FY17 & 4Q17 results Opportunity Day 28 th February 2018 2 - PowerPoint PPT Presentation

FY17 & 4Q17 results Opportunity Day 28 th February 2018

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DISCLAIMER The information contained in this presentation is intended solely for your reference. This presentation contains “forward - looking” statements that relate to future events, which are, by their nature, subject to sig nificant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regarding Banpu’s future financial position and results of operations, strategy, plans, objectives, goals and targets, future developme nts in the markets where Banpu participates or is seeking to participate and any statements preceded by, followed by or that include the words “believe”, “e xpe ct”, “aim”, “intend”, “will”, “may”, “project”, “estimate”, “anticipate”, “predict”, “seek”, “should” or similar words or expressions, are forward -looking statements. The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which Banpu will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. Banpu does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. Banpu makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward- looking statements and indications of past performance are not indications of future performance. In no event shall Banpu be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. Banpu makes no representation whatsoever about the opinion or statements of any analyst or other third party. Banpu does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement. Banpu’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securit ies laws of any state of the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of such act or such laws. This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell Banpu’s securities in any jurisdiction. 3

The Banpu difference 1 2 Highlights 2017 2.1 Summary 2.2 Coal business 2.3 Power business 2.4 Gas & Infinergy business 3 Coal business 3.1 Coal market 3.2 Australia operations 3.3 Indonesia operations 3.4 China, Mongolia operations 4 Power business 5 Gas business 6 Financial summary 7 2018 and beyond 4

The Banpu difference Banpu is unique amongst major SET-listed energy companies in offering investors a combination of: 1 2 3 GLOBAL BALANCED VALUE-CREATING REACH SUSTAINABILITY INNOVATION  Positioned to take advantage of  Reliable, affordable and  Demonstrated trackrecord in the best growth projects and eco-friendly energy supply learning new skills and deals across Asia and beyond technologies fast  Combination of core cashflow  Three decades of value-creating stability, upside potential and  Focus on building on international experience LT growth innovation and new technologies to create value  Over 80% Ebitda from  Synergistic hybrid strategy international operations bridging conventional and  Banpu people: aptitude, unconventional adaptability and versatility 5

Global reach: world energy growth analysis WORLD PRIMARY ENERGY DEMAND BY REGION* Growth 2016-2040 2040 breakdown Unit: Mtoe 3,824 17,584 Thailand Thailand Other SEA 3% 1% 5% Other ROW SEA 12% ROW 8% Americas 24% China 9% China 22% 22% Other Asia-Pac Americas & ME India 13,760 22% Other 18% 11% Asia-Pac India 28% & ME 15% 2016 Growth 2040 Note: ME = Middle East, ROW = Rest of the world 6 Note: * based on the New Policies scenario which incorporates broad commitments and plans announced by countries to limit global temperature increase to 4°C Source: World Energy Outlook 2017 , IEA, Thailand Power Development Plan 2015-2036 (PDP2015)

Global reach: Banpu vs other SET energy % 2016 EBITDA FROM INTERNATIONAL OPERATIONS OF MAJOR SET -LISTED ENERGY COMPANIES* 0 – 20% 21 – 40% 41 – 60% 61 – 80% > 80% BANPU Over 80% of Banpu consolidated Ebitda ENERGY COMPANIES comes from operations outside Thailand** Thailand USA 4% 3% Laos POWER-ONLY COMPANIES 11% China Indonesia 10% 48% Australia 24% 7 Source: AWR Lloyd Note: *Market cap above THB 10 bn, ** In 2016 89% and in 2017, 96%

Global reach: 3 decades of international experience 1990s 2000s 2010s 7 MONGOLIA Hunnu 2011 5 CHINA 8 JAPAN AACI acquisition 2003, 2008 Solar investment 2015 Hebi ZT JV 2005 CHP power business acquisition 2006 USA 10 Gas investment 2016 3 VIETNAM Industrial minerals 1995 6 LAOS Hongsa agreement 2006 1 THAILAND First coal mine 1985 4 INDONESIA 9 SINGAPORE Jorong concession Trading office 2016 development 1996 INDONESIA Indocoal 2001 2 AUSTRALIA 2 AUSTRALIA (II) IPO of ITM 2007 Stake in Oakbridge 1991 Centennial 2010  Coal interests in Indonesia and  Big step in Indonesia from  Big step into Australia with Australia developed from early 2001 with acquisition and Centennial acquisition in 2010 1990s development of Indocoal assets First step into US with gas  which became ITM  Industrial minerals business investments from 2016 established in Vietnam from  First step in China coal  First steps also into Japan 1995 business from 2003 Solar (2015), Singapore and  Laos project from 2006 Mongolia Exited Australia, Vietnam  8

Global reach: West - East fusion culture ‘West’ ‘East’ Others Thailand 3% 6% Australia 27% 48% Indonesia 16% China 5,785 EMPLOYEES BY NATIONALITY (%)  Western know-how and  Unique diversity:  Asian roots technology strength and unity  Focus on long term:  Western standards of  Banpu people are patience, hard work best practice governance ‘Global’ and ‘Local’  Emphasis: integrity, and IR  With extensive trust, duty, loyalty  Pro-active culture of international network of accountability and friendships, new market initiative entry is easier for Banpu 9

Balanced sustainability: world energy growth WORLD PRIMARY ENERGY DEMAND BY FUEL* 2016 2040 13.8 Btoe 17.6 Btoe Renewables Renewables Coal 1.9 Btoe 3.5 Btoe 3.9 Btoe 19% Coal 22% 14% 3.8 Btoe Nuclear 27% 0.7 Btoe 5% Nuclear 6% 1.0 Btoe 32% 24% 22% Oil Gas Oil Gas 27% 4.4 Btoe 4.4 Btoe 4.8 Btoe 3.0 Btoe  Coal demand will grow in absolute terms and remain a core baseload energy  Gas and renewables represent the two largest growth segments Banpu well positioned for stability and growth  10 Note: * based on the New Policies scenario which incorporates broad commitments and plans announced by countries to limit global temperature increase to 4°C Source: World Energy Outlook 2017 , IEA, Thailand Power Development Plan 2015-2036 (PDP2015)

Balanced sustainability: reliable, affordable, eco-friendly strategy Experienced Coal Development of M&L team with lower-emissions extensive marketing gas portfolio : network throughout 200MMcfd Diverse equity Asia-Pacific Rapidly growing coal specs , renewable energy blending capabilities business: +385 MW and 3rd party committed solar capacity traded coal to meet in Japan and China all customer needs Developing new Smart energy SUSTAINABLE synergistic business: 97 MW supply chain committed solar businesses in fuels, rooftop capacity in gas and bio-energy SEA and India Coal mining and Focus on cost HELE coal-fired rationalization Coal and CFP power still have and control at all remain core engine cost advantage mines and power of energy supply and vs RE and LNG operations cashflow at Banpu 11