Tpi Polene Power Public Co., Ltd. · SET:TPIPP
Tpi Polene Power Public — Q1 2022 Earnings Presentation
59 slides from Tpi Polene Power Public's earnings presentation, 2022
Slide 1: TPI Polene Power Public Company Limited
Slide 2: Table of Content
) Table of Content soe Company & Business Overview Financial Highlights Key Operation Highlights New Prospect Project Mission to No Emission usUn fills Iwau twas drfia (un wu) , ae ; peepee = conridentiot TPI POLENE POWER PUBLIC CO.,LTD.
Slide 3: Company & Business Overview
ore Company & Business Overview usUn fills Iwau twas drfia (un wu) , ae ; peepee = conridentiot TPI POLENE POWER PUBLIC CO.,LTD.
Slide 4: TPP What We Stand For
TPP What We Stand For Driving and expanding businesses using cutting | ECH NO LOGY edge technologies and the latest techniques Produce the top, world-class products to satisfy the RODUCT customer’s needs in all areas of life Moving forward with the newest innovations | N NOVATION through a top class
Slide 5: TPIPP's Vision and Mission
) TPIPP ‘S Vision and Mission usUn fills Iwau twas drfia (un wu) ye 7 - 5 ; ee © Corektentiot TP! POLENE POWER PUBLIC CO.,LTD.
Slide 6: TPIPP as TPIPL's Flagship for Power Business
ro) TPIPP as TPIPL’S Flagship for Power Business Unit : THBmm Electricity generation from waste Mair Business heat and refused derived fuel (RDF) power plants and operation in petrol and gas stations. — Total Revenue 2,896 mwsu Operating EBITDA * 1,10 i becaane Net Profit ass ysecccees| 4 Total Asse
Slide 7: Summary of TPIPP's Power Plant Operations
, ) Summary of TPIPP’s Power Plant Operations TPIPP’s Installed Capacity Breakdown by Fuel MW QO Operates the Alternatives fuels and Electricity Energy = WH © Coal/RDF = Coal @ RDF © Solid Waste Disposal Project = Solar Farm * Alternative Fuels RDF Plant * Renewable Energy Power Producer SPP VSPP *
Slide 8: Financial Highlights
| Financial Highlights ERT artes & Confidential usUn AWla Iwau twias d1fia (UK wu) 3 NAN A laa TP! POLENE POWER PUBLIC CO.,LTD.
Slide 9: Revenue
Revenue Diversified Revenue Streams Led by Growing Revenues from Energy & Ut Total Revenue from Sales of Goods (THBmm) Revenue from Energy & Utilities (THBmm) 2,787.6 37. 2,650.4 2020 2021 Q1 2021 Q4 2021 QI 2022 Energy & Utilities ™ Petrol & Gas Station -0.3% ; 105868 10; — : YoY = 3.1%, Oo aa 39.6
Slide 10: Cost of Sales & Gross Profit
Cost of Sales & Gross Profit Q1 Y2022 Cost of Sales Breakdown (THBmm) Gross Profit (THBmm) and Gross Profit Margin™ (%) Energy & Utilities: Raw 45.8% 44.1% a materials & —___» ' ~_f08% Fuel 53% 5,091.7 ' rT 48871 | 314% { 58.1 ' a 544 Maintenance 4% Waste Heat 0% Total: THB 1,789.0 mm aa 48327 Petro
Slide 11: Cost & Expenses vs. EBITDA & NPAT
GS cost & Expenses vs. EBITDA & NPAT Cost & Expenses Items (THBmm) Operating EBITDA” (THBmm) and Operating EBITDA margin® (%) 50.8% 48.7% 52.9% 473% 2020 2021 Q12021 «= Q42021_:~=S QQ 2022 lm Operating EBITDA —=—Operating EBITDA Margin Operating NPAT (THBmm) and NPAT margin®) (%) 38.9% 36.9% ——s 29.
Slide 12: Comparing Profit and Loss Statement — YoY and QoQ
@ Comparing Profit and Loss Statement — YoY and QoQ Unit -THBmm 2020 2021 2021 1 Compare (%) 12M 12M Qi Qi YoY (12M) YoY (Q) QoQ Income | Revenue from base tariff 5,761.0 5,443.3! 1,285.0 1,178.5 1,500.0 5.5% 167% 27.3% Revenue from power adder 4,786.1 4,969.11 1,226.4 1,239.3 1,052.0 3.8% 142% = -1
Slide 13: Generated Amount of Electricity and Capacity
Generated Amount of Electricity (M.|KWh) and Capacity (MW) ‘%Change 181.4 91783) 134.4) e@eee rr Fer e@ 2 2 e@ ee fw Bg 8 a ee aaa aaa aaamaaaaaaaaaaaaaamasaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaamamaamaaaaaa J i usGn fAiWla Iwau twibas dria (uN wu) ee ee © Conficdentiol TPI POLENE POWER PUBLIC CO.,LT
Slide 14: Debt Profile and Leverage Ratios
ro) Debt Profile and Leverage Ratios Interest Bearing Liabilities (THBmm) Cash / Cash Equivalents & Other current financial assets (THBmm) 16,1740 16,1775 12,899.7 7,0542 hth 4,000.0 2016 2018 2019 «+2020 8 2021 Q12022 Net Debt" to Equity (x) 42307 44108 4,424.6 33403 32868 3,384.6 = ind L il 2020 2
Slide 15: COD and ADDER Schedule for each plant
TPP COD and ADDER Schedule for each plant COD and ADDER Schedule for each plant Expiration of ADDER ADDER 18 MW 16 JAN 2015 JAN 2022 Pa 55 MW TGS 6 Aug 2015 way, AUG 2022 3 90 MW TG4+TG6 18APR 2018 TAN APR 2025 ERT artes & Confidential usUn AWla Iwau twias d1fia (UK wu) . peu eriv' — TPI POLENE POWE
Slide 16: Projected Additional EBITDA in Yr. 2022
¢ . Projected Additional EBITDA in Yr. 2022 1,513.0 599.0 538.0 i = 341. a Adder Adder f T T — T FT RDF Coal Ad Hoc LI TPIPL Replacement Electricity (458.9) (675.7) (1,134.6) a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) s NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 17: Key Operation Highlights
Key Operation Highlights a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) : NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 18: TPIPP's WTE Power Plant Situation
TPIPP’ S WTE Power Plant Situation IPS 20 MW 20 MW Power Plants with Electricity Sales TG7 70 MW to TPIPL SPP Power Plants with Electricity Sales to EGAT 180 MW Total Power Capacity 440 MW WH MS RDF/WH Coal RDF supplement Se Cs foritiol usUn AWla Iwau twas dia (un WwU) = oo ee TPI POLENE POWER PUBLI
Slide 19: Boilers' Type
@) BoILers' TYPE KIO) QE @) Sa} 4E@ om Se WHB AOQC, SP1 @ wus agc, sp2 @ wus agc, sp3 e WHB AQC, SP4 usUn fills Iwau twas drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential
Slide 20: TPIPP's WTE Power Plant Situation
@ TPIPP’S WTE Power Plant Situiation Grate Boiler B13, B14, B15 | : ; ’ ; usUn fiWls Iwau twibas d1fia (UH WwU) Strictly Private & Confidential 20 TPI POLENE POWER PUBLIC CO.,LTD.
Slide 21: Plant Operation Improvement 2021-2023
@ PLANT OPERATION IMPROVEMENT 2021-2023 ) Improvement Plant ) Availability Improvement of Power Plant Efficiency Tn rina & Confidential usUn AWla Iwau twias d1fia (un wu) P NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 22: RDF Cost Reduction
1.RDF Cost Reduction RDF 860.44 Baht/ton Year2020 Q1_2021 Q2_2021 Q3_2021 Q4_2021 Q1_2022 ERT artes & Confidential usUn AWla Iwau twias d1fia (UK wu) = peu eriv' eR fd TPI POLENE POWER PUBLIC CO.,LTD.
Slide 23: Improvement Plant Availability
2.Improvement Plant Availability SPP 700.00 . 600.00 > 500.00 ascqo——__390S_ i a a 5 #000 95.35% = 300.00 200.00 100.00 Year2020 Q1_2021 2021 Q3_2021 Q1_2022 usUn fiWls Iwau twias J1ria (UH wU) : , J i peepee = conridentiot TPI POLENE POWER PUBLIC CO.,LTD.
Slide 24: Trend of FT Adjustment Sell for SPP
Trend of FT Adjustment Sell for SPP bee o e ¢ rd ig e ¢ rd id FT-Q2/22 +0.3532 B/kwh jee ~0.1440 -0.2250 ~0.3404 0.3516 -0.3389 0.3622 a inte & GConridantial usUn fiwla Iwau was sia (uH Wu) 7 NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 25: Trend of FT Adjustment Sell for TPIPL
rH) Trend of FT Adjustment Sell for TPIPL "| FT-Q2/22 +0.4009 B/kwh — t Jan-20 May Sep Jan-21 May Sep jan-22 May Sep -0.1000 -0.1160 MP 0.1532 -0.1500 a inte & GConridantial U8Un fila Iwau lwaaé daria (uInwu) = age ae TPI POLENE POWER PUBLIC CO.,LTD.
Slide 26: Coal Replacement
ro) 3. Coal Replacement Coal replacement by High Heating Value RDF la = 5 Lines production with 4500 ton per day Capacity = Investment 1,000 Mil Baht = Jan -Oct 2023 Ne (a = Phase 1B6 Modification = Phase 2New RDF Boiler = Phase 1 Jan- AUG 2022 = Phase 2 APR 2022 - May 2023 = Investment 800 mil Baht
Slide 27: RDF Plant Installation Capacity
12,000 10,000 8,000 RDF PLANT INSTALLATION CAPACITY 11,700 2011 2014 2016 2021 2023F @ RDF LINE 14,15,16,17,18 @ RDF LINE 10,11,12,13 @ RDF LINE7,89 @ RDF LINE5,6 @ RDF LINE 12,3,4 Strictly Private & Confidential usUn fills Iwau twas drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. 27
Slide 28: Carbon Credit Verification
Carbon Credit Verification SSS 585858585, S90—0—0—6—0—00(0“@$@$9$9$8980—0—_—0@0,.0,NNaaoaoaum : ; uSUn Awl Iwau twiwas d1ria (un wu) _ iW TPI POLENE POWER PUBLIC CO.,LTD. :
Slide 29: RDF Supply for Cement Kiln Plants
To) RDF Supply for Cement Kiln Plants * RDF requirement for coal replacement in 4 Kiln Plants * Production and Selling RDF to TPIPL is approx. 400,000 Ton per year * Investment of RDF plant 1,200 Mil Baht, BOI Tax Incentive 8/5 year * Estimate RDF revenue 350-450 Mil baht per year * Cement KILN 3 an
Slide 30: RDF Selling to TPIPL (Ton)
RDF SELLING TO TPIPL (Ton) K2-K3 -K4 K3 ; se Qi/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Tn rina & Confidential usUn AWla Iwau twias d1fia (UK wu) _ NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 31: Carbon Credit Verification
Carbon Credit Verification Carbon Credit T-VERs Registered by TGO RDF Production From MSW 1. July 2015 - May 2016 13,483 tCO,eq 2. May2016 —Apr 2017 68,573 tCO,eq 82,056 tCO,eq 3. Sold out to Zukunft des Konlentoffmarktes - 39,197 tCO,eq 4. Remain 42,859 tCO,eq 5. Under Verification May 2018-Dec2021
Slide 32: RE100
RE ECE RE100 is the global corporate renewable energy initiative bringing together hundreds of large and ambitious businesses committed to 100% renewable electricity. usUn fills Iwau twas drfia (un wu) i ] ie i 32 Sear a ape a coniriceanitic TPI POLENE POWER PUBLIC CO.,LTD.
Slide 33: Renewable Energy Certificate (REC)
f F G C lususeuATAAMsHAAWAINIMnYUIIsY \ yd (Renewable Energy Certificate : REC) Renewable Energy Certificate (REC) via ususasniawamwaser mquery unalnidoe lignanuacd tlhaianisna wanansnanuacnis i lnyaaN WAN IUUNWIEY AINITILTAVINULIEN UN LATANAUUNIEVINA ANNAN AeA ULA~ vy WihamanaalWrainwaswuyquddun wn
Slide 34: mesutalwwisvevauwasassasaaru
Strictly Private & Confidential mesutalwwisvevauwasassasaaru ¢ a yv 7 VMANLQBUAIUWAWNIU nemo thihosdeuveuscinntee ie lino tes moiudelitncedumorsivecummaigniudundeeruringaeltihnedin tear tenet neerhat Lett werent vanhadeuivty > fh mi Terrace 1 toeckr laedjadeaimineate Beret deisahe utivian Fwcind Foe
Slide 35: vg | c a vv y
vg | c a vv y mesutalnWissavaunWarassasanunisan bLQUAIUWANIU 1. me*utalWihaeasauWasassasamumeniqnaumunasrusingdaalweh iJ a «a wee & % x via T1EKAN WaLANIINAAM WH aeANvinaAUAaanealwwiavuaNn - T63 is8Mw —— 20 MW. + 2 MW. - TG5 55 MW. 60 MW. + 5 MW. - TG646 9S0MW. 100 MW. +10 MW. _> Total 163 MW. > 180
Slide 36: vg | c a vy y
vg | c a vy y mesutalnWissasauwarassasanunisan bLQUAIUNWAINIU y vag eo a ce a ew va 2. mesutalnMievarauWararsasamUuNisManaumuNaasUringsaAlHAy & cya Po iJ va 11a % y T1EAN WNaLANIINdAM WA srevANsiNdAAAN NAY aaneanunrs ww - 1G1 20 MW. ——- 20 MW. en 2 20 MW. —_ 20 MW. = [RSs 70 MW. aaa 40 MW. Total 110
Slide 37: wa Ey a c a yv a
wa Ey a c a yv a mesutalwwisasau twas AIFAIAHNIUNIFMAN LQUAIUWANIU 1. inna Ngan lWsenansinagyargaqe laa +20% wari7MW. 6 = anu salimau 2. NLA INAAM WT sELansinaqMeyrsaqe lWrraiulun +50% was s0 MW. 64 aanuunnmainau ERT artes & Confidential usUn AWla Iwau twias d1fia (UK wu) - NAN A laa TPI POLENE POWE
Slide 38: New Prospective Projects
oy New Prospective Projects a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) a NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 39: New Prospective Projects
NEW PROSPECTIVE PROJECTS MSW Incinerator Other Renewable EV Charging Stations usUn fills Iwau twas drfia (un wu) Sear a ape a coniriceanitic TPI POLENE POWER PUBLIC CO.,LTD. claae 39
Slide 40: New Prospective Projects
NEW PROSPECTIVE PROJECTS Qiysaetaramsye 1. ania NISVIIIWAVITU nuy. atu 29 wang 2565 tWaruiugau LNUNISINUNISHAAM INA aIAWAVNIUAZOIA MutdunY PDP2018 Rev.1 Wu2iavil 2564 — 2573 I (lsualsorviadia) WasNUUAWind | 45 10 34 300 400 | 666 600 | 700 | 800 | 900 | 4,455 wassuay favtanw gawa 150 150 | 75 70 40
Slide 41: New Prospective Projects: MSW Incinerator Power Plants
NEW PROSPECTIVE PROJECTS MSW Incinerator Power Plants } ¢ Phase 1: The Energy Regulator Commission (ERC) is expected to announce 34 MSW Power Plants in approved list (282.98 MW. total) - Songkhla 7.92 MW. q - Nakhon Ratchasima 9.9 MW. q - 4 Other Potential Projects 4x8 MW. * Phase 2: MSW Power Plant
Slide 42: New Prospective Projects: Solar Power Plant
NEW PROSPECTIVE PROJECTS Solar Power Plant * ERC plans to announce 3,368 MW of new Solar Power Plant during 2022-2030 according to PDP2018 Rev.1 * TPI group owns over 15,000 rai of land in strategic locations across the country which may accommodate +1,500 MW solar farms o Songkhla o Rayong 0. Sarab
Slide 43: New Prospective Projects: Saraburi Solar Farm Phase 1
NEW PROSPECTIVE PROJECTS Solar Power Plant y Independent Power Supply (IPS) to TPIPL Saraburi Solar Farm Phase 1 Net Capacity : 42 MWac (76,140,000 kWh / year) Expected COD : 2023 Investment : 1,400 million Baht Estimate Revenue : 300 million Baht / year usUn fills Iwau twas drfia (un wu) Strictly P
Slide 44: New Prospective Projects: New Renewable Power Plant
NEW PROSPECTIVE PROJECTS New Renewable Power Plant y * Industrial Waste Power Plant PDP 200 MW. Target 40 MW. * Wind Turbine Power Pant PDP 1,500 MW. Target 300 MW. a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) - NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 45: New Prospective Projects: EV Charging Station
NEW PROSPECTIVE PROJECTS EV Charging Station 1. TPIPL Cement Quarry Charging Station * Trucks and Heavy Equipment in TPIPL Cement Plant © 40 Electric Dump Trucks by 2023 © 20Heavy Equipment for Quarry by 2024 o Fully electrified by 2025 * 30 Charging Stations with 350 kw Changer by 2023 a inte & GCo
Slide 46: New Prospective Projects: MEGA Charging Station
NEW PROSPECTIVE PROJECTS = = EV Charging Station 2. MEGA Charging Station Cement and Raw Materials Transport * TPIPL Cement Transport 200 pass per day * TPIPL Cement Customer Truck 1,000 pass per day * Raw Material and Coal Transport 300 pass per day * MSW and RDF Raw material Transport 700 pass per
Slide 47: Power Plant Installation Capacity (MW)
TPP NEW PROSPECTIVE PROJECTS POWER PLANT INSTALLATION CAPACITY ( MW.) 1,606+ 606 510 a TOTAL 440 oo = _— s70 1370+ SPP-VSPP iso 2022 2023 2024 2025 2030 ERT artes & Confidential usUn fills Iwau twas drfia (un wu) _ a dali ae TPI POLENE POWER PUBLIC CO.,LTD.
Slide 48: Mission to No Emission
SA Mission to No Emission a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) _ NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 49: CSR Activity - Covid-19 Waste
@ CSR Activity- Covid-19 waste Strictly Private & Confidential TPI POLENE POWER PUBLIC CO.
Slide 50: CSR Activity - Covid-19 Waste
© CSR Activity- Covid-19 waste Usunruug: COVID-19 000 Revenue 27.8 MB Revenue 15 MB 2,500 2,000 1,500 1,000 0 £0.64 2.A.65 1.W.65 31.A.65 (1.81.65 euana . usUn fills Iwau twas drfia (un wu) - TOES T Eade TPI POLENE POWER PUBLIC CO.,LTD.
Slide 51: 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 52: Mission to No Emission
ro) Mission to No Emission & 220 / 440 . 2 & e 150 / 510 a "YY @ 0 / 606 . Poo To be Green Power Plant - Zero Coal a inte & GConridantial usUn AWla Iwau twias d1fia (UK wu) i NAN A laa TPI POLENE POWER PUBLIC CO.,LTD.
Slide 53: 8,500 Ton / Day
8,500 Ton / Day 17,000 Ton / Day 2.5 mil Ton / Year 5.2 mil Ton / Year 5.8 mil Ton-CO, 12.0mil Ton-CO, Strictly Private & Confidential usUn fiWla Iwau twibas dria (un wu) TPI POLENE POWER PUBLIC CO.,LTD. 53
Slide 54: EU Carbon Permits
EU Carbon Permits Eee CARBON CREDITS EU Carbon 1D ~~ @ Se Permits EU Carbon Permits (EUR) $1.75 -0.95 (-1.80%) Voluntary Carbon Market: Voluntary Carbon Markets enable carbon emitters to offset their unavoidable emissions by acquiring carbon credits generated by initiatives aimed at removing or decr
Slide 55: Mission to No Emission
ro) Mission to No Emission amUulneweuu [dus:1Gudayaduavudaaau avaU wa=sssuTAUIAa (Environmental Social and Governance: ESG) DINMWsoUWaMsaitGuUVIUMU ESG U 2563 Tastécia3a WFE ESG Metrics d1udu 30 dé3a vavaUIWuSsaalaHaNNnswélan (World Federation of Exchanges) asunztuula lagtuniwsou WanisUs:10UMU ESG U
Slide 56: usUn fiWla Iwau twias d1Fa (URIwU)
Strictly Private & Confidential usUn fiWla Iwau twias d1Fa (URIwU) TPI POLENE POWER PUBLIC CO.,LTD. 56
Slide 57: International Finance Awards 2021
UPFENANCE INTERNATIONAL FINANCE AWARDS 2021 tee eee IPI Polene Power Public Company Limited (TPIPP) Most Innovative Initiative towards Waste Processing Plant Thailand ee ee Strictly Private & Confidential usUn fiWla Iwau twibas dria (un wu) TPI POLENE POWER PUBLIC CO.,LTD. 7
Slide 58: Mission to No Emission
Mission to No Emission GedUN ae Less | & TGO T-VER = ce PX EX Oleic WN ESG100 6 ] V- Oo YW 5 Zp G ae Environmental « Social - Governance CSR-DIW S Green Industry Sy AWARD 5) renee THAILAND E NERG Y ASEAN Centre for Energy One Community for Sustainable Energy Ml CREATIVE ENERGY CATEGORY ERT artes & C
Slide 59: Strictly Private & Confidential
Strictly Private & Confidential 59
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