1. VFT Canada Inc. Coal Tar Pitch Markets in Europe & North America Michael Sutton VFT Canada Inc. Presented at 12 th Annual Met Coke World Summit Chicago, Illinois October 22-24, 2008

2. VFT Canada Inc. 2 Agenda ●North American Coal/Coke/Tar/Pitch Process ●North American Coke & Coal Tar Production  Coke Plant Locations  Tar Distilled  Distillation Plant Locations ●North American Coal Tar Pitch Markets  Aluminum Industry  Graphite Electrode Industry  Pavement Coatings ●Coal Tar Pitch Balance – North America & Europe ●Creosote/Naphthalene ●Development of New Products ●Participation in Growing Markets – Aluminum Industry

3. VFT Canada Inc. 3 The Coal/Coke/Tar/Pitch Process DISTILLATIONDISTILLATION Coal Tar Oils Pitch Naphthalene Creosote Carbon Black Feedstock Aluminum Smelters Specialty Carbon Products Coking Coal Coke Ovens Steel Productio n Pavement Coatings Coke Refractories Graphite Electrodes

4. VFT Canada Inc. 4 North American Coke Production Capacity & Coal Tar Production – 2007

5. VFT Canada Inc. 5 North American Coke Plants

6. VFT Canada Inc. 6 North American Tar Distilled Data Source: ACCCI

7. VFT Canada Inc. 7 North American Tar Distillers VFT CANADA COOPERS CREEK TANGENT RAIL (2) LONE STAR SPECIALTY KOPPERS (3)

8. VFT Canada Inc. 8 North American Coal Tar Distillation (2007)

9. VFT Canada Inc. 9 North American Coal Tar Pitch Markets

10. VFT Canada Inc. 10 North American Coal Tar Pitch Markets

11. VFT Canada Inc. 11 North American Coal Tar-Based Refined Tar Demand Data Source: ACCCI

12. VFT Canada Inc. 12 North American Pitch Balance 2007

13. VFT Canada Inc. 13 European Pitch Balance 2007 Note: Ukraine & Russia excluded

14. VFT Canada Inc. 14 Canada & U.S. Creosote Consumption

15. VFT Canada Inc. 15 North American Naphthalene Consumption Major Markets% Phthalic Anhydride49 Naphthalene Sulphonates33 Pesticides8 Other10 Data Source: ACCCI

16. VFT Canada Inc. 16 European Naphthalene Consumption Major Markets% Phthalic Anhydride40 Naphthalene Sulphonates47 Pesticides6 Other7

17. VFT Canada Inc. 17 Development of New Products  Low PAH Pitch –Soderberg Aluminum Smelters  Carbores –Specialty Graphite and Refractories More environmentally-friendly pitch containing lower PAH’s (BaP)

18. VFT Canada Inc. 18 Participation in Growing Markets % Aluminum85 Graphite10 Others 5 100 - China (increased domestic demand) - Middle East - Iceland - Canada Low energy costs Aluminum– Main driver for world-wide pitch demand Growth Areas

19. VFT Canada Inc. 19 Primary Aluminium Production (Tmt)

20. VFT Canada Inc. 20 Primary Aluminium Capacity (Tmt)

21. VFT Canada Inc. 21 New Tar Production  China  Russia  Brazil North American and European tar distillers are involved/pursuing options in these markets.

22. VFT Canada Inc. 22 The Future For North American Tar Distillers ? COAL COKE BY-PRODUCTS RECOVERED TAR GASES NON-RECOVERY OF BY-PRODUCT STEEL OILS PITCH CO-GENERATION