100% Bio-based EPICHLOROHYDRIN

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1 100% Bio-based EPICHLOROHYDRIN 17 July 2018 at BIO World Congress Hideyuki TSUKII

2 Outline Company Introduction 100% Bio-based Epichlorohydrin New Business Development Success Stories ProBioTracker

3 Advanced Biochemical (Thailand) Co., LTD ABT is owned by Vinythai Public Company Limited, a leading Chlor-Alkali and PVC producer based in Thailand 58.78% 24.98% Public shareholders 16.24% *information as of 11 May 2017 ABT operates the first world scale bio-based epichlorohydrin plant (100 kt/y) in Map Ta Phut industrial estate since February 2012

4 Portfolio and Financial Information Advanced Biochemical (Thailand) (Bio-based Epichlorohydrin) Vinythai 2017 Sales Revenue is 600 MUSD

5 Business Domains of AGC Group (established in 1907) AGC Group (13/1.1) Sales/Operating income(2017) Unite: Billion USD ( Forex. Rate ; 1 USD = 112JPY ) Chemicals (3.9/0.6) Electronics & Display (2.3/0.24) Glass (6.6/0.24) Chlor-alkali & urethane (2.5 /N.D.) Display (1.8/N.D.) Flat Glass (3.1/N.D.) -Caustic soda -Urethane materials -Gases & Solvents --Vinyl chloride etc. -LCD glass substrates -PDP glass substrates etc. -Float flat glass -Low-E glass Heat-absorbing glass etc. Fluorochemicals & Specialty chemicals (1.5/N.D.) -Fluorinated resins -Agrichemicals and pharmaceuticals etc. Electronics Materials (05/N.D.) -Optical filters for Displays -Optoelectronics materials etc.. Automotive Glass (3.4/N.D.) -Laminated glass -Tempered glass

6 Global Ranking except for China - EPI (as of 2017) AGC group has 152 KMT capacity after Vinythai M&A. # Shareholder Site locations Capacity (ECH: KMT) 1 Olin US, Germany AGC Group Japan, Thailand 3 LFC Korea 4 FPC Taiwan 5 INOVYN France 6 Hexion Netherland 7 Osaka Soda Japan Others 337 Total 1,339 Source: AGC Analysis

7 Bio-based EPICHLOROHYDRIN Bio-based Petro-based Source: Green Chemicals Blog

8 Competitive Drop-in for Petro-based EPI 100% bio-based epichlorohydrin produced from vegetable glycerol via an innovative and patented technology. It is a drop-in for petro-based EPI Glycerol is a by-product of manufacturing biodiesel and oleochemicals EPI is used as an intermediate of epoxy resins and other derivatives. Epoxy resins are used in the following applications: Coatings Electronics Composites Adhesives Other epichlorohydrin derivatives include surfactants for home & personal care, water treatment and paper chemicals

9 Bio-based EPI The Most Sustainable EPICHLOROHYDRIN A comparative, cradle-to-gate Life-Cycle Assessment of Bio-based vs. petrobased EPI was conducted in 2012 and peer reviewed by Dekra Consulting. For each kg consumed (vs. petro-based EPI), the carbon footprint is lowered by 2.56 kg CO 2 eq. or 61% reduction including biogenic CO 2. ABT has been certified by Roundtable on Sustainable Biomaterials (RSB) since 2015.

10 Bio Content Analysis ( 14 C)

11 New Business Development * ABT welcomes co-development Growth Project

12 Mitsui Chemicals Launched Bio-based Optical Lens Monomer The world s first bio-based material for eyeglass lenses DoGreen MR-174 is a USDA certified bio-based product scoring an 82% biomass rating Reducing 326 kg of CO 2 emissions per 100kg of 1.74 resin produced when compared to regular 1.74 material production Source: Cherry Optical, Inc

13 ProBioTracker - The Innovative Partnership with AkzoNobel and EY Petro-based EPI producer 1 Petro-based EPI producer 2 Epoxy resin manufacturer 1 Epoxy resin manufacturer 2 Epoxy resin manufacturer 3 3 rd party calculation of Chain of Custody and online bio-based certificate by EY Climate Change and Sustainability Services AkzoNobel increased the use of renewable raw materials in its paints and coatings by progressively increasing the use of epoxy resins based on bio-based EPI from ABT EY CCaSS joined forces to develop an online platform to track the biobased material along the value chain even without physical segregation or when it is converted to another substance probiotracker.com was launched ProBioTracker is under trial by ABT, a number of epoxy resin manufacturers and AkzoNobel

14 Techno Driven Aiming for 100% Bio-based Epoxy Resin Bio-based content can be increased up to 100% by substitute BPA with renewable sources: Cardanol: renewable aromatics extracted from cashew nutshell Lignin: lignocellulose in plants cell wall, it is one of the most promising alternative for BPA Rosin: naturally found in pines and conifers, extracted by distillation of tall oil, a byproduct of the Kraft pulp process Isosorbide: derived from corn, commercially available Furan Di-Carboxylic Acids: from fructose, through dehydration and oxidation process Itaconic acid (fermentation of glucose), Gallic acid (derived from plant) and others

15 Conclusion ABT produces 100% bio-based epichlorohydrin by patented technology, is a market competitive drop-in for petro-based EPI It is the most sustainable EPI in terms of CO 2 emissions and process environmental performance Use of bio-based epoxy resins enable downstream industries to reduce its carbon footprint, while increasing the bio-content of finished products

16 Thank you for your attention Hideyuki TSUKII Prakit Sangthonganotai Follow our bio-based epichlorohydrin on LinkedIn