1

Versalis technologies and capabilities: not only a market opportunity Soccol Stefano –Vice President

IP, Licensing and Business Development

2 2

1953-1954 eni acquires ANIC and inaugurates in Ravenna (Italy) one of the

largest centers of Italian petrochemical for the production of synthetic rubbers and nitrogen fertilizers derived from natural gas

Historical backgound

March 2012 Polimeri Europa becomes Versalis

2002 Polimeri Europa absorbs polymer and

chemical strategic assets of Enichem

1981-1985 eni founds Enichem (at the beginning called Enichimica) aimed to manage

ANIC and others acquired companies. Enichem will become the main Italian industrial player operating in the field of chemistry in several segments (basic

chemicals, intermediates, polymers, fertilizers, synthetic fibers and fine chemicals)

1936 Born ANIC (National Company

Hydrogenation Fuels)

1995 Establishment of Polimeri Europa, joint venture 50% -50% Enichem

and Union Carbide, aimed to serve polyethylene market

Efficiency

Market-oriented and focus on diversified

products Green chemistry

R&D enhancement

Licensing

Internationalization

March 2012

3 3

versalis european nameplate capacity chain (kty)

DCPD hp (8)

C4 mix (620 )

Propylene (760)

Xylenes + EB (255)

LDPE/ EVA (662)

LLDPE/ HDPE (722)

Cumene (300)

Ethylbenz. (550)

GPPS/SAN (195)

HIPS/ABS (245)

EPS (135)

Xylenes (180)

Cy-one & KA oil (270)

α-MS (7)

Phenol (310) & Acetone (192)

EPR/EPDM (115)

Latexes HS/LS (62) ; CBX (38)

HCBR Nd (86)

SIS/SEBS/SBS (110)

NBR (38) e-SBR (205)

Raffinates (330 )

propylene

s-SBR (40)

Ethylene (1900)

Reformate (950)

Butadiene (290 )

Benzene (580)

to market

to market to market to market

LCBR (90)

Py-gas (1300)

Steam Crackings fed by VN, GPL, others

to market

H2

Styrene (610)

EB

4 4

versalis proprietary technology(kty)

Most of the units we operate are based on internally developed process and proprietary Technologies and catalysts

We are continuously investing in process optimization, technology improvements and development of new technologies and new catalysts

The improvements in our technology portfolio are shared with our licensees that can also access to dedicated joint research programs to solve specific needs

5 5

Some examples of new process developed by Versalis in recent years

Flexibility in operation and optimization of portfolio ABS grades

Lower investment cost

Lower environmental impact

Continuous mass technology

Innovative process for production of cyclohexanone oxime. Mild operating conditions

Reduction of by products, substantially lower investment and environmental impact

Can be retrofitted on existing plants

Cyclohexanone Oxime process-Ammoximation Technology

Neodimium based high-cis polybutadiene rubber. Developed to match with the new demanding requirements of the tire sector

HCBR

Utilized with success by many petrochemical operators in caprolactam, phenol

PO processes

Proprietary TS-1 catalyst

6 6

Some examples of new process developed by Versalis in recent years

Among the first 7 producers only Versalis and another player have proprietary continuos mass technology

STYRENIC

Overall investment saving up to 35% in caprolactam compared to conventional route INTERMEDIATES

Among the first 11 elastomer producers only Versalis and other two can offer a portfolio of 7 rubber families out of the 9 actually commercialized

ELASTOMERS

In 1992 our catalyst won the Donald Breck Award for advancing the knowledge of the structures and properties of titanium MFI zeolites and for demonstrating both the potential and applications of these novel catalysts for partial oxidation reactions

CATALYSTS

7 7

Licensing: Versalis proprietary process technololgies

* Licensing through Lummus technology (CB&I company) ** Close to commercialization

Phenol & Derivatives

DMC & Derivatives

Polyethylene Styrenics Elastomers

Proprietary catalyst

technologies

Cumene PBE-1 Zeolite catalyst based*

Phenol & Acetone*

DMC & Derivatives via CO & MEOH*

DPC*

LDPE

EVA

Ethylbenzene PBE-1/2 Zeolite catalyst based

catalyst based

Styrene Monomer

GPPS

HIPS

EPS suspension/ continuous mass

ABS continuous mass

SAN

e-SBR

s-SBR

high cis BR

low cis BR

NBR

SBS

SIS

EPR/EP(D)M

Latices

Titanium Silicalite

Silicalite

PBE-1 Zeolite

PBE-2 Zeolite

Acetone to IPA

Acetone to Cumene via IPA**

high selectivity Cyclohexanone & KA-oil

Ammoxymation with TS1 Cyclohexanone and H2O2

Versalis licencing is designed to meet the customer's specific needs and support them with engineering services (up to BEDP/FEED),

technical assistance and staff training

8 8

21%

14%

12% 11%

10%

10%

7%

4%

3% 2% 2% 2%

Bulding up in the time successful cooperations worldwide

Installed capacity based on versalis technologies in the last 10 years by area

Versalis started the licensing activities in September 1992: LPDE tubular technology sold to QAPCO - Qatar Petrochemical Company

Elastomers

Polystyrene

Polyethylene

Iran

India

Malaysia

Brazil

France

Russia

China

Taiwan

Korea

Egypt

39%

61%

Ethylbenzene & Styrene Monomer

Phenol & Derivates

39%

25%

6%

29%

Iran China Malaysia

Downstream Intermediates

By Product

By Area

18%

67%

15%

Italy

UK

Taiwan

9 9

Licensing options: extended and flexible range of services

Licensing PDP,BEDP, FEED

Feasibility assessment

Assistance to commissioning and startup

Proprietary equipment design and supply

Training of the operators

10 10

Licensing options: extended and flexible range of services

Licensing

PDP,BEDP, FEED

Feasibility assessment

Assistance to commissioning and startup

Proprietary equipment design and supply

Training of the operators

Design and construction

Engineering

Procurement

Construction

11 11

Licensing options: extended and flexible range of services

Licensing

PDP,BEDP, FEED

Feasibility assessment

Assistance to commissioning and startup

Proprietary equipment design and supply

Training of the operators

Design and construction

Engineering

Procurement

Construction

After sales

Optimization

Troubleshooting

Process evaluation

New products development

12 12

Licensing options: extended and flexible range of services

Licensing

PDP,BEDP, FEED

Feasibility assessment

Assistance to commissioning and startup

Proprietary equipment design and supply

Training of the operators

Design and construction

Engineering

Procurement

Construction

After sales

Optimization

Troubleshooting

Process evaluation

New products development

Revamp projects

Extend life

Debottlenecking

Equipment replacement

13 13

Licensing options: extended and flexible range of services

Design and construction

Engineering

Procurement

Construction

After sales

Optimization

Troubleshooting

Process evaluation

New products development

Revamp projects

Extend life

Debottlenecking

Equipment replacement

Licensing PDP,BEDP, FEED

Feasibility assessment

Assistance to commissioning and startup

Proprietary equipment design and supply

Training of the operators

14 14

Flexible package of services

Versalis can offer a very flexible package of services associated with the license:

Extended engineering services including PDP, BASIC and FEED all developed with internal engineering resources

Possibility to offer a complete EPC LSTK in partnership with approved and experienced EPC contractors

On site and theoretical training for the operators in Versalis industrial facilities

Assistance to plant commissioning a start up

Support for plant optimization and improvements along the entire lifetime of the plant

15 15

In technology licensing Versalis offers the combined advantages of being in the same time:

Leading position, with a deep knowledge and Understanding of the global marked requirements and developments

Direct and day by day experience in plant operation, maintenance and optimization

Engineering Team involved in all Versalis new investments and in all the licensing Projects

Flexible and professional offer of services (PDP, BEDP, FEED)

Capability to perform internally the complete mechanical design of key and proprietary equipment

Capability to work with different standards

Capability to work in cooperation with other licensors

Capability to work in cooperation with EPC contractors

A producer An experienced

engineering contractor

16 16

Versalis an integrated producer

Versalis is present and integrated in the production chain from the

production of chemical intermediates to monomers and

polymers.

This knowledge is offered to our licensors helping to professionally

support the upstream and downstream integration of one unit in the chain as well as in

minimizing the interfaces from one unit and the other

All the technologies present in the licensing portfolio have the backup of industrial reference units of worldscale capacity

17 17

Licensing: an important vehicle to develop mutual beneficial cooperations

The possibility to offer multiple technologies covering in many cases the complete range of market applications and our capability to share our technological and market expertise has contributed to develop successful business relations with important petrochemical players

This is becoming an significant contribution to our turnaround and globalization that we are interested to further exploit

18 18

Versalis globally-oriented strategies

Opportunity under development

North America

South America

JV Hydrocarbon resins complex

(75 kty)

Integrated with C5 separation unit

JV Elastomers complex: 200 KTY

South Korea

JV Elastomers complex: 270 KTY

Malaysia

19 19

Our current licensing offer includes

Straight licensing with flexible engineering package

Integration with other technology licenses

Supply of proprietary equipment

Commercial agreements for specific products manufacturing and long term basis buy back

Equity participation in the venture

20 20

Thank you for your kind attention and I hope you will enjoy our technology presentations this afternoon