Doosan Corporation · KRX:000150
Doosan — Investor Presentation (September 2019)
71 slides from Doosan's investor presentation, September 2019
Slide 1: Investor Relations 2019
DOOSAN BUILDING YOUR TOMORROW) TODAY Investor Relations 2019
Slide 2: Disclaimer
The information herein is provided for your information purposes only and contains preliminary figures which may be materially different from the final figures. Forecasts and projections contained in this material are based on current business environments and management strategies. Certain data in
Slide 3: Doosan Corporation agenda
Investor Relations 2019 DOOSAN CORPORATION Chapter 1. Spin-off Background Chapter 2. Growth Strategies of Doosan Corp Chapter 3. Doosan Corp’s Dividend Policy rt a wenn ee
Slide 4: Chapter 1. Spin-off Background
lf ft ¥ Chapter 1. Spin-off Background 01. Doosan Corp's Changes in Business : Yearly Sales 02. Growth Direction of Doosan Corp's In-house Business : New and Expanded Portfolio 03. Types of New Business in Doosan 04. Expected Effects after Spin-off 05. Discovery and Growth of Business in Fuel cell/E
Slide 5: Doosan Corp's Changes in Business: Yearly Sales
rwvestor Relations 2018 Doosan Corporation 01. Doosan Corp's Changes in Business : Yearly Sales” Gas AlTa Business portfolio Expansion in existing business Value chain expansion goods-based a A 4 A Coches reorganization Explore new growth engines Entry of a high-growth business | + Selling consumer
Slide 6: Growth Direction of In-house Business: New and Expanded Portfolio
rwvestor Relations 2018 Doosan Corporation 02. Growth Direction of Doosan Corp's In-house Business : New and Expanded Portfolio Scale-up( ¢ ) through expansion of value chain, Entry into high-growth business(<) End of 2016 Endof2018 [lll Presentbusiness ll Entry into a high-growth business Machinery
Slide 7: Types of New Business in Doosan
rapidly growing being stabilized large-scale of early investment
Slide 8: Expected Effects after Spin-off
Doosan Corporation nvestor Relations 2019 04. Expected Effects after Spin-off Expected effects Growth of business through [As of Oct 2, 2019, management consolidated basis]} Present After spin-off . P selection and 020 990 concertation strategy ‘yp ° } 6 } © New Enti G t n Fuelcell Doosan Solus . ut
Slide 9: Discovery and Growth of Business in Fuel cell/Elec-foil
Investment for market dominance is necessary Security of finances through spin-off
Slide 10: Chapter 2. Strategies of Doosan Corporation
lf ft ¥ Chapter 2. Strategies of Doosan Corporation Strategies of Doosan Corporation Advanced Material & Energy Logistics Solution Provider Expanding Business of Electro-materials/Energy Logistics Automation Solution Growth of Residence/Building Fuel Cell Business Co-bot Fuel cell drone Advanced Mat
Slide 11: Increases in demand for logistics automation
47% 6% → Increases in demand for logistics automation system 35% 21%
Slide 12: Residence/Building fuel cell and repeaters
Repeater Macro repeater Residence/ IoT, Autonomous Building fuel cell sensor system
Slide 13: Rapid growth of 5G materials/components markets
Rapid growth of 5G materials/components markets Expansion of electronic device markets
Slide 14: Rapid growth of fuel cell markets
Rapid growth of fuel cell markets
Slide 15: Securing SOFC technology
Logistics Solution Provider — Machinery Doosan Corporation Appendix] Securing SOFC technology Secure SOFC technology in advance in response to market growth driven by the government and diversification of demand Expansion of fuel cell application Possess different fuel cell technologies applicable t
Slide 16: Mid/Long-Term Target of Advanced Material & Energy Business
CURE Logistics Solution Provider Machinery Doosan Corporation Mid/Long-Term Target of Advanced Material & Energy Business ° Advanced Material 1 & Energy Retail/Information Sales in 2019 3.4 KRW tn Logistics Solution Provider Machinery * Advanced Material Le Energy Retail/Information Logistics Soluti
Slide 17: Logistics Solution Provider: logistics automation business
Advanced Material & Energy QIRPRISROMcueec Machinery Doosan Corporation Logistics Solution Provider Expand business of AGV, elec-type forklift, co-bot, and fuel cell drone based on logistics automation solution Logistics Solution Integrated design, construction, and operation management of HW (facil
Slide 18: Rapid growth of global logistics automation industry
Rapid growth of global logistics automation industry Rapid growth of logistics automation market in Korea/Southeast Asia led by multi-channel distribution due to increased mobile/online transactions Southeast Asia Domestic
Slide 19: Logistics Automation Solution
Advanced Material & Energy QIRPRISROMcueec Machinery Doosan Corporation 1] Logistics Automation Solution Grow as a logistics SI company by securing additional capabilities, such as technology partnership with advanced companies based on secured S/W technology Mid/Long-Term Growth Strategies Technolo
Slide 20: Demand for co-bot is growing globally
Demand for co-bot is growing globally especially the co-bot market
Slide 21: Co-bot
Advanced Material & Energy QIRPRISROMcueec Machinery Doosan Corporation 2] Co-bot Promote business growth through an expansion of products line-up available for various industries from electronics/automobile/construction to logistics in the future les Target _ i (in KRW br) M0609 Quick iteration Jay
Slide 22: Significant growth in industrial drone market
Significant growth in industrial drone market The market of fuel cell drone is expected to grow
Slide 23: Fuel cell drone
Advanced Material & Energy QIRPRISROMcueec Machinery Doosan Corporation 3| Fuel cell drone Promote business growth by supplementing payload performance in the future, based on competitiveness in technology with long-haul flight Better flight time than Mid/Long-Term Sales Target conventional battery
Slide 24: Expansion of the electric logistics equipment business
Advanced Material & Energy Logistics Solution Provider PRElsuting Doosan Corporation 4) Expansion of the electric logistics equipment business Expand products line-up and secure production base in response to growth of logistics equipment market 17 19 21 Mid/Long-term Growth Strategies + Promote gro
Slide 25: Mid/Long-Term Target of Logistics Solution Provider
Advanced Material & Energy QIRPRISROMcueec Machinery Doosan Corporation Mid/Long-Term Target of Logistics Solution Provider * Logistics ) Solution Provider 3.4 Sales in 2019 Retail/Information Advanced Material & Energy Machinery Logi de ¢ istics } Solution Provider 7.0 KRW tn Machinery Advanced Mat
Slide 26: Machinery: expand existing and explore additional business
Advanced Material & Energy __Logistics Solution Provider Doosan Corporation Machinery Expand existing business Explore additional business Expansion of industrial vehicle . Mottrol . . Mecatec . . Regional expansion and business Discovery of hydrogen production downstream business rr , . diversifica
Slide 27: Increased rental and fleet management services needs
Limited business expansion Increased rental and fleet management services needs
Slide 28: Expanding M/S of Mottrol and Diversifying Products
Doosan Corporation Advanced Material & Energy Logistics Solution Provider 2] Expanding M/S of Mottrol and Diversifying products other than excavators Promote growth of business by expanding M/S of hydraulic products for excavators and diversifying products other than excavators M/S expansion oe . MI
Slide 29: Mecatec hydrogen production equipment business
Advanced Material & Energy __Logistics Solution Provider Doosan Corporation 3] Mecatec discovery of hydrogen production equipment business Green business model for converting and reusing greenhouse gases and carbon from landfills into hydrogen Technology End Product Mid/Long-Term Sales Target (in KR
Slide 30: Mid/Long-Term Target of Machinery Business
Advanced Material & Energy Logistics Solution Provider Mid/Long-Term Target of Machinery Business Sales in 2019 e | Machinery Retail/Information Mid/Long-Term Sales Target (in KRWbn) 3.4 KRW tn 245 Advanced Material 14 &Energy “ |) “ bal ° Logistics 50 Solution Provider e 163 ns in022 — a Retail/Inf
Slide 31: Innovative solution and continuous investment in future technologies
innovative solution and differentiated value continuous investment and development of future technologies
Slide 32: Chapter 3. Doosan Corp's Dividend Policy
alr 1 ¥ Chapter 3. Doosan Corp's Dividend Policy Doosan Corp's dividend policy will be continued
Slide 33: Doosan Corp's dividend policy will be continued
Doosan Corporation nvestor Relations 2019 Doosan Corp's dividend policy will be continued Doosan Corp has continuously increased dividend for shareholders profit by creating business value It has implemented quarterly dividend of KRW 1,300 per share to strengthen the shareholder return policy since
Slide 34: Design the future, Spark the growth!
Design the future, Spark the growth!
Slide 35: Doosan Solus agenda
Investor Relations 2019 Chapter 1. Company Overview Chapter 2. Doosan Sous Highlights
Slide 36: Chapter 1. Company Overview
Chapter 1. Company Overview 01. Company Overview 02. History & Long-term Outlook 03. Doosan Solus Share Structure
Slide 37: Company Overview: Doosan Solus
Investor Relations 2019 Doosan Solus 01. Company Overview Business Profile . Battery Copper foil for Company Profile Foil EV batteries w& Name Doosan Solus — —- Copper CEO Lee, Yun-Seok Foil Copper foil for Division ere electronic devices Establishment | 2019.10.01 (PCB) Listing 2019.10.18(KOSPI) =
Slide 38: History & Long-term Outlook
Investor Relations 2019 Doosan Solus 02. History & Long-term Outlook Growing as a global leader in providing differentiated, industry-leading materials, Targeting 1 KRW Tn of sales in 2023 10/1SOLUSEstablishment i an i &) Completion of Securing core Bio obtained GMP Battery Foil plant Securing more
Slide 39: Doosan Solus Share Structure
Investor Relations 2019 Doosan Solus 03. Doosan Solus Share Structure Advanced materials (Display, Bio) Doosan Solus + Head Office(Seoul) (South Korea) * Display, Bio R&D(Yongin) * Display, Bio Manufacturing(Iksan) oO Oo . a a . Copper Foil jq9%, — — 100% Battery foil DEL DCE * Sales (Luxembourg) (H
Slide 40: Persons in 2019 and 2023
Persons (in 2019) 1,000 Persons (in 2023)”
Slide 41: Doosan Solus Highlights
Doosan Solus Highlights Future-oriented, High-growth Portfolio
Slide 42: Doosan Solus Highlights
Investor Relations 2019 Doosan Solus Doosan Solus Highlights Future-oriented, High-growth Standing-out position High-growth in Short-term Portfolio in the market + Based on expansion of EVs, Battery Foil + Providing differentiated value to + Battery Foil : Timely capacity expansion demand in Europe
Slide 43: Battery Foil demand in Europe expected to surge
Battery Foil Copper Foil Future-oriented, High-growth Portfolio Display Bio Doosan Solus Based on EVs expansion, Battery Foil demand in Europe is expected to surge x15 Global Vehicle Market Outlook x10 growth in EV Market, while Negative growth in ICE(Internal Combustion Engine) Market in million un
Slide 44: Standing-out position: battery foil
Competitive edge in lead time • • Customer-focused support • • Supply contract with major customers in progress
Slide 45: Battery foil: High-growth in Short-term
Battery Foil Copper Foil Display Bio Doosan Solus High-growth in Short-term Expect 800 KRW Bn of sales in 2025 with timely expansion of capacity to meet battery customers’ demand Battery foil Sales Outlook Growth-accelerating strategy in KRW bn 800 600 Based on demand for battery customers 430 Preem
Slide 46: High-end copper foil demand with 5G
Battery foil | Copper Foil | Foil Display Future-oriented, High-growth Portfolio Bio Doosan Solus With entry into the 5G era, demand for High-end Copper Foil is expected to increase x1.5 Mobile data usage forecast in monthly data usage /person(GB) 98 rN Due to entry into 5G era, x33 data usage will
Slide 47: Copper foil: standing-out position in the market
Battery Foil | Copper Foil | Foil Display Bio Doosan Solus Standing-out position in the market Global No.1 high-end Copper foil manufacturer with 60 years of experience Copper foil for 5G M/S No.1(70%)") for leading customers * High-end Copper foil : Low loss, High-Frequency etc. ame Mice HUAWEI Hig
Slide 48: Copper foil: High-growth in Short-term
Battery Foil | Copper Foil | Foil Display Bio Doosan Solus High-growth in Short-term Achieve 240 KRW Bn of sales in 2023 due to expansion of high-end, high-margin products Copper Foil Sales Outlook Growth-accelerating strategy BB High-end (%) Standard . . . newen Expansion of high-margin products fo
Slide 49: OLED materials market expected to grow x3
Battery Foil Copper Foil Display Bio Doosan Solus Future-oriented, High-growth Portfolio Based on increasing adoption of OLED Display in Mobile & TV, OLED materials market is expected to grow x3 . OLED materials market forecast Mobile 5 men nis 900 in KRW tn Major smartphone manufacturers are (Samsu
Slide 50: Display: standing-out position in the market
Battery Foil Copper Foil Display Bio Doosan Solus Standing-out position in the market Core IP for OLED functional material & References of Top-tier panel makers Holding core IP for OLED functional material for blue (aETL1)” * Improve blue layer efficiency by 30% * Core IP : Application(Dec, 2013), R
Slide 51: Display: High-growth in Short-term
Battery Foil Copper Foil Display Bio Doosan Solus High-growth in Short-term Achieve 250 KRW Bn of sales in 2023 due to expansion of OLED TV & Customer diversification Display materials Sales Outlook Growth-accelerating strategy inj KRW bn Product expansion for CLES OLED TV 250 be 50 Joint developmen
Slide 52: Bio target market expected to grow x2
Battery Foil Copper Foil Display Doosan Solus Future-oriented, High-growth Portfolio According to increasing needs for natural materials, Bio target market is expected to grow x2 Cosmeceutical Natural-based moisturizer (Ceramide) Pharmaceutical Natural-based emulsifier (PC? etc.) Nutraceutical Natur
Slide 53: Bio: standing-out position in the market
Battery Foil Copper Foil Display | Bio Doosan Solus Standing-out position in the market Core Technology for Natural-based Bio Materials Only Natural Ceramide Manufacturer in Korea, M/S 95% Only Natural Ceramide” * Supplying natural ceramide to major domestic customers Manufacturer e@ in Korea AMOREP
Slide 54: Bio: High-growth in Short-term
Battery Foil Copper Foil Display | Bio Doosan Solus High-growth in Short-term 160 KRW Bn of sales in 2023 is expected with product diversification and value-chain expansion . Growth-accelerating strate Bio Sales Outlook pwn © \21+ cin anion natal FRO > Market Bio materials Size (19) | Cosmeceutical
Slide 55: Doosan Solus Vision
westor Relations 2019 Doosan Solus Doosan Solus Vision GLOBAL.NO.1 MATERIAL SOLUTIONS PARTNER Slogan Aspiration Design the Future, Spark the Growth Copper Foil OLED Ly 22% 23% Vision Statement Coppe Doosan Solus will be 2 clobal leading§ a Battery Foil providing advanced materials and iniiGVelvelsol
Slide 56: Doosan Fuel Cell agenda
Investor Relations 2019 Chapter 1. C Overvi DOOSAN Chapter 2. Highlights of Doosan Fuelcell FUEL CELL Paci | Power tow a poe
Slide 57: Chapter 1. Company Overview
Chapter 1. Company Overview 01. Company Overview 02. History and Doosan Fuelcell after Spin-off
Slide 58: Company Overview: Doosan Fuel Cell
Investor Relations 2019 Doosan Fuel Cell 01. Company Overview Introduction of business Supply of fuel Provide fuel cell Company Overview cell for power generating generation power and heat Name Doosan Fuelcell CEO Sookyung Yoo Establishment 2019.10.01 Listing 2019.10.18(KOSPI) Assets 422 KRW bn” Pro
Slide 59: Business History and Doosan Fuelcell after Spin-off
Investor Relations 2019 Doosan Fuel Cell 02. Business History and Doosan Fuelcell after Spin-off Jump up to be a leading company in fuel cell for power generation, sales expected to reach 1 KRW tn by 2023 ~ @—9—©-8) Installation of fuel Launch of Fuelcell Completion of Achievement of Orderforthe wor
Slide 60: Chapter 2. Highlights of Doosan Fuelcell
Chapter 2. Highlights of Doosan Fuelcell Stable High-growth Market Unique Position in the Market Expansion of domestic M/S with commercially proven PAFC technology Price competitiveness through the establishment of automated facilities and localization of components Stable High-growth Market Outlook
Slide 61: Stable High-growth Market
• Prospects for high growth • GENCO Plans to expand the fuel cell installation by 2030 • Promotion of SOFC technology development and commercialization
Slide 62: Stable High-growth Market
Stable High-growth Market Growth-accelerating strategy
Slide 63: Stable High-growth Market
Stable High-growth Market Growth-accelerating strategy
Slide 64: Stable High-growth Market: Australia/Japan, Others
Stable High-growth Market Growth-accelerating strategy Australia/Japan Others
Slide 65: Unique Position in the Market
Unique Position in the Market Growth-accelerating strategy
Slide 66: Unique Position in the Market
Unique Position in the Market Growth-accelerating strategy 1)
Slide 67: Growth Strategies: KRW 1 trillion sales target in 2023
Stable High-growth Market Unique Position in the Market [cg Mur-\ccoicluremiiclciesy Doosan Fuel Cell Growth Strategies Target to achieve KRW. 1 trillion in sales of units and LTSA by accelerating growth until 2023 Sales et in 2023 Growth Strategies (nKRW bn) Expansion Expansion * Replacement of age
Slide 68: Heat demand market potential
• Replacement of heat Small/ Incinerator LNG Smart Heat demand Mid-scale Boil-off-Gas Farm Market combined potential heat
Slide 69: Commercialization of LPG combined model & hydrogen market entry
Stable High-growth Market Unique Position in the Market [cg Mur-\ccoicluremiiclciesy Doosan Fuel Cell 2} Commercialization of LPG combined model & Entry into the hydrogen market for transportation Initial business model (eecitesl Verification Commercialization Market Potential Development ‘The world
Slide 70: Development and Commercialization of SOFC model
Stable High-growth Market Unique Position in the Market Purpose of SOFC technology development + Improve E-only market, a market requiring only electricity without heat - To Expand and improve the business along with PAFC models + Achievement of the 20205 Grid Parity goals - Target cost level of sma
Slide 71: Leads the transition to an eco-friendly hydrogen society
leads the transition to an eco-friendly hydrogen society a clean, reliable best energy solution