#1H2 Corporate Presentation YEARS 35 EGCO GROUP 31 October 2022 Hydrogen H2 HYDROGEN POWER#21 AGENDA EGCO COMPANY OVERVIEW AND STRATEGIC DIRECTION 2 EGCO's Strategy and Outlook 3 EGCO Financial Performance Q2/2022 YEARS 35 EGCO GROUP 2#3EGCO AT A GLANCE Shareholders Structure Company Information Resources/Energy & Utilities YEARS 3EGCO GROUP Business Type NVDR 7.36% Foreign Investors 6.20% Market Capital THB 89,762 million EGAT 25.41% Index 526 Credit Rating million shares Thai Investors As of October 31, 2022 37.09% CG Report SET50/SET100/SETCLMV / SETTHSI / SETHD TRIS "AA+" with Negative ΑΑΑΑΑ บท น มา ห บท นาน บทค Niva Case TEPDIA 23.94% 5 Business Line Recognition SET Awards 2021 "Rising Star Sustainability Awards" S&P Global Sustainability Award 2022 "Silver Class" The 1st independent power producer in Thailand 1 Independent Power Producer (IPP) 6,079 M We 2 Small Power Producer (SPP) 51% Overseas 38% IPP Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Dow Jones Sustainability Indexes 3 Very Small Power Producer (VSPP) 10% SPP 1% 4 Overseas Power Producer VSPP The 1st 5 Other Businesses: Fin Tech, O&M, Innovation Business, Management service, Oil pipeline, Industrial estate and Coal mining power generating company in Thailand Listed on DJSI Emerging Markets Index in Electric Utilities sector For 2nd consecutive year 3#4GPS Nakhon Sawan / Chai Nat / (26MW, 60%) Phetchabun Lop Buri EGCO Group's Portfolio 6,079 MWe 33 Power Plants 9 Other Related Power Business Operating Under Construction 5,846 MWe 233 MWe Fin Tech and Innovation Business Oil pipeline and Coal mining O&M and Management service 用 NED (63MW, 67%) + Gyeonggi Paju ES Taiwan (1,823MW, 49%) Seoul H₂ South Korea Gangdong (20MW, 49%) Taiwan Strait Yunlin (640MW, 25%) SPP2 Xayaburi Laos Suphan Buri/ Nakorn Pathom Solarco (57MW, 49%) TPN (Oil Pipeline) GPG (8MW, 100%) (1,468MW, 50%) Saraburi XPCL (1,280MW, 12.5%) Bolikhamxay NT1PC E&E (644MW, 25%) (O&M,40%) Thailand Chaiyaphum 35 EGCO GROUP Roi Et Khammouan 用 SPP5 NTPC (1,070MW, 35%) Roi-Et Green (8MW, 100%) (9MW, 70.3%) Si Sa Ket 用 SPP3 田 SPP4 (8MW, 100%) (6MW, 100%) TWF CWF (7MW, 100%) (80MW, 100%) Rayong EGCO Cogen EGCO Cogen BLCP ESCO ERIE Ratchaburi Solar Biomass New BPU (215MW, 100%) (116MW, 80%) Replacement (1,347MW, 50%) (O&M, 100%) (IE,100%) (75MW, 80%) Jersey Linden Cogen Nakhon Si Thammarat (972 MW, 28%) Natural Gas USA Virginia KEGCO(KN4) (930MW, 100%) APEX (294 MW, 17.46%) * 2 project Bangkok Peer Power (Fintech, 24%) Innopower (Innovation, 30%) Yala Pathum Thani GYG (20MW, 50%) KLU (102MW, 100%) As of October 31, 2022 Coal Wind Farm Offshore Wind Farm Geothermal Hydro Fuel Cell Other Business Project Under Construction South Sumatra A MME (Coal Mining,40%) Indonesia West Java SEG Salak Darajat (227MW, 20%) (377MW, 20%) (270MW, 20%) Australia Quezon QPL SBPL BRWF (113MW, 100%) (460MW, 100%) (455MW, 49%) Philippines New South Wales PEPOI QMS (O&M, 100%) (Management, 100%) 100%) 4#5Subsidiary JV/Investment EGCO INVESTMENT DIRECTION FOR SYNERGY CREATION EGCO Operates/Invests in 3 key areas covering the value chain Supply Industrial Estate: ERIE DL TANKER LNG Shipper License Coal Mining: MME • Oil Pipeline: TPN • Power Business EN 111 POWER GENERATION: POWER PLANTS Clean Energy Development: Bloom Energy Renewable Project Development: APEX YEARS EGCO Customer Solution & Startup Management Service: QMS GROUP O&M Power Plant Maintenance: ESCO, PEPOI O&M Power Plant Maintenance: E&E Fin Tech: Peer Power Innovation Business: Innopower LO#6EGCO POWER PLANT PORTFOLIO EGCO Currently Operates 31 Power Plants and 4 Under Construction with total of 6,079 M We Power Generation Business In Pipeline Overseas 3% Overseas 48% Overseas 51% Thailand In Pipeline - Domestic 1% South Korea 15% Philippines 11% Laos 11% 6,079 MWe 38% (5,846+233 MWe in USA 5% Indonesia 3% Australia 2 Taiwan 1% In Pipeline - Overseas 3% Note: Include APEX MWe from COD Project IPP pipeline) 9% 1% SPP 1% VSPP YEARS 35 EGCO GROUP Power Business by Fuel Type Domestic 49% Coal 1,356 MWe BLCP, QPL, SBPL Natural Gas 3,299 MWe 22% Renewable 6,079 MWe 54% 1,424 M We KN4, GPG, BPU, EGCO Cogen, KLU, Paju ES, Linden Cogen In Pipeline: Cogen 24% Replacement Roi-Et Green, NED, SPP2, SPP3, SPP4, SPP5, GYG, GPS, TWF, CWF, Solarco, SEG, Salak, Darajat, BRWF, Gangdong, NTPC, XPCL, APEX-Mulligan Solar, NT1PC In Pipeline Domestic - 48% 竹 In Pipeline: Yunlin, APEX-Great Pathfinder Power Business by Market 雪乡 Industrial User 166 MWe 3% 18% Power Pool 1,138 M We 79% PPA 4,775 M We 6,079 MWe 6#7EGCO STRATEGIC DIRECTION 'Moving towards an elevated "sustainable future" through new energy development and other investments while serving demand in existing markets' 2022 • SEEKING FOR GROWTH OPPORTUNITIES Ensuring consistent portfolio management Investment value of 30,000MB per year 1,000 MWe Growth Unit: MWe 6,930 5,646 1,000 284 2021 2022 2022 2025 NEW ENERGY FOR SUSTAINABLE FUTURE • Commercializing new energy and enhancing growth Unit: Million Baht ~150,000 ~30,000 ~30,000 ~30,000 30,000 2021 2022 2023 2024 Accumulated Investment 2025 2030 YEARS 33 EGCO GROUP BECOME A LEADING TECHNOLOGICAL-DRIVEN/ INTEGRATED POWER PLAYER FOR SUSTAINABILITY Expand Innovative power technology to drive sustainable growth Upstream 25% Renewable 30% Midstream* 66% Conventional 70% Downstream* 9% 2030 *% Net profit generation (Estimated) Reduce carbon emission intensity 10% within 2030/ To achieve carbon neutral within 2050 Continue to Achieve DJSI 7#8AGENDA EGCO COMPANY OVERVIEW AND STRATEGIC DIRECTION 2 EGCO'S STRATEGY AND OUTLOOK 3 EGCO Financial Performance YEARS 35 EGCO GROUP 8#9COMPANY HIGHLIGHTS 25 676 65.32 14 55.01 TRADING PLATFORM YEARS 35EGCO GROUP Strong Financial Performance Q2 and 1st Half 2022 Q2/2022 Operating Revenue was Baht 15,217 million, increased by 48% from Q2/2021, while Operating Profit increased by 17% from the same period 1H/2022 Operating Revenue was Baht 28,659 million, increased by 52% from 1H/2021, while Operating Profit increased by 53% from the same period Powerplant COD Project as Planned On 12 August 2022, Nam Theun 1 (NT1PC) COD totaling 514.3MW (Contracted Capacity with EGAT) APEX Solar Power Plant COD with capacity of 70MW in July 2022 SPP Cogeneration Replacement Project in Progress SPP Cogeneration Replacement in Rayong began construction in May 2022 Complete loan agreement in June 2022 Expected COD in January 2024 EGCO Received Awards for Outstanding Operation In April 2022, EGCO received 'Golden Heart Award' from the Health & Elderly Establishment Confederation (HEC) for consistent support to the wider community during the COVID-19 pandemic In August 2022, EGCO received "Asia Responsible Enterprise Awards 2022" (AREA 2022) for the second consecutive year EGCO received "Thai Private Sector Collective Action Against Corruption: CAC" for the second time reflecting a strong anti-corruption policy throughout the organization EGCO Projects Qualified to Join ERC Sandbox On 10 August 2022, EGCO was qualified to join the ERC Sandbox Phase 2 which is a project to test innovation projects with ERC in order to develop energy technologies that will minimize impact to climate change#10EGCO STRATEGIC ACTION An elevated "sustainable future” through new energy development and other investments while serving demand in existing markets 1 • ENHANCE EXISTING BUSINESS FOR SUSTAINABILITY Ensure strong conventional energy portfolio to serve demand domestically and internationally Expand RE portfolio to work towards • carbon neutral Corporate Governance Consistency 3 CORPORATE GOVERNANCE CONSISTENCY Enhance credit standing and move towards investment grade Maintain DJSI 2 GROW AND SEEK FOR OPPORTUNITES IN RELATED BUSINESS Expand presence along the value chain New S-Curve Businesses: Study new energy solution New Business Model Diversify into new businesses Investment in start-ups: Fintech, Crowdfunding Consistent Portfolio Management Enhance Existing Business YEARS 35 EGCO GROUP Grow Related Grov Business Operational Excellence 4 OPERATIONAL EXCELLENCE Transform organization for future growth Integrated IT platform to support New Normal Operation Create best practice for sustainability YEARS EGCO GROUP 10#111 ENHANCE EXISTING BUSINESS FOR SUSTAINABILITY EGCO has a diversified Domestic and Overseas Power Plant Portfolio with Strong Performance YEARS EGCO GROUP EGCO Cogen Replacement (60 MWe) ➤ Ensure strong conventional energy portfolio to serve demand domestically and internationally and Expand RE Strong Conventional Energy Portfolio Domestic Power Business KLU (102MWe) Renewable (219MWe) EGCO Cogen (93 MWe) Overseas Power Business Taiwan (160 MWe) Yunlin Australia (113 MWe) BRWF CWF, TWF, NED, 4%3% Solarco, GPS, SPP2, 2% KEGCO (930MWe) SPP3, SPP4, SPP5, 7% GYG, RG 31% Indonesia (175MWe) SEG, Salak, Darajat USA (323 MWe) 4% 5% 6% 29% South Korea (903MWe) 7% BPU (215MWe) 11% 3,026 M We Linden Cogen, APEX-Mulligan Solar, APEX-Great Pathfinder 3,053 M We PAJU ES, Gangdong 22% BLCP (673MWe) 24% GPG (734MWe) Philippines (683 MWe) QPL, SBPL 22% 23% Laos (696 MWe) NTPC, XPCL, NT1PC ✓ Focus on investment in High Efficiency Low Emission (HELE) energy and low carbon solution Growth Direction Participate in bidding for Renewal Energy Projects according to policy ✓ Advantage on international exposure to acquire good projects into portfolio i.e. Linden Cogen, PAJU ES ✓ Strong shareholder network Growth Direction Leverage strong connections with existing partners in seeking new projects and obtaining new growth opportunities Seek and Study for technologies to support future growth 11#121 ENHANCE EXISTING BUSINESS FOR SUSTAINABILITY EGCO expansion plan focuses on renewable energy including Hydro, Wind and Solar (APEX strategy to self-operate a proportion of 2/3 of total COD projects) Expand RE portfolio to work towards carbon neutral Power Generation Business in Pipeline (Equity MW) Unit: MWe YEARS 33 EGCO GROUP +1,000 MWe 510 MWe 247 MWe 5,646 284 MWe 2021 2022 Contracted Project Type SCOD Project 2022 Capacity (MW) (% Share) NT1PC 2022 644 (25%) 161 COD (MWe) = (COD 12 Aug 129 MWe) 2023 2024 2023 COD (MWe) 2024 COD (MWe) 51 APEX 2023 Onwards 3,830 (17.46%) (COD 25 July 12 MWe) (SCOD Q4 = 39 MWe) = 167 450 YUNLIN 11 2021-2023 640 (25%) 72 60 80 EGCO 75 2024 60 COGEN (80%) 60 Total 284 247 510 12#131 ENHANCE EXISTING BUSINESS FOR SUSTAINABILITY Power plants under construction are on track ➤ Expand RE portfolio to work towards carbon neutral APEX - Great Pathfinder Yunlin Holding GmbH EGCO Cogen Replacement project mockup Project Progress: August 2022 Project Progress: August 2022 Project Progress: September 2022 45.00% 72.17% 36.82% Туре Wind Farm Location USA COD Q4/2022 Installed 224 MW Capacity PPA Term Shareholders: Others 83% Offshore Wind Farm Yunlin, Taiwan Q4/2021 - Q4/2023 640 MW 12 year with fixed PPA then can sell in pool market EGCO 17% September 2022, already COD 13 Turbines or 104 MW 20 years with Taiwan Power Company Shareholders: TotalEnergies EGCO 25% Renewables S.A.S. 23% Taiwan Offshore Starwind Offshore Holding GmbH GmbH 27% 25% SPP - Cogeneration (Natural Gas) Rayong Industrial Park, Mak Kha Sub-district, Nikhom Pattana District, Rayong Provice 2024 75 MW Entered into EGAT PPA 28 MW in 26 Jan 2022. Shareholders: J Power Holding (Thailand) 20% EGCO 80% YEARS EGCO GROUP 13#141 ENHANCE EXISTING BUSINESS FOR SUSTAINABILITY Power plants under construction are on track APEX CLEAN ENERGY Apex Clean Energy (APEX) Business Type Business Overview Project Information A private utility-scale renewable development company Hybrid Renewable IPP (Developer and Owner) APEX Portfolio and Construction Projects Unit: MW 43,076 301.74 42,774 40,851 41,189 44,936 Shareholding by EGCO 17.46% (Indirect). Co- Investment with Ares Infrastructure & Power Sold 1 Project 194.70 Sold 1 Project 23,026 22,725 Investment 20,861 21,025 24,711 Unit: Million Baht Wind Farm 435 8,159 Returns 201 Projects YEARS JEGCO GROUP 忏 (August 2022) Under Development 72 Projects 24,711 MW Under Construction 3 Projects 646 MW Under Development 2H/2022-2024 COD Plan 2 out of 4 Projects have been sold totaling 422 MW in 2021 14 Projects 2,578 646 1,408 6 Projects Total 13,885 MB 20,049 20,049 19,990 20,164 126 Projects 19,509 MW 4 Project 958 716 200 19,509 Solar Operation 314 Farm Project 646 1,170 Investment 444 1 Project 70 Nov-21 Dec-21 Mar-22 Jun-22 70 Aug-22 70 MW 2H/2022 2023F 2024F Stand alone storage Wind Solar 2021 2022 2023 2024 2025 2026 2027 Note: EGCO start investment in November 2021 14#152 GROW AND SEEK FOR OPPORTUNITIES IN RELATED BUSINESSES EGCO Continues to grow in power-related businesses to ensure strong presence in the value chain ➤ Expand Presence Along the Value Chain Projects in Progress Supply TPN Oil Pipeline . 20 years exclusive rights to operate oil pipeline transportation system with Thappline • Rayong Industrial Estate Smart, Green and Sustainable Industrial Estate to support the investment in EEC Other Power Businesses 8 YEARS 3EGCO GROUP Customer Solution & Startup INNOPOWER New S-Curve Business: BLOOM New Energy Solution: To develop hydrogen to generate alternative fuel sources to support carbon neutral Bloomenergy • • Investment in Start-Ups InnoPower 887MB Investment in disruptive technology: Innovation Business, Power Pool, Energy Storage, Smart grid and EV car Stage: Begin Investment 0 PeerPower Investment in Start-Ups Peer Power - 363MB Investment in Crowd funding in fintech startup Stage: Fund-raising 15#162 GROW AND SEEK FOR OPPORTUNITIES IN RELATED BUSINESSES Thai Pipeline Network (TPN) is on schedule with COD in Q4/2022 Thai Pipeline Network (TPN) EGCO Rayong Industrial Estate 66-T-21010 66-T-2101B 66-T-2201B 66-T-2201A 66-T-2101 A 66-1-2301A 8 YEARS 35EGCO GROUP Project Progress: September 2022 99.96% Project Description: Type Oil Transportation Service Business Location ― Saraburi Khon Kaen Operation Date Capacity Contract Agreement Q4/2022 5,443 million liters 20 years exclusive rights to operate oil pipeline transportation system with Thappline (can be extended 10 years x 2 times) Project Progress: AEC submitted construction drawings to IEAT for approval on July 8. The reply from IEAT is expected within July 2022. Request to the cadastral survey was submitted to Land Office of Rayong province. EGCO and AEC agreed to terminate the consultancy service agreement effect from October 2022 Smart, Green and Sustainable Industrial Estate to support the investment in EEC The site of Rayong power plant in Rayong 2023 Area: 621 rai Business terms: Leasing in long term & selling land plots Customers: Hi-tech, Innovation, R&D factories Volume Unit: Liter 1,410* +30.6% Estimated CAGR 2022 2023 2024 2025 2026 Shareholders: BIGGAS 55.4% Note: *2022 volume is based on June - December EGCO 44.6% Shareholders: O EGCO 100% 16#172 GROW AND SEEK FOR OPPORTUNITIES IN RELATED BUSINESSES EGCO invests in new energy sources to become an elevated sustainable power producer Bloomenergy® Bloom Energy - Develop Hydrogen to Generate Alternative Fuel Sources * EGCO EGAT Power for Thai Happiness Bloomenergy 8 YEARS EGCO GROUP GROUP Fuel Cell Technology Fuel Cell Technology by using Hydrogen to generate alternative fuel sources Benefits/Sustainability Factor for Grey Hydrogen ~50% Reduction in CO2 emission compared to Coal Power Plant -30% Reduction in CO2 emission compared to Combined Cycle Power Plant "Moving towards a Carbon Neutral company" Unit: MW Timeline • • 5 2022 Plan to Invest 5 MW Engineering design in progress Bloomy Investment Pipeline • 25 5 2023 • Begin to Supply Power 5 MW Plan to Invest 25 MW 17#182 INNOVATION INVESTMENT: PeerPower EGCO aims to obtain new technology from PeerPower to enhance EGCO's system YEARS 33 EGCO GROUP ☑ PeerPower B 2021 Investment in Peer Power Company Limited Business Type Location Revenue Structure EGCO EGCO Portion GROUP Transaction Close PeerPower overview A fintech startup (The crowdfunding platform provider approved by SEC) Bangkok, Thailand An investment fees of 1.25% of the subscription amount from investors. A fundraising fees of 3-4% of successful fundraising amount from issuer. 24.24% December 21,2021 Business Owner Raise funds for business expansion, working capital, debt consolidation Business Overview • • Advantages • • 2 PeerPower Credit assessment and connect with investors A fintech startup established in 2016. Investor Earn regular cash flow and diversify investment portfolio The first platform that obtained a crowdfunding license from SEC since 2019. Focusing on a crowdfunding platform which is an intermediary for funding of SMEs by issuing bond and equity crowdfunding. At the same time, it is an alternative for investors to be able to invest in business offering bond and equity crowdfunding on the platform. To collaborate by utilizing our core business competency to provide renewable energy source to supple to Peer Power's data center. To promote the development of blockchain-based energy trading platform. To pave the way towards decentralized energy and the establishment of a comprehensive power and energy ecosystem. 18#192 INNOVATION BUSINESS: INNOPOWER EGCO invest in INNOPOWER to enhance returns and seek for new technology YEARS 33 EGCO GROUP Innopower Company Limited The company focuses on energy and technology innovation investment in Thailand and overseas through venture capital, venture builder, and business partnership. It aims to create value from new businesses to replace and increase the growth of the energy and technology industry in Thailand. INNOPOWER CRATCH GROUP EGCO GROUP Innopower overview Business Target Registered Capital Innovation Business, Power Pool, Energy Storage, Smart grid and EV car 600 MB 5 years Investment Cap 2,960 MB 1. To invest in disruptive tech. Company Purpose Advantage Shareholders: 2. To develop a networking on researchers, institutions, startups and smart SMEs. Strengthen EGCO Group's Smart Energy Solution business in order to expand its core business with innovation and future energy technology. Project Progress: = 1st payment injected on 6th Sep 2021 - 45 MB Appointed Mr. Athip Tantivorawong as the first Chief Executive Officer (CEO) on February 1, 2022 Operating through 4 main departments: RATCH 30% EGAT 40.0% 1. Collaborator EGCO 30% 2. Incubator 3. Accelerator 4. Corporate Venture Capital (CVC) 19#203 CORPORATE GOVERNANCE CONSISTENCY TRIS RATING A Strategic Partner of S&P Global SET THS THAILAND SUSTAINABILITY INVESTMENT 2022 Thai Institute of Directors. รร ต น ง ติ National & Craided YEARS •JEGCO GROUP RISING STAR Sustainability Excellence 2021 Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Sustainability Award Silver Class 2022 S&P Global Listed SETTHSI for 8th Consecutive Year EGCO listed THSI (Thailand Sustainability Investment) 2022 for the 8th consecutive year Rated AA+ with Negative Outlook by TRIS EGCO received AA+ rating with Negative outlook by TRIS rating in 2022 Excellent Rating on CGR from IOD EGCO received an excellent rating on Corporate Governance Report of Thai LISTED COMPANIES (CGR) with a total score of 97 points from a survey by Thai Institute of Directors in 2021 Achieved Rising Star Sustainability Awards by SET EGCO received Rising Sustainability Awards for SET market capitalization of over Baht 100 BN in 2021 Listed 2021 DJSI for 2nd Consecutive Year EGCO Group listed as DJSI member in emerging markets index in Electric Utilities category for 2nd consecutive year in 2021 Silver Class Distinction in Sustainability Award from S&P Global in 2022 EGCO was rated Silver Class and ranked in the world's top 10 in the category of Electric Utilities from the S&P Global Sustainability Award and was selected in the Sustainability Yearbook 2022 from S&P Global Assessment 20#213 CORPORATE GOVERNANCE CONSISTENCY EGCO has a strong journey in sustainability • ENVIRONMENTAL Responsible to Climate Change • . SOCIAL Implement Human Capital Mgmt. Create Talent Attraction and Retention Support Occupational Health and Safety 7 GOVERNANCE • Operate businesses in accordance with Corporate Governance principles YEARS 33 EGCO GROUP 2000 Signed the first PPA on a biomass power plant 2003 Introduced the first code of conduct Operated the first biomass power plant 2002 Established the Thai Conservation of Forest Foundation 2010 • Declaration of Anti-Corruption Operated the first hydro power plant 2007 Publication of EGCO Group's first SD Report 2012 • • Operated the first solar power plant Achieved 10% RE portfolio 2014 2015 Operated the first geothermal power plant Member of Thailand's Private Sector Collective Action Coalition Against Corruption Listed in SET THSI Index THSI THAILAND SUSTAINABILITY INVESTMENT 2021 2011 Publication of the first SD Report in accordance with Global Reporting Initiative 2013 Operated the first wind power plant 2019 • Invested in Fuel • . Cell Power Plant Invested in Oil Pipeline distribution business 2021 • Listed in DJSI Emerging Markets Index - 2nd consecutive year Listed in SET THSI Index 7th consecutive year Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA THS THAILAND SUSTAINABILITY INVESTMENT 2021 2018 · Organized the first • supplier day and Innovation Team Challenge Achieved 20% RE portfolio 2020 Listed in DJSI Emerging Markets Index Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA 2022 Silver Class Distinction in Sustainability Award from S&P Global Listed in SET THSI Index 8th consecutive year Sustainability Award Silver Class 2022 S&P Global THS THAILAND SUSTAINABILITY INVESTMENT 2022 21#223 CORPORATE GOVERNANCE CONSISTENCY EGCO Group continues to carry out CSR activities in order to return to society and environment โรงไฟฟ้าขนอม ในกลุ่มเอ็กโก ร่วมกิจกรร ปักดำต้นกล้าข้าวลงแปลง aduaquavu: เอ็กโก กรุ๊ป ขยายผลสำเร็จ ด้านการจัดการขยะสู่ชุมชน “วัดชลประทานฯ” SEGC∞| แบ่งปันควาน การจัดmsves YEARS •EGCO GROUP EGCO joined to support "Planting rice seedlings in fields Project" Khanom power plant collaborated with teachers and students of Ban Khao Hua Chang School to create sustainability in education and coexist with communities around the power plant "Khao Mai Pla Mun" Project The exchange of agriculture products between organic rice from farmer network in Surin and organic seafood in Khanom district. The project aims to build cooperation and food security for both communities "EGCO Ecosystem" Project EGCO group received "Asia Responsible Enterprise Awards 2022 (AREA 2022)", the 2nd consecutive year, from Enterprise Asia This award reflects regional acceptance on business operations in line with EGCO Group's sustainable development 22#23YEARS * EGCO 2H/2022 OUTLOOK GROUP Jor SEEKING FOR NEW GROWTH OPPORTUNITIES Potential M&A Deals in 2022 M&A deal for Conventional energy & Renewable energy in 2H/2022 Exploring additional potential opportunities expected to finalize in 2022 Power Plant COD Nam Theun 1 (NT1PC) COD additional 130 MW for contracted capacity with EDL in Q4/2022 • APEX Great Finder is • S Begin Operation of Oil Pipeline TPN ready for oil-in expected to COD in Q4/2022 with 224MW 23#242 3 AGENDA EGCO Strategic Direction and Company Overview EGCO's Strategy And Outlook EGCO FINANCIAL PERFORMANCE YEARS * 35 EGCO GROUP 24#25KEY FINANCIAL HIGHLIGHTS Total Revenue Operating Profit 15,217 MB 48% YoY • In Q2/2022, Total Revenue was THB 15,217 million, increased by THB 4,959 million or 48% YoY mainly from higher revenue from overseas and IPPs both subsidiaries and JVs • • 3,219 MB 17% YoY In Q2/2022, Operating Profit increased by THB 461 million or 17% YoY mainly from higher electricity sales of BLCP and NTPC Significant growth from MME as a result of higher coal export and increasing coal price • • Profit Before FX Operating Profit Ratio 1,828 MB -18% YoY In Q2/2022, Profit before foreign exchange was THB 1,828 million, decreased by THB 414 million or 18% YOY The decreasing profit has been mainly affected by impact of financial instruments and did not impact the cash flow of the Company • • 24.82% -3.62% YoY YEARS 33 EGCO GROUP In Q2/2022, Operating Profit Ratio was 24.82%, decreased by 3.62% YoY The decrease has been mainly affected by increase in fuel costs for electricity generation 25#26OPERATING PROFIT OF OPERATING ASSETS: BREAKDOWN Q2/2022 (Excluding holding company and under construction projects) YEARS Domestic 31% or 1,398 MB Overseas 69% or 3,104 MB Others 464 MB 10% GEC, Cogen, KLU, BPU BLCP 201 MB PAJU ES 75 MB 1% 2% 1% 4% 252 MB 6% 23% Linden Cogen 45 MB 29% By Fuel Type 4,502 MB APEX 27 MB Renewable (inc. APEX) 1,292 MB 61% Conventional 2,746 MB QPL 1,026 MB GPG 7% 328 MB Total in 7% Q2/2022 4,502 MB* SPP 173 MB Renewable (Overseas) 12% VSPP 230 MB 525 MB 8% Others 464 MB 5% 4% Renewable (Domestic) 9% 10% 10% 328 MB 10% KEGCO 472 MB SBPL 347 MB Other Business 464 MB NTPC 412 MB L 22% IPP 1,001 MB By Business Line 4,502 MB 59% Overseas (inc. APEX) 2,634 MB Note: Operating Profit = Profit before FX, Deferred Tax, TFRIC 4, Impact of Financial Instruments and Impairment Operating Profit = operating profit of operating asset – holding company - under construction (3,219 = 4,502 - 1,239 - 44) EGCO GROUP 26#27OPERATING PROFIT Operating Profit increased by 15.2% YoY in Q2/2022 and 43.0% YoY in 6M/2022 mostly contributing from profit sharing of JV and higher sales of overseas and other related businesses. Operating Profit Breakdown by Business Type* Operating Profit Breakdown by Power Plant Type* YEARS Unit: Million Baht +15.2% YoY +43.0% YoY Unit: Million Baht +15.2% YoY +43.0% YoY 10,160 -20.4% QoQ 10,160 -20.4% QoQ 7% Others 5% VSPP 2% SPP 15% IPP 7,107 7,107 4% 69% Profit Sharing 9% 5,658 53% 4,502 from 5,658 9% investment in JV 3,909 77% 59% 49% 3,909 10% 4,502 18% 10% 5% 2% 8% 71% Overseas 22% 22% Operating 80% 47% 31% profit from 60% 51% subsidiaries 41% 59% 58% 23% Q2/21 Q1/22 Q2/22 6M/21 6M/22 *Operating Profit exclude holding company and under construction Q2/21 Q1/22 Q2/22 6M/21 6M/22 EGCO GROUP 27#28OPERATING PROFIT AND NET PORFIT Operating Profit Unit: Million Baht • 447 70 3,219 2,758 (19) (37) Change of... New Projects XX Q1/2021 Change of AP Under... Unit: Million Baht 3,219 (1,672) Net Profit 281 (3,333) Q2/2021 Change of Operating Change of New AP Projects Under Construction Q2/2022 Performance Operating Profit Q2/2022 Impact from Financial Instruments Deferred Tax Loss From Exchange Rate YEARS 35 EGCO GROUP 729 (776) Impact of Lease Income Net Profit (loss) Q2/2022 Operating Profit in Q2/2022 was THB 3,219 million, increased by THB 461 million or 17% from Q2/2021. The increase mainly driven by change in operating performance as a result of higher revenue from overseas and related other businesses such as MME. Also, the company had the increasing revenue from new projects such as APEX. Net Loss in Q2/2022 was THB 776 million mainly from a higher unrealized loss from foreign exchange resulting from the conversion of foreign denominated debt to Thai Baht. In addition, The company recognized the loss on remeasurement of financial instruments. 28#29NATURAL HEDGING POLICY YEARS 35EGCO GROUP EGCO's Natural Hedging Policy 78% of EGCO's outstanding loans is denominated foreign currencies which are matched with revenue from power plants received as dividend, also known as "Natural Hedge" Strategy EGCO continues the Natural Hedge policy because the FX Gain/loss incurred is unrealized which only affects to accounting • • All investments and gains are managed in the domestic currency thus EGCO does only experiences unrealized FX Gain/Loss Gains in domestic currencies are used to seek for new projects for investments EGCO & Subsidiaries Outstanding Loan (EGCO Portion) Unit: Million Baht +5.6% 114,795 108,674 21% THB 23% 3% AUD 4% 11% 13% EUR Example: Interest & Payment Payment 62% 62% USD 31-Mar-22 30-Jun-22 Bank Loan Company Sales Customers USD USD Business Operating Country Loan 31 Mar 22 30 June 22 Currency No gain/loss from foreign exchange United States Europe USD 2,035.93 2,029.83 EUR 318.21 407.80 THB F/S UNREALISED gain/loss from foreign exchange Moving Forward, the Company has plans to adjust the EGCO group debt structure as masterplan Note: FX as of Mar 22 (USD = THB 33.46, EUR = THB 37.55, AUD = THB 25.36) FX as of Jun 22 (USD = THB 35.46, EUR = THB 37.24, AUD = THB 24.71) 155.63 24,627.03 Australia AUD 161.85 Thailand THB 25,373.60 29#30CONSOLIDATED FINANCIAL POSITION Unit: Million Baht YEARS 35 EGCO GROUP BALANCE SHEET Total Assets Total Liabilities and Equity +7.0% YoY +7.0% YoY 258,956 241,932 241,932 Cash and Cash 19,556 8% 258,956 18,194 7% Total current liabilities equivalent 7% 17,898 23,513 9% 11% 27,019 Other current asset Lease Receivable 9% 20,597 15,945 6% 7% 15,744 37% 89,747 106,906 41% 50,139 19% LT Loan from financial institutions PPE 21% 49,597 9.138 4% 5% 11.129 Other non-current liabilities Other non-current 57% asset 138,096 149,803 58% 47% 114,037 124,718 48% Total equity 31 Dec 2021 30 June 2022 31 Dec 2021 30 June 2022 Total Assets as of 30 June 2022 were THB 258,956 million, increased by THB 17,024 million or 7.0% from 31 December 2021 mainly due to: • Cash and Cash equivalent increased by THB 1,658 million due to higher revenue • Other non-current asset increased by THB 11,707 million from the increase in derivative assets and long-term loans to related parties • Total Liabilities as of 30 June 2022 were THB 134,238 million, increased by THB 6,343 million from 31 December 2021 mainly due to LT Loan from financial institutions increased by THB 17,159 million Total Equity as of 30 June 2022 was THB 124,718 million, increased by THB 10,681 million from 31 December 2021 mainly due to the increase in net profit in 1H/2022 30#31KEY CONSOLIDATED FINANCIAL RATIO Unit: Times Debt to Equity Ratio 1.08x 1.04x 1.08x Q2/21 Q1/22 Gross Profit Ratio Unit: Times 1.34x Q2/22 Q2/21 Unit: % Unit: THB 29.53% 25.67% 23.32% 2.87 Current Ratio 2.76x Q1/22 Net Profit per Share 7.82 2.37x Operating Profit Ratio Unit: % 28.44% 27.61% 24.82% Q2/22 Q2/21 Q1/22 Q2/22 Book Value per Share Unit: THB 206.17 235.70 227.92 -1.48 Q2/21 Q1/22 Q2/22 Q2/21 Q1/22 Q2/22 Q2/21 Q1/22 Q2/22 YEARS EGCO GROUP 31#32HISTORICAL DIVIDEND PAYMENT 4.90% 3.48% 4.13% 3.82% 3.58% 3.50% 3.14% 3.25% 3.01% 2.81% 9.50 1H/2022 1.80% 7.00 6.50 6.25 6.25 6.00 6.00 2.50 6.50 6.50 6.50 3.50 3.50 3.25 3.25 3.25 3.50 3.25 3.25 3.25 3.25 YEARS EGCO GROUP Dividend Yield (%) Unit: Baht/Share Special Payment Second Payment 3.25 Interim Payment 3.50 3.50 3.25 3.25 3.25 3.25 2.75 2.75 3.00 3.00 3.00 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 32#33For further information, Please contact Investor Relations 02-998-5150, 5151, 5152 & 5153 [email protected] f EGCO Group 33EGCO GROUP Disclaimer This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. It also supports the "Good Corporate Governance Project" of the Securities and Exchange Commission (SEC). However, the information within this presentation has been derived from the existing factors in the present time. Therefore, the forward-looking information on this presentation may not occur in the future if the aforementioned factors or situations are changed. Investors are, nevertheless, required to use their own discretion regarding the use of information contained in this presentation for any purpose. For further information, please contact Investor Relations Section of the Electricity Generating Public Company Limited (EGCO) at Tel: (662) 998-5150, 5151, 5152 & 5153 or Email: [email protected]#34APPENDIX YEARS * 35 EGCO GROUP 34#35EGCO Group's Operating Power Plants Portfolio EGCO Group's portfolio comprises 33 power plants, total contracted capacity 6,079.49 MWe including total contracted capacity of renewable power plant 1,423.82 MWe. YEARS Power Plant Province/Country Fuel Type Plant Type EGCO Shares Contracted Attrib. Capacity Capacity (MW) (MWe) Contract Years COD Expired IPP KEGCO (KN4) GPG (KK2) Nakhon Si Thammarat Saraburi BLCP Rayong Natural Gas Natural Gas Coal Combined Cycle Combined Cycle Thermal 100.00% 50.00% 930.00 930.00 1,468.00 734.00 50.00% 1,346.50 673.25 2225 Jun 19, 2016 May 5, 2007 & Mar 1, 2008 Oct 1, 2006 & Feb 1, 2007 2041 2032 & 2033 2032 Total IPPs 3,744.50 2,337.25 SPP EGCO Cogen KLU Rayong Pathum Thani Natural Gas Natural Gas BPU Unit 1&2 Ratchaburi Natural Gas Cogeneration Cogeneration Cogeneration 80.00% 116.32 93.06 21 Jan 28, 2003 2024 100.00% 102.00 102.00 25 Jul 19, 2017 2042 100.00% 215.00 215.00 25 Oct 1, 2017 2042 Total SPPs 433.32 410.06 Renewable (Domestic) NED Lop Buri Solar PV Solar PP 66.67% 63.00 42.00 SPP2 Saraburi Solar PV Solar PP 100.00% 8.00 8.00 SPP3 Si Sa Ket Solar PV Solar PP 100.00% 8.00 8.00 5 (Automatic Renewal) 5 (Automatic Renewal) 5 (Automatic Renewal) Mar 29, 2012 & May 2, 2013 2037 & 2038 May 2, 2012 2037 Feb 21, 2012 2037 Si Sa Ket / Ubon SPP4 Solar PV Solar PP 100.00% 6.00 6.00 5 (Automatic Renewal) Jan 24, 2012 2037 Ratchathani SPP5 Roi Et Solar GYG Yala Parawood PV Solar PP Thermal 100.00% 8.00 8.00 5 (Automatic Renewal) Jun 22, 2012 2037 50.00% 20.20 10.10 25 Nov 28, 2006 2031 Nakhon Sawan / GPS Solar PV Solar PP 60.00% 26.00 15.60 5 (Automatic Renewal) Mar 1-5, 2012 & Feb 1, 2013 2037 & 2038 Chai Nat Phetchabun TWF Chaiyaphum Wind CWF Chaiyaphum Roi-Et Green Roi Et Wind Rice Husk Wind Turbine Wind Turbine Thermal 100.00% 6.90 6.90 5 (Automatic Renewal) Jul 18, 2013 2038 100.00% 80.00 Nakorn Pathom / Suphan Solarco Solar Buri PV Solar PP Total Renewable (Domestic) 291.90 70.30% 49.00% 8.80 80.00 6.19 5 (Automatic Renewal) Dec 16, 2016 2041 21 May 29, 2003 2024 57.00 27.93 5 (Automatic Renewal) Nov 18, 2013 & Dec 16, 2013 2038 218.72 As of September 30, 2022 EGCO GROUP 35#36EGCO Group's Operating Power Plants Portfolio EGCO Group's portfolio comprises 33 power plants, total contracted capacity 6,079.49 MWe including total contracted capacity of renewable power plant 1,423.82 MWe. YEARS EGCO GROUP Power Plant Country Fuel Type Plant Type EGCO Shares Contracted Capacity (MW) Attrib. Capacity (MWe) Contract Years COD Expired Renewable (Overseas) NTPC SEG Unit 1-2 Laos Indonesia Hydro Geothermal Hydro PP 35.00% 1,070.00 374.50 25 Apr 30, 2010 Thermal 20.00% 227.00 45.40 30 46(unit1-2), Jun 8, 2000 & Mar 2, 2009 Mar 12/Jun12,1994 2035 2030 & 2039 Salak Unit 1-6 Indonesia Geothermal Thermal 20.07% 376.80 75.62 43(unit3-6) July 17/Oct 10/ Nov 2,21, 2040 1997 Darajat Unit 1-3 Indonesia Geothermal Thermal 20.07% 270.46 54.27 47(unit1), 40(unit2-3) Oct 1, 1994 & June 1,2000 & 2041, 2041 and 2047 July 16, 2007 BRWF XPCL Australia Laos Gangdong South Korea Wind Hydro Fuel Cell Wind Turbine 100.00% 113.00 113.00 25 Nov 28, 2014 Hydro PP 12.50% 1,280.00 160.00 29 29 Oct, 2019 Nov 2039 Oct 2048 Renewable 49.00% 19.80 9.70 Yunlin (Partial COD) APEX - Mulligan Solar Taiwan USA Offshore Wind Renewable 25.00% 104.00 26.00 20 2020 2021-2022 2041-2042 Solar Renewable 17.46% 70 12.22 2022 NT1PC(EGAT and EDL) Laos Hydro Hydro PP 25.00% 645.10 161.28 27 2022 2049 Total Renewable (Overseas) 4,176.16 1,031.99 Overseas QPL Philippines Coal Natural Gas Thermal 100.00% 460.00 460.00 25 May 30, 2000 Jun 2025 Feb 1, 2017 & PAJU ES South Korea Combined Cycle 49.00% 1,822.96 893.25 SBPL Philippines (LNG) Coal Mar 28, 2017 49.00% Thermal 455.00 222.95 20 20 Sep 26, 2019 Sep 2039 Linden Cogen USA Natural Gas Combined Cycle 28.00% 972.00 272.16 May 1992 & Jan 2002 Total Overseas 3,709.96 1,848.36 Total Operating Projects 12,355.84 5,846.38 As of September 30, 2022 36#37EGCO Group's under Construction Projects Portfolio EGCO Group's portfolio comprises 33 power plants, total contracted capacity 6,079.49 MWe including total contracted capacity of renewable power plant 1,423.82 MWe. Power Plant under Construction Power Plant EGCO Contracted Province/Country Fuel Type Plant Type Capacity (MW) Attrib. Capacity (MWe) Years COD Expired Shares Taiwan Wind Renewable 25.00% 536.00 134.00 20 20 2022-2023 2042-2043 Yunlin (Partial) APEX-Great Pathfinder USA Wind EGCO Cogen Replacement Renewable 17.46% 224.00 39.11 Rayong Natural Gas Cogeneration 80.00% 75.00 60.00 Total Under Construction 835.00 233.11 Total Renewable 5,228.06 1,423.82 Total projects 13,190.84 6,079.49 Other Business under Construction . 2022 25 25 2024 2049 Project Province/Country Business Type EGCO Shares Completion Date Capacity (Million Liters) TPN Saraburi to Khonkaen Oil transportation 44.6% Q4/2022 5,443 Rayong industrial estate Rayong Industrial estate 100.00% Q4/2022 As of September 30, 2022 YEARS EGCO GROUP 37#38Maintenance in 2022 : Plan : Actual YEARS 33 EGCO GROUP 2020 2021 2022 Project Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 QPL 33.5D 10D 13D 45D SBPL 20D 13D 16D 15D 21D 19D 11D NTPC 78D 74D 30D XPCL Unit2:12D, U3:17D,U4: 13D,U5:12D Unit1:12D, U6:12D PAJU ES 20D 2D 44D 36D Linden Cogen BLCP KEGCO GPG 7D EGCO Cogen 24D KLU BPU 23D Unit4: 4D Unit1:1D, U3: 5D,U4: 7D, U5: 22D,U6:2D Unit6: 7D Unit2: 75D Unit1: 12D Unit2: 12D 14D 26D 9D 18D Unit1: 43D ■ 11D 28D Unit2: 45D Unit1:40D 7D Unit2: 37D Unit 2: 8D 4D 3D Unit 1:19D, Unit 2:31D Unit 3:15D, Unit 6:16D Unit1: 15D Unit 1:2D, Unit 2:2D Unit 1:2D, Unit 2:2D Unit 2:23D, Unit 5:24D Unit 3:29D, Unit 5: 46D, Unit 6:49D Unit2: 12D Unit1:37D Unit 1:6D, Unit 2:6D 38#39EGCO Group's Power Plants Portfolio (1994 - 2024) MWe - SCC ■Conal-WMPC - BLCP GYG QPL ■ MPPCL - SEG 403 MWe - CWF KEGCO (KN4) ■ MPPCL⭑ 1,070 MWe ■ Salak ■ Darajat Paju XPCL ■ SBPL 1,276 MWe Gangdong 10 MWe Yunlin ■ Yunlin ■ APEX YEARS 33 EGCO - NT1PC -CWF (10%) -TWF (10%) 293 MWe ■ Yunlin - APEX 247 MWe GROUP -APEX 460 MWe NTPC 375 MWe - SPP2-5 - GPS 46 MWe ■ BRWF - GIDEC NED - TWF 21 MWe ■ Solarco 34 MWe NED* 21 MWe ■ Linden 6,602 ■ KLU 280 MWe 6,186 ■ BPU 5,939 452 MWe 5,475 5,423 5,646 EGCO Cogen Replacement 510 MWe 6,500 RYPP 6,000 1,232 MWe 5,500 KEGCO (KN1,2&3) 5,000 824 MWe GCC 4,500 55 MWe 4,000 3,500 683 MWe ■Conal SPPC 86 MWe 3,779 GPG (KK2) 4,120 4,611 4,557 4,602 4,608 4,572 4,260 734 MWe EGCO Cogen Roi-Et Green 4,236 3,776 3,776 3,800 100 MWe NKCC 62 MWe 3,042 3,000 2,500 2,056 2,056 2,111 2,197 2,259 2,259 2,259 2,359 2,359 2,359 2,000 1,500 1,232 1,232 1,000 500 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 -500 -1,000 ■Renewable Energy -1,500 ■ *Addition KEGCO (KN1) Retired KEGCO (KN2&3) 2020 2021 2022 2023 NKCC Retired 57 MWe 2024 EGCO Cogen Retired 94 MWe SCC 75 MWe RYPP Retired 749 MWe Retired 57 MWe GCC Retired 1,232 MWe Retired 55 MWe ■ MPPCL ■Conal- WMPC ■Conal SPPC Divestment 29 MWe ■ GIDEC Divestment 312 MWe 39#40Thailand's Power Industry: As of September 2022, Thailand's power installed Capacity was 48,571.51 MW Source: EGAT πως ประเทศเลย EGAT 16,920 MW Import 6,235 MW Classified by Producer 35% 33% 13% 19% ✓ IPP 16,124 MW Hydro 4,510 MW Classified by Fuel type 15% Coal 3,857 MW 9% 8% 費 SPP 9,293 MW Other* 7,298 MW Other* include Fuel Oil, Diesel, Renewable 68% Natural Gas 32,906 MW YEARS 33 EGCO GROUP 40#41Peak Demand Comparison (EGAT System Only) As of 2022, Thailand's Peak Demand was 32,254.50 MW MW 35,000 32,254.50 MW 30,853.20 MW (Apr 27, 2022) (May 2, 2019) Peak in 2022 7.03% YEARS 33 EGCO GROUP 30,000 25,000 28,636.70 MW (Mar 12, 2020) 30,135.30 MW (Apr 3, 2021) -2019 2020 2021 2022 20,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Νον Dec MW 29,620 30,000 24,010 26,121 26,942 28,338 28,636 30,135 32,255 20,000 23,900 26,598 27,346 28,578 30,853 10,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: EGAT 41