celanese investor_day_2006_complete_presentation

1

Celanese Investor Day 2006December 13, 2006New York

2

Forward Looking Statements, Reconciliation and Use of Non-GAAP Measures to U.S. GAAP

This presentation may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Certain of these risk factors are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

This presentation reflects three performance measures, operating EBITDA, adjusted earnings per share and net debt as non-U.S. GAAP measures. The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for operating EBITDA is operating profit; for adjusted earnings per share is earnings per common share-diluted; and for net debt is total debt.

Operating EBITDA, a measure used by management to measure performance, is defined as operating profit from continuing operations, plus equity in net earnings from affiliates, other income and depreciation and amortization, and further adjusted for other charges and adjustments. Our management believes operatingEBITDA is useful to investors because it is one of the primary measures our management uses for its planning and budgeting processes and to monitor and evaluate financial and operating results. Operating EBITDA is not a recognized term under U.S. GAAP and does not purport to be an alternative to operating profit as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Because not all companies use identical calculations, this presentation of operating EBITDA may not be comparable to other similarly titled measures of other companies. Additionally, operating EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements nor does it represent the amount used in our debt covenants.

Adjusted earnings per share is a measure used by management to measure performance. It is defined as net earnings (loss) available to common shareholders plus preferred dividends, adjusted for other charges and adjustments, and divided by the number of basic common shares, diluted preferred shares, and options valued using the treasury method. We provide guidance on an adjusted earnings per share basis and are unable to reconcile forecasted adjusted earnings per share to a GAAP financial measure because a forecast of Other Items is not practical. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding various financial and business trends relating to our financial condition and results of operations, and that when U.S. GAAP information is viewed in conjunction with non-U.S. GAAP information, investors are provided with a more meaningful understanding of our ongoing operating performance. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.

Net debt is defined as total debt less cash and cash equivalents. We believe that the presentation of this

non-U.S. GAAP measure provides useful information to management and investors regarding changes to the company’s capital structure. Our management and credit analysts use net debt to evaluate the company's capital structure and assess credit quality. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.

Free Cash Flow is defined as Cash Flow from Operations less Capital Expenditures. We believe that the

presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding changes to the company’s cash flow. Our management and credit analysts use free cash flow to evaluate the company's liquidity and assess credit quality. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.

3

Investor Day 2006CEO UpdateDavid WeidmanPresident and CEO

4

Chemical Products

2006 Revenue (est): $4.6 B

2006 Op. EBITDA (est): $0.85 B

AcetateProducts

2006 Revenue (est):$0.7 B


TechnicalPolymers Ticona



Performance Products



2006 Revenue1 (est)= $6.7 Billion2006 Operating EBITDA1 (est)= $1.2 Billion2006 Adjusted EPS (est)= $2.70 - 2.80

Global #1 Producer2 Cash Generator, Global #1 Producer2

Global #1 Producer in Our Key Products2

Global #1 Producer in Our Key Products2

A Leading Global Chemical Company

1 Includes Other Operating Segment, with Revenue (est) of $0.3 B and Operating EBITDA of ($0.1 B)2Source:Tecnon and SRI. (2005 estimates)

5

An Attractive Hybrid Business Model

Commodity Chemicals

Intermediate Products

Balance of intermediate & specialty products

Oil & GasConsumer Products

• Motorola• Toyota• Sherwin-Williams• Siemens

• Dow*• Lyondell• Methanex

• Rohm & Haas*• ICI*

Celanese

Specialty Products

• Dow* • Eastman*• PPG*• FMC*

* Celanese internal peer group

• Exxon• BP• Shell

6

40% 35% 25%

Balanced Global and End Market Positions

Notes:Includes oxo alcohol and polyol derivative divestiture and pending APL acquisitionEnd use breakdown based on 2006 est. external sales revenueGeographic breakdown based on 2005FY revenue to external customers by destination

Other

11%

Construction

8%

Paints & Coatings

14%

Automotive

9%

Consumer / MedicalApplications

11%

Filter Media

14%

Consumerand Industrial

Adhesives

4%

Textiles

6%Food and Beverage

5%

Chemical Additives

6%

Paper & Packaging

9%

Performance Industrial Applications

3%

7

Execution…Growth…Value

> Phase I : Successful Transition – 2000 to 2006

= Execute transformation strategy

= Growing value

> Phase II: Deliver Growth – 2007 to 2010

= Build geographic lead: Increase presence in Asia

= Grow downstream specialties: Drive business specific opportunities

= Align organization: Better address growth opportunities

Continue to create value in excess of the peer group

8

Focus and strengthen portfolio…2000 to 2006Portfolio Strategy> Invest in specialty businesses

> Build strength in differentiated intermediates

> Extend the acetyl chain globally

> Reduce exposure to non-differentiated, more commodity businesses

> Divest non-core business lines

Fuel Cells

($1.8 B)COCPBI

DivestituresEmulsions GreeceAcrylatesAPL (pending)

Estech JVNylonAcetex

DH Actives TrespaphanVinamul

$1.8 BEmulsion PowdersPolyol derivativesClariant Emulsions

AcquisitionsVectranOxo alcoholsAir Products PVOH

Total Revenue Impact1DivestituresAcquisitions

1Data from the year in which the transaction occurred

9

Focus and strengthen portfolio

% Revenue from Products Holding #1 or #2 Position

% Revenue from Specialty Businesses

2006E12000

55%

36%

40%

31%

33%

5%3

Total Revenue

$6.2 B

Total Revenue

$4.9 B

1Includes oxo alcohol and polyol derivative divestiture and pending APL acquisition2~95% #1 or #2 with the planned 2007 closure of all Celanese methanol production3Primarily methanol and formaldehyde revenue Non-differentiated Intermediates

Specialty Products

Differentiated Intermediates

2006E1,22000

Chemical Products

Ticona

Acetate

Nutrinova

~70%

Chemical Products

Ticona

Acetate

Nutrinova

~95%

10

Productivity on the bottom line

Relentless productivity improvements

Total Employees; EBITDA2000-20061

0

200

400

600

800

1,000

1,200

1,400

2000 2001 2002 2003 2004 2005 2006E

Op

erat

ing

EB

ITD

A (

$000

)

0

20

40

60

80

100

120

% r

edu

ctio

n v

ersu

s yr

-en

d

2000

(ex

M&

A)

EBITDA Number of Employees

Celanese Operational Excellence> 6-year track record of

execution> Continue capture of Celanese

specific opportunities= ~$80 million in additional CE

specific savings in 2007> Ongoing productivity to more

than offset inflation > Continuing growth in existing

assets> Synergies to enable growth

through future acquisitions

1Excludes oxo alcohol and polyol derivative divestiture and pending APL acquisitionNote: EBITDA references are Operating EBITDA, as defined by the Company, unless otherwise noted

11

Significantly improved earnings profile since 2000

Based on Celanese estimates1Excludes oxo alcohol and polyol derivative divestiture and pending APL acquisitionAll numbers are based on CE estimates

Operating EBITDA Growth1

2000 – 2006E ($MM)

300-310

125-130

90-95

110-115 40-45

528

~1,200

Baseline 2000 Volume Margin Increase in Earnings from

Affiliates

Portfolio Optimization

Cost Reduction net

of Inflation

2006E

12

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

YE 2000 Current

20

00

-20

06

EV

($ B

)

Enterprise value growth leads peer group

Celanese Enterprise Value Growth2000 – 2006YTD Debt and Market Capitalization

-6%

-2%

2%

6%

10%

14%

18%

22%

ICI Eastman Dow PPG Rohmand

Haas

FMC Celanese

20

00

-20

06

EV

CA

GR

CE: 18% CAGR

Enterprise Value Growth2000 – 2006YTD CAGR

Market CapitalizationDebt

Track record of growing value

$6.9 B

$2.5 B

Equity value as of December 8, 2006. Source: Thompson Financial; Company 10Ks

13

Execution…Growth…Value

> Phase I : Successful Transition – 2000 to 2006

= Execute transformation strategy

= Growing Value

> Phase II: Deliver Growth – 2007 to 2010

= Build geographic lead: Increase presence in Asia

= Grow downstream specialties: Drive business specific opportunities

= Align organization: Better address growth opportunities

Continue to grow value in excess of the peer group

14

2007 – 2010: Celanese Earnings Growth Strategy

Celanese 2010 Objective:

$300 - $350 million in additional EBITDA growth

Asia

Revitalization Organic

Balance Sheet

Innovation>Productivity

improvements more than offset inflation

>Nanjing Complex>Affiliates

>Acetate>Emulsions

> Ticona – new products and applications

>Acetyls –continued greater than market growth in Acetic Acid and VAM

Operational Excellence

>Evaluate capital structure opportunities

Business Specific

$300-$350 million

EBITDA Growth

15

Asia: Enhancing Celanese’s geographic lead

*Based on Celanese 2005 consolidated net sales (does not include sales from equity and cost investments).

Approximately 50% of earnings from the fastest growing region

2006E Regional Split

Europe

Americas

Asia~30%

Europe

Americas

Asia25%

2010E Regional Split

Europe

Americas

Asia45-55%

Europe

Americas

Asia30-35%

RevenueRevenue

Earnings Earnings

16

Revitalization and acquisition:Acetate drives earnings growth

1 EBITDA as reported excluding special charges, Restructuring in Operations, Other charges. 2 JV dividends from cost investments 3Acquisition Pending

Revitalization opportunities in other businesses

$50

$100

$150

$200

$250

2004 2005 2006E 2007E 2008E

$ M

M

Acetate Seg. EBITDA JV Dividends APL

$220 -230MM

>100% Earnings Growth

Underway: Acetate

> Continue earnings growth through 2008/2009

> Integrate Acetate Products Limited (APL)

Initiated: Emulsions/PVOH

> Enhance customer and regional focus

> Reduce product complexity

> Drive significant productivity improvement through operational excellence

Ongoing: Performance Products

> Support customer formulation development in new products

Acetate Operating EBITDA Impact2004 – 2008E

1 32

17

EBITDA profile increase by ≥ $100 MM by 2010

Application and Customer Innovation:Ticona to drive >2x GDP growth

~$250 MM

2006E EBITDA

>$350 MM

2010 EBITDA Profile

Drive >2x GDP Growth through 2010

> Translation of existing polymers to new markets

> Continued Affiliate growth

> Innovation and new product development

> Polymer modifications

> Accelerating growth in non-automotive applications

> Increase automotive market share and pounds per vehicle

Ticona Operating EBITDA Growth2007-2010

18

Organic growth: Acetyls continued success

60

80

100

120

140

160

180

200

1996 1998 2000 2002 2004 2006E 2008E

Acetic Acid VAM GDP

Celanese Acetic Acid and Vinyl Acetate Normalized Growth1996-2008E

Celanese Acetic Acid : 5.1% (6.3%1)

Market Acetic Acid2: 4.6%

Celanese VAM: 4.4% (5.3%1)

Market VAM2: 3.5%

1996 – 2008E Global GDP3: 3.1%

> Favorable industry dynamics through 2009

> Historical “market-plus” growth continues

> Commercial production from Nanjing begins in 2007

= $600 - $700 million increased revenues from the Nanjing complex by 2010

= >$500 million from Acetyls

> Translate vinyl-based emulsions success to growing Asian market

1Including the Acetex acquisition2Source: Tecnon3Source: CMAI

Gro

wth

CA

GR

19

Goal for 2007 and beyond: more than offset inflation

Operational Excellence: more than offset inflation

2001 2002 2003 2004 2005 2006E 2007Target

Fixed cost reduction Variable and energy improvement

Overall Company Productivity1

average fixedcost inflation

$ m

illio

ns

(yea

r-o

ver-

year

co

st s

avin

gs)

1Does not include productivity from divested businesses

20

Acetyl Intermediates

Formaldehyde

Anhydride and esters

VAM

Acetic Acid

Differentiated Intermediates Specialty Products

Raw Materials

Building Block

Realigning the businesses to accelerate growth

Legend

Nutrinova

Chemicals

AcetateTicona

Engineered Plastics

Nutrinova

Emulsions

Acetate

Engineered Plastics

Nutrinova

Emulsions

Acetate

Raw Materials

Advanced Engineered

Materials (AEM)

Engineered Plastics

Consumer and Industrial

Specialties (CIS)

Nutrinova

Emulsions

Acetate

21

Oxo Alcohol Divestiture

2006 Revenue (est): $0.7 billion

2006 Op. EBITDA Margin (est.): ~10%

Consumer and Industrial Specialties



Advanced Engineered Materials


2006 Op. EBITDA Margin (est.): ~29%3

2006 Pro-forma Revenue (est.) = $6.0 Billion1,2

New organizational alignment

AcetylIntermediates



Increased focus on each business’ growth opportunities

EmulsionsPVOH

AT Plastics

Acetic AcidVinyl Acetate

Acetic AnhydrideOther Acetyl Derivatives

IBN Sina Affiliate

Ticona and AffiliatesIndustrial Specialties

Acetate and Affiliates

PerformanceProducts

1Includes oxo alcohol and polyol derivative divestiture and excludes pending APL acquisition2Does not include Other Operating Segment and Intersegment eliminations3Does not include the additional proportional EBITDA from equity affiliates

22

Celanese: Well positioned for growth

X

Balance Sheet

X

X

Organic

XXAcetyl Intermediates

X

Revitalization

X

X

Asia

XXConsumer and Industrial Specialties

X

Innovation

Celanese Corporate

XAdvanced Engineered Materials


Group

Primary Growth Focus

Op

erat

ing

EB

ITD

AEP

S

$300 – $350 million in additional EBITDA plus EPS potential by 2010

23

Consumer and Industrial SpecialtiesDoug MaddenPresident, Celanese Acetate, AT Plastics, Emulsions & PVOH

24





2006 Revenue (est): $2.2B




2006 Op. EBITDA Margin(est.):~29%3


Consumer and Industrial Specialties Group

AcetylIntermediates




EmulsionsPVOH

AT Plastics

2006 Revenue (est): $1.3 B2006 Op. EBITDA Margin (est.): ~10%

Industrial Specialties

2006 Revenue (est): $0.7 B2006 Op. EBITDA Margin (est.): ~22%


2006 Revenue (est): $0.2 B2006 Op. EBITDA Margin (est): ~38%


1Includes oxo alcohol and polyol derivative divestiture; excludes pending APL acquisition2Does not include Other Operating Segment3Does not include the additional proportional EBITDA from equity affiliates

25

Consumer and Industrial Specialties: A significant opportunity

> Consumer and Industrial Specialties background

> Proven track record of revitalization and growth in Acetate

> Growth and innovation opportunity in Industrial Specialties

> Successful life-cycle management in Nutrinova

26

Similar business dynamics and earnings growth opportunities

► Over 1/3 of total Celanese revenue

► All specialty derivatives of Acetyl Intermediates

► Businesses less sensitive to economic cycles

► Similar consumer / end use dynamics

► Stable cash generation

► Earnings growth through revitalization and innovation

2006E Pro-forma Revenue$6.0B1,2

AdvancedEngineered

Materials

Acetate




1Includes oxo alcohol and polyol derivative divestiture; excludes pending APL acquisition2Does not include Other Operating Segment

27

Aligned to deliver on unmet customer needs

Tailoring innovative solutions

Global footprint, low-cost

manufacturingAcetate

≥ Strong tobacco growth in Asia

≥ Increasing filter length and filter design

Filter Media (Acetate)

Product quality, manufacturing

excellence

PerformanceProducts

≥ Multiple reduced-sugar product offerings

≥ Blending of sweeteners and flavors to enhance taste

Food & Beverage (Nutrinova)

Global footprint, Innovation


> Strong growth in developing markets > Low VOC requirements > Continued growth in convenience items

(non-wovens)

Paints, Coatings & Adhesives (Emulsions/PVOH)

Competitive DifferentiatorCIS GroupKey Trends

28

Major Structural Changes to the Businesses

1999 2006

APL acquisition announced

Divested Emulsion Powders

Acquired Air Products PVOH

Acquired Clariant

Emulsions

Launched Acetate Revitalization

Completed China venture tow expansions

Improved product portfolio

Built the #1 global vinyl-based emulsions business

Extended global reach

Exited Acetate Filament

Acquired Vinamul

Commenced construction of Emulsion plants

in China

Acquired AT Plastics

Revenue 1999: $1.1B

Revenue 2006: $2.2B

29

Acetate: Revitalization continues to deliver earnings growth

Timeframe 2002 2003 2004 2005 2006 2007

> Restructuring/Repositioning= China venture tow expansions

= Filament exit / site optimization

>Historical= Modest cash generation

Complete

Complete

> Beyond 2007= Maximize cash generation

= Selective & sustainable growth

= China venture flake expansion

> APL Acquisition (pending)= Integrate the business

= Capture synergies

2008 2009

30

Acetate Products Limited (APL): A strategic fit

> Broader customer mix and reach

> Brings Flake integration in Europe

> Adds film business

> Increases Acetyl internal consumption

1Assumes GBP= $1.87

> Acquisition amount: $~110MM1, debt free, includes working capital

> 2005E revenue: ~$230MM1

> EBITDA margin: high single digit -low double digit historically

> Significant synergies expected

na.1 sitena.na.na.Specialty Film

Expanded1 site 0 sites2 sites4 sitesFlake

2 sites

3 sites

North America2005

na.na.na.Fully exitedFilament

Expanded3 sites1 site2 sitesTow

China Ventures2005 to 2007E

Europe 2007E

Europe2005

North America 2007E

Financial Impact Strategic Impact

Improved Operations Footprint

31

Acetate: Uniquely positioned in Asia, particularly China

> Region with largest demand

= China represents 30% of global tow market

> Above average growth

= Tow growth projected at 2-3% per year in China versus 1-2% in NA/EU

> Extending leadership

= All expansions on-stream early 2007

= Evaluating next stage opportunities

$32$30

$21

$2

2005 2006E 2007E 2008E

Source: Celanese Estimates

Tremendous growth in earnings and cash flow

Dividends from China Ventures$MM

32

$50

$100

$150

$200

$250

2004 2005 2006E 2007E 2008E

$M

M

Segment EBITDA JV Dividends APL

Acetate: Strong earnings growth continues

$220 –$230 MM

>100% improvement

Consolidated Revenue, $MM

$700

$830-870

2004 2008E

1 2

1 EBITDA as reported excluding special charges, Restructuring in Operations, Other charges. 2 JV dividends from cost investments 3Acquisition Pending

3

33

Looking Ahead:Realizing the Potential

Industrial specialties: building a premier franchise

Positioned via Acquisition:$200 MM to $1,050 MM

Invested, Developed, Became Leader

► # 1 vinyl emulsions producer

► New product introduction

► Optimized R&D centers

► Continuous improvement -selective revitalization opportunities

► Technology - Market Driven Innovation

► Globalizing -Translating VAE Success to Asia0

200

400

600

800

1.000

1.200

PVOH ('99) Clariant('02)

Vinamul('05)

Acquiredbusiness

base

Sales 2006E in MM$

Incremental EBITDA opportunity of ~$50MM

34

Optimize / revitalize Industrial Specialties for growth and productivity

Marketplace Interface


2007 2008 2009

Focus on Controllables

Focus onInnovation

> Enhance customer focus> Consolidate sites/ capability> Reduce complexity> Accelerate Six Sigma

> Capture productivity gains> Consolidate operations> Streamline supply chain> Standardize processes, redesign workflows

35

Translating Vinyl Acetate success to Asia

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

2.0

US Europe China

Reg

ion

al S

ize

(B t

on

nes

)

Vinyls 100% acrylic Styrene acrylics

Global Latex Emulsions Market1

> Demand in China growing at >10%

> Diverse end-market segments

> Good value proposition versus competitive systems

> Meets low VOC requirements

Why China and Why Vinyls?

1Excludes SBR, other minor latexes & powders Source: Kline Synthetic Latex Polymers Market Analysis Europe 2005, North America 2004 and China 2006

1.8

0.7

1.3

36

Translating Vinyl Acetate success to AsiaVAE Case Study

Global VAE Volume

> Formulation expertise

> Technological superiority

> Monomer integration

> Local production assets

> Celanese Nanjing VAE plant close to demand

Celanese Advantages in VAE

Well positioned to drive VAE growth in China1 Kline Synthetic Latex Polymers Market Analysis Europe 2005, North America 2004 and China 2006

0

50

100

150

200

250

300

USA Europe China

2005 Celanese Share of Sales

~50% ~25%

kt

2010 projected Celanese China

1

2010 projected China

37

Stable earnings and cash flow from Performance Products (Nutrinova)

> Food ingredient business:= High intensity sweetener

(Sunett®)= Food protection ingredients

(Sorbates)

> Blends with flavors/other sweeteners drive penetration

> Leading global position with key customers:= Coca Cola, Wrigley, Pepsi, Kraft,

Cadbury (Adams / Schweppes)

11%

74% 15%

Beverages

Confections/ Gums

Other

Sunett® End-Use Applications

38

EBITDA profile increases ≥$100 MM by 2010

Consumer and Industrial SpecialtiesDelivering Sustainable Earnings Improvement

> Acetate – Revitalization, China growth and APL acquisition

> Emulsions/PVOH – Technology, substitution, growth regions

> Nutrinova – Grow volumes, formulation development

> Collectively – Attractive, Growing and Profitable

~$350 MM

2006E EBITDA

≥ $450 MM

2010 EBITDA Profile

Success factors

Achieve ≥ $ 100mm in Earnings Growth

39

Advanced Engineered MaterialsLyndon ColeExecutive Vice President &President Ticona

40











New organizational alignment

AcetylIntermediates




Ticona and AffiliatesIndustrial

SpecialtiesAcetate and

AffiliatesPerformance

Products

1Includes oxo alcohol and polyol derivative divestiture; excludes pending APL acquisition2Does not include Other Operating Segment3Does not include the additional proportional EBITDA from equity affiliates

41

> Established track record for profitable growth

> Advanced Engineered Materials business model

> Growth expectations

Advanced Engineered Materials is well positioned for continued growth

42

Five-year track record of earnings growth

> Substantial volume growth

> Regional growth through affiliates

> Cost reductions help to offset margin compression

> Portfolio optimization enhances earnings profile

AEM Operating EBITDA1

~$250$30

($10)$50

$52

$130

0

50

100

150

200

250

300

2001 Volume Affiliates Margin Net of Cost

Reductionand Currency

PortfolioOptimization

2006E

Op

erat

ing

EB

ITD

A 2

00

1-2

00

6 ($

MM

)

1 Data based on estimates

43

-12.70

-6.2

-0.5

0.5

-1.2

5.3

-15.0

-10.0

-5.0

0.0

5.0

10.0

2001 2002 2003 2004 2005 9M 2006

Del

ta T

ico

na

Op

erat

ing

Pro

fit

as %

of S

ales

vs.

Pee

rs'*

aver

age

Substantial margin improvement relative to peer group

Peer group: corresponding segments of BASF, DSM, DuPont, GE Plastics, Solvay Plastics Zero line reflects peers average - all figures restated –Ticona figures 2005 without special items and COC effectsExcluding effects from Special Charges and other charges

Normalized AEM and peers‘ EBIT

Impact of affiliate dividends further enhances AEM performance

44





45

96 %

4 %

Standard Polymers

High Performance Polymers (HPP)Engineering Thermoplastics (ETP)

Global High Performance Polymer and Engineering Thermoplastics2006E: ~8 MM tons (2006E Growth = 6 %)

ABS, SAN, ASA: 4 %

PE = 34 % PP = 19 %

PET = 5 %

PU = 6 %

PVC = 17 % PS, EPS = 9 %

others = 3 %

Comprising: PA 6 & PA 66, PA 11 and PA 12, PC, POM, PBT, COPE, PET technical, PPE, COC & COP, UHMW-PE, PPS, LCP, High Performance Nylons, PEEK, PEI, PES & PSU, PTFE & other fluoropolymers

Range of Products

Per

form

ance

€ 100 / kg

€ 10 / kg

€ 3 / kg

€ 1 / kg

Focus on High Performance Polymers and Thermoplastics

46Leading position in > 80 % of sales

Strong product portfolio

#1 or #2

X

X

X

X

Medical

X

X

X

Industrial

X

X

X

X

Electrical &

Electronics

X

X

X

X

X

Transportation

X

X

X

Consumer &

Appliance

Fortron®(Polyphenylensulfide)

Celstran®(Long fiber reinforced thermoplastics)

Vectra®(Liquid Crystal Polymer)

Celanex®(Polyester Engineering Resins)

GUR®(Ultra-high molecular weight PE)

Hostaform®(Polyacetals)

Product

47

Revenue by end use market 2006E~ $920MM

Transportation 47%

Electrical & Electronics 8%

Medical 5%

Industrial 10%

Alternate Fabrication12%

Consumer & Appliance 12%

Other 6%

Exposure to a broad range of end-use markets…

…many with growth in excess of global GDP

48

Fueling growth with non-automotive applications

0

100

200

300

400

500

600

2001 2002 2003 2004 2005 2006E

Rev

enu

e ($

MM

)

≥ Steady overall growth for AEM since 2001

= 6% total revenue CAGR

≥ Non-automotive growth is the key driver

= 8% CAGR in non-automotive sales since 2001

≥ Increased diversity to end-use markets

AEM Non-Automotive Revenue Growth

53%47%

CAGR: 8%

% Non-Automotive Revenue

49

Supporting customer growth with global facilities

2006E Sales by Region

Europe 25%

America 25 %

Asia/Pacific 50 %

Note: Regional split refers to Ticona sales + Polyplastics sales

50

Continuous investment in our global franchises

> Core Investments

= Increased POM capacity at Kelsterbach and Bishop

= Doubled LCP capacity in Shelby

= Will build a new 20 kt GUR plant in China by 2008

> Affiliate Investments

= Finalized POM capacity in Nantong

= Investing in the largest global PPS plant at Wilmington (Fortron Industries)

0

50

100

150

200

250

2001 2002 2003 2004 2005 2006E

EBIT

DA

* ($

MM

)

0

10

20

30

40

50

60

2001 2002 2003 2004 2005 2006E

AEM

Eq

uit

y ea

rnin

gs

and

div

iden

ds

($M

M)

2 Does not include proportional EBITDA from affiliates

Affiliate EBITDA Growth2Ticona Core EBITDA Growth1

1 EBITDA as reported excluding equity earnings and dividends

51





52

> Innovation> New product development

> Polymer modification> New polymers for

existing applications / replacing of competing substrates

new

Pro

du

cts

Markets

>Translate existing polymers to new markets

new

> Penetration into existing markets and end-users

> Regional growth> Increasing market share and

pounds per vehicle

existing

exis

ting

RegionalPositioning

Development Process

AEM Employees Customer

Relationship

Comprehensive Approach to Growth

53

Global CAGR: 6.2%

Asia without Japan35%

Japan9%

Europe30%

Other4%

NA22%

2005: 8,100 kt 2010: 10,900 kt

Source: Global Insight, May 2006; SRI Thermoplastics Outlook 2005; Top Right ETP 2005; CE estimates; AMI EU 2005; Freedonia ETP in NA 2006

Asia without Japan31%

Japan10%

Europe32%

Other4%

NA23%

7%

3%

4%

1%

2%

1%

Asiawithout

Japan

Europe

NorthAmerica

60%40%Market

50%50%AEM

Rest of WorldAsia

2005 Regional Exposure

Well represented in fastest-growth region of the world

54

Development Processes: Foundation of Performance

Business Technology Plan> Sets 3-5 year objectives

> Innovation roadmap

Six Sigma (DFSS/DMIAC/Lean)

> Tools to resolve critical issues / improve streamline process

Gate Process

> Defines new product development process

> Identifies critical issues

>Reduce innovation

cycle time

> Improve quality and marketability of products

>Minimizedevelopment risk

> Improve efficiency of development

Processes add rigor to optimize and shorten development cycle

55

Accelerating growth with close customer relationships

> Key Drivers

= Growth Platforms

= Advanced Acetal

= Advanced High Temperature Resins

> Translation and application development – non automotive

> Continued automotive application innovation

Development Pipeline since 2004(Value of customer-driven projects in the pipeline)

Pipeline value has increased 40% since 2004

Growth platforms initiated

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

4Q 0

4

1Q 0

5

2Q 0

5

3Q 0

5

4Q 0

5

1Q 0

6

2Q 0

6

3Q 0

6

No

rmal

ized

Val

ue

40% Increase

56

Safety

Sensors enable

Intelligent

Transportation Systems

Energy Efficiency

LED in cars –

less energy for more

comfort and safety

Fuel Efficiency

Light weight –

Award winning

Celstran® Large Parts

AEM products positioned to meet evolving market requirements

≥ Media resistance

≥ Low moisture absorption

≥ Heat distortion

≥ High impact strength

≥ Excellent creep strength

≥ Electrical and die-electrical behavior

AEM product advantages

≥ Safety= Active Safety

Systems= Intelligent

Transportation Systems

≥ Environmental= Energy Efficiency= Fuel Efficiency= Weight

Reduction≥ Automation,

convenience

Requirements

57

Automotive Volume Growth

2001 2002 2003 2004 2005 2006E

Sale

s V

olu

me

(met

ric

ton

s)

Asia1

Europe

North America

1Including affiliates Polyplastics / excluding Kepco and Fortron

Well positioned regionally and increasing penetration per vehicle

6

40

18

12

Advanced Engineered Materials Advanced EngineeredMaterials type of resinsin lbs per vehicle

2001

Highest Current

2010E

2006E

58

Accelerated growth in non-automotive applications

Safety

Medical

Cookware

Industrial

Various Non-Automotive sensors, Lithium-Ion Batteries, Electric Shielding Applications

Filters for Water filtration and Air pollution

Performance Fibers for Ballistics, Protection, Engineering ropes

“Hot-Spots” in the kitchen –Industrial and private cooling devices

Dosage Systems, Tele-Medicine,Surgical devices, Sterile Packaging

LED LED applications in Automotive, Residential, Public Areas

59

0

2,000

4,000

6,000

8,000

10,000

12,000

2005 2006E 2007E 2008E 2009E 2010E 2011E

Incremental growth opportunity : LED

> Innovative applications for entire portfolio

> Use up to 90% less energy than current technologies

> Reduce carbon emission by ~200 MM tons

> 10x to 100x longer lifetime than traditional bulb technologies

> More reliable - no moving parts

> Less disposable waste materials

Global LED shipments in $ MM

14% CAGR

60

Incremental growth opportunity: well positioned to capture global sensor growth

0

10

20

30

40

50

60

70

80

90

1995 2000 2005 2010E 2015E

$ b

illio

n

US WE Japan Asia/Pacific ROW

World Sensor Demand

Process Management & Control Systems

Home Electronics and Security Systems

Robotics for Home and Industry

Chemical Plant Management & Control

Household Appliances & Electronics

Consumer & Appliances

Airline Industry Military

10% Asia and 6% global annual growth continues through 2010

61

EBITDA profile increase by ≥ $100 MM by 2010

≥2x GDP Growth through 2010

Achieve >2X GDP growth through:

> Innovation and new product development

> Translation of existing polymers to new markets

> Polymer modifications

> Current market penetration

2001 EBITDA

≥ $350 MM

2010 EBITDA Profile

$52 MM

2006E EBITDA

~$250 MM

62

Opening markets with new applications and offerings

2010 and beyond: new offerings enable market growth greater than 2x GDP

Expanding Products -New Offerings

Expanding Functionality

Expanding Opportunity

Focus on Polymer Chemistry > Improved melt strength

> Improved impact properties

> Toughness

> Improved chemical resistance

> Expanded processability

> Higher service temperatures

> Improved surface properties

> Large and small appliances

> Safety systems

> Portable water/irrigation

> Gears

> Transportation power systems

> Fuel systems

63


John O’DwyerPresident, Acetyl Intermediates, Celanese Asia

64









2006 Op. EBITDA Margin (est.):~29%3





PerformanceProducts




Global #1 Producer4

Acetic AcidVinyl Acetate

Acetic AnhydrideOther Acetyl Derivatives

Ibn Sina AffiliateMethanol (to be shut down in 2007)

1Includes oxo alcohol and polyol derivative divestiture; excludes pending APL acquisition2Does not include Other Operating Segment3Does not include the additional proportional EBITDA from equity affiliates4Source:Tecnon and SRI. (2005 estimates)

65

Acetyl Intermediates – An Enviable Franchise

> Differentiated intermediate business

> Continued strong industry dynamics

> Celanese advantages: significant and growing

66



= Favorable industry structure remains

= Above GDP growth



67

Celanese is a leader in an advantaged industry

New Capacity

Asset Location

Technology

Industry Structure

Cost Curve> Steep cost curve

> CE capital efficiency

> Overcapacity by 2008

> Feedstock dependent

> Readily available

> Fragmented

Top 2: ~15% of global market

> Relatively flat within a region

Ethylene

> Acetyls

> Acetyls

> Acetyls

> Acetyls

> Acetyls

Advantage

> Good outlook through at least 2009

> Close to customer

> Top technology not licensed

> Attractive

Top 2: >50% of global market1

Acetyls vs.

Acetyls: differentiated and less cyclical versus mainstream commodities1Source: Tecnon 2006

68

Favorable industry structure

> Global Leader

> GDP+ growth

> Top 4 suppliers own >50% of the global capacity1

VAM

BP 23%

Eastman3%

Other29%

Daicel3%

Lyondell5%

Sopo 6%

Nanjing6%

Celanese25%

> Global Leader

> GDP+ 1-2% growth

> Well structured Industry

> Top 2 suppliers own >50% of the global capacity1

Acetic Acid

Dairen11%

Others19%Kuraray

2%

Millennium6%

BP5%

Showa3%

Gohsei3%

DuPont6%

Sinopec7%

Dow8%

Nanjing4%

Celanese26%

Celanese: Integrated leader in Acetyls1Source: Tecnon 2006

69

1Source: CMAI, 1996-2008 average2Includes Acetex and Nanjing volume3Source: Tecnon 3Q 2006

0

50

100

150

200

1996199719981999200020012002200320042005

2006E2007E2008E

Ind

exed

Vin

yl A

ceta

te G

row

th k

ta

(199

6 =

100

)

0

50

100

150

200

250

19961997199819992000200120022003200420052006E2007E2008E

Ind

exed

Ace

tic

Aci

d G

row

th k

ta (1

996

= 1

00)

Celanese VAM Indexed Growth1996-2008E

Celanese Acetic Acid Indexed Growth1996-2008E

Market growth in excess of global GDP-Celanese growth in excess of the market

Global GDP1: 3.1%

Celanese Acetic Acid Growth CAGR: 6.3%2

Excluding Acetex acquisition: 5.1%

Market Acetic Acid Growth CAGR3: 4.6%

Celanese VAM Growth CAGR: 5.3%2

Excluding Acetex acquisition: 4.4%

Market VAM Growth CAGR3: 3.5%

70




= Increased demand

= Supply follows demand improvements


71

High utilization rates continue through 2009

0

2,000

4,000

6,000

8,000

10,000

12,000

2004 2005 2006E 2007E 2008E 2009E

KT

High CostLow CostDemand

1Based on effective capacity at 90% of nameplate (Celanese estimate)Source: Available Public Data

CapacityUtilization1(Nov, 2006): 91% 93% 92% 91% 91% 92%

Acetic Acid Supply-Demand Balance

72

Project delays continue to allow increasing demand to absorb new supply

Operational in 1Q 2006; expansion in July, 2006

Completed, explosion 3 days later

Start 2005150KTSOPO

Construction not yet begun; Expected mid-2009

Construction not yet begun

Start 2008 500KT BP/Sinopec

Commercial Production in 2Q 2006December 2005Early 2005 300KT BP/FPC

Construction under way; Pending Litigation; Startup expected Mid-2007

No sign of constructionStart 2005 200KT Wujing

Commercial Production in July, 2006Rumored to have started commissioning

Start 2005150KTFanavaran

Commercial Production mid-2005Operational mid-2005Early 2005150KTBP/Yaraco

Expected Late 2009

Website states Q3 2008

NA

Now commercializing

CE Investor Day 2005 Comments

Expected Mid- 2007; replaces high cost capacity

Late 2006200KTDaqing

Commercial Production in 1Q 2006June 2005200KTLunan

Construction not yet begun; Pending Litigation; Expected mid-2009

Start 2008425KTSipchem

Expected Late 20092009200KTHualu Hengsheng

CE Investor Day 2006 UpdatesOriginal DateCapacityCompany

73

Unmatched operating cost advantage -Nanjing widens the advantage

Source: Celanese estimates, available public data

2009E Acetic Acid Cost Curve based on Effective Capacity (kt)

0 2,000 4,000 6,000 8,000 10,000 12,000

By-prodAO Plus™/Leading Competition

Conventional MeOH /CO

High Cost Supply

Pampa (under review)

Celanese technology

74

Significant PTA growth: a key factor in driving >GDP acetic acid market growth

0

10.000

20.000

30.000

40.000

50.000

60.000

1990 1992 1994 1996 1998 2000 2002 2004 2006E 2008E 2010E

Thousand Tons

North America

South America

West Europe

East Europe

ME & Africa

Northeast Asia

China

11% CAGR through 2010

Source: Tecnon OrbiChem, 2006

PTA Capacity Growth

South/Southeast Asia

75

Strong VAM market fundamentals continue through 2009

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2004 2005 2006E 2007E 2008E 2009E

KT

Effective Capacity Demand

1Based on effective capacity at 94% of nameplateSource: Available Public Data

Celanese Nanjing300 kta

Capacity Utilization1: 98% 97% 93% 96% 95% 95%

Sipchem Saudi

300 kta

Vinyl Acetate Supply-Demand Balance

76

Asia ~ 450 kta

Significant opportunity for incremental VAM growth in Asia

Styrene-Acrylic

8%

Straight Acrylic

26%

Alkyd16%

Urethane4%

Vinyl46%

Styrene-Acrylic

25%

Straight Acrylic

19%

Urethane5%

Alkyd30% Other

1%

Vinyl20%

US ~ 650 kta Europe ~ 750 kta

Use of VAM-based architectural coatings in Asia is lagging the consumption trend in the rest of the world.

Translate existing technology to the fast-growing Asian marketSource: SRI Consulting, Kline Consulting

Styrene-Acrylic

45%

100% Acrylics

21%

Urethane10% Alkyd

12%Other

1%

Vinyl11%

77





= Structural changes

= Unsurpassed technology

= Earnings stability

= Significant organic growth

78

Acetex Acquisition

Recent structural changes have further increased Acetyl business focus

2000 2006

Acrylates Divestiture

Oxo Alchohol / Polyol Derivatives

Divestiture

Closure of Clear Lake Methanol

Start-up of Singapore Acetic

Acid

Closure of Final Acetaldehyde Based

Acetic Acid Unit

Advantaged Ethylene Contract

Advantaged Methanol Contract

Closure of Bishop

Methanol

Ensure industry-leading conversion costs

Improve geographic footprint

Upgrade the portfolio

Improve feedstock/raw material advantage

Ongoing Portfolio Adjustment Themes

79

Acetic Acid

VAMAnhydride

Methanol

Acetate Esters

Other Derivatives

The result: A strong acetyl intermediate portfolio

> Focused on core products with world class strength: Acetic Acid, Vinyl Acetate and Downstream Derivatives

> Reduced product line by 49 (current = 48) with oxo alcohol and polyol derivative divestiture

> Integrated businesses with synergies beyond raw materials

> Reduced volatility of earnings - not a conventional “commodity chemicals” business

Acetic Acid

VAM

Anhydride

Other Derivatives

Acetate Esters

Methanol

Polyols

Oxo Alcohols

Acrylates

2006E Revenue = $2.9B12000 Revenue = $2.9B

2

1Includes oxo alcohol and polyol derivative divestiture2Methanol production ceases in 2007

Non-differentiated IntermediatesSpecialty Products Differentiated Intermediates

80

Nanjing: advantaged operating costs and capital efficiency

Source: External benchmarking, Celanese analysis. 1Raw material pricing based on prevailing regional costs; Celanese estimates2 Middle East capital costs based on estimates to build similar facility in the Middle East

Variable Costs Fixed Costs Freight /Duty/ Distribution

CE Estimates of Acetic Acid Manufacturing Costs1

(CIF China)

Indexed: China Average Costs = 100%

0

50

100

150

200

North America Middle East Nanjing

Indexed: China Average Costs = 100%

0

50

100

150

200

Middle East 2 Nanjing

CE Estimates of Acetic Acid Capital Costs

Perc

ent

(%)

Perc

ent

(%)

81

Continued improvement to our technology positionAO Plus™ – Acetic Acid> Intellectual Property

= 647 patents currently in effect globally, additional 530 applications

= Actively protecting technology

> Commercial Status

= AO Plus implemented at the Acetex Pardies site

= Nanjing Acetic Acid plant on track for 2007

Vantage Plus™ - VAM> Intellectual Property

= Significant operating efficiency expected

= 563 patents in effect globally, additional 248 applications

> Commercial Status

= Vantage Plus technology successful at Cangrejera

= Global implementation planned

82

Earnings stability from structural improvements and market conditions

Q104 – Q306 Basic Chemical Earnings2

Q104 – Q306 Ethylene Pricing ($US/ton)1

Q104 – Q306 Methanol Pricing ($US/ton)1 > Southern Methanol contract

> Advantaged European methanol

> Significant captive product consumption

> Producer-type ethylene economics

> Ibn Sina dividends

> Global purchasing power

> Coal-based CO in Nanjing

Asia AverageWest Europe North America

1Source: CMAI 2Indicates earnings of the businesses as reported. Not a pro forma for Acetyl Intermediates

Q12004

Q22004

Q32004

Q42004

Q12005

Q22005

Q32005

Q42005

Q12006

Q22006

Q32006

Earn

ing

s ($

MM

)

400.00

600.00

800.00

1,000.00

1,200.00

1,400.00

1,600.00

Jan-2004 Apr-2004 Jul-2004 Oct-2004 Jan-2005 Apr-2005 Jul-2005 Oct-2005 Jan-2006 Apr-2006 Jul-2006

200

250

300

350

400

Jan-2004 Apr-2004 Jul-2004 Oct-2004 Jan-2005 Apr-2005 Jul-2005 Oct-2005 Jan-2006 Apr-2006 Jul-2006

83

SingaporeAcid = 600VAM = 210

510635725VAM

1,2004401,490Acetic Acid

ASIAEUROPEAMERICAS

FrankfurtVAM = 285

TarragonaVAM = 200

Bay CityVAM = 300

Clear LakeAcid = 1,200VAM = 310

CangrejeraVAM = 115Anhydride = 90

FranceAcid = 440VAM = 150Anhydride = 30

Under consideration

NanjingAcid = 600VAM = 300Anhydride = 100

New Locations

PampaAcid = 290Anhydride = 145

All values shown in kt per year

Earnings stability and growth from regional diversity

84

Merchant

Sales

Emulsions2H 2007

Acetic Acid(AO+™)

Mid-2007

Methanol

Coal basedCO

Ethylene

Vinyl Acetate(VAntage

Plus™)2008

GUR 2H 2008

(potential)

Acetic Anhydride

2H 2008

Acetyls Intermediates: >$500 million of incremental revenues by 2010

~37%

100%

~90%

~10%

100%

20%

~43%

100%

>$500MM incremental revenue for Acetyl Intermediates

>$100MM in incremental EBITDA from the Nanjing complex

85





Result:

> An enhanced global Acetyls leadership position driven by technology, optionality, and incremental growth

> Less volatile, more stable earnings with upside potential through 2009

86

Global Operational ExcellenceIntegral Part of Celanese Value PropositionJim AlderVP Operations and Technical

87

Global Operational Excellence

> Operational Excellence Culture: Recent developments

> Nanjing Competitive Advantages: Update

88

Strong track record of executionversus peer group

250

400470

760

0

250

500

750

1000

2001 2002 2003 2004

bp

s ve

rsu

s 20

00

Publicly available data, excluding Special Charges and Adjustments

100

230

0

150

300

2005 2006 YTD

bp

s ve

rsu

s 20

04

EBITDA Margin Improvement vs. Peers

DowEastman

ICI

Added

R&HFMCPPGICI

R & HFMCPPG

New Peer GroupRemoved

SolutiaRhodia

LyondellDSM

Methanex

DowEastmanSolutiaRhodia

LyondellMillennium

DSMMethanex

Initial Peer Group

EBITDA Margin vs. Initial Peer Group EBITDA Margin vs. Current Peer Group

89

Growth and productivity are now engrained in the Celanese culture

2001 2002 2003 2004 2005 2006 2007

Manufacturing Productivity

Productivity Beyond Manufacturing

Growth

No longer just projects or initiatives

Manufacturing

Beyond Mfg.

Six Sigma

Maintenance Excellence

Mfg. Digitization

Energy Excellence

One SAP

Mfg. Work Practices

Division SG&A Redesigns

Shared Services Redesigns

Purchasing & Pricing

Finance Redesign

Convergence

90

Improving safety and environmental performance with commitment to get better

0.0

0.5

1.0

2004 2005 2006 YTD

Best-in-class

OSHA Incident Rate

Lost Time Injury Rate

Best-in-class

0 20 40 60 80

% Reduction versus 2005

Injury Rate

Spills / Releases

Air Emissions

Waste

Energy

> Best-in-class safety performance 2010 Goals

> Environmental improvements (vs. 2001)= Spills and releases: - >70% =Waste generation: - 32% = Energy efficiency: - 26%= Greenhouse gas emissions: - >30%

Platform for sustainable development

91

Improve Reliability

97

100

2000 2001 2002 2003 2004 2005 2006YTD

% M

ech

anic

al A

vail

abil

ity

Streamline Maintenance

1

3

2000 2001 2002 2003 2004 2005 2006YTD

Cos

t / R

epla

cem

ent

Val

ue (%

)

Energy Efficiency

70

100

1H2003

2H2003

1H2004

2H2004

1H2005

2H2005

1H2006

% r

educ

tion

ver

sus

2001

(usa

ge p

er p

ound

)

Breadth and depth in manufacturing productivity improvement

Global Headcount

50

100

2000 2001 2002 2003 2004 2005 2006YTD

% r

edu

ctio

n v

ersu

s yr

-en

d

2000

(ex

M&

A)

~ 40% reductionvs. 2000

26% usage reduction vs. 20011

best-in-class

Near best-in-class1

best-in-class

Sustained best-in-class1

1 Data for Chemicals and Ticona Divisions

Investor Day 2005

Investor Day 2005

Investor Day 2005

Investor Day 2005

92

Will sustain high productivity in 2007 while meeting specific IPO commitment

Track record of productivity with fixed cost reduction slightly more than inflation

2001 2002 2003 2004 2005 2006E 2007Target

Fixed cost reduction Variable and energy improvement

Specific IPO commitment

0

400

2005 2006E 2007 Target

$ m

illio

ns

$400 million target

Overall Company Productivity*

>SG&A >Purchasing>Acquisitions & synergies = Vinamul and Acetex

>Methanol sourcing

average fixedcost inflation

* Does not include productivity from divested businesses

$ m

illio

ns

(yea

r-o

ver-

year

co

st s

avin

gs)

93

Realization of synergies enhance acquisitions

>Building capabilities to acquire businesses and increase value

>Synergies

= 2X initial estimates (3-5% sales)

= Captured 60 % in 2005 / 2006

? AO+ implementation in Pardies provides most of remainder

SG&A

Other

Manufacturing& Technical

Logistics

Achieved high end of 6-8% range presented at 2005

Investor Day

Platform for growth through future acquisitions

94

0 5 10 15 20Percent per year

Compounding

VAE Emulsions

GUR

Ticona

PPS

OperationalExcellence

driven

Platform for growth in existing assets

Track record of “no / low capital” expansions

0

400

800

1,200

1979 1984 1989 1994 1999 2004

tho

usa

nd

s o

f tp

a

Benefit from AO Plus™

“No / low capital” expansions Other Celanese products*

* Per year capacity increase for 1, 2 or 4 years between 2003 & 2006, requiring no or low capital (very small % of replacement value)

0 5 10 15 20Percent per year

1979 - 2004

1994 - 2004Technology and

Operational Excellence driven

“No / low capital” expansions Clear Lake Acetic Acid, 1979 – 2006

95

AceticAcidUnit

Utilities /Tank Farm

EmulsionsComplex

Acetic Anhydride Unit

GUR Unit(potential) FlareWarehouse

Vinyl AcetateMonomer Unit

Administration &Maintenance

Nanjing: Lowest cost acetyls complex in the world

≥ Integrated complex

≥ Leading technologies

≥ Advantaged feedstock

≥ Highly capital efficient

≥ EHS excellence

≥ Integrated IP protection

New announcement / confirmation since Investor Day 2005

Platform for growth in Asia

96

Nanjing: Highly integrated complexwith leading Celanese technologies

Merchant

Sales

Methanol

Coal basedCO

Ethylene

Acetic Anhydride

2H 2008

~37%

100%

~90%

~10%

100%

20% ~43%

100%

Emulsions2H 2007

Acetic Acid(AO+™)

Mid-2007

GUR 2H 2008

(potential)

Vinyl Acetate(VAntage Plus™)

2008

Projected $600 - $700 million in incremental sales by 2010

97

Coal gasification in China: low cost and reliable

Nanjing: Advantaged feedstockposition with coal-based CO

Coal Gasification≥ Low Cost= Significant cost advantage

> 25% advantage versus natural gas (typical alternative feedstock)Synergies from CO and methanol co-production

≥ Reliable= ~50% of the 55 coal gasification

units in the world are in China= Redundant critical systems

enhance reliability

1 From William Preston presentation at Gasification Technologies Council in 2001

Coal - waterslurry

1

98

Leveraged technology and design improvements plus low cost in China

Nanjing: Lowest capital acetyls complex in the world

For

com

par

iso

n

600 kta 210 kta210 kta

600 kta

Acetic Acid Unit Vinyl Acetate Unit

For

com

par

iso

n

1Actual cost escalated to 2006$ at 3% / year 2Actual cost escalated to 2007$ at 3% / year

21USGC Singapore

600 kta

Nanjingactual

Rel

ativ

e ca

pit

al c

ost

%

USGC Singapore

300 kta

Nanjingprojected

Rel

ativ

e ca

pit

al c

ost

%

99

Nanjing: Committed to achieving excellence in EHS

> Safety

= Integrating Celanese standards and culture

= No lost time injury to-date (> 3 million man-hours)

> Environmental

= US or China standards, whichever greater

100

Nanjing: Integrated approach to protecting our IP in China

Design, Engineering, & Construction≥ Process design developed outside China

≥ Selected equipment purchase outside China

≥ Security check on key contractor personnel

Operation Including Information Control≥ Separation of jobs, limited rotation

≥ Selected critical lab analyses in Singapore

≥ Biometric access to IP sensitive areas

Hiring Policy & Practices≥ Criteria includes company specific background

≥ Employment contracts with IP language

≥ 3-5 year bonding of critical employees

Litigation Track Record≥ 100% success rate

≥ > $100 million recovery (5 lawsuits)

≥ 3 others pending litigation

Biometrics

Critical Equipment& Design

What is IP?

101

Global Operational Excellence is anintegral part of Celanese value proposition

> 6-year track record vs. peers

> Engrained performance culture

> Well positioned to reach top quartile= Ongoing productivity = Continuing growth in existing

assets= Synergies to enable future

acquisitions= Rapid growth in Nanjing

Goal to reach top quartile by 2010: Requires 120 bps annual improvement versus peer group

Operating EBITDA Margin vs. Peers

-2.2

-1.2

0.1

3.7

-3.0

-2.0

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

2004 2005 Q3 / YTD Top Quartile

DowEastman

ICI

R & HFMCPPG

Peer Group

102

Building a Case for ValueJohn J. Gallagher IIIExecutive Vice President &Chief Financial Officer

103

Agenda

> 2006 Update

= Oxo Alcohol/polyol derivatives divestiture

= Ownership and Governance Changes

= Full-year Guidance

> Case for Improved Value Creation

= Strong Underlying Results

= Value of the Affiliates

= Efficient use of cash

= Performance Relative to Peer Group

104

Oxo-alcohol and polyol derivatives businesses divestiture

E-Oxo Joint Venture (50%-50%) with Degussa

Celanese Assets

~$16(CE portion ~$8MM)

~$45 (includes impact from E-Oxo JV)

Net Income ($MM)

~$30~$70(~$78 including $8MM impact from E-Oxo JV)

EBITDA ($MM)

XXXOlefin Derivatives

XXPolyols

180

~$700

X

Oberhausen

1,100Employees

~$720Sales ($MM)

XXOxo-alcohols and Esters

MarlBishopBay CityOberhausenLocation

Oxo-alcohol Divestiture Details - 2006E

1Net proceeds of ~$450-475MM after charges (60% e-oxo charges, 30% taxes and pensions, 10% personnel and other costs)2Based on exchange rate of $1.32/€ as of December 11, 2006

Estimated sale price of €480 million (~$630 million2)

105

Private Equity,

15%Other, 85%

Private Equity,

60%Other, 40%

Broader ownership position and independent governance

> Average Daily Volume1 1,333,000

> Value of float3 $3.1B

> 11 board members, 6 independent

> Majority independent governance

Current December 12, 2005

> Average Daily Volume1 385,000

> Value of float2 $1.1B

> 11 board members, 4 independent

> Majority Blackstone board governance

Source: SEC filings1 90-day trailing average volume2 Based on CE close as of December 12, 20053 Based on CE close as of December 8, 2006

106

$936 up 17%$322 up 28%Operating EBITDA1

$2.23$0.79Adjusted EPS

$5,000 up 11%$1,685 up 10%Sales

9 monthsended

9/30/063rd Qtr 2006(in $ MM)

Continued strength in 2006

FY 2006 Guidance

> Adjusted EPS guidance remains at $2.70 to $2.80/share

= Full-year 2006 at high end of original estimates

= Easing raw material costs

= Ticona volume growth in Europe

= Continued strong global demand for acetyl products

> Pro-forma including Oxo alcohol divestiture: $2.45 to $2.55/share

YTD 2006

1Does not include ~$75MM YTD of proportional EBITDA from equity affiliates

107

Agenda

> 2006 Update

= Oxo Alcohol/polyol derivatives divestiture

= Ownership and Governance Changes

= Full-year Guidance

> Case for Improved Value Creation

= Strong Underlying Results

= Value of the Affiliates

= Efficient use of cash

= Performance Relative to Peer Group

108

Strong underlying results continue into 2007

> Advanced Engineered Materials: Increase applications and volume

> Consumer and Industrial Specialties: Earnings growth from:

= Continued Acetate restructuring and APL acquisition impact

= Revitalization and growth for Industrial Specialties

> Acetyls: Strong supply-demand profile, above market growth continues

> Productivity: Successes continue to more than offset inflation

0

200

400

600

800

1,000

1,200

1,400

2000 2001 2002 2003 2004 2005 2006E

EBIT

DA

($M

M)

Operating EBITDA

15% CAGRAdjusted EPS: $2.45 – $2.55

2006 Pro-forma

Adjusted EPS: $2.60 – $2.90Operating EBITDA: $1,130 – $1,200 million

2007 Outlook1

Pro-forma impact of oxo alcohol and polyol derivative divestiture

1Includes oxo alcohol and polyol derivative divestiture

109

$215

$75

$20

$40

$10

$5

2006E Additional Proportional EBITDA($MM)

Affiliates continue to deliver value

$75TOTAL

$20CIS30-31%Acetate China Affiliates

$55Acetyl Intermediates25%Ibn Sina

2006E Cash Dividends ($MM)Celanese Group

Celanese OwnershipAffiliate

Cost Affiliates$65TOTAL1

$10Acetyl Intermediates<50%Infraserv

$25AEM45%Polyplastics

$15AEM50%Korean Eng. Plastics

$15AEM50%Fortron Industries

2006E Equity Earnings ($MM)Celanese Group

Celanese OwnershipAffiliate

Equity Affiliates

2006E Recognized Operating EBITDA1 = $140MM 1Includes impact from E-Oxo JV divestiture (2006 E of $10MM in reported and $20 in proportional equity earnings from E-Oxo)

Total EBITDA

from Affiliates

110

Strong cash flow generation continues

> Operating Cash Flow ~$680

> Capital Expenditures ~($280)

> Free Cash Flow ~$400

> Operating Cash Flow ~$700

> Capital Expenditures ~($250)

> Free Cash Flow ~$450

2006E ($MM)

CAG Squeeze out: ~($80)Pending APL acquisition: ~($110)Oxo alcohol divestiture (net): ~$450-$475Total ~$260-$285

1Includes oxo alcohol and polyol derivative divestiture and pending APL acquisition

Investing Activities ($MM)

2007E1 ($MM)

111

Efficient use of cash

> Invest in our business to fuel growth and increase our technology advantages

> Continue to look for bolt-on accretive acquisitions

> Evaluate capital structure opportunities

= De-leverage balance sheet

= Return to shareholders

112

Continue to invest in growth and innovation

> AEM: Customer-driven new polymers and applications

> CIS: Market-driven innovation and enhanced customer focus

> Acetyl Intermediates: Product-driven innovation to expand Acetyl use

> Productivity: Process-driven technology improvements

0

50

100

150

200

250

300

2000-2004 avg.

2005 2006E 2007E Future

Cap

ital

Exp

end

itu

res

($ M

M)1

Revenue Increase, Cost Reduction

Maintanence, EHS

Depreciation and Amortization

2006 - 2007 increase driven by Nanjing complex

1 Excludes Fraport expenditures. Includes oxo alcohol and polyol derivative divestiture; does not include impact from APL acquisition

Capital ExpendituresInnovation

Range

113

Continue to look for bolt-on acquisitions; leverage strong integration skills

> Broader customer mix and reach

> Brings Flake integration in Europe

> Adds film business

> Increases Acetyl internal consumption

1Assumes GBP= $1.872Based on total revenue at the time of the acquisition

> Acquisition cost: $~110mm1, debt free, includes working capital

> 2005E revenue: ~$230mm1

> EBITDA margin: high single digit -low double digit historically

Financial Impact Strategic ImpactPending APL Acquisition

>Leverage our skills and capabilities to acquire businesses, successfully integrate and increase value

>Identify and capture synergies

=Example: Vinamul and Acetex acquisitions captured synergies totaling 8% of revenue2

114

> Celanese reached an agreement with Frankfurt airport operator (Fraport)

> Fraport will compensate Celanese to relocate Ticona’s Kelsterbach site

> Transaction subject to Fraport’s AGM approval and tax neutral treatment

> Allows for adequate time to relocate by mid-2011 with no disruption to Ticona’s business

> No significant implications on Celanese’s debt covenants/indentures

€ 650 millionTotal

€ 100 million2011

€ 130 million2010

€ 200 million2009

€ 200 million2008

€ 20 million2006

AmountYear

Frankfurt Airport Settlement

115

$1,613

$964

$409 $463

Senior CreditFacility

SeniorSubordinated

Notes

Discount Notes Other

Evaluate Capital Structure Opportunities

Restricted Payments ~$360M

Restricted Payments ~$520M

Weighted Avg. Cost of Debt8.2%

Outstanding Shares2

158.6 MM Basic12.0 MM Preferred

2006 Dividend Payment

$0.16 / share

1 Debt and equity information based on 3Q 2006 actuals2 Does not include option grants

Equity1Debt1

2006 Total Debt - $3,449 MM

$MM

Permitted Acquisitions

$500M

Restricted Payments

~$65M

116

Consistent performance with peer group; valuation still trails

11.513%13%FMC

12.715%15%PPG

13.9Average

8.516%25%Celanese

13.217%13%Eastman

9.819%11%Dow

14.210%24%ICI

Average

12%

2005 ROTC1

15%

% sales in AsiaGlobal Presence

2007E P/E Multiple2

11.5

14.7Rohm and Haas

Peer Comparison

Limited SignificantSource: Company 10K’s, Celanese analysis1Source Value Line: Return on Total Capital ((Net Income + ½ long-term interest)/ (shareholder equity plus total debt))22007 EPS estimates per Thompson financial. Stock price as of December 8, 2006.

Top Quartile

117

0

2

4

6

8

10

12

14

P/E Top Half PeerGroup

P/E Bottom HalfPeer Group

Celanese

Valuing CelaneseStock Price based on Celanese 2007 EPS

$2.60 – 2.90

> Majority independent board of directors> Strong operating performance continues> Strategic value of affiliates> Efficient use of shareholder cash to drive incremental value

P/E Multiple (based on 2007E P/E)1

1Source: Thompson Financial 2 As of December 8, 2006

$30-33

$36 - 40

Significant shareholder value upside exists for Celanese

Current Share price: $22.992

118

Appendix

119

2007 Guidance

> 2006 Pro forma Adjusted EPS

= $2.45 to $2.55

> Adjusted EPS

= $2.60 to $2.90

> Operating EBITDA

= $1,130 to $1,200 million

> Cash Taxes

= $180 – 200 million

> Capital Expenditure / Depreciation and Amortization

= Approximately $280 million

> Net cash interest expense

= $170-$190 million

> Estimated Tax Rate for Adjusted EPS of 28%

120

Reg G: Reconciliation of Diluted Adjusted EPS

Table 6

Adjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure

(in $ m illions, except per share data) 2006 2005 2006 2005Earnings from continuing operations before tax and minority interests 181 77 490 216 Non-GAAP Adjustm ents: Other charges and other adjus tm ents * 6 40 41 101 Refinancing cos ts - - - 102 Adjusted earnings from continuing operations before tax and minority interests 187 117 531 419 Incom e tax provis ion on adjus ted earnings ** (47) (28) (143) (102)Minority interes ts (2) (3) (3) (41)Earnings from discontinued operations , net of tax and adjus tm ents *** (2) (2) (3) 6 Preferred dividends (3) (3) (8) (7)Adjusted net earnings available to common shareholders 133 81 374 275Add back: Preferred dividends 3 3 8 7Adjusted net earnings for diluted adjusted EPS 136 84 382 282

Diluted shares (millions)Weighted average shares outs tanding 158.6 158.5 158.6 158.5Assum ed convers ion of Preferred Shares 12.0 12.0 12.0 10.9 Assum ed convers ion of s tock options 0.6 1.4 1.0 0.5 Total diluted shares 171.2 171.9 171.6 169.9Adjusted EPS from continuing operations 0.80 0.50 2.25 1.62

Earnings per com m on share from discontinued operations , net of adjus tm ents (0.01) (0.01) (0.02) 0.04Adjusted EPS 0.79 0.49 2.23 1.66

* See Table 7 fo r details

** The U.S. GA A P tax rate fo r the three mo nths ended September 30, 2006 is 40% and nine mo nths ended September 30, 2006 is 32%. The co mpany’s adjusted

tax rate fo r the three mo nths ended September 30, 2006 is 25% and the resulting year to date adjusted tax rate is 27%. The difference between o ur US GA A P

taxes and o ur adjusted taxes are due to : (i) the favo rable impact o f purchase acco unting o n o ur net o perating lo sses ($ 23 millio n), and (ii) the eliminatio n o f

discrete tax items no t related to the current perio d ($ 4 millio n).

*** Do es no t include gain o n sale related to disco ntinued o peratio ns.

Nine Months EndedSeptember 30,

Three Months EndedSeptember 30,

121

Reg G: Reconciliation of Net Debt

Table 5

Net Debt - Reconcilation of a Non-U.S. GAAP MeasureSeptember 30,December 31,

(in $ m illions) 2006 2005Short-term borrowings and current ins tallm ents of long-term debt - third party and affiliates 205 155Long-term debt 3,244 3,282Total debt 3,449 3,437Less : Cash and cash equivalents 513 390Net Debt 2,936 3,047

122

Reg G: Reconciliation of Other Charges and Other Adjustments

Table 7

Reconciliation of Other Charges and Other Adjustments

Other Charges: *

(in $ m illions) 2006 2005 2006 2005Em ployee term ination benefits - 8 11 16 Plant/office closures - 13 - 15 Total restructuring - 21 11 31 Asset im pairm ents - 1 - 25 Insurance recoveries associated with plum bing cases - - (3) (4)Other - 2 4 37 ** Total - 24 12 89

Other Adjustments: ***

(in $ m illions) 2006 2005 2006 2005Executive severance & legal cos ts related to Squeeze-Out 5 - 28 - Favorable im pact on non-operating foreign exchange pos ition - - - (14)Advisor m onitoring fee - - - 10 Purchase accounting for inventories 16 16 Bus iness Optim ization 4 - 4 - Other (3) - (3) - Total 6 16 29 12

Total other charges and other adjustments 6 40 41 101 * Previously described as Special Charges** Termination of advisor monitoring fee*** These items are included in net earnings but not included in other charges.

September 30, September 30,

Three Months Ended Nine Months Ended

Three Months Ended Nine Months Ended

September 30, September 30,

123

Reg G: Reconciliation of Operating EBITDATa

ble

1

Seg

men

t Dat

a an

d R

econ

cilia

tion

of O

pera

ting

Pro

fit (L

oss)

to O

pera

ting

EBIT

DA

-

a N

on-U

.S. G

AA

P M

easu

re.

(in $

mill

ions

) 20

0620

0520

0620

05N

et S

ales

Che

mic

al P

rodu

cts

1,20

61,

091

3,55

83,

203

Tec

hnic

al P

olym

ers

Tico

na23

021

269

167

4 A

ceta

te P

rodu

cts

171

162

514

499

Per

form

ance

Pro

duct

s41

4613

814

0 O

ther

Act

iviti

es *

6955

198

75 I

nter

segm

ent e

limin

atio

ns(3

2)(4

0)(9

9)(9

8)To

tal

1,68

51,

526

5,00

04,

493

Ope

ratin

g P

rofit

(Los

s) C

hem

ical

Pro

duct

s17

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147

543

6 T

echn

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Pol

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116

62 A

ceta

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cts

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7524

Per

form

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Pro

duct

s10

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41 O

ther

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es *

(40)

(41)

(147

)(1

57)

Tota

l20

095

562

406

Equi

ty E

arni

ngs

and

Oth

er In

com

e/(E

xpen

se) *

* C

hem

ical

Pro

duct

s22

3647

44 T

echn

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ymer

s Ti

cona

1315

4243

Ace

tate

Pro

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s-

-

21

2

Per

form

ance

Pro

duct

s-

(2

)

1

(2)

Oth

er A

ctiv

ities

*11

(2)

98

Tota

l46

4712

095

Oth

er C

harg

es a

nd O

ther

Adj

ustm

ents

***

Che

mic

al P

rodu

cts

319

1023

Tec

hnic

al P

olym

ers

Tico

na-

4

(4)

25 A

ceta

te P

rodu

cts

-

9

-

10

Per

form

ance

Pro

duct

s-

1

-

1

O

ther

Act

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es *

37

3542

Tota

l6

4041

101

Dep

reci

atio

n an

d A

mor

tizat

ion

Expe

nse

Che

mic

al P

rodu

cts

3945

118

118

Tec

hnic

al P

olym

ers

Tico

na16

1348

42 A

ceta

te P

rodu

cts

63

1821

Per

form

ance

Pro

duct

s3

411

10 O

ther

Act

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es *

6

5

1

8

9

Tota

l70

7021

320

0

Ope

ratin

g EB

ITD

A C

hem

ical

Pro

duct

s23

420

165

062

1 T

echn

ical

Pol

ymer

s Ti

cona

6650

202

172

Ace

tate

Pro

duct

s29

1611

457

Per

form

ance

Pro

duct

s13

1655

50 O

ther

Act

iviti

es *

(20)

(31)

(85)

(98)

Tota

l32

225

293

680

2*

Oth

er A

ctiv

ities

prim

arily

incl

udes

cor

pora

te s

ellin

g, g

ener

al a

nd a

dmin

istra

tive

expe

nses

a

nd th

e re

sults

from

AT

Pla

stic

s an

d ca

ptiv

e in

sura

nce

com

pani

es.

** In

clud

es e

quity

ear

ning

s fro

m a

ffilia

tes

and

othe

r inc

ome/

(exp

ense

), wh

ich

is p

rimar

ily d

ivid

ends

f

rom

cos

t inv

estm

ents

.

*** E

xclu

des

adju

stm

ents

to m

inor

ity in

tere

st, n

et in

tere

st, t

axes

, dep

reci

atio

n, a

mor

tizat

ion

and

disc

ontin

ued

oper

atio

ns.

Thre

e M

onth

s En

ded

Sep

tem

ber

30,

Nin

e M

onth

s En

ded

Sep

tem

ber

30,

124

Reg G: Reconciliation of 2000 to 2005 Operating EBITDA

Total Celanese 2000 2001 2002 2003 2004 2005GAAP Operating Profit 78 -470 162 133 130 561Depreciation & Amortization 364 372 300 328 256 286Special charges & other adjustments 27 472 -1 6 340 57Equity earnings 18 12 23 39 37 61Cost dividends 40 41 35 53 38 88EBITDA as shown 528 427 519 559 801 1053

Ticona 2000 2001 2002 2003 2004 2005GAAP Operating Profit 90 -13 23 136 19 60Depreciation & Amortization 69 68 60 63 64 60Special charges & other adjustments -27 -8 8 -97 67 31Equity earnings 14 3 15 31 22 48Cost dividends 2 2 2 2 4 5EBITDA as shown 147 52 108 134 176 204

Performance Products 2000 2001 2002 2003 2004 2005GAAP Operating Profit 31 35 50 -49 29 51Depreciation & Amortization 33 28 7 8 12 13Special charges & other adjustments 6 4 0 106 20 1Equity earnings 0 0 0 0 1 0Cost dividends 0 0 1 1 3 -1EBITDA as shown 69 67 58 66 65 64

125

Peer comparison ranking

Global Positioning

35-40% Exposure to one region

Equal Exposure to the main regions

Greater than 60% exposure to one region

>50-60% exposure to one region

>40-50% exposure to one region

Economy & Finance

celanese investor_day_2006_complete_presentation