Opportunity Day Q3/2019 15 November 2019 1 Company Overview 2 - PowerPoint PPT Presentation

Opportunity Day Q3/2019 15 November 2019

1 Company Overview 2 Pre-2019 Key Highlights 3 Q3/2019 Performance Summary 4 Business Update

Company Overview

Corporate Strategy – Total Real Estate Solutions Property Development Real Estate Property Management International Brokerage Recurring Income Investment in Completed Units

Corporate Strategy : Three -Year Goal 2019 20 19 Gui uidance dance 3 - Ye Year r Target rget Annual Revenue Double 2x – 3x Growth (MB) Digit Growth YoY from 2019 Core Net Profit Margin (%) 10% – 12% 10% - 15% Return on Equity (%) 30% 30% - 35% Interest Bearing < 2.0x 1.5x – 1.8x Debt to Equity

Key Strategy Initiatives for 2020 ▪ Focus 1 INITIAT ITIATIVE IVE cus on low-rise ise condo dominiums iniums (avg. # of units 200-300 / project) ▪ More expansion sion in into low-ri rise se proj ojec ects ts (TH, SH, SDH projects) 2 ▪ More expansion into recur urring ring-inc incom ome e busine siness ss INI NITIATI TIATIVE 3 ▪ Proactive in strategic collaboration with strategic tegic partn tner ers INI NITIATI TIATIVE 10

1 Focus on Low-Rise Condominiums Speed up sates/absorption rate Enhance return on investment 11

1 More Expansion into Low-Rise Projects Townhome Projects 12

1 More Expansion into Low-Rise Projects More product diversification to weather all circumstances Detached Houses Single Houses 13

2 More Expansion into Recurring-Income Business Medium to small with low payback period Retail, office, hotel /mixed-use projects 14

Pre-2019 Key Highlights

Pre - 2019 Key Highlights 2 4 1 3 Impression Ekkamai The Excel Ladprao - Sutthisan The Vision Ladprao - Nawamin The New Forum Plaza EIA App pprov roved d Official icial Launc unche hed Phase se 1 1 Official icial Launc nche hed Recur urrin ring g Incom come Official icial Launc unche hed 100 100% % So Sold ld 87 87% SO SOLD LD 2,000 2, 000 MB So Sold ld Shopping pping Mall l Plaza

Project Launch : Impression Ekkamai

Project Launch: The Vision Ladprao – Nawamin Phase II Phas ase e I Booking king Eve vent 39

Project Launched: The Excel Ladprao - Sutthisan Project Value 1,100 MB EIA Approv oved ed

Pre - Sale Feedback: The Excel Ladprao - Sutthisan 4,000 Registers Br Break eak th the R e Rec ecord! ord! Pre - Sale 850 MB within 1 Day

New Recurring-Income Project : The New Forum Plaza The Ne New w Forum um Pl Plaza Ownership 29 - year leasehold rights GFA/NLA 34,952 sq.m / 11,593 sq.m Est. Total Revenue 5,800 MB over 29 years Expected Completion Q3/2019 Secured Anchor Tenants

New Recurring-Income Project : The New Forum Plaza MOU Signing Ceremony with JWS Construction

Pipeline Projects Th The e Excel cel Hideawa eaway y Su Sukhum umvit it 50 50 Total Units: 772 Project Value: 1,863 MB Sales Status: 61% Expected Transfer: Q4/2019 Remark: *As of September 2019

Pipeline Projects The Excel cel Hideawa eaway y Su Sukhumv umvit it 71 71 Total Units: 672 Project Value: 1,567 MB Sales Status: 88% Expected Transfer: Q4/2019 Remark: *As of September 2019

Pipeline Projects Imp mpression ression Ph Phuket uket Total Units: 42 Project Value: 2,074 MB Sales Status: 71% Expected Transfer: Q4/2019 Remark: *As of September 2019

Pipeline Projects Th The e Visi ision on Lad adprao prao - Na Nawamin wamin Total Units: 308 Project Value: 1,391 MB Sales Status: Phase 1 – 100% Phase 2 – 50% Phase 3 – To be launched Construction Progress: 50% Expected Transfer: Q2/2019 onwards Remark: *As of September 2019

Pipeline Projects The e Exce cel l Lasal salle le 17 The e Exce cel l Hi Hidea eaway way Ratc tchada da - Hu Huai Khwang wang Total Units: 1,335 Total Units: 592 Project Value: 1,515 MB Project Value: 1,561 MB Sales Status: 63% Sales Status: 85% Construction Progress: EIA Approved Construction Progress: 4% Expected Transfer: Q4/2020 Expected Transfer: Q2/2020 The e Exce cel l Ratc tchada da 18 Rise e Pah ahon on - Inth tham amara ra Total Units: 270 Total Units: 383 Project Value: 870 MB Project Value: 1,745 MB Sales Status: 66% Sales Status: 74% Construction Progress: EIA Approved Construction Progress: EIA Approved Expected Transfer: Q3/2020 Expected Transfer: Q1/2022 The e Exce cel l Ladpra dprao - Sutth thisa san Impressi pression on Ekkam amai Total Units: 420 Total Units: 378 Project Value: 1,136 MB Project Value: 4,967 MB Sales Status: 87% Sales Status: 40% Construction Progress: EIA Approved Construction Progress: EIA Process Expected Transfer: Q4/2020 Expected Transfer: Q1/2023 Remark: *As of September 2019

Backlog Breakdown Total tal Ba Back cklog log 11,400 MB Proje jects cts 3% Townhome: 300 MB 28% High Rise: 3,400 MB Total 3,137 Units Low Rise: 7,700 MB 69% Total Backlog* Total Back g* Remark: *Data as of September 2019

Backlog Recognition Schedule Secured Backlog for 2019 - 2023 with almost Half of Total Backlog Ready to be Realized in 2H/2019 Total tal Ba Back cklog log 30% 30% 40% 40% 2019 11,400 MB 2020 30% 30% 2021 - 2023 Remark: *Data as of September 2019

Pre - Sale Status Target VS Actual Pre - Sale (Unit: Million Baht) 7,00 000 Over 90% 6,50 500 Pre - Sale Target Achieved Annual Target Annual Target Actual as of 9M/2019 Actual as of 9M/2019 Remark: *Data as of September 2019

Inventory Status With less burden from low amount of completed units, the completed inventory is ready to be a quick-win for revenue realization. Comp mpleted leted In Inventory ventory ( สินค้าสร้างเสร็จคงเหลือขาย ) 20 MB (12 20 12 Un Units) ts) Rise Rama 9: 1 Units, 3 MB The Excel Groove ,The Excel Khukot: 11 Units, 17 MB 55 Remark: *Data as of September 2019

Q3/2019 Performance Summary

Financial Performance Summary Yearly y – 9M 9M/20 2019 19 Qu Quarter terly ly – Q3 Q3/20 2019 19 (3 month nths s ended d 30 Sept ptember ember 2019) 9) (9 month nths s ended d 30 Sept ptember ember 2019) 9) (Unit: Million Baht) (Unit: Million Baht) 2,339 Q3/2018 Q3/2019 9M/2018 9M/2019 1,602 647 466 342 213 129 48 To Total tal Re Revenue nue Net Prof Net Profit it Total To tal Re Revenue nue Net Net Prof Profit it Remark: *Data as of 30 September 2019

Financial Highlights 9M/2019 Net Profits and Margins Gross Profits and Margins 14.7% 14.6% 47.4% 41.4% 41.6% 11.3% 36.2% 952 945 2.6% 343 342 330 11 149 81 Y2016 Y2017 Y2018 9M/2019 Y2016 Y2017 Y2018 9M/2019 Gross Profit (MB) Net Profit (MB) Gross Profit Margins (%) Net Profit Margins (%) rgin 1 Gross ss Profit t Margi 2016 2016 2017 2017 2018 2018 9M/2019 Sale of residential units 36% 45% 36% 36% 1 : Not Including revenue from services and revenue from trading in completed units

Key Financial Ratio Return on Equity (ROE) Unit: % 48.6% 35.1% 18.0% 2.7% Y2016 Y2017 Y2018 Q3/2019* 66 Remark: *Annualized

Debt Profile Debt Breakdown Bonds, 764 Fixed, 764 THB mm THB mm 3,142 3,142 THB mm THB mm Term Loans + Floating, 2,378 Financial Lease, THB mm 2,378 THB mm Credit Facilities and Utilization Weighted Average Cost of Debt 6.17% 6.09% Drawn 6.07% 6.06% 6,680 Facilities, Undrawn THB mm 3,330 THB Facilities, 3,350 mm THB mm Q4/18 Q1/19 Q2/19 Q3/19 67 Remark: *Including debt portion at joint venture companies

Debt Profile (Cont ’ d) Bond Maturity Profile Unit: THB mm 587 497 182 Q4/19 2020 2021* Finance Cost Unit: THB mm Unit: THB mm 36 60 20 7 1 2016 2017 2018 9M/18 9M/19 68 Remark: *The Company has issued debenture woth approx. THB 497 mm iin Q4/2019

Key Financial Ratio Decreasing trend of leverage ratio (IBD/E and Net IBD/E), lower than Financial Institutions’ and Bond’s covenants Leverage Ratio : IBD/E Leverage Ratio : (IBD – Cash)/E Unit: (x) Unit: (x) Financial Institution Covenants: Bond Covenants: IBD/E <= 2.5x (IBD – Cash)/E <= 5.0x 4.66x 4.28x 2.32x 1.60x 1.55x 1.72x 1.48x 1.29x Y2016 Y2017 Y2018 Q3/2019 Y2016 Y2017 Y2018 Q3/2019 69

Business Update Q4/2019

Launch Plan of Existing Projects in Q4/2019 Launc nch: h: The Vision on Ladpr prao ao - Na Nawa wamin min Phase se II Relaun aunch ch : Impr press ession ion Phuket et T…

Q& Q&As As

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