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OQ - Company presentation

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16 Oil and gas fields -

155,000 barrels per dayPortfolio

of 35+ products6,200

Employees

15Downstream Plants

in 11 cities 2000 +

Customers in 60+ countries

*

* As of last valuation at Dec. 31 2018

Omani State-Owned Company Started in 1996 (Oman Oil Company) & 1982 (Oman Refinery Company)

Portfolio Size EBITDA Investments

$16 B $2.3 B 54

9 companies have come together as OQ

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Global PresenceOperations spanning 15 countries

USA

Mexico

Brazil

Singapore

ChinaJapan

India

Pakistan

Oman

UAETurkey

GermanyNetherlandsUK

Spain

Includes Production Site

Sales Office Only

Key

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Our Journey Continuing to grow since our foundation in 1982

Oman Refinery CompanyCommissioned as the first refinery in Oman, with a capacity of 50k bpd

Oman Oil CompanyEstablished as a wholly-owned entity by the Govt. of Oman

Oman Gas Company

Oman Oil Marketing Company(omanoil)

Oman Trading InternationalFounded OTI

Oman Refinery Co. & Sohar Refinery Co. MergerFormation of Oman Refineries and Petrochemicals Company

Oman Oil Company Exploration & ProductionEstablished to optimize Omani upstream participation via JVs and operated oil & gas fields

Salalah MethanolProgramme AppleIntegration of Oman Refineries and Petrochemicals Co., Aromatics Oman Ltd., & Oman Polypropylene Co.

OrpicCreated following the initial phase of the integration

OXEAAcquisition of OXEA

Duqm Refinery and Petrochenicals ComplexSigned development partnership agreement with KPI

NAKHLA ProgrammeExploration of value generation across Oman’s oil and gas sectors between Oman Oil Company and Orpic

OQ Brand LaunchDuqm RefinerGround-breaking ceremony

Salalah LPG & Salalah Ammonia Project Foundations

Sohar Refinery Improvements

20182017 2019 2020

20102011 2009 20072013

20001996 2003 20061982

RebrandingOXEA is rebranded as OQ

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Upstream Downstream CommercialExploration and

productionGas processing and transmission Refineries Petchem and

specialty chemicals

Logistics Marketing and trading

Our Value ChainIntegrated assets operating across the full value chain

Suppling products to:

+60 countries

International Oil andGas Markets

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20%

80%

60%26%

14%

47%31%

22%

Non-Core Upstream

Contribution of 2019 EBITDA

USD 2.3 Bn

Non-Core Upstream

Proportion of Valuation (2018)

USD 16 Bn

International

Oman

Proportion of Valuation (2018)

USD 16 Bn

Downstream Downstream

Our Portfolio Balanced portfolio, focused in Oman

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Primary downstream is comprised of oil-based products. Prices are highly-related to oil prices (e.g. transportation fuels).

OQ’s downstream value chain produces products that touch many consumer sectors, reducing correlation with oil prices and adding a margin of more than$2Bn / year

Barrels Per Day Oil and Condensate

Production

OQ Gas Transmission

System

Duqm PetchemAromaticsLiwa PlasticsChemicalsOMIFCOMethanolAmmoniaLPGSamahram Petchem*

End products with no direct threat of substitution across many sectors and industries:

• Textiles• Sports equipment• Automotive parts• Consumer electronics• Furniture• Paints, inks & coatings• Kitchen appliances• Detergents• Medical equipment• Pharmaceuticals• Adhesives• Fertiliser• Others

Primary downstream with demand growth at riskKeroseneSulphurPetroleum cokeGasolineJet FuelGasoilFuel Oil

Natural GasProduction

27% NGLS & other feedstocks for methanol, fertilizers and GTL

ElectricityLNGIndustry (Power and heat)Refinery fuelOil field steam generation

End products

Feedstocks for Further processing

LNG exports and Bunkering

Notes: Data is projected for 2026. Includes Liwa Plastics, Duqm Refinery and LNG Bunkering Projects. Samahram demand not includedSM3 is standard cubic meters.

36% exports

37% End products

PolypropylenePolyethyleneEthylene GlycolsAldehydesAlcoholsEstersPolyolsAminesHigher AlcoholsHigher AldehydesCarboxylic AcidsSpecialty EstersAmmoniaMethanol

64% domestic use

32% Oman Downstream

68% Exports

41 Mn

147SM3/Day

8%

24%

MAF-Sohar 1,-Sohar 2 & Duqm

Refinery)

Refineries

Our Business ModelDiversify and Add Value

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Our Strategy

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One OQOpportunity to unlock synergies in a large portfolio

Global Integrated Energy Company

Reach globallyMaximise value chain

Share resources

Deliver long-term growth Create value and ROI

Offer smart energy for better living

Sustainability

Improve input costsOptimise logistics

Invest in innovation

Business Excellence

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An Integrated energy company delivering Sustainability & Business Excellence, the Omani way

Our AspirationsCustomers are central to our business

Talent• Our people thrive globally

• We are proud of the talent we grow

Hydrocarbon• Manage 1 million barrels of oil

equivalent per day• Add at least USD 25 of value per barrel

in our downstream business

Financials• Minimum of USD 1B dividends

declared per year as of 2029 onwards• Increase value to shareholder funds

from USD 8B contribution to USD 30B market capitalisation

Nation• Facilitate international & local private

participation in the oil and gas sector

• Double our GDP contributions to USD 20B

Customers

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Our AspirationsThe bar is set high for our 2030 aspirations

1M

Barrels per day managed

$25+

Of value added per barrel in downstream

2x

Double OQ's 2019 EBITDA and

valuation by 2030

$1B+

Of dividends for our shareholders

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201

9 b

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ston

Con

sulti

ng G

roup

. All

right

s re

serv

ed.

POSITIONED AS A LEADING INTEGRATED ENERGY PLAYER

POISED FOR GROWTH

Upstream Downstream

2018

Group formation

2019

Launch of OQ brand

2022

Block 65

2020

LiwaPlastics

Salalah LPG and Ammonia

Block 60 –Bisat

2023

Block30

GB LNG Bunkering

2025

Block47

2026

Duqm Petchem

2027

Block52

2028

DuqmRefinery

First Renewable

Energy Projects

First Retail project

Samahram

GB GTL

Pre FID

Our AspirationsPipeline includes many exciting projects for continued growth

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Our Strategic PrioritiesProject delivery for 2020

Block 60Expansion

Achieve total working interest average daily

production of 24 kboe/day in 2020

DuqmPetchem

Progress tendering and

financing in support of a FID in

2021

Project

2020 Objective

ProjectSamahram

Complete detailed feasibility

study

GreaterBarik

FID of LNG Bunkering Project

SalalahLPG

Project completion and

commencement of commercial operations

LPIC

Project completion and

commencement of commercial operations

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OQ Chemicals

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OQ ChemicalsWorld Market Leader

• OQ Chemicals is an industry leader for products likePropanol, 2-Ethylhexanol, Butanol, Butyl Acetate and1,3 Butylene Glycol.

• OQ Chemicals is market leader for synthetic fattyacids in the C3 to C9 acid range.

• We have strong market positions in Europe and the US.

• We increase capacities to strengthen our marketposition and to support our customers’ growth.

• Our 1,000+ customers across different industriesguarantee our business stability and robustness.

No.1

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TokyoNanjing

AmsterdamMarlOberhausenMonheim

HoustonBay CityBishop

Production Sites

Mexico City

Singapore

Bishopapprox. 35

Bay Cityapprox. 180

Amsterdamapprox. 25

Marlapprox. 70

Oberhausenapprox. 850

Nanjingapprox. 50

Chemicals FootprintOperations across the globe

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2012

2013

2014

2017

2018

2019

2022

2026

Start up of new Specialty Esters unit #2 in Oberhausen

Start 1.3 BG capacity increase project in Bishop, USA

Revamp acid unit #2 to support growth strategy in animal feed business (Oberhausen)

Implementation of TCD-Diol Debottlenecking project in Oberhausen

Start up of new Propanol 2 in Bay City, USA

Rebranding as OQ Chemicals

Acid Debottleneck

Alcohol expansions in Bay City, USA

Start up of new Specialty Derivatives plant in Nanjing, China

Start up of new Carboxylic Acid unit #3 in Oberhausen

New TCD train

New Acid Train

Duqm Petchemplant

Strategic HighlightsContinuing investments to remain a market leader

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Poly

ols

AldehydesAlcoholsEsters

EthylenePropyleneButeneHigher OlefinesNatural Gas

Raw materials Oxo-Intermediates Oxo-Derivatives

Process Process

Syngas

Hig

her

Ald

ehyd

es &

Spec

ialty

Der

iva

tives

Aci

ds

Spec

ialty

Est

ers

Am

ines

OQ products find many applications in everyday life

Value ChainFrom raw material to application components

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Diversified product portfolio Applicable in a wide range of end-uses

Applications: Lacquers, Polymer Additives, Flotation Chemicals, Flavors & Fragrances

Oxo-Intermediates Oxo-Derivatives

Aldehydes

Applications: Lubricants, Siccative, Flavors & Fragrances, Polymer Stabilizers, Feed Additives, Corrosion Inhibitors

Alcohols

Applications: Chemical Intermediates, Cosmetics, Paints & Coatings, Printing Inks, Pharmaceuticals,Pharmaceuticals, Solvents

Esters

Applications: Chemical Intermediates, Flavors & Fragrances

Higher AldehydesApplications: High Solids Coatings, Powder Coatings, Cosmetics, Lubricants, Polymer Additives

Polyols

Carboxylic AcidsApplications: Agrochemicals, Rubber Chemicals, Polymer Additives, Pharmaceuticals, Surfactants, Dye Intermediates, Specialty Chemicals, Corrosion Inhibitors

Amines

Applications: Plasticizers, Lubricants, Coalescing Agents

Specialty EstersApplications: Plasticizers, Lubricants, Flavors and Fragrances, Surfactants

Higher Alcohols

Applications: Surface Coatings, Lacquers & Paints, Polymer Additives, Lubricants, Solvents, Disinfectants

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• Lacquers & Paints• Lubricants• Printing Inks• Flavours & Fragrances

• Automotive & Transportation

• Industrial Goods• Construction & Real Estate• Consumer & Retail• Pharmaceuticals• Cosmetics• Print Media

• Propionaldehyde • n-Butyraldehyde • Isobutyraldehyde • n-Butanol• Isobutanol• n-Propanol• n-Propyl acetate • n-Butyl acetate• Isobutyl acetate • 2-Ethylhexanol

Oxo-Intermediates Oxo-Derivatives

OQ

Pro

duct

s

Aldehydes / Alcohols / Esters Carboxylic Acids Polyols Amines Higher Aldehydes Higher Alcohols Specialty Esters

• Propionic acid (AF)• n-Butyric acid (AF)• Isobutyric acid• Valeric acid (HP)• 2-Methylbutyric acid• 3-Methylbutyric acid• Heptanoic acid (HP)• 2-Ethylhexanoic acid• Pelargonic acid

(HP+ HALAL)• Isononanoic acid• Isopentanoic acid

• Lubricants• Siccative• Flavors & Fragrances• Polymer-Stabilizers

• Verbraucher & Einzelhandel

• Industrielle Güter• Kosmetika• Agrarindustrie• Verpackungen

Key

App

licat

ions

• 1,3 Butylene Glycol• TCD Alcohol DM• Neopentyl Glycol• TMP

• High Solids Coatings• Powder Coatings• Cosmetics • Lubricants• Polymer Additives

• Konstruktion & Immobilien

• Automobil & Transport

• Elektroindustrie• Kosmetika

End

mar

kets

• Propylamines• Butylamines• 2-Ethylhexylamines• n-Octylamine• Dimethylbutylamine

• Agrochemicals• Rubber Chemicals• Polymer Additives• Surfactants• Dye Intermediates

• Chemical Intermediates

• Flavours & Fragrances

• Performance Chemicals

• Agrochemicals• Flavours &

Fragrances

• Plasticizer• Lubricants• Coalescing Agent

• Agrarindustrie• Automobil & Transport

• Verbraucher &Einzelhandel

• Konstruktion &Immobilien

• Pharmazie• Printmedien

• Verbraucher & Einzelhandel

• Industrielle Güter• Verpackungen• Pharmazie

• Automotive & Transportation

• Consumer & Retail• Healthcare & Medical• Construction & Real

Estate• Cosmetics• Pharmaceuticals

• Lebensmittel-verpackungen

• Medizinische Geräte

• Konstruktion• Automobil

• n-Undecanal• n-Nonanal• 2 Ethylhexanal • C13/C15 Aldehyde• Isovaleraldehyde• Isononanal• Valeraldehyde• Propionaldehyde

• 2-Methylbutanol• 3-Methylbutanol• n-Heptanol• n-Nonanol• 3,5,5-

Trimethylhexanol (Isononanol)

• TCD Alcohol M

• OXSOFT 3G8• OXSOFT DUO 1• OXSOFT DUO 2• OXSOFT TOTM• OXSOFT TOTM ST• OXOSOFT GPO• OXFILM 351• OXLUBE L9-TMP

• Consumer & Retail• Industrial Goods• Cosmetics• Agriculture• Packaging

• Construction & Real Estate

• Automotive & Transportation

• Electronics Industry• Cosmetics

• Agriculture• Automotive &

Transportation• Consumer & Retail• Construction &

Real Estate• Pharmaceuticals• Print Media

• Consumer & Retail• Industrial Goods• Packaging• Pharmaceuticals

• Food Packaging• Medical devices• Construction• Automotive

Diversified product portfolio Applicable in a wide range of end-uses

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Precursors Intermediates Derivatives(higher) Alcohols

Syng

as

Polyols Acids (Specialty) Esters Amines

C2

C3 Pro-pylene

Ethylene

C4

C8

Butene

Other Precursors

HigherOlefins

Aldehydes

n-Valeric Acid

Isobutyric Acid (AF)

n-Butyric Acid (AF)

2-EH-Acid

2-Methylbutyric Acid

2-Methylpentanoic Acid

Propionic Acid (AF)

Isopentanoic Acid

3-Methylbutyric AcidHeptanoic Acid (HP)

Pelargonic Acid (HP)

Isononanoic Acid (M)

1,3 Butylene GlycolTCD Alkohol DM

NPG

TMP

n-Propanol

2-EH

n-Butanol

Isobutanol

2-Methylbutanol

3-Methylbutanol

n-Heptanol

n-Nonanol

Isononanol

Higher Aldehydes

3-Methyl-butyraldehyde

2-Methyl-butyraldehyde

n-Valeraldehyde

Isobutyraldehyde

n-Butyraldehyde

Propionaldehyde

OXSOFT L9-TMP

n-/Isobutyl Acetate

OXSOFT 3G8

OXFILM 351

OXSOFT TOTM (ST)

n-Propyl AcetatPropylamines

2-EH-Amines

Butylamines

Other Amines

Integrated Production PlatformOverview of the process behind our products

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The OQ day starts

Return home2.00 pm | Lubricants for aircraft turbine

Home project4.00 pm | Wall paint

Lunchtime12.00 pm | Refrigerator, food packaging, disinfectants

Manicure1.00 pm | Nail polish

Kids playing outside3.00 pm | Football, sole of a sports shoe, sun protection cream

Housekeeping11.00 am | Detergent, polishes andCleaning agents

Shopping10.00 am | Plastic bags, thermal paper(parking ticket), food packages

Bringing the car to a workshop9.00 am | Aluminum rims, tires, motor,Safety glass, cable and line systems

Having a shower8.00 am | Shampoo, shower gel, perfume

Watching a movie7.00 pm | Blu-ray / DVD

Yard work6.00 pm | Weeds-Ex, extension cablefor lawnmower

Break5.00 pm | Hand cream

A Day with OQ ChemicalsWe’re with you every hour of the day

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OQ Chemicals in our daily lives: Automotive vehicles

• Butyraldehyde, Oxsoft 3G8: PVB safety glass liner

• Butyl Acetate: Automotive top-coat systems

• Trimethylol Propane: UV car coatings

• Neopentyl Glycol: Aluminum rims powder-coatings

• 2-Ethylhexanoic Acid, Di-n-Butylamine: Vulcanized rubber, adhesion promoters in tires

• Butanol: Acrylic water-based coatings

• TCD Alcohol DM: Touchscreen displays

• DOTP: Upholstery, seats, mats

• 2-Ethylhexanoic Acid: PU foam for dashboards & seats

• Isononanoic, 2-Ethylhexanoic Acids: Synthetic lubricants

• 2-Ethylhexanoic Acid: Coolants

• 2-Ethylhexanol: Cetane improver in Diesel fuel

Outside Inside of vehicle interior Motor compartment

1

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3

4

5

6

7

8

9

10

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12

1

23

45

678

9

10 1112

Average of ~7,5 kg of OQ chemicals in a car

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Household Care

Building

Outdoors

2-Ethylhexanonic, Isononanoic Acids: Sun care products1,3-Butylene Glycol: Skin creamPropionaldehyde, Isovaleraldehyde, Heptanol, Isononanol, Undecanal: Perfume & fragrances

n-Butanol: Exterior architectural paints

2-Ethylhexanoic Acid:Interior architectural paints2-Ethylhexanoic, Isononanoic Acids: PVC window frames

Pelargonic Acid: Garden HerbicidesIsobutyraldehyde: Garden fertilizers

Valeric, Isononanoic, Heptanoic Acids: Jet turbine lubricants

Valeric, Heptanoic, Isononanoic Acids: Refrigeration system lubricants

Propanol: Disinfectants

Neopentyl Glycol: Appliance coatings

Pelargonic Acid: Detergents

2-Ethylhexanoic, Isononanoic Acids: PU flexible foams

2-Ethylhexylamine: Home pest control

Oxsoft TOTM: Cables

TCD Alcohol DM: Glass fiber, Blu-ray,

Pelargonic Acid: Auxiliary in food production

OQ Chemicals in our daily lives: Modern Living

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Any Questions?OQ Chemicals GmbH

Rheinpromenade 4a40789 Monheim am RheinGermany

Tel. +49 2173 9993 0

www.chemicals.oq.com

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Any Questions?OQ Chemicals Corporation

15375 Memorial Dr. Houston, TX 77079 USATel. +1346 378-7300

www.chemicals.oq.com

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Any Questions?OQ Chemicals Nederland B.V.

Amsterdam Esters PlantHornweg 101045 AR AmsterdamThe Netherlands

Tel. +31 (0)20 448 9555Fax. +31 (0)20 613 55 34

www.chemicals.oq.com

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Any Questions?OQ Chemicals Corporation

P.O. Box 1141Bay City. TX 77404-1141USA

Tel. +979 241 4000Fax. +979 241 4279

www.chemicals.oq.com

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Any Questions?OQ Chemicals Bishop, LLC

P.O. Box 9Bishop, TX 78343USA

Tel. +361 584 6920Fax. +361 584 6934

www.chemicals.oq.com

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Any Questions?OQ Advanced Derivatives Nanjing Ltd.

1204, New Century Plaza288 East Zhong Shan RoadNanjing. 210029P.R. China

Tel.: + 86 21 5451 0681Fax.: + 86 21 5451 0682

www.chemicals.oq.com

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Thank you…

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