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Investor Presentaiton

MT • China Continues to Drive Asian LPG Demand Chinese LPG Demand Outlook Remains Favorable China's 3Q20 imports decreased by 2.9% Y/Y to 5.2 MTPA vs. 5.4 MTPA in 3Q19 YTD imports decreased by 5.6% Y/Y to 14.4 MTPA vs. 15.2 MTPA for the same period last year • 4Q20 imports are expected to stay healthy as China seeks to build inventory ahead of winter demand • PDH utilization averaged nearly 85% in August, up from 79% in July Lunar New Year and Lockdowns Impacted YTD Demand, but Inventory Restocking is Underway 25.0 CAGR: 30.5% 20.5 18.3 18.8 Y/Y: (5.6)% 20.0 15.2 14.4 15.0 10.0 6.9 4.2 5.0 11.9 15.9 2013 2014 2015 2016 2017 2018 2019 2019 YTD 2020 YTD Source: Bloomberg Note: YTD values shown through September 30, 2020 17
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