Energy Absolute Energy for us all, Energy for the FUTURE E@ at - PowerPoint PPT Presentation

Energy Absolute Energy for us all, Energy for the FUTURE

E@ at Glance At 20 March 2020 Established Others, In 2006 to produce palm oil 22.62% Somphote Core Business Ahunai (CEO), Energy (Renewable and Utilities) 43.61% Shareholder Secondary Market Structure Foreign Juristic, The Stock Exchange of Thailand since 30 Jan 2013 18.90% Market Capitalization (as of 15/05/20) Domestic Approximately THB 148.27 bil. (US$ 4.63 bil.) Amorn Fund, Sapthaweekul 11.35% (CFO) , 3.53% Total Board Members = 11 CG Rating Credit Rating Corporate rating : A Excellent Independent Executive Other Directors Directors Non - Executive = 6 (55%) = 2 (18%) = 3 (27%) 2

Safeguar eguard d for all stakeholders eholders Using g applicat ation on E@ Measur urem ement ent during ng Know owledge ge to track & trace the COVID-19 9 period od Shar aring ng #NON-CONTACT Provide de & Suppor pport Medical al staff 3

Highlight of Operating Performance Q1/2020 Q1/2019 Total Revenue THB 4,761 mil. THB 3,088 mil. increase 54 % YOY increase 19 % YOY Net Profit THB 1,452 mil. THB 1,211 mil. increase 20 % YOY increase 38 % YOY 4

“A leader in alternative energy business, by using the modern technology and environmentally friendly” Energy Electric Charging Palm Oil Renewable Based Power Storage Vehicle Network (1) COD (1) MPV car : Mine (1) Station (1) B100 & Glycerin (1) Amita Taiwan • Solar 278 MW (2) Equipment (2) Bio-PCM & 400 MWh (2) Ferry • Wind 386 MW (3) Bus & Truck (3) Online App Green Diesel (2) Amita Thailand (3) Other Related (2) New Projects (4) Other Related 1 GWh (by 2020) 5

Our Performance Energy Absolute PCL.

Total Revenue of Q1/2020 Revenue for Q1/2020 period increased from Wind Power and Biodiesel unit Total Revenue increased 54% YoY Total Operating Revenue increased 53% YoY • Amount of revenue contributed from power Mil.bt. business is increasing YoY after completion 14,955 of 260 MW wind power, Hanuman Project. 16,000 Accounting gain • Stronger demand of B100 as required to use - 235 Other revenue B10 caused the increase in B100 selling price 14,000 12,490 Other Businesses 122% YoY. Power 12,000 360 BiodieselGlycerin Others Others 2% Biodiesel 10,000 2% 29% Biodiesel 10,974 39% 8,000 7,681 Q1/2020 Q1/2019 6,000 2,773 3,088 4,109 4,761 106 Power 55 4,000 Power 69% 2,766 59% 80 130 3,047 2,000 2,120 3,678 3,511 1,839 1,860 982 787 885 - Q4/2018 Q1/2019 Q4/2019 Q1/2020 2018 2019 7

Gross Profit of 1Q2020 Mil.b .bt. 10 10,000 Power BU. Gross Profit Margin Q1/19 Q1/20 8,135 35 9,000 9 Biodiesel BU. Biodiesel Business 2% 5% 51 Others BU. 8,000 8 • Higher demand of CPO from the government measurement announcing B10 to be used as regular diesel while there was shrunk from drought in 2019. 7, 7,000 5,884 84 • B100 specification change to Mono Glyceride content at 0.4% for use as B10 6,000 6 caused price to increase. 212 Power Business 5 5,000 Solar 8 2% 8 2% 8,442 42 4,000 4, Wind 64% 66% 2,377 2,093 3 3,000 5,888 • 93 Increasing of power production was due to higher solar radiation. 67 91 1,604 04 • Revenue was fully recognized from Hanuman wind power project 2 2,000 • Increasing of power production from Hadkunghan wind power plant due to 13 2,436 436 2,075 75 1,000 1, strong wind compare to the last year. 1,629 Total GPM 52% 44% - - (38) (126) (73) (216) (358) (1,000) (1, Q1/19 Q4/19 Q1/20 2018 2019 Note: Total Revenue and Net Profit are excluded Accounting Gain, Other Income, Gain/Loss from exchange rate. 8

Total Expense & Net Profit of 1Q2020 YoY 160 Solar (81) (Mil.Bt) (14) (865) 11 Gross (1,386) Profit 8,135 Increase 6,082 5,884 5,148 Gross Profit 2018 Gross Profit 2019 Selling Expense Admin Expense Share of Loss in FX Gain (Loss) Financial Cost Tax Net Profit 2019 Net Profit 2018 investment YoY (Mil.Bt) (14) (20) (433) (269) 24 36 1 2,063 1,604 1,452 1,211 Gross Profit Gross Profit Selling Expense Admin Expense Gain on Share of loss FX Gain (Loss) Financial Cost Tax Net Profit Net Profit Q1/2019 Q1/2020 remeasurement from Q1/2020 Q1/2019 of financial investments instrument • Administrative expenses: for 1Q2020, were Baht 269 mil., increased by Baht 72 mil. From the personnel expense with new hiring of employee and executive were increased by Baht 41 mil. and also Office expenses were Baht 24 mil. following the new business. • Financial Cost: increased by Baht 170 million. This is mainly due to long term loan from financial institutions for payment of some part of supplier credits for Hanuman wind power plants project. • FX Gain: Due to buying Forward for payment of supplier credits for Battery plant project 9

Total Liability, Equity, D/E Ratio and Net D/E Ratio THB Mil. 80,000 3.50 2.88 3.00 2.64 26,422 60,000 2.28 2.25 24,866 2.50 2.14 2.02 2.03 19,518 1.82 1.82 1.80 2.00 1.57 40,000 1.41 11,389 1.50 14,744 1.21 1.16 8,510 47,619 1.00 45,353 20,000 39,690 5,897 30,118 29,786 24,547 0.50 13,429 - 0.00 2014 2015 2016 2017 2018 2019 Q1/2020 Liabilities Equity D/E Ratio Net D/E 10

Financial Cost and Payment Profile Total Interest Bearing Debt A Current portion of Debentures & ST-Debt Mil.Bt. 13% Bond LT-Loan 42,664 664 9,000 6,272 6,715 LT-Debt Mil.Bt .Bt. 54% Debentures 6,000 5,074 4,855 4,467 33% 2,272 4,000 3,506 5,215 2,074 1,467 2,660 3,355 3,000 1,386 4,000 4,000 3,506 3,000 3,000 2,660 - 1,500 1,500 1,386 - Interest Rate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Short Term Debt: 1.50 – 4.53% P/N: 1.41 – 3.50% On 16 th October 2019, EA issued THB 3 billion 7-year bond to ADB Long Term Debt: 3 – 3.8% with 2.744% interest and was certified by CBI to be green bond. Bond: 2.09 – 3.15% 11

Our Target in Y2020 GD & PCM Capital Investment in 2020 E-Ferry & Charging 1% 4% EV 1% B100 Biodiesel Power Charging 29% 1% 2% 3% Revenue 2020 GD&PCM Renewable 7% Power EV Car 65% 9% LPH 40% THB Others, 235 , 1% E Ferry 12,388 mil. Biodiesel, 11% 3,678 , 25% Revenue Key milestone : 2019 1 GWh Battery Factory GD & PCM, E ferry start R&D 26% commercial operation 1% Renewable Q3/2020, EV start Q4/2020 Power, 10,974 , 74% 12

Biodiesel Production Mil.liters Baht/liter Sales Volume 36.15 35.07 40.00 Avg Price 28.60 30.99 300 25.00 30.00 24.18 20.17 17.69 200 16.27 20.00 100 193 188 10.00 175 174 152 158 134 50.2 49.8 0 0.00 2013 2014 2015 2016 2017 2018 2019 Q1/19 Q1/20 Location Kabinburi Industrial Estate, Prachinburi under BOI promotion & privileges • Biodiesel 800,000 Liters per day Plant • Pilot production of green diesel/PCM 1 Ton per day Capacity • Refined Glycerin 80 Tons per day (by product) • B100 vol olume in n Q1/2 /20 = 49.8 mil.liters decreased 0.8% as compared to last year but the average selling price increased 122.2% from the announcement B10 to be used instead of B7 • Glycerin vol olume in n Q1/2 /20 = 3.77 mil.kg. decreased 0.03% as compared to last year and the average selling price decreased 26.49% due to the high competition in domestic and export market. 13

Palm oil Market in Thailand B100 00 Food a and ot others ers Domestic Domestic C Consump mptio ion Stock Sto ck Unit : Ton 100% 600,000 90% 500,000 80% 70% 400,000 60% 50% 300,000 40% 200,000 30% 20% 100,000 10% 0% - Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec19 Jan 20 Feb 20 Mar 20 Source: Department of Internal Trade, Thailand 14

Advance Technology in Biodiesel Business Energy Absolute PCL.

Biodiesel Business with advance technology of GD & PCM BioPCM works as a thermal storage battery PCM good for energy saving Export Market Green Diesel & PCM Production (38 : 62) Advance product of biodiesel CPO Green Purification Diesel Enhancing diesel engine capacity Domestic Market Sell to major oil refinery companies B100 B100 & Glycerin Production Sell to pharmaceuticals , Glycerin Cosmetics, Personal products 16

New Plant for Green Diesel & PCM Production 17

Renewable Power Production EA A So Solar Lam Lampang (90 MW) (90 664 MW EA A Sol Solar Phi hitsa sanulok (9 (90 MW) EA A Sol Solar Nak akornsa sawan (90 (90 MW) EA A Win ind Han anuman EA A Sol Solar Lop Lopburi (26 (260 0 MW) (8 MW) (Chaiyaphum) COD • HNM 1 & 8 = 90 MW 25 Jun 19 EA A Win ind Had adkanghun (126 (12 6 MW) • HNM 5 = 48 MW 22 Mar 19 (Songkla & & Nakornsri tammarat) • HNM 9 = 42 MW 30 Mar 19 • HNM 10 = 80 MW 13 Apr 19 Adder 3.50 baht/kwh Technology from Siemens Gamesa, Spain

Renewable Energy Production Total Capacity Output Production Mil.kWh Solar MWh 1,389 42% Solar 1400 Wind 800 664 278 MWh 664 664 HGH 1200 58% 469 HNM 894 600 1000 386 MWh 404 404 800 386 386 293 292 400 278 600 126 126 417 381 188 353 336 400 253 200 98 98 185 627 152 602 115 25 107 278 278 278 278 8 200 58 75 92 67 83 171 153 162 155 140 0 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 FY18 FY19 + 8MW + 90MW + 90MW + 90MW + 126MW + 260MW Nakornsawan Lopburi Lampang Phitsanulok Had Hanuman (Chaiyaphum) Kanghan (Songkla & Nakornsri tammarat) 19