Company Presentation Q1 2020 July 2020 Agenda 1. Corporate - PowerPoint PPT Presentation

Company Presentation – Q1 2020 July 2020

Agenda 1. Corporate Overview 2. Key Developments from Q1 2020 to Date 3. Q1 2020 Consolidated Performance 4. Subsidiaries’ Performances 5. Consolidated Financial Position 2

Corporate Structure 31.32% (2) 19.40% (3) Bangkok Expressway 18.47% (3) TTW Public CH. Karnchang and Metro Public Company Limited Public Public Company Company Limited (TTW) Limited (CK) (BEM) 16.64% (1) 24.98% (1) 31.90% (1) 26.48% (1) (1) As of 25 June 2020; (2) As of 23 April 2020; (3) As of 10 March 2019; (4) Total paid-up shares = 8,129,515,897 shares 3

Our Projects 1. Nam Ngum 2 (NN2) Installed Capacity Breakdown Solar Thailand Hydro Cogen 238 29 12% COD: Jan 2013 12 2 Ownership: 46.0% 2,167 2,167 Capacity MW: 615 MW 1 MW Equity MW: 283 88% 1,900 2. Xayaburi (XPCL) Lao PDR Bangkhenchai (BKC) 4 Ownership: 100% 11 COD: Oct 2019 Project Capacity Electricity Sales 5 Ownership: 37.5% 4. Bangkhenchai Solar 8.00 MW Aug 2012 3 Capacity MW: 1,285 5. Phachi Solar 0.89 MW Feb 2019 6 7 10 Equity MW: 482 8 9 6. Banglen Solar 0.97 MW May 2019 7. Phutthamonthon Sai 5 0.97 MW Jun 2019 8. Mahachai Solar 0.72 MW Jun 2019 3. Bangpa-In Cogeneration 9. Krathum Ban 0.51 MW Jul 2019 (BIC1 & BIC2) 10. Khlong Preng 2.67 MW Under-construction 11. Nakhon 12. Chiangrai Solar Ratchasima Solar (CRS) (NRS) COD: Mar 2012 COD: Jan 2013 COD: Jun’13 / Jun’17 Ownership: 30.0% Ownership: 30.0% Ownership: 65.0% Total Installed MW Capacity = 2,167 MW Capacity MW: 6 Capacity MW: 8 Capacity MW: 118 / 120 Equity MW: 2 Equity MW: 2 Equity MW: 76 / 78 Total Equity MW Capacity = 939 MW 4

Key Developments During Q1 2020 CKP Announced Interim Dividend Payment NN2 Successfully Issued Debentures No.1/2020 • Date • Postponed 2020 AGM of Shareholders to 3 August 2020 : 5 March 2020 due to COVID-19 • Amount : Bt 600 mn • Paid Interim Dividend of Bt 0.030 per share from the • Rate / Tenor : 2.45% / 5 yrs FY2019 Operating Results • Offering Type : Private Placement • Investors : Institutional Investors TRIS Affirmed CKP’s Company and Issue Rating • Issue Rating : A / Stable • Company Rating : A / Stable • Issue Rating : A- / Stable TRIS Affirmed NN2’s Company and Issue Rating • Company Rating : A / Stable CKP-W1 Expiration • Issue Rating: : A / Stable • Last Trading Date : 29 April 2020 • Exercise Date : 28 May 2020 • Delisting Date : 29 May 2020 5

COVID-19: No Material Impact on Operation All power plants of CKP have been operating normally without any disruption from the COVID-19 situation. CKP has implemented strict preventive & response measures across all power plants and head office in Thailand and Lao PDR to ensure no interruption of electricity generation and business. Operation Management Cash Flow Management Community Reach-Out ▪ Activated site isolation protocol to ensure Balance Sheet & Cash Management Support surrounding communities and minimum exposure to potential risk of medical personnel through various initiatives ▪ Consolidated Cash-on-hands & short- COVID-19, including both in Thailand and Lao PDR term investment at Bt 5,159 mn o Scheduled disinfection of work areas ▪ Available Credit Lines of approximately o Temperature check requirement Bt 10 bn ▪ o Availability of all preventive CKP separate entity’s minimum cash can support over 2 years of normal Opex & equipment (mask, PPE, etc.) at all plant site financial cost. ▪ o Safety & emergency response Strict cost control throughout training organization ▪ Restricted traveling activities with quarantine measures for any traveling Customer Management parties in/out of plants ▪ No impact to electricity sales to EGAT, ▪ PEA and EDL Continue with all necessary maintenance ▪ activities to ensure top condition of Close monitoring of industrial customers power plants (Est. at 11% of consolidated revenue & 5% of EBITDA) 6

CKP’s Q1 2020 Consolidated Performance Consolidated Financial Performance Unit: Bt mn Key Highlights The decline in Q1 2020 performance compared to the previous REVENUE year was mainly due to: (27.1%) YoY ▪ The decrease in Electricity Sales of NN2 as a result of low 9,115 8,840 water inflow to the reservoir, which continued from last 6,930 6,809 6,359 year, and; 2,417 1,762 ▪ The increase in Share of Loss from investment in XPCL, driven also by lower-than-average water flow. EBITDA Excluding Share of Loss from XPCL of Bt 341 mn , CKP’s NPAT 56% 55% (70.8%) EBITDA 51% 50% 51% 49% would be Bt 1 mn. YoY Margin Unit: Bt mn Revenue Breakdown 20% 4,584 4,295 3,762 3,586 3,551 Project Mgt, 2% Project Mgt, 2% 1,222 357 Others, 7% Others, 1% Solar, 2% Hydro, 21% Solar, 1% NPAT 9% 7% 6% 6% 3% 2% NPAT Margin (19%) Q1 2019 Q1 2020 2,417 1,762 769 599 412 214 159 139 (340) Hydro, 43% Cogen, 53% (1) (2) Cogen, 67% 2015 2016 2017 2018 2019 Q1/19 Q1/20 7 (1) Excluded non recurring item; (2) Included Share of Profits from JVs and Associate Company

NN2: Q1 2020 Performance Total Revenue (1) Unit: Bt mn Monthly Electricity Sales and Water Inflow • The decrease in Q1 2020 revenue was due to low water inflow. GWh MCM End of May 2020 Water Level : +351.25 m.asl. Total Inflow Jan-May 2020 : 563 MCM • NN2 declared 2020 as Drought Year to waive minimum average production 500 1,200 Total Inflow Jan-May 2019 : 729 MCM hour requirements to avoid any potential fine charges. 1,000 400 (55.0%) 3,962 3,903 3,833 YoY 800 12 3,415 20 3,328 18 300 9 367 600 PE: 110 PE: 120 PE: 39 PE: 60 200 3,949 400 3,883 3,815 3,318 1,037 3,048 100 3 467 200 91 1,033 376 0 0 2015 2016 2017 2018 2019 Q1/19 Q1/20 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Revenue from Sales of Electricity Other Income Electricity 2019 Electricity 2020 Water Inflow 2019 Water Inflow 2020 Tariff Structure Electricity Sales Volume Unit: GWh PE Tariff SE Tariff EE Tariff Components 2016 2017 2018 2019 Q1 2020 Total Bt Year PE 2,032 1,829 1,980 1,675 200 US$/ Bt/ Bt/ Bt/ equivalent (2) / kWh kWh kWh kWh SE 71 25 130 4 - kWh EE - - 344 - - 2011-2012 0.02475 0.963 1.730 1.253 1.060 TE (IOD Period) 7 4 1 6 - 2013-2018 Account-PE - - - - - 0.02475 0.965 1.732 1.255 1.062 (First 6 years from COD) Account-SE - - - - - 2019 Onward 0.02668 1.041 1.868 1.353 1.145 Total 2,109 1,857 2,455 1,685 200 8 (1) SEAN’s Consolidated Financial Statements; (2) Long -term exchange rate assumption = Baht 31 per US$

XPCL: Q1 2020 Performance Unit: Bt mn Monthly Electricity Sales and Water Flow Total Revenue GWh CMS Monthly Average Water Flow for Q4 2019 : 1,745 CMS Q1 2020 Core EBITDA Margin Monthly Average Water Flow for Q1 2020 : 1,419 CMS 600 88.5% 2,000 1,784 1,788 1,937 1,545 1,411 8 1,500 400 1,300 1,567 1 1,000 435 1,929 200 404 368 1,565 332 297 500 0 0 (1) Jan-20 Feb-20 Mar-20 Apr-20 May-20 Q4 2019 Q1 2020 Electricity 2020 Monthly Average Water Flow 2020 Revenue from Sales of Electricity Other Income Tariff Structure Average Cost of Debt 6.46% 6.45% 6.43% 6.42% 6.01% PE Tariff SE Tariff 5.83% 5.31% Total Bt equiv. (2) US$ Bt Bt per per kWh per kWh per kWh kWh 0.0374 1.271 2.4298 1.652 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 May-20 (1) Excluding one-time gain on exchange; (2) Long-term exchange rate assumption of Baht 31 per US$ 9

BIC: Q1 2020 Performance Unit: Bt mn Total Revenue Monthly Electricity and Steam Production Q1 2020 Revenue decreased y-y, primarily due to: GWh Tons 150 10,000 • Maintenance outage of one of two gas turbine units of BIC1 in January • Lower natural gas price, which resulted in a decrease in Energy Payment 8,000 revenue 100 6,000 (8.7%) 5,038 YoY 4,871 8 4,000 7 50 2,000 3,322 0 0 6 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2,670 Electricity 2019 Electricity 2020 Steam 2019 Steam 2020 16 2,296 5,030 4,865 2 Electricity and Steam Sale Volume Unit: GWh/Tons 3,316 1,293 1,180 2016 2017 2018 2019 Q1 2020 2,655 1 0 2,293 EGAT 617 959 1,277 1,250 291 1,292 1,180 IUs 136 158 276 311 78 Total (GWh) 753 1,117 1,553 1,561 369 2015 2016 2017 2018 2019 Q1/19 Q1/20 Steam (Tons) 97,503 104,645 94,459 87,486 22,504 Avg. gas price Revenue from Sales of Electricity and Steam Other Income 240 236 258 273 267 (Bt/MMBTU) 10

BKC: Q1 2020 Performance Total Revenue (1) Unit: Bt mn Monthly Electricity Production (1) GWh Q1 2020 Revenue increased y-y, mainly driven by five new solar rooftop 2.0 power plants, which started operations during 2019. 1.8 1.6 +7.3% 1.4 YoY 1.2 160 1.0 2 149 0.8 147 141 139 1 2 0.6 1 3 0.4 0.2 0.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Electricity 2019 Electricity 2020 158 148 145 140 Electricity Sales Volume (1) Unit: GWh 136 39 37 2016 2017 2018 2019 Q1 2020 1 0 Electricity (GWh) 13.36 12.71 12.27 15.54 4.69 39 37 Avg. Ft (Bt/kWh) (0.33) (0.35) (0.30) (0.20) (0.23) 2015 2016 2017 2018 2019 Q1/19 Q1/20 Revenue from Sales of Electricity Other Income 11 (1) Include Revenue and Electricity Sales of new solar rooftop power plants