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Company Presentation October 2013 DISCLAIMER The information contained herein pertaining to SIBUR (the "Company") has been provided by the Company solely for use at this presentation. By attending this presentation, or by reading these


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SLIDE 1

Company Presentation

October 2013

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SLIDE 2

DISCLAIMER

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The information contained herein pertaining to SIBUR (the "Company") has been provided by the Company solely for use at this presentation. By attending this presentation, or by reading these presentation slides, you agree to be bound by the limitations set out below. This presentation does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall any part of it nor the fact of its distribution form part of, or be relied on in connection with, any contract or investment decision relating thereto. No representation or warranty, either express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, correctness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. The Company accepts no responsibility for any losses howsoever arising, directly or indirectly, from this presentation or its contents. The material contained in this presentation is presented solely for information purposes and is not to be construed as providing investment advice. As such, it has no regard to the specific investment objectives, financial situation or particular needs of any recipient. There may be material variances between estimated data set forth in this presentation and actual results, and between the data set forth in this presentation and corresponding data previously published by or on behalf of the Company. This presentation contains forward-looking statements, including (without limitation) statements containing the words "anticipates," "expects," "intends," "may," "plans," “forecasts,” "projects," "will," "would", "targets,“ “believes” and similar words. These statements are based on the current expectations and projections of the Company about future events and are subject to change without notice. All statements, other than statements of historical fact, contained herein are forward-looking

  • statements. Forward-looking statements are subject to inherent risks and uncertainties, such that future events and actual results may differ materially from those

set forth in, contemplated by or underlying such forward-looking statements. The Company may not actually achieve or realize its plans, intentions or expectations. There can be no assurance that the Company's actual results will not differ materially from the expectations set forth in such forward-looking statements. Factors that could cause actual results to differ from such expectations include, but are not limited to, the state of the global economy, the ability of the petrochemical sector to maintain levels of growth and development, risks related to petrochemical prices and regional political and security concerns. The above is not an exhaustive list

  • f the factors that could cause actual results to differ materially from the expectations set forth in such forward-looking statements. The Company and its Affiliates

are under no obligation to update the information, opinions or forward-looking statements in this presentation.

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SLIDE 3

AGENDA

1. Business Overview 2. Investment Highlights 3. Strategy 4. Q2&H1 2013 Operational and Financial Results 5. Appendices

3

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SLIDE 4

Unique integrated gas

processing & petrochemicals company

Leader in both gas processing

and petrochemicals industries in Russia

Diverse range of products

sold to multiple geographies and customers

Prudent and disciplined

financial policy, sustained in the market downturn

One of the highest rated private

companies in the region

Shareholders with established

track record in international capital markets

4.0 6.2 8.5 8.7 0.8 1.9 2.9 2.6

2009 2010 2011 2012 Revenue, USD bln EBITDA, USD bln

48 47 6

By Region

  • 27(3) production sites in Russia
  • Over 28,000 employees
  • Russia‟s largest APG processor with a

56%(4) share of total processed volumes

  • Russia‟s largest LPG producer with a

32%(5) share of total country‟s production

  • Russia‟s largest MTBE producer with a

36% share of total country‟s production(5)

  • Share of Russia‟s synthetic rubbers

production: BR – 33%, SBR – 61%, SBS – 100%(5)

  • 37%(5),(6) of polypropylene and 41%(5) of

Russia‟s total LDPE production

  • Currently rated Ba1 (Moody‟s) / BB+ (Fitch)

with no history of downgrades throughout 2008/09 crisis

SIBUR AT A GLANCE

Energy products Other Petchem

Financial Performance(1)

1.6x EBITDA margin, % 20%

SIBUR Revenue Breakdown (2012)

By Product %

55 29 9 6 1

%

Other Asia CIS Europe Russia

Key Facts

31% 35% 30% 0.7x 0.8x Net debt/ EBITDA

Notes: (1) All financial figures for SIBUR in this presentation for the years of 2009-2012 are based on combined financial information, which excludes the results of the mineral fertilisers and tyres businesses, which were divested by SIBUR in December 2011, for all reporting periods. (2) SIBUR’s reporting currency is Russian rouble. Figures have been translated from RR to USD at average FX rates for the respective periods. (3) Including three gas processing plants (GPPs) operated by OOO Yugragazpererabotka, our JV with RN Holding (formerly TNK-BP Holding), which we do not consolidate from the second quarter of 2013.

1.0x

(4) Central Dispatch Department of the Fuel & Energy Complex, for FY 2012. (5) Petromarket, Kortes, Market Report, Alliance Analytics, Russian Association of Synthetic Rubbers Producers, company data, for FY 2012. (6) Including 100% of NPP Neftekhimia production.

(2) (2) (2)

4

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SLIDE 5

SIBUR OPERATES A UNIQUE VALUE CHAIN

5 Integrated Value Chain from Feedstock Sourcing to the Production of Petrochemicals

  • Processing of APG into

natural gas and NGLs

  • Transportation of NGLs
  • Fractionation of NGLs into

marketable energy products

  • Sale of energy products to

external customers and SIBUR‟s petrochemicals segment

  • Production and sale of four

categories of petrochemical products

  • Intermediates
  • Basic polymers
  • Synthetic rubbers
  • Plastics and organic synthesis

products

FEEDSTOCK AND ENERGY PETROCHEMICALS

Oil-based feedstock (APG) Gas-based feedstock (NGLs) Gas processing / Fractionation Intermediates

Basic polymers Synthetic rubbers Plastics & organic synthesis products

  • Oil-based feedstock (APG)
  • By-product of oil production
  • Sourced from oil companies
  • Transported via pipelines
  • Gas-based feedstock (NGLs)
  • Sourced from gas and oil

companies

  • Transported via pipelines

and rail

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SLIDE 6

Ust-Luga Transshipment Facility(1) SIBUR-PETF BIAXPLEN (Moscow region) Headquarters (Moscow) Plastic-Geosintetika Plastic BIAXPLEN (Kursk) Voronezhsintezkauchuk RusVinyl(3) SIBUR-Neftekhim(5) NPP Neftekhimia BIAXPLEN (Nizhniy Novgorod region) SIBUR-Khimprom Uralorgsintez SIBUR- Kstovo BIAXPLEN (Samara region) Togliattikauchuk Polief Tomskneftekhim Orton Krasnoyarskiy ZSK SIBUR-Geosint Yuzhno-Priobskiy GPP(2) Nyagan GPP(4) Tobolsk Polymer Plant(1) Tobolsk-Neftekhim

Notes: (1) Investment project. (2) Investment project, JV with Gazprom Neft Group. (3) Investment project, JV with SolVin Holding Nederland B.V. (4) Part of OOO Yugragazpererabotka, JV with TNK-BP. On 30 July 2013, TNK- BP was renamed to RN Holding following the acquisition by Rosneft. (5) Including three production sites.

SIBUR‟s JVs Feedstock & Energy segment Petrochemicals segment Production sites with joint operations of Feedstock & Energy and Petrochemicals segments

EXTENSIVE ASSET BASE THROUGHOUT RUSSIA

6

Largest oil & gas reserves region in Russia

Proven oil reserves Proven gas reserves

Western Siberia

22 tcm 48 bln bbl

Source: IEA

Gubkinskiy GPP Vyngapurovskiy GPP Muravlenkovskiy GPP Belozerniy GPP(4) Nizhnevartovskiy GPP(4) Yuzhno-Balykskiy GPP BIAXPLEN (Tomsk)

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SLIDE 7

AGENDA

7

1. Business Overview 2. Investment Highlights 3. Strategy 4. Q2&H1 2013 Operational and Financial Results 5. Appendices

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SLIDE 8

INVESTMENT HIGHLIGHTS

8

Advantageous access to feedstock and high barriers to entry Vertically integrated business model supporting earnings sustainability Leading market position in the attractive Russian petrochemicals market Highly diversified product portfolio Strong management team and supportive shareholders Unique growth opportunities

     

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SLIDE 9

Vyngapurovskiy GPP Belozerniy GPP Yuzhno-Balykskiy GPP Purovskiy GCP Surgutskiy ZSK Gubkinskiy GPP Muravlenkovskiy GPP Nizhnevartovskiy GPP

NOYABRSK MEGION

Urengoy - Chelyabinsk gas pipeline (Gazprom) Vyngayakhinskaya CS CS-3 Bakhilovskaya CS Tyumen CS

NEFTEYUGANSK

Nizhnevartovsk – Parabel – Kuzbass gas pipeline (Gazprom) Pravdinskaya CTF Kholmogorskaya CS Surgutskaya Power Station CGTU Gas condensate pipeline Urengoy - Surgut (Gazprom) Nizhnevartovskaya Power Station SIBUR GPPs SIBUR railway loading racks Gazprom UGSS SIBUR NGL pipelines SIBUR compressor stations SIBUR NGL pipelines under construction SIBUR APG pipelines SIBUR natural gas pipelines Gazprom condensate pipeline Third-party compressor stations Third-party processing facilities Tobolsk production site (SIBUR flagship GFU) Nyagan GPP Urengoy – Center I, II gas pipeline (Gazprom) Yuzhny CTF Third-party APG pipelines Tobolsk production site (SIBUR flagship GFU) Truck transportation Zapadno-Lovinskaya CS Severo-Danilovskaya CS Surgutskiy GPP Lokosovskiy GPP

PUROVSK

Third-party power stations

TOBOLSK PYT-YAKH

Economies of scale High barriers to entry

9

SIBUR owns and operates the largest and most extensive infrastructure for processing and transportation of feedstock in Western Siberia:

  • 7 (1) out of 9 gas processing plants (GPP)
  • APG processing capacity of 23 bln cubic

metres(2) p.a.

  • Raw NGL processing capacity of

3.8 mln tonnes p.a. at flagship gas fractionation unit (GFU) in Tobolsk (out of 5.2 mln tonnes p.a. of the Company’s total capacity)

  • Pipeline network of 2,433 km(3)
  • 4 railway loading racks (out of 6 operated by

Feedstock & Energy segment)

SIBUR‟s GPPs

– – SIBUR’s GPPs –

Notes: (1) Nyagan GPP, Belozerniy GPP and Nizhnevartovskiy GPP are part of OOO Yugragazpererabotka, JV with RN Holding (formerly TNK-BP Holding). (2) As of 31 December 2012. Including 100% of processing capacity of GPPs, which are controlled by OOO Yugragazpererabotka,the Group's joint venture with TNK-BP. On 30 July 2013, TNK- BP was renamed to RN Holding following the acquisition by Rosneft. (3) Including APG, raw NGL and natural gas pipelines.

UNIQUE LARGE-SCALE GAS PROCESSING INFRASTRUCTURE IN WESTERN SIBERIA

Advantageous access to feedstock and high barriers to entry

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SLIDE 10

2.4 2.8 3.3 3.4 2009 2010 2011 2012

FEEDSTOCK TRENDS

APG NGLs

Notes: (1) Billion cubic metres. (2) IHS CERA. (3) Including all APG and NGL supplies from RN Holding (formerly TNK-BP Holding) under JV arrangements (OOO Yugragazpererabotka). (4) RUPEC.

Unstable Gas Condensate Associated Petroleum Gas

10 20 30 40 50 60 2005 2010 2015 2020 2025 2030 bcm(1) mln tonnes 20 40 60 80 100 2005 2010 2015 2020 2025 2030

  • c.74% of APG supplies for

2013 guaranteed under multi- year contracts

  • WA maturity of supply

contracts - 12.4 years(3)

  • c.79% of NGLs supplies for

2013 guaranteed under multi- year contracts

  • WA maturity of supply

contracts - 12.1 years(3)

bcm(1) mln tonnes

SIBUR’s Sourced Volumes Contract / Spot Split as of 30 June 2013 Outlook for Feedstock- Rich Gas Production in Russia(2)

2012 APG flaring – c.24%(4) of produced volumes

12.4 13.0 12.7 13.0 2009 2010 2011 2012

10

Advantageous access to feedstock and high barriers to entry

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SLIDE 11

Plastics and

  • rganic synthesis

Basic polymers (PP, PE) Synthetic rubbers

VERTICALLY INTEGRATED MODEL WITH MULTIPLE EMBEDDED EARNINGS SUSTAINABILITY DRIVERS(1)

11

Feedstock & Energy segment Petrochemicals segment

Methanol

33%

NGLs Other third-party feedstock

100% 100% 67%

MTBE NGLs Natural gas Oil & Gas producers

9(2) production sites

Gross sales: RR 168.1 bln EBITDA margin: 44.5%

18 production sites

Gross sales: RR 135.6 bln EBITDA margin: 11.9%

Gas-based feedstock (NGLs)

Intermediates and

  • ther chemicals

Oil producers

Earnings Sustainability Drivers  Deep discount between natural gas selling price and APG purchasing price hedges economics of APG processing  Economics of NGL fractionation limits exposure to

  • il & oil derivative price

volatility  Net seller position of energy products hedges against increases in prices for petrochemical feedstock  Prices for petrochemical products are only partially correlated with oil & oil derivative prices

Vertically integrated business model supporting earnings sustainability  External sales represent

  • c. 80% of Feedstock &

Energy segment gross revenue  Dominant share of feedstock for petrochemicals segment is sourced internally

Oil-based feedstock (APG)

  • Share of available for sale volumes

X% Notes: (1) All figures based on FY 2012 financials. (2) Including three GPPs operated by OOO Yugragazpererabotka, JV with RN Holding (formerly TNK-BP Holding).

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SLIDE 12

13 87 54 46 34 66

LDPE

63 37 60 40

Basic polymers Synthetic rubbers Plastics and

  • rganic synthesis

12

LEADING PLAYER IN THE HIGH-GROWTH DOMESTIC MARKET

2012 2012 2012 % %

Polypropylene

%

MEG

%

PET

%

Expandable polystyrene

Russia Consumption Growth Outlook

CAGR, 2011-2020

Others SIBUR‟s share

Growth Fundamentals

Kg per Capita Consumption of Basic Polymers

Polypropylene Polyethylene (LDPE)

Source: Petromarket, Kortes, Market Report, IHS Chemical, Nexant, Alliance Analytics, company data

SIBUR’s Share in Russia’s Production Capacity

2.4% 2.5% 2.8% 3.0% 4.2% 4.4% 4.5% 8.8% 10.0% 10.0% PVC LDPE IIR HDPE PP EPS PET LLDPE MEG SBS (TEP) 4 3 6 9 Russia China Eastern Europe Western Europe 6 12 13 18 Russia China Central Europe Western Europe Leading position in the attractive Russian petrochemicals market

67 33 BR 39 61 SBR SBS % % % 100 %

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SLIDE 13

13

MULTIPLE PRODUCTS, GEOGRAPHIES AND CUSTOMER GROUPS

Customer Concentration Contract / Spot Structure of Sales

4% 5% 11% 12% 9% 26% 30% 38% 43% 53% Basic polymers Plastics and organic synthesis products Intermediates and

  • ther chemicals

Synthetic rubbers Energy products Top-10 Largest customer 69% 35% 60% 41% 31% 65% 40% 59% Energy Basic polymers Synthetic rubbers Plastics and

  • rganic

synthesis Spot Contract

Over 1,500 large customers… …from 60 countries …representing diverse range of end-customer industries …with low customer concentration …and balanced contract / spot sales structure Total Group Sales Breakdown

20 10 9 7 1 15 15 8 9 6 55 29 9 6 1

%

Other Asia CIS Europe Russia Intermediates and other chemicals

%

LPG Naphtha Natural gas Basic polymers Synthetic rubbers Plastics and

  • rganic

synthesis products MTBE and other fuels Processing services and other sales Raw NGL

2012 By product By region 2012 2012

Highly diversified product portfolio

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SLIDE 14

DIVERSE DRIVERS AND END-MARKETS

Key drivers Correlation with oil prices

  • Commodity

cycle, global oil prices

  • Transportation

costs and export duties

  • Increase of

regulated gas tariffs by Russia‟s Federal Tariff Service

  • Domestic fuel

additives market (refineries upgrade, introduction of Euro standards, car fleet)

  • Import

substitution

  • Demand/supply

in multiple end- customer industries

  • Development
  • f tyre &

vehicle manufacturing

  • Natural rubber

prices

  • Commodity

cycle, demand/supply balance in respective petrochemical products

84 25 20 22 41 40 23

Intermediates and other Plastics and OS products Synthetic rubbers Basic polymers MTBE and other fuel additives Natural gas LPG, naphtha, raw NGL

20% 80% 25% 75% 59% 41% 21% 79% 100% 81% 19%

2012 revenue(1), RR bln 2012 revenue structure

Notes: (1) External sales

Highly diversified product portfolio

     

S

Key end- markets

  • Petrochemicals
  • Refining
  • Power &

Utilities

  • Power & Utilities
  • Mineral fertilisers
  • FMCG
  • Construction
  • Chemicals
  • Gasoline

production

  • Automotive
  • Construction
  • Chemicals
  • FMCG
  • Construction
  • Chemicals
  • Demand/supply

in multiple end- customer industries

Domestic Export

29% 71%

14

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SLIDE 15

15

Western Europe PETROCHEMICALS FEEDSTOCK PETROCHEMICALS AND END-PRODUCTS FEEDSTOCK

>6,000 km >4,000 km Long distances with infrastructural constraints Significant export duties for naphtha and LPG in Russia Ample feedstock base Significant export duties for naphtha and LPG in Russia

SIBUR‟s production assets

Notes: (1) USD per tonne. (2) USD per tonne of polypropylene, assuming LPG consumption ratio of 1.2x. (3) USD per tonne of polypropylene. PP price in Western Europe

Illustrative PP price build-up, as of September 2013

1,622(1) Propane price (1) Propane feedstock cost (2) PP production cost(3) Total cost for producers(3) Propane price in Europe(1) Transport & export duties(1) Propane price (1) Propane feedstock cost (2) PP production cost(3) Transportation to W.Europe(3) Total cost for producers(3)

China and Northeast Asia

SIBUR’s petrochemical hub in Tobolsk

Western Europe Tobolsk

EFFICIENT MONETISATION OF STRANDED FEEDSTOCK

Unique growth opportunities

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SLIDE 16

16

Source: IHS Chemical

STRONG POSITION ON THE GLOBAL PE AND PP COST CURVES

Unique growth opportunities

100 350 600 850 1100 1350 1600 1850 5000 10000 15000 20000 25000

PP Delivered to Western European Customers (2013) LDPE Delivered to China Port (2013)

bcm LDPE Delivered to Western European Customers (2013)

PP Delivered to China Port (2013)

100 350 600 850 1100 1350 1600 1850 2100 5000 10000 15000 20000 25000 Cumulative capacity („000 tonnes) NEA avg. WE avg. NA avg. ME avg.

SIBUR

(USD per tonne) Russia avg. NEA avg. WE avg. NA avg. ME avg.

SIBUR

(USD per tonne) Russia avg. 100 350 600 850 1100 1350 1600 1850 2100 15000 30000 45000 60000 75000 NEA avg. WE avg. ME avg.

SIBUR =

Russia avg. (USD per tonne) NA avg. 100 350 600 850 1100 1350 1600 1850 2100 15000 30000 45000 60000 75000 NEA avg. WE avg. ME avg.

SIBUR =

Russia avg. (USD per tonne) NA avg. Cumulative capacity („000 tonnes) ME – Middle East, NA – North America, NEA – Northeast Asia, WE – Western Europe

Global Polyethylene Cost Curve Global Polypropylene Cost Curve

Cumulative capacity („000 tonnes) Cumulative capacity („000 tonnes) ME – Middle East, NA – North America, NEA – Northeast Asia, WE – Western Europe ME – Middle East, NA – North America, NEA – Northeast Asia, WE – Western Europe ME – Middle East, NA – North America, NEA – Northeast Asia, WE – Western Europe

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SLIDE 17

Project Description Production Scheme

Propane 612 Raw NGL Propylene 510 Dehydro- genation TOBOLSK Gas Fractionation Unit PP-500

‟000 tonnes p.a.

17

TOBOLSK-POLYMER: LARGE SCALE PP PRODUCTION CLOSE TO FEEDSTOCK BASE

TOBOLSK-POLYMER

  • Design capacity:
  • Propane dehydrogenation: 510,000 tonnes p.a. of propylene
  • Polypropylene production: 500,000 tonnes p.a.
  • Leading global players involved:
  • Licensors: UOP, INEOS
  • EPC contactors: Tecnimont, LINDE

Unique growth opportunities

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SLIDE 18

Vyngapurovskiy GPP Belozerniy GPP Yuzhno-Balykskiy GPP Purovskiy GCP Surgutskiy ZSK Gubkinskiy GPP Muravlenkovskiy GPP Nizhnevartovskiy GPP

NOYABRSK MEGION

Urengoy - Chelyabinsk gas pipeline (Gazprom) Vyngayakhinskaya CS CS-3 Bakhilovskaya CS Tyumen CS

NEFTEYUGANSK

Nizhnevartovsk – Parabel – Kuzbass gas pipeline (Gazprom) Pravdinskaya CTF Kholmogorskaya CS Surgutskaya Power Station CGTU Gas condensate pipeline Urengoy - Surgut (Gazprom) Nizhnevartovskaya Power Station Tobolsk production site (SIBUR flagship GFU) Nyagan GPP Urengoy – Center I, II gas pipeline (Gazprom) Yuzhny CTF Zapadno-Lovinskaya CS Severo-Danilovskaya CS Surgutskiy GPP Lokosovskiy GPP

PUROVSK TOBOLSK PYT-YAKH

PUROVSK – PYT-YAKH – TOBOLSK PIPELINE FOR RAW NGL TRANSPORTATION

Project Description

  • Construction of a new 1,100 km raw NGL pipeline between

Purovskiy gas condensate plant, Yuzhno-Balykskiy GPP (near Pyt- Yakh) and Tobolsk GFU

  • Estimated throughput capacity:
  • c.4 mtpa (Purovskiy GCP – Noyabrsk loading rack)
  • c.5.5 mtpa (Noyabrsk loading rack – Yuzhno-Balykskiy GPP)
  • c.8.0 mtpa (Yuzhno-Balykskiy GPP – Tobolsk GFU)
  • Estimated launch: 2015

Completion Stage 1 September‟13 Overall status: 53% completed

Unique growth opportunities

47% 76% 100% Construction Equipment & Procurement Design

18

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SLIDE 19

19

Notes: (1) Independent Directors. (2) Chairmen of the Board Committees. (3) As of 5 July 2013. (4) As of 25 April 2013.

Highest Corporate Governance Standards Board of Directors(4) Board Committees(4)

Current & former senior SIBUR managers Leonid Mikhelson & Gennady Timchenko

82.5 17.5

%

Shareholder Structure(3)

  • SIBUR‟s Board of Directors includes high profile independent members
  • Institutionalized board committees in alignment with global best practices
  • Internal processes are largely governed by specific and formalized regulation
  • IFRS financial reporting since 2003

Audit Committee Seppo Remes(1)(2) Oleg Golounin Ilya Tafintsev Human Resources & Remuneration Committee Ruben Vardanian(1)(2) Oleg Golounin Seppo Remes(1) Strategy and Investments Committee Alexander Dyukov(2) Vladimir Razumov Ilya Tafintsev Gennady Timchenko Leonid Mikhelson Member of the BOD, Chairman of the Management Board of OAO NOVATEK Gennady Timchenko Co-founder of Gunvor Alexander Dyukov CEO of OAO Gazprom Neft Vladimir Razumov Member of the Management Board, Deputy Chairman of the Management Board - Executive Director of OOO SIBUR Oleg Golounin Managing Director of OOO LEVIT Dmitry Konov Chairman of the Management Board, OAO SIBUR Holding, CEO of OOO SIBUR Ruben Vardanian(1) Managing Director and Chairman of the Board of Directors of ZAO Sberbank CIB Seppo Remes(1) General Director of KIURU OOO Ilya Tafintsev Director, Strategic Projects, OAO NOVATEK

ESTABLISHED GOVERNANCE PRACTICES AND BALANCED BOARD STRUCTURE

Strong management team and supportive shareholders

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SLIDE 20

20

HIGHLY EXPERIENCED MANAGEMNT TEAM WITH EXTENSIVE TRACK RECORD

Dmitry Konov

CEO Chairman of the Management Board

Vladimir Razumov

Deputy Chairman of the Management Board

Mikhail Karisalov

Deputy Chairman of the Management Board

Kirill Shamalov

Deputy Chairman of the Management Board

  • IMD MBA degree
  • 9 years at SIBUR
  • Former Managing

Director at AKB Trust and Investment Bank

  • Over 40 years in

petrochemical industry

  • 11 years at SIBUR
  • Former USSR

Deputy Minister of the Oil Refining and Petrochemicals Industry

  • 9 years at SIBUR
  • Former Head of

Feedstock & Energy Division at SIBUR

  • 4 years at SIBUR
  • Former advisor to the

Russian Government

  • Former Chief Legal

counsel for Foreign Economic Activity at OAO Gazprom

Pavel Malyi

CFO Deputy Chairman of the Management Board

  • MS from Chicago

Law School

  • 2 years at SIBUR
  • Former Head of UBS

Investment Bank, Russia and CIS EXPERIENCE HIGHLIGHTS

Strong management team and supportive shareholders

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SLIDE 21

SIBUR’S EVOLUTION AS INDUSTRY LEADING PLAYER

Strong management team and supportive shareholders

  • Feb-2003: Mr. Dyukov appointed CEO
  • Core management team formed
  • Production flow streamlined
  • Number of efficiency initiatives realised

(sales, procurement, operations)

  • Development and implementation of

centralised SCM system

  • Organisational restructuring: creation of

business units

  • Asset consolidation
  • Debt restructuring

Creating fundamentals for growth

  • Dec-2006: Mr. Konov appointed CEO
  • Long-term development strategy formulated
  • Formalized investment procedures and

processes in place

  • Development of capex execution capabilities
  • Headcount optimization
  • Successful navigation through 2008-2009

global economic crisis

  • Modernization and expansion of Feedstock &

Energy segment assets

  • JVs with TNK-BP and SolVin created
  • Selective M&A

Emerging as industry-leading player

  • Mr. Mikhelson becomes controlling

shareholder

  • Substantial increase of organic investment

activity in both segments in line with strategy

  • Disposal of non-core assets (fertilizers and

tyres businesses)

  • Upgrade of SCM system
  • Operational improvements
  • Development and implementation of SIBUR

production system

  • ERP implementation and IT upgrade
  • Establishment of international JVs

(Reliance, Sinopec)

  • Selective M&A

Consistent strategy implementation

2003 – 2005 2006 – 2009 2010 – present 21

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SLIDE 22

AGENDA

22

1. Business Overview 2. Investment Highlights 3. Strategy 4. Q2&H1 2013 Operational and Financial Results 5. Appendices

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SLIDE 23

STRATEGIC OBJECTIVES

  • Strengthen cooperation with oil and gas companies by offering efficient by-product utilisation

services through JVs and multi-year contracts

  • Expand APG and NGLs processing capacity and infrastructure in Western Siberia
  • Develop large-scale petrochemicals production capacity close to feedstock base in Western

Siberia to capitalise on strong cost advantage for basic polymers

  • Achieve more balanced business model through reduction of exposure to volatile global energy

markets

  • Enhance position on the domestic petrochemicals market to benefit from
  • Growth in per-capita consumption
  • Replacement of conventional materials by petrochemical products
  • Import substitution
  • Cost control
  • Streamline and integrate asset base
  • Enhance business processes and functions, upgrade IT infrastructure
  • Prioritisation of investment opportunities and focus on projects with best strategic fit and industry-

leading returns Cement long- term access to feedstock Monetize stranded feedstock through petrochemicals Capture domestic growth

  • pportunities

Pursue operational excellence

23

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SLIDE 24

14 60 30 30 39 39 Feedstock processing capacity Transportation infrastructure Petrochemicals Other TOTAL Purovsk-Pyt-Yakh- Tobolsk raw NGL pipeline

Source: Company data Notes: (1) Includes only investment projects approved by the Group’s Investment Committee. In addition, SIBUR is evaluating a number of projects which are at various stages of review. Therefore, the actual amount of capital expenditure that the Group may incur may exceed the amounts that have been formally approved. (2) Decision on the “ZapSib-2” project is expected after completion of the FEED stage, no earlier than the second half of 2013.

INVESTMENT PROGRAMME DESIGNED TO MEET STRATEGIC GOALS

22 60 88 88 24 Feedstock processing capacity Transportation infrastructure Petrochemicals Other TOTAL

2013 – 2016E(1) 2009 – 2012A

RR bln (excl. VAT) RR bln (excl. VAT) 194 Maintenance, R&D, IT, and other Construction and expansion of GPPs (Vyngapurovskiy, Yuzhno-Balykskiy) Ust-Luga transshipment facility, railway loading racks, raw NGL pipelines Tobolsk-Polymer and multiple smaller scale projects 82 74 143 Second GFU at Tobolsk Tobolsk-Polymer, ZapSib-2(2) FEED and other Maintenance, R&D, IT and other

24

RR 74 bln (excl. VAT) investment programme approved by SIBUR BoD for 2013

slide-25
SLIDE 25

AGENDA

25

1. Business Overview 2. Investment Highlights 3. Strategy 4. Q2&H1 2013 Operational and Financial Results 5. Appendices

slide-26
SLIDE 26
  • Growth in processing and production volumes y-o-y
  • New long-term arrangements with RN Holding

(formerly TNK-BP(1)) on the format of cooperation within our JV Yugragazpererabotka

  • Weighted average maturities of multi-year supply contracts

increased to exceed 12 years both for APG and NGLs

  • Significant progress on multi-year investment programme
  • Tobolsk-Polymer Plant: Construction completed. PP

production on delivered propylene. Commissioning works focused on propane dehydrogenation unit

  • Ust-Luga Transshipment Facility at commissioning stage,

test loadings of LPG and naphtha tankers

  • Thermoplastic elastomers production facility in Voronezh

launched

  • International sales network expanded with focus on basic

polymers ahead of Tobolsk-Polymer launch

  • New trading subsidiaries registered in Turkey and Ukraine
  • As of 30 Jun‟13 SIBUR had 7 international sales desks

in 4 countries outside Russia

  • Increase in management’s stake to 17.5%
  • JV with SINOPEC for NBR production in Krasnoyarsk completed
  • USD 1 bln debut 5-year Eurobond due 2018 placed

at 3.914% pa

KEY H1 2013 DEVELOPMENTS

  • High base effect: trading activities in favour of the

divested mineral fertilisers business continued in Q1‟12 and were terminated from Q2‟12

  • Change in scope:
  • Deconsolidation of Yugragazpererabotka from Q2‟13
  • Consolidation of BIAXPLEN from Q2‟12
  • Change in natural gas delivery basis to “ex-field”

from 1 Jan‟13

ONE-OFF FACTORS EXTERNAL ENVIRONMENT

26

SIBUR: KEY DEVELOPMENTS

  • Macro and market turbulence prevailed in H1’13
  • Slow-down in GDP growth both globally and in Russia
  • Lower oil, LPG and naphtha prices
  • Continuing price correction for synthetic rubbers on

weak demand

  • Tighter spreads between feedstock and end-product

prices, especially in synthetic rubbers

  • Indexation of natural gas prices
  • Growth in average H1‟13 price of 13% y-o-y

(increase by 15% in Jul‟12, decrease by 3% in Apr‟13)

  • Depreciation of RR against USD
  • Average RR/USD rate up by 1.2% y-o-y
  • RR/USD as of 30 Jun‟13 up by 7.7% vs 31 Dec‟12;

RR/USD as of 30 Jun‟12 up by 1.9% vs 31 Dec‟11

Notes: (1) Renamed RN Holding as of 30 July 2013 following the acquisition by Rosneft.

slide-27
SLIDE 27

1.00x 0.98x 1.16x 31 Dec'12 31 Mar'13 30 Jun'13 38.8 37.0 H1 2012 H1 2013 29.7 25.5 H1 2012 H1 2013 42.6 38.1 H1 2012 H1 2013 136.9 130.0 H1 2012 H1 2013

SIBUR H1 2013 FINANCIAL SUMMARY

27

RR bln EBITDA margin, % 31.1% 29.3% RR bln RR bln (5.0%) (10.4%) (4.8%) Revenue EBITDA OCF Net Debt / EBITDA 0.49x 0.46x 0.44x 31 Dec'12 31 Mar'13 30 Jun'13 RR bln (13.9%) Net Profit Debt / Equity Net margin, % 19.6% 21.7%

slide-28
SLIDE 28

6.0% 7.0% 2012 2013 4.5% 1.4% H1 2012 H1 2013 4.3% 6.9% H1 2012 H1 2013

MACRO ENVIRONMENT

Russian GDP Growth(1) Consumer Price Index (y-o-y)(1) Railway Tariffs Indexation(2)

28

Average Exchange Rate(3) Exchange Rate(3)

RR / USD RR / USD

Average Electricity Tariffs

RR per kw / hour 1.8 2.0 H1 2012 H1 2013

+9.8%

Source: (1) Russian Federal State Statistics Service (2) Federal Tariff Service (3) CBR

32.2 32.8 31 Dec`11 30 Jun`12 31 Dec`12 30 Jun`13 +1.9% 30.4 32.7 30.6 31.0 H1 2012 H1 2013

+1.2%

+7.7%

slide-29
SLIDE 29

30.0 50.0 70.0 90.0 110.0 0.6 0.7 0.8 0.9 1.0 1.1 H1 2012 H1 2013 Naphtha LPG DAF Brest LPG Sonatrach Brent, USD per bbl (RHS) 1.2 1.4 1.6 1.8 2.0 H1 2012 H1 2013 2-ethylhexanol Expandable polystyrene MEG Butyl acrylate PET 1.3 1.4 1.5 H1 2012 H1 2013 PP LDPE

MARKET ENVIRONMENT(1)

Source: Argus, Bloomberg, ICIS, Chemease, Malaysian Rubber Board Notes: (1) For detailed market data statistics please refer to Appendix. Prices quoted in EUR are converted to USD at average EUR / USD FX rates for the respective periods.

Energy Products Basic Polymers

29

(5.1%) (6.2%) (17.0%) +4.4% +3.0% 1.5 2.0 2.5 3.0 3.5 4.0 H1 2012 H1 2013 Natural rubber Styrene-butadiene rubber Butadiene Butyl rubber

Synthetic Rubbers Plastics & Organic Synthesis

(32.4%) (23.0%) (32.4%) +15.0% +4.2% (2.5%) (1.2%) +2.1%

‟000 USD per tonne except as stated (avg. for the period) ‟000 USD per tonne (avg. for the period) ‟000 USD per tonne (avg. for the period) ‟000 USD per tonne (avg. for the period)

(13.4%) 10.4%

slide-30
SLIDE 30

REVENUE STRUCTURE AND DYNAMICS

30

21 10 9 8 3 16 13 8 8 4

% LPG Naphtha Natural gas MTBE & other fuels Basic polymers Synthetic rubbers Plastics &

  • rganic

synthesis products Processing services, trading & other sales Intermediates & other chemicals Raw NGL

Total H1 2013 revenue of RR 130.0 bln 58 27 8 6 1

Asia Europe CIS Other Russia % By region

63.4 67.2 H1 2012 H1 2013 64.4 58.0 H1 2012 H1 2013 +6.0% (10.0%) RR bln 9.1 4.8 H1 2012 H1 2013 (46.7%) Revenue Split by Region Revenue Split by Product H1 2013 H1 2013 Energy Products Petrochemical Products Other Revenue RR bln 136.9 130.0 H1 2012 H1 2013 RR bln Total Revenue RR bln (5.0%)

slide-31
SLIDE 31

PERFORMANCE BY PRODUCT GROUP

31

9.2 9.7 H1 2012 H1 2013 11.6 9.8 H1 2012 H1 2013 18.9 20.7 H1 2012 H1 2013 12.8 11.9 H1 2012 H1 2013 22.3 16.9 H1 2012 H1 2013 11.5 12.7 H1 2012 H1 2013 26.7 27.1 H1 2012 H1 2013 11.7 10.6 H1 2012 H1 2013

Natural gas Synthetic Rubbers Naphtha Plastics & Organic Synthesis MTBE Intermediates & Other

RR bln RR bln RR bln RR bln RR bln RR bln

+1.5% +10.8% (7.0%) +4.8% (9.4%) (24.3%) +9.9% (15.4%)

LPG Basic Polymers

RR bln RR bln

1.6 4.5 H1 2012 H1 2013

Raw NGL

+179.2%

RR bln

H1 2012 H1 2013

Other Revenue

(46.7%)

RR bln

9.1 4.8

Trading and other sales Sales of processing services

slide-32
SLIDE 32

5,244 6,212 H1 2012 H1 2013 1,333 1,445 H1 2012 H1 2013

ENERGY PRODUCTS: SALES VOLUMES AND PRICE DYNAMICS

LPG +8.4% (6.3%) (6.4%)

32

Sales volumes,‟000 tonnes Change in effective avg. selling price, %

Key Factors

  • Higher sales volumes in majority of the products
  • Increase in natural gas sales volumes on

inventory sales

  • Lower selling prices across the product range

following price correction on international markets

  • Decline in LPG export prices partially offset by

lower export duty

  • Lower raw NGL selling prices also reflect

increased supply in Russia, particularly in Western Siberia

  • Natural gas selling price affected by a one-off

change in the delivery basis to “ex-field”

  • Net of this effect selling price for natural gas

increased by 11.4% y-o-y

Natural Gas +18.4%

Sales volumes, mln cubic metres Change in effective avg. selling price, %

Raw NGL 104 352 H1 2012 H1 2013 (17.3%) +237.7%

Change in effective avg. selling price, % Sales volumes, ‟000 tonnes

225 248 H1 2012 H1 2013 +10.4% MTBE (5.0%)

Sales volumes, ‟000 tonnes Change in effective avg. selling price, %

Naphtha 555 537 H1 2012 H1 2013 (3.9%) (3.2%)

Sales volumes, ‟000 tonnes Change in effective avg. selling price, %

slide-33
SLIDE 33

378 390 H1 2012 H1 2013 Basic Polymers Synthetic Rubbers Key Factors Plastics & Organic Synthesis Intermediates & Other 223 211 H1 2012 H1 2013 239 214 H1 2012 H1 2013 313 250 H1 2012 H1 2013 (20.3%) (10.4%) +3.1% (5.7%) +6.2% +1.1% +6.6% (19.8%)

33

PETROCHEMICALS: SALES VOLUMES AND PRICE DYNAMICS

Sales volumes, ‟000 tonnes Change in effective avg. selling price, % Sales volumes, ‟000 tonnes Change in effective avg. selling price, % Sales volumes, ‟000 tonnes Change in effective avg. selling price, % Sales volumes, ‟000 tonnes Change in effective avg. selling price, %

Basic polymers:

  • Lower sales volumes despite higher

production and third-party purchases due to

  • inventory accumulation ahead of biennial

maintenance shutdown in Tomsk

  • partial reclassification of PP sales to

intercompany on BIAXPLEN consolidation

  • Largely flat prices

Synthetic rubbers:

  • Lower sales volumes due to weak demand,

partially compensated by focused inventory sale in Q2‟13

  • Continuous price correction for all rubber

grades but butyl rubber Plastics & organic synthesis:

  • Higher sales volumes due to organically

expanded production and consolidation of BIAXPLEN from Q2‟12

  • Largely resilient demand and prices on the

domestic market Intermediates & other chemicals:

  • Lower sales volumes on increased internal

processing of styrene, propylene and isobutylene & Caprolactam decommissioning

  • Resilient price performance
slide-34
SLIDE 34

14.5 13.0 H1 2012 H1 2013 14.2 12.9 H1 2012 H1 2013 6.7 3.1 H1 2012 H1 2013

OPERATING EXPENSES STRUCTURE AND DYNAMICS

Energy & Utilities Staff Costs Goods for Resale

RR bln RR bln RR bln

(10.3%) (9.1%) (53.9%) 5% 2% 10% 10% 11% 10% x% – % of revenue

34

Operating Expenses Key Factors Y-o-Y dynamics

99.1 97.3 H1 2012 H1 2013 (1.8%)

RR bln

34 20 13 13 5 3 3 8 Feedstock & materials Transportation & logistics Energy & utilities Staff costs Depreciation & amortisation Other

%

Repairs & maintenance Goods for resale

Structure

72% 75%

The decline attributable to

  • Lower purchases of goods for

resale (partially offset by higher feedstock & materials on PP reclass)

  • Lower staff costs due to a one-
  • ff charge in Q2‟12
  • Net effect of

Yugragazpererabotka deconsolidation, since

  • higher third-party processing

services…

  • …offset by deconsolidation of

energy & utilities, staff costs, repairs & maintenance, etc. Partially offset by

  • Higher feedstock and

materials (inter alia due to PP reclass)

  • Higher transportation &

logistics on

  • higher tariffs and volumes

by rail and higher truck transportation…

  • …despite lower natural gas

transportation via UGSS

Feedstock & Materials Transportation & Logistics

RR bln RR bln

28.2 33.3 H1 2012 H1 2013 +17.7% 18.3 19.4 H1 2012 H1 2013 +5.8% 13% 15% 21% 26% 0.3 1.6 H1 2012 H1 2013

Processing Services

RR bln

+506.7% 0% 1%

slide-35
SLIDE 35
  • Net cash from operating activities

decreased by 4.8% y-o-y primarily due to

  • decline in EBITDA…
  • …partially offset by WC changes
  • Net cash used in investing activities

increased by 132.1% y-o-y on

  • CapEx growth of 11.8% y-o-y
  • proceeds from disposals in 2012
  • Net cash used in financing activities

decreased by 71.7% y-o-y due to

  • semi-annual dividend in H1‟13 vs.

FY‟11 dividend in H1‟12

  • lower net debt repayment

CASH FLOW STATEMENT HIGHLIGHTS

Six months ended 30 June Change %

RR mln, except as stated

2013 2012 Net cash from operating activities 36,995 38,847 (4.8%) Changes in working capital 4,956 1,140 334.7% Net cash used in investing activities, including (36,717) (15,821) 132.1% PPE (36,004) (32,226) 11.8% Proceeds from disposal of non-core businesses(1)

  • 13,673

(100.0%) Net cash used in financing activities, including (9,600) (33,888) (71.7%) Dividends (7,625) (21,786) (65.0%) Effect of exchange rate changes on cash and cash equivalents 12 (154) n/m Net increase in cash and cash equivalents (9,310) (11,016) (15.5%)

Notes: (1) Includes proceeds from disposal of the mineral fertilisers business net of related income tax of RR 900 mln, as well as proceeds from the disposal of Voronezh Tyre Plant and Kirov Tyre Plant.

Key Developments Key Highlights

35

slide-36
SLIDE 36

27.1 14.8 43.7 8.8

RR bln, except as stated

30 June 2013 31 Mar 2013 31 Dec 2012 Change, % vs 31 Dec 2012 Debt 94.4 96.1 96.0 (1.7%) Cash & cash equivalents 4.3 18.2 13.6 (68.6%) Net debt 90.1 77.9 82.4 9.4% Average loan tenor (years) 3.1 3.1 1.8 – Available credit lines 69.0(2) 72.5 74.0 (6.8%) Debt / EBITDA 1.21x 1.21x 1.17x – Net debt / EBITDA 1.16x 0.98x 1.00x – EBITDA / Interest(3) 16x 16x 22x –

Key Figures

14 2 84

DEBT STRUCTURE AND MATURITY PROFILE

36

30 Jun‟13 RR bln

Debt Maturity Profile Debt Currency Split

RR EUR USD

30 Jun‟13

%

Key Highlights

  • Total debt remained largely flat
  • Net debt increased by 9.4% y-o-y due to lower cash and

cash equivalents on CapEx financing and semi-annual dividend payment

  • RR 4,5 bln(1) in debt to RN Holding deconsolidated due to

deconsolidation of Yugragazpererabotka

  • As of 30 Jun‟13, all of the debt was unsecured, except for

RR 16.6 bln outstanding under the Tobolsk-Polymer project finance facility

<1y 1-2y 2-5y >5y

Eurobond Placement

  • On 31 Jan‟13, SIBUR placed debut 5-year USD 1 bln

Eurobond at 3.914% pa

  • Short-term debt refinanced, average tenor improved to

3.1 as of 30 Jun‟13 from 1.8 years as of 31 Dec‟12

  • Fixed / floating rate ratio changed to 48 / 52% as of

30 Jun‟13 from 29 / 71% as of 31 Dec‟12

  • USD debt share increased to 84% as of 30 Jun‟13 from

79% as of 31 Dec‟12

Notes: (1) Includes principal amounts of debt owed by SIBUR to RN Holding and debt owed by Yugragazpererabotka to TNK-BP. Excludes accrued interest. (2) Of which an equivalent of RR 21,023 mln was committed. (3) Interest represents accrued interest, i.e. includes interest expense and capitalised interest. SIBUR changed its approach to reporting interest coverage ratio, as previously interest included only interest expense and excluded accrued interest. We believe that the new approach is more conservative and provides the reader with more accurate metrics.

slide-37
SLIDE 37

AGENDA

1. Business Overview 2. Investment Highlights 3. Strategy 4. Q2&H1 2013 Operational and Financial Results 5. Appendices

37

slide-38
SLIDE 38

H1 2013 H1 2012

Energy Products

MARKET PRICES

38

Rebased to 100

Synthetic Rubbers

Rebased to 100

Plastics & Organic Synthesis Products

Rebased to 100

Basic Polymers

Rebased to 100 Source: Argus, Bloomberg, ICIS, Malaysian Rubber Board, Chemease H1 2012 H1 2013 H1 2012 H1 2013 H1 2012 H1 2013 40% 60% 80% 100% 120% Brent Naphtha CIF NWE LPG DAF Brest LPG Sonatrach 40% 60% 80% 100% 120% 140% Styrene butadiene rubber, ESBR 1500 Spot, FD NWE Natural Rubber, NR SMR 20 Butadiene Contract, FD NWE Butyl rubber, IIR 1751 (yanshan) 50% 70% 90% 110% 130% Polystyrene, EPS block FOB Korea MEG Contract, FD NWE T2 2-ethylhexanol Spot, FD NWE Butyl acrylate Spot, FD NWE PET FOB China, Spot 80% 100% 120% LDPE CFR China film, Spot PP rafia China Main Port, Spot

slide-39
SLIDE 39

MARKET PRICES (CONT’D)

39

PRODUCT QUOTE SOURCE

ENERGY PRODUCTS Oil Brent (USD per bbl) Bloomberg Naphtha Naphtha CIF NWE Argus LPG LPG DAF Brest Argus LPG Sonatrach Argus BASIC POLYMERS LDPE LDPE CFR China film, Spot ICIS PP PP rafia China Main Port, Spot ICIS SYNTHETIC RUBBERS Natural rubber NR SMR 20 Malaysian Rubber Board Butyl rubber IIR 1751 (yanshan) Chemease Butadiene Butadiene Contract, FD NWE ICIS Styrene-butadiene rubber ESBR 1500 Spot, FD NWE ICIS PLASTICS & ORGANIC SYNTHESIS PRODUCTS PET PET FOB China, Spot ICIS Monoethylene glycol (MEG) MEG Contract, FD NWE T2 ICIS 2-ethylhexanol (alcohol) 2-ethylhexanol Spot, FD NWE ICIS Butyl acrylate Butyl acrylate Spot, FD NWE ICIS Expandable polystyrene Polystyrene, EPS block FOB Korea ICIS

slide-40
SLIDE 40
  • LPG and light oils transshipment facility at Ust-Luga sea port

in the Leningrad region

  • Estimated storage and loading capacity:
  • LPG: 1.5 mln tonnes p.a.
  • Light oils: 2.5 mln tonnes p.a.
  • The project is aimed to support growth in LPG exports to

premium W. European markets

  • Currently at commissioning stage
  • Test loadings of LPG and naphtha tankers began in May‟13
  • Expected launch in 2013

Project Description

UST-LUGA TRANSSHIPMENT FACILITY IN THE LENINGRAD REGION

95% 99% 100% Construction Equipment & Procurement Design

Completion Stage 40

30 June‟13 Overall status: 97% completed

slide-41
SLIDE 41

ENVIRONMENT, HEALTH AND SAFETY

LTIFR(1)

1.22 0.81 0.81 2010 2011 2012

Air Pollution Wastewater Discharge Sanitary Waste Generation

  • Corporate Programme for

Development of Safety Culture and IS(2) and OHS(3) Management Systems:

  • Develop and introduce:
  • safety standards
  • OHS management system
  • accident prevention

system

  • internal investigations

system

Notes: (1) Lost Time Injury Frequency Rate – number of injured employees per million working hours. (2) Industrial Safety. (3) Occupational Health & Safety. (4) Calculation adjusted for new methodology.

55.0 63.2 61.2 2010 2011 2012 73.0(4) 69.1 65.9 2010 2011 2012

  • Water Resource Protection

Programme (2011-2015):

  • Build, renovate and

reconstruct:

  • treatment facilities
  • water intake facilities
  • disposal sewers for

treated outflows

89.0 159.4 123.9 2010 2011 2012

  • Waste Management Programme

(2011-2015):

  • Construct new waste storage

facilities

  • Decrease waste output
  • Upgrade waste processing

and utilisation equipment

(3%) (5%) (22%)

  • Air Resource Protection

Programme (2012-2016):

  • Decrease emission of the

pollutants

  • Reduce SIBUR‟s industrial

impact

„000 tonnes mln cubic metres „000 tonnes

(34%) 0% +15%

41

(5%) +79%

slide-42
SLIDE 42

FINANCIAL CALENDAR – 2013

42

Event Date FY 2012 Operational and Financial Results 3 April 2013 Q1 2013 Operational and Financial Results 18 June 2013 Q2 and H1 2013 Operational and Financial Results 12 September 2013 Q3 and 9M 2013 Operational and Financial Results Week of December 16th (TBC)

SEP 2013

M T W T F S S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

DEC 2013

M T W T F S S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31