Public Expose 2016 Presentation

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PT Chandra Asri Petrochemical Tbk

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1. Company Profile

2.

Operational & Financial Performance

3.

Project Updates

4.

Industry Outlook

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Co pa Profile

CAP

 The largest integrated producer of Olefins and Polyolefins in Indonesia.

 Producing plastic raw materials and chemicals used in a variety of everyday consumer products (packaging, pipes, jerry cans, automotive, electronics, shoes, etc.).

 Owns the only Naphtha Cracker, Styrene Monomer, and Butadiene plant in Indonesia.

 The largest producer of Propylene (470KTA) & Polypropylene (480KTA) in Indonesia.

 Sole producer of Ethylene (860KTA); and one of two Polyethylene producers (336KTA) in Indonesia.

 Strategic/adjacent plant location with customers in the industrial estate of Cilegon-Merak.

 Operates 3 Jetty with capacity of DWT 6K, 10K, and 80K within the plant complex to facilitate logistics.

 Majority Shareholders, Barito Pacific Grup* (65.2%) and SCG Chemicals (30.5%) as of May 2016.

Integrated Petrochemical Complex

Styrene Monomer Plant Butadiene Plant Naphtha Cracker Polypropylene Plant

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Integrated Business Operations

Integrated business operations from upstream to downstream resulting in higher efficiency, lower costs, and value-added .

New Generation Synthetic Rubber

Polypropylene Polyethylene

Styrene Monomer

Up

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Petro

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Ethylene Propylene Py-Gas Mixed C4

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Petro

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Oil

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CAP Products Future products by SRI

Crude Oil

Diesel Kerosene Gasoline

Refinery

Naphtha Cracker

Naphtha LPG

Raffinate - 1 Butadiene

Condensate

CAP Facility Legend:

1. Company Profile

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Integrated Business Operations (

co t d

)

Notes:

(1) LLDPE: Linear Low Density Polyethylene (2) HDPE: High Density Polyethylene

Homopolymer Random Copolymer Impact (Block) Copolymer Ethylene

Key Products Plant Main Process Key Markets

330 KTPA 860 KTPA 430 KTPA 100 KTPA Propylene 470 KTPA

Py-Gas

400 KTPA

Crude C4

315 KTPA

 Domestic  Exporr  Domestic  Domestic  Export  Export  Domestic  Export  Domestic Naphtha Cracker licensed by Lummus and

KBR. Polypropylene _ _{W.R. Grace}

 480 KTPA

Styrene Monomer  Licensed by

Mobil-Badger and Lummus

 340 KTPA

LLDPE(1)

HDPE(2)

Polyethylene  Licensed by

Univation

 336 KTPA

Naphtha

2,300 KTPA

Butadiene  BASF/Lummus

 100 KTPA

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Strategic Location

Adjace t a d i terli ked with custo er’s facilities k Ethyle e pipeli e .

Anyer

Cilegon Merak

Jetty New Toll Road CAP Pipeline Existing Road

Puloampel-Serang

Main Plant

 Main Plant Capacity (ktpa)

– Ethylene: 860

– Propylene: 470

– Py-Gas: 40 0

– Mixed C4: 315

– Polyethylene: 336

– Polypropylene: 480

 Butadiene Plant: 100 ktpa

 On-Site Power

Styrene Monomer Plant

Capacity 340 ktpa

Sriwie Dongjin

Lautan Otsuka Asahimas Polypet PET Polyprima PTA ARCO PPG

Amoco Mitsui

TITAN PE Mitsubishi Kasei PIPI PS and SBL Unggul Indah AB

Prointail

Statomer PVC Buana Sulfindo Santa Fe

Rhone Poulenc SBL Sulfindo Adiusaha NAOH, CL2

Golden Key ABS Multisidia

Risjad Brasali EPS, SAN Trans Bakrie Cont Carbon CB Indochlor

Sintetikajaya Showa Esterindo Sulfindo Adi. PVC

Polychem Redeco Cabot Siemens Hoechst KS Dow Chemical Air Liquide UAP

Existing customers with pipeline access

NSI Sulfindo Adi. EDC, VCM

Indonesia

Cilegon Main Plant

CAP s Petroche ical Co ple es

N

1. Company Profile

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Loyal & Broad Customer Base

Top Custo er s “ales Breakdow



Diversified clientele. Top 10 Customers

contribute 40% of revenues in 2015.



Key Customers are loyal customers who have

long term relationship.



Convenience for customers who are directly

linked with pipes integrated with CAP's

production facilities.



Strong marketing and distribution platform

with wide network serving ~300+ Customers.



Short delivery trend time resulting in pricing

premium to market reference prices.

Key Customers

40%

60%

Top 10 Customer's Sales

Others

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1.

Company Profile

2. Operational & Financial Performance

3.

Project Updates

4.

Industry Outlook

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Ethylene

Plan Utilization Rate

Polyethylene, Polypropylene, Styrene Monomer, Butadiene

 Decline of utilization in 2015 was due to shutdowns in the 4th quarter for Tie-in work of the Cracker Expansion project. In addition, within the 85-day shutdowns period were also conducted a Turnaround Maintenance (TAM).

 1st Quarter -2016, plant utilization showed an increase post Expansion completion in Dec-2015. Cracker plant has a new capacity of 860 KTA (up to 43%) and ramp up gradually to optimum capacity.

 Butadiene Plant operates since Sept-2013.

(dalam %)

94 ₉₃

80

89 95 99 ₉₂

89 95

74

69 72 76 79

47

76

2013 2014 2015 1Q-16

Polyethylene Polypropylene Styrene Monomer Butadiene

99

94

57

66

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Ethylene

Volume (KT)

Price & spread (US$/ton)

Propylene

Volume (KT)

109 139 19 51

1Q-15A 1Q-16

296

182

32 32

2014A 2015A

59 78

4 18

1Q-15A 1Q-16

447 479

931

552 1.378

1.031

2014A 2015A

375

550 574

376 949 926

1Q-15A 1Q-16

415 ₂₅₆

931

552 1.345

808

2014A 2015A

182 268

574

376 756

644

1Q-15 1Q-16

561

339

189

82

2014A 2015A

Volume and Price by products

Olefins

1. Company Profile

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Volume and Price by products

Polyolefins

Polypropylene

Volume (KT)

Polyethylene

Volume (KT)

477

444

471 ₄₄₉

2014A 2015A

118 124 ₁₀₅₁₁₀

1Q-15A 1Q-16

311

224 314

227

2014A 2015A

74 74 74 68

1Q-15A 1Q-16

739 697

931

552 1.670

1.249

2014A 2015A

694 642

574

376

1.268

1.018

Q1-15A Q1-16

711 807

931

552 1.642

1.359

2014A 2015A

712 825

574

376

1.286 _1.201

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Volume and Price by products

Styrene Monomer and Butadiene

79

47 82

46

2014A 2015A

Butadiene

Volume (KT)

Styrene Monomer(1)

Volume (KT)

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16 ₁₃ 19 17

1Q-15A 1Q-16

250 257 ₂₃₄ 230

2014A 2015A

52 50 60 62

1Q-15A 1Q-16

398 391

931

552 1.329

943

2014A 2015A

231 370

574 ₃₇₆ 805 ₇₄₆

Q1-15A Q1-16

326 373

1.280

721 1.605

1.094

2014A 2015A

238 390

733 567 971 957

Q1-15A Q1-16

1. Company Profile

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Financial Highlights: Financial Position FY-2015 and 1Q-2016

31-Dec-2014

U“$

31-Dec-2015

U“$

31-Mar-2016

U“$

Changes Yoy (%)

Changes Ytd (%)

Cash and cash equivalents 207,939 96,835 141,242 -53.4 45.9

Current Assets

(exclude Cash and cash equivalents)

458,495 319,799 339,572 -30.3 6.2

Non Current Assets 1,257,077 1,445,752 1,461,442 15.0 1.1

TOTAL ASSETS 1,923,511 1,862,386 1,942,256 -3.2 4.3

Current Liabilities 477,912 377,753 440,255 -21.0 16.5

Non Current Liabilities 579,737 597,787 579,753 3.1 -3.0

Equity 865,862 886,846 922,248 2.4 4.0

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Financial Highlights: Profit or Loss FY-2015 and 1Q-2016

FY-2014 U“$

FY-2015 U“$

Changes (%)

3M-2015 U“$

3M-2016 U“$

Changes (%)

Net Revenues 2,460,051 1,377,573 -44.0 357,933 358,895 0.3 Cost of Revenues 2,342,587 1,231,844 -47.4 341,186 296,396 -13.1 Gross Profit 117,464 145,729 24.1 16,747 62,499 273.2 Operating Profit (Loss) 50,187 79,222 57.9 (531) 45,894 8,742.9 Profit (Loss) For The Year 18,439 26,256 42.4 2,849 35,402 1,142.6 EBITDA 133,762 154,825 15.7 31,299 68,091 117.6

Gross Profit Margin (%) 4.8 10.6 4.7 17.4 Operating Profit Margin (%) 2.0 5.8 -0.1 12.8 Net Profit Margin (%) 0.7 1.9 0.8 9.9 EBITDA Margin (%) 5.4 11.2 8.7 19.0

1. Company Profile

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Diverse Product Portfolio

Olefins

Polyolefins Styrene Monomer Butadiene

Ethylene

Py-Gas

Propylene

Mixed C₄ Polypropylene

Polyethylene

Established PT Synthetic Rubber Indonesia, JV between SMI and Michelin, to build Styrene Butadiene Rubber plant.

Net Revenues US$869 million

63% 12% _19%

Net Revenues FY-2015: US$1,377 million (100%)

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358 359 4.7% 17.4% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 16,0% 18,0% 20,0% 357 358 358 358 358 358 359 359 1Q-2015 1Q-2016 18 26 0.7% 1.9% 0,2% 0,3% 0,4% 0,5% 0,6% 0,7% 0,8% 0,9% 1,0% 1,1% 1,2% 1,3% 1,4% 1,5% 1,6% 1,7% 1,8% 1,9% 2,0% 4 8 12 16 20 24 28 2014 2015 2.8 35.4 0.8% 9.9% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 5,0 10,0 15,0 20,0 25,0 30,0 35,0 40,0 1Q-2015 1Q-2016

Financial Performance

2,460 1,378 4,8% 10.6% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 850 900 950 1.000 1.050 1.100 1.150 1.200 1.250 1.300 1.350 1.400 1.450 1.500 1.550 1.600 1.650 1.700 1.750 1.800 1.850 1.900 1.950 2.000 2.050 2.100 2.150 2.200 2.250 2.300 2.350 2.400 2.450 2.500 2.550 2.600 2014 2015

1. Company Profile

4. Industry Outlook 3. Project Updates

Net Revenues (million US$) & Gross Profit Margin (%)

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2.

3. Project Updates

4.

Industry Outlook

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1. Company Profile

2. Operational & Financial Performance 4. Industry Outlook

3. Project Updates

DA-415 New Propylene Tower EBR Compressor

BA-109 New Furnace



Achieved Mechanical Completion on 9 December 2015.



TAM/Expansion tie-in works successfully completed on

schedule. Cracker re-started with on-spec products on

19 December, 5-days ahead of plan.



Total spending US$378m vs budget of US$380m as of

31 December 2015.



Cracker facility capacity increased to 860 KTA (up to

43%) since early 2016.

Cracker Expansion Project

"With Cracker capacity

equivalent to world-class

capacity added with plant

modernization, CAP further

established its position in the

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

EPC contract awarded to Toyo Engineering & IKPT in

June 2015.



CAP has fully injected total equity of US$54m.



Overall progress 27% as of May 2016.



Drainage work & temporary site facility completed.



Soil improvement work, civil construction work,

structure and building erection, on-going.

Future SBR Plant Facility Area

Soil Improvement Temporary Site Facility CCR & Substation

SBR plant project

1. Company Profile

2. Operational & Financial Performance 4. Industry Outlook

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2.

3.

Project Updates

4. Industry Outlook

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1. Company Profile

4. Industry Outlook

3. Project Updates

80% 82% 84% 86% 88% 90% 0 100 200 300 400 500 600 700

2009 2011 2013 2015 2017F 2019F 2021F

% Util isation r ate s Gap ove r na ph tha ( Dollar s pe r to n)

Ethylene Delta Over Net Raw Material Cost Global utilisation rates

Note:

- 2015 is based on actual on year to date basis (Jan-Nov)

60% 70% 80% 90% 0 200 400 600 800 1000 1200

2009 2011 2013 2015 2017F 2019F 2021F

% Util isation r ate s Gap ove r na ph tha ( Dollar s pe r to n)

Polyolefins Delta Over Net Raw Material Cost Global polyolefins utilisation rates

Note:

- 2015 is based on actual on year to date basis (Jan-Nov) SEA Ethylene price spreads over naphtha

Demand fundamental remain good for petrochemical industry over the next few years, new capacity additions post 2015 resulting in modest decline in average margins following period of sustained higher profitability

SEA Polyolefins price spreads over naphtha

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70% 80% 90% 100% 0 100 200 300 400 500 600

2009 2011 2013 2015 2017F 2019F 2021F

% Util isation r ate s Gap ove r ne t r aw m ate rial cost (Dollar s pe r to n)

Styrene Delta Over Net Raw Material Cost* Global utilisation rates

Note: - 2015 is based on actual on year to date basis (Jan-Nov)

- Forecast price is based on Brent Crude at $30 (2016-2020) and $50 (2021-2022) per barrel * Styrene market price less net raw material prices (benzene*.0.78 + ethylene*0.28) 60% 70% 80% 90% 100% 0 500 1000 1500 2000 2500

2009 2011 2013 2015 2017F 2019F 2021F

% Util isation r ate s Ga p ove r na ph th a (Do lla rs pe r to n)

Butadiene Delta Over Net Raw Material Cost Global utilisation rates

Note:

- 2015 is based on actual on year to date basis (Jan-Nov)

- Forecast price is based on Brent Crude at $30 (2016-2020) and $50 (2021-2022) per barrel

SEA Butadiene price spreads over Net Raw Material Cost SEA SM price spreads over Net Raw Material Cost

Source: Nexant (Feb 2016)

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CAP is a market leader in Indonesia across all of its products and a leading player in the region .

0 1000 2000 3000 4000 5000 S C G P TT E xx onMo bi l Lott e TP C C hand ra A

sri PC

G C hev ron P hi lli ps P ol ytama JG S umm it N ghi S on Refi nery &… Thous and tons per y ear

HD LL LD PP

Polyolefin Top 10 South East Asia Producers Largest Petrochemical company in Indonesia(1)

Ethylene (2015) Polyethylene (2015)

1

Polypropylene (2015) Styrene Monomer (2015)

Total Supply: 1.4M tons

Total Supply: 1.6M tons Total Supply: 0.2M tons

6

Total Supply: 1.4M tons

1. Company Profile

4. Industry Outlook

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Disclaimer:

Important Notice

• This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor any of its content may be reproduced, disclosed or used without the prior written consent of PT Chandra Asri Petrochemical Tbk.

• This document may contain statements that convey future oriented expectations which represent the Co pa y’s present views on the probable future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company.

• None of the Company, PT Chandra Asri Petrochemical Tbk or any person connected with any of them accepts any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.

Address:

PT Chandra Asri Petrochemical Tbk

Wisma Barito Pacific Tower A, Lt. 7 Jl. Let. Jend. S. Parman Kav. 62-63 Jakarta 11410

Contact:

Investor Relations

Email: investor-relations@capcx.com

Tel: +62 21 530 7950 Fax: +62 21 530 8930