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บริษัท เด็มโก้ จํากัด (มหาชน) DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2019

1. Factory & Sale – Steel structure for transmission line and telecommunication tower 2. SERVICES (as turnkey contractor) – Electrical system – Mechanical system – Renewable Power Plant (Wind farm, Solar farm, Waste to energy) 3. Investment – Power Plant : wind farm & Solar farm & Waste to energy – Public Utility 2

Annual capacity 16000 ton per year  Telecommunication Tower  High Voltage Transmission Line 3

4 ลักษณะการประกอบธุรกิจ - งานบริการ • ระบบงานวิศวกรรมไฟฟ้าครบวงจร  Electrical System 500 kV - 230 kV Substation 115 kV - 22 kV 230 kV - 115 kV Substation Substation Hydro / Power Plant 4

1. High Voltage Transmission Line System Construction : To transmit electrical power from electrical generators to 69 kV – 500 kV substations  Hot dip galvanized steel tower for transmission line manufactured by DEMCO PLC as well. 5

2. High Voltage Substation Construction : To control, monitor, and step up/down 69 kV – 500 kV power system transmitted from electrical generators through high voltage transmission line  Air Insulated or Conventional Type (Out door)  SF6 Gas Insulated Type (In door) 6

3. High Voltage Distribution Line System Construction and Underground Cable System Construction :  HV Distribution system – Concrete poles with accessories construction & stringing conductors or cables to 22kV or 33 kV electrical equipment  HV Underground Cable System – Conduit work and 22 kV – 115 kV underground cable extrusion 7

Design, procure, construct, install, and maintain public utility system of electrical system, air conditioning & ventilating system, sanitary system, and high pressure piping system for gas or steam 8

Renewable Energy :  Design , procure, construct, and install equipment for renewable power plant of Biomass, Wind farm and Solar energy Past Experience : – Constructed 453 mw wind farm as balance of plant contractor , contracts amount ฿ 8,046 million Constructed 321 mw solar farms , contracts amount ฿ 8,677 million – 9

Wind farm : 57.9 mw.  15% in 180 mw. Wind farm (operated 2012 – 2013) = 27.0 mw.  14% in 60 mw. Wind farm (operated 2016) = 8.4 mw.  3.9% in 576 mw. Wind farm (126 mw. operated) = 22.5 mw. Solar farm : 3.0 mw.  100% in 1 mw. Solar rooftop (COD operated 2014) = 1.0 mw.  45.7% in 3 mw. Solar farm (COD operated 2014) = 1.3 mw.  49-51% in 1.4 mw. Solar rooftop (COD operated 2015) = 0.7 mw. Water supply system :  100% in water supply system concession (operated 2017) 10

 ( 1,175 MB ⇨ Revenue decreased 27% Q2’18 o Q2’19 859 MB )  ( 2,459 MB ⇨ Revenue decreased 36% 1H’18 o 1H’19 1,565 MB )  ( 136 MB ⇨ Gross profit decreased 6% Q2’18 o Q2’19 128 MB )  Gross profit decreased 13% 1H’18 o 1H’19 ( 289 MB ⇨ 252 MB )  ( 11.66% ⇨ Gross profit margin increased Q2’18 o Q2’19 15.10% )  ( 11.88% ⇨ Gross profit margin increased 1H’18 o 1H’19 16.32% )  ( 50.51 MB ⇨ 5.88 MB ) Net profit decreased 88% Q2’18 o Q2’19  (128.31 MB ⇨ 57.54 MB ) Net profit decreased 55% 1H’18 o 1H’19  Net profit margin decreased Q2’18 o Q2’19 ( 4.30% ⇨ 0.68% )  Net profit margin decreased 1H’18 o 1H’19 ( 5.22% ⇨ 3.68% ) 11

Statement of Comprehensive Income - Revenues Structure Revenues by Categories : ฿ million ,% 1,175 1,200 2,459 2,500 24% 13% 2,185 947 -27% 1,000 -36% 2,000 859 800 1,565 1,500 600 1,000 400 500 200 0 0 1% 11% 88% 0% 18% 82% 1% 5% 94% 1% 18% 81% 1% 21% 78% 2% 6% 92% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Other Sales Service total Other Sales Service total Total revenue of Q2’19 and 1H’19 decreased 27% and 36% compared to the same period of Y’18 from the reduction in sale business both electrical equipment and telecommunication towers. 12

Statement of Comprehensive Income - Revenues Structure Revenues from Sale : ฿ million ,% 250 600 513 209 500 200 32% 389 107% 400 150 -81% -80% 300 101 100 200 41 98 50 100 0 0 9% 91% 44% 56% 58% 42% 47% 53% 55% 45% 43% 57% 1H'17 1H'18 1H'19 Q2'17 Q2'18 Q2'19 Electrical equipments Steel Structure total Electrical equipments Steel Structure total Revenues from sale of Q2’19 and 1H’19 decreased 80% and 81% compared to the same period of Y’18 from the decrease revenue of selling electrical equipment and telecommunication towers because the communication system 4G is coming to the end of the investment period. 13

Statement of Comprehensive Income - Revenues Structure Revenues from Services : ฿ million ,% 1,000 961 15% 1,922 2,000 -16% 834 9% 808 1,770 -25% 1,443 1,500 500 1,000 500 0 0 10% 4% 92% 4% 2% 95% 3% 13% 51%36% 3% 93% 4% 3% 58% 32% 96% 1% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Other Electrical work Renewable Total Other Electrical work Renewable Total Revenues from services of Q2’19 and 1H’19 decreased 16% and 25% compared to the same period of Y’18. The decreasing came from construction works of substations, from private sector. 14

Statement of Comprehensive Income - Revenues Structure Revenues by Customers : ฿ million ,% 1,000 961 2,000 1,922 15% 9% -16% 1,770 834 -25% 808 1,443 1,500 500 1,000 500 0 0 39% 61% 47% 53% 73% 27% 27% 39% 61% 48% 52% 73% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Government Private Total Government Private Total For Q2’19 and 1H’19 , the percentage of works from Government Sector increased due to the increasing in EGAT’S investment. For private sector, it was decreased due to decreasing in renewable energy projects. The investment in renewable energy is changing from solar farm and wind farm to solar rooftop and waste to energy power plant. 15

Statement of Comprehensive Income Earning from operation Gross Profit : ฿ million ,% 150 289 300 136 -6% -13% 128 22% 252 45% 238 100 94 200 50 100 0 0 19% 81% 1% 99% 9% 91% 26% 74% 12% 88% 5% 95% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Gross Profit - sales Gross profit - service Total Gross Profit - sales Gross profit - service Total Gross profit of Q2’19 and 1H’19 decreased 6% and 13% because of the reduction in revenue which decreased 27% and 36%, when compared to the profit of Y’18. 16

Statement of Comprehensive Income Earning from operation Average Gross Profit margin : % 20% 20% 16.32% 15.10% 15% 15% 11.66% 11.88% 11.00% 10.06% 10% 10% 5% 5% 0% 0% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Gross profit margin Gross profit margin Average gross profit margin of Q2’19 and 1H’19 increased when compared to the same period of Y’18 because of the higher GP in service business. 17

Statement of Comprehensive Income Earning from operation Net Profit : ฿ million ,% 150 50.51 50 128.31 40 51% 100 48% 30 75.06 5.88 22.06 57.54 20 50 56% 85% 49% 415% 52% 10 103% 44% 15% 0 0 -3% -10 -315% -50 -20 Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Profit exclude share profit (loss) associates Share profit(loss) associates Profit exclude share profit (loss) associates Share profit(loss) associates Net profit of Q2’19 and 1H’19 decreased when compared to the same period of Y’18 due to the decreasing in revenue and increased from admisistrativeexpenses (compensation for loss of production to K.R.2 Co., ltd during the remedy turbine foundations). 18

Statement of Comprehensive Income Earning from operation Net Profit margin : % 5% 6% 4.30% 5.22% 5% 4% 4% 3.68% 3% 3.48% 2.39% 3% 2% 2% 1% 0.68% 1% 0% 0% Q2'17 Q2'18 Q2'19 1H'17 1H'18 1H'19 Net profit margin Net profit margin Net margin of Q2’19 and 1H’19 shown profit 0.68% and 3.63% due to the decreasing in revenue and increased from administrative expenses (Special entry). 19

Statement of Financial Position ASSET LIABILITIES & EQUITY 7,184 7,184 6,141 6,141 5,907 5,907 42% 3,241 45% 3,650 38% 51% 2,576 2,275 2,271 2,026 37% 34% 6% 445 372 489 8% 7% 66% 63% 55% 42% 3,943 3,881 52% 3,866 54% 3,045 3,191 3,193 2017 2018 1H'19 2017 2018 1H'19 Current liabilites Current assets Non-Current liabilites Non-current assets Shareholders'equity KEY RATIO Debt to Equity Interest Bearing Debt to Equity ROE ROA 2017 1.36 2017 0.68 2017 2.10 2017 0.89 2018 0.85 2018 0.46 2018 4.56 2018 2.46 1H’19 0.92 1H’19 0.47 2019 F 2.39 2019 F 1.24 20