Tpi Polene Power Public Co., Ltd. · SET:TPIPP
Tpi Polene Power Public — Q3 2021 Earnings Presentation
46 slides from Tpi Polene Power Public's earnings presentation, 2021
Slide 1: Slide 1
Slide 2: Table of Content
@ Table of Content AGE Company & Business Overview | Financial Highlights co — yLlin, Key Operation = Highlights usin fiWla wau twias difia (Un wu) ee. ; eg contiientiol TPI POLENE POWER PUBLIC CO.,LTD.
Slide 3: Company & Business Overview
ore Company & Business Overview usin fiWla wau twias difia (Un wu) - ; oe aga are & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 4: TPIPP's Vision and Mission
TPIPP ‘S Vision and Mission usin fiWla wau twias difia (Un wu) - 4 oe aga are & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 5: Environmental, Social and Governance (ESG)
amUulngywouu [dus:tGudayaduavusaaau avau wassssuTAUIA (Environmental Social and Governance: ESG) DIAM Ws IUNAMSsaitGUNIUMU ESG U 2563 Tawtécin3a WFE ESG Metrics S1udu 30 ddw5a UavaUIWUSsoaIaHannswélan (World Federation of Exchanges) asuUnztiuulda lagstumwsou WanisUs:10UMU ESG Uav TPIPP U 2563 agius:
Slide 6: usUn AWla Iwau twidas d1Aa (UK WU)
usUn AWla Iwau twidas d1Aa (UK WU) TPI POLENE POWER PUBLIC CO.LTD. Strictly Private & Confidential
Slide 7: Thailand Stance on COP
Thailand Stance on COP Total CO, Emission in 2030 = 555m tons Paris Agreement 2015 NDC by 2030 = 115m tons (20.8% of total emission) -Industry = 43m tons -Transport = 41m tons -Energy = 24m tons -Others = 7m tons COP26 (Glasgow) NDC by 2030 = 46m tons (40% of 115m tons) NDC by 2050 = 115m tons (tota
Slide 8: TPIPP Greenhouse Gas Reduction
@ TPIPP Greenhouse Gas Reduction Green Power Plant eS 220 / 440 . 7 e 150 / 464 g e 0/582 Coal Power Plant Capacity Per Total Power Plant Capacity usin fiWla wau twias difia (Un wu) - ° aeeeueeecre = Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 9: 17,000 Ton / Day 5.2 mil Ton / Year 12.0 mil Ton-CO,
17,000 Ton / Day 5.2 mil Ton / Year 12.0 mil Ton-CO, 29,000 Ton / Day 8.6 mil Ton / Year 20.0 mil Ton-CO, usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential
Slide 10: Value of Carbon Market Update 2021
TPP Value of Carbon Market Update 2021 Increases in Participation According to the World Bank's Carbon Pricing Dashboard, which provides tracking data on all existing and emerging carbon pricing jurisdictions worldwide, there are currently 64 carbon pricing initiatives. This is a continuation of the
Slide 11: TPIPP Certification and Awards 2021
TPIPP Certification and Awards 2021 OUN Gwe Less =) 9 ESG100 VD Environmental - Social - Governance nvironmental + Social» Governance Ml CREATIVE ENERGY CATEGORY BR priate = Confidential usUn AWla Iwau twiidas dia (UK wu) 7 oe TP! POLENE POWER PUBLIC CO.,LTD.
Slide 12: TPIPP as TPIPL's Flagship for Power Business
rH) TPIPP as TPIPL’S Flagship for Power Business Unit : THBmm TPIPP (Q3 2021) | TPIPP (9M 2021) Electricity generation from waste Main Giicinace heat and refused derived fuel (RDF) power plants and operation in petrol and gas stations. | Total Revenue 2,943 8,649 lil Operating EBITDA * 1,238 4,142 N
Slide 13: Summary of TPIPP's Power Plant Operations
uaa) ~SUMmmary of TPIPP’s Power Plant Operations TPIPP’s Installed Capacity Breakdown by Fuel MW QO Operates the Alternatives fuels and Electricity Energy mWH = CoaURDF mCoal mRDF a= Solid waste disposal project * Alternative Fuels RDF Plant * Renewable Energy Power Producer SPP VSPP * Power plant I
Slide 14: Financial Highlights
| Financial Highlights BR priate = Confidential usin fiWla wau twias difia (Un wu) 3 oe TPI POLENE POWER PUBLIC CO.,LTD.
Slide 15: Revenue
Revenue Diversified Revenue Streams Led by Growing Revenues from Energy & Utilities Division Total Revenue from Sales of Goods (THBmm) Revenue from Energy & Utilities (THBmm) 13% 8,340.2 8,452.2 409.8 377.8 7,930.4 8,074.4 9M 2020 9M 2021 m Energy & Utilities Strictly Private & Confidential 8,074.4
Slide 16: Cost of Sales Breakdown and Gross Profit
Q3 Y2021 Cost of Sales Breakdown (THBmm) Gross Profit (THBmm) and Gross Profit Margin" (%) Energy & Utilities: H 48.9% 45.1% 45.2% | 46.0% m, H a ———— ' L. 37586 38223 | Si : ' Ty] Maintenance H 5% H Waste Heat ' 0% H Total: THB 1,659.6 mm ' Petrol & Gas Station: | 1,386.4 14288 ' 1,108.2 Others “te
Slide 17: Cost & Expenses vs. EBITDA & NPAT
rH) Cost & Expenses vs. EBITDA & NPAT Cost & Expenses Items (THBmm) Operating EBITDA" (THBmm) and Operating EBITDA margin®) (%) 50.3% 490% | 514% Jia 43.0% . . ' . — 41417 nos 9M 2020 9M 2021 Q3 2020 Q2 2021 Q3 2021 lam Operating EBITDA —=— Operating EBITDA Margin Operating NPAT (THBmm) and NPAT mar
Slide 18: Comparing Profit and Loss Statement - YoY and QoQ
rH) Comparing Profit and Loss Statement — YoY and QoQ Unit -THBmm 2020 2021 2020 2021 2021 Compare (%) 9M 9M Q3 Q2 Q3 YoY (9M) YoY (Q) QoQ Income | Revenue from base tariff 43392 4.2649! 16154 1.5259 1,453.9 1.7% -10.0% AT% Revenue from power adder 3560.7 3,729.81 1,253.7 1,245.4 — 1,257.9 47% 0.3%
Slide 19: Generated Amount of Electricity and Capacity
Generated Amount of Electricity (M.KWh) and Capacity (MW) 2020 2021 Dif %Change Q3 615.35 565.64 -49.71 -8.08 9M. 1,634.81 1,672.86 +38.06 +233 Q2 2021 Q3 2021 1814 8178.3 e 22 f 2 e's 2 2 2 2 2 2 2 2 2 9 8g ee ee ee es usin fiWla wau twias difia (Un wu) TPI POLENE POWER PUBLIC CO.,LTD.
Slide 20: Debt Profile and Leverage Ratios
Debt Profile and Leverage Ratios Interest Bearing Liabilities (THBmm) Cash / Cash Equivalents & Other current financial assets (THBmm) 15,6504 12,8997 42307 44108 3,749.8 33403 3.2868 70542 8,000.0 4,000.0 | 2859 >=n 2016 2017 2018 2019 2020. 9M2021 2016 2017 2018 2019 9M 2021 Net Debt" to Equity (x
Slide 21: Key Operation Highlights
Key Operation Highlights SS Ganfidentiol usin fiWla wau twias difia (Un wu) " aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 22: Power Plants and Capacity
IPS 20 MW 20 MW Power Plants with Electricity Sales TG7 70 MW PEE TG8 150 MW OMW SPP Power Plants with Electricity Sales to EGAT Total Power Capacity 440 MW WH MB RDF/WH Coal RDF supplement usin fiWla wau twias difia (Un wu) resi = _ ae nitiential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 23: Boilers' Type
BOILERS’ TYPE IIXAO) 21 @ Sane Ee @ Se WHB AOQC, SP1 @ wus agc, sp2 @ wus agc, sp3 PPE EE e WHB AQC, SP4 bbb bbe usin fiWla wau twias difia (Un wu) - 7 oe aga are & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 24: TPIPP's WTE Power Plant Situation
@ TPIPP’S WTE Power Blane Situation Grate Boiler B13, B14, B15 a ia ' ; usin fiWla lwau twas drfia (un wu) Strictly Private & Confidential 24 TPI POLENE POWER PUBLIC CO.,LTD.
Slide 25: Plant Operation Improvement 2021-2023
@ PLANT OPERATION IMPROVEMENT 2021-2023 ) Improvement Plant ) Availability Improvement of Power Plant Efficiency SS Ganfidentiol usin fiWla Iwau twias drfia (un wu) - aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 26: RDF Cost Reduction
TPP 1.RDF Cost Reduction A RDF 1200 1,003.88 1000 860.44 = 800 756.80 > c oO 600 400 200 o T T T Year2020 Q1_2021 Q2_2021 Q3_2021 usin fiWla wau twias difia (Un wu) : ua _ Seeaauw atte & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 27: Improvement of Power Plant Efficiency
2.lmprovement of Power Plant Efficiency SPP 2.80 2.70 2.60 250 2.40 Baht/ Kwh 2.32 2.30 2.20 2.10 2.00 Year2020 Q1_2021 Q2_2021 Q3_2021 SS Ganfidentiol usUn fiWla Iwau twibas d1fla (UHIWwU) - “1 TPI POLENE POWER PUBLIC CO.,LTD.
Slide 28: Improvement of Power Plant Efficiency
2.lmprovement of Power Plant Efficiency TPIPL 271 fe 3 “7 > ~ cs o is) Year2020 Q1_2021 Q2_2021 Q3_2021 ee usin fiWla wau twias difia (Un wu) - papeaeeeecte &: Conridentiat TPI POLENE POWER PUBLIC CO.,LTD.
Slide 29: Electricity Sale Unit
Electricity Sale Unit a 3,000 2,498 é 1,978 ents c 2 mspP = (a TPIPL TOTAL 2019 2020 Estimate 2021 Utilization Rate Revenue 15,000 = 11,809 o a c 10,000 2 @ spp = EDS @ TPIPL | Pr “_ 2019 2020 Estimate 2021 usin fiWla wau twias difia (Un wu) Strictly Private & Confidential TPI POLENE POWER PUBLIC CO
Slide 30: Improvement Plant Availability
3. Improvement Plant Availability SPP 700.00 | eRaeD or 3595 ( 0 3419 350.5 000% 99.9% 95.35% 99.55% 400.00 Million Kwh Year2020 Q1_2021 Q2_2021 Q3_2021 usin fiWla wau twias difia (Un wu) i ; Bee: _ aeeeueeecre = Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 31: TPIPL
TPIPL 700.00 600.00 s 500.00 = 66.63% © 400.00 59.55% 246.3 mil 59.73% = : 2.796 B/kwh 206.2 mil = es im ‘ 43.72% 2.909 B/kwh 300.00 2.875 B/kw es 2812 B/kwh 200.00 — 100.00 Year2020 Q1_2021 Q2_2021 Q3_2021 Strictly Private & Confidential usin fiWla wau twias difia (Un wu) TP! POLENE POWER PUBLIC CO
Slide 32: Coal Replacement
rH) 4. Coal Replacement Coal replacement by High Heating Value RDF la @ B6 Coal Replacement Project = 5 Lines production with = B8 and Expansion = B6 and Expansion Modificatio! 4,500 ton per day Capacity Modification for 80 % re) for 100 % RDF replacement = Investment 1,000 Mil Baht RDF replacement
Slide 33: RDF Production Plan
12,000 10,000 8,000 6,000 RDF PRODUCTION PLAN 11,700 2011 2014 2016 2021 2022F @ RDF LINE 14,15,16,17,18 @ RDF LINE 10,11,12,13 @ RDF LINE7,89 @ ROF LINE 5,6 @ RDF LINE12,3,4 Strictly Private & Confidential usin fiWla wau twias difia (Un wu) TPI POLENE POWER PUBLIC CO.,LTD. 33
Slide 34: Activities
| Activities | RDF Supply for Cement Kiln Plants Covid -—19 Waste N private & ip usUn fiWla Iwau twidas Siria (UR IwU) ” TPI POLENE POWER PUBLIC CO.,LTD.
Slide 35: RDF Supply for Cement
rH) RDF Supply for Cement * RDF requirement for coal replacement in 4 Kiln Plants is 2,500 ton per day * Production and Selling RDF to TPIPL is approx. 750,000 Ton per year ¢ Investment of RDF plant 1,200 Mil Baht BOI Tax Incentive 8/5 * Estimate Revenue for RDF revenue 650 Mil baht per year ¢« KILN
Slide 36: Covid-Waste
Covid —- 19 Waste ASU. GUGLAASs:nsdvaqnHAssSU lla: HUDSOIUALAs Wav isosamsurlueUHU: Gata ns:nsov agaHKAssusvaaNus: MAI fu Sufi 8 AaIAU 2564 {Sav ulsuIeMstituE= yanoudasounJugaiwaotu . imtnwavlsvoruUuMsdoAs1D muidamumsniuwgs-urauavlsalasa 19 wWathisocaidumstue:dada TutnntulsooiuAGAswwsauta:rinemw ' ;
Slide 37: Special Activity - Covid-19 waste
@ Special Activity- Covid-19 waste usUn fiWla wau twas drfia (UHI TPI POLENE POWER PUBLIC CO.,L Strictly Private & Confidential
Slide 38: Total 2,112.78 ton
Total 2,112.78 ton je@eeUSuICU (ciu)|} 11.7 Revenue 10.5 Mil Baht (17 days) esis eric usin fiWla wau twias difia (Un wu) = cent certo TPI POLENE POWER PUBLIC CO.,LTD.
Slide 39: Prospect Projects
PROSPECT PROECTS New Power Plant MSW Incinerator PDP2018 New Power Plant MSW Incinerator EEC Southern Economic Zone ee Confidential usin fiWla wau twias difia (Un wu) - aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 40: Prospect Power Plant Capacity
© Prospect Power Plant Capacity Capacity ( MW.) 582 464 474 440 220 IPS 220 ‘ — - = 2021 2023 2024 2025+ eseimee eric usin fiWla wau twias difia (Un wu) i” cent certo TPI POLENE POWER PUBLIC CO.,LTD.
Slide 41: Us:danSmiwnis
Strictly Private & Confidential Us:danSmiwnis Skispamsuy: haan fuwun EEC 6,524 Gudasu 4 urs wwSu 4,274 cudosu uesacau gnrivannsu 2,250 audosu auau ine aowuiaonauee:ld gnrasanua 317 kno ax * aatedowmeira : ; ae 186 sucrdoo —s er st, eS : Wurl EEC Iéifo 130 sunsodéstue I waolwihernee-télu Tsppiunadaue
Slide 42: US: MANBUZNISLAUDSIAIDOAHWANBUSIUNUADAS Wila-USHISVANISS:UUMIDAUE-Vanay
US: MANBUZNISLAUDSIAIDOAHWANBUSIUNUADAS Wila-USHISVANISS:UUMIDAUE-Vanay ' ; ; ' usin fiWla wau twias difia (Un wu) Strictly Private & Confidential 42 TPI POLENE POWER PUBLIC CO.,LTD.
Slide 43: New Generation Smart Deep Sea Ports
New Generation Smart Deep sea Ports Clean Technology Ci And E it ene nergy Industrial Park y Distribution Center Center twidaS d1Aa (UK WU) OWER PUBLIC CO.,LTD. usUn AWls wa TPI POLEN' Strictly Private & Confidential 43
Slide 44: Future MEGA Project
rH) Future MEGA Project The developm Southern Ec c Zone (SEZ) — On October 4" 2016, the cabinet had a resolution to approve the promotion of the “Triangle of Security, Prosperity, Sustainability” for 4 prototype cities. 1. Betong District, Yala Province 2. Su ngai go lok District, Narathiwas Provinc
Slide 45: Future MEGA Project
rH) Future MEGA Project — On January 7“ 2021, there is a subordinate legislation by the MOC to waive all register and notarization fees to all companies in 4 southern provinces and 4 districts in Songkla. — On February 22" 2021, the investigation for accuracy committee led by Capt. Thamanat Prompow
Slide 46: Thank you
Thank you Strictly Private & Confidential 46
TPI Polene Power Public Company — Q3 2021 Earnings Presentation on 6ix