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 Market Capitalization (as of 10/8/20) Others, Somphote 26.15% Approximately THB 175.31 bil. (US$ 5.65 bil.) Ahunai (CEO), 43.61% Shareholder Credit Rating CG Rating Structure Excellent Corporate rating : A Foreign Juristic, 18.90% Domestic Fund, 11.35% A Total Board Members = 11 Independent Executive Other Directors Directors Non - Executive = 6 (55%) = 2 (18%) = 3 (27%) 2

Highlight of Operating Performance Total Revenue EBITDA Net Profit Q2/2020 THB 4,175 mil. THB 2,288 mil. THB 1,149 mil. increase 15 % YOY decrease 4.7 % YOY decrease 20 % YOY 6M/2020 THB 8,937 mil. THB 4,718 mil. THB 2,602 mil. increase 33 % YOY decrease 8.2 % YOY decrease 1.9 % YOY 3

“A leader in alternative energy business, by using the modern technology and environmentally friendly” Energy Electric Charging Palm Oil Renewable Vehicle Network Based Power Storage (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) 4

Our Performance Energy Absolute PCL.

Total Revenue of Q2 and 6m/2020 Total Revenue for Q2/2020 increased 15% YoY mainly from Biodiesel unit Mil.THB • Stronger demand of B100 as required to use B10 in regular diesel caused the increasing in selling price and volume 16,000 • Revenue from biodiesel for Q2 increased 68.86% and for 6 months increased 94.47% YoY Accounting gain 14,000 • Weaker of wind speed in Q2/2020 resulted in decrease of Other revenue revenue from wind power business 10.79% however Other Businesses 12,000 revenue for 6 months increased 31.65% from new capacity Power 10,000 BiodieselGlycerin 8,936 Others - 119 Others 1% Biodiesel 8,000 2% Biodiesel 26% 6,724 38% 116 5,380 6,000 3,636 4,109 4,761 4,175 6M/2020 6M/2019 106 4,805 13 4,000 55 36 Power 2,766 Power 2,614 72% 3,047 61% 2,685 2,000 3,361 1,860 1,774 1,501 982 889 - Q2/2019 Q4/2019 Q1/2020 Q2/2020 6M19 6M20 6

Gross Profit of Q2 and 6m/2020 Mil.b .bt. Gross Profit Margin Q2/19 Q2/20 10,000 10 Power BU. Biodiesel Business 2% 6% 9 9,000 Biodiesel BU. • Higher demand of B100 and CPO from the government measurement announcing Others BU. 8,000 8 B10 to be used as regular diesel while there was shrunk from drought in 2019 7,000 7, resulted to selling price of B100 and CPO, reflected in higher gross profit margin 6 6,000 Power Business Solar 8 4% 8 1% 5,000 5 57 3,978 8 Wind 63% 52% 3,557 180 4,000 4, 28 28 • Normally Q2 is low season for wind power. In Q2/2020 wind farm operation was 3,000 3 53 2,093 93 1,885 weaker than the previous year. 1,953 85 89 89 91 • Increasing of production capacity from Hanuman Wind Power at Chaiyaphum 2 2,000 15 3,936 3,664 4 Province since Q2/2019 resulted to increasing of gross profit to be THB 3,978 mil. 2,075 75 1, 1,000 2,035 1,861 (or +11.84%) for 6 months period - - Total GPM 54% 46% (97) (73) (65) (135) (138) (1,000) (1, Q2/19 Q1/19 Q2/20 20 6M19 6M20 Note: Total Revenue and Net Profit are excluded Accounting Gain, Other Income, Gain/Loss from exchange rate. 7

Total Expense & Net Profit of 2Q2020 YoY Solar 15 (Mil.THB) (43) Gross (638) (8) Profit (840) 3,978 3,557 Increase 2,601 2,653 (16) Gross Profit 6M19 Gross Profit 6M20 Selling Expense Admin Expense Share of Loss in FX Gain (Loss) Financial Cost Tax Net Profit 6M20 Net Profit 6M19 investment YoY (Mil.THB) 1,953 1,885 (408) 1,442 1,149 (369) (20) (24) (2) (7) Gross Profit Gross Profit Selling Expense Admin Expense Share of loss from FX Gain (Loss) Financial Cost Tax Net Profit Net Profit Q2/2019 Q2/2020 investments Q2/2020 Q2/2019 • Administrative expenses: for Q2/2020, were THB 369 mil., increased by Baht 84 mil. resulted from the increasing of personnel expense by THB 46 mil. (new hiring of employee and executive). the donation of medical equipment THB 23.89 mil. to support hospitals over the country during COVID-19 pandemic and also depreciation & amortization of some equipment in solar project increased THB 34.62 mil. • Financial Cost: for Q2/2020, were THB 408 mil. mainly due to long-term loan from financial institutions and issuance of green bonds in order to repay some part of supplier credits for Hanuman wind power project. 8

Financial Cost and Payment Profile Total Interest Bearing Debt Mil.THB Current portion of Bond LT-Loan Debenture s & ST- 9,000 Debt 6,272 6,715 13% 42 42,664 664 5,074 6,000 4,855 4,467 2,272 4,000 3,506 5,215 2,074 Mil.TH THB LT-Debt 1,467 2,660 3,355 3,000 54% Debentures 1,386 4,000 4,000 33% 3,506 3,000 3,000 2,660 - 1,500 1,500 1,386 - 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Interest Rate On 16 th October 2019, EA issued THB 3 billion 7-year bond to ADB with 2.744% interest Short Term Debt: 1.50 – 4.53% and was certified by CBI to be green bond. P/N: 1.41 – 3.50% On 10 th July 2020, EA issued bond worth THB 2.2 billion Long Term Debt: 3 – 3.8% - Tranche 1 : 2-year bond worth THB 500 million with 2.62% interest Bond: 2.09 – 3.15% - Tranche 2 : 3-year bond worth THB 1,000 million with 2.94% interest D/E 1.81 - Tranche 3 : 5-year bond worth THB 700 million with 3.30% interest Net D/E 1.41 9

Our Palm oil based business Energy Absolute PCL.

Biodiesel Production B100 Food ood and d others Mil.liters Baht/liter Dom omestic Con Consumpti mption on Stoc St ock Unit : Ton Sales Volume 100% 600,000 Avg Price 35.07 40.00 90% 30.99 500,000 28.96 80% 300 24.18 30.00 70% 400,000 20.17 60% 17.69 200 16.44 50% 300,000 20.00 40% 200,000 100 193 188 30% 174 10.00 158 152 20% 50.3 48.2 100,000 10% 0 0.00 2015 2016 2017 2018 2019 Q2/19 Q2/20 0% - Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Location Kabinburi Industrial Estate, Prachinburi under BOI promotion & privileges Production • Biodiesel 800,000 Liters per day Capacity • Refined Glycerin 80 Tons per day (by product) • B100 vol olume in n Q2/2 /20 = 48.2 mil.liters decreased 4% as compared to last year but the average selling price increased 76.2% from the government measurement to use B10 instead of B7 blending in regular diesel • Glycerin vol olume in n Q2/2 /20 = 4.8 mil.kg. increased 47% as compared to last year and the average selling price increased 9.5% due to the price shifted to upward trend during the second quarter following regional market situation. 11

Biodiesel Business with advanced technology of Bio Hydrogenated Diesel (or Green Diesel) & BioPCM BioPCM, innovation from palm oil base, Phase Change Material works as a thermal storage battery to control or BioPCM temperature and help ENERGY SAVING Palm Plant Advanced product of biodiesel enhancing Bio Hydrogenated Diesel diesel engine capacity likes cetane booster or Green Diesel Palm mill 2 Green Diesel & PCM Production (38 : 62) Sell to major oil refinery companies CPO B100 Purification 1 B100 & Glycerin Production Sell to pharmaceuticals , Glycerin Cosmetics, Personal products 12

Estimated PCM Market 2020 Estimated PCM Market in 2020 • Growing demand in Asia- Pacific mainly in Building and Construction • (in US$ million) Japan issued policy in Promotion of Zero Energy Building (ZEB) and Zero Energy Houses (ZEH) 4% • Bio-PCM is less flammable than paraffin. It is more effective to 5% applying them to construction materials due to the safety issues. 28% • Market price of Bio-PCM : US$ 3 to 4 per kg. 12% Some of the prominent manufacturers operating 1,570.87 in the market are 17% • BASF SE and DuPont de Nemours, Inc. use in construction materials • Croda International PLC 19% use in HVAC (Heating, ventilation, and air conditioning) systems 16% • Henkel AG & Co. KGaA use in building and construction, textiles • Commercial Refrigeration Honeywell International Inc. Building & Construction use in electronic materials HVAC Energy Storage Management • Entropy Solutions LLC. Shipping and Transportation Textiles use in food and beverage, textiles Others 13 Source: Inkwood Research, thenbs.com, Bio-Based Materials and Biotechnologies for Eco-Efficient Construction

New Plant for Green Diesel & PCM Production Started operation in Aug 2020 14

Our Renewable power business Energy Absolute PCL.

Renewable Power Production 664 MW EA A Sol Solar Lam Lampang (9 (90 MW) EA A Sol Solar Phi Phitsa sanulok (90 (90 MW) EA A Sol Solar Nak akornsa sawan (90 MW) (90 EA A Win ind Han anuman (260 MW) (2 (Chaiyaphum) EA A Sol Solar Lop Lopburi (8 MW) (8 Output Production 1000 Solar EA A Win ind Had adkanghun Wind (12 (126 6 MW) 800 674 (Songkla & & Nakornsri tammarat) 589 600 417 344 381 265 353 336 321 400 253 277 219 165 198 146 200 100 330 324 171 175 153 162 155 140 0 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 6M19 6M20