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INVESTOR RELATIONS: Budget & Business Plans (2010 – 2014). Release Date: 21 st July, 2010. Disclaimer & General Notes. Industries Qatar QSC:

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INVESTOR RELATIONS:

Budget & Business Plans (2010 – 2014)

Release Date: 21st July, 2010

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Disclaimer & General Notes

  • Industries Qatar QSC:
  • The companies in which Industries Qatar QSC directly and indirectly owns investments are separate entities. In this presentation, “IQ” and “the group” are sometimes used for convenience in reference to Industries Qatar QSC.
  • Disclaimer:
  • This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Industries Qatar QSC. All statements other than statements of historical fact are deemed to be forward-looking statements, being statements of future expectations that are based on current expectations and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, operations and business performance or events impacting the group to differ materially from those expressed or as may be inferred from these statements.
  • There are a number of factors that could affect the realisation of these forward-looking statements such as: (a) price fluctuations in crude oil and natural gas, (b) changes in demand or market conditions for the group’s products, (c) loss of market share and industry competition, (d) environmental risks and natural disasters, (e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) political risks. As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements contained herein. All forward-looking statements contained in this presentation are made as of the date of this presentation, as marked on the Cover page.
  • Industries Qatar QSC, its Directors, officers, advisors, contractors and agents shall not be liable in any way for any costs, losses or other detrimental effects resulting or arising from the use of or reliance by any party on any forward-looking statement and / or other material contained herein. Industries Qatar QSC, its subsidiary, joint ventures and associated companies are further in no way obliged to update or publish revisions to any forward-looking statement or any other material contained herein which may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reason whatsoever. Industries Qatar QSC does not guarantee the accuracy of the historical statements contained herein.
  • General Notes:
  • IQ’s accounting year follows the calendar year. No adjustment has been made for leap years.
  • Where applicable, all values refer to IQ’s share.
  • Values expressed in QR billions and percentages have been rounded to 1 decimal point. All other values have been rounded to the nearest whole number.
  • Values expressed in US $’s have been translated at the rate of US $1 = QR3.64.

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |2

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Budget & Business Plans: IQ Group

  • Revenue to pass QR20bn by 2014
  • Petrochemical 29.6%, Fertiliser 23.6%, Steel 46.8
  • Revenue CAGR of 16.7%
  • Profitability to remain flat post 2009
  • EPS growth from QR8.86 to QR14.39
  • Minimal price growth expected
  • CAGR of 6.2%
  • Volume growth from new projects
  • CAGR of 10.5%

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |3

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Capital Projects

  • Fertiliser Segment:
  • Qatar Melamine (QR0.5bn; Q2, 2010)
  • Urea-1 Revamp (QR0.3bn; Q1, 2010)
  • QAFCO V (QR9.6bn; Q2, 2011)
  • QAFCO VI (QR1.7bn; Q3, 2012)
  • Petrochemical Segment:
  • RLOC / Qatofin (QR2.6bn; Q2, 2010)
  • LDPE-3 (QR1.8bn; Q1, 2012)
  • Steel Segment:
  • Upgrade DR 1/ EF 1 (QR0.6bn; Q3, 2011)
  • New Project – Dubai (QR0.2bn; Q4, 2011)
  • Phase 2 Expansion (QR4.0bn; Q3, 2012)
  • Phase 3 Expansion (QR5.0bn; Q3, 2014)
  • Others (QR0.6bn; Q2/Q4, 2012)

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |4

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Budget & Business Plans: Petrochemicals

Budget & Business Plans:

  • Revenue of QR6.2bn expected by 2014
  • Revenue CAGR of 14.2%
  • Profitability to remain flat post 2009
  • Base price inflation of ≈5% pa expected
  • Significant volume growth expected
  • Qatofin (LLDPE), LDPE-3 (LDPE, Sulphur, LPG & Gasoline)

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |5

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Budget & Business Plans: Fertiliser

Budget & Business Plans:

  • Revenue of QR4.9bn expected by 2014
  • Revenue CAGR of 14.7%
  • Profitability flat after 2010
  • Urea price inflation of ≈2% pa expected
  • Significant volume growth expected
  • Qafco V / Qafco VI (Urea), Melamine

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |6

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Budget & Business Plans: Steel

Budget & Business Plans:

  • Revenue of QR9.8bn expected by 2014
  • Revenue CAGR of 19.7%
  • Profitability improvement after 2011
  • Steel price inflation of +7% pa expected
  • Significant volume growth expected
  • Upgrade, Phase 2 / 3, Dubai Project and Others

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |7

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About Industries Qatar QSC

Industries Qatar QSC:

Industries Qatar QSC (“IQ”) was incorporated as a Qatari joint stock company on April 19, 2003. The business operations of the company comprise the direct holding of shares in the following subsidiary and joint venture companies: (i) Qatar Steel Company QSC (“QS”), a wholly-owned subsidiary, engaged in the manufacture and sale of steel billets and reinforcing bars; (ii) Qatar Petrochemical Company Limited QSC (“QAPCO”), a joint venture owned 80% by IQ, engaged in the production and sale of ethylene, low-density polyethylene (“LDPE”), linear low-density polyethylene (“LLDPE”) and sulphur; (iii) Qatar Fertiliser Company SAQ (“QAFCO”), a joint venture owned 75% by IQ, engaged in the manufacture and sale of ammonia and urea; (iv) Qatar Fuel Additives Company Limited QSC (“QAFAC”), a joint venture owned 50% by IQ, is engaged in the production and export of methanol and methyl-tertiary-butyl-ether (“MTBE”); and (v) Fereej Real Estate Company, a joint venture owned 34% by IQ, engaged in investing in residential and commercial buildings, and the provision of facilities management and construction project management services.

Qatar Petroleum, the largest shareholder, provides all of the head office functions for IQ through a comprehensive service directive. The operations of the subsidiaries and joint venture remain independently managed by their respective Boards of Directors and senior management teams.

Fereej Real Estate Company

Incorporated in 2008 as a joint venture, Fereej is currently owned by IQ (34%), Qatar Real Estate Investment Company (33%) and Al-Koot Insurance And Re-Insurance Company (33%). The company’s activities are focused on investing in residential and commercial buildings, and the provision of facilities management and construction management services.

Qatar Fertiliser Company SAQ

Qatar Fertiliser Company SAQ (“QAFCO”) is the world’s largest single site producer of urea and ammonia. It was incorporated in 1969 and is currently a joint venture between Industries Qatar QSC (“IQ”) [75%], Fertiliser Holdings AS (10%) and Yara Netherland BV (15%). QAFCO is engaged in the manufacture and sale of ammonia and urea, which are sold primarily in the Indian sub-continent, and urea formaldehyde condensate.

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |8

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About Industries Qatar QSC

Qatar Petrochemical Company Limited QSC

Incorporated in 1974 as a joint venture, Qatar Petrochemical Company Limited QSC (“QAPCO”) is currently owned by Industries Qatar QSC (“IQ”) [80%] and TOTAL Petrochemicals (France) [20%]. QAPCO has two joint ventures, Qatofin Company Limited QSC and Ras Laffan Olefins Cracker Company, and two associated companies, Qatar Vinyl Company Limited QSC and Qatar Plastic Products Company WLL.

QAPCO was established with the aim of utilising the associated and non-associated ethane gas from petroleum production. QAPCO is one of the leading producers of ethylene and variable grade low-density polyethylene (“LDPE”) [under the brand name “Lotrene”] in the Middle East, with sulphur being its by-product. The LDPE is marketed in over 75 countries, with the main markets being the Middle East, Far East, Africa and the Indian sub-continent. A substantial part of the ethylene produced is used in the LDPE production process, with the remainder being supplied to QAPCO’s associate, QVC, to meet its feed requirements. In 2009, QAPCO commenced production of linear low-density polyethylene (“LLDPE”).

Qatar Fuel Additives Company Limited QSC

Incorporated in 1991 as a joint venture, Qatar Fuel Additives Company Limited QSC (“QAFAC”) is currently owned by Industries Qatar QSC (“IQ”) [50%], OPIC Middle East Corporation [20%], International Octane Limited [15%] and LCY Middle East Corporation [15%]. The company was established as part of Qatar’s strategic plan to diversify its petrochemical base and expand its downstream industries. It is recognised as a producer and exporter of high quality methanol and methyl-tertiary-butyl-ether (“MTBE”). Its primary markets are the Far East, Europe and the Gulf region.

Qatar Steel QSC

Qatar Steel QSC (“QS”) was the first integrated steel producing company in the GCC region and is Qatar’s sole steel producer. Originally incorporated in 1974 as a joint venture between the State of Qatar, Kobe Steel and Tokyo Boeki, QS was subsequently wholly-acquired by Industries Qatar QSC (“IQ”) in 2003. QS is engaged in the manufacture and sale of steel bars, billets and reinforcing bars, which are sold primarily in the local and GCC markets.

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |9

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For further information, Industries Qatar can be contacted as follows:

  • Email: iq@qp.com.qa
  • Telephone: (974) 4430-8681
  • Fax: (974) 4429-3750
  • Mail: PO Box 3212, Doha, State of Qatar
  • Please refer to www.iq.com.qa for the latest information, publications, press releases and presentations about Industries Qatar and the IQ group.

INDUSTRIES QATAR|Budget & Business Plans (2010 – 2014) |10