Private & Confidential

P.C.S. Machine Group Holding PLC. (“PCSGH”) Roadshow Presentation

December 2013

Monday, February 10, 14 Private & Confidential

• Company Overview

• Key Investment Highlights

• Financial Highlights

• Ofering Summary & Timeline

2 Monday, February 10, 14 Private & Confidential

Company Overview

3 Monday, February 10, 14 Private & Confidential Major Development

Technology 2013

• P.C.S. Machine Group 2009 Holding PCL Diversification & (“PCSGH”) was • PCW began the incorporated with initial paid-up capital 2008 production lines of common rail parts of THB 6 mm in the form of limited • PCW emphasized the that are in compliance with Euro company on 10 April OEM Supplier 2004 manufacture of Balance Mass Module 6 emission standards • PCSGH was • P.C.S. Die Casting and Engine Front • PCF began producing converted into public 2003 Co., Ltd. (“PCD”) was Cover Module in micro alloy to be company on 24 June incorporated with compliance with Euro used as common rail • PCSGH entered into a 5 emission standards • P.C.S. Forging Co., initial registered parts that are in share swap to be enforced in Ltd. (“PCF”) was capital of THB 200 accordance with Euro transaction with 2002 2015 incorporated with mm on 6 January 6 emission standards existing shareholders of PCW, PCD and • P.C.S. Precision initial registered • PCW began involving PCF, after which Works Co., Ltd. capital of THB 200 robot technology in PCSGH became a (“PCW”) was mm on 21 August production major shareholder of incorporated with management PCW, PCD, and PCF initial registered holding 100% in the capital of 3 entities THB 20 mm on 30 May, having accumulated auto parts experience since 1990s • PCW commenced production lines of

4 Monday, February 10, 14 Private & Confidential Group Structure and Shareholding Structure

PCSGH’s Group Structure and Products

P.C.S. Machine Group Holding PCL (“PCSGH”)

100% 100% 100% P.C.S. Precision Works Co., P.C.S. Die Casting Co., Ltd. P.C.S. Forging Co., Ltd. Ltd. (“PCW”) (“PCD”) (“PCF”)

Precision Engineering Aluminum Components Steel Forging Components • High Pressure Die-Casting • Hydraulic Press • Precision Machining • Vacuum Casting • Heat Treatment • Heat Treatment • Aluminum Parts Machining • Assembly

Shareholding Structure of PCSGH: Pre – IPO Shareholding Structure of PCSGH: Post – IPO

Ms. Wanna Raomanachai, 50.00% Ms. Wanna Raomanachai, 37.41%

Mr. Siripong Rungrojkittiyot, Mr. Siripong Rungrojkittiyot, 50.00% 37.41%

Public, 25.18%

No. of shares: 1,156,000,000 shares No. of shares: 1,545,000,000 shares Paid-up Capital: THB 1,156,000,000 Paid-up Capital: THB 1,545,000,000

5 Monday, February 10, 14 Private & Confidential Business overview of PCSGH

PCF PCW PCD

Primary material Steel Bar Steel Bar Aluminium

Cast Iron Aluminium Die Secondary material Steel Forging Steel Forging (From outside) Casting

Machining process Machining Process Machining Sell to PCW for Machining process Sell to PCW to assemble Automobile parts model Assembly process Assembly Process Sell to clients

Finishing Deliver product to clients

6 Monday, February 10, 14 Private & Confidential Board of Director

Chairman of the Board, Independent Director, Vice Chairman Audit Committee Member Mr. Chakramon Mr. Siripong Rungrojkitiyos Phasukavanich • Well-respected executive with extensive • Founder of the Company with over 40 years experience in Economics and Industrial sector experience in Automotive business especially automotive • Very respectful in the • Has been in various prominent positions such as • Key leader driving the success of PCS Group Permanent Secretary of Ministry of Industry, Secretary General of Board of Investment, Director of Thailand Automotive Institute

Director Director Director Director Director

Mr. Prasong Mr. Koonchorn Ms. Wanna Raomanachai Adulratananukul Mr. Angkrit Rungrojkitiyos Raomanachai Mr. Ponake Rungrojkitiyos

Independent Director & Independent Director & Chairman of Audit Audit Committee Member Committee

Mr. Pramote Techasupatkul Mr. Veerachai Chaochankij 7 Monday, February 10, 14 Private & Confidential Key Management

Chief Executive Ofcer

Mr. Prasong Adulratananukul

• 13 years with Siam Kubota Corporation • 5 years as Tractor Manufacturing Division Manager at Siam Kubota

Chief Financial Ofcer / Head of Corporate Administration Chief Operation Ofcer / Head of Engineering Department Development Department Mr. Nattawat Mr. Koonchorn Raomanachai Asadornmingmitr • 23 years with Siam Kubota corporation • 25 years with PCS Group • 6 years as Human Resource & • 6 years as head of Engineering Administration Manager at Siam Kubota, Development Department for PCW Corporate Head Quarter

8 Monday, February 10, 14 Private & Confidential

Key Investment Highlights

9 Monday, February 10, 14 Private & Confidential Key Investment Highlights

1 • PCSGH is engaged in the manufacturing of highly value added components of engine, Focused value chain and transmission and final drive which require high precision technology and know-how resilience to model upgrades • Engine, transmission and final drive are the “Heart” of the and these parts can be flexibly applied across a variety of models and platforms throughout or even beyond entire product life

2 • PCSGH is well-positioned to spearhead the industry amidst trends of higher performance, lower Champion of industry with fuel consumption and lower emission vehicles, as its products are largely for diesel application in-house know-how and and are already Euro 6 compliant and ready for upgrading to support future technology technology development • PCSGH’s high quality and precision enable it to compete directly with OEM’s in-house or OEM’s

3 Strong diversified customer • PCSGH has established good relationships with most automobile producers present in Thailand, such as GM Group, Motors, Motors, Auto Alliance (Thailand) base with high growth • The auto business in Thailand has expanded rapidly with CAGR of 16.2% during the past 10 potential years and company already secured many new products for new models

4 Best-in-class performance • PCSGH has recorded strong revenue growth of 13.8% and 66.8% in 2011 and 2012, respectively with consistently high • Gross margin of 35.17% in 2012 and net profit margin of 32.15% in 2012 are very high by margins industry standards

5 • Automotive & automotive parts sector is identified as a strategic sector for Thai manufacturing Strong government support industry and BOI benefits • Company receives BOI privileges on per project levels

6 Well-established company • PCSGH has been in auto business for more than 50 years and highly-experienced • Management team is highly experienced in auto industry management

10 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

1 Focused value chain and resilience to model upgrades

Products Category of PCSGH

Powertrain systems Engine

• Combust fuel and generate energy for the entire system • Company products : such as camshaft, commonrail, balance shaft, engine cover, engine oil pan

Transmission

• Collect power from the engine and transmit it to final drive • Company products : such as transmission gears, transmission shaft, transmission coupling • Group of components that generate power and deliver it to the drive wheels and make vehicle moves • Consist of Engine, Transmission, drive shaft and Final drive (Diferential), representing the “heart” of a vehicle. These parts can be flexibly applied Final Drive (Diferential) across models • One of the most important parts of automobiles. Once Company is • Vehicle steering function awarded a project, Company secures orders for the next few years as OEMs do not normally change supplies after a project is awarded • Company products : such as • Company is at the forefront of production technology to produce parts knuckle, ABS rotor, break caliper, for vehicles with higher quality and reliability, higher performance, more wheel spindle fuel efcient, less polluting, and longer product life expectancy.

11 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

2 Champion of industry with in-house know-how and technology

• PCSGH continuously developed production technology to support future technology requirement, especially in Hot Forging and Die Casting technology, to produce light weight vehicles • New emission standard (Euro 5 and Euro 6) have been introduced for and light commercial vehicles with respect to a number of pollutants, especially nitrogen oxides and particulate pollutants • With anticipation of the new development in auto industry, PCW, in 2008, emphasized the manufacture of Balance Mass Module and Engine Front Cover Module in compliance with Euro 5 emission standards to be enforced in 2015 • In 2009, PCW began the production lines of common rail parts that are in compliance with Euro 6 emission standards. In addition, PCF also began producing micro alloy to be used as common rail parts that are in accordance with Euro 6 emission standards Readiness to comply with European Emission Standards for Diesel Commercial Vehicles

EURO 2 EURO 4 EURO 6 EURO 5 will start in Thailand in 1998 2006 2015 2015

1994 2001 2010 EURO 4 stated EURO 1 EURO 3 EURO 5 in Thailand in 2013

12 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

2 Champion of industry with in-house know-how and technology (cont’d)

Readiness to produce highly complicated automotive parts

• As future vehicles will have progressively higher performance and capability, the quality of automotive parts must achieve greater standard and these tend to involve higher degree of complexity and precision • PCSGH continuously developed its workforce to ensure their compatible know-how and skills. In addition, the Company also developed production technology to increase production quality to meet the up-coming requirements Examples of module parts

Readiness to product larger but lighter automotive parts

• As future vehicles will have higher performance with less weight, auto parts will need to be large but fewer in number. Therefore, PCSGH focuses on investment in large production machines, which can produce larger automotive parts to meet up-coming demand, i.e. 6,000-ton forging machine, 2,500-ton high pressured die-casting machine, etc. • Since not many automotive manufacturers have these kinds of machines, the Company has competitive 6000 Tons Forging M/C 2500 Tons HPDC M/C advantage over its competitors

13 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

3 Strong diversified customer base with high growth potential

PCSGH’s Customers Automotive Production in Thailand

Production of automotive decreased by 2,454 • PCSGH has established good 11.4% from 2010 to 2011 due to the relationships with most automobile efect of flood producers present in Thailand, such as GM Group, Isuzu Motors, 1,645 CAGR 2000-2012 = 16.0%1,394 1,458 Toyota Motors, Auto Alliance 1,287 (Thailand) 1,125 1,188 928 999 • PCSGH customer can be divided 751

into three groups (Thousand) Cars 585 412 459 − OEM or automaker − OEM Supplier Tier 1 − Non-Automotive customers

Source: Master Plan for Automotive Industry 2012 – 2016, Thailand Automotive Institute Industry Overview Thailand’s Export of Automotive Parts Export of engine parts • Thailand automotive industry is the largest in Southeast Asia and the increased 23.4% from 2010 to 2011 9th largest in the world • The auto business in Thailand has expanded rapidly with CAGR of 16.2% during the past 12 years • In 2012, Thailand has produced 2.5 million cars (Commercial cars CAGR 2000-2012 = 22.2%

approx. 1.5 million, Passenger cars approx. 1 million) THB mm • According to Thailand Automotive Institute, it is expected that Thailand will be able to produce 3 million cars in 2015 • Additionally, Thailand’s export of automotive parts also expanded rapidly with CAGR of 22.2% from 2000 to 2012

Source: Thailand Automotive Institute 14 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

3 Strong diversified customer base with high growth potential (cont’d)

Growth Potential

Plans Customers Production per Investment Cost Implementatio Year n Year New OEM Supplier Tier 1 in • Invest in Diferential Case manufacturing 300,000 pieces ~THB 400 mm Late 2014 Thailand

• Invest in Camshaft Cover manufacturing OEM Supplier Tier 1 in Europe 300,000 pieces ~THB 300 mm Late 2014

• Invest in Camshaft Assembly manufacturing Existing OEM Supplier Tier 1 300,000 pieces ~THB 300 mm 2015

• Invest in Balance Shaft Driver Module Existing automaker customer 120,000 pieces ~THB 200 mm 2015 manufacturing

• Invest in Common Rail Euro 6 manufacturing OEM Supplier Tier 1 in Thailand 100,000 pieces ~THB 100 mm 2016

• Increase production capacity of Gear and increase OEM Supplier Tier 1 in Thailand 1,440,000 pieces ~THB 600 mm 2014 the precision EURO 5 product quality

In addition to capturing growth opportunities in Thailand, PCSGH’s growth potential will also come from the vast export and re-export market, as well as inorganic growth opportunities.

15 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

4 Best-in-class performance with consistently high margins

Sales & Sales Growth Superior Margins

CAGR = 37.8%

Avg. Gross Profit % Margin = 15.0% THB mm Avg. Net Profit Margin = 8.7%

• PCSGH has recorded strong revenue growth of 13.8% and 66.8% in 2011 and 2012, respectively, with CAGR of 37.8% from 2010 - 2012 • Gross margin of 35.2% in 2012 and net profit margin of 32.2% in 2012 are very high by industry standards/1 due to the company’s ability to control costs • In 9M 2013, gross margin slightly dropped to 31.8% largely due to an increase in depreciation of new investment for new projects which had already been undertaken • The example of PCSGH’s advanced production technology is the automated (robot) production, which not only helps PCSGH Note: reduceComparable production peers include Thai cost Stanley but Electric also PCL, increase Somboon eAdvancefciency Technology and ePCLfectiveness, AAPICO Hitech ofPCL ,the and Thaiwhole Rung production Union Car PCL process

16 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

5 Strong government support and BOI benefits

• Automotive & automotive parts sector is identified as a strategic sector for Thai manufacturing industry • Company receives BOI privileges on per project levels

BOI benefits

• Projects in high-tech vehicle parts and components manufacturing are considered priority activities by the Thailand Board of Investment (BOI), which means they are exempt from machinery import duties and corporate income tax for 8 years, regardless of location • Six automotive activities (automatic transmissions, CVTs, traction motors for automobiles, electronic stability controls or ESCs, regenerative breaking systems, and rubber tires for vehicles), are eligible for the BOI’s special incentives promoting sustainable development • The incentives for these activities include − a five-year 50% reduction of corporate income tax on net profit following the expiration of the corporate income tax holiday, − a 10-year double deduction of transportation, electricity and water supply costs, deduction from net profit of 25% of investment in infrastructure installation and construction costs, in addition to Source: BOI Thailand normal capital depreciation. 17 Monday, February 10, 14 Private & Confidential Key Investment Highlights (Cont’d)

6 Well-established company and highly-experienced management

• PCSGH has been in auto business for more than 10 years since the establishment of P.C.S. Precision Works Co., Ltd. in May 2002

Mr. Prasong Adulratananukul

Mr. Nattawat Asadornmingmitr Chief Executive Ofcer Mr. Koonchorn Raomanachai Chief Financial Ofcer / Head of Chief Operation Ofcer / Head of Corporate Administration Department Engineering Development Department

13 years with Siam Kubota Corporation

5 years as Tractor Manufacturing 23 years with Siam Kubota corporation 25 years with PCS Group Division Manager at Siam Kubota 6 years as Human Resource & 6 years as head of Engineering Superior knowledge in Automobile Administration Manager at Siam Kubota, Development Department for PCW mechanism and well-acquainted with Corporate Head Quarter ISO/TS16949 Highly experienced company Prominent knowledge in the operation management; Expert in designing and of Automobile parts manufacturing developing exclusive engineering company and well-acquainted with ISO/ products TS16949 18 Monday, February 10, 14 Private & Confidential

Financial Highlights

19 Monday, February 10, 14 Private & Confidential Financial Highlights

2012 Sales Breakdown

Customer Type Customer location

Customer type Amount Customer Amount (THB Domesticlocation (THB4,564.9 mm) OEM 4,503.4mm) Abroad 728.8 OEM Supplier Tier 482.5 1 non-Auto 307.8 Total 5,293.7

Total 5,293.7

Revenue Breakdown  PCSGH customer can be divided into three groups; OEM or automaker, OEM Supplier Tier 1, and non- Automotive customers. Customer type Amount  Customers include the 7 automakers (out of 12 in Thailand) which are (THB PCSGH customers, namely, General Motors, Isuzu Motors, Mitsubishi mm) Motors, Toyota Motors, Ford Motors, Mazda Motors (Auto Alliance), and Forging 677.9 Motors. Die Casting 1,367.0  86.2% of PCSGH sales are domestic and 13.8% of sales are export most of which are Brazil, Argentina, South Africa, and Japan Precision Works 4,258.7  PCSGH revenues are mainly from precision works (67.6%) followed by Total* 6,303.6 die casting (21.7%) and forging (10.8%) . * Total sales before elimination of inter-company transactions

20 Monday, February 10, 14 Private & Confidential Financial Highlights (Cont’d)

Sales & Sales Growth Gross Profit & Gross Margin (%)

CAGR = 37.8% THB mm THB mm

Net Profit & Net Profit Margin  PCSGH sales (core business) grew significantly, representing CAGR at 37.8%. The high jump in 2012 was due to domestic economic recovery from flood crisis in 2011 and government’s first car policy  PCSGH gross profit also grew significantly in the same pattern as the growth in sales  PCSGH gross margin rose steadily over 2010-2011 (from 28.4% to 28.8%) and jumped to 35.2% in 2012 thanks to the economy of scale of steel forging and aluminum die-casting production. In 9M 2013, gross

THB mm margin slightly dropped to 31.8% largely due to an increase in depreciation of new investment for new projects which had already been undertaken  PCSGH net profit rose nearly triple from 2010 to 2012 due to significant increase in the Company’s sales  PCSGH net profit margin rose in a similar pattern to gross margin: 24.2%, 24.8%, 32.2%, and in 9M2013, net margin slightly dropped to 28.6% 21 Monday, February 10, 14 Private & Confidential Financial Highlights (Cont’d)

Financial Position ROE & ROA THB mm

D/E Ratio  PCSGH assets grew from THB 4,125 mm in 2010 to reach THB 5,940 mm in 2012, and went up further to THB 5,723 mm in 9M 2013. Total liability increased from THB 1,032 mm in 2010 to THB 4,259 mm in 9M 2013 due to large dividend declaration. As a result, total equity dropped from THB 3,093 mm to THB 1,464 mm  PCSGH ROA kept rising from 16.4% in 2010 to reach 26.5 % in 9M13 with a big jump in 2012 to 31.0% level thanks to superb operating performance (x)  PCSGH ROE rose slightly from 21.8% in 2010 to 22.6% in 2011, but grew dramatically to reach 37.8% in 2012 and 46.7% in 9M 2013 as a result of strong operating performance and decreased equity due to dividend declaration in 9M 2013  D/E ratio was in a low range from 0.3 in 2010 to 0.2 in 2012 thanks to high cash flow from operation which was used to fund business expansion over the last several years. The jump in 2013 was due to the large dividend declaration in preparation for the IPO (currently booked 22 Monday, February 10, 14 Private & Confidential Summary of Financial Highlights

(THB mm) Period as of 2010 2011 2012 9M 2013 Financial Data Sales 2,790.6 3,174.3 5,293.7 4,035.7 Total Revenue 2,793.1 3,180.8 5,302.1 4,048.5 Gross Profit 793.9 915.2 1,861.8 1,282.2 Net Profit 675.5 788.6 1,704.9 1,157.3 EPS (THB per share) 5.87 6.86 14.82 1.0 Assets 4,124.7 5,072.8 5,939.8 5,722.9 Liabilities 1,032.1 1,191.6 803.7 4,259.0 Equity 3,092.6 3,881.2 5,136.1 1,464.0 Financial Ratios Gross Profit Margin (%) 28.45 28.83 35.17 31.77 Net Profit Margin (%) 24.18 24.79 32.15 28.59 ROA (%) 16.38 17.15 30.96 26.45* ROE (%) 21.84 22.62 37.81 46.72* Debt to Equity Ratio (times) 0.33 0.31 0.16 2.91 * Annualized figures and calculated based on the average of beginning and ending assets and equity, respectively

23 Monday, February 10, 14 Private & Confidential

Ofering Structure

24 Monday, February 10, 14 Private & Confidential IPO Ofering Summary

Issuer P.C.S. Machine Group Holding PCL (“PCSGH”)

Ticker PCSGH

389 million shares (at par value of THB 1) Total Issue Size • 389,000,000 newly issued shares

Market Stock Exchange of Thailand (“SET”)

Industry / Sector Industrials / Automotive

Financial Advisor

Joint-Lead Underwriters

– To repay loans Use of proceed – To support working capital

25 Monday, February 10, 14