#1AEGIS Investor Presentation FY 2023 AEGIS LOGISTICS LTD. May 2023#2Safe Harbour This presentation and the accompanying slides (the "Presentation"), which have been prepared by Aegis Logistics Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. 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INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 2#3Contents Vision & Mission Aegis at a Glance FY23 Highlights Robust Profits Growth Key Events Liquid Division Gas Division Sustainable Business Pillars Aegis Team Corporate Governance Diverse Business Relationships Key Joint Venture Partners Strategy Necklace of Terminals Integrated LPG Supply Chain Project GATI: Gateway Access to India Business Profile Gas Division Liquids Division Key Financial Data Consolidated Profit Statement Consolidated Balance Sheet Cash Flow Dividend Growth INVESTOR PRESENTATION: FY2023 5 7 16102 16 17 18 19 20 21 25 37 222 223 GE 23 24 26 34 38 39 40 41 PROPRIETARY & CONFIDENTIAL AEGIS 3#4Vision To support India's transition towards a more sustainable future. Mission To store and distribute bulk liquids and gases in a safe, sustainable manner. AEGIS 4 PROPRIETARY & CONFIDENTIAL INVESTOR PRESENTATION: FY2023#5Aegis at a Glance 1 Liquid Division Third Party Liquid Logistics (3PL) EPC Services Gas Division Third Party Gas Logistics (3PL) Gas Distribution Gas Sourcing INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 5#6AEGIS T 134 3000 KL AEGIS T135 3000KL N-P AEGI T130 10000KL FY23 Highlights AEGIS#7FY23: Robust Profit Growth LIQUIDS DIVISION New capacity from acquisitions, volume and revenue growth, and capacity expansion EARNINGS PER SHARE Rs. 13.19 29% GROWTH PROFIT BEFORE TAX Rs. 645 Cr. 37% GROWTH GAS DIVISION Record distribution volumes and growing gas logistics volumes EBITDA Rs. 804 Cr. 37% GROWTH PROFIT AFTER TAX Rs. 511 Cr. 33% GROWTH INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 7#8FY23: Robust Profit Growth Highest-ever EBITDA for Gas & Liquids Highest-ever PAT Highest-ever EPS DRIVEN BY Highest-ever LPG distribution volumes Highest-ever Logistics volumes Highest-ever Liquids revenue INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 8#9FY23: Key Events 1. Completed Aegis-Vopak Joint Venture 2. Executed important acquisition of 550,000 KL of Liquids capacity at Kandla port 3. Kandla LPG terminal fully operational 4. Entry into JNPT port with 110,000 KL Liquids Terminal as first step 5. Connection to LPG pipelines (KGPL and JLPL) secured for Pipavav & Kandla terminals 6. Haldia Liquids expansion completed 7. Additional LPG Pipelines installed at Jetties in Haldia and Mumbai 8. Pipavav LPG bottling plant completed 9. Largest Capex implementation in Aegis' history underway 10. Pipavav Jetty upgraded to handle VLGC's INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL Pipavav Jetty infrastructure upgrade AEGIS 9#10Business Performance Liquid Division AEGIS INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 10#11Liquids: Continued Growth 450 Revenue 400 350 300 ㅎ 250 Rs. 200 150 100 50 0 FY19 FY20 FY21 FY22 FY23 INVESTOR PRESENTATION: FY2023 300 418 Rs. in Cr. 250 200 150 100 50 EBIDTA* FY19 FY20 FY21 FY22 FY23 *Normalized EBITDA: before Forex, hedging-related expenses PROPRIETARY & CONFIDENTIAL 271 11 AEGIS#12Business Performance Gas Division AEGIS INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 12#13000 MT Volumes Exceed 3m Tons KANDLA HALDIA Kandla registers strong growth Haldia volumes normalised 3500 3000 2500 2000 1500 1000 500 0 in volumes AEGIS MUMBAI Mumbai continues to operate at full capacity with IOC, HPCL and BPCL all bringing in imports PIPAVAV The rail gantry at Pipavav continues to perform well, delivering considerable cost savings 3334 ||||| FY19 FY20 FY21 FY22 FY23 INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 13#14'000 MT LPG Distribution Drives Volume Growth 600 500 400 300 200 100 0 FY19 FY20 INVESTOR PRESENTATION: FY2023 FY21 PROPRIETARY & CONFIDENTIAL 209% YOY 494 FY22 FY23 AEGIS 14#15Rs. in Cr Record Gas Division EBITDA* 600 500 400 300 200 100 0 FY19 FY20 INVESTOR PRESENTATION: FY2023 FY21 PROPRIETARY & CONFIDENTIAL FY22 532 *Normalised EBITDA Before Forex, Hedging Related Expenses FY23 AEGIS 15#16STOP AUTHORIZED VEHICLES ONLY AEGIS Sustainable Business Pillars AEGIS#17Aegis Team MANAGEMENT TEAM EXPERIENCED & ENGAGED BOARD Raj K. Chandaria Chairman & Managing Director Sudhir Malhotra Chief Executive Officer Murad Moledina Chief Financial Officer K.S. Sawant President, Operations & Projects Rajiv Chohan President, Business Development Keshav Shenoy President, Strategic Planning Deepak Dalvi Jt. President & AVTL Director Lars Schaumann Chief Operating Officer, AVTL Marina Surzhenko Director, AVTL Samantha Xu Director, AVTL Wilfred Lim Director, AVTL Tatsuya Tanaka Director, HALPG Raj K. Chandaria R.K. Singh Tasneem Ali Anil M. Chandaria Rahul D. Asthana Kanwaljit Nagpal Amal R. Chandaria Jaideep D. Khimasia Lars Erik Johansson INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 17#18Corporate Governance Separate Chairman and CEO 5 out 9 Directors are Independent 8 out of 9 Directors are Non-Executive Board members have relevant industry experience (oil & gas, chemicals, ports, branding) Subsidiary Boards have experienced board members from JV partners, Vopak, and Itochu INVESTOR PRESENTATION: FY2023 AEGIS PROPRIETARY & CONFIDENTIAL 18#19Diverse Business Relationships इंडियन ऑयल IndianOil हिन्दुस्तान पेट्रोलियम HP Reliance Industries Limited Bharat Petroleum PIAGGIO TOTAL Godrej | CONSUMER PRODUCTS thyssenkrupp Shell AEGIS JUPITER DYECHEM End to end chemical solutions JINDAL STEEL & POWER SPL ✓ vinmar SHV NAYARA Hindustan Unilever Limited ENERGY The brand names mentioned are the property of their respective owners and are used here for identification purpose only INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL Phillips Carbon Black Limited 19#20Key Joint Venture Partners INVESTOR PRESENTATION: FY2023 བ ITOCHU Global knowledge of gas sourcing and shipping Experienced board members on Subsidiary Boards Vopak Additional management bandwidth Technical expertise on new products Global customer relationships PROPRIETARY & CONFIDENTIAL AEGIS 20#21AEGIS T-315 1320WL AEGIS T-313 1520 AL Strategy T-315 1320 KL T-313 1320 KL AEGIS#22Necklace of Terminals Build, own, and operate India's leading network of tank terminals and distribution facilities, incorporating the highest safety and environmental standards. AEGIS Kandla Pipavav Mumbai Liquid Terminals Gas Terminals ✓ Mangalore ✓ Under construction Kochi Haldia JNPT INVESTOR PRESENTATION: FY2023 Under construction Kandla PROPRIETARY & CONFIDENTIAL Pipavav Mumbai JNPT Mangalore Kochi Haldia 22#23Integrated LPG Supply Chain Our integrated logistics services include sourcing, storing, moving, and distributing products. AEGIS AEGIS LPG Sourcing LPG Sourcing JV with Itochu in Singapore Strategic Port Location Key gateway ports: Mumbai, Haldia, Pipavav, and Kandla Storage Terminals Refrigerated gas terminal in Mumbai, Haldia and Kandla, and pressurised gas terminal in Pipavav Pipelines & Rail Connectivity Pipelines, road, and rail connectivity Autogas, Commercial & Industrial Distribution Network of 142 Autogas stations in 10 states, and 290 LPG distributors across 140 cities in 15 states INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 23#24Project GATI: Gateway Access to India Capital Investment programme of INR 4,500 Cr under "Joint Business Plan" with JV partner Royal Vopak, to be implemented from 2023-2027 AEGIS 01 02 03 04 Greenfield Expansion Brownfield Expansion Mergers & Acquisitions New Energy INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 05 Big Ticket Projects 24#25TIM 3666 15015 1137 333 1136 AEGIS Business Profile#26Profile Gas Division AEGIS INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 26#27'000 MT Consumption of LPG in India 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000- 2001 AEGIS 31,000 2022- 2023 Source: PPAC/IOC and Management Estimates INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 27#28Production & Imports of LPG in India IW 000, 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 2000- 2001 AEGIS 18,500 12,800 2022- 2023 Production Imports Source: PPAC/IOC and Management Estimates 28 INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL#29Million Metric Tons Ꮎ 10 2010-11 20 20 30 40 40 Need for Terminal Capacity 50 Domestic Supply Base Case Demand High Growth Scenario 60 2011-12 2012-13 2013-14 2014-15 INVESTOR PRESENTATION: FY2023 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 12.8 31 Imports: 18.5 (est) 2023-24 2024-25 PROPRIETARY & CONFIDENTIAL 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 2033-34 Imports: 25 Imports: 38 2034-35 Source: PPAC/IOC and Management Estimates 29 AEGIS#30Pipavav & Kandla Connected to Kandla-Gorakhpur IHB consortium building Kandla-Gorakhpur LPG Pipeline 2800 km long 8.25 million tons capacity Pipavav allocation is 1.5 million tons Phase 1 commission in H2 of 2024 Pump house and manifold located inside Pipavav terminal Mithi Rohar Kandla Viramgram Jhansi Kanpur Lucknow OGorakhpur Unnao Allahabad Varanasi Bina Refinery Gandhinagar Ujjain Bhopal 8Ah Ahmedabad IPS Indore Koyali Refinery Dahej Pipavav INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 30#31LPG Terminalling Capacity IW 000, 140 120 100 80 60 40 40 20 Static 12,000 115 10,000 0 FY17 FY18 FY19 FY20 FY21 FY22 FY23 INVESTOR PRESENTATION: FY2023 '000 MT 8,000 6,000 4,000 2,000 PROPRIETARY & CONFIDENTIAL Throughput AEGIS 9,600 0 FY17 FY18 FY19 FY20 FY21 FY22 FY23 31#32LPG Throughput Capacity by Port INVESTOR PRESENTATION: FY2023 4000 1500 2500 '000 MT 1600 ■ Mumbai Pipavav ■ Haldia ■ Kandla PROPRIETARY & CONFIDENTIAL AEGIS 32#33LPG Distribution System We have a national network of LPG terminals and cylinder filling plants serving these segments. AEGIS 圆圆圆 Autogas 142 stations over 10 states dispensing autogas, petrol, and diesel, growing to a planned 200 stations over 20 states INVESTOR PRESENTATION: FY2023 AEGIS Commercial Expansion into a national distribution network for hotels, restaurants, and industry under Aegis Puregas & Magna brands Domestic Tier 1, 2 & 3 urban cities with distributors and POS under Aegis Chota Cikander 2kg, 4kg, 12kg & 19kg products, supplied from a network of LPG bottling plants Industrial Serving industrial clusters with reliable supply from our four LPG terminals PROPRIETARY & CONFIDENTIAL 33#34Profile Liquids Division AEGIS INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 34#35Growing Liquids Footprint 1. New capacity expansion at Haldia commissioned 2. New 110,000 KL liquids terminal expansion at JNPT (expected commissioning mid-2024) 3. Additional Liquids capacity at Mangalore, Kochi, and JNPT under construction 4. M&A opportunities AEGIS T-319 to AEGIS T-320 AEGIS INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 35#36Terminal Capabilities & Capacities Provides import, export, storage, and logistics services, handling Class A, B, and C products, chemicals, POL products and vegetable oils Tanks includes MS, SS, Epoxy Coated, IFR 75 273 ■Mumbai ■ Kochi AEGIS Heated and cooled tanks Connected to Jetty via MS and SS Pipelines INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 890 120 '000 MT 71 ■ Haldia 174 ■ Pipavav ■ Kandla ■Mangalore 36#37NO MOKIN AEGIS Key Financial Data#38Consolidated Profit Statement Rs. in Cr. Revenue Cost of Sales Others FY23 FY22 YOY% 8627 4631 86% 7581 3882 242 163 804 586 37% Normalised EBITDA (Segment)* Finance, Hedging & Forex-related Expenses (Net) 45 -3 Depreciation Unallocated Expenses Profit Before Tax Tax Profit After Tax EPS 124 78 -9 39 645 472 37% 134 87 511 385 33% 13.19 10.19 INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS *Normalised EBITDA - Before Forex, Hedging-Related Expenses 38#39AEGIS Consolidated Balance Sheet Assets (Rs. In Cr.) Non-Current Assets Property, Plant and Equipment Capital Work in Progress Other Intangible Assets Goodwill Financial Assets Investments FY23 FY22 Equities & Liabilities (Rs. In Cr.) Equity FY23 FY22 3,645 412 2,374 Equity Share Capital 253 Other Equity Equity Attributable to Owners 1 1 Non-Controlling Interest 15 1 35 35 3,497 2,145 3,532 2,180 515 83 4,047 2,262 I Total Equity Liabilities Non-Current Liabilities Financial Liabilities Borrowings Loan to Employees 978 64 Other Financial Assets 17 19 Lease Liabilities 854 413 Current Tax Assets (Net) 24 36 Other Financial Liabilities 45 39 Deferred Tax Assets (Net) 174 76 Provisions 11 15 Other Non-Current Asset 116 93 Deferred Tax Liabilities (Net) 93 73 Total Non-Current Assets 4,404 2,851 3 Other Non-Current liabilities 2 1 Current Assets Inventories 147 91 Total Non-Current Liabilities 1,983 605 Current Liabilities Financial Assets Financial Liabilities Investments Trade Receivables 204 Borrowings 17 318 839 738 Lease Liabilities 75 40 Cash and Cash Equivalents 833 94 Trade Payables 871 675 Bank Balance Other Than Above 433 56 Other Financial Liabilities 65 41 Other Financial Assets 178 41 Other Current Liabilities 64 39 Provisions 10 5 Other Current Assets Total Current Assets 125 164 Current Tax Liabilities (Net) 31 49 2,759 1,183 Total Current Liabilities 1,133 1,167 Total Assets 7,163 4,034 Total Equities & Liabilities 7,163 4,034 INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL 39#40Cash Flow Rs. In Cr. Profit Before Tax FY23 FY22 645 472 Operating Profit Before Working Capital Changes 682 545 Net Cash Inflow from Operating Activities (A) 358 263 Net Cash Inflow/(Outflow) from Investing Activities (B) -931 -162 Net Cash Outflow from Financing Activities (C) 1311 -304 Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C) 738 -203 Cash and Cash Equivalents at the Beginning of Year 94 297 Cash and Cash Equivalents at the End of Year INVESTOR PRESENTATION: FY2023 833 94 PROPRIETARY & CONFIDENTIAL AEGIS 40#41Rs. per Share Dividend Growth 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 FY19 FY20 INVESTOR PRESENTATION: FY2023 5.75 FY21 FY22 FY23 PROPRIETARY & CONFIDENTIAL AEGIS 41#42Thank You AEGIS Aegis Logistics Limited CIN: L63090GJ1956PLC001032 Mr. Murad Moledina, CFO [email protected] σ orient capital Orient Capital Ms. Payal Dave +91 9819916314 [email protected] Ms. Rasika Sawant +91 9594457518 [email protected] INVESTOR PRESENTATION: FY2023 PROPRIETARY & CONFIDENTIAL AEGIS 42