Energy Absolute Public Company Limited December 2016 1 Our - PowerPoint PPT Presentation

Energy Absolute Public Company Limited December 2016

1 Our Business 2 Our Project Pipeline 3 Our Power Plant 4 Financial Results 2

E@ at a Glance In 2006 to produce palm oil Established Renewable Energy Core Business MAI since 30 Jan 2013 (ticker “EA”) Secondary Market Approximately THB 106 billion (3,730 million shares), Market Capitalization next to 23 rd largest company in SET50. As of 22 Nov 2016 Liquidity Free Float 34.56% THB ‘000 shares 35.00 4,000,000 3,500,000 30.00 3,000,000 25.00 2,500,000 20.00 2,000,000 Total Volume 15.00 1,500,000 Closed Price 10.00 1,000,000 5.00 500,000 0.00 0 3

Procedure for Moving to SET SET announce SET announce new SET 50 list the effective date Start trading Mid of Jun 17 Jul 17 11 Nov 16 Nov 16 in SET Start new BOD approved Submit SET50 application to SET Market capitalization of the first 30 company of SET50 as of 2 2 Nov 2016 1 2 3 4 5 6 7 8 9 10 PTT SCC CPALL AOT SCB ADVANC KBANK BDMS PTTEP BBL 982,567 568,800 541,232 522,857 487,226 422,180 406,854 354,743 330,501 297,779 11 12 13 14 15 16 17 18 19 20 PTTGC CPN TRUE KTB CPF INTUCH IVL MINT TOP BH 278,421 245,718 241,919 237,593 220,674 160,321 156,464 154,363 146,372 137,350 21 22 23 24 25 26 27 28 29 30 HMPRO GLOW BEM EA LH TU EGCO BTS IRPC DELTA BANPU 132,827 113,372 113,109 106,305 103,132 102,117 101,345 99,060 96,859 94,489 91,007 4

Our Business & Group Structure 35.20% held by EA Energy Solution Management Service 99% held by EA Engineering, Design, Construction management and Operation and Maintenance of Power Plants, 5

Shareholder Structure Education • MBA from University of Pittsburgh, USA • Bachelor of Engineering from Chulalongkorn University, Thailand Work Experience • Analyst and Researcher in USA. • Managing Director of a Securities Brokerage company in Thailand Mr.Somphote Ahunai • Managing Director of a Renewable Energy company in Thailand Chief Executive Officer Education • Master of Science from Chulalongkorn University, Thailand • Bachelor of Business Administration (Finance and Banking) from Thammasat University, Thailand Number of Total Shareholders = 7,651 Work Experience • Investment Banker and Financial Free Float = 34.56% Mr.Amorn Sapthaweekul Advisor, Deputy to CEO and • Director in a Renewable Energy company Chief Finance Officer 6

Opportunity Base on AEDP 2015-2036 Alternative Energy Development Plan : AEDP 2015-2036 Target of Alternative Energy = 30 % in 2036 Industrial Solar Wind Mini Hydro Hydro Energy Corp Bioenergy Biofuel Waste 6,000 MW 3,002 MW 376 MW 2,906.4 MW 680 MW 50 MW - Ethanol 11.3 ML/d Biomass Biogass Waste - Biodiesel 14 ML/d 5,570 MW 600 MW 500 MW - CBG 4,800 Ton/d - Pyrolysis Oil 0.53 ML/d source : The Energy Regulatory Commission (ERC) 7

Biodiesel Production Location Kabinburi Industrial Estate, Prachinburi under BOI promotion & privileges Plant • Biodiesel 800,000 LPD Capacity • Refined Glycerin 80 TPD Certificate Certificate Number Expire date TNI-SC-F-1201 6 Jun 2017 ISO 9001 : 2008 53866/A/0001/UK/En Expiry date 12 Sep. 2018 8

Biodiesel Sales Strong Customer Base Sales Volume %Gross margin (In Million liters) 200 10.00% 9.26% 188 175 180 9.00% 160 8.00% 8.15% 134 140 7.00% 126 120 6.00% 5.26% 103 5.05% 93 100 5.00% 3.96% 4.35% 80 4.00% 60 3.00% 40 2.00% 20 1.00% 0 0.00% 2011 2012 2013 2014 2015 9m2016 Sales Volume %GPM 9

CPO Price and Change of Blending Portion (Jul 2014 – Oct 2016) 25 Jul 16- 24 Aug 16 Baht/liter 5% 25 Aug 16-24 Jul 14 – Jan 15 20 Jan 15- 16 Apr 15-24 Jul 16 Nov 16 7% 15 Apr 15 7% 3.5% 3% 40.00 35.00 30.00 25.00 20.00 15.00 10.00 5.00 0.00 MOC Ministry of Energy announced adjustment of blending portion since palm oil supplies appeared to be lower than earlier estimates, and if the mandates continue, soaring palm oil prices would negatively affect household cooking palm oil consumers.

1 Our Business 664 2 Our Project Pipeline MW 3 Our Power Plant 4 Financial Results 11

Development of Renewable Power Plants as of July 2016 MW 6,000 5,570 6,000 5,000 3,638 4,000 3,039 3,002 3,000 1,616 2,000 1,280 550 1,000 417 370 376 46 - Waste Biomass Biogas hydro Wind Solar COD+Signed PPA+to be Signed AEDP 2036 Target of AEDP COD Signed PPA + Total Committed in 2036 6,380 MW to be Signed Capacity (6,992 Projects) 2,843 MW 9,223 MW 16,778 MW source : The Energy Regulatory Commission (ERC) 12

Electricity Price Structure Ft Baht/ Adder Base 10 years from Tariff Fuel kWh COD Adjustment Charge 8 Bt. 6.5 Bt. 3.5 Bt. Peak Time: Weekdays 09.00 – 22.00 Nakornsawan 4.22 Bt./kWh -0.4283 Bt./kWh 90 mw Southern Wind Projects Until Dec 2023 As of Sep 2016 Off-Peak Time: 126 mw Lopburi Weekdays Lampang 8 mw 22.00 – 09.00 90 mw + Weekend + Holidays Until Oct 2.36 Bt./kWh Until Feb 2025 2022 North-Eastern Wind Projects Phitsanulok 90 mw 260 mw Until Apr 2026 13

Project Pipeline Ramp Up Till 2018 F2018 664 MW Wind Solar 386 404 Solar 126 42% Wind 188 58% 98 98 278 278 188 8 98 98 2012 2013 2014 2015 2016 2017 2018 + 8 MW + 90 MW + 90 MW + 90 MW Solar In Operation In Operation In Operation In Operation Had + 126 MW Kanghan To be COD (Southern ) Wind Hanuman (North- + 260 MW Eastern) 14

Project Management Capability E@ E@ has in-house engineering knowhow and team for plant design optimization & construction management and operation & maintenance service. Engineering Service Company Project Companies EA Solar (“EA Solar”) 2012: • Thin film & 8 MW Lopburi Energy Solution Multi Crystalline Management Service Fixed system • EA Solar Nakornsawan (“ESN”) 2013: • Multi Crystalline Fixed system 90 MW Nakornsawan • 1 Engineering, Design 2014: • & Construction Multi Crystalline EA Solar Lampang (“ESL”) 90 MW Lampang Tracking system • management 2 Operation & 2016: • Multi Crystalline Maintenance service Tracking system EA Solar Phitsanulok (“ESP”) • 90 MW Phitsanulok 2016: 3 Sub-Wind Farms • 126 MW Songkla, EA Wind Hadkanghan (“HKH”) Verify and advise Nakhosrithammarat 2018: 5 Sub-Wind Farms • 260 MW Chaiyaphum Independent Engineer EA Wind Hanuman (“HNM”) 15

Solar Power 278 MW 3 4 Lampang (THB 8.07 bil) Phitsanulok (THB 9.5 bil) Contracted Cap: 90 MW Contracted Cap: 90 MW Installed Cap : 128.396 MW Installed Cap : 133.92 MW Technology: Tracking system Technology: Tracking system COD : 17 Feb 2015 COD : 1 Apr 2016 Land area : 2,354 Rais (930 acres) Land area : 1,858 Rais (732 acres) Adder : 6.50 baht/kwh Adder : 6.50 baht/kwh 2 1 Nakornsawan (THB 6.7 bil) Lopburi (THB 812 mil) Contracted Cap: 90 MW Contracted Cap: 8 MW Installed Cap : 126.126 MW Installed Cap : 9.33 MW Technology: Fixed system Technology: Fixed System COD : 23 Dec 2013 COD : 17 Oct 2012 Land area: 1,858 Rais (735 acres) Land area: 315 Rais (124.5 acres) Adder : 6.50 baht/kwh Adder : 8 baht/kwh 16 Note : 1 acre = 2.529 rais

Wind Power 386 MW 2 North-Eastern ( Chaiyaphum ) THB 20 bil. Contracted Cap: 260 MW SCOD : Q2/2018 Adder : 3.50 baht/kwh Status: PPA signed / Preparation for construction and 1 Fund Sourcing Hadkanghan (East Coast Southern) THB 10.4 bil. Contracted Cap: 126 MW SCOD : Q3/2016 Adder : 3.50 baht/kwh Status : To be COD 17

Had Kanghan Wind Farm 126 MW Sub-Project Capacity (MW) SCOD HKH 1 36 Q4/2016 HKH 2 45 Q4/2016 HKH 3 45 Q4/2016 Located in Songkhla and Nakornsritammarat  province Adder 3.50 Baht/kWh for 10 years  THB 10.4 billion Project Cost  Wind turbine : Vestas (Denmark) V110-2.0 at 1.8 mw each  Complete Installation and testing of 70 WTG  Capacity factor : 20-25% P90 P50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 18

HKH site location Plant location & general plot plan Wind Turbine Generator (ETG) 70 sets will be located 57 km. along seaside by the following areas: • HKH1 Project : Location at Ranote district, Songkhla province. • HKH2 Project : Location at Hua Sai district, Nakhon Si Thammarat province. • HKH3 Project: Location at Pak Phanang district, Nakhon Si Thammarat province. 19

Substation : Built and transferred to EGAT 20

Hanuman Wind Farm 260 MW Sub-Project Capacity (MW) SCOD Hanuman 1 45 APR 2018 Hanuman 5 48 MAY 2018 Hanuman 8 45 APR 2018 Hanuman 9 42 MAY 2018 Hanuman 10 80 JUN 2018 Located in Chaiyaphum province  Current Status :  5 PPAs – signed  Pre construction  Fund sourcing  Adder 3.50 Baht/kWh for 10 years  THB 20 billion Project Cost  21