PET Packaging BusinessValue Enhancement

Sunil MarwahPackaging Business

1.3X

2X

1X

2

IVL’s Packaging Business DNA

Avoid Conflict with prime PET customers

High PET growth prospects

IVL’s Torchbearer in ‘Underserved PET markets’ in EMEA & ASEAN

Contribute to IVL Profitability

Target Value Structure

2014 2018

Mkts Covered 5 10

Volume KTRevenue $M

69165

200450

Current Value Structure

2010 2013E

Mkts Covered

1 3

Volume KTRevenue $M

1944

49121 2014 - 2018

Fragmented PET Converting Industry

3

Global Packaging Trends

Lifestyle Changes

Safe & Convenient

•Growing middle class

•Young Population

•Access to consumer credit

Increased Household Consumption

•Rise of single serve packaging

•Convenience foods in Urban areas

•Affordable access to products in rural areas

Changing Consumer tastes & preferences

•Organized retail and move to Super & Hyper markets leads to increase in demand for convenience packaging

•Product innovation & Light weighting

Retailing format

Product Safety•Rising hygiene standards•Anti counterfeiting

4

Global Beverage Consumption & GrowthSource : Canadean / Rexam report

CSD

Packaged water

RTD Tea

Juice & nectors

Sports drinks

Energy drinks

2%6%

11%3%

6%10%

Annual Avg. Growth 2010-14

North America

W. Europe

E. Europe

S. America

Asia

EMEA

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

PET Glass Can

CSD

Packaged Water

RTD Tea

Juice/Nector/Still drinks

Sports & Energy Drinks

31

25

6

12

2

Litres Per Capita (2010)

Global Beverage Consumption by Packaging

CONVERISON TO PET PACKAGING IN ASIA & AFRICA YET TO PEAK - HIGH GROWTH LIKELY IN NEXT 5 YEARS

5

Global PET bottle growth 2012-2017

Retail PET growth% CAGR 2012-2017Over 6%4 – 5.9%2 – 3.9%0 – 1.9%Not illustrated

63% of global PET growthto 2017 from emerging markets

6

604 244

1,980

604

3,509

1,948

4,251 3,577

--

-

180

1,680

778

1,680

868

- 360

-1,196

-

2,463

691 2,476

-

-

-

299

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Region Product Region Product Region Product Region Product

IVL’s Packaging Business - Milestones

•Philippines-Start Preform facility

•Ghana-Projected to start preform facility

•Nigeria-Acquisition of Aurus Packaging Ltd

•Thailand –Inline Blowing in Pathumthani

•Ireland-Acquisition of Beverage Plastics

•Thailand -New Facilities in Rayong & Korat

•Thailand-Start Preform,Closure & Blowing production in Lopburi,Single Customer –Captive consumption

1998 to 2011

2012

2013

2014

Pcs’Mn

2005 2009 2012 2014

7

REVENUE

29 %

EBITDA

17 %

% CAGR - 2010

to 2013

VOLUME

26 %

2010 2013E CAGR

Sales Qty - MT 19,235 48,582 26%(US $' 000'S)

Gross Revenue 44,375 121,337 29%EBITDA 7,375 13,731 17%

Capital Employed 37,500 81,257 21%ROCE 12% 12%

Packaging Segment - Snapshot

8

75

185

500

1300

100

250

400

2810

700

950

1200

1450

1700

1950

2200

2450

2700

Melt PET Preform Blowing Bottle

$/M

TEBITDAConv. Cost

Value Attractiveness

1.Indicative only 2.Average SEA: Source in-house data for 2013

2.5X

9

Strengthening IVL’s PET Business – Incremental competitive edge

• Assisting Brand Owners transition into PET packaging in less developed markets

• Increase in Captive PET consumption

• Help to test & develop new resin

• Quality testing• Technical support to PET

customers

• One step closer to the customer

• Reality check that PET Packaging is a growth business

• First hand knowledge on downstream market trends in the industry

Catalyst for PET Growth

Enhancing IVL’s

Relationship with Brand

Owners

Customer Service Support Centre

Market Research Support

10