26th March 2015 Disclaimer: The information, forecasts and projects contained herein this presentation reflect the Company’s current views. These views are based on assumptions subject to various risks and uncertainties. No assurance is given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. Actual results may differ materially from those projected.

Abou

t IRC

About IRC

Perfo

rman

ce

Performance

2015

Outl

ook

2015 Outlook

www.ircthailand.com

2

Profile Group Structure Strategic Direction Product Lines

Market Situation - Industry Outlook - Raw Materials - Exchange Rate Financial Highlights Mixing Production Capacity

www.ircthailand.com

3

1969

Established IRC with THB 10m capital

1996

- Increased the registered capital to THB 200m

- Join venture with The Asian Inoue Rubber

- PTE.Ltd.(Singapore) and Sao Vang Rubber (Vietnam) Co., Ltd. To Establish Inoue Rubber Vietnam Co., Ltd.

1998

- ISO 9002 for IED and T/T

1999

- Received Mor.Or.Gor. Standard 682/2540 for motorcycle tires.

2000

Received QS 9000 for IED

2003

Started assembling

RIM

2001

- Established Kinno Hoshi Engineering Co., Ltd. (KIN)

- Invented “Tuff-up” or Non-puncture Tube. IRC is the ONLY Patent Holder

2004

Par changed from THB10 per share to

THB1 per share

2007

- Certified ISO 14001

- Open “Vityanusorn Memorial Hall”

2010

- Be the FIRST motorcycle T/T company that STOP using raw materials contained PAH and produce T/T with low PAH, which has the same standard as the EU T/T manufacture regulations.

2012

- Set up Risk Management Committee

- Certified ISO 9001: 2008 from Bureau Veritas and ISO/TS16949:2009 for IED

2013

- Certified CCC Mark for T/T - Received the Laboratory

Accreditation Certificate ISO/IEC 17025: 2005

2015

Certified ISO14001:2004 By Bureau Veritas

2015

www.ircthailand.com

4

Company Name Inoue Rubber (Thailand) Public Limited Company

Company Abbreviation IRC

Company Registration Number 0107536001737

Type of Business Automotive Industry

Website www.ircthailand.com

Head Office 258 Soi. Rangsit-Nakornnayok 49, Prachatipat District, Thanyaburi, Pathumthanee 12130

Registered Capital 200 Million Baht (Paid up)

Number of Shares 200 Million Ordinary Shares

Par Value 1 THB

Total Shareholders 1,296 shareholders (as of 12th December 2014)

Percentage of Free float 29.01 (as of 12th December 2014)

www.ircthailand.com

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Inoue Rubber Co., Ltd. (Japan)

Leeisarranukul Group Minor shareholders

Inoue Rubber (Thailand) Public Co., Ltd.

Inoue Rubber Vietnam Co., Ltd.

IRC (Asia) Research Co., Ltd.

Kinno Hoshi Engineering Ltd.

34.30% 36.69% 29.01%

8.00% 99.99% 99.99%

The subsidiaries have been operating under the company’s administration structure and manageable authority.

Remark: 1 Major shareholder group who participates in business operation by sending persons to be directors *Leeissaranukul Family including Sopa-Kanok International Co., Ltd, Mrs. Porndee Leeissaranukul, Mr. Thanong Leeissaranukul, Mrs. Pimjai Leeissaranukul, Mr. Apichart Leeissaranukul, and Mrs. Pornthip Sethiwan.

Note: Data as of fiscal year 2014

www.ircthailand.com

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Company Values

Growth Potential Sustainable Enterprise Generate Strong Financial Status

Quality in Each Product

Outstanding Products and Services

Research & Development

Environment and Community

Enhance Skills at All Staff Level

Be the Leading Company in Development and Manufacturing of Elastomer Products and Motorcycle Tires and Tubes Products in ASEAN

www.ircthailand.com

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70%

3%

27%

3%

IED Market Portion

OEM Customers

16%

69%

7% 7%

KAWASAKI MOTORS ENTERPRISE

Honda Group

THAI SUZUKI MOTOR CO.,LTD.

THAI YAMAHA MOTOR CO.,LTD.

Others

8

www.ircthailand.com

Domestic distributor – Sittipol 1919

Direct Inoue Rubber

Co., Ltd. Japan (IRCJ)

EXPORT 37%

OEM 40%

REM 23%

MAIN MODELS of IRC’s CUSTOMERS

WAVE 100, 125 & DREAM 125 PHANTOM

PCX 125i ZOOMER-X

CBR 150 R

Other models from Honda: Thailand: WAVE 110i, AT WAVE 110i, DREAM 110i, CLICK-i, ICON, AIR BLADE, AIR BLADE-i, SCOOPY i, and CBR (150R, 250R, 250L, 250M) Italy: SH 125/150i, PANTHEON, DYLAN Malaysia: WAVE 100 India: LEAD

Tires & Tubes Market Portion Others 1%

9

www.ircthailand.com

D-TRACKTER 250 KSR 110

KLX 110 KLX 140L

SPARK 135, 135i, X1-R NOUVO MX

MIO 115 & MIO125 FIORE

TTX

Other models from Yamaha: Thailand: SPARK NANO, NOUVO ELEGANCE,

FINO, and NEW FINO

Other models from Kawasaki: NINJA 250, 300, Z250

10

www.ircthailand.com

Other Customers:

Other models from Suzuki: SHOGUN 125 and LET

SMASH REVOLUTION KATANA 125

STEP 125, SKY DRIVE 125

JELATO 125

HAYATE 125

SMART 03 SMART 04 SMART CX 125CC

Model: DORADO RKV 200 SUPER LIGHT

Model:

PUKSAR 130 Model:

SMART 03 SMART 04 SMART CX 125CC

Model:

China

Australia

Bangladesh Bermuda

Brazil

Burkina Faso

Canada

Cambodia Honduras

India

Iran

Dubai

Greece

Korea Japan

Maldives

Dominican Rep. Guatemala

Mexico Myanmar

New Zealand

Belgium

Portugal

Russia

Singapore

Malaysia

South Africa

England

Switzerland

Italy

Netherland Turkey

Lebanon

Israel

USA

Vietnam

Philippines Indonesia

Taiwan

Yemen

Note: Data as of fiscal year 2014

Colombia Venezuela

www.ircthailand.com

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IRC export markets cover 40 countries in all regions.

Abou

t IRC

About IRC

Perfo

rman

ce

Performance

2015

Outl

ook

2015 Outlook

www.ircthailand.com

12

Profile Group Structure Strategic Direction Product Lines

Market Situation - Industry Outlook - Raw Materials - Exchange Rate Financial Highlights Mixing Production Capacity

Truck 1% Others

7%

13

www.ircthailand.com

PASSENGER 39%

Truck 1% Others

7%

Domestic 41% Export

59%

742,678 units

999,733 units

PICK UP 1 TON 53%

Eco Car: 242,492 units

Non-Eco Car: 500,186 units

Eco Car: 655,014 units

Non-Eco Car: 265,207 units

PASSENGER 43%

PICK UP 1 TON 49%

920,221 units

Domestic 44%

Export 56%

1,040,656 units

170% 47%

Source: Thailand Automotive Industry

Export 20%

Domestic 80%

HONDA

77%

YAMAHA 8.5%

SUZUKI 7.5%

KAWASAKI 7% HONDA

YAMAHA

SUZUKI

KAWASAKI

www.ircthailand.com

PICK UP 1 TON 53%

Domestic 84%

Export 16%

14

Source: Thailand Automotive Industry

Production Portion

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP

FY.2013 FY.2014 FY.2015

87.96

94.34 94.10

105.84

97.34 98.75

103.34

96.35

73.16

44.57 47.91

57.74

79.53

67.45 71.05

64.04 60.05

64.35 61.88 61.03

63.17

57.10

49.00 51.00

87.15 91.24 86.59 85.50

83.91

74.47

65.93

62.23

55.92 51.38

51.52 51.00

Crude Oil (USD/Barrel) SBR(Baht) NR (Baht)

Iraq civil war as ISIL taking control of big cities

Low supply in domestic market

NR supply and US crude oil stock increased

World economy growth slow down and over global supply

Weak demand from big consumers

China opened a new butadiene plant

Crude oil price fell

World economy recovery: low demand in SBR

www.ircthailand.com

15

OPEC announced maintaining crude oil production

Civil war in Ukraine and the chaos in the border of Russia-Ukraine

Forecasted US and EU boycott Russia

Source: PTT group, U.S. Energy Information Administration, and IRC’s Dealers

30.82 29.61 30.03

31.48

31.73 32.66 32.45 32.10 32.71

38.19

31.30 30.54 31.83

31.62 31.78 31.77 30.89

28.62

43.16

39.36 39.03 41.70

40.86

44.74 44.49 42.54

40.86

USD/THB 100JPY/THB EUR/THB

16

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

www.ircthailand.com

U.S. economic recovery caused USD appreciation

End of QE3 in October 2014

BoJ announced the expansion of QE

Abenomics Implemented ( 3 Arrows)

Increased consumption tax from 5% to 8%

Thailand Political Unrest

Note: Data as of fiscal year 2014

Shrinkage of Eurozone’s economy

Euro’s PMI increased

Negative deposit rate from ECB

Source: Bank of Thailand

USD 66%

JPY 28%

EUR 6%

USD 67%

JPY 33%

www.ircthailand.com

17

1,887 1,827 1,592 1,530 1,437 1,393 1,309 1,358 1,358

-6.63%

-3.17%

-12.84%

-3.92% -6.09%

-3.06%

-6.00%

3.76%

-0.05%

600

800

1,000

1,200

1,400

1,600

1,800

2,000

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

IRCT revenue (mill THB) IRCT revenue growth rate Highlights

QoQ For Q1/2015, IRC revenues dropped THB 0.66

million or 0.05% qoq, which was stable from the previous quarter. Despite the economic slowdown and drops in GDP growth, IRC still maintained its sales volumes.

YoY Comparing IRC revenues in FY2014 to FY2013,

the sales declined after the expiration of Eco Car Phase I Policy and the political unrest.

However, IRC revenues has showed the trend of sales recovery from the FY2014.

In FY2014, IRC revenues were driven by IED business counted as 54% and followed by T/T business 46%.

IED 54%

T/T 46%

5,453.5 MB

FY.2014 Revenues by business

Net Profit Margin

www.ircthailand.com

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98 124 76 111 89 71 71 82 91

5.20%

6.80%

4.78%

7.23%

6.18%

5.12% 5.44%

6.05% 6.69%

0

25

50

75

100

125

150

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

Net Profit (mill THB) % Net Profit Margin

Gross Profit Margin

1,887 1,827 1,592 1,530 1,437 1,393 1,309 1,358 1,357

-5.18%

13.27% 11.95%

-21.90%

13.58% 12.32% 12.96% 8.59%

14.07%

600

800

1,000

1,200

1,400

1,600

1,800

2,000

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

IRCT revenue (mill THB) % Gross Profit Margin

Highlights

QoQ For Q1/2015, IRC revenues were THB 1,357

million, which gross profit margin vividly improved from 8.59% to 14.07% qoq. (due to 6.04% the drops in COGS from the decrease in main raw material and energy prices.)

The net profits rose from 6.05% to 6.69% at THB 91 million. (due to the benefits from the drops in COGS as well.) YoY

In FY2014, IRC gross profit margin kept the stable rate about 12% compared to FY2013.

Net profit margin has continuously increased from the implementation of ‘cost reduction’ scheme as well as the drops in raw material and energy prices.

www.ircthailand.com

19

ROA

EBITDA Margin

194 221 171 215 186 163 165 183 189

10.30% 12.10%

10.72%

14.02% 12.94%

11.69% 12.59%

13.44% 13.89%

-

50

100

150

200

250

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

EBITDA (mill THB) EBITDA MARGIN

4,127 4,190 3,993 3,889 3,862 3,739 3,699 3,869 3,847

2.38%

2.96%

1.91%

2.85%

2.30% 1.91% 1.93%

2.12% 2.36%

3,400

3,600

3,800

4,000

4,200

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

Total Assets (mill THB) ROA

Highlights

QoQ EBITDA margin slightly grew from 13.44% to

13.89% and reached at THB 189 million, which showed the stronger profitability.

For Q1/2015, ROA also demonstrated the better management ability from 2.12% to 2.36% under the total assets about THB 3,847 million.

YoY EBITDA gradually dropped from FY2013 to

FY2014; while, EBITDA margin continuously grew up at the constant rate from the fluctuation in FY2013. (due to the cost management.)

Total assets were dampened by the drops in sales (due to the economic slowdown); however, the ROA’s trend has gradually rose since Q2/2014.

0.32 0.2436 0.2051

0.6254 0.4950

0.18 0.2436 0.2051

0.1928 0.1319

2010 2011 2012 2013 2014 BOI NON-BOI

32% 32% 40% 40% 40%

Dividend Payout

www.ircthailand.com

20

EPS (THB per share)

98 124 76 111 89 71 71 82 91

0.49

0.62

0.38

0.55

0.44

0.36 0.36 0.41

0.45

0

25

50

75

100

125

150

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

Net Profit (mill THB) EPS

Dividend Payout (THB per share)

Highlights

QoQ Due to the growth of net profit, earnings per share

(EPS) rose from THB 0.41 to 0.45 per share .

YoY In FY2014, IRC’s EPS had declined from FY2013

due to the drops in sales and economic slowdown; however, IRC’s EPS has hit the top rank comparing to others in the automotive industry.

IRC’s dividend paid THB 0.6269 per share (*BOI 0.4950 & NON-BOI 0.1319)

Note: * IRC currently holds 5 BOI certificates.

4,127 4,190 3,993 3,889 3,862 3,739 3,699 3,869 3,847

2,001 1,980 1,707 1,493 1,377 1,346 1,235 1,319 1,206 447 427 233 180 109 170 72 72 40

0.94 0.90

0.75 0.62

0.55 0.56 0.50 0.52

0.46

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC JAN-MAR APR-JUN JUL-SEP OCT-DEC

FY.2013 FY.2014 FY.2015

Total Assets (mill THB) Total Liabilities (mill THB) Loan (mill THB) D/E ratio

www.ircthailand.com

21

Balance Sheet & Net Debt to Equity

Highlights

QoQ For Q1/2015, IRC hold total assets THB 3,847 million, dropped THB 22 million due to the slight drops in sales. Total liabilities were THB 1,206 million, also declined THB 110 million due to the sharp drops in raw material prices. Moreover, debt-to- equity ratio (D/E) hit 0.46 due to holding slight amount of loans, THB 40 million. (dropped THB 30 million from

debt paying.) YoY Among the political unrest and economic crisis from the past two years, IRC’s total assets and total liabilities slightly dropped;

while, loans amount has vividly decreased from THB 447 to 72 million yoy, caused less financial burdens. Hence, debt-to- equity ratio (D/E) has dramatically decreased from 0.94 to 0.52, showed the strong financial status.

Abou

t IRC

About IRC

Perfo

rman

ce

Performance

2015

Outl

ook

2015 Outlook

www.ircthailand.com

22

Profile Group Structure Strategic Direction Product Lines

Market Situation - Industry Outlook - Raw Materials - Exchange Rate Financial Highlights Mixing Production Capacity

www.ircthailand.com

23