Corporate Information

Overview of TPCH, subsidiaries, and partners

Agenda

• Business Background & Overview

• Business Strategy

• Project Overview & Progress

• Business Performance

• Q&A

• Appendix

2

Overview of TPCH, subsidiaries, and partners • Business Background & Overview

3

Key Milestone

2010 2011 2012 2013 2014

TPOLY joined shareholding of CRB 65.0 percent.

TPOLY established TSG, and sold shares to EnBW by having the ratio of 65.0 and 35.0 percent, respectively.

TPOLY established TPCH to hold shares of biomass power plants instead of it.TPOLY transferred all shares of BBRP, CRB, and TSG to TPCH.

CRB commenced commercial operation on March 15, 2013 and issued PP 10 million shares at a price of 33 THB for preparing funds to the construction of power plants of MGP, TSG, and BBRP

TPCH bought MGP shares 46.0 percent

TPCH established PTG and PGP

TPCH bought MWE shares 85 percent

TPCH established SGP

TPCH registered as a public company 19 Jun 2014

TPOLY invested inBBRP 85.0 percent

Current Targets1.Win more biddings of Biomass

projects (At least 50MW)

Three-year targets1. Having PPAs of biomass power plants on

hand in total of not less than 150 - 200 MW2. Having PPAs of waste-to-energy power

plants on hand in total around 50MW3. Acquisition of the business of energy with

both domestic and international.4. Having PPAs of hydroelectric power plant in

Laos at least 80 MW

2017 20202015

TPCH was listed on MAI on January 8th ,2015. Fund raising amount 1.1 billion THB.

The company registered capital 401.2 million THB ,payment of 400 million THB

MWE commenced commercial operation on October 12, 2015

Ongoing development projects in the future, including PTG, which in 2014 has begun to apply for the PPA and the other important contracts.

2016

MGP commenced commercial operation on April 8, 2016

Won Bidding of Biomass in 3 southern part of Thailand for 26 MW and Invested in Siam Power waste power plant for 10 MW

TSG commenced commercial operation on October 3, 2016

PPA on Hand (MW) 2015 2016 2017 2018 2019 2020

BIOMASS 20 86 150 200 200 200

HYDROPOWER - - - - 50 80

WASTE - - 10 20 20 504

Board of Directors

Ph.D Thanu KulacholChairman of the Board

Mrs. Kanoktip ChanpalangsriChairman of Executive Board

Mr. Chainarong ChanpalangsriDirector

Mr. Cherdsak WattanavijitkulDirector & President

Mrs. Boontipa SimaskulDirector / Chairman of the Independent Audit

Mr. Thanwa TheeravitayalertDirector / Independent Audit

Mr. Norachai SripimolDirector / Independent Audit

Mr. Roongsak BoonchouDirector & Executive Director

Mr.Pathompol SaosapDirector & Executive Director

Mr. Vikul LohamongkolExecutive Director

Mr. Jackrit PongprasertExecutive Director

5

Renewable Energy Industry Overview

25% of the plan is Renewable Energy

Supported and Promoted by Government

• BOI

Biomass is second highest demand in the sector

Agricultural Country

Type Waste Biomass Biogas Hydro Wind Solar Energy Crops Total

2015/2015 48 2,199 226 3,016 220 1,570 - 7,279 2015/2037 501 5,570 600 3,282 3,000 6,000 680 19,633

Environmental Benefits

Jobs and the Economy

Sustainability

Source: Ministry of Energy6

Investment Opportunity in 2017

Total capacity

of 589 MW

SPP Hybrid Firm VSPP Semi-Firm

Target 300 MW 289 MW

Capacity Small Power Producer (Capacity 10 MW < 50 MW)

Very Small Power Producer (Capacity < 10 MW)

Tariff

FiT Competitive bidding FiT : 3.66 Baht

FiT f : 1.81 BahtFiT v : 1.85 Baht (core inflation)

FiT Competitive biddingBiomass : 4.24-4.82 Baht/UnitBiogas (Waste) : 3.76 Baht/UnitBiogas (Energy crops) : 5.34 BahtPremium: 0.30-0.50 Baht/Unit

Fuel ≥ 1 type of alternative energy,

Energy storage is acceptable

Biomass, Biogas (Waste), Biogas (Energy

crops), and Energy storage

Contract

Firm Capacity factor 100% during PeakCapacity factor ≤ 65% during Off-Peak

Semi-FirmFirm: 4 months (March-June)Capacity factor 100% during PeakCapacity factor ≤ 65% during Off-Peak

Non-Firm: 8 months

SCOD 2020 2019

Vision Mission and Business Goal

Giving Back

Environmental Stewardship

Respect & Reputation

Social Responsibility

8

Overview of TPCH, subsidiaries, and partners • Business Strategy

9

Headquartered in Karlsruhe, Germany and Germany's third-largest utility

Trade, transport, sells energy and operate in the fields of electricity and gas as well as energy and environmental services

Revenue in excess of € 18 billion in 2011 with 20,000 employees and 6 million customers

Installed electrical output of around 13,500 MW in Germany and Europe

Our Partners : Engineering & Technology

CarbonBW is a 100% subsidiary of EnBW, dedicated to the development, investment, technical implementation, operation, control and management of CDM projects (Clean Development Mechanism) regulated by the United Nation Framework Convention on Climate Change.

10

Our Partners : Experience & Efficiency

OPERATORS

• Extensive experience in operating Biomass power plants

• Good relationship with owners of fuel and local communities

• Finding fuel

• Maintenance and repair machinery used in power plants

• Consultancy service company

• Project development of power plant

• biomass survey and verification

• Feasibility study

• Permit and license application

• Project management

• Electrical installation, Testing, & Commissioning

• Preventive maintenance

• Construction on turnkey basis

• Supply electrical equipment.

11

Our Partners : Sustainability & Relationship

• The biggest rubber wood manufacturer in the three southern border provinces of Thailand.

• Revenue in excess of 400 million THB in 2014 with 500 employees.

• Having over 20 years of experience in the young coconut industry both in farming and trading.

• Process over 40,000 coconuts daily, 90% of premium product is exported to Asia, Europe, North America, Russia, Australia, and New Zealand

SUPPLIERS

• One of the biggest rubber wood manufacturers in ASEAN.

• The biggest group of rubber wood manufacturer in the south of Thailand.

• Having numerous sawmills in 6 provinces of the south of Thailand.

12

Our Strategy & Models

• Outsourcing on operation

• Risk Management

• Having a contract with each operator on annual electrical unit produced

• High Efficiency

• Cost Control

• Fixed margin on COGS (Including Fuel and maintenance)

Outsource

•Ability to lower COGS•Knowledge•Best Technical Staff•Self- Reliance

Self Operate

13

Pow

er P

lan

ts

CRB

MWE

TSG

MGP

Company Structure : TPCH

บริษทั ไทยโพลีคอนส์ จ ำกดั (มหำชน)Thai Polycons Public Company Limited

41.26%

บริษทั ไทยโพลีคอนส์ จ ำกดั (มหำชน)Minor Shareholders (Free float)58.74%

TPC Power Holding Public Company Limited

GPP 10%Chor Prommarak 5%

EnBW 46%GPPG 5%NC 3%

46%

Mahachai Green Power CO,.LTD

Maewong Energy Company Limited

Pattani Green Power Company Limited

TPCH Power 1 Company Limited

TPCH Power 2 Company Limited

85%

65%

Chang Raek BiopowerCompany Limited

73.1%

VSPP 16.9%EnBW 10.0%

60%

51%

65%

EnBW 35%Thungsung Green Company Limited

Satun Green Power Company Limited

Pattalung Green Power Company Limited

WWE 40%

WWE 40%GPP 9%

Narapara 25%GPP 10%

Narapara 25%GPP 10%

Narapara 25%GPP 10%

65%

65%

Siam Power Company Limited

Existing Shareholders 50%

50%

Yala

Yala

Narapara 25%GPP 10%

TPCH Power 5 Company Limited

65% Narathiwat

PA Waste & Energy Company Limited

Existing Shareholders55%

45%

13

Strategy on Locations

Nonthaburi

SamutSongkhram

Samut

Sakhon

Samut

Prakan

Biofuel from Rubber Tree

•Numerous amount of supply

•Non seasonal Tree

•Low fluctuation in price

Surge Voltage of

33kV

•Only in the southern part of Thailand

•High capacity up to 9.2MW

Good Relationship

•TPOLY has been working in the area for almost a decade

15

Overview of TPCH, subsidiaries, and partners • Project Overview & Progress

16

Progress Report of Projects on Hand

Permission Period Construction Period

Q2 2018 (2561)

Q3 2017 (2560)

Q2 2017 (2560)

Q4 2016 (2559)

Q2 2016 (2559)

Q4 2015 (2558)

Q1 2013 (2556)

SCOD

Q4 2018 (2561)

Q4 2018 (2561)

Q4 2019 (2562)

Q4 2018 (2561)

Q2 2019 (2562)

9.5 / 9.2

9.9 / 9.2

9.9 / 9.2

9.9 / 9.2

9.9 / 8.0

9.9 / 8.0

23 / 21

23 / 21

9.9 / 9.2

9.9 / 9.2

9.5 / 8.0

6.3/ 6.3

Total Installed Capacity = 142MWTotal Sell Capacity = 127.5 MW

Operation40MW

Construction20MW

Development82MW

SPP:46MWBidding:26MWWaste:10MW

17

0% 50% 100% 150% 200%

PTG 2

SP

TPCH 5

TPCH 2

TPCH 1

PTG 1

SGP

PGP

TSG

MGP

MWE

CRB

PPA

PPA

PPA

EIA&LOI

EIA

RG.4

Overview of TPCH, subsidiaries, and partners

International Project

MoU of Xebanhieng 1TPC Power Holding Public Company Limited has signed a Memorandum of

Understanding (MoU) on February 2, 2017 with the Laos government to obtain permission for the feasibility study of the Sebanghieng1 Hydropower Project at

Savannakhet Province, Lao PDR with an installed capacity of 52.10 MW.

18

• Feasibility study

• EIA

18 Months

• Project Development Agreement (PDA)

• Power Purchase Agreement (PPA)

• Concession Agreement (CA)

6 Months

• Construction

24 months

Overview of TPCH, subsidiaries, and partners • Business Performance

19

9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 15 March 2014

20

Performance of CRBPower units sold per Day (thousand units)

20

0

50

100

150

200

250

In T

ho

usa

nd

Daily Production of CRB

Goal Line ProductionsAverage Capacity Factor 95%Target: 90% (~200,000 units/day)

Plant Trip

Maintenance Shutdown

9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 12 October 2015

22

Performance of MWEPower units sold per Day (thousand units)

22

-

25

50

75

100

125

150

175

200

Tho

usa

nd

s

Daily Production of MWE

Goal Line ProductionsActual Capacity Factor 96%Target : 90% (~173,000units/day)

Maintenance Shutdown

Maintenance Shutdown

Plant Trip

9.5 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 8 April 2016

24

Performance of MGPPower units sold per Day (thousand units)

24

-

25

50

75

100

125

150

175

200

Tho

usa

nd

s

Daily Production of MGP

TEST RUN

Goal Line ProductionsActual Capacity Factor from August 1, 2016: 95%KPI: 90% (~173,000 units./day)

FINE TUNE

Plant Trip

Maintenance Shutdown

9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 3 October 2016

26

Performance of TSGPower units sold per Day (thousand units)

26

0

50

100

150

200

250

3/Oct/16 3/Nov/16 3/Dec/16 3/Jan/17 3/Feb/17 3/Mar/17

Tho

usa

nd

s

Daily Production of TSG

Goal Line ProductionsActual Capacity Factor from December 1, 2016: 93%KPI: 90% (~200,000 units./day)

TEST RUN

Plant Trip

Maintenance Shutdown

Average Availability per Power Plant

27

83%91%

42%

0%

87%

98%

79%

0%

99%92%

98%

82%

97%90% 87% 88%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

CRB MWE MGP TSG

Q2-2016 Q3-2016 Q4-2016 Q1-2017

Electricity Unit Sold to PEA

16,817,968 15,872,433 7,381,438

17,589,569 17,219,983 13,840,946

19,954,294 16,157,505 17,237,022 16,513,828

19,461,677 15,748,273 15,315,488 17,793,725

Q2-2016

Q3-2016

Q4-2016

Q1-2017

Revenue and Net Profit Report

28

4 7 1246 31

81131

201

1 8 1222 10

19

36

59

5 15 24

6841

100

167

260

0

50

100

150

200

250

300

3M2015 6M2015 9M2015 1Y2015 3M2016 6M2016 9M2016 1Y2016

Mill

ion

Bah

t

Net Profit

Major Minor Net Profit

0

100

200

300

400

500

600

700

3M2015 6M2015 9M2015 1Y2015 3M2016 6M2016 9M2016 1Y2016 3M2017

59121

178

305

132

283

438

672

236

21 45 65124

61127

215

327

117

5 15 2468 41

101167

260

89

Mill

ion

Bah

t

Annual Comparison

Revenue Gross Profit Net Profit

Revenue and Net Profit Report

28

59

132

236

21

61

117

5

41

89

0

50

100

150

200

250

3M2015 3M2016 3M2017

Mill

ion

Bah

t

Annual Comparison

Revenue Gross Profit Net Profit

431

64

1

10

25

5

41

89

0

20

40

60

80

100

3M2015 3M2016 3M2017

Mill

ion

Bah

t

Net Profit

Major Minor Net Profit

3 Driver of Net Profit

1 PowerPlant

2 PowerPlant

3 PowerPlant

4 PowerPlant

4th Power Plant

3rd Power Plant

2nd Power Plant

1st Power Plant

SG&A

SG&A Cost Fixed : Net Profit Add OnTechnology Reduce Fuel Consumption

Reduction of Interest Rate

1st Project 2-4th Projects New Projects

MLR-1.25 MLR-1.50 MLR -2.00

* Current MLR 6.25%

* Increase 10% efficiency 31

0.00

100.00

200.00

300.00

400.00

500.00

600.00

700.00

800.00

900.00

1000.00

2013 2014 2015 2016 2017 2018 2019 2020

CRB53.73

CRB74.82

CRB73.91

CRB73.97

CRB70.20

CRB70.20

CRB70.20

CRB70.20

MWE14.30

MWE65.18

MWE62.40

MWE62.40

MWE62.40

MWE62.40

MGP38.46

MGP62.40

MGP62.40

MGP62.40

MGP62.40

TSG16.51

TSG70.20

TSG70.20

TSG70.20

TSG70.20

PGP49.14

PGP70.20

PGP70.20

PGP70.20

SGP31.59

SGP70.20

SGP70.20

SGP70.20

PTG 181.90

PTG 1163.80

PTG 1163.80

Siam Power59.28

Siam Power62.40

TPCH 168.17

TPCH 170.20

TPCH 268.17

TPCH 270.20

TPCH 546.68

TPCH 549.14

PTG 2155.61

Un

it in

Mill

ion

TPCH : Forecast of Amount of Electricity Sold by Year

53.73

194.12

74.82

345.93

88.21

487.50

811.70

976.95

Price per Unit

FiT FiT Adder(3 Provinces)

Bidding

5.78 4.54 3.79 3.2

30

Provincial Electricity Authority

• VSPP•Very Small Power Producer (Capacity < 10 MW)

Metropolitan Electricity Authority

• VSPP• Very Small Power Producer (Capacity < 10 MW)

•Bangkok, Nonthaburi, & Samut Prakan

Electricity Generating Authority of Thailand

• SPP = Small Power Producer

(Capacity 10 MW < 90 MW)

• IPP = Independent Power Producer

(Capacity > 90 MW)

TPCH’s Project Summary

Operating

• 40 MW

• CRB

• MWE

• MGP

• TSG

Construction

• 20 MW

• PGP

• SGP

Development

• 26 MW

• TPCH1

• TPCH2

• TPCH5

Development

• 46 MW

• PTG1

• PTG2

Development

• 10 MW• Siam Power

33

Dividend Payout

34

0

10

20

30

40

50

60

70

80

90

CRB MWE

85.090.0

62.1

76.5

2016 Dividend Payout Performance(M.THB)

Dividend TPCH's Dividend

73.1% 85%

Follow : Fan page and Website

35

Investor Relation : Contract