Contents 1. SK Group Overview 2. SKEC Overview 3. Capability Highlights

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2 Contents 1. SK Group Overview 2. SKEC Overview 3. Capability Highlights 2

3 1. SK Group Overview 3

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6 Energy & Chemicals (35 Companies) -E&P, Refinery, LPG & GAS Supply, Power, Chemical & Petrochemical Telecommunications (30 Companies) -Mobile Network Operator, U-City, Satelite, Communication, Internet TV Trading & Services (25 Companies) -Trading, Logistics, Hotel, Engineering & Construction, Securities SK Energy E&P / Refining / Chemicals (MS 40%/ No.1 in Korea) SK Telecom Mobile Comm. Service (MS 51%/ No.1 in Korea) Engineering & Construction SK Chemicals Fine Chemical SK C&C IT / System Integration SK Networks Trading / Logistics Coal E&P SKC Film / Display SK Telink Int l Long Distance Call SK Shipping Transportation SK E&S Gas Supply / Power (MS 25%/ No.1 in Korea) SK Communications Portal/Social Networking Walkerhill Hotel SK Gas LPG Gas SK Broadband VoIP, IPTV SK Securities Securities & Futures 6 6

7 2. SKEC Overview 7

8 Established : 1977 Resources : Over 7,000 people Revenue : U$ 4.1 billion (2010) Backlog : U$ 18.5 billion (2010) 8

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11 11 Technical Advisor Jason Rhie SKEC USA Daniel Ju Plant CIO Jorge Ungo Planning & Mgmt Support Manager of Operations Marketing Roy Yoon Keith Clauss James Kwon Admin/Account Project Project EPC Function Jason Rhie HR Mike Lee Thomas Lim Charles Jeong MKT Branch Planning RDP BEP ERP Phase I ERP Phase II I&C Electrical CSA Engineering Biz. MGT PJT Support Chuck Lively Process PEM Mech. Piping PJT Planning & Control Estimating Process Tech. Procurement GPO Construction QA HSE IM&T Proposal / PJT Manager Calgary Quito Bogota Mexico City Julio Rios Contract

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13 13 Project JURONG AROMATICS COMPLEX PROJECT Product Category Pet rochemical Client Duration Description Jurong Aromatics Corp. PTE, Ltd (SIN GAPORE) May 2011 ~ May 2014 (36 mo.) Paraxylene (800,000 MTPD) Orthoxyene (200,000 MTPD) Benzene (438,000 MTPD) Zet Fuel (900,000 MTPD) Diesel (580,000 MTPD) MANABI REFINERY FEED Refinery RDP(Refineria del Pacifico) : PDVSA (49%) + Petroequador (51%) (ECUADOR) Mar 2010 ~ Sep 2011 (18 mo.) GRASSROOTS REFINERY (300,000 BPSD) LPG4 Gas Kuwait National Petroleum Company (KNPC) (KUWAIT) Dec 2007 ~ Feb 2011 (38 mo.) Gas Compression,, Dehydration, Stripping, NGL Recovery, Fractionation GLADSTONE LNG PROJECT LNG Gla d st o n e LNG PTY., Lt d (AUSTRALIA) Jul 2008 ~ Jan 2009 (6 mo.) Liquefaction (1.5 MMTPY) RRC UPGRADING PROJECT Refinery Rayong Refinery Public Co., Ltd (THAILAND) Sep 2007 ~ Dec 2008 (16 mo.) Fractionation (57,700 BPSD) Sweetening (30,000 BPSD) LBO NO.3 PLANT PROJECT Refinery SK-PATRA (INDONESIA) Apr 2006 ~ May 2008 (26 mo.) Vacuum Distillation (25,000 BPSD) Catalytic Dewaxing (9,000 BPSD)

14 Engineering - Organization SKEC operates three Engineering offices globally at Seoul Office(SKEC), SKEC USA and SKEC India. Each office closely operates based on Peak & Valley workload and specially Houston office is focused on Front End Engineering Design(FEED)work with global talent engineers Global Procurement Office Representative Office SKEC Saudi Arabia SKEC SKECA SKECI - SKEC HQ : 6,000 People - SKEC India: 500 People - SKEC USA : 200 People Total: Over 6,700 People 14

15 Procurement - Organization SKEC operates seven global procurement offices(gpo) in order to purchase materials through world-wide networks Frankfurt L.A. SKEC Kuwait Shanghai (GPO) SKEC USA Abu Dhabi Bangkok SKECI 15

16 3. Capability Highlights 16

17 Plant Life Cycle Total Solution Provider Operation Improvement Training Feasibility Study SK delivers Total Solution 1. One Stop Total Solution Financing 2. Differentiated Values Operation & Maintenance Total Total Solution Solution Provider (TSP) Provider FEED - Technical Collaboration w/ski - Project Development/ Financing Initial Start-up - O&M Services Engineering - Marketing & Trading Commissioning Construction Management Procurement - Training Services 17

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22 22 Cadereyta Project : U$ 2.4 Bil ( 97) - Today s value U$ 7.2 Bil - Grassroot & Revamps ( 24 Units) Madero Project : U$ 1.6 Bil ( 99) - Today s value U$ 4.8 Bil - Grassroot & Revamps ( 28 Units)

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25 Korean ECA (Export Credit Agents) are providing various support programs to promote export and investment of Korean Companies K EXIM K SURE Program Export Credit Overseas Business Credit Export Credit Condition Korean content is more than 25% of Off shore Korean investor holds at least 10% of equity through the loan life Korean content is more than 30% of Off shore Credit Amount Maximum 200% of Korean content (Ceiling as 85% of Off shore) Up to 50% of Loan 85% of Off shore + 30% equivalent of Off shore on On shore Type Interest 55%: Direct Loan, 45%: Guarantee to Lenders Libor + Applicable Margin (for Direct Loan) Comprehensive Political Insurance to Lenders Commercial Lenders Interest separately applied Cover Fee TBD (for Guarantee to Lenders) based on risk profile Minimum Premium rate + exposure fee Tenor Up to 14 years based on cash flow, sector, country Flexible Does not regulated by OECD guideline Up to 14 years based on cash flow, sector, country Fee Upfront/Commitment Upfront/Commitment Commercial Lenders Upfront/Commitment Fee separately applied Key Components of TSP SK Group Value Partner Critical Enabler + Financing : K-Exim, KSURE, etc. Operation : KOSEP, etc. Tech/Licensor : Shaw,etc. Consulting : KBC, etc + Equity Participation Creative Financing EPC, Technology, Off-take, O&M, Equity Financing TS Contents Development through a variety of partnership Secure Project through the Equity Participation 25

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27 3. SK Capability as a Total Solution Provider (Example 2) Equity Debt SK Group (30%)* Others (70%) KEXIM (Direct, Coverage) Commercial Loan Founding Shareholder 20% Sangfangxiang (SFX) 25% Others*** 25% K-SURE (Coverage) Subordinated Loan Working Capital * ** Glencore, EDBI etc. 25.6% 74.4% Commodities & Raw material Supplier Global Oil & Gas Company Feedstock Supply PROJECT Offtake FEED &EPC Contract O&M Contract PX, BZ, OX, Petrochemical Product ISBL OSBL 27

28 28 3. SK Capability as a Total Solution Provider (Example 2) Financing Advisor Feed Supply Petroecuador PDVSA Off Take Petroecuador PDVSA Int l Trader Potential Financing Arrangement KEXIM (Direct Loan + Coverage) KEIC (Coverage) DB, BNP Paribas, etc. (Commercial Bank) + Multi ECAs (China-EXIM, JBIC, EDC, ECGD etc.) and MLA Debt (70%) F/S Completed Ecuadorian Venezuelan Crude RDP (Refineria Del Pacifico) (SPC) CEP, SEA Contract LPG Gasoline Diesel Kerosene On going FEED Equity (30%) EPC Petroecuador 51% PDVSA 49% O & M RDP (SPC) Shareholder s Structure shall be change if 3 rd party is invited. SKEC intend to be IPP developer in Power block separately + Other EPC Contractors

29 3. SK Capability as a Total Solution Provider (Example 2) (e.g.) IGCC Developing Structure SKEC is ready to collaborate with the companies who need SK. 29

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