Absolute Clean Energy Public Company Limited Brief Company Information September 2019
Disclaimer This presentation is for information purposes only and does not constitute or form whole or part of any offer, invitation or solicitation by or on behalf of the Company for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities of the Company, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto (“Securities”) in Thailand, the United States or any other jurisdictions. Any recipient considering a purchase of Securities is hereby reminded that any such purchase should be made solely on the basis of the information contained in a final offering document (which may be different from the information contained in this presentation ) and subject to the selling restrictions set out therein. No public offering of the Securities will be made in the United States or in any other jurisdiction outside of Thailand where such an offering is restricted or prohibited. This presentation should not be construed as legal, tax, investment or other advice. The information contained herein does not take into consideration the investment objectives, financial situation or particular needs of any particular investor, and should not be treated as giving investment advice. In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of the Company, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks which are in many cases beyond the control of the Company, and which may change over time and may cause actual events and the Company's future results to be materially different than expected or indicated by such statements. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Such forward - looking statements are not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward looking statements. The recipient is cautioned not to place undue reliance on these forward looking statements. In providing this presentation, the Company does not undertake to provide any recipient with access to any additional information or to correct any inaccuracies herein which may become apparent. 2
Table of Contents Company Overview I II Industry Overview and Growth Potential Company Core Competitive Advantages III Financial Highlights IV Key Takeaways V 3
Company Overview
Company Overview Who is ACE? 40 Years Strong foundation in Integrated Agricultural Industry “To be the world practical model of Clean energy powerplant, which is responsible for environment, society, and shareholders” “ เป็นโรงไฟฟ้าพลังงานสะอาดต้นแบบของโลกที่มีความรับผิดชอบต่อสิ่งแวดล้อม สังคม และผู้ถือหุ้น ” Thailand’s Current Largest “Professional-Run” Biomass Power Producer Thailand’s Leading Renewable Power Producer The Green & Clean Energy Leader 5
Company Overview ACE at a Glance Abundant biomass 40 Years Strong foundation Innovative feedstock support from community of Major Shareholder in Private Integrated Agricultural Surrounding the power plants Power Industry Producer for Absolute Clean Energy Ongoing Improvement with Innovative Technology Innovative Technology and Experienced R&D Team 6
Company Overview ACE at a Glance Biomass (9+14+1) /1 32+1 Power Plants /1 291.0 MW /1 (13 in Operations) 411.47+9.9 MW /1 Innovative Private Power Producer MSW (1+1) for 11.0 MW Absolute Clean Energy Solar (2+4) 5.02 MW Co-generation (1+0) 114.35 MW Expected Installed Capacity 1 GW (Gross) +36% MW CAGR /2 Remark: /1 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE 7 /2 Compound Annual Growth Rate in term of MW from 2019-2024
Company Overview ACE’s Biomass Powerplant (9+14+1, 291 MW) /1,/2 ACP1 Ban Bueng ALCP1 Sri Chiang Mai AAPP2 Chokchai ACP2 Ponthong ALCP2 Sirinthorn AAP1 Nam Pong ACP3 Bo Ploy AAPP1 Tanee ABA1 Thern Remark: /1 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE 8 /2 Capacity MW
Company Overview ACE’s MSW Powerplant (1+1, 11MW) /1 MSW Khon Kaen Remark: /1 Capacity MW 9
Company Overview ACE’s Co-generation Powerplant (1+0, 114.35 MW) /1 AAA Chachoengsao Remark: /1 Capacity MW 10
Company Overview ACE’s Solar Powerplant (2+4, 5.02 MW) /1 Remark: /1 Capacity MW 11
Company Overview ACE at a Glance >90% Capacity Factor /1 Feedstock Burn Capability ACE: Up to 65% moisture Biomass: 97% > Listed Peer : 96% content /2 of mixed MSW: 95% > Listed Peer : 72% Innovative Cogeneration: 82% > Listed Peers: 81% fuel Private Others: Up to 40% Power Producer for Unit : MW Absolute Clean 76 Energy 196 Largest Portion Bidding Winner in the recent 2017 Major SPP Hybrid Firm Bidding Source: ERC, company website/annual report 12 Strictly Private & Confidential Remark: /1 Average capacity of all powerplant type of ACE /2 Feedstock burn capacity for biomass powerplant
Company Overview ACE’s Key Development Milestones “To be the world practical model of Clean energy powerplant, which is responsible for environment, society, and shareholders” 2022: 2017: 2016: 2012: Estimated to Won and secured 4 First COD of VSPP First COD of VSPP COD all SPP Hybrid Bidding “ALCP” MSW Power “ACP1” Biomass projects /2 of total 93 capacity Plant Power Plant (421.37 MW) /3 MW 2024: 1979 /1 (40 years 2015: 2017: 2018: Expected to secure ago): Shaiyo Triple A Established First COD of SPP First COD of VSPP an installed capacity Group, world’s leading Absolute Clean “AAA” Cogeneration Solar Rooftop of 1,000 PPA MW rice, corns, cassavas Energy (ACE) as a Power Plant and becomes and woodchips Holding Company Thailand’s largest producer and with initial paid-up biomass power exporter, has capital of THB 0.5 producer expertise in mm. ACE’s Total Capacity MW /3 over time agriculture industry and R&D in the fast growing tree and 1,000 Unit: MW intrigued in exploring the energy sector. 421 421 421 214 210.5 209.5 212.2 85.2 2016 2017 2018 2019 2020 2021 2022 2024 Remark : /1 http://www.saaa.co.th/SAA_ENG/home.php /2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assumption that normally power project’s 13 construction period is approx. 2 years /3 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE
Company Overview Overview of ACE’s Portfolio ACE Business Portfolio in Thailand Power Type Biomass Co-generation MSW Solar ACE’s Holding 100.0% 100.0% 100.0% 100.0% 100.0% Stake in Projects COD: 13 Existing + Pipeline 9+14+1 /1 1+0 1+1 2+4 Pipeline: 20 /1 Projects Total: 33 /1 Capacity MW COD: 211.18 89.1 1.73 5.0 (Total Capacity 114.4 Pipeline: 210.19 6.0 3.29 /1 201.9 MW) Total: 421.37 Total: 291.0 /1 Total: 114.35 Total: 11.0 Total: 5.02 PPA MW to 72 COD: 168.23 1.73 90 4.4 4.5 /1 Government & IU Pipeline: 171.99 164.3 3.29 (Total PPA MW) Total: 340.22 Total: 236.31 /1 Total: 90 Total: 8.9 Total: 5.02 /2 Existing Under Development + Pending for Development 14 Strictly Private & Confidential Remark: /1 Including APP’s capacity MW of 9.9. Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE /2 Electricity Sale Agreement (ESA) with IU
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