Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP

Siamgas & Petrochemicals Public — Q1 2019 Earnings Presentation

35 slides from Siamgas & Petrochemicals Public's earnings presentation, June 2019

1. Slide 1: Q1 2019 Performance

   & Inv @ Su S waite ©@ Genunw & anus o) yuu Q1|2019 PERFORMANCE me \' Sr

2. Slide 2: Disclaimer

   The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Siamgas and Petrochemicals Public Company Limited (“SGP” and shares in SGP, “shar

3. Slide 3: Agenda

   * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A

4. Slide 4: Latest book closing

   Latest book closing : On 8 MAR 2019

5. Slide 5: Sustainable growth

   Business acquisition Invest in Vietnam | Supergas Business acquisition 10 MW. Power Plant Founded Founded Singapore | Singgas Vietnam | Citygas N. and transmission line the company Marine & land logistic China | Sinosiam Malaysia | Mygaz in Myanmar SUSTAIN/ABLE 1 2 2 2 2 GROWTH 9 0 0 0 0 7 0 1 1 1 6

6. Slide 6: Business operation group

   BUSINESS OPERATION SnouP THAILAND LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) + Singapore * China ROAD TRANSPORTATION ce. Malaysia MARINE TRANSPORTATION * Vietnam COMBINE CYCLE POWER PLANT > a * Myanmar CYLINDER MANUFACTURING OIL RETAIL BUSINESS DIESEL POWER PLANT *~ + Myanmar CONTAI

7. Slide 7: Business update

   BUSINESS UPDATE ( SIAMGAS » Thailand MY Expand petrol with LPG stations. Currently opened 6 stations and 5 stations in pipeline. YI Expand Filling plants. » Overseas WY The Company is constructing terminal and filling plants in Myanmar. WY The Company is constructing filling plant in Penang Malaysia

8. Slide 8: Overseas business

   usiness usiness HO CHI MINH | SUPERGAS EAST MALAYSIA | MYGAZ SINGAPORE, TRADING BUSINESS | SGT (,

9. Slide 9: Agenda: Thailand business

   * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A

10. Slide 10: LPG supply chain

    COOKING INDUST. AUTOMOTIVE REFINERIES & SGP GAS SEPARATION LPG IMPORT PLANTS

11. Slide 11: Vessels, terminals, road tankers, filling plants

    25 8 500 vessels terminals roadtankers 5.Lampang 6.Khonkaen 4.Nakornsawan 1.Bangkok Floating Storage 2.Samutprakan 3.Chachoengsao 7.Suratthani FILLING PLANT & AUTOGAS STATION 8.Songkhla Company Filling Plants x 43 Agent Filling Plants x 144 Company Autogas Stations x 44 Agent Autogas Stations x 521

12. Slide 12: SGP's market share in Thailand

    SGP’s market share in Thailand 23.6% 24.1% 24.4% 24.6% YoY: Total -5.6% | SGP -6.1% 4,409 -5.3% 4,177 -1.6% 4,108 -2.4% 4,011 QoQ: Total -3.9% | SGP -3.4% 3,370 3,171 3,107 3,027 -3.3% 1,020 1,002 963 -0.4% -1.7% 1,039 1,005 1,001 984 767 757 726 253 246 237 2015 2016 2017 2018 1Q'18 4Q'18 1Q'19 SGP

13. Slide 13: SGP's market share in Thailand: Cooking

    SGP’s market share in Thailand 29.1% 29.3% 28.6% 27.5% 2,110 2,151 2,164 YoY: Total -2.9% | SGP -5.1% 2,094 +0.8% +1.9% +0.6% QoQ: Total -2.5% | SGP -2.3% 1,484 1,491 1,534 1,570 61% 547 545 531 +1.4% -0.4% -3.5% 610 619 616 594 394 396 386 153 149 145 2015 2016 2017 2018 1Q'18 4Q'18 1Q'19 SGP Group

14. Slide 14: SGP's market share in Thailand: Automotive

    SGP’s market share in Thailand 16.9% 16.7% 17.5% 19.5% 1,731 YoY: Total -12.6% | SGP -12.2% -15.3% 1,466 -10.0% -11.3% 1,319 1,170 QoQ: Total -7.1% | SGP -7.2% 1,439 22% 1,221 1,089 942 -16.3% -5.9% -0.9% 303 285 265 292 245 230 228 244 229 213 59 56 52 2015 2016 2017 2018 1Q'18 4Q'18 1Q'19 SGP Grou

15. Slide 15: SGP's market share in Thailand: Industrial

    SGP’s market share in Thailand 23.4% 23.6% 24.3% 23.9% YoY: Total -1.9% | SGP -1.4% 677 638 584 +2.8% 600 +6.3% +6.0% 17% QoQ: Total -3.2% | SGP -1.9% 483 515 448 459 170 172 166 +3.7% +9.3% +4.4% 155 162 129 131 126 137 142 41 41 40 2015 2016 2017 2018 1Q'18 4Q'18 1Q'19 SGP Group Others Total Indus

16. Slide 16: Agenda: Oversea business

    * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A _ LLM? 7 _ (4 oS

17. Slide 17: Historical CP price movement

    HISTORICAL CP PRICE MOVEMENT 4243 apeereee aM +385.0 2009 8 ys 2010 eee +387.5 £546 FSS TV" FES K 745 ~0-0-4 0-0-0099 DS of YO KA AL D So YC A AL FEMS EHF SF HV F FGF FEF EFSF HOY F FSS -130.0 +185.0 +1825 602.5 Ry Rare RY 3 RY 3 FEF TES IY FLO K FEF CTE SF OY F FEF FETE HF SF HV EF SISK FES TFS VL

18. Slide 18: 54.9 55.5 52.0 53.1 50.9 46.9 48.7 51.4 55.2 57.6 62.6 64.2 69.1 65.7

    54.9 55.5 52.0 53.1 50.9 46.9 48.7 51.4 55.2 57.6 62.6 64.2 69.1 65.7 66.7 71.8 77.0 75.9 75.0 73.8 79.1 80.6 66.0 57.7 60.2 64.4 67.0 71.6 70.3 61.5

19. Slide 19: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

20. Slide 20: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

21. Slide 21: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

22. Slide 22: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

23. Slide 23: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

24. Slide 24: Quarterly sale volume (tons)

    ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS)

25. Slide 25: Quarterly sale volume (MW)

    ANNUALLY | SALE VOLUME (MW.) QUARTERLY | SALE VOLUME (MW.)

26. Slide 26: Agenda: Financial results

    * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A LLL LL a. ay aa

27. Slide 27: Revenue portion

    REVENUE PORTION ; (@) GROUP u Thailand u Offshore Oversea business m Logistic 1/2018 Other (Service & Other & Dividend) Thailand 33.2% Oversea 66.8% 0.3% - | Q1/2019 Thailand 318% Oversea 69.2%

28. Slide 28: Full year and quarterly revenue

    FULL YEAR AND QUARTERLY REVENUE [BT.M] (@) mnt SIAMGARS Q1/2019 Consolidated revenue of Bt.17,756 m shows a 12.8% yoy growth — zo EEE] 757 48,378 684 36903 34,661 27,902 38,403 19,792! 2014 2015 2016 2017 Revenue by year 47,329 2018 10,521 B yoy (zen) ES “@ 10,803 13,807 12,197 12,294 Oversea Bg tae

29. Slide 29: Full year and quarterly EBITDA

    FULL YEAR AND QUARTERLY EBITDA [BT.M] Q1/2019 Consolidated EBITDA of Bt.1,050 m shows a +78.7% yoy growth EBITDA —@—EBITDA MARGIN mam EBITDA —@-EBITDA MARGIN i] 6000 | -12% 4 I 1400 | , 10% 5,193 I 1282 1223 I 1,200 | 5000 - | 10% 4 792% 1,050 [i | 1,000 4,000 - | 8% | 800 | 8% I 1% , I 600 Wh 3000

30. Slide 30: Gross profit margin & net profit margin

    GROSS PROFIT MARGIN & NET PROFIT MARGIN SIAMGAS GROUP Gross profit & Net profit by year Gross profit & Net profit by quarter 6,000 , 12% 1500 | 10% 1,227 (1) 5,000 APAT L 10% 8% 1,000 + (2) 4,000 8% 500 | 3,000 6% % 2% 2,000 4% _ 0% 112018 Q2/2018 + q3i2018 1,000 2% 2% (500) | 0% 4% 2014 2015 2016 2

31. Slide 31: Financial position

    FINANCIAL POSITION W ) SIAMNGAS ca ASSET (THB Mi LIAB! IES & EQUITY (THB Million) mCash & Equivalents Inventory Short term loan Current liabilities my Other asset PP&E mLong term Debt m Non current liabilities Total Equity Interest Bearing Deb’ es) 35004 34,103 35.804 34,103 183 2,849 2977 134 _— Se

32. Slide 32: Agenda: Business outlook

    * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A LLL a. ay aa

33. Slide 33: LPG sales volume (tons)

    LPG Sales Volume (Tons) SGP - Thailand SGP Offshore Trading China Vietnam Malaysia & Singapore 7.6% 2018 4.7% 2017 7.4% 2016 16.0% 2015 8.7% 2014 29.8% 2013 11.1% 2012 49.2% 2011 2010

34. Slide 34: Dividend history

    2018 0.25 0.20 2017 0.50 1.00 2016 0.15 0.35 2015 0.20 0.30 2014 0.15 0.20 2013 0.10 0.50 2012 0.15 0.25 2011 0.15 0.30 Interim 2010 0.20 0.30 Final 2009 0.20 0.30 2008 0.15 0.25 SGP split par from Bt1.00 to Bt 0.50 in May 2018

35. Slide 35: Questions are welcomed!

    ° @ @ QUESTIONS ARE WELCOMED !

Siamgas and Petrochemicals Public Company — Q1 2019 Earnings Presentation on 6ix