The 24th PCI Wood Mackenzie

European Polyester Industry Conference 30 September – 1 October 2016 / Budapest Global Economy / Oil & Feedstocks / Paraxylene / PTA & Isophthalic Acid / Ethylene / EO & MEG / Asia Polyester / Polyester Fibres / PET Resin / PET Sustainability

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The 24th PCI Wood Mackenzie European Polyester Industry Conference 30 September – 1 October 2016 / Budapest

¥¥ Develop your business strategies and identify competitive opportunities for 2017 ¥¥ Network with colleagues from across the polyester industry ¥¥ Understand the mechanics of the global polyester value chain ¥¥ Catch up with colleagues and partners ahead of EPCA 2016

Understand how global market forces are felt throughout the polyester raw material and downstream industries. Key questions the market is facing include: ¥¥ Oil prices may be recovering, but is there sufficient demand to make it

sustainable? ¥¥ European recovery continues to be fragile. How will industrial surpluses in

China affect exports? Will the region’s polyester industries feel additional pressure? ¥¥ Crude oil values have bounced back this year as supply/demand has slowly

rebalanced but how far can this recovery go? ¥¥ The European aromatics industry has been seeking exports to North America,

where cutbacks in production of paraxylene are taking place. What will happen when further investments are introduced in the Middle East? Where will the additional volume go? ¥¥ Can Europe’s EO-MEG and EOD producers survive the emerging threat of

huge EOD capacities in Saudi Arabia? ¥¥ European PTA markets are increasingly dependent on imports, with Asian

PCI Wood Mackenzie Over the past 30 years, we have built the leading consulting business in the chemicals, polymers and fibres sector. Our integrated research combines short term commercial insight with long-term strategic analysis, offering you insight on these complex, interdependent markets and the forces that drive them, throughout the product chain. Fully integrated with Wood Mackenzie’s upstream, refining, metals and mining research, we provide a detailed, accurate and tailored view of the leading chemistries, intermediates and end products. Together, we can help you to capture the best opportunities today as well as targeting future growth. To find out more, visit www.woodmac.com/pcigroup

suppliers benefitting from extremely low freight costs to Europe. Is this sustainable? ¥¥ Can we expect prolonged higher isophthalic acid pricing and could plant

outages materially impact PET production in the next two years? ¥¥ Supply/demand for PET resin is strengthening, as inventories are being strictly

controlled. Does this mean European producers can generate premiums over imports? What lies ahead for the recycle industry in a low oil environment? ¥¥ Polyester fibres continue to dominate the textile industry, but will this be

sustained and what supply pressures exist in cotton and viscose? Europe is a major importer of filament and staple but faces a growing threat from staple investments in Turkey. What does this mean for future trade measures? Will Asian fibres be redirected here?

Join industry leaders from across the world to discuss the latest analysis on the global economy, product pricing and supply/demand developments with our seasoned consulting team. Extend your networking opportunities ahead of EPCA 2016 and join our drinks reception the PCI Wood Mackenzie team to discuss ideas informally.

The 24th PCI Wood Mackenzie European Polyester Industry Conference 30 September – 1 October 2016 / Budapest

Global Macroeconomic Outlook: lower for longer?

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Global economic growth – when will the upturn come? Dealing with excess capacity in China’s industry The emerging consumer – prospects for consumption in emerging markets The implications of ageing demographics

Ethylene: Navigating through the current investment cycle and beyond

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Jonathan Butcher | Wood Mackenzie How do rising crude prices impact the outlook for chemical feedstocks?

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Global crude oil market is re-balancing – how high do crude prices go?

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How competitive is the transatlantic PX asset base from the growing import threat from the ME & Asia? Trade impact of PCI Wood Mackenzie’s outlook on PX feedstock values in the regional gasoline systems

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YJ Kim | PCI Wood Mackenzie

Was 2015 an anomaly for Europe, where are we in the ethylene cycle?

PET: Has the Bottom of the OverInvestment Cycle been Reached?

Lower demand in China and more production globally will lead to greater surpluses. Where does the reality of coal based MEG lie in China - globally and what impact might it have? Is coal based technology moving forwards? What threat is posed? European supplies of MEG, will they be affected by these technologies? Where will greater Europe source its MEG demand? Where will the fate of European producers lie? Survival or extinction?

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China is now importing >30% of global PX production: what will China do next?

PTA: Overcapacity - has the tide turned?

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Gordon Haire | PCI Wood Mackenzie

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Are EU PTA imports sustainable How have lower freight rates from Asia to EU/ME changed the landscape Are PTA imports to Middle East set for a period of decline Have European PTA margins hit the bottom of the cycle Isophthalic acid - a minor raw material but is it set to have a major impact

Phil Marshall | Wood Mackenzie

Changes in the global market balance for PET Key issues for Europe in the global environment Inter-regional trade; can domestic producers sustain a premium price versus imports? Global trends in PET pricing and margins PET Recycling; will it survive the low crude oil environment?

Market drivers in European polyester fibres

Paul Clarke | PCI Wood Mackenzie

Global PTA overcapacity remains but rationalisation in China

The impact on PTA margins from real asset utilisation

David Swift | PCI Wood Mackenzie

More transatlantic capacity rationalisation and selective capacity growth: could both happen?

Just how scarce will Metaxylene become and what are the price implications?

Will China continue to dominate polyester chain pricing through this transition?

Saudi Arabia feedstock pricing reform – what it means for ethylene costs

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How much capacity will be scrapped, how much will be sustained?

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MEG: The calm before the storm?

Gasoline strength – how will the regional dynamics impact the value of aromatics feedstocks?

Key country by country analysis on the pace of restructuring in Asia

A closer look at China – how is supply and demand evolving for ethylene derivatives?

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Patrick Kirby | Wood Mackenzie

Transatlantic PX: How robust are the assets to the growing surpluses in the Middle East and Asia?

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Global ethylene supply/demand balance and cost curve evolution

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Ethane, LPGs and naphtha – when does the advantage for light feedstocks return?

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Global projects update – where and how fast is the new capacity coming?

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Gas – do US gas prices stay low?

Alan Gelder | Wood Mackenzie

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What is the preferred feedstock in a low oil pricing environment?

The pace of restructuring in Asian PTA and Polyester

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Key changes in global fibre mix – cotton crisis and viscose boom Can polyester continue its long-term share-steal from other fibres? Which product formats are winning in polyester – staple or filament? Role of European polyester fibre production versus imports Turkish drive in polyester – new investment / trade measures

David Hart | PCI Wood Mackenzie

The 24th PCI Wood Mackenzie European Polyester Industry Conference 30 September – 1 October 2016 / Budapest

Free Q&A Session: Friday 30 September An Introduction to PET & RPET Rigid PET packaging is the dominant format for beverages and is increasingly the material of choice also for packaging processed and non-processed foods as well as being used for other non-food products. Its success arises from excellent performance properties and the relative ease by which containers can be recycled thereby avoiding landfill disposal. The ability to recycle is one of the drivers for continued demand growth as brand owners recognise the contribution it can make to developing a sustainable and socially accepted business in the long term. The low crude oil environment is testing the industry’s ability to maintain and grow collection and reclamation, which is affecting downstream demand patterns and, if sustained, may reduce commitment to recycled content. Join us on Friday 30 September for an informal 1.5 hour Q&A session dedicated to exploring issues related to the use of PET & RPET in rigid packaging applications. Designed for those new to the business, as well as established industry participants with specific questions relating to PET and RPET. Topics may include: ¥¥ PET pricing structure ¥¥ PET price reporting ¥¥ Market Dynamics ¥¥ Technical issues ¥¥ Green issues and the future of RPET ¥¥ PET trade

This free-of-charge session is only open to registered delegates for the European Polyester Industry Conference on Saturday 1st October. Places will be limited to 20 delegates and offered on a first-come, first-served based.

All conference delegates are welcome to join us on Friday 30 September at 1700 for a Drinks Reception at the Hotel Boscolo, providing further networking opportunities with the PCI Wood Mackenzie team and industry colleagues, ahead of the European Conference.

The 24th PCI Wood Mackenzie European Polyester Industry Conference 30 September – 1 October 2016 / Budapest

Registration Form Delegate Information

I would like to reserve 1 place at the European Polyester Industry Conference @ €1,250*

Friday 30 September 2016: An Introduction to PET and RPET Q&A Session 1515-1530: Registration for PET and RPET Session 1530-1700: PET and RPET Q&A Session 1700-1830: Drinks Reception (open to all delegates)

Number of additional places @ €1,100*

Saturday 1 October 2016: 24th Polyester Industry Conference 0800-0900: Registration & Welcome Buffet Breakfast 0900-1700: Conference 1700-1830: Drinks Reception (open to all delegates)

Signed:

(Timings are indicative and subject to final agenda confirmation)

Venue The Boscolo Budapest Erzsébet krt. 9/11 1073 Budapest Hungary Phone +361 886 6111 Registration Fees include conference admission, conference documentation, soft copy presentation downloads, continental breakfast buffet, lunch, refreshments and Drinks Receptions. Attendees are responsible for individual transportation/accommodation costs and all other expenses outside of those listed in Delegate Information.

I would like to attend the Saturday Drinks Reception (FOC) I would like to attend the Introduction to PET & RPET Q&A Session (FOC) I would like to attend the Friday Drinks Reception (FOC) I have read the Cancellation Policy and accept the terms as stated Date:

* Prices quoted are excluding 27% Hungarian VAT, which must be added to all invoices in accordance with Section 42 of the Hungarian VAT Act and Article 53 of the European Principal VAT Directive (2006/112/EC)

CANCELLATION POLICY: All cancellations must be made in writing to the address/email shown below. In the event of cancellation before and including 1 September 2016 an administration fee of 20% will be deducted. For cancellations after 1 September 2016 no refund will be given although substitutions can be made at any time, free-of-charge. Note: The organisers reserve the right to change the venue/programme at any time.

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