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
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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