EAST WATEROPERATION & FINANCIAL PERFORMANCE of 1H/2018

1

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.

Financial

Outlook & Strategies

Business Overview

AGENDA

3

• Group Structure & Shareholder• Our Business & Business Model • Customers Area & Challenge (Water Situation)

EASTW - INFORMATION

4

VISION

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

COMPREHENSIVE WATER SOLUTION

Raw & Tap

WaterIndustrial

Water

Waste Water

Management

Recycled

Water

GROUP STRUCTURE

5

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

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 Investors18.56%

Retail Investors17.96%

IEAT4.57%

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

Major shareholders Shareholders’ value appreciation

Market capitalization of approx. THB 18.80 Billion

4.52

6.65 6.20

12.3012.2010.80

11.60 11.80 12.40

10.60

4.68

7.206.65

14.00

15.80 15.60

12.30 11.90 12.4010.80

0.0

3.0

6.0

9.0

12.0

15.0

18.0

THB per share

Share price (end of year) Highest price

Note: Info as of 30 June 2018

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

OUR BUSINESS

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56%

34%

10% Other

Raw Water Distribution

Tap Water

As the core business of EASTW, raw water distribution is the main source of revenues

while tap water and waterworks management – operated under Universal Utilities Co., Ltd.

(100% subsidiary) – are compelling supportive businesses.

RAW WATER BUSINESS MODEL

8

TAP WATER & WATER RELATED BUSINESS MODEL

9

10

PrasaeKlong YaiNong-Pla-Lai

Dok Krai

Bang Phra

Nong Kho

Reservoir

RAW WATER MARKET-BASED OPERATIONS & KEY CUSTOMERS

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Major customers Local authorities: Provincial Waterworks Authority (PWA),

and Industrial Estate Authority of Thailand (IEAT) Industrial estates: Hemraj Estate, Amata Estate Multi-national companies: SCG, Thai Oil (TOP), PTT Global

Chemical (PTTGC), Toyota

PrasaeKlong Yai

Nong-Pla-Lai

Dok Krai

Bang Phra

Nong Kho

HemrajEstate

IEATLaem -

ChabangEstate IEAT

Map Ta Phut

Estate

TAP WATER MARKET-BASED OPERATIONS & KEY CUSTOMERS

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EASTW’s Concession

UU’s Concession

- Total production capacity = 315,410 cubic meters / day

- Average sales volume = 225,986 cubic meters / day

- Total production capacity = 82,500 cubic meters / day

- Average sales volume = 52,048 cubic meters / day

OVERVIEW OF WATER SITUATION

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Source of data: Royal Irrigation Department

Info as of 3 Aug 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.)

62.42 10.22 47.98 111.35 21.50 188.35

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

50.37 9.22 44.98 97.85 18.50 168.35

59.59 329.68

% Total Capacity 43.05% 43.08% 56.64% 59.76% 46.13% 67.88%62.42

10.22

21.50111.35

188.35

47.98

WATER SITUATION IN CHONBURI

14Note: Info as of 3 Aug 2018

WATER SITUATION IN RAYONG

15Note: Info as of 3 Aug 2018

WATER SITUATION IN PRASAE - RAYONG

16Note: Info as of 3 Aug 2018

Financial

Outlook & Strategies

Business Overview

AGENDA

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• Projects• Potential New Investment

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PrasaeKlong Yai

Dok Krai

Bang Phra

Nong Kho

Main Water Resource

Existing Pipe Network

Nong-Pla-Lai

Leased Pipe Network

Projects

Prasae #2+70 MCM

(2018)

Tabma+47 MCM

(2020)

NL-NK2 #1(2017)

Bangpakong-pumping+50 MCM

(2020)

Reserve Water Resource

RAW WATERRESOURCESMANAGEMENT

RAW WATER PROJECTS IN 2018

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Financial

Outlook & Strategies

Business Overview

AGENDA

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• Financial Highlight 1H/2018• Dividend Policy and Dividend Payout

PROVEN PERFORMANCE OF EAST WATER

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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

4,305

4,6594,414 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

FINANCIAL HIGHLIGHTS OF 1H/2018

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2,2792,106

1,562 1,520

716586

0

500

1,000

1,500

2,000

2,500

3,000

1H/2017 1H/2018

Mil. Bt.

Total revenue Total expenses Net profit

113

-7.59%

-2.72%

-18.21%

Revenue

Net profit

Expenses

• Total revenue included construction revenue and cost under concession agreement (TFRIC.12)• Net Profit for the year

113

Construction under concession agreement

148

148

2,131 1,414 2,093 1,407

REVENUES 1H/2018

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1,3101,185

708

712

148113

83

83

30

13

2,279 2,106

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

1H/2017 1H/2018

Mil. Bt.

Raw water Tap water Construction under concession agreement Rental & Services Other

57%

31%

34%

56%

-7.59%

7%

4%1%

5%4%1%

RAW WATER: Sales volume

121.05 108.64

10.82 10.91

0

3

6

9

12

0

40

80

120

160

1H/2017 1H/2018

Baht/Cu.M.Million Cu.M.

Raw water Selling Tariff

+ 0.80%

TAP WATER: Sales volume

48.08 47.89

14.73 14.87

0

5

10

15

0

15

30

45

60

1H/2017 1H/2018

Baht/Cu.M.Million Cu.M.

Tap water Selling tariff

+ 1.02%

TOTAL EXPENSES 1H/2018

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-4.56%

COGS decreased by 1.45% YoY;

168 144

71 67

201 202

1,123 1,107

1,5621,520

0

200

400

600

800

1,000

1,200

1,400

1,600

1H/2017 1H/2018

Mil. Bt.

Tax Interest SG&A COGS

Cost of Raw Water decreased by 4.56% yoy: because of• Decreasing of volume sales from Household customers, • Decreasing of electricity cost for transfer raw water to support in Chonburi Area.

Cost of Sales for Tap Water increased by 11.60% yoy : because of • Increasing of depreciation and amortization by 8.49 million Baht from the amortized assets under

concession agreements.• Increasing of higher raw water cost as the company had purchased raw water from private source.Cost of Construction under concession agreements decreased by 24.09% yoy: according to accounting standard TFRIC12

492416

67 148

470 464

61 1130

200

400

600

Raw Water Tap Water Rental&Sevices Construction underconcession agreement

1H/2017 1H/2018

-9.43%

+11.60%

-2.72% YoY

-24.09%

COSTS BREAKDOWN Q2/2018

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Raw water18%

Electricity28%

Depreciation32%

Maintenace7%

Other15%

492.40 469.93

4.07 4.33

0.0

1.5

3.0

4.5

0

200

400

600

1H/2017 1H/2018

Bt./Cu.M.Mil. Bt.

Costs of Raw Water

415.74 463.97

8.65 9.69

0.0

3.0

6.0

9.0

12.0

0

200

400

600

1H/2017 1H/2018

Bt./Cu.M.Mil. Bt.

Costs of Tap Water

Other6%

Chemical4%

Electricity15%

Raw Water18% Depreciation

35%

Wages22%

GP of Tap Water of 1H/201834.87%

GP of Raw Water of 1H/201860.35%

SHARE INFORMATION AND DIVIDEND PAYMENT

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0.610.75 0.79 0.80 0.84 0.78 0.73

0.42 0.44 0.42 0.45 0.47 0.47 0.47

69.4%

59.0%53.2% 56.1% 56.0%

60.3%64.4%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

0.00

0.20

0.40

0.60

0.80

1.00

2011 2012 2013 2014 2015 2016 2017

Baht/share

EPS DPS % Dividend payout ratio

*

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

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

*

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