Coal Tar Pitch Markets in Europe & North America Michael Sutton VFT Canada Inc. Presented at 12 th Annual Met Coke

1. Coal Tar Pitch Markets in Europe & North America Michael Sutton VFT Canada Inc. Presented at 12th Annual Met Coke World Summit Chicago, Illinois October 22-24, 2008

2. Agenda • North American Coal/Coke/Tar/Pitch Process • North American Coke & Coal Tar Production • Coke Plant Locations • Tar Distilled • Distillation Plant Locations • North American Coal Tar Pitch Markets • Aluminum Industry • Graphite Electrode Industry • Pavement Coatings • Coal Tar Pitch Balance – North America & Europe • Creosote/Naphthalene • Development of New Products • Participation in Growing Markets – Aluminum Industry

3. The Coal/Coke/Tar/Pitch Process Coking Coal Naphthalene Oils D I S T I L L A T I O N Creosote Carbon Black Feedstock Coke Ovens CoalTar Coke Aluminum Smelters Graphite Electrodes Pitch Steel Production Specialty Carbon Products Pavement Coatings Refractories

4. North American Coke Production Capacity& Coal Tar Production – 2007

5. North American Coke Plants

6. North American Tar Distilled Data Source: ACCCI

7. North American Tar Distillers VFT CANADA KOPPERS (3) COOPERS CREEK TANGENT RAIL (2) LONE STAR SPECIALTY

8. North American Coal Tar Distillation (2007)

9. North American Coal Tar Pitch Markets

10. North American Coal Tar Pitch Markets

11. North American Coal Tar-Based Refined Tar Demand Data Source: ACCCI

12. North American Pitch Balance 2007

13. European Pitch Balance 2007 Note: Ukraine & Russia excluded

14. Canada & U.S. Creosote Consumption

15. North American Naphthalene Consumption Data Source: ACCCI

16. European Naphthalene Consumption

17. Development of New Products • Low PAH Pitch – Soderberg Aluminum Smelters • Carbores – Specialty Graphite and Refractories More environmentally-friendly pitch containing lower PAH’s (BaP)

18. Participation in Growing Markets Aluminum– Main driver for world-wide pitch demand % Aluminum 85 Graphite 10 Others 5 100 - China (increased domestic demand) - Middle East - Iceland - Canada Growth Areas Low energy costs

19. Primary Aluminium Production (Tmt)

20. Primary Aluminium Capacity (Tmt)

21. New Tar Production • China • Russia • Brazil North American and European tar distillers are involved/pursuing optionsin these markets.

22. The Future For North American Tar Distillers ? STEEL OILS COAL COKE BY-PRODUCTS RECOVERED TAR PITCH COKE GASES NON-RECOVERY OF BY-PRODUCT CO-GENERATION