16 February 2021 - listed company

[Pages:27]16 February 2021

AGENDA

2020 Key Highlight IRPC Strategy & BIZ PLAN Industry Outlook Operation & Financial

2

2020 IRPC Key Highlight

Operation

? Strengthen Operation & Reliability

? Fully Digital Adoption in Operation

? Floating Solar COD in June20 to increase clean energy

STRENGTHEN IRPC

Performance

Commercial

2020 vs 2019

? 3% decrease in Crude Run amid COVID-19 pandemic ? 21% decrease EBITDA

Stock loss & LCM Realized oil hedging OPEX

Finance

? Bond Issuance 12,000 MB ? Lower Cost of Debt

? Maintain Market Position ? Product and Valued Creation ? Driving Innovation

Medical/ Hygiene Automotive

Bond 12,000 MB Lower Cost of Debt

Corporate

? Cross Functional Team Work ? Reducing Unnecessary Work ? Cost Saving Program

3C Strategic Approach Climate Change

Renewable Energy

? NOAH : New Organization with Agile Human

Circular Economy

Recycle &

Upcycling

Creating Social Value

Prosthetics Project

Lumsaiyong Model

3

AGENDA

2020 Key Highlight IRPC Strategy & BIZ PLAN Industry Outlook Operation & Financial

4

IRPC Strategy

IRPC Strategic Transformation Roadmap

STRENGTHENING

THE CORE

2020 - 2023

EBITDA Target, MB

4,692

As is (Actual 2020)

Description:

Increase performance efficiency Cost effectiveness Maximize profitability from all assets

STRIVING

THE GROWTH

2022 - 2025

20,000

Best-Ever

3S + 3C

Expanded value chain opportunities

respond to customer needs

SUSTAINING

THE FUTURE

2020 - 2030 onwards

30,000

Aspiration

Employee

Commitment

Business Innovation Circular economy

Key Focus:

Employee Commitment

Customer / Partner Collaboration All Stakeholders Connectivity

5

2021 - 2025 Business plan initiatives

Survival & Resilience

Key Strategic Transformation

IRPC's Pain Point

1 Return on Asset

STRENGTHENING

? Lower-than-expected Return on Assets as the price and spread impact

2

THE CORE

(2020-2023)

3

Cost

Employee Commitment

4

? Employee Expenses exposed higher growth

5

STRIVING

THE GROWTH (2022-2025)

Customer / Partner Collaboration

Revenue

6

? Volatile Performance following market conditions because of high Commodities Portfolio

7

Reimagine

SUSTAINING

THE FUTURE (2020-2030)

All Stakeholders Connectivity

Strategic Initiatives

Strengthen IRPC ? Turnaround the Low

Performer assets by RTS

Reliability Improvement ? SPRINT to "Zero loss

Unplanned Shutdown" Ultra Clean Fuel (UCF) ? Gas Oil Competitiveness

Building

Infrastructure and Asset ? Seek Opportunities for

Sustainable Value

NOAH and Cost ? Re-structure staff costs

and Cost Reduction

Specialty Product ? Portfolio Shift to High

Value added Product

Galaxy ? Synergy for growth

direction in the future

Target

Benefit

+4,552 MB

2020-2024

Cost saving

+600 MB

Contribution margin

+3,700-4,200 MB

2024 (Full capacity)

EBITDA

+1,365 MB

2021-2025

Cost Saving

+4,067 MB

2021-2025

Contribution margin

+2,185 MB

2021-2024

Net Profit

+1,722 MB

2021-2025

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AGENDA

2020 Key Highlight IRPC Strategy & BIZ PLAN Industry Outlook Operation & Financial

7

Oil Demand Outlook

Coronavirus still spreading fast

Global newly confirmed coronavirus cases per day, 7-day moving average

World GDP will rebound in 2021

Global Annual GDP Growth

Source: Johns Hopkins University

Gasoline and gasoil/diesel lead demand rebound in 2021

Demand Oil Growth by Product, y-o-y

2020 growth: (-8.8) MMB/D

2021 growth: 6.1 MMB/D

Source: Platts

2022 growth: 2.8 MMB/D

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