East WaterLocal Roadshow

1

24.05.2018

DISCLAIMERo The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of

an offer or invitation to purchase or subscribe for share in Eastern Water Resources Development and Management Public Company Limited (“EASTW” and shares in EASTW, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever.

o This presentation has been prepared by the EASTW. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the EASTW or any of its agents or advisors, or any of their respective affiliates, advisors representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

o This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes.

o This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.

2Note: All currency figures within this presentation are presented in Thai Baht (“Bt.”) unless otherwise stated.

Business Direction

Business Outlook

Business Overview

AGENDA

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• Vision of East Water• Group Structure & Shareholders• Our Business & Performance• Raw & Tap Water Business

EAST WATER - INFORMATION

4

VISION

“being the leader in total water solutions of the country”

COMPREHENSIVE WATER SOLUTIONS

Raw & Tap Water

IndustrialWater

Waste WaterManagement

Recycled Water

Concessions under UU:• Rayong Waterworks• Chonburi Waterworks• Bangpakong Waterworks• Nong Kham Waterworks• Lak Chai Muang Yang Waterworks

Concessions under UU & Subsidiaries:• Nakornsawan Water Supply Co., Ltd.• Egcom Tara Water Supply Co., Ltd.• Chachoengsao Water Supply Co., Ltd.• Bangpakong Water Supply Co., Ltd.

Concessions under East Water:• Sattahip Waterworks• Bowin Waterworks• Koh Lan Waterworks• Koh Samui Waterworks

GROUP STRUCTURE & SHAREHOLDERS

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Raw Water Business

100%Tap Water & Related Business

40.20% 18.72% 4.57%

PWA: Provincial Waterworks AuthorityMWC: Manila Water Company, Inc.IEAT: Industrial Estate Authority of Thailand

PWA MWC IEAT

STRATEGIC SHAREHOLDERS

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PWA40.20%

Manila Water18.72%

Institution Investors19.68%

Retail Investors16.84%

IEAT4.57%

PWA: Provincial Waterworks AuthorityMWC: Manila Water Company, Inc.IEAT: Industrial Estate Authority of Thailand

Major shareholders Historical Share Price

Market capitalization THB 28.17 Billion

12.20 10.80 11.60 11.80 12.40

15.4413.50 13.81

15.1316.99

0.00

6.00

12.00

18.00

0.0

10.0

20.0

30.0

2013 2014 2015 2016 2017

THB/share

Share price (end of year) P/E

Note: Info as of 30 Mar 2018

EGCO has completed the sale all of the shares in EASTW to MWC on Mar 14, 2018

0.79 0.80 0.84 0.78 0.73

0.42 0.45 0.47 0.47 0.47

53.2% 56.1% 56.0% 60.3% 64.4%

0.0%

20.0%

40.0%

60.0%

80.0%

0.00

0.30

0.60

0.90

1.20

1.50

2013 2014 2015 2016 2017EPS DPS % Dividend payout ratio

* Excluding the net profit of 183.32 MB from measuring fair value of 15.88% equity interest in Egcom Tara

*

63.49%(Total of PWA, MWC, IEAT)

36.52%(Total of free float)

Dividend policy is not less than 30% of normal net profit

Paid-up Capital THB 1,663.73 Million

OUR BUSINESS & PERFORMANCE

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56%

33%

11%Other

Raw Water

Tap Water

Key Financial Ratios of 2017

57.52%EBITDA Margin

30.55%Net Profit Margin

12.15%ROE

6.21%ROA

0.88D/E

2.26DSCR

↑1.55%

↓0.41%

↓1.52%

↓0.42%

↓0.12

↓0.01

Revenue Structure of 2017

Profitability Ratios Debt Ratios

OUR BUSINESS & PERFORMANCE

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• Excludes the extra-ordinary revenues and net profit of Prasae Project in 2010.• Total Revenue included ‘Construction revenue under concession agreement’ starting from 2013• Total Revenue and Net Profit in 2015 include gain from measuring fair value of 15.88% equity interest in Egcom Tara• Net Profit means Profit attributable to Equity holders of the parent company

2,437

2,8783,107

3,310

3,7263,956

4,3054,659

4,414 4,357

571807 870 1,008

1,240 1,313 1,3341,585

1,309 1,221

0

1,000

2,000

3,000

4,000

5,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Mil. Bt.

Revenue Net Profit

1

BUSINESS OVERVIEW : RAW WATER (1/2)

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PluakDang-bowin

Laem -Chabang

Map Ta Phut

278 282 296 282256257 257 271 251

226

10.49 10.77 10.71 10.76 10.85

0

5

10

15

0

200

400

600

2013 2014 2015 2016 2017

Distribution Volume Sales Volume AVG Tariff

RAW WATER: Sales volume

BUSINESS OVERVIEW : RAW WATER (2/2)

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RAW WATER: Distribution by Customer Group

RAW WATER: Distribution by Area

Industrial Estate71%

Household15%

Private Industrial Park1%

Factories1%

Internal Usage12%

Rayong68%

Chonburi18%

Pluak Daeng-Bowin10%

Chachoengsao4%

Raw water13%Electricity

35%

Depreciation32% Maintenace

6%

Other14%GP of Raw Water

of 2017

61.86%

RAW WATER: GP & Cost Breakdown

256 Mil. Cu.M.

(2017)

256 Mil. Cu.M.

(2017)

BUSINESS OVERVIEW : TAP WATER (1/2)

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BUSINESS OVERVIEW : TAP WATER (2/2)

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TAP WATER: GP & Cost Breakdown

68 76 84 93 96

12.81 13.08 13.83 14.97 14.75

0

5

10

15

20

0

50

100

150

200

2013 2014 2015 2016 2017Sales Volume AVG Tariff

TAP WATER: Sales volume

Other5%

Chemical3%

Electricity17%

Raw Water17%

Depreciation35%

Wages23%

GP of Tap Water of 2017

38.22%

Hua Ror

Nakhorn Sawan

Ratchaburi -Samut Songkram

Chachoeng Sao

Bang Pakong

Nong KhamChonburi

Sattahip

Koh Lan

Koh Samui

Rayong

Lak Chai

Bo Win

Total Production Capacity

399,060(Cu.M./Day)

Average Sales Volume

267,132(Cu.M./Day)

Business Direction

Business Outlook

Business Overview

AGENDA

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• Demand & Supply Forecast• Water Situation & Business Strength• Project on process

DEMAND & SUPPLY FORECAST 20 YRS.

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256

OVERVIEW OF WATER SITUATION

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Source of data: Royal Irrigation Department

Info as of 11 May 2018

CHONBURI RAYONG

Bangpra Nongkho Dokkrai Nongplalai Klongyai Prasae

Reservoir Capacity (M. Cu.M.)

117.00 21.40 79.41 163.75 40.10 248.00

Water Reserve (M. Cu.M.)

70.70 11.84 56.72 143.38 28.65 201.59

Useable storage volume(excluding Dead Storage)(M. Cu.M.)

58.65 10.84 53.72 129.88 25.65 181.59

69.49 390.84

% Total Capacity 50.13% 50.65% 67.65% 79.32% 63.97% 73.22%70.70

11.84

28.65143.38

201.59

56.72

WATER SITUATION IN CHONBURI

16Note: Info as of 11 May 2018

WATER SITUATION IN RAYONG

17Note: Info as of 11 May 2018

WATER SITUATION IN PRASAE - RAYONG

18Note: Info as of 11 May 2018

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PrasaeKlong YaiNong-Pla-Lai

Dok Krai

Bang Phra

Nong Kho

Reservoir

EEC AREA

Leased Pipe Network

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PrasaeKlong Yai

Dok Krai

Bang Phra

Nong Kho

Main Water Resource

Existing Pipe Network

Nong-Pla-Lai

Leased Pipe Network

Raw Water Projects

Tabma+47 MCM

(2019)

NL-NK2 #1(2017)

Bangpakong-pumping+20 MCM

(2020)

Reserve Water Resource

ON GOINGPROJECTS

EEC AREA

Clarified Water Projects

Business Direction

Business Outlook

Business Overview

AGENDA

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• Opportunities Projects • Water Innovation Project

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PrasaeKlong Yai

Dok Krai

Bang Phra

Nong Kho

Main Water Resource

Existing Pipe Network

Nong-Pla-Lai

Leased Pipe Network

Digital Park

Reserve Water Resource

POTENTIALOPPORTUNITIESPROJECTS

Clarified Water

Clarified Water

Clarified Water

Clarified Water

Clarified Water

Clarified Water

Clarified Water

Clarified Water Projects

EEC AREA

1

2

3

4

56

7

WATER INNOVATION PROJECT

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Tap WaterProjects

Recycle WaterProjects

OPPORTUNITIESPROJECTS

OutsideEEC AREA

Comprehensive WaterProjects

Ratchaburi

Phuket

Songkla

Recycle WaterProject

(1,000 Cu.M./day)Comprehensive

Water Project(MOU on 01.02.18)

Tap WaterProject(15,000 Cu.M./day)

Tap WaterProject

(15,000 Cu.M./day)

CONTACT US

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Eastern Water Resources Development and Management Public Company LimitedFloor 23-26, East Water Building, 1 Vibhavadi Rangsit Road, Jomphol, Chatuchak, Bangkok 10900

Tel: 02-272-1600 Fax: 02-272-1601

Website: www.eastwater.com or investor-th.eastwater.com

For further information & enquiries, please contact our investor relations at:Tel: 02-272-1600 Email: IR@eastwater.com