Enterex International Limited (Stock Code：1592.TW)

1Q16 IR Report

0 Agenda

Company Profile

Business Condition

Strategy and Layout

1 Company Profile

Introduction

Holding Structure

Worldwide Organizations

2 Introduction

Stock Code： F-Enterex 1592.TW

Milestone： 1996–Established in Yangzhou city, Jiangsu,

2014–Listed on October 16th in Taiwan Stock Exchange

Capital： NT$1,004,332,500 (100.4mn stocks;NT$10/per share)

Manufacture Plant： Yangzhou plant( approximately 190,000 square meter)

Cambodia plant(approximately 120,000 square meter )

Number of Employees： 1,580

Business：RD, manufacturing and sales of car radiator, heavy duty radiator and condenser

Management Team： President and General Manager – Wen-Chung, Wong

China& Cambodia Subsidiary Company GM– Toshimasa Yamane

USA Subsidiary Company General Manager– Kevin O'Connor

3 Holding Structure

Enterex International Limited (Cayman) Capital USD 31,938,210 (NTD 1,004,332,500 )

100% FRUITAGE INTERNATIONAL CO.,LTD (Belize) Capital USD 31,938,210

100% 100% 100% 99% 100% MERIT WISE INTERNATIONAL LIMITED (HK) ENTEREX AUTOMOTIVE FRUITAGE ENTEREX Capital USD 55,500,000 AMERICA PARTS INTERNATIO (CAMBODIA) LLC (USA) DISTRIBUTION NAL CO.,LTD INDUSTRY INTERNATION TAIWAN CO. LTD AL, LLC(USA) BRANCH 100% 100% 100% Capital Working USD1,966,344 Capital Capital Capital YANGZHOU YANGZHOU ENTEREX YANGZHOU ENTEREX NTD ENTEREX AUTO PARTS AUTOMOTIVE AIR- USD10,000,000 INDUSTRIAL CO., MANUFACTURING CONDITIONING 30,000,000 CO.,LTD LTD INDUSTRIAL CO., LTD Capital Capital USD9,000,000 Capital USD19,700,000 USD23,800,000

4 Worldwide Organizations

Design Center- Connecticut Manufacturing- Yangzhou Distribution Headquarter- Center- Texas Taiwan

Manufacturing - Sihanoukville

Sales flow Transaction mode Subsidiaries 5 Factory Image in Yangzhou

Area of land : 194,932.5 Square meter

6 Factory Image in Cambodia

Area of land : 120,000 Square meter

7 Selling Center in North America

Area of land: Approximately 350,000 square feet Distribution Center - Arlington, Texas 8 Business Condition

1Q16 Consolidated P&L

Sales Analysis

Top 5 Customers

9 2015 Profit & Loss

NT$,000 2014 2015 1Q15 1Q16

Account Amount % Amount % YoY % Amount % Amount % YoY %

Total 4,798,743 100.0% 5,186,008 100.0% 8.1% 1,316,321 100.0% 1,524,337 100.0% 15.8% Revenue COGS 3,347,036 69.7% 3,508,490 67.7% 4.8% 892,918 67.8% 1,009,479 66.2% 13.1% Gross Profit 1,451,707 30.3% 1,677,518 32.3% 15.6% 423,403 32.2% 514,858 33.8% 21.6% Operating 1,119,604 23.3% 1,337,132 25.8% 19.4% 335,231 25.5% 335,733 22.0% 0.1% Exp. Operating 327,706 6.8% 340,381 6.6% 3.9% 88,172 6.7% 179,125 11.8% 103.2% Profit Other revenue (75,947) -1.6% (44,102) -0.9% -41.9% (10,175) -0.8% (23,154) -1.5% 127.6% and exp. Profit 251,759 5.2% 296,279 5.7% 17.7% 77,997 5.9% 155,971 10.2% 100.0% Before Tax Tax Exp. 83,829 1.7% 104,992 2.0% 25.2% 30,083 2.3% 34,374 2.3% 14.3% Profit After 167,930 3.5% 191,287 3.7% 13.9% 47,914 3.6% 121,597 8.0% 153.8% Tax EPS (NT$) 1.83 1.91 4.4% 0.48 1.23 156.3% 10 Sales Performance by Quarters

Unit：NT$,000 sales 1Q 2Q 3Q 4Q YTD Year 2013 1,107,301 1,011,401 1,125,632 1,064,223 4,308,557 2014 1,225,609 1,346,186 1,132,767 1,094,181 4,798,743 2015 1,316,321 1,268,332 1,343,497 1,257,858 5,186,008 2016 1,524,337 1,524,337 11 Sales Contribution by Region

2014 2015 1Q15 1Q16 NT$,000 Amount % Amount % Amount % Amount % America 4,170,435 87 4,406,193 85 1,138,123 86 1,227,583 80 Europe 311,787 6 302,280 6 95,150 7 100,266 7 China 104,583 2 255,611 5 31,917 2 156,471 10 Asia(except China) 38,356 1 50,440 1 9,785 1 10,326 1 Others 173,582 4 171,484 3 41,347 3 29,691 2 Total sales 4,798,743 100 5,186,008 100 1,316,322 100 1,524,337 100 12 Sales Contribution by Product

2014 2015 1Q15 1Q16 NT$,000 Amount % Amount % Amount % Amount % Car Radiator 4,023,296 84 4,291,919 83 1,081,606 82 1,203,106 79 Heavy Duty 211,897 4 168,588 3 50,432 4 31,477 2 Radiator Condenser 330,124 7 364,065 7 95,966 7 132,906 9 Others 233,426 5 361,436 7 88,319 7 156,848 10 Total sales 4,798,743 100 5,186,008 100 1,316,322 100 1,524,337 100 13 Top 5 Customers S t a b l e C u s t o m e r Partnership 2015 % 1Q16% Name of Sales of Sales Summary Advance Auto Listing in NYSE from 2001 Parts  Top 1 auto parts chain store in NA, included Advance Auto Parts(AAP)、Auto-part International(AI)、B.W.P Distributors 32% 34% Inc.(BWP) and General Parts International(GPI))  DIY and DIFM customers oriented 5,293 stores worldwide and continue to open 65-75 stores in 2016 O’Reilly/Ozark Listing in NASDAQ from 1993 21% 16% Top 3 auto parts chain store in NA, with 4,571 stores DIY customers oriented Spectra Located in Montreal Canada  Own manufacturing plants in Canada Premium (SPI) 9% 10%  Distributor in North America(the main customer is AutoZone, the top 2 auto parts retailer 1-800 Located in California US. Chain store of cooling system 7% 7% RADIATOR Chain stores in US and Canada, with more than 1000 stores NRF Established in 1927 and the top2 channel brand in Europe  has manufacturing background and the main production and - 3% development base in Western Europe  Parent company is BANCO Holdings in India and listed in NSE 14 Main Customers Summary

5,293 stores worldwide in 2015 and continue to implement Carquest integration

 4,571 stores worldwide in 2015 and continue to expand in order to split the market share

Source: Advance Auto Parts & O’Reilly Presentation 15 Competitive Niche

TOP 1 Market Share in North America

Competitive Advantage

16 AM Car Radiator Sales in North America

Unit: Piece(thousand) 2013 2014 2015 AM Car Radiator volume in NA 7,723 7,963 8,228 Enterex Volume in NA 1,954 2,108 2,077 Market Share 25% 26% 25%

Ref：Automotive radiators-A global strategic business report 17 Competitive Advantage

• From product design to tooling's development and production, Enterex offers one stop One-Stop Production solution with cost reduction and vertical integration.

• Set up R&D team both in China and in US to R & D Team meet the requirement from customers for developing and adjusting products they need.

Completed • Build entry barrier by offering more than 2000 Production lines radiator numbers and 600 condenser numbers.

Exclusive • Set up NA distribution channel to establish long Distribution in NA -term and stable relationship with customers.

18 Strategy and Layout- Growth and Risk diversification

Develop China OE Market

Japan Experts Team Management

Cambodia Plant

European AM Market Layout

19 Strategy and Layout: China OE Market(1/3)

• Enter into small independent First brand market Stage

• Develop big independent brand Second market Stage

• Cooperate with Third brands Stage

20 Strategy and Layout: Multi brands and Multi items(2/3)

• Kubota • Jiangling Motor • Tailift Group • HOWO • Jianghuai-Yinlian • Nanjing Yuhua Heavy Duty • Dailian Huanghai • Kion Baoli Electric • Nanjing • Foton Lovol HEAVY - • Baic Motor Foton • XGMA Vehicle DUTY • CRRC Times ELEC • WORLD GROUP Cooling • DONG FENG Bus Co. • LONKING RADIATOR System • YANGTSE • KOBELCO • MEIHUA Bus • HANGCHA

• ZOOMLIAN Car Radiator

• Baic Motor • Motor • • Casonic Air-Conditioning • Joylong Motor • Dandong Huanghai Motor • JAC Motor • Motor • Brilliance Auto • GAC • Nanjing King Long 21 Strategy and Layout: Develop China OE Market (3/3)

Cooperate Items with Beijing Automotive Group Co., Ltd.

22 Strategy and Layout: Japanese Team

Japanese Professional Manufacturing team Technical and process Innovation improvement and R&D Technique level up Lower cost Higher Efficiency 23 Introduction of Japanese Experts

Shinichi Toshimasa Susumu Yamamoto Yamane Hongo

Highest level of education : Tokyo  Highest level of education :  Highest level of education: City University - Mechanical ENG. Shibaura Institute of technology Nihon University, Faculty of Experience :  Experience: Engineering, Electro- •Tokiwado factory director •Production Engineering Center – SVP Engineering. •CKF Director, GM •CPM: Interior Business Unit  Experience: •CK Productivity Center VP & GP – Business unit Leader •Tokiwado -Factory director Nishin Kogyo Co., Ltd Non-Exclusive •Calsonic Kansei North America Inc. •CKP-Managing Director Director, VP & OP factory director –Executive VP •CKP-President 24

Strategy and Layout: Cambodia Plant(1/3) Investment Summary

 Board meeting approved Cambodia investment plan on 03/27/2015  Location：Cambodia Sihanoukville Special Economy Zone  Land：120,000 square meters  Plant : 90,000 square meters  Capital：USD20,000,000  Product：Brazed radiator、 Mechanical Bonded radiator、 Condenser、Intercooler  Current Progress

25 Strategy and Layout: Cambodia Plant(2/3)

•Sihanoukville is a coastal city located in the southwest of Cambodia and very close to the Gulf of Thailand. Location •The only one port city in Cambodia and is 240 km to Phnom-Penh •An emerging industrial city

•Political and economic conditions are more stable than other countries in South East Asia. •Labor cost is much lower than that in China Advantage •Duty free to Europe and America •There is no foreign exchange control •Enjoy a period of 6 to 9 years income tax exemption

26 Strategy and Layout: Cambodia Plant(3/3) E s t i m a t e F u t u r e Consolidated C a p a c i t y

Enterex Group Capacity Other companies China Cambodia plant Total plant

Product Lines First Stage Second Stage SPI：800,000 Capacity Capacity Capacity Total Capacity pcs (pcs) (pcs) (pcs) KOYO: Brazed 3,500,000 500,000 1,000,000 4,500,000 700,000 radiator ~800,000 pcs Mechanical

Bonded 500,000 1,000,000 1,000,000 radiator TOYO： Heavy Duty 25,000 25,000 1,000,000 pcs Radiator Condenser 450,000 250,000 500,000 950,000 Cryomax： Intercooler 250,000 250,000 500,000 750,000 600,000 ~700,000 pcs Evaporator 200,000 200,000 27 Europe Market Features

Mature market but fragmented and dispersed The usage age of automobile growth Popular for small cars and radiator Radiator is size is getting mainly in smaller Mechanical type and Brazed type

28 Strategy and Layout: EU market (1/3)

Cooperate with international distributors to meet customer needs

Enter into Niche type OE market and large purchasing groups

Establish products awareness

29 Strategy and Layout: EU market (2/3)

2009-2017 Estimated Volume of AM Radiator in Europe

%CAG Country 2009 2010 2011 2012 2013 2014 2015 2016 2017 R U.S.A 6,225 6,351 6,491 6,650 6,834 7,041 7,268 7,513 7,770 2.81

Canada 793 813 835 860 889 922 960 1,002 1,047 3.53

Japan 1,870 1,906 1,950 2,001 2,059 2,123 2,192 2,266 2,345 2.87

Europe 11,429 11,705 12,035 12,423 12,870 13,372 13,927 14,532 15,187 3.62

Asia 8,701 9,148 9,641 10,189 10,803 11,498 12,288 13,176 14,166 6.28 Latin 3,753 3,949 4,172 4,423 4,704 5,015 5,358 5,733 6,140 6.35 America Others 521 541 564 591 622 656 694 735 780 5.17

Total 33,292 34,413 35,688 37,137 38,781 40,627 42,687 44,957 47,435 4.52

Source: AUTOMOTIVE RADIATORS (Global Industry Analysts, Inc.)

30 Strategy and Layout: EU market (3/3)

AM market Car Radiator % in each European Countries

Country 2003 2011 2017 Germany 24.8% 24.46% 21.15% France 15.73% 11.55% 10.78% Spain 12.65% 10.5% 9.73% United Kingdom 9.11% 7.52% 6.85% Italy 6.9% 6.06% 5.76% Russia 6.41% 5.91% 6.85% Other European 24.4% 34% 38.88% Countries Total 100% 100% 100%

Source: AUTOMOTIVE RADIATORS (Global Industry Analysts, Inc.)

31 Investment Security Statement

The information contained in this presentation, including prediction, forecast or other information of the forward-looking statements is subject to change without notice, whether as a result of new information or future events , therefore, actual results may differ materially from those expressed or implied in these forward-looking statements.

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