Strictly Private & Confidential TPBI Public Company Limited Opportunity Day Presentation May 2016
Agenda Section 1 About TPBI Group Section 2 Business Overview Section 3 Shareholding Structure Section 4 Financial Highlights Section 5 Future Plan Strictly Private & Confidential Page 1
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TPBI Group Overview TPBI’s VISION is “To be a leading packaging manufacturer who achieves sustainable growth together with all stakeholders” A Global Market of TPBI TPBI is Thailand’s No. 1 total solution provider of plastic bag , providing complete services Italy product design and formula development German UK manufacturing and procurement Korea France Japan USA raw material and product testing Products in groups Nigeria Vest-carrier/T-shirt bags/Bio Compostable Plastic bags Indonesia bags/Fruit & Vegetable bags Australia Garbage bags Loop-handle/ Die cut bags/ Fashion bags New Zealand EMAP film bags Highlighted customers: Lamination film Multilayer Blown Barrier film Film Overseas Stretch hood Shrink film Flexible packaging for frozen food, ready-to- Flexible Packaging eat, sandwiches bags, etc. Domestic Others Plastic/bio-plastic coated paper cups V bags Strictly Private & Confidential Page 5
Group Structure Kanaoka Co., Ltd. Mr. Carsten Paeslack Mr. Somchai Borrisuttanakul APS Group 1/ “Manufacturer and distributor of plastic bags and (“ Kanaoka ”) (“Mr. Carsten ”) (“Mr. Somchai ”) multilayer blown film” 33.00% 7.00% 30.00% 30.00% 60.00% 70.00% 3.20% 40.00% 30.00% Minima Technology Co., Ltd. (“Minima Tech”) “Manufacturer and distributor of “Taiwan base, manufacturer of “Manufacturer of plastic resin flexible packaging” “Distributor of 20.00% bio- plastic resin” from plastic waste” bio- plastic resin” P.P. Packaging Co., Ltd. “Manufacturer and (“P.P. Packaging”) distributer of paper cup” 66.67% 13.33% Board of Directors 7. Thanwa Laohasiriwong 5. Saksit Borrisuttanakul 1. Banchong Chittichang 3. Somsak Borrisuttanakul Director Chairman of the Board Chief Executive Officer Chief Operating Officer (High Value Added Products) 8. Prinya Saniwalwaroon Director 2. Wichai Borrisuttanakul 4. Kamol Borrisuttanakul 6. Sittichai Borrisuttanakul Chief Operating Officer Director Chief Financial Officer 9. Krit Phanratanamala (General Products) Director 1/ APS Group consists of APS Co., Ltd. and Asia Packaging Center Co., Ltd. Strictly Private & Confidential Page 6
Agenda Section 1 About TPBI Group Section 2 Business Overview Section 3 Shareholding Structure Section 4 Financial Highlights Section 5 Future Plan Strictly Private & Confidential Page 7
Strong Presence in Plastic Packaging Value Chain through Backward Integration “TPBI group is one of a few converters who integrates backward into its value chain; creating competitive advantages and enjoying higher margin whilst lowering the risk of reliance on external suppliers” Feedstock Resin Producers Compound Resin Film Producers Converters Producers Compound Bio-Based Feedstock Bio-Plastic Resin Bio-Plastic Resin General Packaging Post-Industrial (Shopping Bags, Post-Industrial Compound Plastic Scrap Recycle Resin Recycle Resin Garbage Bag, etc.) Post-Consumer Post-Consumer Plastic Scrap Recycle Resin Multilayer PE Resin (Virgin) Blown Film Flexible Petroleum-Based Feedstock Packaging (Food Goods) Other Plastic Other Types of Resin Film Strictly Private & Confidential Page 8
TPBI Group’s Products: Plastic Bags “ TPBI ’s plastic bags are categorized as an essential plastic packaging people use in everyday life including in retailers business (modern trade, supermarket, convenient store and shopping mall) and garbage handling” Items Details Sample of Customers Vest carrier bags/ Made by virgin, recycle and/or Bio Compostable Product mix T-Shirt bags/Bio plastic resin. Used in modern trade, supermarket, Compostable bags/Fruit convenient store & Vegetable bags Garbage bags Made by virgin, recycle and/or bioplastic resin. Used as house brands and used in garbage handling of modern trade, supermarket, convenient store Loop-handle/ Used in shopping malls, gift shops Die cut bags/ Fashion bags EMAP film bags Used in logistic of vegetable & fruits to extend life 55,920 ton/year Production Capacity Sales proportion Plastic Bags: Export 94%, domestic 6% (as of 1Q16) Export to countries Australia, United Kingdom, France, U.S.A., Japan, etc. “ Customers only has to specify the required usage and/or properties, functions, and appearance of bags , TPBI delivers the rest ” Strictly Private & Confidential Page 9
TPBI Group’s Products: Plastic Bags ( Cont.) We have been No. 1 in plastic bags … … and are ready to be No. 1 in green products . Vest carrier bags / T-shirt bags Bioplastic garbage bags Without printing With printing Garbage Bags Bioplastic loop-handle bags Rolled bags Flat bags Loop-handle / Die cut bags / Fashion bags Bioplastic die cut bags Strictly Private & Confidential Page 10
TPBI Group’s Products: Multilayer Blown Film “ TPBI manufactures 4 main types of multilayer blown film, with a capacity of 9,000 Ton/Year” Items Details Sample of Customers Lamination film Mostly used to produce flexible packaging for food Product mix Flexible packaging manufacturers Emphasize on the hygiene in production Mostly used as packaging for fresh foods to extend shelf-life Barrier film Flexible packaging manufacturers It can protect packed goods from oxygen, humidity and any contaminations. Emphasize on the hygiene in production Stretch hood Used to cover goods packed in pallet Petrochemical industry, cement manufacturers To keep packed goods clean, stay in good shape, and easy for shipment Used to wrap goods for amount wanted such as wrapping 12 Bottled water manufacturers Shrink film bottles of water in one pack 9,000 ton/year Production Capacity Customers Sales proportion Multilayer blown film: Export 7.4%, domestic 92.6% (as of 1Q16) Export to countries Singapore, Japan, Philippines, Vietnam , etc. Strictly Private & Confidential Page 11
TPBI Group’s Products: Flexible Packaging “Flexible packaging for frozen food, ready -to-eat food, and others are operated under TAK, a company within TPBI Group” Items Details 100 million meter/year Production Capacity Run up to 250 meter per minute Printing Machines Spec. 9-colour printing Package Types 3-side-sealed, center-sealed, side-sealed, corner-sealed, 4-side-sealed, sandwiches bag etc. Quality Control Auto VDO inspection Food safety grade Physical properties tests ex. water and heat resistant Customers Food manufacturers, traders/distributers Sales proportion Flexible Packaging: Export 0.2%, domestic 99.8% (as of 1Q16) Strictly Private & Confidential Page 12
TPBI Group’s Product & Market Diversification “ TPBI Group distributes their different types of products to various regions to diversify the risk of relying on a few market” Product Diversification Market Diversification In the quarter ending 31 March 2016, approximately 64% of TPBI Group’s total sales for quarter ending 31 March 2016 is THB total sales are from exports to international markets while 1,177.32 mm, having sales proportion by products as follows: 36% are from domestic sales. TPBI group’s international markets composed of different 20.3% countries in various regions, i.e. Asia, Australia, America, Europe, and Africa 47.0% 13.6% AUSTRALIA 24% THAILAND AUSTRALIA THAILAND 36% 12.4% 18% OTHER 24% 6.7% COUNTRIES JAPAN 4% 12% JAPAN 9% USA EU 20% Garbage bags Vest carriers/t-shirt bags Multi-layer blown film 22% Flexible Packaging Others OTHER COUNTRIES EU USA 2% Vest carrier bag is the main product which contributes 13% 16% approximately 47% of the Group’s total sales. It is mainly exported to Australia, Europe, USA, and Japan. Note:*Other countries include New Zealand, Korea, Belgium, Indonesia, Nigeria, India, etc. Strictly Private & Confidential Page 13
Industry Overview & Competition Plastic Bag Market International Domestic Example of domestic players with similar type of plastic bags Top 5 global exporters of plastic sacks & bags 2015 (full-year) Total revenue (THB mn) Value Companies Rank Exporters % 2013 2014 2015 (USD mn) 1 st China 2,797 27 TPBI PCL. 3,881 4,784 4,806 2 nd Germany 882 9 King Pac Industrial Co., 3,117 2,969 N/A Ltd. 3 rd U.S. 709 7 Naraipak Co., Ltd. 2,229 2,391 N/A 4 th Thailand 583 6 Thantawan Industry PCL. 1,667 2,095 2,376 5 th Vietnam 529 5 6 th Canada 465 5 Multibax PCL. 1,479 1,760 1,732 Source: International Trade Centre as of 26 Apr 2016 Thai Griptech Co., Ltd. 960 918 N/A Top 5 competitors of Thai exporters are exporters from China, Source:BOL, 26 Apr 2016 Germany, U.S.A., Vietnam, and Canada Germany and U.S.A. mainly exports plastic bags for medical industry or other special types of plastic bags Thus, key competitors of Thai exporters who exports similar type of plastic bags are China, Vietnam, and Malaysia (7 th ) Strictly Private & Confidential Page 14
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