Chow Bright Ventures Holdings Public Company Limited · SET:CHOW
Chow Bright Ventures Holdings Public — 1H 2026 Earnings Presentation
30 slides from Chow Bright Ventures Holdings Public's earnings presentation, Aug 28, 2026
Slide 1: Earnings Call | 1H 2026
EARNINGS CALL | 1H 2026 28 Aug 2026
Slide 2: Agenda
D A AGENDA 2
Slide 3: Agenda
A B C D Business 1H 2026 2026’s Jump+ Overview Financial Target Performance & ESG Page Page Page Page 4 16 22 25 3
Slide 4: Business Overview
ABCD 1Half Forward AGENDA Q&A Operating Looking Business Result Overview Page Page 26 29 & ESG 4
Slide 5: Stock Information
Stock Information Shareholding Structure : as of Mar 31, 2026 Stock Information Symbol CHOW Trade Market MAI (December 24, 2011) Industry Industrial Registered & Paid up capital 800 Btm 70.0% Jiratomsiri Family Market CAP 1,032 Btm 30.0% Others P/E 17.95 P/BV 0.48 Source: www.set.or.th dated 25 Aug
Slide 6: Our Journey
Our Journey 2003 - 2007 Establishment of CHOW as a steel billet producer and distributor - total license capacity of 730,000 tons/ year with BOI privileges - ISO 9001 2009 Became a listed member of London Metal Exchange (LME) 2011 Listed on the Market for Alternative Investment (MAI) 2013 Diversify
Slide 7: Updated Group Structure
Updated Group Structure CHOW Bright Ventures Holdings PCL. 99.9% 99.9% 76.0% 87.36% Chow Steel Captain Cash Chow Energy CBVH Trading BlackRock Manufacturing Holding Plc. 99.9% 51.0% 49.0% Thailand Thailand Oversea Renewable Renewable Energy Energy Group Group Australia Japan Type of entities Incorpo
Slide 8: Core Business - Steel
Core Business - Steel STEEL BUSINESS Certificate and licenses Thai Industrial Standards Institute (TISI) Manufacture License of Industrial product - Round Bars (RB6 RB8 RB9 RB10) Manufacture License of Industrial Product - Deformed Bar Manufacture License of Industrial Product - Low Carbon Steel Wir
Slide 9: Core Business - Energy
Core Business - Energy Energy Business EPC PPA EPC Service Private PPA Smart Investment Zero Investment Chow Energy invests, own, Purchase our operate, and O&M system Key Features system and enjoy while customer enjoys maximum savings discount electricity price Investment Competitive Cost Zero inves
Slide 10: Core Business - Energy: We Grow Sustainably
Core Business - Energy We Grow Sustainably Energy Business Thailand’s leader of secured capacity of private PPA and geographically dispersed across Thailand > 300 MW ▪ Incorporated in Thailand in 2014, Chow Energy is an owner, operator and developer of solar PV power PPA projects in Thailand, Japan
Slide 11: Core Business – Energy
Core Business – Energy Energy Business Our business model is organized into 4 key business areas, vertically integrated in order to define and strengthen our offer as a group: Project Equipment Development Distribution • Identify best location • Tier-1 manufacturers at • Secure the site your fingert
Slide 12: Core Business – Energy
Core Business – Energy Energy Business All equipments are selected with best quality and best price from our strong supplier relationship PV Panel: Choose a quality solar panel (Tier 1 Rating) with good reliability, warranty and efficiency Product Warranty:12 years, Performance Warranty: 25 years In
Slide 13: CHOW Growth Sustainably : ESG
CHOW Growth Sustainably : ESG +88 Megawatts 2026 target for new PPA project in 10,000 Solar Thailand. systems CHOW group will have 320 Mb Chow operates solar secure megawatts at energy system with Cumulative money 198 Mw by end of 1H various sectors of saving from electricity 2026. 38,810,260 expens
Slide 14: CHOW Growth Sustainably : ESG
CHOW Growth Sustainably : ESG Steel Business Energy Business Carbon footprint Make a big impact Certificates for all with professional round bar products slides and charts. issued by TGO ESMS: Environmental Safety Management System 14
Slide 15: CHOW Growth Sustainably : ESG
CHOW Growth Sustainably : ESG Received an excellent rating of 5 stars CG Scoring by IOD CAC Certificate Renewable Energy Deal of the Year Collective Action Against Corruption The Asset Triple A sustainable Infrastructure Awards 2023 NACC Integrity Awards 5 Stars rating of 2025 AGM Quality Assessment
Slide 16: 1H 2026 Financial Performance
B CD Q&A Forward AGENDA Looking 1H 2026 Financial Performance 16
Slide 17: 1H 2026 Financial Performance
1H 2026 Financial Performance Lower revenue from trading Total Revenue [Mb] Revenue [Mb] Steel BU: 800 739 Mb • Fully operation as usual 700 49 o Lower production in Q1 and gradually increased in Q2 34 600 447 Mb o Product quality improvement 500 300 43 • Lower volume from trading Mb 400 8 300 281 2
Slide 18: 1H 2026 Financial Performance
1H 2026 Financial Performance Lower revenue while improving gross and EBITDA margin Total revenue 1H 2025 Total revenue 1H 2026 Revenue_1H 739 Mb 2024 Revenue_1H 447 Mb2025 800 500 49 43 700 34 450 300 281 8 10% 400 600 1% 5% 7% 20% 350 500 300 40% Mb 400 250 Mb 356 300 200 150 115 200 69% 100 100 4
Slide 19: Secured and Pipeline MW toward 1GW Milestone
1H 2026 Financial Performance 305 MW from secured and pipeline toward 1GW milestone Energy Solar Development Secure Portfolio [198 Mw] Pipeline [107 Mw] Japan Overseas, Australia 32 , 16% Solar Farm C&I Thailand , 166 , 84% 19
Slide 20: 117MW COD and Higher Profit Sharing
1H 2026 Financial Performance 117MW COD and higher profit sharing Energy Solar Development COD Megawatts 140 120 114 117 101 104 100 83 85 Megawatts 80 72 64 60 48 39 40 31 31 33 34 35 19 20 14 7 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 22 22 22 22 23 23 23 23 24 24 24 24 25 25 25 25
Slide 21: Growing Portfolio with a Disciplined Capital Structure
1H 2026 Financial Performance Growing portfolio with a disciplined capital structure Statement of Financial Position | Key Financial Ratio Statement of Financial Position: Mb Key Financial Ratios 2022 2023 2024 2025 1H2026 3,500 3,014 3,014 Current ratio 0.94 1.54 1.29 1.27 1.13 3,000 2,777 2,777 D/
Slide 22: 2026’s Target
C D AGENDA Q&A 2026’s Target 22
Slide 23: 2026’s Target: Steel Business
2026’s Target Steel Business 1 INCREASING SALE VOLUME & MARGIN TRADING 2026: Sale volume 30,000 Tons SERVICE 2026: Produce long products 400,000 Tons Key Drivers Streamline production process with cost efficiency Chow products has lowest carbon emission in the market 23
Slide 24: 2026’s Target: Energy Business
2026’s Target ENERGY Business 2 Operational Efficiency and Cost Management 1. Total secure PPA portfolio at 192 MW Secure Portfolio [198 Mw] Pipeline [107 Mw] Overseas, 32 , 16% Solar Farm C&I Thailand , 166 , 84% • Investment Grade Customer Acquisition • M&A Opportunity 2. Enhance System Efficiency
Slide 25: Jump+
D AGENDA JUMP+ 25
Slide 26: Jump+ Plan Progress Update
Jump+ Plan Progress Update Business Governance Climate Action EBITDA by business (Million Baht) Secured COD PPA portfolio (MW) Portfolio DSCR (times) Progress toward the 192 MW 2026 target Target band 1.2x – 1.3x 250 1.4 1.25 180 165.0 192 1.2 200 1.05 160 1.0 140 128.0 150 120 117 0.8 104 100 71.6
Slide 27: Jump+ Plan Progress Update
Jump+ Plan Progress Update Business Governance Climate Action Anti-corruption & fraud prevention Whistleblowing mechanisms FY2025 2026 6M/2026 FY2025 2026 6M/2026 On track On track Anti-corruption policy & practice established In progress Success Success Whistleblowing policy & reporting procedures
Slide 28: Jump+ Plan Progress Update
Jump+ Plan Progress Update Business Governance Climate Action CFO — Chow Energy PCL CFO — Chow Steel Manufacturing CFP — Chow Steel Manufacturing Organisation carbon footprint to TGO and ISO 14064-1 Organisation carbon footprint to TGO and ISO 14064-1 Product carbon footprint to TGO standards, 5 SKU
Slide 29: Q&A
Q&A Chow Bright Venture Holding Public Company Limited www.chowbright.com Tel: +66 2 033 0901 - 08 Chow Energy Public Company Limited www.chowenergy.co.th Tel: +66 2 033 0910 - 14 29
Slide 30: Disclaimer
Disclaimer The information contained in this presentation is strictly confidential and is provided by Chow Bright Venture Holding Public Company Limited (“Chow” or the “Company”) to you solely for your reference. Neither this presentation nor any part thereof may be (i) used for relied upon by any o
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