Quarter 3, 2017 November 21, 2017 | The Stock Exchange of Thailand - - PowerPoint PPT Presentation

Enhances lives everyday with The Green Chemical Concept

Opportunity Day Quarter 3, 2017

November 21, 2017 | The Stock Exchange of Thailand

Disclaimer

This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described

• herein. This presentation contains a number of forward-looking statements including, in particular,

statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand. GGC has based these forward-looking statements on its views with respect to future events and financial performance. Actual financial performance of the entities described herein could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than

• anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking

statements. Forward-looking statements represent estimates and assumptions only as of the date that they were

• made. The information contained in this presentation is subject to change without notice and GGC

does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.

Agenda

Highlights Palm Oil Market Update Financial Performance GGC Going Forward

Agenda

Highlights Palm Oil Market Update Financial Performance GGC Going Forward

3Q17 Highlights

Palm Oil Market Updates Financial Performance GGC Going Forward Highlights

Page 5

Key Highlights in the quarter

+ Construction projects : on schedule + Both ME & FA plants ran at high U-rates + Optimized inventory level: ME stock loss lower 93%qoq FA stock loss lower 57%qoq. FA Business Unit: + Tight supply in China and India induced demand for natural FA + Natural FA prices were in competitive range to Synthetic FA + Achieved high sales volume of 31,574 tons

• Continual fall in CPO price led to soft

product price

• THB continually appreciated over USD
• Biocomplex Phase 1 : timeline shifts

+ Improving 9M17 Core Performance:

• Consoled Core EBITDA + 55%yoy
• FA Core EBITDA + 841%yoy

ME Business Unit: + Domestic Crude Palm Oil inventory remained high during raining season + B7 applied for the full quarter

3Q17 Highlights

Palm Oil Market Updates Financial Performance GGC Going Forward Highlights

CPO (DIT) : THB/Kg ME (EPPO) : THB/Lt

METHYL ESTER (B100) BUSINESS UNIT

Biodiesel Mandate ME Market P2F : THB/Kg GGC’s ME Operational Performance

Plant Utilization Rate Adjusted EBITDA (MB) Page 6 34.18 25.84 22.43 32.55 26.35 3Q16 2Q17 3Q17 9M16 9M17 37.58 29.74 26.34 35.59 30.09 3Q16 2Q17 3Q17 9M16 9M17 4.29 4.95 4.79 4.31 4.97 3Q16 2Q17 3Q17 9M16 9M17 72% 106% 112% 90% 101% 3Q16 2Q17 3Q17 9M16 9M17 3Q16 2Q17 3Q17 9M16 9M17

B7,B5 B3 B7 B5,B7 B5,B7

60,433 85,879 97,373 228,650 252,457 3Q16 2Q17 3Q17 9M16 9M17

B7,B5 B3

Sales Volume (Tons)

251 184 111 789 459 3Q16 2Q17 3Q17 9M16 9M17

• 11

476 244 96 901 3Q16 2Q17 3Q17 9M16 9M17

3Q17 Highlights

Palm Oil Market Updates Financial Performance GGC Going Forward Highlights

FATTY ALCOHOLS BUSINESS UNIT

CPKO (MPOB) : USD/Ton FA (ICIS) : USD/Ton Natural Fatty Alcohols regained Competitiveness vs. Synthetic ones FA Market P2F : USD/Ton GGC’s FA Operational Performance

Plant Utilization Rate Sales Volume (Tons) Adjusted EBITDA (MB) Synthetic FA (C1215) Price : USD/Ton Natural Mid Cut FA (C1214) Price : USD/Ton Page 7 1,398 999 1,156 1,230 1,224 3Q16 2Q17 3Q17 9M16 9M17 1,828 1,783 1,820 1,685 1,949 3Q16 2Q17 3Q17 9M16 9M17

45 48 48 43 53 3Q16 2Q17 3Q17 9M16 9M17

Crude Oil Price (WTI) : USD/BBL 21,046 27,643 31,574 72,092 79,107 3Q16 2Q17 3Q17 9M16 9M17 109% 113% 123% 95% 108% 3Q16 2Q17 3Q17 9M16 9M17 149 584 433 209 481 3Q16 2Q17 3Q17 9M16 9M17

727 703 704 661 712 3Q16 2Q17 3Q17 9M16 9M17

Ethylene Price (USGC) : USD/Ton

1,852 2,657 2,205 1,576 2,440 1,828 1,783 1,820 1,685 1,949

3Q16 2Q17 3Q17 9M16 9M17

Projects in the pipeline

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Refined Glycerine Plant 2 20 KTA Project Kernel Nut Extraction (TETSO) Methyl Ester Plant 2 Refined Glycerine Plant 2 Oleo Specialties Biocomplex Phase 1

Capacity Feedstock Intake 90 KTA Methyl Ester 200 KTA Refined Glycerine 20 KTA 14 KTA Sugarcane : 2.4 mm TPA Ethanol : 186 mm LPA CAPEX 380 MB (GGC holds 30%) 1,650 MB TBA TBA 7,615 MB (GGC will hold 50%) Project Progress Update Under Construction Under Construction Feasibility Study Feasibility Study FID : 3Q/18 Scheduled COD 4Q/17 4Q/18 Targeted : 2Q/19 Targeted : 4Q/19 4Q/20

2017 2018 2019

Kernel Nut Extraction 90 KTA Feed Intake Methyl Ester Plant 2 200 KTA Biocomplex Phase 1

Sugarcane : 2.4 mm TPA Ethanol : 186 mm LPA

2020

Page 8

Jan’ Q’ – Apr’

2021

BOD 3Q’18 – Oleo Specialties

On Schedule - Project Construction

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Page 9

Kernel Nut Extraction Plant Methyl Ester Plant 2

Agenda

Highlights Palm Oil Market Update Financial Performance GGC Going Forward

Q4 Highlights of Palm Oil & Oleochemicals Market

Palm Oil Market Updates Financial Performance GGC Going Forward Highlights

Page 11

ME Chain ME Price & Spread FA Price & Spread ME:

• ME demand is expected to be better than last quarter

 However, demand in Oct’17 was still low due to rain and flood situation in many areas  Demand is expected to ramp up again in travelling season during Nov’17-Dec’17 CPO:

• Q4, Palm oil production will decrease with seasonal trends
• National CPO stock

 Aug’17 : 426,591 T  Sep’17 : 466,080 T FA Chain

257 219 149 177 424 584 433 443 464 1,490 1,737 1,828 1,983 2,243 1,783 1,820 2,041 1,806 1,027 1,265 1,398 1,505 1,516 999 1,156 1,332 1,119 500 1,000 1,500 2,000 2,500 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Oct'17 2017 (F) USD/T Spread FA CPKO 3.88 3.88 4.29 4.67 5.27 4.95 4.79 4.95 5.08 37.60 42.39 43.45 38.84 39.54 34.38 30.45 29.84 33.55 29.58 33.90 34.18 30.14 30.78 25.84 22.43 21.59 25.16 0.0 10.0 20.0 30.0 40.0 50.0 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Oct'17 2017 (F) THB/KG Spread ME CPO

FA:

• FA demand is healthy because HPC producers are preparing to

stock and produce products for coming Christmas & New Year festival

• FA price is expected to increase follow CPKO price and high

demand CPKO:

• CPKO price increase due to lower production (seasonal trends)
• Demand is expected to pick up ahead of long holiday at the end of

the year.

Agenda

Highlights Palm Oil Market Update Financial Performance GGC Going Forward

5.2% 1.5% 1.1% 6.1% 1.9% 204 71 55 795 270 3Q16 2Q17 3Q17 9M16 9M17

2,593 2,903 3,277 9,000 8,822 1,307 1,923 1,903 4,080 5,431 3,901 4,826 5,180 13,080 14,253 3Q16 2Q17 3Q17 9M16 9M17 ME Business Unit FA Business Unit

Consolidated Financial Performance

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward Sales Revenue (MB) EBITDA & Adjusted EBITDA* (MB) / Adjusted EBITDA Margin* (%) 6.1% 13.7% 6.8% 6.8% 9.5%

188 251 65 184 102 111 743 789 298 459 160

• 11

163 476 109 244 449 96 453 901 349 239 228 660 211 355 1,192 885 751 1,360

3Q16 2Q17 3Q17 9M16 9M17

ME EBITDA ME Adjusted EBITDA FA EBITDA FA Adjusted EBITDA Consolidated Adjusted EBITDA Margin

Net Profit (MB) & Net Profit Margin (%)

Page 13

Financial Position

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Statements of Financial Position

Cash and Cash Equivalent Account Receivable, Inventory, and other Current Assets PP&E Non-current Assets Other Liabilities Interest Bearing Debt Shareholders’ Equities

December 31, 2016 Baht 11,631 million September 30, 2017 Baht 14,501 million

Key Financial Ratios Repayment Plan Cash Flows

Million Baht Million Baht Million Baht

231 280 338 441 567 765

2017 2018 2019 2020 2021 2022

528 935 (2,292) 2,575 1,745

Page 14

1.0 1.8 1.9 2.2 2.4

0.2 0.3 0.3 0.2 0.2

30 Sep 1631 Dec 1631 Mar 1730 Jun 1730 Sep 17

Net IBD/EBITDA Net IBD/Equity

13.2 11.0 10.1 5.8 4.4 10.7 8.7 7.3 4.4 3.2

30 Sep 1631 Dec 1631 Mar 1730 Jun 1730 Sep 17

ROE ROA

528 (2,303) 1,212 2,400 1,837

Beginning Cash Operating Cash Flows CAPEX & Investment Financing Ending Cash

*

*cash from IPO was partially invested as current investment of 1,800 MB

Performance 3Q17 vs. 2Q17

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Page 15

Net Profit : Million Baht

Overall operating profit in 3Q17 was lower than 2Q17, from softened unit margin of ME Business Unit due to the factor of product discount and lower feedstock competitiveness as well as for FA Business Unit which was due to the market price that consumer perceived the spike of CPKO price was a short term. Stock Gain (Loss) & NRV in 3Q17 was loss of 144 MB while there was stock loss of 432 MB in 2Q17,mainly due to lower stock loss in both ME & FA Business Units as for ME-CPO price was lower down in a softer trend than 2Q17, whereas the FA-CPKO price rebounded but the stock loss still existed a bit due to its multi-production steps process.

71 (305) 288 5 4 55 2Q17 Operating Profits Stock Gain/(Loss) & NRV FX Others 3Q17

Performance 3Q17 vs. 3Q16

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Page 16

Net Profit : Million Baht

Overall operating profit in 3Q17 was higher than 3Q16, primarily from both the increase in spread

• f Fatty Alcohols following market situation as well as the higher sales volume of Methyl Ester and

Fatty Alcohols. Stock Gain (Loss) & NRV in 3Q17 was recorded as loss of 144 MB while in 3Q16 it was stock gain

• f 110 MB as in 3Q16 it was the up-trend of feedstock price.

Gain/(Loss) from FX in 3Q17 was loss 26 MB against gain in 3Q16 of 4 MB due to baht appreciation in 3Q17.

204 121 (253) 26 10 55 3Q16 Operating Profits Stock Gain/(Loss) & NRV FX Others 3Q17

Performance 9M17 vs. 9M16

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Page 17

Net Profit : Million Baht

Overall operating profit in 9M17 was higher than 9M16, mainly from increasing in spread of Fatty Alcohols following market situation. However, GGC had an increase in IPO expenses of c.22 MB YoY. Stock Gain (Loss) & NRV in 9M17 was recognized loss of 609 MB while recorded stock gain of 307 MB in 9M16, mainly due to the trend of continuous decline in prices of crude palm oil and crude palm kernel oil from 1Q17 Gain/(Loss) from FX in 9M17 was recorded loss of 73 MB against gain in 9M16 of 10 MB due to baht appreciation in 9M17.

795 480 (916) (83) (6) 270 9M16 Operating Profits Stock Gain/(Loss) & NRV FX Others 9M17

Agenda

Highlights Palm Oil Market Update Financial Performance GGC Going Forward

Outlook in 4Q17

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

Page 19

Expansion Project

• COD KN Extraction project in 4Q17 is on schedule, and will positively support FA

business unit as following:

• Raw material cost saving
• Feedstock supply security

Feedstock Price Trend

• CPO price slightly falls from 3Q17 but in a very limit level, while CPKO price on

average would be at the same level as the end of 3Q17

• CPKO prices may slightly pick up from seasonal demand towards the year end.

Product Demand

• Seasonal demand pick-up during year end due to travelling season (ME) as well

as festive HPC gifts production (FA) Plant Operations

• Fully run with high utilization rates of ME and FA plants

Appendix

Aspiration to Become a Leading Green Chemical Company

Our Strategies in Completing the Three Pillar Growth Roadmap

Product Portfolio Aspiration Under the Three Pillar Strategy Maintaining leadership position in our current business

1

Continuously pursuing operational excellences to improve profitability

2

Expanding customer base and maintaining relationship with existing valuable customers

3

Emphasizing on R&D for high value products

4

Expansion into specialty oleochemicals

5

Moving toward biochemicals and bioplastics

6 Biofuel

ME

Ethanol FAEO

GL FA

Special- ties

Bioplastics

Our Strategies

Palm Base Biochemicals Sugar Base

Bio chemicals Bio Plastics

Page 21

Overcoming Capacity Limitation via Expansion of ME Plant 2

Expanding GGC’s ME Plant to Future Capture Demand while Maximizing Profitability

Plant Optimization

Serve as base plant as can

• perate at

low cost Support demand at different mandate level by alternating feed type

Maximize Profitability

ME Plant 1 ME Plant 2

 Feed Flexibility when deemed economical  Optimal feed use  Minimize initial investments and operating cost

Refined Palm Oil (RPO)

Crude Palm Oil (CPO)

Methyl Ester 300 KTA Methyl Ester 200 KTA Refine Glycerine 31 KTA Crude Glycerine

123.9%

Utilization(1)

ME Plant 1

ME Plant 2

Crude Palm Oil (CPO) Others i.e. palm stearin or mixed feed

Map Ta Phut, Rayong Nongyai, Chonburi

Flexibility Efficiency

Jul/16 FID

Project Timeline

Project Progress

CAPEX 1,650 MB

Apr/17 4Q/18

COD

Foundation Stone Placement Ceremony

Page 22

Applications

By Product Value Added to ME Plant 2 (RGL)

CGL captive use to produce RGL with higher value Project Timeline CAPEX TBA

2Q/19

Targeted : COD

Under Feasibility Study ME Plant 2 Refined Gylcerine Plant 2 20 KTA Refined Glycerine Crude Glycerine

• Integrated project with ME Plant 2
• Enhance value of by-product, Crude Glycerine from ME production
• Capture market growth of high volume industries

Page 23

CPKO

Profitability Enhancement thru’ vertical integration

JV with experienced partner in Kernel Nut Extraction for Fatty Alcohols feedstock security and cost saving

Started Construction

Project Timeline CAPEX 380 MB

4Q/17

COD

3Q/16 Kernel Nut Extraction (TETSO) 90 KTA (Feedstock Intake Cap) Kernel Nut Fatty Alcohols

• GGC holds 30% in JV (TETSO) with Eastern Palm Oil, experienced partner
• Location : Nongyai, Chonburi (Close to palm oil plantation)
• Security of CPKO supply
• Competitiveness enhancement
• Competitive CPKO cost
• Logistic cost saving from better proximity to FA plant

Project Progress

Page 24

announce COD within DEC’

Higher - Value Downstream Products

Specialty Oleochemicals Development towards higher profitability Project Timeline CAPEX TBA

4Q/19

Targeted COD

Fatty Alcohols Multi Purpose Reactor Specialty Oleochemicals

“Recipe”

Special Feedstocks Raw Materials For Property Enhancement

Ingredients in HPC products

• Downstream integration with high margin products,
• Help reduce country import
• Target markets: Thailand, and CLMV

Under Feasibility Study

Page 25

Biocomplex - Leveraging on Thailand’s Bioeconomy

Integrated Complex to Produce Biofuel, Biochemicals, Bioplastics from Sugarcane and Electricity/Steam from Biomass

Phase 2

Biochemical / Bioplastic Plant Cane Juice

• r other RMs

Crushing Mill Ethanol Plant 186 mm litre per annum 2.4 mm tons / annum Cane Juice Ethanol

• ther RMs;

HTM, Molasses

Sugar cane Plantation

Electricity to grid Utility & Waste Co-Generation Sugar cane

Phase 1

Electricity Bagasses Waste Electricity End Applications

Oil Fracking

E&E Construction

Durable Packaging Film / Fiber Auto High Value Added Pharma/Cosmetic Ingredient

Bioplastics Biochemicals 3Q/18 FID

Project Timeline Biocomplex Phase 1 CAPEX 7,615 MB

4Q/20

COD

Start Construction 3Q/18 Phase 1 Location : Nakornsawan GGC will hold 50% in JV with KTIS Under EIA approval process Key Investment Decision Criteria:

• Amendment of related regulation
• Approval to procure electricity by PEA

Page 26

พรบ อ้อยฯ ให้ใช้น ้ำอ้อยไปผลิตเอทำนอล แก้ไข แล้วจะประกำศ 1 ธ.ค. 60 ประมูลขำยไฟ ยื่นประมูลไปแล้ว โดย ลพบุรีฯ เมื่อ

20 ต.ค. 60 ประกำศผล 14 ธ.ค. 60

ปัจจุบันยังติดที่ประกำศกระทรวงอุตสำหกรรม เรื่อง กำรตั้งโรงงำนที่ใช้อ้อยเป็นวัตถุดิบที่ต้องมีระยะห่ำง กัน อย่ำงน้อย 50 กิโลเมตร

4Q Highlights of Palm Oil & Oleochemicals Market

Palm Oil Market Updates Financial Performance GGC Going Forward Highlights

Page 27

CPKO CPO

2015 2016 2017 2015 2016 2017

Quarter 3Q/2016 Quarter 2Q/2017 Quarter 3Q/2017 % YoY % QoQ

9M/2016 9M/2017 % YoY Plant Utilization Rate (%) 109% 113% 123% 14% 9% 95% 108% 13% Sales Volume (Tons) 21,046 27,643 31,574 50% 14% 72,092 79,107 10% Sales Revenue (Millon Baht) 1,307 1,923 1,903 46%

• 1%

4,080 5,431 33% EBITDA (Million Baht) 160 163 109

• 32%
• 33%

449 453 1% EBITDA Margin (%) 12.3% 8.5% 5.7%

• 6.5%
• 2.7%

11.0% 8.3%

• 2.7%

Stock Gain/(Loss) & NRV 172

• 313
• 135
• 179%
• 57%

353

• 449
• 227%

Adjusted EBITDA (Million Baht)(1)

• 11

476 244 2237%

• 49%

96 901 841% Adjusted EBITDA Margin (%)

• 0.9%

24.7% 12.8% 13.7%

• 11.9%

2.3% 16.6% 14.2%

Note : (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV

Quarter 3Q/2016 Quarter 2Q/2017 Quarter 3Q/2017 % YoY % QoQ

9M/2016 9M/2017 % YoY Plant Utilization Rate (%) (1) 72% 106% 112% 40% 6% 90% 101% 11% Sales Volume (Tons) (2) 60,433 85,879 97,373 61% 13% 228,650 252,457 10% Sales Volume (Million Litres) 70 99 113 61% 13% 264 292 10% Sales Revenue (Millon Baht) 2,593 2,903 3,277 26% 13% 9,000 8,822

• 2%

EBITDA (Million Baht) 188 65 102

• 46%

57% 743 298

• 60%

EBITDA Margin (%) 7.3% 2.2% 3.1%

• 4.2%

0.9% 8.3% 3.4%

• 4.9%

Stock Gain/(Loss) & NRV

• 62
• 119 - 9
• 86%
• 93%
• 46
• 160

247% Adjusted EBITDA (Million Baht)(3) 251 184 111

• 56%
• 40%

789 459

• 42%

Adjusted EBITDA Margin (%) 9.7% 6.3% 3.4%

• 6%
• 3%

8.8% 5.2%

• 3.6%

Note : (1) Nameplate Capacity 300,000 Tons per year (2) Coversion ratio: 0.865 Tons = c.1,000 Litres (3) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV

Key Performance By Business Unit

Palm Oil Market Updates Financial Performance Highlights GGC Going Forward

METHYL ESTER (B100) BUSINESS UNIT

Page 28

FATTY ALCOHOLS BUSINESS UNIT

Consolidated Income Statement

Page 29

Unit (Million Baht) MB % MB % MB % MB % MB % MB % MB % MB % Sales Revenue 3,901 100 4,826 100 5,180 100 1,280 33 354 7 13,080 100 14,253 100 1,173 9 Feedstock (3,157) (81) (3,540) (73) (4,186) (81) (1,029) 33 (646) 18 (10,595) (81) (11,071) (78) (476) 4 NRV

• - (19) (0) 18

18 n.a. 37 (191)

• - (2) (0) (2)

n.a. Product to Feed Margin 744 19 1,267 26 1,012 20 268 36 (255) (20) 2,485 19 3,180 22 695 28 Other Variable Costs (323) (8) (416) (9) (458) (9) (135) 42 (43) 10 (1,077) (8) (1,230) (9) (153) 14 Fixed Costs (134) (3) (137) (3) (130) (3) 4 (3) 7 (5) (392) (3) (406) (3) (14) 4 Stock Gain/(Loss) 110 3 (413) (9) (161) (3) (271) (247) 251 (61) 307 2 (608) (4) (915) (298) SG&A (63) (2) (85) (2) (71) (1) (7) 12 15 (17) (172) (1) (226) (2) (54) 31 Other Income 10 11 19 8 81 8 69 36 40 3 9 EBITDA 344 9 228 5 211 4 (133) (39) (17) (7) 1,187 9 751 5 (436) (37) Depreciation and Amortization (140) (4) (141) (3) (143) (3) (3) 2 (2) 2 (406) (3) (421) (3) (15) 4 EBIT 204 5 87 2 68 1 (136) (67) (19) (22) 781 6 330 2 (451) (58) Finance Costs (16) (0) (15) (0) (12) (0) 4 (27) 3 (23) (38) (0) (49) (0) (11) 30 FX Gain/(Loss) (1) 4 0 (26) (1) (22) (0) (26) (649) 5 (17) 10 (73) (1) (83) (797) Shares of profit/(loss) from investment 27 1 16 15 (13) (47) (2) (10) 80 1 60 (20) (25) Income Tax Expenses (15) (0) 9 0 6 0 21 (137) (3) (37) (14) (0) 2 0 17 (115) Net Profit 204 5 71 1 55 1 (149) (73) (16) (23) 819 6 270 2 (549) (67) Profit/(Loss) attributable to

• Owners of the company

204 5 71 1 55 1 (149) (73) (16) (23) 795 6 270 2 (525) (66) Adjusted EBITDA (2) 234 6 660 14 355 7 121 51 (305) (46) 880 7 1,360 10 480 55

Note : (1) Including Gain/(Loss) from FX and Derivatives (2) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV

3Q/17 9M/2016 9M/2017 YoY YoY QoQ 2Q/17 3Q/16

T H A N K Y O U

Global Green Chemicals Public Company Limited

555/1 , Energy Complex, Building A, 4th Floor, Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok 10900, Thailand Tel: +66(0) 2 558 7300 Fax: +66(0) 2 558 7301 www.ggcplc.com

For further information or enquiries, please contact our Investor Relations Team : ir@ggcplc.com

Puvadol Vasudhara IR Manager puvadol.v@ggcplc.com +662 558 7307 Vatcharaphorn Paripontpochanapisuti IR Financial Analyst vatcharaphorn.p@ggcplc.com +662 558 7345