18 November 2021

3Q21 & 9M21 Operating Results

2

Financial Performance

IRPC Strategy

Performance by Business

3Q21 & 9M21 Key Highlight

9M21 Key Highlight

3

13.92 $/bbl

MKT GIM Improved MKT GIM by

5.89 $/bbl from 9M20 driven by favorable products spread- both Petroleum and Petrochemical

Net Stock Gain Increased by 8.37 $/bbl vs 1.78 $/bbl Net Stock Loss in 9M20 as sharp increase in crude oil price

Refinery utilization rate

89%

Unchanged YoYLong term

financial cost

Dropped by 7% from last year after new debenture issuance to repay maturity debenture

6.59 $/bbl

~2.9%

GRM

5.80

PTF

6.88

Power & Utility

1.24

4

Projects UpdateUltra Clean Fuel (UCF) Project

2019 2020 2021 2022 2023COD, Jan 2024

2024

• Basic Design & FEED • EIA/BOI• Awarded EPC

Engineering & Construction

Implement Euro 5 in Thailand

FID,Q3

Timeline

INNOPOLYMED

Structure : 60% : 40%

Objective : Non-Woven Fabric

Location : IRPC Industrial Estate

Capacity : 2.1 KTA

CAPEX : 260 MB

Progress : 53% of Target (as of Oct 21)

COD : Dec 2021

Status : Ongoing Construction

Application

Surgical Gown

Mask e.g. Surgical, N95, N99

Othere.g. Filter/ Battery

Separator / Oil Absorbent

Established “Innopolymed”

AprMar

Approved byBOD

TimelineJan Dec

EPCIRPC and PTT signed MOU COD, Dec 2021

*EPCC: Engineering, Procurement, Construction and Commissioning

Coverall e.g. hair net, shoe cover Drape

PPE ,Isolation Gown

Objective : Upgrading HSGO to LSGO

to meet Euro5 specification

Capacity : 75 KBD (of DHT Unit)

CAPEX : 13,300 MB (~ 420 M$)

Progress : 17% of Target (as of Oct 21)

COD : Jan 2024

Status : Engineering Plan

Diesel hydro-treating Unit (DHT Unit)

Progress

5

Projects Update

ZnO for micronutrient

TimelineNano plant transformation

Success product launch legally(Comply with Fertilizer Act)

Objective

New S-curve business with social contribution

Nov 21Sep 21

Setting system &

Golive Plan

Received fertilizer

registration number

Aug 21

BOD Approval

Awards and Achievements in 3Q21

6

7

Financial Performance

IRPC Strategy

Performance by Business

3Q21 & 9M21 Key Highlight

8

IRPC Strategic FrameworkTo drive our passion, strategic imperatives need to be addressed

To Deliver with Innovations the Better Attributes and Solutions of Sustainable Material and Energy for the Future

Vision

Mission

Ways

StrategicEnabler

STRENGTHENING THE CORE STRIVING THE GROWTH SUSTAINING THE FUTURE

Sustainability Driver

To Shape Material and Energy in Harmony with Life

Core Uplift Adjacent Business Step Out Business

Business Diversification

Portfolio Plays

P&R Investment JV/ M&A/ New S-curve/ Start Up

Material Solution Energy Solution

Advanced Materials Health & Life Science Circular Business Future Energy Energy Storage

Mean

People & Core Value Financial & Funding Process & Digitalization Expert/ Advisor

Climate Change Management“LOW CARBON +”

Circular Economy“LIVING +”

Creating Social Value“RECOGNITION

9

Refining

Gasoline Management

COTC

Refining + BTX+ Propylene

Lube Business, Maximize and create more specialty product

Ways: Core Uplift

• Health Life and Science

• Advance Material

• Bio product

Medical & Hygiene

Electronic and appliance

Construction

Automotive

Others: Adv. Mat.

Portfolio Shift Geographic Shift

Synergy Among PTT Group

• More specialty to more regional

contribution

13%

18%20%

23%

32%

47%

52%

2019 2020 2021 2022 2023 2024 2025

PP Alloy & PP Composite

Escalating Specialty Portion 1H21 Specialty Portion~ 22%; above target 2%

Specialty

PPE & Medical Products

HVA: Food packaging e.g. Breathable Film PP

Bio-content polymer

Air filter

Spunbond & Meltblown

SUPER CARE

Pipe

Unit: % of total polymer sales volume

10

Go

Hyg

ien

eWays: AdjacentExtend growth with knowledge base

Resin Producer Compounder Converter Brand/ End Customer

Spunbond and Meltblown

Nitrile Butadiene Latex

Str

ive

To

wa

rds M

ed

ica

l &

Lif

e S

cie

nce

Go

Co

nve

rto

r

Strategic Fit with IRPC• Strategic direction• Capability & Knowledge

>

AutomotiveElectronic & Appliance

Advanced Material

Pe

ne

tra

te t

ow

ard

En

d

use

rs

Focus on Growth Sector and Specific Chain

Partnership Synergy • Technology and Market

ExistingPartnership

11

To New Frontier of Material and Energy Solution

Ways: Step Out Business

CVC

STARTUP

JV

M&A

12

Strategic Approach to New business

Mean

Portfolio Plays

P&R Investment JV/ M&A/ New S-curve/ Start Up

Core Uplift Adjacent Step Out

1 2 3

Key Success: Strategy, Partnerships, JVs or M&A

Strategic fit, selective investment (Scouting)

Go with PartnerAppropriate Size

Employee Commitment Customer / Partner Collaboration All Stakeholders Connectivity

Sand Box

VC/ StartupNew IRPC’s Investment Strategy

0

Self Capex investment

People & Core Value Financial & Funding Process & Digitalization Expert/ Advisor13

Transition To The New Horizons

The River of 2 Streams “Existing Stream (Core Uplift) to New Stream (Adjacent and Step Out)”

Financial Driver

EBITDA 30,000 MB

2021

Existing Stream

New Stream EBITDA 20,000 MB

2025 2030

Rolling

the

Wheel

14

3C: Climate Change, Circular and Creating Social Value

Sustainability Driver

SMART FARMING

Circular Model

“Convert Waste to economic and

environmental values through innovated product solution”

CCS/CCU

Floating Solar Recycle

SCOPE 1 SCOPE 2

Purchase Renewable

Energy

SCOPE 3

Operational Eco efficiency

%EII

GH

G r

ed

ucti

on

2012 2030 20XX

20% GHG reduction

“ Net Zero Emission”

15

Sustainability

2013 2014 2015 2016 2017 2018 2019 2020 2021

Listed as Member of DJSI emerging Market in Oil & Gas Industry since 2014

“The Balance of Economics, Social and EcologicalDevelopment”

15

16

To Shape Material and Energy in Harmony with Life

สรา้งสรรคน์วตักรรมการใชว้สัด ุและพลงังานเพือ่ชวีติทีล่งตวั

17

Financial Performance

IRPC Strategy

Performance by Business

3Q21 & 9M21 Key Highlight

1.13 2.75

1.78 0.54

2.37 1.81

4.41

3.22

1.60

3.43 2.94

7.16

5.00

2.14

5.80

3Q20 2Q21 3Q21 9M20 9M21

Refinery Lube Base

1.45 3.45 3.27

1.30 3.34

3.10

3.90 2.99

3.32

3.54 4.55

7.35 6.26

4.62

6.88

3Q20 2Q21 3Q21 9M20 9M21

Aromatics & Styrenics Olefins

QoQ 15%

30

31

32

33

34

18

Key Drivers

15

25

35

45

55

65

75

Brent Dubai

Crude Oil Price (average)

Gross Refining Margin (GRM)

Foreign Exchange (average)

Product to Feed Margin (PTF)

Unit: $/bbl Unit : THB/USD

Unit: $/bbl Unit: $/bbl

YoY 70%

QoQ 30%

YoY 38%

Dubai QoQ 7%

Dubai YoY 67%QoQ depreciated 5%

YoY depreciated 5%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21

Brent 50.26 29.20 43.00 44.23 60.90 68.83 73.47

Dubai 50.74 30.55 42.92 44.62 60.01 66.93 71.67 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21

31.45 32.12 31.49 30.78 30.43

4Q20 (End 30.21)

3Q21 (End 34.09)

2Q21 (End 32.22)

31.53

YoY 171% YoY 49%

33.09

52% 38%

10%

19

Financial Highlight: 3Q21 & 9M21 performance

37,671 56,858 62,088 111,658

167,334

QoQ 9%

YoY 65%Net Sales(net excise tax)

Dubai (Avg.)

Unit: $/bbl

Unit: MB

EBITDA

Unit: MB

5,843 8,895

6,190 911

23,868

QoQ 30%

Net Sales(net excise tax)

Market GIM ($/bbl)

42.9266.93 71.67

41.40 66.20

Crude run KBD

Acct. GIM ($/bbl)

Net Stock G/(L)($/bbl)

195 194 191 191 190

8.74 15.68 12.40 8.03 13.92

6.67 6.30 4.00 (1.78) 6.59

15.41 21.98 16.40 6.25 20.51

YoY 6%

3Q21 9M21

49%

39%

12%

67%

32%

1%

62,088 MB

6,190 MB

Petroleum Petrochemical Utilities and Others

EBITDA

YoY 38%

QoQ 53%Net IncomeUnit: MB

(411)

2,593 1,195

(3,323)

4,920 1,556 4,574

2,155

(7,760)

12,310

3Q20 2Q21 3Q21 9M20 9M21

Effective performance on the back of higher sales volume & strong inventory gain

Overview of Business Performance by Business

YoY 50%

YoY 2,520%

YoY 259%

66%

32%

2%

167,334 MB

23,868 MB

Operating NI

Net Income

YoY 391%

QoQ 54% YoY 248%

20

3Q21 & 9M21 Financial Performance

3Q20 2Q21 3Q21 9M20 9M21 3Q20 2Q21 3Q21 9M20 9M21

Net Sales 37,671 56,858 62,088 111,658 167,334 66.65 102.17 106.73 67.45 101.66

Market GIM 4,937 8,727 7,216 13,270 22,908 8.74 15.68 12.40 8.03 13.92

Stock Gain (Loss) 2,752 3,347 2,661 (5,099) 10,990 4.87 6.01 4.57 (3.08) 6.68

LCM - - - 162 - - - - 0.10 -

Oil Hedging Gain (Loss) 1,018 160 (333) 1,985 (153) 1.80 0.29 (0.57) 1.20 (0.09)

Net Stock Gain (Loss) 3,770 3,507 2,328 (2,952) 10,837 6.67 6.30 4.00 (1.78) 6.59

Accounting GIM 8,707 12,234 9,544 10,318 33,745 15.41 21.98 16.40 6.25 20.51

OPEX + Selling Exp. (3,445) (3,999) (3,826) (11,010) (11,445) (6.09) (7.19) (6.57) (6.65) (6.94)

Other Incomes 581 660 472 1,603 1,568 1.03 1.19 0.81 0.97 0.95

EBITDA 5,843 8,895 6,190 911 23,868 10.35 15.98 10.64 0.57 14.52

Depreciation (2,260) (2,209) (2,130) (6,711) (6,519) (4.00) (3.97) (3.66) (4.05) (3.96)

Cost of Finance (454) (428) (429) (1,375) (1,298) (0.80) (0.77) (0.74) (0.83) (0.79)

Financial Derivatives Gain (Loss) (13) (74) (225) (597) (409) (0.02) (0.13) (0.39) (0.36) (0.25)

FX Gain (Loss) (129) (100) (262) (276) (544) (0.23) (0.18) (0.45) (0.17) (0.33)

Unrealized Oil Hedging Gain (Loss) (1,134) (1,076) (685) (1,768) (1,213) (2.01) (1.93) (1.18) (1.07) (0.74)

Impairment Gain (Loss) (24) (9) - (63) (19) (0.04) (0.02) - (0.04) (0.01)

Investment Gain (Loss) 95 186 161 212 503 0.17 0.33 0.28 0.12 0.30

Other Expenses 1 (1) 1 2 (1) 0.00 (0.00) 0.00 - (0.00)

Income Tax (366) (600) (460) 1,919 (2,032) (0.65) (1.08) (0.79) 1.16 (1.23)

Net Profit 1,556 4,574 2,155 (7,760) 12,310 2.76 8.21 3.70 (4.68) 7.49

Unit: $/bblUnit: MB

21

Financial StatementUnit: MB

21

9M21 VS 9M20: Improving income supported by margin & projects

Net Income2Q21

MarginNet Stock

Gain

OPEX & Selling

Exp.

Tax Net Income3Q21

3Q21 VS 2Q21: Lessened margin & crude premium led to softer Operating Income

Non Operating

Item

Crude Premium

Operating Income 2Q21

Net Stock Gain

Non Operating

Item

OthersProjects Operating Income 3Q21

Net Income 9M20

MarginNet Stock

Loss

OPEX & Selling

Exp.Tax

Net Income 9M21

Non Operating

Item

Crude Premium

Operating Income 9M20

Net Stock Gain

Non Operating

ItemOthersProjects

Operating Income 9M21

Operating Income 248%

Net Income 259%

Operating Income 54%

Net Income 53%

(3,086)

0.73 0.61 0.60

3Q20 2Q21 3Q21

22

Financial Position

115,671 110,708

14,449 13,390

34,520 50,913

8,851

12,620

75,666 85,191

5,169 5,162

61,932 63,541

30,724

33,738

Debt ProfileStatements of Financial Position

Unit: MB

PP&E(incl.

investment properties and ROU)

Other Non-CA

CashOther CurrentLiabilities

LT Borrowing incl. current port.

Shareholders’Equity

Sep. 2021Dec. 2020

Other CA

Other Non-CurrentLiabilities

Financial Ratios

173,491 187,6328%

< 1.0x

Net IBD/Equity CA/CL

Cash Flow

Unit: MB

Beginning Cash1 Jan 2021

Ending Cash30 Sep 2021

Cash Flow from

Operation

Cash Flow from

Investment

Cash Flow from

Financing

2,398 6,946 7,373 7,502

10,594 1,359 1,359 1,359

679 1,999 1,998 1,998

17,976

2,398

10,304 10,730 10,859

29,250

4Q21 2022 2023 2024 >2024

THB Bond

USD Loan

THB Loan

Remark: Long-term debt as at 30 Sep 2021

Net Debt = 51,036 MB

Ex. Rate = 34.09 THB/USD

Interest Rate Currency

Float 55% THB 87%

Fixed 45% USD 13%

LT Loan (USD)7%

LT Loan (THB)55%

Bond (THB)38%

Leasing0.2%

Maturity of LT Debt

0.96

1.50 1.47

3Q20 2Q21 3Q21

Unit: MB

Secure liquidity thanks to robust financial performance

23

Financial Performance

IRPC Strategy

Performance by Business

3Q21 & 9M21 Key Highlight

27 42 64 20 23 7

(43)

43

(5)

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

536 524 432 567

1,011

1,485 1,356

496

1,283

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

24

Petroleum Spread

Lube Base SpreadRefinery Spread

ULG 95 - Dubai

6.72.6 4.4 4.1 7.1 9.9 11.8

4.69.6

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

$/bblQoQ 19%

11.05.7 4.2 3.7 4.7 5.3 5.4 7.0 5.1

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

$/bbl

Gas Oil - Dubai

QoQ 2%

(7.4)(1.6) (2.5) (0.6) (3.5) (5.8) (3.4) (3.8) (4.2)

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

$/bbl

HSFO - Dubai

QoQ 41%

500SN – FO 180 3.5%S Spread

370 372 340 473 777

1,037 895

360

903

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

QoQ 14%

$/TON

150 BS – FO 180 3.5%S Spread

QoQ 9% $/TON

Asphalt – FO 180 3.5%S Spread

QoQ 714% $/TON

YoY 109%

YoY 27%

YoY 11%

YoY 151%

YoY 159%

YoY 112%

3Q20 2Q21 3Q21 9M20 9M21

25,991 38,385 41,734 75,017 111,969

22,222 31,584 34,739 64,672 93,551

3,769 6,801 6,995 10,345 18,418

0.24 0.62 0.100.29 0.05 0.02

8.09 7.71 7.58

2.54 2.24 2.43

0.76 0.59 0.93 0.53 0.56 0.511.78 1.88 1.99

14.23 13.65 13.56

3Q20 2Q21 3Q21 . ' ''

Lube

LPG & Other

Naphtha &ReformateGasoline

Diesel & Jet Oil

LSFO 0.5%

HSFO

67% 65% 64% 70% 65%

21%13% 22% 19%

16%

5%4% 5% 5%

4%

6%18%

9% 7%15% Others

Domestic

Far East

Middle East

Petroleum

Refinery

Lube Base

91% 90% 89% 89% 89% % U-Rate

195 194 191 191 190

25

Petroleum Group3Q21: Crude oil price surge supported revenue improvement9M21: Rising petroleum spreads led to improved Mkt GRM

13.95 13.17 13.05 40.09 39.07 1.81 1.84 1.97

5.30 5.50

15.76 15.01 15.02

45.39 44.57

3Q20 2Q21 3Q21 9M20 9M21

Lube Base

Refinery

1.62 2.65 3.28 1.94 2.86

1.13 2.75

1.78 0.54

2.37 1.81

4.41

3.22

1.60

3.43 2.94

7.16

5.00

2.14

5.80

3Q20 2Q21 3Q21 9M20 9M21

Lube Base

Refinery

Crude Intake

GRMSales Volume & Revenue

Production

67% 66% 62% 70% 64%

33% 34% 38% 30% 36%

3Q20 2Q21 3Q21 9M20 9M21

Sweet Crude

Sour Crude

Premium over Dubai ($/bbl)

Crude Run (KBD)

YoY 5%

QoQ - unchanged

YoY 61%

QoQ 9% Revenue

Crude intake (Mbbl)

Unit : $/bbl

Unit : Mbbl

Unit : Mbbl

17.95 17.65 17.58

52.24 51.96

Sales Volume

Unit : MB

YoY 2%

QoQ 2%

YoY 5%

QoQ 1%

91% 90% 89%

84% 90% 95%

97% 119% 111%

89% 89%

83% 89%

90% 114%

% Utilization

Lube Base

RDCC

YoY 1%

YoY 2%

YoY 49%

YoY 70%

QoQ 30% YoY 171%

1.07 1.270.73 0.15

23.52 22.34

6.86 7.22

2.39 1.92 1.41 1.685.19 5.56

41.17 40.14

9M20 9M21

YoY 3%

347 370 386 479 430 403 254 368 362

180 215 171 260 363 305

306 189 325

527 585 557 739 793 708

560 557 687

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

Propylene-NP PP-Propylene

26

Petrochemical Spread

892 919 1,131 1,627 1,780 1,929

1,682

981

1,797

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

123 76

7 26 76

128 87 69

97

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

240 283 351 460 401 384 316 292 367 315 346 287 227 303 350

248 316 300

555 629 638 687 704 734 564 608 667

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

Ethylene-NP HDPE-Ethylene

HDPE-Ethylene –Naphtha Spread

Toluene – Naphtha Spread

ABS –Naphtha Spread

YoY 10%

YoY 41%

YoY 83%

$/TON

$/TON

$/TON

PP-Propylene –Naphtha Spread

YoY 23% $/TON

148 124

43 49 110

162 115 106 129

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

MX – Naphtha Spread

YoY 22% $/TON

678 649 625 975 1,021 1,092

840 651

984

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21

PS –Naphtha Spread

YoY 51% $/TON

Aromatics

Styrenics

Olefins

QoQ 23% QoQ 21%

QoQ 32% QoQ 29%

QoQ 13% QoQ 23%

1.453.45 3.27

1.303.34

3.10

3.90 2.99

3.32

3.544.55

7.356.26

4.62

6.88

3Q20 2Q21 3Q21 9M20 9M21

Olefins

Aromatics &Styrenics

101 103 109 293 318

3

12

86 64 83

250 234

75 54 70

194 165

185 214 217

587 644

449 435 478

1,336 1,361

3Q20 2Q21 3Q21 9M20 9M21

Polyolefin

Olefin

Polystyrenic

Styrenic

Aromatic

Petrochem

Olefins

27

Petrochemical Group3Q21 & 9M21: Improving revenue & firm Mkt PTF despite varying product spread trends

Production

PTF

Sales Volume and Revenue

178 170 207 522 557 235 260 276

770 806

413 430 483

1,292 1,363

3Q20 2Q21 3Q21 9M20 9M21

Olefins &Polyolefins

Aromatics &Styrenics

QoQ 12%

QoQ 11% Revenue

YoY 17%

YoY 81%

Unit : KMT

3Q21 : Petrochemical revenue was Bt 20 bn

QoQ : 11% increase from 12% vol. increase VS 1% price decrease

YoY : 81% increase from 64% price increase & 17% vol. increase

3Q21 Market PTF was $6.26/bbl

QoQ : $1.09/bbl decrease

YoY : $1.71/bbl increase

Unit : $/bbl

Unit : KMT Sales Volume

Unit : MB

YoY 6%

QoQ 42%

% Utilization

Polyolefins

Olefins

% Utilization

Polystyrenics

Styrenics

AromaticsAromaitcs & Styrenics

Crude intake (Mbbl)

QoQ 15%

YoY 38%

17.95 17.65 17.58

52.24 51.96

88% 95% 98%

81% 94% 96%

96% 96% 102%

100% 93% 105%

89% 89% 98%

113% 78% 101%

103% 105% 112%

3Q20 2Q21 3Q21

10,801 17,538 19,522

6,605 10,616 10,964

4,196 6,922 8,558

following product spread changes

91% 94%

86% 94%

98% 95%

96% 100%

88% 93%

107% 96%

99% 107%

YoY 2%YoY 5%

9M20 9M21

34,030 52,776

21,292 31,303

12,738 21,473

YoY 55%

YoY 49%

9M21 : Petrochemical revenue was Bt 53 bn

YoY : 55% increase from 50% price increase & 5% vol. increase

9M21 Market PTF was $6.88/bbl

YoY : $2.26/bbl increase as higher product spreads

522 536 489

1,532 1,533 301 256 286

904 794

56 144 57

175 262

879 936832

2,611 2,589

3Q20 2Q21 3Q21 9M20 9M21

Other Utilities

Steam

Electricity

28

Power and Utility

Utilization Rate

GIM

Revenue

QoQ 5%

YoY 11%

3Q21 U-Rate of Steam was 61%; 3% QoQ, unchanged YoY

3Q21 U-Rate of Electricity was 75%; 1% QoQ, 5% YoY

3Q21 : Power & Utility revenue was 832 MB; 5% QoQ, 11% YoY

QoQ & YoY : lower sales volume of electricity1.25

1.17 1.14 1.27 1.24

3Q20 2Q21 3Q21 9M20 9M21

Power & Utility

Unit : $/bbl

Unit : MB

70% 76% 75% 70% 75%

3Q20 2Q21 3Q21 9M20 9M21

Electricity

61% 64% 61% 64% 62%

3Q20 2Q21 3Q21 9M20 9M21

Steam

YoY 9%

QoQ 3%

YoY 5%

YoY - unchanged

QoQ 3%YoY 2%

YoY 5%

QoQ 1%

YoY 1%

YoY 2%

9M21 U-Rate of Steam was 62%; 2%

9M21 U-Rate of Electricity was 75%; 5%

9M21 : Power & Utility revenue was 2,589 MB

1.13 2.75 1.78 0.54 2.37

1.81

4.41 3.22

1.60

3.43 2.94

7.16 5.00

2.14

5.80

3Q20 2Q21 3Q21 9M20 9M21

Refinery Lube Base

1.45 3.45 3.27 1.30 3.34 3.10

3.90 2.99 3.32

3.54 4.55

7.35 6.26 4.62

6.88

Aromatics&Styrenics Olefins

29

Market & Accounting Gross Integrated Margin3Q21: Softer Mkt GIM owing to decreasing spreads & higher crude premium9M21: Improved A/C GIM thanks to the net stock gain and higher spreads

8.74 15.68 12.40 8.03 13.92 4.87

6.01 4.57

(2.98)

6.68 1.80 0.29

(0.57)

1.20

(0.09)

15.41 21.98

16.40 6.25

20.51

Market GIM Stk G/(L) & LCM Hedging

2.94 7.16 5.00 2.14 5.80 4.55 7.35

6.26 4.62

6.88 1.25 1.17

1.14 1.27

1.24 8.74

15.68 12.40

8.03 13.92

Petroleum Petrochem Power and Utility

1,663 3,987 2,910 3,526

9,545 2,566 4,090 3,646

7,647

11,325

708 650 660

2,097

2,038

4,937 8,727 7,216

13,270

22,908

3Q20 2Q21 3Q21 9M20 9M21

4,937 8,727 7,216 13,270

22,908 2,752 3,347 2,661

(4,937)

10,990

1,018 160

(333)

1,985

(153)

8,707 12,234 9,544

10,318

33,745

3Q20 2Q21 3Q21 9M20 9M21

Market GIM

Unit: $/bbl

Accounting GIM

Unit: $/bbl

Unit: MB

Market GIM by business

Unit: MB

YoY 42%

QoQ 21%

YoY 6%

QoQ 25%

YoY 46%

QoQ 17%

YoY 10%

QoQ 22%

Unit: $/bblPetrochemical

Petroleum

Accounting GIM

3Q21 Acct GIM was $16.40/bbl,

QoQ: ▼ $5.58/bbl due to $3.28/bbl lower Market GIM & $2.30/bbl lower net stock gain

YoY: ▲ $0.99/bbl due to $3.66/bbl higher Market GIM VS $2.67/bbl lower net stock gain

9M21 Acct GIM was $20.51/bbl,

YoY: ▲ $14.26/bbl due to $6.59/bbl net stock gain compared to net stock loss of $1.78/bbl in 9M20 and $5.89/bbl higher Market GIM

Market GIM

3Q21 Market GIM was $12.40/bbl,

QoQ: ▼ $3.28/bbl from lower spread & higher crude premium

YoY: ▲ $3.66/bbl from higher spread VS higher crude premium

9M21 Market GIM was $13.92/bbl,

YoY: ▲ $5.89/bbl from higher spread VS higher crude premium

YoY 73%

YoY 73%

YoY 228%

YoY 227%

30

Investor Relations Contact: ir@irpc.co.th

Tel. +662-765-7380, Fax. +662-765-7379

Presentation is available at

www.irpc.co.th

This presentation material has been prepared solely for informational purposes only. IRPC is furnishing it solely for use by prospective

investors / analysts in the proposed event. IRPC makes no representations or warranties as to the accuracy or completeness of such

information. By accepting this material each recipient agrees that IRPC shall not have any liability for any representations (express or

implied) contained in, or for any omissions from this presentation.

The information contained herein does not purport to be all-inclusive or to contain all of the Information that may be material to the recipient’s

decision. Each recipient of the information and data contained herein should perform its own independent investigation and analysis of the transaction and the creditworthiness of IRPC . Reference in this Disclaimer to this shall include references to the Appendices (if any) hereto.

Disclaimers

31

Appendix

Maintenance Shutdown Plan 2022 (updated November 21)

Plant

2022

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Pe

tro

leu

m

ADU1 31 31

ADU2 10 28 38

Hyvahl 59 59

RDCC 54 54

LUBE 36 36

Pe

tro

ch

em

ica

l

EBSM 32 32

HDPE 6 6 12

PP 2 12 14

ABS/SAN -

PS 30 30

32Remark: PP’s plan is based on PP capacity