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Eastern Water Resources Development and Management PLC. Opportunity Day Venue SET Building, Room 1101 2009 Yearly Results 24 February 2010 Contents Company Overviews Operation Highlights Financial Results Future Investments

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Eastern Water Resources Development and Management PLC. Opportunity Day Venue SET Building, Room 1101 2009 Yearly Results 24 February 2010

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SLIDE 2

Contents

 Company Overviews  Operation Highlights  Financial Results  Future Investments

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 CSR Projects

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SLIDE 3
  • 33.26% of Net Profit and 26.82% of EBITDA increase in

Y2009(YoY)

  • Nongplalai - Maptaphut(Line3) pipeline, the construction was

started in 4Q/2009 and expected to complete the project in 2011

  • Prasae-Klongyai pipeline, the Cabinet had a resolution to

approve the budget payment for this project and the asset will be delivered within 90 days after the agreement signing date

  • Dividend for 2009 operating results is Bath 0.35 per share,

interim dividend of Bath 0.10 per share paid on Sep 23, 2009 the remaining of Bath 0.25 per share will be paid on Apr 5,2010

Company Highlights

3

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SLIDE 4

East Water Group Structure

Bangpakong Water Supply Chachoengsao Water Supply Nakornsawan Water Supply

Rayong Waterworks Operations & Maintenance Non Revenue Water East Water Koh Sichang, Lan, Samui Waterworks Sattahip, Borwin Waterworks Ratchaburi –SamutSonghram, Phuket PWA 3 project : Omnoi, PathumThani

Bangpakong Water Supply Chachoengsao Water Supply Nakornsawan Water Supply

Rayong Waterworks Non Revenue Water East Water

Bangpakong Water Supply Co.,Ltd. Chachoengsao Water Supply Co.,Ltd. Nakornsawan Water Supply Co.,Ltd.

Rayong Waterworks Non-Revenue Water East Water

East Water

Universal Utilities : 100% * THB 510 million EGCOM TARA : 15.88% * THB 345 million

Chonburi Waterworks

4

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SLIDE 5

Nakhonsawan Srichang Island Chachoengsao Bangpakong MWA

Group 1 Concession Contracts Group 2 O&M Contracts

Sattahip

Group 3 NRW Contracts

Prathum-Rangsit (PWA) Omnoi-Sampran (PWA) Samui Island Rayong

Universal Utilities Co., Ltd. (UU)

Rachaburi-Samutsongkram Borwin Larn Island Phuket

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  • 20

40 60 80 100

2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E 33 45 49 53 65 70 73 76 Forecasted

: Chonburi BOO Contract. (8.7 Million Cu.m/year) start in 2010 : Tap Water Demand is calculated excluding O&M Contract

Tap Water Demand

Million Cubic Meter

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 6

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SLIDE 7

64 82 82 105

  • 30

60 90 120 150

Net Profit

878 731 749 902

  • 300

600 900 1,200 1,500

Revenue

Tap Water Revenue and Net Profit

Million Baht Million Baht

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 7

28.07% YoY 20.37% YoY

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SLIDE 8

Direction of Business Development

Concession

O&M

NRW

Industrial Water

UU

Water Reclamation/ Waste Water

Core Business Potential Projects

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SLIDE 9

Market Expansion

Government

Concession/O&M

  • PWA
  • Municipality
  • Sub-District

Organization

  • etc.

Private Sector

Future Projects

Industrial Water Waste Water Water Reclaim

  • Factory
  • Industrial

Estate

  • etc.

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SLIDE 10

Contents

 Company Overviews  Operation Highlights  Financial Results  Future Investments

10

 CSR Projects

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SLIDE 11
  • 50

100 150 200 250 300 350 2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E

201 219 224 221 239 265 294 304

Raw Water Demand

Demand is expected to increase by the expansion of Domestic Consumption and Petrochemical Phase 3

Forecasted

Million Cubic Meter

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 11

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SLIDE 12

20.17

19.08 18.32 20.57 19.54 20.27 19.22 20.26 21.58 19.45 20.39 20.34 20.33

10 12 14 16 18 20 22 24 26 28 30 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Millions Cubic Meters Actual 2010 Actual 2009 Plan 2010

17.71 16.92 18.99 17.89 18.24 17.57 18.39 19.69 18.56 18.27 18.67 20.35

19.08 18.32 20.57 19.54 20.27 19.22 20.26 21.58 19.45 20.39 20.34 20.33

10 12 14 16 18 20 22 24 26 28 30 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Millions Cubic Meters Actual 2008 Actual 2009 Plan 2010

10.52% YoY 7.51% YoY 4.89% YoY 10.47% YoY Raw Water Volume in 2009 drop by 1% ,YoY due to the financial crisis

Raw Water Volume in 2010 is expected to increase by 8%, YoY

+ 17.29% YoY

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SLIDE 13

Res eservoir ervoir Sto torag age e as as of

  • f Feb

eb 15 15, , 2010 2010

20 40 60 80 100 120 140

อ่างฯบางพระ

52 52%

10 20 30 40 50 60 70 80

อ่างฯดอกกราย

3 6 9 12 15 18 21 24 อ่างฯหนองค้อ

20 40 60 80 100 120 140 160 180

อ่างฯหนองปลาไหล

86 86% 60 60% 76 76%

25 50 75 100 125 150 175 200 225 250 275

อ่างฯประแสร์ 83 83%

5 10 15 20 25 30 35 40 45

อ่างฯคลองใหญ่

76 76%

Bangphra

Nongkoh

Dokkrai Nongplalai Phrasae

Khlong yai

Chonburi Rayong

61 61.04 04

117 117

12 12.74 74

21 21.4

53 53.94 94

71 71.4

140 140.84 84

163 163

30 30.51 51

40 40.1

206 206.7

248 248

Existing Pipe Network Potential Pipe Network

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SLIDE 14

14

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SLIDE 15

15 15

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P

Maptaphut Industrial Estate

 New pipeline will support water demand in 10 years  Laying pipeline from Nongplalai to Maptaphut area diameter 1,400 mm. approx. 30 km.  Additional pipeline to AIE and constructing new pumping station  Total investment 2,111 MB  Construction Period 2009-2011

Pras Prasae ae-Klongyai

  • ngyai (RID)

Lay Laying pi ng pipel peline app ne approx.

  • rox. 30

30 km. m.

NongPlaLai-Dokkrai- Maptaphut Line 3

Non

  • ngKh

Kho NongPla laLai DokKra kKrai BangPra ra KlongYai Prasa sae

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SLIDE 17

Pipeli line linka kage

Pumping ping stat ation ion

Prasa sae-Klo Klongya ngyai i connect ctin ing pipeline e project ct

KlongYai Prasa sae NongPla laLai Constructing Pipe Network Pumping station

 In Aug 2005 2005, assigned by the Cabinet to be responsible for the 31 31.8 8 km. Prasae-Klongyai Pipeline project (1,680 680MB) to supply water to Maptaphut area  Completed construction, on 14 14 July 2009 2009 the Cabinet assigned RID to manage the procurement process for this project  On 1 1 Dec 2009 2009, , the Cabinet et had a resol

  • luti

ution

  • n to approv
  • ve

e the budget et payment ment for this projec ect  The agreem ement ent had been signed ed on 15 15 Jan 2010 2010,the the asset et will be deliver ered ed within 90 90 days

Prasae-Klongyai Pipeline Linkage Project

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SLIDE 18

Contents

 Company Overviews  Operation Highlights  Financial Results  Future Investments

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 CSR Projects

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SLIDE 19
  • 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000

Other Income Service & Rental Income Tap Water Raw Water

2,505 2,417 2,502 2,879

56% 14% 20% 10% 66% 20% 10% 4% 66% 22% 8% 4% 66% 22% 10% 2%

Source of Revenue

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Million Baht

Revenue(MB) Y2008

Y2009

%

Raw Water

1,658

1,904

15%

Tap Water

561

636

14%

Service & Rental Income

192

282

47%

Other Income

91

56

39%

Total Revenue

2,502

2,879

15%

15.07% YoY

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only

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SLIDE 20

201.37 219.10 223.86 221.27

  • 50

100 150 200 250 300

Raw Water Volume and Sales

Million Cubic Meter

1,397 1,588 1,658 1,904

  • 500

1,000 1,500 2,000 2,500

Million Baht

14.86% YoY 1.16% YoY

Raw Water Volume Comparison Raw Water Revenue Comparison * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 20

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SLIDE 21

32.53 45.34 49.45 53.04

  • 10

20 30 40 50 60 70

Million Cubic Meter 355 488 561 636

  • 100

200 300 400 500 600 700 800

Million Baht

Tap Water Volume and Sales

13.45% YoY 7.26% YoY

Tap Water Volume Comparison Tap Water Revenue Comparison * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 21

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SLIDE 22

Raw Water Revenue and Costs Breakdown

1,397 1,588 1,658 1,904 COGS Rev

Million Baht

Raw Water Staff Cost Electricity Depreciation Others

Y2009 Y2008

40% 38% 39% 43%

Revenue & COGS of Raw Water (Consolidated F/S) COGS of Raw Water Breakdown (Consolidated F/S) * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 22

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505 432 606 807

796 764 913 1,250 1,061 1,133 1,264 1,603

  • 500

1,000 1,500 2,000

Net Profit EBIT EBITDA

East Water Group Performance

Million Baht

33.26%

YoY

26.82% YoY 36.21% YoY

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only 23

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SLIDE 24

Financial Structure of East Water

1.17 0.66 0.53 0.44 0.25 0.5 0.75 1 1.25 Times

24

1.01 0.55 0.48 0.35

0.25 0.5 0.75 1 1.25 Times

Consolidated D/E Ratio Separated D/E Ratio

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only

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SLIDE 25

Dividend Policy

0.00 0.10 0.20 0.30 0.40 0.50 0.60

0.25 0.25 0.25 0.35

EPS DPS Baht/Share*

  • Adjusting figure for comparison purpose of par split from 10 to 1 Baht/share since May 2005
  • Interim dividend of Bath 0.10 per share, which was paid on Sep 23, 2009
  • The remaining dividend for 2H/2009 operating results is Bath 0.25 per share, record date on Mar 25, 2010 paid date on Apr 5,2010

0.39 0.33

66% 78%

25

0.35

68%

0.49

71%

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SLIDE 26

Consolidated Financial Ratio

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52.11% 56.27% 54.24% 58.81% 20.14% 17.87% 24.22% 28.04% 11.70% 8.15% 10.05% 12.96% 5.46% 4.39% 6.31% 8.73%

0% 10% 20% 30% 40% 50% 60% 70%

GPM (%) NPM (%) ROE(%) ROA(%)

1.17 0.66 0.53 0.44 0.00 0.50 1.00 1.50 2.00

D/E (times)

* Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only

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Source of Funds

Source of Loan

Amount (MB) Outsta- nding Tenor (years) Rate 2005-2007 Rate 2008-2009 Rate 2010-2011

Long-Term Loan from KTB

  • Tranche A
  • Tranche B

1500 500

  • 7

7 4.5* 4.5* 4.5* 4.5* MLR-0.75 MLR-0.75 Source of Loan

Amount (MB) Outsta- nding Tenor (years) Rate 2007-2009 Rate 2010-2011 Rate 2012-2013

Long-Term Loan from KTB

  • Tranche C

1500 1350 7 4.8 MLR-1.75 MLR-1.50 Source of Loan

Amount (MB) Outsta- nding Tenor (years) Rate 2009 Rate 2010-2013 Rate 2014-2016

Long-Term Loan from KBANK

  • Tranche A

1000

  • 7

MMR MLR-1.75 MLR-1.50 Source of Loan

Amount (MB) Outsta- nding Tenor (years) Rate 2009-2012 Rate 2013-2015 Rate 2016-2018

Long-Term Loan from GSB

  • Tranche A

1700

  • 10

3.5 MLR-2.25 MLR-2.00

* New interest rate be adjusted down from 6% and MLR-1.5% for KTB Long-Term Loan in Tranche A and B respectively, to 4.5% from July 2007 to Oct 2010 ** Information as above is based as of December 2009

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Contents

 Company Overviews  Operation Highlights  Financial Results  Future Investments

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 CSR Projects

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SLIDE 29

Waterworks Projects

  • Existing Contract Expansion
  • Chonburi Project
  • Industrial water / Wastewater Projects

Raw Water Projects

  • 1. Pipeline Expansion
  • NongPlaLai-MapTaPhut 3
  • Improvement Dokkrai Pumping Station
  • Nongplalai-NongKho Pipeline Expansion
  • NongKho-Leamchabang Pipeline

Expansion

  • 2. Alternative Water Resources
  • Private Pond
  • Off-Stream Reservoir
  • 3. Monitoring Project
  • Southern Seaboard Project

Future Projects

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Special Projects Biofuel

  • Mini Hydro Turbine Generator Project

(Prasae Reservoir, Nongplalai-Nongkho Pipeline)

  • Expand to Regional / SE Asia
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Indicative East water Group’s Capital Expenditure

Projects Total MB 2010 MB 2011 MB 2012 MB 2013 MB 2014 MB Raw Water Projects (Existing Cap. Enhancement) 3,500 1,700 1,300 100 400

  • Tap Water Projects

5 5 Total Capital Expenditure , 5 , 5 ,

30

Unit : Million Baht

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Contents

 Company Overviews  Operation Highlights  Financial Results  Future Investments

31

 CSR Projects

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Corporate Social Responsibility(CSR)

We are proud to be a member of the Eastern Seaboard

  • Communities. Every year we allocate around 5% of Net

Profit to bring Quality of Life and Environment Care to Communities in Eastern Seaboard

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CSR Strategy and Policy

 To improve Quality of life of communities to have clean water for consumption  Collaboration with communities to care of water resources and environment  Focus on development potential of youth in the our service areas  To promote knowledge and awareness of water conservation and water care

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CSR Project

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Thank You

www.eastwater.com