Tpi Polene Power Public Co., Ltd. · SET:TPIPP
Tpi Polene Power Public — Q3 2022 Earnings Presentation
48 slides from Tpi Polene Power Public's earnings presentation, 2022
Slide 1: Slide 1
Slide 2: Table of Content
Table of Content se Company & Business Overview “alll Financial Highlights wi 5 C4 Key Operation Highlights £Or Mission to No Emission usin fiWla wau twias difia (Un wu) TPI POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential
Slide 3: Core 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: What We Stand For
@ What We Stand For Driving and expanding businesses using cutting ECHNOLOGY edge technologies and the latest techniques Produce the top, world-class products to satisfy RODUCT the customer’s needs in all areas of life Moving forward with the newest innovations NNOVATION through a top class R&D faci
Slide 5: TPIPP's Vision and Mission
TPIPP ‘S Vision and Mission usin fiWla wau twias difia (Un wu) - 5 oe aga are & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 6: TPIPP as TPIPL's Flagship for Power Business
rH) TPIPP as TPIPL’S Flagship for Power Business Unit : THBmm TPIPP TPIPP (Q3 2022) (9M 2022) Electricity generation from waste : , heat and refused derived fuel (RDF) Main Business pose power plants and operation in petrol and gas stations. Total Revenue 2,409 7,982 Operating EBITDA * 845 3,084 a E
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 = MSW = Others * Alternative Fuels MSW Plant 520 60 * Renewable Energy Power Producer SPP VSPP * Power plant IPS (Independent Power Supply )
Slide 8: Financial Highlights
| Financial Highlights usin fiWla wau twias difia (Un wu) : ; A : aeeeueeecre = Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 9: 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) -10.5% _, 3% aan) YoY =-212%, QoQ = -9.8% 79.7 7,2293 8, _— ™ ' ie 76652 | ass 2,754.8 ' 1 i 2,407.3 2,171.6 ' i 43.0 H + BOO
Slide 10: Cost of Sales & Gross Profit
Cost of Sales & Gross Profit Q3 Y2022 Cost of Sales Breakdown (THBmm) Gross Profit (THBmm) and Gross Profit Margin" (%) Energy & Utilities: 45.2% ; . | 385% sie 3,8223 \ 2 34.9% materials & — 1.5% ' ee Fuel 49.6% i. 3 as ' it . Labor 8.6% H =UN Maintenance \ pe 6.9% ' a 1 243.8 | 14.7% Waste Heat ‘4
Slide 11: Cost & Expenses vs. EBITDA & NPAT
GS cost & Expenses vs. EBITDA & NPAT Cost & Expenses Items (THBmm) Operating EBITDA" (THBmm) and Operating EBITDA margin®! (%) 49.0% ' 5 40.2% 43.0% Chess 36.4% 65'5 a ——_—_—___* 08.4 ES co 9M 2021 9M2022'' Q32021 Q22022 Q32022 lm Operating EBITDA —=—Operating EBITDA Margin Operating NPAT (THBmm) an
Slide 12: Comparing Profit and Loss Statement — YoY and QoQ
rH) Comparing Profit and Loss Statement — YoY and QoQ Unit -THBmm 2 2022 2021 2022 Compare (%) 9M 9M Q3 Q2 YoY (Q) QoQ Income Revenue from base tariff 42649 4,032.5 | 1,453.9 1.2628 1,269.8 54% 12.7% 0.6% Revenue from power adder 3,729.8 2,922.7; 1,257.9 1,042.6 828.1 21.6% -342% — -20.6% Other Sale
Slide 13: Generated Amount of Electricity and Capacity
2021 2022 Diff %Change Q3 565.64 403.79 -161.85 -28.61 9M —‘1,672.86 1,365.51 Q2 2022 3M — 438.62 Q3 2022, 403.79 -34.84 -307.35 -18.37 Diff ‘%Change -7.94 6 181.4878 33 egere ee gee & eae a8 6&6 3 & &6&sos8s o> & S S——————eo®<®=S=S$S$s$$q$MS NSD Biel Private & ane usUn AWla Iwau twiwas dia (UK WU)
Slide 14: Debt Profile and Leverage Ratios
rH) Debt Profile and Leverage Ratios Cash / Cash Equivalents & Other Interest Bearing Liabilities (THBmm) current financial assets (THBmm) Net Interest Bearing Liabilities (THBmm) 20,8033 6.6836 PeALe 16,174.0 1,749.5 12,899.7 4,4246 9,612.8 3,340.3 3,286.8 | all | L J | 2019 2020 2021 9M2022 2019 2
Slide 15: COD and ADDER Schedule for each plant
@ 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 2 55 MW TGS 6 Aug 2015 7Y AUG 2022 3 90 MW TG4+TG6 18APR 2018 PANS APR 2025 esis eric usin fiWla wau twias difia (Un wu) _ cent certo TPI POLENE POWER PUBLIC CO.,LTD.
Slide 16: Projected Additional EBITDA in Yr. 2022
@ Projected Additional EBITDA in Yr. 2022 1,233.9 1,029.6 168.0 Adder 18 MW Adder 55 MW 363 i T T T ————— T Co T 1 [ ] FT RDF TPIPL Coal Cost Saving 435.3 ‘ ; (536.8) (972.1) FT Sep-Dec22 +468.9 MB SS Ganfidentiol usin fiWla wau twias difia (Un wu) i aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 17: Sell for SPP Trend of FT Adjustment
Sell for SPP Trend of FT Adjustment 1.0000 FT-Q4/22 +0.7034 B/kwh a 4A 0.7996 Ss a ye 0.4000 a 0.2000 0.0000 _ / 0.0962 ~~ ea. 2 F ey 2 nin Po iva © co's ol e Pid -0.1440 e@ ia -0.2000 -0.2250 \ ~0.3516 / “gaaea -0.4000 =0:3404 on -0.6000 usin fiWla wau twias difia (Un wu) Strictly Private & Confide
Slide 18: Trend of FT Adjustment Sell for TPIPL
Trend of FT Adjustment Sell for TPIPL FT-Q4/22 +0.6866 B/kwh 0.9343 0.4000 0.2477 0.0000 0.0139 Jan-20 _5 yeMay Sep Jan-21 May Sep Jan-22 May Sep Jan-23 aac usin fiWla wau twias difia (Un wu) ge red Confidentiol TPI POLENE POWER PUBLIC CO.,LTD. >
Slide 19: Key Operation Highlights
Key Operation Highlights SS Ganfidentiol usin fiWla wau twias difia (Un wu) a aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 20: NEW Power Purchasing Agreement (PPA)
NEW Power Purchasing Agreement (PPA) IPS to TPIPL - Solar and Wind usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential 20
Slide 21: MSW Disposal to WTE (Ton/Day)
MSW DISPOSAL TO WTE (Ton/ Day ) 2011 2014 2016 2022 2023++ usUn fiWla Iwau twias drfia (un wu) : ; A ¥ aeeeueeecre = Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 22: Coal Replacement for Power Plant
COAL REPLACEMENT FOR POWER PLANT 1* Phase Coal Replacement * Coal Replacement 15 % Saving fuel cost 10 MB per Month COD Sep 2022 lacement | Coal Replacement 15 % Saving fuel cost 110 MB per Month COD OCT 2022 ae usUn fiWla Iwau twibas d1fla (UHIWwU) bs acu ory oticler TPI POLENE POWER PUBLIC CO.,LTD
Slide 23: Saving fuel cost EBITDA +200 MB per Month
¢ Saving fuel cost EBITDA +200 MB per Month * COD 4 unit AUG 2024, 5‘ unit NOV 2024, 6 unit APR 2025 Biel Private & ane usUn AWla Iwau twiwas dia (UK WU) = ish TPI POLENE POWER PUBLIC CO.,LTD.
Slide 24: Coal Replacement
@ COAL REPLACEMENT Coal Replacement for Cement Plants * Production and Selling AF to TPIPL is approx. 400,000 Ton per year * Estimate MSW AF revenue 400 Mil baht per year a usin fiWla wau twias difia (Un wu) TP! POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential 24
Slide 25: IPS to TPIPL - Solar and Wind
IPS to TPIPL - Solar and Wind IPS to TPIPL - Solar and Wind SOLAR FARM Saraburi Solar Farm Phase Installation 61.226 MWp Net Capacity : 57.42 Mwac 92,000,000 kWh / year Expected COD : 2023-2024 * Investment: 1,700 million Baht Estimate Revenue : 400 million Baht / year SS Ganfidentiol usin fiWla wau
Slide 26: IPS to TPIPL - Solar and Wind
IPS to TPIPL - Solar and Wind IPS to TPIPL - Solar and Wind Wind Turbine * Installation 5 MW. * 10,000,000 kWh / year * Expected COD: 2024 * Investment:180 million Baht * Estimate Revenue: 20 million Baht / year esis eric usin fiWla wau twias difia (Un wu) = a Ne ad Senses TPI POLENE POWER PUBLIC CO
Slide 27: TPP NEW Power Purchasing Agreement (PPA)
TPP NEW Power Purchasing Agreement (PPA) NEW Power Purchasing Agreement (PPA) f. 4 ¥ ¥ remain atihdhesdeusercnnlne Viemamabnharodeusieusemnnne a in nto 4 drotod for emiudaltincerdutorodiuarmunmaigndudrunderuongadelwi rede itor miivdolwanrurduiorrivecumedgndudmndseudwiuduialyirodin: woongeie A Tuideq
Slide 28: NEW Power Purchasing Agreement (PPA)
rH) NEW Power Purchasing Agreement (PPA) NWN. DUTAQaLWauTsvs-:UUAIHSU msuislwwi diusdu 40 MW. MSSUBdIWW1S-8=auLWaSDVSDV amumsmdaqnidumuwavviu SS Ganfidentiol usin fiWla wau twias difia (Un wu) - aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 29: NEW Power Purchasing Agreement (PPA)
@ NEW Power Purchasing Agreement (PPA) ee Confidential usUn fiWla Iwau twias drfia (un wu) - aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 30: NEW Power Purchasing Agreement (PPA)
@ NEW Power Purchasing Agreement (PPA) MSW Incinerator Power Plants usUn fiWla Iwau twias drfia (un wu) ictly Pri fidenti 30 oe aga are & Confidential TPI POLENE POWER PUBLIC CO.,LTD.
Slide 31: Mission to No Emissions
Mission to No Emissions Ehethi private & Confidential usUn fiWla Iwau twibas d1fla (UHIWwU) 7 —- TPI POLENE POWER PUBLIC CO.,LTD.
Slide 32: CSR Activity- Covid-19 waste
@ CSR Activity- Covid-19 waste usUn fiWla wau twas drfia (UHI TPI POLENE POWER PUBLIC CO.,L Strictly Private & Confidential
Slide 33: CSR Activity- Covid-19 waste
© CSR Activity- Covid-19 waste — Usuiruug: COVID-19 3M-Y20213,892 ton 9M-Y2022 13,035 ton 000 Revenue 15.0 MB Revenue 50.2 MB 2,000 tlalltiat a.A.64 w.9.64 764 u.A65 nwé65 0.7.65 w9.65 wA65 069.65 nAa65 aAn65 7.9.6! 2,500 f@ USuntu (cu) ee Confidential usin fiWla wau twias difia (Un wu) - —a—a- TPI
Slide 34: Mission to No Emission
@ Mission to No Emission @ 220/440 B @ e 150 / 520 Ge "YY @ om Sim To be Green Power Plant - Zero Coal SS Ganfidentiol usin fiWla wau twias difia (Un wu) - aie TPI POLENE POWER PUBLIC CO.,LTD.
Slide 35: 8,500 Ton / Day
8,500 Ton / Day 17,000 Ton / Day 25 mil Ton / Year 5.2 mil Ton / Year 5.8 mil Ton-CO, 12.0mil Ton-CO, 35 Strictly Private & Confidential usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD.
Slide 36: Value of Carbon Market Update 2022
J Value of Carbon Market Update 2022 _ EU Carbon Permits 13:5597 OT oe = G CARBON CREDITS Q EU Carbon Dp ww @ — Permits Voluntary Carbon Market: Voluntary Carbon Markets enable carbon emitters to offset their unavoidable emissions by acquiring carbon credits generated by initiatives aimed at removin
Slide 37: usUn fiWla Iwau twias drfia (un wu)
Strictly Private & Confidential usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. 37
Slide 38: 38
38 Strictly Private & Confidential
Slide 39: Carbon Credit Verification
@ Carbon Credit Verification Carbon Credit T-VERs Registered by TGO MSW Received 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. Approval Credit 717,931 tCO,eq 6. Total Carb
Slide 40: TPP Carbon Credit T-VERs Verification
TPP Carbon Credit T-VERs Verification sibilant C , : ne ey imam ssamsataunssn (asNIsHMIH) SIP vexouTuvseninfnstiqaultiuc utin file Iwaw woes dm (anew) Wow Tasemrsmisniiaouniivuus (ROF) sinvusyadaw HEN (RDF Production from Municipal Solid Waste) Tau siiventinathwteunsen mutilasensaniatounssenmamiaste
Slide 41: Environmental Social and Governance: ESG
Environmental Social and Governance :ESG The Thaipat Institute evaluate the information relating to Environmental Social and Governance or ESG from TPIPP’s actions 2020 by using the 30 indicators of WFE ESG Metrics from the World Federation of Exchanges. In conclusion, the ESG evaluation standard of
Slide 42: usUn AWla Iwau twidas d1Aa (UK WU)
Strictly Private & Confidential usUn AWla Iwau twidas d1Aa (UK WU) TPI POLENE POWER PUBLIC CO.,LTD. 42
Slide 43: International Finance Awards 2021
ugh INANCE INTERNATIONAL FINANCE AWARDS 2021 tee eee TPI Polene Power Public Company Limited (TPIPP) Most Innovative Initiative towards Waste Processing Plant Thailand week ae Strictly Private & Confidential usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. 43
Slide 44: International Finance Awards 2022
UhFNANCE AWARDS 2022 ke kk o o THAILAND DU EINANCE INTERNATIONAL FINANCE AWARDS 2022 teehee IPI Polene Power Public Company Limited Has bce ae Most Innovative Green Prac Towards ESG Waste Management Thailand tee eee Strictly Private & Confidential
Slide 45: Global Economics Awards 2022
BEST PRODUCT WATIONS FOR SUSTAINABLE DEVELOPMENT AWARDS 2022 By GLowal Economic AWARDS 2022 1H POLENE POWER DEVELOPMENT THAHANE LOBAL CONOMICS AWARDS 2022 3 y THIS IS TO CERTIFY THAT HAS BEEN AWARDED FOR THE Contact usUn fiWla Iwau twias drfia (un wu) Strictly Private & Confidential TPI POLENE POWER
Slide 46: SET Certificate of Recognition THSI 2022
@SET Certificate of Recognition TPI POLENE POWER PCL ected as a member of Thailand Sustainability Investment (THSI) for the year 2022 OR Yuth Vorachattarn Pakorn Peetathawatchai usUn fiWla Iwau twias drfia (un wu) TPI POLENE POWER PUBLIC CO.,LTD. Strictly Private & Confidential
Slide 47: Mission to No Emission
Mission to No Emission ESG100 G mm Environmental « Social - Governance CSR-DIW 5 Green Industry naulesenugaermndes ASEAN Centre for Energy One Community for Sustainable Energy Ml CREATIVE ENERGY CATEGORY BR priate = Confidential usUn AWla Iwau twiidas dia (UK wu) 7 oe TP! POLENE POWER PUBLIC CO.,LTD
Slide 48: Thank you
Thank you Strictly Private & Confidential 48
TPI Polene Power Public Company — Q3 2022 Earnings Presentation on 6ix