Gulf Energy Development Public Company Limited Company Presentation Investor Relations February 2021 2020Index Highlights

2021 Outlook

Appendix 2020 Highlights: Acquisitions

Power Generation Power Generation Power Generation Renewable Gas Hin Kong Power Burapa Power Stake in Marafiq BKR2 PTTNGD

✓ acquired 49% of ordinary ✓ acquired 35% of ordinary ✓ restructured shareholding in ✓ acquired a 50% interest in ✓ acquired 40% of ordinary shares of HKH from RATCH shares of BPH from NPS Oman project and increased its BKR2 shares in PTT NGD equity stake to directly hold ✓ to develop and operate Hin ✓ to develop and operate Burapa 49% shares in Marafiq ✓ operating offshore wind farm ✓ natural gas distribution business Kong Power Project in Power Project in project in Germany province ✓ Marafiq has exclusive rights to ✓ over 250 industrial customers provide utility services in Duqm ✓ guaranteed Feed-in-Tariff (FiT) in 13 industrial areas in SEZ for 25 years backed by the German Metropolitan Region government and province

Installed Capacity: Installed Capacity: Installed Capacity (DIPWP): Installed Capacity: Sales Volume: 1,540 MW 600 MW Power: ≈ 326 MW 464.8 MW Approx. 30 million mmbtu/year Water: ≈ 1,667 m3/hour Shareholding: Shareholding: Shareholding: Shareholding: Shareholding: 49% GULF 35% GULF 49% GULF 50% GULF 40% GULF 51% RATCH 65% NPS 51% OQ 50% Ørsted 58% PTT 2% CPB Equity

Status: Status: Status: Status: Established: 1996 • EIA approval obtained • EIA approval obtained Under construction (DIPWP): • Achieved COD in Apr 2019 Recognize profit to GULF in 2021 • EPC contract signed in Sep 2020 • Start construction by 2025 86.75% Completed • Share transfer completed on Sep • Expect to finalize GSA in Q1 2021 24, 2020 • Financial close expected in Q4 2021 or Q1 2022 SCOD : SCOD (DIPWP): SCOD : Nov 2027 Phase 1 (40 MW): November 2021 Unit 1: Mar 2024 (770 MW) Phase 2 (286 MW): 2022 Unit 2: Jan 2025 (770 MW)

3 Investment in PTT NGD GULF acquired 40% of PTT NGD, strengthening its commitment in the Gas Business

CPB Equity Established: 1996 Rojana Industrial Park (Ayudhaya) Bangpa-In Industrial Estate

58% 40% 2% Business Nature: Nava Nakorn Industrial Estate • Operates a natural gas distribution Industrial Area business

AMATA • Purchases natural gas from PTT at Bangkadi Industrial Park wholesale price and sells gas to over 250 industrial customers at retail price 80% 20% in 13 industrial areas Lad Krabang Industrial Estate • Revenue linked with fuel oil

• Cost linked with pool gas price Bang Plee Industrial Estate & M-Thai Industrial Estate

Bang Poo Industrial Estate & Sales volume: Bang Poo Mai Industrial Area approx. 30 million mmbtu/year ✓ GULF acquired 40% ordinary shares in PTT Amata City NGD from International Power S.A. Status: In operation, with profit to be ✓ Investment cost of USD 90 mn or approx. THB Hemaraj Eastern recognizable to GULF in 2021 Seaboard Industrial Estate 2,700 mn & Eastern Seaboard Industrial Estate ✓ Strengthen GULF’s gas business Amata City Rayong

Source: PTT NGD

4 2020 Highlights: Financial Achievements Solid credibility and strong financial position

1) Bond issuance 2) Rights offering 3) GTN1 Refinance

• Bond size : THB 10,000 mn • Rights offering size : THB 32,000 mn • Loan size : USD 43.3 mn • Tenor : 3-10 years • Rights offering ratio : 10:1 • Term : 17 years • Average rate : 2.98% • Rights offering price : THB 30/share • Lenders : • Approx. 2.5x oversubscription • Approx. 1.26x oversubscription Export-Import Bank of (EXIM), Siam Commercial Bank (SCB)

5 2020Index Highlights

2021 Outlook

Appendix 2021 Project CODs Gross installed capacity increased • Adding 1,494 MW in 2021 from 6,409 MW to 7,903 MW from these projects:

1 2 3 Gulf SRC (IPP) Mekong Wind (Offshore Wind) DIPWP (Captive) 1,325 MW COD in 2021 128 MW COD in 2021 40 MW COD in 2021

+1,494 MW Shareholding: 70% GULF (75% dividends) 95% GULF 49% GULF 30% Mitsui & Co. 5% TTC Group 51% OQ 7,903 MW Installed Power: ≈ 326 MW 2,650 MW up to 310 MW 6,409 MW Capacity: Water: ≈ 1,667 m3/hour Location: WHA Eastern Seaboard Industrial Estate Ben Tre Province, Vietnam Duqm Special Economic Zone, Oman 1, , Thailand

Fuel Type: Gas-fired Offshore wind Gas/Diesel

Tariff: AP + EP US 9.8c./kWh Phase 1 (40 MW): ≈ US 22c./kWh Phase 2 (286 MW): ≈ US 56c./kWh

25 yrs (+5 yrs renewal) with Duqm PPA: 25 years with EGAT 20 years with EVN 2020 2021 refinery COD: Unit 1 (662.5 MW): March 31, 2021 Phase 1 (30 MW): May 2021 • Phase 1 (40 MW): November 2021 Unit 2 (662.5 MW): October 1, 2021 Phases 2-3 (98 MW): October 2021 • Phase 2 (286 MW): 2022 Phases 4-8 (182 MW): Under MOIT consideration to be included in PDP8 within [Q1’21] Project Cost: THB 50.0 billion Approx. USD 618 million Approx. USD 483 million

7 2021 Key Activities

Map Ta Phut 3 New Contracts Signing Expected Timeline ✓ PPP contract signed in Oct 2019 ✓ EPC contract signed in Jul 2020 ✓ NTP1 & Construction expected to start in Apr 2021* 1. M6 & M81 Motorways ✓ SCOD: 2023 (land reclamation), 2027 (LNG terminal) *subject to IEAT issue NTP1

Projects under study: ✓ M&As of renewables in Vietnam, Europe, UK, USA and Asia, etc. PPP Contract Signing expected by Q1’21 ✓ Hydropower projects ✓ LNG-to-power ✓ Battery Energy Storage System

GNC ✓ Sell additional electricity to IUs in Kabinburi Industrial Zone ✓ GNC target to sell approx. 35 MW to new IU customers 2. Phase 3 ✓ SCOD to start from Q4’21 to Q2’22 ✓ Investment Cost: THB 200 million in the construction of a 17-km 22-kv transmission line (approx. 9-10 months construction,

PPP Contract Signing expected by including permit approvals) Q2’21 Gulf1 ✓ Operate solar rooftops and energy related businesses such as solar farms, and maintenance services ✓ Target to secure 200MW from customers this year ✓ SCOD to start from Q4’21 onwards

8 Investment Plan (2021F – 2030F)

GULF’s Investment Plan Use of Funds in 2021

Unit: THB billion ≈ THB 30 – 40 billion for projects including;

POWER GENERATION RENEWABLE ENERGY GAS • 5,300 MW IPPs • Mekong Wind • Gulf LNG approx. 30 - 40 • Hin Kong Power • Gulf1 projects (Year 2021) • Burapa Power INFRASTRUCTURE OTHER INVESTMENTS • Oman DIPWP • Map Ta Phut 3 • Future projects • Laem Chabang 3 • Motorway projects approx. 60 - 70 (Year 2022 - 2030)

Source of Funds A combination of: • Internal cash flow from operating projects • Bond issuance approx. 90 - 110 • Long-term loans from financial institutions (Year 2021 - 2030)

9 Core Business Overview

Power Generation Renewable Energy Hydro Power Infrastructure & Utilities Gas 13,566 MW 920 MW

40% Gulf JP 75% Gulf Solar [Laos Hydropower] 70% Gulf MTP 35% Gulf WHA MT Ownership 4,237 MW Ownership 0.6 MW Under study Ownership Industrial development Ownership Natural gas distribution 2 IPPs and 7 SPPs 4 Solar rooftop VSPPs (land reclamation) 2 projects COD: 2013 – 2015 COD: 2014 – 2015 3 years construction 4,000,000 mmbtu/year SCOD: [2023] COD: 2018 – 2019 70% Gulf MP 100% Gulf Chana Green Ownership 1,563 MW Ownership 25 MW 12 SPPs 1 Biomass project 40% Laem Chabang Ph3 70% Gulf MTP COD: 2017 – 2019 COD: 2020 Ownership Deep sea container port Ownership LNG terminal > 4 million TEU/year Up to 10.8 MTPA Independent Power SCOD: [2024 – 2028] SCOD: [2027] 70% 90% GTN1 & GTN2 (subject to LNG demand) Ownership Development Ownership 119 MW (75% dividend) 5,300 MW 2 Solar farms 2 IPPs COD: 2019 BGSR 6 & BGSR 81 COD: 2021 – 2024 40% LNG Shipper Licenses Ownership Intercity motorway Total 1.7 MTPA Mekong Wind Operation & Maintenance • Hin Kong Holding : 49% Hin Kong 95% Up to 310 MW M6: 196 km 1.4 MTPA Ownership Ownership 1,540 MW 1 Offshore wind farm (8 phases) M81: 96 km • Gulf : 0.3 MTPA 1 IPP SCOD: SCOD: [2023] COD: 2024 – 2025 Ph 1-3 (128 MW): 2021 Ph 4-8 (182 MW): BSE (One BKK Proj.) PTT NGD under PDP8 consideration 33% 40% 35% Burapa Ownership Electricity distribution Ownership Natural gas distribution (240 MW) Ownership 600 MW 50% Borkum Riffgrund 2 30,000,000 mmbtu/year 1 IPP SCOD: 2022 Ownership 465 MW COD: 2027 1 Offshore wind farm District chilled water COD: 2019 (40,000 RT) 49% Duqm Power SCOD: [2023 – 2026] Ownership 326 MW 100% Gulf1 1 power & water project Ownership Solar energy related COD: 2021 – 2022 businesses

[LNG-to-power]

Data as of December 2020 10 Power capacity growth (committed PPAs) and target

Gross Installed Capacity (MW): Gross Capacity by Fuel Types

13,886 13,886 14,486 13,116 Jan 2021 Year 2027 Year 2030 (Target) 11,021 9,514 5,800 MW 13,566 MW (90%) (94%) 7,903 Power IPP: 11,172 MW (77%) Generation 6,409 6,409 IPP: 3,406 MW (53%) 5,919 SPP: 2,394 MW (17%) 70% SPP: 2,394 MW (37%)

919 MW Renewables 609 MW (6%) 30% (10%) 2019 2020 Jan-21 2021 2022 2023 2024 2025 2026 2027 6,409 MW 14,486 MW Operating IPD Mekong Wind Oman HKP Burapa Gulf1 Total Renewables capacity Power Generation Renewables growth from:

Equity Installed Capacity (MW): Equity Capacity by Fuel Types 7,878 7,878 8,088 7,501 Jan 2021 Year 2027 6,196 5,095 2,594 MW 7,428 MW Renewables in Vietnam, 4,028 (88%) (92%) Europe, US & Asia IPP: 6,197 MW (77%) 2,959 2,959 IPP: 1,362 MW (46%) 2,701 SPP: 1,232 MW (15%) SPP: 1,232 MW (42%)

659 MW 365 MW (8%) (12%) 2019 2020 Jan-21 2021 2022 2023 2024 2025 2026 2027 2,959 MW 8,088 MW Operating IPD Mekong Wind Oman HKP Burapa Gulf1 Total Power Generation Renewables

11 2020Index Highlights

2021 Outlook

Appendix Power Generation & Renewable Energy Businesses Total of 36 power projects in 4 countries

Germany Thailand Vietnam Oman

1 project 1 project under construction in operation

26 projects 2 projects in operation in operation

5 projects 1 project under development/ under development/ construction construction

Installed capacity* Gross Equity

In operation (by end of 2021) 7,903 MW 4,028 MW

Under development / construction 6,583 MW 4,060 MW

In operation Total (by 2027) 14,486 MW 8,088 MW Preparing for or under construction/ development

Note: * Installed capacity excludes any prospects such as LNG-to-power and hydropower projects. 13 Power Generation Percentage of Power sold to EGAT and IUs

EGAT: Q3/2020 12% ✓ 25-year PPAs with EGAT Industrial Users ✓ 80% Minimum Offtake (SPPs) ✓ Receive Availability Payment (IPPs) regardless of electricity dispatch ✓ Fuel cost and FX pass-through

88% Industrial Users (IUs):

✓ 15-year Long Term Agreements ✓ 50 – 70% Minimum Take ✓ Diversified customers across different sectors

2027E 5% Industrial Users

95%

15 Power Sold to Industrial Customers Well-diversified customers limit impact from economic downturn

Most of Gulf’s power generation capacity are secured with EGAT’s PPAs while industrial users are diverse in sectors Petchem & Food & Chemicals, 6% Q3/20 Beverage, 6% Textiles, 5% Electronics, 8% 88% 12% Packaging, 9% Others, 13%

Construction Material, 9%

Automotive, 43% Industrial Users

Industrial Customers Load Factor IU customers = 189 firms secured as of Dec 2020 Industrial users demand is back to normal seasonality level

63.0% 62.6% 62.4% 61.9% 63.5% 59.2% 57.6% 54.7% • Normal seasonality • Slight drop due to 49.0% 50.3% long public holidays 45.9%

Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20

16 Power Generation Operating Projects - Gulf JP – 2 IPPs & 7 SPPs (4,237 MW)

Gulf JP Company Limited 2 IPPs 7 SPPs 40% 60% Installed Electricity: 3,406 MW Electricity: 831 MW capacity Steam: 92 TPH

Contracted Electricity: 3,200 MW Electricity: 838 MW 2 IPPs: 7 SPPs: capacity Steam: 68 TPH PPA: Signed with EGAT, ✓ Signed with EGAT, ✓ for 25 years for 25 years GKP1 GKP2 GSA: Signed with PTT ✓ Signed with PTT ✓

Signed with MHPS & Signed with Toyo Engineering & EPC: ✓ ✓ STECON MIT-Power GTLC GNNK

LTSA: Signed with MHPS ✓ Signed with SIEMENS ✓

GNLL GCRN COD: 2014 – 2015 2013

Project cost: Approx 41,000 MB Approx 44,000 MB

GNK2

17 Power Generation Operating Projects - Gulf MP – 12 SPPs (1,563 MW)

Gulf MP Company Limited Gulf MP – 12 SPPs 70% 30% Electricity: 1,563.4 MW Installed capacity Steam: 225.0 TPH Electricity: 1,489.7 MW All projects in operation Contracted capacity Steam: 210.5 TPH

PPA: Signed with EGAT, for 25 years ✓ COD 2017 GSA: Signed with PTT ✓ GVTP GTS1 GTS2 GTS3 COD 16 May 2017✓COD 8 Jul 2017 ✓ COD 1 Sep 2017✓COD 1 Nov 2017✓ EPC: Signed with Toyo Engineering ✓

COD LTSA: Signed with SIEMENS and GE ✓ 2018 GTS4 GNC GBL GBP COD: 2017 – 2019 COD 1 Jan 2018✓COD 1 Mar 2018✓ COD 1 Sep 2018✓COD 1 Nov 2018✓

Project cost: 6,000 - 6,200 MB / SPP

COD 2019 GNLL2 GNPM GNRV1 GNRV2 COD 1 Jan 2019 ✓COD 1 Mar 2019✓COD 1 May 2019✓COD 1 Jul 2019 ✓

18 Power Generation IPPs under construction/development in Thailand Construction and development progress as planned for all projects

Gulf SRC Gulf PD Hin Kong Power Burapa Power

Installed Capacity: 2,650 MW 2,650 MW 1,540 MW 600 MW

Shareholding: 70% GULF (75% dividends) 70% GULF (75% dividends) 49% GULF 35% GULF 30% Mitsui & Co. 30% Mitsui & Co. 51% RATCH Group 65% NPS

Location: WHA Eastern Seaboard Industrial Estate 1, Rojana Rayong 2 Industrial Park, Hin Kong subdistrict, Khao Hin Son subdistrict, Chonburi province, Thailand , Thailand Mueang district, , Ratchaburi province, Thailand , Thailand Fuel Type: Gas-fired Gas-fired Gas-fired Gas-fired

SCOD: Units 1 & 2: Mar & Oct 2021 (1,325 MW) Units 1 & 2: Mar & Oct 2023 (1,325 MW) Unit 1: Mar 2024 (770 MW) Nov 2027 Units 3 & 4: Apr & Oct 2022 (1,325 MW) Units 3 & 4: Apr & Oct 2024 (1,325 MW) Unit 2: Jan 2025 (770 MW)

Project Cost: THB 50.0 billion Approx. THB 50.0 billion [to be disclosed] [to be disclosed]

Status: • Construction progress: 88.3% • Construction progress: 24.0% • EIA approval obtained • EIA approval obtained • 1st sync: 30 Oct 2020 • EPC contract signed in Sep 2020 • Start construction by 2025 • Currently under trial run (6 months) • Expect to finalize GSA in Q1 2021 • Financial close and construction expected to start in Q2 2021

Note: Project progress as of Dec 2020 19 Power Generation DIPWP Project in Oman Potential to expand business in Duqm SEZ

Duqm Independent Power & Water Project (DIPWP)

Location: Duqm Special Economic Zone, Oman

OQ (previously Oman Oil) Kuwait Petroleum Installed Power: ≈ 326 MW Capacity: Water: ≈ 1,667 m3/hour 49.0% 51.0% 50.0% 50.0%

Contracted Power: ≈ 208 MW DUQM SEZ 100.0% Capacity: Water: ≈ 1,250 m3/hour

Water Gas Power In operation Business Business Business Fuel type: Gas/Diesel Under construction/ Electricity Future Future DIPWP Gas turbine: SIEMENS SGT800 development Projects Projects Future Desalinated Capacity: 230,000 bbl/day EPC: Signed with consortium of 4 companies: Projects water Project cost: US$7,000m 1) Alghanim International General Trading & (as of June 2020) Contracting Co. W.L.L. 2) Cobra Instalaciones y Servicios S.A. 3) Sojitz Corporation 4) Tecnicas De Desalinizacion De Aguas Potential Projects • GULF has increased its equity stake in Oman projects in September 2020 and have restructured shareholding to directly hold 49% shares PPA: Signed with Duqm refinery for 25 years in Marafiq (+5 years renewal)

• Marafiq has exclusive rights to provide utility services in Duqm SEZ Project cost: ≈ USD 483 million for 25 years SCOD: • Phase 1 (40 MW): April 2021 • Opportunities to develop and operate future utilities projects in • Phase 2 (286 MW): 2022 Duqm SEZ with Marafiq Status: Under construction: 86.75% Completed Duqm SEZ

Note: Project progress as of Dec 2020 20 Additional Electricity Sales from GNC power plant Signed contract for additional electricity sales to industrial customers in Kabinburi Industrial Zone (KIZ)

Additional electricity sales to IUs in Kabinburi Industrial Zone 70%

Gulf MP Scope: • Invest in the construction of a 22-kilovolt transmission line • Sell additional electricity of 35 MW to industrial customers 100% in KIZ Cooperation Agreement: GNC Electricity IUs in Sahapat Kabinburi 22 years with Kabinburi Industrial Zone Ltd. (126.5 MW SPP) Industrial Park (18 MW) Contracted Approx. 35 MW IUs in KIZ (35 MW) Capacity:

COD Q4’21 – Q2’22 (to new customers for 35 MW):

Investment Cost: Approx. THB 200 million (for the transmission line only)

21 Renewable Energy Renewable Operating Projects - Gulf Chana Green Biomass Project (25 MW)

Gulf Chana Green (GCG) Gulf Chana Green Co., Ltd. Location: , Thailand 100% Installed 25.0 MW capacity:

Contracted 20.6 MW capacity:

Fuel type Parawood

Tariff EP + Ft + Bt 1.3/kWh adder for 7 years after COD SONGKHLA PPA Signed with EGAT ✓ EPC Signed with STEC ✓

In operation COD: Mar 2020

Under construction/ Project cost: Approx. THB 2,300 million development Q3/2020 EGAT dispatch factor: 97% Performance Plant availability: 93% Highlight:

23 Renewable Operating Projects - GTN1 and GTN2 (119 MW) Solar Projects in Vietnam

GTN1 GTN2

Location Tay Ninh, Vietnam Location Tay Ninh, Vietnam Installed capacity Approx. 69 MW Installed capacity Approx. 50 MW GULF (90%) GULF (90%) Shareholding Shareholding TTC Group (10%) TTC Group (10%) Fuel type Solar Fuel type Solar EPC Signed with JGC Vietnam EPC Signed with JGC Vietnam Offtaker Vietnam Electricity (EVN) Offtaker Vietnam Electricity (EVN) Tariff US9.35c./kWh Tariff US9.35c./kWh PPA Signed with EVN for 20 years PPA Signed with EVN for 20 years COD 6 Mar 2019 COD 19 Apr 2019 Project cost USD 60.0 million Project cost USD 46.7 million

• Capacity factor: approx. 18.2% • Plant availability: 99.9%

24 Renewable Wind projects in Vietnam Wind projects in Vietnam progressing as planned

Mekong Wind Installed Capacity: up to 310 MW Shareholding: 95% GULF 5% TTC Group Location: Ben Tre Province, Vietnam

Off-taker Vietnam Electricity (EVN)

Tariff US 9.8c./kWh

Fuel Type: Offshore wind

Status & SCOD: • Phase 1 (30 MW): SCOD May 2021 Overall progress 49.1% completed

• Phases 2-3 (98 MW): SCOD Oct 2021 Overall progress 5.7% completed

• Phases 4-8 (182 MW): Under MOIT consideration to be included in PDP8 within [Q1’21]

Project cost Approx. USD 618 million

Note: Project progress as of Dec 2020 25 Renewable Borkum Riffgrund 2 Offshore Wind Project in Germany (464.8 MW) Share transfer completed and Borkum Riffgrund 2 will start to contribute revenue and profit to the Company in Q4’20

Location: German North Sea ≈ 59 km northwest of Norddeich harbor ≈ 34 km north from the island of Borkum

100.0% Installed capacity: 464.8 MW Ørsted Wind Power GIH A/S 100.0% 100.0% Fuel type: Offshore Wind BKR2 Holding Ørsted HoldCo. Tariff: Year 1 – 9.5: 50.0% 50.0% FiT backed by German government Year 9.5 – 20: Borkum merchant price with guaranteed floor Riffgrund 2 price

✓ Project in operation, with revenue and profit to PPA: Signed with Ørsted for 20 years be immediately recognizable to GULF SWA (Services and Signed with MHI Vestas Offshore Wind ✓ Strategic partnership with the global market Warranty Agreement) for 10 years + 5 years extendable leader in offshore wind (Ørsted) would increase GULF’s credibility and competitiveness on a Investment Cost ≈ EUR 550 million Germany global scale In operation Project Cost: Project cost = EUR 4mn/MW

Under construction/ ✓ Long term contracted cash flows backed by development the German government COD Apr 2019

26 Infrastructure & Utilities Infrastructure Infrastructure and utilities projects in Thailand Public Private Partnership (PPP) in Thailand

Map Ta Phut Ph.3 Laem Chabang Ph.3 M6 & M81 Motorways

Consortium: 70% GULF 40% GULF 40% GULF 30% PTT Tank Terminal 30% PTT Tank Terminal 40% BTS Group 30% China Harbour Engineering 10% STEC 10% RATCH Group Investment Type: PPP PPP Net Cost PPP Gross Cost Authority: Industrial Estate Authority of Thailand (IEAT) Port Authority of Thailand (PAT) Department of Highways (DOH)

Scope: • Ph.1: Land reclamation • Design, build, O&M F1 and F2 Terminals • Ph.1: Design & construction • Ph.2: LNG terminal • 4 MTEU/year ➢ Toll collection system, traffic (up to 10.8 MTPA) management & control system • Ph.2: O&M

Construction Period: • Ph.1: 3 years (2020 – 2023) • F1: 3 years (2022 – 2024) 3 years (2020 – 2023) • Ph.2: 4 years (2023 – 2027) • F2: 3 years (2026 – 2028)

Operation Period: 30 years 35 years 30 years Investment Cost: Ph.1: THB 11.0 billion THB 30.0 billion [to be disclosed] Ph.2: THB [30.0] billion Status: • PPP contract signed in Oct 2019 • PPP contract signing expected in Q2 2021 • PPP contract signing expected in Q1 2021 • EPC contract signed in Jul 2020 • LLA & LTA signing expected in Jan 2021 • NTP1 & Construction expected to start in Apr 2021* • EPC is being concluded

*subject to IEAT issue NTP1 Note: Project progress as of Jan 2021 28 Infrastructure One Bangkok Private Partnership in Thailand

Shareholding:

Investment Type: Private partnership

Off-taker: 100% by Customers in One Bangkok Project

Construction Period/ SCOD: • 2021: EPC contract signing in Jan • 2024: DCS Ph. 2 SCOD (8,000 RT)

Nature of Business: Electricity Distribution District Chilled Water • 2022: Power SCOD • 2025: DCS Ph.3 SCOD (2,000 RT) System Distribution System • 2023: DCS Ph.1 SCOD (25,000 RT) • 2026: DCS Ph.4 SCOD – All facilities (Power) (DCS) completion Installed Capacity: 240 MW 40,000 RT Operation Period: 30 years from SCOD Connected Capacity: 123 MW 36,000 RT Project Cost: THB 3,100 million Status: EPC contract signed in Jan 2021

Note: Project progress as of Jan 2021 Gas Gas LNG Shipper Licenses

License Holder Gulf Energy Development Hin Kong Power Holding Ltd.

Import Amount 300,000 TPA 1,400,000 TPA

Usage 19 SPPs under Gulf group Hin Kong Power Project (partially)

License 10 years (extendable) 10 years (extendable)

31 Disclaimer

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Tel: +66(0) 2080 4488 Fax: +66(0) 2080 4455 Email: [email protected] Website: www.gulf.co.th