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Corporate Presentation Nine - Month Period Financial Results Ended 30 September 2007 Disclaimer Statement This presentation was made from the analysis of reliable information in order to assist investment community to better understand the

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Corporate Presentation

Nine - Month Period Financial Results Ended 30 September 2007

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This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and

  • peration. It also supports the "Good Corporate Governance

Project" of the Securities and Exchange Commission (SEC). However, the information within this presentation has been derived from the existing factors in the present time. Therefore, the forward-looking information on this presentation may not occur in the future if the aforementioned factors or situations are changed. Investors are, however, required to use their own discretion regarding the use of information contained in this presentation for any purpose. For further information, please contact Investor Relations Section of the Electricity Generating Public Company Limited (EGCO) at Tel: (662) 998-5145-7 or Email: ir@egco.com.

Disclaimer Statement

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Table of Contents

  • EGCO Group’s Overview
  • EGCO Group’s Investment
  • Financial Results
  • Appendices
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EGCO Group’s Overview

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EGCO Group’s Overview

EGCO Vision Statement

To be the leading Thai integrated electric power Company with comprehensive energy services in Thailand and in the ASEAN region, with full commitment to environment protection and social development support

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EGCO Group’s Overview

  • Focus on IPP bidding
  • Develop or acquire IPP projects including increase stakes in existing

IPP projects

  • Seek ASEAN region opportunities especially in neighboring countries

with cross-border electricity sale to EGAT

  • Negotiate on REGCO & KEGCO PPA Extension
  • Develop renewable energy projects (SPP)

EGCO Group’s Strategic Direction

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EGCO Group Investment

Corporate Overview

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  • Future Projects
  • Projects under Construction

EGCO Group’s Investment

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9 Location : Saraburi, Thailand Technology : Combined Cycle Power Plant Installed Capacity : 1,468 MW (Unit #2 - 734 MW) Type of Fuel : Natural Gas PPA : 25-year with EGAT COD : 1 March 2008 (unit #2) ( Unit #1 - 5 May 2007)

  • J. Power

49%

Mitpower (Thailand) 1%

EGCO 50%

  • J. Power

EGCO Mitpower ( Thailand)

.

Estimated Project Cost : USD 930 Million Financing : D/E Ratio is approx. 3:1 (Equity injection is back loaded). Debt composition is 50% in USD and 50% in Baht. Tariff Structure : Revenues will be paid 50% in USD and 50% in Baht.

GPG (Kaeng Khoi 2)

Projects under Construction

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10 Location : Khammouane, Laos Technology : Hydroelectric Power Plant Installed Capacity : 1,070 MW Contracted capacity to EGAT : 920-995 MW Type of Fuel : Hydro PPA : 25-year with EGAT COD : December 2009 Project Progress : Construction phase

EDFI 35% I TD 15% LHSE* 25% EGCO 25% EDFI EGCO LHSE* I TD

Estimated Project Cost : USD 1.2-1.3 Billion Financing : D/E Ratio is approx. 3:1 (Equity injection is back loaded). Debt composition is 50% in USD and 50% in Baht. Tariff Structure : Revenues will be paid 50% in USD and 50% in Baht.

Nam Theun 2

Projects under Construction

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EGCO Group’s Investment

  • Future Projects
  • Projects under Construction
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12 Laos 20 % Gamuda 40 % EGCO 40 % Location : Bolikhamxay, Laos Technology : Hydroelectric Power Plant Installed Capacity : 523 MW Type of Fuel : Hydro COD : 2013

EGCO signed Tariff MoU with EGAT

Project Progress

Nam Theun 1 Project

Future Projects

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EGCO signed MoU with PTT, WEGCO and EURUS conduct a feasibility study

Eurus 20 % WEGCO 20 % PTT 30 % EGCO 30 %

Project Progress

Location : The Southern coast of Thailand Capacity : 30-35 MW Feasibility Study : 18 Months Cost of Project : 1,800 MM Baht

Wind – Power Project

Future Projects

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Note: Tentative por tion for investment

SEPCO A sia 15% PTT 35% EGCO 50%

Location : Phuket, Thailand Capacity : 20 MW Cost of Project : 1,600 MM Baht

EGCO signed MoU with PTT and SEPCO- Asia Group conduct a feasibility study

Project Progress

Waste – Powered Electricity Plant Project

Future Projects

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Note: Tentative por tion for investment

Project Progress

PTT 50% EGAT 30% EGCO 20 % Location : Rayong, Thailand Capacity : Phase 1 - 5 MTA Phase 2 - 10 MTA COD : 2011

EGCO signed MoU with EGAT and PTT conduct a feasibility study LNG Receiving Terminal

LNG Receiving Terminal Project

Future Projects

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Financial Results

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17 MM baht

  • 614
  • 949
  • 456
  • 835
  • 1,613
  • 1,581

99 609 7,390 5,054 7,810 9,974

EBITDA Interest Tax Depre & Amort Fx Gain (Loss) Net Profit after Fx, Tax

9M07 9M06

Financial Results

Operating Results - Net Profit and EBITDA Ended September 30, 2007 and 2006

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18 MM baht

Segmental Operating Results Ended September 30, 2007

Financial Results

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19 MM baht

Segmental Operating Results Ended September 30, 2006

Financial Results

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20 MM baht

Financial Results

Cashflow Ended September 30, 2007 and 2006

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Total Facilities Total Outstanding Balances 30 September 2007

  • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’s portion)
  • Total outstanding balances in Baht and Baht equivalent as of 30 September 2007 was Baht 13,636.16 M.

(EGCO’s portion was Baht 13,276.78 M.)

JPY 1,260 M. Baht 20,287 M. USD 48 M. JPY 873 M. Baht 11,775 M. USD 192 M.

Financial Results

Summary of Debt Structure

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Financial Results

Financial Ratio Highlights

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Total 67

  • 7,903

1,485 2007 (Jan - Sep)

  • 7,903

BLCP 1,510 903

  • NTPC (NT II)
  • 391

248 NT I

  • 2,331

GPG (KK 2) 2009 2008 2007

MM baht

Financial Results

Capital Expenditure from 2007- 2009

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“In the absence of unforeseen circumstances, the company has a policy to dividend approximately 40%

  • f the consolidated net profit after tax, or to increase the dividend amount in a steady manner, to the
  • shareholders. This dividend policy may change in the light of investment opportunities that may

become available to the company or as a result of other economic or financial factors or when a dividend payment may have a significant impact on the normal operation of the company. The dividend payment shall not exceed the retained earnings of the separate financial statements.

Baht/Share

1.00 1.25 1.25 1.50 1.50 2.00 2.25 1.25 1.25 1.50 1.50 1.75 2.00

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 2001 2002 2003 2004 2005 2006 2007

2.25 2.50 2.75 3.00 3.25 4.00 Interim Final Final

Year

Financial Results

Dividend Policy

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Appendices

  • Thailand’s Electricity Industry Overview
  • Operating Performance (REGCO & KEGCO)
  • Corporate Overview
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IPP : Independent Power Producer EGCO’s IPPs have 10% market share. Source: EPPO and EGAT

  • INT. (1.20%)*

EPPO

2

MOE

End Users EGAT Transmission EGAT* (55.95%) MEA Direct Customers PEA

NEPC

National Energy Policy Council is the MOE’s primary committee in setting the country’s energy policies to be proposed to Cabinet for approval.

  • Energy Policy and Planning Office is responsible for studying and

analyzing energy policies, management and development plans of the country to be presented to the NEPC.

  • EPPO acts as the secretariat to the NEPC and is now a department under MOE.

SPP : Small Power Producer EGCO’s SPPs have 1% market share.

  • INT. : International = Purchases from Laos & Malaysia

MEA : Metropolitan Electricity Authority PEA : Provincial Electricity Authority

* The percentages refer to market share of total installed capacity as of 31 Oct 2007 which was 28,230.25 MW.

  • EGCO Group’s equity installed capacity was 3,509.1 MW which accounted for 11% of total installed capacity.

Ministry of Energy IPP (35.48%)* SPP (7.37%)*

Thailand’s Electricity Industry Overview

Current Electricity Supply Industry

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14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000

January February March April May June July August September October November December

21,064 MW or 2.57% increase

MW

2002 2003

2004

2005

22,586.10 MW or 7.23% increase (as at 24 April 2007)

Source: EGAT

2006 2007

Historical Demand Growth

Thailand’s Electricity Industry Overview

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Appendices

  • Thailand’s Electricity Industry Overview
  • Operating Performance (REGCO & KEGCO)
  • Corporate Overview
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EGCO Shareholding Structure as of 10 September 2007

Source: Thailand Securities Depository Co., Ltd.

34.86% 17.31% 25.41% 22.42%

EGAT OneEnergy Thailand Ltd. Thai Investors Foreign Investors

  • Foreign investors including those investing in foreign

board (22.39%) and Non-Voting Depository Receipts “NVDR” (12.47%)

1 EGAT 133,773,662 25.41% 2 OneEnergy Thailand Ltd. 118,023,606 22.42% 3 Thai NVDR Company Limited 65,649,282 12.47% 4 State Street Bank and Trust Company, for London 22,378,978 4.25% 5 Littledown Nominees Limited 21,395,613 4.06% 6 Chase Nominees Limited 1 10,250,140 1.95% 7 Thailand Securities Depository Company Limited for depositors 8,573,274 1.63% 8 Bangkok Life Assurance Company Limited 6,665,700 1.27% 9 NORBAX Inc., 13 6,136,300 1.17% 10 Social Security Office 4,887,100 0.93% Total Number of Shares 526,465,000

(owned by One Energy which is jointly owned 50% each by CLP Holding and Mitsubishi Corporation)

Corporate Overview

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Independent Directors

  • Mr. Aswin Kongsiri
  • Mr. Chaipat Sahasakul
  • Mr. Chareon Prajumtan
  • Mrs. Wattanee Phanachet
  • Mr. Thanapich Mulapruk

EGAT Directors

  • Chairman of the Board

(Mr. Sanit Rangnoi)

  • Mr. Chamnong Wongsawarng
  • Mr. Sombat Sarntijaree
  • Mr. Narongsak Vichetpan

OneEnergy Directors

  • Mr. Richard McIndoe
  • Mr. Peter Albert Littlewood
  • Mr. Mark Takahashi
  • Mr. Hideaki Tomiku

EGCO President

  • Mr. Visit Akaravinak

Board of Directors

EGCO Board of Directors

Corporate Overview

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100% 100% AEP APBP

EGCO EGCO EGCO

50% 50% 29.7% 30% 100% EGCO BVI CONA L EGCO JD

Majority Owned Majority Owned 2,156.6 MW 2,156.6 MW Equally or Minority Owned Equally or Minority Owned 1,987.0 MW 1,987.0 MW

GYG GPG SCC NKCC GEC 100% 100% 100% 1,468.0 126.0 66.0 126.0 126.0 926.5 165.0 167.0 49.6 26.4

4,143.6 4,143.6

NT 2 25% 1,070.0 267.5 GCC 23.0 100% 110.0 NMPC APMC WMPC SPPC 0.00 50.0 100.0 55% 55% 50.78% 80% 60% A lsing

Note : An installed MW of power plant is shown in each block while the percentage of equity stake together with an equity MW are shown at each level and added up to total EGCO equity MW above.

110.0 49.0 50.1 1,468.0 0.0 55.0 27.5 126.0 23.0 40% 66.0 99.1 1,853.0 BLCP 50% 717.0 GEC Group GEC Group Operating = 559.5 MW Under Construction (KK unit 2) = 367.0 MW Roi-Et Green REGCO KEGCO ESCO Egcom Tara EGCO Cogen 100% 100% 100% 70% 80% 100% TLPC 1,232.0 824.0 7.0 1,232.0 9.9 824.0 117.0 74% 95% EGCO Green 9.4 93.6 Amesco AE 50% 100% 93.6 1,434.0

Corporate Overview

EGCO Group Structure

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2,416 3,508 3,875 4,143 4,143

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 2006 2007 2008 2009 2010

New Allocated Power Plants

EGCO EGAT Other Players

  • Total new allocated capacity from 2006-2010 is 8,218 MW.

Share of New Capacity by Company from 2006 - 2010

BLCP#1 717 MW BLCP#2 717 MW Kaeng Khoi 2#1 734 MW Kaeng Khoi 2#2 734 MW Ratchaburi Power#1-2 1,400 MW Jana# 1 700 MW North BKK#1 700 MW South BKK#3 746 MW Nam Theun 2 1,070 MW

MW

Bangpakong # 5 700 MW

EGCO 21% OTHE RS 22% J POWER 9% BANPU 9% RATCH 4% EGAT 35%

Corporate Overview

Thailand’s New Capacity from 2006-2010

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Nationwide

1. Forest : The Circle of Life (Forest Planting at Doi Inthanond) 2. School Network for Global Warming Reduction 3. Thai conservation of Forest Youth Camp

  • 4. Power of Books : Power of Learning
  • 5. Cleaner Canal : Better Living

Phase 1 : Ladtanod Canal Phase 2 : Prempracha Canal

  • 6. Plauk Daeng Health Care Market
  • 7. Vocational Student Volunteer for Community
  • 8. Biological Agriculture : Sufficiency for Sustainability
  • 9. Breeding of Blue Swimming Crab
  • 10. School Fresh-water Fish Farming Course for Youth
  • 11. New Home for Underseas Livings
  • 12. Youth Development
  • 13. Angel Mushroom Farming
  • 14. Mobile Medical Unit Support
  • 15. Building for Fortering Local Wisdom

Local EGCO Group’s CSR Projects

Corporate Overview

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Appendices

  • Thailand’s Electricity Industry Overview
  • Operating Performance (REGCO & KEGCO)
  • Corporate Overview
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4,605 5,947 5,039 5,392 4,358 3,796 4,339 5,273 5,448 4,224 2002 2003 2004 2005 2006 6,201 7,269 5,837 6,393 5,811 6,133 5,975 5,349 5,528 6,274 2002 2003 2004 2005 2006

Net Generation

  • EGAT is the sole offtaker for electricity produced by REGCO and KEGCO under long term

cost-plus based Power Purchase Agreements (PPAs).

  • REGCO and KEGCO receive the capacity payment (REGCO) or availability payment (KEGCO)

for maintaining the availability of the power plants, regardless of whether the electric power will be supplied to EGAT or not. REGCO KEGCO MM Baht GWh

Electricity Sales

Annual Net Generation & Electricity Sales for the Year 2002-2006

Operating Performance (REGCO & KEGCO)

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36 MM Baht

Major Maintenance Expenses for the Year 2007

Operating Performance (REGCO & KEGCO)

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37 MM Baht

Major Maintenance Expenses for the Year 2006

Operating Performance (REGCO & KEGCO)

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Operating Performance Equivalent Availability Factor for the 1st – 3rd Quarter of 2007 and 2006

Operating Performance (REGCO & KEGCO)

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Net Generation and Fuel Consumption for the 1st - 3rd Quarter of 2007 and 2006

Operating Performance (REGCO & KEGCO)