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9M20 Operational Update Company Presentation

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9M20 Operational Update Company Presentation 9M20 Operational Update Company Presentation 28 October 2020 Q3 Highlights Retail Gas Sales Volume Up 18.2% Dollar Margin Maintained at 0.61/m3 C/I and Residential Development Up 33.6% & 45.2% Integrated Energy Sales Volume Up 142.2% cumulatively 1 Strong Volume Growth Momentum in Q3 C/I Vol ▪ Q3 C/I vol up 21.2% → Industrial vol up 23.9%， Res Vol ▪ COVID-19 under control，reopening of schools (mil m3) commercial vol up 5.7% (mil m3) and social welfare institutions increased gas vol ▪ 9M C/I vol up 10.6% ▪ Q3 residential vol up 14.0% ▪ 9M residential vol up 9.4% 14,000 3,500 12,000 11,647 2,701 10,528 +10.6% 2,800 2,469 +9.4% 10,000 4,035 562 3,328 493 8,000 +21.2% 2,100 6,000 +14.0% 1,400 4,000 700 2,000 0 0 9M 2019 9M 2020 9M 2019 9M 2020 1H Q3 1H Q3 Vehicle Gas Wholesale ▪ Higher frequency of commute, vol decline tapered ▪ Developed customers outside concessions with low- 3 3 (mil m ) ▪ Q3 refueling vol declined 8.7% (mil m ) cost LNG resources，enhanced bargaining power ▪ 9M refueling vol declined 23.3% ▪ Q3 wholesale vol up 19.9%; 9M vol up 11.2% 7,000 1,000 892 -23.3% 5,738 6,000 +11.2% 800 5,161 299 684 5,000 2,069 -8.7% 1,726 600 4,000 +19.9% 273 3,000 400 2,000 200 1,000 0 0 9M 2019 9M 2020 9M 2019 9M 2020 1H Q3 2 1H Q3 FY20 Gas Sales Target on Track Total Gas Sales Vol FY20 Guidance： Quality Gas Sales Vol Mix Retail gas sales vol up more than 10% (mil m3) C/I gas sales vol accounted for over 77% 25,000 4.5% 9.0% 20,770 9.8% 18.0% 20,000 19,050 5,738 6.4% 17.8% 5,161 11.9% 15,000 8.2% Residential 15,032 Industrial 13,889 Commercial Vehicle Gas Refuelling 10,000 9M 2019 63.9% 9M 2020 5,000 67.7% 0 9M 2019 9M 2020 Retail Gas Sales Wholesale 3 Intact Dollar Margin Gas Procurement： ASP/Cost 9M 2020 9M 2019 1H 2020 ▪ Imported 1.62mil tonnes of LNG (RMB/m3) ▪ Average import cost (all-in) lower than Residential 2.84 2.79 2.83 citygate price by 15-20% ▪ Commenced direct gas supply from C/I 2.73 3.16 2.77 Zhoushan terminal to ENN Huzhou gas Vehicle Gas Refuelling 3.40 4.02 3.51 project through Zhejiang provincial pipeline, realized pipeline liberalization, ASP 2.78 3.15 2.81 reduced gas cost Average Cost 2.11 2.51 2.14 Retail gas sales： ▪ Stimulated vol growth and expanded Dollar Margin (ex. VAT) 0.61 0.59 0.61 customer base leveraging low-cost gas purchase while maintaining reasonable dollar margin 4 New Users Development Accelerated, FY20 Target on Track New C/I Installed Designed Daily Capacity New Residential Household 3 FY20 Guidance：2.3mil households （’000 m /day） FY20 Guidance：18mil m3 （’000 household） 2,000.0 14,000 1,690 12,240 1,610 12,000 11,370 1,500.0 403 10,000 3,600 585 +33.6% 4,810 +45.2% 8,000 1,000.0 6,000 4,000 500.0 2,000 0.0 0 9M 2019 9M 2020 9M 2019 9M 2020 1H Q3 1H Q3 New C/I Customers Breakdown New Residential Customers Breakdown 9M 2020 55% 32% 13% 9M 2020 71% 10% 19% 2019 58% 32% 10% 2019 67% 12% 21% 2018 55% 36% 9% 2018 70% 10% 20% 2017 54% 36% 10% 2017 72% 12% 16% 2016 52% 40% 8% 2016 83% 17% 2015 51% 39% 10% 2015 84% 16% New C/I Site Coal-to-gas LPG & Other Fuels 5 New Building Existing Building Rural Users Provide customers with Low-carbon Integrated Energy Solutions Integrated Energy Sales Vol （mil kWh） 9,000 8,725 9% 13% +142.2% IE Projects (Operational & Under Construction) 6,000 141 3,602 28% 6% 78% 10% Incorporated 3,000 Renewables 84% 70% Natural Gas 0 9M 2019 9M 2020 Steam Heating & Cooling Electricity 6 Upholding the Principle of Sustainable Development to Drive Growth Successfully issued US$750mil 2030 due 2.625% coupon Enhanced ESG performance and disclosure offshore Green Bond According to ”ENN Green Finance Framework”, proceeds will be used in the financing of green projects, incl. renewables, energy From BB to BBB efficiency, pollution control Green Certification Institutions Sovereign Funds & Retirement Diversified Investors Funds, 13% Private Banks & Other Europe & Middle Investors, 6% East, 26% Asset Managers, US, 56% Asia, 30% Insurance, 44% 26% Motivated project companies to obtain international Helped the society & customers save energy and reduced certifications, launched series of ESG training, aimed at carbon emission incorporating ESG into our daily operations Performance of Energy Saving and Emission Reduction in 9M 20 • One more project company certified with Coal replacement mil tce 26.71 ISO9001 Gas Sales Gasoline replacement mil tons 0.62 • Expect 10 project companies obtain Business international certifications CO2 emission reduction mil tons 26.41 • Plan to start ISO14064 certification works “Coal-to-Gas” Coal replacement ktce/day 4.84 Business for C/I ESG Training： users CO2 emission reduction kt/day 4.72 • Completed 90 days internal ESG training • Will launch anti-corruption training, and Integrated Energy saving mil tce 1.18 promote ”ENN Integrity & Compliance Energy Guidelines” 7Business CO2 emission reduction mil tons 3.50 Outlook Industrial production recovering, export continues to grow 15 ➢ GDP declined by 6.8% in Q1 rebounded to 3.2% growth in Q2，Q3 continued to improve to 4.9% growth, Q4 10 GDP growth is expected to return to pre-pandemic 5 Macroeconomic level 0 Sep Recovery Jan1-2-Feb月 3月Mar 4Apr月 5May月 6月Jun 7Jul月 Aug8月 9月 ➢ Sept export rose 9.9% yoy -5 ➢ China Industrial production activities accelerated, Q3 -10 increased 5.8% yoy -15 工业增加值同比增长Industrial production(%) 出口总值同比增长Export yoy growth(%)（%） yoy growth（%） ➢ 2020 is the critical year to “Winning the Battle for Blue China natural gas penetration is lower than world’s average Sky”policy, local governments will continue to enhance environmental protection efforts to achieve the scheduled 53.7% 40.0% milestone 36.2% 32.2% 30.5% 30.2% 24.3% Supportive 20.8% World’s Average：24.2% ➢ Energy transition in China will continue to push natural gas 17.7% 15.0% 9-10% Industry as one of the most important clean energy, to achieve peak 9.0% 7.8% Policies carbon emission by 2030 and decline thereafter ➢ China“Energy Production & Consumption Revolution Strategy”set target to raise gas penetration to 15% in 2030 Diversified ➢ PipeChina is operational, allowing enterprises to book Gas gas transmission pipelines, storage and LNG receiving Sources capacity 8 Summary Revised up FY20 core profit growth guidance to at least 18% Strong core businesses growth, FY20 free cash flow expected to reach FY19’s level Robust balance sheet, rising dividend payout Green financing to enhance ESG performance Proactively explore hydrogen, renewables utilization， provide zero-carbon energy solutions 9 Q&A Explore the Application of Zero-carbon Energy – Distributed Solar Case Study –Yangkou Distributed Solar Station in Shandong Shouguang Government’s front：“14 ‧ 5 Year Plan” is Summary expected to continue to drive the use of clean ▪ Installed capacity：11.33MW energy, and to implement renewable power ▪ Utilized customer’s rooftop of 146,000 m2 generation quotas and license waiver policies ▪ Investment amount：RMB70.98mil ▪ Operation：Grid connection & all-on-grid Customer’s needs：Pressure to digest ▪ Generation Capacity：16mil kWh in 2019 renewable-generated power, demand for cost ▪ Tariff Subsidy：RMB0.98/kWh reduction and efficiency enhancement ▪ Return：IRR 12% Competitive Edge： ▪ ENN Energy possesses tremendous C/I customers resources （>3GW rooftop resources） ▪ Gas concession areas, IE projects, and incremental power distribution networks will create synergy, able to reduce operating costs & mitigate receivables issues 11 Explore the Application of Zero-carbon Energy – Hydrogen Government’s front：China pledged to reach peak level Hydrogen Supply Project – A Pharmaceutical of carbon emission by 2030, and carbon neutral by 2060 Company in Liaoning Huludao Characteristics of H High heat value, zero emission, 2： Summary burns fast 3 ▪ H2 production capacity：1,500m /h ▪ er’s 3 Competitive Edge： Custom need：12.48mil m /year ▪ Use of existing pipelines, factories and land for free, ▪ H2 can be blended into natural gas pipelines at specific reduced investment cost, revitalized customer’s assets concentration (10% or below according to international ▪ Investment amount：RMB17.39mil ▪ Expected return：IRR 20% practice) and pressure, can be supplied to commercial ▪ Status：Under construction, expected commencement in and residential users as fuel, reduce carbon emission March 2021 ▪ ENN’s technological know-hows of operating CNG & Natural Gas to Hydrogen： LNG transportation & storage provide support to 1. Compressed and gasified feedstock develop compressed H2 or liquified H2 business gas ▪ Possesses resources and technology of natural gas to 2. Desulphurization hydrogen production 3. Conversion 4. PSA H2 extraction Founding member of “Yangtze River Delta Hydrogen Infrastructure Industry Alliance”, aims at exploring the development of hydrogen refuelling infrastructure following the policy of “Yangtze River Delta G60 Hydrogen Corridor” 12 Disclaimer The information provided to you in this presentation does not constitute or form part of any offer for subscription or sale of, or solicitation of any offer to subscribe for or sale of any securities of ENN Energy Holdings Limited (the "Company") nor shall it form the basis of, nor can it be relied on in connection with, any contract or commitment whatsoever.
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