Nomura Global Chemical Conference Rome, Italy March 22, 2012 - PowerPoint PPT Presentation

Nomura Global Chemical Conference Rome, Italy March 22, 2012

General Disclosure Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other information that is not historical information. When used in this presentation, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” or future or conditional verbs, such as “will,” “should,” “could” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management’s examination of historical operating trends and data, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this presentation. Such risks, uncertainties and other important factors include, among others: future global economic conditions, changes in raw material and energy prices, access to capital markets, industry production capacity and operating rates, the supply demand balance for our products and that of competing products, pricing pressures, technological developments, changes in government regulations, geopolitical events and other risk factors as discussed in our most recently filed Form 10-K and Forms 10-Q. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date made and are expressly qualified in their entirety by the cautionary statements included in this presentation. We undertake no obligation to update or revise forward-looking statements which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. This presentation contains financial measures that are not in accordance with generally accepted accounting principles in the U.S. ("GAAP"), including EBITDA, adjusted EBITDA, adjusted EBITDA from discontinued operations, normalized EBITDA, adjusted net income (loss), adjusted diluted income (loss) per share and net debt. The Company has provided reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures in the Appendix to this presentation. Supplemental Information This presentation includes selected supplemental information reporting our last-in, first-out (“LIFO”) inventory valuation reserve charges as part of Corporate and other, which was previously reported in our Performance Products segment. All segment information for prior periods has been restated to reflect this change. Our financial statements and tax returns are prepared with certain components of inventory stated on the LIFO method for inventory valuation, and supplemental information is not intended to replace the primary published financial statements which include these inventories on a LIFO basis. Please refer to the primary published financial statements in our most recently filed Form 10-K and Forms 10-Q. 1

Portfolio Composition Revenue (1) 2011 Adjusted EBITDA (1)(2) Pigments 14% Revenue Polyurethanes Textile Effects Pigments $11b 34% Polyurethanes 6% 36% 39% Advanced Materials Adjusted 12% Textile Effects EBITDA -5% Performance Advanced $1.2b Performance Products Materials Products 27% 8% 29% End Markets Adjusted EBITDA (2) Based on 2011 Revenues Source: Management estimates $ in millions $2,125 Agrochemicals 2% Construction Adhesives 1% 5% Aerospace 1% Insulation 9% Other 2% Intermediate Household Products 7% Chemicals $1,214 $1,144 11% Automotive & Marine 5% $951 $932 Apparel 4% $872 Industrial $822 Home Furnishings 3% Applications $668 Personal Care 3% $633 $529 11% Household Appliances 2% 13% 11% 11% Electronics 1% 10% 10% 10% 9% Footwear 1% 7% 7% Other 4% Energy & Fuels 14% Paints & Coatings 14% 2003(3)(4) 2004(4) 2005(4) 2006(4) 2007 2008 2009 2010 2011 Peak Consumer 30% Adj. EBITDA Adj. EBITDA Margin (1) Segment allocation is before Corporate and other unallocated items (2) Adjusted EBITDA excludes restructuring and plant closing costs and other unusual items (3) Pro forma as if Huntsman had acquired the remaining interest in HIH as of January 1, 2003 and its interest in Advanced Materials as of January 1, 2003 (4) Pro forma as if Huntsman had acquired its interest in Textile Effects as of January 1, 2003; excludes the C4 business sold in 2006 2

Geographically Diverse 2011 Revenue Distribution Europe U.S. & Canada 30% 33% Asia Pacific 21% Rest of World ~12,000 Employees 16% Fixed Costs Rest of by Currency World U.S. & 7% Other Canada 25% USD 18% EAME 35% 45% CHF 10% EUR APAC 30% 30% 3

Polyurethanes MDI Urethanes Revenue MDI Urethanes End Markets Based on 2011 Revenues Source: Management Estimates Based on 2011 Revenues Home Furnishings Rest of World 6% Footwear 11% US & Canada Household 3% 25% Appliances 9% Insulation 36% Asia Pacific Automotive 25% 15% Intermediate Chemicals 2% Adhesives, Industrial Europe Construction Coatings & Applications 9% Elastomers 39% 3% 17% Consumer 33% Precursor MDI Capacity 2011 Financial Highlights Source: Nexant 2012 $ in millions $950 Others Bayer 11% 22% Revenue $733 Dow 12% $4.4b $603 $571 $476 $409 $390 $382 $320 22% $264 Yantai Wanhua BASF 17% 16% Adjusted 15% 17% 20% 13% 12% 11% 9% 9% EBITDA Huntsman $476m 18% 2003 2004 2005 2006 2007 2008 2009 2010 2011 Peak Adjusted EBITDA Adj. EBITDA Margin 4

MDI Polyurethane Industry Dynamics Global Precursor MDI Cash Cost Curve by Region Suppliers Polyurethane Portfolio Asia Americas Europe 1.4 1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 Cost Index 1.1 1.1 1.1 1.0 1.0 1.0 0.9 0.9 0.9 0.8 0.8 0.8 0.7 0.7 0.7 0.6 0.6 0.6 0.5 0.5 0.5 0 0 1,000 2,000 0 1,000 2,000 1,000 Huntsman MDI Competitor MDI PO TDI Total Nameplate Capacity (‘000 tes) Source: Nexant 2012 Source: Management estimates 2011, assuming plants running at nameplate capacity Global MDI Industry Growth Global MDI Industry Growth Source: Nexant 4500 Asia 8.3% World CAGR (2011 – 2018) 2011 – 2018 4000 Global MDI Demand ('000 Tes) MDI CAGR 8.3% 3500 Europe 3000 2500 6.8% World CAGR 1990 – 2011 (1990 – 2011) MDI CAGR 6.8% 2000 Americas 1500 1000 500 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: Nexant 2012 5

Polyurethanes Growth MDI Lbs Per Unit of U.S. Housing Starts European Legislation Driving Energy Efficiency 2.5 500 US Housing Starts Lbs MDI / Unit US Housting Starts (million units) 2.0 400 Lbs MDI Per Unit 1.5 300 1.0 200 0.5 100 0.0 0 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Source: Management Estimates HUN USA SPF Revenue Growth Premium Automotive Market ( � 50% 2010-15) >40% CAGR ( 2008-2011) 2008 2009 2010 2011 6

MDI Capacity: View to 2015 Announced Incremental MDI Industry MDI Utilization (%) Capacities Through 2015 Low to mid 90s • Huntsman Caojing +240 ktes • Bayer Caojing +150 ktes • Yantai Bajiao +400 ktes net • Yantai Ningbo +600 ktes • BASF Chongqing +400 ktes Mid to high 80s ► Implied capacity growth of 6%-7% pa ► MDI demand growth forecast at +8% ► Plant utilization expected to rise into low to mid 90s by 2014-2015 Source: Management Estimates 7 Polyurethanes

Performance Products End Markets Revenue Based on 2011 Revenues Source: Management Estimates Based on 2011 Revenues Rest of World Personal Care 9% 9% Industrial US & Canada Household Applications Asia Pacific 49% Products 25% 13% 22% Intermediate Other Chemicals 6% 9% Paints & Coatings Agrochemicals 2% 8% Construction Europe Energy 2% Fuels & Lubricants 6% 29% Polymers 6% 5% Consumer 31% Global Market Share 2011 Financial Highlights $ in millions Market $450 Product Peer Share $374 $367 Revenue Polyetheramines 85% BASF, Arch $3.3b $275 Carbonates 65% BASF $246 $214 $209 Morpholine/DGA 50% BASF $193 $189 $157 14% Specialty Amines/ 30% BASF, Dow, Air Products, 12% 11% Adjusted 10% 10% 10% Catalysts Taminco, Ineos 9% 9% 9% EBITDA Ethyleneamines 30% BASF, Dow, Tosoh, Delamine $374m Maleic Anhydride 45% Lanxess, Flint Hills, Marathon, 2003 2004 2005 2006 2007 2008 2009 2010 2011 Peak Lonza, DSM Adjusted EBITDA Adj. EBITDA Margin 8