performance Market GIM

3.1 1.7 2.2 4.7 7.0 3.4

2.5 3.3 4.6

5.0 1.3

1.2 1.2

1.1 1.1

7.8 5.4 6.7

10.4 13.1

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

Power & Utility Petrochem Petroleum$/bbl

Accounting GIM

12

1Q/15 vs. 4Q/14

• In 1Q/15, Market GIM was 13.1 $/bbl, rising by 2.7 $/bbl compared to 10.4 $/bbl in 4Q/14. - Product spreads 2.26 $/bbl - Delta project 0.42 $/bbl

• Oil hedging losses were -0.02 $/bbl (-10 MB), declining by 0.38 $/bbl compared to -0.4 $/bbl in 4Q/14 (-206 MB). • Stock losses and gain from reversal LCM were -0.5 $/bbl (-282 MB), rising by 15.5 $/bbl compared to Stock losses

and provision for LCM of -16.0 $/bbl in 4Q/14 (-8,785 MB). • Accounting GIM was 12.5 $/bbl (6,722 MB) higher by 18.5 $/bbl from -6.0 $/bbl (-3,303 MB) in 4Q/14.

$/bbl

7.8 5.4 6.7 10.4

13.1

-0.5

1.9

-4.5 -16.0 -0.5

1.1 1.9 0.8

-0.4

-0.02

8.5 9.2 3.0

-6.0 12.5

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

Oil Hedging Stock G/(L) & LCM Market GIM

Gain from Reversing Doubtful Account

Received debt repayment 3,878 MB

Balance after offsetting of assets and liabilities 1,055 MB

Gain from Reversing Doubtful Account 2,823 MB

The Board of Directors approved a land purchasing from TPI Aromatics Plc.

IRPC and Official Receiver entered into a land purchasing agreement

IRPC received debt repayment of 3,878 MB, net gains 2,823 MB

December 2014

February 2015

April 2015

13

Financial Highlight: 1Q/15

Unit : MB Quarter % Change

1Q/15 1Q/14 4Q/14 YoY QoQ

Net sales 49,941 71,854 60,949 (30%) (18%)

Market GIM 7,014 3,970 5,688 77% 23% Stock Gain/(Loss) (3,541) (207) (5,839) (1,611%) 39%

LCM 3,259 (21) (2,946) 15,619% 211%

Oil Hedging Gain/(Loss) (10) 580 (206) (102%) 95%

Accounting GIM 6,722 4,322 (3,303) 56% 304% OPEX & Selling Exp. (3,329) (2,760) (3,264) 21% 2%

Other Income 321 306 532 5% (40%)

Insurance Claim - - 1,000 - (100%)

EBITDA 3,714 1,868 (5,035) 99% 174% Cost of Finance (507) (365) (309) 39% 64%

FX Gain/(Loss) 174 156 (254) 12% 169%

Impairment Gain/(Loss) 24 - (185) - 113%

Investment Gain/(Loss) (85) 35 (55) (343%) (55%)

Reversal of Doubtful Debt 2,824 (6) - 47,167% -

Income Tax (992) (67) 1,393 (1,381%) (171%)

Net Profit 3,832 344 (5,779) 1,014% 166%

Remark

Net Sales YoY: product prices 39%, sales volume 9% QoQ: product prices 20% , sales volume 2%

Market GIM YoY: 5.3 $/bbl: + 4.04 $/bbl from spread,

+ 1.21$/bbl Delta project QoQ: 2.7 $/bbl: + 2.26 $/bbl from spread,

+ 0.42 $/bbl Delta project

Stock G/(L) net LCM: net losses 282 MB in 1Q/15 (0.5 $/bbl) , Avg. Dubai at 51.9 $/bbl

Oil Hedging 1Q/15 Hedging 13% of production (4Q/14 = 20%,1Q14 = 41%)

OPEX & Selling Exp. YoY: 21% from maintenance, insurance exp. & donation 185 MB QoQ: relatively close to the amount in 4Q/14

Cost of Finance: gains from CCS

FX Gain/(Loss) Mar 31, 15: Ex.rate = 32.70 $/฿

Dec 30, 14 Ex. rate = 33.11 $/฿ Investment: Loss from associate companies

Reversal of Doubtful Debt: net received debt repayment from TPI Aromatics Plc.

Income Tax: Tax rate 20%

14

42,735 51,944 51,780

5,620 8,847 4,752 48,355

60,791 56,532

2,974 2,009 1,964

1Q/14 4Q/14 1Q/15

Long term Short term Cash & S/T investment

Debt Portfolio

Float 36 THB 62Fixed 64 USD 38

Currency (%) Interest Rate (%)

Net Debt = 54,568 MB

Debt Structure As of Mar 31, 2015

ST Loan 4,752LT Loan 16,389

Bond (USD) 7,774Bond (THB) 27,617

Total 56,532

Debt (MB)

ST Loan 8% LT

Loan 29%

Bond (USD) 14%

Bond (THB) 49%

45,381 58,782 54,568

1Q/14 4Q/14 1Q/15

Cost of Debt 3.90% 3.94% 3.91%

Debt Profile

1.16 0.94 0.85

1Q/14 4Q/14 1Q/15

0.60 0.87

0.76

1Q/14 4Q/14 1Q/15

Net D/E CA/CL

USD/THB = 32.70

Net Debt

Unit: MB

15

Maturity of Financing Debt

2,370 2,740 3,040 2,340 3,340 6,870 327 654 654 3,107 654

327 5,000

7,386 5,000 3,364

6,890

7,783

7,697

3,394

18,863

10,447

7,358

14,087

2015 2016 2017 2018 2019 2020 - 22

THB Loan

USD Loan

THB Bond

USD Bond

Financial Ratios

Unit: MB

As of Mar 31, 2015

1Q/15 Highlight

Operation & Financial Performance

Industry Outlook

Strengthening Core Business and Beyond

Appendix

1

2

3

4

5

Agenda

16

Challenging Crude Oil Market: Volatile Crude Oil Price

17

Crude Oil will Face the Over Supply Situation OPEC Production at the Full Tilt US weekly oil rig count vs. crude oil production

Floating Storage on Rising in the Beginning of the Year

18

The US rotary oil rig count experienced an uptrend in 2014, but that trend has reversed from Dec14, peaked at 1,575 rigs then decreased to 813 rigs in Mar15.

Source: IEA monthly data and euanmearns.com, Mar 15

OPEC 12 Crude Oil Production Capacity

Source: Baker Hughes and US Energy information Administration

Source: PIRA, Jan 15 Source: PIRA, Bloomberg

Potential storage revenue in current market sharply drop in 2H/15

• Based on current floating storage, total floating

incentive, PIRA estimates that this contango

average roughly -0.54 $/bbl per month not to

induce further activities.

Floating Storage Currently Uneconomic (5-Day Avg Through May 7,2015)

19 Source: PIRA, Apr 15

Source: PIRA, Apr 15 Source: PIRA, Apr 15

$/bbl

Short-Term Crude Oil and Petroleum Products Outlook

Driving Determinants

20

Key Products

Price (1Q/15)

Spread (1Q/15)

2Q/15

vs. 1Q/15

3Q/15 vs.

2Q/15

Refinery ($/bbl) ($/bbl)

Outlook Outlook

Dubai 51.9 -

ULG95 67.2 15.3

GAS OIL 0.05% 68.2 16.3

FO 50.1 -1.8

Lube Base Oil ($/Ton) ($/Ton) Outlook Outlook

500 SN 687 369

150 BS 1,030 720

• Q2 Price trends up relating to crude price trend and short supply from N.E. Asia refineries’ maintenance turn around

• Normally, region demand drops in Q3 according to monsoon season

• Gasoline spread in Q2 becomes better as a result of driving season and maintenance turn around. Then, the spread goes downward from the return of the refinery after the maintenance turn around.

• Gasoil cracks have come off a bit. Middle East refinery startups increase supplies for export. This will take time to be digested by the market.

• Fuel oil may face a headwind from steadily high inflows from the West and sluggish bunker demand due to non-improving economy.

• Crude prices are continuing to rise due to the sentimental decline in oil rig count in US and M.E. tension.

Short-Term Petrochemical Products Outlook

21

Key Products

Price (1Q/15)

Spread (1Q/15)

2Q/15

vs. 1Q/15

3Q/15 vs.

2Q/15

Olefins ($/Ton) ($/Ton)

Outlook Outlook

Ethylene 1,026 532

HDPE 1,293 799

Propylene 833 339

PP 1,149 655

Styrenics ($/Ton) ($/Ton) Outlook Outlook

PS 1,168 674

ABS 1,562 1,068

Driving Determinants

• Polyolefins prices and spreads will remain high in Q2 due to peak crackers’ scheduled turnaround and unplanned shutdown from Mar - May.

• Downstream demand is improved by restocking, firmer upstream cost, limited supply availability, as well as the preparation for production of end-products which are used in Summer season.

• Asia styrene monomer (SM) and its downstream prices are extended gains amid a recovery in crude futures and tight availability in the region which is likely to persist in the near term thus lending support to the market.

• Downstream demand is expected to robust by manufacturing activities improvement in Q2-Q3.

• Olefins market sentiment remained firm in Q2 supported by tight supply situation, firm feedstock price and improvement in demand.

• Increased Ethylene supply from ME and deep-sea cargoes coupled with complete TA in NEA will put the pressure on the market in Q3

• Additional propylene supply from the new on-propose units in China keeps on-going pressure on the market

1Q/15 Highlight

Operation & Financial Performance

Industry Outlook

Strengthening Core Business and Beyond

Appendix

1

2

3

4

5

Agenda

22

Strengthening Core Business

Operational Excellence

Commercial Excellence

Procurement & HR Excellence

118

70.7

26.4

20.9

Improve overall performance under the Delta Program

1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

Unit: MUSD

23

Strengthening Core Business

16%

22%

31% 33% 34% 35% 38% 40%

47%

54%

60%

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

1.5X

1.2X

1.1X

Sales volume (Ton)

1.3X

Strategic move to High-Value Specialty Products

1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

Nano

ABS Powder Wood

Composite

PE-Pipe

AMSAN

Anti-dripping

Green ABS

EPS

Superadsorbent

Wire&Cable

Conductive UHMW-PE

Plastic Compound

Natural Color Compound

24

Strengthening Core Business

Ton

11,703 15,068

18,221 17,583 21,838

41,515

0

10,000

20,000

30,000

40,000

50,000

2011 2012 2013 2014 2015F 2020F

Sales Plan

Sale volume +90%

949 1,193 1,425 1,391 1,766

3,357

34 50 56 50

62

118

0

20

40

60

80

100

120

140

0

1,000

2,000

3,000

4,000

5,000

6,000

2011 2012 2013 2014 2015F 2020F

Revenue (LH)Net Profit (RH)

Sale value: MB

Revenue +90%

Net profit +90%

IRPC A & L Company Limited Distribute ABS and ABS Color Compound Products for the automotive industry, electronics, and office equipment

Lamp housing • PC/ABS • ASA

Marque • ABS

Front Grill (Radiator Grill) • ABS, AES • PC/ABS

Pillars •AES

Instrument Panels •PC/ABS Cub Holder • ABS Air Conditioner Vent Nozzle • ABS

Outer Door Window Housing • ABS • PC/ABS

Outer Door Handle •PC/ABS

Note : TABS held by IRPC at 100% : NAL held by Sumitomo Corp. at 85%

Shareholding Structure

• Thai ABS(TABS) 60% • Nippon A&L(NAL) 35% • Sumithai 5%

Performance Plan

Net profit: MB

1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

25

Strengthening Core Business

IRPC Polyol Company Limited & PCC Rokita SA (Poland) Signed a joint venture agreement on January 9, 2015 to distribute Polyurethane

Registered Capital of 10 MB Shareholding Structure

• IRPC Polyol Co., Ltd. 50% • PCC Rokita SA (Poland) 50%

Focusing on production technology transfer of high value specialty products to meet customer needs.

050

100150200250300350

2011 2012 2013 2014 2015 2016 2017 2018 2019

Net Profit Sharing

05,000

10,00015,00020,00025,00030,000

2011 2012 2013 2014 2015 2016 2017 2018 2019

Standard productHigh-value product

0

5,000

10,000

15,000

20,000

2554 2555 2556 2557 2558 2559 2560 2561 2562

Standard productHigh-value product

Max capacity 25,000 MTA

Max capacity 19,000 MTA

Ton

2554 2555 2556 2557 2558 2559 2560 2561 2562

Ton

MB

2011 2012 2013 2014 2015 2016 2017 2018 2019

Polyol Base Sales Plan

PU System Sales Plan

Performance Plan

2011 2012 2013 2014 2015 2016 2017 2018 2019

1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

26

Strengthening Core Business

39 101

316

460 493

0

200

400

600

800

1,000

1,200

2013 2014 2015 2016 2017 2018 2019

Take Equity

IRPC Clean Power Company Limited The Company was incorporated on June 20, 2014

Net Profit (MB)

2015: COD • Aux Boiler: Steam 100 T/h • Co-gen 1 unit:

• Electricity 45 MW • Steam 70 T/h

2017: COD • Co-gen 4 units:

• Electricity 240 MW • Steam 200 T/h

Capacity

Performance Plan

Registered Capital of 3,362.3 MB Shareholding Structure

• GPSC Plc. 51% • IRPC Plc. 49%

To produce electricity and steam for EGAT’s SPP contract and UHV project

As of April 2015 Progress: 52%

1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

27

413601

692 741 744838

1,126

0

500

1,000

1,500

CTO*

#

Splitte

r

Naph

tha(In

tegrat

ed)*

Naph

tha(No

n-Inte

grated

)*

PDH

Metat

hesis

MTO*

^

Dollar

s Per

Metric

Ton

NEA Propylene Cash Cost

Source: IHS Chemical

*Per Metric Ton of Light Olefins#Basis: Inner Mongolia, NW China ^Basis: Shanghai, E China

© 2015 IHS

UHV Cost Competitiveness

28

UHV

Upstream Project for Hygiene & Value-added Products (UHV): Upgrading low value product (Fuel Oil) to be high value-added product for petrochemical feedstock: Propylene 320 KTA and Heavy

Aromatic Naphtha 250 KTA

Strengthening Core Business 1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

Existing Propylene

UHV

412 KTA

320 KTA

Total Propylene

732 KTA

Source: HIS Chemical: April 9, 2015

23% 8%

14%

10%

40%

38%

5%

10%

16%

21%

2%

5% 6% 2%

0%

20%

40%

60%

80%

100%

IRPC IRPC+UHV

Ethylene

Propylene

LPG

Naphtha +Reformate

Gasoline

Diesel/ JetFuel

Lube Oil

Fuel Oil

Source : Nexant July 14

IRPC Petrochemical Business Analysis

• Focus on propylene & polypropylene chain due to

solid competitive advantage.

• In particular, the technology in the DCC-based UHV

project is one of the most competitive technologies in

propylene production.

• To shelter from downward propylene price pressure,

additional propylene is to be integrated to

polypropylene production.

PP Existing 475 KTA

PP Expansion 160 KTA

PPC 140 KTA

PP 635 KTA

PP Inline Compound (PPC)

Random PP

Specialty PP

Block-CO PP

HOMO PP

• Pipe grade • Hygiene

• Container box

• Household Material

• Heavy-duty

• Film application

• Fiber grade

PP Compound • Frozen food packaging

• Lamination • Health care • Automotive

Total PP Capacity 775 KTA

Strengthening Core Business 1. DELTA 3. Joint Venture 5. PPE+PPC 4. UHV 2. Specialty Product

29

Strategic Initiatives: Roadmap to Success

• DELTA Initiative Implementation • Assets Management (Bankai/EIZ)

Para-Xylene (PX)

Acrylic Acid (AA)

• CHP I: Electricity +220 MW, Steam +420 T/hr • PRP +100 KTA of Propylene • EURO IV: Gasoline 15 KBD, Diesel 10 KBD, Jet 15 KBD • TDAE +28 KTA, 150BS +25 KTA • Lube Blending +60 m.Ltrs./year • EBSM +60 KTA, ABS/SAN +60 KTA • HDPE: Convert commodity product to pipe grade 140 KTA

Completed Project during 2011-14

2014 Crude Run 172 KBD Nelson Complexity Index Portfolio of Revenue: Petroleum/Petrochemical & Others

After UHV Completion Crude Run 215 KBD Nelson Complexity Index More stable portfolio of Revenue: Petroleum/Petrochemical & Others 75% / 25% 59% / 41%

6.6 8.6 80% 100%

3

STS 2014: Strengthening Core Business

Super Absorbent Polymer (SAP)

Quick Win Initiatives

2015

2017

30

2014

2

1

IRPC-CP Completion (49% shareholding) • Electricity 240 MW • Stream 200T/h

The future begins now creating shared value

Q & A Environment Social Education & Sports Labor & Human Rights Religion Public Health

31

Thank You

Investor Relations Contact: ir@irpc.co.th Tel. 02-649-7380, Fax. 02-649-7379

Presentation is available at

www.irpc.co.th Click “Presentations”

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.

1Q/15 Highlight

Operation & Financial Performance

Industry Outlook

Strengthening Core Business and Beyond

Appendix

1

2

3

4

5

Agenda

33

Lube Base

DCC

Vacuum Gas Oil (VGO)

PP

PS

ABS/SAN

EPS

BTX

UHV

CCM

Acetylene Black

HDPE Ethylene

Acetylene

Propylene

Ethylene

Olefins Plant

Benzene

Toluene Mixed Xylene

Acetylene Ethylene Propylene Butadiene

Butadiene

CD1

Ethylene

EBSM

PRP

Long Residue (LS)

Long Residue

6 KTA 360 KTA 180 KTA 56 KTA

100 KTA

4 KTA

140 KTA

475 KTA

Ethylene Rich Gas

Pyrolysis Gasoline Raffinate

Propylene 132 KTA

Atmospheric Distillation Unit (ADU) 1, 2 215 KBD

Naphtha

Reformate

Ethylene Propylene

73 KTA 320 KTA

Lube Base Oil Asphalt

320 KTA 600 KTA

Polyol 25 KTA

Power Plant

Benzene Toluene Mixed Xylene

Long Residue

114 KTA 132 KTA 121 KTA

31 KTA

57 KTA

177 KTA

100 KTA

30 KTA

260 KTA

Styrene Monomer

Electricity Steam

108 MW/220 MW (CHPI) 200 T/h/420 T/h (CHP I)

Propylene

Highly Integrated and Optimized Configuration

34

Feed (Crude Oil / Condensate)

Propylene Oxide

For Sale

Transportation Fuel Gasoline, Jet, Diesel