Corporate Presentation March 2017 Strictly Private and Confidential - PowerPoint PPT Presentation

Corporate Presentation March 2017 Strictly Private and Confidential 1

“ No. 1 Mining Contractor in TCLMV” With 34 Successful Years of Heavy Mining Main Business: Full-service Mining Contractor Founded: 1970 Registered capital: 1,150 Million Baht No. of Shares: 1,150,000,000 Shares Listing: October 26, 2016 Strictly Private and Confidential ‹#›

“ No. 1 Mining Contractor in TCLMV” With 34 Successful Years of Heavy Mining Operates 2 Largest Coal Mines: Mae Moh & Hongsa Mines New Project is Tin Mine in Myanmar Backlog: 39,000 THB Million Baht (approx.) 45 Engineers and 1,000+ Employees Strictly Private and Confidential ‹#›

Mining Construction Industry (TCLMV) - High-Barrier to Entry - Large Capital Investment - Need Proven Track Records - Need Highly Experienced Mine Experts - New Projects Bidding : 150,000 MB+ - Mae Moh Contracts 9-10-11 and Hongsa Contracts G & H - New Mines Opening: - Coal Mines, Tin Mines, Potash Mines etc. Strictly Private and Confidential ‹#›

Mining Construction Industry (TCLMV) Oligopoly Market with 2 large Players - SQ has over 50% market shares - SQ: The Only Mining Expert in CLMVT - Largest Team of Experienced Mine Experts - Extensive Mine Equipment - Strongest 34-year Mine Experiences & Track Records - Overall Mining Expertise Strictly Private and Confidential ‹#›

“ Highly Experienced Management and Operational Team with Proven Track Record " ฀ Management and Operational team with over 30 years of experience in coal mining industry ฀ Well established relationship with sponsors Management and Operational Team with Extensive Experiences in Mining Industry Mr. Somboon Maneenawa Mr. Ouychai Klaitubtim Chairman of the Board Mae Moh Director •Past experience: • Over 40 years of experience in mining industry − EGAT Governor (1992-1995) Mr. Nopphan Muangkote Mr. Jaturaporn Boonyasatit Chairman of Executive Committee Executive Committee member • D irector at International Business Lawyers Co., Ltd. and PF • Over 45 years of experience in mining industry Controls Group Ltd (Present) • Over 35 years of experience with SQ •Independent Director at AEONTS, AMATA and Charoensin Property Co., Ltd. (Present) Mr. Sarin Wannalee Executive Committee member Mr. Sasavat Sirison • Over 29 years of experience with SQ Chief Executive Officer • Over 35 years of experience in mining industry • Over 28 years of experience with SQ Mr. Vitoon Chinwanichai Hongsa Director Mr. Vitavat Sirison • Over 30 years of experience in mining industry Chief Operation Officer •Over 23 years of experience with SQ Mr. Chatree Keatkongkeaw Project manager Mr. Pavat Sirison • Over 29 years of experience in mining industry Chief supply chain manager • Over 19 years of experience with SQ •Over 10 years of experience with SQ Mr. Pornpong Chaijaroen Mr. Kavit Sirison Project manager Chief Financial Officer • Over 26 years of experience in mining industry •Director of Microfinance Strategy Development department at Ministry Strictly Private and Confidential of Finance(2010-2012)

Business Overview Strictly Private and Confidential ‹#›

Stable Revenue via Long-Term Contract w Credible Sponsors Credible Counterparties Supported by Respective Government ‘SQ’ Business Model • Long-term Contract • Stable Revenue with Growth • Credible Sponsors • Oligopoly Business Strictly Private and Confidential ‹#›

Mae Moh Project Overview Mae Moh Power Plant Mae Moh Mine Planning Existing Capacity Units Installed Capacity 4 – 7 4 x 150 MW 8 – 13 6 x 300 MW Total 2,400 MW Strictly Private and Confidential Coal Usage : approx. 15 mil. tons/ year ‹#›

Mae Moh 8 Backlog Mae Moh 8 EGAT / SQ Contract Counter Parties : January 2016 – December 2025 Project Duration : SQ’sBacklog(endof2016) Contract Contract Value Volume Value(THBmm) ScopeofWorks Volume (THBmm) Job 1 Soilexcavationandtransportation 375.0m.BC 21,641 365.3m.BCM 20,598 Job 2 Coalexcavationand transportation M 1,230 31.0m.tons 1,230 31.0m.tons 22,871 21,828 Job 1: Soil excavation (m.BCM) Job 2: Coal excavation (m.tons) Cumulative Planned Cumulative Planned Cumulative Actual / Backlog Cumulative Actual / Backlog 365.4 31.0 7.5 1.4 5.1 9.6 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Backlog Backlog Strictly Private and Confidential ‹#›

Mae Moh 7 Backlog Mae Moh 7 Contract Counter Parties : EGAT / ITD-SQ November 2008 – April 2020 Project Duration : SQ’sBacklog(endof2016) Contract Contract Value Volume Value(THBmm) ScopeofWorks Volume (THBmm) 365.0m.BC 18,602 Job 1 Soilexcavationandtransportation 43.7m.BCM 1,981 M 2,463 Job 2 Coalexcavation andtransportation 5.4m.tons 244 50.0m.tons 842 Job 3 Soiltransportation(excavationbyEGAT) -m.BCM 99 40.0m.BCM Job 1: Soil excavation 21,906 2,324 (m.BCM) 400. 300. 133.7 200. 140 365 Cumulative Planned 105 91.5 100. Cumulative Actual 98 70 69.2 0. Performed 41.4 Total Joint Operation 35 27.0 prior to 2012 (Full scope) 13.7 0 2012 2015 2014 2016 Job 2: Coal excavation (m.tons) 2013 20 62.5 Cumulative Actual 14.0 15 50. 10.0 37.5 16.8 10 7.6 5.4 25. 50 5 12.5 2.7 0 11 0. 2012 2015 2013 2014 2016 Performed Joint Operation Total prior to 2012 (Full scope) 15 Cumulative Actual 11 Job 3: Soil excavation by EGAT (m.BCM) 8.3 8.3 8 7.1 50. 3.6 4 40. 0.4 8.3 0 30. 20. 40 2014 2012 2013 2015 2016 5 - None - 10. Strictly Private and Confidential 0. Total Performed Joint Operation prior to 2012 (Full scope) ‹#›

Hongsa Project Overview Mae Moh 7 Mae Moh 8 Hongsa Project Myanmar Project Hongsa Power Plant Hongsa Mine Planning Dumping Area Mining Area Dumping Area Existing Capacity Installed Utilized Capacity Capacity (MW) (MW) 1 626 551 2 626 551 Total Coal Resource : Approx. 577.4 m.tons Potential Future Projects : •During 25 years of its concession, Hongsa Power (HPC) requires services for the excavation of soil 3 626 551 and coal of 1,250 m.BCM and 370.8 m.tons, respectively •Of which, the excavation of 437 m.BCM soil and 205.6 m.tons coal are yet being awarded. 1,653M Total 1,878MW W Coal Usage : approx. 14 m.tons/ year Strictly Private and Confidential ‹#›

Hongsa Project Backlog Hongsa Project Mae Moh 7 Mae Moh 8 Myanmar Project Contract Counter Parties : HPC / SQ June 2015 – December 2026 Project Duration : SQ’sBacklog(endof2016) Contract Contract Value Volume Value(THBmm) ScopeofWorks Volume (THBmm) Job 1 Soilexcavationandtransportation 207.0m.BC 8,481 186.5m.BCM 7,624 Job 2 Coalexcavationandtransportation M 3,262 79.6m.tons 3,140 82.5m.tons 11,743 10,764 Job 1: Soil excavation (m.BCM) Job 2: Coal excavation (m.tons) 186.5 79.6 Cumulative Planned Cumulative Actual Cumulative Actual Backlog Backlog 14.5 2.9 2.9 5.2 19.7 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Backlog 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Backlog Note: * Actual production is as of 1H/2016 Strictly Private and Confidential ‹#›

Myanmar Project Project ProjectValue ProjectDuration Phase1:TinConcentrate 3,672THBmm 2017-2024 Strictly Private and Confidential ‹#›

Stable Revenue via Long-Term Contract with Credible Sponsors Highly Visible Backlog with over THB 39 bm for the Next 11 Years ฀ SQ current project operations are Mae Moh 7, Hongsa Phase D and Mae Moh 8 With Remaining Backlogs THB 39 BM for the Next 10 Years THB mm 40,000 3,700 30,000 21,828 20,000 38,616 34,916 - 10,000 10,764 13,088 - 2,324 2,324 0 - MM7 Hongsa MM8 Myanmar Total Note: As of December 2016 Strictly Private and Confidential

Total Value of Contracted Work (Backlog) Remaining Project Project Year Project Value 1. Mae Moh Project 2009-2020 2,323 THB mm - Contract 7 - Contract 8 2016-2025 21,828 THB mm 2015-2026 2. Hongsa Project 10,764 THB mm 3. Myanmar Tin Project 2017-2024 3,672 THB mm Total up to 2026 38,587 THB mm Strictly Private and Confidential ‹#›

Strictly Private and Confidential

Key Financial Highlights – Stable Revenue with EBITDA Margin Growth Total Revenues (THB.m) 2,890 Others 2,500 MM8 897 Hongsa 1,897 1,868 1,810 MM7 & 7/1 1,614 56 30 1,875 74 - 146 - 29 731 - 247 1,250 1,841 1,736 1,585 1,445 625 1,238 0 2012 2013 2014 2015 2016 Strictly Private and Confidential

Key Financial Highlights – Stable Revenue with EBITDA Margin Growth Profits (THB.m) EBITDA NI % EBITDA (RHS) Gross Profit 1,500 50% 41.4% 1,196 1,119 36.6% 34.5% 34.1% 33.9% 828 738 683 648 613 557 501 490 480 381 323 356 141 101 89 49 -25 10% 2012 2013 2014 2015 2016 Strictly Private and Confidential

Assets, Liabilities and Shareholder’s Equity (THB.m) 10,000 8 5.65 3.72 3.2585 7,500 2.15 3 2.9808 3.00 2.6081 1.12 6,004 5,000 (3) 4,489 3,749 3,753 2,867 2,749 2,527 2,360 2,251 2,500 (9) 740 389 340 0 (14) 2013 2014 2015 2016 Assets Liabilities Shareholder's Equity IBD/Equity IBD/EBITDA Strictly Private and Confidential

Overall Financial Position Ratios (Times) ROFA ROA 30% 26.23% 21.81% 20.82% 20.58% 20% 10% 6.2% 4.6% 2.5% 1.8% 0% -10% 2013 2014 2015 2016 Note: * Annualized net profit to calculate key ratios for 3Q2016 Strictly Private and Confidential