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EASTWATER S Opportunity Day Q3/2018 1 DISCLAIMER o The - PowerPoint PPT Presentation

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EASTWATER S Opportunity Day Q3/2018 1 DISCLAIMER o The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to

  1. EASTWATER ’ S Opportunity Day Q3/2018 1

  2. DISCLAIMER o The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Eastern Water Resources Development and Management Public Company Limited ( “ EASTW ” and shares in EASTW, “ shares ” ) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. o This presentation has been prepared by the EASTW. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the EASTW or any of its agents or advisors, or any of their respective affiliates, advisors representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. o This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. o This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws. 2 Note: All currency figures within this presentation are presented in Thai Baht ( “ Bt. ” ) unless otherwise stated.

  3. AGENDA Business Overview • Vision of East Water • Group Structure & Shareholders • Our Business & Performance • Raw & Tap Water Business Business Outlook Business Direction 3

  4. EAST WATER - INFORMATION VISION “ To be the leader in total water solutions of the country ” COMPREHENSIVE WATER SOLUTIONS Waste Water Raw & Tap Industrial Recycled Water Water Management Water 4

  5. GROUP STRUCTURE & SHAREHOLDERS PWA MWC IEAT 40.20% 18.72% 4.57% PWA: Provincial Waterworks Authority MWC: Manila Water Company, Inc. Raw Water Business IEAT: Industrial Estate Authority of Thailand 100% Tap Water & Related Business Concessions under East Water: Concessions under UU: Concessions under UU & Subsidiaries: • Sattahip Waterworks • Rayong Waterworks • Nakornsawan Water Supply Co., Ltd. • Bowin Waterworks • Egcom Tara Water Supply Co., Ltd. • Chonburi Waterworks • Koh Lan Waterworks • Chachoengsao Water Supply Co., Ltd. • Nong Kham Waterworks • Koh Samui Waterworks • Bangpakong Water Supply Co., Ltd. • Lak Chai Muang Yang Waterworks • Hua Roa Waterworks 5

  6. STOCK INFORMATIONS Historical P/E and Share Price Major shareholders Institution Investors Manila Water 18.21% Market capitalization THB 18. 8.30 30 Billion on 18.72% THB/share EGCO has completed the sale all of the 30.0 shares in EASTW to 16.99 Retail 16.48 18.00 MWC on Mar 14, 2018 15.44 15.13 Investors 13.81 13.50 Paid-up Capital 18.30% 20.0 12.00 THB 1,663.73 12.40 12.20 11.80 Million 11.60 63.49% 11.00 10.80 (Total of PWA, MWC, IEAT) 10.0 6.00 IEAT 4.57% PWA 0.0 0.00 40.20% 2013 2014 2015 2016 2017 Sep-18 PWA: Provincial Waterworks Authority Share price (end of year) P/E MWC: Manila Water Company, Inc. IEAT: Industrial Estate Authority of Thailand 6 Note: Info as of 28 Sep 2018

  7. SHARE INFORMATION AND DIVIDEND PAYMENT Dividend policy is not less than 30% of normal net profit Baht/share 1.00 80.0% 69.4% 70.0% 64.4% 60.3% 0.80 59.0% 57.1% 56.1% 56.0% 60.0% 53.2% 50.0% 0.60 * 40.0% 0.84 0.40 0.80 0.79 0.78 30.0% 0.75 0.73 0.61 20.0% 0.47 0.47 0.47 0.45 0.44 0.42 0.42 0.20 0.35 10.0% 0.20 0.00 0.0% 2011 2012 2013 2014 2015* 2016 2017 1H2561** EPS DPS % Dividend payout ratio * Excluding the net profit of 183.32 MB from measuring fair value of 15.88% equity interest in Egcom Tara ** Interim dividend for the 1H2018 is 0.20 THB per share and has been paid on 5 th September 2018. 7

  8. OUR BUSINESS & PERFORMANCE Revenue Structure of 2017 Mil. Bt. 5,000 4,659 4,414 4,357 4,305 11% 3,956 3,726 4,000 Other 3,310 3,196 3,107 1 2,878 3,000 33% 2,437 Tap Water 2,000 1,585 1,334 1,313 1,309 1,240 1,221 1,008 890 56% 870 807 1,000 571 0 Raw Water 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 9M/2018 Revenue Net Profit 8

  9. FINANCIAL RATIOS Key Financial Ratios As of Q3/2017 As of Q3/2018 Liquidity Ratio Current ratio (time) 0.52 0.41 Profitability Ratio (1) Gross profit / total sales and services revenue (%) 52.94% 50.16% Net profit / total sales and services revenue (%) 32.74% 28.17% Performance Ratio Return on Equity (ROE) (%) 12.73% 10.89% Return on Assets (ROA) (%) 6.42% 5.69% Capital Structure and Debt Ratio Debt to Equity ratio (time) 0.93 0.86 Debt Service Coverage ratio (DSCR) (time) 2.22 2.13 9

  10. BUSINESS OVERVIEW : RAW WATER (1/2) Pluak Dang- RAW WATER: Sales volume bowin 350 296 Laem - 282 282 278 271 257 257 256 251 Chabang 226 188 150 166 Map Ta Phut 2013 2014 2015 2016 2017 9M2018 -50 Distribution Volume Sales Volume 10

  11. BUSINESS OVERVIEW : RAW WATER (2/2) RAW WATER: RAW WATER: Distribution by Customer Group GP & Cost Breakdown Private Industrial Household 13% Park2% Maintenance Depreciation 6% 33% Factories1% Others16% GP of Raw Water 188 Mil. Cu.M. of 9M2018 Internal 61.29% Usage (9M2018) 12% Raw water Electricity Industrial Estate 16% 29% 72% 11

  12. BUSINESS OVERVIEW : TAP WATER (1/2) 12

  13. BUSINESS OVERVIEW : TAP WATER (2/2) TAP WATER: Sales volume 100 96 93 84 76 72 68 50 Hua Ror Nakhorn Sawan 0 2013 2014 2015 2016 2017 9M2018 Ratchaburi - Chachoeng Sao Sales Volume Samut Songkram Bang Pakong TAP WATER: GP & Cost Breakdown Nong Kham Chonburi Rayong Sattahip Total Production Capacity Lak Chai Koh Lan 400,310 Raw Water Depreciation 18% Bo Win 33% (Cu.M./Day) GP of Tap Water Koh Samui Average Sales Volume of 9M2018 267,683 37.62% Electricity 16% (Cu.M./Day) Wages 23% Chemical Other 4% 6% 13

  14. AGENDA Business Overview Business Outlook • Demand & Supply Forecast • Water Situation & Business Strength • Project on process Business Direction 14

  15. DEMAND & SUPPLY FORECAST 20 YRS. 900 850 6. Prasae additional 7. Thab Ma pond 8. Prasae additional 1. Raising the 3. Klong Luang 9. Water diversion 800 20 Million m 3 efficiency of 40 Million m 3 water allocation water allocation Klaeng district 70 Million m 3 Bang Pakong 4. Thab Ma pond 50 Million m 3 70 Million m 3 750 River by 27 Million m 3 (Klong Sapan-PS-NK-BP) (Klong Wang Ta Not-PS-NK-BP) 700 20 Million m 3 5. Private ponds Water volume ( million cubic metres ) 719 2. Klong Phan 650 4 Million m 3 Thong 600 649 Forecast water capital 719 Million m 3 20 Million m 3 550 579 559 500 509 450 400 438 350 Current water capital 398 Million m 3 300 296 282 282 279 278 260 256 251 250 200 150 100 50 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Year 15

  16. OVERVIEW OF WATER SITUATION Info as of 16 Nov 2018 CHONBURI RAYONG Bangpra Nongkho Dokkrai Nongplalai Klongyai Prasae 117.00 21.40 79.41 163.75 40.10 295.00 Reservoir Capacity (M. Cu.M.) 95.19 18.62 78.11 165.90 37.83 272.29 Water Reserve (M. Cu.M.) 83.14 17.62 75.11 152.40 34.83 252.29 Useable storage volume (excluding Dead Storage) 100.76 514.63 (M. Cu.M.) 18.62 71.06% 82.34% 94.59% 93.07% 86.86% 85.52% % Total Capacity 95.19 3 7.83 2 72. 2 9 165.90 78.11 Source of data: Royal Irrigation Department 16

  17. WATER SITUATION IN CHONBURI • Info as of 16 Nov 2018 17

  18. WATER SITUATION IN RAYONG • Info as of 16 Nov 2018 18

  19. WATER SITUATION IN PRASAE, RAYONG • Info as of 16 Nov 2018 19

  20. EEC AREA Bang Phra Nong Kho Nong-Pla-Lai Klong Yai Prasae Dok Krai Leased Pipe Network Reservoir 20

  21. EEC AREA Bangpakong- pumping +20 MCM (2019) Bang Phra Nong Kho Clarified water projects O N GOING ( Gulf/Amata) Klong Yai Prasae Nong-Pla-Lai P ROJECTS Dok Krai Tabma +47 MCM (2020) Leased Pipe Network Existing Pipe Network Reserve Water Resource Main Water Resource Raw Water Projects Clarified Water Projects 21

  22. SIGN CONTRACT NEW PROJECTS GULF IPP AMATA CITY RAYONG 22

  23. AGENDA Business Overview Business Outlook Business Direction • Opportunities Projects • Water Innovation Project 23

  24. EEC AREA Bang Phra P OTENTIAL Digital Nong Kho Park O PPORTUNITIES Klong Yai Prasae Nong-Pla-Lai P ROJECTS Dok Krai Clarified Water Leased Pipe Network Existing Pipe Network Reserve Water Resource U-Tapao Airport Main Water Resource Clarified Water Projects 24

  25. WATER INNOVATION PROJECT 25

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