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Petkim Petrochemical Holding Corp. Presentation to Investors November 17, 2009 İstanbul
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Page 1: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

1

Petkim Petrochemical Holding Corp.

Presentation to Investors

November 17, 2009İstanbul

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Investment Highlights

Growth Plan & Strategy

Company Overview

Key Financials

General Overview of Turkey

Economy & Petrochemical Industry

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Economy & Petrochemical Industry

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World Economy & Petrochemical Industry

SLIGHT RECOVERY IS OBSERVED BEGINNING FROM THE SECOND HALF OF 2009. POSITIVE GROWTH IS EXPECTED IN 2010.

DUE TO THE CRISIS GROWTH RATESDECELERATED IN ALMOST EVERY REGION OF THE WORLD.

WORLD PETROCHEMICAL PRODUCTION WAS REDUCED TO THE LEVELS OF 15-20 YEARS EARLIER

Daily QNAF-C-NWE, QBRT- 05/09/2007 - 21/08/2009 (GMT)

Line, QNAF-C-NWE, Last Quote(Last)31/07/2009, 598Line, QBRT-, Last Quote(Last)31/07/2009, 529.78

PriceUSDT

.12

2003004005006007008009001,0001,100

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32007 2008 2009

DUE TO THE SEVERE GLOBAL RECESSION OIL AND NAPHTHA PRICES SHARPLY DECLINED IN LINE WITH THE DEMAND CONTRACTION

GDP GROWTH %

THE WORLD PETROCHEMICAL SECTORCAPACITY UTILIZATION RATES ABRUPTLY DECLINED TO THE LEVELS OF 65-70%

THE MOST DRAMATIC DECREASE WAS OBSERVED IN THE POLYMER PRODUCTION IN EU COUNTRIES

%

CEFICCEFIC

CMAI

Nexant Platts

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World Economy-Signs of Recovery…

Source: IMF, World Economic Outlook 2009, * Forecasts from the latest Reuters crude oil poll of 32 industry analysis

POSITIVE DEVELOPMENTS NEGATIVE DEVELOPMENTS

• The most severe recession since 1929 • Ongoing concerns regarding unemployment and

consumer spending• High inventories in automotive and construction

sectors• Inflation to become a major problem • Relatively tight credit conditions, highly

leveraged financial statements

• Increasing energy prices

• Contraction in export markets

• Global growth rate expected to resume its normal trend after 2010, developed economies are getting out of recession

• Adoption of stimulus packages for the restoration of economic growth

• Stabilizing bussiness conditions• Relatively strong growth in China, India and Emerging

Markets• Measures taken against rising unemployment rates• Reduced investment costs; lowest levels of interest rates• Resilient services sectors• Improvement in consumer’s sentiment

GDP Growth, % Change 2007 2008 2009 2010

World Output 5,2 3,0 -1,1 3,1ABD 2,1 0,4 -2,7 1,5Euro Zone 2,7 0,7 -4,2 0,3Japan 2,3 -0,7 -5,4 1,7Newly Industrialized Asian Economies 5,7 1,5 -2,4 3,6Emerging and Developing Economies 8,3 6,0 1,7 5,1

Brent Crude Oil, $/barrel* 72,66 98,52 59,86 72,82WTI Crude Oil, $/barrel* 72,36 99,75 60,06 74,00

Projections

Page 6: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Market Conditions

Capacity adjustments, plant shutdowns and flexible workmodels are being implemented in global petrochemicalindustry.

Crude oil prices surged to USD 147 per barrel in June.

Naphta prices increased for the six consecutive quartersand reached 1,150 $/ton in mid-June.

Rising energy prices had negative impact on productioncosts and profit margins.

Oil and naphtha prices tumbled down to five year lows at the second half of the year.

Producers suffered from the erosion of margins, profitabilities collapsed.

Extremely weak demand forced companies to reduceoperating rates and temporarily shut down plants.

Crude oil prices after falling to $32 per barrel in Januaryresumed their upwards surge in February and reached $75 in the third quarter of 2009.

Following the rally in crude oil prices naphtha pricessignificantly increased from $200-250 in February to $600-$650 levels in third quarter 2009. Feedstock costs are stillrising.

ICIS Petrochemical index increased from 176 in January2009 to 247 in September 2009, petrochemical productprices somewhat strengthened.

Sectoral profitabilities improved in the third quarter after thefirst half of the year had been one of the hardest periodssince the early 1990s.

2008 Sept 2009

Demand for petrochemicals steadily increased in the thirdquarter as developed countries are expected to emerge fromrecession in the second half.

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General Overview of Turkey

Page 8: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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General Overview of Turkey

Source: Investment Support and Promotion Agency

Page 9: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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General Overview of Turkey

Source: Investment Support and Promotion Agency

Page 10: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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BTC & BTE: A Major Role in Transportation of Oil and Natural Gas

PETKİM

CEYHAN

TBILISI

BAKUERZURUM

BTE

BTC

With a 50 million tons/year capacity, nearly 1768 km long, Baku-Tbilisi-Ceyhan oil pipeline transfers Caspianoil to world markets.

With a 30 billion cubic metersnatural gas throughput capacity, 933 km long of Baku-Tbilisi-Erzurum (BTE) pipeline transfersAzerbaijani gas from the ShahDeniz-I field to Turkey via Georgia

Minimized transportation costsDecreased financial costs due to shorterdeliverySupply security and price stability

Page 11: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Company Overview

Page 12: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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PETKIM’s Landscape

Page 13: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Company Overview• Established in 1965/Second complex commissioned in 1985• The sole petrochemical producer in Turkey• 25% domestic market share (2008) well positioned assets

in an ever growing market• USD 930 mn net sales (30Sep09)• USD 88 mn EBITDA (30Sep09)

• 15 main plants, 8 auxiliary units• Located in Aliağa near Izmir• Sits on a land of 19 mn sqm• Harbour, water dam, power generation unit (220 MW)• Adjacent to Tüpraş Aliağa Refinery

PETKİM

FACILITIES

MAIN FEEDSTOCKPRODUCTS

PRODUCTION

• Naphtha, LPG, C4, Condensate• Main product goups: olefins, polyolefins, vinyl

chain, aromatics and other basic chemicals

• 2.9 mn. tons of gross production realized in 2008• 3.2 mn. tons of gross production planned in 2009

Page 14: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Petkim’s Ownership Structure

Share Information (30 September 2009)

Stock Price Performance

Ownership Profile

Privatization process was completed in May 2008. SOCAR&Turcas Consortium

acquired 51% stake in Petkim at an amount of USD 2.04 bn.

Closing Price (TRY/Share) 7,50Market Cap (mn TRY) 1.536Market Cap (mn $) 1.036

Free Float (%) 38,7Source: Reuters

Source: Reuters

PA10,3%

Free Float38,7%

SOCAR&Turcas Petrochemical

Company51,0%

Relative Performance

405060708090

100110120130

May-08

Jun-0

8Ju

l-08

Aug-08

Oct-08

Nov-08

Dec-08

Jan-0

9Fe

b-09Mar-

09Apr-0

9May

-09Ju

n-09Ju

l-09

Aug-09

Sep-0

9Oct-

09Nov-0

9

ISE 100 PETKIM

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Petkim: The Strong & Tangible Symbol of Economical & Strategical Partnership

TURCAS is the first privately-ownedpetroleum company in Turkey focusingon distrubution of oil products andenergy investments through itsinternational strategical partnerships

SOCAR, with large-scale investments in Azerbaijan is one of the world’s oldestpetroleum companies. SOCAR is a shareholder and major supplier of the 50 million ton capacity BTC crude oilpipeline and the BTE natural gaspipeline, which transports 6,6 billioncubic meters of natural gas to Turkey

PETKİMA BRIDGE LINKING AEGEAN TO CASPIAN

Page 16: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Products and CapacityPETKIM

ALIAGA COMPLEXSTART-UP 1985

TOTALCapacity 1,916,000 ton/yr

Other Products1Capacity 954,000 ton/yr

Fiber Raw MaterialsCapacity 249,000 ton/yr

ThermoplasticsCapacity 713,000 ton/yr

1 Ethylene (520,000), VCM (152,000), PA (34,000), Chlorine (100,000), Benzene (134,000), MB (10,000), Plastic Products (4,000)

ETHYLENE 520 PROPYLENE 240C4 140 PY-GAS 390AROMATICS 346

BENZENE 160P-X 136O-X 50

CHLORINE 100VCM 152PVC 150LDPE 334 HDPE 96PP 144 MEG 89ACN 90PTA 70PA 34Power (MW) 226

Product Capacities(thousand tons)

PLANT CAPACITIES

Page 17: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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PVC10% PY-GAS

3%

LDPE23%

C54%

HDPE7%PP

10%

MEG2%

PA2%

ACN7%

PTA4%

Others6%

P-X6%

Caustic6%

Benzene10%

Petkim: Production & SalesMarketable Production (thousand tons)

Breakdown of Marketable Production September 2009

1.3831.102 1.047

369 369 386

1.409

0

200

400

600

800

1000

1200

1400

1600

2007 2008 Sept08 Sept09 Q3 08 Q2 09 Q3 09

Net Sales ( Million USD)

Breakdown of Sales Revenues September 2009

1.674 1.7951553

930

377330534

0200400600800

1.0001.2001.4001.6001.8002.000

2007 2008 Sept 08 Sept 09 Q3 08 Q2 09 Q3 09

PVC11% PY-GAS

2%

LDPE27%

C53%HDPE

9%PP11%

MEG2%

PA2%

PTA4%

P - X6%

ACN8%

Others6%

Caustic2%

Benzene7%

Page 18: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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USA14%

Others2%

Mid-East, Africa26%

Asia-Far East14% EU

Countries44%

Petkim: ExportBreakdown of Export Revenues by Product Type Sept 2009

Breakdown of Exports by Region September 2009

Export Revenues by Years (Million USD)

182

410358

523443

228147

84 99

217

0

100

200

300

400

500

600

2004 2005 2006 2007 2008 Sept08 Sept09 Q3 08 Q2 09 Q3 09

Benzen28%

PP4%

PVC4%

PTA8%

P-X10%

C411%

Py-Gas7%

Others9%

HDPE2%

LDPE15%

Caustic2%

• Petkim products are exported to nearly 60 different countries

• Benzene, C4, LDPE, Py-Gas and P-X are the mainexport products.

•The third exporter in chemical industry in Turkey in 2008.

Page 19: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

19

Petkim: Product Prices & Cost Breakdown

Labour6,6%

Energy12,3%

Others7,5%

Raw Materials

73,6%

Petkim Thermoplastics and Naphtha Price Changes

Global Integrated Chain EBITRaw Material and Product Prices*

128

88

0

35 34

-2

37

-101030507090

110130150

2007 2008 Sep08 Sep09 Q3 08 Q2 09 Q3 09

Cost Breakdown*

0

250

500

750

1.000

1.250

1.500

LDPE HDPE PP MEG PVC

Naphtha Cost Product Prices

Index (January 2007=100)

Petkim EBITDA Performance (Million USD)

* As of Sept 2009 Kaynak: CMAI

50

100

150

200

Oca.07

Mar.07

May.07

Tem.07

Eyl.07

Kas.07

Oca.08

Mar.08

May.08

Tem.08

Eyl.08

Kas.08

Oca.09

Mar.09

May.09

Tem.09

Eyl.09

TERMOPLASTİKLER H.NAFTA

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Petkim: Labor Productivity

Per Capita Marketable Production and Efficiency

Production per capita has increased from 457 tons

in 2008 to 581 tons in Sept 2009

Improvement in productivity and efficiency with capacity increases andreduced number of employees

Ongoing restructuring at organizational level:

Performance Management System

Simplified hierarchical organization

Outsourcing of services other than mainactivities (maintenance support andlogistics)

Plant maintenance, power generation, harbour management are currently

managed in-house.

0

100

200

300

400

500

600

2001 2002 2003 2004 2005 2006 2007 2008 Sept09

0

1000

2000

3000

4000

5000

6000

7000Net Sales Per Capita (Left Axis)

Marketable Production Per Capita (Left Axis)

Employees (Right Axis)

Page 21: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Key Financials

Page 22: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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2007 2008 30Sep08 30Sep09 3Q 08 2Q 09 3Q 09

Net Sales 1.671 1.795 1.553 930 534 330 377

Cost of Goods Sold (-) (1.514) (1.822) (1.550) (865) (545) (307) (358)

Gross Profit (Loss) 157 (27) 3 65 (11) 23 19

Gross Profit (Loss) Margin 9,4% (1,5%) 0,2% 7,0% -2,0% 6,9% 5,1%

Operating Expenses (-) (74) (72) (45) (29) (17) (13) (9)

Other Operating Income/(Expenses),net

(20) (3) 2 2 (0) 2 1

Operating Profit/(Loss) 63 (102) (40) 38 (28) 12 11

Financial Income/(Expenses), Net (11) (20) (3) 6 (2) 4 5

Profit/(Loss) Before Taxation 52 (122) (43) 44 (31) 16 16

Deferred Tax (1) 5 0 (2) 1 2 1

Net Profit/(Loss) for the Period 51 (117) (43) 41 (29) 18 16

EBITDA 128 (4) 37 88 0 35 34

EBITDA Margin 7,7% (0,2%) 2,4% 9,5% 0,1% 10,5% 9,0%

Income Statement (Million USD) (IFRS )

Financials

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76 6844

1943 52

105

25

52

19 199

3922

020406080

100120

Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09Cash Bank Debt

Balance Sheet (Million USD) (IFRS)

Financials

Receivables, Inventories and Payables (Million USD)

31/12/2008 30/06/2009

149

58

115

293

19

1.123

19

11

52

134

194

89

60

897

1.123

166

16

396

1.198

9

161

50

220

65

913

1.198

Cash&Cash Equivalents

Trade Receivables

Inventories

Other Current Assets

Current Assets

Non-Current Assets

TOTAL ASSETS

Financial Liabilities

Other Payables

Trade Payables

Short-Term Liabilities

Long-Term Liabilities

Shareholders’ Equity

TOTAL LIABILITIES

830 802

-300

-200

-100

0

100

200

300

400

Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09

Trade Receivables Inventories Trade Payables

30/09/2009

148

227

12

492

1.312

39

198

50

287

66

959

820

1.312

105

Cash&Bank Debt (Million USD)

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FOREIGN

CURRENCY

LONG TERM LONG TERM NATIONAL

May, 2009 BB- (negative) BB- (negative) AA- (tur) (negative)

September, 2008 BB- (stable) BB- (stable) AA- (tur) (stable)

January, 2008 BB (stable) BB (stable) AA (tur) (stable)

June, 2007 BB (stable) BB (stable) AA (tur) (stable)

April, 2007 BB (stable) BB (stable) AA- (tur) (stable)

February, 2006 BB- (stable) BB (stable) AA- (tur) (stable)

February, 2005 BB- (stable) BB (stable) A+ (tur) (stable)

DATE

LOCAL CURRENCY

Petkim’s Today

FITCH RATINGS

While many petrochemical companies’ credit ratings were downgradedall around the world, Fitchratings affirmed Petkim’s rating with BB-

and changed its outlook to negative due to Fitch’s anticipationof economic slump weighing on global petrochemical sector.

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Investment Highlights

Page 26: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Investment Highlights

PETKİM

Dominant producer25% market share

Market Size USD 6-7 billion

1998-2008 CAGRThermoplastics demand 8%

GDP 4%

Growth Potential in the Domestic Market

-20,0

-10,0

0,0

10,0

20,0

30,0

40,0

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Growth in Plastics Demand GDP Growth

Page 27: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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TURKEYAn attractive

market

0

1000

2000

3000

4000

5000

6000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2015E

ThermoplasticsFiber RawRubber Raw

U.S.A 93 90 75W.Europe 75 78 69Turkey 40 45 43Republic of China 20 30 28World 24 25 24Brazil 22 23 25India 5 6 5

Petrochemicals Domestic Demand (tons)

Kg/capita 2006 2007 2008

Plastics Consumption per Capita

1998-2008 CAGRThermoplastics 8%Fiber Raw Mat. 3%Rubber Raw Mat. 8%

Large market size suitable for optimum

scale plants

New RefineryProjects in Turkey

“Integration Synergy”

One of thefastest growing

markets

Investment Highlights

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New Incentive Package

• Incentive package was announced by the government in June 2009

• The following related sectors are within the scope of the package:- Basic chemicals >TRY 1 bn- Other chemicals >TRY 300 mn- Refinery >TRY 1 bn- Port and port services >TRY 250 mn- Pipeline transportation

• Incentives include;- Corporate tax reductions (from 20% to 10%)- Social security premium waivers for two years- VAT & customs tax exemption

Page 29: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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• Hydrocarbon rich owner (SOCAR)

• Experienced local owner in petroleum market (Turcas)

• Vertical integration possibility to increase competitive power of Petkim with refinery investment

Feedstock Reliability

Investment Highlights• Excellent location

and logistics• Power and steam

generation• On the shore • Next to the refinery• Existing infrastructure for

capacity expansion

A “supersite”

• Naphtha-LPG based fullyintegrated production resultsin a more diversified product portfolio

• Well maintained assets• 10-year average capacity

utilization rate 93% • Energy saving

Production base

• Completed capacityexpansion, debottleneckingand modernization at aroundUSD 500 million, in 2005

• Ongoing capacity creepinvestments

Capacity increase

• Business TransformationProgramme

• ERP implementation• EFQM Total Quality

Management• Performance Management• Suggestion and RewardSystem

• Operational excellence• Accelerated restructuring

Restructuring

• One of the fastest growing markets

• One of the biggest importers of petrochemicals

• Low levels of self-sufficiency in domesticproduction

Turkish Market

Page 30: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Growth Plan & Strategy

Page 31: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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GROWTH PLAN

UPSTREAM

Secure andreliable feedstock

Refinery

(Socar-Turcas)

DOWNSTREAM

• wide product range

• specialty chemicals with high value

added

ENERGY PRODUCTION

LOGISTICS

&

TRADE

Growth Plan and Strategy

Page 32: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Growth Plan and Strategy

GROWTH PLAN

Short Term Growth Plans

Mid to Long Term Growth Plans• Capacity expansion/ debottlenecking• Business Transformation Program• Feedstock flexibility• Energy saving/cost reduction• Logistics• Sales and marketing• ERP Project• Trading activities

• Upstream investments(SOCAR-Turcas)• Downstream investments• Energy –wind turbine• Logistics (harbour, railway)

Petkim’s main strategy is to increase market share and achieve high customer satisfaction

VISION 2018To become a regional

force in the petrochemical sector

40% of Market Share in 2018

Page 33: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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Feedstock Flexibility Energy Logistics

TradingSales&Marketing

Business Transformation

Capacity Increase

• Cut of excise tax on LPG

• Increasing LPG utilization in feed slate of cracker

• Utilization of Fluid CatalyticCracking (FCC) and C4 stream

Setting up an advanced “steamcracker” model for the utilization of different feedstocks and the factoryoptimization

• Energy saving program

• Opportunity for importing NG from Azerbaijan

• Feasibility study for 47,7 MW power generation from wind

• Fuel flexibility in powergeneration

• New distribution centers

• Increased transportation by rail

• Increased sales delivered to customers

• Harbour expansion studies for container and RORO transportation

• Capability for storage facilitiesleasing

• Meeting total needs of customers

• Product trading that will be conducted from Aliaga and also from new logistic centers

• New financial instruments topromote sales

Capacity increase by:

• Ethylene and thermoplasticsrevamping

• Debottlenecking andmodernization

• Maximizing asset utllitization

Short Term Growth Plans

Reviewing the current performance

Assessing the potentialimprovement areas in organization, maintenance, energy, HSE andoperations

• Improving IT infrastructure with ERP and integrated ManufacturingExecution System (MES)

Page 34: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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GROWING WITH “UPSTREAM” INVESTMENTSREFINERY FOR FEEDSTOCK SUPPLY

Mid to Long Term Growth Plans

TO REACH 40% MARKET SHARE WITH “DOWNSTREAM” INVESTMENTS

Constructed by SOCAR&Turcas• Allocation of 130 ha area for the refinery investment• 30% investment cost reduction due to existing infrastructure• Creation of synergy with the vertical integration• Feedstock security for Petkim• Additional revenue from services to the refinery

• Available infrastructure for potential investments• Double digit demand growth in the Turkish chemical sector• Increasing competitive advantage with sinergies created• New investment opportunities with local and foreign companies

Page 35: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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We welcome your questions, comments and suggestions. Our corporate headquarters office address is:

Petkim Petrochemical Holding Corp. PO. Box.12Aliağa, 35801 İzmir/ TURKEY

To contact us with respect to shareholding relations for individual and corporate investors, please call directly or send an e-mail to

Ms. Füsun UGANFinance ManagerTel :+90 232 616 1240 (Ext:4575)Direct :+90 232 616 6127E-mail :[email protected]

Mr. Şafak AYIŞIĞIAssistant General Manager (Finance)Tel :+90 232 616 1240 (Ext: 2150)Fax :+90 232 616 2297E-mail :[email protected]

Mr. Hayati ÖZTÜRKAssistant General Manager (Projects, Investments and Planning)Tel :+90 232 616 1240 (Ext:2040)Direct :+90 232 616 2297Fax :+90 232 616 8519E-mail :[email protected]

Also, please visit our web site at www.petkim.com.tr for further information and queries.

Investor Relations

Page 36: Petkim Petrochemical Holding Corp. Presentation to … Plan & Strategy Company Overview ... • Contraction in export markets ... • Stabilizing bussiness conditions

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DisclaimerDisclaimer

This presentation is confidential and does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Petkim Petrokimya Holdings A.Ş. (the “Company”) or any member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its group nor shall it or any part of it form the basis of or be relied on in connection with any contract, investment decision or commitment whatsoever. This presentation has been made to you solely for your information and background and is subject to amendment. This presentation (or any part of it) may not be reproduced or redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (excluding the relevant person’s professional advisers) or published in whole or in part for any purpose without the prior written consent of the Company.

This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the Company’s results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review or confirm analyst expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this presentation.

This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

The contents of this presentation have not been verified by any authority. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information contained herein and no reliance should be placed on it. None of the Company, their advisers, connected persons or any other person accepts any liability for any loss howsoever arising, directly or indirectly, from this presentation or its contents.

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PETKİM PETROKİMYA HOLDİNG A.Ş.GENERAL MANAGEMENTALİAĞA – İZMİR / TURKEY

Phone: +90-232-6161240 (20 lines)+90-232-6163240 (20 lines)

Fax: +90-232-6161248 +90-232-6161439 +90-232-6162490

Web site : www.petkim.com.tr , E-mail: [email protected]

PETKİM GUZELHISAR WATER DAM PETKİM PORT


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