#1CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Stock Code: 2612 TT Investor Presentation By: Ban-Jen Tarng Spokesperson 30th March 2022 COCL OCCL#2Summary of Presentation ➤ Capesize Market Outlook ➤ Dry Bulk Shipping Market Trends ➤ The Company Overview ➤ Appendices RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 1#3Outlook CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. CIPA CON TS LINES CMA COM TLUME#4Capesize Market Outlook Freight Rates Under Pressure but Outlook is Promising > 5TC average reached lowest level since 2020 at US$ 5,826 in January; spot rate averaged US$ 14,793 in Q1 2022 ➤ Iron ore price averaged US$ 140/ton in Q1 2022 amid expectations of rising demand and increased steel production in PRC War Between Russia and Ukraine Reshaped Commodity Market The commodity prices skyrocketed since the invasion and seaborne dry bulk trades are also being interrupted ➤ Market continues to monitor the latest development closely as Black Sea is a key region for global oil and dry bulk exports Net Fleet Growth Eases in 2022 ➤ 14 new ships (100k-400k dwt) joined the fleet so far in 2022, while demolition is set to continue in coming years ➤ Capesize net fleet growth is 0.55% between January and March 2022 Short-term Outlook ➤ PRC steel production has been contracted in last two quarters but favorable trade and fiscal policies are expected to stimulate the economy ➤ Despite tension in the Black Sea and the pandemic, FFA rates are still in contango which should provide support to period rates in near term CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. 中華榮 葉 CHINA PRIDE Mar/2022 Investor Presentation 3#5华先華中 CHINA PIONEER Focal Points of Q2 2022 RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. War Between Russia and Ukraine 1 2 3 4 Russia's invasion to Ukraine has escalated tension in the region and triggered excessive movement in commodity prices and disruption within the supply chain Global Demand for Coal International coal prices soared after Russia's military invasion therefore in order to expand its sources of raw materials, Europe has turned to other countries such as Australia and Indonesia to import coal PRC Covid-19 Fallout The government has set target to cap steel production dampening demand for iron ore but market should stabilize post Winter Olympics except new waves of Omicron may restrict production and transportation of steel Chain Effect of All Ship Types Due to more long haul shipments and PRC' s demand for raw material, market anticipates tighter tonnage balance in all dry bulk ship sectors Mar/2022 Investor Presentation 4#6PRC Key Economy Indicators PRC's gross domestic product in 2021 reached about 17.7 trillion U.S. dollars or equivalent to growth of 8.1% y-o-y. The full year target for 2022 is around 5.5% PRC's crude steel production between January and February reached 157 million tons, down by 10.0% y-o-y; the country exported about 8 million tons of steel products between January and February, down by 18.8% y-o-y China Steel Price Index (CSPI) soared by 5.9% in end-February to 137.56 points The country imported 181 million tons of iron ore between January and February, similar level to the same period last year, while coal imports reached 35 million tons, down by about 14.0% y-o-y RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 5#7• • • • • PRC Shifts Prime Focus to GDP Growth PRC has set the tone to gradually reach carbon emission peak by 2030 instead of attain the emission target at once The country is facing pressure to grow its economy hence it will relax its carbon peaking initiative for all sectors including steel production Market expects PRC to ease fiscal policies including reduction of interest rate and banks' reserve ratio in order to avoid an economic slowdown Major cities' housing prices have stabilized showing better prospects in real estate and demand for steel China targets GDP growth of 5.5% likely through monetary stimulus and allocation of central expenditures for major infrastructure projects CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 6#8Russia & Ukraine Conflicts Affecting Global Seaborne Trades * Top Russian Coal Export Flows Cargo Group Cargo Type Russian Exports, mt Russian Exports, % Ukrainian Exports, mt global Ukrainian Exports, % global 2021 mt % of Russian Exports Russian % of Imports 1 China 38.9 23% 14% Iron Ore 6 0.4% 17 1.1% 2 EU27+UK 33.9 20% 39% Coal* 166 13.4% 3 Japan 21.8 13% 12% Dry Bulk Grain 36 6.9% 49 9.5% 4 Korea 20.0 12% 17% Minor Bulk 111 5.3% 25 1.2% 5 Turkey 13.3 8% 16% Total Dry Bulk 319 5.9% 92 1.7% 45% 40% Crude Oil 158 8.6% 0.1 0.0% 35% Oil 10 Oil Products 110 11.0% <0.05 0.0% 30% 25% Total Oil 269 9.5% 0.1 0.0% 20% Chemicals Chemicals 9 2.6% 5 1.5% 15% 10% LNG Gas LPG Ammonia 29 29 7.7% 5% 0% 0.4 0.4% 0.01 0.01% China EU27+UK Japan Korea Turkey 3 18.3% 0.5 3.5% ■% of Russian Exports Russian % of Imports Source: Clarksons Platou ☆CMT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 7#9Shipping Market Outlook - Demand Iron Ore Coal Clarksons Platou forecasts Chinese iron ore imports to drop by 1% in 2022 while Brazilian export volume is expected to raise by 3% and Australian export volume increases by 1%; global iron ore demand is projected to grow by 1% in 2022 CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Clarksons Platou forecasts Chinese coal imports to drop by 12% in 2022 while Australian export volume is expected to raise by 4% and Indonesian export volume drop by 1%; global coal demand is projected to grow by 2% in 2022 Mar/2022 Investor Presentation 8#10Shipping Market Outlook - Supply Newbuildings Ship Scrapping According to IHS Markit, total 88 newbuildings (100-400k DWT) were delivered in 2021 with fleet net growth at 4%; 66 large bulkers (100-400k dwt) are expected to be delivered in 2022 Demolition quantity of large bulkers (100-400k DWT) reached 14 in 2021 while more vintage bulkers are to be recycled this year - 25 units are expected to be scrapped in 2022 RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 6#11Dry Bulk Shipping Market Trends CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. CIPA CON TS LINES CMA COM TLUME#12BDI Avg. Year 2020 1,066 4950 Year 2021 2,943 Jan-Mar 2022 2,016 14/Mar/2022 3950 26/Jan/2022 BDI: 2,727 BDI: 1,296 10/Feb/2021 2950 BDI: 1,303 1950 950 BDI 2020-2022 Baltic Exchange Dry Index 14/May/2020 BDI: 393 6/Oct/2020 BDI: 2,097 7/Oct/2021 BDI: 5,650 -50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 BDI 2021 BDI 2022 BDI Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 11#1311200 5TC Avg. BCI Avg. Year 2020 13,070 1.450 Year 2021 33,333 4,019 9200 Jan Mar 2022 14,793 1,784 15/Mar/2022 BCI: 2,823 7200 26/Jan/2022 BCI:702 5200 3200 1200 12/Feb/2021 BCI:1,242 9/Mar/2020 BCI: -372 BCI 2020-2022 Baltic Exchange Capesize Index 3/Jul/2020 BCI: 4,440 7/Oct/2021 BCI: 10,485 -800 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 BCI 2021 BCI 2022 BCI Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 12#1490,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 2020-2022 BCI/BPI/BSI/BHSI Indices Spot TCE (US$) Supra/Ultramax 10TC (58K) 2022/3/25 US$33,217 Handysize 7TC (38K) 2022/3/25 US$32,082 Kamsarmax 5TC (82K) 2022/3/25 US$30,713 Capesize 5TC (180K) 2022/3/25 US$15,648 0 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 Source: Clarksons Platou Capesize 5TC (180K) Kamsarmax 5TC (82K) CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Supra/Ultramax 10TC (58K) Handysize 7TC (38K) Mar/2022 Investor Presentation 13#1514 ☐ ☐ 12 12.5 10 8 Global Economy Recovers from 2020 IMF projects global GDP to grow by 4.4% in 2022 Clarksons Platou forecasts dry bulk seaborne trade to increase by 1.9% in 2022 6 5.4 6.3 5.8 5.8 5.6 5.9 4.3 4.4 3.5 3.5 3.5 3.8 4 3.8 4 3.4 3.3 3.5 2.7 2.8 2 1.4 0.2 0.5 1.9 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022(f) -2 -1.6 -4 -3.1 ■Global GDP Growth (%) Dry Bulk Trade Growth (%) Source: IMF & Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 14#16Dry Bulk Seaborne Trade Expects to Grow by 1.9% Million Tons Cape Focus Iron Ore 1,530 0.9% 1.8% Coal 1,253 Bauxite 150 Capesize focus cargoes total 2,933 YOY 1.5% Grain 542 3.6% Forest Products 397 2.8% Steel Products 401 2.3% Fertilizer 191 1.1% Agribulks 178 0.0% Cement 151 0.0% Scrap 101 Petroleum Coke 70 3.1% 1.4% Sugar 63 -1.6% Salt 53 Nickel Ore 58 Source: Clarksons Platou Manganese Ore 48 Others 281 2022(E) Total Dry Bulk 5,467 CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. 0.0% 3.6% 4.3% 4.1% 1.9% 5.6% Mar/2022 Investor Presentation 15#17Dry Bulk Seaborne Trade vs Fleet Growth Dry bulk seaborne trade vs fleet growth estimates Year-on-year growth 6% 5% 4% 4.0% 3.5% oo ou ola do 2020 2021f 2022-24 CAGR 2.1% p.a. 2.2% 2.3% 1.9% 4.7% 2022-24 CAGR 2.3% p.a. 2.8% 2.4% 1.6% -1.0% 2022f 2023f 2024f 2020 2021f 2022f 2023f 2024f Fleet growth Trade growth Source: Arrow CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 16#18Global Iron Ore/Coal Exports Clarksons Platou forecasts global iron ore exports to increase by 1% while coal exports to increase by 2% in 2022 Iron Ore Coal Million Tons Million Tons 1600 1502 1517. 1530 1600 1456 1400 1400 1284 1238 1253 1165 1200 1200 1000 836 867 874 884 1000 800 800 600 600 457 348 340 358 369 383 360404 433 428 359 375 400 400 200 200 0 2019 2020 2021 2022(f) Brazil Australia Total 2019 2020 2021 2022(f) Australia ■Indonesia ■Total Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 17#19Vale' s Iron Ore Production Outlook Capacity (Mtpy) Vale Day Vale Day End of Medium Long 2020 2021 2022 term term Main deliveries in 2022 Capacity Quality Northern 206 203 205 215 240-260 Brucutu/Itabira: tailings System 1Q22 filtration plants start-up Southeastern 1H22 61 70 93 113 110-120 S11D: jaspilite crushers installation System 2H22 S11D: Project +10 Mtpy ☑ Southern 51 65 69 69 69 70-85 System 2H22 Serra Norte: Gelado project Midwestern 2 3 3 0 3 4Q22 Brucutu: Torto dam start-up System 4Q22 Itabira: Itabiruçu dam raising and new tailing stockpile 320 341 370 400 400-450 VALE Source: Vale CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 18#20240 220 200 180 160 140 120 100 80 60 60 Iron Ore Price Trend February 2011 US$ 193.00/MT May 2021 US$ 233.10/MT 40 20 62% FE CFR China, US$/MT 0 Jan-11 Jan-12 Jan-13 December 2015 US$ 37.00/MT November 2021 US$ 87.20/MT Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Source: SSY CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 19#21250 50 50 62% FE CFR China, US$/mt 100 150 200 0 1-Jan-2021 1-Mar-2021 PRC Crude Steel Price 7500 6700 5900 5100 4300 3500 1-May-2021 1-Jul-2021 1-Sep-2021 1-Nov-2021 1-Jan-2022 1-Mar-2022 62% FE CFR China, US$/mt Hot Roll Steel Plate (SPHC), RMB/mt Source: SSY & Marco Micro CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Hot Roll Steel Plate (SPHC), RMB/mt Mar/2022 Investor Presentation 20 20#22Production (Mt) 200 150 100 50 0 Global Steel Production PRC' s y-o-y growth rate in 2021: -3.0%; Full year y-o-y projection for 2022: +0.0% Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 April-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 China (%) Dec-21 Jan-22 World ROW China World (%) ROW (%) Source: World Steel Association CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. 0 80 40 -40 -80 Mar/2022 Investor Presentation Growth (%y-on-y) 21 21#23500 美元/噸 400 300 200 100 0 2018 ICE-Newcastle (L) Source: MarcoMicro RCMT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Global Coal Price 8K MacroMicro 6.4K 4.8K 3.2K 1.6K 0 2019 2020 2021 2022 ICE-Rotterdam (L) - 中國-動力煤期貨 (R) - 中國-焦煤期貨 (R) 人民幣/噸 Mar/2022 Investor Presentation 22 22#24PRC Commodity Imports PRC's demand for iron ore is estimated to decrease by 1% in 2022 to 1.09 billion tons PRC's demand for coal imports is projected to decrease by 12% in 2022 to 250 million tons 25% 20% Iron Ore Million Tons 1400 Coal Million Tons 300 78% 1200 76% 250 1000 800 74% 200 72% 150 600 70% 100 400 68% 50 200 66% 0 64% 0 2015 2016 2017 2018 2019 2020 2021 2022(f) 2015 2016 2017 2018 2019 2020 2021 2022(f) Chinese Iron Ore Import % of global imports Chinese Coal Import- % of global imports Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. 15% 10% 5% 0% Mar/2022 Investor Presentation 23 23#25Million Tons 120 110 PRC Iron Ore Imports 100 90 80 70 60 50 40 30 20 10 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2021 Source: Thurlestone Research CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 24 24#26100 Jan 19 Mar 19 Source: Drewry Maritime Research CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. May 19 Jul 19 113 Sep 19 Nov 19 Jan 20 126 Mar 20 Million tonnes May 20 Jul 20 Sep 20 139 Nov 20 Jan 21 Mar 21 Mar/2022 Investor Presentation 25 25 May 21 152 Jul 21 Sep 21 Nov 21 165 Iron Ore Stockpiles at PRC Ports#27Million Tons 350 300 250 200 150 100 50 PRC Coal Imports 0 Australia Indonesia Russia Source: PRC Customs CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mongolia Philippines All origins 2019 2020 2021 Mar/2022 Investor Presentation 26#28Bulker Newbuilding Orders are Shrinking Capesize Orderbook Dry Bulk New Ship Ordering No. 140 % of Fleet (DWT) 100% -91%- 120 80% 100 62% 60% 80 60 37% 40% 40 20% 20 24% 21% 17% 18% --13% 14% 16% 14% 8% 7% 7% 0 0% Delivered in Remaining Q1 2022 2022 2022 2023 2024 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jan 2022 Capesize Ordering (100,000 + dwt) Total Bulk Fleet Ordering JAN 2022 ORDERBOOK AS % AVERAGE AGE OVER 20 YEARS OLD SCRAPPING AS % OF EXISTING FLEET OF EXISTING FLEET Handysize 5% 12.4 13% 0.00% (10,000 40,000 dwt) Handymax (incl. Supramax & Ultramax) 6% 10.7 9% 0.00% (40,000 - 65,000 dwt) Panamax (incl, Kamsarmax) 8% 10.9 12% 0.00% (65,000 100,000 dwt) Capesize 7% 9.2 2% 0.00% (100,000+ dwt) Total Dry Bulk > 10,000 dwt 7% 11.0 7% 0.00% Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 27 27#29m. DWT 30 50 25 25 20 20 15 10 Capesize Fleet Growth Decelerates Capesize Supply Development 0 -5 -10 -15 2017 2018 2019 Scrapping New Deliveries Source: Clarksons Platou CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. 2020 6.00% 19.00 5.00% 4.32% 4.00% 3.00% 2.00% 2.93 1.00% 0.55% 0.00% 0.85 -1.00% 3.40 -2.00% -3.00% 2021 Q1 2022 Net Fleet Growth Mar/2022 Investor Presentation 28#30Newbuilding/2nd Hand Sale Prices TYPE PRICE (IN US$ MILLION) YEAR 2020 2021 MAR 2022 208,000 DWT NB 52.0 67.0 29% 67.5 1% 180,000 DWT NB 46.5 60.5 30% 61.0 1% 180,000 DWT (ECO) 5-YR 35.5 47.0 32% 47.0 0% 180,000 DWT 10-YR 19.5 33.0 69% 31.5 -5% 176,000 DWT 15-YR 12.8 21.0 64% 20.5 -2% Source: Clarksons Platou & Internal Assessment CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 29#31The Company Overview CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. CIPA CON TS LINES CMA COM TLUME#32SHIPPING TRUCKING CHINA FORTUNE Company Profile COC. AIR TERMINALS & 48 2-46 TOURISM ARABIAN CARGO U Shipping: CMT owns and manages a fleet of 10 capesize bulkers to offer dedicated services to customers for transportation of dry bulk commodities around the globe Trucking Associated Transport Inc. is one of Taiwan' s largest intermodal container trucking operators that provides container drayage and related services island-wide Terminals: CMT Logistics Co., Ltd. operates two containers terminals in northern Taiwan with great access the country' s major ports to offer import/export express services to customers Air & Tourism : CMT Air Cargo Department is the General Sales Agent (GSA) of Saudi Arabian Airlines in Taiwan CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 31#33CMT Capesize Fleet China Peace 中華和平輪 174,413 DWT China Progress China Pride China Triumph China Prosperity China Pioneer China Fortune 中華富進輪 174,322 DWT 中華榮耀輪 177,856 DWT 中華光輝輪 203,028 DWT 中華鴻運輪 203,028 DWT 中華先鋒輪 中華偉運輪 206,079 DWT 206,061 DWT I 2005 2006 2009 2011 2012 2012 2013 2024 2024 2023 2023 2017 2017 2016 CSIC CSIC CSIC CSIC 青岛北海船舶重工有限责任公司 青岛北海船舶重工有限责任公司 青岛北海船舶重工有限责任公司 青岛北海船舶重工有限责任公司 QINGDAO BEIHAI SHIPBUILDING HEAVY INDUSTRY CO.LTD QINGDAO BEIHAI SHIPBUILDING HEAVY INDUSTRY CO.,LTD QINGDAO BEIHAI SHIPBUILDING HEAVY INDUSTRY CO.LTD QINGDAO BEIHAI SHIPBUILDING HEAVY INDUSTRY CO.LTD Newbuilding Newbuilding Newbuilding Newbuilding 210,000 DWT 210,000 DWT 210,000 DWT 210,000 DWT RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. CHILL H China Honour 中華名望輪 179,562 DWT China Enterprise China Harmony 中華偉業輪 中華和諧輪 207,986 DWT 179,505 DWT Mar/2022 Investor Presentation 32#34Entities Revenue Ratio for 2021 49% Trucking and Terminals RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. 50% Shipping Agency and Travel 1% Mar/2022 Investor Presentation 33#352017-2021 Financial Highlights Expressed in millions of New Taiwan Dollars Year 2017 2018 2019 2020 2021 Revenue 3,218 3,820 3,763 3,132 3,554 Net Profit/(Loss) 98 514 324 320 1,031 EPS 0.50 2.60 1.64 1.67 5.27 Cash and cash 2,940 3,345 3,288 3,221 3,057 equivalents Total liabilities 10,652 10,237 10,022 9,735 8,650 Total equity 9,427 10,187 9,934 9,750 10,428 ROE % 1.0% 5.2% 3.2% 3.3% 10.3% ROA % Liability % 1.3% 3.5% 2.5% 2.3% 5.8% 53% 50% 50% 50% 45% RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 34 ==#36Dividends Distribution Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 * Cash dividends/ Capital 1.00 1.50 1.30 2.50 0.50 0.50 1.60 0.80 Reduction (NT$) 1.60 2.68 EPS (NT$) 2.23 1.55 1.30 1.30 0.21 0.50 2.60 1.64 1.67 5.27 3.50 3.00 2.50 2.00 238% 192% 2.30* 97% 100% 1.50 45% 1.50 1.00 1.30 1.00 0.50 250% 200% 2.68 150% 1.60 1.60 96% 100% 100% 62% 51% 50% 49% 0.80 0.50 0.50 0.00 T 0.20 2012 2013 2014 2015 2016 2017 2018 2019 0% 2020 2021 Cash Dividend Capital Reduction Dividend Payout Ratio *Cash dividend NT$ 0.20 plus capital reduction NT$2.30 = NT$2.50 RCMT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 35#37Appendix 1: Condensed Balance Sheet Assets Current assets Property, plant and equipment Intangible assets Other non current assets Total assets Liabilities and Equity Current liabilities Non Current liabilities Total liabilities Expressed in millions of New Taiwan Dollars Dec 31, 2021 4,409 12,261 8 2,400 19,078 Dec 31, 2020 5,152 12,108 10 2,273 19,543 3,221 3,506 5,429 6,229 8,650 9,735 Equity attributable to owners of parent Common stock 1,975 1,975 Capital surplus 53 53 Retained earnings Other equity interest 9,317 8,606 (935) (884) Non-controlling interests Total equity 18 58 10,428 Total liabilities and equity 19,078 9,808 19,543 RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 36#38Appendix 2: Condensed Statement of Comprehensive Income Expressed in thousands of New Taiwan Dollars 2021 2020 Operating Revenues Operating costs Gross profit Operating expenses 3,553,782 3,132,376 2,779,417 2,584,845 774,365 547,531 420,378 388,998 Net operating income 353,987 158,533 Non operating income and expenses 759,013 184,858 Profit before tax 1,113,000 343,391 Less: tax expenses 81,992 23,003 Profit 1,031,008 320,388 Other comprehensive income, net (61,552) (355,480) Comprehensive income 969,456 (35,092) Earnings per share 5.27 1.67 RCIT 中国航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 37#39Tranche Amount (NT$ 100M) Tenor Appendix 3: Corporate Bonds Issuance 2017 2020-1 2020-2 8 15 10 5 Years 5 Years 5 Years Due Date 10-Apr-2022* 28-Aug-2025 28-Aug-2025 Interest Rate 1.13% 0.64% 0.66% Interest Payment Annually Annually Annually Guarantee Bank Shanghai Commercial Bank Mega Bank Shanghai Commercial Bank * Amount of NTD 400 million was repaid in APR 2020 CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 38#40Disclaimer The information and opinions in this report were prepared by CMT. Though the information herein is believed to be reliable and has been obtained from market sources believed to be reliable, CMT makes no representation as to its accuracy or completeness. The material and the information contained herein are provided for general information purposes, and may not be reproduced without the written permission of CMT. CMT shall not be liable to the recipient or any third party for any loss, liability or damage, cost or expense including without limitation, direct, indirect, consequential loss or damage, any loss of profit, loss of use, loss of or interruption in business, loss of goodwill, loss of data arising out of, or in connection with, the use of and the reliance on the information whether in contract, tort, negligence, bailment, breach of statutory duty or otherwise, even if foreseeable. This disclaimer shall be governed by and construed in accordance with Laws of Taiwan, R.O.C. We undertake no obligation to publicly update or revise any forward looking statement contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. In light of the risks, uncertainties and assumptions, the forward looking events discussed in this presentation might not occur, and our actual results could differ materially from those anticipated in these forward-looking statements. Contact Information Web Site: www.cmt.tw Head Office: 15 Jinan Road Sect 1 Taipei Taiwan R.O.C. Tel:+886(0)2 2396 3282 Fax:+886(0)2 2391 6165 Investor Relations: Spokesperson: BJ Tarng, Vice President Tel: +886(0)2 2397 6670 Fax: +886(0)2 2356 8085 Email: [email protected] CHT 中國航運股份有限公司 Chinese Maritime Transport Ltd. Mar/2022 Investor Presentation 39#41APT CHT Thank You! CMT