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STA STA 4Q 4Q19 19 & FY & FY19 19 An Analy lyst st Pre Presentat sentation ion 1 CO CONTENTS TENTS 1. . Financi ancial al Pe Perfor formanc mance 2. ST STA A Bus usiness iness Highlights hlights 3. Na Natural

slide-1
SLIDE 1

1

STA STA

4Q 4Q19 19 & FY & FY19 19 An Analy lyst st Pre Presentat sentation ion

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SLIDE 2

CO CONTENTS TENTS

  • 2. ST

STA A Bus usiness iness Highlights hlights 1. . Financi ancial al Pe Perfor formanc mance

  • 3. Na

Natural ural Rub ubber ber Market rket Si Situation uation

2

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SLIDE 3

3

FIN INANCIAL ANCIAL PER ERFORMAN FORMANCE

1

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SLIDE 4

4

ABBREVIAT ATIONS TSR : Technically specified rubber, which includes STR and SIR

120 20 130 30 140 40 150 50 160 60 Jan-18

  • 18

Fe Feb-18 b-18 Ma Mar-18 18 Apr-18 Apr-18 Ma May-18 y-18 Jun- un-18 Jul-18 ul-18 Aug Aug-18

  • 18

Sep- p-18 18 Oct-18

  • 18

Nov-1 Nov-18 De Dec-18 18 Jan-19

  • 19

Fe Feb-19 b-19 Ma Mar-19 19 Apr-19 Apr-19 Ma May-19 y-19 Jun- un-19 Jul-19 ul-19 Aug Aug-19

  • 19

Sep- p-19 19 Oct-19

  • 19

Nov-1 Nov-19 De Dec-19 19 Jan-20

  • 20

TSR20 20 Price Move vement t in SICOM

($cent/kg.)

Peak NR Output ut Winte nteri ring ng Season

  • n

Be Bein ing g the e SURVIVOR

RVIVOR &

Ga Gaining ningCUSTO

TOMER MER CONFIDENCE FIDENCE

We hav ave e the he lowe

west t D/ D/E E ratio io in the

e “Rubber Processing Industry.”

140.6 .6 $cent/k /kg

136.5 $cent/ nt/kg. . (-3.0%

0%)

slide-5
SLIDE 5

SICOM M Pric ice

(US cent : Kg.)

  • Avg. = 146.5 (+1.9%)

SICOM COM – Oil il Pri rices ces

5

Crude Oil l Prices

(USD : Bbl. l.)

  • Avg. = 140.0 (-4.4%)
  • Avg. = 67.3 (+9.1%)
  • Avg. = 75.0 (+11.5%)

ABBREVIAT ATIONS RSS : Ribbed smoked sheet LTX: Concentrated Latex TSR : Technically specified rubber, which includes STR and SIR

  • Avg. = 132.9 (-5.7%)
  • Avg. = 75.8 (+1.1%)

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19

  • Avg. = 126.7 (-4.6%)
  • Avg. = 68.1 (-10.1%)
  • Avg. = 139.4 (+10.0%)
  • Avg. = 63.9 (-6.1%)
  • Avg. = 151.3 (+8.6%)
  • Avg. = 69.0 (+7.9%)
  • Avg. = 134.7 (-11.0%)
  • Avg. = 61.9 (-10.4%)

Peak NR Output ut Winte nteri ring ng Season

  • n
  • Avg. = 137.0 (+1.7%)
  • Avg. = 63.0 (+1.9%)
  • Avg. = 140.3

(+2.5%)

  • Avg. = 59.75

(-5.2%)

100 120 140 160 180 200 220 Jan-18 Fe Feb- b-18 Ma Mar-18 Apr Apr-18 Ma May-18 Jun-18 Jul-18 Au Aug-18 Se Sep-18 Oct- t-18 Nov Nov-18 Dec Dec-18 Jan-19 Fe Feb- b-19 Ma Mar-19 Apr Apr-19 Ma May-19 Jun-19 Jul-19 Au Aug-19 Se Sep-19 Oct- t-19 No Nov-19 Dec Dec-19 Jan-20 Fe Feb- b-20 Ma Mar-20 RSS3 RSS3 TSR2 SR20 40 40 50 50 60 60 70 70 80 80 90 90 100 Jan-18 Fe Feb- b-18 Ma Mar-18 Apr Apr-18 Ma May-18 Jun-18 Jul-18 Au Aug- g-18 Se Sep-18 Oct Oct-18 Nov Nov-18 Dec Dec-18 Jan-19 Fe Feb- b-19 Ma Mar-19 Apr Apr-19 Ma May-19 Jun-19 Jul-19 Au Aug- g-19 Se Sep-19 Oct- t-19 Nov Nov-19 Dec Dec-19 Jan-20 Fe Feb- b-20 Ma Mar-20

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SLIDE 6

La Latex ex – Butadiene diene – Acry rylonitri lonitrile le - Fore rex

6

Currency ncy

ABBREVIATIONS LTX: Concentrated Latex BD: Butadiene ACN: Acrylonitrile SEA: South East Asia

LTX & BD & A ACN

Price (US cent : Kg.)

  • Avg. = 138.1 (+24.9%)

193.0 (+7.5%) 113.8 (-3.4%)

  • Avg. = 162.2 (+17.5%)

212.8 (+18.5%) 102.3 (-13.3%)

  • Avg. = 31.39 (-4.3%)
  • Avg. = 31.72 (+1.1%) Avg. = 31.81 (+3.4%)
  • Avg. = 32.64 (+2.6%)
  • Avg. = 114.5 (-29.4%)

179.8 (-15.5%) 99.2 (-3.0%)

  • Avg. = 31.44 (-3.7%)
  • Avg. = 112.7 (-1.6%)

152.5 (-15.2%) 112.7 (+14.7%)

  • Avg. = 110.5 (-10.1%)

179.5 (-0.6%) 117.7 (+6.1%)

  • Avg. = 31.45 (+0.02%)
  • Avg. = 104.6 (-7.2%)

214.0 (+40.3%) 128.4 (+14.0%)

  • Avg. = 118.6 (+13.5%)

139.0 (-35.0%) 111.6 (-13.1%)

  • Avg. = 30.60 (-2.7%)

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19

  • Avg. = 30.28 (-1.0%)
  • Avg. = 101.0 (-14.9%)

146.3 (-9.3%) 105.0 (-5.9%)

  • Avg. = 90.5 (-10.4%)

97.2 (-33.6%) 109.2 (+4.0%)

  • Avg. = 30.89

(+2.0%)

40 40 80 80 120 120 160 160 200 200 240 240

Jan-18 Fe Feb- b-18 Ma Mar-18 Apr Apr-18 Ma May-18 Jun-18 Jul-18 Au Aug-18 Se Sep-18 Oct- t-18 Nov Nov-18 De Dec-18 Jan-19 Fe Feb- b-19 Ma Mar-19 Apr Apr-19 Ma May-19 Jun-19 Jul-19 Au Aug-19 Se Sep-19 Oct- t-19 Nov Nov-19 Dec Dec-19 Jan-20 Fe Feb- b-20 Ma Mar-20 BD BD-China AC ACN LT LTX 29 29 30 30 31 31 32 32 33 33 34 34 Jan-18 Feb-18 Ma Mar-18 Ap Apr-18 18 Ma May-18 Jun-18 Jul-18 Au Aug-18 Sep Sep-18 18 Oct- t-18 Nov Nov-18 Dec Dec-18 Jan-19 Fe Feb- b-19 Ma Mar-19 Ap Apr-19 19 Ma May-19 Jun-19 Jul-19 Au Aug-19 Sep Sep-19 19 Oct- t-19 Nov Nov-19 Dec Dec-19 Jan-20 Fe Feb- b-20 Ma Mar-20 USD/T USD/THB

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SLIDE 7

7

Fin inancial ancial Hi High ghlight light

*Adjusting for (reversal) allowance of inventory and realized gains /(losses) from hedging activities

(Unit : THB million) FY19 FY18 [Restated] %YoY 4Q19 3Q19 %QoQ 4Q18 [Restated] %YoY Revenue

60,286 73,136

  • 17.6%

14,881 15,384

  • 3.3%

16,937

  • 12.1%

Sales volume (tons)

1,103,934 1,330,849

  • 17.1%

285,594 272,223 4.9% 314,176

  • 9.1%
  • Avg. selling price (Baht per ton)

43,520 45,979

  • 5.3%

41,404 41,404 0.0% 46,772

  • 11.5%

Gross profit

4,854 7,161

  • 32.2%

1,379 970 42.2% 1,490

  • 7.5%
  • Adj. gross profit*

4,635 8,307

  • 44.2%

1,307 1,402

  • 6.7%

1,651

  • 20.8%

SG&A

(4,571) (5,259)

  • 19.3%

(1,205) (1,081) 11.4% (1,355)

  • 11.1%

Gains (loss) on exchange rate, net

569 (252) N/A 186 107 74.5% 40 361.6%

Other gains, net

(478) 1,203 N/A (271) 308 N/A 156 N/A

Operating profit (loss)

656 3,088

  • 78.8%

185 352

  • 83.4%

297

  • 37.6%

Share of profit (loss) from investments in JV

132 224

  • 40.8%

37 22 66.9% 27 38.5%

EBITDA

3,274 5,716

  • 42.7%

858 998

  • 14.0%

1,053

  • 18.5%

EBIT

788 3,312

  • 76.2%

222 374

  • 40.7%

240

  • 7.4%

Finance costs, net

(856) (906)

  • 5.5%

(188) (204)

  • 7.7%

(223)

  • 15.6%

Net profit

(149) 2,064 N/A 74 135

  • 45.2%

139

  • 46.8%

GP margin

8.1% 9.8%

  • 173.97

9.3% 6.3%

296.15

8.8%

46.53

  • Adj. GP margin*

7.7% 11.4%

  • 366.99

8.8% 9.1%

  • 32.58

9.7%

  • 96.27

Operating profit margin

1.1% 4.2%

  • 313.51

1.2% 2.3%

  • 104.43

1.8%

  • 50.73

EBITDA margin

1.1% 4.2%

  • 313.51

1.2% 2.3%

  • 104.43

1.8%

  • 50.73

Net profit margin

  • 0.2%

2.8%

  • 306.90

0.5% 0.9%

  • 38.08

0.8%

  • 32.37
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SLIDE 8

Sale les s Reve venue nue

8

Sales s Revenue ue by Geography hy Sales s Revenue by Prod

  • duct (THB

HB million)

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SLIDE 9

Gross ss Profi fit t – Adjuste sted d (THB

B million

  • n)

Gross s Profit

  • fit (THB

B million

  • n)

)

Gr Gross ss Pro rofit fit

9

[Rest stated] d] [Rest stated] d] [Rest stated] d] [Rest stated] d]

slide-10
SLIDE 10

10 10

EBIT (THB

HB million

  • n)

EBIT (THB

HB million

  • n)

EBIT IT

[Rest stated] d] EBIT [Rest stated] d]

slide-11
SLIDE 11

11 11

Net Profit

  • fit (THB

B million

  • n)

)

Net Profit

  • fit (THB

B million

  • n)

Net Pro rofit fit

[Rest stated] d] [Rest stated] d]

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SLIDE 12

STA TA Busin siness ess Highlights ghlights

2 2

12 12

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SLIDE 13

46 46

procure urement nt centers rs

8% 8%

market share re of global

  • bal natura

ural rubbe ubber r consump nsumption

  • n in 2019

About ut STA TA: The World’s Leading Fully Integrated Natural Rubber Company

USA Indonesi donesia Sing ngapore pore China na Myanm nmar Thailand nd

45,000 000 rai

rai

(7,2 ,200 00 hectare res) s) of rubber r plant ntations ns

36 36

NR proc

  • cessi

sing ng plant nts s in Thaila land nd, Indo donesi sia and Myanma nmar

13 13

Establish shed d in 1987 987

2. 2.9

million

  • n ton
  • ns in prod
  • duction

tion capacity ty per year

27 27

billion pieces of gloves in production capacity per year

Rub ubber ber Plant ntatio ations Rub ubber ber Proc

  • ces

essin sing Rub ubber ber Gloves

  • ves

1. 1.1 million

  • n ton
  • ns sold

d in 2019

3

locations ns of glove ve factori

  • ries in Tha

hailand nd

19 19.9 .9 billion pieces of gloves sold in 2019 7% 7%

market share re of global

  • bal glove

ves consump nsumption

  • n in 2019

STA’s Global Prese sence nce

> 3, 3,00 000

Rubber r farmers rs and dealers rs being ng members s of STA Friend

iend

mobile application

  • n
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SLIDE 14

Infra rastru structu cture re 13% 13%

Imma mature ure NR Area 65% 65%

Tapping ng Area 20% 20% Approx prox. 45,000 rai 7,200 HA

Upst stre ream am Opera ration tions s –Rubb bber r Pla lant ntation ations

Lampang Sukothai Pichit Phitsanulok

  • k

Petchaboon Chiang Rai Chiang Mai Sakon

  • nNakhor
  • rn

Utaradit Sakaeo Phrae Kalasin Phayao Nan Songkhla Surat Thani Krabi Chumporn Bungkan

Provin inces esin Thailand

19 19

Area of Rubbe ber r Plantati ntations s (2020F 020F) Esti timate ted d Matu ture re Plantations ntations

50 500, 0,00 000 1, 1,00 000, 0,00 000 1, 1,50 500, 0,00 000 2, 2,00 000,00 0,000 2, 2,50 500, 0,00 000 2, 2,00 000 4, 4,00 000 6, 6,00 000 8, 8,00 000 10 10,00 000 12 12,00 000 14 14,00 000

2017 2018 2019 2020F 2021F 2022F 2023F 2024F 2025F 2026F 2027F

Prod

  • ducti

ction

  • n (ton

tons) Tap apping ng, trees trees ( (RHS) HS)

14 14

Note: The green provinces are where our factories located in.

Note: Information as of 31 December 2019

Other Cr Crops ps 2%

Incre rease se number er of tapping area from 1,50 500 rai in 2018 018 to 4,400 ,400 rai in 2019 019 [+193 193%] %]

~1,400 Tons

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SLIDE 15

15 15 Techn hnica icall lly y Spec ecified fied Rubber ber [TSR] Ribbe bed d Smoke ked d Sheet t [RSS]

Mid idst stre ream am Ope perati rations

  • ns – NR Pro

rocessing essing

processi ssing ng facil iliti ties

36 36

Product

  • duction
  • n Ca

Capacity acity (mil. tons)

s)

0.00 3.00 6.00 9.00 12.00 15.00 0.00 0.50 1.00 1.50 2.00 2.50 3.00 2007 2011 2015 2016 2017 2018 2019F 2020F

Glob Global al NR NR Con Consu sumption

  • n (

(RHS HS) En Engine neer ering ng cap capaci acity ty ( (LHS) LHS) Sales es vol volume ( (LHS HS)

24 24 proce

cess ssin ing facili iliti ties es

Capacit city*: y*: 2.1

.10mil. tons/

s/ann nnum TSR RSS LTX

5 5 proce

cess ssin ing facilit ilitie ies

Capacit acity*: *: 0.21

  • 21mil. tons/

s/an annu num

7 7 proces

essi sing facilit ilities es

Capacit city*: y*: 0.5

.55mil. tons/

s/ann nnum Capacit city*: y*: 2.86

86mil

  • mil. tons/

s/an annu num

Note: *Total engineering capacity

[Information as at 31 December 2019]

65% 65%

  • f tota

tal sales revenue in 2019

10% 10%

  • f tota

tal sales revenue in 2019

Concen centrate trated Late tex x [LTX] TX]

5%

  • f tota

tal sales revenue in 2019

slide-16
SLIDE 16

STA’s Ti Tire re Manuf nufact acturer urer Cu Cust stomers mers

16 16

Global Brands ds

slide-17
SLIDE 17

Mo Mobile ile Ap Applic licati ation

  • n ST

STA A FRIENDS IENDS

17 17 Objective: : To buy raw materials from rubber farmers and dealers in Thailand anywhere and anytime [launched Oct-19]

  • No. of Members: > 3,000 rubber farmers & dealers in STA network
slide-18
SLIDE 18

27 27

  • bn. pcs.i

.ins nstalled capacity y per annum um

18 18

  • Established Songkhla Plant
  • Songkhla Plant started Natural

Rubber Powdered Gloves production

1999

  • Started Nitrile Gloves production and distribution

2011

  • Surat Thani Plant started commercial production

2017 2019

  • Changed company’s name to

Sri Trang Glove ves s (Thailan iland) Compan any y Limited ted

  • Sri Trang Glove

ves s (Thailan iland) Compan any y Public lic Limited tedwas established from the amalgamation between Sri Trang Gloves (Thailand) Company Limited and Thaikong Public Company Limited

1989

Do Down wnst stream ream Ope pera ration tions s – Fini inished shed Pro roduc ducts ts

Techn hnica icall lly y Spec ecified fied Rubber ber [TSR]

Targeting to achieve

50 bn. pcs. of gloves per annum by 2025

STGT

Exporti ting ng to

130+ 130+

Countr ntries es

19.9 19.9

  • bn. pcs.

sold in 2019

7% 7%

Glob

  • bal market share

re 3

locati ation

  • ns of glove
  • ve

factor tories es in Thailand nd

slide-19
SLIDE 19

Our r Gl Glove ves s Pro roduc ducts ts

19 19

  • Heavy 6.2 g
  • Balance

ce4.8 g

  • Comfort
  • rt 3.5 g
  • Comfort
  • rt Plus 3.0 g
  • Sense

e 2.5 g

Examin inat ation ion/ Non-Examin Examinat ation ion Gloves Latex ex

Powdere wdered Powder wder-Fr Free ee

Nitrile ile

Powder wder-Fr Free ee

  • Comfort

fort 4.8 g

  • Balance

ce 5.0 g

  • Premi

mium m 5.8 g

  • Comfort

fort 5.0 g

  • Balance

ce Comfo fort rt 5.5 g

  • Balanced

ced Plus 5.6 g

  • Balance

ce5.8 g

  • Premi

mium m 6.2 g

Informati tion

  • n as at 31 Decembe

ber 2019

Product

  • duct Range

Product duct Mix x by Volume lume

61% 61% 67% 67% 39% 39% 33% 33% FY18 18 FY19 19

Ni Nitri rile le Latex

85% 85% 89% 89% 15% 15% 11% 11% FY18 18 FY19 19

Own n Brand nds OEM EM

Our Brands nds

slide-20
SLIDE 20

Asia 39% 39%

Americ rica 27% 27% Europ

  • pe

24% 24% Others rs 10% 10%

Sale les s Vo Volu lume e Bre reakd akdown

  • wn by

by Regio gion

20 20

Informati tion

  • n as at 31 Decembe

ber 2019

Mainta ntain in our market rket share are in developed eloped markets rkets & Expres essively sively exp xpand nd to high growth wth countr ntries ies

Asia 41% 41%

Americ rica 28% 28% Europ

  • pe

24% 24% Others rs 7% 7%

19 19.9 .9

  • bn. pcs.

sold in 2019

2019

16 16.9 .9

  • bn. pcs.

sold in 2018

2018

10% 10% 9% 9% 9% 9% 4% 4% 1% 1%

+17.5% 5%

slide-21
SLIDE 21

150 150 148 148 160 160 171 171 180 180 194 194 210 210 233 233 268 268 300 300 330 330

50 50 100 150 200 250 300 350 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F

Gl Globa bal l Gl Glove ve Mark rket et Outlo look

  • k

Avera rage ge growth h at 10-12% 12% per annum

Global bal Glove ve Deman mand

Source: MARG RGMA and Compa pany

21 21

Globa

  • bal

l Market rket Share re in 2019 19

[bn. pcs.]

Deman mand Ke Keeps ps Growing wing & Hidden en Consumption sumption in Emerging rging Markets rkets

Malay laysia sia 67% 67% Thaila land nd 19% 19%

China na 11% 11%

Indon donesia 3% 3% Source: MARG RGMA

+10% 0%

300 300

  • bn. pcs.
slide-22
SLIDE 22

Incre reasing ng Usage of Hygienic ienic Produ ducts ts in Developin ping Countries tries

Ke Key y Dr Driv ivers rs in in Rubb bber r Gl Glove ve Co Cons nsumption mption

22 22 Growth th in Health lthcare re Indu dustry stry around nd the World ld

Key Drivers: (1) Increase in aging population (2) Supportive government policies and access to medical services (3) Increase in Non-communicable Diseases

150 150 100 100 10 10 6 4

20 20 40 40 60 60 80 80 100 120 140 160

United edState ates Europe China India Africa

Source: The Economist Intelligence Unit as of September 2019

Potential growth of rubber glove demand in developing countries is supported by accelera rated d econ

  • nomic growt
  • wth

h in such h count untri ries, s, incre rease in awareness ss in the import portance of hygi giene and d potential current low rate of rubber glove usage per capita in such countries

  • Pcs. per Capita

Source: MARGMA Industry Brief 2019 on the Rubber Glove Industry

USD mm

%

Health lthcare re Spend nding ng in Each h Region n in 2018 and d 2023 Fore recaste ted d Rubbe ber r Glove Consumpti sumption per Capi pita ta in Develo lope ped d and d Develo lopin ping Countries tries in 2019

Develo eloped ed Countries es Develo eloping Countr trie ies

7.4 3.6 7.1 4.7 3.8 5.0 (8 (8.0 .0) (6 (6.0 .0) (4 (4.0 .0) (2 (2.0 .0) 0.0 .0 2.0 .0 4.0 .0 6.0 .0 8.0 .0 2,0 ,000 4,0 ,000 6,0 ,000 8,0 ,000 10,0 ,000

Midd Middle E le Eas ast an and A Afr frica ica La Lati tin Ame Americ rica Asia Asia a and Au Austra stralia We West E st Europe Nor North Ame th Americ rica Global 2018 (LHS (LHS) 2023F (LHS (LHS) CA CAGR 20 2018 -

  • 2023 (R

(RHS HS)

slide-23
SLIDE 23

15 15 23 23 27 27 33 33

50 50

5 10 10 15 15 20 20 25 25 30 30 35 35 40 40 45 45 50 50 End- nd-2017 2017 End- nd-2018 2018 End- nd-2019 2019 End- nd-2020 2020 End- nd-2021 2021 End- nd-2022 2022 End- nd-2023 2023 End- nd-2024 2024 End- nd-2025 2025

+54%

Ag Aggress ressive ively ly Expa pand nd to to Cap apture ture Ma Mark rket et Dema mand nd

23 23

[bn. pcs.]

Capacity acity Expan ansi sion

  • n

+16%

Expand d ~4 4 bn.pc pcs. . each h year

+53%

Songkhla Surat Thani Trang 14.9 bn. pcs. per annum 5.7 bn. pcs. per annum 6.6 bn. pcs. per annum

1 3

3 3 Produ

duction tion Facili liti ties

2

Tota tal l Insta stalled led Capacity ty of

27.2 .2

bn

  • bn. pcs. per year

+20%

slide-24
SLIDE 24

Buildin ding Dippi ping ng Line ne Machi hine ne Insta tallation llation Test st Run 24 24

Ca Capa pacity city Exp xpansion ansion Pro rogress gress

STGT-Tr Trang ng Plant nt 2 STGT-So Songkhla ngkhla Plant ant 4

slide-25
SLIDE 25

STGT’s IPO Plan

25 25

STA and RBL(1) STH(2)

  • Dr. Viyavoo

vood Sinc ncha haroe roenkul nkul Family(3) Others rs

Remark: (1) RubberlandProducts Company Limited (2) Sri Trang Holdings Company Limited (3) Including 1) Mr. KitichaiSincharoenkul, 2)Mr. Lee Paul Sumade, 3) Ms. Voradi Sincharoenkul, 4) Mr. Somwang Sincharoenkul, and 5) Mr. VeerasithSinchareonkul

81.0 .08% 8% 5.39% 7.09% 1.93% 4.51%

Pre re-IPO IPO Post-IPO IPO

STA and RBL(1)

1)

STH(2)

2)

  • Dr. Viyavo

vood

  • d

Sinchar haroe

  • enku

nkul Family(3)

3)

Other hers

55.9 .95% 5% 3.72% 4.89% 1.33% 3.11%

Publ blic

31.0 .00% 0%

Numb mber er of newly ly-iss ssued ed ordinar ary shares es not exceed

eding ng 31.00% 0% of total al paid-up capital tal of STGT

Expected Benefits s to STA TA Expected Benefits s to STGT

  • 1. Lessening STA’s burden in providing financial support to STGT
  • 2. Lowering STA’s overall financial costs in the long run
  • 3. The business structure of STA will be clearly delineated.
  • 4. The value of STGT’s shares will be fully reflected in STA’s share prices.
  • 1. STGT will be able to independently raise funds for business expansion.
  • 2. Being a listed company will help to lower STGT’s financial costs in the

long run

  • 3. The IPO will enhance the public awareness of STGT.
  • 4. STGT’s shares will have more liquidity and its share prices can be used

as a reference price in the future.

slide-26
SLIDE 26

: Our production facilities are run by woodchip.

Our r Co Compe petiti titive ve Edg dges es

26 26

The US’s Tariff Sche hedul dule for r Glov

  • ves

Product ct Countr ntry y of Origin Thailan and Malays aysia China na Latex x & Nitr trile Befor

  • re

e 1 Sep 2019 1 Sep 2019

Medica cal Free Free Free 15% Non-Med Medica ical GSP 3% 3% 3% 3% + + 25%=2 =28%

Raw w Mate teria rial l / Late tex x Supply ly

Closed to the biggest source of latex which is the main raw material for “Latex Gloves”

No export

  • rt tax charge

harged [No CESS expen pense] se]

This makes our r latex cost 1.2 2 Baht/Kg.

  • Kg. cheaper

r than other players outside Thailand.

No conce ncern rn over er gas price ce No labor

  • r issue

ue as most of our workers are local people & we complying with BSCI

I standard rd.

Tari riff ff benef nefits ts

Note: GSP, Generalized System of Preferences, is a tariff system that allows exemptions or more favorable customs duties for certain products and countries.

Lower cost t for capa pacity city expansi pansion

  • n

Thai Government introduced

an intere rest st subsi bsidy dy progra ram

to anyone who consumes more rubber domestically. The Government will subsidy the interest rate not

t over r than n 3% for the expansion.

slide-27
SLIDE 27

Rubb bber er Gl Glove ve Busi sines ness s Flo low

27 27

slide-28
SLIDE 28

28 28

NATU TURA RAL L RUBB BBER ER MA MARK RKET ET SIT ITUATION TION

3 3

slide-29
SLIDE 29

Deman and (LHS)

Gl Globa bal l NR Sit ituati uation

  • n

10.8 11.0 11.0 11.4 12.2 .2 12.1 12.7 13.2 .2 13.8 13.8 14.0 14.4 14.8 15.1 15.4 15.7 16.0 16.4 16.7 17.0 10.4 11.2 11.7 12.3 .3 12.1 12.3 .3 12.6 .6 13.5 13.9 13.7 14.1 14.5 14.9 15.1 15.4 15.7 16.1 16.4 16.6 .6 16.8

(356) 205 612 840 (52) 122 (82) 331 331 123 (23) 39 37 37 93 77 77 82 64 34 18 18 (50) (193)

  • 4
  • 400

400 800

  • 5
  • 5

5 10 10 15 15 20 20

2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019F 2019F 2020F 2020F 2021F 2021F 2022F 2022F 2023F 2023F 2024F 2024F 2025F 2025F 2026F 2026F 2027F 2027F 2028F 2028F 2029F 2029F

(Unit : million tons) Supply ly (LHS) Supply ly Surp rplu lus s / (Defi eficit cit) (RHS)

Natural l Rubber Demand nd & S Supply ly

Glob

  • bal NR demand

nd in 202 020 0 is expected d to be 14.0 .01 1 million

  • n tons,

s, +1.9 .9% % YoY. Y. The average age growt wth in the next 3 years is expected d at +2.4 .4% % .

Demand nd

Glob

  • bal NR supply

y in 202 020 0 is expected d to be 14.0 .05 5 million

  • n tons,

s, +2. 2.3% 3% YoY. Y. The average ge grow

  • wth

h in the next 3 years is expected d at +2.7 .7% % .

Supply ply

(Unit : ‘000 tons)

29 29

  • Increased tapping frequency to maintain

the same levels of income

  • Increased untapped mature trees
  • Lack of good agro-management
  • Skilled labour shortages [shifting from

rubber farming to other jobs]

Short-term term impact ct Long-term term impact act

  • Discouragement of new planting
  • Delay of replanting schedule
  • Uprooting of rubber trees & replacing with
  • ther crops
  • 71%

71%of NR consumption mption comes s from m the tire indust stry, y, whose demand is expected to have no growth wth in 2020, in line with global tire production.

  • 29%

29%of NR consumption mption comes s from m non-ti tire e consumers, mers, whose demand is expected to increase ease sharply y by 5.2% 2%in 2020, driven by increased consumption by gloves producers.

Source : IRSG, December 2019

slide-30
SLIDE 30

0% 0% 20% 20% 40% 40% 60% 60% 80% 80% 100% 100% 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020

Ame Americ rica Afr Africa ica Ot Other r AS ASIA AS ASEAN AN

NR Supp pply ly

Indo dones nesia ia 22%

Thail ilan and d 36% 36%

Vietnam nam9% 9% China na 6% 6% Cote d'Iv Ivori

  • rie6%

6%

India5% 5% CAMAL AL 5% Malays ysia ia4% 4% Others rs6% 6%

14.0 4.05

  • mil. ton
  • ns

2020F 20F globa bal produ ducti tion n growth th = 2.3% 3%

2020F 0F Major Produc ducers rs

30 30

~80% 80% of NR output came from ASEA EAN

100 200 300 400 500 600 700 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028

(Unit: ‘000 H.A.)

  • Expect

ct to be less s than 50,000 ha each year r

  • Drop larg

rgely ely in Thailan land and Indonesia sia 50 50 100 150 200 250 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028

10, 0,000 00 10, 0,500 00 11, 1,000 00 11, 1,500 00 12, 2,000 00 12, 2,500 00 13, 3,000 00 13, 3,500 00

2010 2012 2014 2016 2018 2020 2022 2024 2026 2028

New Plant nting ing Area Re Re-Pl Plant nting ing Area

(Unit: ‘000 H.A.)

  • Durin

ring 2019-2020, the growt wth is expected ted from m Malay aysi sia a and Vietnam. am.

  • The major

r risk k is the limit itatio ation of capital tal financin ing to small all farmers mers.

Total l Area

(Unit: ‘000 H.A.)

  • Durin

ring 2010-2014, total al planti ting area in Asia-Pacifi cific c region jump mped ed sharp rply ly ~20%.

  • In the next decade,

e, total al rubber er area a is expected cted to drop more e than 500,000 ha or ~4%. Source : IRSG, July 2019

slide-31
SLIDE 31

Ch China na 39% 39%

EU EU 9% 9% Indi dia8% 8% USA7% 7% Thailand nd6% 6%

Japan5% 5% Indonesia sia5% 5% Malays ysia ia4% 4% Others rs17% 17%

2020F 0F Major NR Consume mers rs

2020F 20F globa bal growth wth in consumpti nsumption n = = 1.9%

14.01 .01

  • mil. ton
  • ns

NR Deman and

NR Consump mptio ion n Dive versi rsific ficatio ion

31 31

Source : IRSG, July 2019

(Unit: ‘000 tons)

NR Consump mptio ion n in Non-Tir Tire Indust stry ry

0% 0% 20% 40% 60% 80% 100% 2016 2017 2018 2019 2020 Ame Americ rica EU EU AS ASEAN AN Ot Other r As Asia ia Chin ina

NR Consump umptio ion n in Tire Industry ustry

0.0 1.0 2.0 3.0 4.0 5.0 6.0 2,000 4,000 6,000 8,000 10,000 12,000 2017 2018 2019 2020 2021 Ame Americ rica EU EU AS ASEAN AN Ot Other r As Asia ia Chin China % G Gro rowth

(Unit: ‘000 tons) (%) (%)

  • 4
  • 4.0
  • 2
  • 2.0

0.0 2.0 4.0 6.0 1,000 2,000 3,000 4,000 5,000 2017 2018 2019 2020 2021 Ame Americ rica EU EU AS ASEAN AN Ot Other r As Asia ia Chin ina % G Gro rowth

slide-32
SLIDE 32

Co Commodity modity Pri rice ce Movem

  • vement

ent & S & SHF HFE Stock tocks s

32 32

Commodity

  • dity Pric

ice Moveme ment nt

Source : IRSG, December 2019 and Bloomberg

Qingdao gdao & SHFE E Stocks, s, China [tons]

ns]

Note: There is no QD data announced since 20/10/18.

( (100,000) 1 100,000 3 300,000 5 500,000 7 700,000 Jan Jan-14 Mar ar-14 14 May- ay-14 Ju Jul-14 Sep-14 Nov-

  • v-14

Jan Jan-15 Mar ar-15 15 May- ay-15 Ju Jul-15 Se Sep-15 Nov-

  • v-15

Jan Jan-16 Mar ar-16 16 May- ay-16 Ju Jul-16 Sep-16 Nov-

  • v-16

Jan Jan-17 Mar ar-17 17 May- ay-17 Ju Jul-17 Sep-17 Nov-

  • v-17

Jan Jan-18 Mar ar-18 18 May- ay-18 Ju Jul-18 Sep-18 Nov-

  • v-18

Jan Jan-19 Mar ar-19 May- ay-19 Ju Jul-19 Sep-19 Nov-

  • v-19

Jan Jan-20 SHFE FE QD QD QD & D & S SHF HFE

  • 5%

5% 5% 15% 25% 35% Jan Jan-19 Feb Feb-19 Mar ar-19 Ap Apr-19 May- ay-19 Ju Jun-1 n-19 Ju Jul-19 Au Aug-19 Sep-19 Oct- ct-19 Nov-

  • v-19

Dec Dec-19 Jan Jan-20 Feb eb-20 Mar ar-20 SICO COM M -

  • TSR20

20 Bre rent nt Cr Crude ude Oil l Pri rice Bloo loombe mberg Commo Commodity Ind dity Index

~240 40,0 ,000 00T ~490 90,0 ,000 00T

slide-33
SLIDE 33
  • 50

50 10 100 15 150 20 200 25 250 30 300 35 350 40 400 45 450 50 500 55 550 60 600

Jan-04 Apr Apr-04 Jul-04 Oct- t-04 Jan-05 Apr Apr-05 Jul-05 Oct- t-05 Jan-06 Apr Apr-06 Jul-06 Oct Oct-06 Jan-07 Apr Apr-07 Jul-07 Oct- t-07 Jan-08 Apr Apr-08 Jul-08 Oct Oct-08 Jan-09 Apr Apr-09 Jul-09 Oct- t-09 Jan-10 Apr Apr-10 Jul-10 Oct- t-10 Jan-11 Apr Apr-11 Jul-11 Oct- t-11 Jan-12 Apr Apr-12 Jul-12 Oct- t-12 Jan-13 Apr Apr-13 Jul-13 Oct- t-13 Jan-14 Apr Apr-14 Jul-14 Oct- t-14 Jan-15 Apr Apr-15 Jul-15 Oct Oct-15 Jan-16 Apr Apr-16 Jul-16 Oct- t-16 Jan-17 Apr Apr-17 Jul-17 Oct Oct-17 Jan-18 Apr Apr-18 Jul-18 Oct- t-18 Jan-19 Apr Apr-19 Jul-19 Oct- t-19 Jan-20

575 cent/k t/kg.

33 33

TSR20 20 Hi Histo storica rical l Price ce Movemen

  • vement [2004 – 2020]

102 cent/ t/kg.

Source : Bloomberg

228 cent/ t/kg.

TSR20 20 (US cent

nt : Kg.)

slide-34
SLIDE 34

34 34

APPEN ENDIX DIX ES ESG Polic icy

slide-35
SLIDE 35

Pro rofile file

35 35 Symbo bol

STA NC12 12

2017 17 CG Score re

Excellence

Anti-Corru Corrupti ption

Certified by Thai CAC

Closi sing ng Price 52 52-WeekHigh/ h/Low

Baht 11.80 per share [28/02/2020] Baht 16.90 per share Baht 9.45 per share

Outsta tandi nding ng Share res

1,535,999,998 shares @ 1 Baht per share

Marke rket t Capit italiz alizatio ation

Baht 18.12 billion [28/02/2020]

P/E [times]

N/A

% Free Float

55.06% [Total shareholders : 11,014 Shareholders as of

[28/02/2020]

Divide dend ndPolicy icy

Approximately 30% of net prof

  • fit in a financial year but not

in excess of retained earnings (with additional conditions)

Shareholding holding Structure re

Top 10 10 Share reholders rs [as at 28/02/2020] %

1 Sri Trang Holding (“STH”) 22.38 2 Sincharoenkul family 18.70 3 Thai NVDR Co., Ltd 6.63 4

  • Mrs. PromsukSinchareonkul

2.93 5 CITIBANK NOMS SPORE PTE LTD 2.63 6 Thai R.T.N. Holding Co., Ltd. 2.46 7 CITIGROUP GLOBAL MARKETS LIMITED-PB CLIENT-NRBS COLLATERAL 1.72 8 SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED 1.62 9 UOB KAY HIAN PRIVATE LIMITED 1.47 10 BANK JULIUS BAER & CO. LTD, SINGAPORE 1.21

Sincha ncharo roenk nkul ul Fami mily 19% 19% STH 22% 22% Thai NVDR DR 6% 6% Thai Inst stitut utions

  • ns

5% 5% Foreign gn Instit stitut utions ns 20% 20% Others rs 28% 28%

slide-36
SLIDE 36

36 36 Conta tact t Inve vestor stor Relations tions Tel:(+66)2-207-4500 Ext. 1402 E-Ma Mail il:IR@sritranggroup.com