LNG Receiving Terminal Regas EPC Project

CTCI Corporation The 3rd Investor Conference, 2020

29 September 2020

1 Disclaimer

 The consolidated financial statement is hereby based on International Financial Reporting Standards (IFRS) and audited by CPA.

 This presentation may include forward-looking statements with respect to the operations and business of the company other than the historical results. The actual results may differ from those indicated forward-looking statements due to unknown risks and uncertainties. Investors should make their own judgement and control the investment risk.

3 Operation Review

4 Company Honors

 Listed in DJSI Emerging  FTSE TWSE Taiwan Dividend+ Index  Listed in MSCI Index Markets Index for  FTSE TWSE Taiwan Mid-Cap 100  MSCI ESG Rating A consecutive 5 years Index  Ranked No.3 in Engineering  Taiwan High Compensation 100 Index & Construction Industry Globally  FTSE TWSE Taiwan Eight Industries Index  Taiwan RAFI® Employment Creation 99 Index

 Listed among ENR top 100  Top 5% of the 6th annual  Remains Top Contractor in international engineering "Corporate Governance CommonWealth Magazine's Top companies for consecutive 5 years Evaluation by TWSE 2,000 Enterprises Survey  Ranked 86th and 75th for  Top 5% among top 650 Enterprises international design firms and in Service Sector international contractor respectively

Up until 25 September 2020, the new contract amount and backlog have hit a record high.

Unit: NT$, billion New Contract Backlog 127.3

286

101.7

85.6 203.2 208 195 166.3

44.4 46.3

2016 2017 2018 2019 25 Sep 2016 2017 2018 2019 25 Sep 2020 2020

Gas 28% New New Contract

Environmental 16%

China 2% Southeast Asia 1% Transportation 5% USA 1% Hydrocarbon 2% General Industry 2% Taiwan 96% Others 1% Power 46%

Hydrocarbon

Power 25% 17% Backlog

Southeast Asia 9% Gas 11%

China 5% General Industry India 2% 6% USA 1% Transportation Middle East 1% Taiwan 82% Environmental 6% 31% Others 4%

New Contract Amount: NT$127.3 billion (up until 25 Sep. 2020)

Build a clean and low-carbon society 86%

綠色工程Green energy and low carbon projects amounted NT$109 billion.

Southern Taiwan Science Park Wastewater Reclamation Unit DBOO Project

Guanyin (WPD) Offshore Wind Farm Transition Piece Fabrication Project

Hsinta and Taichung Combined Cycle Project

CPC Third LNG Receiving Terminal Regas EPC Project

TPC Taichung LNG Receiving Terminal Regas EPC Project

Changhua Coastal Park Sludge Incineration Plant BOT Project

25 Sep. 2020 2015

Green Energy and Green Energy and Low Carbon Projects Growth in Backlog: 178% 23% Low Carbon Projects 64%

Wastewater Treatment LNG Receiving and Reclamation Incineration Plant Terminal

Air Quality Offshore Wind Farm/ Gas Fired Power Plant Control System Solar Power Plant

 Offshore Wind Farms  Air Quality Control System (AQCS) • Chang Fang Xi Dao Offshore Wind Farm Pin Pile Supply for CIP/ Taiwan Yunlin Offshore Wind Farm Transition Pieces for WPD/ Taiwan • Ho-Ping Power AQCS Upgrade Project, Taiwan • Greater Changhua Offshore Wind Farm Transition Piece Fabrication for • Taichung Power Plant Unit 1 to 4 AQCS Retrofit Orsted/ Taiwan Project, Taiwan • Zhong Neng Offshore Wind Farm Pin Pile Supply for CIP and CSC/ Taiwan  Waste Water Treatment and • Guanyin Offshore Wind Farm Transition Piece Reclamation Fabrication for WPD/ Taiwan • Taoyuan Chung Li Sewerage System BOT Project / Taiwan  Solar Power Plants • Kaohsiung Feng Shan Shi Wastewater 82 solar power plants with 90.3MW/ Taiwan, USA Reclamation BTO Project / Taiwan • Kaohsiung Linhai Wastewater  Incinerators Reclamation BTO Project/ Taiwan • 2 incinerators O&M / Macau • Southern Taiwan Science Park • 2 incinerators BOT+5 incinerators Wastewater Reclamation DBOO O&M / Taiwan Project/ Taiwan • Taoyuan Biomass Energy Center BOT / Taiwan • Changhua Coastal Park Sludge Incineration Plant BOT Project / Taiwan  Gas-fired Power Plants • Combined Cycle Project/ Malaysia • Taichung and Hsinta Combined Cycle Project/ Taiwan

 LNG Receiving Terminal • PTTLNG LNG Receiving Terminal / Thailand • Adani LNG Receiving Terminal /India • CPC 3rd LNG Receiving Terminal / Taiwan • Taipower Taichung LNG Receiving Terminal / Taiwan

11 CTCI PowerPoint Master Deck Government Energy Transformation Policy

 Government Energy Transformation Policy:

Emission Gas Green Nuclear Reduction Increase Energy Free

 The Structure of Electricity Generation: Renewable Coal-fired Gas-fired Nuclear Others energy 2018 35% 46% 6% 10% 3% 2025 27% 50% 20% 0% 3%

Petrochemical Companies

Technology Companies Petrochemical Companies

Technology Companies

• Post-COVID 19 World and the Deglobalization of the Trump Administration: The new investments of Taiwanese technology companies (e.g., electronics, semiconductor companies) tend to be regionalized. • Cheap Shell Gas in the USA: This attracts international oil companies (e.g., Taiwanese petrochemical companies) to invest in new capacity in the USA. • New Southbound Policy: Taiwanese technology companies and petrochemical companies (e.g., Indonesia, India and Vietnam) invest in new capacity abroad. • New Capacity Investment in End-User Market: Taiwanese petrochemical companies continuously invest in new capacity in China. Copyright © 2016 CTCI All Rights Reserved. Business Outlook – Taiwan

Gas-fired Power Plant

Taiwan Power Company budgeted NT$ 160 billion for 4 more power plants with total capacity of 10,000MW in the future.

LNG Receiving Terminal

CPC Corporation budgeted NT$ 130 billion for 18 storage tanks and gas related facilities.

Incineration

NT$79 billion was budgeted for 5 incineration projects to dispose 4,800 tons/day of waste in the future.

Southern Taiwan Science Park solid waste treatment expansion plan.

Offshore Wind Farm

Next wave of bidding opportunities - Zonal Development with total power generation of 5,000 MW.

Water Treatment

Government planned to build 7 wastewater reclamation plants, along with Tainan seawater desalination plant, an expected capacity of 480,000 CMD will be generated.

Wastewater treatment and reclamation plant for hi-tech industry

Transportation

Taiwanese government continuously pushes rail projects, and will launch 12 MRT and light rail projects in the coming 5 years.

Oil Tank Farm

CPC Corporation budgeted over NT$30 billion for 69 storage tanks with total capacity of 300,000 M3 in the next 5 years.

Data Center •Hi-Tech Facilities

Google, Amazon and Microsoft continuously build data centers in Taiwan.

Hi-tech plants for semiconductor industry.

Petrochemical investments by Taiwanese companies Hi-tech investments by Taiwanese companies Petrochemical investments by American companies

LNG Receiving Gas-Fired Non-ferrous Terminal Power Plant Smelting USA Energy from Mass Rapid •Hi-Tech Waste Transportation Facilities

LNG Receiving Terminal projects in India IPP power plant projects in Malaysia Non-ferrous smelting projects in Indonesia Energy from Waste projects in the Philippines Metropolitan MRT projects in Thailand Hi-tech investments by Taiwanese companies in

Petrochemical Middle East

ExxonMobil: Guangdong Petrochemical Complex BASF: Guangdong Petrochemical Complex Shell/CNOOC: Guangdong Petrochemical Complex SABIC/FHCPEC: Fujian Petrochemical Complex Chimei Corporation: Petrochemical Project Grand Pacific Petrochemical Corporation: Petrochemical Project

China LNG Export Facility Petrochemical

Qatargas North Field Expansion project in Qatar Petrochemical project in Qatar Petrochemical project in Oman Petrochemical project in Kuwait

Potential Bidding Project Amount : NT$271.4 billion

By Region By Business Sector

Middle East 29% Hydrocarbon 17% Environmental 23%

Power 11% Southeast Asia 19% Transportation 10% China 5% Taiwan General Industry 43% USA 2% Gas 31% 4% Others 2% Others 4%

21 Consolidated Revenue and Breakdown Southeast Asia Unit: NT$, billion 20%

China 19% 70.5 71.6

64.1

58.2 USA 8%

India 5% Taiwan 44% Middle East 4%

33.7 Environmental Power 13% 17%

Gas 12%

General Industry 12%

Hydrocarbon Transportation 2% 2016 2017 2018 2019 2020 Aug. 41% Others 3%

Sales Revenues 24,705,860 100% 27,093,923 100% -8.8%

Operating costs (22,819,348) -92.4% (25,261,270) -93.2% -9.7%

Gross Profit 1,886,512 7.6% 1,832,653 6.8% 2.9%

Operating expenses (849,985) -3.4% (860,540) -3.2% -1.2%

Operating income 1,036,527 4.2% 972,113 3.6% 6.6% Total non-operating income (175,577) -0.7% 11,378 0.0% -1643.1% and expenses Profit before income tax 860,950 3.5% 983,491 3.6% -12.5%

Income tax expense (299,423) -1.2% (239,121) -0.9% 25.2%

Profit for the period 561,527 2.3% 744,370 2.7% -24.6% Profit attributable to Owners 310,472 1.3% 493,537 1.8% -37.1% of the parent Total basic earnings per share 0.41 0.65

Unit: NT$, Thousand

2020/06/30 2019/06/30

Current assets* 48,402,472 69% 48,127,890 70%

Non-current assets 21,414,058 31% 20,355,456 30%

Total assets 69,816,530 100% 68,483,346 100%

Current liabilities 35,132,283 50% 43,114,474 63%

Non-current liabilities 16,758,130 24% 6,105,278 9%

Total Liabilities 51,890,413 74% 49,219,752 72% Equity attributable to owners of 15,220,252 22% 16,357,527 24% the parent Non-controlling interest 2,705,865 4% 2,906,067 4%

Total equity 17,926,117 26% 19,263,594 28%

Total liabilities and equity 69,816,530 100% 68,483,346 100% *Cash and cash equivalents: NT$12.5billion

EPS Cash DPS Cash Dividend Payout Ratio(%) 130% 6.00 TWD 120%

5.00 94% 100% 90% 89% 89% 89% 86% 85% 88% 4.00 83% 3.68 80% 3.22 3.32 3.23 2.91 2.84 2.92 3.00 2.76 2.69 2.60 60% 2.42 2.51 2.40 2.40 2.22 2.23 2.26 1.99 2.00 2.00 1.54 40%

1.00 20%

0.00 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

 The unappropriated retained earnings is fully distributed after deducting 10% legal reserve.