FY2015 Opportunity Day

Stock Exchange of Thailand, March 3, 2016

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.

Agenda

3

2015 Financial Result

Strategic Execution

Agenda

4

2015 Financial Result

Strategic Execution

2015 Highlight

5

Approved investment in 400KTA mLLDPE plant ,

completed construction in ARO II expansion and COD

MEG plant improvement

Hold 50% share in PTTPM and PTTPL in order to be

well-integrated in operation, after integrated

PPCL in 2014.

Achieved gain on inventory hedging that ease impact

from stock loss

Effective Hedging Strategy

Continue in PTT Group

Restructuring

New Capacity Pipeline

Well-integrated through value chain with PTT to

maximize benefit of achieving high ethane flow

at 251T/h with 94% run rate

Improved in Ethane flow and

OLE operating rate

Average and Ending Dubai Crude Price: USD/BBL

Average and Closing FX : THB/USD

6

Business Environment & Operations Recap

6

o Surplus crude and weak demand pressured Dubai crude to decline from average at 51.9 USD/BBL in 1Q/15 to average at 40.7 USD/BBL in 4Q/15 (2015 year end closing at 31.8 USD/BBL). As a result, PTTGC reported Stock Loss & NRV totaling 3,602 M.THB for the year.

o FX Loss amounting to 2,288 M.THB, resulting from depreciation in THB against USD from average at 32.65 THB/USD in 1Q/15 to average at 35.84 in 4Q/15.

32.48

34.25

32.66 32.45 32.10 32.71 32.65 33.26 35.25 35.84

32.58 32.60 32.52 33.11 32.70

33.93

36.53 36.25

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

Average FX Closing FX

96.6

50.9

104.5 106.1 101.5 74.4 51.9 61.3 49.7 40.7

104.8 109.2

94.6

52.9 53.4 60.2

43.5

31.8

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

Average Price Closing Price

7

Gross Refinery Margin (USD/BBL)

4.41 5.45 4.48 4.44 3.83 4.91 5.98 5.40 4.16 6.23

(4.36) (1.25) (0.69)

0.73

(2.92)

(14.68)

(1.50)

2.22

(3.22) (2.47)

0.94 0.93

0.33 0.66 0.70

2.08

(0.31) (0.04) (0.03)

3.86

0.98

5.13 4.12

5.83 1.61

(7.69)

4.17 7.59

0.91

7.63

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

Market GRM Stock Gain/(Loss) Net NRV

Hedging Gain/(Loss) Accounting GRM

Products to Feed Margin (USD/Ton BTX)

174 217 166 86

290 164 219 216 183

251

(85.91) (8.57)

-

(7.90)

40.44

(68.54) (398.22) (27.63)

54.93

(48.94) (27.79) (0.02)

(0.37)

- 2.54

88

209 158 127

222

(235)

191 271

134 226

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

Market P2F Stock Gain/(Loss) Net NRVHedging Gain/(Loss) Accounting P2F

Petroleum Products - Dubai Spread (USD/BBL)

Aromatics Products Spread (USD/Ton)

2014 2015 YoY BTX Utilization Rate 81% 74% -6% PX- Condensate 400 383 -5% BZ- Condensate 375 238 -36% Market P2F ($/Ton) 174 217 +24%

2014 2015 YoY CDU Utilization Rate 102% 100% -2% ULG95 – Dubai 14.3 18.3 +28% Jet - Dubai 15.9 13.9 -12% Diesel - Dubai 16.1 13.7 -15% Fuel Oil – Dubai (8.3) (5.0) +60% GRM on CDU ($/bbl) 5.61 7.13 +27%

Refinery & Aromatics Performance

57% 57% 60% 54% 56% 59% 56% 54% 57% 60%

35% 35% 26% 35% 40% 36% 37% 38% 35% 31%

8% 8% 13% 11% 4% 6% 7% 8% 8% 9%

3,727 3,899 799 932 965 1,032 991 932 964 1,012

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

Ethane Other Gas Naphtha

8

Olefins Derivatives Prices and Spread (USD/Ton)

HDPE Price -20% YoY -7% QoQ

1,544

1,237 1,554 1,569 1,604 1,448

1,188 1,375

1,234 1,153

1,543 1,234

1,560 1,578 1,601 1,431 1,181

1,375

1,224 1,158

1,571

1,249

1,639 1,605 1,601 1,440

1,192

1,401

1,244 1,158

1,113

948 1,182 1,093

1,143 1,035

903 1,027

1,025 837 861

491

935 951 913

647 494 563 461 445

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

HDPE (FILM) SEA LLDPE CFR SEA LDPE CFR SE AsiaMEG ACP Naphtha MOPJ

-12% YoY -8% QoQ

682 747

620 618 691

802 694

812 774 708

2014 2015 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15

+9% YoY

HDPE – Naphtha ($/T) 2014 2015 YoY Olefins Utilization Rate 91% 94% +3% Polyethylene Utilization Rate 105% 104% -1% MEG Utilization Rate 95% 96% +1% HDPE Price 1,544 1,237 -20% MEG Price 1,113 948 -15% % Adj. EBITDA Margin 26%

24%

-2%

GAS : NAPHTHA Intake %

KTons

Olefins & Derivatives Performance

Overview of Business Unit’s Performance

9

% Adj. EBITDA Margin 2014 2015

Business Unit :

Refinery 4 8

Aromatics 3 9

Olefins and Derivative 26 24

Green 4 6

HVS 5 7

Average 10 13

20%

6%

66%

2% 3%

3%

46%

18%

24%

6% 6%

FY2014 Revenue and Adjusted EBITDA Structure

550,909 MB 52,369 MB 45%

15%

30%

3% 7%

Sales Revenue

FY2015 Revenue and Adjusted EBITDA Structure

400,128 MB

27%

11% 55%

2% 4%

1%

Adjusted EBITDA

50,873 MB

Sales Revenue Adjusted EBITDA

(Unit: Million Baht) 2014 2015 YoY

% + /(-)

Sales Revenue 550,909 400,128 -27%

EBITDA 34,220 44,740 31%

EBITDA Margin (%) 6% 11% 5%

Net Profit 15,372 20,502 33%

EPS (Baht/Share) 3.41 4.55 33%

Adjusted EBITDA* 52,369 50,873 -3% Adjusted EBITDA Margin (%)

10% 13% 3%

Note: * Adjusted EBITDA refers EBITDA excluding impact of inventory value (Inventory ,NRV and extra ordinary item)

10

FY2015 Income Statements Consolidated

***

10

‘ 2014** 2015 YoY 4Q/2015

MB % MB % MB % MB %

Sales Revenue 550,909 100 400,128 100 (150,781) (27) 96,088 100

Feedstock Cost (449,497) (82) (304,672) (76) (144,825) (32) (71,547) (74)

Product to Feed Margin 101,412 18 95,456 24 (5,956) (6) 24,541 26

1 Variable Cost (28,433) (5) (25,752) (6) (2,681) (9) (6,585) (7)

2 Fixed Cost (16,389) (3) (16,143) (4) (246) (2) (4,652) (5)

3 Stock Gain/(Loss) & NRV (15,910) (3) (3,602) (1) 12,308 77 (2,053) (2)

4 Gain/(Loss) Commodity Hedging 2,249 0 2,645 1 396 18 2,853 3

5 Other Income 4,353 1 5,023 1 670 15 1,847 2

6 SG&A (10,823) (2) (10,356) (3) (467) (4) (3,033) (3)

7 รายการพิเศษ

คา่เผ่ือการปรบัโครงสรา้งธรุกิจ (2,239) (0) 0 0 (2,239) N/A 0 0

ขาดทนุจากการดอ้ยคา่ 0 0 (2,531) (1) 2,531 N/A (2,531) (3)

EBITDA 34,220 6 44,740 11 10,520 31 10,387 11

Depreciation & Amortization (15,890) (3) (16,382) (4) 492 3 (4,209) (4)

EBIT 18,330 3 28,358 7 10,028 55 6,178 6

8 Finance Cost (4,452) (1) (3,967) (1) (485) (11) (937) (1)

9 FX Gain/(Loss) 618 0 (2,338) (1) (2,956) (478) 510 1

10 Shares of profit/(loss) from investments 177 0 711 0 534 302 (210) (0)

11 Income Tax Expense (581) (0) (1,984) (0) 1,403 241 (769) (1)

Net Profit 14,092 3 20,780 5 6,688 47 4,772 5

Profit/(loss) attributable to:

Owners of the Company 15,372 3 20,502 5 5,130 33 4,690 5

Non-controlling interests (1,280) (0) 278 0 1,558 122 82 0

Adjusted EBITDA* 52,369 10 50,873 13 (1,496) (3) 14,971 16

Note: * Adjusted EBITDA refers to EBITDA excluding impact of inventory value (excludes Inventory gain/(loss) and NRV) ** Restated FY2014 Financial Statements from the implementation of new accounting standards (Pack 5) and purchasing PTTPM and PTTPL shares under

common control

2016 Outlook

11

KEY ASSUMPTIONS

• Projected to see correction in dubai price to be around $30-40/bbl on average.

• Demand & Supply balance is expected to be in 2H16 from less production from non-OPEC but will have some disruption from Iran volume.

AROMATICS

• Although, market is in oversupply situation but the product spread is expected to be improved from having low feedstock cost as low crude price.

• Capacity outage in 1H/16 will ease up oversupply situation

• Utilization rate is expected to increase from 74% to 88% with expanded capacity of 170 KTA of aromatics product.

REFINERY

• Demand growth over supply growth for refinery product both in gasoline and middle distillate. This help to ease market situation.

• Utilization rate drop from 100% to 84% due to planned shutdown in 2Q/16. GRM is expected to slightly decrease to approx. $ 5/bbl

OLEFINS & DERIVATIVES

• Improve in internal factor from expecting more gas flow to increase u rate of olefins and inventory management to ease effect from PTTPE turnaround. HDPE – MOPJ spread is maintain at more than $700/T.

Agenda

12

2015 Financial Result

Strategic Execution

Map Ta Phut Retrofit & Synergies through PTT group restructuring

13

Timeline : 2015 2018

Feasibility Study

2020

1Q/18 Construction

COD 1Q/20

2016

ITB

To study a new naphtha cracker for increasing flexibility of feedstock, especially in feedstock price volatile period, and secure downstream production along value chain as well as create value added to internal feedstock.

Readiness on location, supporting facilities & strategic partner e.g. Thai Tank Terminal

Fulfill downstream product portfolio via partnership e.g. PTT Group operating asset injection and position as a flagship in petrochemical

PO/Polyols Project Updates

2016 2017

Set up JV company

2019

2Q/17 Construction

COD 2Q/19

Timeline :

Isocyanate • TDI/HDI

EO

Polyols System House PO Propylene

PU Formulation PU Raw Materials Feedstock

Cumene

1

2 160 KTA

• MDI

Progress :

Kick off meeting with Foster Wheeler on Jan 04, 2016

Expect to complete FEED package by Jul 31, 2016

#1 Public participation meeting on Nov 26, 2015

#2 Public participation meeting on Mar 31, 2016

Polyols - Completed 1st tier market survey with partners in 6 target countries

more than 80 customers on Dec 15, 2015 and will continue in other countries

PO - Expect to complete market survey with partner in 3 target countries more than 25 customers by Mar 15, 2016

- Under developing offtake agreement with 3 offtakers with total volume covering 80% of total production capacity (incl. captive vol. for Polyols

Marketing & entry strategy will be completed by Jul 31, 2016

FEED

EIA

MARKET

Capacity 200 KTA PO

Licensor

Capacity 130 KTA Polyols

40 KTA PU System

Licensor

PO

Polyols/ System House

Majority Shareholder

Majority Shareholder

Project Scopes :

http://www.vencorex.com/http://www.sumitomo-chem.co.jp/english/

Opportunity in New Geographies

World Scale Ethane Cracker • Utilize ethane from shale gas as feedstock • Capacity : 1 MTA Ethylene • Derivatives

• HDPE : 700 KTA • MEG : 500 KTA • EO : 100 KTA

• Location : Dilles Bottom, Ohio

US Petrochemical Complex Indonesia Project

• Investment cost justify investment return • Enough ethane capacity with capped price • Partner can distribute products in N. America

Key Criteria for FID

Indonesia remains deficit in PE with additional opportunity in AEC, especially CLMV countries

Project Update

• FEED : FEED progress is approximately at 31%. EPC termsheet has been issued

• Feedstock : Working with a major ethane provider to finalize contract term

• Marketing : Continue conducting market survey phase 2 as well as exploring logistic providers options

• Permit: Preparing air permit application

KTA

-

1,000

2,000

3,000

4,000

5,000

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

D&S in AEC Country

VN Supply PH Supply MY Supply TH Supply

VN Demand PH Demand MY Demand TH Demand

Existing Non Captive Upstream

and Downstream 8,948 KTA

HDI Deriv. 12 KTA

Phenol II 405 KTA Aromatics 170 KTA

HDI Monomer 70 KTA

mLLDPE 400 KTA

PO/Polyol 250 KTA

MTP Retrofit 761 KTA

8,000

8,500

9,000

9,500

10,000

10,500

11,000

2015A 2016F 2017F 2018F 2019F 2020F

Strategic Investment

16

ARO2 Phenol2 HDI Thailand HDI France MLLDPE PO/Polyol MTP Retrofit

CAPEX 128.8 MUSD 345 MUSD 43 MUSD 18 MUSD 288.2 MUSD TBC TBC

Additional PetChem* (per year)

PX 115 KTA BZ 35 KTA OX 20 KTA

PH 250 KTA AC 155 KTA

HDI Derivative 12 KTA

HDI Monomer 70 KTA

MLLDPE 400 KTA Hexene-1 34 KTA

PO 200 KTA Polyol

130 KTA

Ethylene 500 KTA Propylene 261 KTA

Period Q1’16 Q2’16 Q2’16 Q2’16 2018 2019 2020 EBITDA Uplift/Year** 24 MUSD 63 MUSD 9 MUSD 24 MUSD 59 MUSD

• 100% stake of additional capacity

** Estimate EBITDA uplift with 100% stake at mid cycle price

8,948 KTA

10,677 KTA

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

Thank You

17

1 Thitipong Jurapornsiridee VP-Corporate Finance & IR Thitipong.j@pttgcgroup.com +662-265-85742 Jittasak Soonthornpan IR Manager Jittasak.s@pttgcgroup.com +662-265-81723 Prang Chudasring IR Analyst Prang.c@pttgcgroup.com +662-265-83274 Supika Charudhanes IR Analyst Supika.c@pttgcgroup.com +662-265-85335 Nattchanon Chawinsittangkul IR Analyst Nattchanon.c@pttgcgroup.com +662-265-83646 Chutima Jarikasem IR Coordinator Chutima.j@pttgcgroup.com +662-140-8713

mailto:IR@pttgcgroup.com

Slide Number 1DISCLAIMER AgendaAgenda2015 HighlightBusiness Environment &� Operations RecapSlide Number 7Slide Number 8Overview of Business Unit’s PerformanceFY2015 Income Statements Consolidated2016 OutlookAgendaMap Ta Phut Retrofit �& Synergies through PTT group restructuringPO/Polyols Project UpdatesOpportunity in New GeographiesStrategic InvestmentSlide Number 17