Investor Update April 2022

Naphtha Aromatics Olefins 2022 Petrochemical Outlook Price Y2021 4Q2021 1Q2022(E) 2022(E) HDPE 1,182 $/Ton 1,600 PP Film 1,321 1,252 1,335 1,315 - 1,365 1,365 - 1,415 1,365 - 1,415 1,347 - 1,397 1,400 1,200 1,000 HDPE CFR SEA PP Film CFR SEA 800 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Price Y2021 $/Ton BZ 914 4Q2021 945 PX 859 893 1Q2022(E) 1,080 - 1,130 1,100 - 1,150 2022(E) 1,130 - 1,180 1,160 - 1,210 1,400 1,200 1,000 800 BZ FOB Korea - PX CFR Taiwan 600 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 $/Ton Price Naphtha MOPJ Y2021 647 4Q2021 744 1Q2022(E) 897-947 2022(E) 935-985 1,100 900 700 500 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Source: PTT, PRISM Petrochemical Rolling as of March 2022 ptt Olefins + Tighten Asian supply from production cuts due to squeezed margins and seasonal turnarounds in late 1Q until 2Q + Expected demand recovery according to brighter economic prospects and higher vaccination campaigns - + Stronger feedstock costs and freight rates to support olefins prices Incoming additional Asian capacities from Northeast Asia and Southeast Asia especially China throughout 2022 Aromatics - + Lower supply from production cuts due to squeezed margin and seasonal turnarounds in late 1Q until 2Q + Higher demand from new capacities of SM/ PTA downstream and economic recovery + Stronger feedstock costs to support aromatics prices - Closed Asia-US arbitrage opportunities to weigh on BZ sentiment Elevated Chinese inventories pressure on BZ & PX markets Incoming additional Asian capacities from Northeast Asia and Southeast Asia especially China throughout 2022 Naphtha + More gasoline blending demand especially US driving season in 3Q + Additional demand from petrochemical plants which expected to COD throughout 2022 - Weak demand as a result of switching to LPG after winter and sluggish petchem margins, prompted more Asian crackers to reduce operating rates Cracker maintenance between late Q1 to early 2Q - - Rising supply from higher refinery's utilization rate resulted from recovered demand 26

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