1Q19 results Opportunity Day 23 rd May 2019 DISCLAIMER The - PowerPoint PPT Presentation

1Q19 results Opportunity Day 23 rd May 2019

DISCLAIMER The information contained in this presentation is intended solely for your reference. This presentation contains “forward - looking” statements that relate to future events, which are, by their nature, subject to sig nificant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regardi ng Banpu Power’s future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where Banpu Power participates or is seeking to participate and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “will”, “may”, “p roj ect”, “estimate”, “anticipate”, “predict”, “seek”, “should” or similar words or expressions, are forward -looking statements. The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which Banpu Power will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. Banpu Power does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. Banpu Power makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward- looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not indications of future performance. In no event shall Banpu Power be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. Banpu Power makes no representation whatsoever about the opinion or statements of any analyst or other third party. Banpu Power does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement. Banpu Power’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the s ecurities laws of any state of the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of such act or such laws. This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell Banpu Power’s securities in any jurisdiction. 2

1 Project progress update 2 Review of 1Q19 3 Operational performance 1.1 BLCP 1.2 Hongsa 1.3 China CHP 1.4 Renewables 4 Financial performance 1.1 BLCP 1.2 Hongsa 1.3 China CHP 1.4 Renewables 1.5 BPP consolidated 5 Key Takeaways Appendix 3

Project Soc Trang Wind 80 MW: completed feasibility study DEVELOPMENT MILESTONE PROJECT INFORMATION Phase 1  Project area: 1,600 ha 2016 HANOI MOU 200 MW  Estimated investment cost: US$160 M  Offtaker: Electricity of Vietnam (EVN) 2018 INVESTMENT REGISTRATION  Average wind speed: 6.5-7 m/s* VIETNAM CERTIFICATE “IRC”  Ownership: 100% 1Q19 PHASE 1 (30MW) COMPLETED FEASIBILITY SOC TRANG STUDY AND EIA Phase 2 Average wind speed BAC LIU at 100 m height (m/s) 2019-2020 4-5 PHASE 1 CONSTRUCTION Phase 3 5-6 BPP’S WIND 4Q20 >6 PROJECT PHASE 1 (30 MW) COD HO CHI MINH CITY 2Q21 PHASE 2 (30 MW) COD Soc Trang 4Q21 80 MW PHASE 3 (20 MW) COD OUR WAY IN ENERGY 4 Source: *GIZ

Project Soc Trang Wind 80 MW: site photos OVERALL PROJECT LAYOUT Turbine Micrositting for Phase 1 110 KV T/L SOC TRANG (6km) BAC LIU Met Mast Hub Height 100 meter Sub-station Northern Side of Sub-station Area proposed for Sub-station OUR WAY IN ENERGY 5

Project Soc Trang Wind 80 MW: public hearing PUBLIC HEARING AT VINH PHOUC WARD PUBLIC HEARING AT VINH CHAU WARD OUR WAY IN ENERGY 6

Project Kurokawa Solar 18.9 MW: system installation Start construction COD 4Q19 54% 3Q18 1Q19 Solar panel installation Panel foundation Next step:  Continue to complete drainage system and pond  Installation of piling an racking system  Installation of PV panel electrical work  Grid Connection and system Pond work Electrical work  COD is expected by December 2019 OUR WAY IN ENERGY 7

Project Yamagata Solar 20 MW: achieved 75 % completion COD 3 Q 20 Start construction 75% 3Q18 1Q19 Mockup for (snow) load test Completion of racking installation Next step:  Construction progress at slower pace to be in line with Grid construction completion  Resume construction racking system in 2H19  To install PV panel 1H2020 PV panel installation PV panel installation  Grid connection date and substantial completion within 2H2020 OUR WAY IN ENERGY 8

Project Yabuki Solar 7 MW: progress on site preparation Start construction COD 3Q20 10% 3Q18 1Q19 Project layout Land deforestation work Next step:  To complete site preparation within 3Q19  Continue with drainage system and pond  Installation of piling an racking system and Installation of PV panel Underground drainage* Soil erosion protection within 1H20  Grid connection date and substantial completion within 2H20 OUR WAY IN ENERGY 9 Note: *Pipe Installation

Project SLG 1,320 MW*: achieved 51% completion Start construction COD under review 51% 2016 1Q19 OVERALL PROJECT LAYOUT Unit 1 Unit 2 Boilers:  Unit 1: Working on constructing of turbine platform  Unit 2: Turbine unit and various pipelines are under Indirect cooling tower: installation; induced fan installation 80% completed concrete structure completed; Internal circulating pipeline under installation OUR WAY IN ENERGY 10 Note: *Based on 100% basis

Project SLG 1,320 MW*: achieved 51% completion Unit 2 generator stator completed Chemical building Boiler 1 water wall progress Boiler 2 unit primary fan, induced fan installation OUR WAY IN ENERGY 11

Project Luannan phase III 52 MWe: progress on track 76 % Start construction COD 2019 2Q18 April 2019 Completed installation of turbine body, Environmental protection facilities  generator and excitation transformer Boiler and turbine body insulation are under  installation. Boiler auxiliaries are under commissioning Completed commissioning of separate  equipment of flue gas emission deep cut system Boiler Turbine and generators OUR WAY IN ENERGY 12

1 Project progress update Review of 1Q19 2 3 Operational performance 1.1 BLCP 1.2 Hongsa 1.3 China CHP 1.4 Renewables 4 Financial performance 1.1 BLCP 1.2 Hongsa 1.3 China CHP 1.4 Renewables 1.5 BPP consolidated 5 Key Takeaways Appendix 13

Banpu Power 1Q19: conventional power THAILAND LAOS CHINA BLCP Hongsa China CHP Resume normal operation with strong and Completed its yearly maintenance of unit 1 for 18 Continue high demand during winter resulted in consistent reliability days while excellent operation of unit 2 helps better performance QoQ, mainly driven by strong sustain the overall performance residential demand  Resume normal operation with strong  EAF reported at 81%  Revenue of THB 1.8 Bn, slightly increase by 3% reliability reflected in EAF**of 1Q19 at 100% QoQ from strong demand  EBITDA of THB 3.1 Bn, improve by 5%, mainly  EBITDA of THB 1.3 Bn, +129% QoQ and from saving on overhead cost SLG -32% YoY  Profit contribution of THB 0.7 Bn  Construction progress continued, reaching at  Profit contribution of THB 0.4 Bn 51%  Expected COD adjustment to match with transmission line construction completion OUR WAY IN ENERGY 14 Note: *EMJ = Extended Major Overhual, ** Equivalent Availability Factor (EAF) is a percentage and measures of the potential amount of energy that could be produced by the unit after all planned and unplanned losses are removed