| UK CASE STUDY: WELLMAN ¦ Acquired by AURELIUS in July 2007 from US corporate Situation ¦ Business was generating sales of€ 100m &EBITDA of €2m ¦ Wellman International was under invested ¦ Manufacturing processes were inefficient ¦ Product portfolio strategy needed review Complication ¦ Wellman became Europe’s largest recycler of PET bottles &leading producer of polyester staple fibre products ¦ Increase of sales to €140m and EBITDA to €10m (2011) ¦ Sale to Indorama offered an opportunity to combine a global leader in virgin polyester (based in Bangkok, Thailand) with a leader in recycled polyester ¦ Valuation: €42m (Enterprise Value) ¦ Cash Multiple: 5.8x investment Solution ¦ Operational approach / Carve-out experience ? Substantial investment in plant equipment and infrastructure l

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