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Asian Seafoods Coldstorage PLC. Krungsri Corporate Day-20 th June 2017 TUNA BUSINESS FEED BUSINESS FROZEN BUSINESS PETFOOD BUSINESS DISTRIBUTION BUSINESS We are the right choice! Disclaimer This presentation includes forward-looking

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We are the right choice!

FROZEN BUSINESS TUNA BUSINESS PETFOOD BUSINESS FEED BUSINESS DISTRIBUTION BUSINESS

Asian Seafoods Coldstorage PLC.

Krungsri Corporate Day-20th June 2017

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Disclaimer

This presentation includes forward-looking statements and numbers that are subject to risks and uncertainties including, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand. ASIAN, Asian Seafoods Coldstorage PLC., based these forward-looking statements on its views with respect to future events and financial performance. Actual performance described herein could differ materially, better or worse, from that projected in the forward-looking statement due to the inherent uncertainty of estimates, forecasts and projections. 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 ASIAN 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.

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Asian Overview

  • Asian Business
  • Major Events
  • Asian Link
  • Sustainable Issues

Asian Performance

  • 2016 Highlight
  • Q1/2017 Performance

Asian Ambition 2020 Asian 2017 Target

Agenda

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ASIAN OVERVIEW

Asian Seafoods Coldstorage Public Company Limited & its Subsidiaries

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Management Team

Mr.Somsak Amorrattanachaikul Chief Executive Officer Mr.Somchai Amorrattanachaikul Senior Managing Director Mr.Suriya Prasatbuntitya Executive Vice President Mr.Hendrikus (Rik) Van Westendorp Executive Vice President & Chief Financial officer Mr.Aekarat Punnasung MD-Asian

  • Mr. Yasuto Togashi

MD- Asian Alliance Mrs.Suree Jangsawat MD-Asian Surat Mr.Wallop Lomlimp MD-Asian Feed

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Krungsri Corporate Day-20th June 2017

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Asian Business

Frozen Business Tuna Business Pet Food Business

Aqua culture Feed Business

Distribution Business

Asian Seafoods Coldstorage PLC. Asian Seafoods Coldstorage (Suratthani) Co., Ltd. Asian Feed Co., Ltd. Asian Food Co., Ltd. Asian Alliance International Co., Ltd. Asian Alliance International Co., Ltd.

4.6 billion baht 1.3 billion baht 1.6 billion baht 1.2 billion baht 0.4 billion baht 2016 Business Size

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2014

Asian Seafood Coldstorage (Sriracha) Co., Ltd. were closed

2006

  • Acquired Asian

Feed Co., Ltd.

  • Founded Asian

Seafood Coldstorage (Sriracha) Co., Ltd.

1990s 2000s 2010s

1964

Starting Business

1993

Founded Asian Seafoods Coldstorage (Suratthani) Co., Ltd.

1994

Registered Asian Seafoods Coldstorage PLC.

2005

Founded Asian Alliance International Co., Ltd.

2012

  • Founded Asian

Food Co., Ltd.

  • EMS Outbreak

in Shrimp

2013

  • AAI invested in

Pet Food Line

  • Step into ready-

to-cook/eat meal

2015

  • Quadruple Growth

in Pet Food

  • Turnaround of

Asian Feed Co., Ltd.

2016

  • Implement ERP
  • Sustainable sourcing

& Good Labor Practice

  • Established Nutrition

Database in Pet Food & Feed

  • Ambition 2020 were

set

2015s

Major Events

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Frozen Business

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Frozen Business of Asian Group comprises of 3 plants

  • Asian Seafoods Coldstorage

Public Company Limited (Klongtoey)

  • Asian Seafoods Coldstorage

Public Company Limited (Samutsakorn)

  • Asian Seafoods Coldstorage

(Suratthani) Company Limited

Frozen Business

Asian Seafoods Coldstorage PCL(Klongtoey) Asian Seafoods Coldstorage PCL (Samutsakorn) Asian Seafoods Coldstorage (Suratthani) Company Limited)

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Frozen Business

  • Production capacity of 4,000 tons a

year

  • Sillago and Sillago breaded products
  • r tempura mostly distributed to

Japanese customers

  • Brands that customer trust
  • Relationship to raw material sources
  • Coldstorage facility right in the

center of BKK

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  • Production capacity of 24,000

tons per year

  • Focuses on frozen shrimp and

expands into a variety of value- added products (ready-to-cook and ready-to-eat meal)

  • Provide full traceability on 100%

non-IUU Fishmeal (in corporate with Asian Feed Co., Ltd.)

  • “4 Stars” certified shrimp

products

Frozen Business

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  • Production capacity of 18,000

tons per year

  • Focuses on Squid and raw

ready-to-eat product (Sasimi)

  • It can fetch fresh materials as it

situated close to the country’s important source of marine raw materials and the center of shrimp farms in southern part

  • f Thailand

Frozen Business

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Frozen Trademarks

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Tuna Business

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Tuna Business

  • Operated by Asian Alliance

International Co., Ltd., located in Samutsakorn province

  • Annual production capacity of

45,000 tons

  • Traditional tuna product in

cans and pouches, and Value added product (ready-to-eat) such as Tuna with rice meal

  • Quite new facilities compare to
  • thers which ready to expand

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Petfood Business

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Petfood Business

  • Also operated by Asian Alliance

International Co., Ltd. with annual production capacity of 15,000 tons.

  • Serve as a “co-developer” who

understand customers and provide ideas for new products in variety of packaging.

  • With ERP system implementation, the

main focus is to streamline operations by growing with the larger customer and reduce the number of small clients. The target segments are premium brand

  • wners and private labels showing

continued growth.

  • Fishmeal processing using by-products

derived from processed tuna and wet pet food manufacturing process.

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Aquaculture Feed Business

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Aquaculture Feed Business

  • Asian Feed Co., Ltd. located in

Petchaburi province

  • Manufactures and distributes

aquaculture feed under its own trademarks

  • Production capacity of 60,000 tons of

sinking pellet and 25,000 tons of floating pellet per year.

  • Advanced laboratory and academic

expertise to provide water quality analysis inspection, aquatic animal quality evaluation, food quality development, technique advisory for rearing and solution for diseases in aquatic animals.

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  • Develop and implement research

plan using Asian Group’s farm in Suratthani for both product quality and new farm model test

Aquaculture Feed Business

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Aquaculture Feed Trademarks

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Distribution Business

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Distribution Business

  • Asian Food Co., Ltd. engages

in imported frozen food products and delivered to Thai wholesalers, modern retail and restaurant chains

  • Our cold storage in Bangkok

and Samutsakorn are also the hub for our food distribution business

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Asian Link

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Asian’s Sustainability

  • Product Quality and Services
  • Human Development and Human Value
  • Commit avoiding to involve in illegal fishing, procuring,

importing, exporting, transiting and distributing aquatic life and products obtained from illegal fishing and labor, and human trafficking.

  • Anti-Corruption Policy

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ASIAN PERFORMANCE

Asian Seafoods Coldstorage Public Company Limited & its Subsidiaries

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2016 Highlight

  • An excellent Q4 made up for a slow start of 2016, with full year results exceeding

expectations.

  • Consolidated Sales Revenues in Q4/2016 amounted 2,896 million Baht, up 25%
  • YoY. Main contributor were very strong sales volumes in the Frozen, Pet food and

Aqua Feed segments.

  • Revenues for the full year 2016 reached 9,206 million Baht, a 16% increase

compared to the previous year.

  • Gross Profit for the year was 8.4%, down from 9.6% the previous year.

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2016 Highlight

  • Consolidated Net Profit in Q4/2016 was 125 million Baht, a record high,

and 149% higher y.o.y. This was mainly a result of big volumes and improved margins in commodity shrimp products and strong volumes in pet food

  • Net Profit for the full year 2016 was 155 million Baht, a15% decrease

y.o.y. Less favorable exchange rate effects than in the previous year and higher allowances for receivables and inventories contributed to this.

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  • Asian’s policy is to finance around 50% of its requirements by long

term funding to stabilized its financial source.

  • In July 2015 a 750 million BHT 2 year bond was successfully issued.

First steps to balance its short term and long term financing.

  • In July 2016, a new 5-year loan of 750 million Baht was concluded.

Also in July a 562.5 million 2-year bond was redeemed.

  • Asian’s balance sheet further strengthened. The Debt to Equity ratio

decreased from 2.0 a year before to 1.9.

2016 Highlight

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Q1/2017 Highlight

  • Sales revenues increased 25% y.o.y. to 2,482 million baht, mainly driven

by higher volumes in petfood and aqua-feed, and higher prices of shrimp and squid.

2,011 2,558 2,823 2,909 2,505 2,099 2,229 2,484 2,071 1,802 1,845 2,052 1,639 1,646 2,345 2,309 1,989 1,985 2,336 2,896 2,482 67 205 145 85 (7) 143 83 197 152 130 62 88 107 147 265 244 170 157 177 269 302

SALES VS. GROSS PROFIT

Sales and Service Income Gross (loss) Profit

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Q1/2017 Highlight

  • Excellent first quarter 2017

with net profit of 106 million baht

  • Gross Profit margin was

12.2% versus 8.6% in the same quarter last year. Price increases of shrimp, squid and tuna could mostly be passed on to customers and an improved petfood – tuna product mix in the canning plant increased

  • verall margins

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Q1/2017 Highlight

Q1 2016 Q1 2017 %Growth Volume (Mt) 20,195 23,378 16% Frozen business 4,015 3,675

  • 8%

Tuna Business 3,173 2,572

  • 19%

Pet Food & Fishmeal Business 2,730 4,465 64% Aquaculture Feed Business 7,197 11,509 60% Distribution business 3,080 1,157

  • 62%

Revenues (Millions Baht) 2,110 2,655 26% Frozen business 997 1,141 14% Tuna Business 369 334

  • 10%

Pet Food & Fishmeal Business 331 630 90% Aquaculture Feed Business 225 323 44% Distribution business 188 227 21%

Sales By Business Segment

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Q1/2017 Highlight

  • Product Mix Development.

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Q1/2017 Highlight

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Q1/2017 Highlight

  • Balance sheet ratios further improved. Net debt decreased to 3,045

million baht. Debt to equity ratio decreased to 1.8 and net debt to equity was 1.4 (1.9 and 1.5 at 31 December 2016 respectively).

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Frozen Q1/2017

  • Sales revenues for the quarter increased 14% y.o.y. to 1,141 million

baht, despite lower volumes shipped in mainly sillago fish.

  • As prices increased significantly and could generally be passed on to

customers, the lower volumes were more than off-set, resulting in higher revenues and improved margins compared to the year before.

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Tuna Q1/2017

  • Canned Tuna volumes were y.o.y. down 19% and sales revenues were

down 10%, with higher prices partly off-setting the lower volume.

  • The selective order intake as opposed to a volume approach the year

before.

  • Purchase of tuna was matched with orders on hand did improve

margin even though tuna price and availability are unpredictable.

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Petfood Q1/2017

  • Sales revenues were 630 million baht, almost double compared with

the same quarter last year, 16% increases compared to a very strong 4Q16.

  • Volume mainly increased with customers in the premium market

segment.

  • Improved in product mix and overall gross profit.
  • Capacity extension started in this quarter and will be completed by

the end of Q3.

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Aquaculture feed Q1/2017

  • Feed volumes strongly increased 60% y.o.y. to 11.5k MT, with strong

growth both in shrimp feed and fish feed.

  • Sales revenues grew 44% y.o.y, reflecting lower average selling prices

due to lower raw material costs and formula optimizations.

  • Margins remained good with improved market share as customer

satisfied with our feed quality and service at competitive prices.

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Distribution Q1/2017

  • Sales revenues increased to 227 million baht with lower volume at

higher prices. Gross profit increased compared to the same quarter a year before.

  • Focus on selective products which matched to target margin.
  • Seeking for opportunity on acquisition both domestic area and aboard

to strengthen group’s distribution channel.

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ASIAN AMBITION 2020

Asian Seafoods Coldstorage Public Company Limited & Its Subsidiaries

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Sales (Billion Baht) 2015 2016 Key Strategy/Success 2020 Target Frozen Business 3.6 4.6 Shrimp and VAP 6 Tuna Business 1.2 1.4 VAP 1.5 Pet Food Business 1.6 1.6 Co-Developer, Customer Relation 4 Feed Business 1.1 1.2 Sustainability, Fishmeal Substitution, Dry Feed 2 Dirtribution 0.4 0.4 Acquistion 1 Total Asian Group 7.9 9.2 14.5 Consolidate GP 8.2%* 8.4% 10%-12%

2015 GP excluding Fx Benefit

Ambition 2020

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Ambition 2020

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Ambition 2020

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ASIAN 2017 TARGET

Asian Seafoods Coldstorage Public Company Limited & Its Subsidiaries

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2017 Sales Target

Sales (Billion Baht) 2016 Q1 2017 2017 Target Frozen Business 4.6 1.1 5.1 Tuna Business 1.4 0.3 1.3 Pet Food Business 1.6 0.6 1.9 Feed Business 1.2 0.3 1.6 Distribution 0.4 0.2 0.6 Total Asian Group 9.2 2.7 10.5

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Thanks!

Any questions?