Investor Presentaiton

Yingde Market Valuation and Implied LTM EBITDA Multiples (1) Price/Share (HK$) Unaffected Price Today's Price Best APD Offer to Date 2.87 4.87 6.00 Implied FD Mkt Cap (HK$ MM) 5,426 9,211 11,350 Aggregate Value (HK$ MM) 16,225 20,010 22,149 LTM EBITDA Multiple (2) Notes 5.0x 6.2x 6.8x 1. Price as of 2/10/2017 close at HKD4.87; CNY:HKD as of 2/10/2017 close at 0.89 2. EBITDA calculated as profit from operations + depreciation and amortization + share of earnings from associates and joint ventures YINGDE GASES GROUP COMPANY LIMITED 盈德氣體集團有限公司 23

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