Formosa Petrochemical : 2024 1Q Results Presentation

2024 1Q Results

May 2024

Agenda

1. Financials
2. Market Fundamental

3 Industry Outlook

4 Plant Operation

5 Expansion

2

Financial Status

(Unit: NTD Million)

Sales Breakdown By Segment

	1Q24	4Q23	QoQ		1Q23		YoY	15.4%	5.1%	0.5%
													79.0%
Revenues	171,197	175,878	-2.7%	184,642		-7.3%
									Refinery		Olefin		Utility		Others
												QoQ
Operating
3,208	(467)	-		4,284		-25.1%		Refinery 0.6%
Profit
									Olefin	6 %
Net Income	5,024	1,456	245.0%	4,434		13.3%
									Utilities 13.5%
EPS	0.53	0.15	0.38		0.47		0.06
							3

	Market Fundamentals
Dubai Crude vs. Product Differentials		Source: Reuters, ICIS,IHS, company data
(US$/BBL)				FPCC vs. Singapore complex margin
70	Jet Fuel/Kero	Diesel	(US$/BBL)
65	FPCC Export Raw Material Margin
60	Gasoline	Naphtha-MOPJ	30
	Singapore Complex Margin
55	Fuel Oil	Base Oil 150N
25
50						1Q $12.4
45			20
40			15
35
		10
30
25			5
20			0
15
10
5					FPCC's Olefin Spread
0
-5			(US$/KT)
-10
				Ethylene	Propylene	Butadiene
-15			800
-20			700
		600
-25			500
		400
-30			300
-35			200
		100
			0				4

Industry Outlook - Refinery

2024/2025 Global Capacity Additions

Unit: KB/D

Source: IEA, PIRA, company research

Europe &

Russia

-257

Asia 975

Middle

East

Americas429

365

Africa

90

China	Japan
-220
740

others

India 225 230

(KB/D)	2024	2025
Capacity additions	815	787
Oil Demand Growth	1,200	1,100	5

Industry Outlook -Olefin

2024/2025 Global Ethylene Capacity Additions

Asia Capacity Additions

Source: CMA

(KTA)

(KTA)

7,000
	5,844	5,820
6,000
5,000				1,000				400
4,000
3,000
	4,844	5,420
2,000
1,000
0
		2024	2025

6,000	4,844				5,420
5,000						504
			598
4,000
			1,000
3,000
									4,916
2,000
3,246
1,000
0	2024				2025
			China		Vietnam		India		Indonesia

Asia		Americas		Middle East	6

Utilization Rate	Plant Operation
110%
100%		82%	89%
90%	81%		75%	78%
80%		67%
70%	63%
	57%
60%			55%	53%
50%	1Q23	2Q23	3Q23	4Q23	1Q24

Schedule Maintenance

Refinery

Olefins

2024 1H

2024 2H

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

CDU #1 (180K bpd)

CDU #2 (180K bpd)

CDU #3 (180K bpd)

RDS #1 (80.5K bpd)

RDS #2 (80.5K bpd)

RCC #1 (84K bpd)

RCC #2 (84K bpd)

Base Oil (14 k bpd)

Olefin #1 (0.7mta)

Olefin #2 (1.035mta)

Olefin #3 (1.2mta)

planned

7

Disclaim er

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

Thank you

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