Your Ultimate Solution Partner 1 WHA Group Disclaimers The - PowerPoint PPT Presentation

WHA Corporation Public Company Limited Opportunity Day 3Q2018 Result “Your Ultimate Solution Partner” 1

WHA Group Disclaimers The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in WHA Corporation Public Company Limited ( “ WHA ” and shares in WHA, “ shares ” ) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. In addition, this presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as “ expects, ” “ plans, ” “ will, ” “ estimates, ” “ projects, ” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions. 2 19 Nov 2018 15 Nov 2018

Agenda I. WHA Group Overview II. Summary of Operating Performance - 3Q2018 III. Business and Financing Plan - 2018 IV. Financial Performance - 3Q2018 Appendix 3 15 Nov 2018 19 Nov 2018

WHA Group Overview WHA GROUP AT-A-GLANCE Industrial Development Logistics 9 + 5 /1 51,696 /1 2.3 /2 mm m 2 under owned & managed industrial estates rais total IEs business’s operating matrix 735 well‐known 13,000 /1 200+ well‐known tenants profile customers profile rais available for sale 30 % 27 % 34 % 36 % Japanese Auto Japanese 3PL Utilities & Power Digital Platform 100 109 4 357 511 Utilities data centers mm m 3 in Y’17A mm m 3 in Y’18E equity racks equity racks 521 5 Power 478 FTTx Services equity MW in Y’18E equity MW in Y’17A Industrial Estates WHA is a SET-100 listed company with a market capital of USD 1,774 /2 mm and under MSCI small-cap index /1 Including only 1 st Phase of Vietnam Project amounting to c.3,110 rais (498 ha), net sellable area of c. 2,300 /2 Including pre-leased area rais (371 ha). Total Vietnam Project amounts to c. 20,000 rais (3,200 ha) 4 15 Nov 2018 19 Nov 2018 /3 as of 12 Nov 2018 /1 Including the land area partnering with IRPC under WHA Industrial Estate Rayong

WHA Group Overview Group Structure – Operating Companies Property Funds and REITs Core Business 15.00% 15.00% 98.54% WHA Corporation PCL WHA Industrial Development PCL. WHART WHABT – – Registered – THB 1,567.8 mm NAV per unit – THB 9.81 /1 NAV per unit – THB 10.21 /1 – Registered – THB 6,000mm paid-up Cap – THB 1,433.4 mm Paid-Up Capital – THB 1,957.4 mm //1 paid-up Cap – THB 3,882mm Paid-Up Capital – THB 18,038.3 mm /1 Total Asset – THB 28,084.3 mm Total Asset – THB 2,632.2 mm 15.00% 22.95% 70.00 % /2 97.68 % HREIT HPF WHAUP /2 WHA Infonite NAV per unit – THB 8.79 /1 NAV per unit – THB 9.90 /1 Registered – THB 3,825 mm Registered – THB 400 mm Paid-Up Capital – THB 6,373.5 mm /1 Paid-Up Capital – THB 4,629.5 mm /1 paid-up Cap – THB 3,825 mm Paid-up – THB 400 mm Total Asset – THB 9,214.3 mm Total Asset – THB 4,728.1 mm JV Collaborations – Utilities & Power Collaborations with Partners 25.01% 3 5.0 0% 12.75% 25.01% 51 .0 0% 65.0 0% 5 0 .0 0% WHA Daiwa Logistics Central WHA Alliance Gheco-One Houy Ho Power Gulf Solar WHA KPN Alliance BPWHA1 Property 99 .0 0% 60.00% 60.00% 5 . 0 0 % 25.01% 75.00% 33.33% WHA Industrial Zone Eastern Seaboard WHA Industrial Estate Chonburi Clean GJP NLL WHA Gunkul Glow IPP Nghe An /2 Industrial Estate /2 Rayong /2 Energy 33 . 33% 15.00% 25.01% 51.00% 25.01 % Gulf TS1-4 Gulf WHA MT Genesis Data Center Supernap (Thailand) Gulf VTP Remarks: /1 Held by WHA Industrial Development PCL. /2 Held by WHA Industrial Development PCL. 5 19 Nov 2018 15 Nov 2018 • Info as of Nov 2018 • NAV info as of Sep 2018

WHA Group Overview Location Map 6 15 Nov 2018 19 Nov 2018

Summary of Operating Performance - 3Q2018 2018 Outlook 2018 K E Y T A R G E T COMPLETE FTTx EXPECTED ASSET MONETIZED TO 10 9 1,400 M 3 RAIS OF LAND WHART AND HREIT OPERATION IN 9 228,000* UTILITIES SOLD & MANAGED SALE WITH M 2 INDUSTRIAL ESTATES VOLUME 80% TARGET PRE-LEASED Initiative of 1,000 YEAR-END RAIS OF LAND AREA RO technology OCCUPANCY RATE FOR 250, 000 TRANSFER DATA CENTERS M 2 to improve GPM 50% LAUNCH NEW I.E. OF PRE-LEASED WHA ESIE 3 POWER CAPACITY START PROVIDING FROM HIGH-VALUE AND INCREASE TO MANAGED SERVICES 521 WITH 2,200 DEVELOPED RAIS OVERSEAS PROPERTIES EQUITY MW I N D U S T R I A L L O G I S T I C S U T I L I T I E S & P O W E R D I G I T A L P L A T F O R M D E V E L O P M E N T Remark: *Including assets sold to HREIT of 55,000 sq.m. on Jan 4, 2018 7 19 Nov 2018 15 Nov 2018

Financial Performance Financial Highlights During 9M’18 and 3Q’18 Total Revenue Inclusive of Share of Profit Unit: THB mm % Representing Normalized Revenue Growth + 12% 7,227 19,325 60 6,922 48 (39%) 12,410 459 718 2,150 (16%) 5,744 120 1,757 125 18,319 5,408 7,238 19,277 10,446 6,463 11,692 1,586 1,190 2,030 1,703 1,494 513 1,055 443 1,246 958 (71) (71) 2016 2017 3Q2017 3Q2018 9M2017 9M2018 Normalized Total revenue Revenue Impact From FX One-off Item Normalized Share of profit Write-Off Tax Payment • During the first 9 months of 2018, total revenue including share of profit increased 4% Y-o-Y. However, excluding the FX impact and one-off item, the normalized total revenue inclusive of share of profit increased by 12% Y-o- Y mainly attributable to the asset monetization to HREIT during Q1’18 despite fewer land transfer 8 19 Nov 2018 15 Nov 2018

Financial Performance Financial Highlights During 9M’18 and 3Q’18 Net Profit Unit: THB mm % Representing Normalized Net Profit Growth 22% 20% 19% 15% 3,266 (4%) 2,898 1,599 20% 19% + 17% 1,446 50 34 321 42 506 84 (23%) 363 87 1,454 2,864 2,864 2,764 2,764 1,504 1,238 1,238 422 422 376 326 (50) (50) 2017 3Q2017 9M2017 2016 3Q2018 9M2018 (1) One-off Item Normalized Net Income Net Income Impact From FX Write-Off Tax Payment FX Normalized Net Income Margin • The reported net profit during 9M’18 dropped by 7% Y -o-Y due to significant decrease in FX gain between 9M’17 and 9M’18. However, excluding FX impact and one-off item, the normalized net profit grew by 17% Y- o-Y Remark: (1) Impact from FX attributed to parent 15 Nov 2018 19 Nov 2018 9 Realize profit (loss) of FX impact for the period 9M’18 and 3Q’18: THB 18 mm and THB (2) mm