Continued Growth and New Product Introduction SET Opportunity Day Q1 - PowerPoint PPT Presentation

Golden Lime 2019 Q1 Update: Continued Growth and New Product Introduction SET Opportunity Day Q1 2019 Bangkok, May 28 th 2019 Golden Lime Public Company Limited 1 Golden Lime Public Company Limited

Disclaimer This presentation contains “forward - looking” statements of Golden Lime Public Company Limited (the “Company”) that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of historical fact contained herein, including, without limitation, those regarding the future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where the Company participates or is seeking to participate and any statements preceded by, followed by or that include the words “target”, “believe”, “expect”, “aim”, “intend”, “will”, “may”, “anticipate”, “would”, “plan”, “could”, “should, “predict”, “project”, “estimate”, “foresee”, “forecast”, “seek” or similar words or expressions are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as at the date of this presentation, and the Company does not undertake any duty or obligation to supplement, amend, update or revise any such statements. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved. For an further enquiries please contact Investor Relations: Phone: +66 (0) 2017 7461 – 3 Email: irsutha@goldenlime.co.th 5/28/2019 2 Golden Lime Public Company Limited

Purpose Of The Presentation  Golden Lime Q1 2019 Financial Update  Golden Lime New Product Introduction: First in Thailand Bringing Value Addition To Steel Customers  Golden Lime’s Growth Strategy Update Source : Golden Lime quarterly SET reporting 5/28/2019 3 Golden Lime Public Company Limited

Golden Lime Key Value Drivers A Good Opportunity For Growth In Stable Diversified Markets 1. Golden Lime Backed By Key Strategic Investors  Carmeuse with 160 years of experience in the limestone & lime business globally providing a background of extensive expertise and knowledge and the latest engineering and process solutions  GP Group with150 years of experience of doing business in Thailand and Asia 2. Demonstrated Growth Potential Over The Last Year  Greenfield investment with improved in-house EOD technology in a new kiln that has come online successfully with high quality product making a successful market entry  Acquisition and integration of Saraburi Quicklime with further benefits to come from synergies 3. Financial Results Are In An Upward Trend  Key financial indicators (EBITDA, Net Income, ROE, ROA) are in an upward trend  We see this trend continuing 4. Dividend Policy Provides Regular Cashflow  Historically Golden Lime has paid out a healthy dividend  Regular quarterly dividends in 2019 with a significant increase over 2018 5. Opportunity For Growth In The Near Term  Promising opportunities in export markets, in Thailand and through new products and markets 5/28/2019 4 Golden Lime Public Company Limited

Golden Lime 2019 Q1 Key Financials Revenue, EBITDA and Net Income Consolidated Including Saraburi Quicklime Golden Lime – Total revenues Golden Lime – EBITDA In million THB In million THB 246 1,121 1,082 230 221 208 942 919 857 179 805 172 Golden Lime – Net Income  2019 Q1 revenue increased 17% year-on-year due to the additional In million THB of volumes from the full effect of the acquisition of Saraburi 128 Quicklime and price increases. 101 96  EBITDA also increased up 12% year-on-year however impacted by 85 higher Q1 2019 combustible related variable costs which will 71 68 contribute to improved results in the coming quarters.  Net income was slightly down due to higher financing costs and one shot tax provisioning 5/28/2019 5 Golden Lime Public Company Limited

Golden Lime 2019 Q1 Key Financials ROA (Return on Assets) And ROE (Return on Equity) Golden Lime – Return on Equity Golden Lime – Return on Assets In million THB In million THB 28.3% 15.0% 15.6% 10.0% 14.5% 12.2% 12.2% 7.4% 11.3% 7.0% 7.0% 5.0% Q1 Q1 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019  ROA (Return on Assets) was slightly down year-on-year as the asset based increased while net income was down marginally due to one- shot tax provisioning impacts  ROE (Return on Equity) was also down due to the lower net income 5/28/2019 6 Golden Lime Public Company Limited

Golden Lime Key Financials Dividend: A Regular Cash Stream to Investors Golden Lime – EBITDA/Dividend Golden Lime – Net Income/Dividend Q1 Q1 Golden Lime Dividend History Future Plan For Dividends  Since going public Golden Lime has paid a regular  Golden Lime will continue to pay out regular dividends dividend on a bi-annual basis  In 2018 board decision was taken to pay out quarterly and  2018 the full pay-out was 0.27THB/share or 81mTHB this is set to continue total that at current share price represents a 6.8%  Q1 2019 dividend pay-out of 0.12THB/share or 36mTHB dividend yield total is a significant improvement year-on-year and is set to continue in future quarters 5/28/2019 7 Golden Lime Public Company Limited

Purpose Of The Presentation  Golden Lime Full Year Q1 2019 Financial Update  Golden Lime New Product Introduction: First in Thailand Bringing Value Addition To Steel Customers  Golden Lime’s Growth Strategy Update Source : Golden Lime quarterly SET reporting 5/28/2019 8 Golden Lime Public Company Limited

Golden Lime New Product Introduction: Steel Industry A Growing Customer Base After Tough Conditions in Q1 Thai Steel Industry Important Lime Customer  Lime for Steel Market Total crude steel production of 5-7 Mio ton per year  Total Lime consume in Steel Segment 200 kton/yr or 20% of total lime Share consume in Thailand  Market leader is GL with 55% market share  After introduction of dolime GL is in the only market participant in position to supply both CaO & MgO to its Steel customers offering full flux solution Others 45% 55%  GL Lime and dolime injection to replace top-charge will be soon introduced as well with selected partners to produce and sell in H2 2019 2019 Q1 Steel Volumes Down But Positive For The Future  Due to technical issues steel volumes were heavily impacted in Q1 2019  However, these issues are resolved or under resolution so the rest of 2019 will see a return to normal steel volumes  The entrant of Hebei Iron & Steel (HBIS) vie the Tata Steel acquisition in SE-Asia the 4 th largest steel producer in the world is expected to bring positive growth  It is an optimum time to introduce our new steel targeted product which is proven to add significant value in use and cost savings to steel customers and will give Golden Lime a unique position in Thailand 5/28/2019 9 Golden Lime Public Company Limited

Golden Lime New Product Introduction: Product Information - Specialized Flux for the Steel Industry  As the new product is produced using the same kilns as for our current range but with different calcination and sizing of the product  Installation of the equipment needed to maximize the output is being finalized with start-up in the coming weeks  Marketing of the product is planned to both domestic and also SEA Steel mills  Significantly higher value in use for customers will translate into outstanding revenue per ton  This product will replace imported alternative inferior product and also will provide the opportunity for the steel mills to achieve operational cost savings.  Standalone market position as supplier of both CaO and MgO flux products  Versatile delivery in lumps and briquettes ( for top charge ) of fines ( for injection ) to produce and sell in H2 2019 5/28/2019 10 Golden Lime Public Company Limited

Purpose Of The Presentation  Golden Lime Full Year Q1 2019 Financial Update  Golden Lime New Product Introduction: First in Thailand Bringing Value Addition To Steel Customers  Golden Lime’s Growth Strategy Update Source : Golden Lime quarterly SET reporting 5/28/2019 11 Golden Lime Public Company Limited