2Q19 results Opportunity Day 26 th August 2019 2 DISCLAIMER The - PowerPoint PPT Presentation

2Q19 results Opportunity Day 26 th August 2019

2

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 limita tion, those regarding Banpu’s future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where Banpu participates or is seeking to participate and any statements preceded by, followed by or that include the words “believe”, “e xpe ct”, “aim”, “intend”, “will”, “may”, “project”, “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 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 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 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 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 makes no representation whatsoever about the opinion or statements of any analyst or other third party. Banpu 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’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securit ies 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’s securities in any jurisdiction. 3

Focus: Energy Generation 1 2 Financial Summary 3 Energy Resources  Coal  Gas 4 Energy Generation 5 Energy Technology 6 Key Takeaways 4

Banpu Energy Generation: unique pan-Asian portfolio Banpu’s portfolio of energy generation excluding solar rooftop Total of Banpu Power’s equity capacity and Banpu’s equity in Sunseap shown in bold Gross capacity shown in small font >30 plants committed across Asia CHINA 539 MWe*** CHP 396 MW IPP 6.1 GW 177 MW solar JAPAN (2,107 MW gross) 236 MW solar Total gross (366 MW gross) committed capacity TAIWAN 4 MW solar LAOS (22 MW gross) 751 MW IPP 3.0 GW (1,878 MW gross) THAILAND Total equity VIETNAM 717 MW IPP 65 MW solar (1,434 MW gross) committed capacity* 80 MW wind (248 MW gross) 562 MW Banpu Power’s portfolio Renewables committed capacity** Sunseap’s solar farm portfolio Note: Based on 38.5% Banpu’s ownership in Sunseap * Based on Banpu Power’s equity capacity (2,893 MW) and Banpu’s equity in Sunseap (72 MW) , **Based on Banpu Power’s equity capacity (490 MW) and 5 Banpu’s equity in Sunseap (72 MW) , *** MW equivalent

Banpu – Energy Generation ENERGY ENERGY ENERGY RESOURCES GENERATION TECHNOLOGY THERMAL Solar RENEWABLES rooftop: 185 MW SE Asia Potential Potential Coal-fired Gas-fired Solar Wind Other power – IPPs power – IPPs COAL SMART ENERGY • BLCP, Thailand: • Ninh Thuan, • Soc Trang, Synergies: 1,434 MW Vietnam:168 MW Vietnam: 80 MW Synergies: • Hongsa, Laos: • New projects • New projects supply sourcing, technology, 1,878 MW (Vietnam?) (Vietnam?) market insights knowledge sharing • New projects (Vietnam?) North Potential Asia Potential Potential Coal-fired Combined Gas-fired Solar Wind Other power – IPPs power – IPPs Heat & Power GAS PROPRIETARY • SLG, China: • 3 CHP plants, • China: 177 MW TECHNOLOGY China: 610 MWe * • Japan: 366 MW 1,320 MW (2020) • Taiwan:22 MW DEVELOPMENT • New projects (Japan?) Note: Based on gross capacity, * MW equivalent 6

Case study: value creation track-record (CHP, China) CHINA CHP’S UTILIZATION VS INDUSTRY Unit: Hours GOOD OPERATIONAL 9,000 PERFORMANCE Zhengding 7,000 Luannan Better utilization than 5,000 Zouping industry average driven by China’s average 3,000 utilization hour heat load 2013 2014 2015 2016 2017 2018 Source: China Electricity Council CHINA CHP’S PROFIT CONTRIBUTION TO BPP VS COAL PRICE CONTRIBUTING CHP’s 630 600 566 CONSISTENT CASH FLOW 471 average 408 403 coal price Maintaining profitability (RMB/t) during high coal prices 263 251 driven by good operational 186 Profit 162 157 116 contribution performance to BPP (RMB M) 2013 2014 2015 2016 2017 2018 +52 MWe CONTINUOUS GROWTH +52 MWe LN ph 3 +47 MWe LN ph 2 +56 MWe Over 200 MWe expansion, 539 ZP ph 4 487 ZD ph 3 435 >60% increase from 2013, 388 388 332 332 Installed with 52 MWe expansion to capacity COD by 2019 (MWe) 2013 2014 2015 2016 2017 2018 2019 7

Energy Generation – Thermal Banpu Power’s equity capacity shown in bold Gross capacity shown in small font SE Asia • BLCP : platform model for JAPAN project development; EAF 100% 539 MWe* CHP nearly all time 610 MWe gross (LN phase 3 under • Hongsa : significant development) CHINA improvement in plant stability and reliability 3 96 MW SLG IPP 1,320 MW gross • Potential : evaluating thermal (under development) power opportunity in Vietnam and Indonesia LAOS 751 MW HONGSA IPP – Vietnam : +40 GW CFP by 1,878 MW gross VIETNAM 2030; potential synergies with coal trading business THAILAND – Indonesia : +27 GW CFP by 717 MW BLCP IPP 1,434 MW gross 2028; coal’s share in energy mix >50% INDONESIA North & East Asia • China CHP : +52 MWe expected COD by 4Q19, bringing to total capacity to 610 MWe • SLG : target COD by 4Q20 Banpu coal operations BPP thermal power plant Potential expansion Note:* MW equivalent 8

Energy Generation – Renewables Total of Banpu Power’s equity capacity and Banpu’s equity in Sunseap shown in bold Gross capacity shown in small font SE Asia • Soc Trang wind : phase 1 to start construction end 2019 while continue pre-feasibility study for JAPAN CHINA phase 2 & 3 236 MW solar * 1 77 MW solar 366 MW gross • Ninh Thuan solar : COD 168 MW 177 MW gross (59 MW in operation; (7 projects 307 MW under all in operation) in June 2019 development) • Potential : evaluating solar farm TAIWAN opportunity in Vietnam with 4 MW solar potential aggregate of 310 MW 22 MW gross (under development) North & East Asia VIETNAM • China solar : +25 MW new 65 MW solar 80 MW wind acquisition and already COD, 248 MW gross bringing total portfolio to 177 MW (168 MW Ninh Thuan solar COD June 2019, 80 MW Soc Trang wind • Japan solar : 5 projects under under development) construction and development with one project target to COD in 4Q19, +19 MW • Potential : actively explore new opportunities in current footprints and beyond BPP solar farm Sunseap solar farm BPP wind farm Potential expansion Note:*Include 233 MW BPP solar farm and 3 MW Sunseap solar farm 9

Banpu Energy Generation: key strengths Track record Balanced, Focus on Delivering over 20 years in sustainable fast growing our growth energy generation and synergistic Asia promise • Two decades of value- • • Geographically • Combination of core On track with creating experience cash flow stability, diversified portfolio in development of upside potential and some of the most projects in pipeline • Track record in long-term growth attractive growth • learning new skills Actively seeking markets in Asia-Pacific • and technology fast Energy resources new investment • Positioned to take synergy: supply for opportunities in • Banpu people: thermal power plants advantage of the best current footprints aptitude, adaptability growth deals across and beyond • and versatility Renewables synergy: Asia and beyond sharing of knowledge and expertise 10