UPC — Investor Presentation 2021

Nov 24, 2021

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UPC Technology Corp.
Investor Conference
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24 November, 2021

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02 Financial Performance 03 Q & A

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2021
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Investor Conference
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UPC Technology
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：
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•
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Chairman
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Matthew F.C. Miau
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：Yi
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•
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Revenue
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NT$51.9
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$1.75 Billion)
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•
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2021 YTD Sep.：NT$60.1 Billion (US$2.14 Billion)

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•
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Taiwan Stock Exchange listed (Y1989
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Specialty Logistics
Chemical Service
Core Global #1 30%
Chemical PA and Plasticizer market share
Supplier in Greater China
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2021 2021 -
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成法人說明會- Investor Conference
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8 Sites Deployment in Asia Over 4,000 Customers Worldwide

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Panjin, Liaoning
Zhenjiang, Jiangsu
Taizhou, Jiangsu
Nanchong, Sichuan
Taipei(HQ)
Zhongshan, Guangdong
Zhuhai, Guangdong
UPCHK
Linyuan, Kaohsiung
Bangkok,
Thailand
Ho Chi Minh,
Vietnam
Kuantan, Malaysia
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2021 YTD
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NT$60.1 Billion (US$2.14 Billion)
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Revenue Breakdown by Products

Sales Volume Breakdown by Regions

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Specialty Logistics
JP & KR
Anhydride 3% 2%
Europe
China
0.7 %
0.1 %
9% America 88.8 %
PVC
1.2 %
16%
ME & TW
SEA
Plasticizer Africa 3.3 %
4.8 %
0.8 %
70%
Oceania
0.3 %
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Y2021~2023 Production Capacity Expansion Projects
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Expansion capacity breakdown by products

Yearly expansion capacity (KTPA)

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4854
4804
4407
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50

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Expansion
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• converted to capacity of DEHP

• ** others : FA, UPR, POLYOL

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2021 2021 -
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成法人說明會- Investor Conference
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Plasticizers Expansion Projects
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Total plasticizers capacity will reach 3264 KTPA in 2022

Y2021 + 290 KTPA Y2022 + 326 KTPA

Panjin + 290KTPA 2021.Q4

Taizhou + 145KTPA 2022.4 Zhuhai + 145KTPA 2022.3 Linyuan + 36KTPA 2022.3

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2021 2021 -
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Specialty Plasticizers

General Plasticizers

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PA
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Expansion Projects
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Total PA capacity will reach 730 KTPA in 2022 Total MA capacity will reach 125 KTPA in 2023

Panjin, Liaoning 2022.06 PA + 70 KTPA (Steam +392 KTPA) 2023.01 MA + 50 KTPA (Steam + 425 KTPA)

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2021 2021 -
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Recovery PA/MA process waste heat to produce steam

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• Captive use :

• • plasticizer/PVC process

• • heating

• Captive use : • Turbine generator (TG)

• Surplus steam sold to adjacent plants

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Evaluation of v
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integration of the PVC
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China’s Dual carbon goals & Dual control policy • Carbide based PVC restricted • Favor to ethylene based PVC

Global PVC market demand expected avg. growth rate of 4% in the next 5 years

JiangZhong Ethylene process 1% Ethylene Chlorine process 21% China total PVC capacity 28000 KTPA EDC Carbide process 78% VCM Carbon Emission of PVC ethylene based PVC carbide based PVC PVC =2.25 t-CO2e/t PVC << =7.66 t-CO2e/t PVC

KTPA

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source : IHS & UPC
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2021 2021 -
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成法人說明會- Investor Conference
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Logistics & Service Business

Chemical storage tanks, warehouse storage, and related operations.

Provide comprehensive and JIT service

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Storage
capacity
Panjin
Tank (M3) 577,770
Warehouse (M2)
64,773
Jiangsu
Sichuan
Guangdong
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Road transportation and agency for general or dangerous cargoes.

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Number Load ca acit p y Tractor head 102 49MT Tail trailer 130 30MT

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Busines ~~s~~ Logistics & Service

Own 3[rd] party Liquid chemical Jetty (DWT) (DWT)

Terminal operations and pipeline transfer for bulk chemicals

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Panjin, Liaoning 50,000 (open in Dec. 2021) 10,000 Taizhou, Jiangsu 50,000

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Panjin Jiangsu Sichuan

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30,000

Zhenjiang, Jiangsu

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Zhongshan, 5,000 Guangdong Zhuhai, Guangdong 80,000

Guangdong

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(planning) Nanchong, Sichuan 500 X 2

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Logistics & Service Business

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• Located in Liaodong Bay New Area

• • Has two liquid chemical berths

Panjin Jetty will start operation in Dec. 2021

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• The most convenient and nearest port in the vast northeastern region

• One of the few terminals that can load and unload a variety of chemicals

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Develop Green Production，Achieve Net-Zero goal

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• Build green supply chain

• Carbon capture and utilization (CCU) project

• Develop eco-friendly and low-carbon products

• Develop renewable energy

• • Improve process •

• technology to Join Malaysian Net Energy reduce energy Metering (NEM) 3.0 consumption program

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• Recycling and reuse of waste water and rainwater

• Implement circular economy

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Development route of Green Plasticizers

CO based 2 (biodegradable) - Bio based

Hydrogenated - High Vegetable oil carbon • ESBO chain DINCH (UN899) • DOS • UN9138 Non INA-based plasticizers • • UN9375 Phthal DINP • ates DINTP Polymeric • DINA • UN9430 • Terephthalate Plasticizer • TINTM • UN9470

• Polymeric Plasticizer

• Linear Plasticizer

DEHP, DBP

• Adipate Plasticizer

• Trimellitate Plasticizer

• 2021 聯成法人說明會

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Implement circular economy REUSEREDUCE
RECYCLE
waste resource Value-added products
FA -
FA acid sludge Secondary Plasticizer UN510 D
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R-Alcohol Secondary Plasticizer DOP D / heat recovery
Plasticizer
Plasticizer cake PVC Compound
Waste heat Steam
PA waste water FA
PA/MA
PA-light Viscosity reducer , Polyol, UPR / heat recovery
Flue gas CO2 recovery Biodegradable Polyol, plasticizer, plastics
PTA DOTP
Recycled
PET Bottle
MEG UPR
2021 2021 - UPC 聯成法人說明會- Investor Conference 15
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1
6
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capture and
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(under R&D)
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t Use recycled CO2 o develop biodegradable chemicals & specialties

Recovery CO2 from flue gas

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PA plant
Biodegradable plasticizer
Biodegradable polyol
MA plant
Biodegradable plastics
Other specialty chemicals
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2021 2021 -
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成法人說明會- Investor Conference
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Reduce
carbon emission
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Reduce
plastic waste
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Major e
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saving and carbon
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reduction measures
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Steam to
power
(waste heat)
79%
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e MT Carbon reduction (CO2 ) ( )

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Recovery
Recovery
alcohols distillation
residue as fuel
as fuel
8%
12%
Add Text
FIBC (Flexible
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33,246

28,989 equal to 75 times carbon absorption of Da'an Forest Park Per year

equal to 86 times carbon absorption of Da'an Forest Park Per year

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1.2% 0.1%

2021/Q1~Q3

2020

17

*** CO2021 2 absorption capacity of Da'an Forest Park : 384.6 MT/y聯成法人說明會**

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recycle
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Management
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from PA & plasticizer process
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Water recycle volume (MT)

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2021 2021 -
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901,849
812,406
equal to equal to
water consumption of water consumption of
361 Olympic standard 325 Olympic standard
swimming pools swimming pools
2020 2021/Q1~Q3
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成法人說明會- Investor Conference
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Future Prospect

• SCOPE & SCALE Dual Strategy

• Increase market share to maintain PA & Plasticizers market leadership.

• Develop eco-friendly products to build green supply chain.

• Upstream vertical integration.

• Chemicals business combined with logistics to provide comprehensive and professional service.

• Develop circular economy and green production to achieve Net-Zero goal

• Uphold the corporate culture of “Honesty, Prudence and Pragmatism“. Aim to become a sustainable company.

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Financial Performance
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Billion (NTD)

2016~2021/Q3 Consolidated Revenue

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2021/Q1~Q3 Revenue : 60 Billion NTD (YOY growth +71%)

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2021/Q1 Q3 Revenue Breakdown Major Products Revenue YOY Growth
- -
Products vs
by 2021/Q1 Q3 2020/Q1 Q3
Billion (NTD)
+98%
Total Revenue
60 Billion NTD
+37%
+42%
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2016~2021/Q3 Net Income after Tax & EPS

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Billion (NTD)
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EPS (NTD)

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(%)
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2016~2021/Q3 Financial ratio：Solvency (%)

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(%)
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2016~2021/Q3 Financial ratio：Financial structure (%)

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2016~ 2021/Q3 Capital Expenditures

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Billion (NTD)
2021/Q4
2021/Q1~Q3
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2021 UPC Investor Conference

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Disclaimer

• This presentation may contain forward-looking statements that reflect the current assumptions, estimates and our own information and other sources information now available planning, based upon

• to us so far. These information including all business prospects or forward-looking statements may be affected by unknown risks, uncertainties and other factors up to change or cause actual results to differ materially.

• Meanwhile, this presentation is not intended to represent complete statement of the Company (UPC), industry or future development.

• Except as required by law, we undertakes no obligation to publicly update or revise the information contained in this presentation, whether as a result of new information, future events or otherwise.

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Commitment to a Better Tomorrow

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2021
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Investor Conference
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www.upc.com.tw