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บริษัท เด็มโก้ จ ำกัด (มหำชน) DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2018

1. Factory & Sale – Steel structure for transmission line and telecommunication tower 2. SERVICES (as turnkey contractor) – Electrical system – Mechanical system – Renewable Power Plant (Wind farm, Solar farm, Waste to energy) 3. Investment – Power Plant : wind farm & Solar farm & Waste to energy – Public Utility 2

Annual capacity 16000 ton per year  Telecommunication Tower  High Voltage Transmission Line 3

4 ลักษณะการประกอบธุรกิจ - งานบริการ • ระบบงานวิศวกรรมไฟฟ ้ าครบวงจร  Electrical System 500 kV - 230 kV Substation 115 kV - 22 kV Substation 230 kV - 115 kV Substation Hydro / Power Plant 4

1. High Voltage Transmission Line System Construction : To transmit electrical power from electrical generators to 69 kV – 500 kV substations  Hot dip galvanized steel tower for transmission line manufactured by DEMCO PLC as well. 5

2. High Voltage Substation Construction : To control, monitor, and step up/down 69 kV – 500 kV power system transmitted from electrical generators through high voltage transmission line  Air Insulated or Conventional Type (Out door)  SF6 Gas Insulated Type (In door) 6

3. High Voltage Distribution Line System Construction and Underground Cable System Construction :  HV Distribution system – Concrete poles with accessories construction & stringing conductors or cables to 22kV or 33 kV electrical equipment  HV Underground Cable System – Conduit work and 22 kV – 115 kV underground cable extrusion 7

Design, procure, construct, install, and maintain public utility system of electrical system, air conditioning & ventilating system, sanitary system, and high pressure piping system for gas or steam 8

Renewable Energy :  Design , procure, construct, and install equipment for renewable power plant of Biomass, Wind farm and Solar energy Past Experience : – Constructed 453 mw wind farm as balance of plant contractor , contracts amount ฿ 8,046 million Constructed 321 mw solar farms , contracts amount ฿ 8,677 million – 9

Wind farm : 57.9 mw.  15% in 180 mw. Wind farm (operated 2012 – 2013) = 27.0 mw.  14% in 60 mw. Wind farm (operated 2016) = 8.4 mw.  3.9% in 576 mw. Wind farm (126 mw. operated) = 22.5 mw. Solar farm : 3.0 mw.  100% in 1 mw. Solar rooftop (COD operated 2014) = 1.0 mw.  45.7% in 3 mw. Solar farm (COD operated 2014) = 1.3 mw.  49-51% in 1.4 mw. Solar rooftop (COD operated 2015) = 0.7 mw. Water supply system :  90% in water supply system concession (operated 2017) 10

Financial highlight : ( 947 MB ⇨ 1,175 MB )  Revenue increased 24% Q2’17 o Q2’18 ( 2,184 MB ⇨ 2,459 MB )  Revenue increased 12% 1H’17 o 1H’18 ( 10.06% ⇨ 11.66% )  Gross profit margin increased Q2’17 o Q2’18 ( 11.00% ⇨ 11.88% )  Gross profit margin increased 1H’17 o 1H’18 Gross profit increased 45% Q2’17 o Q2’18 ( 94 MB ⇨ 136 MB )  Gross profit increased 22% 1H’17 o 1H’18 ( 237 MB ⇨ 289 MB )  ( 22 MB ⇨  Net profit increased 118% Q2’17 o Q2’18 49 MB ) 76 MB ⇨  Net profit increased 65% 1H’17 o 1H’18 ( 126 MB ) Net profit margin increased Q2’17 o Q2’18 ( 2.39% ⇨  4.20% ) 3.48% ⇨  Net profit margin increased 1H’17 o 1H’18 ( 5.13% ) 11

Statement of Comprehensive Income - Revenues Structure Revenues by Categories : ฿ million ,% 2,000 3,500 1,703 3,125 3,000 -30% 1,500 -44% 2,459 12% 2,500 2,184 1,175 24% 947 2,000 1,000 1,500 1,000 500 500 0 0 1% 4% 95% 1% 11% 88% 1% 18% 81% 1% 4% 95% 1% 18% 81% 1% 21% 78% Q2'16 Q2'17 Q2'18 1H'16 1H'17 1H'18 Other Sales Service total Other Sales Service total Total revenue of Q2 ’ 18 and 1 H’ 18 increased 24% and 12 % compared to the same period of Y’ 17 due to the increasing of service revenue. 12

Statement of Comprehensive Income - Revenues Structure Revenues from Sale : ฿ million ,% 300 600 512 500 31% 209 389 200 400 107% 195% 300 100 100 200 58% 131 63 100 0 0 25% 75% 9% 91% 44% 56% 16% 84% 47% 53% 55% 45% 1H'16 1H'17 1H'18 Q2'16 Q2'17 Q2'18 Electrical equipments Steel Structure total Electrical equipments Steel Structure total Revenues from sale of Q2’18 and 1H’18 increased 107 % and 31% compared to the same period of Y’17 due to the growth from both trading Electrical equipments business and steel structure business. 13

Statement of Comprehensive Income - Revenues Structure Revenues from Services : ฿ million ,% 2,000 3,500 1,624 2,973 3,000 1,500 -48% -40% 2,500 1,922 8% 1,770 2,000 960 1,000 15% 833 1,500 1,000 500 500 0 0 9% 43%48% 13% 51% 36% 6% 42% 52% 10% 58%32% 3% 93% 4% 4% 92% 4% Q2'16 Q2'17 Q2'18 1H'16 1H'17 1H'18 Other Electrical work Renewable Total Other Electrical work Renewable Total Revenues from services of Q2’18 and 1H’18 increased 15 % and 8% compared to the same period of Y’17. The major increasing is from the Electrical work. 14

Statement of Comprehensive Income - Revenues Structure Revenues by Customers : ฿ million ,% 2,000 3,500 2,973 1,624 3,000 1,500 -40% -48% 2,500 1,922 8% 2,000 1,770 960 15% 1,000 833 1,500 1,000 500 500 0 0 40% 60% 39% 61% 47% 53% 52% 36% 64% 39% 61% 48% Q2'16 Q2'17 Q2'18 1H'16 1H'17 1H'18 Government Private Total Government Private Total For Q2’18 and 1H’18 , the percentage of works from Government Sector increased due to the increasing in EGAT’S investment. For private sector, it was decreased due to decreasing in renewable energy projects. The investment in renewable energy changing from solar farm & wind farm to biomass power plant. 15

Statement of Comprehensive Income Earning from operation Gross Profit : ฿ million ,% 289 150 300 136 22% 237 45% 25% 102 -8% 189 94 100 200 50 100 0 0 5% 95% 9% 91% 19% 81% 9% 91% 26% 74% 12% 88% Q2'16 Q2'17 Q2'18 1H'16 1H'17 1H'18 Gross Profit - sales Gross profit - service Total Gross Profit - sales Gross profit - service Total Gross profit of Q2’18 and 1H’18 increased 45% and 22% compared to the same period of Y’17 due to the change in service revenue, major portion, from large renewable power plant projects to the construction of substations and transmission line which gained better margin. 16

Statement of Comprehensive Income Earning from operation Average Gross Profit margin : % 15% 15% 11.88% 11.66% 11.00% 10.06% 10% 10% 6.05% 6.12% 5% 5% 0% 0% Q2'16 Q2'17 Q2'18 1H'16 1H'17 1H'18 Gross profit margin Gross profit margin Average gross profit margin of Q2 ’ 18 and 1 H’ 18 increased when compared to the same period of Y’ 17 increased due to the increasing of construction projects that caused higher gross profit margin. 17

Statement of Comprehensive Income Earning from operation Net Profit : ฿ million ,% 49.42 50 40 51% 200 30 4.61 22.61 126 20 100 48% 56% -216 76 583% 49% 10 85% 34% 52% 44% 0 0 15% -10 -483% -100 -20 -134% -30 -200 Q2'16 Q2'17 Q2'18 -300 Profit exclude share profit (loss) associates Share profit(loss) associates 1H'16 1H'17 1H'18 Profit exclude share profit (loss) associates Share profit(loss) associates Net profit of Q2 ’ 18 and 1 H’ 18 increased when compared to the same period of Y’ 17 due to the increasing of gross margin and share profit from associate. 18

Statement of Comprehensive Income Earning from operation Net Profit margin : % 6% 6% 5.13% 4% 3.48% 4.20% 4% 2% 2.70% 2.39% 0% 2% -2% -4% 0% Q2'16 Q2'17 Q2'18 -6% Net profit margin -6.92% -8% 1H'16 1H'17 1H'18 Net profit margin Net margin of Q2’18 and 1H’18 showed profit 4.20% and 5.13% due to the increasing in gross profit margin and share profit from associate. 19

Statement of Financial Position ASSET LIABILITIES & EQUITY 7,733 7,733 7,117 7,117 7,034 7,034 4,127 4,467 48% 3,176 3,557 50% 3,399 45% 3,155 45% 58% 53% 7% 475 503 7% 4% 342 55% 55% 47% 3,941 38% 3,879 45% 3,606 43% 3,057 3,160 2,924 2016 2017 2018 2016 2017 2018 Current liabilites Current assets Non-Current liabilites Non-current assets Shareholders'equity KEY RATIO Debt to Equity Interest Bearing Debt to Equity ROE ROA 2016 1.64 2016 0.91 2016 -5.33 2016 -2.13 2017 1.33 2017 0.77 2017 2.10 2017 0.89 2018 1.23 2018 0.64 2018 F 7.98 2018 F 3.58 20