#1Aegis Logistics Limited "Positioned for growth" Investor Presentation AEGIS T130 10000KL ་་་་། June 2020 AEGIS#2Safe Harbour AEGIS 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. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company's future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. 2#3We are leading provider of logistics and supply chain services to India's oil, gas and chemical industry Strategic port locations Storage terminals Rail connectivity FSABE DEPOT AWINST AEGES Pipelines AEGIS 3#4Vision and Corporate Strategy Why we exist To provide integrated logistics services to the Indian oil, gas and chemicals industry by storing, moving and distributing products to our customers How By building an unrivalled national network of port-based oil and gas storage terminals, inland depots and retail outlets Our current divisions Liquefied Petroleum Gas (LPG) Liquid Terminals (petroleum, petrochemicals and chemicals) AEGIS T136 AEGIS 4#5Unique Infrastructure AEGIS Liquids Terminals at key ports- Mumbai, Kochi, Haldia, Pipavav, Kandla & Mangalore ◉ Jetty Pipelines Multiple tank sizes Coated, Stainless Steel and Heated tanks ◉ ☐ Road and Pipeline connectivity ◉ LPG Refrigerated Gas Terminal in Mumbai and Haldia Pressurized Gas Terminal in Pipavav New Refrigerated Gas Terminal in Kandla under-construction Pipeline, Rail and Road connectivity Network of 115 Autogas stations in 7 states Network of 164 LPG distributors across 55 cities in 9 states LPG Sourcing JV with Itochu in Singapore Integrated Supply Chain Management services 5#6Record Performance Continues Rs. In Cr Revenue 5,616 +28% 7,183 Normalized EBITDA* 412 +37% 563 Normalized PBT^ 302 +48% 446 FY19 FY20 FY19 FY20 FY19 FY20 * Normalized EBITDA - Before Forex, Hedging Related Expenses ^ - Normalized PBT - Before Expenses as per Employee Stock Purchase Plan AEGIS 6#7Haldia Port Expansion of Liquid Capacity - Capacity ■ 12,000 KL Liquid Division Project Cost ■ Rs 10 crs Financing ■ Internal Accruals Project Completion Date ■ FY21 On-Schedule AEGIS West Bengal Haldia Liquid Capacity at Haldia '000 KL 120 12 Existing Expansion 132 Total Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 7#8- Kochi Port Expansion of Liquid Capacity Capacity ■ 20,000 KL Liquid Division Project Cost ■ Rs 15 crs Financing ■ Internal Accruals Project Completion Date ■ FY21 On-Schedule Kochi Kerala Liquid Capacity at Kochi 71 '000 KL 20 51 20 Existing Expansion Total AEGIS Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 8#9Mangalore Port - Expansion of Liquid Capacity Capacity ■ 50,000 KL Liquid Division Project Cost ■ Rs 35 crs Financing ■ Internal Accruals Project Completion Date ■ FY21 On-Schedule '000 KL 25 Mangalore Karnataka Liquid Capacity at Mangalore Existing 50 50 Expansion 75 Total Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness AEGIS 9#10Kandla Port New LPG Project - Gas Division Static Capacity ■ 45,000 MT - 2 Fully Refrigerated Tanks of 22,500 MT each Throughput Capacity ■ 4,000,000 MT at full utilization AEGIS On-Schedule Pipeline grid at Kandla Port ■ JLPL Pipeline and proposed KGPL line Project Completion Date ■ FY21 Project Cost ■ Rs 350 crs Financing Options ■ Internal Accruals & Debt 10 10#11Pipavav Port Brownfield Capacity Expansion for LPG ✓ Static Capacity Existing: 18,300 MT ■ Additional: 3,800 MT - ✓ Railway Gantry for LPG ■ Agreement with Port reached ■To be commissioned by Q3FY21 Throughput Capacity at full utilization Pipavav Gujarat ■ Existing: ~14,00,000 MT ■ Additional: ~2,00,000 MT Project Cost ■ Rs 75 crs Means of Finance ■ Internal Accruals AEGIS On-Schedule Throughput volumes for LPG handled in Pipavav expected to grow through existing and new customer relationships Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 11#12Current Business Break-up Business Liquid Division Third Party Liquid Logistics (3PL) O&M Services Revenue Model - Fee based Revenue Model - Handling and Other Service Charges O&M fees FY20 EBITDA Rs. 563 Cr Liquid 25% Gas 75% ◉ Business - - Gas Division AEGIS Third Party Gas Logistics (3PL) Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Industrial Gas Distribution Marine Products Distribution (Bunkering) Gas Sourcing ◉ Revenue Model - I Fee based Revenue Model for Gas Logistics Fees for Sourcing Business Retail Margin for Gas Distribution Handling and Other Service Charges 12#13AEGIS AEGIS Gas Logistics AEGIS 13#14Gas Logistics Capturing Complete Value Chain - Gas Logistics (3PL) Terminalling Gas Distribution 40% 60% ༼བསག ITOCHU AEGIS Gas Sourcing Sourcing Shipping Segment Activity Revenue Stream Gas Sourcing Sourcing & Shipping Sourcing Commission Gas Logistics Terminalling Throughput Fees Gas Distribution Industrial, Commercial & Auto Gas Retail and Distribution Margin Creating India's No. 1 private LPG company Industrial Auto Gas Commercial AEGIS 14#15Demand Supply Gap exists for LPG in India... Consumption of LPG in India Imports of LPG in India '000 MT 7,016 10,456 +255% 14,331 24,918 23,342 21,537 2000-01 2005-06 2010-11 2016-17 2017-18 2018-19 •Source: PPAC '000 MT 853 2,883 +1,447% 4,484 AEGIS 13,194 11,380 11,026 2000-01 2005-06 2010-11 2016-17 2017-18 2018-19 Incremental Demand in LPG met through Imports 15#1610 Million Metric Tons 30 40 40 50 09 Domestic Supply ...Increasing LPG imports will need Terminal Capacity Imports: 13 20 25 13 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 Source: PPAC/IOC and Management Estimates 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 Base Case Demand 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 | 2029-30 2030-31 2031-32 - - High Growth Scenario Imports: 25 2032-33 2033-34 16 2034-35 r I I Imports: 38 50 15 12 40 AEGIS#17LPG Static Capacity Post Expansion 25,400 Static Capacity MT +86,700 MT ~4X 38,300 28,100 63,300 63,300 Mumbai 20,000 20,000 1,12,100 2015-16 5,400 Pipavav 22,100 2020-21 2015-16 Haldia 25,000 2020-21 Kandla 45,000 NIL NIL 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2015-16 2018-19 2015-16 2020-21 AEGIS 17#18LPG Throughput Capacity Post Expansion Throughput Capacity MT +8,450,000 MT ~12X 7,50,000 13,00,000 25,00,000 50,00,000 50,00,000 Actual Throughput 3.0 Mn MT Mumbai 11,00,000 92,00,000 5,00,000 2015-16 Pipavav 2,50,000 2020-21 2015-16 Haldia 25,00,000 AEGIS 16,00,000 2020-21 Kandla 40,00,000 NIL NIL 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2015-16 2018-19 2015-16 2020-21 18#19The path to increasing LPG Throughput volumes Uran - Chakan LPG pipeline Railway interconnectivity in Pipavav New LPG • • • terminal at Kandla • • Commissioned June 2020 Potential incremental volumes of 0.5 Mn MT per year To be completed Q3 FY21 Potential incremental volumes of 0.3 - 0.5 Mn MT per year To be completed in FY21 Potential incremental budgeted volumes for FY22 is 1 Mn MT AEGIS 19#20Medium Term Plan: 2020-2025 To further increase LPG capacity Kandla Pipavav Mumbai Haldia AEGIS Debottlenecking and possible expansion at existing terminals in Haldia, Mumbai and Pipavav One additional LPG terminal in the South Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 20#21Retail LPG 5-year growth plan Autogas stations Currently 115 stations over 7 states to grow to 200 stations over 20 states Commercial LPG market Expansion into a national distribution network for hotels, restaurants, industry under Aegis puregas brand Domestic LPG market LPG Bottling Plants Expansion in Tier 1, 2 & 3 urban cities with distributors and POS under Aegis Chota Cikander brand of 2kg, 5kg, 12kg & 19kg products Up to 37 LPG bottling plants including Aegis owned sites and third-party filling plants under contract on a national scale AEGIS 21#22Chota Cikander for domestic LPG market AEGIS puregas CIKANDER IKANDER CIKANDER puregas puregas AEGIS 22#23Gas Division Performance EBITDA* Rs. in Cr. Capacity Expansion + Existing & New Customer Relationships Average ~39 Average ~51 Average ~77 62 59 54 51 46 39 39 35 35 Sustainable Business Average ~106 89 80 80 78 AEGIS +37% 122 122 99 Q1FY17 Q2FY17 Q3FY17 Q4 FY17 Q1FY18 Q2FY18 Q3FY18 Q4 FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 *Normalized EBITDA - Before Forex, Hedging Related Expenses 23#24LPG Volume - Logistics '000 MT Average ~341 Average ~436 Average ~631 Average ~756 279 252 434 400 302 663 576 572 521 479 442 710 588 +3% 958 AEGIS 751 728 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3 FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 24 24#25LPG Volume - Distribution '000 MT Average ~15 Average ~20 Average ~29 15 14 21 21 22 18 17 15 15 15 28 34 31 Average ~41 +49% 41 41 37 46 AEGIS Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3 FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 25#26TT Liquid Logistics AEGIS 26#27Liquid Logistics and EPC Services Liquid Logistics (3PL) O&M Services Shipping Logistics O&M Segment Activity Facilities Revenue Stream Throughput Fees, Handling & Value Addition Charges Liquid Logistics Logistics O&M Services Operations & Maintenance O&M Fees AEGIS 27#28Liquid Capacity Post Expansion 01 Mumbai ✓ Existing - 273,000 KL 02 Kochi ✓ Existing - 51,000 KL ✓ Expansion - 20,000 KL 03 Haldia ✓ Existing - 120,190 KL ✓ Expansion – 12,000 KL 04 Pipavav AEGIS Built up of Capacities ('000s KL) Existing Expansion 120 132 120 71 Existing 120,120 KL 12 273 51 05 Kandla €20 140 75 811 25 50 ✓ Existing 140,000 KL 06 Mangalore ✓ Existing - 25,000 KL ✓ Expansion 50,000 KL Mumbai Kochi Haldia Pipavav Kandla Mangalore Total Total Capacity post expansion: ~ 811,000 KL 28#29Liquid Division Performance Revenue (Rs. In Cr.) +14% 53 47 Q4 FY19 Q4 FY20 183 171 168 154 +14% 208 Normalized EBITDA (Rs. In Cr.) • New Capacities fully operational • Margins to improve with better utilization of new capacities 29 29 +26% AEGIS 37 Q4 FY19 Q4 FY20 103 104 102 91 +35% 140 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 29 29#30Our Strategy: Building a Necklace of Terminals around the coastline of India Kandla Pipavav Mumbai B Mangalore Kochi Haldia AEGIS ✓ VLGC ■ All Ports are Deep Water Ports to accommodate VLGC ✓ Pipelines Pipeline Facilities for Larger Customers ✓ Railways ■ Railways can be set up at all ports except Mumbai ✓ Roadways ■ Well developed Infrastructure to enable connectivity to the customers Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 30#31Management Team Raj Chandaria Chairman & MD Anish Chandaria Vice Chairman & MD AEGIS Sudhir Malhotra Group President & COO Rajiv Chohan President -Business Development Murad Moledina Chief Financial Officer K. S. Sawant President Operations & Projects - 31#32Strong Industry Partners Bharat Petroleum SHV Gas D Mahindra हिन्दुस्तान पेट्रोलियम HP Reliance Industries Limited Shell TATA TATA STEEL V Valvoline. Hindustan Unilever Limited Cummin BAJAJ Bajaj Electricals Limited Inspiring Trust ( इंडियन ऑयल ESSAR STEEL ONGC एमआरपीएल MRPL IndianOil SPL PIAGGIO AEGIS 32#33Financial Performance Solid Foundations 1 GW 12 6078 SAK AEGIS 33#34Consolidated Profitability Statement Quarter/YTD AEGIS Rs. In Cr. Q4 FY20 Q4 FY19 Y-O-Y % FY20 FY19 Y-O-Y % Revenue 1,242 1,853 -33% 7,183 5,616 28% Cost of Sales 1,049 1,690 6,472 5,038 Others 35 44 148 166 Normalized EBITDA (Segment) * 158 118 34% 563 412 37% Finance, Hedging & Forex related 1 4 11 19 Expenses (Net) Depreciation 19 13 69 51 Unallocated Expenses 11 15 37 40 Normalized PBT^ 128 87 48% 446 302 48% Expenses as per Employee Stock 42 0 239 0 Purchase Plan Profit Before Tax 86 87 -1% 208 302 -31% Tax 39 16 74 50 Profit after Tax 47 70 -34% 134 252 -47% Note: During the quarter ended Sep 30, 2019, the Company has allotted 56,66,667 equity shares of the face value of Re. 1/- each to the eligible employees upon exercise as per the stock purchase plan by them Consequent upon the said allotment, the total paid up equity share capital of the Company has increased to Rs.33.97 crores * Normalized EBITDA - Before Forex, Hedging Related Expenses ^ - Normalized PBT - Before Expenses as per Employee Stock Purchase Plan 34#35Consolidated Balance Sheet ASSETS (Rs. In Cr.) Mar-20 Mar-19 Non Current Assets EQUITIES AND LIABILITIES (Rs. In Cr.) Equity Mar-20 Mar-19 Property, Plant and Equipment 1,697 1,327 Equity Share Capital 34 33 Other Equity 1,621 1,358 Capital Work in Progress 220 121 Equity Attributable to owners 1,655 1,391 Other Intangible Assets 1 1 Non controlling Interest 91 75 Goodwill 1 1 Sub-total Equity 1,745 1,466 Financial Assets Investments 0 0 Other financial assets 13 13 Liabilities Non Current Liabilities Current Tax Assets (Net) 26 22 Financial Liability Deferred Tax Assets (Net) 47 95 Borrowings 49 57 Other Non Current Asset 16 91 Other financial liabilities 316 20 Sub-total Non Current Assets 2,021 1,670 Provisions 14 12 Current Assets Inventories Deferred tax liabilities (Net) Other non-current liabilities Total Non Current Liabilities 31 83 1 2 411 174 42 34 Financial Assets Investments 7 10 Current Liabilities Financial Liability Trade Receivables 454 229 Borrowings 167 130 Cash and Cash Equivalents 222 353 Trade Payables 402 485 Bank Balance other than Other financial liabilities 138 125 41 60 above Other current Liabilities 37 27 Other Financial Assets 65 8 Provisions 4 3 Other Current Assets 68 65 Current Tax Liabilities (Net) 16 19 Total Current Assets 900 758 Total Current Liabilities 764 789 TOTAL-ASSETS 2,921 2,429 TOTAL EQUITIES AND LIABILITIES 2,921 2,429 AEGIS 35#36Consolidated Cashflow Statement In Rs. Crs Profit before tax Full Year ended 31-Mar-20 Full Year ended 31-Mar-19 208 302 Operating Profit Before Working Capital Changes 523 374 Net cash inflow from operating activities (A) 146 556 Net cash inflow/(outflow) from investing activities (B) -151 -155 Net cash outflow from financing activities (C) -126 -143 Net increase/(decrease) in cash and cash equivalents (A+B+C) -131 259 Cash and cash equivalents at the beginning of the year 353 95 Cash and cash equivalents at the end of the year 222 353 AEGIS 36#37Dividend Track Record Dividend Payout 32% 35% 44% 34% 24% 32% 34% 25% 22% 45% Rs. In Cr. Dividend Paid Net Profit 198 252 AEGIS 134 120 113 103 61 47 34 36 41 50 61 56 50 22 21 25 15 15 8 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Interim Dividend for FY20 is 50% (i.e. Rs. 0.50 per share) of Face Value of Re. 1 each Recommended Final Dividend for FY20 of 120% (i.e. Rs. 1.20 per share) of Face Value of Re. 1 each 37#38For further information, please contact: Company: Investor Relations Advisors : AEGIS Aegis Logistics Limited CIN: L63090GJ1956PLC001032 Mr. Murad Moledina, CFO [email protected] www.aegisindia.com Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Ms. Payal Dave / Mr. Jigar Kavaiya [email protected]/[email protected] www.sgapl.net 38