BGRIM: Investor Presentation for Q12019 May 2019 Agenda 4 - PowerPoint PPT Presentation

BGRIM: Investor Presentation for Q1’2019 May 2019

Agenda 4 HIGHLIGHTS BGRIM UPDATE Q1’2019 OPERATING RESULTS Q 1’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 1 1

กรอบระยะเวลาด าเนินการของ SPP Replacement Scheme ภายใน ส . ค . 2 พ . ค . 16-17 พ . ค . 24 ม . ค . 2562 กกพ. ประกาศเชิญชวน กฟผ . จะมีหนังสือ กพช. อนุมัติการต่อ การรับซื้อไฟฟ้าจากผู้ผลิต บี.กริม เพาเวอร์ ตอบรับซื้อไฟฟ้าและ อายุสัญญาโรงไฟฟ้า Application ไฟฟ้าเอกชนรายเล็ก ยื่นค าเสนอขอ ผู้ผลิตไฟฟ้าเอกชนราย แจ้งผลการพิจารณา submission ประเภท Firm ระบบ ขายไฟฟ้าต่อ กฟผ. เล็ก (SPP) และการ ต่อกกพ . และผู้ยื่น Cogeneration ที่จะสิ้นสุด จ านวนทั้งสิ้น 5 โรง ก่อสร้างโรงไฟฟ้าใหม่ ขอผลิตไฟฟ้าเอกชน อายุสัญญาในปี 2562-2568 ทดแทนโรงไฟฟ้าเดิม รายเล็ก * ( ก่อสร้างโรงไฟฟ้าใหม่ ) * * อ้างอิงจาก : ประกาศคณะกรรมการก ากับกิจการพลังงาน ( ลงวันที่ 2 พ . ค . 2562 ) Q 1’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 2

SPP Extension and Replacement Scheme 2019 2024 2021 2022 2023 2020 ABP1 140-150 MW, (51.2% holding), 25 years 166 MW, (15.3% holding) 166 MW, (51.2% holding) ABP2 171 MW, (15.3% holding) 140-150 MW, (51.2% holding), 25 years 103 MW, (100.0% holding) BPLC1 140-150 MW, (100.0% holding), 25 years SPP1 #1 62 MW, (100.0% holding) 62 MW, (100.0%) 70-140 MW, (100.0% holding), 25 years SPP1 #2 62 MW, (100.0% holding) 62 MW, (100.0%) 70-140 MW, (100.0% holding), 25 years Key consideration Existing Replacement Extension* EGAT PPA period (years) 25 21-25 1-3 Up to 90 Up to 30 EGAT contract capacity (MW) Up to 60 Capacity Payment + Energy Payment Capacity Payment + EGAT Tariff Energy Payment Energy Payment IU Tariff Benchmark with PEA Benchmark with PEA Benchmark with PEA Contracted heat rate 7,409 8,282 8,600 (mmBTU/KWh) ABP1, SPP1 (2 plants) BGRIM’s power plants applied ABP1, ABP2, BPLC1, ABP1, ABP2, BPLC1, SPP1 (2 plants) SPP1 (2 plants) with this scheme *For PPAs expired in 2019 - 2021 Q1 ’ 2019 BGRIM INVESTOR PRESENTATION Q3 ’ 2018 UPDATE Q3 ’ 2018 UPDATE 3

Vietnam solar projects are on track with SCOD in June 2019 Dau Tieng Tay Ninh Energy Solar Phu Yen TTP Solar Plant Project Plant Project (Xuan Cau) (Phu Yen) Type of Fuel: Solar PV Type of Fuel: Solar PV Capacity: Installed - up to 420 MW dc Capacity: Installed - up to 257 MW dc Contract - up to 350 MW ac Contract - up to 214 MW ac Economic Economic Ownership: 55% Ownership: 80% EVN PPA : 350 MW / 20 years EVN PPA : 214 MW / 20 years Progress: Finished transmission line Progress: Finished transmission and commissioning. line and on process of commissioning process. 2019 Timeline June 15 - 2 0 May 15 June 5 May 1 2 May 6 Commissioning Commissioning Target COD Target COD Commissioning Phuyen TTP DT 2 DT1 DT1 (180 MWdc) DT2 (240 MWdc) Target COD Phuyen TTP (257 MWdc) Q1 ’ 2019 BGRIM INVESTOR PRESENTATION BGRIM OVERVIEW Q3 ’ 2018 UPDATE Q3 ’ 2018 UPDATE Q3 ’ 2018 OPERATING RESULT BGRIM OVERVIEW 4

DT1&2 and Phuyen TTP Vietnam Solar Projects DT1&2 Phuyen TTP Q1 ’ 2019 BGRIM INVESTOR PRESENTATION BGRIM OVERVIEW Q3 ’ 2018 UPDATE Q3 ’ 2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 5

MOU Signing with Strong Partners MOU signing with Siemens and TPSC MOU signing with LG Chem (Mar 23, 2019) (May 14, 2019) Service Collaborations to improve 9 power plants Cooperation with LG Chem, world leader performance for increasing the availability and in fields of energy storage system (ESS), efficiency as well as introducing digitalization to automotive batteries and mobile batteries, their operation and maintenance. for the development in energy storage system. Q1 ’ 2019 BGRIM INVESTOR PRESENTATION BGRIM OVERVIEW Q3 ’ 2018 UPDATE Q3’2018 UPDATE Q3 ’ 2018 OPERATING RESULT BGRIM OVERVIEW 6

BGRIM 2019 activities Q3 Q4 Q1 Q2 ✓ MOU signing ✓ COD ✓ Ft increased ✓ Expect to with LG Chem Interchem from Jan 2019 synchronize (5 MW) 5 IU MW to ✓ Synchronized ✓ Synchronized ABPR5 ✓ No scheduled additional additional 3 IU maintenance 10 IU MW to MW to ABPR5 ✓ First quarter to ABPR4 in April period in Feb fully recognize revenue from ✓ Additional ✓ Successful Glow 692 MW COD SPP1 acquisition refinancing in Q2’2019 124 MW opportunity of ~ THB 2.2 Bn ✓ MOU signing ✓ COD Nam Che with Siemens ✓ Rising MW contribution from (15 MW) and TPSC renewable power to 30% from 8 %, leading to potentially higher EBITDA ✓ COD DT1&2 (420 margin MW) and Phuyen TTP (257 MW) ✓ No scheduled maintenance period *Based on our projections Q 1’2019 BGRIM INVESTOR PRESENTATION BGRIM OVERVIEW Q3 ’ 2018 UPDATE Q3 ’ 2018 UPDATE Q3 ’ 2018 OPERATING RESULT BGRIM OVERVIEW 7

Agenda 4 HIGHLIGHTS BGRIM UPDATE Q1 ’ 2019 OPERATING RESULTS Q 1’2019 BGRIM INVESTOR PRESENTATION Q3 ’ 2018 UPDATE Q3 ’ 2018 OPERATING RESULT BGRIM OVERVIEW 8 8

Awards and Recognition Awards and Recognition SET50 ✓ SET100 ✓ SETCLMV ✓ ASIA Project of The Most Innovative Best Energy Solutions the Year 2015: Bond Deal Provider Best Distributed Generation Project FTSE SET Mid Cap The First Non- financial Certificate EIA Monitoring Certificate of the Carbon Corporate Green Bond from Footprint for of membership Awards 2016 Thailand Organization (CFO) of GEIDCO* *Global Energy Interconnection Development and Cooperation Organization Q1 ’ 2019 BGRIM INVESTOR PRESENTATION 9

Awards and Recognition “ Thailand Sustainability Investment (THSI) List ” (by Stock Exchange of Thailand) “ ESG 100 ” (by Thaipat Institute) “ Sustainability Report Awards ” (by Stock Exchange of Thailand) “ Thai CAC ” “ CGR Score ” (by Thai Institute of (by Thai Institute of Directors Association (IOD)) Directors Association (IOD)) “ Very Good ” “ AGM Level ” ( by Thai Investors Association) Q 1’2019 BGRIM INVESTOR PRESENTATION 10

Well-Diversified Portfolio with Expert in Green-Field Developer SPP – INDUSTRIAL ESTATE 69.5% RENEWABLE GROUP 30.1% Gas Fired Wind Group WHA (Map Ta Put) Waste to Energy (IWTE) 16 MW 140 MW 0.5% 1.6% 5 MW (Under Development) (Including SPP1 Replacement) (Under Development) Amata City (Chonburi) WHA Chonburi 1 675 MW 13.6% Hydro Group 130 MW (Including ABP1&2 5.8% 6.2% Laem Chabang 133 MW Replacement 140 MW each) 196 MW ( 113 MW Under Development ) (Including BPLC1 29.9% 8.7% Total 975 MW Replacement 140 MW) In Operation 165 MW* Total 2,257 MW 10.1% Bangkadi Solar Group In Operation 2,022 MW* 229 MW 84.3% 822 MW (677 MW Under Development) 10.6% Installed MW Equity MW BGPR1&2 240 MW Type of 28.7% Amata City (Rayong) Total In Total In % % Energy (Under Development) Capacity operation Capacity operation 647 MW Gas 69.5% 2,257 MW 2,022 MW 1,202 MW 1,587 MW 70.2% fired *Up to 280 MW 133 MW 4.1% 95 MW 4.2% Hydro 20 MW 14 MW TRANSMISSION & DISTRIBUTION 0.4% Diesel 25.3% 24.7% Solar 822 MW 145 MW 557 MW 135 MW Wind 16 MW 0.5% 15 MW 0.7% IWTE 5 MW 0.1% 2 MW 0.1% Bien Hoa 13 MW Poi Pet PPSEZ 14 MW** SOLAR ROOFTOP 0.4% 0.2% Solar rooftop for industrial Diesel 13 MW 13 MW 4 MW 4 MW users and commercial buildings with up to 100 MW Total 3,245 MW 100% 2,200 MW* 2,260 MW 100% 1,355 MW* opportunity** *As of April 2019 **Transmission & distribution and solar rooftop only which not included in power plant installed capacity of 3,245 MW Q1 ’ 2019 BGRIM INVESTOR PRESENTATION 11

Long-Life PPA and Benefit from Well-Establishment of PPA 2018 SALES AND SERVICE INCOME BY CUSTOMER WEIGHTED AVERAGE REMAINING PPA LIFE Track Record of Extensions Steam-TH Others 2% 3% 24.6 22.6 Years IU-VN Years 19.0 3% 15.0 Years Years Years 9.1 IU-TH Years 25% EDL PEA / MEA EGAT Industrial users - electricity (Thailand) THB 10,257 mm Q1 ’ 2019 Sales and Service Income LONG-TERM PPA STRUCTURE • EGAT : 21 to 25 years tenor with take-or-pay structure • EGAT PEA : 25 years tenor (VSPP of solar, wind, waste to energy) • 67% Industrial Users : up to 15 year tenor with track record of extensions Secured Gas Supply with PTT covering respective PPA tenors Gas price pass-through at contracted heat rate under EGAT PPA Note : Weighted Average Remaining PPA life is calculated as the average remaining contractual term remaining from 31 December 2018 to expiry weighted by the aggregate contracted capacity under the relevant agreement Q 1’2019 BGRIM INVESTOR PRESENTATION 12