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Formosa Petrochemical 2007Q1 Results Presentation

Formosa Petrochemical 2007Q1 Results Presentation. For the Three Months Ended in March 31, 2007. Index. 1. Our Company. 2. Financials. 3. Refinery Division. 4. Olefins Division. 5. Capital Expansion. Refinery. Olefins. Utilities.

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Formosa Petrochemical 2007Q1 Results Presentation

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  1. Formosa Petrochemical 2007Q1 Results Presentation For the Three Months Ended in March 31, 2007

  2. Index 1 Our Company 2 Financials 3 Refinery Division 4 Olefins Division 5 Capital Expansion

  3. Refinery Olefins Utilities Our Company: Leading Private Integrated Producer in Asia Source: Company data. PrincipalShareholders FormosaPlastics 29.4% Nan YaPlastics 23.8% Formosa Chemicals & Fibre 25.2% Formosa Taffeta 4.0% 1 Taiwan Ratings on FPCC 2 Formosa Petrochemical 100% 88% Formosa Oil(Asia Pacific) Formosa Petrochemical Transportation Note 1: Shareholding percentage as of December 2006. Note 2: Taiwan Ratings on FPCC as of January 2005. Source: Company data. • Taiwan Stock Exchange IPO on December 26, 2003. Founded by Formosa Plastics Group companies in 1992 • One refinery, two naphtha cracker plants and three co-generation plants vertically integrated in No.6 Naphtha Cracker Complex site • As of Dec 2006, total refining capacity is510,000 bpd, ethylene capacity is 1.735 million MTY and electricity generation is 2,720 MW

  4. Our Company:Our Track Record Source: Company data. Sales Revenue (NT$ billion) Rapid Growth Consolidating the Lead Start-Up CDU II De- bottleneck (180,00) CDU III De- bottleneck (180,00) CDU I De- bottleneck (180,00) Refinery (bpd) CDU I (150,000) CDU II(150,000) CDU III (150,00) Plant I De- bottleneck(700,000) Cracker (tpa) Plant II (900,000) Plant I (450,000) Co-Gen I(300) Co-Gen III (320) Co-Gen II-UPA (600) Co-Gen II-UPB (600) Co-Gen II-UPC (600) Co-Gen (MW) CFB(300)

  5. Financials Source: Company data. Operating Profit by Division Sales Revenue by Division 1 1 1 Sales Revenue by Products 1 Historical Operating Profit by Division (NT$ billion) Note 1: “Other Products” includes Butadiene, LPG, MTBE, Asphalt, Sulfur and etc.

  6. Financials Source: Company data.

  7. Refining Division: Macro Environment Source: Reuters, industry sources. Dubai Crude/Oil Product Differentials Crude Price Index (US$/bbl) (US$/bbl) Singapore Refining Margin (US$/bbl)

  8. Refining Division: Operations Source: Company data. 2006 Upgraded Facilities Refinery Sales and Utilization Rate • CDU (180kbpd): March ~ April • CDU (150kbpd): revamped 120% • RDS (70kbpd): revamped 117~130% • RCC (73kbpd): revamped 110% (NT$ million) 2007 Schedule Maintenance

  9. Refining Division:Product Market Source: Company data. Gasoline and Gasoil Cracks Domestic vs. Export Sales Volume (US$/bbl) (‘000 KL) Gasoline Gasoil 86% FPCC Gasoil Production Yield Rate 50% 86% 56% 50% 44% 14% 14% (‘000 KL)

  10. Olefins Division:Macro Environment Source: CMAI, Reuters, industry sources,. Naphtha vs. Ethylene Spread Global Ethylene Utilization Estimates (US$/MT)

  11. Olefins Division: Macro Environment Source:, Reuters, industry sources,. Regional Petrochemical Prices Downstream Spreads (US$/MT) (US$/MT)

  12. Olefins Division:Plant Operation Source: Company data. Quarterly Sales and Utilization Rate 2006 Schedule Maintenance • OL#2 (1.035m tpa): undeclared • OL#1 (700ktpa): Sep ~ Oct (NT$ million) 2007 Schedule Maintenance

  13. Expansion Plan:Refinery Source: Company data. FPCC Refinery Expan-sion 1 Change in FPCC Refinery Capacity and Yield Rate CDU capacity 1 (bpd) Note 1: Schedule subject to change without prior notice.

  14. Expansion Plan:Olefins Source: Company data. FPCC Olefins Expan-sion 1 Formosa Group Down-stream Expan-sion 1 Note 1: Schedule subject to change without prior notice.

  15. Disclaimer • This document has been prepared by Formosa Petrochemical Corporation (“FPCC” or the “Company”) solely for meetings with potential investors • The information contained in this document has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document • This document does not constitute an offer or invitation to purchase or subscribe for any securities in the Company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase securities in the offering should be made solely on the basis of the information contained in the Offering Circular • included in this document contain forward-looking statements and information relating to the Company. The Company has generally identified forward-looking statements by the use of terms such as “may”, “might”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or similar words or phrases. The Company bases these statements and financial information on its beliefs as well as its assumptions made using information currently available to it. Because these statements and financial information reflect the Company’s current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information. The Company does not undertake to release the results of any revisions of forward-looking statements and financial information to reflect future events or circumstances. The Company cautions investors not to place undue reliance on these forward-looking statements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company’s behalf are qualified in their entirety by these cautionary statements • No part of this document may be distributed, reproduced or transmitted to any third party

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