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  • 1. Celanese 2007 Investor Day December 11, 2007 St. Regis Hotel, New York
  • 2. Introduction/Agenda Mark Oberle Vice President, Investor Relations and Public Affairs
  • 3. Agenda Celanese Corporation 2007 Investor Day 7:30 a.m. Registration & Continental Breakfast 8:30 a.m. Introduction/Agenda Mark Oberle, Vice President, Investor Relations and Public Affairs 8:35 a.m. Pursue. Premier. David Weidman, Chairman & CEO 9:00 a.m. Advanced Engineered Materials Sandra Beach Lin, Executive Vice President and President, Ticona 9:25 a.m. Consumer and Industrial Specialties Doug Madden, President, Acetate, AT Plastics and Emulsions & PVOH 9:50 a.m. Morning Break 10:00 a.m. Acetyl Intermediates John J. Gallagher III, Executive Vice President and President, Acetyls and Celanese Asia 10:25 a.m. Global Operational Excellence Jim Alder, Senior Vice President, Operations & Technical 10:50 a.m. Value Creation Steven Sterin, Senior Vice President and Chief Financial Officer 11:15 a.m. Closing Comments & Final Q&A David Weidman, Chairman & CEO 12:00 p.m. Luncheon 3
  • 4. Forward Looking Statements, Reconciliation and Use of Non-GAAP Measures to U.S. GAAP This presentation may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this presentation, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Certain of these risk factors are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. This presentation reflects four performance measures, operating EBITDA, adjusted earnings per share, net debt and adjusted free cash flow as non-U.S. GAAP measures. The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for operating EBITDA is operating profit; for adjusted earnings per share is earnings per common share-diluted; for net debt is total debt; and for adjusted free cash flow is cash flow from operations. ►Operating EBITDA, a measure used by management to measure performance, is defined as operating profit from continuing operations, plus equity in net earnings from affiliates, other income and depreciation and amortization, and further adjusted for other charges and adjustments. We provide guidance on operating EBITDA and are unable to reconcile forecasted operating EBITDA to a GAAP financial measure because a forecast of other charges and other adjustments is not practical. Our management believes operating EBITDA is useful to investors because it is one of the primary measures our management uses for its planning and budgeting processes and to monitor and evaluate financial and operating results. Operating EBITDA is not a recognized term under U.S. GAAP and does not purport to be an alternative to operating profit as a measure of operating performance or to cash flow from operations as a measure of liquidity. Because not all companies use identical calculations, this presentation of operating EBITDA may not be comparable to other similarly titled measures of other companies. Additionally, operating EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements nor does it represent the amount used in our debt covenants. ►Adjusted earnings per share is a measure used by management to measure performance. It is defined as net earnings (loss) available to common shareholders plus preferred dividends, adjusted for other charges and adjustments, and divided by the number of basic common shares, diluted preferred shares, and options valued using the treasury method. We provide guidance on an adjusted earnings per share basis and are unable to reconcile forecasted adjusted earnings per share to a GAAP financial measure because a forecast of other charges and other adjustments is not practical. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding various financial and business trends relating to our financial condition and results of operations, and that when U.S. GAAP information is viewed in conjunction with non-U.S. GAAP information, investors are provided with a more meaningful understanding of our ongoing operating performance. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information. ►Net debt is defined as total debt less cash and cash equivalents. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding changes to the company’s capital structure. Our management and credit analysts use net debt to evaluate the company's capital structure and assess credit quality. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information. ►Adjusted free cash flow is defined as cash flow from operations less capital expenditures, other productive asset purchases, operating cash from discontinued operations and certain other charges. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding changes to the company’s cash flow. Our management and credit analysts use adjusted free cash flow to evaluate the company’s liquidity and assess credit quality. This non-U.S. GAAP 4
  • 5. Pursue. Premier. David N. Weidman Chairman and CEO
  • 6. Who is Celanese? Superior Value Creation Strategy ► Industry Leader Clear focus on growth and value creation ● Geographically balanced global positions Culture Leading Global ● Diversified end market Strong performance Integrated Producer exposure built on shared of Chemicals and ► Strong Cash Generation principles and Advanced Materials objectives ► Significant Growth Capability Execution ● Track record of execution Demonstrated track record ● Clearly defined of delivering results opportunities 6
  • 7. A leading global integrated producer Celanese 2007 Revenue1: $6.5B 2007 Op. EBITDA Margin (est.): ~20% Advanced Engineered Consumer and Industrial Acetyl Intermediates Materials Specialties 2007 Revenue1: 2007 Revenue1: 2007 Revenue1: $1.0 B $2.5 B $3.0 B 2007 Op. EBITDA Margin (est.):~25% 2007 Op. EBITDA Margin (est.):~15% 2007 Op. EBITDA Margin (est.):~25% ► ► ► Leading global producer Leading global producer Leading global integrated of engineered polymers of cellulose acetate producer of acetyl products products ► ► Strategic affiliates in Asia Significant presence in all ► Leading global producer three major regions of vinyl emulsion products 1 Represents 2007 estimated third party net sales 7
  • 8. An attractive intermediate and specialty business model Celanese Commodity Intermediate Specialty Consumer Oil & Gas Chemicals Products Products Products Motorola ► Exxon Dow* Dow* Rohm & Haas* ► ► ► ► ► Toyota ► BP ► Lyondell ► Eastman* ► ICI* ► Sherwin- ► Shell ► Methanex ► PPG* Williams ► FMC* ► Siemens Celanese 2001 2007 8 * Celanese internal peer group
  • 9. Geographically balanced global positions and diversified end market exposure Paints & Coatings Textiles Food & Beverage 15% 6% 5% Automotive Consumer & 9% 28% 44% 28% Industrial Adhesives 4% Consumer & Medical Construction Applications 7% 11% Chemical Performance Additives Industrial Applications 5% 4% Filter Media Paper & 16% Packaging Other 8% 10% Notes: End market breakdown based on 2007 estimated gross sales 9 Geographic breakdown based on 2007 estimated gross sales to external customers by destination
  • 10. Integrated businesses aligned to accelerate growth Differentiated Intermediates Specialty Products Building Block Acetate Consumer Specialties Anhydride (CS) Nutrinova and esters Acetic Acid Emulsions Industrial Raw VAM PVOH Specialties Materials (IS) AT Plastics Formaldehyde Ticona Advanced Engineering Acetyl Intermediates Engineered Polymers (AI) Materials (AEM) Affiliates 10
  • 11. Strong performance in an uncertain business environment 2007 Updated Guidance 2008 Initial Outlook Adjusted Operating Adjusted Operating EPS EBITDA ($MM) EPS EBITDA ($MM) Current $3.26 - $3.31 $1,285 - $1,295 $3.35 - $3.65 $1,280 - $1,350 Previous $3.10 - $3.20 $1,240 - $1,270 ► Execution of growth objectives ► Deliver on growth objectives ► Strong acetyl environment ► Continue to offset inflation through Operational Excellence ► Delivering on Operational Excellence objectives ► Volatile raw material environment expected to continue ► Mitigating raw material volatility ► Continued strength in Europe and Asia Increasing guidance and expecting strong 2008 earnings growth 11
  • 12. Since 2000, Celanese has executed against a simple strategic foundation FOCUS Participate in businesses where we have a sustainable competitive advantage Celanese INVESTMENT REDEPLOYMENT Divest non-core assets and Leverage and build on Strategic revitalize underperforming advantaged positions that Pillars businesses optimize our portfolio GROWTH Aggressively align with our customers and their markets to capture growth 12
  • 13. Today’s portfolio: more resilient and less volatile Operating EBITDA Margin ► 25% Current portfolio provides overall higher level of earnings 20% 20% ► Historic view with today’s 19% 19% 20% portfolio reflects significantly less 17% 19% 16% volatility 15% 15% 17% 15% Current portfolio range: 15% - 20% 16% Historic portfolio range: 10% - 20% ► One-third of portfolio is new to 10% 11% 11% 11% the company since 2000 10% ► Growth objectives will continue 5% to bolster portfolio 2000 2001 2002 2003 2004 2005 2006 2007E As Reported Pro Forma for Current Portfolio 13
  • 14. Today’s portfolio: higher growth, more specialty Operating EBITDA1 ► Strategic growth plans Advanced Engineered Materials Consumer and Industrial Specialties continue to accelerate Acetyl Intermediates 1,400 earnings of specialty businesses 1,200 ● Essentially all growth has come ~45% 1,000 $ in millions from specialty businesses 38% ● Two-thirds of 2010 Growth 800 Objectives expected from 600 specialty businesses ► Resulting in: 400 ~55% 62% ● Higher growth rates 200 ● Increased overall earnings - power of the portfolio 2005 2007E ● Reduced volatility 12005 and 2007E Operating EBITDA excludes Other Activities of ($122) and ~($100) respectively for the periods presented 14
  • 15. 2010 Growth Objectives are aligned with the strategic pillars Celanese 2010 Objective: $350-$400 $300-$350 million EBITDA Growth Balance Operational Asia Revitalization Innovation Organic Sheet Excellence ► ~$200 million ► Nanjing complex ►APL acquisition ► AI: sustained ► $140 million in ► AEM: 9% debt pay growth and estimated cost volume growth ● Launched ● Acquired down high industry improvements acetic acid EBITDA ► Growth in and emulsions utilization ► Debt ► Significant units ‘green’ ● Realizing ► AEM: refinancing improvement in applications ● 4 units under synergies to near- increased energy efficiency construction ►Announced plans investment lbs. per auto ● Announced grade for Industrial compounding unit Specialties ► $400 million ► AEM: direct to share China repurchase ► CS: continued growth of Acetate venture Increasing 2010 Growth Objectives relationships by $50 million to $350 - $400 million 15 Exceeding initial expectations
  • 16. Committed to delivering value creation Primary Growth Focus Balance Operational EBITDA Group Asia Revitalization Innovation Organic Sheet Excellence Impact Consumer and EPS Operating EBITDA X X X X Industrial >$100MM Specialties Advanced X X X X Engineered >$100MM Materials Acetyl X X X >$100MM Intermediates Celanese Incremental X X EPS Corporate $350 – $400 million increased EBITDA profile plus EPS potential by 2010 16
  • 17. On track and clear path forward to accelerate 2010 Growth Objectives Operating EBITDA Growth Objectives Advanced Engineered Materials 400 ► AEM: volume growth > 2X GDP Consumer and Industrial Specialties Acetyl Intermediates through further penetration ► CIS: Acetate continues $ in millions execution on revitalization 200 strategy; Emulsions/PVOH revitalization commences ► AI: Nanjing acetic acid plant startup leads integrated complex 0 2007 2008 2009 2010 17
  • 18. Asia: enhancing Celanese’s geographic lead 2007E Regional Split 2010E Regional Split Revenue Revenue Asia Asia ~35% 28% Earnings Earnings Asia1 Asia ~33% ~50% Approximately 50% of earnings from the fastest growing region Note: Revenue breakdown based on 2007 estimated net sales 18 1 Earnings breakdown based on 2007 estimated Operating Profit
  • 19. Asia strategy: high-return growth Celanese Nanjing Integrated Complex Investment Dynamics GUR® Celstran® Total investment: $300 - ► Warehouse Flare Unit Unit $350 million – over 80% complete Acetic Anhydride Vinyl Acetate Total revenue: $600 - $800 ► Unit Monomer Unit million when sold out by 2010 Incremental EBITDA: $120 - ► Acetic Acid Utilities / $150 million by 2010 Unit Tank Farm Emulsions Complex Administration & ROIC = 25 – 30% Compounding Maintenance 19
  • 20. Operational Excellence: offset inflation and drive sustainability objectives Fixed Cost/Reduction Above Inflation $1 billion year overall productivity 2010 Sustainability Goals 600 Injury rate Cumulative inflation $ million per year Greenhouse gases Air emissions 2007 progress Waste Energy 0 2001 2002 2003 2004 2005 2006 2007E 0 20 40 60 80 Fixed Cost Reduction % Reduction versus 2005 20
  • 21. Results have led to significant value creation Enterprise Value2 Cumulative Adjusted Free Cash Flow 2,500 10,000 2,000 8,000 1,500 $ in millions 6,000 $ in millions 1,000 4,000 500 2,000 0 0 2000 2001 2002 2003 2004 2005 2006 2007E YE 2000 IPO Current 1 Cumulative Adjusted free cash flow Equity Net debt 1 Adjusted free cash flow calculated as cash flow from operations less capital expenditures less other productive asset purchases less operating cash from discontinued operations plus certain other charges 21 2 Enterprise value represents market capitalization (Current - as of December 7, 2007) plus net debt and minority interest
  • 22. Current balance sheet strategy for cash deployment Significant Value Creation High ► Cost reduction & revitalization projects ► Asset expansion – high Return on Capital Deployed/ growth area ► Core/bolt-on acquisitions Value Creation Returning Cost of Capital Return on of Realizing Value/ ►Difficulty Capital – low Asset expansion Deployed/ Skills orValue Creation Competencies Required growth area ► Share repurchase Returning Cash to Shareholders ► Dividend ► Debt repayment ► Hold cash Low Difficulty of Realizing Value/ Low High Skills or Competencies Required 22
  • 23. Bias for growth and high-return projects Significant Value Creation High ► Cost reduction & revitalization projects ~75% of ► Asset expansion – high Return on Capital Deployed/ Capital growth area ► Core/bolt-on acquisitions Deployed Value Creation Returning Cost of Capital Since 2005 ► Asset expansion – low growth area 14% ► Share repurchase Returning Cash to Shareholders ► Dividend ► Debt repayment ► Hold cash Low Difficulty of Realizing Value/ Low High Skills or Competencies Required 23
  • 24. Celanese core values: our DNA …sense of urgency… …a precondition… ► ► …performance driven… …highest standards… ► ► …think globally… …attract, develop and retain… ► ► …create growth opportunities… …continuously learn… ► ► 24
  • 25. Expectations from today’s meeting Portfolio is stronger, more resilient ► It’s the model – not the molecule ► Ahead of expectations and growth objectives ► More earnings growth opportunities identified ► Celanese culture: enabler ► 25
  • 26. Advanced Engineered Materials Sandra Beach Lin Executive Vice President and President, Ticona
  • 27. Advanced Engineered Materials: delivering performance driven solutions Celanese 2007 Revenue1: $6.5 B 2007 Op. EBITDA Margin (est.): ~20% Advanced Engineered Consumer and Industrial Acetyl Intermediates Materials Specialties 2007 Revenue1: $1.0 B 2007 Op. EBITDA Margin (est.): ~25% Korea Engineering Fortron Industries Polyplastics Ticona Plastics Ownership 50% Ownership 45% Ownership 50% 2007E Total Affiliate Revenue2 $1.3 B > 2X GDP volume growth ► Comprehensive portfolio of high-performance engineering polymers ► Innovation in automotive and non-automotive applications drives earnings growth ► China expansion is platform for further penetration into end-use applications ► 1Represents 2007 estimated third party net sales 27 2Equity affiliates total revenue not included in AEM results
  • 28. Well positioned for continued growth ► Premier Franchise Differentiated business model Sustained performance ► Growth through Innovation and Technology Capitalize on Megatrends Asia expansion 28
  • 29. Providing valuable solutions to extreme requirements AEM “Sweet Spot” Excellent Intensive Engineering ► Highly Specification- ► Products Driven Functional Parts Leading-Edge ► Technical, Market and Highly engineered polymers – Application Expertise high performance portfolio Extreme Extraordinary Requirements Engineering Collaborative engineering Precise applications right people – right place in complex – right time environments 29
  • 30. Excellent Products: value of technology and performance is realized in price $100 / kg Price for Performance $10 / kg $3 / kg $100/kg High-Performance Polymers (HPP) 5% $10/kg Engineering Thermoplastics (ETP) $3/kg others = 2% Performance Price Range Ranges PU = 6% 95% Standard Polymers $1/ kg PET = 7% ABS, SAN, ASA: 3% PS, EPS = 8% PVC = 17% PE = 31% PP = 21% $1/kg Range of Products 30
  • 31. High performance product portfolio with attributes that customers require Extreme Medical Chemical Abrasion Dielectric Functional Product Temperature Grade Resistance Resistance Strength Aesthetics ● ● ● ● ● Hostaform®/POM (Polyacetals) ● ● ● ● GUR® (Ultra-high molecular weight PE) ● ● ● ● ● Celanex® (Polyester engineering resins) Vectra® ● ● ● ● ● (Liquid Crystal Polymer) Celstran® ● ● ● ● ● (Long fiber reinforced thermoplastics) ● ● ● ● Fortron® (Polyphenylensulfide) 31
  • 32. Extreme Temperature Range of Temperature Requirements Hostaform® GUR® Riteflex® Fortron®, Vectra®,Celstran® Celanex Critical Part Specification Bulk polymers PET, PEN Bulk polymers PP, PE, PVC Continuous Use Temperature (40)°F extreme cold 600°F extreme heat Ticona polymers 32
  • 33. Extreme Requirements: precise applications in complex environments No Industry Demands More Than Medical Systems Competitive Products Ticona High Requirements PP PET Temp. PA POM + = + + FDA compliance + + - = Chemical resistance + = - = Steam sterilization + - - + Dimensional stability + + - - Wear resistance + - + + FDA drug master file ++ = Value-in-use = - Ticona POM: Only polymer that meets ALL requirements 33
  • 34. Extraordinary Engineering: right people – right place – right time Engineered Polymers Industry Supply Chain Material and Performance Specifications AEM Raw Converter Manufacturer End-use ● Monomer & Material ● Injection ● Components polymer Customer Supplier ● Finished producer molding ● Compounder ● Extrusion goods AEM Solutions – processing expertise and material performance 34
  • 35. Intellectual capital enables performance-driven solutions OEM Specification Prototype Opportunity Generation Part Design Testing Modeling & Simulation Part Validation ► Overall development cycle: 18 - 24 months ► ~70% of Ticona business is specification-based 35
  • 36. Case study: orthopedic replacement joints Excellent Products GUR® UHMW-PE Exceptional Defensibility Medical grade ► Abrasion resistance ► Human cartilage ► replacement Extreme Extraordinary Requirements Engineering Product chemists – ► Bio-compatibility ► bridging requirements and Wear resistance ► polymer properties Impact strength ► Product stewards – ► ensuring regulatory compliance FDA compliance ► Mechanical designers – ► translating the polymer into the molded part GUR®: Only engineered polymer approved for hip and knee replacements 36
  • 37. Broad range of end-use applications to targeted niches… Revenue by End-Use 2007E ~ $1 billion Medical 5% Transportation 47% Other 6% ● Fuel systems ● Drug delivery systems ● Safety systems ● Medical implants ● Mechanical components Alternate Fabrication 12% Electrical & Electronics 8% Consumer & Appliance Industrial 10% 12% ● Emissions filtration ● Textiles ● Communication systems ● LED lighting ● Connectors ● Water purification ● Fluid handling ● Durable household goods ● Gearing ● Bakeware 37
  • 38. …requiring a consistent global brand experience Americas Europe China ► Application development ► Application development ► Application development ► Compound development ► Compound development ► Compound development ► Polymer development ► Testing ► Polymer development ► Testing ► Processing optimization ► Testing ► Injection molding ► Processing optimization 38
  • 39. 1,000s of products in 1,000s of applications across dozens of industries 39
  • 40. Sustained performance: proven track record of revenue and earnings growth Operating EBITDA and Revenue ► AEM has consistently 300 1,200 delivered continued sales and earnings growth Operating EBITDA ($ in millions) 225 900 ► High energy and raw Revenue ($ in millions) material costs compressed 2007E Operating EBITDA 150 600 Estimated impact of ~250 – 350 bps 75 300 ► Volume growth in both automotive and non- automotive applications 0 0 globally 2002 2003 2004 2005 2006 2007E Operating EBITDA Revenue 40
  • 41. Strong correlation between value delivered and specification strength Value of Specification Specification Strength ► Richness of portfolio ► Long-term customer Solvay relationships AEM Specification Strength ► Technical and DSM DuPont application expertise BASF LANXESS ► Global technical and DOW SABIC/PC manufacturing presence Lyondell/Basell Nova ► High value-in-use applications SABIC/Core ► Limited substitute materials Value Delivered 41
  • 42. Premier franchise Relative Financial Performance versus AEM Peer Group 15% Celanese AEM ► Fastest earnings growth Operating Profit as a % of Sales ► Highest relative DSM DuPont Solvay SABIC/SIP profitability GE Plastics BASF ► EBITDA multiple Solvay continues to trail peers DuPont despite continued Celanese AEM earnings strength DSM BASF 2003 YTD 2007 Peer group: corresponding segments of BASF, DSM, DuPont, GE Plastics, Solvay Plastics YTD 2007 figures include one quarter of GE plastics, now SABIC/SIP AEM results exclude certain other charges, COC divestiture and equity earnings from affiliates 42
  • 43. Well positioned for continued growth ► Premier Franchise Differentiated business model Sustained performance ► Growth through Innovation and Technology Capitalize on Megatrends ● Asia expansion ● 43
  • 44. Committed to delivering value creation Primary Growth Focus Balance Operational EBITDA Group Asia Revitalization Innovation Organic Sheet Excellence Impact Consumer and EPS Operating EBITDA X X X X >$100MM Industrial Specialties Advanced X X X X >$100MM Engineered Materials Acetyl X X X >$100MM Intermediates Celanese Incremental X X EPS Corporate $350 – $400 million increased EBITDA profile plus EPS potential by 2010 44
  • 45. An important contributor to the Celanese growth strategy Operating EBITDA Growth Objectives (versus 2006 Baseline) ► Volume growth > 2X GDP 100 ► Innovation in automotive and non-automotive applications drives continued earnings $ in millions improvement 50 ► Expansion in China provides platform for further penetration in end-use applications 0 2007 2008 2009 2010 45
  • 46. 46
  • 47. Power Empower sustainable technologies 47
  • 48. Technologies to reduce emissions and improve fuel efficiency Fuel cells Alternative renewable fuel sources help reduce CO2 Hybrid-engine systems Alternative fuels Engine combustion efficiency Development Advanced air management Weight time to full enhances engine reduction commercialization combustion efficiency 48
  • 49. Leading engineered polymers in emissions innovation and fuel efficiency Customer Requirements ► Chemical resistance ► Impact resistance ► Dimensional stability ► High heat Drivers: Alternative fuels – Bio-fuels ► 65 million lbs. 80 million lbs. Air quality ► acetal ETPs SORE emissions ► Legislation – environmental & safety ► in 2006 in 2010 Turbocharged Engine Fuel Module E85 Compatible Polymers Fortron® PPS Hostaform® XF Air Cooler 49 Source: Celanese estimates
  • 50. Emissions reduction beyond fuel systems Customer Requirements Metallic-look Hostaform®/POM ► Functional aesthetics ► Eliminates painting/plating ► Wear resistance ► Strength ► Reduces VOCs ► Color matching to interior painted metallic parts ► Saves $1 to $4 per vehicle Significant opportunity: currently only ~200,000 out of 120 million doors worldwide use metallic-look POM 50
  • 51. Safety Advance intelligent systems 51
  • 52. Vectra® LCP: Translating connector leadership into LED lighting Customer Requirements High flow ► Low emissions ► Dimensional ► stability Pinpoint light ► Drivers: source Improved safety ► Lower energy consumption ► $5.1 billion $17.4 billion Miniaturization ► Aesthetics ► in 2006 in 2017 Design trends ► Audi A8 Audi R8 LED Street Lamps Applying Connector Daytime Running 54 LEDs per Expertise to New Lights Headlamp Technologies 52 Source: Philips
  • 53. Life Enhance living comfort 53
  • 54. GUR® UHMW-PE: well positioned to provide solutions for global water filtration Customer Requirements ► NSF specification ► Proprietary binding agent to boost filtration efficiency Drivers: Population growth ► Global requirements ► 5.5 billion with 6.1 billion with Economical alternative to ► bottled water clean water clean water World Health Organization ► access – 2006 access – 2015 standards 20% GUR® Growth Shower Filter Faucet Filter Drinking Water Filter 2000 2003 2006 2008 2010 54
  • 55. Long history in Asia provides competitive advantage ► 40 years of experience in Asia through strong affiliate relationships ► Strong relationships with our customers in Asia ► Expanding model of local customer support and development ► Full range offering of leading products ► Investing in local manufacturing 55
  • 56. Nanjing provides platform for Ticona growth in Asia Fully Integrated Complex Celanese Nanjing Integrated Complex GUR® and Celstran® unit GUR® Celstran® ► Warehouse Flare construction underway and Unit Unit production expected in 2008 ► Acetic Anhydride Vinyl Acetate Recently announced addition of new compounding plant at Unit Monomer Unit Nanjing in 2009 ► Application development center in Shanghai Acetic Acid Utilities / ► Incremental contribution by Unit Tank Farm Emulsions 2010: Complex ~$100 million in annual ● sales Administration & Compounding Maintenance 56
  • 57. Technologies to reduce particulate emissions: coal-fired power plants Customer Requirements Chemical resistance ► High heat ► Drivers: Increased global power ► consumption 1,300 GW 2,100 GW More coal-fired power plants ► coal-fired coal-fired Air quality ► Environmental legislation ► power in 2006 power in 2020 Fortron® PPS Coal-fired Power Plant Air Coal-fired Power Plant Air Filter Bags Filter System 57
  • 58. Coal-fired power plants provide significant growth opportunity ► Characteristics of filter bags Flue Gas Cleaning Bag House for Coal-fired Power Plants Typically 6 inches in diameter and 26 feet in length Up to 20,000 bags used per house Life span of 3 to 5 years ► Filter bags contain an average of 4.0 to 4.5 lbs. of Fortron® PPS ► Electricity from coal in China will increase more than 80% by 2020 2006: 413 GW coal-fired power 2020: 760 GW coal-fired power 58
  • 59. Significant opportunity for increased penetration in high growth region Advanced Engineered Materials Global Auto Production Type of Resins China Japan 6 2001 U.S. Germany 13 2007E India S. Korea 2010E 18 China production France nearly doubles Highest Brazil within 5 years 40 Current Spain Model Canada 2006 Production China 2.5 Trend Current Production Growth 2006-2012 Mexico 0 3,000 6,000 9,000 12,000 15,000 Pounds per Vehicle Vehicle Production (Thousand units) Source: Global Insight Source: Celanese Estimates 59
  • 60. Translating auto application expertise to Asia Select Interior Fuel Delivery Systems Components Fuel reservoirs ► Instrument clusters ► Fuel limit valves ► Metallic-look controls ► Roll-over valves ► Safety restraints ► Fuel flanges ► Overhead consoles ► Fuel pumps ► Door Systems Structural Parts Window lifts ► Door locks ► Front-end modules ► Door modules ► Instrument panels ► Power motor housings ► Sunroof systems ► 60
  • 61. Application development requirement: a global network to serve global demand Application Development Center Frankfurt New Application Development Center Application Shanghai Development Centers Florence, KY Auburn Hills, MI 61
  • 62. Industry recognition of innovation Winner Of SPE Innovation Award BMW X5 Celstran® LFRT fender carrier ► ► Strong, lightweight Winner Of SPE 2007 Grand Innovation Award Mercedes-Benz C-Class Vectra® LCP active safety sensor ► ► Detects moisture, activates wipers, dries brakes 62
  • 63. AEM is well positioned for continued growth ► Premier Franchise Differentiated business model Sustained performance ► Growth through Innovation and Technology Capitalize on Megatrends Asia expansion 63
  • 64. Consumer and Industrial Specialties Doug Madden President, Acetate, AT Plastics and Emulsions & PVOH
  • 65. Consumer and Industrial Specialties: value-added specialty businesses Celanese 2007 Revenue1: $6.5 B 2007 Op. EBITDA Margin (est.): ~20% Advanced Engineered Consumer and Industrial Acetyl Intermediates Materials Specialties 2007 Revenue1: $2.5 B 2007 Op. EBITDA Margin (est.): ~15% Consumer Specialties Industrial Specialties 2007 Revenue1: 2007 Revenue1: $1.1 B $1.4 B 2007 Op. EBITDA Margin (est.): ~25% 2007 Op. EBITDA Margin (est.): ~8% Leading global positions in both businesses ► Significant consumers of Acetyl Intermediates products ► Downstream integration mitigates raw material volatility ► GDP+ growth ► 1Represents 2007 estimated third party net sales 65
  • 66. Committed to delivering value creation Primary Growth Focus Balance Operational EBITDA Group Asia Revitalization Innovation Organic Sheet Excellence Impact Consumer and EPS Operating EBITDA X X X X >$100MM Industrial Specialties Advanced X X X X >$100MM Engineered Materials Acetyl X X X >$100MM Intermediates Celanese Incremental X X EPS Corporate $350 – $400 million increased EBITDA profile plus EPS potential by 2010 66
  • 67. CIS: path to improved earnings Operating EBITDA Growth Objectives (versus 2006 Baseline) ► Ahead of schedule to deliver > $100 million in additional 150 >$100 million EBITDA by 2009 ► Consumer Specialties 100 Successful completion of Acetate $ in millions revitalization Integration of Acetate Products Limited (APL) acquisition 50 ► Industrial Specialties Revitalization of emulsions and PVOH businesses 0 Innovation in key customer 2007 2008 2009 2010 applications Globalization in emerging economies Consumer Specialties Industrial Specialties 67
  • 68. Consumer Specialties: stable earnings and cash generation Consumer and Industrial Specialties 2007 Revenue1: $2.5 B 2007 Op. EBITDA Margin (est.): ~15% Consumer Specialties Industrial Specialties 2007 Revenue1: $1.1 B 2007 Revenue1: $1.4 B 2007 Op. EBITDA Margin (est.): ~25% 2007 Op. EBITDA Margin (est.): ~8% Acetate Products Nutrinova Emulsions PVOH AT Plastics and Ventures Leading global franchises ► Stable, consistent cash flows ► Economically stable; minimal earnings volatility ► Closer to the final consumer ► Growth opportunities through continued innovation and customer partnerships ► 1Represents 2007 estimated third party net sales 68
  • 69. Acetate Products: execution of strategy continues to deliver earnings growth Timeframe 2004 2005 2006 2007 2008 2009 2010 ► Restructuring/Repositioning China venture tow expansions Complete Filament exit/site optimization Complete China venture flake expansion ► APL Acquisition Complete Integrate the business Capture/realize synergies ► Beyond 2008 Maximize cash generation Selective and sustainable growth Next moves: further Asia expansions 69
  • 70. Successful revitalization and strategy progress for Acetate Products ► Significant improvement to manufacturing cost structure Consolidated manufacturing footprint to lower-cost regions Closed the Edmonton flake plant in 1Q 2007 ► Completed planned China venture expansions – more than doubled Expanded flake plant in 2Q 2007 Increased dividend flow in 2007 and 2008E ► Acquired cellulose acetate flake, tow and film business of APL – adding ~$250 million in revenue Optimized Operations and Market Focus North America North America Europe Europe China Ventures 2005 2008E 2005 2008E 2005 to 2008E Flake 4 sites 2 sites 0 sites 1 site Expanded Tow 3 sites 2 sites 1 site 2 sites Expanded Filament 2 sites Fully exited 70
  • 71. APL Acquisition: a strategic fit Acetate Products Limited Benefits to Celanese ► Acquired ► Customers cellulose acetate flake, tow – Broadens mix and reach and film business of APL ► Integration – Enables European flake Purchase price ~$110 million production Additional $30 million for synergies ► Captive consumption - Increases downstream integration ►2 U.K. manufacturing facilities: Spondon ► Procurement ● and logistics – Network enhancements Little Heath – Closed 3Q 2007 ● ► Synergies – Full capture by 2008 Acquisition ~$20 Synergies million Manufacturing ► SG&A ► Purchased ~$20 ~$20 EBITDA million million Logistics ► 71
  • 72. Acetate Products: optimized global manufacturing footprint Spondon, United Kingdom Lanaken, Belgium Nantong, China Narrows, Virginia Kunming, China Zhuhai, China Ocotlan, Mexico Flake Production Tow Production Only integrated producer in each region of the world 72
  • 73. Strategically positioned for further expansion in growth regions Celanese Share of Global Acetate Tow Market Global Acetate Tow Market by Region (2007E) (2007E) 60% 60% CAGR 2005 – 2010E 2 – 3% 40% 40% 1 - 2% 20% 20% (1 – 2)% 1 - 2% 0% 0% Asia Europe Americas ROW Total 1 Asia 1 Europe Americas ROW Global Market Size: ~720kt 1Includesshare attributable to China ventures Source: Celanese estimates 73
  • 74. Consumer Specialties: successful revitalization and continued execution of current strategy CS Operating EBITDA 2004 – 2010E Acetate Products ► revitalization Growth Objective completed in 2007 350 Full synergy capture of ► 300 APL acquisition by Asian Growth1 2008 250 European Initiative Nutrinova to offset ► $ in millions 200 price declines with volume increases North America/Europe Revitalization 150 Modest growth beyond ► 2008: 100 Acetate Base Operating EBITDA Growth in Asia 50 continues at 2-3% Nutrinova Operating EBITDA per year 0 Sustainable Operating 2004 2005 2006 2007E 2008E 2009E 2010E EBITDA 1Dividends from cost investments 74
  • 75. Industrial Specialties: integrated technology solutions Consumer and Industrial Specialties 2007 Revenue1: $2.5 B 2007 Op. EBITDA Margin (est.): ~15% Consumer Specialties Industrial Specialties 2007 Revenue1: $1.1 B 2007 Revenue1: $1.4 B 2007 Op. EBITDA Margin (est.):~25% 2007 Op. EBITDA Margin (est.): ~8% Acetate Products Nutrinova Emulsions PVOH AT Plastics and Ventures Significant consumer of Acetyl Intermediates products ► Earnings improvement through revitalization ► Growth opportunities through continued innovation ► and globalization 1Represents 2007 estimated third party net sales 75
  • 76. Integrated model captures value and mitigates volatility Increased Value Reduced Volatility Technology and Production and Cycle Customer Driven Market Driven Earnings Improvement per volatility ~35% reduction Ton of Acetic Acid Profit Range per Ton ~30% of Acetic Acid ~10% Sell Acid Total Margin Sell VAM as Acid Margin Peak Average Trough as VAM Available VAE Profit Added Through Chain Acetyls versus Integrated Downstream ► Higher overall earnings through integrated chain ► Lower earnings volatility with downstream integration 76
  • 77. Strategy for earnings growth Revitalization provides the execution platform for earnings growth Revitalization ► Operational Excellence: Reliable, efficient asset utilization and cost reduction implementation ► Technology: Expanding Operational applications and margins Technology Globalization Excellence through innovation ► Globalization: Growth and increasing leadership position through expansion in emerging economies 77
  • 78. Operational Excellence: significant improvement in manufacturing cost structure ► North America Redeploying production portfolio – capitalize on low cost production Completed sale of AT Plastics films business ► Europe Exiting Warrington, Guardo and Roussilon production Expanding Geleen and Frankfurt sites ► Asia Completed construction of Nanjing emulsions unit in 4Q 2007 Optimized Operations and Market Focus North North Europe Europe Asia Asia America America 2006 2010E 2006 2010E 2006 2010E Emulsions 3 sites 3 sites 7 sites 5 sites 0 sites 1 site PVOH 2 sites 2 sites 2 sites 1 site 0 sites 0 sites AT Plastics 1 site 1 site n/a n/a n/a n/a 78
  • 79. Cost reductions and efficiency improvements enhance production capabilities Annual Production Capacity Growth Fixed Cost per Pound (2004-2008E) 175% Production Capacity (2004 = 100%) 120% Case study: systemwide reduction at two sites 150% 100% 125% 80% 100% 60% 75% 40% 2004 2005 2006 2007 2008E 2004 2007 2008E Frankfurt Perstorp ► Increase asset utilization at existing facilities ► Concept will be applied across the manufacturing footprint 79
  • 80. Technology enables access to expanded applications Paints & Coatings: 18% Adhesives: 34% Specialty/Other: 8% Mowilith® Mowilith®, Celvol®, Celvol®, Vinamul® DUR-O-SET® Ateva® Industrial Specialties Engineered Fabrics/ Paper: 11% Textiles: 13% Applications Automotive/ Construction: 5% Industrial: 11% Celvol®, Elite® Celvol®, Vinamul® DUR-O-SET®, Vinamul®, Ateva®, Celvol® Mowilith® End use breakdown based on 2007 estimated external sales for Industrial Specialties 80
  • 81. Technology enhancements open $1.0 billion of new opportunities Global Vinyl Emulsions Applications Driving 2010 Growth 2010E Growth 4.0 Applications Application >25% Rate Sales ($MM) ~30% 3.0 $ in billions ~25% Low VOC and nano $400 – $500 10+% increase in paints 2.0 vinyl space Engineered $200 – $300 3% - 5% fabrics/glass fiber 1.0 Enviro-friendly $100 – $200 8% adhesives 0.0 2006 2010E China building/ $100 – $200 30+% construction Others Celanese $1.0 billion expansion = >$250 million in revenue 81
  • 82. Case study: Celanese is the global leader in low-emission binders European Interior Paint Industry Development European VAE Success 50% VAE Share of Interior Paints EU VOC parts/liter VOC Content 0% 1996 2006 2010E 1990 Celanese Others 2006 ► European success driven by increasing consumer awareness and regulatory requirements of low-VOC products ► Celanese technology position: clear leader 82
  • 83. VAE industry opportunity: current regulatory trends in U.S. Current trends in U.S. following ► VOC Regulatory Trends for European precedent Flat to Semi-Gloss Paints In 2008, Southern California ► will further restrict emission 1999 requirements in paints US VOC grams/liter VOC (g/L): 250 – 380 Today, less than 25% of the ► interior paints meet the 2004 VOC (g/L): 100 – 150 contemplated guidelines $100 - $2001 per ton estimated ● cost for non-VAE emulsions to European Standard achieve standard U.S. interior paint opportunity ► 1999 2008 ~$1.0 billion VAE provides favorable substitution for low-VOC requirements 83 1 Based on Celanese estimates
  • 84. Technology provides access to new applications and improves earnings profile $8 Billion Global Emulsion Systems Global Emulsion Systems Expansion of Vinyl Solutions Customer-driven Product Innovation Vinyl Other Vinyl 40% Other 47% $3B $5B Vinyls Technology Extension $1B Target Space 2006 2010E Expanding the available application space ► Anticipating the future needs of a changing world ► Creating opportunities for favorable substitution and improved product mix ► 84
  • 85. Globalization: significant opportunities in high growth regions Percent of Celanese Emulsions Net Sales1 by Region 37% 62% 1% 1 Based 85 on 2006 sales
  • 86. Estimated Regional Balance - 2010 Percent of Celanese Emulsions Net Sales1 by Region 30 - 35% 50 - 55% 15+% 1 Based 86 on Celanese estimates
  • 87. Nanjing allows Celanese to capture significant growth in Asia Fully Integrated Complex Celanese Nanjing Integrated Complex 60 wet kt capacity ► GUR® Celstran® Warehouse Flare Construction completed in ► Unit Unit October 2007 Vinyl Acetate Acetic Anhydride Commercial sales ► Unit Monomer Unit underway Primary supply for ► customer locations in Acetic Acid Utilities / China and the rest of Asia Unit Tank Farm Emulsions Application development ► Complex center in Shanghai Administration & Compounding Maintenance Industrial Specialties Nanjing Phase 1 87
  • 88. Significant growth expected in China vinyl systems System Applications and Growth Rates China Latex Demand for China 4.5 500 13+% 19% Vinyl Growth 400 Systems $ in billions 12+% $ in millions 3.0 300 11% 200 30+% Other Growth 1.5 10+% Systems 100 0 0.0 Adhesives Coatings Construction Nonwovens 2005 2010E ► Industry trends driving significant growth in China ► Vinyl systems growing faster than other systems 88 Source: Kline and Celanese estimates
  • 89. Nanjing provides platform for vinyl systems growth in China through VAE China VAE 400 30% VAE industry in China growing ► at ~20% 25% R AG Began commercial sales in ► 300 C % 20 20% 2006 Celanese Share ~ VAE (kt) Nanjing unit operational in ► 200 15% 2008E 2007 10% Capturing growth at faster- ► 2007E 100 than-expected rate 5% Objective by 2010: ~25% of ► fast growing industry 0 0% 2006 2007E 2008E 2009E 2010E China VAE Projected Celanese Share 89
  • 90. Other emerging economies… the next frontier for emulsions Housing and Personal: India Average India Aggregate Consumption Consumption 1,800 1,500 1,500 $ in millions 1,200 1,000 2005 – 2025 CAGR: 6% USD 900 600 500 300 0 0 1985 1995 2005 2015 2025 1995 2005 2015 2025 Income Groups Low Middle Upper ► India: Our next focus of expansion ► India is poised to significantly grow its middle class ► Rising wealth and consumption will drive vinyl product demand at even greater rates ► India and China represent over 30% of the global population 90 Source: McKinsey&Co. 2007
  • 91. Consumer and Industrial Specialties: executing and exceeding our plan Consumer Specialties ► > $450 MM ● Successful completion of revitalization ● APL: acquire, integrate IS and realize synergies ~$350 MM Industrial Specialties: CS ► ● Revitalize Emulsion and PVOH businesses 2010E Achieve ≥ $100 ● Innovate new product 2006E EBITDA applications and million by 2009 EBITDA Profile technologies ● Expand globally in emerging regions 91
  • 92. Acetyl Intermediates John Gallagher Executive Vice President and President, Acetyls and Celanese Asia
  • 93. Acetyl Intermediates: leading global franchise of intermediate products Celanese 2007 Revenue1: $6.5 B 2007 Op. EBITDA Margin (est.): ~20% Advanced Engineered Consumer and Industrial Acetyl Intermediates Materials Specialties 2007 Revenue1: $3.0 B 2007 Op. EBITDA Margin (est.): ~25% Vinyl Acetate Acetate Esters and Acetic Acid Acetic Anhydride Monomer Other Derivatives Leading global position in each product ► GDP+ growth in each business ► Strong and growing position in Asia ► Continuous improvement on favorable raw material supply positions globally ► Significant advantages in technology, operating costs and capital costs ► 1Represents 2007 estimated third party net sales 93
  • 94. Differentiated intermediates with strong integration into Celanese specialties Differentiated Intermediates Specialty Products Building Block Acetate Consumer Specialties Anhydride (CS) and esters Nutrinova Acetic Acid Emulsions Industrial Raw VAM Specialties PVOH Materials (IS) AT Plastics Formaldehyde Ticona Advanced Engineering Acetyl Intermediates Engineered Polymers (AI) Materials (AEM) Affiliates 94
  • 95. Acetyl Intermediates business model: positioned to create sustainable value ► Attractive industry structure ► Leading technology with a steep cost curve ► Global footprint ► Significant capital efficiency ► Favorable supply/demand outlook ► Advantaged raw material supply ► Long-term growth opportunities 95
  • 96. Why we like acetyls: attractive industry structure Acetic Acid (2007E) VAM (2007E) VAM Celanese Others Other Celanese 27% 26% 27% 28% Eastman BP Celanese 3% 5% 1 Nanjing Wujing 3% 4% Cathay DuPont Dairen 3% 6% 11% BP Lyondell 22% Dow Lyondell Kyodo Sinopec Sopo 5% 8% 6% Sakusan 5% 7% 4% ► ► Global leader Global leader ► ► GDP plus 1-2% growth GDP+ growth ► ► Well-structured Industry Benefits from upstream integration Source: Tecnon 2007, Celanese estimates 96 1Schedule for startup in 2008
  • 97. Celanese technology drives leading operating costs 2010E Acetic Acid Cost Curve (kt) (based on nameplate capacity) High-cost technology ► ~2.0 to 2.5X higher Ethylene High Cost Supply production cost versus Ethanol leading technology Conventional methanol ► carbonylation technology Celanese Technology Conventional ~20-30% higher cost MeOH/CO AOPlus™/Leading Competition Celanese technology: By- prod a long-term competitive advantage 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 97 Source: Celanese estimates, available public data
  • 98. Continue to improve and aggressively protect advantaged technology AOPlus™ – Acetic Acid and Supporting Patents VAntage Plus™ - VAM 2006 2007 2006 2007 Intellectual Property 8701 8921 647 728 Effective Global Patents Additional Applications 2481 1701 530 616 AOPlusTM implemented at all VAntage PlusTM successful at Commercial Status core sites globally Cangrejera Aggressive Protection of Celanese Technology ► Positive outcome from all patent protection activities undertaken to date ► Multi-million dollar judgments in Celanese’s favor ► Actively track competitive activities and will continue to pursue instances of infringement 1Includes assumption of ~350 patents from a Celanese German subsidiary 98
  • 99. Nanjing advantages further improve Celanese cost structure Celanese Estimates of Acetic Acid Delivery Costs1 ► Advantaged coal-based carbon (CIF China-Nanjing) monoxide source 200 ► Lower fixed costs relative to other regions in the world 150 Percent (%) ► Proximity to China-based 100 customers Strong distribution network throughout 50 China and the rest of Asia Low freight costs 0 No import duties within China North Middle East CE Nanjing America 60% downstream integration with Indexed: China Average Costs = 100% Celanese derivatives startup Variable Costs Fixed Costs Freight/Duty/Distrubtion Source: External benchmarking, Celanese analysis 1Raw material pricing based on prevailing regional costs; Celanese 2007 estimates 99
  • 100. A global footprint positioned to capture emerging demand Celanese Global Manufacturing Locations Tarragona Frankfurt, Germany Pardies, France VAM = 200 VAM = 285 Acid = 440 Well positioned to ► Esters = 40 VAM = 150 Anhydride = 30 capture continued Pampa, TX Acid = 290 growth in Anhydride = 145 Esters = 60 Nanjing, China established, high- Acid = 600 VAM = 3001 Bay City, TX Anhydride = 1001 demand regions VAM = 300 (Americas, Europe) Cangrejera, Mexico Nanjing facility to ► VAM = 115 Anhydride = 90 capture strong Singapore Esters = 105 Clear Lake, TX Acid = 600 Acid = 1,200 growth in China VAM = 210 VAM = 310 Esters = 130 Singapore facility to ► New Location Scheduled for closure in 2009 support India and Americas Europe Asia other Southeast Acetic Acid 1,490 440 1,200 Asia demand VAM 725 635 510 Anhydride 235 30 100 Esters 165 40 130 All values shown in kt per year 00 1Startup schedule for 2008
  • 101. Significantly lower capital intensity versus other new acetyl complexes Capital Intensity ► Nanjing Phase 1: delivers capital advantage that is 350 between ~2 to 3 times greater (Relative $Capital/$Acetyl Sales) than all other acetyl projects 300 250 ► Nanjing Phase 2: a fraction of 200 Phase 1 capital for the same 150 production capabilities 100 50 Celanese capital efficiency: 0 a long-term competitive CE Nanjing CE Nanjing Local Sipchem advantage Phase 2 Phase 1 Chinese 01 Information from various press releases, 2007 China Acetic Acid Conference, and Celanese estimates
  • 102. Less efficient new capacity has been reducing effective utilization ► New entrants with less reliable Historical Industry Effective Capacity1 acetic acid technology 100% Significantly longer startup curves Higher number of outages Less reliable equipment 90% ► Natural gas restrictions in emerging regions Further restrictions on chemical applications announced in China 80% September 2007 ► Higher frequency of raw material (primarily CO) disruptions since 2003 70% 2002 2003 2004 2005 2006 2007E 2008E Previously assumed industry effective utilization Actual industry effective utilization 2008 to 2010 effective 2007 Clear Lake impact utilization assumed at 88% through at least 2010 1Source: Tecnon Orbichem 3rd party analysis, Celanese estimates 02
  • 103. Delays continue to be common for acetyl projects Company Capacity 2005 2006 2007 2008 2009 2010 BP/FPC 300kt SU A X BP / Yaraco 150kt A X SU Wujing 200kt A X X SU Sopo 150kt A X SU Fanavaran 150kt A X SU Lunan Cathay 200kt X SU A Cancelled Acetex (Tasnee) 500kt A Celanese Nanjing (Phase 1) 600kt X SU A X BP / Sinopec 550kt A X X X Sipchem 425kt A X X X Daqing 200kt A X SU Hualu Hensheng 200kt X A Lunan Cathay (expansion) 350kt A X Sopo (expansion) 600kt A X Tianjin Bohei 200kt A X Company announced startup CE 2005 update CE 2006 update CE 2007 update A X = Project delay SU = Actual plant startup 03
  • 104. Acetic acid high utilization rates continue into 2010 Acetic Acid Supply/Demand Balance 12,000 10,000 High Cost Low Cost 8,000 Demand kt 6,000 4,000 2,000 0 Utilization of 2004 2005 2006 2007E 2008E 2009E 2010E Effective Capacity1(Nov, 2007 ): 91% 93% 92% 94% 93% 91% 91% 12008E-2010E effective utilization based on external analysis assumptions Source: available public data 04
  • 105. Acetyls remains an advantaged industry Acetyls Ethylene Advantage ► ► ► Industry Attractive Fragmented Acetyls Structure Top 2 producers1: ~50% Top 2 producers1: ~ 15% ● of the global market of the total global market ► ► ► Cost Curve Steep cost curve Relatively flat within a Acetyls region ► ► ► Technology Leading technology not Readily available Acetyls widely licensed ► ► ► Asset Location Close to customer Feedstock dependent Acetyls ► ► ► Supply/demand Favorable supply/ Overcapacity by early Acetyls Outlook demand balance 20092 Acetyls: differentiated and less cyclical versus mainstream commodities 1Source: Tecnon 2007 05 2Source: CMAI
  • 106. Continued earnings stability from structural improvements and market conditions ► Southern Increasing Ethylene Costs ($US/ton)1 Chemical 1,500 contract Stable Acetyl Intermediates Operating 1,400 EBITDA Margin ► Advantaged 1,300 1,200 European 1,100 methanol Operating EBITDA as a % of Revenues 1,000 30% ► Producer-type 900 800 ethylene 700 economics 600 20% Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007 Q3 2007 Q4 2007E ► Significant captive Volatile Methanol Prices ($US/ton)1 product 10% consumption 800 700 ► Ibn Sina 600 dividends 0% 500 ► Select Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 400 05 05 05 05 06 06 06 06 07 07 07 07 formula-based 300 pricing Operating EBITDA as a % of Revenues 200 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007 Q3 2007 Q4 2007E Rolling Four-quarter Average ► Coal-based North America West Europe Asia Average CO in Nanjing 1Source: CMAI 06
  • 107. Committed to delivering value creation Primary Growth Focus Balance Operational EBITDA Group Asia Revitalization Innovation Organic Sheet Excellence Impact Consumer and EPS Operating EBITDA X X X X >$100MM Industrial Specialties Advanced X X X X >$100MM Engineered Materials Acetyl X X X >$100MM Intermediates Celanese Incremental X X EPS Corporate $350 – $400 million increased EBITDA profile plus EPS potential by 2010 07
  • 108. An important contributor to the Celanese growth strategy Operating EBITDA Growth Objectives Acetyl Intermediates is on track to ► (versus 2006 Baseline) deliver >$100 million in increased EBITDA profile by 2009 150 >$100 million Continued strong growth in global ► by 2009 from acetyl demand supported by new Nanjing Nanjing facility Phase 1 100 $ in millions Successful startup of Nanjing acetic acid plant in 2007; derivatives starting in 2008 50 Continuous improvement to the ► Celanese low-cost production advantage 0 ● Advantaged technology 2007 2008 2009 2010 ● Raw material sourcing 2010 and beyond: additional growth from China and other emerging economies 08
  • 109. Nanjing allows Celanese to capture significant growth in Asia Celanese Nanjing Integrated Complex Fully Integrated Complex ► Successful startup of acetic acid facility in June 2007 GUR® Celstran® Warehouse Flare ► Downstream acetyl products Unit Unit startup on schedule Acetic anhydride: 1H 2008 Acetic Anhydride Vinyl Acetate Vinyl acetate: mid-2008 Unit Monomer Unit ► Primary target is China and the rest of Asia ► ~$500 million of total additional Acetic Acid Utilities / revenues for Acetyl Unit Tank Farm Emulsions Intermediates from Nanjing Complex Phase 1 by 2009 Administration & Compounding Nanjing advantaged cost profile: Maintenance EBITDA margins greater than Acetyl Intermediates Nanjing Phase 1 segment average 09
  • 110. Case study: Celanese growth in China China Acetic Acid Volume Growth (Celanese 2000 volume = 100) Celanese growth supported by Nanjing Phase 1 1,000 4,500 Growth supported by Nanjing Singapore Facility Normalized Celanese China Growth derivative 900 4,000 start up 800 3,500 China Growth (kta) 700 3,000 600 2,500 500 2,000 400 1,500 300 1,000 200 500 100 0 2000 2001 2002 2003 2004 2005 2006 2007E 2008E 2009E 2010E Total China and Taiwan Growth Celanese Normalized Growth Successfully utilized Singapore plant to seed China growth 10 Source: Celanese estimates and actuals; Tecnon 3Q 2007 database
  • 111. Beyond Nanjing: Asia outside of China India Acetic Acid Estimated Volume Growth Celanese growth supported 800 ► Utilizing Singapore facility to become by Singapore Facility 700 leading importer to India 600 Favorable trade relationship between 500 kta Singapore and India 400 Low transportation costs to major coastal 300 demand 200 Strong relationships with key end users 100 0 Major volume positions under long-term 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 contracts ► Significant growth opportunities Rest of AOC Acetic Acid Estimated Volume Growth throughout rest of Asia to capture Celanese growth supported 2,500 by Singapore Facility additional acetyls growth 2,000 Favorable transportation costs to Southeast Asia 1,500 kta Strong growth in acetic acid demand in 1,000 several emerging economies: ● Vietnam: 10-12% CAGR 500 ● Thailand: 12-14% CAGR 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 11 Source: Celanese estimates and actuals
  • 112. Consumer trends support long-term growth 1-2% greater than GDP Acetyl Product Key Trends End Market Increased Demand Benefited Paints, coatings, inks and adhesives Emerging VAM, Esters used in residential and commercial Economies applications Acetic Acid, Acetic Demographics Pharmaceuticals Anhydride Increased demand for packaging films Affluence VAM (PVOH, EVOH) Convenience Films and polyester Acetic Acid, VAM Water Consumption of bottled water Acetic Acid Environmentally friendly paints and Environment VAM (for VAE) coatings 12
  • 113. Capitalize on growth in vinyl emulsions systems $8 Billion Global Emulsion Systems Global Emulsion Systems Expansion of Vinyl Solutions Customer-driven Product Innovation Vinyl Other Vinyl 40% Other 47% $3B $5B Vinyl Technology Extension $1B Target Space 2006 2010E ► Increasing vinyls’ share of emulsion systems ► Formulation work continues to improve performance of vinyl systems relative to competing systems Opportunities to capture needs created by market trends (environment, lifestyle, convenience) ► Results in 300 kta of additional VAM growth potential ► Acetyl intermediates ideally positioned to capture large share of total growth – both captive downstream and merchant demand 13
  • 114. Using downstream integration to drive continued earnings growth Celanese Acetic Acid Volume Growth Merchant versus Downstream Specialty Integration Celanese merchant ► acetic acid volume has 220% grown at 7% CAGR Celanese Growth (2000 = 100%) 12% CAGR 200% Forward integration into ► downstream specialty 180% 7% CAGR businesses has more 160% than doubled since 2000 140% Acetyl Intermediates 120% benefits from downstream 100% specialty growth 2000 2001 2002 2003 2004 2005 2006 2007E Merchant Capacity Downstream Specialty 14
  • 115. Acetyl Intermediates: advantages continue to support strong growth ► Attractive industry structure ► Leading technology with a steep cost curve ► Global footprint ► Significantcapital efficiency versus competing technologies ► Favorable supply/demand outlook through 2010 ► Advantaged raw material supply ► Long-term growth opportunities 15
  • 116. Global Operational Excellence Jim Alder Senior Vice President, Operations and Technical
  • 117. Global Operational Excellence ► Operational Excellence Culture Manufacturing and beyond Corporate sustainability ► Nanjing Competitive Advantages Demonstrated success Transferable platform for growth 17
  • 118. Operational Excellence engrained in Celanese culture Convergence Finance Redesign Safety and Environmental Purchasing & Pricing Manufacturing Shared Services Redesigns Beyond Mfg. Division SG&A Redesigns Mfg. Work Practices One SAP Energy Excellence Mfg. Digitization Maintenance Excellence Six Sigma Manufacturing Productivity Productivity Beyond Manufacturing Growth, Safety and Environmental 2001 2002 2003 2004 2005 2006 2007 2008 Pre-IPO Today 18
  • 119. Proven track record of productivity in all areas $1.0 billion/year overall productivity (2001 – 2007) Fixed Cost/ Reduction Above Inflation $1 Billion Year Overall Productivity Variable and Energy Cost Improvement 600 600 Cumulative inflation $ million per year $ million per year 0 0 2001 2002 2003 2004 2005 2006 2007E 2001 2002 2003 2004 2005 2006 2007E Fixed Cost Reduction Variable and Energy Cost Reduction 19
  • 120. Manufacturing productivity will continue in 2008 and beyond Energy Usage (MM BTU/lb) Accomplishments: 2001 – 2007 5.0 ► 28% reduction ► > $150 million per year sustainable productivity 4.5 4.0 What’s Next 3.5 > 40 % reduction ► Site specific projects vs. 2001 3.0 ► Nanjing startup ► Pampa sale/shutdown 2.5 ► Kelsterbach relocation (2011) 2004 2005 2006 2007E 2010E 20
  • 121. Productivity beyond manufacturing will also continue in 2008 and beyond Finance Cost Accomplishments: 2004 – 2007 ► Consolidation and optimization of U.S. finance operations 100 ► 5-day close Top quartile ► Systems consolidation ► Shared service center in Budapest $ in millions 75 > 30 % reduction vs. 2005 What’s Next ► Optimize Budapest shared service center 50 2005 2006 2007E 2008E 2009E ► Treasury function redesign Base* Productivity Projects ► Finance back office consolidation 21 *Excludes Investor Relations, Risk Management, and audit fees
  • 122. Proven track record in safety and environmental performance 2006 Safety Performance (OSHA) 1.6 1.2 One of the top performers 0.8 in the chemical industry CE 0.4 0.0 2006 Environmental Performance (vs. 2001) Reductions per unit of production: ► Air emissions 21% Step change reduction in ► Waste generation 48% environmental footprint ► Energy usage 25% ► Greenhouse gas emissions 32% 22
  • 123. Corporate sustainability targets drive further improvement 2010 Sustainability Goals What’s Next ► Employees Injury rate Safer workplace ● Greenhouse gases ► Communities Improved environment ● Air emissions 2007 progress ► Company Additional productivity ● Waste Energy 0 20 40 60 80 % Reduction versus 2005 23
  • 124. Emissions reductions continue to improve sustainability Emission Intensity Greenhouse Gas (T/T) Air (kg/T) 0.9 0.75 30% 30% reduction reduction 0.6 0.50 vs. 2005 vs. 2005 0.25 0.3 2004 2005 2006 2007E 2010E 2004 2005 2006 2007E 2010E Accomplishments: 2001 – 2007 Accomplishments: 2001 – 2007 ► 37% reduction ► 23% reduction ► > 3 million ton/year CO2 reduction ► > 1,000 ton/year reduction What’s Next What’s Next ► Further energy reduction ► Complete MON implementation (EPA-driven enhanced controls) ► Nanjing startup ► Pampa sale/shutdown ► Pampa sale/shutdown ► Site-specific projects ► Kelsterbach relocation (2011) 24
  • 125. Nanjing: from “green field” site to integrated complex Early 2003 – Plans Early 2004 – Site Entrance Flare Photo omitted Plant Acetic Acid Infrastructure Admin. & Maintenance Site Entrance and Administration Building Photo omitted 25
  • 126. Acetic acid and emulsions units operating; two acetyl units under construction Acetic Acid Emulsions Photo omitted Photo omitted VAM Acetic Anhydride Photo omitted Photo omitted 26
  • 127. Construction underway for two AEM units and one additional unit planned Celstran® GUR® Photo omitted Photo omitted Compounding 2009 - Plans GUR® Celstran® Warehouse Flare Photo omitted Acetic Anhydride Vinyl Acetate Monomer Plant Infrastructure Acetic Acid Emulsions Admin. & Compounding Complex Maintenance 27
  • 128. Nanjing: key decisions have positioned Celanese to generate significant value Alternative Celanese Decision 1. Ownership/Governance Joint Venture Go Alone Integrated 2. Level of Integration Acetic Acid Unit Complex Natural Gas- 3. Feedstocks Coal Based CO Coal-based based CO Basic Best-in-Class 4. Technologies Technologies Technologies 5. EHS Standards Local Global/Highest 6. Sourcing/Engineering Offshore Local/In-house 28
  • 129. 1. Ownership/Governance: joint venture or go alone ► Go Alone decision provided flexibility and control Integrate Celanese units in all divisions Establish Celanese culture (i.e., safety, preferred employer) Select suppliers and vendors Protect intellectual property Keep 100% of profits ► Several challenges overcome Develop baseline of trained employees Establish relationships with local officials Understand Chinese regulation details 29
  • 130. 2. Level of Integration: highly integrated complex Infrastructure Coal-based CO Acetic Acid ~40% 20% Acetic Anhydride Methanol ~40% M 100% e r Vinyl Acetate ~90% c h ~10% a n t Ethylene Emulsions 100% S a GUR® l 100% e s Celstran® Polypropylène 100% Polymer Resin Compounding 30
  • 131. Nanjing: facts and figures 2007 2009 2008 Acetic Acid ► Capacity – 600 kt (expandable to 1,200 kt) Acetic Anhydride ► AOPlus™ Technology ► Capacity – 100 kt Vinyl Acetate Monomer ► Capacity – 300 kt ► VAntage Plus™ Technology Nanjing Facts Emulsions Location – Nanjing City ► ► Capacity – 60 kt Industrial Park (NCIP) ● VAE – 48 kt Only one of two state- ● ● Conventional Emulsions – 12 kt approved industrial parks Celstran® Total area of NCIP ~45 ● ► Capacity – 4 kt kilometers (expandable to 8 kt) ~19 hectares of land use ► GUR® rights acquired ► Capacity – 16 kt Employees – 234 currently ► (expandable to 32 kt) and ~300+ expected by 2009 Compounding (including shared services) ► Capacity – 15 kt 31
  • 132. 3. Feedstocks: advantaged position with coal-based CO Coal Gasification in China: Proven, Reliable, Low Cost ► Proven Coal Gasification Process1 2004-2010 gasification ● Feeds Gasification Gas Refining End-products scorecard2 Oxygen China 29 • US 0 • ► Reliable CO supplier (Wison) ● Syngas performance first five months Coal - water CO SULFUR REMOVAL Methanol >97% CO availability3 • Syngas (H2 + CO) H2S ► Low cost Significant cost advantage ● SULFUR versus natural gas RECOVERY Co-products: Synergies from co-production ● Sulfur of methanol and CO Solids 1From William Preston presentation at Gasification Technologies Council in 2001 2Data from www.gasification.org 3Availability defined as percent of time supplying CO, excluding time when Oxygen feed not available 32
  • 133. Nanjing: advantaged feedstock position with coal-based CO Coal Gasification in China: Cost Advantage versus Natural Gas1 ► Coal has a 40% cost advantage vs. natural gas at current natural CO Cost ($ per ton) gas pricing ► Cost advantage likely to increase given relative coal versus natural gas reserves 0 Coal to CO NG to CO Variable and Fixed Cost Capital Return 1Proforma economics based on current Nanjing coal and natural gas prices ($8 per MM BTU) plus 15% return 33
  • 134. 4. Technologies: leading Celanese acetic acid technology (AOPlus™) protected with patents AOPlus™ Implementation in Clear Lake 1,300 Technology 2 Technologies ► 25 years of Celanese 2 Technologies technology development 2 Technologies integrated in Nanjing design Technology Unit Capacity, kta 2 Technologies Technology ► Celanese patents worldwide Technology More CO 531 total with 473 active 2 Technologies Technology 400 additional applications Technology Technology Technology ► Celanese patents in China More CO Technology 24 total with 22 active 2 Technologies 12 additional applications 2 Technologies 200 08 83 03 88 98 93 78 20 19 20 19 19 19 19 34
  • 135. Nanjing: leading Celanese VAM technology (VAntageTM) VAntage™ Implementation in Bay City 350 ► 35 years of Celanese Technology Debottlenecking and technology development Technology integrated in Nanjing design Technology Technology Technology Unit Capacity, kta ► Celanese patents worldwide Technology 902 total with 892 active 170 additional applications Debottlenecking and ► Celanese patents in China Technology 21 total with 21 active 12 additional applications 0 05 95 70 75 80 85 90 00 08 20 19 19 19 19 19 19 20 20 35
  • 136. 5. EHS Standards: committed to safety and environmental excellence Safety Environmental China standards higher U.S. or China standards, ► ► Integrating Celanese whichever greater standards and culture ► No significant environmental ► No lost time injuries in site incidents to date history (> 7 million man-hours) 36
  • 137. 6. Sourcing/Engineering: lowest capital acetyl complex in the world CE Nanjing vs. CE Nanjing vs. CE Nanjing vs. CE Nanjing Capital Intensity Local Chinese Sipchem vs. Sipchem Local Chinese + +++++ Geography 350 +++++ +++ Technology 300 Relative $Capital/$Acetyl Sales 250 +++++ ++ Scale 200 +++++ +++ Integration 150 Timing of + +++++ Investment 100 +++ ++++ Overall 50 0 CE Nanjing Local Chinese Sipchem Information obtained from various press releases, 2007 China Acetic Acid Conference, and Celanese estimates 37
  • 138. Operational Excellence: integral part of Celanese value proposition Sustained Productivity Nanjing: Demonstrated Success 1,000 GUR® Celstran® Warehouse Flare $ million per year Acetic Anhydride Vinyl Acetate Monomer Plant Infrastructure Acetic Acid Emulsions Admin. & Compounding Complex Maintenance 0 2001 2002 2003 2004 2005 2006 2007E Fixed Cost Reduction ► ► $1 billion/year in 2001 - 2007 $300–350 million total capital ► More in 2008 and beyond ► $600–800 million revenue by 2010 38
  • 139. Nanjing: platform for growth Celanese Alternative Decision Joint Venture 1. Ownership/Governance Go Alone Integrated ► Successful 2. Level of Integration Acetic Acid Unit Complex ► Execution Natural Gas- Natural Gas 3. Feedstocks Coal Based CO Coal-based Based CO based ► Expertise Basic Best-in-Class 4. Technologies Technologies Technologies ► Scalable 5. EHS Standards Local Global/ Highest Global/Highest ► Portable 6. Sourcing/Engineering Offshore Local/In House Local Pursue. Premier. 39
  • 140. Value Creation Steven M. Sterin Senior Vice President and CFO
  • 141. Building a case for value ► 2007 financial update ► 2008 financial outlook ► Cash flow and capital structure strategy ► Case for improved value creation 41
  • 142. Continued strength in 2007: increasing guidance FY 2007 Guidance 3rd Qtr 9 months ($ in millions) 2007 ended 9/30/07 Adjusted EPS guidance range ► Sales $1,573 $4,684 up 8% increased to $3.26 to $3.31 per Adjusted EPS $0.73 $2.49 up 23% share Current full-year 2007 guidance Operating EBITDA $302 $976 up 12% range above high end of original estimates Progression of Adjusted EPS Outlook Continued strong global demand for acetyl products $3.50 Ticona volume growth in Europe $3.30 Acetate Products revitalization $3.10 successfully completed $2.90 Discontinued Edmonton methanol ► $2.70 operations contributed $31 million $2.50 of Operating EBITDA in 2007 Dec-06 Feb-07 May-07 Jul-07 Oct-07 Dec-07 42
  • 143. Realizing progress in 2007 Operating EBITDA 2007 Performance 1,280 - 1,310 $ in millions ► Delivering on strategic growth objectives 1,285 - 1,295 56 - 61 1,244 85 - 90 Consumer Specialties on track with revitalization 1,144 (100) Nanjing acetic acid plant startup ahead of previous estimate ► Benefiting from strong market conditions Favorable acetyl conditions expected to more than offset volatile raw material costs and impact of Clear Lake outage 2006 Rptd Oxo Disc. 2006 Base Strategy Market 2007E Strong performance of Ops. affiliates, particularly Ibn Sina 43
  • 144. Building a case for value ► 2007 financial update ► 2008 financial outlook ► Cash flow and capital structure strategy ► Case for improved value creation 44
  • 145. 2008 business outlook ► Volume growth >2x GDP across both transportation and non-transportation applications Advanced ► Aggressive cost control offsets continued high Engineered energy and raw material costs 2008 Guidance: Materials 2008 Guidance: ► Significant progress expected in Nanjing production capabilities Adjusted EPS Adjusted EPS $3.35 to $3.65 ► Synergy capture from APL integration Consumer $3.35 to $3.65 Specialties ► Strong underlying business fundamentals Operating EBITDA Operating EBITDA ► High raw material costs continue $1,280 to $1,350 million Industrial $1,280 to $1,350 million ► Realize benefits from revitalization efforts Specialties ► Emulsions production in Nanjing Forecasted 2008 Forecasted 2008 adjusted tax rate of ► Continued strong global demand adjusted tax rate of 26% ► Incremental acetic acid volume 26% associated with China expansion Acetyl Intermediates ► VAM and acetic anhydride production scheduled to begin in Nanjing ► Prices expected to adjust in 2008 45
  • 146. Accelerating strategic growth objectives in 2008 from 2006 baseline Operating EBITDA 2008 Expectations $ in millions ► Continue to deliver on growth objectives – 1,280 - 1,350 expect to realize >50% ~1,315 120 - 130 of objectives by 2008 ► Operational Excellence 85 - 90 expected to more than 1,144 offset inflation ► Outlook range reflects (52) potential fluctuation in economic/market conditions 2006 Base 2006 2007 2008 2008E 2008E Methanol Strategy Strategy Outlook Range 46
  • 147. 2008 guidance Additional Items Income1 ► Affiliate ► Estimated Adjusted Tax Rate for Adjusted EPS $175 – $185 million 26% Interest2 ► Net ► Cash Taxes $200 – $210 million $100 – $120 million ► Depreciation and Amortization ► Capital Expenditure $300 – $310 million $280 – $300 million ► Share Count 169 million 1 Cost dividends and equity earnings 2 Net cash interest and interest expense 47
  • 148. Building a case for value ► 2007 financial update ► 2008 financial outlook ► Cash flow and capital structure strategy ► Case for improved value creation 48
  • 149. Strong cash flow generation continues Adjusted Free Cash Flow1 ► Strong operating 500 - 550 458 results ~400 ► Lower cash taxes $ in millions ► Working capital productivity ► 2008 estimate excludes Kelsterbach relocation 2006 2007E 2008E 1 Adjustedfree cash flow calculated as cash flow from operations less capital expenditures less other productive asset purchases less operating cash from discontinued operations plus certain other charges 49
  • 150. Bias for growth and high-return projects Significant Value Creation High ► Cost reduction & revitalization projects ~75% of Return on Capital Deployed/ ► Asset expansion – high Capital growth area ► Core/bolt-on acquisitions Deployed Value Creation Returning Cost of Capital Since 2005 ► Asset expansion – low growth area 14% ► Share repurchase Returning Cash to Shareholders ► Dividend ► Debt repayment ► Hold cash Low Difficulty of Realizing Value/ Low High Skills or Competencies Required 50
  • 151. Cash flow and capital structure strategy Cash Available for Strategic Use Execute Growth Strategy Optimize Capital Structure Cost Reduction Core/Bolt-on Share Debt & Revitalization Growth Projects Dividends Acquisitions Repurchase Repayment Projects Capital Structure Objectives Investment Criteria Cost ► Aligned with Strategic Pillars ► Stability ► 2 – 4 year simple payback period ► Flexibility ► > 20 – 50% ROIC ► Maximize shareholder value ► 51
  • 152. Effective use of cash to create shareholder value in 2007 Cash Available for Strategic Use ~$1,275 million Includes Oxo Divestiture Net Proceeds ~$580 million Execute Growth Strategy Optimize Capital Structure ~$400 million ~$875 million Cost Reduction Core/Bolt-on Share Debt & Revitalization Growth Projects Dividends Acquisitions Repurchase Repayment Projects ~$60 million ~$190 million ~$140 million ~$400 million ~$35 million ~$440 million ► Industrial ► Primarily Nanjing ► APL for ~$110 ► ~$70 million ► Common and ► ~$200 million Specialties million Dutch Auction debt reduction preferred ► High-return revitalization dividends ► ~$30 million ► ~$330 million ► $240 million high- projects ► SG&A additional spend open-market yield debt improvement for synergies repurchase refinancing costs ► Energy reduction programs 52
  • 153. Current credit structure near investment grade Result of Capital Structure Optimization ► LIBOR +175 bps (step-down to 150 bps) Cost ► Reduced annual interest cost by $50 - $60 million ► Term loan maturity not until 2014 Stability ► Annual term loan amortization 1% ($28 million) ► “Covenant-lite” structure supports growth strategy and flexibility to return Flexibility cash to shareholders 53
  • 154. Improved leverage profile reduces risk and increases earnings Operating EBITDA/Net Interest ► Decrease in overall borrowing costs 7x 8.0% Borrowing Rate since 2005 6.3x 6x ► Continued 5.9x improvement in 5x interest coverage 4.9x 4x ratio 4.3x ► Improved capital 3x flexibility 2x 6.9% ► Further debt reduction provides 1x minimal value at this 0x time 2005 2006 2007E 2008E 54
  • 155. Improved credit performance – primed for upgrade Adjusted FFO1/Adjusted Total Debt2 25% ► Improvement in 24% 23% 22% credit statistics BB ► Current performance 20% at or above BB credit rating 17% BB - ► Financial performance and 15% growth plans support current capital structure 10% 2005 2006 2007E 2008E 1Adjusted FFO (Funds from Operations) equals Net Income plus D&A, Deferred Taxes, Non-Cash Charges, Adjustment for Pension/OPEB and Operating Leases 2Adjusted Total Debt equals Reported Debt plus After-tax Unfunded Pension/OPEB Obligations and Operating Lease Adjustments 55
  • 156. Capital structure and cash flow summary Operating EBITDA Growth Operating EBITDA Margin Operating EBITDA/Net Interest Objectives 20% 400 19% 19% 20% 7x 20% 17% 16% 6.3x 6x 15% 15% 5.9x 19% 5x 15% 16% 17% $ in millions 4.9x 200 4x 4.3x 10% 3x 11% 11% 11% 10% 2x 5% 0 1x 2000 2001 2002 2003 2004 2005 2006 2007E 2007 2008 2009 2010 As Reported 0x AI CIS AEM Pro Form a for Current Portfolio 2005 2006 2007E 2008E Clear Growth Improved Portfolio Increased Financial Objectives Performance Flexibility Improved Shareholder Value 56
  • 157. Building a case for value ► 2007 financial update ► 2008 financial outlook ► Cash flow and capital structure strategy ► Case for improved value creation 57
  • 158. Additional value in affiliates 2007E 2007E Equity Affiliates 2007E Reported Unreported Proportional Equity Proportional Celanese Reporting EBITDA Earnings EBITDA Affiliate Ownership Segment Fortron Industries 50% AEM $20 $15 $5 Korea Engineered Plastics 50% AEM $25 $15 $10 AEM $80 $30 $50 Polyplastics 45% Infraservs <50% AI $40 $20 $20 $85 $80 Subtotal $165 Cost Affiliates 2007E Total Celanese Reporting Cash EBITDA Affiliate Ownership Segment Dividends from Ibn Sina 25% AI $74 Affiliates Acetate China Ventures 30-31% CIS $36 Subtotal $110 $275 $190 2007E Total Reported 58
  • 159. Case for improved valuation 3Yr Avg EBITDA/Sales2 3Yr Avg FCF Yield2 3Yr Avg EBITDA Growth2 20% 20% 18% 15% 7% 12% 14% 14% 10% 8% 5% 5% 4% 4% 3% 4% -4% DOW PPG EMN ROH FMC CE -6% DOW PPG EMN ROH FMC CE DOW PPG EMN ROH FMC CE NorthAvgEBITDAYield2 2 21 America Sales1 3Yr3YrForward % of Sales 3YrAvg % FCF Growth Asia EBITDA/Sales Avg of P/E2 66% 28% 12% 7% 20% 10% 20% 53% 52% 14.7 8% 18% 14.3 13.4 20% 45% 5% 45% 5% 12.4 12.1 15% 14% 14% 11.0 4% 4% 3% 15% 4% 14% 12% 28% 9% -4% -6% North America % of Sales1 Asia % of Sales1 DOW PPG EMN ROH FMC CE 66% 28% 53% 52% 20% 45% 45% 15% 14% 28% 12% 9% DOW PPG EMN ROH FMC CE DOW PPG EMN ROH FMC CE 1Banc of America Securities LLC estimates 2Thompson Financial as of December 7, 2007, Company reports, Celanese estimates 59
  • 160. Significant shareholder value upside continues to exist for Celanese Stock Price Based on Celanese 2008 P/E and EV/EBITDA Multiples Adjusted EPS $3.35 – $3.65 (based on 2008E)1 10 25 $58 8 20 EV/EBITDA 6 15 P/E $52 4 10 2 5 0 0 Current Share Price: $39.781 EV/EBITDA Premier P/E Premier Building a premier portfolio ► Pursuing aggressive and sustainable earnings growth ► Generating significant cash flow for reinvestment at very attractive returns ► 1Thompson Financial as of December 7, 2007, Company reports, Celanese estimates 60
  • 161. Key takeaways from today’s meeting Portfolio is stronger, more resilient ► It’s the model – not the molecule ► Ahead of expectations and growth objectives ► More earnings growth opportunities identified ► Celanese culture: enabler ► 61
  • 162. Appendix 162
  • 163. Reg G: Reconciliation of Diluted Adjusted EPS Adjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure Three Months Ended Nine Months Ended September 30, September 30, 2007 2006 2007 2006 (in $ millions, except per share data) Earnings (loss) from continuing operations before tax and minority interests 131 134 150 401 Non-GAAP Adjustments: 1 Other charges and other adjustments 40 206 16 77 - - 254 Refinancing costs Adjusted earnings from continuing operations before tax and minority interests 171 594 166 478 2 Income tax provision on adjusted earnings (48) (166) (42) (129) (2) - - Minority interests (3) Adjusted earnings from continuing operations 123 122 428 346 (2) (7) Preferred dividends (3) (8) Adjusted net earnings available to common shareholders 121 119 421 338 2 7 Add back: Preferred dividends 3 8 Adjusted net earnings for adjusted EPS 123 122 428 346 Diluted shares (millions) 150.2 155.4 Weighted average shares outstanding 158.6 158.6 12.0 12.0 12.0 Assumed conversion of Preferred Shares 12.0 - 0.3 0.4 Assumed conversion of Restricted Stock - 0.6 1.0 4.4 4.8 Assumed conversion of stock options 167.4 172.1 Total diluted shares 171.2 171.6 Adjusted EPS 0.73 0.71 2.49 2.02 1 See Reconciliation of Other Charges and Other Adjustments. 2 The adjusted tax rate for the three and nine months ended September 30, 2007 is 28% based on the original full year 2007 guidance. 63
  • 164. Reg G: Reconciliation of Net Debt Net Debt – Reconciliation of a Non-U.S. GAAP Measure September 30, December 31, 2007 2006 (in $ millions) Short-term borrowings and current 243 installments of long-term debt - third party and affiliates 309 3,252 Long-term debt 3,189 3,495 3,498 Total debt 531 Less: Cash and cash equivalents 791 Net Debt 2,964 2,707 64
  • 165. Reg G: Reconciliation of Other Charges and Other Adjustments Reconciliation of Other Charges and Other Adjustments Other Charges: Three Months Ended Nine Months Ended September 30, September 30, (in $ millions) 2007 2006 2007 2006 2 27 Employee termination benefits - 11 4 - 4 Plant/office closures - (2) (2) Insurance recoveries associated with plumbing cases - (3) - 74 Long-term compensation triggered by Exit Event - - 6 9 Asset impairments - - 1 4 Ticona Kelsterbach relocation - - - 1 2 Other 4 Total 12 - 118 12 Other Adjustments: 1 Three Months Ended Nine Months Ended September 30, September 30, (in $ millions) 2007 2006 2007 2006 Executive severance & other costs related (1) - to Squeeze-Out 5 28 - 10 Ethylene Pipeline Exit - 5 10 Business Optimization 4 4 13 22 Foreign exchange loss related to refinancing transaction - - 7 7 AT Plastics films sale - - 2 Discontinued Methanol production - 31 10 36 4 8 Other (3) (3) 28 16 88 65 Total 40 16 206 77 Total other charges and other adjustments 1 These items are included in net earnings but not included in other charges. 2 Adjusted earnings per share included earnings from its discontinued methanol production which was included in the company's 2007 guidance. 65
  • 166. 66 Equity Affiliate Preliminary Results - Total - Unaudited Three Months Ended Nine Months Ended September 30, September 30, (in $ millions) 2007 2006 2007 2006 Net Sales Ticona Affiliates1 315 934 291 862 Infraserv2 422 1,175 346 1,010 737 637 2,109 1,872 Total Operating Profit 55 148 Ticona Affiliates 42 130 19 61 Infraserv 16 47 74 58 209 177 Total Depreciation and Amortization 12 39 Ticona Affiliates 13 35 21 61 Infraserv 20 59 33 33 100 94 Total 3 Affiliate EBITDA 67 187 Ticona Affiliates 55 165 40 122 Infraserv 36 106 107 91 309 271 Total Net Income 38 98 Ticona Affiliates 29 85 19 59 Infraserv 10 38 57 39 157 123 Total Net Debt 142 142 Ticona Affiliates (25) (25) 5 5 Infraserv 35 35 147 10 147 10 Total 4 Equity Affiliate Preliminary Results - Celanese Proportional Share - Unaudited Three Months Ended Nine Months Ended September 30, September 30, (in $ millions) 2007 2006 2007 2006 Net Sales 145 432 Ticona Affiliates 134 399 135 388 Infraserv 78 394 280 212 820 793 Total Reg G: Equity Affiliate Data Operating Profit 25 70 Ticona Affiliates 20 62 6 20 Infraserv 5 16 31 25 90 78 Total Depreciation and Amortization 6 18 Ticona Affiliates 6 17 6 20 Infraserv 6 19 12 12 38 36 Total Affiliate EBITDA3 31 88 Ticona Affiliates 26 78 12 39 Infraserv 11 34 43 37 127 112 Total Equity in net earnings of affiliates (as reported on the Income Statement) 18 47 Ticona Affiliates 13 39 6 18 Infraserv 4 14 24 17 65 53 Total Affiliate EBITDA in excess of Equity in net earnings of affiliates5 13 41 Ticona Affiliates 13 39 6 21 Infraserv 7 20 19 20 62 59 Total Net Debt 62 62 Ticona Affiliates (13) (13) 3 3 Infraserv 13 13 65 - 65 - Total 1 Ticona Affiliates includes PolyPlastics (45% ownership), Korean Engineering Plastics(50%) and Fortron Industries(50%) 2 Infraserv includes Infraserv Entities valued as equity investments (Infraserv Höchst Group - 31% ownership, Infraserv Gendorf - 39% and Infraserv Knapsack 27%) 3 Affiliate EBITDA is the sum of Operating Profit and Depreciation and Amortization, a non-U.S. GAAP measures 4 Calculated as the product of figures from the above table times Celanese ownership percentage 5 Product of Celanese proportion of Affiliate EBITDA less Equity in net earnings of affiliates; not included in Celanese operating EBITDA
  • 167. 67 Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA - a Non-U.S. GAAP Measure. Three Months Ended Nine Months Ended September 30, September 30, (in $ millions) 2007 2006 2007 2006 Net Sales 258 777 Advanced Engineered Materials 230 691 282 832 Consumer Specialties 213 652 314 1,015 Industrial Specialties 335 972 EBITDA 859 2,532 Acetyl Intermediates 872 2,520 1 Other Activities 6 2 5 16 (146) (474) Intersegment eliminations (184) (503) Total 1,573 1,471 4,684 4,348 Operating Profit (Loss) 35 103 Advanced Engineered Materials 37 116 34 130 Consumer Specialties 35 124 (9) 2 Industrial Specialties 17 35 117 340 Acetyl Intermediates 126 349 1 Other Activities (30) (151) (43) (144) Total 147 172 424 480 Equity Earnings and Other Income/(Expense) 2 18 48 Advanced Engineered Materials 14 42 2 37 Consumer Specialties - 22 - - Industrial Specialties - (1) 28 51 Acetyl Intermediates 18 40 1 Other Activities (10) (8) 10 10 Total 38 42 128 113 Other Charges and Other Adjustments 3 - 5 Advanced Engineered Materials - (4) 2 11 Consumer Specialties - - 14 33 Industrial Specialties 3 14 2 59 Acetyl Intermediates 10 36 1 Other Activities 22 98 3 31 Total 40 16 206 77 Depreciation and Amortization Expense 17 51 Advanced Engineered Materials 16 48 Reg G: Reconciliation of Operating 15 39 Consumer Specialties 9 29 13 43 Industrial Specialties 16 45 31 81 Acetyl Intermediates 23 78 1 4 Other Activities 2 5 1 Total 77 66 218 205 Operating EBITDA 70 207 Advanced Engineered Materials 67 202 53 217 Consumer Specialties 44 175 18 78 Industrial Specialties 36 93 178 531 Acetyl Intermediates 177 503 1 Other Activities (17) (57) (28) (98) Total 302 296 976 875 1 Other Activities primarily includes corporate selling, general and administrative expenses and the results from captive insurance companies. 2 Includes equity earnings from affiliates, dividends from cost investments and other income/(expense) 3 Excludes adjustments to minority interest, net interest, taxes, depreciation, amortization and discontinued operations.
  • 168. 68 Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA - a Non-U.S. GAAP Measure - Unaudited Three Months Ended Twelve Months Ended March 31, June 30, September 30, December 31, December 31, (in $ millions) 2005 2005 2005 2005 2005 Net Sales 239 223 212 213 887 Advanced Engineered Materials 212 219 208 200 839 Consumer Specialties 206 263 305 286 1,060 Industrial Specialties EBITDA 690 707 731 783 2,911 Acetyl Intermediates 1 Other Activities 12 8 6 6 32 (95) (99) (113) (153) (460) Intersegment eliminations Total 1,264 1,321 1,349 1,335 5,269 Operating Profit (Loss) 39 5 18 (2) 60 Advanced Engineered Materials 24 27 21 56 128 Consumer Specialties - 5 5 (14) (4) Industrial Specialties 143 121 76 146 486 Acetyl Intermediates 1 Other Activities (83) (33) (38) (30) (184) Total 123 125 82 156 486 Equity Earnings and Other Income/(Expense) 2 12 16 15 11 54 Advanced Engineered Materials - 2 (2) 3 3 Consumer Specialties - - - - - Industrial Specialties 12 (10) 32 35 69 Acetyl Intermediates 1 Other Activities (8) 18 (2) 5 13 Total 16 26 43 54 139 Other Charges and Other Adjustments 3 1 20 4 6 31 Advanced Engineered Materials 1 - 10 (24) (13) Consumer Specialties - 2 8 1 11 Industrial Specialties 19 11 15 (30) 15 Acetyl Intermediates 1 Other Activities 45 (10) 2 3 40 Total 66 23 39 (44) 84 Depreciation and Amortization Expense 15 14 13 18 60 Advanced Engineered Materials 12 12 7 11 42 Consumer Specialties 12 11 7 17 47 Industrial Specialties 17 24 35 34 110 Acetyl Intermediates 1 Other Activities 2 2 4 1 9 Reg G: Reconciliation of Operating Total 58 63 66 81 268 Operating EBITDA* 67 55 50 33 205 Advanced Engineered Materials 37 41 36 46 160 Consumer Specialties 12 18 20 4 54 Industrial Specialties 191 146 158 185 680 Acetyl Intermediates 1 Other Activities (44) (23) (34) (21) (122) Total 263 237 230 247 977 18 10 4 3 35 *Quarterly earnings for the discontinued Edmonton Methanol operations have been included in Other Charges and Other Adjustments. Oxo Alcohol Divestiture 22 28 22 9 81 Total Operating EBITDA - as reported 285 265 252 256 1,058 1 Other Activities primarily includes corporate selling, general and administrative expenses and the results from captive insurance companies. 2 Includes equity earnings from affiliates, dividends from cost investments and other income/(expense). 3 Excludes adjustments to minority interest, net interest, taxes, depreciation, amortization and discontinued operations.
  • 169. 69 Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA - a Non-U.S. GAAP Measure - Unaudited Three Months Ended Twelve Months Ended March 31, June 30, September 30, December 31, December 31, (in $ millions) 2006 2006 2006 2006 2006 Net Sales 231 230 230 224 915 Advanced Engineered Materials 216 223 213 224 876 Consumer Specialties EBITDA 311 326 335 309 1,281 Industrial Specialties 809 839 872 831 3,351 Acetyl Intermediates 1 Other Activities 5 6 5 6 22 (152) (167) (184) (164) (667) Intersegment eliminations Total 1,420 1,457 1,471 1,430 5,778 Operating Profit (Loss) 41 38 37 29 145 Advanced Engineered Materials 42 47 35 41 165 Consumer Specialties 15 3 17 9 44 Industrial Specialties 103 120 126 107 456 Acetyl Intermediates 1 Other Activities (45) (56) (43) (46) (190) Total 156 152 172 140 620 Equity Earnings and Other Income/(Expense) 2 14 14 14 13 55 Advanced Engineered Materials - 22 - 2 24 Consumer Specialties - (1) - - (1) Industrial Specialties 7 15 18 23 63 Acetyl Intermediates 1 Other Activities 3 (3) 10 12 22 Total 24 47 42 50 163 Other Charges and Other Adjustments 3 (2) (2) - (1) (5) Advanced Engineered Materials - - - - - Consumer Specialties 1 10 3 2 16 Industrial Specialties 12 14 10 16 52 Acetyl Intermediates 1 Other Activities 13 15 3 (2) 29 Total 24 37 16 15 92 Depreciation and Amortization Expense 16 16 16 17 65 Advanced Engineered Materials 11 9 9 10 39 Consumer Specialties 14 15 16 14 59 Industrial Specialties 23 32 23 23 101 Acetyl Intermediates 1 Other Activities 1 2 2 - 5 Reg G: Reconciliation of Operating Total 65 74 66 64 269 Operating EBITDA* 69 66 67 58 260 Advanced Engineered Materials 53 78 44 53 228 Consumer Specialties 30 27 36 25 118 Industrial Specialties 145 181 177 169 672 Acetyl Intermediates 1 Other Activities (28) (42) (28) (36) (134) Total 269 310 296 269 1,144 14 12 10 16 52 *Quarterly earnings for the discontinued Edmonton Methanol operations have been included in Other Charges and Other Adjustments. Oxo Alcohol Divestiture** - - 26 39 65 Total Operating EBITDA - as reported 269 310 322 308 1,209 **For comparative purposes. The Oxo Alcohol Divestiture was reflected as a discontinued operation for the three months ended March 31, 2006 and June 30, 2006 in conjunction with reporting the results for the first and second quarter of 2007. 1 Other Activities primarily includes corporate selling, general and administrative expenses and the results from captive insurance companies. 2 Includes equity earnings from affiliates, dividends from cost investments and other income/(expense). 3 Excludes adjustments to minority interest, net interest, taxes, depreciation, amortization and discontinued operations.
  • 170. 70 Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA - a Non-U.S. GAAP Measure - Unaudited Three Months Ended Six Months Ended March 31, June 30, June 30, (in $ millions) 2007 2007 2007 Net Sales 262 257 519 Advanced Engineered Materials 269 281 550 Consumer Specialties EBITDA 346 355 701 Industrial Specialties 839 834 1,673 Acetyl Intermediates 1 Other Activities 1 (5) (4) (162) (166) (328) Intersegment eliminations Total 1,555 1,556 3,111 Operating Profit (Loss) 36 32 68 Advanced Engineered Materials 48 48 96 Consumer Specialties 12 (1) 11 Industrial Specialties 132 91 223 Acetyl Intermediates 1 Other Activities (22) (99) (121) Total 206 71 277 Equity Earnings and Other Income/(Expense) 2 14 16 30 Advanced Engineered Materials - 35 35 Consumer Specialties - - - Industrial Specialties 5 18 23 Acetyl Intermediates 1 Other Activities 4 (2) 2 Total 23 67 90 Other Charges and Other Adjustments 3 - 5 5 Advanced Engineered Materials 1 8 9 Consumer Specialties - 19 19 Industrial Specialties 46 11 57 Acetyl Intermediates 1 Other Activities 4 72 76 Total 51 115 166 Depreciation and Amortization Expense 17 17 34 Advanced Engineered Materials 11 13 24 Consumer Specialties Reg G: Reconciliation of Operating 14 16 30 Industrial Specialties 24 26 50 Acetyl Intermediates 1 Other Activities 2 1 3 Total 68 73 141 Operating EBITDA* 67 70 137 Advanced Engineered Materials 60 104 164 Consumer Specialties 26 34 60 Industrial Specialties 207 146 353 Acetyl Intermediates 1 Other Activities (12) (28) (40) Total 348 326 674 33 (2) 31 *Quarterly earnings for the discontinued Edmonton Methanol operations have been included in Other Charges and Other Adjustments. 1 Other Activities primarily includes corporate selling, general and administrative expenses and the results from captive insurance companies. 2 Includes equity earnings from affiliates, dividends from cost investments and other income/(expense). 3 Excludes adjustments to minority interest, net interest, taxes, depreciation, amortization and discontinued operations.
  • 171. Reg G: Reconciliation of 2000 – 2006 Operating EBITDA 1 1 2005 2006 Total Celanese 2000 2001 2002 2003 2004 GAAP Operating Profit 78 (470) 162 133 130 573 747 Depreciation & Amortization 364 372 300 328 256 285 283 Other Charges & Other Adjustments 27 472 (1) 6 340 50 40 Equity Earnings and Other Income/(Expense) 58 58 58 92 75 150 174 Operating EBITDA 528 432 519 559 801 1,058 1,244 Net Sales 4,888 4,537 4,535 5,133 5,069 6,070 6,656 Operating EBITDA Margin 11% 10% 11% 11% 16% 17% 19% Portfolio Adjustment 5% 5% 4% 6% 3% 3% 0% Pro Forma EBITDA Margin for Current Portfolio 16% 15% 15% 17% 19% 20% 19% 1 Amounts as reported in the 4Q 2006 earnings release Advanced Engineered Materials 2000 2001 2002 2003 2004 2005 2006 GAAP Operating Profit 90 (13) 23 136 19 60 145 Depreciation & Amortization 69 68 60 63 64 60 65 Other Charges & Other Adjustments (27) (8) 8 (97) 67 31 (5) Equity Earnings and Other Income/(Expense) 15 5 17 32 26 54 55 Operating EBITDA 147 52 108 134 176 205 260 71
  • 172. Reg G: Other Items Adjusted Total Debt Adjusted Funds from Operations 2005 2006 2005 2006 Net Income 277 406 Total Debt 3,437 3,498 Depreciation & Amortization 285 283 Unfunded PBO 804 541 Deferred Income Taxes (85) 125 Unfunded PBO at 65% 523 352 Other Non-Cash Adjustments 204 96 Unfunded OPEB Obligation 377 343 Unfunded OPEB at 65% 245 223 Operating Lease Expenses 93 109 Lease Adjustments 558 654 Periodic Benefit Costs 43 42 Adjusted Funds From Operations 817 1,061 Adjusted Total Debt 4,763 4,727 2000 – 2006 Adjusted Free Cash Flow 2000 2001 2002 2003 2004 2005 2006 Net cash provided by/(used in) operating activities 55 462 363 401 (164) 701 751 Capital expenditures (221) (191) (203) (211) (204) (212) (244) Other productive asset purchases - - - - - - (41) Other charges and other adjustments 322 - (16) 5 552 56 (8) Adjusted Free Cash Flow 156 271 144 195 184 545 458 72