Investor Presentaiton

Overview and Outlook Mainland China: 500 Uncertainties are expected to continue into Q2. Weaker demand coming from tire market. -500 USA: • Demand growth is expected to continue into 2019. ☐ Peers continue to announce price increase due to strong demand. India: Market demand has been strong. Supply is catching up quickly. Selling price is impacted by imports from China. -1,000 0 4Q/18 CSRC Estimated GP/Mt among Chinese Makers 10/19 Source: BAIINFO.COM Inc., 4/11/2019 Taiwan: • Higher utilization rate with co-generator revamping. Carbon black production is expected to increase.

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