Completing the Integrated Polyester Chain 10 January 2014 Feedstock Business

Target Value Structure Capturing Value Chain through Integration Resilient and Sustainable profitable growth Target Value Structure 2014 2018 Volume KT 2,593 5,223 Revenue $M 2,739 5,624 Value Drivers Entering upstream: Aromatics Project Building Smart Assets: Scale, Close to Feedstock, Markets Retrofit existing Assets: Cost reduction & enhanced productivity Assured Markets: Captive Feed to IVL Polyester D/S Management Bandwidth: Knowledgeable & Experienced Team Current Value Structure 2008 2013 Volume KT 665 2,146 Revenue $M 442 2,424 2014 - 2018

Capturing full value chain integration Milestones in moving Upstream 2018 6275 KT Capturing full value chain integration Abu Dhabi PX 1400 KT PTA “Project Manhattan” 1200 KT Abu Dhabi BZ 500 KT PX 1400 KT BZ 500 KT Netherland PTA Expansion 250 KT 2009 1745 KT Indonesia PTA 500 KT EG 680 KT EG 130KT US EG 550 KT Thailand PTA 600 KT 770 KT PTA 3695 KT More than tripling feedstock capacity in 10 years Netherland PTA 375 KT 2012 2013 2015 2017-18

PET Recycle Resin (PCR) Strategic Upstream Investment Refinery (Naphtha) Aromatics (PX) plant PTA plant Polyester Fiber Crude Oil/ Natural Gas PET Recycle Resin (PCR) Polyester Polymer plant PET Resin Steam Cracker (Ethylene) MEG plant PET Film Energy & Upstream (Naphtha and Ethylene) Polyester Chain (PX, PTA, EG and Polyesters) Source: IVL Analysis

Resilient Margins – Polyester Value Chain Chain Spread 06-13 Avg: 1292/MT PX Spread 06-13 Avg: 470$/MT BZ Spread 06-13 Avg:240$/MT BZ Spread over Naphtha Source: Industry Publications PAL, IHS, PCI & IVL Analysis, Global spreads derived from simple avg. of US & EU del spreads and Asia spreads on CFR China basis. BZ spreads on FOB NEA basis IVL’s integration loop is in an advance state of capturing entire value chain to enhance margins IVL PTA targeted 3.9 MMTA capacity by 2018 warrants PX to the tune of 2.5MMTA Footprint in US EG to lead to many opportunities in Olefins integration & EG expansion Entry into BZ will open up new opportunities

IVL’s investment into Aromatics - A Better Cost Position New Aromatics Plant at Abu Dhabi Indorama Ventures Ltd and Abu Dhabi National Chemicals Co.(ChemaWEyaat) have signed a JV to develop the Tacaamol Aromatics Plant on Madeenat ChemaWEyaat Al Gharbia’s (MCAG) site in the Western Region of Abu Dhabi. Paraxylene - 1.4 MMTA Benzene - 0.5 MMTA Start up - 2018 Technology - UOP Virtual Integration with Refinery / Feedstock Attractive Feedstock Pricing Project Management Consultancy – Foster Wheeler Feed available from 2014 H2 ChemaWEyaat will hold 51% equity & Indorama 49% in the JV to be known as Abu Dhabi Chemicals Integration Co. LLC (Tacaamol).

Retrofits give fast payback - lower RM consumption and energy savings PTA - Cost Reduction through Retrofit Operational Excellence 72.50 US$ Mil. 28.13 US$ Mil./Y Payback: 2011-13 Capex – 0.9 years 2014-15 Capex – 2.6 years 11.01 US$ Mil./Y 9.83 US$ Mil. Capex (USD Mil.) Annual Saving (USD Mil.) Retrofits give fast payback - lower RM consumption and energy savings

IVL PTA Business Well positioned regionally with high degree of integration Flexible operations with 4 facilities located in Thailand, Indonesia and Netherlands Integrated PTA production with D/S: 70% captive consumption overall. RTD and Indonesia PTA fully captive and Thai has 60% captive / associate consumption. End product logistics cost savings, sharing of physical infrastructure, utility, storage facilities Strong asset portfolio with low cost position compared to regional peers Cost advantage obtained by scale, polyester and energy integration/co-location, operational excellence Secured, cost advantaged feedstock supply under strategic contracts Strong Buying position in Europe and SE Asia Co-location / proximity to feedstock (pipeline, barge) Highly experienced mgt team with track record of value creation

IVOG - EOEG Business Key Factors One of the largest EO EG facility in North America Diverse Product portfolio Advantage feedstock sourcing from natural gas/shale gas Strategic location in Celanese facility with sharing cost High EBITDA margin business Low operational risk Favorable industry dynamics

IVOG - Diverse product portfolio End-Use Products End Use Purified Ethylene Oxide (PEO) Surfactants Detergents Soaps & Shampoos Monoethylene Glycol (MEG) Polyester fibers Pet Resin Film resin Antifreeze & coolants Industrial application Diethylene Glycol (DEG) Solvent Lubricants Gas dehydration Triethylene Glycol (TEG) Industrial solvent Insecticides Pigments Alcohol Ethoxylates (AE’s) Shampoos Source: IHS, IVL Analysis

EO industry in North America : Extremely Tight EO Capacity /Production Tight EO market leads to tightness in EG industry Source: PCI, IVL Analysis

High PEO Margins expected in USA PEO Margins in USA 2012 to 2016f Enhance PEO margins due to shortage Source: PCI, IVL Analysis

IVOG – PEO & MEG Market Share in USA 2013- MEG market share by competitor 2013- PEO Producer merchant market share US MEG market short by 691KT in 2013. Total requirement is 2250kt. Demand shortfall supplied by Canada and Middle east Twelve major MEG buyers, seven polyester buyers, five antifreeze buyers Total PEO merchant market size in USA is 517 KT in 2013 IVOG is largest seller of PEO to US merchant buyers with 30% market share Source: IHS, IVL Analysis

Cheaper Ethylene in North America MEG Spreads Cheaper Ethylene in North America Global tightness High US MEG Spreads Source: IHS, IVL Analysis

EG – Global Industry Cost Curve Ethylene production cash cost @ $99 Brent/$3.7 U.S Gas No longer available 5% capacity based on dmo/mto & coal based unproven technologies 43% capacity based on Gas 52% capacity based on Naphtha World MEG Floor price to be set by MEG producers with integrated Naphtha economics Source: PCI, IVL Analysis

Footprint in US to lead to greater Olefins & EG opportunities Debottlenecking Expansion Downstream integration Upstream integration Scope Scale Key business growth drivers Set up / participate in crackers in N.A to leverage shale gas. “Make or Buy decision” for captive requirement Set up facility for PEO derivatives like Ethanolamine, Ethoxylates etc Set up new MEG plant of 750KT for captive use. IVL’s global captive requirement 2000 kt (in 2015f) Increase crude EO capacity by 100KT to balance PEO & EG production Source: IVL Analysis

Strategy – Feedstock Upstream Integration Being at all segments of value chain Competitive RM Buying Leverage volume, supply Chain Retrofit & DBN Existing Assets Taking advantage of integrated production at single location & making assets more competitive Focus on Untapped Potential Leveraging on Shale Gas, Mid-stream Cracker Investment, Aromatics Assured Markets Seizing Opportunity as less competitive & non-integrated players vanish away

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