Corporate Presentation November 2025

Corporate Presentation

30 November 2025 AA

Financial Performance

Project Updates

Outlook & Strategy

"Energizing Today For A Brighter Tomorrow"

Financial Performance

Apex Clean Energy

Pinnacle II Portfolio: Completion of Investment

Linden Cogen:

Increased Ownership to 38%

• Profit Sharing in Q3/2025 was 2,342 MB, decreased by 32% YoY

• Operating Profit in Q3/2025 was 844 MB, decreased by 77% YoY

• Net Profit in Q3/2025 was

  -656 MB, decreased by 127% YoY

• 2 Additional projects of APEX achieved COD :

  1. Angelo Battery Storage, 100 MW battery project COD on 31 July 2025

  2. Wheatsborough Solar, 125 MW solar project COD on 15 August 2025

     • Pinnacle II has a total capacity of 251 MW, in which EGCO holds a 49% stake

       1. Downeast Wind, 126 MW, completed its acquisition on 13 June 2025

       2. Wheatsborough Solar, 125 MW, completed its acquisition on 26 September 2025

     • EGCO signed an Equity Purchase Agreement on 3 October 2025 to acquire an additional 10% stake in Linden TopCo LLC, raising its ownership in the 980 MW Linden Cogen plant to 38%

     • The investment strengthens EGCO's U.S. gas portfolio and reinforces its strategic presence and growth in the U.S. market

3

EGCO AT A GLANCE

Shareholders Structure

Company Information

NVDR

Foreign Investors

5.74%

4.46%

million shares

25.41%

Thai Investors 40.45% As of November 30, 2025

23.94%

TEPDIA

5 Business Line

The 1 power generating company in Thailand Listed on

DJSI Emerging Markets Index in Electric Utilities sector

For 5th consecutive years

st

1

2

3

6,738 MWe

As of 30 November 2025

57%

35%

7%

1%

Overseas

Thai IPP Thai SPP Thai VSPP

Independent Power Producer (IPP) Small Power Producer (SPP)

Very Small Power Producer (VSPP)

4

5

Overseas Power Producer

Other Businesses : Fin Tech, O&M, Innovation business, Management service, Oil pipeline, Industrial estate, Coal mining, LNG shipper, Water supply facility,

Tank rental, Jetty management service, Logistics 4

EGCO BUSINESS OVERVIEW

EGCO operates/invests in 3 key areas covering the value chain

1. Upstream

2. Midstream

3. Downstream

Supply

96%

of operating profit from

operating assets Q3/2025

Power Business

Customer Solution & Startup

Subsidiary

• Industrial Estate: ERIE • Management Service: QMS

  IPP

  SPP

  VSPP

  Overseas

• LNG Shipper License

• KEGCO

  (KN4)

• CWF • BPU

• KLU • EGCO Cogen

  Replacement

  • Solarco

  • TWF

  • SPP2

• SPP3

• SPP4

• SPP5

  • QPL

    • O&M Power Plant Maintenance

      : ESCO, PEPOI

      JV Investment

      IPP

      SPP

      VSPP Overseas

  • Coal Mining

• Oil Pipeline • Water supply

  • KPG

  • GEC

  • GPS

• XPCL

• Linden Cogen

• Gangdong

  : MME

  : TPN

  facility: CDI

  • BLCP

• NED

  • NT1PC

  • NTPC

  • SBPL

  • Yunlin

• Marcus Hook

• Milford

• Dighton

• Downeast Wind

• CDI - KCE

• CDI - KPE

• CDI - Solar rooftop

  • O&M Power Plant Maintenance: E&E, RES

• Fin Tech: Peer Power

  • Tank rental: • Jetty

  • Logistics:

  • APEX

  • Wheatsborough

• CDI-Ground-

  • Innovation Business

    CDI

    management

    service: CDI

    CDI

    • PAJU ES

      Solar

      mounted Solar

      : Innopower

      5

      EGCO Group's Portfolio 6,738 MWe

      Xayaburi

      
      
      

      XPCL

      (1,280MW, 12.5%)

      Bolikhamxay

      NT1PC

      
      
      
      
      
      

      E&E

      46

      Power Plants

      Operating

      Under Construction

      6,626 MWe

      112 MWe

      GPS

      (26MW, 60%)

      Nakhon Sawan / Chai Nat / Phetchabun

      (645MW, 25%)

      (O&M, 40%)

      
      
      12

      Other Related Power Business

• Fin Tech, Innovation Business, LNG shipper

• Oil pipeline, Coal mining, Industrial estate

• O&M and Management service

• Water supply facility, Tank rental, Jetty service, Logistics

NED

(63MW, 67%)

Lop Buri

Solarco

Suphan Buri /

Nakorn Pathom

Laos

Roi Et

Khammouan

SPP5

(8MW, 100%)

NTPC

(1,070MW, 35%)

Gyeonggi

Paju ES

(1,823MW, 49%)

Seoul

Taiwan

Yunlin

(57MW, 49%)

TPN

(Oil Pipeline, 44.60%)

Saraburi

Thailand

Chaiyaphum

Si Sa Ket

SPP3

(8MW, 100%)

SPP4

(6MW, 100%)

South Korea

Gangdong

(20MW, 49%)

(640MW, 26.56%)

Taiwan Strait

SPP2

KPG

TWF

(7MW, 100%)

CWF

(80MW, 100%)

Marcus Hook

Maine

(8MW, 100%) (1,468MW, 50%)

Downeast Wind

Rayong

EGCO Cogen

BLCP

ESCO

ERIE

Solar

Wheatsborough

(912 MW, 50%)

(126 MW, 49%)

BPU

Ratchaburi

Replacement

(1,347MW, 50%)

(O&M, 100%)

(IE, 100%)

Biomass Natural Gas

Coal

Solar (125 MW, 49%)

Ohio

Pennsylvania

USA

Massachusetts

Dighton

(187 MW, 50%)

New Jersey

Milford

(205 MW, 50%)

(215MW, 100%)

Nakhon Si Thammarat

KEGCO(KN4)

(930MW, 100%)

Bangkok

(74MW, 80%)

Peer Power

(Fintech, 24%)

Innopower

(Innovation, 30%)

RES

(O&M, 60%)

Wind Farm

APEX

Virginia

Linden Cogen

YGP

Yala

Pathum Thani

KLU

Offshore Wind Farm Hydro

Fuel Cell

(1,863 MW, 17.46%) * 14 projects

CDI-Ground mounted

(980 MW, 28%)

South Sumatra

MME

(20MW, 50%)

(102MW, 100%)

Quezon

As of 30 November 2025

Battery Storage Other Business

Solar

(3.29 MW, 30%)

CDI - KPE

(63 MW, 30%)

Indonesia

(Coal Mining, 40%)

Philippines

QPL

(400MW, 100%)

SBPL

(455MW, 49%)

Project Under Construction

CDI - Solar rooftop

(2.24 MW, 30%)

CDI - KCE

(84 MW, 30%)

West Java

CDI - RPU / KTI / Logistics

(Tank and Jetty Service / Water supply / Logistics, 30%)

PEPOI

(O&M, 100%)

QMS

(Management, 100%)

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EGCO POWER PLANT PORTFOLIO

USA

1,374 MWe**

926 MWe

448 MWe

Including under construction projects

ISO-NE NYISO

PJM

Thailand

2,926 MWe

2,040 MWe

673 MWe

213 MWe

Laos

696 MWe

696 MWe

South Korea

903 MWe

893 MWe

10 MWe

Taiwan

170 MWe

170 MWe

Power Plants

Philippines

623 MWe

623 MWe

Operating

Under Construction

Total

6,626 MWe

112 MWe

Indonesia

46 MWe

44 MWe

2 MWe

Including under construction projects

As of 30 Noดvember 2025

*MWe stands for Megawatt Equity

**EGCO's portfolio excludes additional acquisition 10% stake in Linden until the transaction complete 7

EGCO POWER PLANT PORTFOLIO

Power Generation Business

As of 30 November 2025, EGCO currently has 46 power plants with total of 6,738 MWe (operating and under construction projects)

Power Business by Type

Under Construction

Thermal 1,296 MWe

BLCP, QPL, SBPL

19%

Combined-Cycle

3,904 MWe

Renewable

1,538 MWe

23%

6,738

MWe

58%

NED, SPP2, SPP3, SPP4, SPP5,

YGP, GPS, TWF, CWF, Solarco,

KEGCO, KPG, PAJU ES,

BPU, KLU,

Linden Cogen,

CDI - KCE, CDI - KPE,

Marcus Hook, Milford, Dighton EGCO Cogen Replacement

(Overseas)

2%

Overseas

55%

35%

6,738 MWe

(112 MWe

under construction)

IPP

7%

1% SPP

VSPP

Overseas 57%

Gangdong, NTPC, NT1PC, XPCL, Yunlin, CDI-Solar rooftop

APEX; Mulligan Solar, Great Pathfinder Wind, Angelo Solar, Big Elm Solar, Timbermill Wind, Great Kiskadee Storage, Downeast Wind, Prosperity Wind, Wheatsborough Solar, Angelo Battery Storage

Thailand

43%

2,926

USA 19% 1,263

South Korea 13%

Laos 10%

903

696

623

Under Construction:

APEX and CDI projects

Power Business by Offtake

Industrial User 146 MWe

2%

Philippines

9%

Power Pool 1,475 MWe 22%

76% PPA 5,117 MWe

Taiwan

Indonesia Under Construction - Overseas

3% 170

1% 45

2% 112 (APEX and CDI-Ground-mounted solar)

6,738

MWe

*Note: EGCO's portfolio excludes additional acquisition 10% stake in Linden until the transaction complete

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Company

Overview

Project Updates

Outlook & Strategy

Profit Sharing

Operating Profit

Net Profit

2,342 MB

-32% YoY

844 MB

-77% YoY

-656 MB

-127% YoY

• In Q3/2025, the company recorded the profit sharing of 2,342 MB, decreased by 1,105 MB or 32% YoY

• Higher electricity sales from hydro power plants

• Lower electricity sales unit price from PAJU ES

• Lower electricity sales volume from COMPASS

• In Q3/2025, the company recorded the operating profit of 844 MB, decreased by 2,760 MB or 77% YoY

• Scheduled maintenance to prepare for operations under the new PSA contract at QPL

• Lower profit sharing from PAJU ES and COMPASS

  • In Q3/2025, the company

    recorded the net profit of

    -656 MB, decreased by 3,119 MB or 127% YoY

  • Lower operating profit

  • Recognition of a net unrealized loss from financial instruments, and FX loss due to the depreciation of NTD against EUR

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