FY/13 Analyst Meeting Presentation St. Regis Hotel February 21, 2014

Disclaimer

This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described herein. This presentation contains a number of forward-looking statements including, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand.

PTTGC has based these forward-looking statements on its views with respect to future events and financial performance. Actual financial performance of the entities described herein could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking statements.

Forward-looking statements represent estimates and assumptions only as of the date that they were made. The information contained in this presentation is subject to change without notice and PTTGC does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.

2

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

3

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

4

Our 2013 Achievements in a Challenging Business Environment

5

Plant Operational Performance

Excellence Programs

Foundation for Growth

Awards and Recognition

Macro Economic Factors - Chinese Economic Slow down - THB Fluctuation - Thailand’s Political Uncertainty - QE Tapering + US slowly Recover

2013 NP: 33,277 MB

Internal Operation Factors - Unplanned S/D LDPE - Oil Spills Incident

External Operation Factors - Lower Ethane supply

due to PTT’s GSP#5 Unplanned S/D

Petrochemical Market Factors ± Oil Price Fluctuation + Stronger Petrochemical market

1

2

3

4

Our 2013 Achievements in a Challenging Business Environment

6

1. Plant Operational Performance 2. Excellence Programs Achievements 2013 Performance VS Target

Plant PlantReliability

EnergyEfficiency

Refinery

Aromatics

Olefins

HDPE

LLDPE

LDPE

EO/EG

ME+FA

Phenol

BPA

Aim for improvement and achieving more challenging targets going forward

Excellence Programs FY13 EBITDA Uplift

FY 13 Target

1. Operational Excellence 19.3 28.0Total 47 Projects achieved- 27 Energy saving Projects- 5 Plant reliability Projects- 15 Cost reduction, Yield improvement Optimization2. Marketing Excellence 155.9 113.0 - Customer Porfolio Management - Product Development - Pricing Excellence3. Synergy Projects 34.6 36.0 - Off Gas upgrading at Olefins - C3/C4 upgrading at Olefins - Heavy Aromatics - 3 Streams (Heavy gasoline, LGB, CB)4. Opportunity Synergy Projects 20.9 0.0- Biodiesel Export to China (B-100 from TOL blend with Diesel from Refinery)- Due to I-4/1 TA, transfer excess offspec Raw Pygas (normally flare) to upgrade at ARO2- Due to I-4/1 TA, transfer excess offspec C3C4 from PTTPE Cracker to Refinery C3C4 pool for

Total 230.7 177.0

Our 2013 Achievements in a Challenging Business Environment

7

Core Uplift

• BV Project

• TOCGC Plant Improvement

• PX Expansion Project

• PTTPE Cracker Debottlenecking

• LLDPE Expansion

• Phenol 2

3. Foundation for Growth

1-Step Adjacency

New Geography

• Signed HOA JV Manufacturing

and JV Marketing and Trading

• Signed MOU to jointly explore potential collaboration e.g., PU and PC chains and Bio-based chemicals and strengthen sales & market in China

• Signed MOU to study downstream product that yield benefit and fits with PTTGC’s strategy

4. Awards and Recognition

All grades of POL & EOB has been certified with Carbon Footprint Labeling Scheme

Carbon Disclosure Project Leadership in environmental management

Excellence in Labor Conditions

AMCHAM CSR Excellence Recognition 2013 Silver level in Creative partnership

#18 in ICIS Top 100 Chemical Companies in

2013

#607 in Forbes Global 2000

Board of the year Awards

2013 for Distinctive

Practices

HVS Products

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

8

EBITDA Uplift

15-30% (2012-2017)

Listed in Globally

Sustainability Index

1st Quartile

Performance

ROIC > 14%

Taking PTTGC’s Strategies into Execution The Double E (2014 – 2018)

9

People Conduct & Business Conduct PTTGC Business Principle:

Excellence Execution E E

Core Uplift

Projects

1-Step Adjacencies

Green

Operational Excellence

Marketing Excellence Synergy

Excellence

Debottle- Necking

ASEAN: Pertamina, China: Sinochem,

USA Shale Gas

Compounding PU, PC,

SBR, Nylon,

Ole Chemical

PLA

System House

Succinic Acid

PLA/PBS Compound

Execution of Core uplift Projects according to Target

Operational Excellence

Marketing Excellence

2014 2015 - 2018

Continuous improvement programs to realize value • Plant Reliability Improvement, • Energy Improvement • Safety / incident rate Improvement • Other Improvement (Cost saving, Equipment

replacement for value added)

Continue on Marketing strategy • Product development • Customer value • Strategic pricing • Build global reach • Sales force effectiveness

• Established Marketing Academy Roadmap • Develop CRM Roadmap

• Conduct Customized Training & Established Evaluation System

• Expand CRM utilization to all BUs

Core Uplift 1-Step Adjacencies Green Business

2

1

EBITDA Uplift

• 42 projects to be executed

2014 New Initiatives - Develop new products (launch 8 grades; 4 improvement grades & 4 new grades) - Increase specialty product volumes (HVP grade) - Expand PE product into domestic market - Manage PE strategic pricing by Segment

10

Phenol 2 Project

TOCGC Plant Improvement Project

BOD approved EPC + Construction

Debottlenecking & Expansion

PTTPE Cracker Debottlenecking

PX Expansion

Target COD: 3Q/15

Target COD: 4Q/15

Target COD: 3Q/15

BEP

Target : 2016

LLDPE Expansion

BEP

Target : 2017

Construction Progress at 16.7%

Construction Progress at 5.3%

Construction Progress at 34.5%

BOD approved Project

BOD approved EPC + Construction

BOD approved EPC + Construction

BOD approved Project

BOD approve EPC

BOD approve EPC

Construction

Construction

Execution of Core uplift Projects according to Target

11

2013 2015 - 2018 2014

Construction Progress at 95.3%

Target COD: 2Q/14

Synergy

Pure H2 via New PSA

Off Gas upgrading at Olefins

Construction Progress at 43.15%

Target COD: 4Q/14

Seek for additional and opportunities Synergy Benefits 4

3

Core Uplift 1-Step Adjacencies Green Business

Note: Progress as of Jan. 2014

Excellence Programs Target

12

Original Target

Adjusted Target

• Revised Operational Excellence target • Include only projects passed stage gates

Core Uplift 1-Step Adjacencies Green Business

*

*

* Debottleneck EBITDA uplift includes 1Q/14 BV project starts up 3Q/15 TOCGC Plant Improvement Project 4Q/15 PX Expansion starts up Not Including PTTPE Cracker Debottlenecking and LLDPE Expansion

Execution > 5 Growth Projects in the next 5 years Possible downstream Investment

13

Products Applications

Potential Product Opportunities

New Geographies New Products

Core Uplift 1-Step Adjacencies Green Business

Ethylene

HDPE

LLDPE

LDPE

MEG

Propylene

Oleochemicals

Paraxylene

Benzene

PTAPolyester Fiber

EOEthanolamine

Ethoxylate

Cyclohexane

Cumene

Phenol

Acetone

EB/SM

PS

BPA

Methyl Ester(B-100)

PC

Caprolactam Nylon 6

Fatty Alcohol

MMA PMMA

Epoxy Resins

ABS

SBR

PET Resin

PTT Phenol

- LPG- Reformate- Light Naptha- Jet Fuel- Diesel- Fuel Oil

Toluene

PO

Mixed C4 Butadiene

Polyols

PP

SystemHouse

HDI

TDI

PU

HDMA

Orthoxylene PA

Plasticizer

PLA Plant PLA

Succinic Acid Plant Succinic Acid

Petroleum Products

Execution > 5 Growth Projects in the next 5 years 1st Screen for Further Feasibility Study

14

PC Compounding

Commodity Compounding

1st Screen for Further Feasibility Study

Not qualify for 1st Screen

New Application Compounding

Using additives and modifiers to result with a particular color, texture, strength, and etc.

Blending two or more types of polymers together

Polymer Compounding

PU Chain System House HDI Derivatives

Bio-plastics Compounding

Core Uplift 1-Step Adjacencies Green Business

New Geographies New Products

Ethylene

HDPE

LLDPE

LDPE

MEG

Propylene

Oleochemicals

Paraxylene

Benzene

PTAPolyester Fiber

EOEthanolamine

Ethoxylate

Cyclohexane

Cumene

Phenol

Acetone

EB/SM

PS

BPA

Methyl Ester(B-100)

PC

Caprolactam Nylon 6

Fatty Alcohol

MMA PMMA

Epoxy Resins

ABS

SBR

PET Resin

PTT Phenol

- LPG- Reformate- Light Naptha- Jet Fuel- Diesel- Fuel Oil

Toluene

PO

Mixed C4 Butadiene

Polyols

PP

SystemHouse

HDI

TDI

PU

HDMA

Orthoxylene PA

Plasticizer

PLA Plant PLA

Succinic Acid Plant Succinic Acid

Petroleum Products

Nylon 6,6Adipic AcidPhenol

Signed HOA JV Manufacturing

Execution > 5 Growth Projects in the next 5 years Expanding to New Geographies

15

2013 2015 - 2018 2014

COD New Cracker + Downstream Petrochemical

Target: 2018

Distribution of PTTGC’s products in Indonesia

Finalize Site Location and Setup JV Company

Study for Backward

Integration

Cooperation on Trading activities in China

Study of possible of downstream Petrochemical

Signed JV Marketing & Trading

Incorporation Marketing and Trading JV Target May’14

Core Uplift 1-Step Adjacencies Green Business

New Geographies New Products

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

16

Business Environment and Operations Recap

Dubai crude reduced from average at 109 $/BBL in 2012 to average 106 $/BBL in 2013 from higher non-OPEC supply despite the unrests in oil producing countries.

However, Dubai crude opened at around 106 $/BBL and closed at around 108 $/BBL in 2013, contribute to Stock Gain Net NRV of 3,029 MB

FX Loss amounting to 2,272 MB, from Baht depreciation, which was led by the US FED’s signal on QE tapering, in addition with Thailand’s Political unrest.

Most Products Price/spreads increased Diesel-Dubai 17.86 USD/BBL -6% YoY FO – Dubai -8.06 USD/BBL -140% YoY PX-Cond 557 USD/Ton +3% YoY BZ-Cond 380 USD/Ton +45% YoY HDPE 1,488 USD/Ton +8% YoY MEG 1,202 USD/Ton +2% YoY

Overall utilization rate of major businesses

Dubai Crude ($/BBL)

109

106

116.1

106.4 106.3 107.4 108.2

100.7

106.3 107.3

1Q/1

2

2Q/1

2

3Q/1

2

4Q/1

2

1Q/1

3

2Q/1

3

3Q/1

3

4Q/1

3

2012

2013

31.22

30.86 31.14 31.43 31.50

30.82

29.94 30.03

31.62 31.87

1Q/1

2

2Q/1

2

3Q/1

2

4Q/1

2

1Q/1

3

2Q/1

3

3Q/1

3

4Q/1

3

2012

2013

THB/USD*

*Source: BOT Selling Rate

2012 2013 % +/-Refinery

CDU Utilization (%) 100 91 -9%Aromatics

BTX Utilization (%) 86 90 4%Olefins

Utilization (%) 88 90 2%Polymers

Utilization (%) 97 99 2%EO Based

MEG Utilization (%) 88 94 6%Green

ME Utilization (%) 101 127 26%FA Utilization (%) 93 118 27%

Phenol Phenol Utilization (%) 119 126 6%

17

Refinery Performance Lower U-Rate and GRM

19.22 20.21

15.33 16.96 17.32 17.76 17.47

19.38 19.61 16.81 17.32 17.71 19.07 17.86

-9.04 -7.42

-3.67

-10.71 -10.47

-3.35

-8.06

13.35 18.53

14.31 12.41 9.20

14.37 13.66

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Jet-Dubai Diesel-Dubai FO-Dubai Gasoline-Dubai

2012 2013 YoY

% + /(-)

CDU Utilization Rate 100% 91% -9%

Sales ('000 BBL)

Jet 6,293 7,472 19%

Diesel 38,799 31,005 -20%

$/BBL 2012 2013 YoY

% + /(-)

Dubai 109.08 105.52 -3%

Gasoline-Dubai 14.37 13.66 -5%

Jet-Dubai 17.76 17.47 -2%

Diesel-Dubai 19.07 17.86 -6%

FO-Dubai -3.35 -8.06 -140%

Petroleum Product Spread

Petroleum Sales Volume

$/BBL 2012 2013 YoY

% + /(-)

Market GRM 4.71 3.52 -25%

CDU GRM 5.84 4.37 -25%

CRS GRM 2.97 2.87 -3%

Stock (+/-) net NRV -0.3 0.84 N/A

$/BBL

7% 8% 13% 14%

55% 51%

9% 12%

16% 14%

2012 2013

LN+Ref

Jet

Diesel

FO

Others

Petr

ole

um P

rod

uct

Spre

ad

Sale

s V

olu

me

Port

ion

Note: In 2013, Refinery had Planned Turnaround of38 days

18

Aromatics Performance Higher U-Rate and higher P2F from outperform BZ

931 948 871

930 937 946 922

605 669

539 510 502 539 557

431 430 415 329 346

261

380

0

200

400

600

800

1,000

4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Condensate PX FECP- Cond BZ-Condensate

2012 2013 YoY

% + /(-)

BTX Utilization Rate 86% 90% 4%

BTX Sales Volume ('000 Ton) 1,803 1,871 4%

24% 23%

37% 38%

24% 28%

15% 11%

2012 2013

Other By-Products

Ref+LN

Paraxylene

Benzene

$/Ton 2012 2013 YoY

% + /(-)

Condensate 946 922 -3%

PX- Cond 539 557 3%

BZ-Cond 261 380 45%

2012 2013 YoY

% + /(-)

Market P2F ($/Ton) 257 297 16%

Stock Gain/(Loss) ($/Ton) 12.6 17.5 N/A

Aromatics Product Spread

Aromatics Sales Volume

$/Ton

Aro

mat

ics

Pro

duc

t Sp

read

Sa

les

Vo

lum

e Po

rtio

n

Group

Group

19

Olefins and Derivatives Performance HDPE Price Significantly Increase

944 961

858 920 946 943 921

1,399 1,477

1,433 1,490

1,549

1,354

1,487 1,369

1,459 1,444

1,569

1,664

1,362

1,534

1,247 1,282

1,173 1,143 1,208 1,179 1,202

800

1,000

1,200

1,400

1,600

1,800

4Q-12 1Q-13 2Q-13 3Q-13 4Q-13 2012 2013

Naphtha HDPE LLDPE LDPE MEG2012 2013

YoY

% + /(-) Utilization Rate

Olefins 88% 90% 2%

HDPE 99% 104% 5%

LLDPE 100% 100% 0%

LDPE 88% 70% -18%

EO 101% 106% 6%

MEG 88% 94% 6%

Sales Volume (‘000 Ton)

HDPE 778 834 7%

LLDPE 396 397 0%

LDPE 273 218 -20%

MEG 350 372 6% $/Ton 2012 2013

YoY

% + /(-)

Naphtha 943 921 -2%

HDPE 1,380 1,488 8%

LLDPE 1,354 1,487 10%

LDPE 1,362 1,534 13%

MEG 1,179 1,202 2%

Olefins & Derivatives Price

Olefins&Derivatives Volume $/Ton

Pro

duc

t Sp

read

2012 2013 YoY

% + /(-)

Adj. EBITDA Margin 27% 27% -

Sale

s V

olu

me

Port

ion

20

Phenol Performance Increasing U-Rate but lower Spread

$/Ton 2012 2013 YoY

% + /(-)

Phenol-BZ 267 242 -9%

BPA-Phenol 205 165 -19%

Phenol Product Spread

Phenol Sales Volume

KTon 2012 2013 YoY

% + /(-)

Phenol 151 128 -15%

BPA 110 149 35%

% 2012 2013 YoY

% + /(-)

Phenol 119% 126% 7%

BPA 74% 100% 26%

Phenol BPA Utilization Rate

$/Ton

165

233

245 244 245 267

242

189

268

188

128

77

205

165

0

100

200

300

4Q-12 1Q-13 2Q-13 3Q-13 4Q-12 2012 2013

Phenol-BZ BPA-Phenol

Pro

duc

t Sp

read

58% 46%

42% 54%

0%

20%

40%

60%

80%

100%

2012 2013

BPA

Phenol

Sale

s V

olu

me

Port

ion

21

Overview of Business Units’ Performance Olefins and Olefins Derivatives is still the major contributor

45%

21%

23%

5%

6% 0%

48%

20%

21%

5%

5% 1%

Reve

nue

Brea

kdow

n A

dj. E

BITD

A B

reak

dow

n

2012 2013

10

2

8

27

10

2

10

7

5

27

8

3

0 10 20 30

PTTGC

HVS

Green

Olefins

Aromatics

Refinery

2012 2013

% Adj. EBITDA Margin

563 BB 549 BB

55 BB 57 BB

16%

16%

56%

3%

3% 5% 11%

21%

60%

4%

1% 3%

22

2013 P&L Statement Slightly Soften from 3 Incident

Note: Adjusted EBITDA = EBITDA – Stock Gain/(Loss) &NRV

THB Mn % THB Mn % THB Mn % THB Mn %

1 Sales Revenue 562,811 100 549,189 100 (13,622) (2) 154,599 100

2 Feedstock Cost (468,595) (83) (444,890) (81) 23,705 5 128,428 83

3 Product to Feed Margin 94,216 17 104,299 19 10,083 11 26,172 17

4 Variable Cost (17,148) (3) (26,610) (5) (9,462) (55) (7,407) (5)

5 Fixed Cost (15,554) (3) (16,992) (3) (1,438) (9) (4,785) (3)

6 Stock Gain/(Loss) & NRV 175 0 3,029 1 2,854 1,631 1,326 1

7 Gain/(Loss) Hedging Commodity 659 0 1,626 0 967 147 499 0

8 Other Income 5,552 1 5,581 1 29 1 1,660 1

9 SG&A (10,732) (2) (12,571) (2) (1,839) (17) (3,375) (2)

10 EBITDA 57,168 10 58,362 11 1,194 2 14,089 9

11 Depreciation & Amortization (16,647) (3) (16,670) (3) (23) (0) (4,381) (3)

12 EBIT 40,521 7 41,692 8 1,171 3 9,708 6

13 Financing Expenses (Net Interest Earned) (5,523) (1) (4,525) (1) 998 18 (1,146) (1)

14 FX Gain/(Loss) 911 0 (2,272) (0) (3,183) (349) (794) (1)

15 Shares of gain/(loss)from investments (44) (0) (78) (0) (34) (77) 16 0

16 Corporate Income Tax (1,416) (0) (1,976) (0) (560) (40) (557) (0)

17 Net Profit After Income Tax 34,449 6 32,841 6 (1,608) (5) 7,227 5

Portion of Net Profit:

18 Shareholders 34,001 6 33,277 6 (724) (2) 7,421 5

19 Minorities 448 0 (436) (0) (884) (197) (194) (0)

20 Adjusted EBITDA 56,993 10 55,333 10 (1,660) (3) 12,763 8

FY/12 FY/13 YoY 4Q/13

23

3Q/13 VS 4Q/13 Performance

24

Refinery Unit 3Q/13 4Q/13 QoQ

CDU U-Rate % 98% 103% 5%

Diesel-Dubai $/BBL 17.32 17.71 2%

Gasoline-Dubai $/BBL 12.41 9.2 -26%

GRM $/BBL 3.48 3.42 -2%

Aromatics Unit 3Q/13 4Q/13 QoQ

BTX U-Rate % 91% 93% 2%

PX-Cond $/Ton 510 502 -2%

BZ-Cond $/Ton 329 346 5%

P2F (BTX) $/Ton 260 222 -15%

Olefins & Derivatives Unit 3Q/13 4Q/13 QoQ

Olefins U-Rate % 75% 90% 15%

Polymer U-Rate % 88% 99% 11%

HDPE-Naphtha $/Ton 1,489 1,536 3%

%EBITDA Margin 3Q/13 4Q/13 Refinery 2 3

Aromatics 8 5

Olefins and Derivative 26 24

Green 9 10

HVS 4 1

Average 9 8

4Q/13 Gas : Naphtha ratio = 88:12

3Q/13 Gas : Naphtha ratio = 94:6

Condensate splitter shutdown for 20 days, condensate intake decreased 2%, reformate intake increased

Unit : MB 3Q/13 4Q/13 QoQ

Operating Net Profit :

Refinery 1,131 791 -30%

Aromatics 1,210 535 -56%

Olefins 3,026 4,031 33%

Polymers (PE,BPE&I-1) 1,109 1,214 9%

EO Based (TOCGC) 855 595 -30%

Green (TOL&TFA) 358 322 -10%

PPCL -12 -63 -418%

Inter group -478 -573 -20%

Services&Others* 70 396 469%

Operating NI Total 7,269 7,249 0%

Non-recurring items

Stock Gain (Loss)&NRV 3,768 1,326 -65%

FX Gain (Loss) -738 -794 -8%

DTA (DTL) 370 -310 n.a.

Oil Spill -1,059 0 n.a.

LPG Oil Fund 0 -248 n.a.

Step up gain (Myriant) 197 n.a.

Total Non-recurring 2,341 171 -93%

Grand Total 9,610 7,420 -23%

35 41

240 231

101 116

60 44

238 245

137 120

61 67

Strong Financial Position

Key Financial Ratios

As of Dec 31, 2012 As of Dec. 31, 2013

THB 432 Bn THB 436 Bn

Cash + ST Investment

CA

PPE

Non CA

Share holders’ Equity

IBD

Liab.

Statements of Financial Position Interest Rate Currencies

63 % Fixed 53 % THB

37 % Float 47 % USD & Others

Loan Type

• Cost of long term debts ~ 4.88%

(Include W/H Tax)

• Average loan life after refinancing -

5.08 Years

Treasury policy Net IBD to Equity ratio of ≤ 0.7x Net IBD to EBITDA ratio of ≤ 2.4x

Maturity of Financial Debt* as at Dec. 31, 2013

THB 120 Bn

THB Bn

* After Refinance

16.7

8.9 9.7

14.9 14.4

7.8 11.7

1.0

32.9

0.3

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

PTTGC PPCL Others

25

1.34 1.30

0.32 0.31

0.0x0.2x0.4x0.6x0.8x1.0x1.2x1.4x1.6x

31 Dec. 12 31 Dec. 13

Net IBD / EBITDANet IBD/Equity

16.16% 14.44

% 10.43

% 9.42%

5%

10%

15%

20%

31 Dec. 12 31 Dec. 13

ROE ROA

CAPEX to Support Growth Approved and Uncommitted CAPEX Plan for year 2013 - 2017

Approved CAPEX Plan 2014 -2018 Unit: USD mn

5 Years Investment CAPEX

26

193 246 247 256 234 234

175 59 35

325 410

103

19 49

46

95

15 25

26 25

32

4

738 790

463

357

249 260

2013A 2014 2015 2016 2017 2018

Green1-stepCore upliftPhenolAnnual MaintenanceTotal

* Including the 40% acquisition of Phenol and Phenol 2 Project

*

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

27

108.2

100.8

106.3 106.8

103.7 102.5 103.5 105.0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2014 Avg. 103.5

53.3 54.7 56.4

30.4 30.2 29.6

6.3 6.4 6.6 90.0 91.3 92.6

2012 2013 2014

• U.S. shale oil production increase 1.2 MBD in 2014

• Iraq and Libya will increase 1.5 MBD their production output

• Saudi Arabia may cut back output as much as 1.1 MBD to support prices

0.4 0.3 0.2

0.2 0.2 0.1 0.1

0.0 -0.1 China Other

AsiaME Latin

AmericaAfrica America FSU EU

Crude Oil: Abundant Supply Will Soften Crude Oil Price

IEA Raised Global Demand Growth Forecast to 1.3 MBD Demand

OPEC Crude

Non-OPEC Crude

OPEC NGL

Unit: $/bbl

Unit: MBD

2014 Dubai Crude Price Will Be Lower

While Net Oil Global Supply Grows 1.6 MBD

Oceania

GDP 2013 (E) 2014 (F)

U.S. 1.9 2.2 EU -0.4 1.0

China 7.7 7.5 World 3.0 3.7

2013 Avg. 105.5

Source: PRSIM (Feb 14)

Source: IEA (Feb 14), IMF (Jan 14) Source: IEA (Feb 14)

-1.9%

28

849

231 465 1385

958

393

561 649

0200400600800

1,0001,2001,4001,600

2012 2013 2014 2015

2012 2013 2014 2015

RoW -1083 199 -11 312Middle East 30 405 425 417Asia 849 231 465 1385Demand 820 1037 1250 1033

-1,500-1,000

-5000

5001,0001,5002,0002,500

18.4 14.6

12.4 9.2

13.8 14.8 14.2 11.9

20.3 15.3 17.0 17.3 17.8 17.1 17.0 18.2

-7.3 -3.6

-10.5 -10.4

-7.3 -6.7 -6.2 -6.6

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

-204 (net) +835 +879 +2,114

2013 Est. Rest of the World

Middle East

Asia

Demand Growth 2013 Est.

Demand Growth

Diesel

Gasoline

FO

2014 Product Crack Spread Slightly Improve 2014 Marketing Excellence

• Increase domestic portfolio

• Capture higher-value market with product development

• Implement strategic pricing and channel management

Unit: KBD Unit: KBD

Unit: $/bbl

2013 GRM* : $8.19/bbl 2014 GRM* : $8.39/bbl

Note: GRM* not include fuel & loss and UT Cost

Major Global Capacity Addition Will Be Postponed to 2015

2014 Asian Capacity Addition Will Match with Demand

Domestic 63% (101 KBD)

Internal Use 5% (8 KBD)

Export 32% (52 KBD)

2014 MKT. Portfolio

Source: PRSIM (Feb 14)

Add Supply

Total 161 KBD

Refinery: 2014 GRM Slightly Improve as New Capacity Start-ups Delay

Source: JBC (Jan 14)

Source: JBC (Jan 14)

29

•Optimize BZ and phenol production to maximize value in BZ chain

•More domestic demand from IRPC’s SM expansion

•Leverage China import tax incentive to penetrate into China Market

Benzene: Another Year of Satisfactory Spread

Unit: MTA

1.7 1.9 2.1 2.1 2.2

0.3 0.4

0.7 1.1 1.1

2012 2013 2014 2015 2016

Unit: MTA

Strong Regional Demand by U.S. and China import

(0.0)

1.5 2.0

1.6 1.4 0.5

1.3

1.5 1.6 1.6

20%

30%

40%

50%

60%

70%

80%

-0.5

0.0

0.5

1.0

1.5

2.0

2012 2013 2014 2015 2016

% OR Unit: MT

Capacity Addition

Demand Growth

% Asian OR

% Global OR

417 434

325 342

381

353 356 367

1,379 1,292

1,245 1,287 1,306 1,249 1,237 1,240

300

400

500

800

1,000

1,200

1,400

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Spread : $/MT Unit : $/MT

Avg. Spread = 379 Avg. Spread = 364

Avg. 2013 1,301

2014 Marketing Excellence

China

U.S.A Export 51% (305 KT)

Internal Use 37% (221 KTA

Domestic 12% (72 KT)

Operating Rate Supported by Demand from SM and Phenol

Spread Supported by F/S Constraint in U.S.

2014 MKT. Portfolio

Avg. 2014 1,258

Spread : BZ-MOPJ

Note: IHS CMAI: Price & Supply/Demand , As of Date 18 Feb 2014

3%

Total 598 KT

30

Paraxylene: Huge Capacity Addition Will Lower Price and Spread

0.4

4.0

6.6

3.6

2.5 1.2

2.2 2.5 2.1

2.9

40%

50%

60%

70%

80%

90%

100%

0

2

4

6

8

2012 2013 2014 2015 2016

Note: IHS CMAI: Price & Supply/Demand , As of Date 18 Feb 2014

6.3 9.0 8.9

9.3

11.2

1.3

1.3 1.3 1.3

1.5

2012 2013 2014 2015 2016

• Secure domestic sales with long-term contract

• Leverage China import tax incentive to penetrate China Market

• Secure sales volume by term contract to China

Capacity Jump, Operating Rate Slump Entering towards down-cycle

Demand Growth

Capacity Addition % Global OR

% Asian OR

Strong Regional Demand by China and Taiwan import

2014 Marketing Excellence

Taiwan

China

Domestic 77% (859 KT)

Export 23% (256 KT)

Unit: MMT

Unit: MMT 2014 MKT. Portfolio

%OR

664

559

529 494

423 422 401 400

1,625

1,417 1,449 1,440

1,348 1,318 1,282 1,273

300.0

400.0

500.0

600.0

700.0

600.0

800.0

1000.0

1200.0

1400.0

1600.0

1800.0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Spread : $/MT Unit : $/MT

Avg. Spread = 561 Avg. Spread = 411

12%

Spread : PX-MOPJ

Avg. 2013 1,483

Avg. 2014 1,305

Total 1,115 KT

31

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

2012 2013 2014 2015 2016

MMT

America Europe Middle EastChina Other Asia Demand Growth

79%

83%

87%

91%

50.0

100.0

150.0

200.0

250.0

2012 2013 2014 2015 2016

%OR MMT

Source: IHS

% Global OR Capacity

434 407 402 481 499 483 452 456

1,395 1,265 1,322

1,427 1,435 1,375 1,346 1,370

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Higher planned turnaround in 1H-2014

Additional Demand/Supply Remain Balanced in 2014-15

Internal 80% (1,804 KTA)

Domestics 20% (451 KTA)

• Maximize value chain as internal feedstock

• Enhance value by domestic long-term contract

• Export unbalance from downstream turnaround

2014 Marketing Excellence

Operation Rate will be peak in 2015

2014 Ethylene Price Keep Climbing

Demand

2014 MKT. Portfolio

Total = 2,255 KT

Capacity addition

2013 Avg .1,352

2014 Avg .1,381

Avg. Ethylene-MOPJ spread 431 Avg. Ethylene-MOPJ spread 472

Unit : $/MT

Ethylene: Towards Up-cycle in 2014-15

+2.1%

32

67%

72%

77%

82%

87%

-1.0

2.0

5.0

8.0

11.0

2012 2013 2014 2015 2016

%OR MMT

America Europe Middle EastChina Other Asia Demand Growth

60%

65%

70%

75%

80%

85%

90%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

2012 2013 2014 2015 2016

%OR MMT

Source: IHS

Forecast

345 439 415 421 448 459 447 436

1,306 1,297 1,336 1,366 1,384 1,350 1,341 1,350

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

SEA Price Supported by regional Supply/Demand

2014 Marketing Excellence

%Global OR

Internal 25% (107 KTA)

Domestics 28% (120 KTA)

Export 47% (201 KTA)

• Maximize value chain via PTT Phenol

• Enhance value by domestic long-term contract

• Sell term export to niche market and end-user

Global operating rate will be pressured from large capacity additions

• Peak Turnaround in 1H

• supply gradually increase from new PDH and CTO/MTO in China

While Tighter SEA Supply/Demand in 2014 due to Lack of Capacity Addition

SEA becomes net import in 2014

% SEA OR

Capacity

Demand

2014 MKT. Portfolio

Total = 428 KT

Capacity addition

Unit : $/MT 2013 Avg. 1,326

2014 Avg. 1,356

Avg. Prop.-MOPJ spread 405 Avg. Pro.-MOPJ spread 447

Propylene: SEA Spread Increase Despite of New On-purpose Capacity in China

+2.3%

33

58% 42%

Total = 844 KT Total = 401 KT Total = 309 KT

Export Domestic 60%

40% Export Domestic

56% 44% Export Domestic

HDPE Price Trend LDPE Price Trend LLDPE Price Trend

• Expand PE domestic market share • Develop more High Value Products (HVP) • Increase value based pricing by segmentation • Leverage tax incentive to export to AEC, China

and Japan

2014 Marketing Excellence 2014 HDPE

MKT. Portfolio 2014 LDPE

MKT. Portfolio 2014 LLDPE

MKT. Portfolio

521 585 568 591 638 621 614 614

1,482 1,443 1,489 1,536 1,574

1,512 1,508 1,528

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2013 Avg. 1,488

2014 Avg. 1,531

Avg. HDPE-MOPJ 566 Avg. HDPE-MOPJ 622 Avg. LDPE-MOPJ 613 Avg. LDPE-MOPJ 759 Avg. LLDPE-MOPJ 565 Avg. LLDPE-MOPJ 617

497 586 648 719 744 767 745 739

1,459 1,444 1,569

1,664 1,680 1,659 1,639 1,653

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2013 Avg. 1,534

2014 Avg. 1,658

515 575 569 600 638 615 608 608

1,477 1,433 1,490 1,545 1,574 1,507 1,503 1,522

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2013 Avg. 1,486

2014 Avg. 1,527

Polyethylene: Economic Grow th Widens Spread

79%

81%

83%

85%

10.0

20.0

30.0

40.0

50.0

60.0

70.0

12 13 14 15 16

%OR MMT

70%

75%

80%

85%

90%

10.0

20.0

30.0

40.0

50.0

12 13 14 15 16

%OR MMT

70%

75%

80%

85%

90%

10.0

15.0

20.0

25.0

30.0

35.0

12 13 14 15 16

%OR MMT

Demand Total Capacity %Operating rate Demand Total Capacity %Operating rate Demand Total Capacity %Operating rate

% Global OR

Capacity

Demand

2014 HDPE market will be tightened due to lack of capacity additions LDPE prices stand in high level LLDPE up trend during 2014-15

+2.9% +8.1% +2.8%

34

227 157 205 117 94 276

405 463

1,134 979 1,065 1,045 1,027

1,170 1,280 1,353

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4MEG - 0.65 Ethylene MEG CMP

65%

70%

75%

80%

85%

10.0

20.0

30.0

40.0

50.0

2012 2013 2014 2015 2016

%OR MMT

Consumption Capacity Utilisation

Forecast

Lacking Capacity Additions in 2014

2014 Marketing Excellence

• Leverage premium quality and logistic advantage by selling term contract in Domestic market

• Penetrate high-margin segment in Europe

• Leverage tax privilege in AEC countries (i.e. Indonesia, Vietnam)

Domestics 94%, (360 KTA)

Export 6% (23 KTA)

Fundamental & Middle East Turnaround support Price Trend

Global Supply/Demand remain tight till 2015

0.0

1.0

2.0

3.0

4.0

2012 2013 2014 2015 2016

MMT

America Europe IndiaMiddle East China Other AsiaDemand Growth

Unit : $/MT 2013

Avg. 1,055 2014

Avg. 1,207

Avg. MEG P2F Margin176 Avg. MEG P2F Margin 310

Demand growth =1.37 million tons Capacity addition = 1.12 million tons

2014 MKT. Portfolio

%Global OR

Capacity

Total = 383 KT

MEG: Lacking of New Capacity to Support Price and Spread

Source : PCI

+14.4%

Demand

35

308 270 243 253 255 280 280 275

1,523 1,402 1,352 1,387 1,422 1,401 1,387 1,396

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Phenol - 0.88 BZ Phenol spot CMP

50%

55%

60%

65%

70%

75%

80%

85%

90%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

2012 2013 2014 2015 2016

%OR MMT

Demand Capacity %OR

Continue Massive Capacity Addition from China

Source : IHS

• Leverage premium quality and logistic advantage to maximize domestic sales

• Expand market to S.China, India

• Explore sales opportunity in US market

2014 Marketing Excellence

• Demand growth has stalled • High feedstock cost • New additional supply in Asia

Internal 56% (128 KT)

Domestics 20% (46 KT)

Export 23% (53 KT)

Operating Rate Slump, Capacity Jump

0.0

0.2

0.4

0.6

0.8

1.0

1.2

2012 2013 2014 2015 2016

MMT

China Other Asia Additional demand

2014 MKT. Portfolio

% Global OR

Capacity

Unit : $/MT 2013 Avg. 1,416

2014 Avg. 1,401

Avg. Phenol Margin 269 Avg. Phenol Margin 273

Phenol: Continue Pressured from High Feedstock cost and New Additional Supply

-1.1%

Demand

Total = 227 KT

Oversupply Squeezes Margin

36

2014 MKT Portfolio

Domestics 90%, (208 KTA)

Export 10% (23 KTA)

2014 MKT Portfolio

Domestics 34%, (37 KTA)

Export 66% (73 KTA)

• Keep market share but use pricing excellence strategy to lift up selling price

• Reprioritize key customer to archive higher Margin/T per customer

• Leveraging excellent product and service quality to achieve customers in new market

• TOL has market share 26% (while capacity share is only 15%)

• Catch up B7 demand and maintain market share by leveraging excellent product and service quality

• Find new opportunity to export B100 to China and EU

Methyl Ester & Fatty Alcohol:

0

200

400

600

800

1,000

1,200

1,400

Q1 2013Q2 2013Q3 2013Q4 2013Q1 2014(F)

Q2 2014(F)

Q3 2014(F)

Q4 2014(F)

USD/T Domestic ME Price Trend

2013 Avg .1,090

2014 Avg .1,076

ME price

CPO price

Avg. ME P2F 252 Avg. ME P2F 257

53% 64%

70% 66% 68%

0%

10%

20%

30%

40%

50%

60%

70%

80%

-

0.50

1.00

1.50

2.00

2012 2013 2014 (F) 2015 (F) 2016 (F)

Industrial Utilization MMT Domestic ME Demand vs Capacity

Market P2F

Demand

Capacity

-

500

1,000

1,500

2,000

Q12013

Q22013

Q32013

Q42013

Q12014 (F)

Q22014 (F)

Q32014 (F)

Q42014 (F)

USD/T SEA FA Price Trend FA price

CPKO price

Market P2F

94% 98%

81% 86% 88%

0%

20%

40%

60%

80%

100%

120%

-

0.50

1.00

1.50

2012 2013 2014 (F) 2015 (F) 2016 (F)

Industrial Utilization

MMT SEA FA Demand vs Capacity

Demand

Capacity

Avg. FA P2F 504 Avg. FA P2F 431

2013 FA Avg .1,496

2014 Avg .1,570

37

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

38

Conclusion Year of Excellence Execution

39

• Expect to be the starting point for Uptrend of Petrochemical industry, especially for Olefins & Olefins Derivatives

• Expect better Plant Utilization Rate, especially for Olefins and Olefins derivatives from increasing gas supply from PTT

• Focus on Excellence Execution • Operational and Marketing Excellence

• Synergy Projects

• Debottlenecking/Expansion Projects • TOCGC Plant Improvement Project • PX Expansion • Phenol 2 • PTTPE Cracker Debottlenecking • LLDPE Expansion

• To Finalize Site Location and Setup JV Company with Pertamina

• Strengthen cooperation between PTTGC and Sinochem

40

For further information & enquiries, please contact our Investor Relations Team at IR@pttgcgroup.com

Thank You

1 Thitipong Jurapornsiridee VP - Corporate Finance & IR Thitipong.j@pttgcgroup.com +662-265-85742 Puvadol Vasudhara IR Manager Puvadol.v@pttgcgroup.com +662-140-87123 Panugorn Puengpradit IR Analyst Panugorn.p@pttgcgroup.com +662-140-87144 Prang Chudasring IR Analyst Prang.c@pttgcgroup.com +662-265-83275 Chutima Jarikasem IR Coordinator Chutima.j@pttgcgroup.com +662-140-8713

Agenda

2013 Achievement

From Strategies to Execution

2013 Operating Results

Market Outlook

Conclusion

Appendix PTTPE + LLPE Expansion Projects

Green Business Roadmap

Debottlenecking/Expansion Projects

2014 Shutdown Plan

41

PTTPE Cracker Debottlenecking and New LLDPE Plant

42

Additional Capacity of PTTPE Cracker

12% Increase

CAPEX 285 MUSD

Expected IRR 17%

Target Completion 2016

PTTPE Cracker Debottlenecking

Additional Capacity LLDPE 300 KTA

CAPEX 272 MUSD

Expected IRR 16%

Target Completion 2017

Existing LLDPE

400 KTA

New LLDPE

300 KTA

Metallocene LLDPE

400 KTA

Convert to

For High Performance Market Stretch film, Agriculture Film, Heavy Duty Bag, etc.

For Conventional Market Packaging Film, Rotomolding, etc.

Ethylene from Existing Contract

which will be Expired

Ethylene

Total 700 KTA Additional Ethane from PTT • 50% Vol. with Existing Pricing

Formula • 50% Vol. with Existing pricing

Formula + 100 $/Ton Additional LPG from PTT • Existing Pricing Formula

Succinic Acid(SAC)

Butanediol (BDO)

Poly butylene Succinate (PBS)

PLA/PBSCompound

Lactic Acid(HLA)

Poly Lactic Acid(PLA)

Acrylic Acid

Corn/Sugars

CellulosicFeedstock Polyacrylic

Acid/Acrylic ester

PLA Resin

Green Business Roadmap

43

Core Uplift 1-Step Adjacencies Green Business

Summary of Debottlenecking/Expansion Projects

44

Projects Nameplate/Increase Capacity

CAPEX (USD mn)

EBITDA Uplift (USD mn)

Target Completion

1. BV Project 75 KTA of Butadiene 25 KTA of Butene-1

262 58 4Q/13

2. TOCGC Plant Improvement Project

Increases EOE capacity by 90 KTA from 336 KTA to 426 KTA

94.2 16 3Q/15

3. PX Expansion Project

PX +115 KTA BZ + 35 KTA Ox + 20 KTA

128.8 34 4Q/15 during ARO2 TA period

4. PTTPE Cracker Debottlenecking

12% Olefins Increase 285 IRR 17% 2016

5. Phenol 2 Project 250 KTA of Phenol 155 KTA of Acetone

348 IRR 17% 3Q/15

2014 Shutdown Plan

45

1Q/14 2Q/14 3Q/14 4Q/14 Refinery Aromatics ARO 1 (42 days) Olefins I-1 (37 days)

I-4/1 (23 days)** I-4/2 (25 days)*

HDPE HDPE (26 days) BPE1 (8 days)

BPE2 (15 days) BPE1 (17 days)

LDPE LDPE (15 days) LDPE (10 days) LLDPE LLDPE (20 days) TOCGC TOCGC (30 days) Phenol Phenol (39 days)

*Prelim and subject to change ** Unplanned