-1- Thai Oil Public Company Limited Q4 & FY/2017 Opportunity Day Presentation 21 March 2018 Time : 13:00 - 14:00 hrs. Venue : Stock Exchange of Thailand, Building B, Room 603
-2- -2- Disclaimer The information contained in this presentation is intended solely for your personal reference. Please do not circulate this material. If you are not an intended recipient, you must not read, disclose, copy, retain, distribute or take any action in reliance upon it. Some statements made in this material are forward-looking with relevant assumptions, which are subject to uncertainties, which may cause the actual result/performance to be materially deviated from any future result/performance implied by such forward-looking statements. Please note that the company and management/staff are not capable to control and guarantee if these forward-looking statements will be accurately materialized, they are subject to various risks and uncertainties.
-3- -3- Corporate Vision, Mission and Values A LEADING FULLY INTEGRATED REFINING & PETROCHEMICAL VISION COMPANY IN ASIA PACIFIC • To be in top quartile on performance and return on investment • To create a high-performance organization that promotes teamwork, innovation and trust for sustainability MISSION • To emphasis good Corporate Governance and commit to Corporate Social Responsibility Professionalism Excellent Striving Vision Focus VALUES Ownership & Commitment Initiative Social Responsibility Integrity Teamwork & Collaboration
-4- -4- Corporate Governance Corporate Governance Policy Roles and Responsibilities The board of directors, management and all staff shall for Stakeholders commit to moral principles, equitable treatment to all stakeholders and perform their duties for the company’s interest • Truthfully report company’s with dedication, integrity, and transparency. situation and future trends to all Anti-Corruption Policy stakeholders equally on a timely manner. The Board, the management, and employees must not • Shall not exploit the confidential corrupt or accept corruption of all forms in any circumstances, covering the business of the Company in every country and in information for the benefit of every relevant agency. The Company defines guidelines, related parties or personal gains. operating measures, and roles and duties of responsible persons, • Shall not disclose any confidential as well as regularly monitoring and reviewing the information to external parties. implementation of the anti-corruption policy in compliance with changes in businesses, rules, regulations, and relevant laws. Whistle-Blowing Channels Chairman of the Board or cgcoordinate@thaioilgroup.com Chairman of the CG Committee or Should you discover any Chairman of the Audit Committee or +66-0-2797-2999 ext. 7440-7442 ethical wrongdoing that is CEO/President or Company Secretary not compliance to CG +66-0-2797-2973 Thai Oil Public Company Limited policies or any activity that 555/1 Energy Complex Building A could harm the Company’s 11F, Vibhavadi Rangsit Road, http://www.thaioilgroup.com interest, please inform: Chatuchak, Bangkok 10900
-5- -5- Our Achievement in Sustainable Development 5 th Consecutive Year as the Member of DJSI Emerging Markets 5 th Consecutive Year of leading positions: Oil & Gas Refining & Marketing
-6- -6- Presentation Agenda TOP GROUP BUSINESS OVERVIEW 2017 KEY FINANCIAL HIGHLIGHTS 2017 PERFORMANCE ANALYSIS 1H-18 MARKET OUTLOOK
-7- -7- TOP GROUP BUSINESS OVERVIEW
-8- -8- Thai Oil Group Business Structure PTT 26.0% 100.0% 100.0% 74.0% 100.0% 100.0% Thai Paraxylene Thai Lube Base Thaioil Power Thaioil Marine Thaioil Ethanol Thaioil (TOP) (TPX) (TLB) (TP) (TM) (TET) 50.0% Aromatics Capacity: Lube Base Oil Sells Electricity/Steam to • 5 Oil & Chemical Tankers Sapthip (SAP) Paraxylene Capacity : Group Capacity : 52,350 DWT Capacity : 527,000 tons/annum Cassava Based Ethanol Base Oil • Crude Tankers: 3VLCCs 275,000 barrels/day Small Power Producer Mixed Xylene Capacity : 200,000 lts/day 267,015 tons/annum Capacity: 881,050 DWT Program 52,000 tons/annum Bitumen BCP 14 crew & utility boats Others • 3-on-1 Combined Cycle Benzene 350,000 tons/annum 21.3% (120 DWT each) 21.3% 57.4% Electricity 118 MW 259,000 tons/annum TDAE • 2 Large vessels for crude, Ubon Bio Ethanol (UBE) Steam 216 tons/hour Total 838,000 tons/annum 67,520 tons/annum feedstock & product Cassava/Molasses Based Plant storage and transportation Capacity : 400,000 lts/day TOP SPP 75.0% Mitsui 25.0% services 100.0% 100.0% Capacity: 200,000 DWT 2 Small Power Producers LABIX Company Limited Thaioil Energy Services • Ship management services Total capacity: 239 MW (LABIX) (TES) Steam capacity 498 T/H PTT 40.4% LAB producer and distributor Proceeds the business on COD 2016 Capacity: 120 KTA COD: 2016 9.2 % Others 50.4% various professional of Thaioil & management services TP 29.7% 100.0% 100.0% PTT 22.6% Thappline (THAP) Thaioil Treasury Center (TTC) PTTGC 22.7% Multi-product Pipeline Global Power Synergy Increases financial efficiency Capacity:26,000 m.lts/y Thaioil Solvent Public Company Limited of Thaioil group Through TOP Solvent (TS) PTT Group 85.0% 15.0% Principal power plant of PTT Sarn Palung Social PTT 40.0% 80.5% 100.0% Total Equity Capacity Enterprise PTTGC 20.0% 20.0% 1,922 MW of electricity IRPC 20.0% Supports execution of social Solvent distribute Sak Chaisidhi Top Solvent 1,582 tons/hour of steam PTT Energy Solutions enterprise of PTT group in Thailand (SAKC) Vietnam 2,080 Cu.m./hour of Industrial (PTTES) PTT Group 80.0% 20.0% Solvent manufacturer water Solvent distribute in Provides engineering PTT Digital Solutions Capacity : 141,000 12,000 RT of Chilled water Vietnam technique consulting services (PTT Digital) tons/annum Net Profit Contribution 51% 25% 13% 11% (Avg. from 2006 – 2017)
-9- -9- Key Milestones: 56 Years, A Long Track Record of Success 1961 – 1997 2004 – 2011 Today Capacity expansion and initial stage of Listing, expansion and A leading integrated refining and business diversification diversification petrochemical group in Asia Pacific • 1961 1970 275 kbd refinery ( approximately 22% of 2004 • • • Incorporated Refining capacity Thailand’s total refining capacity) IPO and listed on the SET • • expanded to 65 kbpd Nelson index 9.8 1 Acquired remaining shares in Thai • 1964 Diversified business through 16 subsidiaries Paraxylene and Thai Lube Base • Commenced operation 1989 which became our wholly-owned • with distillation capacity Increased refining subsidiaries of 35 kbd capacity to • Simple refinery with 90 kbpd Nelson complexity Index ~ 4 1 2013-2014 • Established LABIX • Invested in power biz via GPSC & TOP SPP 1961 – 1964 • Completed Emission 2010 Improvement, HVU-2 • Established Thaioil Debottlenecking & CDU-3 Ethanol 1993 2007 Preheat Train project • • • Production expansion of We expanded our refining capacity to 190 kbd Increased refining capacity to 275 kbd 2015-2016 TDAE by 50,000 tons • Completed Projects: LABIX & per annum 1994 – 1997 2008 TOP SPP • • 2011 Increased total refining capacity to 220 kbd The first refinery in Thailand with diesel 2017 • • Manufactured diesel Initial investment in Thai Paraxylene (“TPX”) and Thai production to comply with the sulfur • 2017 Revenue 337,388 MB and ULG in compliance Lube Base (“TLB”) content requirements of Euro IV • 2017 Net profit 24,856 MB • IPT became the first IPP to enter into a PPA with EGAT 2 • with the sulfur and BZ Capacity expansion of Thai Paraxylene with • Completed lorry expansion aromatics content with 700 MW capacity ; separately, Thaioil Power (“TP”) total aromatics capacity of 900,000 tons project (10 to 15 mml/day) requirements of the constructed the power generation plant under the SPP with p.a. • Established Thaioil Treasury Euro IV 118 MW capacity • Invested in Solvents business in Thailand center (TTC) Acquired 1 st VLCC • and Vietnam Note 1. Based on our internal estimates using the methodology of the Nelson Complexity Index 2 . The Electricity Generating Authority of Thailand (“EGAT”) is the national grid
-10- -10- TOP Group Synergy & Strategic Role in PTT Group Value Chain Upstream Intermediate Downstream Solvent Pentane Diversifying to a broad Hexane Toluene range of downstream SOLVENTS The majority of Mixed-Xylene products to enjoy higher refined petroleum Paraxylene profit margins and products are sold Mixed-Xylene domestically to reduce earnings PTT Toluene volatility AROMATICS & LAB Benzene LAB REFINERY LPG PLATFORMATE REFINED Gasoline CRUDE IMPORT PETROLEUM LONG RESIDUE Jet/Kero Diesel Fuel Oil Lube Base Oil Slack Wax Extract LUBE BASE TDAE PTT is our Bitumen POWER TP & TOP SPP provides electricity principal domestic and steam to Thai Oil group and NATURAL GAS customer for sells its remaining power to the our lube base national grid products Thai Oil’s Businesses
-11- -11- 2017 KEY FINANCIAL HIGHLIGHTS
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